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Sp, No glazed look on MY face when I go to Walmart. I'm the one with a scowl on my face as I look at their grocery prices. And Walmart has - with a few exceptions - the cheapest grocery prices in town.
Think I mentioned it before... In a March of this year interview former Assistant US Treasurer Paul Craig Roberts said "There will come a time when Americans walk into Walmart and think they walked into Neiman Marcus [price wise".]
Re. the 28. cap - I'll try lightening up a bit : ) I must have just returned from Walmart.
WC, thanks for the information with links. It seems Cyprus' sale of gold was part of its mandated loan financing deal .... which was perfectly timed with other events to stop the gold rally.
Yep, now the economic manipulators world-wide operate using their own set of rules & laws.
And 99.99% of folks here in the USA aren't aware precendents that will likely affect their lives greatly are being established in Europe at this time. Eventually some version of the ongoing Cyprus events will land on our shores.
Sp, think it was 27. The attempted capping at any price is another of dozens of illegal manipulative band-aids. It's sad that initial manipulation of a quasi free (gold&silver) trading market over a decade has led the manipulators from unethical to unlawful practices.
Once it's realized the extent Too Big to Fail banks and governments will go to to sustain themselves it'll be too late for average citizens to protect their paper financial assets via physical gold&silver.
wer123, It's apparent all countries involved in QE
want to do whatever is possible to suppress the price of gold&silver as a means of keeping confidence in their fiat currencies. This certainly includes the U.S. and Japan as they are the largest in the QE business.
In Cyprus' case Cypriots are scared s**tless about the seizure of their deposits and if not stopped could drain their banking system of liquidity in order to buy gold.
EU banks are basically insolvent and scared the Cyprus thingy will cause further runs on their banks so it seems reasonable EU central bank officials are involved in Cyprus officials' attempt to make phy' gold appear to be a poor buy.
It's no surprise that officials in Cyprus AND the EU want to make physical gold look like a bad investment.
wer123, so the Japanese central bank or/and its proxies is selling gold ... and issuing a forecast of lower gold prices. If so, it's strategy is the same as the US Fed. - suppression of gold&silver prices while engaging in QE On Steroids.
A few days ago I mentioned they/cartel had silver capped at 27. Well that didn't last long. lol In a King World News interview
"Incredibly Important Developments in Gold and Silver Markets" Dan Norcini says there's a major war going on in gold&silver between two titans - the heavily shorted hedge funds attempting to suppress prices against big money rapidly leaving Japan (due to their huge QE program) looking for safety. Good read. http://www.kingworldnews.com
The article ought to be up a day or two. You might have to scroll down a bit.
Looks like they've capped silver at $27
for the time being. Any analysis ought to be aimed at understanding why they're capping it at this level -
* making silver cheap/er so dollars look strong & safe (which is a crucial part of keeping confidence that things are OK ? * covering short & naked short positions ? * purchasing of physical silver with shorted profits ? *
Understanding the why of capping artificially low might give good information about how close it is to major changes in the dollar's value...and sustained stronger gold&silver prices.
I'm getting an uneasy feeling that sustained increases in silver pricing might not happen until immediately after the SHTF.
Sp, Stockman gives us an all too accurate version of Cliff Notes on the history and present condition of our economy - all too accurate because coming from a person with his credentials makes it scary as hell.
RUN ! FORREST RUN !!! Gump got away from the guys chasing him by running fast. But us ? There's no where for the average American to run and escape what's coming.
Hopefully we can lessen the the negative impact of the wreck with real money i.e. silver & gold but I'm sure well need more than S & G
but it's a good start.
Why Fed. is capping the price of gold
is explained by former Assistant of the Treasury Dr. Paul Craig Roberts on King World News Blog " Former US Treasury Official - Fed Desperate to Save System
Dr. Roberts explains in detail the suppression of gold pricing.
SP, Texas Precious Metals - nice - Thanks for posting about it.
SP, what's currently happening in gold & silver is a part of the grand illusion foisted on us that economies are OK - just struggling a bit before moving onward and upwards.
Still hear Maloney's words regarding present currencies (and I assume economies) which are supported by confidence It's just that we're all dreaming the same dream (our currency is valuable) and if we quit dreaming the same dream it all falls apart.
As you've pointed out, the events that control silver pricing always take the opposite effect than they should. When reasonable logic is
always wrong it ain't hard to figure out the market is manipulated to the extreme. Ted Butler says the longer silver is manipulated down the faster & higher it'll go when people figure it all out and rush to buy.
wer123, Latest note from Jim Sinclair says the Western banking sector are sending paid bashers to all pro-gold sites. This is to counter the weakening Western banking sector. I'm guessing this is also to slow the currency run on banks caused by the Cypress theft
where much of the withdrawals are going into physical gold.
I assume the above is also a template for silver. The old adage *it's always darkest before the dawn* might be in order for what's happening in gold & silver.
PS...the USPS recently sent a package for me to the wrong address - admittedly their mistake - went back and got it and finally got it to me. Hope they can do the same for you.
Sp, There are so many things to take from the still unfolding events in Cyprus. Maybe most important is that the veil has been removed from Western governments and Central Banks showing they'll do outright theft of citizens money.
Wonder what it'll take to wake up folks to the facts their currency is at tremendous risk of being devalued to nothing or outright stolen from them.
The general trend of $ilver has been down for many months and this latest price take down could? be another small piece of the total take down.
Again, seems possible the price could go significantly lower in order for those with short positions to cover at prices favorable to them.
Blood of 'lightweights' in and out of margin accounts isn't running deep enough in the streets for me to buy yet.
WC, it looks like those in control of silver pricing still have the ability to move the price where they want and with their huge short position it seems reasonable they'll eventually drive the price low where they'll cover before driving it up and through the old high.
Been saving since Oct. of last year for this time to buy more if it happens. But what do I know about their logic ?
PS..earlier this winter I went through 2,000 half dollars and found 5
40%ers. My bank really didn't want them back but took um and re-wrapped them. Don't know if they could send them back to the Fed' and I haven't asked. It's a small locally owned bank and I figure it had some expense involved in this so I'm hesitant to ask them again.
As always Willie lays it on the line - this time giving a long term scenario of what will likely happen and how it will happen. He's not always correct on every detail as there are so many possible variations on how to arrive at his predicted destination/state of U.S.
economy.
The great thing to take home from this essay is that 'business as usual' will have a sizable negative transition from where it currently is to something much less desirable and there is still time for individuals to prepare.
SilverEagle, there's some chance of a significant change in silver pricing soon. However, reasonable and logical price direction estimates though are worthless with the current gangster cartel in control.
ChartSeeker.com's live feed ended with an unusually high 30 cent bid-ask spread (28.42-28.72) so it might? be interesting to see what happens with this (Sunday) evenings' early trading.
WC, some analysts (Peter Shiff, Jim Sinclair, James Turk, etc., etc.) are recommending getting out of paper currency and into gold&silver. Most IRAs and other retirement accounts are paper. Cashing out gets penalties but taking a hit can be mitigated by rolling into IRAs allowing certain types of physical gold. After the Cyprus thingy (which hasn't been completed yet) the number of these analysts will no doubt grow. I'll be a tough call and I wish you well.
Re. silver's future price movement I'm getting the feeling that before we see the really big $ up move a sizable supply shortage will need to occur and I don't know when that will happen. What I think I know is eventually things won't end well and there will be periods of time we'd be better off with physical gold&silver plus essential living rations.
While it's all guesswork the present direction of economic & financial matters is plain. As past history shows, these negative trends gain speed toward the end.
SP, you've noticed medical cost being high too : ) Couple of years ago I got low on sodium and spent 5 days in a 'non profit' hospital. Only treatment was a saline drip (while they ran up the cost with various tests to pad the bill imo). Saw the hospital doc one time during my stay while 4 other doctors came in my room to give me their business cards. My bill was $24,500. What a racket !
Couple real inflation, real unemployment numbers, U.S. alleged debt @ $16+ trillion - really $200+ trillion when entitlements are added and the example of governments' attempted theft of currency in Cyprus and we have a great case for buying & holding gold&silver. When will more folks catch on to what's coming ?
WC, Pretty much my sentiments too. There are lots of possible scenarios re. what circumstances will take silver much higher - most of them outlined by Ted Butler ... but one crazy one I wonder about. IF gold can escape the clutches of the cartel in a Big Time way I'm curious as to what benefit to the cartel it would be to continue suppression of silver ? Just a naive thought.
wer123, keeping enough cash on hand to pay for very necessary things for a couple or three months is a good idea. I try : )to keep this much available outside of my bank.
Those with money exclusively in paper accounts of all types might consider diversifying some into phys' precious metals & enough cash to run on for at least a couple of months.
SP, The story of what's happening to Cyprian and Russian money in Cyprus is interesting - like the start of a gangster novel. But out of this ongoing real story a couple of items occurred to me.
It's important to see how far central banks and governments will go to support themselves.
Deposits of currency are much easier to confiscate than physical gold put in a safe place by an individual.
SP, couldn't help notice the article referred to the Arizona lawmakers as doomsayers : ( - typical news media covert slander of anyone wanting to hedge their financial future with precious metals. To the article's credit it does rightfully note that this kind of (precious metals) currency has been used throughout the history of mankind.
I've never seen mentioned by anyone but the use of gold & silver
as money would put a big hurt on Western governments' efforts to secure more financial and personal control over individuals by imposing electronic currencies. Ring up a big plus for use of gold&silver as currency money ! Noting other advantages of precious metals as currency I see in Jim Sinclair's comments about the ECB & World Bank's efforts to confiscate big time Russian money via their Cyprus currency grab that the Russians will likely divest their currency holds in Cyprus by buying physical gold. (Mark up another plus for holding physical gold..and silver).
This piece has other things worthy of discussion : )
Toofuzzy, you're on to something re. stimulus monies. Problem is..real stimulus is difficult to impossible to define and identify within the trillions & trillions of dollars printed/conjured up. Seems whatever "stimulus money" that might have been created was either diverted from effective use or was a code word for getting it to the banks.
According to this article virtually all fiat currency went to too-big to-fail banks. http://www.goldstockbull.com/articles/federal-reserve-secret-bank-bailouts-topped-16-trill/.
It's apparent the public has been and still is systematically kept from enough factual economic information to make the best choices with their investment money. If they were fully informed no doubt there would be more holding phys' gold & silver.
Re. the grab of Cyprus money, when Russian KGB monies - the amount was VERY sizable - was relinquished for use to a Russian quasi free market a few years back most of the (KGB) fund was deposited in Cyprus. Jim Sinclair says 80% of the 10% money grab is old RUSSIAN KGB money and former KGBer Putin has to be really !!! really !!!!! pissed and one person you do not want to F is Putin ! Unless the terms of this money seizure are very modified Sinclair expects big time Russian retribution.
Russia's response to 'theft' of their money is already popping up this morning - how about a Russian Naval Base in Cyprus.
So what does the above have to do with precious metals ? Sinclair says it's very likely to effect gold pricing so stay tuned : ))
WC, You're right. In broad terms past & present politicians put this country in deep do-do debt which brought on daunting challenges as to how we could get out of this debt.
Then, with the worst possible timing folks elected a president hell-bent on redistribution of wealth who isn't worried about debt.
While Obama fiddles with his recreation of U.S. wealth fairness our country with it's once sizable & affluent middle class burns.
Too bad more middle classers don't see what's happening and buy phys'
precious metals.
Yep, you're right 0ne4theroad. The root of the USA's financial problems are varied and not primarily caused by the Big Banks. If my memory serves me correct it was our liberal politicians like Barney Frank that demanded, then enticed Big Banks, Fannie May, etc. to supply everyone who ever dreamed of owning a home - whether they could afford it or not - the financing and blind eye re. credit history to go deep into debt.
The root cause of the housing bubble can be given to our politicians.
Of course the bankers who made those fabulous $$$$ bonuses doling out the mortgage monies knowing their customers would default aren't to blame.
wer123, good observations. There are lots of downsides to eliminating small/er competitive businesses (as far as the public's welfare is concerned) - lack of competitive pricing, negative motivation to innovate , less widespread job creation throughout the country with generally less total jobs available. However, the biggest negative appears to be much less individual businesses to control making it easier for a government streaking towards socialization to gain total control of businesses.
Along this line there's little doubt our President and liberal cronies would like to officially nationalize the banking system in this country. A friend of mine (bank president & former back examiner born poor and raised in Stinky Pinkie's neck of the woods :) told me the collapse/failure of the Big Banks would likely bring down all banks. What a perfect time it would be to nationalize banks considering the masses' demands for a quick government fix. Apparently we are dangerously close to this happening
according to many writing on the subject.
Folks ought to consider buying physical silver&gold and at least try to protect their future welfare.
SP, Until I learn differently, the causes of this country's financial problems are diverse and to some extent unavoidable. However, past & current Congresses and Presidents can take credit for cementing root causes of our huge debt and the negative things that come with an insurmountable debt. Term limits ought to have been carved in stone 200 years ago along with an iron clad and upheld law against a private central bank.
Seems there is no way for a country to become immensely wealthy and permanently sustain a wide lead over other countries.
SilverEagle, If people woke up from our government's sponsored sleep-dust media propaganda and really understood how close massive bank failures are they'd be rushing to buy gold and silver. The only thing keeping Western banks alive is the TRILLIONS in "free" money given away by the U.S. Fed. One ought to at least question how long this free-money-scheme can remain effective. A domino type failure of the propped-up banks would/will bring disaster to most of the world's economies. To highlight this .....
In our beloved U.S. Attorney General's testimony to Congress Eric Holder said some banks are too big to prosecute for laundering illegal drug money because it would bring irreparable harm to the national and world economies. That's it - our national economy is SO near coming unglued we have to ignore the biggest economic crimes. But hey ! Ted Butler has been writing about JP Morgan's illegal activity and our government's CFTC blind-eyed see no evil speak no evil do nothing stance for months & months.
one4the road, your experience with EBay is a reminder that integrity
isn't what it used to be. The rapid loss of ethics & integrity is systemic with our government leading by example. History is replete with stories about the moral decay of countries and what subsequently happens.
one4theroad, good advice to avoid SGT (or have jam-up good computer protection). Recently SGT said they got these issues cleaned up - didn't say how many precious times they got things cleaned up ))
For any wanting to listen to the Jim Willie interview I think it can be accessed via usawatchdog.com. Willie comes from a different direction than Jim Sinclair that gold has a great future and both seem to think it probably won't be long before good things happen.
Stinky pinky, try Googling "Staggering Bullish Indications for Gold"
and you ought to see it top of the results. I did load my post with what I thought was the right link, tested it after clicking the Submit Post button, saw it was bad and deleted it. My apologies to you and the others for regularly getting my links incorrect.
This is an interesting interview.
jt6455,exactly right.What an immoral government condoned racket !!! Jim Willie's interview at sgt.com says how they do it ~~~> naked short = lower price and with cash proceeds from short sale they buy physical gold/silver. If we did it we'd be in prison.
Jim Willie interview on SGT.com
Willie discusses Gold Finance Committee's agreed future silver & gold prices....mentions platinum.... alludes to China's already instituted gold standard with trading partners (my insert- which might explain S. Korea, Japanese, Kazakhstan, Russia, central banks loading physical gold)...banks laundering of drug money keeping their doors open...Willie's usual startling info'
WC, In the short term gold & silver might? go lower. The cartel probably has a trick or two up its sleeve. However, two real pros James Turk and Jim Sinclair think a bottom is in for gold. Turk hedges a little bit saying both are in a base but Sinclair seems sure a gold bottom is in. Read the first article presently on Sinclair's web site written by him GOLD WAR RAGES AS BULLS AND BEARS CONTINUE TO BATTLE http://www.jsmineset.com
For the intermediate term Sinclair's reasoning seems informed and logical re. gold. While silver will likely ride gold's (intermediate) coattails and then some it is a tiny market compared to gold and much easier to manipulate. Someday lack of silver supply will meet tremendous demand and I want to be aboard the rocket ride. ))
wer123, re our government's inflation numbers it seems it's just one part of an effort to build an entire fantasy world to keep the natives quiet. Government is in the process of striping the Constitution and Bill of Rights to the bare ground without a majority protest. However, show folks valid numbers (i.e. accurate inflation rates) that threaten their future ability to meet basic needs like lodging, food & clothing and they will become more restless and prone to vote incumbent politicians out of office.
Re. the Bloomberg Is the Gold Bull Market Dead TV spot,
basically her piece was bla bla bla written by some script writer to fill space for a couple of minutes. So much worthy but dark & heavy information - not good for enticing viewing audiences to return for more Bloomberg - wasn't mentioned. Her segment amounted to a bit of rambling, narrowly focused trivia.
A day or so ago Brother JohnF alluded to silver's 26.5 area being retested if it broke 28.3. Early this morning silver touched 27.95. Still wondering if the cartel might be aiming at lower prices in an attempt to help their short covering ?
True story....my father was employed at a small N. Central Texas bank way back when one could redeem currency for gold coins. He told me about a customer who made weekly (paycheck) deposits taking a portion of it in gold coins. As far as anyone knew he had no relatives when he died and the gold coins were never found. Dad said he thought the fellow hid them somewhere on his property which was several acres on the side of a rocky, heavily wooded area next to what's now a very private lake.