Eric Sprott: The US Gov’t May Be Exporting German Gold to China!

sprottLegendary precious metals expert Eric Sprott sat down with The Doc for an exclusive interview to discuss the Bundesbank’s gold repatriation request last month, and the correlation with massive physical gold buying in Asia. 

Eric pointed out that the US government exported 30% of US annual gold production to Hong Kong in December alone, and stated that as there is no excess gold available in the US, all of his analysis suggests that the US gov’t may be exporting the German, Dutch, & Austrian gold reserves held at the NY Fed to China in an attempt to kick the can and forestall the inevitable financial collapse a little longer.

Eric Sprott’s Shocking interview with The Doc is below:

 

2013 Silver Eagles IN STOCK As Low As $2.69 Over Spot at SDBullion!


The Doc asked Eric how tight the physical silver market is currently, and if he might soon be able to  achieve his goal of not being able to source the last bar of silver for an offering:  

That’s always one of my dreams!  Some of the things that those in the precious metals market might hope for:  1. Money printing- I mean who would have imagined when they got involved in 2000 that we would see money printing which began in 2008/2009?

And then we see bank runs, which are two of the most wonderful things for precious metals owners, because those are reasons you own precious metals, and then you see the physical demand coming through, these are the perfect things that we want to see.   As long as these continue we’re going to be ok.  Someday it will break, I don’t know what will break it to be honest- is it going to be a COMEX default, is it going to be an industrial users that can’t get enough silver that produces iPhones or the S3′s or something like that- I think SD had the article that one of the car maker’s was stocking silver in Switzerland – so I don’t know exactly how tight it is, I have the same anecdotal evidence you have, and the most obvious one is what you just mentioned- the US Mint is running out of blanks.

It has to be tight, we know that the COMEX bears no correlation to what’s going on in the real world, but seemingly (for now) that determines the price.   Someday, the physical demand (which it probably already has) exceeds physical supply, and it’s only a matter of breaking the backs of the short sellers on the COMEX and the LBMA who double, triple, quintuple counting of how much gold people think they own- I dont know when that’s going to happen, all I know is that if I had a choice of to buy bonds, to buy stocks, or to own precious metals, I know exactly what I’d do because over time we know we’re going to win the race.

 

The Doc also asked Eric about the Treasury Department releasing the results of their 3 year audit of the Treasury’s 34,021 gold bars held at the NY Fed- particularly with the timing of the release only a month after the Bundesbank requested the repatriation of Germany’s gold, and whether the official denial by the Treasury department of any purity issues with it’s gold stored at the NY Fed in fact confirms our worst  fears:

Well Doc, I read the so-called audit report.  It really said they audited the schedule of holdings- which I don’t even know what that means, the schedule of holdings.  What the NY Fed holds is a very small fraction of the total gold theoretically that’s owned by the US government, and in fact the gold held at the Fed might be German gold!  The Germans might be surprised to find out there’s only 350 tons in the NY Fed and it’s all supposed to be theirs! 

It was a sham, and it was another example of those who are attempting to mislead us as to what is going on, and there have been so many examples of things that are just not right and are totally misreported.

Let me give you the biggest example of that.  On Jan 17th, the Dept of Treasury released their GAAP budget deficit , and it was $6.9 TRILLION.  That’s the change in present value of true obligations in ONE YEAR plus the cash deficit- total deficit $6.9 TRILLION!  This is in a $16 trillion economy where politicians fight over $100 billion in spending cuts when the deficit is $6.9 T!  What I find most interesting about that number?  You will not see it reported ANYWHERE in the public press! 

You would think that would be something that would be deserving of some comment, but if you Google GAAP budget deficit 2012 you will not find it in any public news release, even though it was released by the Department of the Treasury.  We’re just ignoring the biggest elephant in the room here, and that’s the way they want to work it- more disinformation.

 

Sprott also discussed the massive physical gold buying in Asia:

Every time I look at the gold data, you see more and more physical buying of gold all the time.  If I annualized the latest imports into China from Hong Kong in their latest reported number, and if I annualized the latest India purchases, my goodness the shortage we would have in physical gold- I calculated 2,300 tons per year!  That shortage would be substantially higher.  And I might add that I don’t get to see data on what people who buy bars- we don’t get to see that data!

We don’t know what Russian billionaires have done.  We don’t know what the Saudi Shieks have done.  For example, when the University of Texas’ Teachers endowment bought $900 million in gold- that’s not an item where we see the transaction in the public domain, so I suspect the shortage is well above the number I calculated, because I can only add up the public data. 

As you know the gold market is only a 4,000 ton market, and we’ve seen this change of 2,300 tons per year- where is the gold coming from?  How does China import 95 net  tons of gold in a month when the mines ex-China only produce about 180?  They bought 50% of the world’s gold! Then I turn around and read that India bought 100 tons, over 50% of the world’s gold per month! 

The US gov’t has to be selling!  We saw the Treasury customs report for the month of December where the US gov’t was an exporter of $4 billion worth of gold!  (They call it non-monetary gold by the way)…which is 2.5 million ounces!  In a month!  The US only produces 8.8 million ounces in a year, where do you come up with 2.5 million ounces? 

Most of the gold produced in the US is consumed in the US!  There’s not much left over for exports. 
In the last year, the US gov’t has exported 250 tons of gold!  Where does 250 tons of gold come from? 
There’s no excess gold available other than what might have been at the central bank!   It might have been the German gold, might have been the Austrian gold, might have been the Dutch gold- all of my analysis tells me that’s whats happening! 

The Western Central banks – the guys trying to solve the problem- have been huge, non-transparent sellers of gold.

 

 

The Doc also asked Sprott how much gold China might have accumulated since it’s last official update of 1,054 tons in 2009:

I don’t think they’re going to update the statistics.   If you or I were running the financial affairs of China, we would want to be selling Treasuries and buying gold, but we don’t want people to know that we’re selling Treasuries and buying gold.  Simply because they want to buy as much gold as cheaply as they can.  To me it’s obviously a godsend for the Chinese that the price is where it is.   You mentioned they bought 900 tons of gold last year, I would venture to say that 3 years ago, they probably didn’t buy 100 tons of gold.   So you have an 800 ton buyer come into a 4,000 ton market, and the price goes down.  It’s an impossibilityThey took 25% of the market!  I always like to say what if the Chinese bought 25% more of the oil market or 25% more of the wheat market?  Wouldn’t people say there might be a problem, or how could you do that, is it even physically possible?  

The data we get from China is only from Hong Kong!  We don’t even know how much gold is going from Switzerland or Canada into Beijing- we only know what goes from Hong Kong into China, and I know that there’s lots of gold coming into China that doesn’t go through Hong Kong! 

Who knows what China’s reserves are, I don’t think we’ll find out until there’s some kind of collapse of the system or they want to make their move in terms of backing the Yuan with gold, and that could be some time soon.  I’m sure they are happy to sit there and accumulate gold at these prices, and we know that it must be coming from the Western Central banks!

 

With Sprott recently launching Palladium and Platinum trusts, The Doc asked Eric whether he still believed silver to be the investment of the decade:

I do, but I must say, that I am not a student of the platinum and palladium markets.  I don’t spend multi hours/ day looking at that.  I leave Rick Rule and other people in our office in Toronto in charge of understanding that market and I think they have a good grasp of it.

I don’t get into the minutia, but all the data we see on a macro basis- the problems in South Africa, the purchasing of platinum and palladium for investment purposes are all moving up here.  I’m actually a little stunned that the price hasn’t moved more than it has because in my mind, we have an absolute shortage of the two commodities!   There’s no telling where the price could go when somebody wants that last bar of platinum or palladium and they’re not going to get it.   I think the outlook for both metals is great, but it certainly doesn’t diminish any of my fervor towards the silver market.  As a precious metal, I think silver is more precious than platinum or palladium and will be the investment of the decade. 

 

Doc:  How do you see this all ending for the US?  Will we simply end up with 2 lost decades like the Japanese, will we actually see a hyperinflation of the US dollar, will China one day announce official gold reserves of 15,000 tons and introduce a new gold backed renminbe?   How do you see this whole financial crisis ending?

As you said at the outset, will we lose two decades?  I might argue we’ve already lost one decade! 

If you ask 70% of the population are they better off, the answer will be no, and it’s probably a lot higher than 70%.   Here in 2013 we have a 2% tax increase.  We have a possible sequestration.  You read the internal communications that leaked from WalMart that their February sales so far are a total disaster.

We’re printing all this money, and we’re spending all this money, and where do we stand today?  We stand in almost a world-wide recession after all those moves!  What more can we do to turn the economy around?  It’s just not turning around! 

Yes, I suggested that the recovery has no clothes, because you could see that it was temp earnings that was fueling the optimism early in 2012, those things all faded towards the end of the year, we ended up with a negative print in GDP.   We’re going to start this year with a negative print in GDP, and I wrote another article last year saying Weak begets weakness.

For example, if somebody lays off 5,000 employees, it’s not just those 5,000 employees that get impacted, it’s the people who are relying on those people to buy goods from them that also get impacted.
There’s only one way that weakness won’t beget weakness- you have to have outside measures come in in terms of fiscal policy or monetary policy.  In terms of fiscal policy we have no room for fiscal policy initiates anywhere.  Here we are arguing about sequestration and how much spending we’re going to cut.  There’s no fiscal stimulus.

Now let’s move on to financial stimulus.  We have 0% interest rates, and we’re buying $85 billion of our own bonds a month.  How much further can we go here?   There’s nothing left to try!  The printing of money has been a total failure other than making things look calm.  I can assure you it’s not calm, but it looks calm, and it will look calm until one day we all figure out that we’re just going down this slippery path of greater debt, greater money printing, and people will figure out that I don’t want to own these bonds because I know exactly how this thing’s going to end. 

 

Full audio and transcript of Eric Sprott’s explosive and MUST LISTEN 2-part interview with The Doc is available now!!  CLICK HERE!

 

SD Bullion

Comments

  1. “Real life happens while you’re making other plans.”      –John Lennon

  2. Needs some serious proof reading. I am not even a native English speaker but I would be wild with the red pen here.
    Always good to read/hear Sprott though. Even if he seems to miss/omit a vital part of the equasion (my hunch).
     

    • It’s “equation”, there’s some red pen for you & you only wrote 2 lines.. And enlighten us, what’s the vital missing part?

    • sow,
      xc is right, SD articles have poor grammar and make frequent spelling / word choices such as “it’s” instead of “its”, etc
      and xc admits he is not a native english speaker.
      and one other thing: YOU CAN’T HANDLE THE TRUTH!

  3. Only expert is Mr. Sinclair…

  4. I respectfully disagree, there are no experts. No swamis with a crystal ball. I have heard them all, and they all have been wrong, and they all have been right. But I guess it’s like baseball. Where else can you fail 2/3 of the time and still be a .333 hitter, which will land you in the Hall of Fame.
    Look, there is no way this is going to end good. TPTB can keep the game going until they decide it’s game over, and I can’t help but dread the fact the when it’s game over, it probably means a few billion less consumers in the world. That I believe is their ultimate goal. In the mean time, I stack, and I prepare in other ways, because it is all I can do.   

    • Dan… one not need be 100% right to be an “expert”.  All one needs is vast knowledge of a subject.  All human beings make mistakes, yet somehow we still have people who are genuine experts at various things.  Bottom line is that an expert is merely someone who is better at something than, say, 99% of the people out there and maybe 75% of the people who work in that field.  Am I being too generous here or are you being too stingy?  Having been an “expert” at one time in my life, perhaps I am too close to this to see it clearly.  Hmmm… could be.
       

  5. Sprott is also a smart business man squeezing out small PM explores and producers … That’s oke and part of life but make no mistake about it; he is doing everything just for his own big fat wallet.

    • you are at the same time being cynical and also extremely presumptuous
      who are you to think you know what is in his mind and in his heart?

  6. I believe Eric Sprott is a true PM expert — if anyone is. 10+ years of astoundingly solid PM returns before anyone knew what was what. Sure he’s biased, but when you’re talking his game and stacking–we’re all “mostly” friends I’m sure.

    Everyone keeps looking for the master stroke to fall, but the PM bus, so to speak, is simply too massive. Watching this bus turn, takes time. This master stroke that we’re all looking for could cause bankruptcy and/or war; new empires to rise and old ones to fall.I’m really not excited about this happening, but I think high silver prices will signal the end to lots of things as we know it. Careful for what you ask for; riots and civil unrest could be in a neighborhood near you.

    My money, not timing, is on the big gold lie to be exposed and for gold to simply not be tradable–because there isn’t any physical left. That will leave silver. And it’s got quite a ways to climb.
     

    • Well said!  
      I hope I never have to cash in any pm’s and can give them to my kids.  
      Over half of this country depends on the government for basic necessities/no pm’s/no savings/no assets.  
      What will happen when we collapse? Ideally leaders who love freedom and value hard work and personal responsibility will step up, but history tells us that more often tyrants step in.  The masses gravitate towards bondage, unless they have been taught freedom from an early age.

    • I agree, Max.  Sprott has been there and done that.  I take great care in criticizing anyone who has done WAY more than I ever will.  Sprott is a billionaire and I can tell you that this is not an easy task unless one inherit’s Daddy’s money and I don’t think that he did it that way.
       
      @Celia…  ”The masses gravitate towards bondage, unless they have been taught freedom from an early age.”
       
      Yes, they do and it is basic human nature at work there.  People tend to go via the easy route and while freedom is often hard, bondage is made to seem very easy… at first.  It only gets hard once the chains are in place and locked.

  7. Sprott’s makes an accurate assessment of the world situation.  Not that anyone will be able to predict the price of gold and silver in a year but the course of the world and US economies are predictable.  All GDPs show red arrows which means each country is struggling to retain their piece of the pie and that dessert is shrinking.

    • AGXIIK,
      I agree with Sprott’s assesments that “Someday” Gold and Silver “Will or May” go up. ” May” is always the keyword for any accepted “Expert” that posts articles here. “May” being the keyword appllies to both positives and negatives. There is never a “May” go down in price because! There is no true accuracy that we as stackers can depend as all is so open ended.
      The Cartel represents “Paper” of course, and Yes I believe in a small way that Banks have a hand in the sell offs, but really believe the Industrial manufacturers hold the majority of the paper Silver and Blythe Masters through JPM’s order, pulls the trigger. Sure, ohysical Silver sales are boomong, but paper sales keep rising and upheld by private investors as well in the frey that are on a “Hamster Wheel” that leads to no where. Also, there is only supposition as to how much Gold, Silver, Oil, other precious metals and various hard commodities really exist. Are we stackerson the same “Hamster Wheel” as well? I have a huge stack and hope that being retired and in my 70′s will live long enough to enjoy the “Mays”.
      It is funny to me that the explanation of the negatives is always “The Paper Market” and no other geopolictal reasoning of the Sovereigns that are claimed to be struggling so badly with mountains of money printing and Gold and Silver should be rising against all currencies disregarding the paper market. I think we all need better analysis  than what Eric Sprott and others with charts and hype state here.

  8. With all of the down movement in the metals the past couple of weeks I wanted to give 2 cents of input:

    1. The last time these constant attacks on the gold and silver markets happened was right before QE3 was announced.  They had beat silver down to about $27 and even against their best efforts it spiked upwards of $35.

    2. We are now witnessing a similar constant attack on the metals as the currency wars gain steam.  It leads me to believe there’s going to be another QE3 type of event and once again the powers which control the metal prices want to try and cap everything around $35.  Who knows the actual event being planned but everything points to that direction. Maybe it’s a stock crash where either people will pile into the metals for safety or sell off creating a big move down. This move down would allow the cartel to unload a lot of their shorts?

    3. I keep reading articles about the cartel unwinding their short positions.  This may or may not be happening because if it’s really governmental powers behind these shorts then they have all the money in the world and will continue the game until the wheels come off the system.  All the experts are stating this will happen anywhere from 2 months to 20 months.

    4. The Demo-craps are like a rabid hyena going after legal gun owners rights.  With the economy in such dire conditions one must ask the question, Why Now? 

    All of this leads me to believe something big is on the horizon. 

    • Of course its the Fed, or members of the Fed. They are doing Arbitrage gambling with the money and precious metals, without the gamble because they always know the price they will get on the one side of the bet.
       
      This reminds me of some work I did for some Bookmakers a couple of years back, an outfit call StanJames, they asked me to develop some software that would arb their punters bets using Betfair to Lay odds against the Backs they were receiving in effect producing a win win situation for them.

  9. Power Ball   Those are good dots connected.

    A couple of extra dots more to round out this theme.
    Large investors are getting out of equities.
    Countries demand the return of their gold from the US.
    Gun confiscation talk is getting really harsh and may become a reality
    With gun confiscations, the confiscation of gold and/or expropriation of private pension plans could be right behind that.  
    Freedom of speech through the internet is next.
    One important note.
      Viamat, an international precious metals transport firm, providing a means for US citizens to move their PMs offshore to bullion banks, just announced that as of May 2013 they will no longer transport precious metals from the US to offshore depositories due to ‘tax considerations’ 
    In other words, anyone wanting to move their phyzz to an offshore depository will be considered a tax cheat or something to that effect.
      This is a very serious situation and ringfences us even tighter.
    This last dot rotates right back to the first dot. Confiscate the firearms of the citizenry and everything else in on the table. Don’t think that our government is not thinking of ways to get at private precious metals. It’s happening in Europe and the US government is watching how they are pursuing these actions and with the mind to do so here in the US.

    • Good points AGXIIK.  As much as the cartel would like they cannot surgically strike gold or silver without hurting the other metals like copper, nickel, zinc and iron.   
       
      To some extent I wonder if the cartel would actually destroy production and kill the silver and gold markets for years in order to protect the paper currencies?  If insiders had this news then it could explain why rumors of German Car Manufacturers are hoarding the metal are ending up on blog sites like these? 
       

    • If the American people allow a tyrant to take their guns, there are no other liberties that will survive.  There will be no effective way of looking a tyrant in the eye and saying “NO!” to any indecent act he cares to commit ever after.

      Of equal, if not greater, concern is the fact that Obama is hand-picking ALL of the higher ranking military commanders out there, apparently with them swearing fealty to him… personally. Those who suck up get promoted. Those who would defend America, American interests, and the American people are being railroaded out of the service. Liberty will not survive if this continues.

  10. $BPGDM < 6, last time it was this low silver was $8/ oz before it spike to $20. Are we going see this again? $100 is in the picture.

  11. Here is a mad Idea for you Mr Sprott, The Fed is holding promissory notes (IOU’s in effect) stating that their gold is in private hands being made to work for their money. I have been looking at the market in the last 3 years and I am beginning to see the picture. The Precious Metals market is no longer about hold and keep and it will protect you, but is treated like a share, where people invest in the paper asset, then profit take in intervals, I think that what we are seeing when the markets sell is momentum. The only way you can make money in the precious metals markets is if you can shift a lot of it at one time, like a big fat guy in the bath when the water moves about, well the water is us, so whats the answer? You can’t eat the fat guy, hes there farting away in the bath having a whale of a time with his ducky.
     
    Why do you think they are developing a new exchange for Palladium? You seen palladium, its indistinguishable from Platinum. I saw some wedding rings the other day, stating pure palladium 950, with the new fangled hall mark. I won’t be buying any palladium soon. Makes no sense, although Japan does go mental over Platinum, maybe it will catch on, who knows.
     
     
    Whats the answer? We need to get the fat guy out the bath, but I don’t think there is a way.

  12. what 

  13. i am off to my local dealer and do a raid

  14. Thanks for that, always easier to spot some else’s typo’s. Luckily I don’t publish much big stuff. Plus I hardly ever get to use English other than for surfing.
    I suspect the missing part in Sprotts’ message is the WHY of the shorts. There is an intention, a greater plan. Not just making fiat money off the one-time price drop. The market is being cornered, but in contrast to 1980, this time with lower prices, so the amount of silver taken control could be many multifold. I fear it will not only be gold/silver, but also food commodities. We’ll see it farmers with good harvests, dying from hunger.

    • “Thanks for that, always easier to spot some else’s typo’s. Luckily I don’t publish much big stuff. Plus I hardly ever get to use English other than for surfing.”
       
      No problem, XCS.  I am sure that your English is FAR better than our ability to speak or write your native language.  :-)

  15. Why should the following be a surprise?  After all, the US .gov encouraged corporations to export America’s manufacturing base to china.  
    The US Gov’t May Be Exporting German Gold to China!”

    • We need to export the Gov’s ass to China.  Most of them seem to like that form of government so they should feel right at home as they tend gardens, wash clothes, and keep roads and parks clean.  Good honest, if menial, work would do them a WORLD of good!  ;-)
       

  16. Taking a moment to talk about “Sequestration” next week and 85 Billion in spending cuts. Watch the DOW towards the last day of this month, the correlation between The DOW selling off and commodities shall be most interesting, China buying up our Gold is not relevant as unemployment continues to rise and the jobless rate in Europe rising higher and higher with slow to NO GDP growth, which reflects same in The USA. My opinion, rather than Sprott’s telling of our Gold being shipped to China does not fit the picture of the CaCa hitting the proverbial fan in March. I look for money to really flood out of the market into commodities.

    • But, Ranger, my good fellow, the hysterics are only just beginning!  This is quite a show that is being put on over a minuscule “cut” in the US Gov budget.  Let’s see… the Fed is printing $85B A MONTH and these guys are all a-snivel over $85B in ONE YEAR?  Holy dog-s**t!  I would be totally unsurprised to find that a drop in the Dow / S&P will occur right on schedule, as orchestrated, to PROVE that we simply cannot cut ANY spending at this time.  The boat is 90% filled with water and the sharks are circling but we simply MUST NOT bail. These idiots in government need a .357 class lobotomy.
       

  17. That’s another point  If silver drops even more in price, the silver streamers like SLW don’t get their cheap silver.  Base metal miners shut down.  The byproduct of their mining is silver   It won’t get to market.  If the silver miners close down, SLW won’t want to finance new miners or continue junior miner funding due to the low price. Maybe the juniors will stop using SLW and sell the silver at whatever price they can get since $4 per oz to the royalty firms is a give away price. 

    • My exact points AGXIIK — good post.  Crash the entire market to protect the currencies!  The problem is you can’t just surgically strike silver since many large hedge funds and companies are conglomerates.  You hurt silver then you also hurt copper, zinc, steel, aluminum, etc.  Maybe you don’t hurt them as much but they would get taken down.
       
      As that happens mines are closed, scuttled, bankruptcy ensues, equipment orders cancelled, mass layoffs, panic selling, etc.  The problem with mines is you just don’t throw a switch and they come back to life.  It can take months or sometimes years to get back to a reasonable amount of production.  While unemployed people are abundant it doesn’t mean they know how to work a silver or copper mine.  So you must do a lot of retraining which creates more delays.
       
      Somewhere during this period the economy starts running out the metals like copper and silver.  Then the real excitement begins!

    • Being men of the world, we KNOW that everything being done by the US Gov and the Fed is hurting the economy and causing us not to come out of the 2008 recession, right?  The big problem with all of this crap is that the economy will eventually recover on its own and in spite of everything they have done to screw it up.  At that point, they will jump up and down, screaming that their policies have “WORKED”!  It is utter BS and they are too stupid to recognize it for what it is.  Because of this, they will repeat these exact same errors the next time things get screwed up and we will all get to go through this same BS all over again.  Consider the 1987 S&L crisis. Did we learn anything from that?  We should have.  We spent $160B of US Tax-payer money to “fix it”.  Clearly we did not, as we repeated that same process on a much larger scale in 2008.  That situation was not resolved either, so we learned nothing once again.  At this rate, the financial disaster of about 2029 should be a real doozie.  And, of course, “no one could have predicted it” will be the MSM mantra.  Like hell!  GRRR!!!
       

  18. As to the Sprott interview…
     
    “…all of his analysis suggests that the US gov’t may be exporting the German, Dutch, & Austrian gold reserves held at the NY Fed to China in an attempt to kick the can and forestall the inevitable financial collapse a little longer.”
     
    Apparently, it has not occurred to these donkeys that when the SHTF we will desperately need ALL of the gold we can get our hands on to survive as a viable nation.  Gold is simply too valuable to waste it on buying a little more time in which to do nothing and soon end up in the same lousy position as we would have without squandering our gold.  Better to bite the bullet, repudiate a good chunk of our debt, pay off what we can, and pull ourselves up by our bootstraps.  Of course, it will be a matter of national necessity that we can no longer afford to waste ANY more money on the mooch class, being the planet’s policeman, or on any idiotic projects that do not pay off more than they cost.
     
    “What the NY Fed holds is a very small fraction of the total gold theoretically that’s owned by the US government”
     
    NO!  The national gold hoard is owned by US, the citizens whose country this is.  It is not owned by the government.  They merely hold it “in trust” for us as caretakers.  Fact is, though, the amount of trust that I have in these people is just about at an all time low.  Trust is EARNED and they have not been doing that for a good long while now.
     
    “What I find most interesting about that number?  You will not see it reported ANYWHERE in the public press!”
     
    No, you won’t and the reason is, the press is now part of the Gov; a shadowy part for sure but a part nonetheless.  It is their propaganda wing and is far more interested in satisfying the Gov’s propaganda needs than in actually informing anyone of what the truth is.  It is the thirst for truth that has so many Americans turning off the blatant propaganda of the Lame Stream Media and tuning in to the Internet-based alternative media.  I really can’t remember the last time my wife and I sat down in the evening and watched ‘The Nightly News’ on TV.  There is so much BS and completely irrelevant trivia presented as “news” anymore that I don’t care if I ever see it again.  TV of this type is a brain cell killer like no other.  Watching it WILL make people stupid.  It must!  If the American people knew the entire truth of our situation, 300 million of us would march on DC with torches, pitchforks, and ropes with nooses on them.
     

  19. I just hope all the silver i bought in the past is actually rea. There has to be a shortage sometime coming down the pipe. An no new  laws that aboma an congress make are going to be agreed on by the american people when they know they have been shafted by the gov keeping pms down for so long. And wasted all that silver minners dumped because they couldnt aford to process it into bar form. An the taxes the gov lost by not leting it rise to it even true potential. What could truly be behind the moves the goverment does. Lots of ineresting theories here my minds thinks of. 1# Theres way to much silver out there an it will make to many millionares out of them if the price of silver is going to the moon an then to the sun. Or2# they know and nobody will want to pay taxses on it since you know the gov will want half of the cherry pie. Thus causing an instand blackmarket with silver an gold. They try there hardest to make it hard to get now. By slowly making the silver go to the dumps being used up an low price keeps hardly any new mines come online.3# There just killing time an when the big collapse really happens they step in an declare new world order in progress take over everything. 4#Or the last one my favorite is you cant control the world unless you control the price of gold an silver they want the world.

  20. Far as I am concerned our government has sold us out to China and it is a matter of time before China wants payment. That payment being a large part of the US.
     
    Short of a total global debt reset there is no out anymore, hang on for the ride is all we can do.

    •  
       ha!
      so what if china wants payment?
      they are weak militarily, and no US politician in their right mind is going to give away any part of the country
      china damn well knows they loaned trillions of $ to a bunch of deadbeats (US)
      but at least they got two important benefits:
      1) they built up their manufacturing base and export economy, kept people employed which tamped down social unrest, which they are terrified of
      2) their buying USD$ assets strengthened the $ and weakened the reminbi (currency war win!)

  21. Difficult to notice there are new articles when chosen article still on top of main page. I just see the very same article, think nothing new and move on to another site..

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