We have always wondered why precious metals (PMs) mining companies don’t band together to oppose the manipulation of the price discovery mechanism at the COMEX.
We didn’t get an answer here, but it’s the first to delve into this issue. The answer to us appeared to be coming from an apologist. We think after you read the editorial you will come to the same conclusion.
Rather we think that mining executives are being compensated personally in ways not easily understood so they avoid challenging a dishonest price discovery mechanism at the COMEX. They are in on the “take” and small investors to other PM message boards appear to be coming to the same conclusion. Remember that one mining company CEO, William Boyce Thompson, who founded Newmont Mining Company, served on the Federal Reserve Bank of New York from 1914 to 1919. Those years also saw the Bolshevik Revolution take place, supported by Thompson, which was the beginnings of the Soviet Union.
Note that the person being interviewed supports a better price discovery mechanism without totally abandoning the fractional system representing more than a year’s mined supply in one day that is dominating the current system (otherwise known as manipulation). We find such a position to be suspect coming from a mining company CEO. We will await our resident message board Communist, "dhb39399" to dispute as "conspiracy theory" what's readily available information from credible sources.
Let’s be up front about this. What all of us that you consider BSers know, is that you are a Communist. That was brought out by Moses on WS since of the 10 tenets of Karl Marx was the establishment of central banks as control mechanisms for all peoples. Other of those tenets also applies to you.
Too bad Joe McCarthy isn’t here to go after you. Or maybe your persona has been noticed by the John Birch Society, not that they would consider you a worthy target of their displeasure. You’re just a small puppet having his/her strings pulled by a higher level of Commie indoctrination.
We also follow your logic and conclude that you are a criminal. That is the conclusion of a free people that recognizes those who would take away their freedom by others distancing themselves from the rule of law. We didn’t immediately decide this. Over time it has become apparent.
2. BS, due to 1.
3. BS, due to continuation from 1.
4. Paul gave up because nearly everybody found him to be an idiot.
It doesn’t take much thought to come up with reasons.
1. All currencies in circulation today are counterfeited by governments
2. Since item 1 is true, we know the markets are totally manipulated. In some countries, like Japan, they are quite open about manipulating markets to, they think, prop it up to get favorable results. The same goes for China.
3. Knowing that, what would you expect? And do you think US markets are any different? The criminals are in control and it is total, worldwide. You can fill in the blanks.
4. Let’s take the political theater now ongoing. Do you think Donald Trump is being honest with you? Do you think he will even mention the ill-effects of this country’s government sanctioned counterfeit money? Please DO provide a comment by him if you disagree that he has opposed this. Note that Rand Paul finally gave up attempting to move in the direction of honest money, as did his father.
5. And, YES. Joe SixPack is brain dead. Our public schools and universities saw to that.
Now further discussion.
One of the Fed's primary goals was to create a wealth effect, by propping up the stock market. It accomplished that in part by maintaining the ZIRP, thus keeping the dollar weak and creating the perfect environment for markets. It propped up earnings in many companies AND coerced many people out of Bonds, CDs and into the market to achieve a return on capital.
That game is coming to an end.
ZIRP policies create bubbles,and a major bubble is about to burst.
IF you have $100 and you cannot put it in a bank, because you will either get ZERO return or worse, have to PAY to keep it in the bank, people will redeem paper currency for REAL currency. Putting it in the stock market will soon have the effect of reducing your principle.So, it's back into safety of gold and silver.
Everything that everybody figured on 5 years ago,is about to happen.....and it's all about timing.
AG is slowly on it's way to $50 + +
And AU is slowly on it's way to $2000 + +
Maybe one more side step and then BAM.
Many bugs think THAT is when the price of AG and AU will go parabolic.
Currently,there is NO hoarding. If you try to acquire rounds, silver dollars, bars, gold coins, etc there's all you want out there. Why?
Because middle America doesn't have a pot to pizz in.
The average citizen or non-citizen in the US cannot produce $1000 cash let alone a stash of silver or gold.
BUT, when a mistake is made, (and we are on the cusp of a major mistake), instead of hoarding, you will see "trading in" or "redeeming" silver for fiat. THAT's when the game begins. The mistake will be to continue QE and maintain ZIRP or negative I rates.
Businesses, local service businesses,such as a local repair facility, restaurants, grocers.....they will seek REAL money.
I give it 2-3 years.....give or take.....but it's about to happen.
“...I do not believe gold will appear for sale until some new currency is brought forth that can be trusted. ...”
This is a statement made by Bill Holter in an editorial titled: “We Are Watching The Financial Collapse!”
What is peculiar about all similar statements by most of these “editorialists” is that they try to make the case that ANY currency can be trusted without ever stating what its function is. In order to understand that we must go back in history to see how currencies came about in the first place; and how all of them ultimately COULD NOT be trusted.
Currency, if defined properly, is a receipt for real money, gold, silver or some similar certified asset. As such this receipt can be taken to any bank and in return be exchanged for certified coinage. Failure to produce what is on hold for the receipt needs to be a felony, and punishable by the sort of penalty spelled out in the Coinage Act of 1792. This is an extension of what the US Constitution stipulates since it refers primarily to government officials, but should refer to ANY transaction with a bank if they fail to honor the “storage receipt” (currency). A reasonable time limit could be imposed for storage that is not local.
So, who is buying all the Silver Eagles? Smart folks would just buy bullion, rounds and bars, and pocket the difference or end up with more net silver.
However, do not underestimate the ability of the criminals in charge of the world’s central banks to act in concert to keep their counterfeit fiat Monopoly money alive. This has happened so many times in the past that it is like déjà vu. We have, for example, seen silver advance by over $1/oz; but usually that is when the advance is well along.
It seems, then, that we are looking at a race to the bottom, or zero value in this instance, and the last fiat currency there is the winner... but only fleetingly.