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from Financial Survival Network
  We interviewed one of our favorites today on our live show, which is broadcast every Friday at 11am (eastern) on 1590 WPSL www.wpsl.com. As usual Turd was chock full of useful insights. The movement of gold from East to West is escalating. The Shanghai Gold Exchange so far hasn’t shipped any metal in May. Large quantities of gold are becoming less and less obtainable. Premiums on these types of purchases have gone way up. So that precious metals insurance policy you’ve been paying premiums on all these years is soon going to pay off big. Ignore the paper markets, they’re becoming less relevant by the day.
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from Financial Survival Network
 We caught up with Diana Zoppa again after a brief hiatus. The scandalous administration is getting more scandalous by the moment. More and bigger scandals are no doubt on the way. Next, we talked about new and different ways to save you money. There’s an infinite number of ways for you to save; you just need to use your imagination and the internet. Where there’s a potential purchase, there’s a definite discount to be had.
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from Financial Survival Network
 Ned Schmidt is a regular guest on FSN. US Jewelry demand has increased for the first time in 7 years. A share of Google is going for over $900, whereas an ounce of gold is trading under $1400 the ounce. Which one should you buy? Well to coin a phrase from the title of my book, Go for the Gold! (and Silver too). Ned’s analysis has been spot on. He loves buying valuable assets at a substantial discount, like gold and silver right now. He’s sees major inflation up ahead and gives the current example of record high beef prices. And this is only the beginning.
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by Robert Powell
The California Institute of Finance
 If you think it’s hard saving for retirement as a couple, trying doing it as a single. According to a study—described by one expert as the most intriguing of 2012—the amount of money singles in their late 60s have saved up for retirement is dramatically less than that of married-couple households.
In fact, the median married household had in 2008 nearly 10 times more saved up for retirement than the median single-person household, $111,600 vs. $12,500. (Savings, for the record, included 401(k)s and IRAs and all taxable savings and investment accounts, but it did not include Social Security, pensions, or housing wealth. And single, at least for the purpose of this research could mean divorced, widowed or unmarried for most/all of their life.)
The difference was also extreme at the extremes, according to a blog post by Steve Utkus, who oversees the Vanguard Center for Retirement Research.
Continue Reading at Blogs.CalLutheran.edu…
by Martin Armstrong
Armstrong Economics
 Three regional Federal Reserve officials have called on the central bank to stop buying mortgage-backed bonds, citing the recent improvement in the U.S. housing market. Indeed, the US economy has improved and the rise in the stock market has the talking head talking to themselves in disbelief. The 800 pound monkey remains the German elections and this is not going well. Whatever the politicians in Europe can do to screw up the world they are going perfectly. We are at the edge in the middle of nowhere. Old Marxist ideas dominate the political circles and they cannot see that just as Communism collapsed, it is their turn now. The younger generation are out of work and not buying this nonsense of taxing the rich that does nothing but line the pockets of politicians. This is going to take a lot more pain before we see political reform.
The dollar MUST rise sharply OVERALL between now and 2015.75. This is what we need to reverse the economic fortunes of the US so the entire global economy then turns down 2015.75-2020.
Continue Reading at ArmstrongEconomics.com…
by Ed Steer
Ed Steer’s Gold & Silver Daily
 Yesterday In Gold & Silver
The gold price traded around the $1,380 spot price mark through all of Far East and most of the London session on Friday. But minutes after the equity markets opened in New York, the gold price got sold down twenty bucks in short order…and the subsequent rally didn’t get far. Once the Comex closed, the gold price got sold down to its low of the day in thin access market trading.
The low price tick came at precisely 4:00 p.m. EDT in New York…and Kitco recorded that as $1,354.60 spot. After that, it recovered a few dollars doing into the close of electronic trading.
Gold closed at $1,360.20 spot…down $25.70 on the day. Net volume was very high…around 193,000 contracts.
Continue Reading at CaseyResearch.com…
by Jeff Berwick
Dollar Vigilante
 Hello from Santiago, Chile,
You usually read my weekend rants with their incredibly positive tone. And you must get sick of it.
So if you want to hear about me in an unhappy mood, this is the one to read! It’s nothing too terrible, but here is the story…
I was so, so happily going about my routine in Acapulco earlier this week. You know the story, awaken to my glorious view surrounded by my beautiful family and dogs. I was in the gym every day and was feeling incredibly productive. You may have noticed I wrote almost every blog this week. I actually wrote them all in a day or two. I was just so centered and full of Vitamin D and energy from the gym and my three times daily “jugo verde” as my cook there knows it… which is all manner of vegetables blended into a nice drink that had me almost feeling euphoric by Monday of this week.
Continue Reading at DollarVigilante.com…
by Anthony Wile
The Daily Bell
 And I will cause them to eat the flesh of their sons and the flesh of their daughters, and they shall eat every one the flesh of his friend in the siege and straitness … – King James Bible (Cambridge Ed.)
Commentator Peggy Noonan has written a Wall Street Journal editorial entitled, “This Is No Ordinary Scandal: Political abuse of the IRS threatens the basic integrity of our government.”
Noonan is often, or at least occasionally, insightful, and in this case, I was pleased to see her sentiment conforms to an editorial I wrote last Saturday:
This is a big deal. Unlike other IRS problems throughout the years, this one features not just individual “enemies” but also a broad cross section of US citizens that are concerned about the growing unconstitutional actions of their government.
Continue Reading at TheDailyBell.com…
by Llewellyn H. Rockwell, Jr.
LewRockwell.com
Brian Wilson talks to Lew Rockwell about the Boston bombing, the IRS, and Ron Paul.
Click Here to Listen to the Audio
Continue Reading at LewRockwell.com…
from Jesse’s Café Américain
 [...] I think we saw another such period of ‘staring into the abyss,’ and the Western central banks have reacted, and that reaction has continued, most likely to an excess. And this is yet another one of their many policy errors. But as Brad DeLong said, Bernanke decides what the market is. And for now it is useless to challenge the power of the central banks to set value at will.
I have some more serious thoughts on what has been happening in the markets, and what these things might imply. I think that the official picture of what is going on is not what is happening, and that for some reason we are being misled.
I hate to engage in speculation, but that is required by the nature of how these things are now. I do like to form a ‘model’ or strawman on which to hang additional data I collect to see if it hangs together, or implies something else.
Continue Reading at JessesCrossroadsCafe.Blogspot.ca…
Also, “Forget a QE Exit Plan – Serial Money Printing Is the Wave of the Future”
by James J Puplava CFP
Financial Sense
 The first Big Picture topic this week is “Game of Thrones – the Dollar vs. Gold”. Jim looks at the massive global currency debasement among central banks, and in that current game the dollar is king. Gold is in the background and not a major player. Jim believes this will not last, but for now the dollar is winning the game. The next topic, “Forget a QE Exit Plan, Serial Money Printing is the Wave of the Future”, Jim notes that 14 central banks around the world have cut interest rates, and are printing money with no exit strategy in sight. He notes that the next Fed Chairperson, widely assumed to be Janet Yellen, will make Ben Bernanke look conservative when it comes to money printing.
Click Here to Listen to the Audio
Continue Reading at FinancialSense.com…
from Zero Hedge
 There is a reason why in Europe, no matter how much some want to deny it, the Cyprus deposit confiscation “resolution” has become the norm. Quite simply, as BofA summarizes, “Europe’s economy struggles with too many banks, too much debt and too little growth. A long history of empire, trade, war and commerce means a long history of banking. The world’s first state-guaranteed bank was the Bank of Venice, founded in 1157, and the world’s oldest bank today is also Italian, Monte Paschi di Siena (founded 1472). In many European countries, bank assets dwarf the size of the local economy and are far in excess of other regions in the world. This is similarly reflected in the local stock exchanges: even now financials account for 42% of the Spanish stock market and 31% of the Italian stock market versus ust 16% in the US.”
Continue Reading at ZeroHedge.com…
from Wealth Cycles
 On March 20, 2013, the Swiss People’s Party, considered a right-wing populist and nationalist party, collected enough signatures to force a referendum on Switzerland’s gold reserve. If passed the initiative would require the Swiss National Bank (SNB—the country’s central bank) to maintain at least 20% of its assets in gold, and mandates that the gold be kept entirely in Switzerland. The Swiss National Bank, not surprisingly, does not consider this a great idea.
Switzerland, the last issuer of paper currency backed by gold reserves, began reducing its reserves after the country’s new constitution took Switzerland off the gold standard in 2000. Previously, the SNB was mandated to keep at least 40% of the Swiss Franc in gold reserves. In the intervening 13 years, gold reserves have declined to 1040 metric tons, or approximately 10% of the SNB’s assets. Bringing the reserve up to the 20% threshold required by the referendum would cost approximately $50 billion, if they could find the volume for offer, that is.
Continue Reading at WealthCycles.com…
by Tekoa Da Silva
Bull Market Thinking
While mainstream news sources continue the war against gold and gold-related investments, three of the world’s top performing hedge fund managers have been busy at work building speculative gold positions during the first quarter.
George Soros, John Paulson, and Steve Cohen, who in aggregate control over $60 billion dollars, have been aggressively buying the most speculative vehicles associated with gold: call options on gold mining stocks.
Starting out with, George Soros, billionaire financier and chairman of Soros Fund Manangement LLC, was the target of bearish gold commentary this week issued by Bloomberg. While Bloomberg journalists correctly reported that he’s been cutting his stake in gold, what they failed to mention (which was articulated here on May 16th), was how he reallocated the proceeds.
Continue Reading at BullMarketThinking.com…
by Dr. Paul Craig Roberts
PaulCraigRoberts.org
 Over the past month there has been a statistically improbable concurrence of events that can only be explained as a conspiracy to protect the dollar from the Federal Reserve’s policy of Quantitative Easing (QE).
Quantitative Easing is the term given to the Federal Reserve’s policy of printing 1,000 billion new dollars annually in order to finance the US budget deficit by purchasing US Treasury bonds and to keep the prices high of debt-related derivatives on the “banks too big to fail” (BTBF) balance sheets by purchasing mortgage-backed derivatives. Without QE, interest rates would be much higher, and values on the banks’ balance sheets would be much lower.
Quantitative Easing has been underway since December 2008. During these 54 months, the Federal Reserve has created several trillion new dollars with which the Fed has monetized the same amount of debt.
Continue Reading at PaulCraigRoberts.org…
USA exports of gold in Jan/Feb equal to 130 tonnes/USA produces only 40 tonnes/ massive raid on gold and silver/GLD gold falls another 3.01 tonnes/Silver inventory at SLV drops 4.49 tonnes
by Harvey Organ
Harvey Organ’s Daily Gold & Silver Report
 Gold closed down $22.20 to $1364.90 (comex closing time). Silver fell by 30 cents to $22.34 (comex closing time)
In the access market at 7 pm gold and silver are the following :
gold: $1360.20.
silver: $22.26
The bankers showed up early ready to attack gold and silver and their attack was fierce with copious non backed gold/silver paper. It seems that in the past 8 months,83% of Friday’s resulted in raids. The demand for physical remains off the charts as premiums in India and China remain very high. Yet these criminals continue to drive the paper price lower much to the delight of citizens of Eastern persuasion.
Continue Reading at HarveyOrgan.Blogspot.ca…
by Hubert Moolman
Hubert Moolman’s Blog
The Dow making new highs is likely to be very good news for silver investors, because nominal silver peaks tend to come after significant nominal peaks in the Dow. These stock market rallies are driven by the expansion of the money supply, causing a big increase in value of paper assets (including stocks) relative to real assets.
When the increase in credit or the money supply has run its course, and is unable to drive paper price higher; value then flees from paper assets to safe assets such as physical gold and silver, causing massive price increases.
The two most significant nominal peaks of the Dow were in 1929 and 1973. Silver made a significant peak in 1935, about six years after the Dow’s major peak in 1929. Again, in 1980, silver made a significant peak, about seven years after the Dow’s major peak in 1973. So, if the Dow is currently forming a major peak (like I think it is), we could possibly expect a major peak in silver, towards the end of this decade to early next decade. This means we are likely to have rising silver prices for many years to come.
Continue Reading at HubertMoolman.Wordpress.com…
by Martin Armstrong
Armstrong Economics
 Well that post has brought tons of emails from those in the engineering world. Glad the light has gone off. We need to turn it on in government. One comment wrote:
– When you discuss containing velocity of the markets and changing the velocity do you refer to increasing the speed of the implosion and or explosion of inflation and deflation resulting in stagflation? Is the change in velocity similar to thermodynamics where you can change the thermo velocity in order to contain and control the convaluting wave of inflation and deflation and its extreme thermal effects?
– What you have achieved is testament to us all your continual pursuit of answers and truth whilst harnessing that internal fire regardless. Truly your knowledge, understanding and interpretation which has developed cycle theory and resulted in the creation of the ECM is monumental and will inevitably reverberate in time incandescently. It would be a great honour to partake in your new operation in Switzerland in any capacity, whilst being able to stimulate my mental yearning and learn as much as possible.
Continue Reading at ArmstrongEconomics.com…
from Lewis Mariani Publishing
 In the context of the current U.S. Dollar valuation bubble, silver’s eventual price rise seem inevitable. This paper currency bubble commenced with a desperate flight to quality, despite the fact that the U.S. Dollar had been an intrinsically worthless currency since it was taken off the gold standard by Nixon in the early 1970’s.
Silver is one of many sought after investment choices when risk aversion is high. What makes it a convenient choice happens to be that the metallic commodity has special qualities that have historically made it one of the best forms of money.
The key is not to say that silver would necessarily become a medium of exchange, although it might indeed be useful as an asset that could be bartered in an emergency situation.
Continue Reading at Lewis-Mariani-Publishing.com…
from Leap2020.eu
 Despite a feeling of relative calm given by both the media and the American and Japanese financial markets going from record to record, the world economy is slowing down badly and a widespread recession is looming. The various players are fully aware of it and, in the face of the challenges of an imminent collapse, countries or regions are putting various strategies in place to try and limit the consequences. Whilst some seem dictated by desperation or last chance solutions, others on the contrary bear witness to a real adaptation to the world’s current changes. And it’s no surprise that, in the first category, we find the “powers of the world before” which no longer have any real options.
Continue Reading at Leap2020.eu…
from Russia Today
Warships from Russia’s Pacific Fleet have entered the Mediterranean for the first time in decades. Russia’s Navy Chief says the task force may be reinforced with nuclear submarines, as the country starts building up a permanent fleet in the region.
“The task force has successfully passed through the Suez Canal and entered the Mediterranean. It is the first time in decades that Pacific Fleet warships have entered this region,” the Pacific Fleet spokesman, Capt. First Rank Roman Martov told RIA Novosti.
The vessels are now heading to Cyprus and will make a port call in the city of Limassol, he added.
The group includes destroyer Admiral Panteleyev, two amphibious warfare ships Peresvet and Admiral Nevelskoi, as well as a tanker and a tugboat.
Continue Reading at RT.com…
by Martin Armstrong
Armstrong Economics
 Thank you for all the fan mail on the Dow to offset the hate mail on the metals. The objective is to expose the real world we live in and how domestic policy objectives are really held hostage to international capital flows. We are really trying hard to get everything up and running ASAP. Many are starting to realize why we were the largest institutional advisers ever. This is not about personal opinion. It is about monitoring the world and explore how it functions forgetting the nonsense of one dimensional relationships that always flip and fail anyhow. When you see the world as one entity, you are on your way to becoming a savvy investor.
The following is a passage from the updated Greatest Bull Market in History we hope to have out by the end of the year covering the evolutionary process. It has been extended dramatically expanding the time frame before and after. Here is a period where during the War the Fed was ordered by Congress to support the US debt at PAR despite the fact that inflation was soaring. This illustrates the problem with politicians. They try to have their cake and eat it too.
Continue Reading at ArmstrongEconomics.com…
[Ed. Note: Central banks "saved" the world economy in roughly the same way that hired goons might "save" your kneecaps, assuming that you pay them enough.]
by Alister Bull
Reuters.com
 (Reuters) – Central banks got it right when they saved the world economy, but their unprecedented actions risk disruptive cross-border spillovers and potentially heavy losses when the time comes to reverse course, the IMF said on Thursday.
In its most detailed survey so far of the dramatic measures taken to counter the damage from the 2007-2009 financial crisis, International Monetary Fund staff repeated earlier assessments that the steps had worked but face diminishing returns.
However, in new research, they also said central banks could face severe losses when they begin to withdraw the extraordinary sums of money they have pumped into financial systems around the world.
Continue Reading at Reuters.com…
by Jan Skoyles
The Real Asset Co
On the 12th and 15th April gold fell victim to a price smash.
Why this happened is something which is open to much analysis and theorising. For the mainstream media it was down to an improving global economy and the need to hold gold no longer existed, for those in the world of gold investment this was perhaps down to more of the politics behind the gold-market than the economics.
On April 12th 3.4 million ounces (100 tonnes) of gold was sold in the US futures markets. This was just for starters, the main, side and dessert appeared over the following hours and the next session on the Chicago Mercantile Exchange (COMEX).
Continue Reading at TheRealAsset.co.uk…
from King World News
 Today 50-year veteran Art Cashin warned King World News that the shorts are now being squeezed in the stock market. Cashin, who is Director of Floor Operations at UBS, also warned that the stock market may now see a parabolic move to the upside.
Cashin: “What we are seeing (in the stock market) is people who are short are hurt, and people who are underinvested are being punished. You can almost feel the pain in the buying … So whether you call it, ‘Hold your nose and buy them,’ or ‘Have a gun to your head and buy them,’ that’s what’s been going on.”
Continue Reading at KingWorldNews.com…
by Andrew Hoffman
Miles Franklin
Read the Thursday Afternoon Wrap-Up for 5/16/2013 and the Friday Morning Commentary for 5/17/2013
Sometimes pictures tell more than words; so I’m going to show you some graphics that prove TPTB may have won the recent “battle”; but are MASSIVELY losing their “war” against REAL MONEY – a war, I might add, they have ALWAYS lost…
Research shows ALL Paper Money Systems Failed
Whilst PAPER PM prices were violently attacked during mid-April’s “ALTERNATIVE CURRENCIES DESTRUCTION”…
Continue Reading at MilesFranklin.com…
from Zero Hedge
 Much has been made of equity inflows this week (though we note a significant outflow from high-yield bond funds – just as risk-on in its nature) and once again the money-on-the-sidelines fallacy is hawked at every opportunity. Two critical aspects are important to get past this ‘fact’ as some positive driver. First, money does not ‘enter’ the market, it is swapped (e.g. Person A’s cash is used to buy shares from Person B; after the transaction the roles are swapped with Person B holding cash on the sidelines and Person A holding shares); and secondly, as Morgan Stanley’s Gerard Minack notes, despite all the disclaimers – retail flows assume that past performance is a good guide to future outcomes. Consequently money tends to flow to investments that have done well, rather than investments that will do well.
Continue Reading at ZeroHedge.com…
from SRSRocco Report
There seems to be a great deal of the yellow metal heading out of the United States and into certain foreign countries lately. According to the USGS, the United States exported 129 metric tonnes of gold Jan-Feb, 2013. At this rate, total U.S. gold exports could reach 700-800 metric tonnes this year. With the recent take-down in the price of gold in April & May, I would imagine the United States is more than likely going to reach that figure.
If we look at the chart below we can see just who received all this gold:
The figures in the chart represent gold in refined bullion, Dore’ & precipitates. The U.K. received 7.4 metric tonnes in Jan and 11.5 more in Feb for a total of 18.9 metric tonnes. Hong Kong came in second by importing a total of 40 metric tonnes (Jan-Feb) from the United States, while Switzerland received 43.5 metric tonnes.
Continue Reading at SRSRoccoReport.com…
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