The global financial system continues to groan under the strain of the accumulated weight of trillions of dollars of debt and derivatives, which have built up to even more fantastic levels than those that precipitated the near collapse in 2008. And thanks to the policy of solving liquidity problems near-term by creating even more debt and derivatives, Quantitative Easing being the most obvious example. However, while the majority consider the situation to be hopeless, there is actually “light at the end of the tunnel.”
If only a way could be found to freely tap the funds of savers at will, by imposing duties or taxes on bank accounts with the additional option to appropriate savers’ funds on occasion as required. Subsequently, the systemic liquidity problems will be solved. Banks need never fear solvency problems again. Consequently, they can simply fall back on the account holder’s funds to meet any obligations. There are in fact already names for these restorative operations, they are called “bails-ins” and NIRP (Negative Interest Rate Policy). Continue reading »
As it goes in silver, so it goes in gold. In London at least.
In a bid to have UBS reinstated as a defendant in a London Gold Fix antitrust lawsuit, plaintiffs documents submitted to a New York Court last week include explosive chat room transcripts of UBS and traders from different banks encouraging each other to “push,” “smack,” and “whack” gold prices.
Back in April, when we first reported that Deutsche Bank had agreed to settle allegations it had rigged the silver market in exchange for $38 million, we revealed something stunning: “in a curious twist, the settlement letter revealed that the former members of the manipulation cartel have turned on each other“, and that Deutsche Bank would provide docments implicating other precious metals riggers. To wit: “In addition to valuable monetary consideration, Deutsche Bank has also agreed to provide cooperation to plaintiffs, including the production of instant messages, and other electronic communications, as part of the settlement. In Plaintiff’s estimation, the cooperation to be provided by Deutsche Bank will substantially assist Plaintiffs in the prosecution of their claims against the non-settling defendants.”
Overnight we finally got a glimpse into what this “production” contained, and according to documents filed by the plaintiffs in the class action lawsuit, what Deutsche Bank provided as part of its settlement was nothing short of “smoking gun” proof that UBS Group AG, HSBC Holdings Plc, Bank of Nova Scotia and other firms rigged the silver market. The allegation, as Bloomberg first noted, came in a filing Wednesday in a Manhattan federal court lawsuit filed in 2014 by individuals and entities that bought or sold futures contracts. Continue reading »
“H/t reader squodgy:
Here it is.
We have been warned.”
In these volatile times, gold is more important than ever. Bonner & Partners’ Bill Bonner explains in this two-part series, the importance of ‘real money’ and why you need it now…
Many years ago, before the invention of modern money or capitalism, people still had wealth – although limited. And they still had ways of keeping track of it. The principle of “fair trade” seems to be in our DNA.
If you give something to your neighbor, you don’t expect him to hit you over the head. You expect him to give you something back. And if you give him a whole cow and he gives you half of a rabbit, some instinct tells you it isn’t “fair.”
Small communities could keep track of who owed what to whom. But as civilization evolved, a new kind of money was needed. Continue reading »
Oct 27, 2016
Internet data mining expert Clif High says the economy is much worse than most people think, and that bubble is going to pop after Election Day. High contends, “It’s more like we are in a depression now and the illusion that everybody has been manufacturing and they just give up the Potemkin Village on the 9th of November. If the Deep State is confused how things are going to occur going forward, in other words, they know their candidate lost, but they are still going to potentially try to engineer things. That level of confusion on the Deep State’s part is what is going to draw in the collapse component on the other. That will happen instantly on the 9th because the Deep State is so involved in our predatory cronyism financial structure.”
Inflation is also coming, and that will be very positive for precisions metals. High contends, “Gold and silver are going to rise relative to the falling currencies. Gold and silver in actual purchasing power will also rise. They won’t be saying an ounce of gold bought a good suit 100 years ago and an ounce of gold will buy a good suit now. That’s going to change, and it’s also going to change radically with silver. Also, in our data sets between 2019 and 2024, silver becomes the metal to have. . . . You need to have silver. The reason being the innovations that will be occurring over those next five years. Silver will become much more in demand than we can imagine now.”
High also talks about energy, war and the fate of the mainstream media in this in-depth interview.
Join Greg Hunter as he goes One-on-One with Clif High, founder of HalfPastHuman.com.
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The sell-off before Deutsche Bank & the markets are crashing?
The next several days up to Oct. 12 (Yom Kippur) have a high probability for something “big” to happen.
Prepare for collapse.
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H/t reader squodgy:
“OK, until the PTB (Rothschilds) can pinpoint the exact timing for a Smokescreened/War based Economic Collapse where their financial system inadequacies will escape scrutiny, they will just keep printing worthless paper and nobody will notice or care.
But when that trigger is pulled, what use will precious metals be? OK, say Gold goes up to $5G/oz, it will still only buy the same number of loaves of bread as it did at $1G/oz. Hyperinflation will take care of that.
So accumulating precious metals will simply be a basic currency, but only if all other traders have followed suit.
For instance, if only say 5% have made any efforts to hoard precious metal, how will they reach a pricing schedule with bakers, butchers, greengrocers, electrical dealers etc who haven’t seen it coming?
People should be working on this now, but they believe in trusting Government. JEEZ!”
Economist David Morgan of The Morgan Report is one of the world’s best known silver investors. In the following interview with Future Money Trends Morgan discusses his personal experiences during the last major run-up in gold, when it hit a price of $850 in early 1980. As Morgan describes it, there was significant panic buying during that time period, and should central banks and governments continue on their current course, we’ll see a similar endgame play out this time around:
What’s good for gold is the end of empire… And we’ve got governments that are failing… When these bond markets blow up further, that’s when you’re going to see a run to gold than we’ve already seen…
Wait until the physical market freezes up, which could happen. I am not saying it would happen, but it could. With the worldwide demand and a failing currency across the world, where do you think people are going to go? They’re going to go to precious metals which have been trusted for thousands of years. Continue reading »
Silver kangaroo coins have seen sales surge to over 10 million coins which is double the expected demand for the year.
Introduced to the market less than 11 months ago in September 2015 at a launch attended by GoldCore, sales of the new release Perth Mint’s 2016 Australian Kangaroo 1 ounce silver bullion coin were anticipated to reach 5 million coins in their introductory first year. Yet sales of the silver coins have already surged to a whopping 10 million coins.
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Earlier this year, the director of marketing and sales at the Austrian Mint confirmed to Bloomberg in an interview that the Mint’s combined gold bar and gold coin sales in 2015 had totalled 1.32 million troy ounces, a 45% increase on 2014, while the Mint’s silver sales in 2015 had reached 7.3 million ounces, a figure 58% higher than in 2014.
Since Münze Österreich, or the Austrian Mint in English, only publishes its annual report in July of each year, we had to wait a few months to see the granular details behind these sales numbers. Now that the Austrian Mint’s 2015 Annual Report has been published, the detailed sales figures are as follows.
Gold Philharmonics – 23.5 tonnes
In 2015, the Austrian Mint sold 756,200 troy ounces (23.52 tonnes) of Vienna Philharmonic gold coins, of which 647,100 troy ounces (20.18 tonnes) were in the form of its flagship 1 oz Vienna Philharmonics, with the remainder comprising ½ oz, ¼ oz, 1/10 oz and 1/25 oz gold Philharmonic coins, as well as a handful of the Mint’s very large 20 oz gold Philharmonics. Gold Philharmonic sales in 2015 were 56% higher than comparable sales of 483,700 ozs in 2014, and were also higher than 2013’s figure of 652,600 ozs.
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In what appears to be a strategy designed to keep their financial system afloat when fiat currencies around the world collapse under the strain of trillions in quantitatively eased debt, the Tokyo Commodity Exchange (TOCOM) has now shifted their operations so that all trade settlements can be completed in physical gold. The move follows the opening of the Shanghai Gold Exchange (SGE), which is the East’s answer to decades of manipulated precious metals prices by a concentration of inside players. It’s an open secret that western central banks and cooperating financial institutions have controlled the price of gold for years. The opening of the SGE and Japan’s TOCOM shift should be a clear signal that eastern governments like China, Japan and Russia are no longer willing to play a rigged game and that they are preparing to allow gold to be freely exchanged on the open market in its physical form. Continue reading »
The pending Brexit has, not surprisingly, caused a shake-up in the investment world, particularly in the UK. Of particular note is that, recently, asset management firms in Britain began refusing their clients the right to cash out of their mutual funds. Of the £35 billion invested in such funds, just under £20 billion has been affected. Continue reading »
Jeff interviews Bulgarian author living in Canada, Philip Lychkov, topics include: Bulgaria under communist rule, the change from socialism to capitalism, state owned businesses, hyperinflation in the west, the situation in Canada, things moving to the East, Canada sells all gold reserves while Eastern countries are buying gold aggressively, a coming economic depression, making preparations for the crisis, pay off your debt! in Bulgaria people thought the government was going to look after them, they were wrong, the end of Europe, the people who prospered during the Bulgarian crisis, precious metals, getting the warning out to others, getting outside the dollar system, what happens after the collapse? Philip Lychkov’s coming book: ‘Surviving Tough Times.’
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Silver just took out $20 in Sunday night Globex trading, But that’s not all, silver briefly pierced $21 tonight before settling back to the mid $20’s. Andy Hoffman joins us for a Sunday update and warns, “We are at a flashpoint in history… there is literally a tiny, tiny window left for people to protect themselves before all hell breaks loose.”
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The number one reason to buy physical gold and physical silver (not paper gold and paper silver, which is not the same thing) is very likely not what you think it is. I can deduce the number one reason why most people buy gold and silver simply from the disproprotionate amount of questions I receive about buying gold and silver whenever gold and silver prices are rising significantly versus when gold and silver prices are falling. In other words, most people believe that that top reason they should buy gold and silver is to profit from rising prices. However, this is far from the best reason to buy physical gold and physical silver. The number one reason to buy physical gold and silver, bar none, is the global currency rot that is happening today, that is relentless, and that Central Bankers are now helpless to stop (though they are responsible for creating it). Of course, some may say that benefiting from rising fiat currency prices of gold and silver is the same reason as protecting onself against currency rot, but in reality, these two reasons for buying gold and silver are as different as night and day, and here’s why. Of those that want to benefit from rising fiat currency prices of gold and silver, the vast majority are looking for a quick score, and they buy gold and silver for this reason without even taking the time to truly understand the value of gold and silver. Those seeking a quick profit from ownership of gold and silver typically fail to understand that: Continue reading »
“Instead of a sane response to real climate change which indicates we are tilting toward an ice age, governments scramble to keep alive policies designed to manipulate and deceive the people.”
– Harold J. Satterfield
“Climate change” a scheme for implementing world government
By Harold J. Satterfield
Brexit is only the most obvious symptom of a more general problem that is deep rooted and probably cannot be fixed by politicians taking conventional measures.
The fact is that globalization is failing. It’s beginning a slow and at this point almost imperceptible drop toward the hard cobblestones below that can only accelerate, and when it finally hits bottom, it will break into a million pieces and all the king’s horses and all the king’s men won’t be be able to fix it. Continue reading »
Gold and silver are the best performing assets in H1, 2016 and saw gains of 26% and 38% respectively. They were the best performing assets prior to Brexit and they are the best performing assets since Brexit. Gold and silver are up 6% and 11% respectively since the seismic Brexit vote led to turmoil on global markets.
Global stocks had a torrid first half with European and Asian stocks coming under severe selling pressure. The Euro Stoxx 50 fell 10.4%. The Nikkei was down a whopping 17%, while the Shanghai A shares was down by even more – nearly 20 percent. U.S. shares remained elevated – largely due to continuing zero percent interest policies (ZIRP) by the Federal Reserve – contrary to all the speculative, nonsense talk of the Fed rising rates. Continue reading »
Silver has surged another 2.7% higher this morning to $19.23/oz. This after yesterday’s 3% surge when silver flew through resistance at the $18 level to close at $18.26/oz. Silver is 20% higher in dollar terms in June. Silver has surged by similar amounts in euros and by 28% in beleaguered sterling in the month.
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While gold surged to its highest since March 2014 on Brexit; Silver is nearing $19, up almost 9% since Brexit, breaking above Jan 2015 highs to its highest since Sept 2014…
Gold has not been this ‘cheap’ to Silver since May 2015…
If gold is institutional safe-haven buying then many argue the surge in silver is retail rotation out of fiat.
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