19 December 2014
Gold and silver marked time today.
Next week will be short and quiet, unless *something happens.*
The economic calendar has a few things on it. It is included below.
Russia added 600,000 ounces of bullion to its gold reserves in November.
The major preoccupation of the mainstream media this holiday season is the ability of Americans to watch an asinine movie, in incredibly poor taste, about the government sanctioned murder of the actual head of state of another sovereign nation, just for laughs.
Well, it provides a distraction from reality. And besides, we called no hackbacks.
Have a pleasant weekend.
Posted by Jesse at 4:33 PM
18 December 2014
'It's actually an easy decision if you are a fiduciary.'
Especially if you take the duties of a fiduciary for other people's assets seriously.
What about the fiduciary responsibilities of central banks? Hard to say, right?
We'll get right on that-- in about seven years. Jawohl! And no need for an audit. We believe.
And as for private citizens, when and if the time comes when there is a 'run on the bullion banks', I would not be surprised to see forced cash settlements, and 'bail ins' with even allocated receipts being taken.
Does this seem unlikely, improbable?
Posted by Jesse at 7:41 PM
"Any investor or analyst of any world commodity must be able to account for and rationalize a 9% price move in less than two trading days; otherwise he or she couldn’t possibly understand the dynamics of that commodity. Yet I received virtually no requests to explain the price drop.The facts are clear – the price of silver did decline by nearly 9% and there were no actual supply/demand developments to explain the decline. Therefore, something else had to account for the sudden silver price decline and judging by the lack of readers questioning why, the actual cause of the decline must have been fairly widely known.Of course, the only possible explanation for what would normally be a massive price drop in any world commodity is trading activity on the COMEX. While this is nothing new to subscribers, my sense is that COMEX price rigging has reached such an incredibly dominant influence over the price of silver (and other commodities, like gold and copper) that it is more widely understood than ever before.I believe it has gotten to the point where it is impossible to even attempt to offer an alternative plausible explanation for large price moves in silver and other metals apart from COMEX trading without looking like a fool. I also believe that the growing and widespread recognition that prices are set on the COMEX greatly undermines the life expectancy of continued future price manipulation."
And in this analysis of the market, Ted is absolutely right, giving a nod to some cross currency actions.
The Anglo-American banking cartel is effectively setting the key prices for the world, in a sometimes arbitrary, almost capricious manner, according the intent of its policies and the private profits of its Banks.
And woe to the country that fails to use the United States Dollar for whatever they may choose to buy or sell under the two great empires, of the sea and of the earth. For those with eyes and ears open, let them see and hear.
But empires rise, and rage for their time upon the stage, and fall.
The glory that was Greece, and the grandeur that was Rome.
"And for all this, nature is never spent;There lives the dearest freshness deep down things;And though the last lights off the black West wentOh, morning, at the brown brink eastward, springs —Because the Holy Ghost over the bentWorld broods with warm breast and with ah! bright wings."Gerard Manley Hopkins
Ubi sunt? Where are they now?
Have a pleasant evening.
Posted by Jesse at 4:46 PM
There was intraday commentary about this stock market rally here.
With a little follow through that might be it for now. The market will most likely get quiet after tomorrow with an upward drifting bias. It probably has more upside into year end and maybe even the first week in January *unless something happens.*
Reading this market as some indication of economic fundamentals is a mistake.
We are in the midst of a white collar crime wave. It will not end well.
Have a pleasant evening.
Posted by Jesse at 4:22 PM
Posted by Jesse at 1:51 PM
David Cay Johnston is an American investigative journalist and author, a specialist in economics and tax issues, and winner of the 2001 Pulitzer Prize for Beat Reporting.
Since 2009 he has been a Distinguished Visiting Lecturer who teaches the tax, property and regulatory law of the ancient world at Syracuse University College of Law and Whitman School of Management.' From July 2011 until September 2012 he was a columnist for Reuters, writing, and producing video commentaries, on worldwide issues of tax, accounting, economics, public finance and business. Johnston is the board president of Investigative Reporters and Editors.