Friday, January 31, 2014

Weekend Chillout - We Won't Forget You Ben


Today is the last day for Ben Bernanke in his role as the US Federal Reserve Chairman. Whilst he won't be remembered fondly by all, he really should be by precious metals bugs, for without him stimulating our passion we would never have had the stellar recovery in prices from the 2008/2009 lows.

Mix by underground LA DJ Jessie Andrews


Rand Paul to file class-action lawsuit against NSA

From RT America

Published on Jan 30, 2014

Sen. Rand Paul (R-Ky.) is planning to file a class-action lawsuit against the National Security Agency for spying on Americans with its bulk metadata collection programs. At the State of the Net conference in Washington, DC, Paul questioned the constitutionality of using one warrant to collect hundreds of thousands of records. RT's Ameera David talks to Wes Benedict, executive director of the Libertarian National Committee, and Matt Binder, a producer at The Majority Report, about the constitutionality of the NSA's surveillance programs and other news about the spy agency.

Boom Bust - Thomas Palley: 'Sorry, but Paul Krugman isn't a real Keynesian'

From Boom Bust

What in the World Is Worrying Markets?

Jan. 30 (Bloomberg) -- Bloomberg's Alix Steel and Economics Editor Michael McKee examine the issues impacting markets in "On The Markets" on Bloomberg Television's "In The Loop."

Bill Gross: Obvious Fed 'wants out' of QE


James Grant: Fed has 'fingers and thumbs' on scale of finance


Why is the Fed tapering?

By Paul Craig Roberts and Dave Kranzler

On January 17, 2014, we explained “The Hows and Whys of Gold Price Manipulation.” http://www.paulcraigroberts.org/2014/01/17/hows-whys-gold-price-manipulation/
In former times, the rise in the gold price was held down by central banks selling gold or leasing gold to bullion dealers who sold the gold. The supply added in this way to the market absorbed some of the demand, thus holding down the rise in the gold price.

As the supply of physical gold on hand diminished, increasingly recourse was taken to selling gold short in the paper futures market. We illustrated a recent episode in our article. Below we illustrate the uncovered short-selling that took the gold price down today (January 30, 2014).

When the Comex trading floor opened January 30 at 8:20AM NY time, the price of gold inexplicably plunged $17 over the next 30 minutes. The price plunge was triggered when sell orders flooded the Comex trading floor. Over the course of the previous 23 hours of trading, an average of 202 gold contracts per minute had traded. But starting at the 8:20AM Comex, there were four 1-minute windows of trading here’s what happened:

8:21AM: 1766 contracts sold
8:22AM: 5172 contracts sold
8:31AM: 3242 contracts sold
8:47AM: 3515 contracts sold

image

Over those four minutes of trading, an average of 3,424 contracts per minute traded, or 17 times the average per minute volume of the previous 23 hours, including yesterday’s Comex trading session.

The yellow arrow indicates when the Comex floor opened for gold futures trading. There was not any news events or related market events that would have triggered a sell-off like this in gold. If an entity holding many contracts wanted to sell down its position, it would accomplish this by slowly feeding its position to the market over the course of the entire trading day in order to avoid disturbing the price or “telegraphing” its intent to sell to the market.

Instead, today’s selling was designed to flood the Comex trading floor with a high volume of sell orders in rapid succession in order to drive the price of gold as low as possible before buyers stepped in.

The reason for this is two-fold: Driving down the price of gold assists the Fed in its efforts to support the dollar, and the Comex is running out of physical gold available to be delivered to those who decide to take delivery of gold instead of cash settlement.

The February gold contract is subject to delivery starting on January 31st. As of January 29th, 2 days before the delivery period starts, there were 2,223,000 ounces of gold futures open against 375,000 ounces of gold available to be to be delivered. The primary banks who trade Comex gold (JP Morgan, HSBC, Bank Nova Scotia) are the primary entities who are short those Comex contracts. Typically toward the end of a delivery month, these banks drive the price of gold lower for the purpose of coercing holders of the contracts to sell. This avoids the problem of having a shortage of gold available to deliver to the entities who decide to take delivery. With an enormous amount of physical gold moving from the western bank vaults to the large Asian buyers of gold, the Comex ultimately does not have enough gold to honor delivery obligations should the day arrive when a fifth or a fourth of the contracts are presented for delivery. Prior to a delivery period or due date on the contracts, manipulation is used to drive the Comex price of gold as low as possible in order to induce enough selling to avoid a possible default on gold delivery.

Following the taper announcement on January 29, the gold price rose $14 to $1270, and the Dow Jones Index dropped 100 points, closing down 74 points from its trading level at the time the tapering was announced. These reactions might have surprised the Fed, leading to the stock market support and gold price suppression on January 30.

Manipulation of the gold price is a foregone conclusion. The question is: why is the Fed tapering? The official reason is that the recovery is now strong enough not to need the stimulus. There are two problems with the official explanation. One is that the purpose of QE has always been to support the prices of the debt-related derivatives on the balance sheets of the banks too big to fail. The other is that the Fed has enough economists and statisticians to know that the recovery is a statistical artifact of deflating GDP with an understated measure of inflation. No other indicator–employment, labor force participation, real median family income, real retail sales, or new construction–indicates economic recovery. Moreover, if in fact the economy has been in recovery since June 2009, after 4.5 years of recovery it is time for a new recession.

One possible explanation for the tapering is that the Fed has created enough new dollars with which to purchase the worst part of the banks’ balance sheet problems and transfer them to the Fed’s balance sheet, while in other ways enhancing the banks’ profits. With the job done, the Fed can slowly back off.

The problem with this explanation is that the liquidity that the Fed has created found its way into the stock and bond markets and into emerging economies. Curtailing the flow of liquidity crashes the markets, bringing on a new financial crisis.

We offer two explanations for the tapering. One is technical, and one is strategic.

First the technical explanation. The Fed’s bond purchases and the banks’ interest rate swap derivatives have made a dent in the supply of Treasuries. With income tax payments starting to flow in, fewer Treasuries are being issued to put pressure on interest rates. This permits the Fed to make a show of doing the right thing and reduce bond purchases. As a weakening economy becomes apparent as the year progresses, calls for the Fed to support the economy will permit the Fed to broaden the array of instruments that it purchases.

A strategic explanation for tapering is that the growth of US debt and money creation is causing the world to turn a jaundiced eye toward the US dollar and toward its role as world reserve currency.

Currently the Russian Duma is discussing legislation that would eliminate the dollar’s use and presence in Russia. Other countries are moving away from the dollar. Recently the Nigerian central bank reduced its dollar reserves and increased its holdings of Chinese yuan. Zimbabwe, which was using the US dollar as its own currency, switched to Chinese yuan. The former chief economist of the World Bank recently called for terminating the use of the dollar as world reserve currency. He said that “the dominance of the greenback is the root cause of global financial and economic crises.” Moreover, the Federal Reserve is very much aware of the flight away from the dollar into gold, because it is this flight that causes the Fed to manipulate the gold price in order to hold it down and in order to be able to free up gold for delivery.

The Fed knows that the ability of the US to pay its bills in its own currency is the reason it can stand its large trade imbalance and is the basis for US power. If the dollar loses the reserve currency role, the US becomes just another country with balance of payments and currency problems and an inability to sell its bonds in order to finance its budget deficits.

In other words, perhaps the Fed understands that a dollar crisis is a bigger crisis than a bank crisis and that its bailout of the banks is undermining the dollar. The question is: will the Fed let the banks go in order to save the dollar?

Paul Craig Roberts is a former Assistant Secretary of the US Treasury for Economic Policy. Dave Kranzler traded high yield bonds for Bankers Trust for a decade. As a co-founder and principal of Golden Returns Capital LLC, he manages the Precious Metals Opportunity Fund.

Happy Year of the Horse

Kung hei fat choi to all my blog followers.



Breaking The Set - State of the Union Fail

I suggest jumping to the 15min point unless you are really into your aquatic mammals. 

From breakingtheset

Emerging markets catch cold, U.S. and Europe sneeze: Shades of 1997?


Thursday, January 30, 2014

Keiser Report: Print or Taper?

From RT

Published on Jan 30, 2014

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the print, taper, print, taper talk that has led to the economic and financial chaos that finds the Financial Times opining that one should do like the Bundesbank did and demand physical delivery of your gold before your wealth becomes pixellated.

In the second half, Max interviews John Mauldin, author of CODE RED: How to Protect Your Savings From the Coming Crisis, about money printing, inflation/deflation, gold prices and wages.

G. Edward Griffin: How Socialism, Communism, Fascism are All the Same

From FinanceAndLiberty.com

George Magnus: The next economic crisis has already begun

From Boom Bust

Published on Jan 29, 2014

If one listens to US media, it's all about the US domestic agenda. U.S. President Obama laid out his priorities for 2014, including a widely discussed minimum wage for government. But outside of the US and in the financial markets, there is a growing concern about emerging markets -- countries like Argentina, Turkey, India and China. Erin Ade discusses the themes.

Wednesday, January 29, 2014

Boom Bust - Blondes and Bitcoins

From Boom Bust

Keiser Report: MaxCoin

Note: Discreet Bullion will be accepting Maxcoins when they become available. See their FAQ for details.

From RT

Published on Jan 28, 2014

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the role the Davos discount and well executed transactions play in our declining economic fortunes.

In the second half, Max interviews Jordan Fish and Luke Mitchell about the creation and launch of a new cryptocurrency called - MaxCoin! They discuss the various features on which one must decide when creating a cryptocurrency and what the role of these alt-coins are in the entire Bitcoin ecosystem.

Tuesday, January 28, 2014

James Dines on 3D Printing, Gold and Silver

James Dines discusses 3D printing and manufacturing, also the outlook for gold and silver prices in 2014. Listen to the KWN interview here

Gold Flows East as Bars Recast for Chinese Defying Slump

From bloomberg.com

Article link

Gold’s biggest slump in three decades has been a boon for MKS (Switzerland) SA’s PAMP refinery near the Italian border in Castel San Pietro, whose bullion sales to China surged to a record as demand rose for coins, bars and jewelry.

As prices plunged 28 percent in 2013, investors dumped a record 869.1 metric tons from gold-backed funds traded mostly in the U.S. and Europe. Much of that metal is ending up in Asia, where companies such as The Brink’s (BCO) Co., UBS AG and Deutsche Bank AG are opening new vaults. China’s expanding wealth has made the country the world’s largest buyer, surpassing India, as imports reached an all-time high.

PAMP Managing Director Mehdi Barkhordar, who credited China’s “insatiable” appetite for a sales boost of as much as 20 percent last year, remains optimistic even as growth in the world’s second-largest economy slows. “The demand in China is off its peak, but still respectable,” he said last week.

To keep up with orders, MKS added shifts at the PAMP refinery, located about 4 miles (6.4 kilometers) from the Italian border, Barkhordar said in November as he showed off a 1-gram gold piece the size of a fingernail. Furnaces that can process more than 450 tons a year were at full capacity from April to June, melting mined metal, scrap jewelry and ingots at 1,000 degrees Celsius (1,832 degrees Fahrenheit) into the higher purities and smaller sizes favored by Asian buyers.

Read more

Gold Rush: Double Bottom or a Flight to Safety?

Jan. 27 (Bloomberg) -- Bloomberg's Olivia Sterns and Bloomberg Tradebook’s Greg Bender put gold futures in focus in "On The Markets" on Bloomberg Television's "In The Loop."

What Does BitInstant CEO's Arrest Mean for Bitcoin?

Jan. 27 (Bloomberg) – Bloomberg’s Carter Dougherty reports on what’s next for the digital currency after Bitcoin Foundation’s Charlie Schrem is charged with drug trafficking. He speaks to Trish Regan and Adam Johnson on Bloomberg Television’s “Street Smart.”

Turkish lira falls to record low

This one reason why gold coin sales in Turkey have hit record levels, as locals divest from the lira and into a stable form of money that will protect their purchasing power.

From Al Jazeera English

 

Jim Willie Reveals the smoking gun on US Gold Rehypothecation

From SilverDoctors

Gerald Celente Bitcoin, Economic Turmoil and Revolution in 2014

From wearechange

Published on Jan 27, 2014

In this video Luke Rudkowski interviews business consultant Gerald Celente on the upcoming future U.S economy and revolutionary trends for 2014. Gerald Celente is an American trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.

Monday, January 27, 2014

Brother JohnF - Silver Update: Global Vampires

From BrotherJohnF

The NSA and the 9/11 Deception

From corbettreport

Tony Blair Citizen's Arrest

From TheLipTV

Taper Time

After my favorite Russian blogger posted pics of her ice swimming it seems The Fed also wants to get in on the fun.

See more of the brilliant photo art of William Banzai7 here

Sunday, January 26, 2014

Rap News is back with "The News"

From thejuicemedia

Published on Jan 25, 2014
 
"The News". It's the most viral meme of reality on the planet: if it's not on "the News" it didn't happen - right? Welcome back to Season 2 of Juice Rap News, in which intrepid anchorman Robert Foster embarks on a new era of adversarial rap journalism by casting a critical eye on the paradigm that shapes our collective reality each night; featuring a smorgasbord of guests, from the stalwart General Baxter and Terence Moonseed having a friendly chat on about the Trans-Pacific Partnership (TPP), to our special correspondents in Russia and the Colonies. Meanwhile, what is going on in Finance, Show­biz and the Weather? Special surprise guests are in tow to cover all this and more, helping Robert delve deeper into this very odd phenomenon of 'The News' itself.

Austrian Mint runs 24/7 to Meet World Gold Coin Demand

From bloomberg.com

Article link

Austria’s mint is running 24 hours a day to meet orders for gold coins, joining counterparts from the U.S. to the U.K. to Australia in reporting accelerating demand boosted by the bear market in bullion.

Austria’s Muenze Oesterreich AG mint hired extra employees and added a third eight-hour shift to the day in a bid to keep up with demand. Purchases of bullion coins at Australia’s Perth Mint rose 20 percent this year through Jan. 20 from a year earlier. Sales by the U.S. Mint are set for the best month since April, when the metal plunged into a bear market.

Read more

SD Metals and Markets: Is the Chinese Version of the Lehman Credit Crunch Imminent?

From SilverDoctors

Saturday, January 25, 2014

Weekend Chillout - Great Southern Land

With tomorrow (26th Jan) being Australia's National Day I thought the Weekend Chillout best be the most Australian song I could think of. Nice aerial pics of Oz in this compilation as well. 

Counting the Cost : Davos 2014: What is at stake?

From Al Jazeera English

Eric Sprott - The Fix is in, but is it Up?

Eric Sprott discusses the recent moves of German regulators investigating London gold and silver fixing and the exit from the fix by Deutsche Bank. Listen to the KWN interview here

The Need for Speed - The Tek

From Tek Syndicate

Friday, January 24, 2014

Mike Maloney - The US Dollar WILL Collapse!

From Cambridge House

Published on Jan 19, 2014

GoldSilver.com's Mike Maloney chats with Cambridge House Live's Bridgitte Anderson about gold, silver and why he believes the US dollar will collapse.

'Fear not, till Birnam wood Do come to Dunsinane'


Peter Schiff - We have a big economic crisis coming

From Cambridge House

Published on Jan 20, 2014

Famous finance commentator Peter Schiff chats with Bridgitte Anderson at Cambridge House Live during the Vancouver Resource Investment Conference 2014. Topics covered include QE, the US dollar and how to prepare for what Mr. Schiff believes is coming.

GATA double play - Bill Murphy and Chris Powell on Market Rigging and Central Banks

From Cambridge House

Published on Jan 20, 2014

Bill Murphy, the chairman of the Gold Anti-Trust Action Committee, chats with Cambridge House Live's Bridgitte Anderson about the recent news that Germany is taking a serious look at potential criminal activities in the gold market.


Published on Jan 20, 2014

Chris Powell from the Gold Anti-Trust Action Committee (GATA) reveals that he's been meeting with several central banks, discussing GATA's documentation on gold manipulation. A must-watch for serious investors!

Ukraine government ready to resign as protests spread across country

From RT

Published on Jan 23, 2014
Rioting has spread to the west of the country - with protesters sieging and breaking into administration buildings. Meanwhile in Kiev, the opposition and the government are now expected to announce the results of their talks. Let's get the latest from RT's Peter Oliver, who is there in the capital.

RT LIVE http://rt.com/on-air

Boom Bust - Steve Keen on private debt and Australia and Bitcoin as an enduring platform

From Boom Bust

Gold spikes on calls for easing of Indian import restrictions

Gold spiked 2% overnight on some technical reversals but more importantly on the back of news out of India that Congress party chief Sonia Gandhi has called for a review of India's import restrictions on gold.


From in.reuters.com

Article link

Congress party chief Sonia Gandhi has asked the government to review tough import restrictions on gold, which include a record 10 percent import duty, a television channel and a news website said on Thursday.

Her intervention is likely to create pressure for an easing of rules that have hammered the bullion industry and brought a surge in smuggling, but the finance minister said the curbs would not be rolled back anytime soon.

India used to be the world's biggest buyer of bullion until the government and central bank stepped in last year with import curbs aimed at reducing a record current-account deficit.

Read more

The Matterhorn Interview 2014 Special: Jim Rickards

From GoldSwitzerland

In this January Matterhorn Interview , Jim Rickards talks to German investigative journalist Last Schall. Jim is the author of bestseller Currency Wars and soon to be released sequel The Death of Money. The brilliant economist, lawyer and entrepreneur Jim Rickards is again at his best in this podcast as he discusses the failure of the Fed, as well as the Fed's suppression of gold. He explains why gold must rise to at least $7,000 - $10,000. Rickards also discusses China's gold purchases and that the people with the most gold will have the most say in regard to a new monetary system.

Jamie Dimon on Bitcoin

Keiser Report: Vassal State of Troika

From RT

Published on Jan 23, 2014

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the fact that a vassal state of the Troika has been listed as number 9 in terms of economic freedom by the Heritage Foundation and Wall Street Journal. With that, they ask what is economic freedom in a neo-liberal, hyper-contractualized and financialized world run by big business, big banks and big bureaucrats. In the second half, Max interviews Payu Harris and his attempt to bring Bitcoin and other cryptocurrencies to the Pine Ridge Indian Reservation in South Dakota. Payu suggests cryptos and the blockchain can offer unbreakable, sacrosanct contracts.

Thursday, January 23, 2014

Ron Paul on Gold and Crypto Currencies



Going Underground: GCHQ

From RT

Published on Jan 20, 2014

Afshin Rattansi goes underground on the government's million-pound relationship with Bahrain, as even royalty head over to show support for its ruling elite. The Campaign Against Arms Trade says our politicians are turning a blind eye to the atrocities in the country to profit from arms deals. Journalist Cory Doctorow says it's time we wake up to the actions of GCHQ - as it's revealed they even spy on your porn and gaming habits. Plus, this week's strangest headlines and how to know you're in a happy place - via Instagram.

WATCH more episodes here: http://www.youtube.com/user/GoingUnde...

Keiser Report: Hand Jive of Fraud

From RT

Published on Jan 21, 2014

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the fact that brokerages and exchanges have been become so packed with fraud, there's hardly room to commit fraud and so the hand jive of bank fraud has been born as brokers front run Fannie Mae and Freddie Mac, defrauding the hapless American taxpayer.

In the second half, Max interviews Sandeep Jaitly of Fekete Research about the gold market.

The Least Affordable Home Markets in the World

Jan. 21 (Bloomberg) -- Hong Kong, Vancouver and Honolulu have the least affordable housing markets across nine nations in the Demographia International Housing Affordability survey. Paul Allen takes a look at housing affordability in Australia on Bloomberg Television's "First Up."

Paul Craig Roberts - U.S. Gold is Gone

From Greg Hunter

SGT Report with Koos Jansen on Germany's Gold

From SGTreport.com

Published on Jan 22, 2014 Writer and researcher Koos Jansen from InGoldWeTrust.ch joins us to talk about the shocking developments at the Shanghai Gold Exchange - and the German gold issues, including the statements from Elke Koenig, the president of Germany's top financial regulator, Bafin who candidly stated last week that "manipulation of precious metals is worse than the Libor-rigging scandal." Koos' site: http://www.ingoldwetrust.ch/

Kiev becomes a war zone: Violent clashes in Ukrainian capital

 My first impression was it is the Visigoths vs a Roman Legion.....with similar resulting violence.


From RT America

The Ever-Disappearing Lunch Hour

Jan. 21 (Bloomberg) –- Robert Half NY Branch Manager Daryl Pagat discusses why nearly half of Americans say their typical lunch hour is a mere 30 minutes. He speaks with Pimm Fox on Bloomberg Television's "Taking Stock.”

Bitcoin Obsession Is Fascinating

Jan. 22 (Bloomberg) -- Lisa Gersh, former CEO at Martha Stewart Living Omnimedia, discusses the allure and mystery surrounding bitcoin on Bloomberg Television’s “In The Loop.”

Gerald Celente on Next News Network

From Gerald Celente

Wednesday, January 22, 2014

Boom Bust - Benn Steil on the Gold Standard

From Boom Bust

Published on Jan 20, 2014

In the wake of the financial crisis that began in 2007, many have pointed a finger at the monetary system for being the ultimate genesis of financial problems that ended in crisis. Benn Steil, economic historian and author of "The Battle of Bretton Woods", takes us from the pre-1914 Gold Standard to today's fiat money dollar standard, highlighting the key issues in 8 minutes flat.

Boom Bust - Peter Schiff on Bernanke's "reckless" policy

From Boom Bust

Published on Jan 17, 2014

Peter Schiff, an investment manager who predicted the 2008 crisis, believes the United States is addicted to debt - moving from one quick fix to the next. At the top of his list of entities enabling this is the Federal Reserve. He talked to Boom Bust about debt, government debt and above all -- the Fed.

"Fear the Boom and Bust" a Hayek vs. Keynes Rap Anthem

I posted this video a few years ago but I just rediscovered it and it is still so topical I thought I would post it again.

From EconStories

Quote of the Week


Bitcoin Myths Exposed! - A Conversation with Erik Voorhees

From Stefan Molyneux

Published on Jan 12, 2014

Bitcoin has several persistent myths about it that just refuse to die. Stefan Molyneux and Erik Voorhees dispel the myths and talk about the reality of the predominant cryptocurrency.

Erik Voorhees is the co-founder of Coinapult, worked as Director of Marketing at BitInstant, and was founder and partial owner of the Bitcoin gambling website SatoshiDice. Follow him on twitter at: https://twitter.com/ErikVoorhees

Do you hold precious metals "ammo" - or empty shell casings?

From silver investor.com

Bottom line of Deutsche Bundesbank gold: The fingerprints are gone

From Jungle drum

Published on Jan 21, 2014 http://www.larsschall.com/2014/01/21/...

Independent German financial journalist Lars Schall talked with Bill Holter, who works for Miles Franklin, a precious metals investment firm in the United States, about the main driver of the price of gold; the current problems of the Bundesbank with "its" gold; and China's heavy buying of physical gold.

Monday, January 20, 2014

Jeff Berwick - The End of the Monetary System As We Know It

From TheDollarVigilante

Published on Jan 17, 2014

Jeff Berwick is interviewed by Kerry Lutz of financialsurvivalnetwork.com on getting your assets out of the US in the face of upcoming capital controls particularly FATCA. Also on the possibility of a global tax suggested by the IMF.

SD Metals & Markets

From SilverDoctors

Sunday, January 19, 2014

Boom Bust - Jim Rickards: The Fed is tapering QE into a recession

From Boom Bust

Published on Jan 14, 2014

Jim Rickards, lawyer, economist, investment banker, is a self-proclaimed gold-vigilante with over three decades of experience working in capital markets. In an interview with Boom Bust, Jim gives us his views on where the economy and monetary system are headed.

Keiser Report: Bitcoin 2.0

From RT

Published on Jan 18, 2014

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss Bitcoin 2.0. The currency application of Bitcoin was version 1.0, now there are dozens of new and innovative ideas riding the blockchain and, in the process, creating Capitalism 2.0.

In the second half, Max interviews Reggie Middleton of BoomBustBlog.com about his own Bitcoin 2.0 application for hedging. Reggie says that if Bitcoin were a car, it would be one which also comes with its own road and which can go faster than any other car on the road and pay no tolls - it is an intelligent currency, unlike dumb fiat.

Paul Craig Roberts - The Hows and Whys of Gold Price Manipulation

By Paul Craig Roberts and Dave Kranzler.

Article link

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.

The Fed’s policy of monetizing one trillion dollars of bonds annually put pressure on the US dollar, the value of which declined in terms of gold. When gold hit $1,900 per ounce in 2011, the Federal Reserve realized that $2,000 per ounce could have a psychological impact that would spread into the dollar’s exchange rate with other currencies, resulting in a run on the dollar as both foreign and domestic holders sold dollars to avoid the fall in value. Once this realization hit, the manipulation of the gold price moved beyond central bank leasing of gold to bullion dealers in order to create an artificial market supply to absorb demand that otherwise would have pushed gold prices higher. The manipulation consists of the Fed using bullion banks as its agents to sell naked gold shorts in the New York Comex futures market. Short selling drives down the gold price, triggers stop-loss orders and margin calls, and scares participants out of the gold trusts. The bullion banks purchase the deserted shares and present them to the trusts for redemption in bullion. The bullion can then be sold in the London physical gold market, where the sales both ratify the lower price that short-selling achieved on the Comex floor and provide a supply of bullion to meet Asian demands for physical gold as opposed to paper claims on gold.

The evidence of gold price manipulation is clear. In this article we present evidence and describe the process. We conclude that ability to manipulate the gold price is disappearing as physical gold moves from New York and London to Asia, leaving the West with paper claims to gold that greatly exceed the available supply.

The primary venue of the Fed’s manipulation activity is the New York Comex exchange, where the world trades gold futures. Each gold futures contract represents one gold 100 ounce bar. The Comex is referred to as a paper gold exchange because of the use of these futures contracts. Although several large global banks are trading members of the Comex, JP Morgan, HSBC and Bank Nova Scotia conduct the majority of the trading volume. Trading of gold (and silver) futures occurs in an auction-style market on the floor of the Comex daily from 8:20 a.m. to 1:30 p.m. New York time. Comex futures trading also occurs on what is known as Globex. Globex is a computerized trading system used for derivatives, currency and futures contracts. It operates continuously except on weekends. Anyone anywhere in the world with access to a computer-based futures trading platform has access to the Globex system.

In addition to the Comex, the Fed also engages in manipulating the price of gold on the far bigger–in terms of total dollar value of trading–London gold market. This market is called the LBMA (London Bullion Marketing Association) market. It is comprised of several large banks who are LMBA market makers known as “bullion banks” (Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorganChase, Merrill Lynch/Bank of America, Mitsui, Societe Generale, Bank of Nova Scotia and UBS). Whereas the Comex is a “paper gold” exchange, the LBMA is the nexus of global physical gold trading and has been for centuries. When large buyers like Central Banks, big investment funds or wealthy private investors want to buy or sell a large amount of physical gold, they do this on the LBMA market.

The Fed’s gold manipulation operation involves exerting forceful downward pressure on the price of gold by selling a massive amount of Comex gold futures, which are dropped like bombs either on the Comex floor during NY trading hours or via the Globex system. A recent example of this occurred on Monday, January 6, 2014. After rallying over $15 in the Asian and European markets, the price of gold suddenly plunged $35 at 10:14 a.m. In a space of less than 60 seconds, more than 12,000 contracts traded – equal to more than 10% of the day’s entire volume during the 23 hour trading period in which which gold futures trade. There was no apparent news or market event that would have triggered the sudden massive increase in Comex futures selling which caused the sudden steep drop in the price of gold. At the same time, no other securities market (other than silver) experienced any unusual price or volume movement. 12,000 contracts represents 1.2 million ounces of gold, an amount that exceeds by a factor of three the total amount of gold in Comex vaults that could be delivered to the buyers of these contracts.

This manipulation by the Fed involves the short-selling of uncovered Comex gold futures. “Uncovered” means that these are contracts that are sold without any underlying physical gold to deliver if the buyer on the other side decides to ask for delivery. This is also known as “naked short selling.” The execution of the manipulative trading is conducted through one of the major gold futures trading banks, such as JPMorganChase, HSBC, and Bank of Nova Scotia. These banks do the actual selling on behalf of the Fed. The manner in which the Fed dumps a large quantity of futures contracts into the market differs from the way in which a bona fide trader looking to sell a big position would operate. The latter would try to work off his position carefully over an extended period of time with the goal of trying to disguise his selling and to disturb the price as little as possible in order to maximize profits or minimize losses. In contrast, the Fed‘s sales telegraph the intent to drive the price lower with no regard for preserving profits or fear or incurring losses, because the goal is to inflict as much damage as possible on the price and intimidate potential buyers.

The Fed also actively manipulates gold via the Globex system. The Globex market is punctuated with periods of “quiet” time in which the trade volume is very low. It is during these periods that the Fed has its agent banks bombard the market with massive quantities of gold futures over a very brief period of time for the purpose of driving the price lower. The banks know that there are very few buyers around during these time periods to absorb the selling. This drives the price lower than if the selling operation occurred when the market is more active.

A primary example of this type of intervention occurred on December 18, 2013, immediately after the FOMC announced its decision to reduce bond purchases by $10 billion monthly beginning in January 2014. With the rest of the trading world closed, including the actual Comex floor trading, a massive amount of Comex gold futures were sold on the Globex computer trading system during one of its least active periods. This selling pushed the price of gold down $23 dollars in the space of two hours. The next wave of futures selling occurred in the overnight period starting at 2:30 a.m. NY time on December 19th. This time of day is one of the least active trading periods during any 23 hour trading day (there’s one hour when gold futures stop trading altogether). Over 4900 gold contracts representing 14.5 tonnes of gold were dumped into the Globex system in a 2-minute period from 2:40-2:41 a.m, resulting in a $24 decline in the price of gold. This wasn’t the end of the selling. Shortly after the Comex floor opened later that morning, another 1,654 contracts were sold followed shortly after by another 2,295 contracts. This represented another 12.2 tonnes of gold. Then at 10:00 a.m. EST, another 2,530 contracts were unloaded on the market followed by an additional 3,482 contracts just six minutes later. These sales represented another 18.7 tonnes of gold.



All together, in 6 minutes during an eight hour period, a total amount of 37.6 tonnes (a “tonne” is a metric ton–about 10% more weight than a US ”ton”) of gold future contracts were sold. The contracts sold during these 6 minutes accounted for 10% of the total volume during that 23 hours period of time. Four-tenths of one percent of the trading day accounted for 10% of the total volume. The gold represented by the futures contracts that were sold during these 6 minutes was a multiple of the amount of physical gold available to Comex for delivery.

The purpose of driving the price of gold down was to prevent the announced reduction in bond purchases (the so-called tapering) from sending the dollar, stock and bond markets down. The markets understand that the liquidity that Quantitative Easing provides is the reason for the high bond and stock prices and understand also that the gains from the rising stock market discourage gold purchases. Previously when the Fed had mentioned that it might reduce bond purchases, the stock market fell and bonds sold off. To neutralize the market scare, the Fed manipulated both gold and stock markets. (See Pam Martens for explanation of the manipulation of the stock market: http://wallstreetonparade.com/2013/12/why-didn’t-the-stock-market-sell-off-on-the-fed’s-taper-announcement/ )

While the manipulation of the gold market has been occurring since the start of the bull market in gold in late 2000, this pattern of rampant manipulative short-selling of futures contracts has been occurring on a more intense basis over the last 2 years, during gold’s price decline from a high of $1900 in September 2011. The attack on gold’s price typically will occur during one of several key points in time during the 23 hour Globex trading period. The most common is right at the open of Comex gold futures trading, which is 8:20 a.m. New York time. To set the tone of trading, the price of gold is usually knocked down when the Comex opens. Here are the other most common times when gold futures are sold during illiquid Globex system time periods:

- 6:00 p.m NY time weekdays, when the Globex system re-opens after closing for an hour;
- 6:00 p.m. Sunday evening NY time when Globex opens for the week;
- 2:30 a.m. NY time, when Shanghai Gold Exchange closes
- 4:00 a.m. NY time, just after the morning gold “fix” on the London gold market (LBMA);
2:00 p.m. NY time any day but especially on Friday, after the Comex floor trading has closed – it’s an illiquid Globex-only session and the rest of the world is still closed.

In addition to selling futures contracts on the Comex exchange in order to drive the price of gold lower, the Fed and its agent bullion banks also intermittently sell large quantities of physical gold in London’s LBMA gold market. The process of buying and selling actual physical gold is more cumbersome and complicated than trading futures contracts. When a large supply of physical gold hits the London market all at once, it forces the market a lot lower than an equivalent amount of futures contracts would. As the availability of large amounts of physical gold is limited, these “physical gold drops” are used carefully and selectively and at times when the intended effect on the market will be most effective.

The primary purpose for short-selling futures contracts on Comex is to protect the dollar’s value from the growing supply of dollars created by the Fed’s policy of Quantitative Easing. The Fed’s use of gold leasing to supply gold to the market in order to reduce the rate of rise in the gold price has drained the Fed’s gold holdings and is creating a shortage in physical gold. Historically most big buyers would leave their gold for safe-keeping in the vaults of the Fed, Bank of England or private bullion banks rather than incur the cost of moving gold to local depositories. However, large purchasers of gold, such as China, now require actual delivery of the gold they buy.

Demands for gold delivery have forced the use of extraordinary and apparently illegal tactics in order to obtain physical gold to settle futures contracts that demand delivery and to be able to deliver bullion purchased on the London market (LBMA). Gold for delivery is obtained from opaque Central Bank gold leasing transactions, from “borrowing” client gold held by the bullion banks like JP Morgan in their LBMA custodial vaults, and by looting the gold trusts, such as GLD, of their gold holdings by purchasing large blocks of shares and redeeming the shares for gold.

Central Bank gold leasing occurs when Central Banks take physical gold they hold in custody and lease it to bullion banks. The banks sell the gold on the London physical gold market. The gold leasing transaction makes available physical gold that can be delivered to buyers in quantities that would not be available at existing prices. The use of gold leasing to manipulate the price of gold became a prevalent practice in the 1990′s. While Central Banks admit to engaging in gold lease transactions, they do not admit to its purpose, which is to moderate rises in the price of gold, although Fed Chairman Alan Greenspan did admit during Congressional testimony on derivatives in 1998 that “Central banks stand ready to lease gold in increasing quantities should the price rise.”

Another method of obtaining bullion for sale or delivery is known as “rehypothecation.” Rehypothecation occurs when a bank or brokerage firm “borrows” client assets being held in custody by banks. Technically, bank/brokerage firm clients sign an agreement when they open an account in which the assets in the account might be pledged for loans, like margin loans. But the banks then take pledged assets and use them for their own purpose rather than the client’s. This is rehypothecation. Although Central Banks fully disclose the practice of leasing gold, banks/brokers do not publicly disclose the details of their rehypothecation activities.

Over the course of the 13-year gold bull market, gold leasing and rehypothecation operations have largely depleted most of the gold in the vaults of the Federal Reserve, Bank of England, European Central Bank and private bullion banks such as JPMorganChase. The depletion of vault gold became a problem when Venezuela was the first country to repatriate all of its gold being held by foreign Central Banks, primarily the Fed and the BOE. Venezuela’s request was provoked by rumors circulating the market that gold was being leased and hypothecated in increasing quantities. About a year later, Germany made a similar request. The Fed refused to honor Germany’s request and, instead, negotiated a seven year timeline in which it would ship back 300 of Germany’s 1500 tonnes. This made it apparent that the Fed did not have the gold it was supposed to be holding for Germany.

Why does the Fed need seven years in which to return 20 percent of Germany’s gold? The answer is that the Fed does not have the gold in its vault to deliver. In 2011 it took four months to return Venezuela’s 160 tonnes of gold. Obviously, the gold was not readily at hand and had to be borrowed, perhaps from unsuspecting private owners who mistakenly believe that their gold is held in trust.

Western central banks have pushed fractional gold reserve banking to the point that they haven’t enough reserves to cover withdrawals. Fractional reserve banking originated when medieval goldsmiths learned that owners of gold stored in their vault seldom withdrew the gold. Instead, those who had gold on deposit circulated paper claims to gold. This allowed goldsmiths to lend gold that they did not have by issuing paper receipts. This is what the Fed has done. The Fed has created paper claims to gold that does not exist in physical form and sold these claims in mass quantities in order to drive down the gold price. The paper claims to gold are a large multiple of the amount of actual gold available for delivery. The Reserve Bank of India reports that the ratio of paper claims to gold exceed the amount of gold available for delivery by 93:1.

Fractional reserve systems break down when too many depositors or holders of paper claims present them for delivery. Breakdown is occurring in the Fed’s fractional bullion operation. In the last few years the Asian markets–specifically and especially the Chinese–are demanding actual physical delivery of the bullion they buy. This has created a sense of urgency among the Fed, Treasury and the bullion banks to utilize any means possible to flush out as many weak holders of gold as possible with orchestrated price declines in order to acquire physical gold that can be delivered to Asian buyers.

The $650 decline in the price of gold since it hit $1900 in September 2011 is the result of a manipulative effort designed both to protect the dollar from Quantitative Easing and to free up enough gold to satisfy Asian demands for delivery of gold purchases.

Around the time of the substantial drop in gold’s price in April, 2013, the Bank of England’s public records showed a 1300 tonne decline in the amount of gold being held in the BOE bullion vaults. This is a fact that has not been denied or reasonably explained by BOE officials despite several published inquiries. This is gold that was being held in custody but not owned by the Bank of England. The truth is that the 1300 tonnes is gold that was required to satisfy delivery demands from the large Asian buyers. It is one thing for the Fed or BOE to sell, lease or rehypothecate gold out of their vault that is being safe-kept knowing the entitled owner likely won’t ask for it anytime soon, but it is another thing altogether to default on a gold delivery to Asians demanding delivery.

Default on delivery of purchased gold would terminate the Federal Reserve’s ability to manipulate the gold price. The entire world would realize that the demand for gold greatly exceeds the supply, and the price of gold would explode upwards. The Federal Reserve would lose control and would have to abandon Quantitative Easing. Otherwise, the exchange value of the US dollar would collapse, bringing to an end US financial hegemony over the world.

Last April, the major takedown in the gold price began with Goldman Sachs issuing a “technical analysis” report with an $850 price target (gold was around $1650 at that time). Goldman Sachs also broadcast to every major brokerage firm and hedge fund in New York that gold was going to drop hard in price and urged brokers to get their clients out of all physical gold holdings and/or shares in physical gold trusts like GLD or CEF. GLD and CEF are trusts that purchase physical gold/silver bullion and issue shares that represent claims on the bullion holdings. The shares are marketed as investments in gold, but represent claims that can only be redeemed in very large blocks of shares, such as 100,000, and perhaps only by bullion banks. GLD is the largest gold ETF (exchange traded firm), but not the only one. The purpose of Goldman Sachs’ announcement was to spur gold sales that would magnify the price effect of the short-selling of futures contracts. Heavy selling of futures contracts drove down the gold price and forced sales of GLD and other ETF shares, which were bought up by the bullion banks and redeemed for gold.

At the beginning of 2013, GLD held 1350 tonnes of gold. By April 12th, when the heavy intervention operation began, GLD held 1,154 tonnes. After the series of successive raids in April, the removal of gold from GLD accelerated and currently there are 793 tonnes left in the trust. In a little more than one year, more than 41% of the gold bars held by GLD were removed – most of that after the mid-April intervention operation.

In addition, the Bank of England made its gold available for purchase by the bullion banks in order to add to the ability to deliver gold to Asian purchasers.

The financial media, which is used to discredit gold as a safe haven from the printing of fiat currencies, claims that the decline in GLD’s physical gold is an indication that the public is rejecting gold as an investment. In fact, the manipulation of the gold price downward is being done systematically in order to coerce holders of GLD to unload their shares. This enables the bullion banks to accumulate the amount of shares required to redeem gold from the GLD Trust and ship that gold to Asia in order to meet the enormous delivery demands. For example, in the event described above on January 6th, 14% of GLD’s total volume for the day traded in a 1-minute period starting at 10:14 a.m. The total volume on the day for GLD was almost 35% higher than the average trading volume in GLD over the previous ten trading days.

Before 2013, the amount of gold in the GLD vault was one of the largest stockpiles of gold in the world. The swift decline in GLD’s gold inventory is the most glaring indicator of the growing shortage of physical gold supply that can be delivered to the Asian market and other large physical gold buyers. The more the price of gold is driven down in the Western paper gold market, the higher the demand for physical bullion in Asian markets. In addition, several smaller physical gold ETFs have experienced substantial gold withdrawals. Including the more than 100 tonnes of gold that has disappeared from the Comex vaults in the last year, well over 1,000 tonnes of gold has been removed from the various ETFs and bank custodial vaults in the last year. Furthermore, there is no telling how much gold that is kept in bullion bank private vaults on behalf of wealthy investors has been rehypothecated. All of this gold was removed in order to avoid defaulting on delivery demands being imposed by Asian commercial, investment and sovereign gold buyers.

The Federal Reserve seems to be trapped. The Fed is creating approximately 1,000 billion new US dollars annually in order to support the prices of debt related derivatives on the books of the few banks that have been declared to be “to big to fail” and in order to finance the large federal budget deficit that is now too large to be financed by the recycling of Chinese and OPEC trade surpluses into US Treasury debt. The problem with Quantitative Easing is that the annual creation of an enormous supply of new dollars is raising questions among American and foreign holders of vast amounts of US dollar-denominated financial instruments. They see their dollar holdings being diluted by the creation of new dollars that are not the result of an increase in wealth or GDP and for which there is no demand.

Quantitative Easing is a threat to the dollar’s exchange value. The Federal Reserve, fearful that the falling value of the dollar in terms of gold would spread into the currency markets and depreciate the dollar, decided to employ more extreme methods of gold price manipulation.
When gold hit $1,900, the Federal Reserve panicked. The manipulation of the gold price became more intense. It became more imperative to drive down the price, but the lower price resulted in higher Asian demand for which scant supplies of gold were available to meet.

Having created more paper gold claims than there is gold to satisfy, the Fed has used its dependent bullion banks to loot the gold exchange traded funds (ETFs) of gold in order to avoid default on Asian deliveries. Default would collapse the fractional bullion system that allows the Fed to drive down the gold price and protect the dollar from QE.

What we are witnessing is our central bank pulling out all stops on integrity and lawfulness in order to serve a small handful of banks that financial deregulation allowed to become “too big to fail” at the expense of our economy and our currency. When the Fed runs out of gold to borrow, to rehypothecate, and to loot from ETFs, the Fed will have to abandon QE or the US dollar will collapse and with it Washington’s power to exercise hegemony over the world.

Dave Kranzler traded high yield bonds for Bankers Trust for a decade. As a co-founder and principal of Golden Returns Capital LLC, he manages the Precious Metals Opportunity Fund.

Senator Bernie Sanders "Virtually EVERY Phone Call Made In This Country Is Kept On File!"

Gee Bernie tell us something we haven't known for several years.

From MOXNEWSd0tC0M

Saturday, January 18, 2014

Deutsche Bank quits Gold and Silver London Fix

It seems German regulators have finally realized the Fix is in and they want their bank out of the cesspit that is the City of London.

Note with DB out of the silver fixing game that only leaves two banks, HSBC and Bank of Nova Scotia-ScotiaMocatta as the daily silver fixers. 

From Reuters.com

Article link

LONDON, Jan 17 (Reuters) - Deutsche Bank will withdraw from gold and silver benchmark price setting, it said on Friday, as European regulators investigate suspected manipulation of precious metals prices by banks.

Germany's largest bank and some of its rivals are taking a battering over a series of other scandals and inquiries regarding manipulation of interest rates and foreign exchange.

On Wednesday, global investigations into alleged currency market manipulation intensified as U.S. regulators descended on Citigroup's London offices and Deutsche suspended several traders in New York, sources told Reuters.

Read more

Egon von Greyerz - “Physical Gold, the Safest Asset in an Unsafe World”

From GoldSwitzerland

A video presentation by Egon von Greyerz, Matterhorn Asset Management / GoldSwitzerland, Zurich.

"In this presentation Egon initially explains why we are at the end of a major era. He discusses the demise of the dollar and other currencies as well as the coming 90% fall of stock markets versus gold. He presents some very interesting graphs showing why US debt can never by repaid. Egon also explains why risk is greater than ever and that the likely consequences will be QE to infinity and a depressionary hyperinflation. Finally he covers 'how not to' invest in gold and 'how to' invest."

Weekend Chillout - Please come back

With all the news this week of the failure of the NY Fed to repatriate the same gold bars the Germans stored many decades ago, see here, here and here. It makes one wonder if the Germans will ever get back the 300 tonnes of gold they have asked to be returned, let alone the 1,536 tonnes of their gold in total meant to be stored in this vault:


Friday, January 17, 2014

Glenn Beck produces a stunning report on the German Gold story even an American could understand

Precious Metal Rigging Worse Than Libor, Bafin’s Koenig Says

From bloomberg.com

Article link

Germany’s top financial regulator said possible manipulation of currency rates and prices for precious metals is worse than the Libor-rigging scandal, which has already led to fines of about $6 billion.

The allegations about the currency and precious metals markets are “particularly serious, because such reference values are based -- unlike Libor and Euribor -- typically on transactions in liquid markets and not on estimates of the banks,” Elke Koenig, the president of Bafin, said in a speech in Frankfurt yesterday.

Read more

Keiser Report: Pimping USA

From RT

Published on Jan 16, 2014

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the pimps from the Pacific Northwest of America who claim to have no idea just how dangerous their products are to innocent bystanders - like the backdoors in Skype which are dangerous weapons against Constitutional rights or the holes in the internet which leave it vulnerable to malware that turns users into bitcoin slaves. In the second half, Max interviews Arjen Kamphuis about tinfoil as the new black and intelligence agency click fraud as the new payment system for co-operation with corporate and industrial espionage.

Thursday, January 16, 2014

Overstock.com CEO attacks Krugman: “Hopefully Bitcoin will destroy central banking”

Overstock.com CEO Patrick Byrne discusses Bitcoin and the fears of central planning economist Paul Krugman who claims Bitcoin is evil.

Byrne says “Krugman did some great work before he went crazy” he then goes on to explain his hope that Bitcoin can destroy central banking.

Paul Krugman's article can be read here

Jim Willie -This Year's Currency Explosion

From Greg Hunter

Published on Jan 12, 2014

Dr. Jim Willie, Editor of the Hat Trick Letter, predicts, "This is the year we have the currency explosion." Don't think Obama Care is going to make things easier. Dr. Willie thinks, "It will be 100 times the nightmare than you think it might be. . . . Obama Care is a big plan to track people, both their money and their bodies, like a bunch of herded animals. This is going to manage death of the individual and manage death of the economy." Join Greg Hunter as he goes One-on-One with Dr. Jim Willie of GoldenJackass.com

Australian Dollar falls on the back of bad jobs numbers

 From smh.com.au

The Australian dollar fell almost a cent to a 3½-year low of 88.09 US cents after the data was released.

"[The] disappointing jobs growth reflects how businesses have been slow to respond to RBA rate cuts," Moody's Analytics associate economist Katrina Ell said.

"The unemployment rate doesn't adequately capture weakness in the labour market due to outsized growth in part-time positions and falling participation. Unless the Australian dollar falls further the RBA will be forced off the sidelines."

Read more: http://www.smh.com.au/business/the-economy/economy-sheds-more-than-30000-fulltime-jobs-20140116-30w6a.html#ixzz2qWONmY4C

Chart from xe.com

Australian Employers Unexpectedly Reduced Workers

Jan. 16 (Bloomberg) -- Australian employers unexpectedly cut payrolls in December, reviving the prospect of further interest-rate reductions as mining investment wanes. Paul Allen reports on Bloomberg Television's "First Up."

Marc Faber discusses Bitcoin and Gigantic Asset Bubbles

Jan. 14 (Bloomberg) -- Marc Faber, publisher of the Gloom, Boom & Doom report, talks about the impact of Federal Reserve policy on the global economy, Bitcoin and financial markets. He speaks with Trish Regan and Adam Johnson on Bloomberg Television's "Street Smart."

Big precious metals themes for 2014

Nic Brown of Natixis looks at some of the big themes likely to be seen in the gold market over 2014 and explains why he is a big fan of platinum. Listen to the Mineweb interview here

Nigel Farage - The hand that rocked the cradle of democracy

From ukipwebmaster

Wednesday, January 15, 2014

Paul Craig Roberts: If the Currency Collapses & You Try to Flee Into Gold,There Won't Be Any

From Greg Hunter

Published on Jan 8, 2014

http://usawatchdog.com/dr-paul-craig-... - Former Assistant Treasury Secretary Dr. Paul Craig Roberts says, "The West is draining itself of physical bullion. . . If there is a currency collapses and you try to flee into gold, there won't be any there. The Chinese will have it." So, is this the year gold and silver stage a big turnaround? Roberts says, "It's gone on longer than I thought it could go on. I didn't realize all the deceptive and crooked methods they would use to rig the markets. The notion that a democratic capitalist country having its markets rigged by its own authorities--it blows the mind. This is not normal. What will they do next? I don't know." Join Greg Hunter as he goes One-on-One with economist Dr. Paul Craig Roberts.

SGTReport with David Morgan

From SGTreport.com

Published on Jan 12, 2014 David Morgan of silver-investor.com joins us to talk about flash crashes in silver and gold, the Comex nearing default and the outlook for precious metals in 2014 which David thinks could yield as much as a 50% return for Ag.

David notes that a lot of people think that the New World Order is a fait accompli, and that the Anglo-American access which is basically the London-New York consortium have it locked up, but "it's anything but true." David says, "There is an economic WAR going on between China and Russia and some of the BRICS and as corny as it sounds, he who has the gold makes the rules... so this thing is anything but settled."

Too Little Too Late? Hollande U-turns as France pays heavy price for sky-high taxes

From RT

Published on Jan 14, 2014

As if the French President didn't have enough on his mind this week over his alleged affair with an actress. There are domestic problems of a more official nature he's got to answer for, if he's to keep his new year's resolution to revive the country's debt-heavy, sluggish economy.

Keiser Report: Shrinkflation

From RT

Published on Jan 14, 2014

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the moral sink estate that is the City of London where dealers sell debt crack on street corners and many old ladies have their pensions stolen. They also discuss the corruption of the leveraged buyout whereby now whole nations are stolen using the nation's own assets and resources as collateral and now, with the TPP deal, the globe is about to be taken for cheap. In the second half, Max interviews investment adviser, Pippa Malmgren, a politics and policy expert who used to be Special Assistant to the President of the United States for Economic Policy on the National Economic Council and former member of the US President's Working Group on Financial Markets. They discuss 'shrinkflation,' inflation and the Plunge Protection team.

William Kaye - Gold to $3,000 Silver to $100 in next 18 months

William Kaye, Managing Partner of the Greater Asian Hedge Fund, discusses US economic conditions, the immense Chinese gold demand, and the lack of gold repatriated to Germany from the NY Fed and his price predictions for gold and silver in the coming 12-18 months. Listen to the KWN interview here

Tuesday, January 14, 2014

Jim Rogers Says He's Hedged Some Gold But Not Selling

Jan. 13 (Bloomberg) -- Jim Rogers, chairman of Rogers Holdings, discusses the U.S. economy, Federal Reserve Chairman Ben S. Bernanke and his investment strategy for China and gold. He speaks with Anna Edwards and Mark Barton on Bloomberg Television's "Countdown."

Gold to see bottom building process

Mon 13 Jan 14
 
Juerg Kiener, MD & CIO at Swiss Asia Capital, explains what's behind the beginning-of-the-year rally in gold prices.
 

Breaking The Set

From breakingtheset

Published on Jan 13, 2014

Abby Martin Breaks the Set on Aaron Swartz's Death, Eradicating Polio, W. Virginia's Chemical Disaster, Wikipedia Revisionism, and Whitewashing Ariel Sharon's legacy.