24-07-2015_2There has been little or no debate by commentators or in the media about the risks posed by bail-ins.
The cosy consensus is that bail-ins are good as they allegedly protect the taxpayers from bailing out banks.
As if it is a fait accompli that banks should be bailed out by anybody – taxpayers or depositors – in the first place.

return kingSimply put, gold rises when the dollar falls…and not until then.  So long as the community of faithful remain captured by the dollar religion and continue to believe in the church leadership, gold will remain to them little more than a shiny relic from antiquity, and the price will reflect this sentiment. If however peoples faith in the dollar is shaken, then they will turn to gold for their salvation and the price will rise.
Until that day I refuse to attend church or place my faith in the paper dollar religion, instead I wait for the second coming of gold …

In his first international television interview since stepping down from his post as Greek Finance Minister, Yanis Varoufakis told CNN‘s Christiane Amanpour on Monday that European lenders had forced his government to make a choice between “suicide or execution.”

The News Doctors has the story:  Click here.

letter jul 19 goldWhen the red and green lines on the dollar/gold basis/cobasis chart below move together like this, it means the price change is caused by speculators in the futures markets, who are repositioning.  In this case, obviously, they’re selling.
It is of note that the fundamental price of gold moved up $5 this week It’s now $65 over the market price.
Read on, for the only accurate picture of the supply and demand conditions in the gold and silver markets, based on the basis and cobasis.

nuclear bombI would still stand by my assertion that gold will be restored as the world’s “base” currency, however I now am nearly certain it will never have that chance before a world war eruptsa world war that will likely take humanity back to the Stone Age…

sprottThe demand numbers I’ve seen are way beyond the supply.  I think that Western central banks surreptitiously make up the missing supply and that someday they’re going to look in the cupboard and realize that it’s bare.
So far, everyone in the press is downplaying gold but I haven’t lost any conviction whatsoever.

pm1_aThe manipulative smash on the gold price on Sunday night has once again led to a surge of buying of gold coins and bars across the globe. Both the Wall Street Journal and Reuters report on how bullion dealers are seeing a spike in demand for gold coins and bars in  India and China and indeed Europe, Australia and the U.S.
The U.S. Mintwhich ran out of Silver Eagles earlier in the month due to unexpectedly high demand – has sold 110,000 Gold Eagle one ounce coins so far this month according to Reuters. This compares with a mere 21,500 ounces sold in May and 76,000 in June. It represents the highest level of monthly demand in over two years – with more than a week to go till the end of the month.

Gold BundesbankThe anti-gold propaganda took on extraordinary proportions last week as a prelude to Sunday nights vicious paper raid on the price of gold.  The media’s anti-gold media terrorism culminated with this silly, farcical article entitled, “Let’s Be Honest About Gold:  It’s a Pet Rock”…  Perhaps the most absurdly misleading article ever written about gold.
I am convinced that the effort to push down the price of gold, and the corresponding media effort to publish highly misleading and negative reports about gold is directly related to an effort to cover-up the fact that the U.S. is systemically starting to collapse.

collapseTwo well-known financial forecasters claim that virtually all governments worldwide will be hit with a gigantic economic crisis in the first week of October 2015.
Both believe that the domino collapse will eventually hit the U.S., and America will end up defaulting on its debts – and falling into financial crisis.

From coast to coast, we are witnessing a dramatic increase in violent crime, and the economy is not even crashing yet
So what is going to happen when the next great economic crisis hits us, unemployment skyrockets, and people really start hurting?

goldGovernments and central banks around the world continue to hold gold as part of their official reserves.
Owning gold is saving, which by definition is civilized, i.e. NOT barbarous.
Debt, on the other hand, is the exact opposite. It is a lack of savings that shows a complete disregard for the future.
It is the modern equivalent of gorging on some wild beast with no thought to tomorrow’s meal… or in this case, no thought of tomorrow’s generation.
Debt is the barbarous relic. Not gold.
And governments are up to their eyeballs in it, continuing to engage in this primitive, uncivilized behavior with wanton abandon.

imagesGold stocks are trading lower now against gold than when gold was under $300 an ounce!
As a group, gold stocks are trading like the entire sector is going “off the board”. Is that going to happen?
It’s my professional opinion that the price and volume action on Friday, Sunday, and Monday has produced a historic moment, with the commercial traders now holding a net long position in gold!   If they are not net long, they are very close to being so.

When “guilty pleas” threatened to exclude JP Morgan and Citibank from making certain FHAinsured loans, the Department of Housing and Urban Development (HUD) immediately came to the rescue and changed its own documents without telling anyone…

Thanks to Barack Obama, it is only a matter of time before Israel feels forced to conduct a massive military strike against Iran’s nuclear program.  When that happens, Iran will strike back, and hundreds if not thousands of missiles will rain down on Israel.
This exchange will likely spark a major regional war in the Middle East, and that could end up plunging the entire planet into chaos.