*Updated 4pm EST with notice to customers from National Bank of Panama’s website
This morning the National Bank of Panama announced that it was suspending all services until Tuesday the 1st of October.
The National Bank of Panama claims that the reason for the 5 day bank holiday is to upgrade systems.
The Clave (Debit Card) system has been taken offline. No wire transfers between banks and internationally until the 1st of October.
This system wide shutdown has country wide implications. The National Bank of Panama did not warn the people before making the announcement and shutting down the banks. The people do not have access to ATM’s either. We received word of this from family members first. This weekend is payday for people across Panama.
Is the next Cyprus-style bankster bail-in about to be implemented in Panama?

bankstersIn this MUST WATCH interview with Sprott’s Ask the Expert, silver analyst Ted Butler discusses how JP Morgan inherited Bear Stearns massive short gold and silver positions in early 2008 at the request of the US Treasury Department, and makes the case that requesting JP Morgan inherit Bear Stearns’ positions should not have been a license to steal and freely manipulate the gold and silver markets.
Ted Butler’s full Ask the Expert Q&A session is below:

dollarFor most of his 40 years in the finance industry, Alasdair MacLeod has been de-mystifying macro-economic events for his investing clients. The accumulation of this experience has convinced him that unsound monetary policies are the most destructive weapon governments use against the common man.
Alasdair believes one of the major consequences of unsound monetary policies will come in the form of a currency crisis as soon as this winter.
Alasdair discusses his views on how this crisis may unfold and how you can protect your wealth from its destructive impact.

empire revoltThe USTreasury Bond market breakdown is in progress, all part of the general USDollar global rejection that is taking the world by storm.
The USFed, the USGovt, and the Big US Banks urgently needed to stop the move in the 10-year bond yield (aka TNX). They needed to prevent a move above 3.0% on the USTreasury yield. They needed to avoid a calamity with both Interest Rate Swaps and USTBond carry trade reversals. They needed to avoid a trigger of sell stops. They needed to prevent the rest of the world selling off USTBonds within their reserves management systems, the foundation of their national banking systems. So the USFed and Big US Banks called upon themselves to place artificial high bids on USTBonds sold among themselves in a circle jerk of Flash Trading. They pushed the TNX below 2.9% quickly in the corrupt process. USFed Chairman Bernanke then backed off the Taper Talk threat, and the USTBonds rushed in a pathetic rally. The Jackass forecasted his retreat exactly, a bluff after a failed trial balloon. The bankers then resorted to the hidden work of computer algorithms. They altered the constructive dynamics of the bond market. They corrupted it one deeper level. The Flash Trade defense is pathetic, and will be revealed in coming weeks.
The bond market has converted into a Flash Trading arena within the bank syndicate to maintain bond prices. This is an explosive development, indicative of unsustainable sovereign bond prices kept up by round robin marked by internal sales within the Federal Reserve banks themselves.
The USTBond market is broken, and the USDollar cannot be defended.

goldBefore the US stopped minting silver coins, the worldwide supply of above-ground silver was approximately nine (9) billion ounces, thanks primarily to the Comstock Lode.
Since that time, silver has been consumed at a phenomenal rate (as you have covered exhaustively in countless articles) until today roughly one (1) billion ounces remain above ground. In contrast, virtually all gold ever mined still exists (approximately 175 metric tons).
So, let’s do the math: 175 metric tons equals 6.1 billion ounces. That means that gold is six times more available than silver, or in other words “SILVER IS SIX TIMES MORE RARE THAN GOLD” when you are talking about physical, hold-it-in-your-hand form – which is really how anything is valued by a marketplace or individual…especially in a crisis.
In the coming economic crisis, for a brief period Silver prices could possibly elevate until they are ON-PAR with Gold.

sprottMoney manager Eric Sprott was not surprised by the Fed announcement to keep printing $85 billion a month. Don’t expect the money printing to end anytime soon because Sprott predicts, If my forecast for the U.S. economy is true, they will be doing it forever.”
When the Fed first started taking about cutting the money printing, Sprott points out, “It was a great excuse to bomb gold, and now that’s off the table. I think we will see people moving into gold (and silver) . . . The U.S. dollar is under incredible pressure here.” Sprott, who manages $8 billion in precious metal investments, goes on to say, “I can guarantee you the U.S. government is insolvent today, but they’re just not doing anything about it. So, when they finally do something about it, instead of cutting entitlements 25% or 40%, just like Detroit, it will be 75%.” Sprott goes on to say, “ We’re buying more bonds on a daily basis, and rates still went higher, which is why I can definitively say the Fed lost control of the bond market. That is why they could not ‘taper’ because who’s going to buy all the bonds? Bonds are for losers.” Join Greg Hunter as he goes One-on One with the CEO of Sprott Asset Management, Eric Sprott.

Blythe Masters Jamie Dimon

Many silver investors were shocked this week when the CFTC closed its investigation into silver market manipulation without filing a single charge.
If the manipulation is as blatant as it appears, and has been going on for as long  as some of us believe, the only conclusion that can be made is that the enforcement agencies are either in on the act or are willfully turning a blind eye to questionable or criminal activities.

The Federal Reserve decision to refrain from a QE taper is very bullish for gold.
‘Tapering’ may be put off indefinitely due to the very fragile state of the massively indebted U.S. economy. This means that interest rates must be kept low for as long as possible, leading to money printing and electronic money creation on a scale never before seen in history.
This will inevitably lead to higher gold prices – the question is when rather than if.

AFP Photo/Paul J. Richards

Some 44 kilograms of gold bars from an overall cargo of 300 kg of precious metal have mysteriously disappeared from a flight bound to Zurich. An insider operation could be to blame for a €1.5 million heist at Paris’ Charles de Gaulle airport.

France’s national aviation police (GTA) is now investigating how and by whom the gold was stolen from the aircraft, after Air France said it had filed a complaint with police.

economic collapseCAUTION! Before you continue…

  • If you believe that total government debt can grow FOREVER and more rapidly than the underlying economy, this article is NOT for you.
  • If you believe that governmental deficit spending, QE, and bond monetization can continue FOREVER without major consequences, this article is NOT for you.
  • But if you are sane enough to know that our current economic policies will produce a “train wreck,” read on…

Within a millisecond of the 2pm release of the September 18, 2013 FOMC Meeting Announcement, the stock market exploded, trading nearly $400 Million worth of stock in a tenth of a second (a blink of an eye is 3 times longer), and almost $1 Billion worth in 2 seconds. Over in Chicago, futures trading also exploded, with about $5 Billion trading in a tenth of a second and more than $10 Billion in 2 seconds. The speed of this reaction stood out in stark contrast to previous FOMC (Federal Open Market Committee) releases. To get a sense of how unusual the September 18 reaction was, we pulled data from the two previous FOMC releases (June 19, 2013, and July 31, 2013) for comparison. It’s hard finding superlatives to describe just how unique September 18 was.
A few articles covering this are focusing on trading in Gold. We singled out gold, is because it was one of the few instruments with high activity in the minutes before the 2pm announcement. This high activity preceeding the release allowed us to verify that the exchange time stamps we used later, were accurate.
It wasn’t just gold. It was everything that traded. In fact, the 1/100th of a second after 2pm was the most active 10 milliseconds in the history of the U.S. Stock an Futures markets.

asian gold demandThe gold price continues to decline, albeit modestly. Many gold investors are rightfully frustrated, after watching gold stocks give up all their “no taper” rally gains.
The key issue causing this situation is comex gold options.  Gold expiration day was yesterday, September 25.
Gold often tends to decline as options expiry approaches, and I think that is the main short term price driver of gold right now.
In the big picture, Chinese & Indian demand is probably the most powerful driver of higher gold prices. It’s important not to make decisions that affect your long term core positions, using events like “options expiry day”.

*Updated 11pm EST 9/25*
Well, that didn’t take long.  After Andrew Maguire went public last Friday that the CFTC is holding evidence that JP Morgan manipulated the gold and silver markets, moments ago the CFTC announced it is closing its 5 year investigation into silver market manipulation, and that after 5 years of investigation the CFTC has found:

“Based upon the law and evidence as they exist at this time, there is not a viable basis to bring an enforcement action with respect to any firm or its employees related to our investigation of silver markets.”
Something tells us Mr. Chilton won’t be releasing any contrary statements by the end of September as promised either.
Let the manipulation continue indefinitely until the last ounce of physical gold and silver are removed from COMEX vaults!

In response to the continued Fed mismanagement and growing world currency war, it’s becoming clear according to Jim Rickards, that, “[Countries] want physical custody of gold…[they’re] positioning for the day when there’s a massive loss of confidence in paper moneyYou’re seeing it with massive acquisitions of gold by Russia and China taking place through channels that bypass the London Bullion Market Association…They’re buying mines in Western Australia. They’re having the ore refined right there in Australia at the Perth Mint, and then shipping the gold straight to Shanghai. They’re completely bypassing the London market where they minimize their market impact, which is a smart move. That’s what you would do if you were trying to buy gold and not run up the price. You would do everything in secret and that’s what’s going on.”

While many still question the validity of gold, Jim notes that, When the international monetary system collapses and it comes time to rewrite the rules of the game and create a new system…[it’s] going to be [all about] how much gold you have.

haircut bail-inNow that “bail-ins” have become accepted practice all over the planet, no bank account and no pension fund will ever be 100% safe again.  In fact, Cyprus-style wealth confiscation is already starting to happen all around the world.  As you will read about below, private pension funds were just raided by the government in Poland, and a “bail-in” is being organized for one of the largest banks in Italy.
Unfortunately, this is just the beginning. 

COMEX GOLD new Low 92413It looks like the stagnate two month bottom in the Comex Gold inventories is now over as a huge withdrawal from HSBC has taken the total warehouse stocks to a new low not seen since 2006.
173,358 oz of gold were withdrawn from HSBC’s Eligible category.
This single withdrawal was so massive that it would have totally wiped out Brinks, HSBC, Scotia Mocatta, and most of JP Morgan’s Registered inventories.

Jamie DimonI was approached in April 2012 by 2 JP Morgan employees, both of whom said look, we’ve got evidence that back up (manipulation) – the same period of information that you’ve publicly disclosed.  They submitted a formal submission to the CFTC. That was done in June 2012– well over a year ago! …
The Fed is now just the world’s largest hedge fund.  There are now no more markets.  As Chris Powell coined the phrase, There are no markets anymore, just interventions.
What absolutely amazes me is when you have actual evidence provided by a firm that is known to be manipulating other markets- energy markets, other metals markets, & the CFTC who are supposed to be the regulators has actual evidence of manipulation in their control, and over a year passes and I see and hear nothing!
The whole reason is alot of these interventions are obviously sanctioned by someone very high.  Its got to be the Fed or the Bank for International Settlements!

Andrew Maguire’s full MUST WATCH interview on the Keiser Report disclosing 2 JPMorgan whistle-blowers & the CFTC’s sitting on the evidence is below:

Source: Chip Somodevilla/Getty Images

Source: Chip Somodevilla/Getty Images

The Federal Reserve is “concerned about suspiciously heavy trading of gold futures” after its meeting last week, that may have been triggered by a premature release of market sensitive information according to Associated Press.
In a statement, the central bank said that news organizations that receive embargoed information from the Fed agree to withhold information until the time set for its release. The Fed statement said, “We will be conducting follow-up conversations with news organizations to ensure our procedures are completely understood.” (Editor translation: Of course the banks are aware of the FOMC decision prior to the release. Those bas*ards at Nanex caught us.  We will ensure future insider trading is less likely to be caught).
Two hours prior to the Federal Open Market Committee (FOMC) release, gold was trading below $1,300/oz but started to gradually tick higher prior to surging higher on heavy volume, minutes prior to the release of the FOMC statement.
FX markets, stock, bond and commodity markets did not see similar large moves.

Play

gold crashIn his most explosive interview with SD ever, CEO of Sprott Asset Management Eric Sprott discussed his thoughts on the Fed’s no-taper, why he believes the cartel took down gold this spring, the evidence that a bail-in is coming to the US and Canada, and the US fiscal debt crisis.
Sprott stated the Fed could not taper QE because it has lost control of the bond market!
We have never printed on a daily basis more than we are printing right now, and all the while, interest rates doubled!   Just the talk of tapering moved the rates significantly higher.  I happen to believe that they have lost control of the bond market Just by talking the talk the rates doubled and if they walked the walk, I think we would see a dramatic increase in rates here and severe carnage in the bond market.

Sprott went on to claim that the paper gold market was crushed by the Western Central banks this spring in order to free up gold supply from the ETFs as a massive gold shortage threatened the banking system, and that this is a battle the Western Central banks are doomed to lose as global physical demand will soon overwhelm Central bank supply.

Eric Sprott’s EXPLOSIVE INTERVIEW with The Doc covering tapering, the motive behind the PM take-down, and much more is below: