- Jim Rogers Cautions “Be Prepared, Be Worried, And Be Careful… This Is Going To End Badly” (ZeroHedge, Dec 4, 2013):
“Eventually, the whole world is going to collapse,” Jim Rogers chides a disquieted CBC anchor as he explains the reality that, “we in the West have staggering debts. The United States is the largest debtor nation in the history of the world,” adding that “this is going to end badly.”
- The Complete And Unabridged History Of Gold Manipulation (ZeroHedge, Dec 4, 2013):
On November 1st, 1961, an agreement was reached between the central banks of the United States and seven European countries to cooperate in achieving a shared, and very clearly stated, aim.
The agreement became known as the London Gold Pool, and it had a very explicit purpose: to keep the price of gold suppressed “under control” and pegged regulated at $35/oz. through interventions in the London gold market whenever the price got to be a little… frisky.
The construct was a simple one.
The eight central banks would all chip in an amount of gold to the initial “kitty.” Then they would sell enough of the pooled gold to cap any price rises and then replace that which they had been forced to sell on any subsequent weakness.
*Statement is subject to standard terms and conditions and is not necessarily reflective of any evidence. Government entities are excluded from inclusion based on the fact that we can’t really do anything about them and anyway; they could put us out of business; and it would make things really, really bad for them. Also, bullion banks are not covered under this statement because we were told to turn a blind eye; but individual investors are, and we can categorically confirm that, to the best of our knowledge, no individuals are manipulating the precious metals markets (at this time).
But, as Grant Williams explains in this excellent and complete summary of the history of Gold price manipulation, things don’t always go as planned… Continue reading »
- Too Big To Fail Banks Are Taking Over As Number Of U.S. Banks Falls To All-Time Record Low (Economic Collapse, Dec 3, 2013)
- Top 10 Highest Paid CEOs (TIME, Dec 4, 2013):
10. Gerald Rubin
Company: Helen of Troy
Compensation: $41.6 million
Helen of Troy, which distributes name brands like Brut and Pert Plus, posted record sales in its fiscal year ending in February 2013, helping its CEO Gerald Rubin take home nearly $29 million in performance-based stock options. Of the country’s most lavishly paid CEOs, according to data compiled by FindTheCompany.com, none are are women. Continue reading »
- Federal Government Sued Raisin Farmer For Selling His Own Product (Wealthy Debate, Dec 4, 2013):
Meet Marvin Horne, raisin farmer. Horne has been farming raisins on a vineyard in Kerman, Calif., for decades.But a couple of years ago, he did something that made a lot of the other raisin farmers out here in California really angry. So angry that they hired a private investigator to spy on Horne and his wife, Laura. Agents from a detective agency spent hours sitting outside the Hornes’ farm recording video of trucks entering and leaving the property.
What did the Hornes do to become the subject of a surveillance campaign? They sold raisins. More specifically, they sold all the raisins they produced.
From the article:
“… Mumbai customs offers a reward of up to 50,000 rupees per kg of bullion seized for informers in gold smuggling cases. Cocaine and heroin informers get only up to 40,000 rupees and 20,000 rupees respectively.“
- Gold Smuggling Increases 7x in India and Surpasses Illegal Drug Trade (Liberty Blitzkrieg, Dec 4, 2013):
The absurd “War on Gold” that India has launched this year has been covered many times on this site. From the moment I read about it, it was obvious that if Indians want their gold, the Indians will have their gold. You can’t break thousands of years of tradition and culture because of the ignorant whims of a few bureaucrats.
Earlier today, Reuters published an article detailing the extent to which Indian smugglers will go in order to bring the money of kings into the country. This includes hiding it in underwear, swallowing it whole and even painting gold staples gray. What is most disturbing is the lengths authorities are willing to go to in order to stop a supposedly free people from buying a brick of metal.
(Reuters) – Indian gold smugglers are adopting the methods of drug couriers to sidestep a government crackdown on imports of the precious metal, stashing gold in imported vehicles and even using mules who swallow nuggets to try to get them past airport security.
- Food poverty in UK has reached level of ‘public health emergency’, warn experts (Independent, Dec4, 2013):
Hunger in Britain has reached the level of a “public health emergency” and the Government may be covering up the extent to which austerity and welfare cuts are adding to the problem, leading experts have said.
In a letter to the British Medical Journal, a group of doctors and senior academics from the Medical Research Council and two leading universities said that the effect of Government policies on vulnerable people’s ability to afford food needed to be “urgently” monitored.