The fiscal cliff? It was like a fiscal curb. The United States is worse than any of these other countries. The only reason it seems as if the United States is the best of the worse is because we still have a printing press and can just kick the can down the road. The real fiscal cliff is still ahead. Why gold is struggling is a complete mystery.

AL U R BACK………how is the nerve…..NO more Las Vegas for you……

Big Al,
You really know better than to parrot US growth figures put out by the government.
Real GDP growth is adjusted by the inflation rate.
Inflation rate low means growth rate higher.
inflation rate high means growth rate low.

Since the US inflation rate does NOT measure a constant standard of living, because of hedonic adjustments and because of substitution adjustments, the TRUE inflation rate is HIGHER THAN THE US STATES, and thus the TRUE GROWTH RATE IS LOWER than the US states.
The real current growth rate of GDP is negative. i.e. the standard of living is dropping.

Here is the actual inflation rate (money supply) from Paul himself;

http://www.paulvaneeden.com/Actual.Money.Supply

Yoy have to click on inflation rate in the reference above

Of course Paul knew when the time was right to move out of South Africa.
Is the time getting right to move out of the United States?

America can print any number of $$ she wants. There is no force in the world that can stop her. If deficit goes up to 100 trillion or 1000 trillion is irrelevant.

I do not understand why this simple fact is so hard to understand for people?

Gold has a spectacular run but sadly its over. What I see from now on, Gold will gradually descent in to $700-800 range.

Mark my words.

Silverfox.
The reason you are wrong is that as the US prints the real value (how much goods it will buy) of the dollar will go down. There is a time lag between the printing of dollars and the effect of the printing.
While the price of gold fluctuates, the long term price of gold in US dollars tracks with the number of dollars printed.
Further the deficit will matter, because interest rates correlate with the amount of money being printed, again with times lags.

GDP not only includes a rigged CPI it includes government spending.
Think about a GDP of negative 0.1% for a quarter when the government involved ran a 1 trillion plus dollar annual recognized budget deficit during the period in question. The budget deficit truly being almost triple that with all off budget fiscal fiascos included.
This monetary mayhem fiscal fiasco is a slow motion accident.
The car is careening off the road into a ditch. At the moment the car is in pristine condition. The fact that the accident cannot be avoided is the problem. There is a signpost up ahead…the problem is that is not the only thing the car will crash through on the way to being totaled.
As far as providing for yourself and family….. the cheddar scalloped potatoes I put in the oven at the close of market today smell awesome. Some things you cook up make the house smell like a home.

Lol Silverfox, it just occured to me, you could be one of those government trolls that Max Keiser talks about. Are you a troll? That would explain your position.

Foxy, the gold price will go to the amount of currency printed divided by the number of onces, or somthing like that, lol, in any case its more currency to aquire.

Benb,
You are making a mistake in assuming that the price is totally dependent on the printing of US dollars, It depends on total world fiat.
Also while the number of ounces in existence is very relevant, the price relationship with same is not simple. E.g If all the gold was owned by a person that did not want to sell, it would not matter what the price was. Also supply depends on the cost of mining, and while the increase of supply per annum equals about 2% of above ground gold, it represents a much larger percentage of available gold for sale. Further both China and Russia now prohibit exportationo of gold. That also effects price. Argentina, Venezuela and Boliva have seized mines or taken gold from producers also affects production and price.

There are some beer and wine lovers on this site and they would do well to remember the old navy saying, “LOOSE LIPS SINK SHIPS” so when you go to the pub remember “MOMS” the word. DT

JiM Sinclair’s Company AGM Webcast:

http://standrewsclubav.ca/webcast/client_tanzanian/20130228/

CFS,
Are you a shareholder of TEC? And/or what do you think of Sinclair’s outfit?

I was expecting Jim to give a talk at the end of the AGM like he did last year. I see he did not. I’m sorry.
I do see Jim’s influence, however. Over the years the companies which have often generated the most benefit for their shareholders are those which have taken a high grade area and worked on that first to create cash flow to develop the rest of the mine. This what YRE is doing.
If the board is trying to maximize their salaries and don’t care about shareholders they doing one of two things:
a. they do things really slowly, do a PEA, then add a bit of extra ground and do another PEA, then spend a couple of years working on mine development and then hand it over to an outside firm to do development for another few years, etc., never getting around to getting gold to sell, just just diluting, handing out options, diluting again, etc.
b. just go on adding further properties and drilling and piling up ounces. Occasionally spinning out companies (for which they are also on the board), etc. Add another property, diluting again…..Never actually building a mine within a 20 year bull market window. Then the market turns and they keep the shell company until the next bull market.

For YRE above please read TRE

Sinclair’s comments:
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/2_Jim_Sinclair_-_Bulls_%26_Bears_To_Be_Wiped_Out_3_Times_In_Gold.html

Getting back on subject. A kind of Democracy is the best way to go, but it needs constraints.
A minimum of two chambers is needed.
One to make the laws and one to be a watchdog or moderator.
Also I believe large but not necessarily universal franchise is needed. But what is wrong with a test of knowledge or even language.

Part of the problem has arisen out of polarization of the parties.

Just some thoughts.

Term limits in some way ought to be considered; something that stops politicians for building their own empires.

Lobbying by using money has corrupted things in the US; this has to be altered.

Maybe reducing benefits of politicians, or pay, so they really do serve the public instead of the reverse attitude currently prevailing.

Maybe disallowing borrowing except in times of declared war.

I find Ms. Rand’s concepts difficult to evaluate because of her personal morality.

Big Al,
You do realize that while we are talking about gold, the dollar and sequestration
the US is being changed beyond anything that you will recognize in a few years.
You do realize that over a year ago I called someone the Devil Incarnate, who was either by deliberate act or by sheer incompetence changing this country. Now I am sure it is by deliberate act.
You do realize that recently the EPA has been given executive power to regulate all greenhouse gases. Since greenhouse gases include carbon dioxide, methane and water vapor, citizens have given away the right LEGALLY (although hopefully not actually) to have regulations made regarding breathing, drinking a glass of water, or using a gas stove. LOSS OF FREEDOM is rampant. Not only over guns, but possibly in every aspect of life, not simply the right to bear arms; that is merely obfuscation.
Obama is trying to change society as we know it.
He is digging a hole so deep for our children they will never dig out.
He is seeking via healthcare rules to control one third of GDP; government by rules and regulation. Now the EPA has a chance to control the other 70%.
Everything is phrased in a most reasonable way, JUST FOR NOW, but the freedom is lost, the country will be destroyed.
The control will be worse and just as destructive as in the Soviet Union.
You, Big Al, and I, both know that current spending is unsustainable.
Just wait until, in the name, of having to save the country from financial ruin, he takes away tour IRA, and then because that is not enough, your savings……after all it’s only fair that everyone should be treated equally and the county needs the money. It is all for the greater good.. The thin end of the wedge was just hammered in.

“I remember when they came for the homosexuals, and I did not speak out because I was not homosexual.
I remember when they came for the gypsies, and I did not speak out, because I was not a gypsy.
I remember when they came for the Jews and I did not speak out because I was not a Jew.”
And then they are coming for you!

Think about it.

When the Affordable Care Act was passed it included powers given to the IRS.

I am informed that to be published the Federal Register on Monday will be new regulations taxing health insurance providers. I will tell you in a minute the consequence, but first a background comment.
I think everyone knows by now Obamacare has a funding problem.
I think everyone knows by now the passing of Obamacare was not passed under normal scrutiny by Congress. Heck it wasn’t even written at the time of passing.
I told you at the time of passing the devil incarnate wanted to destroy private healthcare and create a National Healthcare, effectively controlling 30% of the economy.
Well, here’s the details of the IRS regulations.
Effective 2015 will impose a fee on Insurance companies that are providing health care insurance. This fee will take $10 Billion in TAXES THE FIRST YEAR, rising to a total over 5 years by 2018 of $100 billion.
Because the private insurance companies will pass this fee on to their customers many will drop private coverage and only have government-run Obamacare.

I have commented on the English NHS before.
In order to save money, it is estimated over 250,000 elderly and infirm patients are now euthanized in the UK each year.
Here is a blog about a doctor who decided not to wait until his patients were on death’s door. (Usually they at least wait until hope is pretty much gone, and rather than use expensive extras speed your dying.)

http://liverpool-care-pathway-a-national-sc.blogspot.com/2012/03/liverpool-care-pathway-and-other-end-of.html

70% of the Healthcare Trusts in the UK have adopted the LCP, Liverpool Care Pathway, as a way to reduce costs.
And, of course, about half of the drugs available in the US are not accepted in the UK because the authorizing body, NICE, has determined them to be not cost-effective. This includes many anti-cancer drugs.

Paul VE is correct

True capitalism and the true nature of business is setting up a society that all benefits – everyone is a winner with obvious some levels of degree. No one will begrudge a person who works hard and comes up with ideas and makes a little extra by taking risk. As long it is all above board, fair and equitable. A dollar spent and invested goes into making something which improves all of our lives and we grow in a sustainable way.

So tell me how taking a dollar and sending it around the world and turning it in 10 dollars is productive and benefits any society. This is what the American brand of capitalism has become. Dark pools. algo trading, bot trading, HFT, CDS, CDO, derivatives and paper securities. Risk is about reward in capitalism not going out and lying to others so you risk their livelihood and setting them up to lose. People don’t have the time and there are those who know this and exploit it.

If there were a total of 100 cows in the world today how is it possible that there are 200 cows being traded. The biggest joke and fraud i have heard up to today is that the paper gold market has been developed to allow people who can’t get gold to participate. This was Frank Lesh’s view. Guys like this should not be in charge of anything financial. If you can’t get a cow then you have to either wait until one becomes available and if they become popular you have to pay the price. You cannot get milk or beef from a paper cow. What happens when you buy your paper cow and you now want to benefit from it by taking delivery?????????????

Al a while ago you asked me what can we do about the greed, the derivatives and the non productive capitalism that is occurring and continues to occur today. Well i would have thought it was obvious that you and others who have a platform like your show need to get together and start getting into the main stream and have your voices heard. I am really starting to get jack of all the selective BS that shows like CNBC are allowed to spruik and tout which is being done in a deliberate and controlled way. Mark Haines was a sad loss to the media and provided the voice of reality. Now it’s just a circus the only thing missing is the clown suits. “I am Pete Nagerian, I am fast money” Yeah right!!!

Surely there is someone within the circles you travel that has the necessary leadership and organisational skills to start fighting back and play the people who continually rip of ordinary hard working folk at their own game. At the end of the day they are not doing America any favours at all. Will Goldman Sachs build new bridges, create infrastructure or jobs with all the tax payers money they received. Enough is enough.

Al I want my cow and I want it now.

Cheers
TonyW

PS Paul VE is slightly wrong about China only because he is trying to apply an American model and make it fit. China is chaos theory in motion. China will allow you to make as much money as you want as long as you don’t screw with the political system. Yes it will bubble up and burst a bit and just start bubbling up again.