Federal Reserve Mulling New Gold Regulation; ‘May be biggest event in gold market since US dropped gold standard’
Gold continues to accelerate into its new role as global reserve currency as the BIS has proposed reclassifying it as a Tier 1 reserve asset. Meanwhile the dollar is falling into further disfavor by the day.
US authorities have recently called for comment on a rule change that may impact the gold market.
The US Treasury, Federal Reserve and the FDIC have jointly sought comment on changing some capital adequacy rules for when an institution holds gold in its own vaults or in another’s vaults. [Read more...]
Over the past year, SilverDoctors has documented several cartel raids in which the bullion banks dumped over an entire year’s global mining output in silver during paper raids.
Many have doubted the validity of these claims, as the official open interest reported by the CME the next day is often less than the reported volume of paper contracts dumped during the raid.
Andrew Maguire has released an excellent commentary dissecting the 515 ton paper ‘gold’ raid launched by the bullion banks immediately prior to the Fed’s release of the June FOMC statement. Maguire clarifies how the cartel can accomplish the raid and yet not have the occurrence appear in the CME OI report.
Andy states that of the 165,000 paper gold contracts dumped on the market: ‘Almost all these contracts were subsequently covered by the bullion bank into the days pit close thereby not showing up in the closing OI #.This is a standard MO. ‘ [Read more...]
The following is a detailed account of SD Reader AGXIIK and his initiative to take control of his 401K.
We, along with AGXIIK, have been investing a tremendous amount of time researching and mastering the process of forming a Self-Directed IRA.
Those months of research have come to completion and on July 16, 2012 SilverDoctors.com will be debuting SD IRA (Self-Directed IRA). We will release the official program details in the coming days, but until then, AGXIIK has provided an excellent first hand account of the process.
The following is an accounting of the process to develop a Self Directed Individual Retirement Account along with the reasoning behind this dramatic change in investment thinking along with the way one can own and manage an IRA or 401K.
As far back as the 1980′s a person could buy many types of assets with their retirement plans including land, buildings, tax notes, loans and other tangibles while retaining the self directed nature of the plan. In the last 15 years people bought businesses using their SD IRAs. I financed many people using this system.
The IRS has repeatedly challenged these plans and for good reason. We live in a Tax Farm called the United States of America. The governments are desperate for revenues. Anything that helps the Tax Bleeders shift the tables slightly to their advantage, removing themselves from the direct and predatory nature of the IRS, even temporarily, is a thing worth fighting for. We MUST fight to preserve our wealth and assets.
The IRS must fight to gather revenues to keep the machine going. The tax wars have been fought since 1787 and continue unabated.
The SD IRA has survived many extra legal attempts to shut it down but for now we are ascendant in our fight. This now leads to the best system I have seen to date which permits us to retain our retirement plans and create a coordinated investment plan within that ownership entity.
Here is how it works. [Read more...]
As I repeat, every week, the goal of the producer/merchant commercials is to get out of their massive short positions because they know the hand writing on the wall now and see what is coming clearly. They continue to reposition their short positions to make their fall from grace as painless as possible.
Gold COT Report 6/29/12
Commercials picked up 4,917 longs and a covered a massive -14,614 shorts to end the week with 55.08% of all open interest, an decrease of about .5% from the previous week. Commercials now stand as a group at 14,416,000 ounces net short, a huge decrease of almost 2,000,000 ounces net short from the previous week. [Read more...]
Silver COT Report 6/29/12 One for the History Books: Commercials Cover 25 Million Ounces of Naked Shorts!
SILVER COT REPORT 6/29/12
Commercials picked up 1,144 longs but covered a massive -3,799 shorts to end the week with 43.27% of all open interest, a mammoth change since last week, and now stand as a group at -60,055,000 ounces net short, almost 25,000,000 less net short ounces from the previous week.
Technically, this is one for the history books.
Very few weeks have ever seen these huge percentage point changes! [Read more...]
Was the Supreme Court’s Ruling on ObamaCare the last straw for you?
Simply looking for a way to roll your IRA into physical metals without taking the tax hit?
On 7.16.2012 SILVERDOCTORS FIGHT BACK AGAINST THE MACHINE.
LOSE THE DEPOSITORIES & COUNTER-PARTY RISK.
HOLD YOUR PHYSICAL METALS IN YOUR IRA IN YOUR OWN PERSONAL POSSESSION!!
by Jim Willie, Golden Jackass.com
-Numerous end game items can be identified, all unusual, all strange, all dangerous
-Operation Twist is nothing but pure QE with deception
-Bank recapitalization is coming, but until they talk about $10 trillion used, nothing will change-
-New Basel III rules might elevate gold to a Tier-1 level, possibly forcing widespread bank purchases
-Absent gold in big Western banks might actually hasten a string a bank failure events
-An army of 600 highly paid accountant experts are rummaging through a big dead Wall Street bank to check for life signs
-China is recasting large gold bars into 1-kg bars, in preparation for a new trade system (also to check for tungsten formally?)
-New money and new debt are both failing, in midst of massive slippage on desired effects
-Operation Twist is actually buying all the 30-year USTBonds ever issued
-Beware of a perverse USDollar backwardation, as paper is given a premium over contracts and electronic forms
-The Draghi LTRO funds turned out to be stillborn baby that further infected the European banks
-Bank runs are spreading slowly but in a recognizable manner in Italy, Spain, France, and the UK
-The Greek Govt debt default is the unavoidable inevitable event upcoming, to act like a lit fuse
-Debt is being widely contradicted as wealth, in all forms of assets
Gold will be the last asset standing, despite a wave of criminal activity within the Gold market [Read more...]
Wednesday we alerted readers to a cyber bank raid affecting at least 60 institutions across Europe and North Americathat had already siphoned $2.5 billion out of thousands of accounts.
Steve Quayle has released an urgent alert regarding the matter, stating that his inside sources have confirmed the algorithm used in the operation is highly advanced and that ‘they have never seen anything like this‘.
Quayle concludes (which as we mentioned was one of the most likely scenarios when we first broke the news) that the evidence is mounting that the operation is a FALSE FLAG banking attack as a pretext for a broad banking system shut down.
‘This is an inside job that is done by an International Banking/ Intelligence Agency conglomerate who would have the accessibility, the infrastructure and means to pull this off.‘ [Read more...]
Massive inventory volatility returned to COMEX silver vaults Thursday, as 5 inventory movements were reported, including the largest deposit in to registered vaults in weeks!
COMEX WAREHOUSE SILVER INVENTORY UPDATE 6/29/12 [Read more...]
CNBC released a hit piece on gold this morning, with gold ‘expert‘ Yoni Jacobs (the only time we have ever heard Yoni Jacobs name mentioned previously was when he was quoted on the last CNBC hit piece on gold) predicting that ‘gold is on the brink of a violent downturn‘ and ‘will fall to as low as $700 an ounce‘.
Rather ironic that CNBC releases a massive hit piece on gold, implying gold will fall another 60% in addition to the 21% it has declined over the last 10 months- on the very day that gold spikes $50 to regain $1600.
Perhaps CNBC’s massively bearish gold call is an indication that the long-awaited bottom is indeed in?
With UK P.M. David Cameron calling for the resignation of Barclays CEO Bob Diamond in the wake of Barclay’s $1/2 BILLION fine over the bank’s manipulation of LIBOR interest rates, the scandal has now widened as court documents obtained by The Daily Telegraph have also implicated Lloyds and RBS.
If Barclays, RBS, and Lloyds are manipulating LIBOR, does anyone honestly think Morgan Stanley, JP Morgan, and Goldman do not also participate in the fraud?? [Read more...]
$26 has held as the bottom for silver again- for now. Silver continued its overnight strength in the Asian session, blasting another dollar higher early in COMEX trading Friday, reaching as high as $28.05!
Silver is now up $2 or 8% from its lows near $26 yesterday afternoon. A weekly close today above $28 would be very significant.
Those holding off from buying at $26 expecting a drop to $20 or even $15 are likely kicking themselves for not accumulating professionally INTO price weakness. [Read more...]
Doc’s Deal Of The Day
It’s a Small Stacker Day!!
1oz Silver Buffalo’s
99 CENTS OVER SPOT! FOR ANY QUANTITY!!
PLUS $5.99 Shipping on ALL ORDERS!!
–ATTENTION ALL SD READERS– The last Friday of the month will be a permanent SMALL STACKER DAY. Every month you can count on discounted shipping and reduced prices to help you protect your paycheck from disintegrating in value.
Get Your Phyzz From The Doc