*With the horrible tragedy transpiring this week along the East Coast in the wake of Storm of the Century Sandy, and reports of massive shortages of food, gasoline, and basic necessities, we thought it apropos to bring back AGXIIK’s exhaustive prepping manual.  Are you prepared for a collapse of the grid and the banking system, along with the just-in-time delivery system?

Prepping is partly buying a grocery list of items you need to stock, as well as a mind set that moves beyond the physical act of getting supplies in the cupboard. Stocking up is a great place to start. Stocking also buys you invaluable time to assess situations as they crop up while keeping you safe.

Preppers have a situational awareness of what might affect them in unexpected ways and unpredictable directions. Every plan comes unglued when it encounters the real world so having backups to your plan will smooth your way to safety.
Some of those are in this short guide.
Without these plans the alternatives are always less than optimal.

According to NetDania’s volume (which approximates volume from 5 separate sources and is not an exact indicator of volume data)  38,400 contracts, or 191.99 million ounces of paper silver (nearly a quarter of annual global silver production!) were dumped on the market in only 10 minutes between 8:30 and 8:40am EST upon the release of the NFP data.

Screen shot of the paper dump (with 3rd wave of attack in progress) below:

By SRSrocco:

Well, it looks like Nov 2nd, will go down as another LOUSY day in the PAPER TRADING of the precious metals.  I stopped worrying about the short term moves and instead have spent my time researching the medium and longer term implications in the gold and silver mining industry.

Meanwhile, it looks like things have gone from BAD to WORSE for BARRICK as the major gold producer now has a NEGATIVE FREE CASH FLOW.  In the first nine months of 2012, Barrick recorded a negative $772 million free cash flow compared to a positive $1 billion+ the same period last year.

In his latest update, Greg Mannarino discusses the economic impact of Hurricane Sandy, which is now estimated to have caused over $100 billion in damages.  Mannarino explains why contrary to what the MSM would have you believe, the massive destruction wrought by Sandy is NOT beneficial to the economy- it is a massive destruction of wealth!  Only Keynesian crack-pots believe that destroying real wealth (real, tangible assets) is beneficial to an economic system.
Mannarino also discusses the US debt approaching $16.2 Trillion- a mere $190 billion from the latest debt limit (likely to hit before the end of 2012), and rapidly approaching $17 trillion.  Big US debt downgrades are inevitable and coming soon.  As the bond vigilantes finally turn their focus to the US dollar, gold and silver will respond spectacularly to the upside.

*Update: Wave 2 in progress, cartel finally successful in smashing silver through $31.50, last of $31.11.

As is standard cartel MO, gold and silver were both smashed on this morning’s NFP release, which unsurprisingly beat expectations (only 4 days prior to the elections- numbers can be revised next month afterwards).
Silver was smashed nearly .80 to $31.56 (the $31.50-60 zone holds as support for the nth time), and gold was smashed down $25, back through $1700 to $1691

As early as 2003 we said that we believed silver would go over $50 per ounce . So $50 per ounce was the nominal high in 1980. We said it would go above that price in 2003 – it reached there a year and a half, two years ago and we believe we’ll get back above that level. But we also said that gold and silver would reach inflation adjusted highs and gold’s inflation adjusted high is $2,400 an ounce and silver’s inflation adjusted high is $140 per ounce and we see no reason to change those long-term forecasts. (Doc’s note- the $2,400 and $140 numbers are based on the government’s bogus CPI numbers- a return to REAL inflation adjusted highs would see nearly $7,000 gold and $400 silver) Indeed the amount of money that’s been printed in the world today would suggest that if you’ve got a parabolic spike as we saw in 1980, prices could go much further higher on the upside.

By SRSrocco:

I have been researching the declining ore grades and silver yields in the top silver miners.  I thought the decline would be equal to the gold miners… but it turned out to be a great deal higher.

From 2005 to 2011, the average gold yield from the Top 5 Gold Producers declined 27% or roughly 3.8% per year. During the same time period, the top 5 SILVER MINERS average yield fell an astonishing 33.5%…. or 5.6% per year.  This is nearly a 50% higher annual percentage decline compared to the top gold miners!

The price of lobster has recently taken a sharp nose-dive.  Interestingly, the price of the bottom-dwellers once fed to prisoners in Massachusetts predicted both the 2000 dot.com bubble collapse, as well as the 2008 mortgage/banking crisis.  Is the plunging price of lobster predicting another financial collapse is on the immediate horizon?  Max Keiser discusses with Maine Congressional Candidate John Logan Jones on the latest Keiser Report.

SGTreport has released an excellent interview with Ron Hera from Hera Research discussing the FOUR ways the Dollar could die. Ron believes the most frightening and imminent possibility leading to the death of the Dollar is not lost confidence in the Dollar or in the Treasury market, but rather in the financial markets as a whole — as Ron puts it, it is the unpunished and rampant financial crimes that will likely lead directly to a Black Swan event which in turn will lead to a total collapse.

Full interview below:

Crushed by financial sanctions and needing real money (gold) in order to purchase food and necessities, Iran yesterday banned the export of gold and gold coins from the country without a special license from the Iranian Central Bank. 
The Iranian Customs department blamed the export ban on extreme fluctuations in Iran’s markets (i.e. hyperinflation of the Rial).

Any Iranians planning on fleeing the nation ahead of a Western attack with REAL NON HYPER-DEFLATING WEALTH better have held it in silver.