Capital Account: Max Keiser, America runs the "Special Olympics for Financial Fraud"

From: CapitalAccount  | Dec 23, 2011

Jim Sinclair - Gold will be the Last Man Standing

Jim Sinclair discusses EFTs, clearing houses and physical gold with Eric King of King World News.....listen here

EU Piggies in the trough

Merry Christmas

Merry Christmas to all my blog followers. The blog has had a very successful 2011, with over 10,000 views every month.

You have helped save thousands from paper cuts and fires this year, whilst knowing that most can never be saved but never giving up hope for those very few who can.

"Paper burns ~ Gold and Silver just get hot"

WTF? - Ron Paul owns no Physical Gold or Silver

I am shocked and disappointed this morning to read in the Wall St Journal that Ron Paul's declared portfolio assets list no physical Gold or Silver. Makes you think how likely that "Gold is in a Bubble" when the US's greatest hard money advocate doesn't actually own any?

Article highlights follow, with my comments in italics

From WSJ.com:

According to data available through his 2010 “Form A” financial disclosure statement, filed last May, Rep. Paul’s portfolio is valued between $2.44 million and $5.46 million. (Congressional disclosures are given in ranges, not precise amounts.)

Most members of Congress, like many Americans, hold some real estate, a few bonds or bond mutual funds, some individual stocks and a bundle of stock funds. Give or take a few percentage points, a typical Congressional portfolio might have 10% in cash, 10% in bonds or bond funds, 20% in real estate, and 60% in stocks or stock funds.

But Ron Paul’s portfolio isn’t merely different. It’s shockingly different.

Yes, about 21% of Rep. Paul’s holdings are in real estate and roughly 14% in cash. But he owns no bonds or bond funds and has only 0.1% in stock funds. Furthermore, the stock funds that Rep. Paul does own are all “short,” or make bets against, U.S. stocks. One is a “double inverse” fund that, on a daily basis, goes up twice as much as its stock benchmark goes down.

The remainder of Rep. Paul’s portfolio – fully 64% of his assets – is entirely in gold and silver mining stocks.

So the champion of Hard Money (Gold & Silver) has 79% of his portfolio in Paper! Actually some would argue that he has 100% of his portfolio in paper as your paper land title can be compulsorily acquired by the government in exchange for paper/polymer fiat currency.

William Bernstein, an investment manager at Efficient Portfolio Advisors in Eastford, Conn., reviewed Rep. Paul’s portfolio as set out in the annual disclosure statement. Mr. Bernstein says he has never seen such an extreme bet on economic catastrophe. ”This portfolio is a half-step away from a cellar-full of canned goods and nine-millimeter rounds,” ........“this portfolio is at great risk because of its lack of bonds and high exposure to gold"

Oy Vey! - Since when did good Jewish boys start bagging Gold? His grandmother should give him a good spanking and withdraw all chicken soup privileges. Although to cut him some slack he might be just paper pushing for the 'benefit' of the ill-informed Goy. 

Read the article in full here  (also search the comments for "Tears of the Moon" hehe)

Capital Account: If Santa Claus is Chinese, what can the US expect for Christmas this Year?

From: CapitalAccount  | Dec 21, 2011

Ned Naylor-Leyland - The miners have been terrible, just buy the Physical Metal

One of my favourite analysts Ned Naylor-Leyland takes on 3 Paper Bug strugglers on CNBC and comes out on top, trumpeting physical gold over all paper claims in futures and metal in the ground.

Watch for the look on Ned's face when the main paper pusher says "The Asians, Indians and Chinese have stopped buying" (just after the 01:10 mark). Obviously that bloke has never been to a real bullion dealer lately (if ever). At ABC Bullion we just had queues up to 20 people deep just to get in the door for several days after the Gold price fell below US$1600 and Silver below US$30 (this after doubling the number of staff in the last 6 months). Of those clients most were of SEA, Indian and Chinese origin or descent, and despite the 55:1 Gold to Silver price ratio we have been selling roughly similar dollar amounts of Silver as we have Gold. Which of cause means that 50+ times as much Silver by weight is walking out the door (or is being stored) vs Gold. Note is against a background of only 9oz of Silver being mined for every ounce of Gold. Can anyone not believe in Peak Silver with action like that?

Wait to similar action starts to occur in the retail space throughout Asia, where only in the last 12 months has Silver started to lose its' stigma of being "Villager's Gold", and is still only available in bullion form in a very limited (but growing) number of outlets.

Click on the image to go thru to the video

Peter Schiff and Ann Barnhardt on getting out of all Paper

Gerald Celente's Trends for 2012

Gerald Celente discusses the trends as he see them for 2012 with Eric King of  King World News.......listen here

Martin Armstrong - They are taking down the World Financial System

Martin Armstrong discusses the New York boys, the Repo market and general malfesance with Eric King of King World News.......listen here

For those wishing to read Martin's essays (great holiday reading) they can be accessed here