jim-sinclairFrom Greg Hunter:

In perhaps the most important interview of the year, Legendary gold expert Jim Sinclair warns,
“Markets do not exist anymore – and you can’t time what does not exist.”
Sinclair contends a huge transition is underway, and the old system cannot be fixed. A new one is on the way, and the old one is going to end with a bang. 

The over-the-counter derivatives have grown massively beyond world money availability. This has no precedent.  We have killed capitalism.  IT’S OVER…

Here we go again.  The second Bush administration successfully used propaganda and spiked intelligence to fabricate vastly exaggerated claims that Saddam Hussein possessed an active weapons of mass destruction program right up to the US invasion of Iraq.
Now, the Obama Administration and allies (Germany, in particular) appear to be setting the stage for outdoing Bush administration lies… 

To understand how the American people find themselves trapped in today’s Orwellian dystopia of endless warfare against an ever-shifting collection of “evil” enemies, you have to think back to the Vietnam War and the shock to the ruling elite caused by an unprecedented popular uprising against that war.
While on the surface Official Washington pretended that the mass protests didn’t change policy, a panicky reality existed behind the scenes, a recognition that a major investment in domestic propaganda would be needed to ensure that future imperial adventures would have the public’s eager support or at least its confused acquiescence.

When the White House didn’t like her reporting, it would make clear where the real power lay.   A flack would send a blistering e-mail to her boss, David Rhodes, CBS News’ president — and Rhodes’s brother Ben, a top national security advisor to President Obama.


Jay Taylor joins Eric Dubin & The Doc this week for a power-packed show discussing: 

  • Jay compares where the current gold & silver bull market is at, and advised investors that: In 1980 we had a massive stampede- a mania in gold.  We haven’t seen anything like that yet!
  • Endless happy days, a deflationary Greatest Depression, or a hyperinflationary collapsewhats coming for the US in the next 3 years? 
  • With gold crushed yet again on the Fed minutes’ release, Jay explains why the Fed’s con artistry is to keep people disinterested in gold with routine horrendous smackdowns 
  • Why Taylor believes the next leg up will be bigger than the 1970’s bull market, and will be the biggest percentage move in gold EVER!
  • Jay digs into Austrian economics discussing exactly how we’ve left the gold standard for a PhD standard, and explains why fiat money allows those who control the system to steal from those who create the wealth

The SD Weekly Metals & Markets With The Doc, Eric Dubin, & Jay Taylor is below: 

barbaric relicJim Rogers on whether he agrees with mainstream economists purporting gold as a “barbaric relic”:

 It does not matter what they or I think. The majority of mankind has accepted it for centuries and will continue to do so. I had rather go along with the vast number of “barbarians” than a few Ivy League professors.

Gold manipulationGood evening and welcome to the business magazine Makro.  For many people, the purchase of gold represents a safe reserve for bad times.  No wonder that, at the height of the financial crisis savers were queuing up at gold dealers. Throughout history, gold has served as a promise of reliability and stability. 
But today there are considerable doubts as to whether that promise remains valid, because an examination of gold prices reveals machinations fit for a financial thriller.
Gold is the opponent of debt based moneys, i.e. currencies, and in particular the US Dollar. Therefore, the US Federal Reserve has an interest in a weak gold price, and the US government protects the manipulation of the gold price by the private banks.
For years, the US Federal Reserve has served as the lender of last resort. Gold must be weak if a loss of confidence in the US Dollar is to be averted.   It has been difficult to prove that this is a rigged game with a stacked deck, but if the gold market manipulations are indeed encouraged in addition to being condoned, that would explain why oversight bodies have thus far turned a blind eye to it, despite years of massive conspicuous activities in the futures markets, as with the gold fixing in London.

Ladies and gentlemen, it is perfectly clear that gold prices are headed south – and in a big way.
For those of you who trust pictures, I have included a graph of gold prices since 1975.
As you can see – it is perfectly clear – repeat – PERFECTLY CLEAR – gold prices have NOWHERE to go but down, down, down.

Jamie DimonFor the past several weeks, we have shifted focus on what we see as the truer “story” of the PMs market, [Precious Metals].  Some may think we have gone off on an unrelated tangent talking about the elites and fiat currency.  The PM community has maintained a relentless focus on how much gold is being imported by China, the diminishing supply of physical gold at COMEX and LBMA, and a host of other popular statistics that support what seems to be important for gold and silver adherents in their beliefs that should ultimately lead to higher prices. 
The Law of Supply and Demand is what determines price.  Not enough are looking at how the elites are able to distort that Natural Law and bend it to their will.  It is the power they can exert, and distort, on any aspect of human life, at least in the Western world, that keeps gold and silver at unnaturally low prices.  The more cogent issue is, for how much longer can elites keep their unnatural control over the natural forces of Supply/Demand?

Chinese goldThe monthly non-farm payroll report has become perhaps one of the biggest tragicomedies manufactured by our completely fraudulent Government/Wall Street/financial media fairy tale factory.  The report generates as much anticipation, speculation and discussion as any of the economic reports released.  The week leading up to the release of the report is spent discussing and analyzing the numbers that are forecast by Wall Street’s brain trust, including the numerous last-minute revisions.  Friday, for instance, with an expected headline print of 206k jobs created in March, CNBC’s Joe Kernan tried to heat up the anticipation even more  a minute before the release by exclaiming “some of the whispers are expecting a three-handle” (meaning over 300k jobs).
The complete tragic irony in all of this is that the employment report is probably the most deceptively fraudulent reports produced by the Government.

fiscal cliffWe are now in the 5th year since the “official” end of the Great Recession.   Numerous indicators of the state of the U.S. economy point to a non-recovery:

  • The participation rate is low and supported by baby boomers working more or coming out of retirement.
  • Students (the future labour force) are defaulting on their loans in record amounts.
  • Disposable income is still below its pre-recession level.
  • An ever increasing share of disposable income is being spent on health care, crippling discretionary spending.
  • Higher interest rates are further depressing discretionary spending (home and auto sales).
  • All of which is resulting in anemic business and economic activity.

Claims that the U.S. economy is suddenly rebounding have been made before. They are misleading at best and fallacious at worst. It would not be surprising to see further deterioration, which would force central planners to initiate additional unconventional intervention (i.e. Quantitative Easing).

ObamaThe Government is lying through its teeth to us about the Ukraine situation. It’s amazing how quickly CNN and Fox News seem to have misplaced the Victoria Nuland phone tape discussing the $5 billion the U.S. has “invested” to foment the unrest over there. You know, the one in which she says “F_CK the EU.”
The Government also lies about the employment situation in this country. We saw the most recent example today with the Bureau of Labor Statistics monthly employment report claiming that the economy generated 175,000 jobs in February.   The BLS claims that the construction industry added a total of 55,000 jobs in January and February. Yet, we know from homebuilder reports that housing starts have been tanking. And what about the “bad weather” narrative. If housing starts declined over the period and bad weather prevented this, how on earth is it possible that profit-seeking businesses hired workers?
The most frightening part about all of this the fact that the Government finds it acceptable to lie to us about everything.   The U.S. Government has become as corrupted and self-serving as was the old U.S.S.R Government that many of us grew up fearing.   The lack of fear about what has happened in our own backyard is truly stunning.

stacked coinsOur narrative is a simple and honest one:  we are ordinary people who care deeply about taking care of our families and we work very hard to do so.  Unfortunately, when we try to save our money to do this, we are thwarted at every turn.  We see a profligate government determined to promise everything to everyone and spend without limit, we see endless Quantitative Easing by a central bank determined to devalue our currency, we see an ever declining real value of pensions and paychecks, we see a decimated middle class losing 30% of its net worth in just five years, we see interest rates on our savings approaching zero, and we see a wild west stock market that no sane person should trust their entire future to.
So in our efforts to protect our families and our financial futures, we invest in something tangible, valuable, and (over time) stable.  We store a portion of our hard-earned value in gold and silver.  And we aren’t going to be dissuaded from protecting our families by the insults of cognitively challenged TV hosts.
We are going to keep stacking. 

Harken, if you will, to the glorious days of times gone past when the stimulus flowed like honey and the unicorns of government-created prosperity roamed the land dropping their spoor of jobs and skittles hither and yon.
Those were the halcyon days, where every newscaster breathlessly intoned that the Green Shoots of economic recovery were popping up all across the country like some kind of genetically engineered super-weed of wealth.
Little Timmy Geithner, flitting from news show to news show like a diminutive pixie of prosperity, was endlessly repeating the magical words in that child-like voice of his: recovery… recovery… recovery...
Yes, it was 2010. The fabled and legendarySummer of Recovery.  I recall its radiant splendor as if it were just four years ago.
The official unemployment rate, which everyone claims as the cornerstone piece of evidence for an improving economy, is only falling because the BLS fails to count discouraged workers who drop out of the labor force every month, pretending instead to the fiction that these people have found work.  Without this pathetic sleight-of-hand, unemployment is actually solidly in the double digits and has not appreciably improved for years now, despite trillions in deficit spending, ZIRP, the various QE’s, MBS purchases, POMO cash, etc.  Recovery my ass.
We should never forget:  The media was wrong, the economists were wrong, the administration was wrong, the Keynesians and their central banks were wrong.  Gold and silver were right.  And they will be again.  Stack while you can.

economic collapseSo I logged-on to the Yahoo finance page the other day and I came across a main page headline that was a genuinely perfect specimen.  No, it wasn’t the “Eight Hottest NFL Wives” or “Superfood that boosts your sex drive” that caught my eye.  The headline I read, carefully placed in the dead-center of the page to draw your eye, blared “THE LESSONS OF GOLD’S COLLAPSE”.
Intrigued by the fact that a 29% pullback in 2013 after a monster 500% twelve year bull run could be called a “collapse”, and wondering what sage lessons I might learn from this, I clicked… and was treated to such an outstanding example of a drive-by hit piece that I thought it would be fun to outline all of the techniques used in this article, and frankly many MSM articles, on gold.  I think there are actually some valuable lessons to be learned from this thing, but I doubt they are the ones the author wanted me to take from it.  So rather than take apart the mistakes of the article one by one (which was largely done in the comments section of the piece by some of the more informed readers), instead let’s examine the standard characteristics of a pedestrian MSM hit piece on gold.

gold MSM MopeFor those wondering whether Tuesday’s outside reversal off of gold’s June lows will mark the bottom of the 2+ year decline in gold and silver, Yahoo Finance has news propaganda for you: gold is going down for another 18 years!
Gold is pretty ugly- down over 30% year to date.  Do you look at gold here or just stay the heck away from it?
David Nelson: “I can’t find alot of reasons to like gold, you should avoid it.  The whole inflation argument that QE was going to cause inflation and hyper-inflation has been blown out of the water…If you go back and and look at the last bear market in gold, it took 20 years for it to bottom! Even if you think this might be a bottom, we’re only a couple of years into this.  You could be 5-6-7, even a decade early! Finally, the advent of virtual currencies like Bitcoin are a negative for gold buyers.
Can you smell the MSM desperation in the air?