Gold World News Flash |
- ECB Calmed the Markets, Will China Act Next?
- Investors Preparing For QE3 As Gold and Silver Skyrocket
- Promises Broken: If Moderate Voters See This Video, It’s Over for Obama
- The Student Loan Debt Bubble Is Creating Millions Of Modern Day Serfs
- Mike Niehusers Gold Investing Lessons from Banking School
- Truman Show, Jim Grant, Gold & Economies Close To Meltdown
- Turk – No Time To Wait For A Pullback, Gold To Hit New Highs
- Jeff Christian: No QE3 Coming, Gold & Silver to Crash As Rally Has Been Based on ‘Speculative Fluff’
- Gold Nears Objective from August Breakout
- Silver is a TOXIC Threat to the Environment & Could Lead to Ecosystem Collapse
- Are the ‘Elite' Misleading the Public Through Folks Like Alex Jones & Lindsey Williams?
- Jeff Christian, World Class SHILL: No QE3 Coming, Gold & Silver to Crash As Rally Has Been Based on ‘Speculative Fluff’
- Do You Believe In P/E Miracles?
- Bill Murphy: $100 SILVER SOON! JP Morgan's Ag SCANDAL… The SECRET is OUT
- Economist or Alconomist
- The Gold Price Closed at $1,729.20 Down $8.80 or 0.506 Percent
- How to End the Fed, and How Not To
- THE SHRINKING DOLLAR
- Thom Calandra: Why I love the Toronto and New Orleans conferences (and a few mining companies)
- David Rosenberg's New Normal: "The Economy Does Not Drive The Markets Any More"
- The Historic Demise Of The Ever-Shrinking Dollar: An Infographic
- David Gurwitz–Charles Nenner Says $2500 Gold-$5 Nat Gas-Dolar Collapse 18 Months And More 10.Sept.1
- Ranting Andy Hoffman–Life Imitating Fargo (The Movie) 10.Sept.12
- Global Economy Is In Worse Shape – Germany Going Into Depression In 6 Months – Credit Suisse Ups 3-Month Gold View to $1,775 – UBS Lifts 1-Month Gold Forecast To $1,850 – JPM And Goldman See $1,800 Gold By Year End – Gold to hit $1,900 by early
- Senior Golds Look to Juniors for Growth: David Goguen
- Stockman – Fed is the Heart of the Problem
- Manipulating inflation expectations won't work for Fed, Turk says
- Public Employees: They Are Different From You and Me...
| ECB Calmed the Markets, Will China Act Next? Posted: 11 Sep 2012 01:21 AM PDT After Mario Draghi announced the European Central Bank's new bond buying program, I was the first guest on CNBC Asia's Squawk Box to weigh in on this decision. I reiterated my stance that the endgame for Europe would be to print money, which will eventually lead to currency wars. These actions are positive for gold and also for increased economic activity.
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| Investors Preparing For QE3 As Gold and Silver Skyrocket Posted: 11 Sep 2012 01:14 AM PDT Silver (SLV) is breaking out past $30 and the trend is moving higher as the Fed signals that they are now ready to pull the trigger and boost the economy possibly as early as the next Open Market Meeting in the middle of September. Silver is regaining the 200 day moving average on a breathtaking move. Even though we have the general equity markets at record highs, economic conditions all around the world are not showing evidence of a recovery…yet.
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| Promises Broken: If Moderate Voters See This Video, It’s Over for Obama Posted: 11 Sep 2012 12:00 AM PDT by Mac Slavo, SHTFPlan: Take a good look. This is who we elected to be our leader. When you take away the pre-written speeches, the teleprompters, the flashy stage lights, the thousand dollar suits, and the star power, you're left with just another political sycophant and his rhetoric. His actions speak much louder than the words that convinced tens of millions of our countrymen that he would act in our interests. Barack Obama's administration is plagued with one promise after another being broken. For those who have not yet been hypnotized into submission by his words, the following will be infuriating. Via The Daily Crux:
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| The Student Loan Debt Bubble Is Creating Millions Of Modern Day Serfs Posted: 10 Sep 2012 11:30 PM PDT from The Economic Collapse Blog:
Read More @ TheEconomicCollpaseBlog.com
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| Mike Niehusers Gold Investing Lessons from Banking School Posted: 10 Sep 2012 11:00 PM PDT The Gold Report
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| Truman Show, Jim Grant, Gold & Economies Close To Meltdown Posted: 10 Sep 2012 10:01 PM PDT  Today 40 year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, put together one of his greatest pieces ever where he warns, "What we have now are economies that are close to synchronous meltdowns."
This posting includes an audio/video/photo media file: Download Now |
| Turk – No Time To Wait For A Pullback, Gold To Hit New Highs Posted: 10 Sep 2012 10:00 PM PDT from KingWorldNews:
Here is what Turk had to say: "Gold and silver are taking a bit of a breather today, Eric, which is to be expected after last week's huge price surge. Also, another reason I think the metals are quiet is because everybody is trying to figure out what the Federal Reserve will be announcing after their meeting concludes on Thursday." "The Fed has set the stage for another round of Quantitative Easing, which of course will be inflationary, and therefore bullish for gold and silver. But what the Fed always tries to do is control expectations. They place greater emphasis on the notion that inflation is not a result of how much currency is actually in circulation or how rapidly the quantity of currency grows, but rather, whether people think inflation will worsen. James Turk continues @ KingWorldNews.com
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| Posted: 10 Sep 2012 09:44 PM PDT When The Vampire Squid and the Morgue both advised their muppets (clients) over the weekend that QE3 is a done deal for this week many rightly took it as a contrarian sign that The Bernank will majorly disappoint Thursday. We … Continue reading
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| Gold Nears Objective from August Breakout Posted: 10 Sep 2012 08:32 PM PDT courtesy of DailyFX.com September 10, 2012 03:10 PM Daily Bars Prepared by Jamie Saettele, CMT Gold is nearing the objective defined from its breakout in late August. To review, “The alternate gold count was confirmed today with the trade above 1640.80. Using the triangle measuring technique…objectives for gold are 1703.56 and 1754.26.” The former was reached and exceeded but the latter level is in line with the 1760 area, which served as a pivot in December 2011 and February 2012. Expect a reaction above 1750. LEVELS: 1705 1714 1723 1750 1761 1790...
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| Silver is a TOXIC Threat to the Environment & Could Lead to Ecosystem Collapse Posted: 10 Sep 2012 08:30 PM PDT from Silver Vigilante:
Silver is threatening the planet. No, not because of Gresham's Law leading individuals towards silver and the rest of the precious metals complex, and thus away from the Federal Reserve Note, but instead due to the fact that it is an environmental toxin that is murdering off fish, children and polluting our water supply. Forget fluoride, it is silver that will take you out. Silver, according to this unique brand of Keynesian environmentalists, could bring about a new, silver plague. According to this school of thought, "a wide and uncontrolled use of silver products" will lead to "not only silver-resistant but also antibiotic-and biocide-resistant bacteria." If we allow silver to do this, all good bacteria will be killed and the "ecosystem will collapse."
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| Are the ‘Elite' Misleading the Public Through Folks Like Alex Jones & Lindsey Williams? Posted: 10 Sep 2012 08:30 PM PDT [Ed. Note: If there's one thing we can't stand, it's criticizing people in the liberty movement who are truly trying to help awaken & help others - especially when there is no shortage of REAL enemies of humanity to focus on. It is our opinion that both of these men have done and are trying to do good. With that said, we post a lot of Silver Doctors material and to that end, we post this one for your input.] by SRSrocco, Silver Doctors:
Some years ago I started to listen to Alex Jones who would have Lindsey Williams on as a frequent guest. While Lindsey was stationed in Alaska, he was told by the elite that there was the biggest oil reserve in the world right off the coast of Alaska near Gull Island. They told him that this oil reserve was secret and they were not going to tap into it until the price of oil was much higher. Basically the elite were telling Lindsey… there was no shortage of oil, rather they were controlling the world by manipulated the price of oil. As time went by, some of the things that I heard (or didn't hear) on the Alex Jones show or in Lindsey Williams interviews started to make me quite skeptical.
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| Posted: 10 Sep 2012 08:13 PM PDT from Silver Doctors:
When The Vampire Squid and the Morgue both advised their muppets (clients) over the weekend that QE3 is a done deal for this week many rightly took it as a contrarian sign that The Bernank will majorly disappoint Thursday. We now have contrasting contrarian indicators however, as the CPM Group's Jeffrey Christian was back on BNN today, claiming that there is zero chance the Fed will announce further 'real' easing until December at the earliest, that he expects gold to imminently crash to $1550. Christian states he is advising clients to buy puts on gold and gold equities and SLV ahead of Thursday's Fed announcement and states that silver has rallied 20% over the past month and a half 'purely on speculative fluff'.
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| Do You Believe In P/E Miracles? Posted: 10 Sep 2012 08:09 PM PDT Since The Dreme (Draghi Scheme) began shortly after the EU Summit, the P/E multiple on the S&P 500 has risen by a faith-defining 2x. This is the largest three-month rise in this indicator-of-indifference-to-reality since the initial burst rally off the March 2009 lows. Meanwhile, the actual earnings consensus is being marked down further, heading for an earnings recession as we pointed out last week. It seems investors are too afraid not to believe in P/E miracles or perhaps it is just faith that central banks have it all under control and their 'promises' are as good-as-gold. The S&P 500 seems 'managed' to a certain level - no matter what that means for EPS or P/E multiples, the spice must flow market must rise... (a 2x multiple increase since Draghi's initial utterances post EU Summit
As if the divergence was not enough, the 3 month rise in the S&P's P/E ratio (lower pane) is its highest since the initial V-bottom recovery in 2009...
Charts: Bloomberg and JPMorgan
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| Bill Murphy: $100 SILVER SOON! JP Morgan's Ag SCANDAL… The SECRET is OUT Posted: 10 Sep 2012 07:51 PM PDT from Unconventional Finance: The prices of gold and silver are breaking out. Bill Murphy, from GATA.org, predicted all of this over a month ago, before the near 30% jump and now he says this is just the beginning. Murphy is further forecasting continued explosive moves to the upside in the metals prices. "It won't be long in till silver is at $100," Murphy declares. But is physical precious metals the way to go? Check this fast-moving interview to hear Bill Murphy reveal the other investment he believes will actually outperform the metals as a "10 to 20 bagger.
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| Posted: 10 Sep 2012 07:43 PM PDT You cannot turn a base metal into gold you cannot borrow and print your way out of a debt crisis. You can reach your destination if an Alconomist is your guide. Read More...
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| The Gold Price Closed at $1,729.20 Down $8.80 or 0.506 Percent Posted: 10 Sep 2012 07:42 PM PDT Gold Price Close Today : 1,729.20 Change : -8.80 or -0.506% Silver Price Close Today : 33.57 Change : -0.06 or -0.178% Gold Silver Ratio Today : 51.50 Change : -0.17 or -0.33% From 7 September through 16 September Franklin Sanders will be away for a family vacation and won't publish a daily commentary during that time, but will return on 17 September. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com 1-888-218-9226 10:00am-5:00pm CST, Monday-Friday © 2012, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't. 
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| How to End the Fed, and How Not To Posted: 10 Sep 2012 06:48 PM PDT By Gary North | Mises.org Republished with permission of Ludwig von Mises Institute - It would be very easy to end the Federal Reserve System. Congress would write the following bill. The president would sign it. The Federal Reserve Act of 1913 and all subsequent amendments to that act are hereby revoked. The gold that [...] 
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| Posted: 10 Sep 2012 06:24 PM PDT Infographic By Wholesale Gold Group
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| Thom Calandra: Why I love the Toronto and New Orleans conferences (and a few mining companies) Posted: 10 Sep 2012 05:52 PM PDT 7:47p ET Monday, September 10, 2012 Dear Friend of GATA and Gold: Financial writer Thom Calandra's new edition of The Calandra Report explains why he especially likes the Cambridge House financial conferences, the next of which will be held in Toronto on Thursday and Friday, September 27-28, and the New Orleans Investment Conference, which will be held Wednesday through Saturday, October 24-27. Calandra and GATA Chairman Bill Murphy and your secretary/treasurer are scheduled to speak at both of them, and links to the conference Internet sites are below. Calandra also writes today about a few of the gold and silver mining companies that interest him most at the moment. His commentary is headlined "Shows, Shows, Shows" and it's posted at the Cambridge House blog here: http://blog.cambridgehouse.com/2012/09/10/tcr-extra-shows-shows-shows-th... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Fred Goldstein and Tim Murphy open All Pro Gold Longtime GATA supporters Fred Goldstein and Tim Murphy have brought their many years of experience in the precious metals and numismatic coins to All Pro Gold as metals brokers who specialize in the delivery of gold and silver bullion bars and coins as well as numismatic gold and silver coins. Fred and Tim follow these markets closely and are assisted by a team of consultants in monitoring market trends. All Pro Gold offers GATA supporters competitive pricing on all bullion products and welcomes inquiries. Tim can be reached at 602-299-2585 and Tim@allprogold.com, Fred at 602-799-8378 and Fred@allprogold.com. Ask about their ratio strategy and the relationship of generic $20 dollar gold pieces to 1-ounce gold bullion coins. Visit their Internet site at http://www.allprogold.com/. Join GATA here: Toronto Resource Investment Conference New Orleans Investment Conference * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Prophecy Platinum Announces Wellgreen Preliminary Economic Assessment: Company Press Release VANCOUVER, British Columbia, Canada -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) reports the results of an independent NI 43-101-compliant preliminary economic assessment for its fully owned Wellgreen nickel-copper-platinum group metals project in the Yukon Territory. The independent assessment, prepared by Tetra Tech, evaluated a base case of an open-pit mine (with a mining rate of 111,500 tonnes per day), an on-site concentrator (with a milling rate of 32,000 tonnes per day), and an initial capital cost of $863 million. The project is expected to produce (in concentrate) 1.959 billion pounds of nickel, 2.058 billion pounds of copper, and 7.119 million ounces of platinum, palladium, and gold during a mine life of 37 years with an average strip ratio of 2.57. The financial highlights of the preliminary economic assessment, shown in U.S. dollars, are as follows: Payback period: 3.55 years Prophecy Chairman John Lee says: "We are pleased with the preliminary economic assessment results. The numbers indicate that Wellgreen is one of most exciting mineral projects in the Yukon. The company is drilling to upgrade and expand the resource base. The infrastructure is excellent as the project is only 1,400 meters in altitude and 14 kilometers from the paved Alaska Highway, which leads to the Haines deep seaport. Discussions are under way with support from local stakeholders regarding permitting and logistics." For the complete press release, please visit: http://prophecyplat.com/news_2012_june18_prophecy_platinum_announces_res...
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| David Rosenberg's New Normal: "The Economy Does Not Drive The Markets Any More" Posted: 10 Sep 2012 05:28 PM PDT Bill Gross may be credited with inventing the term 'the New Normal', although his recommendation to purchase gold above all other asset classes, something which only fringe blogs such as this one have been saying is the best trade (in terms of return, Sharpe Ratio, and the ability to sleep soundly) for the past three and a half years, he is sure to be increasingly ostracized by the establishment, and told to take all his newfangled idioms with him in his exile to less than serious people land. Which takes us to David Rosenberg, who today revisits his own definition of the New Normal. And it, too, is just as applicable as that of the Pimco boss: "The new normal is that the economy doesn't drive markets any more." Short and sweet, although it also is up for debate whether the economy ever drove the markets in the first place. But that would open up a whole new conspiratorial can of worms, and is a discussion best saved for after Ben Bernanke decides to save the "housing market" by buying more hundreds of billions in MBS and lowering mortgage yields further, even though mortgage rates already are at record lows (something that mortgage applications apparently couldn't care less about as we showed last week), while "avoiding" to do everything in his power to boost the S&P, which recently was at 5 year highs, and certainly "avoiding" to listen to Chuck Schumer telling him to do his CTRL+P job, and "get to work" guaranteeing Schumer's donors have another whopper of a bonus season. From Gluskin Sheff: THE NEW NORMAL REVISITED
John Burbank, Passport Capital, ECB Bazooka Faces Pefipherai Tests. page 12 of the weekend FT
Louis Bacon. Moore Capital (same article) Indeed, the data and the markets have gone their separate ways just about everywhere on the planet because of this ever-rising threat of additional policy stimulus (see Optimism over Central Banks Lifts Risky Assets on page 11 of the weekend FT). Shorts are getting squeezed as a result. Wednesday is a key day from that perspective ... the consensus is now widespread that the Fed will announce a $600 billion QE extension, likely in MBS. Who would have thought that in a week that saw such an awful pair of data from two critical reports like ISM and nonfarm payrolls that the S&P 500 would have managed to rally 2_2% and the Nasdaq hit a new 12-year high? Not even the main earnings development, Intel cutting its sales guidance, could elicit much of a market reaction. Page M3 of Barron's (The Trader) cites three reasons for the extended bullish sentiment last week_ 1. An electrifying speech by former President Bill Clinton. 2. Mario Draghi pronounced the euro to be "irreversible- and laid out a plan to stabilize beleaguered euro-zone nations_ 3. China did its part for the markets Friday when it announced a plan to spend $157 billion on 60 different infrastructi ire projects. The horrible employment data? That showed up in the tenth paragraph (imagine zero job growth outside of three sectors- leisure, professional services and health/education). The new normal is that the economy doesn't drive markets any more. The correlations today are tighter with yield spreads between Spain and Germany (the overall positive tone globally coincided with Spanish 10-year yields sliding below 6% for the first time since May alongside a 20 basis point jump in German bund yields ... this has become the pulse for financial market confidence in general). In fact, we ran correlations between daily changes in 10-year spreads and in the S&P 500 level and found that the correlation has gone from -13% from 2000-2011 to -33% since 2011 (2011 to now, meaning widening in spreads is associated with negative returns on the S&P500 and that inverse relationship has been magnified nearly three-fold in the past two years).
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| The Historic Demise Of The Ever-Shrinking Dollar: An Infographic Posted: 10 Sep 2012 05:00 PM PDT The almighty Dollar is looking less mighty these days. By almost every measure, the purchasing power of the US Dollar is in precipitous decline. The following infographic, whose contents should be well-known to our readers, visualizes the sad state of affairs that the average American seems to have ignored for far too long. And since the whole world is now engaged in the 4th year of all out currency debasement one can safely channel Lester Burnham and say it's "all downhill from here."
Infographic By Wholesale Gold Group
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| David Gurwitz–Charles Nenner Says $2500 Gold-$5 Nat Gas-Dolar Collapse 18 Months And More 10.Sept.1 Posted: 10 Sep 2012 03:12 PM PDT www.FinancialSurvivalNetwork.com presents David Gurwitz is Managing Director of Charles Nenner Research. Nenner is a legendary cycle investor who's continue to make the big calls. I spoke with David today and the conversation was chock full of blockbuster disclosures. Nenner's predicting war in Israel, dollar collapse in 18 months, $5 natural gas and so many cataclysmic events. He believes that there's life after death for the Euro and that it will become the reserve currency. While some of his calls seem highly improbable and extremely unlikely, remember that Nenner was calling for $1500 gold when it hit $1900 a year ago. So doubt him at your own risk. Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.
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| Ranting Andy Hoffman–Life Imitating Fargo (The Movie) 10.Sept.12 Posted: 10 Sep 2012 03:08 PM PDT www.FinancialSurvivalNetwork.com presents Ranting Andy Hoffman called in today from an undisclosed location. Our theory is that he was making a large personal delivery of highly valuable gold and silver bullion, but who knows? Andy wasn't saying and we weren't asking. To him the current announced or admitted policy of QE to Infinity is much like the popular movie Fargo. Eventually, in the name of survival, many people are needlessly killed. And here, many economies and people will be needlessly destroyed. There's nothing quite like life imitating art. Go to www.FinancialSurvivalNetwork.com for the latest info on the economy and precious metals markets.
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| Posted: 10 Sep 2012 02:51 PM PDT Global economy is in worse shape: OECD economist Economy 'highly mediocre,' top forecaster says U.S. Debt forecast: U.S. will look like Greece by 2021 Democrats avoid mention of deficits, soaring national debt U.S. MANUFACTURING ISM factory index contracts for third … Continue reading
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| Senior Golds Look to Juniors for Growth: David Goguen Posted: 10 Sep 2012 02:33 PM PDT The Gold Report: Dave, tell us a little bit about PI Financial. David Goguen: PI Financial Corp. (PI) is one of Canada's largest, independent, employee-owned full service investment dealers. PI has been advising and financing the mining sector for the past 30 years and I have been providing resource sales coverage to institutional clients for over 15 years. TGR: It's been a tumultuous year in the mining space. Maybe gold prices haven't hit the highs that we saw in 2011, but with prices hovering around $1,700/oz, most gold producers can make a profit. On the other hand, equities—particularly the mid caps, small caps and micro caps—have been decimated by summer doldrums or investor disinterest. PI Financial obviously sees opportunity in the mining sector. DG: A very good proxy for the senior gold companies is the Van Eck Market Vectors Gold Miners ETF (GDX). Going back 12 months from today, this ETF is down 23%. Over the same period, the Market Vectors Junior Miners ETF (GDXJ...
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| Stockman – Fed is the Heart of the Problem Posted: 10 Sep 2012 02:26 PM PDT Former Budget Director under Ronald Reagan, David Stockman, said the Fed is "the heart of the problem and we have destroyed the capital markets," to kick off this CNBC segment. Then he really gets going. "Interest rates mean nothing. Everything is trading off the Fed," Stockman continued, "In that environment everybody is being given the wrong signal." The frustrated, pessimistic economist has harsh words for the Bernanke Federal Reserve. "The Fed and these lunatics that are running it, and I use that word advisedly, are basically telling the whole world untruths about the cost of money, about the cost of risk, about how you allocate capital." Speaking specifically about republicans, Stockman carped: "Everything that Ronald Reagan stood for in the 1980s went down the tubes in September 2008 when they bailed out Wall Street – when they came in with this TARP (Troubled Asset Relief Program) which was an abomination. When they were unwilling to let Morgan Stanley go down the tubes, which it should have because of the speculation it was doing and (its) irresponsible reckless balance sheet it had." Much, much more in this too short video from CNBC. We found it worthy of sharing.
Source: CNBC
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| Manipulating inflation expectations won't work for Fed, Turk says Posted: 10 Sep 2012 02:14 PM PDT 4:10p ET Monday, September 10, 2012 Dear Friend of GATA and Gold: GoldMoney founder and GATA consultant James Turk today tells King World News that investors may be waiting for a pullback in gold and silver but the "currency cliff" is so close that there's a big risk that they won't get one. Turk adds that while the Federal Reserve thinks it can control inflation by manipulating the public's expections, reality still gets out of hand. An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/9/10_Tu... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Fred Goldstein and Tim Murphy open All Pro Gold Longtime GATA supporters Fred Goldstein and Tim Murphy have brought their many years of experience in the precious metals and numismatic coins to All Pro Gold as metals brokers who specialize in the delivery of gold and silver bullion bars and coins as well as numismatic gold and silver coins. Fred and Tim follow these markets closely and are assisted by a team of consultants in monitoring market trends. All Pro Gold offers GATA supporters competitive pricing on all bullion products and welcomes inquiries. Tim can be reached at 602-299-2585 and Tim@allprogold.com, Fred at 602-799-8378 and Fred@allprogold.com. Ask about their ratio strategy and the relationship of generic $20 dollar gold pieces to 1-ounce gold bullion coins. Visit their Internet site at http://www.allprogold.com/. Join GATA here: Toronto Resource Investment Conference New Orleans Investment Conference * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Prophecy Platinum Announces Wellgreen Preliminary Economic Assessment: Company Press Release VANCOUVER, British Columbia, Canada -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) reports the results of an independent NI 43-101-compliant preliminary economic assessment for its fully owned Wellgreen nickel-copper-platinum group metals project in the Yukon Territory. The independent assessment, prepared by Tetra Tech, evaluated a base case of an open-pit mine (with a mining rate of 111,500 tonnes per day), an on-site concentrator (with a milling rate of 32,000 tonnes per day), and an initial capital cost of $863 million. The project is expected to produce (in concentrate) 1.959 billion pounds of nickel, 2.058 billion pounds of copper, and 7.119 million ounces of platinum, palladium, and gold during a mine life of 37 years with an average strip ratio of 2.57. The financial highlights of the preliminary economic assessment, shown in U.S. dollars, are as follows: Payback period: 3.55 years Prophecy Chairman John Lee says: "We are pleased with the preliminary economic assessment results. The numbers indicate that Wellgreen is one of most exciting mineral projects in the Yukon. The company is drilling to upgrade and expand the resource base. The infrastructure is excellent as the project is only 1,400 meters in altitude and 14 kilometers from the paved Alaska Highway, which leads to the Haines deep seaport. Discussions are under way with support from local stakeholders regarding permitting and logistics." For the complete press release, please visit: http://prophecyplat.com/news_2012_june18_prophecy_platinum_announces_res...
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| Public Employees: They Are Different From You and Me... Posted: 10 Sep 2012 02:13 PM PDT (Note: for those unaware, my title is a play on F. Scott Fitzgerald's quote: "Let me tell you about the very rich. They are different from you and me.") We live in a self-entitled society and no sector is more self-entitled than those who work for the Government, supported by taxpayers with guaranteed salaries and pensions. Their sense of self-entitlement is worse than that of the lumbering herd of overweight middle class houseswives who drive around in their gas-guzzling, over-sized SUVs, running up credit card debt and chatting on their cellphone the second they get into their car... - Dave in Denver, 9/10/12Teachers in Chicago went on strike today over demands for a 19% pay raise and refusal to accept a teacher evaluation system which would hold teachers accountable for performance. The first thing that needs to be pointed out is the obvious: Illinois is running neck and neck with California over status as the most bankrupt State. Illinois operates in a deficit on a daily basis and, even if teacher pay hikes were warranted, can not afford it. But here's some numbers that will shock you: The average teacher pay in Chicago is $71,000, not including benefits. The average Chicagoan makes $30,203 and the city's unemployment as measured by the Government is 11%. I don't think the teachers will get any support outside of their own kind for higher pay, especially when you factor in the fact that teacher pensions are guaranteed by the taxpayers and they are eligible for retirement benefits after 20 years of service. And don't forget that teaching is a 10 month endeavor, at least for the ones that care about the product they produce - the rest of them coast along at the end of the summer until they have to walk into the classroom. In hearing from teachers I know who are hard-working and care about their classroom performance, the tenure system needs to be completely overhauled. Teachers should be required to demonstrate competence and good performance. I know a few teachers who rarely use up their full allotted time off during the school year and feel compelled to make up the for laziness and incompetence around them. On the other hand, I personally know a teacher who takes more than her allotted personal time and sick leave days, exploiting the willingness of the school principal to look the other way. I know this dynamic is pretty common in the school systems in Colorado, I can only imagine how bad it is in the major cities like Chicago, L.A. and NYC. This is the kind of crud that needs to be weeded out the teachers union and the system for hiring and retaining teachers. The fact that teachers can feel entitled to big pay raises, while their private sector peers are struggling is beyond absurd. Compensating teachers based on tenure is the recipe for poor results. The education system in the United States ranks 14th, 25th and 17th globally in reading, math and science respectively, according the OECD (Organization for Economic Cooperation and Development). Given the level of pay and benefits for teachers in this country, that fact is just appalling. And this problem is not just with teachers, although it hits home the hardest because the teachers in our public school system spend almost as much time with our kids from age of 5-18 as do parents. But every category of Government employee demands a much higher level of pay than is given in the private sector. How many private sector jobs have guaranteed pay and benefits? (note: I'm talking about pay for rank and file, not Wall St. or upper management, but that's another issue). I do not know of any. And a lot of large-company 401k plans are comprised of a high degree of corporate stock. No guarantee there either. Teacher pensions are essentially deferred cash payments guaranteed by the Taxpayers. I don't know when and how Government employees in general assumed the mantel of self-entitlement, but the salary and benefit packages given to public servants is another "bubble" in our economic/political system that is contributing to the overall collapse our country. It starts with Congress with things like Congressmen having their own healthcare plan, thereby avoiding the highly disastrous Obamacare. And it continues with teachers demanding more pay when States can't afford it under any circumstances and with refusal to implement pay for performance compensation plans in lieu of pay for tenure. It makes me sad to see the Chicago teachers exhibit this high degree of self-entitlement with their contract demands. But it speaks volumes about the degree to which our system has deteriorated and is in a state of collapse... 
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Every single year, millions of young adults head off to colleges and universities all over America full of hopes and dreams. But what most of those fresh-faced youngsters do not realize is that by taking on student loan debt they are signing up for a life of debt slavery. Student loan debt has become 
Lindsey Williams did an interview with Goldseek last week explaining the upcoming collapse of the U.S. Dollar & economy as well as the shutting down of the biggest oil drilling rig in the world –THE LIBERTY RIG. Lindsey was a pastor to the elite during his stay in Alaska (1970′s) when they were working on the Prudhoe Bay oil field. Lindsey believes he has an 'INSIDE SCOOP TO THE ELITE" and shares this supposed information on interviews and DVDs.
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