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Tuesday Views from Gary

Big Al
December 2, 2014

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127 Comments
    Dec 02, 2014 02:12 AM

    Another strange big move in GLD:
    08:17 $ 115.26 174,674 shares (pre-market)

    Dec 02, 2014 02:23 AM

    Gary

    Cory is going to take your job 🙂 . He’s trying to give you his valueless technical opinion.

    Peter

      Dec 02, 2014 02:25 PM

      Now, now Peter. Cory is actually studying this quite fervently.

      On this site everyone is smart enough to realize the value of others!

    Dec 02, 2014 02:23 AM

    Explanation to up day on Monday.
    Raj the Indian governor has killed Raj killed the 80-20 import/export rule on Friday that was constraining gold imports to India. Cartel knowing of the fact that this would be gold positive during thinly traded markets murked gold lower. On Monday shorties took a short covering dump and gold went up on that short covering rally, or simply on news of Raj export rule.

      Dec 02, 2014 02:35 PM

      Turns out it’s more like Moody’s downgrade on Jap Bond than from India…?

    Dec 02, 2014 02:31 AM

    Peter, you are asking for trouble. You may end up getting exiled from this site.
    Watch it!

      Dec 02, 2014 02:34 AM

      James If I want your opinion I’ll ask for it.

      Peter

      Dec 02, 2014 02:25 PM

      Huh? Exiled from this site?

    Dec 02, 2014 02:36 AM

    james my comment was directed to Gary :).

    Peter

    Dec 02, 2014 02:43 AM
    Dec 02, 2014 02:45 AM

    My biggest winner today is my bet against HOG, of all things!

    Dec 02, 2014 02:50 AM

    Gary… the miners….. ?!1 A bottom… cmon.

    Dec 02, 2014 02:53 AM

    Cory gold & silver did fine today so far—- & dollar way up..

      Dec 02, 2014 02:26 PM

      They continue to do fine, Sally.

    Dec 02, 2014 02:54 AM

    Interesting article about stock market seasonality for the month of December.

    http://fat-pitch.blogspot.com/2014/12/low-odds-of-big-fall-in-december.html

    Everyone will be taken off guard…..just like MONDAY……..many were asleep, and it will be so again………………..

    ANYBODY….listen to Kirby at watchdogusa…….were he talks about the 50% SPOT PRICE……????????????

    UKRAINE …..the CENTRAL BANK Head…..is going to be hauled into court….the people are ticked off…………………..I say, BLACK SWAN TIME……….read at Sinclair….today

    Dec 02, 2014 02:14 PM

    Yes Jerry I heard it and was impressed until I read some of the posts, which seemed to imply that Kirby was on another planet. However the essence of what he said was that gold in Asia sells for 50% over spot, i.e. gold at of a minimum of sells at $1800 an ounce; that the Canadian mint cannot provide enough silver for silver maples; and that the financial elites are struggling to buy more time to perpetuate their massive frauds, and that the hallmark of the central banksters is built on so many lies this is a fight to the death even by nuclear war if need be.

      The Ukraine Central Banker….is going to find that he will be fighting to the death…

        ps………you should not believe all the post……….just like here……..jmho…….j

          Dec 02, 2014 02:28 PM

          Just like here? Common Jerry. Just because I made the comment about Las Vegas!

      Dec 02, 2014 02:36 PM

      Rev,

      I can tell you that most guests that Greg Hunter interviews say things that they are clearly wrong about. Greg Hunter is wrong himself at times. Most of the people he interviews need to be taken with a grain of salt.

        name some……………….

        most………is a problem word…………

          Dec 02, 2014 02:54 PM

          Jerry,

          Besides BO, Jim Rickards, Michael Snyder, Bill Holter, Professor Laurence Kotlikoff

          Read my comments that I posted on the Michael Snyder interview on USAWatchdog.

          http://usawatchdog.com/permanent-damage-to-us-economy-michael-snyder/

          I even posted my comments about that interview on this site back on October 22 which even Al agreed with. Did you miss my comments back then?

          Bill Holter said in his interview on Sept. 3 that in Cyprus, the depositors lost 87% of their funds. That is not true. No one lost money in Cyprus who had 100,000 euros or less, which was insured,. Only people who had amounts over 100,000 euros lost money. So no, most depositors lost no money.

          I am not going to go through a list of each person and what they said that is not accurate or true. It is not my problem if you want to believe everything they say on such sites.

          Oh, and that Ann Barnhardt is silly. She stated in that 8 part series “The Economy Is Going To Implode”, that you recommended, that the U.S has not had one quarter where the GDP was 5% or more since Jimmy Carter (Part 8 at 2:20). That is false. We had a number of quarters above 5% since Carter. A few were around 9%. How could she get something so simple wrong? She also said else where that bond yields were negative. No, they were and are positive.

        Dec 02, 2014 02:05 PM

        Thanks JMiller. I’ve had personal experience of my posts being deleted by GH because my views clashed with his over Gaza. I sense he garners a coterie of supporters whilst eliminating any whom he and his cronies conveniently brand as shills.

          I am not a supporter …….but, I do like that he has information available…..for FREE, that you can do your own DD on. But, since, his site is FREE, like AL’S site,,….GH, can use his DELETE BUTTON anytime he so wishes, since, it is FREE……jmho……….j.

            Oh,,,I have not been paid a dime ….to endorse or defend…………..lol

            Dec 02, 2014 02:01 PM

            I myself still go to his site because sometimes there is something worth hearing. I just find some interviews have too many inaccuracies that should not even happen.

            JMiller……….you should know more than any……………all men are flawed……..

            Dec 02, 2014 02:20 PM

            Yes, but those kind of errors should not even happen if these people really knew what they were talking about. If they can’t even get some simple facts right how can you trust what they say that you can’t confirm? You do not. You take what they say with a grain of salt.

            Like does anyone ….really know what is going……Trust but verify……..and since we offered the topic……….you have done some investigative work for us, which we appreciate…………Now, we can say….these men are not trustworthy.

            Dec 02, 2014 02:47 PM

            Jerry,’
            YOU ARE ON FIRE MY FRIEND….I wouldnt waste anymore energy…hahaha

            SD…….you are to funny…………appreciate……j………..he,he,ha,ha, lol….., btw, IRISH is talking to me again………….we are trading comments…….like old times….

            Dec 03, 2014 03:31 AM

            Doesn’t say much for free speech Jerry.

          GOLD……………….UP OR DOWN……….DEC 31,2014…..what say ye………..

    LPG
    Dec 02, 2014 02:20 PM

    Hello all,

    I don’t know this Kirby or wh(o)atever.

    But COULD IT BE that gold in Asia is selling at $50 over spot as opposed to 50% ?

    Personally, 50% doesn’t make sense to me. There’s enough arbitrage opportunities, IMHO to make this $1800 non-believable.

    But $50 over spot, in times of strong demand, that is entirely possible, IMHO (I’ve experience that at some point last year with my dealer).

    Best to all,

    LPG

      You need to go and listen to the review at………….watchdogusa……., and the answer to your question concerning the number 50…..is %%%%%%%%

        btw……….Kirby…..has a reputable background…….from what I have reviewed……j…

          but,,,,I have a lot of tin foil in stock………………

          Dec 02, 2014 02:29 PM

          Sometimes it is slip of the tongue. I heard a lot of people saying billions and mean trillions. No big deal. I wouldn’t pick on someone just because he said one wrong word. I think he is right about that the government is NOT honest. There are a lot wrong in the current system. It is naive to think everything is alright.

        Dec 02, 2014 02:34 PM

        I find that number to be a bit nuts unless it is in some very exotic form!

        That is why they call me “Wise Owl”

      Dec 02, 2014 02:52 PM

      I think Kirby is talking about buying a large amount of gold at one time, like a ton, which he says is hard to find and the premium is at least 50%. Could be true.

      From what I read elsewhere there is plenty of gold for sale in China but in much smaller quantities at reasonable premiums.

        do you want to retract your statement above………or is this a CYA…..

        LPG
        Dec 02, 2014 02:15 PM

        JMiller,

        If my calculations are correct…

        1MT of gold = $38-39mn at current market prices…

        If someone has that money, why would it spend $1800/Oz ?
        Unless that person knows gold will be at that levels in the next very few weeks and can’t accumulate it within this timeframe OR that by the time he’s done w. buying 1 MT, his average cost will be more than $1800…

        IMHO, if one in China has $40mn to spend on buying gold, that person can easily afford to get the gold from abroad. A trip to some place in Switzerland might sort things out at less than $600/Oz…

        I still think this stuff doesn’t make sense – at all.

        Best,

        LPG

      Dec 02, 2014 02:33 PM

      Like to have you on our Show LPG. Please reply to my e-mail. (alkorelin@gmail.com or to Cory at fleck@kereport.com

    Dec 02, 2014 02:23 PM

    I bought some JNUG calls at the lows today. Talk about leverage!

      Dec 02, 2014 02:30 PM

      That a boy matt.

        LPG
        Dec 02, 2014 02:33 PM

        +1 Glen.

          Dec 02, 2014 02:01 PM

          Good job Matt

          I’m disappointed it’s down. Lack of strength concerns me

        Dec 02, 2014 02:37 PM

        Glen,

        Please e-mail me your correct e-mail address as the one I have shows up as an error on the newsletter mailing list. (alkorelin@gmail.com)

        Thanks

      LPG
      Dec 02, 2014 02:32 PM

      GL with this trade Matthew.
      LPG

    LPG
    Dec 02, 2014 02:24 PM

    Just to elaborate…

    If gold sells at $1800 in Asia, someone please tell me where.

    I’ll load up where I leave and take a plane ticket tomorrow first thing for that place in Asia. And I’ll do it 3 times over the next week !
    Even if I have to pay 10, 20 or 30% import duty, at the current $1200/Oz, it’s still worth it for me.
    That’s what I call the “arbitrage opportunity” and why I think this 50% premium should not be believed.

    Best to all,

    LPG

    PS: I ain’t going to Asia anytime soon as I think this 50% thing is BS and $50 instead

    Dec 02, 2014 02:28 PM

    I think its much better to turn the television off and computers off and in a month we will be higher. This day to day is not for the faint. Up down up up down down down uppppppp down etc etc..

    Here is a friendly wager form this friendly glen..I bet a pint of Cold canadian 🙂 that we move hard up tomorrow. Yes yes I know lawrence will say here we go again with predictions. But please let me tell ya that I have looked and dug up some old charts and cycles and yada yada from the old treasure box and it is not telling me but showing me similar patterns of which i really really like. Bullish patterns.

      Dec 02, 2014 02:21 PM

      Hey.. man.. can I get that pint of Cold canadian (add Guinness on top if you will be a little more generous) regardless of price direction tomorrow?.. :D…. GL Glen

      LPG
      Dec 02, 2014 02:20 PM

      +1 Glen on the up down up down.

      Cannot comment on the yada yada from the old treasure box though. 🙂
      But if you feel like posting them, I’m game 🙂

      Hope you have a nice pint tomorrow.

      Best to you,

      LPG

    Dec 02, 2014 02:11 PM

    I’ll take that wager. No way is gold and silver up tomorrow with GDX/GDXJ getting smoked toady.

      Dec 02, 2014 02:16 PM

      Duke,

      You seem very confident, good thing it’s only 1 pint :).

        LPG
        Dec 02, 2014 02:21 PM

        lol glen !

        Dec 03, 2014 03:09 AM

        Looks like I owe you a pint! Double or nothing for tomorrow?

      Dec 03, 2014 03:09 AM

      $1204 Dec 3rd Duke at 8.10 GMT.

    Dec 02, 2014 02:12 PM

    We still should get the big plunge shortly to end this bear.

      Dec 02, 2014 02:26 PM

      Chartster,

      Im not ruling it out as well but that plunge you so speak off could come on a later date.. Sometime in 2015.

    Dec 02, 2014 02:16 PM

    One of these days, will be the end of this Groundhog Day bear cycle. Geez..

    Dec 02, 2014 02:34 PM

    $GDM:$GOLD just got stuffed back to, or slightly below resistance.
    http://stockcharts.com/h-sc/ui?s=$GDM:$GOLD&p=M&yr=20&mn=11&dy=0&id=p36760036068&a=376487942&listNum=1

    Dec 02, 2014 02:34 PM

    Has anyone given any thought to desperate governments like France, etc selling their gold to raise money? If the Dutch took delivery of their gold, who is to say they won’t sell. Just thinking of a scenario I have not heard discussed.

      LPG
      Dec 02, 2014 02:46 PM

      Chico Garcon,

      You are raising an interesting point, which made me think about something else, but related.

      Recently (2 to 3 weeks ago max I think), the ECB said it could engage in purchases of various assets, and one of those mentioned was gold – which surprised me.

      Now, something just hit me.
      IFFFFF the ECB wants EU countries to look stronger than what they are, it has to make sure the assets the countries own are priced higher than what they “should” be under normal market conditions.
      This trick is already the case with bonds: the ECB “just had” to speak (“we will do whatever it takes”), and yields on EU sovereign went lower.

      Now, gold, so far has been left out of the equation.
      But let’s imagine the ECB says AGAIN, and specifically: “we’re gonna strengthen the Euro by also doing gold purchases…”. (think about it in the context of IMF/SDR and the position of the Euro)
      Gold would likely start to price that in, the EU countries gold reserves market values would move up. Magic. Again, the price of gold might start to move up BEFORE the ECB does any purchase. And besides this, the EU countries would have their stack of gold valued higher – convenient if they wanna sell some indeed, esp. to the ECB.

      Again, this was just a thought…

      Best to all,

      LPG

        Dec 02, 2014 02:53 PM
          Dec 02, 2014 02:04 PM

          My question asks “what is to prevent those central banks that own gold from selling it?” If they are desperate for money in a deflation and own a hard asset why not sell gold? I have not heard this discussed as a possibility, and maybe it isn’t remotely probable, but I thought I’d ask.

            Dec 02, 2014 02:06 PM

            Chico, many were sellers for years. Have you heard of the Washington Agreement on Gold?
            http://en.wikipedia.org/wiki/Washington_Agreement_on_Gold
            I have to wonder about the motives of that Mr. Armstrong.

            Dec 02, 2014 02:14 PM

            Btw, since central banks are tools of the elite, their actions are the opposite of what you should be doing. They were sellers for most of the last decade and anyone who was smart enough to buy did very well. Remember Brown’s Bottom? It seems central bank sales are used to cement a major low.
            http://www.zerohedge.com/contributed/2012-07-10/gordon-brown-sold-britain%E2%80%99s-gold-artificially-low-prices-bail-out-large-ameri

            Dec 02, 2014 02:53 PM

            Yes. I am aware of the Washington Agreement. That was an pre-arranged agreement. I am talking about a fire sale. I don’t know what you mean Martin Armstrong.

            Dec 02, 2014 02:57 PM

            Not to mention, if it is to mark a bottom as you suggest, what price? Precipitously lower?

            Dec 02, 2014 02:22 PM

            Armstrong posted the following yesterday:
            “Now that the Swiss central bank CAN sell its gold reserves, look out. When you ask a question, you better know what the answer will be or you end up with the consequences. Swiss sales of gold are now quite possible. As governments need money desperately and it is resolved that we are headed into electronic money, gold will become a barbaric relic of the past to financially strapped central banks in Europe.

            If the Swiss sell due to massive losses in the Euro, they may set off a competition in official sales. France will join – just watch. Socialists always sell tangible assets. If we see a pop in gold, it will be a manipulation to get the bulls revved up to sell to them one more time – thank you very much.”

            Dec 02, 2014 02:37 PM

            Interesting observation, Matthew.

            Dec 02, 2014 02:25 PM

            The Washington Agreement was not prearranged.
            “The agreement came in response to concerns in the gold market after the United Kingdom treasury announced that it was proposing to sell 58% of UK gold reserves through Bank of England auctions, coupled with the prospect of significant sales by the Swiss National Bank and the possibility of on-going sales by Austria and the Netherlands, plus proposals of sales by the IMF.”
            http://en.wikipedia.org/wiki/Washington_Agreement_on_Gold#Reason

            I am not worried about further central bank selling.

            Dec 02, 2014 02:33 PM

            Perhaps fear alone is behind all the recent selling drama. The extended agreement just ended…

            “In August 2009, 19 banks extended the agreement and committed to selling no more than a combined 400 metric tonnes of gold through September 2014. The International Monetary Fund did not sign this agreement.”
            http://en.wikipedia.org/wiki/Washington_Agreement_on_Gold#2009_agreement

            Dec 02, 2014 02:41 PM

            So that agreement ran out a little over 2 months ago then Matthew ?
            It hasn’t been extended further into the future ?

            Dec 02, 2014 02:47 PM

            Ha! Armstrong said that. Clearly he follows Chico. Interesting. Nonetheless, thanks for the input. I have no clue what to think. Bull and bears both make good points lately. Maybe my pessimism wants to believe the bears & my optimism has gone on a winter hibernation.

            Dec 02, 2014 02:39 PM

            The question is for how long will it be gone, Chico?

            Dec 02, 2014 02:49 PM

            Skeeta, it has not been extended as far as I know (which isn’t very far!).

            Dec 02, 2014 02:02 PM

            I should clarify the comment I made above: “since central banks are tools of the elite, their actions are the opposite of what you should be doing.”

            In other words, central bank actions are nothing like those of the owners of the central banks. Central banks are a mechanism by which the costs of bad policies get placed on society. This is why Brown sold the UK’s gold at the bottom of a 20 year bear market and, incredibly, even announced to the world that he was about to do so (ensuring the lowest possible price for the people’s gold). Who do you think was taking the other side of his trade?

            Dec 02, 2014 02:24 PM

            Hi Matthew.. this is a very interesting observation from you… I have heard of the agreement but never thought about this angle til today so thank you very much.

            Follow up questions pls, 1) motives of Mr. Armstrong? my best guess is you question why he scared people and suggested SELL this time?

            2) Since agreement has not been extended, I guess you’re suggesting that.. for the past decade, they have wanted to sell but to prevent collapsing gold price too fast (which I think this case some buyers will benefit more than the owner of CBs), they turned into each other to make an agreement….. since it has ended and no extension, it could be implied nobody or much less CBs want to sell anymore and that’s why they dont have to coordinate selling to protect gold from collapsing too fast?

            3) Armstrong mentioned if gold closes above 1310 by year end2014 then 2015 is bullish.. and if below 1042.. next year will still continue down… given your past comments(and I know that can be different as time passes/evidence emerges), perhaps higher odd is we go higher next year?

            Thank you very much!

            Dec 02, 2014 02:35 PM

            Oh.. Matthew.. one more question pls… what motives of Greenspan cheering gold lately do you think?… Thank you!

          LPG
          Dec 03, 2014 03:43 AM

          Thanks Genesys.
          HOW DID I MISS THIS ARTICLE ??? THANKS A MILL.
          Best to you,
          LPG

            Dec 03, 2014 03:41 AM

            Ur welcome LPG. If u indeed missed it it could be because its not from Tyler durden. Its under contributors section of zerohedge. Cheers

    Dec 02, 2014 02:33 PM

    I think the breakout from this low 70s range will tell us the direction.

    http://stockcharts.com/h-sc/ui?s=$GOLD:$SILVER

    Dec 02, 2014 02:35 PM

    Chartster you keep talking about this big plunge.
    Why don’t you give up on this?

      Dec 02, 2014 02:42 PM

      He is not alone James. I don’t happen to agree assuming that he means a “sustained big plunge”!

        Dec 03, 2014 03:35 AM

        Chartster is right Al.It is gonna be a shock and awe move.1050-950 range is the target.

    Dec 02, 2014 02:59 PM

    The plunge will come soon.
    How do you give up on something that’s going to happen? Lol
    It’s part of the bottoming process.

    Al, it will be violent, but short lived.

      Dec 02, 2014 02:07 PM

      And if the market turns before your target, that’s bullish, right? 🙂

      Dec 02, 2014 02:01 PM

      We have discussed that over the telephone Chartster

    Dec 02, 2014 02:15 PM

    Heh heh, I hear ya
    Have no expectations of it hitting my target, but it will be closer than you think.

    LPG
    Dec 03, 2014 03:33 AM

    Hello all,

    Just to comment on that comment apparently from Martin Amstrong:
    “[…] AS governments need money desperately and it is resolved that WE ARE HEADED INTO ELECTRONIC MONEY, GOLD WILL BECOME A BARBARIC RELIC OF THE PAST to financially strapped central banks in Europe […].”

    To me, this kind of statement is UTTER non-sense from an economic/financial standpoint. Let me elaborate a touch.
    As a preliminary note, I am not a gold bug. I just happen to like the price of gold currently from a long-term investment perspective, which IMHO is cheap for “an INSURANCE” against long-term debasement of currencies.
    I find the risk/reward of gold pretty much in my favor, and the risk/reward of gold related investments (PM stocks) even better from a speculation standpoint.

    To go back to the topic of currencies etc…
    The question is: what is the REFERENCE for ANY currency (electronic or not)?
    A currency in itself, electronic or paper has ZERO intrinsic value as it is created out of nothing (ok… paper currency has a touch of value due to the paper it is printed on + the ink…but that’s close to zero enough for me to say it has zero value).

    We are led to believe (mass media propaganda, most politicians, most bankers) that gold will be/is slowly becoming a barbaric relic. Really ???? I simply ask then:
    * Does the IMF own gold ? If so, why?
    * Does the BIS own gold on behalf of other central banks to settle some transactions between themselves ? If so, why ?
    * What is the IMF looking at to evaluate the mix of currencies in order to launch the upcoming SDR (forgot this one already ?) ?

    If gold didn’t matter, then Venezuela current currency crisis wouldn’t matter for the country itself. Its central bank would print print print and all would still be good, right? But why does less and less businesses want to trade in that currency ? Fear of depreciation, right ? Why is the depreciation occurring? Maybe because printing printing printing means nothing ? or adds no value ? OR, better said, it destroys value ( a consequence of the supply/demand equilibrium moving to lower price levels as there’s more supply).

    So bottom line:
    1) currencies REQUIRE a reference point that cannot be created out of nothing. The precious metals have always filled that role because they cannot be created out of nothing.
    Otherwise, if a currency has 0 reference point, it is worth…well…nothing/0 in itself – it is just another ponzi-scheme.

    2) It seems that the higher we move in financial organizations (at the top being of the pyramid sits the BIS), the MORE gold is relevant. Either these “bankers above bankers” (I call them the “Uber-bankers”) are ignorant/idiots, or this fact means something.

    3) As always, the best way to accumulate something is to make others believe it is worth nothing. (see Nathan M. Rothschild “legend” w. the LSE – not sure it was called the LSE back then – the day before the battle of Waterloo outcome was know to the public).
    It’s DECEIT DECEIT DECEIT. No need conspiracy: just deceit in order to get what one wants badly (or need badly).

    4) People are entitled to their views and have the right to believe gold is truly a barbaric relic etc… But to me it’s like gravity. One can deny gravity as a belief. But the day one crashes, one can’t IGNORE gravity any longer. In simple terms, one can deny something, at one’s own peril.

    ***************

    As an addendum, I’m adding below a link to a recent Zerohedge article which, IMHO, helps understanding why the Swiss political and financial “elite” were vocal for a “no” at the recent referendum.
    http://www.zerohedge.com/news/2014-11-25/swiss-referendum-gold-whats-missing-debate

    Best to all, and GL investing.

    LPG
    “One can deny gravity, but one day will come when one cannot ignore it”

    LPG
    Dec 03, 2014 03:58 AM

    OK…I want to do a MUCH SHORTER follow-up to my post just above.

    Something just hit me. All the discussions we have and concerns we have re: the usefulness of gold are SOOOOOOO “western-centric”.

    Let me elaborate.
    I think it’s fair to say that the share of global GDP from China and India is increasing.
    I think it’s also fair to say that China and India will soon account for about 1/2 of the population on this planet (we’re not there yet, but in a few years, we shall be, right ?)

    If we were (or lived) in China, India, HOW do you think we would be looked at if we say “gold is a barbaric relic”, it’s useless? I think chinese and indians will just look at us and feel very sorry for us.
    Or actually, they would probably “agree” to that statement and kindly offer their help by offering to buy from us the remaining bits or the barbaric relic we still have. 🙂 I’m serious here.

    So the point is, again, we are almost like brainwashed by some bankers and most of the media establishment to believe gold is “blablabla blablabla” just because the price is down from the Sept. 2011 top.

    Although I’m not a proper whisky amateur, I take my inspiration on gold investing from Johnny Walker and its motto: “Keep Walking”.
    So when I hear the (western) medias, politicians, bankers ranting on the precious metal(s), I think: “Keep Talking”.

    Best to all,

    LPG
    “If you’re going through hell….keep Going” (W. Churchill)

    Dec 03, 2014 03:26 AM

    LPG,
    A large segment of the population has been brainwashed on credit and vapor paper products. Everyone believes that the US debt is actually real. Everyone believed that the bailout of the banks in 08 was real. All of it is a theft perpetuated on a lie, because no one knows how money is created.
    Very soon we will go back to an asset backed currency system and our monetary policy will be restructured. They we will go back to being a nation of producers and savers.

    The biggest question is , who can be trusted in our government to oversee this new structure? Judging from how incompetent the senate finance comity and ways and means comity is,, no one!

    One can only hope our delusional public snaps out of stupid soon.

    Meanwhile, it’s still all about hard assets!

    LPG
    Dec 03, 2014 03:01 AM

    +1 Chartster.
    But IMHO, the bankers are in control… so I don’t have high hopes.
    Beside, it seems to me that the education system is expensive for a reason – keeping the masses in ignorance…. so on this front too, I don’t have high hopes – which doesn’t mean “the cause” is lost.
    But some people will definitely have to eat “lil’ crows” in the future, IMHO.
    Time will tell.
    Best to you,
    LPG

    Dec 03, 2014 03:03 AM

    12 gauge over the shoulder, crow call in hand! Lol