CNBC Host States Silver Manipulation is a Fact, NOT a Conspiracy!

CNBC invited Chris Whalen of Tangent Capital onto Squawk Box to discuss JP Morgan’s Q2 earnings report July 13th, the widening LIBOR scandal, and the European debt crisis.

Shockingly, at 9:26 into the clip, the CNBC host Andrew Sorkin (not Whalen, the CNBC host Sorkin!) brings up Barclays’ manipulation of LIBOR rates, and states: ‘You hear about these things and you used to think these are conspiracy theories! You used to hear things that people are manipulating LIBOR, people are manipulating the silver markets-

CNBC’s Michelle Caruso-Cabrera: ‘And they are!!

Sorkin: ‘And they are!!

Chris Whalen: ‘It’s because these markets have become so concentrated that a few players can do it.

It appears Blythe and JP Morgan’s Commodities Desk have a serious issue on their hands, as now even CNBC hosts are openly admitting that silver is manipulated and that silver manipulation is a fact, and NOT a conspiracy!
[Read more...]

Gold Seen At USD 3,500, 6,000 and 10,000 Per Ounce

Negative interest rates continue to penalize pensioners and savers in European countries and this will lead to further diversification into gold. Financial markets are already starting to wonder about the solidity of last week’s summit measures to tackle the euro zone crisis and soon they may question whether even looser monetary policies will help prevent recessions and sovereign defaults. With Independence Day today (Happy July 4th to all our American followers, clients and friends), the ECB decision tomorrow and NFP on Friday, trading should be quite today but as we know illiquid markets can lead to outsized market moves. We tend to try and avoid predictions in GoldCore as the future is largely unknowable and there are so many variables that drive market action that it is nigh impossible to predict the future price of any asset class. However, our opinion has long been that over the long term all fiat currencies will depreciate and devalue against the finite currency that is gold. For this reason we have long held that gold would reach its inflation adjusted high of $2,400/oz and silver its inflation adjusted high at $140/oz and the equivalent in euros, pounds and other fiat currencies. Gold at just over $1,600/oz today remains 33% below its record nominal high in 1980. Silver at just over $28/oz today remains 80% below its record nominal high in 1980. However, we have tended to focus on the important diversification, store of value and safe haven benefits of owning physical gold (and silver) bullion. [Read more...]

Turd Ferguson: The Rest of the Bullion Bank Cartel has Turned on JP Morgan!

TF stated that the commercial’s net short position has now been reduced to 12,000 contracts, a reduction of nearly 50,000 contracts from April 2011.   As JP Morgan is estimated to still hold approximately 16,000 net shorts, TF stated that it appears that the rest of the bullion bank cartel has turned on JP Morgan:  ‘All of a sudden, instead of all acting collusively together, all of a sudden it’s everyone against JP Morgan!

In this explosive interview focusing on the metals, The Doc & TF also discussed the LIBOR manipulation scandal, the new downturn in the US, the manipulation of ALL markets, and physical supply issues with gold and silver.  [Read more...]

Jim Sinclair’s ‘Most Important Message in 10 Years’: Gold to Target $3,500

The legendary Jim Sinclair has sent the following email alert to subscribers this afternoon in what he describes as ‘MY MOST IMPORTANT MESSAGE FOR YOU SINCE MY $1650 GOLD CALL IN 2001‘.
Sinclair stated that ‘the rig is up‘, that today’s movement in gold means that the cartel’s battle to stop gold has been lost, and that ‘the six attempts to kill gold was a now failed attempt to keep gold from trading above $3500‘.

From Jim Sinclair:

Gold will go to and above $3500. This is the most important message I have sent you since 2001.

There are very few of us dynamic thinkers that see everything as a trend constantly in motion. Anyone can be a static thinker, quoting recent economic figures or news headline (MSM), and coming up with a usually wrong opinion.

The change today is that the “Rig Is Up.” [Read more...]

CFTC to Hold Open Meeting July 10 to Consider Final Rule on Definition “Swap”

As Bart Chilton informed SilverDoctors’ readers on May 31st when he stated that the CFTC’s silver investigation would conclude by September if not sooner, and that the CFTC would meet shortly after the 4th of July to consider final rules on the definition of the word ‘swap’, the CFTC has just publicly announced that it will hold an open meeting July 10th to consider the final rule on the definition of swaps, and the proposal to exempt certain swaps.

Full CFTC release below: [Read more...]

COMEX Silver Inventory Update 7/3/12

We have 4 COMEX silver inventory movements to report this afternoon during light trading ahead of the 4th of July holiday, including a large deposit into HSBC vaults

COMEX WAREHOUSE SILVER INVENTORY UPDATE 7/3/12 [Read more...]

Hinde’s Ben Davies on Bloomberg: Gold Could Hit $6,000

Bloomberg’s ratings must be as bad as CNBC’s.  The MSM financial outlet invited our favorite gold analyst, Hinde Capital’s Ben Davies on Tuesday, to discuss his outlook on gold.
In this MUST WATCH interview, Davies tells Bloomberg that gold is the ‘next big trade’ and that the metal could hit $6,000/oz! [Read more...]

Today We Celebrate Our Independence Day!!

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

Diamonds Aren’t Always Forever: Barclays CEO Resigns

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...]

Gold Coin Demand in H1 2012 Shows Fundamentals Driving Current Demand

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...]

Silver Update: LIBOR Liars

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...]

John Embry: Before This is Over We’ll Have a New Currency System Backed by Gold

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...]

Marc Faber: Germany, Not Greece Should Exit Euro

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’

[Read more...]

‘We’re About to Have the Most Devastating COLLAPSE in World History’

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...]

Obamacare Now Invalid Because Tax Bills Must Originate in House

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...]