Submitted by AGXIIK:

Governments are good at two things:  Waging war and debasing the currency.  These two actions are aided and abetted by a central bank.  And thrust into the middle of this morass of printing and war is the common man.    The middle class; the lower class; the common people are ground to dust under the jackboots of the psychopaths, deviants and escapees from insane asylum.

Richard Nixon committed the greatest  financial crimes of the last 2,000 years, one that will go down in history as the most vicious since the Roman empire began debasing their precious metal currency. Nixon will be regarded as the 20th Century’s Diocletian.  He took this country; our country, off the gold standard.  And thus began the decline and fall of the USSA Empire.
The tragedy following  this act has resulted in continual and unrelenting war with a Defense budget that cost a minimum of 25% of the entire Federal budget.  And who paid for it?   We, the long suffering middle class. 

Submitted by AGXIIK:

Chaz Napolitano is off her rocker.  TPTB are hell bent on turning this country into an English speaking version of the East German Stasi spy state,  complete with recruitment of every citizen in every apartment building on every block told to report on their neighbor, or else.

Wait until the 53% of this nation’s population receiving  federal benefits are told they must produce reliable leads in order to get their monthly rations.  You’ll soon see people willing to do anything to keep the goodies flowing.  This system worked like a charm for decades in the USSR, Cuba, North Korea and Red China. 

By SD Contributor AGXIIK:

The price of silver is inelastic.  The price of silver has little bearing on its utility.  At $33 an ounce, it is still very cheap as an industrial commodity.  As vital as silver is to the solar, electronic, medical and clothing industries, the amount of silver used in any product is nearly infinitesimally small.  A smart phone uses no more than .2 grams of silver. That amounts to pennies of silver per item.  A solar panel uses 20 grams, about $20 per panel and those panels will absorb 6% of the entire world’s supply, 60 MOZ   There is no replacement to silver in that use and the solar use of silver in China, Japan and India is set in stone.  They are crying for energy that is not hydrocarbon based.
If the world’s supply/production of silver is 1 billion ounces that’s $33 billion.   We spend more on dog food and manicures than this world supply of silver.  If silver tripled to $100 an ounce, would we blink a second that silver prices bumped the cost of a smart phone by 20 cents?  I don’t think so!

Source:Economist Online

Submitted by SD Contributor AGXIIK:

JPM is about to lose it all with their bad bets on the IR swaps, CDS, derivatives and other manipulative profit centers. They will be destroyed, of that you can be sure, right along with the many other major banks.  This is inevitable and Bernanke knows it.  QE 3 is worthless to anyone but the money center banks.

There is not enough money in the world or the Fed to stop this.  QE 3 is nothing but a delaying tactic since Bernanke has NO AMMO LEFT.  NOTHING!   He is little  more than a drowning man trying to save himself and his notion of the economy by climbing on to the shoulders of his rescuers. 
And there are no rescuers coming to save him

Submitted by SD Contributor AGKIIK:

The government has proposed that anyone owing $50,000 or more to the
IRS= no passport.  They are ring fenced in the USSA tax gulag.   Suspicion of tax fraud is cause. The IRS considers you guilty;  innocence no longer presumed.

Soon enough no one will be able to  get a passport.
Any reason or no reason at all will be used to prevent the sheeples and tax slaves from leaving the gulag.   The USSR perfected this system.  We’re just taking a page from their book.
Like they said at the DNC  Convention: We all belong to the  government now‘.

Submitted by SD Contributor AGXIIK:

 

If silver hits $75-100, or scoots well into triple digits then more than just hard core silver stackers will take notice.  We will finally see a real stampede as the general public begins entering the market.

As silver moves through $75 an ounce and the general public finally takes notice, MOPE will be flowing like crap down a sewer to dissuade people from buying.

From AGXIIK:

Until the advent of the FDIC, bank runs and failures meant the client lost everything.  That why they call them “bank runs”.  You run to bank as fast as you can and withdraw your money.  The first one out gets the best deal.  The FDIC is a hollow shell that will not protect a multi-trillion dollar failure.

Allocated and unallocated storage facilities are likely to be stripped of all precious metals and valuablesWhen governments go broke the rule of law is the first thing sacrificed on the altar of saving the people and their way of life.

It will get very interesting when 100 paper golden chairs are surrounded by scores of bankers all trying to get a seat on the single physical golden chair when the music stops

We present AGXIIK’s thoughts on the hiding of your precious metals with one caveat: The Doc does not recommend storing your PM’s in a safety deposit box, as he believes that if the government ever were to conduct a gold/silver confiscation, PM’s in safety deposit boxes will be confiscated, PM’s held in your own possession under your own roof will not.  We encourage all SD readers to chime in on this issue and share their thoughts on the best place to safely store your precious metals.
From AGXIIK:

Where Should I Hide My Precious Metals?
Hiding PM’s is a tough decisions and there is no one perfect answer.

Submitted by SD Contributor AGXIIK:

Dr Willie has advised us that Morgan Stanley appears to be on the ropes.  I’ll weigh in with my observations and some ‘on the ground’ suggestions.
MS failure?   That would explain the 600 CPAs hired at $500 an hour to dive into an unnamed bank  on Wall Street.  No one has named the bank or banks that received a hypo from the Fed in the last month.  It was $800 million and this is the first time since 2008 that the Fed has done a hypo.  Someone was real short on liquidity.

If you are in the umbra of MS your money will be gone ala MFG, protected by the 7th Circuit court ruling
that your money used as collateral is now the property of the creditor.

IF YOU ARE THE FIRST OUT YOU GET THE BEST DEAL.

SD Contributor AGXIIK goes on an all-out RANT:

The hour of reckoning is soon upon us.  So I have a suggestion to those who find the heavy hand of a banker or creditor on your neck.

Tell them not no, but “Hell no!”  No more of my money will go to your corrupt vaultsI did not sign a suicide pact with a gang of thieves who have conspired to rig my rates, to strip me of my hard earned money and consigned my family to a lifetime of poverty.  Hell -No!

If you think my precious FICO means a da*n thing to me you have another thing coming.
Go ahead and destroy my credit rating.  See if I care.  If you think you can kill me with debt I will kill you with non payment.  I will strangle you in your offices with non payment of this wretched debt. You better learn how to eat air, because no more of my money will come your way. None.

Over the past week we have learned of at least 4 cases of large silver purchases (5-10 million ounces) either being flat out refused delivery (such as Ned Naylor-Leyland discussed with 2 large orders from the LBMA), or else experiencing severe delays in fulfilling the order.  This comes as silver has rallied nearly 15% from it’s recent lows near $27.

We would like to officially recognize and congratulate AGXIIK for his foresight in predicting the EXACT TIMING of this sudden supply shortage of silver back in early March, at a time in which the world appeared to be awash in silver.

Reposted in it’s entirety, here is AGXIIK’s March 11th call for a ‘Severe Supply Shortage of Silver in August of 2012‘:

Placing my a** hat on the table in front of me, I predict that silver will go into a severe supply shortage by August 2012 or sooner.
Why?

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.

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

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.

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

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.

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!!

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.

AGXIIK’s commentary on the recent article discussing the massively bullish argements for silver over gold, The Silver Megathrust.I just picked up this article from SGT: The Silver Megathrust It really resonates with me due to my basic studies of the silver shortage I expect to hit sometime the middle of this year. Leaving aside my conviction bias,  the evidence that silver is increasingly scarce in 2012, continuing with  its rarity into the next year or two is clearly shown in the silver supply demand graph presented early in this essay. 

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.