Tuesday, December 27, 2016

Gold World News Flash

Gold World News Flash


Gold Downtrend Tactics: Keep Stoplosses Tight

Posted: 27 Dec 2016 06:00 AM PST

Gold to silver to bonds to mining stocks (charts).

India's Demonetization Debacle Highlights The Dangers Of Monetary Monopoly

Posted: 26 Dec 2016 07:00 PM PST

Submitted by Mike Krieger via Liberty Blitzkrieg blog,

As longtime readers know, I believe we are at the beginning stages of what will be historical paradigm level change across the planet. We sit on the precipice of the self-destruction of almost all the dominant institutions we’ve been accustomed to throughout our lifetimes. To borrow a bit of played out and painfully clich├ęd Silicon Valley lingo, everything is on the table for “disruption.”

Naturally, this doesn’t necessarily mean the paradigm that follows the current one will be materially better, but I am personally optimistic about what will emerge following a period of considerable confusion, hardship and conflict. In order to tilt the scales toward a positive outcome, those of us who wish to usher in a world characterized  by human freedom, decentralization, self-government and kindness, need to recognize the most likely avenues we have to get there. Technology is obviously extremely important, as a recent move by Whisper Systems to thwart censorship demonstrates.

As Wired reported last week:

Any subversive software developer knows its app has truly caught on when repressive regimes around the world start to block it. Earlier this week the encryption app Signal, already a favorite within the security and cryptography community, unlocked that achievement. Now, it’s making its countermove in the cat-and-mouse game of online censorship.

 

On Wednesday, Open Whisper Systems, which created and maintains Signal, announced that it’s added a feature to its Android app that will allow it to sidestep censorship in Egypt and the United Arab Emirates, where it was blocked just days ago. Android users can simply update the app to gain unfettered access to the encryption tool, according to Open Whisper Systems founder Moxie Marlinspike, and an iOS version of the update is coming soon.

 

Signal’s new anti-censorship feature uses a trick called “domain fronting,” Marlinspike explains. A country like Egypt, with only a few small internet service providers tightly controlled by the government, can block any direct request to a service on its blacklist. But clever services can circumvent that censorship by hiding their traffic inside of encrypted connections to a major internet service, like the content delivery networks (CDNs) that host content closer to users to speed up their online experience—or in Signal’s case, Google’s App Engine platform, designed to host apps on Google’s servers.

It goes without saying how critical technology such as the above, combined with dedicated activists such as Moxie Marlinspike, will be to making the world a better place. Beyond that, we also need to understand what our adversaries will do. I define such adversaries as the defenders of the status quo, who will do whatever it takes to retain power and influence in the face of their increasing irrelevance. As it becomes more and more obvious to people that these legacy institutions have become so corrupt and bureaucratic that they do far more harm than good, their leaders are likely to resort to more and more authoritarian tactics in order to defend their untenable position. This is where we need to see opportunity as opposed to cowering in fear.

We are on the right side of history, while the old institutions are simply living on borrowed time. We must be smart about how we see the world and understand that Donald Trump is likely to react to such a situation quite similarly to a Barack Obama. Whoever’s in charge of the government will by definition work to preserve the power of government as opposed to the liberty of the citizenry. This goes for pretty much every political leader and government worldwide. As such, we must assume government will lash out in increasingly irrational and authoritarian ways in the coming years, as the old paradigm becomes unglued.

As I mentioned earlier, when a government reacts in an absurd and harmful way, we need to see this for the opportunity it presents as opposed to becoming overcome with fear concerning its inevitable near-term harm. A perfect example is the recent extremely destructive decision by Indian Prime Minister Narendra Modi to unilaterally scrap old 500 and 1,000 rupee notes, which merely represents a particularly egregious move within a broader push by elitist and status quo bureaucrats across the world to ban cash. As disruptive as this move has been, it also carries with it a significant silver lining. For example, it’s causing us to ask the really big questions we need to be asking.

As R. Jagannathan wrote earlier today in Swaraja Magazine, where he is the editorial director:

A philosophical question that economists need to answer after Lehman, zero-interest money, QEs, and demonetisation (in our case) is whether central banks ought to have that kind of monopoly over money.

 

Most free-market economists would agree that monopolies are bad, but they do not usually challenge the state’s monopoly over violence and law-making or the central banks’ monopoly over the issue and regulation of currency.

 

Leaving aside the state’s monopoly on some kinds of power, let’s ask whether a central bank’s money monopoly is worthwhile since it does not appear to have delivered the kind of benefits to the world in recent decades which can justify the conferment of a monopoly.

 

The fundamental reason why we have grown to love (or learned to live with) central banks is that we cannot remember a time when they did not exist. So the argument is better the devil you know…

 

But consider their track record…

 

The US Fed could not prevent or even moderate the 1930s depression. It took a world war to rescue the US economy from deflation.

 

The US government (and the Fed) reneged on their most important commitment – to link the dollar value to gold – in 1971. This link was crucial to getting the world to accept payment in US dollars. But once that got done, the US did not want to honour its commitment since this was costing it a bit. In short, central banks cannot always be trusted.

 

“Independent” central banks were never able to prevent governments from debasing the currency by resorting to huge fiscal deficits. So they could not maintain the exchange values of their currencies without creating hardships for their people.

 

Central banks have been particularly bad at predicting when money was too cheap or too expensive – the main job they are supposed to do – and we have seen that in bold relief post-Lehman, and with the ongoing Eurozone crisis and Japan’s never-ending stagflation.

 

In India, we were happy to assume that for Reserve Bank of India (RBI) governor Raghuram Rajan brought inflation down, but this is a story we concocted after noting that the man was talking a lot about inflation. We presumed that what he did must have helped inflation come down, but we can never be sure. But his predecessor D Subbarao spent five years chasing down both inflation and disinflation (pre-2008, post-2008, and post-2011-12) and was considered “behind the curve” on policy. As if one human being can predict the net outcomes from the individual actions of a billion-and-a-quarter people responding to inflation or deflation.

 

And now we have a new Governor, Urjit Patel, taking the flak for a decision he was only partially involved in – demonetisation.

 

But the real question to ask of Urjit Patel and the government that appointed him is not whether demonetisation was a good idea or whether it has been implemented badly, but whether either government or the central bank should have had this monopoly power at all?

 

That Patel and the Modi government are being attacked both by Left and Right for demonetisation leads us to a larger and more basic question: Could demonetisation have happened if the Indian state did not have a monopoly in central banking, and there were several money issuers vying for the citizen’s custom?

 

The answer is probably no, for it is only monopoly that assures central banks this kind of power. If India had another currency issuer, the RBI could not have demonetised the currency in one go. It would have had to announce a plan, and take the bad money out in stages.

 

But the central bank’s monopoly is really a consequence of the state’s monopoly on law-making and power. This is why states, despite being at odds with their central banks on the short-term direction of monetary policy, are equally keen to let them retain their money monopoly.

 

In the US, a private player launched a gold-based currency called e-Gold, but when it grew big enough, the powers-that-be had it wound up. Launched in 1996, e-Gold, founded by Douglas Jackson, allowed account-holders to make cash transfers to other e-Gold account-holders through its website. At its zenith, e-Gold was said to be handling more than $2 billion worth of annual transactions. (Read more about e-Gold here and here).

 

But governments can’t stand a rival who challenges their own right to mint currency, and so in 2009, e-Gold was shut down, ostensibly because it did not have a licence to transfer money. The Patriot Act, enacted after 9/11, gave the US government powers to do this.

 

The 21st century will challenge the idea of the state and its monopoly powers, but Step One in that process is whether central banks should have a monopoly on money.

 

The answer is no. Competition will be good even in the business of creating money and managing its ebbs and flows.

All of this reminds me of something I wrote recently with regard to the self-implosion of mainstream media in the post, ‘Then We Will Fight in the Shade’ – A Guide to Winning the Media Wars:

It is when you get desperate, scared and panicky that you make the biggest mistakes, and the legacy media is currently desperate, scared and panicky.  As Napoleon Bonaparte allegedly said:

 

“Never interrupt your enemy when he is making a mistake.”

 

We mustn’t get in the way of the legacy media’s inevitable self-destruction. Part of this means that we do not self-destruct in the process. We need to recognize that there’s a reason independent, alternative media is winning the battle of ideas in the first place. For all the warts, mistakes and bad actors, the emergence of the internet is indeed the historical equivalent of the invention of the printing press on steroids.

The same mindset and strategy should be applied to the state as well. One thing I’m relatively certain of, is that as economies continue to decay under the weight of the status quo way of doing things, the incredibly corrupt men and women in charge of our dominant institutions will flail from one destructive, authoritarian action to the next. We must expect this and prepare to respond.

Technology will do its part by providing the necessary tools to transition from one paradigm to the other, but equally important will be winning the narrative when it comes to the 7 billion people inhabiting the planet. This is where websites such as Liberty Blitzkrieg and others will play an increasingly significant role in pointing out and articulating the harmful, irrational and destructive nature of the status quo response to challenges that arise. In this way, we can be sure to win the battle of ideas, which will be crucial to successfully ushering in a new age of human freedom, creativity, opportunity and progress.

Peru's president proposes dredging reservoirs for gold

Posted: 26 Dec 2016 05:12 PM PST

By Mitra Taj and Marco Aquino
Reuters
Monday, December 26, 2016

President Pedro Pablo Kuczynski proposed dredging a reservoir in a dry northern region of Peru to extract what he described as "much more gold" than what the country's biggest gold mine holds, according to an interview with a local newspaper.

Kuczynski said Poechos, Peru's biggest reservoir and a key source of water for drinking and farming in the northern Piura region, could hold one gram of gold per cubic meter in 580 million cubic meters of sediment.

"It has to be dredged," Kucyznski said in a videotaped interview with financial daily Gestion. ...

Kuczynski said the sediment could be removed from Poechos for five or six years to extract its gold before letting it accumulate again for 20 years, a repeatable process that he said would make it "the only mine in the world that's renewable."

Kuczynski, a former investment banker who once managed a mine in West Africa for Alcoa Corp, said the same model could be used in another reservoir in Peru, Olmos, which Brookfield Infrastructure Partners LP recently bought from Brazilian builder Odebrecht. ...

... For the remainder of the report:

http://www.reuters.com/article/us-peru-economy-growth-idUSKBN14F142



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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:

https://finance.yahoo.com/news/sandspring-resources-commences-2016-explo...



Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Avery Goodman: Gold advocate, Fed foe under consideration for Cabinet position

Posted: 26 Dec 2016 04:30 PM PST

7:30p ET Monday, December 26, 2016

Dear Friend of GATA and Gold:

Market analyst Avery Goodman writes tonight that a gold standard advocate and supporter of ending the Federal Reserve remains in consideration for a Cabinet post in the Trump administration and maybe even for the chairmanship of the Fed. Goodman's report is headlined "Strong Gold Standard Advocate Still Considered for Top Cabinet Position" and it's posted at Goodman's internet site here:

http://averybgoodman.com/myblog/2016/12/26/strong-gold-standard-advocate...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



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Canadian Government Issues Key Water License
for Seabridge Gold's KSM Project in British Columbia

Company Announcement
Monday, November 21, 2016

TORONTO -- Seabridge Gold Inc. (TSX: SEA) (NYSE:SA) announced today it has received a license from the Government of Canada required for the construction, operation, and maintenance of the water storage facility and associated ancillary water works at its 100 percent-owned KSM Project in northwestern British Columbia.

The license, as authorized within the International Rivers Improvement Act, regulates all structures and activities situated on transboundary waters shared with the United States that have the potential to affect water quality and quantity. The Water storage facility and its ancillary water works (water diversion ditches and tunnels) are the primary water management control systems for the KSM Project. These facilities separate water that has not contacted mined material from so-called contact water originating from disturbed areas of the mine site and then contain the contact water prior to treatment and eventual release to the receiving environment.

These facilities are situated on Mitchell and Sulphurets creeks, tributaries of the transboundary Unuk River system that flows into Alaska. The license was granted for a term of 25 years under the International Rivers Improvements Regulations as administered by Environment and Climate Change Canada. ...

... For the remainder of the announcement:

http://seabridgegold.net/News/Article/642/federal-government-issues-key-...



Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Gold’s year in a nutshell

Posted: 26 Dec 2016 04:22 PM PST

USA Gold

Anonymous - Christmas Warning YOU are being Distracted!

Posted: 26 Dec 2016 04:00 PM PST

 What if the real problems are hidden from you, and the brainwashing machine is at full swing?We are Anonymous.We are Legion.We do not Forgive.We do not Forget.Expect us. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free...

[[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://www.figanews.com for full links, other content, and more! ]]

ANONYMOUS - The NEW WORLD ORDER Plan EXPOSED & Martial Law IS HERE

Posted: 26 Dec 2016 03:00 PM PST

 Anonymous Updates presents to you 'The new world order agenda's plans for 2017 exposed. U.S martial law.' The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and...

[[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://www.figanews.com for full links, other content, and more! ]]

End Times Headline News - December 26th, 2016

Posted: 26 Dec 2016 01:00 PM PST

Short news day but highly prophetic as Israel fights for its right to exist. The Bible is so right at every level.News from around the world! The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists ,...

[[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://www.figanews.com for full links, other content, and more! ]]

STOCK MARKET will COLLAPSE in 2017! Global Reset Coming! NEW WORLD ORDER has begun!

Posted: 26 Dec 2016 11:30 AM PST

 FINANCIAL CRISIS 2017 has begun! How to protect your money! Important News!! How to survive on 2017 event! Gold Tips! Very important Information! Please take a look and Share... Share... because this video must be shared with max number of people! make your part now, please share it! Because...

[[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://www.figanews.com for full links, other content, and more! ]]

ALERT -- "Super Typhoon Nock-Ten Smashes The Philippines"

Posted: 26 Dec 2016 11:00 AM PST

 Super Typhoon Nock-Ten smashes the Philippines 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://financearmageddon.blogspot.com http://www.figanews.com for full links, other content, and more! ]]

Jan Skoyles: Will blockchain serve gold investors or just government gold vaults?

Posted: 22 Dec 2016 08:52 AM PST

11:52a ET Thursday, December 22, 2016

Dear Friend of GATA and Gold:

GoldCore's Jan Skoyles writes today that attaching "blockchain" technology to gold transactions and vaulting does not necessarily accomplish much for gold investors, especially when a government is holding the gold for its nominal owners.

Skoyles writes: "So when we invest in gold, it flummoxes me why many people choose to do so with the help of the very system that has created the need to hold safe-haven assets -- for example, gold and silver. Why place your gold in the custody of a heavily indebted national government?"

Skoyles' commentary is headlined "Royal Mint and CME to Make a Mint on the Blockchain?" and it's posted at GoldCore here:

http://www.goldcore.com/us/gold-blog/royal-mint-cme-make-mint-blockchain...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



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Market Analyst Fabrice Taylor Expects K92 Shares to Rise
as Company Commences Gold Production and Gains Cash Flow

Interviewed on Business News Network in Canada, market analyst and financial letter writer Fabrice Taylor said shares of K92 Mining (TSXV:KNT) are likely to rise, even amid declining gold prices, because the company has begun producing gold at its mine in Papua New Guinea:

http://www.bnn.ca/video/fabrice-taylor-discusses-k92-mining~1008356

Taylor cited the company's announcement here:

http://www.k92mining.com/2016/11/6114/



Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

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