GOLD: Will the price of gas reflect the price of gold?

“… … the idea that gold will break above $5,000 per ounce in due time.”
https://www.economicpolicyjournal.com/2020/07/gold-price-breaks-above-1900.html

# – # – # – # – #

​This will be a disaster for Joe Sixpack and “We, The Sheeple”.

5k$/oz gold implies 50$​/oz silver and if I go my math correctly 12.50$/gal gasoline.

I don’t think the USA can survive that.

Today the price of gold and silver is artificially suppressed by the Gooferments and the Central Banks of the world.  If, and not so big an “if” imho, the U$D loses its “reserve currency” status and the “petrodollar” monopoly ends,  the USA will be hurting as the “very ugly chickens” come home to roost (i.e., the FED printed trillions come back to the USA).

—30—

GOLDBUG: The Greatest Gold Quotes Of All Time | Zero Hedge

“Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves.” – Norm Franz

Source: The Greatest Gold Quotes Of All Time | Zero Hedge

# – # – # – # – #

I liked this one best!

“We are often told that the Gold Standard will shackle us to the United States. I will deal with that in a moment. I will tell you what it will shackle us to. It will shackle us to reality. For good or for ill, it will shackle us to reality. – Winston Churchill

— 30 —

GOLDBUG: This Gold Rally Is Different For One Critical Reason

From Birch Gold Group This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Why the gold rally might be different this time, gold could continue to soar if the Fed keeps cutting rates, and gold and silver prices push higher following weak U.S. jobs data.

Source: This Gold Rally Is Different For One Critical Reason

*** begin quote ***

Isbitts believes that this one, however, will be markedly different. In the previous two instances, while the gold market flourished, it also had a safe-haven competitor in the form of government bonds, as the 10-year Treasury’s yields stayed between 4% and 5%.

*** end quote ***

It certainly seems that the Gooferment bonds are no longer competitive in the “safety” dimension. Nor, would they compete on the “ROI” dimension (i.e., gold pays no interest)!

It’s a sad state of affairs the “We, The Sheeple” will find themselves in. Like Venezuela, Zimbabwe, and German Weirmar Republic.

Hope everyone is saving nickels since they are the only currently circulating US coin with any intrinsic value.

— 30 —

GOLD: How can we ever get the debt and continual deficits under control?

https://www.zerohedge.com/news/2018-02-08/strong-dollarweak-dollarwhat-about-gold-backed-dollar

“Strong Dollar”…”Weak Dollar”…What About A Gold-Backed Dollar?
by Tyler Durden
Fri, 02/09/2018 – 05:00

*** begin quote ***

Contradictory Palaver

The recent hullabaloo among President Trump’s top monetary officials about the Administration’s “dollar policy” is just the start of what will likely be the first of many contradictory pronouncements and reversals which will take place in the coming months and years as the world’s reserve currency continues to be compromised.  So far, the Greenback has had its worst start since 1987, the year of a major stock market reset.

*** end quote ***

How can we ever get the debt and continual deficits under control as long as the Gooferment has an unlimited checkbook?

Argh!

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GOLD: Why should gold be money? No bureaucrats required!

2017-Jul-16

From (the brilliant) Alasdair Macleod: “Understanding Money and Prices”

“Gold matters, because, excepting silver, it is the only form of money that has survived since individuals discovered the convenience of money over barter. It is beyond the control of governments, as they cannot issue it without acquiring it first. It is subject to the constraints of its quality, so that as a medium of credit it cannot be debauched, only defaulted upon. Its relative inflexibility and its soundness are the primary reason governments do not like monetary gold, and force their preferred alternative on their citizenry. The vested interest of government is therefore to discourage, or even ban the use of gold as competing money.”

# – # – # – # – # 

Imagine the world without any “central banks”?

Imagine the world without bureaucrats “setting” interest rates?

Imagine the world without politicians borrowing “money” to spend to buy votes?

Sounds like a pretty good world to me.

You could save for your retirement and know that Gooferment “inflation” couldn’t steal your wealth from you.

If a politician wants to start a war, then they have to pay for it.

If a bureaucrat wants to increase his staff, then they have to pay for it.

If the “community organizer” wants to get “free” stuff, then they have to pay for it.

Go ahead “raise taxes” and see how that worshippers out for you.

Argh!

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GOLDBUG: Alternatives to “soon be virtually worthless Federal Reserve Notes”

https://www.lewrockwell.com/2017/05/no_author/another-ron-paul-victory/

LewRockwell.com anti-state•anti-war•pro-market

In Blow to Federal Reserve, Arizona Just Legalized Gold and Silver as Currency
By Shaun Bradley
The Anti-Media
May 27, 2017

*** begin quote ***

The current economic realities affecting our quality of life will continue to force local representatives to take action while Congress faces gridlock. Without establishing alternative options for communities across the country, our entire standard of living may fall fully into the hands of the establishment politicians in Washington DC — more so than it already has.

There is a subtle ongoing realization that no matter what the pundits and politicians claim, there is no easy way out of this mess. The public’s confidence in central banking is clearly eroding, and hopefully, it will be enough to allow a new kind of financial freedom that hasn’t been seen in the United States’ economic system for over 100 years.

*** end quote ***

It’s not enough to see the future. One MUST be able to change it. That was the Oracle at Delphi’s problem.

I’m not a fatalist; just a cynic.

The politicians and bureaucrats are worried about any future; other than their own.

Maybe I should be so short sighted.

Save your nickels.

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RANT: Time for individual responsibility

https://gearjunkie.com/rescue-fine-steamboat-springs-backcountry-skiers

December 19, 2016, 12:50 pm By: Adam Ruggiero
Rescue Fine: Steamboat Springs Warns Backcountry Skiers

New signs around the Steamboat Ski Area warn adventurous skiers of newly-implemented rescue fine.

*** begin quote ***

Ski patrol is putting up the signs, proclaiming the $500-per-person rescue fine, on out-of-bounds access gates at edges of the Steamboat Springs, Colo., ski area. The resort’s new trail maps also carry the warning.

The purpose is to deter inexperienced skiers from getting in over their heads (sometimes literally). It is also a response to an uptick in trespassers not heeding the current boundary signs.

According to a report in Steamboat Today, ski patrol director John Kohnke estimates 500 people a day slip through the access gates. This is up from about 20 when he began 40 years ago.

Neither Routt County Search and Rescue, which sometimes aids in ski area rescues, nor the Forest Service objected to the fines.

Rescue Fines In Steamboat Springs

By Colorado state law, Search and Rescue cannot charge for operations because it may deter skiers from calling for help when they need it. However, this fine appears to be directed specifically at skiers who leave through the resort gates.

*** end quote ***

Sorry, but if you have to have the “Search and Rescue” to haul your sorry butt out, then you should pay for it. 

At the very least, they could sell “insurance”. Buy it and need us, OK. Don’t and you do, you pay.

If you spread the cost across lots of skiers, it’s probably reasonable.

No one has a “right” to be rescued.

Wonder how many of these were “repeats” or “obvious beyond their skills”.

Argh!

Time for individual responsibility.

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GOLD: What are your “savings” worth?

https://www.lewrockwell.com/2016/04/jack-perry/praise-penny/

In Praise of the Penny
By Jack Perry
April 14, 2016

*** begin quote ***

Consider this: If I back my dollar with gold, there are only so many dollars I can print because gold is a finite thing. No one will be able to accumulate too many of those dollars because, sooner or later, they’re going to have to part with them if they want to eat. But if I can print unlimited cash, unbacked by anything, I’m not even limited by the supply of paper! I can use a computer to say, “There! I just created ten billion dollars to issue to Slob Junction Central First National Bank!” After all, hey, we’re going to electronic transfers and people are saying we don’t even need the fig leaf of paper money to hide the fiction of the currency. Therefore, people can hoard immense sums and when there’s a shortage of available currency because it’s being hoarded, they just print more. Or open up a computer program and create more out of thin air and electrons. Same thing. That’s what creates “income inequality”, not wages.

*** end quote ***

It’s no secret that I’m a gold bug.

When the <synonym for excrement> hits the fan and the Gooferment can pay its bills, guess what will happen?

Of all the “fun things” that might happen, the one that worries me most and that I have personally seen is INFLATION.

When the value of paper money or “electronic dollars” goes into the toilet, I bet a roll of nickels will be worth something. Never mind an ounce of silver or gold.

Remember that’s what many USED to be.

Twenty dollar gold piece had real value.

Argh!

“We, The Sheeple” are so dumb.

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GOLDBUG: A universal gram based gold currency is what the world needs

http://www.321gold.com/editorials/moriarty/moriarty031516.html

Reviewing The New Case for Gold
Bob Moriarty
Mar 15, 2016

*** begin quote ***

… … what we need is for all countries to accept a gram based gold currency unit instead of gold being tied to anything. The financial problems of the world today are caused by fake money and the solution is not another fiat currency that no one understands but real money that you can touch and feel and hold. Gold fills the bill, SDRs do not.

*** end quote ***

Imagine how easy it would be for commerce and travelers.

And, no more controversy about exchange rates, “currency manipulation”, and “racing to devalue”.

The Tower of Babel says that humanity was cursed with different languages. Maybe we were cursed with different currencies and that is really the thing that keeps us separate. And, under the proverbial thumb of the Bankers.

Of course, that will never happen.

“Honest money” is the friend of the poor, senior citizens on fixed incomes, and anyone trying to save! For retirements, a house, a child’s education.

Remember that “Cross of Gold” speech? How much better of would be those Farmers if their “wealth” hadn’t been stolen by the Gooferment with it’s inflation, “price supports”, and regulations?

While there’s no way to know for sure, it couldn’t be as bad as the “hidden tax” of the inflation of the US dollar. It has lost 99% of its value in the last 40 years.

Argh!

And, don’t forget the the current 18T+ national debt and the guesstimated 200T+ in unfunded liabilities that our posterity will have to deal with!!!

Gold is the standard.

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GOLDBUG: The Banksters are going attempt a robbery of “We, The Sheeple”

https://www.lewrockwell.com/2016/02/clive-maund/curb-enthusiasm-just-little/

Gold Market Update
By Clive Maund
CliveMaund.com
February 22, 2016

*** begin quote ***

The big banks have plans to seriously mine their customer’s accounts, and we are not talking about charging half a percent a year here, we are talking about 2 or 3 percent of your account money being siphoned off into their coffers every year for the privilege of you being able to hold an account with them. Of course, any rational person knowing this was coming would withdraw their money and stuff it under a mattress or buy gold, so they are going to be prevented from doing so, by the introduction of the “cashless society”. 

*** end quote ***

This situation is shaping up to be a robbery of “We, The Sheeple”.

Not sure how the average Joe Sixpack can avoid this theft.

Maybe save some nickels?

Argh!

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GOLDBUG: Germany Repatriate 200 Tons

https://www.lewrockwell.com/2016/01/no_author/germans-mistrust-fed/

Uncertain Times Sees Germany Repatriate 200 Tonnes Of Gold Bullion
By Mark O’Byrne
GoldCore
January 29, 2016

*** begin quote ***

The Bundesbank’s repatriation of 200 tonnes of gold bullion reaffirms the fact that central banks today still view gold as a vital safe haven reserve currency and monetary asset. It also indicates a lack of trust between central banks and specifically with the Federal Reserve, whose gold reserves have not been audited in over 50 years and many have doubts about the integrity of those reserves.

*** end quote ***

I got my gold. Do you?

Do you trust the Gooferment, politicians, or bureaucrats?

I don’t!

Why do you?

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GOLDBUG: Gooferment prevents us from making wise economic decisions

http://news.goldseek.com/GoldSeek/1450365360.php

A Free Market in Interest Rates

*** begin quote ***

Under gold, the saver always has a choice. If he likes the rate of interest, he can deposit his gold coin. If not, he can withdraw it. By withdrawing, he forces the bank to sell an asset. That in turn ticks down the price of the bond, which is the same as ticking up the rate of interest. His preference has real teeth, and that’s an essential corrective mechanism.

Unfortunately, the government removed gold from the monetary system. Now you can own it, but your choices have no effect on interest. If you buy gold, then you get out of the banking system. However, the seller takes your place, getting rid of his gold and thereby taking your place in the banking system. The dollars and gold merely swap owners, with no effect on interest rates.

The Fed has kicked savers to the curb, along with gold. Now the dollar is considered to be money. And what is it, exactly? The dollar is the Fed’s IOU. If you have dollars, then you are funding the Fed. You—along with billions of others around the globe—are empowering the Fed. It can lend at any rate it wishes, because it has a seemingly unlimited credit line. The Fed is lending your wealth to profligate borrowers who use it for nonproductive purposes—and that’s putting it mildly.

*** end quote ***

One of the essential truths that I’ve learned from the Austrian School of Economics is the concept of “malinvestment”. As I understand it, because there is no free market interest rate to evaluate the value of future purchases with, people make decisions that they would not have if they knew the actual correct market set rate of interest. This brings on the boom and bust cycle that we are all too familiar with.

Essentially the interest rate is set politically. 

By the way, I am sure by complete accident, the very low interest rate makes it easy for the Gooferment to carry a large debt. Last estimate, I read was the current 18T+ national debt and the guesstimated 200T+ in unfunded liabilities is what our posterity will have to deal with!

Of course, this is unpayable.

So, the Gooferment will “default” on this debt by further inflating the money supply and rob all the holders of dollars of their purchasing power. Look at any of the charts of a dollar’s purchasing power and see it go to near zero. I’ve ranted about this before citing anecdotally my sainted Father-In-Law’s fifty dollar bill that he kept in his wallet (i.e., when he put it in it work house and feed his family for a month and when he died his daughters didn’t realize what had been lost), the three silver dimes for a gallon of gas in 1963 that could buy two gallons today (i.e., loss of purchasing power), and — my personal favorite — the Smithsonian exhibit of the French gold Franc over the time of the French Kings (i.e., from hockey puck to shirt button).

With a gold standard, there is a finite limit to the amount of credit available. And, like any scarce resource in a truly free market system, the invisible hand of that market will establish the time value of money. That will allocate credit to those people who will pay the most for it. Some people will have their projects funded; others not. 

What we fail to understand is that these resource usage decisions are “the Great Calculator” that takes all our wants, needs, and desires as input and “rations stuff” to maximize satisfaction.

Too hard to understand?

Try it this way. If the cost of interest is more than you can afford, then you’ll change your wants.

Argh!

The Gooferment, by the mechanism of the The Federal Reserve Bank, — a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians. — is robbing us of our wealth and the dikw (i.e., data, information, knowledge, wisdom) to make wise economic decisions.

Argh!

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GOLDBUG: Gold prevents theft by the politicians

http://tomwoods.com/podcast/ep-529-leftist-site-attacks-gold-standard-heres-our-smackdown/

Ep. 529 Leftist Site Attacks Gold Standard; Here’s Our Smackdown
9th November 2015
Tom Woods

*** begin quote ***

ThinkProgress, the heresy-hunting thought-control site, lashed out at Ted Cruz last week for advocating some kind of tie between the dollar and gold. Cruz himself is not the issue; the issue is how terrible their article was. Their article is the bologna; the Tom Woods Show is the slicer.

About the Guests

Joseph T. Salerno is academic vice president of the Mises Institute, a professor of economics at Pace University, and the John V. Denson II Professor of Economics at Auburn University.

Jeffrey M. Herbener is chairman of the department of economics at Grove City College and associate editor of the Quarterly Journal of Austrian Economics.

*** and ***

SALERNO: Yeah, that’s true, absolutely. In the 19th century, prices from 1800 or so toabout 1896 fell by about 20%. In other words, $1 bought roughly 20% more in 1896 than it did in 1800, whereas if you compare the timespan that the Fed was in existence from 1914 until today, our dollar’s worth about 4 cents. So in other words, the value of the dollar has declined by over 95%, and it has nothing to do with — that is, the 19th century performance — had nothing to do with the fact that the dollar was tied to a”shiny metal” and that the value was real; it’s simply that the gold standard restrained the number of dollars that politicians could print.

*** end quote ***

I think the essential point, of a “gold standard” or any “sound money”, is the restraint it put on the banksters to dilute the value of money. At least the Kings and Princes of old had to “clip” the gold and silver out of the coins. 

I came to this epiphany when I saw a Smithsonian exhibit of the French franc over time. IT started as a “hockey puck” of gold and wound up as a “very very thin shirt button” of gold. Argh! That’s when the light bulb went off. All I could think at the time was William Jennings Bryan saying “I will not help to crucify mankind upon a cross of gold.” We should have stuck with gold!

I can’t imagine what America would be like if we didn’t have the FED (The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians.) which allowed the welfare / warfare state to silently rob the people of their wealth. Argh!

Now try to lock the proverbial barn door.

The FED’s “zero interest rate” policy for the last eight years (?) is a double disaster — (1) without interest rates to filter “bad” capital projects, all sorts of mistakes are being made; AND (2) the poor old senior citizen on a fixed income have had their wealth destroyed.

Argh!

Hope there is a special circle of Hell for these people.

Good job by Woods, Salerno, and Herbener to knock this out of the “park”.

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GOLDBUG: China acts like gold is NOT a “barbarous relic”

https://www.newsmax.com/Finance/StreetTalk/china-gold-tons-metal/2015/11/07/id/701062/

China Probably Raised Gold Hoard Again by Adding 14 Tons
Saturday, 07 Nov 2015 12:52 PM

 *** begin quote ***

China probably boosted central-bank gold holdings yet again in October, raising them by about 14 metric tons, as it seeks to diversify its foreign exchange reserves.

The value of gold assets was $63.26 billion at the end of last month from $61.19 billion at end-September, according to data on the People’s Bank of China website released Saturday. That works out to 55.38 million troy ounces or about 1,722.5 tons, based on the London Bullion Market Association afternoon price auction on Oct. 30, Bloomberg calculations show. The stash was 54.93 million ounces a month earlier.

China ended six years of mystery in July over how much gold it’s hoarding as it seeks to spur greater global use of its currency and pushes for the yuan to be included in the International Monetary Fund’s Special Drawing Rights basket.

Efforts to promote the yuan have boosted speculation the government is stockpiling gold as part of a plan to diversify its $3.53 trillion in foreign-exchange reserves.

*** end quote ***

Unless you think that the Chinese are “dumb” — according to the Keynesian economists — gold is more valuable than fiat currencies.

Silver and gold were money long ago — prior to the 1932 in the USA — thanks FDR — and probably will be again. 

When the <synonym for excrement> hits the proverbial fan, how will you protect your wealth. 

Real estate can be taxed to death. Savings are ravaged by inflation and zero interest rates. Technology is eliminating unskilled labor at $15 per hour. And outsourcing is killing white collar and high paying blue collar work. Also, just in case there’s anything left, HB1 visas are allowing foreigners to replace American workers.

Trump is tapping into the anger and frustration of “We, The Sheeple”.

And, the Chinese are “diversifying” out of US Treasury debt and into gold.

What should you do? I know what I’m doing.

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GOLDBUG: Gold preserves value

https://www.lewrockwell.com/2015/09/alasdair-macleod/is-gold-still-money/

Gold Remains Money
By Alasdair Macleod GoldMoney
September 19, 2015

*** begin quote ***

Government currencies come and go while human values endure. The adaptability of the human race will allow it to continue to use whatever is most convenient for day-to-day transactions. But the days of ordinary people in the welfare states blindly accepting fiat currencies as valid for storing the product of their labour, however temporary, are probably drawing to a close. The impossibility of our debt obligations, including the net present value of future welfare commitments, is catching up with us, and the requirement to debase these obligations is becoming paramount.

*** end quote ***

There is NO way to preserve value but in gold.

Argh!

The FED is the essence of the King debasing the currency and stealing for the people.

The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians.

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GOLD: Could “confiscation” happen again?

https://www.lewrockwell.com/2015/09/no_author/will-the-feds-confiscate-gold-again/

Will Uncle Sam Confiscate Gold Again?
By Mark O’Byrne
GoldCore
September 5, 2015

*** begin quote ***

Investors suffered financial losses in recent weeks as stocks globally came under pressure in August and had their worst month in the last three years.

In one of the most volatile trading periods since the global financial crisis, August saw a massive $5.7 trillion erased from the value of stocks worldwide. No major stock market was left unscathed and the risk of financial and economic contagion became evident again.

There are growing concerns internationally that in the event of another Wall Street or global stock market crash and a new systemic crisis – a Eurozone debt crisis or another Lehman Brothers collapse – there could be enforced bank closures or extended bank holidays in the EU and U.S. as seen in Greece recently.

*** end quote ***

It’s not hard to imagine that in another “meltdown”, “market panic”, or “credit squeeze”, that the political class would use that opportunity to radically takeover the economy.

It would not be hard for “the authorities” to implement their plan for taking the trillions in IRAs / 401Ks / 403Bs / 457s by strong-arming the 2200 or so “custodians” into turning them over. Perhaps, for that, sometimes mentioned “enhanced social security benefit”?

While they are seizing the gold and precious metals — if they can find them — they will probably take the guns too.

Be interesting to see how that works out for them. 

“And how we burned in the camps later, thinking: What would things have been like if every Security operative, when he went out at night to make an arrest, had been uncertain whether he would return alive and had to say good-bye to his family? Or if, during periods of mass arrests, as for example in Leningrad, when they arrested a quarter of the entire city, people had not simply sat there in their lairs, paling with terror at every bang of the downstairs door and at every step on the staircase, but had understood they had nothing left to lose and had boldly set up in the downstairs hall an ambush of half a dozen people with axes, hammers, pokers, or whatever else was at hand? . . .” — Alexander Solzhenitsyn

I don’t think any type of door to door seizure will work out to well for the “boots on the ground”.

But then again, “We, The Sheeple” have gone along before.

Argh!

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GOLDBUG: What do you have that can’t be “inflated” away?

https://www.lewrockwell.com/2015/08/pater-tenebrarum/the-asset-the-state-loves-to-hate/

Gold and the Grave Dancers
By Pater Tenebrarum
Acting Man
August 3, 2015

*** begin quote ***

Greenspan:

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”

*** end quote ***

Gold is the poor man’s friend. The “Sovereign” (i.e., the Federal Reserve System counterfeiters, Congress debt and deficits,the politicians, bureaucrats) can’t fool you out of it. 

FDR “recalled” it. And the American Sheeple of the day obeyed. Argh!

Gold may fluctuate up and down when priced in fiat (i.e., it’s valuable because the Gooferment says it is) currency. 

But “we” all know that because it’s scarce, it’s valuable. 

And, like a work of art, beachfront property, land, and such tangibles, the Gooferment can’t print any more of it.

That’s why I’m a Gold bug. 

What do you have that can’t be “inflated” away?

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GOLDBUG: Gold is on sale!

http://www.foxbusiness.com/markets/2015/07/24/gold-hits-5-12-year-low-set-for-worst-week-since-october/?intcmp=fnhpfbc

COMMODITIES
Gold Hits 5-1/2 Year Low, Set for Worst Week Since October
Published July 24, 2015
Reuters

*** begin quote ***

Gold has been hurt this year by expectations that the Federal Reserve is on track to raise interest rates for the first time in nearly a decade, boosting the opportunity cost of holding non-yielding bullion while lifting the dollar.

“In the short term, investor sentiment is what actually moves prices,” Capital Economics analyst Simona Gambarini said. “It’s now likely that the Fed will hike rates this year, most likely in September … (and) investors are already showing that in their positioning. They’re becoming more bearish on gold.”

*** end quote ***

Gold is on sale!

Do you think the FED is ever going to be able to raise rates until after then next Presidential election? If then! If a D wins, it’s more of the same deficit, debt, and welfare spending. If an R wins, then the economy might have a chance to to stage a real recovery. Only if one of the “crazies” — Rand Paul, Carly Florin, Scott Walker, or maybe Ted Cruz — wins.

One thing is for sure, the Gooferment can’t print any more gold.

And, unless you think the Chinese and Russians are crazy, explain their accumulation.

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GOLD: Gold and Armageddon

http://www.bloombergview.com/articles/2015-07-01/gold-shrugs-off-armageddon

Gold Shrugs Off Armageddon
13 JUL 1, 2015 9:00 AM EDT
By Barry Ritholtz

*** begin quote ***

This was the week Greece inched closest to chaos, as a bank holiday and a technical default caused markets around the world to erupt in turmoil. They recovered somewhat Tuesday, and futures looked stronger Wednesday morning, but on Monday, the NASDAQ Composite Index lost 2.4 percent, the Standard & Poor’s 500 Index lost 2.09 percent and the Dow Jones Industrial Average fell 1.95 percent. Volatility exploded, as the Chicago Board Options Exchange Volatility Index surged 35 percent, its biggest increase in two years, to 18.85.

*** and ***

Regardless, gold seems to going nowhere fast. Feel free to send me an e-mail explaining how wrong and stupid I am. I have an archive of all the messages warning me that gold would teach me a lesson in humility. “You’ll see” these e-mails smugly assure me, “your comeuppance will be here any day now.” My plan was to respond to each on its fifth-year anniversary with a chart showing the performance of gold versus all other asset classes and the details of how much money has been lost.

*** end quote ***

I’d never call anyone names.

And, I’m a gold bug. But most of my money is in the “casino”.

One has to think, that the Greeks stuffing euros under their mattress to avoid confiscation and the Swiss fund managers wanting to take physical possession of their Swiss francs to avoid negative interest rates, there is some merit in keeping small amounts of bullion coins at home as a hedge.

The “prepper” movement always says: “Store water, beans, bandaids, bullets, and bullion. Two is one; one is none.”

When you see the political corruption of Crony Capitalism, the large proportion of folks permanently on the dole, and the expansion of the welfare / warfare state, you must see that the balloon has to pop eventually.

Eventually, like the Little Red Hen in the children’s story, the makers will stop making and what do the takers take then?

I don’t know when the music will stop, but one best have a chair then.

And, I am POSITIVE that there is manipulation in the markets.

That being said, I’m content to average in to gold if they are selling it at a discount. As long as I take delivery. 

Ya ain’t gonna Corzine me. 

Argh!

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GOLD: Gold enabling secession?

https://www.lewrockwell.com/2015/06/tyler-durden/one-step-closer-to-secession-2/

Writing’s On The Wall: Texas Pulls $1 Billion In Gold From NY Fed, Makes It “Non-Confiscatable”
By Tyler Durden
Zero Hedge
June 15, 2015

*** begin quote ***

The lack of faith in central bank trustworthiness is spreading. First Germany, then Holland, and Austria, and now – as we noted was possible previously – Texas has enacted a Bill to repatriate $1 billion of gold from The NY Fed’s vaults to a newly established state gold bullion depository…”People have this image of Texas as big and powerful … so for a lot of people, this is exactly where they would want to go with their gold,” and the Bill includes a section to prevent forced seizure from the Federal Government.

 *** end quote ***

This is interesting to me.

I obviously follow the “secession movement”. There are active groups in many states and parts of states. 

I still think North Dakota is the most prepared because of the State Bank of North Dakota. They can “clear” checks and have the infrastructure in place to be a “central bank” for the State.

This “repatriation” of gold moves Teas into second place.

Many State could go on their own when the American Empire fractures. Just like everyone before them. The USSR being the latest.

Like the Soviet Union, the American Empire is going to go broke from corporate / personal welfare and too many foreign wars. It’s inevitable on their current track.

So what does an individual do?

After all opinions are like anal sphincters, everyone has one. It has be “actionable”.

  • Prepare for a “crash” by being a prepper (i.e., bullets, beans, band aids, bullion).
  • Get in shape. Use the poor man’s gym by just walking. (It’s sad that so many arm chair preppers are coach potatoes.)
  • Practice skills that you’ll need in the future (i.e., make fire; improvise solutions; eat basics).
  • Grow a garden. Real preppers create wild no-till forest gardens.
     

What are you doing? 

It’s going to be a rough time and many of “We, The Sheeple” aka “Clovers” aka “Mundanes” are not going to make it.

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GOLDBUG: The allure of gold in a fiat currency world

http://www.zerohedge.com/news/2015-05-09/russell-napier-explains-whats-store-gold-if-cash-outlawed

Russell Napier Explains What’s In Store For Gold If Cash Is Outlawed
Submitted by Tyler Durden on 05/09/2015 19:45 -0400

*** begin quote ***

However, in such a world, zero-yielding gold would be a high-yielding instrument. If the authorities ever sought to restrict access to banknotes, then gold would suddenly find itself enfranchised as money for the first time in many decades. So, given the scale of these competing forces, it is just too early to say what might happen to the gold price, but the allure of gold will grow the more it becomes clear that central bank fiat has failed and the age of government fiat is dawning.

The time is ever nearer when the price of gold will rise in an era of deflation. In due course, though no time soon, the full force of government fiat will engineer a reflation, albeit one replete with the misallocations of savings and capital so beloved by the bureaucrat. Then the PhD standard, in which the value of money is linked only to the words of the over-educated, will have ended. The gold price will rise even further, ‘And the words that are used for to get the ship confused will not be understood as they’re spoken, for the chains of the sea will have busted in the night’. And that’s ‘The hour when the ship comes in.’

*** end quote ***

Interesting change of the interest rate perception.

“Gold doesn’t earn interest.”

That was the common complaint. It just sits there. And, there is a negative opportunity cost.

Now for gold bugs like me, it’s insurance. 

The Gooferment can’t tax it when I die because it doesn’t exist.

The FED, the banking cartel’s, “man in the Gooferment”, can’t inflate it.

And, no one can track it.

With the FED’s zero interest rate policy — screw you senior citizens living on a pension and some savings —, there doesn’t seem to be quite the argument about not paying interest. Compare zero to, as Ric Edelman puts it, zero point nothing, doesn’t seem so bad now does it?

Also, when you think about Cyprus and their “bail in” solution that turns depositors into creditors of the bank, or worse shareholders with non-tradeable shares — think non-traded REITs, another of Ric Edelman’s “favorites” — gold doesn’t compare badly.

I go back to my two favorite … … examples.

  • In Roman times, two ounces of gold got a custom man’s outfit with cloak and sandals; today, those same two ounces translates to about 3,400 FRB “dollars”. Pretty equivalent.
     
  • And, in my yute, gas at the old Hess station was 30¢ a gallon with trading stamps, a glass, and the attendant pumped it — also cleaned the windshield; today those same three SILVER dimes could be sold for about 6 FRB “dollars”, which would buy more than TWO gallons of “better gas”, but no glass, stamps, or attendant (except in the Pepuls Republik of Nu Jerzee). Pretty equivalent. 

SO WHAT’S DIFFERENT?

The value of the currency!

Argh!

I’ll keep my nonexistent gold, silver, and nickels. Thank you very much.

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GOLD: Russia or China could put a stake in the heart of the USA easily

http://www.lewrockwell.com/2015/02/marcia-christoff-kurapovna/is-russia-planning-a-gold-based-currencye280a8/

Is Russia Planning a Gold-Based Currency?
By Marcia Christoff-Kurapovna
Mises.org
February 7, 2015

*** begin quote ***

Nor is that prospect too far-fetched. As Dutch author Willem Middelkoop has written in his 2014 book The Big Reset: War on Gold and the Financial Endgame,

A system reset is imminent. Even before 2020 the world’s financial system will need to find a different anchor. … In a desperate attempt to maintain this dollar system, the United States waged a secret war on gold since the 1960s. China and Russia have pierced through the American smokescreen around gold and the dollar and are no longer willing to continue lending to the United States. Both countries have been accumulating enormous amounts of gold, positioning themselves for the next phase of the global financial system.

*** end quote ***

One has to be very circumspect about gold and the manipulation there of.

The central banks, most notably the FED, have an incentive to keep the paper merry go round moving.

That being said, for the little people, they have to defend their own wealth.

Folks long the Swiss Franc were rewarded when that peg was removed.

Folks long the US Dollar have a long way to fall if the Russians and Chinese move to a gold standard.

While one can’t tell when the “music for the chairs” stops, it’s going to be rough in the US for the poor and middle class. Inflation will roar back and make the Carter 21% look like child’s play.

The only saving grace is that China is our “partner” in this bubble.

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GOLD: Switzerland portends Chinese action?

http://schiffgold.com/commentaries/will-china-pull-switzerland-us-dollar-video/

Will China Pull a “Switzerland” on the US Dollar? (Video)
JANUARY 17, 2015  BY MIKE FINGER   

*** begin quote ***

In his first Schiff Report video of the year, Peter Schiff explains the Swiss news that rattled the foreign exchange markets this week. Peter had predicted that Switzerland would eventually be forced to drop its euro peg, just as he’s been warning that countries like China will be forced to abandon their ties to a weakening US dollar. If investors don’t want to experience even worse losses than Europeans were hit with this week, they need to start preparing for a dollar crisis. Gold has performed very well this year, even while the US dollar and stock market moved higher, which Peter sees as an indicator that a new bull trend has started in precious metals.

*** end quote ***

Poor people in China subsidizes the American dollar.

Argh!

Clearly, this is going to mean more inflation.

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GOLDBUG: Have skills and things of value

http://www.lewrockwell.com/2014/11/alasdair-macleod/chinas-gold-strategy/

China’s Gold Strategy
By Alasdair Macleod
GoldMoney.com
November 1, 2014

*** begin quote ***

Since 2002, the Chinese state has almost certainly acquired by these means a further 5,000 tonnes or more. Allowing the public to buy gold, as well as satisfying the public’s desire for owning it, also reduces the need for currency intervention to stop the renminbi rising. Therefore the Chinese state has probably accumulated between 20,000 and 30,000 tonnes since 1983, and has no need to acquire any more through market purchases given her own refineries are supplying over 500 tonnes per annum.

*** end quote ***

The “barbarous relic”?

Now if the Chinese are good “Communists”, then why stockpile gold?

Maybe because they take a 1,000 year view!

The Swiss will vote on Gold and their national bank. While the jury is still out until the end of the month, either way, you have to wonder why folks don’t trust paper money.

I sure don’t. I remember the grandparents talking about the Great Depression.

Be nice to have skills and things of value WHEN the SHTF!

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GOLD: Everyone’s dumber than dirt

http://www.lewrockwell.com/2014/06/gary-north/germany-asked-for-its-fed-stored-gold/

LewRockwell.com ANTI-STATE•ANTI-WAR•PRO-MARKET
In 2013, Germany Asked for Its Stored Gold. HaHaHaHaHa.
By Gary North
The Tea Party Economist
June 27, 2014

*** begin quote ***

In January 2013, the German central bank asked for half of its gold back. It was being stored by the Federal Reserve Bank of New York on behalf of the German government.

The Federal Reserve said: “Sure. In seven years, maybe.”

This week, the German government said: “We were only kidding. We don’t want our gold. We trust the American government.”

*** and ***

There has never been a full audit of the gold held by the Federal Reserve or at Fort Knox. “Trust us.”

If the voters in Germany go along with this, they will announce for all the world to hear: “We are dumber than dirt.”

*** end quote ***

What happened to “trust, but verify”?

Argh!

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