Tuesday, November 29, 2022

You stand a higher chance of being crushed by a vending machine.

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by Simon Black, Sovereign Man:

There’s something I’ve always found mesmerizing about watching animals in the wild.

They have the most incredible instincts, honed from countless generations of survival against constant threats.

Animals have a keen sense of danger. They know immediately when something doesn’t feel right, and they act on it without hesitation.

I saw an incredible example of this last year when I was visiting a remote wildlife reservation in Zimbabwe.

It was late in the afternoon on a hot summer day, and my friends and I were ensconced in a hidden observation bunker situated on the edge of a water hole.

The animals all began to arrive, one species at a time, to cool off before nightfall. First the elephants. Then Rhinos. Zebras. Giraffes. Baboons.

It was a playful mood; all the animals seemed to be enjoying the water, when without warning, there was a stillness. The gazelles froze. The zebras’ ears perked.

Something wasn’t right. A smell. A sound. Something.

So they got the hell out of there.

We found out later that a ravenous pack of hyenas was on the prowl nearby, so the animals’ instincts were spot-on.

Deep, deeeep down, human beings have the same highly refined instincts.

Our long-lost ancestors struggled against every imaginable danger. And those lessons are hard-coded in our DNA.

We sense threats. We can feel it when something’s wrong.

The difference between our species and animals in the wild, though, is that we humans have way too many external influences that muck it all up.

Case in point: last week was obviously a tough one for anyone with any sense of humanity.

Acts of terrorism are scary.

And hearing about completely innocent people on a popular pedestrian promenade getting mowed down like bowling pins by some madman is definitely going to cause some discomfort.

But down here in Latin America at least, there was ensuring wall-to-wall news coverage for the next several days in a way I hadn’t seen since 9/11.

It’s all we saw. Terrorism. Terrorism. Terrorism.

This really amps up the fear factor for something that is already difficult to stomach.

So it’s easy to understand why I keep hearing people say things like, “We’re living through the most dangerous times in human history.”

It’s easy to lose perspective. But on the balance we have it pretty good.

13th century Europeans faced a far greater threat with the approaching Mongol hoard.

A century later they faced an even more terrible fate with the onset of the Bubonic Plague, which ultimately wiped out around 30{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of Europe’s population.

Even in more recent times, the threat of nuclear annihilation between East and West posed a constant threat.

Yes, acts of terrorism are appalling. But taken in historical and mathematical context the danger is actually quite low.

The Cato Institute published some data recently showing that the chances of dying in a terror attack are around 1 in 3 million.

Statistically speaking, you have a better chance of being crushed to death by a vending machine.

But we don’t demand that our governments spend hundreds of billions of dollars that taxpayers cannot possibly afford in order to protect us from vending machines.

That’s because deep down we sense that vending machines don’t truly pose a threat.

But with terrorism our senses are heavily manipulated until we believe that the threat is far greater than what the statistics show.

The real irony is that the manipulation works both ways.

Just as we are manipulated into being terrified of certain risks that pose no real statistical threat, we are manipulated into ignoring other risks that are far more likely.

I would raise financial markets as an obvious example.

Read More @ SovereignMan.com

The IMF overlooked more than 3.000 ton gold from 2009 till 2015

by Nico Simons, Sprott Money:

In their annual report 2015 the IMF stated that the world official holdings in gold are 30.506 ton (980.800.000 ounces ) as per 2009. This is very remarkable, because in their annual report 2014 the world official holdings in gold were 27.346 ton ( 879.200.000 ounces). In the annual report 2015 there is no explanation for the difference of 3.160 ton ( 101.600.000 ounces ) with a retrospective effect to 2009.

So in 2015 the official gold holdings 2009 appear to be 3.160 ton higher than before (is 11.6 percent of the total world gold holdings in 2009). It is not only applicable for 2009, but also for 2010 up and till 2014 as follows:

These overlooked tons were added in their annual report 2015 in the specification of the international reserves (appendix 1) retrospective 2009 up to 2014.

IMF Annual Report 2015 the changed figures

IMF Annual Report 2014 the original figures

Read More @ SprottMoney.com

Should You Use Leverage With Precious Metals And Mining Stocks?

by Dave Kranzler, Investment Research Dynamics:

While I will maintain, until proven wrong by the test of time, that Bitcoin and Cryptocurrencies are nothing more than a temporary fad, investing with a long term outlook (20-30 years) gives the investor the best probability of generating life-style changing wealth.

William Powers, of MiningStockEducation.com, invited onto his podcast to discuss using leverage in precious metals and mining stock investing.  We discuss greed/fear, using margin with mining stocks, volatility, options, futures and the leveraged ETFs.

The problem for most investors, and the reason many have not made a lot of money – or might have lost money – in the precious metals sector is the inability to invest with a long term perspective.  Since 2001, gold has outperformed every asset class.  The mining stocks, in general as measured using the HUI index, have outperformed the Dow/Naz since 2001.

If your reason to be invested in a sector is still valid, there’s no reason to sell investments in that sector.  Have the reasons for investing precious metals as a hedge against a collapsing U.S. economic and political system, and thereby a collapse in the U.S. dollar, changed? Have the problems taking the U.S. down been fixed?  The answer is pretty obvious, which means you should be holding your precious metals investments, even if you bought them in early 2011.   In fact, if you bought then, you should be buying more now.  I know I have been adding to my holdings gradually since early 2016.

Read More @ InvestmentResearchDynamics.com

Opening Round NAFTA Fissures Over the Meaning of “Substantial”: What’s the Best and Worst That Can Happen?

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by Mish Shedlock, Mish Talk:

Trump is bound and determined to have his way in NAFTA negotiations whether or not anyone agrees with him. Ironically, not even the auto manufacturers do. The first round of negotiations, now underway, has hit a snag already. The meaning of “substantial” is in play.

The Wall Street Journal reports U.S., Canada and Mexico Wrap Up Nafta First Round.

Opening-round talks to remake the North American Free Trade Agreement revealed early fissures dividing the U.S. from Mexico and Canada, including a Trump administration proposal to require a “substantial” portion of autos and auto parts produced under the pact be made in the U.S.

The renegotiation of the trade deal, which was one of President Donald Trump’s main campaign promises and a key pillar of his “America First” agenda aiming to revive U.S. manufacturing and reduce the country’s trade deficit, is likely to face many hurdles. Auto makers in all three nations generally oppose the stricter rules floated by the U.S. negotiator, and pro-business lawmakers in Congress don’t want to see the pact significantly altered.

Early tensions over areas such as the so-called rules of origin—a major issue for the automotive industry—signaled the tough bargaining that lies ahead as the three nations try to wrap up a deal by early next year.

The chief U.S. negotiator, Robert Lighthizer, came into the talks Wednesday saying the U.S. would insist on tightening the rules of origin, and adding a provision covering U.S. production, an idea quickly dismissed as unworkable by Mexican and Canadian officials.

At this early stage of the talks, it is difficult to measure the depth of the disagreement. Opening rounds generally set the tone and schedule for negotiations. The U.S. has yet to release specifics on some of its most controversial positions, including measures to reduce the U.S. trade deficit, prevent currency manipulation, favor U.S. companies in government contracts, known colloquially as Buy America, and rework rules governing arbitration panels.

The U.S. feels that its most significant leverage in the talks is Mr. Trump’s threat to withdraw from Nafta if the U.S. doesn’t get the changes it wants. North American trade is far more significant to the Canadian and Mexican economies than it is for the U.S.

Mexican negotiators say they are prepared to scrap Nafta rather than accede to demands they consider harmful to their economy.

What’s the Best That Can Happen?

That’s a softball question. The best thing that can possibly happen is the trade talks collapse and Trump backs down on his promise to revoke the deal.

Nearly as good would be minor tweaks that don’t really do anything. One might even argue this is a better alternative as it would allow Trump to save face while bragging about nothing.

What’s the Worst That Can Happen?

The worst is the trade talks collapse, Trump abandons NAFTA and starts a global trade war.

Read More @ MishTalk.com

Angela Merkel is being Called a Traitor for the Refugee Crisis

by Martin Armstrong, Armstrong Economics:

The EU has abandoned Italy while simultaneously demanding that the refugees must be taken care of. Nearly 100,000 refugees have arrived in Italy since the start of this year alone. The Italian government cannot cope with the refugee crisis and Brussels said they cannot exempt them from the restraint of busgets. That means that money for Italians must be diverted to the refugees and they keep coming.

Italy is being pushed to the limit and cannot possible cope with this burden alone while Brussels refuses to compensate them. Let any country refuse to accept refugees and Brussels is quick to condemn them, but wont pay for them itself.

German Chancellor Angela Merkel is solely responsible for the refugee crisis. She is starting to be greeted with shouts of “traitor” by discontent German protesters. Nevertheless, Merkel continues to defend her decision to allow hundreds of thousands of refugees into the Germany.

Merkel only received 16,233,642 votes during the 2013 election which was  37.2{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of the popular vote of Germany. So the majority of Germans are really not supporting Merkel. Because they get to form collation governments, that someone who received less that any President in the political history of the USA gets to run Euorpe. Even Donald Trump won  46.1{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of the American popular vote. So someone who would never get into office under the USA system gets to dominate Europe.

Read More @ ArmstrongEconomics.com

LOL: Mnuchin’s Pre-Fort Knox Visit: ‘I Assume the Gold Is Still There’

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  • Only third Treasury secretary to visit U.S. Bullion Depository

  • $200 billion worth of gold, but it hasn’t counted since 1953

by Saleha Mohsin and Alister Bull, Bloomberg.com:

U.S. Treasury Secretary Steven Mnuchin will check out the nation’s gold stash when he pays a rare official visit to Fort Knox on Monday — while keeping an open mind for future film projects.

“I assume the gold is still there,” the former Hollywood producer joked to an audience in Louisville, Kentucky, 40 miles (64 km) north of the U.S. Bullion Depository. “It would really be quite a movie if we walked in and there was no gold.”

Fort Knox has been seared into the public imagination since the 1964 James Bond movie “Goldfinger,” in which the British spy, played by Sean Connery, foiled a plot to contaminate the nation’s bullion.

 

Mnuchin, whose action-film credits include ‘‘Mad Max: Fury Road,” “The Lego Batman Movie” and “Suicide Squad,” said that he will be only the third secretary of the Treasury who has gone inside the vault since it was created in 1936 by President Franklin Delano Roosevelt.

“We have approximately $200 billion of gold at Fort Knox,” said Mnuchin. “The last time anybody went in to see the gold, other than the Fort Knox people, was in 1974 when there was a congressional visit. And the last time it was counted was actually in 1953.”

 

 

Bitcoin in an Illusionary Age

from Antonius Aquinas:

It is altogether fitting that crypto currencies, in particular Bitcoin, have witnessed a meteoric rise in this illusionary age.  Not only has their monetary value gone to dizzying heights, but they are now being touted as the destroyer of the current, crumbling monetary order and the next paradigm upon which a new money and banking system will emerge.

In an era where sacrifice, hard work, loyalty, ingenuity, tradition, and independent thought are considered anathemas, while affirmative action, sloth, effeminacy, office seeking, and something-for-nothing schemes are endemic in every walk of life, it is not surprising that non-tangible, computer-generated currencies would become a “natural” feature of such a world.

 

While it has always been a haven for charlatans, traitors, cheats, thieves, liars, and serial adulterers, contemporary political life has become even more of a sham.  The most glaring example of politics’ utter corruption can be seen in the recent departed chief executive officer of the US.  Unless one abandons all critical thinking, Obummer was unqualified to be president because of the obvious fact that he was not born on American soil.  Not only did this disqualify him, but his educational and professional backgrounds have not been verified.  Neither his collegiate records nor his supposed teaching career at the University of Chicago Law School have ever been exposed to public scrutiny.  From the few utterances he has made about his supposed specialty – constitutional law – it appears that he has only a rudimentary knowledge of the subject.

Cultural life has descended to the basest of levels and has abandoned nearly all of Western Civilization’s glorious achievements.  Consider music.  The dominant form of what passes as music today is not the works of the great maestros of the past – Bach, Mozart, Beethoven – but instead, noise in the form of rock, hip hop, rap, grunge, or whatever the latest degenerate trend is in vogue.

Modern democracy is also a fallacy.  Being sold to the masses as a system where the people rule and personal liberties are guaranteed, democratic governance is anything but, and has instead been craftily used by the elites to amass state power to an unprecedented extent not witnessed in human history.  The much maligned monarchial age even during its “absolutist phase” could not come close to the scope and intrusiveness that democratic governments possess today.

Religion, too, is not immune from its share of hypocrisy.  Not only is the supposed head of the Catholic Church a manifest heretic who almost daily blasphemies the Divine Majesty, but he is not qualified to occupy the august chair in which he sits.  Jorge Bergoglio was neither ordained as a priest nor consecrated as a bishop in the traditional, Apostolic rite of Holy Orders.  He is, therefore, an imposter not a priest, nor the bishop of Rome, and scandalously not a true pope.

Now enter crypto currencies.  Not only will they never become money – a general medium of exchange – as gold and silver once were and will become once again, but cryptos lack the necessary requirements to be money.  Yet, their “development” is systematic of the times.  Cryptos are another variant of fiat currencies which digitally can be created by a stroke of a computer key or in cryptos’ case, a code.

Gold and silver – real money – must be mined from the ground, minted and “marketed” before they can be used to facilitate exchange.  This is an arduous, capital-intensive process which takes resources, labor, and time to accomplish.  Something as important as money should require an elaborate procedure not be created out of thin air as are all fiat currencies as well as cryptos.

Money must originate as a tangible, sought-after commodity – the great Misesian insight that crypto enthusiasts do not know or do not understand – then, over time, be recognized as having a “second feature” as a good sought after for “exchange value.”  Once a good is demanded for its use primarily to facilitate exchange, it then becomes a “money.”

Read the rest of the article @ AntoniusAquinas.com

 

TOTAL WORLD GOLD & SILVER PRODUCTION: Fact vs Conspiracy

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by Steve St. Angelo, SRSrocco:

Unfortunately for precious metals investors, there continues to be a great deal of misinformation about how much gold there is in the world.  The biggest culprit that confuses precious metals investors is what I call, LOUSY CONSPIRACIES.  Those who promote these unsound conspiracies aren’t able to differentiate between FACTS and FICTION.

This will be a short post, but it is important as it will lay some ground work for articles to come out over the next several weeks in comparing the new Bitcoin-Crypto currency market versus the Gold and silver.

While conspiracies do indeed take place, they are based upon sound reasoning and evidence that either proves a conspiracy has taken place, or proves the official story is bogus.  On the other hand, lousy conspiracies are easy to dismiss when facts and sound evidence are brought forward.  Unfortunately, even when the facts or the evidence is laid out step by step, those who either promote or believe these lousy conspiracies… continue to do so.

This has to be one of the most frustrating areas of my research, writing and analysis.  Why?  Because, I receive emails at least once a week bringing up one of my favorite LOUSY CONSPIRACIES once again.

One of the more insane conspiracies in the precious metals community is the notion that the world has 1-2 million tons of gold hidden in secret vaults.  Some of these vaults are the infamous Yamashita’s Gold Treasure, Nazi Gold Vault, Massive Bank of Hawaii Gold Holding and etc.

You see, conspiracies, especially LOUSY CONSPIRACIES, are a great way to make a buck selling a newsletter or book.  Because people don’t take the time to do the research and fact check, it is easier and more fun to believe in the hype of a conspiracy.  This is quite a shame because lousy conspiracies give the few sound conspiracies a bad reputation.

Even though I wrote about this back in April, CONSPIRACY vs FACT: How Much Gold Is In The World??, it seems necessary to discuss this again as an introduction to why gold and silver will still be better quality stores of wealth over crypto currencies over the medium to long term period.  This goes against some of the recent analysis put out in the Alternative Community suggesting that gold will no longer have value in the future due to crypto currencies taking over the role as a new digital monetary system.

Anyhow… the production of silver and gold are extracted out of the ground at a certain ratio.  Recently, it is approximately 9 to 1, silver to gold.  Let’s take a look at the following two charts:

As we can see in these two charts, most of world gold and silver production has been extracted since 1900.  For gold, the world produced 91{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of all gold since 1900, and 81{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of all global silver production.  According to the best sources (shown on the bottom of the chart), there have been approximately 173,000 metric tons (5.5 billion oz) of gold produced since 1493 and 48.5 billion oz of silver.  This turns out to be a 9 to 1 ratio, which is the same as the ratio of silver to gold in the ground.

NOTE:  I did not convert the gold chart to million oz because world production figures are normally reported in metric tons.  Furthermore, the accounting of total gold holdings are also published in metric tons.  Also, this conversion should help:  (1 metric ton = 32,150 oz).

Yes, it is true that the world produced a great deal more silver in relation to gold from 1493-1600.  This was due to the huge new silver discoveries in South America by the Spanish during that time period.  There was 747 million oz of silver produced from 1493-1600 versus 714 metric tons (23 million oz) of gold.  Thus, there were 32 times more silver production than gold during that time period.

Furthermore, the silver to gold production ratio increased even higher in the 17th century (1600-1700).  World silver production jumped to 1,272 million oz versus 897 metric tons (29 million oz) of gold.  This pushed the silver to gold production ratio to a staggering 44 to 1.  This was due the huge ramp up of Mexican silver production during that century.

Okay…. some of you might think… well, what if some of the world gold production was missed during those earlier centuries because the silver-gold ratio was so high.  Even if we apply a 9 to 1 silver to gold ratio for each century, this would be the result:

Read More @ SRSrocco.com

Media Remains Silent on Sen. McCain’s KKK Ancestry and How He Put Neo-Nazis in Power in Ukraine

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by Rachel Blevins, The Free Thought Project:

The mainstream media applauded John McCain for his criticism of President Trump, but it left out a few key elements of his history with Neo-Nazis.

When former Republican Presidential Nominee John McCain is mentioned in the media, he is typically painted in a good light—an elderly senator and war hero battling brain cancer who has devoted the rest of his life to fighting for government healthcare and the removal of a tyrannical dictator in Syria.

McCain added even more fuel to his fire on Tuesday when he joined the mainstream media in condemning President Trump for his response to violent clashes in Charlottesville, Virginia. There’s no moral equivalency between racists & Americans standing up to defy hate & bigotry,” McCain wrote on Twitter. “The President of the United States should say so.”

McCain’s words were quoted by a number of mainstream outlets, from CNBC to The Hill, which reportedthat the Arizona Senator was simply “pressing President Trump to make clear that there is not a ‘moral equivalency’ between white nationalists and the counterdemonstrators that turned out in Charlottesville.”

However, there are a few major issues with McCain’s statement. Many of the counterdemonstrators, or “Americans standing up to defy hate and bigotry,” as McCain called them, were affiliated with the group “Antifa.” Although the group’s name stands for “Anti-Fascist,” some of its members do the opposite, and the method of “seeking peace through violence” has been evident at a number of violent rallies and protests across the U.S. following Trump’s inauguration in January.

There is also another factor that should be taken into account as McCain attempts to take the moral high ground and the media cheers him on—his family history. According to a documentary called “Finding Your Roots” from Weta Interactive Media, not only does his family have connections to “hate and bigotry,” McCain’s great-great-grandfather served under the first Grand Wizard of the Ku Klux Klan.

“We then discovered that his Calvary unit had been tapped for a mission by none other than General Nathan Bedford Forrest, a brilliant, but brutal commander, often remembered for what he did after the war as the first Grand Wizard of the Ku Klux Klan,” Historian Henry Louis Gates, Jr. said.

Read More @ TheFreeThoughtProject.com