Tuesday, December 31, 2013
Monday, December 30, 2013
Sunday, December 29, 2013
Saturday, December 28, 2013
Friday, December 27, 2013
Obamacare’s Many Negative Side-Effects Should Surprise No One
This is a must-read for all Americans.
http://mises.org/daily/6623/Obamacares-Many-Negative-SideEffects-Should-Surprise-No-One
http://mises.org/daily/6623/Obamacares-Many-Negative-SideEffects-Should-Surprise-No-One
Tuesday, December 24, 2013
Demand for food stamps soars as cuts sink in and shelves empty
America, home of the poor and hungry...but hey, it's all good as the prices of trophy real estate, rare art, diamonds, and stock markets are all soaring, right?
What Americans don't realize is the Fed's "stimulative" policies are enriching only the rich, while the rest of the economy is suffering. Printing money out of thin air doesn't stimulate the economy. It only deepens our country's debt problems.
http://www.theguardian.com/world/2013/dec/24/food-stamps-programmes-cuts-working-americans-texas
What Americans don't realize is the Fed's "stimulative" policies are enriching only the rich, while the rest of the economy is suffering. Printing money out of thin air doesn't stimulate the economy. It only deepens our country's debt problems.
http://www.theguardian.com/world/2013/dec/24/food-stamps-programmes-cuts-working-americans-texas
Monday, December 23, 2013
CNN Claims "Americans Want Security Over Freedom"
http://www.zerohedge.com/news/2013-12-22/cnn-claims-americans-want-security-over-freedom-0
"I think the American people, honestly, want security over freedom."
- Jake Tapper
"Any society that would give up a little liberty to gain a little security will deserve neither and lose both."
- Benjamin Franklin
How Americans Are Celebrating The "Recovery"
There appears to be a strong positive correlation between the Fed's balance sheet and alcohol consumption.
http://www.zerohedge.com/news/2013-12-22/how-americans-are-celebrating-recovery
http://www.zerohedge.com/news/2013-12-22/how-americans-are-celebrating-recovery
FRBNY: Sentiment Analysis And Social Media Monitoring Solution RFP
Not only is the NSA snooping on us, but so is the Fed apparently. Hi Ben! Hi Janet!
http://www.scribd.com/doc/66281284/Frbny-Social-Media-Rfp
http://www.scribd.com/doc/66281284/Frbny-Social-Media-Rfp
Sunday, December 22, 2013
CFTC Announces It Is Undercounting Size Of Swaps Market By As Much As $55 Trillion
Here's the thing: QE may be the Fed printing $75 billion per month to buy US Treasury bonds and mortgage-backed securities, but the counterfeiting, er...currency creation is actually much larger than that--in the form of currency swaps. Some estimate as much as $16 trillion since the 2008 financial crisis. That's why a few billion here or there isn't having any effect on the economy. The financial derivatives nearly crashed the global financial system in 2008.
The next banking and financial crises most assuredly will.
http://www.zerohedge.com/news/2013-12-19/cftc-announces-it-undercounting-size-swaps-market-much-55-trillion
The next banking and financial crises most assuredly will.
http://www.zerohedge.com/news/2013-12-19/cftc-announces-it-undercounting-size-swaps-market-much-55-trillion
Ponzimonium Revisited: An Interview from the Front Lines of the Battle against Investment Fraud
Those accused us of being "conspiracy theorists" should take a breather. All markets are manipulated. And you lose in that relationship. Get used to it.
http://govbooktalk.gpo.gov/2013/09/03/post-ponzimonium-an-interview-from-the-front-lines/
http://govbooktalk.gpo.gov/2013/09/03/post-ponzimonium-an-interview-from-the-front-lines/
Friday, December 20, 2013
Tuesday, December 17, 2013
Monday, December 16, 2013
Vladimir Putin orders speeding up of military presence in the Arctic
http://siberiantimes.com/other/others/news/vladimir-putin-orders-speeding-up-of-military-presence-in-the-arctic/
The firm Russian move came after Ottawa indicated it is mapping the Arctic seabed with a view to claiming the North Pole seabed as Canadian. This puts Canada at odds with Russia which argues the underwater Lomonosov Ridge is linked to the Siberian land mass.
At stake for both countries - and others with Arctic claims such as Denmark - are vast untapped oil and gas reserves.
Sunday, December 15, 2013
Saturday, December 14, 2013
Friday, December 13, 2013
Shocking Events & Big Picture In Gold As We Head Into 2014
This is brilliant, eloquent commentary on the gold market. It is long and esoteric, but if you don't understand every single concept, study it.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/12/12_Shocking_Events_%26_Big_Picture_In_Gold_As_We_Head_Into_2014.html
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/12/12_Shocking_Events_%26_Big_Picture_In_Gold_As_We_Head_Into_2014.html
Tuesday, December 3, 2013
Germany's regulators investigate manipulation in the gold market
And they called us conspiracy theorists? Back at ya...when this breaks open to the hoodwinked masses, there will be blood in the streets. The apologists will then try to accuse Germany of being a banana republic. Look in the mirror, America.
The worst atrocities in the world don't affect people until it hits home--or their wallets.
http://voiceofrussia.com/news/2013_11_29/Germanys-regulators-investigate-manipulation-in-the-gold-market-7326/
The worst atrocities in the world don't affect people until it hits home--or their wallets.
http://voiceofrussia.com/news/2013_11_29/Germanys-regulators-investigate-manipulation-in-the-gold-market-7326/
Monday, December 2, 2013
Live Stream From Escalating Ukraine Protests As Hundreds Of Thousands Take To The Streets
Arab spring.s is turning into Euro spring, and is a precursor to a global spring. That's what happens when the global reserve currency (USDollar) is getting destroyed by its issuer (US Treasury and Fed). Import prices are rising and putting food on the table is becoming increasingly impossible. Hence, that is why folks are taking it to the streets. It has nothing to do with evil dictators.
Most countries have lived through totalitarian regimes for centuries. They aren't risking life and limb today over ideological differences. They are starving.
http://www.zerohedge.com/news/2013-12-01/live-stream-escalating-ukraine-protests-hundreds-thousands-take-streets
Most countries have lived through totalitarian regimes for centuries. They aren't risking life and limb today over ideological differences. They are starving.
http://www.zerohedge.com/news/2013-12-01/live-stream-escalating-ukraine-protests-hundreds-thousands-take-streets
Sunday, December 1, 2013
Gold, Money, China & Frightening Worldwide Destruction
It takes the Swiss to understand real money. Having said that, even the Swiss Franc has been devalued by the Swiss National Bank. All fiat currencies are being destroyed.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/11/29_Gold%2C_Money%2C_China_%26_Frightening_Worldwide_Destruction.html
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/11/29_Gold%2C_Money%2C_China_%26_Frightening_Worldwide_Destruction.html
Saturday, November 30, 2013
Thursday, November 28, 2013
David Stockman Fears "Panic" When The "Lunatic" Fed "Loses Control"
Well, David Stockman certainly isn't drinking the Kool-Aid. I agree with him, but timing bursting of asset bubbles is never easy to do. As exaggerated as asset prices are in equities, they can become stretched to even more irrational levels in a melt up.
Even if nominal values appreciate, if the sovereign fiat currency in question is in a free fall, real wealth is not achieved. For example, if soaring stock markets are an accurate indicator of prosperity, Zimbabwe would be the wealthiest nation in the world. Clearly, that is not the case for the former advanced economy of the once-prominent Rhodesia.
Stockman's case for the Fed exporting currency devaluation to other countries is absolutely true, as central bank balance sheets are exploding globally. Jim Rickards wrote his best-selling Currency Wars on that very premise of a race to the bottom. Currency wars never end well, but when the entire planet is doing it (which is unprecedented in world history), the outcomes may very well be our worst nightmare economically.
http://www.zerohedge.com/news/2013-11-27/david-stockman-fears-panic-when-lunatic-fed-loses-control
Even if nominal values appreciate, if the sovereign fiat currency in question is in a free fall, real wealth is not achieved. For example, if soaring stock markets are an accurate indicator of prosperity, Zimbabwe would be the wealthiest nation in the world. Clearly, that is not the case for the former advanced economy of the once-prominent Rhodesia.
Stockman's case for the Fed exporting currency devaluation to other countries is absolutely true, as central bank balance sheets are exploding globally. Jim Rickards wrote his best-selling Currency Wars on that very premise of a race to the bottom. Currency wars never end well, but when the entire planet is doing it (which is unprecedented in world history), the outcomes may very well be our worst nightmare economically.
http://www.zerohedge.com/news/2013-11-27/david-stockman-fears-panic-when-lunatic-fed-loses-control
Wednesday, November 27, 2013
Here’s The Truth Governments Don’t Want The Public To See
Inflation 101: concepts that professional Keynesian economists can't or won't wrap their heads around.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/11/26_Heres_The_Truth_Governments_Dont_Want_The_Public_To_See.html
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/11/26_Heres_The_Truth_Governments_Dont_Want_The_Public_To_See.html
Monday, November 25, 2013
Sunday, November 24, 2013
Inflation is Raging – If You Know Where to Look
I would add BitCoin to the list of tangible assets experiencing inflation.
http://dollarcollapse.com/inflation/inflation-is-raging-if-you-know-where-to-look/
http://dollarcollapse.com/inflation/inflation-is-raging-if-you-know-where-to-look/
Saturday, November 23, 2013
Friday, November 22, 2013
PBOC Says No Longer in China’s Interest to Increase Reserves
The beginning of the end for USdollar supremacy...
http://www.bloomberg.com/news/2013-11-20/pboc-says-no-longer-in-china-s-favor-to-boost-record-reserves.html
http://www.bloomberg.com/news/2013-11-20/pboc-says-no-longer-in-china-s-favor-to-boost-record-reserves.html
Thursday, November 21, 2013
Wednesday, November 20, 2013
Labor Force Participation Rate
Word is finally leaking out that the Bureau of Labor Statistics fudges their unemployment data, painting a rosier employment picture than reality. It renders the U-3 unemployment rate completely meaningless and masks the truly precarious joblessness of the US.
The labor force participation rate is the true indicator of how putrid the labor economy is. It has sunk to a 35-year low. The US was embroiled in one of the worst recessionary stagflations under the Jimmy Carter presidency in 1978. The US economy wasn't growing then--and it's not growing today, despite equally rigged GDP growth data--again, released by the BLS.
Government statistics have become one big propaganda campaign of disinformation. Actual labor force participation may be even worse, as the rate is published by...you guessed it...the BLS.
The labor force participation rate is the true indicator of how putrid the labor economy is. It has sunk to a 35-year low. The US was embroiled in one of the worst recessionary stagflations under the Jimmy Carter presidency in 1978. The US economy wasn't growing then--and it's not growing today, despite equally rigged GDP growth data--again, released by the BLS.
Government statistics have become one big propaganda campaign of disinformation. Actual labor force participation may be even worse, as the rate is published by...you guessed it...the BLS.
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US Fed to get greater powers: Bernanke
As usual, the headlines are misleading. The Fed is enacting laws--in conjunction with the International Monetary Fund--to prevent a taxpayer-funded bank bailout at the onset of the next financial crisis. It sounds reasonable and noble enough, given the plundering of tax funds to recapitalize the collapsed banking industry in 2008.
The problem is the solutions they are now proposing, but are not being reported to the masses, include bank bail-ins, which target credit holders and "investors" in the bank. In other words, they will raid customer deposits.
http://www.heraldsun.com.au/business/breaking-news/us-fed-to-get-greater-powers-bernanke/story-fni0xqe4-1226756295740
The problem is the solutions they are now proposing, but are not being reported to the masses, include bank bail-ins, which target credit holders and "investors" in the bank. In other words, they will raid customer deposits.
http://www.heraldsun.com.au/business/breaking-news/us-fed-to-get-greater-powers-bernanke/story-fni0xqe4-1226756295740
Gold Manipulation Probed By U.K. Regulator
Every market has been rigged and manipulated. All except the precious metals sector. At least that's what the status quo wants the sheeple to believe.
http://www.zerohedge.com/news/2013-11-19/gold-manipulation-probed-uk-regulator
http://www.zerohedge.com/news/2013-11-19/gold-manipulation-probed-uk-regulator
Tuesday, November 19, 2013
Ex-Fed official: 'I'm sorry for QE'
This is another example of a former government official speaking the truth only AFTER he leaves office.
http://www.cnbc.com/id/101192690
http://www.cnbc.com/id/101192690
Moody’s cuts ratings of three big US banks
First the good news: tax payers will no longer be on the hook for bailing out banks in the event of a banking crisis.
Here's the bad news: depositors and credit holders will be raided in the event of a bank bail-in.
http://www.cnbc.com/id/101200595
Here's the bad news: depositors and credit holders will be raided in the event of a bank bail-in.
http://www.cnbc.com/id/101200595
Economists: Long-term joblessness is national emergency
It is not coincidental that former government workers only speak the truth AFTER they are no longer working for the government.
http://www.mcclatchydc.com/2013/04/24/189574/economists-long-term-joblessness.html
http://www.mcclatchydc.com/2013/04/24/189574/economists-long-term-joblessness.html
Monday, November 18, 2013
Saturday, November 16, 2013
Thursday, November 14, 2013
Sunday, November 3, 2013
eBay CEO weighs PayPal bitcoin option
I told you so. Those who doubted the legitimacy of digital currencies were short-sighted. I blogged about this here. Now Ebay and PayPal are planning to incorporate crypto-currencies. I knew this because I saw PayPal and VISA representatives at a small BitCoin gathering in San Francisco.
http://www.coindesk.com/ebay-ceo-weighs-paypal-bitcoin-option/
http://www.coindesk.com/ebay-ceo-weighs-paypal-bitcoin-option/
Annihilation of U.S. Dollar Coming-Jim Sinclair
Let me de-brief you on Jim Sinclair's track record. He predicted gold would soar above $850 in the 1970's, when it was fixed at $35. He sold at the 1980 absolute top--to the day, at $875.
When gold was languishing below $300 a decade ago, he predicted gold would reach $1650. In 2011, gold reached a peak of $1923. With gold in the low $1300's recently, he is forecasting price targets of $3,500--and $50,000.
I hope he is wrong. But over the last four decades, he hasn't been.
http://usawatchdog.com/jim-sinclair-50000-gold-us-dollar-collapse-hyperinflation-and-more/
When gold was languishing below $300 a decade ago, he predicted gold would reach $1650. In 2011, gold reached a peak of $1923. With gold in the low $1300's recently, he is forecasting price targets of $3,500--and $50,000.
I hope he is wrong. But over the last four decades, he hasn't been.
http://usawatchdog.com/jim-sinclair-50000-gold-us-dollar-collapse-hyperinflation-and-more/
Sinclair predicts, by 2016, “Gold will be $3,200 to $3,500 an ounce.” By 2020, Sinclair predicts, “Emancipated gold will be $50,000 per ounce.”
Israel ‘furious’ with White House for leak on Syria strike
The roster of US allies pissed of at Washington is growing. Conversely, the list of US allies is shrinking.
http://www.timesofisrael.com/israel-furious-with-white-house-for-leak-on-syria-strike/?utm_source=dlvr.it&utm_medium=twitter
http://www.timesofisrael.com/israel-furious-with-white-house-for-leak-on-syria-strike/?utm_source=dlvr.it&utm_medium=twitter
We Are Now In The “Last Innings” Of The End Game
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/31_We_Are_Now_In_The_Last_Innings_Of_The_End_Game.html
The Western world is still faced with increasing debt. The mainstream media has been focused on the fact that there was a very small decline in the budget deficit, but if you look back in history it took the United States 192 years to rack-up $1 trillion of debt. Then, the next $1 trillion of debt took only 30 years. Astonishingly, now we are going through $1 trillion each year.
Right now China has somewhere on the order of $1.2 trillion, and has been diversifying away from those dollar reserves into everything from skyscrapers, to companies, to gold. The Chinese will continue to do that, but, meanwhile, because of the slowdown of international investors buying dollars, ironically the Fed has had to print dollars in order to buy dollars (laughter ensues). That, too, is unsustainable.
Saturday, November 2, 2013
Friday, October 25, 2013
Thursday, October 24, 2013
World Just Witnessed A Stunning Watershed Moment In History
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/23_World_Just_Witnessed_A_Stunning_Watershed_Moment_In_History.html
“Well, I think the Fed needs to do whatever is necessary to help meet our dual mandate objections. I don’t really think about it as far as limits are concerned because I think there is a tremendous amount of capacity. We can go as long as necessary.”
Here Is The Shocking Reason Why Gold Is Soaring Today
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/22_Here_Is_The_Shocking_Reason_Why_Gold_Is_Soaring_Today.html
...the West is literally running out of physical gold.
We Are Looking At A Frightening End Game
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/21_We_Are_Looking_At_A_Frightening_End_Game.html
The reality here is that once a nation or nations go past a certain point, there is no turning back. You have to either destroy the debt structure, which is a hard-debt deflation, or you destroy the currency by printing more and more until you see a hyperinflationary collapse. There will be no other possible outcome to this scenario other than the horror of what I just described to you. Regardless, one way or another we are looking at a frightening end to all of this.”
Fed likely to delay taper after disappointing US jobs data
Fed will delaying tapering of QE. Really? I'm shocked. (sarcasm intended)
http://www.telegraph.co.uk/finance/economics/10396946/Fed-likely-to-delay-taper-after-disappointing-US-jobs-data.html
http://www.telegraph.co.uk/finance/economics/10396946/Fed-likely-to-delay-taper-after-disappointing-US-jobs-data.html
Australia Raises Debt-Ceiling to A$500bn to Avoid US-Like Crisis
Even Australia is joining the debt party.
http://www.ibtimes.co.uk/articles/516139/20131023/australia-debt-ceiling-shutdown-joe-hockey.htm
http://www.ibtimes.co.uk/articles/516139/20131023/australia-debt-ceiling-shutdown-joe-hockey.htm
Tuesday, October 22, 2013
The one real reason Bitcoin isn't a serious alternative currency
I like the tone of this article, but disagree with the overall premise. I do believe Bitcoin is a legitimate currency--even if it brings high volatility to the table. See my take on Bitcoin here.
http://www.networkworld.com/community/blog/one-real-reason-bitcoin-isnt-serious-alternative-currency
http://www.networkworld.com/community/blog/one-real-reason-bitcoin-isnt-serious-alternative-currency
Monday, October 21, 2013
Sunday, October 20, 2013
China's Largest Conglomerate Buys Building Housing JPMorgan's Gold Vault
If you can't gain access to the gold, buy the vault.
http://www.zerohedge.com/news/2013-10-18/chinas-largest-conglomerate-buys-building-houses-jpmorgans-gold-vault
http://www.zerohedge.com/news/2013-10-18/chinas-largest-conglomerate-buys-building-houses-jpmorgans-gold-vault
Saturday, October 19, 2013
Maguire Predicted Gold Surge - Now Says West Is Collapsing
This is as must-read by Andrew Maguire, London gold trader and whistleblower. Keep stacking.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/18_Maguire_Predicted_Gold_Surge_-_Now_Says_West_Is_Collapsing.html
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/18_Maguire_Predicted_Gold_Surge_-_Now_Says_West_Is_Collapsing.html
Friday, October 18, 2013
There Is No Rule Of Law In The United States Anymore
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/15_There_Is_No_Rule_Of_Law_In_The_United_States_Anymore.html
Thursday, October 17, 2013
Tuesday, October 15, 2013
Monday, October 14, 2013
Everyone The U.S. Government Owes Money To, In One Graph
Notice how the US government owes money to many different US Treasury bond holders? Including itself? That folks, is why this is nothing else but a Ponzi scheme.
http://www.npr.org/blogs/money/2013/10/10/230944425/everyone-the-u-s-government-owes-money-to-in-one-graph
http://www.npr.org/blogs/money/2013/10/10/230944425/everyone-the-u-s-government-owes-money-to-in-one-graph
How Much Longer Will the Dollar be the Reserve Currency?
The answer to this question will be the single most important determinant on investor outcomes over the next decade.
http://mises.org/daily/6556/How-Much-Longer-Will-the-Dollar-be-the-Reserve-Currency
http://mises.org/daily/6556/How-Much-Longer-Will-the-Dollar-be-the-Reserve-Currency
Sunday, October 13, 2013
Friday, October 11, 2013
Moscow Exchange Plans Gold to Silver Trading to Broaden Appeal
Russia is following in the steps of China in setting up exchanges for delivery of physical precious metals. This is one more arrow in the USDollar as the global reserve currency, as Russia and China aim to back their respective currencies with gold.
Those who fail to anticipate this eventuality will experience cataclysmic losses.
http://www.bloomberg.com/news/2013-10-10/moscow-exchange-plans-gold-to-silver-trading-to-broaden-appeal.html
Those who fail to anticipate this eventuality will experience cataclysmic losses.
http://www.bloomberg.com/news/2013-10-10/moscow-exchange-plans-gold-to-silver-trading-to-broaden-appeal.html
Commodity Prices Wrong as Often as 27% of Time for Traders
http://www.bloomberg.com/news/2013-10-08/commodity-prices-wrong-as-often-as-27-of-the-time-for-traders.html
Libor and ISDAfix are part of a suite of financial benchmarks that underpin about $1 quadrillion of assets and trades, almost 14 times global economic output in 2012.I wasn't kidding when I pointed out that the notional value of financial derivatives was over $1.2 quadrillion. ISDA represents $400 trillion of interest rate swaps. If bond yields rise appreciably, those derivatives would blow up the global financial system.
Thursday, October 10, 2013
Wednesday, October 9, 2013
Paging Dr. Crane
This is a must-read for those wishing to avoid the Wall Street head fake.
http://www.tfmetalsreport.com/blog/5131/paging-dr-crane
http://www.tfmetalsreport.com/blog/5131/paging-dr-crane
Starved of gold, Indians may import record volumes of silver
http://www.reuters.com/article/2013/10/08/us-india-silver-idUSBRE99711G20131008
Monday, October 7, 2013
Systems are Breaking in Treasury Bond Market-Dr. Jim Willie
“I don’t think the Fed is going to taper its bond buying. I believe they are going to double it. The Fed will say let’s continue QE, and instead of suffocation from rising rates, we’ll have drowning from rising costs. . . . They are going for drowning because it’s slower.” - Dr. Jim Willie
Russia to Grab Pension Money, Temporarily
Russia deploys bail-in and plunders pensions.
http://blogs.wsj.com/emergingeurope/2013/10/03/russia-to-grab-pension-money-temporarily/
http://blogs.wsj.com/emergingeurope/2013/10/03/russia-to-grab-pension-money-temporarily/
The Fed Is Going To Shock The World By Increasing QE
I agree with Pento that the Fed will be "forced" to increase QE. The only question is "when?" Will the Fed increase QE after dramatic losses in capital markets, in another desperate attempt to prop up equities? Or will they just increase QE to preempt distorted markets from a corrective recalibration?
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/5_The_Fed_Is_Going_To_Shock_The_World_By_Increasing_QE.html
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/5_The_Fed_Is_Going_To_Shock_The_World_By_Increasing_QE.html
I Am A Terrified Observer As I Watch The End Game Unfolding
Eric King: “How bad will this be when the West finally hits the wall?”
Rule: “I don’t know, and I don’t know when it will come. The US can renege on a whole bunch of social promises. What scares me is that the dialogue isn’t even dealing with the harsh reality the US faces in the future if radical changes are not made immediately."
All I hear is from the US officials is, ‘We can’t taper, the economy is too weak,’ and, ‘We can’t shut down the government because government provides all of these essential services.’ But the coming austerity will be very unpleasant to go through, and people are going to eventually recognize QE for what it is, which is counterfeiting.
The problem with all of the promises the politicians have made is that they are all lies. I have advocated that people own gold and silver because at the fulcrum point of this deception on the part of the government is the currency. You can’t have unsecured obligations on top of unsecured obligations. And the medium for exchange of lies is fiat currency.
The idea that the gradual unraveling of these lies will result in the depreciation of fiat currencies, and the dramatic revaluation of precious metals to the upside, seems to me to be an extremely likely outcome. I am a terrified observer as I watch the end game drawing to a close. But I will tell you that I feel more comfortable and sleep better owning gold and silver, rather than having all of my savings in fiat currencies, which are the unsecured obligations of bankrupt, or soon to be bankrupt borrowers."
David Stockman - This Financial Collapse Will Be Catastrophic
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/4_David_Stockman_-_This_Financial_Collapse_Will_Be_Catastrophic.html
Eric King: “How frightening will that period of chaos you just described be for investors?”Stockman: “There is every reason to believe that it will be outside the range of prior experience. Once it is clear that the Fed is out of ammunition, I think it’s going to cause an even greater wave of panic than we had last time (in 2008). I think it’s a ship of fools (the Fed). They have enormous power over the entire financial system, not only domestically, but over the entire global system. It tells you why this doctrine of monetary central planning is so destructive and dangerous. No twelve people should be in a position to unleash this kind of turmoil.”Eric King: “In the 1970s we saw the 25-fold move in gold, before you guys (Stockman, Volcker & Dr. Roberts) rescued the system. But this time around we’ve already seen gold up almost 800% (at the peak in 2011). It almost sounds like gold could repeat or even outperform what we saw in the 1970s as this chaos really starts to unfold.”Stockman: “The upside for gold is unfathomable. If the monetary system really unwinds because the central banks take it to the edge, and over, there’s no telling how far gold could rise.”
Sunday, October 6, 2013
Saturday, October 5, 2013
Friday, October 4, 2013
Thursday, October 3, 2013
Banca d'Italia says gold reserves key to cenbank independence
Wow, a central banker dispensing some truth serum while still in office.
http://www.reuters.com/article/2013/09/30/lbma-central-banks-idUSL6N0HQ16A20130930
http://www.reuters.com/article/2013/09/30/lbma-central-banks-idUSL6N0HQ16A20130930
In a keynote address to the London Bullion Market Association's annual conference, Salvatore Rossi, director general of the Italian central bank, told delegates that gold plays a special role in central banks' official reserves.
"Not only does it have the vital characteristic of allowing diversification, in particular when financial markets are highly integrated, in addition it is unique among assets in that it is not issued by any government or central bank, so its value cannot be influenced by political decisions or by the solvency of any institution," he said.
"These features, coupled with historic ... and psychological reasons, stand in favour of gold's importance as a component of central bank reserves," he said. "Gold underpins the independence of central banks in their ability to (act) as the ultimate bearer of domestic financial stability."
Fighting for a fair game in the gold market
This is a must-view video on the surreptitious price suppression of precious metals. Notice the interview with GATA's Chris Powell was done on CNBC Hong Kong and not on CNBC Europe or CNBC in the United States. That is not coincidental.
http://video.cnbc.com/gallery/?video=3000204388
http://video.cnbc.com/gallery/?video=3000204388
Wednesday, October 2, 2013
Man Who Predicted Gold Takedown Tells Investors What’s Next
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/2_Man_Who_Predicted_Gold_Takedown_Tells_Investors_Whats_Next.html
When you combine this with extremely robust and sustained demand from China, India and other places, it will soon halt this effort to push the phony paper price lower. At that point investors will need to go to full allocations in physical metal.I think people like us, Eric, who are already pretty fully invested in physical gold should just relax. Understand that what’s going on here is orchestrated and that it can’t be sustained. KWN readers have to understand that when the US Dollar Index briefly broke below the critical psychological level of 80 on Tuesday, that is precisely when the massive intervention in the gold market began. But, again, this type of intervention cannot be sustained for very long.So as long as you’re not invested on leverage, and I’ve never encouraged your readers or listeners to use any leverage in their positioning in gold, you will be fine. As long as this is money that investors have put aside for long-term investment purposes, which is what I’ve always encouraged, they are going to be well positioned. The sociopaths that are gaming these markets are rapidly running out of ammunition. As gold eventually bottoms and finally begins to turn, you are going to see one of the most spectacular rises in the history of any market.
Monday, September 30, 2013
Sunday, September 29, 2013
Costs of Investing in Mutual Funds
Mutual fund costs:
http://personalfinance.byu.edu/?q=node/817
Hidden costs:
http://personalfinance.byu.edu/?q=node/818
http://personalfinance.byu.edu/?q=node/817
Hidden costs:
http://personalfinance.byu.edu/?q=node/818
Poker End Game - JP Morgan, Fed, US Treasury, China & Gold
While this piece speculates about a conspiracy wrapped inside a conspiracy, I've always had my suspicions on who the price suppressors of gold and silver are. The usual suspects are easy targets: the Fed and other central planners want lower precious metals prices to mask their massive counterfeiting schemes globally.
But the Chinese have motives too: they are accumulating gold in exchange for US Treasury bonds because they understand the USDollar will lose its reserve currency status soon, and the Chinese want the yen to have a seat at the global reserve currency table. With gold-backing, the yuan strengthens its case substantially--as will the Russian ruble.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/30_Poker_End_Game_-_JP_Morgan%2C_Fed%2C_US_Treasury%2C_China_%26_Gold.html
But the Chinese have motives too: they are accumulating gold in exchange for US Treasury bonds because they understand the USDollar will lose its reserve currency status soon, and the Chinese want the yen to have a seat at the global reserve currency table. With gold-backing, the yuan strengthens its case substantially--as will the Russian ruble.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/30_Poker_End_Game_-_JP_Morgan%2C_Fed%2C_US_Treasury%2C_China_%26_Gold.html
Saturday, September 28, 2013
If all else fails, Obama will raise debt ceiling himself: analyst
The nation's debt ceiling will be raised: the only questions are how, when, and by whom. In the end, it won't matter: it merely signals the insolvency of this country anyway, and we are too far down the rabbit hole of debt hell to reverse course.
The US will continue to pile on debt--until buyers are exhausted, which they've already shown an inclination for. The Fed is now the buyer of last resort, and when they are the ONLY buyer of US Treasury debt, the end game of bankruptcy will reach our shores.
The USDollar itself is on death's doorsteps. Hello, $1000 loaves of bread and $1000/gallon of fuel.
http://blogs.marketwatch.com/capitolreport/2013/09/25/if-all-else-fails-obama-will-raise-debt-ceiling-himself-analyst/
The US will continue to pile on debt--until buyers are exhausted, which they've already shown an inclination for. The Fed is now the buyer of last resort, and when they are the ONLY buyer of US Treasury debt, the end game of bankruptcy will reach our shores.
The USDollar itself is on death's doorsteps. Hello, $1000 loaves of bread and $1000/gallon of fuel.
http://blogs.marketwatch.com/capitolreport/2013/09/25/if-all-else-fails-obama-will-raise-debt-ceiling-himself-analyst/
Looting the Pension Funds
http://www.rollingstone.com/politics/news/looting-the-pension-funds-20130926
So when you invest your pension money in hedge funds, you might be paying a hundred times the cost or more, you might be underperforming the market, you may be supporting political movements against you, and you often have to pay what effectively is a bribe just for the privilege of hiring your crappy overpaid money manager in the first place. What's not to like about that? Who could complain?
But the idea that these benefit packages are causing the fiscal crises in our states is almost entirely a fabrication crafted by the very people who actually caused the problem. It's like Voltaire's maxim about noses having evolved to fit spectacles, so therefore we wear spectacles. In this case, we have an unfunded-pension-liability problem because we've been ripping retirees off for decades – but the solution being offered is to rip them off even more.
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