Gold World News Flash |
- Richard Russell – Shorts May Get Crushed In The Silver Market
- Gold Daily and Silver Weekly Charts – How Long Phase II of the Gold Pool Can Be Sustained
- Where the World's Unsold Cars Go To Die
- Prepare for the Death of the Petrodollar
- Bernanke Shocker: "No Rate Normalization During My Lifetime"
- Jesse's Cafe Americain: How long can Phase II of the gold pool be sustained?
- How Long Can Phase II of the Gold Pool Be Sustained?
- Economy Collapse 2014 -- Current Economic Collapse News Brief
- It’s Far Worse Today Than At The Beginning Of 2008 Collapse
- Future For Gold As Uncertain As It Is Certain. Silver Will Lead/Follow.
- Oil Interests behind Ukraine Unrest ?
- Central Bankers Are Maneuvering To Cover Up The Economic Collapse With WAR
- Koos Jansen: Chinese real estate debt is being settled in silver
- Future For Gold As Uncertain As It Is Certain. Silver Will Lead/Follow
| Richard Russell – Shorts May Get Crushed In The Silver Market Posted: 17 May 2014 11:30 PM PDT from KingWorldNews:
I think the best thing I can do now is to review a number of interesting and informative charts. There’s currently a very large short interest in "paper silver" on the COMEX. This could prove explosive if silver starts to advance in convincing fashion. I have included a daily chart of silver below. At this juncture, the moving averages on silver are extremely important. If either of the moving averages are bettered, I believe we will see the beginning of a short covering panic in silver. |
| Gold Daily and Silver Weekly Charts – How Long Phase II of the Gold Pool Can Be Sustained Posted: 17 May 2014 07:00 PM PDT from Jesse's Café Américain:
The central banks coordinated concerted methods of gold sales to balance spikes in the market price of gold as determined by the London morning gold fixing while buying gold on price weaknesses. The United States provided 50% of the required gold supply for sale. The price controls were successful for six years until the system became no longer workable. The pegged price of gold was too low and runs on gold, the British pound, and the US dollar occurred and France decided to withdraw from the pool. The London Gold Pool collapsed in March 1968. The London Gold Pool controls were followed with an effort to suppress the gold price with a two-tier system of official exchange and open market transactions, but this gold window collapsed in 1971 with the Nixon Shock, and resulted in the onset of the gold bull market which saw the price of gold appreciate rapidly to US$850 in 1980.” Wikipedia, The London Gold Pool |
| Where the World's Unsold Cars Go To Die Posted: 17 May 2014 06:32 PM PDT In the past several years, one of the topics covered in detail on these pages has been the surge in such gimmicks designed to disguise lack of demand and end customer sales, used extensively by US automotive manufacturers, better known as "channel stuffing", of which General Motors is particularly guilty and whose inventory at dealer lots just hit a new record high. But did you know that when it comes to flat or declining sales and stagnant end demand, channel stuffing is merely the beginning? Presenting... Where the World's Unsold Cars Go To Die (courtesy of Vincent Lewis' Unsold Cars) Above is just a few of the thousands upon thousands of unsold cars at Sheerness, United Kingdom. Please do see this on Google Maps....type in Sheerness, United Kingdom. Look to the west coast, below River Thames next to River Medway. Left of A249, Brielle Way. Timestamp: Friday, May 16th, 2014. There are hundreds of places like this in the world today and they keep on piling up... THE WORLDS UNSOLD CAR STOCKPILE Houston...We have a problem!...Nobody is buying brand new cars anymore! Well they are, but not on the scale they once were. Millions of brand new unsold cars are just sitting redundant on runways and car parks around the world. There, they stay, slowly deteriorating without being maintained. Below is an image of a massive car park at Swindon, United Kingdom, with thousands upon thousands of unsold cars just sitting there with not a buyer in sight. The car manufacturers have to buy more and more land just to park their cars as they perpetually roll off the production line. There is proof that the worlds recession is still biting and wont let go. All around the world there are huge stockpiles of unsold cars and they are being added to every day. They have run out of space to park all of these brand new unsold cars and are having to buy acres and acres of land to store them. NOTE: The images on this webpage showing all of these unsold cars are just a very small portion of those around the world. There are literally thousands of these "car parks" rammed full of unsold cars in practically every country on the planet. Just in case you were wondering, these images have not been Photoshopped, they are the real deal! Its hard to believe that there are so many unsold cars in the world but its true. The worse part is that the amount of unsold cars keeps on getting bigger every day. It would be fair to say that it is becoming a mechanical epidemic of epic proportions. If anybody from outer space is reading this webpage, we here on Earth have too many cars, why not come and buy a few hundred thousand of them for your own planet! (sorry but this is all I can think of) Below is shown just a few of the 57,000 cars (and growing) that await delivery from their home in the Port of Baltimore, Maryland, U.S.A. With Google Maps look South of Broening Hwy in Dundalk for the massive expanse of space where all these cars are parked up. The car industry would never sell these cars at massive reductions in their prices to get rid of them, no they still want every buck. If they were to price these cars for a couple of thousand they would sell them. However, nobody would then buy any expensive cars and then they would end up being unsold. Its quite a pickle we have gotten ourselves into. Below is shown an image of the Nissan test track in Sunderland United Kingdom. Only it is no longer being used, reason...there are too many unsold cars parked up on it! The amount of cars keeps on piling up on it until its overflowing. Nissan then acquires more land to park up the cars, as they continue to come off the production line. UPDATE: Currently May 16th, 2014, all of these cars at the Nissan Sunderland test track have disappeared? Now I don't believe they have all suddenly been sold. I would guess they may have been taken away and recycled to make room for the next vast production run. Indeed next to that test track and adjacent to the Nissan factory, they are collating again as shown on the Google Maps image below. So where did the last lot go? This is not an employees car park by the way. None of the images on this webpage are of ordinary car parks at shopping malls, football matches etc. Trust me, they are just mountains and mountains of brand spanking new unsold cars. There is no real reason why you should be driving an old clunker now is there? The car industry cannot stop making new cars because they would have to close their factories and lay off tens of thousands of employees. This would further add to the recession. Also the domino effect would be catastrophic as steel manufactures would not sell their steel. All the tens of thousands of places where car components are made would also be effected, indeed the world could come to a grinding halt. Below is shown just a small area of a gigantic car park in Spain where tens of thousands of cars just sit and sunbathe all day. They are also piling up at the port of Valencia in Spain as seen below. They are either waiting to be exported to...nowhere or have been imported...to go nowhere. Tens of thousands of cars are still being made every week but hardly any of them are being sold. Nearly every household in developed countries already has a car or even two or three cars parked up on their driveway as it is. Below is an image of thousands upon thousands of unsold cars parked up on a runway near St Petersburg in Russia. They are all imported from Europe, they are all then parked up and they are all then left to rot. Consequently, the airport is now unusable for its original purpose. The cycle of buying, using, buying using has been broken, it is now just a case of "using" with no buying. Below is an image of thousands of unsold cars parked up on an disused runway at Upper Heyford, Bicester, Oxfordshire. They are seriously running out of space to store these cars. It is a sorry state of affairs and there is no answer to it, solutions don't exist. So the cars just keep on being manufactured and keep on adding to the millions of unsold cars already sitting redundant around the world. Below are parked tens of thousands of cars at Royal Portbury Docks, Avonmouth, near Bristol in the United Kingdom. If you look on Google Maps and scan around the area at say 200ft you will see nothing but parked up unsold cars. They are absolutley everywhere in that area practically every open space has unsold cars parked up on it. Below is that same area in Avonmouth, UK, but zoomed out. Every gray space that you see is filled with unsold cars. Anyone want to hazard a guess at how many are there... As it is, there are more cars than there are people on the planet with an estimated 10 billion roadworthy cars in the world today. We literally cannot make enough of them. Below are seen just a few of the thousands of Citroen's parked up at Corby, Northamptonshire in England. They are being added to daily, imported from France but with nowhere else to go once they arrive. So there they sit, brand spanking new cars, all with a couple of miles on the clock that was consummate with them being driven to their car parks. Below is the latest May 2014 Google Maps image of unsold cars in Corby, Northamptonshire. Manufacturing more cars than can be sold is against all logic, logistics and economics but it continues day after day, week after week, month after month, year in year out. Below is shown a recent (April 2014) screen grab from Google Maps of the Italian port of Civitavecchia. All those little specks are a few thousand brand new unsold Peugeots. Just collecting dust and maybe a bit of salty sea spray! Below, all nice and shiny but with nowhere to go. Red and white and black and silver, purple, pink and blue, all the colors of the rainbow and be they all brand new. Indeed all the colors of the rainbow are down there on those cars, making pretty mosaics, montages of color and still life. Maybe that is all they will now ever be, surreal urban art of the techno production age. Magnificent metal boxes, wasting space and saving grace, all sitting still, because its business at mill. All around the world these cars just keep on piling up, there is no end in sight. The economy shouts out quite loud that nobody has the money anymore to spend on a new car. The reason being that they are making their "old" cars go on a lot longer. But we cannot stop making them, soon we will run out of space to park them. We are nearly running out of space to drive them that's for sure! Below, more cars mount up in the port of Valencia in Spain. They will not be exported as there is nowhere for them to go, so they just sit and rot in their colorful droves. Gone are the days when the family would have a new car every year, they are now keeping what they have got. It may be fair to say that some families still get a new car every year but its the majority that now do not. The results are in these images, hundreds of thousands if not millions of cars around the world are driven from their factories, parked up and left. Could we say that these cars have been left to rot! Maybe, as these cars will certainly rot if they are not bought, driven and cared for. It does not look like they will be sold any day soon, many of them have been standing for over 12 months or even longer and this is detrimental to the car. Below, as far as the eye can see, right into the background, cars, cars and more cars. But what's beyond the horizon? Have a guess...Yes that's right...even more cars! All brand new but with no homes to go to. Do you think they will ever start giving them away, that may be the only radical solution. Who knows, you could soon be getting a free car with every packet of cornflakes. When a car is left standing idle, all the oil sinks to the bottom of the sump, and then corrosion begins to set in on all the internal engine parts where the oil has drained away. Cold corrosion is when condensation builds up in the cylinders and rust forms in the bores. The engines would then start to seize and would need to be professionally freed before they could be started. Also the tires start to lose air and the batteries start to go flat, indeed the detrimental list goes on and on. So the longer they sit there the worse it slowly becomes for them. What is the answer to this? Well they need to be sold and that just isn't happening. The epidemic is not improving, it is getting worse. Car manufactureres are constantly coming out with new models with the latest technology in them. Hence prospective buyers of, for example, a new Citroen Xsara Picasso want the latest model, not last years model. Hence all the unsold Citroen Xsara Picasso cars from the previous year will now have even lesser chance of being sold. The problems then just keep on mounting up. In the end, the unsold cars that are say 2 years old will have no alternative but to be either crushed up, dismantled and/or their parts recycled. Some car manufacturers moved their production over to China, General Motors and Cadillac are examples of this. They are then shipped over in containers and unloaded at ports. However they are now being told to put a big halt in their import into the U.S.A. as they just can't sell them in the quantities they would desire. Consequently Chinese car parks are now filling up with brand new American cars. Well nobody in China can afford them on their meagre pittance wages, so there they will stay until our economy improves...which it might do in a few generations. |
| Prepare for the Death of the Petrodollar Posted: 17 May 2014 06:30 PM PDT by Addison Wiggin, Daily Reckoning.com:
We're in debt to Mr. Townsend for helping us tease out the petrodollar's endgame here. Erik parlayed the fortune from his first career as a software entrepreneur into a second career as a hedge fund manager who knows the oil futures market inside out. Think about it, he says: Where's the incentive to keep pricing oil in dollars and maintaining large dollar reserves if the U.S. is no longer your biggest customer? "The petrodollar system breaking down, where oil is no longer paid for in dollars internationally, essentially would be the death knell to the U.S. dollar as the reserve currency. It means the U.S. can't borrow with 'exorbitant privilege' anymore, and it means the U.S. Treasury market is set for an out-of-control interest rate spiral." |
| Bernanke Shocker: "No Rate Normalization During My Lifetime" Posted: 17 May 2014 05:47 PM PDT Forget all talk about "dots", "6 months", or any other prognostication from the Fed's new leadership about what will happen in the near and not so near future. For the real answer prepare to shelve out the usual fee of $250,000 for an hour with the Chairsatan, or read Reuters' account of what others who have done so, have learned. The answer is a stunner. "At least one guest left a New York restaurant with the impression Bernanke, 60, does not expect the federal funds rate, the Fed's main benchmark interest rate, to rise back to its long-term average of around 4 percent in Bernanke's lifetime. "Shocking when he said this," the guest scribbled in his notes. "Is that really true?" he scribbled at another point, according to the notes reviewed by Reuters." To think one could have read Zero Hedge for free for the past 5 years and gotten the same answer (time for a pop quiz: pumping liquidity into a closed system in perpetuity is i) inflationary or ii) deflationary?). But no, one would rather pay Bernanke's former annual salary in less than an hour to get the answer from the same person who infamously stated that "subprime was contained", that "there is no housing bubble", and that he doesn't buy the premise of house price declines as there has never been a "decline of house prices on a nationwide basis." Still, one can't blame Bernanke for providing a service that the market (one market the former chairman didn't manage to break with his central planning spree, unlike all other markets) demands. Alan Greenspan waited only a week after his departure before addressing a private dinner hosted by Lehman Brothers, the investment bank whose collapse in 2008 sent the financial crisis into high gear. Bernanke's private dinners, all of which cost around $250,000 began near the end of March, roughly two months after his retirement. We say around because while Greenspan has already been rocked by 50% deflation in his "assets", Bernanke too is starting to realize that without constant liquidity injections, his "inflationary" days are also numbered:
Certainly expect the price of a Bernanke dinner to tumble now that virtually everyone who matters, and can afford the fee, has already listened to the Chairsatan in private, and the value of Bernanke's insight has been, shall we say, "diluted":
Oh yeah, it was Bernanke hinting that Tsys are due for a surge - nothing to do with the fact that the global economy is stalling and that everyone and the kitchen sink was short rates, launching one of the biggest short squeezes in recent history. Not surprisingly, not everyone is a happy customer:
As for Bernanke's profound insight, it appears all he really did is admit that he failed at stimulating the economy.
In other words, blame Congress for slowing down the economy as it did not engage in reform, the same Congress which explicitly made it clear it would not engage in reform and told the Mr. Chairman "to get to work" to compensate for Congressional ineptitude. And now Bernanke has the gall to blame Congress, which is only able to do what it does thanks to, you guessed it, the Fed's ZIRP policy. Of course, the slowing down of the economy, snow or no snow, is precisely the reason why bonds are bid. We explained as much recently:
Or, in other words, the Taper will lead to the Untaper, as we predicted exactly one year ago, leading to QE number... we don't even know the nuimber any more - 5, 6, 7? Rinse. Repeat. As for the conclusion:
The biggest shocker is not that Bernanke punked the market once again and after 5 years of QE the US economy is once again headed into a tailspin - most people with some common sense knew that in 2009. The shocker is that people are willing to pay even $1, let alone $250,000, to listen to Bernanke speak. |
| Jesse's Cafe Americain: How long can Phase II of the gold pool be sustained? Posted: 17 May 2014 05:39 PM PDT 8:35p ET Saturday, May 17, 2014 Dear Friend of GATA and Gold: The London Gold Pool has been reinstated and is holding gold to $1,300 and silver to $20, Jesse's Cafe Americain argues this week. Jesse writes: "Phase I of the current gold pool ended with the collapse of the Washington Agreement, which was an attempt to prop up a failing arrangement often called Bretton Woods II. This failure became unmistakable with the change in central bank behavior toward gold, from net sellers to net buyers, with the revolt of the BRICs. "We are in Phase II now, which is a loose confederation of Western banks being led by the Fed and the Bank of England, which are attempting to maintain the status quo and U.S. dollar hegemony. "But the Western banks are running a bit of a con game with the dollar, as it has already lasted well beyond its prime. You really cannot base global economics on a piece of paper that one country creates at will for its own domestic and foreign policy conveniences." Jesse's commentary is headlined "How Long Can Phase II of the Gold Pool Be Sustained?" and it's posted here: http://jessescrossroadscafe.blogspot.ca/2014/05/gold-daily-and-silver-we... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Buy precious metals free of value-added tax throughout Europe Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries. Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world. Visit us at www.europesilverbullion.com. Join GATA here: Committee for Monetary Research and Education http://www.cmre.org/news/spring-meeting-2014/ Porter Stansberry Natural Resources Conference Canadian Investor Conference 2014 http://cambridgehouse.com/event/25/canadian-investor-conference-2014-inc... New Orleans Investment Conference https://jeffersoncompanies.com/new-orleans-investment-conference/home * * * 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 Safe and Private Allocated Bullion Storage In Singapore Given the increasing risks in financial markets, it is more important than ever to own physical bullion coins and bars and to store them in the safest vaults in the world in the safest jurisdictions in the world. Gold advocates Jim Sinclair and Marc Faber have recommended Singapore. Now, with GoldCore, you can own coins and bars in fully insured, segregated, and allocated accounts in Singapore with the ability to take delivery. Learn more by downloading GoldCore's Essential Guide To Storing Gold In Singapore: http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore And for more information call Daniel or Sharon at +44 203 0869200 in the United Kingdom or at +1-302-635-1160 in the United States. Or email them at info@goldcore.com. |
| How Long Can Phase II of the Gold Pool Be Sustained? Posted: 17 May 2014 05:00 PM PDT by Ed Steer, Casey Research:
The high and low ticks were recorded by the CME as $1,298.30 and $1,287.70 in the June contract. Gold finished the Friday trading session in New York at $1,292.70 spot, down $4.10 from Thursday’s close. Net volume was very quiet—only 84,000 contracts. |
| Economy Collapse 2014 -- Current Economic Collapse News Brief Posted: 17 May 2014 01:48 PM PDT In this news brief we will discuss the latest news on the economic collapse. We look to see if things are really that different. The central bank will not stop at just confiscating your wealth they will want your life. They want to enslave the people. [[ This is a content summary only. Visit http://www.GoldSilverNewsBlog.com or http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  |
| It’s Far Worse Today Than At The Beginning Of 2008 Collapse Posted: 17 May 2014 11:34 AM PDT  With a non-stop flow of propaganda from Western mainstream media outlets, today Michael Pento warned King World News that despite the propaganda the situation in the world is actually far worse today than it was at the beginning of the 2008 collapse. Pento also includes an ominous warning at the end of his piece.This posting includes an audio/video/photo media file: Download Now |
| Future For Gold As Uncertain As It Is Certain. Silver Will Lead/Follow. Posted: 17 May 2014 10:12 AM PDT Based on several thousand years of history, and based on the last 100 years of fiats, gold will continue to rise as a store of value, and almost all fiats will fail, massively. Which fiats will continue? The Yuan and the Ruble, for two. The Panama Balboa is another possibility, but Panama will have to do some sorting out to get rid of the fiat US dollar, its paper currency. The official money of account is the Panama balboa, but it ceased printing around 1941, in favor of the US dollar. This little Central American country has been making preparations to disassociate from the fiat Federal Reserve Notes. For all the gold China has been accumulating this past decade, it is unlikely that China will back the yuan by gold. It would be too problematic for what it would do to its economy. Russia has been a lesser buyer of gold, but it also has tremendous reserves that it mines every year, adding to its holdings. Its natural gas resource has taken center stage as a backing for the ruble. Russia will also unlikely want to back the ruble by gold. There have been numerous articles from reliable sources that have been calling for a new gold-backed currency to replace the waning Federal Reserve petrodollar as the world's reserve currency, many thinking a gold-backed yuan as a prime candidate. In this regard, gold's future is uncertain. It will undoubtedly play a significant role, but not likely linked to one specific country as a new world reserve currency. From the solidifying financial and economic ties between China and Russia, China and several other natural resource rich countries, and the BRICS alliance, a strong possibility lies in contractual ties amongst all these countries, and not a single nation gold-backed currency. A perfect example is what will likely be concluded next week between China and Russia, the largest ever natural gas deal. The deal is between Russia's Gazprom and China National Petroleum Corporation. All that needs to be finalized is the price. What will decidedly not be a part of the deal is any Federal Reserve Dollar as a part of the pricing mechanism, nor any use of the fiat "dollar." Expect to see more and more international dealings by Eastern and BRICS nations that preempt the soon-to-be-former world reserve "dollar." Obama does not "speak softly," nor does he carry a "big stick." ["Speak softly and carry a big stick," was first used by Theodore Roosevelt when he wanted Congress to increase the amount of money he needed to carry out and define his foreign policy, using "diplomacy" backed by military might, America's [outdated] foreign policy to this day.] So Obama's sanctions and threats against Russia ring hollow, and all parties concerned know it. Russia has more than enough natural resources and more than enough willing customers to not worry about Obama, the US, or its fiat "dollar." Russia's Ministry of Finance has already announced plans to use the ruble in all future contracts as Russia takes more steps toward "de-dollarization." China has been acting in a similar capacity as it has been making deals with several other countries, outside of the "dollar." Prior to the Rothschild elites forcing the US into official bankruptcy in 1933, [from which point in time forward, the US has been owned by a few select international bankers...a fact about which almost all American remain ignorant], prior to 1933, the US used gold as a backing in it contracts with other nations, so there is a viable history for using gold, and any other natural resource, [oil, copper, natural gas, as a few other examples] as an integral part of contracts and foreign exchange. The deal with China may require backing with gold, to some degree, as a guarantee. There may be a clause that exchanges yuan or rubles for gold, silver, copper, etc, without the necessity of any country having a gold-backed currency. A soon-to-be relegated-to- third-world-status country, like the United States, would not be able to participate, by virtue of the fact that it will be unable to bring anything to the bargaining table. All other countries will engage based upon a relatively hard currency and/or a natural resource to act as collateral. China, Russia, Panama, other BRICS, Turkey, Iran, et al, can keep their fiat currency, but simply back up any contract with acceptable collateral, oil for gold, gold or some acceptable equivalent for whatever is being sold. This will eliminate the stronghold that the US and UK have maintained for the past century, and the military might will become a whisper of what it used to be. For now, however, the military remains very much a tool of desperation as the once mighty West continues its unabated slide into a decline from which it cannot recover. The time frame between now and then remains an unknown, and it is very likely that the elites will cause major disruptions, like Ukraine, aiming for what it knows best, profitable war. Countries and people suffer, but the Rothschild formula for creating chaos, leading to war, provides incredible wealth for themselves. With the US Gestapo Homeland Security purchasing billions of bullets, 7,000 NATO personal defense weapons, aka the kind of assault weapons used by civilians that the Obama/United Nations wants to outlaw, and now the Department of Agriculture wanting to buy submachine guns, it is very apparent that the elite-controlled corporate federal government is preparing for war…against Americans in their own country. This will not end well, and perhaps for the first time, the ravages of war will be confined to the US. Over a year ago, we were going to do an article on the Department of Homeland Security, [If you guess the Homeland to be secured is the US, you would be wrong. The Homeland to be secured, at all costs, is the corporate federal government.] The reason for not doing the article was the content, the fact that Homeland Security has hundreds of "camps" around the country, where, thanks to the Bush Patriot Act and Obama's National Defense Authorization Act, on top of the 1933 amendment to the Trading With The Enemy Act, [the Amendment made U S citizens the enemy within their own country...read the Act.], the corporate federal government can declare anyone an enemy and held without rights of any kind, and for any duration. Think of Guantanamo Bay coming to roost on US soil. There was more. Homeland Security has also purchased tens of thousands of caskets, stacked up, row after row after row. Draw your own conclusion as for whom they are intended. No country at war has a history of bringing back war victims to be buried in special camps. The uncertainty for the role of gold has yet to be defined. Expectations for a gold-backed currency may be misplaced. It could happen, but it seems unlikely that the largest holders of gold have an interest in putting themselves at an economic disadvantage by pricing out their exports. However, within whatever the realm of uncertainty for gold's specific role is, it will undoubtedly remain pivotal. Rising from the ashes of central banker suppression for the past several decades, it is certain that the price will go higher. Will it be $10,000, or as high as $50,000 the ounce, the price range so often speculated on as its next level of price reality? Who knows? It will be determined by a freer market than it has been for over eight decades, or more. Regardless of where the prices of both gold and silver finally reach, it should not matter to anyone who is prepared. The best way to participate is to be prepared. The best way to be prepared is to already own physical gold and silver. The handwriting is on the wall. Western fiats are destined to fail, not next week, not next month, maybe not even this year, but failure is coming, and the unelected European "officials" are doing whatever they can to steal whatever they can get away with. In the United States, the foreign-owned Federal Reserve has been stealing wealth through the harder to detect, but equally as insidious inflation. With the fiat Federal Reserve Note worth about 3 cents today, relative to 1913 dollars, that means the Fed stole 97 cents of every dollar over the past century. If you do not understand inflation, it is the debasement of money, and the value debased goes to the benefit of the issuer. The Fed does nothing if it is not for its own benefit. Expectations that gold would respond to the Rothschild-inspired, US-led Ukrainian situation have been proven wrong. For as long as the US/UK/EU troika can exert any degree of control over those governed, for as long as central bankers control all Western countries and fiat purse strings, gold and silver will remain in their bottoming phase, and the bottoming process can last for longer than most expect. Neither gold nor silver appear to be turning up, and for that look, we turn to our favorite topic, charts. If gold or silver appear to be unresponsive to known news, be it how much China is buying, potential war breakout in Ukraine, financially flagging EU, the US losing control on so many fronts, it is because both are still under the control of relatively unseen forces that continue to exert pressure, like a helium-filled balloon being kept under water. Many say that the charts are irrelevant, but no one is pointing to anything else that is. For as long as we have been following markets via charts, those of gold and silver have told the most accurate story in the face of news and events that would suggest otherwise. Before gold can rally, it has to first turn the trend from down to up. We see no evidence of a change in trend. The bearish spacing is repeated, again, as a reminder that it represents a weak market within its down trend. How anyone can posit a bullish scenario from what the charts show flies in the face of known facts, as depicted in the charts. The biggest fact upon which almost all can agree is that the trend remains down. Within that context, there are slight signs of bottoming activity, such as the current two month TR holding near a 50% retracement of the last swing low to swing high. For this to occur in a down market is a plus; not enough to turn the trend, but what could lead to a change in trend. Also, within the past two months the weekly closes are clustering, a sign of a pause before the previous trend resumes, or a resting period that can begin a market turn. For now, there is no confirmation, either way. The shorter perspective of a daily chart indicates a recent up trend that has turned neutral. The most important elements for reading developing market activity in any charts are price and volume. Everything else can almost be ignored. Three weeks ago was the 3rd highest volume of the month, occurring on a lower close, indicating sellers "won" the battle for that day. Volume is important. The volume increase should lead to a lower market. Yet, when you look at that specific day, it was an inside day, relative to the previous up day. The question to ask then is, why did all of that increase in volume not take out the low of the previous day, and why was that day's range slightly narrower? While sellers won the battle that day, in context to the increased volume, it was buyers that prevented the effort of the sellers from achieving a lower level. Friday was a lower low, but notice this time, volume declined, and the close was mid-range the bar, a stand-off between buyers and sellers, but more of an edge to buyers for stopping the momentum of the sellers. Price closed just about dead center of the two month TR, and that says balance. From balance comes unbalance, and the further price moves along the RHS, [Right Hand Side], of a TR, the closer is the TR resolve, in either direction. Instead of having to guess in which direction price may move, it is better to be prepared for either event and then act accordingly. From the August 2013 swing high, price went into a protracted and labored retreat until the beginning of February 2014. After a three-week rally, from the February swing high, price once again was in a labored 12 week decline. When it takes sellers four times as long to correct a market that is in a clear down trend, it tells us sellers are generally weak. Last week, it was mentioned that when an area is continually retested, it becomes weaker and subject to being broken, unless buyers, in this instance, can show more strength. A look at a more detailed daily chart may be helpful in getting greater clarity on the chance of silver make a new recent low. There have been a few attempts to sell silver to yet lower levels, since late April, and on each occasion, silver was able to rebound and close well on strong rally days. One would not expect to see that kind of relative strength in a down market. The decrease in trading volume on Friday indicates relative weakness by sellers for not being able to drive price lower than occurred. Price needs to get above 20, and hold, if buyers want to wrest control from sellers. If not, sellers will see this buyer inability, and that may prompt sellers to try for new lows. Silver will also be certain in seeing eventual higher prices. With the gold/silver ratio at the high end, favoring gold, and silver tending to lead PM rallies, silver could outperform gold to the upside, once the trends change. For this reason, silver may be the one to watch. |
| Oil Interests behind Ukraine Unrest ? Posted: 17 May 2014 08:38 AM PDT Money talks BS walks. In the immortal words of Ted Dibiase (the million dollar man), everyone has a price. Self-defense forces are on full alert in East Ukraine's newly proclaimed Donetsk People's Republic. The region cut ties with Kiev after a popular vote last Sunday - and activists are... [[ This is a content summary only. Visit http://www.GoldSilverNewsBlog.com or http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  |
| Central Bankers Are Maneuvering To Cover Up The Economic Collapse With WAR Posted: 17 May 2014 08:27 AM PDT A German report was released stating that the sanctions on Russia will result in irreparable damage to Germany. Housing permits are up but not for single family homes. Rentals are on the rise and permits for single family homes are down. Obamacare premiums are going up next year. McCain wants... [[ This is a content summary only. Visit http://www.GoldSilverNewsBlog.com or http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  |
| Koos Jansen: Chinese real estate debt is being settled in silver Posted: 17 May 2014 08:08 AM PDT 11a ET Saturday, March 17, 2014 Dear Friend of GATA and Gold: Silver is not only trading in backwardation in China, gold researcher and GATA consultant Koos Jansen reports, but it is also trading at a great premium to real estate, being used to settle debt on real estate whose price is collapsing. Jansen's commentary is headlined "Chinese Real Estate Debt Settled in Silver, SGE Premium 5.7%" and it's posted at his Internet site, In Gold We Trust, here: http://www.ingoldwetrust.ch/chinese-real-estate-debt-settled-in-silver-s... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Safe and Private Allocated Bullion Storage In Singapore Given the increasing risks in financial markets, it is more important than ever to own physical bullion coins and bars and to store them in the safest vaults in the world in the safest jurisdictions in the world. Gold advocates Jim Sinclair and Marc Faber have recommended Singapore. Now, with GoldCore, you can own coins and bars in fully insured, segregated, and allocated accounts in Singapore with the ability to take delivery. Learn more by downloading GoldCore's Essential Guide To Storing Gold In Singapore: http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore And for more information call Daniel or Sharon at +44 203 0869200 in the United Kingdom or at +1-302-635-1160 in the United States. Or email them at info@goldcore.com. Join GATA here: Committee for Monetary Research and Education http://www.cmre.org/news/spring-meeting-2014/ Porter Stansberry Natural Resources Conference Canadian Investor Conference 2014 http://cambridgehouse.com/event/25/canadian-investor-conference-2014-inc... New Orleans Investment Conference https://jeffersoncompanies.com/new-orleans-investment-conference/home * * * 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 Buy precious metals free of value-added tax throughout Europe Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries. Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world. Visit us at www.europesilverbullion.com. |
| Future For Gold As Uncertain As It Is Certain. Silver Will Lead/Follow Posted: 17 May 2014 07:36 AM PDT Based on several thousand years of history, and based on the last 100 years of fiats, gold will continue to rise as a store of value, and almost all fiats will fail, massively. Which fiats will continue? The Yuan and the Ruble, for two. The Panama Balboa is another possibility, but Panama will have to do some sorting out to get rid of the fiat US dollar, its paper currency. The official money of account is the Panama balboa, but it ceased printing around 1941, in favor of the US dollar. This little Central American country has been making preparations to disassociate from the fiat Federal Reserve Notes. |
I am asking my subscribers to stick to the strategy I have suggested in recent weeks, and that strategy is to be in silver and gold (physical if possible), while holding a limited amount of cash as we await the antics of this erratic and difficult market.
“The London Gold Pool was the pooling of gold reserves by a group of eight central banks in the United States and seven European countries that agreed on 1 November 1961 to cooperate in maintaining the Bretton Woods System of fixed-rate convertible currencies and defending a gold price of US$35 per troy ounce by interventions in the London gold market.
"So let's say the U.S. is really not importing much Arab oil anymore," says Erik Townsend in a thought experiment. "Well, if that were the case, it's really hard to see why the Arabs would continue to price their oil in dollars, especially at that point; their biggest customers would be China and Brazil and countries that have no reason to deal in dollars."
Except for the fact that “da boyz” and their algorithms showed up at the New York open, it was pretty much a nothing sort of day in the gold market yesterday. With the gold price on an obvious very tight leash, it was a given that the price wasn’t going to be allowed above the $1,300 spot price mark, or the 200-day moving average.
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