by Mac Slavo
In 2011 the price of silver topped $48 per ounce, but just a few years later we’ve seen it collapse to such levels that it is now becoming nearly impossible to for mining companies to get it out of the ground and make any sort of profit.
Many believe the price of silver, and it’s precious metal counterpart gold, is being manipulated by top-tier financial organizations that include large investment firms as well as Western central banks. Through the use of heavy leverage and coordinated attacks it is believed that these ‘cartels’ are working to keep the price of silver and gold low in an effort to prevent these resources from supplanting the global reserve status of the U.S. dollar. It’s gotten so bad that the Chinese government has actually decided to open their own precious metals exchanges just to try and counter the manipulation.
Now, even the private mining sector is saying enough is enough.
Continue Reading at SHTFPlan.com…
from King World News
Today CNBC’s Business News On-Air Editor Rick Santelli surprised King World News when he predicted a stunning victory for the Swiss Gold Initiative. Santelli also brought up Germany’s struggle to get their gold back from the United States in his powerful interview below.
Eric King: “Rick, the polling came out (for the Swiss Gold Initiative) and shocked a lot of people, didn’t it?”
Santelli: “It really did. This vote will happen on November 30th, and the Swiss National Bank, if this happens, will have to hold 20 percent of their assets in gold. They will (also) be restricted from liquidating any more gold, and they will be instructed to try to repatriate all the gold they own that is stored in other countries like Britain. And on a bit of a comical note here, Eric, over the last 5 years Germany has been trying to get some of their gold back from the U.S. and they haven’t had much success. (Laughter)….
Continue Reading at KingWorldNews.com…
by David Kranzler
Investment Research Dynamics
Gyrating wildly month-to-month, as seen also with the extreme and unstable monthly reporting of the housing-starts series headline August new-home sales rose by an incredible 18.0% for the month. Even more incredible—as to why the Census Bureau even bothers to publish the current detail—a headline monthly gain of that magnitude was not statistically-significant. – John Williams, Shadowstats.com.
Well guess what? The Census Bureau reported new home sales for September and revised the original number for August down by 38,000, or 7.5%. Recall, the same thing happened in June, when May’s unbelievably high number reported was pole-axed by almost 10%. The data collection and seasonal adjustment algorithms produce a monthly statistic that is vomited out by both the Census Bureau and the National Association of Realtors (existing home sales). Then they compound this grotesque abortion by reporting an “annualized rate” for each month. It’s a complete and utter farce.
Continue Reading at InvestmentResearchDynamics.com…
Prevent Your Digital Cash From Getting Stolen With These Storage Solutions
by Dominic Frisby
The technical details of Bitcoin can be quite confusing for the novice. But this shouldn’t stop you from getting involved in this great money revolution. You can be up and running quite easily without having to understand all the jargon.
But taking a roll of the dice to multiply your wealth is not much good if your bitcoins get stolen. And make no mistake: This can happen. In fact, over the last five years, over half a billion dollars’ worth of bitcoins have been stolen. It’s thought that as many one in 16 bitcoins is now sitting in the wallet of a thief.
Continue Reading at DailyReckoning.com…
by Sy Harding
I’ve been around a long time, through many economic and market cycles, and I don’t recall a time when the bull/bear debate had such strong arguments on both sides.
The bullish case:
- The economic recovery from the Great Recession continues.
- The Fed promises to keep rates low until the economy strengthens more.
- Earnings continue to meet or beat Wall Street estimates.
- Corporations are buying back their stock, decreasing the supply.
- With interest rates so low, there’s no place for investors other than in stocks.
- Oil and energy costs are plunging, leaving consumers with more disposable income.
- The market has finally experienced the overdue 10% correction.
- Favorable seasonality has arrived.
- The S&P 500 breaking below its long-term 200-day m.a. was a false alarm.
Continue Reading at FinancialSense.com…
by Lee Adler
David Stockman’s Contra Corner
There seems to be lots of confusion about today’s Commerce Department release on new home sales. The report showed that new home sales were at a seasonally adjusted annual rate of 467,000. Part of the confusions stems from the fact that that is a completely bogus, made up, fictitious number in the first place. Seasonal adjustments are arbitrary attempts to create a smooth curve and they aren’t finalized until years after the fact. In addition, annualizing a single month is insane to begin with. Analysts are trying to make sense out of fiction. In the meantime, the headline number missed the Wall Street conomist guesspectation of 475,000.
Continue Reading at DavidStockmansContraCorner.com…
Coming to Britain next year, the ‘contactless’ cards that let you pay with a touch of your finger (print)
by Dan Hyde, Consumer Affairs Editor
Credit cards in Britain will next year be issued with fingerprint scanners rather than PINs to speed up shopping.
Instead of placing a plastic card into a terminal and entering a four-digit number, shoppers will merely have to place their finger over a sensor on a card loaded with data on their prints.
If the scanner recognizes the user, it will send a signal to the shop till, prompting a payment to go through.
The first fingerprint Mastercards are expected in Britain next year after a successful trial in Norway.
Continue Reading at Telegraph.co.uk…
from Jesse’s Café Américain
Gold and silver were stopped in their tracks, as the price dominant Comex continues to exert its inordinate influence over the real world economies.
There was apparently little activity in the Comex delivery and so they did not bother to issue a report yet today. In silver there was a rather large deposit of silver bullion of about 2,258,516 ounces into the HSBC warehouse as you can see below.
Next week is a Tuesday precious metal option expiration on the Comex. There is also an FOMC rate decision on Wednesday.
The big changes always take longer than we expect. And once they start, they come much more quickly than we had imagined.
Continue Reading at JessesCrossroadsCafe.Blogspot.ca…
from Zero Hedge
While JPM’s eligible gold holdings are nowhere near the record lows hit in the summer of 2013, when they dropped to a tiny 46K ounces, sparking concerns of a potential deliverable default, yesterday according to the daily CME gold depository report, JPM saw a whopping 321,500 ounces, or about 10 tons of gold, withdrawn. This was the biggest outflow since the August 5 rebalance when nearly 1.5 million ounces were withdrawn and added, and was the biggest, and is tied with two identical 321,500 oz outflows recorded in early January. As of yesterday, JPM’s eligible gold tumbled by 40% in one day, declining to 485.K ounces from over 800K the day before: the lowest eligible gold inventory since almost exactly a year ago.
Continue Reading at ZeroHedge.com…
by Chris Hamilton
Since August ’11 to August of ’14, China has decreased its holdings of US Treasury debt by <-$9> Billion (according to the most recent TIC data)…while continuing to run record trade surpluses with the US. This means China will have (by year-end 2014) taken in $951 Billion in shiny, new, digital dollars and simultaneously sold or rolled off $9 Billion in US Treasury holdings…so China will have had to find a home for $960 Billion new dollars.
From ’00 to ’11, China had (on average) recycled 50% of its trade surplus dollar reserves into Treasury’s. However, as noted above, China has been a net seller since August ’11…why is this date important? It was the month after the debt ceiling fiasco…and the date when China’s purported gold purchase binge began. I don’t think these happenings are a coincidence.
Continue Reading at SRSRoccoReport.com…
by Jason Simpkins
Saudi Arabia has gone rogue.
After originally saying it would work to hold prices at $100 a barrel, the Kingdom now says it’s comfortable with prices below $85, or even $80 per barrel.
Indeed, oil prices have been in a free-fall since June, tumbling more than 20%. Brent crude, which has supplanted WTI crude as the international benchmark, fell from $115.71 a barrel on June 19 to $82.60 a barrel on Oct. 16.
That’s its lowest price in almost four years.
Continue Reading at OutsiderClub.com…
by Graham Summers
The investment world is banking on real growth being just around the corner.
However, the data does not confirm this view.
Let’s talk about China first. Half of all global growth is expected to come from China, which is forecast to grow by 6.5%-7% next year.
Now, China’s economic numbers are for the most part fictitious. However, there is one metric that cannot be fudged and that is electricity consumption. Either electricity is being used or it is not.
Continue Reading at GoldSeek.com…