Submitted by AGXIIK:

Here is a  good example of Reverse Gresham’s Law.  China is pushing out the dollar, fleeing the reserve currency of the world while the Euro death spirals into irrelevancy. The wealth of the west is moving towards Asia as China builds a currency backed by gold.

China’s buying up commodities, mines, gold, silver and anything else it can to buffer itself from what it sees as an economic and financial collapse of the West. [Read more...]

Submitted by SD Contributor AGXIIK

California will be the first real Chinese colony on the mainland of the US.  They already have a great foothold in Hawaii. It’s a huge vacation spot for mainland Chinese.   They are helping in Greece and Europe in general since it is their largest market. Their financial commitment will grow in Europe as they buy defaulted bonds and sovereign debt that is secured by the actual property of the government and private property of its citizens.  The Chinese will do the same thing to the PIIGS as California is contemplating doing to underwater mortgage holders.   Expropriating private property that is underwater through debt purchase and then taking over the private property rights of the ‘former’ owners of the homes.  If you have debt on your home YOU DO NOT OWN IT.  The bank owns it and if the bank is Hanmi Bank, Nara Bank, United General Bank or any other Chinese owned bank then know who your next master will be.

As the Chinese Hoover up every ounce of gold and silver and back their currency with real value, they and their allies, the BRICS and SA will shove the US off the cliff as a useless relic of the 20th Century.  [Read more...]

Submitted by SD Contributor AGXIIK:

The choice of presidential candidates today is a choice between debt default in 2022 or 2024. That math is that compelling and incontrovertible.  Every empire in the history of mankind has gone this way.  We will just be one more huge steaming  FIAT cow pie on the historical road to Perdition.
What happens when the velocity of money, now at a depression era lows, accelerates 5-10 times over?   There’s $1.5 trillion in banks. If that is released and with leverage becomes $15 to $75  trillion, we will see inflation, PM values and food prices explode.  Grandma won’t be crapping her Depends over this.  She will be starving. And just because she’s old does not mean she will go down without a fight.

One out of five people in this country don’t have money for food. They are running out money before they run out of month and depend on food banks. These folks live paycheck to paycheck.  The ‘pain at the pump’ will make miserable the lives of the 99% of the people without precious metals. They, like the Portuguese, will be selling their wedding rings for food. [Read more...]

Submitted by SD Contributor AGXIIK

Ann Barnhardt says ‘  If you don’t hold it you don’t own it’
Doc says, ’If you don’t hold it you  don’t own it.
Jamie Dimon and his ilk say  ’If THEY don’t hold it they don’t own it”. They know how it works too.  What’s the difference?
We own ours legally.   Dimon is stealing what he holds.
Whatever laws were once written to protect the consumer and account holder have been erased, just as much of the Constitutional protections have been erased by this and previous administrations.

People will be shocked when they wake up some day and see on the news that their brokerages have seized the $6,000,000,000,000 in IRAs and 401K

[Read more...]

Submitted by SD Contributor AGXIIK:

For the last 20 years I’ve been involved the financing of businesses.  One key part of the process was the   interest rates for business.  In almost all the rates I quoted, whether Prime rate, Treasuries or LIBOR, each had at its source  the basic LIBOR calculations. I found myself explaining LIBOR at length to my clients so they understood how this rate was going to drive their financing costs.

Not once in these conversations from 2002 to 2011 did I realize these rates were rigged and manipulated.

When rates are unfairly manufactured to benefit banks and others in the lending industry, to the detriment of the borrowers, this is both unfair and criminally illegal.
I see a wave of lawsuits so large and overwhelming coming in the next year or so that these legal actions will absolutely dwarf the tobacco settlements that hit  $250,000,000,000.
The loan rate rigging damages are easily in the tens of trillions of  dollars.

[Read more...]

As many of our readers are aware, after discovering that Fidelity charged $420 million in management fees on $430 million in income in his money market account, SD contributor AGXIIK  recently removed his entire IRA from Fidelity, set up an LLC to legally oversee his own IRA, and converted his paper IRA to physical metal in his own possession with the assistance of SD Bullion.

Fidelity made the mistake of contacting AGXIIK Thursday to inquire about his account and whether Fidelity was meeting his needs.
Needless to say, hilarity ensued.

*MUST READ!! [Read more...]

Because it’s Friday….we have a little SilverDoctors’ entertainment for our readers.

AGXIIK has reprised LFMAO’s Party Rock Anthem…

Every Day I’m Stackin Some

Party Rock  Silver Doctor’s Style [Read more...]

Submitted by former banker AGXIIK:

We are right at the edge of the 1 year anniversary of the  April 2011 silver price smack-down.  Without going back and analyzing the charts for every price hit since then, we have had about 6 or so price hits since  the big blast.  Each time it took more ounces of paper silver traded, ranging from 50 to 625 million ounces, to accomplish less and less.  It reminds me of the old saying in the con  game.  A good con artist always goes back to their mark a second and third time.  The grifter knows the con will work again and again because the mark never learns from their  prior mistakes.  At the risk of offending some bankers out there, this same philosophy and manipulative psychology exists in banks.

A bank today is basically a sting operation. [Read more...]

AGXIIK provides a summary of Bank of America’s finances as its stock makes a $4 handle.

Estimated real value of mortgages marked to market by Bank of America? Loss of $150 billion
I guess ‘marked to market‘ is not a very popular phrase around the BOA board room…
I did a quick analysis of Band of America financials and stock price. [Read more...]