Wednesday, March 23, 2016

It's Official: Canadian Bank Depositors Are Now At Risk Of Bail-Ins
...we have official confirmation that Canada has just become the latest country to treat depositors as the bank creditors they are, and as such, they too will be impaired, or "bailed-in" the next time a Canadian bank needs to be rescued. 

This new "bail-in" regime is spun as benefitting taxpayers; what isn't mentioned is that most of those taxpayers who will be "protected" also happen to be the impaired depositors (also known as creditors) in these soon to be bailed-in banks, which begs the question: just who or what is being protected here? 

Fascism, American Style

Thursday, March 17, 2016

Munich Re stashes gold and cash to counter negative rates

I love how insurance agents and financial advisers demonize gold as they sell their paper to unwitting clients.  Fiat currency will die an ugly death as it always does.

Friday, March 4, 2016

ALERT: Andrew Maguire – Western Central Planners Have Finally Lost Control Of The Gold Market

Long story short:  if you think you own gold via the gold ETF holdings like GLD, you don't own any gold.  You only have a legal claim to a phantom bar of gold.  The same is true if you are long a gold COMEX futures contract, or have your unallocated gold "stored" in a vault.  These are merely contracts, legal paper claims to gold bars which don't exist.  For every 500 ounces of paper gold traded on a daily basis in financial exchanges, only one ounce of physical gold backs them up.

This is why you should only possess physical gold.

Why We’re Ungovernable, Part 13: The Unprotected Push Back

I've always said Americans should expect a repeat of the French Revolution--not the American Revolution.  The rot is within, not necessarily a foreign culprit.

Chicago State University sends layoff notices to all 900 employees

How is this even possible in a "record recovery", according to Obama?  In his own backyard, no less.

President Obama Takes Economic Victory Lap (After Biggest Wage Drop On Record)

BlackRock Suspends ETF Issuance Due To "Surging Demand For Gold"
It appears the huge demand for physical gold (and lack of supply) is finally catching up with the manipulation of paper prices.

Thursday, March 3, 2016

The Tragedy Of California's Public Pensions

"It Hasn't Been This Bad Since The Viking Age": Dry Bulk CEO Warns Of Bankruptcy Tsunami, Counterparty Risk

When global trade plummets (and it IS collapsing, despite political rhetoric), companies file bankruptcy, banks collapse, people lose their jobs, and people starve.  Result:  war.

Bridgewater’s Ray Dalio Says ‘I’m Not Bearish on Stocks

I saw this interview on Bloomberg TV live this morning and do respect and agree with most of Ray Dalio's opinions on markets and debt cycles.  Normally, I would be suspicious of anything a manager of the world's largest hedge fund (Bridgewater) recommends, but Dalio is refreshingly candid in his analysis, which does include criticism of central bank monetary policies.

The interview might have been shocking or disappointing to most audiences, but it was very rational for me.  What was more revealing is the fact that Dalio explicitly said a 5%-10% allocation in gold is prudent for any asset portfolio diversification strategy.  Bloomberg conveniently left out that part of the interview in their article below.

The reasoning is crystal clear.  One of their "own" (i.e. revered financiers) went off the reservation and recommended gold.  Yet, while Bloomberg News published an article about the interview's contents, they conveniently refused to include that portion about gold in the article.  They covered diverse topics ranging from short-term debt cycles, long-term debt cycles, equities, credit, China, interest rates, the economy, monetary and fiscal policies, to inflation, but the article refuses to mention anything about gold, despite it being a core asset of Dalio's recommendation.

The anti-gold media bias is obvious for anybody alert enough to pick up on it--especially when coming from pro-Wall Street media propagandists like Bloomberg and CNBC.  That's exactly why I'm more thoroughly convinced than ever that gold's best days are ahead.

It's Official: Canada Has Sold All Of Its Gold Reserves

My question to all citizens: has Canada sold out its own citizens by depleting its national gold reserves to zero?  In my opinion, Canada's finance ministers just bankrupted its future.  There will be hell to pay for Canadians.

Please Google "Brown's bottom".