Profile and commentaries of overtheedge
Member since May 2012
Followed by 6 membersFollows 0 member
680 commentaries, with 102 Replies
30 replies to his comments (4%)
Average Note : 71 / 100 for 452 rated commentaries  961  401 
Last commentary posted on Thursday, April 14, 2016
 Profile Commentaries Followed By Following -
Tesla And Other Tech Giants Scramble For Lithium As Prices Double
And just where is the electrical charging capacity for these giga-quantities of batteries going to come from?

Everything is connected to everything.
Everything has to go somewhere.
There ain't no such thing as a free lunch.
4/14/2016 at 6:33 PMPermalink
 Sprott Money
Warren Buffett’s Father, Gold, and Liberty - Jeff Nielson
"[It] gets dug out of the ground in Africa or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. ...

…that’s not the worst part of gold in Buffett’s view. His biggest issue is the fact that gold is just so worthless. Not in the value someone is willing to pay for an ounce of it, but in its ability to create wealth. "

4/9/2016 at 8:29 PMPermalink
 Mish - Global Economic Analysis
Brexit Campaign Gathers 250 Business Executives Including Former HSBC CEO; Project Fear
Sheep always go where the dogs push them.
The dogs just follow orders.

No reason to expect otherwise.
3/26/2016 at 9:44 PMPermalink
 James Howard Kunstler
The Uses of Disorder  (3)
"Who was is that said "never underestimate the intellect of the electorate?'"

Democracy is a pathetic belief in the collective wisdom of individual ignorance
Henry Louis Mencken
3/22/2016 at 7:03 PM  0  1  Rating :  -1 Permalink
 Gary Tanashian - Biwii
The Clown Show Has Come and Gone
"A little inflation can go a long way in inflating away a government's debt problems."

Not if you continue to add to the debt.
3/21/2016 at 1:41 AMPermalink
 Keith Weiner - Monetary Metals
Supply and Demand Report, 13 Mar, 2016
" Every ounce of those massive stockpiles is potential supply. Everyone on the planet is potential demand. At the right price, and under the right conditions."

Seems to be your mantra and is incorrect at best.

If we consider gold, money and the currency of the day to be representations of productive energy expenditure, then the exchange relationship between each indicates the level of confidenc...
3/14/2016 at 8:07 PM  2  1  Rating :  1 Permalink
 Steve St Angelo - SRSRocco Report
Death Of Paper Gold Picks Up Speed BIG TIME Today  (5)
Might this be the same Blackrock that hired former CEO Ortega that was ousted from Abengoa Bioenergy?
And the same Blackrock that perhaps had insider info on the state of Abengoa's finances and placed a monster of a short?
Blackrock did in fact hire Mr. Ortega just weeks before Abengoa hit the skids and supposedly Blackrock was an investor in Abengoa.
Perhaps, just if, this Blackrock gets an invitati...
3/5/2016 at 12:24 AMPermalink
 The Gold Report
Graphite: What iPhones, NASCAR and Tesla Have in Common  (2)
Without substantially increasing the electric power generation capacity, demand for lithium and graphite will stall out.
A battery needs to be charged or else it is just a high tech boat anchor.
Doesn't anyone grasp just how much energy it requires to keep the wheels rolling?
Where do you suppose electricity comes from?
Burn fuel to generate electricity. Lose electricity in the grid due to resist...
3/3/2016 at 9:21 PM  2  0  Rating :  2 Permalink
 John Rubino - Dollar Collapse
Japan's Negative Interest Rates Are Even Crazier Than They Sound  (1)
"Pension funds, meanwhile, operate the same way, taking in and investing contributions against future obligations. Many US pension plans are already borderline broke and in a NIRP environment they'll suffer a mass extinction."

Thus sets the stage for all private pension programs to be moved into the US government's MyRA Program for our own good.
And just where do you suppose the Social Security prog...
3/2/2016 at 9:42 PMPermalink -
Electric Car War Sends Lithium Prices Sky High  (1)
Sure, lithium demand will rise and then it will stall out.
Lithium batteries aren't worth doodley-squat if the power generation capacity doesn't exist.
Think about it for just a moment.
Less fuel is being used for transportation, but that level of energy provided by the fuel must be generated and transported via the electrical grid.
This means new electrical generation plants MUST be bu...
2/26/2016 at 7:43 PMPermalink
 Adrian Ash - Bullion Vault
Buy Gold, Lose 8 on a 6 Profit
Being an anachronism, I still hold to the concept that an investment provides a periodic return on my investment.
Therefore gold can't be an investment. It is either a trade or a savings instrument.

So is your idea better than gold as an investment?
I gotta agree though the rate of return is still minimal.
I figure roughly a 2.6% return and about 19 years to pay back the initial investment. ...
2/25/2016 at 11:03 PM  1  0  Rating :  1 1 AnswerPermalink
 Adrian Ash - Bullion Vault
Buy Gold, Lose 8 on a 6 Profit
""Ah, but if you don't hold it you don't own it!" says the idiot in chat rooms and on comment threads. But you might at least get to make a profit from it. Whereas our wise friend confuses ownership with possession, and at a cost so huge, it undoes the whole purpose of wanting to buy gold in the first place."

"Yes, you can do that using BullionVault. The metal you buy is your physical property after all...
2/24/2016 at 10:10 PM  2  0  Rating :  2 Permalink
 Hubert Moolman
Silver Price Forecast: Why Central Banks Will Buy Silver
Central Banks might very well begin purchasing silver.
But it won't be for the purpose of re-monetization.
History is replete with examples of what happens with bi-metallism whether it is limited to one country or between the several trading countries.
However there is an excellent reason to re-coin silver.
Token coinage is always a necessity and silver gives the tokens a measure of credibility.<...
2/24/2016 at 9:13 PMPermalink
 Nathan Lewis - New World Economics
Problems of Coinage  (1)
Good article.
I fear that it still won't put an end to the endless prattling about the so-called "Crime of 73".
Bi-metallism has never and will never work so long as money crosses national borders.
Money always crosses national borders.
2/21/2016 at 7:45 PMPermalink
 Mark O'Byrne -
Euro Bond Crisis Returns As Germany Pushes Euro Sovereign Debt Bail-in Clause
Good and timely article, but ...

"It is unlikely that we will face a banking collapse in the near future as we hope in time that cooler heads will come to bare. "

Yes indeed, that sure sounds like a real winning strategy.
You warn the people to prepare for the worse and then paint over the warning with the above disclaimer.
Some of us consider it far wiser to be 6 months early than a da...
2/16/2016 at 7:24 PM  1  0  Rating :  1 1 AnswerPermalink
 John Rubino - Dollar Collapse
Central Banks Fool The Markets Again, But Only For A Little While  (2)
"Data last week from the Bureau of Labor Statistics showed that U.S. firms were continuing to hire with 5.6 million job openings in December 2015, up from 5.43 million job openings in November."

How many of those were seasonal holiday hires and for end of year inventory?
Of course we might ask how reliable are BLS statistics as well.

When the health of an economic system is dependent upon r...
2/16/2016 at 12:49 AMPermalink
 Mark O'Byrne -
Gold Surges Another 7 This Week – Largest Gain Since 2008  (1)
"Buyers should be getting into position to buy on the next dip."
Gold is up something like 16% so far this year.
Should'a bought when it was low and rising rather than wait for a 1-2% dip.
Perhaps the buyers have a cut-off price where they refuse to buy any more?

The current trend of shedding junk and buying gold is only effective if the economy stabilizes.
But the harsh reality is the ...
2/12/2016 at 10:46 PMPermalink
 Antal E. Fekete - Gold University
The Revisionist Theory and History of Depressions  (4)
"The key is in the hand of the U.S. government. It is the same key that was used to lockthe U.S. Mint to silver in 1873, and to gold sixty years later, in 1933. By using it now to open13the U.S. Mint to both silver and gold, the U.S. government can effectively cordon off theBlack Hole of zero interest to prevent further damage."

Try as I might, I can see no historical evidence that bi-bimetallism with a...
2/5/2016 at 9:10 PMPermalink
 James Howard Kunstler
The Agonies of Sensible People  (16)
"For now, anyway, the real disrupter is turning out to be Michael Bloomberg. Finally a serious man enters the stage."
As the other commentators pointed out, Bloomberg is serious about regulating civil liberties.
It can't get anymore serious than that.
You can almost see the ravenous maw of Bloomberg and Wall Street getting ready to nationalize your pensions for your own good.

"..., , Bl...
2/1/2016 at 9:51 PMPermalink
 John Rubino - Dollar Collapse
Everybody's Doing It  (3)
" The case could actually be made that fabricating economic stats is a sign that China is joining the community of "advanced" countries."
For many it may already be known, but ...
With this, John Rubino tells us what we need to fully recognize when making longer term investment decisions.
Good article.
Thanks and a tip of the hat to you.
1/20/2016 at 10:35 PM  2  0  Rating :  2 Permalink
 John Rubino - Dollar Collapse
Why Are We Still Paying Attention To Chinese Numbers  (1)
"China is big, yes, but it lacks the rule of law and stable institutions of a world power. And it seems not to understand markets, which should terrify everyone who hopes to avoid a global melt-down."

Yah, so what!
All they are doing is following the USA, EU, Japan, Great Brittan and and the rest of the world down the same road.
There is no stopping a person, corporation or country dead set on a...
1/19/2016 at 8:18 PM  1  1  Rating :  0 2 AnswersPermalink
 Michael Pento - Delta Global Advisors
This Is Not 2008: It's Actually Worse  (3)
China first.
When you are sitting on a few trillion dollars in your foreign reserves that will NEVER be paid back with anything of value, what do you do?
Use them as collateral for internal financing of infrastructure.
Just a simple case of use it or lose it.
China might have already figured that out.

When corporations borrow to buy back stock, what is actually happening is asset stripp...
1/18/2016 at 9:40 PM  1  1  Rating :  0 Permalink
 Przemyslaw Radomski CFA - SunshineProfits
Gold Outlook for 2016  (2)
"The U.S. economy should grow faster than other developed economies, ..."

In the real world, growth is mandated by that odd notion that new wealth can only be created by producing something tangible.
This is accomplished by producing commodities and by value-added processing aka manufacturing.
Everything else is taking in one another's laundry.
Service industry is NOT industry. It is just a ...
1/17/2016 at 9:22 PMPermalink
 James Howard Kunstler
Discovery  (15)
I gave you 5 even though you understated the major weakness in the system: transportation.
Though fuel is currently at a multi-year low, it is just one portion of the over-all cost structure of transportation.

Now as JHK has pointed out, almost every item consumed is transported from far away.
The cities have a problem of no primary production and limited secondary (value-added) manufacturing.<...
1/11/2016 at 10:05 PM1 AnswerPermalink
 John Rubino - Dollar Collapse
Perfect Storm!  (4)
Deus ex machina or are the lemmings going on the march?
Been my perception that machines always break down at the most inopportune time and sooner or later the lemmings always march looking for a more fertile environment. Repair parts and the repair expertise isn't always available and many lemmings lack the resources to complete the journey.

Good article
1/7/2016 at 9:26 PM  0  1  Rating :  -1 Permalink
 Bullion Vault
Buy Gold Prices Break $1100, Fed 'Priced In' as China Turmoil 'Just 1998' Mainstream Media Tells Soros  (2)
One Bullion Vault article is about Dahdah predicting the price dropping through $1000USD and then this article.
Both on the same day by Bullion Vault.
Advertising is all about managing perceptions.
If Bullion Vault hasn't a clue, why would any logical reasoning person trust the reporting to be anything other than noise?
It certainly appears that Bullion Vault has no strength to their convictions....
1/7/2016 at 9:03 PM1 AnswerPermalink
 The Gold Report
Why CSR Makes Sense for Communities, Companies and Investors  (1)
Social license?
Nay, it is social blackmail.
Unlike most, I have lived and worked for 5 years in a company town where social license was endemic.
Yes it creates a atmosphere of sociability, but entirely shields the community of the actual costs of operating the various programs.
When the costs are transferred to members of the community, the programs are dropped.
Social license is a subsidy t...
12/26/2015 at 10:48 PMPermalink
 Nathan Lewis - New World Economics
Money and Credit 2: Credit  (1)
Condescend: v.i., 1. to wave dignity and superiority voluntarily and assume equality with an inferior.

Emotive response. A response given as an emotional appeal. In the case of usury, given as a rail against the lender.
Yet here we are with interest at an all time low and you are still clamoring over usury?
One might get the idea that there exists a subset of the population that feels (an emoti...
12/25/2015 at 8:28 PM1 AnswerPermalink
 Nathan Lewis - New World Economics
Money and Credit 2: Credit  (1)
Usury is consensual.
If an entity doesn't like the level of interest demanded, don't sign the contract.
To sign and then complain is conclusive evidence that the entity should have been charged double for the trouble.

Perhaps you forget that loans and particularly consumer loans are not an entitlement.
The very premise that the borrower and/or a third party assigns the risk level and conseq...
12/21/2015 at 9:19 PM1 AnswerPermalink
 George F. Smith - Barbarous Relic
Take comfort, libertarians, the future is ours  (6)
Deus ex machina?
Is it April 1 today?

“all of these technologies quickly become so inexpensive as to become almost free.”
And the profits for the technological advances are reduced to nil.
What great productivity advances has this technology enhanced and just how will it turn a profit?

Obviously the writer has forgotten that all these marvelous technologies are dependent on the di...
12/18/2015 at 9:29 PM1 AnswerPermalink
 Nathan Lewis - New World Economics
Money and Credit 2: Credit  (1)

I think it was Vladimir Lenin who stated something to the effect of, "The first thing we do is corrupt the language."

""Credit" is just borrowing and lending"

No it is not.
Credit is the offer to lend from those who have to those who have not.
Should the prospective borrower avail themselves of the loan, they convert the offer of credit to that of debt.

"Thus, banks, actin...
12/13/2015 at 9:52 PM  1  0  Rating :  1 1 AnswerPermalink
 Andy Hoffman - Miles Franklin
Perhaps in NZ the people have some ability to recognize gold and its fineness, but here in the USA that ability does NOT exist even at the refinery.
For instance, the refiners I have dealt with do an assay of all incoming gold unless it is a recognizable minted coin.
Then the exchange value is less than the assayed value using spot pricing.
Part of this difference is the assay costs, fabr...
12/9/2015 at 2:48 AM  4  1  Rating :  3 2 AnswersPermalink
 Jesse - Le Cafe Américain
SP 500 and NDX Futures Daily Charts - Blue Skies, Unicorns, and Santa Claus Rallies  (1)
Wow, quoting America's #1 national socialist. FDR was a thief, a dirt-bag and a dictator.
His regime created the welfare state. We steal from the producers to buy your vote. Read some unabridged history for a change.
Democracy is mob rule. Look at what happened with France. Liberté, égalité, fraternité. Yah, that worked out well.
Oh and just to offer you a slight bit of hard information, the word "de...
12/2/2015 at 6:33 PMPermalink
 Steve St Angelo - SRSRocco Report
Record Silver Coin Demand Signals Financial Trouble Ahead  (2)
I only gave this three stars because there was a complete absence of silver round/medallion sales.
Not everyone believes that official mint coins are worth the high seigniorage and premiums over silver rounds/medallions.
I can remember when Peace and Morgan silver dollars sold for $1 USD each.
Now look at the premiums over actual silver content.
But will these seigniorage and premium costs contin...
12/1/2015 at 10:05 PM  2  0  Rating :  2 Permalink
 Mish - Global Economic Analysis
Amazon Unveils New Drone Prototype for 30-Minute Deliveries; Google Seeks Drone Deliveries by 2017  (1)
Thank you for reminding me why I would rather buy a few cases of cheap beer than Amazon stock.
These pie-in-the-sky adventures in vertical integration by Amazon are why there are serious limitations for any ROI with Amazon beyond the greater fool concept.
And I like doing business with Amazon, I just wouldn't throw away my limited investment monies on such nonsense.
The Amazon monies would be far bet...
12/1/2015 at 8:07 PMPermalink
 Keith Weiner - Monetary Metals
Light Thanksgiving Week Report 29 Nov, 2015
"Every ounce of those massive stockpiles is potential supply."

Count me among those who suggest that far too much emphasis is placed upon gold in vaults aka stockpiles.
While this gold might be available at the right price, so is all the lower grade ore that producers bypass due to low prices.
Though much of this ore will need to go to the leach pile, at the right price producers will eagerly mi...
12/1/2015 at 7:31 PM  1  0  Rating :  1 Permalink
 Michael Pento - Delta Global Advisors
The Success of Irish Austerity: The Joke is on Krugman  (4)
The first thing to remember is that Krugman did NOT get a Nobel Prize in Economics.
He got the Sveriges Riksbank (Swedish Central Bank) Prize in Economics in Honor of Alfred Nobel.
Banks produce nothing.
They rent money to borrowers, often money the bank doesn't have in stock.

Tis far too easy to forget that government is an extension of the citizenry sharing similar attitudes.
As a citi...
11/23/2015 at 10:11 PM  2  0  Rating :  2 Permalink
 Mish - Global Economic Analysis
Brussels Enters Lockdown, Warns of "Paris-Style" Attack, Airport and Sporting Events Closed  (1)
The terrorist is under no obligation to launch an attack by a certain date/time group.
Consider why Brussels might be in the gun sights of terrorists.
Centralization always provides the greatest density of high value targets.
Don't kid yourself for a moment. The terrorists have declared war.
Might I suggest folks put down their gaming tablet computers and read some Clausewitz.
11/21/2015 at 9:14 PMPermalink
 Steve St Angelo - SRSRocco Report
SHANGHAI vs COMEX: Opposite Moves In Silver Inventories  (3)
Good article, but ...

"The best way to protect oneself from the coming collapse of the U.S. Bond, Stock and Real Estate Markets is to own physical gold and silver."

No! The best is arable land with the skills and inputs needed to put/keep it in food production. Gold and silver carry wealth forward for those times after things settle down and regional commerce begins anew. Otherwise those holdin...
11/21/2015 at 8:43 PM  2  0  Rating :  2 Permalink
 John Rubino - Dollar Collapse
Corporations Are Liquidating Themselves, One Buyback At A Time  (2)
There is an alternate hypothesis as to why the massive share buy-backs.

Begin with the assumption that the corporation is expected to have a much reduced revenue stream.
This could possibly result in bankruptcy.
Enter stock buy-backs with current cash assets and large scale borrowing.
Result? Large scale asset stripping by the shareholders before the ax falls.

Think about the increa...
11/18/2015 at 10:11 PM  1  0  Rating :  1 Permalink
 John Rubino - Dollar Collapse
Another Brutal Monday  (2)
All the public needs to realize is that the bleeding heart socialists, the bureaucrats and the nation's leadership that opened the borders to one and all.
That the same bunch fomented the hatred for the Syrian leadership for keeping a lid on the "rule of the clan".
Same thing for the former leaders of Iraq, Libya, Ukraine and other less well known countries.
Since when is the concept of "bringing dem...
11/16/2015 at 4:01 AMPermalink
 Mark O'Byrne -
Russia Sees Gold Reserves As “Additional Financial Cushion” In Face Of “External Uncertainties”  (1)
My math must be faulty or ... ,

$500 billion.
Assume that is in USD and we use US tons as the metric.
1 ton = 24,000 troy ounces
24,000 ozt X $1100 USD = $26.4 million/ton
$500 billion/$26.4 million = 18,938.4 tons

US gold reserves assumed to be 8,133.5 tonnes
1 tonne = 1.023 US (short) tons
8,133.5 x 1.023 = 8,320.6 tons

Verstehen sie?
11/13/2015 at 7:17 PMPermalink
 Mark O'Byrne -
EU Takes Countries To Court Over ‘Bail-In’ Laws
I would argue that money goes where it is respected.
Ergo these six countries demonstrate respect for the money and those who invested it.
The other members of the EU will see lost profits if these six get away with respect.
Obviously another classic example of unfair trade under the EU campaign of communitarianism.
EU fairness is based upon the 3 Musketeers principle. "All for one and one for al...
10/27/2015 at 5:00 PMPermalink
 Hugo Salinas Price -
The Fundamental Flaw of 'Mainstream Economics'  (4)
Although Irving Fisher is long dead and his pseudo-scientific thesis long ago discredited, the indexing continues.
One of the most well known being the CPI.
Any attempt to use the scientific method in an environment when ALL the variables can't be controlled will always result in failure.
Not all members of homo sapiens are amenable to manipulation.
Attempts to use logic when analyzing the illogi...
10/23/2015 at 9:53 PM  1  0  Rating :  1 Permalink
 George F. Smith - Barbarous Relic
Hands off, Bernie!  (9)
I would argue that the correct term, rather than collectivism or socialism, is communitarianism.
Each person is an asset to the community and so are the assets that the person thinks they own. Property tax ring a bell?
And that same person is jointly responsible for any debts the community has incurred. How about those municipal bonds?
The concept of self must be eliminated. Community spirit and volu...
10/23/2015 at 8:41 PM  1  0  Rating :  1 Permalink
 Steve Saville - Speculative Investor
Gold Is Not Money, Part 2  (3)
Using your definition of "money" would make EBT cards of all varieties money.
They are generally accepted world-wide. Even the IRS will accept balance transfers as money. They will accept checks as well for payment of taxes.
More importantly, EBT cards and checks are not forced upon the populace as the medium of exchange.
If current sampled data is even close, then more people depend on EBT cards of...
10/16/2015 at 8:48 PM  1  0  Rating :  1 Permalink
 Mark O'Byrne -
Gold’s “Bigger Question” Is Where To Store It – Marc Faber
"They will then go and blame someone else for it and then an easy target would be to blame it on people that own physical gold because they can argue, well these are the ones that do take money out of circulation and then the velocity of money goes down … we have to take it away from them.”

That has happened in 1933 in the US…"

What a crock of nonsense.
It was all about the need to debase ...
10/13/2015 at 8:53 PMPermalink
 Graham Summer - Gains Pains & Capital
Europe Reveals How Accounts Will Be Frozen During the Next Crisis  (1)
This is like one of those "Good grief, Charlie Brown" moments.

Anyone who reads good fiction knows that everything has to make sense.
Ergo, with simple though processes showing up for work after breakfast would realize the simplest plan is usually the best plan.
Can we spell computer network virus?
Everything locks up.
Electronic money has the magic bits and bytes go on vacation with no...
10/11/2015 at 2:03 AMPermalink
 Mark O'Byrne -
Bundesbank “Reassures” Re. Gold Bullion Reserves as Deutsche Bank Shocks With €6 Billion Loss Warning  (1)
Ah yes. An inventory sans serial numbers.
This is akin to stating we have 5 cars in the motor pool, but no identification.
Are these vehicles the new sedans or are they 1947 rolls-canardleys (rolls downhill and can hardly make it up the next hill).
Maybe they are just hangar queens aka just for parts?
But wait!!
Nobody has even looked to see if they exist.
Maybe they were recycled an...
10/8/2015 at 8:40 PMPermalink
 James Howard Kunstler
Syriasly  (21)
But Mr Kunstler, if we pull back from destroying countries, the ramifications would be devastating to our political-economic theater of operation.
The weapons manufacturers would have to lay off the employees.
The massive debt loads carried by not just the manufacturers of destructive devices, but also those of the employees would no longer be serviced.
The citizenry would probably demand our troops ...
10/5/2015 at 10:40 PM  6  0  Rating :  6 Permalink
 Andy Hoffman - Miles Franklin
"To wit, the “sixth sigma” similarity of Tuesday, Wednesday and Thursday’s silver and “Dow Jones Propaganda Average” charts."

When you trot out six sigma events as occurring often, perhaps you have no knowledge of statistical analysis.
BTW, it is six sigma not sixth sigma or it can be called six standard deviations.
And the odds of occurring is 3.4 occurrences per 1,000,000.
As each of thes...
10/5/2015 at 9:52 PM  1  0  Rating :  1 1 AnswerPermalink
 Adam Hamilton - Zealllc
Feds Serious Inflation Risks  (2)
Excellent. Too bad this is the harsh reality:
"So the idea that there are big risks of serious inflation breaking out is hyper-contrarian heresy, widely ridiculed."
Obviously many so-called analysts have failed to read LvM and perhaps some who have, have found LvM to be contrary to their belief system.
These same analysts will never grasp the simple truth that as MZM increases, the buying priorities ...
10/2/2015 at 10:26 PM  1  0  Rating :  1 1 AnswerPermalink
 Steve St Angelo - SRSRocco Report
BEWARE: What If This Retail Silver Investment Shortage Doesn’t End  (2)
I only gave you three stars and here is why.
"However, the important factor to understand is that most investors go after the WELL KNOWN product first and then switch to other products when availability is an issue. Anyone who regurgitates that there is still plenty of silver to purchase fails to grasp the underlying cause of this recent surge in silver investment."

Though partly true, within it is...
9/25/2015 at 11:14 PMPermalink
 Andy Hoffman - Miles Franklin
"... And if you do, you’re likely to pay a physical premium at least 50% above the fraudulent “paper price.”"

If we assume the paper price is fraudulent, then why would anyone have a problem with paying perhaps 50% more for hard money?
I would prefer to pay less than spot, but it just don't work that way.
Perhaps the high premium better reflects the price of physical?

Until base metal p...
9/23/2015 at 9:47 PM  1  0  Rating :  1 Permalink
 Andy Hoffman - Miles Franklin
What happened to your Shemitah prophecy?
Perhaps they didn't read your article, get the memo or maybe it really was just pure nonsense.

I noticed you dropped it from your articles.
9/22/2015 at 9:23 PM  1  0  Rating :  1 1 AnswerPermalink
 Alasdair Macleod - Finance and Eco.
Gold remains money  (5)
"... and the price of physical metal measured in government currencies will reflect more properly its unique monetary quality."

Maybe, maybe not. Those who accumulate gold may not be eager to buy government currency. Ergo accurate price discovery just might be impossible.
Try to keep in mind that once government currency reaches its true value, the vast majority will not have enough to buy anything...
9/19/2015 at 8:33 PMPermalink
 Andy Hoffman - Miles Franklin
We can buy silver in whatever form and quantity we can afford.
And with credit cards, second mortgages, payday advances, etc, we can buy what we can't afford as well.
9/17/2015 at 8:17 PMPermalink
 Mark O'Byrne -
Cash Withdrawal Limits and “Bank Holidays” Coming  (1)
Consider the case of the USA. It has a legal tender law.
What if companies, corporations and individuals refused to accept direct deposit, refused to accept checks and demanded currency?
Ashes, ashes, the banks fall down.

Now in keeping with the concept of moving to a cashless society and the threat of electronic banking shutting down for just a few weeks, what better way to force the currency b...
9/12/2015 at 7:43 PMPermalink
 Jesse - Le Cafe Américain
Gold Daily and Silver Weekly Charts - When the Unsustainable No Longer Sustains
Just a what-if possibility.

If you have rehypothecated gold, sold it and delivered the physical, how could you replace the physical?
Perhaps drive the price down and accept that 30%, 50% or even 70% of the physical gets sucked into the Chindia blackhole.
At least the portion that comes available can be used to replace the physical that no longer exists in the vault.
At current spot, there is...
9/10/2015 at 12:58 AMPermalink
 Andy Hoffman - Miles Franklin
Wow, another goyim that knows nothing about Shemitah.
Shemitah doesn't prophesize anything. It is a religious commandment for Jews.
Maybe you might wanna spend a few minutes with a rabbi before you continue spouting off this nonsense.

Perhaps these so-called analysts are attempting to pull off a self-fulfilling prophesy.
What better way to establish street credibility?
Yah, just create p...
9/9/2015 at 8:39 PM  0  1  Rating :  -1 Permalink
 Mac Slavo - ShtfPlan
Watch Carefully as Dangerous Economic Times Approach: “Nothing but Black Swans Ahead”  (1)
Where did anyone get the fool idea that Shemitah applies to the goyim?
9/8/2015 at 9:20 PMPermalink
 James Howard Kunstler
There Goes Europe  (25)
The primary evidence supporting your contention is a nation's population before oil production and now.
It is just that simple.
Survival and growth require energy assets.
Those assets MUST be marketable.
It is from the market that all largess originates.
It is the largess that keeps a damper on social unrest.
Reduce the assets and/or their marketability and the former recipients of the l...
9/7/2015 at 8:00 PM  0  1  Rating :  -1 Permalink
 James Howard Kunstler
Say Goodbye to Normal  (16)
Oh Mr. Kunstler.
So little faith in the concerted machinations of the technocrats.
Just because they are all queens of the Dark Triad is no reason to disbelieve their ability to shape a future where we all will dwell on the big rock candy mountain eating Ding-dongs and playing video games.
Surely they still retain all the skills of the wizard of Oz.
Any and all failure will obviously be directly ...
8/31/2015 at 8:52 PM  2  0  Rating :  2 Permalink
 Bron Suchecki - Perth Mint
The ideal percentage allocation between gold silver  (8)
Of course this depends on the future to mirror the recent past.
This is the problem with technical analysis.
You are betting the future on the past actions of the herd of gamblers who were betting with paper using ridiculously low margins.
Do you honestly think that is such a wise course of action?

Compound this with just a few decades of data and suddenly you are surveying the financial wor...
8/25/2015 at 9:14 PM  6  1  Rating :  5 Permalink
 Mish - Global Economic Analysis
Reader Question: Is Gold Manipulated  (2)
"Even though I was on the right side of the inflation/deflation debate, with hyperinflationists and death-to-the-dollar advocates looking extremely foolish along the way, ..."

Ah yes, so far so good and all it took was redefining a few words by accepting the drivel peddled by Irving Fisher back in 1933.
Currently inflation and deflation are all about debt/collateral issues and not the amount of curr...
8/22/2015 at 2:28 AMPermalink
 Jesse - Le Cafe Américain
Wilkerson: Who Makes US Foreign Policy  (1)
And just how many factories do the poor build?
How many products do the poor bring to market?
How much tax revenues do the poor pay?
None is the correct answer to all of the above.

FDR was a national socialist.
I contend that the Democrats are socialists and the Republicans are fascists.
It would appear that nothing really changes except the names.

Why would any rationa...
8/20/2015 at 9:17 PM  0  1  Rating :  -1 Permalink
 Chris Powell - GATA
Cash-strapped Venezuela may sell gold, Citigroup says  (1)
Pure speculation by Citigroup and the trotted out by Bloomberg.
Then foisted on more readers by GATA.

Where is the evidence?
Probable default by Venezuela is NOT evidence.
As the Bloomberg article points out, banks won't be willing to accept gold held in Caracas as collateral.
Perhaps GATA, Bloomberg and Citigroup don't understand the reason that Venezuela repatriated their gold.
8/20/2015 at 8:58 PMPermalink
 Clif Droke
The myth of gold price manipulation  (5)
You are right about the huge differences between trading and investing.
But!!! You are wrong about buying solely on the way up.

For a maximum return on investments, buy on the way down and sell on the way up.
As the old saying goes, nobody will be ringing the bell when the market turns.

In the field of logic, an easy way to discern a fallacy of logic is by using the extreme case.
8/18/2015 at 9:25 PM1 AnswerPermalink
 Adam Hamilton - Zealllc
Gold Miners $1200-Cost Fallacy  (1)
Thanks for pointing out what should be obvious to the participants in the gold market.

The WGC invention of the new AISC should have raised red flags.
One need only look back 10 years and run a comparison between costs and revenue then to the same now to see that the WGC numbers were of doubtful accuracy at best.
But people want to believe in all sorts of nonsense.
I would tender the notion...
8/14/2015 at 8:28 PMPermalink
 Clif Droke
The myth of gold price manipulation  (5)
"Certainly any investor worth his salt would not be so foolish as to risk his hard-earned capital on an extended period where markets are showing signs of undergoing distribution (i.e. organized selling) or other periods of extreme volatility. "

Obviously then those of us that buy when the market forces a commodity below the price that the fundamentals would support must be idiots.

8/13/2015 at 6:31 PMPermalink
 Dan Popescu - GoldBroker
China’s Gold Reserves Updated: Surprised  (2)
Count me among those who feel that including gold as part of foreign reserves to be utter nonsense.
Gold has no counter-party risk.
Foreign currency always incurs risk.

Next comparing the percentage of gold holdings to the percentage of foreign currency holdings is a silly notion at best.

Consider a country like Greece.
Greece supposedly has 112.5 tonnes of gold.
Greek foreign ...
8/10/2015 at 10:22 PM  1  0  Rating :  1 Permalink
 Chris Powell - GATA
James McShirley: Kitco inadvertently acknowledges that the gold price is suppressed  (1)
"Neils and Peter both just inadvertently admitted manipulation without ever saying the "M" word. "

No they didn't admit manipulation. They said exactly what they said.
GATA parsed their statements and then manipulated what was said to reflect GATA's mantra.

Perhaps the perceived minor shortage of coins is only due to a shortage of coin blanks.
This would suggest a bottle-neck in the man...
8/7/2015 at 6:15 PM  0  1  Rating :  -1 Permalink
 Mark O'Byrne -
Will Uncle Sam Confiscate Gold Again  (2)
"... , generally larger amounts would be safer stored in the safest vaults in the world and in the safest jurisdictions in the world."

And none of these safe jurisdictions would ever change their mind and seize the gold?
Maybe they will provide the same level of banking secrecy that the Swiss provide for Americans as well.

Oh, the warm fuzzy feeling you suggest about safe vaults and safe ...
7/31/2015 at 9:33 PMPermalink
 George F. Smith - Barbarous Relic
Why we should abandon the State  (2)
What a gigantic pile of horse excrement.
Cherry pick everything that has gone wrong.
Completely discount the hard fact that the author and the grand-master guru of damn foolishness Lew Rockwell owe everything they have achieved to the system they rail against.
Gen Butler stated, "War is a racket." So with a wave of the magic smoke and mirrors wand, it gets substantially altered with Butler's name att...
7/28/2015 at 8:57 PMPermalink
 Graham Summer - Gains Pains & Capital
What Do Greece and Louisiana Have in Common The War on Cash  (1)
"The US financial system isn’t any better. ... , Actual currency is just a little over $1.36 trillion. ..."

And it is assumed that about half that cash is held overseas.

And Louse-iana might find itself running up against Legal Tender laws.
Fed law trumps state law.
7/23/2015 at 7:32 PMPermalink
 Keith Weiner - Monetary Metals
Why Are We Here  (3)
No "woe is me" here.
Just another buying opportunity.
Using leverage is not buying, it is borrowing.
It ain't bought til it's paid off.
In both cases, enjoy your pay-back.
Work diligently and you will get your just rewards.

Good article, thanks.
Sometimes we just need a pep talk.

7/23/2015 at 7:24 PM  1  0  Rating :  1 Permalink
 Marvin Clarke -
Gold and Silver money What's better, to buy or to sell gold (Global InterGold market review)  (11)
"Proof: Global Intergold reviews of gold market ... "

The only proof I see is that you are shilling for Global Intergold and that you are a committed spammer.

But just for grins, let's look at 2014 world production.
The strike in South Africa must be your so-called massive strike.
South Africa produced only 5.2% of gold world wide.
At 150 tons, among the top 10 producers this #7 pla...
7/21/2015 at 11:51 PMPermalink
 James Howard Kunstler
Trump Hits a Bump  (9)
Normally I can agree with you on most issues and those I disagree on are minor.
However the Donald was correct in my military mind (15 years credited service in combat arms).

Consider the facts:
McCain failed to accomplish the mission.
Mission was, bomb the snot out of the target and return the aircraft.
He failed. Circumstances trumped effort.
He failed to escape from the POW camp.<...
7/20/2015 at 10:23 PM  2  0  Rating :  2 Permalink
 Jesse - Le Cafe Américain
Gold Daily and Silver Weekly Charts - Calm Before the Storm  (2)
"Single payer healthcare and a robust social security system, taking the matter out of the hands of individual businesses who look for ways to cheat and cut corners would be more cost effective and much more workable. "

Oh yah, right. Government is always honest, never cuts corners, phenomenally cost efficient and works so well.
You need to quit smoking your shorts.
Your brain cells have taken ...
7/12/2015 at 9:30 PMPermalink
 Mark O'Byrne -
Max Keiser Interviews GoldCore’s Mark O’Byrne
"The IMF said that Greece requires additional bailout funds of around 50 billion euros until 2018 under the current bailout conditions, and slashed its Greek growth prospects for 2015 to zero from 2.5 percent."

This is the one item that should that should cause your bowels to cut loose.
The people have no money, they are limited on withdrawals (past productivity).
By the same token, business fu...
7/3/2015 at 9:49 PMPermalink
 Wolf Richter
Panicked Hedge Funds Now Praying for a Miracle in Greece  (1)
"... and the silly game theory ..."

Obviously you have no knowledge of game theory and its applications. Otherwise you wouldn't have used the above term.
6/30/2015 at 11:23 PM  1  0  Rating :  1 Permalink
 Alasdair Macleod - Finance and Eco.
The euro crisis  (2)
"There is no immediate benefit from debating why."
Debate? That would be like debating whether or not gravity exists.
You stated the obvious why, so debate is unnecessary.

"This week should see the dollar strong against the euro and the euro price of gold can be expected to rise. "
Maybe and probably.
Keep in mind the US financial system's exposure to the Euro.
Counter-party risk i...
6/30/2015 at 12:07 AM  1  0  Rating :  1 Permalink
 Theodore Butler - Butler Research
The Ultimate Confirmation  (4)
It would appear that we share the same conclusion.
A few sealed cans of kerosene might be handy as well.
Thumbs up sir.
6/29/2015 at 7:57 PMPermalink
 Theodore Butler - Butler Research
The Ultimate Confirmation  (4)
Well, gotta admit that there is a problem if a person tries to play silver as both an investment and as an insurance policy.
I would suggest that anyone trying to play both is gonna get beat down repeatedly.

Then each has to admit that everyone entering any market, where the price isn't fixed, is in fact attempting to manipulate the market in their own behalf. The smaller the player, the less effect...
6/28/2015 at 11:33 PM  1  0  Rating :  1 1 AnswerPermalink
 Theodore Butler - Butler Research
The Ultimate Confirmation  (4)
C'mon SW. Using the storage and transport issue you have tossed out would hold true for most all commodities; iron ore, wheat, pork bellies, oil, etc.
All of them are far more bulky than silver and have their own storage and transportation requirements.
6.6 tonnes and 0.63 cubic meters for the silver is easy to store and transport comparatively speaking.
Security is cheap compared to the $5 million p...
6/27/2015 at 4:24 AM  1  0  Rating :  1 1 AnswerPermalink
 Mark O'Byrne -
Gold Bullion Worth $1 Billion To Be “Repatriated” From NY Fed To New Texas Bullion Depository
The Federal government claims supremacy over the states. This got its main arguments from the outcome of the Civil War.
The rights supposedly guaranteed by the first 10 amendments to the Constitution are routinely violated.
It has been a long tradition of the US Supreme Court to avoid at all costs making any rulings on Constitutionality.
Imagine the legal messes rulings on Constitutionality would hav...
6/16/2015 at 8:21 PM  1  0  Rating :  1 Permalink
 Clive Maund
Bond Bombshell...  (3)
"All this looks set to happen with a rapidity that will surprise many people and catch them off guard, particularly those who complacently assume that the long uptrend in many stockmarkets is set to continue forever. "

"Our tactics therefore involve 2 main planks - cash: the US dollar, and bear ETFs, in bonds on any bounce and in stocks immediately. "

"We hold off buying the Precious Metals sec...
6/15/2015 at 8:34 PM  2  0  Rating :  2 Permalink
Silver Dollar  (3)
The problem with belief systems is the absolute requirement that any and all conflicting evidence must be discounted, ridiculed and rejected.

Currently silver is predominantly an industrial metal.
Using the same analysis, gold is just an ornamental metal.
Some banks may hold gold, but they also hold a bunch of really marginal paper claim checks.

However our limited historical recollecti...
6/14/2015 at 6:34 PM  4  1  Rating :  3 Permalink
 James Howard Kunstler
Cover Girl  (17)
First of all, this XY chromosome endowed individual has bills to pay.
Physically changing the appearance of gender costs big buck unless you go to some place like Thailand.
Now couple that with the US citizen's propensity to engage in voyeurism and live life vicariously through others that they don't know.
What is left to shock and amaze the citizens as they park their intoxicated obese carcasses in...
6/8/2015 at 8:00 PM  4  0  Rating :  4 Permalink
 Lew Rockwell
Ron Paul and the Political Theatre  (2)
A long time ago, I worked for state government.
As the heads of all departments and divisions were political appointees,
there was a saying over each new appointment, "Directors come, directors go. We go on forever."
Turns out that the bureaucracy was overwhelmingly Democrats and staunch union supporters.
Also turned out that the bureaucracy insured that everything ran smoothly, i.e. Change could...
6/2/2015 at 5:15 PM  2  0  Rating :  2 Permalink
 Theodore Butler - Butler Research
Curiouser and Curiouser  (5)
When the day to day expenses depend on maintaining one or more lines of credit, when increases in infrastructure depend on selling additional stock and when large investors sit on your board, you shut up and eat your porridge.

Debt makes you a slave whether you are an individual or a multinational mining corporation.

Then there is the big question, "What incentive does the government have in ma...
5/28/2015 at 8:17 PMPermalink
 Wolf Richter
How Soaring Housing Costs Impoverish a Whole Generation and Maul the Real Economy  (1)
Psst, wanna see some feelthy pictures too?

Not only have folks actually bought into the over-priced hovels, but the cities now swimming in the vast newly swollen revenue stream have floated bonds commensurate with their city's new wealth.

If a long-term economic decline were to come out of nowhere, mightn't there be slight problem with debt service on those bonds? How do you tell you loyal citi...
5/14/2015 at 9:15 PMPermalink
 Michael Pento - Delta Global Advisors
Obamacare Caused The Gas Tax Cut To Go Up In Flames  (2)
Okay, just one more time.
The PPACA was enacted for the purposes of bailing out the insurance industry.
Profits had fallen to about 1% when the actuarial needs were 7-8%.
Now factor in the high propensity for the insurance companies to also be in the pension plan business.
Can we spell under-funded? How about under-funded AND only 10-12% of the absolutely necessary income on its investment portfo...
5/14/2015 at 8:19 PMPermalink
 Mark O'Byrne -
JP Morgan Cornering Silver Bullion Market  (1)
Good article.
There is one other conspiratorial reason why JPM might be accumulating major tonnage of silver.
Throughout history, silver has been the operational coin of the realm.
Consequently if confidence in fiat currency should go into the dumpster, a reasonable fall back would be to re-monitize silver in the form of coinage.
Both Canada and the USA coined lower content silver coins back in t...
5/1/2015 at 7:53 PMPermalink
 Graham Summer - Gains Pains & Capital
If Gold Is Not Money… Why Do Clearinghouses and Former Fed Chairs Say It Is  (5)
Your articles are like a breathe of fresh air.
None of this nonsense of deflation when deflation in this economic environment is an impossibility.
Yah, yah, the bobble-heads at the FED and multiple analysts claim the greatest threat is deflation when, as this article points out, the real problem is collateral asset depreciation.
Yeppers Bubba, you nailed it with the harsh fact that there is only so ...
4/29/2015 at 8:20 PMPermalink
 Dan Popescu - GoldBroker
Switzerland and Gold: What Next  (3)
Admittedly I only gave your article 4 stars.
The reason is quite logical once you spend a few moments in contemplation.

You presented a graph of "World Gold Reserves – Top 20 Holders (Tonnes)".
In logic there is a term called reductio ad absurdum; reduce it to the level of absurdity.
Then see if it is still logical.

If country X only has $120,000 in cash/cash equivalents in its cent...
4/22/2015 at 8:47 PM  1  0  Rating :  1 Permalink
 Nathan Lewis - New World Economics
A Few Facts About U.S. Tax History  (5)
"I don't agree with the notion that "corporations don't really pay taxes, people do." Actually, corporations do pay taxes. The indirect payers of these taxes is of course the corporation's shareholders, not some nebulous "people". Corporate tax rates and top individual tax rates should really be in line with each other."

You just don't get it, do you?
All monies that go to pay taxes are harvested fr...
4/19/2015 at 9:12 PM  0  2  Rating :  -2 1 AnswerPermalink
 Mish - Global Economic Analysis
Endless Supply of Rabbits Greece to Make April 9 IMF Repayment; Bond Market Unimpressed; Tsipras Heads to Russia  (1)
"Who gives a sh. about Merkel ? And or the suffering of her her her party ?"

The problem is counter-party exposure within the EU in the immediate circle and globally in the final analysis.
Merkel and company are barely holding on against those within Germany that are eager to leave the EU.
As German is the heavyweight in the EU group, their exit would trigger a vast cascade failure amongst all t...
4/11/2015 at 9:21 PMPermalink
 Mish - Global Economic Analysis
Endless Supply of Rabbits Greece to Make April 9 IMF Repayment; Bond Market Unimpressed; Tsipras Heads to Russia  (1)
It is not free.
Someone paid for it and usually that payment was taken by threat from the person who actually earned it.

However, even the National Parks Service, Fish and Game as well as other agencies are quick to tell us,
"Don't feed the animals. It habituates them to hand-outs."
In that respect you are exactly correct.
4/11/2015 at 8:40 PMPermalink
 Chris Powell - GATA
Streamline fixing of gold price in India  (1)
eg. exempli gratia, for the sake of example.

GATA has been railing against price fixing for years.
Now GATA suggests fixing gold prices in India.

What part of this hypocrisy left you dazed and confused?

You are right to ask, "Cui bono", in response to my comments.

If we assume that the world economic conditions could decline to the point where the currency of t...
4/11/2015 at 8:35 PMPermalink
 Mish - Global Economic Analysis
History Lesson for Hypocrites, Warmongers, and Fools  (4)
Mish, Mish listen. I may not agree with you on everything, but you gave a phenomenal rebuttal.
But!!! You are trying to get through to a believer.
Belief systems have the absolute requirement that any and all contrary evidence MUST be discarded without reading.
So listen devil, set down the 36" Louisville slugger and calmly back away.
Have a seat.
Say "Om."
Deep breathes and let it out.<...
4/7/2015 at 6:33 AM  1  0  Rating :  1 Permalink
 Chris Powell - GATA
Streamline fixing of gold price in India  (1)
"... based on calls made to the members of the association twice a day that reveal the quantities and price at which members want to buy and sell gold. "

"It is time the Centre evolved an independent regulatory mechanism to determine gold prices and gold trading."

Yes sir, the last thing we want are buyers and sellers aka "the market" setting the price of gold.

Is this indicative...
4/7/2015 at 5:42 AMPermalink
 Mish - Global Economic Analysis
Endless Supply of Rabbits Greece to Make April 9 IMF Repayment; Bond Market Unimpressed; Tsipras Heads to Russia  (1)
I probably should have let it go with the first post, but ...,

Consider Angela Merkel.
If she caves in to Greece, her political career and her party will suffer.
If she holds fast, Greece will default.
The German citizenry get a hefty tax increase.
If Greece should magically make the payments by alluding to cuts in the ozone layer,
everyone saves face.
Taxation laws throughout ...
4/5/2015 at 9:18 AMPermalink
 Mish - Global Economic Analysis
Endless Supply of Rabbits Greece to Make April 9 IMF Repayment; Bond Market Unimpressed; Tsipras Heads to Russia  (1)
I gave you a 1 star rating because you are delusional.
What part of smoke and mirrors do you fail to understand?

The EU can't afford Greece to default in the public purview.
Double entry book-keeping wasn't designed for the purposes of divulging data, but rather to obfuscate.
The monasteries wanted Rome to think they were heavily in debt.
If you can't dazzle them with brilliance, then ...
4/5/2015 at 8:26 AMPermalink
 Florian Grummes - The Silver GoldSpot
Gold: April 2015 Update  (1)
"I have been invited to speak at the Mines & Money Mauritius Conference in June 2015 again. If you would like to join you can receive 25% off your delegate pass by using my discount code MP995SPK."

Nuf said.
What do you fail to understand?
3/30/2015 at 7:51 AMPermalink
 Nathan Lewis - New World Economics
Greece Needs the Magic Formula to Become the Wealthiest Country in the Eurozone  (2)
Wow dude.
"Idiocracy" is obviously not just another dumb-ass movie.
I admit that I should have recognized your devotion to Brawndo (it has electrolytes) earlier.
But then again, your employer ain't so smart either.

3/30/2015 at 7:28 AMPermalink
 Jon Matonis - The Monetary Future
The Finanser Interviews Jon Matonis  (1)
"In late 2009, I got introduced to Bitcoin by a random email from Satoshi Nakamoto. I didn’t give it much thought at the time and then 3-4 months later I started to focus upon it."

From Wikipedia:
Feb 2010 – May 2010 value was less than $0.01
From Google: Today 29 March 2015 $244.01

Please God, just one more big score.
As an example: $500 paid in May 2010 @$0.01 = 50,000BTC
3/29/2015 at 6:36 PMPermalink
 Mark O'Byrne -
Oil Surges, Gold and Silver Spike as Saudi Arabia Bombs Yemen
"That a country would choose to directly intervene militarily in the affairs of another country is a dangerous precedent, ..."

What did the USA and coalition forces do in the middle east? England's hands are just as dirty.
What about Israel's actions against its neighbors?
And the Saudis have sponsored terrorism for decades. Examples: Iraq and Syria.

Complete ...
3/26/2015 at 7:46 PMPermalink
 Mac Slavo - ShtfPlan
Water Wars Loom Over California As Farmers Lose Thousands of Jobs: “Wrestling Match Over Who Gets the Water”  (4)
Ellen Brown should stick to what she understands versus geology, hydrology and financially available technology.
"With discussions of vast supplies of “primary water” stored deep in the earth’s mantle and scientifically proven schemes to desalinate ocean water or capture greater amounts of rainfall, ..."

1. Water in the mantle is out of reach by a couple hundred miles under the continen...
3/26/2015 at 7:33 PM  2  0  Rating :  2 1 AnswerPermalink
 Mish - Global Economic Analysis
Return of the Buggy Whip; Streetcar Named Imprudent  (2)
You nailed this one. Big thumbs up.
Reminds me of that "The Simpson's" episode about Shelbyville and a monorail.
3/15/2015 at 3:00 AM  1  0  Rating :  1 Permalink -
Here's What Will Send Oil Prices Back Up Again  (2)
"Admittedly there has been a production surplus since the beginning of 2014 but that is nothing new and is forecast to be back in balance by the end of this year. The increased production, then, is in response to increasing demand; hardly a recipe for a protracted period of low prices. "

Yes, increased demand when wages have flat-lined for years.
Perhaps you think bunker oil feeding the Baltic Dry ...
3/5/2015 at 1:42 AM  1  0  Rating :  1 Permalink
 Bob Hoye - Institutional Advisors
Another Clinton Scandal  (3)
O, Mr Hoye you must have really infuriated the Clintonistas.
Before I voted, you only had 1 vote that was a one star.

I tend to think that there is a subset of Americans that really want the rise of an American royalty.
We had Camelot.
We had the Adams family.
We had Bush and his subordinate, Shrub.

Don't forget our greatest disaster, the Roosevelts.

But we are talking ...
3/5/2015 at 1:27 AM  1  0  Rating :  1 Permalink
 John Rubino - Dollar Collapse
Apple's iWatch and Some Crazy Gold Numbers  (2)
Oooo, let me think about this.
I have forward guidance about gold-bearing Timex® equivalents that are supposedly gonna be made by Apple/Foxconn/we make stuff cheap.
Or I can buy a couple ounces of minted gold and buy a genuine Timex® at a lower price.
Which will bring the highest dollar at "We Pay Cash for Gold" outlets?

This way to the egress, 25¢.
People will buy Apple's watch.
3/5/2015 at 12:47 AMPermalink
 Gordon Long - Market Analytics
Financial Repression Authority with Mebane Faber
"The US is only about 50% of global market cap but most US investors have a 'hometown bias" of having 70% of their portfolio in US securities. Faber has found that it consistently ranges from as low as 65 to as high as 85%. Meanwhile, when considered on a GDP basis the US is only about a fifth to 25% and on a valuation basis is the third most expensive. This would suggest the US has a headwind, especially after ...
3/3/2015 at 8:46 PMPermalink
 Mark O'Byrne -
Bondholders “Bailed In” In Austria – EU Bondholders Today, U.S. Depositors Tomorrow
"“Bail-in is now the rule” as Irish finance Minister Michael Noonan warned in June 2013. Noonan admitted that the move to not maintain deposits as sacrosanct was a “revolutionary move.”

The one thing we learn from history is that we learn nothing from history.
In the USA, after the Banking Act of 1933, deposits suddenly were insured (in 1934 - $2500, today - $250,000 for a 100X increase).
Prior ...
3/3/2015 at 7:59 PMPermalink
 Mish - Global Economic Analysis
Illinois Pension Plans 39 Funded; Taxpayers On the Hook for $105 Billion in Liabilities; It Will Get Worse!  (2)
And it gets even worse.
The unfunded pension liability monies aren't invested and never will be.
You can't pay pensions out of an unfunded investment scheme.
3/2/2015 at 11:49 PMPermalink
 Keith Weiner - Monetary Metals
A Salvo in the Battle for the Gold Standard  (5)
I would argue that the devil is in the details, i.e. the definition of money.
What the people of the US are using is currency.
Currency being defined as the current medium of exchange.

Those who trot out the Constitution are for the most part delusional about what constitutes money.
Article I section 8 and 10 make it perfectly clear that only the Federal gov't can coin money.
Ergo by the...
2/27/2015 at 4:41 AMPermalink
 Mish - Global Economic Analysis
Emails From Kiev: Free Speech Vanishes, Total Media Thought Control; US Radar System Falls ...  (1)
"The problem is, the asshats associated with Poroshenko are even worse than he is."

I'm assuming you mean the predators in the US White House and Congress?
2/25/2015 at 8:22 PMPermalink
 John Rubino - Dollar Collapse
Greece Is Fixed! Oh, Wait...  (1)
This might just be the most prophetic statement yet.
"A few months of breathing room just gives savers a chance to get out in a leisurely rather than panicked way."

Bank runs tend to become complete panics.
So instead of runs, the savers will casually stop-by and withdraw some money in the next few weeks.

The public reacts to what is perceived as important.
Casual doesn't even raise...
2/21/2015 at 7:39 PM  1  0  Rating :  1 Permalink
 Mish - Global Economic Analysis
Lacy Hunt on Financial Repression; Deleveraging Not  (2)
"Therefore record low inflation ..."
Previously Lacy Hunt was with the Federal Reserve in Dallas.

It would appear there must be some confusion.
According to the linked to pdf, the USA has experienced several deflationary periods.
Now wouldn't real def...
2/21/2015 at 1:06 AM  1  0  Rating :  1 Permalink
 Mish - Global Economic Analysis
NSA Hacks Into Sim Card Makers Giving US and UK Criminals Access to Millions of Cell Phones  (1)
"PRIVACY ADVOCATES and security experts say it would take billions of dollars, significant political pressure, and several years to fix the fundamental security flaws in the current mobile phone system that NSA, GCHQ and other intelligence agencies regularly exploit."

"The only way to stop this sh*t is to press charges, find the NSA guilty and send those responsible to prison."
Easier said than done...
2/20/2015 at 4:54 AM  1  0  Rating :  1 Permalink
 The Life Sciences Report
Immuno-Oncology Promises Continued Wealth and Health: LifeTech Capital's Stephen Dunn
Who is going to pay these prices for the treatment?
Perhaps the 1%ers might have the income stream, but what percentage of them will need it?
Now factor in the length of drug patent rights.

All I see is a pump and dump.
The majors eventually buy the minors to acquire all the research and then write the cost off against taxes.
Never argue with success.
2/19/2015 at 9:06 PMPermalink
 Mish - Global Economic Analysis
Ceasefire or Not Will Kiev Honor Agreement Poroshenko Says "Prepare for Martial Law"  (2)
First, last, and always, wars are fought over resources.
In the case of a civil war, those resources are predominantly the tax revenue stream and the underlying real estate/industry that supports the revenue stream.
Now factor in the absolute requirement to maintain that revenue stream in order to service national debt.
The real estate and industry is the collateral that made it possible for Ukraine ...
2/15/2015 at 8:17 PM  1  0  Rating :  1 Permalink
 Mish - Global Economic Analysis
Senator Inhofe Sponsors Ukraine Military Weapons Bill Based on Images of Russian Soldiers in Georgia in 2008  (2)
Perhaps nobody noticed that the pictures were NOT taken during this winter.
This is absolute proof that Sen Imhofe, his aides and probably most of the Senate is composed of complete idiots.
How in the hell does someone NOT notice something so blatant as the green vegetation?
Must have been an anomalous weather system that made it comfortable for the troops to be wearing summer battle dress.
And ...
2/14/2015 at 4:13 AM  3  0  Rating :  3 Permalink
 Chris Powell - GATA
Doug Casey's omniscience vs. the many records of gold price suppression  (4)
Doug Casey found guilty of incompetence by innuendo concerning the world-wide conspiracy to manipulate gold prices.
No hard evidence required, just admissions that banks regularly buy and sell in the gold market.

If GATA had hard evidence, why have they had such massive failures in the courts?
If GATA had proof, why are only the conspiracy theorists aligned with GATA?
If GATA could sway a co...
2/12/2015 at 9:43 PM  3  1  Rating :  2 1 AnswerPermalink
 Mish - Global Economic Analysis
ECB Cancels Greek Bank Funding; ECB vs. Novices; Brass Knuckles  (2)
If the Greeks should select what is behind door #3, then maybe the Greeks aren't the only ones that should put their money in their pockets rather than leave it stashed at the bank.

Consider the paraphrased "Laws of Thermodynamics" that oddly enough pertain to just about everything.
Everything is connected to everything.
Everything has to go somewhere.
There ain't no such thing as a free lun...
2/5/2015 at 7:37 PMPermalink
 Mish - Global Economic Analysis
More Obama Dead-on-Arrival Tax Proposals
I'm betting on Obama and company's grasp of game theory. Here are some basics.
1. I'm gonna do good stuff.
2. Corporations are sitting on $2 trillion overseas to get out of paying their fair share.
3. I had bi-partisan support for the stuff I was gonna do.
4. But the republicans control both houses and refuse to tax the corporations that support them.
5. The republicans are obstructionists.
2/2/2015 at 6:39 AMPermalink
 Nathan Lewis - New World Economics
When Even the Fed Is Confused, We Still Have Some Work To Do  (1)
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-t...
2/1/2015 at 9:14 PMPermalink
 Graham Summer - Gains Pains & Capital
Why Are Central Banks Terrified of Debt Restructuring  (4)
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 w...
2/1/2015 at 8:33 PM  1  0  Rating :  1 Permalink
 Jeffrey Lewis
Dollar Denial Ain't Just a River  (3)
"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 purchasin...
1/24/2015 at 1:34 AMPermalink
 Mish - Global Economic Analysis
Swiss Peg Removal: Did Anyone Win  (2)
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 cl...
1/19/2015 at 10:18 PMPermalink
 Jesse - Le Cafe Américain
Gold Daily and Silver Weekly Charts - Gold Makes a Move to Break Out  (2)
"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...
1/13/2015 at 3:35 AM  1  0  Rating :  1 1 AnswerPermalink
 dineshhx -
Gold and silver currency World Gold Production Statistics by Country  (1)
Although gold production can be an important source of a nation's income stream, it is relative to each nation's economy and its population base.

As an example consider US production of 227 tonnes.
This is roughly 6 million ounces and at $1200 in USD per ounce, it totals roughly $7.2 billion.
Current estimates of the 2014 GDP for the USA is about $17.5 trillion*.
Works out to about 0.0004%...
1/12/2015 at 11:39 PMPermalink
 Chris Martenson
The Road To War With Russia  (4)
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 ...
1/11/2015 at 8:46 PM  3  0  Rating :  3 Permalink
Under or Unreported 2015 Opportunities, Threats, Possible Catastrophes  (2)
"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 nomin...
1/10/2015 at 3:44 AMPermalink
 Jesse - Jesse's Cafe
January 8: Andrew Jackson Day Remembered  (22)
You eulogized the thief.
1/10/2015 at 3:06 AM  0  1  Rating :  -1 Permalink
 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.

1/10/2015 at 2:40 AMPermalink
 Mish - Global Economic Analysis
Wading Through Molasses: "Did the Real Economy, Not Counting Government, Expand in Last 20 Years"  (1)
"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?
1/10/2015 at 2:22 AMPermalink
 Jesse - Le Cafe Américain
Secrets of the Manor House: From the Edwardian To the Modern  (1)
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.
1/8/2015 at 6:45 AMPermalink
 Jim Willie CB - Hat Trick Letter
Widespread Deceptions Hall of Mirrors  (4)
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 fro...
1/8/2015 at 5:03 AM  1  1  Rating :  0 Permalink
 Mish - Global Economic Analysis
Eurozone Falls Into Deflation; ECB About to Do Something Stupid  (1)
"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 th...
1/8/2015 at 4:37 AMPermalink
 Bill Downey - Commodity Trader
Gold and silver support and resistance charts for Wednesday  (1)
"... which has seen European equities move into positive territory ..."
"... December was the first deflationary month for the Eurozone ..."

Does this mean deflation is positive?
1/8/2015 at 4:11 AMPermalink
 Axel Merk - Merk Fund
Is Your Portfolio Ready for 2015 #crash  (1)
Close, but close is only good in horseshoes and hand grenades.

"If you put the numbers together, even in a low volatility environment, it can cost 4%-5% annually to protect an equity portfolio against a 15%-20% correction."

4%-5% insurance costs.
2% official inflation.
9%+ unofficial inflation rate.
Splitting the difference makes it a total cost per annum of 10%.

Your portf...
1/8/2015 at 4:00 AMPermalink
 Mark O'Byrne -
Bitcoin Down 12 Percent this Year -Hackers Show Online Risk  (1)
There is real money.
There is paper money.
Then there is vapor money.
Hot air money substitutes WILL always face entropy.
Bet on it.

1/7/2015 at 10:02 PMPermalink
 Jesse - Le Cafe Américain
The Great Fallacy That Is at the Heart of Modern Monetary Theory  (1)
Wow dude, you wound your tale all around the major fallacy in MMT, but missed the target.
Assumption #1
Sovereign government is a fallacy.
Sovereignty requires the ability of stand alone.
Government can NEVER be sovereign.
Which came first, people or government?
People can't create a sovereign that governs them.
The individual can NOT make themselves slaves.
So how can a sovereig...
1/2/2015 at 9:50 PMPermalink
 Jesse - Le Cafe Américain
Gold Daily and Silver Weekly Charts - And the First Runner Up Is....  (2)
"... , I would like to see gold run a bit in value, mostly making up for lost time as it were, before nations get involved and start trying to fix its prices officially. "
I'm assuming you desire this so you can trade real tangible money for depreciating currency.
Most folks in Zimbabwe are millionaires several times over.
Let us know how this works out for you.
1/1/2015 at 1:50 AMPermalink
 Mish - Global Economic Analysis
Bluff of the Day: Germany Warns "Greece is No Longer of Systemic Importance For the Euro"  (3)
When you owe the bank €500K, you have a problem.
When you owe the bank €245 billion, the bank has a problem.
Who's Target2 account will take a serious hit?
What banks will see their tiny reserves vanish?
Does the memory of the AIG collapse ring any bells?

Ya'll let us know how that counter-party risk exposure thingy works out for you.

Everything is connected to everything. (coun...
1/1/2015 at 1:38 AMPermalink -
Did The Saudis And The US Collude In Dropping Oil Prices  (1)
Please stand by as the "Law of Unintended Consequences" consolidates.
Oh and you might take the time to remember who's bright idea it was to try to spank the bear.

Bad boys, bad boys, what'cha gonna do? What'cha gonna do when the bear eats you?
12/29/2014 at 9:14 PMPermalink
 Mish - Global Economic Analysis
Russia Debt One Grade Above Junk With Downgrades Coming, How Likely is Default  (1)
"Russia has about $4000 billion in foreign currency reserves, ..."

I think you got a heavy finger on the zero key.
$400 billion is probably the right figure.

Compare the size of these bail-outs against the size of the US Fed bail-outs.
Apples and oranges perhaps or perhaps not.

"In fact, one has to wonder if the impending downgrade to junk is politically motivated."
I cont...
12/28/2014 at 3:45 AM  1  0  Rating :  1 Permalink
 Mish - Global Economic Analysis
New York Times Asks Obama to Prosecute Cheney; Outsourced Torture  (6)
Although I find ready agreement with most of your post, I have a serious problem with this:

"Starting a criminal investigation is not about payback; it is about ensuring that this never happens again and regaining the moral credibility to rebuke torture by other governments."

Nonsense! Were this not about payback, we would hold an official "Truth and Reconciliation" program similar to the one h...
12/23/2014 at 11:23 PM  3  0  Rating :  3 1 AnswerPermalink
 Mish - Global Economic Analysis
Spain to Suspend Evictions, Rewrite Bankruptcy Law Making Mortgage Debt Dischargeable  (3)
"... negotiate funding agreements with creditors for half of the accrued liability ..."

The devil is always in the details.
Accrued liability versus initial liability perhaps?

Things just keep getting interestinger and interestinger.

12/23/2014 at 4:05 AMPermalink
 Jeffrey Lewis
The Price of Everything and the Value of Nothing  (4)
Debt Jubilee? Not gonna happen.
1. All collateral will be seized before any debate on debt forgiveness happens.
2. All pension plans will be nationalized under the guise of securing the pensioner's financial safety.

Now if we consider the Jubilee of the Old Testament, it only came the year after the seventh Sabbatic year aka every 50 years.
Debts were forgiven the Sabbatic year (every 7 year...
12/23/2014 at 3:54 AM  3  0  Rating :  3 Permalink
 Richard Mills - Ahead of the Herd
Chinese Copper Elephant  (2)
If some of the central African countries, such as Nigeria, get their politico-economic acts together, then increased demand for base metals, especially copper, could go to extremes as well. Consider the potential demands for electrification in Nigeria alone. Refrigeration, air conditioning, lights and entertainment. Then manufacturing which will grow in-country to help meet demand.
Depending on how each inve...
12/21/2014 at 10:10 PMPermalink
 Clive Maund
Gold Market Update  (2)
1. Charts only tell you what already happened.
2. Charts can tell you what is possible, but never probable.
3. Charts more often than not only reflect the technicals aka what the other fools did.
4. Read #3 again and realize that many analysts think they are psychology experts.
5. Technicals are always about psychology.
6. The technical analysts aren't qualified or licensed to practice psycho...
12/16/2014 at 5:42 AMPermalink
 Alasdair Macleod - Finance and Eco.
Spare dollars  (5)
The silk road will require building immense infrastructure.
China can spend a lot of US$ in other countries hiring contractors, etc.
In country it might be a good time to upgrade all the required construction equipment to brand spanking new US manufactured yellow junk.
China will undoubtedly source raw material from outside China and pay for it with US$.
Maybe contract the Korean to build a few ...
12/13/2014 at 9:21 PMPermalink
 Bron Suchecki - Perth Mint
Why WGC's India gold policy won't make much impact on import "problem"  (1)
I'm suspicious of all surveys. I've yet to meet one that wasn't a push-poll.
In this case I would ask what should be the #1 question of those polled, "Do you physically own gold?"
Hypothetical polling questions will only get you hypothetical answers.
12/12/2014 at 9:49 PM  1  0  Rating :  1 Permalink
 Mish - Global Economic Analysis
Illinois Passes Law Making it a Felony to Video Police; How to Stop Police Abuse; More on CIA Torture  (5)
Thanks Mish.
We now have a rare and unique opportunity before us.

Article VI second paragraph of the US Constitution requires that Treaties, once signed, become the Supreme Law of the Land.
Yah, higher than the Constitution.
Even higher than Executive Orders.

POTUS is now required by international law and the US Constitution to turn the perps over.
Oooo. Looks suspiciously lik...
12/11/2014 at 2:45 AMPermalink
 Chris Powell - GATA
Chris Powell: Gold market manipulation -- Why, how, and how long  (4)
"The futures markets are not manipulated; the futures markets are the manipulation."

Those of us old enough, operatively literate and still of sound mind can remember that the operations of the London Gold Pool back in the 60's was in the newspapers on TV and radio. There was no secret. No conspiracy because that requires secrecy.

Then over the decades, the manipulation morphed with the advent ...
12/10/2014 at 10:37 PMPermalink
 Mark O'Byrne -
European Banks At Risk Of Bail-Ins In 2015 - Moody's and SP Warn  (1)
If there is little likelihood of of an adverse outcome, then there is little need to establish contingency plans and buy insurance.
When multiple parties jointly decide on contingency plans and insurance, then instead of the conditional "if" one might want to substitute the word "when".

Now if a system can't protect itself from itself and instead looks to depositors for bail-in monies, then perhaps...
12/9/2014 at 10:31 PM  1  0  Rating :  1 Permalink
 Michael Pento - Delta Global Advisors
Why Wall Street and Governments Hate Gold  (7)
Were there a CITI bank locally, it would be interesting to take Mr. Buiter's statements in and apply for a 10 year interest-only loan for at least $20K at 5%.
5% is much larger than T-bill interest.
Then buy gold and silver.
The interest payment would be $1000 per year and when the price of PMs rises substantially, sell just enough to pay off the debt.
Pocket the rest.
Call it the bank's well...
12/8/2014 at 10:37 PM  4  0  Rating :  4 Permalink
Gold coins: the United Kingdom´s Gold Britannia  (1)
"The Britannia is available in four different finenesses of 1 ounce, ½ ounce, ¼ ounce, as well as 1/10 ounce."

You all need to proof read before you post.
The Britannia is available in four different "weights"...
All have the same fineness of .917.
12/7/2014 at 6:23 PM  1  0  Rating :  1 Permalink
 Mac Slavo - ShtfPlan
“$38 Billion Reasons” 2nd Amendment is Crumbling: Bloomberg Targets 12 More States with Gun Control  (1)
It would appear that the modern day robber barons are getting worried that the masses would eschew pitchforks and choose firearms as their weapon of choice when they go after these monopolistic money whores.

Whenever you hear the term, "For the children", it is a safe bet that it is a lie.
Altruism doesn't exist.
Real altruism is anonymous. Everything else is for personal glory.
12/6/2014 at 10:44 PM  1  0  Rating :  1 Permalink
 Jesse - Le Cafe Américain
Switzerland Leads In Gold Sales Among Central Banks Since 1993  (1)
Whenever I see someone refer to percentage of gold as part of a nation's foreign reserves, I immediately know that the person presenting that figure hasn't a clue as to what it really means.

So here is the scoop.
A high percentage of gold as part of a nation's foreign reserves typically signifies a negative balance of payments.
If a nation exports more in cash value than it imports, the percent...
12/1/2014 at 10:29 PMPermalink
 Mark O'Byrne -
Swiss Gold No - Repatriation, Demand from Russia, India and China More Important  (2)
“the result confirms the confidence of the population towards the SNB and its recent monetary policy",

Typical grandstanding after almost experiencing a pandemic of incontinence and diarrhea.
I dare say that this has nothing to do with confirming confidence.
With the Swiss vote at 77.3% against, what do you reckon a hypothetical USA vote would be?
I would bet >92% against.
Call it a Pav...
12/1/2014 at 9:38 PMPermalink
 Alasdair Macleod - Finance and Eco.
Russia’s monetary solution  (7)
Sooner or later bullies get waylaid. A baseball bat always get their attention.
When you decide to play economic warfare it is always a good idea to remember, "he who holds the gold, makes the rules".
Play ball by the rules or find that bat shoved up your ... .
The US and the EU will find that Putin and Co. can play a mean Louisville Slugger with the best of them.
To paraphrase Mark Twain, "It is...
12/1/2014 at 2:26 AM  2  0  Rating :  2 Permalink
 Mish - Global Economic Analysis
Podemos "Economic Manifesto" Calls for Debt Restructuring, Spain to Abandon the "Euro Trap"  (1)
"Eventually, there will come a time when a populist office-seeker will stand before the voters, hold up a copy of the EU treaty and (correctly) declare all the bail out debt foisted on their country to be null and void. That person will be elected."

The world had better dread the accuracy behind your predictions.
I truly fear you are correct.

"If Spain had one person in five in public serv...
11/30/2014 at 8:49 PMPermalink
 Andy Sutton
The Minimum Wage Farce A Case Study  (1)
If establishing a minimum wage works, why do we have this pretty much identical discussion every couple three years?

"Another argument is that we need a minimum wage to guarantee that folks can earn a subsistence level wage."

Don't forget the first cousin of the above argument.
People can't raise a family on the minimum wage.

Awhile back the states sued the federal government over ...
11/25/2014 at 11:30 PMPermalink
 Michael Pento - Delta Global Advisors
Japan's Last Stand  (1)
I think there is more to the story than meets the eye. Consider this:
"In addition to this, Japan's state pension fund (the GPIF), intends to dump massive amounts of Japanese government bonds (JCB's) and to double its investment in domestic and international stocks. "

The pension system is converting assets in JCB to equities.
If the businesses survive, then mayhaps the investment has greater p...
11/21/2014 at 7:07 AMPermalink
 Bob Hoye - Institutional Advisors
Outstanding Political Insults  (1)
"Last week he dismissed the idea of impeaching President Obama for violating the constitution with "Have you met Joe Biden?""

But never forget, Joe Biden was tapped for the VP slot rather than Hillary Clinton.
11/19/2014 at 8:17 PMPermalink
 Jesse - Le Cafe Américain
Moyers: Our Democracy Is Flatlined - Moneyed Interests and Politics  (4)
The author seems to have no knowledge concerning this nation and its Constitution (USC).
1. The word democracy doesn't exist in the USC.
2. Some famous guy said something to the effect of: The opinions of 10,000 men mean nothing if they don't know anything about the subject.
3. It is always about the money.
4. If you haven't anted up to be in the game, shut up!
5. The vast majority of citizen...
11/16/2014 at 9:46 PM  1  1  Rating :  0 Permalink
 Bob Hoye - Institutional Advisors
Curiosities  (4)
I was gonna stop with the previous post, but sometimes it becomes obvious that truth must be outed.

There is an additional aspect to the old money investments versus investments in disruptive technology that sets liberals butts on fire.
New investments threaten the social blackmail that is already streaming revenue to somebody's sacred cow.

Ever notice the demands made by locals with the pu...
11/14/2014 at 12:37 AM  2  2  Rating :  0 Permalink
 Bob Hoye - Institutional Advisors
Curiosities  (4)
It is always about the money.
Only my opinion but based upon 45-50 years of observation.
Democrats tend to protect old money. Old money defined as monies already invested and returning a profitable revenue stream.
Republicans favor new money generation. New money can only be created through a process now termed disruptive technology.
Disruptive equates to a real threat to old money...
11/13/2014 at 8:58 PM  3  2  Rating :  1 Permalink
 Jesse - Le Cafe Américain
Audacious Oligarchy  (2)
Historically speaking, nothing has changed beyond another futile attempt to impose social democracy.
It NEVER worked in the past.
What logical reasoning person would think it will this time?

Someone pulls the rickshaw, someone rides.

Simple 5 step program.
1. Earn
2. Save
3. Invest
4. Reinvest
5. Become another oligarch.

Then you too can have talking hea...
11/11/2014 at 10:17 PMPermalink
 Andy Hoffman - Miles Franklin
Catalon-Astrophe  (2)
Catalon will face stiff resistance should it continue to pursue independence.
The Spanish Supreme Court ruled independence out.
Rajoy now has the legal authority to prevent it.
The only way to prevent independence is by overwhelming force.
This is absolute proof that modern democracies are in fact dictatorships.

You do NOT have the right of association. That is the very d...
11/10/2014 at 10:19 PM  2  0  Rating :  2 Permalink
 Chris Powell - GATA
John Crudele: U.S. economic growth is all illusion  (1)
The content is irrelevant and effectively worthless.
Had the NY Post printed this before November 4th, it would had worth.
The only thing that wouldn't have been available for the article would have been exit poll results.

Exit polls are only of value to politicians.
Some famous guy said something to the effect of, "The opinions of 10,000 men has no value if they don't know anything about t...
11/7/2014 at 9:40 PMPermalink
 Mish - Global Economic Analysis
Obama's Secret Letter to Iran About ISIS: Good Idea Foolish Cooperation Hidden Agenda  (1)
I contend that sanctions exit for one of only two reasons.
1. The intent is to escalate the conflict.
2. Politicians are a direct representation of those who elected them.

Arguments in favor of each possibility.
1. Sanctions directly harm the citizenry.
This creates ill will towards the country imposing the sanctions.
Contrary to popular beliefs, the citizenry will support their nati...
11/7/2014 at 9:00 PMPermalink
 Chris Powell - GATA
What kind of financial journalism doesn't care and doesn't ask questions  (5)
"GATA consists largely of adherents of free markets and limited and transparent government who concentrate on the manipulation of the gold market because it is the essential mechanism of market rigging generally and the accumulation of absolute power in government."

Free markets never existed and never will. Whether it be November 2014 or November 1414, the local PTB always had their fingers in the mark...
11/4/2014 at 9:09 PMPermalink
 Frank Shostak
Nobel Winner Jean Tirole’s Faulty Views on Monopoly  (2)
Relax, Alfred Nobel knew that economics was a branch of philosophy. Philosophy being just reasoned opinion.
What Jean Tirole won was the "Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel".
Sveriges Riksbank is the Swedish Central Bank.
It is the banker's and economist's version of the "Oscars".
By using Nobel's name, they attempt to add credibility to the opinions of philo...
11/2/2014 at 1:14 AM  1  0  Rating :  1 Permalink
 Chris Powell - GATA
Koos Jansen: The great Chinese silver market debate  (1)
If a buyer is willing and able to pay 17% over spot, that 17% is effectively a premium.
Even a seller's profit margin over spot is a premium.
And anyone who buys bullion should recognize this little factoid.

Perhaps GATA and company don't buy physical?
10/31/2014 at 11:09 PM  1  0  Rating :  1 Permalink
 Philippe Herlin - GoldBroker
ECB Stress Test Results Show Banks Struggling  (1)
Excellent catch. Thanks.
Consider the question from between these lines:
"European banks hold 880 billion euros worth of bad or doubtful loans (e.g. at least 90 days late for payment), and this number represents 4% of their balance sheets. "

4% is 1/25th
880 billion X 25 = 22,000 billion euros
Gotta subtract the reserves ~ 4% or 880 billion for 21,120 billion euros.

Consider thi...
10/31/2014 at 4:38 AM  1  0  Rating :  1 Permalink
 Hugo Salinas Price -
The Fall in International Reserve Assets  (6)
Just thinking out loud, but what if you thought that some or all of the foreign reserves held at your central bank were suspect as to long term value?
Why would any sane person, corporation or country hang on to a declining asset?
Mightn't a shopping trip to buy tangibles in the country of origin be called for?
I would think tangibles in hand beat a fist full of IOUs aka government bonds and notes.
10/30/2014 at 3:45 AM  3  0  Rating :  3 Permalink
 Mish - Global Economic Analysis
Eurozone Rotting to the Core; Four Possibilities; Beyond the Math  (3)
Excellent article.
This is the big one in my opinion.
"It's a mathematical certainty that every country cannot have a trade surplus."
It needs to be repeated until it sinks in.

This realization won't help us this time, but maybe the passengers on starship Earth can remember it for the next time.
I consider this an excellent reason to clear the balance of payments every 90 days.
Any ...
10/20/2014 at 11:44 PM  2  0  Rating :  2 Permalink
 Mish - Global Economic Analysis
Challenge to Keynesians "Prove Rising Prices Provide an Overall Economic Benefit"  (2)
I gave you one star for being such a damn fool.
Turn off the money spigots.
Freeze wages and prices.
That will eliminate rising prices and to the best of my knowledge the only way to stop rising prices.
And just what the hell happens when wage and price controls are enforced? Shortages, empty shelves and a blackmarket.

Debts will clear by defaulting, banks will fail, any remaining confid...
10/20/2014 at 10:48 PM  1  0  Rating :  1 Permalink
 George F. Smith - Barbarous Relic
The Virtue of Hoarding  (15)
Excellent article.

Two major reasons why hoarding is verbotten that were missed in the article.
1. When the velocity of money slows, the tax revenue stream drastically declines.
Every transaction provides for a government skim. Half as many transactions, half as much skim.
That skim gets recycled into more transactions providing for more skim.
Simplified example:
$100 profit and the...
10/19/2014 at 10:43 PM  4  0  Rating :  4 Permalink
 Nathan Lewis - New World Economics
Russia's Currency Crisis: This Is So 2008!  (2)
"The appalling thing is that Russia’s central bank should know this, because they are the ones that did it, and it worked for them. But, they seem to have forgotten. (Presumably there are new people there now.) Monetary affairs, today, is in the hands of doofuses, in Russia and everywhere else. People don’t believe this when I say it. But, what else would you call it?"

Then again, maybe the author forgo...
10/19/2014 at 8:58 PMPermalink
 Mish - Global Economic Analysis
Post-Foreclosure Hell: Garnished Wages, Seized Assets, Deficiency Judgments  (2)
I'm not a lawyer or a judge and I don't play one on TV, but ...

I look at the XIIIth Amendment to the US Constitution and I think I might see something behind the "Great Oz" curtain.
Deficiency judgements are civil.
If you sign a contract and then refuse to abide by the conditions of said contract, is that defined as fraud?
If not currently, might it become so overnight? Who makes the rules ...
10/15/2014 at 9:44 PM  2  0  Rating :  2 Permalink
 Graham Summer - Gains Pains & Capital
This is a Recipe For a Crash  (1)
"... and things are fundamentally no better than they were before: most major banks are insolvent, one in five US mortgages is underwater, and the stock market is being largely propped up by in-house trading from a few key players ..."

"... if your portfolio is heavily invested in stocks, now is a time to be taking some profits. If you can, consider moving a sizable chunk into cash."

According ...
10/15/2014 at 9:15 PM  3  0  Rating :  3 Permalink
 Andy Hoffman - Miles Franklin
The Fed Admits Failure – Part I  (2)
One thing that needs to be remembered is "if any system, be it a lawnmower or the US economy, needs to be constantly tweaked to give the impression of being operational, then it ain't fixed". Then the question comes down to one of rational reasoning. Why would anyone send a system back to the same technicians who failed to fix it the last time? And the time before that? And before that?

The FRB was NOT ...
10/10/2014 at 9:50 PM  3  0  Rating :  3 Permalink
 Andy Hoffman - Miles Franklin
2008 Is Back With One Temporary Exception  (2)
"Hopefully, you will respond by acting to protect yourself before the “end game” of currency collapse commences. "

... before the “end game” ...
I contend it has already begun and it began a long, long time ago.
Do any of the actions taken by TBTF, TPTB, FRB, EU, etc. ad nauseum appear to be preventive measures?
Which of these actions qualify as mitigating?
Then what about repair and res...
10/8/2014 at 12:36 AM  2  0  Rating :  2 Permalink
 Nathan Lewis - New World Economics
Dozens of Countries Have Already Kicked the Fiat Currency Habit  (6)
"Dozens of Countries Have Already Kicked the Fiat Currency Habit "
"In total, there are fifty-five states and territories that have a Classical fixed-value system based on the euro. "

Wow. So the Euro is NOT a fiat currency?
Using the same reasoning, the Saudi riyal is NOT fiat because it is tied to the USD.
By your argument, the USD could then convert to a fixed-value currency by just tying...
10/7/2014 at 10:26 PM  1  0  Rating :  1 Permalink
 Rick Ackerman
How Theater Chains Can Fight Netflix  (4)
Assumption, of course, being stability or growth in disposable family income.
Almost all entertainment in the developed world has become a pay-to-play endeavor.
10/6/2014 at 7:47 PM  1  0  Rating :  1 Permalink
 Keith Weiner - Monetary Metals
Perception vs. Reality at the Fed  (4)
Perhaps Miss Carmen Segarra forgot who owns the Fed.
Ownership usually infers control.

Perception is all about "right now".
Reality imposes itself at close of business.

If you really want to sell used cars, hire a cookie-toting grandma.
Granny will be making enough in commissions to hire someone else to make the cookies.
Miss Carmen Segarra forgot she was hired to tote cookies.<...
10/3/2014 at 11:41 PM  1  0  Rating :  1 Permalink
 Egon von Greyerz - Matterhorn AM
Will this save the Swiss financial system  (4)
1. Where will the money come from to buy the gold?
2. What will this additional demand do to the price of gold?
3. What will be the social cost to the Swiss for attempting this gambit? Please pay particular attention to the word "attempt" in the preceding question.

Now try to imagine the probable outcome if several countries were to attempt this same tactic at the same time.
Interesting time...
10/3/2014 at 10:26 PMPermalink
 Chris Powell - GATA
Putin adviser suggests Russia knows all about West's gold price suppression  (6)
Here is the Communitarian plan of attack.
The main body begins under the Heading: A Social-Conservative Synthesis

You have been warned.
9/28/2014 at 8:11 PM  2  1  Rating :  1 Permalink
 Mish - Global Economic Analysis
Housing Early Warning Stress Indicator On Rise  (1)
HELOCs don't stay interest-only forever.
Can you imagine the effect of this with the household's budgetary normalcy bias in place all these years?

9/25/2014 at 9:09 PMPermalink
 Andy Hoffman - Miles Franklin
The Grotesque Face of Irreversibly Destroyed Capital Markets  (3)
"Supposedly, “new home sales” surged by 20% in August, ..."

"For those of you that thinking I’m “missing something,” pray tell how home sales can surge when both mortgage applications and cash purchasing applications are in rapid decline?"

20% of what? 20% compared to what?
It states sales. What is the unit in this "home sales" that was evaluated? Houses? Amount of money changing hands in t...
9/25/2014 at 12:34 AM  4  0  Rating :  4 Permalink
 Charleston Voice
Germany's Stolen Gold Reserves - Times are changing - the debts remain (Russian)  (2)
Germany's gold is just as safe and secure as its Target2 account holding over 460 Milliarde* Euros.
Is that 460 Milliarde Euros just a computer entry and no physical monies exist?

But like many accounts, there are substantial penalties for early withdrawal.
The banks decide what is early and what are the penalties.
The banks decides force majeure.
Surely no one would suggest converting...
9/19/2014 at 8:01 PM  4  0  Rating :  4 Permalink
 Andy Hoffman - Miles Franklin
If A Nuclear Bomb Destroyed Europe…  (3)
"To that end, we have warned of the dangers of relying on newsletter writers for years, particularly those utilizing “technical analysis” without any regard for fundamentals, valuations and – oh yeah – the aforementioned manipulation representing the single more important aspect of precious metals “trading.”"

Isn't manipulation by definition a "technical"?
Haven't you pointed out the trend in sellin...
9/15/2014 at 9:57 PM  3  0  Rating :  3 Permalink
 Nathan Lewis - New World Economics
Japan's Graying Population Needs New Solutions, Not Old Failures  (2)
"You might not like my ideas, but they are likely to come about, in some form, whether you like them or not."

Your right, I don't. But my likes or dislikes don't alter the coming reality.
If anything you sugar-coated the coming reality for not just Japan, but the entire world.

Historically speaking:
1. Extended family households were the norm.
2. There was only a small middle class...
9/15/2014 at 8:59 PM  1  0  Rating :  1 Permalink
 Richard Mills - Ahead of the Herd
A Dog’s Life  (2)
"... a potential recovery time of 4-10 years."

Total BS. 20-50 years minimum.

Just consider food production and distribution.
Does anyone honestly think the people will peacefully stand in line for rations that may or may not arrive?
Does anyone honestly think the mega-cities will survive without the daily massive inputs?
What about potable water? How is it going to be distributed?...
9/14/2014 at 11:15 PMPermalink
 History of Gold - 24hGold
Gold and Silver were brought here by comets and asteroids  (10)
The level of utter nonsense you spewed is overwhelming.
1. Only auric chloride has a somewhat low SG of 3.9. The average crustal rock comes in about SG=2.65
The rest of the auric compounds run from about SG=7 and higher. Consult the "CRC Handbook of Chemistry and Physics" for confirmation.
2. I'm calling BS on your supposed assay results. The secret special assay scams have been around since the days...
9/13/2014 at 8:06 PM  3  0  Rating :  3 Permalink
 Andy Hoffman - Miles Franklin
Secession Movements Gaining Momentum  (1)
Technocrats, bureaucrats and politicians seemed to have forgotten the term "Political Economy".
It is always about the money; the taxpayer's money.

9/12/2014 at 9:01 PM  1  0  Rating :  1 Permalink
 Mark O'Byrne -
Panic On The Streets Of London ... Can Scotland Ever Be The Same Again
Once the banks leave Scotland, they become foreign entities.
How's that working out for the financiers that loaned Argentina money?
It is a lot easier and less of a problem to repudiate a debt to a foreign company than a domestic one.

Then there is BP.
Many a country has nationalized resource assets when a foreign corporate entity gets a bit large in the britches.

Of course this ta...
9/12/2014 at 8:33 PM  1  1  Rating :  0 Permalink
 Jeff Clark - Casey Research
Hold, Fold, or Be Bold  (1)
"Every investor has to make his or her own decision. Do you accept the headlines at face value, or do the underlying data show that gold demand is stronger than reported?"

Remove the word "gold" from the second sentence. Replace with "corn", "wheat", IBM or anything else and then ask yourself, "Will I wait for a rapidly rising market to buy or do I buy at fire-sale prices?"

I contend that most ...
9/11/2014 at 10:05 PM  2  0  Rating :  2 Permalink
 Jeffrey Lewis
Stuck Inside of the CME with the COMEX Blues Again  (2)
"Prices are not going to move up from here until the paper pushers who control prices via the exchanges find a way to profit from it."

The markets have always been manipulated and the "paper pushers" have long known how to profit from a rising price.
Two general mechanisms are available.
Volatility and trend.
Now add the common investor (poor gambler) and their propensity to over-leverage a ...
9/9/2014 at 7:52 PM  3  0  Rating :  3 Permalink
 Mish - Global Economic Analysis
Marine Le Pen Ahead of Hollande in France Presidential Poll; Le Pen Blames EU for Crisis in Ukraine
“The crisis in Ukraine is all the European Union’s fault. Its leaders negotiated a trade deal with Ukraine, which essentially blackmailed the country to choose between Europe and Russia,” Le Pen told Le Monde daily in an interview.

Finally, someone in France shows they have a pair of cohones.

"Citing "admiration" for Putin is probably not going to play well with French voters."

A dro...
9/7/2014 at 10:40 PMPermalink
 The Energy Report
How is Doug Casey Preparing for a Crisis Worse than 2008 He and His Fellow Millionaires Are Getting
"On the other hand, the fact that silver is mainly an industrial metal, rather than a monetary metal, is a big negative in this environment. "

Perhaps in recent history aka the last 50 years.
But historically, silver was the coin of commerce.

9/4/2014 at 6:52 AM  3  0  Rating :  3 1 AnswerPermalink
 Dan Popescu - GoldBroker
The “New” Cold War and the Power of Gold  (8)
"In this transitional period to a new world order where uncertainty and risks dominate, gold is money in extremis and the preferred central banks’ reserve. It cannot be confiscated under any form or shape if, and this is a big if, it is stored at home. United States has a long tradition of confiscation or freezing of foreign assets when it considers it in its “national interest”."

The official US gold ...
9/2/2014 at 10:26 PMPermalink
 Mish - Global Economic Analysis
More Mindless Sanctions Merkel a Liar or a Fool
Not only is the EU and the USA engaging in economic idiocy over Ukraine, but they are supporting Poroshenko in his declaration of war against his own people.
This is the equivalent of central governments authorizing and sanctioning the establishment of a master-slave relationship between central government and its citizenry(?).

What rational reasoning individual will believe that peace will ever c...
8/31/2014 at 7:05 PMPermalink
 Mac Slavo - ShtfPlan
Massive 60 Stock Market Correction Coming: “Period Of Extreme Turmoil”  (4)
You need only answer one question to yourself.
Has the US government ever fired on its own citizenry with intent to wound or kill?

If something happens once, it is absolute proof that it can and will probably happen again.
8/29/2014 at 6:20 PM  1  0  Rating :  1 Permalink
 Steve Saville - Speculative Investor
The "Escape Velocity" Myth  (2)
"However, unbeknownst to the monetary manipulators, many of the activities (speculations, investments and businesses) that have sprung-up in response to years of easy money will not be economically viable in a world where the money supply grows more slowly and interest rates are closer to a level that provides a real return to savers. "

Surely you jest. I contend that they know and acc...
8/27/2014 at 8:38 PM  1  0  Rating :  1 Permalink
 Clive Maund
Will the US succeed in breaking Russia to maintain dollar hegemony...  (17)
It is easy to forget Occam's Razor in regards to Ukraine.

For the same reasons that the North attacked the South during the US Civil War, so does Ukraine attack its own people in the East.
It is all about money in the form of resources needed to service debt.
If a chunk of any nation goes away, so goes away a chunk of a very important and needed tax base.
International debt can't be serviced...
8/26/2014 at 9:26 PM  2  0  Rating :  2 Permalink
 James Howard Kunstler
Mr. Bad Example  (26)
There is no cleaning any of this mess up because the vast majority of sorry specimens of homo sapiens refuses to acknowledge that we are barely house-broken animals.

My evidence?
Just look at the so-called 7 deadly sins:

Each of these is openly displayed and the PTB with the assistance of the media use it to keep the mas...
8/19/2014 at 7:34 PM  4  1  Rating :  3 Permalink
 Tom DiLorenzo - lewRockwell
Lincoln’s Racial Views  (6)
Even fewer of the cultist and Americans in general can accept the harsh reality that had the South won and under today's "Rules of War", Lincoln would have been tried, convicted and executed as a war criminal.

Just what kind of monster makes war against its own people? Joe Stalin, Idi Amin, the Catholic Church, Pol Pot, Sadam Hussein, etc.

Lincoln violated the basic tenet of the Constitution: C...
8/17/2014 at 8:36 PM  4  1  Rating :  3 Permalink
 John Rubino - Dollar Collapse
Variable-Rate World, Part 4: Japan's Home Buyers Up In ARMS  (3)
"... artificially-low interest rates, also known as financial repression, lead to disaster by inducing people to borrow too much money via either short-term or variable-rate loans. "

I find it odd that the essayists have a problem with intellectual honesty.
Bankers have always been enablers. That is the business of banking.
Heroin dealers sell heroin. That is the business they d...
8/17/2014 at 8:10 PM  2  0  Rating :  2 Permalink
 Peter Schiff - Euro Pacific Capital
Neighborhood Bully - America Recklessly Throws its Weight Around  (13)
"Arrogance breeds contempt. The more reckless the United States becomes in throwing its weight around, the greater the temptation will become for the rest of the world to jettison the dollar like an unwanted house guest. "

"Nothing prevents anyone from paying for oil in euros."
Or roubles, yuan, etc.

Back in the early 60's, a bully was taken down when some of his victims waited around a co...
8/15/2014 at 6:34 PM  5  0  Rating :  5 1 AnswerPermalink
 Philippe Herlin - GoldBroker
Is the Euro Zone Headed for a Recession  (2)
Headed for?

But then again, some folks actually believe officially sanctioned statistics.
Just remember, "Statistics are an opinionated interpretation" of dubious quality data.
Evidence? How often are the statistics revised and where are the revisions reported in the newspaper? Perhaps bottom outside corner of page 8 in the business section just below the advert for male enhancement products? Ho...
8/14/2014 at 8:39 PM  1  0  Rating :  1 Permalink
 Philippe Herlin - GoldBroker
Interest Rates at their Lowest: Another Reason to Buy Gold  (3)
The author is French so the counter-party reference issue might have been a translation artifact.
Your reply inferred that you got his drift correct.

The rest? I had no problem with your rant.
You're asking the right questions.
Been my experience that most citizenry don't understand enough to ask a question. Ergo my frustration.
8/10/2014 at 12:23 AM  3  0  Rating :  3 1 AnswerPermalink
 Jeff Clark - Casey Research
The Single Most Important Strategy Most Investors Ignore  (5)
And no foreign country, that you have transferred assets to, would ever dream of confiscating foreign assets held inside their country.
Oh and do you expect me and others to believe expats from the USA would remain welcomed? After who screwed the pooch on a global level?

Please identify countries that will weather the coming financial storm without levying their citizenry hard? There ain't none.
8/5/2014 at 9:22 PM  1  0  Rating :  1 1 AnswerPermalink
 Bill Murphy - Le Metropole Café
It Is Much Bigger Than You Think  (9)
1. Every participant in the market attempts to get the best deal.

2."... it has long been my opinion that JP Morgan was trading for The Gold Cartel, including the US Government, ..."
An opinion is NOT evidence.

3. Am I sympathetic towards the miners? No. I'm not sympathetic towards the oil producers just because we are past peak oil. Folks you better get your heads out of your third point...
8/5/2014 at 7:15 PM  1  0  Rating :  1 Permalink
 Bob Hoye - Institutional Advisors
Pivotal Events  (1)
"Cole Porter's classic song "I Get A Kick Out Of You" includes a fascinating line: "Fighting vainly the old ennui."

One could change it to "fighting the old complacency" and become contemplative.

Our guess has been that business reports and the stock market would be positive until the action in spreads becomes dramatic."

If we look at Maslow's Hierarchy of Needs, on the lowest tier is ...
8/3/2014 at 8:23 PM  1  0  Rating :  1 Permalink
 Jesse - Le Cafe Américain
Victorian Britain: 'Yoke Up the Children'  (6)
"... child labor was finally regulated by the US federal government in 1938."

And look at what the progressives have foisted upon us. Gang-bangers, vapid valley girls, Fools paying 10X for tuition to get degrees in Medieval Art Appreciation, 30YOs still living at home, etc.

The reality is we have entire generations with no work ethic. It didn't happen overnight. It was the elephant that got eat...
7/31/2014 at 8:30 PM  1  1  Rating :  0 Permalink
 Philippe Herlin - GoldBroker
U.S. Authoritites Starting to Worry about Deutsche Bank’s Mountain of Derivatives  (1)
"It’s a good thing that the Americans are doing (a little) the work that the ECB and the national regulation agencies should be doing."

I wonder if we need to look to the ECB for info that it is doing the job that US regulators ought to be doing. All I seem to see from US regulators over US bank holdings of derivatives is, "Nothing to see here. Move along."
7/31/2014 at 7:48 PM  2  0  Rating :  2 Permalink
 James Howard Kunstler
Excuse Me For Living  (22)
I find it odd that most of the developed world forgets that they (respectable members of the developed world) openly practiced eugenics until the horror of German Extermination camps became wide-spread knowledge.

Yes, my dearies. The USA was openly pro-eugenics. H.D. Thoreau and R.W. Emerson, supposed pacifists, were openly eugenicists.

Eugenics never went away.
7/29/2014 at 7:41 PM  8  4  Rating :  4 Permalink
 Mark O'Byrne -
EU Bail-Ins - Retrospective Bail-In Ignoring State Guarantee  (2)
So here is the game.
Hold assets outside the banking system.
Wait for a bail-in and consequent conversion of deposits to stock.
Wait for a few weeks to months and then convert your assets to cash.
Use cash to buy newly created bank stocks for pennies on the dollar.
Former depositors get screwed because:
1. They trusted the banks.
2. They carried too much debt.
And ...

7/24/2014 at 6:36 PMPermalink
 Rick Ackerman
How Will It All End  (7)
If we can take anything from history it is that for most of recorded human existence, the people lived in a strict hierarchical system with the few wealthy controlling/owning the large numbers of poor serfs. There was minimal middle class and it was composed of bureaucrats working directly for the wealthy and a few itinerant merchants.

It was like that for most of recorded history because it worked.
7/21/2014 at 9:29 PM  1  0  Rating :  1 Permalink
 Nathan Lewis - New World Economics
HTMAPODWTTC 13: Getting Other People's Cooperation  (9)
It isn't about cooperation, it is all about who is gonna pay for it and what the buyer wants.

Belief in something doesn't matter to those who believe otherwise.
Ergo things are the way they are because that is what the market bought.

You don't gain status by buying a 1/20 acre two story townhouse with zero lot line. You gain status by moving to an estate.
Homo sapiens is a social anim...
7/17/2014 at 12:02 AM  1  0  Rating :  1 Permalink
 Rick Ackerman
When Will the Fed Tighten Never.  (8)
Good article. Perhaps more emphasis on the growth of money/substitutes by banks through fractional banking and derivatives would really get the message through to the audience. However ... ,

"... and the Paul Krugmans of the world no choice but to acknowledge the epic hoax that sustained it."

Never gonna happen. They have made economics into a religion. Religion is based upon faith aka belief. ...
7/9/2014 at 10:07 PM  3  1  Rating :  2 Permalink
 Nathan Lewis - New World Economics
The "Income Inequality" Debate Is Not About Income Inequality  (4)
So much wrong with this article, it is hard to summarize without being just as long.

However, the use of the word "amoral" comes close.
The only purpose for the word is to elicit a negative emotive response from the readers towards those who admit they consider self-interest the highest priority.

Then the idea that people dislike money earned through Shylockian means is bad versus entertai...
7/8/2014 at 9:04 PM  1  3  Rating :  -2 Permalink
 Bron Suchecki - Goldchat
Why you can’t day trade Gold  (6)
Someone before me rated this article only a "1".
Obviously this must be someone who has no business investing in PMs.
Probably got greedy when they should have sat on the sidelines.
Now they blame the messenger rather than take responsibility for their own failure to pay attention to detail.
7/5/2014 at 6:35 PM  1  0  Rating :  1 Permalink
 Alasdair Macleod - Finance and Eco.
Blaming deflation  (7)
When banks borrow short and lend long, any drop in lending puts the bank on the hook for maintaining solvency and liquidity. Fractional reserve banking is completely dependent upon keeping the dance floor filled with borrowers.

The new and improved definition of deflation is loss of demand for loans. Demand is NOT about desire, but rather capability to service the debt.

The classic definition ...
6/21/2014 at 8:35 PM  1  0  Rating :  1 Permalink
 Bron Suchecki - Perth Mint
Fixing the Fixed Fix - Barclays Case  (7)
Quite informative. I've always contended that the buyer and seller manipulate the market just by participating. Further, the claims of suppression are only used when the price stays down, but that claim suddenly goes away when the price rises. Suppression only works when it is consistent. Intermittent suppression activities are just a waste of time and money. The greater the volatility, the greater the risk pr...
6/17/2014 at 8:52 PMPermalink
 Jeffrey Lewis
The Great Myth of Money Velocity  (3)
Just my opinion, but money moves through the economy at varying rates.
Slow might indicate hoarding.
Extreme rapidity usually indicates loss of confidence in the currency.

Perhaps the real problem lays with the formula?
After all, is the formula a physical law or just a consensus opinion?
Economics is NOT a science, but rather a philosophy. For some it appears to be a religion.
6/16/2014 at 1:41 AM  1  0  Rating :  1 Permalink
 Ron Paul
Mental Health Screening a Good Way to Decrease Liberty  (12)
See the DSM-5 for just how bad this will get.
Remember, it wasn't that long ago that homosexuality and hysteria were mental problems as determined by the psychs.
Never trust the psychs. For the most part, it is all based upon the opinions of pseudo-scientists.
Science is NOT driven by consensus or opinion.
Politics are. And in the USA, it is top-down in nature.

6/3/2014 at 8:19 PM  1  1  Rating :  0 Permalink
 Dan Popescu - GoldBroker
Gold and Silver – Long and Short-Term Performance  (7)
"Even for those who bought gold and silver at the top in 2011, at US $1,911 and US $46 respectively, and have now a loss of 43% and 97% respectively, ..."

Not 97%. Closer to 60%.

"Regularly I am criticized by people, mostly traders and mostly from North America, for showing very long-term charts."

You are right to use long-term charts. The distortions have been accumulating for the las...
5/30/2014 at 8:29 PMPermalink
 Mish - Global Economic Analysis
BLS Employment Projections Through 2022: How Many Jobs Require a College Degree  (1)
I contend it is probably far worse.
When has an extended labor market prediction by the BLS ever been accurate?
Did the BLS predict today's labor market correctly back in 2010?

5/29/2014 at 9:18 PMPermalink
 Mark O'Byrne -
Russia Buys 900,000 Ounces Of Gold Worth $1.17 Billion In April  (1)
You are right. 28 tonnes.
It was my breakfast menu.
2200 avdp lbs per metric ton (tonne).
5/22/2014 at 5:58 AM1 AnswerPermalink
 Mark O'Byrne -
Russia Buys 900,000 Ounces Of Gold Worth $1.17 Billion In April  (1)
T'were my math that was the problem.
900,000 ozt divided by 12 ozt/troy lb divided by 2200 = 35 tonnes

Must have had 2 or 3 bowls of dumb-ass for breakfast to screw up simple math so bad.
5/22/2014 at 5:48 AM  1  0  Rating :  1 Permalink
 Mark O'Byrne -
Russia Buys 900,000 Ounces Of Gold Worth $1.17 Billion In April  (1)
"Last year we bought about 100 tonnes. This year it will be less but still a considerable figure," Shvetsov told Reuters at the time.

The Russian central bank has again increased its gold reserves by another 900,000 ounces worth $1.17 billion in April.
900,000 ozt divided by 2200 ozt/mt = 409 tonnes.
Since when is 409 tonnes < 100 tonnes?
No doubt 409 tonnes is still...
5/21/2014 at 8:33 PM  1  0  Rating :  1 1 AnswerPermalink
 Mish - Global Economic Analysis
Coming Major Slowdown in Germany - How to Play It  (3)
Germany's Target 2 balance of 477 Billion Euros doesn't do the German economy much good if the counter parties don't produce any goods that Germany wants or needs.

The German slow-down will continue until it stops. One way or the other.
5/15/2014 at 3:01 AM  3  2  Rating :  1 Permalink
 Mish - Global Economic Analysis
Housing Starts in China Plunge 25; Did China's Property Bubble Finally Burst  (2)
Do not go over to the dark side.
A slowing in the rate of growth only means that growth is slowing, BUT still growing.

The real problem is in the slowing of the perceived value of new assets.
The valuation of new assets provides an excuse to inflate the money supply.
Fiat monetary systems with fractional reserve lending are dependent upon asset valuation growth.

Reduce growth and mo...
5/14/2014 at 8:08 PMPermalink
 John Rubino - Dollar Collapse
Deflation Shock Coming  (5)
"Moderate inflation can be a boon to consumption as it encourages consumers to buy before prices rise, but economists say falling prices encourage consumers to put off spending and companies to delay investment, both of which act as brakes on growth."

It has been my observation that consumers buy whenever they can rustle up some more credit.
Did USA consumers delay buying houses while th...
5/10/2014 at 9:08 PM  1  1  Rating :  0 Permalink
 Mish - Global Economic Analysis
End of Employer-Provided Healthcare: By 2020, SP 500 Companies May Dump 90 of Workforce into Obama  (2)
Not only logical, but financially wise.
Consider 50 employees at the low figure of $300 each per month. That's $15K a month.

Jobs are in short supply according to more than one metric.
By all appearances we are in, at a minimum, stagflation.
We see increased competition for scarce discretionary monies.
Advantage usually goes to those who implement cost reductions first and save the profi...
5/7/2014 at 8:19 AM  1  1  Rating :  0 Permalink
 James Howard Kunstler
Lying or Just Stupid  (37)
The vast majority of oxygen thieves can't grasp the simple fact that the news media's income stream is from advertising.
Now factor in the tidbit that every hour of investigative journalism takes a bite out of the net profit.
Ergo, the press release is cheap and has applicable references.
Few will comprehend that the press release came from a biased advocate.

What makes things far worse is t...
5/5/2014 at 7:18 PM  9  2  Rating :  7 1 AnswerPermalink
 John Rubino - Dollar Collapse
Karl Marx Makes a Comeback - And That's Okay  (11)
"... unexpected success of a 700-page economics text called Capital in the 21st Century by French college professor Thomas Piketty. As of April 30, it is the best-selling book in the world ..."

Who is buying this book?
Who reads a 700 page economics book?
"best-selling book in the world" Uh-huh. Sure it is. Maybe best selling economics book. However, let us assume it is the best selling book in...
5/1/2014 at 9:53 PM  2  1  Rating :  1 1 AnswerPermalink
 Michael Pento - Delta Global Advisors
Don't Look Now But The Wealth Effect Is Over  (2)
"The public sector is still greatly in need of deleveraging because Household Debt to GDP ratio is still over 80%, opposed to the 40% it was in 1971. Real disposable income is not increasing, which has left the consumer with little ability to take on more debt. There just isn't any reason to believe that consumers will suddenly ramp-up their borrowing."

Hence another reason behind the desire to raise th...
4/29/2014 at 7:12 PM  2  3  Rating :  -1 2 AnswersPermalink
 Mish - Global Economic Analysis
US Plans Sanctions on Putin's Inner Circle, Russia's Third Largest Lender, and Gazprom  (2)
It is quite interesting that the USA demonstrably fomented tension in Ukraine and now it is supposedly Russia's fault.
My evidence?
Go to "The National Endowment for Democracy" at
The home page states where the money comes from.
On right side of home page is a map. Put cursor over Eastern and Central Europe and click.
Then scroll to Ukraine and click.
Look at all the grants in 20...
4/28/2014 at 4:16 AM  2  0  Rating :  2 Permalink
 Stewart Thomson - Graceland Update
Gold, Banks, Interest Rates
"8.Charts don’t create fundamentals.Fundamentals create charts."

"9.As mentioned, fundamentals create charts, and when those fundamentals change, the picture on the charts changes quickly."

Say what?
Fundamentals are all about intrinsic values aka tangibles.
Technicals are often a charted history of market activity aka buyer/seller statistics.

Charts are based upon "technicals...
4/24/2014 at 11:30 PM  1  0  Rating :  1 Permalink
 Wolf Richter
America And Oil: This Chart Shows Why OPEC’s Knees Are Trembling  (7)
"But North America as a whole – Mexico, US, and Canada – will likely increase production enough to where imports from OPEC become essentially irrelevant over the next few years."

Assumption 1. NA production increases.
Assumption 2. OPEC no longer can influence world oil pricing.
Assumption 3. World oil demand flattens.
Assumption 4. NA production costs flatten.
Assumption 5. US governmen...
4/24/2014 at 9:30 PM  1  0  Rating :  1 Permalink
 Fabrice Drouin-Ristori -
David Morgan Interview on Silver Market, Silver Price Manipulation and the Coming Global  (12)
Re: comment posted by MartinBurger introducing "Blue Eagle Refiners Inc"
LENR Low Energy Nuclear Reactions.
Web search "Pons and Fleischmann"

4/17/2014 at 8:32 PMPermalink
 Mish - Global Economic Analysis
Ukraine Announces Full-Scale Army Operation on Pro-Russian Militants in Seized Buildings; Verge of C  (2)
Maybe the coup leaders might wanna cut down on eating all those bowls of dumb-ass made by the Obama-McCain collective and served by Victoria Nuland.

Entering the Octagon, the tag team of Obama and McCain versus the Cock of the Caucasus, Vladimir Putin.
Obama's supporters are trying to beat down Vlad's resolve with a massive left cross of rhetoric.
Although attempting to distance himsel...
4/14/2014 at 8:37 AM  2  0  Rating :  2 1 AnswerPermalink
 Andy Hoffman - Miles Franklin
The New 1
"JP Morgan, Goldman Sachs, and the rest of the “1%” benefitting directly from Fed money printing have sacrificed billions of people in the name of power and ill-begotten wealth. And thus, nothing will be sweeter – and scarier, as the world crumbles around us – than when the “new 1%,” whom hold significant amounts of physical gold and silver – become the world’s new masters. "

1. Most of those billions ...
4/12/2014 at 11:53 PM  1  0  Rating :  1 Permalink
 Tim Iacono - Iacono Research
Bridgewater Warns on Pensions  (2)
"How else are pension funds going to pull this off?"

It has already been happening for decades.
In the early 60's, my mother made $200/month as a LPN/receptionist.
That was roughly equivalent to 140 ozt of silver coin.
140 ozt at $20/ozt is about $2800/month.

Now imagine the above factoid applies to a defined benefits pension plan.
Bad boys, bad boys, what'cha gonna do? What'ch...
4/10/2014 at 10:07 PM  1  0  Rating :  1 Permalink
 Philippe Herlin - GoldBroker
How « Too Big to Fail » Thinking Trumps Competition and Increases Risk of Banking Crisis  (2)
"The IMF states that governments have a long road ahead to « protect tax payers (and I would add the savers), insure equal opportunities and promote financial stability. » Hear, hear!"

Protecting taxpayers from banking failures is easy. NO BAIL-OUTS.

Protect savers? The only proven method to protect savers is by enforcing bank failures.
The risk-reward curve must be allowed to function.
4/10/2014 at 9:39 PM  1  0  Rating :  1 Permalink
 Gordon Long - Market Analytics
The Golden Era of Low hanging Fruit  (1)
Well stated, but needs some additional elaboration. As an example:

"The 1950s/60s in the US should not be considered as "normal" -- but rather as a one-off, extraordinary anomaly."

And with it the peculiar notion that a large middle-class as normal.
Who were and what percentage of the population was the middle class in 200AD, 1000AD and 1600AD?

4/8/2014 at 8:35 PMPermalink
 George F. Smith - Barbarous Relic
Beware of packaged thinking  (3)
Good article, however you slipped up here with this general statement that is false.

"The Fed inflates over and over, and the ones connected to it get richer, over and over, while the ones least connected to it get impoverished, over and over. "

Tis been my observation that those furthest from the spigot (the 99%) electively misspend, malinvest and malappropriate their earnings by considering m...
4/8/2014 at 7:39 PM  1  0  Rating :  1 Permalink
 James West - Midas Letter
Markets are Rigged and the Media Acts Like That’s News  (1)
Well said, but let us not forget the rest of the story.

I contend that every participant in the market has stared at their computer screen more than once and wished someone would push their stock either up or down. In effect, wished someone else would manipulate the price for personal gain.

Ergo, the hypocrisy of complaints about market manipulation.

Humans, so predictable!
4/8/2014 at 4:45 AM  1  0  Rating :  1 Permalink
 Mish - Global Economic Analysis
Michael Pettis Responds; Fantasyland Thesis vs. Reality; Counter-Challenge!  (1)
I gave you a 4 only because there was a lot of good arguments presented.

Now for the nonsense presented by Mr. Pettis.
1. "This is an assumption, ..."
An argument that requires making assumptions can neither prove or disprove anything.

1a. "... , that can be proven or disproven empirically. "
Utter nonsense. How many wealthy folks are you gonna test? How can it be tested? Should we ...
4/3/2014 at 11:04 PMPermalink
 Mark O'Byrne -
Fed Stress Tests “Rattle Banks Around The World”  (2)
"A man who has been a trader for 33 years and works at a foreign-owned brokerage told the Financial Times that the tax increase represented a “good opportunity” to buy more gold as he was worried about holding too many yen-denominated assets."

“I plan to hold it for a long time until there is a good time to sell, when the yen collapses or something,” he said."

Yah, that sounds like a plan. Wait...
3/28/2014 at 6:41 PM  1  0  Rating :  1 Permalink
 James Howard Kunstler
Weak Sister  (33)
Jim C, strictly speaking you are right that the world isn't about to run out of energy.

It is already running out of cheap energy. The shale phenomenon is smoke and mirrors.
Every barrel of oil has production costs that are rapidly approaching a BOE in money.
Oil will continue to increase in price.
The law of entropy has NOT been suspended.

But if you have the assets, you will alwa...
3/24/2014 at 9:43 PM  7  4  Rating :  3 Permalink
 Ron Paul
US 'Democracy Promotion' Destroys Democracy Overseas  (12)
1. The word democracy does NOT exist in the US Constitution.
2. Article IV section 4 guarantees a Republican form of government.

Ergo any promotion of a democracy by the US is the antithesis of the Constitution.

You know, a whole bunch of the US problems can be solved by the total elimination of corporations. Turn all corporations into LLC partnerships.
Then most supposed US interests ...
3/24/2014 at 9:10 PM  1  1  Rating :  0 Permalink
 Mish - Global Economic Analysis
Was Russia's Annexation of Crimea Illegal Who Has the Right to Decide Transformation of Mainstream  (1)
Only one question must be answered. Did the Ukrainian Constitution provide for a change of government by revolution?

If yes, the US Nazis and fascists can stick their noses in. Russia can do the same, but their military had best stick to defending its bases.
If not, any and all involvement by the US is criminal and Crimea has every right to affiliate with whomever they wish.

3/24/2014 at 7:57 PM  1  1  Rating :  0 Permalink
 Jan Skoyles Real Asset Co - The Real Asset Co
The success of Singapore gold storage  (1)
I want to make sure I understand the virtue of physical gold.
Folks buy it as an enduring storage of value.

Now here is where I start to get confused.
For reasons, real and imagined, folks don't trust their government when it comes to personal ownership of gold.
Therefore many store their gold (and other as yet unnamed valuables) in overseas vaults.
Many choose vaults located in "free-tr...
3/20/2014 at 7:50 PMPermalink
 Mish - Global Economic Analysis
McCain Heads to Ukraine with Seven Other Senators; Let's Hope They All Stay; Ugly is Beautiful  (4)
This is the toilet that the USA wants to dictate who gets to play in.
3/13/2014 at 6:23 AM  1  0  Rating :  1 Permalink
 Mish - Global Economic Analysis
McCain Heads to Ukraine with Seven Other Senators; Let's Hope They All Stay; Ugly is Beautiful  (4)
"The meeting comes ahead of a planned referendum in Crimea on Sunday to secede from Ukraine and join Russia — something the U.S. has said would violate the country’s constitution. "

So I assume there was no constitutional problem with the rabble overthrowing what was the lawful government?
Did everyone forget that one of the demands the rabble had was reversion to the old constitution?
How can a...
3/13/2014 at 5:53 AM  3  0  Rating :  3 Permalink
 Ron Paul
Can We Afford Ukraine  (34)
And before the US prattles on about Crimean secession and international law, yah might wanna review just how the North American colonies broke away from England back in the late 1700's.

Then there is the further nonsense about democratic coups being good versus democratic votes for secession being bad. And for those unfamiliar with the US Constitution, the word "democracy" does NOT exist in that docume...
3/12/2014 at 4:24 AM  1  0  Rating :  1 Permalink
 Charleston Voice
Russia and China Threaten to Destroy the Almighty Dollar *video*  (3)
Best not forget that Japan holds a bunch of USTs.
If Russia starts dumping USTs, will Japan hold, sell or buy additional US paper?
The primary motivator for individuals, companies and nations is their own version of perceived "necessity".
3/9/2014 at 11:45 PM  1  0  Rating :  1 1 AnswerPermalink
 Mark O'Byrne -
Bitcoin Exchange Goes “Dark” - $350 Million Theft Claim  (3)
"Reports that hackers may have pilfered more than $375 million in Bitcoin from Mt. Gox prompted companies from San Francisco to London as well as their industry group, the Bitcoin Foundation, to assure Bitcoin users that their funds won’t disappear due to theft or mismanagement."

The only way these assurances can be made manifest is by the Bitcoin Foundation and the other exchanges making the owners of ...
2/26/2014 at 11:29 PMPermalink
 Rick Ackerman
If Anything Can Stop This Bull, It’s Obamacare  (1)
Okay, one last time.
ObamaCare is to insurance companies as TARP was to banks.

The mortgage melt-down affected all investors.
Insurance companies get the money up-front, invest and let the actuaries do their thing.
Those monies are not just for medical, but life, auto, homeowners and wait for it, ... wait for it, ... retirements aka pensions.
The investments made by the insurance compani...
2/18/2014 at 9:27 PM  4  0  Rating :  4 Permalink
 Jesse - Le Cafe Américain
David Simon: Our Rigged Political System  (3)
Campaign finance reform is a red herring.

The problem is, was and will continue to be the astounding lack of voter reform.
Voters elect people just like themselves.
They vote for bread and circuses.
They vote against wealth accumulation unless it is their own.
They vote for unearned benefits paid for by onerous taxation of the most productive sector of society.

These same voters...
2/16/2014 at 10:08 PM  5  1  Rating :  4 Permalink
 Tim Iacono - Iacono Research
“A Bug in the Bitcoin Software”  (2)
The BBC just reported that Silk Road 2 just got hacked for $2.7 million worth of bitcoins.

Don't forget that Bitstamp (Slovenia) and BTC-e (Bulgaria) just shut down to protect the bitcoin wallets entrusted to them.

I find it a bit odd that the Bitcoin Foundation originally reported the problem was just Mt Gox and their use of proprietary software.
Please stand by for Bitcoin Foundation cred...
2/14/2014 at 10:57 PM  0  3  Rating :  -3 Permalink
 Tim Iacono - Iacono Research
“A Bug in the Bitcoin Software”  (2)
"... a Mt. Gox spokesman blamed “a bug in the bitcoin software” that left transaction details vulnerable."

In simple English, it appears the supposed heavily encrypted, secure, digital currency got hacked.
No mention so far as to how long this bug existed.
Were these vulnerabilities exploited by law enforcement and/or tax authorities?
Do you really expect the cheerleaders for bitcoin to be ...
2/11/2014 at 3:22 AM  1  2  Rating :  -1 Permalink
 Alasdair Macleod - Finance and Eco.
Post-Lehman era coming to an end  (11)
I tend to dismiss the maunderings of those who suggest that HNWIs move or could move their investments with the changing economic tides.

We forget that HNWIs have their money tied up in high value goods.
The higher the value of the good, the disproportionately lower the number of prospective buyers. By disproportionate think inversely exponential.
Think about it, perhaps the HNWI owns 4.7% of a...
2/8/2014 at 9:26 PM  4  0  Rating :  4 Permalink
 Axel Merk - Merk Fund
Fed Responsible for EM Crisis  (2)
Tis the poor craftsman that blames the tools.
Credit and money are just tools.
Failure to accept responsibility is a deep character flaw that rarely changes.
So unless you are non compos mentis, you is responsible for your own financial mess.
Any whining is just indicative of even deeper character flaws.

Good article.
1/29/2014 at 11:36 PMPermalink
 Jesse - Le Cafe Américain
The Predators Feast: Ex-JPM Bankers Raise $375 Million For Mining Company Buys  (2)
Might I suggest that the denizens of "Le Cafe Americain" get a real job.
Just where do you suppose private equity funding comes from? Perhaps from the members of a bowling league? Maybe the parents and teachers of the local PTA? Maybe Benny or Marge will volunteer to be the fund raiser.

The world of finance draws the gnomes of finance. Who better to do the job? Who already has the connections to th...
1/29/2014 at 11:12 PMPermalink
 Andy Hoffman - Miles Franklin
Gold Manipulation Going Mainstream  (5)
"... they’ll know more about PM manipulation than 99.99999999% of the world’s population."

If my math skills are still somewhat functioning, that is 1:10 billion. Quite the trick when the world's population is what? 7.5 billion?

Dude, the magnitude of this mess is already bad enough that exaggerating isn't required.

Why would anyone assume that a banker wouldn't be true to his/her nat...
1/18/2014 at 2:03 AM  1  0  Rating :  1 Permalink
 Richard Mills - Ahead of the Herd
Global Warming Chickenlittleism  (11)
#1 "... before undergoing critical peer review."
No "critical" peer review exists when the only peers it was submitted to are those who already agree with the basic tenant.
Science only advances by being a skeptic. Remember that bit of nonsense with Pons and Fleishman?
Oh and the IPCC report undergoes INTERNAL review. Sort of like a thief on trial where the jury is composed of thieves.
And than...
1/12/2014 at 3:48 AM  3  1  Rating :  2 1 AnswerPermalink
 Richard Mills - Ahead of the Herd
Global Warming Chickenlittleism  (11)
Though I lack a bunch of letters after my name, I enjoy studying most all of the sciences.

I learned that several years ago research was done on gas diffusion in polar ice. Turns out that atmospheric gasses diffuse through ice quite nicely. Couple this with Graham's Law in chemistry and any spikes in atmospheric CO2 that should be frozen in ice have long ago diffused leaving far lower levels to be detec...
1/11/2014 at 11:02 PM  4  2  Rating :  2 1 AnswerPermalink
 Philippe Herlin - GoldBroker
Virtual Wealth and Real Wealth  (5)
I would argue that the vast majority of wealth at all levels is virtual, while the debts are real.
The classic example of the day is underwater mortgages. When home prices fell, any supposed equity evaporated.
Whenever the stock market declines, any virtual wealth is exposed for what it is: fairy dust and unicorn droppings.
Nothing has definitive value until the money changes hands.
Today, asset...
1/10/2014 at 8:23 PMPermalink
 Jesse - Le Cafe Américain
Ben Bernanke On Money and the Sophistry of Modern Monetary Theory  (3)
Good article except I take exception to this:
"Economics is a social science, and not a physical science."

There is no such thing as social science. The correct term is philosophy.
Science demands replicability. Science demands use of the scientific method. Science demands lots of proven hypotheses before trotting out a theory.
Whereas philosophy only requires logical well-reasoned opinion....
1/9/2014 at 12:44 AM  2  2  Rating :  0 Permalink
 Rick Ackerman
Doom, or Sunshine It Depends…  (1)
Generally speaking, debt is commensurate with income level.
A higher income tends to give the person a false sense of security. The higher income is believed to act as a cushion during times of economic malaise.
Unfortunately, asset values can rise and fall with the general economic condition while debts tend to remain fairly constant.
Asset valuation can plummet when everyone rushes for the exit. <...
1/8/2014 at 3:33 AM  1  0  Rating :  1 Permalink
 Trace Mayer - Run to Gold
The Crypto Wars With Freedom Of Speech And Freedom Of Transaction  (2)
"What is Bitcoin? The most disruptive and subversive technology ever invented."
#1 No recognizable disruption has taken place.
#2 Subversive? No overthrow has taken place nor will it occur with bitcoin.

"... limited in amount ...,"
Tis hardly limited in amount with final number at 21 million bitcoins, but with each divisible by 1,000,000. That works out to 2.1X10^13 units aka ...
1/8/2014 at 1:09 AMPermalink
 Andy Hoffman - Miles Franklin
Wide World of Horrible Headlines  (2)
"However, when this catastrophic game ends, the “rich” will be defined much differently; i.e., by how much “paper wealth” they traded for real items of value, such as PHYSICAL gold and silver."

And how little debt the newly defined "rich" carry.

Current paper assets might more than cover current debt loads, but when the reset occurs, asset valuations will plummet when everyone attempts to unloa...
1/7/2014 at 3:34 AM  1  0  Rating :  1 Permalink
 Jon Matonis - The Monetary Future
Price Discovery in the Absence of Bitcoin Exchanges  (1)
"The genie is out of the bottle and centralized banking institutions are no longer seen as necessary for the provision of an exchangeable monetary unit."
Utter nonsense. Bitcoin is just another "Pet Rock" or "Cabbage Patch Doll" fad. Only a miniscule number of people support it and they are the ones holding.

"The best solution from authorities will be to accept the changes and to modify politic...
1/5/2014 at 11:18 PM  1  0  Rating :  1 Permalink
 Eric Dubin - Investor Intelligentsia
Bombings In Russia: Context Review Of Saudi Statements This Year  (3)
Folks really need to read the Al Monitor article linked to in Mr. Dubin's article above.
It should become fairly obvious that the House of Saud is/was/will continue to be the predominant danger to the region.
And the US has a defense treaty with the House of Saud in return for oil price stability.
This occurred during and because of the Vietnam war-games. See Arab Oil Embargo.
Who ever controls ...
12/31/2013 at 8:47 PM1 AnswerPermalink
 Chris Powell - GATA
Koos Jansen: Gold is smuggled into China too  (2)
From the Jansen article:
"So maybe, just maybe, a small part of the 510 tons was exported to the mainland through tunnels ... "
From the GATA article:
"... appears to be smuggled into China ... "

Speculation is NOT evidence.
The television report inferred that the tunnel was still under construction. Perhaps nothing had been smuggled as yet.
This was sloppy and blatantly deceptive ...
12/31/2013 at 3:29 AMPermalink
 Peter McKenzie-Brown - Language Instinct
The Big Chill  (1)
One consideration that should never be forgotten is China owns a pile of US Treasuries.
What better way to extricate themselves than by recycling these USTs into resource based assets?
12/31/2013 at 2:23 AMPermalink
 Mish - Global Economic Analysis
Merry Christmas From the TSA  (2)
Most entertaining.

I solved the problem by no longer supporting the airline industry.
Bye, bye FAR part 121
I won't even participate in FAR part 135 operations.
Maybe, just maybe part 91. Uh, maybe not.

The airline industry didn't make the America we know, the automobile did.
Your children will learn more about America by automobile than they ever could by sitting in a disease...
12/25/2013 at 7:56 AM  1  0  Rating :  1 Permalink
 Alasdair Macleod - Finance and Eco.
FOMC, taper talk and the gold price  (10)
The official word on the taper is January.

Looks like another buying opportunity for PMs.
12/18/2013 at 11:22 PMPermalink
 Alasdair Macleod - Finance and Eco.
FOMC, taper talk and the gold price  (10)
Two more reasons for no taper before 2014:
Taper just before Xmas? Not bloody likely.
Taper just before the end of the tax year? Never kill profits before you collect the tax revenue.
12/17/2013 at 11:05 PM  0  1  Rating :  -1 Permalink
 Bron Suchecki - Perth Mint
No high premiums for suggested gold miner cartel  (2)
Over the decades I have heard supposedly smart people state the same arguments about direct sales when it comes to placer gold.
It is nonsense. Once in a great while some buyer of placer gold gets crazy stupid and pays a substantial premium. But that is uncommon at best.
Getting 70-75% of spot is about as good as one might expect.
Many forget that 10-25% is not gold, but silver and/or copper.
12/17/2013 at 10:42 PMPermalink
 Mish - Global Economic Analysis
French Hypocrisy at Its Finest: France Broadens Its Surveillance Power; "Susie Did It Too!"  (1)
By gawd, you heathens are gonna learn about democracy or we'll be dragging you out behind the barn. Now you go git a stout switch.
12/15/2013 at 2:03 AMPermalink
 Przemyslaw Radomski CFA - SunshineProfits
Can Gold Make Sense If the Dollar and the Euro Do Not Collapse  (1)
"In 1946, one year after the end of WWII, the debt to GDP ratio stood at 118.3%, its highest historical level so far. Obviously, the economic conditions after WWII
were quite different than the conditions we have today, but the point is that in the past the U.S. economy was able to recover from enormous debt levels. "

Don't forget that the US was the last industrial power left with an intact infras...
12/15/2013 at 1:04 AMPermalink
 Antal E. Fekete - Gold University
The Myth Of The New American Gold Standard  (8)
"However, as the new helmsman Bernanke has warned, deflation may well be the greater danger of the two. He is getting ready to load the helicopters for the dollar-drop while gearing up the printing presses for a fresh run."

At this time might I suggest you scroll back up to the article and then note the date.
Please make sure your seats and tray tables are in the upright an...
12/15/2013 at 12:39 AM  4  0  Rating :  4 Permalink
 Eric Dubin - Investor Intelligentsia
The Tiny Dot: US Federal Government, Taxation, And You  (2)
Is it any wonder that this pathetic scenario exists?

We train our younglings to be submissive to authority.
We never defined authority, but demand submissiveness and "keep your mouth shut" attentiveness.
We use peer pressure to keep others inline.
We demand paperwork and/or letters before/after a name as instant qualifiers as an authority.
We do everything within our capacity to stamp ou...
12/12/2013 at 11:51 PMPermalink
 Eric Dubin - Investor Intelligentsia
Precious Metals Mining Company Managers: Your Job Includes Defending Your Industry  (5)
Why Mr Dubin, really now.

You use argumentum ad hominem rather than dispute my comment.

I am not compensated for my comments and I no longer have the need to feed my ego.
Ergo a slight bit of anonymity has been determined to be in my best interests.

I present what I perceive to be factual or what I think should be considered.
I contend that if you can't effectively argue eith...
12/6/2013 at 11:47 PM  2  5  Rating :  -3 Permalink
 Philippe Herlin - GoldBroker
The ECB to Open Liquidity Spigots  (3)
"... credit for non-financial businesses is down 5.7% (by October 2013, year-to-year) for the italian banks and 19.3% for spanish banks! Consumer loans and mortgages are also down."

The above quote is the meat and potatoes.
Production is the only way to generate new wealth. Production is a non-financial business.
Very few producers have adequate liquidity to immediately pay for inputs. They depe...
12/5/2013 at 9:00 PMPermalink
 Eric Dubin - Investor Intelligentsia
Precious Metals Mining Company Managers: Your Job Includes Defending Your Industry  (5)
Every participant in the market attempts to manipulate the market in their own best interests.
This has been obvious since the dawn of man.

It is also obvious that the majority of folks don't and won't accept the reality of investor ineptitude.
Personal failure MUST be someone else's fault.

Having been involved in extractive industries off and on over the past 4+ decades, I can say wi...
12/5/2013 at 7:59 PM  1  6  Rating :  -5 Permalink
 Adrian Ash - Bullion Vault
China's Big Gold Buyer  (4)
"Of course, that army of aunties doesn't have the cash to purchase one ounce each at will."

So what is the typical range of products these aunties buy when they have some funds available?
0.5 gram, 1 gram, etc?
11/24/2013 at 8:27 PMPermalink
 Mish - Global Economic Analysis
Nearly Retired Facing a Huge Increase in Healthcare Costs More on "Opting Out" of Obamacare  (5)
Read the SCOTUS opinion on the PPACA for yourselves:

But I doubt many of you will take the time to read it.
193 pages of legalese is more than most US citizens can or will endure.
You will probably not even bother with Cliffsnotes if and when it becomes available.
I am betting that most of you will foster and foist off your...
11/24/2013 at 2:32 AM  2  2  Rating :  0 Permalink
 Richard J. Greene - Thunder Capital
Put 10 of your assets in gold and pray it doesn't work.  (7)
"The United States Constitution specifically states that the act of attempting to change the backing of money by precious metal is punishable by death."

And just where is this in the Constitution?
Article I section 8 paragraph 6 only states "... provide for the Punishment of ...".
And section 10 paragraph 1 states: "No State ... gold and silver Coin a Tender in Payments of Debts; ... ".
11/22/2013 at 9:42 PM  3  1  Rating :  2 Permalink
 Jan Skoyles Real Asset Co - The Real Asset Co
Is bitcoin better than gold  (7)
Fiat is fiat.
Just a bucket of hot air sans the bucket.

Would you trade your physical gold for bitcoins at par plus the standard premium usually charged for cash sales?
It is a simple yes or no question.
No introducing conditionals to the question. It is either yes or no.

And there is the answer to, "Is bitcoin better than gold?".

Maybe tulips will come back in vogue. Get ...
11/21/2013 at 6:57 PM  4  0  Rating :  4 Permalink
 Dennis Miller - Casey Reseach
Living on Two Paychecks or on Too Many Expectations  (2)
I would have given your worthy article 5 stars, but you made an egregious error in reporting who's who of unrealistic expectations.

Local governments have declared war on low cost housing enclaves.
The term is urban blight.
First, areas that have a low property tax are identified.
Next, local government demands a myriad of permits for upgrades to the dwellings.
Then permits are denied or...
11/19/2013 at 10:34 PMPermalink
 Mish - Global Economic Analysis
"Gold is an Asset the Girl Carries"  (1)
800 grams of gold is 25.7 troy ounces. Or 2.14 troy pounds. NOT 1.8 pounds as reported.
11/18/2013 at 7:35 PM  1  0  Rating :  1 Permalink
 James Howard Kunstler
Schilling Shilling  (21)
Excellent, however I have never heard the term cloacal vent applied to mammalian species.

I hope you do better than I did when I suggested the same short life span for shale oil in a comment I made about a year ago.

A buddy of mine suggested that the US and EU governments as well as the myriad of NGOs were smoking their shorts when they claimed their effort was to raise the third world up to th...
11/18/2013 at 6:45 PM  4  2  Rating :  2 Permalink
 Chris Powell - GATA
State Dept. memo describes gold suppression, but State denies having any gold records  (8)
"How did you come to gold? Decipher the great transition all by yourself, did you?"

"And why exactly are you holding PM's? I will assume you buy PM's because you expect them to go up, reset or not. "

Both quite valid questions.
I started as a rock-hound back in the 50's and by the mid-60's I began prospecting. Gold was $35/ozt back then.
I continued off and on ever since. The demands of...
11/17/2013 at 12:34 AM  2  1  Rating :  1 Permalink
 Chris Powell - GATA
State Dept. memo describes gold suppression, but State denies having any gold records  (8)
I decided to not rate you. There is no negative rating mechanism on this site.
I don't dispute the possibility of manipulation.
I, possibly among others, appreciate lower prices.
Any bird in the hand, no matter how small, beats nothing.
I contend you and GATA are offering me nothing.

I'm not a gambler aka speculator aka investor.
I am a small, read real small, saver.
You and GATA...
11/14/2013 at 7:27 AM  1  8  Rating :  -7 2 AnswersPermalink
 Jan Skoyles Real Asset Co - The Real Asset Co
The Silver Market in 2013  (12)
Just my opinion, but $20-22 is more probable through the end of the year.
Would I buy at these prices?
The more appropriate question is do I trust the valuation of the USD, EU or Pound to hold up?
I ain't selling anything. Do as you will, but you might wanna ask the same question.
Half a chicken in the pot beats the snot out of stone soup.

Next year?
I'm not a soothsayer.
Half ...
11/14/2013 at 6:37 AMPermalink
 Andy Hoffman - Miles Franklin
1976, As Relevant as the Buggy Whip  (5)
Possible by definition means inevitable otherwise it would be impossible.
The problem for the predictor is when.
The problem for the listener is CRS: Can't remember shit.
The rats followed the Piped Piper to oblivion.

I'm not selling, seeking subscriptions or anything most folks would understand.
I engage in self-defense. If I can help others defend their economic future, they probably ...
11/14/2013 at 1:11 AM  2  0  Rating :  2 Permalink
 Axel Merk - Merk Fund
Why I Sell the Dollar: From Dollar Strength to Dollar Weakness  (1)
"To those that say the U.S. has the cleanest of the dirty shirts, we would like to point out that it hasn’t helped the greenback, as evidenced by the euro outperforming the dollar both so far this year, as well as last year. Yes, we have a mess in the Eurozone that won’t be resolved anytime soon. But we also have a mess in the U.S., Japan, and many other places around the globe. Most of these problems are neithe...
11/13/2013 at 10:54 PMPermalink
 Jan Skoyles Real Asset Co - The Real Asset Co
The Who’s Who of China’s gold market  (3)
It would be interesting to know the gold product distribution by socioeconomic class.
Who is buying what?

Thanks for showing how Austrian economics has moved to China.
11/12/2013 at 9:22 PMPermalink
 Mac Slavo - ShtfPlan
Watch: Massive Fireball Roars Through Suburban Power Lines, Blows Out Electricity  (5)
From my understanding, Siemens AG is the go-to corporation for large distribution transformers.
They are manufactured to order and it can take 12-24 months depending on size.
Now imagine hundreds, perhaps thousands being ordered after a direct hit from a massive CME.

What to do?
Electric utility companies would have no option but to relocate operational transformers to central core areas.
11/12/2013 at 8:41 PM  1  0  Rating :  1 Permalink
 Jesse - Le Cafe Américain
Non-Farm Payrolls Report - Small Business Creation Boomed In October  (1)
The assumption is small business hires for non-government related purposes.
What came on line in October?
Think about small contractors needed in every state to implement this.
You reckon no additional government workers were hired?
11/10/2013 at 6:52 AM  1  1  Rating :  0 Permalink
 Mish - Global Economic Analysis
Expect Another Leap in Healthcare Costs; New Obamashock Rules: Obamacare Expanded to Cover Mental He  (8)
I gave you a one. Why? You need to stay within your sphere of knowledge.

"Making treatment more available to those with mental illness could reduce killings, including mass murders."

One of the latest Nobel Peace prize winners sits and watches Predator drone attacks on dwellings killing all inside.
Shame, shame on the inhabitants that lived there and weren't participants in US approved acti...
11/9/2013 at 4:26 AM  2  5  Rating :  -3 1 AnswerPermalink
 Hugo Salinas Price -
The Siren-song of Welfare State  (17)
Well said and the empirical evidence supports your contention.

Either we are entitled to our earnings or we are enablers of thieves.

11/9/2013 at 4:02 AM  2  1  Rating :  1 Permalink
 Mish - Global Economic Analysis
In Praise of Pronounced Unhappiness  (3)
Research the old program known as "Abundant Foods."
11/6/2013 at 3:48 AM  2  1  Rating :  1 1 AnswerPermalink
 Mac Slavo - ShtfPlan
Sinclair: “How Do We Know That Tomorrow Isn’t The Day”  (12)
Tomorrow, as the day, is more than just a possibility.
Consider ObamaCare, no budget, no cap on borrowing from the Fed, everything of importance put on hold until after the first of the year and confidence is sure to take an ugly beating in a dark alley. When the confidence bubble gets popped, you have just received the two minute warning.
Always remember, possible by definition means inevitable. Otherw...
11/3/2013 at 9:07 PM  1  1  Rating :  0 1 AnswerPermalink
 Jesse - Le Cafe Américain
The Age of Narcissism  (3)
Ooo, did we get our hands on the latest DSM?
Over the last three or four decades, I've never met a person who studied clinical psychology who wasn't trying to figure themselves out. However the study of mass psychology sheds light on the dark motivations that fueled all the horrible events of history.

I've noticed over the last decade that the Communitarians have resorted to labeling all those who...
11/3/2013 at 8:01 PM  0  1  Rating :  -1 Permalink
 Jim Willie CB - Hat Trick Letter
Huge Cracks in US Financial Fortress  (4)
"The same citizens have seen their pension plans largely depleted, long depended upon for future retirement income. "
No, no, no. Seen is past tense. Seeing is present tense, but will see is what the citizens will experience in the fullest sense. There is still full nationalization of pension plans and conversion of 401Ks to USTs coming down this highway to hell.

"The Von Mises School of sound mone...
11/2/2013 at 8:31 PM  1  0  Rating :  1 Permalink
 Dennis Miller - Casey Reseach
Kiss Your Pension Goodbye!  (1)
Ain't nothing worse than a reformed ________ (fill in the blank).

A long time ago, I was told that people don't change. They just get more so.
Warnings printed on cigarette packages have been around for decades.
Coughing spells get worse.
The people still smoke.

And the few, the very few who did change beat the rest of us to death with their sanctimonious blathering.
"I quit, s...
11/1/2013 at 5:35 AMPermalink
 Lew Rockwell
What Should Freedom Lovers Do  (14)
The general public doesn't want freedom. They don't want liberty. THEY DEMAND SECURITY. The want enablers to make life peaceful and entertaining. The people want a level playing field with everyone experiencing the same level of misery.

They hate the wealthy, but desire wealth of their own. The hate freedom of action, but demand it for self. The hate anyone who doesn't share their values. They demand go...
10/27/2013 at 9:00 PM  1  6  Rating :  -5 Permalink
 Chris Powell - GATA
CPM Group's Christian denounces whistleblower Maguire at Silver Summit  (10)
GATA trotted out Maguire who supposedly had proof.
Where's the proof?

So far, Christian seems to be the only one checking Maguire's credentials. According to you it is pathetic to ask an ex-wife.
GATA seems more concerned about other's credibility than their own.
Like that old commercial, "Where's the beef?"
And I'm brave enough to speak (well to post) the unment...
10/26/2013 at 10:41 PM  1  9  Rating :  -8 Permalink
 Michael S. Rozeff - Lew Rockwell
The Latest Excuse To Abolish Our Freedom  (5)
I note with more than a bit of displeasure that you use the term utilitarianism rather the the correct term Communitarianism.

Under Communitarianism, all people, their belongings and their mental facilities are considered community assets. Each community has a group of managers that decide the best use of these assets and proscribes the state of individual action.

Under Communitarianism, bes...
10/26/2013 at 10:22 PM  2  0  Rating :  2 Permalink
 Mish - Global Economic Analysis
NSA Monitored Calls of 35 World Leaders; Mistrust Mounts: Merkel and Hollande to Change Intelligence  (2)
Rumor has it that J. Edgar Hoover could pretty much do whatever he wanted because he had all sorts of leverage gained through intelligence gathering.

I note the conspicuous absence of indignant commentary aimed at NSA coming from our members of Congress.

"Give me a lever long enough and a fulcrum on which to place it, and I shall move the world." - Archimedes

Moving a few key politicia...
10/26/2013 at 5:27 AMPermalink
 Tim Iacono - Iacono Research
The Farmland Bubble and Missing Workers
"Missing workers are people who still want to work but who haven’t looked in the last year and ..."

Who the hell started this bullshit line?

The people look for work. They just no longer use avenues that report numbers to the government.
The unemployment office no longer gets folks registering once their UI benefits run out. Besides, if the people don't get a job after showing up at the un...
10/25/2013 at 10:37 PM  1  1  Rating :  0 Permalink
 Mish - Global Economic Analysis
Tips on Navigating Obamacare Costs on HealthCare.Gov - My Personal Experience - Obamashock!
Well, what did you think was gonna happen?
We bailed out the banks, but did nothing about the insurance companies' losses.

Insurance companies don't have a cookie jar holding all the paid premiums just sitting there waiting for a claim.
The money is invested in a plethora of financial devices.
Now consider that beaucoup pension plans are managed by either insurance companies directly or thro...
10/25/2013 at 10:07 PMPermalink
 Charleston Voice
Capital Controls Likely to be Imposed on Your Savings Accounts for Banking Fines Debt
What may have been a good article went in the dumpster because you couldn't resist reposting ... ,

"The major banks have not only made Bitcoin de facto useless within the banking system by closing accounts, ..."

Bitcoin was useless from the day of its inception. When any medium of exchange lacks widespread acceptance by the public, it lacks the quality required for utility.
Turn off either ...
10/24/2013 at 11:03 PM  1  0  Rating :  1 1 AnswerPermalink
 Mish - Global Economic Analysis
Fed Wonders "Why Are Housing Inventories Low"; More Than Meets the Fed's Eye
Oh and I suppose inventory held off the market by banks that is "marked to model" has no effect. Put em on the market and see where price discovery and inventory goes.
Then should we discount the effects of the MERS fiasco? Where have all the titles gone?
What effect could the CDO mess have on the trade? Who actually holds the existing mortgage?

It would appear that your vision is just about as ...
10/22/2013 at 10:23 PM  0  5  Rating :  -5 Permalink
 Mark O'Byrne -
U.S. National Debt Over $17 Trillion - Surges $328 Billion In A Single Day
"The real issue is how the irresponsibility of American politicians will be paid for by all of us and drastically affect all our personal finances in the coming years. This is where the real focus and debate should be."

"The Treasury Department was forced under so-called “extraordinary measures” to borrow $400 billion beginning in May, in anticipation of an agreement between Congress and Obama."
10/21/2013 at 8:53 PM  1  1  Rating :  0 Permalink
 Chris Powell - GATA
Ambrose Evans-Pritchard: Watch what China does with U.S. debt, not what it says  (1)
Did someone forget the currency swap with the EU?
10/16/2013 at 9:03 PM  1  3  Rating :  -2 Permalink
 Mac Slavo - ShtfPlan
ALERT: Government Freezes EBT Funds: Orders States to Withhold Transfers to Food Stamp Recipients
"Alex, I'll take Carnage and Mayhem for $100"

"15th of November"

"What is the end of the world as we know it?"
And who didn't see this coming?
They took away gold coinage.
They took away silver coinage.
They severed the connection to gold and left us with fiat.
They pushed for Direct Deposit on everything; Transfer payments, paychecks, Social Securi...
10/15/2013 at 10:02 PM  2  1  Rating :  1 Permalink
 Mac Slavo - ShtfPlan
Watch: They Will Clear The Shelves Within Hours: “Like a Tornado”  (2)
Homo sapiens is an animal and once stressed, asserts its animal nature commonly called uncontrolled emotional responses. Logical reasoning goes away and is replaced by fight, flight or fright freeze.

And within 8-12 hours the destruction begins.

None of the animals will realize or care that there is no capital to rebuild with. There is no magical pool of unused capital sitting around. Insuranc...
10/15/2013 at 9:29 PM  3  3  Rating :  0 Permalink
 Chris Powell - GATA
The Australian: Who's seeking to sink gold  (3)
I like a bit more creative of a gold conspiracy. Such as ...

Create more gold products to foist on the ignorant.
Then drive down the price of gold.
Accumulate some more physical to replenish the accounts.
Make gold mining uneconomical.
Reduce the miner's bank accounts to nada through attrition and time.
Create gold shortages so price escalates markedly eliminating most individuals f...
10/14/2013 at 9:40 PM  2  3  Rating :  -1 Permalink
 Jesse - Le Cafe Américain
US Senate Chaplain: Save Us From the Madness
Yah, woe is he.
Roughly $9.2K/month in retirement from the Navy
and now the poor guy is cut off from his roughly $13K/month wages from the Senate.

The Senate Chaplain's office has a budget of over $400K/year.

Gotta love the hypocrisy. "We acknowledge blah, blah, blah, ..." Bullshit!
Were it so, the members of the Senate would quit.

Just some more smoke and mirrors intended ...
10/14/2013 at 9:21 PM  0  1  Rating :  -1 Permalink
 Jon Matonis - The Monetary Future
SecondMarket's Bitcoin Offering Defines New Asset Class
Woo-hoo. First Bitcoins were a currency substitute. Now we have an ETF and talk of investment potential.

I see Silk Road busted, Bitcoins seized by FBI and those marvelous Bitcoins lost 25% because of the seizure.
Yah, this looks like a good way to squander scarce assets.

What kind of a currency substitute loses value because of a small government seizure anyway? Keep in mind that Bitcoins...
10/13/2013 at 11:07 PM  1  1  Rating :  0 Permalink
 Richard Mills - Ahead of the Herd
Rick Mills: Greenland Is the Final Frontier for Lower-Cost Mining
Don't forget Baffin and Ellesmere Islands. Not near the amount of ice cap as Greenland. And in a mining friendly country.
Greenland is a protectorate of Denmark.
10/13/2013 at 10:39 PMPermalink
 Charleston Voice
The US is losing control of the internet...oh, really  (1)
Pretty conclusive evidence that the US politicians aren't too bright.

Never give the hired help the means to spy on you and consequently the leverage to blackmail you with.

Nobody, I mean nobody is clean with the plethora of laws we now have on the books. Remember, they got Newt.
10/13/2013 at 9:19 PM  1  2  Rating :  -1 Permalink
 Mish - Global Economic Analysis
Charts from Lacy Hunt's Presentation at Casey Research October Summit  (1)
"All things considered, I fail to see how one can look at the global picture and conclude price inflation in the US is imminent."

If you say so, however I'm having trouble reconciling the above statement with the receipts and labels of my purchases.
Maybe someone snuck into my pantry and shop and repriced my stock much lower than it actually was purchased for.
Maybe I'm suffering from dementia?<...
10/10/2013 at 10:25 PMPermalink
 Tim Iacono - Iacono Research
More on the 14th Amendment  (1)
Once again the scholars speak out and they are wrong again.

They fail to grasp "..., authorized by law, ..." means exactly what it says in the XIVth Amendment.

Article I, Section 8 specifically empowers Congress as the only branch that can authorize expenditures.

Now couple this with the last few years of no budget and only continuing resolutions to fund the beast. A continuing resolut...
10/9/2013 at 8:07 PM  1  2  Rating :  -1 Permalink
 Hugo Salinas Price -
The coming new barbarism  (23)
Wow dude, do you really believe what you posted?

Pennies are predominantly zinc now, but for sake of argument, let's assume they are still copper.
453.6 grams/lb.
453.6/6.6=68.7 pennies/lb.
Copper today was $3.31/lb.
Each penny is therefore worth about 4.8 cents.

If we figure just $16.7T USD debt, then we would need just about 5 trillion pounds of copper. We might have a proble...
10/3/2013 at 5:06 AM  2  4  Rating :  -2 Permalink
 John Rubino - Dollar Collapse
Where Have All the (New) Dollars Gone  (2)
Were I a conspiracy theorist, I would suggest that shadow economies have difficulty continuing to grow with declining physical cash availability.

But retreating to Occam's Razor, it makes more sense to realize that an extreme lack of discretionary income by the general populace renders the availability of the "currency of the day" moot. Credit is not currency. Then factor in direct deposit and debit car...
10/3/2013 at 12:48 AM  0  3  Rating :  -3 Permalink
 Tim Iacono - Iacono Research