Thursday, January 31, 2013
Doug Casey interviews Peter Schiff
From CaseyResearchFAN
Casey Research chairman Doug Casey interviews financial pundit and author Peter Schiff. Their conversation covers a range of issues: gold, the validity of the US dollar, the Federal Reserve system and the Schiff family's fight with the IRS. http://www.caseyresearch.com
Casey Research chairman Doug Casey interviews financial pundit and author Peter Schiff. Their conversation covers a range of issues: gold, the validity of the US dollar, the Federal Reserve system and the Schiff family's fight with the IRS. http://www.caseyresearch.com
Wednesday, January 30, 2013
John Embry - Keep the Faith
Royal Torture: Bahrain princess charged with activist abuse
From RussiaToday
If you are wondering why you rarely hear of Bahrain in Western media this photo from Google maps explains all.
Keiser Report: Kamikaze Currency Killers
From RussiaToday
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss Japan where the latest source of monetary inspiration is Korekiyo Takahasi, described by Ben Bernanke as the man who "brilliantly rescued" his country from the Great Depression of the 1930's, while neglecting to mention that Takahasi was then assassinated by the army, who were angered by cuts to their wages. They also discuss the biggest Aso in Japan, finance minister Taro Aso, suggesting old people just 'hurry up and die' in order to save money for government. In the second half of the show, Max Keiser talks to former MI5 agent turned whistleblower, Annie Machon, about the global crackdown on the internet and the activists who live there.
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss Japan where the latest source of monetary inspiration is Korekiyo Takahasi, described by Ben Bernanke as the man who "brilliantly rescued" his country from the Great Depression of the 1930's, while neglecting to mention that Takahasi was then assassinated by the army, who were angered by cuts to their wages. They also discuss the biggest Aso in Japan, finance minister Taro Aso, suggesting old people just 'hurry up and die' in order to save money for government. In the second half of the show, Max Keiser talks to former MI5 agent turned whistleblower, Annie Machon, about the global crackdown on the internet and the activists who live there.
Gold protects Mrs Watanabe against suicide bankers
Tuesday, January 29, 2013
Australian Business Sentiment Surges Strongly
Jan. 28 (Bloomberg) -- Australian business confidence rebounded by the most in more than a decade after the central bank’s sixth interest-rate cut in 14 months and U.S. lawmakers reached a budget deal, a private survey showed. Paul Allen reports on Bloomberg Television's "On The Move Asia."
Russia to continue to buy Gold
Original sourceDAVOS, Jan 24 (Reuters) - The Russian central bank will continue to buy gold as it seeks to diversify its foreign reserves away from paper assets it views as risky, First Deputy Chairman Alexei Ulyukayev said on Thursday.
The Bank of Russia has built up the world's fourth-largest foreign reserves, worth $530 billion, by buying oil export dollars to keep the rouble competitive. The hoard includes two rainy-day budget funds that guard against fiscal shocks.
The bank has also been a bullion buyer and the share of gold in its reserves is approaching a medium-term target of 10 percent, raising questions over whether it would keep buying gold.
Read more
GATA closing in on secrets behind gold cartel?
From Cambridge House
Chris Powell of GATA sits down with Bridgitte Anderson during the Cambridge House Vancouver Resource Investment Conference to chat about the Gold Anti-Trust Action Committee's efforts to flush out the truth behind the gold price.
Chris Powell of GATA sits down with Bridgitte Anderson during the Cambridge House Vancouver Resource Investment Conference to chat about the Gold Anti-Trust Action Committee's efforts to flush out the truth behind the gold price.
Sunday, January 27, 2013
Truth About Markets
Keiser Report - Plunderers Pumping Pelf
From RussiaToday
In this episode, Max Keiser and Stacy Herbert discuss the American legal system that authorizes plunder, a moral code that glorifies it and a financial system that profits from it. In the second half of the show, Max Keiser talks to Professor Steven A. Ramirez, a former Enforcement Attorney at the US Securities and Exchange Commission, about the broken social contract, when that contract got broken and how to mend it.
In this episode, Max Keiser and Stacy Herbert discuss the American legal system that authorizes plunder, a moral code that glorifies it and a financial system that profits from it. In the second half of the show, Max Keiser talks to Professor Steven A. Ramirez, a former Enforcement Attorney at the US Securities and Exchange Commission, about the broken social contract, when that contract got broken and how to mend it.
Saturday, January 26, 2013
Jon Nadler on Germany's Gold and the Silver Shortage
Hey Jon the Soviet menace died over 20yrs ago and only now do the Germans think of having a new storage plan? Hey if I wanted 20% of my gold out of storage I would have already worked out where to put it and hence would want it back right now. The 7 year delay is BS, it surely has to be to allow gold leases to expire and for gold to be called back from the bullion banks. Of course this gold will have to be bought in the open market as these leases expire as the whole point of a gold lease is to sell the metal into the market and capture the spread.
PS. As a rule I never trust a guy who wears shirts made from the satin sheets of a bordello.
From KitcoNews
PS. As a rule I never trust a guy who wears shirts made from the satin sheets of a bordello.
From KitcoNews
Even on Australia Day the RBA is happy for Pommies to hold 99.9% of their Gold
 |
| The RBA's gold scales sit dreaming of all the gold they have weighted in the past |
On the eve of Australia Day I received a reply to my email to the Reserve Bank of Australia (RBA). It seems even on Australia Day, and every other day for the foreseeable future, the RBA is willing to trust a bunch of bankers on a wet miserable little island off the coast of France, who have engaged in QE and are implicated in the LIBOR rigging scandal, to hold 99.9% of their gold. So much for the independent Australian spirit and patriotism.
My email dated 17 Jan 2013:
Good Morning Chris,
I imagine you are aware of the press release by the Bundesbank overnight that they would be withdrawing all of their Gold Reserves from Paris and drawing down on their holdings at the New York Fed.
Reference: http://tinyurl.com/ahsnjtl
Reason given for repatriating this Gold was explained by board member Carl-Ludwig Thiele:
"The two most important functions of the gold reserves are building confidence at home and may, within the shortest possible time to be able to exchange gold at gold trading centres abroad for foreign currencies"
In light of this news is the RBA considering repatriating some of the RBA's Gold Reserves from London to provide confidence at home whilst still having the liquidity that the London market provides?
RBA's reply dated 25 Jan 2013:
Greg
Thank you for your email.
The Bank does not have anything to add to the response provided to you on 19 December.
Regards
Chris Collins | Manager | Media & Public Relations Office
RESERVE BANK OF AUSTRALIA | 65 Martin Place, Sydney NSW 2000
p: +61 2 9551 9830 | f: +61 2 9551 8033 | w: www.rba.gov.au
Text of the RBA's email response to me dated 19/12/12:
Thank you for your email.
As at end-June 2011 the Reserve Bank of Australia held 80 tonnes of gold in London Good Delivery bars. The Reserve Bank holds 99.9 per cent of its gold reserves in the United Kingdom at the Bank of England. The remaining 0.1 per cent is held at the Reserve Bank’s Head Office in Sydney.
London is a major global gold trading market and the Bank of England provides a secure and cost-effective storage location for central banks and market participants. The Reserve Bank has processes in place to ensure that the gold reserves are maintained appropriately. It is not considered necessary from management, security or operational perspectives to relocate the gold bars to a facility in Australia.
The Reserve Bank has reviewed its approach to releasing details about its management of the physical reserves of gold and decided to release the above information.
Please note that we answered your previous questions as a routine public enquiry. The FOI Act concerns itself with the release of documents, rather than answering questions, so a request must seek documents to be valid.
Regards
Chris Collins | Manager | Media & Public Relations Office
RESERVE BANK OF AUSTRALIA | 65 Martin Place, Sydney NSW 2000
p: +61 2 9551 9830 | f: +61 2 9551 8033 | w: www.rba.gov.au
RESERVE BANK OF AUSTRALIA | 65 Martin Place, Sydney NSW 2000
p: +61 2 9551 9830 | f: +61 2 9551 8033 | w: www.rba.gov.au
Alex Jones goes on full auto gun rampage
As many had feared Alex Jones has gone postal, shooting several workmates with a fully auto bubble gun, when will this madness be stopped! I call for a ban on all fully and semi auto bubble guns and to restrict detergent bottles to 10ml.
Story referenced about a 5yo girl being labelled a terrorist for a similar brazen attack can be read here
Story referenced about a 5yo girl being labelled a terrorist for a similar brazen attack can be read here
Friday, January 25, 2013
Now the Swiss want their Gold back
From the website '20 minutes' comes a report that 90k signatures of the required 100k have been raised to force disclosure, repatriation and additional purchases of gold by the Swiss National Bank (SNB).
Link to report in German
Translated into English (by google)
By Lukas Hässig
Home to Switzerland must get their gold from abroad? The SVP initiative calling for the missing, only 10,000 signatures. The SNB could get into trouble.
Where are the 1,040 tonnes of gold the Swiss National Bank?
The question is now being seriously discussed with us. The response of the SNB remains nebulous. Most of it is here, but some lie abroad, said the central bank. "We do not want to be precise," says SNB spokeswoman Silvia Oppliger. "Maybe we will express more precisely, should the gold initiative come about."
Interestingly, Switzerland has been a long time before the Germans and taken without public vertebral the topic. Circles from the People's Party launched 16 months ago, the gold initiative. Because the project in parliament remained chance would just started as the last remaining means an initiative, the initiators said then. By referendum, they want to force the SNB to store all the gold in Switzerland and sell no single ton more. In addition to the SNB within 5 years after voting to increase their gold holdings massively so that it accounts for a fifth of the minimum in the whole balance.
The question is now being seriously discussed with us. The response of the SNB remains nebulous. Most of it is here, but some lie abroad, said the central bank. "We do not want to be precise," says SNB spokeswoman Silvia Oppliger. "Maybe we will express more precisely, should the gold initiative come about."
Interestingly, Switzerland has been a long time before the Germans and taken without public vertebral the topic. Circles from the People's Party launched 16 months ago, the gold initiative. Because the project in parliament remained chance would just started as the last remaining means an initiative, the initiators said then. By referendum, they want to force the SNB to store all the gold in Switzerland and sell no single ton more. In addition to the SNB within 5 years after voting to increase their gold holdings massively so that it accounts for a fifth of the minimum in the whole balance.
Gold Market Manipulation - GATA Update at the VRIC13
From Cambridge House
For years the Gold Anti Trust Action Committee has been on the front lines pushing for an audit of the Federal Reserve. Headway is being made and GATA is here to give an official update.
Featuring Chris Powell, Bill Murphy & Ed Steer. http://www.gata.org/
For years the Gold Anti Trust Action Committee has been on the front lines pushing for an audit of the Federal Reserve. Headway is being made and GATA is here to give an official update.
Featuring Chris Powell, Bill Murphy & Ed Steer. http://www.gata.org/
Kim Dotcom wants to encrypt half of the Internet to end government surveillance
Note the audio is split. Kim in your left ear, interviewer in your right so don't try to listen with one earbud like I just did whilst eating lunch.
From RTAmerica
From RTAmerica
How Obama saved my job
A classic Adam Kokesh video showing that 99.9% of people don't realise that for the government to "give" you something if must first steal that money from others or borrow that money from a Central Bank then steal that money + interest from others in the future.
From AdamKokesh
From AdamKokesh
If you had sold Apple 6months ago and bought Silver you would be 45% better off
If you had sold Apple shares 6 months ago (at $600) you would have avoided the 25% share price slump, then if you had invested those US dollars into silver you have been up 20% on your silver. A 45% improvement over holding onto a cult stock that makes computers for people that prefer form over function. But then maybe Apple shareholders also now prefer form over performance.
 |
| Source: Google Finance - Yahoo Finance - MSN Money |
Keiser Report - Burgers, Banksters & Blackholes
From RussiaToday
n this episode, Max Keiser and Stacy Herbert discuss the Brits offended by the horsemeat in their burgers and yet silent on the disgusting black holes of toxic debts inside taxpayer owned banks. In the second half of the show, Max Keiser talks to Pulitzer award winning journalist, Jesse Eisinger of ProPublica.org about big banks like Wells Fargo using accounting tricks very similar to those used by Enron, including off balance sheet entities, black box trading, black box loans and black hole financing.
n this episode, Max Keiser and Stacy Herbert discuss the Brits offended by the horsemeat in their burgers and yet silent on the disgusting black holes of toxic debts inside taxpayer owned banks. In the second half of the show, Max Keiser talks to Pulitzer award winning journalist, Jesse Eisinger of ProPublica.org about big banks like Wells Fargo using accounting tricks very similar to those used by Enron, including off balance sheet entities, black box trading, black box loans and black hole financing.
Thursday, January 24, 2013
Huge Oil Deposit In Australia?
From TheYoungTurks
" Australian resources firm Linc Energy said it had uncovered a huge oil deposit in the nation's vast outback in a discovery hailed Thursday by officials as worth some Aus$20 trillion (US$21 trillion).
Linc said two independent reviews of its three deposits in central Australia's Arckaringa Basin had estimated there was up to 233 billion barrels of shale oil trapped within its rocks."*
There is apparently a huge deposit of oil in the Australian outback, which the nation is excited about, because it may represent energy independence for them. It just leaves us wondering...how soon until we invade Australia? Cenk Uygur and Ana Kasparian discuss the discovery.
*Read more from AFP: http://www.google.com/hostednews/afp/article/ALeqM5iDu3ucMhmgDHU3rK6zF5nF9vUW...
" Australian resources firm Linc Energy said it had uncovered a huge oil deposit in the nation's vast outback in a discovery hailed Thursday by officials as worth some Aus$20 trillion (US$21 trillion).
Linc said two independent reviews of its three deposits in central Australia's Arckaringa Basin had estimated there was up to 233 billion barrels of shale oil trapped within its rocks."*
There is apparently a huge deposit of oil in the Australian outback, which the nation is excited about, because it may represent energy independence for them. It just leaves us wondering...how soon until we invade Australia? Cenk Uygur and Ana Kasparian discuss the discovery.
*Read more from AFP: http://www.google.com/hostednews/afp/article/ALeqM5iDu3ucMhmgDHU3rK6zF5nF9vUW...
Rick Rule - America is too political
From Cambridge House
Cambridge House Live anchor Bridgitte Anderson has a wide-ranging conversation with billionaire financier (and Chairman of Sprott USA Holdings) Rick Rule, discussing the United States' fiscal policy, government meddling in the financial markets and the number one lesson he's learned about investing. Taped in January 2013 at Cambridge House International's Vancouver Resource Investment Conference. http://www.cambridgehouse.com
Cambridge House Live anchor Bridgitte Anderson has a wide-ranging conversation with billionaire financier (and Chairman of Sprott USA Holdings) Rick Rule, discussing the United States' fiscal policy, government meddling in the financial markets and the number one lesson he's learned about investing. Taped in January 2013 at Cambridge House International's Vancouver Resource Investment Conference. http://www.cambridgehouse.com
Australia and China Plan Joint Military Exercises
Video source
In a bid to boost influence across the region, Australia has agreed to joint military operations with China. The WSJ's Andrew Critchlow talks about what impact this move may have.
In a bid to boost influence across the region, Australia has agreed to joint military operations with China. The WSJ's Andrew Critchlow talks about what impact this move may have.
Mining asteroids in outer space - Planetary Resource's Chris Lewicki
From Cambridge House
Planetary's Resources' President & Chief Engineer (and former NASA scientist) Chris Lewicki chats with Cambridge House Live anchor Bridgitte Anderson about his company's efforts to mine asteroids in space. His company is backed by billionaires like James Cameron, Google Chairman Eric Schmidt, Google founder Larry Page and many other notable tech billion/millionaires. It was taped January 21, 2013, at Cambridge House International's Vancouver Resource Investment Conference.
Planetary's Resources' President & Chief Engineer (and former NASA scientist) Chris Lewicki chats with Cambridge House Live anchor Bridgitte Anderson about his company's efforts to mine asteroids in space. His company is backed by billionaires like James Cameron, Google Chairman Eric Schmidt, Google founder Larry Page and many other notable tech billion/millionaires. It was taped January 21, 2013, at Cambridge House International's Vancouver Resource Investment Conference.
Bank of Japan Reignites Currency War Debate
From Daily Ticker
Lauren Lyster and Jim Rickards discuss the Japanese moves to cheapen their currency in the latest round of the Currency War.
Lauren Lyster and Jim Rickards discuss the Japanese moves to cheapen their currency in the latest round of the Currency War.
click on image to access video
Central Banks Repatriate Gold: How Will This Affect Investors?
From the Daily Ticker
Lauren Lyster and Jim Rickards discuss Germany's repatriation of gold and the implications this will have to the ongoing currency war.
Lauren Lyster and Jim Rickards discuss Germany's repatriation of gold and the implications this will have to the ongoing currency war.
click on image to access video
US company looks to space for precious metals
From guardian.co.ukOriginal source
A US company has unveiled plans to launch a fleet of spacecraft to hunt for small asteroids that pass close to Earth which might one day be mined for their precious resources.
Deep Space Industries aims to fly a series of low cost prospecting satellites in 2015 on missions of two to six months, with larger spacecraft embarking on round-trips to collect material a year later.
Asteroids vary in their compositions, but some are rich in the platinum group materials and other highly valued metals. Some asteroids are largely made from nickel-iron alloys.
Read in full
Wednesday, January 23, 2013
Tuesday, January 22, 2013
Keiser Report: Threshold of Tyranny Passed
From RussiaToday
In this episode, Max Keiser and Stacy Herbert discuss the closing of the American mind as intellectual troublemakers like Aaron Swartz are locked up for decades rather than set free to innovate. They look at the two tier justice system in which these intellectual troublemakers are persecuted while political benefactors on Wall Street are allowed to commit an endless array of financial crimes without any fear of prosecution. In the second half of the show, Max Keiser talks to Alex Jones about his appearance on Piers Morgan's show on CNN. They also discuss the targeting of activists and the role of new media taking on the dinosaurs of media.
In this episode, Max Keiser and Stacy Herbert discuss the closing of the American mind as intellectual troublemakers like Aaron Swartz are locked up for decades rather than set free to innovate. They look at the two tier justice system in which these intellectual troublemakers are persecuted while political benefactors on Wall Street are allowed to commit an endless array of financial crimes without any fear of prosecution. In the second half of the show, Max Keiser talks to Alex Jones about his appearance on Piers Morgan's show on CNN. They also discuss the targeting of activists and the role of new media taking on the dinosaurs of media.
Gold Protects Japanese from their Central Bank
From smh.com.au
Original source
The Bank of Japan doubled its inflation target to 2 per cent and made an open-ended commitment to buy assets from next year, surprising markets that had expected another incremental increase in its $1.1 trillion asset-buying and lending program.
But central bankers were divided on the new price target with two in the nine-member board voting against setting it at 2 per cent, underscoring the dilemma the BoJ faces as it struggles to beat deflation with its depleted policy arsenal.
The BoJ has been under relentless pressure from new Prime Minister Shinzo Abe for bolder action to overcome deflation and lift the economy out of recession.
Until today, the central bank had pledged to pump 101 trillion yen ($1.06 trillion) into markets with its asset-buying and lending program by the end of this year, but had made no commitment on whether to maintain the balance beyond 2014.
Read more: http://www.smh.com.au/business/world-business/japan-steps-up-fight-against-deflation-20130122-2d4mk.html#ixzz2IhfJPhG9
Original source
The Bank of Japan doubled its inflation target to 2 per cent and made an open-ended commitment to buy assets from next year, surprising markets that had expected another incremental increase in its $1.1 trillion asset-buying and lending program.
But central bankers were divided on the new price target with two in the nine-member board voting against setting it at 2 per cent, underscoring the dilemma the BoJ faces as it struggles to beat deflation with its depleted policy arsenal.
The BoJ has been under relentless pressure from new Prime Minister Shinzo Abe for bolder action to overcome deflation and lift the economy out of recession.
Until today, the central bank had pledged to pump 101 trillion yen ($1.06 trillion) into markets with its asset-buying and lending program by the end of this year, but had made no commitment on whether to maintain the balance beyond 2014.
Read more: http://www.smh.com.au/business/world-business/japan-steps-up-fight-against-deflation-20130122-2d4mk.html#ixzz2IhfJPhG9
Gold protects Japanese savers from politicians and Central Bankers
Monday, January 21, 2013
Quote of the Week
“Sometimes people don’t want to hear the truth because they don’t want their illusions destroyed”
Friedrich Nietzsche
Gerald Celente - Germany brings home its Gold
MEGA Launch at Kim Dotcom's Mansion
If you want to know more about MEGA, the encrypted file storage site, or more about the Kim Dotcom story visit Kim's website here
Obama Sworn in for Second Term
Barry says he will protect the Constitution of the US whilst personally impinging on the 2nd amendment, funding the TSA to violate the 4th, and detaining or killing those who use the 1st. This is going to a most interesting Presidential term.
From AssociatedPress
On the cusp of his second term, President Barack Obama took the oath of office in an intimate White House ceremony, a swearing-in ritual he will repeat on Monday before a massive crowd at the Capitol.
From AssociatedPress
On the cusp of his second term, President Barack Obama took the oath of office in an intimate White House ceremony, a swearing-in ritual he will repeat on Monday before a massive crowd at the Capitol.
Sunday, January 20, 2013
Truth about Markets brings home the Gold
Keiser Report: Welcome Home German Gold
*** A must watch Keiser Report *** After years of behind the scenes agitation by Stacy and Lars Schall the Bundesbank, after growing public pressure, has agreed to repatriate and test some of their gold holdings.
From RussiaToday
In this episode, Max Keiser and Stacy Herbert discuss the currency war masquerading as a 'storage plan,' the Bond Kings threatening the gold repatriating Germany with having a Libya done to them and the Mexican taco stand in Florida advising customers to invest in silver. In the second half of the show, Max Keiser talks to Doug Casey of CaseyResearch.com about German gold, Glenn's Gulch and future war.
From RussiaToday
In this episode, Max Keiser and Stacy Herbert discuss the currency war masquerading as a 'storage plan,' the Bond Kings threatening the gold repatriating Germany with having a Libya done to them and the Mexican taco stand in Florida advising customers to invest in silver. In the second half of the show, Max Keiser talks to Doug Casey of CaseyResearch.com about German gold, Glenn's Gulch and future war.
James Turk - Germany's Gold being held Hostage
Saturday, January 19, 2013
Its Gold for Australia
From AssociatedPress
An amateur prospector has discovered a massive gold nugget in Australia, worth an estimated $315,000. The man located it with a metal detector in Ballarat, Australia.
An amateur prospector has discovered a massive gold nugget in Australia, worth an estimated $315,000. The man located it with a metal detector in Ballarat, Australia.
Confessions of an Economic Hitman
From breakingtheset
Abby Martin interviews John Perkins, economist and author of 'Confessions of an Economic Hitman', about how corporations are determining the world order, and how assassins take out those who challenge the system.
Abby Martin interviews John Perkins, economist and author of 'Confessions of an Economic Hitman', about how corporations are determining the world order, and how assassins take out those who challenge the system.
Weekend Chillout - Those who dig
Well that was exciting week, what with Germans digging for lost gold and Kenyans in search of guns and ammo. It reminds of me of the immortal words of Client Eastwood.
"See in this world there are two kinds of people my friend,
those with loaded guns and those who dig"
CNBC finally mentions the German Gold Repatriation story
This is a classic piece of MSM pap. I love the bubble head "why don't the Germans trust us to hold their gold" - well gee just maybe cause the gold is at the New York Fed. Although at least one of the hosts realises this is a big story, particularly when it comes to gold "leasing", aka selling gold into the market which is never expected to be requested back.
If nothing else the following video is good for a laugh and to see how the world's leading business channel has to play catch up, to even this humble little blog.
If nothing else the following video is good for a laugh and to see how the world's leading business channel has to play catch up, to even this humble little blog.
Unlike real journalists who have been calling this story for years
Friday, January 18, 2013
Breaking The Set
From breakingtheset
Abby Martin Breaks the Set on Boots Riley, Media Herd Mentality and the Lawrence Livermore Laboratory.
Abby Martin Breaks the Set on Boots Riley, Media Herd Mentality and the Lawrence Livermore Laboratory.
Keiser Report: Devil's Deadly Derivatives
From RussiaToday
In this episode, Max Keiser and Stacy Herbert discuss the risk of toxic derivatives, annoying neighbors and Glenn Beck's 'libertarian' paradise. They also discuss the belief that markets can predict stock prices, which they can't . . . unless they're rigged, which they are. In the second half of the show, Max Keiser talks to Nick Dunbar, author of The Devil's Derivatives and Inventing Money and journalist at Bloomberg, about the Escher painting that is the global derivatives market where bankers are trading an option on an option that is a bet upon a bet upon a bet on a bet on a bet upon which there may be no collateral.
In this episode, Max Keiser and Stacy Herbert discuss the risk of toxic derivatives, annoying neighbors and Glenn Beck's 'libertarian' paradise. They also discuss the belief that markets can predict stock prices, which they can't . . . unless they're rigged, which they are. In the second half of the show, Max Keiser talks to Nick Dunbar, author of The Devil's Derivatives and Inventing Money and journalist at Bloomberg, about the Escher painting that is the global derivatives market where bankers are trading an option on an option that is a bet upon a bet upon a bet on a bet on a bet upon which there may be no collateral.
Thursday, January 17, 2013
Obama Responds To Alex Jones
From TheAlexJonesChannel
Don't forget in this US debate other responsible countries protect their teachers and students, such as Thailand
Jamie Dimon's Pay Cut in Half
Jan. 16 (Bloomberg) -- JPMorgan CEO Jamie Dimon had his pay cut in half after a review of losses at the bank’s chief investment office found he bears responsibility for the blunders. Bloomberg's Dawn Kopecki reports on Bloomberg Television's "Market Makers."
It just had to be asked
|
| Gold scales at the RBA sit forlornly having no gold to weigh |
Good Morning Chris,
I imagine you are aware of the press release by the Bundesbank overnight that they would be withdrawing all of their Gold Reserves from Paris and drawing down on their holdings at the New York Fed.
Reference: http://tinyurl.com/ahsnjtl
Reason given for repatriating this Gold was explained by board member Carl-Ludwig Thiele:
"The two most important functions of the gold reserves are building confidence at home and may, within the shortest possible time to be able to exchange gold at gold trading centres abroad for foreign currencies"
In light of this news is the RBA considering repatriating some of the RBA's Gold Reserves from London to provide confidence at home whilst still having the liquidity that the London market provides?
Its Official - Bundesbank to Bring Home Gold
As widely speculated Germany's Bundesbank has announced a repatriation of all of it Gold Reserves held in Paris by the Banque de France and a draw down on is holdings at the New York Fed.
Press Release:
Frankfurt 16.01.2013
(translated by google)
Original source (in German)
Bundesbank transferred part of its gold reserves
At a press conference on 16 January 2013 asked the Bundesbank before their new concept for supporting the German gold reserves. As of 2020, half of the gold in vaults at home, store the other half with partner banks in New York and London. Following the 70 journalists present had its first opportunity, in an audit of gold bullion to be there.
"The two most important functions of the gold reserves are building confidence at home and may, within the shortest possible time to be able to exchange gold for gold trading centers abroad in foreign currencies," said board member Carl-Ludwig Thiele. The intended future distribution of gold stocks - one half at home, the other half in the major gold trading centers abroad - Wear these features into account. Gradually by 2020 to 300 tons of gold from New York to Frankfurt and Paris from 374 tonnes to be moved to Frankfurt.
The Bundesbank holds gold reserves totaling 3,391 tons, with a market value of 137.51 billion euros at the balance sheet date 31.12.2012. To date, 31% of the gold stored at the headquarters of the Bundesbank in Frankfurt. The remaining 69% are distributed among the places with partner banks in New York (45%), London (13%) and Paris (11%). The bearings approach the Bundesbank has always been based on three objectives: security, liquidity and cost efficiency.Thiele said the Bundesbank encamped therefore the gold only at partner banks with high international reputation and the highest safety standards. "We have no doubt as to the integrity and reliability of our partners." The board member had even late last year visiting foreign places where the gold reserves and by convinced the proper storage of bullion and the high safety standards. "I expected as all so found, as it should be," he assured. Moreover, it was in the past in connection with the custody of gold holdings in partner central banks have never been in any way to irregularities.
Bundesbank transferred part of its gold reserves
At a press conference on 16 January 2013 asked the Bundesbank before their new concept for supporting the German gold reserves. As of 2020, half of the gold in vaults at home, store the other half with partner banks in New York and London. Following the 70 journalists present had its first opportunity, in an audit of gold bullion to be there.
"The two most important functions of the gold reserves are building confidence at home and may, within the shortest possible time to be able to exchange gold for gold trading centers abroad in foreign currencies," said board member Carl-Ludwig Thiele. The intended future distribution of gold stocks - one half at home, the other half in the major gold trading centers abroad - Wear these features into account. Gradually by 2020 to 300 tons of gold from New York to Frankfurt and Paris from 374 tonnes to be moved to Frankfurt.
The Bundesbank holds gold reserves totaling 3,391 tons, with a market value of 137.51 billion euros at the balance sheet date 31.12.2012. To date, 31% of the gold stored at the headquarters of the Bundesbank in Frankfurt. The remaining 69% are distributed among the places with partner banks in New York (45%), London (13%) and Paris (11%). The bearings approach the Bundesbank has always been based on three objectives: security, liquidity and cost efficiency.Thiele said the Bundesbank encamped therefore the gold only at partner banks with high international reputation and the highest safety standards. "We have no doubt as to the integrity and reliability of our partners." The board member had even late last year visiting foreign places where the gold reserves and by convinced the proper storage of bullion and the high safety standards. "I expected as all so found, as it should be," he assured. Moreover, it was in the past in connection with the custody of gold holdings in partner central banks have never been in any way to irregularities.
Future only two bearings abroad
After completion of the relocation in 2020 50% of the gold reserves would be in domestic vaults, 37% at the Federal Reserve Bank in New York and 13% at theBank of England in London, Thiele. The stock at the Banque de France would be dissolved completely. Reason for this decision were the changed since the introduction of the euro framework. By the single currency area a storage of gold for any potential exchange foreign currency in the case of France was no longer necessary. Thiele thanked the Banque de France for many years of safe storage of gold and praised the very good and friendly relations of the two central banks.
Federal Bank Introduces Gold test procedures
Following the press conference, the journalists had the opportunity to meet the mandatory testing for bullion. In three steps, it is the authenticity of the gold ingot checked and determined its individual nature. Because gold bullion - as the experts of the Federal Bank - have not exactly uniform value. Each is unique, even if the first impression conveyed something else. Thus, a gold bar can be traded on the international gold trading centers, it must meet certain standards. Thus the fineness must at least 995/1000 units Feingold and the weight from 10.9 to 13.4 kg are, the standard gold bars is 12.5 kg. Strict requirements on the shape, appearance, and the available data are also included. To check the authenticity of a bar, the experts first determine its exact scale with a special weight - accurate to one thousandth of a gram. In the second stage of the ingot is X-rayed. Here, the exact components of the surface material, and thus the degree of fineness of the bar can be determined.However, since only the surface can be considered to be in the third step - with the aid of ultrasound - homogeneity, that is the same material composition consistently checked. After completing all three tests, the exact nature of the bar are given.
Following the press conference, the journalists had the opportunity to meet the mandatory testing for bullion. In three steps, it is the authenticity of the gold ingot checked and determined its individual nature. Because gold bullion - as the experts of the Federal Bank - have not exactly uniform value. Each is unique, even if the first impression conveyed something else. Thus, a gold bar can be traded on the international gold trading centers, it must meet certain standards. Thus the fineness must at least 995/1000 units Feingold and the weight from 10.9 to 13.4 kg are, the standard gold bars is 12.5 kg. Strict requirements on the shape, appearance, and the available data are also included. To check the authenticity of a bar, the experts first determine its exact scale with a special weight - accurate to one thousandth of a gram. In the second stage of the ingot is X-rayed. Here, the exact components of the surface material, and thus the degree of fineness of the bar can be determined.However, since only the surface can be considered to be in the third step - with the aid of ultrasound - homogeneity, that is the same material composition consistently checked. After completing all three tests, the exact nature of the bar are given.
Bundesbank's current and planned gold storage allocations:
Video of Bundesbank's Gold Vault
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| Click on image to access video
Identified bars in the video were manufactured by German refinery Degussa.
For more details on Degussa bullion click here
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Wednesday, January 16, 2013
Cat Beats Professional Wealth Managers
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| "I cashed in my stinking shares for silver" |
Original source
Professional wealth managers have long been criticised for charging more than their services are actually worth.
But getting routed by an animal that spends 20 hours a day either asleep or scratching itself is a new low.
In a recent stock-picking challenge, the UK Observer newspaper pitted a trio of investment managers against two groups of amateurs: a handful of high school students, and a house cat named Orlando.
The cat won.
Each team started the year with £5000 ($A7621) in capital to invest in five companies from the FTSE All-Share index. After each quarter, they could swap out whatever stocks they chose, if any.
While the two-legged participants picked stocks the old-fashioned way, Orlando chose by tossing a toy mouse onto a grid of numbers that designated different companies.
Read more: http://www.smh.com.au/executive-style/culture/moggy-shames-experts-in-shares-game-20130115-2crbz.html#ixzz2I6lYywcd
Yen to hit 400 to US Dollar?
Even if this is a fear and not a prediction if you were in Japan saving in Yen why wouldn't you swap out into Gold and Silver to protect the purchasing power of your savings?
Japan whilst in a downturn and having many structural problems is still the world's 3rd largest economy and has substantial personal savings. Whilst most analysts remain fixated on Gold demand from India and China could Japan gold demand, as a result of savers protecting their wealth from Yen depreciation, be the country to watch this year?
Keiser Report: Whore-der of JP Morgan
From RussiaToday
In this episode, Max Keiser and Stacy Herbert discuss the fact that markets don't kill economies, banksters kill economies. They also discuss JP Morgan's copper ETF in London and Blythe Masters, the well known hoar-der of commodities. In the second half of the show, Max Keiser talks to David Hales about the economics of bit torrent and the future of peer to peer banking.
Tuesday, January 15, 2013
Rampant INjustice
Why any intelligent Americans choose to remain in the Land of the Free is beyond me.
Bundesbank wants to bring home Germany's Gold
From handelsblatt.com (translated by google translate)
Original article link (in German)
After the establishment of large parts of the German Bundesbank's gold reserves for safety were deposited with the Allies. Now, the gold from New York and Paris to be retrieved,
Frankfurt,the Bundesbank has developed a new concept, where she wants to continue storing their gold reserves. According to information of the Handelsblatt (service delivery) sees this approach which will be announced next Wednesday before, to revalue the domestic locations, in New York for less to store gold and even to hoard any more gold in Paris.
Thus, the central bank reacts to a report of the Federal Court to examine the financial statements of the Bundesbank and had advised her to create a current bearings concept and documented.
Currently, the gold of the Bundesbank outsourced their claims to New York, London, Paris and Frankfurt. In the American Federal Reserve store 45 percent of the total 3,396 tonnes of gold in the Bank of England in London, 13 percent, in the Bank of France in Paris eleven percent and 31 percent at its headquarters in Frankfurt. This distribution is about to change.
After the establishment of large parts of the German Bundesbank's gold reserves for safety were deposited with the Allies. Now, the gold from New York and Paris to be retrieved,
Frankfurt,the Bundesbank has developed a new concept, where she wants to continue storing their gold reserves. According to information of the Handelsblatt (service delivery) sees this approach which will be announced next Wednesday before, to revalue the domestic locations, in New York for less to store gold and even to hoard any more gold in Paris.
Thus, the central bank reacts to a report of the Federal Court to examine the financial statements of the Bundesbank and had advised her to create a current bearings concept and documented.
Currently, the gold of the Bundesbank outsourced their claims to New York, London, Paris and Frankfurt. In the American Federal Reserve store 45 percent of the total 3,396 tonnes of gold in the Bank of England in London, 13 percent, in the Bank of France in Paris eleven percent and 31 percent at its headquarters in Frankfurt. This distribution is about to change.
Greeks Raid Forests in Search of Wood to Heat Homes
Greece just seems to be getting worse and worse. Being the leading edge of Southern Europe’s descent into 3rd world status, Greece’s lessons are all of our lessons, as I outlined in my piece last year The Global Spring. From the Wall Street Journal:
EGALEO, Greece—While patrolling on a recent cold night, environmentalist Grigoris Gourdomichalis caught a young man illegally chopping down a tree on public land in the mountains above Athens.
When confronted, the man broke down in tears, saying he was unemployed and needed the wood to warm the home he shares with his wife and four small children, because he could no longer afford heating oil.
Tens of thousands of trees have disappeared from parks and woodlands this winter across Greece, authorities said, in a worsening problem that has had tragic consequences as the crisis-hit country’s impoverished residents, too broke to pay for electricity or fuel, turn to fireplaces and wood stoves for heat.
Such woodcutting was last common in Greece during Germany’s brutal occupation in the 1940s, underscoring how five years of recession and waves of austerity measures have spawned drastic measures.
“The average Greek will throw anything into the fireplace that can be burned, ranging from old furniture with lacquer, to old books with ink, in order to get warm,” said Stefanos Sapatakis, an environmental-health officer at the Hellenic Center for Disease Control and Prevention.
Glad Europe is fixed.
Full article here.
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