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Sunday, March 2, 2014

Gold World News Flash

Gold World News Flash

Last Call – Ukraine

Posted: 01 Mar 2014 11:30 PM PST

from Jesse's Café Américain:

Gold and silver were under modest pressure much of the day as the February delivery period rolled into the sunset.

Stocks slumped and gold jumped this afternoon when news broke that Russia ‘had invaded’ the Ukraine. President Obama will be speaking on this subject at 4:45 PM today. The Comex warehouse report shows a little offtake. We’ll have to see if there is any more listed next week. We will see what happened to warehouse metals today on next Monday.

The pullback alleviated a short term overbought condition on the charts, and did no technical damage to any formations. March is a very light month for futures activity. The focus now shifts to the physical markets, primarily in Asia, and to April.

Another winter storm, this one called Titan, will be sweeping across the northeastern US on Monday morning.

Read More @ Jessescrossroadscafe.blogspot.ca

The Greatest Propaganda Coup Of Our Time?

Posted: 01 Mar 2014 06:55 PM PST

From Mike Whitney of Counterpunch

The Greatest Propaganda Coup of Our Time?

There's good propaganda and bad propaganda. Bad propaganda is generally crude, amateurish Judy Miller "mobile weapons lab-type" nonsense that figures that people are so stupid they'll believe anything that appears in "the paper of record." Good propaganda, on the other hand, uses factual, sometimes documented material in a coordinated campaign with the other major media to cobble-together a narrative that is credible, but false.

The so called Fed's transcripts, which were released last week, fall into the latter category. The transcripts (1,865 pages) reveal the details of 14 emergency meetings of the Federal Open Market Committee (FOMC) in 2008, when the financial crisis was at its peak and the Fed braintrust was deliberating on how best to prevent a full-blown meltdown. But while the conversations between the members are accurately recorded, they don't tell the gist of the story or provide the context that's needed to grasp the bigger picture. Instead, they're used to portray the members of the Fed as affable, well-meaning bunglers who did the best they could in 'very trying circumstances'. While this is effective propaganda, it's basically a lie, mainly because it diverts attention from the Fed's role in crashing the financial system, preventing the remedies that were needed from being implemented (nationalizing the giant Wall Street banks), and coercing Congress into approving gigantic, economy-killing bailouts which shifted trillions of dollars to insolvent financial institutions that should have been euthanized.

What I'm saying is that the Fed's transcripts are, perhaps, the greatest propaganda coup of our time. They take advantage of the fact that people simply forget a lot of what happened during the crisis and, as a result, absolve the Fed of any accountability for what is likely the crime of the century. It's an accomplishment that PR-pioneer Edward Bernays would have applauded. After all, it was Bernays who argued that the sheeple need to be constantly bamboozled to keep them in line. Here's a clip from his magnum opus "Propaganda":

"The conscious and intelligent manipulation of the organized habits and opinions of the masses is an important element in democratic society. Those who manipulate this unseen mechanism of society constitute an invisible government which is the true ruling power of our country."

Sound familiar? My guess is that Bernays' maxim probably features prominently in editors offices across the country where "manufacturing consent" is Job 1 and where no story so trivial that it can't be spun in a way that serves the financial interests of the MSM's constituents. (Should I say "clients"?) The Fed's transcripts are just a particularly egregious example. Just look at the coverage in the New York Times and judge for yourself. Here's an excerpt from an article titled "Fed Misread Crisis in 2008, Records Show":

"The hundreds of pages of transcripts, based on recordings made at the time, reveal the ignorance of Fed officials about economic conditions during the climactic months of the financial crisis. Officials repeatedly fretted about overstimulating the economy, only to realize time and again that they needed to redouble efforts to contain the crisis." ("Fed Misread Crisis in 2008, Records Show", New York Times)

This quote is so misleading on so many levels it's hard to know where to begin.

First of all, the New York Times is the ideological wellspring of elite propaganda in the US. They set the tone and the others follow. That's the way the system works. So it always pays to go to the source and try to figure out what really lies behind the words, that is, the motive behind the smokescreen of half-truths, distortions, and lies. How is the Times trying to bend perceptions and steer the public in their corporate-friendly direction, that's the question. In this case, the Times wants its readers to believe that the Fed members "misread the crisis"; that they were 'behind the curve' and stressed-out, but–dad-gum-it–they were trying their level-best to make things work out for everybody.

How believable is that? Not very believable at all.

Keep in mind, the crisis had been going on for a full year before the discussions in these transcripts took place, so it's not like the members were plopped in a room the day before Lehman blew up and had to decide what to do. No. They had plenty of time to figure out the lay of the land, get their bearings and do what was in the best interests of the country. Here's more from the Times:

"My initial takeaway from these voluminous transcripts is that they paint a disturbing picture of a central bank that was in the dark about each looming disaster throughout 2008. That meant that the nation's top bank regulators were unprepared to deal with the consequences of each new event."

Have you ever read such nonsense in your life? Of course, the Fed knew what was going on. How could they NOT know? Their buddies on Wall Street were taking it in the stern sheets every time their dingy asset pile was downgraded which was every damn day. It was costing them a bundle which means they were probably on the phone 24-7 to (Treasury Secretary) Henry Paulson whining for help. "You gotta give us a hand here, Hank. The whole Street is going toes-up. Please."

Here's more from the NYT:

"Some Fed officials have argued that the Fed was blind in 2008 because it relied, like everyone else, on a standard set of economic indicators. As late as August 2008, "there were no clear signs that many financial firms were about to fail catastrophically," Mr. Bullard said in a November presentation in Arkansas that the St. Louis Fed recirculated on Friday. "There was a reasonable case that the U.S. could continue to 'muddle through.' ("Fed Misread Crisis in 2008, Records Show", New York Times)

There's that same refrain again, "Blind", "In the dark", "Behind the curve", "Misread the crisis".

Notice how the Times only invokes terminology that implies the Fed is blameless. But it's all baloney. Everyone knew what was going on. Check out this excerpt from a post by Nouriel Roubini that was written nearly a full year before Lehman failed:

"The United States has now effectively entered into a serious and painful recession. The debate is not anymore on whether the economy will experience a soft landing or a hard landing; it is rather on how hard the hard landing recession will be. The factors that make the recession inevitable include the nation's worst-ever housing recession, which is still getting worse; a severe liquidity and credit crunch in financial markets that is getting worse than when it started last summer; high oil and gasoline prices; falling capital spending by the corporate sector; a slackening labor market where few jobs are being created and the unemployment rate is sharply up; and shopped-out, savings-less and debt-burdened American consumers who — thanks to falling home prices — can no longer use their homes as ATM machines to allow them to spend more than their income. As private consumption in the US is over 70% of GDP the US consumer now retrenching and cutting spending ensures that a recession is now underway.

 

On top of this recession there are now serious risks of a systemic financial crisis in the US as the financial losses are spreading from subprime to near prime and prime mortgages, consumer debt (credit cards, auto loans, student loans), commercial real estate loans, leveraged loans and postponed/restructured/canceled LBO and, soon enough, sharply rising default rates on corporate bonds that will lead to a second round of large losses in credit default swaps. The total of all of these financial losses could be above $1 trillion thus triggering a massive credit crunch and a systemic financial sector crisis." ( Nouriel Roubini Global EconoMonitor)

Roubini didn't have some secret source for data that wasn't available to the Fed. The financial system was collapsing and it had been collapsing for a full year. Everyone who followed the markets knew it. Hell, the Fed had already opened its Discount Window and the Term Auction Facility (TAF) in 2007 to prop up the ailing banks–something they'd never done before– so they certainly knew the system was cratering. So, why's the Times prattling this silly fairytale that "the Fed was in the dark" in 2008?

I'll tell you why: It's because this whole transcript business is a big, freaking whitewash to absolve the shysters at the Fed of any legal accountability, that's why. That's why they're stitching together this comical fable that the Fed was simply an innocent victim of circumstances beyond its control. And that's why they want to focus attention on the members of the FOMC quibbling over meaningless technicalities –like non-existent inflation or interest rates–so people think they're just kind-hearted buffoons who bumbled-along as best as they could. It's all designed to deflect blame.

Don't get me wrong; I'm not saying these conversations didn't happen. They did, at least I think they did. I just think that the revisionist media is being employed to spin the facts in a way that minimizes the culpability of the central bank in its dodgy, collaborationist engineering of the bailouts. (You don't hear the Times talking about Hank Paulson's 50 or 60 phone calls to G-Sax headquarters in the week before Lehman kicked the bucket, do you? But, that's where a real reporter would look for the truth.)

The purpose of the NYT article is to create plausible deniability for the perpetrators of the biggest ripoff in world history, a ripoff which continues to this very day since the same policies are in place, the same thieving fraudsters are being protected from prosecution, and the same boundless chasm of private debt is being concealed through accounting flim-flam to prevent losses to the insatiable bondholders who have the country by the balls and who set policy on everything from capital requirements on complex derivatives to toppling democratically-elected governments in Ukraine. These are the big money guys behind the vacillating-hologram poseurs like Obama and Bernanke, who are nothing more than kowtowing sock puppets who jump whenever they're told. Here's more bunkum from the Gray Lady:

"By early March, the Fed was moving to replace investors as a source of funding for Wall Street.

 

Financial firms, particularly in the mortgage business, were beginning to fail because they could not borrow money. Investors had lost confidence in their ability to predict which loans would be repaid. Countrywide Financial, the nation's largest mortgage lender, sold itself for a relative pittance to Bank of America. Bear Stearns, one of the largest packagers and sellers of mortgage-backed securities, was teetering toward collapse.

 

On March 7, the Fed offered companies up to $200 billion in funding. Three days later, Mr. Bernanke secured the Fed policy-making committee's approval to double that amount to $400 billion, telling his colleagues, "We live in a very special time."

 

Finally, on March 16, the Fed effectively removed any limit on Wall Street funding even as it arranged the Bear Stearns rescue." ("Fed Misread Crisis in 2008, Records Show", New York Times)

This part deserves a little more explanation. The author says "the Fed was moving to replace investors as a source of funding for Wall Street." Uh, yeah; because the whole flimsy house of cards came crashing down when investors figured out Wall Street was peddling toxic assets. So the money dried up. No one buys crap assets after they find out they're crap; it's a simple fact of life. The Times makes this sound like this was some kind of unavoidable natural disaster, like an earthquake or a tornado. It wasn't. It was a crime, a crime for which no one has been indicted or sent to prison. That might have been worth mentioning, don't you think?

More from the NYT: "…on March 16, the Fed effectively removed any limit on Wall Street funding even as it arranged the Bear Stearns rescue."

Yipee! Free money for all the crooks who blew up the financial system and plunged the economy into recession. The Fed assumed blatantly-illegal powers it was never provided under its charter and used them to reward the people who were responsible for the crash, namely, the Fed's moneybags constituents on Wall Street. It was a straightforward transfer of wealth to the Bank Mafia. Don't you think the author should have mentioned something about that, just for the sake of context, maybe?

Again, the Times wants us to believe that the men who made these extraordinary decisions were just ordinary guys like you and me trying to muddle through a rough patch doing the best they could.

Right. I mean, c'mon, this is some pretty impressive propaganda, don't you think? It takes a real talent to come up with this stuff, which is why most of these NYT guys probably got their sheepskin at Harvard or Yale, the establishment's petri-dish for serial liars.

By September 2008, Bernanke and Paulson knew the game was over. The crisis had been raging for more than a year and the nation's biggest banks were broke. (Bernanke even admitted as much in testimony before the Financial Crisis Inquiry Commission in 2011 when he said "only one ….out of maybe the 13 of the most important financial institutions in the United States…was not at serious risk of failure within a period of a week or two." He knew the banks were busted, and so did Paulson.) Their only chance to save their buddies was a Hail Mary pass in the form of Lehman Brothers. In other words, they had to create a "Financial 9-11?, a big enough crisis to blackmail congress into $700 no-strings-attached bailout called the TARP. And it worked too. They pushed Lehman to its death, scared the bejesus out of congress, and walked away with 700 billion smackers for their shifty gangster friends on Wall Street. Chalk up one for Hank and Bennie.

The only good thing to emerge from the Fed's transcripts is that it proves that the people who've been saying all along that Lehman was deliberately snuffed-out in order to swindle money out of congress were right. Here's how economist Dean Baker summed it up the other day on his blog:

"Gretchen Morgensen (NYT financial reporter) picks up an important point in the Fed transcripts from 2008. The discussion around the decision to allow Lehman to go bankrupt makes it very clear that it was a decision. In other words the Fed did not rescue Lehman because it chose not to.

 

This is important because the key regulators involved in this decision, Ben Bernanke, Hank Paulson, and Timothy Geithner, have been allowed to rewrite history and claim that they didn't rescue Lehman because they lacked the legal authority to rescue it. This is transparent tripe, which should be evident to any knowledgeable observer." ("The Decision to Let Lehman Fail", Dean Baker, CEPR)

Here's the quote from Morgenson's piece to which Baker is alluding:

"In public statements since that time, the Fed has maintained that the government didn't have the tools to save Lehman. These documents appear to tell a different story. Some comments made at the Sept. 16 meeting, directly after Lehman filed for bankruptcy, indicate that letting Lehman fail was more of a policy decision than a passive one." ("A New Light on Regulators in the Dark", Gretchen Morgenson, New York Times)

Ah ha! So it was a planned demolition after all. At least that's settled.

Here's something else you'll want to know: It was always within Bernanke's power to stop the bank run and end to the panic, but if he relieved the pressure in the markets too soon (he figured), then Congress wouldn't cave in to his demands and approve the TARP. Because, at the time, a solid majority of Republicans and Democrats in congress were adamantly opposed to the TARP and even voted it down on the first ballot. Here's a clip from a speech by, Rep Dennis Kucinich (D-Ohio) in September 2008 which sums up the grassroots opposition to the bailouts:

"The $700 bailout bill is being driven by fear not fact. This is too much money, in too short of time, going to too few people, while too many questions remain unanswered. Why aren't we having hearings…Why aren't we considering any other alternatives other than giving $700 billion to Wall Street? Why aren't we passing new laws to stop the speculation which triggered this? Why aren't we putting up new regulatory structures to protect the investors? Why aren't we directly helping homeowners with their debt burdens? Why aren't we helping American families faced with bankruptcy? Isn't time for fundamental change to our debt-based monetary system so we can free ourselves from the manipulation of the Federal Reserve and the banks? Is this the US Congress or the Board of Directors of Goldman Sachs?"

But despite overwhelming public resistance, the TARP was pushed through and Wall Street prevailed. mainly by sabotaging the democratic process the way they always do when it doesn't suit their objectives.)

Of course, as we said earlier, Bernanke never really needed the money from TARP to stop the panic anyway. (Not one penny of the $700 bil was used to shore up the money markets or commercial paper markets where the bank run took place.) All Bernanke needed to do was to provide backstops for those two markets and, Voila, the problem was solved. Here's Dean Baker with the details:

"Bernanke deliberately misled Congress to help pass the Troubled Asset Relief Program (TARP). He told them that the commercial paper market was shutting down, raising the prospect that most of corporate America would be unable to get the short-term credit needed to meet its payroll and pay other bills. Bernanke neglected to mention that he could singlehandedly keep the commercial paper market operating by setting up a special Fed lending facility for this purpose. He announced the establishment of a lending facility to buy commercial paper the weekend after Congress approved TARP." ("Ben Bernanke; Wall Street's Servant", Dean Baker, Guardian)

So, there you have it. The American people were fleeced in broad daylight by the same dissembling cutthroats the NYT is now trying to characterize as well-meaning bunglers who were just trying to save the country from another Great Depression.

I could be wrong, but I think we've reached Peak Propaganda on this one.

(Note: By "good" propaganda, I mean "effective" propaganda. From an ethical point of view, propaganda can never be good because its objective is to intentionally mislead people…..which is bad.)

Ukraine Crisis -- Current Economic Collapse News Brief

Posted: 01 Mar 2014 02:42 PM PST

Perfect example of the total rookie that Obama was and is today on foreign affairs that Gates warned about. He has no clue and Putin comes out with moral high ground, OBAMA is a LOSER! No clue what he is doing, dragging us to war! I hope and PRAY to GOD he gets his marching orders out of office...

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Stock Market Trend Forecast Into Mid 2015

Posted: 01 Mar 2014 02:00 PM PST

The S&P 500 Index is most likely to be in a topping pattern with an upside bias that lasts for at least another 18 months. This provocative thought is based upon the collective technical analysis of the S&P charts at different time frames (Daily, weekly and monthly), alongside the Elliott Wave count. There has been a comparison to 1987 and more recently, 1929 analog charts that suggest a very sharp decline in the broad stock market indices. The chances of such a sharp decline occurring before 18 months (end of June 2015) is slim and more probable to occur at some point in September 2015. This time frame is based upon Elliott Wave analysis time considerations between wave structures from inter-market analysis. One of the main reasons that I examine gold, US Dollar, 3 currencies, oil, natural gas, AMEX Gold BUGS Index, AMEX Oil Index, S&P 500 Index, 10 Year US Treasury Index, Toronto Stock Exchange, Euro 350 iShares, Nikkei along with various exchange traded funds is to try and view the total picture of the landscape to see how everything is inter-related.

What Is Real Money? -- David Mcalvany

Posted: 01 Mar 2014 12:37 PM PST

What Is Real Money? -- David Mcalvany David McAlvany is President and CEO of the McAlvany Financial Companies – International Collectors Associates, ICA Europe, and McAlvany Wealth Management – and is director of the Swiss Corporation, Global Gold. He is a featured speaker on international...

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Are There Any Chumps Still Holding GLD?

Posted: 01 Mar 2014 11:32 AM PST

In 2013; we saw a series of momentous and unprecedented events. It started in March with "the Cyprus Steal", as the Western banking crime syndicate pushed our Puppet Governments to introduce (and rubber-stamp) a new form of financial crime – the "bail-in".

This then triggered a series of unprecedented events in the gold market. First, the Cyprus Steal alerted big-money players in our markets that no holdings of any form of paper, financial asset  were safe, any longer. This caused the Smart Money to commence the largest exodus ever from the Banksters' paper-called-gold market.

The biggest of the "bullion-ETF" fraud-funds, the infamous SPDR Gold Trust (or "GLD") saw the greatest collapse, with total holdings of this dubious paper plunging by roughly 40% from its peak. This unprecedented collapse in ETF-holdings came despite reports that the Banksters themselves had bought millions of units of their own fraud-funds – forced to do so in order to stave-off the total collapse of the entire paper-called-gold market.

Naturally, with the One Bank's fraud-funds collapsing at the same time that demand for real gold was skyrocketing around the world; this has created some awkward moments for the Corporate media propaganda machine. It responded as it usually does in such situations: by telling much bigger lies.

As global demand for real gold spiked to its highest level on record; the Liars in the Corporate Media were calling this "a bear market" for gold. It pretended that the massive sell-off of paper in the paper-called-market was actually a sell-off of "gold" – despite the fact that Comex inventory numbers proved there was no gold being sold in the New York fraud markets.

As even the drones of the mainstream media can comprehend; if gold-holders were selling their gold (on a net basis), then gold inventories would have (must have) gone up. In fact; Comex inventories collapsed last spring, and at the fastest pace on record. Ipso facto; with inventories falling rapidly, then people were buying gold (and selling paper)  – on a net basis – and in huge quantities.

[chart courtesy of Sharelynx.com]

Expect A Historic Stock Market Collapse & Global Chaos

Posted: 01 Mar 2014 11:21 AM PST

Today one of the most respected money managers in the world warning King World News that investors need to brace themselves for a historic stock market collapse and global chaos. This is one of Michael Pento's, founder of Pento Portfolio Strategies, most timely and important pieces he has ever written.

This posting includes an audio/video/photo media file: Download Now

TF Metals Report: Negative GOFO and rising gold prices

Posted: 01 Mar 2014 10:14 AM PST

1:15p ET Saturday, March 1, 2014

Dear Friend of GATA and Gold:

Gold lease rates being increasingly negative suggest that central banks are lending less and less gold, likely because they have less to lease, the TF Metals Report's Turd Ferguson writes today. He adds that the correlation between negative lease rates and rising gold prices is so strong as to constitute an excellent gold trading signal. Ferguson's commentary is headlined "Negative GOFO and Rising Gold Prices" and it's posted at the TF Metals Report here:

http://www.tfmetalsreport.com/blog/5530/negative-gofo-and-rising-gold-pr...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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Jim Sinclair plans seminars in Los Angeles and San Diego

Gold advocate Jim Sinclair's next market analysis seminars will be held in Los Angeles from 11 a.m. to 2 p.m. on Saturday, March 8, and in San Diego from 2 to 6 p.m. the following day, Sunday, March 9. Details, including registration information, are posted at Sinclair's Internet site, JSMinset.com, here:

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Silver: Position Limits, Commodity Perceptions and Monetary Ignorance

Posted: 01 Mar 2014 06:45 AM PST

Jeffrey Lewis

PETER SCHIFF: "You are going to see riots in the streets"

Posted: 01 Mar 2014 05:56 AM PST

Peter Schiff  IS 100% RIGHT  he is trying to wake the world up to addressing the long term issues not the short term. A dollar decline and eventual collapse is very close...... The usdebtclock is at 17.3 TRILLION NOW!!!!! Peter Schiff is a well-known commentator appearing regularly on...

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Uncertainty In Gold’s Next Directional Move

Posted: 01 Mar 2014 02:48 AM PST

This is an excerpt from this week’s premium update from the The Financial Tap, which is dedicated to helping people learn to grow into successful investors by providing cycle research on multiple markets delivered twice weekly. Now offering monthly & quarterly subscriptions with 30 day refund. Promo code ZEN saves 10%.

Gold reversed this morning after making fresh Daily Cycle highs before moving over $20 to the session lows. Most of the move can be attributed to the dollar’s fairly powerful rally as it confirmed a new DailyCycle of its own. But within the context of this powerful gold Daily Cycle, this remains (to date) just normal gyrations within a sustained uptrend. After all, we’ve seen 13 out of 15 winning sessions and a Cycle rally of $100 from the last Cycle Low. To think anything more of it at this point is to be “over analyzing” the daily chart.

But there is an element of concern now and a reason to be guarded. The Cycle has entered into the early stages for a Daily Cycle Top and therefore a move lower from this point could well signal that the Cycle has topped. But I reiterate, it is a little early for a 2nd Daily Cycle high and from a pricing standpoint, I would expect more upside. This is why I believe gold has more room left to rally higher.

But the dilemma is the dollar, it rallied hard today to confirm its 4th Daily Cycle. A few more days like today (out of the dollar) will likely pressure gold into an early DCL. I don’t expect too much from the dollar, but some “dead-cat bounce” strength here could put the brakes on this Cycle. Soon enough, the dollar will top (which should be very soon), and it should be a substantial move lower. That will provide gold with a significant push higher that is more likely to correspond with gold’s coming 3rd Daily Cycle, not the current 2nd DC.

Unfortunately because of its recent history, from an analysis standpoint we’re forced to question gold’s motives. We’re at the point in the Cycle where it could support moving in either direction. Today could well have marked a DC high with a shallow DCL to come. Or we could see still see our expected continuation higher (as drawn in the chart below) to test the $1,370-$1,400 area. Uncertainty and alternative scenarios in the trading world are just a common and normal development. The key is to be aware of the alternatives and to plan both your position sizing and reaction to each scenario accordingly.

For now, let’s continue to support the notion that a further move higher is coming. But at the same time, let’s acknowledge that a close below $1,322 would be Daily Swing High, a trend-line break, and a 10dma break. The next couple of days will be telling, because gold hitting that trifecta of events would certainly confirm a Daily Cycle headed towards the next Cycle Low.

gold daily 28 february 2014 price

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Gold And Silver - From Now On All that Matters Is That You Own Both

Posted: 01 Mar 2014 02:35 AM PST

Circumstances are at such a point that one no longer needs a justifiable reason for being long physical gold and/or silver. Does it matter that the 50 day moving average is going to cross the 200 day moving average, now being bandied about as though there were a degree of magic associated with the event? Does it matter any more that China remains a record buyer of physical gold for over a year? Did it ever matter that coin sales to the public have been setting records for well over a year?

Lindsey Williams -- Total Financial Collapse in 2014

Posted: 01 Mar 2014 02:00 AM PST

Lindsey Williams & Dr. Rodrigo Rodriguez - K-Talk - Mills Crenshaw -February 19th 2014 Pastor Lindsey Williams & Dr. Rodrigo Rodriguez on K-Talk speaking with Mills Crenshaw on February 19th, 2014 - The first part of the show Dr. Rodriguez talks about healthcare at the International...

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Essential Investor Knowledge for Maximizing Real Gains

Posted: 01 Mar 2014 01:53 AM PST

“Noted investor Jim Rogers says outgoing Federal Reserve Chairman Ben Bernanke has set the stage for the collapse of the U.S. central bank within the next decade, and had turned the nation’s fiscal balance sheet into ‘garbage.’ “In a recent interview with the British financial website Mineweb, Rogers said Bernanke and his fellow central bankers in other countries have brought the global economy to the brink of disaster…. “Rogers predicted that history will remember Bernanke as ‘the guy who set the stage for the demise of the central bank in America.’

Trashing Saudi Cutout States and Ransacking their Gold

Posted: 01 Mar 2014 01:46 AM PST

Betrayals occur in high places, even the highest offices of the land. Furthermore, betrayals occur with some of the most important allies for the nation. See the official German gold account thefts, called euphemistically the repatriation demand. See the shredding of the Constitution, by virtue of the Patriot Act which could easily pass for a comprehensive Fascist Manifesto. See the renege on the Chinese gold lease, on the back end of the Most Favored Nation status granted in 1999. See the permitted security agency narcotics centered in Afghanistan, with its vertically integrated business operation, the clearing house function in Iraq, and money laundering among New York banks, whose product fills American streets. See the numerous deals for stolen Defense weapons, in particular those conducted by the favored US ally, accounted for by means of scrap metal costs associated with entire systems, the details promised the day before 911 but never to have arrived. See the planned bank account confiscations and pension fund confiscations, the procedures having been worked into law, or imminently, as the sacred privacy is stripped. See the string of Executive Decrees, which trample on rights in every conceivable manner, including life itself. See the NSA surveillance, which has been revealed not only for ordinary diverse communications but also for stealing trade secrets and monitoring discussions behind walls during trade deals. Now the latest. See the trashing of the Saudis, and the outright theft of their vast gold held on account in London.

China Financial Collapse

Posted: 01 Mar 2014 01:41 AM PST

China Financial Collapse, Bitcoin Black Eye, Ukraine-Russia War and Bernanke Memoirs Pro-western protesters have force the Ukrainian President to flee, and now there is a new president who is partial to the West. My prediction is Russia will do everything in its power both covertly and overtly to...

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Gold & Silver: From Now On All that Matters Is That You Own Both

Posted: 01 Mar 2014 01:36 AM PST

Circumstances are at such a point that one no longer needs a justifiable reason for being long physical gold and/or silver. Does it matter that the 50 day moving average is going to cross the 200 day moving average, now being bandied about as though there were a degree of magic associated with the event? Does it matter any more that China remains a record buyer of physical gold for over a year? Did it ever matter that coin sales to the public have been setting records for well over a year?

Will it matter to know that the manipulation of gold has now been acknowledged by the totally incompetent main stream media? Is it not a foregone conclusion that nothing will come of any "investigation" by the bought-and-paid-for agencies responsible for ensuring such "events" do not happen? Does it matter that the "suicides" of several bankers over the past few weeks have all been immediately determined as "non-suspicious" by police on the scene?

The answer to all the above should be an obvious No!

What does matter is that the elite's fiat banking Ponzi scheme has been producing more and more digital "currency," which does not exist except as an IOU to the recipient countries that are being bailed out. "I-will-cut-the-deficit-in-half" Obama has allowed the privately owned, [by the elites], Federal Reserve to run up the US deficit to over 17 trillion fiat Federal Reserve Notes.

[You can continue to play the Fool's game and call them "dollars," but in reality, in fact, and in law they are not. However, the elite's Ponzi scheme of deception has people everywhere believing the Fed's fiat currency is a "dollar" and somehow has "value."]

fiat\Fi"at\, [as in money], noun: irredeemable paper currency, not resting on a specie basis, but deriving its purchasing power from the declaratory fiat of the government issuing it. [1913 Webster dictionary]

The definition of fiat has been known for quite some time, [certainly before 1913], yet it does not seem to bother US citizens that the purported "money" that they think they hold is actually a dollar, a deception purposefully perpetrated by the government, in collusion with the elite's central banking system. [Europeans have the fiat Euro].

Would it bother you to find out that your spouse of so many years, or someone you trusted, like a best friend, has been deceiving you into believing a falsehood? falsehood: an untrue representation or assertion]. Once you discovered you had been duped, for decades, would you ever be able to trust or believe in that individual again?

The Federal Reserve, along with the corporate federal government, have done just that. If a Federal Reserve Note, [FRN], is not a dollar, then what is it? It is a commercial debt instrument issued by the Federal Reserve. Here is another revelation for those who have chosen not to question anything: Debt, by its very definition: an obligation to pay, cannot be money!

Add to that is the other pertinent fact that the fiat FRN is irredeemable. It has no, zero intrinsic value. What ever value you may think a FRN has is purely imagined.

Then there is this not so little interesting fact: The Federal Reserve creates FRNs at the cost of paper and ink, then loans its irredeemable fiat paper to the United States Treasury, for which the US taxpayer must pay back, with interest, to the Fed. Guess what the Fed will not accept as a form of repayment? The very same Federal Reserve Notes it issues. The Fed, as a part of the elite's corrupt scheme, demands gold and silver as payment in return for the created-out-of-thin-air "money."

Fed to the bankrupt US government: "You do not have any more gold and silver to repay your debt to us? We will take over the U S Forestry Department as payment. We now own it, and it will now be known as the US Forestry Service. The public will not be any wiser to the switch." "Now we will take over, as in own, the US Post Office. It will be called the US Postal Service. The public will not notice the switch in name." Etc, etc, etc.

The elites own the US through the passage of the Federal Reserve Act of 1913, passed on 23 December, two days before Christmas, when any opposing senators would be home on vacation and unable to cast any vote against the Act. One of the most important Acts passed in this country was done at a time when senate custom was not to pass anything from early December through early January, while most traveled home for the holidays. Travel, in those days, was by horse and carriage and train, primarily, to put this fast one into context.

The elites never take a holiday. For a reason.

When one begins to comprehend the enormity of the theft of all the assets of the US by the elites, for it defies the imagination of most and cognitive dissonance operates to prevent people from believing the truth when presented, for the Lie has been so well sold by the elites through the government and the elite-controlled media. When the enormity of what has transpired in a well-conceived takeover scheme, spanning decades so as to not arouse suspicion, so many things taken for granted are seen in an entirely different light.

Going back to the fourth paragraph, what does matter is the never-ending creation of new debt, now over $17 trillion [FRN], as mentioned, because every fiat system throughout history as failed, and the American people are going to be in for the financial shock of their lives when the FRN "dollar," as it is known, gets devalued in the not too distant future. By how much is unknown, but anywhere from 30% to 70% is likely, if not all at once, then in a few stages.

Those who already own gold and silver will be protected, to a larger degree than otherwise, against the certain-to-come devaluation[s]. We have been advocating the buy and hold strategy for over a year, specifically for physical gold and silver and personally holding the PMs, as well. One of the provisions of the Patriot Act, [such an appealing sounding name, is it not?]…forced through at the direction of the elites to gain further control over unaware citizens, allows the government to raid anyone's safe deposit box that may hold either gold or silver. Still trust the banks?

Some own gold and silver from much higher prices. That is okay and not a cause for concern. When the fiat Ponzi scheme fails, the unnaturally suppressed prices for both PMs will make $50 silver and $1800 gold look like an incredible bargain.

Consider this, a few days ago, the Chinese yuan took the largest drop in five years against the fiat "dollar." China is now recognized as the largest holder of gold. The United States has become the largest debtor nation in history. You have to ask yourself, how is it that the nation that owns the largest gold supply can have its currency decline against the nation that has the largest debt? It defies logic. The games that go on between countries is way beyond us as individuals, and in reality, people are just pawns in the geopolitical scheme of things.

The takeaway from all of this is the more than ever pressing need to keep on buying as much gold and silver as one can afford. Forget price. Ownership is all that matters. No one has a timetable for when things will fall apart, but the signs continue to grow and favor disintegration of the fiat FRN.

The entire world-wide banking system is corrupt and run by corrupt people whose only objective is to steal as much of your money as they can. We are of the mind that the western banking Ponzi scheme can go on for longer than most expect. It could take one or even two to three years longer before the fiat system unravels. Things could also go awry in the next several months. Regardless of when, the handwriting is on the wall for those who pay attention.

Despite the growing acknowledgement that the COMEX and LBMA are just about out of gold, there is nothing glaring from the charts that flashes a dire warning sign. At some point, those in the know and in control will show their hand, somehow, in the paper market. There are changes underway, but all within what would be considered as normal in any market, even though the PM market, marked by excessive manipulation, is far from being like any other market.
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