If it is fall, it must be conference season in Colorado. The Denver Gold Forum, held Sept 22–25, was an invitation-only event billed as featuring seven-eighths of the world’s publicly traded gold and silver companies measured by production. It was preceded by the Precious Metals Summit in Beaver Creek, which focused on smaller, emerging companies, some 90 of them with market caps of at least $20 million. Attendees included analysts, fund managers and institutional investors eager to hear updates on companies they own—or may want to own in the future. The Gold Report Publisher Karen Roche and Associate Publisher Jason Mallin were there and brought back these reports.

silver bullet silver shield sbssThe Silver Bullet Silver Shield’s Chris Duane responds to claims that buying silver was the stupidist move I ever made by reviewing the fundamentals and what has transpired in the markets in the 5 years since the Lehman collapse.
Will you be worried about a fiat price correction in 2013 if the entire system collapses?

The Algerian government has ramped up spending to ward off unrest, helping drive inflation to a 15-year high last year, and pushing Algerians into the currency and real estate markets as they seek to shield savings.
“To protect themselves against inflation, and therefore the devaluation of the dinar, Algerians are investing in property, gold and foreign currencies,” Abderrahmane Mebtoul, a professor of economics at the University of Algiers, said in an interview.  “It is a way of looking for security.”
Inflation and currency devaluations being seen in the developing world and emerging markets today are a warning sign and a small taste of what will be seen in western economies in the coming years as currency devaluations and debasement continue.

Perhaps “bubblehead” is a little harsh.  In truth, Maria Bartiromo is in fact quite smart.  But after watching the following video, I’m reminded of a classic observation by Upton Sinclair:  “It is difficult to get a man to understand something, when his salary depends on his not understanding it”  –  or, in this case, woman.

WyckoffGold stocks are inarguably the most-hated stock sector on the planet these days.  After they spent 2013’s first half plunging precipitously, investors have left them for dead.  Even most former contrarians who earned vast profits in gold stocks over a decade have gone ostrich.  This is a terrible mistake, as the best times to buy low are when sectors are universally loathed. 
Peak bearishness occurs right before they soar.

cartelThe great global Paradigm Shift involves far more than wealth migrating from West to East in the form of Gold bullion. The corruption among the Wall Street bankers, the Chicago pit commodity traders, and the London bankers is all playing out in the COMEX & LBMA fall from grace.
This article should add a good deal more light on the phony USTreasury Bond market which is not well understood for its status as being the greatest asset bubble in human history, not just modern history. It exceeds the housing & mortgage bubble that formed a decade ago, if not from volume, then from scope since it is laced throughout the entire global banking system.
The USGovt shutdown is blatant evidence of the march to the cliff.
The global USTBond dumping, combined with some diversification from sovereign bonds to gold bullion, aggravated by Indirect Exchange, will continue to put great pressure on the USFed to maintain the bond equilibrium charade. The volume of USFed monetization is going to rise from all these negative factors at work. In 12 months, it will be clear.

The climax blow will be the conversion of USTBonds and EuroBonds and UKGilts and JapGovtBonds into Gold bullion that kills the current system and opens the door to the new system. With great disruption, the new Paradigm Shift is in progress, unstoppable, but offering hope for a better day, a better system, a more fair system, with participants and savers given a just system. For three decades, Gold has had a nemesis in the USTreasury Bond. The USTBond is dying, a wreck in progress As the old pillars fall and the new pillars rise, The Price of Gold will be set free.
It is writtenIt shall be done.

Play

no deliveriesOn this week’s Metals & Markets, The Doc & Eric Dubin discuss:

  • Government Shutdown shenanigans & bickering- is a default possible on Oct 17th?
  • Gensler out as CFTC Chairman, while Bart Chilton says if you want safe, secure, efficient, and effective markets, you’ve got to keep the CFTC on the job!
  • Gold smashed again on a large delivery month- banksters desperate to to slow the bleeding of physical gold?
  • Outlook for the metals in light of looming debt ceiling hard deadline

The SD Weekly Metals & Markets with The Doc & Eric Dubin is below!:

The launch of Obamacare has been a complete and total nightmare so far.  The “online exchanges” are constantly crashing, there are endless glitches and delays, and many of the people that actually have been able to successfully register for an account are discovering that health insurance premiums under Obamacare are far higher than what they are used to paying.  In fact, some Americans that have had their old policies canceled by their insurance companies are discovering that their health insurance costs will double or even triple under Obamacare.  What a great “success”, eh?  Under Obamacare, Americans are going to pay more for health care, they are going to have more limited health care options, they are going to be subjected to much more paperwork, and if they choose not to participate in the system they are going to be hit with very punitive fines.  What’s not to like?
Despite all of the negatives, a lot of Americans were actually looking forward to October 1st.  Millions of Americans rushed to the “healthcare exchanges” to get signed up for health insurance.  But what they discovered was that the websites were not ready and were constantly crashing.  The system has been so bad that very few people are actually signing up for ObamacareSo far, less than 1 percent of all visitors are actually signing up for health insurance. 
The following are 21 of the best comments that have been posted on the official Healthcare.gov Facebook page so far…

lucyDoc,
I want to start by saying thanks for all of your hard work. And I also want to thank you for responding to my notes on occassion.
Unlike many people we have everything in silver. The bad news is that we need to sell it to live of off. Due to health concerns we moved to Ecuador and have had a tough time trying to decide when to sell a batch of silver so we can live.
I don’t know if you read Martin Armstrong but he appears to be correct on gold quite a bit. He is still calling for lower lows in his latest article.

Again, the bad news is trying to decide when to sell a little silver so we can live. Do you see any truth in this Armstrong article? And do you beleive that these thugs can/will take silver to the low teens before it gets better? Just curious about your thoughts because most people do not want to throw water on the smoldering fire.

ChiltonBart Chilton provided Friday humor a little early yesterday on Bloomberg: “If you don’t want consumers protected, fine, fire us all, shut us down.
If you want the markets safe, secure, efficient, and effective, that helps markets and consumers, you’ve got to keep us on the job.”

Chilton’s full Bloomberg interview on why strong regulators (an oxy-moron if we’ve ever heard one) are needed is below:

chinese gold rushTracing the Great Chinese Gold Rush.
China is taking over the world one gold bar at a time as this new world superpower reacts to years of being on the receiving end of the US dollar and Fed money printing.
In the MUST SEE infographic below, learn how in the space of a few decades, China has opened up her huge gold market, which is now hungrily devouring the world’s gold.

City of London School JP MorganIn the latest Keiser Report, Max Keiser and Stacy Herbert discuss the Lilliputian view on fraud and theft and how this applies to the chief banking knaves at JPMorgan. In the second half, Max interviews Marc Armstrong of PublicBanking.org about turning depositors into shareholders as a fraud recipe shared amongst the Too-Big-To-Fail banks. With public banking, interest is returned to the economy from whence it came.

Gensler

H. Darr Beiser USAT

The WSJ is reporting that Goldmanite Gary Gensler has declined an invitation from President Obama to serve a second term as CFTC Chairman, and will leave the CFTC by the end of the year.
Apparently Goldman no longer needs their man at the CFTC now that the agency’s 5 year “investigation” into silver market manipulation has been put to rest.

gold bear market cnbcYesterday’s auto sales report for September – led by GM’s 11% plunge in sales and incredible bloating up of dealer inventory levels – confirms my view that the economy is tanking.  
The dollar has lost the 80 level.  The world isn’t buying into the story being reported in the media by Wall Street and the President that the economy is improving.

Commenting on the elements that suggest a coming October black swan surprise, Rick Rule said, If ever there was a set of circumstances that came together that would give an asynchronous event the ability to take the financial system off the rails again, it would be this month…the dysfunction of the US congress with regards to the spending authorizations and the upcoming problem with regards to the debt ceiling, and the fact that those occur…[during] a psychologically important month raises the specter in everybody’s mind…of a black swan event that takes down all markets and drives everybody to respect liquidity.”
In terms of how he’s preparing for such a panic event, Rick said, For the balance of this month, I am in cash, cash, cash, and cash.
Is an October financial panic dead ahead?  Rick Rule’s full thoughts are below:

All of this whining and crying about a “government shutdown” is a total joke.  You see, there really is very little reason why this “government shutdown” cannot continue indefinitely because almost everything is still running.  63 percent of all federal workers are still working, and 85 percent of all government activities are still being funded during this “shutdown”.  Yes, the Obama administration has been making a big show of taking down government websites and blocking off the World War II Memorial, but overall business in Washington D.C. is being conducted pretty much as usual.  It turns out that the definition of “essential personnel” has expanded so much over the years that almost everyone is considered “essential” at this point.  In fact, this shutdown is such a non-event that even referring to it as a “partial government shutdown” would really be overstating what is actually happening.  The following are 36 facts which prove that almost everything is still running during this government shutdown…

Stop worrying about the IRS or the NSA stealing your information. From now on we will hand it over to the government voluntarily.
If the IRS or NSA scandals involving misuse of private data were troubling, consider the implications of the new information databases created in the name of health care.  The newly-launched Affordable Care Act creates a massive electronic registry of private information that is accessible to bureaucrats in agencies ranging from the Internal Revenue Service to the Department of Homeland Security.
To facilitate this forfeiture of individual privacy, the Department of Health and Human Services has created a massive, comprehensive database to record and store Americans’ personal information called the Federal Data Services Hub.  The Government Accountability Office (GAO) reports that the purpose of the Data Hub is to provide “electronic, near real-time access to federal data” and “access to state and third party data sources needed to verify consumer-eligibility information.”
No longer will any of our intimate medical details be reasonably considered either private or protected.
Click here for more on HHS’s new Data Services Hub from The News Doctors:

fiat cliffPrecious metals expert David Morgan says, “You cannot print yourself out of this mess that we are in. We have a massive debt problem, and the only solution they can come up with is ‘add to the debt.
That will not fix the problem.” Morgan goes on to say, “The problem is the money will become worth less and worth less and nearly worthless at some point in time.” Anyone who thinks this can go on for another decade, think again. Morgan figures, “We’re getting very close to the edge.” Morgan adds, “There’s a limit as to how much money you can print and still have an effect . . . We’ve reached the limit.” Morgan predicts, “I do not see hyperinflation, I see more disruption or currency crisis. You don’t have to have hyperinflation to have a currency crisis.” Even though Morgan doesn’t see hyperinflation, he contends gold and silver prices will head much higher. He sees the true price of gold right now “between $5,000 and $7,000 an ounce” and silver at “$100 per ounce.” Morgan predicts, “I think there is going to be a day in the future that you just can’t get it. The only monetary asset outside of counter-party risk is physical gold and silver.” Join Greg Hunter as he goes One-on-One with David Morgan.

Bernanke-Dimon-Fed-TunnelFebruary, April and June were Comex delivery months that saw the price of gold get hammered. August was a delivery month that saw the price of gold rally. October is a delivery month and gold is getting hammered again. What’s the difference?
I think at this point it’s safe to say that we’re onto something.