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Revolver Maps

Victoriatus Hoard Available now for Christmas

armstrongeconomics.com / by Martin Armstrong / Dec 13, 2017

The EU is now developing strict rules for carrying cash when traveling to non-European countries and returning to Europe. The revision of the First Cash Control Regulation from 2005, which stipulated that EU citizens should register cash in excess of € 10,000 when leaving the EU or when returning to the customs authorities have to, is what is under review. They want to lower the number and include gold, gemstones, and cash debit cards.

Interestingly, cryptocurrencies are not to be regarded as cash. Why? They are not sure how to detect them. The EU explanation reads: “Despite the high risk emanating from cryptocurrencies like Bitcoin, these are not added to the cash. The reason for this is that the customs authorities lack the technical means to discover cryptocurrencies. “

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WTI/RBOB Steady Despite Huge Gasoline Build, New Crude Production Record

zerohedge.com / by Tyler Durden / Dec 13, 2017 10:38 AM

Despite last night’s surprisingly large API-reported crude draw, WTI/RBOB prices were sliding in early trading but as the DOE data printed prices stabilized despite a smaller crude draw than API and a much bigger gasoline builds than expected. Production surged on the week to a new record high.

Bloomberg’s Mitch Martin noted that the Brent pipeline leak and another in Canada have U.S. refineries running hard to capture the widening crude differentials. That’s leading to oversupply in the gasoline market, which has seen inventories build for three straight weeks; a fourth is expected, increasing supply by 1.8 million barrels. Distillates also are expected to build, rising 1.1 million barrels, even as crack spreads recovered to more than $20 a barrel.

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The Electric Car Upside . . .

ericpetersautos.com / By Eric Peters / December 13, 2017

Is there any upside to electric cars?

In the interest of fairness, this question should be fairly answered. As is true of almost anything – Hitler did build the Autobhans, after all – you can find a fewgood things to say about electric cars . . . if you look long and hard enough – and don’t ask too many pesky follow-up questions.

The heat works immediately –

An electric car is like a mobile space heater, one of those little boxes you plug in at home or work to take the chill off the room you’re in. They make heat as soon as you turn them on – assuming there is current flowing. In a non-electric car, you have to wait for the engine to warm up first. This usually takes several minutes, at least, on a very cold day and in the meanwhile you stay cold.

On the other hand . . .

The electric car’s electrically powered heater uses power directly to make heat – just as a home/office space heater does – while heat in a non-electric car is a free perk of internal combustion that makes use of the heat produced by the engine as a waste product. It does not cost you energy to  turn the heat on in an IC-engined car; you won’t use more gas to keep the heat on – even at full blast – and your range won’t be reduced.

Use of the heat in an electric car will do both those things.

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How to Lose $1.3 Million in Cryptocurrencies

caseyresearch.com / By Greg Wilson, analyst, Palm Beach Confidential / December 12 2017

Justin’s note: Many of our readers have written in recently asking about cryptocurrencies. Some of you have even started speculating on them…and are starting to see big profits. But if you’re not careful, you can lose a lot of money.

That’s why today, I’m sharing a new essay from one of the Palm Beach Research Group’s top crypto experts, Greg Wilson. Below, Greg shows you how to avoid some of the biggest mistakes new crypto investors are making right now…


By Greg Wilson, analyst, Palm Beach Confidential

Jay looked down at his crypto portfolio. Six weeks earlier, it stood at 632 bitcoins. Now it was just 215.

His loss at the time… $1.3 million. (As of this writing, $7.2 million.)

This wasn’t just from a fall in prices. But rather one trading mistake after another.

You might be surprised it’s even possible. Bitcoin is up 1,643% year-to-date. And the entire cryptocurrency market is up 9,034%.

So how did it happen? According to Jay (name changed due to privacy concerns):

“It was pure greed.”

As I’ll explain in a moment, Jay made every mistake in the book.

Each mistake compounded the previous one.

And in the end, Jay’s portfolio dropped by two-thirds in just a few short weeks.

I’m telling you his story so that it doesn’t happen to you.

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“You’re Fired… Again”: Omarosa Is Leaving The White House

zerohedge.com / by Tyler Durden / Dec 13, 2017 10:29 AM

One of Trump’s oldest familiars, Senior White House aide Omarosa Manigault Newman who is much more famous for being the former star of the initial season of “The Apprentice” – as well as a longtime supporter of President Trump – is leaving the White House next month. Her resignation will be effective Jan. 20, press secretary Sarah Huckabee Sanders told The Associated Press.

Technically, Manigault Newman serves as director of communications for the White House Office of Public Liaison, although the Trump aide and long-time supporter was better known for her role on the first season of “The Apprentice.” She was famous enough to go by one name: Omarosa.

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BITCOIN TOTAL WIPEOUT ALERT…

clivemaund.com / CLIVE P. MAUND / December 13, 2017

I have lain in wait before writing this stark a warning on Bitcoin, because if you “cry wolf” too often with something like this, you are simply written off as a fool within days if it carries on up and up. It could yet do so, but now we are seeing really extreme manifestations of mania suggesting that the top is at hand, and if not we are very close to it.

Bitcoin has gone more vertical than the vertical face of Half Dome in Yosemite National Park in recent weeks, and those of us with memories of past manias and crashes know exactly what that means.

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Hope for the day of deliverance but avoid predicting it

gata.org / CHRIS POWELL / December 13, 2017

Dear Friend of GATA and Gold:

Some of you are inquiring about GATA consultant Harvey Organ’s excellent work calling attention to the huge increase in the use of the New York Commodities Exchange’s “exchange for physicals” procedure for fulfilling long contracts for gold and silver:

http://www.gata.org/node/17873

It seems that most gold and silver bought through futures contracts on the Comex in New York and claimed for delivery now is being delivered in London through what long had been described as an “emergency” mechanism. Since the metals are reported to be in backwardation in London — prices for immediate delivery being higher than prices for future delivery — all this suggests an extreme shortage.

… Dispatch continues below …

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Watch Live: Rosenstein Takes The Hot Seat As Republican Fury Over FBI Bias Heats Up

zerohedge.com / by Tyler Durden / Dec 13, 2017 9:55 AM

Moments from now Deputy Attorney General Rod Rosenstein, who has the unfortunate role of overseeing Special Counsel Mueller’s Russia investigation, will take the hot seat before the House Judiciary Committee to get grilled by Republicans on what increasingly appears to be a hopelessly conflicted FBI.

As we’ve pointed out repeatedly over the past week (see here for the latest: “Trump Should Go F Himself” – Texts Leak From FBI Agents On Russia Probe, Hillary Emails Investigation), Mueller’s lead FBI agent, Peter Strzok, was completely exposed as a political hack after anti-Trump text messages between he and his mistress were revealed.  The text messages allegedly resulted in his sudden dismissal back in August even though they were not revealed to the public until recently.

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Here Is What’s At Stake Post-FOMC In Gold, Silver And The US Dollar

kingworldnews.com / December 13, 2017

Here is a look at what’s at stake post-FOMC in gold, silver and the US dollar.

December 13 (King World News) – It’s time to take a look at the US dollar, which was hit post-FOMC.  Note the head & shoulders pattern on the right hand side of the chart.  A break below the neckline would send the dollar back to the recent lows of roughly 91 from the current 93.5 level (see chart below).

Head & shoulders pattern may push USDX back to lows

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Dot Plot Shows 3 Hikes in 2018: Fade the Consensus

themaven.net / Mike “Mish” Shedlock / 

The Fed hiked 1/4 point with no unexpected discussion. A Dot plot shows Fed participants believe 3 more hikes are coming

The full text if the FOMC Statement for December shows the committee unanimously approved a 1/4 percentage point increase in the Fed Funds rate to a range of 1.25% to 1.50%.

Interest rate paid on required and excess reserve balances to 1.50 percent, effective December 14, 2017.

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Italian Bonds, Stocks Tumble On March Election Report

zerohedge.com / by Tyler Durden / Dec 13, 2017 9:47 AM

Two days after Prime Minister Paolo Gentiloni’s one-year anniversary of taking the country’s top job, Italy’s political parties have reached an agreement on when next year’s election will be held, according to Italian media reports, with the news prompting a selloff across Italian assets. According to local press, President Sergio Mattarella will dissolve parliament this month and set a March 4 election date.

The date has not yet been formally confirmed, but according to Repubblica, Italian President Sergio Mattarella – the only person who can call an election – and Italy’s main political parties have agreed on the date for Italy’s next general election. The vote has to be held before May 20th, 2018, The Local notes.

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Trump Going After Obama-Appointed Liberal Judges

thecommonsenseshow.com / By Dave Hodges / December 13th, 2017

President Trump is making the political assassination of Obama appointed federal judges a hobby. Navarro and Contreras are the only the first 2 casualties of the war against the Deep State.

SOURCE

2 Charts That Might Define the Fed’s Jerome Powell Era

financialsense.com / FF WILEY / 12/13/2017

In September, we proposed a theory of the Fed and suggested that the FOMC will soon worry mostly about financial imbalances without much concern for recession risks. We reached that conclusion by simply weighing the reputational pitfalls faced by the economists on the committee, but now we’ll add more meat to our argument, using financial flows data released last week. We’ve created two charts, beginning with a look at cumulative, inflation-adjusted asset gains during the last seven business cycles:

According to the way that the Fed defines its policy approach, our first chart stamps a giant “Mission Accomplished” on the unconventional policies of recent years. Recall that policy makers explained their actions with reference to the portfolio balance channel, meaning they were deliberately enticing investors to buy riskier assets than they would otherwise hold. Policy makers hoped to push asset prices higher, and they seem to have succeeded, notwithstanding the usual debates about how much of the price gains should be attributed to central bankers. (See one of our contributions here and a couple of other papers here and here.) But whatever the impetus for assets to rise, it’s obvious that they responded. In fact, judging by the data shown in the chart, policy makers could have checked the higher-asset-prices box long ago, and with a King Size Sharpie.

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Yellen’s Big Goodbye (And What She’s Leaving Behind)

zerohedge.com / Authored by Kevin Muir via The Macro Tourist blog / Dec 13, 2017 9:34 AM

The past three Fed Chairs before Yellen all had their own crisis to deal with.

Volcker had the disaster of the early 1980’s as he struggled to tame inflation with double digit interest rates. That helped contribute to the Latin American debt crisis, and the subsequent global bear markets in stocks.

He handed over the reins to Greenspan in the summer of ‘87 and within months, the new Fed Chairman faced the largest stock market crash since the 1920’s. That trial by fire was invaluable for Greenspan, as he faced a second crisis when the DotCom bubble burst at the turn of the century.

His successor, Ben Bernanke also did not escape without a record breaking financial panic when the real estate collapse hit the global economy especially hard in 2007.

But Yellen? Nothing. Nada. She has presided over the least volatile, most steady, market rally of the past century. Was she lucky? Or was this the result of smart policy decisions? I tend to attribute it more to luck, but it’s tough to argue that she made any large mistakes. Sure you might quibble about the rate of interest rate increases. And her critics will argue that economic growth, and more importantly, wage increases have been especially anemic under her watch, but to a large degree, those variables are out of her hands.

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Post Market Wrap Up PLUS: Fed. Hikes! IMPORTANT Updates, Dollar, Bonds, Bitcoin, Metals.

Gregory Mannarino, Published on Dec 13, 2017

GAFFE QUEEN SHEILA JACKSON LEE CONGRATULATES “DOUG MOORE” ON ALABAMA WIN; TWITTER GLORIOUSLY MOCKS HER

thedailysheeple.com /  VIA 

Everyone’s favorite Gaffe Queen shared another gem on Twitter yesterday. She deleted the Tweet and wrote a new one in its place, but it was too late…was was seen could not be unseen, and in this day and age of screenshotting, the damage was already done.

Here’s what Lee Tweeted on December 12, upon learning that Democrat Doug Jones won the Alabama Senate race:

Oops.

As Samantha Chang of BizPac Review points out, “Roy Moore is apparently living rent-free in Sheila Jackson Lee’s head.”

Twitter users questioned Lee about her nonsensical Tweet…

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Wall Street Journal: “Steve Bannon Is For Losers”

zerohedge.com / by Tyler Durden / Dec 13, 2017 9:18 AM

Most of the mainstream media seems to be under the impression this morning that Roy Moore lost the Alabama Senate because he identified as a conservative, or because he was backed by Bannon or because Albamians suddenly decided to reject “Trumpism.”  The irony here, of course, is that the one thing they DON’T seem to be interested in attributing Moore’s loss to is his past relationships with underage girls…which is the only thing they DID want to talk about up until this morning.

Therefore, it should probably come as no surprise that the Wall Street Journal Editorial Board has now weighed in on the topic and come to the conclusion that Moore lost because “Bannon is for losers.”

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Two huge current vaccine scandals the press isn’t covering

jonrappoport.wordpress.com / by Jon Rappoport / December 13, 2017

The old question about a tree falling in the forest is relevant here. Does the tree make a sound if no one is there to hear it?

If a scandal erupts and the press doesn’t cover it, is it a scandal?

If this sounds strange, consider that, since the dawn of time, whatever has passed for mainstream news has substituted for the direct observation of events by humans. The press has functioned as the eyes and ears and even mouths of the public.

If someone tells you, “I am your eyes, trust me,” and then they fail, on purpose, to see something vital, where are you if you trust them? You’re blind.

Two giant vaccine scandals are in progress at the moment. The mainstream press is mentioning them, here and there, but without any intent to raise alarms, dig in, investigate, and get down to the core of what they mean.

The first scandal revolves around the flu vaccine for the current year. As I recently wrote, a new study has concluded the vaccine has a very low effectiveness rate. Why? Because the vaccine is produced using chicken eggs, and in that medium, the flu virus—which is intentionally placed in the eggs—mutates. Therefore, it isn’t the same virus which is causing flu this year.

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Gundlach: “Bet Against Bitcoin and Make Money”

themaven.net / Mike “Mish” Shedlock / Dec 13, 2017

Jeffrey Gundlach, chief executive officer of Doubleline Capital LP sees Bitcoin as the “big rock of silly season”.

Beyond Skeptical

Jeffrey Gundlach is beyond skeptical regarding bitcoin. He says Bet Against Bitcoin Today to Make Money.

We’re starting to see the big rock of silly season” on the cryptocurrency, Gundlach told CNBC’s Scott Wapner on CNBC’s “Halftime Report.” “This is the kind of nutty stuff. The fact we’re talking about it 24/7.”

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Gold Pops, Bond Yields Drop, & Dollar Flops After Weaker-Than-Expected CPI

zerohedge.com / by Tyler Durden / Dec 13, 2017 8:56 AM

Hours ahead of today’s “historic” final Yellen FOMC rate hike, CPI disappointed and traders are bidding bonds and bullion while dumping the dollar

The odds of two rate hikes next year just tumbled…

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The US Government Is Spending Money Like a Drunken Sailor

schiffgold.com / BY SCHIFFGOLD  / DECEMBER 13, 2017

The US federal government is spending money like a drunken sailor.

And that’s probably unfair to drunken sailors.

In November alone, the US government reported a $139 billion deficit.

Pause for just a moment and think about what that actually means. Last month, the government spent $139 billion (billion – with a B) more than the revenue it took in. In other words, it put $139 billion on a credit card.

In one month.

Of course, this is nothing new. In November 2016, the feds reported a $137 billion deficit.

Economists polled by Reuters projected a $134 billion deficit last month. So, the government actually managed to spend $5 billion more than expected. But what’s a few billion dollars between friends, right?

Through the fiscal year to date, the US government has run up a $202 billion deficit, compared to $183 billion in the comparable period for fiscal 2017. You might be thinking, oh, well that’s not too bad for the whole year. But you have to remember the fiscal year for the US government starts in October. So that’s $202 billion in two months.

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Fake News, Fake NFL Fans and Now Fake Ancestry Reports

thecommonsenseshow.com / By Dave Hodges / December 13th, 2017

Everything the liberals touch turns fake from news, the NFL fans to ancestry reports

SOURCE

CNN’s Anderson Cooper Blames “Pathetic Loser Trump” Tweet On Hackers

zerohedge.com / by Tyler Durden / Dec 13, 2017 8:55 AM

Hours after Doug Jones defeated Roy Moore in Alabama last night, and following President Trump’s ‘congratulations’ tweet, CNN’s Anderson Cooper appeared to respond in a manner most un-becoming – calling the president a “pathetic loser”

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Bank Of England Warns The UK: ‘Economic Collapse’ If UK Keeps Borrowing Money

shtfplan.com / Mac Slavo / December 13th, 2017

The Bank of England is putting the United Kingdom on alert.  Should the UK keep borrowing money, there will be a “Venezuela-style” economic collapse that will devastate normal citizens.

A senior Bank official has warned that the UK’s economy would be unlikely to survive borrowing any more cash. Richard Sharp, a member of the Bank’s Financial Stability Committee, claimed an extra £1trillion had already been borrowed since the 2008 financial crisis, and any more could see the economy collapse in the same quick manner that Venezuela’s did.

 The Times reported on the stark warning mere days after Philip Hammond announced a £25 billion spending spree in the budget.

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Dollar in Death Row | John Embry

SilverDoctors, Published on Dec 13, 2017