Visa & Cashless Olympics Celebrate “Currency of Progress,” the Future of Payments, But Fail

The only REAL money you’re likely to see in London currently are silver medals.
The elite have established an entirely cash-less system around London for the 2012 Summer Games.  Don’t think for a moment they wouldn’t love to implement this fully across the entire Western world to eliminate those pesky untraceable (and thus untaxable) cash transactions.

If the Olympics 2012 in London are a celebration of the powers-that-be, then Visa is the plastic of the illuminati. At every Olympic and Paralympic Games for the past 25 years, Visa has implemented and managed the payment system for all game venues. In anticipation of the £750 million in expected consumer spending at the Olympics, “Visa has partnered with merchants to ensure more than 140,000 retail locations throughout the United Kingdom accept Visa pay Wave-enabled cards and phones, including 5,000 London taxis and 3,000 point-of-sale locations at Olympic venues.” [Read more...]

Gold Consolidating After 4 Days of Losses

Gold traded sideways on Friday, hovering after its 4 days of losses when the European Central Bank fell short of any immediate bold action to help the Eurozone debt crisis. Draghi’s comment “to do anything it takes” was a clear example of over promising and under delivering. Gold has lost about $40 since it peaked during the initial euphoria over Draghi’s pledge.

Regarding the ECB implementing swift market intervention, the bank said it postponed a decision “for a few weeks”. (Weidmann won Round 1)

The Bank of England also left rates unchanged yesterday. [Read more...]

NFP Beats Expectations: +163,000

  •  NFP +163,000 on expectations of + 100,000

  • Official Unemployment Rate rises to 8.3%

  • Full time jobs: -197,000

  • Silver slammed below $27 to $26.96, gold to $1584 [Read more...]

Retired Fraudster on the ABC’s of Financial Fraud and Why it’s Easier than Ever!

Welcome to Capital Account. The dark Knight rises as dark pools of liquidity traded by robot computer algorithms went awry and threatened Knight Capital’s stability, costing the firm $440 million. This is just one more issue with broker dealers and markets, and one more blow to confidence in the US financial system. We hear from a former fraudster, Sam Antar, and the Commodity Customer Coalition Founders, James Koutoulas and John Roe, about how to restore faith in a broken system. [Read more...]

Silver Update: The Dark Knight

BrotherJohnF discusses the algo flash crash of Knight Capital in his latest Silver Update::
The Dark Knight [Read more...]

CME LOWERS SILVER Initial & Maintenance MARGINS 11% EFFECTIVE Mon 8/6

The CME announced after today’s close a 10.7% REDUCTION in silver initial and maintenance margins effective Monday 8/6/12.
Initial silver margins cut from $18,900 to $16875, and maintenance margins cut from $14,000 to $12,500. [Read more...]

Jim Sinclair: ‘Third Parties Holding Your Assets is Madness & Self Destructive!’

In the wake of the flash crash algo collapse of Knight Capital (and rumors breaking this afternoon that segregated client funds may be affected), the legendary Jim Sinclair has issued the following missive to email subscribers on the extreme importance of becoming your own central bank and holding your assets in your own personal possession!

‘You are all involved in third parties holding your assets. This is madness and self destructive.
Audits are no good. Insurance is not funded to cover all the risk out there.
Why do you hold securities with a clearing firm? Why do you own any public gold company that will not direct register or deliver certificates for you? Why are you long paper gold and think you really own gold? How do you hold ETFs and really believe you own gold? You do not! How do you buy gold anywhere you never will see or touch?
It is raving madness that affects 9.9 out of 10 people reading this. The system is BROKEN and all the King’s men cannot put it back together again...Wake up, DAM* IT!’

[Read more...]

SILVER SUPPLY GOING THE WAY OF THE DINOSAUR

The focus of the markets and the alternative media is firmly placed on the continued disintegration of the world financial system.  Many believe that the collapse of the fiat monetary system along with the global banking cartel is the worst possible outcome.  However, this may actually turn out to be the good news in a sea of bad news that is lurking around the corner.

As the world’s attention is currently directed at its massive paper-debt dilemma, a physical problem looms larger each passing day.  This is what I call, the brontosaurus in the living room.  The information provided in this article may help connect the dots to the reader who has been grossly misinformed by the highly specialized analysts in the various industries and media.

In the future as tens of trillions of dollars of debt masqueraded as wealth implodes, there will be a stampede into the best safe havens available — the precious metals.  Many believe gold will play the major roll in this upcoming transfer of wealth.  While this may be true, silver could actually turn out to be the better choice when we consider the factors presented in this article. [Read more...]

Geithner: Europe Much More Grave Than US Fiscal Cliff

U.S. Treasury Secretary Timothy Geithner attempts to convince Bloomberg’s Peter Cook that contrary to Lagarge’s recent IMF statement, the threat to the global economy from European debt crisis is much greater than the coming fiscal cliff for the US.
Turbo Timmy also attempts to downplay his involvement in the LIBOR fixing scandal that in reality is a major current threat to his career. [Read more...]

Mike Krieger: ‘This System is Going Down’

Mike Krieger of the excellent LibertyBlitzkrieg.com joins our friend Sean from SGTreport.com for an in-depth conversation about our faltering Republic, and the uplifting reality that the NWO traitors are losing their grasp on power because the world is fully awake to their crimes.
Krieger discusses the looming attempts to disarm the people of the United States and reminds us that only slaves are disarmed, and we are NOT slaves.
Mike says we will need to re-found the Republic, because this system is going down.

 Full interview below: [Read more...]

How Fast is the Federal Defecit Rising?

Forget Minsky Moment.
George Washington University has put together a 1 minute presentation demonstrating just how far over the cliff US fiscal debt and spending has gone.

How fast is the federal deficit rising? In every second of 2011, the federal government spent $41,210 that it didn’t have.

MUST WATCH!
[Read more...]

The Dog Days of Maples….

Doc’s Deal Of The Day

Two Day Maples Sale!!

2012 Canadian Silver Maple Leaf


AS LOW AS $2.19 OVER SPOT!!

 Call Now To Order At 614-300-1094 [Read more...]

Draghi Shoots a Blank, Gold & Silver Plunge But Support Holds

Matching the Fed’s actions yesterday, the ECB’s Mario Draghi has just stated in his press conference that the ECB ‘may’ act in the coming weeks.
Translation: Draghi doesn’t have the power to print anything without Germany, and Mr. Market is not happy.
Gold and silver sold off hard on the news/COMEX open, with silver seeing it’s second consecutive $1 smack immediately on the CRIMEX open.

Silver has held $27 (and has rebounded to $27.40)- an extremely impressive feat considering a 2-day cartel raid on the heels of the FOMC statement combined with Draghi’s epic failure could not induce silver to even approach its lows near $26 much less completely break down. [Read more...]

Draghi vs. Weidmann Round 1

Gold was off less than 1% on Wednesday, its biggest drop in 3 weeks, as the Fed didn’t deliver the sparks for QE3’s fireworks.  It did signal that further bond buying could be in store to help the US economic recovery that had lost steam this year. Fed officials commented that the economy had “”decelerated somewhat,” a change of tone from its previous assessment in June when the economy was “expanding moderately”.

Investors now look to the European Central Bank’s rate decision at 1145 GMT.  If “Super” Mario Draghi doesn’t come out with a loaded arsenal (bold intervention), then the markets will be disappointed.  Mario Draghi will be confronting his colleague and nemesis in the ECB Jens Weidmann.  [Read more...]

Peter Tchir on the ECB’s Printers, LIBOR Litigation and the German Tipping Point!

Welcome to Capital Account. The Federal Reserve released its interest rate decision today: extremely low rates until late 2014. Also, tomorrow, the ECB council meets about possible bond purchases and how to react to the financial turmoil in Europe. We talk to Peter Tchir, founder of TF Market Advisors, about what to expect from the central banks.

Also, the manufacturing scenario in Europe appears grim. Eurozone factory activity in July fell at its steepest rate in more than three years, according to Markit Economics’ Purchasing Managers Index. German manufacturers suffered the largest fall in new export orders of any Euro-zone country. Could this mean trouble in Europe’s economic powerhouse? We will talk to Peter Tchir about how this fits into the crisis calculus. [Read more...]