Rising Gold Price Could Set Off Derivative Nightmare-Bill Murphy
Greg Hunter’s USAWatchdog.com (Early Sunday Release)
Bill Murphy, Chairman of GATA (Gold Anti-Trust Action Committee), says precious metal prices have been relentlessly rigged by central banks and governments. Murphy contends, “If gold were to just to have kept pace with inflation, forget all the QE, it would be double what it is today. That’s how artificially low the price of gold is today, and also silver. Once they lose control of silver, it will go from $22 to $100 per ounce very fast.”
Murphy claims that one reason precious metal prices are suppressed is central banks are afraid of what Murphy calls “a derivative nightmare” touched off by a rising gold and silver prices. Murphy explains, “We saw some of this before in 2008. There is counter-party risk all over the place, and it could set off like a nuclear reaction where there is one default after another. Derivatives have exploded to $250 trillion, or just pick a number. They don’t know what the outcome could be if they start getting this kind of reaction. So, they are maniacal in trying to keep the gold and silver prices in line.”
Murphy goes on to point out, “Silver is the only market that in which the authorities have not found wrongdoing in a market they have been investigating–the only one after a five year investigation. It is bizarre how that could happen. All this evidence we have collected is like a murder trial. If you were sitting on a jury . . . and looked at all the evidence, you would say guilty beyond a reasonable doubt. People don’t want to go there because we (GATA) are taking on all the money and power in the world.”
The U.S. Justice Department has recently granted UBS immunity in a criminal investigation of “manipulation of, or fraud in” the gold and silver markets. Why a serious Justice Department investigation now? Murphy says, “I am so skeptical after all these years, and it’s a question of where they go with this. If they are just talking about the gold fix itself—big deal. The ramification of how they are interfering with the markets all the time is the real issue. Why are they doing this now? Well, probably because it is so obvious, and they have been doing it in so many other markets they feel compelled to do something, so they are going here. . . . This is going to effect a lot of people, if I am correct, when this market blows up. Maybe they see something coming with allocated accounts and the gold isn’t there. . . . They know it’s coming, and maybe they are trying to preempt something here so they don’t look so bad.”
On the idea that the government would confiscate physical gold and silver if the price spiked higher, Murphy says, “I think the rest of the world would laugh at us. I give that a zero chance. I just can’t see it because Russia and China and all these other countries have gold, and are they going to confiscate their gold, too? The price would go bananas if they tried to do something like that, and I can’t see how they would want to draw attention to it. Their whole plan is to keep gold out of the limelight. . . . So, to confiscate it, people would ask why? I just can’t see it.”
Join Greg Hunter as he goes One-on-One with gold expert Bill Murphy of GATA.
(There is much more in the video interview.)
After the Interview:
Bill Murphy also pointed out that his GATA organization has suffered what he calls a blackout from the mainstream media (MSM). His group sends the press to almost all financial media sources, and the MSM will not address legitimate questions and concerns. He says the MSM considers GATA a four letter word. Murphy is also the creator of LeMetropleCafe.com. It is a news and financial subscription site that gives analysis on all the financial markets with an emphasis on gold and silver. There is some free information on the site and a subscription costs $299 per year. For a two week free trial click here.
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
Another excellent guest, Greg. I have a lot respect for Bill Murphy and his colleagues at GATA.
Tim,
I think Mr. Murphy will be proven correct about the gold and silver manipulation in front of the entire world. Thank you for your comment.
Greg
Superb work as ever Greg. Your WNW the other day was excellent. That’s a fascinating point Bill made about the confiscation (or not!) of gold, because it’s something I’ve certainly thought about, and the potential for it to happen.
China has intimated something is going to happen in September and if it does relate to gold and currency that could really set the cat amongst the pigeons.
DavidC
David C. In 1930 there were 2,070 000 000 people in the world. I am not sure how much gold there was in 1930. There is over 7 billion folks in the world today. I don’t see any way possible to confiscate gold from the people today. It would be a unthinkable task. This is the best explanation I have come up with that tells me gold and silver will never be singled out to confiscate. At one time I also thought it would be confiscated.
Thanks JC, I appreciate your comment.
DavidC
Greg, wonderful interview. Just one thing that would be great to know from many of your guests, especially Bill today, was HOW LONG have they been doing this in all of these markets? 10 years, 50 years? I believe it has been going on soooo long that the whole rigged game was to make us poor, buy at tops, collapse them, while they got rich. The more we put in, the more they made. The more credit issued, the more they make. Just a thought to add to your repetoire of great questions. Thanks for all you do.
Lynn,
At least 10 years and they turbo charged it in 2011.
Greg
Greg, I really like you so please LISTEN. You will never understand this until you STOP thinking like a slave, who has been trained to THINK like a slave (rule follower). You will only understand what’s really going on when you rise above your own mind-set and begin thinking like a RULER rather than a follower.
One you do THAT, you will not only understand WHY the markets are all rigged, but also WHY the corporations are in collusion with the Gov’t, why the gov’t is silent and not imposing the “rules” on those whom they have ORDERED to do this.
I know. If you would listen, so would you. ALL of these things can be understood including the rush to martial law, the weather, climate change, earthquakes, comets and asteroids, and war later this year. Maybe you would make a more DEEP IMPACT if you understood WHY the US Government would steal everyone’s money, for their OWN projects. Why build all these underground bases. WHY they’re NOT worried about HOW to pay off the Bonds, or payback anyone! THINK!
Or maybe, watch a Good Movie; a Thriller with your wife Ellie. It will taste sweet in your mouth (to understand) but it will make your belly very bitter!
Cryptic Big Sister??? LOLOL . DO TELL, CBS!
Dear Mr. Hunter,
This comment smells like a troll’s vomit: It is condescending, accusatory, and ultimately provides no actionable recommendations.
Gene,
If it is (and I am not sure) they reveal some information every time they comment. Thank you for your comments and support.
Greg
Why not read it again and LISTEN. Or be polite and ASK?
Michael,
I edited out some of what you said because it was rude. Don’t name call, please be polite.
Greg
I ask God to “edit out” your name from His book, if it’s even there (which I doubt) already.
And re-pay YOU according to your worship of money, your total hypocrisy in letting your buddies attack me but deleting my very appropriate response.
I hope you have to live through MONTHS of it and SEE the results of you misleading people all these years to focus on what doesn’t matter and the expense of the MOST IMPORTANT THING.
Michael,
“Judge not, that ye be not judged.” This was your last comment. “Fear Not” my friend, may the Good Lord Bless and enlighten you.
Greg
you are a troll – paid by the government to keep people distracted! I hope you burn in hell you bastard!
Michael,
I will add this one last comment of yours. Is this what Jesus would do? Please do not comment any more as they will not be posted.
Greg
holy cow.
Greg,
This Michael is certainly not very gracious; and I cannot accept his wishing you Hell, as Christian whatsoever. He is either a poser or an impostor. If one is over-wrought: they take their marbles home: NOT throw them at others.
Thank you Charles. You should have read the 10 comments I did not post.
Greg
Oh yeah. Now we know who you are, Mike. Nice try, but no cigar. I think Greg knows very well what the most important things are, my friend.
“heifer”, Brian.
Michael,
First of all one could hardly say Greg thinks like a slave, second, that was a really creepy comment, big time .
ALL YOU PEOPLE who are so focused (obsessed) on MONEY cannot even see the bigger picture. You think like that’s the end of society, even civilization. BUT it won’t be. The END will be when gov’t DISAPPEARS and leaves everyone else to fend for themselves. This is only months away – not years. The US will cease to exist.
Michael
They just don’t get it. This is much bigger than gold, petrodollars, and the exchanges that are completely manipulated by the globalist. The illusion continues until they’re ready for it stop. Set your calendar by it. The G20 meets in November. We should have a clearer picture by then. Good luck.
Thanks Jerry, I’m glad someone can HEAR. I have my own telescope and have always thought for myself. I see for myself! And I take heed for myself and for my family.
By the time these money worshipers see it for themselves it will be too late for them. Their silver and gold won’t make one bit of difference either. BUT None of their blood is on my hands… so all of you who call me names or a troll: when your constant companion is absolute TERROR you’ll wish you had listened and acted.
I understand it ALL. Why don’t YOU?
You know, Michael, what your post reminds me of? The devil tempting Jesus in the desert. “look, I will give you all the wealth and power that you see, but…..you must get down on your knees and worship ME”. That’s the religious take. The secular take? “Join us psychopaths.” Characteristics of a psychopath: lack of empathy, lack of guilt, glibness and superficial charm, exploitation of others, lack of remorse.
SK
“Characteristics of a psychopath: lack of empathy, lack of guilt, glibness and superficial charm, exploitation of others, lack of remorse.”
………An absolutely perfect description of “ha ha Hillary”
Cheers
Col
Come to think of it these characteristics pretty much describe Obama, Kerry, Nuland, Cameron and Merkels actions and demeanor as well.
The list goes on!
Col,
I think more along the lines of – ‘I’m right; and everybody else is wrong – so you better listen’ – kinda borderline schizophrenic. I don’t mind someone holding a sign on the corner and screaming – but I worry this one will start swinging it.
You know sk, your comment comes across as from a self-centered . . . (This is Greg Hunter and I cut most of your comment. You will comment in a polite manor or you will not be allowed to comment. Calling someone a dumba#@ is not polite or respectful.)
Greg
It’s OK, Greg. “Dumbass” is hardly the worst epithet that has been slung at me. Let Michael speak. I am somewhat psychic, and this Michael is a treasure trove of in formation. A veritable education.
SK,
So sorry but I am not going to let people come on and devalue the conversation or this site in that way. You should have seen the 10 comments of “Michael’s” I did not post.
Greg
Greg,
it looks like the Chinese might bypass the IMF deal altogether and do their own exchange system.
http://rt.com/business/261289-brics-new-development-bank/
With the Greece default looming June 5h, they may let the IMF and the EU take the financial hit, and offer the countries who have joined them in the AIIB a way out. And the big news is, the new system will be backed by Gold driving up its price.
Greece says it wants to pay its debt, but needs aide. What? How does that work?
http://www.reuters.com/article/2015/05/25/us-eurozone-greece-deal-idUSKBN0OA0P820150525
Jerry,
I can’t understand why Greece just doesn’t do this? Get it over with…they have all the leverage!
hello Greg. I love your interviews , they are very informative for the common people . And I have stopped watching the mainstream media since , they are just a big joke .Though I don’t live in the USA , what does it mean for us who own silver coins ? what do you suggest if the market set itself, sale right away or hold on it for future crisis?
thanks and great work
Sean,
Hold your coins.
Greg
Sean- I was told by an insider 10+ years ago to get out of anything paper, that gold and silver was the money of the elite’s. “any thing paper is – stocks, bonds, paper money, IRA’s 401-K’s etc type investments- I was even told to get out of life insurances policies.
Keep only enough money in the bank to pay bills with checks. When collapse hits- expected in Sept. ’15- banks will be closed .
I was told to buy small 90% silver dimes, quarters, etc to start. Only buy silver for the silver- no special coins marketed up. When collapse happens- silver will be worth silver.
I believe silver will go to $100. oz. but then much higher as everyone will want it when cash dies, and cash is dying right now- they elite’s want people chipped!!
Get as much silver as you can now- when the system blows- it will explode higher!!
al
Greg: great guest and so knowledgeable . So much in here to comment on!
1st- why is UBS doing this now with the US Justice dept? Well, this will take many years to be worked through- normal for the Justice dept. The reason is also, it to late to stop the collapse. Nothing will stop it now. This will be all for NOT!
2nd- Pastor Lindsey Williams was told by the elite’s that the collapse will start in the derivative’s markets. Bill is kind of saying the same thing. Also, Lindsey was told- the only money of the elite’s is -“gold and silver”! Why low prices and manipulation of gold/silver- one, so people don’t loose faith in the dollar, keep the game going, and 2 the elite’s are buying the metals as fast as they can in small amounts- they want low buy-in prices.
3rd- I believe went the SHTF- gold and silver will sky-rocket- geometrically – the suppression has been going on for so long- NO one knows were the price may go?
Remembering their is less silver now in the world than gold- some predict silver may go higher than gold?? I know one thing- I bought into silver at $6./oz. I’m doing okay with a triple already- even with the manipulations.
And 4th- All signs point to the collapse coming mid-Sept. 2015. Pastor Williams was just told – this timetable is set and is a go from the elite’s.
5th- The Collapse along with the 4th of 4 blood moon’s , cycles of 7, and this one is the 7th of 7’s, an Asteroid hitting in South Atlantic Ocean in or about Sept. 25th, 30+million in USA alone to die minimum , and then Planet X’s first fly by March/April 2016( see latest from Marshall Masters- the expert). It is coming people!!
As I said- it’s now to late to stop the collapse- best to get right with your maker- who ever and whatever you believe.
Not to mention the Great Flying Spaghetti Monster bending near the earth…..to sing his song of booga, booga. Makes that blood moon fade into insignificance…LOL….wake up, gang. It’s all done by concrete human beings whose names you would probably recognize. But they want you to think this is all foreordained from on high, written in the stars, so they can go scott free to their homes in Provence….
Greg I was shocked to see yahoo talking about the Greeks coming into default in June.
http://news.yahoo.com/greece-issues-fresh-warning-imf-payment-june-115223346.html
Jerry. No one in the MSM talks about what the ripple effect of a Greece default would be.
JC
They can’t rob Peter to pay Greece anymore. The IMF is kaput.
JC, they only made the May installment on a technicality. What I wonder about is why they would have scraped to make the May installment knowing they could not make any additional payments going forward. Either they want to empty the coffers completely or some sort of remedy/can-kicking is in the works. The situation is obviously untenable; it’s just a matter of how the Eurozone (Germany) wants it to play out. On the face of it, a $360-billion default is chicken feed today; it’s the precedent they are all seeking to avoid. We know how this ends up. What we don’t know is how we get there and how long it takes. Best always. PM
Excellent guest and interview.
Great interview. Many interesting comments.
So, why don’t you tell we Americans what we need to be doing to survive this collapse???? The only talk I hear on all the sites is that the middle class will be wiped out. What about those in the lower class that live paycheck to paycheck, have no savings, can barely make ends meet, make too much to qualify for any help, but not enough to survive?????? Do I need to start stock piling food, medicines, toiletries…..etc???????? WHAT are we supposed to do????????
Donna S,
You need to do all the above and do it before the end of summer.
Greg
Greg,
Thank you for your reply as well all the others that commented. I am guessing the end of the summer….Sept-Oct is when the economy is supposed to tank? Do you have any thoughts on Jade Helm 15 and the economy all going on at the same time?
Donna S,
I don’t know it the economy will totally tank then but we are going to find a new lower plateau and after that a succession of lower plateaus until we reach a new paradigm. This is nothing short of a massive global paradigm change and the U.S. will be the leader.
Greg
Donna S. Great question ! I would like to put my thoughts in the basket. I have been prepping for 5 yrs. Yet my main preparation is not physical. I advise everyone to get to know Jesus and the life and death on the cross. Without faith in the one true God loneliness can cause a person to do much evil. Evil will be the biggest problem in a collapse. I have see God feed me, and I am sure he will take care of me. I prep for the future in hope to help others.
Donna, please think about this for a minute: those living, as you say, “paycheck to paycheck, have no savings, can barely make ends meet” are ALREADY wiped out. It’s just not formalized yet. How well do we know your friends and neighbors? We’re about to find out…Best always. PM
the “your” in the above comment should read “our”. Teamwork and cooperation are the underpinnings to survival. Best always. PM
Donna, I hear families say that they can’t afford preps. If they just do the math and exercise some self-discipline most could easily buy food insurance for their love ones. Food is king. With it folks can barter for almost anything else.
I just calculated today’s cost for 100 lbs. of each of the following: Rolled Oats, White Rice, Black Beans and Green Peas (vendors: Costco, Walmart, and Azure Standard). The total cost for FOUR HUNDRED POUNDS of good food came to $201.40.
Virtually all scenarios predicted by Greg’s guests, including Bill Murphy’s, have one common denominator: Hard Times Are Coming. How long do you think this food would remain in stock?
Donna … after you buy your food, etc. buy two one ounce silver coins and put them away ( the nice thing about them is they have no expiration date) … if the coins eventually go to $500,000 dollars each … you should have more then enough fiat to do some bargaining with!
this is a battle to the death. it’s the west v the east. but notice how the east doesn’t fret about it at all. they know time is on their side and that PMs have true value, while paper has only dictated value. the east is willing to wait and gather more, to organize an unmolested market for PMs and to let them speak for themselves.
if only westerners had this kind of wisdom and common sense we would not find ourselves on the desperate and ultimately losing side of this struggle.
Tom
Concise….Accurate…..Brilliant
In a matter of a few concise sentences you said it all!
Cheers
Col
Hi Greg,
Been watching your show for a long time now. Love the work you do. It seems like everyone is saying Gold will be king when all is said and done. Even though Harry Dent says it will fall “initially”. Do you think Dent meant it will fall first “because in a Crash, everything falls together”, but will then rise soon after? If thats the case then everyone seems to be on the same page and it would be very re-assuring since I purchased some recently.
Hi greg. This is juan from san antonio,tx.. I went through a lot and lost contact. Pleaseur send me ur physical address to send u a copy of my work. Thanks for educating us!
Juan,
It is near the bottom of the donations page https://usawatchdog.com/donations/ Sorry you are having trouble.
Greg
The amounts of silver used per unit in electronics is small enough that even at $100 an ounce it would not create a real cost issue for manufacturers. The real issue for electronic manufactures would be a shortage.
JP Morgan Acquiring American Silver Eagles? NO
As Mr. Murphy pointed out an increase in JPMorgan’s depository doesn’t even mean JP Morgan itself owns the silver.
Also JP Morgan’s increase in its holdings coincides with large decreases in the silver stock piles of bullion banks HSBC and Scotia Moccata.
Ted Butler’s contends that JP Morgan’s silver hoard is perhaps 350 million ounces and that JP Morgan is in a position to corner the silver market.
There is NO evidence that JP Morgan has this much silver.
Earlier this year, Mr. Butler surmised that JP Morgan had been accumulating a large percentage of the record number of American Silver Eagles produced over the past few years. Given that the annual production of American Silver Eagles only represents a single digit percentage of the annual global silver mining production, acquiring large amounts of silver eagles would not be the most efficient way of cornering the silver market.
Further, buying millions of American Silver Eagles would not be a cost effective way of cornering the silver market. It is unlikely that JP Morgan would be acquiring small one ounce coins that the U.S. Mint sells at a $2 premium per coin (at $20 per ounce or lower such a premium would be in excess of 10% per ounce). Rather, JP Morgan would more likely buy “good delivery” large silver bars eligible for trading on COMEX. American Silver Eagles can not be traded on COMEX.
Is JP Morgan going to open a chain of retail coin shops to sell millions of American Silver Eagles at $150 each?
The probability that JP Morgan is attempting to corner the silver market is no more likely than the liklihood that COMEX is in danger of an “imminent” default– a prediction that has been bandied about for the better part of a decade.
JP Morgan’s increase in its silver stocks doesn’t necessarily mean they are trying to corner the silver market. An increase in their silver stock holding provides them with insurance against delivery requests on COMEX and gives them more leverage if they wish to increase their short position. In addition, some of the silver in JP Morgan’s depository belongs to clients, not JP Morgan.
The value of the silver market is small and if you believe the silver manipulation theories, JP Morgan can make more money selling paper silver futures contracts every day on COMEX than acquiring 800 million ounces of silver and then trying to sell it all on the market at a profit.
JP Morgan’s Participation in Comex
J.P. Morgan is one of the bullion banks that form the London Bullion Market Association that make a market in physical gold and silver. They include: Barclays, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorganChase, Merrill Lynch/Bank of America, Mitsui, Societe Generale, Bank of Nova Scotia and UBS. The LBMA in London is where the largest trades of physical gold and silver take place.
Buy Silver, Crash JP Morgan
Max Keiser astutely pointed out in 2010 that JP Morgan did not have enough silver in its depository to meet large requests for physical delivery in connection with their COMEX short positions. (see chart above) Mr. Keiser initiated a buy silver crash JP Morgan campaign on the theory that JP Morgan would not be able to cover their short positions.
JP Morgan’s addition of 55 million ounces of silver to its depository since 2011 make the inability to cover their short positions less likely.
Wow brilliant Greg that give me some very good confidence On holding on to silver and gold, very knowledgeable guy when it comes precious metals, good interview Greg and happy memorial day. Thomas
Greg, Thanks to Bill and all your guests for exposing the truth. Thanks for being a voice of truth. It is amazing what the truth can do. Never give up! Never give in! If we stand in the truth we stand with God, and we have no need to fear.Let us all prepare. Most important is turning to our true support, He who gives our life and liberty, may we bless His name. Next we need food storage. Wheat, rice, beans, sugar etc. These last for years in a dry cool basement. We have forgotten how important food is! Next grow a garden. Chickens are easy, and fresh eggs are great.We also need to be able to find a source for water. After that pray and pray some more cause were gonna need a lot of help! God bless you! Todd
Thank you Todd and Amen to never giving up!!
Greg
Greg, I’m a stacker, but, there’s a difference between stackers and doom and gloomer end of dayers.
The real powers that be, the global bankers and the Chinese DO NOT want to see paper money collapse.
Don’t forget China is in debt too and they know our collapse would mean their demise too. Let’s get realistic for a second. The debt the entire world has accumulated is easily fixed by devaluation of fiat currencies. If and a BIG if there’s a fiat collapse do you really think the the power elites want to live in bunkers and hide from the angry hoard? No, this has all been carefully orchestrated. QE eventually means devaluation wiping out most of the world’s debt, it’s unavoidable but the collapse all you doom and gloomers predict is completely unavoidable. Yes, PMs will skyrocket when the money is devalued so I suggest trading any paper for physical PMs. The markets and the world will keep spinning after the fiat currency is devalued. The golden rule will still apply, he who owns the gold will rule.
Straight, clear talk – very insightful. Generally you hear variations of the same theme: not from Bill Murphy. This man is going to rank with the best guests! The picture widens…
Good job the both of you!
Bill Murphy likes silver better then gold … so do I … some people look at the one dollar face value of a one ounce silver eagle and the face value of a 50 dollar one ounce gold eagle and assume that a 50 to 1 (Silver to Gold Currency Ratio) should be used to price silver … meaning these people believe that if gold goes to $5000 dollars per ounce silver will likely sell for about 50 times less or about $100 dollars per ounce.
Other people look at the Silver to Gold Mining Ratio where about 12 ounces of silver are mined for each ounce of gold mined … using a 12 to 1 (Silver to Gold Mining Ratio) $5000 dollar gold will give silver a price of $416 dollars per ounce.
More savvy people are looking at the (Silver to Gold Depletion Ratio) this ratio projects just how much silver will be left in the world compared to gold … after being consumed in manufacturing … with talk that there are secret stashes of gold around the world from Yamashita’s Gold, Nazi Gold, Grand Canyon Gold, Chocolate Mountain Gold and so on … so there could be even more gold out there … but there are “no secret stashes” of silver … and silver is discarded each and every year in trash heaps around the world because its price is so low it does not pay to reclaim it like we do with gold. In about 8 to 16 years the Silver to Gold Depletion Ratio will be close to 0 to 1 … $5000 dollar gold divided by zero gives silver “an infinite value” so lets take $5000 and divide it by a very small number like 0.01 … this gives us a silver value of $500,000 dollars per ounce!
As the depletion of silver in the world becomes common knowledge … people will begin to realize more and more that silver is actually “much rarer” than gold … therefore the price implications for silver in relation to gold is just staggering … the US Geological Survey has already put out an alert that based on current silver consumption levels there is only about 10 years worth of known below ground Silver reserves remaining in the world (and consumption rates are increasing i.e. solar panels, etc.).
So in just a few years time we could expect to see massive demand for silver from an investing public that begins to “wake up” to silver going extinct (which will heighten the shortage even more) … then as people begin to see ever escalating prices … there will be a significant PANIC into buying Silver … consider the very very powerful implications for those WatchDoger’s stacking silver right now!
Paul – I’m for the depletion ratio thinking. many experts to include my insider friend believe silver maybe worth more than gold at some point. I also believe there is more up side gains to be had with silver as a percentage! I have some gold, but 1/2 a Ton of silver.
I buy a little at a time as I can afford to.
al
Paul, I agreed about silver. Try buying a loaf of bread with your gold coin. I’d rather have a pocket full of mercury dimes. Also, gold (and possibly large silver bars) will be counterfeited and good luck finding a trusted assayer amongst chaos. Everyone will recognize a US mint silver dime.
There is nothing flash about so many of your guests recently Greg, Bill Murphy being another clear example of that. Humility is the acid test of authenticity. Thanks again, A
Andrew de Berry (Rev).
Humility is the acid test of authenticity.
I think you have forgotten more then I will ever know.
The Manipulation of Information
“By clever and persevering use of propaganda even heaven can be represented as hell to the people, and conversely the most wretched life as paradise.”—ADOLF HITLER, MEIN KAMPF.
AS MEANS of communicating have expanded—from printing to the telephone, radio, television, and the Internet—the flow of persuasive messages has dramatically accelerated. This communications revolution has led to information overload, as people are inundated by countless messages from every quarter. Many respond to this pressure by absorbing messages more quickly and accepting them without questioning or analyzing them.
The cunning propagandist loves such shortcuts—especially those that short-circuit rational thought. Propaganda encourages this by agitating the emotions, by exploiting insecurities, by capitalizing on the ambiguity of language, and by bending rules of logic. As history bears out, such tactics can prove all too effective
Your right … “Even Heaven can be represented as Hell” … https://www.youtube.com/watch?v=dcpVrtv2t-M
Greg,
This Hairy Guy echoes Tim’s comment. I’ve been on GATA’s email list as early as 2002 or so and agree with most of their contentions regarding gold reserves. I believe GATA and most of your viewers will enjoy hurling the last laugh when it truly hits the fan, and it shall! Thanks again for thinking outside the box to find those few-exposed entities who deserve to be heard – now!
WHILE QUANTITIES LAST
In my lifetime in retail sales management many times have I drafted print ads for Sale events.
In the banner of these ads I always included the words While Quantities Last.
This is called the COYOAS principle. cover your ass.
Any sale can only continue as long as the product supply lasts.
The gold cartel has likely now nearly exhausted every possible supply of physical gold.
BOUGHT. STOLEN.BORROWED. You name it and it appears it has been done.
As the world powers continue to repatriate their gold the supply and manipulation must must be getting critical.
Can you imagine how the price of gold will explode when the world realizes that the gold is gone.
When that time arrives…you will either have it or you will not.
My gut feeling is that this situation is NEAR CRITICAL.
This interview from GATA seems to confirm.
all aboard
Mike From the north. When that time comes will you sell your gold for paper money ?
I ‘ve been wondering about this stuff for a long time. Funny how a large
part of the physical market is supplied by “state” run mints. And some
people seem to have infinite “credit” to keep shorting these paper markets?
I think there is not a gov in the world that isn’t involved in this and
China particularly. Bill has been a lone voice in all this. I really like
what he’s doing. I believe these people have done worse than just destroy
price discovery. They are destroying the public contract. Money itself. JMO
Great interview Greg.
IF: banks are doing all this nasty stuff as experts say, how do they keep it a secret…wouldn’t someone in their structure leak infor?
thanks
Haven’t you heard about the approximately thirty, yes, THIRTY, bankers meeting violent deaths over the last several years? Cars swerving onto sidewalks, railings on the 10th floor giving way, ‘thugs’ in dark alleys, even some myocardial infarctions at age 35 (ha). Check it out. Maybe these guys developed a chink in their otherwise psychopathic reptilian skin….
Snore!
Excellent interview! Bill Murphy has led a crusade in uncovering the manipulation story in precious metals. Time and again his organization GATA has shone the light on a corrupt financial establishment and accomplice financial media. He is pragmatic in his prognosis of when the ” tipping point” might occur but occur it will. The fact UBS is purported to have been offered immunity in the probe of Gold/Silver manipulation perhaps is a signal that we are nearing the tipping point. Time will tell. In the meantime Bo Polny of Gold 20/20 sent out a note Friday that before summer begins ( June 21st) gold will experience a ” shocking and unexpected rise” . Again , Greg thanks for another great interview and please have Bill on again.
Bill has been calling for the tipping point for the last 4 years. It’s always imminent. Bo Polny said last year that by the end of 14 gold would hit over $2000.00. You still wish to listen to these people?
A couple neurons in the back of my mind remember that IF the bullion banks are operating as agents of the government (US Treasury) they’re (JPMorgan, et al) are good to go with regard to the law. (Would the US Government do contractual work with a known felon? Say it isn’t so.) Is UBS one of the banks that Treasury uses to manipulate markets? If they’re not, maybe that’s why they needed immunity from Justice.
At some point the banks will lose control of the price of PM’s and the price will do as Bill Murphy speculates. The price will go parabolic and Eric Sprott’s forecast will be shown to be correct. But who knows what games/regulations/geopolitical events will allow them cover for what they’ve done.
Just like the penalty for criminal wrongdoing was left for the stockholders to pay in the ForEx market case, someone else will end up paying for this, maybe the American public in the form of hyperinflation. Egon von Greyerz (a recent guest here) has speculated the price of gold will go to $10,000 in pre-hyperinflation currency.
Greg, What a wonderful informative guest, Bill Murphy. He is someone in the know for sure, but he said CATA was up against the bill time players. I think he is hoping somewhere, somehow this news gets out, so thanks to your interview it will.
I want to bring up a point I heard from him. He brought up the fact about art. Several of your guests like Jim Richards says in his book ‘The Death of Money’, that a good place to put your money into is art. As an art educator I have noticed this lately. World’s most expensive painting by a woman goes on display in Arkansas. Georgia O’Keeffe’s Jimson Weed/White Flower No. 1 (1932) sold to Crystal Bridges Museum founded and funded by Wal-Mart heiress, Alice B. Walton. the price Walton paid was 44.4 million. She has been buying American art and spending millions if not billions. Also look what just sold Picasso’s ‘Women of Algiers’ (boobies) , May 11th. It sold for 179.4 million. This tells me that the people with a lot of money are already looking to putting it into hard assets. My educator friends have been buying Oriental, Chinese, etc. art. Who will have money to buy the art back will be the Chinese.
Really liked this man and will want to see him back on. Lately you have pulled out all the stops on super people in the know to interview. My computer went down last week and I had withdraws not being able to see and hear the interviews. Thanks, Greg.
Interesting
Greg,
Meant to give the links for the art.
http://observer.com/2015/03/worlds-most-expensive-painting-by-a-woman-goes-on-display-in-arkansas/
http://money.cnn.com/2015/05/11/luxury/picasso-auction-results/index.html
Greg – great interview. I think that Bill answered his own question that silver will probably not do anything until the wheels come off the system. The big banks which have manipulated the metal prices for so long are like hardened life long mobsters and they just are not going to wake up one day and go clean. They will continue this manipulation as long as they have a pulse and can push the CTRL Print Button.
AS always.. Great guest! lots of respect for Watchdog too. the cutting edge!!!!
Good guest. I hope the truth wins sooner than later. Thanks for your efforts Greg.
Greg: I know full well the fundamental arguments for a rise in PMs and the high probability that Kirby, Murphy, Sinclair, et al are correct in their analyses that the vaults are echo chambers and the price discovery epiphany is near at hand. What has amazed me is the bankster ability to maintain the price suppression status quo for so long. Of course the wealthy, Asians, Russians, etc are happy with the discounted prices, so there will be nothing in the MSM until the implosion. Although I have noted of late that Faber (and other billionaires), and even Greenspan are starting to speak on on the necessity for owning gold.
I still believe (and have often stated) that the catalyst for major price increases will be the purposeful devaluation of the USD, following some event, whether real or contrived. Let’s see if I’m right.
Until naked shorting is stopped and the perpetrators jailed, they can continue to suppress all commodities. Since this phenomenon is a central bank/government con game through intermediaries, it could continue for a long time.
Mike
I agree!
Naked shorting in tandem with almost infinite counterfeit printing by the Fed is impoverishing the majority of the western world.
Cheers
Col
lol, you can’t help but notice it, that whether the dollar either goes up or down, PM’s always goes down.
If I could have, I would have moved to New Zealand years ago.
Cheers, my next bourbon’s for you.
Mike
All good Mike.
I love Jacks!
Cheers
Col
Superb as always Mr. Hunter. You consistently have outstanding quests, and I look forward to them every week on Mondays, Wednesdays, and your weekly wrap-up on Fridays. Thank you for all you do.
Thank you RJ for your support.
Greg
Greg,
My impression was that when Bill said silver should jump to $100 an ounce, he was referring only to the response in the gold & silver manipulation. The derivative market, bond market, government debt, etc….would make the $100 an ounce more of a price floor rather than a ceiling.
One of the many pressing stories that remains to be told from the Snowden archive is how western intelligence agencies are attempting to manipulate and control online discourse with extreme tactics of deception and reputation-destruction. It’s time to tell a chunk of that story, complete with the relevant documents. https://firstlook.org/theintercept/2014/02/24/jtrig-manipulation/
A History of Da Propaganda
Today the word “propaganda” has a negative connotation, suggesting dishonest tactics, but originally that was not the meaning intended for the term. “Propaganda” apparently comes from the Latin name of a group of Roman Catholic cardinals, the Congregatio de Propaganda Fide (Congregation for the Propagation of the Faith). This committee—called Propaganda for short—was established by Pope Gregory XV in 1622 to supervise missionaries. Gradually, “propaganda” came to mean any effort to spread a belief.
But the concept of propaganda was not born in the 17th century. From ancient times, men have used every available medium to spread ideologies or enhance fame and power. For example, art has served propagandistic ends since the days of the Egyptian pharaohs. These kings designed their pyramids to project an image of power and durability. Similarly, the architecture of the Romans served a political purpose—the glorification of the state. The term “propaganda” took on a generally negative connotation in World War I when governments began playing an active role in shaping the war information spread by the media. During World War II, Adolf Hitler and Joseph Goebbels proved themselves to be master propagandists.
Following World War II, propaganda increasingly became a major instrument to promote national policy. Both the Western and the Eastern blocs waged all-out campaigns to win the great masses of uncommitted people to their side. Every aspect of national life and policy was exploited for propagandistic purposes. In recent years the growing sophistication of propaganda techniques has been evident in election campaigns, as well as in advertising by tobacco companies. So-called experts and other leaders have been employed to portray smoking as glamorous and healthful and not as the threat to public health that it actually is.
Lies, Lies and more Lies. . . .”R.I.P. _ Here Lies A Liar Named Liarie Lierme! X
Lies, Lies!
Certainly, the handiest trick of the propagandist is the use of outright lies. Consider, for example, the lies that Martin Luther wrote in 1543 about the Jews in Europe: “They have poisoned wells, made assassinations, kidnaped children . . . They are venomous, bitter, vindictive, tricky serpents, assassins, and children of the devil who sting and work harm.” His exhortation to so-called Christians? “Set fire to their synagogues or schools . . . Their houses [should] also be razed and destroyed.”
A professor of government and social studies who has studied that era says: “Antisemitism has fundamentally nothing to do with the actions of Jews, and therefore fundamentally nothing to do with an antisemite’s knowledge of the real nature of Jews.” He also notes: “The Jews stood for everything that was awry, so that the reflexive reaction to a natural or social ill was to look to its supposed Jewish sources.”
Does any of this sound familiar today on memorial Day?
Well you know who you are and you should be ashamed of yourself.
Our warriors, not! But our brave soldiers, gave up their lives because a free press means a free people and a free people have a free press. A free Internet creates a Free World, ask the man who stood before the tank in Tienanmen Square.
The U.N. and our own dear leaders want to bring us Net Neutered Reality which they affectionately call Net Neutrality.
Lets give them the rope they want. They will use it, believe me!
Gertie,
Thanks for the history lesson. I love to learn where words originated from and how they have changed. A lot of people don’t have a clue. Now our government has passed another bill that lets them keep printing the propaganda. The problem is that I cannot wake some family and friends up. The repetition of all the TV ads from the Big Pharma make me want to turn to another channel. I for one an not stuck into believing all the lies they print.
There is a fascinating documentary on the subject of propaganda. In was made a little over 10 years ago by Adam Curtis. Anyone can watch it at the present time for free at https://archive.org/details/TheCenturyOfSelfThereIsAPolicemanInsideAllOurHeadsepisode3
But be sure to click on the first episode to start; otherwise, it will start the third. Evidently the links to the first two were eliminated.
The only question is whether the ecological or financial disaster is going to strike first.
The manipulation game lasted longer than anybody had anticipated, but time is up!
A great interview, Greg! You do a good job of asking the right questions, and that makes all the difference in terms of getting value from your speakers for the rest of us. I came away with some more insights into how the game is being played, even if the big “when” question wasn’t answered. I also don’t feel there is much we can do about what the elites have planned and how they intend for things to go. I personally think there is a larger plan in motion than just theirs, and only time will reveal the truth of all things, but in the meantime this site and your speakers make it more interesting while we wait to see the outcome. Thank you and kudos to the GATA folks for fighting the good fight, regardless of whether it makes a difference or not.
I was a bit surprised to hear that the MSM folks are so open about their jobs being at risk if they touch the story. It wasn’t that they are toeing the line that was surprising; it was their admission as to how much they are controlled in terms of what they can report on or not.
Dear Mr. Hunter,
I became aware of Mr. Murphy’s courageous work several years ago when he fought to present his testimony before the CFTC. It was evident that the Commission was very reluctant not only to receive the evidence and reasoning that Mr. Murphy was presenting, but that, by its reaction to Mr. Murphy’s presence and presentation, it was refractory to any and all evidence and reasoning that tended to prove the existence of effective price suppression efforts in the precious metals markets. That encounter demonstrated to me quite clearly that the CFTC in reality had (and presumably still has) no genuine interest in lawfully regulating these markets.
I hope Mr. Murphy realizes that his strenuous efforts have not been without substantial beneficial effect. In the words of St John, “The darkness is passing away, and the true light is already shining.” 1 John 2:8. Unlike Lloyd Blankfein, Mr. Murphy really is doing God’s work.
Amen Gene!
Greg
All you brave souls advancing the banner of Truth, and that includes you, Greg, have earned my boundless gratitude. In their own country, prophets are never taken seriously. Regrettable.
Because of your guests, you have one of the most enlightening sites on the web.
Thank you Homer.
Greg
I have been “watching” gold and silver pricing for years (with little money to invest myself) so I hardly bought any, family to raise etc. The results that I have seen are that people that tell you gold/silver is going up – want to sell – and turn a profit themselves OR they are selling the product and want a higher price. The other thing that I discovered is IF you do have something to sell and let’s say you bought it when gold was $200 per ounce, TODAY your only business outlets to buy it from a small guy will only offer about the same price for the article as what you paid 30 years ago. In the future based on supply and demand, the markets I think will be flooded with valuables once the “depression” hits and prices will drop like a rock and the wealthy will clean up. Am I an “expert” no, but what I have learned as an elder person is that people in the know don’t want to “help” the little guy, very few exceptions. (Like that young CEO that cut his salary to have every employee make $70K minimum in his company). Might want to interview him, he’s one of the few good guys.
Elder,
You said, “The other thing that I discovered is IF you do have something to sell and let’s say you bought it when gold was $200 per ounce, TODAY your only business outlets to buy it from a small guy will only offer about the same price for the article as what you paid 30 years ago.” You are getting only $200 an ounce. I’ll take all you have for that price.
Greg
Greg. That’s not fair. If your going to post this leave it for open bidding. I will do 1,207.00 I have always wanted a 1oz of gold coin. I got to hold one at a pawn store. It is awesome to hold 1oz of gold. I think I had a touch of gold fever. Everyone should go to a gold store and hold one.
Greg, the point I was making is that if I bought a gold chain 30 years ago (16g or .587 from 24k) which I did, I now looked around where I could sell it (all the places on the internet and stores) and I was only offered junk gold pricing ($357 oz. 16g on the high side) minus their resale margin and my net for that chain was about the same as what I paid for it 30 years ago. What I learned is that you are better off buying small pure gold 1 oz bars then you get close to the appreciated going price less margin of course. Necklaces, rings etc. lose big time when you want to get rid of that type of gold.
It’s funny but if I would have bought U. S. Savings bonds for the same money I spent on a necklace I would have actually safely doubled+ my money. But looking to the future I listen to programs like yours to get insight. Thanks
Bill Murphy provided an excellent discussion of likely manipulation in the Gold and Silver markets. Clearly, when other hard assets like real estate, and diamonds are booming (auguring inflation) — it is hard to fathom why gold and silver are moribund.
The only question that I have is that many gold and silver advocates like Bill are talking about explosive moves in gold and silver. While likely, there is no guarantees that this will occur in the near-term (i.e., this year or next year). Basically, the all in sustaining cost of the silver industry this year is under $16.00 per ounce; gold is under $1,000 per ounce on an AISC basis. While not all miners are doing very well — a large number appear to be getting by based upon these industry rules of thumb. For gold or silver to explode upward — it would require more than ending purported manipulation as fundamentally the prices today are low but not totally out of alignment with industry fundamentals — it would require a currency crisis.
Again, while that event is likely — it is not guaranteed in the short-term. The Fed might raise rates a token amount this year as the market surmises. They might allow the air to be taken in part out of the stock market to subdue speculation. Clearly, they curtailed Q/E last year and many pundits did not think that they would do that. My recollection is that Peter Schiff and others did not think the Fed would follow through.
Ultimately, people like Bill Murphy, John Williams, et. al — will be proven right. However, the timing of these explosive moves still appears tenuous — could be tomorrow; could be 1-5 years from now.
Yes — it does make sense to have appropriate insurance; but a lot of patience may be needed as well.
SReiser
Did the Fed really ‘curtail’ QE last year or did they just get even more innovative and downright dishonest about how they implement and report it?
Cheers
Col
Colin,
Technically, they curtailed Q/E. They are not buying bonds directly aside from the interest accrued from their $4 trillion balance sheet which is putting about $80 billion back into purchases each year. However, they definitely did pull back. Even the issue regarding Belgium buying of treasuries was ultimately determined to not be the Fed — but the Chinese buying treasuries covertly.
We might “believe” that they never pulled back. However, even Schiff or Rickards would acknowledge that they pulled back. Neither of these guys who are quite clear thinkers are discussing back door Q/E.
Will the Feb fully restart Q/E when the problems resurface? Yes – when it is glaringly apparent that the problems are severe. They need political cover. Personally, I think that people should still have core gold positions, etc. — my view above is that patience is still required because the gold/silver markets do appear to be actively managed, and when the situation finally does blow — it will occur rapidly. However, whether that occurs today, Q3, or 3 years from now — is best guess.
As usual. Good job. I find myself a singularity. I admit it. Great group of followers here. Good people. Smart as whips. In my opinion….blind as bats. LOL. Meant in good fun. 99% of your audience thinks they can juggle their finances and come out with a profit. “Things will turn around…life goes on”. I’m the 1% who thinks….it collapses, your bank accounts are toast. Your 401 is zip. Those stocks you have…are for the outhouse. Products are not delivered….gas, food, electricity….etc. And we have a very violent time with our “you owe me” society. I’ll miss your reporting.
But, in the interim, I really enjoy your site. I wish I could find more, honest sites to watch.
I read this recently. Since Commercial banks get to “create the money supply” they can hit the button to pay off the fine. Correct?
If the greeks don’t pay there bills it may be to late co any thing but buy ramin soup.
Japan to join U.S., Australia war games amid growing China tensions
. Reuters
12 hours ago
By Matt Siegel
1. Japan steps up maritime engagement with Philippines, Vietnam Reuters
2. China to extend offshore military reach to counter ‘provocations’ Reuters
3. Philippines and Japan hold historic naval drills in flashpoint waters AFP
4. Philippines says important to uphold rights over South China Sea Reuters
5. U.S. Marines look to nurture integrated Asia-Pacific amphibious forces, China excluded Reuters
SYDNEY (Reuters) – Japan will join a major U.S.-Australian military exercise for the first time in a sign of growing security links between the three countries as tensions fester over China’s island building in the South China Sea.
While only 40 Japanese officers and soldiers will take part in drills involving 30,000 U.S. and Australian troops in early July, experts said the move showed how Washington wanted to foster cooperation among its security allies in Asia.
The Talisman Sabre biennial exercises, to be held in locations around Australia, will encompass maritime operations, amphibious landings, special forces tactics and urban warfare. MORE BELOW;
http://news.yahoo.com/japan-join-u-australia-war-games-amid-growing-210302030.html
bill gross says it will end with a whimper not a bang http://www.nytimes.com/2015/05/24/magazine/bill-gross-thinks-the-end-is-near.html?rref=collection%2Fsectioncollection%2Fmagazine&_r=0
Greg,
I would like your journalistic view of what you think the purpose of this drill is?
https://youtu.be/kHCe1qboL2g
If the war on terror is working, and If the NSA and homeland security are actually preventing terrorist attacks, why would DHS be practicing group extraction drills in downtown Fort Lauderdale? I would really like your take on this.
In my view this is either preparation for a major confrontation with Islamic forces inside our country, or preparation for martial law. To me this is a direct violation of the Constitution on so many levels, but yet no reporting is done by the MSM. Greg, how do these people sleep at night, knowing that the general public is reliant on alternative media for their news? No wonder so many newspapers are going under. The American people are beginning to wake up to the fact that they have been sold out.
Jerry,
We all knowehow this is going to end, we just don’t know when, but the time is short. As Mannarino said last time he was on “It will be Baltimore all over the world” when it finally blows up. I look for a false flag or two to get the party started. This is much global crime to cover up and assets to take. “Not since the time of Noah,” paradigm is coming.
Greg
Thank you Greg. I totally agree.
Ahh, after another smack down this morning, and at the beginning of each trading week, I don’t think we have to worry about any unprecedented increase in P.Ms until the central banks and their commercial counterparts loose control of the markets. We “stackers” are a betting against all the financial and monetary power of our current monetary system and the banks that back it up. If the centrals allowed the price of gold to pop up to $1500-$1600 an ounce my opinion is that there would be massive selling by those small holders of gold and silver back into fiat as the road is long and the can is near indestructible. When this current shearing is done the bankers will collapse the system to usher in a new one and Glass Steagall won’t be apart of it.
I don’t know where Bill Murphy gets his silver prices from, but $22 per ounce is excessive. You can buy a physical silver much closer to spot price, today, it’s hovering around $16.80.
I’m surprised someone dedicated to exposing market manipulation is not more accurate or more specific with pricing.
If you are buying insurance be careful to do your homework and shop around. There are a lot of shenanigans and rogues within the PM industry too.
Exaggeration and manipulation exists at many levels.
Raymond
The physical market and the spot price are two different animals.
Physical demand is just that…..someone wanting to buy silver.
The actual ‘buy’ price for physical is always at a certain premium over so called spot price especially if you wanted substantial quantity.
Think of it this way. The spot price of silver is a paper price where someone who doesn’t own any silver sells what he doesn’t own to someone that doesn’t want to buy silver.
I will put it another more simple way…..THE SPOT PRICE IS BOLLACKS!
Cheers
Col
NYT TRUMPETS U.S. RESTRAINT AGAINST ISIS, IGNORES HUNDREDS OF CIVILIAN DEATHS
BY GLENN GREENWALD @ggreenwald
The New York Times this morning has an extraordinary article claiming that the U.S. is being hampered in its war against ISIS because of its extreme — even excessive — concern for civilians. “American officials say they are not striking significant — and obvious — Islamic State targets out of fear that the attacks will accidentally kill civilians,” reporter Eric Schmitt says. MORE BELOW; DECIDING WHO LIVES WHO DIES!!
https://firstlook.org/theintercept/2015/05/26/nyt-hearlds-us-restraint-isis-ignores-hundreds-civilian-deaths/
THE ART OF DECEPTION: TRAINING FOR A NEW GENERATION OF ONLINE COVERT OPERATIONS
Building Cyber Magicians;
https://firstlook.org/theintercept/document/2014/02/24/art-deception-training-new-generation-online-covert-operations/
everyone is always saying that an explosive move higher in metals is imminent. It is not imminent, and we could easily see prices go lower from here. People like Jim Rogers said to hedge physical gold years ago says that gold will continue to decline below $1000. I would rather follow someone that has been right and has a history of being right. Mr. Murphy hasn’t been nearly so accurate.
Brewmaster,
How many comments spouting the same theme are you going to put up? We understand you are no believer in Precious Metals: but coming again and again – really amounts to more than comment: a counter-intuitive voice of repetition more like it.
Of course gold and silver MAY go down even more – Major banks just admitted they scam and price-rig the markets. Why is it, do you think that you can buy the Metals BELOW costs of production??? For a long time – those rigging and manipulating the Precious Metals have tried to ‘shake the weak-hands loose’, and cause people to sell their physical. You play into this very scheme by undermining confidence in metals, and among those who have endured a lot of the short-end of such manipulations.
Even as a preacher – I sometimes play the devil’s advocate, in logic or to make points: but I am careful not to be on the devil’s side. By continuously coming negatively at Precious Metals on this forum – you are taking a strong position: but on who’s side?
Hasn’t gold been confiscated before from the American people? Doesn’t history often repeat itself? http://en.wikipedia.org/wiki/Executive_Order_6102 Just asking….
Kim, yes, gold was “confiscated” in the ’30’s but only for the purpose of deliberately devaluing the dollar (gold went from $20/oz. to $35/oz.). Yes, we’ve been at that dollar-devaluation game a long time! Since the dollar “floats” today in the world markets, and since the FED can monetize debt, and with the price of gold being deliberately depressed, there is no longer any political rationale for gold confiscation, as things now stand. It would cost more to police the operation than it would be worth; all the gold in the world only makes a dent in today’s debt! I look first for the bail-in and cashless, all electronic commerce. That would hamstring the citizenry much worse than gold confiscation. What the government hates more than anything is black markets (and they will be coming with a vengeance), as the black markets represent everything government hates: freedom, lack of control, and inability to collect taxes. Best always. PM
Kim,
Someone said -‘History doesn’t repeat: it rhymes.’ I worry about confiscation, some. This is why Jim Sinclair and others suggest that you not only hold Precious Metals outside the Banking System; but also outside the COUNTRY.
Charles, who is being helped by the perma-bulls? Many have been financially hurt by buying metals when they were at their bubble highs 4 years ago. If you had any understanding of markets, you would realize that many markets often trade below their cost of production, often for years. This includes markets that are actually consumed, such as grains. Gold is not consumed for the most part, and the supply at any given point is the total of what has been mined throughout history minus the small amount lost or consumed. Production rising or falling a few percent is irrelevant. I don’t understand your first sentence, as I only have 2 comments out on this story. As far as being on the devils side, those touting to buy metals 4 years ago may be the ones on the devils side as they hurt so many people. Also, I am not at all against precious metals. I am licking my chops to load up on silver at 11 bucks and gold at 900. Is Jim Rogers evil for telling people to hedge off their gold holdings hundreds of dollars higher? I don’t understand your logic at all.
Brewmaster,
Markets may trade below their costs of production: but is this feasible? A market cannot exist where no profit is made. Market value swings may boom or bust: but an average, profitable margin above production costs must be upheld. Any market that keeps operating after YEARS (?) in the red – has to have deep, deep pockets or draw credit from a well. There are quite a few knowledgable men who state that PMs are under the value of production. The monkey-wrench here is MANIPULATION.
The “paper” naked shorts (placed and immediately removed; or absorbed by partners) in the Market are precluding any honest price discovery. And this has gone on for YEARS – so that, with the Shanghai Gold Exchange: the game is drawing to an end.
As for those “touting to buy metals four years ago”… “as they hurt so many people”: I must disagree. If you walk unto a Used Car Sales lot, and parlay with the staff: are they the ones that hurt you if you decided to buy an over-priced, lemon of a car? No. You hurt yourself through not doing your homework and making a good decision. Similarly, those who bought four years ago may have not done very well on their purchases: but if anyone “hurt” them – it was they themselves.
Jim Rogers is a player – he’ll buy and sell, margin this and that – he probably has an ample bit to play with that isn’t a threat to his portfolio. Some have suggested to sell the advances and buy the dips – but what happens when the plug is pulled and sellers won’t sell; one gets caught with their pants down, and hands empty. Hedging or leveraging now??? As I said: the game is getting late.
Your comments are strong statements, which follow the market manipulations – where nobody has ever found the correct Crystal Ball to prognosticate. By SUGGESTING to hold-off until market price goes way down to load up – I have two impressions. One is that you really don’t intend to do this at all, and that you are just throwing this out as a fishing hook for all who would bite. Or IF you really WILL follow your own advice (?) – there’s a good chance you’ll come up with an empty sack.
And I don’t understand your logic. You subtly ridicule believers as ‘perma-bulls’ who followed Bo Polny years ago; but can’t wait to load up at an absolute bottom? Are you just ridiculing those here because of TIMING? Or are you insinuating those who bought early are losers because what money to be made won’t be as much or isn’t realized yet?
Again, you are stating a strong position that the time too have and not buy is not now, but when prices dip to absurd levels. I view this as a counter-intuitive suggestion. The Musical Chairs melody will stop; world demand is high: and those suggested levels may never come. And those who might buy now and hold something, if they do as you suggest, but never sees the time or levels to buy: will be out in the cold. Possibly your suggestion or comment will leave a few with nothing; rather than others who DO have ‘over-priced’ metal in hand. If this realizes – your suggestion will be more harmful than those you ridicule.
Greg,
Thank you for your work. I would like to share a few thoughts and am grateful to be able to do so.
Firstly, regarding Seymore Hersh’s recent article, in my mind it brings to light a term I like to call “Obama-tale” Had it been announced that Bin Laden died in 2001, the ultra-rich would never have gotten their war. Alternatively, had they waited too long to announce his death, the legitimacy of our military presence overseas would be questioned. Hence, “Obama-Tale”
Secondly, I believe that the internet may have arrived in the nick of time to save our democracy in America. I envision an online forum, with individual pages for each and every elected office across the society. Candidates would be free to post information on their page as well as host a forum. People want representation in their democracy, (think supply & demand.) I believe some in your audience may have a will for such a project.
Greg,
David Stockman’s website is a wealth of information that explains the downward momentum of this economy. It explains a lot of the distortions we are seeing that our govt sources are putting out there.
The more I read of the information on his website the more I see how Russia/China are sitting in the drivers seat having not been overly exposed to the destruction of Keynesian economics…
Look wath BCE thik about gold
http://www.ecb.europa.eu/press/pr/wfs/2015/html/fs150414.en.html
and we are talking allocated phisical as reported by
https://www.bullionstar.com/blogs/koos-jansen/austria-expresses-great-concern-over-gold-at-boe/
svoboda59
Greg, love your show your doing a great job and I really appreciate it. You always ask your guest ” why now? “, or “what are they trying to get out of this?”. I always keep in mind that the name of the game is the destruction of the dollar to facilitate the destruction of the U.S. to make way for the new world order. Everything that we see now should be viewed with that goal in mind.
Again, thanks a lot and keep it up.