December 11, 2018 
 Tuesday 
 
 

Forum
Topic:
Gold Enters Major Bull Market

       

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 By bluejay

10/09/2008  1:31PM

HOLY COW!!

Gold has just made an impressive turnaround. Last sale is $913.40. It looks like the Paulson crew has failed with their manipulative efforts for the day. Are the criminals losing control?? Hopefully, they are.



Gold $885.90 off $20.60
Silver $11.82 up $ 0.05
Gold/XAU Ratio 7.61
Gold/Silver Ratio 74.95

Today's gold manipulation, following the Paulson statements yesterday, only has the metal down slightly in percentage terms. It appears the Plunge Protection crew may be growing anemic in their abilities to control prices. We will just have to wait with our usual patience wondering if and when market forces in the paper market can get the upper hand on the PPT boys.

There is so much blantant manipulation in our financial markets are we ever to know the true value of anything? The banking system is one area that should bother all of us. As Jim Sinclair said the other night, "the local banks are in the web of the Money Center Banks and are therefore in trouble they do not even know about yet." Paulson is now advocating that the government take part ownership of some of them. He is attempting to manipulate our thinking, indirectly, that all will be fine because Uncle Sam knows how to do things. This is a far cry from the truth as they never thought it once necessary to regulate the out of control bankers concerning their lending practices.

Shareholders should be relieved that the Company's shares weren't listed on a major exchange that would have possibly attracted illegal short sellers. Once the illegal shorts get hold of a stock's future the shareholders always ended up paying in wealth reduction.

A patriot for protecting the rights of shareholders against these criminals of manipulation is Mr. Patrick Byrne of Overstock.Com. Since 2005 his company have been hot on the trail of many suspected criminals through the court system here in San francisco.

Good luck to Patrick Byrne!
 By bluejay

10/08/2008  2:58PM

Last on gold is $906.50.

The following comments were taken from the ECU forum page of agoracom.com in Canada from a brilliant observer of the governements tactics to suppress precious metal prices.

Hanky Panky Test at 3:00 pm
Posted by: vhf on October 08, 2008 12:00PM

Hank Paulson is supposed to hold a press conference this afternoon at 3:00 pm. In the past, his "presence" caused PM's to get shelled without remorse. However, the fact that the markets are still crashing despite Hank's series of extreme efforts might indicate his power in waning.

Therefore, we will see how gold and silver perform before, during, and after Hank's little speech today. It could well be a reasonable indicator of gold cartel strength or lack of it.

Regards - VHF
 By bluejay

10/08/2008  8:58AM

Last on gold is $912.50.

We are in historical times with significant events increasingly becoming more frequent.

Chris Powell (usagold.com 07October2008; 18:03)
Central banks all but stop lending gold

By Javier Blas
Financial Times, London
Tuesday, October 7, 2008

Central banks have all but stopped lending gold to commercial and investment banks and other participants in the precious metals market, in a move that on Tuesday sent the cost of borrowing bullion for one-month to more than twenty times its usual level.

The one-month gold lease rate rocketed to 2.649 per cent, its highest level since May 2001 and significantly above its five-year average of 0.12 per cent, according to data from the London Bullion Market Association.

Gold lease rates for two, three, and six months and for a year also jumped to levels not seen in the last seven years.

Traders said the jump reflects the fact that central banks — mostly European — have almost completely stopped lending gold in the last few days and are not rolling forward old leases after maturity. This is because of fears that some borrowers might not repay their bullion loans if they are engulfed by the financial crisis. …
 By bluejay

10/08/2008  7:53AM

Last on gold is $910.

Central Bankers Cut Interest Rates - Push Panic Button

Comex Gold Sharply Higher After Coordinated Rate Cuts

By Allen Sykora, Of DOW JONES NEWSWIRES

New York gold futures traded sharply higher early Thursday following a coordinated rate cut by the Federal Reserve, European Central Bank and other major banks.

This has triggered safe-haven buying on ongoing worries about the world financial system, as well as buying as a hedge against potential inflation down the road as a result of easier monetary policy, traders and analysts said.

Around 8:40 a.m. EDT (1240 GMT), December gold was up $32.80 to $914.80 an ounce on the Comex division of the New York Mercantile Exchange. December silver was 54.5 cents higher at $11.925.

Gold was higher in overnight screen trading and remains firmer after initial volatility when the news broke that the Fed cut its federal-funds rate by 50 basis points to 1.5%. Others cutting rates included the Bank of Canada, Bank of England, European Central Bank, Sweden's Riksbank and the Swiss National Bank.

"With the concentrated effort around the world, it shows fear," said Charles Nedoss, senior account manager and metals analyst with Peak Trading Group. " People are worried that No. 1, it is inflationary. And No. 2, where do you go from here if this doesn't work."
------------------------------

Continue to read Mr. Jim Sinclair at http://www.jsmineset.com for the TRUTH and instructions on how to protect yourself.
 By bluejay

10/07/2008  2:09PM

Last on Gold is $885.90.

If you believe the following press release from the US Mint then, I guess, we are to remain gullible.

The Mint's main complaint is there is a shortage of blanks. If there is then increase the manufacturing capabilities, just like they did with beannie babies. Concerning their ability to press coins, increase the production by buying new presses. I am sure the Fed has ordered new currency presses as the money supply continues to explode(5% of the supply is in currency and coins with the remainder in electronic entries between financial institutions.

Concerning the volatility of gold, maybe the mint should consult Paulson because the Treasury is part of the problem. The Royal Canadian Mint currently doesn't have a shortage because they control all facets of production from purchasing the bullion to retail outlets and to the public. The Royal Canadian Mint produces their own blanks.

The sad fact is that the US Mint was probably ordered to cut back their precious metal orders because it doesn't make sense for them to increase their bullion orders based on unprecedented public demand when Paulson and the Plunge Protection Team are selling gold out the back door and not coming clean to the public about it. Since Paulson and company have employed all types of schemes to suppress gold's price, how can anyone really believe that our 8500 tons of gold that the Treasury states is in good custody is really there?

All the Treasury would have had to do was to move our gold around in the basement of the New York Federal Reserve(NYFR) from our cage to another cage. The NYFR stores gold holdings of many other central banks in New York City.

Is it possible that the Treasury ordered the Mint to cut back on production because the Treasury's supplies of the country's gold are near exhaustion??? If our 8500 tons of gold are still intact, then why aren't the American people presented with a certified report by an auditor to that effect???

Paulson is quite experienced in depressing gold. Goldman Sachs(one of the Treasury's pet brokers) with Paulson at the helm made a fortune selling gold short during the 1990's. When it came time to cover at $300 and below there was a shortage available. It has been speculated that Paulson gave our old friend Gordon Brown of England a call and begged him for some gold to cover Goldman's short. Soon after, Brown ordered the majority of the remaining gold still held by England sold to the market. I guess we know who the buyer was if the story is true.

Gordon said that investing in three other currencies, one of which was the US dollar, was better than holding an asset that had been weak. What a jerk! Gold has always been the cornerstone of a healthy central bank.

During the silver shortage in the early sixties the Mint borrowed the press from the Carson City Mint to increase silver coin production. The upgraded press is currently housed in working condition in a museum in Carson City. Why not borrow this press??

It would appear that the Mint has been ordered to slowly withdraw from providing gold and silver bullion coins to the public. This must be another directive from their banking buddies. Remember, it was these same guys that heavily shorted both gold and silver in July on the CRIMEX Exchange(also know as COMEX)prior to the severe sell-off in August.

According to Jim Sinclair, gold is headed to $1,650 for starters.

background, gold price) By Frank Tang NEW YORK, Oct 7 (Reuters) -

Unprecedented demand for
precious metals and volatile markets forced the U.S. Mint to
cease production for the half-ounce and quarter-ounce popular
American Eagle gold coins for the rest of this year and to
supply other bullion coins on an allocation basis. "Due to the extreme fluctuating market conditions for 2008,
as well as current market conditions, gold and silver demand is unprecedented and the demand for platinum is unusually high," the U.S. Mint said Monday in a memorandum to its authorized coin dealers. "The U.S. Mint has worked diligently to attempt to meet demand, however, blank supplies are very limited and it is necessary for the U.S. Mint to focus remaining bullion
production primarily on American Eagle Gold one-ounce and Silver one-ounce coins," the Mint said. The Mint said it would continue to supply one-ounce American Eagle gold coins and one-ounce American Eagle silver coins on an allocation basis to coin dealers. For half-ounce and quarter-ounce American Eagles, the Mint said that inventory was depleted last week and no more coins would be produced for the rest of 2008. In addition, the Mint said it would produce 1-10th ounce
Eagles based on current coin blank supplies, but would cease
production for the rest of this year once the remaining
inventory was depleted. Produced from gold mined in the United States, the 22-karat
American Eagles have been novel items among collectors and investors since their introduction in 1986. Each coin has a face value of $50 but it is sold by authorized dealers at a premium to the price of gold.

AMERICAN BUFFALO, AMERICAN EAGLE PLATINUM

The Mint said it would continue to supply 24-karat American Buffalo one-ounce gold coins based on current blank supplies, but would halt production once the remaining inventory was out. The Mint had suspended sales of the Buffalos in late September due to strong demand and inventory depletion. Similarly, the Mint said that all denominations for
American Eagle platinum bullion coins were depleted last week, and it would halt production for the rest of the year once the remaining inventory was depleted. Coin dealers from the United States to Canada have recently
reported a surge in buying of bullion coins. Gold has soared as much as $200 in the last 30 days as panic investors flocked to gold as a worsening global financial crisis prompted people to seek a safe haven. Spot gold <XAU=> traded at about $884 an ounce on Tuesday, while the gold contract for December delivery GCZ8 on the COMEX division of the New York Stock Exchange was at $886 an ounce.
(Reporting by Frank Tang; editing by Jim Marshall
 By bluejay

10/06/2008  7:01PM

Last on gold is $863.40.

We are apt to shut our eyes against a painful truth... For my part, I am willing to know the whole truth; to know the worst; and to provide for it. --Patrick Henry

Posted On: Monday, October 06, 2008, 5:37:00 PM EST

The World Of Gold

Author: Jim Sinclair

Dear CIGAs,

Gold is the ultimate currency when others fail as a store house of values.
Gold has no liability attached to it.
Gold is universally fungible.
Gold is an appreciating asset on the balance sheets of central banks..
Gold will trade at $1200 and $1650.
Of course gold bottomed on its first break from $1033, but I only say such things once.
The third try for above $1000 is being set up now.
Have you protected yourself?

Your friend,
Jim
 By bluejay

10/06/2008  2:51PM

Gold $855.20
Silver $10.94
Gold/XAU Ratio 8.12
Gold/Silver Ratio 78.77

The Plunge Protection Team(PPT), the Treasury's market manipulative arm was feverishly working today to contain mounting losses from the skidding values of the Dow Jones Averages. The DOW closed off on the day 369.88 points. During the session the averages were approaching being off 800 points. The PPT couldn't buy enough of the Index futures while supply was heavy.

In the meantime gold was pushing higher, eventually hitting near $876 with a last of $861.50, up from the previous close of $834.80. After the NYSE close gold slipped back to 655 but is currently trading higher.

The most remarkable event over the past week is the total disconnect between the gold stocks and the price of the metal. At one point today, the Gold/XAU ratio was at 8.38. The time tested axiom was to buy the gold stocks when they hit 6 on the Index and sell them when it hit 3. Times, they are a changing.

In order to understand this great hostorical discrepancy one has to consider how desperate the "powers to be" are at saving the system. Why did gold and silver tank in early August ahead of all the bad news? The main reason was a plan to contain gold under $1000 when it was to be later revealed by the Fed and Treasury that our financial system was coming apart at the seams and needed a quick bailout. It appears their plan, so far, has worked.

The reason the gold stocks came under such severe selling pressure was to confirm in the market place that gold was not a good alternative form of investment as a safe haven. This was easy to accomplish by the Treasury and their cohorts. They just entered sell orders through their two pet brokerage firms, or investment companies, to overwhelm buyers with a barage of unlimited sell orders. All this was accomplished through the illegal trading vehicle known as naked short selling, no certificate required for shorting.

It isn't odd that the SEC restricted "all forms" of short selling in the falling financial stocks as the bankers control the system. Why wasn't naked short selling prohibited in the gold shares? The bankers hate gold because when we were on a gold standard their lending practices were held in check.
Under that system, if the bankers wanted to grant more loans then they had to add gold to their reserves.

Your good old corner bankers have ruined the banking system and it is now based on lies and fraudulent accounting standards. Is there any wonder that manipulative steps of the PPT now have to be instituted in order to make bank depositors think twice about cashing out?

It appears that there is one thing the PPT can't control(are they plugging up supply channels someway?) and that is the public quest for the physical metals of gold and silver in bullion form. Coin stores are basically sold out of the product. The following is the latest rundown from golddealer.com concerning their bullion products:

THE MOST POPULAR GOLD BULLION
Gem Uncirculated-$2000 Order Free Shipping
Our Buy Price
Our Sell Price

Eagle US Gold Bullion (1 Oz)
$903.00
$933.00

Buffalo US Gold Bullion (1 Oz)
$903.00
Out of Stock

US Gold Bullion Eagle (1/2 Oz)
$464.00
$479.00

US Gold Bullion Eagle (1/4 Oz)
$230.00
$242.00

US Gold Bullion Eagle (1/10 Oz)
$93.00
Out of Stock



US Buffalo Proof 1 Oz Gold-Box & Certificate
$920.00
$1070.00

US Eagle Proof 1 Oz Gold-Box & Certificate
$1000.00
Out of Stock



Austrian Philharmonic Gold Bullion (1 Oz)
$893.00
Out of Stock

Australian Kangaroo Gold Bullion (1 Oz)
$893.00
Out Of Stock

South African Gold Bullion Krugerrand (1 Oz)
$893.00
Out Of Stock



1 Oz Gold Bullion Bar - Pamp Suisse With Cert
$893.00
Out of Stock

100 Gram Gold Bar-Pamp Suisse (3.21 Ozs)
$2825.00
$2900.00

10 Oz Gold Bar - Pamp Suisse With Cert
$8700.00
Out Of Stock

Kilo Gold Bullion Bar-Pamp Suisse/Cert (32.15 Oz)
$27500.00
Out Of Stock



Austrian/Hungarian 100 Corona (0.98 Gold Oz)
$840.00
Out of Stock



Chinese Panda (1 Gold Oz)
$882.00
Out of Stock



Special Australian Lunar Dragon
$1500.00
$1800.00

Australian Lunar Gold Set 1996-2007 Complete 12 coins
$11900.00
Out Of Stock



Mexican Gold 50 Peso (1.2 Gold Oz)
$1040.00
Out Of Stock



US $20 Liberty Gold - XF to AU - Dealer's Choice
$1080.00
Out Of Stock



British Sovereign Circulated (.235 Gold Oz)
$207.00
Out Of Stock



Swiss 20 Franc Brilliant Unc. (Pre-1933 .186 Oz)
$172.00
Out Of Stock

French 20 Franc Brilliant Unc. (Pre-1933 .186 Oz)
$172.00
Out Of Stock


Please note these prices subject to after market changes because of market volatility.

THE MOST POPULAR SILVER BULLION
Premium Quality-$2000 Order Free Shipping
Our Buy Price
Our Sell Price

$1000 Face 90% Ave Circ Silver Coin Pre-65 (715 Oz)
$9300.00
Out Of Stock

$1000 Face 40% Ave Circ Silver Halves (295 Oz)
$3550.00
$3900.00

Comex Bars 1000oz .999 fine
At Spot
+80¢

100 Oz Johnson Matthey/Engelhard Bars (.999 Fine)
$1273.00
Out Of Stock

1 Oz Generic Silver Rounds (.999 Fine)
Spot+$1.00/oz.
Out Of Stock

10 Oz Generic Silver Bars (.999 Fine)
Spot+$1.00/oz.
Out Of Stock

US Silver Eagles 1 Oz 2008 Box of 500
$7365.00
$8115.00

Canadian Silver Maple Leaf 1 Oz 2008 Box (500)
$6615.00
Out Of Stock

Backdate US Silver Eagles Lots of 100
+ $3.00
Out Of Stock

2008 Austrian Philharmonic Silver 2008 Box (500)
$6615.00
Out Of Stock

PCGS MS65 Peace Dollars – Box of 20
$3000.00
$3500.00
 By bluejay

10/03/2008  4:14PM

The article is out of sequence and belongs below the opening statments of the entry below.


The Gold Standard Strikes Back...

By Antal Fekete
Oct 2 2008 4:40PM

www.professorfekete.com



…WITH A 36-YEAR LAG

(Part 2 of 2)

The way to resolve the credit crisis: Recapitalize the banks with gold

Privatizing profits, socializing losses

The 0.7 trillion dollar bailout plan of Treasury Secretary Paulson must be seen for what it is: a scheme to privatize profits while socializing losses. The scare tactics with which he was trying to railroad it through Congress has failed and the world is better for it. The malady has to be diagnosed properly. I summarize the popular diagnosis in five points.

The bursting of the housing bubble has led to a surge of defaults and foreclosures which has, in turn, led to a plunge in the value of mortgage-backed securities ? assets which are in effect capitalized mortgage payments.


These losses have left many banks short on capital account. Their problems were compounded by the fact that as their capital ratios were shrinking, rather than reducing their debt exposure they aggressively increased it.


“Leveraging” is the word to describe the deliberate shrinking of capital ratios, i.e., making smaller capital support a larger amount of risks. Aggressive leveraging was characteristic of the pre-crisis boom.


When they recovered after the dizzying ride, banks needed a microscope to read their capital ratios and they reacted in a predictable way. They were unwilling (unable?) to fulfill their mission to provide the credit that the national economy needs for its day-to-day operation.


As a defensive measure financial institutions have been belatedly trying to pay down their debt by selling assets, including mortgage-backed securities, but as they were doing it simultaneously, they drove down asset prices. This has damaged their balance sheets even more. A vicious circle is engaged that some call the “paradox of de-leveraging.”
Capital destruction

I should hasten to say that I disagree with this popular diagnosis which puts the cart before the horse. My diagnosis, described in the first part of this article, identifies the destruction of capital as the cause, and the credit crisis as the effect.

The problem goes back to the U.S. government foolish decision to destabilize the interest-rate structure (and, hence, bond prices) in 1971. As a consequence, long-term interest rates shot up to 16 percent per annum by the early 1980’s, from where they started their long descent that still continues.

Falling interest rates destroy capital as they raise the liquidation-value of debt contracted earlier at higher rates. By ‘liquidation value’ is meant the sum that will liquidate the debt, should it be necessary to pay it off before maturity. In a falling interest-rate environment it will take a larger sum to retire the same debt. Why? Because the scheduled stream of interest payments is now capitalized at a lower rate of interest and, therefore, it falls short in liquidating the debt.

This means that, paradoxically, falling interest rates do not alleviate but aggravate the burden of debt. All observers miss this point as they blithely assume that debt is automatically refinanced at the lower rate. It is not. Falling interest rates create a deficiency on capital account since it takes a bigger bite to service existing debt than originally provided for, and the deficit is made up at the expense of capital. Over-leveraging is not the cause; it is the effect. What it shows is that the banks do not pay heed; they persist in error. They simply ignore shrinking capital ratios. This ultimately causes wholesale bankruptcies, leading to the vicious downwards spiral.

The banks should have made provision to compensate for eroding capital as interest rates were falling. None of them did. None of them understood the insidious process of capital erosion in the wake of declining interest rates. They reported losses as profits. Then they were hit by the negative feedback: capital eroded further. When the truth dawned upon them, it was already too late.

Interest rates have been falling for the past 28 years. The liquidation value of outstanding debt has been increasing by leaps and bounds. It reached the tipping point in February, 2007 as indicated by the unprecedented jump in the price of credit-default swaps. It revealed that any further decline in the rate of interest would plunge bank capital into negative territory. At this point capital dissipation stops: there is nothing more left to dissipate. For the banks, this is sudden death.

No commentator could explain why banks have all run out of capital at the same time, while making obscene profits. My explanation is simple. There have been no profits, obscene or otherwise. The banks were paying out phantom profits in the belief that their capital accounts were in good shape. They weren’t. The banks were unaware that the falling interest rate structure has been making inroads on their capital. Since all banks have been working with microscopic capital ratios as a result of 28 years of capital erosion, the failure of one single bank would trigger the ‘domino-effect’ on the rest.

Why gold?

This puts the role of gold into high relief. Had gold been retained as a component of bank capital, credit-default swaps would have never been invented. Gold is unique among financial assets in that it has no corresponding liability in the balance sheet of others. Gold is the only financial asset that will survive any consolidation of bank balance sheets,in contrast with paper assets that are subject to annihilation (e.g., when the bank is consolidated with its counterparty holding the liability side of that asset). Suppose we consolidate the balance sheets of the global banking system. Then all assets will be wiped out with the sole exception of gold. But since the global banking system as it is presently constituted has no gold assets, under any consolidation the banks will be denuded of assets while note and deposit liabilities to the public remain. This is why the regime of irredeemable currency is susceptible to collapse that could be violent, taking place with lightening speed. It can also be seen that trying to save banks from collapsing through consolidation, mergers, takeovers, and shotgun marriages is pouring oil on the fire: it accelerates the meltdown of bank capital, rather than retarding it.

Implosion of the derivatives monster

My thesis also explains the explosive growth of the derivatives markets. First round insurance against decline in the value of bonds in the banks’ portfolio can be had by selling bond futures. Those writing first-round insurance need to cover their assumed risk in the form of second-round insurance, they do so by selling call or buying put options on bond futures. But those writing second-round insurance also need to cover their risk: they do it in the derivatives market by purchasing credit-default swaps. The point is that an infinite chain of credit-default swaps is being built on every bond in the banks’ portfolio, as shown by the derivatives monster’s more than doubling in size every other year, already having reached the size of one half quadrillion dollars and still counting.

Why is the derivative monster so dangerous? Because it is subject to implosion that could destroy an inordinate amount of bank assets. If the derivatives tower is consolidated, then its value collapses to zero as claims are wiped out by counter-claims. It is possible that this implosion has already started, but the banks (and their supervisory agencies) keep the lid on this information to avoid a world-wide panic. The earth quakes badly under the foundations of the Derivatives Tower of Babel. Its toppling may be imminent. If gold had been retained as a component of the bank capital structure, then there would have been no derivatives monster to fret about.

Those who explain the proliferation of derivatives by the popularity of “dry swaps”, that is to say, swaps created for the sole purpose of speculative profits they promise in view of their ultra-low price-to-reward ratio, are wrong. All those credit-default swaps were purchased by actual insurers insuring actual risks going with bond ownership, in trying to hedge their own risks.

Recapitalizing banks with gold

The credit crisis could be solved through the recapitalization of banks with gold. The Treasury should pledge to match subscriptions of new private capital, in gold, at the ratio of two to one. This means that two gold shares of capital stock subscribed by the private sector (individuals, firms, and institutions) shall invite one share of capital stock subscribed by the Treasury. Gold subscribed by the private sector should be constitutionally guaranteed against capital levy and confiscation.

There is no better use to which Treasury gold can be put which has been foolishly idled for the past 36 years. What is needed is the mobilization of gold hoarded by the Treasury, as well as of gold hoarded by the private sector. The trouble is that much of the privately owned gold is in hiding and won’t surface for reasons of lack of confidence in the monetary system. But as soon as there is a market for the shares of the recapitalized banks, private gold can be coaxed out of hiding and made to participate actively in the great task of rebuilding world credit.

Capital stock of the recapitalized banks would pay dividend, in gold, at the rate of one tenth of one percent per annum to stockholders, exempt of all taxes. This would make it possible, even for people of modest means, to acquire gold earning a safe return in gold. The maliciously false propaganda of the past decades that gold is a sterile asset in that it earns no interest is easy to refute. Gold has been lent and borrowed at interest (facetiously called the ‘lease rate’) without interruption, in spite of its so-called ‘demonetization’ by the government. In fact, the gold rate of interest is the benchmark on which all other interest rates are still based, after adding a risk-premium reflecting the risk that the monetary unit may lose its gold exchange value.

The tax-exempt feature of dividends has great merits to recommend it, especially if no other exemptions across the economic landscape are granted. You could look at it as society’s protection of widows and orphans, and other members of society who are unable to fend for themselves in a competitive environment, to live in dignity away from the hurly-burly of the investment world.

What is the use of recapitalizing banks with irredeemable promises to pay? It has been tried for the past 36 years; it doesn’t work.

No chain is stronger than its weakest link

The newly recapitalized banks must offer their old assets for sale to the public, in exchange for the gold shares of capital stock, through competitive auctions. In this way the true value of the old paper assets can be determined, and whatever can be salvaged will be salvaged. The market for bank assets, presently frozen, would be made liquid once more. If a bank wants to retain a part of its old assets in the balance sheet, it must bid for it in the same way as if it were buying from another bank through competitive auction. If an asset cannot be disposed of in this way, then it must be written off. Any delay in validating bank assets through the sieve of competitive auction will only prolong and deepen the crisis.

The ‘securitization’ of bank assets was an idiotic strategy motivated by the fraudulent idea that in lumping sub-prime assets together with valid assets would somehow impart value to the former, and the marketability of the product would be enhanced. This, of course, is just a ploy to cheat the buyer. It is like trying to make a chain containing a weak link stronger by adding any number of strong links. The weak link must be replaced with a strong one. No chain can be stronger than its weakest link.

The re-liquefying of bank assets is a first order of business in the present runaway global credit crisis. We are past the point that the wild-fire can be localized. Mobilization of gold is the only way.

Save the pension funds!

This crisis is a warning, possibly the last one, that the recapitalization of banks with gold cannot be further postponed without risking the total collapse of the financial system. If there was some hope that the Treasury might have a contingency plan to mobilize gold in case of a crisis such as this, the Paulson bailout plan has dispelled it. When the moment for the ‘break-the-glass’ rescue plan has arrived, what did we find behind the broken glass? More irredeemable promises to pay, to augment bank capital. All chaff, no grain.

Global credit collapse would bring enormous hardship in its train for ordinary people who have worked hard and saved hard through a lifetime only to see the fruits of their efforts going up in smoke. The result could be total social chaos and lawlessness. At risk are all the insurance companies, pension funds, money market funds. Also at risk is the taxing power of the government, as a prostrate economy won’t be able to bear the tax burden, but will spawn a grey economy that finds ways to evade taxes. The rejection by the U.S. House of Representatives of Paulson’s bailout plan can be viewed as a taxpayer revolt. Is it the first, with more to come?

Close of Keynes’ and Friedman’s system

Understandably, it will be hard for policy-makers, academia and media, and the accountants’ profession to admit that they have been wrong all along about gold and its essential role in the economic bloodstream and in accounting. They have fallen victim to the charm of John Maynard Keynes, the prankster who invented the idea that gold was a barbarous relic, and the gold standard was a ‘contractionist fetter’ upon the world economy. Now we have proof that the blame for the contraction should be assigned, not to the use but to the misuse of gold. The debt collapse is the burial ground for Keynesianism.

After Keynes was gone, policy-makers, academia and media, and the accountants’ profession fell under the spell of another visionary and adventurer talking with a forked tongue, Milton Friedman. He was fond of posing as a free-market man, but in promoting irredeemable currency he did more than anybody, save Keynes, to destroy the free market. Friedman promoted the spurious idea that gold is superfluous in the international monetary system as floating foreign exchanges rates can mimic the operation of the gold standard and will balance the trade accounts. But as the record shows, Friedmanite nostrums have ruined the dollar, as well as the once flourishing and peerless American productive apparatus.

Politicians, academia and media, and the accountants’ profession must swallow their pride and get the confession off their chests that their prognostication, policies, and advice about gold have been in error. If they fail to do this, and continue to block the way of gold to make a return to the economic bloodstream, then their responsibility for the suffering caused by the credit collapse in this country and in the world will be total. They will be shown as doctrinaire wreckers of human cooperation under the system of division of labor, who muzzled their critics and usurped unlimited power, while paving the way to a world disaster akin to that of the Bolshevik revolution.

After the close of Marx’ system, the close of Keynes’ and Friedman’s system is inevitable. But the wounds they have caused would take a long, long time to heal.
 By bluejay

10/03/2008  4:11PM

Gold $834.80
Silver $11.16
Gold/XAU Ratio 7.45
Gold/Silver Ratio 74.80

It is supected that the Treasury kept a lid on the gold prices today at the $840 to $845 range. With today's House approval of the $700 billion bailout package the Treasury made sure that gold's activity reflected the save-all plan as being positive for the system.

The following informative article by Antal Fekete was written prior to the House vote.
 By bluejay

10/02/2008  10:10PM

Last on gold is $842.60.

One of the largest coin dealers in the country, California Numismatic Investments, has currently the lowest amount of gold and silver bullion coin inventory ever recorded.


THE MOST POPULAR GOLD BULLION
Gem Uncirculated-$2000 Order Free Shipping
Our Buy Price
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Eagle US Gold Bullion (1 Oz)
$881.00
Out of Stock

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$881.00
Out of Stock

US Gold Bullion Eagle (1/2 Oz)
$447.00
$462.00

US Gold Bullion Eagle (1/4 Oz)
$222.00
$234.00

US Gold Bullion Eagle (1/10 Oz)
$94.00
Out of Stock



US Buffalo Proof 1 Oz Gold-Box & Certificate
$900.00
$970.00

US Eagle Proof 1 Oz Gold-Box & Certificate
$1040.00
$1140.00



Austrian Philharmonic Gold Bullion (1 Oz)
$871.00
Out of Stock

Australian Kangaroo Gold Bullion (1 Oz)
$871.00
Out Of Stock

South African Gold Bullion Krugerrand (1 Oz)
$871.00
Out of Stock



1 Oz Gold Bullion Bar - Pamp Suisse With Cert
$851.00
$881.00

100 Gram Gold Bar-Pamp Suisse (3.21 Ozs)
$2735.00
Out Of Stock

10 Oz Gold Bar - Pamp Suisse With Cert
$8470.00
Out Of Stock

Kilo Gold Bullion Bar-Pamp Suisse/Cert (32.15 Oz)
$26700.00
$27400.00



Austrian/Hungarian 100 Corona (0.98 Gold Oz)
$824.00
Out of Stock



Chinese Panda (1 Gold Oz)
$871.00
Out of Stock



Special Australian Lunar Dragon
$1500.00
$1800.00

Australian Lunar Gold Set 1996-2007 Complete 12 coins
$11720.00
Out Of Stock



Mexican Gold 50 Peso (1.2 Gold Oz)
$1009.00
$1039.00



US $20 Liberty Gold - XF to AU - Dealer's Choice
$1060.00
$1110.00



British Sovereign Circulated (.235 Gold Oz)
$201.00
Out Of Stock



Swiss 20 Franc Brilliant Unc. (Pre-1933 .186 Oz)
$170.00
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French 20 Franc Brilliant Unc. (Pre-1933 .186 Oz)
$170.00
Out Of Stock


Please note these prices subject to after market changes because of market volatility.

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Premium Quality-$2000 Order Free Shipping
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$1000 Face 90% Ave Circ Silver Coin Pre-65 (715 Oz)
$9125.00
Out Of Stock

$1000 Face 40% Ave Circ Silver Halves (295 Oz)
$3400.00
Out of Stock

Comex Bars 1000oz .999 fine
At Spot
+80¢

100 Oz Johnson Matthey/Engelhard Bars (.999 Fine)
$1250.00
Out Of Stock

1 Oz Generic Silver Rounds (.999 Fine)
Spot+$1.00/oz.
Out Of Stock

10 Oz Generic Silver Bars (.999 Fine)
Spot+$1.00/oz.
Out Of Stock

US Silver Eagles 1 Oz 2008 Box of 500
$7125.00
Out Of Stock

Canadian Silver Maple Leaf 1 Oz 2008 Box (500)
$6625.00
Out Of Stock

Backdate US Silver Eagles Lots of 100
+ $3.00
Out Of Stock

2008 Austrian Philharmonic Silver 2008 Box (500)
$6625.00
Out Of Stock

PCGS MS65 Peace Dollars – Box of 20
$3000.00
$3500.00




*Comex acceptable bars vary in size and are traded using the exact stamped weight.






The Silver Institute is a source of information on silver, including charts and statistics.




THE MOST POPULAR PLATINUM BULLION
Gem Uncirculated-$2000 Order Free Shipping
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United States Platinum Eagle (1 Oz, .999 Fine)
$1020.00
Out of Stock

Canadian Platinum Maple Leaf (1 Oz, .999 Fine) *
$970.00


Australian Platinum Koala (1 Oz, .999 Fine) *
$970.00


Isle Of Man Platinum Noble (1 Oz, .999 Fine) *
$970.00


* = These coins are no longer produced thus we post only bid prices. Ask prices subject to availability.






THE MOST POPULAR PALLADIUM BULLION
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Palladium Bullion Suisse Bar (1 Oz, .999 Fine)
$217.00
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$217.00
Out Of Stock
 By bluejay

10/02/2008  11:38AM

Gold $837.80 off $30.40
Silver $11.13 off $ 1.46
Gold/XAU Ratio 7.27
Gold/Silver Ratio 75.27

Today's massive market manipulation of gold is effecting silver and putting the ratio's of gold to the XAU Index and the silver ratio at historically cheap levels.

We are looking at the ratio's of gold to the Index and silver that may not ever be seen again. It is just unbelievable what a well orchestarated and vicious attack can do to values in the precious group. This will be classic example someday of how very very desperate officials at the Treasury and the Federal Reserve have become in their efforts to keep money in the banking system. Their uncontrolled arrogance in continuing to prop up a failing fiat system will cost in the end dearly every American.

We are in the midst of historical times that can only push our currency into hyperinflation and practically destroy everyone's purchasing power way beyond their imagination. This unwinding massive financial meltdown will be written about in history books and will be, sadly, our legacy for years way after we are gone.

The following are today's words of wisdom from Jim Sinclair:

Posted On: Thursday, October 02, 2008, 1:09:00 PM EST

In The News Today

Author: Jim Sinclair


Dear Friends,

Follow this logic:

Paper is collapsing as there is no credit market right now for major and financial entities.

The masses sell Honest Money (Gold) and run into paper, backed by bankrupt governments.

Proper logic would be to sell that paper and move into gold and gold shares that are at giveaway prices.

History proves the latter to be the course of action to take

Respectfully yours,
Jim

Jim Sinclair's Commentary

This will go down as the dumbest thing our financial leaders ever do.

This has set off a huge amount of OTC default derivatives now moving to full value as a counterparty goes Chapter 11.

In a sense, do not let this happen to you. For God sake protect yourself

Gold is the only item that will, as the smoke clears, be understood as the single asset of wealth protection.

Lehman Hedge-Fund Clients Left Cold as Assets Frozen (Update3)
By Tom Cahill

Oct. 1 (Bloomberg) -- Lehman Brothers Holdings Inc.'s bankruptcy probably means the end of hedge-fund manager Oak Group Inc. after 22 years in business.

John James, who runs the Chicago-based firm with $25 million of assets, didn't buy Lehman stock or debt. Instead, his potentially fatal mistake was to rely on the bank's prime brokerage in London, a unit that provides loans, clears trades and handles administrative chores for hedge funds. He's one of dozens of investment managers whose Lehman prime-brokerage accounts were frozen when the company filed for protection from creditors on Sept. 15.

``We're probably going out of business and liquidate, game over,'' James, 59, said. ``We've lost 70 percent of our assets.''

The list of funds trapped in the Lehman morass keeps growing. London-based MKM Longboat Capital Advisors LLP said last week it will close its $1.5 billion Multi-Strategy fund in part because of assets stuck at Lehman, according to an investor letter.

LibertyView Capital Management Inc. of Hoboken, New Jersey, owned by Lehman's Neuberger Berman unit, told investors on Sept. 26 it had suspended ``until further notice'' attempts to calculate the value of its funds. LibertyView wasn't included in the Sept. 29 sale of Neuberger to Bain Capital LLC and Hellman & Friedman LLC.

More...
 By bluejay

10/02/2008  8:57AM

Last on gold is $834.90.

From http://www.jsmineset.com



Posted On: Thursday, October 02, 2008, 10:35:00 AM EST

A Modern Day Weimar

Author: Jim Sinclair

Dear Extend Family,

Unless the LIBOR rate drops sharply we are facing a planetary financial crisis next week.

For God's sake protect yourself.

Gold and gold related items will be the only true storehouses of wealth. The bailout bill is powerless to reverse what is now happening.

This is a modern day Weimar happening right before our eyes.

Respectfully yours,
Jim
 By bluejay

10/02/2008  8:51AM

Gold $829.00 off $39.20

It's quite predictable when gold will get attacked next by the government's two buddy bullion bank dealers.

Each time a crisis decision is made the bullion bankers and their following hedge fund mindless black boxes go into action.

This is no different that hiring a band and a cheer leading section to rave with excitement each time a bad monetary policy decision is made.

OTC derivatives is the problem and trying to sweep them into a corner like water will never work. Now, it appears that the accounting rules will be changed within the body of the recent bailout plan to allow the bankers to keep that water frozen in the corners of their banks.

The bottom line is that it is toxic waste. After it's sterile, to some degree, they'll dress it up to look different but it is still toxic waste. It's almost like putting a marshmallow on a cow paddy and calling it a bakery product.

All the Treasury is doing by depressing gold is trying to scare people away from cashing in their CD's and putting the funds into gold and silver. It is strongly suspected that these guys have had their fingers in drying up the supply of bullion coins to the public, to some extent.

Stay the course as Jim Sinclair has said many times. Protect yourself by eliminating the middle man between you and your assets.

In the following years your wealth will be determined by how liquid your assets are at the time that can be turned into gold, if it's available.

Right now, it's difficult to buy gold in smaller amounts. What do you think it's going to be like in a few years when gold is significantly above $1,000 and more people want it.

There is no time like the present.
 By bluejay

09/30/2008  11:06PM

Last on gold is $877.20

http://www.truveo.com/Awkward-Loan-Interview/id/3123347393
 By bluejay

09/30/2008  10:01PM

The last on gold is $881.50.

The following is another educational and informative article by Dr. Darryl Schoon. Both Dr. Schoon and Jim Sinclair advise us all to email representatives in the House expressing our opinions considering the proposed bailout of financial institutions.

Check out jsmineset.com for further comments concerning the bailout and a list of Republicans who voted for it for possible email comments.

What's Next?

By Darryl Robert Schoon
Sep 30 2008 12:01PM

www.drschoon.com


This article was written just prior to the announcement of the rejection of the bailout bill but has been qualified to reflect current conditions. Celebrate today's victory! It is a victory for all of us, whether we know it or not. Much thanks to Ron Paul and all the brave souls both Republican and Democrat who withstood their party's commands and instead sided with us, the people of the United States of America!

Darryl Robert Schoon

From a Reader on 9/25/08:

The town of 2,000 where I reside is functioning normally. The people haven't a glimmer or a clue or a suspicion of what America is facing and will be undergoing - it is painfully bizarre, almost maddening.

My "nightmare dreams" since January have concerned soon-to-occur events in the U.S. I cannot stop their flow. But I am often reminded of your prophetic statements made some nine months ago in the "Christmas on Threadneedle Street" essay. In your essay two salient and prescient paragraphs were written and both are relevant today:

“The triumph of the moneylenders over government is almost complete and because of it, in the coming crisis governments will protect the interests of bankers, not the people.”


“As we watched the New Year’s merriment from the Langham, I could not help but be reminded of the play, Cabaret, we had seen earlier that evening. Cabaret, set in 1931 Berlin, begins on New Years Eve and ends with the participants awaiting their respective fates in Hitler’s Germany. Most were in denial about what was to occur. The same is true today.”
Thank you for writing that essay, it deeply affected me at the time and still does.

Michael Thomas Bucci

Last New Year’s Eve, Martha and I were in London and from our room at the Langham Hotel we watched the fireworks over the Thames. That night, although England was celebrating the coming New Year, they were doing so in ignorance of what was to come—a financial cataclysm that would destroy the very system that had transformed their small island into a world power. Unbeknownst to the British, The City, the banker’s bunker, would soon be in shambles.

We were in London again last June and by then the mood had changed, the optimism that the wealth effect from the financial services industry—since when was parasitoidism considered an industry?— would sustain England was no more. By June, the troubles of The City and the collapsing British real estate bubble had stripped bare the fear that lies beneath hope.

The British bubble had burst and in more ways than one. In many ways, the British and Americans have shared and will continue to share a common fate, albeit with little of the power and glory of yesteryear. The immediate future of both England and the US will be in stark contrast to what was previous. The past will not be prologue.

BEING RIGHT IS BITTER MEDICINE IN BAD TIMES BEING WRONG HOWEVER WILL BE FATA.L

All of us, whether aware, asleep or in deep denial of our present circumstances are in the same boat, a boat that is rapidly sinking. Most people, however, have little awareness or understanding of what is happening. Michael Thomas Bucci’s recounting of his community’s ignorance is not unusual, it is the norm.

All of us who are aware of the reasons for the collapse of our economies are shocked by this bifurcated reality. We and those not yet aware exist in worlds as separate as black and white. What we share, however, is a mutual inability to change what is.

Those ignorant of what is to come, however, will suffer in far greater measure than those who understand what is happening. In the not too distant future, economic fear and uncertainty will be replaced by abject terror and despair; and if you don’t understand the now changing world, you will soon be its victim.

What is happening is an economic rendering that will destroy credit markets as we know them. The end of an era is at hand, the British banking system built on paper money, credit and debt is collapsing from within. Its collapse is just beginning and by its end, everyone will be affected.

We are witness to the end of an empire, an empire built on debased currencies, the substitution of debt and credit for gold and silver, and human greed. In the approaching end, the dying and damaged system built by bankers in collusion with governments will fall by its own hand.

The cost of prolonging its stay, however, will be steep. The attempted US $700 billion bailout of the bankers is only one step in the escalating and futile attempts of governments and bankers to preserve their immense power and wealth. It would do us well, especially now, to remember that our welfare is not their concern.

A MÉNAGE A TROIS BETWEEN GOVERNMENTS, BANKERS AND CITIZENS SOMEONE’S GETTING SCREWED (NOT IN A GOOD WAY)

It is often said that the road to hell is paved with good intentions and while that may sometimes be true, it is also true that hell is reached far more quickly when the road is paved with evil.

The road on which we now travel was built by bankers and governments together. The bankers’ purpose was to indebt society, e.g. governments, businesses, and producers and savers, whereas governments’ purpose was to gain as much power as possible; and if the original intent of both was not evil, it has certainly crossed that line since.

The bankers achieved their first step towards our present nightmare when the King of England in 1694 delivered the English people into the hands of the bankers. In return for the right to spend all he wanted, the King gave bankers the right to issue England’s currency as paper money and to charge compounding interest on the debts. This was to eventually indebt the English people into perpetuity.

The English then became directly responsible for the King’s wars and the increasing demands of government fed by its central bank, the Bank of England. Consequently, their debts became so great that that a new form of taxation had to be levied upon the English people—the income tax.

The tax on income was first implemented in 1799, in England, as a temporary tax,
as a source of revenue needed to finance the war against the French Army, lead
by Napoleon. It was repealed in 1816, after the English triumph in the Waterloo
Battle, due to strong opposition by society and the Parliament. The permanent
implementation of the tax on income occurred only in 1842, justified by the
increasing deficit of the English Treasury.

Luis Fernando Wasilewski

The English invention of the income tax, like their debasement of money and promotion of credit and debt, has now spread—as terrible ideas often do—around the world. Elected governments have continued this royal tradition, using the income tax to obligate the citizenry beyond their ability to repay; and, now, as a consequence citizens everywhere are being taken advantage of by those they elect.

Of this indebting, Thomas Jefferson warned almost two centuries ago:

To preserve [the] independence [of the people,] we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude. If we run into such debts as that we must be taxed in our meat and in our drink, in our necessaries and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England are, our people, like them, must come to labor sixteen hours in the twenty-four, give the earnings of fifteen of these to the government for their debts and daily expenses, and the sixteenth being insufficient to afford us bread, we must live, as they now do, on oatmeal and potatoes, have no time to think, no means of calling the mismanagers to account, but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-sufferers.

Thomas Jefferson to Samuel Kercheval, 1816.

No earthly consideration could induce my consent to contract such a debt as England has by her wars for commerce, to reduce our citizens by taxes to such wretchedness, as that laboring sixteen of the twenty-four hours, they are still unable to afford themselves bread, or barely to earn as much oatmeal or potatoes as will keep soul and body together. And all this to feed the avidity of a few millionary merchants and to keep up one thousand ships of war for the protection of their commercial speculations.

Thomas Jefferson to William H. Crawford, 1816.

Truth as well as human perfidy becomes more obvious with time’s passage.

We asked for signs
the signs were sent
Lyrics by Leonard Cohen
Anthem from the album The Future

THE SLAVES ARE GETTING RESTLESS THE DEFEAT OF THE BANKERS BAILOUT BILL

Bush’s $700 billion bailout bill has been defeated. It should have been named BSAAAAAA, for Bankers Screwing America Again And Again And Again—and no, all those A’s are not redundant and yes, I could have used another word but it would have been less acceptable.

The Rasmussen poll showed only 11 % of Americans supported the bill that would bail out the very bankers responsible for the destruction of the US economy. The passage of the banker’s bailout bill indemnifying investment banks would have been the same as bonusing the Nazis after WW II.

In Christmas On Threadneedle Street, I wrote that when the king and the moneylenders made their bargain, the king was believed the more powerful; and, at the time, he was. In the long term, however, the bankers got the better of the bargain. Today, investment banks are more powerful than governments.

The king to the banker did say
Tis I who ride you this day
This day it is true the banker did say
But tomorrow tis I who ride you
From Christmas On Threadneedle Street

In 1999, England’s Chancellor of the Exchequer Gordon Browne sold 415 tonnes of England’s gold reserves at the very bottom of the market, costing England billions in losses along with the loss of its bullion.

The rumor was that investment bank Goldman Sachs had a 1,000 tonne short position in the market and had bet the price of gold would go down. But when it went up Goldman Sachs could not cover. So, Gordon Browne sold 58 % of England’s gold reserves to help out Goldman Sachs by keeping down the price of gold. Gordon Browne is now the Prime Minister of England.

At the time, the CEO of Goldman Sachs was Henry Paulson. In less than 10 years, Paulson cost has England the majority of its gold reserves and may cost America trillions more before it’s over. Perhaps Paulson should be reclassified as a danger to the community or at least a gross public nuisance because of what he has done to England and the US. With his position comes responsibility—or does it?

1) “The triumph of the moneylenders over government is almost complete and because of it, in the coming crisis governments will protect the interests of bankers, not the people.”

From Christmas on Threadneedle Street January 5, 2008

The following is taken from today’s Wall Street Journal, Sept 29, 2008:

To some, the government's decision to resort to a bailout represents a tacit admission: For all officials' desire to allow markets to punish the risk-taking that engendered the crisis, banks have the upper hand.

WHAT’S NEXT?

Our present problems began with the establishment of the Bank of England in 1694 which substituted their paper money for England’s gold and silver. Those troubles gained momentum when US bankers did the same in 1913 with the creation of the Federal Reserve Bank in the US.

From these central banks issued the first debt-based paper money that was to eventually be leveraged beyond the capacity of capital markets to absorb or contain. Within 20 years after the Federal Reserve was created in the US, the Fed’s loose credit policies plunged the world into the Great Depression of the 1930s.

Now, in 2008, the same loose credit policies of the Federal Reserve are again about to plunge the US and perhaps the world into another Great Depression even more destructive than the first. The banks may not survive, indeed they are already failing—and neither may the governments.

The coming together which led to the present falling apart was the collusion of banks and governments to substitute paper money for gold and silver. Therein lies the key to survive what is to come, an end that is already in motion.

Last year on New Year’s Eve, Martha and I were in London. This year we will be in New York City. I wonder what the mood of Americans will be then, on New Year’s Eve when they bring in the New Year. Hopefully, it may be a continuation of what happened today.

Today’s repudiation of Wall Street’s brazen demand to be bailed out by American taxpayers’ may be the beginning of America’s long needed and long awaited renewal. Americans should now check on how their Representatives voted on the bailout bill.

If they voted against the bailout, they should be congratulated. If they voted for it, they should be told bluntly and strongly they will not receive your vote in the future. Remember, it’s all about jobs and their jobs are at stake too.

The rebirth of America will only happen when our system of central bank debt-based money imported from England is thrown out; and, if England, too, wants to survive, the English people may well consider doing the same. Once upon a time, gold and silver were replaced by paper money. The opposite can happen as well.

The road to the future must be repaved if we are to survive the present crisis and coming collapse. Gold, silver, and faith must be our pavement of choice and, of the three, faith is the most precious.

Darryl Robert Schoon
www.survivethecrisis.com
 By bluejay

09/30/2008  4:59AM

Last on gold is $893.90

The following is strong evidence that the public is finding it more and more difficult to acquire bullion coins:

California Numismatic Investments is one of America's largest dealers in precious metals. With annual sales exceeding 80 million dollars, we deliver the finest quality standard in the industry. Your satisfaction is guaranteed and backed with 25 years of investor service.


THE MOST POPULAR GOLD BULLION
Gem Uncirculated-$2000 Order Free Shipping
Our Buy Price
Our Sell Price

Eagle US Gold Bullion (1 Oz)
$928.00
Out Of Stock

Buffalo US Gold Bullion (1 Oz)
$928.00
Out Of Stock

US Gold Bullion Eagle (1/2 Oz)
$468.00
$483.00

US Gold Bullion Eagle (1/4 Oz)
$237.00
249.00

US Gold Bullion Eagle (1/10 Oz)
$97.00
$104.00



US Buffalo Proof 1 Oz Gold-Box & Certificate
$950.00
$1000.00

US Eagle Proof 1 Oz Gold-Box & Certificate
$1050.00
$1150.00



Austrian Philharmonic Gold Bullion (1 Oz)
$929.00
$949.00

Australian Kangaroo Gold Bullion (1 Oz)
$923.00
Out Of Stock

South African Gold Bullion Krugerrand (1 Oz)
$923.00
Out Of Stock



1 Oz Gold Bullion Bar - Pamp Suisse With Cert
$903.00
$923.00

100 Gram Gold Bar-Pamp Suisse (3.21 Ozs)
$2900.00
Out Of Stock

10 Oz Gold Bar - Pamp Suisse With Cert
$9030.00
$9230.00

Kilo Gold Bullion Bar-Pamp Suisse/Cert (32.15 Oz)
$29000.00
Out Of Stock



Austrian/Hungarian 100 Corona (0.98 Gold Oz)
$866.00
Out of Stock



Chinese Panda (1 Gold Oz)
$913.00
Out Of Stock



Special Australian Lunar Dragon
Call for Quote
$1900.00

Australian Lunar Gold Set 1996-2007 Complete 12 coins
$12200.00
Out Of Stock



Mexican Gold 50 Peso (1.2 Gold Oz)
$1068.00
$1098.00



US $20 Liberty Gold - Almost Uncirculated
$1060.00
$1110.00



British Sovereign Circulated (.235 Gold Oz)
$213.00
Out Of Stock



Swiss 20 Franc Brilliant Unc. (Pre-1933 .186 Oz)
$176.00
Out Of Stock

French 20 Franc Brilliant Unc. (Pre-1933 .186 Oz)
$176.00
$186.00


Please note these prices subject to after market changes because of market volatility.

THE MOST POPULAR SILVER BULLION
Premium Quality-$2000 Order Free Shipping
Our Buy Price
Our Sell Price

$1000 Face 90% Ave Circ Silver Coin Pre-65 (715 Oz)
$10100.00
Out Of Stock

$1000 Face 40% Ave Circ Silver Halves (295 Oz)
$3850.00
$4200.00

Comex Bars 1000oz .999 fine
At Spot
+80¢

100 Oz Johnson Matthey/Engelhard Bars (.999 Fine)
$1398.00
Out Of Stock

1 Oz Generic Silver Rounds (.999 Fine)
Spot+50¢/oz.
Out Of Stock

10 Oz Generic Silver Bars (.999 Fine)
Spot+50¢/oz.
Out Of Stock

US Silver Eagles 1 Oz 2008 Box of 500
$7990.00
$8865.00

Canadian Silver Maple Leaf 1 Oz 2008 Box (500)
$7490.00
Out Of Stock

Backdate US Silver Eagles Lots of 100
+ $2.50
Out Of Stock

2008 Austrian Philharmonic Silver 2008 Box (500)
$7490.00
Out Of Stock

PCGS MS65 Peace Dollars – Box of 20
$3000.00
$3500.00




*Comex acceptable bars vary in size and are traded using the exact stamped weight.






The Silver Institute is a source of information on silver, including charts and statistics.




THE MOST POPULAR PLATINUM BULLION
Gem Uncirculated-$2000 Order Free Shipping
Our Buy Price
Our Sell Price

United States Platinum Eagle (1 Oz, .999 Fine)
$1112.00
$1182.00

Canadian Platinum Maple Leaf (1 Oz, .999 Fine) *
$1052.00


Australian Platinum Koala (1 Oz, .999 Fine) *
$1052.00


Isle Of Man Platinum Noble (1 Oz, .999 Fine) *
$1052.00


* = These coins are no longer produced thus we post only bid prices. Ask prices subject to availability.






THE MOST POPULAR PALLADIUM BULLION
Gem Uncirculated-$2000 Order Free Shipping
Our Buy Price
Our Sell Price

Palladium Bullion Suisse Bar (1 Oz, .999 Fine)
$236.00
Out Of Stock

New! Palladium Bullion Canadian Maple Leaf
$236.00
Out Of Stock
 By bluejay

09/28/2008  11:10PM

Gold $876.90
Silver $13.74

Strange things are happening with the conduits of gold and silver from mines to the public in the form of bullion coins. It all started a few months back when the US Mint halted sales of the one ounce gold eagles because of a shortage of blanks. Then the Mint stated that they were going to resume those sales but they would be allocated. Then a few days ago the Mint halted sales of the one ounce gold Buffalo coins, saying an exhaustion of supplies.

Now we have the following report in Ireland that government mints and refiners had stopped offering new supplies.

Breaking News Business Ireland

Gold and silver dealer reports an ‘unprecedented’ shortage of metals

Sunday, September 28, 2008 By David Clerkin, Markets Correspondent

A surge for demand in gold and silver has resulted in an unprecedented shortage of the metals for retail investors in recent days, according to Gold and Silver Investments, a Dublin-based firm that allows retail investors to speculate on movements in the value of precious metals.

Gold and Silver Investments director Mark O’Byrne said the supply of gold and silver available for small retail investors suffered a dramatic deterioration within hours on Friday, as wholesalers reported that government mints and refiners, the primary suppliers of the metals, had stopped offering new supplies.

‘‘It’s absolutely unprecedented,” said O’Byrne, who said the shortages were likely to drive up the costs of gold and silver in the secondary market.
--------------------------

Gold is and will always be the ultimate power. Do governments believe that there is too much gold and silver going into the hands of the public? All this is taking place within the global meltdown of OTC derivatives. The fiat currency system is under attack when the public can't get enough precious metals in exchange for their currencies.

Or could it be something more basic and simple? Could it be that the sellers of physical gold and silver don't believe the last posted prices of these metals?

On E-Bay, for example, the silver eagle one ounce coins sell for around $20 each. If you buy the coins from golddealer.com in Englewood, California the price is $18 a coin. At that price you are paying a hefty 31% above the last silver COMEX price in NY of $13.74.

In regards to the physical bullion gold coin market no comparisons are available for US one ounce coins at golddealer.com because they are not offered. They do have some 1/2 ounce gold eagles which are for sale at $480 each which is the same as paying $960 an ounce for gold which is a 10% premium above the last price.

Are people wising up to the rigging of these markets? COMEX supposedly has gold and silver on deposit in their vaults to back up futures trading in these items but are they audited by an independent concern?

Mike related the story to us some time ago about his friend that wanted to take delivery on a gold contract for 100 ounces and was told to either settle in cash or exchange his contract for another one, further out in time. That didn't make sense to him and it wouldn't make sense to any reasonable person, either.

What's interesting is the London Bullion Market is basically a cash and carry physical market. Do shenanigans go on in this market too as is suspected of COMEX? How about the TOCOM in Japan?

Are fiat currency governments all rigging the precious metals to dampen investor demand? You can bet Russia isn't. It has been again rumored that they will be backing the Ruble with gold and some form of convertibility into it.

Concerning China, they are the world's largest producer of gold and may not choose to export it at questionable world prices. In 2007 China mined 276 tons of the metal or 9,700,000 ounces. Their domestic production is expected to increase while many country's production totals are in decline.

In conclusion it appears appropriate to view the COMEX prices for both gold and silver with suspicion and the transacted prices of the physical metals as creditable.
 By bluejay

09/27/2008  1:53PM

Last of gold is $877.80

The following is an excerpt from the Casey Research Saturday morning comments.

“Some of the largest wholesalers in the world are out of all bullion product except for exchange bullion product - 100 ozt and 400 ozt gold bars and 1,000 ozt silver bars. They cannot supply South African Krugerrands, American Eagles and Buffaloes, Canadian Maples, Austrian Philharmonics, Chinese Pandas, Australian Nuggets (all 1 oz.). They cannot supply 1 oz. or 10 oz. gold bars or 1, 10 and 100 oz. silver bars. And I have confirmed they cannot sell any European or world gold coins such as British sovereigns, francs, marcs, Mexican pesos etc. etc.

“They have confirmed that there is no physical supply at all from the primary marketplace - large refiners and government mints. Worryingly they are being informed that this is not a temporary problem and there are no supply side commitments and there is little in the pipeline for the foreseeable future due to excessive and unprecedented demand. Secondary supply from the public and retailers is nearly non existent as there are nearly no sellers and nearly all buyers.

“Bullion shortages and the confluence of unprecedented demand and limited supply in conjunction with macroeconomic, inflation and systemic factors is leading to extremely bullish conditions for the gold market - probably even more bullish than in the 1970s when gold rose some 3,000% from $35 to over $850 in just 9 years.”
 By gfxgold

09/26/2008  5:31PM

US Mint Suspends Sale of 24-Karat Gold Coins. Read this story at: http://hosted.ap.org/dynamic/stories/M/MINT_GOLD_COINS?SITE=MOSPL&SECTION=HOME&TEMPLATE=DEFAULT
 By bluejay

09/26/2008  4:56PM

Gold $877.80
Silvr $ 13.31
Gold/XAU Ratio 6.35
Gold/Silver Index 65.95

Pierre Lossande made some observations in the September 19, 2008 Gold Report.

Mr. Lassonda is the Chairman of the Board of Franco-Nevada. Pierre is one of Canada's most astute gold analysts.

"What really bothers me is that in the 1980's and 1990's, we saw three to five discoveries of 5-20 million ounces ounces each and upwards of 30 to 50 million ounces(of gold) a year. That is what makes or breaks an industry. There are no discoveries of that magnitute now."

"Gold supply fell by 4% in the first six months of this year. This will be the seventh year in which production has dropped. It’s probably going to fall more in 2008 than it has in prior years. Australia, Indonesia, Canada, and the U.S. are all experiencing declines. Combine this with the drop off in central bank sales. 2008 will have the lowest central bank sales on record because the bankers have all had theirs head handed to them. They all sold gold for $250, $350, and $400—losing tens of billions of dollars. We could soon reach the point where central bank sales will be non-existent. That represents a loss of 500 tons of gold a year in a 3,000-ton market. That’s huge—nearly 20% of supply. Recycling has declined in the last six months too. Even though demand fell when gold hit $900 and $1,000, the supply has been shrinking just as fast. I don't see gold dropping much below $800—plus or minus $50.
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