The more energy we have access to, the more we feel the urge to burn. And we produce children to help us do it, and raise them accordingly. There seems to be a pattern here. We make sure every next generation is even more dependent on burning even more energy, and less capable of doing without. Not because we don’t understand this can only end in tears and blood and piles of corpses; we do. All the evidence says we simply can’t help ourselves.
The government’s Help to Buy scheme – a handout to the big beasts of the construction industry wrapped up as a fluffy social policy giving the hard pressed a leg up – has had an inauspicious start to life.
Max Keiser of rt.com/shows/keiser-r…, to speak at the EXANTE AWARDS in Lisbon on 25th May 2013, this event, is one not to be missed.
— EXANTE (@EXANTE_EU) May 19, 2013
When the Rothchild’s HKMEx was launched in 2011, much of the metals community assumed that the COMEX & LBMA, were they not to outright default, would fade into irrelevance with the advent of the new Asian metals exchange.
Two years after the exchange’s launch however, in perhaps the most glaring evidence of physical gold & silver shortage to date, the HKMEx has announced it will voluntarily cease trading, and all open positions will be closed out and financially (cash) settled on Monday 5/20!
We examine stories about those who, using spoof trades, bogus securities and fictitious capital, steal real wealth and income. They discuss how it is that every benchmark index is rigged and introduce the concept of the ‘bonus benchmark.’ In the second half, Max talks to Dr. Michael Hudson, author of The Bubble and Beyond, about debt and wage deflation and about the intersection of interest rates and wages going back to David Ricardo when wages were measured against the price of bread to today when they are measured against the price of debt.
The financial media would have you believe that everyone and their dog has given up on the precious metals market. But as Peter Schiff humorously remarked perhaps a few months early: The gold & silver bull market is dead! Long live the gold & silver bull market!
On this week’s show, we discuss the recent action in the metals & markets, including:
Testing of $22/silver and $1320/gold next week, with the potential for a capitulation spike low as soon as Sunday’s Globex session- silver could see a spike low to $18-$20, & gold a $1200 handle
Examination of fundamentals: Nothing has significantly changed
Physical versus paper demand trends in both the West and Asian markets
George Soros and another documented case of financial media spin