Saturday, February 23, 2019

Gold or Silver? A 2017 Perspective – Jeff Nielson

by Jeff Nielson, Sprott Money

For both novices and experienced precious metals investors, the question “gold or silver?” still has relevance today. Experienced precious metals investors have already heard that according to almost every fundamentals metric, silver is more undervalued than gold, and thus a better value for the dollar.

But these same investors have been hearing this message for many years. They look at prices today and see the silver/gold price ratio at a ludicrous level of nearly 80:1 – a ratio that has increased, not decreased in recent years. Some readers, even ardent precious metals bulls, may now have become Skeptics concerning silver.

Back in the real world, however, for more than 4,000 years the silver/gold price ratio has averaged 15:1. This reflects the supply ratio of silver to gold in the Earth’s crust: 17:1. With silver even more precious today because of its numerous, important industrial applications, and with most of the world’s silver having been literally consumed, this price ratio should be below 15:1, not at the current, insane level.

The argument in favor of silver is fundamentals based, and thus value based. For investors with limited funds or who simply seek maximum appreciation potential, silver is the clear winner. The retort from the Skeptics is obvious: if silver is such a great value, then why are prices not already reflecting this?

Regular readers know that this question has been answered before, from different perspectives, on multiple occasions.

1) We no longer have markets. Instead, a banking crime syndicate ( the One Bank ) has hijacked our markets, and replaced them with a computerized price-rigging operation .

2) Supply/demand data going back well over a decade indicates that the silver market would havealready imploded in an inventory default – unless some Secret Stockpile existed to bleed more supply into depleted warehouses.

Skeptics will consider this to represent additional ammunition.

If all markets are rigged, all of the time, the price of silver will never be allowed to rise toward its fair market value.

If some (massive) Secret Stockpile exists, the bankers and their allies will never run out of additional supply to feed onto this market.

The rebuttal to those arguments is elementary.

a) Computers can’t manufacture silver. Industrial end-users of silver can’t use the paper-called-silverwhich the bankers trade in their fraudulent ‘markets’ to manufacture their products. When the world runs out of silver, prices must rise – to whatever multiples of the current price are necessary to bring the market into surplus and stabilize the supply chain.

b) The silver market has had a continuous supply deficit for at least 30 years. All stockpiles are finite. A previous commentary has estimated that it has already taken at least one billion ounces of stockpiled silver to prevent inventory default. The possibility of stockpiles that are greatly in excess of that amount is dubious, at best.

What is a fair price for silver, today? An older piece estimated that number to be $1,000/oz (USD). But even that number is artificial, since it presumes that our paper currencies still possess value. They don’t .

So, everyone should buy (and hold) silver. Case closed? It’s not that simple. Investors in the yellow metal can supply arguments which favor gold over silver.

i) More widely recognized as “money” (especially in the Western world)

ii) More compact (more valuable), and thus

iii) More portable

iv) Stronger demand at present

Part of the reason why the One Bank has been able to pervert the price of silver to such a ridiculous extreme in its crooked ‘markets’ is through the success of its Western propaganda campaign. Silver is the Peoples’ Money . Yet most of the people in the Western world no longer even recognize silver as money.

For holders of precious metals who anticipate some crisis where we would want or need to use our bullion as money (currency), in the early days of such a crisis gold would clearly have superior liquidity. It would likely take weeks (months?) before the need for silver as money and currency would begin to filter through the psyche of Western populations.

Some especially rabid silver bulls will argue that the price of silver will (or at least should) exceed the price of gold at some point – due to the radical depletion of silver stockpiles and supply. However, even most silver bulls (this writer included) expect the price ratio to always remain in gold’s favor.

This means that for readers who have limited storage (hiding?) space, gold’s superior intrinsic value means it could be the more practical choice. Similarly, for any reader who can imagine being forced to flee their domicile, or even their jurisdiction, gold’s superior value makes it more portable.

At present prices, precious metals investors would require a suitcase full of silver to equate to a pocket full of gold. And that suitcase better be on (strong) wheels, since very few readers would be able to carry such a suitcase.

Then there is demand, which currently favors gold. What about all of silver’s “industrial demand”? The Silver Institute (a somewhat dubious source) estimates industrial demand to represent 55{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of total, annual demand (1.03 billion ounces), or roughly 570 million ounces.

However, the gold market now has an important source of demand which is lacking in the silver market:gold-hungry central banks . These are (generally) Eastern central banks who understand the paper currency Ponzi-scheme which has been created by the One Bank.

So far, 2017 is trending towards an off-year for central bank purchases, with current buying representing an annual rate of demand of only about 300 tonnes. Even then, if we factor in the supply ratio (17:1 in the Earth’s crust), this equates to just over 5,000 tonnes of annual silver demand.

Read More @ SprottMoney.com

The Witch Hunt for Donald Trump Surpasses the Salem Witch Trials of 1692-93

by Paul Craig Roberts, Paul Craig Roberts

We should be scared to death that Sally Q. Yates served as a prosecutor in the Justice (sic) Department for 27 years. In the New York Times Sally takes high umbrage to Trump’s criticism of his attorney general, Sessions, and blows Trump’s disappointment with Sessions into an attack by Trump on the rule of law. https://www.nytimes.com/2017/07/28/opinion/sally-yates-protect-the-justice-department-from-president-trump.html

Sally has it backwards. The rule of law is being attacked by the appointment of a special prosecutor to find something on Trump in the absence of any evidence of a crime.

In 1940 US attorney general Robert Jackson warned federal prosecutors against “picking the man and then putting investigators to work, to pin some offense on him. It is in this realm—in which the prosecutor picks some person whom he dislikes or desires to embarrass, or selects some group of unpopular persons and then looks for an offense—that the greatest danger of abuse of prosecuting power lies. It is here that law enforcement becomes personal, and the real crime becomes that of being unpopular with the predominant or governing group, being attached to the wrong political views or being personally obnoxious to, or in the way of, the prosecutor himself.”

Robert Jackson has given a perfect description of what is happening to President Trump at the hands of special prosecutor Robert Mueller. Trump is vastly unpopular with the ruling establishment, with the Democrats, with the military/security complex and their bought and paid for Senators, and with the media for proving wrong all the smart people’s prediction that Hillary would win the election in a landslide.

From day one this cabal has been out to get Trump, and they have given the task of framing up Trump to Mueller. An honest man would not have accepted the job of chief witch-hunter, which is what Mueller’s job is.

The breathless hype of a nonexistent “Russian collusion” has been the lead news story for months despite the fact that no one, not the CIA, not the NSA, not the FBI, not the Director of National Intelligence, can find a scrap of evidence. In desperation, three of the seventeen US intelligence agencies picked a small handful of employees thought to lack integrity and produced an unverified report, absent of any evidence, that the hand-picked handful thought that there might have been a collusion. On the basis of what evidence they do not say.

That nothing more substantial than this led to a special prosecutor shows how totally corrupt justice in America is.

Furthermore the baseless charge itself is an absurdity. There is no law against an incoming administration conversing with other governments. Indeed, Trump, Flynn, and whomever should be given medals for quickly moving to smooth Russian feathers ruffled by the reckless Bush and Obama regimes. What good for anyone can come from ceaselessly provoking a nuclear Russian bear?

The new Russian sanctions bill passed by Congress is an act of reckless idiocy. It was done without consulting Europe which will bear the cost of the bill and might reject it, thus sending shock waves through the fragile American empire.

Congress’ thoughtless bill is a violation of the separation of powers. Foreign policy is the executive branch’s arena. The feckless Obama put the sanctions on. Obviously, if a president can put sanctions on, a president can take sanctions off.

Trump should take his case to the American people, not via Twitter, but with a major speech. Fox News and Alex Jones, either of which has a larger audience than CNN and the New York Times, would broadcast Trump’s speech. Trump should make the case that Congress is over-reaching its constitutional authority and also preventing a reduction in dangerous tensions between nuclear powers. Trump should ask the American people forthright if they want to be driven into war with Russia by gratuitous provocation after provocation.

Because of the powers that Bush and Obama thoughtlessly gave the presidency, Trump can declare a national emergency, cancel Congress, and arrest whomever he wishes. Of course, the presstitute media would do everything possible to sway the people and the US military against the state of emergency, but if there were a real “Russian collusion,” Trump would have Putin initiate a major crisis that would bring the people and the military to Trump’s side. That no such thing will happen is total proof that there is no “Russian collusion.”

Even the Washington Post, an initiator and leader of the breathless “Russian collusion” lie has now published an article, “The quest to Prove Collusion is Crumbling,” that concludes that the entire orchestration is a hoax. https://www.washingtonpost.com/blogs/post-partisan/wp/2017/07/27/the-quest-to-prove-collusion-is-crumbling/?utm_term=.eba7acda8a67

As the Washington Post article says, “the story that never was is not happening.”

So the great “superpower America,” the “exceptional, indispensable country,” has wasted 7 months of a new presidency in a hoax when it could have been repairing the relations with Russia and China that were seriously damaged by the criminal Bush and Obama regimes. What are the utter fools that comprise the American Establishment thinking? Why do the morons want high tensions with the two powers that can remove the United States and its impotent European and British vassals from the face of the earth in a few minutes? Who gains from this? What is wrong with the American people that they cannot understand that they are being driven to their destruction? Insouciant America is clearly not a sufficiently strong term.

Read More @ PaulCraigRoberts.org

SENATOR LINDSAY GRAHAM: “USA IS PREPARED TO STRIKE NORTH KOREA”/GOLD UP $4.95 BUT SILVER FLAT

by Harvey Organ, Harvey Organ Blog

GOLD AND SILVER EQUITY SHARES FALL AGAIN/CHAOS RUNS SUPREME IN VENEZUELA/USA SANCTIONS ONLY MADURO SO FAR/GENERAL MOTORS REPORTS HUGE DROP IN AUTOS/ALSO USA REPORTS BIG DROP IN CONSTRUCTION SPENDING

In silver, the total open interest surprisingly  ROSE BY 862 contracts from 206,781 up to 207,643 WITH THE GOOD RISE IN PRICE THAT SILVER TOOK WITH RESPECT TO YESTERDAY’S TRADING (UP 9 CENT(S). IT SURE LOOKS LIKE BOTH THE SPECULATOR SHORTS AND THE BANKER SHORTS ARE HAVING SEVERE PROBLEMS TRYING TO COVER THEIR SHORTFALL BUT IT IS TO NO AVAIL. THE LONGS REMAIN STOIC AND NOTHING WILL BUDGE OUR SILVER LEAVES FROM DEPARTING OUR SILVER TREE. TODAY’S TRADING IS EVIDENCE OF THAT

 In ounces, the OI is still represented by just OVER 1 BILLION oz i.e.  1.038 BILLION TO BE EXACT or 148{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 71 NOTICE(S) FOR 355,000OZ OF SILVER

In gold, the open interest fell by 2,686 with the fall in price of gold to the tune of $1.60 yesterday.  The new OI for the gold complex rests at 436,962. Yesterday we had some banker short covering but it was minimal and this was accompanied by some longs entering the arena sensing danger due to the firing of that ICBM missile by North Korea. The shorts tried their best on the last day of options expiry to nullify any gains from option traders. The result a small open interest fall with that fall in price.

we had, ON second DAY NOTICE: 1309 notice(s) filed upon for 130,900 oz of gold.

Read More @ HarveyOrganBlog.com

How a Top Navy Seal is Dealing With Perverts and Why No Pedophile is Safe

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from Sheila  Zllinsky

Former Navy Seal Craig Sawyer, Seal Team 6 Spec Ops joins Sheila Zilinsky on a riveting analysis.

Delingpole: ‘It’s Never Been Harder to Be a Climate Scientist’. Good.

by James Delingpole, Breitbart

“It’s never been harder to be a climate scientist,” claims a heartrending piece in New Republic.

Climate scientists working directly for the Trump administration are the most affected. A report published last week by the Union of Concerned Scientists describes a “culture of fear” as government scientists are gagged, sidelined, or fired, and funding cuts loom. “Some are afraid to utter the words ‘climate change,’” the report reads.

But wait. You haven’t got to the saddest part, yet.

“All action at the agency on climate has effectively stopped,” an EPA air quality scientist told The Guardian in June. And they’re being discouraged from interacting with other climate scientists. “There was a climate conference in Atlanta last month and EPA employees were told not to go,” the scientist said, “so even simple interactions are coming to an end.”

In sadness terms I would say that this is quite literally even sadder than a picture on the internet of a cute kitten with a bandaged paw.

Think about it. These EPA scientists work hard to spend your tax dollar. That trip to the climate conference in Atlanta would have afforded them a vital opportunity not just to rack up air miles but also to broaden their understanding of the challenges facing us. For example, by visiting the legendary Georgia Aquarium they would get to experience at first hand all the innocent sea creatures that are likely to be melted if ever ocean acidification actually becomes a thing.

And by taking part in the Walking Dead Big Zombie Tour Part One – and Part Two, if time had been available – they could have acquainted themselves with the kind of post-Apocalyptic societal breakdown/flesh-eating-hordes-of-ravenous-undead issues which might well occur if global warming ever became a serious problem, which admittedly it hasn’t so far.

But now because of spoilsport Donald Trump and killjoy Scott Pruitt, they’re being forced to do boring stuff like actual science instead.

There are several reasons, though, why I don’t feel quite as sorry for these scientists as they feel for themselves.

One is that they seem to be a lot more interested in politics than they are in science. This is a point economist Ross McKitrick made recently, with regard to an attack made by the American Meteorological Society (AMS) on Energy Secretary Rick Perry.

Perry had made in a perfectly reasonable, scientifically accurate point about the causes of “global warming” in an interview. Yet the executive director of the AMS, brandishing ‘settled science’, had written to censure him.

Oh, the double standards! As McKitrick wrote in The Hill:

It is noteworthy that the meteorological society remained completely silent over the years when senior Democratic administration officials made multiple exaggerated and untrue statements in service of global warming alarmism.

When Secretary of State John Kerry falsely claimed in 2016 that “storms that used to happen once every 500 years are becoming relatively normal,” or when Environmental Protection Agency Administrator Gina McCarthy claimed in 2015 that green house gases are behind upward trends in “extreme heat, cold, storms, fires and floods,” the meteorological society said nothing, even though the evidence clearly contradicts these positions.

When President Obama tweeted in 2013 that “97 percent of scientists agree that climate change is real, man-made and dangerous” the meteorological society said nothing, even though no such survey existed and the meteorological society’s own membership surveythe next year showed nearly half of its members doubted either that climate change was even happening or that CO2 played a dominant role.

Another point well made by Eric Worrall at Watts Up With That? is that if you are an employee of the government your job is to do what the government tells you to do, no matter how much might you disagree with the government’s policy.

I have no problem with public statements from climate scientists who raise their own money – they can say whatever they want. But the job of an employee of the government is to do what the government tells them to do. For a government employed scientist, surely this means researching what the government asks them to research, and submitting reports to the government agencies which commissioned the research – not grandstanding in front of the media on a regular basis.

Then, of course, there’s the small issue of relevance. A must-read piece by David R. Henderson and John H. Cochrane in the WSJ hints at an important truth about the climate change industry that really isn’t said often enough: far too much attention is paid to the scientific aspects of this non-issue and far, far too little to the economic ones.

Read More @ Breitbart.com

It’s better to turn cautious too soon…

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by Simon Black, Sovereign Man

One of the greatest investors in the world is getting worried…

Howard Marks is the billionaire founder of Oaktree Capital, one of the largest and most successful investment firms in the world.

A few times each year Marks write up his thoughts about financial markets– he calls them ‘investment memos’.

And he just released his latest one with a very clear message: it’s time to be cautious.

From Marks’ memo…

I think it’s better to turn cautious too soon (and thus perhaps underperform for a while) rather than too late, after the downslide has begun, making it hard to trim risk, achieve exits and cut losses.

Marks admits this bull market could continue. But he’s happy taking chips off the table in today’s particularly dangerous market.

Asset prices are high across the board – the S&P 500 is trading at 25 times trailing 12-month earnings compared to a long-term median of 15 – and prospective returns are low.

Meanwhile, we’re also seeing record-low complacency amongst investors.

Just this morning the Wall Street Journal published data from Yardeni Research showing that percentage of ‘bearish’ investors who believe that the market will fall is near its lowest level since 1987.

The Volatility Index (VIX), a statistic which measures ‘fear’ in the market place, is at its ALL-TIME lowest point in its entire 27-year existence – hitting 8.84 last week, compared to above 80 in 2008.

The VIX hit 8.89 on December 27, 1993. From Marks:

The index was last this low when Bill Clinton took office in 1993, at a time when there was peace in the world, faster economic growth and a much smaller deficit. Should people really be as complacent now as they were then?

Compare that today, where market pitfalls abound…

– North Korea is threatening to nuke the US
– Donald Trump is firing his entire cabinet
– The Federal Reserve has dropped interest rates to record lows and drowned the world in trillions of dollars of cash
– Debt levels are at record highs
– Entire banking systems, especially in Europe, are in need of massive bailouts
– The US government will run out of money in less than 90-days and hit the debt ceiling once again

Marks points out an important thing to remember about the VIX… It doesn’t say what volatility will be, only what investors think volatility will be. And the crowd is almost always wrong.

We’re eight years into the current bull market. Stocks have been rising for eight straight years– the second-longest winning streak in history behind the S&P 500’s 417{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} gain between December 1990 and March 2000.

And investors seem to see nothing but clear skies ahead.

And their false sense of security is pushing them to take on greater amounts of risk.

For example, junk bonds today yield just 6{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}.

In other words, pitiful, low quality companies that few analysts expect them to even remain in business are able to borrow money at just 6{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}.

That’s insane.

Read More @ SovereignMan.com

The West lost at least another 1000 tonnes of large gold bars in 2015

by Ronan Manly, BullionStar

Over the last number of years, one of the most interesting trends in the physical gold world is the ongoing conversion of large 400 ounce gold bars into smaller high purity 1 kilogram gold bars to meet the insatiable demand of Asian gold markets such as China and India.

This transformation of 400 ounce bars into 1 kilogram bars is an established fact and is irrefutable given the large amount of evidence which proves it is happening, as has been documented on the BullionStar website and elsewhere.

It is also something which causes plenty of excitement in the gold world as it underscores the huge movement of physical gold from West to East, and the continual depletion of gold inventories from locations such as the London Gold Market.

The general movement is one of 995 purity 400 ounce gold bars coming out of gold-backed ETFs, central bank gold holdings and other wholesale gold holdings, and these bars making their way to the Swiss refineries where they are transformed / smelted / recast into smaller 9999 high purity gold bars. The smaller gold bars are then exported from Switzerland to India, China, Hong Kong, and the Middle East.

At the same time as the wider gold market acknowledges and publicises this trend, the establishment gold world and bullion banks (as represented by the London Bullion Market Association) tend to downplay this conversion of 400 ounce gold bars into 1 kilogram bars, presumably because it directly highlights the continual drain of real physical gold out of the London vaults into China and India, gold which has little chance of ever coming back again.

For an example of significant downplaying of conversion of 400 ounce gold bars into kilogram gold bars, see BullionStar post from September 2015 titled “Moving the goalposts….The LBMA’s shifting stance on gold refinery production statistics” which documents how a mammoth 2000 tonnes of LBMA gold refinery output attributed to the year 2013, mysteriously disappeared from the LBMA’s publications in early August 2015, after the original figure of 6,601 tonnes had been highlighted on this website, with the original figure being replaced by a far lower 4600 tonnes.

While gold refineries in countries other than Switzerland may be involved in these 400 ounce to 1 kilogram gold bar transformations, the Swiss refineries are the big players in this area, as they say so themselves. The names in question are Valcambi, PAMP, Argor Heraeus and Metalor. For a full understanding of the extent to which these large Swiss gold refineries process 400 ounce gold bars into kilobars and the importance that they attribute to this specific category of refinery activity, please see BullionStar blog from November 2015 titled “From Good Delivery bars to Kilobars – The Swiss Refineries, the GFMS data, and the LBMA“.

But if you thought the massive conversion of large gold bars into kilogram bars that occurred in years such as 2013 and 2014 was an anomaly or a one-off, then think again. Because it also happened in 2015, and in a very big way.

Read More @ BullionStar.com

GOLD AND SILVER HOLD DESPITE THIS BEING THE LAST DAY FOR OPTIONS EXPIRY ON LONDON OTC CONTRACTS

by Harvey Organ, Harvey Organ Blogspot

WAR OF WORDS BETWEEN USA, NORTH KOREA AND CHINA RE THE NORTH KOREA’S LAUNCHING OF THAT ICBM/SOUTH KOREAN OFFICIALS STATE THAT THEY MAVE BEEN LOOKING AT A SURGICAL STRIKE AGAINST NORTH KOREA/PUTIN RETALIATES BY REMOVING 755 USA DELEGATES IN MOSCOW/USA IN ITS FIRST STRIKE AGAINST MADURO SANCTIONS ANY PERSONAL DEALINGS WITH MADURO HIMSELF/TRUMP THREATENS TO END SUBSIDY PAYMENTS ON OBAMACARE INCLUDING CONGRESS MEMBERS/TREASURY EXPECTS TO ISSUE 1/2 TRILLION IN DEBT IN 4TH QUARTER: THEY CLAIM THAT BY SEPT 30 THEY WILL HAND ONLY 60 BILLION USA INC CASH LEFT

In silver, the total open interest surprisingly  ROSE BY ONLY 277 contracts from 206,554 UP TO 206,781 DESPITE THE GOOD RISE IN PRICE THAT SILVER TOOK WITH RESPECT TO FRIDAY’S TRADING (UP 11 CENT(S). JUDGING FROM THE COT REPORT BOTH THE SPECULATOR SHORTS AND THE BANKER SHORTS ARE HAVING SEVERE PROBLEMS TRYING TO COVER THEIR SHORTS BUT TO NO AVAIL. THE LONGS REMAIN STOIC AND NOTHING WILL BUDGE OUR SILVER LEAVES FROM DEPARTING OUR SILVER TREE.

 In ounces, the OI is still represented by just OVER 1 BILLION oz i.e.  1.035 BILLION TO BE EXACT or 148{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 233 NOTICE(S) FOR 1,165,000OZ OF SILVER

In gold, the open interest rose by 7,287 as new speculators entered the gold arena after the long specs in July DEPARTED with their EFP’s which entitled them to a fiat bonus plus a futures contract and these are most likely London based forwards. The new OI for the gold complex rests at 439,648.

we had, ON FIRST DAY NOTICE: 1637 notice(s) filed upon for 163,700 oz of gold.

Read More @ HarveyOrganBlog.com

The Race Against Time

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by Jeff Thomas, International Man

For decades, in discussing the ever-increasing hegemony of the world’s principal governments (US, EU, et al.), I’ve been asked repeatedly, “When will the governments understand that this obsession they have to become all-powerful is not in the interests of the people?”

The answer to this question has also remained the same for decades: never.

Although most all thinking people will readily admit that they regard their government (and governments in general) to be both overreaching and corrupt, they somehow attribute political leaders with a desire to serve the people. This is almost never true.

In my own experience in working with (and against) political leaders in multiple jurisdictions, I’ve found them to be remarkably similar to each other in their tendency to be shortsighted, self-aggrandising, and almost totally indifferent to the well-being of their constituents. Indeed, it’s a real rarity to encounter a political leader who does not fit this description.

Therefore, we should take as a given that all political leaders will continue to pursue their own power and wealth, at the expense of their citizenries.

This, then, begs the question: “If they won’t stop themselves in this progression, is there no other outcome than eventual total slavery to the government?”

Well, here, history informs us that this is not the case. All governments will tax the people as much as they can, regulate them as much as they can, socially dominate them as much as they can, and remove as many rights as they can. However, they rarely totally succeed and, even when they do, the clock is ticking against them.

In 1999, I began to warn that the US military would steadily increase its warfare against other nations and would only cease their military expansion if and when economic collapse made it impossible to continue the expansion.

In 2008, I began to warn that the US, EU, and other jurisdictions would eventually attempt to eliminate the use of paper currency, or “cash,” and force all people to rely almost totally on electronic transfers of money. (I had pictured plastic credit cards being used—I hadn’t imagined at that time that smartphones would make such transactions even easier.)

In addition to the above abuses, I projected that these jurisdictions would become more collectivist, would increase legislation to dominate their citizens socially, and would eventually come to resemble police states.

But, at the same time, I projected that, although I believed that all these developments would increase steadily, both in magnitude and frequency, they would reach a peak point, then begin to unravel—and would do so more quickly than they had been implemented.

This would happen for two reasons, and neither of these reasons come from some crystal ball. They come from history.

As has always occurred, for millennia, such rapidly expanding excesses cannot be created by governments without creating debt. The more rapid the level of change, the greater the debt necessary.

Today, we’re witnessing the greatest level of debt the world has ever seen. As always in history, this is a ticking time bomb.

Read More @ InternationalMan.com

Is the Bitcoin Civil War Over? Here’s How I’m Thinking About Bitcoin Cash

by Michael Krieger, Liberty Blitzkrieg

Before I get going, let me start out with the usual disclaimer. I’m not a Bitcoin expert, nor do I claim to be. I love people who live and breathe Bitcoin every day, and I have the utmost respect for all of you, but that’s not me. As you can tell from a quick glance at my website, my current focus revolves around the current political environment as well as the geopolitical implications of a declining U.S. empire. That said, I’ve been involved in Bitcoin since 2012, and I care deeply about it. In my opinion, globally interconnected humans functioning within decentralized systems of economics and political governance provide the best framework for the human species going forward. We have the tools, we just need the desire.

Today’s post is about an alt-coin that is about to fork from Bitcoin, led by a contingency in the civil war known as the big blockers. This piece is not meant for newbies, but is written for people who own Bitcoin and already have a good understanding of all the drama that’s been going on, and may continue to periodically resurface after August 1. If you aren’t already up to speed on these things you should probably stop reading. The post will just sound confusing and won’t have much impact on your decision making anyway.

 

First of all, I don’t think there will be any debate around what the “real Bitcoin” is following the fork and creation of an alt-coin called Bitcoin Cash (BCC). This coin will be a pet project of big blockers wanting to both save face, and also potentially hurt the original Bitcoin (BTC). Only time will tell if some of those considered “bad actors” will try to target the original Bitcoin out of pettiness, but you should never underestimate what people with a lot of money/power and huge egos will do. History is replete with the ruins of the crazed actions of these types.

If you control your private keys, you should be able to access BCC sometime after August 1st. Some people are describing this as a dividend, although it seems more like an asset spinoff to me. Either way, BCC will have some sort of value on or around August 1st, and a market will start being made. So how should people concerned about potential bad actors on the side of BCC think about all of this? Let’s start with a few tweets from Whale Panda that I think are important to ponder.

With that in mind, take a watch of this recent interview of Roger Ver. Roger is considered to be one of the largest holders of Bitcoin, and owns bitcoin.com

That video definitely made me feel that Roger could act in a hostile way following the launch of BCC. I really hope he swallows his pride and doesn’t go down that route, but we can’t make that assumption. I think we absolutely need to prepare for the possibility that some bad actors will try to harm Bitcoin using BCC. Here are a few more tweets from Whale Panda.

The Fed’s Vicious, Self-Created Catch 22-All Roads Lead To “Scarcity Assets”

by Andy Hoffman,  Miles Franklin

It’s Friday morning, just before the B(F)LS, or Bureau of (Fraudulent) Labor Statistics publishes the second quarter GDP report. Incredibly, despite hard economic data consistently worse than the previous two quarters – which, at 1.7{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} (doubly seasonally adjusted and all), sported the lowest two quarter rate since the 2008-09 Financial crisis – “expectations” are for a 2.6{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} increase.  I mean, how do all those zero and negative retail sales, industrial production, construction activity, factory orders, and durable goods orders translate into “2.6{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}” growth?

Heck, even in Europe, whose economic stagnation has become legendary, GDP growth rates have been stuck below 1{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} for years on end, despite the publication of higher “soft” data PMI readings than the U.S.  In other words, just as the U.S. government leads the world in surreptitious financial market trading, derivatives creation, and paper Precious Metal suppression, they do so in economic data as well.  And yes, I know the Chinese continue to report 6.5{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}-7.0{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} GDP “growth” despite an obviously collapsing economy.  But heck, at least their numbers are so far from reality, they aren’t actually taken seriously.

Irrespective, in an America on the verge of political (see: death of Obamacare repeal), economic (see: upcoming debt ceiling debate), and geopolitical (see – new Russian sanctions) chaos, the BLS may well attempt to prolong the illusion of the soon-to-be-second-longest “expansion” of the 147 in America’s 241-year history.  Which, if one were ignoring the rigged stock markets, could easily be mistaken for the second coming of the Great Depression.  This, one week after Janet Yellen’s wildly dovish, “ding dong, the Fed – and with it, the Precious Metals ‘bear market’ – is dead” speech in front of Congress, and two days after the Fed’s follow-up, uber-dovish policy statement.  In which, they not only downgraded their expectations of “inflation,” but altered the timing of their mythical, never-to-happen balance sheet “exit strategy” from “sometime this year” to LOL, “relatively soon.”

In other words, to commence today’s “Catch-22” discussion, if GDP growth is “better than expected,” the Fed will look like fools – particularly because there’s no doubt they are privy to the GDP numbers before their release.  Heck the Fed’s own “GDP Now” forecast is for 2.6{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} growth.  Conversely, if “worse than expected,” the dollar will plunge further, causing the “inflation” they so badly want to explode.  Which, if truth be told, already occurred in the week since Whirlybird Janet’s speech, given how the dollar has since plunged to a 13-month low.  Which in turn, would force the Fed to re-start hints of rate hikes, just one week after rate hike odds for September plunged to ZERO – and just 42{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} for December.  Talk about destroying what’s left of one’s credibility!  This, from the institution responsible for printing the world’s “reserve currency.”

And by the way, for anyone that still doesn’t’ get just how thin the line has gotten between the economic reality of said Depression, and the fraudulently fostered illusion of prosperity from rigged financial markets, I’m going to continue driving into your head that at some point soon, the world will be “on” to the most blatant rigging scheme in history – paperPrecious Metals.  To wit, here’s what I showed you last week, of the previous six days of silver trading…

…here’s what I showed you Wednesday, of Monday and Tuesday’s “trading”…

And here’s what occurred yesterday; when every imaginable manipulative tool was utilized – from DLITG, or “don’t let it turn green”; to “Cartel Rule #1 – i.e., “thou shalt not allow PMs to surge whilst stocks plunge”; to the 10:00 AM EST “key attack time #1.”   TRUST me, it won’t end well for the Cartel – now that physical supply is set to plunge for years to come, care of the mining industry destruction caused by two decades of price suppression.  Which is exactly why – amongst other things – I boldly stated yesterday, this is the “most PM-bullish I’ve ever been.”