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Bubbles In The Wind: US Home Prices Rising Over 13X Wage Growth (Blistering Home Price Growth Since QE3 With Dormant Wage Growth) / by Anthony B. Sanders, Courtesy of Confounded Interest • 

Kansas once sang “Dust In The Wind” that reminds me of rapidly rising home prices that are 13.3 times wage growth.

I close my eyes only for a moment, and the moment’s gone
All my dreams (of homeowernship) pass before my eyes, a curiosity

Dust in the wind, all they are is dust in the wind (with low wage growth

RealtyTrac has a new study that verifies what I have been saying since 2012: home prices are growing faster than wages (in fact, 13.3 times faster).



I spoke with my best source and he has information that the Russians training at Ft. Carson, CO., will a part of the Jade Helm 15 drill.  This is in line with the Russians being allowed to train for the highly sensitive Grid Ex II drills in November of 2013. Further, this is also consistent with the omnipresent treason of letting the Russians train in the highly secure war games drill known as RIMPAC.

In the following video, my BIN colleague, Lisa Haven, links Jade Helm 15 to the FEMA camps and Civilian Inmate Labor Camps.

In a previous article, I identified the fact that under FM 3-39.4, the Army Internment and Resettlement, document, the document declares that foreign troops, presumably Russian, will be running the camps.

Let’s cut right to the chase. Jade Helm 15 is about the subjugation of the American people, particularly dissidents, and they are going to use Russian troops in support of this activity. This is why the American-based Russian media is attacking American journalists who dare expose these connections.


RANsquawk – Weekly Wrap – 27th March 2015 / by RANSquawk Video on 03/27/2015 16:58


Now Oregon Democrats Want Background Checks on Private Gun Sales / March 27th, 2015

Imagine you want to sell a gun to your best friend you’ve known for let’s say 15 years, but first you pull out a bunch of forms for him to fill out and tell him he’s going to have to wait because, you know, it isn’t that you don’t trust the friend you are selling the gun to, it’s because the government is forcing you do to it here in the land of the free, home of the brave (read: land of the free, home of the slave).

That’s what Oregon Democrats are expecting in a new introduced a bill Thursday to require background checks on private firearm sales.

Via Washington Times:

Gun control supporters have tried unsuccessfully for years to expand Oregon’s background-check requirement to nearly all gun sales and transfers. They poured money into key legislative races last year and now face much stronger prospects with expanded Democratic majorities in both the House and Senate.

“I grew up in Texas, I’ve owned guns for 45 years. I bought my first shotgun when I was 15,” said Democratic Sen. Floyd Prozanski, a bill sponsor. “I think it’s appropriate, as most gun owners would agree, that we take reasonable steps to ensure bad people that are ineligible aren’t getting access to guns.”

A public hearing on the bill is scheduled for next Wednesday.


Political Dinosaur Harry Reid Announces Exit From Politics / via Biz Pac Review / MARCH 27, 2015

21st Century Wire says…

One of Washington DC’s oldest political dinosaurs is finally being sent out to pasture. 

Nevada’s notorious Senator Harry Reid has announced his coming retirement from politics.

21WIRE reported on last year’s federal stand-off at the Bundy Ranch in Bunkerville, Nevada – an incident which Harry Reid inserted himself into by declaring local cattle rancher Cliven Bundy and his thousands of supporters as “domestic terrorists” because they would not accept the Bureau of Land Management (BLM) theft of livestock and the federal paramilitary takeover of the land surrounding their ranch.

“Those people who hold themselves out to be patriots are not. They’re nothing more than domestic terrorists,” Senator Reid told the Las Vegas Review Journal. “… I repeat: What went on up there was domestic terrorism.”

Speculation is rife as to what has prompted Reid to call it quits so suddenly. A Democratic Party stalwart, Reid has his share of detractors, and as a former Gaming Commissioner in Nevada, Reid certainly was at the center of the ‘action’ – rubbing elbows and greasing the skids of commerce in a mafia haven like Vegas. Biz Pac Review believes it might have something to do with the recent Visas Scandal, stating:

“Reports surfaced this week that the deputy secretary of the Department of Homeland Security pushed through visas for foreigners investing in a Las Vegas casino project at the behest of Reid whose son, Rory, was the lawyer on the project.”

He’s been a little worse for wear lately. It’s still a mystery how he recently acquired his black eye and broken ribs over New Years Eve (“I fell”).

Meanwhile, the compliments just keep on coming…


Obama Administration Bullies Allies Over Iran Nuke Deal Dissent / by Tyler Durden on 03/27/2015 17:00

President Obama is “blowing up our alliances to secure a deal that paves Iran’s way to a bomb,” according to European sources close to the negotiations, and as Washington Free Beacon reports, efforts by the Obama administration to stem criticism of its diplomacy with Iran have included threats to nations involved in the talks, including U.S. allies. France has borne the brunt of Obama’s wrath as one source in Europe close to the ongoing diplomacy said the US has begun to adopt a “harsh” stance toward its allies in Paris because “the clarifications expose just how weak the Americans’ deal is shaping up to be.”

As The Washington Free Beacon reports,


The American History Of Compulsory Vaccination and its Ties to Eugenics / By Attorney Jonathan Emord News, / March 28, 2015

Oliver Wendell Holmes, Jr. 1930. Image from Wikimeida.

Health Impact News Editor Comments

Those currently proposing forced vaccination laws point to a U.S. Supreme Court decision from 1905: Jacobson v. Massachusetts. In fact, the Supreme Court has not heard a compulsory vaccine case since the 1920s.

In the article presented here, Attorney Emord looks at the history of compulsory vaccination, and shows how it was Oliver Wendell Holmes, Jr. who stripped away Fourteenth Amendment rights in regards to compulsory vaccination, the very same judge who ruled in favor of forced sterilization which was supported by the “science” of that day, eugenics. Eugenics is the same “science” used by the Nazis in Germany to endorse eliminating “feeble-minded” people in favor of a “master race.”

The National Socialist Roots Of Compulsory Vaccination 

Legislators in thirteen states have introduced bills that would severely constrict or eliminate exemptions from compulsory vaccination, with the intended aim of coercing, cajoling, or forcing those who have not been vaccinated to become so. Those states are California (SB 277); Illinois (SB 1410); Maine (LD 606); Maryland (HB 687); Minnesota (SF 380 and HF 393); New Jersey (S 1147 and A351); New Mexico (HB 522); Oregon (SB 442); Pennsylvania; Rhode Island (S381); Texas (SB 1114; SB 538; HB 2006); Vermont (H212; S87); and Washington (HB 2009).

Amidst hysteria arising from a relatively small number of cases of measles (some 600 last year and some 150 this year), law makers would take away everyone’s rights to liberty and personal autonomy.

Given the likelihood that at least some of these draconian measures will pass, it is wise to reflect upon our history to see from whence this peculiar deviation from ordinary protection for liberty rights comes. It is also wise to appreciate that the law favoring compulsory vaccination is now scientifically anachronistic and that modern understanding of immunology enables us to employ measures that reduce the risk of disease carriage and transmission without forcibly tying down children and adults and injecting them with substances they do not wish to have in their bodies.

It will surprise many to learn that the concept of compulsory vaccination has national socialist roots in our country that spring from the same drive for a “master race” that led the Nazis to embrace eugenics (including forced sterilization) and dysgenics (including execution of the Jews and others deemed “undesirable”). It will surprise many to learn that the person most responsible for eliminating constitutional protections against such intrusions (the Fourteenth Amendment) is one regarded as among America’s greatest jurists and legal scholars, Oliver Wendell Holmes, Jr. Holmes believed in eugenics and even dysgenics (execution of those whom he regarded as “feeble-minded,” “undesirable,” and “inadequate”).


Housing Contribution To US GDP Lowest In Post-War Era / by Tyler Durden on 03/27/2015 14:45

In “Underwater Homeowners Here To Stay” we highlighted a report from Zillow which showed that negative equity has now become a permanent fixture of the US housing market. The report also showed that the percentage of homeowners who are underwater was flat from Q314 to Q414, breaking a string of 10 consecutive quarters of declines. We also recently noted that a completely ridiculous new home sales print that defied all logic notwithstanding, housing data, including starts and existing home sales, has come in below expectations. On a side note, home price appreciation has outpaced wage growth at a rate of 13:1, to which we would add:

Of course, the biggest determinant of home price appreciation over the past 2 years has nothing to do with US consumers, or household formation, as confirmed by the collapse in first-time homebuyers or the unprecedented depression in new mortgage origination, and everything to do with what we first suggested is one of the main drivers of the US housing bubble – foreigners parking their illegally procured cash in the US and evading taxes, now that US housing, with the NAR’s anti-money laundering exemption blessing, is the new normal’s Swiss Bank Account. That and flipping homes from one “all-cash” buyer to another “all-cash” buyer in hopes of a quick capital appreciation and the constant presence of the proverbial dumb money.

Against this backdrop, Deutsche Bank is out predicting that a sluggish US housing market is likely to impact the supply of MBS going forward. As DB notes, housing isn’t the GDP contributor it once was and not by a long shot. Not only that, but when it comes to recoveries, the housing market’s GDP contribution was 7 times below its post WW2 average in year one and has fared even worse since. Here’s DB with more:


27/3/15: That Russian Liberal Opposition: Facts Piling Up… / by Constantin Gurdgiev / March 27, 2015

Recently, I wrote about the sorry state of the Russian liberal democratic opposition ( and Putin’s strong showing in public ratings. Here is another data set, this time reflecting this week’s data:

Q: Imagine that next Sunday there will be presidential election in Russia. Which politicians would you give your vote to? President Putin’s share of the vote:


Meet the Overseas Contingency Operations Account – Washington D.C.’s Crony Capitalist War Slush Fund / Michael Krieger / 

Senate Armed Services Committee Chairman John McCain has called it a “gimmick,” and Democrats complain that larding up the separate war funding bill with extra spending amounts to an “abusive loophole.” Yet so far, the massive increase is likely to remain in this year’s budget.

Another major criticism of the process has been its common use to fund favored projects and other items not directly tied to the war — a trend that has steadily grown over the years as the wars in Iraq and Afghanistan dragged on and the Pentagon loosened the definition of war-related spending.

From 2001 to 2014, nearly $71 billion of nonwar funding was provided through war appropriations, according to the Pentagon’s own definition, the nonpartisan Congressional Research Service reported in December.

– From the Politico article: War Budget Might be Permanent ‘Slush Fund’

Many people will read this post, and posts like it, and shrug their shoulders saying that there’s always going to be corruption. True; however, there are degrees of corruption. When empires such as the U.S. attain a certain level of corruption that reaches the point in which it becomes engrained within the fabric of society, and you couple that with zero accountability for the super rich and powerful, you have the ingredients for societal collapse. We are rapidly approaching this point, and I personally don’t think there’s any way to stop it.

The best we can hope for is to sound the alarm bells as loudly as possible right now, identify the culprits and their methods of systemic abuse so that when what Martin Armstrong calls “crash and burn” happens, we don’t respond counterproductively by elevating even greater sociopaths into positions of power (yes this is possible and as history shows, quite probable).

With all that in mind, I want to introduce readers to the Overseas Contingency Operations (OCO) account, or what is being referred to as the “war slush fund.” You know something’s bad when even Crazy John McCain calls it a “gimmick.”

From Politico:


Yemen “Gulf Intervention” Premium Erased, WTI Tumbles Back Below $49 / by Tyler Durden on 03/27/2015 14:36

Well that was a quick geopolitical event. On the heels of what was set to be Crude’s best week since July 2013, Stratfor clarifying little risk of disruption to crude supplies, Goldman confirming neglible impact from Yemen and more to Iran, and reports from Saudi Arabia that “this [Yemen] operation will not go on for long, I think it will be days,” WTI crude has tumbled back to the $48 handle and erased all the “gulf intervention” premium – refocusing on domestic storage concerns.


Gold Daily and Silver Weekly Charts – Non-Farm Payrolls Next Week / 27 MARCH 2015

Gold and silver were capped around the round numbers for the better part of the day, and took a little cheap shot in the after hours as they did in the early open in New York.

Bubbe Yellen spoke at the San Francisco Fed near the close, basically stirring the verbal pot for the Fed’s intended escape from the zero interest rate bound.

That the program has been a failure to stimulate the economy, instead fostering bubbles, speculation, and much greater wealth inequality while failing to encourage organic growth in wages and livable jobs is besides the point.

The wealthy and the Banks are doing great, and look forward to doing even better as they continue to consolidate production and acquiring income producing assets on the cheap and paying for them with inflated paper like stock and bonds.

I have included the economic calendar for next week below, because it is likely to be more of an influence on the metals. Especially so in light of Bubbe’s remarks about data dependency and the categories of data which she is setting her eyes upon.

The problem is much more than the Fed. The trade deals being negotiated, TTIP and TTP, are designed to continue to erode the power of people to make choices for their nation in terms of standards of living, social justice, child labor, environment, and so forth.

The bigger picture, which so few really understand, is the ongoing currency war, and the changes that are taking place to progress the post-Bretton Woods status quo. They cannot understand it because they have really known nothing else in their lifetimes, and their knowledge of history is highly selective and often wanting. They grasp on to often self-serving, crackpot theories to reassure themselves that change is not coming, and their pampered places are secure.


Utah Lawmakers Approve Execution By Firing Squad: “Faster and More Humane Than Botched Lethal Injections” / Mac Slavo / March 27th, 2015

Utah has become the first State to allow the execution of death row inmates by firing squad.

Governor Gary Herbert signed the new law after a close battle that ended in a 39-34 vote in the State’s House of Representatives. The law gives the governor the power to call for an execution by firing squad if hard-to-get drugs for lethal injection are unavailable.

Numerous states have suspended death sentences indefinitely citing difficulty obtaining the right drugs and the inhumanity of some lethal injection doses.

Utah, however, doesn’t intend to let death row inmates get away with murder:

The police force that guards the desert state of Utah will soon ask for volunteers from among its members for a particularly macabre duty.

Five-man firing squads are to be formed and trained in preparation for a move that critics say risks dragging America back to a ‘more barbaric past’.

Facing a crisis in the lethal injection system by which most Death Row inmates are normally executed, Utah’s leaders have just approved a solution that harks back to the violent spirit of its Wild West past.

The state has become the first to bring back the firing squad. Gary Herbert, Utah’s Republican governor, conceded that he found the concept ‘a little bit gruesome’, but stressed that it would be used only if injection drugs are not available 30 days before a scheduled execution.

Yet such a scenario looks increasingly likely. Thirty-two states still have the death penalty, and America’s Death Rows are clogged with more than 3,000 condemned prisoners because of a string of botched lethal injections. These have allowed lawyers to halt the scheduling of supposedly painless executions on the grounds that they breach a constitutional ban on ‘cruel and unusual’ punishment.


Police Gas Student Protesters In Quebec / by Tyler Durden on 03/27/2015 14:20

Earlier this week we reported that the Blockupy movement — supporters of which set fire to the streets of Frankfurt earlier this month in an anti-austerity protest timed to coincide with the grand opening of the ECB’s new headquarters — had apparently spread across the Atlantic to the streets of Montreal where students describing themselves as “an association of young communists and anti-capitalists” got tear gassed, sound bombed, and shot with rubber bullets after they failed to provide police with an itinerary as to what they planned to vandalize and when.

Just days later and aggrieved Canadian students are at it again, this time in Quebec City where hundreds gathered to protest austerity measures like shorter library hours. Here’s more from RT News:


5 Things To Ponder: Random Musings / Lance Roberts / 26 March 2015

This weekend’s reading list is a bit of a hodge-podge of reads on a variety of different topics. However, before we get into it I wanted to address an interesting statement by the Atlanta Federal Reserve President Dennis Lockhart who Thursday:

“Atlanta Federal Reserve Bank president Dennis Lockhart said on Thursday there was little risk of a misstep that would force the Fed to lower rates once it begins raising them.

The economy is in solid shape to weather the upcoming turn to tightening monetary policy Lockhart, said at an investment education conference in Detroit.

“‘Conditions are pretty solid,’ said Lockhart, who regards an initial rate hike at the June, July or September Fed meetings as a high probability. ‘I take the decision pretty seriously,’ Lockhart said. ‘Once we start, I want to be able to move deliberately towards higher rates.'”

This is a pretty common meme among the majority of economists as of late, and particularly surprising coming from the Atlanta Fed President considering:

  1.  The U.S. is currently more than 6-years into an economic recovery (long by historic standards), and;
  2.  The Atlanta Fed’s own GDP Now forecast is pegging a near 0% growth rate for the first quarter.

But let’s take a look at the decline in durable goods orders this week. Paul McCulley, the former legendary economist and fund manager at PIMCO, viewed durable goods a bit differently than the mainstream analysis generally given. He preferred the year-over-year trend of the 3-month moving average of core CAPEX orders as an indicator of broader economic activity over the next few quarters. If you are currently “bullish” on the direction of the US economy, you may want to take a closer look at the chart below.


27/3/15: Russia Goes for Fiscal Cuts: Amended Budget 2015 / by Constantin Gurdgiev / March 27, 2015

Russian Duma passed (in first reading) amendments to the Budget 2015.

The new Budget is based on average oil price of USD50 pb, with expected GDP growth of -3% against inflation of 12.2% and USD/RUB exchange rate of RUB61.5. These are major revisions to the base assumptions.

Forecast government deficit for 2015 has now widened from RUB431 billion (0.6% of GDP) estimated back in October 2014 to RUB2,700 billion or 3.7% of GDP.

Budget forecast that the economy will contract 3% (to RUB73.5 trillion or USD1.27 trillion) in 2015 is a sharp deterioration on October 2014 estimates for GDP growth of 1.2%. Still, this is very optimistic. Earlier BOFIT forecast Russian economy to contract by more than 4% in 2015 on foot of assumed oil price of USD55 pb, and the Central Bank of Russia estimated 4% drop in GDP for 2015 on foot of USD50-55 pb assumption. See latest forecasts for the Russian economy here and for external trade here:

In December 2014, budgetary forecasts were for GDP decline of 0.8% and inflation averaging 7.5% with oil at USD80 pb.


Black Swan 2: This Is “The Next Critical Chapter In The Austrian Banking System Story” / by Tyler Durden on 03/27/2015 13:48

When it comes to the sweeping of (trillions of) toxic assets until such time as the ECB starts purchasing not only government bonds but equities, bank loans and really anything else that in a normal world would have some “mark to market” value, Europe had a ready answer: bad banks. A tradition which started with Switzerland and the semi-bailout of UBS during the great financial crisis, “bad banks” have been proposed every time there are a few hundred billion in bad assets that need to be swept away or otherwise removed from the the public eye.

In fact, it was just a few hours ago that Spain’s economy minister praised the usefulness of bad banks, which have certainly seen their fair share of use in Spain over the past 5 years.


Yes, useful. Until you have a massive blow up like in Austria when several years of avoiding reality exploded in everyone’s face when the Bad Bank meant to fix the mess left after the collapse of Hypo Alpe Adria itself became insolvent, after the horrendous state of its balance sheet could no longer be masked, and creditors were shocked to learn they would foot the bail out, or rather bail in costs thanks to massive debt writedowns.

And since there is never just one cockroach when it comes to hiding Europe’s biggest financial problem, namely trillions in non-performing loans, the question always is: which cockroach is next?

For now the answer, thanks to the ECB’s relentless intervention in all capital markets is hiding, but one proposal comes from Daiwa Capital Markets which suggests to take a long hard look at Austria’s Pfandbriefbank Oesterreich AG.

Here is what Daiwa’s Jakub Lichwa thinks:



Good evening Ladies and Gentlemen:

Here are the following closes for gold and silver today:

Gold: $1199.80 down $5.30 (comex closing time)

Silver: $17.05 down 7 cents (comex closing time)

In the access market 5:15 pm

Gold $1198.60

Silver: $16.96

Gold/silver trading: see kitco charts on the right side of the commentary.

Following is a brief outline on gold and silver comex figures for today:

The gold comex today had a poor delivery day, registering 43 notices served for 4300 oz. Silver comex registered 68 notices for 340,000 oz .

Several months ago the comex had 303 tonnes of total gold. Today the total inventory rests at 248.27 tonnes for a loss of 55 tonnes over that period. Lately the removals have been rising!

In silver, the open interest fell by 629 contracts, due to short covering, as Thursday’s silver price was up by 14 cents. The total silver OI continues to remain extremely high with today’s reading at 171,441 contracts. The front month of March fell by 66 contracts to 146 contracts. We are still close to multi year high in the total OI complex despite a record low price. This dichotomy has been happening now for quite a while and defies logic. There is no doubt that the silver situation is scaring our bankers to no end.

We had 129 notices served upon for 645,000 oz.

In gold we again have a total collapse of OI as we enter the next active delivery month of April . The total comex gold OI rests tonight at 398,579 for a whopping loss 17,813 contracts. With June gold almost equal to April gold in price, it just does not make sense why so many would liquidate their positions.Today is options expiry for London’s LMBA gold and silver. On Tuesday we have the final options expiry and that is the OTC market. We had 43 notice served upon for 4300 oz.

Today, we had no changes in gold inventory at the GLD/ Gold Inventory rests at 737.24 tonnes

In silver, /SLV we had a huge withdrawal of 1.439 million oz of silver inventory leave the SLV/Inventory, at 323.888 million oz

We have a few important stories to bring to your attention today…


Misunderstanding “Peak Gold”; Gold About to Run Out? / Mike “Mish” Shedlock / March 27, 2015

Is gold about to “run out”? The correct answer to that question is the likelihood of that happening is precisely 0%.

However, that is not the conclusion one would come to from the Zerohedge headline Peak Gold? Goldman Calculates There Is Only 20 Years Of Gold Supply Left.

Zerohedge supplied a couple of charts.

Peak Gold


SP 500 and NDX Futures Daily Charts – Begin the Beguiled / 27 MARCH 2015

Stocks largely moved sideways on the weak economic data this morning.

After the bell it was revealed that Intel would like to purchase chipmaker Altera. The consolidation of industry continues.

After a largely directionless day, there was a little bit of a lift into the close as Chairman Yellen talked about the bias to raise interest rates for the purpose of ‘normalization,’ but slowly and with an eye on the data.

Nothing new here. The Fed wishes to get off ZIRP at least nominally to give themselves some policy latitude for the future and to widen the spreads and bets available to the Banks.

And so they are likely to ‘get her done’ and not blanch from the task until they start to blow up the real economy in a manner more overtly than they have already been doing through their distortions over the past thirty years or so.

The Fed is bank-centric. They are a creature of the Banks. Unfortunately so are the politicians, so the broader public may find themselves in difficult circumstances.

I doubt that this will change or improve until there is substantial discomfort felt by the ruling elite. Nothing new there. And the more vocal portion of the public, the twenty percent I like to think of as the ‘beguiled,’ will be busy trying to push each other under the bus as it were, and kick the other guy off the life raft, because that is much easier than facing the real issues of reform.