Tuesday, December 11, 2018

Jackass’ Red Glare Upon The Petrodollar

by Turd Ferguson, TF Metals Report:
For your holiday listening pleasure, Jim Willie returns for a comprehensive discussion of the petrodollar and how current events around the Arabian Peninsula are a sign of great distress for this monetary scheme.

Again, what is the “petrodollar”. The idea was championed by Henry Kissinger in 1973 as a way to create ongoing demand for US dollars by maintaining the pricing of crude oil in dollars only. The effects of this were two-fold:

To create constant demand for dollars…dollars which were now completely unhinged from any gold backing…and this demand would soak up any excess supply of new currency being printed in the US for military and social purposes.
To force oil-exporting nations to keep their foreign currency reserves in dollars, thus creating an ongoing demand for US treasury bonds. This constant demand for bonds would help to keep interest rates…and thus the US debt service cost…unnaturally low.

Click HERE to Listen

Silver Is Now Offered At a Discount

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by Keith Weiner, Silver Seek:
Have you ever been in a discussion about gold, when someone blurts out “we don’t have enough gold to operate a gold standard!” We have a standard retort. “Oh, that’s interesting. Please tell us how much gold you think would be necessary, and how you calculated it.”

We have never heard a coherent answer to this question. Most people just don’t like gold, and will say whatever words they think will dismiss the monetary question entirely, without actually having to address the issues.

The common answer from the gold community is not much better, “We could have a gold standard, if gold was at the right price.”

Reserve Currency Issuer Plus Global Pariah = Historic Monetary Reset

by Andy Hoffman, Miles Franklin:
The gold Cartel will eventually collapse – just like all Cartels before it, like the London Gold Pool in 1968, before gold surged from $35/oz to nearly $900/oz a decade later. However, in the meantime, we must continue to fight a monetary battle to the death – which mathematically, must be won by sound money; as, per the immortal theme of Gresham’s Law, good money always chases out bad. Not to mention, Economics 101; as, per last week’s “Precious Metals’ ultimate downside protection,” the mining industry has been so decimated by two decades of price suppression, supply is guaranteed to plunge indefinitely. This, as the terminal, malignant phase of history’s largest, most destructive fiat Ponzi scheme causes global Central bank printing presses to be turned up to “ludicrous speed” (Spaceballs reference).

Silver and the Great Future of Mexico

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by Hugo Salinas Price, Plata:
Your Excellency, Ambassador Edward Malayan; Doctor Vladimir Shamakhov, Director of the Northwest Institute of Management of Russian Presidential Academy, members of the Honorable Diplomatic Corps here present, and esteemed audience:

I am greatly privileged to be with all of your today, here in the Embassy of the Russian Federation in Mexico.

My special thanks for His Excellency, Ambassador Edward Malayan, who has become a very special friend. I thank him for his interest in my ideas regarding a silver coin, and especially for his support for my two visits to his great country, in the course of which I was able to talk with personalities of the Russian Academy of Sciences, the Central Bank of Russia, and the University of Moscow, as well as with various intellectuals and monetary analysts in Moscow and St. Petersburg. Your Excellency, many thanks for your friendship and assistance!

Owning Gold Is the First Step to “Freedom Insurance”

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by Nick Giambruno, Casey Research:
It’s predictable…

A government in need of cash will turn to destructive “solutions.”

Money printing, higher taxes, and more regulations often come first. Unfortunately, these are just the hors d’oeuvres before a 10-course meal.

As they become increasingly desperate, governments implement increasingly destructive policies. This might include capital controls, price controls, people controls, official currency devaluations, wealth confiscations, retirement account nationalizations, and more.

Gold Up 8{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} In First Half 2017; Builds On 8.5{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} Gain In 2016

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by Mark O’Byrne, Gold Core:
– Gold up 8{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in first half 2017; builds on 8.5{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} gain in 2016
– U.S. dollar down 6.5{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} – worst quarter in seven years
– Gold higher in all currencies except Draghi’s euro
– Gold outperforms bonds; similar gains as stock indices
– S&P 500 and Dax outperform gold marginally
– World stocks (MSCI World) up 10{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}; gold outperforms Eurostoxx (+6{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}) & FTSE (+2.3{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528})
– Silver up 3.7{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in first half ; builds on 15{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} gain in 2016
– Stocks, bonds, property buoyed by stimulus
– Resilience in gold as world struggles to hold confidence
– “If one hasn’t diversified this would be a good time to do that” – Shiller

RON PAUL: NOT A ‘TOTAL SHOCK’ IF STOCKS PLUMMET 25{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} AND GOLD SOARS 50{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} BY OCTOBER

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from InfoWars:
“If our markets are down 25 percent and gold is up 50 percent it wouldn’t be a total shock to me,” said Paul

A painful correction is coming and there’s little that can be done to prevent it, according to former Republican congressman and libertarian firebrand Ron Paul.

A painful correction is coming and there’s little that can be done to prevent it, according to former Republican congressman and libertarian firebrand Ron Paul.

Speaking to CNBC last week, the former GOP presidential contender argued the economy is not as strong as Wall Street consensus believes, and the situation could turn ugly as soon as October.

How Many Silver Bars are in the LBMA Vaults in London?

by Ronan Manly, BullionStar:
Sometime in the coming days, the London Bullion Market Association (LBMA) plans to begin publishing gold and silver vault holding totals covering the network of commercial precious vault operators in London that fall under its remit. This follows an announcement made by the LBMA on 8 May.

There are seven commercial vault operators (custodians) in the LBMA custodian vault network namely, HSBC, JP Morgan, Brinks, Malca Amit, ICBC Standard Bank, Loomis (formerly Viamat), and G4S. Note that ICBC Standard Bank has a vault which is operated by Brinks on behalf of ICBC Standard. It is also quite possible that some of the HSBC vaults, such as the famous GLD gold vault, are located within Brinks facilities.