Feb 13

- Gold Breaks Above $1,300 (ZeroHedge, Feb 13, 2014):

For the first time since in over 3 months, spot gold prices are back above $1,300 and continued to be the best performing asset since the December taper and the start of the year… $1,304.70 is the crucial 200DMA that has not been tested since over a year ago.

Back above $1300 for first time since Nov 8th.

20140213_gold

and is pressing the 200DMA for the first time in over a year (and retraced to 50% of the 2008-2011 swing).

20140213_gold2

Gold has been outperforming… Continue reading »

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Feb 12

Next up:

Collapse of the entire financial sytem, like the Twin Towers and WTC7 (1,2,3), which collapsed in almost free fall.

- $1.08 TRILLION Worth of Gold, 102 MILLION oz of SILVER Were Stolen From Under the World Trade Center

And like with the stolen gold & silver from under the twin towers the Buba gold is already gone before the greatest financial collapse in world history will take place.

See also:

- Dr. Paul Craig Roberts: U.S. Gold Gone (Video)

- Dr. Paul Craig Roberts And Dave Kranzler: The Hows And Whys Of Gold Price Manipulation

- Germany Has Recovered A Paltry 5 Tons Of Gold From The NY Fed After One Year


stacks-of-gold-bars-close

- Bundesbank Moves Away From Specific Gold Repatriation Schedule (Liberty Blitzkrieg, Feb 11, 2014):

I am typically hesitant to highlight foreign articles that have been translated by others from languages I can’t comprehend. That said, Koos Jansen of In Gold We Trust, is someone who does great work and so I am running with his latest blog post on German gold repatriation, or a lack thereof.

According to Peter Boehringer, Founder German Precious Metal Society, it appears that the German Bundesbank is backing away from a specific repatriation schedule for the nation’s gold. He sources this claim from a recent article written in the Handelsblatt, titled ”Silence is Golden.” So in other words, the Federal Reserve told them to get lost. Continue reading »

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Feb 11
“The flow of gold from west to east is confirmed as China reports huge increase in recorded imports.”
- GoldCore

- China Gold Buying Surges 41% To 1,176 Tonnes In 2013 (ZeroHedge, Feb 10, 2014):

Today’s AM fix was USD 1,273.50, EUR 933.86 and GBP 776.95 per ounce.
Friday’s AM fix was USD 1,260.00, EUR 928.72 and GBP 771.16 per ounce.

Gold climbed $9.70 or 0.77% Friday to $1,267.10/oz. Silver rose $0.09 or 0.45% to $20.03/oz. Gold and silver were both up for the week at 1.78% and 4.54% respectively.

Gold is higher again today in all currencies and building on last weeks higher weekly close of 1.9% in dollars. Gold advanced 3.2% in January, the first monthly gain since August, as the benchmark MSCI World Index of equities slumped 4.1%. Continue reading »

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Feb 10

- China Surpasses India As Biggest Buyer Of Gold Following Record 2013 Imports, Consumption (ZeroHedge, Feb 10, 2014):

Two weeks ago we learned what many had already known just by extrapolating simple trends: in 2013 Chinese net imports of gold from Hong Kong alone rose to over 1000 tons of gold, or 1158 to be precise – 100 tons more than China’s official gold holdings of 1054 tons which have not “budged” in the past four years – following another significant net monthly import of 94.8 tons of the precious metal in December (and 126.6 gross). This means total gold imports in 2013 was more than double the 557 tons imported in 2012, and as a result China has now officially surpassed India as the world’s biggest buyer of gold (although the title may swing back to India once gold price controls are relaxed, or if the government were to count all the gold smuggled into the country via illegal channels).

As the chart below shows, no matter what the price of paper gold does, the Chinese bid remains unwavering.

China gross vs net

Reuters summarizes China’s insatiable apetite for the yellow metal: Continue reading »

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Feb 05

gold-silver-adp

- ADP Reaction – Bonds & Bullion Surge As Dead-Cat-Bounce Stock Bulls Purge (ZeroHedge, Feb 5, 2014):

Precious metals had begun to jump higher before the ADP data hit but once it did – and disappointed – gold and silver spiked (over $1,270 and $20 respectively). Equity markets kneejerk reaction was a spike higher which immediately faded into a crash to recent lows. Dow futures are testing 2014 lows – as are S&P 500 futures. 10Y Treasury yields touched 2.60%; Nikkei futures are once again testing 14,000 as USDJPY breaks below 101.

- ADP Plunges In January To 175K; Biggest Miss Since August; December Revised Lower: “Cold, Storms” Blamed (ZeroHedge, Feb 5, 2014):

And sure enough, the January ADP print missed as we expected, printing at 175K vs the expected 185K, while the December 238K was revised lower to 227K, confirming that ADP is nothing but an NDP trend follower and an absolutely worthless and meaningless data point that does nothing to add relevant data to the economic picture.

For those who care, this was the biggest miss since August and the largest monthly drop since August 2012, and the weakest print since August as well.

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Feb 03

- These Were The Best And Worst Performing Assets In January (ZeroHedge, Feb 3, 2014):

The first in 2013 – namely the Nikkei, because oddly enough everyone ignores that hyperinflation “success story” that is the Caracas stock market, was last in January. And vice versa: the best performing asset last month was the barbarous relic which every Keynesian “expert” once again left for dead in the last year, roundly ignoring that it has been the best performing asset class since the Lehman collapse.

These Were The Best And Worst Performing Assets In January

Some additional commentary from Deutsche Bank: Continue reading »

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Feb 02

- Market Cornered: JPMorgan Owns Over 60% Notional Of All Gold Derivatives (ZeroHedge, Feb 1, 2014):

Perhaps the only question we have after seeing the attached table, which shows that as of Q3, 2013 JPMorgan owned $65.4 billion, or just over 60% of the total notional ($108.2 billion) of all gold derivatives in the US, is whether the CFTC will pull the “our budget was too small” excuse to justify why it allowed Jamie Dimon to ignore any and all position limits and corner the gold market?

JPM Gold Derivatives

And purely as a reference point, the chart below compares the total value of gold held in JPM’s vault (registered and eligible) as of Friday’s closing price with its reported gold derivative notional holdings.

JPM Gold Physical vs Derivatives

Finally, for the purists out there, we realize that gross is not net… until there is a breach in the derivative counterparty collateral chain, and gross becomes net.

Source: OCC, Comex

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Jan 31

- JPMorgan Loses 44% of Gold Inventories in 4 Days! (SilverDoctors, Jan 29, 2014):

In another stunning withdrawal, JP Morgan had  an additional 321,500 oz  gold ounces removed from its vaults today.
Since last Thursday, JP Morgan has lost 44% (20 metric tons = 643,000 oz) of its gold inventories.

If a picture is worth a thousand words, then the table below is worth over $400 million (at current market prices):

From the SRSRocco Report:

Comex-Gold-Inventories-012814

Here is the Comex inventory table for last Thursday:

Continue reading »

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Jan 30

Gold Bitcoin_0

- The Difference Between Gold And Bitcoin (ZeroHedge, Jan 29, 2014):

Some perspective on the two “alternative currencies” – bullion and bitcoin -from the man who has run a hedge fund for 37 years and currently manages $23.3 billion, Elliott’s Paul Singer. Continue reading »

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Jan 29

marc-faber1

- Marc Faber Warns “Insiders Are Selling Like Crazy… Short US Stocks, Buy Treasuries & Gold” (ZeroHedge, Jan 28, 2014):

Beginning by disavowing Mario Gabelli of any belief that rising stock prices help ‘most’ people (“Fed data suggests half the US population has seen a 40% drop in wealth since 2007“), Marc Faber discusses his increasingly imminent fears of the markets in this recent Barron’s interview.

Quoting Hussman as a caveat, “The problem with bubbles is that they force one to decide whether to look like an idiot before the peak, or an idiot after the peak. There’s no calling the top,” Faber warns there are a lot of questions about the quality of earnings (from buybacks to unfunded pensions) but “statistics show that company insiders are selling their shares like crazy.”

His first recommendation – short the Russell 2000, buy 10-year US Treasuries (“there will be no magnificent US recovery”), and miners and adds own physical gold because the old system will implode. Those who own paper assets are doomed.”

Continue reading »

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Jan 27

- Are We On The Verge Of A Massive Emerging Markets Currency Collapse? (Economic Collapse, Jan 26, 2014):

This time, the Federal Reserve has created a truly global problem.  A big chunk of the trillions of dollars that it pumped into the financial system over the past several years has flowed into emerging markets.  But now that the Fed has decided to begin “the taper”, investors see it as a sign to pull the “hot money” out of emerging markets as rapidly as possible.  This is causing currencies to collapse and interest rates to soar all over the planet.  Argentina, Turkey, South Africa, Ukraine, Chile, Indonesia, Venezuela, India, Brazil, Taiwan and Malaysia are just some of the emerging markets that have been hit hard so far.  In fact, last week emerging market currencies experienced the biggest decline that we have seen since the financial crisis of 2008.  And all of this chaos in emerging markets is seriously spooking Wall Street as well.  The Dow has fallen nearly 500 points over the last two trading sessions alone.  If the Federal Reserve opts to taper even more in the coming days, this currency crisis could rapidly turn into a complete and total currency collapse. Continue reading »

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Jan 27


YouTube

Related info:

.- Dr. Paul Craig Roberts: U.S. Gold Gone (Video)

- Dr. Paul Craig Roberts And Dave Kranzler: The Hows And Whys Of Gold Price Manipulation

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Jan 26

- The Big Reset, Part 2 (In Gold We Trust, Jan 25, 2014):

The US wants its dollar system to prevail for as long as possible. It therefore has every interest in preventing a ‘rush out of dollars into gold’. By selling (paper) gold, bankers have been trying in the last few decades to keep the price of gold under control. This war on gold has been going on for almost one hundred years, but it gained traction in the 1960′s with the forming of the London Gold Pool. Just like the London Gold Pool failed in 1969, the current manipulation scheme of gold (and silver prices) cannot be maintained for much longer.

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Jan 25

- The FT Goes There: “Demand Physical Gold” As One Day Paper Price Manipulation Will End “Catastrophically”  (ZeroHedge, Jan 25, 2014):

What have we done: after a series of reports in late 2012 in which we showed, with no ambiguity, that not only might the Bundesbank’s offshore held gold be severely “diluted” (follow our 2012 exposes on German gold here, here, here, and here), but that on at least one occassion, the Fed and the Bank of England conspired against the Buba in returning subpar quality gold, the Bundesbank shocked everyone in early January 2013 when it announced it would repatriate 300 tons of gold helt in New York and all of its 374 tons of gold held in Paris. But convincing the Bundebsbank to demand delivery was peanuts compared to changing the tune of the Financial Times – that bastion of fiat “money”, and where the word gold is mocked and ridiculed, and those who see the daily improprieties in the gold market as nothing but “conspiracy theorists” – to say the magic words: “Learn from Buba and demand delivery for true price of gold”, adding that “one day the ties that bind this pixelated gold may break, with potentially catastrophic results.

Continue reading »

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Jan 24

- JPMorgan’s Gold Vault Has Biggest One-Day Withdrawal Ever (ZeroHedge, Jan 24, 2014):

Curious why over the past few months JPM has quietly been accumulating a substantial amount of eligible physical gold (even as its registered gold inventory is the lowest it has ever been at just 87K ounces since December 13, 2013 when 147K ounces of gold was withdrawn – keep that date in mind for a few minutes)? This may have something to do with it: moments ago the daily Comex gold vault report confirmed what many expected, namely that the JPM accumulation was merely in advance anticipation of major withdrawals. How major? Well, on January 23, JPM saw 321,500 ounces of gold depart in one day. This was tied for the single biggest daily withdrawal in history!The last time JPM had an identically sized withdrawal? December 13…. 2012. Continue reading »

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Jan 23

- What an Inflation-Adjusted All Time High in Gold Would Look Like (ZeroHedge, Jan 22, 2014):

Gold has been in a bear market for some two years now. As a result of this, many investors believe that the precious metal is no longer a viable investment.

No investment ever goes straight up or straight down. During the last bull market in gold, the precious metal rose 2,329% from a low of $35 in 1970 to a high of $850 in 1980. However, during that time, there was a period of 18 months in which gold fell nearly 50% (see the chart below) Continue reading »

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Jan 22

Dr. Paul Craig Roberts was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University.


YouTube Added:Jan 20, 2014

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Jan 22

Dr. Paul Craig Roberts was Assistant Secretary of the Treasury during President Reagan’s first term. He was Associate Editor of the Wall Street Journal. He has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University, and Senior Research Fellow, Hoover Institution, Stanford University.

- The Hows and Whys of Gold Price Manipulation (Paul Craig Roberts, Jan 17, 2014):

Paul Craig Roberts and Dave Kranzler.

The deregulation of the financial system during the Clinton and George W. Bush regimes had the predictable result: financial concentration and reckless behavior. A handful of banks grew so large that financial authorities declared them “too big to fail.” Removed from market discipline, the banks became wards of the government requiring massive creation of new money by the Federal Reserve in order to support through the policy of Quantitative Easing the prices of financial instruments on the banks’ balance sheets and in order to finance at low interest rates trillion dollar federal budget deficits associated with the long recession caused by the financial crisis.

Continue reading »

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Jan 22

- Things That Make You Go Hmmm… Like Gold Bullion, Gordon Brown, & A Growling Bundesbank (ZeroHedge, Jan 21, 2014):

2013 was an absolutely seismic year for gold, but, as Grant Williams details in his latest letter, the way in which the tectonic plates shifted has yet to be fully understood. Simply put, the gold in every central bank’s possession around the world is the property of the citizens of that country – not of the incumbent politicians or central bankers. Consequently, if the people want it audited, there shouldn’t be any reason to say no … unless… Williams firmly believes that in the years to come, when we look back at the great game being played in gold, we will pinpoint January 16, 2013, as the day when it all began to unravel – the day the Bundesbank blinked and demanded its gold… Continue reading »

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Jan 19

See also:

- ‘Monkey Business’ Surrounding The Repatriation Of Germany’s Gold Stored At The NY Federal Reserve Bank


gold-bars

- Germany Has Recovered A Paltry 5 Tons Of Gold From The NY Fed After One Year (ZeroHedge, Jan 19, 2014):

On December 24, we posted an update on Germany’s gold repatriation process: a year after the Bundesbank announced its stunning decision, driven by Zero Hedge revelations, to repatriate 674 tons of gold from the New York Fed and the French Central Bank, it had managed to transfer a paltry 37 tons. This amount represents just 5% of the stated target, and was well below the 84 tons that the Bundesbank would need to transport each year to collect the 674 tons ratably over the 8 year interval between 2013 and 2020. The release of these numbers promptly angered Germans, and led to the rise of numerous allegations that the reason why the transfer is taking so long is that the gold simply is not in the possession of the offshore custodians, having been leased, or worse, sold without any formal or informal announcement. However, what will certainly not help mute “conspiracy theorists” is today’s update from today’s edition of Die Welt, in which we learn that only a tiny 5 tons of gold were sent from the NY Fed. The rest came from Paris.

As Welt states, “Konnten die Amerikaner nicht mehr liefern, weil sie die bei der Federal Reserve of New York eingelagerten gut 1500 Tonnen längst verscherbelt haben?” Or, in English, did the US sell Germany’s gold? Maybe. The official explanation was as follows: “The Bundesbank explained [the low amount of US gold] by saying that the transports from Paris are simpler and therefore were able to start quickly.” Additionally, the Bundesbank had the “support” of the BIS “which has organized more gold shifts already for other central banks and has appropriate experience – only after months of preparation and safety could transports start with truck and plane.” That would be the same BIS that in 2011 lent out a record 632 tons of gold…

Continue reading »

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Jan 19

- Physical Gold Shortage Goes Mainstream (ZeroHedge, Jan 17, 2014):

While the topic of rehypothecation and the shortage of physical gold is well covered here at Zero Hedge (and the ever-changing COMEX gold vaults’ inventories), it appears the concept of the exploding “leverage” or default risk of the COMEX has now hit the mainstream media. As BNN reports, veteran trader Tres Knippa, pointing to recent futures data, says “there may not be enough gold to go around if everyone with a futures contract insists on taking delivery of physical bullion.” As he goes on to explain to a disquieted anchor, “the underlying story here is that the people acquiring physical gold continue to do that. And that’s what is important,” noting large investors like hedge fund manager Kyle Bass are taking delivery of the gold they’re buying. Knippa’s parting advice, buy physical gold; avoid paper.

One of the problems…

COMEX-gold-shortage

That won’t end well…

And the excellent summary from a veteran trader: Continue reading »

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Jan 18

- Watch Out, “Bull Market Ahead” – Seven Key Gold Charts (ZeroHedge, Jan 17, 2014)

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Jan 18

- Sprott: “Manipulation Of Gold By Central Banks Cannot Continue In 2014″ (ZeroHedge, Jan 17, 2014):

With Deutsche Bank quitting the price-setting panel for gold and Bafin bearing down on the manipulators, Eric Sprott provides some more color on where the manipulation in the precious metals markets is underway (and when it will end)…

Submitted by Eric Sprott of Sprott Global Resource Investments,

Introduction

As we very well know, 2013 was a difficult but also puzzling year for precious metals investors. The price of gold, silver and their related equities declined by a significant amount while demand for physical bullion from emerging markets and their Central Banks was exceptionally strong.

Continue reading »

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Jan 18

- German Gold Manipulation Blowback Escalates: Deutsche Bank Exits Gold Price Fixing (ZeroHedge, Jan 17, 2014):

Germany’s blowback against gold manipulation is accelerating. Following yesterday’s report that Bafin took a hard line against precious metals manipulation, after its president Elke Koenig said possible manipulation of precious metals “is worse than the Libor-rigging scandal“, today the response has trickled down to Germany and Europe’s largest bank, Deutsche Bank, which announced that it would withdraw from the appropriately named gold and silver price “fixing”, as European regulators investigate suspected manipulation of precious metals prices by banks. As a reminder, Deutsche is one of five banks involved in the twice-daily gold fix for global price setting and said it was quitting the process after withdrawing from the bulk of its commodities business. The scramble away from gold fixing was certainly assisted by the recent first (of many) manipulation expose in the legacy media, when Bloomberg revealed “How Gold Price Is Manipulated During The “London Fix.” And sure enough, with Germany already very sensitive to the topic of its gold repatriation, and specifically why it is taking so long, it was only a matter of time before any German involvement in gold manipulation escalated to the very top.

Reuters has more:

“Deutsche Bank is withdrawing its participation in the gold and silver benchmark setting process following the significant scaling back of our commodities business. We remain fully committed to our precious metals business,” it said in a statement.

Continue reading »

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Jan 16

- Precious Metals Manipulation Worse Than Libor Scandal, German Regulator Says (ZeroHedge, Jan 16, 2014):

Remember when banks were exposed manipulating virtually everything except precious metals, because obviously nobody ever manipulates the price of gold and silver? After all, the biggest “conspiracy theory” of all is that crazy gold bugs blame every move against them on some vile manipulator. It may be time to shift yet another conspiracy “theory” into the “fact” bin, thanks to Elke Koenig, the president of Germany’s top financial regulator, Bafin, which apparently is not as corrupt, complicit and clueless as its US equivalent, and who said that in addition to currency rates, manipulation of precious metals “is worse than the Libor-rigging scandal.” Hear that Bart Chilton and friends from the CFTC?

More on what Elke Koenig said from Bloomberg: Continue reading »

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Jan 15

Prepare for collapse.


- Baltic Dry Index Collapses 39% In 9 Trading Days (ZeroHedge, Jan 15, 2014):

baltic-dry-index-collapse

The Baltic Dry Index,  a measure of commodity-shipping rates, has collapsed 39% in just the nine trading days of 2014. It has fallen from 2277 at the end of December 2013 to 1370 today. This key indicator of global economic health is a warning signal for the global economy in 2014.

Marc Faber told Bloomberg TV in an interview that, ”I prefer physical gold and silver, platinum to bitcoin. How do you value a bitcoin? I can value gold to some extent and compare say gold to the quantity of money that is floating around the world, to the wealth increase, and to the monetary base increase, to the credit increase, and so forth and so on, and to the production costs. So I have an idea of where gold should be.”

A diversified precious metals portfolio with allocations to gold, silver, platinum and palladium remains prudent.

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Jan 12

Flashback:

- DHS Insider Update … Looks Like “It’s About To Get Very Ugly” … Very Soon!!!

- Breaking News: DHS Insider: It’s About To Get Very Ugly

- DHS Insider: ‘There Won’t Be Any Meaningful Deal About The Fiscal Crisis. This Is Planned … The Coming Collapse Of The U.S. Dollar Is A Done Deal.’

- DHS Insider On The Catastrophic State Of America

Possibly related info:

- Arnie Gundersen On U.S. Gov’t Buying 14 Million Potassium Iodide Pills (Used During Nuclear Disasters)

- Feds Want To Buy 14 Million Potassum Iodide Tablets

- US Military Is Stocking Up On A Massive Amount Of Anti-Radiation Pills In Preparation For Nuclear Fallout


us-constitution-dhs

- DHS insider gives final warning (Canada Free Press, Dec 29, 2013):

Under the cover and amid the distraction of the Christmas bustle, I had my last “official” contact with a source inside the Department of Homeland Security known as “Rosebud” in my writings. My source is leaving his position, retiring along with numerous others choosing to leave this bureaucratic monstrosity.

For this contact, my source took unprecedented measures to be certain that our contact was far off the radar of prying government eyes and ears. I was stunned at the lengths he employed, and even found myself somewhat annoyed by the inconvenience that his cloak-and-dagger approach caused. It was necessary, according to my source, because all department heads under FEMA and DHS are under orders to identify anyone disclosing any information for termination and potential criminal prosecution.

Continue reading »

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Jan 11

- The Other Side Of Marc Faber: Gold, Hashish, And ‘Efficient’ Whiskey-Drinking (ZeroHedge, Jan 10, 2014):

From hashish to drinking cheap whiskey in Chiang Mai clubs, the following clip rounds up the ‘best of’ Marc Faber over the last few years…
  • On the elites – “I am not sure the thinkers are in Davos
  • On the media – “you are an optimist, keep on dreaming… us foreigners just laugh”
  • On solutions – “cut government expenditures by 50%; fire half the government… including the President”
  • On Americans – “people in the western world have abandoned personal responsibility
  • On government – “who would have faith in the US administration, certainly not someone who thinks”
  • On Gold – not to own gold is to trust central banks, and that you don’t want to do in your life

And another oldie but a goodie that sums up stimulus perfectly… Continue reading »

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Jan 08

- One Week Into 2014, UK Royal Mint Runs Out Of Gold Coins (ZeroHedge, Jan 8, 2014):

Update: the UK mint was kind enough to advice that “only” Sovereigns are sold out. More expensive coins are still available:

 

Just 2 day safter their release, The U.K.’s Royal Mint said it ran out of 2014 Sovereign gold coins “due to exceptional demand.”

  • *U.K. ROYAL MINT SAYS RUNS OUT OF 2014 SOVEREIGN GOLD COINS
  • *ROYAL MINT SAYS EXPECTS TO HAVE COIN STOCK AGAIN BY END OF JAN.

The mint added “Since the dip in the price of gold we have seen increased demand for our gold bullion coins from the major coin markets, and this presently shows no sign of abating.”

ukgold

Via Bloomberg,

The U.K.’s Royal Mint said it ran out of 2014 Sovereign gold coins “due to exceptional demand.”

Continue reading »

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Jan 07

- Forecast 2014 — Burning Down the House (By James Howard Kunstler, Jan 6, 2014):

Many of us in the Long Emergency crowd and like-minded brother-and-sisterhoods remain perplexed by the amazing stasis in our national life, despite the gathering tsunami of forces arrayed to rock our economy, our culture, and our politics. Nothing has yielded to these forces already in motion, so far. Nothing changes, nothing gives, yet. It’s like being buried alive in Jell-O. It’s embarrassing to appear so out-of-tune with the consensus, but we persevere like good soldiers in a just war.

Paper and digital markets levitate, central banks pull out all the stops of their magical reality-tweaking machine to manipulate everything, accounting fraud pervades public and private enterprise, everything is mis-priced, all official statistics are lies of one kind or another, the regulating authorities sit on their hands, lost in raptures of online pornography (or dreams of future employment at Goldman Sachs), the news media sprinkles wishful-thinking propaganda about a mythical “recovery” and the “shale gas miracle” on a credulous public desperate to believe, the routine swindles of medicine get more cruel and blatant each month, a tiny cohort of financial vampire squids suck in all the nominal wealth of society, and everybody else is left whirling down the drain of posterity in a vortex of diminishing returns and scuttled expectations.

Continue reading »

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