Gold World News Flash

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• Terrible Technicals
• Owning Mining Shares Is Not the Same as Having a Position in Physical Gold and Silver
• MUST READ: Gold, Einstein And The Great Fed Robbery
• The Path to $10,000 an Ounce Gold, Revisited
• 6 Things To Ponder This Weekend
• A Funny Thing Happened In 2008
• GATA secretary interviewed by King World News on Fed's retreat
• The Gold Index Game
• Silver and Gold Prices Ended the Week Higher — Gold Price Closed at $1,332.50
• Silver and Gold Prices Ended the Week Higher — Gold Price Closed at $1,332.50
• This Week Was A Disaster And It Will Lead To More Tyranny
• Gold, Einstein And The Great Fed Robbery
• Dan Norcini About Today’s Gold & Silver Price Drop
• What?s the Indian Gov?t doing to Gold?
• Ted Butler: JP Morgan Holds 2 Corners In The Gold And Silver Market
• Australian bankers frosted by Fed, want their own dollar lower
• Von Greyerz, Barron expect increase in QE, not 'tapering'
• Gold Seeker Weekly Wrap-Up: Gold and Silver End Near Unchanged on the Week
• Gold Daily and Silver Weekly Charts - Triple Witching Hit on GLD and SLV, COMEX Next Week
• Gold Daily and Silver Weekly Charts - Triple Witching Hit on GLD and SLV, COMEX Next Week
• An Economic Collapse Of Biblical Proportions Is Coming. By Gregory Mannarino
• In The News Today
• Man Who Predicted No Fed Tapering Now Says To Expect Chaos
• COT Gold, Silver and US Dollar Index Report - September 20, 2013
• India to resume gold imports but rules mean no rush
• Terrible Technicals
• Gold Backed Money: The Choice of a Free Society
• E-Alchemy with the US Fed
• Special Offer: BU Denmark 20 Kroner & MS64 U.S. $20 Liberty Gold Coins
• All markets now depend on endless QE, Roberts tells KWN
• The Fed's Incredibly Reckless E-Money Printing
• The Fed's Incredibly Reckless E-Money Printing
• The Fed's Incredibly Reckless E-Money Printing
• Special Offer: BU Denmark 20 Kroner & MS64 $20 Liberty Gold Coins
• Fed Unleashes Gold
• 11.6 Billion and Counting: Voyager 1 Makes Interstellar History
• The Daily Market Report
• Market rigging whistleblower Ted Butler interviewed by Sprott Money News
• Former US Treasury Official - Terrifying US Collapse Ahead
• Forex Weekly Report 23-29 September, 2013
• Fed Unleashes Gold
• Fed Decision to Delay QE Tapering Unleashes Gold
• Gold and Silver and Being Long Gamma
• Gold and Silver Prices — Mapping Short Term Volatility
• India's Gold Bullion Imports to Restart "Immediately"
• India's Gold Bullion Imports to Restart "Immediately"
• Ron Paul Warns Prepare for the Destruction of the U.S. Dollar
• Ben Bernanke Is Just Stringing You Along – Gold Miners Weekly
• Recent Rally in Gold - A Sign of Strength?
• Recent Rally in Gold - A Sign of Strength?

Terrible Technicals Posted: 21 Sep 2013 12:00 AM PDT by John Rubino, Dollar Collapse: I have a theory about technical indicators, which is that most people only pay attention to the ones that that confirm what they already think. Technicals are primarily entertainment, in other words. But every once in a while a market's charts, graphs, and images line up in a persuasive way, and for U.S. stocks this looks like one of those times. A few examples: Margin debt This is a measure of how much money investors have borrowed against their stocks to buy new stocks. The more exciting their recent gains, the more willing they are to borrow. By definition, they're most excited when stocks have been going up for a long time (otherwise stocks would have stopped going up), so high margin debt tends to precede big corrections. Today, margin debt is just shy of 2007's all-time record. Read More @ DollarCollapse.com

Owning Mining Shares Is Not the Same as Having a Position in Physical Gold and Silver Posted: 20 Sep 2013 09:40 PM PDT by David Schectman, MilesFranklin.com: $100,000 in mining shares is not the same as having $100,000 in physical gold or silver. Owning mining shares are for profit, but the profit is the same as a profit made in Apple or Google stocks. At some point, you convert out of the stocks and into dollars. It makes no difference if the dollars came from SLV, TRX or any mining share or Apple; a dollar is a dollar, it's the same dollar. At what point will you sell your mining shares? Most likely when they have risen dramatically in price and the bull market is in full gear. If the bull market follows the model on the 1970s, the dollar will be "like a hot potato" and there will be a mad rush, globally, to dump dollars. Read More @ MilesFranklin.com

MUST READ: Gold, Einstein And The Great Fed Robbery Posted: 20 Sep 2013 09:02 PM PDT from Zero Hedge: One of Einstein’s great contributions to mankind was the theory of relativity, which is based on the fact that there is a real limit on the speed of light. Too bad that the bad guys on Wall Street who pulled off The Great Fed Robbery didn’t pay attention in science class. Because, as Nanex shows below, hard evidence, along with the speed of light, proves that someone got the Fed announcement news before everyone else. There is simply no way for Wall Street to squirm its way out of this one… Read More @ ZeroHedge.com

The Path to $10,000 an Ounce Gold, Revisited Posted: 20 Sep 2013 09:00 PM PDT by Dan Amoss, Daily Reckoning.com.au: The Federal Reserve's stock market wealth effect is getting stale. As investors contemplate the risks of the Fed losing control of long-term interest rates, stocks may start incorporating reality on the ground — not just Fed actions… This week, we saw the spectacle of the most anticipated Fed meeting in recent history. In the end, the decision (surprise, surprise) was made to continue the Fed's stimulus plan, to the tune of $85B a month. However, most traders, obsessed with the tiniest tweaks to the monthly rate of Fed printing, are missing the big picture: Credit growth has outpaced the economy's productive potential, both here and around the globe. Each successive growth spurt in money and credit has a weaker marginal impact on the real economy; this requires permanently easy monetary policy, and perhaps, eventually, a formal devaluation of paper against gold. Read More @ DailyReckoning.com.au

6 Things To Ponder This Weekend Posted: 20 Sep 2013 06:28 PM PDT Submitted by Lance Roberts of Street Talk Live blog, As we wrap up a most interesting, and volatile, week there are some things that I have discussed previously that are now brewing, interesting points to consider and risks to be aware of.  In this regard I thought I would share a few things that caught my attention as I look forward to wrapping up the week that was. 1) Angela Merkel Election No So Assured Some months ago in a missive entitled "Is The Eurozone Crisis Set To Flare Up?" I discussed the potential threat to the Eurozone being the dethroning of Angela Merkel by her opponents who are staunchly opposed to further bailouts for the weak Eurozone members and would prefer to see countries like Greece be expelled.  My friend Tyler Durden at Zero Hedge picked up on worry stating:  "On the back of our detailed discussion of the inner workings of the German election (here and here), it appears that we are no nearer understanding the two major political narratives that appear dominant currently. As Reuters reports, Angela Merkel's center-right coalition and Germany's combined opposition are running neck and neck, a poll showed on Tuesday, five days before the national election. Crucially, if the figures are repeated in Sunday's election, Merkel will lack the support to renew her coalition with the FDP and Germany will most likely end up with a 'grand coalition' of conservatives and SPD, like the one Merkel led in 2005-2009.   Via Reuters,   Chancellor Angela Merkel's center-right coalition and Germany's combined opposition are running neck and neck, a poll showed on Tuesday, five days before a national election that will decide who steers Europe's largest economy through the next four years.   The Forsa poll for Stern magazine showed Merkel's conservatives still well ahead of other parties on 39 percent, unchanged from the previous survey, and their current coalition partner, the liberal Free Democrats (FDP), were on 5 percent, down one point and only just enough to enter parliament.   The main opposition Social Democrats (SPD) and their Green allies were on 25 percent and 9 percent respectively, both unchanged from the previous Forsa poll, and the far-left Left had 10 percent. The SPD has ruled out a coalition with the Left.   If the figures are repeated in Sunday's election, Merkel will lack the support to renew her coalition with the FDP and Germany will most likely end up with a 'grand coalition' of conservatives and SPD, like the one Merkel led in 2005-2009." The worry, as I have stated previously, is that if Angela Merkel loses control of the Chancellorship it could well mean significant turmoil to an already very weak Eurozone situation.  Furthermore, since Germany is the primary funding source of the European Central Bank, a lack of financial support could well mean the end of the ECB and its Eurozone lifelines. 2) The Debt Ceiling Debate The Republican's on Friday passed a bill, 230-189, that would keep the government funded past the September 30th deadline but would also strip  funding for the Affordable Care Act.  If anyone has been paying attention the ACA represents a huge economic problem in 2014-2015 due to massive increases in the cost of healthcare for the middle class which has seen both incomes and net worth decline in recent years.  The problem is that the bill will be immediately rejected by the democratically controlled Senate.  This will kick the bill back to the House once again which is becoming increasing entangled in its own division within its rank and file.  The question then becomes whether, or not, the Republican controlled house will allow for a temporary government shutdown to promote a compromise on budgetary issues.  As we approach the deadline the markets could be roiled by the heated debates as the President threatens "default" if Congress doesn't act quickly to increase the debt limit.  As I stated in the recent missive "The Real Reason For No Fed Taper:" "The problem for the Federal Reserve currently is that they are once again facing an issue that nearly cratered the markets, and the economy, back in 2011.  As we quickly approach the limit of the government's borrowing capability the threat of a government shut down and "debt ceiling" debate once again looms.  Bernanke is currently fearful of such a repeat event given an already weak economy coupled with rising interest rates.  Any shutdown of the government, fear of "default" or restrictive fiscal policies could collapse what incremental recovery there has been to date." However, Ruth Marcus summed up the risks to the economy and the markets eloquently stating: "The chilling part is obvious. Having the government shut down, especially briefly, is stupid but survivable. (Economically, that is. The political ramifications are another matter.) We've been down this idiotic path before, and we may well be stumbling there again.   But leaving the government unable to borrow enough money to pay the debts it has already incurred is a different matter entirely. Breaching the debt ceiling evokes words like catastrophic and unthinkable, which is why it has never happened.   And why the notion that it might is so surprising. Astonishing, actually. Washington is used to government by crisis and deadline. Our creaky system is capable of rousing itself only when the train is bearing down the tracks.   So my usual way of analyzing these moments is to reason backward: The debt ceiling must be raised.   Therefore it will be. The situation will seem to be at an unbreakable stalemate until, suddenly, a solution appears. Everyone will breathe a sigh of relief -- until the inevitable next act in our political psychodrama. Panic, solve, repeat.   And this could well happen in the coming showdown. Let's hope so. But steady Washington hands worry that this time really could be different -- and, remember, even edging close to default is costly." 3) The "Taper" Indecision Is Back It certainly didn't take long for the markets to go from indecision, to decision, back to indecision on the Fed's future actions regarding its current bond buying program.  On Friday, Senior Federal Reserve Official James Bullard suggested that the current bond buying programs could begin being scaled back as early as October.  This would correspond with my views above on getting past a potential debacle in Washington over the debt ceiling debate.  However, what is particularly important about his speech was that he acknowledged that Fed policy has conventional monetary impacts.  "Financial market reaction to the June and September FOMC meetings provides sharp evidence that changes in the expected pace of asset purchases have conventional monetary policy effects.  Using the pace of purchases as the policy instrument is just as effective as normal monetary policy actions would be in normal times” The importance of this statement should not be dismissed.  The implication is that "tapering" is effectively the same as "tightening" monetary policy which would be a negative for the stock market in the short run. 4) In The "Economy Is Improving" Camp If the economy is indeed improving then why do officials continue to change the way we calculate the measures of the economy.  First, the Bureau of Economic Analysis changed the calculation of GDP to include pension deficit liabilities and intellectual property, such as research and development, which boosted GDP by roughly $500 billion in total.  Now, the European Union is changing the budget calculation to ease austerity.   From ABC News: "The nature of the change is very technical — changing the methodology of measuring the output gap between potential and structural growth — but it could have significant repercussions. The result is used to calculate the structural deficit figure — that is the deficit adjusted for the cyclical strength or weakness of the economy — upon which the European Commission bases its policy recommendations..." So, if your debt is increasing to the point that it becomes unlikely you can qualify for further bailouts and supports - change the way you measure it.  While you can mask problems in the short term through accounting gimmickry, and other shenanigans, eventually the issue will have to dealt with.  The problem is that by the time that point is reached it has historically been the catalyst for a crisis. 5) Syria Already Set To Miss A Deadline As I opined recently in "8-Risks That Remain": "1.-Syria: While there has been a tentative agreement between Syria, the U.S. and Russia, to destroy Syria’s arsenal of chemical weapons; the reality is that this is the same “dog and pony” show we witnessed with the WMD inspectors in Iraq.  Syria will agree to comply up front and then will subsequently move their weapons to other locations such as Iraq and Lebanon. They will only allow the U.N. inspectors to “see what they want them to see” and “compliance” will be nothing more than an act.  Of course, this is assuming the Syrian rebels will even let the inspectors into the country as they are highly offended by this agreement as they now feel the U.S. has abandoned them in their 2-year long crusade to oust the current leadership.  The reality is that in the next few months we will likely be once again talking about limited strikes in Syria as history is once again repeated." That certainly didn't take long as Syria, according to the LA Times, is already set to miss an initial deadline in the U.S.-Russia chemical arms deal. "The ambitious U.S.-Russian deal to eliminate Syria's chemical weapons, hailed as a diplomatic breakthrough just days ago, hit its first delay Wednesday with indications that the Syrian government will not submit an inventory of its toxic stockpiles and facilities to international inspectors by this weekend's deadline." It is likely that in the months ahead that the markets will once again be faced with turmoil in Syria.  This is particularly the case now that a third faction has now formed in region and is now exposing rifts between the FSA and Assad's forces in the region.  Islamic State in Iraq and Syria, or ISIS, recently drove the Free Syrian Army out of Azaz.  ISIS is primarily composed of Al Qaeda linked terrorists and hardline jihadists. According to a recent IHS Janes report: "The new study by IHS Jane's, a defence consultancy, estimates there are around 10,000 jihadists - who would include foreign fighters - fighting for powerful factions linked to al-Qaeda.  Another 30,000 to 35,000 are hardline Islamists who share much of the outlook of the jihadists, but are focused purely on the Syrian war rather than a wider international struggle.  There are also at least a further 30,000 moderates belonging to groups that have an Islamic character, meaning only a small minority of the rebels are linked to secular or purely nationalist groups.   The stark assessment, to be published later this week, accords with the view of Western diplomats estimate that less than one third of the opposition forces are "palatable" to Britain, while American envoys put the figure even lower. Fears that the rebellion against the Assad regime is being increasingly dominated by extremists has fuelled concerns in the West over supplying weaponry that will fall into hostile hands." With President Obama recently turning over the ban to provide arms to terrorist organizations the blow-back in the future could be significant leading to further turmoil for the financial markets.  This is particularly the case if you add in Lindsey Graham's recent proposal to gain authorization for a U.S. attack on Iran: "...We're going to put together a use-of-force resolution allowing our country to use military force as a last resort to stop the Iranian nuclear program, to make sure they get a clear signal that all this debacle about Syria doesn't mean we're confused about Iran." 6) Video Interview Of The Week This interview with Stanley Druckenmiller earlier this week is a must watch.   As per Zero Hedge: "Reflecting on exactly what was said yesterday, Duquesne's Stanley Druckenmiller is initially perplexed as Bernanke explained 'financial conditions' - not interest rates - have prompted the decision to forestall any taper. His confusion is that financial conditions are actually slightly better than they were in June and "a stock market at an all-time high would suggest we don't have a problem with financial conditions." While he dismisses surveys, the big-money was betting that they were going to taper as is clear from the moves in gold, bonds, and stocks; and it appears the Fed "lost their nerve." In fact, Druck continues, the Fed "blew it... they had a freebie," they could have started the process to "get us off the dope." This action, or inaction, he warns "is going to make it so much harder for the next Chairman to start the process." In fact, he concludes, that from beginning to end - once markets adjust from these subsidized prices - that the wealth effect of QE will have been negative not positive.   His discussion focuses on the transparency mistakes, the cornering they have managed, and the concerns he has over QE in general...   QE1 he supported as a crisis-fighting tool at the time - but from QE2 onwards and 5 years and he "doesn't think the academics at the Fed understand the unintended consequences of the exit."   At around 13:45 he also provides a clear explanation of the 'other side' of the Fed's expanding balance sheet - the average investor who is 'forced' to sell them the bonds and take on more risk... this has forced us to buy securities at subsidized prices and when they adjust, at whatever point in the future, they will adjust immediately and on no volume.   In fact, he concludes, that from beginning to end - once markets adjust - that the wealth effect of QE will have been negative not positive.   At 15:00, he explains how this is the biggest redistribution of wealth from the middle class and the poor to the rich ever - "who owns assets" he asks rhetorically... Druckenmiller begins at 8:03...   Complacency Not An Option While the recent Federal Reserve inaction is bullish for stocks in the short term there are p

A Funny Thing Happened In 2008 Posted: 20 Sep 2013 05:48 PM PDT Given Bullard's earlier comments on 'bubbles' being so obvious to spot in the prior two examples he noted, we thought the following chart was instructive. As Global Financial Data's Ralph Dillon notes, They often say that the past is a mirror of the future. This has rung true a few times in our markets' history and this chart demonstrates that precisely. Except for one thing... In looking at this chart you will see 3 distinct bubbles. Each one bigger than the previous one and each one has the same characteristics except for the last. In looking at the first during the early 1920's we saw a huge expansion in both equity prices and real estate followed by a huge collapse in 1932. During that depression, we saw equity prices and home prices all fall dramatically and converge at the price of gold in 1932. From the 1950's thru the 1970's, our economy made great economic progress. We became a global super power, innovation and technological advances flourished and we became the beacon of prosperity around the world. With that, equity and real estate prices once again expanded at a tremendous rate. In the early 1970's, with sky high interest rates and massive inflation, we saw yet another market bubble eviscerate. Ironically, all of these asset classes once again converged on gold in 1979. Only this time the bubble was larger from the 1929 bubble. The 80's were ushered in by Ronald Reagan and a new feeling of optimism spurred in much part by patriotism and great global economic expansion. From the early 80's to the present we have enjoyed much prosperity until 2008.   If the past is a reflection of the future, then shouldn't have equity prices, real estate prices and gold all have converged as they did in 1932 and 1979 in 2008 or 2009?  In looking at the chart, it's clear that they began that convergence once again but something different happened. The FED started pumping massive amounts of liquidity into the system. Something they have never done before at this level and certainly, never seen in our history. I would speculate that if the FED did not intervene, then we may have seen all of these asset levels converge at around the 256 level and we may have had a normal reset. But instead, what we got was a complete reversal in all of these asset prices. Today we sit at historic highs in the equity markets and home prices are just off a time high. Gold on the other hand has taken a sharp decline and I can only speculate that if the pumping continues, we will only see this bubble inflate even more. All of these asset classes are being artificially inflated to levels never seen before. What happens when it stops? And how does the FED exit? I hope we will not be Yellen and screaming when it pops...   Source: Global Financial Data

GATA secretary interviewed by King World News on Fed's retreat Posted: 20 Sep 2013 05:22 PM PDT 8:20p Friday, September 20, 2013 Dear Friend of GATA and Gold: Interviewed today by King World News, your secretary/treasurer remarked that the Federal Reserve's retreat from its plans to reduce bond purchases probably foreshadows more "financial represssion" to prevent markets from happening and that preventing markets from happening has become the main objective of central banking. An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/20_Th... CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. ADVERTISEMENT Don't Let Cyprus Happen to You Depositors at the Bank of Cyprus lost 47.5 percent of their savings. So to preserve your wealth, get some of it outside the banking system into physical gold and silver. Worldwide Precious Metals (Canada) Ltd., established in 2001, specializes in physical gold, silver, platinum, and palladium. We offer delivery or secure and fully insured storage outside the banking system in Brinks vaults. We have access to gold and silver from trusted worldwide refineries and suppliers. And when you have an account with us you have immediate access to it for buying and selling your stored bullion. For information on owning physical precious metals in your portfolio, visit us at: www.wwpmc.com. Join GATA here: Gold Investment Symposium 2013 Luna Park Conference Center, Sydney, Australia Wednesday-Thursday, October 16-17, 2013 http://gold.symposium.net.au/ Mines and Money Australia Melbourne Conference and Exhibition Centre Tuesday, October 29-Friday, November 1, 2013 http://www.minesandmoney.com/ New Orleans Investment Conference Sunday-Wednesday, November 10-13, 2013 Hilton New Orleans Riverside Hotel New Orleans, Louisiana https://jeffersoncompanies.com/landing/speakers?IDPromotion=613011610080... * * * 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: http://gata.org/tshirts 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: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16

The Gold Index Game Posted: 20 Sep 2013 05:09 PM PDT Dear CIGAs, The industry indices of the exchanges are decided upon by a committee of the exchange made up of members of that exchange. The proceedings of their discussions which impacts huge trading is sealed under secrecy in Canada. Secrecy that is from anyone but the members who are also members of the exchange. In... Read more » The post The Gold Index Game appeared first on Jim Sinclair's Mineset.

Silver and Gold Prices Ended the Week Higher — Gold Price Closed at $1,332.50 Posted: 20 Sep 2013 04:37 PM PDT Gold Price Close Today : 1,332.50 Gold Price Close 13-Sep-13 : 1,308.40 Change : 24.10 or 1.8% Silver Price Close Today : 21.876 Silver Price Close 13-Sep-13 : 21.67 Change : 0.206 or 1.0% Gold Silver Ratio Today : 60.912 Gold Silver Ratio 13-Sep-13 : 60.378 Change : 0.53 or 0.9% Silver Gold Ratio : 0.01642 Silver Gold Ratio 13-Sep-13 : 0.01656 Change : -0.00014 or -0.9% Dow in Gold Dollars : $ 239.70 Dow in Gold Dollars 13-Sep-13 : $ 242.93 Change : -$3.23 or -1.3% Dow in Gold Ounces : 11.596 Dow in Gold Ounces 13-Sep-13 : 11.752 Change : -0.16 or -1.3% Dow in Silver Ounces : 706.30 Dow in Silver Ounces 13-Sep-13 : 709.56 Change : -3.25 or -0.5% Dow Industrial : 15,451.09 Dow Industrial 13-Sep-13 : 15,376.06 Change : 75.03 or 0.5% S&P 500 : 1,709.91 S&P 500 13-Sep-13 : 1,687.99 Change : 21.92 or 1.3% US Dollar Index : 80.454 US Dollar Index 13-Sep-13 : 81.470 Change : -1.016 or -1.2% Platinum Price Close Today : 1,432.10 Platinum Price Close 13-Sep-13 : 1,443.60 Change : -11.50 or -0.8% Palladium Price Close Today : 720.30 Palladium Price Close 13-Sep-13 : 697.50 Change : 22.80 or 3.3% For a week that wore so hard on the nerves and posted such big jumps Wednesday, it showed little difference in the end. For the week silver and GOLD PRICES, which starved my ego today and fed my humility, in fact ended higher by 1% and 1.8%. Yes, higher. Stocks rose, but the Dow rose only one-half percent and the S&P500 1.3%. The white metals, platinum and palladium, gainsaid each other, platinum lower and palladium higher. Biggest loser was the dollar index, where a 1.2% loss is a big move, and punctured long established support. Silver and GOLD PRICES acted just like the stock market today, giving up most of the gains from Wednesday. Silver gained 8% yesterday, and gave up 5.9% or 136.6 cents today to close Comex at 2187.6 cents. Gold gained 4.7% yesterday, and lost 2.7% today, or $36.90 closing at $1,332.50. I am tempted to say gold's failure to hold above $1,350 support dooms it to a large fall. That was terrible behavior. Then I look at the chart. Last low hit $1,291.50. Support lies at $1,325 and just above $1,300. I stared longer. Last three days might mark the beginning of a long down leg that runs to $1,240 or even lower. But then again, it might be only the bottom of the first leg up in a new upleg. The former is more likely, but the latter is possible. MACD and RSI are neutral. The gold price also stands below its 50 DMA ($1,342.56), another negative. The SILVER PRICE, on the other hand, at 2187.6c stands above its 2170c 50 DMA. If I were silver and filling out an upside down head and shoulders, I'd do exactly what silver has done. But if silver closes below the last low at 2126, that formation will be ruled out. In the end, both silver and gold prices stand at the same crossroads. If the gold price falls through $1,291.50 and the silver price through 2125c, they will drop toward $1,240 and 1900c. If they break not those marks, they will turn and climb. Come to think of it, the present debt ceiling war between Bernard O'Bama and the Lilliputian congress might provide enough hot air to draft gold up. First two days of next week are critical. If silver and gold prices hold, they'll rally. If not, they could decline into an October low. How'd y'all like that taste of Federal Reserve stability this week? Right, the Fed stabilizes like a tornado. Wednesday the markets that supposedly thrive on a weak dollar soared on the FOMC's announcement they would not be tapering any time soon, say, before the 21st century ends. Think of it this way: yesterday Ben Bernanke sent a personal note to you, me, and everybody in the US reading, "We are going to keep on creating money -- lots of money." Wherefore, burn this bottom line into your brain: gold and silver will rise. After this indecision ends, probably by the time October expires, gold and silver will begin a rally that will reach far higher, and move faster, than anything you've seen so far. You have Ben Bernanke's word on it. Stocks stumbled badly today. Dow lost 185.44 (1.19%) to 15,451.09 while the S&P500 gave up 12.43 (0.72%) to 1,709.91. This leaves a really stinking Big Bird footprint on the chart: bit jump Wednesday, little toe of a fall yesterday, big fall today taking them below where they started. Feels very toppy and sets up stocks for visit to 50 day moving averages (15,305 and 1679). After yesterday's sharp fall, the Dow in Gold and Dow in Silver rose a bit today, but remain firmly in a downtrend from the June Highs. Odd -- the Dow in gold is above its 50 DMA (11.42 oz) but the Dow in Silver remains below its 50 DMA (710.57 oz). Dow in gold today rose 1.5% to 11.596 oz (G$239.70 gold dollars). Gaining 5%, the Dow in silver added 33.36 oz to end at 706.30. US Dollar Index gained 11.1 basis points (0.14%) today but did nothing to prettify its hair-raising chart. Wednesday's fall dragged the dollar index under water. It punctured support that had held since May 2011. Dollar index has a chance of catching at 79.50, but beneath that it will fly like an anvil pushed out of a 747 Jumbo Jet. Wednesday the euro punched through resistance stretching back to February of this year, poked its head around, and fell back to that line. Today the euro lost a piddling 0.08% to end at $1.3523. Should the euro not fall back through that resistance, 'twill point toward $1.3700. Japanese yen keeps trading sideways, carefully managed, I reckon, by the Japanese Nice Government Men. Gained 0.14% today to 100.68 cents/Y100. Y'all enjoy your weekend! 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 © 2013, 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.

Silver and Gold Prices Ended the Week Higher — Gold Price Closed at $1,332.50 Posted: 20 Sep 2013 04:37 PM PDT Gold Price Close Today : 1,332.50 Gold Price Close 13-Sep-13 : 1,308.40 Change : 24.10 or 1.8% Silver Price Close Today : 21.876 Silver Price Close 13-Sep-13 : 21.67 Change : 0.206 or 1.0% Gold Silver Ratio Today : 60.912 Gold Silver Ratio 13-Sep-13 : 60.378 Change : 0.53 or 0.9% Silver Gold Ratio : 0.01642 Silver Gold Ratio 13-Sep-13 : 0.01656 Change : -0.00014 or -0.9% Dow in Gold Dollars : $ 239.70 Dow in Gold Dollars 13-Sep-13 : $ 242.93 Change : -$3.23 or -1.3% Dow in Gold Ounces : 11.596 Dow in Gold Ounces 13-Sep-13 : 11.752 Change : -0.16 or -1.3% Dow in Silver Ounces : 706.30 Dow in Silver Ounces 13-Sep-13 : 709.56 Change : -3.25 or -0.5% Dow Industrial : 15,451.09 Dow Industrial 13-Sep-13 : 15,376.06 Change : 75.03 or 0.5% S&P 500 : 1,709.91 S&P 500 13-Sep-13 : 1,687.99 Change : 21.92 or 1.3% US Dollar Index : 80.454 US Dollar Index 13-Sep-13 : 81.470 Change : -1.016 or -1.2% Platinum Price Close Today : 1,432.10 Platinum Price Close 13-Sep-13 : 1,443.60 Change : -11.50 or -0.8% Palladium Price Close Today : 720.30 Palladium Price Close 13-Sep-13 : 697.50 Change : 22.80 or 3.3% For a week that wore so hard on the nerves and posted such big jumps Wednesday, it showed little difference in the end. For the week silver and GOLD PRICES, which starved my ego today and fed my humility, in fact ended higher by 1% and 1.8%. Yes, higher. Stocks rose, but the Dow rose only one-half percent and the S&P500 1.3%. The white metals, platinum and palladium, gainsaid each other, platinum lower and palladium higher. Biggest loser was the dollar index, where a 1.2% loss is a big move, and punctured long established support. Silver and GOLD PRICES acted just like the stock market today, giving up most of the gains from Wednesday. Silver gained 8% yesterday, and gave up 5.9% or 136.6 cents today to close Comex at 2187.6 cents. Gold gained 4.7% yesterday, and lost 2.7% today, or $36.90 closing at $1,332.50. I am tempted to say gold's failure to hold above $1,350 support dooms it to a large fall. That was terrible behavior. Then I look at the chart. Last low hit $1,291.50. Support lies at $1,325 and just above $1,300. I stared longer. Last three days might mark the beginning of a long down leg that runs to $1,240 or even lower. But then again, it might be only the bottom of the first leg up in a new upleg. The former is more likely, but the latter is possible. MACD and RSI are neutral. The gold price also stands below its 50 DMA ($1,342.56), another negative. The SILVER PRICE, on the other hand, at 2187.6c stands above its 2170c 50 DMA. If I were silver and filling out an upside down head and shoulders, I'd do exactly what silver has done. But if silver closes below the last low at 2126, that formation will be ruled out. In the end, both silver and gold prices stand at the same crossroads. If the gold price falls through $1,291.50 and the silver price through 2125c, they will drop toward $1,240 and 1900c. If they break not those marks, they will turn and climb. Come to think of it, the present debt ceiling war between Bernard O'Bama and the Lilliputian congress might provide enough hot air to draft gold up. First two days of next week are critical. If silver and gold prices hold, they'll rally. If not, they could decline into an October low. How'd y'all like that taste of Federal Reserve stability this week? Right, the Fed stabilizes like a tornado. Wednesday the markets that supposedly thrive on a weak dollar soared on the FOMC's announcement they would not be tapering any time soon, say, before the 21st century ends. Think of it this way: yesterday Ben Bernanke sent a personal note to you, me, and everybody in the US reading, "We are going to keep on creating money -- lots of money." Wherefore, burn this bottom line into your brain: gold and silver will rise. After this indecision ends, probably by the time October expires, gold and silver will begin a rally that will reach far higher, and move faster, than anything you've seen so far. You have Ben Bernanke's word on it. Stocks stumbled badly today. Dow lost 185.44 (1.19%) to 15,451.09 while the S&P500 gave up 12.43 (0.72%) to 1,709.91. This leaves a really stinking Big Bird footprint on the chart: bit jump Wednesday, little toe of a fall yesterday, big fall today taking them below where they started. Feels very toppy and sets up stocks for visit to 50 day moving averages (15,305 and 1679). After yesterday's sharp fall, the Dow in Gold and Dow in Silver rose a bit today, but remain firmly in a downtrend from the June Highs. Odd -- the Dow in gold is above its 50 DMA (11.42 oz) but the Dow in Silver remains below its 50 DMA (710.57 oz). Dow in gold today rose 1.5% to 11.596 oz (G$239.70 gold dollars). Gaining 5%, the Dow in silver added 33.36 oz to end at 706.30. US Dollar Index gained 11.1 basis points (0.14%) today but did nothing to prettify its hair-raising chart. Wednesday's fall dragged the dollar index under water. It punctured support that had held since May 2011. Dollar index has a chance of catching at 79.50, but beneath that it will fly like an anvil pushed out of a 747 Jumbo Jet. Wednesday the euro punched through resistance stretching back to February of this year, poked its head around, and fell back to that line. Today the euro lost a piddling 0.08% to end at $1.3523. Should the euro not fall back through that resistance, 'twill point toward $1.3700. Japanese yen keeps trading sideways, carefully managed, I reckon, by the Japanese Nice Government Men. Gained 0.14% today to 100.68 cents/Y100. Y'all enjoy your weekend! 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 © 2013, 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.

This Week Was A Disaster And It Will Lead To More Tyranny Posted: 20 Sep 2013 04:06 PM PDT In the aftermath of more incredibly turbulent trading this week, today King World News spoke to the man who has been focused on uncovering sensitive government and market information for over 15 years. What he had to say will fascinate KWN readers around the world. Chris Powell covered everything from secret government agreements, to market manipulation, gold, and a coming new financial system. Below is what Powell had to say. This posting includes an audio/video/photo media file: Download Now

Gold, Einstein And The Great Fed Robbery Posted: 20 Sep 2013 03:42 PM PDT Via Nanex, One of Einstein's great contributions to mankind was the theory of relativity, which is based on the fact that there is a real limit on the speed of light. Information doesn't travel instantly, it is limited by the speed of light, which in a perfect setting is 186 miles (300km) per millisecond. This has been proven in countless scientific experiments over nearly a century of time. Light, or anything else, has never been found to go faster than 186 miles per millisecond. It is simply impossible to transmit information faster. Too bad that the bad guys on Wall Street who pulled off The Great Fed Robbery didn't pay attention in science class. Because hard evidence, along with the speed of light, proves that someone got the Fed announcement news before everyone else. There is simply no way for Wall Street to squirm its way out of this one. Before 2pm, the Fed news was given to a group of reporters under embargo - which means in a secured lock-up room. This is done so reporters have time to write their stories and publish when the Fed releases its statement at 2pm. The lock-up room is in Washington DC. Stocks are traded in New York (New Jersey really), and many financial futures are traded in Chicago. The distances between these 3 cities and the speed of light is key to proving the theft of public information (early, tradeable access to Fed news). We've learned that the speed of light (information), takes 1 millisecond to travel 186 miles (300km). Therefore, the amount of time it takes to transmit information between two points is limited by distance and how fast computers can encode and decode the information on both sides. Our experience analyzing the impact of hundreds of news events at the millisecond level tells us that it takes at least 5 milliseconds for information to travel between Chicago and New York. Even though Chicago is closer to Washington DC than New York, the path between the two cities is not straight or optimized: so it takes information a bit longer, about 7 milliseconds, to travel between Chicago and Washington. It takes little under 2 milliseconds between Washington and New York. Therefore, when the information was officially released in Washington, New York should see it 2 milliseconds later, and Chicago should see it 7 milliseconds later. Which means we should see a reaction in stocks (which trade in New York) about 5 milliseconds before a reaction in financial futures (which trade in Chicago). And this is in fact what we normally see when news is released from Washington. However, upon close analysis of millisecond time-stamps of trades in stocks and futures (and options, and futures options, and anything else publicly traded), we find that activity in stocks and futures exploded in the same millisecond. This is a physical impossibility. Also, the reaction was within 1 millisecond, meaning it couldn't have reached Chicago (or New York): another physical possibility. Then there is the case that the information on the Fed Website was not readily understandable for a machine - less than a thousandth of a second is not enough time for someone to commit well over a billion dollars that effectively bought all stocks, futures and options.   The Data Minutes before the Fed announcement at 14:00 on September 18, 2013, there was significant activity in Comex Gold Futures (traded in Chicago) and the ETF symbol GLD (traded in New Jersey). This gives us an opportunity to measure closely, the exact (to the millisecond) amount of time between trading between these two instruments. The first two charts show about 3.5 minutes of time around the Fed Announcement release, giving us an overview. The stack of charts that follow allow you to easily compare between GLD (New York) and GC Futures (Chicago) for 6 different active periods. You will see that in the first 5 pairs - before the announcement, activity first shows up in GC Futures, followed by activity in GLD between 5 and 7 milliseconds later. In the last pair, which compares activity at exactly 14:00:00.000, you will see both GC futures and GLD react exactly at the same time. See also: More Charts of Evidence. 1. Animation of December 2013 Gold (GC) Futures followed by GLD stock on September 18, 2013 from 13:57 to 14:00:30. 2. Zooming in 150 milliseconds of time for the high activity periods minutes before and during the annoucement. The chart shows first, Gold Futures (GC - traded in Chicago) followed by GLD (traded in New York)and clearly show events minutes before the news release: you can clearly see that Gold Futures (GC) trades before GLD. The chart shows the event at 14:00:00, where Gold Futures trades at the exact same time as GLD stock. This is physically impossible unless information was already present in Chicago and New York. It's easiest if you compare the bottom panels of each chart which shows trading volume for each millisecond.    Conclusion There are 2 possibilities, and both aren't good news for Wall Street. 1. Released by a News Organization The Fed news was condensed by a news service into a simple "No Tapering" message that was placed on news servers co-located next to trading machines in both New York and Chicago at some time before 2pm. The news machines are programmed to release the information at precisely 2pm, allowing the algos to react immediately at both locations. This is how some news services release privately compiled statistics like the Consumer Confidence or Chicago PMI. In those cases, we see the exact behavior as in the last 2 charts above - an immediate reaction in New York and Chicgo. But the Fed news was released from a lock-up room which prevents transmission of any information to the outside world. Given that several large news organizations were recently caught doing this we think it's less likely they would do something so bold, so soon. That leaves us with possibility number 2. 2. Leaked to Wall Street The Fed news was leaked to, or known by, a large Wall Street Firm who made the decision to pre-program their trading machines in both New York and Chicago and wait until precisely 2pm when they would buy everything available. It is somewhat fascinating that they tried to be "honest" by waiting until 2pm, but not a thousandth of a second longer. What makes this a more likely explanation is this: we've found that news organizations providing timed release services aren't so good about synchronizing their master clock - and often release plus or minus 15 milliseconds from actual time. Their news machines in New York and Chicago still release the data at the exact same millisecond, but with the same drift in time as the master clock. That is, we'll see an immediate market reaction at say, 15 milliseconds before the official scheduled time, but in the same millisecond of time in both New York and Chicago. Historically, these news services have shown a time drift of about 30 milliseconds (+/- 15ms), which places the odds that this event was from a timed news service at about 10%. What also makes this the more likely conclusion is this: we know the Bureau of Labor Statistics has recently hardened access to their lock-up room, weeding out all but respected news organizations. So imagine a reporter for one of these news organizations who is tasked with distilling the Fed news into a simple message that machines could read in less than a millisecond and interpret to mean, "buy all the things now".; It's unlikely that Wall Street would place so much responsibility on one news reporter. It is also unlikely that respected news organizations would tolerate this behavior. We think it was leaked. The evidence is overwhelming.

Dan Norcini About Today’s Gold & Silver Price Drop Posted: 20 Sep 2013 02:59 PM PDT Gold has now surrendered half of the gains that it put on as a result of Wednesday’s FOMC announcement that the TAPERING was on hold. It is currently trading at 1337 as I type these comments. While the US equity markets are a bit weaker, the S&P 500 is still sitting firmly above the 1700 level. Interest rates on the Ten Year are near 2.75% while the grain markets are imploding lower and crude oil continues to drop off its best post-FOMC announcement levels. In short, we are pretty much back to where we were prior to the FOMC. Why do I say this? Simple – this morning Fed governor Bullard managed to do what many in the Fed have been doing since May of this year, namely, jawboning the markets and setting them up for another possibility of tapering later this year. What has it been, 2 days since we got that FOMC press release and here we already are talking about starting the Tapering once again. Good grief! This is like some sort of sick version of the movie “GroundHog Day”. It seems as if these people simply cannot restrain themselves from yakking away whenever a microphone is present. I do not know about some of you, but I get the distinct impression from watching these events unfold that the Fed literally has no earthly idea what to do next. They would like to start reducing the amount of bond buying but understand that they cannot, given the current economic conditions. So they talk about it perhaps to comfort themselves or even persuade themselves, that they really are being responsible stewards of the nation’s monetary policies and are aware of the inherent dangers in a near-endless barrage of money printing. The truth is that the Fed is trapped in a net of their own making and I think some of these governors realize it. Maybe some of them are making speeches as a sort of CYA strategy just in case history is not kind to them. They can point to their various speeches and say: ” Hey I was out there making a case for ending this QE stuff. Don’t blame me!” As I have written repeatedly this week, these QE programs have managed to take on near immortality simply because the job market in this nation is so pathetic that many consumers simply do not have the confidence or financial wherewithal to taken on new and large loads of debt. Velocity of Money keeps moving lower, not higher and thus the driving force needed to generate strong, upward price pressures in the economy is not there. With wages flat and many working at part time jobs, where is the force going to come from to propel economic activity in this nation strongly higher? IN a debt based system, more and more, larger and larger, amounts of debt have to be taken on for the economy to grow. It is difficult to do that if consumers are afraid to spend with the same reckless abandon as they did during the boom years. Remember when re-financing was the coolest trick in town – turn your house into a giant ATM machine and use the savings from the lower rates to go and buy that new ATV or Jet-ski? Those days are long gone so if the consumer cannot tap their home equity and wages are going nowhere, where is the cash going to come from? Maybe the Fed should just skip this nonsense about buying MBS’s and Treasuries and just send checks to every tax paying household in the US to the tune of $85 billion each and every month? I don’t know about you, but I think this money would get directly injected into the economy a helluva lot faster than it does by sitting in the reserves of the big banks or in the equity markets.I guarantee you that if I were to receive a nice, big, fat check from the Fed each and every month, I would have my ATV upgraded to a woodgrain dash and chrome wheels. Heck I would buy a new Polaris RZR just for fun! A nice COBALT boat would somehow find its way into my establishment also! Obviously I am being facetious here but I think my point is made – most of this new money being created by the Fed is not moving into the system. What ails this nation cannot be fixed by Fed action only; it requires STRUCTURAL REFORMS, and we are not going to get that while the current administration remains in office. It really is that simple. At this point in time, seeing that inflation is not a serious concern of most market participants, it is going to take an issue dealing with CONFIDENCE to take gold sharply higher into a sustained uptrend. Remember gold is an asset that pays no interest; therefore it must appreciate in value if it is to be of any benefit to those who buy it as an investment. That means we must have all of the elements in place that are required to drive the price of gold higher. First and foremost among those is CONFIDENCE, especially in the currency of a nation. A loss of confidence in a nation’s currency results in rising prices as the currency’s loss of value is reflected in that area first. This is why I keep coming back to the commodity complex as a whole… we must see a broad-based upward move in the commodity complex before gold will find strong, SUSTAINED, new speculative inflows. Currently we are not getting that. (original source: Dan Norcini’s personal blog)

What?s the Indian Gov?t doing to Gold? Posted: 20 Sep 2013 02:59 PM PDT Gold Forecaster

Ted Butler: JP Morgan Holds 2 Corners In The Gold And Silver Market Posted: 20 Sep 2013 02:53 PM PDT In this interview with SprottMoney, Ted Butler comments on the latest evolutions in the gold and silver market. In particular, the conversation is focused on the current concentrated positions of JP Morgan and its evolution on price. Mr. Butler is convinced the manipulation is there but he is also sure that it will end sooner or later with a huge upside impact on the prices. Ted Butler explains how JP Morgan started out this year massively short in gold and silver. Their position was around 75,000 contracts net short in gold and 35,000 contracts net short in silver. The whole reason behind the decline in the first half of the year was JP Morgan rigging prices through their monopoly in the COMEX to the point that prices came down and they were able to buy back many of their short positions in silver and all of their short positions in gold. The company made about 3 billion dollars on closing out these shorts. In gold, they went long till they reached 85,000 contracts long in gold. In the August rally they made another 350 million dollar of profits. JP Morgan was not able to get long in the silver market however. Right now they are sitting on a monopoly on the long side of the gold market and a concentration on the COMEX silver market. - Ted Butler on JP Morgan’s incentive to corner the gold market to the long side. This is a for profit organization. Their main motive is to make money. The problem is that they basically created a monopoly (a corner) on the COMEX gold and silver market. They are making their profits on an illegal basis. Companies are not allowed to do this. - The likelihood that JP Morgan was behind the sharp sell offs in price? The big declines of recently (including the one of today, Friday September 20th) is nothing more than JP Morgan buying back their 30,000 contracts in gold they recently sold. The only reason we ever go down in price in gold and silver is so that the commercials, but mainly JP Morgan, can buy contracts. And the only reason they buy them is to make money, and the way they make money is they will eventually sell it. So they're going to move this position eventually. This is why prices go up and down. - What to think about the fact there is not any response on his allegations? I am sending every newsletter to Jamie Dimon (CEO of JP Morgan), the Board of Directors of JP Morgan and the CFTC directors. I don’t get any response on that, even not a returned e-mail. That is very unusual as price manipulation is the most illegal market practice. The problem is that I am raising these issues but there is never a response. Not from JP Morgan, not from the exchange which should obviously be concerned about the allegations of market corners existing on their exchange, not from the CFTC. We just came through the 5 year anniversary where the CFTC has been investigating the silver price manipulation. This is the investigation that was initiated at my doing because the CFTC data showed this huge short position on the COMEX held by US banks. - Can the gold and silver price only rise after the COMEX and LBMA will default? The LBMA is the most opaque and non-transparent financial organisation. They don’t provide any information about anything. The LBMA could default but I don’t know if anyone would know it. Let’s leave the LBMA out of this. The COMEX, by contrast, is dominating. COMEX is where prices are set (manipulated). If the COMEX were to default, that would destroy the shorting mechanism that JP Morgan and other commercials would cease to exist. Silver particularly would go to the upside. I am not foreseeing a COMEX default. I don’t think it’s the only thing that can free the silver (and gold) market from manipulation. - Butler’s take on the price of gold and silver for the remainder of this year. It’s hard to imagine that the year will not close higher than we are now. If the manipulation of JP Morgan on the market breaks, then the sky is the limit. There is a big difference of a price between a manipulated market or a market that is not manipulated. Particularly in silver, when the manipulation is over, there will be no obvious drag on the price. For the time being, investors need to be prepared for every type of price movement. Ted Butler offers an excellent premium service with weekly updates on the gold and silver market evolutions: www.butlerresearch.com.

Australian bankers frosted by Fed, want their own dollar lower Posted: 20 Sep 2013 02:15 PM PDT Dollar Rise Frustrates RBA Board By Jacob Greber, Bianca Hartge-Hazelman, and Ben Potter Australian Financial Review, Melbourne Friday, September 20, 2013 http://www.afr.com/p/national/dollar_rise_frustrates_rba_board_Gy5H95rxH... Reserve Bank of Australia board ­member John Edwards has expressed frustration that the shock US Federal Reserve decision to continue injecting billions into the ­global financial markets sent the Australian dollar to a three-month high. The decision not to wind back the quantitative easing sent tremors through financial markets around the world, increased the chances of more interest rate cuts by the RBA, and pushed the [Australian] dollar above US95 cents. The higher dollar is likely to frustrate the new government and the Reserve Bank board, which wants a lower ­currency to make Australian manufacturers, tourism operators, and other companies more competitive with their foreign counterparts. ... Dispatch continues below ... ADVERTISEMENT Precious Metals Round Table: Where Do We Go From Here? On Tuesday, September 24, Sprott Asset Management will assemble four experts for a live Internet broadcast about the prospects for the precious metals. Participating will be Sprott's CEO, Eric Sprott; financial letter writer and internationally renowned conference speaker Marc Faber; Sprott's chief investment strategist, John Embry; and Sprott Asset Management President Rick Rule. To participate, please visit: https://event.on24.com/eventRegistration/EventLobbyServlet?target=regist... "I want to see a lower dollar and it's going to take us longer to get there -- so it's not great," said Dr Edwards, who was an economics adviser to former prime minister Paul Keating. Asked what level he would like to see for the dollar, he said: "I wouldn't put a number on it. Lower is good." Fallout from the decision dominated Treasurer Joe Hockey's first international meeting in the job. At an APEC finance ministers' meeting in Bali he discussed the consequences for the ­global economy with counterparts from China, Indonesia, and Singapore, whose economies are vulnerable to a switch in capital to the US economy if rates there start to rise again. The Federal Reserve's Open Market Committee's decision to refrain from slowing the pace of the $US85 billion-a-month bond purchases sent global sharemarkets, most major currencies, and gold surging. The S&P/ASX 200 ­rallied 1.1 per cent to a five-year high of 5295.5, the dollar surged to as much as $US95.22, taking this month's gains to more than 6 per cent. Gold jumped 5.6 per cent to $US1,370 an ounce. The decision wrong-footed most financial market forecasters and re­inflamed debate about a global currency war, where countries manipulate their currencies lower to boost exports. Westpac chief economist Bill Evans, one of a small minority of local analysts to anticipate the Fed move, predicted the RBA would be forced to cut the ­official interest rate to 2 per cent from its record low of 2.5 per cent, a move that could drive up house prices further and fuel fears of a property bubble. Leading businessman Richard ­Goyder, chief executive of Wesfarmers, urged the central bank to hold its nerve and avoid further rate cuts. "If I was the RBA I'd be advocating for a good open economy that allows us to adapt and not just rely on monetary policy," which can have unintended consequences, he said. Dr Edwards downplayed concern about rising property prices, echoing RBA assistant governor ­Malcolm Edey, who said Australia was some way from a house price bubble. "While you might say that the house price issue is effected by the level of our rates, it's certainly not affected by the level of Fed rates, and what's going on there really is an issue of timing of the normalisation of US momentary ­policy," Dr Edwards said. In a sign the decision has worried the Reserve Bank's policymakers, Dr Edwards said he was disappointed the dollar was back up and "it would have been better to have [the taper] sooner." "I would have thought the main thing to be concerned about, overwhelmingly, is that the FOMC, in its wisdom, has come to the view the US economy as too weak to begin to taper. That's quite concerning," he said. "At the same time the consensus of FOMC members is that growth is now, through 2013-14, weaker than they expected." Dr Edwards said the Fed was likely to slow bond purchases before the end of the year. "Whether they taper this month, at the October meeting, or the December meeting is more of a detail," he said. "The response to this decision, which seems to be universal indignation in markets, will likely prompt them to move faster than not." A spokesman for Mr Hockey said the US move had been a "source of significant conversation" among APEC finance ministers meeting in Bali. Mr Hockey, accompanied by ­Treasury secretary Martin Parkinson, held talks with the Indonesian minister of finance, Chatib Basri. They issued a statement that said: "While there are some positive ­economic signs coming from Japan and the US, we still face difficult and potentially volatile economic conditions globally." Another Australian expert to predict that the Fed wouldn't taper, Colonial First State Global Asset Management's head of rates, Annette Mullen, said she doubts the Reserve Bank will cut rates because the dollar has crept higher. "Why would you be the Reserve Bank of Australia fighting the Fed?" she said. Ms Mullen believes the Reserve Bank faces a challenging task balancing the prospect of lower borrowing costs, which could spur economic activity but send the wrong message to property investors. "If you think that housing investment in Australia has improved in recent weeks, you probably don't want to facilitate that," she said. Westpac foreign exchange strategist Richard Franulovich predicted that the ­dollar would climb back towards parity with the US dollar. "Look for currencies like the Aussie, Kiwi, and some key emerging market currencies to trade on the front foot against the US dollar and they could see gains in the order of several percentage points over the coming weeks," he said. Another bullish currency forecaster, UBS, maintains the dollar could reach around US98 cents by year's end. * * * Join GATA here: Gold Investment Symposium 2013 Luna Park Conference Center, Sydney, Australia Wednesday-Thursday, October 16-17, 2013 http://gold.symposium.net.au/ Mines and Money Australia Melbourne Conference and Exhibition Centre Tuesday, October 29-Friday, November 1, 2013 http://www.minesandmoney.com/ New Orleans Investment Conference Sunday-Wednesday, November 10-13, 2013 Hilton New Orleans Riverside Hotel New Orleans, Louisiana https://jeffersoncompanies.com/landing/speakers?IDPromotion=613011610080... * * * 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: http://gata.org/tshirts 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: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16

Von Greyerz, Barron expect increase in QE, not 'tapering' Posted: 20 Sep 2013 01:56 PM PDT 4:50p ET Friday, September 20, 2013 Dear Friend of GATA and Gold: Having predicted that the Federal Reserve would cancel its plan to reduce its bond buying, Swiss gold fund manager Egon von Greyerz today tells King World News that he expects the Fed to increase "quantitative easing" next year and for all major currencies to head toward hyperinflation. An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/20_Ma... Meanwhile at King World News, mining entrepreneur Keith Barron concurs with von Greyerz, adding that while the Indian government has done well at suppressing official imports of gold, smuggling is booming: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/20_Th... CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. ADVERTISEMENT Buy metals at GoldMoney and enjoy international storage GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit: http://www.goldmoney.com/?gmrefcode=gata Join GATA here: Gold Investment Symposium 2013 Luna Park Conference Center, Sydney, Australia Wednesday-Thursday, October 16-17, 2013 http://gold.symposium.net.au/ Mines and Money Australia Melbourne Conference and Exhibition Centre Tuesday, October 29-Friday, November 1, 2013 http://www.minesandmoney.com/ New Orleans Investment Conference Sunday-Wednesday, November 10-13, 2013 Hilton New Orleans Riverside Hotel New Orleans, Louisiana https://jeffersoncompanies.com/landing/speakers?IDPromotion=613011610080... * * * 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: http://gata.org/tshirts 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: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16 ADVERTISEMENT How to profit with silver -- and which stocks to buy now Future Money Trends is offering a special 16-page silver report with our forecast for 2013 that includes profiles of nine companies and technical analysis of their stock performance. Six of the companies have market capitalizations of less than $800 million and one company has a market cap of only $30 million. The most exciting of these companies will begin production in a few weeks and has a market cap of just $150 million. Half of all proceeds from the sale of this report will be donated to the Gold Anti-Trust Action Committee to support its efforts exposing manipulation and fraud in the gold and silver markets. To learn about this report, please visit: http://www.futuremoneytrends.com/index.php?option=com_content&id=376&tmp...

Gold Seeker Weekly Wrap-Up: Gold and Silver End Near Unchanged on the Week Posted: 20 Sep 2013 01:26 PM PDT Gold fell throughout most of trade and ended near its last minute low of $1325.26 with a loss of 2.92%. Silver slipped to as low as $21.725 and ended with a loss of 5.84%.

Gold Daily and Silver Weekly Charts - Triple Witching Hit on GLD and SLV, COMEX Next Week Posted: 20 Sep 2013 01:16 PM PDT

Gold Daily and Silver Weekly Charts - Triple Witching Hit on GLD and SLV, COMEX Next Week Posted: 20 Sep 2013 01:16 PM PDT

An Economic Collapse Of Biblical Proportions Is Coming. By Gregory Mannarino Posted: 20 Sep 2013 01:11 PM PDT An Economic Collapse Of Biblical Proportions Is Coming. By Gregory Mannarino The PetroDollar has hit the end of it's life span. The president is trying to keep it alive so he won't be blamed when... [[ This is a content summary only. Visit http://FinanceArmageddon.blogspot.com or http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

In The News Today Posted: 20 Sep 2013 01:06 PM PDT Gold And The Securities Markets: Taper on according to Financial TV today. Taper off according to the Federal Reserve yesterday. Risk off according the lifeless algos. Risk on according to the lifeless algos. What an unbelievable level for the madness of the crowd. What a game for total fools that runs the gold and securities... Read more » The post In The News Today appeared first on Jim Sinclair's Mineset.

Man Who Predicted No Fed Tapering Now Says To Expect Chaos Posted: 20 Sep 2013 12:33 PM PDT On the back of a wild week of trading in global markets, today the 42-year market veteran, who correctly predicted on Tuesday that the Fed would not taper, is now warning King World News that we should expect chaos in the aftermath of this week's historic events. He also discussed what all of this means for gold and silver. Below is what Egon von Greyerz, founder of Matterhorn Asset Management out of Switzerland, had to say in his interview. This posting includes an audio/video/photo media file: Download Now

COT Gold, Silver and US Dollar Index Report - September 20, 2013 Posted: 20 Sep 2013 12:33 PM PDT COT Gold, Silver and US Dollar Index Report - September 20, 2013

India to resume gold imports but rules mean no rush Posted: 20 Sep 2013 12:11 PM PDT By Anurag Kotoky and Mayank Bhardwaj Reuters Friday, September 20, 2013 NEW DELHI, India -- India will start buying gold again after a two-month gap as the government and banks have agreed how new rules on imports should work, easing prices in the world's biggest bullion buyer and helping supplies just as seasonal demand kicks in. But monthly shipments by the world's top importer are unlikely to be even a quarter of May's record 162 tonnes to start with and annual imports will be sharply down, helping to cut a bulging current account deficit and support the rupee. ... For the complete story: http://in.reuters.com/article/2013/09/20/india-gold-idINDEE98J0902013092... ADVERTISEMENT You Don't Have to Wait for Your Monetary Metal: All Pro Gold Has Product for Immediate Delivery Many investors lately report having to wait weeks and even months for delivery of their precious metal orders. All Pro Gold works with the largest wholesalers that have inventory "live" -- ready to go. All Pro Gold can ship these "live" gold and silver products as soon as payment funds clear. All Pro Gold can provide immediate delivery of 100-ounce Johnson Matthey silver bars, bags of 90 percent junk silver coins, and 1-ounce silver Austrian Philharmonics. All Pro Gold can deliver silver Canadian maple leafs with a two-day delay and 1-ounce U.S. silver eagles with a 15-day delay. Traditional 1-ounce gold bullion coins and mint-state generic gold double eagles are also available for immediate delivery. All Pro Gold has competitive pricing, and its proprietors, longtime GATA supporters Fred Goldstein and Tim Murphy, are glad to answer any questions or concerns of buyers about the acquisition of precious metals and numismatic coins. Learn more at www.allprogold.com or email info@allprogold.com or telephone All Pro Gold toll-free at 1-855-377-4653. Join GATA here: Gold Investment Symposium 2013 Luna Park Conference Center, Sydney, Australia Wednesday-Thursday, October 16-17, 2013 http://gold.symposium.net.au/ Mines and Money Australia Melbourne Conference and Exhibition Centre Tuesday, October 29-Friday, November 1, 2013 http://www.minesandmoney.com/ New Orleans Investment Conference Sunday-Wednesday, November 10-13, 2013 Hilton New Orleans Riverside Hotel New Orleans, Louisiana https://jeffersoncompanies.com/landing/speakers?IDPromotion=613011610080... * * * 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: http://gata.org/tshirts 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: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16

Terrible Technicals Posted: 20 Sep 2013 12:01 PM PDT I have a theory about technical indicators, which is that most people only pay attention to the ones that that confirm what they already think. Technicals are primarily entertainment, in other words. But every once a while a market's charts, graphs, and images line up in a persuasive way, and for U.S. stocks this looks like one of those times. A few examples: Margin debt This is a measure of how much money investors have borrowed against their stocks to buy new stocks. The more exciting their recent gains, the more willing they are to borrow. By definition, they're most excited when stocks have been going up for a long time (otherwise stocks would have stopped going up), so high margin debt tends to precede big corrections. Today, margin debt is just shy of 2007's all-time record. Magazine cover hyperbole The big consumer magazines are known for being inappropriately excited or depressed at major market turns. Businessweek's "Death of Equities" cover – just before the beginning of the 1982-2000 super-bull market – is the most notorious. Time came in a close second with its "Home Sweet Home" cover just before the housing bubble burst, and is now back with a cover titled "How Wall Street Won" – though its subtitle, "Five years after the crash, it could happen all over again," implies that the editors may be hedging their bets. This isn’t a perfect example of magazine hubris, but is close enough for our purposes. Excessive P/E ratios Another measure of investor (over)confidence is the amount they're willing to pay for a given dollar of public company earnings. When pessimistic they're not willing to pay much at all, but when convinced by a few years' of nice gains that they're geniuses, they're willing to pay a lot. Currently, according to Gordon T. Long of Macro Analytics, they're willing to pay even more than in 2007, just before the world almost fell apart. Consumer Sentiment Various organizations like to survey US citizens about how they're feeling and what they intend to buy in the year ahead. They then cook the responses down to a "consumer confidence" number that analysts use to predict retail sales and GDP growth. As you can see from the following chart (also from Macro Analytics' Gordon T. Long), consumers have been repeatedly coaxed out of depression by successively larger rounds of money printing, only to collapse back into despondency when the resulting bubble bursts. Each peak has been lower, implying that stimulus is losing its potency. If the pattern holds, the top is in and another collapse is imminent. Broadening triangle This one is from David Chapman, manager of the Millennium Bullion Fund. As he describes it in a recent SafeHaven article: A broadening triangle pattern is rare and if it does occur it normally is not seen over such a long period of time. This pattern saw its first peak in 2000 (A) followed by the initial bottom in 2002 (B) followed by the huge 5 year rally that topped in October 2007 (C) then the 2008 financial crisis crash (D). The current rally that got underway in March 2009 could soon make its final top (E). A bearish broadening or expanding triangle would normally break down through the bottom of the triangle and have objectives that could in theory equal the widest point of the triangle. In this case, that would be D to E. This scenario could result in a complete collapse of the DJI. Some technical analysts such as Robert Prechter of Elliot Wave International www.elliotwave.com and Robert McHugh of McHugh’s Market Forecasting & Trading Report www.technicalindicatorindex.com have long been forecasting a potential final top to the current Grand Supercycle and that it could culminate in a huge financial collapse. This appears to fit their model.

Gold Backed Money: The Choice of a Free Society Posted: 20 Sep 2013 11:40 AM PDT Is there a connection between human freedom and a gold-redeemable money? At first glance, it would seem that money belongs to the world of economics and human freedom to the political sphere. But when you recall that one of the first moves by Lenin, Mussolini and Hitler was to outlaw individual ownership of gold, you begin to sense that there may be some connection between money, redeemable in gold, and the rare prize known as human liberty. I hold here what is called a $20 gold piece… But today the ownership of such gold pieces as money… is outlawed. Also, when you find that Lenin declared and demonstrated that a sure way to overturn the existing social order and bring about communism was by printing-press paper money, then again you are impressed with the possibility of a relationship between a gold-backed money and human freedom. In that case, then certainly you and I as Americans should know the connection. We must find it even if money is a difficult and tricky subject. I suppose that if most people were asked for their views on money, the almost universal answer would be that they didn’t have enough of it. In a free country, the monetary unit rests upon a fixed foundation of gold or gold and silver independent of the ruling politicians. Our dollar was that kind of money before 1933. Under that system, paper currency is redeemable for a certain weight of gold, at the free option and choice of the holder of paper money. That redemption right gives money a large degree of stability. The owner of such gold-redeemable currency has economic independence. He can move around either within or without his country, because his money holdings have accepted value anywhere. For example, I hold here what is called a $20 gold piece. Before 1933, if you possessed paper money, you could exchange it at your option for gold coin. This gold coin had a recognizable and definite value all over the world. It does so today. In most countries of the world this gold piece, if you have enough of them, will give you much independence. But today, the ownership of such gold pieces as money in this country, Russia and all divers other places is outlawed. The subject of a Hitler or a Stalin is a serf by the mere fact that his money can be called in and depreciated at the whim of his rulers. That actually happened in Russia a few months ago, when the Russian people, holding cash, had to turn it in — 10 old rubles and receive back one new ruble. I hold here a small packet of this second kind of money — printing-press paper money — technically known as fiat money because its value is arbitrarily fixed by rulers or statute. The amount of this money in numerals is very large. This little packet amounts to CNC$680,000. It cost me $5 at regular exchange rates. I understand I got clipped on the deal. I could have gotten $2.5 million if I had purchased in the black market. But you can readily see that this Chinese money, which is a fine grade of paper money, gives the individual who owns it no independence, because it has no redemptive value. Under such conditions, the individual citizen is deprived of freedom of movement. He is prevented from laying away purchasing power for the future. He becomes dependent upon the goodwill of the politicians for his daily bread. Unless he lives on land that will sustain him, freedom for him does not exist. You have heard a lot of oratory on inflation from politicians in both parties. Actually, that oratory and the inflation maneuvering around here are mostly sly efforts designed to lay the blame on the other party’s doorstep. All our politicians regularly announce their intention to stop inflation. I believe I can show that until they move to restore your right to own gold, that talk is hogwash. But first, let me clear away a bit of underbrush. I will not take time to review the history of paper money experiments. So far as I can discover, paper money systems have always wound up with collapse and economic chaos. Here somebody might like to interrupt and ask if we are not now on the gold standard. That is true internationally, but not domestically. Even though there is a lot of gold buried down at Fort Knox, that gold is not subject to demand by American citizens. It could all be shipped out of this country without the people having any chance to prevent it. That is not probable in the near future, for a small trickle of gold is still coming in. But it can happen in the future. This gold is temporarily and theoretically partial security for our paper currency. But in reality, it is not. Also, currently, we are enjoying a large surplus in tax revenues, but this happy condition is only a phenomenon of postwar inflation and our global WPA. It cannot be relied upon as an accurate gauge of our financial condition. So we should disregard the current flush Treasury in considering this problem. From 1930-1946, your government went into the red every year and the debt steadily mounted. Various plans have been proposed to reverse this spiral of debt. One is that a fixed amount of tax revenue each year would go for debt reduction. Another is that Congress be prohibited by statute from appropriating more than anticipated revenues in peacetime. Still another is that 10% of the taxes be set aside each year for debt reduction. All of these proposals look good. But they are unrealistic under our paper money system. They will not stand against postwar spending pressures. The accuracy of this conclusion has already been demonstrated. Under the streamlining act passed by Congress in 1946, the Senate and the House were required to fix a maximum budget each year. In 1947, the Senate and the House could not reach an agreement on this maximum budget, so that the law was ignored. On March 4 this year, the House and Senate agreed on a budget of $37.5 billion. Appropriations already passed or on the docket will most certainly take expenditures past the $40 billion mark. The statute providing for a maximum budget has fallen by the wayside even in the first two years it has been operating and in a period of prosperity. There is only one way that these spending pressures can be halted, and that is to restore the final decisions on public spending to the producers of the nation. The producers of wealth — taxpayers — must regain their right to obtain gold in exchange for the fruits of their labor. This restoration would give the people the final say-so on governmental spending and would enable wealth producers to control the issuance of paper money and bonds. I do not ask you to accept this contention outright. But if you look at the political facts of life, I think you will agree that this action is the only genuine cure. There is a parallel between business and politics that quickly illustrates the weakness in political control of money. Each of you is in business to make profits. If your firm does not make profits, it goes out of business. If I were to bring a product to you and say this item is splendid for your customers, but you would have to sell it without profit, or even at a loss that would put you out of business… Well, I would get thrown out of your office, perhaps politely, but certainly quickly. Your business must have profits. The producers of wealth — taxpayers — must regain their right to obtain gold in exchange for the fruits of their labor. In politics, votes have a similar vital importance to an elected official. That situation is not ideal, but it exists, probably because generally no one gives up power willingly. Perhaps you are right now saying to yourself: “That’s just what I have always thought. The politicians are thinking of votes when they ought to think about the future of the country. What we need is a Congress with some ‘guts.’ If we elected a Congress with intestinal fortitude, it would stop the spending, all right!” I went to Washington with exactly that hope and belief. But I have had to discard it as unrealistic. Why? Because a congressman under our printing-press money system is in the position of a fireman running into a burning building with a hose that is not connected with the water plug. His courage may be commendable, but he is not hooked up right at the other end of the line. So it is now with a congressman working for economy. There is no sustained hookup with the taxpayers to give him strength. When the people’s right to restrain public spending by demanding gold coin was taken from them, the automatic flow of strength from the grass roots to enforce economy in Washington was disconnected. I’ll come back to this later. In January, you heard the president’s message to Congress, or at least you heard about it. It made Harry Hopkins, in memory, look like Old Scrooge himself. Truman’s State of the Union message was “pie in the sky” for everybody except business. These promises were to be expected under our paper currency system. Why? Because his continuance in office depends upon pleasing a majority of the pressure groups. Before you judge him too harshly for that performance, let us speculate on his thinking. Certainly, he can persuade himself that the Republicans would do the same thing if they were in power. Already, he has characterized our talk of economy as “just conversation.” To date, we have been proving him right. Neither the president nor the Republican Congress is under real compulsion to cut federal spending. And so neither one does so, and the people are largely helpless. But it was not always this way… - Howard Buffett Edited from an article featured in the Commercial and Financial Chronicle, 5/6/48 Ed. Note: This essay was prominently featured in The Daily Reckoning email edition, which offers readers regular commentary on everything from gold to the markets at large… and gives them specific opportunities to profit from them. Signing up is completely free, and only takes about 30 seconds. Find out what all the hype is about. Sign up for The Daily Reckoning email edition, for free, right here.

E-Alchemy with the US Fed Posted: 20 Sep 2013 11:03 AM PDT SO LIKE ME, the world and its stockbroker thought the US Fed would start trimming QE money-printing this Wednesday. US Treasury bonds were down, stocks were soft, and gold and silver were long set for a cut to the money-creation scheme, too.

Special Offer: BU Denmark 20 Kroner & MS64 U.S. $20 Liberty Gold Coins Posted: 20 Sep 2013 10:32 AM PDT We have two limited quantity specials for you today, one European, one U.S. Please scroll to U.S. offer: Special #1 – Denmark 20 Kroner BU .2592 oz Christian X, Frederick VII An offer came in this week out of Europe that we couldn’t refuse. A tidy group of 250 Brilliant Uncirculated Denmark 20 Kroner gold coins has shaken loose, and were offered to us so cheaply we almost didn’t believe the offer was legitimate. Denmark 20 Kroner gold coins have always been one of the most highly coveted and scarcest European coin issued in the market and typically trade at high premiums to the gold price. Only once in the past decade have we offered these coins. But given the discount we received in buying this entire group (a discount we will happily pass on to our clients), these coins are offered at rates competitive with pre-1933 mainstays like British Sovereigns and Swiss Francs. To our surprise, we also received 10 of the almost mystical Christian IX “Mermaid” 20 Kroner gold coins. In our experience, once these coins find their way into private holdings, they never make their way back out. As such, we’ve seen these only a few times in company history. These just came to us ‘in the draw’ so to speak, so we’ve decided to pass them on as an incentive to clients who buy 20 or more coins. Anyone who buys 20 or more coins will have the opportunity to buy 1 Mermaid per 20 coins purchased, at the same price. To give you a sense of their relative rarity, only 1.175 million Frederick VII and only 3.668 million Christian X gold coins were minted in just 10 years of total coin production from 1908-1917. By comparison, single year mintages of British Sovereigns frequently topped 30 million pieces. This is an excellent opportunity to secure a unique, hard-to-find position in your gold portfolio and not pay a premium to do so. To see yearly mintages, coin details, and item history, please visit: http://www.usagold.com/gold/coins/denmark.html Offer Details/Incentives: * 250 Coins Available (mixed Christian and Frederick, but majority Christian X) * Priced $405.50-$412.10 depending on quantity ordered (.2592 oz gold per coin – based on spot gold of $1338.00 – prices will change with spot gold) * Free shipping for orders over $2K. * Orders filled first-come, first-served * No Minimum/Maximum How to order? Call our trading desk: 1-800-869-5115×100 Special #2 – U.S. $20 Liberty MS64 A little over a month ago, we ran a promotion on MS63 $20 St. Gaudens (200 coins) that sold out in about 24 hours. For those of you who missed that offer, or who wish to take another step down the same road, I’ve uncovered another superb opportunity – this time in the MS64 $20 Liberty gold coins. Read on… Like the MS63 St. Gaudens deal recently offered, MS64 $20 Liberty gold coins are nominally at their cheapest level since 2009. Based on premium, they are currently about 1.6x the price of gold. While they have been slightly cheaper in premium before (the lowest recorded is about 1.45x spot gold – though when the gold price was much higher), they typically carry premiums of about double the price of gold. Moreover, in middle 2009 during the height of the financial crisis, these coins carried premiums of about 3.4x the price of gold. All told, premiums on these coins currently sit just above all-time lows, and have been considerably higher in the past. The real display in just how under-valued these coins are can be seen by comparing them to their counterpart, the MS65 $20 St. Gaudens. MS64 $20 Liberty coins have almost always traded higher that the MS 65 St. Gaudens on a nominal basis (as seen in the chart below), but currently sit about $150 per unit less. This is meaningful because according to PCGS(Professional Coin Grading Service), only 45K or so MS64 $20 Liberties exist, versus close to 200K $20 St. Gaudens MS65. So it seems a little disjointed that they be less than the Saints, and there’s a good value there. In the cart below, the MS 65 St. Gaudens price is in dark blue and the MS64 $20 Liberty price in purple. The past few weeks have only marked the second time in six years these coins are trading for less than 65 St.’s, whereas they have, at times, been as much as $1000 more expensive to purchase, and have on average cost $288 more over the same period graphed below. So at a current discount of $150/unit to that of 65 St. Gaudens, we conclude that the $20 Liberty MS64 gold coins are roughly $450 undervalued by relative metrics. Here’s a link to a specifications page that contains the price/premium history charts for the MS64 $20 Liberty: http://www.usagold.com/gold/coins/libertyms64.html Special Offer Details: * Only 40 Coins available at special discounted prices * Current prices run $2155 – $2190, depending on quantity ordered * Prices are $100 lower than nearest competitor offer, and in some cases $300-$400 cheaper * Free shipping on all orders * No minimum/maximum * Orders filled first-come/first-served How to order? Call our trading desk: 1-800-869-5115×100

All markets now depend on endless QE, Roberts tells KWN Posted: 20 Sep 2013 10:32 AM PDT 1:28p ET Friday, September 20, 2013 Dear Friend of GATA and Gold: Former Assistant U.S. Treasury Secretary Paul Craig Roberts today tells King World News that all markets now depend on the Federal Reserve's continuing to buy U.S. government debt through "quantitative easing" and that this debt monetization will lead to a flight from the dollar and a general economic crash, but the question is when. An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/20_Fo... CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. ADVERTISEMENT Don't Let Cyprus Happen to You Depositors at the Bank of Cyprus lost 47.5 percent of their savings. So to preserve your wealth, get some of it outside the banking system into physical gold and silver. Worldwide Precious Metals (Canada) Ltd., established in 2001, specializes in physical gold, silver, platinum, and palladium. We offer delivery or secure and fully insured storage outside the banking system in Brinks vaults. We have access to gold and silver from trusted worldwide refineries and suppliers. And when you have an account with us you have immediate access to it for buying and selling your stored bullion. For information on owning physical precious metals in your portfolio, visit us at: www.wwpmc.com. Join GATA here: Gold Investment Symposium 2013 Luna Park Conference Center, Sydney, Australia Wednesday-Thursday, October 16-17, 2013 http://gold.symposium.net.au/ Mines and Money Australia Melbourne Conference and Exhibition Centre Tuesday, October 29-Friday, November 1, 2013 http://www.minesandmoney.com/ New Orleans Investment Conference Sunday-Wednesday, November 10-13, 2013 Hilton New Orleans Riverside Hotel New Orleans, Louisiana https://jeffersoncompanies.com/landing/speakers?IDPromotion=613011610080... * * * 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: http://gata.org/tshirts 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: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16

The Fed's Incredibly Reckless E-Money Printing Posted: 20 Sep 2013 10:25 AM PDT How to collapse the gold price? Discover a way to stop e-printing money to inflation destruction...   WELL, well, gasps Adrian Ash at BullionVault.   Like me, the world and all its hedge-fund managers thought the US Fed would start trimming QE money-printing Wednesday.   US Treasury bonds were down, stocks were soft, and gold and silver were long set for a cut to the money-creation scheme, too.   The Fed seemed determined. Ben Bernanke said as much in June. But no.   "The unemployment rate remains elevated," said its long-awaited September statement, a point repeated by Fed chief Ben Bernanke in his press conference half an hour later.    By then, the US stock market had already leapt to new all-time highs.    "Mortgage rates have risen further," the Fed went on, "and fiscal policy is restraining economic growth. Inflation has been running below the Committee's longer-run objective."    And with that inflation objective at 2.0%, the Fed chief's not kidding. Slipping to 1.3% this summer, the half-decade rate of annual CPI is now less than half its 20-year average. It's below one-third its average pace of the last 60 years.   You can spell "deflation", right?  Better keep running the printing press then, and keep running it at $85bn per month. Or rather, as Bernanke first explained in this infamous 2002 speech, keep running its "electronic equivalent".   How does it work? Back in 2002, as the academic and then Fed-governor said, gold was selling for $300 per ounce. Imagine, he invited his audience, that a modern alchemist found a way to create it. "The price of gold would collapse immediately after the announcement."    Fast forward 11 years, and the Fed chairman's own announcement this week saw the price of the Dollar collapse immediately. Because as the deflation-fighter said in 2002, "US dollars, like gold, have value only to the extent that they are strictly limited in supply."    Unlike gold, however, the Dollar doesn't need alchemy to create it. Just a printing press, "or its electronic equivalent." Plus someone to run it. There's no way deflation can kick in, with prices actually falling, if the Fed chooses to wield this ultimate power over the value of money. Quality is destroyed by quantity. Inflation is certain.   Yet whilst we're all waiting, deflation has ticked closer again. Making more money printing the only possible reply from the Fed.   Fact is, the end of QE should be cheered by savers in precious metals. Because when (if ever) tapering does arrive, and finally kills money printing sometime (if ever) in the next couple of years, we can all get back to earning a decent return from money which isn't being printed into destruction by the Fed's e-alchemist team. But while the exit, even before it actually starts (if ever), is proving painful for us bugs in silver and gold investment, it's also creating havoc for more trusting souls in bonds, stocks and other less political assets as well.   Just what does this week's flip-flopping do to the Fed's credibility in the markets, let alone with savers who might trust it to one day raise interest rates from zero? Bernanke is set to stand aside next January. His likely successor in 2014, Janet Yellen, is still louder in her calls for low rates and money printing. But flip-flop again! What if economists, traders and gold-bug pundits have called her wrong too? We all made a "botched projection on Fed tapering" reckon the professional snarksters at Breakout for Finance Yahoo. And just maybe, some other curious minds are asking, Ben Bernanke actually held off so that Yellen can be first the taper – confounding market expectations that she's such a huge dove on inflation and low rates, she'll make the arch-money printer himself look like a buzzard.   Perhaps. Like St.Louis Fed president Bullard said today – helping reverse the last of silver's 9.5% jump of less than two days ago, with surely a new record for Fed indecision inside 48 hours – "Fed officials will argue that they never told the market that it was likely to be September, and that the data has always been the key," as Standard Bank currency strategist Steven Barrow writes.   "But the surge in yields since Bernanke's speech in May," says Barrow, "when he first forewarned the market about tapering, should have alerted the Fed to the extreme sensitivity of the market.  [It also showed] that playing around with the market's emotions, by not tapering when the market anticipated fewer bond buys, risks damaging the Fed's credibility."   Certain big-name pundit economists have long called for credible recklessness from the Federal Reserve. They're pretty much got it to date, as well. But now the recklessness is getting incredible, however. Gold and silver investors especially should gird up for more volatile days, weeks and months ahead. Investors without precious metals might want to get ready for success at last in Ben Bernanke's long anti-deflation campaign as well.   Clearly it's going to take more money printing though from Janet Yellen first.

The Fed's Incredibly Reckless E-Money Printing Posted: 20 Sep 2013 10:25 AM PDT How to collapse the gold price? Discover a way to stop e-printing money to inflation destruction...   WELL, well, gasps Adrian Ash at BullionVault.   Like me, the world and all its hedge-fund managers thought the US Fed would start trimming QE money-printing Wednesday.   US Treasury bonds were down, stocks were soft, and gold and silver were long set for a cut to the money-creation scheme, too.   The Fed seemed determined. Ben Bernanke said as much in June. But no.   "The unemployment rate remains elevated," said its long-awaited September statement, a point repeated by Fed chief Ben Bernanke in his press conference half an hour later.    By then, the US stock market had already leapt to new all-time highs.    "Mortgage rates have risen further," the Fed went on, "and fiscal policy is restraining economic growth. Inflation has been running below the Committee's longer-run objective."    And with that inflation objective at 2.0%, the Fed chief's not kidding. Slipping to 1.3% this summer, the half-decade rate of annual CPI is now less than half its 20-year average. It's below one-third its average pace of the last 60 years.   You can spell "deflation", right?  Better keep running the printing press then, and keep running it at $85bn per month. Or rather, as Bernanke first explained in this infamous 2002 speech, keep running its "electronic equivalent".   How does it work? Back in 2002, as the academic and then Fed-governor said, gold was selling for $300 per ounce. Imagine, he invited his audience, that a modern alchemist found a way to create it. "The price of gold would collapse immediately after the announcement."    Fast forward 11 years, and the Fed chairman's own announcement this week saw the price of the Dollar collapse immediately. Because as the deflation-fighter said in 2002, "US dollars, like gold, have value only to the extent that they are strictly limited in supply."    Unlike gold, however, the Dollar doesn't need alchemy to create it. Just a printing press, "or its electronic equivalent." Plus someone to run it. There's no way deflation can kick in, with prices actually falling, if the Fed chooses to wield this ultimate power over the value of money. Quality is destroyed by quantity. Inflation is certain.   Yet whilst we're all waiting, deflation has ticked closer again. Making more money printing the only possible reply from the Fed.   Fact is, the end of QE should be cheered by savers in precious metals. Because when (if ever) tapering does arrive, and finally kills money printing sometime (if ever) in the next couple of years, we can all get back to earning a decent return from money which isn't being printed into destruction by the Fed's e-alchemist team. But while the exit, even before it actually starts (if ever), is proving painful for us bugs in silver and gold investment, it's also creating havoc for more trusting souls in bonds, stocks and other less political assets as well.   Just what does this week's flip-flopping do to the Fed's credibility in the markets, let alone with savers who might trust it to one day raise interest rates from zero? Bernanke is set to stand aside next January. His likely successor in 2014, Janet Yellen, is still louder in her calls for low rates and money printing. But flip-flop again! What if economists, traders and gold-bug pundits have called her wrong too? We all made a "botched projection on Fed tapering" reckon the professional snarksters at Breakout for Finance Yahoo. And just maybe, some other curious minds are asking, Ben Bernanke actually held off so that Yellen can be first the taper – confounding market expectations that she's such a huge dove on inflation and low rates, she'll make the arch-money printer himself look like a buzzard.   Perhaps. Like St.Louis Fed president Bullard said today – helping reverse the last of silver's 9.5% jump of less than two days ago, with surely a new record for Fed indecision inside 48 hours – "Fed officials will argue that they never told the market that it was likely to be September, and that the data has always been the key," as Standard Bank currency strategist Steven Barrow writes.   "But the surge in yields since Bernanke's speech in May," says Barrow, "when he first forewarned the market about tapering, should have alerted the Fed to the extreme sensitivity of the market.  [It also showed] that playing around with the market's emotions, by not tapering when the market anticipated fewer bond buys, risks damaging the Fed's credibility."   Certain big-name pundit economists have long called for credible recklessness from the Federal Reserve. They're pretty much got it to date, as well. But now the recklessness is getting incredible, however. Gold and silver investors especially should gird up for more volatile days, weeks and months ahead. Investors without precious metals might want to get ready for success at last in Ben Bernanke's long anti-deflation campaign as well.   Clearly it's going to take more money printing though from Janet Yellen first.

The Fed's Incredibly Reckless E-Money Printing Posted: 20 Sep 2013 10:25 AM PDT How to collapse the gold price? Discover a way to stop e-printing money to inflation destruction...   WELL, well, gasps Adrian Ash at BullionVault.   Like me, the world and all its hedge-fund managers thought the US Fed would start trimming QE money-printing Wednesday.   US Treasury bonds were down, stocks were soft, and gold and silver were long set for a cut to the money-creation scheme, too.   The Fed seemed determined. Ben Bernanke said as much in June. But no.   "The unemployment rate remains elevated," said its long-awaited September statement, a point repeated by Fed chief Ben Bernanke in his press conference half an hour later.    By then, the US stock market had already leapt to new all-time highs.    "Mortgage rates have risen further," the Fed went on, "and fiscal policy is restraining economic growth. Inflation has been running below the Committee's longer-run objective."    And with that inflation objective at 2.0%, the Fed chief's not kidding. Slipping to 1.3% this summer, the half-decade rate of annual CPI is now less than half its 20-year average. It's below one-third its average pace of the last 60 years.   You can spell "deflation", right?  Better keep running the printing press then, and keep running it at $85bn per month. Or rather, as Bernanke first explained in this infamous 2002 speech, keep running its "electronic equivalent".   How does it work? Back in 2002, as the academic and then Fed-governor said, gold was selling for $300 per ounce. Imagine, he invited his audience, that a modern alchemist found a way to create it. "The price of gold would collapse immediately after the announcement."    Fast forward 11 years, and the Fed chairman's own announcement this week saw the price of the Dollar collapse immediately. Because as the deflation-fighter said in 2002, "US dollars, like gold, have value only to the extent that they are strictly limited in supply."    Unlike gold, however, the Dollar doesn't need alchemy to create it. Just a printing press, "or its electronic equivalent." Plus someone to run it. There's no way deflation can kick in, with prices actually falling, if the Fed chooses to wield this ultimate power over the value of money. Quality is destroyed by quantity. Inflation is certain.   Yet whilst we're all waiting, deflation has ticked closer again. Making more money printing the only possible reply from the Fed.   Fact is, the end of QE should be cheered by savers in precious metals. Because when (if ever) tapering does arrive, and finally kills money printing sometime (if ever) in the next couple of years, we can all get back to earning a decent return from money which isn't being printed into destruction by the Fed's e-alchemist team. But while the exit, even before it actually starts (if ever), is proving painful for us bugs in silver and gold investment, it's also creating havoc for more trusting souls in bonds, stocks and other less political assets as well.   Just what does this week's flip-flopping do to the Fed's credibility in the markets, let alone with savers who might trust it to one day raise interest rates from zero? Bernanke is set to stand aside next January. His likely successor in 2014, Janet Yellen, is still louder in her calls for low rates and money printing. But flip-flop again! What if economists, traders and gold-bug pundits have called her wrong too? We all made a "botched projection on Fed tapering" reckon the professional snarksters at Breakout for Finance Yahoo. And just maybe, some other curious minds are asking, Ben Bernanke actually held off so that Yellen can be first the taper – confounding market expectations that she's such a huge dove on inflation and low rates, she'll make the arch-money printer himself look like a buzzard.   Perhaps. Like St.Louis Fed president Bullard said today – helping reverse the last of silver's 9.5% jump of less than two days ago, with surely a new record for Fed indecision inside 48 hours – "Fed officials will argue that they never told the market that it was likely to be September, and that the data has always been the key," as Standard Bank currency strategist Steven Barrow writes.   "But the surge in yields since Bernanke's speech in May," says Barrow, "when he first forewarned the market about tapering, should have alerted the Fed to the extreme sensitivity of the market.  [It also showed] that playing around with the market's emotions, by not tapering when the market anticipated fewer bond buys, risks damaging the Fed's credibility."   Certain big-name pundit economists have long called for credible recklessness from the Federal Reserve. They're pretty much got it to date, as well. But now the recklessness is getting incredible, however. Gold and silver investors especially should gird up for more volatile days, weeks and months ahead. Investors without precious metals might want to get ready for success at last in Ben Bernanke's long anti-deflation campaign as well.   Clearly it's going to take more money printing though from Janet Yellen first.

Special Offer: BU Denmark 20 Kroner & MS64 $20 Liberty Gold Coins Posted: 20 Sep 2013 10:25 AM PDT We have two limited quantity specials for you today, one European, one U.S. Please scroll to U.S. offer: Special #1 – Denmark 20 Kroner BU .2592 oz Christian X, Frederick VII An offer came in this week out of Europe that we couldn’t refuse. A tidy group of 250 Brilliant Uncirculated Denmark 20 Kroner gold coins has shaken loose, and were offered to us so cheaply we almost didn’t believe the offer was legitimate. Denmark 20 Kroner gold coins have always been one of the most highly coveted and scarcest European coin issued in the market and typically trade at high premiums to the gold price. Only once in the past decade have we offered these coins. But given the discount we received in buying this entire group (a discount we will happily pass on to our clients), these coins are offered at rates competitive with pre-1933 mainstays like British Sovereigns and Swiss Francs. To our surprise, we also received 10 of the almost mystical Christian IX “Mermaid” 20 Kroner gold coins. In our experience, once these coins find their way into private holdings, they never make their way back out. As such, we’ve seen these only a few times in company history. These just came to us ‘in the draw’ so to speak, so we’ve decided to pass them on as an incentive to clients who buy 20 or more coins. Anyone who buys 20 or more coins will have the opportunity to buy 1 Mermaid per 20 coins purchased, at the same price. To give you a sense of their relative rarity, only 1.175 million Frederick VII and only 3.668 million Christian X gold coins were minted in just 10 years of total coin production from 1908-1917. By comparison, single year mintages of British Sovereigns frequently topped 30 million pieces. This is an excellent opportunity to secure a unique, hard-to-find position in your gold portfolio and not pay a premium to do so. To see yearly mintages, coin details, and item history, please visit: http://www.usagold.com/gold/coins/denmark.html Offer Details/Incentives: * 250 Coins Available (mixed Christian and Frederick, but majority Christian X) * Priced $405.50-$412.10 depending on quantity ordered (.2592 oz gold per coin – based on spot gold of $1338.00 – prices will change with spot gold) * Free shipping for orders over $2K. * Orders filled first-come, first-served * No Minimum/Maximum How to order? Call our trading desk: 1-800-869-5115×100 Special #2 – U.S. $20 Liberty MS64 A little over a month ago, we ran a promotion on MS63 $20 St. Gaudens (200 coins) that sold out in about 24 hours. For those of you who missed that offer, or who wish to take another step down the same road, I’ve uncovered another superb opportunity – this time in the MS64 $20 Liberty gold coins. Read on… Like the MS63 St. Gaudens deal recently offered, MS64 $20 Liberty gold coins are nominally at their cheapest level since 2009. Based on premium, they are currently about 1.6x the price of gold. While they have been slightly cheaper in premium before (the lowest recorded is about 1.45x spot gold – though when the gold price was much higher), they typically carry premiums of about double the price of gold. Moreover, in middle 2009 during the height of the financial crisis, these coins carried premiums of about 3.4x the price of gold. All told, premiums on these coins currently sit just above all-time lows, and have been considerably higher in the past. The real display in just how under-valued these coins are can be seen by comparing them to their counterpart, the MS65 $20 St. Gaudens. MS64 $20 Liberty coins have almost always traded higher that the MS 65 St. Gaudens on a nominal basis (as seen in the chart below), but currently sit about $150 per unit less. This is meaningful because according to PCGS(Professional Coin Grading Service), only 45K or so MS64 $20 Liberties exist, versus close to 200K $20 St. Gaudens MS65. So it seems a little disjointed that they be less than the Saints, and there’s a good value there. In the cart below, the MS 65 St. Gaudens price is in dark blue and the MS64 $20 Liberty price in purple. The past few weeks have only marked the second time in six years these coins are trading for less than 65 St.’s, whereas they have, at times, been as much as $1000 more expensive to purchase, and have on average cost $288 more over the same period graphed below. So at a current discount of $150/unit to that of 65 St. Gaudens, we conclude that the $20 Liberty MS64 gold coins are roughly $450 undervalued by relative metrics. Here’s a link to a specifications page that contains the price/premium history charts for the MS64 $20 Liberty: http://www.usagold.com/gold/coins/libertyms64.html Special Offer Details: * Only 40 Coins available at special discounted prices * Current prices run $2155 – $2190, depending on quantity ordered * Prices are $100 lower than nearest competitor offer, and in some cases $300-$400 cheaper * Free shipping on all orders * No minimum/maximum * Orders filled first-come/first-served How to order? Call our trading desk: 1-800-869-5115×100

Fed Unleashes Gold Posted: 20 Sep 2013 10:08 AM PDT The Federal Reserve shocked the financial world this week, defying universal expectations. It failed to start reducing the pace of its third quantitative-easing campaign's debt monetizations, delaying the long-anticipated QE3 taper ... Read More...

11.6 Billion and Counting: Voyager 1 Makes Interstellar History Posted: 20 Sep 2013 09:36 AM PDT I didn't meet Capt. Janeway until I was in my 20s, but I felt as though I'd known her all my life. In fact, being the unapologetic geek that I am, I've always looked up to the brave leaders of those star-faring ships that took me places I had never imagined before… Capt. Janeway And it looks like Voyager is at it again. Each Voyager spacecraft is equipped with a special kind of "time capsule" designed to relay information to distant alien races across time and distance. After what scientists estimate to be about a year of traveling through a sea of plasma and ionized gas, NASA’s spacecraft Voyager 1 has finally become the first man-made object to travel into interstellar space. In fact, this happened sometime back in August 2012, but due to the complicated process of filtering through and interpreting the virtually endless data being relayed by the Voyager spacecraft, it's taken us this long to confirm it. Voyager 1 and its twin Voyager 2 were both launched 36 years ago with a mission to explore Jupiter and Saturn. After the unprecedented success of that excursion, their foray into space was extended indefinitely. The Voyager Interstellar Mission, or VIM, began about 12 years after the 1977 launch and after completing the initial mission of solar planet exploration. The new mission is simple: Keep going. Over the coming years, scientists hope to learn much more about the properties of our own solar system as well as what lies beyond. Now Voyager 2 is somewhere in the neighborhood of 9.5 billion miles from the sun, while Voyager 1 is about 11.6 billion miles out, and both are still moving quickly into the unknown. Don't worry, though. We made sure they were well prepared… Each Voyager spacecraft is equipped with a special kind of "time capsule" designed to relay information to distant alien races across time and distance. The delivery device itself is actually a gold-plated copper disk imprinted with sounds and images that are meant to communicate the diversity of life and culture on planet Earth. Credit: NASA JPL A variety of information was integrated into these "time capsules," including spoken greetings in 55 languages, 90 minutes of music and 115 images ranging from diagrams of human evolution to photos of everyday things like grocery stores and highways during rush hour. But since it will be about 40,000 years before either Voyager passes the closest planetary system, the odds aren't really in our favor of someone finding them. In fact, the only way it's likely to happen at all is if there's an advanced race of beings out there with ability to detect and retrieve the craft. And even if that's the case, it will be a long time before we hear from them. Still, I say we hold out hope. After all, we may not be the first ones to try this. It's possible that there's a time capsule from another world heading in this direction as we speak. And if there is, I know we'll find a way to get our hands on it so we can say hello. Here's to the future, Patrick Copeland for The Daily Reckoning Ed. Note: LED displays… Artificial limbs… Memory foam… Clearly the exploration of space has given us more than Tang and freeze-dried steak. Indeed, it has yielded some of the world’s most exciting and useful technologies, and even if federal funding has waned in recent years, the next great tech story could very well still emerge from this sector. The free Tomorrow in Review newsletter makes sure to keep a close eye on this, as well as all the other incredible tech stories coming to market. It’s like Wired, but with real actionable investment advice. Get in on the ground floor of the next great tech story. Sign up for Tomorrow in Review, for free, right here.

The Daily Market Report Posted: 20 Sep 2013 09:17 AM PDT Gold Retreats on First Hint of October Taper 20-Sep (USAGOLD) — Gold continues to retrace the recent Fed inspired gains. The halfway-back point of the recent rally has been slightly exceeded at 1333.35. The first hint of a possible October taper have surfaced in FedSpeak from St. Louis Fed President James Bullard on BloombergTV. Bullard stressed that any such move remains data dependent, but speculated that the data could improve ahead of the October 29-30 FOMC meeting. We suggested in our first post-FOMC commentary that we should be assured, “the Fed will once again dangle the taper possibility before the market in an effort to keep markets from wholly readopting the QEternity meme.” it sure didn’t take long and markets that rallied earlier in the week are now dutifully retreating. However, Bullard also reiterated his concerns about below-target inflation, saying that the Fed should “defend the inflation target from the low side.” Inflation has been below target for some time, despite nearly $3 trillion in asset purchases. Is Bullard saying that we need to increase QE to stoke inflation? This is the more significant piece of the interview in my opinion. We may also be seeing some position squaring ahead of Germany’s national election on Sunday. Chancellor Angela Merkel is widely expected to win a third term, and her CDU party is likely to do well, but in politics there is always the potential for surprises. Once the election dust settles, Merkel and the CDU will have to put together a new governing coalition. That give and take process will have ramifications not only in Germany, but across Europe as well. Despite coming out of recession earlier this year, Europe as a whole is far from out of the woods. Parts of the periphery remain in absolute crisis. If Germany ends up taking an even harder stance on austerity, things could get really interesting in the EU again in a hurry.

Market rigging whistleblower Ted Butler interviewed by Sprott Money News Posted: 20 Sep 2013 09:13 AM PDT 12:05p ET Friday, September 20, 2013 Dear Friend of GATA and Gold: Silver market analyst, financial letter editor, and market rigging whistleblower Ted Butler was interviewed this week by Nathan McDonald of Sprott Money News, discussing manipulation of the gold and silver markets (especially by JPMorganChase & Co.) and the failure of the U.S. Commodity Futures Trading Commission to act against it. The interview is posted in both text and audio at the Sprott Money Internet site here: http://www.sprottmoney.com/news/ask-the-expert-ted-butler-september-2013 CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. ADVERTISEMENT Don't Let Cyprus Happen to You Depositors at the Bank of Cyprus lost 47.5 percent of their savings. So to preserve your wealth, get some of it outside the banking system into physical gold and silver. Worldwide Precious Metals (Canada) Ltd., established in 2001, specializes in physical gold, silver, platinum, and palladium. We offer delivery or secure and fully insured storage outside the banking system in Brinks vaults. We have access to gold and silver from trusted worldwide refineries and suppliers. And when you have an account with us you have immediate access to it for buying and selling your stored bullion. For information on owning physical precious metals in your portfolio, visit us at: www.wwpmc.com. Join GATA here: Gold Investment Symposium 2013 Luna Park Conference Center, Sydney, Australia Wednesday-Thursday, October 16-17, 2013 http://gold.symposium.net.au/ Mines and Money Australia Melbourne Conference and Exhibition Centre Tuesday, October 29-Friday, November 1, 2013 http://www.minesandmoney.com/ New Orleans Investment Conference Sunday-Wednesday, November 10-13, 2013 Hilton New Orleans Riverside Hotel New Orleans, Louisiana https://jeffersoncompanies.com/landing/speakers?IDPromotion=613011610080... * * * 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: http://gata.org/tshirts 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: http://www.gata.org To contribute to GATA, please visit: http://www.gata.org/node/16

Former US Treasury Official - Terrifying US Collapse Ahead Posted: 20 Sep 2013 09:10 AM PDT Today a former US Treasury Official warned King World News that the U.S. is now headed toward a terrifying collapse. He also cautioned that, despite mainstream media propaganda, the Fed and other Western central planners are now desperately trying to keep the current financial system from imploding. This is without question one of the most powerful interviews Dr. Paul Craig Roberts has ever done. This posting includes an audio/video/photo media file: Download Now

Forex Weekly Report 23-29 September, 2013 Posted: 20 Sep 2013 09:01 AM PDT Mr Bernanke surprised the market on 18 September by postponing the tapering process. Notwithstanding the US dollar decline following the announcement, the dovish commitment by the Fed is expected to have further medium-term effect ... Read More...

Fed Unleashes Gold Posted: 20 Sep 2013 08:54 AM PDT The Federal Reserve shocked the financial world this week, defying universal expectations. It failed to start reducing the pace of its third quantitative-easing campaign's debt monetizations, delaying the long-anticipated QE3 taper indefinitely. This surprise ignited sharp moves in nearly all major markets, but gold's was certainly the most impressive. It rocketed higher on the Fed's startling new paradigm shift.

Fed Decision to Delay QE Tapering Unleashes Gold Posted: 20 Sep 2013 08:45 AM PDT The Federal Reserve shocked the financial world this week, defying universal expectations.  It failed to start reducing the pace of its third quantitative-easing campaign’s debt monetizations, delaying the long-anticipated QE3 taper indefinitely.  This surprise ignited sharp moves in nearly all major markets, but gold’s was certainly the most impressive.  It rocketed higher on the Fed’s startling new paradigm shift.

Gold and Silver and Being Long Gamma Posted: 20 Sep 2013 08:36 AM PDT When an option trader has a long gamma position it means that they benefit from volatility and can rebalance their portfolios’ profitably if the underlying asset moves significantly. The more volatile the precious metals becomes, especially to the downside, the more buying interest emerges.

Gold and Silver Prices — Mapping Short Term Volatility Posted: 20 Sep 2013 08:35 AM PDT After years of paying attention to the price action and not the mainstream market commentary. — Thanks in large part to Ted Butler and GATA — here are some of the dominate forces that currently seem to be determining price movements in the precious metals:

India's Gold Bullion Imports to Restart "Immediately" Posted: 20 Sep 2013 08:34 AM PDT Urgent meeting to "resolve differences" as gold trade backs opposition politics...   INDIAN imports of gold bullion will restart "immediately" said the government today, after a hastily convened meeting with importers and exporters "resolved all differences".   After falling to zero this summer, gold bullion imports to India – the world's No.1 consumer nation – may total just 750 tonnes this year, down 11% from 2012 a Congress government official said Thursday.   Trade association the Bombay Bullion Association this week threw its political support behind opposition candidate for the 2014 election Narendra Modi.   Confusion over the current government's 80-20 rule, imposed in July and forcing gold importers to set aside 20% of any shipment for re-export, has led to a collapse in both inflows and outflows of bullion and jewelry, say dealers.   July's gold jewelry exports from India were 70% below a year earlier.   As a proportion of India's gold imports each year, annual exports of jewelry fell from 40% to 29% over the three years to 2013, according to a report from the Reserve Bank of India.   The Indian Rupee meantime eased back vs. the Dollar on Friday, cutting one third off Wednesday's 3% post-Fed surge despite a rise in interest rates by the Reserve Bank of India.   That helped the Indian price of gold bullion rise 0.7% on the day.   "Customs is not clear how to implement the 80/20 principle," one private-bank dealer told reporters ahead of the meeting on Friday.   One tonne of gold bullion is currently "stuck at airports," says vice-chair of the 7,000-member Gems & Jewellery Export Promotion Council, Pankaj Kumar Parekh.   Challenging complaints over the government's rules, however, "The rules are being misread by the people who are supposed to bring in gold and give it to exporters," said trade secretary S.R.Rao going into the meeting.

India's Gold Bullion Imports to Restart "Immediately" Posted: 20 Sep 2013 08:34 AM PDT Urgent meeting to "resolve differences" as gold trade backs opposition politics...   INDIAN imports of gold bullion will restart "immediately" said the government today, after a hastily convened meeting with importers and exporters "resolved all differences".   After falling to zero this summer, gold bullion imports to India – the world's No.1 consumer nation – may total just 750 tonnes this year, down 11% from 2012 a Congress government official said Thursday.   Trade association the Bombay Bullion Association this week threw its political support behind opposition candidate for the 2014 election Narendra Modi.   Confusion over the current government's 80-20 rule, imposed in July and forcing gold importers to set aside 20% of any shipment for re-export, has led to a collapse in both inflows and outflows of bullion and jewelry, say dealers.   July's gold jewelry exports from India were 70% below a year earlier.   As a proportion of India's gold imports each year, annual exports of jewelry fell from 40% to 29% over the three years to 2013, according to a report from the Reserve Bank of India.   The Indian Rupee meantime eased back vs. the Dollar on Friday, cutting one third off Wednesday's 3% post-Fed surge despite a rise in interest rates by the Reserve Bank of India.   That helped the Indian price of gold bullion rise 0.7% on the day.   "Customs is not clear how to implement the 80/20 principle," one private-bank dealer told reporters ahead of the meeting on Friday.   One tonne of gold bullion is currently "stuck at airports," says vice-chair of the 7,000-member Gems & Jewellery Export Promotion Council, Pankaj Kumar Parekh.   Challenging complaints over the government's rules, however, "The rules are being misread by the people who are supposed to bring in gold and give it to exporters," said trade secretary S.R.Rao going into the meeting.

Ron Paul Warns Prepare for the Destruction of the U.S. Dollar Posted: 20 Sep 2013 08:31 AM PDT Today’s AM fix was USD 1,355.25, EUR 1,002.18 and GBP 845.39 per ounce. Yesterday’s AM fix was USD 1,363.50, EUR 1,005.90 and GBP 848.16 er ounce Gold fell $1.10 or 0.08% yesterday, closing at $1,365.20/oz. Silver dropped $0.08 or 0.35%, closing at $23.01. At 3:41 EDT, Platinum fell $3.70 or 0.3% to $1,458.80/oz, while palladium rose $13.85 or 1.9% to $730.59/oz

Ben Bernanke Is Just Stringing You Along – Gold Miners Weekly Posted: 20 Sep 2013 08:00 AM PDT Gold's response to the announcement that QE-Infinity marches on was a 4.1% increase, its biggest move in 15 months. A big contributor to this move was significant ETF buying. This represents a meaningful turnaround from the ETF outflows earlier this year that were feeding unprecedented Asian (i.e. Chinese and Indian) demand.

Recent Rally in Gold - A Sign of Strength? Posted: 20 Sep 2013 07:51 AM PDT According to Reuters, gold is often seen as an inflation hedge (while it is really a system hedge in our opinion) and this safe-haven investment, has fallen nearly 20% this year on fears of an end to easy central bank money, which had propelled ... Read More...

Recent Rally in Gold - A Sign of Strength? Posted: 20 Sep 2013 07:15 AM PDT According to Reuters, gold is often seen as an inflation hedge (while it is really a system hedge in our opinion) and this safe-haven investment, has fallen nearly 20% this year on fears of an end to easy central bank money, which had propelled it to record highs in 2011.

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