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Silver Market Roller Coaster & QE∞

Today's Gold/Silver Ratio: 51/1 SAME

Issue 136

Gold: $1770.500/ Silver: $34.68

SGS Notes: Well, it's been another eventful week... if you had been watching silver prices this week, you would have seen the roller coaster we all experienced. I rarely write the SGS Newsletter main article(s), preferring to allow the 'experts' to speak since they can do it far better than I. However, I'd like to provide the following commentary to try to explain in simple terms what we saw happen this week, and some of the implications, taking information from the variety of sources I peruse daily.

Silver Market Roller Coaster & QE


Monday 10th -
Our week started out with silver spot at $33.69 as the market opened Sunday evening, and Monday was pretty uneventful closing at $33.51.... the calm before the storm.


"Everything going on these days behind the scenes is interconnected to the take down of the 'Bad Guys'. From the US elections to the European situation to the silver market volatility - it's all interconnected. It is all an orchestrated play that is coming to it's climax. OUR TIME is approaching fast and this go-round there is no stopping what is to come." Bix Weir 9/10

(See 'The Planned Silver End Game' at right)

Tuesday the 11th Monday was followed by a volatile day on Tuesday the 12th. Prices fluctuated all day in a $.40 range... and finally cloased the day at $33.62.

Tension is mounting as the world awaits the speech & anticipated announcement by Ben Bernanke on Thursday.

 

 

 

Wednesday, the 12th all is still fairly quiet when WHAM! around 10:30 a.m. EDT, we have an abrupt downturn of $1.
If there was any doubt in your mind about the silver market manipulation, this week's activity should lay it to rest.

Wednesday's smackdown by the manipulators is on record for all to see. How does a naturally occurring market make a instantaneous drop of almost $2.00, then rise $1 within the hour ???

So what was happening?

One of the favorite tools of the manipulators is to do a quick massive sell-off, which triggers the stop-losses of other investors and floods the market, thereby causing a sharp downturn in price. At the bottom of the downturn, they use the same money to buy up more positions before equilibrium returns. When you are dealing with millions of shares, $1 in price can make a big difference.

Remember we've been hearing how JP Morgan (primary culprit - there are others) holds a massive naked short position in silver derivatives.

Wednesday, I got this from Bix,

" Just a heads up about the Fed announcement tomorrow...

WATCH FOR A BACKFIRE!

I don't know what that backfire will be but in the Road to Roota Theory the Fed will have to be blamed for the global monetary meltdown. It may be the announcement of some form of QE3 as that would be something that is very visible.

Whatever comes from the announcement watch for the global meltdown to increase in speed over the weeks following."

Thursday, the 13th

Bernanke announces QE to infinity...

Bix's comments:

"No limits. No end date. This is QE to INFINITY!

Make no mistake...this is all on purpose. This is the END GAME and the blame for the global meltdown will be placed, rightfully, on the shoulders of the Federal Reserve.

Basically, the Fed has chosen to FALL ON IT'S OWN SWORD!

The Gold and Silver move upward has caught all the shorts off guard. The Bad Guys are in deep, deep trouble as they took their cues from the likes of Jeffrey Christian and Jon Nadler who were advising EVERYONE to short gold and silver. Now it gets exciting!"


Silver had a small drop right before the announcement, then a huge leap of $2.00 where it broke through the $34 ceiling almost reached $35 before dropping off a bit, and continued on almost flatlining throughout Friday.

What was the final outcome of the week? Check out this week's COT Report (at right).

"Clearly, the commercials were preparing for a massive raid on Thursday, until Bernanke dropped their pants by announcing QE." Watch for the upside in silver in coming weeks ahead.

Bix Weir is looking for a major CFTC announcement this month on the imposition of position limits, the beginning of the derivative implosion, followed by a silver 'moon shot' in October.

 

Other Articles      


The PLANNED Silver End Game
Bix Weir

Silver COT Report

German Court Caves to Euro-Zone Hyperinflation

Jeff Nielson

Bernanke Defends Unlimited QE, as Market Goes Wild

Business Insider

FED Press Release

Ron Paul is Right; the FED and Lunatics that run it is the heart of the problem
Zerohedge

Where Does Money Come From?

China Launching Gold-Backed Worldwide Currency

Judge says $80M Gold Coins belong to the Government

 


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Videos      


GATA's Bill Murphy on
the JP Morgan Silver Shortage
and the next Bullion Bank Run!

 

John Williams (Shadowstats)
Sell-Off in Dollar Should Evolve into Hyperinflation

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How Your Bank Account Could Disappear ~ Jeff Nielson
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Today's Gold/Silver Ratio: 53/1 DN

Issue 136

Gold: $1681.80/ Silver: $31.26

SGS Notes: You may have guessed by now that one of my favorite commentators is Jeff Nielson, Senior Precious Metals Analyst for BullionBulls Canada. I'm featuring several of his articles this week because he has always been so 'spot on' with regard to this market…and I love how well he is able to articulate these concepts so that anybody can understand without having their eyes gloss over!

How Your Bank Account Could Disappear
Jeff Nielson

On the same morning we hear that ¼ of Wall Street executives think that fraud is a necessary part of "doing business" in the financial sector, we hear of a second "MF Global". The U.S.'s so-called regulators are now reporting that somewhere around $220 million in customer funds is "missing" at a financial institution known as PFGBest; once again closing the barn door after all the cows have run off.

With at least one out of every four bankers at U.S. Big Banks (that's how many admitted to being crooks in the survey) thinking that stealing is part of their job descriptions, it's very important for people to realize how little protection there now is between these thieves and your bank accounts. Based on the writing of a number of other individuals with more expertise in these markets, it is apparently an inherently fraudulent banking process known as "rehypothecation" which is allowing the mass-plundering of accounts at U.S. financial institutions, with other Western financial regulatory authorities also rubber-stamping this relatively new form of bankster crime.

Rehypothecation is a heinous practice permitted by the pretend-regulators of Western markets, where financial institutions are allowed to pledge their clients' funds as collateral to cover their own gambling debts. I say "inherently fraudulent" since few of the clients of these financial institutions would ever knowingly enter into contracts with these gambling-addicts where their cash could be used to cover their bankers' gambling debts.

Instead, what is happening here is that the rehypothecation clauses are being buried in the "small print" of these contracts and (obviously) never properly explained to these clients: seemingly textbook fraudulent misrepresentation. The only "advantage" to a client into entering into such a contract is a slight reduction in fees, or slightly improved interest rate - certainly not near enough to entice people into risking some near-100% loss insuring someone else's gambling debts.

So we have our "regulators" (i.e. the only protectors of our funds in the hands of these admitted thieves) giving these fraud-factories the green light to enter into these inherently fraudulent contracts, putting any/all funds of these clients in permanent jeopardy. Thus it's important to outline how this could happen with ordinary bank accounts.

First it must be noted that the Corporate Media (loyal friends of the Big Banks) are referring to this as a "brokerage" problem. Understand that a brokerage is nothing but a legal "bookie", an entity which takes (and makes) bets, and which must hold the funds of its "customers" in order to do business. Apparently the principal difference now between a "legal" bookie and an "illegal" bookie is that an illegal bookie is much less likely to use his customers' funds to cover his own bad bets.

What people must also understand is that the world's biggest bookies, indeed, the biggest bookies in the history of the world are the Big Banks themselves (specifically U.S. Big Banks). Most of their gambling is done in their own, rigged casino: the $1.5 quadrillion derivatives market.

Note that you won't see that number quoted by the Corporate Media (any longer). As concern about the size of the bankers' mountain of bets grew; the bankers asked the Master Bookie - the Bank for International Settlements - to change the "definition" of this market, and instantly the derivatives market shrunk to 1/3rd its former size.

As many know, the BIS is known as "the central bank for central banks". What a smaller number of people know is that this is the world's great money-laundering vehicle, an entity created just before World War II specifically to allow Western industrialists to continue to do a vast amount of business with Adolph Hitler. In other words, it's not exactly a reliable source for information. So I choose to use the same numbers that the banksters previously used themselves, before they started getting defensive about the insane amounts of their gambling.

We are being led to believe by the Corporate Media (another unreliable source) that this problem is only a risk for all individuals with "brokerage" accounts, however as we piece together all the pieces of the puzzle (already revealed) this is what we see before us:
1) Our banking regulators knowingly allow financial institutions to engage in recklessly misleading (if not outright fraudulent) contracts with their clients, through the use of complex "small print" in their account contracts with clients.
2) The three largest U.S. "banks" by deposit (JP Morgan, Bank of America, Citigroup) have made bets in their own rigged casino, which total well in excess of $100 trillion, an amount which completely dwarfs their total, combined deposits (and assets).
3) A large portion of those bets occur in the $60+ trillion credit default swap market. Pay-outs in these markets can (and do) exceed 300 times the amount of the original bet. It is bets in this market which "blew up" AIG, requiring more than $150 billion in immediate government aid.
4) Following the Crash of '08; these same banks mooched a package of hand-outs, tax-breaks and "guarantees" (i.e. future hand-outs) from the Bush regime in excess of $15 trillion, the last time their gambling debts went bad on them - and all of these banks have been allowed to dramatically increase the total amount of their gambling since then.
5) It would take only a minor change in the gambling contracts in which these bankers engage to allow their creditors to seize funds out of ordinary bank accounts.
6) The existing language for the bank accounts of these U.S. banks is possibly already so vague (and prejudicial to clients) that it would allow these banks to reinterpret the terms of these bank accounts - and allow rehypothecation to be used to rob the holders of ordinary bank accounts, people who themselves make no "bets" in markets whatsoever. Alternately, customers could be blitzed with an offer for "new and improved" bank accounts, where terms allowing rehypothecation are slipped into the contract, with the banks knowing that the "regulators" will do nothing to warn account-holders of the gigantic risk they are taking.

The same media apologists who would scoff at this suggestion are the same shills who claimed "there could never be another MF Global". Meanwhile we have the biggest gambler of them all, JP Morgan, just confessing to having made more of these bad bets - which continue growing larger by the $billion.

When we add-in the fact that the U.S.'s mark-to-fraud accounting rules mean that these banks are easily able to hide the level of their insolvency, the pretend-regulators apparently don't have the slightest idea of the level of risk to which account-holders are being exposed. This is the charitable explanation for these facts. The alternative interpretation is that these "regulators" are direct accomplices of the criminal banking cabal.

I have consistently referred to the U.S. financial sector as a "crime syndicate" for several years now, often drawing considerable criticism for supposedly hyperbolic rhetoric. Obviously I have been completely vindicated here. One quarter of these bankers are now confessed thieves. The pretend-regulators (notably the SEC and CFTC) on a daily basis rubber-stamp the banksters' acts of fraud (where they are caught red-handed) - handing out totally trivial fines, and not even requiring these thieves to admit their guilt.

If there are any substantive differences between how the U.S. financial sector is allowed to operate versus any generic definition of a "crime syndicate", it would be enlightening to hear what those (supposed) differences are. And now these thieves are closer than ever to simply reaching into peoples' bank accounts and grabbing every dollar they can steal.

The principal reason why I and others have urged people to convert their banker-paper to gold and silver in the past was the 1,000 year track-record of these bankers' paper, fiat currencies always going to zero (through the bankers recklessly diluting these currencies via over-printing). However, we can add to that a much more basic reason: every ounce of gold and silver which you purchase (and store in your own home "safe" or other secure location) is wealth which cannot be stolen by the banking crime syndicate. This is what commentators are really referring to when they speak of "counterparty risk": placing your future financial security in someone else's hands.

What the large financial institutions of the 21st century have taught us (through the cruel "lessons" of their serial crimes) is that there is no one in the world whom you can trust less with your money than a banker.

Other Articles      


$150 Silver Price: This Will Happen
Dominique de Kevelioc de Bailleul

Central Banks Buying Gold Like it's 1965
SeekingAlpha

Chinese Gold To Double in Value with Basel III
Capital Metals

Morgan Stanley Faces Imminent Failure & Ruin
Jim Willie

Lindsey Williams Interview 8-24

Gold, Silver, A Collapsing Global Economy & Panic
John Embry

Investors Assets To Be Stolen In The Coming Collapse
Egon von Greyerz

How To Survive The Coming Chaotic & Catastrophic Markets
Robert Fitzwilson

Gold & Silver Going VERTICAL After Cartel Raid As Humans Interpret Bernanke's Remarks as QE3 is Imminent
Silver Doctors

Gold & Silver Rally as Dollar Falls
BeforeItsNews


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Silver: Supply & Demand

Silver: Part 2: Investment Demand
Endeavor Silver

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Why You Always Want Physical Everything ~ ZeroHedge

Today's Gold/Silver Ratio: 54/1 DOWN

Issue 135

Gold: $1671.90/ Silver: $30.82

SGS Notes: This week started with a BANG! as we watched precious metals begin their long-forecasted breakout. Gold started the week Sunday night at $1619.00 and closed tonight at $1671.90. Silver began the week at $28.19 and ended at $30.82. Our Gold/Silver ratio dropped from 57 to 1 to 54 to 1… a move in the right direction… but a long way to go before it gets back to its historical rate of 16/1. We've seen big names in the industry liquidating their paper investments and putting funds into gold and silver… Countries like China, Russia, India … all doing the same… More revelations on the financial scandal fronts… and QE3 threatening to upset the dollar… It never ceases to amaze me how many things are linked in to Silver and Gold. Lots of fodder for our newsletter… has been a real challenge to pick which articles to post… if you want to see the 'rejects' go to our Facebook page!

Why You Always Want Physical Everything
ZeroHedge


Submitted by Simon Black of Sovereign Man blog

On the way from San Marino yesterday, I had to stop for some gas near Rimini, a beautiful beach town on Italy's Adriatic coast. As an aside, Italian gas prices are among the highest in Europe… and the world… at €1.77 per liter (almost USD $8.50 per gallon).

Naturally, the vast majority of this is due to taxes. From the € 1.77 per liter, only about € 0.48 can be attributed to the price of oil. Profit margin and distribution costs run about € 0.28. The rest of it (just over 1 euro) is tax. This amounts to an effective tax rate of over 130% on fuel.

Anyhow, when I pulled in to the gas station, I whipped out my American Express card and asked the attendant in broken Italian to turn on the pump. He acted like I had just punched him in the gut, wincing when he saw my credit card. "No… cash, only cash," he said.

I didn't have very much cash on me, so I drove to the next station where a similar experience awaited me.

This is a trend that is typical when economies are in decline- cash is king. Businesses often won't want to spend the extra 2.5% on credit card merchant fees… but more importantly, distrust of the banking system and a debilitatingly extractive tax system pushes people into cash transactions.

You can't really blame them. In Italy there's massive distrust of the local banking system. Most of the banks are insolvent, and the government has already started imposing capital controls by limiting withdrawals in some cases to 1,000 euros.

As a result, many bank customers are facing substantial difficulty in accessing their funds; it's easy to understand why they want to deal in physical cash- the counterparty risk is much lower.

Nobody gives these issues much thought… right up until they get shut out of their account. But these are the real consequences of counterparty risk: anytime your asset is simultaneously someone else's liability, you might have a big problem when tough times arise. This is when physical cash becomes a premium asset.

It's the same thing with gold and silver when you think about it. In the early days of the post-Lehman financial crisis, precious metals prices were tanking. At least, on paper.

Gold and silver contract prices may have been plummeting in futures exchanges around the world, but simultaneously, premiums for physical gold and silver coins were skyrocketing. The US mint was unable to keep up with demand for physical coins, and premiums hit double digits by December 2008.

It was an obvious example of the huge disparity between the paper price and the physical price. And in tough times, the paper price is irrelevant. Physical is all that matters.

Cash is in the same boat. When you look at the numbers, the amount of physical currency in circulation is dwarfed by the digital money supply.

In the EU, the M2 money supply is 8.77 trillion euros, of which only 861 billion is in physical cash… about 9.8%. In the US, the proportion is similar- $10.02 trillion M2 money supply, $1.1 trillion in physical cash. The rest is all digits in a database.

It's a prudent idea to heed this lesson from Italy, for as the banking malaise in southern Europe spreads, cash is likely going to be a premium asset in the rest of the world as well. And it certainly makes sense for individuals to have some holdings of cold, hard cash in addition to physical metal.

After all, if you're only generating 0.0000001% interest in your bank account anyhow, what difference does it really make to hold physical cash? You're not worse off for it, but you'll be a lot better prepared in case something goes wrong.


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Other Articles      


Rothschild, Paulson and Soros All Betting on Coming Financial Disaster
Wealth Wire

Strap on Your Seat-Belt, Silver is About to BLAST HIGHER
SilverDoctors

Fed Court Rules Banksters Can Steal Pensions
InfoWars

Get Your Money Out: "All Legal Bank Deposit Protections Are Now Officially Gone"
Wealth Wire

China Launching Global Gold-Backed Currency
BeforeIt'sNews

Republicans eye Return to Gold Standard
CNBC

Ron Paul's Comments on GOP & Gold Standard


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JP Morgan Is FINISHED!
Bill Murphy, GATA

Part 1: September 12th German Court Decision = COLLAPSE of the Euro Zone

Part 2: A Shortage of PHYSICAL Gold & Silver IS Devleoping

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Precious Metals vs. Commodities ~ Jeff Nielson
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Today's Gold/Silver Ratio: 57/1 UP

Issue 132

Gold: $1616.50/ Silver: $28.18

SGS Notes: If you've been following the prices of precious metals the last couple of weeks, you know that we saw a drop down in the high $26 range… that has been eclipsed this past week by prices moving up over $28. This is just the beginning of what looks like a new move upward in silver and gold prices, according to experts we're reading. And although our focus is precious metals, there are a lot of factors in banking and finance that have a relationship with these monetary metals, which is why we report on economic and other finance news.

Precious Metals vs. Commodities
Jeff Nielson, BullionBulls, Canada


I had the opportunity to listen to an inteview with noted commodities-guru Jim Rogers, which is never a bad investment of one's time.Rogers is both very astute, and a straight-talker; two "commodities" which I'm sure that he would purchase if he could - since both are clearly in short supply in the 21st century.

The central topic on the mind of Rogers' interviewer was Ben Bernanke's farcical testimony before the U.S. Congress. That love-fest had all the interrogative value of spending the day watching Sesame Street. Rogers was also totally unimpressed:

…Mr. Bernanke is going to print more money…I wouldn't pay much attention to the man…He only knows one thing - and that's what he's going to do…

The interview then proceeded to Rogers' specialty: the world of commodities. He remains totally committed to commodities over the long term, rightfully pointing out that as the global economy continues to be drowned in mountains of the bankers' paper currencies, that these hard assets must soar in price - as all that paper collapses in value.

When asked to compare the different commodity sectors, Rogers was also unequivocal. He was most bullish with respect to "soft" commodities and industrial commodities, while less bullish on the monetary commodities: gold and silver (at the present time). It's here that I'm going to dare to differ with Rogers to a degree.

I wouldn't presume to contradict his long-term prognosis on the future of commodities, in a commodity-starved world. In fact I completely agree with him. However, it is over the short/medium term where I believe I detect a small inconsistency in his analysis of these markets.

The inconsistency lies in the fact that Rogers fervently believes (as do I) that we are on the verge of a Flight out of Paper. He ranked the various forms of these fraud-currencies, and said he expected the holders of this paper to soon begin an exodus out of the most-worthless of them - specifically noting the U.S. dollar.

He also observes that once this exodus starts that there will not be enough stable currency remaining in the world for all of the U.S.-dollar refugees (and other paper-holders) to find a home. This leads to the obvious question: where will all those other $trillions go?

Rogers' implicit answer is that this paper will flow into his favored soft and industrial commodities. However this ignores a large and obvious practical issue: the absolute need for functional currency. Once we ditch the last of our banker-paper in favor of holding our wealth in some instrument which actually has value, we cannot simply all load up on commodities.

People are not going to go to their local shopping mall lugging bushels of wheat, barrels of oil, or truckloads of lumber in order to do their daily shopping. However, they will be quite happy to conduct their commerce using silver and/or gold coins, since as a species we have collectively had thousands of years of practice in using this only form of "good money".

What we have here is the world's foremost expert on commodities warning us that we are about to experience a shortage in a "commodity" with which our modern economies cannot function: usable currency. Then there is silver and gold. These precious metals have a 5,000-year track-record of being the world's ultimate "safe havens", because they are the only perfect form of money we have ever been able to devise.

At the same time, thanks to (literally) a century-long propaganda campaign to cause people to forget the true status of these precious metals, gold and silver have never been so under-owned as assets in the history of our species. Even when times are good, people have typically held between 5% and 10% of their wealth in gold and silver, while in times of peril those ratios typically soar.

With entire nations going bankrupt, and with the highly-respected Jim Rogers predicting an exodus out of many paper currencies (such as the U.S. dollar); we have never experienced an era of such extreme economic crises in our entire lives. Yet instead of even holding the "normal" 5 - 10% component of wealth in precious metals, Western investors currently hold only about 1% of their wealth in these assets.

Consequently, with demand/ownership at a temporary and artificial trough just as we are (apparently) about to experience an explosion in demand for these metals; the current rock-bottom prices for gold and silver cannot last. Here Rogers also had some guidance to offer investors.

He noted what is regularly pointed out by myself and other precious metals commentators: in relative terms silver remains a superior value to gold. Rogers based this assessment merely on the fact that the current gold/silver price ratio is sitting at an absurd level of roughly 55:1, as compared to the 5,000-year historical average of 15:1.

This alone implies the price of silver should currently be more than three times the present price, nearly $100/oz. However this ignores 50 years of 'destruction' of silver inventories and stockpiles; the direct consequence of well over a half century of price-suppression of this market - primarily through the extreme and relentless "shorting" of silver by the bullion banks (notably JP Morgan).

We have the world's foremost expert on commodities predicting a shortage of the most important "commodity" for any modern economy: legitimate money, the foundation of all human commerce. We have the two most-reliable forms of money currently being the two most under-owned asset classes on the planet (implying a steep discount in current prices). And we have one of those commodities (silver) priced at a further, steep discount in relation to the other (gold).

This is called "a buying opportunity."


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Other Articles      


CFTC Silver Investigation
Ted Butler

Financial Times' Report That CFTC to Drop Silver Investigation is 'Inaccurate & Premature

Gold & The Perfect Storm That Will Lead to Collapse
Peter Schiff

How To Run A Central Bank With a Gold Standard
Forbes

The Tortoise And The Hare
Jeff Nielson


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The Biggest Banking Scandal
The World Has Ever Seen

Silver Shortage This Decade, Silver
Will Be Worth More Than Gold

FutureMoneyTrends

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Silver Metal Now and a Golden Traveler's Check ~ Dr. Jeffrey Lewis
 
Today's Gold/Silver Ratio: 58/1 UP

Issue 133

Gold: $1584.20/ Silver: $27.37

SGS Notes: Lots of items of high interest in the ongoing LIBOR scandal...just the tip of the iceberg… see this week's major article on US Marshalls Expose Biggest Scandal in History for all the details…
Also, Bill Murphy of GATA in this week's video references connections between the JP Morgan/LIBOR scandal and silver… Keep your eyes open out there!

Silver Metal Now and a Golden Traveler's Check
Dr. Jeffrey Lewis

One of the main advantages of buying silver versus more costly precious metals like gold and platinum is that silver's relative cheapness allows you to buy more metal for the money.
Furthermore, inflation is a reality that eats away at the value of all paper currencies, while boosting the value of hard currencies like silver.

Given the likelihood of ongoing paper currency devaluation and debasement, despite short term perceptual fluctuations in the basket of floating currencies, the U.S. Dollar you are holding today is more valuable in terms of its purchasing power today than it will be tomorrow or a year from now.

Putting Things Into Perspective

If you are skeptical about holding silver or need a way to determine what time frame you should be holding silver for, you can consider the following question:
Given the at least 95% loss of purchasing power in the U.S. Dollar seen since 1913, with the vast majority of that loss of value occurring over the last 40 years, what would you rather be holding one year from now: An ounce of silver or the amount of U.S. Dollars that can currently purchase an ounce of silver?

Now ask the same question over a three, five and ten year time horizon. If your answer is consistently silver, then you really should be stocking up now that its price has retraced substantially from its recently made long-term highs.

This type of analysis allows you to put things into perspective and tolerate the short-term noise as the silver market fluctuates with less anxiety.

Why Choose Silver Over Gold?

Silver is currently preferable to gold for a variety of reasons. One of the most compelling is the price to supply ratio. The current supply of investment grade silver is 1 billion ounces versus 5 billion ounces for gold, while the ratio of metal in the ground is below 20 to 1.
Furthermore, both metals are well below their inflation-adjusted highs, especially when you calculate inflation based on an older, simpler methodology. In fact, silver is even more attractive than gold from this perspective.

Another factor is that silver is actually a more strategic and necessary commodity than ever. Its growing use in electronics, health applications and solar power production assure strong industrial demand for years to come.

Traveling With Silver's Bulk in Emergencies

Some investors who like to hold precious metals as an emergency get-out-of-town card are concerned about silver's extra bulk compared to gold when traveling. Basically, a given dollar amount of silver is much heavier and bulkier than the equivalent dollar amount of gold - so silver is just not as portable as gold.

Nevertheless, silver is not really that bulky relative to its value since a bowling ball made of pure silver would be worth well over $20,000 at $30 per ounce. What else can the average person readily accumulate and store in their house with the equivalent size and value?

Still, if you really need to 'get out of dodge' in a hurry or on foot, it would admittedly be a lot easier to carry only 15 ounces of gold - until you can switch back to silver of course!

Fortunately, investment grade silver and gold share enough properties to make them easily convertible into each other in emergencies. Silver is also easier to spend in small quantities to pay for the necessities of life while traveling.


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Other Articles      


48 Tons of Silver Recovered From World War II Shipwreck
ABC News

LIBOR Manipulation Leads to Questions Regarding Gold Manipulation
Financial Sense

The Return Of The Gold Standard?It Lies Ahead
Seeking Alpha

The LBMA Gold Price Fixing Scheme Is Over
King World News

Silver Undervalued
SilverSeek

US Marshals Expose Biggest Scandal in History
DivineCosmos

House to vote Tuesday on Paul's Fed Audit Bill
Reuters


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A 'Lehman Moment' Will Ensure Gold and Silver Will Soar Again ~ Mineweb
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Today's Gold/Silver Ratio: 57/1 UP

Issue 132

Gold: $1616.50/ Silver: $28.18

SGS Notes: Have had a little 'vacation' from newsletter lately, but events in the silver market and related economy/banking/financial worlds have been mushrooming… This week's newsletter is a 'catch-up' on things going on… what's happening in finance has a direct relationship in the precious metals marketplace… things are heating up on every side… and, with the CFTC gearing up to impose position limits, it won't be long until we see the coming breakout to the upside in precious metals.

A 'Lehman Moment' Will Ensure Gold and Silver Will Soar Again
Mineweb

Be sure that a huge volume of money printing will soon be on the way in Europe, and in the U.S. too, and the gold speculators' long awaited stimulus to drive prices up will at last become a reality.

Nowadays it seems that every time there is inaction, or minimal stimulative action, by the Fed that gold - and silver - take a dive. It appears to be long forgotten by the markets that gold performed extremely well throughout most of its bull run without overt Fed stimulus - but then gold investors on the fringe tend to be fickle animals increasingly overtly swayed by short term pronouncements with little cognizance taken of many of the underlying changes in the marketplace that have to be extremely bullish for precious metals. Not least of these factors include declining gold output in most of the world's major gold producing nations, hugely increasing Chinese demand - and perhaps most of all the fact that the global economy and banking system is teetering on the edge of a cliff with only a slight push needed to make it plunge to who knows where.
In his latest commentary on gold, Jeff Nichols - Managing Director of American Precious Metals Advisors and Senior Economic Adviser to Rosland Capital ponders on gold's performance vis-a-vis U.S. Fed pronouncements. "Gold shed more than $50 an ounce in a blink following last Wednesday's news from the Federal Reserve that America's central bank would not, at least not now, initiate another round of quantitative easing, opting instead for more muted monetary stimulus by extending its "Operation Twist" through year-end"

  As Nichols then notes, "the recent correction in gold and silver prices has some precious metals pundits already writing obituaries for these metals. Last week, gold in New York was off more than three percent, falling from a recent high near $1,627 to $1,570 - just about giving up all of this year's gains and, worse yet, down some 18 percent from its all-time high last September. Meanwhile, silver fell by more than six percent from $28.75 an ounce to $26.90 - and at week's end silver was off some 3.4 percent for the year to date and more than 45 percent from its April 2011 peak."

But, Nichols avers, "This backtracking in gold and silver does not signal a new bearish phase for precious metals prices. At worst, it calls for more patience from investors and savers holding these metals as they await the next major move up in a still very much intact bull market. More importantly, the current weakness in gold and silver prices simply gives smart investors and fearful savers more time to buy the protection and financial insurance offered by these metals."

 

Most long term holders of gold invest in the knowledge that over time gold has proved to be a great wealth protector. In bull markets, yes it can generate short term gains and it is the prospect of these that brings in the speculators and leads to the kind of volatility which is currently affecting the gold and silver markets. Even the out and out gold bulls who predict soaring prices do so not in the belief that gold will provide speculative gains per se, but that fiat currencies will collapse and that say a 50% increase in the gold price will be due, in effect, to a 50% corresponding fall in the purchasing power of their local currencies. Indeed the real gold bulls believe that the increase will be far greater than 50% as fiat currency purchasing power collapses totally.

So what really is the chance of this 'worst case' scenario taking place? Unpleasantly and worryingly near. A sovereign default in Europe would not be purely a local phenomenon but would have global repercussions. A Greek default for example - which ultimately looks to be inevitable - if it happens soon will likely bring down some major European banks with it. The knock-on effect across the global financial system will be far worse with governments finding it increasingly difficult to find the wherewithal to meet their guarantees to major bank investors - and Greece is only a tiny economy. If much larger economies like Spain, or Italy, were to default, the impact on the global banking system would be truly horrendous.

All the European Community is really doing with its Greek bailouts is buying time in the hope that the banks will be able to make arrangements in the meantime to mitigate the impact of the pending default.

And the American investor can't just sit back in the hope that a European meltdown won't affect the U.S. economy and its banking system. It will. The global banking system is completely interconnected and bank failures in Europe will trigger similar failures in the U.S. Like it or not the U.S. Fed will likely need to help out Europe by pumping money into the system to prevent the dominoes starting to fall - a possibly futile gesture in the long term. The next dose of real QE from the Fed may thus not be to prop up the U.S. economy, but the European one too - and could be the biggest injection of new money into the economy yet.

  Nichols puts it succinctly: "The timing of more monetary stimulus from the Fed - and the next major upward move in gold and silver prices - depends either on the economic news here in America (with bad news raising the chances of more quantitative easing sooner rather than later) or an impending financial disaster in Europe."

However he expects a round of QE in the U.S. regardless of the European situation - perhaps as soon as August given the continuing failure of the U.S. economy to show any real growth and unemployment remaining unacceptably high.

Nichols goes on "Despite yet another round of funding for Europe's sickest economies and banks - and regardless of whatever decisions are taken at the European summit this week - the Eurozone will continue to unravel. There's just no way that citizens of the peripheral economies will continue to accept austerity, collapsing economies, rising joblessness, and deteriorating living conditions for years to come."

"Sooner or later, I expect an impending if not actual default by one or another sovereign borrower or failure of one or another major European bank (what some are calling a "Lehman" moment recalling America's 2008 banking crisis) will trigger an unprecedented flood of new money from the Fed, the European Central Bank, and other central banks in Europe and Asia - assuring that gold and silver once again shine brightly."

This is perhaps an understatement. If this degree of monetary stimulation does come about the impact on gold and silver prices would be immense, and way beyond the power of governments, compliant central banks and their banking sector allies to maintain any degree of control of what is seen as the ultimate standard against which fiat currencies are measured.


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Other Articles      


Now the FED gets Dragged into LIBOR-Gate
Zerohedge

BigBanks Craft 'Living Wills' in Case They Fail
Reuters

JP Morgan Trading Loss May Reach $9 Billion
NY Times

One Billion Silver Ounces and 100 Billion Owners
Jeff Lewis

Silver: A Tier 1 Asset for All
Jeff Lewis

Precious Metals Paper Sellers Conveniently Trapped
Jeff Lewis

US Dollar VS Gold: Epic Money Battle
Golden Jackass

We're About to Have the Most Devastating COLLAPSE in World History
Harley Schlanger

Federal Reserve encourages Banks to Hold Gold
Gary North

CFTC Sets Precedent and Lays Groundwork For Ending Silver Manipulation


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'The mob learned from Wall Street': Eliot Spitzer on the 'cartel-style' corruption' behind Libor scam

The Next Crash Will Be A Lot Worse!

 

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Dismal Metals Sentiment - Just What Bernanke Ordered ~ Jeff Lewis

Today's Gold/Silver Ratio: 56/1 UP

Issue 131

Gold: $1570.00/ Silver: $28.17

SGS Notes: We're sending out our newsletter mid-week this issue because there is so much going on right now we want you to be aware of. The JP Morgan news is HUGE… so we are featuring various articles this week about that and the implications for all of us.

There are also things happening in the Eurozone and in Greece that will affect us all dramatically. Hold on to your seats, the ride is about to get bumpy. We're looking for the end of the metals manipulation when physical silver prices detach from the ETC prices… should be soon. We saw silver spot dip below $27 this week, and, looking at the Gold/Silver ratio… it's up quite high - again. Remember: that ratio SHOULD be in the 16/1 range. Still a long way to go.

Dismal Metals Sentiment - Just What Bernanke Ordered
Jeff Lewis

Since the dramatic drops the silver market saw in May and September of last year, prices in the precious metals market have been suffering from an excess of negative sentiment. This adverse perception is weighing on metal prices and keeping investor demand at bay.

Furthermore, although investors have continued to buy physical silver, the overall quantity being purchased has declined significantly, resulting in reduced support for the metal's price.
Nevertheless, the supply of silver is naturally limited by the quantity existing in the Earth's crust, despite ever growing industrial applications for the metal and rising price inflation. This key combination of factors still provides a strong fundamental basis for continuing to hold silver over the long term.

Could Weak Silver Sentiment be Conveniently Manufactured by Central Bankers?
Interestingly, this depressed silver market sentiment picture seems to be the perfect political tool needed during a U.S. election year to lend much needed psychological support to an ever weakening U.S. Dollar in terms of its ability to purchase goods and services.

Keeping silver and other precious metal prices low by depressing market sentiment, and perhaps even engaging in covert market intervention, seems suspiciously convenient after such an excessive amount of liquidity has already been pumped into the U.S. monetary system by the U.S. Federal Reserve Bank's highly controversial quantitative easing measures promoted by Fed Chairman Ben Bernanke.

In addition, given the high amount of liquidity the European Central Bank needed to inject to deal with the debt troubled Eurozone countries like Greece, Spain, Italy, Ireland and Portugal, the increasingly obvious end result will be higher consumer price inflation, despite ongoing denials by central bank and government officials.

More QE Measures Likely as U.S. Economy Languishes in Election Year
Bearish for the Dollar, but very bullish for hard precious metal currencies like silver, is the view among many market participants that further rounds of quantitative easing or QE measures by the Fed are still practically a given during this election year to help lend support to a stubbornly struggling U.S. economy.

Nevertheless, allowing metals to trade higher based on their strong fundamentals would severely dampen the U.S. central bankers' ability to overtly increase the money supply in a substantial way.
EU Moves Toward Ratifying ESM to Provide More Permanent Bailout Mechanism
Another related development is that the European Stability Mechanism or ESM is expected to be ratified by July of this year, provided that enough of the 17 Eurozone member states approve of the bailout system to represent ninety percent of its capital commitments.

This new EU rescue program is expected to permanently replace the existing temporary European Financial Stability Facility within the Eurozone, thereby making meta-government bailouts an ongoing feature of the Eurozone's economy.

As in the United States, a reasonable person can only expect more liquidity increasing measures will soon also follow in the EU, thereby making an even stronger case for continuing to hold and accumulate precious metals like silver.


Does Jamie Dimon's Problem Actually Reside in SILVER DERIVATIVES?

Facts are facts. Since May 7th the price of silver has been mercifully driven down below $30 and on May 10th Jamie Dimon announced a $2B derivative loss. The price of silver is continuing to be driven down which in my mind means only one thing...JPM is losing the physical silver game and having to drive the price lower to get their hands on physical at a price that would reduce their overall losses. Never mind that the paper silver short will increase...this is now a physical game.
A clue lies in the COMEX data that shows that silver is in backwardization!

Bix Weir,
www.RoadtoRoota.com

 

 

Other Articles      

Soros Quadruples Gold Holdings
Wealth Wire

Gold, Money, and the Parable of the Three Little Pigs
Lew Rockwell

The 2 Billion Dollar Loss By JP Morgan Is Just A Preview Of The Coming Collapse Of The Derivatives Market

Full Blown Bank Run In Greece

How The U.S. Dollar Will Be Replaced

This is Why World Markets are Incredibly Unstable
Stephen Leeb

Will See Three Digit Silver In The Next Couple of Years
Stephen Leeb

JP Morgan's Losses A Canary in A Coal Mine?
Bill Moyers


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Bix Weir
JP Morgan Derivatives Book
Blowing Up

Lindsey Williams Part 1
Derivatives Market Collapsing & JP Morgan

Lindsey Williams Part 2
Derivatives Market Collapsing & JP Morgan

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The Banker's New Gold ~ Jeff Nielson
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Today's Gold/Silver Ratio: 53/1

Issue 126

Gold: $1570.70/ Silver: $29.09

The Banker's New Gold

Jeff Nielson
BullionBulls, Canada

In a fresh sign of bankster desperation, we recently learned that they have pushed lease rates for gold to the lowest, negative level in history - i.e. they are paying people more money to "borrow" their gold than at any other time. We know this is a sign of desperation, because back in the real world, buyers are paying premiums near record-highs to buy their (real) gold.
There are numerous implications regarding this latest bankster tactic to suppress the gold market, but before getting into those let's explore all of the reasons why bankers like "leasing gold" in the first place. The starting point is to note that it is with gold-leasing that we see the beginnings of the banksters' 100:1 leverage in the gold market.

A banker is holding a quantity of gold in his vault. He "lends" the gold to a trader, and suddenly you havetwo parties both pretending to be the "owners" of that gold. Naturally, the banksters also like the fact that this is a totally opaque, unregulated/unreported transaction. The banksters can secretly lend out their gold, and since the transactions are never reported, we lack the absolute proof that none of this "loaned gold" is ever repaid.

There is certainly plenty of circumstantial evidence on which to base such a conclusion, however. In order to review this evidence, we first need to know what is being done with the bankers' leased gold. A detailed analysis by veteran precious metals commentator Frank Veneroso explains how and why "The ultimate borrowers in the gold lending operation are these shorts in the gold futures and forward market."

We immediately see a second reason the bankers love gold-leasing: all of the "leased" gold ends up being shorted onto the market. What this directly implies then is that in order for these gold leases to ever be repaid the short positions must be closed out so that the gold (supposedly) backing the trade can be repatriated to the bank. However, what we see in the gold market is a huge, permanent short position in the gold market - which has swelled enormously since Veneroso wrote the article above nearly a decade ago.
We now know that at least some of these gold leases have never been repaid, since the gold that was loaned out remains on the market. However, as a matter of simple arithmetic we can deduce that few if any of these leases are ever repaid. As I noted above, each gold lease creates "paper gold" (i.e. a "fractional reserve" gold market) and increases the bankers' leverage in the gold market.

READ THE REST OF THE ARTICLE

 

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Other Articles      

Gold, Silver, Currency Swaps and QE3
Matt Welke

Sprott Calls On Silver Producers To Hold Back Inventory

JP Morgan Crashed MF Global to Avert COMEX Failure, European Derivatives Implosion
Jim Willie

China Quietly Introduces New Currency System
Benjamin Fulford

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Gold, Silver vs. 'Worthless' U.S. Treasuries ~ Jeff Nielson
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Today's Gold/Silver Ratio: 54/1 UP from 44/1

Issue 125

Gold: $1650.00/ Silver: $30.33

SGS Notes: We're featuring a lot of material this week from Jeff Nielson, from BullionBulls, Canada... be sure to listen to the 3 Videos (which are really audio interviews)... We've had a lot of his articles in our Newsletter in the past... you can find them by searching his name on our Newsletter page on the SGS site.

In the past couple of weeks we have seen yet another bankster takedown of the precious metals prices... it is clear they are covering their short positions... see the link to the COT reports... and being allowed to do so by the very institutions that are to set position limits so that they cannot do this to the market. Wise investors should understand that this is an opportunity to BUY, because this activity will only create shortages in the marketplace which will drive prices to the moon...

Gold, Silver vs. 'Worthless' U.S. Treasuries

Jeff Nielson, BullionBulls, Canada

Two weeks ago, I wrote that volatility was "the new bankster weapon" in the gold and silver markets. In writing that this marked a "new phase" for these markets, I admit to never imagining that we would immediately see the bankers display this new phase with such a vivid "exclamation mark."

That said, it is now equally important to emphasize to investors that nothing at all has changed for gold and silver from a long-term perspective. What makes this current episode of market manipulation all the more surprising is that there wasn't even any serious attempt by the mainstream media to manufacture a "reason" for the plunge in gold and silver -- as "cover" for the banksters' actions.

With "competitive devaluation" still the mantra for the economically/intellectually bankrupt governments of the West, and with most of the rest of the world also being forced to play this game, we know that the banksters' fiat currencies will continue losing value at an increasing rate. Note the use of the word "competitive." It directly implies that these governments are driving down the value of their currencies as fast as they can.

Obviously, saying a currency is losing its value is exactly the same thing as saying that prices are going higher. As a matter of the simplest arithmetic, and the simplest logic, if most of the governments of the world are trying to push up prices (as fast as they can) then the prices for gold and silver can also only go higher over time.

Of course, some things are "different" in the gold and silver markets -- in comparison to where we were when this bull market started over 10 years ago.

Back then, the banksters had lots and lots of bullion to dump onto the market to depress prices. Now they don't. Back then, the governments of the world were not deliberately trying to drive up prices. Now they are. Back then, our governments were not obviously insolvent, and gold and silver were not viewed as "safe havens." Now they are.

In short, 10 years ago there were lots of reasons to worry about the "strength" and "stamina" of the gold and silver markets (as "long" investments). What happened at that time? The price of gold nearly quadrupled from under $300/oz to over $1000/oz. The price of silver more than quintupled, from under $4/oz to nearly $20/oz.

Another 'Must See' Video:

 

Other Articles      

Return to Good Money
Jeff Neilson

Extreme Times For Central Bankers - A Time For Gold
MineWeb

Big Hitters Very Sharply Reduce COMEX Silver Shorts
MineWeb

Currency Wars: Restricting Gold and Silver Sales In France
Jesse's Cafe American

Plan To Return America To the Gold Standard Set To Be Offered at Washington
NY Sun

It's Official: HFT Breaks Speed-of-Light Barrier, Sets Trading Speed World Record

This is the key to taking back our FREE MARKETS and until it is banned "they" will be behind the curtain pulling the strings of the market manipulation.This is the key to taking back our FREE MARKETS and until it is banned "they" will be behind the curtain pulling the strings of the market manipulation.

CFTC Facilitates Cartel Silver Raid
See also CFTC

 

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Bankers Have Lost The War
Part 1 Interview with Jeff Nielson

Bond Fraud & Brainwashing
Part 2 Interview with Jeff Nielson

Bullion, Mining Stocks & Hyperinflation
Part 3 Interview with Jeff Nielson

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Gold & Silver Are The Currencies of the Free
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Today's Gold/Silver Ratio: 44/1

Issue 124

Gold: $1813.40/ Silver: $40.73

SGS Notes: Our main article this week is one of several from the Cheviot Sound Money Conference that was held in the January. Clicking on the photo link will allow you to listen to one of the key speakers of the conference who gave this speech below. Don't miss the links in the right column of that page to other very informative other speeches...

Gold & Silver Are The Currencies of the Free

Dominic Frisby
Goldcore
 

The President of the World Bank, Robert Zoellick, called for a new post Bretton-Woods currency system involving gold, in November 2010. Zoellick said that gold was worthy of consideration as a reference point for modern currencies and as an indicator to help set foreign exchange rates.

At the end of January, the Cheviot Sound Money Conference held an excellent conference in London which examined the practical application of gold and silver as money within a modern context.

The context to these proposals is crucial as without an understanding of the modern financial and monetary system one cannot possibly comprehend the continuing importance of gold and silver.

We live in an era of surging trillion dollar deficits and surging national debts in the US and internationally.

The US recorded its biggest monthly deficit in history two days ago with a $223 billion deficit for February alone, the 29th straight month of deficits – a modern record. The US budget deficit in 2010 was over $1.45 trillion and is forecast to be of a similar magnitude in 2011. At the close of business on Feb. 28, the total federal debt stood at $14.195 trillion ($14,194,764,339,462.64).

We live in an era of massive creation of government bonds.

Foreign central banks hold $5 trillion in US Treasury bonds and agency debt alone. Chinese foreign exchange reserves alone are soon to reach the $3 trillion level.

We live in an era of of thousands of trillions of dollars, euros, pounds etc. of derivatives.

The enormous OTC sector of derivatives alone is worth nearly $600 trillion on paper, roughly 10 times world economic output.


We live in an era seeing the creation of and speculation with trillions of dollars (euro, pound etc.) of electronic currency.

According to the Bank for International Settlements, as of April 2010, average daily turnover in global foreign exchange markets was estimated at $3.98 trillion, a growth of approximately 20% over the $3.21 trillion daily volume as of April 2007 - soon after the financial crisis began. Some firms specialising in foreign exchange have put the average daily turnover in excess of US$4 trillion.

We are experiencing a scale of global currency debasement, the likes of which the world has never seen before.

We live in an era where thousands of millions of people live on less than a dollar or two a day in the "developing world". While millions of people in the "developed world" are now debt slaves - both individually and as citizens of increasingly bankrupt nation states.

Reformation or replacement of our debt-based fiat paper and electronic financial and monetary system is one of the most important debates of our times.

The modern monetary system of paper and electronic money is inherently unstable and unsustainable and there is a strong case for considering using gold and silver as money once again.

At the Cheviot conference, Money Week's Dominic Frisby gave an excellent talk in which he outlined why gold is the currency of the free.

Frisby eloquently outlined how the modern system of finance, banking and credit (or debt) impoverishes and enslaves. It has "made wars that should never have happened possible; its brought about a relentless needless commercial expansion and malinvestment that has raped the earth."

He points out how the world is cursed by monetary illiteracy and it is amazing how few people understand the modern monetary system, and how it is to blame for the huge inequalities in wealth we see in the world today.

"Money must be sound and true, at the moment it is neither and society is corrupted as a consequence."

Dominic Frisby's lecture can be watched here:
http://www.cheviot.co.uk/sound-money-conference/presentations/why-gold-is-the-currency-of-the-free

There were a number of other excellent talks all of which are worth viewing. The highlights include Chris Powell, the Secretary/Treasurer of GATA (Gold Anti-Trust Action Committee), lecture 'Gold price suppression purposes and proofs':
http://www.cheviot.co.uk/sound-money-conference/presentations/gold-price-suppression-purposes-and-proofs

There is then an excellent panel discussion and question and answer session on gold at the end which involved Max Keiser, James Turk, David Morgan, Ben Davies, Richard Cragg, Sandeep Jaitly. It is surprisingly entertaining and very informative:


http://www.cheviot.co.uk/sound-money-conference/presentations/panel-discussion-with-audience-q-and-a

GoldNomics - Cash or Gold Bullion?

Our educational video, 'Goldnomics - Cash or Gold Bullion?' complements the excellent interviews from the conference. It clearly shows how gold has retained value throughout history.

'GoldNomics' can be viewed by clicking on the image above or on our YouTube channel: www.youtube.com/goldcorelimited

The US dollar has been the strongest fiat currency in the world in the last 100 years and indeed it became the reserve currency of the world during the period (due to victories in the two World Wars and the accumulation of the largest gold reserves in the world).

Despite that the dollar has lost 97% of its value in 97 years. The massive loss of purchasing power of the preeminent currency of our age, the US dollar, clearly shows gold's importance as a currency, as money and as a store of value.

Individuals, families and societies can never be free as long as money is based on debt and compounded interest and as long as the money we use day to day is constantly depreciating and being debased.


Other Articles      

Once Upon A Time

The story of two different monetary conferences, two "committees of experts" that both met in Genoa, and changed the course of monetary history.

Advanced Q & A on the Silver Manipulation
Bix Weir



Donald Trump Confirms His Confidence in Gold
NY Magazine

Identities of JP Morgan Silver Manipulators Exposed
King World News

 

The New Bankster 'Weapon' Against Gold/Silver
Jeff Nielson

The Precious Metals Tsunami
Goldrunner


Run To Safety

Mary Anne & Pamela Aden
 

Central Banks Waging War on Gold At This Hour
Trader Dan


Gold-Backed Dollar Puts ‘Fair Value’ at $10,000 an Ounce
Bloomberg
 

The Case for Gold and Silver Investment Gets Stronger and Stronger
MineWeb

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Silver Shortage This Decade, Silver
Will Be Worth More Than Gold
Future Money Trends

 

 

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