After the standard post FOMC metals smash that has occurred after 95% of the FOMC statement releases over the past 7 years never materialized yesterday, one had to wonder whether a short squeeze was imminent. 
It appears the short squeeze is on as silver has shot through major resistance at $20 on the COMEX open, and after a quick retest of the level, is again shooting vertically higher with a last of $20.90, a 3 month high!

Total DebtWhat would you say if I told you that Americans are nearly 60 TRILLION dollars in debt?  Well, it is true.  When you total up all forms of debt including government debt, business debt, mortgage debt and consumer debt, we are 59.4 trillion dollars in debt.  That is an amount of money so large that it is difficult to describe it with words.  For example, if you were alive when Jesus Christ was born and you had spent 80 million dollars every single day since then, you still would not have spent 59.4 trillion dollars by now.  And most of this debt has been accumulated in recent decades.  If you go back 40 years ago, total debt in America was sitting at about 2.2 trillion dollars.
Somehow over the past four decades we have allowed the total amount of debt in the United States to get approximately 27 times larger.  This is utter insanity, and anyone that thinks this is sustainable is completely deluded.
We are living in the greatest debt bubble of all time, and there is no way that this is going to end well.
Just check out the chart…

49 million empty houses and apartments.
That’s the situation in China according to new research.
Vacancy rates are 22.4%, and only 40% of current construction is needed to meet actual demand.
China’s 22.4% vacancy rate compares 13% in the US at the height of its subprime housing boom.  So this is nearly twice as bad as the subprime meltdown.
A 50% slowdown, which would not be out of the question if these figures are accurate, would wipe out all the forecast GDP growth for the country this year.
In that kind of scenario, China would have big problems at home.   And it would also cause a huge commotion around the world.
Think about it– if China is busy dealing with its own domestic economic issues, then who is left to buy up all of America’s debt?
The Fed. That’s it. The Fed would become the buyer of last resort for US Treasuries… which would be a major weakness in the dollar’s confidence game.

According to the March 2013 Press Release, ABN AMRO’s gold that was in trust for clients had been rehypothecated, nay let us not use weasel-word bankster-speak, let us use English instead.
How about: “stolen”,” illegally converted to title of another party” instead?
If you receive news that a large bank can not deliver the gold (entrusted to them by their customer clients) back to those clients upon demand, well you might think that the gold is gone, and some freshly printed notes will be offered to clients instead, whereupon the clients would have to enter the gold market and purchase “their” gold back.

It seems a reasonable and bullish way to interpret such information, doesn’t it?
Well, let us look at the gold price in the period following this news release.
Here is a chart of what happened next:

revolutionary warEverywhere you look there are signs that the game is resetting. In Europe, the establishment parties have been voted out and politicians are in a panic.   In many other parts of the world, all-out revolution is ensuing.
Around the globe, people’s apathy is turning into disgust… and that disgust into action.
Initially it unfolds in the voting booth, or even in the streets. Eventually, though, people will realize that putting different politicians in power only changes the players, it doesn’t change the game.
Long ago our ancestors learned the same lesson. After centuries of living under the feudal system, they discovered that it didn’t matter which monarch was in power. It was the system itself that needed to be reset.
Today, the world finally seems to be learning that it’s not about a single individual in power… but the entire institution itself that is rotten.
By virtue of its size and (at least for now) dominance, the US is the last to this party.   But based on the data, it seems to me that we are in the early stages of this transition… a total reset in the way that society organizes and governs itself.
This is not something that will take place overnight.
But just as the French Revolution led the world once and for all out of feudalism and into the modern nation-state, the consequences of this transition will have far-reaching effects and be one of the biggest stories of our time.

The fact that that the NSA is now claiming it is “Too Big to Comply” to a court order is an extremely important revelation since it further proves that the super rich and super powerful are in no way shape or form subject to the same laws as the rest of us.  The mega banks are “Too Big to Fail,” multi-national corporations are “Too Big to Pay Taxes” and the government is just “Too Big to be Useful.”   The rule of law no longer exists in America (remember Jon Corzine), which in turn means there is no longer a functioning society.
This may not be obvious to most people at the moment, but it will become painfully clear to everyone in time unless these trends are reversed.
The specific incident I have chosen to highlight to demonstrate this point today relates to the NSA’s claim that it cannot comply with a court order because it’s essentially too complex and compliance will damage “national security.”

return of the kingChina National Gold Group Corporation or China Gold, China’s largest gold conglomerate with primary interests in mining and also refining, is on the hunt for global acquisitions and partnerships, the company’s president said yesterday.
Mr. Song said that his company is searching for opportunities in the gold and silver markets. “The growing strategy is very clear: We are going out looking at things globally,” he said through an interpreter. “We have a few opportunities, at different stages.”
For 53 years the Chinese people were banned from owning gold.
But that all changed in 2003, and now the enormous demand by 1.3 billion Chinese over the last ten years is causing an important paradigm shift, as gold and silver moves from the West to the East.
The ramifications of that paradigm shift have yet to be appreciated.

launch rocket verticalGold is to poised ‘rise in May/June and make a TOP in June before a final summer low’.
The June 28, 2013 Gold Bottom at $1180 will hold as THE FINAL BOTTOM. 
The coming summer low will be the FINAL ENTRY LOW and the ‘Buy’ of a Lifetime followed by a Moon Shot to $2000 before year end!

gun confiscation“I don’t believe people should to be able to own guns.”
– Barack Obama 

We need to do this every day of the week, and just really brainwash people into thinking about guns in a vastly different way.”
-Eric Holder

A National Gun Confiscation is coming.  The question is, Will You Surrender Your Firearms? 

Bernanke taperYellen continues QE taper down to $35 billion/month:

  • Fed to taper QE an additional $10 billion beginning in July
  • Beginning in July, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $15 billion per month rather than $20 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $20 billion per month rather than $25 billion per month. 
  • Waiting on the inevitable Gold & silver smash to commence…

Full FOMC Statement is below: 

Shanghai Gold Exchange withdrawals 2014 week 23Chinese gold demand in the past few weeks is not as strong as in the beginning of 2014 or as in 2013 after the price of gold crashed in April, though the levels are slightly higher as they were throughout 2011 and 2012.
On the Shanghai Futures Exchange (SHFE) all silver futures contracts came out of backwardation this past week (week 24), and on June 13, most Shanghai silver premiums over international price closed under 6 %.
The prior week they all closed above 6 %.

The scarcity of silver in Shanghai appears to be easing.

ConsumerpicOne of out primary themes in 2013 was “food fraud.” When I use that term, what I am really referring to is the troubling fact that many of the things we consume are not what they seem to be based on what is represented by the package. From a study that showed food fraud in the U.S. was up 60% year-over-year, to pink slime in meat and the fact that the majority of “tuna” served isn’t actually tunathe examples are seemingly endless.
If all of that wasn’t enough to convince you of how important it is to be aware of exactly what you put in your body, I don’t know what is. This is precisely why Monsanto (possibly the most evil corporation on earth) is so aggressively fighting GMO labeling bills.
Unfortunately, it’s not just food we have to be aware of. Chemicals in everyday products also pose a serious threat to our health in a number of ways, from testicular development, to cancer and obesity.
“Some of the same chemicals found in the pigs’ semen storage bags are routinely used in packaging food for humans and are known to migrate into food. “
Naturally the completely corrupt and worthless FDA (which is too worried about raw milk and artisan cheese) isn’t doing a thing to stop it. It’s up to us, and knowledge is the first step to rectifying the situation.

muppetsThings couldn’t be better in our blissful economic utopia. I mean, for crying out loud, look at the stock market! It goes UP every day!! Things must be better than they’ve ever been.
The reason why the rich and get richer and everyone else is stuck in neutral and getting squeezed more every day is Fed policy.
Since direct debt monetization began five years ago, the “stock market” has soared and nearly tripled.   IF you had wealth and were able to participate, you’re pretty happy and you can at least still afford to drive and eat.  IF, on the other hand, you’re just a regular guy or gal with a spouse and a family, struggling to make ends meet, here’s what you’ve had to endure, instead:

A quaint comparison of what money can buy in today’s market has Bill Gates being able to afford every home in Boston.
His $76.6 billion reported by the Washington Post or the $78.4 billion by Forbes seems a pittance when put up against John D. Rockefeller’s peak wealth of $318.3 billion (based on 2007 US dollar). According to your resident commissars over at MSNBC, “The median net worth of American households hasn’t changed much over the past decades, it’s about $20,000.”
So if Gates decided to purchase all the Beantown houses, whom would he pay for the bricks and mortar?
Certainly, most Americans may think of “their home is their castle”, but few actually own a debt free deed to their grand estate. No wonder the banks and financial institutions, are so fond of placing liens on real property.

America’s sprawling 401(k) pension system will turn cash flow negative in 2016, threatening disruption for asset managers and selling of equities, according to analysis by Cerulli Associates, a research house.
The $3.5 trillion system attracted fresh contributions of $300 billion in 2012, with $276 billion either withdrawn as cash by retirees or rolled over into individual retirement accounts (IRAs), Cerulli estimated according to the FT. The IRA market is already larger at about $5.4 trillion.
However, by 2016 it forecasts that inflows will be $364 billion and outflows $366 billion, with the deficit only widening year on year after that as the core of the baby-boomer generation retires contributing to the pensions timebomb.
The combined value of the U.S. pensions system is some $9 trillion. The total market valuation of the global bond market is now over $100 trillion. By comparison, the total market value of all the gold in world is estimated to be just over $1 trillion.
Got PHYZZ??

The criminality of the Obama Administration is at this point almost beyond description:

 The Obama administration has been quietly advising local police not to disclose details about surveillance technology they are using to sweep up basic cellphone data from entire neighborhoods, The Associated Press has learned.
Citing security reasons, the U.S. has intervened in routine state public records cases and criminal trials regarding use of the technology. This has resulted in police departments withholding materials or heavily censoring documents in rare instances when they disclose any about the purchase and use of such powerful surveillance equipment.

Yep, there’s that catch-all term again to justify anything, “security.”

poker big lossesRather than invest in failing infrastructure, central banks and governments are acting like hedge funds, betting on the stock market and OTC derivatives, using fiat credits that are borrowed or printed.
The bottom line: While global citizens are told to “grin and bear” austerity, their leaders are having a “good ‘ole time” spending trillions of dollars, at the stock market casino.

Screen Shot 2014-06-16 at 12.15.52 PMWhat is happening in Iraq is very bad, and it is the direct result of the idiotic children calling the foreign policy shots in Washington D.C. 
Ever since 9/11, everything about the status quo’s decision making has been irrational and dangerous.   From the haphazard and ill-conceived wars abroad, to the decimation of the Bill of Rights at home.  We need to reign these sociopaths in and change direction immediately. What is happening in Iraq is just further proof that the current Republican/Democrat crony power structure running things needs to swept away for good, never to return.
This is what happens when you have inept, sociopathic children running a global empire:

my-shorts-on-fireDuring this past COT period we see in silver that price flat lined during the first part of the period then on Thursday evening after hours there was an explosion upwards. 
This is what I call a speculator short shakeout on the part of the commercials because price had been deteriorating more than they desired.   Thus, we see in the COT the large speculators covered 4,526 shorts.
Simple, dear Watson…
Both the producer merchant and the swap dealers picked up similar amounts of shorts at higher prices after the short shakeout. 

In gold, we see a very similar short shakeout...

Jim Rickards“Oil is stable.  What you’re seeing is the collapse of the dollar!  As oil goes from $100 to $200 a barrel, I don’t think that oil doubled, what I think is that the dollar collapses by half….The Fed wants a little inflation- they’re going to find they get alot more than a little.  This looks like the 70’s”  -Jim Rickards, on CNBC.
Full MUST WATCH interview is below: