stormMy e-mail box has been filled up this week with panicked owners of gold.
Some who own gold assets have come to the mindset that even though they know precious metals are manipulated, they fear it will “go on forever”. The same goes even for some of the leaders in the gold community, weak knees abound.
The bottom line is this: once the last once of deliverable gold is received, the game will end.

Martin ArmstrongA few years back while opining of a market/financial collapse from behind bars, Mr. Armstrong was adamant that gold would move to $5,000+ per ounce or higher as a result. He called them cause and effect at the time, and stated that gold would be the safe haven from a dysfunctional system.
What has changed?

This is a very important question in my opinion… what has changed and why did this change immediately take place after they sprung the prison doors open?
Did sunlight give him a change of “heart” (and logic) or was the federal “company mantra” part of the key to his release?

The business of markets is dead.  It is going to remain dead, killed by the demons who claimed publicly to have been doing the work of god.
Now these same perverted players are running for cover themselves to save the trillions they have made…

silverBill Holter may not think that you should be shocked about 25% premiums in silver and that “whatever you must pay to get it into your hands” is fine. Personally I can’t see the sense of paying 25% when for a few percent you can buy physically backed pool accounts. -Bron Suchecki

ChinaAs we know so well; over the last two weeks, the chaos in global markets finally reached the shores of Manhattan. Market chaos, that had previously been quite widespread and headlined by China, finally gripped U.S. markets. Now we find out China has exited over $100 billion of U.S. Treasury bonds in just the last two weeks and has indicated it is dumping more through Belgium and elsewhere.
China will clearly no longer fund U.S. budget deficits in the foreseeable future. This leaves us with the misunderstood truth “the Federal Reserve is THE Buyer of last resort.” Worse yet; the Emerging Markets have had to jump the gun and have already started to unload U.S. Treasury’s as their currency falls to reflect lower trade and China’s devaluation of the Yuan.
Apparently, the U.S. has now crossed the Rubicon of sorts and will be forced to “print” deficit spending as a last resort. It is called MONETIZATION and has ALWAYS led to hyperinflation.

plungeFrom Greg Hunter’s
Legendary gold expert Jim Sinclair says what is going on right now in the stock market is just the warm-up act.
Sinclair contends, “This is a pre-crash, and we are not making it through September without the real thing.
The US Plunge Protection Team is losing control of the markets, and Sinclair warns, “They got the dickens scared out of them. They actually backed off providing the funds necessary. . . . That’s your warning. The warning is markets can overrun plunge protection teams. Markets can and will overrun the manipulation of metals and currencies.
The market will overrun the false strength in the US dollar…
Huge changes are coming
The two last men standing will be gold and gold on steroids-silver.”

imagesThe credit bubble has been identified, recognized and “pricked”, the equity markets are only a symptom. Do not be fooled by any strength this coming week, it should be used to raise cash.
As September moves in, the September-October timeframe looks like a disaster.
What may start out as circuit breakers being hit now, will ultimately be the plugs yanked out over the next couple of months. I believe a market closure is in our near term future.

Gold and silver will be your ONLY lifeboats…

vaultI was told years ago by a “famous” trader I was nuts regarding backwardation.  He told me it didn’t exist on COMEX and LBMA didn’t matter.  What possible explanation can be given for the current situation on COMEX (which supposedly “does matter”) where backwardation clearly exists from the August contract all the way out to December?

end“It’s like if in a casino and everyone starts winning, mysteriously either the lights go out of someone pulls a fire alarm …no more gambling!  I think the PPT knew they were going to be overwhelmed, if this were the case and I was the chairman of the NYSE, I would run upstairs and pull the plug out of the wall.  …Problem solved …for now!