Tuesday, July 31, 2012

Second Shooter in Batman Massacre Ignored

Jul 31, 2012 by

Eurozone faces a "make or break"

Jul 31, 2012 by
Consumer and business confidence slides in Europe as analysts are warning the eurozone faces a "make or break" situation when it comes to saving Greece and the two wobbling dominoes Spain and Italy.

On this edition of News Analysis we're discussing the future of the common currency block.

Hoard of Crusader Gold Found in Ruins

A team of researchers from Tel Aviv University has uncovered a hoard of real-life buried treasure at the Crusader castle of Arsur (also known as Apollonia), a stronghold located between the ancient ports of Jaffa and Caesarea, in use from 1241 to its destruction in 1265. The hoard, comprised of 108 gold coins, mostly dinars dated to the Fatimid Period (ca. 900 to 1100 AD), was discovered in a pot by a university student. The coins bear the names of sultans and blessings, and usually include a date and a mint name that indicates where a coin was struck.

This fascinating find is the first of its kind, says Prof. Oren Tal, director of the excavation and Chairman of TAU's Department of Archaeology and Ancient Near Eastern Cultures. "The scientific value is unprecedented. This is the first hoard of gold coins that we have in Israel that we can date to the Crusader period."

Prof. Tal believes that the coins provide an important clue to how large-scale economic transactions were made in the Crusader period. "They were not afraid to use older coins in order to complete large transactions and run large-scale businesses," he said, indicating that this "pot of gold" may be one of a group hidden in the castle, remnants of Arsur's role as a business center where industrial and agricultural goods were traded.

Crusader economics

According to Prof. Tal, the discovery adds to the debate over gold circulation during the time of the Crusades, a series of military incursions into the region to establish Christianity. It puts Fatimid-period coins, minted by Egyptian Sultans in the 10th and 11th centuries, in a Crusader context. Their use of gold from an earlier period is somewhat surprising, given the importance placed on coin minting.

Typically, societies mint their own coins, especially for the completion of large transactions, because it impacts more than just economics — it has marketing and public relations value. From a social and political standpoint, the minting of coins shows that a culture has the wealth and ability to make its own currency, feeding into a sense of independence as a people, cultural self-definition, and a collective identity, explains Prof. Tal.

Though historically priceless, the actual cash value of the coins is difficult to pin down, says Prof. Tal. A document found in the Cairo Genizah hints at the worth of the hoard, suggesting that two gold dinars, the face value on the coins that were found, can provide sufficiently for an extended family for one month.

Assuming the extended family includes a father, mother, sons, daughters, and their spouses and children, this could include 12 to 24 people. If 20 people can make their living for a month on two gold coins, the horde that was discovered could sustain 50 families for 30 days, or five families for approximately one year, all depending on the standard of living.

A time capsule

Arsur is a perfect time capsule due to its short period of occupation, says Prof. Tal. The findings from the castle, which in addition to the coins include items such as pottery, glass and metal objects, arrowheads, and catapult stones, are a window into a specific historical period. They help researchers to develop a working knowledge of the material culture of the Crusaders, and provide clues to interactions between the Islamic and Christian worlds.

The seigniory of Arsur was leased to the Military Order of the Hospitallers in 1261. The Order originally arrived in the Holy Land in the 12th century as a group of orderlies serving European pilgrims. As evidenced by their use of the castle as a storage place for their profits, Arsur was one of their most important strongholds. In 1265, the castle was attacked by the Egyptian Sultan Baybars, and after withstanding a 40-day siege, the castle was eventually conquered. It has remained uninhabited since then.


Capital Account on Anarchy with Jeffrey Tucker

Jul 30, 2012 by CapitalAccount

Alex Jones in top form on Bohemian Grove

Jul 30, 2012 by TheAlexJonesChannel

Another $200 million for the Pentagon up in smoke?

Jul 30, 2012 by RTAmerica

While social programs are being scrapped across the board, expenses for the Pentagon are exploding more than ever. The US spends several times over what China spends on their military, but few speak out in favor of cutting in. More than $200 dollars has been spent on training police forces in Iraq. Is tax money actually being spent on anything being asked for? Author Michael O'Brien discusses.

Michael Levy interviews Doug Casey

Jul 30, 2012 by CaseyResearchFAN

Border Gold's Michael Levy sits down with Doug Casey.

Gold Bullion or Cash?

By GoldCoreLimited

Banks cooperate for lower fines in Euribor probe

From Reuters.com

Original source

Several banks under investigation for suspected rigging of euro interest rates are cooperating with EU antitrust regulators in the hope of lower fines, two people familiar with the matter said on Monday, a move which puts the lenders at a higher risk of lawsuits.

The decision by the banks to disclose more about their knowledge of possible manipulation of the Euro Interbank Offered Rate (Euribor) is effectively an admission of wrongdoing and illustrates growing nervousness that they face a heavy penalty.

The European Commission is investigating possible manipulation of Euribor, the benchmark used when pricing bank lending in euros.

Read more

Monday, July 30, 2012

Inside Story - The world's most disputed waters

Jul 30, 2012 by
Tensions are rising in the South China Sea after China established a new city on a disputed island. Inside Story examines the world's most disputed waters and asks why China is making these seemingly provocative moves now.

Max Keiser on Bailouts

Jul 28, 2012 by

Brother JohnF - Silver Update: The Last Bubble

Jul 29, 2012 by

Note: When John says Warren Buffet said that "Gold would be the last Bubble" - he was mistaken and meant to say George Soros.

Gold-rich Haiti eyed by foreign investors

Jul 29, 2012 by

Double Standards - Olympic destruction and resignation

Jul 29, 2012 by

Truth About Markets

Max and Stacy discuss the Olympics and much more. Listen here

Brother JohnF - Silver Update: Olympic Silver

Jul 28, 2012 by

Sunday, July 29, 2012

David Morgan on Silver and Inflation

Jul 27, 2012 by

Colorado Shooting Patsy Was Under Air Force Psychiatrist's Care

Jul 28, 2012 by

On the Edge with Michael Hudson

Jul 28, 2012 by

In this edition of the show Max interviews Michael Hudson from Michael-Hudson.com. He talks about the fictitious capital; what it is? And who is pushing it?.


Keiser Report: Hang 'Em High!

Jul 28, 2012 by

In this episode, Max Keiser presents a double header with co-host, Stacy Herbert, to discuss crime and punishment in the financial sector. In London, JP Morgan banker, Tony Blair, has responded to the Keiser Report with his claim that hanging 20 bankers will not help and that, in fact, he asserts, public anger with the financial crisis is wrong. They also discuss the 'blazer over cuffs look' being the new black this season as Sean Fitzpatrick is arrested in Dublin, while over in Pennsylvania, Joe Paterno's statue is draped in blue tarpaulin and hauled away as bond investors punish the university with higher rates and Moody's threatens a downgrade. Finally, in Los Angeles, victims of vandalism are shocked to discover that it was a senior UBS banker who was smashing windows with a slingshot.

Capital Account with Doug Casey on Crisis Investing

Jul 27, 2012 by

Marc Faber at the Agora Conference

Saturday, July 28, 2012

The Mechanics of Spin

Jul 28, 2012 by

Quantitative Easing Revisited

By on Feb 1, 2012

12 astonishing things about gold

From the Perth Mint blog

Here are 12 astonishing features we’ve found cited about precious gold:
  • Gold is made in supernovas – massive cosmic explosions that hurl out materials which gather together to form planets.
  • Most of Earth’s gold is buried too deep to be recoverable.
  • Gold nearer the surface is the result of meteorites storms that bombarded Earth after it was formed.
  • The abundance of gold in the Earth’s crust is 0.004 parts per million.
  • The world’s oceans are estimated to hold up to 15,000 tonnes of gold.
  • Since the dawn of humankind, less than 172,000 tonnes of gold have ever been mined.
  • Every tonne of recovered gold would fit into a box of 20 metres cubed.
  • These days, it is not unusual for 10 or more tonnes of rock to be mined to get 1oz of gold.
  • Gold is extraordinarily dense – a cubic foot weighs half a ton, making it almost twice as heavy as lead.
  • Gold is highly malleable and ductile – 1oz of pure gold can be beaten into a sheet measuring nine square metres or drawn into a wire 80 kilometres long.
  • Gold nanoparticles thousands of times smaller than the diameter of a human hair are used in medicine.
  • The average human body contains 7 milligrams of gold.

Bron Suchecki of the Perth Mint interviewed on FSN

Jul 26, 2012 by

It looks like Australia is already winning Gold

From the Burning Platform blog


Going for Gold and Silver

Wishing all the best to the Aussie Olympic team in their quest for Gold, Silver and maybe Bronze.

For the rest of us will just have to be content just to go and buy our Gold and Silver.

Interesting to read that 92.5% of the "Gold" medal is actually Silver, so does that mean Silver is the new Gold?

Medals specification

  • The London 2012 Olympic medals weigh 375-400g, are 85mm in diameter and 7mm thick.
    The gold medal is made up of 92.5% silver and 1.34% gold, with the remainder copper (a minimum of 6g of gold).
  • The silver medal is made up of 92.5% silver, with the remainder copper.
  • The bronze medal is made up of 97.0% copper, 2.5% zinc and 0.5% tin.

Bank contractors illegally break into homes across the US

Jul 19, 2012 by
It's no secret that Americans are seeing their homes foreclosed in record numbers during the last few years — but is there any oversight from the banks in this rampant epidemic? In at least 50 instances as of late, financial institutions have ordered servicers to lock down supposedly vacant homes and empty out personal residences, only to be targeted the wrong places altogether. Ben Hallman of the Huffington Post provides us with a break down on the lack of accountability that comes with the foreclosure process.

Bill Murphy - The Cartel Is Getting Desperate

GATA’s Bill Murphy tells AltInvestors that the cartel is now getting desperate to extricate themselves from their naked short gold and silver positions.

Jul 25, 2012 by  

'America geared up for war'

Jul 27, 2012 by

Spain's regions call on government for bailout

Jul 27, 2012 by

Over the last week, Spain's regions have asked the central government for access to its credit line. Valencia, Murcia, and Catalonia have combined debts of around 65 billion euros and are on the brink of being unable to pay key public service providers.

Western bankers intensify global recession by financial terrorism

Right on Cue - Obama Exploits 'Batman Massacre'

Jul 27, 2012 by

Man Brings Gun to a Knife Fight

SALT LAKE CITY (ABC 4 News) - A citizen with a gun stopped a knife wielding man as he began stabbing people Thursday evening at the downtown Salt Lake City Smith's store.

Police say the suspect purchased a knife inside the store and then turned it into a weapon. Smith's employee Dorothy Espinoza says, "He pulled it out and stood outside the Smiths in the foyer. And just started stabbing people and yelling you killed my people. You killed my people."

Espinoza says, the knife wielding man seriously injured two people. "There is blood all over. One got stabbed in the stomach and got stabbed in the head and held his hands and got stabbed all over the arms."

Then, before the suspect could find another victim - a citizen with a gun stopped the madness. "A guy pulled gun on him and told him to drop his weapon or he would shoot him. So, he dropped his weapon and the people from Smith's grabbed him."

By the time officers arrived the suspect had been subdued by employees and shoppers. Police had high praise for gun carrying man who ended the hysteria. Lt. Brian Purvis said, "This was a volatile situation that could have gotten worse. We can only assume from what we saw it could have gotten worse. He was definitely in the right place at the right time."

Dozens of other shoppers, who too could have become victims, are also thankful for the gun carrying man.

Read more

Friday, July 27, 2012

Weekend Chillout - Sorrow

The pain in Spain seems never ending, what with the stock market plunging the most in two years and renewed talk of a government bailout in the news, one starts to think the Spanish have already paid for all their future sins.

I'm crying everyone's tears
And there inside our private war
I died the night before
And all of these remnants of joy and disaster
What am I suppose to do

I suppose I could just walk away
Will I disappoint my future if I stay
It's just a day that brings it all about
Just another day and nothing's any good

I'm crying everyone's tears
I have already paid for all my future sins
There's nothing anyone
Can say to take this away
It's just another day and nothing's any good

I'm the King of Sorrow

Capital Account - From Natural Resources to Currency Wars with Rick Rule & Jim Rickards

Jul 26, 2012 by

Keiser Report: Jellyfish Rat-Heart Robot Bankers

Jul 26, 2012 by

In this episode, Max Keiser and co-host, Stacy Herbert, discuss the jellyfish robot with a rat heart, aka The Perfect Banker. They also welcome the audience to the world of banking 2012 and introduce the silver dosimeter that signals exposure to toxic financial products and bad economic policies. In the second half of the show, Max talks to Mark O'Byrne of Goldcore.com about silver, gold, manipulation and the crooks put in charge of cleaning up Ireland.

Careful, don't kick banksters in the head

Thursday, July 26, 2012

Alex Jones interviews Paul Craig Roberts

Jul 25, 2012 by

On the Wednesday, July 25th edition of the Alex Jones Show, Alex welcomes long-time returning guest, economist, and contributing writer Paul Craig Roberts to discuss the assault on gun rights in the aftermath of the Colorado shooting, the West's unsuccessful efforts to muster support for Syrian intervention, and the impact the recent Libor scandal will have on world markets.

Geithner: US Knew of LIBOR Issue

Jul 25, 2012 by

Treasury Secretary Timothy Geithner said he knew of irregularities surrounding the LIBOR rate as far back as 2007, but conceded that the rate was used to help structure the bailout of AIG.

Is Silver becoming boring?

Silver is definitely not for Chickens!........or is it?

Jul 25, 2012 by

British GDP figures to confirm worst double-dip recession in 50 years

From guardian.co.uk

Original source

Britain's longest double-dip recession for more than 50 years will be confirmed in official figures out on Wednesday.

Gross domestic product (GDP) – a broad measure for the total economy – is forecast to have shrunk by around 0.2% between April and June in its third straight quarter of contraction.

That would mark the longest double-dip recession since quarterly records began in 1955 and is believed to be the worst since the second world war.

The last double-dip recession was in the 1970s when the economy was hamstrung amid soaring oil prices and a miners' strike, but that only lasted two quarters.

The latest decline is set to have been worsened by the extra bank holiday surrounding the Queen's diamond jubilee and record rainfall in April and June.
Recent estimates from the Bank of England said the celebrations could wipe up to 0.5% from output, while its governor, Sir Mervyn King, has warned the special events including the jubilee and the Olympics will skew figures this year.

The figures from the Office for National Statistics (ONS) will be a preliminary estimate and be subject to revision.

The economy entered a technical recession in the first quarter of the year, with GDP declining 0.3%, following a 0.4% drop in the final quarter of 2011.

Read more

Carbon based life forms under pressure

Capital Account - Cows go Moo

Gold goes "Ting", Silver goes "Thud", Cows go "Mooooo"

Jul 25, 2012 by

Barclays' Disgraced COO Gets £8.75 Million Golden Parachute

From ZeroHedge.com

Original source

The guy who openly admitted he was getting notification from the BOE to manipulate Libor, and was advising his traders appropriately, Barclays' COO Jerry del Missier, and who quit the same day as his boss Bob Diamond, has finally had his pay package revealed. The payoff to get him out and shut him up? £8,750,000.

From SKY:
The Barclays executive who presided over the falsification of the bank's Libor submissions is to receive a cash pay-off worth almost £9m in a move that will spark a political outcry.

I can exclusively reveal that Jerry del Missier, who resigned as Barclays’ chief operating officer earlier this month, negotiated a severance deal worth at least £8.75m in the days before he quit, according to people close to the bank.

I’m told that the £8.75m figure represents just over half of a £17m potential long-term incentive award made to Mr del Missier some years ago, and which matured in March. City sources say he was asked by senior colleagues to defer receipt of the award in the spring because Barclays executives intimated that it was an inappropriate climate for such a lavish bonus to be paid out.

Insiders say that Mr del Missier verbally agreed the outline of his payoff with Marcus Agius, the outgoing chairman of Barclays, in the days before the former’s departure was announced on July 3. The cash element of the deal was settled upon in an attempt to secure Mr del Missier’s signature on a severance agreement, one source said.

The bank is understood to have felt that there was no legal basis for forcing Mr del Missier to forego the cash payout once he resigned because he was entitled to have taken receipt of it in March.

What is less clear is the fate of share options held by Mr del Missier that could be valued at tens of millions of pounds. A large chunk of these options – which analysts estimate could be worth up to £40m – were subject to clawback provisions contained in his contract and I expect that he will not be able to cash in many, if any, of them in addition to the £8.75m cash payoff.

By deciding not to waive the £8.75m award, Mr del Missier risks becoming the latest lightning rod for public anger over bankers’ pay. And the news that the Canadian former head of Barclays’ investment banking arm could receive such a gargantuan golden goodbye threatens to plunge the bank deeper into chaos just 36 hours before it reports its financial results for the first half of 2012.

And then they wonder why bankers are just loved by the people. So much so in fact, that the SBA is drowned in applications from small businesses specializing in portable guillotines.

House approves Paul's 'audit the Fed' bill in 327-98 vote

From thehill.com

Original source

Rep. Ron Paul (R-Texas) won a rare legislative victory on Wednesday when the House passed his legislation allowing for a full audit of the Federal Reserve, including an audit of the Fed's monetary policy decisions.

The House approved Paul's Federal Reserve Transparency Act, H.R. 459, in a bipartisan 327-98 vote. The vote split Democrats almost evenly — 89 for and 97 against — while only one Republican, Rep. Robert Turner (R-N.Y.), voted against it.

The bill won an easy majority, given its 270 co-sponsors, and easily cleared the two-thirds majority needed for passage, which was required because it was considered under a suspension of the rules.

Paul, who has yet to officially drop out of the 2012 presidential race, has long sought to dismantle the Fed based on arguments that the Fed's power to create money has devalued the dollar. He also says the Fed hurts Americans by making them vulnerable to Fed-induced housing and stock market bubbles, and more recently, that the Fed reacted to the recession by creating billions of dollars to bail out financial institutions.

Read more

Wednesday, July 25, 2012

Alex Jones breaks down the news

Jul 24, 2012 by http://www.infowars.com/

Euro to fall futher against the US Dollar?

Former Anglo Irish Bank CEO Seán FitzPatrick arrested

Jul 24, 2012 by

The former Chief Executive and Chairman of Anglo Irish Bank has appeared in court in Dublin charged in connection with financial irregularities at the bank. Seán FitzPatrick was charged with 16 offences under Section 60 of the Companies Act.

Spain bailout pressure mounts

Jul 24, 2012 by http://www.euronews.com/

A growing belief that Spain is going to need a full bailout from the European Union caused Madrid's borrowing costs to rise again on Tuesday.

The interest it had to offer to get investors to buy its short-term government bonds rose close to the highest since the creation of the euro.

Spain did find buyers for all the three billion euros worth of bonds it wanted to sell, but the markets are very nervous, which was reflected in a sell-off shares on the Madrid stock exchange.

Adding to the worries was the near certainty that more of Spain's regions will ask for bailout help from Madrid as they can no longer borrow independently.

David Jones, Chief Market Strategist with IG Index, said: "I think a full bailout for Spain is something that the European Central Bank and the eurozone as a whole will be very keen to try and avoid, but it's difficult to see it going any other way at the moment."

Spain's Economy Minister Luis de Guindos was in Berlin on Tuesday for crisis talks with his German counterpart Wolfgang Schaeuble.

On Monday de Guindos repeated Madrid would not need more aid.

The government's position remains that the 100 billion euros that it has asked for from the EU to recapitalise its battered banks will be enough to stem the crisis but the latest bond auction showed the markets do not believe that.

*Madrid's mounting costs*

Spain's increasingly desperate struggle to put its finances right have seen its borrowing costs soar to levels that are seen as being unsustainable. Italy, commonly regarded as too big to bail out, has been dragged along in its wake.

The Spanish Treasury raised 3.04 billion euros of three and six month T-bills, meeting its target. The average yield on the three month bill was 2.434 percent, up from 2.362 in June.

For the six-month paper, the yield jumped to 3.691 percent from 3.237 percent last month.

On the secondary market, Spanish five-year government bond yields rose above 10-year yields for the first time since June 2001. Having to pay more to borrow shorter-term rather than longer-term is usually a sign that markets think the risk of a default or debt restructuring has increased.

"The spread between five and 10-years moved to negative today, which is a classic sign that the market thinks the current trends are unsustainable for Spain's fiscal dynamics," said Nick Stamenkovic, bond strategist at RIA Capital Markets.

Rebekah Brooks and Andy Coulson charged with phone hacking

Jul 24, 2012 by
British Prime Minister David Cameron's former director of communications, Andy Coulson, and the former chief executive of Rupert Murdoch's News International, Rebekah Brooks, will be charged with phone hacking, the Crown Prosecution Service said. Rory Challands reports from London. Six other people will also be charged in the ever-widening scandal for their roles in a lengthy campaign of illegal espionage that victimised hundreds of people, the CPS said on Tuesday in a televised statement.

California Dreaming

Jul 24, 2012 by

Banks behind France's housing scandal

Sacré bleu !!

Jul 24, 2012 by
French banks set up subsidiaries which offered property loans to middle class families, on one condition: the homes could never be sold, had to be compulsorily rented and only banks, not the landlords, could select tenants Then they received warning letters from banks. Home owners realized the contract sent by banks had been illegally skewed whereby, they were forced to repay 6 times their initial loan and all their belongings were auctioned off. Their debts rose to 200 percent and home owners decided to file a case. The case is termed as France's own sub-prime scandal. A thousand homeowners have lost over a billion euros. 

Silver: Supply and Demand

Jul 24, 2012 by
Ever wonder how supply and demand affects the price of silver? It's not as simple as you may think. This educational video explores the economics of silver and its various uses for industrial demand. Visit http://www.edrsilver.com for more information. Presented by Endeavour Silver Corp. as part of an ongoing series of educational films on all things silver.

Capital Account - Marc Faber on a Global Market Crash, the U.S. Treasury Bubble and China's Slowdown

Jul 24, 2012 by

Keiser Report: Financial Feeding Frenzy

Jul 24, 2012 by

In this episode, Max Keiser and co-host, Stacy Herbert, discuss feeding frenzies on Wall Street, drug money laundering in the City and Javier Bardem pays a little visit to the bankers. In the second half of the show, Max talks to comedian, actress, writer and Presidential candidate, Roseanne Barr about the mainstreaming of calls to 'hang bankers' and about ridding our democracies of politicians owned by bankers.

Tuesday, July 24, 2012

Aussie sub sinks US naval ship

In the long and fine tradition of the Australian Navy sinking US Naval ships, even when they weren't trying to, a Collins Class sub, HMAS Farncomb, has sunk the USS Kilauea on the Pacific Missile Range Facility (PMRF) off Hawaii, during RIMPAC 2012.

HMAS Farncomb fired a Mark 48 Torpedo into the Kilauea's hull, striking the ship below the bridge.

Capital Account with Mish and Eric Fry

Jul 23, 2012 by

Key to the Gold Vault

Indeed, there can be no other criterion, no other standard than gold.

Yes, gold, which never changes, which can be shaped into ingots, bars, coins, which has no nationality and which is eternally and universally accepted as the unalterable fiduciary value par excellence.

Charles de Gaulle

Ronald Stoeferle - The biggest misconception in gold and other factors driving the metal

A look at the latest edition of the Erste Group's 'In gold we trust' report and some of the big factors at work within the gold market.

Listen the Mineweb interview here

Access the referenced report here

Reserve Bank of India - Indians should reduce gold tributes to God

Um, do you think this bloke has been game enough to say this to his wife and or daughter(s)? No, I didn't think so either. 

Gold offerings at temples have come under the scanner of the Reserve Bank of India. Deputy Governor K C Chakrabarty has called for a reduction in demand for gold as an offering to the deities.

"Ninety percent of the gold demand is jewellery or to offer to God. Both have to stop," said the official of the apex bank. The deputy Governor noted that Indian society's obsession with gold was an archaic idea of pre-historic times when India was a rich society of abundance.

"Wearing gold as an ornament was a culture when you were a rich society, when you were contributing to 30% of the GDP of the world. Today, we have become a poor country, we need to change our culture," he added.

For millions of Indian households which think otherwise, this assertion by Chakrabarty, may come as a shocker. Over the weekend, the deputy governor's remarks made at a function has opened up a Pandora's Box.

For centuries, Indian households have had a twin tradition - buying gold during festivities or on auspicious occasions largely in the form of jewellery, and offering gold to their Gods as a form of appeasement or in gratitude.

Both need to change, said Mr Chakrabarty, stressing on the need for a shift in people's social and cultural attitudes towards gold to cut its demand. This, he feels, will help ease the current account situation, especially "since investing in gold is non-productive".

If Mr Chakrabarty could have his way, he would have Indians donating only 2 carat gold instead of the regular 22 carats to temples. "Yes, if it is of religious value, it is the faith, (then) why do you require ornaments of 22 carats gold? Ultimately, ornament is ornament," he went on to add.

Know Your Money - Gold & Silver

SGTbull07 on Jun 4, 2011

This government film was released in 1947, "Know Your Money".

Tony Blair - "Hanging Bankers Won't Help"

I always thought Tony was a spoil sport. OK lets get all scientific like and conduct a double blind test. Lets hang 20 bankers at the end of the High Street and track a control group of another 20 bankers, then see which group steals the most from the British public. No doubt the experiment would have to carried out multiple times to ensure consistent results, can't be too careful when it comes to banksters.

From the Telegraph.co.uk

Original source

In an interview with The Daily Telegraph, the former prime minister launches a defence of the free market and liberal economic rules established by the Thatcher government.

The approach promoted by Baroness Thatcher’s government is not to blame for the recent financial and economic crisis, Mr Blair says, warning against taking vengeance on bankers and increasing State intervention in the private sector.

We must not start thinking that society will be better off “if we hang 20 bankers at the end of the street”, Mr Blair says.

Big international banks are still the focus of public and political attacks for what critics say was their role in causing the financial crisis.

Mr Blair cautions against letting that anger lead to regulations that could reverse Lady Thatcher’s work to reduce government involvement in free markets.

Read more

Brother JohnF - Silver Update: Loco London

Jul 23, 2012 by BrotherJohnF

$21Trillion Hidden from the Thieving Classes

Aye all those scurvy dogs burying their fortunes in the Caribbean to protect it from marauding banksters and petulant bureaucrats, arrr!

Jul 23, 2012 by AlJazeeraEnglish

The Pain in Spain continues

From NYTimes.com

Original source

MADRID — The euro zone crisis refuses to take a summer vacation.

Financial markets flared anew Monday, despite various moves by European officials in recent weeks to buy the time that might let the money minds of Brussels and Frankfurt take a euro-policy vacation until September.

The main trigger seemed to be the fact that Spain’s borrowing costs hit a record level, on investor concerns that a deepening recession and the financial strains on its regions might eventually lead the government to seek a Greek-style bailout from Europe. And those worries were hardly eased by new signs that Greece’s bailout may not be working out so well, either.

A chief worry once again is that Europe, which has already spent or pledged about €270 billion, or $327 billion, trying to rescue tiny Greece, would be hard-pressed to find the money to salvage an economy the size of Spain’s, the euro zone’s fourth-largest after those of Germany, France and Italy.

Read more

Jul 23, 2012 by AlJazeeraEnglish

Moody's updates outlook for Germany, Netherlands to negative

From Reuters.com

Original source

(Reuters) - Moody's Investors Service on Monday changed its outlook for top-rated Germany, the Netherlands and Luxembourg to negative from stable, warning that they may have to increase support for indebted euro zone states such as Spain and Italy.

Moody's also cited an increased chance of Greece leaving the euro zone, which "would set off a chain of financial sector shocks ... that policymakers could only contain at a very high cost."

The agency affirmed Finland's 'Aaa' rating and stable outlook, but it said all four countries were adversely affected by rising uncertainty about the outcome of the euro area debt crisis and the increasing likelihood that greater support would be needed by other euro area countries, most notably Spain and Italy.

Moody's said the burden of that support would fall most heavily on the euro zone's top-rated states. It said its actions on Germany, the Netherlands and Luxembourg mean it now has negative outlooks on all the countries "whose balance sheets are expected to bear the main financial burden of support."

The agency put France and Austria on negative outlook in February.

Finland escaped a negative outlook partly because of its small and domestically oriented banking system and its limited trade links with the rest of the euro area, Moody's said.

Ratings agency Standard & Poor's has a stable outlook for Germany but negative outlooks for Luxembourg, the Netherlands and Finland. All are rated 'AAA'.

Fitch gives all four the top rating and stable outlooks.

Living the Dream

Ned Naylor-Leyland talks to Alasdair Macleod about Europe and increasing demand for allocated

Jul 23, 2012 by GoldMoneyNews  Subscribe to our newsletter at http://www.goldmoney.com/goldresearch.

GoldMoney's Alasdair Macleod talks to Ned Naylor-Leyland of Cheviot Asset Management about Europe's debt crisis, the euro, and gold and silver price prospects. He also discusses the Pan-Asia Gold Exchange, and how an increasing number of investors are demanding allocated gold.

Ned is slightly more optimistic about the euro than most analysts, owing to what he sees as the high likelihood of further successful moves towards fiscal union. He also thinks the large gold reserves held by the European Central Bank as well as the largest member states (Germany, France and Italy) are a plus for the currency.

Regarding the Pan-Asia Gold Exchange that he talked about at last summer's GATA conference in London, Ned notes that internal Chinese political wrangling appears to have blocked the introduction of an international fully-allocated spot gold contract. However, an equivalent silver contract is going to start trading within the next few months, which could have bullish consequences for silver.

Alasdair and Ned also discuss proposals to make gold bullion a Tier-1 bank asset. They state that this is further evidence that gold is once again regaining a formal role within the financial system -- good news for both gold investors and the banks themselves.

This podcast was recorded on 20 July 2012.

Monday, July 23, 2012

The 10 Most Spectacular Financial Speculations Of The Past 300 Years

SGT Report with Andy Hoffman and Bill Holter

Jul 21, 2012 by SGTbull07

An Ancient way of life threatened in Pakistan

A fascinating culture I had never of before.

Jul 22, 2012 by AlJazeeraEnglish

Nestled among the valleys of Pakistan's mountainous northwest is a tiny religious community known as the Kalash.

For generations, the tribe and the country's Muslim majority have co-existed peacefully.

But there are now concerns about the future of this ancient culture. Al Jazeera's Imtiaz Tyab reports from the Kalash Valley, Northern Pakistan.

IMF warns Euro economy has reached critical stage

Jul 22, 2012 by PressTVGlobalNews

Europe has reached the end of the road, so it needs to take bold steps to stem its deepening economic crisis.

The warning comes from a new report of the International Monetary Fund, the IMF. The report calls for the creation of a banking union for the 17 countries using the euro currency.

Canadian workers struggle to find secure jobs

Jul 22, 2012 by PressTVGlobalNews

Aussie Stocks lose $20 Billion

From SMH.com.au

Original source

Australian shares record their worst day since June 4 as global markets slide on a mix of fears about Spanish debt and slowing Chinese growth.

The market has closed lower, reporting its worst result since June 4. The benchmark S&P/ASX200 index dropped 67.4 points, or 1.6 per cent, to 4131.7, while the broader All Ords fell 68.9 points, or 1.6 per cent, to 4161.7.

The gold sub-index led the losses, dropping 3.9 per cent, followed by mining, down 3.4 per cent. IT dropped 2.5 per cent, and energy fell 2.6 per cent.

Read more: http://www.smh.com.au/business/markets-live/markets-live-stocks-lose-20b-20120723-22ixe.html#ixzz21QOLSbWD

Brother JohnF - Silver Update: Drug Money

Jul 22, 2012 by BrotherJohnF

Marc Farber interviewed on Indian CNBC

Marc discusses the US$, Euro, and global equities.

Eric Sprott on Gold, Silver and Chinese Buying

Eric Sprott, CEO of Sprott Money, discusses his company's $200M silver ETF offering, European bank bailouts, and Chinese gold purchases with Eric King. Listen to the KWN interview here

Double Standards - Higgs Boson, Islamophobia and David Cameron

Jul 22, 2012 by PressTVGlobalNews

Euro-Doomsday Scenario: Europeans brace for worst

Jul 22, 2012 by RussiaToday

German Chancellor Angela Merkel has once again been giving assurances the EU is on the road to recovery. But it seems many Europeans themselves remain unconvinced, and are bracing themselves for an economic doomsday.RT's Oksana Boyko has more.

On the Edge with Gerald Celente

Jul 21, 2012 by PressTVGlobalNews

In this edition of the show Max interviews Gerald Celente from trendsresearch.com. He talks about the bankers and governments manipulation of the global interest rates. Gerald Celente is an American trend forecaster, publisher of the Trends Journal, business consultant and author who makes predictions about the global financial markets and other events of historical importance.

Shares come and go but Gold is Eternal

The Gold, Silver, Copper and Lead Australian share price listing from an original copy of the Sydney Morning Herald from 13 July 1942.

Keiser Report: Where Money Goes To Die

Jul 21, 2012 by

In this episode, Max Keiser and co-host, Stacy Herbert, discuss the Irish government being so terribly 'embarrassed' that they hired two dirty bankers to 'clean up' their financial system and they remind David Cameron over in 'Grim Britain' of the 'dreadful backgrounds' of Bob Diamond, Jamie Dimon and their ilk. In the second half of the show, Max talks to Wolf Richter of the Testosteronepit.com about the wine bubbles and where money goes to die.

Single currency tearing Europe apart

Jul 22, 2012 by

RT's Oksana Boyko interviews economist and author Wilhelm Hankel.

Saturday, July 21, 2012

David Morgan interviewed

Jul 20, 2012 by

Spain's woes spark share slump

Jul 20, 2012 by     http://www.euronews.com/

There was a huge sell off on Europe's stock markets on Friday after Spain's heavily indebted Valencia region asked for a central government bailout, and Madrid cut the country's economic growth forecast for this year and next rekindling concerns about Spain's financial health and the eurozone debt crisis

The index of the region's top 50 shares slumped 2.8 percent while Madrid's bourse suffering its biggest one-day drop in two years - down 5.8 percent.

Spanish borrowing costs also headed higher - interest on its 10-year government bonds moved further above the seven percent level that markets view as too expensive to be sustainable.

Investors took profits from the recent rally before the weekend, and in some cases summer holidays.

The biggest losers were banks and insurers, which will suffer through their bond holdings and loans if the eurozone crisis intensifies.

The euro hit record lows against several currencies - at one stage it was at its worst against the dollar in over two years.

The firmer dollar pulled down oil prices.

Financial Checkup: LIBOR Group Settlement?

Jul 20, 2012 by

Capital Account - Revolutionary Cycles and the History of Financial Bubbles

Jul 20, 2012 by

Friday, July 20, 2012

Matt Taibbi: Libor Rate-Fixing Scandal “Biggest Insider Trading You Could Ever Imagine”

Russia and China Veto UN Syrian Resolution


Russia and China have vetoed the latest Western-backed draft resolution on Syria at the UN Security Council. RT exclusively talks to one of the men who raised his hand in that 'NO' vote - Moscow's envoy to the United Nations, Vitaly Churkin.

RT Syria Update

Jul 19, 2012 by
As a civil war continues to tear apart Syria from the inside-out, citizens are scared to travel and foreign diplomats are even trying to escape the country to avoid bloodshed. It's been 17 months since the conflict first began. RT's Marina Finoshina is still on the scene, though, and brings us the latest from war-torn Damascus, where even the locals are looking for cover.

Julian Assange in hiding: one month waiting for asylum

Jul 19, 2012 by
It's been a full month since WikiLeaks founder Julian Assange entered the Ecuadorian Embassy in London and asked the South American nation for political asylum. In the meantime, his whistleblower website has remained active, releasing 2.5 million emails linked to the Syrian government. How much longer will the site last though? RT's Abby Martin brings us the latest on Julian Assange's quest for asylum.

"You Didn't Build That!" Classic Colletivism

Jul 19, 2012 by

Weekend Chillout - It is either Them or Us

This has been a week of conflict. Syrians are fighting and dying fighting Them, be it the Government or opposing factions. In the financial world banksters have been blaming Them for telling the banks to manipulate LIBOR rates whilst Us look on aghast at the fraud and deceit. In politics it seems that Obama is really one of Them and definitely not one of Us as his birth certificate is shown to be fraudulent. The battle continues and the causalities mount.........

Charles Ferguson on the Financial Landscape after 2008's "Inside Job"

Jul 19, 2012 by

Bill Murphy's London Source: "Big Gold & Silver Moves Coming in August"

Jul 19, 2012 by SGTbull07

Breaking Gold & Silver information with GATA's Bill Murphy.

World Gold Council - Investment Statistics and Commentary

Latest publication from the World Gold Council

Quarterly statistics commentary Q2 2012

We have just published our commentary on gold’s price performance in various currencies, its volatility statistics and correlation to other assets in the quarter. It provides macroeconomic context to the investment statisticspublished at the end of each quarter and highlights emerging themes relevant to gold’s future development.

Review: key macroeconomic themes during Q2 2012

Gold prices declined in most currencies during the second quarter with the exception of the euro, Swiss franc and Indian rupee, in part due to a strong US dollar. Despite a 3.8% decline in Q2 to US$1,598.50/oz on the London PM fix, gold was up 4.4% during the first half of the year. Volatility remained elevated amidst a busy event-risk period. However, gold generally outperformed risk assets.

Global inflation eases but underlying trends supportive for gold: A substantial drop in energy and some agricultural commodities during the period has eased inflation pressures in many parts of the world and put downward pressure on gold prices.

Reassessing “risk-free” assets: Even assets traditionally considered safe are under pressure. German Bunds interest rates climbed in June. The Swiss franc, yen and US Treasuries are also facing issues – challenging their role as assets of last resort. Despite pressures on the price of gold, its lack of credit risk, its liquidity and hedging characteristics has made gold an attractive vehicle for long-term wealth preservation.

Correlation between gold and risk assets approaches long-term averages: Gold’s correlation to equities and other risk assets fell towards long-run average levels in Q2 helping portfolio diversification. Gold’s increased correlation to equities in Q1 was an indirect effect related to a weaker global economy coupled with a stronger US dollar.

Outlook: emerging macroeconomic themes in H2 2012

Deflationary concerns in some countries provide room for further fiscal and monetary stimulus. This may lead to a further debasement of currencies through unconventional monetary policy and an increased risk of future inflation. These factors should provide support for future gold investment.

The underlying structural issues that affect the euro zone remain unresolved, despite advances in the formation of more comprehensive burden-sharing mechanisms. In such an environment of uncertainty and higher market volatility, gold will continue to be an asset that investors use to diversify risk and preserve capital.

The flight to the US dollar as a safe-haven in the first half of 2012 could be reversed. The US debt ceiling debate in Q3 and federal elections in November, followed by the necessity to confront a US$1.3tn budget deficit will prove challenging to the US dollar. With most currencies under pressure in one form or another, gold is likely to provide a hedging mechanism for investors. MORE...

Thursday, July 19, 2012

The Silver Pharaoh

The royal tomb of Pharaoh Psusennes I is one of the most spectacular of all the ancient Egyptian treasures -- even more remarkable than that of Tutankhamun. So why hasn't the world heard about it? What mysteries does it contain? And what does it reveal about ancient Egypt?

The tomb was discovered filled with lavish jewels and treasure almost by accident in 1939 by the French archaeologist Pierre Montet while he was in northern Egypt. The royal burial chamber came as a complete surprise -- no Egyptologist had anticipated a tomb of such grandeur in this area. Unfortunately, the tomb was found on the eve of World War II in Europe and attracted little attention.

One of the most startling discoveries inside the tomb was the sarcophagus in which the body was held: It was made of silver with exquisite detail and craftsmanship. No other silver sarcophagus has ever been found and it is now recognized by many Egyptologists as one of the most exquisite artifacts of ancient Egypt ever to be found.

The elaborate tribute within the tomb suggested it was the burial site of someone very important. Using the hieroglyphs inside the tomb, they pieced together the identity of the pharaoh: his powerful role in ancient Egypt, and why he received such grand treatment.

The investigation reveals political intrigue, a lost city and a leader who united a country in turmoil and became the Silver Pharaoh.

Keiser Report: Alien Bankers, Leave Earth Alone!

Jul 19, 2012 by

In this episode, Max Keiser and co-host, Stacy Herbert, demand that Jamie Dimon leave Earth alone! They also discuss the global Jim Jones like cults surrendering to the derivatives with hostile intent. In the second half of the show, Max talks to Jim Rickards, author of Currency Wars, about 'Singapore on the Mediterranean' and how the U.S. Congress will intervene in the Libor case to avoid the Son of Tarp.

Russia and China don't want Libya scenario in Syria

Jul 18, 2012 by

As a civil war grips Syria, it doesn't look like there is an end in sight. This after Syrian officials were killed in an explosion of unclear nature - including the defense minister, his deputy, security advisor and Bashar al-Assad's brother-in-law. So what's going on in Syria? Is a diplomatic solution possible at this point? Cole Bockenfeld of the Project on Middle East Democracy joins RT's Liz Wahl to explain.

Bernanke calls Ron Paul audit plan 'nightmare' for Fed

Loving that Gold tie Ben......

Ron Paul on Gold Seek Radio

Jul 18, 2012 by

People & Power - Attack of the Drones

Jul 18, 2012 by
The US government's growing reliance on aerial drones to pursue its war on al-Qaeda and the Taliban in Yemen, Afghanistan and elsewhere is proving controversial. As governments are increasingly relying on drones, what are the consequences for civil liberties and the future of war?

The Blog spreads its reach

Just a quick post to let you know that this blog is now syndicated in part on my employer's, ABC Bullion, website here and in full at the influential news aggregation website "Before it's News" in their Gold and Precious Metals section here. Of course the blog's home will remain here hosted on blogger.

Alex Jones on Barry's Birth Certificate

Jul 19, 2012 by

Capital Account with Lew Rockwell

Jul 18, 2012 by

48 Tons of Silver Recovered from the SS Gairsoppa

Press Release

Tampa, FL – July 18, 2012 – Odyssey Marine Exploration (NasdaqCM: OMEX), pioneers in the field of deep-ocean exploration, today announced it has successfully recovered approximately 48 tons of silver bullion from a depth of approximately three miles. This initial recovery of bullion from the SS Gairsoppa, a 412-foot steel-hulled British cargo ship that sank in February 1941, totals 1,203 silver bars or approximately 1.4 million troy ounces of silver and has been transported to a secure facility in the United Kingdom. After unloading the cargo, taking on fuel and changing personnel, recovery operations will continue and are expected to be completed in the third quarter of 2012. This record-breaking operation has so far produced the heaviest and deepest recovery of precious metals from a shipwreck.

Odyssey is conducting the Gairsoppa project under contract with the UK Department for Transport. Under the terms of the agreement, which follows standard commercial practices, Odyssey bears the risk of search and recovery and retains 80% of the net salved value of the Gairsoppa silver cargo after recovering its expenses. The contract was awarded to Odyssey following a competitive tender process.

The amount of silver bars recovered so far represents approximately 43% of the insured silver bars, or approximately 20% of the total silver cargo which research has indicated may be on board. In addition, an estimated 600,000 oz. of insured silver is expected to be found on the SS Mantola, a second modern shipwreck recovery project being conducted in conjunction with the Gairsoppa project. Upcoming operational plans include continued recovery of silver on the Gairsoppa from the cargo area that is in the process of being cleared and then the inspection of other cargo holds if the current area does not hold the rest of the expected bullion. Serial numbers and other markings from the silver bars recovered to date all match the contemporary insured silver cargo documentation therefore it is anticipated that the entire insured amount is aboard. However, it is unknown at this point whether there is additional uninsured silver on the site.

The Gairsoppa was a merchant ship torpedoed by a German U-boat during World War II. During the War, the UK Government insured privately owned cargo under their War Risk Insurance program. After making an insurance payment of approximately £325,000 (1941 value) to the owners of the silver cargo lost aboard the Gairsoppa, the UK Government became the owners of the insured cargo. As some sources, including ”Lloyd’s War Losses” indicate a total silver cargo worth £600,000 (1941 value) lost aboard the Gairsoppa, there may have been additional government-owned silver cargo aboard that would have been self-insured.

“With the shipwreck lying approximately three miles below the surface of the North Atlantic, this was a complex operation,” commented Greg Stemm, Odyssey Chief Executive Officer. “Our capacity to conduct precision cuts and successfully complete the surgical removal of bullion from secure areas on the ship demonstrates our capabilities to undertake complicated tasks in the very deep ocean. This technology will be applicable to other modern shipwreck projects currently being scheduled as well as our deep ocean mineral exploration activities. Our success on the Gairsoppa marks the beginning of a new paradigm for Odyssey in which we expect modern shipwreck projects will complement our archaeological shipwreck excavations.”

“The progress on this project is a testament to our world-class team. Our research department developed extensive information about the vessel’s sinking and layout of the ship, and our marine operations team was able to locate both the Gairsoppa and the Mantola shipwreck sites relatively quickly last summer. We assembled the suite of equipment necessary for a successful recovery and conducted reconnaissance dives to plan efficient operations.” said Mark Gordon, Odyssey President and Chief Operating Officer. “This demonstrates the viability of the business model we have developed to identify and recover the historic knowledge and economic value of otherwise lost government assets.”

Odyssey commenced recovery operations utilizing the chartered 291-foot Seabed Worker in late May after completing a series of reconnaissance dives earlier in the year. Odyssey has contracted JBR Recovery Limited, one of Europe’s leading silver recovery and precious metal processing specialists, to support the logistics, refining and monetization of the silver cargo recovered.