27 March 2012
SilverDoctors: Report: JPM Received $200 Million Margin Call 3 Da...
SilverDoctors: Report: JPM Received $200 Million Margin Call 3 Da...: Breaking reports state that JP Morgan received a $200 million margin call on London's LIFFE exchange 3 days prior to the MFG Bankruptcy over...
Countries Swapping Billions & Transferring Oil Ahead of War
With gold and silver surging higher recently, today King World News interviewed 40 year veteran, Robert Fitzwilson. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the Unites States. He told King World News that countries are engaging in currency swaps out of fear of being cutoff from international transfers. Fitzwilson also said gold and silver are getting ready for a major move. But first, here is what Fitzwilson had to say about recent developments: “Another development that’s been happening in recent days is swaps are being made. China and Australia just recently completed a $31 billion swap of their currencies. To me that’s tantamount to barter. These countries have essentially pre-positioned their currencies, probably because they are worried about being cutoff from international transfers.”
Robert Fitzwilson continues:
“Jim Sinclair has pointed out what is taking place with the SWIFT system. I would just like to add that SWIFT has now become a weapon in the currency wars and as Sinclair correctly stated, unfortunately the United States is now threatening other countries. We are saying if they do not do what we want, we will cut them off from SWIFT, which will effectively shut down their economy.
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Robert Fitzwilson continues:
“Jim Sinclair has pointed out what is taking place with the SWIFT system. I would just like to add that SWIFT has now become a weapon in the currency wars and as Sinclair correctly stated, unfortunately the United States is now threatening other countries. We are saying if they do not do what we want, we will cut them off from SWIFT, which will effectively shut down their economy.
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26 March 2012
Embry - Massive QE Near as System Moves Closer to Collapse
With gold moving towards the $1,800 level, up another $23 today, and silver closing in on $33, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management. Embry said Geithner’s comments prove that massive money printing is necessary in order to avoid a collapse. Here is what Embry had to say about the situation: “There is so much interference in the gold market. Because of that it will be interesting to see what price level will spark interest in gold again. I do think it’s important to recognize the news backdrop, the real news, not the constant babble that is coming out of the powers that be.”
John Embry continues:
“As an example, a Congressman Gowdy was questioning Timothy Geithner, in a Congressional hearing. It was interesting the way he asked one of his questions. He asked Geithner, ‘Let’s say we only have one more debt ceiling increase that would have to cover all of the future obligations, what number would that be?’
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John Embry continues:
“As an example, a Congressman Gowdy was questioning Timothy Geithner, in a Congressional hearing. It was interesting the way he asked one of his questions. He asked Geithner, ‘Let’s say we only have one more debt ceiling increase that would have to cover all of the future obligations, what number would that be?’
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Jim Sinclair - US Launches Economic War, Gold Reacting
Today legendary trader and investor Jim Sinclair told King World News that gold has taken a major step towards becoming the currency of choice when it comes to international trade. Sinclair also said the US has launched an economic war against key Asian countries and it is having an immediate impact on the gold market. Here is what Sinclair had to say about the situation: “Wall Street goes to war and the weapon is money. There was a day when we went to war and the weapon was an armada of ships. It was landing on Iwo Jima, mano y mano, it was bravery and honor. Today it’s dollars.”
Jim Sinclair continues:
“We go to war, challenging the other side to do the same because whatever you use as a weapon, the other side is going to tend to use as a weapon. The weapon that’s being used is the interbank transfer system, the way money is sent from bank to bank.
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Jim Sinclair continues:
“We go to war, challenging the other side to do the same because whatever you use as a weapon, the other side is going to tend to use as a weapon. The weapon that’s being used is the interbank transfer system, the way money is sent from bank to bank.
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SilverDoctors: Brics’ move to unseat US dollar as trade currency
SilverDoctors: Brics’ move to unseat US dollar as trade currency: The dollar's death by a thousand cuts is intensifying. South Africa is taking initial steps to replace the dollar with the renminbi as the ...
Richard Russell - Gold & Silver Being Bought Up By Billionaires
With gold remaining in a trading range below the $1,700 level, the Godfather of newsletter writers, Richard Russell, had this to say about what is happening with regards to gold, silver, stocks, inflation and the Fed: “Technically, both the US and Europe are dead broke, and their GDPs would have to run wild on the upside to make the debt to GDP ratio more acceptable. How will it all end? It will end with the central banks churning out junk fiat inflation-adjusted money in order to service the debts. Meanwhile, the precious metals and other tangibles are being bought up by millionaires and billionaires as they await their turns to feast on the remnants.”
Richard Russell continues:
“The fact is that the Fed is happy with 2% inflation each and every year. Compound 2% inflation year after year, and you know what's happening? -- you've effectively wiped out the middle class. Between inflation, stagnant wages, higher taxes, and no jobs, the middle class has hit the brick wall like a fresh egg hitting the trunk of a redwood tree.
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Richard Russell continues:
“The fact is that the Fed is happy with 2% inflation each and every year. Compound 2% inflation year after year, and you know what's happening? -- you've effectively wiped out the middle class. Between inflation, stagnant wages, higher taxes, and no jobs, the middle class has hit the brick wall like a fresh egg hitting the trunk of a redwood tree.
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25 March 2012
SilverDoctors: Silver COT Report 3/23/12
SilverDoctors: Silver COT Report 3/23/12: In what should come as absolutely no surprise to any of SD's readers, the commercials reduced their short silver futures positions a ne...
Pento - Ultimate Collapse & Real Reason Interest Rates Rising
Today Michael Pento accused the mainstream media of misleading the public once again. Pento, who founded Pento Portfolio Strategies, writes exclusively for King World News about the ultimate collapse and the real reason interest rates are rising: “The prevailing notion among the mainstream media and economists is that interest rates are rising because of improving economic growth. But like many of the readily accepted tenets of today’s world of popular finance, this too has its basis in fallacy.”
Michael Pento continues:
“Interest rates recently increased by nearly 40 basis points on the 10-year note since the first week of March and that is being offered as proof that the economy has healed and GDP growth is about to accelerate. But in truth the recent spike in Treasury bond yields is only the result of a temporary ebbing in the fear trade that brought about panic selling in Euro denominated debt, which had previously caused U.S. Treasury prices to soar.
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Michael Pento continues:
“Interest rates recently increased by nearly 40 basis points on the 10-year note since the first week of March and that is being offered as proof that the economy has healed and GDP growth is about to accelerate. But in truth the recent spike in Treasury bond yields is only the result of a temporary ebbing in the fear trade that brought about panic selling in Euro denominated debt, which had previously caused U.S. Treasury prices to soar.
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Art Cashin - Expect Chaos in Markets if War with Iran Begins
Today Art Cashin told King World News many people are concerned about history repeating itself in the form of sudden and sharp inflation. Cashin, who is Director of Floor Operations for UBS, (which has $612 billion under management), also said the Dow could see a 1,000 point move in a day if war breaks out with Iran. Here is what Art Cashin had to say: “I think what people are concerned about is there is an enormous amount of tinder, in that the LTRO in Europe put a lot of assets in the hands of banks who have temporarily parked it at the ECB. The same thing is true here in the United States.”
Art Cashin continues:
“The balance sheets of the various central banks have nearly tripled. Now, in history, that has often led to a rather sudden and sharp inflation. That’s what people are concerned about, will history repeat itself?
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Art Cashin continues:
“The balance sheets of the various central banks have nearly tripled. Now, in history, that has often led to a rather sudden and sharp inflation. That’s what people are concerned about, will history repeat itself?
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Caesar Bryan - Central Banks Aggressively Buying Gold
With gold trading $20 higher and silver solidly back above $32, today King World News interviewed 25 year veteran Caesar Bryan. Gabelli & Company has over $31 billion under management and Caesar Bryan has managed the gold fund since its inception in 1994. Caesar told KWN that central banks have been aggressively accumulating physical gold into weakness in the paper price of gold. Caesar went on to discuss silver and the mining shares as well, but first here is what he had to say about gold: “Well, there’s been a bit of a transfer from the paper players, those involved on the COMEX and in the futures market who have been liquidating. On the other hand, the physical buyers, including central banks, are stepping in to accumulate gold.”
Caesar Bryan continues:
“The central banks have been accumulating a great deal of physical gold at these lower levels. So there’s a bit of a tug of war going on between the futures market and the physical market. It’s really gut-wrenching what has taken place. Yesterday was a very disappointing day for some of my equity holdings.
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Caesar Bryan continues:
“The central banks have been accumulating a great deal of physical gold at these lower levels. So there’s a bit of a tug of war going on between the futures market and the physical market. It’s really gut-wrenching what has taken place. Yesterday was a very disappointing day for some of my equity holdings.
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Greyerz - Physical Gold Demand Enormous & Accelerating
Today Egon von Greyerz told King World News there is major demand for physical gold and it’s actually accelerating. Von Greyerz also said institutional money is going to aggressively enter gold and this will totally change the market. Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Here is what von Greyerz had to say about what is happening in the gold market: “We are seeing the low this week or we could be under pressure for another week. But thereafter, in April, if I look at the technical picture, gold looks fantastic. The next move will be a major move in both gold and silver.”
Egon von Greyerz continues:
“If I look at the physical market, we are seeing major demand and it’s actually accelerating. Again, we are looking at a paper market which is artificially manipulated short-term. It has no relevance at all for the gold market in the long-term.
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Egon von Greyerz continues:
“If I look at the physical market, we are seeing major demand and it’s actually accelerating. Again, we are looking at a paper market which is artificially manipulated short-term. It has no relevance at all for the gold market in the long-term.
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Fleckenstein - Bernanke Dead Wrong About Gold Standard
Today Bill Fleckenstein, President of Fleckenstein Capital, told King World News that Fed Chairman Bernanke clearly does not understand the business cycle we are in and his comments about the gold standard are wrong. Here is what Fleckenstein had to say about the situation: “When Bernanke speaks or Greenspan speaks, basically I just ignore them because they are the architects of the current problems that we have. The average person has no clue that the root of almost all of these problems we face is irresponsible money printing on the part of the Federal Reserve.”
Bill Fleckenstein continues:
“I read that Bernanke said the gold standard was a bad idea because it didn’t allow the flexibility that he perceived we needed to have in order to engineer us out of trouble. The man clearly does not understand the business cycle.
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Bill Fleckenstein continues:
“I read that Bernanke said the gold standard was a bad idea because it didn’t allow the flexibility that he perceived we needed to have in order to engineer us out of trouble. The man clearly does not understand the business cycle.
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