Silver Stackers Can End The Silver Manipulation And Stop The Criminal Banksters
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One week ago, the world was not exactly shocked to learn that after Germany and the Netherlands, one more country had unofficially joined the ranks of nations who have seen this all before and know how it ends, when reports emerged that Austria would repatriate 140 tons of gold from the Bank of England (appropriately immortalized in “this is what happens when you hand your gold over to The Bank of England for “safekeeping“.) As of today, it is official.
Earlier today the Austrian Central Bank confirmed the Kronen-Zeitung report, and said that by the year 2020, it would hold 50%, or 140 tons, of its gold domestically, up from 17% currently. This means that Austria will withdraw some 140 tons of gold from the BOE which holds 80% of Austria’s gold currently (and will soon hold only 30%) and send 92.4 tons back home to Vienna with another 47.6 tons being sent to Switzerland.
Which is also the biggest news: Austria is explicitly demonstrating a lack of confidence in the “pro-western” system of which the Bank of England is a critical cog, and instead opting for “neutral” Switzerland, which will hold nearly 50 tons of the gold formerly located at the Bank of England.
As AFP notes, the central bank said it took the decision after recommendations made by the Austrian Court of Audit in February, which warned of a “heightened concentration risk” linked to storing the majority of its reserves in Britain. At the time, the bank had argued the policy was warranted because London was a major international centre for the gold trade.”
Well, London still is a major international center, but in the past three months the bank surprisingly changed its mind after reviewing the court’s advice to diversify storage locations.
What’s so curious is that just as the silver (and gold) COMEX price manipulation becomes more blatant and easier to prove, those being damaged the most by it, silver producers, are nowhere to be found; even though there is much they could do to end the damage inflicted on shareholders by artificially depressed prices. Let me explain how the price manipulation is becoming more obvious and then what mining companies can do about it.
Before I do this, please know that I am deliberately intending to make what must be considered a fairly complicated circumstance to be as simple and specific as possible and will leave out all manner of allegations of corruption by those responsible for the manipulation or the regulators or what many believe to be the hidden motives behind the manipulation. That doesn’t mean that I don’t have such strong sentiments, it just means I am putting those thoughts aside for the purpose of keeping things as unemotional and simple as possible.
As I indicated on Saturday, there can be no clearer proof of manipulation in COMEX silver and gold than was documented in the Commitments of Traders Report (COT) as of the close of business May 19, 2015. In just one reporting week, more managed money contracts were bought and more commercial contracts were sold in COMEX silver and gold futures than ever in the more than 30 year history of the COT report.
In COMEX silver, there was net commercial selling of nearly 24,400 contracts which is the equivalent of 122 million ounces and managed money net buying of more than 28,200 contracts, which is the equivalent of 141 million ounces. Since the world produces 2.3 million ounces of silver each day through mining, this means the commercials sold 53 days and the managed money traders bought 61 days of world silver mine production in one five day trading week.
In an attempt to broaden their international appeal, the ISIS media machine, Al Hayat, has launched a new “magazine” in Russian.
Consider the geopolitical and foreign policy overtones of this story. If there was any doubt that either Western or Israeli (or both) intelligence agencies are driving the ISIS public relations zeitgeist – those doubts should be put at rest now…
A week after the 9/11 terrorists attacks that destroyed the Twin Towers in New York, letters laced with anthrax began to pop up across the US. By the end of November, 2001, 17 people had been hospitalized for anthrax exposure and five people were dead from inhalation. A subsequent FBI investigation pinned the entire ordeal on one Bruce Ivins who killed himself in 2008.
Fast forward to yesterday and 26 people are now being treated for exposure after live anthrax was sent via FedEx. The culprit: the US military.
Four lab workers in the United States and up to 22 overseas have been put in post-exposure treatment, a defense official said, following the revelation the U.S. military inadvertently shipped live anthrax samples in the past several days.
CNN learned on Wednesday a Maryland-based lab received the live samples, which prompted an across the board urgent review to see whether any other live anthrax has been shipped.
Officials are concerned because samples left over at the lab in Dugway, Utah, where the samples originated, were tested and determined to contain live agent.
The great minds in economics can’t seem to agree whether the labor market is showing signs of tightness, or if it’s easing up. If labor is tight and tightening, why aren’t wages rising? Why isn’t inflation rising more than 2%? If labor is slack, why aren’t we seeing political and economic pressure to do ‘something’?
The data supporting a tight labor market:
Unemployment at 5.4%
Initial jobless claims at historical lows
Drop in the number of part-time workers
Average weekly hours remain close to cyclical highs, despite manufacturing/oil industry pullback
With business confidence collapsing, Bloomberg’s Consumer Comfort index – after dropping to its lowest since December – plunged once again this week to 40.9 (from 42.4). This is the lowest since Novemeber and extends the losing streak to 7 weeks – something we have not seen sionce May 2008. This confirms Gallup’s weekly tracking of consumer confidence dropped back to its lowest levels since early December 2014 with 53% of Americans now saying the economy is getting worse. Despite all the exuberance over lower oil prices, Consumer Comfort in The South is crashing. Perhaps even worse – for a consumer-driven economy – is that the “buying-climate”suffered its biggest drop since Dec 2011.
Many “experts” say that they can help you invest like the legendary Warren Buffett. Most, unfortunately, have no clue how he actually does it.
Even those few who do understand his deep-value investing style are holding something back from you. They’ll tell you how you can invest like Warren Buffett while omitting a key detail:
You shouldn’t try to.
I know that’s heresy in an era when the Oracle of Omaha is rightfully lauded as one of the world’s greatest, but simply mirroring what he does will not get you where you want to go. Chances are, it won’t produce the returns he gets either.
Here are three reasons you shouldn’t try to invest like Warren Buffett.
Reason No. 1: Buffett Plays by Different Investing Rules
It’s well-known that Berkshire Hathaway has averaged an annual return of more than 20% in the 50 years since Buffett launched it. According to Buffett’s 2015 letter to shareholders, the precise number is 21.6%, including a 27% gain for Berkshire Hathaway’s stock last year.
truthingold.com / Dave in Denver / May 28, 2015 at 10:40
They ruled the vast grasslands of Eurasia for a thousand years, striking fear into the hearts of the ancient Greeks and Persians. But they left no cities or settlements behind, only massive grave mounds, called kurgans, dotting the steppes from Mongolia to the Black Sea.Now one of those kurgans, located in the Caucasus Mountains of southern Russia, has yielded an intriguing discovery: golden artifacts that are shedding light on the shadowy world of the Scythians, fierce nomads whose exploits—and drug-fueled rituals—were chronicled by the Greek historian Herodotus.
“It’s a once-in-a-century discovery,” says Anton Gass, an archaeologist at the Prussian Cultural Heritage Foundation in Berlin. “These are among the finest objects we know from the region.”
The find—kept secret until now to protect it from looters—first came to light in the summer of 2013, when Stavropol-based archaeologist Andrei Belinski began excavating the kurgan, called Sengileevskoe-2, to clear the way for a power-line project.
A black residue inside the vessels came back positive for opium and cannabis.
At first Belinski wasn’t optimistic about finding much inside, as there were telltale signs that the kurgan had been plundered in the past. But a few weeks into the excavation, his team came across a thick layer of clay. Digging underneath, they discovered a rectangular chamber lined with broad, flat stones. Inside was something the looters somehow had missed: golden treasures placed there 2,400 years ago.
WTI Crude hit new 7-week lows, dropping below $57 (front-month) for the first time since April 15th’s ‘inventory draw’ rip. In addition to reports from Reuters of leaked details about OPEC not expectated to cut production (did anyone really expect that), a combination of renewed inventory builds (as reported by API last night) and reports that Iraq is increasing its supply to new record highs is forcing futures prices to catch down to physical markets.
thedailysheeple.com / Joshua Krause / May 27th, 2015
You read it in the comment section of every article that is critical of the government, sometimes on this very website. You hear people saying they are ready for the revolution, or asking when we’re going to take up arms against the police state. “When are we going to fight the lackeys of this corrupt system, and take back our rights?” they say.
If you ask me I don’t think physical resistance to this tyranny, should it ever come to that, will be directed towards cops and soldiers, nor do I think it should. Between the military and law enforcement, the armed enforcers of our government are so numerous that every other family in this country has somebody who is a member of these institutions, or at least used to be one. And of course, it goes both ways. Should our nation ever descend into naked tyranny, will these cops and soldiers be willing to persecute their friends, neighbors, and family members, all in the name of the politicians and bankers?
While that question has been endlessly debated for decades, one thing is for certain. Those aforementioned elites don’t trust either side of that fight. They certainly loathe and fear the general population, but more importantly, they also don’t trust their cops and soldiers. They don’t have faith that their enforcers will be willing to lock down this country, and usher in their wicked regime. Sure, some of them, maybe even most of them will, but not enough of them are so morally corrupted and obedient, that their plan would succeed.
When the “embassy” in Benghazi was attacked I said at the time that the available public information did not support any part of the government narrative, but rather was consistent with a planned military-style “hit” on the location and that the people involved were seeking something specific and knew it was there. It was neither spontaneous nor speculative as the exhibition of coordinated command and control over that operation by the rebels was clear and convincing.
Nobody wanted to get into that on the political side and it is my belief that the reason for same is that doing so would blow wide open the fact that plenty of lawless behavior had been going on over there and both sides of the aisle knew it and failed to stop it. This is why it was “safe” in terms of inquiry; while you can pin the acts on the Obama administration it was hardly covert without Republican knowledge and therefore silent assent.
Recently released emails detail then-Secretary of State Hillary Clinton’s interest in arming Libyan opposition groups using private security contractors before the fall of Muammar Qaddafi in 2011 – though at the time, the opposition was not formally recognized by the U.S. or United Nations, which prohibited arming without following strict guidelines and oversight.
The issue remains so sensitive that the emails recently released by the State Department redacted a key line on the matter. But the unredacted version of the same email, released to the congressional Benghazi Select Committee and first posted by The New York Times last Thursday, showed Clinton appearing to endorse the idea of using private contractors to her then-deputy chief of staff, Jake Sullivan.
It’s not a violation of the law (international or otherwise) to think about it. And thus far there’s scant hard evidence that we actually directly made such a shipment in the immediate period before the attack.
Following last night’s surprise inventory build (as reported by API), as one trader noted, “inventory declines are expected this time of yr and more or less expected, we need to see inventory draws accelerating,” and DOE didn’t disappoint reporting a 2.8 million barrel draw (against expectations of a 2 million barrel draw). Inventories remains massively high though and Crude Production soared 3.28% – the biggest rise since Oct 2013. Crude prices initially ripped on the inventory news but are fading.
jonrappoport.wordpress.com / by Jon Rappoport / May 27, 2015
There are dots to connect here. They’re real, and they’re spectacular.
Let me begin with a brief exchange from a 1978 interview, conducted by reporter Jeremiah Novak. He was speaking with two American members of the Trilateral Commission (TC), a group founded in 1973 by David Rockefeller and his intellectual flunkey, Zbigniew Brzezinski.
NOVAK: Yes, but why doesn’t President Carter come out with it and tell the American people that [US] economic and political power is being coordinated by a [Trilateral Commission] committee made up of Henry Owen and six others? After all, if [US] policy is being made on a multinational level, the people should know.
RICHARD COOPER [Trilateral Commission member]: President Carter and Secretary of State Vance have constantly alluded to this in their speeches.
KARL KAISER [Trilateral Commission member]: It just hasn’t become an issue.
This through-the-looking-glass moment summed up the casual arrogance of Trilateral members: of course US government policy was in the hands of Trilateralists; what else would you expect?
US government policy most certainly covers the area of international trade—and Cooper and Kaiser were foreshadowing blockbuster trade treaties to come: e.g., NAFTA, GATT (which established the World Trade Organization), CAFTA, and now, the Trans-Pacific Partnership (TPP), which is being negotiated in secret among 12 nations responsible for a major amount of world trade and world GDP.
Earlier today the European obudsman Emily O’Reilly finally caught up with the ECB’s “market moving” news from a week ago, namely that ECB personnel selectively leak market moving news to hedge funds in so called “Chattam House” rules closed meetings, ahead of proper public disclosure to everyone: easily the biggest sin a central bank, even one which clearly manipulates markets and monetizes debt, is capable of, one that clearly reveals who a central bank really works for.
The ECB promptly blamed the leak on an “internal procedure error” without clarifying just what the error was that allowed Benoit Coeure to leak ECB strategy 10 hours before it was made public.
Letter from the European Ombudsman to the President of the European Central Bank concerning a speech delivered by a member of the ECB Executive Board on 18 May 2015
Re: speech delivered by a member of the ECB Executive Board on 18 May 2015
Dear Mr President,
It has come to my attention that, in a speech delivered by a member of the ECB Executive Board on 18 May 2015 in London, potentially market sensitive information appears to have been disclosed to a limited audience.
The Patriot Act has a bad pedigree and an evil history. In the fearful days immediately following 9/11, the Department of Justice quickly sent draft legislation to Congress that, if enacted, would have permitted federal agents to violate their oaths to uphold the Constitution by writing their own search warrants. The draft subsequently was revealed to have been written before 9/11, but that’s another story.
The House Judiciary Committee reviewed the legislation and revised it so that it would meet Fourth Amendment norms. The revised version permitted federal agents to write their own search warrants for business records, but the warrants could be challenged by the custodian of the records or by the person whose records were being sought. Because the records were in the hands of a third party, they were in no danger of destruction.
The Fourth Amendment was written largely to assure that the general warrants British soldiers used to search the colonists’ homes would never be lawful in the United States. General warrants were issued by secret courts in London based on the government’s needs, not on evidence of wrongdoing. They authorized the bearer to search wherever he wished and seize whatever he found.
In order to protect the natural right to be left alone — privacy — the Framers enacted standards in the Fourth Amendment that required the government to produce evidence about the person whose records it wants — called probable cause — and present that evidence to a judge when it wants a search warrant. If granted, the Constitution requires that the warrant particularly describe the place to be searched or the person or thing to be seized.
On the heels of markets plunging in China, today King World News is featuring a piece from one of the greats in the business discussing the chaos in China, Russia massing troops, a Greek wildcard and the ECB warning of a major threat to financial stability.
May 28 (King World News) – “In your report this morning you discussed that you have to have the ability to adjust to being wrong. In other words, you can’t be too stubborn. You must have a certain degree of flexibility as to what’s going on.” — A TV anchor speaking to me
I replied, “Yes, my father always told me, ‘If you are going to be wrong, be wrong quickly with a de minimis loss of capital.'” Tuesday’s verbal exchange with said anchor brought back memories of another iconic quote from Peter Bernstein. To wit, “After 28 years at this post and 22 years before this in money management, I can sum up whatever wisdom I have accumulated this way: The trick is not to be the hottest stock-picker, the winning forecaster, or the developer of the neatest model; such victories are transient.
The trick is to survive. Performing that trick requires a strong stomach for being wrong, because we are all going to be wrong more often than we expect. The future is not ours to know. But it helps to know that being wrong is inevitable and normal, not some terrible tragedy, not some awful failing in reasoning, not even bad luck in most instances.
As the farcical negotiations between Greece and its creditors unfold ahead of a June 5 IMF payment and as Alexis Tsipras is forced to spread false hope just to avoid a terminal bank run, a picture of the Greek endgame has emerged.
We’ve discussed the political implications of both an agreement or a Grexit and we’ve also taken an in-depth look at what a missed IMF payment means for the country’s EU creditors. On the political front, the troika is intent on sending a strong message to leftist political parties (such as Spain’s Podemos and Portugal’s “ascendant” socialists) that using the threat of a euro exit as a way to extract austerity concessions is not a viable negotiating strategy. What this amounts to is an attempt on the part of the “institutions” to subjugate the political process to economics. In terms of skipping a payment to the IMF — who, as a reminder, effectively paid itself earlier this month by allowing Greece to tap its SDR reserves to pay the bills — there are a number of cross acceleration concerns which you can review by referring to the following graphic.