TF metals report....
As we approach the 100th "birthday" of The Fed, please join us for this timely opportunity to visit with G. Edward Griffin, author of the great book, "The Creature From Jekyll Island".
Webinar....Thu, Dec 19, 2013 12:00 PM - 1:00 PM EST
QUESTION: Are not the bankers now preaching gold down?
ANSWER: Yes. This is what is necessary. At the lows, the MAJORITY will give up and then point to much lower lows. I wrote previously:
“At the low, everyone is bearish and shorts abound. That in turn is the fuel for the reversal to the upside. The classic short-cover out of the hole, So we need the majority of analysts to now turn bearish at last. They will begin to call for $600 gold soon. We need this type of bearishness to build in order for the low to take place.”
The more bearish the people get, the closer you get to the turn. But that turn will not come until 2014 at best.
Silver Doctors....Global warming...sure
According to an absolutely shocking study that has just been released, one area of the Pacific Ocean floor was 98 percent covered by decomposing sea creatures in July 2012. But in March 2012, only 1 percent of that same section of the Pacific Ocean floor was covered by dead sea creatures.
The scientists that are studying this section of the ocean floor have never seen anything quite like this before. And when you consider this in conjunction with all of the other reports that have been coming in of sea creatures dying all over the Pacific Ocean, it is only natural to start asking some hard questions.
Could radiation from Fukushima be responsible for all of this death?
On Sept. 19, the U.S. Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency ordered JPMorgan to refund $309 million to about 2 million customers they said were harmed by its debt collection and other credit card procedures.
At the time, JPMorgan said collection issues affected fewer than 1 percent of its customers, and that it stopped filing collection lawsuits in 2011 and stopped enrolling customers in credit monitoring services in 2012.
In May, California Attorney General Kamala Harris also filed a lawsuit accusing JPMorgan of "robo-signing" in credit cards and flooding state courts with questionable lawsuits.
The case is Mississippi ex rel. Hood v. JPMorgan Chase & Co et al, Chancery Court of the First Judicial District of Hinds County, Mississippi, No. G2013-1939.
Dec 17 (Reuters) - JPMorgan Chase & Co was sued on Tuesday by Mississippi Attorney General Jim Hood, who accused the largest U.S. bank of violating state consumer protection laws in its alleged pursuit of delinquent payments by credit card customers.
The lawsuit followed an 18-month probe, according to Hood, and adds to a long list of legal problems facing JPMorgan.
Last month, the New York-based bank reached a record $13 billion settlement over its sale of shoddy mortgage securities. It also faces probes over such matters as its hiring practices in China and its dealings with former client Bernard Madoff.
According to a complaint filed in a state court in Hinds County, Mississippi, JPMorgan has, since at least 2007, relied on "robo-signing" and other discredited practices to pursue consumers for sums they did not owe, already paid, or had excused in bankruptcy.
The lawsuit said employees described a "chaotic" and "disorganized" workplace marred by "rampant" mistakes, inadequate training, constantly changing policies, high turnover and unrealistic quotas.
Hood also accused JPMorgan of relying on "outhouse" law firms that would churn out lawsuits without first reviewing the underlying claims, and working with now-defunct arbitration firm Mann Bracken -- dubbed "Mann Broken" by bank employees -- that could not keep track of customer payments.
"Consumers' paychecks were garnished and their credit damaged, making it harder for them to refinance their homes, take out a car or student loans, or even get jobs," Hood said in a statement. "We have tried for months to resolve our concerns cooperatively, but have been forced into litigation."
The lawsuit seeks civil penalties of up to $10,000 per violation, which Hood said could result in a "significant" sum, and a ban on similar future misconduct.
JPMorgan spokesman Paul Hartwick declined to comment.
Armstrong hedging his bets? All bases covered? Why stray off course. He must think the fractional reserve ponzi, is legitimate extortion. Do not covet thy (banker) neighbors stolen goods.
99.999999999% of poeple won't watch it, could care less but will #$%$ and whine about current trends/events and the bankers will continue unabated, finding ways to violate the spirit of regulations, finding loopholes, offshoring or outright breaking the law and paying a fine.
A top is a top...the fractional reserve, hide the weenie, shell game, is coming to an end.
It could be this and it could be that....
Posted on December 17, 2013 by Martin Armstrong
Gold had a chance to at least rally and clean out some shorts, but could not close above 1243. The Dow is in the same position. We may be setting up for a MAJOR protraction of these trends for the next peak in the Economic Confidence Model 8.6 Year Wave in 2024. This implies there is the danger of a Cycle Inversion. So far, it appears we have this Jan-Feb turning point showing up in many markets globally. What makes a low at that time could rally into the next ECM turning point in 2014 warning we may then turn down into 2015.75 and flip into a rally going into 2020. We simply have to monitor the Reversals and the Cycles.
Even if EVERYTHING is true, it doesn't matter in real life, does it? That would be a typical banker statement at the pinnacle of their career. Your saying there is no top and banking as we know it, will go on forever?
That's like saying there was no housing bubble. Why have bank branches, when it can be done online? The bankers have to convince the world a digital currency will work. When enough people wake up and watch things like...
The Biggest Scam In The History Of Mankind- Hidden Secrets Of Money?
The bankers get run out into the light of day. No one knows the exact date. Too many get out of jail free cards were issued. It is only a matter of time and which ones choose to fall on their own sword for the country's good..
In Iceland, they actually imprisoned the top four bankers that some call the “financial terrorists” that ruined the country.
This is establishing a trend that we will indeed see materialize even in the USA after the 2016 Presidential Elections. Riots against bankers have been frequent throughout history. I have stated before that the term Black Friday comes from the Panic of 1869 in the USA where they were dragging the bankers out to the streets and hanging them.
The Gold paper ponzi ratio was 57:1 last check. Nice prop job on the Dow... did you read his article - When they Hang Bankers after the 2016 election? Iceland is the perfect model.
Jim Sinclair’s Commentary
And China sends USA a thank you note and a kiss for all of the cheap physical gold compliments of GLD redemptions.
Gold ETFs face unprecedented 31% slump
A further 311 tons will be withdrawn next year from gold-backed ETFs, according to the median of 11 analyst estimates, Bloomberg reports.
Author: Glenys Sim, Maria Kolesnikova and Debarati Roy (Bloomberg)
Posted: Monday , 16 Dec 2013
(Bloomberg) – Investors are dumping gold-backed exchange-traded products at the fastest pace since the securities were created a decade ago, mirroring the steepest price drop in 32 years.
Holdings in the 14 biggest ETPs plunged 31 percent to 1,813.7 metric tons since the start of January, the first annual decrease since the funds started trading in 2003, data compiled by Bloomberg show. The removals erased $69.5 billion in the value of the assets as prices fell by the most since 1981. A further 311 tons will be withdrawn next year, according to the median of 11 analyst estimates compiled by Bloomberg.
ETP investments reached a record $148 billion last year, helping sustain the bull market that drove a more than sixfold increase in prices since 2001 by offering a way to own bullion without needing to store it. The slump shows some investors losing faith in gold as a preserver of wealth after inflation failed to accelerate and the Federal Reserve signaled it may curb stimulus. John Paulson, the biggest investor in the largest ETP, said last month he doesn’t plan to buy more.
“All the bullish factors we had pushing gold higher in the last 12 years are now going into reverse,” said Robin Bhar, a London-based analyst at Societe Generale SA who’s ranked by Bloomberg as the most-accurate precious-metals forecaster over the past eight quarters. “There will be more ETF selling in 2014 as the price goes lower.”
I do NOT believe Jim Sinclair is one of the Shills who is paid under the table by the bankers. We may disagree on timing and reasoning, but that is the extent of any disagreement. I believe in what goes up also goes down and I look at the entire world not just one sector or market and certainly not just the domestic economy,
The decline in gold is NATURAL and NECESSARY to set the stage for a future rally. There is a TIME and PLACE as well as PRICE for everything. As to why the pretend analysts with their shows do not quote me, the answer is very simple. They want people to ignore me and they only try to sell gold – not buy.
I have always worked behind the curtain where I have seen it all. I have had PhiBro walk across the pit and show my brokers their book to try to get me to join. I watched the manipulators get the press touting the Hunts to get everyone in so then could crush the market and had the exchange rig the margins so it was minimal to go short and required more margin to go long. I had AIG get in to see me to try to get me to join the club on the coat-tails of one of their board members Alan Walters who was a personal friend and former adviser to Lady Thatcher. I have seen it all and that is why they do not dare want me telling anyone what really is going
Martin has not seen - The Biggest Scam In The History Of Mankind - Hidden Secrets Of Money?
My Dear Extended Family,
Our stock price has dropped in the last few months. The stock's drop has nothing to do with the company's corporate developments. As I am sure you know, the vast majority of junior mining companies have dropped even more steeply due to the drop in the gold price. In addition to being in the junior gold category, we were in an index fund that suddenly raised its market cap requirements from $100 million to $700 million. As a result, funds such as Van Eck became a seller. Finally the short sellers climbed on board and caused great damage to our stock price.
Please be assured that I and the company are working hard to get us to production as soon as possible. On Kigosi we await a process called de-gazette. This will require the President of Tanzania signing one final document allowing TRX full access to the nearly 10 kilometers of property that the company fully expects to commence mining on. I just returned from Tanzania with full confidence of the culmination of the new description of our mining license as no longer contained within a reserve and therefore de-gazzetted.
At Tempo/Bingwa which are Buckreef properties we await final results to the chemical process metallurgical test that we need before finalizing plant configuration. That is due very shortly. To properly anticipate when to expect production we need to take into consideration that present negotiations with the plant builders shows a lead time of about 28 weeks from order to commissioning on the property for production.
Our cash position is firm and our spending rate is well under control.
We have already paid for 80% of the first plant required to be a producer and this plant now sits at Buckreef awaiting commissioning.
I hope this has been of some help.
The predicted cartel goonings are going off right on schedule. Schedule is the only way to describe flash crashes occurring at 3:00 AM, 4:00 AM, 7:30 AM, and 10:00 AM. The improbability of such a trading method doesn't even dignify further thought. Each flash crash minute as always totally dwarfed the rest of the access/Comex trading minutes. In particular a whopping 12,986 Feb. contracts were sold between 10:01 and 10:06 AM. , an average of 43 per second. Just 8 flash crash minutes accounted for $16 of today's plunge. As usual Sunday evening's weak access trade open was the tipoff for the cronies. That is yet another reliable indicator, much like a suddenly weak HUI or silver. Since my cartel storm warning back on Nov. 13th. gold has now dropped $63, or 5%. In that time the flash crash has been the featured method.
It sure looks like the script now calls for one final washout to that dubious (as in all gold pundits are calling for it) $1180 area. Friday's NFP report would look to be picture perfect timing. The cartel is nothing if not neat and tidy. Throw in some Fed taper gibberish and it'll be fait accompli. Technicals are currently showing gold severely washed out but of course nothing really matters when the schedule demands all-out war on gold.
Anybody thinking an imaginary, ephemeral cyber product (bitcoin) is a better alternative to a 2,000 year-tested real money (gold) will one day get a rude awakening. Confiscation of cyber currency will be as easy as hitting the "delete" button at an appropriate time. Maybe bitcoin owners will also have the pleasure of getting to "bail in" some debt-addled, wobbly government. Deleting or "bailing in" gold will prove far more difficult, which is the whole point. This extraordinary effort to discredit gold can only be part of some far larger agenda. Maintaining an illusion of using CTRL-P with no ill consequences must certainly be playing a BIG part.
How long has it been...2 years?
DO YOUR OWN DUE DILIGENCE. HONEST MONEY DOES NOT IMPLY HONEST PEOPLE.
FOR CHRIST SAKES
So you say he is the same Mickelberg that was wrongly convicted?
You left that part out of your statement. You forgot to mention the lying detective.
Mickelbergs to receive $1 million ex gratia payment
The Attorney General Jim McGinty has revealed the State Government will give the Mickelberg brothers an ex gratia payment of $1 million for their wrongful conviction of the 1982 Perth Mint gold swindle.
The payment will take the amount of compensation paid to Ray and Peter Mickelberg for legal fees and their wrongful conviction to more than $1.6 million.
Ray Mickelberg served more than eight years in prison and his brother Peter Mickelberg served more than six-and-a-half years after being convicted of defrauding the Perth Mint of more than $650, 000 of gold bullion.
The convictions were quashed in 2004 and the Western Australian Government handed the brothers an ex gratia payment of close to $658,000 for legal expenses.
Mr McGinty says Ray and Peter Mickelberg had originally asked for $900,000 and $750,000 respectively.
"Cabinet recently approved $500,000 ex gratia payment to each Peter and Raymond Mickelberg. That has been made in consideration of the of the magnitude of the admitted perjury and the perversion of the course of justice by former detective Tony Lewandowski," he said.
"The Mickelberg brothers are entitled to the presumption of innocence. They were acquitted of the charge on appeal in 2004 and in the light of this massive wrong doing by the police it was appropriate that an ex gratia payment be paid to the Mickelberg brothers.
"This brings to an end the litigation between the Mickelberg and the State Government."
Take it or leave it
The Mickleberg brothers say the State Government forced them to accept the $1 million payment.
Peter Mickelberg, Member
Peter Mickelberg is a financial analyst and trader who has specialized in precious metals and mining equities. He is currently a communications consultant to Mr Sinclair and his company, Tanzanian Royalty Exploration Corporation.
About Singapore Precious Metals Exchange (SGPMX)
Established in August 2011, SGPMX is the world's first physical bullion exchange established for investors, traders and institutions to trade physical precious metals like gold and silver with physically backed bullion storage facilities. It provides consolidated offerings for customers to buy, sell, store and exchange precious metals under one platform, and is privately held and independently funded.
Victor Foo, CEO and founder of SGPMX said, "As part of the company's long term growth strategy, we have invited industry specialists and experts from various fields to form the Advisory Board. With each member's expertise, we are confident that they will not only value add to the management of the Exchange, but also drive the bullion industry forward with the initiatives in the pipeline."
Bios of Members of the SGPMX Advisory Board
Jim Sinclair, Executive Chairman of SGPMX
Sinclair is a precious metals specialist, commodities and foreign currency trader. He was the Chief Executive Officer of Northwestern Basemetals Company Limited since 2012. He has authored three books on precious metals, trading strategies and geopolitical events, and their relationship to world economics and the markets.
Dato' Yusli Yusoff, Member
Dato' Yusli Yusoff was the CEO of Kuala Lumpur Stock Exchange (Bursa Malaysia Berhad) from 2004 till 2011. Currently, he sits as an Independent Non-Executive Director on the Board of Directors of a few public listed companies, including YTL Power International Berhad, Mulpha International Berhad, Mudajaya Group Berhad, Air Asia X Berhad and Westports Holdings Berhad.
Dato' Raymond Liew, Member
Dato' Raymond Liew is the President of McMillan Woods Global, an independent member firm of McMillan Woods Global network. He is also a Trustee of the Malaysian Accountancy Research & Education Foundation and is a Council member of the Chartered Taxation Institute of Malaysia (CTIM).
Ranjit Singh, Member
Ranjit is a general litigator with vast experience and appears regularly in the High Court and Federal Court of Malaysia. Besides representing and advising public listed companies and professionals, Ranjit also acts as counsel to the Malaysian Bar's compulsory insurance scheme.