Loading ...We are separated by one generation (a decade more or less) and a few thousand miles but I feel together with your thoughts. I only wish I could express mine (in public forum) as well as you do. In more private environs you would recognize me as kin.
So…Bye bye Miss American Dream…
Drove my Tank to the Bank but the Tellers were gone…
Them Good old Bankers drinking whisky and wine
Singing…Everything is gonna be Fine…
..Everything is gonna be mine !
Did you read the Book of Keynes..?
Did you believe in Fiat Schemes ?
If the Bankers tell you sooooooooo !
Did you believe and trust the buck?
Then Sorry boy…your outa Luck !
The bankers went and flushed them all awaaaaaaay !
So I went down to the wall mart Store
Where I spent my dollars once before
But the Man there said the money wouldnt pay !
I cant remember if I cried
when I read how hard the Senate tried
but something touched me deep inside
the day the Dollar Died !
And the 3 men I admired most
Bernanke Hank and Bush’s Ghost
They caught the last train for the Coast
The day the Dollar Died !
Listen to the Real Song….was this fortelling ?
Californians, I’m currently on the phone with Sen. Dan Lungren occasionally calls people in Calif. randomly at once, and you can ask him questions. Anybody get tha call. Heard from one citizen that 30% of the sub prime loan defaults came from illegals giving false social security numbers among other things. Hes been talking for what seems a couple hrs. now.
Garic from Midas says, “While the mining industry is being killed by price fixing in a rising cost environment, the only Gold left in the world looks like it is in the ground. For the first time I could see a scramble to buy out future supply (miners) as above-ground physical disappears even without a rise in the POG”.
If you believe the opinion above, as I do, it makes companies like Seabridge and Virginia Mines look great - plus many other junior companies others here on Goldtent could name. My gut fear, however, is that the possible buyout of future gold supply, still in the ground, is going to be by socialistic governments as the buyer. Socialism, in the form of “nationalization” of critical resources like petroleum, uranium and precious metals still in the ground, is never very far in the background.
Would you be happy to sell your Seabridge shares to the U.S. government or the Canadian government?. I added Canadian government at the end of the last sentence as a bit of a joke because I dont think the Canadian government has a clue about the value of gold (whether gold above-ground or still in the ground) since the Canadian government dumped its gold reserves some time ago, as described so well by Ed Steer of GATA.
Best wishes to all in this upside down, screwed-up world of global PM markets. Equiz.
Investment adviser Catherine Austin Fitts will be joined by financial commentators Bill Murphy and Andy Gause to discuss the current state of the economy, bailouts, and how fraud and manipulation are at the root of our financial turmoil.
friend of mine wrote this recently about the ridiculous spread on paper pms versus the real stuff.
“In a general way, what we are witnessing is the early stages of the formation of a black market, e.g. an illegal market for gold that co-exists with the official “market” for “gold.” This is what happened and became a regular, almost a defining, feature of the USSR once it was completely sovietized. Given the great extent to which the USSA has now been sovietized, is it really too surprising the same phenomenon is now occurring here?
In the USSR, this was rampant, and happened with most everything. Take beans for example. There was a “bean” “market” that simply amounted to a State-mandated price for beans. Because the State wanted to report good prices, so that it could reflect a condition of “plenty” within its “numbers,” the mandated price was too low. Surprise, surprise, when the officially-sanctioned stores had any beans, they sold out immediately. The common, prevailing, and essentially default condition was you would go to the store and find no beans. I have read accounts from people who lived through this that describe the act of shopping in the USSR as more like a difficult and exacting form of hunting.
I strongly suspect the increasing difficulty in locating actual physical silver and gold is the result of this exact same phenomenon. For political reasons, the USSA State (plus G7, NWO, etc.) wants to report lower prices for political motivations, so they run a falsed-up Potemkin Village “market” for “gold” and “silver” that forces artificially low prices. Because the USSA is much, much more sophisticated at the black arts of subtlety-in-propaganda and the manufacture of illusion and image, rather than simply running overtly State-owned stores with overtly mandated precious metal prices, the USSA has a whole Potemkin Village “market” and an oversupply of individuals drunk on ideological kool-aid (capitalism flavored) that are all too willing to run around on cue, and bring life to these “markets” to enough of an extent to make them look real.
Russian rulers, from the USSR ones in the past through Putin today, have good reason to greatly admire and be truly awed by the USSA’s mastery of propaganda, even though they don’t like it.
So now a gold market is emerging, in the real world as a completely separate thing from the “gold” “market.” I doubt the USSA will adopt the overt and bluntly enforced State metals store with directly State-mandated prices. Doing such would be way to primitive, and it projects an entirely wrong image. What the USSA might do is outlaw precious metal transactions at prices other than official “market” prices (e.g. Comex, et al.). This could easily be sold as protection from “cruel” price-gougers, rather than as the State price-fixing it really is. Sellers at above the official price could be portrayed as “evil exploiters” feeding off of public fear (as unwarranted as fear of the USSA’s health is!), and hence sell the higher (real!) price as being actually false! Leftoid types can be enlisted for this particular job, with all the petulant-sounding moralizing, and the right violin music in the right places within the “news” puff-pieces.”
Sums up the farce perfectly IMHO.
I believe something very ugly lurks in derivatives land should the pms break away from the cartels hold. The bashing and clubbing in recent weeks against the most pm friendly developments in all of history suggests operator concerns are near panic levels. It could be the entire derivatives house of cards will fall with a serious rally in PMs due to paper promises.
Many thanks for your relentless war searching for truth and transparency.
Best
Norm…from Hys
This will blow you away. No Money?
What caused the economic crisis.
any time with government direction .. mass diversion of funds will happen ..
look to see at least 10 to 15% disapperance act.. 700 billiobob is for starts..
we have not seen the end of more.. ..
and no oversight, no penaltys , …
long train ride into the dusty caves of death
Hi Bill, Nice to have a drink with you at the silver summit. As a rebuttal to losing faith. Being a subscriber for 9+ years I have paid off a 71 unit new hotel. And paid off 220 acres of timberland. Yes I have taken two hair cuts for 60% of holdings.. But could care less. I am here to stay and protect my family. It is my God given right. You can post if you chose Thanks for everything, TKT
Today was it…I’m calling it. The last dump before launch. One last shove of the basketball underwater just to show who’s boss, and to flush skittish longs. Gotta keep em guessing. If it were easy…Gartman could do it! Adrian’s work is telling us that all the key players are loaded up on the long side. After that price action a couple weeks ago, we could suddeenly see several such days in a row. We could see $2000 quickly, by year end for instance. I’ve always said that when gold finally does its “thing”, it will take the breath away from the most jaded bulls. Remember the parabolic move in 79-80? The next parabola will make 79-80 look like a moon shot compared to our upcoming launch for Mars. Plus, the hourly gold chart just has this beautiful symmetry about it. It’s quite lovely, and has tons of potential energy signs all over it. Rocket launch tomorrow.
Regards,
P de la V
p.s. EVERYONE is expecting stocks to rally on the passage of this “bill’. I couldn’t disagree more. I think the Dow will plunge 2000 points on the news, and gold will fly fly fly…$100 for openers. Maybe get a fake move in the wrong direction immediately, then the real move follows. Dowm for stocks, up for gold and silver.IMO
Passing along an article/link tonight that may help shed more light on the strange events of the past few days and weeks. An interesting read even if only half correct.
Financial Tsunami: The End of the World as We Knew It
snip: “The unexpected rejection by the US Congress of the Bush Administration financial rescue plan, TARP on September 29 has opened up the spectre for the first time of a 1931-style domino wave of worldwide bank failures. That is already underway across the US banking spectrum with the failure, nationalization or forced liquidation in the past two weeks of Fannie Mae and Freddie Mac, of the giant Washington Mutual mortgage lender, of the nation’s fourth largest deposit bank, Wachovia. That was on top of a wave of smaller bank failures that began with IndyMac in the spring. For some it is appealing and more simple to grasp the magnitude of these titanic events in the US-centered financial world by assuming it is all part of a pre-planned grand conspiracy by the Money Masters, what in the 1920s in the USA was termed the Money Trust, to control the entire financial world.
I will be all ears. Best, MadMike
I clearly remember when I first read the forum several years ago, maybe 4 or 5, the posts were all about the approaching house, derivative, stock market calamaty that would be bound to occur if the Fed kept on the course that it was taking. At the time, I wondered if youwere all mad. The increase in the gold price was fortold, also the collapsing of the US$. (This has not happened completely, but from what I read, it has a lot further to fall.)
Everything has happened as predicted.
It was often lamented that the American people were apathetic and nothing would change until they became aware of what was going on. Well, they are aware now, and apathetic is certainly not a word that can be used to describe them.
Question: Is it known yet if this bill contains provisions that would prevent any miss handling of the funds? Will there be transparancy? A bailout is still a bailout, even if it has some sweetners to keep the masses happy. Or am I being cynical.
Bill,
I am at a point in my investment year where decisions need to be made. It has been tough. As I read the Chairman of the LBMA recognizing that the demand for Gold is greater than supply, members of GATA can have confidence that we were right. The economic conditions of the past 14 years were unsustainable. The bubble has burst and governments have responded by inflating currencies worldwide. Investment demand for Gold has surged and overwhelmed the supply.
www.commodityonline.com/news/Gold-Rush-intensifies
-even-as-commodities-crash-11965-3-1.html
“Meanwhile, Financial Times has reported that investors in gold are demanding “unprecedented” amounts of bullion bars and coins and moving them into their own vaults as fears about the health of the global financial system deepen. It quoted Jeremy Charles, London Bullion Market Association (LBMA) Chairman,as saying that the demand was unprecedented and that refineries were unable to supply the required bars. Investors in some countries were paying a premium of $25 per ounce over London spot price to secure those scarce bars.”
Yet, the price does not rise. Welcome to the Soviet Union. The only explanation for price not rising when shortages occur is price fixing. Clearly, the U.S. electronic trading and Comex are the source of this price fixing. I do not know how you can offer more proof than the Chairman of the LBMA admitting that demand is greater than supply to understand prices are fixed. We were and are right.
Unfortunately, making money is the job of a professional trader and being right is of no importance. As a trader/investor I have to weigh the probabilities of whether we will ever make money vs the attractiveness of alternative investments. I believe the upside price objectives of Gold and Silver vs the $U.S. have increased. Now that we know the price has been fixed, we can have confidence the consequences of price fixing will occur. Demand will be higher and supply will be lower until the Volcano blows. Unfortunately, trying to figure out the timing of this blast is quite difficult. It is also quite difficult to invest in a country that now believes it can change the rules and to figure out the best way to benefit from this when and if it occurs. Hopefully, the Congressional rebuff of the elite is a beginning of the loss of power of the BIlderbergers/CFR/Price Fixers.
At the same time I continue to consider alternative investments. Personally I will have nothing to do with the stock market on the short or long side until the government gets out. I am not interested in T-Bills yielding 5% below inflation and 10% below the growth rate in the supply of dollars. I have no interest in long term bonds at current interest rates and my future supply predictions. I have always felt houses are for living in and not speculating in. Most commodities will be caught between demand destruction from a falling economy and increasing worldwide currency supply. This all leads me back to Gold and Silver. Physical Gold and Silver have worked; therefore, it will remain as a cornerstone of my investments. I can see a scenario where premiums continue to rise. Futures have been tough and are the ground zero of the manipulation; I have to decide whether I want to stay in the game. I would strongly discourage anyone who does not have significant experience in dealing with margin, volatility and manipulation from entering this game. While the mining industry is being killed by price fixing in a rising cost environment, the only Gold left in the world looks like it is in the ground. For the first time I could see a scramble to buy out future supply (miners) as above ground physical disappears even without a rise in the POG. If we do get the Volcanic explosion the miners clearly will be outstanding investments. So for now I will stick with the Bundesbank and Swiss National Bank and say I will sell no Gold for the time being. I cannot wait for the policy of lying, manipulating and currency printing to end.
Hopefully, liberty and the markets will prevail.
Garic
EU fines 9 companies over wax cartel
(AP:BRUSSELS, Belgium) The European Union on Wednesday imposed one of its highest ever cartel fines on a “paraffin mafia” accused of fixing prices and markets for everyday household products like chewing gum, tires and candles.
A group of nine paraffin wax producers were ordered to pay fines totaling almost euro700 million (almost $1 billion) for forcing European consumers to pay more because paraffin was kept at artificially high prices.
European Commission Neelie Kroes said the cartel leader was Sasol Ltd. of South Africa but also included such multinationals as ExxonMobil, Repsol, Shell and Total. Paraffin wax is obtained from petroleum and is used in candles, wax paper, cosmetics and many other products….
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