Gold World News Flash |
- Updated silver lawsuit IDs Morgan trading mechanisms, traders, 'spoof' trades
- Gold Seeker Weekly Wrap-Up: Gold and Silver Fall a Little Over 2% on the Week
- By the Numbers, Week Ending September 16
- Bill Ackman's HKD Revaluation Trade As Predicted By Deutsche Bank In 2010... And Why DB Thinks It Is Wrong
- Bill Ackman's HKD Revaluation Trade As Predicted By Deutsche Bank In 2010... And Why DB Thinks It Is Wrong
- Donald Trump Takes 3 Kilos of Gold as Office Space Security Deposit
- Bloomberg Warns of Riots: “The Public Knows There’s Something Wrong In This Country” *Audio Interview*
- Updated Silver Lawsuit Identifies Morgan Trading Mechanisms, Traders, “Spoof” and “Fake” Trades
- What a Major Banking Crisis Would Do To the Gold Price
- Run to Safety
- Why the Gold Price is So High?
- Once Apon a Time
- Gold Price Closed Today at 1,812.10
- Names of JP Morgan Silver Manipulators Are Disclosed
- Ian Campbell?s Commentary: More on Gold!
- Northern Gold Mining Inc. Announces Completion of $10,870,471 Non-Brokered Private Placement
- Operation: World Bailout
- SocGen's 6 Easy Charts On What Happens To Gold And Stocks Under "QE2.5"
- SocGen's 6 Easy Charts On What Happens To Gold And Stocks Under "QE2.5"
- BREAKING: Identities of JP Morgan Silver Manipulators Exposed
- Dead Men Don’t Spend
- Gold Triangle Remains Favored Pattern
- Gold and the Future
- Must-Listen Interview On The Global Physical Gold Market
- Gold Daily and Silver Weekly Charts - Antics Abounding
- Liquidation, Drones, Strippers
- CHART OF THE DAY: FINALLY, Investment Advisors Are Capitulating And Buying Gold
- Warning for Americans: Be Safe and Stay Alert. It’s coming.
- LGMR: ECB Dollar Move Not "Killer Package" to End Crisis
- Fall 2011: Gold Breakout Season
| Updated silver lawsuit IDs Morgan trading mechanisms, traders, 'spoof' trades Posted: 16 Sep 2011 04:31 PM PDT 1:33p ET Friday, September 16, 2011 Dear Friend of GATA and Gold (and Silver): An updated complaint in the class-action lawsuit against JPMorganChase alleging manipulation of the silver futures market, filed this week in U.S. District Court for the Southern District of New York, details the mechanisms of the manipulation and some of the traders executing it. According to the updated complaint: -- MorganChase already had a large short position in silver when it acquired another large short position upon the investment house's acquisition of the failed New York brokerage Bear Stearns in 2008. This, the complaint says, gave MorganChase hugely disproportionate influence in the silver market. -- MorganChase used "fake" and "spoof" trades to manipulate prices downward, particularly in advance of contract expiration dates, when MorganChase held put options, which became more valuable as the price of silver was driven down. -- MorganChase reduced its short position following the May 25, 2010, hearing of the U.S. Commodity Futures Trading Commission, in which complaints of gold and silver market manipulation figured heavily. (GATA Chairman Bill Murphy and board member Adrian Douglas testified at that hearing and presented a statement by a London silver futures trader, Andrew Maguire, detailing market manipulation he had witnessed.) -- MorganChase regularly engaged in uneconomic trading activity in silver whose only purpose was price manipulation. -- The CFTC received a detailed complaint about silver market manipulation from a "whistleblower" (this is presumably Maguire). --Market circumstances during the period of manipulation alleged by the lawsuit were much different from the circumstances previously investigated by the CFTC when it concluded that there had been no manipulation. While these are all only allegations, the silver price manipulation case against MorganChase is now extensively detailed with names of participants, specific actions and their dates, and identities of participants. Market experts no doubt will find much more of signifance in the consolidated complaint. King World News has just published a summary of the consolidated complaint here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/16_Id... The full complaint can be found at GATA's Internet site here: http://www.gata.org/files/ConsolidatedSilverClassActionComplaint-09-12-2... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Prophecy Platinum Drills 49.5 Meters Grading 1.27 g/t PGM+Au at Yukon Wellgreen Project Company Press Release Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) announces results from its 2011 drilling program for its first completed hole on the Wellgreen Project in the Yukon Territory, Canada. Borehole WS11-184 encountered 472.6 meters of mineralization grading 0.43% nickel equivalent from surface to the footwall contact. Within this larger swath of mineralization the hole encountered 49.5 meters of 1.27 grams per ton platinum group metals plus gold, 0.71% nickel, and 0.45% copper (or 1.11% nickel equivalent). The geology transitioned from blebby disseminated to net-textured to massive sulphide approaching the footwall contact grading 6.3% nickel, 1.7% copper, 2.7 grams per ton platinum, 1.6 grams per ton palladium, 0.17 grams per ton gold, and 3.4 grams per ton silver. The drilling zones and results are tabulated here, with more information: http://www.prophecyplat.com/news_2011_aug22_prophecy_platinum_wellgreen_... Join GATA here: The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 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 Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: 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: ADVERTISEMENT Be Part of a Chance to Discover Multi-Million-Ounce Gold and Silver Deposits in Canada Northaven Resources Corp. 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| Gold Seeker Weekly Wrap-Up: Gold and Silver Fall a Little Over 2% on the Week Posted: 16 Sep 2011 04:00 PM PDT Gold fell almost 1% to as low as $1762.30 in Asia, but it then rallied back higher throughout most of trade in London and New York and ended near its late session high of $1821.44 with a gain of 1.86%. Silver surged to as high as $40.892 and ended with a gain of 3.02%.
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| By the Numbers, Week Ending September 16 Posted: 16 Sep 2011 03:16 PM PDT Just below is this week's closing table, followed by the CFTC disaggregated commitments of traders (DCOT) recap table for the week ending September 16, 2011.
Continued… Comments: Gold and silver correcting. Gold and silver down for the week in all fiat currencies, but gold down more in Euro than in USD. Positive money flow into gold and silver ETFs suggests modest dip buying. Big Sellers of futures took advantage of weakness to cover or offset some shorts, but not a huge amount. Mining shares, big and small, answer gold and silver lower, but do not oversell. US dollar correcting after the CHF surprise the previous week. ICE commercial traders jump all over the short side of the greenback, adding a whopping 15,042 contracts on the short side of the dollar. Ted Spread higher and reflects heightened bank to bank worry, a troubling sign for world equity markets. Lower highs and lows for gold, but mid-range closes for both suggests indecision. Hi-lo spreads contract on the selloff, suggesting less than robust selling pressure. Falling open interest on the gold selloff suggests liquidation is underway, but Big Sellers willing to cover shorts rather than press them.
All of the trader's positions are calculated net of spreading contracts as of the Tuesday disaggregated COT report.
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| Posted: 16 Sep 2011 02:46 PM PDT Following recent disclosure that Bill Ackman's latest so-called 'slam dunk' idea is a bet on a revaluation of the Hong Kong dollar (as described here), it is interesting to see what someone like Deustche Bank's Mirza Baig thought precisely about the trade that Ackman is proposing as some unique concept (in 151 pages no less) as long ago as November 2010. To wit: "Public complaints against inflation are already loud, and may intensify if the reflationary tide swells further. This could turn up the heat on the authorities. Since 1983 when the current regime was adopted, Hong Kong has experienced CPI inflation as high as 12% and deflation as low as -6%. The current inflation rate of roughly 3% looks benign in this context. In 2008 when inflation crossed 5%, the public debate on monetary policy became more intense, but Hong Kong ultimately braced the peg. In short, we feel the situation will have to become far more extreme, and other policy tools prove ineffective before authorities capitulate and allow a revaluation of HKD. At present, the probability of this scenario is low, in our view. This is why we noted earlier that we expect the reval trade to attract more interest from offshore investors, and possibly reach blow-out levels by the middle of [2011]." And after highlighting the Ackman's trade from 10 months later, DB concludes that "[t]he more likely scenario is that Hong Kong will attempt to ride out the reflation tide with its current policy. The public would gradually move to using RMB for payments, and the HKD would fall into relative disuse. Once China's capital account is sufficiently open (5-10 years later), Hong Kong would endorse the shift towards China through a formal peg vs. RMB at the then prevailing exchange rate (i.e. without any revaluation)." As for the merit of the actual trade, Ackman's point is that Asian, and specifically Hong Kong inflation will simply get out of control. Yet in that same case, is a simple bet on gold not more profitable? After all, when it comes to politically regulated markets, empirical evidence demonstrates that centrally planned monetary regimes will do everything but what is most logical (especially when it is far easier to simply intervene in the market at first: something the SNB demonstrated so well in the past year). How long have people been calling for China to reval the CNY? How has that worked out so far? So while the Ackman trade will indeed be profitable in a very low probability binary outcome case, what will likely be just as profitable is a bet on that ultimate non-dilutable currency, whose primary driver incidentally are all those Hong Kong investors who are buying the yellow metal specifically due to the abovementioned concerns. Ackman is suggesting that the market is mispricing the possibility of a revaluation. Well, what if the market is pricing the probabilities perfectly and instead has focused on capturing the central-planning inflation threat uncertainty by going long non-dilutable monetary equivalents which the government is unable to peg? Which is not to say we think that Ackman is wrong: the truth is nobody can predict what Hong Kong authorities will decide to do. However, what is certain is that Deutsche Bank has been correct in its prediction of not only what will happen to the Hong Kong economy (and its currency), but also in anticipating the advent of the Ackman trade. It also suggests that the final outcome is very much a different one:
Full Deutsche Bank presentation:
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| Posted: 16 Sep 2011 02:46 PM PDT
Following recent disclosure that Bill Ackman's latest so-called 'slam dunk' idea is a bet on a revaluation of the Hong Kong dollar (as described here), it is interesting to see what someone like Deustche Bank's Mirza Baig thought precisely about the trade that Ackman is proposing as some unique concept (in 151 pages no less) as long ago as November 2010. To wit: "Public complaints against inflation are already loud, and may intensify if the reflationary tide swells further. This could turn up the heat on the authorities. Since 1983 when the current regime was adopted, Hong Kong has experienced CPI inflation as high as 12% and deflation as low as -6%. The current inflation rate of roughly 3% looks benign in this context. In 2008 when inflation crossed 5%, the public debate on monetary policy became more intense, but Hong Kong ultimately braced the peg. In short, we feel the situation will have to become far more extreme, and other policy tools prove ineffective before authorities capitulate and allow a revaluation of HKD. At present, the probability of this scenario is low, in our view. This is why we noted earlier that we expect the reval trade to attract more interest from offshore investors, and possibly reach blow-out levels by the middle of [2011]." And after highlighting the Ackman's trade from 10 months later, DB concludes that "[t]he more likely scenario is that Hong Kong will attempt to ride out the reflation tide with its current policy. The public would gradually move to using RMB for payments, and the HKD would fall into relative disuse. Once China's capital account is sufficiently open (5-10 years later), Hong Kong would endorse the shift towards China through a formal peg vs. RMB at the then prevailing exchange rate (i.e. without any revaluation)." As for the merit of the actual trade, Ackman's point is that Asian, and specifically Hong Kong inflation will simply get out of control. Yet in that same case, is a simple bet on gold not more profitable? After all, when it comes to politically regulated markets, empirical evidence demonstrates that centrally planned monetary regimes will do everything but what is most logical (especially when it is far easier to simply intervene in the market at first: something the SNB demonstrated so well in the past year). How long have people been calling for China to reval the CNY? How has that worked out so far? So while the Ackman trade will indeed be profitable in a very low probability binary outcome case, what will likely be just as profitable is a bet on that ultimate non-dilutable currency, whose primary driver incidentally are all those Hong Kong investors who are buying the yellow metal specifically due to the abovementioned concerns. Ackman is suggesting that the market is mispricing the possibility of a revaluation. Well, what if the market is pricing the probabilities perfectly and instead has focused on capturing the central-planning inflation threat uncertainty by going long non-dilutable monetary equivalents which the government is unable to peg? Which is not to say we think that Ackman is wrong: the truth is nobody can predict what Hong Kong authorities will decide to do. However, what is certain is that Deutsche Bank has been correct in its prediction of not only what will happen to the Hong Kong economy (and its currency), but also in anticipating the advent of the Ackman trade. It also suggests that the final outcome is very much a different one:
Full Deutsche Bank presentation:
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| Donald Trump Takes 3 Kilos of Gold as Office Space Security Deposit Posted: 16 Sep 2011 01:40 PM PDT |
| Posted: 16 Sep 2011 01:40 PM PDT by Mac Slavo, SHTFPlan.com: Very few Americans have ever thought about the prospect of an economic depression or collapse so severe that it could result in riots like those we've seen in the middle east and Europe over the last year. But while most of our countrymen have had their heads in the sand, alternative news media has been warning about the possibility of civil unrest, riots, violence and even martial law if the economy continues on its unabating downward trajectory. It seems that the realities of what we face are starting to reach the mainstream, as Mayor Bloomberg of New York recently noted on WOR Newstalk 710:
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| Posted: 16 Sep 2011 01:37 PM PDT by Chris Powell, Secretary/Treasurer, GATA: Dear Friend of GATA and Gold (and Silver): An updated complaint in the class-action lawsuit against JPMorganChase alleging manipulation of the silver futures market, filed this week in U.S. District Court for the Southern District of New York, details the mechanisms of the manipulation and some of the traders executing it. According to the updated complaint: – MorganChase already had a large short position in silver when it acquired another large short position upon the investment house's acquisition of the failed New York brokerage Bear Stearns in 2008. This, the complaint says, gave MorganChase hugely disproportionate influence in the silver market. – MorganChase used "fake" and "spoof" trades to manipulate prices downward, particularly in advance of contract expiration dates, when MorganChase held put options, which became more valuable as the price of silver was driven down.
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| What a Major Banking Crisis Would Do To the Gold Price Posted: 16 Sep 2011 01:00 PM PDT With the downgrade of Societe General and Credit Agricole, two of the largest French banks, because of their Greek debt holdings, it is certain that any default by Greece (which still looks more than likely) will trigger major banking crises. Moody's lowered Credit Agricole to Aa2 from Aa1 because of its Greek holdings, and will continue to review the impact of funding markets on the rating. Societe Generale was reduced to Aa3 from Aa2, with a negative outlook, as Moody's re-evaluated its level of state support.
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| Posted: 16 Sep 2011 12:58 PM PDT by Mary Anne & Pamela Aden:
Gold shares and silver are following, and many gold shares have also reached new highs. Uncertainty and fear kicked up several notches this month, which caused a run to safety, and gold and bonds were the favorites. It's interesting that we're seeing both traditional inflation and a deflation indicator rising together as safe havens. Gold Demand Strong Gold continues to be bought by governments. Venezuela and Bolivia were upfront this month. Hugo Chavez is taking his gold out of London and the U.S. and sending it home, as he nationalizes mines. Mexico, Russia, Thailand and South Korea have been major buyers this year. Read More @ SilverBearCafe.com
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| Why the Gold Price is So High? Posted: 16 Sep 2011 12:41 PM PDT by Mises, MarketOracle.co.uk:
However, even if we restrict ourselves to movements in the prices that average households face in the marketplace, there is still widespread disagreement. Although the overlap isn't perfect, typically the Keynesians warn that with high unemployment, the US runs the risk of a Japanese "lost decade" of flat consumer prices and stagnant economic growth. Many Austrians, in contrast, warn of a different decade: namely the United States during the 1970s, when Americans suffered high unemployment and price inflation. To bolster their position, the Keynesians confidently point at the low yields on various government bonds, signaling that "the market" expects modest price increases over the coming years. In contrast, soaring gold and silver prices have been the trump cards for those Austrians predicting skyrocketing prices in general. Read More @ MarketOracle.co.uk
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| Posted: 16 Sep 2011 12:33 PM PDT from FOFOA:
The story I am about to relate to you was first told in a lecture hall at the School of Political Sciences in Paris (L'École des Sciences Politiques) on March 17, 1932, from the depths of the Great Depression. It is, perhaps, more relevant today than it was on the day Jacques Rueff delivered it. Rueff began with this: "The story I am going to relate covers a long period. It is the life story of the gold standard, now afflicted with so grave an ailment that only time will tell if the victim will succumb or be left, at the very least, in a state of virtual paralysis." [1] He said "only time will tell"… well, some time has passed, and it did "tell". So what grave ailment was he talking about in 1932? What did time reveal since then? And how has this important story been misread over the years? I will try to answer these questions and to retell Rueff's story the way I think it should be told today. And my hope is that this will, in your mind, bring together many dissonant concepts, as it did in mine, into a grand, unified, long-line view of Freegold. Read More @ FOFOA.Blogspot.com
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| Gold Price Closed Today at 1,812.10 Posted: 16 Sep 2011 12:21 PM PDT Gold Price Close Today : 1,812.10 Gold Price Close 09-Sep : 1,856.40 Change : -44.30 or -2.4% Silver Price Close Today : 40.78 Silver Price Close 09-Sep : 41.57 Change : -0.79 or -1.9% Platinum Price Close Today : 1,813.90 Platinum Price Close 09-Sep : 1,837.90 Change : -24.00 or -1.3% Palladium Price Close Today : 731.20 Palladium Price Close 09-Sep : 737.10 Change : -5.90 or -0.8% Gold Silver Ratio Today : 44.44 Gold Silver Ratio 09-Sep : 44.66 Change : -0.22 or 1.00% Dow Industrial : 11,509.09 Dow Industrial 09-Sep: 11,295.81 Change : 213.28 or 1.9% US Dollar Index : 76.24 US Dollar Index 09-Sep : 76.23 Change : 0.01 or 0.0% Important Note: Franklin Sanders is on vacation until the 19th of September. Franklin's parting commentary can be viewed here : http://silver-and-gold-prices.goldprice.org/2011/09/gold-and-silver-prices-today-proved.html 
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| Names of JP Morgan Silver Manipulators Are Disclosed Posted: 16 Sep 2011 11:37 AM PDT By Lonerangersilver The manipulation of silver prices in the New York COMEX by JP Morgan have gone on too long and in huge amounts. Let's be clear about it, it is fraud and it is against the law. The CFTC and the SEC who are charged with overseeing the trading at the COMEX just sit [...] 
This posting includes an audio/video/photo media file: Download Now |
| Ian Campbell?s Commentary: More on Gold! Posted: 16 Sep 2011 11:00 AM PDT I read an article yesterday about the price of physical gold…that I think is worth bringing to your attention [not only because of what was*conveyed but who was the source of the comments made and the great credibility of those comments given his] immediate access… to people he knows in high-level positions [and]*can, and no doubt does, interact and share views with on a daily basis.*[Let me explain more fully.] Words: 840 So*offers Ian R. Campbell, FCA, FCBV (stockresearchportal.com/) in Today's Economic & Resource Stocks Commentary* which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has further edited ([* ]), abridged (…) and*reformatted*below**for the sake of clarity and brevity to ensure a fast and easy read. The author's views and conclusions are unaltered and no personal comments have been included so as to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copy...
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| Northern Gold Mining Inc. Announces Completion of $10,870,471 Non-Brokered Private Placement Posted: 16 Sep 2011 09:10 AM PDT Northern Gold Mining ("Northern Gold" or the "Company") (TSX VENTURE:NGM, NTGMF.PK) is pleased to announce that it has completed a non-brokered private placement for aggregate gross proceeds of $10,870,471 subject to regulatory approval (the "Offering").
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| Posted: 16 Sep 2011 09:02 AM PDT Synopsis: It appears that a true mission impossible is under way – one to bail out the world by essentially shuffling fiat paper around and around. David Galland elaborates and offers some advice for getting through this currency version of "Old Maid." Dear Reader, As I'm getting something of a late start this morning, I'm juicing up on an extra dose of espresso and by listening to Busy Bein' Born by Middle Class Rut. While the song's powerful beat syncs up with my penchant for the dramatic, unless you like seriously hard rock (and don't mind some hard language), do yourself a favor and give it a pass… it's a head banger, no question.
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| SocGen's 6 Easy Charts On What Happens To Gold And Stocks Under "QE2.5" Posted: 16 Sep 2011 08:47 AM PDT Looks like SocGen pulled a TGIF today and in response to its Corporate Market Alert, in which it asked the rhetorical question, "Fed QE '2.5': gold and equities to take off again?" it answers itself quickly and to the point in just 6 simple charts. Here they are...
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| SocGen's 6 Easy Charts On What Happens To Gold And Stocks Under "QE2.5" Posted: 16 Sep 2011 08:47 AM PDT
Looks like SocGen pulled a TGIF today and in response to its Corporate Market Alert, in which it asked the rhetorical question, "Fed QE '2.5': gold and equities to take off again?" it answers itself quickly and to the point in just 6 simple charts. Here they are...
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| BREAKING: Identities of JP Morgan Silver Manipulators Exposed Posted: 16 Sep 2011 08:46 AM PDT
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| Posted: 16 Sep 2011 08:41 AM PDT Bill Bonner View the original article. September 16, 2011 08:33 AM The Lehman bankruptcy was a much more important event than 9/11. It marked the end of a 60-year credit expansion. Maybe it marked the high water mark for the US Empire, too. And the beginning of the end for the US dollar-based world monetary system. But the occasion went by yesterday without much notice. What's most remarkable about this post-Lehman economy is that it is so un-remarkable. What do we mean? Well, yesterday we reported that consumers weren't spending…and that prices weren't rising. But that's just what you'd expect for a Great Correction. And here comes The Wall Street Journal with another non-shocker: The income of the typical American family — long the envy of much of the world — has dropped for the third year in a row and is now roughly where it was in 1996 when adjusted for inflation. The income of a household considered to be at the statistical middle fell 2.3% to an inflation-adjusted $...
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| Gold Triangle Remains Favored Pattern Posted: 16 Sep 2011 08:41 AM PDT courtesy of DailyFX.com September 16, 2011 07:36 AM 300 Minute Bars Prepared by Jamie Saettele, CMT “Keep the word ‘range’ in mind as a triangle may be unfolding from the August top in gold. One never knows if a triangle is underway until the pattern is mature but a triangle may be what this market needs in order to correct the recent surge in price and volatility. Remember, markets need to be corrected in both price and time.” If a triangle is underway, then the next move is probably higher in wave D towards the upper 1800s. Trend Strength (M,W,D) – 3, 2, 0 Latest Video Weekly Forecast COT Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream. A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) des...
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| Posted: 16 Sep 2011 08:37 AM PDT Click here to read Martin Armstrong's latest report – the first report since 1999 written by the computer.
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| Must-Listen Interview On The Global Physical Gold Market Posted: 16 Sep 2011 08:29 AM PDT "It appears that India wants to buy the entire world's gold supply at the right price" - John Brimelow This is about an 18 minute interview by James Turk of John Brimelow, someone who most you have never heard of but who provides invaluable reporting/information on the gold trading globally - specifically on the massive physical buying markets in India and Asia. I access the publicly available commentary by Brimelow in the nightly Midas report at http://www.lemetropolecafe.com/ It is one of the key tools we use to manage our fund. If you are interested in learning about some of the key variables driving the trading price gold, you need to listen to this: LINK 
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| Gold Daily and Silver Weekly Charts - Antics Abounding Posted: 16 Sep 2011 08:21 AM PDT |
| Liquidation, Drones, Strippers Posted: 16 Sep 2011 08:20 AM PDT Dave Gonigam – September 16, 2011
And with that, the People's Bank of China has put Uncle Sam on notice. According to Ambrose Evans-Pritchard of the London Telegraph, this might be the first instance of a Chinese official using the words "liquidate" and "Treasuries" in the same sentence. The official is Li Daokui, one of the major rate setters within China's central bank. He said it at a meeting in China of the World Economic Forum — the organization best known for its annual gathering of the world's power elite in Davos, Switzerland. "The incremental parts of our foreign reserve holdings should be invested in physical assets," Li said. "We would like to buy stakes in Boeing, Intel and Apple, and maybe we should invest in these types of companies in a proactive way." Ooh, that ought to go over well on Capitol Hill.
Cue Addison, in the new issue of Apogee Advisory, released three days ago: "The U.S. Treasury will never 'default' in the sense of stiffing creditors on interest or principal. No, it will proceed to default in a far more stealthy way… as when Uncle Sam stiffed the Japanese in the 1970s." It's a story few Americans are aware of… but the Chinese know very well. Meanwhile, the notice Mr. Li served up this week is one in a long line chronicled in the issue. "It's a warning," Addison writes, "that China could soon cut up America's credit card." The issue lays out two "coping strategies" for whenever that day arrives. And for one of them, the ideal time to pounce is now. Not a subscriber yet? Access here.
There's no independent confirmation of this claim… and hardly a month goes by that the U.S. government doesn't claim to have killed a "senior Al Qaeda leader." Ho hum… But there's an intriguing investment angle to the story.
And they're getting used a lot more. Figures from the New America Foundation show there were nine U.S. drone strikes in Pakistan between 2004 and 2007. In 2008, the number jumped to 33. The numbers continue to accelerate under President Obama: 53 in 2009, 118 last year.  up to 20 hours, carrying 3,000 pounds of precision munitions. Drones are now in use in America's covert war in Yemen… and the covert war in Somalia. Meanwhile, unarmed surveillance drones keep an eye on the U.S.-Mexico border.
And those drones that get a lot more flight time these days. Behind the military, many other customers are lining up. "The big airplane builders have fat order books," says our metals maven Byron King. "The rest of aerospace is still doing things that have to get done — for example, building satellites that launch on a multi-year schedule, which is immune to short-term ups and downs in the economy." The auto and nuclear industries increasingly need it, too. No, it's not a rare earth. In fact, Byron believes, with one or two exceptions, the easy money's been made in rare earths. But this other metal — what he calls "the fourth element" — has just as much investment potential. Byron recently identified a tiny company sitting on a huge deposit of "the fourth element." If you missed out on his rare earth gains of the last 12 months — including plays for 109% and 178% — you don't want to overlook this.
Almost anything can happen before day's end, it being quadruple witching. Stock futures, stock options, stock index futures, stock index options… they all expire today.
Germany's DAX Index, which hit a two-year low on Monday, closed the week up more than 9%. The euro, which sat below $1.36 on Monday, ends the week just shy of $1.38. "Emotions on Monday are often overreactions," says Strategic Currency Trader's Abe Cofnas. "So we opened bullish binary options on the euro and the DAX, expecting things to turn around by the end of the week. "It was a great move… By Wednesday, the fear had evaporated, and our binaries took off. We sold half our DAX position for a 60% gain — and the remaining half is set to show 84% gains. "Thursday, we closed half our euro binaries for an easy double, with a chance to score 153% on the rest. It just goes to show that when you bet on the unexpected, you can win big!" That's how it works in the market Abe follows: In on Monday, out by Friday. No other North American trading advisory covers it. You can be on board for next week's recommendations by going here.
At last check, the spot price was $1,786.
"Silver at these levels offers great reward to risk and is more than 25% off the April highs," says Resource Trader Alert's Alan Knuckman. Yesterday, he called for a jump to $48.50 over the next six months. That's a 20% move from current levels… but Alan's readers are hoping for much more after the play they laid on yesterday. In the last 12 months, they've had the chance to bag precious metals gains of 125%… 206%… even 233%. Membership to Resource Trader Alert is available at half the regular fee — but only through this link:
 A Ford plant in Talbotville, Ontario, produced the last Crown Victoria yesterday. For several years now, the Crown Vic was available only to fleet buyers — usually taxi companies and police departments. If it's a throwback you crave — a full-size, V8, rear-wheel-drive sedan — Detroit hasn't completely left you in the lurch. Ford still builds the Lincoln Town Car on the same platform as the Crown Vic. What, you wonder, will police departments buy in the future? This year, Chevrolet brought back a fleet-only version of the Caprice, which was last produced in 1996:  One look, and you understand why even the clueless bailout beneficiaries at GM aren't trying to sell it retail.
"When I started working, I was paying for my grandparents, and then I was paying for my parents. I expected the government to let my generation starve, go without electricity or water and lose our homes, so I worked hard and put money in my pension."
"Yes, Congress stole the money, and it has been publicized for over 30 years that I know of. I can remember hearing about the growth of government and the declining ratio of workers to people on the government payroll, and that was over 40 years ago!" "The message has been out there, and no one wanted to pay attention. Seniors want to blame Congress, but who elected the Congress for all these years?"
"My personal experience substantiates this, so if you want me to work in my elder years, please allow me equal opportunity to jobs and not treat me to poverty based upon 'damned if you do, damned if you don't' judgments." "When I volunteered to be a counselor for children whose parents are in immigration proceedings (our judicial wisdom only grants representation to adults and lets them use the children for their own purposes) to protect their legal rights, I was asked, at my doddering old age of 61, 'You are so old, are you still practicing?'" "Can't work due to anti-elder discrimination and too young to retire and too old to volunteer. Strange semantics."
The 5: This week, a study by the Center for Work-Life Policy found Generation X getting squeezed — in part because their numbers are relatively small: 46 million Americans were born between 1965-78. Ahead of them are 78 million boomers, and behind them are 70 million millennials. "When boomers were in middle management, they didn't have pressure from Generation X leapfrogging them, because it's not a huge group," says Sylvia Ann Hewlett, the report's co-author. "We think that Generation X is certainly feeling this more strongly because the boomers are delaying retirement."
We pause in rummaging through the mailbag to tell the story of Carla, who, understandably, wants to keep her last name private. She's 10 years out of law school, living in a "medium-sized city," according to a story at MSNBC's website. She was let go from her firm in 2009, and she's still paying off her student loans. "With our economy the way it is, especially in smaller cities … you strip or you starve," Carla says.  "I work with war widows, a nurse, a med student, women who have had to go to work to save their homes after their husbands have lost their jobs, and others who do this as a means to an end and who do not fit the profile of junkie/prostitute/dancer." "What we all have in common is being in a tight spot financially and living in an economy that provides limited options right now." That, and they have to contend with the paperwork to pay FICA taxes on their tip income — which they'll likely never see returned to them. Insult added to injury…
"Not one single solitary politician has proposed the elimination of Social Security for those at or close to retirement. All changes, virtually without exception, are for those much further behind (i.e., much younger). Now those people who are decidedly younger — yes, they will likely see benefits pushed further out, sooner or later." "But I can hardly see why you publish the paranoid ramblings of those who see all Social Security imminently down the toilet for those very close to retirement." "In defense of your choices, I suppose the letters serve the purpose of showing just how paranoid the population is."
"Keeping my head down and eyes on the horizon, I am lately accused by my loved ones of being too negative and too engaged in rage at the government follies levied on us. "Maybe, as stated, laughter and satire is the best or only way to get through what portends to be a hurricane of epic proportions. As they say, so we've sown the wind, so we shall reap the whirlwind. Thanks for keeping us ready!" The 5: It's an honor and privilege to do so. Once again, if it's retirement income you seek, we have two approaches to consider, here and here. Have a good weekend, Dave Gonigam P.S. "A group of researchers," reports today's Wall Street Journal, "said that by examining the whole genome of a family of four, they were able to make unusually specific findings, including the daughter's risk of blood clots and suggestions for preventive care." This breakthrough would not have been possible without the work of Craig Venter and the Human Genome Project. His privately funded initiative cracked the complete human genetic code in 18 months. A parallel effort by the federal government was funded with a 20-year time horizon. Addison is on the West Coast today, interviewing Venter for the documentary RISK! He'll describe how entrepreneurs can accomplish things that bureaucrats and academics can only dream about. Venter will also speak from first-hand experience to the ways envious bureaucrats can make life difficult for entrepreneurs… but that's a story for another day. Stay tuned…       
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| CHART OF THE DAY: FINALLY, Investment Advisors Are Capitulating And Buying Gold Posted: 16 Sep 2011 08:19 AM PDT 16-Sep (BusinessInsider) — Here's a fascinating little nugget. A recent Schwab survey of 911 registered investment advisors (RIAs) asked respondents what asset class they were likely to allocate more money to going forward. As you can see, there's almost no increase in enthusiasm for any area except… gold.
[source] PG View: This is a trend that we here at Centennial Precious Metals have been witnessing first hand. We have a marked increase in the number of inquiries from investment advisers and wealth managers that are looking to offer physical gold to their clients. The smart ones are looking to get out in front of the rising demand for physical metal, but for many that demand has already materialized and they are scrambling to react. Yet still only 10% of survey respondents said they would likely allocate more to gold. Is that even remotely reflective of a bubble? I think not.
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| Warning for Americans: Be Safe and Stay Alert. It’s coming. Posted: 16 Sep 2011 08:12 AM PDT Mac Slavo In June of this year we published our first on the ground report from Greece provided to us by long-time SHTFplan.com contributor Manos. As Greece continues to deteriorate it is no doubt foreshadowing what's to come for the rest of the world's developed nations in the near future, Manos is keeping us updated and he is very concerned about the future of his country, as well as the spreading of the contagion which will soon envelop advanced economies around the globe. Greece provides us a microcosmic view of what an economic, financial, political and societal collapse looks like. In 13 Signs of a Societal Collapse, Tess Pennington details some of the events we'll see happening during a systemic break down of nations. This is happening right now, in an economy and political system that was supposed to be centrally managed to avoid such things. We are witnessing the collapse of the first domino, and the chain reaction's blast wave will obliterate the societies of entire first world nations. It's clear that the Greek people are suffering in an untenable situation and Manos' sentiment is that it is only going to get worse in Greece, the rest of Europe, and the United States. The steps cited by Manos as evidence of his country's collapse mirror similar events unfolding here at home. The coordinated attacks on the world's economies are coming to a head, and the situation is dire. The people of Greece are paying the price, but they won't be alone. As our friend Manos said… It's coming. Be safe and stay alert. 
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| LGMR: ECB Dollar Move Not "Killer Package" to End Crisis Posted: 16 Sep 2011 07:58 AM PDT London Gold Market Report from Ben Traynor BullionVault Friday 16 September, 08:30 EDT Gold Investors "Need Strong Stomachs", ECB Dollar Move Not "Killer Package" to End Crisis, "Use More Leverage" Geithner tells Euro Leaders U.S. DOLLAR gold bullion rallied to $1789 an ounce Friday morning London time – down 3.6% from last week's close – following a sharp fall that began the previous day after key central banks announced they will begin US Dollar liquidity operations. Silver bullion gained 1.9% from Friday morning's low to hit $40.20 per ounce by lunchtime – though this still represents a 2.9% drop for the week. Banking stocks were among Friday morning's biggest gainers as European equity markets continued the rally they began on Tuesday. Earlier on Friday, gold bullion continued the previous day's decline during Asian trading, hitting a low of $1764 per ounce – 5% down on last week's close. The last time gold fell more than 5% in a week – based on Friday-to-Friday PM L...
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| Fall 2011: Gold Breakout Season Posted: 16 Sep 2011 07:44 AM PDT Morris Hubbartt Weekly Market Update Excerpt posted Sep 16, 2011 US Dollar Dead Cat Chart Dollar Commentary [LIST] [*]A close look at this chart shows that every rally in the dollar against gold has been showcased with a weaker move up, and a shorter amount of time in the uptrend, and the rally has been followed by a steep decline. This chart shows nothing more than an extremely oversold technical condition for the US dollar being worked off. This technically oversold condition for the dollar is not a buy signal. [/LIST] [LIST] [*]Many considered the Swiss franc as good as gold. That idea went up in flames with the recent attack of the Swiss government on its own currency, one accompanied by a verbal threat of money printing to hold it down. Will America’s government do something similar, or even worse? [/LIST] [LIST] [*]Will the American government to try to manage its debt problem with a major devaluation of its currency against gold? The lac...
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Gold just doesn't let up in its ongoing super rise as record highs have been commonplace this past month. It's already soared over 33% this year, which makes it almost the best year so far in the bull market!
Ever since Ben Bernanke began flooding the banking system with trillions of new dollars in the fall of 2008, economists and other pundits have disagreed on whether the US is in store for a grinding deflation or an accelerating inflation. Part of the disagreement stems from some people using the terms to refer to prices, whereas others refer to changes in the total quantity of money and credit.
Identities of people involved in the alleged JP Morgan conspiracy to manipulate the price of silver have been exposed, along with the mechanisms of the manipulation of silver. King World News was contacted two days ago by key people familiar with this situation. This was described by an individual out of London who is very familiar with the lawsuit as, "The biggest news in a long time because these are actual people who are coming out and naming names of individuals who were involved in this alleged conspiracy with JP Morgan to actively manipulate the price of silver. People may go to jail over this. 
"Once the U.S. Treasury market stabilizes, we can liquidate more of our holdings of Treasuries."
"The Chinese are clearly vexed with Washington," reports Evans-Pritchard, "viewing the Fed's QE [quantitative easing] as a stealth default on U.S. debt."
The CIA says one of its drone aircraft has taken out a senior Al Qaeda leader in Pakistan. Abu Hafs al-Shahri played a "key operational and administrative role," anonymous officials tell the BBC.
10 years ago, the U.S. military had only 60 unmanned "drone" aircraft in its arsenal. Today, the number is more than 6,000. That's a lot of weaponry that can be "piloted" remotely from a base in Nevada.
Manufacturers can't make drones without a critical metal that you've likely never heard of. It's six times as strong as steel, and the Pentagon says it "possesses unique properties that make it indispensable in many of today's critical U.S. defense systems, including sensors, missiles and satellites, avionics and nuclear weapons."
U.S. stocks started the day up, but as of this writing, the major indexes are flat.
European stock indexes moved up again today, buoyed by this week's serial applications of Band-Aids to the festering sores of sovereign debt in the PIIGS countries.
Gold is regaining its footing after falling below $1,800 yesterday, when the world's biggest central banks announced they would flood the European banks with dollars.
Silver has regained the $40 level, if not by much. An ounce of the white metal fetches $40.06.
We can't allow the weekend to start without acknowledging the end of the line for one of the auto industry's iconic brands:
"I'm a 60-year-old, considered a baby boomer," writes a reader carrying on our Social Security free-for-all, "and since American Government in high school, I've known that my Social Security dollars were not going to be there for me."
"People may not want to hear it," adds a 58-year-old, "but some day, they need to face reality."
"I am quite surprised at the burgeoning hate toward the older person" that this reader saw emerge yesterday, "and only wish to point out that age discrimination against workers ready to work over 55 is greater than any other form of discrimination, according to UK surveys."
"If all the retirees go back to work," writes another, "how will all the new college grads find a job? There won't be any openings. The new grads are already complaining in this tight job market and asking the old people to get out of the way."
Thus, you have lawyers in their mid-30s who make ends meet by stripping. Seriously.
"I am fed up," as we return to the mail, "with the paranoid whiners who fret that in two years, as one such writer said, he'll get no Social Security payout at all! Give me a break.
"I was really hit hard," writes our final contributor, "by the letter from the 49-year-old reader 
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