Play

end badlyHarvey Organ joins the show this week for an EXPLOSIVE and MUST LISTEN Metals & Markets discussing: 

  • Massive US gold exports: NY Fed stealing sovereign nations gold- Harvey states ALL CUSTODIAL GOLD AT NY FED has now been shipped to China! 
  • GOFO Negative & silver backwardation with huge physical premiums in Shanghai- shortage looms
  • Death-blow to the dollar- Russia/China $400 B Gas deal a decade in the making is official
  • Eric Dubin explains how after years of rumors, COMEX default could come this summer!
  • Eric makes the case for a 50% upside move in silver coming in 6 months, while Harvey states that the cartel is nearly down to their last ounce of gold, & AN OVERNIGHT REVALUATION OF GOLD TO $4,000 WITH NO-BID SELLERS IS COMING IN 2014- PERHAPS AS EARLY AS JUNE!!

“The fun starts when the run on COMEX begins- $1.4 quadrillion in derivatives will burst in 2014 in a full-blown implosion! -H.O. 

The SD Metals & Markets With The Doc, Eric Dubin, & Guest Host Harvey Organ is below:

 

 570x400 SDWC Slider_3 (1)

 

Dealer’s Rules!  

(Credit:  William Bonsai7; http://wb7.hk)

Harvey isn’t pulling any punches.  He believes the powers that be are going to have a hard time continuing to keep a lid on the paper markets throughout this year.  Given continuing strong demand for physical precious metals, he believes an inability to meet demand and “default” will manifest in the physical market.  This will in turn force cash settlement on the Comex.

Of course, timing is always tricky and the cartel has certainly demonstrated resourcefulness and the ability to take evasive action.  But given that Indian gold demand will be ramping back up and the fact that exchange traded fund vaults and other sources of metal have already been raided, a repeat performance on the magnitude of the 2013 smack-down is highly unlikely, if not outright impossible.  Thus, the trading ranges gold and silver labor under will continue until such time as pressure in the physical market becomes too great.  There are a handful of scenarios the endgame can transverse, and we speak to some of these during the show.

We recorded this show Thursday evening.  While we don’t have the benefit of Friday’s trading action, odds are the week will close with the same capped trading range enforced.  But unlike a traditional slow summer period for precious metals, I continue to believe we’re going to blast to the upside at some point during the summer.

Ironically enough, even with Fed minutes released this week that hinted at a more hawkish tone on the timing of interest rate normalization (stop laughing!), the typical smash that sort of news normally would inspire went missing in action.  Sure, the cartel monkeys were unleashed once gold crossed $1,300 and silver threatened to cross $20.  But traction to the downside has once again proven very difficult for the cartel to generate.  Relative resilience in the face of a Fed minutes release week is a healthy sign.

Harvey has published commentary and analysis for many years.  If you’d like to check out his work on gold and silver, click here.

Finally, for you weekend listening pleasure, click here to pull up yet more from the Doc.  Jason Burack interviewed the Doc on the “Wall Street For Mainstreet” podcast.

Have a great weekend — Eric Dubin

 

 

D-Day- “The Longest Day” Available June 6th at SDBullion  
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10,000 Brilliant Uncirculated 1 oz Coins- in honor of the 10,000 Allied casualties suffered on D-Day
1,557 Proof 1 oz Coins- in honor of the 1,557 MIA Americans whose names are inscribed on the memorial
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Each of the individually numbered COA’s will specifically honor one of the 1,557 American Heroes MIA on D-Day, including their Rank, Name, Unit, Home State, & Decorations.

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  1. Dis Havey dude is one crazy dude…  no, better yet, he is kreezee!
     
    though, i have to admit, i have not seen the “$4,000 this summer” in a long time.  summer is coming right about next week, so if that shit ain’ happenin’ by end of August, this harvey dude should have his tongue nailed to microphone that he used to promote this kreezeeness…  

    • Here is Barclays survery on how they should replace the ”Silver Fix”

      https://www.surveymonkey.com/s/AGConsult

      Please send them your creative suggestions…
      Be sure to vote, and vote often.
      I believe this Barclays survey should be treated with the same gravitas as was the #askjpmorgan ”request for input”
      Hey Doc. How about a thread announcing this bogus ”survey”, which is sure to be as utterly useless as the CFTCs request for input for ”metals position limits”.

      I recommend Barclays replace the Silver Fix with Bart Chilton juggling ping pong balls while bouncing on a pogo stick while his new banker masters throw pickled herring at him during their lunch hour, and however many balls he can catch in his mouth, is how many dollars silver goes up that day. If his pogo stick slips on a herring, silver goes down by the same amount that day.
      If any herring get caught in his exquistely styled couffere, all trading ceases and silver goes limit up.

    • All along I thought you were required to be at least 18 years of age to post on this site, I see I was wrong, this writer can’t possibly be over 12!

    • If I had a dollar each time Harvey Organ made a disastrous market call I would have a nice pile of cash right now. My suggestion is to do the opposite of what Organ predicts will happen. Now id the time to short Gold. Mark this post :)

  2. “The fun starts when the run on COMEX begins- $1.4 quadrillion in deratives will burst in 2014 in a full-blown implosion! -H.O.”
     
    Should that kind of event actually occur, it will be anything but “fun”.

    • “Should that kind of event actually occur, it will be anything but “fun”.
       
      @Ed_B So true my friend. It is something that really is difficult to wrap ones brain around, an event with that kind of magnitude and fallout, and the sad part is so many not paying attention. Most are just trying to live life, and stay above water, and rarely do they listen to much other than “teevee” news which tells them basically what people want to hear.
       
      We certainly live in strange times, but hopefully, when the dust settles, government will go back to the people and not a group of corrupt lawyers and criminals!
       
      Thanks Ed for your thoughts, indeed nothing about what is coming down the road is pleasant OR fun.
       
      Have a peaceful memorial day weekend :)
      Jim
       
       
       
       

    • WORTH NOTING ….
      If it wasn’t blatantly obvious before, the COMEX is a FUTURES exchange, not a physical exchange…
      although the price does affect the actual commodity (Gold, Silver, Palladium and Platinum)….many new exchanges which are way more representative of World prices have come about in the past two years…
       
      Look at MCX in India…… while “our” Gold has been turned away from 1300 for more than a week now by the “mystery” seller with unlimited time and capital………..the MCX buyer have pushed the premium to near $140 US…….In Mumbai GOLD HAS NOT BEEN UNDER $1400 for more than 2 weeks !!!!
       
      This in the face of the elections, and the RBI removing import sanctions for the largest importers.  Now the SGE because of all the “trouble” that US algos selling stocks in China have caused, is surprisingly only a few dollar premium…..counter that last year where SGE vs COMEX was between $20 and $50 from the tax day massacre til end of last year…
       
      But the SGE SILVER CONTRACT is over $21……….and has been for 3 weeks….
      Less people are “trading” on the comex than in years past as open contracts keep coming down..
      now here is my issue
      some call them gold bugs, others silver bugs, other doomsdayers, I just think that having some actual metal in a time where currencies are being debased worse than ever, is worth while
       
      but here is my issue with all the talk about manipulation…….and yes we all know there is………….and the conspiracy on the COMEX…
      so you have 400,000 june futures open
      all “with the right to own one 100 oz GOLD bar”
      you get 8,000 or more futures traded in less than 1 minute each time Gold drops more than 10 dollars in 60 seconds…
      now the catch… COMEX ONLY HAS 8,100 BARS OF GOLD LEFT !!!!!!
       
      I have to imagine there are 8,000 “bugs in the world who have 130k each ?
      instead of talking about it, why not do it?
       
      And if you are really ballsy………
      look at PALLADIUM………….
      45,000 June futures open………..each with rights to a 100 ounce bar of PA
      average daily volume 5,000 lots
      PALLADIUM BARS in COMEX WAREHOUSE 1,300 !!!!!
       
      So for GOLD and PALLADIUM………2 of the futures where anyone can actually take delivery, no one is ?????
      maybe it because they want the price low so they can get as many bars as possible from venues other than the COMEX ???
       
      WITH ONLY 8,000 BARS OF GOLD AND 1,300 BARS OF PALLADIUM, I HAVE TO THINK THAT THERE ARE 8,000 GOLD BUGS AND 1,000 PALLY BUGS WHO WOULD LOVE TO SEE THE COMEX CRUMBLE?????? RIGHT ?????
       
      Unless the investors are going to take the delivery, why keep talking about it ?  if those numbers aren’t low enough to shows that the COMEX can be broken, I don’t know when it will.
       
      Too much talking about manipulation and the COMEX…….instead show it thru action…….get 8,000 gold bugs with 130k each to take 1 bar and we will see if they have it or not……….
       
      unless that happens……..the game will go on………IMO
       
      any way just some thoughts..
       
      on a closing note…….
      The commodity with the longest BEAR MARKET HISTORY is…………..SILVER !!!!!!
      from 1776 to 1971 when the USA made it part of the monetary system !!!
      pretty bad investment if you ask me over that period, as just about anything else appreicated
       
      so you would think that 200 years of pent up demand would have driven the price much higher than $19 by now right????
      maybe some day……
       
      Now another sad note for all the SILVER AMERICAN EAGLE BUYERS !!!!!!!!
      first we have been buying silver coins since the 1990′s, very heavily when Silver could not get past $5 an ounce, and luckily we were sellers at over $40…
       
      But here is my hitch with SILVER EAGLES……
      Since 1986 they have made like 300 million
      Of that…..Since 2008…….160 million of those were minted so first 22 years when it was cheap 140 million………last 6 years 160 million….
      So using Government issue price we believe than 85% of All Silver Eagle Buyers can not sell there coins for the purchase price…
      (keep in mind the US MINT has always charged a hefty premium)
       
      Oh and the modern coin market looks like a major bubble………..when I see people paying $1000 more for a coin that says hall of fame release instead of first release, and the metal content and coin are no longer important, looks like a bubble.
       
      I have more than 20 years experience in colleting silver and gold, as well as allocating capital to investments in this sector
       
      have a happy memorial day weekend,
      sincerely,
      Qsilver007

    • Hey, Jim.  No, this will be something that is so far out of the realm of common experience that it will literally cause some people to lose their minds.  Others will go through a list of thoughts and feelings, depending on a host of things, including their abilities, mental stability, location, and help from their family.  
       
      The worst of it will likely be in the big cities with tens or hundreds of thousands of people who haven’t worked either ever or for a long time and who don’t know anything but government handouts.  If this shapes up like it looks it will, ALL of the government programs will cease.  The government will go into survival mode itself, only able to fund some of the military and most of the FBI, plus perhaps a few agencies with police powers, such as BATF, BLM, DHS, and maybe a couple of others.  Anything NOT an emergency or a critical function (meaning for the protection and well-being of those in power) will not be funded.  Those who think that rioting will get them anywhere will be in for an awful surprise.  This will be the time when smart people keep a very low profile, don’t cause trouble, and don’t go looking for it because anyone who does will very likely find it… or, it will find them.  
       
      Desperate as the people will become, the government will be just as desperate to survive.  As we all know, desperation breeds violent responses from most people, often with very little provocation.  We should all be ready to defend ourselves, our families, and our property, however.  But do not be the aggressor in any of this.  Stay on the defense and be as mean and tough as you have to be… but no more than that.  Once all this shakes out, there likely will be consequences for excessively violent behavior.
       

  3. For those 100% of economists wrongly calling for higher yields on bonds in ’14 and almost as many calling for lower PM’s prices…read and ponder…and realize why the exact opposite of what logic dictates is happening…What is gold’s value in dollars if the Fed’s true balance sheet is double or triple it’s stated size??? And what if “full faith and trust” is lost???

     
    Why would 4 EU banking center nations accumulate nearly as much Treasury debt as China or far in excess of the Core EU and OPEC combined since ’07??? Treasury accumulation seems to have radically changed since ’07, particularly interesting due to the collapsing yields and significantly lower US trade deficit.
     
    ’07-’14 net Treasury purchases vs. net trade surplus…
     
    Banking EU 7-1 ratio ($700 B – $70 B)
     
    EU             1-3.5      ($117 B – $380 B)
     
    China         1-2.2     ($870 B – $2,000 B)
     
    OPEC         1-6.5      ($135 B – $700 B)
     
     
    BANKING EURO (Treasury holdings)
     
    ————- Jan ’00——-> ’07 ——> Mar ’14
     
    Ireland ———$5 B —>  $19 B  —> $113 B
     
    Belgium ——$28 B —>  $13 B  —> $381 B
     
    Switzerland  $18 B—->  $34 B  —> $176 B
     
    Luxembourg – $5 B—–> $60 B  —> $145 B
     
    TOTAL ——-$56 B—->$126 B  —> $815 B (650% increase from ’07)
     
    These nations ran a net trade surplus (almost entirely Ireland) w/ the US of approx. $10 B/yr since ’07…$70 B net surplus.
     
     
     
    CORE EURO (Treasury holdings)
     
    ——– ——–Jan ’00—> ’07 ——> Mar ’14
     
    Germany –>$54 B —> $50 B —> $67 B
     
    Italy ———>$20 B —> $14 B —> $30 B
     
    Netherland $13 B —-> $15 B —> $37 B
     
    France —->$27 B —-> $10 B —> $54 B
     
    Spain ——>$20 B —–>  $5 B —> $23 B
     
    TOTAL —>$134 B —-> $94 B —>$211 B  (225% increase from ’07)
     
    These nations ran a net trade surplus with the US from $70 B/yr in ’13 to $60 B/yr in ’07…$380 B net surplus.
     
     
     
    Compare this to China (Treasury holdings)
     
    ——–>Jan ’00 —> ’07 ——>Mar ’14
     
    China –> $60 B  —>$400 B —> $1.27 T (320% increase from ’07)
     
    China ran a trade surplus of $300 B/yr in ’13 up from $250 B/yr in ’07.  Stated otherwise…$1.95 T net surplus. 
     
     
    Or compare to “oil exporters” (Treasury holdings)
     
    ’00 —–> ’07 ——> ’14
     
    $45 B —> $112 B —> $247 B  (220% increase from ’07)
     
    OPEC ran a $100 B/yr trade surplus w/ the US…net $700 B surplus.
     
     
     
    or cast the net of interesting Treasury accumulation a little wider…
     
     
     
    GLOBAL BANKING CENTERS (treasury holdings)
     
    – Jan ’00—> ’07 ——> Mar ’14
     
    “Carribean banking centers”
     
    —————$35 B —> $68 B -—> $312 B
     
    UK — ——-$50 B —> $100 B —> $176 B
     
    Switzerland $18 B —> $34 B —-> $176 B
     
    HK ———– $39 B —>  $52 B —> $156 B
     
    Singapore —$30 B —> $30 B —–> $91 B
     
    Ireland ———$5 B -—> $19 B —> $113 B
     
    Belgium ——$28 B ––> $13 B —> $381 B
     
    Luxemburg —-$5 B ––> $60 B —> $145 B
     
    TOTAL —–  $210 B –> $376 B —> $1,550 T (410% increase from ’07)
     
     
     
    Nearly a $1.2 T increase in US Treasury debt ownership among these nations w/ minimal trade surplus… Or stated otherwise, the Fed / “Foreigners” now own $8 T of the $10 T public note/bond market…this means the float of domestically held notes/bonds rolling over plus lower new issuance is well less than Fed’s $25 B QE plus continued “foreign” demand…otherwise known as a short squeeze on the largest debt market in the world pushing yields lower an lower. 
     
    fyi – All raw data from TIC and Census…

    • Adieu USD; Gold Freed, at last
       
      Our greatest economic minds agonize over which currency will price the watershed, announcement of global power-shift Russo-Sinai energy deals. It’s a really tough one, and our greatest minds must be exercised to come up with some answers. Alternatively, sit back and enjoy the view…

  4.  
    Harvey. come on man. This is all conjecture on your part.
    A COMEX  default in the gold or silver market is far from being even slightly possible.
    For one thing, even at the height of the market when a record high in open interest
    occurred, very little of COMEX warehouse stock was actually delivered. 
    In fact there has been no real increase in deliveries made over the past 10 years.
    If you knew how the futures market worked and what traders dominate both the silver
    and gold markets, you would know that these traders are never going to take delivery.
    It amazes me how little the Commentators on this website know about the futures markets.
    It is quite reckless to make these kind of assertions without a single shred of evidence to back them up.
     
     
     
     
     
     
     
     
     
     
     
     

    • +1
       
      Harveys site has gone to little more than spam populating the comments due to factual errors made day after day and no effort to correct… so give him an audience here.  Makes sense and seemed to work well.

    • I never acquired a taste for HO due to his inability to understand how the metals ETFs actually work.  I figure that if he can’t (or won’t) understand something as simple as that, what hope does he have of understanding the REALLY complex issues?
       
      But, I can read Celente, Holter, and Hoffman all day, everyday!  :-)
       

  5. I can only say this you can’t hold the price of anything down when real price is far greater.  And where is all the Gold coming from that China is Buying ? 4 tons a day ?? Can someone please pull the gold rabbit out of the hat I can only think they are selling our Gold for peanuts . I just keep stacking.  
     

  6. “The change, it had to come, we knew it all alongWe were liberated from the fold, that’s allAnd the world looks just the same, and history ain’t changed’Cause the banners, they are flown in the next war.”

  7. Iran has executed the number-one convict in the biggest embezzlement case in the country’s banking history.

    According to Tehran’s Public Prosecutor’s Office, Mahafarid Amir-Khosravi was hanged at Evin detention center Saturday dawn.
    In July 2012, a Tehran court handed down a death sentence to Amir-Khosravi and three others, including Behdad Behzadi, his legal advisor, Iraj Shoja, his financial solicitor and Saeed Kiani Rezazadeh, the head of the Ahvaz branch of Saderat Bank. The first court session in the case was held on February 18.
    Former CEO of Iran’s Melli Bank Mohammad Reza Khavari, who is one of the main suspects in the case, is on the run and wanted by the Interpol.
    The president of Melli Bank’s branch in Kish received a sentence of life imprisonment and Khodamorad Ahmadi, a former official involved in the embezzlement cast, was sentenced to 10 years in prison.
    Other defendants were handed down sentences varying from flogging to paying cash fines and being barred from public office.
    The defendants stood trial for misappropriating a total of USD 2.6 billion of funds by using forged documents to obtain credit from banks to purchase state-owned companies.
    According to the indictment, the owners of Aria Investment Development Company, which is at the center of the controversy, had bribed bank managers to get loans and letters of credit. The company has more than 35 offshoots active in diverse business activities.
    Not a backward Country lol!

    • Was trying to figure out which of these headlines was BEARISH GOLD last week?
       
      RBI allows immediate importing of GOLD by some of largest players ! (they are still $140 over COMEX!)?
       
      Although “our” Gold in the states cant get above $1,300 ….GOLD on the MCX in Mumbai hasn’t been BELOW $1,400 in almost three weeks?
       
      Silver on SGE (Shanghai) above $21 for 3 weeks in a row now, while COMEX Silver cant get above $20 in more than 5 weeks?
       
      ECB promises to debase EURO by either making negative depo rates or doing QE?
       
      BOJ, promises to try another round of stimulus similar in size to the past year (just printing another QUADRILLION YEN)?
      Terrorist attack in China?
      Slowing Home Sales in the US?
      Huge junp in Jobless Claims in the States?
      Russia and India still in “conflict”?
       
      A COUP in Thailand?
      North Korea Firing at South Korean Boats………..(again)?
      Russia firing Intercontinental Ballistic missle ?
      Palladium heading to 4 year highs ?
      more of the same talk by Mrs Yellen  how ZIRP rates and QE will take longer than expected due to “slow” economy?  Wait they cut emergency UN EMP from 100 weeks to 25 weeks at beginning of year for people who needed the money, yet with SP500 at all time high, equities still need ZIRP and QE ??
      Mexico slashes growth estimates and sees only 2% handle growth ?
      Horrid China PMI?
      Eurozone Consumer confidence at MINUS 7 !!!! (sadly that was “above” expectations)
       
      Platinum was almost to $1500 as newbies pile into futures, not realizing that if you are in the COMEX market it is a lot harder getting out than getting in!
      Russia and China signed energy deal that is worth HALF OF ONE TRILLION us dollars, that will be denominated in RUBLES and YUAN?
       
      Last but not lest BARCLAYS being FINED for MANIPULATION in GOLD MARKET !!! Believe it or not, this is the first time there has ever been a fine or admission of wrong doing in regards to manipulation in PM’s.
       
      Seems like the media is giving no press to any of these stories, but rather coming up with the same stupid BS excuses on why Silver and Gold are down.
       
      Should note GOLD up $90 this year while SILVER is down 10 cents
       
      And despite fed funds being 10 BPS for 6 years in a row (and this is the rates that affects all traders directly) and 30 year treasury rates at a one year low?? also should note despite the EUOR being down 3 cents in a few weeks, Gold and Silver haven’t moved.

      Or maybe its the fact that COMEX has more than 400,000 futures open in just the JUNE cycle, and those do become “deliverable” at the end of this week, yet there are only 8,000 gold bars left…

      If there are real “gold bugs” out there one has to ask why a measly 8000 people don’t each try taking delivery of 1 bar each? not unfathomable, despite fact that very few actually take delivery in the states
       
      The correlation between Euro and Gold is at 4 year lows ……… please don’t believe the BS about weak dollar strong Gold
      and please don’t believe the stuff about interest rates
      both long and short rates were at year lows and Dollar at year lows just a few weeks ago, and silver was within a percent or two of multi year lows…
      Despite MSM attempts to tell you that a weak dollar or low rates are bullish GOLD, sadly the power that is in the Gold market doesn’t even allow those things to push Gold and Silver up
       
      Should mention that SILVER had the longest BEAR MARKET of any commodity…….
      196 years from 1776-1971 …….that made it the single worst invest overt those two millenniums !! Would have thought that demand coming out of that would have taken it parabolic, yet almost 50 years later Silver is only $19
       
      We can all agree that if one bought Equities or real Estate and held for 196 years prices would have been up 1000′s of percentage points!!!
       
      So don’t believe the Silver as an inflation hedge either that clearly doesnt work
      adding insult to injury………if one uses the US MINT issue price almost 84% on AMERICAN SILVER EAGLE INVESTORS would have to sell for a LOSS to there “position.”  An astonishing number since the program has been around 28 years, and minted more than 300 million one ounce coins……..yet more than 160 million of those were issued in 2008 to present day….
      While we love owning Silver a decade ago between $5 and $10 an ounce, with the new central bank system, and the Gold Silver ratio being bear 67:1, I feel that ownership in the $19 area will be highly favorable…
      I don’t think its going way up, but maybe a solid 25% gain by year end…say to $23,58 ….
      Oh and the modern coin bubble is in full affect……….I see people chasing modern bullion coins, paying higher premiums even as the metal price decreases…. Not sure why someone would be paying $50 or $100 for a one ounce silver coins…
       
      Have a great memorial day weekend,
      Sincerely,
      Qsilver007

      In response to Pat………first, I have loved silver coins since I was a kid………many thousands in safe deposit boxes…. so I guess by nature I am a silver permabull….the difference is unlike the many that started collecting in 2011 and put there life savings in gold at 1900 and silver at 49 and cry conspiracy, I actually accumulated in the late 1990′s and early 2000′s when $5 was the price………remember going up to Canada multiple times a year, (back then id get 1.4 CAD for $1 US) so it was even cheaper than I had imagined…… so maybe you misunderstood me as a silver bear………..it could not be farther from the truth…

      all I was saying was if you go back in time, I think you could probably go back to about the late 1700′s and the French, Spanish and English Empires, and there large coin was the same silver content as the US dollar would be…..They also had exchange rate for Gold at 14:1 and 15:1 and 16:1 on various years, so pre trading, there was an arb to be had……….I focus on 1776 since that was the start of the USA and then 1971 as that was when we were taken off the Gold Standard….

      so in 1776 a one dollar silver coin would have bought you a lot more than it did in 1971…….you have to agree with that right? obviously this is because the USA said that silver was worth $1.29 and ounce…..

      also look back at the 1930′s when president Roosevelt made American citizens turn in there Gold………..and just days later when the US GOV had it, he revalued Gold and made it worth 35 ounces of Silver instead of 15…………so either way you look at that………Gold more than doubled in value………….or for the silver owners, Silver lost half of its value priced in dollars or gold as you needed 35 ounces not 15 to get n ounce of Gold…

      Now look at 1964-195……this is when my Grandfather knew something was wrong……….We were still on the Gold and Silver standard, but the coinage act of 1965 removed silver content from halves, quarters and dimes…. that is when he literally when to the bank and ask tocash everything out for coinage………my mom tells me when she was a kid in there she was so embarrassed and no one understood why on earth someone would want all change…

      funny thing is, Silver price actually went down by a few percentage points after the US removed it from coinage, this due to “the treasury having so much, that anyone hoarding it is wasting there time, as they will keep it in line”…. so people actually thought demand would go down because the US mint wouldn’t need it……….how many people would like to go back in time and just go to the bank and get your $1.29 silver….

      so 6 years before Bretton woods, no silver was in coins and the price didn’t go up ???? “strange”

      then just as the treasury and president said hoarding old coins would be futile and a waste of time……..the US GOV “miraculously” found millions of uncirculated carson City Morgan Silver dollars…later known as the GSA hoard…… these were sold via a dutch auction for roughly $30 to $50 a coin………. but it was only a few years before that the President said that old silver coins would be worthless….

      go back tot ht opium wars in China…..Britain tried to get all of China addicted to Opium, had them pay in Silver, then would try and devalue it as they were taking payment, and then as soon as they got the Chinese silver, they would value it back up…

      So you see the government suppression of Silver is really old news……..I guess when it went from $1.29 to $50 in the 1970′s that was the pnt up demand, and one would have thought that it would be much higher by now…

      just some more thoughts
       
       
       
       

    • qsilver007 … “Should mention that SILVER had the longest BEAR MARKET of any commodity……. 196 years from 1776-1971 …….that made it the single worst invest overt those two millenniums !! Would have thought that demand coming out of that would have taken it parabolic, yet almost 50 years later Silver is only $19″
       
      The ‘longest bear market’ as defined by banker ‘fixing’ of it’s bid for a majority of that period.

      The ‘picture’ appears radically different when the purchase power of their banknotes is put into juxtaposition … which makes a ‘standard’ dollar coin worth 50 banknotes at this moment. Next ‘station on this rail line’ is 19 trillion, or 1%, making the ‘standard’ dollar worth 100 banknotes. A simple ‘picture’ to envision, which can’t be occluded or distorted by ‘econometrics’.
       

    • It should be mentioned that the so called “bear silver market” that you speak of, was not because of the price of silver being devalued, but by the findings of new silver in the “new world”. You could quite literally get more silver for your money. Within this time period, silver did not behave as a commodity as it was currency. Britain put the world on the Gold standard, silver became abundant. There was a good reason for gold/silver ratio going from 16/1 to 60/1. its the quantity of silver mined.
       
      If silver was valueless in this period of time, why oh why did most of the world currency turn from no less than 72.%% no more than 92.5% silver content in coinage, to nothing. Its called debasement. Debasement in currency is just another name for inflation. During this time of debasement, silver moved from being currency, to transforming into a currency, finally enacted by the Nixon shock of 1971.

  8. Bankers never lose, they only change sides.   London gold fix may shut down as stated, but odds are they set up operations out of say, Hong Kong?  So the London gold fix becomes the Hong Kong gold fix, and the derivatives roll over into a new price setting scheme.    This doesn’t stop until the bankers are taken down, jailed, or executed for the murderers they are.

    • “This doesn’t stop until the bankers are taken down, jailed, or executed for the murderers they are.”
       
      Then they had best watch their step in HK.  The Chinese are known to do just that.

    • you kilt wearing Scottish rascal.  Gold just falling from your fingers.
       Yes, I am jealous, but I just sent 3 100 NTR bars to Doc as a trade for the DDay BU shiners.
      Lucky you to get into the Steamboat Willie coin.  I bet the rest went quickly.
      Cheers to you on Memorial Day.  We also remember the reason for this day
      EdB and his lovely wife just left to go back home.  We spend a bit of time  reminiscing about things said on this channel, our fathers who served in WWII and the state of the world today.  Yes, the need to stay positive and live our lives in appreciation of what we have and the sacrifice of those who can before us, that is an important theme this weekend
      Cheers Charlie   Great finds.

    • Monday my family is gathering at Fort Ridgely State Park/National cemetery where my uncle that was killed in Korea is buried. 5 nieces and nephews who are military have never been to the grave site and they are all  home at once this weekend. Clean up the grave site with help this time around(I am closest so elected caretaker) and plant a couple flags. Then go over to the park for a cook out and chance to goof around outside.

    • @AGXIIK
       
      “EdB and his lovely wife just left to go back home.  We spend a bit of time  reminiscing about things said on this channel, our fathers who served in WWII and the state of the world today.”
       
      The pleasure was ours, Brother.  We greatly enjoyed the time we spent together and the discussions were absolutely priceless.  That was topped off by a great lunch.  I’ve NEVER tasted better calamari… ever.  That alone was more than worth the drive!  With all the rest added in, it was the best part of our trip.  :-)
       

    • @undeRGRound
       
      ““Best Calamari ever” eh???”
       
      Yep… and oddly enough, it tasted just like squid… and not a bit like “pork”.  Gotta watch those urban legends, my friend.  No telling what kind of BS, or in this case PS, is being slung, especially by the huffing and puffing press.
       
      Having worked in an industry that is heavily regulated by the states and the Feds, I can tell you that they would not find using a fillet de pig’s butt as a food item one bit humorous.  And anyone who can find a trace of humor in a bureaucrat is a better detective than I am, for sure.  ;-)
       
      But… speaking of food items… eaten any mushrooms lately?  lol
       

    • @Ed_B
      That prolly did start as an urban legend, but NPR actually did “test the theory” 
      and 3 of their 5 testers liked the BUNG Better! 1 did not, and 1 could not differentiate… 
      I heard it on the radio myself, or I would not have believed it! 
       
      Yes, I’ve had mushrooms lately. Composted Manure is their “soil” :D

    • @UndeRGRound
       
      “I heard it on the radio myself, or I would not have believed it! “
       
      Well, that settles it, then.  If it was on the radio, it MUST be true!  ;-)
       
      “Yes, I’ve had mushrooms lately. Composted Manure is their “soil” “
       
      Yep, tasty little buggers, especially when sliced, fried in butter, and placed atop a nicely cooked T-bone or rib steak.  ;-)
       

    • unfortunately in the states since we price silver, gold, oil, grain, stocks, bonds, real estate in dollars and in the EU they price in EUROS…how else would you quantify the value of something?
      I don’t understand how looking at something value in bank notes in a deception?
       
      that said id you start collecting silver at $5 announce or $50 an ounce ?
      if it was the latter are you simply mad at you timing?
      if you truly believe that banknotes are a deception, you should care…but I don’t think you meant that….
       
      also question for #JonL………how are YOU coming up with the cost of SILVER being $24 to get out of the ground ?
       
      I know multiple people who are in management in metals mining companies……….and the smaller they are the more expensive it is…..the large companies can pull it out significantly cheaper……also the lions share of silver mined is done as a bi product of Gold, Copper and Iron ore………there are only  a few companies  that purely do Silver mining…..
      ive read the rocco report before but some of the stories and numbers are “embellished to say the least”
       
      for the big dogs the all in production cost is closer to $13 for the micro miners doing exclusively silver closer to $19 ….
      hard to fathom that any company would keep operating at a loss for extended periods of time ?
      if they think silver is so valuable and so hard to get, why would they just cut production like the PL strikers in ZA and have price rise that way…
       
      guys I love silver too, but just making a point that because a permanent bullish website says something is true about gold or silver, it may not necessarily be
       
      sincerely,
      qsilver007
       

    • qsilver007 … “we price … in dollars and in the EU they price in EUROS”
       
      ‘Dollars’, ‘euros’, ‘pesos’, ‘rubles’, ‘yen’, et cetera, are simply illusory masks for the monolithic scheme of banknote media (pure universal credit in trade).

      There’s only one way distribution of credit can be induced, which is by compensation to creditors for the time-value of its extension (aka: Interest).

      All banknotes worldwide are loaned as principal at interest. Therefore, the only way to bring banknotes into existence for the interest side of the equation is through further borrowing (of still more principal at interest).

      A little comprehension of that scheme reveals that it proceeds on an exponential growth rate in a ‘Positive Feedback Loop’, where each side compels the other in incremental degrees of magnitude. The co-generation of each side’s expansion makes currency inflation and debt, infinitely automatic.

      At length the cumulative service of indebtedness (compounded by currency depreciation), exceeds investment capacity to produce trade goods (true wealth), then to impair production of local consumption because a ‘Debt Saturation’ ensues. That phenomenon continues toward ‘Terminal Debt Saturation’, where so little Interest Service Funding is created through new borrowing that the banknote scheme wholly implodes … ‘dollars’, ‘euros’, ‘pesos’, ‘rubles’, ‘yen’, et cetera, be damned.

  9. Pat Fields qsilver007   Well heck, now you’ve done it.  I’m all fixated on the statement ‘silver’s had the longest bear market—196 years.  
    That’s a statement that gets me to thinking.  Not because of an absolute truth but from the standpoint that silver had, until 1965, a real and hard monetary value.  It was constantly used as money.  It did have its ups and downs such as the 1883 and 1981 price smash.  But hasn’t the FIAT dollar been in the real bear market?
     It’s buying power is roughly 2% of that which a silver dollar could buy in 1913?   Silver has maintained its buying power relatively well relative to the paper dollar, even in its state of devaluation and price supression against the paper currency.  
    If one ounce of silver bought X in 1913 and now it takes the same ounce of silver to buy the same X in 2014, how is that a bear market?  I’m not saying that there was not some sort of bear market in silver. For 100 of those 200 years the European and US banking powers were desperate to knock America to its knees with the First National Bank and since 1913, with the Fed wrecking it damage.
     The war on silver’s been going on in earnest for at least a century.  The Pilgrim Society has waged that war for well over 100 years.
    But it seems to me to be a bit of a stretch to say we have had a 200 year bear market in silver when in its raw form it still buys commodities with vigor. I’ve used silver to purchase many goods and services.  Yes, they were dollar equated since the sellers knew only how to accept silver by translating to the dollar equivalent, but they accepted silver for payment and did so quite happily. Most then stacked that silver away for use at a later time. 
    Maybe it’s hard for me to fathom how a group could wage a war against silver or any other item for the equivalent of 8 generations or 3 human life times.  That is a long time to have a grudge against anything or anyone.  It is certainly possible but it takes a great deal of anger and focus to maintain that sort of frantic energy directed at any one thing.  In general, during a 2 century time period, most families don’t even survive in any recognizable form.  They blow to the wind and disappear from the pages of time. Even those who do see their strengths and fotunes dissipated over the decades. I think we give these people too much credibility to maintain a war against anything. Even dynasties dilute their force and fall with the steady grinding of time.

    The notion of using FIAT tomeasure the cost extracting precious metals from the ground will probably be with us until someone comes up to an accounting formula that balances silver prices with the cost in silver to extract it. Or gold for that matter.

     The EROI of silver.   4/10 of an ounce of silver spent to extract 1 ounce of silver.  That seems reasonable and leaves a decent entrepreneurial profit for the miner who then spends the 6/10 of an ounce on personal purchases, savings and reinvestment into an expanded mining operation.  At present time it costs 1.20 ounces of silver to extract 1 ounce.  Not particularly economical or profitable. The formula for profitable mining operations still fails in a test of will against cost foctors.

    It’s a bit early in the morning to think deeply about this subject but it is a good subject to discuss. It speaks volumes about the nature of people to seek value from a certain commodity and the nature of those who would thwart that search, even to the end that means their own wealth is damaged.  Eventually schemes like these boomerang
    200 years is nothing when compared to 5000 years.  Not that I want to wait that long to find out if there is a silver reset.

    • in 1776 an ounce of silver was $1.29 because government made coins that were that weight….in 1964 they made the same coins worth the same amount of money…during that period since money was “as good as silver” since it was money, no one really looked at it as an investment…
      after all, why would someone change all of there bills for bags of change ??? little did they realize
       
      lets say a plot of land in Philadelphia a few miles from the liberty bell in 1776 cost $500 for 10 acres
      in 1964 I think the same 10 acres would hve been around $340,000 ……
      so you see during that time period since silver was money, it did not hold it value, and was a horrible investment
      simply because the US GOV said 1.29 an oz is the right price
       
      u have to agree that in 1776 a company cost less than in 1971
      a house cost way less
      commodities cost way less
      im not sure why everyone is fixated on the fact that they silver should be some ridiculously high price
       
      so because the government fixed the price of money the silver lost almost all of its buying power during that period just like money did
      obviously in 1933 you can agree it lost more than half its buying power vs GOLD, once the US GOV had all of the citizens GOLD…
       
      Ask yourself this….
      over the past 20 or 30 or 40 years which of your assets has made you more money ?
      Real estate ?
      equities and stocks?
      precious metals?
       
      gonna have to say real estate, probably some individual stocks followed last by silver and gold…
       
      we all want to price things out in Gold and Silver and say that an old ben franklin half has held it value….. I don’t disagree that since 1964 the silver coinage has roughly held its value, but are u in the business of wanting your assets to grow, or watching them sit stagnant?
      look at it the other way………..in 1964 how many ounces of silver would your current house have cost you ?
      now look at your current house present day, how many ounces of silver is it worth?
       
      land is another finite commodity, there is a fixed amount just like silver…
      so if your house was worth say 25,000 ounces of silver in 1964
      and today you house is worth 37,500 ounces of silver
      clear you made a lot more on your house
       
      that said, I have a huge stash of silver coins and bars form the $5 and $8 area as my “getaway” money
      im bullish silver, am fully aware that it is manipulated, but also I have seen enough “scare” tactics out of various newsletters and websites, that want to trick people into silver and gold for the wrong reasons
       
      sincerely,
      stephen

    • qsilver007 … “over the past 20 or 30 or 40 years which of your assets has made you more money? Real estate? equities and stocks? precious metals?”
       
      Stephen, logic dictates that those choices sequentially more productive of trade dictates their order. Therefore, I’m compelled to reason them as …
      1) Money (metal), because it allows near limitless opportunity to arbitrage value differentials between people and locales.
      2) Shares in business operations, because the output of trade goods can far exceed the inputs of materials and labor.
      3) Land (generally, excluding special circumstances), because its productive capacity of trade goods has natural limits.

      The above illustrates the impetus toward temptation to ‘expand’ media away from metals to sheer credit (paper and digital accounting units). The premise of ‘more media equaling more trade’ is deceptively (destructively) short-sighted.

      The foolishness of the notion lay in the fact that non-metallic substitutes for money destroy the intrinsic balance between money and goods-at-market which alone yields optimal ‘price’ (a commercial synonym for ‘ratio’), ironically affecting both money itself and goods. The paramount function of markets is to serve as a setting in which this ‘balancing’ is most efficiently achieved. The instant that virtual substitutes for real physical money (metals being the ideal) are introduced, the damage to price discovery immediately ripples throughout the whole matrix.

      With metallic money having pretty constant parameters of supply-demand, meshed with those of the universe of all other goods, their relative ratios can stay in remarkably tight ranges for centuries on end, only thereafter changing significantly because of technological improvements in productivity in certain of the goods.

    • AGXIIK … “The notion of using FIAT to measure the cost extracting precious metals from the ground will probably be with us until someone comes up to an accounting formula that balances silver prices with the cost in silver to extract it.”
       
      That ‘pricing’ of one metal in isolation illustrates why the poly-metallic scheme evolved into the world standard. Market forces ‘shepherd’ copper, silver and gold into optimal inter-related values, so each can be objectively viewed. There isn’t any ‘need’ to interject some other qualifier like the banknote (itself, completely subjective) to arrive at that data-point.

      Money Is Weighed, Fictions Are Counted.

  10. qsilver007  I hear what you are saying  My contention is one that involves the ownership of real estate is that it can present the owner with huge cost factors in its long term holding
    Property taxes can be as much as 1% a year.  Compounding the increase in property values invariably compounds the percentage of taxes against a home.   Example.  If my mother bought a home in 1970for $20,000—which she did—in the intervening 10 years her property taxes went up 1000% to $2,500 a year.  It was a staggering increase. She was forced to pay 8% of the value of home per year.  Thus the reason that Prop 13 was so popular and is still in place
    Her home went up 900%  as she was given an offer to sell about 16 years later.  She took the $200,000 less a 6% commission, netting $188,000. Her comparatively tiny mortgage of $20,000, taken when she bought the home, a VA down of near zero, still cost her 6% a year, thus eating into her profit.  Her profit was taxes as capital gains and even though Reagan Carter mitigated the capital gains to $125,000 in gains not subject to taxes, California nicked her about 6% and 25% Fed on the net profit of about $60,000 over that $125,000
    Of course all this was embedded in the FIAT at interest paradigm that we’ve suffered from since 1913.
    On another note, her personal inflation rate, like those of the average American, was well over 50% during the full 1970 decade and another 4% per annum for the next 6 years.  Not something that one can see as a reasonable return on real estate
    This is just a tiny microcosm of real estate over the 16 years of her ownership. She may have actually made a return on her $20,000 but after all was said and done, it was modest at best.
    Silver went from $1 to $50 in that decade and she did not own any precious metals. Bummer.
    The thing about PMs is that they have no counterparty risk. Real estate (Royal Estate)means the Baron, King, Dictator, President, Bankster, Governor or some blind mutant county sheriff can extract one’s lifetime of real estate ownership via taxes, impounds, interest, insurance, regulation, eminent domain, inflation, deflation, price manipulation and a few other mechanisms designed to steal property from its rightful owners. The king always lusts after his land. His mindset is that property might show title in Average Joe’s name but it is never title in perpetuity. The King wants his damn property back. Harry Reid is a classis example of wanting his realm to stay in his hands forever. He’s good at that.
    I am not writing this to counter your argument.  I have lived through 4 massive increases in property values and 5 large decreases, all of which were the sole province of government spending.lending and printing out of control.   That is the specific realm of fiscal mismanagement reposited with the wing nutz and kleptocratic buffoons we regretfully keep election to high office
    It takes a while to drill down below the neuronal dross to get an a tasty nugget of reasonable thinking so the best thing that I can think of in response to manipulated prices is to say that no citizen and no asset is safe when the legislature is in session.
    Cheers  
    Steven
    PS I made a stone cold fortune in long term real estate holdings of 15-25 years and paid the GD’ing gummint another fortune in capital gains in this country and one other.
    Not because I was smart.
    I was lucky and had a decent period of time AND some really stupid sky high property value explosions that fattened my bank account. The taxes really pissed me off because the gummint took 35% of my gain, a gain that resulted for no other reason that the same assholes that demand their tax tithe were the ones who debased the currency, kiting property values.
    I avoid stocks, bonds and real estate for that reason. The GD’ing gummint is like a rabid dragon, flaming everything in sight.
    No one is safe when the dragon starts flapping its wings.
    IMO gummint has no right to meddle in my affairs. PMs remove me from their greedy baleful grasping natures.

    • @AGXIIK
       
      “This is just a tiny microcosm of real estate over the 16 years of her ownership. She may have actually made a return on her $20,000 but after all was said and done, it was modest at best.”
       
      Indeed so.  Considering ALL of the costs of real estate “ownership”, if I buy a house, live in it for 20 years and then break even after considering all the taxes, interest, and maintenance on it, I consider that a helluva financial victory.  After all, I have managed to live for free for those 20 years and that IS quite an accomplishment.  I submit that many people who claim to have made a lot of money via home ownership have not truly accounted for ALL of the costs involved.  The cost of lost opportunity is never considered, BTW, and neither is the amount of inflation that occurred during their ownership period. 
       
      Thought #2 is that it is impossible to own anything that is taxed.  We merely rent it from the bank and the state.  Yes, we can pay off the bank and be done with them, but our debt to the state is eternal… or, at least as long as the state exists, for it WILL extract annual payment from us for-f***ing-ever.  If anyone doubts this, just look at the instances wherein people quit paying their property taxes and note what happened to them.  They lost “their” property, that’s what.  Therefore, one cannot own such property because it is NEVER paid off.  It is always in debt to the state.  This is far closer to slavery than it is to true ownership, IMO.  Not that fortunes haven’t been made in real estate, of course, but it is rare among people who buy and sell houses in which they have lived.  Typically, it is done by people who buy up cheap land in an out-of-the-way place that then becomes popular or by those who develop property for sale to others.
       

    • Ed_B … “our debt to the state is eternal… or, at least as long as the state exists”
       
      Ed, I have to respectfully dispute your assumption as in error, on ground of technicality, which I’ll explain by way of power gradation.

      1) Man (and woman) created government as an administrative agency to attend specified duties. Thus, man is the superior over it.

      2) Man then creates core ‘persons’, called ‘governor’, ‘representatives’, ‘senators’, et cetera (generally ‘officers’), to populate their government. All these men who volunteer as such officers surrender themselves up as servants to the superior man for position and wages.

      3) Government, having no power over its creator man, its officers are authorized to legislate ‘persons’ to further populate itself with (generally, ‘bureaucrats’). These men who volunteer as such bureaucrats surrender themselves to be persons called ‘citizens’ (employees of government).

      4) In the final analysis then, there are men or persons in society as regards government.

      So, by allowing oneself (knowledgeably or ignorantly) to act as a statutory person in deference to the supreme character of a man, one thus assumes the role of master or servant.

      Now, because a mortgage note is the borrowing of the public’s credit (remember, 16 USC Sec. 8, ‘Securities of the United States’), as long as the borrower’s note remains in force, the ‘borrower’ is a statutory ‘person’, obligated to man’s agent government. However, once the note is liquidated, dissolving the mortgage, he is again a man … if he realizes and re-asserts it.

      It’s analogous to being ‘employed’  by a company. If your contract runs its course or you quit … you’re no longer obligated to it’s demands.

    • PatFields says:
       
      1) Man (and woman) created government as an administrative agency to attend specified duties. Thus, man is the superior over it.
       
      The word of GOD says otherwise
       
      Every person is to be in subjection to the governing authorities. For there is no authority except from God, and those which exist are established by God. Romans 13:1

      If the reason is not known, logic can not be applied to the methods, this then being an assumption !

    • ~~good&evil~~:< … “Every person is to be in subjection to the governing authorities.”
       
      While I fully concede that God is Supreme over all, since God gave man dominion over things of the earth and man in such dominion created government, man therefore stands superior to his creation.

      Now, if we’re to take your quote as stated, it … does not … say that ‘every man’ is to be in subjugation, but … as I said above … it agrees with me in stating that every … person … is to be so.

    • GOD institutes what is needed to bring about His Will, it is the genius of GOD which makes us believe that our will is free of His, when one understands why we as His Son/Word/Seed have bean scattered into this wilderness of confusion/duality/good&evil, then will we understand  why our reasoning measured by our five husbands/senses  both individual and collective in the end always consumes itself,      
       
      Consequently, whoever rebels against the authority is rebelling against what God has instituted, and those who do so will bring judgment on themselves. Romans 13:2
       

    • - Good & Evil -  Romans 13 addresses government as ministers of God and is therefore conditional.  When the government ceases to be ministers of God, we are no longer subject to them.  The whole Word of God must be brought to bear.  Remember that Peter told the Jewish authorities when the apostles were commanded to cease speaking of Christ that they were to obey God rather than man. Acts 5:29.  I refer you to an excellent critical analysis of Romans 13 by Chuck Baldwin.

      http://www.newswithviews.com/baldwin/baldwin521.htm

      We are to watch the authorities carefully, and call to their attention the moment they step outside God’s Word.  At this time of our lives the government of the united States lacks all authority as everything it is doing is evil, and therefore illegitimate, as it is outside of God’s boundaries.
       

    •  

      By His spirit he hath garnished the heavens; his hand hath formed/created the crooked serpent/evil. Lo, these are parts of his ways: but how little a portion is heard of him? but the thunder of his power who can understand? Job 26:13-14

    • @PatFields
       
      Not a problem, Pat, as you know that I will respectfully disagree with you as well.  Neither disagreement, however, alters the reality of the situation one whit.
       
      “1) Man (and woman) created government as an administrative agency to attend specified duties. Thus, man is the superior over it.”
       
      I accept that this WAS the original raison d’etre but that is pretty much well and truly over and done, your common law arguments notwithstanding, although I do wish you THE best of luck with that.  Just ask ANY government official what they think about all this.  I have NO doubt whatever that they will contend that the state IS superior to the individual and they will be willing to spend unlimited amounts of our tax dollars proving it to us.  If that fails to impress us, they will send heavily armed thugs to convince us of the error of our ways.  So, in theory, you are quite right, but since none of us lives on paper or in an antiquated law book, we have to deal with what IS rather than what WAS originally intended or what should be.  Just MHO, you see, and I KNOW that you will disagree, but I can live with that.  ;-)
       
      Now, because a mortgage note is the borrowing of the public’s credit…”

       
      Thankfully, I no longer have one of those.  :-)
       
      “It’s analogous to being ‘employed’  by a company. If your contract runs its course or you quit … you’re no longer obligated to it’s demands.”
       
      Perhaps.  I have to say that in the 31+ years I was employed by my previous employer, not once did I ever have a concern that they might stick a gun in my face or threaten my family or my liberty to gain my acquiescence in various matters… and THAT is the difference between most employers and any tentacle of the government.  But then, you know that.
       

    • Ed_B … ” Just ask ANY government official what they think about all this.”
       
      There’s the crux of what I’m trying to entice you to more deeply examine, my Friend. Why is it, that the master (the man having original right of property in America) is asking his servant for permission to administer what’s rightfully his? Because this backwardization has become the pattern of others … to follow?

      “all experience hath shewn that mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed.” –Thomas Jefferson

      Perhaps the ‘evils’ are more ‘sufferable’ among some of my fellows than by my sentiments. Perhaps their accommodation to the status-quo is too comfortable … that to disturb it raises anguish.

      “Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty, or give me death!” –Patrick Henry

      I’ve long proposed a practical view that the banknote scheme lay at core of our People’s enslavement. But, lately I see how even that devious trap is itself powered by the spring of … personage.

      “The end of law is not to abolish or restrain, but to preserve and enlarge freedom. For in all the states of created beings capable of law, where there is no law, there is no freedom.”  –John Locke

    • To understand what law is to man, is to understand why it is a burden to him. There  is only one law, but even this single law becomes an adversary to man when it is viewed as something separate from self, this is because law imposed upon innocents is a contradiction in itself.

      “thou shall not eat of it:” Gen 2:17 is the whole of the law, being it the very  same as “love thy GOD with all thy heart mind and soul” or “love thy brother as thyself” seeing we are no more separate from each other as we are from GOD, we break this law of Life when we eat of our own reasoning gathered from that which is outside of self by our five senses, which is to say we corrupt our walk by our own reasoning measured by our soul which is ruled over by our flesh, this being an  abomination to the Truth we are as the son’s of GOD.
       
      The reason our Brother Jesus is the light and the truth and the way is because He overcame this crooked path by not giving in to His own reasoning, but only ate from the hidden manner from within Himself.
       
       
           
        
       
       

  11. I agree with you on many of your points…
    I am for silver ownership more than gold, and have been for decades, but worth noting that there are other opportunities
    even for those that hate the man ….take coffee… up more than 100% from Dec 2013 to April 2014
     
    agree that the taxes are always a question, but in theory they could change cap gains, and when I sell silver or gold, they don’t care how you made the money, rather how much they are getting…
     
    I am knew to this site, but have dealt in metals and markets for 20 years…..I liked some of the stories, definitely a long silver bias, but that’s fine with me…
     
    im just not a fan of some of the other sites, where they basically use scare tactics to tell people that buying gold or silver is a guarantee, don’t worry about price and so on….
     
    any one using those type of words is subject to me…
    just 3 years ago 1 ounce of Gold would have bought you 1.5 shares of the SP500….now stocks in favor Gold not, it takes 1.5 ounces of Gold to buy the same SP500 …….
     
    we all know that the debt, ZIRP and QE are not a sustainable growth model, and that in the way end, tangible things will be most valuable, but the question is, will it take 1 year 10 or 50?
     
    best,
    Stephen

    • “… but the question is, will it take 1 year 10 or 50?”
       
      Yes, that is, indeed, the question.  But it is an unanswerable question, isn’t it?  We not only do not know what the future holds, we cannot know… and that is a very serious obstacle to rendering an answer to that question.  But… we do know a little about trends and the results from terrible government and Fed monetary and fiscal policy.  That the current unsustainable fiat currency paradigm will collapse is without doubt.  WHEN it will do so is anyone’s guess.  We all have an opinion on that but allow me to suggest that it does not matter a whole lot.  We need to worry about the things that we can know and change and not the things that we cannot know or change.  Yes, I too have great academic interest in knowing when the US dollar / economy / treasury bond will collapse but do not believe that an answer to that is forthcoming.  In fact, I am damn sure that it is not coming!
       
      We know that inflation destroys the value of a currency.  We have all seen this effect in our own lives.  Some item that used to cost $1 now costs $2… or more.  I remember when gasoline was 2-bits a gallon and now it is $4 in some places.  That is an 16:1 rise in fiat cost.  Fiat currencies simply do not hold their purchasing power over any substantial period of time.  This is a documented fact so is not in doubt.  We can, therefore, choose to do something about this effect that benefits us, we can wring our hands about it, or we can ignore it and hope that it goes away at some point.  Most of us here choose to do something about it and that something is to convert a share of our fiat currency into precious metals.  These are our long-term savings.  They are not an investment.  They are our financial insurance.  For some of us, they are a strong part of a balanced portfolio of other investments that include stocks, bonds (yuck), real estate, commodities (including PMs), and cash / cash equivalents.
       
      Not being an all-or-nothing kind of person, I am not “all in” with ANY investment or form of saving.  A life-time of experience has taught me a number of things, including that I might be wrong about certain ways of handling my money.  To prevent this from having strong and deleterious effects upon my personal wealth, I use dollar cost averaging and diversification to ameliorate the effects of incorrect or poorly-timed financial judgement.   Since the proof of the pudding IS in the eating, as they say, this approach has worked very well for me for the past 37 or so years.  That is a reasonable measure of success, IMO.  Not that this guarantees anything but it is about all I have to go on.
       
      Best case scenario is that my financial judgement has been mostly correct and that I will be able to maintain my wealth and the lifestyle that it supports indefinitely.  Worst case seems to be that I make less money than I might have had I possessed a crystal ball that showed me what the future is like in enough detail that I can “make a killing” in the market.  The latter seems unlikely, so the former is probably the best bet at the moment.  ;-)
       

    • Russian Prime Minister Dmitry Medvedev says Western sanctions against Moscow will galvanize it into using the ruble as a currency for global trade, amid heightened tensions between Russia and the US over Ukraine.

      “Trading for rubles – this is a definite priority,” Medvedev said in an interview published on Saturday.
      “This, in fact, should ultimately move the ruble from the cohort of freely convertible currencies into the ranks of reserve currencies,” the premier added.
      The Russian government is reportedly considering plans to oblige state-owned companies to receive payment for key exports in rubles, rather than in dollars as at present.

      “Of course, the more we sell, for example, our products, including oil, gas, machine-building, defense products for rubles, the more we will encourage such a quality for our currency,” Medvedev said.
      He also played down the immediate negative consequences of Western sanctions against Moscow, saying, “At present the effect of sanctions on the Russian economy is absolutely minimal, if you can talk about any effect at all.”

      The United States and its Western allies accuse Russia of destabilizing Ukraine and have slapped a number of sanctions against Russian and pro-Russia figures.
      Russia, however, rejects the accusation, saying the pro-Russia protests in Ukraine began spontaneously against the new government in Kiev.
      Tensions between the two countries heightened after Crimea declared independence from Ukraine and formally became part of the Russian Federation following a referendum in March.
      Russia has warned that it will take retaliatory measures if the West continues its policy of sanctions over the crisis in Ukraine.
      SF/HMV/SL

       
       

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