I am not certain what is going on in the COMEX because the figures are subject to falsification. The one thing I can say with certainty is the the banksters are doing what they always do when things get dicey.
They resort to the trade I will call:
“THE RACE TO STEAL PENNIES OFF A DEAD MAN’S EYES’
This you can take to the bank…
Last Friday, June 26, was D Day. That was the last day a person in Greece, for all intents and purposes, had the banking freedom we take for granted here in the US. Today the Greek people are now stuck in a burning barn, finding out that the system they relied on is broken. If there is not even a small reset, sometime within a week or two, there will be riots when food and gasoline are gone.
The Greeks had many options before June 26 2015.
One day the stores and gas stations were full: The next day they were empty.
Systems fail slowly at first and then very quickly. You must be aware of the warning signs of systemic failure.
Being 6 months early beats being 1 day late.
I am of the opinion that some of the Greek banks will not open Monday and those that remain open will shut down with a day of opening or at least by June 30. The ECB and IMF are looking at June 30 as the absolutely deadline for full on default, no concealing it any more.
The ELA must protect its position and will likely order a bank holiday and full on capital controls because the bank deposits are now less than what is owned. Collateral is going to be worth ZERO in short order as a Greek default shoots rates to 50-90% on 2 year bonds, just like the last time Greece took the haircut that avoided a full default 2 years ago.
This will precipitate a bail-in as the ELA, along with the troika, will demand full deposit theft to protect this 100 billion euro assets still within reach. Bank holiday will give the troika and ELA provisions time to extract everything they can reach in these accounts. If the Greek central bank does not nationalize the banks sometime between Sunday and Wednesday, the banks will fail and crash, throwing the entire system into chaos.
To create the illusion of power and control, they’ve thrown a web of deception over the people; shielding their eyes from reality. By gradually changing everything we know that’s real and tangible to the unreal and intangible, they’ve been able to slowly build a system where EVERY SINGLE ITEM IS MALPRICED AND MISPRICED.
Everything we see is fog and ghosts, wraiths and wisps of smoke, DEBT and DIGIFIAT that drives everything, creating a skein of reality in a paradigm that exists without substance or reality, a monetary MATRIX that is real and unreal at the same time.
The movie ends badly for those who believe the plot and theme.
Anyone invested in this system of lies will get hurt beyond measure. Those who see the lies for what they are will be able to buffer themselves against the worst that is coming down the road:
Where are consumer prices headed and how this might affect precious metals?
This looks like the beginning of a severe deflationary cycle.
It is going to get worse before it gets better.
The central banks will try to correct this deflationary spiral with further reduce interest rate reductions, massive new doses of QE, moving even deeper into negative territory, a strategy that has proven to be a complete failure.
This does not bode well for any asset class.
Excess cash will not be loaned out, thus cramming more capital into the bank balance sheets, doing nothing for the global economies except stockpiling fuel for a burst of hyperinflation.
Austria’s Hypo Alpo has taken down 3 small banks in Austria and Germany that were leveraged to 98.5% of their capital. 200 million Euro losses killed these extremely leveraged banks. Small losses kill small banks. Large losses kill large banks. There are plenty of large losses in the wings; trillions in fact.
The first horse out of the barn gets scorched least. The fire sale and blood baths will be epic.
The largest ships are leaking from many holes in their hull It’s not a matter of them sinking; it’s how the passengers expire. The few will climb on top of the many before all drown.
Life boats are lacking; most already filled with those prudent enough to get off before the ship sinks.
Silver life boats are in order. Got yours?
As 2015 begins, AGXIIK has shared a heart warming story of his journey to share his gratitude to the Greatest Generation by giving away a Heroes DDay Silver coin to every Veteran of World War II he encounters.
AGXIIK shares his story, experiences, and letters of gratitude received from our living WWII Heroes below:
But silver and its memories have faded over the last 50 years. Silver and coins like these keep those memories alive…
AGXIIK is ready for Ebola:
SD’s AGXIIK recently traveled to Reno, Nevada to meet with and interview Cliven Bundy and family.
The first hand account of the Bundy standoff (including the unreported account of Bundy’s sons courageous confrontation with the Federal forces while lighted up by sniper lasers) is below:
I reviewed the Reno Gun show last August. Click here to read that report. How times have changed, and for the better.
At the 2014 Big Show, dealers had nearly unlimited amounts of all the popular pistol, rifle and shotgun ammunition.
Prices were more than 50% lower than the Reno Gun show of early 2013.
As a matter of fact, with no lines and no limits, the buying experience was fairly routine and enjoyable.
We saw people with dollies full of ammo cases being toted to the exit doors.
The Bad Bankster Perp Pool
How many banksters will do a Perp Walk over the next 3 months?
Submit your guesses below…3 PHYZZ prizes are on the line!!
- AGXIIK on why Ukraine is a stare-down contest between the West & Putin, & what is likely to happen when currency wars devolve into hot wars (there is no safe haven except physical gold & silver!)
- Bitcoin Mt. Gox implosion: isolated event or a warning to Bitcoin holders?
- First they ignore you. Then they laugh at you. Then they attack you. Then you win: Why Bloomberg’s in-depth coverage on bullion banks manipulating the London fix gold price has substantial implications on how close we are to the END GAME
- AGXIIK discusses his attempted firearms up-training of 27 federal high security guards: “They looked like a one-legged monkey trying to have sex with a bagpipe”
The SD Weekly Metals & Markets With Special Guest Host AGXIIK is Below:
With last night’s announcement by President Obama of his new MyRA, the “No Risk, Guaranteed Return” Retirement Savings Bond Program, we thought it apropos to bring back AGXIIK’s November 2012 warning that President Obama had begun a push to confiscate Americans’ IRA’s & 401k’s, and force retirement assets into treasury bonds.
While many have scoffed, we have long warned at SD that Americans’ retirement plans are the last remaining bastions of wealth for the criminal banksters to pilfer, and that they will ultimately be confiscated via forced allocation into treasury investment vehicles.
With President Obama’s State of the Union speech on 1/28/2014, the process has officially begun.
As AGXIIK warned, Please realize that this is 100% about funding $1.5 TRILLION annual deficits using Americans’ retirement funds, as there is simply no other remaining pool of wealth able to soak up $1.5 Trillion in T-bills annually.
AGXIIK’s Full MUST READ 2012 Warning on Obama’s Plans to Confiscate 401k’s & IRA’s is below:
SD contributors including The Doc, Eric Dubin & AGXIIK will once again join SD readers for a LIVE CHAT blog for The Bernanke’s LAST FOMC statement, starting at 1:45pm EST!
Will Bernanke continue the taper before Yellen steps in, or hold serve? Discuss the event with the SD community LIVE!
I’m going to clear the air on this matter. For over 2 years I’ve been writing about the impending federal takeovers of pension plans.
10 countries in the Europe and South America have engaged in pension theft, conversion or expropriation to fund government operations.
It is quite likely that we will see more of this theft in 2014, and before the financial crisis is over, probably from the TSP.
The brokerages will be completely compliant with these actions just like the Bail-in provisions signed by the FDIC, FED Bank of Canada and BOE, as was reported here on Silver Doctors in 2013.
Like Detroit with its complete expropriation of the $11,000,000,000 in pension plan funds, the Feds will use the $1.6 trillion in the TSP as they see fit. They are patterning this on Poland and the NDRP. Poland recently confiscated 28 billion in Euros to reduce their country debt to 56% of the GDP.
The government simply took the funds from the private and government pension plans WITHOUT ANY COMPENSATION.
Surely that could never happen here!
The coming move and mania in silver will be breathtaking and will resemble the Tulip & recent Bitcoin manias.
Silver might take 10 months to peak and 2 months or less to retrace much of its price increase. It might be a $100 billion market in the US.
The market will be completely overrun and choked with silver, yielding an inventory that might not bleed off for years. The price rise will be fast; the drop will be fast was well. That’s the way this always happens when smart money gets in first and dumb money comes in last.
Getting out at that inflection point will be a doozy; the ride heady. Nearly everyone will be sucked in with dreams of becoming silver millionaires. Those who bought at $30-40 will be vindicated.
The price rise will be a Rhino Horn in shape. When the price increase hits about 80 degrees from the horizontal axis, the peak will be reached in short order. It will look a bit like the national debt chart of the last 60 years. Parabolic and then some.
The price peak will be reached. Check your heart at the door as the euphoria will be intoxicating and dangerous for your financial health.
Taper or No Taper? Will the cartel attempt to smash gold & silver below the June 28th lows of $1179 and $18?
SDLive debuts as an Open Interactive Thread for SD readers to discuss the day’s events, Bernanke’s last FOMC Press Conference, and the reaction of the markets.
The Doc, Eric Dubin, and AGXIIK will be covering the news and chatting live from 1:30-3pm EST!
Taper/No Taper Open Thread-your chance to interact directly with The Doc, Eric Dubin, & AGXIIK!
Since June of 2012 I’ve been talking about Iran circumventing SWIFT and though it hurt their economy, initiating devastating inflation and great harm to the Iranian people, Iran has taken the hits from the sanctions but founded what could now be called the PETRO GOLD system. It’s allowed Iran to sell oil to China, India and Japan for gold.
Iran was able to ship oil in shadow tankers, GPS turned off, receiving wheat, edible oils and gold in exchange. Dubai was a laundering point for the gold along with Turkey as a transhipment point the gold payments.
Iran proved this system worked and it dovetails nicely into China’s plans. This may have been one of the most important puzzle pieces that came out our sanctions.
The jailer may find he is a prisoner of his detainees when sanctions reverse course and bite the US in the a**.
The Dollar’s fate lies in China’s Hand. Gold is the key to this fate. The Chinese Central bank’s fingerprints are all over the gold manipulation story.
The Chinese play the gold players like fiddles, rigging the price of gold lower to take in as much as they can.
Like Sun Tsu said, If you can win the battle without fighting, that is a good war. They’ve not fired a shot. They’ve used our currency reserves to buy up our gold.
The existence of our world reserve currency status will depend on how and when China shows the world what they hold in gold. That report is due in 2014. Once they show the world they have the gold to back their currency, the entire world will flock to the winner.
The fate of the dollar is almost entirely tied to China, its gold holdings and the value of gold once its real value is set.
$50,000 an ounce could become a real figure.
There has not been a peek in Ft Knox for nearly 60 years. Empty of gold? Probably. Or spoken for (rehypothecated) 5 times over and that situation, if it’s a fact, would be a real crap storm since the claimants are probably central banks. Germany’s 300 tons of gold? Pfah. Get lost Merkel. The emperor’s golden threads are just dross. No one will get to see what’s there, move along.
Meanwhile, the Chinese are quietly backing their currency with at least 20,000 tons of gold. Not 10,ooo or 5,000. At least 20,000 metric tons.
A SilverDoctors Exclusive:
I thought I would opine on JS Kim’s recent SD editorial- Breaking Bad With Big Bank CEO’s. You’ve probably read Kim’s work. Many like us lived what he has spoken of in this and other essays. In my experience, what JS Kim writes is very accurate.
I was mid level corporate officer; my name on the annual report; top salesman 4 years; the 4th largest shareholder of the bank, right behind the President, Chairman of the Board and a private investor.
We could have coined the term ‘Muppets’ when referring to our clients. I never recall a single client referred to in a positive manner.
The only thought was how to extract the maximum yield without killing the herd. One stated policy was called “Bump Rate”.
Senior officers referred to that policy when renewing lines of credit. The loan officers jacked the rate when renewing a credit line, knowing that the client would accept that rather than move his accounts.
Many of our office meetings resembled a cross between a carney barker shilling cheap thrills rides and Torquemada questioning his victims.
We hit our clients with the highest rates possible when originating loans. The Preferred Lender Program was our tool to get the deal through underwriting and closed before a competitor was able to reach into our pockets and take the client.
The snarling and gnashing of teeth of bankers fighting over their prey made resembled hyenas going after a wildebeast.