Gold World News Flash |
- GOLDRUNNER: THE FED, DEBT, AND GOLD- Pt. 2- Follow the dots . . . . . . .
- Communication Items You’ll Want Before TSHTF
- Porter Stansberry Visits With the Lovely & Informed Lauren Lyster, About Dollar Collapse & Russian Gold
- Bullion Buying Public Still Groggy From Sidelined Fed in 2012, Though US Bullion Sales Move Higher in September
- Determining the value of gold
- Royal Gold – What Now?
- Jim's Mailbox
- GOLDRUNNER: THE FED, DEBT, AND GOLD- Pt. 1- Follow the dots . . . . . . .
- GATA - Judge throws out CFTC's position limits rule
- Qatar worried about value of dollar and euro
- US Student Loan Default Rate Inching Up, While Silver Price and Student Debt Soar Already 500% in 21st Century
- Greek Bad Loans Climb To Record 25% Of Total
- “With more printing money, without having a strategy, I believe the value of the money will go down very soon.”
- A Return to a Global Gold Standard is Inevitable ? Here are 4 Scenarios that Could Cause it to Happen
- This Past Week in Gold
- Saturday (morning) Market Wrap for September 29, 2012
- New York's Ultraluxury Office Vacancy Rate Jumps To Two Year High As Financial Firms Brace For Impact
- More Unintended Consequences of Fed Intervention: Killing Germany's Exports and a US Debt Bubble Implosion
- Gold!!! Silver!!!!
- Gold All Time High in Euro, Franc, Peso, Rupee, Rupiah, Real & Rand
| GOLDRUNNER: THE FED, DEBT, AND GOLD- Pt. 2- Follow the dots . . . . . . . Posted: 29 Sep 2012 11:40 PM PDT *. . . . . .BACK TO ROTHSCHILD'S COMMENTS Think about it.* "Give me control of a nation's money, and I care not who makes its laws."* Control of the money is control of everything.* By the Central Banks deciding whether to aggressively print paper currency in the K-Wave Winter, or when it cannot print when the Dollar was tied to Gold- is control over whether we will have "inflation or deflation."* "Money" to the people and to the economy is like water is to plants.* Plenty of money and the economy blooms- lack of money and the economy "recedes" or worsens to depression. Let's take that another step.* Since the Fed has the control of the money, it knows in advance what it will do.* Thus, the Fed Banks have very powerful legal inside information that they can make business decisions upon, and that they can invest upon.* Thus, one might suggest that the Fed Banks can front-run everything that they do while taking no risk, whatsoever!* Ever wonder how paper gold can be shorted while the ...
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| Communication Items You’ll Want Before TSHTF Posted: 29 Sep 2012 11:00 PM PDT by Dan and Sheila, TheSurvivalMom.com:
Having good radio equipment is important for many reasons. What will you do when there is no Internet? What will you do when there is no cellphone service? How will you know what's going on in other parts of the country, let alone the world? Radio signals don't need an intermediary, they just bounce all over the earth and are received by radios. A 10 meter radio is very common and inexpensive, as well as their low-rent cousins, CB radios. Many can be found on ebay for under $200 and may already have the additional frequencies installed. Also any good SSB (single side band) CB radio can have what they call "Extra Channels Added" by any good tech. (Lots of mods here.) CB shops at truck stops often times have used free band radios for sale at good prices, but check Ebay for prices on used radios before going. What you need to know about frequencies Any frequency on the radio can be used in various modes, the most common being AM, Single Side Band (SSB), Upper Side Band (USB) and CW. CW means constant wave mode, which is the mode used for Morse Code and RTTY. It is possible to send several and receive multiple pages of text files via RTTY. The software needed can be found here. Radios with a CW mode like the RCI 2950 (et al) and the Uniden HR2510 have the CW mode installed. There are other models that also have CW mode, however no CB radios have CW mode. You can send pictures and text files to others, similar to a fax. This will be an excellent way for the people to maintain contact with others during times of crisis or total collapse. Read More @ TheSurvivalMom.com
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| Posted: 29 Sep 2012 09:40 PM PDT from StansberryMedia : Stansberry Radio welcomes its first ever female guest, RT America anchor Lauren Lyster. Lyster is the host of Capital Account – one of the most popular economic shows on the Internet. This isn't the normal Q&A debate listeners are used to hearing… you won't want to miss the game we played with Lauren!
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| Posted: 29 Sep 2012 09:39 PM PDT from Silver Vigilante:
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| Posted: 29 Sep 2012 07:30 PM PDT from Gold Money:
When considering whether gold is a value investment, one needs to first recognise that gold does not have a balance sheet, management team, price-earnings ratio or any of the other things one needs to analyse before making an investment. Also, gold does not generate any cash flow, so it does not pay a dividend. We can therefore conclude from these observations that gold is not an investment. Indeed, it is something different, which means that normal investment analytical techniques cannot be used to determine gold's value. Value of course arises from an item's usefulness, and gold is useful because it is money. Though only used as currency these days in a few places like Turkey and Vietnam, gold is still useful in economic calculation, or in other words, measuring the price of goods and services.
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| Posted: 29 Sep 2012 06:45 PM PDT Jim, You told the community about Royal Gold and we got involved. That was in 2004 in the $14-$15 region. It hit triple digits today for the first time. Thank you! Regards, CIGA Dave Dear Dave, The royalty companies who are truly gold banks, such as RGLD, have done extremely well. What has Continue reading Royal Gold – What Now?
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| Posted: 29 Sep 2012 06:42 PM PDT Hello Jim, There is a discussion on Bloomberg regarding caption and IEEPA: http://en.wikipedia.org/wiki/International_Emergency_Economic_Powers_Act You are probably getting several emails and calls on this. Cheers, CIGA Patrice Patrice, With focused disinformation on gold increasing exponentially, the move to $3500 cannot be far away. The selection to block at $1775 cash in the paper market proves Continue reading Jim's Mailbox
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| GOLDRUNNER: THE FED, DEBT, AND GOLD- Pt. 1- Follow the dots . . . . . . . Posted: 29 Sep 2012 05:32 PM PDT *. . . . . . . . REALITY VERSUS FANTASY This period of the long-term investing cycle is all about reality versus fantasy, but on several different levels.* The system has been turned upside down by using "paper derivatives" that can be expanded to infinity for "price discovery."* Even paper money is a "derivative" since periodically in the long-term cycle, like today, the world must turn to REAL MONEY GOLD to bail out the paper currency system. Think about the themes that have dominated the news over the last decade, so. 1)***** *We have been brow beaten by the Fed and Treasury Department droning on about a "Strong Dollar Policy."* That has been pure fantasy as the Fed and Treasury Department orchestrated a crash in the value of the US Dollar of over 60% to date, with much more to come. 2)***** "The Dow Stocks will crash on the price charts." Again fantasy-The price of the Dow Stocks has been volatile, yet today, the Dow is about 25% above the year 2000 highs and only slightly off ...
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| GATA - Judge throws out CFTC's position limits rule Posted: 29 Sep 2012 04:24 PM PDT Our friend Chris Powell at the Gold Anti-Trust Action Committee put CFTC Commissioner Bart Chilton's comment underneath a Reuters article which reports that a federal judge has thrown out the Commodity Futures Trading Commission's (CFTC's) new position limits rule practically on the eve of its adoption by the CFTC. Alexandra Alper and Karey Wutkowski, writing for Reuters, reported: "Judge Robert Wilkins of the U.S. District Court for the District of Columbia threw out the U.S. Commodity Futures Trading Commission's new position limits rule and sent the regulation back to the agency for further consideration. Wilkins ruled that, by law, the CFTC was required to prove that the position limits in commodity markets are necessary to diminish or prevent excessive speculation. He also ruled that the amendments to the 2010 Dodd-Frank financial oversight law "do not constitute a clear and unambiguous mandate to set position limits, as the commission argues."The ruling is a major victory for traders just two weeks before parts of the new position limits rule were scheduled to go into effect." ... More at the link below. Commissioner Chilton responded in a statement: "This is obviously tough news for those of us who believe there's too much speculative concentration in commodity futures and swap markets. While I respect the judgment of the court, there's no question that huge individual trader positions have the potential to influence prices in a way that hurts legitimate hedgers and ultimately consumers." For the entire story and Commissioner Chilton's full statement, please visit GATA at the link below. Source: GATA http://www.gata.org/node/11782 Comment: There were massive changes in the positioning of traders in last week's (for September 18) COT report which were likely associated with the impending position limits, that may or may not be reversed just ahead. We here at Got Gold Report have never been a proponent of draconian position limits per se, holding that position limits are not now and never have been the problem with the metals futures markets. Rather, it has been and may still be that a select group of elite traders are eligible for huge position and accountability limit exemptions from the existing limits, in effect granting an unfair advantage to traders the CFTC classes as "bona fide hedgers." If the CFTC would adhere strictly to the current position limit regime, granting zero exemptions to any trader, there could not be an unfair concentration by either side of the battlefield, assuming the regs are enforced. Indeed, we contend that the new position limits, as proposed, which we believe still allow the harmful position and accountability limit exemptions to "bona fide hedgers," are much more harmful than helpful. They almost certainly will lead to decreased liquidity, increased concentration and flight of market participants to opaque overseas markets. It's not the current limits that cause concentration in futures markets. It is the CFTC's granting of large exemptions to them for a favored few that does. Don't let Commissioner Chilton, Chairman Gensler or anyone else confuse to the contrary. -- Gene Arensberg for Got Gold Report.
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| Qatar worried about value of dollar and euro Posted: 29 Sep 2012 02:36 PM PDT By Angus McDowall http://www.reuters.com/article/2012/09/29/us-qatar-investment-idUSBRE88S... RIYADH, Saudi Arabia -- Wealthy Qatar, a major investor in U.S. and European assets, worries that haphazard attempts by countries to shore up their economies could weaken the dollar and the euro, its prime minister said. "What should happen is we should have a full package with a full strategy to solve the problems," Sheikh Hamad bin Jassim al-Thani, who also heads the country's sovereign wealth fund, Qatar Investment Authority (QIA), told U.S. financial broadcaster CNBC in an interview aired on Friday. This month the U.S. Federal Reserve announced a program of heavy purchases of mortgage-backed securities in an effort to boost employment, but the U.S. government has so far failed to reassure financial markets that it has an effective plan to cut its budget deficit and boost economic growth. ... Dispatch continues below ... ADVERTISEMENT Prophecy Platinum Intercepts Best Pt+Pd+Au Grades Yet Company Press Release VANCOUVER, British Columbia -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) announces more results of its 2012 drill program on the company's fully-owned Wellgreen platinum group metals, nickel, and copper project in southwestern Yukon Territory, Canada. Four surface holes and four underground holes all intercepted significant mineralized widths, ranging from 28.5 meters (WS12-201) and up to 459.5 metres (WS12-193). Highlights include WU12-540, which returned 8.9 metres of 5.36 grams per tonne platinum, palladium, and gold; 1.73 percent copper; and 1.01 percent nickel within 304.5 meters of 0.66 g/t platinum-palladium-gold, 0.20 percent copper, and 0.27 percent nickel. The surface drill program started in June and has completed 16 holes (assays pending for 12 holes) with two rigs now on site. The surface program continues to progress at a steady pace. Prophecy Chairman John Lee commented: "Wellgreen is a very large nickel, copper, and platinum group metals project with near-surface high-grade zones. High-grade intercepts will be incorporated into resource modeling and mine planning in the pre-feasibility study. We expect further positive drill results from Wellgreen shortly." Wellgreen features a low 2.59-to-1 strip ratio, is situated at an altitude of 1,300 meters, and is only 15 kilometers from the two-lane paved Alaska Highway. Those factors significantly minimize the project's indirect costs. For the complete company statement with full tabulation of the drilling results, please visit: http://prophecyplat.com/news_2012_sep11_prophecy_platinum_drill_results.... The European Central Bank has also said it will buy bonds to protect economies from the euro zone debt crisis, but governments of weak countries such as Greece and Spain have not persuaded investors their debts can be cut to safe levels. Sheikh Hamad said the central banks were right to act to prevent worse crises, but added: "With more printing money, without having a strategy, I believe the value of the money will go down very soon." He did not give details of the economic measures which he believed Western countries should be taking, but said the risk of further volatility in markets was making investors such as Qatar cautious. Analysts have estimated the size of Qatar's sovereign wealth fund at around $100 billion. "There are some questions with no answer up to now," he told CNBC. However, Sheikh Hamad added that Qatar would retain holdings of strategic stocks and buy when prices dropped, and that it would continue to make new investments in promising assets. He said he was optimistic about the longer-term future of the banking industry, since better regulation and capital-raising would strengthen banks after some years. He noted that QIA had a strategic stake in Credit Suisse and owned about 1 percent of Bank of America and 5 percent of Santander Brasil among other banks. The gas-rich Gulf state has bought more than $5 billion or $6 billion of real estate assets over the last four to five months, mostly in the United States and Europe, Sheikh Hamad said. "If there is some good opportunity, why not?" he said of investing in crisis-hit Europe. Qatar, which owns just over 12 percent of Xstrata (XTA.L), will help to determine the success or failure of Glencore's $32 billion offer for the miner. Glencore was forced earlier this month to raise its bid price, offering 3.05 new shares for every Xstrata share instead of 2.8, after Qatari pressure. As a condition, however, Glencore imposed its own chief executive and largest single shareholder, Ivan Glasenberg, at the head of the combined group. Xstrata's directors face a Monday deadline to decide their position on Glencore's higher offer. Sheikh Hamad told CNBC: "We have no problem with the new price," but added, "Other aspects (of the proposed deal) have to be studied." He declined to elaborate. This week Reuters quoted banking sources as saying Qatar Holding, one of the country's investment vehicles, was in advanced talks to buy a 49-percent stake in Brazilian billionaire Eike Batista's gold firm AUX for about $2 billion. Qatar Holding subsequently issued a statement denying that such talks had taken place. However, asked about Qatar's intentions towards AUX, Sheikh Hamad told CNBC: "We're studying it. Still there is no commitment from our side." Details of the proposal need to be presented to the board, he added without elaborating. 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 GoldMoney adds Toronto vaulting option In addition to its precious metals storage facilities in Hong Kong, Switzerland, and the United Kingdom, GoldMoney customers now can store their gold and silver in a high-security vault operated by Brink's in Toronto, Ontario, Canada. GoldMoney also has recently partnered with Rhenus Freight Logistics to offer another gold storage option in Switzerland. The Rhenus vault is in the secured zone of Zurich Airport and offers customers superb security as well as the ability to inspect their gold. Storage at the new vaults in Canada and Switzerland is available at GoldMoney's lowest fees. Customers can select their storage location when placing their buy order. GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults. It's easy to open an account, add funds, and liquidate your investment. For more information, visit: http://www.goldmoney.com/?gmrefcode=gata
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| Posted: 29 Sep 2012 01:11 PM PDT Student Loan Default Rate Inching Up The percentage of student borrows who defaulted on their federal student loans within two years of their first payment jumped to 9.1% in fiscal year 2011, up from 8.8% the previous years, according to … Continue reading
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| Greek Bad Loans Climb To Record 25% Of Total Posted: 29 Sep 2012 11:48 AM PDT It appears that in the past few weeks, the number 25% is strange attractor of bad luck for Greece. First, a month ago we learned that Greek unemployment has for the first time ever reached 25%. Now we get to see the income statement and balance sheet manifestation of a society in socioeconomic collapse - Kathimerini reports that Greek bad loans, or those which haven't seen a payment made in over 3 months, have hit a record €57 billion, or 25% of all bank debt. "With one in every four loans not being repaid for more than three months, the bank system is feeling the pressure, leading to additional capital requirements that are expected to aggravate the state debt further." That was Kathimerini's spin. The reality is that just like in Spain, where between bad loans and deposit outflows, the country has become a protectorate of the ECB, which is now fully in control of its banking system, so too in Greece Mario Draghi's tentacles are now in every bank office. Should Greece repeat the festivities of this summer and threaten to pull out of the Eurozone, the ECB will merely in turn threaten to push the red button and cut off all cash to terminally insolvent Greek banks, which of course would also mean a total halt of all deposit outflow activity. So instead what will happen is the ongoing rise in unemployment, and the increase in bad loans as percent of total, until one day the economy, even with all the money in the world pumped into it from Frankfurt, will no longer move. That day is getting very close. From Kathimerini:
One "solution" to dealing with untenable debt: extending debt slavery in perpetuity:
Another "solution", because there is never such a thing as a free lunch, or debt amnesty, is to have all those other people who lived prudent, and fiscally responsible financial lives, bail out the deadbeats, who after monetizing the benefits of loans they had taken out without a gun to their heads up front, have now refused to pay their contractual obligations.
Here is the problem: you don't incentivize someone to pay their debt by telling them the already massive debtload will be cut by 30% as a result of it being too great. You incentivize them to pile on even more debt! But such is (the lack of) logic in the New Normal Insolvent world. Pick your poison.
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| Posted: 29 Sep 2012 11:31 AM PDT Qatar says worried about value of dollar, euro
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| Posted: 29 Sep 2012 11:30 AM PDT In the years ahead we will witness the death of paper money and the reemergence of a global gold standard. This article examines why this transition is inevitable, how it might occur, and how to protect yourself from it. Words: 1086 So says Ben Mountifield ([url]www.247Bull.com[/url]) in edited excerpts from his original article*. [INDENT]Lorimer Wilson, editor of [B][COLOR=#0000ff]www.munKNEE.com (Your Key to Making Money!) and www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) has edited the article below for length and clarity – see Editor's Note at the bottom of the page. This paragraph must be included in any article re-posting to avoid copyright infringement.[/COLOR][/B] [/INDENT]Mountifield goes on to say, in part: Why a return to some form of global gold standard is inevitable In the coming months and years governments around the world will do everything in their power to prevent a global depression. They will do this by printing massive am...
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| Posted: 29 Sep 2012 11:21 AM PDT Summary: Long term - on major sell signal. Short term - on mixed signals. Read More...
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| Saturday (morning) Market Wrap for September 29, 2012 Posted: 29 Sep 2012 11:19 AM PDT Oil (Crude) took it on the chin by almost 6.00% two weeks ago and was Down again this past week by over 1.10% and looks very Bearish for the near-term (one month or so). Gold hung in there again but was flat. I am Forecasting another Pull-Back. Read More...
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| Posted: 29 Sep 2012 11:14 AM PDT
From Bloomberg:
If there is any indicator of financial firm demand for property, and thus their outlook on future prosperity, it is the state of the Plaza real estate market:
Needless to say, the primary driver of the surge of vacancy, is ongoing corporate downsizing coupled with collapsing tenant cash flows.
The reason why landlord REITs and other entities can keep rents as high as they want even as vacancy rates soar is that the funding cost in a ZIRP environment is virtually nil.
Of course, under ZIRP, it will take much, much longer, before a true clearing market manifests itself. As a result, there is little opportunity cost to keep space unoccupied as there is little required cash outflows. It also means that many skyscrapers in what was once NY's most desired area, are now half empty.
The building in question is 666 Fifth. This is ironic, because it is the same building we discussed years ago, and was captured in one of our first posts, when we began our narrative of the Second Great Depression. Nearly four years ago we said:
Sure enough, in the end we were once again proven right. And had it not been for the now ubiquitous manipulation of every market by the Federal Reserve, this prediction would have been validated long ago. Yet while under the New Normal one can dilute cash infinitely, one can never print actual cash flows, economic growth, and true wealth. It is the last three, or rather their absence, that is once again starting to become felt by everyone, and certainly the critical, and most "marginal", sector of the economy.
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| Posted: 29 Sep 2012 09:22 AM PDT
We’ve noted other consequences of the Fed’s action here.
Today our focus is on how a falling Dollar will crush European and Asian exporters.
Over 50% of Germany’s economy is based on exports. So if the US Dollar continues to fall, Germany’s economy will implode. This in turn will put Europe in an even bigger bind as its primary backstop, Germany, will be facing a serious recession at the very time that Spain and Italy start asking for bailouts (sometime in the next 3-4 months).
In China, a falling Dollar will have a similar impact on its already fragile economy (see last issue for more information on China’s hard landing). Indeed, Fed Ex’s recent conference call gave some key insights into the real state of affairs in China.
Frederick W. Smith - Founder, Executive Chairman, Chief Executive Officer and President [of Fed Ex]
I can tell you this on China. The locomotive that has driven China's growth is its export industries. And with the situation in Europe and, to a lesser degree, in North America, that is a significant issue for the Chinese economy. Now the consumer consumption in China is not increasing at a significant rate, contrary to everybody's hopes. While exports from, say, the United States into China have grown, they are dwarfed by the exports from China into the United States. And as the big economies in Europe and the U.S. have grown or contracted -- grown at a far lesser rate or, in the case of certain European countries, have contracted, that's reflected in the numbers in China. And you can't escape that. I've been somewhat amused watching some of the China observers, I think, completely underestimate the effects of the slower exports on the overall China economy.
With roughly 30% of its population living off $2 a day or less, China is facing mass civil unrest from rising food prices.
Another unintended consequence, a US Treasuries collapse:
The Fed bought 77% of ALL Treasury issuance in 2011. If Treasuries start to collapse in spite of this massive support from the Fed then it’s GAME OVER for Fed intervention (and for the US’s debt bubble as well).
Again, the Fed is buying nearly ALL of the US’s debt issuance. If Treasuries collapse in this environment, we are heading into MAJOR inflation and very possibly hyperinflation. Indeed, all historical hyperinflationary episodes have come from Central banks monetizing their country’s deficits. This policy is sustainable until the Government/ country loses credibility in the bond market (its sovereign bonds collapse) at which point a currency crisis/hyperinflation begins.
Let me be clear: if US Treasuries collapse, then the US has lost credibility in the global markets and we’re going to face a currency Crisis. I am not saying that this will happen right now. Europe could always implode first, buying the US some time. But at some point the US debt situation will lead to a Crisis. And the Fed is pushing us ever closer to this with QE 3.
However, regardless of whether we ever face hyperinflation, one thing is certain: inflation is already a reality in the world and it will be getting worse going forward.
On that note, the time to start preparing is now. The printers are running. The Great Currency Debasement has begun. Some folks will walk out of this mess winners. Most will walk out as losers.
At Phoenix Capital Research, we’re taking steps to insure our clients are among the winners. We have a host of FREE Special Reports devoted to helping readers prepare for the coming Debt Implosions in both the US and Europe.
We also feature a special report devoted to inflation as well as which investments will perform best during periods of high inflation (periods like the one we’re entering).
All of this is available 100% FREE here.
Best Regards,
Phoenix Capital Research
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| Posted: 29 Sep 2012 04:27 AM PDT Gold And Silver Lead Everything Week-, Month-, Quarter-, & Year-To-Date "I've seen things."
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| Gold All Time High in Euro, Franc, Peso, Rupee, Rupiah, Real & Rand Posted: 29 Sep 2012 12:16 AM PDT News of physical gold priced in Euro and Swiss Franc hitting all-time highs was all over the media after Friday's trading. What's not making it into the news is that gold priced in several other major currencies has already surpassed their all-time highs over the past few weeks. The chart below shows this critical event [...] 
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Jobs at the US Mint are always safest in the midst of 
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