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timrichmond - 1/25/2017 at 3:51 PM GMT
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 He Is Risen… But For How Long?  (10)
 - James Howard Kunstler - 
The Deep State is corrupt, dysfunctional, and fraudulent .... in the extreme. Donald Trump is not perfect, but he is our best and possibly last chance to bring the Deep State to heel; to take this nation back from the legion of unelected bureaucrats who have spent the last 3+ decades running it into the ground. Obama was the perfect lap dog for the Deep State .... did what he was told, and primarily weighed in on issues related to identity politics, which allowed the Deep State to continue their multi-faceted malfeasance unhindered. I find it unusual and ironic that : 1) The Left and DNC have totally abandoned labor and the American worker, and 2) Trump accomplished more for the American worker in 10 weeks as President-elect, than Obama did in 8 years. Godspeed Donald Trump. 
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ramasart - 2/8/2017 at 1:47 PM GMT
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 Learning to Prosper in Silver - Jeff Nielson  (6)
 - Sprott Money - 
How long can this manipulation continue before people figure it out and the market explodes? I've been shocked that it has lasted as long as it has. 
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kevthorne - 2/10/2017 at 11:59 AM GMT
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 How to stop the Depression  (6)
 - Antal E. Fekete - Gold University
And then do away altogether with the 'get something out of nothing' (ie: not working for it) lunatic's idea of 'interest'. Take out a loan today, and you'll get charged 'interest' at some arbitrary percentage, decided only by the lender. The fiat money to pay the interest is not created; only the principal is. So begins the contraction of currency supply. On a gold standard it follows naturally that interest cannot be charged on a loan, because unlike fiat currency, gold cannot be created from nothing, so the 'interest' shenanigans won't work. Human nature will always want a free lunch - guess that's why the finances are in such a mess, now. 
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Answer To :dom1971 - 2/10/2017 at 1:28 AM GMT
A manual financial reset like this? I'm no expert but I can't imagine such a move would be wise.

Firstly, anybody with prior knowledge of such an event would be able to accumulate free assets limited only by their borrowing capacity. We would have a cacophony of corruption and abuse preceding the "event" that dwarfs what we're seeing nowadays. This can't just be "sprung" on the world economy, it needs discussion and planning and that means some people will know beforehand. For interests sake lets imagine that it can.

Effectively this move instantly transfers all wealth from the creditors to the debtors. Every creditor would almost certainly be facing bankruptcy, while every debtor would find themselves instantly wealthier. Everywhere from the mega (international) scale right down to the individual.

A century or so of absolute financial idiocy would likely ensue. At the private level we've taken all the assets from financially experienced individuals and entrepreneurs and put it in the hands of monetarily-challenged folks who need to borrow to survive. On the international level its the same. Taking wealth from hard-working nations and giving a clean slate to nations with poor productivity/consumption ratios - or worse still making them the new creditors (at least for a time).

What of the people? The poor would of course remain poor, since they do not (and cannot) hold much debt - they stand to gain little but will lose much in trying to survive the crisis. The middle classes will get their home loans written off so there will be little motivation for them to be productive - they'll retire early on masse and create a serious gap in the educated workforce worldwide. The rich will remain rich because they have capital. The banks would mostly perish in flames or close up shop and flee such catastrophic turmoil.

But that's OK... the new world order will free up capital and make it available to the poor... how? We just destroyed every bank and lending facility on the planet by stripping them of their debt assets. What's more the very idea of "investing" into creating new ones becomes incredulous - who the heck would ever want to start a lending business in a world where financial resets are the new norm?

But lets step back even further and look at the new global system as a whole. The current (albeit hugely flawed) system of fiat currencies is based on debt. Money is born in debt because a promise is made to (create the productivity to) eventually repay it. The "promise to pay the bearer..." printed on each note, well that was written off with all the other debts too. Not to mention the reserve bank making that promise is quite possibly insolvent/dead too. Without the platform of debt there is nothing holding up the "value" of the paper currencies floating (pun intended) around the world. Dollar bills, Deutschmarks, Francs etc. become (even more) meaningless pieces of paper. When people realise that then it will matter not what preceded it. Debts denominated in currencies of no value have no meaning, no matter who holds them.

We may as well just cut to the chase and just implement a gold standard. The fiat currencies will die a slow death as it gathers momentum. The fiat debt will die with them, only without the turmoil of an "overnight reset". The parasites that sucked the world dry through the fiat system will detach from their host and die.
 
Rosscoe - 2/19/2017 at 11:14 PM GMT
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 “That War You Ordered….”  (3)
 - James Howard Kunstler - 
Nice comments James If Trump is as mad as everyone says he is , then anything is possible,but I doubt he is and being a tough hombre, he hates to lose and particularly to a bunch of arrogant beaurocrats in the IC. He knew from the outset this was going to be an almighty shit fight and given the nature of the beast he won't go quietly. He will not be the one to blink first.He'll be ready for it. Draining the swamp doesn't just mean getting rid of lobbyists and interest groups it means getting rid of an over bloated beaucracy that is way off course and illegal bigtime and the electorate does see this. They are his biggest ally for the moment. Yes Hilary and Obama may be burning holes in their phones to support this upset and he will deal with them. He is in the fight of his life. It's going to get ugly ,but I'll back Trumpy . He may not be the most elegant orator,or the idealised head of state to many, but pragmatist and street fighter he is. Give em a good old uppercut! 
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timrichmond - 1/26/2017 at 10:10 PM GMT
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 Trump to Build Wall, Punish Sanctuary Cities, Add 5,000 Border Agents: “Big Day, Mexico Will Pay” Says Trump  (3)
 - Mish - Global Economic Analysis
Sanity has prevailed. I guess you thought he would be like every other politician who are all talk and no action, politicians who conveniently forget about the promises they were supposed to deliver on. You might wish to educate yourself about the man; he has a solid track record of meaning what he says and following-thru on his commitments. Mexico was a significant trading partner. Once most of the jobs that were exported there over the past 2 decades return to the USA, Mexico will be much less significant.  
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ramasart - 2/13/2017 at 1:58 PM GMT
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 Climate Promotion: Seriously Failing  (7)
 - Bob Hoye - Institutional Advisors
The global realization of the scam of AGW (or "Climate change", or whatever it's called nowadays) cannot happen soon enough. I've been speaking for years about "follow the money" and pointing out the hypocrisy, the lies, and the flawed analyses to no avail to the most strident followers. I have stated that this is as much a religion as any ever devised, with the same emphasis of some that all we "non believers" need to perish (or be silenced, somehow). The fact that their "facts" don't add up is immaterial as the belief persists, just like any other religion. The fact that I point out these very "scientists" were claiming we were on the verge of the next ice age just 40 years ago is also met with disdain and derision just adds to my point. Bottom line, let this realization come. Today. Tomorrow would be fine as well.... 
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DRGEORGE - 2/13/2017 at 12:50 AM GMT
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 Amazon Plans Robotic Supermarket Staffed by 3; Chinese Factory Eliminate 90% of Humans, Defects Drop 80%  (4)
 - Mish - Global Economic Analysis
200 years later, the spirit of Ned Ludd lives on - except sam_site doesn't want to smash the machines - he just pretends they aren't there! 
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rbblum - 2/4/2017 at 8:58 PM GMT
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 The Deep State, Trump, and JFK  (9)
 - Nelson Hultberg - AFR.org
And, if friends, associates, or members of the Deep State are unsuccessful to push or prod an unstable wannabe to do their dirty deed in order to get back on track, then there can always be Lee Harvey Oswald Jr. 
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Sam Maher - 2/2/2017 at 8:42 PM GMT
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 Silver 'Undervalued' vs Gold as Dollar Jumps on US Jobs in Trump Rally 'Part 3'
 - Bullion Vault - 
"The GLD has added metal only twice since Donald Trump's victory in November's US election, shrinking instead on 33 of those 51 trading days as shareholders liquidated their positions." I am very skeptical of any data pertaining to GLD's holdings. Paper gold GLD claims to be fully backed by physical gold bullion but yet it refuses to give retail investors the right to redeem for any of these ‘claimed’ gold bullion. This fact alone would mean GLD shares are nothing more than paper at the end of the day. Furthermore, GLD’s prospectus is chalk full of weasel clauses and legal loopholes that allows the fund to get away without the full physical gold backing. One good example of this is the clause that states GLD has no right to audit subcustodial gold holdings. To this day, I have not heard of a single good reason for the existence of this audit loophole. I’ve also verified the following to be true and welcome everyone else to do so: "Did anyone try calling the GLD hotline at (866) 320 4053 in search of numerical details on GLD's insurance? The prospectus vaguely states "The Custodian maintains insurance with regard to its business on such terms and conditions as it considers appropriate which does not cover the full amount of gold held in custody." When I asked about how much of the gold was insured, the representative proceeded to act as if he didn't know and said they were just the "marketing agent" for GLD. What kind of marketing agent would not know such basic information about a product they are marketing? It seems like they are deliberately hiding information from investors." "I remember there was a well documented visit by CNBC's Bob Pisani to GLD's gold vault. This visit was organized by GLD's management to prove the existence of GLD's gold but the gold bar held up by Mr. Pisani had the serial number ZJ6752 which did not appear on the most recent bar list at that time. It was later discovered that this "GLD" bar was actually owned by ETF Securities." 
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Cameron Waugh - 2/1/2017 at 11:17 AM GMT
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 Ireland’s Monetary Gold Reserves: High Level Secrecy vs. Freedom of Information – Part 2
 - Ronan Manly - Bullion Star
How much did they have with the BoE? 
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UltraWoof - 2/7/2017 at 7:31 AM GMT
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 End of Fed Independence! House Financial Services Committee Sends Warning Letter to Yellen “This is Unaccep...
 - Mish - Global Economic Analysis
Hmm, whenever a president or senate locks horns with the Fed, they'll raise interest rates and tighten the money supply, just to show who's boss, and the people will suffer. Isn't that old saw about "Let me control a nation's currency and I care not who makes its laws" still valid? History repeating itself, or somewhat rhyming. See Jackson, Lincoln, Wilson, Kennedy, etc. It's tiresome to witness this. And no, I don't have Parkinson's, I just can't stop shaking my head.  
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ranbotrader - 1/30/2017 at 8:07 PM GMT
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 Should Cash be Abolished?  (4)
 - Frank Shostak - 
"It is held that cash provides support to the shadow economy and permits tax evasion." Are you kidding? Evading taxes? Multinationals and rich citizens around the planet already do that legally with their puppet governments looking the other way. Multinationals are permitted to export their profits to low or nil offshore tax havens and rich individuals are now doing the same. The problem with the above nonsensical statement dressed up as a logical argument is that the rich are engaged in Class Warfare with ordinary citizens and intend to extract every last dollar out of ordinary people whilst at the same time avoiding the real tax system for themselves and their big business financial interests. Your 'esteemed' economic commentator appears to be little more than another mouthpiece of the wealthy running their propaganda to enslave populations. The wealthy are their prospering whilst abusing everybody else. 24 Hour Gold should be ashamed to run this blatant propaganda BS. So who is paying your way......? 
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kevthorne - 2/8/2017 at 11:43 AM GMT
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 Gold Jumps, GLD Expands 4 Days Running, as Greek Debt Crisis Returns for Maastricht's 25th Anniversary
 - Bullion Vault - 
The 25th anniversary of the Maastricht Treaty signing, coincides with the UK's opt-out clause expiration date, exempting her from joining the common currency, now known as the Euro. The choice for her this year was clear: either drop Sterling and join the Euro, or get out of the European Union - Mr. Cameron our Prime Minister, last year gave the public the dubious 'benefit' of a referendum - and got out of the dilemma rather handily. 
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Gypsy - 2/7/2017 at 1:04 AM GMT
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 An Informal, Anti-fake News, Counterfactual, Reality-optional Biography of President Donald Trump, a.k.a. “Wayne Newton”  (4)
 - James Howard Kunstler - 
James; the dance lasted longer than contestants. I don't get it. 
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ranbotrader - 2/7/2017 at 3:16 PM GMT
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 Cut, Don't Reform, Taxes
 - Ron Paul - 
If you are genuine, and I suggest you are anything other than this, then put forward what is needed: an end to the top raping the economy FOR ITSELF. That pretty well is half of the battle. If you want to make the system fair then: 1. close ALL tax loopholes. These are only there for the wealthy to squirrel away their money. 2. make all tax shelters ILLEGAL. This will force multinationals and the wealthy to pay the mandated rate of tax, not export income. This is fraud by any other word! If governments want to put inducements into the tax system then they need to think out how this is going to be abused. The rich will always find ways and means. If there are stringent rules and penalties for those who abuse the system then the system will have credibility. Currently it is a joke. The current calls to lower company taxes to 15% will be the final nail in the good ship (American) Titanic. This will cause it to sink. But never mind.....I am betting that the wealthy bring it on because their greed is more important than the nation itself. Oh by the way Ron.....WHO funded your election campaigns when you were in politics? The taxpayer you claim? I know but kindly tell the readers. 
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ranbotrader - 2/7/2017 at 3:16 PM GMT
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 Carnage of the Middle Class  (6)
 - Michael Pento - Delta Global Advisors
Why didn't you come right out and say it Michael? The prime reason the middle class is being routed is that class warfare is occurring and the money is being taken from the middle class and sent to the already wealthy. Pretty obvious. Workers being replaced and/or jobs sent to the third world? More money for wealthy business owners! Tax shelters for the rich and their multinational business interests permitting the export of profits. More money for the wealthy! Peoples retirement savings plundered by the wealthy owners of these businesses. Wages for the bottom end being held down whilst the top has no limits. Ridiculous salary packages for CEOs and their Boards which bear no resemblance to reality. You have not even touched on the above Michael. Why? 
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according - 2/5/2017 at 6:15 AM GMT
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 The Purpose of Decadence and the Pleasures of Coercion  (5)
 - James Howard Kunstler - 
have a beer jimmy. relax. dat ski aint fallin. Mainly what’s happening is the running down of fossil fuel based techno-industrial economies. thats bullshit and you should know it. join us for a better view. we welcome your whit and laugh at your bullshit. love, jon 
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UltraWoof - 2/7/2017 at 7:48 AM GMT
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 Merkel an Election Shoo-In? Nope, Think Again
 - Mish - Global Economic Analysis
Never has "EU Gewalt" meant so little to so many by so few. No, that's not it. Never was "EU Gewalt" so meaningless to so few because of so many ? No, that's not it either. Never was "EU Gewalt" so meaningful to so many because of so many? We are getting warmer, but no. Never in the field of "EU Gewalt" was so much owed by so many to so few. Ok, now I remember. This will get funnier with time, possibly. 
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UltraWoof - 2/7/2017 at 7:22 AM GMT
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 Italy Increasingly Likely to Abandon the Euro
 - Mish - Global Economic Analysis
No surprise. For as long as I can remember, Italy has always (at least since WWII) had their way with the Lira by saying "We believe our Lira is strong, and we won't devalue it", and then they'd go and devalue it. Then they'd apologize and promise that they would never do that again, until the next time. Then they'd redo and revamp the government for the umptennth time, and say "We want a strong currency, except sort of on a lower level, not riight now, but may be later". (Of course I am kidding.) In view of this, it might be not "that far out" to expect that the E U could come up with a "Northern Euro" and a "Southern Euro". The NEU and the SEU. Italy, Greece, the Balkans, Spain get to do what they want with the SEU, and Germany, Austria, France, Belgium, Netherlands, Denmark, Sweden etc. get to manage their NEU the way they see fit. Tadaa, and everyone is happy, wadda-ya-say? How will Poland or Hungary decide in this scheme? or Romania, Bulgaria? Kinda hard to say. Ok, I KNOW it's not that simple, but it's fun to write about it. Since I can't solve my own problems, helping out with other problems is a welcome distraction. 
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sam_site - 2/10/2017 at 5:22 PM GMT
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 Is a Global Wide Cash Ban Coming?
 - Phoenix Capital - Gains Pains & Capital
The war on cash is the the result of the 2008 massive redemptions of bank CDs as the herd panicked for the exits and cashed out. That's the real reason there's a war on cash. The banker's worse nightmare is a bank run by the herd when they no longer can suppress interest rates, gold and waning confidence in the fiat "funny money" system. India made bank runs far more difficult by allowing only the equivalent of $1 dollar bills in circulation. Clif High predicts the bank run stampede starts on the Ides of March. Beware https://www.youtube.com/watch?v=JEYFsxfmnmo  
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UltraWoof - 2/7/2017 at 8:10 AM GMT
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 France First: Marine Le Pen Speech Interrupted by Cheers “France! France!”
 - Mish - Global Economic Analysis
What do I see: America first, France first, England first, Russia first, Germany first, .... and what about China, Brazil, India, don't they want to be first too? We can't all be first, someone's gotta be second, someone's gotta be last. Any volunteers? 
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UltraWoof - 2/7/2017 at 8:39 AM GMT
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 Desperation Invades Vancouver Housing Bubble, as Hot Money Still Pumps up Toronto, Hype Overflows  (3)
 - Wolf Richter - 
Yup, a home is a great investment. It's always going to be worth something, but not more than what another is willing and able to pay for it. So you better don't owe too much on it. 
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J. - 2/13/2017 at 12:52 PM GMT
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 Left Behind  (3)
 - James Howard Kunstler - 
Perhaps Secretary DeVos's primary purpose will be to dismantle the Dept. of Education. Woo Hoo! Stop wasting money on ineffective education that really is just warehousing and indoctrination. Let parents decide what is best for their children. The flight to the suburbs that you have often decried, and forecast its demise, was largely fueled by families' desire to raise their kids in a better environment than the blighted inner cities. Better schools was a huge part of that. The Dept. of Ed. managed to ruin that by ensuring that no child got left behind. The only way the government can ensure that no child is left behind is to hold everyone else back. The greatest must not outperform the least. A very altruistic socialist ethic. I think teachers, the ones who care about teaching not a paycheck, will welcome deregulation. They will no longer be told by the government what they can and cannot say, what is appropriate. What standard of education is required to pass a class. Teachers will be set free to teach the kids who want to learn, and expel those that disrupt the process. (And these teachers will get paid a heck of a lot more in a private system than as government employees). 
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DRGEORGE - 2/15/2017 at 1:24 AM GMT
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 Yet Another Wall Street 'Witch's Brew'
 - Gordon Long - Market Analytics
I'm not an American but if I had a vote I probably would have voted for DT as the alternative was much worse. My biggest concern about DTs policies is his attitude to free trade. Logic and history tells us time and time again that free trade increases wealth, the opposite destroys it. Erecting trade barriers and starting trade wars will surely not resurrect American manufacturing and the US, like all the ageing 1st world, NEEDS young people (i.e. immigration). Sadly, I think DT will be blamed for pressing the accelerator on what was always going to be a train wreck of a US and world economy. Hold on tight everyone! 
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Gypsy - 2/10/2017 at 11:21 AM GMT
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 Nothing to Lose - Mr. Trump  (3)
 - Captain Hook - Treasure Chest
Perhaps there's some background activity going on Captain. There might be a flurry ~ no ~ a blizzard of information being thrown at Trump by his advisers (Reince Priebus, Stephen Mnuchin, etc) that runs PRO Bankster/PRO Wall Street/ANTI America. Just because ~ during the campaign ~ Trump said he was taking NO money from Corporate Special Interests (because he will represent OUR interests) doesn't mean he was telling the truth. After all, each one of Trump's chosen cabinet members represents a Corporate Special Interest. 
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Doom - 1/27/2017 at 8:01 PM GMT
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 US Consumers to Pay for Wall: Trump Plans 20% Border Tax on Mexican Goods
 - Mish - Global Economic Analysis
Trump is new to political theory and thus is ignorant of the concept of "unintended consequences." While this isn't a good sign, it's not that much worse than our veteran politicians who know how unintended consequences work, and enact bad/ineffectual policies anyway. 
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Titania - 1/26/2017 at 6:43 PM GMT
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 LEAKED: Read The Full Draft Of Trump Executive Order Restricting Muslim Entry Into USA: Total Ban On Syrian Refugees, Biometric Tracking ...
 - Mac Slavo - ShtfPlan
Strong measures and some of them not too practical, however I bet a lot of Europeans wish their governments had protected them in this way. 
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Sam Maher - 1/25/2017 at 9:01 PM GMT
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 Gold Bullion's Rally Fails to Grow GLD Yet Again as UK Supreme Court Confirms Article 50 Ruling on Brexit
 - Bullion Vault - 
"The GLD has now shrunk by almost one-fifth after swelling to a 3-year record immediately after the UK's Brexit referendum result in June 2016." I keep seeing you reference GLD's holdings data but I still have yet to see any substantial evidence to support this data. How reliable are GLD's holding reports? GLD does not give retail investors the right to redeem for any of its mystery physical gold holdings. This fact alone ensures the GLD shares to be nothing more than paper at the end of the day. GLD also has a glaring audit loophole in their prospectus that states they have no right to audit subcustodial gold holdings. To this day, I have not heard of a single good reason for the existence of this backdoor to the fund. Some other red flags I've stumbled upon, verified and welcome everyone else to verify for themselves: "Did anyone try calling the GLD hotline at 866▪320▪4053 in search of numerical details on GLD's insurance? The prospectus vaguely states "The Custodian maintains insurance with regard to its business on such terms and conditions as it considers appropriate which does not cover the full amount of gold held in custody." When I asked about how much of the gold was insured, the representative proceeded to act as if he didn't know and said they were just the "marketing agent" for GLD. What kind of marketing agent would not know such basic information about a product they are marketing? It seems like they are deliberately hiding information from investors." "I remember there was a highly publicized visit by CNBC's Bob Pisani to GLD's gold vault. This visit was organized by GLD's management to prove the existence of GLD's gold but the gold bar held up by Mr. Pisani had the serial number ZJ6752 which did not appear on the most recent bar list at that time. It was later discovered that this "GLD" bar was actually owned by ETF Securities." 
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ChrisR13 - 2/15/2017 at 9:22 PM GMT
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 Trump Fan John Paulson Cuts GLD Gold Investment as Inflation Hits 5-Year High
 - Bullion Vault - 
Paulson still owns 4.3 million shares but don't forget GLD allows its biggest holders to redeem for the underlying physical gold but everyone else is left holding the bag. Paper gold GLD claims to be fully backed by physical gold bullion but yet it refuses to give your everyday investors the right to redeem for any of these ‘claimed’ gold bullion. This fact alone would mean GLD shares are nothing more than paper at the end of the day. Furthermore, GLD’s prospectus is chalk full of weasel clauses and legal loopholes that allows the fund to get away without the full physical gold backing. One good example of this is the clause that states GLD has no right to audit subcustodial gold holdings. To this day, I have not heard of a single good reason for the existence of this audit loophole. There are other issues as well that I've verified and welcome everyone else to do the same: “Did anyone try calling the GLD hotline at (866) 320 4053 in search of numerical details on GLD's insurance? The prospectus vaguely states "The Custodian maintains insurance with regard to its business on such terms and conditions as it considers appropriate which does not cover the full amount of gold held in custody." When I asked about how much of the gold was insured, the representative proceeded to act as if he didn't know and said they were just the "marketing agent" for GLD. What kind of marketing agent would not know such basic information about a product they are marketing? It seems like they are deliberately hiding information from investors." "I remember there was a well documented visit by CNBC's Bob Pisani to GLD's gold vault. This visit was organized by GLD's management to prove the existence of GLD's gold but the gold bar held up by Mr. Pisani had the serial number ZJ6752 which did not appear on the most recent bar list at that time. It was later discovered that this "GLD" bar was actually owned by ETF Securities.” 
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stinger - 2/18/2017 at 8:46 PM GMT
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 Alan Greenspan renews gold advocacy, Part 1
 - Michael J. Kosares - USA Gold
STFU Greenspan, shut your lie-hole already. When you had a chance to make a difference you sold us out. Nobody gives a chit about you or the "legacy" you're trying to salvage. The guy belongs in jail. 
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