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• Axel Merk: Why Is Anyone Still Waiting to Sell the Dollar?

“The Fed can buy billions, even a trillion or so, but if and when the market is moving against the policymakers then there is no stopping. The Fed cannot stem that tide. There is only so much that they can manage and so it is something that they have to watch very carefully. At the same time, they are not terribly concerned. If the bond market is falling, you do not know whether it is because of more economic growth or because of more inflation, and you really only know after the fact.

So for now people think “We have economic growth kicking in”, until the next economic numbers are not as great as expected and so it is a bit like a boiling frog syndrome. You print in all this money, you think everything is great and you have some warning signs but you think “Things are moving along” and by the time that you really see the damage you have created, it is quite late to undo this damage and it is going to be very, very expensive and painful.”

In this podcast, Axel explains: Continue reading →

If anyone knows a cameraman available in Athens April 27th, 28th – add to comments – a link to a clip reel you have for us to take a look at. Thanks!!!

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• What I Think the Fluctuations and Trends In the Comex Silver Inventory Mean

I am sure that the exchange principals will pass along rumours about a short squeeze and an attempted market corner, and try to paint this as some insidious anomaly. Yes there are speculators becoming involved, those who see what is happening. As the British government attempted to hold the pound to an artificial value, and was hammered down by traders, famously George Soros but primarily the faceless acting through the Swiss, so too the metals manipulation by the Anglo-American banking cartel is staggered, and is probably going to go down hard, capitulate with a revaluation and partial disclosure, and move on from there. I think the episode of cheap gold and silver is over, until a new cycle of money begins.

From the latest on AutomaticEarth:

To go from there to the conclusion that the U.S. Treasury faces an imminent funding crisis, however, requires a few major and unlikely assumptions; the classic hallmark of those fretting over hyperinflation of the dollar in the short-term. As briefly discussed above, a slowdown in foreign government purchases of U.S. Treasury bonds could be significantly offset by an increase of inflows from private foreign investors fleeing the equity, commodity, government agency and mortgage-related investments of other regions, as well as domestic investors fleeing those same risky investments.

Selling dollar based risky investments (yes, all bets on all securities in the global 700 trillon dollar derivatives market are U.S. dollar based) to buy dollars . . . . ? I don’t think so. Gold and silver agree with me. Gold and silver are proving the deflationist’s long U.S. dollar bet wrong and will continue to do so IMO. MISH for one is a deflationist who is buying Gold. He’s the only analyst who has gotten this right over the past 5 years; both his macro-case and his portfolio mix. Buying dollars now hoping for a ‘dead cat bounce’ is financial suicide. Or to put it in the parlance of Wall St.; it’s like trying to pick up nickels in front of a steamroller. But hey, maybe you’re into that sort of thing. BTFD if we see any short term silver/gold pull backs. In the case of silver, the price can go to $500 if YOU WANT IT TO. The market is so small that a dedicated army of silver revolutionaries can drive the price to wherever they want it to go.

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