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It’s Wednesday night, and I just
returned from dinner with my new boss, Andy Schectman, and his lovely wife
Zhanna. My first day at Miles Franklin is nearly done, except for the
RANT in front of me, which I’m looking forward to. I am 100% sure
this relationship will be the best of my business career, as EVERYONE at this
firm shares my values, ideals, and creativity. Walking in the door
this morning, and seeing the familiar GATA emblem in a picture frame behind
the reception desk, I knew I truly found my home.
My first day was very, very
busy. I sincerely appreciate the numerous
emails from readers, which frankly complimented the firm as much
as congratulating me for joining it. The reason for my
expression of gratitude is the understanding that Miles Franklin’s
principals are here to PROTECT you, as they have been for the past 20
years. Low prices are one thing, but EDUCATING and RESPECTING
customers is what gives them the REPUTATION people remember.
Despite the frantic pace of my first
day in the office, I learned a tremendous amount about the coin business in
just a few hours. To start, the business has gotten far more
competitive in the past year, with numerous competitors falling by the
wayside. Only a handful of players are LEGITIMATE, GUARANTEED to
not only get you your coins, but mitigate ANY and ALL risks to your
hard-earned money to the best of their ability.
Also, that HUMAN NATURE is indeed 100%
predictable.
Following OPERATION PM ANNIHILATION in
late September, coin demand approached RECORD levels, with smart
investors WORLDWIDE buying PHYSICAL gold and silver despite sharply rising
premiums. However, this week’s demand levels have been the
weakest in YEARS, despite gold rising $70 in the last two days
ALONE! I believe retail buyers like myself (100% invested in
Precious Metals) are already “all in”, and thus unable to
add to positions any further. Conversely, deep-pocketed institutionals,
such as the CHINESE and RUSSIAN GOVERNMENTS, are buying hand over fist
now that they sense the bottom is in. GATA’s “STALKER” and
Eric King’s “LONDON SOURCE” proclaimed MASSIVE Chinese
buying supported gold and silver prices at $1,600/oz and $31/oz, respectively,
and darn if they weren’t SPOT ON.
WAVES of buying will buoy gold and
silver prices for years to come (until fiat currencies collapse, and a new
era of HARD CURRENCY emerges), and in my view, the NEXT WAVE will
commence when gold next approaches the $1,900 level, possibly later this
year and DEFINITELY by the end of 1Q 2012. The Cartel will not be
happy when this occurs, as this time $2,000 will be eclipsed like a knife
through hot butter, likely amidst a backdrop of European chaos and, potential,
U.S. calamity as well.
I was asked by several of my colleagues
how I come up with so much material, and my answer is just the
opposite; how can I write FAST ENOUGH to keep up with the array of new
topics, particularly as Western economies plummet through the abyss at
speeds faster than Galileo’s stones from the Tower of Pisa?
For example, if I had all night, I could write tomes just
about TODAY’s “horrible headlines”, such as the farce
that is the current PPT-induced stock market rally…
NYSE Short Interest
Drops To Two Month Low As Weak Hands Have Been Squeezed Out
Relentless Equity Outflows
Continue: YTD Mutual Funds Redemptions Surpass 2010 Total, Despite Broad
Market Squeeze
…the collapsing U.S.
economy…
Median US New Home Price Has
Biggest 3 Month Drop Ever
…GLOBAL money printing gone
awry…
Everybody Print! BOJ Will
Reenter Global Currency Devaluation Frenzy To Kill Yen
…SURGING worldwide inflation,
even at “Galt’s Gulch” in Argentina…
Argentina Orders
Oil, Mining Exporters to Repatriate Funds
…RIDICULOUS rumors of BRIC
bailouts…
Brazil Refuses To Buy European
Bonds, Dashing Hopes For A BRIC-based European Rescue
Idiot Market Jumps On 12 Hour Old News Of Yet Another
Chinese Euro Bailout, Since Refuted
…the ongoing PIIGS train
wreck…
Italy On The Ropes
Again After Secret Berlusconi Promise To Step Down In Exchange For Compromise
Achieves Nothing
Mario Draghi Says
Situation In Italy Is “Confusing And Dramatic” – As Is All
Of Europe Today
And Now Back Down:
Greek Haircut Talks Deadlocked
…and the comical expectations
that Italy can right its ship. No offense to Italians, as everyone
LOVES their “devil may care” attitude, dark black
hair, and delicious food (particularly me, married to a full-blooded
Italian), but economically they are as pitiful as the Greeks. The
Italian government is run by criminals and prostitutes, their people are
as dumbed down by ECB handouts as Americans by Reality TV, and the will
to take responsibility for its actions non-existent. Sorry to all the
people who “love Italians” because Rome is beautiful, but this
country has become the joke of Europe, and will shortly pay for decades of
laziness and sloth…
Italy Concedes To
Full Blown Austerity: To Raise Retirement Age From 65 To 67 By 2026
Oh well, pretty soon a RANTING MARIO
will be writing the same thing about America…
Last Treasury
Auction Before US Breaches 100% Debt To GDP Prices Quietly And Without
Surprises
Of course, the drama of the day, while
gold and silver slowly creep back up, is “renewed excitement” of
a potential deal to save Europe. Absolutely NOTHING has been
agreed on, except to continue propping the stock market and promising an
“imminent solution”, and NOTHING will be agreed on, as it is
MATHEMATICALLY IMPOSSIBLE to “save the day” without collapsing
fiat currencies against the value of REAL ITEMS OF VALUE, such as GOLD,
SILVER, FOOD, ENERGY, and OTHER LIFE NECESSITIES.
Yes, there will be “news”
touted as “positive”, but all such propaganda proves (such
as tonight’s BREAKING NEWS of a Greek haircut deal) is the system
is becoming more insolvent each day, and GLOBAL QE a fact of life
which will only ACCELERATE each passing week.
We Have A Deal!
Wow, I’ve written a lot already,
and haven’t even gotten to my point. Like I said, just too
much to write each day, just to keep readers abreast of WHAT is happening in
the world, WHY you need to feel more CONFIDENT in your PHYSICAL precious
metals ownership, and WHY you need to exchange as much worthless SCRIP
as possible in favor of REAL ITEMS OF VALUE.
OK, so why Fargo?
No, it’s not because Miles
Franklin has a secure, Brink’s-guarded depository there, although that
would certainly be a great way to cross-market. It’s due to one
of my favorite movies, Fargo, which I’ve written about numerous times
in the past due to its parallels to the current, untenable plight of
TPTB.
My colleague David Schectman has a
unique ability to present both sides of a story, enabling readers to
determine which side is right, and which side wrong.
Recently, he has presented the testimony of his friend “David R.”
a long-time metals trader who apparently has done well over the
years. He, like Jeff Christian, purport to “know” what is
happening in the markets, that they “know all the players” and
thus can GUARANTEE what is REALLY going on.
David R. claims he “knows the JP
Morgan traders”, and “knows” JP Morgan has vaults full
of silver in the Far East. Jeff Christian says he
“knows” the Goldman Sachs traders, as well as the J. Aron
traders from the 1970s (sorry Jeff, you’re not that old).
As if “knowing traders”
MEANS anything to me. “David R.” has the nerve to say
gold falls at 3:00 am EST each day due to “illiquidity”, perhaps
the most ridiculous statement I have ever heard. What about
“illiquidity” causes an asset to fall in the middle of the night
9 of 10 times, particularly one amidst an eleven-year bull market? And
what about the open of the COMEX at 8:20 AM EST, or the London PM FIX at
10:00 AM EST, or the “cap of last resort” time of 12:00 PM
EST? Is the gold market “illiquid” then?
He also claims no gold conspiracy
exists because it would have been discovered long ago, with whistleblowers
galore.
Such “whistleblowers” would
surely have their lives ruined, or possibly snuffed out, but why would
that matter? Not to mention, most potential whistleblowers have
made tons of illicit profits trading with the Cartel, something
I’m SURE they’d like to give up in exchange for injury,
prison, or even death. Or, of course, that
most people don’t even QUESTION their surroundings,
much less take their heads out of the sand long enough to complain. I
mean, what could possibly be wrong with JP Morgan holding $80 billion of gold
derivatives or COMEX silver shorts worth many multiples of global
production, or inheriting a MASSIVE silver short position from Bear
Stearns?
Pay no attention to the fact the
“London Gold Pool” was an OFFICIAL gold suppression Cartel in the
late 1960s, or that countless Federal Reserve QUOTES,
from CHAIRMEN such as William McChesney Martin, Paul Volcker,
and Alan Greenspan alluded to gold suppression. No, there’s
just NO WAY governments would want to control the gold price, particularly
because “David R.” and Jeff Christian say they “know JP
Morgan and Goldman Sachs traders.”
No, it was not ALWAYS a
conspiracy, and it certainly didn’t
start EXACTLY in 1996 when Robert Rubin first uttered the
word’s “strong dollar policy.” Just like the
“President’s Working Group on Capital Markets”, which
benignly commenced operations in 1987 (as a last line
defense against market crashes), the “Gold Cartel” was
initially a figment of Larry Summers and other
moronic politicos’ imaginations, a
“hypothetical” way to control markets in times of need, to
maintain CONFIDENCE and positive PERCEPTION about the U.S. and its
“stock”, the DOLLAR, during crises such
as LTCM, the “tech wreck”, 9/11, and the housing
crash. No matter that all historical attempts to control gold and
support fiat currencies had failed – Larry Summers went to HARVARD, so
he MUST be smarter than all the failed economists of history.
In the beginning of Fargo, the only
problem was William H. Macy’s character, Jerry Lundegaard, owing
some money, and being too proud to tell his disapproving father-in-law.
Just as the U.S.’s problem was simply that its debts were growing
rapidly while its industry was leaving for the Far East, and its government
didn’t want to admit a significant recession was coming.
Jerry then arranged a “sure
thing” kidnapping of his wife, which no doubt would get him the money
(ironically, from his father-in-law) to pay off his debts. Just as the
Fed decided that lowering interest rates and repealing Glass-Steagall would
restore the economy to prosperity, allowing it to “grow out of its
debts.”
Unfortunately, Jerry hired morons to
kidnap his wife (actually, they were hired by his mechanic, Shep
Proudfoot), accidentally killing her in the process. Just as the
Fed’s reckless actions created unforeseen inflation, a housing
bubble, and reckless bank speculation in risky ventures such as
derivatives and mortgage-backed securities.
Next, the kidnappers were dumb enough
to speed in a stolen car with a dead body in the trunk, leading to the death
of a policeman, two innocent drivers, and a parking lot attendant. Just
as the Fed and its henchman Hank Paulson fed TARP to the public, destroying
the financial system and throwing fuel on the global inflationary fire.
Finally, the kidnappers killed
Jerry’s father-in-law and each other, while Jerry went to prison for
multiple murders, including his own wife.
Get my drift here?
OF COURSE TPTB are
manipulating financial markets (stocks, bonds, currencies, and
commodities). In fact, ALL of these markets are being rigged
OVERTLY EXCEPT Precious Metals, which not only is the smallest,
and most manipulatable, but represents the LINCHPIN of the ENTIRE GLOBAL
FIAT CURRENCY SYSTEM. If you want to believe Jeff Christian and
“David R.” that markets are free because they “tell you
so”, feel free, and be prepared to lose your shirt.
OR, you can listen to little ‘ol
RANTING ANDY, who only has been DEAD RIGHT for the
past decade, and buy PHYSICAL gold and silver to PROTECT YOURSELF from
the economic collapse that will continue to accelerate
until NOTHING is left standing. Not to mention, the views of
investment LEGENDS such as Jim Sinclair, Richard Russell, James Turk, Jim
Willie, Gerald Celente, Bill Murphy, John Embry, and Eric Sprott.
Yeah, those guys are WRONG, and Jeff
Christian and “David R.” are RIGHT.
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