Sunday, April 14, 2013

Dr Paul Craig Roberts on the Gold price action and Protecting the Dollar

Dr. Paul Craig Roberts discusses action in the gold price on Friday and the how it ties into the Fed's actions it is taking to protect the value of the dollar in spite of monetary debasement. Listen to the KWN interview here

10% of US Silver Supply Slides into the World's Largest Hole

Interesting to observe just as US Silver Eagle sales hit record levels and 10% of US silver supply goes offline for the foreseeable future the COMEX market sells the silver price down by 6%. Because we all know that when you have record demand and a significant unexpected loss of supply of a commodity that the price of that commodity in the future markets will decline....WTF?


Link to press release

South Jordan, Utah (April 11, 2013) - Kennecott Utah Copper’s Bingham Canyon Mine experienced a slide along a geotechnical fault-line of its northeastern wall at 9:30 p.m. MDT April 10, 2013. Monitoring systems identified the event as a single slide that failed progressively.

All employees are safe and accounted for. Rio Tinto’s Kennecott Utah Copper wants to publicly thank them for their efforts and cooperation.

The magnitude of the impact from the slide is unknown at this point. Experts are assessing the site remotely. Once it has been established that it is safe to send people into the mine for closer assessment next response steps will be determined.


In 2011, Kennecott produced 237,000 tons of copper, 379,000 troy ounces of gold, 3.2 million troy ounces of silver (10% of US annual supply*), 30 million pounds of molybdenum and other products.

* % calculated from Kennecott mine data and USGS data for 2011.

Bonus Chillout - Don't Dream Its Over

I thought some inspirational music was called for to strengthen resolve of disheartened gold and silver investors after Friday's price smash.

Keiser Report - Bitcoin Bubble Buzz

From RussiaToday

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the Old Lady's gold habit, the gold that may be leaving Cyprus' central bank (or not) and Confucius' famous saying: "IMF STUPID SELL TO GOLD, I'M BUYING." They also look at the Federal Reserve data accidentally sent to Wall Street bank lobbyists and the venture capitalists entering the new Land Grab.

In the second half of the show, Max Keiser talks to James Turk about money, gold, bitcoin, currency wars and the nature of bank failures: to look good until the bank fails overnight. They also discuss Austrian school theories on money and how they relate to gold and to bitcoin.

Brother JohnF - Endgame Disconnect

From BrotherJohnF

Truth About Markets

Max Keiser and Stacy Herbert of with their weekly radio show for Resonance 104.4 FM. This week they discuss the Mt.Gox crash and bitcoin; the massive gold and silver sell-offs and Margaret Thatcher's death.