Chinese Gold & Silver Exchange to launch Silver trading

While we wait for the launch of Ned Naylor-Leyland’s 1:1 allocated Chinese silver exchange, another Chinese paper silver exchange is set to launch silver trading in Hong Kong dollars, US dollars, and the Yuan.

Of note is the fact that the USD is merely one of 3 currencies the contracts will trade in.
[Read more...]

Greek Vote Latest Excuse for Cartel Gold & Silver Raid

Live 24 hours gold chart [Kitco Inc.]With Sunday’s Greek vote threatening to extend the current status quo indefinitely in Greece in Europe as Syriza was unable to win a majority in the Greek elections, silver gapped above $29 on Sunday night’s Globex open.   As this obviously could not be allowed, it was instantly beaten down to $28.40, and sent as low as $28.21 in early COMEX trading this morning.

Gold received an even more blatant manipulative take-down, opening up $2 before immediately being smashed $20 lower to $1610.

Does anyone think gold and silver would have traded any differently had Syriza won the elections outright and the markets opened in a panic?  The cartel would have taken the opportunity to take down the metals in an epic way and claimed it was ‘dollar strength’.  [Read more...]

Doc’s Deal of the Day: gold…Gold…GOLD!!

 

Get Your Phyzz From The Doc

“Nothing fancy.  Just a telephone and low prices.” 

 

Call Now To Order At 614-300-1094

 

Doc’s Deal Of The Day

GO FOR THE GOLD!!

Who said it was only for Olympic athletes anyways?

1oz 2012 Gold American Eagle


AS LOW AS $74.99 OVER SPOT!! [Read more...]

Gold Falls Then Ticks Higher – Spain and Italy 10 Year Over 7% and 6%

Gold took a tumble for the first time in 7 sessions in Asia as Antonis Samaras, leader of the Greece’s New Democracy Party (pro-bailout) was victorious.  Today, Samaras plans to form a coalition with other parties backing the bailout – meaning that Greece’s future in the euro is secure – for now.  Gold’s dip in Asia was thought to be due to profit taking and increased risk appetite after the Greek election. However, this increase in risk appetite has been quite short lived with Spanish and Italian 10 year bonds again coming under pressure resulting in record Spanish yields over 7.13% and Italian 10 year over 6% again. Initial gains in equity markets have subsided and the lessening of risk appetite is seeing gold supported. Greece’s exit from the Eurozone is no longer a short term risk however it remains a real risk as does the risk of financial contagion in the Eurozone due to insolvent banks in Spain, Italy and France. [Read more...]

How Shock Waves Will Hit US if Greece Drops the Euro – The Unthinkable Suddenly Looks Possible

Somehow we missed the news that The Golden Jackass is now writing for the AP.
The MSM publication has released a piece on the Greece crisis that reads like something out of the latest Hat Trick Letter- essentially depicting a step-by-step analysis on how today’s Greek elections (1st exit poll shows Syriza & the New Democracy in a dead heat) could turn into a full-blown global contagion.

Got Phyzz?

From the AP:

The unthinkable suddenly looks possible.

Bankers, governments and investors are preparing for Greece to stop using the euro as its currency, a move that could spread turmoil throughout the global financial system.

The worst case envisions governments defaulting on their debts, a run on European banks and a worldwide credit crunch reminiscent of the financial crisis in the fall of 2008.

A Greek election on Sunday will determine whether it happens. Syriza, a party opposed to the restrictions placed on Greece in exchange for a bailout from European neighbors, could do well.

If Syriza gains power and rejects the terms of the bailout, Greece could lose its lifeline, default on its debt and decide that it must print its own currency, the drachma, to stay afloat. [Read more...]

Bank Holidays Begin in France? Banque Postal Stops Wires & Cash Transactions Friday

Contagion fears and panic appear to have reached France’s shores ahead of Sunday’s Greek vote, as Max Keiser has received a first-hand account that France’s large Banque Postal stopped outgoing bank wires due to ‘technical glitches’, and also stopped cash transactions beginning at 8am Friday!

A global financial collapse and subsequent bank run could occur within minutes-hours once the trigger is detonated- which appears to be a possibility (although likely remote) with this weekend’s rhetoric from numerous Central Bankers stating they will provide whatever liquidity is necessary .

As a precaution, we recommend readers take the time Sunday to ensure they have a minimum of 1-3 months supply of necessities on hand, and as always, protect your financial assets with PHYSICAL gold and silver held in your own possession. [Read more...]

Bank Yankers – Jamie Dimon on Capitol Hill

The Daily Show’s Jon Stewart GETS IT.
*MUST WATCH
The Senate Banking Committee quizzes JPMorgan Chase CEO Jamie Dimon on the efficacy of Dodd-Frank and measures he would take to prevent future catastrophic bank losses.

[Read more...]

Silver Update: Butler & Bernanke

BrotherJohnF discusses The Bernank and Ted Butler’s latest article (Where Ted finally reaches the conclusion that the government has green-lighted JPM’s silver manipulation) in his latest Silver Update: Butler & Bernanke. [Read more...]

Hugo Salinas-Price and Max Keiser Can Save Greece with SILVER

Hugo Salinas-Price and Max Keiser’s recent appearance on Greek television attempting to convince Greek leaders to dump the Euro and re-monetize silver to save the Greek’s from economic ruin has now been edited for English.
The highlight of the interview undoubtedly is Max taking a €50 note from his billfold and tearing it up on camera.

Will the Greek’s take Salinas-Price & Keiser’s advice and re-monetize silver? [Read more...]

Silver Hyperinflation…The Demise of America

In his latest interview, David Morgan discusses his keynote speech at the upcoming Asian Metals Conference in Hong Kong: Silver Hyperinflation….The Demise of America. [Read more...]

Gold COT Report 6/15/12

Submitted by SD Contributor Marshall Swing

 

Commercials sold off -7,521 longs and covered 4,853 shorts to end the week with 54.94% of all open interest, a very minor change since last week, and now stand as a group at -15,879,200 ounces net short, only 250,000 added net short from the previous week.  The producer/merchant portion actually increased 96 longs while covering -2,550 shorts.  This was a very boring week!  The method behind the madness is not too cause much stir in the speculators while the specs continue to add some longs since last Friday.  A minor, fake raid happened on Thursday but the real raid is coming in the not too distant future. [Read more...]

Silver COT Report 6/15/12

Submitted by SD Contributor Marshall Swing:

Commercials picked up 1,774 longs but also grabbed 3,168 shorts to end the week with 45.59% of all open interest, a minor change since last week, and now stand as a group at -89,595,000 ounces net short, about 7,000,000 added net short from the previous week.  Commercials continue to add longs but had to douse the speculator long rally from last week.  Once again, as we approach the fall of the Western financial system with JP Morgan leading the pack, the precious metals will plummet.  But this is a good thing for us physical investors. [Read more...]

The Last Days Of Lehman Brothers

The Last Days of Lehman Brothers is a British television film.
The drama was inspired by the real events that occurred over the weekend leading up to the bankruptcy of Lehman Brothers on 15 September 2008. Investment bank Lehman Brothers is in trouble after a turbulent six months and the leaders of the three biggest investment banks on Wall Street met at the Federal Reserve Bank of New York. American Treasury Secretary Hank Paulson declares that the company is not too big to fail and that there will be no bailout using public money. [Read more...]

Silver Update: Super Mario!

BrotherJohnF is back with another Silver Update: Super Mario! [Read more...]

Laying the Groundwork for a Default and Eurozone Exit ahead of Greek Elections

No matter the outcome of the Greek election on Sunday, Monday will certainly be an interesting day for global markets. Many believe Sunday’s elections will determine whether the nation remains in the Eurozone. [Read more...]