Gold World News Flash |
- Why Isn’t Gold Higher?
- Financial Drones
- Asian Metals Market Update
- Hollande’s problem
- 22 Signs That Barack Obama Is Transforming America Into A Larger Version Of North Korea
- Coming Short Squeeze In Gold To Shock The World
- Where Am I Supposed To Store All This Gold and Silver
- US and Canadian Mint Start Rationing Silver Coins
- Broad Perspective - SP500, Gold, Miners and USD
- Jay Taylors Top Picks 2013 – YouTube
- ‘We've Lost Our Sovereignty To City of London Banks' – Harley Schlanger
- Where Am I Supposed To Store All This Gold and Silver?
- Thomas Paine on war, commerce, government, and paper money
- Insights on the “Debt Ceiling” that Perhaps You Didn't Know
- American Silver Eagle Bullion Coin Sales Soar To All Time Record High
- Silver Shortage? What Silver Shortage?
- Silver Eagle Sales Surge To All-Time Record In January
- Germany's gold at NY Fed may be impaired, Centennial's analysts agree
- GATA favorites to speak at SilverSeek's online conference Thursday
- The Gold Price Remains in Primary Uptrend Rising $7.90 to Close at $1,660.80
- Gold On Verge of Another MAJOR Down Leg ? Here?s What to Do Now
- Past Bubble Movements Suggests a Parabolic Peak Price of $9,000 for Gold & $250 for Silver Is NOT Unreasonable ? Take a Look
- Debate: Are the Rich Taxed Enough in the United States? – YouTube
- Ask The Expert With Peter Spina – YouTube
- The Farce Must Go On: Senate Suddenly Furious With Eric Holder For Allowing Banks To Become "Too Big To Jail"
- Get Ready NOW For A New Bull Run In GOLD! By Gregory Mannarino – YouTube
- Guest Post: The Siren Song Of The Robot
- Gold On Verge of Another MAJOR Down Leg – Here's What to Do Now
- Two major Swiss banks nudge customers into allocated gold
- Zimbabwe's Total Cash On Hand: $217.00
- Fed can't stop monetizing and so will boost gold, Pacific Group's Kaye says
- Rob Kirby: Ted Truman talks turkey
- New York Sun: The fiat Dow
- Jeff Clark: Two chess moves away from capital controls
- Astonished gold market analysts note FT's praise for GATA
- Gold Seeker Closing Report: Gold Gains and Silver Surges
| Posted: 30 Jan 2013 08:00 AM PST My colleague and erstwhile nemesis Gonzalo Lira posed the question above in a recent essay, and it is indeed a most puzzling one. Given that the world's central banks — joined most recently by a shockingly reckless Switzerland — are waging all-out economic war by inflating their currencies, shouldn't gold be soaring,? In fact, prices have continued to meander between $1500 and $1700 since September of 2011, when gold topped out at $1945 after a spectacular run-up from $728 in just three years. |
| Posted: 30 Jan 2013 01:00 AM PST by Dan Denning, Daily Reckoning.com.au:
First, the news story…About two weeks ago Wired Magazine reported that a US drone strike in Pakistan had killed eight people. It was the sixth US drone strike in Pakistan in the preceding eight days, with at least 35 deaths reported. (By the way, you should be aware that the number of civilian casualties from drone strikes is almost certainly higher than reported. Under the 'signature strike' definition created by the Obama administration, any adult male in the vicinity of a known [or suspected] terrorist or militant is fair game. After all, if you're within 20 meters of a terrorist, you probably are a terrorist. Therefore your death is not recorded as a civilian casualty). |
| Posted: 30 Jan 2013 12:02 AM PST The US dollar is weaker against the major currencies which should result in more gains for metals and energies. We have the Federal reserve meeting tonight and any hints that withdrawal of monetary easing will be delayed will result in more thrashing for the greenback. Between the previous Federal Reserve meeting and today's Federal Reserve meeting, US economic numbers are mixed which suggest the Federal Reserve will use a cautious stance and not an aggressive monetary easing out policy. |
| Posted: 29 Jan 2013 11:30 PM PST from Gold Money:
Last year new French president Francis Hollande was elected after campaigning on a socialistic platform that emphasised increasing taxes on the rich. However, he is quickly realising the inherent flaws in the socialist economic model. By attempting to raise more revenue through punitive taxes on high earners, Hollande has instead succeeded in driving capital – and by extension many of the nation's job creators – out of the country. A recent article in The Telegraph notes how "Fresh data from the Banque de France show a sudden rise in [capital] outflows in October and November". The article also notes how "Simon Ward from Henderson Global Investors said the net loss of funds was €53bn (£43.8bn) over the two months, roughly the period when Mr Hollande unveiled a string of tax rises – and suffered a collapse in relations with French business." The reaction is hardly a surprise and was quite predictable to those that understand basic economics. |
| 22 Signs That Barack Obama Is Transforming America Into A Larger Version Of North Korea Posted: 29 Jan 2013 10:15 PM PST from The Economic Collapse Blog:
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| Coming Short Squeeze In Gold To Shock The World Posted: 29 Jan 2013 10:00 PM PST from KingWorldNews:
When the music stops, what the leverage in the system should tell you is there aren't going to be enough chairs. So Germany, as a credible country, is saying, 'We're reserving our chair.' Now this is exactly the type of catalyst that, as investors, we look for as owners of fully allocated gold ourselves. We share many of Germany's concerns… |
| Where Am I Supposed To Store All This Gold and Silver Posted: 29 Jan 2013 09:43 PM PST The Silver Trading Co |
| US and Canadian Mint Start Rationing Silver Coins Posted: 29 Jan 2013 09:14 PM PST Looks like we're starting to see pressure on silver and a reluctance to mint coins that puts pressure on physical silver supplies… See link here. |
| Broad Perspective - SP500, Gold, Miners and USD Posted: 29 Jan 2013 09:06 PM PST SP500 (Monthly) - is a mere touch away from its peak in 2000 and 2007. Its MACD and stochastic are at a huge overbought level while volume of its rally since 2009 continues to drop and remains at a dismal level. Technically speaking, the index ... Read More...  |
| Jay Taylors Top Picks 2013 – YouTube Posted: 29 Jan 2013 09:02 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| ‘We've Lost Our Sovereignty To City of London Banks' – Harley Schlanger Posted: 29 Jan 2013 09:01 PM PST
This is a 30-minute uninterrupted conversation with Harley Schlanger, historian and national Spokesperson for LaRouchePAC. Harley says America has lost its sovereignty to the City of London Banks. As a result, our currency is being debased so quickly in order to back TRILLIONS in derivatives exposure that hyperinflation could begin at any moment. Harley is calling for cutting off the shadow banking system from any more government-sponsored bailouts, and he says Obama MUST BE impeached if the United States is to survive. Once this is done, a return to a gold and silver backed credit based system will help restore our nation's economic backbone. |
| Where Am I Supposed To Store All This Gold and Silver? Posted: 29 Jan 2013 09:00 PM PST by Larry LaBorde, Gold Seek:
Just visit any old European city, affluent sections of central or south America or even the French Quarter in New Orleans or old Charleston and you will start to notice something about the architecture. Most of the homes are built like a fortress. They have very nice interior courtyards but also have walled fronts with heavy doors and heavy shutters on the street windows. The first layer of security is secrecy. If no one knows there are valuables in your home then there is no reason for someone to come and search for them. |
| Thomas Paine on war, commerce, government, and paper money Posted: 29 Jan 2013 08:23 PM PST Thomas Paine, born 276 years ago today in 1737, was a profoundly influential public figure and one of history's most widely read authors. John Adams is reputed to have said that without the pen of Paine, the sword of Washington would have been wielded in vain. Yet Adams, like many others in the forefront of the political cataclysms of the late 18th century, loathed almost everything about Paine. "The longer John Adams lived," writes Harvard historian Jill LePore, "the more he hated Thomas Paine, and the more worthless he considered that seventy-seven-page pamphlet" Common Sense that sparked the American Revolution. During the last years of Paine's life, rabidly pro-British and firebrand journalist William Cobbett used his widely-read Porcupine's Gazette to attack Paine on nearly every issue. Quoting Cobbett in his biography of Paine, author Craig Nelson writes: Whenever and wherever [Paine] breathes his last, he will excite neither sorrow nor compassion; no friendly hand will close his eyes, not a groan will be uttered, not a tear will be shed. Like Judas he will be remembered by posterity; men will learn to express all that is base, malignant, treacherous, unnatural and blasphemous, by the single monosyllable, PAINE. [p. 5]Cobbett had sized up the public's contempt quite accurately. After the Quakers had denied Paine his wish to be buried in their cemetery, Paine, who died on the morning of June 8, 1809, was interred on his farm in New Rochelle, NY. His close friend Marguerite Bonneville recounted the burial: The interment was a scene to affect and to wound any sensible heart. Contemplating who it was, what man it was, that we were committing to an obscure grave on an open and disregarded bit of land, I could not help feeling most acutely. . . Looking round me, and beholding a small group of spectators, I exclaimed, as the earth was tumbled into the grave, "Oh! Mr. Paine! My son stands here as testimony of the gratitude of America, and I, for France!" [p. 324]As I wrote in an earlier essay, "The man who inspired the country to secede from a corrupt state had six people in attendance at his funeral, none of whom were dignitaries." Yet, amazingly, after Paine's death Cobbett underwent a radical conversion. Of all the issues on which he had to concede Paine was right, perhaps none affected him more than Paine's essay, The Decline and Fall of the English System of Finance, in which the author predicted the Bank of England would fail from "Britain's never-ending warmongering" and "her escalating national debt, crushing taxes, and overreliance on paper money." [p. 4] Aided by Marguerite Bonneville, Cobbett wrote "a definitive Paine biography, doing penance for having been the American publisher of Francis Oldys's The Life of Thomas Paine, a slanderous attack subsidized by the British government." [p. 6] Paine was a polemicist of the highest order who held strong convictions. He wrote in language that was easily understood by anyone, which because of his radical views often made him subject to the charge of rousing the rabble. He attacked monarchy and believed the path to peace and prosperity was found in democratic republics. He did not anticipate the breakdown of "free states" into functional authoritarianism that developed and accelerated in the early 20th century and continues unabated to this day. So, for example, when he writes: "Government on the old system is an assumption of power, for the aggrandizement of itself," he was referring to monarchies, but we can apply that observation to any government of today. In celebration of his birthday, I have collected a few of his insights into war, commerce, government, and paper money. All italics are in the original. From the writings of Thomas Paine . . . On this question of war, three things are to be considered. First, the right of declaring it: Secondly, the expense of supporting it: Thirdly, the mode of conducting it after it is declared. The French Constitution places the right where the expense must fall, and this union can be only in the nation [the people]. The mode of conducting it after it is declared, it consigns to the executive department. Were this the case in all countries, we should hear but little more of wars. - Rights of Man, The Complete Writings of Thomas Paine, Volume 1, p. 285. Whatever is the cause of taxes to a nation, becomes also the means of revenue to a government. Every war terminates with an addition of taxes, and consequently with an addition of revenue; and in any event of war, in the manner they are now commenced and concluded, the power and interest of governments are increased. War, therefore, from its productiveness, as it easily furnishes the pretense of necessity for taxes and appointments to places and offices, becomes a principal part of the system of old governments; and to establish any mode to abolish war, however advantageous it might be to nations, would be to take from such government the most lucrative of its branches. The frivolous matters upon which war is made, show the disposition and avidity of governments to uphold the system of war, and betray the motives upon which they act. - ibid., pp. 342-343 Why are not republics plunged into war, but because the nature of their government does not admit of an interest distinct from that of the nation? Even Holland, though an ill-constructed republic, and with a commerce extending over the world, existed nearly a century without war: and the instant the form of government was changed in France, the republican principles of peace and domestic prosperity and economy arose with the new Government; and the same consequences would follow the same causes in other nations. - ibid., p. 343 If universal peace, civilization, and commerce, are ever to be the happy lot of man, it cannot be accomplished but by a revolution in the system of governments. All the monarchial governments are military. War is their trade, plunder and revenue their objects. While such governments continue, peace has not the absolute security of a day. What is the history of all monarchical governments, but a disgustful picture of human wretchedness, and the accidental respite of a few years' repose? Wearied with war, and tired with human butchery, they sat down to rest, and called it peace. - Rights of Man II, ibid., pp. 355-356 Almost everything appertaining to the circumstances of a nation, has been absorbed and confounded under the general and mysterious word government. Though it avoids taking to its account the errors it commits, and the mischiefs it occasions, it fails not to arrogate to itself whatever has the appearance of prosperity. It robs industry of its honors, by pedantically making itself the cause of its effects; and purloins from the general character of man, the merits that appertain to him as a social being. - ibid., p. 356 Government on the old system is an assumption of power, for the aggrandizement of itself; on the new, a delegation of power, for the common benefit of society. The former supports itself by keeping up a system of war; the latter promotes a system of peace, as the true means of enriching a nation. The one encourages national prejudices; the other promotes universal society, as the means of universal commerce. The one measures its prosperity, by the quantity of revenue it extorts; the other proves its excellence, by the small quantity of taxes it requires. - ibid., p. 363 . . . it is nevertheless true, that a great portion of mankind in what are called civilized countries, are in a state of poverty and wretchedness, far below the condition of an Indian. I speak not of one country, but of all. It is so in England, it is so all over Europe. Let us inquire into the cause. It lies not in any natural defect in the principles of civilization, but in preventing those principles having an universal operation; the consequence of which is a perpetual system of war and expense, that drains the country, and defeats the general felicity of which civilization is capable. - ibid., pp. 398-399 Commerce is no other than the traffic of two individuals, multiplied on a scale of numbers; and by the same rule that nature intended the inter- course of two, she intended that of all. For this purpose she has distributed the materials of manufacturers and commerce in various and distant parts of a nation and of the world; and as they cannot be procured by war so cheaply or so commodiously as by commerce, she has rendered the latter the means of extirpating the former. - ibid., p. 400 When in the last, as well as in the former wars, the commerce of England sunk, it was because the general quantity was lessened everywhere; and it now rises because commerce is in a rising state in every nation. If England, at this day, imports or exports more than at any former period, the nations with which she trades must necessarily do the same; her imports are their exports, and vice versa. There can be no such thing as a nation flourishing alone in commerce; she can only participate; and the destruction of it in any part must necessarily affect all. When, therefore, governments are at war, the attack is made upon the common stock of commerce, and the consequence is the same as if each had attacked his own. - ibid., p. 401 It is not whether this or that party shall be in or out, or Whig or Tory, or high or low shall prevail; but whether man shall inherit his rights, and universal civilization take place? Whether the fruits of his labor shall be enjoyed by himself, or consumed by the profligacy of governments? Whether robbery shall be banished from courts, and wretchedness from countries? - ibid., p. 404 But as the principles of the present Revolution differed from those which preceded it, so likewise did the conduct of America both in government and war. Neither the foul finger of disgrace nor the bloody hand of vengeance has hitherto put a blot upon her fame. Her victories have received luster from a greatness of lenity; and her laws have been permitted to slumber, where they might justly be awakened to punish. War, so much the trade of the world, has here been only the business of necessity; and when the necessity shall cease, her very enemies must confess, that as she drew the sword in her just defense, she used it with- out cruelty, and sheathed it without revenge. - Letter to the Abbe Raynal, The Complete Writings of Thomas Paine, Volume 2, p. 221 I shall enumerate some of the evils of paper money and conclude with offering means for preventing them. One of the evils of paper money is, that it turns the whole country into stock jobbers. The precariousness of its value and the uncertainty of its fate continually operate, night and day, to produce this destructive effect. Having no real value in itself it depends for support upon accident, caprice and party, and as it is the interest of some to depreciate and of others to raise its value, there is a continual invention going on that destroys the morals of the country. It was horrid to see, and hurtful to recollect, how loose the principles of justice were left, by means of the paper emissions during the war. The experience then had, should be a warning to any assembly how they venture to open such a dangerous door again. As to the romantic, if not hypocritical, tale that a virtuous people need no gold and silver, and that paper will do as well, it requires no other contradiction than the experience we have seen. Though some well- meaning people may be inclined to view it in this light, it is certain that the sharper always talks this language. There are a set of men who go about making purchases upon credit, and buying estates they have not wherewithal to pay for; and having done this, their next step is to fill the newspapers with paragraphs of the scarcity of money and the necessity of a paper emission, then to have a legal tender under the pretense of supporting its credit, and when out, to depreciate it as fast as they can, get a deal of it for a little price, and cheat their creditors; and this is the concise history of paper money schemes. But why, since the universal custom of the world has established money as the most convenient medium of traffic and commerce, should paper be set up in preference to gold and silver? The productions of nature are surely as innocent as those of art; and in the case of money, are abundantly, if not infinitely, more so. The love of gold and silver may produce covetousness, but covetousness, when not connected with dishonesty, is not properly a vice. It is frugality run to an extreme. But the evils of paper money have no end. Its uncertain and fluctuating value is continually awakening or creating new schemes of deceit. Every principle of justice is put to the rack, and the bond of society dissolved: the suppression, therefore, of paper money might very properly have been put into the act for preventing vice and immorality. The pretense for paper money has been, that there was not a sufficiency of gold and silver. This, so far from being a reason for paper emissions, is a reason against them. As gold and silver are not the productions of North America, they are, therefore, articles of importation; and if we set up a paper manufactory of money it amounts, as far as it is able, to prevent the importation of hard money, or to send it out again as fast it comes in; and by following this practice we shall continually banish the specie, till we have none left, and be continually complaining of the grievance instead of remedying the cause. Considering gold and silver as articles of importation, there will in time, unless we prevent it by paper emissions, be as much in the country as the occasions of it require, for the same reasons there are as much of other imported articles. But as every yard of cloth manufactured in the country occasions a yard the less to be imported, so it is by money, with this difference, that in the one case we manufacture the thing itself and in the other we do not. We have cloth for cloth, but we have only paper dollars for silver ones. As to the assumed authority of any assembly in making paper money, or paper of any kind, a legal tender, or in other language, a compulsive payment, it is a most presumptuous attempt at arbitrary power. There can be no such power in a republican government: the people have no freedom, and property no security where this practice can be acted: and the committee who shall bring in a report for this purpose, or the member who moves for it, and he who seconds it merits impeachment, and sooner or later may expect it. Of all the various sorts of base coin, paper money is the basest. It has the least intrinsic value of anything that can be put in the place of gold and silver. A hobnail or a piece of wampum far exceeds it. And there would be more propriety in making those articles a legal tender than to make paper so. . . . The laws of a country ought to be the standard of equity, and calculated to impress on the minds of the people the moral as well as the legal obligations of reciprocal justice. But tender laws, of any kind, operate to destroy morality, and to dissolve, by the pretense of law, what ought to be the principle of law to support, reciprocal justice between man and man: and the punishment of a member who should move for such a law ought to be death. . . . If anything had, or could have, a value equal to gold and silver, it would require no tender law: and if it had not that value it ought not to have such a law; and, therefore, all tender laws are tyrannical and unjust, and calculated to support fraud and oppression. Most of the advocates for tender laws are those who have debts to discharge, and who take refuge in such a law, to violate their contracts and cheat their creditors. But as no law can warrant the doing an unlawful act, therefore the proper mode of proceeding, should any such laws be enacted in future, will be to impeach and execute the members who moved for and seconded such a bill, and put the debtor and the creditor in the same situation they were in, with respect to each other, before such a law was passed. Men ought to be made to tremble at the idea of such a bare-faced act of injustice. It is in vain to talk of restoring credit, or complain that money cannot be borrowed at legal interest, until every idea of tender laws is totally and publicly reprobated and extirpated from among us. - Dissertations on Government, ibid., pp. 406-409 |
| Insights on the “Debt Ceiling” that Perhaps You Didn't Know Posted: 29 Jan 2013 08:06 PM PST "Follow the munKNEE" via twitter & Facebook or Register to receive our daily Intelligence Report The "debt ceiling" has replaced the "fiscal cliff" as the new crisis of the So writes Jerry Robinson (www.FTMdaily.com) in edited excerpts from his original article* entitled Our Desperate Bankrupt Nation.
Robinson goes on to say in further edited excerpts: So… about that "debt ceiling" Shortly after the Federal Reserve Act was signed in 1913, the Congress took an unusual step by allowing the Treasury to independently choose when to issue bonds to the public. (From the founding of the nation until World War I, every single bond issuance by the Treasury was subject to its own Congressional vote.) These sweeping fiscal changes, which came as a result of the Second Liberty Bond Act of 1917, imposed a Congressionally-mandated borrowing cap upon the Treasury Department. The Treasury could now make the decision to issue bonds without gaining Congressional approval. This newfound freedom to create debt came with strings attached: a Congressionally-mandated limit to the amount of debt that the Treasury could create, otherwise known as a "debt ceiling." When the Treasury hits this debt ceiling, it is then required to come groveling back to the Congress for approval to issue more debt. Since its inception, Congress has consistently voted to raise this debt ceiling. And with each passing decade, the amount of debt owed by the Federal government has increased exponentially.
The debate that is breaking out today regarding the debt ceiling is cleverly disguised as one over "fiscal responsibility." One political party is demonized while the other is idolized. This is completely laughable for at least two reasons:
While the hand-wringing and political theatrics will be impressive to those who still believe the corporate-controlled media's narratives, the outcome is completely predictable: The debt ceiling will be increased. After all, can our nation improve its immediate financial situation by defaulting on its debt? For example, imagine that for the last several years you have been on a spending binge. Your spending sprees have maxed out virtually all of your credit cards and the things you have bought on credit no longer seem like a good idea. One day, you have an epiphany that it is time to improve your financial situation so, when your credit card bill comes in the mail, you simply toss it in the garbage. After all, why keep paying for those worthless items you bought last year? You need to start saving money! Does anyone with a drip of logic believe that this is the best way to begin improving your financial picture? If you spent money with your credit card, it is in your best interest to pay the bill when it comes due. If you want to change your financial future, you can cut the credit card in half and stop using it or you can limit your use of the credit card, etc., but to just toss the credit card bill in the trash when it comes will not improve your financial situation. If anything, it will make matters worse. Debating the debt ceiling is rooted in a false argument. It is like trying to cut down a tree by striking at its branches. If Washington wants to solve its debt problem, it should cut spending, not toss its debt bills in the trash and hope the problem goes away! The power given to those in Washington has apparently become so intoxicating that it is now impairing their sanity. The Fed Wants the Debt Ceiling Scrapped! Earlier this month, Federal Reserve Chairman Ben Bernanke entered the fray by calling for the debt ceiling to be scrapped. According to Mr. Bernanke, limiting the Treasury from unlimited borrowing from the Federal Reserve is an antiquated fiscal statute with "no practical value." Spoken like a true central banker… Imagine if all financial institutions and credit card companies followed Bernanke's advice and eliminated credit limits on all of its borrowers. What if all American households decided that limiting the amount of debt they took on was irrelevant? Mr. Bernanke, and those global financial institutions with ownership stakes in the Federal Reserve, has an incentive for America to continue its spending binge. After all, the Federal Reserve gets paid back with interest on all of the loaned dollars that it prints 'out of thin air' for the Federal government so, of course, the Fed wants the U.S. government borrowing to be uncapped! You may ask, isn't the Federal Reserve concerned that America may not be able to pay it back? After all, banks only make money if their loans are paid back with interest. Ah, dear reader, the Federal Reserve is yet again one step ahead of the common man. Central banks are clever wealth creation tools used by the mega-wealthy to bleed dry a nation's treasury. Over the centuries, central banks have correctly understood the importance of ensuring the taxing power of its national subjects. After all, the Federal government's taxing power over all income generated within its borders (and even abroad) practically guarantees their ability to extract fresh capital from its citizenry. This taxing power helps central bankers sleep easy at night…. My forecast: America's debt ceiling will be increased despite political hand-wringing after the corporate-controlled media milks it for ratings and ad revenue.
*http://ftmdaily.com/economic-crisis/us-dollar-crisis/our-desperate-bankrupt-nation/ (written by Jerry Robinson; FTMDaily © 2012 — Robinson Media Group LLC – Visit FTM.com to sign up to receive the latest articles and podcasts from Follow the Money! or subscribe to become a FTM Insider.)
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| American Silver Eagle Bullion Coin Sales Soar To All Time Record High Posted: 29 Jan 2013 07:30 PM PST With two days remaining in the month of January, U.S. Mint sales of the American Silver Eagle bullion coins have already established an all time record high. The latest numbers from the Mint show total sales of 7,420,000 silver bullion coins as January 29, 2013. Total sales during January 2012 amounted to 6,107,000 coins. During [...] |
| Silver Shortage? What Silver Shortage? Posted: 29 Jan 2013 06:59 PM PST Is There Really A Physical Silver Shortage?by Dave Kranzler I have a couple different business colleagues who have spoken with bullion smelters who say the market is in short supply right now. Furthermore, Swiss money manager Egon Von Greyerz stated yesterdaythat "we are now seeing very lengthy delays in getting physical silver." What does all this mean? First, let me say that a "shortage" in physical supply does not mean that I'm saying there is not any physical silver available. But what it does mean is that there are not many interested sellers of actual physical at the current price level. To be sure, any shortage of a non-depletable resource can be solved by price. What this means is that we are going to see much higher prices for silver in the coming months, until the new market price is set at a level which balances supply and demand. It's basic economic law. [also from Dave Kranzler via http://lemetropolecafe.com [Please subscribe] Two interesting observations: 1) most of the growth over the past year has been in the eligible inventory. I don't know if you've been following Ted Butler's analysis, but every report now pretty much he goes over the massive flows in and out of the Comex every week. This is something that didn't start occurring until about 4-6 months ago. He's convinced that it is direct evidence that it's a signal of how tight the physical market is. That combined with the SLV/HSBC reports is quite strong circumstantial evidence that SLV and the Comex eligible inventory is being used to put out physical "fires" on a weekly basis. 2) JPM has gone from not being silver vault custodian on the Comex about 18 months ago roughly to now being the third largest custodian. Given that is commonly accepted that JPM is the primary illegal Comex silver manipulator, combined with the fact that is the primary SLV custodian, can only lead one to conclude that JPM, the Comex and SLV are the heart of a massive scheme to cover up just how short the paper market is of physical silver. Just look at the inexplicable delivery to HSBC - the largest Comex silver custodian and no longer an SLV subcustodian - of $876 million worth of 1000 oz silver bars. Now the U.S. Mint and the Royal Canadian Mint are failing to meet the retail investor demand of physical silver. The difference between the Comex and the Mint business is that the mints have no choice but to either make hard physical deliveries or cut off orders. They are both cutting or limiting orders. When you put all of this together and stir it up it, the only conclusion is that the world is massively short physical silver delivery obligations. This is why the Comex long interest is staying so persistently high at the 140,000 contract level despite numerous aggressive cartel raids. We have never seen the silver open interest behave this way under such paper duress. There is a massive physical shortage of delivery obligations derived from the massive paper short, both Comex and OTC derivative based. There is going to be a huge explosion higher in the price of silver at some point in the near future… one more point about the Comex open interest. The true industrial and commercial users of physical silver, the commercial end users as opposed to the bullion banks who are also classified as "commercial," require physical delivery under any circumstances. It is my hunch and it is highly likely that the persistent high level of silver o/i could be attributed to the fact that the commercial end-users of physical stay long regardless of the paper raids. They need the silver to run their businesses. If we could determine if this is the case in terms of a detailed breakdown of the open interest, then my analysis is 100% correct. _______________________ Let's refresh our understanding of the difference between registered and eligible status at the Comex. "Comex has two categories of silver in its warehouse.http://jessescrossroadscafe.blogspot.com/2011/04/silver-eligible-versus-registered-and.html ___________________________  silverdoctors.com / By The Doc / January 29, 2013 The US Mint restarted Silver Eagle sales via allocation/ rationing Monday, and has just updated their month-t0-date sales totals. Despite 2 production shutdowns in January, the US Mint has sold a record breaking 7.13 million Silver Eagles in only 10 business days in January, shattering the previous monthly record set in 2011! ________________________________ U.S. Mint Silver-Coin Sales Surge After Temporary SuspensionBy Debarati Roy - Jan 29, 2013 12:06 PM ET The U.S. Mint resumed sales of American Eagle silver coins after being suspended for more than a week because of a lack of inventory. The Mint sold 1.123 million ounces of the coins yesterday, Michael White, a spokesman in Washington, said in a voice mail left late yesterday in response to questions from Bloomberg News. Before the suspension, sales this month totaled 6.01 million ounces, according to data on the Mint's website. That compares with 6.107 million ounces in January 2012. White did not respond to e-mails or a voice mail left today. Silver futures are up 3.2 percent this month in New York, after advancing 8.3 percent in 2012, as central banks from the U.S. to Japan pledged more stimulus measures to boost economic growth. Global holdings of the metal in exchange-traded funds rose to an all-time high of 19,699 metric tons on Jan. 18. "The demand for precious physical metal is surging as the continued global quantitative easing is leading to currency devaluation," Jeffrey Sica, who helps oversee more than $1 billion as president of SICA Wealth Management, said in a telephone interview from Morristown, New Jersey. "People are realizing this is one of the best asset-classes to hold." ____________________________ kingworldnews.com / January 29, 2013 Today the outspoken hedge fund manager out of Hong Kong, who recently lit the gold world on fire with his comments about a coming short squeeze in gold, told King World News that managed money around the world is already beginning to convert paper claims on gold into physical metal. Kaye, who 23 years ago worked for Goldman Sachs in mergers and acquisitions, and who is now the founder and principle shareholder of Pacific Group in Hong Kong, strongly believes that "… only a small fraction of investors in the world need to do what we are doing to create an enormous short squeeze (in gold)." KWN will be releasing a series of written interviews today with Kaye which discuss the coming global systemic meltdown, and how it will impact investors and key markets around the world, including gold and silver. Here is what Kaye had to say in part I of this exclusive interview: "We know the claims on gold in the marketplace exceed, depending on various estimates, 100 to 150 times the amount of physical gold known to exist. So when a credible country like Germany has sufficient concerns about whether they can get physical possession and safe storage of fully allocated gold, it's our contention that any prudent investor should be concerned." William Kaye continues: "When the music stops, what the leverage in the system should tell you is there aren't going to be enough chairs. So Germany, as a credible country, is saying, 'We're reserving our chair.' Now this is exactly the type of catalyst that, as investors, we look for as owners of fully allocated gold ourselves. We share many of Germany's concerns…. Silver Eagle Sales Surge To All-Time Record In January Posted: 29 Jan 2013 06:37 PM PST A massive 7.4 million Silver Eagles were purchased from the U.S. Mint in January, considerably higher than the previous record from early 2011. After halting Silver coin production/sales for over a week, the Mint re-opened yesterday and demand once again surged. Having almost doubled from the first week in January, there remains two more days before the book is closed on January's sales. At 140,000 ounces, the Mint has also sold the most ounces of gold in January in almost three years, suggesting the rising 'currency wars' are stoking people's ongoing rotation from paper-to-physical assets as their 'wealth' slowing loses its value.
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| Germany's gold at NY Fed may be impaired, Centennial's analysts agree Posted: 29 Jan 2013 05:47 PM PST 7:42p ET Tuesday, January 29, 2013 Dear Friend of GATA and Gold: Repatriation of Germany's gold from the Federal Reserve Bank of New York may be so limited and slow because the gold is tied up by leases that will require years of unwinding, three market analysts at Centennial Precious Metals in Denver agree in a panel discussion broadcast today. The analysts -- Peter Grant, Jonathan Kosares, and George Cooper -- also discuss the U.S. Mint's erratic production of silver eagle coins. The discussion is a half hour long and can be viewed at Centennial's Internet site, USAGold.com, here: http://www.usagold.com/video/20130128.html CHRIS POWELL, Secretary/Treasurer 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... Join GATA here: California 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 31, 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 31, 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 |
| GATA favorites to speak at SilverSeek's online conference Thursday Posted: 29 Jan 2013 05:26 PM PST 7:25p ET Tuesday, January 29, 2013 Dear Friend of GATA and Gold (and Silver): GoldSeek's companion Internet site, SilverSeek, will hold its 4th Virtual Silver Investment Conference online Thursday from 9:30 a.m. to 4:30 p.m. Eastern time featuring four GATA favorites: our consultant, GoldMoney founder James Turk; Sprott Asset Management CEO Eric Sprott; Silver-Investor.com's David Morgan; and GoldSeek and SilverSeek proprietor Peter Spina. Attendance is free for those who register in advance. The conference's Internet site is here: https://seek.6connex.com/portal/goldsilver/login/?langR=en_US&cc=goldse... 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: California 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 Get the real story about the precious metals Now you don't have to travel to attend a financial conference to hear Sprott Asset Management's precious metals experts -- Eric Sprott, Rick Rule, and John Embry. They'll be holding a round-table discussion via the Internet at 2 p.m. ET Tuesday, February 12, and you can be part of it. Among their topics: -- Why are precious metals such a compelling investment opportunity? -- Why are non-G7 central banks buying gold? Do Western central banks have any left? -- Why are investors buying as much silver as gold in dollar terms? What does this mean for the price of silver? -- Is the growing supply deficit of platinum and palladium going to push their prices higher? To register for this Internet conference and participate from the comfort of your own home or office, please visit: http://w.on24.com/r.htm?e=579230&s=1&k=70B829852A33CD255CC2A43ED63D18D0 |
| The Gold Price Remains in Primary Uptrend Rising $7.90 to Close at $1,660.80 Posted: 29 Jan 2013 05:05 PM PST Gold Price Close Today : 1660.80 Change : 7.90 or 0.48% Silver Price Close Today : 31.159 Change : 0.403 or 1.31% Gold Silver Ratio Today : 53.301 Change : -0.442 or -0.82% Silver Gold Ratio Today : 0.01876 Change : 0.000154 or 0.83% Platinum Price Close Today : 1677.40 Change : 16.20 or 0.98% Palladium Price Close Today : 749.05 Change : 9.25 or 1.25% S&P 500 : 1,507.84 Change : 7.66 or 0.51% Dow In GOLD$ : $173.69 Change : $ 7.50 or 4.51% Dow in GOLD oz : 8.402 Change : 0.363 or 4.51% Dow in SILVER oz : 447.85 Change : -3.51 or -0.78% Dow Industrial : 13,954.42 Change : 72.49 or 0.52% US Dollar Index : 79.56 Change : -0.211 or -0.26% The GOLD PRICE gained $7.90 (0.48%) to $1,660.8 while Silver gained 40.3 cents (1.3%) to 3115.9c. That's nice, but may be driven by no more strength than folks backing out of their shorts before the uncertainty of the FOMC meeting. Of silver and gold I might say, "It's always darkest before the dawn," but somebody might remind me that it also gets pretty dark right before a tornado rips through town. Still, it's true. Markets turn around at extremes of sentiment. When "everybody" thinks a market is going up, then it's probably not, because "everybody" has already bought and that market has run out of buyers. Ditto but inverted for declining markets: market has run out of sellers. But I can wait patiently, because I know that silver and gold remain in a primary uptrend. Sooner or later, that bull trend will kick in again and carry them higher. Bad, bad -- gold stands below all its moving averages, BUT is for the nonce at least holding on at $1,655 and at that uptrend line from the June 2012 low. We can't MAKE it rise, we just have to watch calmly. Bad news from the FOMC meeting tomorrow -- "We realize now what a terrible mistake our inflation has been since 1913, so we're going to shut the doors and advise the American people to start using gold and silver money" -- would drive gold down. Course, they might say something markets perceive as "positive" for the GOLD PRICE. Yep, I know it's ridiculous, but we live in a world of illusion, and none on a grander scale than the Federal Reserve. The SILVER PRICE on the other hand, doesn't look so bad. It stands above its 200 DMA (3065) and today closed above its 300 DMA (3113c) and 20 DMA (3112c). All this is nice, but silver must close above its 50 DMA (3189c) and then conquer the last high at 3249c. Mark Twain once opened a lecture tour with, "Rumors of my death have been greatly exaggerated." Silver and gold could say the very same today. GOLD/SILVER RATIO today registers 53.301:1. Still time to trade any remaining gold for silver, targeting a fall to 32:1 or lower (about a 40% gain in ounces). Call us if you are interested. Everybody has opinions, but only those who have convictions will put their money where their mouth is. I'm talking about the bond bubble. Botulism Ben's strategy is founded on near-zero interest rates, but Ben doesn't control interest rates, only the Fed Funds rate and his own jaw. Once markets take the bit in their mouth and decide they no longer love bonds, they'll sell those bonds and interest rates will rise (yes, interest rates and bond prices move opposite to each other). Problem is that Ben, like much modern medicine, fixes one only to break two more. His zero interest rate policy has created a bubble in -- guess what? -- bonds. After all, he told the world in advance he was going to keep on suppressing interest rates, so there was little danger in buying bonds, just as in 2006, there was little danger in residential real estate. Point is, the yield on the 10 year Treasury note has risen to 2%, nay, has been rising since Mid-December. Oh, so far it's only a cloud no bigger than a man's hand on the horizon, but it continues to grow and move toward us. Should that 10 year Treasury yield cross 2.40%, Oh, my! The mayhem will become general. Y'all know how I love numbers, so I started poking around in history. Did y'all know that with the Dow's close at 13,954.42 today, it stood at its highest price since 15 October 2007, not long after the all time high close on 9 October 2007 at 14,164.53? Wow. Pretty good, huh? But in the same 5-1/4 years it has taken the Dow to scrabble back to its 2007 height, gold has more than doubled, from $757.10 to $1,660.80 (2.197x) and silver has multiplied 2.26 times from 1376 cents an ounce to 3015.9 cents today. Yeah, buddy! Them stocks are on fahr like a house a-burning! US Dollar index is cowering under its 20 day moving average (79.95) like a little feist dog somebody's been kicking all the time. It's built a little even-sided triangle here, so a break up or down lies in the cards, but which way? Tomorrow meets and pontificates the Federal Open Market Committee, and markets, unaware of their true ignorance and fecklessness, will move with whatever silly pronouncement they make. That's what got me started down this road. Some bond traders are betting that the FOMC will cease buying so many bonds if unemployment improves, hence they are selling and yields rising. But this fool in Tennessee don't think it makes any more difference than whether somebody shoots you with a .45 caliber M1911 pistol or a .40 caliber Glock. Unemployment up or unemployment down, the Fed will keep flooding the market with new dollars. Their ideological Keynesianism limits them to that one response. US dollar index lost 21.1 basis points (0.27%) to end at 79.556. Meanwhile the Euro rose 0.3% to $1.3494, and continues to paint a chart that looks like an island reversal topped at $1.3500. Won't last long if that's what it is. Yen fell a nothing 0.05% to 110.21 cents/Y100. May have bottomed. US$1=Y90.82=E0.7411=0.032093 oz Ag=0.000602 oz Au. 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 © 2013, 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.  |
| Gold On Verge of Another MAJOR Down Leg ? Here?s What to Do Now Posted: 29 Jan 2013 04:41 PM PST "Follow the [COLOR=#0000ff][U]munKNEE" [/U][/COLOR]via twitter & Facebook or Register to receive our daily Intelligence Report I would love nothing more than to tell you that gold has finally embarked on its next leg up to $5,000+ but the fact of the matter is that there is no evidence that it has.*Period. In fact, gold is telling you exactly the opposite. Gold is now nearly $257 below its all-time record high. It can* barely rally and very time it does, the rally fades away and now the price of gold* is dangerously near an important weekly sell signal on my systems, which stands* at $1,657. Words: 780; Charts: 1 So writes Larry Edelson ([url]www.uncommonwisdom.com[/url]) in edited excerpts from his*original article*entitled*Be ready to pull the trigger when … [INDENT]This article is presented compliments of [B]www.FinancialArticleSummariesToday.com*(A site for sore eyes and inquisitive minds) and [COLOR=#ff0000]www.munKNEE.com [/COLOR](Your Key to Making Money!) and may have ... |
| Posted: 29 Jan 2013 04:41 PM PST [B][B][B][B][B][B][B][B][B][B][B][B]"[B]Follow the [COLOR=#0000ff][U]munKNEE"[/U][/COLOR] [/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B]via twitter & Facebook or Register to receive our daily [B]Intelligence Report[/B] Bubbles tend to follow the 80/20 ratio indicated in the Pareto Principle where approximately 80% of the price move occurs in the LAST 20% of the time. That being the case it would appear that gold and silver could conceivably top out around $9,000 per troy ounce and $250/ozt respectively*.This is not a prediction of future prices of gold and silver; it is an indication of what could happen in a speculative bubble environment based on the history of previous bubbles. Words: 1280; Charts: 1 So writes GE Christenson ([url]www.deviantinvestor.com[/url]) in edited excerpts from his original article entitled Past & Future Speculative Bubbles – What They Indicate for Gold and Silver!. [INDENT]This*article is presented compliments of [B]www.FinancialArticleSummariesToda... |
| Debate: Are the Rich Taxed Enough in the United States? – YouTube Posted: 29 Jan 2013 04:39 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Ask The Expert With Peter Spina – YouTube Posted: 29 Jan 2013 04:33 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Posted: 29 Jan 2013 04:32 PM PST Or what happens when Wall Street Muppet A is vewy, vewy angwy with Wall Street Muppet B and desperately needs a ratings boost. * * * Straight from the best Senate Wall Street taxpayer bailout money and Fed excess reserves (by way of deficit monetization) can buy: Sens. Brown, Grassley Press Justice Department On "Too Big To Jail" Senators Question Whether "Too Big to Fail" Status of Some Wall Street Megabanks Undermines Government's Ability to Prosecute Large Financial Institutions, Impose Appropriate Penalties Tuesday, January 29, 2013 WASHINGTON, D.C. – U.S. Sens. Sherrod Brown (D-OH) and Chuck Grassley (R-IA) sent a letter today to U.S. Attorney General Eric Holder questioning whether the "too big to fail" status of certain Wall Street megabanks undermines the ability of the federal government to prosecute wrongdoing and impose appropriate penalties. They also requested that the Justice Department disclose the identities of parties with whom prosecutors consult about the appropriate level of penalties for financial institutions. "Wall Street megabanks aren't just too big to fail, they're increasingly too big to jail," Brown said. "Already, the nation's six largest megabanks enjoy what amounts to taxpayer-funded guarantee by virtue of their size, making it harder for regional and community banks to compete. Now, these megabanks may also enjoy some impunity when they violate the law by laundering money or illegally foreclosing on homeowners. Wall Street should pay the full price of its wrongdoing, not pass the costs along to taxpayers." "The best deterrent to crime is to put people in prison," Grassley said. "That includes those at powerful banks and corporations. Unfortunately, we've seen little willingness to charge these individuals criminally. The public deserves an explanation of how the Justice Department arrives at these decisions." Brown, who chairs the Senate Banking Subcommittee on Financial Institutions and Consumer Protection, is the author the Safe, Accountable, Fair & Efficient (SAFE) Banking Act, legislation that would prevent any one financial institution from becoming so large and overleveraged that its collapse could put our economy on the brink of collapse or trigger the need for a federal bailout. He also passed legislation with Sen. David Vitter (R-LA) to requiring the Government Accountability Office to study how banks with assets of $500 billion or more benefit from the belief that the government would not let them fail in a crisis. As Ranking Member of the Judiciary Committee, Grassley has been critical of the Justice Department's decisions against holding people criminally accountable in financial cases. He called the Justice Department's decision to forego any criminal prosecution of HSBC officials involved in that money laundering scandal inexcusable. And he has questioned the Justice Department about the number of mortgage fraud cases brought forward, revealing a failure to bring significant criminal cases against any of the major banks or financial institutions that have faced civil actions for various frauds. Grassley is the author of the Fraud Enforcement Recovery Act, signed into law in 2009, that was designed to ramp up the government's response to the crisis and ensure that prosecutors and investigators had the tools needed to combat fraud. The full text of the letter from Brown and Grassley to Holder can be found below.
Don't make the muppets angry. You won't like them when they're angry. |
| Get Ready NOW For A New Bull Run In GOLD! By Gregory Mannarino – YouTube Posted: 29 Jan 2013 04:30 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Guest Post: The Siren Song Of The Robot Posted: 29 Jan 2013 04:10 PM PST Submitted by Gergor Macdonald of Peak Prosperity, The quest for cheap energy and cheap labor is a conquering human urge, one that has played out with notable ferocity starting with the Industrial Revolution. The introduction of coal into British manufacturing, and the more recent outsourcing of Western manufacturing to Asia, have marked key thresholds in this ongoing progression. But despite the harvesting of additional productivity gains from the more recent revolution in information technology, the suite of macro data suggests that the rate of advancement in physical production has slowed, notably, in the past thirty years. Seen in this light, the greatest gains to global industrial production were probably enjoyed from the late 18th century (when coal extraction and use began in earnest) into the mid-20th century (when oil reached broad distribution). In contrast, computers, the Internet, and the leveraging of developing world labor might eventually be seen as the finishing touches on this great industrial wave. The Siren Song of the RobotIndeed, the world now faces a double constraint to any further revolutionary gains to physical production: resource scarcity and the diminishing supply of the cheapest global labor, as wages in the Non-OECD have most likely seen their low. That we have reached this juncture probably explains why a new idea has arisen: The advent of robots. That fleets of more technically-proficient robots becoming ever more encompassing in their role in the economy will trigger the next Industrial Revolution, the one that does indeed deliver extraordinary productivity gains. The Rise of Machine Intelligence, it's now anticipated, will finally pull GDP back to the higher growth path seen in previous industrial advances. The past year has been a fertile time to consider this possibility. In March of 2012, Amazon.com bought the warehouse robot company, Kiva Systems. It seems not coincidental that Amazon has also engaged in a new wave of construction, building distribution centers poised to leap into an age of next-level automation. Each one, in its vastness and architecture, seems perfectly set up to reduce the quantity of human labor required to run Amazon's business. From The New York Times article:
You can see the video of Kiva robots here, acting as automated shelf and inventory movers. Note also the remark from the Oppenheimer analyst, concerning Amazon's poor margins. (Well, that's not news). However, it's a key theme to the pressures fated to drive the rise of machine intelligence (Capitalism demands it). Accordingly, it's not surprising that even energy companies like ExxonMobil are thinking about the global shift to automated manufacturing, data centers, and, importantly to Exxon, the rise of electricity (I have been writing continually over the past year about the transition from a world running on liquid BTUs to a world running on power. Please see Rise of the Global PowerGrid, August 2012). In its just released Annual Energy Outlook, looking ahead to the year 2040, Exxon writes:
2012 was also a year in which military drones finally penetrated public awareness levels, given their widespread use by the military. WIRED magazine has declared that 2012 was the year of the drone in Afghanistan. Indeed, the military drone is increasingly carrying the weight not only of U.S. ground operations globally, but, assuming that the U.S. is in a leadership position now in the field of military drones, we can conclude that unmanned craft are creeping up to become a feature of U.S. foreign policy. Let's pause here and consider that in just these two examples. We have one type of robot – the military drone – whose greatest contribution is to radically reduce the amount of resources required to deliver lethal strike capability. And we have the other, whose promise is to displace human labor on the shop floor (or in Amazon's case, the inventory floor). The replacement of human labor and its myriad, associated costs is revolutionary. The promise for robots to take energy input costs down a notch, at a time when the price level for energy has gone through a phase shift higher, is compelling. If we assume that the I.T. revolution so far has delivered only small, incremental gains to the production of physical goods, then a robot revolution could finally usher in the changes that critics correctly say has not yet been delivered by a world of bits. The combination of robots and cheap electricity could well unleash a new phase of profitability for corporations – and, of course, the owners of the means of production. What's less likely, however, is that any such revolution is sustainable. Because unlike the Industrial Revolution, which added powerful BTUs in the form of coal to augment human labor, thus creating a tidal wave of profits and increased wages, a robot revolution promises to furnish the world with stuff at the expense of human employment. Many thinkers currently writing on this subject believe that a labor force deprived even further of purchasing power, yet given greater access to cheap goods, will wind up richer on the whole. I won't say that's wrong, but I will say it seems unlikely. Radical Price ShiftingLet's engage in a thought experiment, a scenario in which robots almost totally disrupt a particular type of consumer good. I'm choosing an example that I think would be most favorable to those who are sanguine about a robot-manufactured world, in which our wealth and free time are enhanced and people "become liberated to engage in other activities." Given the daily drudgery of cooking and meal preparation, let's imagine that a company is able to take high-end cooking ranges, high-end cooking equipment, and high-end refrigerators and freezers, and deliver them to market at discounts up to 50% off current prices. There is already a cultural shift underway to eat home-prepared food. Arming consumers during a time of higher food costs with the very best tools to prepare and store food dovetails nicely with current trends and household cost pressures. White goods, such as these, are a substantial part of furnishing a home. By radically lowering the price of these high-end tools, the owners of private homes and also apartments are more easily able to buy, prepare, and freeze food, thus freeing up capital (time) for other pursuits. Taking a look at the manufacturing locale, and input costs, of our hypothetical new company will be instructive. We'll call our new whiteware manufacturer Man Who Fell to Earth, Inc. (MWFE). No Need for ChinaWestern economies burden corporations with complex labor regulations and even more onerous tax liabilities. The decision to place a human being on the payroll in France, Britain, or the United States is not taken lightly, and it represents a huge increase in costs for health care, taxes, and unemployment insurance. A person hired at a salary of $125,000 can imply total costs double that amount. This is why cheap labor in Asia has been such a draw for Western corporations. But now that China has reached the Lewis Turning Point, there is less reason to locate there. Instead, Man Who Fell to Earth (MWFE) needs to think about shipping costs and energy input costs, because robots run on electricity. As it turns out, the United States has some of the cheapest electricity rates in the OECD. Average U.S. rates are just below 10 cents per KWh, and are stable as well. Even better, industrial and commercial rates are even lower. From the most recent data, via EIA Washington: Robots need no healthcare and incur no payroll taxes. Indeed, as machines, they would be conveniently depreciated like other capital equipment. Owing to U.S. hydropower and our cheap natural gas-fired powergrid, it's no longer clear that a factory making stoves, refrigerators, and cooking equipment with robots would be any cheaper in Asia. Indeed, current data suggests the price of electricity in China is roughly around 7.5 cents (or higher) per KWh. So, where might be a good locale for MWFE and its factory? The Columbia River: The DallesWithin the U.S., the cheapest electricity rates are in the Pacific Northwest. For the very same reasons that Amazon and Google have chosen The Dalles to site data centers, our Man Who Fell to Earth, Inc would find access to rail and river routes would set up the operation well, not only to receive raw materials but to ship to both North American and Pacific Markets. The Pacific Northwest is also the site of the largest smartgrid demonstration project in the U.S., operated by Battelle Labs and the Department of Energy. Microsoft and Yahoo have also chosen the Columbia River region to build enormous electricity-gulping data centers. Here is a photo of Google's complex in the Dalles: A Clutch of HumansAs towns along the Columbia River and elsewhere in the Pacific Northwest have discovered, electricity-seeking data centers employ very few people. Google's data center cost over a half billion dollars to build, but employs at best 200 people. Facebook's data center in Prineville, OR employs only 55. Once the construction phase is over, Man Who Fell to Earth, Inc (MWFE) becomes an operation also employing few human workers. Mostly, MWFE would engage in consumer marketing and would concern itself with the futures market for finished steel, copper, and other commodities. MWFE strikes long-term shipping agreements with railroad companies and it monitors quality control mostly through remote instrumentation. Its only need for humans is to manage relationships with raw material providers and to liaise with the robot manufacturers for maintenance and upgrades. It's probably the case that MWFE is robot-staffed by an array of 3-D printers and various free-ranging robots. It's probably also the case that the initial up-front investment is enormous, but while there are still the usual uncertainties about the economics of the operation itself, the company has taken the volatility of ongoing labor costs down to very low levels. More and US manufacturers are already making the choice to invest in 'intelligent machines' to guide robot production lines. Adam Davidson's excellent piece on this subject on last year's Atlantic, Making It in America, charts the course of automation as the U.S. competes against cheap developing-world labor through the use of advanced machines. Of course, this means that the U.S. economy holds some moderate ground in terms of output. But it also means that demand for human labor collapses further:
ImplicationsThere is nothing our robot manufacturing company can do to lower the price of steel, copper, rubber, and chemicals. Likewise, it's beholden as well to the robot and 3-D machine manufacturers. It still has to negotiate with transport companies, who themselves, in the case of the railroads, enjoy monopoly pricing. But MWFE has escaped the high cost of maintaining a human workforce and is passing on those savings to consumers. But what happens to the economy should this trend broaden? During the past 30 years, Americans have been treated to a flood of cheap goods and outright deflation in most foreign manufactured items. Did this make us wealthier? Because that is the standard position of many economists. The developed world has learned over the past decade that a steady supply of cheaper, foreign-made goods does not guarantee prosperity. What impact will (perhaps only moderately) cheaper goods have if coupled with reduced employment as human labor is displaced by machines? If we are unable to find a higher use for the displaced human labor, we are actually worse off. In Part II: Why the Robot Age May Create a Massive Deflationary Bust, we take a look at why the end of cheap energy will drive the economics of machine intelligence, as global capitalism desperately seeks its next revolution. The efficiencies promised by robots and other intelligent machines are real and will play a critical role in our industrial future. But their hidden risks to society are high and must be addressed early on in order to enter into the 'robot age' without triggering radical levels of inequality. For if we don't, we may well find the solution is worse than the problem we've designed it for. |
| Gold On Verge of Another MAJOR Down Leg – Here's What to Do Now Posted: 29 Jan 2013 03:52 PM PST "Follow the munKNEE" via twitter & Facebook or Register to receive our daily Intelligence Report I would love nothing more than to tell you that gold has finally embarked So writes Larry Edelson (www.uncommonwisdom.com) in edited excerpts from his original article entitled Be ready to pull the trigger when …
Edelson goes on to say in further edited excerpts: My models say: The next phase of gold's bull market (and all commodities for that matter) is not yet here which is precisely why I'm still not ready to stick my head out and load up on more gold. Nor should you.
My forecast — despite all the hate mail and pressure I get to change it — has also not changed. Based on my systems and models, I will not turn bullish on gold until either:
I know that's not what you want to hear. I know that you are as eager as I am to see the next leg of gold's bull market begin. I know that you want to buy more gold, load up on it and ride it to glory over the next few years. So do I, but when a market as sensitive as gold is to:
then something else must be going on. Markets are never wrong so what is gold really telling us?
To those of you looking for a fundamental explanation, I see two major forces at work right now that are overpowering all the others: 1. Money-printing — even when virtually all major central banks are doing it — means nothing when most of the money being printed is merely ending up sitting in the banks. I've said that before and it's still largely the case. It means:
2. Fears of North Korea's recent threats or renewed terrorist uprisings are — at this time — also actually suppressing gold. It's causing just enough geopolitical uncertainty to put savvy investors in a "cash mode" of thinking and not quite enough uncertainty to drive them directly into gold. Both of the above forces will — down the road — become bullish forces for gold…but none of the above forces will become bullish until it's time for them to do so and, based on my work, that's not likely until later this year – and from much lower prices… I know it's difficult to understand but…[one must] listen to the markets and what they are telling you. The markets, I repeat, are never wrong. Only the interpretations and expectations are so stay the course.
While their time to shine is not here yet, it will come again, I [can] assure you [of] that. You want to be fully ready and able to capitalize on these forces. If you listen to the pundits who proclaim the next bull market is here every time gold rallies $5 or $10 … or even $25, you won't be ready. You'll be far more likely to suffer massive losses. Ditto for silver. Stay the course, build up your ammo, and be ready to pull the trigger when I issue a headline like "Back Up the Truck, NOW!"
*http://www.uncommonwisdomdaily.com/be-ready-to-pull-the-trigger-when-15658?FIELD9=1 (Written by Larry Edelson; Copyright © 2012 Weiss Research, Inc.)
Related Articles: 1. Goldrunner: Gold & Silver Bottoming This Week & Setting Up for Parabolic Moves In Both This week could see a very significant historical bottoming point of interest for Gold and for Silver. Big moves late in the cycle for Gold and for Silver come after long sideways movements suggesting that both precious metals are ready to go parabolic. 2. A Plea From Jim Sinclair: You Are Being Played – Do NOT Give Up Your Gold! The paper gold market is being used to shake the bullish tree harder this time than any time before because of what is to come. Fear is the most powerful emotion in markets and it is being used perfectly to enrich the grand names of finance at your expense. We are right in front of that time when the market performs a classic bottom both in shares and physical. From this point gold is going to and through $3500 [so] if you are unable to buy at this time there is one thing you can do – to get into the fight and out of the stands. That act is do nothing, and do not capitulate. Let them play the price game, but give them nothing whatsoever of yours. Words: 758 There is a nasty game taking place which relies entirely on scaring you out of your wits. Yes, out of your mind, so you sell something of great value for peanuts to the exact party playing with your head via price. When you must look at the action, remember there is a buyer for every seller. That buyer is not scared out of his/her wits if you sell to stop the pain you are in. This period is, in my opinion, the last and largest attack you will see perpetrated on us before gold closes over $3500. This period of pain will not be measured in months, but counted in history as days. Stand firm and stay the course! Words: 787 4. Gold & Silver: Its What the Charts Say, Not Fundamentals Or Opinion, and the Charts Say… All fundamentals and opinions are useless in the markets because they pertain to timing, and timing plays a huge role when investing/trading….[and only] put one's belief system into a context with regard to the market[s]….It does not matter what others say about the market; what matters is what the market says about others. The market is, and always will be, the final arbiter of all "facts" and "opinions." [This article give an update on exactly what the charts are currently saying about gold and silver.] 5. These Charts Provide Detailed Insights Into Gold & Silver Price Activity All known information is contained in the charts, and being able to read them is a distinct advantage. The best way to achieve that advantage is to learn to make distinctions contained in the charts from one day/week/month to the next and this article does just that for both gold and silver. [Take a look.] Words: 1375; Charts: 6 6. Egon von Greyerz: The Real Move in Gold Hasn't Started Yet, It Is Still to Come – Here's Why After having compounded at over 19% p.a. over 11 years, gold certainly should be allowed to just gain 7% in 2012 without some people calling an end to the bull market. Those who believe the bull market is over are mainly the investors who have missed gold going up almost 7 times in since 1999. Let me be very clear, the real move in gold hasn't started yet, it is still to come. Here are my reasons why. Words: 1000 7. 5 Reasons to Short Gold In 2013 There are significant challenges to gold prices increasing in 2013. In fact, I believe that gold prices should move down in 2013 because of five strong headwinds, elaborated in this article. Words: 464 8. Gold Stocks Go Up Dramatically In Inauguration Years – Will Another +20% Increase Occur This Year? President Obama will be sworn into office for a second term on January 21 and that's good news if you own gold stocks. Why? Because gold stocks, [as represented by the XAU] have increased, on average, by 20% during inaugural years since 1985 (28% in 2005; 36% in 2003). While there's no real rhyme or reason as to why gold stocks thrive in inauguration years – statistical anomaly or otherwise – it is yet another reason to buy gold stocks right now. Words: 312; Charts: 1 9. Gold Is Looking Increasingly Vulnerable – Here's Why The threats of global recession, insurmountable debt, terrible government policy, central bank support, and many other very persuasive arguments present gold as a very appealing investment or safe haven but all of this is an illusion. Gold was a sensible investment in the early part of the bull market (1999-07), but has now become a false sense of security for many investors who will soon learn the hard way. Not only are the fundamentals already priced in, the technicals severely weakened, and the extremes in gold optimism easily apparent, but the bad news for gold could soon get much worse. The next weeks or few months will hopefully give us a lot more clarity. Words: 1170 10. Bull Markets Always End With a Bang, Not a Whimper, So Gold's Run Should Have More Legs [Here is a summary of my]…thoughts on the 2011 gold price peak relative to the last time a long term bull market ended (back in 1980): Long-term bull markets almost always end with a bang, not a whimper, and last year's price peak was clearly the latter. A 25% rise over a period of about two months last year [does not an] end-of-cycle, blow-off top [make]. No, I think there's still some room to run for gold if for no other reason than that we haven't even come close to the "mania" stage that characterizes the end of long-term market moves…[Let me explain further.] Words: 359; Charts: 1 11. Is Gold's 13 Year Run Almost Over?
12. It's Time to Seriously Consider SHORTING Gold – Here's Why
13. 7 Indications That Gold & Silver Bearishness Most Likely Will Continue
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| Two major Swiss banks nudge customers into allocated gold Posted: 29 Jan 2013 03:46 PM PST Swiss Banks Lose Old Taste for Gold By Jack Farchy http://www.ft.com/intl/cms/s/0/46c25732-6a10-11e2-a7d2-00144feab49a.html The wealthy have for centuries turned to Switzerland as a safe and convenient place to stash their gold. But Swiss banks are now demanding higher fees to accept the world's bullion, as they seek to reduce the size of their balance sheets. UBS and Credit Suisse, which dominate the powerful Zurich-based physical gold market, have hiked their charges for holding the metal, according to clients and people familiar with the banks. The move is an attempt to persuade their biggest clients -- including other banks, hedge funds, and institutional investors -- to take direct ownership of their gold in so-called "allocated" accounts, with the bank simply acting as a custodian. ... 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. Under more common "unallocated" gold accounts, depositors' gold appears on banks' balance sheets, forcing them to increase their capital reserves. Like their global peers, UBS and Credit Suisse are under regulatory pressure to reduce capital-intensive activities ahead of the introduction of Basel III global banking rules. People familiar with the banks' thinking said that the move to raise fees was part of a broader attempt to reduce the size of balance sheets. "When it's on balance sheet it does create costs," a person with knowledge of the banks' strategy said. Fees vary for different clients, and traders said that the increase had not been uniform but that it was generally in the order of about 20 per cent. Vault fees are typically about 0.05-0.1 per cent of the value of the gold. Credit Suisse declined to comment on the fee rises but confirmed that it was "adjusting its charges for precious metal accounts for financial institutions." UBS declined to comment. Higher vault fees are the latest sign of strain in Switzerland's banking industry, as investors in search of a haven pile money into the country. Last month UBS and Credit Suisse imposed negative interest rates on short-term cash deposits in an attempt to stem inflows from investors seeking a haven from the eurozone crisis. Some gold investors began shifting holdings from unallocated to allocated accounts -- which are generally more expensive -- at the beginning of the financial crisis. Unallocated holders can lose their investment if a bank fails, but holders of allocated gold are protected. Join GATA here: California 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 |
| Zimbabwe's Total Cash On Hand: $217.00 Posted: 29 Jan 2013 03:14 PM PST
The less than fun, for its citizens at least, details:
At least Zimbabwe can sell its gold. Well, it could, if it had any. And when even the government apartchicks, which also includes the army, received no more cash, they turn violent, and quite hostile, to the very same government that provided for them for years. Which is to be expected: because as history has shown that without fail what follows hyperinflation, is war. Which incidentally is all the US government will need to position its southern drone base in order to quell the imminent appearance of "Al Qaeda" rebels and militants in the South African country. This, in turn would fall perfectly with the WSJ's headline article totay: "U.S. to Expand Role in Africa." Because while the US is about to have western Africa covered with its drone presence, it needed a lucky break in order to get involved in the just as valuable south. Why, again, does the US need to be in every nook and corner Africa? Same explanation we gave yesterday: to prevent the rapid Chinese colonization of the last continent, a development the US has been well behind the curve on. And since it has no cash to spend to compete with China, it will do the next best thing - send in the drones. From - "The Beijing Conference": See How China Quietly Took Over Africa |
| Fed can't stop monetizing and so will boost gold, Pacific Group's Kaye says Posted: 29 Jan 2013 03:08 PM PST 5p ET Tuesday, January 29, 2013 Dear Friend of GATA and Gold: In the second part of a three-part interview with King World News, Pacific Group fund manager William Kaye says the Federal Reserve has no "exit strategy" to stop the monetization of debt and the suppression of interest rates, and letting interest rates rise to normal levels will crash the world financial system. So, Kaye says, the Fed will have to keep printing money in ever-greater amounts, which will boost gold. An excerpt from Part 2 of the interview with Kaye is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/29_%2... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Get the real story about the precious metals Now you don't have to travel to attend a financial conference to hear Sprott Asset Management's precious metals experts -- Eric Sprott, Rick Rule, and John Embry. They'll be holding a round-table discussion via the Internet at 2 p.m. ET Tuesday, February 12, and you can be part of it. Among their topics: -- Why are precious metals such a compelling investment opportunity? -- Why are non-G7 central banks buying gold? Do Western central banks have any left? -- Why are investors buying as much silver as gold in dollar terms? What does this mean for the price of silver? -- Is the growing supply deficit of platinum and palladium going to push their prices higher? To register for this Internet conference and participate from the comfort of your own home or office, please visit: http://w.on24.com/r.htm?e=579230&s=1&k=70B829852A33CD255CC2A43ED63D18D0 Join GATA here: California 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 |
| Rob Kirby: Ted Truman talks turkey Posted: 29 Jan 2013 02:57 PM PST 4:50p ET Tuesday, January 29, 2013 Dear Friend of GATA and Gold: Market analyst and GATA consultant Rob Kirby of Kirby Analytics in Toronto today responds to former Federal Reserve and U.S. Treasury Department official Edwin M. Truman's curious response (http://www.gata.org/node/12176) to questions from financial journalist Lars Schall about Truman's comments at a conference in Washington last month (http://www.gata.org/node/12084). Truman's response to Schall, Kirby writes, is "disingenuous" at best. Kirby's commentary is headlined "Ted Truman Talks Turkey" and it's posted at Schall's Internet site here: http://www.larsschall.com/2013/01/29/ted-truman-talks-turkey/ 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 31, 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 31, 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: California 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... |
| Posted: 29 Jan 2013 02:49 PM PST 4:20p ET Monday, January 28, 2013 Dear Friend of GATA and Gold: While the Dow Jones Industrial Average is approaching 14,000, nearly twice what it was four years ago, the New York Sun notes today that the Dow is actually worth substantially less over four years in terms of gold. Economic growth won't be likely, the Sun argues, until the Dow is rising when priced in gold. The Sun's editorial is headlined "The Fiat Dow" and it's posted here: http://www.nysun.com/editorials/the-fiat-dow/88174/ CHRIS POWELL, Secretary/Treasurer 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... Join GATA here: California 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 31, 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 31, 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 |
| Jeff Clark: Two chess moves away from capital controls Posted: 29 Jan 2013 02:35 PM PST 4:34p ET Tuesday, January 29, 2013 Dear Friend of GATA and Gold: Casey Research's Jeff Clark today offers a reason that might have motivated the Bundesbank to repatriate some of Germany's gold reserves: that the currency crisis the Bundesbank mused about the other day could bring with it capital controls that would impair repatriation of any financial assets. Clark concludes that the prospect of capital controls invites gold investors to get some of their metal out of their home countries. His commentary is headlined "Two Chess Moves Away from Capital Controls" and it's posted at Casey Research's Internet site here: http://www.caseyresearch.com/cdd/two-chess-moves-away-capital-controls 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: California 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 Get the real story about the precious metals Now you don't have to travel to attend a financial conference to hear Sprott Asset Management's precious metals experts -- Eric Sprott, Rick Rule, and John Embry. They'll be holding a round-table discussion via the Internet at 2 p.m. ET Tuesday, February 12, and you can be part of it. Among their topics: -- Why are precious metals such a compelling investment opportunity? -- Why are non-G7 central banks buying gold? Do Western central banks have any left? -- Why are investors buying as much silver as gold in dollar terms? What does this mean for the price of silver? -- Is the growing supply deficit of platinum and palladium going to push their prices higher? To register for this Internet conference and participate from the comfort of your own home or office, please visit: http://w.on24.com/r.htm?e=579230&s=1&k=70B829852A33CD255CC2A43ED63D18D0 |
| Astonished gold market analysts note FT's praise for GATA Posted: 29 Jan 2013 02:22 PM PST 4:04p ET Tuesday, January 29, 2013 Dear Friend of GATA and Gold: Astonished notice of today's praise of GATA by the Financial Times has begun to come in from those gold market analysts who have managed to pick themselves up off the floor. The daily note from John Brimelow's Gold Jottings says: "In a development which will be astonishing to veterans of the Gold Wars, the Financial Times today, in a discussion emphasizing how drastic the Bundesbank's shift to transparency about its gold activities has been, salutes the Gold Anti-Trust Action Committee. ... GATA has been completely justified in its complaints that its views have been excluded from the mainstream media for years. This is a remarkable development." And Mark O'Byrne's daily note at GoldCore says: "Those who have dismissed the Gold Anti-Trust Action Committee or GATA as 'conspiracy theorists' may now wish to apologise and acknowledge the documentation and evidence that GATA have amassed over the years. "GATA have long made a strong case that certain banks may have been manipulating gold and silver prices lower, in the same way that banks conspired to rig LIBOR and interest rates. ... The FT article is an important development and may help bring about a free market in gold and silver. This should lead to a revaluation of precious metal prices to the higher levels that have been expected by more astute analysts for some time and which are merited due to the very strong fundamentals." The GoldCore commentary is posted at GoldSeek here: http://news.goldseek.com/GoldSeek/1359464400.php CHRIS POWELL, Secretary/Treasurer 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. Join GATA here: California 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 |
| Gold Seeker Closing Report: Gold Gains and Silver Surges Posted: 29 Jan 2013 02:16 PM PST Gold climbed up to $1665.85 at about 9:30AM EST before it pared its gains a bit midday, but it still ended with a gain of 0.47%. Silver soared to as high as $31.47 and ended with a gain of 1.59%. |
A few hundred words from now, I'll examine the "liquidity pyramid" that argues for loading up on gold. But between here and there, I'll amble past a recent news story, convert that story into a metaphor and then…eventually…get to my main point.
If there is one country in the world that you would not want to live in, it would be North Korea. Unfortunately, the United States of America is becoming more like North Korea with each passing day. North Korea is a totalitarian police state hellhole where the state rules supreme, the "leader" is lavishly worshipped, no dissent is tolerated, and the government micromanages everything. America is supposed to be the opposite of that, but now Barack Obama is implementing his version of "change" and he has promised to engage in the "
We know the claims on gold in the marketplace exceed, depending on various estimates, 100 to 150 times the amount of physical gold known to exist. So when a credible country like Germany has sufficient concerns about whether they can get physical possession and safe storage of fully allocated gold, it's our contention that any prudent investor should be concerned.
by SGT,
For centuries people have worried about how to store their wealth. Ask someone who lived through the great depression about hiding wealth. If you can find someone in their nineties that can remember they will tell you that most people didn't trust banks and hid their money around the house. The last 3 or so generations have always trusted the banking system and have never given much thought to holding their wealth. Over the course of history it is more common than you may think to store your own wealth. 
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