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The government is the only agency that can take a valuable commodity like paper, slap some ink on it, and make it totally worthless.
Ludwig von Mises  
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PRECIOUS METALS (US $)
Gold 1242.411.41
Silver 17.170.03
Platinum 1256.701.60
Palladium 765.400.10
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DOWJONES 16461-154
NASDAQ 4383-37
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CURRENCIES ($)
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CAN $ 1.1241
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GBP (£) 0.6234
Sw Fr 0.9541
YEN 107.2050
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Gold / Silver72.36
Gold / Oil15.53
Dowjones / Gold13.25
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Adam Hamilton - Zealllc
Real Silver Highs 
The first question burning a hole in every silver investor’s mind is just how high did silver rocket in 1980 in today’s dollars? Its January 21st, 1980 all-time closing high of $48 translates into just under $122 today! Obviously this is vastly higher than anything we have seen in 25 years and it highlights just how low silver’s price is today in real terms trading under $10. This metal remains very cheap in its young bull market.
Saturday, October 18, 2014
James Howard Kunstler
“Omenland” 
D id a few loose strands of Ebola seep into the organs and tissues of global finance last week? The US equity markets sure enough puked, the Nikkei bled out through its eyeballs, all the collagen melted out of Greek bonds, and treasuries bloated up grotesquely on a putrid stream of terrified “liquidity” that led two Federal Reserve proctologists to maunder about the possibility of a QE-4 laxative, out of which, in due time, will surely gush explosive bloody fluxes of deeper financial sickness. T
Tuesday, October 21, 2014
Jesse - Le Cafe Américain
The White Rose, In the Land of the Willfully Blind 
This is one of my favorite leaflets from Die Weiße Rose. I enjoy their observation that "German intellectuals fled to their cellars, there, like plants struggling in the dark, away from light and sun, gradually to choke to death." One cannot blame them in some ways, since from the very beginning the National Socialists were backing their words with violent street thugs in brown shirts. And so many among the very wealthy and the highly trained professional classes threw themselves into the arm
Saturday, October 18, 2014
Jeffrey Lewis
The Countdown to Truth
“The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is.”-Winston ChurchillLet’s take a look at this quote in the context of physical silver. I don't think it's going out a limb to say that physical silver represents a type of financial truth. The truth is incontrovertible.in·con·tro·vert·i·bleˌinkäntrəˈvərdəb(ə)l/adjectivenot able to be denied or disputed.” incontrovertible proof"synonyms: indisputable, incontestable, undeniable, irrefutable, u
Saturday, October 18, 2014
Steve Saville - Speculative Investor
Why is gold mining such a crappy business? 
That gold mining has generally been a crappy long-term investment for almost five decades is evidenced by the following chart. The chart, much of the data for which were provided by Nick Laird of www.sharelynx.com, shows the ratio of the Barrons Gold Mining Index (BGMI) and the US$ gold price from 1920 through to the present*. More specifically, it shows that, relative to gold bullion, the group of gold-mining stocks represented by the BGMI has been in a secular decline since 1968 and is now clo
Monday, October 20, 2014
Stewart Thomson - Graceland Update
Rate Hikes & Gold
Graceland Updates By Stewart Thomson1.While all “systems are go” for the precious metals sector, or at least appear that way, things are substantially more questionable for the world’s stock, bond, and real estate markets.2.India’s top central banker, Raghuram Rajan, is highly educated, in both engineering and economics.He’s one of the smartest practical economists in the world, and the only central banker to have predicted the 2008 super-crisis.3.Ominously, he’s the only central banker now, iss
Tuesday, October 21, 2014
George F. Smith - Barbarous Relic
  The Virtue of Hoarding 
Most people would admit to hoarding money only with a tinge of guilt, because to be a hoarder carries with it the suggestion of being a miser — a Scrooge. And yet, every participant in an economy based on indirect exchange holds some amount of money and can be said to be hoarding it, that is, declining to spend it. Hoarding is a strategy for achieving personal goals or for dealing with economic uncertainty.
Sunday, October 19, 2014
Bill Downey - Commodity Trader
Gold Weekly Report---the Consumer price index report on Wednesday should be key this week
Gold Weekly Update ~ Oct 19, 2014 Trend Long Term ~ Bearish– Need a monthly close above 1560 for neutral trend without bearish potential. The key resistance area’s to regain new bull market leg are 1792 and 1804-1830 Medium Term ~ Neutral/Bearish– A monthly close below 1289 puts gold in full bearish trend for the medium term trend. However, it is possible that we have made an important low again at 1180. Odds still favor it will get broken before the end of the bear market. Intermediate Term ~N
Monday, October 20, 2014
Phoenix Capital - Gains Pains & Capital
The Folks Who Know the Most About Their Firms… and the Economy… Are Selling the Farm
Stocks rallied last week when a non-voting member of the Fed stated something totally pointless (that the Fed should consider postponing its taper… when there’s only $5 billion left in QE anyway). Put another way, the markets were so desperate for a Fed intervention that the idea of $5 billion coming later rather than now makes a difference some how.  It’s pathetic, but when 70-80% of market volume comes from non-thinking computer trading programs, the words “Fed” and “President” matter more tha
Saturday, October 18, 2014
Chris Martenson
Ebola! 
The current Ebola outbreak, unlike others throughout history, is lasting a very long time; with cases now being reported on a variety of continents well outside of its equatorial African origin. I'm not especially worried about Ebola striking me or my loved ones, for reasons I'll explain in a moment. But I'm growing increasingly concerned about government response to the outbreak. So let's spend some time understanding the nature of Ebola, specifically, and viral contagion, more generally. At th
Monday, October 20, 2014
Lew Rockwell
  The Fascist Threat 
Everyone knows that the term fascist is a pejorative, often used to describe any political position a speaker doesn’t like. There isn’t anyone around who is willing to stand up and say: "I’m a fascist; I think fascism is a great social and economic system." But I submit that if they were honest, the vast majority of politicians, intellectuals, and political activists would have to say just that.
Monday, October 20, 2014
Mish - Global Economic Analysis
Irony of the Day: Yellen Moans About Income Inequality; Seven Things That Cause Inequality
Those seeking the irony of the day will find it comes straight from the mouth of the Fed Chair. Please consider Janet Yellen Bemoans Rising US Inequality. Janet Yellen decried rising inequality on Friday in an unusual speech that may lead to accusations of politicising the US Federal Reserve. Speaking at a conference in Boston, the Fed chairwoman said she was “greatly concerned” by rising income and wealth inequality, and asked whether it is compatible with American values. Her remarks will
Friday, October 17, 2014
Mark O'Byrne - gold.ie
“Save Our Swiss Gold ” - Game Changer For Gold?
by Ronan Manly, GoldCore Consultant Contents - Foreword - Introduction - Success of Swiss People’s Party (SVP) - Direct Democracy and Popular Initiatives - Petition Filing - Initiative Launch - Motivation for the Initiative - Gathering the People’s 100,000 Signatures - Gold Initiative Gets Over 107,000 Signatures - Selling The Swiss Family’s Gold  Swiss Flag in the Swiss Alps Foreword We believe that the “Save Our Swiss Gold” campaign has the potential to be a game changer in the gold market -
Friday, October 17, 2014
Alasdair Macleod - Finance and Eco.
Market Report: Gold benefits from market uncertainty
The outlook for gold is now more positive than it has been for some time. After a prolonged period of low volatility as funds invested in ever-greater risk, markets have snapped and volatility has jumped. In short, we are swinging very suddenly from complacency to reality. Financial markets hit a serious air-pocket this week, with a collapse in US Treasury bond yields in a dash-for-cash, illustrated in the chart below. On Wednesday the yield fell from 2.21% to 1.87%, a move of over three whole p
Tuesday, October 21, 2014
Nathan Lewis - New World Economics
  Russia's Currency Crisis: This Is So 2008!
http://www.forbes.com/sites/nathanlewis/2014/10/16/russias-currency-crisis-this-is-so-2008/ Are you getting that “it’s kinda like 2008 again” feeling? I am! In November of 2008, the Russian ruble was collapsing vs. the dollar, the Russian central bank was intervening in the foreign exchange market, Russian interest rates had risen to high levels, and I was writing an op-ed about it. Here’s what I wrote in 2008: On the surface, it appears that
Sunday, October 19, 2014
Rick Ackerman
The Death Rattle of Europe’s Statist Dream 
Europe’s all-too-predictable relapse into recession is gathering force, threatening not only the pipe dream of economic and political unity, but eroding grandiose illusions that have helped prop up the world’s financial house of cards. The unwillingness of France in particular to play by the EU’s — i.e.,  Germany’s — rules appears to have doomed the EU dream. The idea of a borderless Europe bound by a common currency and a shared desire to forever banish war from the Continent was a lofty one, b
Monday, October 20, 2014
Alasdair Macleod - Finance and Eco.
Why the business cycle is failing 
Since WW2 economic theorists have posited that demand in the economy could be stimulated by a combination of deficit spending by the government and by suppressing interest rates. The separation of demand from production was promoted by Keynes and interest rate management of the economy by monetarists, though there is considerable overlap between the two. Yet no progress in economic management has been achieved: instead we appear to be on the brink of a major economic dislocation.Far from banishi
Tuesday, October 21, 2014
Chris Powell - GATA
Koos Jansen: The Chinese precious metals market is on fire 
China's gold demand, as signified by offtake from the Shanghai Gold Exchange, has reached "extraordinary" levels in recent days, while silver is growing shorter in supply as well, according to gold researcher and GATA consultant Koos Jansen, market analyst for Bullion Star in Singapore. Jansen's analysis is headlined "The Chinese Precious Metals Market Is on Fire" and it's posted at Bullion Star here: https://www.bullionstar.com/article/the%20chinese%20precious%20metals%20...
Monday, October 20, 2014
Philip Judge - Anglo Far East
A Century Unique In All History 
This last century is unique in all of history, as it tells the story of the first time in all of history, that gold has been completely and officially abandoned as the backing for money. We have said before that maintaining control of the financial systems is the largest single challenge facing the leaders of the world today. This is evidenced in the last two years by the record number of summits and emergency meetings of organizations such as IMF, World Bank, World trade Organization, and the G7. The Plunge Protection Team and Exchange Stabilization Fund have been working overtime, while we have witnessed the setting up and convening of special sub committees of central banks and governmental policy makers, all dedicated to ensuring stability of financial and capitol markets, at all costs.
Tuesday, October 21, 2014
Mish - Global Economic Analysis
  FBI Director Warns Google and Apple "If You Don't Decrypt Phones, We'll Do It For You" 
The Fourth Amendment to the US Constitution is crystal clear in meaning. The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized. FBI Director, James Comey, an Obama appointment, does not give a damn what the Constitution
Saturday, October 18, 2014
Gary Tanashian - Biwii
Market Summary; Saturday Morning Cartoons
By Gary TanashianAllow me to share a simple sketch I drew that was part of an NFTRH interim update for subscribers last night.  The black line is where we have been.  The blue line is a projection of what a typical correction (whether a healthy interim one or a bear market kick off) might look like.We used real charts of the Dow, S&P 500 and Nasdaq 100 to gauge the entry into the current correction and now the resistance points to the expected bounce off of the US market’s first healthy sentimen
Friday, October 17, 2014
Marin Katusa - Casey Research
Oil Deflation, the Saudi’s Muslim Frankenstein, and the Colder War
Deflation [dih-fley-shuhn] Economics. a fall in the general price level or a contraction of credit and available money (opposed to inflation). Source: Dictionary.com The US Energy Information Administration (EIA) published a very compelling chart last week; it shows that the net energy imports of the US as a share of consumption are at their lowest level in 29 years. How can this be? The reason is shale oil. The success of the shale oil sector—specifically horizontal drilling and
Tuesday, October 21, 2014
Nathan Lewis - New World Economics
A Brief History of World Currencies, 1949-2014
Here's something you don't see everyday: a look at all the currencies in the world, from 1949 to 2014. We looked at currencies during the 1914-1941 period earlier this year: July 18, 2014: Foreign Exchange Rates 1913-1941 #8: A Brief Summary June 22, 2014: Foreign Exchange Rates 1913-1941 #7: Switzerland's Independence; Turkey Avoids Devaluation June
Monday, October 20, 2014
Famous diamonds
The Lesotho Brown
Discovered in May 1967, the 601 carat Lesotho Brown diamond was the first significant diamond to be recovered at Letšeng and thus became famous as the largest diamond ever discovered by a woman.
Friday, October 17, 2014
Michael Pento - Delta Global Advisors
A Funny Thing Happened on The Way to Raising Rates 
It wasn't too long ago that the stock market was busy celebrating a "great" September jobs report. There were 248k net new jobs created and the unemployment rate dropped to 5.9 percent. Janet Yellen, Ben Bernanke and the rest of Washington D.C.'s central planners deemed it a great time to take a Keynesian victory lap, basking in the delusion that they now have proved you actually can print and borrow your way to prosperity. And, because of their success, the Fed would be able to raise
Monday, October 20, 2014
Chris Powell - GATA
Silver futures ripe for short squeeze and 'cash settlement' default, Sprott says
Sprott Asset Management CEO Eric Sprott, interviewed for the Sprott Money News weekly review, notes that the Ebola virus problem is far worse than government officials have said, that the world economy is too, that the monetary metals futures markets are easily manipulated by big money, but that the silver futures market is ripe for a short squeeze that will end in the default of "cash settlement." The interview is 15 minutes long and can be heard at the Sprott Money Internet site here: http://w
Saturday, October 18, 2014
Chris Powell - GATA
LBMA gets 8 proposals to replace century-old gold fixing
LONDON -- Intercontinental Exchange Inc., the London Metal Exchange, and CME Group Inc. and Thomson Reuters Corp. are among firms shortlisted to develop and run a replacement for the century-old London gold fixing benchmark. Autilla Ltd. (Sapient) and EBS are also on the short list, the London Bullion Market Association said in a statement today. Ten companies submitted eight proposals, some of them joint. The LBMA, which said last week firms will present at a seminar on Oct. 24, expects a mark
Friday, October 17, 2014
Chris Powell - GATA
Von Greyerz: Swiss gold referendum aims squarely at market manipulation
Swiss gold fund manager Egon von Greyerz today comments to King World News about the opinion poll showing strong support for the Swiss gold repatriation referendum proposal. Von Greyerz says: "The yes campaign starts this Thursday with a press conference. This is when it will put forward its arguments for this initiative. The Swiss government is against this initiative, as all governments are, because it takes away the government's ability to manipulate the currency and gold markets. Switzerlan
Wednesday, October 22, 2014
Jesse - Le Cafe Américain
No Recovery: Longest Sustained Fall In UK Real Wages In Recorded History 
Why is there no sustainable recovery? Because of the policy errors of the West to save the corrupt financial system, but abandon the people whom 'the system' is intended to serve. You may read the story about why the Bank of England is likely to keep interest rates low, which accompanies this graph, in the Financial Times.
Sunday, October 19, 2014
Jeffrey Lewis
Perpetual Debt Slavery 
There is an unspoken difference between debt that is designed to be paid back and debt (disguised as perpetual flow) to finance pre-existing streams of debt service. The second type of debt is a Ponzi large enough to make Bernie Madoff blush.  And crash the system. In the current system, debt is money for nothing used to create asset bubbles. Including the equity lift-off we see today. Giving rise to the pump and dump scams that are very much alive and well.As Zerohedge captured the essence: "To
Tuesday, October 21, 2014

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