In Classic Cartel Form, Gold & Silver Pop, Then Raided Post NFP Report

Live 24 hours silver chart [ Kitco Inc. ]Gold and silver spiked immediately following the jobs report release, with silver spiking to .50 to $27.86, and gold popping $15 to $1611.
Obviously this was not acceptable (particularly with weekly closes above $28 and $1600 likely), so the cartel stepped back into their old role of raiding the metals post job-report, and subsequently smashed silver .81 to $27.05, and gold $30 to $1581! [Read more...]

The Impact of Inflation and Deflation on Gold

(Editor note: readers may also be interested in The Causes & Results of Hyperinflation)
Following yesterday’s WGC reports about the role of gold in investment portfolios, this report looks at gold’s performance during inflationary and deflationary times. Gold, non-perishable and limited in supply, is seen as relatively immune to inflation, financial crises and credit default. Topically, periods of negative real interest rates are thought to support the demand for gold, because the opportunity cost of holding gold decreases when real interest rates fall. Weak dollar has also been seen to drive up the price of gold. [Read more...]

NFP + 80,000, Unemployment 8.2%

  • June Non-Farms Payroll prints at +80,000 on expectations of +100,000

Jim Cramer. “I trust Gold, I don’t trust Paper!?!”

Paper pushing, flip/flopping Jim Cramer of Mad Money took a letter tonight from a follower of his show concerning diversifying assets into Gold.  With CNBC ratings falling faster than a Pre-FOMC silver smash, perhaps CNBC executives have advised Cramer to seek investment information from legitimate sources such as Zerohedge and SD.

“Alright, Here is one from Schultz in Arizona.”

“Hey Schultz!”

Question: Jim, How much gold should I hold as a % of my portfolio? [Read more...]

Australia and China Strike Another Nail into the US Dollar for Independence Day

In a move that has slipped under the radar of even the alternative financial media, China celebrated Independence Day by handing the US Dollar’s reserve currency status another severe flesh wound.
China moved Wednesday to make Australia the first G20 nation with the ability to directly convert its currency into Chinese yuan, bypassing the US dollar.

The writing is on the wall for the dollar’s reserve currency status.

Australia is hoping to become the third country in the world to be able to directly convert its currency into Chinese yuan. [Read more...]

Turd Ferguson: LIBOR is Manipulated & Silver Isn’t? Are You Kidding Me!?

In this explosive interview focusing on the metals, The Doc & TF discussed the massive reduction in the cartel’s net short position in silver, the LIBOR manipulation scandal, the new downturn in the US, the manipulation of ALL markets, and physical supply issues with gold and silver.

Full MUST LISTEN interview and transcript below: [Read more...]

Matt Taibbi on LIBOR Scandal: The Mob Learned From Wall Street

Matt Taibbi, Rolling Stone contributing editor, and Dennis Kelleher, president and CEO of Better Markets, analyze the Libor interest rate-rigging scandal engulfing the banking industry with “Viewpoint” host Eliot Spitzer.  Like TF stated in our interview this week- ‘ALL MARKETS ARE MANIPULATED! LIBOR is Manipulated, & Silver Isn’t? Are You Kidding Me?

Taibbi states: ‘LIBOR is like the sun at the center of the financial universe. If they’re monkeying around with LIBOR… this is like finding out the whole world is built on quicksand because LIBOR is in EVERYTHING!!

MUST WATCH!! [Read more...]

Yahoo Finance Reports Gold, Oil, Down 100%

Yahoo Finance published a bankster’s wet dream Wednesday, reporting on it’s main page that gold and oil were both down 100%.

Every other market (NASDAQ, DOW, 10-year, and EUR/USD) was reported accurately, yet the YF main page lists oil -$87.66, -100%, and gold -$1,621.80, -100%.

Screen shot below: [Read more...]

JPMorgan Probed Over Potential Power-Market Manipulation

Bloomberg reports JP Morgan is being investigated over manipulation of the power market.
We’ll refrain for electrical current jokes involving silver.
At this point, what does JP Morgan NOT manipulate?? ALL MARKETS ARE MANIPULATED!!!

 

JPMorgan Chase & Co. is being investigated over potential power-market manipulation that inflated payments for electricity, according to the U.S. Federal Energy Regulatory Commission.

JPMorgan Chase & Co. (JPM)’s refusal to turn over e-mails in a federal probe of potential energy-market manipulation is the latest challenge for Chief Executive Officer Jamie Dimon as the bank faces multiple investigations. [Read more...]

Denmark Launches NIRP, Slashes Rates to Negative 0.2%

The ECB refrained from taking rates to negative territory this morning, but the Danish Central Bank has joined today’s global devaluation, becoming the first nation to institute a NIRP (negative interest rate policy), slashing certificate of deposit rates to -0.2%.
It won’t be the last.
QE to Infinity….AND BEYOND!!!

Full release below: [Read more...]

LIEBORGATE: A Picture (Chart) Worth 1,000 Words

clip_image003Any guesses on the exact time that the Fed, ECB, and Bank of England gave our favorite TBTF CEO’s the orders to make up their own LIBOR statistics rather than reporting their real borrowing rates?

Perhaps the LIBOR chart will assist you: [Read more...]

Trouble for Barrick: Argentina High Court Lifts Glacier Law Suspension

Regular SD readers will remember SD contributor SRSrocco’s recent article highlighting Barrick’s 200 million ounce silver problem with it’s Pascua-Lama mine.
Barrick’s problems at Pascua-Lama took a sharp turn for the worse Tuesday, as Argentina’s Supreme Court reversed a lower court ruling suspending an Argentinian glacier protection law.
Silver Wheaton is waiting for their phyzz, and it doesn’t look like a single ounce is coming out of Pascua-Lama anytime soon.

 

Argentina’s Supreme Court has reversed a lower court ruling that suspended a glacier protection law in mining-friendly San Juan Province, threatening to derail several multi-billion-dollar mining projects. [Read more...]

Gold & Silver Raided as BOE Prints £50 Billion, ECB Slashes Rates

Live 24 hours gold chart [Kitco Inc.]The cartel raided gold and silver just prior to the COMEX open this morning, as once again (last seen with the $50 gold smash 5 minutes prior to the Swiss National Bank devaluation of the CHF) gold and silver have been smashed counter-intuitively immediately prior to new massive easing.

The Bank of England announced £50 billion in new QE this morning, the ECB slashed rates 25 basis points, even the Peoples Bank of China slashed rates, and GOLD AND SILVER GET HAMMERED! [Read more...]

Gold Drops After ECB Cuts Rates to Record Low

The ECB has cut the main refinancing rate to record low of 0.75%. Gold dropped sharply immediately following the announcement, but is currently rising again.

Gold is trading at $1603.75/oz. Analysts from Standard Bank in London say that a rate cut implies a lower real interest rate, which ultimately is bullish for gold. Gold’s fundamentals have not changed. [Read more...]

Doc’s Deal: 10oz NTR Bars As Low As .74 Over Spot!!

Doc’s Deal Of The Day

 

10 oz NTR Bars

AS LOW AS 74 CENTS OVER SPOT [Read more...]