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| RATIOS & INDEXES |
| Gold / Silver | 61.09 |
| Gold / Oil | 14.35 |
| Dowjones / Gold | 11.16 |
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 | Most read |  |
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 | Ranting Andy - Miles Franklin |
| Another Gold Take Down With A Twist |
| Gold and silver reversed some of their losses yesterday. The silver supply is still tight. Andy Hoffman spoke to Kerry Lutz of the Financial Survival Network about another credit downgrade by Moody’s, US debt, and the metals markets.
Andy Hoffman – Another Gold Take Down With A TwistTuesday, May 21, 2013 |
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 | Mish - Global Economic Analysis |
| What Is California Attempting to Hide? |
| An interesting article on a recently passed law in California came my way today regarding Obamacare secrecy in California.
Please consider California exchange granted secrecy.
A California law that created an agency to oversee national health care reforms granted it broad authority to conceal spending on the contractors that will perform most of its functions, potentially shielding the public from seeing how hundreds of millions of dollars are spent.
The degree of secrecy afforded Covered CaTuesday, May 21, 2013 |
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 | Jeffrey Lewis |
The Last Investable Moment for Silver  |
| In the context of the current U.S. Dollar valuation bubble, silver’s eventual price rise seem inevitable.This paper currency bubble commenced with a desperate flight to quality, despite the fact that the U.S. Dollar had been an intrinsically worthless currency since it was taken off the gold standard by Nixon in the early 1970’s.Silver is one of many sought after investment choices when risk aversion is high. What makes it a convenient choice happens to be that the metallic commodity has specialTuesday, May 21, 2013 |
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 | Bron Suchecki - Perth Mint |
| Precious metal memes |
| I'm having a debate with The Daily Bell over their assertion that "physical gold and its delivery will cost you up toward US$2,000" in the comments to this article of theirs. Readers of this blog I think will find it interesting, as well as the diversion into questions about the Germany repatriation and central bank transparency. I also questioned their view that the London Fix was not a free market in the comments to this article.
The thing about The Daily Bell is that they track and look behiTuesday, May 21, 2013 |
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| Mish - Global Economic Analysis |
| Merkel Pins Cameron in Corner; Will Cameron Bury His Head in the Sand, Pretending to Not Notice? |
| UK prime minister, David Cameron, promised to hold a referendum on whether Great Britain should remain in the EU, but only on two conditions. The first condition, that Cameron be re-elected as prime minister is iffy enough.
The second condition, that Cameron renegotiate the Lisbon Treaty, I said would never happen. And it won't.
German Chancellor Angela Merkel sealed the fate on that score as Berlin plans to streamline EU but avoid wholesale treaty change.
Berlin is drawing up plans for treaTuesday, May 21, 2013 |
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| Ranting Andy - Miles Franklin |
| Total Cartel CONTROL Over Media & Markets |
| Andy Hoffman speaks with the SGT Report about the IRS scandal, Benghazi, and the manipulation of the markets and media:
Total Cartel CONTROL Over Media & Markets — Andy HoffmanMonday, May 20, 2013 |
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 | Alasdair Macleod - Finance and Eco. |
| Bank balances and gold |
| There has been a growing shift in favour of assets relative to bank deposits. This was initially encouraged by zero interest rates, but more recently there is little doubt that Cyprus’s bail-in has accelerated the trend. This explains the bull markets in bonds and equities, which conveniently underwrites the entire banking system. It is however too early to offer evidence of falling deposit balances held by non-banks and the general public because depositors as a whole have been remarkably complMonday, May 20, 2013 |
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 | John Rubino - Dollar Collapse |
| When Hedge Funds Go Short, Gold Goes Up |
| Bloomberg is reporting on the rising number of hedge funds shorting gold:
Gold
Bear Bets Reach Record as Soros Cuts Holdings
Hedge-fund managers are making the biggest ever bet against gold as billionaire
George Soros sold holdings last quarter and Goldman Sachs Group Inc. predicted
more declines after the longest slump in four years.
The funds and other large speculators held 74,432 so-called short contracts
on May 14, U.S. Commodity Futures Trading Commission data shMonday, May 20, 2013 |
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| Ranting Andy - Miles Franklin |
| $100 Silver, For Starters |
| Read the Friday Afternoon Wrap-Up for 5/17/2013 and the Monday Morning Commentary for 5/20/2013
Steve St. Angelo – a/k/a “SRSRocco”; is BY FAR, the best “nuts and bolts” mining analyst out there. Utilizing actual research – as I did as a buy- and sell-side equity analyst from 1996-2005 – he puts together the best forensic arguments for PM undervaluation in our world. And I’m not talking about the vast undervaluation caused by non-stop Cartel SUPPRESSION; but instead, calculations of the marginMonday, May 20, 2013 |
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| Mish - Global Economic Analysis |
| Folly of Preserving the Euro at All Costs; Should France Lead Breakup of Euro? |
| The Local, a website with German news in English reports Economists warn against German euro exit.
“Even a believable rumour that Germany would exit the euro would result in a massive capital flight from the countries of southern Europe to Germany.”
The southern European banking system would then collapse, bringing down entire economies with them, Schmieding said.
The consequences for Germany would be severe. The crisis countries could no longer pay back their debt and Germany’s important exSunday, May 19, 2013 |
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| John Rubino - Dollar Collapse |
 Velocity of Money and the Crack-Up Boom |
| Based on both recent history and mainstream economic theory the past few years
should not have been possible. When you cut interest rates to near-zero, run
deficits of 10% of GDP and buy up every government bond in sight with newly
created currency, you get a boom, end of story. That's just the way capitalism
works.
But this time was different. After four years of QE and ZIRP and all the other
easy-money acronyms, we entered the month of May with Europe in a deepening
recessionSunday, May 19, 2013 |
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 | Jesse - Le Café Américain |
| Registered Gold At the Comex |
| The extreme lows in registered inventory tend to mark the beginnings of major advances higher.Saturday, May 18, 2013 |
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 | Bob Hoye - Institutional Advisors |
| The Greatest Garbage Market in History |
| Australian PMI plunged 7.7 points to 36.7, which is the lowest in 4 years.
"Automakers are giving subprime buyers the most long-term loans in
at least eight years."
"Asset-backed sales linked to auto-debt are surging".
- Bloomberg, May 1
"The Market CDX North American Investment Grade Index, aSaturday, May 18, 2013 |
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 | Antal E. Fekete - Gold University |
| How to protect one’s pension with Gold |
| Greed is as old as human race. The last time it overtook husbandry in the realm of gold was over 35 years ago. In 1968 you could still buy gold at $35 per oz. The price had not changed for 35 years, since 1933, in spite of six years of depression; six years of World War II; six years of Marshall give-away; six years of Korean War; six years of escalation of the Vietnam War; the Berlin blockade, the Cuban missile crisis and other Cold War battles. All these historic events have contributed to monetary depreciation in the order of 75 percent. The gold mining industry was badly hurting. Yet it kept producing and selling gold at break-neck speed as if there was no tomorrow. The gold producers of the 1960s, just as those of today, were doped by the paper-money magic. They were coaxed out of their possession of a real asset to exchange it for a phony one. In giving it up at a ridiculous price they were unwitting stooges helping postpone the day when gold could break its shackles. Nobody then or since has bothered pointing out the folly of the inmate who would ingratiate himself to the jail-keepers by assisting them to make his yoke heavier.Saturday, May 18, 2013 |
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 | Gary Dorsch - SirChartsAlot |
| How High can the US$ Fly versus Japan's Yen? |
| The Wise Sages of Ancient days used to say, "The fate of a Liar, is that nobody
believes him, - even when he's speaking the truth!" Such is the predicament
of Japan's propaganda artists, including the Prime Minister, the Finance minister,
and central bank chief, who are all trying to cover-up their boldest scheme
yet, to crush the value of the Japanese yen, against the currencies of its
major trading partners. On May 11th, the finance chiefs of the Group of Seven
(G-7) gave Tokyo theSaturday, May 18, 2013 |
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 | Rick Ackerman |
| 1600-Point Dow Surge Looking Increasingly Likely |
| Based on the S&P 500’s brash behavior lately, effortlessly blowing past Hidden Pivot resistance points major and minor, we wrote here recently that the fuse could be lit for a 130-point explosion. That would be equivalent to a Dow move of about 1000 points – a spectacular surge, especially if it were to occur over a period of, not months but weeks. However, a coldly dispassionate look at the Dow’s monthly chart bolsters the case for an even bigger rally – a 1600-point moon shot. That would brinSaturday, May 18, 2013 |
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 | Deepcaster |
| Biggest Bubble About to Burst |
| "Nothing is normal: not the economy, not the financial system, not the financial markets and not the political system. The system remains still in the throes and aftershocks of the 2008 panic and the near-systemic collapse, and from the ongoing responses to same by the Federal Reserve and federal government. Further panic is possible and hyperinflation is inevitable. "The economic and systemic solvency crises of the last eight years continue. There never was an actual recovery following tSaturday, May 18, 2013 |
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| Bullion Vault |
| Bullion Pension Funds "Selling Gold ETFs", Dollar Weakness Seen Offering "Only Hope" Short Term |
| GOLD PRICESfailed to hold a rally above$1380 per ounce in London on Friday morning, trading 5% down for the week as worldstock markets held steady.Both the Euro and British Pound also cuttheir mid-week rallies against the Dollar, holding gold prices at ?1070 and £904per ounce respectively.New data overnight showed Japanese machineorders leaping 14% in March from February, while China's leading economic indexrose slightly for last month.Eurozone construction output sank 8% in Marchfrom a year earFriday, May 17, 2013 |
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 | Julian D. W. Phillips - Gold Forecaster |
| Gold & Silver Market Morning: May 17, 2013 |
| Gold Today - The gold price continuedto fall in New York to close at $1,386.70. In Asia the gold price pulled backfurther to $1,376 ahead of London's opening today.In London it Fixed at $1,376.75 down $0.25 onyesterday and in the euro at ?1,069.15 down ?0.75, while the euro was muchweaker at ?1: $1.2877. Ahead of New York's opening it stood at $1,376.00 and inthe euro at ?1,068.99.Silver Today - Silver closed at $22.69,in New York yesterday up 16 cents. Ahead of New York's opening silver stood aFriday, May 17, 2013 |
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| Mish - Global Economic Analysis |
| How Clueless Are Manufacturing Future Expectations? |
| Month in and month out I see unwarranted optimism in Europe and in the US.
For example, on Thursday I stated "Philly Fed Slips Into Contraction (Again); Current Conditions Recessionary, Future Expectations Far Too Optimistic".
Here is the chart I posted:
That chart got me to wondering "just how wrong are future expectations historically?" The data is available, all one has to do is chart it.
I asked Doug Short at Advisor Perspectives if he could produce a chart of future expectations offseFriday, May 17, 2013 |
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| Jesse - Le Café Américain |
| The History of the Johnstown Flood: Audacious Oligarchy, Reckless Disregard |
| The history of the Johnstown Flood of 1889, at that time the worst natural disaster in the US as measured by loss of life, is little understood these days, but quite fascinating.
A group of about fifty wealthy 'robber barons' took over an old dam which had been used as a reservoir for a canal system, and used it to create a lake resort for their private pleasure. It served as a weekend retreat from the heat and noise of nearby Pittsburgh.
Prior to selling the dam to them, the owner, a ConThursday, May 16, 2013 |
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| Jesse - Le Café Américain |
| Let's File This Email About Greenspan and Replicating the Gold Standard Under 'Irony' |
| I found this little gem, and added it to my collection of reminders that Greenspan said that fiat money 'worked' because central bankers had learned to 'replicate' the gold standard through their policy actions. I had said 'emulate' but perhaps that was a quirk of memory.
This is from a publicly published note by Jude Wanniski titled Savings Glut.
From: Jude Wanniski < jwanniski@polyconomics.com
To: Ben.S.Bernanke@ * * * * *.GOV
Subject: Fwd: Re: Savings glut
5:44 pm, 7/21/2005
"GThursday, May 16, 2013 |
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| Hubert Moolman |
| Silver Price Forecast: Silver and the Dow |
| Silver Price Forecast: Silver and the Dow
The Dow making new highs is likely to be very good news for silver investors, because nominal silver peaks tend to come after significant nominal peaks in the Dow. These stock market rallies are driven by the expansion of the money supply, causing a big increase in value of paper assets (including stocks) relative to real assets.
When the increase in credit or the money supply has run its course, and is unable to drive paper price higher; value then fleThursday, May 16, 2013 |
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| Julian D. W. Phillips - Gold Forecaster |
| Gold & Silver Market Morning |
| Gold Today - The gold price tumbled again in Asia after New York selling pushed the gold price down to $1,392.70 down $33 from New York ahead of London's opening today.In London it Fixed at $1,377.00 down $45.25 on yesterday and in the euro at ?1,070.01 down ?24.5, while the euro was much weaker at ?1: $1.2869. Ahead of New York's opening it stood at $1,376.20 and in the euro at ?1,068.93.Silver Today - Silver closed at $22.53, in New York yesterday down 83 cents. Ahead of New York's opening silThursday, May 16, 2013 |
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 | George F. Smith - Barbarous Relic |
| Wildcat Inflation Fighters |
| Summary: Though banking and government have had a corrupt relationship throughout history, the Suffolk Bank and Independent Treasury System, both of which were prominent during the “wildcat banking” era of the 19th Century, represent significant efforts at reform.
In his 1994 book,Money Mischief: Episodes in Monetary History, Milton Friedman, never a champion of a gold commodity monetary system in spite of hisdisillusionment with fiat money regimes late in life, tells us that:
Throughout recorded history .Thursday, May 16, 2013 |
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| Jesse - Le Café Américain |
| As a Reminder, the Fed Is NOT Printing Money |
| “So that the question is: Would there be any advantage, at this particular stage, in going back to the gold standard? And the answer is: I don't think so, because we're acting as though we were there.
So I think central banking, I believe, has learned the dangers of fiat money, and I think, as a consequence of that, we've behaved as though there are, indeed, real reserves underneath the system."
Alan Greenspan, 20 July 2005
Yes that's right. The Fed is NOT printing money.
It is 'retiring Thursday, May 16, 2013 |
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| Ranting Andy - Miles Franklin |
| Getting ‘Rich’ Or Avoiding Poverty? |
| Read the Wednesday After Wrap-Up for 5/15/2013 and the Thursday Morning Commentary for 5/16/2013
Watching the Silver Circlemovie, a key theme I have long written of was in full focus; as Pasha Roberts depicted what a hyperinflationary 2019 America might look like. That is, that PHYSICAL gold and silver are not purchased to “get rich”; but instead, to insure against the inevitable destruction of fiat currencies…
Research Shows ALL Paper Money Systems Failed
This is because the “HOLY GRAIL OF THEThursday, May 16, 2013 |
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| Mish - Global Economic Analysis |
| Brussels Puts Spain Under Surveillance; Brussels Denies Putting Spain Under Surveillance |
| Here is an amusing set of back-to-back headlines regarding Spain.
Via Mish-modified Google translate from La Vanguardia Brussels Puts Spain Under Surveillance for Economic Imbalances
Spain will be placed under European supervision and its political leeway in deciding what reforms the economy agree will be reduced.
European monitoring will take place in the labor market and a review of the pension system and some economic reforms from now must be agreed with Brussels. Spain gets "two extra yeThursday, May 16, 2013 |
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