gun controlWelcome to the new Fascist Amerika where only those businesses aligning with the goals of our fascist overlords are allowed to succeed. As the WSJ has reports tonight, GE Capital has just cut off all funding to gun dealers across the US:

This month, Glenn Duncan, owner of Duncan’s Outdoor Store in Bay City, Mich., said he received a letter from GE Capital Retail Bank in which the lender said it had made “the difficult decision” to stop providing financing services to his store. Other gun dealers have received similar notices.

With the Senate failing to pass Obama’s signature gun control legislation this week, it appears that the banksters are taking the destruction of the 2nd amendment into their own hands.

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By Eric Dubin
Precious metals mining stocks were on fire today.  If you were looking at just the prices of gold and silver bullion, this substantial shift among the institutional money gang wouldn’t be on your radar.  The move is large enough that it’s worth pointing out.  The move is yet one more sign that the bottom for precious metals is in the rear view mirror, and that $22 silver is going to hold.

A Quick Recap

  • Cyprus: Warn the wealthy insiders, politicians, and Russians, and then steal from the remaining depositors. This will hurt confidence in banks, the EU, and the IMF.
  • Bail-in Plans: Announce that the bail-in plan (steal from depositors) is THE template to fund bank failures in the EU, Canada, USA, and New Zealand. This further reduces confidence in banks and politicians. Read A Tipping Point In The Financial System – Part 2.
  • Gold bars leaving the Comex vault: According to David Chapman, gold in Comex vaults is down about 25% since 2010. Read the whole article for some interesting insights.
  • Japanese money printing announcement on April 4, 2013. Yes, printing money (“monetary heroin”) has not worked in the past thousand years, but printing more aggressively might be successful (like treating heroin addiction with more heroin) this time.
    And, yes, it will end badly.

The United States is a deeply unhappy place.  We are a nation that is absolutely consumed by fear, stress, anger and depression.  It isn’t just our economy that is falling apart – the very fabric of society is starting to come apart at the seams and it is because of what is happening to us on the inside.  The facts and statistics that I am going to share with you in this article are quite startling.  They are clear evidence that America is a nation that is an advanced state of decline.  We are overwhelmed by fear, stress and anxiety, and much of the time the ways that we choose to deal with those emotions lead to some very self-destructive behaviors.  Americans have experienced a standard of living far beyond the wildest dreams of most societies throughout human history, and yet we are an absolutely miserable people.  Why is this?  Why is America #1 in so many negative categories?  Why are we constantly looking for ways to escape the pain of our own lives?  Why are our families falling apart?  There is vast material wealth all around us.  So why can’t we be happy?

Ron PaulBloomberg’s Market Makers interviewed Ron Paul Tuesday, with Paul discussing last week’s epic gold smash. With the Bloomberg duo attempting to goad Paul into admitting gold is not a safe asset due to the recent price volatility, the former Texas Congressman stated that he’s not concerned about the recent gold slump, he’s worried about the 100 year slump in the US dollar!  Paul points out that PHYSICAL gold demand has gone through the roof, and states for true believers the recent gold dip is an excellent buying opportunity, and that he personally bought gold last week.
Paul also discusses Bitcoin (not a fan…I’m not interested in something I can’t put in my pocket), Central bankers, the Treasury Bubble and its coming US collapse, and the future of the Republican party.
Paul’s full MUST WATCH interview is below:

20121003_grant_0The Interest Rate Observer’s Jim Grant was back on CNBC Tuesday, again discussing the manipulation of interest rates and The Fed. When asked by Maria whether The Fed is getting ready to stop QE this summer, Grant responded that “they’re just getting into it!”
On gold, Grant stated: I’m still bullish, gold is THE ALTERNATIVE to Central banking! It’s the way to get short Central banks!   The single fundamental of the gold market is aggressive, unprecedented money printing and the institution of managed currency. As long as that remains in place, you are compelled to look at an alternative to Central Banks if you are serious about retaining the money you’ve earned, the principle alternative to Central banks is the ancient monetary asset they can’t create!

Jim Grant’s full interview on the Fed & gold is below:

The Silver Institute released the 2013 World Silver Survey this morning.  The Silver Institute report saw global silver investment rise to 252.7 million ounces last year, with ETF demand hitting a record 631.4 million oz, and silver coin demand coming in at 92.7 million oz, the third highest total on record.
Industrial silver fabrication demand in 2012 dipped to 846.8 million oz.

The Silver Institute’s Full 2013 World Silver Survey is below:

The U.S. Mint is suspending sales of one-tenth oz American Eagle gold coins. The Mint says that sales are suspended as inventories are depleted and need to be replenishedDemand for one-tenth ounce gold coins is up 118% from a year earlier!
Premiums are rising on all gold and silver bullion coins and bars and there are delays developing for certain bullion products – especially silver coins and bars.

JPMBy Eric Dubin

Given that options expiration comes to COMEX April 25th, today’s China disappointment would have been the perfect news event for the cartel to piggy-back on and smash gold and silver further.  The fact that silver is only down a few tens of cents and recovering actually offers more support to my theory that JPM really doesn’t have a need to push silver under $22.  Their entire short book should have an average basis comfortably above $22.
JPM should be in the money

The US Mint has just halted sales of fractional 1/10th oz gold eagles!  For now, sales continue for 1oz, 1/2 oz, and 1/4oz coins…although based on the fact that many wholesalers have already sold their next 2 months allocations forward and have now suspended sales, we suspect a complete halt for US mint gold and silver products is coming…and soon.

gold eagleIn the latest Keiser Report, Max Keiser and Stacy Herbert follow the ounces not the prices in the precious metals market and discuss the psyops of the gold war where sales of 1100 tons (45% of annual new supply) is sold into the market at once in order to alter behavior. They observe crowds stampeding in the East for more physical gold while in the West, people are put on a restricted debt diet controlled by their governments based on needs not wants. Finally, they discuss the conflicts of interest at the heart of CISPA. In the second half of the show, they talk to Wolf Richter of about gold smashes, wealth grabs and government and Wall Street corruption. News Brief
By Eric Dubin

HSBC and Markit Economics compile a Purchasing Managers’ Index for China.  Their preliminary report for April was reported earlier today at 50.5, a decline compared to the 51.6 final number reported for March.  The number was below expectations and is a further sign China’s economy is slowing a bit.
As you’d expect, the knee-jerk reaction has commodities under pressure, with silver and copper seeing the largest percentage declines.  We’ve seen this movie before — many times, in fact.
In the wake of this month’s substantial decline in precious metals, the mainstream media has paid little attention to the leap in physical demand that price declines have inspired.  We expect reporting of the implications of China’s slowdown to be just as one dimensional.

Chris DuaneUnconditionalFinance’s Elijah Johnson has released an interview with Chris Duane and BrotherJohnF discussing their outlook on silver.
The pair discuss why silver could be headed to $300-$500/oz before the massive secular bull market is exhausted, and whether silver will join gold in backing currencies in the aftermath of the collapse of the current global fiat system.

BrotherJohnF & Chris Duane round-table on silver below:

Cyprus'dIrish Savers & Pensioners Have Just Been Cyprus’d!

As if on cue, a day after my expose on Anglo Irish Bank and its shenanigans (see Global Banking Crisis – How & Why YOU Will Get “Cyprus’d” As This Bank Scrambled For Capital!!!), The Irish Business Post announces senior bondholders will get wiped out. That’s right, a 100% loss! Zilch! Zero! Nada! Now, that’s investing. That’s getting “Cyprus’d”, plus some!!!
This is actually MUCH WORSE than the deal the Cypriots got. These Irish pensioners are facing a total wipeout – 100% LOSS!!!

Reggie Middleton published an Irish news story by Niall Brady that noted:  “Pensioners who leave retirement funds in Irish banks have no protection from the deposit guarantee scheme that protects savers up to 100,000 Euro.”  Much of Middleton’s story rehashes his previous reporting, which makes yesterday’s article a bit confusing.    Nevertheless, the IBRC precedent does indicate Irish pensioners should not rest easy.

Asia is seeing a new gold rush. Demand for gold bars, coins and jewellery has soared as bargain hunters try to capitalize on the dip in prices. In Hong Kong and Beijing customers lined up outside banks and jewellery shops to make purchases and in some instances there was not enough physical metal to meet the demand. The Shanghai Gold Exchange’s cash contract hit a new record high yesterday (43 metric tonnes, up from 30.4 on April 19th) while gold coin sales at the U.S. Mint have nearly tripled in April against last month’s figures.  Joni Teves of UBS research said, “Physical markets have responded to the much cheaper gold price levels,” and “our physical flows to Asia have been particularly elevated this week.” Asian investors demand for the physical yellow metal has supported the gold price, rallying it up 8.1% from last week’s low.

USMintUS Mint reported a whopping 681,000 ASEs sold Monday, bringing the April sales total past 3 million ounces for the first time EVER at a record 3,068,000 oz. 
The Mint has now set a monthly sales record 3 out of the first 4 months in 2013, including January’s record sales for any month of 7,498,000 oz sold!

What in the world is happening to America?  Over the past couple of decades, the federal government has used just about every major national tragedy as an excuse to take even more liberty and freedom away from us.  And without a doubt, the Boston Marathon bombing was a great national tragedy.  I don’t think that any of us will forget the images that we have seen over the past week.  All of those responsible for this attack should be exposed, hunted down, tried and punished.  Unfortunately, what always seems to happen is that it is the American people that seem to get punished the most for these tragedies

standIn the wake of his epic $50,000/oz gold call Friday, Jim Sinclair sent an email alert to subscribers over the weekend calling for paper longs to stand for physical delivery of gold, and stating that the current physical demand for gold threatens to completely destroy the fractional gold system.
Sinclair states that the recent $200 take-down in the gold price will ultimately result in damage to the gold banks, and not to gold bullion itself.

Nothing will unnerve the paper gold shorts more quickly and do more to undercut their confidence than to strip them of the real metal and force them to come up with more hard gold bullion to make good on deliveries. “Stand and Deliver or Go Home” should be the rallying cry of the gold longs to the paper gold shorts.

Sinclair’s full alert is below:

We already know that an ounce of Silver is not worth the $23 that COMEX says it’s worth.  No, buyers-investors-scared fiat rabbits are paying more…30% more for the real, hold in your hand “stuff” that COMEX is so badly underpricing.  Let me go back to the beginning, what is an ounce of Gold or Silver worth if and now when an ounce is not available?

The old saying goes, “there’s no rush like a Gold rush“.  This saying always speaks to “greed”.  The coming Gold rush with its roots in “fear” will be unlike anything before it because in reality it will be an all-out, all-encompassing global bank run!