Doc’s Deal Of The Day
In Honor of American Independence Day, May We Present…
2012 Silver American Eagles
AS LOW AS $2.59 OVER SPOT!
>500 ounces $2.59 over spot
100-499 ounces $2.89 over spot
40-99 ounces $3.19 over spot
All Silver Eagle Purchases OVER $3000.00 INCLUDE FREE SHIPPING
Get Your Phyzz From The Doc
“Nothing fancy. Just a telephone and low prices.”
Call Now To Order At 614-300-1094
After yesterday threatening regulators with revealing details (likely that regulators were complicit in LIEBORGATE, as well as every other TBTF bank), Barclays CEO Bob Diamond resigned Tuesday over mounting external pressure.
Amazingly, Chairman Marcus Agius who resigned Monday, has been reinstated and will lead the search for a new CEO.
Apparently Diamonds aren’t alwys forever. Now if only we could say the same for Diamond’s counter-part at JP Morgan, Jamie Dimon….
Barclays chief executive Bob Diamond has resigned from the UK-based financial services giant amid an interest rate-fixing scandal that some believe could be a watershed moment for Britain’s banking system. [Read more...]
Fundamentals (inflation expectations, longer-term savings and investment objectives) should be driving current demand for gold coins. And, this is exactly what we are seeing. In June 2012, the US Mint sold 54,500oz of coinage gold, up on 53,000 in May 2012. Total for H1 2012, US Mint sales of gold coins in terms of total weight sold are down 41.3% on H1 2011 and it is down 49.8% on H1 2010 and 50.3% on H1 2009. Dramatic? Sure, when one disregards consideration of drivers for 2009-2011 demand for coins being coincident with extreme risks in other markets. Total H1 2012 demand was at 338,000oz still well ahead of H1 average demand for 2000-2007 period when it was 165,679oz, but down on 531,750oz average for H1 2008-2011 crisis period. Exactly the same picture – return to fundamentals – is seen in the number of coins sold. Consistent with still robust demand drivers, H1 2012 average coin sold contained 0.60 oz, while H1 2000-2007 period average was 0.51oz and H1 2008-2011 period average was 0.76oz. [Read more...]
BrotherJohnF discusses the LIBOR manipulation scandal by Barclays, RBS, and likely many more TBTF’s to come in his latest Silver Update: LIBOR LIARS [Read more...]
Hera Research has released an interview with John Embry on gold, silver, and the European debt crisis.
Embry discusses the current corrections in gold & silver, his outlook over the next 6 months, and the end-game for our Western fiat financial system.
Embry states that ‘ before this is over we’ll have a new currency system, probably backed by gold‘. [Read more...]
Doom, Boom, and Gloom’s Mar Faber spoke with Bloomberg this morning on the Eurozone debt crisis, and stated what Jim Willie told readers would be the outcome of the Euro crisis back in 2008: rather than the Southern PIIGS, Germany should be the one to abandon the Euro-zone. Faber states that ‘If I were the Germans, if I were running Germany, I would have abandoned the eurozone last week’
Our friend Sean from the SGTreport has released a MUST LISTEN interview with Harley Schlanger the national spokesman for the LaRouche Organization.
Harley says, “We are about to have the most devastating collapse in world history, of the whole global financial system… If we don’t do something to stop this, we’re going to lose EVERYTHING. We’re going to have either hyperinflation or an implosion of the banking system which will reduce the value of the Euro and the Dollar to nothing.”
Full interview below: [Read more...]
It appears that the Supreme Court’s upholding of the PPACA precisely because it is a tax has created a new Constitutional issue.
The PPACA originated in the Senate, and the Constitution requires that all tax laws originate in the House.
So in an ironic twist of fate, Obamacare is now invalid for entirely different Constitutional reasons than the individual mandate.
The Patient Protection and Affordable Care Act (Obamacare) may now be invalid because the Supreme Court ruled that it relies on a tax for implementation. [Read more...]
Submitted by SD Contributor SRSrocco:
A FEW WORDS ON CONSPIRACIES
If you go to any local courtroom and sit and watch a full day worth of court cases, chances are you will witness several cases based on a “CONSPIRACY”. Furthermore I would like to list several well known large cases of where CONSPIRACIES have been present:
ENRON. WORLD COM. BERNIE MADOFF. MF GLOBAL. AIG. FANNIE MAE.
and the list goes on and on… [Read more...]
Doc’s Deal Of The Day
2012 Canadian Silver Maple Leaf
AS LOW AS $2.09 OVER SPOT!!! [Read more...]
While based towards the current fiat system like all MSM publications, the BBC has released an at least somewhat two-sided discussion on whether a gold standard would be beneficial at solving our current Western debt crisis.
Do we need to re-forge the link between money and something tangible?
A popular solution to the financial crisis has been to print more money, but is there another way of fixing our economy? Would the financial system be more stable if each pound, dollar or euro in our pocket was once again backed by gold? [Read more...]
BBC News reports that Barclays Chairman Marcus Agius will resign Monday over the ‘devastating blow to the bank’s reputation‘ caused by the revelations that Barclays attempted to manipulate LIBOR lending rates.
CEO Bob Diamond has so far refused to resign, stating that authorities have ‘found no evidence that knowledge of the manipulation went any higher than immediate desk head supervisors.’
So Bob, its fine that you were fully aware of your firm’s false reporting of Barclays’ borrowing rates, as long as authorities weren’t able to find hard evidence proving the fact?
Marcus Agius is to resign as the chairman of Barclays in the wake of the Libor lending rate scandal. [Read more...]
The BBC this morning has published details from a 2008 meeting with the Bank of England’s Paul Tucker with Barclays Bob Diamond in which the BOE allegedly advised Barclays’ submitters to provide data to the British Banker’s Association LIBOR setting committee’s that the bank was paying lower borrowing rates than was actually the case.
Tyler Durden is already all over the report, pointing out that JP Morgan and Bank of America at the time were reporting borrowing rates far below even nationalized competitors (which intuitively should have had lower borrowing costs than still private banks such as The Morgue).
With market rumors that a US bank will be dragged into the LIBOR scandal, Zerohedge predicts IF the SEC actually decides to hand down a wrist slap to a US bank over LIBOR manipulation (more like outright fraud), it will be either Bank of America or JP Morgan as the most egregious offenders.