Author: gork

Thank You Jamie Dimon for Illegally Smashing the Gold Price Again   [Copy link] 中文

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Post time 2018-5-6 15:08:42 |Display all floors
Eazy Peazy; Lemon Squeezy

As Gary North has pointed out, the Great Satan is so heavily indebted that it will have to default. Laurence Kotlikoff claims the Great Satan unfunded liabilities are $220trn. The on-the-books liabilities are $21trn.

North points out that inflation is a stealth tax and therefore the most politically viable way to default rather than an outright default. He claims it's "100% guaranteed". But it's worse than that. Western nations are already outright defaulting on pensions obligations by raising retirement ages. So inflation is 200% guaranteed.

Whilst the BS claims the FED is fighting inflation. Others have pointed out that the only possible source of inflation IS the FED. Whilst they claim inflation is only in the region of 2%, anyone who looks at the price of housing 30 years ago, can plainly see that inflation is closer to 7% and the S is only just H-ing The F.

Given this guaranteed inflation of about 7% per annum and gold's inevitable and inexorable rise in price which is, most importantly, compounded year after year after year, you'd have to be completely stoooopid not to be holding gold as a long-term investment to be hoarded.

This is why the propaganda articles all claim that buying a house is cheaper than renting. What all these propaganda articles fail to mention is the income you receive from investing the capital. After all, Germans mostly rent rather than buy. Are Germans supposed to be stooopider than Anglo/Amerikans? They don't want you selling your house, taking the capital and investing it.

Here's the statistics for gold over the last 15 years:

End of year price (in "nitroglycerine" poodles), LBMA afternoon fix:
Last spot price: 971.79,

These prices can be double-checked at:

Here's the average a.p.r. return for each year, again counting down and referenced to 2003:

2018 ytd: 10.19%,

Here are the same statistics for "worthless paper" USD:

2018 ytd: $1314.89,

And the average a.p.r.:

2018 ytd 7.98%,

Can you imagine getting those rates of return from a hedge fund? Can you imagine having those sorts of return being virtually guaranteed for the future? WELL THEY FREAKIN' ARE YOU SUCKERS!
Compounding is the magic ingredient.

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Post time 2018-5-7 00:57:33 |Display all floors
A popular call in the US is for Dimond to put to work in useful fashion-on an old fashioned chain gang-good idea.

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Post time 2018-6-4 21:58:02 |Display all floors
P.I.G.: Three Golden Guarantees
- and the shysters telling you not to hold gold

Alasdair Macleod admits he once touted the quackery that is "technical analysis" and which is akin to killing a bird and reading it's entrails to predict the future.

Here's his attempt to spin World events and his denial of a far higher gold price: There is irrefutable evidence that China has been planning for a post-dollar world since shortly after her leadership threw in the towel on communism and embraced free markets.
- The Quiet Revolution: Gold's Monetary Rehabilitation Is Building

That Alasdair Macleod should adopt the language of the hackneyed propaganda that cites "communism" vs "free markets", should be a clue that he's full of it and by "it", I of course mean BS. Also, conspicuous by its absence is any comment in the anglo/zionist propaganda of the Great Satan lifting the 40 year ban on crude oil exports and converting LNG terminals for export rather than import from the gangster-run, thieved prison-state of Amerika, not to mention the illegal wars started in Ukraine by Victoria "F**k the EU" Nuland and George Soros and Syria, which is, clearly, confirmation that the petro-dollar is dead, if not already buried.

Here's the shaky foundation on which Macleod bases the crux of his BS: The regulations appointing the People’s Bank with sole responsibility for gold and silver date all the way back to 1983, since when we can confidently assume the PBOC has quietly accumulated gold on behalf of the state at prices that varied between $250-500 over a nineteen-year period. We know this, because in 2002 the PBOC then permitted private ownership, setting up the Shanghai Gold Exchange to facilitate physical acquisition. This would only have happened after the state had had a clear run at accumulating sufficient physical gold for its future purposes.

Macleod then makes huge assumptions, more shaky foundations, much as shyster, Albert Einstein, did in his quackery on on relativity: My estimate for state ownership of bullion, based on contemporary prices, an analysis of capital inflows in the 1980s, followed by trade surpluses in the 1990s and before the public were permitted to buy in 2002, is approximately 20,000 tonnes.

And yet more BS, cherry-picking "currency in circulation" rather than monetary base of money supply: Even so, that may be not be enough gold bullion owned by the state at current prices to operate a simple gold exchange standard, being the equivalent value of ¥5.22 trillion, compared with currency in circulation of ¥7.15 trillion. For comparison, when President Roosevelt devalued the dollar to $35 in January 1934, the US Treasury held gold worth $7.44bn at the new price against currency in circulation of $5.72bn.

The house of cards built on the above BS foundations is a price for gold which could only be called, "unambitious": Therefore, if the Chinese government has 20,000 tonnes, and if it is to have the same currency cover as America had on 31 January 1934, at current exchange rates gold would have to be priced at $2,317.

The distraction from gold, buttcoins, went from $1,000 to $20,000 in less than a year and has now crashed to about $7,000. Meanwhile, gold is actually down 2% measured in "nitroglycerine" Poodles and only up 2.5% measured in "worthless paper" USD. By comparison, China imposes a 2% DAILY limit on her currency relative to the "worthless paper" amerikan gangster funny-money. The tight control over the gold price shows the banksters are soiling their masters of the universe underpants. It is highly likely that the stable price is designed to deter investment, just as the rocketing price of buttcoins is designed to draw in the suckers just before the crash.

Jiminy Rickards is even funnier: Excessive Federal Reserve money printing from 2008–2015 combined with projected U.S. government deficits over $1 trillion per year for the foreseeable future, and a U.S. debt-to-deficit ratio of 105% rising to over 110% in a few years, leave the U.S. dollar extremely vulnerable to a collapse of confidence on the part of foreign investors and U.S. citizens alike.
- “Money Is Gold — and Nothing Else”

The "collapse of confidence" in paper funny-money is what I would define as a hyperinflation. Very obviously, the negative interest rates (but only on excess reserves) by the ECB and BoJ are designed to deter flight from the "worthless paper" USD, whilst Brexit and now Quitaly are also designed to support it. A hyperinflation of the "worthless paper" USD is what Egon Von Greyerz is now predicting: "WILL POVERTY, DISEASE AND WAR LEAD TO 3 BILLION FEWER PEOPLE?" So what does Rickards recommend?

I recommend that investors keep 10% of their investable assets in physical gold (with room left in the portfolio for “paper gold” in the form of ETFs and mining stocks).

Like Macleod's gold price, this could be called "unambitious". Mark O'Byrne of Goldcore reports that some are only holding gold and only selling when they need some spending money.

But for the "worthless paper" USD, Rickards recommends: For purposes of simplification, we’ll assume the overall portfolio contains 10% gold, 30% cash, and 60% equities. Obviously those percentages can vary and the equity portion can include private equity and other alternative investments.

Yes folks, Rickards says the paper funny-money will become worthless, so you should hold 10% of your wealth in gold but 30% in the "worthless paper" USD.

Yet, gold is "cold, hard cash"; the safest financial asset of all. Why would you hold 60% of your assets in shares which are clearly in a bubble (Amazon is an extreme example with 1,000:1 p/e ratio), or 30% in paper funny-money which Rickards claims will become worthless? It's not as though a dutch pension fund WASN'T ordered to sell gold to avoid losses and when the price of gold rose DIDN'T sue the dutch government for the loss. It's not as though the Great Satan and its poodle DIDN'T start two World wars in order to defraud the entire planet with what the Germans in the 1930s derided as "jew confetti".

Furthermore, gold has a lot going for it.

"P" is for Peak Gold: Funds for exploration are historically high, $54.3 billion, up 60 percent over the past 18 years.
. . .By 2010, only 18.6 million ounces of gold was discovered, a severe drop from the 61.5 ounces found in 2009.

- Global Gold Mining Supply Looks Set To Decline

That 61.5 ounces (presumably millions of ounces) was the peak discovery so far this century according to the above article. Yet it's only 1,913 tonnes against annual mining of about 3,000 tonnes and it's not as though it will all be mined in one year. China's consumption is almost 2,000 tonnes and India accounts for the rest. Only scrap supply satisfies demand for the other two thirds plus of the World population.

It's possible that existing mine supply could continue to feed the market demand. But already there are signs that existing sources are also struggling. China's annual production, the World's largest, has plateaued for the last three years at about 450 tonnes. At it's peak in the 1970s, South Africa produced over 1,000 tonnes a year. Yet in 2017, Metals Focus reports that it only produced 157 tonnes despite mining as deep as 5km below the surface: "Gold Production On The Cusp Of Peaking" and is now in 7th place behind Peru. Russia has just announced she will double gold production and overtake the gangster-run, thieved prison-state of Auztralia to take 2nd place. This is similar to the poodle state announcing a series of auctions of gold in 1999 which saw a 10% fall in the price of gold between the time of the announcement and the first auction. James Turk's "More Proof" article showed that the poodle-state actually IMPORTED gold around that time. In other words, the poodle state had sold the 700 tonnes of gold long ago and the "sale" of gold was actually just settling gold leases in paper funny-money, whilst buying the 310.3 tonnes it now declares as its gold reserves and it's why Gordon Brown declared that he "got a good price" for the gold.

"I" is for inflation. As I posted above, the "West" is so heavily indebted that it will have to default and as Gary North pointed out, default via inflation is the easiest way, politically, to do so. This entails raising the price of goods and natural resources, so will inevitably impact the gold price. Like peak-gold it guarantees a far higher gold price.
. . . continued
Compounding is the magic ingredient.

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Post time 2018-6-4 21:58:45 |Display all floors
. . . continued

As I posted above, gold has achieved over 10% measured in "nitroglycerine" POO and almost 8% in "worthless paper" USD over the last 15 years and as Einstein joked, "compounding is the most powerful force in the universe". The monetary base of the Great Satan has increased from $6bn in 1928 ("The Monetary Base During the Great Depression and Today") to today's $4.4trn. So that's an average rate of 7.6% compounded (the Shyster of Omaha has only achieved about 6% over the last ten years despite the ridiculous rise of Berkshire Hathaway shares which pay no dividend and are, therefore, a Ponzi scheme). Any claims of price inflation being around 2% are clearly a complete crock of s**t!

And if they didn't implement inflation, then there would be no point in having paper funny-money; they may as well adopt a gold standard anyway. Like the "platinum coin" idea, revaluing gold far higher would give the heavily indebted West breathing room to adjust for the new gold standard which is obviously coming. I've previously posted that Universal Basic Income wouldn't be adopted by fascist nations such as the Great Satan and its poodle, but UBI could impose far less consumption by the sheeple if a higher proportion are effectively on welfare and not wasting money doing "non-jobs".

"G" is for gold standard. Even if it's not de jure, it's de facto. As Alan Greenspan said to Ron Paul, the World is effectively on a gold standard anyway; nations can dump paper funny-money and buy gold. But the Great Satan can no longer force nations to accept the "worthless paper" USD which it started two World Wars to impose on the World at the Genoa Conference in 1922, then Bretton Woods in 1944. As Macleod points out, the more the Great Satan attacks nations the more they will seek to distance themselves from the "worthless paper" USD and the control the Great Satan has over it. Venezuela has even backed her Petro with gold and oil. Only a fixed exchange rate between paper funny-money and gold is missing. China and Russia are already attracting other nations to adopt alternatives to SWIFT and the "worthless paper" USD.

So with the three guarantees above for a far higher gold price, we find it's barely moved over the last 12 months! Except in 2016, the year of the Brexit, gold rose over 30% measured in "nitroglycerine" Poodles.
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Post time 2018-10-28 18:04:33 |Display all floors
- something's got to give

The Great Satan has been conducting various measures to avoid a hyperinflationary run on the "worthless paper" USD.

It has imposed the FATCA tax to stop capital outflow and block Amerikans from banking overseas. In other words, dumping the "worthless paper" USD for an alternative currency.

It has attacked swiss banking secrecy to stop Amerikans from dumping "worthless paper" USD for swiss Francs.

It has the TSA gropers blocking all the exits to stop Amerikans from taking valuables overseas.

It has had the ECB and Bank of Japan impose negative rates on deposits to stop Amerikans dumping the "worthless paper" USD for Euros and Yen.

In addition it has been extorting cash out of BNP Paribas, Toyota, BP, Volkswagen and now ZTE paying a $1bn "fine" for trading with Iran despite the JCPOA being in force at the time and which guarantees Iran's trade would not be prejudiced.

Shale oil is being sold at a loss. The junk-bonds to fund this scam were sold off to amerikan "muppets" and now amerikan saboteur Bobby Dudley has purchased them on behalf of BP shareholders.

Whilst the poodle state rigged the Brexit referendum to isolate itself, the Great Satan has the war criminal The Donald and his tariffs. He even emphasised the "reciprocal" nature of the tariffs, thus tacitly admitting they were a violation but suggesting victims could retaliate. China is suing the Great Satan at the WTO for these violations.

As well as the farce of the amerikan prison-warders (the so-called law enforcement) robbing the sheeple on the highways, the NSA has created buttcoins which aren't even viable as currency as one blockchain lekturer in Amerika has pointed out. Note how max. Kiester and former sleazebag CFTC commissioner, Bart Chilton, are heavily peddling buttcoins every single day. Look at how Asia Times Online, which self-confessed zionist and self-confessed former bankster, David P. Goldman, admits he's commandeered, is peddling krapto-currencies non-stop. What kind of species of skank resorts to fraud on a national basis like this??!!??

But now the ECB plans to normalise interest rates by the end of the year and the BoJ is also tapering QQE. War criminal, Auntie May, has even announced an end to austerity, though the poodle state STILL hasn't managed to balance its budget as it promised to do by fiscal year 2015/6. Just exactly what kind of wind-fall is she expecting?

China, meanwhile, has instituted the petroyuan. But because we Asians can't innovate, China doesn't know how to accept payments in yuan for crude oil. Instead, payments continue to be in "worthless paper" USD. Reuters, however, says that will change as soon as this year.

The Great Satan cannot borrow from the markets, certainly not at the low rates of interest that it can sustain. In the fiscal year just ended, Great Satan debt increased from $20.245 trn to $21.516 trn, or $1.271 trn. Interest payments were $523bn, so there's no way the Great Satan can afford higher interest rates.

The Great Satan has three options:

1) balance the budget,
2) yet more QE, which will cause the hyperinflationary run on the "worthless paper" USD, or
3) gold-backed bonds as suggested by war criminal The Donald's economic advisor during his campaign to be selected as POTUS by the electoral college in defiance of the sheeple vote.

As it can't balance the budget without imploding the Great Satan quackonomy and QE5 (following QE1, QE2, QE-lite, QE Infinity and QE4Ever) would result in the hyperinflation they're so desperately (and pathetically) trying to avoid, the only option is gold-backed bonds to achieve the low rates of interest needed to roll-over the tens of trillions it is borrowing each year, mostly in short-term bills. That effectively means gold-backed USD. By paying coupons in gold, holders of Great Satan bonds would be indemnified against inflation, assuming the Great Satan doesn't default YET AGAIN as it has done so many times; the biggest in all of history being war criminal, Nixon's 1971 default.

The additional problem is it doesn't have any gold. The latest default is the 600 tonnes it owes China, having defaulted on Germany's 300 tonnes in 2013 for five years. Either way, (hyperinflation or gold-backing) gold will have to be revalued far higher. Is THIS war criminal, Auntie May's, wind-fall? Note how the poodle state has held on to it's 310.3 tonnes of gold even whilst selling everything INCLUDING the kitchen sink in a doggie death-spiral firesale. The Great Satan has also sold off shares to the Swiss National Bank.

The  bullion banksters have become net long for a record period, having only gone net long for the first time ever in Nov13. This is a record 15th week net long and counting! The hedge funds have used muppet-money to go net short at the same time and lose money (well, paper funny-money). The two groups were net long/short by a record amount until the market's mini share crash these last two weeks, when gold rose throughout the day most days. So much for the Efficient Market Hypothesis and free-markets!

Furthermore, returning to the classic gold standard is only a temporary measure, unless the Great Satan (and it's mini-me poodle state) manages to balance it's trade deficit.

A return to a gold exchange/standard won't do. The Genoa Conference scam in 1922 and the Bretton Woods scam in 1944 imploded because they encourage central banks to hold sovereign debt rather than gold. Because the fiat paper was convertible into gold there was no inflation to worry about. But it also meant there was no correction of trade imbalances when gold was exported by deficit nations (and imported by surplus nations) and which represented the monetary base. Deficit nations held on to their gold and didn't contract the monetary base. In 1931, there was a run on the poodle as everyone demanded gold, so the only fractional-reserve ratio was 1:1. With a monetary base of over £500bn, the gold price would have to be at least £50,000 per Troy oz.

Also, the peak gold find this millenium was only about 500 tonnes in 2009. A higher price was "guaranteed" according to Goldcore.
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Post time 2018-11-6 05:44:36 |Display all floors
Gold is for the patient, not nervous rabbits.

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Post time 2018-11-7 15:14:48 |Display all floors
Another Krappy Quarter At Berkshire Hathaway
- yet more gold defaults

Berkshire also gained from a lower corporate tax rate as operating profit climbed to $6.88 billion, up from $3.44 billion in the third quarter of 2017.
- Berkshire Profit Surges as Buffett's Insurers Weather Storms

Yes folks, the Shyster of Omaha has achieved a krappy 5% or 6% and it's a "surge" from the suspiciously exactly half of the same quarter from the previous year.

Even then, the krappy performance was MASSIVELY boosted by the permanent tax-cut for the rich that self-confessed crook, Gary Cohn, implemented, producing two-thirds of Berkshire Hathaway profits the previous year.

The Shyster of Omaha has massively underperformed "pet rock" gold, meaning that, not only has he underperformed the market over the ten-year bet with Protege Partners, but both he and shares have lost money in real-terms over those ten years.

As Peter Schiff points out a company like Berkshire Hathaway that doesn't pay dividends is essentially a Ponzi-scheme. Even Bernie Madoff paid out 5% every year until his Ponzi-scheme imploded.

Even then, gold should be far higher. The Great Satan and its mini-me poodle state continue to operate rigged gold-markets which are closed-shops unlike China's SGEI, where all can participate and all sales have to be backed by physical gold.

The Great Satan defaulted on 300 tons of Germany's gold for four years and now the poodle-state is refusing to give Venezuela 160 tons of her gold back: The Bank of England has sought to clarify what Venezuela wants to do with the gold, one of the officials said.
. . .
The plan has been held up for nearly two months due to difficulty in obtaining insurance for the shipment, needed to move a large gold cargo, one of the officials said.

- Exclusive: Venezuela seeks to repatriate $550 million of gold from Britain - sources

So, just as the Great Satan refused to allow Germany to inspect her own gold, held hostage at the JY FED and then claimed it would take seven years to transport a mere 300 tons, the poodle-state has the temerity to demand an explanation from Venezuela for what she wants her gold back for (stalling) and then offers the lame-assed excuse that they can't find insurance to cover it (more stalling).

The poodle-state is supposed to have 310.3 tons of gold but obviously it has been encumbered. The poodle-state has legalised "infinite re-hypothecation" or collateral-fraud.
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