Gold World News Flash |
- The End of the Monetary System (TEOTMSAWKI) is Imminent
- Swiss Gold Referendum in Perspective
- Gold Price Golden Bottom?
- Edward Snowden - America's Secret Government
- David Stockman: This Is Monetary Madness Gone Off The Deep End
- David Stockman: The Central Banks Are Run By Madmen
- One Of The Most Spectacular Turns In History Is Taking Place
- The Elite’s Worst Fear: Swiss Gold Initiative — Duane & Hoffman
- ABSOLUTE MUST LISTEN — Jim Rickards: Comprehensive Review of Gold Manipulation, Techniques & Proofs
- This Country Will Collapse & Destabilize The Entire World
- The Truth About World War I: The Hidden History
- In a deflationary world how likely is the US economy to strengthen, interest rates rise and gold prices fall?
- Eric Sprott: Global Gold Demand Is Overwhelming Supply
- Paul Craig Roberts: The Global Financial System Is "A House Of Cards Resting On Corruption"
- China's Shadow Banking Grinds To A Halt As Bad Debt Surges Most In A Decade
- Four key observations from the Deutsche Bank report on the Swiss Gold Initiative
- Price Rigging and Financial Corruption. A Global House Of Cards
- Gold Dragons Grand Strategy
- Movie Bomb Alert - "Interstellar"
- Low gold prices set off buying surge in UAE
- Swiss National Bank chairman forswears 'tricks' to circumvent gold referendum
- Coast To Coast AM - November 15, 2014 Mind Powers & Earth Seeding
- Whatever Happened To $100 Crude Oil Price?
- Gold and Silver 2015 Trend Forecasts, Prices to Go BOOM
- Gold Standard Extremists
| The End of the Monetary System (TEOTMSAWKI) is Imminent Posted: 17 Nov 2014 01:00 AM PST from Grams Gold:
The point is , they both see the end of the monetary system as imminent. They differ in how they think it will play out. Alt-Market states, “Throughout history, in most cases of economic collapse the societies in question believed they were financially invincible just before their disastrous fall. In the years leading up to the Great Depression, numerous mainstream “experts” and politicians were quick to discount the idea of economic collapse, and most people wer more than ready to believe them. John Maynard Keynes in 1927: "We will not have any more crashes in our time." | ||||
| Swiss Gold Referendum in Perspective Posted: 17 Nov 2014 01:00 AM PST Global Economic Analysis | ||||
| Posted: 16 Nov 2014 11:05 PM PST Today I’m going to follow up on my last article “Are commodities at a major turning point”. If commodities and gold are ready to reverse then the first thing that has to happen is the dollar needs to form a top. I think that may have occurred on November 7th when the last employment report was released. Notice how the dollar formed a key reversal on that day, that was retested Friday and failed, forming a bearish engulfing candlestick. | ||||
| Edward Snowden - America's Secret Government Posted: 16 Nov 2014 10:33 PM PST Edward Snowden justifies his action with the premise that democracy requires informed consent. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||
| David Stockman: This Is Monetary Madness Gone Off The Deep End Posted: 16 Nov 2014 10:27 PM PST David Stockman: This Is Monetary Madness Gone Off The Deep End Air Date: November 12th, 2014 The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||
| David Stockman: The Central Banks Are Run By Madmen Posted: 16 Nov 2014 10:25 PM PST David Stockman: The Central Banks Are Run By Madmen Air Date: November 13th, 2014 The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||
| One Of The Most Spectacular Turns In History Is Taking Place Posted: 16 Nov 2014 09:01 PM PST  As the world continues to move into uncharted territory, today a 40-year market veteran sent King World News a powerful piece warning that one of the most spectacular turns in history is now upon us. He also discussed gold, silver, and what investors should be doing in this dangerous environment. Below is what Robert Fitzwilson, founder of The Portola Group, had to say in this exclusive piece for King World News.This posting includes an audio/video/photo media file: Download Now | ||||
| The Elite’s Worst Fear: Swiss Gold Initiative — Duane & Hoffman Posted: 16 Nov 2014 09:00 PM PST from FinanceAndLiberty: | ||||
| ABSOLUTE MUST LISTEN — Jim Rickards: Comprehensive Review of Gold Manipulation, Techniques & Proofs Posted: 16 Nov 2014 07:22 PM PST [Ed. Note: This is a MUST LISTEN. However, although there are some bombshell hardcore facts shared here, with Rickards one must always tread lightly because we know he represents the establishment. Case in point: MUST WATCH: Jim Rickards Visits Keiser Report & Exposes Himself as an Establishment Shill Covering Up CIA Involvement in 9/11 Insider Trading, Calling It "IRRELEVANT."] from Martin Troy: Hat Tip: From SGT Report reader Frank Zak… Start 10 minutes in for total and complete explanation of metals manipulation & why GLD will break and gold take a moon shot. Learn why and how they manipulate the Comex, and why when China gets 8000 tonnes they will let the price zoom up with Fed's permission. | ||||
| This Country Will Collapse & Destabilize The Entire World Posted: 16 Nov 2014 07:20 PM PST from KingWorldNews:
The Japanese government is now partaking in a truly incredible measure to expand its QE program in a desperate attempt to devalue its currency and re-inflate asset bubbles around the world. In other words, Japan is constructing its own "last stand."…. | ||||
| The Truth About World War I: The Hidden History Posted: 16 Nov 2014 07:17 PM PST The hidden history of World War One: how and why the West almost committed suicide, and how far the shadows of the Great War stretch into the present - and the future. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||
| Posted: 16 Nov 2014 06:40 PM PST by Peter Cooper, Arabian Money:
Deflationary world OK but in a deflationary global economic environment how likely is it that the US will be able to keep its fragile economic recovery going let alone raise interest rates? This might have been a good story for 2014, if we forget the GDP slump of Q1 of course. But does it really stack up as a future scenario? Not if you think about it a bit. | ||||
| Eric Sprott: Global Gold Demand Is Overwhelming Supply Posted: 16 Nov 2014 06:23 PM PST Submitted by Adam Taggart via Peak Prosperity, Precious metals have had an especially tough go of it over the past month. Both gold and silver are back in price territory last seen in 2010. Eric Sprott returns to the program to discuss the facts as we know them in this market, and what's likely to happen from here. Specifically, he explains the tremendous imbalance currently seen between global supply and demand for precious metals. In his view, prices will have to correct upwards -- prodigiously -- to bring the two back in alignment:
Click the play button below to listen to Chris' interview with Eric Sprott (38m:46s):
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| Paul Craig Roberts: The Global Financial System Is "A House Of Cards Resting On Corruption" Posted: 16 Nov 2014 05:10 PM PST As most Americans, if not the financial media, are aware, Quantitative Easing (a euphemism for printing money) has failed to bring back the US economy. So why has Japan adopted the policy? Since the heavy duty money printing began in 2013, the Japanese yen has fallen 35% against the US dollar, a big cost for a country dependent on energy imports. Moreover, the Japanese economy has shown no growth in response to the QE stimulus to justify the rising price of imports. Despite the economy's lack of response to the stimulus, last month the Bank of Japan announced a 60% increase in quantitative easing–from 50 to 80 trillion yen annually. Albert Edwards, a strategist at Societe Generale, predicts that the Japanese printing press will drive the yen down from 115 yen to the dollar to 145. This is a prediction, but why risk the reality? What does Japan have to gain from currency depreciation? What is the thinking behind the policy? An easy explanation is that Japan is being ordered to destroy its currency in order to protect the over-printed US dollar. As a vassal state, Japan suffers under US political and financial hegemony and is powerless to resist Washington's pressure. The official explanation is that, like the Federal Reserve, the Bank of Japan professes to believe in the Phillips Curve, which associates economic growth with inflation. The supply-side economic policy implemented by the Reagan administration disproved the Phillips Curve belief that economic growth was inconsistent with a declining or a stable rate of inflation. However, establishment economists refuse to take note and continue with the dogmas with which they are comfortable. In the US QE caused inflation in stock and bond prices as most of the liquidity provided went into financial markets instead of into consumers' pockets. There is more consumer price inflation than the official inflation measures report, as the measures are designed to under-report inflation, thereby saving money on COLA adjustments, but the main effect of QE has been unrealistic stock and bond prices. The Bank of Japan's hopes are that raw material and energy import prices will rise as the exchange value of yen falls, and that these higher costs will be passed along in consumer prices, pushing up inflation and stimulating economic growth. Japan is betting its economy on a discredited theory. The interesting question is why financial strategists expect the yen to collapse under QE, but did not expect the dollar to collapse under QE. Japan is the world's third largest economy, and until about a decade ago was going gangbusters despite the yen rising in value. Why should QE affect the yen differently from the dollar? Perhaps the answer lies in the very powerful alliance between the US government and the banking/financial sector and on the obligation that Washington imposes on its vassal states to support the dollar as world reserve currency. Japan lacks the capability to neutralize normal economic forces. Washington's ability to rig markets has allowed Washington to keep its economic house of cards standing. The Federal Reserve's announcement that QE is terminated has improved the outlook for the US dollar. However, as Nomi Prins makes clear, QE has not ended, merely morphed. The Fed's bond purchases have left the big banks with $2.6 trillion in excess cash reserves on deposit with the Fed. The banks will now use this money to buy bonds in place of the Fed's purchases. When this money runs out, the Fed will find a reason to restart QE. Moreover, the Fed has announced that it intends to reinvest the interest and returning principle from its $4.5 trillion in holdings of mortgage backed instruments and Treasuries to continue purchasing bonds. Possibly also, interest rate swaps can be manipulated to keep rates down. So, despite the announced end of QE, purchases will continue to support high bond prices, and the high bond prices will continue to encourage purchases of stocks, thus perpetuating the house of cards. As Dave Kranzler and I (and no doubt others) have pointed out, a stable or rising dollar exchange value is the necessary foundation to the house of cards. Until three years ago, the dollar was losing ground rapidly with respect to gold. Since that time massive sales of uncovered shorts in the gold futures market have been used to drive down the gold price. That gold and silver bullion prices are rigged is obvious. Demand is high, and supply is constrained; yet prices are falling. The US mint cannot keep up with the demand for silver eagles and has suspended sales. The Canadian mint is rationing the supply of silver maple leafs. Asian demand for gold, especially from China, is at record levels. The third quarter, 2014, was the 15th consecutive quarter of net purchases of gold by central banks. Dave Kranzler reports that in the past eight months, 101 tonnes have been drained from GLD, an indication that there is a gold shortage for delivery to physical purchasers. The declining futures price, which is established in a paper market where contracts are settled in cash, not in gold, is inconsistent with rising demand and constrained supply and is a clear indication of price rigging by US authorities. The extent of financial corruption involving collusion between the mega-banks and the financial authorities is unfathomable. The Western financial system is a house of cards resting on corruption. The house of cards has stood longer than I thought possible. Can it stand forever or are there so many rotted joints that some simultaneous collection of failures overwhelms the manipulation and brings on a massive crash? Time will tell. | ||||
| China's Shadow Banking Grinds To A Halt As Bad Debt Surges Most In A Decade Posted: 16 Nov 2014 04:35 PM PST It is probably not a coincidence that just as we learn that "China's bad loans jumped by the most since 2005 in the third quarter, fueling concern that a cooling economy will be further weakened as banks limit lending to avoid credit risks" that we also learn that in the month of October, China once again slammed the brakes on credit creation, with total new loans dropping to RMB548 billion from RMB857 BN, below the RMB626 BN expected, the lowest monthly expansion in 2014...
... and with the broader Total Social Financing aggregate also tumbling from RMB1050 billion to RMB663 BN, and well below the RMB888 BN consensus estimate.
As the following chart shows the main reason for China's relentless slowdown in its growth pace, which only two years ago was expected to rebound back into the double digits soon (at least according to the IMF), is the ongoing contraction in credit formation, which rising at 13.2% for new loans and 15.4% for TSF outstanding, was the lowest credit expansion recorded in China also since 2005.
So what is the main culprit for the contraction in China's all important credit formation? In two words: shadow banking. As Bank of America summarizes "shadow banking is being tamed" because "the changing structure of TSF suggests that Beijing's efforts in controlling some types of shadow banking have made some achievements. Two major drivers for the steep decline of TSF from Sept to Oct were the falling of non-discounted bills (down RMB241bn) and falling trust loans (down RMB22bn). By contrast, new corporate bonds were at RMB242bn, a sharp rise from RMB151bn in Sept." Breaking this further down:
In other words, China's shadow banking not only ground to a halt, it actually continued moving in reverse! A better explanation comes from JPMorgan:
In other words, as China finally reveals little by little the true extent of its gargantuan bad debt problem (which is far worse than ever in history, although Beijing is taking its time in making the necessary revelations: and after all Chinese banks are all SOEs - if needed they can all just get a few trillions renminbi in in liquidity injections a la the "developed west"), it is also slamming the breaks on the shadow banking system that for years what the sector where marginal credit creation, and thus growth as well as bad debt formation, was rampant. And as Japan showed so clearly just 48 hours after the end of America's own QE3, reserves, like credit and money, are infinitely fungible in the global interconnected market. And infinitely, no pun intended, in demand, because if one central bank ends the goosing of risky assets, another has to immediately step in its place. So while it has been widely documented that Japan is doing all in its power to crush the Japanese economy and in the process to send the Nikkei to all time highs, little has been said about a far greater slowdown in domestic (and indirectly global) credit creation using the "China" channel, where shadow banking has just slammed shut. Finally recall: it was the epic collapse in America's own shadow banking liabilities in the aftermath of the Fannie and Freddie, and shortly thereafter, Lehman bankruptcy, which wiped out $8 trillion from the US shadow banking peak, that was the main reason for the Fed's relentless intervention and attempts to reflate systemic funding since then.
If the shadow banking collapse virus has finally jumped to China, there is no saying just how far Chinese GDP can drop if it is now constrained on the top side by surge in bad debt. One thing is certain: Japan's paltry, in the grand scheme of things, expansion in its own QE will barely be felt if the record Chinese credit creation dynamo is indeed slamming shut. | ||||
| Four key observations from the Deutsche Bank report on the Swiss Gold Initiative Posted: 16 Nov 2014 03:54 PM PST 7p ET Sunday, November 16, 2014 Dear Friend of GATA and Gold: A full copy of last week's Deutsche Bank report on the Swiss Gold Initiative, provided by GATA consultant R.M., conveys these four major points: 1) Any gold purchases made by the Swiss National Bank pursuant to approval of the initiative in the referendum on November 30 are unlikely to have much impact on the gold market because the purchases would be small and made over time and because they likely would be accomplished outside the gold market and through central banks, which are always trading gold among themselves. (Secretly, of course, to facilitate their market interventions.) ... Dispatch continues below ... ADVERTISEMENT Own Allocated -- and Most Importantly -- Zurich, Switzerland, remains an extremely safe location for storing coins and bars of the monetary metals. If you do not own segregated physical coins and bars that you can visit, inspect, and take delivery of, you are vulnerable. International diversification remains vital to investors. GoldCore can accomplish this for you. Read GoldCore's "Essential Guide to Gold Storage In Switzerland" here: http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland Email the GoldCore team at info@goldcore.com or call our trading desk: UK: +44 (0)203 086 9200 -- U.S.: +1-302-635-1160 -- International: +353 (0)1 632 5010 2) The Swiss National Bank could evade the intent of the initiative by moving its reserves into a sovereign wealth fund, thereby diminishing the need for purchasing gold; by the bank's obtaining only gold derivatives rather than gold itself; or, more likely, by "window dressing," by the bank's obtaining gold only overnight at monthly reporting periods, using "gold swaps," which could be quickly reversed until the next reporting period. (In an interview published today, the chairman of the Swiss National Bank said its creation of a sovereign wealth fund was "unthinkable" and that "the SNB cannot simply use some tricks to circumvent the will of the people. I rule that out categorically." See: http://www.gata.org/node/14733.) 3) "It is unknown," the Deutsche Bank report says, "to what extent the major central banks engage in gold swap and repo transactions, since official statistics no longer disaggregate these." That is, the actual location and disposition of government gold reserves are secrets far more sensitive than the location and disposition of nuclear weapons, since, as was confirmed in the secret March 1999 report of the staff of the International Monetary Fund to the IMF's Board of Directors, gold reserves are frequently used by central banks for all sorts of market rigging -- http://www.gata.org/node/12016 -- while nuclear weapons are extremely unlikely ever to be used. 4) The delay in the German Bundesbank's repatriation of its gold reserves from the United States likely has been caused not by any logistical problem but rather by "diplomatic difficulties." The Deutsche Bank report is posted at GATA's Internet site here: http://www.gata.org/files/DeutscheBankSwissGoldReferendum-11-14-2014.pdf CHRIS POWELL, Secretary/Treasurer Join GATA here: Mines and Money London http://www.minesandmoney.com/london/ Vancouver Resource Investment Conference http://cambridgehouse.com/event/33/vancouver-resource-investment-confere... * * * Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference: https://jeffersoncompanies.com/landing/2014-av-powell Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006: http://www.goldrush21.com/order.html Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference: https://jeffersoncompanies.com/landing/2014-av-powell Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit:
This posting includes an audio/video/photo media file: Download Now | ||||
| Price Rigging and Financial Corruption. A Global House Of Cards Posted: 16 Nov 2014 10:34 AM PST As most Americans, if not the financial media, are aware, Quantitative Easing (a euphemism for printing money) has failed to bring back the US economy. So why has Japan adopted the policy? Since the heavy duty money printing began in 2013, the Japanese yen has fallen 35% against the US dollar, a big cost for a country dependent on energy imports. Moreover, the Japanese economy has shown no growth in response to the QE stimulus to justify the rising price of imports. | ||||
| Posted: 16 Nov 2014 09:52 AM PST Zheng Bijian, a leading Chinese intellectual and reformer said: "The most important strategic choice the Chinese made was to embrace globalization." China has made a new most important strategic choice - Asian Regionalization. "In the past few years, both Chinese and foreign analysts began to reach the conclusion that China has developed a fairly consistent and coherent grand strategy... Because economic development is taken as the only way for tackling all the pressing challenges that China is facing and will face, China's grand strategy must serve the central purpose of development. Therefore, the central objective of China's Grand Strategy in the past two decades (which may well last to 2050) can be captured in just one sentence: to secure and shape a conducive environment (security, economic, and political) so that China can concentrate on its development (economic, social, and political)." ~ Tang Shiping and Zhang Yunling, China's Regional Strategy | ||||
| Movie Bomb Alert - "Interstellar" Posted: 16 Nov 2014 09:51 AM PST Not a bad movie, just a very weak movie. Nov. 20, 2014 Money Creation debate in Parliament The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||
| Low gold prices set off buying surge in UAE Posted: 16 Nov 2014 07:36 AM PST By Manoj Nair DUBAI, United Arab Emirates -- Shoppers of gold and jewellery in the UAE have never been in need of a reason or an excuse to buy. There would always be an occasion coming along to indulge in purchases at various times through an year, and if any incentive was needed it would be provided by the generous seasonal promotions such as daily raffles and 1 kilogram of gold as takeaways. But the ongoing softness in global gold prices is prompting more shoppers to snap up more of the metal in its various forms. According to estimates from the local jewellery trade, retail offtake for the full year in the UAE could be up by 15-20 percent in volume terms (in kilograms) compared with 2013. If only the second half of the year is taken into account, which was when prices started to show real weakness, volume gains could even be in the 40-percent range. ... ... For the remainder of the report: http://gulfnews.com/business/retail/low-uae-gold-prices-set-off-buying-s... ADVERTISEMENT Free Storage with BullionStar in Singapore Until 2016 BullionStar is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore. BullionStar's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in BullionStar's bullion vault, which is integrated with BullionStar's shop and showroom, making it a convenient one-stop-shop for precious metals in Singapore. Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage is FREE until 2016 and will have the most competitive rates in the industry thereafter. For more information, please visit Bullion Star here: Join GATA here: Mines and Money London http://www.minesandmoney.com/london/ Vancouver Resource Investment Conference http://cambridgehouse.com/event/33/vancouver-resource-investment-confere... * * * Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference: https://jeffersoncompanies.com/landing/2014-av-powell Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: | ||||
| Swiss National Bank chairman forswears 'tricks' to circumvent gold referendum Posted: 16 Nov 2014 07:28 AM PST SNB Head Says No Sovereign Fund for Gold if Referendum Passes By Katharina Bart ZURICH, Switzerland -- The chairman of the Swiss central bank ruled out creating a sovereign wealth fund to manage Switzerland's gold reserves if a referendum on banning the bank from selling them passes, according to a newspaper interview published on Sunday. The "Save our Swiss gold" proposal, spearheaded by the right-wing Swiss People's Party (SVP), will be put to a plebiscite on Nov 30. ... Asked whether the SNB could set up a fund to manage its gold, chairman Thomas Jordan said such a move -- which some currency dealers have speculated about -- was "unthinkable." "The SNB cannot simply use some tricks to circumvent the will of the people. I rule that out categorically," he told weekly paper Sonntagszeitung. ... ... For the remainder of the report: http://www.reuters.com/article/2014/11/16/swiss-snb-gold-idUSL6N0T60FH20... ADVERTISEMENT Buy precious metals free of value-added tax throughout Europe Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries. Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world. Visit us at www.europesilverbullion.com. Join GATA here: Mines and Money London http://www.minesandmoney.com/london/ Vancouver Resource Investment Conference http://cambridgehouse.com/event/33/vancouver-resource-investment-confere... * * * Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference: https://jeffersoncompanies.com/landing/2014-av-powell Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: | ||||
| Coast To Coast AM - November 15, 2014 Mind Powers & Earth Seeding Posted: 16 Nov 2014 07:03 AM PST Coast To Coast AM - November 15, 2014 Mind Powers & Earth Seeding The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||
| Whatever Happened To $100 Crude Oil Price? Posted: 16 Nov 2014 06:01 AM PST The Paradigm Shift Business news provider Bloomberg, November 14, cited a Tass interview in which Vladimir Putin says that Russia is prepared for "catastrophic falls" of world oil prices and export revenues – on a day when Nymex oil market players and manipultors engineered a classic "sucker's rally" with a one-day 2.5% jump in Brent and WTI prices! Putin is unlikely to be fooled by that rally and Russia, like China has been making very large gold purchases as an insurance policy on likely or probable major currency upheavals, in Russia's case including intensified attacks in the present "war on the ruble" to punish its support for rebels in eastern Ukraine. | ||||
| Gold and Silver 2015 Trend Forecasts, Prices to Go BOOM Posted: 16 Nov 2014 05:57 AM PST “Finally!” in English, “Por fin!” in Spanish and “About bloody time!!” in Australian. The belated rally in gold and silver finally got underway when it was least expected. The contrarian wins again! The final bear market rally in gold and silver kicked off after a fake out move lower and should end with a fake out move higher. That’s the way I see it anyway. Of course the permabulls will be back out in force again calling the next great bull market now in progress and this rally should terminate when those calls reach fever pitch. | ||||
| Posted: 15 Nov 2014 02:00 AM PST What have gold coins got to do with a Gold Standard...? JUST AS there are soft-money extremists (some Fed governors come to mind), there are also hard-money extremists, writes Nathan Lewis at New World Economics. I recently got a note from a friend who wrote a piece called "Why Promoting the Gold Standard Is a Mistake". With a title like that, you might think that he is a fiat-currency fan, maybe even a "Modern Monetary Theory" enthusiast. Nope – he is a gold-coin advocate, who thinks that any kind of representational money (like a gold-linked paper banknote) is a mistake. For him, a "gold standard" means a paper banknote or, perhaps, deposit at the currency issuer, whose value is linked to gold, perhaps via a redeemability function. Unlike many people, my friend has thought out his stance quite precisely. There is some basis for this in US history. The US Constitution itself says that "No State...shall make any thing but gold and silver coin a tender in payment of debts." I think that is pretty clear. But, this described the situation of 1789 – a time when the former colonies had been wracked by hyperinflation, caused by the Continental Congress' financing of the Revolutionary War with paper note emissions. Also, the commercial and financial system was simpler then – mostly subsistence farming – and making payments in gold and silver coins was the normal daily practice. There were apparently four banks in the US at that time that were issuing banknotes, used within their local area. Nobody declared them illegal. But most business was done with bullion coins, mostly of foreign origin. The Chinese too, when their paper money experiments collapsed in the 16th century, went to an all-bullion basis of commerce that lasted until the 20th century. So, it was not a silly idea, in the 1780s. However, as early as 1791, the First Bank of the United States was chartered by Congress, after a long discussion. This was intended to serve as a national bank, with branches throughout the country. It issued its own paper banknotes, convertible into coin, which provided a uniform paper currency throughout the two-year-old United States. This was somewhat in the model of the Bank of England, which had provided a uniform gold-linked paper currency for Britain since the late 17th century, with a long history of success. By 1810, there were 102 chartered banks in the US, each issuing their own gold-linked paper banknotes in a standardized "Dollar" denomination. In 1818, there were 338. In 1859, the number of banknote-issuing banks had risen to over 1,900. The Industrial Revolution was just getting started, and it required a more sophisticated financial system. Nevertheless, many remained wary of the influence of bankers. (Many today think that the first Treasury Secretary, Alexander Hamilton, was influenced in his advocacy for the First Bank of the United States by certain European interests.) In the 1830s, President Andrew Jackson fought diligently against the influence of the "international bankers" in US affairs, and managed to shut down the then-dominant Second Bank of the United States, a proto-central bank along the lines of the Bank of England. Richard Timberlake's book Monetary Policy in the United States provides a wonderful account of the history of US money in the 19th and late 18th centuries. This battle continued up through the Federal Reserve Act of 1913, whose rather dubious creation was nicely described in G. Edward Griffin's book The Creature from Jekyll Island. Even then, the Federal Reserve did not have an effective monopoly on money in the US until after World War II. The United States clung to the Founding Father's vision of a place without the tyranny and despotism of the Old World. Even today, in its dilapidated state, the United States retains the outward functions of representative democracy, while Europe is sinking into what amounts to an unelected mandarinate government not so different than today's China. My friend has many reservations regarding the banking system, as it existed then and today. I too think that banks, as they have existed for the past 500 years of post-Renaissance capitalism, have had a lot of problems associated with them, and should probably be reorganized. I suggest something like splitting today's typical megabank into four independent entities. One entity would have, as liabilities, only checkable demand deposits, usable in payments (in other words, checking accounts), and holding as assets only marketable debt securities with a maturity of less than one year, and bank reserve deposits at the Federal Reserve. This would be a lot like a money market fund. The second would hold, as assets, only loans and marketable debt, and would have as liabilities time deposits, term loans and bonds (no derivatives and other nonsense). This would be, essentially, a traditional lending bank. The third would basically be a broker-dealer, with all derivatives functions. There should probably be a fourth, which is a securities custodian. This would be "Glass-Steagall-Plus." Some people like Boston University professor Laurence Kotlikoff have already made proposals along these lines. Thus, I find these to be reasonable concerns as well, although I'm not sure what it has to do with gold coins. Perhaps it is time for the discussion to become a little more sophisticated. I have long assumed that the Federal Reserve's seignorage profits (the interest income from its multi-trillions in US government debt) are not remitted to the Treasury, according to the official story, but rather represent the profits of the Fed's founders and owners. These kinds of people just don't give money away. Despite all this, I just can't really see myself making a payment for my latest Amazon.com order by sending Amazon some silver coins via Fedex. Nor could I suggest others do so, with a straight face. Although a coinage-only system is not practical today, nevertheless the hard money extremists might help people become aware of some of the more subtle aspects of money and influence in their history. |
There is a popular American military term called a "last stand," which is meant to describe a situation where a combat force attempts to hold a defensive position in the face of overwhelming odds. The defensive force usually sustains very heavy casualties or is destroyed, as happened at Custer’s Last Stand. Misreading his enemy's size and ability, General Custer fought the Battle of Little Bighorn; leading to his annihilation. 
The Goldman Sachs' argument about further falls in the gold price does have a fundamental flaw. The economic scenario it proposes it not very likely to happen, ergo gold prices are on the floor now and set to rise substantially in the very near future. What the bears at this house have argued about gold is quite simple, as they say: 'We expect gold prices to come under significant downward pressure once the US economic recovery strengthens and the US Federal Reserve begins to raise interest rates.'
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