Sunday, June 30, 2013

Keiser Report- Peek-a-boo Accounting

From RussiaToday

Published on Jun 29, 2013

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the latest peek-a-boo accounting fashion trends looking great matched with a missold swap or wrapped in an accidental misplacement of segregated client funds. If your name is Jane Tacky Toe Polish, however, do not try the latest in financial fraud trends as you'll be sent to prison for a long time.

In the second half, Max talks to Francine McKenna of about the Bernie Madoff of munis and the cooked bailout books at Anglo-Irish bank.


From silverdoctors


What Country is This?

Saturday, June 29, 2013

CNBC - "Should gold have ever been $19/oz in the first place?"

OMG where to start with the baboons attacking Peter Schiff and gold. Watch out for the first clanger when the host says "should gold have ever been $19/oz in the first place?" - um well gold hasn't been $19/oz since WWI. Then he finally admits "how about the fact that it’s darn easy to sell these days because it’s just a piece of paper and a computer transaction.” - Yes exactly people are selling paper gold and more importantly they are shorting paper gold.

On Peter's comments about inflation and gold mining, I think it is very valid point, when prices for gold were lower 10 years ago so was oil and more importantly gold ore grades were higher. I think $1200 is a good estimate for cash costs. If it wasn't why is Newmont shutting down gold mines in Papua New Guinea and laying off staff in Australia?

Quote of the Week

Brother JohnF - Undervalued Silver

From BrotherJohnF

Friday, June 28, 2013

Weekend Chillout - Runaway

With Edward Snowden choosing to runaway instead of being killed by the US Government one has to wonder if he will ever be able to stop running.

Keiser Report: #AngloTapes & Banksters' Trolololing

From RussiaToday

Published on Jun 27, 2013
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the hashtag AngloTapes and the trolollolling by the banksters at the heart of the Anglo Irish scam to get taxpayers to bail them out before the same taxpayer could understand how much was really needed. They also discuss 'feral hogs' and colonscopies for lulz banksters. In the second half, Max talks to journalist and author, Andrew McGettigan, about the attempts by the UK government to sell off its £40 billion student debt portfolio.

Gerald Celente - Trends In The News

From trendsjournal

Gerald Celente on NSA Leaks

From trendsjournal

Breaking The Set - US Militarizing Africa, AU Summit, George Orwell's Birthday, Modern-day Eugenics

From breakingtheset

Chasing Snowden - Don't Shoot The Messenger

From RussiaToday

Let's get physical - UK Gold refiner Baird's take on the market

From GoldMoneyNews

Snowden Snowballs US Dollar with Joseph Salerno

From theprimeinterest

Wednesday, June 26, 2013

Unlike: Jihadi terrorists dodge PRISM with anti-social networks

From RussiaToday

Professor Poliakoff is back with more Platinum

From periodicvideos

Australian PM Ousted in Leadership Spill

Former Australian PM, Kevin Rudd has toppled current PM Julia Gillard for the leadership of the Australia's ruling Labor Party.

Gold dips below $1250 and Silver $19

*** Update: Sorry all I originally posted this story stating silver was under $18 has been a long day ***

Gold has dipped below another psychological level of $1250 and Silver below $19 in Asian hours trading. The trend has continued into the London session which does not bode well for the Comex session overnight.

"It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way--in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only."

Charts from

Snowden proves if you live principled life you can change world

From RussiaToday

Where is Edward Snowden?

From TheYoungTurks

Tuesday, June 25, 2013

Keiser Report - No Fairness, Let Us Cheat!

From RussiaToday

Published on Jun 25, 2013 In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the 'taxation without representation' of our day which is the Chinese demand for: "We want fairness. There is no fairness if you do NOT let us cheat.". The demands for the right to cheat reminds Max of Thomas Jefferson who said, "The right to life, liberty and the pursuit of cheating."

In the second half, Max talks to Simon Rose of about Mark Carney's imminent arrival at the Bank of England, the idea that capitalists should hold protests demanding that capitalism be tried and the coming Bondpocalypse and the lying, cheating Anglo Irish bankers caught on tape.

Glenn Greenwald vs Meet the Press

From TheYoungTurks

The Biggest Ponzi Scheme In The History Of The World

By Michael Snyder of The Economic Collapse blog,

Did you know that you are involved in the most massive Ponzi scheme that has ever existed? To illustrate my point, allow me to tell you a little story.

Once upon a time, there was a man named Sam. When he was younger, he had been a very principled young man that had worked incredibly hard and that had built a large number of tremendously successful businesses. He became fabulously wealthy and he accumulated far more gold than anyone else on the planet. But when he started to get a little older he forgot the values of his youth. He started making really bad decisions and some of his relatives started to take advantage of him. One particularly devious relative was a nephew named Fred. One day Fred approached his uncle Sam with a scheme that his friends the bankers had come up with. What happened next would change the course of Sam's life forever.

Even though Sam was the wealthiest man in the world by far, Fred convinced Sam that he could have an even higher standard of living by going into a little bit of debt. In exchange for IOUs issued by his uncle Sam, Fred would give him paper notes that he printed off on his printing press. Since the paper notes would be backed by the gold that Sam was holding, everyone would consider them to be valuable. Sam could take those paper notes and spend them on whatever his heart desired. Uncle Sam started to do this, and he started to become addicted to all of the nice things that those paper notes would buy him.

Fred took the IOUs that he received from his uncle and he auctioned them off to the bankers. But there was a problem. The IOUs issued by Uncle Sam had to be paid back with interest. When the time came to pay back the IOUs, Uncle Sam could not afford to pay back the debts, pay the interest on those debts, and buy all of the nice things that he wanted. So Uncle Sam issued even more IOUs than before so that he could get enough notes to pay off his debts. As time rolled on, this pattern just kept on repeating. Uncle Sam repeatedly paid off his old debts by taking out even larger new debts.

Meanwhile, since the notes that Uncle Sam was using were backed by gold, everyone else in the world decided to start using them to trade with one another. This was greatly beneficial to Uncle Sam, because the rest of the world was glad to send him oil, home electronics, plastic trinkets and anything else that Uncle Sam wanted in exchange for his gold-backed notes.

Eventually, however, the rest of the world started to suspect that the number of gold-backed notes that Uncle Sam was issuing far exceeded the amount of gold that Uncle Sam actually had. So the rest of the world started to trade in their notes for gold.

And by that time Uncle Sam definitely did not have enough gold to back up his notes. Realizing that the scheme was starting to collapse, one day Uncle Sam announced that his notes would no longer be backed by gold. But he insisted that the rest of the world should continue using his notes because he was the wealthiest man on the planet and everyone should just trust him.

And the rest of the world did continue to trust him, although it wasn't the same as before.

As Uncle Sam got greedier and greedier, he started to issue IOUs and spend notes at a rate that nobody ever dreamed possible. The great businesses that Uncle Sam had built when he was younger were starting to decline, and Uncle Sam started buying far more stuff from the rest of the world than they bought from him. The rest of the world was still glad to take Uncle Sam's notes because they used them to trade with one another, but they started accumulating far more notes than they actually needed.

Not sure exactly what to do with mountains of these notes, the rest of the world started to loan them back to Uncle Sam. It eventually got to the point where Uncle Sam owed the rest of the world trillions of these notes. Even though the notes were losing value at a rate of close to 10 percent a year, Uncle Sam somehow convinced the rest of the world to loan him notes at an average rate of interest of less than 3 percent a year.

One day Uncle Sam woke up and realized that the amount of debt that he owed was now more than 5000 times larger than it was when Fred had first approached him with this ill-fated scheme. Uncle Sam now owed more than 16 trillion notes to his creditors, and Uncle Sam had already made future financial commitments of 202 trillion notes that he would never be able to pay. Meanwhile, the notes that Fred had been printing up for Uncle Sam were now worth less than 5 percent of their original value. Uncle Sam was becoming concerned because some of his other relatives were warning that this whole scheme was about to collapse.

Sadly, Uncle Sam did not listen to them. Uncle Sam knew that if he admitted how fraudulent the financial scheme was, the rest of the world would quit sending him all of the things that he needed in exchange for his notes and they would quit lending his notes back to him at super low interest rates.

And if the rest of the world lost confidence in his notes and quit using them, Uncle Sam knew that his standard of living would go way, way down. That was something that Uncle Sam could not bear to have happen.

When a financial crisis almost caused the scheme to crash in 2008, a desperate Uncle Sam went to Fred and asked for help. In response, Fred started printing up far more notes than ever before and started directly buying up large amounts of IOUs from Uncle Sam with the notes that he was creating out of thin air. Fred hoped that the rest of the world would not notice what he was doing.

It seemed to work for a little while, but then an even worse financial crisis came along. Once again, Uncle Sam started issuing massive amounts of new IOUs and Fred started printing up giant mountains of new notes to try to fix things, but their desperate attempts to keep the system going were to no avail. The rest of the world started to realize that they had been sucked into a massive Ponzi scheme, and they lost confidence in the notes that Uncle Sam was using. Suddenly nobody wanted to lend notes to Uncle Sam at super low interest rates anymore, and people started asking for far more notes in exchange for the things that Uncle Sam wanted.

Uncle Sam's standard of living dropped dramatically. Since he could no longer flood the world with his notes, Uncle Sam could not continue to consume far, far more wealth than he produced. Uncle Sam sunk into a deep depression as he watched the scheme fall apart all around him.

Uncle Sam had once been the wealthiest man on the entire planet, but now he was a broke, tired old man that was absolutely drowning in debt. Unfortunately, once he was down on his luck the rest of the world did not have any compassion for him. In fact, much of the rest of the world celebrated the downfall of Uncle Sam.

All of this could have been avoided if Uncle Sam had never agreed to Fred's crazy scheme. And once Uncle Sam made the decision to stop backing his notes with gold, it was only a matter of time before the scheme was going to collapse.

Does this little story sound crazy to you? It shouldn't. The truth is that you are involved in such a scheme right now. In case you haven't figured it out, "Uncle Sam" is the United States, the "notes" are U.S. dollars, and "Fred" is the Federal Reserve.

Please share this story with as many people as you can. Our country is headed for complete and total financial disaster, and we need to get people educated about this while there is still time.

Peter Schiff - The Bond Market Calls Bernanke's Bluff

From SchiffReport

Gold - A Case of Overreaction?

From KitcoNews

Second NSA whistleblower being ignored

From PressTVGlobalNews

Published on Jun 24, 2013
Press TV has conducted an interview with James Corbett, Editor of the Corbett from Osaka about NSA whistleblower Edward Snowden and the cat and mouse game of evading US extradition.

Abby Martin talks to Larry King about his views on what journalism should be

From breakingtheset

Published on Jun 24, 2013
Abby Martin talks to Larry King, host of RT's Politicking, about his views on what journalism should be, and how they are different from what 'Breaking the Set' presents.

U.S. Stocks Fall on China Slump, Apple Dips 2.7%

Oh dear more Apple sauce.

June 25 (Bloomberg) -- U.S. stocks fell, sending the S&P’ 500 Index to a nine-week low, after Chinese equities entered a bear market amid concern a cash crunch will hurt growth and as investors weighed the impact of a possible reduction in the Fed’s monetary stimulus. Su Keenan reports on Bloomberg Television's "First Up."

Where in the World Is Edward Snowden?

June 25 (Bloomberg) -- The U.S. lashed out at Russia for letting former U.S. intelligence contractor Edward Snowden transit through Moscow as Ecuador considered his bid for asylum. Phil Mattingly reports on Bloomberg Television's "First Up."

Investors Resemble Monty Python's 'Black Knight'

The God of This World

From TheAlexJonesChannel

Published on Jun 24, 2013
Alex details NSA whistleblower Edward Snowden's persecution as the U.S. government attempts to locate as well as pursue espionage charges against him. On today's show, Alex also discusses how the war on journalists, being waged by the likes of NBC's David Gregory, is threatening the very fabric of the First Amendment, and how scenarios like Michael Hastings' death will become the template used by the globalists to frighten and suppress future opposition. Alex also reviews Sen. Rand Paul's statements on CNN's State of the Union where he labeled Director of National Intelligence James Clapper a liar, and Snowden a truth teller.

David Morgan - Gold is not just a commodity. It is Money

From GoldMoneyNews

Truth About Markets

Max Keiser and Stacy Herbert present The Truth About Markets, 22 June 2013. On Resonance 104.4 FM in London.

Monday, June 24, 2013

Ecuador Considers Snowden Asylum Request

From AssociatedPress

A Sick Divergence

Remember when Australia actually made things instead of taking each others temperature?

This is not a sign of a healthy economy, manufacturing generates exports and prevents imports, healthcare consumes tax receipts and private wealth.

Australian Shares Take Another Beating

Declines amongst majors stocks:

  • BHP: -3.4%
  • Rio: -2.1%
  • ANZ: -0.1%
  • CBA: -0.5%
  • NAB: -1%
  • Westpac: -0.6%
  • Fortescue: -4.3%
  • Woolworths: -0.8%
  • Wesfarmers: -0.5%
  • Telstra: -1.1%

Read more:

I used to forget my passwords but now I take a pill for that

Cool, you could store your bitcoins in your tummy....."Hey John have you put on weight over the holidays?....oh no I just added to my bitcoin holdings".   Although rubbing tummies with strangers to effect a transfer could be a bit awkward.


How Low Can Gold Go?

Kudlow: I like to see gold falling. I'm not sure I like to see it falling fast. It's a long way down and maybe it's gone to a thousand bucks. I have no idea, but if you have a combination of a stable king dollar or even a stronger king dollar and falling gold prices, what would that tell you?

Yes that is right you have no idea. As to what it tells you it means that Westerners are believing the BS from B.S. Bernanke whilst Chinese and Indians are queuing to buy gold while it is still on sale. 

China Slowdown Now a Clear & Present Danger

Concerns about China’s economy intensified Thursday after a private measure of manufacturing came in at its lowest level in nine months. The HSBC/Markit flash China PMI survey also featured a steep drop in new export orders, indicating China is suffering from global weakness, notably in Europe.

Click on the pic to access the Yahoo video

Breaking The Set - Gangster Banksters and Brazilians

From breakingtheset

11 Silver Things You Need To Know About Silver

From TruthNeverTold

Brother JohnF - Silver Shocker

From BrotherJohnF

Greg Hunter on Middle East, Stock Market, Gold and Silver, NSA and More

From Greg Hunter

Paul Craig Roberts on Gold and the Fed

Dr. Roberts discusses the gold market and the recent Fed announcements. Listen to the KWN interview here

Marc Faber - Likes Gold More Than Equities

"If you believe that [Bernanke] means what he says, then you believe in Father Christmas." "we are going to see QE99," "the S&P could drop 20-30%from the recent highs - easily." "The only thing that I know is that I want to own some physical gold because I don't want all of my assets in financial assets." ~ Marc Farber

Sunday, June 23, 2013

Snow Forecast in Cuba

Game Set Match: 'US loses as Snowden slips from their hands'

From RussiaToday

Published on Jun 23, 2013
US whistleblower Edward Snowden is en route to Moscow from Hong Kong on an Aeroflot flight, Hong Kong authorities have confirmed. The US filed an extradition order for Snowden alleging espionage, theft and conversion of government property - READ MORE

Traders Throw Out the Kitchen Sink on Threat of Fed Taper!

From silverdoctors

Keiser Report: Global Financial Holocaust

From RussiaToday

Published on Jun 22, 2013.

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss pepper spraying protesters while contemplating possibly, maybe one day out in the far distant future charging banksters for 'reckless misconduct' - aka destroying the global financial, monetary and economic systems.

In the second half, Max talks to the author of a new book, Transforming Economy: From Corrupted Capitalism to Connected Communities, Zeus Yiamouyiannis of about an Academy Award for best horror fraud going to Fraudclosure; the use of kitty litter collateral to back the global financial system and ending your contribution to the phoney economy.

US files espionage charges against Snowden, calls for his arrest in Hong Kong

From South China Morning Post

Article link

Whistle-blower Edward Snowden is facing up to 30 years in jail after the US government filed espionage charges against him and reportedly called for his arrest in Hong Kong.

The Sunday Morning Post understands that contrary to reports yesterday, the former CIA technician is not under the protection of the police and has not been detained.

The 30-year-old is said to be "in a safe place" in the city. Snowden made global headlines on June 9 when he broke cover in Hong Kong and admitted being the source of leaks to newspapers which revealed widespread phone and internet surveillance by the US National Security Agency.

Read more

Quote of the Week

It is getting to the point where the mark of international distinction and service to humanity is no longer the Nobel Peace Prize, but an espionage indictment from the US Department of Justice.
~ Julian Assange 2013

Tradition of giving bride heirlooms keeping gold trade alive in Queensland


Article link

"BIG fat Indian weddings'' are driving the State's gold trade.

The jewellery gifting tradition of the growing Indian population is boosting gold buying and selling outlets, despite a 10 per cent drop in the value of the precious metal over the last 12 months.

Michael Salib, owner of Cash for Gold Australia which is based at Clayfield in Brisbane, said Indian customers were good for business.

There was a 68 per cent jump in the number of permanent resident visas granted in Queensland to those from India from 2011/12 to 2012/13, bolstering the gold rush.

"It is not unusual for us to buy $40,000 worth of gold jewellery from an Indian person in one hit. From my experience, they keep jewellery for many years, for generations, as an investment and when they need a lump sum, say for a deposit for a house, they will come and see us,'' Mr Salib said. "Indians are very savvy and are experts in the trading of gold.''

In Indian culture, family members gift the bride with gold jewellery heirlooms, which act as insurance against hard times.

"The custom comes from the idea that gold is eternal and traditionally older people from India would prefer to gather gold than deal with banks or financial institutions,'' said Keshmi Dovecer, who is of Indian descent and lives in Cleveland, Queensland.

"In the lead up to my 'big fat Indian wedding', close members of my family gave me pieces of jewellery that were family heirlooms. Wedding guests from Indian culture would seek out good deals in jewellery from local buy and sell stores,'' Ms Dovecer said.

Read more:

Make StartPage your Home Page

Do yourself a favour and make your online life a little safer. Go to StartPage and follow the simple instructions to make it your homepage and the only search engine you use. It will protect you from the NSA and targeted Google ads - yes no more ads for handheld GPS locators, PVC piping and Russian brides!

From RTQuestionMore

Saturday, June 22, 2013

Max Keiser on dealing with 'banksters'

Weekend Chillout - Totally Addicted to Base Money

This week's collapse in almost all markets has shown the world has become addicted to Uncle Ben's cheap base money. Like some sad crack whore even the hint of having less in the future sent everyone out to puke up their positions. Surely we have entered some sort of Mad Max world where the law of supply and demand,  not mention the rule of law has broken down.

GSR interviews John Embry on Gold and US Economy

From Radio

GCHQ Spys on Everyone and Shares with NSA

From RussiaToday

Published on Jun 21, 2013 The British spy agency GCHQ has access to the global network of communications, storing calls, Facebook posts and internet histories -- and shares this data with the NSA, Edward Snowden has revealed to the Guardian in a new leak - READ MORE

Brazilian Protests Update

From RTAmerica

Gerald Celente on Die Metallwoche

Chris Martenson's Cure for Fed Monetary Mayhem

From theprimeinterest

Sean, David & Andy Discuss Silver

From SGTbull07

5 NSA Facts - Digging Deeper

From ConspiracyStuff

Friday, June 21, 2013

Mass protests hit Brazil

Follow the latest on the protests on twitter at #changebrazil

From RussiaToday

Precious Metals Plunge

SE Asian Markets Tumble

The rout in global equity markets has continued today.

From Thailand:

Article link

Thai shares plunged as much as 3.29% yesterday as investors around the world took flight after the US Federal Reserve's announcement that it could start winding down its quantitative easing (QE) programme... 

Read more


From Singapore:

Straits Times

Article link

Singapore shares opened lower on Friday, with the benchmark Straits Times Index at 3,074.38, down 1.88 per cent, or 58.88 points.

About 202 million shares exchanged hands.

Losers beat gainers 251 to 11.


From India:

Times of India

Article link

MUMBAI: The BSE benchmark sensex on Friday lost over 79 points in early trade as stocks of FMCG, metal, auto, healthcare and banking sectors fell on sustained capital outflows, tracking a weak trend in the global market.

Extending losses for the second session, the 30-share index fell by 79.13 points, or 0.42%, to 18,640.162. The index had lost 526.41 points in the previous session.

Similarly, the wide-based National Stock Exchange Nifty declined by 14.15 points, or 0.25%, to 5,641.75.

Gold and Silver Meltdown

.......and doesn't the mainstream love telling you.

Gold Trade Most Bearish Since ’10 as Fed Spurs Drop


Gold traders are the most bearish in 3 1/2 years after prices fell to the lowest since 2010 following Federal Reserve Chairman Ben S. Bernanke’s comments that the central bank may start curbing stimulus.

Fifteen analysts surveyed by Bloomberg expect prices to fall next week, with six bullish and five neutral, the largest proportion of bears since January 2010. The metal slumped below $1,300 an ounce for the first time since September 2010 yesterday. Investors sold 520.7 metric tons valued at about $21.7 billion from exchange-traded products this year.

Read more

Julian Assange: 1 Year in Limbo

From breakingtheset

Lee Camp - Facts About The Free Market That Will Blow Your Mind

From LeeCamp2

Clarke and Dawe - The Upcoming Australian Election

Given the bloodbath in the precious metals markets and the Aussie dollar at the moment I thought we needed a laugh before we all did something rash.

From ClarkeAndDawe

No Hyperinflation for Niall Ferguson and NYSE as the Original Dark Pool

From theprimeinterest

Peter Schiff and Rick Santelli on Ben Bernanke

From SchiffReport

Coming to a No-Fly Zone near you - Russia unveils S-300 SAM replacement

From RussiaToday

Ron Paul on Gold

Silver Makes Antibiotics Thousands of Times More Effective

From Scientific American

Article link

Like werewolves and vampires, bacteria have a weakness: silver. The precious metal has been used to fight infection for thousands of years — Hippocrates first described its antimicrobial properties in 400 bc — but how it works has been a mystery. Now, a team led by James Collins, a biomedical engineer at Boston University in Massachusetts, has described how silver can disrupt bacteria, and shown that the ancient treatment could help to deal with the thoroughly modern scourge of antibiotic resistance. The work is published today inScience Translational Medicine.

“Resistance is growing, while the number of new antibiotics in development is dropping,” says Collins. “We wanted to find a way to make what we have work better.”

Collins and his team found that silver — in the form of dissolved ions — attacks bacterial cells in two main ways: it makes the cell membrane more permeable, and it interferes with the cell’s metabolism, leading to the overproduction of reactive, and often toxic, oxygen compounds. Both mechanisms could potentially be harnessed to make today’s antibiotics more effective against resistant bacteria, Collins says.

Read more

Well it could have been worse

Both Gold and Silver have drifted lower in overnight trade on the NY markets, with Gold currently $1278 and Silver $19.69. It will be interesting to see if the drop below the physiological round numbers of $1300 and $20 causes a rush of physical buyers today in Australia and Asia.

Charts from

The Little Au$$ie Batler

Another fallout of Uncle Ben threatening to take the pedal off the metal is that the Aussie dollar has fallen off a cliff, as hot money flows back to hide under the skirt of Uncle Ben Sam.

Chart from

Bill Gross - Markets are reading Bernanke all wrong

Thursday, June 20, 2013

Keiser Report - Size, Scale & Speed of Debt

From RussiaToday

Published on Jun 20, 2013
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the recent visitation to the Keiser Report from a UFO with aliens on board wishing not to speak to Doughball Dave Cameron, but to discuss their concerns about the Giant Debt Ball of China which can be seen from outer space. They take an in depth look at the size, scale and speed of debt in China and at the JP Morgan Debit Card Work Farm for employees at McDonald's in Pennsylvannia.

In the second half, Max talks to Australian economist Steve Keen, author of Debunking Economics, about George Osborne's ponzi-like Help to Buy scheme being similar to failed government housing schemes in Australia in which Help to Sell is the true objective of the subsidies.

Fed Suggests Bond Purchases Could Slow

Gold Punctures $1300 Silver $20

Where to begin. In a bizzaro day in which Uncle Ben hinted that he might easy off on the accelerator, but not even think of dabbing the brake markets and FX has gone crazy. This day has shown that all world markets, even precious metals markets are addicted to cheap money, and it is not even suggested we break the habit, only just inject a little less liquidity. A crack addict could handle this withdrawal better than these markets.

The latest in the market gyrations has been Gold breaking through $1300 and Silver thru $20, although both have since recovered sightly above these levels. It will be interesting to see what happens at the NY Comex open coming up right now.

Charts from

Shares Crash in Global Rout


Article link

Australian shares had their worst day in more than a year, caught up in a global rout after investors were spooked by the US Federal Reserve’s clearest signal yet for a possible end to its multitrillion-dollar stimulus program.

The benchmark S&P/ASX200 slid 103 points, or 2.1 per cent, to 4758.4, their biggest drop since May 2012. The broader All Ordinaries fell 97.9 points, or 2 per cent, to 4743.9. The sell-off wiped nearly $30 billion off the share market's value.

The global rout started on Wall Street after Fed chairman Ben Bernanke outlined the roadmap for a potential pull-back if the economy improved as expected, indicating that the Fed could start winding back its $US85 billion-a-month cash stimulus program as early as September.

That triggered a big sell-off of US equities, a movement into bonds, a stronger US dollar and weaker Australian dollar, which makes holding Australian equities less attractive to foreign investors.

The dollar plunged more than 3 cents to a 33-month-low of 92.25 US cents in late local trade.

‘‘Rather than anything with logic, people have been throwing out the baby with the bathwater,’’
said RBS Morgans senior trader Luke McElwaine.

Read more:

Global Markets: Asia Equities Get Hammered

Wednesday, June 19, 2013

More than just a game

An interesting exploration of the discipline of Gamification, the study of management insights that can be extracted from role playing games.

CrossTalk: US of Security

From RussiaToday

Published on Jun 17, 2013
Is the national security state on the rise? Can society and the media reverse this trend? Is the kind of surveillance practiced today necessary? And, what about checks and balances? CrossTalking with Michael Kelley, Katherine Maher and Dave Lindorff.

Snowden: Truth is coming

From RussiaToday

G8 backs Syria conference

From RussiaToday

Published on Jun 18, 2013
While the G8 was struggling to find a diplomatic end to the Syrian conflict, violence on the ground kept escalating. At least 60 government troops have been killed near Aleppo in a car bomb attack allegedly carried out by Al-Qaeda affiliated rebels - shortly after a similar blast in Damascus that left 10 soldiers dead. To discuss whether what's been agreed at G8 is likely to bring an end to the bloodshed nearer Afshin Rattansi joins RT.

Jason Burack on Silver and the miners

From FinanceAndLiberty

Keiser Report - Life in Open Air PRISM

From RussiaToday

In this episode of the Keiser Report, Max Keiser and Stacy Herbert report from Belfast on location at the G8 and anti-G8 meetings. They juxtapose the protests in China where thousands wait in line to buy gold to protect against G8-style inflationary policies to the less effective protests in Belfast where placards are waved in 'free speech zones;' while, in Westminster, secret proposals are drafted by Rothschilds to retroactively raise interest rates on $40 billion in outstanding student loan debts. The plan is suggested in order to make the debt more attractive to private investors.

In the second half, Max talks to independent journalist, Luke Rudkowski, about fake shopfronts in Belfast meant to disguise the true state of the economy and about the few protesters demanding communism and socialism when that's part of the reason our financial and economic systems have collapsed.

Tuesday, June 18, 2013

Extraordinary Gold Demand In Vietnam – $217 Premium Over Spot

From Goldcore

The Vietnamese Central Bank sold another 25,700 taels (37.5 grams, 1.2 troy ounces) at a gold bar auction on Friday in order to try and satiate the massive public demand for gold in Vietnam.

The Central Bank hopes that the sale of gold into the market will reduce the very high premiums paid by gold buyers in Vietnam, the largest buyer of gold in Southeast Asia after Thailand and one of the largest physical buyers of gold per capita in the world.

Vietnamese people hold gold as a store of wealth for protection against war, inflation and currency depreciation. In recent months, the bursting of bubbles in the stock market (see chart) and property market and the continuing devaluation of the dong has led to record demand in Vietnam and a surging premium over the spot price of gold.

Today, the premium was close to 5.5 million dong which is the equivalent of a very high premium of $217 per ounce over spot.

The premium reached an all-time high of more than $210 per ounce or 6 million dong in April, when gold prices were hammered by what appeared to be manipulative selling on the COMEX futures market.

The Vietnamese Central Bank has held sales since the end of March to help banks return deposits by June 30. So far 709,800 taels, or about 27 tons, have been sold in 28 auctions through June 7, according to the bank.

It is hoped that the gap between domestic and global prices for immediate delivery will probably drop to 4 million dong a tael ($158 an ounce) by the end of July, according to Nguyen Thanh Truc, vice chairman of the Vietnam Gold Traders Association.

Eric Sprott - Physical Demand for Gold and Silver is Draining Supplies

From Greg Hunter

Monday, June 17, 2013

Copernicus, Galileo and Gold

11 June 2013

By Hugo Salinas Price

Essay link

We are deceived when we consent to think about the “price of gold”. At the very outset of our thoughts regarding gold, we are wrong, just as astronomers prior to Copernicus were wrong in thinking about the solar system as geo-centric, with the Sun, Moon and planets describing perfect circles around Earth. Gold is - to follow the astronomical simile - the center of the monetary universe, and the planets - the currencies - circle the Sun, which represents gold.

The correct starting point is the price of a currency expressed in terms of gold, and not the other way around.

When the price of the dollar was fixed at $20.67 per ounce of gold, up to the time of FDR, the price of the dollar was $1/20.67 = .0483782 oz. of gold, or 4.84 hundredths of an ounce of gold.

When FDR “raised the price of gold” he actually lowered the price of the dollar: $1/35 = .028574 oz. of gold, or 2.86 hundredths of an ounce.

Thus, FDR lowered the price of the dollar from 4.84 hundredths, to 2.86 hundredths of an ounce.

This was done in the Depression of the 30’s, when FDR was anxious to get the unemployed back to work. The purpose of devaluing the dollar by lowering its price in gold was to cheapen labor costs (without telling Labor what he was doing!) and put more people to work by getting them to accept working for lower wages, without their understanding what was going on. Cheaper labor meant cheaper American products and more exports.

At 2.86 hundredths of an ounce, the price of the dollar was below market value, and gold became overvalued in terms of dollars.

It is a principle of economics that undervalued money is exported from the country where it circulates, and overvalued money flows into the country where it is overvalued.

In 1934, with the dollar at 2.86 hundredths of an ounce of gold, gold was overvalued on the world market, and for that reason enormous quantities of gold began to flow into the US from all corners of the world. At the outbreak of WWII, the gold stock of the USA was gigantic as a result of inflows of foreign-owned gold.

At a “price of gold” of $1388/oz, more or less where we are today, the price of the dollar is $1/1388 = .00072 oz. of gold.

Gold is leaving the USA and the West, which is dollar-centric, because at .00072 (7.2 ten-thousandths) of an ounce the price of the dollar is overvalued, and gold is undervalued. There will come a moment when the managers who control the price of the dollar in gold will find that they have run out of gold to sell, and are powerless to support the price of the dollar. That moment is approaching; before the dollar controllers run out of gold to sell, the world will devalue the dollar and there will be nothing that the US will able to do about it.

This is already happening in the countries of the East - the Middle East, India, Pakistan, China and Southeast Asia, where gold trades at premiums to the undervalued “price of gold” which the Anglo-American Axis insists on maintaining.

The premiums effectively devalue the dollar just enough to ensure that the gold travels from West to East. Russia, the remaining Western power not subject to the Anglo-American Axis, is also sweeping up gold. The Axis is auctioning off its gold to the highest bidders, and the highest bidders are taking it off the market.

When the Anglo-American Axis can no longer rig the gold auction and support the price of the dollar by selling gold, because they have none left to sell, then the rest of the world will bid for gold, not only against the US dollar, but against all other currencies. The prices of currencies will fall like stones, tending to a new world equilibrium, where the flows of gold seek to eliminate both under-valuations and over-valuations wherever they present themselves.

If no one nation or block of nations can manage to establish its currency as the world reserve currency and thus supplant the dollar, then, since no one currency will be supreme, supremacy will devolve to the legitimate monarch once again: gold will be the international monetary language of business once again, as it has always been. Thus, the price of gold will become extinct, as Professor Antal E. Fekete has predicted. All prices will be gold prices, or silver prices at various ratios around the world.

The pertinacity of the Anglo-American Axis in auctioning off all its gold, down to the last available ounce, shows the world that the Axis is betting everything it represents, on the ability of the dollar to dethrone gold: this is the Church excommunicating Galileo and insisting on the central position of Earth in the Solar System. A very big mistake!

Gold cannot possibly lose its central position as the pre-eminent money used by the world for thousands of years. The aggressive measures of the Anglo-American Axis with regard to gold are absurd and they will lead to total disaster both for the Axis, and for the world which has been forced to follow its lead for over forty years.

In the worst case, as the rest of the world devalues the dollar by purchasing all the gold available in the West, the partisans of the dollar may find themselves corralled into a devastating total war as a last desperate measure to support their outlandish pretention to supplant gold with a man-made fiat currency, the dollar. Once again, nemesis will follow hubris,with mankind as the tragic figure. In my view, the wise (always a small minority in all ages) will squirrel away some ounces against the day of the ignominious collapse of the Anglo-American Axis’ attempt to reorder the world’s monetary system around a paper and digital currency.

Read part II here

Sunday, June 16, 2013

Politicking: Larry King talks NSA scandal fallout

Good to see Larry King has landed a gig on a real news channel. In this first episode of Politicking, Larry interviews some bootlickers of the fascist state on the NSA leaks and on Obama's legacy.

click on image to access video site

Turkish Protest Update - Police disperse crowds on Taksim square

From AlJazeeraEnglish


From RussiaToday

Keiser Report - Up the creek with no paddle

From RussiaToday

Published on Jun 15, 2013
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss price holograms in a simulated economy where we've rowed, rowed, rowed our boats merrily up the stream only to find ourselves up the creek with no paddle.

In the second half, Max talks to comedian, Lee Camp of, about the billionaire hoarders, the corporate pillagers and the Wall Street Occupiers.

Clarke and Dawe - Name Suppressed for Obvious Reasons

For those not in Australia our socialist national government has called an election for the 14th of September, at which most thinking Australians are going to vote them out, convincingly.

Rap News - Whistleblower

The World's greatest news show is back!  A must watch video, one of Robert Foster's best yet.

From thejuicemedia
Published on Jun 15, 2013

Rap News 19. It started off as a slow news day, and a routine update on the state of the Free World Order with NSA Director General Baxter. But then the news broke of startling revelations from the fearless paladin of adversarial journalism, guardian of civil liberties, journalist Glen Greenwald, concerning a shadowy spying program called PRISM. Who is behind these revelations, and how should we view them? How will the Authorities, and the Corporations implicated, respond? Join Robert Foster for a whirlwind summary of the events in this ongoing saga...

- Written & created by Giordano Nanni & Hugo Farrant in a suburban backyard home-studio in Melbourne, Australia - on Wurundjeri Land.

Greg Hunter's week in review

From Greg Hunter

Chinese Prepare for Public Flood into Gold

From McalvanyFinancial

Jessie Andrews Remix - Need U (100%)

I know this is a radical departure from the usual posting on this blog, but I just came across this house remix by the legendary LA vixen, designer and underground culture DJ - Jessie Andrews and thought it too good not to share. If you want to learn more about Jessie follow her on twitter at @jessieslife or checkout her media centre here (warning: not often work safe).

Saturday, June 15, 2013

Pepe Escobar: Obama starts Syria war to deviate from Snowden scandal

My favourite journalist Pepe Escobar nails it again with this insightful commentary on the plight of Edward Snowden and the remarkable timing of the supplying of weapons to Al-Ciada in Syria.

From RussiaToday

Gold, Silver and Bonds

From SGTbull07

We Are Overrun by Global Criminals

From TheAlexJonesChannel

Crypto Solutions to NSA and Examining Gold Manipulation

CrossTalk - Snowden contra Obama

From RussiaToday

Published on Jun 14, 2013
Should we be surprised by the latest revelations of surveillance by the NSA? Are these measures justified? And, are we simply expected to believe that our privacy will not be violated? CrossTalking with Eugene Puryear, Sharon Bradford Franklin and Karl Grossman.

Friday, June 14, 2013

Weekend Chillout - The Police State

Stunning revelations of the extent of NSA snooping this week, although every serious IT professional and Vladamir Putin knew it was going on for at least 10 years - but it was nice to see the facts out in the open, if only to say "I told you so" to those who trust their masters. Anyway what would this week's chillout be without a song honouring our shinny, if not so new, police state.

"Every Breath You Take"

Every call you take
Every text you make
Every code you break
Every step you take
We'll be watching you

Every single day
Every word you say
Every time you pay
Every night and day
We'll be watching you

Every move you make
Every law you break
Every like you fake
Every right at stake
We'll be watching you

US Spy Data Centre to open in Utah

From AlJazeeraEnglish

Published on Jun 13, 2013
As the world reacts to the news that the United States has been secretly mining unprecedented amounts of global phone and email traffic, the US National Security Agency is building a place to do it bigger and better. The secret facility will store masses of information collected through covert operations.
Al Jazeera's John Hendren has been to Salt Lake City to see it.

Obama to Step Up Support of Syrian Rebels

From AssociatedPress

Published on Jun 13, 2013
President Barack Obama has authorized sending weapons to Syrian rebels, after the White House disclosed that the United States has conclusive evidence President Bashar Assad's government used chemical weapons against opposition forces.

From AlJazeeraEnglish

Published on Jun 13, 2013
Mortar shells have been fired at Damascus airport in the latest clashes in Syria.The UN has told Al Jazeera that a third of Syria's population is now displaced either inside the country or across the border.Al Jazeera's Osama Bin Javaid reports on the latest fighting.

James Turk - Central Banks are Losing Control

James Turk discusses currencies, bond yields and gold. Listen to the KWN interview here