Stacy Summary: Good morning. Here are some headlines that caught my eye first thing. Time now to go read through those 200+ comments.
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ref. max keiser & Get 6 mo’s free storage
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Rick Ackerman-
- King World News
- Mish
- Karl Denninger – Market Ticker
- An error has occurred; the feed is probably down. Try again later.
- Michael Hudson
- ZeroHedge
- The Big Picture
crash banksters – Buy Silver & gold
![[Most Recent Quotes from www.kitco.com]](http://www.weblinks247.com/indexes/idx24_usd_en_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/platinum/t24_pt_en_usoz_2.gif)
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Most recent: 
Gold remains under complete control….until the comex crashes and their is a frantic rush for physical.
Gold will hang around a thousand until after the G20 meeting because the entity controlling its price want it to be there,….and then after the meeting….gold will be surpressed again to below 950ish.
People do not comprehend the depth of power over all aspects of the financial system that they have.
Keep in mind all the following as fact.
If they want any of these to go up or down in price for whatever reason…they have the abilitly to do so…with ease.
Oil
Gold and Silver
US stock market and others
Interest rates
Currencies
And countless other aspect of money.
In other words……virtually every aspect of control over “money” is controlled or greatly (hugely) influenced by the people controlling the money supply with the whole hearted assistance of the elite United States Government..
If you deny any of these facts…..
You would be either unaware of the OVERWHELMING EVIDENCE available on the non propoganda network of the internet or in complete denial.
@Rebecca: whoa ponies…..not so fast…the (PPT) or the President’s Working Group on Financial Markets is still very active in the suppression of gold prices….Review C.A. Fitts website http://www.solari.com archive per “slow burn”…there are several more elections yet to take place( Ireland, England, USA 2010) before any seismic eruptions in a volcanic rise in gold prices comes into focus…Barrick is covering it’s bets today…others may also require a similar action in the future….BTW there is a productive gold mine available in Columbia for sale…interested????
@Richard@lattitude30N: I see, I see… I wonder how high it may zoom next week as I suspect the manipulators have lost their muse to keep the inflation under its control. aka…the jig is up…
@frances some story…smart people but too cult like for me..doesn’t mean it won’t come true but way over my head…interesting..thanks.
Dante:
I don’t think it’s written in stone, unless you consider the Georgia Guildstones!
http://www.wired.com/science/discoveries/magazine/17-05/ff_guidestones
I do think that the group that commissioned the stones is the group behind the screen.
It’s odd how the myths and stories seem to promote one outcome. My motto as always: live free or die.
@Frances…your not unpleasant but the prospect of digits are!
If you think things are corrupt now…forget about the levels of corruption under your scenario…the digit providers will be like king makers (as if the central banks/regulators don’t play that role now)…that will be a terrible outcome for everyone!
I think that the fate of the economy still depends most on jobs and the consumer, and since there is no catalyst for employment growth in the US, and so many people will be exhausting their unemployment benefits soon, the Fed is going to choose to print more money to try to prevent deflation. In my view one of the few ways for the average person to protect her or his wealth from all the taxpayer funded bailouts is to invest in the area that should benefit most from the money printing, which is gold. There are some articles at http://www.goldalert.com/ that further discuss the govt bailout attempts and potential effects on the gold price and the dollar.
IT won’t be pleasant, and apologies if I’m unpleasant, but I think dialogue is good.
And what would be the new system? digits? And they would control who received the digits? Sounds like he’s pushing for total control.
@Dante:
Yes, digits or units. Dedo had a good point about carbon credits. I think the blokes are going to step from behind the screen as well.
I won’t be pleasant unfortunately.
@DanII:
Isn’t gold and fiat currency an inverse relationship? Did the price of bread in the Wiemar republic go to zero?
The point I was trying to make (which I guess I did badly) is that it is a biased reading if one comes at this subject dependent on old understanding about currency value. I don’t think the Greenspan was indicating that the move away from paper money was a result of inflation fears, which if indicated would be bullish for gold (fleeing dollars for inflation) but that the move was AWAY from paper money. The people in charge of the money can make that move and there really isn’t anything anyone can do about it except storm the Bastille.
If paper currency ceases to be a store of value, then the valuation of gold will be called into question.
Your point about bread is well spoken: it would do us well to prepare to be self-sufficient.
Insiders sell like there’s no tomorrow http://tinyurl.com/lca38y
Japan aims to cut off music piracy: Every mobile phone in Japan might be installed with software to block illega.. http://bit.ly/C1tkB
@Mr Supergeek – Thank you.
Your loss… is well…. some bankers party?
Wells Fargo exec used Malibu Colony home lost by Madoff-duped couple, neighbors say
A top bank executive was seen spending weekends and hosting parties in the $12-million beach house. The bank says it will ‘conduct a thorough investigation of the allegations’ by neighbors.
http://www.latimes.com/business/la-fi-malibu-wells11-2009sep11,0,740504.story
In remembrance of 911 pictures not seen much around on the Internet (911 Pyroclastic flow:) http://tinyurl.com/ddlrpz
@Phil..if the Chinese renege on the derivatives what happens to the dollar offset that usually occurs when a derivative is unwound?
If they go null and void does the currency hedge go null and void too? therefore less dollar demand?
In memory of 911 and hoping that both the victims and perpetrators get the justice they deserve.
http://www.wanttoknow.info/officialsquestion911commissionreport
@frances……..Or would that be colourful?
Yes frances……………the above spelling is correct!!
Discours “majeur” d’Obama sur la crise financière lundi
http://jessescrossroadscafe.blogspot.com/2009/09/obama-to-make-major-address-on.html
“MAJOR” ? … or “major” ?
US$ devaluation is unlikely IMO !
.. although many people are speculating.
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Bob Chapman: Implications of the Chinese Reneging on Derivatives Contracts on Precious Metal
http://socioecohistory.wordpress.com/2009/09/10/bob-chapman-implications-of-the-chinese-reneging-on-derivatives-contracts-on-precious-metal/
@frances . . . “Moving away from paper currencies would indicate the gold would share the same fate as that of paper currencies: a move to zero.”
Isn’t gold and fiat currency an inverse relationship? Did the price of bread in the Wiemar republic go to zero?
@Mr Supergeek
It seems that you are trying to take over the “Dr. Doom” title.
@youri
Doh!….so I just got you to look at those weak photo’s from dan…sorry dan but they are.
@Youri,…….so that’s the pink room!!!
@Dan
Good stuff! Put my stuff nxt to it ahaaahhaa!
need a laugh? Obama laughs http://tinyurl.com/n93pz9
@Gold // Coiled Spring? Hold on to your seats!
A very good read here .. recommend to read it :
http://www.investorvillage.com/iv2/smbd.asp?mb=144&mn=30100&pt=msg&mid=7891511
@FranSix:
Since when was a commodity pegged to an ideology?
http://rlv.zcache.com/patriot_hat_gold-p148019500704082394qz14_400.jpg
@FranSix:
Whose the new kid on the forex block?
http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/Business/21-Jul-2009/IMF-seeks-to-inject-250b-into-members-forex-reserves
@Youri:
“Greenspan is a snooting chump loser talking nonsense.”
Yes, he surely doesn’t have a vested interest in anything.
Will This Gold Rush Continue? http://seekingalpha.com/c/eep8
Loss of focus, fsnoot.
Currency devaluation is a monetary phenomenon. Gold maintaining its purchasing power relative to or over and above all other commodities is not.
Gold has one foot in the foreign exchange and one foot in the commodities.
F6
@myking
just scroll down check the pitch, you gotta admit it’s a doozie…even if I say so myself!
And not to understate the hypocrisy and ineptitude of all the people that are held in high regard…but this mutt greenscam (not to disparage dogs) was instrumental in getting charles keating’s (Lincoln S&L) application for increased direct investments approved. He also wrote the California banking regulators letters that the bank (lincoln) was seasoned and expert.
http://en.wikipedia.org/wiki/Lincoln_Savings_and_Loan_Association
He was paid $40000. Feb 13, 1985.
He then goes on to become Fed Chairman.
You can read more in
Bank Robbery by Mayer
and
Devil Takes Hindmost by Chancellor
@frances
I think this is a good pitch!
http://maxkeiser.ning.com/forum/topics/need-a-laugh
@frances snoot
Greenspan is a snooting chump loser talking nonsense.
@Phil “Zeitgeist & AJ etc. being 50% BS”
I didn’t say that. I said Zeigeist is 5o% BS and I commend AJ cause all he says is 100% back uped by documents.
@Mini US “Hmmmm. First time for a while that London open hasn’t smacked Gold down.”
Yesterday I wrot on Zero “This could be an interesting game between gold suppressors and China the gold buyer.” http://tinyurl.com/n4xt7o
But maybe the gold suppressors are on to this game and let it flow higher now?
Anyway, Stacy, haven’t I admitted I’m an economic illiterate?
@Stacy:
Doesn’t the photo reveal a stunning resemblance though?
@Stacy:
No sh*t Sherlock!
@frances snoot – you’re a troublemaker!
Look! A picture of old CapLocks!
http://scienceblogs.com/aardvarchaeology/upload/2007/01/TypingMonkeyLarge.jpg
history is on its side…
Dante. history is not on our side.
@frances snoot why would you quote Greenscam when he is the antithesis of clarity?
Dante: LOL!
You are right! How delightfully cryptic he is: but he also traveled to Basel ten times a year and sat with the insiders:
For example the former head of the Federal Reserve, Alan Greenspan, would go to the BIS headquarters in Basel, Switzerland, ten times a year for these private meetings. (Tower of Basel’s post)
My speculation is that Greenspan is only stating the obvious.
@frances snoot
“What is fascinating is the extent to which gold still holds reign over the financial system as the ultimate source of payment,” Greenspan said.
It holds reign because it can not be conjured up at their whim…its an equalizer…history is on its side….the printing press is their franchise….gold represents what they do not have..
Greenscam speaks out of so many sides of his mouth that at times he utters words that resemble the truth…like a million monkeys typing…one of them will rewrite Shakespeare…doesn’t make the monkey Shakespeare.
Derivatives Collapse and the China Gold and Silver Markets http://tinyurl.com/ljkdom
@mep
I aint much on pretty words or flowery sentiments…but ahh shucks mep…I missed ya’ll.
Greenspan concludes:
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.
This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
###
Alan Greenspan
[written in 1966]
http://www.321gold.com/fed/greenspan/1966.html
Its a basic logical fallacy to value gold at zero.
@FranSix:
I didn’t say that: I speculated:
Moving away from paper currencies would indicate the gold would share the same fate as that of paper currencies: a move to zero.
As Mike King said: I’m behind the curve. I’m leaning toward a derivative value moving toward zero.
Like when you flush the toilet: there’s still a little sh*t clinging to the sides of the tank.
Gold and Economic Freedom
by Alan Greenspan
[written in 1966]
This article originally appeared in a newsletter: The Objectivist published in 1966 and was reprinted in Ayn Rand’s Capitalism: The Unknown Ideal
An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense – perhaps more clearly and subtly than many consistent defenders of laissez-faire – that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-faire and that each implies and requires the other.
more-
http://www.321gold.com/fed/greenspan/1966.html
Bank Of China Representative: “The Real Economic Crisis Is Just Starting” http://tinyurl.com/kpvvvd
@Dante:
I’m not an economist. I’m a reader. So I analyze words, not the markets.
What is strange is that the words of Greenspan are being immediately spun to resemble the old web. The spider moved shop. The Federal Reserve is no longer at the center (of the central banks, not referring here to the hub bank BIS).
Where is the spider now and what venom will it use to paralyze men?
Greenspan also said this:
“What is fascinating is the extent to which gold still holds reign over the financial system as the ultimate source of payment,” Greenspan said.
He’s right.
How do we know how much of what we read is digested by our minds through reference to memes (The Chinaman), rhetoric (rumours falsely represented as truth), and fraud.
We know JP Morgan Chase has fraudulently sold municipal bonds and bankrupted municipalities in US and Italy. Yet, JP Morgan Chase is bailing out California’s muni bond market!!!
Any news coming from a source that is vested in gold sales, is promoting a diversion from probes into banking fraud, is pooh-poohing sdr manipulation in the market SHOULD BE DISCARDED.
The suit does belie the wearer as one who wished to influence through rhetoric.
I was flipping through channels last night and came across a program that simply said “Geithner.” Turned it on and saw part of the town hall . I have to say that something about it disturbed me. It was almost as if I was watching a reality-TV Treasury Secretary selling propaganda to the CNBC-crowd–whose brains work like market tickers.
@frances snoot
Its a basic logical fallacy to value gold at zero.
iTulip.com Gold Myths Cheat Sheet
D. Is money (In order to qualify as money gold must act as both a store of value and means of exchange. We use cigarettes in a prison as an example. You must convert gold to dollars before you can make purchases in the U.S. so gold only meets the first criteria. Gold is a currency. We call it the Fourth Currency because it competes with the dollar, euro, and yen in international currency markets.)
http://www.itulip.com/forums/showthread.php?p=121715#post121715
@Phil…you sure are right..Denninger sweats the small stuff….zip code address changes….years ago I used to send all my bills by USPS priority mail confirmation delivery posted….now I use the Bill Pay add on to my checking account.
@frances snoot why would you quote Greenscam when he is the antithesis of clarity?
And what would be the new system? digits? And they would control who received the digits? Sounds like he’s pushing for total control.
@FranSix:
Here is another site relying on the same bias that Willie did:
Bloomberg reported that Greenspan said in a speech that gold’s rally to $1,000 an ounce is “an indication of a very early stage of an endeavor to move away from paper currencies.”
Another way of saying the same thing is: inflation. When investors “move away” from currencies, it’s because they fear those currencies will lose their purchasing power. They fear inflation.
http://www.smartmoney.com/investing/economy/inflations-early-indicator/
Another way of interpreting, not saying, Mr. Greenspan’s comment is a move to gold as an inflation hedge against the flight from paper money.
It is the fatal flawed bias that stands behind the blindness of the investors and the press. IMO the new system is not to be balanced upon the value of paper money. The value of assets will be called into question. This I believe was behind Greenspan’s statement:
The gains are “strictly a monetary phenomenon”.
@fransix…I agree with that but why do you think the china story is a side show ? If GATA is correct they have been surreptitious buyers…if they value gold as a store of true wealth then their demographics will force price discovery..
@All … MUST read !
This has to be the final proof of “Bank Robbery” by the banks themselves :
The Bank Games That Jack You
http://market-ticker.denninger.net/archives/1424-The-Bank-Games-That-Jack-You.html
I suppose their “Computer” made a mistake while printing the number !
ROTFLMAO !
More importantly as we sit on the 1100 am price curfew for gold, we should understand that rather than attributing the gold price advance to a rather doubtful rumour abut foreign buying of bullion to its price rise, there are far bigger obligations right here on the continent that would move the price much further.
@FranSix:
If the value of paper assets is relative to gold, then wouldn’t the value of gold collapse with the value of paper money? I’m not talking inflation:
” Greenspan admitted that the gold price gains are strictly a monetary phenomenon in his words, which should send shivers through central banker spines.”
Willie says the Greenspan’s words should send shivers through central banker’s spines. Why? Because gold price gains are a MONETARY phenomenon.
Willie here allows reader bias to translate meaning: inflation would result in a higher price for gold as the dollar devalues.
But if one looks at Greenspan’s comment objectively and in context, the meaning is different:
The gains are “strictly a monetary phenomenon,” Greenspan said today at an investment conference in New York. Rising prices of precious metals and other commodities are “an indication of a very early stage of an endeavor to move away from paper currencies,” he said.
Moving away from paper currencies would indicate the gold would share the same fate as that of paper currencies: a move to zero. What ties gold to anything of value except the old system?
@Phil: ” lawyer”….thanx for the support…even though I am a certified paralegal
@Rebecca: Yes if you examine the 24 hour chart, you will notice that gold transgresses the $1010 mark when it is trading in Hong Kong overnight
A little distraction from serious events …
“Family Values” Lawmaker Resigns After Talking Sex On Open Mic
http://www.youtube.com/watch?v=3YoIWdenKiU
Gold is up over $1000 today, as I’ve seen it go to $1010 an ounce. I realize spot price means nothing in the physical market, because the comex has been manipulated so badly that it cries for a correction. I’m so glad physical gold and silver were still available in Canada during the crash of the markets in October 2008! I realize I’m preaching to the choir in this forum, so good luck to all & gold bless.
More importantly as we sit on the 1100 am price curfew for gold, we should understand that rather than attributing the gold price advance to a rather doubtful rumour abut foreign buying of bullion to its price rise, there are far bigger obligations right here on the continent that would move the price much further.
What is accumulating, and has been accumulating over the last 8 years and bears repeating is that there is no way out for the bullion banks. They can ditch their miner cronies and force them into a corner, but the upshot is that a panic into gold will make price discovery a reality.
Barrick is in a corner looking to settle their swap obligations, but nothing prevents them from taking delivery off the markets to settle their hedges. Very likely everyone with some sort of physical gold obligation off their balance sheets will follow suit.
What does a run on the bullion bank look like? You’re seeing it right now. Concentrating on China is a loss of focus, imo.
F6
@Yawl
maybe we need a new phrase….for a complete waste of time, a put on, a load of bollox, untrustworthy or a piss take…you know something like ‘more fake than a charlie sheen interview’ or maybe…. when someone is trying to push your buttons and mess with your mind ‘doin an alex jones’….yeah, yeah best suited to people who are always threatening to do something but only really like to scream at you and try to hijack your emotions so you end up bleeding form the nose like them.
Does anyone believe in sinchronicity?I don’t know if I was the only one here who noticed but when BBC World was reporting on the Geithner story there was a cockroach shaped insect crawling accross the studio camera’s lens.
Yesterday at 17:08 GMT blonde lady journalist reporting from the washington studio. If anyone can find that clip it’s good for a laugh.
http://www.marketoracle.co.uk/Article13370.html
Prechter…
@FranSix…no parade…just try to make sense.
The gold bug’s new best friend – the Chinese government
http://www.moneyweek.com/investments/precious-metals-and-gems/investing-in-gold-chinas-boost-to-the-gold-price-93711.aspx
My Brother in law from the UK just sent me this .
Contents :
Hong Kong is taking delivery of its gold
Why the Chinese government is telling its people to buy gold
$1,000 an ounce is just the start
@Richard@lattitude30N … better than being called a “lawyer” !
@Dedo: me?? a singing judge??? you jest
@marietta … “What the hell are they doing that for?”
Little boys with their shiny Rambo toys !
@SG .. No .. Sheen wasn’t mentioned.
I guess the Doc was completed / filmed months ago.
@phil
re:vox sounds good any charlie sheen?
There is a training exercise in the Potomac today on 9/11?
the coast guard just fired on a boat. What the hell are they doing that for?
First story that broke:
http://www.dailymail.co.uk/news/worldnews/article-1212792/U-S-Coast-Guard-fires-suspicious-boat-Washington-DCs-Potomac-River.html
Update:
http://www.foxnews.com/politics/2009/09/11/coast-guarg-fires-boat-potomac-river/
Or would that be colourful?
@Dedo:
I’m sure that Sharon has a nicer coat, she’s seems rather more colorful?
@Dedo … LOL .. thanks , enjoyed that !
Those were days of good old British humour … not the rubbish they do these days on TV !
@Supergeek … did I repeat myself again ?
@Supergeek … did I repeat myself again ?
@Supergeek … did I repeat myself again ?
@Supergeek … did I repeat myself again ?
@sharon … I lived across the road from the Hotel they used in Fawlty Towers … Bourne End, Bucks !
( not while they filming it .. was rather young then )
Stacy, you’ve probably seen it already, but just in case you haven’t – this will be music to yours and Max’s ears:
http://www.bloomberg.com/apps/news?pid=20601083&sid=acrGvxBXPDfk
Judge: Richard
Lawyer: Phil
First defendant: Frances
Second: Sharon
Third: Mike
Forth: Mother
CID Dim: Youri,………..lol
http://www.youtube.com/watch?v=XawAhUn9mZY
@phil
re:vox..sounds like it was good any..charlie sheen?..did I ask already…lot of repitition creeping in lately….senility is a real creeper next thing you know you are signing your name twice.
Mr Supergeek.
There was an old man of Dumbree,
Who taught little owls to drink tea;
For he said, ‘To eat mice,
Is not proper or nice’
That amiable man of Dumbree.
Edward Lear
There once was a seller of gold
Searched rational reason untold
Gave up for a song
A yarn quite as long
As the end of TimGeinthner’s long nose
Snoots
@frances …. NYT : Feb 28th. 1878 !
Nice !
Good Patriots: buy gold or else look out for Weeked Chinaman:
http://cache.gawker.com/assets/images/gawker/2008/08/chinaman_01.jpeg
He is laughing at America! He no believe in 911!
Hee weeeked.
WE only safe in gold.
“China is cutting deals with the I.M.F. to secure central bank gold in huge blocks, much like geopolitical horse trading amidst grand power shifts for global control. If the West wishes to enjoy the benefits of Chinese credit supply, then China must be given much of what it demands…” Jim Willie
Yes, Beware wicked Chinaman steeeal from you unless you geeet gold. I seeee Chinaman in paper:
http://query.nytimes.com/mem/archive-free/pdf?_r=1&res=9D01EEDF143EE73BBC4051DFB4668383669FDE
Gold & PMs – Seasonal Charts for anyone interested :
http://www.seasonalcharts.com/classics_gold.html
Also does ..
Metals
Energy
Farm Products
Currencies
Interest
@Fibon11235 – no we were not told to take them down; there is a bug from a wordpress plug in called simplepie that has caused problems for me on the backend in terms of posting any rss feeds; I am trying to sort it out but rest assured the lizards are not involved
@Phil
Not any more look at the charts
Chinese begin to gorge themselves on gold for future consumption of its own production.
They will be rich soon
We got the TRUSTED Premium Custom Suits and a paper promise lol
@Phil Not any more look at the charts
wow
Chinese begin to gorge themselves on gold for future consumption of its own production.
They will be rich soon
We got the TRUSTED Premium Custom Suits and a paper promise lol
@ Stacy and Max
where is your little charts on your web site from 321Gold and the Dollar?
Were you told to take them off as things are getting interesting?
@Dante
Sorry to rain on your parade.
@FranSix what the hell are you talking about?
The Chinese have excess reserves…there in the same spot japan was in when they had excess reserves. The Japanese threw their reserves into overvalued real estate. Did not do much for their economy. The chinese look like they are herding their citizens into monetary metals. Ramifications might be that the assets stay in house versus abroad or maybe more under their control. Either way their a long term source of buying or floor to market like the greenspan putz was to the equity market…just different asset classes.
I think the guy that wrote that article is not exactly typical wall street type.
@Danny – uh, Jim Willie is wrong about being unable to eat human undergarments
@sharon .. how’s your stomach ?
I posted last night that German Vox had to a 4 hour documentary on 911 .
Part #1 .. was on the detonation planning etc.
Part #2 .. was actually the film about Flight U93 , not a Doc.
As I said … I was surprised that they “allowed” Part #1.
It was basically accusing the US Administration of lying, i.e. 911 was an inside job.
That was the most detailed report I have ever seen .. many things even I had not known were brought to light.
Bottom line…
Is there a planned rift between the US and the EU .. i.e. EU wants to go it alone, e.g. without NATO for example ?
In other words, drumming up popular support ( by exposing 911 ) for the Europeans.
Did anyone see anything similar in the UK ?
I doubt it probably !
Interesting that Barrick paying off Hedge with capital raising instead of Gold itself.
Be nice to see the guys at GATA have a win after all this time beating their heads against a brick wall.
Jim Willie’s latest; talks gold, the talking heads, Karl Denninger and the 911 cover up.
http://news.goldseek.com/GoldenJackass/1252612800.php
you learned this yet,..cause your children have
http://icbe.com/carbonforkids/
Banks of the future are here folks!! read all about it : )
Gold on the move.
This is exciting. Over $US1010 then drop.
Sweet dreams then I’ll check on your 999.99 in the morning Stacy.
I know you will be correct, of course.
Gold being underwritten by China is just Wall St. B.S.
Gold is being bought on the open market by the larger miners to settle their hedging contracts, because there’s no way out. Barrick jumped on it, so will the other major global operations. If one does it, they will all be involved.
@Gold … F& … nice one.
Friday’s Gold .. nearly always up at the open and down at the close.
Post G20 / Monday will be interesting to see where gold is !
Also, have any of you seen the msm coverage today of 9/11? Spooky! Like being in the twilight zone. The only exception is Russia Today.
How about some bad news to smack the DJIA.
Perhaps lifting of all this stimulus to reveal the bunny rabbit thats not there.
Elliot Wave of McHugh has that looming. Catastrophe Wave (C) down he calls it.
Then commodities die in the arse and $US gets a boost….
Or does it?
At this very moment, at the NYSE, they are holding a minutes silence for the victims of 9/11. I’m just about managing to hold in the contents of my stomach.
What are the chances that these shmucks suck us all into gold then rebound the $US somehow.
Is that possible?
The more I study this stuff the more freaky possibilities there seem to be.
I guess they could start raising rates.
Either way the $US looks sick.
@Presumed Hedging
In the derivatives world, this share offering represents the possible amount of money that you would have to pay the holders of Credit Default Swaps. Not necessarily write down hedges. For that you would need gold.
The notional value of the derivatives associated with Barrick’s hedge book probably represent 10X the value of the hedge book, as it is a form of asset class.
Barrick is in a fix, because the copper price has reached its peak, (at least I assume as much from the COT numbers) and it has been using copper production, or “gold equivalent ounces” in lieu of a decline of gold production. This requires a constantly higher copper price, but that can only go so far in a deflationary segment.
So what Barrick is facing is a decline in copper price against the gold price, while at the same time not measurably increasing the output of copper. So they are credibly in default of their Credit Derivative Obligations and have to have enough cash to pay off the Credit Default Swaps.
So the entire gold market is technically in default, because the entire gold market is missing a year’s worth of production from the largest gold miner. But the default can be avoided by liquifying a hedge of a hedge of a hedge.
You can be sure that none of the agreements entered into are suddenly ripped up. What’s more, hedge books are still outstanding for a lot of the companies involved in the price suppression scheme, and that AS IT STANDS RIGHT NOW, they are betting the farm against a rise in gold prices contrasted with a decline in commodities prices.
Everyone get the picture now?
GOLD IS NOW UNDERWRITTEN BY CHINA
The message can’t be more clear. China with its $2 trillion of reserves and with a population of 1.3 trillion are major buyers of gold and silver. The effect of this is that the gold price is underwritten for some time to come.
http://matterhornassetmanagement.com/2009/09/11/gold-is-now-underwritten-by-china/
@Mini US – what is important is the NY close. It will not close over 999.99
Hmmmm.
First time for a while that London open hasn’t smacked Gold down.
GATA on Barrick hedge ‘default’.
Thats what they’re callin it.
http://gata.org/node/7773
@Mike2L … nice find.
… “In other words, it is my speculation that JPMorgan passed the silver short hot potato to unsuspecting entities. Please remember, this would be a transfer of the short position and its inherent risk to other parties, not an elimination of the position and its risk. It doesn’t really matter if JPMorgan transferred the risk, as far as the market is concerned. The short position still exists.”…
.
.
.
“speculation ”
And if JPM is still holding that position ?
And if NOT , which banks are ?
Convention in Texas regarding federal plans to implement a bracelet tracking system and suppress travel rights during the H1N1 outbreak. If this plan is implemented You’ll need to fight like no time ever before in history.
http://www.youtube.com/watch?v=eB7OwPk5Z78&eurl=http%3A%2F%2Fwww%2Edavidicke%2Ecom%2Fforum%2Fshowthread%2Ephp%3Ft%3D81423&feature=player_embedded
Here’s a really good economics website where you can observe realtime moves in currencies as well as monitor GDP declines.
The worst declines in GDP are easy to put into perspective. Declines in bond prices and rises of yields are said to be the next move, but I would suppose the best place to look would be where GDP declines the most and bond sales collapse as a result, creating a currency crisis:
http://www.tradingeconomics.com/World-Economy/Maps.aspx
At the very least, negative overnight interest rates are in the cards for those countries that can afford to gamble on QE, in a bid to keep long term interest rates down.
F6
A “Max-must read” post:-
The China Card
A force that threatens to profoundly disrupt the silver market is China. After 60 years of it being illegal for Chinese citizens to buy and hold silver (and gold), it has recently become legal. Not only that, the government is actively encouraging citizens to buy silver, allowing it to be sold by banks. Early reports suggest that the Chinese government is succeeding, with stories of bank lines developing for people waiting to buy silver. With the world’s largest population that has an established and ingrained propensity to save, and with an historically attractive asset suddenly available after a void of 60 years, it’s hard to imagine how a rush into silver won’t develop.
In addition, reports of pending export restrictions from China, the world’s largest refiner and third largest miner of silver, threaten to create a one-two price punch never witnessed before. Years ago I wrote, at the urging of my friend and mentor, Izzy Friedman, how China was likely the big silver short, depressing the price to pick up refining market share and dominance in the world production of silver. After the low price drove out world refining competition, China could then be in the position of controlling the price and driving it as high as they desired. I can’t help but think that not only was such analysis by Izzy correct, but it may be about to be realized.
COMEX Crackdown
The most immediate potential force in silver is an issue that has dominated my attention for the past 25 years. The ongoing silver manipulation, caused by an unprecedented concentrated short position on the COMEX, appears to be racing towards a resolution. The main driver behind the pending resolution is the new chairman of the CFTC, Gary Gensler. After only three months, he has grasped and articulated the concept of concentration. I think he may use the term more than I do, as hard to believe as that may be. He understands the role of legitimate position limits in commodity law and has effectively communicated this concept. He is proactive, a rare quality in a public servant. It is an understatement to say he may be the best CFTC Chairman ever.
Even if Chairman Gensler fails to live up to my high expectations in the Commission’s future actions, he may have done enough already to bring the silver manipulation to an end. He has elevated the issue of position limits and concentration to such a level that it guarantees that questions must finally be answered about the unusual short side concentration in COMEX silver futures. He has received many hundreds of public and private messages about this specific issue. He can’t and won’t ignore the questions and demands from the public. He will address them in some way.
We are now at the one-year anniversary of the current ongoing silver investigation by the CFTC. This is the third silver investigation in five years. The current silver investigation came into existence as a result of articles written by me about the revelations in the August 2008 Bank Participation Report. This report showed that one of two US banks (most likely JPMorgan) held a short position equal to 25% of total world silver mine production. This is an unprecedented concentration, never witnessed in commodity market history. I asked the public question – how can such a concentrated position not be manipulative to the price of silver? Instead of answering, the CFTC decided to launch another investigation. This is what a government agency usually does when it can’t answer a simple and direct question.
But the new chairman of the Commission has not evaded direct questions on the important matter of concentration and position limits. He wasn’t the chairman when the question of concentration was asked last year. He wasn’t the chairman when silver was investigated three times in five years. That’s the big difference between then and now. Gary Gensler is the chairman now and that is all that matters. In my opinion, he will soon address the questions in silver.
There is also the question of the short side without concentration. Recently, I indicated that I thought JPMorgan had probably covered its big concentrated short position in other markets, such as the OTC market. In other words, it is my speculation that JPMorgan passed the silver short hot potato to unsuspecting entities. Please remember, this would be a transfer of the short position and its inherent risk to other parties, not an elimination of the position and its risk. It doesn’t really matter if JPMorgan transferred the risk, as far as the market is concerned. The short position still exists.
On just the COMEX alone, including all futures and call options, but subtracting all spread positions, there is close to 500 million ounces of net silver short positions. I don’t care who holds it, this short position exists. Given the current and future realities in silver, this is an incredibly uninformed short position. It is not backed by real silver. Given how much silver exists in good-delivery bullion form and who owns it, there is a severe mismatch between that available silver and the amount the shorts have obligated themselves to deliver someday. The short holders have no prospect of securing real silver, except to buy it in the open market, thus driving prices higher and hurting themselves in the process. The collective COMEX short position stands to lose $500 million for every dollar that silver climbs in price. Silver is about to climb many dollars in price. My point is simple. Forget who owns the COMEX short position; just remember they don’t realize what a precarious position they have placed themselves in. That they will panic and rush to buy at some point is guaranteed.
Industrial Panic
On top of all these powerful forces set to launch a super price bubble the likes of which the world has never witnessed before, looms what I think is the most powerful force of all – the coming industrial user inventory buying panic. As I recently wrote in “A Date With Destiny,” it is almost impossible for the users not to panic, once tightness in the silver market results in delays in shipments to industrial consumers. Such delays will threaten the very existence of many users continuing as ongoing concerns. None of these users will cease to exist without a fight. That fight will involve buying silver, at any price available. This will feed on itself, until it burns out in a frenzied panic. Investors will panic and buy when silver prices soar, but no one will panic more than the users, with the possible exception of the shorts.
Price bubbles are rare. We throw the term around quite loosely nowadays, having recently experienced two bubbles, the Internet stock bubble ending in 2000 and the housing bubble. But bubbles remain the exception, not the rule. There are some characteristics common to all bubbles. You have to start with a good underlying story or investment premise, like a brand new technology or a belief that housing prices only go up. The story is usually legitimate to begin with, but everyone gets carried away and higher prices eventually outstrip the underlying story. But the price rise creates fortunes for those that know when to exit. The silver story is more compelling than any prior bubble. So will be the overrun in price.
You can only have a bubble if large numbers of people participate and there is widespread borrowing to buy the bubble asset. At the end, people are buying only because prices are rising. I believe this will occur in silver and we must be ready to exit when that takes place. But the point is that we are so far away from these excesses that it’s unnecessary to worry about them now. It is wise to put the coming silver super price bubble into proper perspective. We’re not close to it yet.
And please keep this in mind – with no other bubble did we have these conditions; a large and concentrated short position, a looming physical shortage, a downward manipulation that might be attacked by regulators, the entry into the investment equation of the most populous nation on earth, and a prospective industrial user inventory buying panic. It is hard to imagine how silver won’t be the largest bubble in history. You’ve just been given an invitation to participate beforehand.
Mike
President Obama extends 9/11 national emergency
.. “President Obama said the terrorist threat of further attacks on the United States is continuing and remains an “immediate threat.”"…
http://www.bnonews.com/news/735.html
How many times has the US been attacked since 911 anyone ?
Oh .. and yes, the threat is still there of course …
… the threat of not auditing the FED and not reopening the 911 Report !
How long will this continue ?
4 minutes – Three Days of The Condor – Final Scene
http://www.youtube.com/watch?v=Eovei355l4o
Says all !
OMG, couldn’t they have asked Geithner softer questions.
CNBC is really kissing the arses of the socialist bankers.
What kind a townhall was this. everbody in the audience looked
like a munch of zombies, captivated by he presence of his
holy majesty the treasury secretary. All hail the mighty swindler.
Yes, Britian is F*cked, but no “TOB” !
Mike
The UK bailed itself out at the tune of 50.000 USD/citizen, or 94,4% of GDP.
http://news.bbc.co.uk/2/hi/business/8248434.stm
Nasty..
@scott
The Brits will touch bottom when the join the euro.
first is, of course, second word war
@Sharon,……As we’ve discussed before, most folk are extremely malleable as far as behavior is concerned, so most will be quite happy being slaves , and won’t even notice the transition from old system to new (Read or watch Aldous Huxley).
It’s the small percentage that have eyes to see, who will be most affected,….as far as the UK being the best place to be,..your guess is as good as mine. : )
General McChrystal’s directive tells soldiers to “confront self-serving officials who monopolise wealth and power and abuse people’s trust”……. In Afghanistan ONLY and nowhere else.
http://tinyurl.com/n3wk49
I really hope that when the U.K. hits bottom (in about 6 months) that the EU tells the limies to shove their silly pounds someplace
@Dedo………do you think the UK is going to be the best place to be in the coming years? (or even months)?
Bush/Obama Doctrine: the Iraq Example
Could a police state return?
http://tinyurl.com/nyryu5
the article talks about the Iraq government imposing internet censorship and torture in jails among other things but no comment on how the same laws are being drafted or already exist in some western counties.
The ironic thing about entertainment and folk,…watch Derren Brown, ..he actually shows folk how susceptible their minds are to mis-direction and manipulation,..and they(the folk) still don’t get it.
There must be rooms full of TV exec’s laughing their bollocks and tits off me thinks!
http://www.youtube.com/watch?v=qr9DLB_rJts
Black outs in UK just a few years from now.
http://news.bbc.co.uk/1/hi/sci/tech/8249540.stm
@gonzo……………Nanny is to nice a word how about the Fritzl State?
Brilliant!
Describes it exactly!
@sharon
Nanny is to nice a word how about the Fritzl State?
@Nic Abbott
indeed but there was little that hadn’t already be reported apart from some of the small guys interviews.
Thanks for the “Follow the Money” link. that’s been bookmarked.
Sorry, has everyone gone off to top themselves?
@Phil………Has something changed ? … I always regarded the Brits as “not gullible; not naive” folk ! I would expect this from the Germans , but not the Brits !
Slow conditioning over many years I guess, and a media circus that’s willing to lie through their teeth or by omission. Destruction of communities and being made to feel they have no say in anything. THE NANNY STATE!
here’s a headline
Millions More Thrust Into Poverty
Decade of Headway in Household Income Erased, Census Data Find
http://www.washingtonpost.com/wp-dyn/content/story/2009/09/11/ST2009091100188.html
Excuse the grammar (typed in a hurry) and poison is with an ‘o’
@Phil……….be very careful what you say … they’re probably on their way now !
I think I’d go willingly, unless of course they have surveillance cameras everywhere, Rambo wannabes as community support officers (you know, the pretend police), lying, thieving gits in government, a rigged economic system, false flag terror events, made-up pandemics with killer cures, slave labour, idiots comprising of 90% of their population, propoganda as the norm, a ban on food containing nutrients, poisen in their food and water, laws that make no sense, a dumbed down education system, no future for their youth, robots everywhere, legalised genocide of large parts of the population, tax on everything including the air they breathe, spraying chemicals being sprayed throughout their atmosphere, bullshit being taught as history, no civil liberties. What have I missed?
@sharon … “Nearly everyone thinks it’s a wonderful idea. Aaaaaaaaaaaaaaaaaaaaaaaaah!! I’m beginning to despise my fellow man!”
Has something changed ? … I always regarded the Brits as “not gullible; not naive” folk ! I would expect this from the Germans , but not the Brits !
@ gonzomarx
Saw “love of money” last night. Thought is was pretty good actually. Good to hear a viewpoint that wasn’t just an all out conspiracy rant. It showed how there were flaws in the Lehmans model that allowed them to be brought down.
The best quote from an ex-Lehmans employee was, ‘”they [the FED] did like us very much”
The “love of money” is from the quote “the love of money is the root of all evil”, often mis-quoted as “money is the root of all evil” – just in case anyone didn’t know that.
Lessons Learned and Soon Forgotten
“Lou Jiwei, the chairman of China’s large sovereign wealth fund, summed up the view of big international financial players last week, “It will not be too bad this year. Both China and America are addressing bubbles by creating more bubbles and we’re just taking advantage of that. So we can’t lose.”
http://tinyurl.com/ku69xm
The cost to us all of the bailout. “Follow the Money”
http://news.bbc.co.uk/1/hi/business/8249411.stm
@gonzomarx .. ” Greg Palast ”
Thanks … found this on his website on … “No Child Left Behind”
http://www.gregpalast.com/images/bigTest-noChildLB.jpg
Oh guess what? Nearly everyone thinks it’s a wonderful idea. Aaaaaaaaaaaaaaaaaaaaaaaaah!! I’m beginning to despise my fellow man!
@Phil
Greg Palast also works the same patch as Gumbel
http://www.gregpalast.com/
Did anyone else catch For the love of Money on BBC2 last night?
it’s talked to some of the players in the Lehman’s debacle mostly self serving toss but there was an interesting bit, the insistence of the bankrupt attorney that the Fed didn’t want to save Lehmans
@sharon … ” Will someone please f*cking beam me up”
LOL .. be very careful what you say … they’re probably on their way now !
Someone earlier posted about Zeitgeist & AJ etc. being 50% BS ….. I also commented : “Yes, but as time goes on, you realize there there is less and less BS ”
Take the Davey Crocket example ( hope you read that link )…
Just think what those people from that era in history would think about what is going on today !
They would probably think Aliens have taken us over !
@Mike/Liverpool………….I’ve nearly always worked as a mother (other than a couple years).
I’m currently listening to the phone-in on Radio 5 re: CRB checks for 11.5 million people (a fifth of the population). This will be for people giving lifts to other peoples chidren if it’s for example an after school club or whatever. And of course, anyone who has a record is going to willingly volunteer for test, NOT! This is f*cking ridiculous, I’m furious – this country is a loonie bin! Will someone please f*cking beam me up!!!!
Andrew Gumbel – great quote …
You’ve got to look at the 2 (US) Parties as rivaling gangs of thieves !
@Steal this Vote – Book
Andrew Gumbel .. History of US Democracy
http://www.youtube.com/watch?v=DzfsVYl3nWc&feature=sub
57 minute talk ; very interesting so far.
A confirmation of what we already suspected or knew !
Thatcher told Gorbachev Britain did not want German reunification
“Mrs Thatcher said the destabilisation of Eastern Europe and the breakdown of the Warsaw Pact were also not in the West’s interests. She noted the huge changes happening across Eastern Europe, but she insisted that the West would not push for its decommunisation. Nor would it do anything to risk the security of the Soviet Union….she admitted that what she said was quite different from the West’s public pronouncements and official Nato communiqués. She told Mr Gorbachev that he should pay no attention to these”
http://tinyurl.com/omm7vd
Big Food vs. Big Insurance
“There’s lots of money to be made selling fast food and then treating the diseases that fast food causes…..As things stand, the health care industry finds it more profitable to treat chronic diseases than to prevent them. There’s more money in amputating the limbs of diabetics than in counselling them on diet and exercise.”
http://tinyurl.com/lfnkx8
Meet the Bank of Banks, the headquarters of all world central banks;
The BIS is referred to by the bankers as the, “Central bank for the central banks.” To put this bank into perspective today, whereas the International Monetary Fund (IMF) and the World Bank deal with governments, the BIS deals only with other central banks. All its meetings are held in secret and involve the top central bankers from around the world. For example the former head of the Federal Reserve, Alan Greenspan, would go to the BIS headquarters in Basel, Switzerland, ten times a year for these private meetings.
The BIS also has the status of a sovereign power and is immune from governmental control. A summary of this immunity is listed below:
1. Diplomatic immunity for persons and what they carry with them (i.e., diplomatic pouches).
2. No taxation on any transactions, including salaries paid to employees.
3. Embassy-type immunity for all buildings and/or offices operated by the BIS worldwide including China and Mexico.
4. No oversight or knowledge of operations by any government authority, they are not audited.
5. Freedom from immigration restrictions.
6. Freedom to encrypt any and all communications of any sort.
7. Freedom from any legal jurisdiction, they even have their own police force.
The BIS is a Rothschild front which worked for Hitler during the First World War, it is a state of its own that runs the whole damned world!
read more about it
http://www.globalresearch.ca/index.php?context=va&aid=13239
@Mike & Sharon
Brain Rot-MSM, and the Wilderness
http://www.youtube.com/watch?v=njiFReKzvVI&feature=sub
“URInTheVillage” just got back from camping in Yellowstone .. he’s just airing his thoughts today.
I like the guy !
Stacy
WHEN IS the UK going “TOB” ??????
Mike
Sharon
I maded a large amonut of my savings “Do a runner” for the UK a few years ago, while Gold was $800 ish.
Mike
Sharon
Are you working?…….I mean New Labour “Advice” is for both Mum & Dad to work………..thing is what if your just dad or Mum?
Mike
morning all, what happy news there is today!
Netanyahu visits Moscow in secret to obstruct Iran missile sale – Did Mossad high jack that Arctic ship?
http://tinyurl.com/ltg7dy
Census Bureau: Real Median Household Income Fell 3.6%
http://tinyurl.com/krv8s5
The depressing income and poverty data
http://tinyurl.com/lgquk6
U.S. Foreclosure Filings Top 300,000 for Sixth Straight Month
http://tinyurl.com/mklcko
a cartoon says a thousand words
http://tinyurl.com/mvqdxb
“The new emphasis reflects a recognition that one parent earning the minimum wage will not usually bring home enough money to keep his or her children out of poverty. Research shows that around half of the 3 million children living in poverty now have at least one parent working, but they earn too little to pull the family above the poverty line”
http://tinyurl.com/mn7zsl
Not Yours To Give:
… ” The Constitution provides for no income tax on purpose. There was no income tax until 1913 when it was imposed as something like 1% and supposed to be a temporary. ” …
From The Life of Colonel David Crockett,
by Edward S. Ellis (Philadelphia: Porter & Coates, 1884)
http://www.investorvillage.com/iv2/smbd.asp?mb=144&mn=30068&pt=msg&mid=7887841
Crocket :
… ” I will not go into an argument to prove that Congress has no power to appropriate this money as an act of charity. Every member upon this floor knows it. We have the right, as individuals, to give away as much of our own money as we please in charity; but as members of Congress we have no right so to appropriate a dollar of the public money. ” …
Read on .. it gets MUCH better ….
Excellent speech by Crocket !
For those living in the UK -Time to strategically place oneself in a position for a quick exit I think.
Denninger : Geithner, Kneale and The Impending Credit Collapse
… ” Yeah, you read that right. The chart’s out with updated figures.
Oh, and Kohn (Fed Vice-President) knows too. He leaked it. Beware folks, all is not as it appears….”…
http://www.youtube.com/watch?v=l__00FBpTu4&feature=sub
http://market-ticker.denninger.net/archives/1423-Geithner,-Kohn,-barf-Kneale,-Banking-and-More.html