How exactly is it possible that China acquired 10,000 metric tons of Gold since 2011?
Gold & silver were whacked by the cartel in the access market today as Janet Yellen and the Fed announced QE will end at the end of the month.
Expect gold and silver to be under the weather for the remainder of the week.
Let’s head immediately to see the major data points for today:
As a nation, we are steamrolling toward a date with oblivion, but everyone is trying to put such a happy face on things.
what Americans plan to spend on Christmas this year is greater than the yearly GDP of the entire nation of Sweden.
Even though our spending is increasing, our incomes are not.
If our incomes were going up, all of this spending might be good news. But as the following chart from the Federal Reserve demonstrates, that is not the case…
It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way- in short, the period was so far like the present period…
Just last Friday, the Office of the Comptroller of the Currency shut down National Republic Bank of Chicago, costing the FDIC insurance fund $111 million.
And there are a number of banks in the US (including Bank of America) that didn’t fare well in the Fed’s recent stress tests.
Whether you realize it or not, you’re taking a significant risk holding US dollars in a poorly capitalized US bank, or holding euros in a poorly capitalized European bank, and these hazards should not be underestimated.
In Saudi Arabia, it appears that the “war on twitter” is now resulting in serious jail sentences.
Close to 20 million ounces have been removed from the “customer” accounts since February, held in vaults operated by banks like JP Morgan, Scotia and HSBC. Yet, at the same time, the paper silver futures open interest has soared to near all-time highs. At the beginning of January, there were approximately 132k contracts of silver open interest. As of yesterday, the amount was over 173,000 – close to an all-time high.
To put this in perspective, 173k contracts represents 865 million ounces of silver. Compare this to the 66.7 million ounces reported by the banks to be in their “registered” vault account (registered = the silver available to be delivered).
In other words, there’s 7.65x more paper silver that has been sold to investors/speculators than there is physical silver available to be delivered.
This is a Ponzi scheme that only the upper managements at Enron, JP Morgan and Madoff & Co. + the Secretary of the U.S. Treasury could appreciate.
No wonder investors holding their silver at the Comex are taking it OUT of the Comex.
It is widely expected that the Federal Reserve is going to announce the end of quantitative easing this week.
Will this represent a major turning point for the stock market?
As you will see below, since 2008 stocks have risen dramatically throughout every stage of quantitative easing.
But when the various phases of quantitative easing have ended, stocks have always responded by declining substantially.
The only thing that caused stocks to eventually start rising again was a new round of quantitative easing.
Most Americans don’t even understand what derivatives are, but when the next great financial crisis strikes we are going to be hearing a whole lot about them.
The big banks have transformed Wall Street into the biggest casino in the history of the planet, and there is no way that this is going to end well.
A great collapse is coming. It is just a matter of time.
The last two months have brought confirmation that, as we long have suspected, GATA has outlined only a small part of the surreptitious market manipulation being undertaken by central banks — that this manipulation is actually comprehensive, that it covers nearly every major market in the world.
We are in a bottom for sure. How long will it last is anybody’s guess- but silver stackers need not worry.
This is only a question of how much fiat can you raise in order to purchase hard core, hold in your hands bullion to hold for a couple of years through the greatest worldwide total economic collapse in history and the institution of a one world government and one world currency.
They simply must destroy the U.S. dollar along with all the world’s currencies otherwise the many that hold USD would retain power and that means many nations and small businesses that oppose them.
“The Powers That Be” want it all for themselves!
In this interview with Finance & Liberty’s Elijah Johnson, Fabian Calvo discusses 2 BIG WARNING SIGNS of an imminent global economic reset:
- QE to conclude this month!
- ZIRP to continue indefinitely
- Gold & silver plunging
Full FOMC statement on the end of QE is below:
The indicators which reflect the rotting core of economy are the price of oil and the 10 yr Treasury yield. The 10yr yield is falling because it’s the only “safe” place to park cash that offers some yield. Note how the yield is dropping despite the ending of QE bond buying. And oil is a function of supply and demand.
The price of oil similarly collapsed in 2008 just ahead of the financial and economic collapse that occurred that year.
A collapse that was diverted by the onset of an eventual $4 trillion in QE stimulus and taxpayer-funded Government spending.
The truth is, real inflation has infected everything households need to buy and deflation will soon hit every asset sector that has been pumped up to the sky again by Fed stimulus.
Can you solve a crisis of too much indebtedness by increasing debt and suppressing interest rates?