Gold and Silver Continue EXPLOSIVE MOVE HIGHER, Target Close of $1700 and $32

Perhaps we missed Bernanke’s official announcement of QE3 today, because the metals sure are trading this afternoon like The Bernank just officially announced $3 Trillion of asset purchases.

Gold and silver have accelerated their rise during this afternoon’s electronic access market trading, with gold within a hair’s breath of a weekly close above $1700 with a last of $1694.20, and silver nearing $32, up nearly 5% on the day to $31.88!

Folks, with Jackson Hole now in the rear-view mirror, the gold and silver train is getting ready to leave the station. [Read more...]

Susanne Posel- Keep Your Money In This System & LOSE It All

Our friend Sean of SGTReport.com has brought on writer & researcher Susanne Posel of occupycorporatism.com to discuss recent court rulings declaring it LAWFUL for banks to use YOUR money to pay THEIR debts and bad bets. It’s all in place now with legal precedent, so if you lose your money to these banks in the future, just remember YOU WERE WARNED.

Susanne also explains that the global “Elite” don’t really ultimately care about your “money”, they PRINT the stinkin’ money! What they are really after is our SOVEREIGN debt and the land of our entire nation; ALL tangible wealth pledged to them, FOREVER. [Read more...]

12,000 SOUTH AFRICAN GOLD FIELD WORKERS GO ON A WILDCAT STRIKE

GRONINGEN (MINEWEB)-

 Approximately 12,000 employees at Gold Fields’ KDC East mine embarked on an illegal strike on Wednesday night, the gold miner announced on Friday.

In an emailed statement, the gold miner said, to date, two night shifts and two day shifts (including Friday) have been lost. [Read more...]

Gold & Silver Going VERTICAL After Cartel Raid As Humans Interpret Bernanke’s Remarks as QE3 is Imminent

Gold and silver have just EXPLODED VERTICALLY after the immediate raid as Bernanke’s speech began!

Silver to $31.32, and gold to $1672!

It appears every SD reader simultaneously attempted to STACK THE SMACK at 10am!

In reality, it appears the HFT algos instantly interpreted Bernanke’s remarks as no QE, then everything spiked 20 minutes later as the humans digested Bernanke’s remarks that QE3 is necessary, and that the evidence is clear that the benefits of QE outweigh the costs.

Human interpretation: Official QE3 is imminent either in September or December
[Read more...]

BERNANKE DISAPPOINTS! Full Text of Bernanke’s Jackson Hole Speech

Bernanke:

  • Economic situation is obviously far from satisfactory
  • the bar for the use of nontraditional policies is higher than for traditional policies
  • Monetary policy cannot achieve by itself what a broader and more balanced set of economic policies might achieve; in particular, it cannot neutralize the fiscal and financial risks that the country faces
  • Fed will boost accommodation as needed for growth
  • Substantial further expansions of the balance sheet could reduce public confidence in the Fed’s ability to exit smoothly from its accommodative policies at the appropriate time

 

Commence the cartel metals raid

Bernanke’s Full Jackson Hole speech below:

[Read more...]

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1oz Silver Buffaloes, Any Quantity 99 Cents Over Spot!!

2012 Silver American Eagles, Any Quantity $2.79 Over Spot!!

2012 Silver Maples, Any Quantity $2.29 Over Spot!! [Read more...]

Metals Popping Ahead of Bernanke’s Speech

Gold and silver are both strong this morning ahead of Bernanke’s 10am Jackson Hole speech, with silver beginning it’s move higher at approximately 2am EST, working strongly higher throughout the Asian and London session, and then popping nearly to $31 on the COMEX open.

This can mean one of two things: [Read more...]

Ron Paul Renounces GOP As Keynesians, ‘NOT HIS PARTY’- Independent Run Imminent?

Headlines coming across the wires ahead of Bernanke’s speech indicate Ron Paul has just renounced the GOP, calling the party Keynesians and ‘NOT HIS PARTY‘.

 

  • *REP. PAUL SAYS BOTH PARTIES KEYNESIANS, GOP ‘NOT HIS PARTY’
  • *REP. PAUL SAYS FED PRICE FIXING
  • *REP. PAUL SAYS FED FLOODING MARKET WITH MONEY [Read more...]

August 2012: Gold and Platinum Up 2.7% And 6.4% While Silver Surges 9%

Gold is hovering today near the 4 ½ month high hit during the week as investors await the US Fed Chairman Ben Bernanke’s speech at 1400 GMT from the Jackson Hole Symposium.
Bullion will benefit as an inflation hedge if Bernanke announces more bond buying and additional monetary stimulus measures for the US economy. However, there is the real possibility that Bernanke merely hints at more QE again today prior to launching QE in September.
Bernanke is likely to wait for the August US jobs data due next week and use that as the reason to announce further QE and money printing measures at the Fed’s policy meeting on September 12-13.
Bernanke merely hinting at such measures today could result in a bout of risk off that sends equities lower and the precious metals lower – in the short term.

Gold has been gradually trending higher over the traditionally weak summer months. It is on track for a nearly 3% gain in August (see table above), continuing its 3rd consecutive month of gradual gains. This sets gold up for a strong few months ahead in the traditionally stronger autumn months.
Silver surged 9% in August and is also well positioned for the autumn months when it tends to move higher with gold. The gold silver ratio at 53 remains favourable to silver and we believe it could revert to levels closer to 30 again in the coming weeks and again outperform gold. [Read more...]

Jim Grant: The Fed Needs to Get Out of the Central Planning Business & Stop Manipulating the Economy

The Fed’s biggest opponent this side of Ron Paul was on Bloomberg this morning discussing the failed policies of the central bank, it’s original intentions, and what he would do if he were appointed Fed Chairman.
In the MUST WATCH interview, Jim Grant states that the Fed ‘Needs to get out of the central planning business. The Fed was organized in 1914 and opened its doors to conduct a more or less traditional central banking business, meaning it would lend against good collateral to solvent institutions in times of cyclical or seasonal need. It would defend and protect the gold dollar. That was all that its original remit contained. Fast forward many decades, and we see the Fed in the business of steering, guiding, manipulating the economy, financial markets, the yield curve. It manipulates and pegs interest rates. It is all over the joint doing what failed in the old eastern bloc.

Jim Grant on the Vampire Squids of Vampire Squids, the Federal Reserve:

[Read more...]

Ezra Klein on Reinstitution of Gold Standard: ‘That’s A Clown Idea, Bro’

Liberal WashingtonPost blogger Ezra Klein who earned himself a spot in SD’s Hall of Shame in January when he bashed gold stating that the metals is worthless because not only can you not eat it, but you also cannot build your house with it or use it as ammunition, is back at it again.

Commenting on the Republican Party’s announcement last week of a Gold Commission to look into the return of a gold standard in the US, Klein states that the policy isA Clown Idea, Bro‘.

Actually we happen to agree that a gold standard is ‘a clown idea, bro‘, but not for the reasons Klein has in mind.  What we actually need is not a gold standard, but the return a bi-metallic gold AND SILVER standard.

As you might guess, Klein has a different reason for calling a return to a gold standard ‘a clown idea.   [Read more...]

South African Marikana Miners Charged With Murder Over Colleagues Gunned Down by Cops

South Africa is doing it’s best USSA impersonation imaginable. The whole world watched in horror last week as reporters filmed police un-provokingly opening fire into the crowd of striking miners, murdering 34.
Not only have the offending officers enjoyed Jon Corzine-like immunity, the BBC reports today that South African authorities have taken the shocking step of CHARGING ALL 270 SURVIVING MINE WORKERS WITH MURDER over the police-inflicted deaths of their colleagues.

Don’t think for a moment such an action can’t/won’t occur stateside as the fiscal/debt crisis intensifies.

Workers arrested at South Africa’s Marikana mine have been charged in court with the murder of 34 of their colleagues shot by police. [Read more...]

Everything You Need To Know About The September 12 German Court Decision That Could Rock The Entire World

While everyone is focused on Bernanke and Jackson Hole Friday, the real decision that will affect QE to INFINITY AND BEYOND!!! will be made by the German Constitutional Court on September 12.

The eurozone is running out of bailout cash, and the German Constitutional Court now holds the fate of Europe in its hands. [Read more...]

TOP 10 REASONS TO BUY SILVER

Drum-roll please….
In no particular order, the top 10 macro-economic and fundamental reasons to buy silver: [Read more...]

Exclusive Video Surfaces of Bernanke Departing for Jackson Hole | Morgan Stanley Collapse Imminent?

In today’s Animated Metals Update we update the recent Metals movement, we discuss the rumors circulating about Morgan Stanley and we reveal an exclusive secret/surprise video of Federal reserve Chairman, Ben Bernanke as he catches his flight to Jackson Hole Wyoming. Ben really likes jelly donuts. [Read more...]