Submitted by SD Contributor SRSrocco

I am seeing some very interesting signs that seems to be INVISIBLE to the gold and silver mining companies.  They are SLEEPWALKING into a future with the idea that they can keep their business plans going on forever.

In the first 6 months of 2012, Barrick has updated their annual consumption of diesel to be approximately 5 million barrels.  This is 210 million gallons per year, or 105 million for 6 months.  Here is the following from their Q2 2012 Report:

105,000,000 mil gallons / 3,633,000 oz gold = 29.0 gals diesel per oz gold

So, in just one year, Barrick has increased its consumption of diesel per oz of gold 4.4 gallons of diesel per oz (or 18%), in just 6 fricken months.  How about dem apples?


Charles Biderman-What Else is There Besides Gold?

Well, there’s silver of course, but outside of gold and silver, we agree with Biderman that there really is nowhere else to park your assets that provide both safety and the potential for ROI.
What else is there? European bonds?  US Treasuries at 1.4%?  Apple?
Gold and silver are they only options left.
Or in Biderman’s words: If Europe, the U.S and Japan are all printing money to pay bills, what else is there besides gold?[Read more...]


Submitted by SD Contributor SRSrocco

The two bigger silver miners came out with their Q2 Reports yesterday…. and they AIN’T PRETTY.  Now, don’t get me wrong… I like silver miners, I am just showing some interesting things taking place as costs go up and prices paid for the metals go down.

Costs keep going up in a huge way and prices for silver are not keeping pace.

[Read more...]

David Morgan: Shorting the Bond Market is the Next Big Trade

Silver Guru David Morgan calls a bottom in gold miners, and states that shorting the bond market is the next big trade.

We agree with Morgan over the long term, the tricky part is the entry point.  Numerous traders have already been burned by shorting Treasuries and watching as the 10 year dropped to an unthinkable 1.39%.
While the Treasury market is unquestionably the largest bubble of all-time, predicting exactly when the bubble will pop is the difficult part.
For now, we prefer to take the safer side of the same trade by owning physical gold and silver.

Morgan’s full interview with AltInvestors below:
[Read more...]

Constantin Gurdgiev on “Dictator Draghi” & “the Good, the Bad, and the Ugly” of Europe!

Welcome to Capital Account. Last May, we spoke about the bailout of Bankia and other problems emanating from Spain. This led us to question whether we would see a “Spexit” before a “Grexit.” Can we now add “Brixit” to the list? The latest addition to the Euro-exit-speculation family has been making headlines. We talk to Constantin Gurdgiev about whether the “Brixit” is just the next catchy phrase or if there is substance behind it.
Plus, today is the unofficial five year anniversary of the credit crunch. Five years ago the Dow fell nearly 400 points, as French bank BNP Paribas announced it was halting three funds with exposure to US subprime mortgages. Global banks stopped lending to each other, which triggered a credit freeze, and Central banks quickly intervened. We talk to Constantin Gurdgiev, co-editor of “What If Ireland Defaults,” and take stock of where we are today, if we’re looking at any kind of repeat, and why or how it could be different this time. [Read more...]

“Catch Me If You Can” JPMorgue Has 11+ State, Fed & Int’l Enforcement Bodies After It

JPMorgan Chase & Co. is being investigated by at least 11 state, federal and international enforcement bodies

JP Morgan currently has 11 governing agencies investigating it’s activities because the investment back believes (rightly from what we have seen) that they are currently above the law.  Don’t expect anything more than a proverbial wrist slap from any of the open investigations.


The Morgue is like Leonardo Dicaprio in the movie “Catch Me If You Can.”  The bank has amassed a laundry list of fraudulent activities that have burst onto the radars of numerous governmental agencies and into the public spotlight. [Read more...]

COMEX Silver Update 8/9/12

After massive inventory movements all week, we have only a single silver inventory movement to report today, a 168,000 ounce movement in Scotia’s vault.


Ted Butler on the CFTC’s Silver Investigation

Submitted by Ted Butler

Perhaps the most amazing thing of all, at least to me, is the glaring fact that even after four years of non-stop public allegations about involvement in the silver manipulation, JPMorgan still remains the big short.

There has been an explosion of interest and commentary these past few days as a result of a front page story in Monday’s edition of the influential Financial Times (of London). The story stated that the CFTC was set to drop its four year investigation into alleged silver price manipulation due to insufficient evidence to bring charges, according to three unnamed sources. I went to sleep Sunday evening when the story first appeared prepared to wake up to similar and confirming stories in other publications. Instead, there were no other stories confirming the case was set to be dropped; only strong statements that the FT was story was “premature” and “inaccurate in many respects” by a named source, Commissioner Bart Chilton of the agency.

The CFTC’s silver investigation is a hot button issue and the FT story, as well as Commissioner Chilton’s response to it, set off an outpouring of emotion and conjecture in the precious metals world. And for good reason, as this is an extremely important issue.
There can be no greater concern than whether a market is manipulated in price. [Read more...]

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‘The Rats Are Jumping Off This Sinking Ship. This System Cannot Survive Much Longer’ – Harley Schlanger

Our friend Sean from SGTreport has released a MUST LISTEN interview with Harley Schlanger the national spokesman for the LaRouche Organization. Harley just returned from the EU and says the entire banking system is unraveling. The rats are looking for a way to save themselves.
Some within the cabal like the Rothschilds are even showing signs of supporting the re-implementation of Glass-Steagall, not because they are decent human beings – but because they are trying to save their empire.

Meanwhile, people in the U.S. are fed up and want real change that neither the establishment-controlled DNC or RNC will ever allow. We need a new political system in this country, one that actually REPRESENTS the voice of the people. But the bottom line is this broken, criminal paradigm is now functioning on borrowed time. Harley says, ‘This system cannot survive much longer.’ [Read more...]

USGS Overestimating 2012 US Silver Production

Submitted by SD Contributor SRSrocco

I am amazed at the lack of credibility in some of the government agencies (geared towards the USGS).  The last 2010 USGS Silver Mineral Yearbook showed the following top 25 silver producing mines in the United States in 2010.

You will notice as of 2010, the RED DOG MINE was the number one silver producer in the country beating out HECLA’S GREENS CREEK.  However, this is simply not true. [Read more...]

Bernanke Says Europe Needs Its Own Fed

Why would Europe need its own Fed when they know that the Federal Reserve will be their lender of last resort by providing unlimited swaps whenever necessary?

Federal Reserve Chairman Ben Bernanke says that a central economic organization in Europe would help solve some of that continent’s economic crises. [Read more...]

Chart of the Day: Gold Today Compared to 70′s Bull Market & 90′s NASDAQ Bubble

Today’s Chart of the Day compares gold’s gains to date in it’s current decade long bull market vs. historic bull markets of gold in the 1970′s, and the NASDAQ from 1988-2000. [Read more...]

Hinde Capital: Gold Poised for Upside Breakout of Current Range

Ben Davies’ Hinde Capital believes gold is poised for an upside breakout out of its current range trade.
Hinde is looking for a 28% return in gold over the next 12 months, which would be above it’s average 25% annual gain over the past decade.
We concur.

From Hinde Capital:

Gold has been caught in a very tight range since the 16% rally at the start of the year and the subsequent sharp sell off in late February and March.  Often when prices in any asset become compressed, they invariably break out of the range emphatically.  With gold, the fundamentals remain supportive which suggests that gold should break out from its range to the upside. [Read more...]

Silver Popping Again on COMEX Open Algo

The algos remain firmly in control of the metals this morning, as gold and silver have popped on the COMEX open for the 5th consecutive day.
A look at the respective 24 hour charts reveals an algo pattern that could nearly be superimposed on yesterday’s chart.
Silver again traded down overnight throughout the Asian and London session, and has popped on the COMEX open to $28.20.
If the algo holds we should see a brief consolidation followed by a push to $28.40-$28.45, and then a drift back towards $28 later in the session and in the access market.

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