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overtheedge - 2/1/2015 at 8:14 PM GMT
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 When Even the Fed Is Confused, We Still Have Some Work To Do
 - Nathan Lewis - New World Economics
Good article.
I find it interesting that annual gold production runs about 1.5-3%
Now consider the CB's desire to maintain an annual 2% inflation rate.

On your calling a spade a spade issue, consider the difference between elasticities under a gold-tied policy and fiat.
As you pointed out, elasticity existed prior to 1971 under the gold-tied system.
The problem I see was under the gold-tied system, the system tells on itself. The evidence is hard to hide. In effect, there were limits to expansion.
Under fiat, the metrics can be bent to suit the policy.
Also under a fiat system, the shear complexity overwhelms the ability for Joe Average to comprehend.
This is no reflection on Joe Average. Just consider the number of PhD Economist... 
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overtheedge - 2/1/2015 at 7:33 PM GMT
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 Why Are Central Banks Terrified of Debt Restructuring?
 - Phoenix Capital - Gains Pains & Capital
Thank you for explaining this far better than I could.
Perhaps a few of the "deflation" religious fanatics will finally recognize there is NO deflation nor will there be.
The great fear is collateral asset depreciation.

When the valuation of the collateral goes down, expect a margin call.
Either cover or get closed out.
Now factor in counter-party exposure (derivatives anyone?) and the whole system can take a serious dump.

Oh! Redefining words is NOT within anyone's sphere of authority.
Nor is it within the capacity of central bankers.
There exists only one logical reason to redefine economic terms: willful and intentional obfuscation.
Remember, cui bono?

Inflation and deflation are clearly defined using a child'... 
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user4779 - 2/1/2015 at 5:52 PM GMT
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 When Even the Fed Is Confused, We Still Have Some Work To Do
 - Nathan Lewis - New World Economics
Great article! Will you please do a follow-up article on precisely how a fixed ratio can be maintained---the right way and the wrong ways---and perhaps a third article on the implications for the spending and fiscal policy of the government? 
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Doom - 2/1/2015 at 5:46 PM GMT
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 Job Site of the Future: Unmanned Bulldozers and Drones for Routine Construction
 - Mish - Global Economic Analysis
Exactly! That's why the cotton gin and industrial steel mills closed down immediately and had no effect on the economy. Oh, wait. Nvm. 
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Answer To :rhaacke - 1/26/2015 at 3:36 PM GMT
All this fear of automation taking over jobs is completely unfounded. It will never be possible for machines to make everyone unemployed. If everyone were to somehow be replaced by a machine then there would be no one with any money to buy what the machines produce and therefore no reason for the machines to produce anything in the first place.
 
user4779 - 1/30/2015 at 1:36 PM GMT
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 Marine Le Pen Soars Into Lead in French Presidential Polls for 2017; Don't Worry, Nothing Can Possibly Go Wrong
 - Mish - Global Economic Analysis
Some of the polled people must be voting for 2 presidents: the combined votes total at least 134%. 
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Doom - 1/26/2015 at 5:30 PM GMT
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 Koos Jansen: India's silver exports rose to record in 2014
 - Chris Powell - GATA
Heh, the title doesn't match the subject. I would have been shocked if India was really exporting silver, much less exporting a record. 
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overtheedge - 1/24/2015 at 12:34 AM GMT
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 Dollar Denial Ain't Just a River  (3)
 - Jeffrey Lewis - 
"It all comes back to preparing for the worst, and letting the best take care of itself. Easy to say - hard to implement. "

"Therefore, we accumulate on dips as usual and nurture the only part of a portfolio that is real and independent of liability and free of risk. "

There is a problem with your plan.
If a person thinks there will be a substantial need to protect their wealth by purchasing and storing PMs, what happens if there are no meaningful dips leading up to the global economic reset?

Perhaps a far better choice is a regular purchasing routine that allows for substantial purchases "IF" PMs should experience a drop in prices.
Otherwise, no dip, no accumulation.
Maybe the best choice is buy when you have the money. Price b... 
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neville - 1/22/2015 at 2:45 AM GMT
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 Jim Rickards: Gold price manipulation is now a global effort to appease China
 - Chris Powell - GATA
One of the hardest things an aquirer of a huge amount of stocks on any bourse would encounter would be the dealers /traders around him getting a whiff of just how big his order is.That said,China or any other sensible country like them who as it is known are huge buyers could never have had it so easy ,what with those blithering idiots in america depressing the gold price for them so that they quite rightly so pick up as much CHEAP FIRE SALE GOLD TO THEIR HEARTS CONTENT...
P.S. That goes for any other country WISE ENOUGH to know that GOLD IS THE ONLY MONEY YOU CAN TRUST.
Thnaks Chris/GATA and other supporters of GOLD for the effort you have put in ,in promoting the BIGGEST INSURANCE against western financial TYRANY 
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user4779 - 1/21/2015 at 10:36 PM GMT
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 German repatriation - trainspotters only
 - Bron Suchecki - Perth Mint
Very good article. Thank you. 
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carrierpigeon - 1/21/2015 at 12:49 AM GMT
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 Grand Experiment Failure; Bankers Prefer Bubbles; Europe is not USA; Final Epitaph
 - Mish - Global Economic Analysis
About 2 percent of Americans get paid the minimum wage. Of that group, by the way, less than .3 of 1 percent of Americans are both under the line of poverty and on minimum wage. So it's a lot of young people. About 50 percent of them are between 16 and 24 years old. For a lot of them, it's a part-time job. 
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Answer To :relayer - 1/18/2015 at 1:34 AM GMT
Mish says "There will be a trend reversal in the US back towards the norm on savings" and "The savings rate in the US has only one way to go and that is up."

And what norm might that be? How about the present 4.4 percent. More and more retirees spending their savings.
Where are the jobs going to come from to boost savings? Not McDonalds.

Looks like you can rule out sooner to me.
 
overtheedge - 1/19/2015 at 9:18 PM GMT
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 Swiss Peg Removal: Did Anyone Win?
 - Mish - Global Economic Analysis
Wow!
I would tender the argument that it is far too early to think about winners.
Admittedly I have avoided the FX market, but I do have questions that will be answered in the fullness of time.
However I don't wanna wait, so here goes.

As many folks have found out, not all debts are settled just because the item was repossessed or the keys returned to the bank.
There is an ugly little clause in many contracts that allows for deficiency judgements by the courts.
Effectively the holder of the paper comes back with a monetary claim against the debtor for the amount of money value that is the difference between owed and realized.
My question is, "In the FX market, do the contracts allow for deficiency judgements against the gamblers who ... 
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samking73 - 1/16/2015 at 3:17 AM GMT
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 Market Chaos as Swiss Franc Surges 30% In 13 Minutes, Gold Rises Sharply
 - Mark O'Byrne - gold.ie
Am I missing something here? The title and also the article in general says the franc surges up. But a few sentences in to It then says "the franc 'collapsed' by 30%". What? 
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samking73 - 1/15/2015 at 9:51 PM GMT
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 Uncensored: Shocking Graphic Video: Islamic Terrorists Kill Paris Cop, 11 Others In Muhammad Revenge Raid
 - Mac Slavo - ShtfPlan
I'm not going to say this was not staged, because I know Govts, especially mine (U.S.) have pulled off a few large false flag events to further their agendas just recently. I do know that even if this AK were firing blanks they would have to be very careful not to injure the policeman anyway. Blanks propel hot gasses, unburned powder and cardboard/wadding material at high velocities, possibly enough to be deadly within a few feet of the rifle muzzle. So a point blank shot to the head with even a blank cartridge would be quite serious. I also know what you mean about the missing blood though. It is very strange. False flag....Possibly a good call on your part? 
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Answer To :Cameron Waugh - 1/9/2015 at 9:24 AM GMT
"weapon in the heads of a law abiding citizen" I understand you meant "hands" Mac, perhaps you were still thinking about that brutal shot point blank to the head of that policeman. Sickening indeed. My question, having been acquainted with firearm use since i was old enough to demonstrate responsibility to my father, is, where is the blood ? I am not familiar with modern auto loading weapons, but was that AK recoil-less ?
I have been out many times with professional kangaroo shooters and i can tell you first hand what happens to a head when impacted by a high velocity .22 caliber. It's messy, very messy. Instantly. The AK is 30 cal. right ?
A professional roo shooter might shoot 100 in a night, depending on the season and country. I got sick of all the blo...
 
samking73 - 1/15/2015 at 9:16 PM GMT
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 Gold Daily and Silver Weekly Charts - Gold Makes a Move to Break Out
 - Jesse - Le Cafe Américain
I simply tied a string to my PMs with a bell attached, so if they get "feisty" and try to "break out", I will hear the bell jingle before they hit the door. 
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Answer To :overtheedge - 1/13/2015 at 3:35 AM GMT
"Gold Makes a Move to Break Out "
"We will have to see how gold follows through ... ,"
"Silver moved higher as well, but was not showing the type of feistiness that we would expect ... ,"
"It was nice to see gold take out the 100 DMA ... ,"

I ran to check my stacks.
Real concern. -8°C and 30cm of snow. Days are still real short up here at 62°N.
If they make it to the door, I'll have to put batteries in the metal detector and chase after them. Where's my headlamp?
Nothing so far, but I installed a 10GHz motion detector just in case my PMs got, shall we say, feisty?
Mayhaps my PMs are just resting up.
Lotta folks say you can't trust them PMs to remain stable like our currency.

No, not gonna ding you tonight.

T...
 
William Tan - 1/13/2015 at 4:23 AM GMT
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 The Road To War With Russia  (4)
 - Chris Martenson - 
The people of Crimea has a right to vote for self determination. The world knows who's lying and who's the bad guy. Once bitten twice shy is an understatement. The world has been ' bitten' 3 times and no longer shy about telling the propaganda press off. There's no truth nor trust amongst world powers. It's just national interests and any amount of humanist debate is not going to change it. It's a fractious and precarious world now. It's being realigned amongst those with "common" agendas and economic interests.  
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overtheedge - 1/13/2015 at 2:35 AM GMT
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 Gold Daily and Silver Weekly Charts - Gold Makes a Move to Break Out
 - Jesse - Le Cafe Américain
"Gold Makes a Move to Break Out "
"We will have to see how gold follows through ... ,"
"Silver moved higher as well, but was not showing the type of feistiness that we would expect ... ,"
"It was nice to see gold take out the 100 DMA ... ,"

I ran to check my stacks.
Real concern. -8°C and 30cm of snow. Days are still real short up here at 62°N.
If they make it to the door, I'll have to put batteries in the metal detector and chase after them. Where's my headlamp?
Nothing so far, but I installed a 10GHz motion detector just in case my PMs got, shall we say, feisty?
Mayhaps my PMs are just resting up.
Lotta folks say you can't trust them PMs to remain stable like our currency.

No, not gonna ding you tonight.

T... 
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overtheedge - 1/11/2015 at 7:46 PM GMT
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 The Road To War With Russia  (4)
 - Chris Martenson - 
I prefer the Occam's Razor analysis.

Any Balkanization of Ukraine will result in clouding the titles of the collateral.
Compound that will a disruption of tax revenue streams. What direction does the tax monies go? East, west or stays within the break-away region?
We already know Ukraine is a financial basket case.
This is predominantly all about salvage rights.
Kicking Russia and Putin is just smoke and mirrors.

Wars are fought over resources.
Ideology is the tool by which you drag an ignorant, stupid animal known as the public into supporting a war.
Who pays and who reaps the rewards?
 
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Gypsy - 1/11/2015 at 2:31 PM GMT
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 The $100 Trillion Reason Why Central Banks Are Terrified of Debt Deflation
 - Phoenix Capital - Gains Pains & Capital
There are some relevant facts to know about Japan that should clear up a LOT of this mystery. At the end of World War Two; Japan gave a COMPLETE and UNCONDITIONAL Surrender. At that point, Wall Street took COMPLETE control of Japan. You can draw all kinds of conclusions from that. Does anyone really think the Japanese would destroy their own economy in the way this has all gone down ? Deception 1.0

On the other side of the coin: those in complete control of Japan's economy have managed to "milk this situation" for thirty years ! ! Don't you imagine it's possible those Banksters have figured "we made it work in Japan for thirty years ~ we can do this same QE and Zero Interest Rate Policy ALL OVER THE WORLD for Thirty Years" ? Japan was/is their Experime... 
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prljr - 1/11/2015 at 2:09 PM GMT
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 Uncensored: Shocking Graphic Video: Islamic Terrorists Kill Paris Cop, 11 Others In Muhammad Revenge Raid
 - Mac Slavo - ShtfPlan
Maybe he was using bloodless bullets? 
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overtheedge - 1/10/2015 at 2:44 AM GMT
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 Under or Unreported 2015 Opportunities, Threats, & Possible Catastrophes
 - Deepcaster - 
"Great Profits will be made if one shorts the $US and U.S. Treasuries and the Equities Markets at the right time. "

If we assume that $US, UST and the equities markets will collapse,
and if we short them in just the nick of time,
what currency is gonna provide us with a nice return in purchasing value when we buy to cover our shorts?

Are you suggesting it is far better to take the nominal profit, pay the taxes and wallow in worthless currency ala Scrooge McDuck?
Couldn't I just buy a case of barbecue potato chips, a case of zinfandel wine and a dozen condoms instead?

 
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overtheedge - 1/10/2015 at 2:06 AM GMT
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 January 8: Andrew Jackson Day Remembered  (19)
 - Jesse - Jesse's Cafe
You eulogized the thief. 
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overtheedge - 1/10/2015 at 1:40 AM GMT
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 PANIC MODE!
 - Andy Hoffman - Miles Franklin
"... or you could pull 3 x 15 kilo slabs of silver out of your back pocket ..."

Your britches and belts must be made of far better stuff than Levis and harness leather.

 
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overtheedge - 1/10/2015 at 1:22 AM GMT
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 Wading Through Molasses: "Did the Real Economy, Not Counting Government, Expand in Last 20 Years?"
 - Mish - Global Economic Analysis
"All of the hyperinflation calls have been missed by a mile."
So far, so good until ...
The greatest problem faced by investigators is their own biases.
Given the above statement, is it rational to completely discount the possibility? 
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Cameron Waugh - 1/9/2015 at 8:24 AM GMT
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 Uncensored: Shocking Graphic Video: Islamic Terrorists Kill Paris Cop, 11 Others In Muhammad Revenge Raid
 - Mac Slavo - ShtfPlan
"weapon in the heads of a law abiding citizen" I understand you meant "hands" Mac, perhaps you were still thinking about that brutal shot point blank to the head of that policeman. Sickening indeed. My question, having been acquainted with firearm use since i was old enough to demonstrate responsibility to my father, is, where is the blood ? I am not familiar with modern auto loading weapons, but was that AK recoil-less ?
I have been out many times with professional kangaroo shooters and i can tell you first hand what happens to a head when impacted by a high velocity .22 caliber. It's messy, very messy. Instantly. The AK is 30 cal. right ?
A professional roo shooter might shoot 100 in a night, depending on the season and country. I got sick of all the blo... 
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  3  0  Rating :  3 
 
S W. - 1/9/2015 at 7:44 AM GMT
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 PANIC MODE!
 - Andy Hoffman - Miles Franklin
The author has been in Panic Mode for years.
Just run on down and get PM's from the firm he works for and you will be safe and secure, ad nauseum.
Maybe he will be correct this year as markets crash.
PM's ,thats another story.
Cash is king in a crisis, likely followed by junk Silver coins.
A kilo of gold…I guess you could buy a house somewhere in USA as prices collapse or you could pull 3 x 15 kilo slabs of silver out of your back pocket at house auction on the hammer and see if the vendor will accept.

The way he portends the future I cannot figure why he still lives in the USA. 
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Argus - 1/6/2015 at 3:10 PM GMT
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 A Cool Interval  (6)
 - James Howard Kunstler - 
Spot on. I would like to add a quote from Jacques Barzan - "Political correctness does not legislate tolerance; it only organizes hatred".
I believe there is a strong undercurrennt of interracial goodwill among ordinary Americans which is perverted by the windbags, academics and mass media. Let us pray it thrives. 
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user4779 - 1/8/2015 at 12:00 PM GMT
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 Chinese gold demand and SGE withdrawals: the role of leasing and inventory changes
 - Bron Suchecki - Perth Mint
Yes, but your argument works both ways. Suppose that retail demand slackens, and the jeweller decides to let inventory run down. He doesn't buy his 100 oz for a month or so. Then wholesale demand underestimates retail demand (which is still continuing, albeit at a somewhat slower rate). In the long run, the error averages to zero. The only way to get a really accurate measure of retail demand is to measure it directly, which may be difficult. Anyway, wholesale demand isn't a bad proxy for retail demand. The former has a predictive element, which tends to smooth it. Retailers' predictions will sometimes be wrong, but they are more likely to be right than those by analysts who do not meet the end buyers. 
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overtheedge - 1/8/2015 at 5:45 AM GMT
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 Secrets of the Manor House: From the Edwardian To the Modern
 - Jesse - Le Cafe Américain
Common man since the dawn of written history is a serf.
Current history of the so-called common man is an anomaly.
As it was, so shall it be again.
Oh and just for your serious consideration, just what skills do you have that will elevate you from the common serf?
Oh yes sir, coming to a theater of operations near you.

The manor is the business model.
Always was, will be so again.

Serfs are serfs because they lack the ability to achieve wealth.
Key word is ability.
Ability is NOT skill.
Ability is NOT knowledge.
Ability is determination.

The decline in aristocracy is transient.
Most of those who we presume to be wealthy aren't.
In the land of the frozen chosen due north of 60° latitude, where it f... 
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overtheedge - 1/8/2015 at 4:03 AM GMT
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 Widespread Deceptions & Hall of Mirrors  (4)
 - Jim Willie CB - Hat Trick Letter
Finally the Jackass shut the hell up about HAARP.

"US begins with sponsored BitCoin entries, which are controlled by Wall Street and Langley, used to co-opt a legitimate movement which has potential in the near future for gold-backed retail payment system using debit cards."

Remember the US government seized a butt-load of Bitcoins from the Silk Road.
So when you buy, who are you buying from?
Can they trace where the sold Bitcoins went?
Your wallet?
Your purchases?
Do you really think that with all the assets of the CIA that Bitcoin users are running under the radar?

Going back to the quoted sentence, I would like to address the concept of legitimacy.
Some computer geek makes a program that invents a form of money.<... 
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overtheedge - 1/8/2015 at 3:37 AM GMT
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 Eurozone Falls Into Deflation; ECB About to Do Something Stupid
 - Mish - Global Economic Analysis
"What central bankers "ought" to fear is asset-price deflation, not routine price deflation. "

Wrong again.
Deflation and inflation are purely monetary quantity matters.
Asset prices dropping means the quality of the collateral is dropping.
The loan officer might be experiencing a severe loosening of the bowels, but ...
The quality of the collateral means absolutely nothing as long as the debt is being serviced.
Falling prices means profits are falling which directly affects the ability to service debt.
 
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