Gold World News Flash |
- GoldSeek.com Radio Gold Nugget: Peter Schiff & Chris Waltzek
- Gold Analysis 2013
- India's central bank cites CPM Group about paper gold's magical properties
- GOLD: Rocket in the Gantry
- The Case for Dow 20,000 and $2500 Gold
- Rev. Douglas James Cottrell PhD: Future of gold, silver, and the U.S. Dollar (1/2) – YouTube
- BrotherJohnF- The Coming Silver Super Spike – YouTube
- Offshore Banking, Private Banking, Offshore Corporation, Second Passport and Asset Protection – International Offshore Law & Affiliates Law Firm
- Asian Metals Market Update
- The Good, The Bad And The Ugly From The Fiscal Cliff Deal
- Commodity Technical Analysis: Gold Probes Short Term Trendline
- Gold Reaches Two-Week High as Commodities Gain on Budget – Bloomberg
- Gold & The Frightening Picture Of Our Financial Abyss
- Gold Seeker Closing Report: Gold and Silver Gain Almost 1% and 2%
- Gold rises for the 12th consecutive year
- Alf Field: Once $1,800 Is Taken Out Gold Will See a Vigorous Climb to $4,500 Area
- Where in the World to Invest in 2013 | Breakout – Yahoo! Finance
- Why Does Someone Keep Losing Money On AAPL In The Last Second Of Trading?
- Campaign Finance: Lawyers’ Citizens United v. FEC U.S. Supreme Court Arguments (2009) – YouTube
- GoldSilver.com's 2012 report on the race to debase currencies
- The Gold Price Gained $13.10 to $1,687.90 Stop Waiting and Start Buying
- Guest Post: Mother, Should I Trust The Government?
- Stocks to soar as world money catches fire, Calvinst Europe left behind
- Gold vs Currencies: Another Year of Evidence
- Replaying Chris Christie's Epic Anti-Boehner Meltdown
- Ground Vibrations In The Gold & Silver Market
- India's central bank cites CPM Group about paper gold's magical properties
- Gold up to Start the New Year
- DOUG CASEY ON 2013
- PAL & Palladium Update
- Damage Assessment
- The Fiscal Cliff And Gold
- Gold Daily and Silver Weekly Charts - 'Why the American People Hate Congress'
- At least India's government admits its war on gold and wages it in the open
- Gold To Break $2,000 & Global Rush Into Silver Will Continue
- Grandich offers forecast for 2013; Canadian metals dealer supports Liberty Dollar founder
GoldSeek.com Radio Gold Nugget: Peter Schiff & Chris Waltzek Posted: 03 Jan 2013 08:23 AM PST GoldSeek.com Radio Gold Nugget: Peter Schiff & Chris Waltzek | ||||
Posted: 03 Jan 2013 08:15 AM PST Once $1800 is taken out on the upside, the gold chart will look tremendous. A beautiful "cup and handle" base would then provide strong support for a vigorous upward climb in the precious metal. At this stage there is no reason to abandon the rough target of $4500 for this coming upward wave. Once we have the next upleg above $1800 in place, it will be possible to start refining this target. | ||||
India's central bank cites CPM Group about paper gold's magical properties Posted: 03 Jan 2013 08:07 AM PST The RBI report is actually pretty realistic. While it encourages the usual paper gold schemes to enable gold to be thought to be in two or more places at once, it also recogizes that the main forces behind India's gold demand are the unreliability of the Indian government's own currency and the age-old inverse relationship between the price of gold and real interest rates, the relationship central banks long have tried to break with their interventions in the gold market. | ||||
Posted: 03 Jan 2013 08:02 AM PST The Gold rocket is ready in the gantry and positioned for lift off. Newly elected Japanese Prime Minister Shinzo Abe has his finger on the launch button and the rocket science team of Bernanke, Draghi and King, who unwantingly are responsible for the launch, are watching the countdown very nervously. | ||||
The Case for Dow 20,000 and $2500 Gold Posted: 03 Jan 2013 08:00 AM PST The guest commentary below is the second we've published from James Tolard, an old and dear friend as well as a supremely gifted commodity trader. Jim's style is to surf the big trends, trading just a few times a year. He lives in a rural area outside of Paris, but we've coaxed him out of semi-retirement to write occasionally on an eclectic range of subjects suited to his deep intellect, worldliness and wit. This time, he is sharply at odds with our own, very bearish outlook for 2013. We have no qualms about sharing his thoughts with you, however, because Jim's against-the-grain instincts have been right far more often than our own. | ||||
Rev. Douglas James Cottrell PhD: Future of gold, silver, and the U.S. Dollar (1/2) – YouTube Posted: 03 Jan 2013 12:50 AM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]] | ||||
BrotherJohnF- The Coming Silver Super Spike – YouTube Posted: 03 Jan 2013 12:44 AM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]] | ||||
Posted: 03 Jan 2013 12:35 AM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]] | ||||
Posted: 03 Jan 2013 12:03 AM PST Safe haven demand as well as investment demand is supporting gold. Silver is being supported by expectations of better industrial demand as well as higher investment demand and looks headed for much more gains. Copper and crude oil have the best chance to test or break past 2012 highs. | ||||
The Good, The Bad And The Ugly From The Fiscal Cliff Deal Posted: 02 Jan 2013 11:30 PM PST from The Economic Collapse Blog: The fiscal cliff deal contains more bad news than it does good news. Yes, the tax increases on the middle class could have been much worse, and we should be thankful that Congress at least did something for the middle class. Unfortunately, they didn't do enough. Every American worker is going to pay higher taxes next year as a result of this deal. The fiscal cliff deal represents the biggest tax increase in 20 years, and it is also projected to increase the U.S. national debt by an additional 4 trillion dollars over the next decade. In the final analysis, U.S. government finances are still wildly out of control and we are all going to be paying higher taxes. Not a whole lot to be excited about, and nothing has really been fixed for the long-term. Our politicians have kicked the can down the road once again, but someday they will run out of road and all of this debt will absolutely crush us. And of course a lot of our politicians didn't even really know what they were voting for. The fiscal cliff bill was more than 150 pages long, and our Senators got the bill into their hands just 3 minutes before they voted on it. So none of them actually read the bill. But that is the way things work in America today. The blind are leading the blind and everyone is mindlessly hoping that everything will turn out okay somehow. | ||||
Commodity Technical Analysis: Gold Probes Short Term Trendline Posted: 02 Jan 2013 11:13 PM PST courtesy of DailyFX.com January 02, 2013 03:33 PM Daily Bars Chart Prepared by Jamie Saettele, CMT Commodity Analysis: Gold’s decline reversed just before the level where the decline from the October high would consist of 2 equal waves and the 61.8% retracement of the rally from the 2012 low. Currently testing short term trendline resistance and the 20 day average, a reaction would encounter support at 1680. Resistance is estimated above 1700. Commodity Trading Strategy: Flat LEVELS: 1635 1657 1680 1703 1723 1731... | ||||
Gold Reaches Two-Week High as Commodities Gain on Budget – Bloomberg Posted: 02 Jan 2013 10:52 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]] | ||||
Gold & The Frightening Picture Of Our Financial Abyss Posted: 02 Jan 2013 10:01 PM PST Today 40-year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, has two absolutely fascinating charts of gold and the monetary base, which clearly illustrates how dramatically undervalued gold is relative to the massive fiat money base. This posting includes an audio/video/photo media file: Download Now | ||||
Gold Seeker Closing Report: Gold and Silver Gain Almost 1% and 2% Posted: 02 Jan 2013 10:00 PM PST Gold climbed to as high as $1694.72 by midmorning in New York before it fell back off a bit midday, but it still ended with a gain of 0.69%. Silver surged to as high as $31.48 and ended with a gain of 1.98%. | ||||
Gold rises for the 12th consecutive year Posted: 02 Jan 2013 09:55 PM PST by James Turk, Gold Money: For the twelfth year in a row, the gold price in terms of US dollars rose in 2012. Gold climbed 7.0%, so an arithmetic average of its annual rate of appreciation for the last 12 years when measured in US dollars is 16.8%. Gold also rose in 2012 against all of the eight other major world currencies presented in the following table. Gold has been appreciating at double-digit annual rates on average against these currencies as well. These annual rates of appreciation are impressive, but we need to view them correctly. Gold is not creating wealth here at double-digit rates. Gold is not an investment. It can't possibly be an investment because it does not generate any cash-flow. Gold is a sterile asset. It is money, and money does not generate any return unless you lend, deposit or invest it. Money does not generate a return when stored in safekeeping. | ||||
Alf Field: Once $1,800 Is Taken Out Gold Will See a Vigorous Climb to $4,500 Area Posted: 02 Jan 2013 09:52 PM PST *"[B]Follow the munKNEE.com" Register to receive all future posts here[/B][COLOR=#ffffff][FONT=Verdana]urce: GoldSeek[/FONT][/COLOR] There is a high probability that the correction in the gold price that started in early October at $1797 has been completed. Once $1800 is taken out on the upside the gold chart will look tremendous. A beautiful "cup and handle" base would then provide strong support for a vigorous upward climb in the precious metal. At this stage there is no reason to abandon the rough target of $4500 for this coming upward wave. [Below is my analysis and some charts*on*the situation.]Words: 434; Charts: 2 So writes Alf Field in edited excerpts from his original article* entitled Gold Analysis 2013. [INDENT]This article is presented compliments of [B][COLOR=#0000ff][COLOR=#ff0000]www.FinancialArticleSummariesToday.com[/COLOR] (A site for sore eyes and inquisitive minds) and [B][COLOR=#ff0000]www.munKNEE.com [/COLOR](Your Key to Making Money!)[/B] and may have been ... | ||||
Where in the World to Invest in 2013 | Breakout – Yahoo! Finance Posted: 02 Jan 2013 08:44 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]] | ||||
Why Does Someone Keep Losing Money On AAPL In The Last Second Of Trading? Posted: 02 Jan 2013 07:54 PM PST Via Nanex, In the last second of trading on January 2, 2013, trades executed more than $3 above existing market prices in Apple Computer Corp (symbol AAPL). These trades were marked ISO, which means the trader submitting the orders wanted to execute at these higher prices. Why? Good question. This has happened before (as Nanex are so excellent at uncovering): see Apple and Google's Last Second. 1. AAPL - 1 second interval chart showing trades color coded by exchange. 2. AAPL - 50 millisecond interval chart showing trades color coded by exchange. Zooming in from Chart 1.
3. AAPL - 50 millisecond interval chart showing bids, asks and trades color coded by exchange. 4. AAPL - 5 millisecond interval chart showing trades color coded by exchange. Zooming in further.
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Campaign Finance: Lawyers’ Citizens United v. FEC U.S. Supreme Court Arguments (2009) – YouTube Posted: 02 Jan 2013 07:06 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]] | ||||
GoldSilver.com's 2012 report on the race to debase currencies Posted: 02 Jan 2013 06:33 PM PST 8:25p ET Wednesday, January 2, 2013 Dear Friend of GATA and Gold: Our friends at GoldSilver.com have done their annual tabulation of the performance of gold against government currencies around the world, and unless you've been saving in Norwegian crowns, Polish zlotys, Hungarian forints, Colombian pesos, or maybe bitcoins, it looks like you'd have been better off in gold in 2012. The GoldSilver.com report is headlined "Race To Debase 2012 -- Fiat Currencies vs. Gold and Silver" and it's posted here: http://goldsilver.com/article/race-to-debase-2012-fiat-currencies-vs-gol... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Opinion Around the World Is Changing When Deutschebank calls gold "good money" and paper "bad money". ... http://www.gata.org/node/11765 When the president of the German central bank, the Bundesbank, pays tribute to gold as "a timeless classic". ... http://www.forbes.com/sites/ralphbenko/2012/09/24/signs-of-the-gold-stan... When a leading member of the policy committee of the People's Bank of China calls the gold standard "an excellent monetary system". ... http://www.forbes.com/sites/ralphbenko/2012/10/01/signs-of-the-gold-stan... When a CNN reporter writes in The China Post that the "gold commission" plank in the 2012 Republican platform will "reverberate around the world". ... http://www.thegoldstandardnow.org/key-blogs/1563-china-post-the-gop-gold... When the Subcommittee on Domestic Monetary Policy of the U.S. House of Representatives twice called on economist, historian, and gold standard advocate Lewis E. Lehrman to testify. ... World opinion is changing in favor of gold. How can you learn why and what it will mean to you? Read the newly updated and expanded edition of Lehrman's book, "The True Gold Standard." Financial journalist James Grant says of "The True Gold Standard": "If you have ever wondered how the world can get from here to there -- from the chaos of depreciating paper to a convertible currency worthy of our children and our grandchildren -- wonder no more. The answer, brilliantly expounded, is between these covers. America has long needed a modern Alexander Hamilton. In Lewis E. Lehrman she has finally found him." To buy a copy of "The True Gold Standard," please visit: http://www.thegoldstandardnow.com/publications/the-true-gold-standard Join GATA here: Vancouver Resource Investment Conference * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Fred Goldstein and Tim Murphy open All Pro Gold Longtime GATA supporters Fred Goldstein and Tim Murphy have brought their many years of experience in the precious metals and numismatic coins to All Pro Gold as metals brokers who specialize in the delivery of gold and silver bullion bars and coins as well as numismatic gold and silver coins. Fred and Tim follow these markets closely and are assisted by a team of consultants in monitoring market trends. All Pro Gold offers GATA supporters competitive pricing on all bullion products and welcomes inquiries. Tim can be reached at 602-299-2585 and Tim@allprogold.com, Fred at 602-799-8378 and Fred@allprogold.com. Ask about their ratio strategy and the relationship of generic $20 dollar gold pieces to 1-ounce gold bullion coins. Visit their Internet site at http://www.allprogold.com/. | ||||
The Gold Price Gained $13.10 to $1,687.90 Stop Waiting and Start Buying Posted: 02 Jan 2013 05:30 PM PST Gold Price Close Today : 1687.90 Change : 13.10 or 0.78% Silver Price Close Today : 30.952 Change : 0.779 or 2.58% Gold Silver Ratio Today : 54.533 Change : -0.974 or -1.75% Silver Gold Ratio Today : 0.01834 Change : 0.000322 or 1.79% Platinum Price Close Today : 1565.10 Change : 26.40 or 1.72% Palladium Price Close Today : 707.25 Change : 4.60 or 0.65% S&P 500 : 1,462.42 Change : 36.23 or 2.54% Dow In GOLD$ : $164.26 Change : $ 7.50 or 4.78% Dow in GOLD oz : 7.946 Change : 0.363 or 4.78% Dow in SILVER oz : 433.33 Change : -0.97 or -0.22% Dow Industrial : 13,412.55 Change : 308.41 or 2.35% US Dollar Index : 79.85 Change : 0.091 or 0.11% The GOLD PRICE gained $13.10 to $1,687.90 while the SILVER PRICE whacked back a solid 77.9 cents (2.58%) to end at 3095.2c. Those closes all but clinch a reversal in the silver and GOLD PRICE. Yes, both need to build and step out smartly ahead. Only closes below 3100c tomorrow and $1685 would cast that reversal in shady doubt. I didn't buy enough last week, or today. Stop waiting, start buying. Fell over the fiscal cliff, and lo! 'twas a mouse-burp deal as I foretold. Tee-tiny tax increase, not much spending cut, engine of inflation left un-overhauled, burning oil, and needing a ring job pretty badly. WHY do y'all keep expecting something out of these people? They lie to you, steal from you, defraud you, give your money to banks and foreigners, destroy your culture, your institutions, and your nation, kick you in the mouth wearing cleats, and y'all STILL expect something good out of 'em. Listen, by now, the problem's not theirs, it's yours, if you expect anything other than lies, theft, and murder out of Washington. US dollar index challenged last week's highs at 79.93, but failed. My guess is the NGM don't want the dollar to beat 80. Dollar index rose 9.1 basis points (0.12%) to 79.852). Euro lost what the dollar gained. Down 0.11% to $1.3181 and looking toppy. Surprise, surprise, the Yen took another tumble to another new low, down 0.62% to 114.,54 c/Y100 (US$1=Y87.31). Must be near a bottom. Stocks went euphoric on the pixie-dust of Washington's deal. Dow rose 308.41 (2.35%) to 13,412.55, slightly higher than the last high and well above 13,300 resistance. S&P500 rose 36.23 (2.54%) to 1,462.42. Clearly, higher prices will come. Not so clear when measuring these indices by gold. That Island Reversal pattern has been vitiated by filling in the gap, but today's action did not reverse the downtrend. I still reckon stocks have turned down against gold. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com 1-888-218-9226 10:00am-5:00pm CST, Monday-Friday © 2012, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. No, I don't. | ||||
Guest Post: Mother, Should I Trust The Government? Posted: 02 Jan 2013 04:36 PM PST Submitted by Jim Quinn of The Burning Platform blog, Mother, do you think they’ll drop the bomb? Mother, should I run for president? The lyrics to Mother had both a literal and figurative meaning for Roger Waters. He was literally describing his overprotective single mother (his father was killed in World War II) building walls to protect him from the outside world. The figurative meaning is Big Mother sending its boys off to war and using fear to control and manipulate the masses. At the time he wrote this song in 1979, the Soviet Union was thought to be at its peak of power and the Berlin Wall represented a boundary between good and evil. Nuclear war was still a looming fear. Waters has always had a dim view of totalitarian states and institutions (English schools). Having seen his Wall Tour performance this past summer at Citizens Bank Park with a diverse crowd of 40,000, ranging in age from senior citizens to teenagers, it seems this song has gained new meaning. He sang a duet with himself from 1980 projected on the Wall and when he sang the lyric, “Mother, should I trust the government?” the entire stadium responded in unison – NO!!! This revealed a truth that is not permitted to be discussed by the corporate mainstream media acting as a mouthpiece for the ruling class. A growing legion of citizens in this country does not trust the government. This is very perceptive on their part. In part one of this two part series – Hey You – I examined how an invisible government of wealthy, power hungry men have utilized the propaganda techniques of Edward Bernays and lured the American people into a narcissistic, techno-gadget, debt based servitude. Over the last one hundred years they have created a totalitarian state built upon egotism, material goods, and fulfilling our desires through Wall Street peddled debt and mass consumerism. It has been an incredibly effective form of control that has convinced the masses to love their servitude. The ruling oligarchs correctly chose the painless, amusement saturated, soft totalitarianism of Huxley’s Brave New World over the fearful, pain inflicting, surveillance state, house of horrors detailed in Orwell’s 1984. “A really efficient totalitarian state would be one in which the all-powerful executive of political bosses and their army of managers control a population of slaves who do not have to be coerced, because they love their servitude.” – Aldous Huxley – Brave New World The nefarious establishment of the Federal Reserve in 1913, launch of welfare programs in the 1930s, expansion of the entitlement state in the 1960s, creation of the credit card in 1970, mass media marketing propaganda, and the formation of an empire of debt laid the foundation for a society based on triviality, egotism, irrelevance and mass delusion. The conscious manipulation of the habits and opinions of the masses by an invisible government of powerful men using media propaganda and easy to access consumer credit has reached its mathematical limit. The oligarchs built a society dependent upon exponential growth. This unsustainable prototype began to show signs of strain in the 1990s. The powerful interests have been growing ever more desperate and blatantly obvious in their looting and pillaging of the debt bloated carcass of a country. They used their control of the political system to repeal Glass-Steagall, allowing the Wall Street banking cabal to become Too Big to Control. The oligarch puppets at the Wall Street controlled Federal Reserve did the bidding of their masters by reducing interest rates and expanding the money supply to create two epic bubbles. The Dot.com bubble was created by Wall Street utilizing hype and misinformation to fleece millions into believing we had entered a new paradigm. The only people who got rich were the Wall Street hucksters, shysters and shills. When the Dot.com bubble burst, Alan Greenspan came to the rescue, at the urging of Nobel prize winner Paul Krugman, by creating the largest banker made bubble in the history of the world. The combination of excessively low mortgage rates, complete lack of regulatory oversight by the Federal Reserve, control fraud committed by the Wall Street banks, and buying frenzy stirred up by the corporate MSM and NAR, led to the biggest financial collapse since 1929. The white collared psychopathic criminals on Wall Street reaped billions in profits, paid themselves millions in bonuses, and cost taxpayers trillions when it all blew up in 2008. The ruling elite have added $6 trillion to our national debt and their central banker has added another $2 trillion to our ultimate tab, while providing free money to their Wall Street bank owners. They realize their efforts to restart the exponential growth engine have failed. They gutted our productive manufacturing based economic system by shipping the blue collar jobs overseas to Chinese slave labor facilities, replaced workers with machines, stimulated consumption with unlimited distribution of high interest debt, and allowed conglomerates to drive small business owners out of business with their cheap foreign sourced goods, all in the name of capitalism. The plan worked so well that real wages haven’t risen in 40 years, inflation has destroyed the purchasing power of the middle class, 47.7 million people are dependent on food stamps to survive, and the masses can’t even afford the cheap slave labor produced trinkets anymore. There is too little cash, too few jobs, too much debt, too many takers, too few makers, too many bankers, too much delusion, and too few resources to sustain the unsustainable. We have entered the end stages of a ravenous locust swarm. The fields have been stripped barren. When the men in smoke filled rooms realized their soft totalitarianism was losing its grip on the oblivious, submissive, egoistical, distracted masses, they began phase two of their effort to retain their wealth, power and control. They began to institute Orwellian measures to strike fear into the populace. Their illusion of control is dissipating and they are resorting to force in order to maintain hegemony. It began with the immediate passage of the Orwellian Patriot Act one month after 9/11. Did the corporate media question how a 363 page all-encompassing expansion of police state power was written in a few weeks after 9/11 and passed by October 26? They did not. The bill was pre-written and ready for instant implementation when the time was right. The Orwellian version of America was launched. “If the ideology had been a lie, then they are not heroes and gods on earth, but monsters and criminals, and their life has been self-serving and meaningless, without significance and honor. And that is the credibility trap. It is the impulse for the leaders to keep doubling down in the hope of a win, until exhaustion and collapse.” – Jesse Obedience to Authority“Ordinary people, simply doing their jobs, and without any particular hostility on their part, can become agents in a terrible destructive process. Moreover, even when the destructive effects of their work become patently clear and they are asked to carry out actions incompatible with fundamental standards of morality, relatively few people have the resources needed to resist authority.” - Stanley Milgram – Obediance to Authority
Just as Edward Bernays knew the unruly masses could be manipulated by propaganda and molded to believe whatever the small group of intellectually superior men wanted them to believe, conditioning using fear and authoritarian methods have also been perfected by the ruling class. Doctor Stanley Milgram unwittingly provided the oligarchs with confirmation the average citizen could be ordered to do anything by invoking expertise and authority over their subjects. Milgram started his experiments in 1961, shortly after the trial of the World War II criminal Adolph Eichmann had begun. Eichmann’s defense that he was simply following orders when he exterminated millions of Jews roused Milgram’s interest. How could millions of Germans participate and condone such genocide? Milgram’s testing suggested that it could have been that the millions of accomplices were merely following orders, despite violating their deepest moral beliefs. Writer Kendra Cherry describes the experiment: The participants in the Milgram experiment were 40 men recruited using newspaper ads. Milgram developed an intimidating shock generator, with shock levels starting at 30 volts and increasing in 15-volt increments all the way up to 450 volts. The many switches were labeled with terms including “slight shock,” “moderate shock” and “danger: severe shock.” The final two switches were labeled simply with an ominous “XXX.” Each participant took the role of a “teacher” who would then deliver a shock to the “student” every time an incorrect answer was produced. While the participant believed that he was delivering real shocks to the student, the student was actually a confederate in the experiment who was simply pretending to be shocked. As the experiment progressed, the participant would hear the learner plead to be released or even complain about a heart condition. Once the 300-volt level had been reached, the learner banged on the wall and demanded to be released. Beyond this point, the learner became completely silent and refused to answer any more questions. The experimenter then instructed the participant to treat this silence as an incorrect response and deliver a further shock. Most participants asked the experimenter whether they should continue. The experimenter issued a series of commands to prod the participant along:
The level of shock that the participant was willing to deliver was used as the measure of obedience. How far do you think that most participants were willing to go? When Milgram posed this question to a group of Yale University students, it was predicted that no more than 3 out of 100 participants would deliver the maximum shock. In reality, 65% of the participants in Milgram’s study delivered the maximum shocks. Of the 40 participants in the study, 26 delivered the maximum shocks while 14 stopped before reaching the highest levels. It is important to note that many of the subjects became extremely agitated, distraught and angry at the experimenter. Yet they continued to follow orders all the way to the end. Why did so many of the participants in this experiment perform a seemingly sadistic act on the instruction of an authority figure? According to Milgram, there are a number of situational factors that can explain such high levels of obedience:
The American people have been participants in their very own Milgram experiment being conducted by their government since 9/11. Since the passage of the Patriot Act, the government continues to demand that its citizens increase the voltage in the name of security. Since 2001, the Orwellian measures have included:
Just as Milgram pondered how the German people could follow the orders of those in authority to slaughter millions, one must ponder how the American people have allowed those in power to strip us of our Constitutional freedoms and liberties in the name of safety and security. They have conditioned the masses to passively accept their fate by utilizing fear, authoritarian measures, thought control, and propaganda. Human beings never change. They have been driven by emotions throughout history – fear, greed, love and hate. There will always be psychopathic men who seek wealth, power, glory and control. It happened during the decline of the Roman Empire and it is happening today during the decline of the American Empire. “A shocking crime was committed on the unscrupulous initiative of few individuals, with the blessing of more, and amid the passive acquiescence of all.” – Tacitus Big Brother is Watching You“Now I will tell you the answer to my question. It is this. The Party seeks power entirely for its own sake. We are not interested in the good of others; we are interested solely in power, pure power. What pure power means you will understand presently. We are different from the oligarchies of the past in that we know what we are doing. All the others, even those who resembled ourselves, were cowards and hypocrites. The German Nazis and the Russian Communists came very close to us in their methods, but they never had the courage to recognize their own motives. They pretended, perhaps they even believed, that they had seized power unwillingly and for a limited time, and that just around the corner there lay a paradise where human beings would be free and equal. We are not like that. We know what no one ever seizes power with the intention of relinquishing it. Power is not a means; it is an end. One does not establish a dictatorship in order to safeguard a revolution; one makes the revolution in order to establish the dictatorship. The object of persecution is persecution. The object of torture is torture. The object of power is power. Now you begin to understand me.” – George Orwell – 1984
What the average person can’t seem to process through their government public school educated non-critical thinking brains is that there are actually a small group of bankers, politicians, corporate executives, media magnets, and shadowy billionaires who call the shots in this country. They constitute Bernays’ invisible government, run the show, mold the minds, form the opinions, suggest the ideas, and create the reality for the masses because they believe they are intellectually superior. The left/right and Democrat/Republican discord is a planned diversion for the masses. The country has devolved into a corporate fascist warfare/welfare state. We are clearly moving in the direction of Orwell’s state in which government monitors and controls every aspect of human life to the extent that even having a disloyal thought will be against the law. The longer this is allowed to progress the more likely any effort to resist like Winston Smith will be met with brutal measures. The parallels to Orwell dystopian nightmare state grow by the day. Those in control use technology to bombard Americans with psychological inducements designed to overwhelm the mind’s capability for autonomous thought. In Orwell’s 1984 the giant telescreen in every citizen’s room blasts a constant stream of propaganda designed to make the failures and shortcomings of the Party appear to be triumphant successes. In Obama’s 2013 the 72 inch Chinese made HDTVs in every McMansion blasts a constant stream of propaganda designed to make the zombie-like occupants buy trinkets and gadgets with a thin piece of plastic and makes the failures in Iraq, Afghanistan, Egypt and Libya appear to be triumphant successes. Our corporate/fascist party uses their control over the media message to indoctrinate and control the public mind through propaganda and repetitive messaging. In Orwell’s world, the Party undermines family structure by inducting children into an organization called the Junior Spies, which brainwashes and encourages them to spy on their parents and report any instance of disloyalty to the Party. In our world children are indoctrinated in government run public schools that fill their brains with government manufactured history, social engineering claptrap and what they should think, rather than how to think. The Orwellian Department of Homeland Security (Thought Police) instructs them to report anyone they think is suspicious with their “See something, Say something” campaign. Children are “encouraged” to re-educate their parents about green energy and global warming. Corporations fund schools to advertise their products within the hallways of learning. The outputs of this corporate/fascist partnership are non-critical thinking, functionally illiterate, willfully ignorant Proles who obey the Party and consume products as instructed. In Orwell’s 1984 the Party keeps the population in a general state of exhaustion by making them work long grueling hours at government run agencies. This was designed to keep them from thinking or having the energy to resist. About one in six workers work for the government in the United States, with a substantial portion of private jobs dependent upon government largesse. The true distinction in our society can be seen in the income levels over decades of our own Inner Party, Outer Party and Proles. The government educated masses were purposely not taught about the impact of Federal Reserve created inflation on their lives. Even using the government manipulated CPI, the real household incomes of the masses have barely risen in the last forty five years. Using a true measure of inflation, the real household incomes of the average family have fallen. In addition, prior to the 1980s those household incomes were predominantly provided with one parent working and the other raising the children. Today the vast majority of households require both parents to work in order to just tread water. Child rearing was delegated to the state and parents have been kept in a constant state of exhaustion, like hamsters in a cage on a spinning wheel. Household income was replaced by credit card debt, mortgage debt, auto debt, and student loan debt peddled by our very own Inner Party (Wall Street bankers). The Inner Party members have seen their incomes soar over the last four decades. This was not an accident. As those at the top accumulate an ever increasing percentage of the national wealth, while consolidating their power through ever more sophisticated use of technology for surveillance, warfare, and financial theft; urban decay and blight spreads across the land. Totalitarian regimes are ferociously ef | ||||
Stocks to soar as world money catches fire, Calvinst Europe left behind Posted: 02 Jan 2013 04:03 PM PST by Ambrose Evans-Pritchard They are tearing up the script, embracing the new creed of nominal GDP targeting (NGDP), a licence for yet more radical action. The side-effects of this currency warfare — or "beggar-thy-neighbour' policy as it was known in the 1930s — is an escalating leakage of monetary stimulus into the global system. So don't fight the Fed, and never fight the world's central banks on multiple fronts. …With yields priced for deflation, that bubble is dangerous to own on 10-year maturities. The money will rotate into equities and bullion, with China's central bank driving gold through $2,000 at last. [source] | ||||
Gold vs Currencies: Another Year of Evidence Posted: 02 Jan 2013 03:50 PM PST An excellent overview was published by GoldSilver.com showing the 2012 performance of almost all currencies in the world against gold. In the article Race to Debase 2012 – Fiat Currencies vs Gold & Silver, 164 fiat currencies were analyzed against the precious metals. Big surprise, 94% of all fiat currencies lost purchasing power to gold. The rare currencies that did not lose value compared to gold, did so with a minor percentage difference. By contrast, the average loss ("median" to be correct) of purchasing power to gold was 7.0%. The overview is worth reviewing and realizing what is happening worldwide with currencies. Indeed, they are like the 599 other paper currencies that have ALL gone, as research has shown. For a quick summary, we refer to GoldPrice.org where the yearly performance of gold in all major currencies is shown. The overview is shown in the following graph. As Nick Barisheff pointed out, it is not the price of gold that goes up, it is the value of currencies that is declining. 2012 was just another year that proved it to be true. | ||||
Replaying Chris Christie's Epic Anti-Boehner Meltdown Posted: 02 Jan 2013 03:46 PM PST Earlier today, in what can only be summarized as an epic meltdown, NJ governor Chris Christie proceeded with an even more epic rant against House speaker John Boehner, in narrow terms, and House Republicans in broader, for killing the $60 billion Sandy Assistance bill, whose funding would have offset one full year of the just legislated tax hikes on the rich which would add $62 billion annually to the Treasury (or alternatively would have been unfundable for the next 2 months while the US struggles to pay its mandatory bills courtesy of having breached the debt ceiling). Alternatively, all Americans could just agree to accept less welfare and entitlement benefits to show their solidarity for New Jersey and fund the recovery of the Tristate area by a "shared sacrifice" instead of going the default route and demanding even more deficit spending - something that would naturally saddle the next generation with even more pain, not the current, far more entitled one - but in this country that is an absolutely ludicrous proposition. Below is a clip of the entire Christie performance which is a must see for sheer indignation entertainment value alone. While we understand Christie's frustration and escalation in what is obviously a personal vendetta between the two men, as so often happens, much was left unsaid. For example the fact that the proposed bill was also chock full of pork spending such as:
And others. Some more from the Weekly Standard:
Yet, the war may already be lost by Boehner. The Hill reports that the first thing sacrificed by Boehner is what he prized himself in most: one-on-one talks with Obama - those are now over.
What this means is that the debt ceiling debate, which culminates in 59 days, is now open for everyone, and as a result the compromise will be that much more difficult.
If anything, the sudden change in Boehner's MO will simply mean that it will be more complicated to mask the fact that when it comes to spending and deficits, the two parties are really one. But if it does indeed lead to more openness and transparency at least the myth of a more democratic process may return for a few more weeks. It will also make the next season of Congressional theater, that which picks up in 2013 with a focus on the Debt Ceiling where the 2012 Fiscal Cliff season left off, that much more exciting and dramatic. Just as intended. | ||||
Ground Vibrations In The Gold & Silver Market Posted: 02 Jan 2013 03:20 PM PST This is a guest post by Tekoa Da Silva from Bull Market Thinking. The website provides commentary from top global decision makers and an inside glance at a variety of mining and junior resource stories. In his latest article, Tekoa Da Silva shares interesting "inside" information. Two important things occurred in the gold and silver market over last handful of trading days. Firstly, the CME lowered gold margins by nearly 10%. This was released on Dec. 28th, which by today's standards of online publishing is already Medieval History. The second important event, is happening right now. The HUI is breaking out of it's downtrend (hat-tip to Gary Savage's Smart Money Tracker), and appears to be continuing it's breakout today as shown below: Now, as I published on Dec. 27th, I had a fascinating conversation with a major silver producer, who indicated the company has been seeing strong volumes of telephone calls from mutual funds, pension funds, hedge funds, and value/growth funds, due to the low multiples of mining equities. When we contrast these pieces of market evidence against the backdrop of incredibly poor market sentiment, exhausting December tax-loss/capitulation selling, and a brutal, painful, and persistent bear market in resource shares since August 2011…I think it's safe to say we're setting up for one hell of a move higher in mining shares. The match to get the fire started is the drop in gold futures margins, and 2012 tax-loss sellers rolling positions back into the market. Additionally, I've compiled a list of companies which I think will outperform in the months ahead, which I've called, "Tek's Favorite Mining Stocks List". It has outperformed the GDX by almost 18% during this bear market, and I have a gut feeling the stocks I've identified on the list are about to rocket higher. The majority of them are 40% or more owned by institutions and insiders, some as high as 85%-90% owned by insiders and institutions . I'm not the sharpest knife in the drawer, but when the funds, billionaires, and successful resource executives I watch and interview become majority shareholders of companies…lets just say my "spidey-stock-sense" tingles. Written by Tekoa Da Silva | Original post | ||||
India's central bank cites CPM Group about paper gold's magical properties Posted: 02 Jan 2013 03:20 PM PST 5:30p ET Wednesday, January 2, 2013 Dear Friend of GATA and Gold: Calling attention today to a new report issued by a commission appointed by the Reserve Bank of India to study ways of tempering gold demand in India, Zero Hedge's pseudonymous Tyler Durden summarizes: "The real message here is between the lines: Just as the U.S. government's veiled threat to curb gun sales and/or to adjust the Second Amendment altogether resulted in precisely the opposite reaction to that intended -- that is, a record surge in purchases of all gun-related products -- so India's ever-more-aggressive attempts to curb gold as a monetary equivalent will simply force the population to hoard more gold, result in greater gold imports, using both legal and less-than-legal means, but most importantly lead to a surge in the gold black market as the government's more explicit intervention in the definition of what is and isn't money forces more Indians to seek the safety of the yellow metal." ... Dispatch continues below ... ADVERTISEMENT Fred Goldstein and Tim Murphy open All Pro Gold All-Pro Gold, run by long-time GATA supporters Fred Goldstein and Tim Murphy, offers its services to GATA supporters and anyone else interested in precious metals. The company brokers a full line of precious metals and numismatic coins. It aims to inform prospective clients about the importance of the monetary metals as part of a diversified financial portfolio and to keep prospective clients current with market trends. All-Pro Gold has competitive pricing and ships promptly to clients so they may have physical possession. Learn more by e-mailing Fred@allprogold.com or Tim@allprogold.com or telephone 1-855-377-4653 or visit www.allprogold.com. Zero Hedge's excerpting of and commentary on the RBI report is here: http://www.zerohedge.com/news/2013-01-02/dont-show-bernanke-chart-gold-l... The RBI report is actually pretty realistic. While it encourages the usual paper gold schemes to enable gold to be thought to be in two or more places at once, it also recogizes that the main forces behind India's gold demand are the unreliability of the Indian government's own currency and the age-old inverse relationship between the price of gold and real interest rates, the relationship central banks long have tried to break with their interventions in the gold market. "It is necessary to introduce savings schemes and instruments that can provide real returns," the RBI report says. "The dominant reason why a person may like to hold his savings in gold is to secure a hedge against inflation. Therefore, offering a real rate of return considering the high inflation rate prevailing, as an incentive on a financial instrument, would better address the issue of excessive clamor for gold imports. Therefore, products analogous to inflation-indexed bonds may be considered as alternatives." GATA's researcher R.M. notes a telling detail on Page 58 of the RBI report -- its reliance on Jeff Christian's CPM Group Gold Yearbook 2011 for important data. "Interestingly in the financial markets," the RBI report says, footnoting CPM Group, "the traded amount of 'paper linked to gold' exceeds by far the actual supply of physical gold: The volume on the London Bullion Market Association (LBMA) OTC market and the major futures and options exchanges was over 92 times that of the underlying physical market." That is, the LBMA has discovered mechanisms for making gold seem to be not just in two but 92 places at once. Actually, as GATA's Adrian Douglas has noted, Christian advertised the magical properties of LBMA gold in his crucial testimony at the March 25, 2010, hearing of the U.S. Commodity Futures Trading Commission, where he remarked that the leverage in gold trading in London was even better than 92 to 1 -- around 100 to 1: Will the Indian government resolve to try LBMA-style magic on the Indian people? Will Indians fall for it as most Westerners have? GATA will continue to do what it can to discourage the spread of such gullibility. The RBI report is posted at GATA's Internet site here: http://www.gata.org/files/ReserveBankOfIndiaGoldReport-01-2013.pdf CHRIS POWELL, Secretary/Treasurer Join GATA here: Vancouver Resource Investment Conference * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Opinion Around the World Is Changing When Deutschebank calls gold "good money" and paper "bad money". ... http://www.gata.org/node/11765 When the president of the German central bank, the Bundesbank, pays tribute to gold as "a timeless classic". ... http://www.forbes.com/sites/ralphbenko/2012/09/24/signs-of-the-gold-stan... When a leading member of the policy committee of the People's Bank of China calls the gold standard "an excellent monetary system". ... http://www.forbes.com/sites/ralphbenko/2012/10/01/signs-of-the-gold-stan... When a CNN reporter writes in The China Post that the "gold commission" plank in the 2012 Republican platform will "reverberate around the world". ... http://www.thegoldstandardnow.org/key-blogs/1563-china-post-the-gop-gold... When the Subcommittee on Domestic Monetary Policy of the U.S. House of Representatives twice called on economist, historian, and gold standard advocate Lewis E. Lehrman to testify. ... World opinion is changing in favor of gold. How can you learn why and what it will mean to you? Read the newly updated and expanded edition of Lehrman's book, "The True Gold Standard." Financial journalist James Grant says of "The True Gold Standard": "If you have ever wondered how the world can get from here to there -- from the chaos of depreciating paper to a convertible currency worthy of our children and our grandchildren -- wonder no more. The answer, brilliantly expounded, is between these covers. America has long needed a modern Alexander Hamilton. In Lewis E. Lehrman she has finally found him." To buy a copy of "The True Gold Standard," please visit: http://www.thegoldstandardnow.com/publications/the-true-gold-standard
This posting includes an audio/video/photo media file: Download Now | ||||
Posted: 02 Jan 2013 03:11 PM PST [url]http://www.traderdannorcini.blogspot.com/[/url] [url]http://www.fortwealth.com/[/url] While both gold and silver had nice days today, they both made their best levels earlier in the session. The rest of the session was pretty much spent going nowhere and fading off their highs. Try not to read too much into any of these markets, with a few exceptions, based on one day's performance. What we are witnessing is both a combination of relief buying associated with a miserable, rotten piece of legislation that will accomplish nothing except to ACTUALLY INCREASE THE DEFICIT but has temporarily served to asssuage fears overs the so-called "fiscal cliff" and the fact that hedge fund managers are committing lots of brand new money into the markets to start off the year. This positioning or allocation of hot money is going to come in regardless of the fundamentals in those markets which have been selected by the hedgies as the go-to investments for the New Year. In the grains, a host of t... | ||||
Posted: 02 Jan 2013 02:55 PM PST (Interviewed by Louis James, Editor, International Speculator) L: So Doug, the world didn't end in 2012, so it's onward into another new year. It's time to tune in to your guru-vision and tell us what trends you see shaping up and what actions they imply taking. Doug: Yes, it looks like the Mayans missed this one; perhaps they'll get another kick at the cat a few millennia from now when it's once more time to turn the page on their calendar. Better luck next time, Mayan astrologers! But although nothing seems to be happening on that front, it's appropriate that I'm speaking to you from Punta del Este in Uruguay, which is one of the most happening places in the world at this time of year – North American and European winter, South American summer. I went to a New Year's Eve party last night with some rather interesting temporary denizens of the place, and of course this was the subject of much conversation. None of them happened to be American, incidentally, and all but one – who is very involved in local politics – is extremely bearish on 2013. L: Do you mean bearish on the global economy? Bearish on geopolitics? Or bearish on civilization itself? Doug: All of the above. A "Mad Max" type outcome is definitely a possibility, as much as I hate to anticipate something really serious – as opposed to just a financial/economic meltdown. But the West has a huge amount of accumulated capital that it can still dissipate – a task the politicians are working on diligently. I expect the US will get a VAT, and/or an asset tax. Perhaps they'll take a page from Cristina Kirchner's book and nationalize everyone's pension – for the good of the government, as well as the safety of the pensioners, of course. In the near term, we're looking at increased tensions of every kind around the globe, and greater market volatility. By the way, we enjoyed a professional-grade fireworks display put on by our host in his back yard. It struck me that I was witnessing exactly the kind of freedom that makes me like living down here so much, and makes me dislike returning to the US. In the US, you'd have to be a city to put on that kind of fireworks show, or go through God-know-what sort of licensing to get the explosives involved. The smell of gunpowder at midnight is most invigorating, especially mixed with the smoke of Cuban cigars. I'm not saying Uruguay is totally free, especially not economically – the president is actually a communist. But he's a surprisingly mellow communist, and not at all corrupt. Most unusual, actually. He lives on a small farm and drives an old car. Of course the things he's doing – raising welfare benefits, eliminating financial privacy, initiating an income tax, and letting petty thieves run wild, among many other things – are making the place much less desirable to hang out. L: So, aside from economically stupid laws, they let people do pretty much as they will with their personal lives? Doug: That's the good news. It's a quiet, unambitious, backward, bureaucratic little country. But they still pretty much leave you alone. And strange things can happen. At the party I mentioned, a friend who mostly lives in Argentina told me about what was in Sunday's El Pais, the national paper. It turns out that a top local politician – most of whom are socialists or ex-communists – just discovered Frederic Bastiat's book, The Law. He was so taken with the free-market ideas in it, he had the entirety of the book published as an insert in the paper, at his own expense. I don't know how many people will actually read it, and I doubt it will have much effect, but as a possible straw in the wind, it's pretty interesting. Shocking, actually. L: A hundred years ago you might have seen a copy of The Communist Manifesto, so perhaps the pendulum will swing back in our direction in the next hundred years. A good reminder that it's important to internationalize both one's assets and one's lifestyle. It's hard to predict what will happen in any given country, although the trend is going from bad to worse just about everywhere. Doug: Yes; as the Greater Depression deepens, governments all around the world are going to get increasingly desperate, take increasingly stupid measures, and the people on the bottom rungs of the ladder – the very ones the governments will claim to be helping – are going to get pushed off in greater and greater numbers. That's going to make for more social unrest, vandalism, and violence all around the world. It's wise to find a crib away from likely epicenters of turmoil. You still have to look at the world objectively, and prepare to be, or move to wherever there's the least trouble on the ground, among the places you actually enjoy being in. This is especially so for Europeans and their cousins in the US, where things are deteriorating fast. L: So, what are your own reasons for bearishness? Doug: I'm exceptionally bearish because we've been in the eye of this hurricane for going on three years. It seems to me that the bigger the eye of the storm, the bigger the storm must be. We are definitely heading for the trailing side of the hurricane soon. And it will be vastly bigger, and last much longer, and be much different than the leading edge. I can't emphasize enough that all these trillions of currency units that governments all around the world are printing up by the truckload… L: Or helicopter load. Doug: [Chuckles] Yes, well, bank-wire load, as it were, these days. They no longer need to bother with the printing press; they can just create more out of nothing with the stroke of a key. All that cash in the US, the EU, Japan, and elsewhere is going to come out of the banks where it's sitting at some point, and the inflation that's been masked so far will kick into a much higher gear. Take Uruguay, for instance, which is actually a very expensive country – to go out to dinner here in Punta del Este costs considerably more than in the US. When I first came here, things were very cheap. I've seen the same thing in New Zealand, Hong Kong, Spain, and other markets in which I've made a lot of money in real estate, based on the same trend. This is happening all over the world. The US has been so successful at exporting its inflation – abusing the reserve currency status of the US dollar – that it's become a relatively cheap place to live, at least among the more developed nations. The local symptom of this global sickness is that here in Punta, very expensive condominium buildings are popping up all along the coast, spreading faster than dandelions in springtime. Nobody lives in most of them, though some are occupied for a month or two in the summer, and yet, year-round you have to pay maintenance and security costs of at least $2,000, and sometimes $3,000 or $4,000 per month. The only reason people would pay that kind of money to maintain empty condos, as far as I can see, is to hide money. L: Why do they need to hide it? Doug: Each will have his own reasons. Sadly, Uruguay is no longer the Switzerland of South America it once was. There was once no income tax here and financial privacy – which no longer exists anywhere. A government run by ex-communists destroyed all that. That was shooting themselves in the foot, of course. But real property rights are still pretty strong here, so people are building all these condos as a place to stash money in the form of bricks and mortar. Unfortunately, I don't think it will work out for them, because as the global Greater Depression deepens, people are going to have to start liquidating them, and the local market is going to crash. The monthly maintenance costs plus a need to retrieve the invested capital is going to result in a wave of selling. A lot of people are going to get burned. Not just here – almost everywhere. As my friend Richard Russell has said, in a depression everybody loses. The winner is the one who loses the least. L: Maybe you can let us know when that happens – sounds like it will be a great contrarian buying opportunity at that time. Doug: Sure. Most people will be too nervous to act, but I keep an eye on several real-estate markets for just that sort of contrarian opportunity. Meanwhile, I may just head for the exits now myself, not wanting to be unable to liquidate the real estate I've got in Uruguay later. At any rate, I view this developing situation as an example of what's brewing in many markets all around the world. L: Can you give us more specifics? Doug: I think the most important thing to bear in mind is that we are approaching the absolute peak of the bond bubble, which has gotten vastly bigger than I ever imagined it could. Interest rates in the developed economies around the world are two percent, one percent, or even negative. This is fueling a bond bubble of truly catastrophic proportions. When it bursts, it will be an order of magnitude worse than the tech stock-market crash of 2001 or the real-estate bubble that burst in 2008. When this one goes, it won't just wipe out the people who thought they were being prudent savers. Because it's a financial market, it will also hit stocks and real estate again, at least in Europe and the US. Here in Uruguay and places like Argentina, real estate is largely a pure cash market. But in the so-called more developed economies, real estate still floats on a sea of debt. It amazes me that people in the US are elated because the real-estate market is supposed to be up 4.3%, as of the latest figures. Well, of course it is; you can borrow money for effectively zero, given where interest rates and inflation are. L: Is that a sign of the bulging piles of money banks have been sitting starting to leak out into the economy? Doug: Looks that way. And when interest rates start rising steeply, as they'll have to do once inflation sets in, rising to double digits as they were in the 1980s, it will crush real estate further and deeper than we've seen so far. It will do so all around the world, but the US will be hardest hit, I think. There's no question in my mind: the bond bubble is by far the largest distortion we're facing in the economy today. Bonds are incredibly dangerous, insanely risky speculations today. They're reward-free risk. Bond owners are facing huge default risk, huge interest rate risk, and huge inflation risk. But nobody seems to see it or talk about it. L: I understand. But honestly, Doug, you've been saying that for a while. What makes you think this will be the year the bond balloon finds the pin it's been searching for? Doug: You're right – that particular bubble should have found its pin two or three years ago. I admit I thought it'd pop last year. It's like watching a clown over-inflate a balloon; the longer he inflates it, the more you wince, because you know it's going to blow up in his face. And the longer it takes, the closer the inevitable comes to being imminent – and the bigger the explosion becomes. It would have been so much better if the idiots who run the US government had allowed the market to fully liquidate past mistakes and distortions back in 2008. If they'd let all the big banks, brokers, hedge funds, and corporate welfare junkies fail, it would have been very unpleasant, but the country could have survived it, and come out stronger and with a healthier balance sheet as a result. The real wealth – buildings, farms, technologies, the skills of workers – would still be there. And the financial elite would have been wiped out – which would have been a good thing. But instead, they've ensured that the rich have gotten even richer, guaranteed by the government. They tried to drown a fire with a flood of gasoline, and it's going to burn the country down. You know the old saw about not predicting both an event and its timing, but I don't see how this thing can go beyond 2013. L: Well, you were right about the politicians in Washington preferring to compromise than to allow the fiscal cliff to hit the fan, so maybe you're right about this one too. So, we should beware of the bond bubble bursting. Beware of real estate getting crushed when interest rates go up. What about stocks? Wouldn't a lot of money fleeing falling bonds go into the stock market? Doug: Yes, a lot would, but a lot of companies would be failing as well, so I'm ambivalent about equities in general. Earnings could collapse. Companies with many millions – or even billions – in cash on their balance sheets could still get hit fast and furious by high inflation. P/E ratios are not low these days; Wall Street is not a bargain. So I'm generally neutral to bearish and therefore out of the stock market. That's the best policy when you can make an equally compelling case for something going up or down. L: That's exactly how I see copper and the other base metals these days. But gold is another matter. Doug: Of course. And even though gold has hit new highs in nominal dollar prices, gold has still not matched its previous peak in inflation-adjusted dollars. Really, in practical terms, nobody knows or cares about gold yet. The average guy doesn't even know it exists – and the average guy on Wall Street thinks it's only good for paperweights, of which the world already has a surplus. L: Gold is cheap at $1,670? Doug: No. But it's got to go higher. The fact is that precious metals are the only financial assets that are not simultaneously somebody else's liability. The huge counterparty liability in today's markets has yet to make itself evident, but it will – it's in the hundreds of trillions. That's what the derivatives that Buffett has been talking about for a decade are all about. That makes the best single speculation I can think of today gold and silver mining stocks. For the last two years, gold stocks have been getting cheaper, even though gold has continued rising, year-on-year. That makes these stocks a better deal than they've been for many years. And it's such a tiny little market, the upside when the larger world catches on will be breathtaking. My sense, based on watching these markets for 40 years, is that we're coming up on an explosion of resource stock prices of historic proportions. The kind of stocks you and Jeff cover are absolutely the place to be. [Ed. Note: Doug is talking about the BIG GOLD and Casey International Speculator portfolios.] L: The data support you on that. If you adjust for inflation by looking at the price of gold stocks in terms of gold, they are selling for less than they have for years – almost as low as during the crash of 2008, or even back in 2001, before this bull cycle for metals got going. Doug: They are now extremely high-potential and relatively low-risk speculations – despite mining being a crappy, 19th-century choo-choo-train industry. L: [Laughs] I used that phrase of yours in the International Speculator coming out Thursday and make the same point. Doug: You provide a shopping list? L: Of course. Jeff's got one in BG too. Doug: Good. This may be the last chance for people late to this bull market to get in at prices similar to what they could have paid before it got going. And as a matter of fact, gold was cheaper in real terms back in 2001 than it was at $35 per ounce back in 1971. People seem to have forgotten that these are the most volatile stocks on the planet. There have been a half-dozen markets I've personally seen over the years where junior miners and explorers went up 1,000% as a group. Perversely, people are afraid to buy these stocks now – L: The very reason they should; you have to be a contrarian to buy low and sell high. Doug: – at precisely the time when they should. I promise you, when the Mania Phase of this gold market kicks in, everyone will be piling in, and it will drive share prices not just through the roof, but to the moon. Then they'll collapse 95% later, of course, the way they always do. But now is the time to buy them. However, since there are several thousand of them, it's critical to be highly selective. L: Well, if speculating when others dare not were easy, everyone would do it, and there would be no speculative opportunity, so of course I agree. But back to 2013 – if you don't think the global economy will collapse this year, can you say when? Doug: As I said last time, 2013 is going to be ugly, but it will just be a warmup for 2014. Back at the New Year's party I went to here in Punta del Este, I asked my best friend down here the same question. He's very rich and very shrewd. He's of the opinion that the world will see catastrophic events of historic proportions – not just one, but several – over the next ten years. I think he's right, and that brings us back to another point we started with: I cannot stress strongly enough that anyone who hopes to survive financially, and perhaps even physically, needs to internationalize. L: There's the Mr. Cheerful we all know and love. Doug: Hey, I'm looking at the bright side… L: Okay then. Thanks, and we'll talk again next week – and soon in person, in Vancouver. If you've never heard Doug Casey speak in person, now's your chance – he'll join a star-studded cast of natural resource and financial experts who will be presenting at the Vancouver Resource Investment Conference January 20-21 – it's the world's largest investor-focused, resource-exploration conference. Doug will also be signing copies of his new book, Totally Incorrect. Other Casey Research presenters are Chief Mining and Investment Strategist Louis James; Chief Energy Investment Strategist Marin Katusa; Senior Precious Metals Analyst Jeff Clark; and CEO Olivier Garret. On the evening of January 21, there will be a VIP event for Casey's Club members and our NextTen and Explorer's League honorees (details to come). This is one event you don't want to miss – you're guaranteed to walk away with actionable investment strategies that will put you in perfect position to profit from the coming boom in natural resources. Click here for registration information. | ||||
Posted: 02 Jan 2013 02:41 PM PST 2 weeks ago, I wrote the following: Despite the recent strength in Palladium, PAL (North American Palladium) has been acting very weak… It's only 2 cents away from the November Low, and it looks like this will be broken. For now, I sit tight. –> Well, we got exactly that… A lower low ($1.15 to be precise), which was not accompanied by a lower low in RSI…
PAL is seriously undervalued in my opinion, and is a prime takeover target. However, later this month or early next month we will get an update on the expansion plans for 2013, maybe a sale of the Gold division, and likely a new CEO and CFO. Any good news could easily push PAL towards and above $2, which could be the start of the bigger move I expect. However, short term, I expect to see some weakness in palladium prices… Although it has broken through $700 now, it is setting negative divergence on a daily chart… Time will tell…
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Posted: 02 Jan 2013 02:17 PM PST January 2, 2013
"The United States averted economic calamity on Tuesday," reports Reuters with a straight face. We begin the new year dying to edit this news headline. Here's our version: "The United States postponed certain economic calamity on Tuesday." Alas, we haven't understood the term "fiscal cliff" since we first looked up the term anyway. Only in Washington are measures intended to restore fiscal sanity considered a threat. Best we could tell at the time: Fiscal cliff is "a term Democrats apparently wield to scare voters into thinking they'd be better off with higher taxes." To no one's surprise, the White House and Congress did just that. The House signed a version of the Senate's bill late last night. The president added his John Hancock. And… your taxes will go up. [Ed Note. We had intended to begin the year by taking a look at our 2012 forecasts and stacking them up against reality. Unfortunately, the narcissism of our political process has once again overwhelmed our schedule. Back tomorrow... with a proper look at how the year panned out. And a look at what you can expect in the new year.] In the meantime, as the can clamors down the scree, let's calculate the damage. Apologies in advance if you're still suffering a pernicious New Year's hangover:
The employee portion of the payroll tax reverts to the pre-2011 rate of 6.2%. That means taxes will rise for 77.1% of U.S. households, according to the Tax Policy Center. At least the Social Security "trust fund" will get a few more worthless IOUs, so it's all good, right? What about spending cuts, you ask? Heh. $30 billion in spending was added: Extended unemployment benefits — the straight-up welfare program that kicks in after the 26 weeks of insurance runs out — will carry on for another year. At least we're guaranteed a few more political "showdowns" before the first blossoms of spring. Otherwise, what would we do with our time? The $110 billion in automatic spending cuts that were supposed to kick in yesterday — the "sequester" that was part of the summer 2011 debt ceiling deal — have been put off till the end of February. A "continuing resolution" — quick-fix legislation to cover for the fact lawmakers can't draw up a real budget — expires on March 27. If you have an excellent memory — or a government contract — you will recall the last of those items nearly triggered a "partial government shutdown" in the spring of 2011. We should be so lucky. While all this was going on, the government unceremoniously bumped up against the debt ceiling again on Monday. Or so Treasury Secretary Timothy Geithner says: Treasury's own website is updated only through last Friday. It pegged the national debt at $16.336 trillion — $58 billion below the ceiling of $16.394 trillion. The Treasury is now resorting to borrowing from government pension plans, as they did 18 months ago, to make ends "meet." Ha. Ha. Ha. "Apart from doing little to reduce our long-term deficit and debt," reads a press release that landed in our inbox this morning. It's from (yet another) Washington advocacy group; this one assembled to speak on behalf of Millennials — the 20-somethings who are going to be left with the bill. On the advisory panel… our friend David Walker, protagonist of I.O.U.S.A. "The 'deal' fails to adequately address the biggest problem facing young people today: unemployment stemming from an uncertain economy.
"Until Washington can come up with a real deal to fix the debt, we are left to assume that by the time it's our turn to be in charge, so much of the money coming in will be going to pay down past spending that we'll have no way to confront the unknown challenges of the future." Worse yet, "in 2013, tax rates will go up on high-income households… but tax receipts will fall," notes our macro strategist Dan Amoss. "If politicians want economies that aren't addicted to constant stimulus, they're following the wrong playbook. Deficit spending and money printing ultimately destroys the middle class. Inflation will eat up any benefits from redistribution of income through the tax code." Indeed, says Dan, "many businesses will intentionally depress their taxable income. One way to depress 2013 income is to withhold the reinvestment of last year's income in the business. The productive capacity of the economy will suffer." A depressing prospect… but there's still a way to play that trend for profit. And it doesn't involve anything complicated like options or short selling. We describe it below in today's 5 Min. Forecast PRO — our new "sixth minute" that delivers actionable advice on The 5′s analysis. As you may know, we've been beta testing the 5 PRO for the past couple weeks. "I've looked forward to The 5 every day for years," writes one reader of our effort, "and now I enjoy it even more. I think The 5 Min. Forecast PRO is great! In fact, I can't imagine that you could possibly be getting any negative feedback about the new PRO format." "The new 5 Min. Forecast PRO is," writes another, "an interesting and informative addition to an already very good group of advisories." Starting tomorrow, we're going to give you an additional chance to offer praise… or suggestions for improvement. If you're a current reader of The 5, you'll automatically be entitled to two weeks of The 5 Min. Forecast PRO — for free! Watch your inbox for the formal announcement later today. The way Wall Street's rallying today, you'd think Congress had accomplished something more profound than putting an infected Band-Aid on a gaping wound. But it is what it is: As we write, the Dow has topped 13,300 and the S&P sits at 1,450. "Cash holdings, a drag on returns for pros when the market is in rally mode, are likely to get put to work," wrote Fusion IQ chief and Vancouver favorite Barry Ritholtz anticipating a rally before the open. "Much of the panicky selling that was in anticipation of much higher capital gains and dividend taxes will also be redeployed back into equities." For the record, the Dow ended 2012 up 7%… the S&P gained 13%… and the Nasdaq added 16%. For no obvious reason, gold spiked big around lunchtime on Monday… locking in a 7% increase for the year. This morning, precious metals are sharing in the general "risk-on" trade: Gold is up to $1,693, silver to $31.43. Crude is also rallying; at $93.61, West Texas Intermediate sits at a level last seen in mid-September. Still it's about $10 cheaper than it was when 2012 began. The spread between WTI and Brent remains substantial. At last check, Brent was trading for $112.39… almost $20 more expense than the locally brewed stuff. The spread between WTI and Brent kicks off the year reflecting the boom in energy production here in the U.S. versus the lack of fracking technology in the North Sea. U.S. factory activity is back in growth mode. The ISM manufacturing survey clocked in this morning at 50.7. The index has spent the last six months jumping around the 50 dividing line between expansion and contraction. As the new year dawns, it seems even terrorists are beginning to appreciate the value of real money. On Monday, an al-Qaida offshoot called al-Qaida in the Arabian Peninsula (AQAP) offered a bounty on the head of the U.S. ambassador to Yemen… payable in gold. AQAP is offering 3 kilograms of gold — worth about $160,000 — for killing ambassador Gerald Feierstein. The group is also offering $23,000 payable in Yemeni riyals for any U.S. soldier killed inside Yemen; there's a small detachment of troops there serving as "advisers." The town that witnessed the first live rounds fired during the American Revolution now has the distinction of being the first city in the country to… (drumroll)… ban single-serving plastic water bottles. As such, they top a sampling of things you're no longer allowed to do in 2013. Effective yesterday, the sale of plain drinking water in plastic bottles of one liter or less is banned in Concord, Mass. An environmental menace, supporters of the ban argued — an argument that, uh, carried water with a slender majority at a town meeting last year, 403-364. "Local government and special interest groups should not be dictating to residents what they can eat, drink and buy," objects Concord resident Adriana Cohen. "Those are core civil liberties that should not be encroached. Especially in a free-market economy driven by consumer choice." Free market? Consumer choice? How quaint. "There are still so many choices [people] can make," says Jill Appel, a supporter of the ban, "and that this is just a very small thing." And that's how it starts. In Illinois, shark fin soup is now verboten. As we noted last year, a ban already exists in California and Oregon.
Oh, and… say goodbye to the 75-watt incandescent light bulb.
Hope you love the blinding glow of white halogen as much as we do. The meddlers are even trying to destroy the ambiance of your living room! (If you're being subjected to a new petty regulation or bureaucratic nuisance, we'd love to add it to our list: please write us here.) "One of your recent items brought to mind my experience with our local city council a few years back," writes a reader, quick on the draw. "I planned to tear down my older residence and replace it with a duplex and had the plans drafted professionally and submitted to the town planners for a building permit. At their once-a-month meeting, the powers that be examined the plans and my permit was denied because the draftsman had drawn in a bush and a fence to enhance the picture. "The plans were not permitted but returned to me with the bush and fence circled with handwritten comments. What kind of bush is this? What type and material is the fence made of? "I went the mayor's office. He agreed the permit failure was ridiculous. He called a special meeting and the plans were OK'd." The 5: Who says government can't work for the people? "I saw repeated reference," writes a reader haplessly trying to follow the fiscal cliff debate over the holidays, "to trimming and/or controlling the entitlement programs of Social Security and Medicare, effectively at gunpoint. I paid dearly for these programs." "It seems to me," the reader goes on, "that through the years, actual entitlements were added to Social Security and Medicare — welfare without having to declare welfare or fund it (except, of course, for the poor schlubs who had to actually pay into the system). Widows and orphans who get benefits without ever having made a direct or indirect contribution to the system. The rapidly rising disability claims from those who have never paid, directly or otherwise, into the system. "Strip these entitlements out of Social Security and Medicare and put them into a welfare program that can be dealt with as entitlement without messing with Social Security and Medicare. I wonder what would be the impact of such a long-overdue adjustment." The 5: We may never know. The programs are untouched in the bill signed by the president. Not even "chained CPI" (intended to further reduce the cost-of-living adjustment for Social Security) made it through. Cheers, Addison Wiggin P.S. "I always read The 5," writes a Platinum Reserve member who's been beta-testing our new PRO edition, "and would recommend it to anyone. Adding the 5 PRO only enhances an already fantastic publication." Thank you if you are among the Reserve members who offered feedback over the last two weeks. Today, we're ready to roll out The 5 Min. Forecast PRO to everyone. Watch your inbox to learn how you can get it the 5 Pro free of charge for the next two weeks — details are on the way. | ||||
Posted: 02 Jan 2013 02:12 PM PST America will endure until the day Congress discovers that it can bribe the public with the public's money - Alexis de TocquevilleI mentioned twice in November that the Fiscal Cliff would be averted with a last minute deal that would postpone America's budgetary day of reckoning. And of course the clowns in Congress and in the White House once again did not fail to disappoint. I just came across a fact about that new agreement that you will definitely NOT see mentioned in any of the mainstream media - yesterday's deal included an extenstion of a big tax break for Hollywood: Movie Mogul Tax Break and for Warren Buffet: And For Railroad Owners The latter will benefit Phil Anschutz, Denver's local zillionaire. I guess Buffet's big fundraising dinners for Obama paid off nicely. I'm sure Phil takes care of the The Big O as well. At any rate, I wrote piece published on Seekingalpha that explains why yesterday's Cliff deal will help grease the set-up for the next big run in gold/silver: "the Fiscal Cliff deal will now lead to a much higher Treasury debt limit ceiling - if not the complete elimination of it, which has been proposed by Obama - and a much higher level of QE. How do you invest knowing this ahead of time?" Here's the LINK Next on deck will be the dealings over the debt ceiling limit, which was breached in late December. You can be sure that Congress will pass a huge ceiling raise, if not a total elimination of the ceiling, because otherwise they won't get their paychecks and Harry Reid, John Boehner and Nancy Pelosi will have to furlough their limo drivers... | ||||
Gold Daily and Silver Weekly Charts - 'Why the American People Hate Congress' Posted: 02 Jan 2013 02:09 PM PST This posting includes an audio/video/photo media file: Download Now | ||||
At least India's government admits its war on gold and wages it in the open Posted: 02 Jan 2013 01:43 PM PST India's Finance Minister Says Current Account Deficit Is Worrying, Eyes Gold Curbs By Manoj Kumar and Siddesh Mayenkar http://in.reuters.com/article/2013/01/02/india-gold-chidambaram-imports-... India's record current account deficit is "worrying," Finance Minister P. Chidambaram said on Wednesday, and hinted at cutting gold imports to bolster weak external accounts that have brought back memories of a 1991 currency crisis. Data on Monday showed the deficit widened to 5.4 percent of gross domestic product (GDP) in the September quarter, driven by falling exports. The gap, the widest in absolute terms since 1949, has weakened the rupee currency and exposed the economy to costlier imports. "While the current account deficit is indeed worrying, I think it is within our capacity to finance," Chidambaram told reporters. He said he was considering reining in imports of gold, used as an investment tool by Indians but which mean a drain on foreign currency reserves. ... Dispatch continues below ... ADVERTISEMENT How to profit in the new year with silver -- Future Money Trends is offering a special 16-page silver report with our forecast for 2013 that includes profiles of nine companies and technical analysis of their stock performance. Six of the companies have market capitalizations of less than $800 million and one company has a market cap of only $30 million. The most exciting of these companies will begin production in a few weeks and has a market cap of just $150 million. Half of all proceeds from the sale of this report will be donated to the Gold Anti-Trust Action Committee to support its efforts exposing manipulation and fraud in the gold and silver markets. To learn about this report, please visit: http://www.futuremoneytrends.com/index.php?option=com_content&id=376&tmp... "We may be left with no choice but to make it a little more expensive to import gold," Chidambaram said. He however, declined to elaborate. The government could increase the import duty on gold by 1-2 percentage points, though no decision had been taken, a senior finance ministry official told Reuters. In 1991, the current account deficit hit 3 percent of GDP and India came within weeks of running out of foreign currency. It was forced to airlift some gold stocks to Europe to secure loans, a humiliating situation that helped bring down a government and usher in free market reforms. This time, the economy is far bigger and more open, and Chidambaram said foreign investment flows should be able to finance the deficit without drawing on hard currency reserves of $296.5 billion, enough for about seven months of imports. Even so, worries over India's external accounts, borrowing and fiscal deficit have led global ratings agencies Standard & Poors and Fitch to threaten downgrading its credit to junk. Faced with the prospect of fighting elections in 2014 on the back of the weakest economic growth in a decade, high inflation and a possible sovereign downgrade, in September, Prime Minister Manmohan Singh -- a veteran economist who oversaw the 1991 reforms -- launched controversial new measures to free up the economy, including inviting investment from foreign supermarkets. "I would like to once again underscore the crucial importance of FDI and FII," Chidambaram said, referring to foreign direct investment and foreign institutional investment. "As I have said before, attracting foreign funds to India has become an economic imperative." Since September, the government has raised limits on how much corporate and government debt foreign investors buy, but the widening deficit has faced headwinds from expensive oil, high gold imports and a sharp drop in exports. Chidambaram said gold imports at $20.25 billion substantially contributed to the widening of the current account deficit -- $38.7 billion or 4.6 percent of GDP in the first six months of the current fiscal year ending in March. "Suppose gold imports had been one half of the actual level, that would have meant our foreign exchange reserves would have increased by $10.5 billion," he said. In the April-November period, India's total exports contracted by nearly 6 percent from a year earlier, leaving a trade deficit of nearly $130 billion. Worried by the ballooning deficit, the government in March doubled the import duty on gold to 4 percent. Gold is the biggest contributor to the import bill after crude oil and is easier to tame than energy supplies. Chidambaram said he expected gold imports to touch $40 billion in the current fiscal year to end-March, down 31 percent from the year-ago bill of $58 billion. "As it is demand is lower and this could dent demand for gold further," said Gnanasekar Thiagarajan, director of Commtrendz Research in Mumbai. Recently, Reserve Bank of India executive Director Deepak Mohanty urged investors to shift from physical gold as a hedge against rising prices to financial products like inflation-linked bonds. India's gold imports rose 9 percent to 223.1 tonnes in the September quarter, after a 56 percent fall in the June quarter to 131 tonnes. Analysts predict a recovery in the December quarter due to peak festival- and wedding-season buying. Join GATA here: Vancouver Resource Investment Conference * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT GoldMoney adds Singapore vaulting option In addition to its precious metals storage facilities in Hong Kong, Switzerland, Toronto, and the United Kingdom, now with GoldMoney you can store gold and silver in Singapore in a high-security vault operated by Brink's Singapore Pte Limited. To celebrate the launch of this storage option, GoldMoney is offering a discount on buy and exchange fees at this vault for any orders above US$10,000 (or the equivalent) until January 11, 2013. Tthe gold buy rate is 0.98%, while the silver rate is 1.99%. Metal exchanges into Brink's Singapore will also be discounted for this period and will be charged at 0.78% for gold and 1.75% for silver. Simply place your order online and the above rates apply automatically until January 11, 2013, 15.00 UK time. To find out more about the new vault, please visit: http://www.goldmoney.com/singapore?gmrefcode=gata GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults. It's easy to open an account, add funds, and liquidate your investment. For more information, visit: http://www.goldmoney.com/?gmrefcode=gata | ||||
Gold To Break $2,000 & Global Rush Into Silver Will Continue Posted: 02 Jan 2013 01:39 PM PST Today a legend in the business told King World News, "This rebound in gold is only the start of a much larger move, as gold will now go through $2,000." Keith Barron, who consults with major gold companies around the world and is responsible for one of the largest gold discoveries in the last quarter century, also discussed Europe, the US, Latin America, and spoke with KWN about what he sees happening with silver in 2013. Here is what Barron had to say: "Well, we've just seen the so-called fiscal cliff avoided. All they have done is kick the can down the road, and in February we will hit the debt ceiling once again. So the net result of all of the political shenanigans over the last couple of weeks has been an addition of over $30 billion to the money supply." This posting includes an audio/video/photo media file: Download Now | ||||
Grandich offers forecast for 2013; Canadian metals dealer supports Liberty Dollar founder Posted: 02 Jan 2013 01:35 PM PST 3:30p ET Wednesday, January 2, 2013 Dear Friend of GATA and Gold: In his 2013 forecast, market analyst and mining company consultant Peter Grandich calls 2013 "the year the chickens come home to roost." If he's right they'll be wearing gold ribbons. Grandich's commentary is posted at his Internet site here: http://www.grandich.com/2013/01/2013-the-year-the-chickens-come-home-to-... Meanwhile, Canadian gold dealer Tolling Jennings appeals to the U.S. District Court judge before whom Liberty Dollar founder Bernard von Not Haus awaits sentencing for what the U.S. attorney for the Western District of North Carolina calls counterfeiting -- putting commodity money back in circulation: http://lqmint.com/tolling-on-liberty-dollar-2/ CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT GoldMoney adds Singapore vaulting option In addition to its precious metals storage facilities in Hong Kong, Switzerland, Toronto, and the United Kingdom, now with GoldMoney you can store gold and silver in Singapore in a high-security vault operated by Brink's Singapore Pte Limited. To celebrate the launch of this storage option, GoldMoney is offering a discount on buy and exchange fees at this vault for any orders above US$10,000 (or the equivalent) until January 11, 2013. Tthe gold buy rate is 0.98%, while the silver rate is 1.99%. Metal exchanges into Brink's Singapore will also be discounted for this period and will be charged at 0.78% for gold and 1.75% for silver. Simply place your order online and the above rates apply automatically until January 11, 2013, 15.00 UK time. To find out more about the new vault, please visit: http://www.goldmoney.com/singapore?gmrefcode=gata GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults. It's easy to open an account, add funds, and liquidate your investment. For more information, visit: http://www.goldmoney.com/?gmrefcode=gata Join GATA here: Vancouver Resource Investment Conference * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT How to profit in the new year with silver -- Future Money Trends is offering a special 16-page silver report with our forecast for 2013 that includes profiles of nine companies and technical analysis of their stock performance. Six of the companies have market capitalizations of less than $800 million and one company has a market cap of only $30 million. The most exciting of these companies will begin production in a few weeks and has a market cap of just $150 million. Half of all proceeds from the sale of this report will be donated to the Gold Anti-Trust Action Committee to support its efforts exposing manipulation and fraud in the gold and silver markets. To learn about this report, please visit: http://www.futuremoneytrends.com/index.php?option=com_content&id=376&tmp... |
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