Gonzalo Lira who lived through the 1973 Chilean hyperinflation talks to Gold Money’s Alasdair Maceod about the Euro-zone crisis, impending hyperinflation as a result of the ECB and Federal Reserve’s new QE∞ policies, and why countries should default rather than attempting to devalue their debt through inflation, which can rapidly descend into a collapse of confidence of the currency and hyperinflation.

Perhaps our resident self-proclaimed Great-Depression expert Ben Bernanke should listen in.

Perhaps Mr. Dimon should bust out his presidential cuff links again to remind Congress and regulators who’s the boss, as his bank JP Morgan is reportedly under investigation for money laundering.

The London Whale’s ICD9 debacle, now a money laundering scandal, can we throw in silver manipulation for a perfect Hat Trick of scandals for JPM in 2012?

THE POPPING OF THE SHALE ENERGY MIRACLE MEANS PEAK METALS SOONER THAN LATER

As the world wakes up to the fact that unconventional liquid energy sources will not be able to offset the ongoing depletion of conventional crude production, the world will have to survive on less in the coming years;  and that means less gold and silver.

The popping of the SHALE GAS MIRACLE just erased any remaining doubts that the world will be able to continue its delusion of maintaining business as usual… forever.

B writes:

Doc-Since I last communicated with you I did increase my phyzz to 12,000 oz up from 10,000 oz. I am a believer or I would not be in the phyzz as much as I am but after a while you must start questioning what has happened over the last 40 years. Silver was at $50 over 40 years ago!
It then went almost to nothing and sat there for 30 years!  Then a fire was lit when we started having problems- It jumped to $49 not even breaching the old high set 30 or more years earlier, and was then pounded back to $26. Everyone is ecstatic about the recent move to $33.

Don’t shoot me but big deal!   After QE1 AND QE2 AND OPERATION TWIST AND EUROPE GOING DOWN THE TOILET HERE WE ARE AT $33!  WE’RE SITTING $17 CHEAPER THAN SILVER WAS OVER 40 YEARS AGO!
YOU ALL SAY IF THEY KEEP PRINTING SILVER WILL KEEP GOING UP, WELL THEY PRINTED AND PRINTED AND ECONOMIES COLLAPSED AND EUROPE HAS FALLEN AND HERE WE ARE AT $33!  WHAT WILL THE BIG CHANGE BE?  I HAVE READ AND LISTENED TO EVERYTHING I  CAN READ AND LISTEN TO FOR ABOUT A YEAR NOW.  I HAVE HEARD IT ALL BUT WE ARE AT $33.

I KNOW I WILL GET KILLED WHEN THIS IS PUBLISHED AS I HAVE BEEN MADE FUN OF BEFORE FOR SOME OF MY QUESTIONS BUT THAT’S OK- I’M A BIG BOY AND CAN TAKE A LITTLE HEAT.   BUT THE QUESTION REMAINS THAT SILVER SHOULD BE WAY UP NOW AND ISN’T.  YOU SAY IT WAS MANIPULATED BUT THIS TIME THE BULLS CAN BEAT BACK THE CARTELS. WELL,  THEY HAVEN’T YET.  THEY ARE STILL BEATING US. MAYBE THEY WILL ALWAYS BEAT US. WHY IS THIS TIME SO DIFFERENT?

In the latest Keiser Report, Max Keiser and Stacy Herbert discuss Jamie Dimon’s collateral transformation desk feeding the multitude of banksters with five quadrillion in infinitely leveraged toxic derivatives and two Treasury bills of a bankrupt nation.
In the second half of the show, Max Keiser talks to Joshua Mellors of SocialJusticeFirst.com about financial suicides and the government and banking policies that cause it.

The dollar’s death by a thousand cuts just sustained a few hundred proverbial slashes as China officially announced Thursday that the international banking and payment transfer system is ready for any nation in the world to begin accepting the Chinese Yuan as payment for oil.

Combine the Chinese announcement with Thursday’s open-ended and unlimited quantitative easing announcement by the Fed and the dollar is dead.

Our two favorite Aussies Clark and Dawe are back- this time explaining the global financial crisis, and why the banksters were paid $1 Trillion with taxpayer funds. (because banksters are so important and such brilliant people, and you can’t have an economy without the key decisions being made in the middle of it by banksters).

Abbott & Costello meet the Global Financial Crisis.

 

SilverDoctors.com is undergoing scheduled maintenance over the weekend.  Due to the surge in silver prices and the rising popularity of the website, we are upgrading our servers to handle present and future website demand.  The Doc will continue to post articles throughout the weekend and we expect actual website downtime to be very minimal. 

Please also note SD Bullion will be closed on Monday, but will re-open at it’s normal time on Tuesday morning (9:30 a.m. E.S.T).  For those individuals who have been keeping track of SD Bullion sales as a barometer of market sentiment, SD Bullion saw a huge surge of demand (record ounces sold) come in at the $28-$30 mark.  A number of the transactions were particularly large in nature with a few transactions pushing the 7 figure mark and above.  Overall, sales were very strong for the month of August and for the first part of September.  As one would expect, the last two days have been relatively slow, as individuals become acclimated to a new world of QE to infinity.  We expect this acclimation process to be resolved quickly as the printing presses are kicked into high gear and prices (in our personal opinion) continue to rise.

Thank you to all SD Readers for your continued support, consideration of purchasing your bullion from SD Bullion, and contribution to the site.  We ask for your patience this weekend as we move to upgraded servers.

Submitted by SD Contributor Marshall Swing:

Gold COT Report 9/14/12

 

Commercials bought a respectable 3,402 longs while breaking the bank picking up a huge -21,107 shorts to end the week with 56.82% of all open interest, an increase of about +0.71% from the previous week in total open interest, and now stand as a group at 23,709,100 ounces net short, a significant increase of  1,770,500 ounces net short from the previous week

Submitted by SD Contributor Marshall Swing:

Silver COT Report 9/14/12

Commercials sold off an incredibly massive -91 longs on the week and purchased a respectable -2,261 shorts to end the week with 46.13% of all open interest, an increase of +0.31% in their share since last week, and now stand as a group at 236,360,000 ounces net short, a MASSIVE INCREASE OF 11,760,000 more net short ounces from the previous week.

Clearly, the commercials were preparing for a massive raid on Thursday, until Bernanke dropped their pants by announcing QE∞.

This means that rather than the massive raid that was apparently planned for Thursday’s FOMC release by the cartel, they now find themselves with nearly a 250 million ounce net short position with the reality of QE∞ staring them in the face.

Everyone now will be buying the dips in gold and silver in order to protect themselves from the Fed’s official policy of currency devaluation to infinity.  The cartel will have to cover these shorts at some point- expect this to begin in an orderly fashion, and potentially result in a short covering disorderly move to the upside in silver.

Wynter Benton, the anonymous blogger on Yahoo Finance’ JPM page (who claims to be a group of former JP Morgan commodities traders under Blythe Masters and accurately forecast numerous silver moves in early 2011) re-emerged today after an 11 month hiatus.

Benton claims that the Oct 31st 2011 take-down of MF Global was SPECIFICALLY designed to prevent the group of former JPM traders with a chip on their shoulders against their old boss Blythe Masters from taking delivery of a massive amount of physical silver and breaking JP Morgan’s massive naked short silver position.

Benton also claims that JP Morgan’s $36 silver derivative time-bomb is still in effect, and states that the ex-JPM traders have re-grouped, and that silver WILL trade above $50 before Dec 31, 2012.

Striking platinum miners in the Rustenburg area now want, Xstrata’s operations, Implats and Amandelbult to be shut down next week, along with Amplats, Lonmin and Aquarius which have already shut down to protect workers.

Aquarius Platinum has suspended operations at its Kroondal mine near Rustenburg on Friday – the fourth mine to stop operations in a protracted labour dispute. Police swooped on striking protesters outside and arrested seven people.

Sebei said protests were continuing to close all mines in the area and named Samancor, Xstrata, (both of which operate chrome mines in the region), Impala Platinum – the world’s No. 2 platinum miner – and Amandelbult (which is located some way away from Rustenburg). He also named Murray & Roberts – a mining contractor employed by Aquarius.

Egan Jones just dropped the Friday afternoon hammer on the US again, downgrading the US for the 2nd time in as many years, from AA to AA-.

Egan Jones states the reason for the downgrade is Thursday’s QE3 announcement, which the firm states will ‘hurt the US economy and, by extension, credit quality….the increased cost of commodities will pressure profitability of businesses, and increase the costs of consumers thereby reducing consumer purchasing power. Hence, in our opinion QE3 will be detrimental to credit quality for the US‘.

With Egan Jones once again breaking the ice, are downgrades from heavyweights S&P, Moody’s, and Fitch now imminent?