I Wonder What This Means?

October 17, 2013

SHOCK CLAIM: CHASE Bank Limits Cash Withdrawals…
Bans International Wire Transfers On Some Accounts… Developing…

Buying gold??? I suppose you want to use untraceable cash … Buy real coins.


Gold Breaks Above $1,400

August 24, 2013

It seems the crossing of the Maginot 100-day moving average combined with Jackson Hole chatter and the dismal new home sales data has set the precious metals ablaze once again. For the first time since early June, gold has crossed the psychological $1,400 level (up 18.5% from its 6/18 lows). We suspect the still-unprecedented short-interest in COMEX gold futures may well be feeling more heat here (having fallen 40% in the last 5 weeks)…


JPMorgan Advises To… Buy Gold?

August 17, 2013

JPMorgan Advises To… Buy Gold?

With the ongoing musical chairs at the COMEX (focused on JPMorgan’s volatile holdings), the bank’s precious metals team now sees a number of reasons to be long gold. Noting the market’s shrugging off of Paulson’s unwind (“delivering an exclamation mark to define the end of the fall in gold stocks”), JPMorgan (ironically) suggests the questionable price action in the paper markets in light of unprecedented physical demand combined with the seasonal positives (and physical supply restrictions) all points to “getting long the gold space,” with gold and silver miners offering value. The question remains, given that none of these are ‘new’ facts, why the change of heart now (especially as JPM is also buying)?



July 19, 2013

He was testifying today to the House testerday … Bernanke Ruminates On “Incomprehensible” Gold Prices

One of the better exchanges today, discussing a topic near and dear to Bernanke’s heart – gold:

  • Bernanke says if he stops printing moeny, the economy will tank

Whoever heard of an economy dependent on printing money???

Maybe he should note people aren’t stupid, you can’t print GOLD…

Or, even simpler, gold may be lower on more paper gold sellers than paper buyers. In the meantime, gold continues to be in backwardation, but that too “nobody really understands” Bernanke would likely attest. Buy real only …

Our chewing gum and suspenders economy, held up by nothing at all … What is business going to do with all the temp workers.

Gold Premiums Double In India As Demand Outstrips Supply

June 27, 2013

Gold premiums doubled in India on Wednesday as suppliers struggled to meet surging demand after a ban on consignment imports, even as futures prices fell to their lowest in more than a month.




Huh!!! Sounds like “1984”.

From Reuters:

 MUMBAI (Reuters) – Gold premiums doubled in India on Wednesday as suppliers struggled to meet surging demand after a ban on consignment imports, but futures prices fell to their lowest in more than a month as international gold prices fell due to a strong dollar.

India, the world’s biggest buyer of gold, now requires importers to pay upfront for inventory, making it difficult for smaller jewelers with lower working capital to source supplies. The government also raised the import duty to 8 percent in May to keep a lid on the surging current account deficit.

“There may be some demand from jewelers for raw material,” said Bachhraj Bamalwa, former chairman of All India Gems and Jewellery Trade Federation, adding that premiums charged on London prices shot to $20 an ounce on Wednesday from $8-$10 on Tuesday.

“We are unable to supply, though there is demand … we give deliveries after 2-3 days,” said Harshad Ajmera, proprietor of wholesaler JJ Gold House in Kolkata.

Enjoy the gold crash comrades.

Full article here.

17 Signs That Most Americans Will Be Wiped Out By The Coming Economic Collapse

June 25, 2013

The vast majority of Americans are going to be absolutely blindsided by what is coming.  They don’t understand how our financial system works, they don’t understand how vulnerable it is, and most of them blindly trust that our leaders know exactly what they are doing and that they will be able to fix our problems.  As a result, most Americans are simply not prepared for the massive storm that is heading our way.  Most American families are living paycheck to paycheck, most of them are not storing up emergency food and supplies, and only a very small percentage of them are buying gold and silver for investment purposes.

Right now we seem to be living in a “hope bubble” and people have become very complacent. 

They seem to have forgotten what happened back in 2008… 

Read more here


The sinker it in the cards … Free phttt …

Jim Rickards: Paper, Gold or Chaos?

November 14, 2012

The fed is printing money like crazy —  click on the link below and watch the whole interview.

Transcription of Finance News Network Interview with JAC Capital Advisors Partner, Jim Rickards at The Gold Investment Symposium in Sydney.

Here is a key graph…

Lelde Smits:  If you’re as bullish as you say you are, what percentage of a portfolio do you believe investors should devote to gold?

Jim Rickards: I recommend for the conservative investor 10 per cent and for the aggressive investor 20 per cent. A lot of people are surprised at that. They say, ‘You know Jim, if you’re so bullish on gold, why not more, why not 50 per cent or more?’. The answer is, you don’t want to be too much in any one thing. No matter what your view is, there are certain risks associated with over concentration. And, there are other asset classes you can be in to protect your wealth. One of them is raw land, fine art, other precious metals, and you should have some cash.

People are surprised to hear me say that, they say, ‘Boy, Jim you’re the guy who says that these currencies are going to collapse, why would you have cash?’ You might not have it for long, but you might have it for the short run to preserve wealth and it gives you optionality. When you get a little more of it, when you have cash, and you get more visibility you can pivot into these other asset classes. So, I like a diversified portfolio of gold, silver, land, fine art and cash, and I think that will serve you very well.

The interview and video are here.

Full transcript … At link above.

Read the rest of this entry »

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