Thursday, September 29, 2016

Gold World News Flash

Gold World News Flash

Defeating Obama on the JASTA Bill Can Begin the Fall of the British Empire

Posted: 29 Sep 2016 01:00 AM PDT

from LarouchePAC:

A decisive battle between two global power structures—the British Empire and its bankrupt financial oligarchy internationally on the one hand, and the new paradigm for development centered in China, Russia and the forces connected to the LaRouche movement in the US and Europe—is now being decided in the US. The US Senate is scheduled to hold a two hour debate Wednesday morning, and then vote, to override the treasonous veto by the British puppet Obama of the Justice Against Sponsors of Terrorism Act (JASTA), which would allow American victims of 9/11 to bring suit against the Saudi Royals who funded and directed the 9/11 terror assault on the US. These are the same sponsors of essentially all subsequent terrorist movements world wide, including the terrorist forces which destroyed Iraq and Libya, and are attempting to do the same in Syria.

Those who understand that the fate of mankind, of civilization itself, is being challenged by this British/Saudi imperial beast, are mobilizing internationally to bring pressure and encouragement to the Members of the US Congress, which earlier voted unanimously to pass the JASTA Bill, to stand up to the President’s treasonous veto, which placed Obama squarely on the side of the terrorists and their sponsors in Riyadh and London.

A massive mobilization of the Empire’s minions has been thrown into the fight. The Saudis are spending more than $250,000 a month fighting the JASTA bill, hiring powerful lobbyists to coerce the Congress. They have also threatened major US corporations with the termination of their huge assets in the Saudi Kingdom, demanding that they use their clout to threaten Members of Congress to sustain Obama’s veto. Already, according to Politico, GE, Dow Chemical, Boeing and Chevron, and perhaps others, have joined the defense of the Empire’s terrorist forces against American victims of that terror, by pressuring Members of Congress to sustain Obama’s veto, lying that the bill will lead to a massive flight of international business and capital from the US and the collapse of the US economy.

The reality behind this fight is the imminent danger of global war and economic chaos if the US continues its geopolitical confrontation with Russia and China. US Defense Secretary Ash Carter—henceforth to be known as “Nuclear Ash” Carter—, appeared today at the Minot Air Force base in North Dakota, a strategic nuclear weapons base. Standing before a B52 nuclear bomber, Carter declared that the US must replace and modernize its entire nuclear weapons stockpile, to face what he described as a real threat of an attack from Russia or North Korea—even if it were a non-nuclear attack. Obama had earlier announced a $1 trillion program for modernizing some of the U.S. nuclear weapons. Now “Nuclear Ash” has expanded it further, to meet a non-existing threat, while Obama and Carter are moving US strategic forces along the entire Russian border in Europe and the Chinese border in Asia, an unprecedented threat to their security.

It should be no surprise that Carter also penned a letter to the Congress demanding that they sustain Obama’s veto of JASTA, claiming it would jeopardize our military adventures around the world.

At the same time, Reuters reports that unnamed Obama Administration officials have informed them that the US is considering providing shoulder-fired anti-aircraft missiles (Manpads) to the opposition in Syria, and perhaps even surface-to-air missiles (SAMs). Such a move would clearly bring the world closer to world war.

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Posted: 29 Sep 2016 12:00 AM PDT

from Harvey Organ:


… It seems that Shanghai pricing is higher than the other two , (NY and London). The spread has been occurring on a regular basis and thus I expect to see arbitrage happening as investors buy the lower priced NY gold and sell to China at the higher price. This should drain the comex.

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IRS Report Reveals How Obamacare "Spread [$11 Billion] Of Wealth Around"

Posted: 28 Sep 2016 11:45 PM PDT

If folks don't like their healthcare then they can give us all their money so we can give it to other folks.

New IRS disclosures from the 2014 tax year reveal the specifics of how the so-called "Affordable Care Act" helped to facilitate Obama's desire to, as he famously told "Joe the Plumber", "spread the wealth around."  To be precise, in 2014, Obamacare spread $11.2BN of wealth around, in the form of healthcare premium tax credits, with nearly 80% going to taxpayers reporting less that $35,000 of adjusted gross income.  Moreover, the average tax filer received $3,600 of healthcare premium support with those in the lowest tax bracket receiving over $5,500 per person.

Equally disturbing is the fact that 8.1mm tax filers, those who elected to forgo health insurance, were hit with $1.7BN in Obamacare it the "young and healthy tax".  Ironically, 40% of the penalties fell upon people making less than $35,000 per year...the very same people that Obama apparently intended to "help". 

Here's how the subsidies and penalties broke down by tax bracket (the original IRS table can be found here):

ACA Penalties


Of course, the real tragedy of Obamacare is that even if those 8.1mm young and healthy people wanted to buy health insurance, many of them have now likely been priced out of the market as premiums have soared and coverage "options" have vanished as insurers have pulled out of exchanges all over the country (something we discussed at length in a post entitled "Obamacare On "Verge Of Collapse" As Premiums Set To Soar Again In 2017").  In essence, while the bill has seemingly "helped" the 3.1mm people receiving subsidies in the chart above it has trapped the 8.1mm young and health people with a permanent tax increase as they are now even less likely to buy health insurance after Obamacare has driven up the rates astronomically.

But, of course, the Obamacare penalties will only get even worse from here.  According to The Washington Free Beacon, in 2014, uninsured individuals were required to pay the greater of either a flat penalty of $95 for each uninsured adult or 1% of their household's adjusted gross income.  That said, the penalties are set to increase in 2016 to the greater of a flat fee of $695 or 2.5% of AGI.  According to the Congressional Budget Office, taxpayers are expected to pay penalties of $4BN in 2016 and $5BN annually from 2017 through 2024.

Senator Tom Cotton (R-Arkansas), also pointed out the irony in the fact that Obamacare is now penalizing many taxpayers who can no longer afford healthcare simply because Obamacare itself has driven up premiums to such an extent they've been rendered completely unaffordable.

"It's not surprising that the Obamacare mandate numbers are worse than the administration first claimed," said Sen. Tom Cotton (R., Ark.). "Obamacare penalizes taxpayers who can no longer afford insurance that Obamacare made unaffordable."


"As Obamacare continues to unravel, things will only get worse," Cotton said. "The legacy of Obamacare is skyrocketing premiums, unaffordable deductibles, the destruction of the individual insurance market, and tax penalties on Obamacare's victims."

With that, we'll leave you with this blast from the past...


Deutsche Bank Is Going Under: The Real Reason Germans Were Told To Prepare For A National Crisis?

Posted: 28 Sep 2016 09:30 PM PDT

by Daisy Luther, Alt Market:

There is a very real possibility that Deutsche Bank is going down.

If the most prominent bank in Germany fails, the effect on Europe will be profound, and I don't think the United States will escape the effects. The ripples will turn into a tsunami as they travel across the Atlantic. Already, the bank's troubles have stressed the American stock market.

Angela Merkel has stated that Deutsche Bank will not be getting a bailout from the European Central Bank – the lender of last resort for European banks.

The Department of Justice recently issued a $14 billion fine to the bank to settle a mortgage-backed securities probe…and the bank has no intention of paying.

"Deutsche Bank has no intent to settle these potential civil claims anywhere near the number cited," the company said in a statement early Friday in Frankfurt. "The negotiations are only just beginning. The bank expects that they will lead to an outcome similar to those of peer banks which have settled at materially lower amounts."(source)

Deutsche Bank shares fell alarmingly this morning on the news that Merkel won't support the bank.

Deutsche shares fell as much as six percent to €10.67 in early Monday trading, the worst performance since 1992.

The bank has lost over 52 percent of its value since January and over 56 percent in the last twelve months. Earnings per share fell as much as €6.

The collapse has been prompted by a report in the German magazine Focus that said Chancellor Angela Merkel has ruled out any state assistance for the bank next year.

Merkel also declined to provide help to Deutsche Bank in its legal battle with the DoJ. The Frankfurt-based lender may be fined up to $14 billion over its mortgage-backed securities business before the 2008 global crisis, the magazine reported. The article said Merkel made her views clear in talks with Deutsche CEO John Cryan. (source)

Could Germany be considering a bail-in instead of a bail out? Is this why Germans have been told to stockpile food and cash in case of a disaster hitting the country?

According to Investopedia:

A bail-in is rescuing a financial institution on the brink of failure by making its creditors and depositors take a loss on their holdings. A bail-in is the opposite of a bail-out, which involves the rescue of a financial institution by external parties, typically governments using taxpayers money. Typically, bail-outs have been far more common than bail-ins, but in recent years after massive bail-outs some governements now require the investors and depositors in the bank to take a loss before taxpayers.

Are millions of Germans about to see their cash stolen by the government to prop up Deutche bank?

It's happened before. The Bank of Cyprus took almost 40% of depositors cash to keep the bank afloat and there was nothing they could do about it. Assets were frozen and ATM machines were not refilled. (source)

Is this what's ahead for the people of Germany? As I said just a month ago:

When the warnings start, it's already too late.

We've seen this before.

If you've been following collapses around the world for the past few years, you know that right before all heck breaks loose, the government issues a half-hearted warning along the lines of, "You're on your own now." But by then, it's already too late. People who try to prepare after the government tells them to will be dealing with limited supplies as everyone else tries to get prepped too.

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Is a Dollar Crash Imminent After the Senate Overrides Obama Veto on Saudi 9/11 Bill?

Posted: 28 Sep 2016 09:07 PM PDT

President Obama just had his first veto override of his entire presidency today, as the Senate and House both voted to override his veto of the 9/11 victims bill, Justice Against Sponsors of Terrorism Act (JASTA). As of this moment, the Sept 11 bill is now law. Intense lobbying by both the Obama Administration and the Saudi government didn’t amount to much in the end, with strong public support leading to a 97-1 veto override vote today. The long defector from the unanimous vote back in May was Sen. Harry Reid (D – NV). The House easily cleared the two-thirds threshold with a 348-77 vote.

FULL EVENT: Donald Trump Holds Rally in Waukesha, WI 9/28/16

Posted: 28 Sep 2016 08:51 PM PDT

 Wednesday, September 28, 2016: Live stream coverage of the Donald J. Trump for President rally in Waukesha, WI at the Waukesha County Expo Center. Live coverage begins at 6:00 PM CT.LIVE Stream: Donald Trump Rally in Waukesha, WI 9/28/16 The Financial Armageddon Economic Collapse...

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2017: Gold and Silver's Year of "Public Recognition"

Posted: 28 Sep 2016 08:48 PM PDT

In all probability, December 2015 marked the bottom of the cyclical gold and silver bear market – a bear cycle that had been in play since silver topped in May 2011 and gold in September of the same year. During the fourth quarter 2015, share price declines of the precious metals mining companies tapered off once the last of the weak hands gave up and sold their positions to stronger, forward-looking investors.

World’s Liquidity Trap Will Not Yield ‘Surprise’ Monetary Reversals

Posted: 28 Sep 2016 08:30 PM PDT

from The Daily Bell:

In Super Wednesday's central bank double-header, the Federal Reserve's show may be an afterthought to the Bank of Japan's performance.  In a case of unusual timing, both the BOJ and the Fed will announce the outcomes of their monetary policy meetings on Wednesday. While the two major central banks frequently meet in the same week, a same-day announcement was unusual.  The BOJ statement is due around midday Japan time Wednesday and the Fed's statement is scheduled for later in the global day, around 2 p.m. Eastern time. -CNBC

The Bank of Japan's Wednesday meeting is attracting considerable attention because of its capacity to "surprise."

The Federal Reserve meeting is not expected to contain such surprises, though there is of course the possibility that the Fed will engage a quarter point hike.

But in the longer term we'd argue as we have before that there are no real surprises inherent in central bank rate manipulations for the foreseeable future.

The trend is toward easier and easier money. And this benefits both gold and silver, but especially silver given its current, continued price status

Silver moved up to around $50 an ounce some 35 years ago but currently hovers around $20 an ounce. There is plenty of room for silver to travel upwards without breaching its 20th century highs.

Both metals can surely travel upwards by significant amounts and likely will despite determined and ongoing price-suppression efforts.

For instance, the Chinese markets were closed for part of last week and "insider" silver reporting featured speculation on a price raid that pushed silver down while the Chinese were out of action.

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Scams & Fantasies – An Even Dozen

Posted: 28 Sep 2016 07:40 PM PDT

by Gary Christenson, Deviant Investor:

Steve Saville: "…there is no limit to how much new money the central bank can create."


  • The Federal Reserve – the central bank of the United States – issued over $16 trillion in loans, swaps, guarantees and more following the 2008 financial crisis. They also increased their balance sheet by nearly $4 trillion – thanks to their (digital) printing press. Much of that newly created currency was used to purchase dodgy bank debt that was worth little. "Money from nothing" is their specialty and they used it to "stimulate" the economy, a fantasy. The ECB and BOJ indulged in the same fantasy/scam.

  • The Swiss Central Bank has created billions in new Swiss currency and used that currency to purchase the stocks of corporations. They created the currency from nothing, thereby diluting all existing Swiss currency units, and then purchased assets that have real value. Something from nothing is used by all central banks and is both a fantasy and a scam.
  • If the Swiss Central Bank can create currency from nothing and purchase Facebook stock or gold mining stocks, other central banks can create currency from nothing and purchase physical gold from anyone who will sell the metal. Creating currency and using it to purchase gold is a great scam for those who can get away with it.
  • A person speaking broken English called a homeowner. He claimed he was from "The Federal Government Grants and Treasury Department" and informed the homeowner that he had been randomly selected to receive a grant from the US government for $9,200. All the homeowner had to do was … something about his credit card … a scam.
  • The US government owes nearly $20 trillion in official debt. Unfunded liabilities are considerably more. Total debt in the world, not counting unfunded liabilities, exceeds $200 trillion. If the debt must be "rolled over" but can never be paid, is it real? When will institutions no longer pretend that debt is real and reject the fantasy of repayment?

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How Much Money Have Humans Created - A Visual History

Posted: 28 Sep 2016 06:11 PM PDT

The dollar amounts are so staggering, that simply telling you how much money humans have created probably wouldn’t convey the magnitude. However, The Money Project's data visualization in this video, allows us to relate numbers in the millions, billions, and trillions to create the context to make it more understandable.

Source: Visual Capitslist

Starting With Context

The median U.S. household income of $54,000 is a number that most people can relate to. It’s enough money to save up to buy a car, or maybe even a house depending on where you live.

Multiply that income by eight, and that number is now big enough to count as being in the top 1% of earners. People in the “one percent” make at least $430,000 per year.

Famous celebrities and businesspeople have fortunes that dwarf those of many “one percenters”. Actor George Clooney, for example, has a net worth of $180 million. Meanwhile, author J.K. Rowling is estimated to have a net worth of roughly $1 billion according to Forbes.

Zuckerberg takes things to a whole new level. His net worth worth is $53 billion, thanks to the value of Facebook stock. Lastly, Bill Gates regularly tops the “richest people” lists with a wealth of $75 billion – though lately that number has been a little higher based on stock fluctuations.

However, even the wealth of the richest human on Earth is not enough to get up to our unit of measurement that we use in the video: each square is equal to $100 billion.

The World’s Money

Some of the world’s biggest companies take up just a few squares with our unit of measurement. ExxonMobil for example has a market capitalization of about $350 billion, and the world’s largest public company by market capitalization, Apple, is at about $600 billion.

The total of the world’s physical currency – all coins and bills denominated in dollars, euros, yen, and other currencies – is about $5 trillion.

Meanwhile, if we add checking accounts to the equation, the number for the amount of money in the world goes up to $28.6 trillionaccording to the CIA World Factbook. This is called “narrow money”.

Add all money market, savings, and time deposits, and the number jumps up to $80.9 trillion – or “broad money”.

But that’s nothing compared to the world of Wall Street.

Wall Street

All stock markets added together are worth $70 trillion, and global debt is $199 trillion.

That’s all impressive, but the derivatives market takes the cake. Derivatives are contracts between parties that derive value from the performance of underlying assets, indices, or entities. On the low end, the notional value of the derivatives market is estimated to be a whopping $630 trillion according to the Bank of International Settlements.

However, that only accounts for OTC (over-the-counter) derivatives, and the truth is that no one actually knows the size of the derivatives market. It’s been estimated by some that it could be as high as $1.2 quadrillion, and others estimate it could be even higher.

There are many financial critics who worry about the risk that these contracts pile onto the global financial system. With the sheer size of the derivative market dwarfing all others, it’s understandable why business mogul Warren Buffett has called derivatives “financial weapons of mass destruction”.

Damage Control for a Horse with Two Broken Legs

Posted: 28 Sep 2016 05:59 PM PDT

by Andy Hoffman, Miles Franklin:

Do you want to know why the Cartel was so hell bent on capping gold at $1,340/oz on Monday, in perhaps the most PM-bullish news environment imaginable? You know, when Deutsche Bank was plummeting 9%; the Algiers oil meeting was on the verge of failing; and the stock market was plunging – albeit, by exactly the PPT's "ultimate limit down" of 1%; ahead of the potentially status quo changing debate that evening? Let alone yesterday, when DB plunged anew, and the Algiers meeting did in fact fail?

imple, because yesterday was COMEX options expiration day, and $1,338 represented gold's 50-day moving average.  Which is probably why "someone," for the third time in the past week, dumped threemassive "market sell" orders around the COMEX opening – the first, for 7,000 contracts," in the thinly-traded "pre-market" at 6:45 am EST; the second, for 6,000 contracts, ten minutes before the COMEX open, at 8:10 AM EST; and the third, for 5,000 contracts, at 8:45 AM.  All in all, 18,000 contracts, representing 1.8 million ounces of "paper gold," worth $2.4 billion.  In other words, par from the course, amidst a "summer of hell" for PM investors – during which, as the political, economic, and monetary world crumbled around it, the Cartel has maniacally held Precious Metals around their initial post-Brexit highs.  Quite obviously, guarding the key technical levels of $1,375 oz (gold's five-year downtrend line) and $20.40/oz (silver's 50-month moving average) – knowing full-well that "buy stops" above those levels will likely catalyze the next, massive surge in real money buying we all know is coming.  And given how these "terrifying trends" are worsening, I have never felt stronger that this Fall will be the "season of hell" for the powers that be, at the expense of those who have done the right thing by preparing for it.

Already, said "powers that be" are in massive "damage control" mode; first, in crude oil – i.e., the world's most important financial market, given how many corporations and sovereign nations depend on high prices to maintain solvency – when for the third week in a row, inventories were "magically" lower than expected, mere hours after yet another OPEC failure caused prices to plunge.  This time, below the ad hoc "oil PPT's" blatantly obvious "line in the sand" at $45/bbl, which it has fiercely defended all year.  Frankly, the American Petroleum Institute, or API, data, is starting to look every bit as fraudulent as the ADP jobs data.  That is, the so-called "privately compiled" oil inventory data released every Tuesday evening, before the publicly compiled Department of Energy data each Wednesday morning.  Just like the ADP, or Automated Data Processing, jobs data, which is reported two days before the BLS, or Bureau of Labor Statistics' payroll data, on the first Friday of each month.

To that end, with each passing day, the line of demarcation between "private" and "public" data is blurring further, as all related parties are clearly incented to report "better than expected" data, no matter what reality depicts.  I mean, that's what "seasonal adjustments, "double seasonal adjustments," and "birth/death models" are for, right?  Heck, the BLS' birth-death model alone has been responsible for more than 50% of all "jobs" created since the financial crisis, despite the rate of small business formation, which is the entire premise behind its existence, being net negative over this period.  Unquestionably, the culmination of this ongoing "merger" between public and private compilation is best personified by the 2014 IPO of "Markit," a company that not only produces the widely-followed, but statistically insignificant, PMI diffusion indices for the U.S., but many other nations as well.  Which, in my view, is as "quasi-public" in the economic data generation arena as Fannie Mae and Freddie Mac were in housing.  And we all know how that turned out, huh?

Finishing my thought on the oil market, which as I write is trading slightly below the oil PPT's "line of demarcation" at $45, three hours before today's DOE report, it's quite amazing how many supply data points can be "better than expected" in a market so hopelessly oversupplied, the world's largest oil producers are having emergency meetings to discuss it.  In other words, like the Fed – which seemingly has "de facto policy statements" on a weekly basis now, in its relentless, accelerating efforts to jawbone increasingly "uncooperative" markets; the "oil PPT" is creating as many "propaganda opportunities" as possible, to try and talk up prices, when the underlying fundamentals are so painfully failing.  In this case – like the Fed, which spent four weeks hyping the September rate hike that never happened; the oil PPT spent four weeks suggesting a major production cut – or LOL, "freeze" – would occur at Algiers, which of course, didn't occur.  Or frankly, come even close to doing so.

And yet, just like the Fed – which unfailingly, commences the next "imminent rate hike" propaganda within days of failing to raise rates – the Saudi Minister concluded the Algiers boondoggle by claiming a production freeze deal was "possible" at the upcoming, bi-annual OPEC meeting in November.  As if a "freeze" would matter a whit in an historically oversupplied market, from record production levels, with at least three OPEC members claiming the right to be "exempt."  Which irrespective, would have the same real world impact on crude oil prices as a ¼ point Fed rate hike.  Which in both cases, are moot concepts either way – as neither will occur!

As for Deutsche Bank, in the aftermath of Angela Merkel's comment this weekend that the German state would not participate in a bailout – as if the public will for such an action even exists – "DB damage control" has been launched in full force, starting with yesterday's PPT "hail mary" rally at the NYSE open, just as the German-traded shares were about to go under the key psychological level of $10/share.  Which secondarily, would have ignited speculation regarding the imminent ignition of the company's hyper-dilutive "CoCo," or contingent convertible, bonds.

Next, in true "oil PPT" and Fed-like manner, a series of unsubstantiated "rumors" of ongoing "bail-out" discussions.  And last but not least, CEO Jon Cryan's "Dick Fuld moment" last night, in claiming Deutsche Bank is "comfortably equipped with free liquidity," with "no need for a capital raise."  Just as Dick Fuld, the CEO of Lehman Brothers, claimed in April 2008 that the "worst of the crisis is behind us," and "we have billions of highly liquid assets."  Geez.  If it weren't so sad – and catastrophically perilous to the entire world – one might even consider such idiocy humorous.

Last but not least, the Federal Reserve – which, as noted above, have become the undisputed kings of jawboning.  Which frankly, they must be, given how they've spent essentially all their monetary ammunition, and destroyed essentially all of their credibility – amidst an historic economic crash; anunprecedented debt explosion, in large part, due to the Fed's own, hyper-inflationary policies; historicU.S. Treasury divestment; and an election Hillary Clinton must win if Janet Yellen wants to keep her job.

Which is exactly what they'll try to do this morning, when Janet Yellen gives testimony to Congress – albeit, in this case, focused more on "supervision and regulation" than an actual economic outlook. Not to mention, after Whirlybird Janet speaks this morning, five other Federal Reserve governors and Presidents have speeches planned, for anyone that still doesn't realize how desperate the Fed is to get its latest "message" across.

So, how do these kings of manipulation play this one, given that it's nearly impossible to successfully implement damage control on a horse with a broken leg – let alone, two?  I mean, it was just one weekago when the Fed failed to raise rates, after spending an entire month emphatically suggesting it would do so.  And during that week, the economic data has measurably worsened – including this morning's ugly durable goods orders report; whilst oil prices have plunged, in the wake of the failed Algiers meeting; and oh yeah, the stock of Europe's largest bank has gone into freefall mode, amidst fears of an imminent bankruptcy.  Throw in the aforementioned election, which at this point can be best described as a dead heat; and lingering market fears of rising rates; and you can see how careful JY must be.  But hey, that's what her team of wordsmiths does, particularly when "accompanied" by history's most maniacal market manipulation.

That is, until such frauds and fabrications inevitably "run their course," and plunge into history's massive dustbin of failed efforts to corral "Economic Mother Nature."  Let alone, history's largest, most destructive fiat Ponzi scheme; which even the Fed's diehard, brainwashed Keynesians are starting to acknowledge – such as former Philadelphia Fed President Charles Plosser, who this very morning espoused that the Fed is "concerned about credibility," and "pretty good at conjuring up reasons not to act."

To that end, I'm not sure how much more emphatically I can plead for you to look at what's going on around you; decide what the most likely outcomes are – particularly those with, for all intents and purposes, mathematical certainty; and act to protect yourself, before it's too late.  And moreover, to give Miles Franklin the chance to earn your business, if such actions include the purchase and/or storage of physical Precious Metals.

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Gold Price Closed at $1319.40 Down $6.50 or -0.49%

Posted: 28 Sep 2016 05:22 PM PDT

28-Sep-16PriceChange% Change
Gold Price, $/oz1,319.40-6.50-0.49%
Silver Price, $/oz19.04-0.04-0.23%
Gold/Silver Ratio69.282-0.184-0.27%
Silver/Gold Ratio0.01440.00000.27%
Platinum Price1,021.90-2.90-0.28%
Palladium Price713.5013.351.91%
S&P 5002,171.3711.440.53%
Dow in GOLD $s287.333.141.10%
Dow in GOLD oz13.900.151.10%
Dow in SILVER oz962.997.980.84%
US Dollar Index95.340.020.02%
IMPORTANT NOTE: The following are wholesale, not retail, prices. To figure retail selling price, multiply the "ask" price by 1.035. To figure our retail buying price, multiple the "bid" price by 0.97. Lower commissions apply to larger orders, higher commissions to very small orders.
SPOT GOLD:1,322.50   
American Eagle1.001,355.561,366.801,366.80
1/2 AE0.50673.97697.621,395.24
1/4 AE0.25340.29355.421,421.69
1/10 AE0.10138.76144.811,448.14
Aust. 100 corona0.981,285.941,294.941,321.10
British sovereign0.24313.65326.651,387.64
French 20 franc0.19244.44248.441,330.70
Maple Leaf1.001,332.501,346.501,346.50
1/2 Maple Leaf0.50760.44694.311,388.63
1/4 Maple Leaf0.25337.24353.771,415.08
1/10 Maple Leaf0.10140.19144.151,441.53
Mexican 50 peso1.211,580.061,591.061,319.61
.9999 bar1.001,327.131,334.501,334.50
SPOT SILVER:19.23   
VG+ Morgan $B4 19050.7725.0027.0035.29
VG+ Peace dollar0.7720.0022.0028.76
90% silver coin bags0.7213,710.1313,996.1319.58
US 40% silver 1/2s0.305,479.635,629.6319.08
100 oz .999 bar100.001,902.501,937.5019.38
10 oz .999 bar10.00193.75198.7519.88
1 oz .999 round1.0019.0319.5319.53
Am Eagle, 200 oz Min1.0020.7322.2322.23
SPOT PLATINUM:1,021.90   
Plat. Platypus1.001,036.901,066.901,066.90

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Michael Savage's Last Interview Before Being Banned

Posted: 28 Sep 2016 03:55 PM PDT

 These were Dr. Michael Savages last interviews with Infowars before he was banned from radio. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

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The Petro-SDR: World Money Rising

Posted: 28 Sep 2016 01:04 PM PDT

This post The Petro-SDR: World Money Rising appeared first on Daily Reckoning.

The response to U.S. efforts to cheapen the dollar in 2010 — 2011 was not long in coming. It came from four directions — IMF, Russia, China, and Saudi Arabia. Enter the new world money: Petro-SDR.

Less than a year after Obama's declaration of a new currency war, the IMF released a paper that is a blueprint for implementation of a new global reserve currency called the Special Drawing Right (SDR), or world money.

On December 1, 2015, the IMF announced that the Chinese yuan would be included in the basket of currencies used to determine the value of one SDR. With China onboard, the SDR is poised to become the de facto global reserve currency.

China's and Russia's immediate response to the coming dollar collapse and rise of the SDR is to buy gold. (It's not yet possible to diversify heavily into SDR denominated assets because there are very few SDR assets available.) Russia has acquired over 1,000 tons of gold in the past seven years, and China has acquired over 3,000 tons of gold in the same time.

US Dollar Index

Combined Russian and Chinese gold purchases are over 10% of all the official gold in the world. China has also acquired billions of SDRs in secret secondary market transactions brokered by the IMF.

Saudi Arabia's response has been more subtle, but may be more dramatic in the end. Relations between Saudi Arabia and the U.S. have deteriorated sharply over the course of the Obama administration. The primary cause was the Iran-U.S. nuclear negotiations and what amounts to the U.S. recognizing Iran as the leading regional power.

In the past months, the U.S. ended the secrecy surrounding Saudi ownership of U.S. Treasury securities (in place since 1975). The U.S. also released a formerly top secret 28-page section of the 9/11 Commission Report that clearly reveals links between members of the Saudi royal family and the 9/11 hijackers and Al Qaeda.


Ed. Note: The chart covers major currencies only, while the Fed's broad index covers all trading partners. 

The Saudis have threatened to dump their U.S. Treasury securities in response to the release of the secret report, but so far that threat has not materialized.

Saudi Arabia is dealing from a position of weakness in relation to the U.S. Saudi Arabia is now running a fiscal deficit rather than a surplus, so the issue of where to invest reserves is moot. In fact, Saudi has been selling its reserves, mainly U.S. Treasuries, to cover its fiscal deficit.

The U.S. is no longer dependent on Saudi Arabia for energy supplies. It has become a net exporter of energy and has the largest oil reserves in the world. All of the conditions that gave rise to the petrodollar now stand in the exact opposite position of where they were in 1975.

Neither the U.S. nor Saudi Arabia have much leverage over the other, in contrast to 1975 when each side held powerful trump cards.

This does not mean that oil will be priced in a currency other than dollars tomorrow. It does mean that a new pricing mechanism is possible and no one should be surprised if it happens.

Saudi Arabia could easily price oil in yuan, then swap the yuan for Swiss francs or SDRs, and use the proceeds to add to its reserves or buy gold. Saudi Arabia could also price oil in SDRs or gold and hold those assets or swap them for other hard currencies to diversify away from dollars.

The possibilities are numerous. The conversion of oil prices away from dollars to some alternative is just a matter of time.

G20 2016 China

All of these trends — IMF support for SDRs, Russian and Chinese support for gold, and Saudi Arabia's search for a new benchmark for oil — came to a head in Hangzhou, China at the G20 Leaders' Summit, almost seven years to the day after the Pittsburgh G20 Summit that spawned the new currency war. China's President Xi is the President of the G20 for 2016, has made strides on the world stage as an equal partner with the U.S. in the management of the international monetary system.

Now, less than four weeks following the G20 Summit, the yuan will officially join the SDR. The yuan will make up over 10% of the SDR. From there, new issuance of world money (SDRs) will be supported by China because every time the IMF issues new SDRs, they will be expanding the role of the Chinese yuan as a reserve currency.

Gold, yuan, and SDRs all have one thing in common — they are alternatives to the dollar. As momentum toward these alternatives grows, the role of dollars as a reserve currency could diminish quite quickly — like sterling's role between 1914 and 1944. The result for dollar holders will be exactly the same as the result for sterling holders: inflation and lost wealth.

New political and financial arrangements, and new forms of energy, will no doubt emerge over time.

The key to wealth preservation is to move out of the declining form of money — dollars — and into the rising forms of money — gold and SDRs — sooner rather than later.


Jim Rickards
for The Daily Reckoning

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The post The Petro-SDR: World Money Rising appeared first on Daily Reckoning.

Is a Dollar Crash Imminent After the Senate Overrides Obama Veto on Saudi 9/11 Bill and September 30th D-Day Approaches?

Posted: 28 Sep 2016 12:08 PM PDT

Gold Stock Bull

U.S.A Death By China - Full Documentary

Posted: 28 Sep 2016 11:17 AM PDT

USA has spent at least 4-5 trillion on war since sept 911 A 20-21 trillion dollar debt , maybe if they stopped attacking other countries they'd have a chance Right now..with Hillary and trump..

George Soros’ False Flag Factories

Posted: 28 Sep 2016 11:00 AM PDT

Soros is just an overpaid errand-boy for a powerful group. I think the said group is from the City of London. And the corrupt and corrupting system itself allows the existence of groups like this. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists ,...

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Joel Skousen - Analysis First Trump~Clinton Debate

Posted: 28 Sep 2016 10:28 AM PDT

 Joel Skousen in The Jeff Rense Show, September 27, 2016. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

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The Russian Resurgence

Posted: 28 Sep 2016 10:16 AM PDT

This post The Russian Resurgence appeared first on Daily Reckoning.

U.S. relations with Russia have run hot and cold for the past ten years.

In March 2009, shortly after the Obama administration first came into office, Hillary Clinton met with Russian Foreign Minister Sergei Lavrov in Geneva. It was her first meeting with Lavrov since Clinton had become secretary of state.

Relations between Russia and the United States had been under stress because of Russia's invasion of Georgia in 2008 during the George W. Bush administration. Obama and Clinton wanted to reset the relationship and move into a less adversarial posture.

As a goodwill gesture, Clinton asked her aides to create a large red reset button (similar to the "easy" buttons used in the old Staples advertising campaign) with the word "reset" in Russian. The button was put in a case and presented to Lavrov as a gift at the Geneva summit.

There was only one problem. State Department experts used the Russian word "перегрузка" on the button for the English "reset." Lavrov looked at the gift and politely informed Secretary Clinton that перегрузка actually means, "overcharge." Oops.

Clinton and Lavrov pushed the button anyway for the cameras. Russian-U.S. relations have been downhill ever since.

When Obama and Clinton came into office, the President of Russia was Dmitry Medvedev. At the time, Vladimir Putin was Prime Minister. Putin had been president from May 2000 to May 2008, but was subject to term limits. Medvedev and Putin simply switched roles with Medvedev becoming president and Putin becoming prime minister.

Technically this made Medvedev the chief executive and commander-in-chief in Russia. Yet, few doubted that Putin still controlled Russia from his slightly subordinate position.

This de facto relationship was confirmed in May 2012 when Putin again assumed the role of president. Medvedev stepped aside and assumed his former role as prime minister. It was a complicated game of musical chairs, which gave Putin the presidency until at least 2020.

Nevertheless, Obama and Clinton found Medvedev (who was president in 2009) to be more to their liking than Putin. Medvedev is more diplomatic and has a more global outlook than Putin, who is a staunch Russian nationalist. From 2009 to 2011, Russian – U.S. relations warmed slightly, notwithstanding the red button gaffe.

In 2012, Russian-U.S. relations were again strained due to U.S. plans to put an anti-missile shield in Poland. During the 2012 U.S. election cycle, Obama distanced himself further from Russia because he was appealing for ethnic votes from anti-Russian Poles, and other Eastern Europeans living in the U.S.

Still, Obama wanted to keep lines of communication open and looked forward to diplomatic deals with Russia. On March 26, 2012, just seven months before the U.S. election, Obama was caught on camera at a summit conference whispering to Medvedev that he would have "more flexibility" after the election. Medvedev promised to pass that message to Putin who was about to replace Medvedev as president.

Russian-U.S. relations had another thaw early in 2013 after Obama's reelection, but it was short-lived. On the night of November 21, 2013, demonstrations broke out in Independence Square (Maidan Nezalezhosti) in Kiev against the Russian-backed government of Viktor Yanukovych. The protests peaked in February 2014. Yanukovych and his cronies fled the Ukraine.

Putin suspected that the Maidan protests were secretly funded by the British intelligence agency MI6, and the CIA. In order to secure Russian interests in Ukraine, Putin invaded Crimea, and began supporting anti-Kiev ethnic Russians in eastern Ukraine. In response, the U.S. and its NATO allies imposed harsh economic sanctions on Russia.

The sanctions included a ban on major Russian companies (such as Gazprom and Rosneft) refinancing their euro-denominated debt in western capital markets. Since Russian companies could not refinance their debts, they began to draw on central bank hard currency reserves to retire the debt. In turn, this began to deplete Russia's reserves and force higher interest rates and a devaluation of the ruble.

The ruble sank like a stone beginning in March 2014. It fell from about 28 rubles to the dollar to 70 rubles to the dollar by early 2015 when relations were at their worst. (On an inverted RUB/USD scale, this fall would be from $0.035 to $0.014).

The ruble regained some strength to the 50:1 level ($0.020) when it became clear that the Russian economy, although weakened, was more resilient than U.S. financial warriors had expected.

Then Russia got whacked a second time with the collapse in oil prices. This collapse began in mid-2014 around the time of the Ukraine crisis. It reached its most intense phase in mid-2015 when oil fell below $40 per barrel on its way to $29.00 per barrel by early 2016.

Russia is the world's third largest oil producer (after the U.S. and Saudi Arabia), and second largest oil exporter (after Saudi Arabia). The damage to the Russian fiscal situation was immediate and led to a recession in the world's ninth largest economy.

This second blow to the Russian economy pushed the ruble to 81:1 ($.012) by January 2016. The Russian economy was in crisis.

Then a confluence of factors emerged to cause a rally in the ruble and a turnaround in the Russian economy. Here's where they stand today:

  • Despite recent volatility, oil prices are staging a rebound. From a low of $29.00 per barrel, they are over $44.00 per barrel today. This is a major lifeline for Russia.
  • Iran is now open for business after concluding a nuclear deal with the U.S. Many U.S. and European companies are reluctant to re-enter the Iranian market because there is still ambiguity about the scope of sanctions relief. Russia has no such reluctance. They are moving ahead with deals in nuclear power, weapons, refineries, and other infrastructure.
  • The cheap ruble actually helped Russian companies keep expenses under control, and convert dollar earnings into more rubles to pay local operating costs. This has bolstered the earnings of major Russian companies.
  • The Central Bank of Russia has been aggressively buying gold with its dollar reserves. This was a brilliant strategy. They bought gold when the dollar was strong and gold prices were near seven-year lows. The dollar strengthened recently but should now enter another weakening phase. With the dollar weakening and gold holding firm above $1,300 Russian gold reserves (priced in dollars or SDRs) should get a boost.
  • With a weaker dollar, other commodity prices should rise. Russia is a major exporter of nickel, palladium, iron and timber.
  • U.S. allies, especially Germany and France, are growing tired of the sanctions regime, and are looking for opportunities to get back to business as usual with Russia.

In short, all of the factors that were working against Russia from 2014 to 2016 (cheap oil, strong dollar, sanctions, and low commodity prices) should now work in Russia's favor.

From the perspective of a U.S. investor, the Russian stock market offers two ways to win big. The first is a fundamental rebound in the Russian economy. The second is a stronger ruble, which means that the dollar price of Russian stocks goes up even faster than the ruble price if the currency is unhedged.

The mainstream media would have you believe Russia is a basket case. It really isn't, and smart investors see strong opportunity.


Jim Rickards
for The Daily Reckoning

Ed. Note: Sign up for your FREE subscription to The Daily Reckoning, and you'll receive regular insights for specific profit opportunities. By taking advantage now, you're ensuring that you'll be financially secure for the future. Best to start right away – it's FREE.

The post The Russian Resurgence appeared first on Daily Reckoning.

Book Review: The Death of Money

Posted: 28 Sep 2016 09:31 AM PDT

This post Book Review: The Death of Money appeared first on Daily Reckoning.

Book Review: The Death Of Money – The Coming Collapse of the International Monetary System by James Rickards.

Book Review The Death of Money

Jim Rickards book The Death Of Money came out in April 2014. Since then, his inquiry of research and economic analysis has given light to the international monetary system that continues to be just as important today.  The book holds strong as a bestseller in economics and foreign exchange.

Below is a visual review of Rickards' book with insightful commentary. While Wright might have an off-take on the cover title and an alternative suggestion, his review of Rickards’ groundbreaking work is spot on.  He offers a video review with style on a book that is worth its weight in gold.

Nick Wright has a fantastic video review of the book and the International Monetary System it covers here.

If you are interested in reading more check out The Death of Money find it here.


Craig Wilson
for the Daily Reckoning

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The post Book Review: The Death of Money appeared first on Daily Reckoning.

Koos Jansen: How constant is gold's purchasing power?

Posted: 28 Sep 2016 08:00 AM PDT

11a ET Wednesday, September 28, 2016

Dear Friend of GATA and Gold:

Reviewing gold's purchasing power through history, gold researcher Koos Jansen concludes today that it is "remarkably constant" and that "if the current fiat international monetary system will breach its limits and has to be re-anchored to gold, I expect gold to become more constant in both the short- and medium term when providing a center pillar in finance." Jansen's analysis is headlined "How Constant Is Gold's Purchasing Power?" and it's posted at Bullion Star here:

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


Sandspring Resources Commences 2016 Exploration Campaign

Company Announcement
August 17, 2016

Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.

In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.

For the remainder of the announcement and highlights of the 2015 drill program:

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

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:

Will Deutsche Bank’s Collapse Be Worse Than Lehman Brothers?

Posted: 28 Sep 2016 07:37 AM PDT

Few analysts noted it, but the $USD actually staged its second strongest day of the year the Friday before last. The only other day in which the $USD rallied more was on the day of BREXIT, a black swan event that featured EXTREME currency volatility.

Gold miner Petropavlovsk turns first profit since 2012

Posted: 28 Sep 2016 05:25 AM PDT

By Jon Yeomans
The Telegraph, London
Wednesday, September 28, 2016

Russia-based gold miner Petropavlovsk has posted its first profit since 2012, as it looks to move on from a torrid few years.

Petropavlovsk reported a pre-tax profit of $4.8 million in the six months to June, against a loss of $26 million for the same period a year ago. Revenue slipped 14.5 percent to $254 million as gold production fell after poor weather in the Amur region of Russia where it mines.

The company nearly went bust in 2015 but now expects to close a refinancing deal with its creditors next month that will extend its debt repayment schedule to 2022. Petropavlovsk borrowed heavily this decade to fund expansion, only to be hit by a downturn in gold prices. In the first half of the year it slashed $12.4 million from its debt pile, bringing it down to $598 million.

Chairman Peter Hambro, a City veteran, said: "It's been a long struggle, but even a small profit is better than what we had in the past." ...

... For the remainder of the report:


NewCastle Gold's New CEO, Gerald Panneton, Hits the Ground Running

By Tommy Humphreys
Tuesday, September 6, 2016

Mining entrepreneur Gerald Panneton took a few years off after building one of Canada's largest gold miners, Detour Gold. He raced performance cars in his down time, and conducted due diligence on various mining assets to potentially back.

This summer, the geologist set his sights on NewCastle Gold (TSXV:NCA), owner of a past-producing gold mine in California with similarities to Detour Gold in its early days. ...

... For the remainder of the report:

Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana

Help GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

Or by purchasing a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

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:

The Central Bank Next Move, Distribute Currency To The Public Directly:Lior Gantz

Posted: 28 Sep 2016 05:00 AM PDT

 Today's Guest: Lior Gantz The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

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Behind The Spot Price of Gold - Nico Simons

Posted: 28 Sep 2016 04:00 AM PDT

Sprott Money

Massive Chinese Debt And Why They Are On A Gold Buying Binge!

Posted: 28 Sep 2016 03:51 AM PDT

China’s debt is a staggering $24 trillion with 247% of annual GDP as of last year, which is, in fact, an increase of an astounding 465% within a decade. The total borrowing by both the financial and non-financial sectors was only 78% of the GDP in 2007 and has since increased to 309% of GDP according to economists at Nomura Holdings Inc. led by Yang Zhao and Wendy Chen.

Gold miner Petropavlovsk turns first profit since 2012

Posted: 28 Sep 2016 02:32 AM PDT

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

Top Ten Videos — September 28

Posted: 27 Sep 2016 05:01 PM PDT

The lithium boom is here. Some good stuff from Peter Schiff and David Stockman. Lots more on gold, inflation and the US election.                       

The post Top Ten Videos — September 28 appeared first on

Gold Bullion 'Vulnerable' Below $1335 as US Fed & Euro Interest-Rate Policies Challenged

Posted: 27 Sep 2016 05:00 PM PDT

Gold bullion held in a tight range Wednesday morning in London, trading $10 below the previous 3 sessions' floor of $1335 per ounce as European stock markets rose and government bonds eased back ahead of a raft of central banker...

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