Boots on the Ground in Ukraine: I Needed to see This for Myself

The entire world is getting involved now.   With the downing of MH-17, it has become impossible to stay neutral… and the US in particular is doing everything it can to escalate the situation.
Just as the assassination of Archduke Franz Ferdinand 100 years ago led politicians to make a series of pitiful, short-sighted decisions that led the world into the most destructive war it had ever seen, today’s ‘leaders’ are raising the stakes towards an even more destructive kind of war.
This new kind of war is fought with bits and bonds rather than steel. But it’s one that affects almost everyone on the planet.
Change is very clearly afoot.   And it’s time to start paying very close attention to the canary in the coalmine.
Just as I was in Iraq a few weeks ago to see the ISIS mess for myself, I had to come back to Ukraine and see what’s happening with my own eyes.

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Pending Home Sales: Doom And Gloom Descend On The Housing Market

bubbleA literal avalanche of homes in higher end areas are hitting the market.  In the words of a colleague:  ” The Zillow map of Castle Pines has so many red “for sale” marks on it that it looks like a bloody war zone.”
The Pending Home Sale index for existing homes as compiled by the National Association of Realtors was released Monday.  It showed an unexpected drop of 1.1% vs. May and it was down 7.3% vs. last June.
What’s shocking about the May to June comparison is that June is supposed to be the strongest month of the year for home sales.

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Silver Prices – Megaphone Patterns

Silver Megaphone PatternsPresident Nixon closed the “gold window” in August 1971.   That decision enabled the exponential growth of debt, paper currencies, and prices.    The process is simple and clear.  Remove the gold backing from the dollar, enable the creation of nearly unlimited dollars and debt, many more dollars chase somewhat more goods, prices increase, proclaim it is “all good” and then create even more dollars and debt. 
So what about silver?
Silver prices have increased but in a disorderly manner.  Rather than focus on details, examine the big picture – 43 years of monthly price data in one chart – represented by four megaphone shaped price patterns.
My interpretation is that zone 4 – a long and aggressive move upward – is still in progress, with a  round number target for silver is $100 or more in 2016 – 2019.  

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Ron Paul: Gold Could Go To Infinity!

Dr Ron Paul, the popular Presidential candidate and America and the world’s most popular libertarian voice, told CNBC yesterday that he “still believes in gold” and that “gold could go to infinity.”
Paul informed the MSM host why the long term case for gold remains intact (while Jackie DeAngelis stated gold’s 8% performance year to date is disappointing):
“Timing is the only thing.   I remember watching gold when it was 35 dollars an ounce and we thought if it ever hit a hundred dollars, the world would come to an end.   And then a thousand dollars, so; no, it’s good as long as we continues to do this [print money] , you know, it could go to infinity because when people just leave the dollar, who knows what.” 
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Eric Sprott: “COMEX Data is Corrupted”

sprottI just think that the COMEX data is corrupted.  It’s very hard to make any sense of it all. The fact that there’s no deliveries from the dealers is incredible. You’d think there’d be some change in the inventory. I don’t care whether it’s up or down, but at least you’d think there’d be some change.”  -Eric Sprott [Read more...]

Like Dripping Silver Icicles

letter jul 27 silver candlesI don’t typically emphasize price charts in analyzing the market, however something unusual has been happening in the spot (physical) silver market.
It did not happen in the silver futures market, nor in the gold market. 

Notice the “icicles” (chartists often call them hammers or hanging men) dripping all over the place?
They occur at different times of the day, including normal market hours in New York, Europe, and Asia, and they aren’t mere artifacts of market open or close, or illiquidity. I have not noticed them with such frequency before in silver.
What are they?

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Currency Wars Intensify As Russia Buys 18.6 Tonnes Of Gold In June

Russia, Kazakhstan, Kyrgyzstan and Tajikistan Buy Gold – Bye Bye Petrodollar!
Russia continues to aggressively accumulate gold reserves.  Its gold holdings increased again in June as the crisis in the Ukraine and relations with the West deteriorated.
The Russian central bank officially increased its gold holdings by 16.8 tonnes to 1,094.8 tonnes in June, the IMF’s International Financial Statistics report showed. In ounce terms, Russia increased its gold holdings by some 500,000 ounces, to 35.197 million ounces in June from 34.656 million ounces in May.
So far in 2014, Russia has now bought substantially more than their entire annual gold production of nearly 1,500,000 ounces.
Russia was not the only central bank to diversify foreign exchange reserves, primarily held in dollars, into gold. Allies of Russia also bought gold in June. The central banks of Kazakhstan, Kyrgyzstan and Tajikistan, all Russian economic and military allies all accumulated gold in June.
Currency wars are set to intensify and the buying by the former Soviet states is another manifestation of this.

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Talk Radio’s Taboo Topics

MSMAre conservative talk radio hosts fans –  even defenders –  of  the “Politburo”-type central planning activities of The Fed?
Are they somehow not aware that  The Federal Reserve conducts trillions of dollars of business, involving countless “cronies” in America and around the world, in total secrecy?
Does this not bother them?

The Coming Silver Shortage- “All Hell Will Break Loose”

silver shortageIn this MUST WATCH video below, Crush The Street explains why a severe physical silver shortage is brewing, as the 2013 physical demand/production shortfall was an astonishing 262 million ounces
With solar panel demand estimated at 100 million ounces a year by 2015, silver recycling plunging 24%, ore grades down 95%,  and production falling off a cliff at nearly every primary silver producer in 2013, the stage is set for a dramatic and brutal physical shortage of silver. 
When the coming silver shortage finally arrives, the shorts will be squeezed so severely that all hell will break loose in both the paper and the physical markets. 

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Taper On! Fed Tapers Another $10 Billion!

Janet Yellen begins her first FOMC Press Conference as Fed Chairwoman

Janet Yellen begins her first FOMC Press Conference as Fed Chairwoman

  • Fed tapers another $10 billion/month beginning in August
  • Admitted QE down to $30 billion/month
  • We await the inevitable gold & silver futures smash…

Full FOMC statement is below:  [Read more...]

ObamaFraud: GAO Study Finds Almost All Fake Applicants are Approved for Subsidized ObamaCare

Well the hits just keep on coming.
The U.S. Government Accountability Office (GAO), recently conducted a study in which investigators attempted to use fake identities to sign up for subsidized healthcare under ObamaCare. The results are frightening.
All but one phony applicant was successful.   Moreover, the GAO more broadly notes that about 2.6 million ‘inconsistencies’ existed among applicants who had chosen a health plan.” [Read more...]

Silver Before it’s Too Late

The EndThe ongoing plight of the long term value investor continues – seemingly without end.
However, decades of exuberance and greed have colluded.  The financial establishment has created an accident waiting to happen. The mainstream has not “priced in” risk, which makes it even harder to travel the road less traveled.

And once the accident happens, it may be too late.
If silver prices were to suddenly move back toward natural price equilibrium, there would naturally (not always the best thing) be a rush to get on board. [Read more...]

An In-Depth look at a Major Cycle in Spot Silver

silver crashThe Rhythm & Price Video Update below takes an in-depth look at a major cycle in spot silver, which projects silver coasting down to a coming low in October after a short term double top: [Read more...]

How the Gold/Silver Ratio Can Greatly Increase Your Physical Holdings

Gold Silver Ration Jul 14The magic of compound interest is well known.   What is lesser known is the magic of the gold/silver ratio, not as a measure as it is mostly viewed, but as an application for increasing one’s holdings substantially, over time. 
What is so great here is that no magic is involved, rather simply utilizing the market to more than double your holdings.
So-called “Gold Bugs” are considered ardent supporters of the PM [Precious Metal]. 
Silver stackers are just as avid.   Then there are those willing to buy either or both.
The chart below is the gold/silver ratio going back 15 years, and this is a hindsight analysis brought forth to the present tense for future consideration that can greatly increase net holdings at almost no cost, those being transaction costs from a dealer.

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Three Signals For A Huge Silver Spike In 2014 (Has JPM Gone Massively Long Silver?)

While the average price of silver remains at a multi-year low, there are several indicators pointing toward a much higher price by the end of the year.
If we look at all three INDICATORS-SIGNALS together, we can see SOMETHING BIG is getting ready to occur in the precious metals market.

The first involves what appears to be evidence that JPMorgan has gone MASSIVELY LONG silver:

 

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