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Each generation imagines itself to be more intelligent than the one that went before it, and wiser than the one that comes after it
George Orwell  
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Money as debt - Food for thought
If all bank loans were paid up… 
'If all the bank loans were paid up, no one would have a bank deposit, and there would not be a dollar of currency or coin in circulation. This is a staggering thought. We are completely dependent on the commercial banks for our money.
Thursday, July 24, 2014
Jesse - Le Cafe Américain
SP 500 and NDX Futures Daily Charts - Tragedy Tomorrow, Comedy Tonight
Facebook announced 'better than expected' numbers after the bell. The stock sold off a bit because apparently the 'whisper numbers' were higher. AT&T posted a miss. Unemployment claims out tomorrow, as if anyone cares. The IMF has lowered its US growth estimates and suggests Fed easing could extend beyond 2015. Have a pleasant evening.
Thursday, July 24, 2014
Jesse - Le Cafe Américain
SP 500 and NDX Futures Daily Charts - The Pretenders
The metals were a dull trade today, although the miners were beleaguered by the usual mischief. There was nothing of real interest to report in the Comex activities from yesterday. The Comex will soon have less relevance of an exhibit at the Smithsonian. "Look Johnny, this is where people used to pretend to trade things they didn't even have. And they were adults like mommy and daddy!" Have a pleasant evening.
Thursday, July 24, 2014
Chris Powell - GATA
The revolving door in U.S. government regulation has never spun faster
By Douwe Miedema and Michelle Price Reuters Wednesday, July 23, 2014 A member of the U.S. Commodity Futures Trading Commission will become the new head of a bank lobby group that is fighting the derivatives regulator in court over a crucial new rule curtailing Wall Street. The International Swaps and Derivatives Association said on Wednesday that Scott O'Malia, a Republican who often voted against new CFTC policy in the wake of the financial crisis, will become the trade group's next chief execu
Wednesday, July 23, 2014
Chris Powell - GATA
U.K. hastens negotiations for currency-rigging settlement 
By Lindsay Fortado, Suzi Ring, and Gavin Finch Bloomberg News Wednesday, July 23, 2014 LONDON -- Talks to reach the first settlement in the currency-rigging probe are accelerating, with Britain's markets regulator preparing to reach a deal with a group of banks this year, people with knowledge of the talks said. The Financial Conduct Authority is in talks with banks including Barclays Plc, Citigroup Inc., JPMorgan Chase
Wednesday, July 23, 2014
Mark O'Byrne -
‘Apocalypse’ Krugman Ignores Keynes And Comrade Lenin’s Warnings
Today’s AM fix was USD 1,307.50, EUR 971.04 and GBP 767.54 per ounce. Yesterday’s AM fix was USD 1,307.00, EUR  969.44 and GBP 765.76 per ounce. Gold fell $6.40 or 0.49% on yesterday to $1,306.50/oz and silver remained unchanged at $20.94/oz. Gold in U.S. Dollars - 50, 100, 200 SMAs (Thomson Reuters) Gold remains in a very tight range in London this morning as did gold bullion in Singapore overnight. Futures trading volumes were low and 7% below the average for the past 100 days for this time
Wednesday, July 23, 2014
Chris Powell - GATA
Gene Arensberg: The gold trade seems to see little downside risk
The Got Gold Report's Gene Arensberg tonight looks again at trader positions in gold futures and concludes that "the gold trade," the people who do the biggest business in gold, "are currently positioned as though they do not believe that gold has any significant downside." Arensberg's commentary is headlined "Comex Producer/Merchants in Gold, View from 30,000 Feet an Eye-Opener" and it's posted at the GGR here:
Wednesday, July 23, 2014
Mish - Global Economic Analysis
  "No Perry Mason Moment": US Intelligence Admits "No Direct Evidence Linking Russia to MH17"
Earlier today, and several times recently, I received emails accusing me of being a Russian spy and asking me how much I was receiving from RT. I find such accusations highly amusing. Here's the deal: Few bloggers are willing to discuss MH17 for fear of getting it wrong. Whereas I suspect nearly everything, but especially reports coming from Kiev and the US. My reasons are threefold: There are more questions surrounding Kiev and US reports than Russian reports. Kiev has been caught twice in
Wednesday, July 23, 2014
investing in precious metals - The Gold Report
  Silver Investing Chapter 5 : Alternative Silver Investing
If mining stocks did not provide enough leverage, there are still other avenues that offer even more leverage than mining shares. The decision to use leverage in a precious metals purchase is a decision to accept a greater percentage of risk relative to your capital outlay. The
Wednesday, July 23, 2014
Przemyslaw Radomski CFA - SunshineProfits
Bitcoin Trading Alert: Tensions Mount for Bitcoin
Bitcoin Trading Alert originally sent to subscribers on July 22, 2014, 11:45 AM. Briefly: we still support long speculative positions in the market, stop-loss at $550. We read an interesting piece on Business Insider which brought up the ideas of Fred Wilson, founder of Union Square Ventures and a Bitcoin investor. Wilson earlier spoke for the NYC Foundation for Computer Science Education and expressed his views on Bitcoin: (…) I got a lot of emails from people, particularly in the last few
Wednesday, July 23, 2014
Jeffrey Lewis
Central Banks and The Dollar Hitting the BRICS
“We are pleased to announce the signing of the Treaty for the establishment of the BRICS Contingent Reserve Arrangement (CRA) with an initial size of US $100 billion. This arrangement will have a positive precautionary effect, help countries forestall short-term liquidity pressures, promote further BRICS cooperation, strengthen the global financial safety net and complement existing international arrangements.... The Agreement is a framework for the provision of liquidity through currency swaps
Wednesday, July 23, 2014
Jesse - Le Cafe Américain
SP 500 and NDX Futures Daily Charts
"If you follow issues like Too-Big-To-Fail or Wall Street corruption long enough, you realize that the reason things don't get done about them by our government has very little to do with ideology or even politics, in the way most of us understand politics. Instead, it's a bizarre, almost tribal mentality that rules our capital city – a kind of groupthink that makes extreme myopia and a willingness to ignore the tribe's ostensible connection to the people who elected them a condition for social
Wednesday, July 23, 2014
Jesse - Le Cafe Américain
Gold Daily and Silver Weekly Charts - Capping The Recovery™ By Distributing Paper Wealth
"It would convert the Treasury of the United States into a manufactory of paper money. It makes the House of Representatives and the Senate, or the caucus of the party which happens to be in the majority, the absolute dictator of the financial and business affairs of this country. This scheme surpasses all the centralism and all the Caesarism that were ever charged upon the Republican party in the wildest days of the war or in the events growing out of the war." James A. Garfield,  on a resol
Wednesday, July 23, 2014
Bill Downey - Commodity Trader
Gold Dumped (pre-CPI) and Pumped (post-CPI)
INTRA-DAY NEWSLETTER ~ July 22 2014 Gold Dumped (Pre-CPI) And Pumped (Post-CPI) Submitted by Tyler Durden on 07/22/2014 - 08:49 9 minutes before CPI data hit, gold futures were slammed lower on notable volume ($390 million). Then as CPI hit and "noise" was evidently not going away, gold prices surged over $12 to $1316 obn very heavy volume... Gold is moving inversely with the USD (which is flying around) as stock rally (?) and longer-term bonds rally/flatten. CPI Remains Stubbornly High as Ye
Tuesday, July 22, 2014
Andy Hoffman - Miles Franklin
The Road To Hyperinflation In Simple Pictures
THE ROAD TO HYPERINFLATION, IN SIMPLE PICTURES Sometimes, even the most poetic, concise text doesn’t do justice to simple graphics. Sure, I could write of this weekend’s dangerous expansion of “Cold War II” – which we can only pray doesn’t turn “hot”; or the most pitched Israel/Hamas battles, yielding 450 casualties, since the 1967 war. Heck, I could write entire articles on a half dozen topics related to Friday’s “horrible headlines” alone; from St. Louis Fed President Bullard warning of a U.S.
Tuesday, July 22, 2014
Chris Powell - GATA
Petropavlovsk's Hambro 'horrified' by gold market rigging; he should buy a GATA T-shirt
By Thomas Biesheuvel Bloomberg News Tuesday, July 22, 2014 LONDON -- Peter Hambro, chairman of gold producer Petropavlovsk Plc, said he was "horrified" by the manipulation of the London fix given its importance to the industry. "When I read the reports on what people had been doing to it, I was horrified," Hambro said in an interview today. "It is something that is really important to people in the industry. It's somethi
Tuesday, July 22, 2014
Chris Powell - GATA
Jeremy Warner: Have central banks been breaking the law?
By Jeremy Warner The Telegraph, London Monday, July 21, 2014 The best way to destroy the capitalist system, the Russian revolutionary leader Vladimir Lenin is reputed to have said, is to debauch the currency. The world's major central banks have certainly been having a fair old go at it. In the six years since the financial crisis first broke, they've been printing money like there is no tomorrow. Fortunately, they have
Tuesday, July 22, 2014
Mark O'Byrne -
Gaza And Ukraine: Pawns In A Deadly, Grotesque Geopolitical Game
Today’s AM fix was USD 1,307.00, EUR 969.44 and GBP 765.76 per ounce. Yesterday’s AM fix was USD 1,312.75, EUR 970.75 and GBP 768.72 per ounce. Gold rose $2.40 or 0.18% on yesterday to $1,312.90/oz and silver climbed $0.09 or0.43% to $20.94/oz. Gold prices are flat in London this morning after gold in Singapore fell from $1,312/oz to $1,305/oz. Futures trading volumes were low and 16% below the average for the past 100 days for this time of day. Increased risk appetite as seen in rising stock
Tuesday, July 22, 2014
Jeff Clark - Casey Research
Gold : Western Delusions vs. Chinese Realities
I don’t want to say that mainstream analysts are stupid when it comes to China’s gold habits, but I did look up how to say that word in Chinese… One report claims, for example, that gold demand in China is down because the yuan has fallen and made the metal more expensive in the country. Sounds reasonable, and it has a grain of truth to it. But as you’ll see below, it completely misses the bigger picture, because it overlooks a major development with how the country now imports precious metals
Tuesday, July 22, 2014
Chris Powell - GATA
Turk notes weakening 'flash crashes'; Embry knocks Yellen's disinformation
"Flash crashes" in gold and silver, the attacks of market-rigging central planners, are having less effect, GoldMoney founder and GATA consultant James Turk tells King World News today. "With both gold and silver -- as well as the mining stocks -- being so undervalued," Turk says, " the central planners can't keep downward pressure on the precious metals for days or even weeks like they used to." Turk's interview is excerpted at the KWN blog here:
Tuesday, July 22, 2014
Jesse - Le Cafe Américain
SP 500 and NDX Futures Daily Charts -
There is little economic news this week. The new weekly economic calendar is below. The drivers this week are therefore likely to be on earnings reports, and the geopolitical issues especially with regard to the Ukraine. Our glorious financial warriors are riding high in the markets, which are otherwise very dull and quiet. Remember, thou art a man. Memento mori. Have a pleasant evening.
Monday, July 21, 2014
Jesse - Le Cafe Américain
Gold Daily and Silver Weekly Charts - Cap, Cap, Cap
Gold and silver had the lid slammed all day, although the miners recovered nicely from an early morning smackdown. The next Comex option expiration will be next Monday. Have a pleasant evening.
Monday, July 21, 2014
Andy Hoffman - Miles Franklin
Historical Norms
“HISTORICAL NORMS” Following last week’s soon-to-be-infamous Yellen quote that “price equity ratios and other measures (of stock, bond, and real estate valuation) are not outside historic norms,” I thought I’d do a bit of thought-streaming – starting with what an “historical norm” refers to. Since this blog focuses principally on financial topics – and specifically, money – “historical” can refer to trends going back to the dawn of man. As a leading Precious Metals purveyor, Miles Franklin has b
Monday, July 21, 2014
Jesse - Le Cafe Américain
  Thom Hartmann: The Crash of 2016 
This is a view of how we got here and where we are going that you are unlikely to hear from the mainstream media.
Monday, July 21, 2014
Antal E. Fekete - Gold University
Credit Unions 

Monday, July 21, 2014
Thorsten Polleit
Ending the Monetary Fiasco – Returning to Sound Money 
Money plays a key role in facilitating and intensifying the process of civilization. However, this holds true only for free-market money, while with government-controlled fiat money, the opposing tendency comes into operation, namely the process of decivilization.
Monday, July 21, 2014
Antal E. Fekete - Gold University
The Federal Reserve As An Engine Of Deflation (sic!) 
Although the Fed’s open market purchases of securities (always net) affect only the short end of the yield curve directly, through the transmission of risk-free bond speculation they will affect the rest of the yield curve indirectly. Thus the entire spectrum of interest rates will keep falling in consequence of the Fed’s open market purchases of Treasury bills (or equivalent). This is a powerful if unrecognized force in the economy causing a chain-reaction as follows:
Monday, July 21, 2014
Chris Powell - GATA
Koos Jansen: Chinese wholesale gold demand year to date is nearly 1,000 tonnes
Chinese wholesale gold demand for the year through July 11 has reached 998 tonnes, gold researcher and GATA consultant Koos Jansen reports today. While offtake from the Shanghai Gold Exchange for the week ending July 11 was somewhat diminished, Jansen writes, copper has been trading in backwardation in Shanghai for two weeks. Jansen's commentary is posted at Bullion Star's Internet site here:
Monday, July 21, 2014
Chris Powell - GATA
Gene Arensberg: Futures trading positions hint at strong rises for gold, silver 
Big investment houses that trade gold and silver are extremely vulnerable to a short squeeze, the Got Gold Report's Gene Arensberg writes today after more review of the latest futures trader positioning reports. "Our view," Arensberg writes, "is that gold and silver are in the formative, difficult-for-many-traders-to-believe stage of a nascent but powerful bull market. We believe that gold and silver are beginning to price in something ahead -- something we cannot yet see clearly but that nevert
Sunday, July 20, 2014
Jeffrey Lewis
Silver Before it’s Too Late 
The ongoing plight of the long term value investor continues - seemingly without end. However, decades of exuberance and greed have colluded. The financial establishment has created an accident waiting to happen. The mainstream has not "priced in" risk, which makes it even harder to travel the road less traveled.And once the accident happens, it may be too late.If silver prices were to suddenly move back toward natural price equilibrium, there would naturally (not always the best thing) be a rus
Sunday, July 20, 2014