Nov 22

Obamas Historic Immigration Decree

- Obama the tyrant king unleashes dictatorial order that will now invoke “open rebellion” – Senate aide:

With the stroke of a pen, President Obama has now set America on the path toward open rebellion and revolt. By declaring that he alone has the right to dictate immigration policy without the legislative approval of Congress, he has committed yet another lawless act in a long series of illegal schemes that cement his position in history as nothing more than a sociopathic liar and destroyer of nations.

me-the-people-obama
Source: Artizans.com

- Obama extends deportation reprieve to 5 million undocumented immigrants:

President Barack Obama announced an executive order on immigration reform Thursday, which he will sign on Friday. The actions will affect up to 5 million undocumented immigrants in the US, many of whom are the parents or spouses of legal residents.

Obama announced his plan for unilateral action on immigration via a prime-time address from the White House. He will sign the executive order during a rally in Las Vegas on Friday. Because the plan will not be passed by Congress, it could also be easily reversed by a new president after Obama’s term runs out in just over two years.

The-Obamas-left-hand

“Accidental discharge”…:

Sure!

The FBI Is Very Excited About This Machine That Can Scan Your DNA in 90 Minutes

- The FBI Is Very Excited About This Machine That Can Scan Your DNA in 90 Minutes:

Rapid-DNA technology makes it easier than ever to grab and store your genetic profile. G-men, cops, and Homeland Security can’t wait to see it everywhere.

obama-fraud

- Least Transparent Ever – Obama Administration Fighting to Prevent Release of C.I.A. Torture Report:

His latest intervention on behalf of the forces of opacity, revolves around the release of a report on CI.A. torture put together by The Senate Intelligence Committee, which is 6,000 pages long and has been five years in the making. Naturally, the Obama Administration is taking painstaking efforts to block its release.

- Gold Repatriation Stunner: Dutch Central Bank Secretly Withdrew 122 Tons Of Gold From The New York Fed:

A week ago, we penned “The Real Reason Why Germany Halted Its Gold Repatriation From The NY Fed“, in which we got, for the first time ever, an admission by an official source, namely the bank that knows everything that takes place in Germany – Deutsche Bank – what the real reason was for Germany’s gold repatriation halt after obtaining a meager 5 tons from the NY Fed:

… the gold community paid great attention to the decision of the German Bundesbank to “bring German gold home”. At the beginning of 2013, the Bundesbank announced it would repatriate 300 tonnes of gold stored in the US by 2020. It is well behind schedule, citing logistical difficulties. Yet diplomatic difficulties are more likely to be the chief cause of the delay, especially seeing as the Bundesbank has proven its capacity to organise large-scale gold transports. In the early 2000s, the Bundesbank incrementally repatriated 930 tonnes of German gold held by the Bank of England.

Some took offense with this, pointing out, accurately, that the gold held at the NY Fed in deposit form for foreign institutions had continued to decline into 2014 despite the alleged German halt. Well, today we know the answer: it wasn’t Germany who was secretly withdrawing gold from the NYFed contrary to what it had publicly disclosed.  

It was the Netherlands.

jpm
Rothschild agent

- “Gold Is Money And Nothing Else” – JP Morgan’s Full December 1912 Testimony To Congress:

In December 1912, no lessor man than J.P.Morgan testified to Congress to “justify Wall Street,” during investigations over alleged manipulation and collusion. The transcript reads like it could have been given yesterday (as nothing ever changes) but at its heart the banker laid out 33 “Morgan Epigrams” which appear – in the ensuing 102 years – have been lost to greed and arrogance… The irony is wondrous: “Securities do not always prove good”, “Money is gold, and nothing else”, “I think manipulation is always bad.”

roundup-the-ultimate-killing-machine

- 12 Charts Show Connection Between Roundup and Disease:

Roundup is found in 75% of air and water samples.  Many farmers drench crops with Roundup right before harvest. About 100 million pounds are applied to U.S. farms and lawns every year, according to the EPA.

Monsanto claims that Roundup is totally safe, and can be dumped on everything without problem.

Is it true?

In reality, Roundup is linked to a number of diseases. And the ingredients in Roundup are deadly to human cells.

A study from the Journal of Organic Systems includes the following 12 charts which show the correlation between Roundup (technically known as “glyphosate”) and disease:

- CIA wants to delete thousands of emails as Obama administration stalls release of torture report:

The CIA wants to erase tens of thousands of internal emails sent by most covert and counterterror officers after they leave the agency, leading US senators and transparency advocates to fear the plan would mean the loss of vital government records.

- 10 Examples Of The Social Decay That Is Eating Away At America Like Cancer:

It isn’t just our economy that is crumbling.  Something is happening to America that no amount of money will be able to fix.  Everywhere around us we can see evidence of the social decay that is systematically eating away at the foundations of our society.

- Wall Street Stunned As Iceland Dares To Jail Banker Involved In 2008 Crash:

The impossible is possible. Never say never. Wall Street bankers are staring agog at headlines coming from Europe where, in Iceland, the former chief executive of one of the largest banks in the country which was involved in crashing the economy in 2008 has been sentenced to jail time. As Valuewalk reports, in receiving a one year prison sentence, Sigurjon Arnason officially became the first bank executive to be convicted of manipulating the bank’s stock price and deceiving investors, creditors and the authorities between Sept. 29 and Oct. 3, 2008, as the bank’s fortunes unwound, crashing the economy with it. It appears he was as shocked by the verdict as Wall Street-ers are, “this sentence is a big surprise to me as I did nothing wrong.” It was likely all for the people’s own good…

- Europe’s New Scariest Chart:

Recent polls show pro-default parties growing popular in peripheral euro-area countries such as Greece, Italy and Spain. As Bloomberg Brief’s Maxime Sbaihi notes, in a depressed economic environment, their promises to restructure public debt might soon bring them to power and tempt traditional parties to adopt their ideas. This return of political risk in the euro area doesn’t appear to be priced in by market participants. As Italy’s Beppe Grillo recently exclaimed, “we will leave the Euro and bring down this system of bankers, of scum.”

20141120_poll

FYI:

- ‘AIDS, Ebola, Obama – Thanks Africa’ roadside sign causes a stir in Nebraska:

A homemade sign proclaiming “AIDS, Ebola, Obama – Thanks Africa” caused a commotion in the town of Minden, Nebraska this week after a local man drew the ire of area residents when he erected it on his own property.

A “little” late:

- Charles Schwab Urges The Fed To Raise Interest Rates “As Quickly As Possible”:

Authored by Charles Schwab (yes, that Charles Schwab), originally posted op-ed at The Wall Street Journal,

For America’s 44 million senior citizens, plus tens of millions of others who are on the threshold of retirement, last month marked a watershed moment that is worth celebrating. At the end of October, the Federal Reserve announced the first step in returning to a more normal monetary policy. After nearly six years of near-zero interest rates and quantitative easing, the Fed is ending its bond-buying program and has signaled a plan to eventually begin raising the federal-funds rate, raising interest rates to more normal levels by 2017.

U.S. households lost billions in interest income during the Fed’s near-zero interest rate experiment.

- Jerusalem mayor: Revoke citizenship for terrorists’ families:

The mayor of Jerusalem has called on Israeli authorities to revoke the citizenship of family members of terrorists. This proposal was made in response to growing tensions between Palestinians and Israelis.

- 40,000 to 60,000 tons of sulphur dioxide spewing out of Bárðarbunga volcano per DAY:

A few days ago I posted an article saying that Iceland’s Bardarbunga volcano was pumping out 35,000 tons of sulphur dioxide per day, more than twice the amount spewed from all of Europe’s smokestacks.

Turns out that it’s even worse than that.

According to the Icelandic National Broadcasting Service, RUV, some 40,000 to 60,000 tons […]

- TV: US nuclear workers’ brains eaten away, hallucinating, mental capacity of preschooler — Wife films frightened, trembling husband on deathbed — It’s indescribable what they’ve done and they don’t care — They want you to die — Gov’t Experts: It’s allergies from cats or feathers… or B-12 deficiency — Doctor: Quit helping workers get help (VIDEO):

KING 5 News, Oct 14, 2014: Gary Sall… [worked at Hanford] for 28 years… 10 years ago… his brain function got worse and worse. Within 5 years he… could barely speak, hallucinated, and operated on the level of a 4-year-old… Doctors diagnosed him with work-related toxic encephalopathy, a degenerative brain disorder… [His wife] Barb documented the suffering in a difficult to watch video taken in 2011… in a hospital bed, trembling and frightened and on a feeding tube… The DOE’s insurer wrote that not Hanford, but alcohol consumption or a B-12 deficiency could be making him sick… He died 3 years ago at the age of 57.

- Twice as much Fukushima radiation near California coast than originally reported; Highest levels found anywhere in Eastern Pacific — Scientist: Very little we can do… It’s unprecedented… God forbid anything else happens — Gundersen: Multiple plumes now along west coast… Will be coming “for century or more” (AUDIO)

- Ice forces earliest closure EVER of upper Mississippi:

Halts shipments of corn, soybeans, wheat, fertilizer, salt and other goods from the most northern reaches of the nation’s busiest waterway.

- New York State officials – Things will only get worse:

Another three feet (1 meter) of snow forecast for Buffalo.

- Buffalo – 30 major roof collapses, 100 minor collapses:

More collapses expected. Homeowners and store employees scrambling to remove the snow before rainfall adds even more weight to overloaded roofs.

FYI:

- ‘We will hunt you down’: KKK threatens to shoot Anonymous ‘n***** lovers’:

A bitter war of words between hacker collective Anonymous and the Klu Klux Klan risks spilling over into real violence, with the right-wing hate group allegedly threatening to shoot dead activists wearing the Guy Fawkes mask in southern Missouri.

- Obesity price tag: $2trn annually and ‘rapidly getting worse’:

Around 30 percent of the world’s population is now obese, while 50 percent is expected to fall into the category by 2030. Meanwhile, 5 percent of global deaths each year are linked to the condition, creating a drag on the global economy.

- Stocks Close At Recordest Highs As All Central Banks Go All In:

Despite the knee-trembling awesomeness of a double-whammy promise of liquidity, US equity markets ended the week on a decidedly down note. The realization that Draghi’s all talk (no impact on US stocks) and PBOC’s move is not a liquidity surge and has limited impact on the economy left stocks tumbling once the opening OPEX levels had printed. The USD rose notably on the day after EUR plunged under 1.24 on Draghi (USD +0.9% on the week). Despite USD strength, gold rose 1% (as did Silver) on the week, rising for the 3rd week in a row for the first time in 4 months (and the 3rd Friday surge in a row). Oil rose 1% on the week, breaking an 8-week losing streak but Copper prices fell around 0.3% on the week, having given back the kneejerk gains post-PBOC today. Treasury yields dropped after kneejerking higher on PBOC. 30Y at 3.01% had its 2nd lowest weekly close since May 2013. VIX melted down into the close to 13.01. Late-day buying panic lifts stocks off their lows leaving Dow & S&P at all-time recordest highs of all-time ever in history (as small caps closed red).

- NO ONE TOLD YOU WHEN TO RUN, YOU MISSED THE STARTING GUN:

I stumbled across two mind blowing charts yesterday that had me pondering how generations of Americans had frittered their lives away, spending money they didn’t have  on things they didn’t need, utilizing easy to acquire debt, and saving virtually nothing for their futures or a rainy day. We are a nation of Peter Pans who never grew up. While I was driving home from work, one of my favorite Pink Floyd tunes came on the radio and the lyrics to Time seemed to fit perfectly with the charts I had just discovered.

- HFT War Stories: The Algo that Couldn’t Count:

This is the first in MKTSTK’sHFT War Stories series. Submitted anonymously by a high frequency trader. Names of people, places, and products have been omitted:

Algo trading has a way of making your hair turn white. Sometimes it’s the wild market action. The response then is to cut risk and keep on trading. The big losses come from avoidable human errors. Those are the losses you might not come back from.

The trading world is increasingly automated. Every year there are fewer human eyes watching the market at any given time. Traders employ algorithms to cut latency and market impact. Dealers find automation indispensable in quoting thousands of different exchange traded derivatives.

- Russia Can Survive An Oil Price War:

After a frosty reception at the G20 summit in Australia this week, Russian President Vladimir Putin required some much needed rest, at least according to the official explanation given for his conspicuously early departure from the proceedings. All things considered it could have been a lot worse. Russia finds itself in familiar territory after a controversial half-year, highlighted by the bloody and still unresolved situation in Ukraine. Nonetheless, the prospect of further sanctions looms low and Russia’s stores of oil and gas remain high.

- Did The Tech Bubble Just Quietly Pop?:

While some might scoff at the idea of there even being a bubble in hi-tech start-ups, it appears the massive wall of money that has been thrown at dot-com 2.0 names – all money-losing, social, mobile, cloud name-droppers – has dried up. As The TechCrunch Bubble Index shows, the last 90 days have seen startup-funding announcements collapse over 40% to their lowest level in almost 3 years

 – Gold Tops $1200 As China Cuts, Draghi Jawbones:

First Mario Draghi made some strong statements speaking in Asia that “It is essential to bring back inflation to target and without delay,” which sent EURUSD tumbling BUT did not spark moves in the S&P 500 (though Gold slipped). It was not until the PBOC cut rates (and sent AUD surging) that the US equity market perked up and started ripping… along with gold and as the morning progressed, gold has kept going as it is clear the Central Banks of the world have only one policy left… (no wonder the Dutch want their gold back)

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Nov 19

Due to a lot of work that needs to be done & upcoming events (incl. visitors) I’ll be presenting the news to you in the following way up until around Dec. 4.

This way you’ll still get fully updated, whilst I save many, many, many hours of work on the website.


U.S. Foreign Policy
America-Endless-War
Source: Cagle Post

- Ukraine Admits Its Gold Is Gone: “There Is Almost No Gold Left In The Central Bank Vault”:

Back in March we reported of a strange incident that took place just after the Ukraine presidential coup, namely that according to at least one source, “in a mysterious operation under the cover of night, Ukraine’s gold reserves were promptly loaded onboard an unmarked plane, which subsequently took the gold to the US.”  Needless to say there was no official confirmation of any of this taking place, and in fact our report, in which we mused if the “price of Ukraine’s liberation” was the handover of its gold to the Fed at a time when Germany was actively seeking to repatriate its own physical gold located at the bedrock of the NY Fed, led to the usual mainstream media mockery. Until now. In an interview on Ukraine TV, none other than the head of the Ukraine Central Bank made the stunning admission that “in the vaults of the central bank there is almost no gold left. There is a small amount of gold bullion left, but it’s just 1% of the gold reserves.”

- California Tells Court It Can’t Release Inmates Early Because It Would Lose Cheap Prison Labor:

Out of California’s years-long litigation over reducing the population of prisons deemed unconstitutionally overcrowded by the U.S. Supreme Court in 2010, another obstacle to addressing the U.S. epidemic of mass incarceration has emerged: The utility of cheap prison labor.

- Grubergate For Idiots (Such As American Voters): All You Need To Know In 2 Minutes:

Confused at just what Jonathan Gruber, friend (or not friend) of President Obama and Nancy Pelosi, said (and didn’t say)? Here is the two-minute idiot’s guide to the Obamacare architect (or not Obamacare architect)‘s controversial comments (and just who did and did not know him)…

GruberGate: “Senator” Obama Vs “President” Obama (Videos):

If you like your Jon Gruber “brightest minds from academia, that I have stolen ideas from liberally”, you can keep your Jon Gruber…

- Obama: I will send US troops to fight ISIS if they get nukes:

US President Barack Obama has, for the first time, admitted he would deploy US ground troops to Syria and Iraq to fight Islamic State – that is, if the extremist group obtained a nuclear weapon.

“If we discovered that [Islamic State] had gotten possession of a nuclear weapon, and we had to run an operation to get it out of their hands, then, yes,” Obama told reporters at a news conference in Brisbane, Australia, on Sunday. “I would order it.”

- Putin:’US wants to subdue Russia, but no one did or ever will':

The US has no plans to humiliate Russia, but instead wants to subdue it, Russian President Vladimir Putin has said, adding that no one had ever succeeded in doing so – and never will.

Speaking at a forum of the All-Russia Peoples’ Front in Moscow on Tuesday, the Russian leader said that history was not about to change, and that no one would manage to suppress the country.

Throughout history no one has ever managed to do so toward Russia – and no one ever will,” Putin said.

H/t reader squodgy:

As a side note: It is well known that radiation makes viruses (also harmful bacteria and other parasites) become more virulent:

- West Coast Scientists: Many animals on sea floor looking sick or dead — “Everything’s dying… Dead, dead, dead, and dead” — Experts investigate what’s killing sea urchins and cucumbers in Pacific Northwest — “Seeing things never previously observed” (PHOTOS):

National Geographic, Nov 17, 2014 (emphasis added): Urchins and cucumbers seemed to have escaped the ill effects of the virus until now. But in recent weeks, reports have started to come in that they too are dying along beaches in the Pacific Northwest, Hewson said… [He and his team are] studying the urchins and sea cucumbers that are already dying to see if the same killer is responsible.

- Experts: Seemingly benign virus on West Coast causing “ecological upheaval the likes of which we’ve never seen” — Very peculiar, different from all known viruses — Mutations could be helping it spread — Something may have recently caused it to go rogue… we’ve never seen anything like this — Why now, what changed to allow outbreak? (VIDEO):

NBC News (emphasis added): Scientists may have fingered the culprit responsible for a mysterious epidemic that has killed millions of starfish… the disease was a relatively common parvovirus found in invertebrates that rose to epidemic levels due to overpopulation, a genetic mutation or other unknown environmental factors.

PBS: Scientists… said it’s a virus that’s different from all other known viruses infecting marine organisms [and] don’t yet know what sparked the seemingly benign virus to transform into the perpetrator of what’s considered the largest marine disease outbreak ever…

- Big Win! Monsanto Reports $156 Million Loss in Q4 as Farmers Abandon GM Crops:

Are you invested in Monsanto stock like Bill Gates, who owns hundreds of thousand of Monsanto shares worth about $23 million? It might be time to pull out since the company just reported over $156 million in losses for the fourth quarter.

- Even McDonald’s Rejects New GMO Potato in French Fries:

Still Plenty of Reasons NOT to Eat There

- Here We Go Again: Demand For Subprime Debt Is “Out Of Control”:

As Kyle Bass once eloquently noted, the brevity of financial memory is about two years; and nowhere is that more clear than in the explosive resurgence of demand for new subprime-mortgage-backed products. As Scotsman Guide reports, some subprime lenders are reporting strong investor appetite for the once-reviled mortgage products (for borrowers with credit scores as low as 500 and with debt-to-income (DTI) ratios as high as 50 percent). “It’s out of control; it seems like there’s 10 times the amount of demand to buy this paper as there are borrowers that want the loans,” said one lender. As Bass may have also said “proceed with caution.”

- Approx. 100 t of sardines washed ashore in Pacific coastal area of Hokkaido again – Photos

- A Letter from the Norwegian Nobel Committee to Barack Obama:

You are the most undeserving Nobel Peace Prize winner since the odious, war-mongering Henry Kissinger. What company you keep! We were delusional dupes for giving the Peace Prize to him and you both. That is all. Now, back to “Lilyhammer.”

The Norwegian Nobel Committee
Drammensveien 19 NO-0255 OSLO
Norway

H/t reader squodgy:

“Here is one tale of how the Reypothecation might have taken place.

Of course, bankers, being honest, and politicians never lying, mixed with zionist israelis could never meld into planning and executing the biggest heist ever, under the guise of a false Arab terror plot whilst killing 3000 innocent Gentiles , just Gentiles (3000 jews were told not to turn up for work on 9/11) resulting in total surveillance of all the other gentiles on the planet carried out in the main by mossad connected security companies.

Also, isn’t it pure coincidence that the security at the Fukushima plant was also under the control of a mossad connected security firm..

http://cryptome.org/eyeball/gold-vault/gold-vault-frbny.htm

Don’t miss: - http://cryptome.org/eyeball/gold-vault/gold-vault-frbny.htm:

The gold vault in the Federal Reserve Bank New York is reportedly the largest gold depository in the world. Yet compared to other major gold vaults, such as the one at Fort Knox, it appears lightly secured. There are one or two guards at the loading dock which connects to the vault. Because the building is located in a dense urban area, its walls and entrances abut sidewalks without security barriers like those at other bullion depositories. The site of the building slopes such that the topmost levels of fve basements where the vaults are located directly adjoins two streets, albeit there are reinforced concrete walls with steel face plates as well as interior alarm systems protecting the hoard. (See note below on basement levels and wall thicknesses.)

Copies of the original 1922 construction drawings of the facility, publicly available at Avery Architectural Library, Columbia University, were obtained by Cryptome. A floor plan of a vault level is provided below.

- Wholesale Inflation Heats Up Due To Jump In Car, Food Costs, New Calculation Method:

Janet Yellen will be pleased… or not. Producer Price Inflation printed hotter than expected across all its various incarnations (good news, no deflation; bad news, no deflation excuse for The Fed). Ex Food-and-Energy prices rose 1.8% YoY (4-month highs), considerably more than the 1.5% expectations but surged 0.4% MoM – the most in 16 months. PPI Final Demand rose 1.5% YoY (1.3% exp). The rise in PPI appears driven by Food prices which are up 1.0% (the most since April) and Trade PPI (+1.5%) thanks to a 26.1% jump in margins for fuels and lubricants retailing (under new calculation methods) accounted for nearly 40% of the rise in final demand.#

- Hugh Hendry: “I Believe Central Bankers Are Terrified”:

“My premise hasn’t really changed since I published my paper explaining why I had become more constructive towards risk assets this time last year. That is to say, the structural deficiency of global demand continues to radicalise the central banking community. I believe they are terrified: the system is so leveraged and vulnerable to potentially systemic price reversals that the monetary authorities find themselves beholden to long only investors and obliged to support asset prices. However, I clearly confused everyone with my choice of language. What I should have said is that investors are perhaps misconstruing rising equity prices as a traditional bull market spurred on by revenue and earnings growth, and becoming fearful of a reversal, when instead the persistent upwards drift in stock markets is more a reflection of the steady erosion of the soundness of the global monetary system and therefore the rise in stock prices is something that is likely to prevail for some time.”

- Relentless US Journalist who has Seen and Felt the Boot of Israeli Fascism is Returning to Palestine for More:

Journalist Zebula “Sha” Hebert has been “shot at, stabbed, pepper sprayed, maced, tear-gassed, tased, arrested, detained, beaten, and interrogated” while conducting his work.  He knows what repression feels like, which is why he is undertaking a highly ambitious project: in the wake of the recent US-backed Israeli assault, Hebert will return to Palestine and spend a year in Gaza.  He will conduct interviews with Gazans, publish reports, and ultimately write a book about his findings and experiences, all to help amplify the voices of a trapped refugee population being brutalized by the world’s most powerful aggressors.

Hebert conducted an interview with Robert Barsocchini for Washington’s Blog, to elucidate and spread the word about his upcoming journalistic endeavor:

- Indonesia still performs ‘virginity tests’ on female police job applicants – HRW:

Indonesia’s practice of subjecting would-be female police officers to ‘virginity tests’ is “discriminatory and a form of gender-based violence,” that has to be stopped, Human Rights Watch says.

- ‘RT will soon be banned in Germany too’: Russian FM jokes at media conference:

The Russian FM known for his impeccable diplomatic skills, brightened the mood of the media conference held in Moscow after meeting with the German foreign minister. Both diplomats chuckled at the joke that was addressed to RT.

In my opinion another test of advanced technology (that will be used in the future against the people to make them accept the NWO):

- Chelyabinsk meteor #2? Massive flash over Russia’s Urals stuns locals & scientists:

An extraordinary bright orange flash has lit up the sky in Russia’s Sverdlovsk region in the Urals. While locals captured the massive ‘blast’ on numerous cameras, both scientists and emergency services still struggle to explain the unusual event.

- Kissinger Warns “We Need A New World Order”; Ukraine Should Forget Crimea & NATO:

Former U.S. Secretary of State Henry Kissinger says in an interview with Der Spiegel that there currently is an urgent need for a new world order, but its coming into being will be long and complicated. “There is the Chinese view, the Islamic view, the Western view and, to some extent, the Russian view. And they really are not always compatible,” he warns, adding that introducing anti-Russian sanctions was a mistake. He added that Ukraine should not hope to become a member of NATO in the foreseeable future, as the alliance will never vote unanimously for the accession of Ukraine.

- Game 8 – 2014 World Chess Championship – Viswanathan Anand vs Magnus Carlsen:

Reader squodgy sent this to me:

“Spotted in Canada”

Spotted in Canada

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Nov 18

gold_bars

- ECB Says May Buy Gold, Stocks Next, Admits “Not Sure If Japan’s QE Has Worked” (ZeroHedge, Nov 17, 2014):

While it remains to be seen if a majority of the Swiss population want their central bank to purchase a whopping 1,500 tons of gold in the coming years, perhaps the most notable event for gold overnight (aside from news that while India exports fell 5% in October, gold and silver imports soared by 280% and 136% Y/Y, respectively), came from ECB Executive Board member Yves Mersch who in a speech in Frankfurt said that the ECB balance-sheet expansion is “neither an end in itself nor a fetish.” As quoted by Bloomberg, the ECB member said that  “the effect on rates that comes along with it is at best a collateral benefit.”

Nothing new here: we have discussed why unlike Japan and the US, the biggest gating factor for Europe is the presence of freely-available, unencumbered collateral that could, at least in theory, be purchased by the ECB. Which brings us to the Mersch punchline: “Theoretically the ECB could purchase other assets such as gold, shares, ETFs to fulfill its promise of adopting further unconventional measures to counter a longer period of low inflation.” Continue reading »

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Nov 17

- The Real Reason Why Germany Halted Its Gold Repatriation From The NY Fed (ZeroHedge, Nov 16, 2014):

Following the stunning announcement in January 2013 that the Bundesbank would repatriate 674 tons of gold from the NY Fed and the French Central Bank, a year later the Bundesbank followed up with a just as stunning revelation that of the 84 tons the bank was supposed to bring back home, it had managed to obtain just a paltry 37 tons, with only 5 tons originating from the NY Fed.

The reason given for this disappointing amount was as follows: Continue reading »

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Nov 16

Gold-bars

- Iran launches Middle East’s ‘biggest’ gold plant, plans to double production (RT, Nov 15, 2014):

Iran has opened a new gold processing plant, reportedly the biggest in the Middle East, hoping to double its production of precious metals. Using a unique technology, Tehran says it will now mine up to three tons of gold per year.

Iranian TV reported that the opening ceremony was attended by First Vice President Ishaq Jahangiri.

The new facility is located near one of the country’s richest mines, Zareh Shuran. It is located 35 kilometers from the city of Takaab in northwest Iran, in an area where gold, silver, and mercury are extracted.

The gold ore reserves of the Zareh Shuran mine are estimated at 20 million tons. ((…with an average karat of 5.5 gram per ton which is considered one of the most valuable known mines in the country.)) Continue reading »

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Nov 15

Switzerland’s Role in the Gold Market

- Deutsche Bank Says “Yes” Vote Has “Narrow But Clear Lead” In Swiss Gold Referendum As 1M GOFO Hits Most Negative Since 2001 (ZeroHedge, Nov 14,  2014):

As we explained over the weekend, should the Swiss gold referendum pass successfully, the price of gold will surge. It was none other than JPM who warned that the “markets under appreciate this event”, explaing that “If the referendum is passed, the Swiss National Bank (SNB) will be forced to increase reserves by around 1,500 tonnes over five years, i.e. 300 tonnes per year. This 300 tonnes per year accounts for 7.5% of annual gold demand of 4,000 tonnes per year.

Well, even as the SNB has been scrambling to make the referendum seem like a non-event, with very little chance of passing, moments ago Deutsche Bank released a piece that roundly refuted everything the Swiss Central Bank has been peddling. To wit, here is a note just out from DB’s Robin Winkler: Continue reading »

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Nov 14

- ISIS Unveils Its New Gold-Backed Currency To Remove Itself From “The Oppressors’ Money System” (ZeroHedge, Nov 13, 2014):

It appears the rumors are true. Islamic State is set to become the only ‘state’ to back its currency with gold (silver and copper) as it unveils the new coins that will be used in an attempt to solidify its makeshift caliphate. ISIS says the new currency will take the group  out of “the oppressors’ money system.”

20141113_isis

As Zaid Benjamin notes, ISIS releases details of its new currancy with golden 1 & 5 dinar, silver 1, 5, 10 dirham and copper 10 & 20 fils Continue reading »

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Nov 14

Putin-Gold

- Putin “Prepares For Economic War”, Buys Whopping 55 Tonnes Of Gold In Q3 (ZeroHedge, Nov 13, 2014):

Just as China is buying ‘cheap’ oil with both hands and feet, so Russia, according to the latest data from The World Gold Council (WGC) has been buying gold in huge size. Dwarfing the rest of the world’s buying in Q3, Russia added a stunning 55 tonnes to its reserves, as The Telegraph reports, Putin is taking advantage of lower gold prices to pack the vaults of Russia’s central bank with bullion as it prepares for the possibility of a long, drawn-out economic war with the West.

Russia bought more gold in Q3 then all other countries combined… Continue reading »

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Nov 13

Gold fixing photo


- Big Banks Busted Massively Manipulating Foreign Exchange, Precious Metals … And Every Other Market (Washington’s Blog, Nov 12, 2014):

Currency Markets Are Rigged

Currency markets are massively rigged. And see this and this.

Reuters notes today: Continue reading »

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Nov 13

ubs-bandits

- Caught Rigging FX and Gold? Your Punishment Will Be A Bonus Capped At Just 200% Of Your Base Salary (ZeroHedge, Nov 11, 2014):

There are many more details and we will break them out shortly, but cutting to the chase, here is the punishment:

FINMA has also instructed UBS to limit bonuses for traders of foreign exchange and precious metals to 200 percent of their base salary for two years.

Which means that clearly nobody is going to jail, however the punishment is far more harsh: riggers will have a bonus of ONLY 200% their base salary for two years to look forward to!

The horror, the horror.

Which naturally means that base salaries across the rigging banks are about to soar to offset the tempoyrary bonus cap to the “keep the talent” happy. After all someone has to keep on rigging markets and generate bank revenue.

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Nov 11

gold-dollar

Related info:

- Alan Greenspan’s Stunning Admission: ‘Gold Is Currency; No Fiat Currency, Including The Dollar, Can Match It’

- Alan Greenspan: QE Failed To Help The Economy, The Unwind Will Be Painful, ‘Buy Gold’


- The Council Of Foreign Relations Apologizes For The “Greenspan Glitch” (ZeroHedge, Nov 10, 2014):

Last week, we brought to the public’s attention a controversial ‘missing’ section from the official transcript of Alan Greenspan’s interview last with the Council of Foreign Relations where he dared utter his honest opinion that, Gold is a currency. It is still, by all evidence, a premier currency. No fiat currency, including the dollar, can match it.” Well, it turns out the reason for the practically heterical section’s omission was “a glitch in the live stream” and CFR has apologized and posted the full transcript. Interesting coincidence that this gold-loving, Bernanke-denying section was the only one to be hit by the ‘glitch'; we are confident it’s mere coincidence…

CFR has apologized… Continue reading »

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Nov 11

- Gold Rigging Settlement With UBS – Other Banks To Follow (GoldCore, Nov 10, 2014):

Suspicions that the price of precious metals are frequently manipulated by a few international banks were further confirmed over the weekend. UBS agreed to settle with various international regulatory bodies investigating rigging in foreign exchange and precious metals markets.

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Nov 10

… and then some.


lunar-dragon-gold

- China Aims For Official Gold Reserves At 8500 Tonnes (Bullion Star, Sep 29, 2014):

China should accumulate 8,500 tonnes in official gold reserves, more than the US, according to Song Xin, President of the China Gold Association, General Manager of the China National Gold Group Corporation and Party Secretary. He wrote this in an opinion editorial published on Sina Finance July 30, 2014. Gold is money par excellence in all circumstances and will help support the renminbi to become an international currency as “gold forms the very material basis for modern fiat currencies”, Song notes. In the short term the Chinese will not back the renminbi with gold (establish a fixed renminbi price for gold), but

The previous President of the China Gold Association (CGA), Sun Zhaoxue, was also the General Manager of the China National Gold Group Corporation, these jobs are apparently connected. Song took over from Sun as CGA President and Manager of China National Gold in February 2014. Remarkably, when Sun was in office he wrote equally candid articles (in Chinese) about the importance of gold for China’s economy. Sun’s most renowned article is titled “Building A Strong Economic And Financial Security Barrier For China”, published on August 1, 2012, in Qiushi magazine, the main academic journal of the Chinese Communist Party’s Central Committee (click here for a translated version). Continue reading »

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Nov 10

- This Is What Happens When Trying To Get To The Bottom Of The UBS Gold-Rigging Scandal (ZeroHedge, Nov 9, 2014):

As reported previously, and as had been suspected for years, the gold manipulation cartel is slowly breaking apart, and courtesy of the FT, we now know at least one individual directly implicated in Swiss gold-rigging: the former head of UBS’s gold desk in Zurich, André Flotron. So as part of our diligence, because apparently no other media will touch the topic of gold rigging until and unless it is shoved in their face on a, ahem, silver platter, because after all the subject matter is just too “conspiratorial”, we decided to ask Mr. Flotron some on the record questions, and sent him an email. This is the response we got…

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Nov 10

Singapore? Not for me.


I Wouldn’t Hold My Gold in the U.S. At All” – Faber (Goldcore, Nov 9, 2014)

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Nov 10

Federal-Reserve-Bernanke1

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. … This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”
– Alan Greenspan

By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
– John Maynard Keynes Continue reading »

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Nov 10

Switzerland’s Role in the Gold Market

- What The Swiss Gold Referendum Means For Gold Demand (ZeroHedge, Nov 9, 2014):

The referendum for the Swiss Gold Initiative is scheduled for November 30th and the propaganda war – between the Swiss National Bank (SNB) and the Swiss Parliament on one side and the Swiss People’s Party (SVP) on the other – has begun and we expect it to escalate as the day draws ever nearer. Having already questioned the ‘location, location, location’ of Switzerland’s current gold stash, and examined the initiative in great depth here, JPMorgan notes that not only might the forthcoming Swiss gold referendum stabilize gold prices at a time when Gold ETF demand continues to decline, but warns, it also appears that markets under-appreciate this event.

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Nov 08

As I’ve said many times … Physical gold and silver is the money of the TPTB.


- Greenspan’s Stunning Admission: “Gold Is Currency; No Fiat Currency, Including the Dollar, Can Match It” (ZeroHedge, Nov 7, 2014):

For some reason, the Council of Foreign Relations, where ex-Fed-Chief Alan Greenspan spoke last week, decided the following discussion should be left out of the official transcript. We can perhaps understand why… as Gillian Tett concludes, “comments like that will be turning you into a rock star amongst the gold bug community.”

Greenspan (Uncut):

TETT: Do you think that gold is currently a good investment?

GREENSPAN: Yes… Remember what we’re looking at. Gold is a currency. It is still, by all evidence, a premier currency. No fiat currency, including the dollar, can macth it.

Which is missing from the official CFR transcript…

Continue reading »

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Nov 08

- Best Day For Gold Since September 2013 (ZeroHedge, Nov 7, 2014):

Following a heavy volume flush and reversal around midnight ET, gold prices surged today. The 3.3% rally is the best day since September 2013.

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Nov 07

Physical Gold Shortage Worst In Over A Decade: GOFO Most Negative Since 2001 (ZeroHedge, Nov 6, 2014):

The last time there was an systemic physical gold shortage was in July 2013. It is then that, for the first time in 5 years, the 1-month Gold forward offered rate, or GOFO, went negative. We said:

Today, something happened that has not happened since the Lehman collapse: the 1 Month Gold Forward Offered (GOFO) rate turned negative, from 0.015% to -0.065%, for the first time in nearly 5 years, or technically since just after the Lehman bankruptcy precipitated AIG bailout in November 2011. And if one looks at the 3 Month GOFO, which also turned shockingly negative overnight from 0.05% to -0.03%, one has to go back all the way to the 1999 Washington Agreement on gold, to find the last time that particular GOFO rate was negative.

GOFO

Fast forward to today, when as noted over the past week there has been a massive shortage of precious metals – most notably silver which as of this moment is indefinitely unavailable at the US Mint - as a result of the tumble in the paper price, and following 8 days of sliding and negative 1 month GOFO rates, today the physical metal shortage surged, as can be seen by not only the first negative 6 month GOFO rate since last summer’s much publicized gold shortage when China was gobbling up every piece of shiny yellow rock available for sale, but a 1 month GOFO of -0.1850%: the most negative it has been since 2001! Continue reading »

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Nov 06

Because Nothing Says “Best Execution” Like Dumping $1.5 Billion In Gold Futures At 0030ET (Zerohedge, Nov 5, 2014):

For the 5th day in a row, “someone” has decided that 0030ET would be an appropriate time (assuming the ‘seller’ is an investor who prefers best execution rather than the standard non-economically-rational share-repurchaser in America) to be dumping large amounts of precious metals positions via the futures market. Tonight, with over 13,000 contracts being flushed through Gold – amounting to over $1.5 billion notional, gold prices tumbled $20 to $1151 (its lowest level since April 2010). Silver is well through $16 and back at Feb 2010 lows. The USDollar is also surging.

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Nov 05

Alternative-Für-Deutschland-Gold

- German Euro Sceptic Party Sells €1.6 Million of Gold Bullion In Two Weeks (Goldcore, Nov 4, 2014):

Disillusionment with Europe’s single currency continues to grow with the cracks beginning to show in it’s heartland, Germany, where the third largest political party is now selling gold coins and bars to raise funds.

In a poll in September Alternative for Germany (AfD) were found to be Germany’s third most popular party. The rise of the Alternative for Germany (AfD) party saw it receive 10.6% of the vote in Thuringia and 12.2% in Brandenburg on 14 September. Two weeks earlier it secured its first regional government seats in Saxony.

AfD are not anti-EU per se and have distanced themselves from other eurosceptic parties. They see a future for Germany in the EU and embrace common markets but wish to see the European Monetary Union (EMU) and the euro itself wound up and a return to the Deutschmark. Continue reading »

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Nov 04

- Where Is Swiss Gold? – Location, Location, Location (ZeroHedge, Nov 3, 2014):

With the Swiss gold stored at the Bank of Canada, now having been transferred out of the Bank of Canada’s Ottawa vault to an unknown location, the Swiss public would be wise to question the SNB on this move. The Swiss gold stored at the Bank of England in London seemingly being ‘actively managed’ one of the world’s largest centres for unallocated gold trading, the Swiss public would also be wise to enquire on this issue. And with significant historical quantities of Swiss gold that were stored with the US Federal Reserve Bank in New York no longer there after the SNB seemingly brought their US vaulted gold holdings to zero, the Swiss public need to question why these particular holdings were targeted for sales from 2000-2005 and not domestically held gold.

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Nov 03

- Ted Butler: The Silver Nightmare Will Be Over Soon (Peak Prosperity, Nov 1, 2014):

Halloween couldn’t have been more terrifying for silver investors. The gray metal cracked under $16/oz on Friday, a price not seen for nearly half a decade.

For years now, it has seemed like silver has been beaten down so badly its price couldn’t go lower. But then it has.

Why has silver seen such a gut-wrenching price decline? (now down 2/3 compared to its high in late 2011). And will it ever see brighter days again?

This weekend, Chris has a long discussion with silver expert Ted Butler on the real culprit behind the wild price slams that have plagued silver: unfairly concentrated positions within the derivatives market: Continue reading »

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Oct 30

alan-greenspan

- Alan Greenspan: QE Failed To Help The Economy, The Unwind Will Be Painful, “Buy Gold” (ZeroHedge, Oct 29, 2014):

It appears it is time for some Hillary-Clinton-esque backtracking and Liesman-esque translation of just what the former Federal Reserve Chief really meant. As The Wall Street Journal reports, the Fed chief from 1987 to 2006 says the Fed’s bond-buying program fell short of its goals, and had a lot more to add.

Mr. Greenspan’s comments to the Council on Foreign Relations came as Fed officials were meeting in Washington, D.C., and expected to announce within hours an end to the bond purchases.

He said the bond-buying program was ultimately a mixed bag. He said that the purchases of Treasury and mortgage-backed securities did help lift asset prices and lower borrowing costs. But it didn’t do much for the real economy.

“Effective demand is dead in the water” and the effort to boost it via bond buying “has not worked,” said Mr. Greenspan. Boosting asset prices, however, has been “a terrific success.” Continue reading »

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Oct 30

- Things That Make You Go Hmmm… (Mauldin Economics, Oct 27, 2014):

About 18 months ago, I had a very pleasant chat with a gentleman by the name of Luzi Stamm.

You may detect some measure of surprise in my words, and the reason for that is quite simple: Luzi Stamm is a politician; and, as regular readers will know, I am no fan of that particular class.

But Herr Stamm was different.

An MP representing the Swiss People’s Party, Stamm was spearheading a federal popular initiative which needed 100,000 signatures in order to comply with the Swiss parliamentary system’s rigid framework regarding referendums. (OK all you “referenda” people out there, I know, OK? But I’m going with “referendums,” so pipe down). Continue reading »

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Oct 29

- Fireworks Fly As Peter Schiff Warns “An Economy That Lives By QE, Dies By QE” (ZeroHedge, Oct 28, 2014):

Ahead of tomorrow’s decision by the FOMC, Peter Schiff ventured on to CNBC to discuss the economy, the fed, and gold… among other things. Schiff rightly fears that while the Fed may well stop QE3 tomorrow, QE4 will not be too long behind it as he notes, rather eloquently, that “an economy that lives by QE, will die by QE” as the Fed’s total lack of willingness to allow stocks to fall (see Bullard 2 weeks ago) or a ‘cleansing’ recession leaves the nation’s economy in far worse shape than it was before the Fed’s intervention. Schiff calmly replies to the anchor’s questions (as she proclaims “I am not on the side of the Fed but…”), gently explains his view on gold when challenged about his ‘wrongness’, but when a guest starts hounding him for being dangerous to CNBC viewers wealth… Schiff (rightly) loses it – must watch!

A well reasoned discussion of the Fed’s manipulation of markets and mal-investment hangovers is well worth the price of admission… but at around 6:35 when Scott Nations unleashes his tirade on Schiff, the fireworks start to fly… and Schiff (while being shouted over) reminds guests, anchors, and viewers alike “Go to YouTube, I am wrong a lot less often than most people on this program… and all you do is hassle me”  that he was among the very few appearing on CNBC before the crash who foresaw it and the cataclysmic shift that has occurred (no matter what the perception of short-term memory traders)…“Think of all the bulls you paraded out here when Nasdaq was 5,000″

Absolute must watch…

We can’t help but feel the timing of this tirade against Schiff is spookily prophetic and will be in its own YouTube class in a few years…

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Oct 28

Golden Chart Porn

Triple Bottom  –  Consecutive Higher Lows  –   Potential Reversal Pattern

Source

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Oct 28

- The Monetized New Millennium (StealthFlation, Oct 4, 2014):

New Monetized Millennium Facts Jack:

  • US real median family income has declined to the level of twenty years ago.
  • Labor participation rate has dropped to a 36 year low.
  • Total U.S. household debt, currently over $10 trillion, nearly tripled during the new millennium.
  • U.S. debt to GDP ratio up over 100% since we entered the new monetized millennium.
  • Anemic to flat-line average Real GDP growth throughout the new monetized millennium.
  • As for the new millennium inflation results, take a peak at the chart below, it will blow your mind.

inflation Continue reading »

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Oct 25

- Fastest Pace Of Withdrawals From JPM’s Gold Vault In Over A Year (ZeroHedge, Oct 24, 2014):

While JPM’s eligible gold holdings are nowhere near the record lows hit in the summer of 2013, when they dropped to a tiny 46K ounces, sparking concerns of a potential deliverable default, yesterday according to the daily CME gold depository report, JPM saw a whopping 321,500 ounces, or about 10 tons of gold, withdrawn. This was the biggest outflow since the August 5 rebalance when nearly 1.5 million ounces were withdrawn and added, and was the biggest, and is tied with two identical 321,500 oz outflows recorded in early January. As of yesterday, JPM’s eligible gold tumbled by 40% in one day, declining to 485.K ounces from over 800K the day before: the lowest eligible gold inventory since almost exactly a year ago.

Eligible Gold JPM Oct 2014

What is perhaps more notable, is that the recent outflows of eligible golds are taking place at the same time as there has been a significant reduction in the NAV/gold holdings of the GLD ETF. A question thus arises once again: where is the gold being withdrawn to and who is doing these not insubstantial withdrawals. Continue reading »

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