Gold World News Flash |
- Gold, protection against the folly of politicians
- Gold Seeker Closing Report: Gold and Silver End Slightly Higher
- The Soros Position Nobody is Talking About
- Has The Home (Stock) Owner 'Recovery' Run Its Course?"
- RBI Bans Bank Loans to Buy Gold
- Future Money Trends: The Day the World Ended
- How and Why a Spanish Default Would Trigger an Epic Financial Meltdown
- Commodity Technical Analysis: Gold Looking to Extend Towards 1760s
- The Time Frame Clock
- The Circle Is Complete: GM Reunites With GMAC
- The Gold Price Has Begun it's next Huge Rally Stop Waiting and Buy Now
- Andrew Maguire: Mechanics of Gold & Silver Price Suppression Through GLD & SLV Explained
- Stocks End Biggest 4-Day Run In 4 Months Amid Lowest Volume Of Year
- CHANNEL RESOURCES OUTLINES MAJOR NEW EXPLORATION TARGETS
- The Day the World Ended – WW3 Simulation (Starring the “Silver Keiser” 4:10)
- Gold Daily and Silver Weekly Charts
- Dominic Frisby – Why Gold is the Currency of the Free
- Michael Berry: When Picking Mineral Stocks, It's Management, Management, Management
- Denial
- Over 250 Gold Robberies in Stockton Since April: Police Taken By Surprise
- The Fed Will Keep Printing Until the Dollar Gets Weaker: Jim Rickards
- The Roadmap For $3,000+ Gold, $100+ Silver & 1,650 HUI
- Gold mostly higher in preholiday trade
- Indian government may offer bonds payable in gold
- Andrew Maguire: Price suppression mechanics of GLD and SLV
- The Daily Market Report
- Got Gold? Central Banks Are Getting Large Quantities
- Prepare For A Possible Price Spike In Gold And Silver
- Doug Casey on the America That Was – Now the United (Police) State of America
- Who’s Afraid of a Fiscal Cliff
| Gold, protection against the folly of politicians Posted: 21 Nov 2012 10:00 PM PST by Paul A. Ebeling, Jnr., International Business Times:
Gold will rise every Quarter next year and average 1,925 oz in Q-4, or 11% more than it is now, according to the median of 16 analyst estimates. Paulson & Co. has a $3.66-B bet through the SPDR Gold Trust GLD, the biggest Gold-backed exchange traded product, and Soros Fund Management LLC increased its holdings by 49% in Q-3, US Securities and Exchange Commission filings show.
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| Gold Seeker Closing Report: Gold and Silver End Slightly Higher Posted: 21 Nov 2012 10:00 PM PST Gold traded mostly slightly lower in Asia and London, but it then rose to as high as $1731.66 in New York and ended with a gain of 0.09%. Silver surged to as high as $33.378 and ended with a gain of 0.51%.
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| The Soros Position Nobody is Talking About Posted: 21 Nov 2012 09:00 PM PST by Tekoa Da Silva, Bull Market Thinking:
In the most recent 13-f filing on November 14th, the Soros fund increased its position in gold via the GLD fund from 884,400 shares, to 1.3+ million shares. That represents a sum of about $200 million. The fund increased its position in the GDX gold miners ETF from 1 million shares, to over 2.3 million, it added a 1.7 million share position in Kinross Gold, and finally, maintained a nearly 2.4 million share position in the GDXJ junior gold miners ETF. But it seems I left something out. Along with all the other financial news editors. Read More @ BullMarketThinking.com
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| Has The Home (Stock) Owner 'Recovery' Run Its Course?" Posted: 21 Nov 2012 08:38 PM PST Green shoots, growth off a small base, and self-reported awesomeness notwithstanding, the crux of many investors' thesis for believing in a housing recovery is the fact that homebuilder stocks have risen so magnificently; after all the stock market is a 'discounting mechanism' right? (aside from September 2000 and October 2007) The funny thing is - we've seen this kind of 'rally' in homebuilder stocks before, and somewhat remarkably we are following its trajectory almost to the day. 284-days from the March 2009 trough, XHB (the homebuilder ETF) peaked and then lost 30% in the next 45 days. Today marked Day-285 of the current homebuilder rally (coincidentally running at around the same 120% annualized return and exhibiting similar short-squeeze tendencies). Add to that worrying analog, the third divergence between homeowner 'comfort' and renter 'comfort this year - each prior time ending in a rapid collapse in homeowner confidence; and we remain skeptical that the 'market' knows best in this case.
We've seen this homebuilder-rally before...to the day!
The 2009-rally saw two jumps in short-interest which both were squeezed to provide just the fuel to keep the miracle alive (until the short-interest ratio fell back to around 1.3x)...
The 2012-rally has shown very similar jumps in short-interest and the recent rally has squeezed shorts out providing all the ammunition to extend the run to over 110% (leaving the short-interest-ratio back at around 1.3x once again)...
And combine that with the divergence between renter-confidence and owner-confidence (which has twice before this year ended with homeowners losing their 'hope')...
And we can't help but feel any 'real' recovery in housing necessitates the kind of influx of supply and movements off larger numbers (i.e. easy comps are over) that equities more than reflect the exuberant belief that this time is different at a debt saturation point.
Charts: Bloomberg
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| RBI Bans Bank Loans to Buy Gold Posted: 21 Nov 2012 07:20 PM PST from The Indian Express:
"…it is advised that no advances should be granted by banks for purchase of gold in any form, including primary gold, gold bullion, gold jewellery, gold coins, units of gold Exchange Traded Funds (ETF) and units of gold mutual funds," RBI said in a notification. No advances should be granted by banks against gold bullion to dealers or traders in gold if, in their assessment, such advances are likely to be utilised for purposes of financing gold purchase at auctions or speculative holding of stocks and bullion, it said. Read More @ www.indianexpress.com
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| Future Money Trends: The Day the World Ended Posted: 21 Nov 2012 07:15 PM PST 9:10p ET Wednesday, November 21, 2012 Dear Friend of GATA and Gold: Our friends at Future Money Trends have put together a couple of short mock-news videos depicting how international disputes could quickly spiral out of control with cataclysmic consquences for what we call our financial markets. While the videos together are only about eight minutes long, they may be enough to convince you to obtain all the gold and silver bullion you can -- and then start looking for a safe planet to keep it on. Future Money Trends calls its presentation "The Day the World Ended" and you can find the first part at YouTube here -- http://www.youtube.com/watch?v=wJdgudIUHzs&feature=plcp -- and the second part at the Future Money Trends Internet site here: http://futuremoneytrends.com/theend.php Your secretary/treasurer would have dispatched these sooner but, against the advent of an interruption in oil supplies, he wanted to buy a horse first. Now if only he could be trained to jump to Mars. CHRIS POWELL, Secretary/Treasurer 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.... Join GATA here: Vancouver Resource 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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| How and Why a Spanish Default Would Trigger an Epic Financial Meltdown Posted: 21 Nov 2012 06:20 PM PST by Graham Summers, Gains Pains & Capital:
Over the last week I've introduced the concept of collateral: the little known basis for the entire financial system. We've also addressed why any EU sovereign default would bring about an epic meltdown as EU bonds, particularly those of Spain and Italy are the collateral underlying hundreds of trillions of Euros worth of trades for EU banks. Again, the most important issue for the financial system is the search for high quality collateral. Indeed, it is the search for high grade collateral that has caused such periodic spikes in Treasuries, German Bunds, French sovereign bonds, and Japanese bonds (all of these have yielded 0% or even negative yields in the last five years). Big banks are moving away from PIIGS bonds into safer havens. Read More @ GainsPainsCapital.com
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| Commodity Technical Analysis: Gold Looking to Extend Towards 1760s Posted: 21 Nov 2012 06:05 PM PST courtesy of DailyFX.com November 21, 2012 04:56 PM Daily Bars Chart Prepared by Jamie Saettele, CMT Commodity Analysis: “Gold bounced from the 50% retracement of the rally from 1672.50 Thursday but what bothers me about being bullish is the corrective nature of the rally from the low (3 waves). However, the low on day 3 of the month and emotional trade at the low (11/2 was a JS Thrust day) suggests that price is likely to stay above 1672.50 for the remainder of November. Perhaps a complex correction is underway (series of 3 wave movements) throughout November.” Commodity Trading Strategy: “I’m on the lookout for a wave 2 or B top below the October high at higher levels.” LEVELS: 1698 1705 1717 1739 1749 1780...
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| Posted: 21 Nov 2012 05:15 PM PST The Market Pendulum timeframe model is really quite simple. The gears in this "clock" are the daily,weekly and monthly time frames. All one needsto know are their individual trend directions. Secondly, we need to know their respectiveinfluence on each other. Time Frame Clock Status –Gold, Silver and XAU Currently, the TDI timeframes are all synchronized in down trends. The next required step is apositive turn in the daily time frame. This event may mark an eventual migrationto a positive weekly, then monthly trend. As a reminder, the weeklytrend is 5 times stronger then daily and the monthly is up to 22 times stronger. The Influence of the VariousTime Frames This progression or lack ofprogress from one time frame to another is what gets people confused. Sometimesthe time frames are in sync, as they are now, but many times they are not. For example, if the daily ispositive but both the weekly and monthly are negative, the lifespan of the dailyis clearly limited because ...
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| The Circle Is Complete: GM Reunites With GMAC Posted: 21 Nov 2012 04:25 PM PST
From Bloomberg:
There... and every other place where GM is desperate to not only sell the car, but to provide the vendor financing as the locals just can't afford to buy that little piece of America they can't wait to call their own, if only until such time as the payments on said piece stop in 2 or 3 months. Another circle which is complete: that of peak credit stupidity, because while not having your own source of loans under the same roof at least provided for some operational prudence, now that GM can once again hand out loans like a drunken sailor to any Chinese or Latino American buyer that wishes to take a Chevy for a ride, and book the revenues immediately, even if the loan will be in default in several months, all bets are now off. Sadly, as is now the norm, the US taxpayer is about to get reamed even more. Because while the $4.2 billion in receivables will be promptly repaid, what won't be, will be the tens of billions in soon to be delinquent and discharged loans that GMAC 2.0's balance sheet will be riddled with following more horrible decisions by management dead set on pushing sales regardless of the future hit to the balance sheet, and as a result, will soon lead to yet another bailout of Government Motors. Finally, at least we now know what that $11 billion new revolver which the firm reported closing on just two weeks ago, and which provided for an extra $6 billion in dry powder, will be used for: GM will borrow at LIBOR + basis points, and use the proceeds to fund what will soon be a new international loan book in the tens of billions, which will be used with reckless abandon.
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| The Gold Price Has Begun it's next Huge Rally Stop Waiting and Buy Now Posted: 21 Nov 2012 04:16 PM PST Gold Price Close Today : 1727.90 Change : 4.70 or 0.27% Silver Price Close Today : 33.344 Change : 0.421 or 1.28% Gold Silver Ratio Today : 51.820 Change : -0.520 or -0.99% Silver Gold Ratio Today : 0.01930 Change : 0.000192 or 1.00% Platinum Price Close Today : 1581.40 Change : 10.90 or 0.69% Palladium Price Close Today : 650.70 Change : 12.95 or 2.03% S&P 500 : 1,391.03 Change : 3.22 or 0.23% Dow In GOLD$ : $153.57 Change : $ 0.18 or 0.12% Dow in GOLD oz : 7.429 Change : 0.009 or 0.12% Dow in SILVER oz : 384.98 Change : -3.45 or -0.89% Dow Industrial : 12,836.89 Change : 48.38 or 0.38% US Dollar Index : 80.94 Change : 0.053 or 0.07% The Silver and GOLD PRICE proved yet again that they have no intention of dropping further. They bounced off yesterday's lows and closed near today's highs. Gold closed $1.727.90, up 4.70, after a $1,731.46 high and $1,721.68 low. Silver gained 42.1 cents to 3334.4c. High was 3338c and low 3286c. Mark that the ratio dropped to 51.820 today from 52.340 yesterday. I remind y'all that a FALLING gold silver ratio accompanies a RISING gold and silver market. The GOLD PRICE and SILVER PRICE have begun their next huge rally. Buy now, stop waiting. Much higher prices loom. I wasn't going to write a commentary today, but my son said so many people called about my complaint yesterday about the US Post Office changing the rules on insured packages, I'd better explain further. They are no longer paying claims for bullion or currency shipped by "Insured Mail." This is not the same as "Registered Mail With Postal Insurance." Registered mail must be signed for every time it changes hands, so very, very rarely goes lost. "Insured Mail," on the other hand, might as well have a label that says, "Steal me, you can get away with it." The US Post Office has NOT stopped insuring gold or silver shipped by "Registered Mail with Postal Insurance." My wife Susan specifically asked that question. Only real solution is to get private insurance and use UPS or Fed-Ex. Today the US dollar index firmed up 4.6 basis points to 80.941. Big news was the yen, which gapped down again, ending the day down 1% at 121.16 cents to Y100. Euro moved sideways to $1.2827, up 0.08%. Currencies: US$1=Y82.54=E0.7796=0.029990 oz silver= 0.000579 oz gold. Stocks did nothing dramatic today, edged up as traders flattened position before the long weekend. May God bless all of you this Thanksgiving with grateful hearts. 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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| Andrew Maguire: Mechanics of Gold & Silver Price Suppression Through GLD & SLV Explained Posted: 21 Nov 2012 02:36 PM PST - There are two ways to own gold or silver bullion; Buy and store physical coins/bars or buy an electronic representation (also known as a "derivative") of gold or silver. Two of the more popular derivatives of these political metals are the GLD and SLV Electronic Traded Funds (ETFs). The International Business Times reported that [...] 
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| Stocks End Biggest 4-Day Run In 4 Months Amid Lowest Volume Of Year Posted: 21 Nov 2012 02:16 PM PST S&P 500 futures saw the lowest non-holiday trading day volume of the year and the lowest average trade size of the year also but capped a four-day win streak (biggest in four months) with small gain. The overnight plunge in futures (on EUR weakness following the Greek #Fail) was entirely retraced - slowly but surely but once Europe closed, the US was dead. Treasury weakness and EUR strength (JPY weakness) were the correlated drivers of equity exuberance today, oil flip-flopped in its non-believing 'cease-fire' way (recoupling with gold on the week); Silver surged; and credit tended to track stocks but HY modestly outperformed (though HYG closed red). VIX traded with a 14 handle briefly but ended +0.3 vols at 15.4%. Stocks (especially the big bellwethers) tracked VWAP all afternoon as all but Johnny-5 had left the building. HP Bonds cracked, AAPL green, SPY green, HYG red, VXX green, volume negligible - that is all. S&P 500 had its biggest four-day gain in four months
ETFs across the macro capital structure weren't beating to the same drum as stocks today...
And across asset-classes - lots of decoupling and recoupling this week, which makes sense given the lack of human involvement... Bonds and stocks exchanging swings and USD and Gold recoupling by the close...
High-yield credit spreads squeezed higher today, outperforming but HYG (the high-yield bond ETF) tended to underperform...
Commodities were mixed but Silver surged and interestingly Gold and Oil recoupled post cease-fire chatter just as they did yesterday...
It seemed oil prices rejected the hope that a cease-fire is really upon us...
Charts: Bloomberg and Capital Context Bonus Chart: Food for HP Thought as you gobble gobble tomorrow...HP's CDS points to considerably lower stock price...
HP Bonds started to crack today and yesterday falling towards CDS' view...
but bonds have a long way to go to really catch up...
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| CHANNEL RESOURCES OUTLINES MAJOR NEW EXPLORATION TARGETS Posted: 21 Nov 2012 01:48 PM PST • Multiple mineralized structures indicated within a six square kilometre prospective envelope Vancouver, BC - Channel Resources Ltd. ("Channel" or the "Company", TSX.V:CHU) is pleased to report that a soil sampling survey at the Tanwaka exploration target on the Tanlouka Gold Project has outlined major new gold anomalies that, together with other exploration activities undertaken to-date, shows signatures that are approximately twice the size of those that led to the discovery of the Mankarga 5 deposit for which the Company has recently announced a first resource estimate. The Tanwaka zone is located approximately ten kilometres north of the Mankarga Zone along a 12 kilometre long anomalous trend. A soil-sampling program was conducted on a nine square kilometer grid with lines 100 metres apart and 25 metre sample intervals. A total of 4,280 samples, including check samples, were analyzed for gold. Tanwaka Soil Anomalies Established Over Six Square Kilometre Prospective Area Map 1: Identified structures labeled on gold-in-soil contours An oval shaped central area of six square kilometres, measuring approximately 3 kilometres in a NNE direction and 2 kilometres in an EW direction, has been identified in the central/east portion of the grid with background gold-in-soils concentration of 10 ppb. Within this area are numerous zones encompassed by the 50 ppb gold contour, most of which are focused in two "corridors" labeled C1 and C2 and in three areas labeled M1, M2 and M3 (Map 1). Peak gold values within each of these areas are 1300 ppb in C1, 1815 ppb in C2, 2220 ppb in M1, 641 ppb in M2, and 1145 ppb in M3. (n.b.: 1000 ppb = 1 g/t Au). Corridor C1 is a 400 metre-wide structural feature clearly identified on magnetic gradient maps (Map 2) and hosts numerous NNW trending gold anomalies with over 1,600 metres of strike length. C2 is a 250 metre wide feature that is also identifiable on magnetic gradient maps and contains numerous NS trending gold anomalies along a strike length of 1,300 metres. Quartz veins within both C1 and C2 corridors have the same orientation as the contoured gold anomalies within each corridor. The orientation of the contoured gold trends within C1 and C2 is similar to that of subsidiary structures contained within the bounding faults of a classic shear zone system. Grab samples taken from quartz vein material at artisanal mining sites within C1 and C2 returned gold values up to 3.06 g/t Au (Map3) (Cautionary Note: grab sample results are indicative only and do not represent average grades). The highest concentration of gold anomalies in the area can be found where the NW trending C1 and NE trending C2 corridors intersect. In this area (area 'A' on Map 3) artisanal miners are exploiting multiple mineralized quartz veins that are hosted by granodiorite and diorite to the west and mafic schist to the east, indicating that an intrusive margin is also present. In this junction area there is a prospective EW trending rectangular block measuring 800 metres X 300 metres with gold in soil values exceeding 50 ppb Au and with a maximum of 1300 ppb Au. Gold-in-soil anomalies labeled M1, M2 and M3 coincide clearly with magnetic highs (Map 2). Within the M1 anomaly, mineralized quartz veins found in artisanal workings (B, C, D and E on Map 3) have a roughly NE orientation parallel to the magnetic trend. Grab samples of quartz vein material hosted in granodiorite from these sites returned values ranging up to 35.1 g/t Au (Map 3). A NW trending placer gold deposit being worked by artisanal miners (area F on Map 3) features a drainage approximately 800 metres long where sands and gravels are being washed to recover gold. The pay zones are in the order of 0.30 to 0.75 metres thick and are buried under approximately 2 metres of recent sediments. Sampling of these gravels returned values ranging from 0.08 g/t Au to 2.45 g/t Au in material that contained significant quartz vein debris. This seasonally dry alluvial channel is downstream of the area covered by the anomalous C1 zone located to the east and south of the placer deposit. Gold Anomalies at Tanwaka Encompass Twice the Area of Mankarga 5 Map 4: Mankarga 5 gold-in-soil structure relative to drilled structures www.channelresources.ca/i/pdf/112112nrmaps.pdf , and shown below. A soil sampling survey was carried out on the Mankarga 5 area in 2011 on a 20 metre by 50 metre grid in order to test the effectiveness of the soil sampling methods and for evidence of mineralized footwall structures in the deposit. This survey, which covered approximately 66% of the strike length of Mankarga 5, clearly identified the mineralized shear zone (Map 4). The 50 ppb Au contour proved to be particularly important in identifying the surface outline of individual mineralized structures as later defined through drilling and used in the NI43-101 Resource Estimate published in July 2012. Assuming a consistent relationship between mineralized structure and soil anomalies for the full length of the Mankarga 5 deposit, the area encompassed by the 50 ppb Au contour at Tanwaka is approximately twice the size of that at Mankarga 5. Roadmap to Discovery at Tanwaka "The Tanwaka soil grid has generated gold-in-soil anomalies that have a strength and a continuity that are very compelling," commented Colin McAleenan, Channel's President and CEO. "These soil anomalies align themselves very well with bedrock structures identified on our high-resolution magnetic gradient map with at least two mineralization settings suggested. With the benefit of the experience gained from our successful exploration programs at Mankarga 5 we believe that these structures at Tanwaka represent exciting drill targets and potential to add to the initial resource identified at Mankarga 5. Channel will immediately follow up on these successful results at Tanwaka by trenching segments of identified structures and outlining specific drill targets." For further information: Colin McAleenan, President & CEO Telephone: 604.684.7098 Cyrus Ameli, Senior VP Experienced personnel employed by Channel Resources Ltd. and its Burkina Faso subsidiary conducted the soil sampling activities described herein. Garmin GPS units pre-programmed with sample location UTM coordinates were used to locate sample points in the field. Two to three kilograms of sample material were systematically taken at a depth of 50 cm. No samples were taken in areas of transported material (dried river beds, artisanal spoil heaps etc.). Samples were bagged and returned to company facilities in Mogtedo where standards and sample duplicates were inserted. Samples were submitted for analysis at ACTLABS - Burkina Faso SARL and at Abilab Burkina SARL (ALS Laboratory Group) in Ouagadougou, Burkina Faso. The soil sampling program was supervised by John Adams P.Geo., a qualified person as defined by NI 43–101, who has reviewed the contents of the news release. Some of the statements contained herein are forward-looking statements involving known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the price of minerals, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, whether as a result of new information or future events or otherwise. Further disclosure on risk factors is available in the Company's various corporate filings at www.sedar.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Map Package (Tanlouka Target Zone Location Map. Click on the images for a larger version.) Map 3 Map 4 Images Artisanal Workings - Tanwaka Zone - Tanlouka Gold Project
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| The Day the World Ended – WW3 Simulation (Starring the “Silver Keiser” 4:10) Posted: 21 Nov 2012 01:47 PM PST
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| Gold Daily and Silver Weekly Charts Posted: 21 Nov 2012 01:43 PM PST |
| Dominic Frisby – Why Gold is the Currency of the Free Posted: 21 Nov 2012 01:00 PM PST In this video, Dominic Frisby delivers an insightful talk on the modern system of money and banking and how it has supplanted the centuries-old system of sound money based on commodities, specifically gold. Dominic Frisby – Why Gold is the Currency of the Free appeared in the Daily Reckoning. Subscribe to The Daily Reckoning by visiting signup for an Agora Financial newsletter.
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| Michael Berry: When Picking Mineral Stocks, It's Management, Management, Management Posted: 21 Nov 2012 12:55 PM PST The Gold Report: When you look at the PHLX Gold/Silver Index (XAU) between mid-May and mid-July, there's a perfectly beautiful double bottom. It looked like a big W. Since the beginning of October all commodities have broken down a bit, but that double bottom was so pronounced. Do you attach any significance to it? Michael Berry: George, when we used to see a "W" pattern we would say "WOW" and when we identified a double top "M" we would say "Mother"! There is a dominant secular quality-of-life cycle in the world, a very long-term cycle, so in the short run, we're going to have runs up and then declines. The Federal Reserve is going to continue to attempt to inflate and devalue the dollar value relative to other currencies and relative to gold and silver. And it is going to do it for the next three to five years, for however long it takes. Just take a look at Japan for a view of the future. My sense is that there's a very firm bottom on both gold and silver that has been identified by...
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| Posted: 21 Nov 2012 12:29 PM PST The steady rise in ETF holdings is encouraging as it relates to the long-term silver outlook. Despite significant gyrations in prices, holdings haven't fluctuated nearly as much, suggesting that investors that buy these products ... Read More...
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| Over 250 Gold Robberies in Stockton Since April: Police Taken By Surprise Posted: 21 Nov 2012 12:21 PM PST  Predators who have nothing left to lose are as equally interested in the asset. It's not only a portable store of value, but just about every American has some type of gold in their possession, be it in the form of a coin, wedding ring, or necklace. In Stockton, California, where skyrocketing crime has left over 60 people dead this year, police and city officials are being overrun with reports of gold chain robberies. Since April there have been over 250 such armed robberies, culminating in the September death of a man who just happened to be taking a casual stroll through a local park. As a result of rising crime in the city, residents are being more cautious, with many of them choosing to stay at home rather than risk being assaulted or murdered in a city that has seen its coffers bankrupted and its public workforce gutted. Almost everyone walking the park knows the story of Armando Pina — even two months after the deadly broad-daylight gold chain robbery that ended his life, parkgoers said. Read more.... 
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| The Fed Will Keep Printing Until the Dollar Gets Weaker: Jim Rickards Posted: 21 Nov 2012 12:11 PM PST 21-Nov (YahooFinance) — When it was released a year ago this month, James Rickards' Currency Wars: The Making of the Next Global Crisis was widely hailed and quickly adopted as a guidebook of sorts for economic conservatives, Fed critics and gold bugs — especially gold bugs given Rickards' support for a return to the gold standard. Since the book's release, the Federal Reserve has tripled-down on its policy of quantitative easing, effectively pledging to keep rates at zero indefinitely — or until the job market dramatically improves. Nevertheless, predictions of the dollar's demise have proven unwarranted, or certainly premature. Among other issues, concerns about Europe's debt crisis have driven global investors into the greenback, rather than fleeing from it as Rickards (among others) predicts. [source]
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| The Roadmap For $3,000+ Gold, $100+ Silver & 1,650 HUI Posted: 21 Nov 2012 12:06 PM PST  Today 54-year market veteran and analyst Ron Rosen sent King World News exclusively some outstanding charts and commentary for our global readers. This will give KWN readers an important snapshot of of the extraordinary roadmap he sees going forward for gold, silver and the HUI.
This posting includes an audio/video/photo media file: Download Now |
| Gold mostly higher in preholiday trade Posted: 21 Nov 2012 11:49 AM PST 21-Nov (MarketWatch) — Gold futures traded mostly higher Wednesday as traders weighed a report of higher gold purchases by emerging-market central banks, lingering concerns over Greece's bailout program and U.S. economic data issued before the Thanksgiving holiday. "Judging by the sideways action in the gold price, it looks like the big focus for U.S. traders is eating turkey," said Ben Traynor, chief economist at BullionVault. [source]
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| Indian government may offer bonds payable in gold Posted: 21 Nov 2012 11:47 AM PST Do they really think people will fall for such a promise rather than keep owning gold directly? * * * Government May Issue Gold Bonds By Mahua Venkatesh and Anupama Airy http://www.hindustantimes.com/business-news/WorldEconomy/Government-may-... You may soon have options to invest in new financial instruments that are linked to gold, such as a possible gold bond. With savings rates dropping from 35% about five years ago, the government, trying to boost savings and discourage hoarding of gold in physical form as a speculative activity, is planning to soon come out with attractive paper products including gold bonds, riding on India's craze for gold. Though the details are yet to emerge, experts say that in such instruments investors may be allowed to invest cash or offer gold against an assured minimum return. At the time of maturity investors are given the option of receiving gold or cash. The funds raised are likely to be used to build infrastructure projects. The government is expected to offer soverign guarantee to notified companies that can sell such bonds and back it up with hedging in global gold markets to assure minimum returns linked to the metal. ... Dispatch continues below ... 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 Top government sources told Hindustan Times that a gold instrument proposal was discussed at a recent high-level meeting on efforts to boost savings and investment rates in which the chairman of the Prime Minister's Economic Advisory Council (PMEAC), C. Rangarajan, and finance minister P. Chidambaram were present. "As the recent RBI data showed a declining trend of savings by Indian households including bank deposits, it was suggested in the meeting that in order to attract household savings, paper products that are linked to gold be developed," a finance ministry official said. Asked what would be the nature of these instruments, the official said, "We are still working out options. Gold bonds could be one of them." India has never issued gold bonds but banks have gold deposit schemes that have not been very successful. With gold prices soaring in the last couple of years, officials said there is a good chance that the new schemes would find takers unlike the past gold-linked schemes that were on offer that did not do well because investors preferred stocks that then offered higher returns. Now, with stock markets hit by high interest rates that lowered corporate earnings amid a global economic crisis, gold is treated as a safe haven. "Uncertainty in the stock market coupled with U.S. fiscal cliff fear would favour gold and schemes and instruments linked to gold are likely to succeed," said senior economist D.H. Pai Panadikar. However, a official in the Planning Commission said, "Breaking the trend of Indian households that are keen to hold gold in physical form to parking funds in instruments that are linked to gold will take time and may not happen immediately." India is the largest consumer of gold in the world and largest investor in gold -- mostly bought as coins, jewels, and bars. India and China account for nearly 50% of world demand for gold either as jewellery or investments. This year India imported gold worth $60 billion amid rising prices, while in 2011 it was worth $40 billion, putting pressure on the country's current account deficit that may in turn depreciate the rupee. Join GATA here: Vancouver Resource 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 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....
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| Andrew Maguire: Price suppression mechanics of GLD and SLV Posted: 21 Nov 2012 11:32 AM PST 1:24p ET Wednesday, November 21, 2012 Dear Friend of GATA and Gold (and Silver): In commentary posted at Turd Ferguson's Internet site, the TF Metals Report, London monetary metals trader and silver market rigging whistleblower Andrew Maguire explains how the gold and silver exchange-traded funds, GLD and SLV, are used by the major bullion banks for price suppression. The commentary is headlined "Price Suppression Mechanics of GLD and SLV" and it's posted at the TF Metals Report here: http://www.tfmetalsreport.com/blog/4327/guest-post-price-suppression-mec... 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: Vancouver Resource 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 Opinion Around the World Is Changing When Deutschebank calls gold "good money" and paper "bad money". ... http://www.gata.org/node/11765 When the president of the German central bank, the Bundesbank, pays tribute to gold as "a timeless classic". ... http://www.forbes.com/sites/ralphbenko/2012/09/24/signs-of-the-gold-stan... When a leading member of the policy committee of the People's Bank of China calls the gold standard "an excellent monetary system". ... http://www.forbes.com/sites/ralphbenko/2012/10/01/signs-of-the-gold-stan... When a CNN reporter writes in The China Post that the "gold commission" plank in the 2012 Republican platform will "reverberate around the world". ... http://www.thegoldstandardnow.org/key-blogs/1563-china-post-the-gop-gold... When the Subcommittee on Domestic Monetary Policy of the U.S. House of Representatives twice called on economist, historian, and gold standard advocate Lewis E. Lehrman to testify. ... World opinion is changing in favor of gold. How can you learn why and what it will mean to you? Read the newly updated and expanded edition of Lehrman's book, "The True Gold Standard." Financial journalist James Grant says of "The True Gold Standard": "If you have ever wondered how the world can get from here to there -- from the chaos of depreciating paper to a convertible currency worthy of our children and our grandchildren -- wonder no more. The answer, brilliantly expounded, is between these covers. America has long needed a modern Alexander Hamilton. In Lewis E. Lehrman she has finally found him." To buy a copy of "The True Gold Standard," please visit: http://www.thegoldstandardnow.com/publications/the-true-gold-standard
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| Posted: 21 Nov 2012 10:58 AM PST Gold Consolidates in Narrow Range
Activity in the gold market has also been constrained by persistent uncertainty on several fronts, which has prompted on-again/off-again risk appetite: Escalating tensions in the Gaza strip have been interspersed with cease fire rumors. Similarly, we have heard repeatedly that the troika and Greece are on the verge of an agreement that will free up the next aid tranche, only to see those hopes dashed. On Monday we heard that a tentative deal had been stuck and that would have cleared the way for Greece's next €44 bln, the details of which would be forthcoming the following day. Yet, here it is Wednesday; no details have been announced, and in fact, recent reports seem to suggest that a deal remains illusive. The troika has become quite masterful at managing market expectations, even as they continue to fail miserably at managing the crisis itself. Here in the U.S., we continue to hear warm, fuzzy talk of compromise on the 'fiscal cliff.' In reality though, the two parties don't really seem to be any closer to any kind of bipartisan agreement. The President called for an additional $1.6 trillion in tax revenue over the next decade in his opening gambit. That's likely far more than Republican's are willing to concede and in fact it's double what was on the table during the debt ceiling crisis of 2011. Perhaps that's reflective of how these crises become increasingly expensive with every kick of the can down the road. And yet, another kick of the can is the most likely outcome; buying a little more time without truly addressing the underlying issues that are driving all these crises. While all the uncertainty and mixed messages have kept gold narrowly confined this week, the underlying fundamentals of the market remain sound. Most notable are expectations that the central banks of the industrialized world will maintain their super-accommodative monetary policy stances for some time to come. Competitive currency debasements are likely to persist, amid the beggar thy neighbor efforts of governments to secure export share. This in turn will continue to drive investment in gold, both by individual investors and the central banks of emerging countries, seeking to hedge their exposure to devaluing fiat currencies. We at USAGOLD are thankful for all of our clients and friends. Happy Thanksgiving!
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| Got Gold? Central Banks Are Getting Large Quantities Posted: 21 Nov 2012 10:55 AM PST With investing, if you are not early you are late - Hal, long time friend and colleagueBrazil's Central Bank announced the purchase of over 17 tonnes of gold in October. Here's the commentary on this from UBS precious metals strategist Ed Tully: There may be a flutter of excitement in the market today with news that Brazil's official reserves of gold rose 17.2 tonnes in October, according to IMF statistics. This follows on from the 1.7 tonnes of buying in September and brings total Brazilian gold reserves to 52.52 tonnes. This is a chunky purchase by a central bank, and the gold market will likely sit up and pay attention to today's news, not just because of its size but because this is a central bank that has not been active in the market for some time. Gold struggled in October, and without this official sector buying the move below $1700 would likely have been much more severe than the short lived dips transpired to be. Today's news confirms much of the market chatter at the time that official sector buying was taking place and was one of the key factors that gave prices a reasonable floor last month.In fact, several non-Fed/BOE Central Banks increased their gold holdings by over 40 tonnes in October. We know that China, in addition to retaining 100% of the 25 tonnes per month it produces, has been importing bullion hand over fist. Gold and silver have been unusually resilient in the face of one of the more overt attempts by the U.S. bullion banks to trigger a COT open interest liquidation sell-off. For those of us who have been trading and researching the metals market for the past 11 years of the bull market, the attempted manipulation has never been more transparent, nor has the ability of the market to withstand this big bank flagrancy. Here's the Bloomberg report of the October Central Bank buying spree: LINK Without bloviating on the significance of this aggressive and rampant CB accumulation of bullion, please note that several countries besides Germany are now making noise about repatriating their gold being "safekept" by the Fed, BOE and Bank of France. Switzerland has proposed legislation being introduced in order to force the issue, The Ecuadorian Government has called on its banks to repatriate 1/3 of their foreign-held gold and the Netherlands is starting to make noise about doing the same. The name of the game is "accumulate physical - not paper (GLD, CEF, GTU, etc) and make sure you have trustworthy custodian." That would be either a private domestic depository or under lock and key in your own house, with Smith and Wesson are your guard dogs. 
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| Prepare For A Possible Price Spike In Gold And Silver Posted: 21 Nov 2012 10:44 AM PST The U.S. election results are in. The people have chosen. Subscribers are well aware of the changing rules of the game will conform to the latest economic developments. There may well be a period of negativity relating ... Read More...
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| Doug Casey on the America That Was – Now the United (Police) State of America Posted: 21 Nov 2012 10:35 AM PST Synopsis: Doug Casey provides compelling evidence that the US is no longer the land of the free. (Interviewed by Louis James, Editor, International Speculator) L: Doug, after conversations like the one we had last week, we often get letters from angry readers who accuse you of hating America, disloyalty, and perhaps even treason. These people don't know or understand what I do about you – that you love the idea that was America. It's the United State it has become for which you have nothing but contempt. Perhaps we should try to explain this to them? Doug: I doubt it would work; it's a tough row to hoe, trying to explain things to people who are so set in their thinking that they truly and literally don't want to hear anything that might threaten their notions. A person who feels threatened by ideas and who responds with emotion is acting irrationally. How can we have a discussion with someone whose emotion trumps their reason? How do we even begin to untangle the thinking of people who will gather this week to give thanks for the bounty produced by freedom and hard work – the famous puritan work ethic – by eating a turkey bought with food stamps? But we can outline the ideas, for the record. L: I'll bring a copy if they ever do put you on trial for thoughtcrime – which is frighteningly close to being real these days and called treason to boot. Doug: It's not just close; it's here. Just try telling an unapproved joke in a security line in an airport these days. L: True enough. Where to begin? Doug: At the beginning. America was founded as a confederation of independent countries – that's what a state is. Or was, in our language. The original United States of America was a confederation of countries that banded together for protection against larger and more powerful countries they feared might be hostile. This is not a disputed interpretation of history, but as solid a fact as the study of history produces – and yet a largely neglected one. L: We did cover this ground briefly in our conversations on the Civil War and the Constitution. Doug: So we did... the short version being that the US Constitution was essentially a coup; the delegates to what we now call the Constitutional Convention were not empowered to replace the existing government – only to improve upon the Articles of Confederation between the then-independent states. The framers of the Constitution drafted it with the notion of a national government already in place, but calmed fears of loss of state sovereignty by calling the new government the "United States of America" – a verbal sleight of hand that worked for over half a century. Then the southern states decided to exercise what these words imply; their right to leave the union. While slavery was and is a wholesale criminal activity I object to in every way possible, the southern states did have the right to secede, both legally and ethically. But the question was settled by force, not reason, and the wrong side won. L: Another coup? Doug: More like an exposure of the first one for the whole world to see. But by then it was way too late. Despite this, the relative freedom of the US – because it was for many years far freer than other countries – made it possible for artists, engineers, inventors, and businesspeople to flourish and create a society more wealthy and powerful than any the world had ever seen. This is what I call the idea of America – the America That Was. But the seeds of destruction were already sown at the very beginning – with the Alien and Sedition Acts being perhaps the first highly visible step in the wrong direction. Then came the forceful assertion of one national government, with states reduced to administrative regions via the War of Southern Secession, from 1861-'65. I'm no fan of state governments, incidentally, but at least they're smaller and closer to their subjects than the federal government. Another major step in the wrong direction occurred with the Spanish-American War of 1898, where the US acquired an overseas empire by force. The next major step downhill was the creation of the Federal Reserve and the income tax, both in 1913, just in time for World War I. It took time for these things to make the system crash, because it was still a fairly free economy. L: But crash it did in 1929… Doug: Yes. And it led to the Great Depression of 1929-'46, which lasted so long entirely because of the unmitigated disaster of the New Deal (which we discussed recently). The New Deal injected socialist-fascist ideas into mainstream American thought like a poisonous acid, corrupting the heart of the idea of America that once made the place great. The process was completed with Lyndon Johnson's Great Society, which really established the basis of the welfare-warfare state. It truly set the stage for the total ethical, economic, social, political, and even military disaster now unfolding before our eyes. Still, the beating heart of the idea of America – which is to say both social and economic freedom – took time to corrupt. Like a strong man who doesn't know he's headed for a heart attack, American culture didn't really peak until the 1950s. The bullet-finned 1959 Cadillac is a symbol of this peak, in my mind. L: Then we had Johnson and his "guns and butter" policy – War in Vietnam and War on Poverty at the same time – followed by tricky Dick kicking the last leg out of under the stool by taking the dollar off an even theoretical gold standard. Doug: Yes. Nixon was arguably even a worse President than Johnson, with the devaluation of the dollar in 1971 and his creation of the War on Drugs. Things have spiraled out of control since then. In The Casey Report, we've written reams about these last decades and how they led to and shaped what's happening now. But I have to say, the focus has been largely financial. L: Which is as it should be, in a publication designed to help investors navigate these turbulent times. Doug: Yes, but the corruption goes way beyond that, beyond even the senseless wars and idiotic foreign policy we discussed last week. America, once the land of the brave and the home of the free, is well on its way to becoming a police state – worse than any we've seen in the past, including the Soviet Union and Nazi Germany. L: How could it get worse than that? Doug: Because Big Brother has better technology now, allowing possible manipulation and control of the population that Stalin and Hitler never dreamed of. And because the US used to be such a great place, a lot of people have been tricked into believing it's the same as it was. But there's no more resemblance between the America of old and the US of today than there was between the Rome of the Republic and the Rome of the later emperors. Furthermore, most Americans have conflated the government with society. They're not only different things, but often antithetical. L: I thought you said you're an optimist! Doug: I am. But that's for the survivors who make it through the wringer the global economy – and every person on this planet – is about to go through. I keep telling you that the coming Greater Depression is going to be even worse than I think it is. You may think I'm joking, but I'm not. I do think that, primarily for reasons we discussed in our conversation on technology, what comes next will not only be even better than I imagine, it will be better than I can imagine… but first we have to go through the wringer. I see no way around it. I truly don't. L: Okay, I know you believe that. Can you substantiate the police-state claim? Doug: Well, rather than give you anecdotal evidence – of which there are masses more each day – let me refer to a rather perceptive blog post by a George Washington law professor named Jonathan Turley, titled 10 Reasons Why the US Is No Longer the Land of the Free. I'm sure I don't see everything the way the professor does, but the list struck me as quite accurate and very important for people to understand. L: I'm sure I don't want to hear this, but okay, shoot. Doug: [Chuckles] Maybe you don't, but I know you value the truth. These points underline something I've said for years: the Bill of Rights is a completely dead letter. It's essentially meaningless and rarely even gets the benefit of lip service. Quoting it will result in derision, if not arrest as a dangerous radical. Frankly, I didn't think the civil liberties situation could get worse than it was under Cheney-Bush, but it has. Obama has repealed none of what they did – and added more. So, let's go through the list. First: Assassination of U.S. citizens: "President Obama has claimed, as President George W. Bush did before him, the right to order the killing of any citizen considered a terrorist or an abettor of terrorism." Of course the very concept of terrorism is highly malleable, with over 100 definitions floating about – as we've discussed. But apart from that, it's now accepted that the president and his minions have the right to kill almost anyone. This conceit will get completely out of control after the next real or imagined major terrorist incident. L: This reminds me of the extraordinary powers given to government agents to battle the War On Some Drugs – like the RICO statutes – which have now been turned against ordinary citizens who have nothing to do with the drug trade. Doug: Exactly. Once you give the state a power – for whatever good reason you imagine it needs it – it will use that power for whatever those in charge feel is in their interests. And those in charge are never saints. Next: Indefinite detention: "Under the law signed last month, terrorism suspects are to be held by the military; the president also has the authority to indefinitely detain citizens accused of terrorism." This was a precedent set by Guantánamo, where scores of the accused continue to rot without even a kangaroo-court trial. Arbitrary justice: "The president now decides whether a person will receive a trial in the federal courts or in a military tribunal, a system that has been ridiculed around the world for lacking basic due process protections. Bush claimed this authority in 2001, and Obama has continued the practice." As the government becomes more powerful, it's completely predictable that everything – including the justice system – will become ever more politicized. And government very rarely relinquishes a power it's gained. I particularly like the Supreme Court ruling in April 2012 that allows anyone who's arrested for anything – including littering or jaywalking – to be strip-searched. L: Note to readers: you can't hear Doug's voice, but I assure you that his use of the word "like" is sarcastic. Doug: Just so. Moving right along: Warrantless searches: "The president may now order warrantless surveillance, including a new capability to force companies and organizations to turn over information on citizens' finances, communications and associations. Bush acquired this sweeping power under the Patriot Act in 2001, and in 2011, Obama extended the power, including searches of everything from business documents to library records." Privacy is now a completely dead concept, from both a legal and a practical point of view. If you want to retain privacy, you now have no alternative to relocating outside the US. L: Or any advanced Western country. I've read that there are more surveillance cameras per square mile in London than anywhere else. Doug: I've heard that too. The opposite being true in rural Argentina is one of the things I like about it. Back to the list: Secret evidence: "The government now routinely uses secret evidence to detain individuals and employs secret evidence in federal and military courts. It also forces the dismissal of cases against the United States by simply filing declarations that the cases would make the government reveal classified information that would harm national security…" "National security" essentially amounts to nothing more than government security, which amounts to cover for the individuals in the government. Nazi Germany and the USSR were national-security states. As I've tried to explain in the past, once a critical mass is reached, it's impossible to reform a government. I believe we've reached that state in the US. War crimes: "The world clamored for prosecutions of those responsible for waterboarding terrorism suspects during the Bush administration, but the Obama administration said in 2009 that it would not allow CIA employees to be investigated or prosecuted for such actions. This gutted not just treaty obligations but the Nuremberg principles of international law." Torture by field operatives under the stress of combat is one thing; torture as official policy is something else again. But torture is now accepted in the US. Worse, there are far more serious war crimes than torture being committed in the name of the US that are going unpunished. L: This is, after all, a far darker version of the same US government that deliberately infected black US citizens with syphilis just to see what would happen, and sent US citizens of Japanese descent to concentration camps during WWII. Doug: Exactly. The next point is: Secret court: "The government has increased its use of the secret Foreign Intelligence Surveillance Court, which has expanded its secret warrants to include individuals deemed to be aiding or abetting hostile foreign governments or organizations. In 2011, Obama renewed these powers, including allowing secret searches of individuals who are not part of an identifiable terrorist group." You no longer live in a free country when there's zero privacy for citizens, but 100% secrecy for the government and those it employs. Immunity from judicial review: "Like the Bush administration, the Obama administration has successfully pushed for immunity for companies that assist in warrantless surveillance of citizens, blocking the ability of citizens to challenge the violation of privacy." The government has outsourced some of its functions – not least the use of contractors in war zones. Increasingly, being associated with the government gives you a "get out of jail free" card. In the USSR they called this a "krisha" – a roof. Continual monitoring of citizens: "The Obama administration has successfully defended its claim that it can use GPS devices to monitor every move of targeted citizens without securing any court order or review." Bad as this is, it's just one example. There's also the use of domestic drones, and hundreds of thousands of cameras that take pictures of everyone everywhere. Extraordinary renditions: "The government now has the ability to transfer both citizens and noncitizens to another country under a system known as extraordinary rendition, which has been denounced as using other countries, such as Syria, Saudi Arabia, Egypt and Pakistan, to torture suspects." Yes, if someone is kidnapped, there's plausible deniability if the torturing is done abroad by a third party. And they're likely to have even fewer compunctions. L: That's a pretty depressing list, Doug. Doug: And this is just the beginning. As I've said before, I don't call the shots – just try to tell the truth as I see it. The point is that you couldn't assemble a list like this even 15 years ago. But now it's part of the firmament. Worse, it's going to grow. As the economy turns down over the next few years, the people – acting like scared chimpanzees – will ask the government to "do something." And it will. The trend is going hyperbolic. L: I can't argue… and I agree it is not likely to be stopped. So if this is a sure trend, are there investment implications? Doug: This just goes to reinforce what I've been saying for some time. As great as a US citizen's risk is in the marketplace these days, the greatest single risk to their wealth and health is the government. People simply must internationalize to diversify their political risk. I can't stress that strongly enough. L: Would you go so far as to say that being a taxpayer in the US now is like being a Jew in Germany in the mid-1930s? Doug: That's a good analogy. It's costly and upsetting to uproot, but the risk if you don't is unimaginably worse. And I would warn people in other countries to take the same precautions. All of these nation-states are dying dinosaurs that will cause a lot of damage as they thrash about in their death throes. No place is completely safe, but you improve your odds by not putting your eggs all in one basket. L: Okay, I guess we've covered that plenty of times. Is there a "police-state play" – any investments one could make before the new Iron Curtain slams down? Handcuff manufacturers? Doug: Nah – they have those plastic zip-binder things now; they're so cheap that I doubt the manufacturer can even make big money in volume. But I do remember a speech I attended in the '90s given by William Bennett, the ex-Drug Czar, who recommended investing in prisons. I excoriated him as a sociopath at that meeting – but he was right. However, that ship has sailed; it's hard to believe the US can incarcerate more than the current 2.3 million people. Besides, I find it morally offensive to capitalize what I consider to be criminal enterprises. No, for now the only absolutely crystal-clear imperative is as above: You've got t have a Plan B ready in case you need to get out of Dodge – and you need it pronto. And to those who will be celebrating Thanksgiving this week, I urge you to remind those you carve the turkey with that it was hard work and the freedom to profit from it that created the bounty the pilgrims celebrated. It was this enterprising spirit and the liberty to exercise it that was the heart of the idea of the America That Was – the idea that made America great. Those corrupt politicians who have been undermining these values for so long, and the willfully ignorant ideologues who support them, are responsible for turning this country into the United (Police) State of America. They should be criticized and opposed at every opportunity. L: Okay, Doug. Thanks for another challenging but enlightening conversation. Doug: My pleasure. On this day before the Thanksgiving holiday, we here at Casey Research want to thank you for being a loyal subscriber to Casey Daily Dispatch. People like you who support our work have enabled us to experience enviable growth (earlier this year, Inc. 5000 magazine – again – listed us among the fastest-growing private businesses in the US). Every year, thousands of investors from around the world grow right along with us by "crisis investing" – making calculated speculations designed to leverage calamities like the one Doug is warning about. At a time when most investors are struggling to make money, subscribers of our oldest and most reputable service are currently sitting on a number of triple-digit gains in select precious-metals companies. That service is Casey International Speculator, and on Friday – for one day only – we're offering 50% off a yearly subscription. As you're a loyal reader of the Casey Daily Dispatch, we're offering you a chance to claim your 50% off subscription before everyone else. Learn more about this offer and how Casey International Speculator can help you grow your portfolio. Thank you again for your continued support, and have a Happy Thanksgiving.
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| Who’s Afraid of a Fiscal Cliff Posted: 21 Nov 2012 10:07 AM PST We cast our gaze toward Thanksgiving Day tomorrow, thankful to see a majority of Americans — OK, a majority of people responding to a thoroughly unscientific Yahoo Finance poll — tuning out the "fiscal cliff"…
Golly, you could hardly tell if you immerse yourself in the financial media. "The nonstop fiscal cliff paranoia continues unabated," writes money manager and Vancouver fave Barry Ritholtz. "Apparently, it is the ONLY THING that matters to the markets. Every twist and turn in the negotiations is crucial to the future of the Republic." "It behooves investors to consider what else is driving equity markets," Mr. Ritholtz gently suggests. "I can think of at least five factors:
"The fiscal cliff amounts to about $600 billion in friction spread out over the course of 12 months," he says. "Fair estimates are that it will cost about 0.50% off of GDP, now estimated to be about 2.0% for the calendar year 2013. "I submit that these other factors weigh at least as much, if not more, in the market's current action." The major U.S. stock indexes are inching up this morning. The Dow has pushed above 12,800. For the few traders on duty today, factor 3) above is in view: Eurozone ministers failed to come to terms overnight on Greece's next bailout payment. "We discussed the issue very intensively, but since the questions are so complicated we didn't come to a final agreement," says German finance minister Wolfgang Schauble. Another meeting is scheduled Monday: EverBank's currency guru Chuck Butler isn't holding his breath. "After a period of somewhat calm, the risk fears are returning to the eurozone. And that will weigh heavily on the euro, just like it did earlier this year." The euro has retreated to $1.28. The dollar index sits at 80.9. Elsewhere first-time unemployment claims dropped (dramatically) to 410,000 from an upward-revised (dramatically) 451,000. Bloomberg, citing a Market News International report, says the Labor Department "has no handle on the magnitude or duration" of the effects from Hurricane Sandy. Sounds about right. Crude has firmed a bit to $87.51. Precious metals are in retreat, gold at $1,724, silver at $33 on the nose. "Probably nothing good will happen in the discussions surrounding the 'fiscal cliff' in January 2013," writes Nathan Lewis. Mr. Lewis, who oversees a private investment partnership and wrote Gold: The Once and Future Money (with a foreword by Addison), offers one of the few worthwhile fiscal cliff insights in a recent post at Forbes. "Federal spending is almost impossible to cut meaningfully," he writes, "because most of it is 'mandatory' entitlements. The remainder of federal government spending consists of other welfare programs (hard to reduce in the midst of persistent unemployment), defense (which Republicans won't want to cut unless they get some big cuts in welfare and entitlements), corporate subsidy and Big Bird. "The result is likely near-stasis on spending, and, despite Republicans' efforts to the contrary, some tax rate increases. This is the 'austerity' approach that is not working at all in Europe… "Deficits will likely continue and perhaps get even larger. The economy will deteriorate, while the rest of the world slips into its own recession." Enter the Federal Reserve, which in all likelihood will step up QEternity on Dec. 12, turning Operation Twist into full-on monetization of government debt. "Thus," Lewis writes, "the Federal Reserve would be buying $85 billion per month of Treasuries and MBS, financed with the printing press. That is $1,020 billion per year, not coincidentally about the expected amount of the Federal budget deficit… "Probably, this will end badly. Next year might be quite exciting." Who's Afraid of a Fiscal Cliff appeared in the Daily Reckoning. Subscribe to The Daily Reckoning by visiting signup for an Agora Financial newsletter.
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Gold's 12-yr rally, the longest in about 100 yrs decades is set to continue to rise in Y 2013 as central bank stimulus causes 
Just about everyone in the gold and money management communities, is aware that billionaire George Soros' hedge fund, Soros Fund Management LLC, is heavily invested in gold and gold mining equities. Additionally, in the past few days, a flurry of new articles have been written, detailing the Soros Fund's most 
The Reserve Bank today directed banks not to give loans for purchase of gold in any form, including primary gold, bullion and jewellery, to dissuade people from indulging in speculative activity.
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