Leeb - Expect $6 per Gallon Gas & Huge Surge in Gold & Silver

Today acclaimed money manager Stephen Leeb told King World News that investors need to prepare for $6 per gallon gasoline, instead of the $5 we are currently seeing. Leeb also said tremendous inflation will cause gold and silver to begin a major surge to the upside which will take both of them to new highs. Leeb is Chairman & Chief Investment Officer of Leeb Capital Management. Here is what he had to say: “Gold rallying is a recognition that virtually every large economy in the world is reflating. It’s a situation where a lot of money is being pumped into the financial system and every country in a race to the bottom with regards to their currencies. Interestingly, gold is moving higher with the yen moving lower. Of course the yen is moving lower because of aggressive Japanese monetary stimulation.”

Stephen Leeb continues:

“The Chinese lowered their reserve ratios again and they will probably follow with lower interest rates. The US continues to discuss further monetary easing. The problem is now we have Brent Crude Oil near the $121 level, not too far from its all-time high of $140.

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BIX WEIR: Silver More RARE Than Gold - Are Fulford & Wilcock Correct?

Part 1 of 2. SGT talks to Bix Weir of RoadtoRoota.com about the $6 TRILLION in seized Bonds, the Ben Fulford and David Wilcock information and the mounting evidence that there are stores of gold on the planet which have never been revealed, making SILVER far more rare and precious than the yellow metal. Guess what?! The world is waking up and the idea of Liberty is more popular than ever.


Part 2 of 2. SGT talks to Bix Weir of RoadtoRoota.com about the very real possibility of a Spring 2012 financial CRASH. Bix is predicting that it could come in the March - May 2012 timeframe. Bix also predicts that the good guys are working to ensure Ron Paul stays in the race and makes it all the to the White House to restore our Constitutional form of government. Guess what?! The world is waking up and the idea of Liberty is more popular than ever.

SilverDoctors: Greek 1 Year Bond Hits 770%

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Inflation Nation: U.S. is on Crash Course with Arithmetic

Greece "rescued" as Europe forges a deal/Gold and silver advance in price/4.2 million oz of silver standing in Feb

Tuesday, February 21, 2012

Good evening Ladies and Gentlemen:

Gold at a good day rising by $33.30 to $1757.80 by comex closing time. Silver also had a stellar day rising by $1.21 to $34.41. As many of you heard the European summit announced a "settlement" on the Greek bailout. I will go over details in the body of my commentary. But first let's have a look at comex gold and silver details.

end

The total gold comex open interest fell by 885 contracts today with a reading of 439,791 and Friday's level of 440,676. The reading today is of course basis Friday. The front delivery month of February saw its OI fall from 376 to 346 for a loss of 30 contracts. We had only 6 delivery notices filed on Friday so again we lost 24 contracts to cash settlements. It seems that many contracts were settled by the bankers this month with fiat bonus cash. The next delivery month is April and here the Oi fell from 238,397 to 235,877.
The estimated volume today was very good at 191,974. The volume is understandable due to the President's day holiday so we had two days of pent up demand. The registered volume on Friday was very tame at 129,945. It certainly appears that the comex is losing some business to London England.

The total silver comex continues in its very narrow width of OI. Today's reading was 106,962 a fall of 308 contracts from Friday's reading of 107,270. The front month of February (an option's expiry month only)
saw its open interest fall from 217 to 130 for a loss of 87 contracts. However we had 124 deliveries on Friday so again we had an increase in silver ounces standing by 37 contracts or 185,000 oz.
This Friday, I believe options, and the Feb. silver contract, go off the board. First day notice will be on Feb 29.2012. Delivery notices will be filed late on the 28th of February. The front delivery month of March
has its OI registered at 29,314 falling by about 1700 contracts from Friday's level of 31,030. The contraction in OI has been smaller than in other months as we enter the first day notice. The estimated volume today was quite good at 80,505 whereas on Friday, the volume was also good at 51,079.

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SilverDoctors: COMEX Warehouse Silver Inventory Update 2/21/12

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Greek Tragedy turns Comedy with Troika document leak, as Obama's Boeing PR Crashes in Wichita

Silver Update 2/21/12 Greece or Iceland

Pento - Money Supply & Inflation Exploding Around the World

February 22, 2012

Today Michael Pento told King World News that money supply rates and inflation have been exploding around the world. Pento, who founded Pento Portfolio Strategies, also said with currencies burning, global investors need to protect themselves. But first, Pento had this to say about the Greek situation: “The Greeks have done the correct thing. The fact that they have written down their debt is a step towards an explicit default. What they have done in Greece is something they need to do in Italy, Portugal and Spain. When you take down your debt as a percentage of GDP, the way the Greeks have, you will cause a short-term depression.”

Michael Pento continues:

“But at least the Greeks have explicitly defaulted on their debt. The Italians, Spanish and Portuguese should follow. But instead of allowing that to occur, they (central planners) have resorted to the ECB doing a massive counterfeiting scheme in an attempt to bailout insolvent nations.

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Nigel Farage - Catastrophe Imminent & Gold to Break $2,500

With Europe desperately trying to stabilize Greece, today Nigel Farage told King World News that, despite the bailout, downside risks in the banking system are still enormous. He also said a modern day catastrophe is about to occur. But first, here is what Farage had to say about the ongoing crisis in Greece: “I want to just share with your listeners, Eric, the state of things in Greece. We have 50% unemployment amongst young people in Greece. 25% of all commercial companies have gone bankrupt in Greece in the last four years. We have now thousands of people in Athens literally sleeping in cardboard boxes in the streets. We have families giving up their kids for adoption because they feel they (the children) would be better off if someone else looked after them because they simply can’t feed them.”

Nigel Farage continues:

“Let’s empathize with these poor people in Greece. We (the EU) are driving them into something that is truly appalling. We saw two weeks ago those television pictures of buildings in Athens burning and 80,000 people outside the Greek Parliament, literally storming the Parliament trying to get in.

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Rule - Greek Bailout & What it Means for Gold

February 21, 2012

On the heels of a Greek bailout, which has gold trading more than $20 higher and silver back above $34, today King World News interviewed Rick Rule, CEO of Sprott USA. Rick spoke with KWN about what has just taken place with Greece and what it means for gold. Here is what Rule had to say: “I don’t think Greece was bailed out, I think the banks that were stupid enough to lend Greece money were just bailed out. They have talked about an injection of fresh cash to maintain Greek living standards. Simultaneously, they have announced fairly aggressive cuts.”
Rick Rule continues:

“They are aiming at slashing the debt to 120% of GDP by 2020. This means if you believe that all of the assumptions they made are correct, then Greek debt will go from unserviceable to barely serviceable by 2020. It’s important to remember that the people who are making these assumptions are the same people who made the decision to lend money to Greece in the first place. This lending has Greece 160% in debt vs their GDP.

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SilverDoctors: Gold & Silver Break Above Cartel Cap

SilverDoctors: Gold & Silver Break Above Cartel Cap: Gold and silver have just burst through the firm cartel cap that have held the metals in check under $1750 and $34 for the past 2+ weeks. ...

Gold Speaks Up

By Jeff Clark, Senior Precious Metals Analyst

Have you ever had any doubts about gold? Does it sometimes feel like it should be performing better? Are you concerned about its volatility? Do you worry about how it might perform in the future? Have you ever wondered about its true purchasing power? Maybe nervous about a big drop in price again? I decided to go directly to the source to address these concerns: Gold himself. He put his arm around me and asked me to tell you a few things…

I hear that you've had some worries about me. I understand. Your world is a very uncertain place right now. And when it comes to money, it looks as though your leaders don't understand some basic monetary principles, making things even more unsettling.

But I want you to know that the problems you're experiencing are actually nothing new. I've seen these monetary, fiscal, and economic difficulties many times before. And I can tell you this: you're safe with me. That's a bold proclamation, but I've provided monetary protection numerous times throughout history – too many to count, in fact. I've served all kinds of people over the centuries, from kings and counts to serfs and servants.

To put your mind at ease, let's review my core characteristics, along with some history, to show how I can protect you against the monetary danger that's likely to worsen in your near future. We'll also take a look at your peculiar set of circumstances to see how I can be of service. By the time we're done, I think you'll feel much better about my ability to help your portfolio withstand whatever is thrown its way.

Enduring Characteristics

Let's start with the basics. I have some characteristics that no other matter on Earth has…

I cannot be:

Printed (ask a miner how long it takes to find me and dig me up)
Counterfeited (you can try, but a scale will catch it every time)
Inflated (I can't be reproduced)

I cannot be destroyed by;

Fire (it takes heat at least 1945.4° F. to melt me)
Water (I don't rust or tarnish)
Time (my coins remain recognizable after a thousand years)

I don't need:

Feeding (like cattle)
Fertilizer (like corn)
Maintenance (like printing presses)

I have no:

Time limit (most metal is still in existence)
Counterparty risk (remember MF Global?)
Shelf life (I never expire)

As a metal, I am uniquely:

Malleable (I spread without cracking)
Ductile (I stretch without breaking)
Beautiful (just ask an Indian bride)

As money, I am:

Liquid (easily convertible to cash)
Portable (you can conveniently hold $50,000 in one hand)
Divisible (you can use me in tiny fractions)
Consistent (I am the same in any quantity, at any place)
Private (no one has to know you own me)
I am internationally accepted, last for thousands of years, and probably most important, you can't make any more of me.

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Silver Price Could Double by Year End

BY: Jason Hamlin

Were you cursing at your computer screen when silver nearly tripled during the short 9 months from September 2010 to May 2011? Silver at $20 seemed like an insurmountable threshold for quite some time. This caused many silver investors to give up just prior to the ascent, completely missing the ride towards $50. I believe silver is about to offer a similar ride. While it is unlikely to match the 180% advance mentioned above, look for silver to make new highs in the coming months, with the potential to double to $65 by year end. Following the record gains in silver during late 2010 and early 2011, the metal crashed towards $25 and has since rebounded to around $33. Investor sentiment has crashed along with it. The threat of Euro nations defaulting, banks announcing they are, well, bankrupt, and a series of other factors have scared away many of the Johnny-come-lately silver bulls. I think too many investors are underestimating the power of the central banks. While I agree they are running out of options, it seems that their ability to kick the can down the road has yet to expire. Given that the United States is heading into election season and President Obama is in full campaign mode, I expect the administration to pull out all stops in order to continue the illusion of economic prosperity a while longer. Every economic fire of consequence is being extinguished with fresh liquidity, more funny money or new legislation. In case you missed it, QE3 has been in full force for quite some time, albeit executed in a somewhat stealth manner. The implications for silver (and gold to a lesser degree) are going to be incredibly bullish. Absent a deflationary sovereign default that spirals out of control and takes down major banks with it, stocks will continue to creep higher in volatile trade throughout the year. Once fear begins to subside, look for precious metals to come roaring back to new highs by mid-year. Whenever the next financial crisis finally hits, we are likely to witness a new injection of quantitative easing that is even stronger than what transpired in 2008.

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Keiser Report - Episode 252

­In this episode Max Keiser and co-host, Stacy Herbert, discuss London bars and cafes introducing Facewatch for criminals on the lower ladder of crime while Mayoral candidate, Ken Livingstone, proposes an altogether different solution to end the banking crime wave higher up the ladder. They also discuss Greek heists and tweets from Syntagma Square. In the second half of the show, Max talks to Zeus Yiamouyiannis about Greek tragedies and Greek solutions.

Reformed Broker on the Financial Virtues of Entrepreneurship, Bankruptcy and...Plastic Surgery?

Silver and Opium

by Antal E. Fekete – Professor Fekete.com
Originally published February 20th, 2011

The opium wars do not belong to the glorious episodes of Western history. Rather, they were instances of shameful behavior the West still has not lived down. Mercantilist governments resented the perpetual drain of silver from West to East in payment for Oriental goods (tea, silk, porcelain) that were in high demand in the Occident, facing low demand in the Orient for Occidental goods. From the mid-17th century more than 9 billion Troy ounces or 290 thousand metric tons of silver was absorbed by China from European countries in exchange for Chinese goods.

The British introduced opium along with tobacco as an export item to China in order to reduce their trade deficit. Under the disguise of free trade, the British, the Spanish and the French with the tacit approval of the Americans continued sending their contraband to China through legitimate as well as illegitimate trade channels even after the Chinese dynasty put an embargo on opium imports. Because of its strong appeal to the Chinese masses, and because of its highly addictive nature, opium appeared to be the ideal solution to the West's trade problem. And, indeed, the flow of silver was first stopped, and then reversed. China was forced to pay silver for her addiction to opium smoking that was artificially induced by the pusher: the British.

Thus silver was replaced by opium as the mainstay of Western exports. In 1729 China, recognizing the growing problem of addiction and the debilitating and mind-corrupting nature of the drug, prohibited the sale and smoking of opium; allowing only a small quota of imports for medicinal purposes. The British defied the embargo and ban on opium trade, and encouraged smuggling. As a result, British exports of opium to China grew from an estimated 15 tons to 75 by 1773. This increased further to 900 tons by 1820; and to 1400 tons annually by 1838 -- an almost 100-fold increase in 100 years.

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Silver Update 2/20/12 Professor Fekete

SilverDoctors: Eurozone Reaches Deal on 2nd Greek Bailout

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Norcini - Crude Oil Breakout to Carry Gold & Oil Much Higher

With oil breaking above the critical resistance level discussed in the KWN Weekly Metals Wrap over the weekend, today King World News interviewed legendary Jim Sinclair’s chartist Dan Norcini. Norcini had been talking about the critical $105 level in Saturday’s interview and here is what Norcini had to say now that oil has broken out to the uspide: “Oil has broken above the critical $105 area of resistance. If we can get a couple of closes above $105 we should see a substantial spike higher in the price of crude oil. The next move should take crude $10 higher to the resistance area at $115.”

Dan Norcini continues:

“It is worth pointing out that we are not even in the heavy usage time frame and it has been a relatively mild winter. So we are now in between the heating oil consumption months of winter and summer driving demand, and yet here we are with crude oil breaking out and threatening a move to the $115 area.

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Eveillard - Fear of Contagion, This is the End of the Road

Today legendary value investor, Jean-Marie Eveillard told King World News that fear of a contagion is building and we are at the end of the road. Eveillard, who oversees $50 billion at First Eagle Funds, had this to say about the situation, “Well, what’s happening is that the Greeks are trying to convince the Germans that the German taxpayer should subsidize the Greeks, and the Germans are reluctant to oblige. At the same time, in Europe nobody wants to see a country, even a country as small as Greece, leave the eurozone because there is a fear that there will be contagion.”

Jean Marie Eveillard continues:

“If the Greeks leave the eurozone, then maybe Portugal will. And if Portugal leaves, then maybe Spain and Italy would be under attack. The big problem, of course, is the solution would be a European government. I mean the initial mistake twelve years ago was to have a monetary union, but not a fiscal union.

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David Morgan - Myths and Misinformation in the Silver Market

SilverDoctors: Eric Sprott: Silver Will Become a Currency Again

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Silver Update 2/20/12 ECB Exit

Greece updates/Iran/High amounts of physical silver standing in February/

 
Saturday, February 18, 2012

Good morning Ladies and Gentlemen:

The boys decided on Friday that a raid was necessary and their motive is to try and quell physical demand for our precious metals.   The global financial scene is rapidly deteriorating and all citizens realize their paper currency is nothing but paper and seek the safe haven of physical gold and silver.  Bank runs are occurring daily especially in the weaker PIIGS nations.  The country welcoming their deposits is Switzerland who then take orders from the depositors to switch to gold and hold that metal as a currency for them.

The price of gold finished the comex session down by only $2.10 to a close at $1724.50.
Silver finished the regular session at $33.20 down 16 cents. The raid drove the price of gold down to $1717 but that was it and brave souls entered the comex and drove the price back to a minor loss.
Silver was the object of the bankers interest again.  It is much easier to whack this metal as players have abandoned the arena and only physical players wishing actual metal are buying silver contracts.  These buyers are actually quite delighted at the opportunity of picking up cheap metal on these "raid days".

Let us head over to the comex where you will see some very interesting developments.First the gold comex:

The total gold comex open interest rose by 2502 contracts from 438,174 to 440,676 contracts.On Thursday you will recall we had quite a reversal on gold and silver as these metals rebounded from their lows to finish slightly up.  The bigger demand for metals caused our OI to rise.  The bankers lick their chops every time they see higher OI as they try to remove these longs from their contracts.  The front options delivery month of February saw its OI fall from 385 to 376 for a loss of 9 contracts.  We had only 2 delivery notices filed on Thursday so again we lost 7 contracts to cash settlements or 700 oz.  It seems Blythe has no other way to settle upon our longs except to offer them cash and a big fiat bonus. The next delivery month is April and here the OI remained relatively constant at 238,397 dropping by a touch higher of 200 contracts. The estimated volume at the gold comex was a miserable 116,731 as many investors are seeking their metal, or playing, elsewhere. No doubt the MFGlobal commentaries of late showing that customers will not receive any of their money is surely scaring people from playing at the comex in the USA.  The confirmed volume on Thursday, the day of the big reversal registered 182,499 contracts but many of those were high frequency day traders.

The total silver comex OI breached its narrow channel by rising 649 contracts to finish the session at 107,270.  No doubt that this rise is surely bothering our bankers as they know the players are serious in taking delivery.  I am pretty sure that this was the reason for another raid in broad daylight. The front options expiry month of February registered a gain of 30 contracts rising from 187 to 217 contracts.  This is the 8th straight day that we have seen a net OI gain in the front February month which no doubt is a signal to all that silver is needed badly in other jurisdictions.  The bankers buy the front month to secure the metal and send it off probably to London to feed needy investors over there. We are now less than two weeks away from first notice in the March silver contract.  Surprisingly the OI fell ever so slightly from 32,232 to 31,030. The players who sold rolled their contracts to May.  The confirmed volume on Thursday, the day of the reversal was 60,903.  Both volumes are very good as of  late.
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Iran names Istanbul for nuclear talks, buttresses Assad with Russia

DEBKAfile Special Report February 19, 2012, 6:30 PM (GMT+02:00)

Iran continues to behave as though it is calling the shots. The first formal announcement of the resumption of Iran-world powers nuclear talks (confirming debkafile’s exclusive) came from its Foreign Minister Ali Akbar Selahi who Sunday, Feb. 19, named the venue as Istanbul, Turkey. Saturday, two Iranian warships got away with delivering arms for Bashar Assad’s crackdown on protest without US or Israeli interference.
They docked at Tartus port Saturday alongside a Russian naval flotilla, symbolizing their joint effort to preserve Assad.
US and Israeli naval craft were entitled by UN sanctions to intercept and search the Kharq supply ship carrying illegal arms and military equipment for Bashar Assad’s army as it sailed past Israel’s Mediterranean coast with the Sahid Qandi destroyer. But they abstained from doing so for fear of a firefight at sea with the Iranian destroyer.
The Egyptian Suez authorities were equally wary of trouble and so did not exercise their authority to search the arms vessel.

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The destruction of savings by inflation

Author: Alasdair Macleod

 

2012-FEB-18

In the past, insurance companies and pension funds have been keen to advertise the benefit of compounding arithmetic for savings. Over the last 30 or 40 years the rate has been lifted by inflation, but to understand the cost inflation brings you have to consider the whole savings cycle: not just the accumulation stage, but also annuity values in retirement. Furthermore, the historical experience of a typical working life should be compared with a theoretical sound-money alternative.
Let us assume a man works for 40 years, during which time he invests a fixed amount annually. This is invested mostly in bonds for a return that gives him a lump sum on retirement. The marketing folk stop at that point, but we shall go on. This lump sum is applied to an annuity to give a fixed income for the retiree’s life expectancy. Let us also assume that $1,000 is invested annually, and we shall use the average return on the 10-year US Treasury bond as our yardstick. The result is shown in the table below under the heading of Paper Money.


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Fitzwilson - Pulling Back the Curtain on the Financial System

40 year market veteran, Robert Fitzwilson, writes for King World News and states that the worldwide financial system is now trapped. He also believes we are looking at tremendous price increases going forward. Robert is the founder of The Portola Group, one of the premier boutique firms in the Unites States, and today King World News was given exclusive distribution rights to the following extraordinary piece:

“Pulling Back the Curtain on the Financial System”

By Robert Fitzwilson, President & Founder of The Portola Group

February 19 (King World News) - As we find ourselves closer and closer to the resolution of the Greek portion of the

European debt crisis, we can see with greater clarity how the next phase of the world’s financial system will unfold. Specifically, we see higher prices for equities, commodities and metals, with stable to declining prices for fixed income. Currencies will continue to oscillate like pistons in an engine, but the downward trend of the last 12 years will continue to persist.

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Pento - CB’s Global Assault to Destroy All Paper Currencies

Today Michael Pento told King World News that central banks are in the process of destroying their paper currencies. Pento, who founded Pento Portfolio Strategies, also said it is incredibly important for investors globally to protects themselves in this environment. Pento had this to say about the situation: “This is the age of a globalized phenomenon, where central bankers around the world view the market forces of deflation as public enemy number one and inflation as the panacea for anemic growth.”

Michael Pento continues:

“There is little doubt that global economic growth is faltering. Most of the developed world is mired in an incipient recession. Japanese GDP fell at an annual rate of 2.3% in Q4. Eurozone GDP dropped 0.3% last quarter and Greece is in a depression—GDP falling 7% as of their latest measurement.

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Gld ETF Warning, Tungsten Filled Fake Gold Bars

By Rob Kirby
http://www.kirbyanalytics.com/ 


(Editor's Note: We first started bringing the existence of tungsten filled gold bars to your attention in November, 2009. Bill Clinton's' involvement with coconspirators Robert Rubin, Larry Summers, and Allen Greenspan came as no great surprise. The absolute corruption of our Government took place during the Johnson administration, and hasn't let up since. - JSB)
Gold Finger - A New Take On Operation Grand Slam With A Tungsten Twist”
I’ve already reported on irregular physical gold settlements which occurred in London, England back in the first week of October, 2009. Specifically, these settlements involved the intermediation of at least one Central Bank [The Bank of England] to resolve allocated settlements on behalf of J.P. Morgan and Deutsche Bank – who DID NOT have the gold bullion that they had sold short and were contracted to deliver. At the same time I reported on two other unusual occurrences:
1] - irregularities in the publication of the gold ETF - GLD’s bar list from Sept. 25 – Oct.14 where the length of the bar list went from 1,381 pages to under 200 pages and then back up to 800 or so pages.
2] - reports of 400 oz. “good delivery” bricks of gold found gutted and filled with tungsten within the confines of LBMA approved vaults in Hong Kong.

Why Tungsten?

If anyone were contemplating creating “fake” gold bars, tungsten [at roughly $10 per pound] would be the metal of choice since it has the exact same density as gold making a fake bar salted with tungsten indistinguishable from a solid gold bar by simply weighing it.

Unfortunately, there are now more sordid details to report. When the news of tungsten “salted” gold bars in Hong Kong first surfaced, many people who I am acquainted with automatically assumed that these bars were manufactured in China – because China is generally viewed as “the knock-off capital of the world”.
Here’s what I now understand really happened:

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2012 Price Predictions for Gold and Silver

By: Johnny Mellgren

Of course, it’s never fun to see your metals go down in price, but you have to keep in mind that the long term trend looking at the 10 year chart, or even a 5 year chart, hasn’t changed. The trends are still intact for both metals. Gold touched and briefly traded below its 200 day moving average which gold has done a few times during the 11 year bull market. Buying physical metal at or below the 200 day moving average represent an excellent point of entry into the market, or a fantastic opportunity to add to positions acquiring more gold at a relatively cheap price. Dips like we saw in 2011 must be considered gifts. Those of you who bought more gold in late 2008 blow the 200 day moving average have done extraordinarily well more than doubling your money. Nothing moves only up without taking a breather to the downside. These dips should be taken advantage of by long term bulls. Now, when writing this in mid February 2012, gold has just recently (late January) broken above the 200 day moving average line. We could definitely see another move below as we saw in 2008, if that happens, it’s an excellent time to buy more.
Gold 10 year chart with 200 day moving average, from February 15th 2012:



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Keiser Report - Episode 250

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Gold Price Manipulation Explained and Why Silver Will Soon Go Ballistic - Bill Murphy of GATA.org

Bill Murphy Interview
Friday, 17 February 2012 00:00

During our interview, we cover what exactly is precious metals manipulation and who is behind it? The daily cap in the gold price, how exactly is this done? How far does it go, does Obama know about the gold price manipulation? And of course, we also covered our favorite metal silver

GOLD 1980 Vs. TODAY