Monday, April 29, 2013

The More Illegal Immigrants That Go On Food Stamps The More Money JP Morgan Makes

Michael Snyder
Economic Collapse
April 29, 2013

Recently uncovered documents prove that the Obama administration has been working with the Mexican government to increase the number of illegal immigrants on food stamps, and when more illegal immigrants go on food stamps JP Morgan makes more money.  As you will read about below, JP Morgan has made at least 560 million dollars processing Electronic Benefits Transfer cards.  Each month, JP Morgan makes between $.31 and $2.30 for every single person on food stamps (and that does not even include things like ATM fees, etc).  So JP Morgan has a vested interest in seeing poverty grow and the number of people on food stamps increase.  Meanwhile, the Obama administration has been aggressively seeking to expand participation in the food stamp program.  Under Obama, the number of people on food stamps has grown from 32 million to more than 47 million.  And even though poverty in America is absolutely exploding, that apparently is not good enough for the Obama administration.  It has now come out that the U.S. Department of Agriculture has provided the Mexican government with literature that actively encourages illegal immigrants to enroll in food stamps.  One flyer contains the following statement in Spanish: “You need not divulge information regarding your immigration status in seeking this benefit for your children.”  The bold and the underlining are in the original document in case you were wondering.  Overall, federal spending on food stamps increased from 18 billion dollars in 2000 to 85 billion dollars in 2012, and at this point one out of every five U.S. households in now enrolled in the food stamp program.  When people illegally or fraudulently enroll in the food stamp program, it makes it harder for those that desperately need the help to be able to get it.
It is certainly a good thing to help fellow Americans that are suffering.  It is a crying shame that more than a million public school students in America are homeless.  That should not be happening in the “wealthiest nation on earth”.
But today we have a system that has turned poverty into big business.  According to an article posted on Breitbart.com, JP Morgan has made at least 560 million dollars (and probably much more) processing EBT cards…
A new report by the Government Accountability Institute finds that JP Morgan has made at least $560,492,596 since 2004 processing the Electronic Benefits Transfer (EBT) cards of 18 of the 24 states it has under contract for the food stamp program.
Daily Beast article provided some more specifics about the monster profits that JP Morgan is making…
Just how lucrative JP Morgan’s EBT state contracts are is hard to say, because total national data on EBT contracts are not reported. But thanks to a combination of public-records requests and contracts that are available online, here’s what we do know: 18 of the 24 states JP Morgan handles have been contracted to pay the bank up to $560,492,596.02 since 2004. Since 2007, Florida has been contracted to pay JP Morgan $90,351,202.22. Pennsylvania’s seven-year contract totaled $112,541,823.27. New York’s seven-year contract totaled $126,394,917.
These contracts are transactional contracts, meaning they are amendable based on changes in program participation. Each month, the three companies that administer EBT receive a small fee that can range from $.31 to $2.30 (or higher depending upon the number of welfare services on an EBT card and state contractual requirements) for each SNAP recipient.
So the more people that are out of work and that need to turn to the government for food, the bigger profits that JP Morgan makes.
What makes all of this even more insulting is that many of the jobs that JP Morgan could be providing to Americans to help alleviate this poverty are being shipped overseas instead.  As I noted in aprevious article, many EBT card customer service calls are being routed to call centers in India by JP Morgan.
So why doesn’t anyone do anything about this?
Well, it turns out that JP Morgan has the politicians that oversee the food stamp program in their back pocket.  The following is from a recent Money Morning article
And the bank has taken steps to make sure the SNAP program remains a growing source of revenue. JPMorgan’s political donations to the members of House and Senate agricultural committees, the ones with legislative responsibility for the program, soared from just over $82,000 in 2002 to nearly $333,000 as of 2010.
What a wonderful system we have, eh?
And surely JP Morgan just loves the fact that the Obama administration is actively encouraging illegal immigrants to apply for food stamps.
What you are about to read should absolutely shock you.  At a time when the U.S. government is absolutely drowning in debt, the Obama administration is making it abundantly clear to illegal immigrants that their immigration status will not be checked when they apply for food stamps.  The following is from a recent Judicial Watch press release
Judicial Watch today released documents detailing how the U.S. Department of Agriculture (USDA) is working with the Mexican government to promote participation by illegal aliens in the U.S. food stamp program.
The promotion of the food stamp program, now known as “SNAP” (Supplemental Nutrition Assistance Program), includes a Spanish-language flyer provided to the Mexican Embassy by the USDA with a statement advising Mexicans in the U.S. that they do not need to declare their immigration status in order to receive financial assistance.  Emphasized in bold and underlined, the statement reads, “You need not divulge information regarding your immigration status in seeking this benefit for your children.”
The documents came in response to a Freedom of Information Act (FOIA) request made to USDA on July 20, 2012.  The FOIA request sought: “Any and all records of communication relating to the Supplemental Nutrition Assistance Program (SNAP) to Mexican Americans, Mexican nationals, and migrant communities, including but not limited to, communications with the Mexican government.”
The documents obtained by Judicial Watch show that USDA officials are working closely with their counterparts at the Mexican Embassy to widely broaden the SNAP program in the Mexican immigrant community, with no effort to restrict aid to, identify, or apprehend illegal immigrants who may be on the food stamp rolls.
You can see a copy of the flyer right here.
So who pays for all of this?
You do of course.
The Obama administration is doing all that it can to promote illegal immigration, and big banks such as JP Morgan just make bigger profits the more illegal immigration that we see, but it is you and I that end up with the bill.  This was put beautifully in a recent article by Mike Adams of NaturalNews.com
Nearly $75 billion of taxpayer money is spent each year on federal food stamps, and it turns out some of that is alarmingly being handed out to illegal immigrants — people who contribute nothing to the federal tax base in America but who seem to be experts on collecting social welfare benefits of all kinds. If you are working for a living, you are buying food for illegals who are being actively recruited by Obama and the democratic party so that they will vote more democrats into office.
When we reward illegal immigration, what happens?
That’s right – we are just going to get even more illegal immigration.
According to WND, we have already started seeing a huge increase in illegal immigrants coming across the border since Congress began debating the amnesty bill…
Illegal border crossings have doubled, and possibly even tripled, since the latest congressional push began toward comprehensive immigration reform.
In reporting first published by Townhall.com’s Katie Pavlich, border patrol agents in the Tucson/Nogales sector claim illegals are coming here in much higher numbers in just the past few months.
“We’ve seen the number of illegal aliens double, maybe even triple since amnesty talk started happening,” an unnamed border agent said to Townhall. The data from Customs and Border Protection cited in the report shows 504 illegals were detected crossing in that sector between Feb. 5 and March 1. Only 189 were caught on camera, and just 174 of the 504 were apprehended. Of those spotted on camera, 32 were carrying huge packs believed to contain drugs and several were heavily armed.
If that bill is passed, it is being projected that it will bring 33 millionmore people into this country…
The pending Senate immigration bill would bring a minimum of 33 million people into the country during its first decade of operation, according to an analysis by NumbersUSA, a group that wants to slow the current immigration rate.
By 2024, the inflow would include an estimated 9.2 million illegal immigrants, plus 2.5 million illegals who arrived as children — dubbed ‘Dreamers’ — plus roughly 3.4 million company-sponsored employees with university degrees, said the unreleased analysis.
The majority of the inflow, or roughly 17 million people, would consist of family members of illegals, recent immigrants and of company-sponsored workers, according to the NumbersUSA analysis provided to The Daily Caller.
We have made legal immigration a complete and total nightmare while leaving the back door completely wide open at the same time.
We greatly punish those who are trying to do things legally while at the same time we are greatly rewarding those that are cheating the system.
What kind of sense does that make?
Shouldn’t we insist that everyone come in through the front door?
Those that are coming over our borders illegally know what the score is
Linda Vickers, who owns a ranch in Brooks County, which is Ground Zero for the immigration debate, pins the blame directly on talk of ‘amnesty’ and a ‘path to citizenship’ for people who entered the U.S. illegally.
She recalls one man being arrested on her ranch not long ago.
“The Border Patrol agent was loading one man up, and he told the officer in Spanish, ‘Obama’s gonna let me go’.”
Border Patrol agents report that immigrants are crossing the border, and in some cases surrendering while asking, “Where do I go for my amnesty?”
We are already becoming a poverty-stricken nation.  We simply can’t afford to feed millions upon millions of illegal immigrants as well.
As I write this, the U.S. national debt is$16,758,107,082,298.63.
We now have a debt to GDP ratio of about 105 percent.
In the United States today, the amount of money that is deposited in our banks is about 9.3 trillion dollars.  If we took every penny of that and used it to pay off the national debt, we would still owe more than 7 trillion dollars.
We are stealing more than 100 million dollars from future generations of Americans every single hour of every single day to pay our bills, and yet everyone seems to think that this is “normal” somehow.
The truth is that what we are doing is absolutely criminal, and we should all be ashamed.
For much more on our exploding national debt, please see the following article: “55 Facts About The Debt And U.S. Government Finances That Every American Voter Should Know“.
In the end, it should be apparent to everyone that our system is failing.  Our government is corrupt, our big banks are consumed with greed and most average Americans are so addicted to entertainment that they have absolutely no idea what is going on.
What would those that bled and died for this country think about what we have become today?

VIDEO: The Alex Jones Show Sunday 4/28/13. Everything Is Rigged To Fail By The Global Bankster Crime Syndicate!!




Sunday, April 28, 2013

Bilderberg Sleuth Jim Tucker Passes Away, Aged 78


American Free Press
April 28, 2013

James P. Tucker, Jr. (12/31/1934 – 4/26/2013), famed Bilderberg Hound, author of Jim Tucker’s Bilderberg Diary, passed away yesterday due to complications he suffered following a fall.
A proper tribute to Tucker will rendered next week when the front page of AMERICAN FREE PRESS newspaper will be dedicated to Jim.
The thoughts and prayers from all of us at AMERICAN FREE PRESS go out to his family and friends. Thank you, Tucker, for all that you did to shine the light on the “criminals” of Bilderberg.
Please read his obituary below by colleague Michael Collins Piper and listen to the last interview Tucker gave AFP prior to his passing.

Our Good Friend Jim Tucker is Gone, But He May Get the Last Laugh on David Rockefeller
By Michael Collins Piper

Jim Tucker’s only regret was probably the fact he didn’t outlive his sworn nemesis of more than a quarter of a century, international banker David Rockefeller. The colorful former editor of AMERICAN FREE PRESS—and still a continuing correspondent for this newspaper—Tucker died at a hospital in Virginia on April 26 at age 78 following complications arising from injuries received after falling down the steps in his home while in the company of his family.
Best known for having trailed the aforementioned Rockefeller and the members of such high-level power groups such as the Council on Foreign Relations, the Trilateral Commission and, most notably, the Bilderberg group, literally all over the planet for decades, the legacy of the North Carolina-born self-described “country boy” as a hard-driving investigative reporter is one that is hard to rival.
Prior to coming to work in Washington, D.C. in 1975 as managing editor of the newly-launched national weekly, The Spotlight, Tucker had been, by his own admission, a conventional journalist with a wide range of experience in the mainstream press, largely confident that the big media in America was doing its job, bringing readers the news they needed to know. He was sports editor of the The Northern Virginia Sun, managing editor of The Daily Tifton Gazette in Georgia, managing editor of The Radford (Va.) Daily News, copy editor of The Richmond (Va.) Times-Dispatch; night editor of The Washington Daily News in the nation’s capital, managing editor of The Martinsville (Va.) Bulletin, and news editor of The Akron (Ohio) Beacon Journal.
However, the day that Willis Carto, treasurer of Liberty Lobby, the populist institution that published The Spotlight, called Tucker into his office and described to Tucker the little-known history of the Bilderberg meetings, Tucker’s worldview—particularly from his perspective as a journalist—changed forever.
Despite all his years in the media, Tucker had never once heard of Bilderberg and he realized—as any real journalist should—that there was something wrong. As Tucker summarized it—all quite correctly—time and again, over the years, “If a hundred of the world’s best known sports figures or film stars were gathered at some exclusive resort behind closed doors for a private meeting, the entirety of the mass media would be on hand, clamoring for admittance and demanding to know what was going on. But when the world’s richest bankers, media barons, industrialists, members of royalty, and political leaders were meeting secretly and discussing public policy matters that impacted on the course of the world’s affairs, the establishment press never said a word.”
From 1975 to 1982, as editor of The Spotlight, Tucker supervised a wide-ranging array of journalists who trailed the Bilderberg and Trilateral gangs here and abroad. But in 1983, Tucker himself went on the road as The Spotlight’s man on the scene and scorched the Bilderbergers and Trilateralists with blistering real news coverage, from Japan to Portugal to France, England, Germany—wherever and whenever the global intriguers met, even as the rest of the American media remained mum, despite the fact that, over and over again, over the next three decades, Tucker’s pioneering investigations unveiled Bilderberg-Trilateral plans that had a direct influence on public policy affecting every man, woman and child on the face of the planet.
After the demise of The Spotlight in 2001—orchestrated by a clique of figures (including a corrupt federal judge) with known links to the Central Intelligence Agency and to Israel’s intelligence service, the Mossad—Tucker picked up his work with the newly-launched AMERICAN FREE PRESS, for which he served for several years as managing editor, and continued pressing the Bilderberg and Trilateral vultures wherever they swooped down to nest and hatch their latest plots.
Each and every year up until 2012—Tucker was there. Hustling about, grooming sources (including members of the staffs of the hotels where Bilderberg met), lending his support to other journalists who came on the scene, and generally driving the Bilderberg elite up the wall—and, literally, into the wall: On one occasion Tucker discovered a secret listening device planted in the wall of the hotel room he was occupying in an inn located close to Bilderberg’s gathering place at one of the exclusive resorts the shadowy intriguers regularly met.
In recent years—as more and more journalists worldwide became aware of the existence of the secretive Bilderberg meetings and started arriving on the scene themselves, looking for leads, Tucker became “the man to see,” when the grizzled veteran journalist—an unabashed journalist of the old school, a two-fisted drinker and unapologetic three-packs-a-day smoker—showed up to keep the hoity-toity “suits” at Bilderberg on their toes.
Tucker maintained regular contact with a number of sympathetic sources both inside and close to the Bilderberg elite, and just days before his death, he had once again cracked Bilderberg secrecy and managed to uncover the location of Bilderberg’s upcoming meeting in England—despite (as per usual) Bilderberg’s efforts to misdirect Tucker from learning their real destination.
Having slowed down considerably in recent months, Tucker had just decided not to attend this year’s gathering, passing his torch to AFP correspondent Mark Anderson, who had joined Tucker in covering a number of recent Bilderberg gatherings, but if anything is for certain it is this: the old Bilderberg Hound will be there in spirit and, given the opportunity, he might even slip David Rockefeller a “mickey.”
Tucker is survived by two sons and literally millions of friends and admirers all over the world who appreciated Jim’s wry humor and the real journalism that he represented in every sense of the word. His literary legacy not only includes many thousands of articles published in The Spotlight and AMERICAN FREE PRESS, but also his classic memoir, Jim Tucker’s Bilderberg Diary, and The Crimes of Yalta, first published in 1984 and just recently slated for republication.

The U.S. Is Still Spending Billions In Afghanistan, But No One Seems To Care

David Francis
The Fiscal Times
April 27, 2013

Hard-fought gains in Afghanistan over the last decade are at risk of being squandered – unless immediate action is taken to determine the fate of tens of billions of dollars in questionable reconstruction projects, the chief of the Afghan audit agency said.
In an exclusive interview with The Fiscal Times, John F. Sopko, Special Inspector General for Afghanistan Reconstruction, said that the Pentagon, aid agencies and the State Department must quickly evaluate these projects to determine whether the billions being spent in Afghanistan right now will yield the desired results or not. Many projects are simply not sustainable, he said – and continuing to spend money on them results not just in a wasted fortune, but very real risks to nearly 70,000 American soldiers who are still there.
“They have not thought about sustainability,” Sopko said, referring to the military, aid agencies and the State Department. “If you don’t think about that, you’re going to build a bridge and give it to the Afghans who can’t sustain it.”
He added, “There’s pervasive corruption throughout the country.”
These warnings from Sopko – who was appointed to his post last summer by President Obama – come as lawmakers, the public, and the policy community in D.C. have largely turned their attention away from the war and from the soldiers still fighting and dying there. Despite spending some $500 billion to fight in Afghanistan, the war is becoming invisible. Sopko and his team at SIGAR are among the few voices reminding the country about financial mismanagement, corruption and the continuing threat to American lives.
“I believe in the mission in Afghanistan,” he said. “We lost too many lives and we’ve spent too much money” to ignore it.

Full article here

Everything Is Rigged: The Biggest Price-Fixing Scandal Ever

MATT TAIBBI
The Rolling Stone
April 27, 2013

Conspiracy theorists of the world, believers in the hidden hands of the Rothschilds and the Masons and the Illuminati, we skeptics owe you an apology. You were right. The players may be a little different, but your basic premise is correct: The world is a rigged game. We found this out in recent months, when a series of related corruption stories spilled out of the financial sector, suggesting the world’s largest banks may be fixing the prices of, well, just about everything.
You may have heard of the Libor scandal, in which at least three – and perhaps as many as 16 – of the name-brand too-big-to-fail banks have been manipulating global interest rates, in the process messing around with the prices of upward of $500 trillion (that’s trillion, with a “t”) worth of financial instruments. When that sprawling con burst into public view last year, it was easily the biggest financial scandal in history – MIT professor Andrew Lo even said it “dwarfs by orders of magnitude any financial scam in the history of markets.”
That was bad enough, but now Libor may have a twin brother. Word has leaked out that the London-based firm ICAP, the world’s largest broker of interest-rate swaps, is being investigated by American authorities for behavior that sounds eerily reminiscent of the Libor mess. Regulators are looking into whether or not a small group of brokers at ICAP may have worked with up to 15 of the world’s largest banks to manipulate ISDAfix, a benchmark number used around the world to calculate the prices of interest-rate swaps.
Interest-rate swaps are a tool used by big cities, major corporations and sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. It’s about a $379 trillion market, meaning that any manipulation would affect a pile of assets about 100 times the size of the United States federal budget.
It should surprise no one that among the players implicated in this scheme to fix the prices of interest-rate swaps are the same megabanks – including Barclays, UBS, Bank of America, JPMorgan Chase and the Royal Bank of Scotland – that serve on the Libor panel that sets global interest rates. In fact, in recent years many of these banks have already paid multimillion-dollar settlements for anti-competitive manipulation of one form or another (in addition to Libor, some were caught up in an anti-competitive scheme, detailed in Rolling Stone last year, to rig municipal-debt service auctions). Though the jumble of financial acronyms sounds like gibberish to the layperson, the fact that there may now be price-fixing scandals involving both Libor and ISDAfix suggests a single, giant mushrooming conspiracy of collusion and price-fixing hovering under the ostensibly competitive veneer of Wall Street culture.

Full article here

VIDEO: Total Proof Boston Bombings Was A False Flag!




VIDEO: Alex Jones Weekend Crazy News 4/27/13. R.I.P. Jim Tucker - A True Patriot And A Warrior Against Builderberg Group And The NWO!!!










Friday, April 26, 2013

10 Signs The Takedown Of Paper Gold Has Unleashed An Unprecedented Global Run On Physical Gold And Silver

The Economic Collapse
By Michael Snyder
April 18th, 2013
http://theeconomiccollapseblog.com/archives/10-signs-the-takedown-of-paper-gold-has-unleashed-an-unprecedented-global-run-on-physical-gold-and-silver

The crash of the price of paper gold on Monday has unleashed an unprecedented global frenzy to buy physical gold and silver.  All over the planet, people are recognizing that this is a unique opportunity to be able to acquire large amounts of gold and silver at a bargain price.  So precious metals dealers now find themselves being overwhelmed with orders in the United States, in Canada, in Europe and over in Asia.  Will this massive run on physical gold and silver soon lead to widespread shortages of those metals?  Instead of frightening people away from gold and silver, the takedown of paper gold seems to have had just the opposite effect.  People just can't seem to get enough physical gold and silver right now.  Those that wish that they had gotten into gold when it was less than $1400 an ounce are able to do so now, and it is absolutely insane that silver is sitting at about $23 an ounce.  If the big banks continue to play games with the price of gold, we are going to see existing supplies of physical gold and silver dry up very quickly.  And once reports of physical shortages of gold and silver become widespread, it is going to absolutely rock the financial world.  But this is what happens when you manipulate free markets - it often has unintended consequences far beyond anything that you ever imagined.
The following are 10 signs that the takedown of paper gold has unleashed an unprecedented global run on physical gold and silver...
#1 According to Zero Hedge, the U.S. Mint set a new all-time record for the number of gold ounces sold on Wednesday...
According to today's data from the US Mint, a record 63,500 ounces, or a whopping 2 tons, of gold were reported sold on April 17th alone, bringing the total sales for the month to a whopping 147,000 ounces or more than the previous two months combined with just half of the month gone.
#2 Precious metals dealers all over the United States are having a really hard time keeping up with demand right now.  According to Chris Martenson, many are warning customers to expect waiting times of five to six weeks at this point...
In the U.S., all of the dealers I talk to are reporting huge demand and brisk buying. Silver in any form is quite hard to come by unless you want to pay premiums of 20%+ per ounce above spot price. Delivery times are 5 to 6 weeks out now that's an unusual situation.  If this recent slam was designed to scare people away from gold, it did not have that desired outcome; in fact, just the opposite.
#3 Individual dealers all over the country are confirming that we are seeing a voracious appetite for precious metals at the moment.  For example, the following is what a spokesperson for JM Bullion had to say...
We still have certain things in stock, like 10 oz bars, while others, like Silver Eagles, are a bit of revolving inventory.
The shipments are going out as soon as inventory comes in.
Our main challenge right now is actually getting the silver into the boxes and shipped out – we have been experiencing astounding volume.
This appears to be a widespread phenomenon.  Just check out what other dealers are reporting...
“There has been a marked increase in demand since the plunge,” said Mark O’Byrne, executive director at Dublin-based investment and bullion specialist GoldCore, referring to the drop in gold prices seen Friday and Monday. Gold futures lost more than $200 an ounce, or over 13%, on those two days. They were at $1,392 an ounce, moving higher ahead of the close on Thursday.
GoldCore has seen more buying than selling on Wednesday and Thursday, with buy orders “lumpier and from high net worth clients, and with most of the selling in small orders of less than 50 ounces, said O’Byrne.
On Wednesday, David Beahm, executive vice president at Blanchard & Co., said his precious-metals investment firm has seen “2008-like demand” for gold since Monday.
#4 Large international banks are also experiencing tremendous demand for physical gold and silver by customers right now.  The following is what Keith Barron told King World News about what he is hearing...
At the Bank of Nova Scotia in Toronto the gold window has been absolutely swamped. I have confirmed there were people lined up in droves recently for multiple-hours at a time to buy gold and silver bars and coins....
I then confirmed with UBS today in Zurich, Switzerland, that they are experiencing exactly the same thing. They told me people are waiting in long lines for bullion related bars and coins. The physical market is incredibly tight, and there is a huge buying opportunity right here.
The damage in gold will not be long-term because physical supply is already drying up. Asian countries have been aggressively buying gold. This really is an unprecedented opportunity for investors. This takedown in the metals has created incredible demand for both gold and silver, and anyone who wants to unload dollars or euros and put them into gold because they don’t trust the currency, now is the time to do it.
#5 The demand for physical gold and silver is heating up over in Europe as well.  For example, the following is from an emergency message posted on the website of a precious metals dealer in the UK...
Due to the unprecedented demand triggered by the recent fall in the Gold Price we are currently not able to guarantee Next Day Delivery of orders.
We anticipate that all orders will be delivered within 7 days of receipt by us.
Whilst we appreciate that these delays are frustrating for our customers we would like to stress that all accepted orders are guaranteed at the order price and will be dispatched as soon as possible.
It is necessary for all of our staff to be utilised in fulfilling orders and we ask for your cooperation by not calling us to query delivery times. If you do need to contact us, please do so by e-mail and we will endeavour to respond within 48hrs.
#6 On the other side of the globe, demand for precious metals is skyrocketing as well.  According to Bloomberg, people are "running through the gate" to get gold in Australia...
Gold sales from Australia’s Perth Mint, which refines nearly all of the nation’s bullion, surged after prices plunged, adding to signs that the metal’s slump to a two-year low is spurring increased demand.
“The volume of business that we’re putting through is way in excess of double what we did last week,” Treasurer Nigel Moffatt said by phone, without giving precise figures. “There’s been people running through the gate.”
#7 Reuters is reporting that customers are waiting for up to three hours to buy gold in Japan...
A week ago, as the yen-denominated price neared a new peak, jewelry stores and gold merchants across Japan saw long lines of mostly older Japanese looking to cash in on unwanted jewelry and other items that they had held for years.
But on Tuesday, buyers outnumbered sellers by a wide margin. At Ginza Tanaka, the headquarters shop of Tanaka Holdings, gold buyers waited for as long as three hours for a chance to complete a transaction.
#8 According to a Chinese article quoted by the Blaze, there is a mad rush to buy gold in China right now...
People have to rush to buy gold … gold bullion out of stock yesterday, investors yesterday to spend as much as 600 million yuan to buy 20 kilograms of gold bars
The mad pursuit gold insufficiency is not just a game for the rich. Yesterday, the Yangcheng Evening News reporter learned from the East flowers to Bay store, many growers, pork traffickers, fishmonger recently put down his job went straight to the mall to buy gold.
#9 According to Reuters, dealers in Singapore are having significant trouble finding enough of a supply to keep up with the intense demand for gold that has erupted this week...
"People are actually buying everything, gold bars, gold coins. People are rushing to get a hand on it. We have a problem meeting the demand because we are unable to get new supply," said Brian Lan, managing director of GoldSilver Central Pte Ltd in Singapore.
#10 Bloomberg is reporting that over in India people are "flocking to stores" to purchase gold jewelry and coins...
Gold buyers in India, the world’s biggest consumer, are flocking to stores to buy jewelry and coins, betting a selloff that plunged bullion to a two-year low may be overdone.
“My daughter is just six months old, but I think it is never too early to buy gold,” said Sharmila Shirodkar, a 28- year-old housewife, while displaying a new pair of earrings she bought from a store in Mumbai’s Zaveri Bazaar. “I had been asking my husband every day if prices will go down more. I couldn’t wait anymore.”
If the big banks were trying to scare people away from gold and silver by crashing paper prices for those metals then they have utterly failed.
Instead of being frightened away, the global appetite for physical gold and silver is now more voracious than ever.
If the prices for gold and silver stay this low, we are eventually going to start seeing some very serious shortages in the marketplace.
And once reports of shortages of the actual physical metals become widely circulated, it will cause an "adjustment" in the marketplace that will shock everyone.
So hold on to your hats.  We are entering a period of time when there will be unprecedented volatility for the prices of precious metals.  It will be quite a roller coaster ride, but if you can handle the ups and downs it will be worth it in the end.

UNPRECEDENTED Shortages Of Ammo, Physical Gold And Physical Silver

Michael Snyder
Economic Collapse
April 26, 2013

All over the United States we are witnessing unprecedented shortages of ammunition, physical gold and physical silver.  Recent events have helped fuel a “buying frenzy” that threatens to spiral out of control.  Gun shops all over the nation are reporting that they have never seen it this bad, and in many cases any ammo that they are able to get is being sold even before it hits the shelves.  The ammo shortage has already become so severe that police departments all over America are saying that they are being told that it is going to take six months to a year to get their orders.  In fact, many police departments have begun to trade and barter with one another to get the ammo that they need.  Meanwhile, the takedown of paper gold and paper silver has unleashed an avalanche of “panic buying” of physical gold and physical silver all over the planet.  In the United States, some dealers are charging premiums of more than 25 percent over the spot price for gold and silver and they are getting it.  People are paying these prices even though they are being told that delivery will not happen for a month or two in many cases.  Some dealers are feverishly taking as many orders as they can, and they are just hoping that they will be able to get the physical gold and silver to eventually fill those orders.  Personally, I have never seen anything like this.  If things are this tight now, what is going to happen when the next major financial crisis strikes and people really begin to panic?
The shortages and rationing of ammunition at gun shops all over America just seem to keep getting worse.  The following is from an article by a gun owner down in Texas named Brad Meyer
If you’d like to see a normally sullen sales clerk chortle with derisive pleasure, just walk into just about any gun range, sporting goods store or mass merchandiser and try and buy a couple boxes of .22 ammunition.
Gun enthusiasts are up in arms about a nationwide shortage of ammunition. Handgun ammo in general is particularly difficult to find – and when you do find it, there are restrictions on the amount you can buy and how much you’re going to be paying for it.
While the list of hard to find ammo is long, .22 long rifle and 9mm handgun ammunition are particularly difficult to find in quantity. And the few places that have it are charging a premium rate and usually limiting purchases to one box, per person, per day.
Many gun owners try to find ammunition by going on the Internet, but things have gotten so tight that now any ammo that becomes available online is often gone within seconds
There are websites where people across the country post links to where ammunition is available – and it sells out within seconds. Not minutes or hours – seconds.
Unfortunately, all of this demand is also driving up prices.  Just check out what Meyer says is happening to the price of standard .22 ammo…
The demand is driving up the cost of ammunition. Six months ago, standard .22 ammo – the most common type of bullet produced in the world – could be had in bulk for around five cents apiece. It is now going for 50 cents or more on some websites – and people are paying it.
But this shortage is not just affecting private citizens.  According toNewmax, police departments all over the nation are dealing with ammo shortages unlike anything that they have ever seen before…
Sheriff Anthony DeMeo of Nye County, Nev., was told his department’s regular order of 50,000 rounds could take up to a year to arrive.
“This is the first time ever I’ve heard that there’s a problem with a law-enforcement agency getting ammo for their agency,” DeMeo told The Las Vegas Sun.
These departments are not alone. Law enforcement agencies in Oklahoma, Wisconsin, Arizona, and Georgia are among many that are having to limit how much they give their officers due to the shortage.
Could you imagine waiting for “up to a year” to get more ammunition?
A recent article posted on CNSNews.com had some more examples of police departments that are reporting that there is a massive wait to get more ammo…
Chief Pryor of Rollingwood, Texas says of the shortage:
“We started making phone calls and realized there is a waiting list up to a year.  We have to limit the amount of times we go and train because we want to keep an adequate stock.”
“Nobody can get us ammunition at this point,” says Sgt. Jason LaCross of the Bozeman, Montana police department.
LaCross says that manufacturers are so far behind that they won’t even give him a quote for an order.
“We have no estimated time on when it will even be available,” LaCross says.
This is insane.
What in the world could be causing such an ammo crunch?
Well, certainly the demand for guns and ammo has been trending up in recent years – especially since Barack Obama was elected.
But that doesn’t fully account for the shortages that we are witnessing at the moment.
So what is going on?
Well, some people believe that the federal government is responsible.  It has been reported that they have signed contracts to purchase “up to” 1.6 billion rounds of ammunition.  According to Forbes, this amount of ammunition would be enough to fight a “hot war” in America for 20 years
The Denver Post, on February 15th, ran an Associated Press article entitled Homeland Security aims to buy 1.6b rounds of ammo, so far to little notice.  It confirmed that the Department of Homeland Security has issued an open purchase order for 1.6 billion rounds of ammunition.  As reported elsewhere, some of this purchase order is for hollow-point rounds, forbidden by international law for use in war, along with a frightening amount specialized for snipers. Also reported elsewhere, at the height of the Iraq War the Army was expending less than 6 million rounds a month.  Therefore 1.6 billion rounds would be enough to sustain a hot war for 20+ years.  In America.
Could this be a way that the Obama administration is trying to restrict the amount of ammo that gets into the hands of private citizens?
That is what some people are suggesting.
According to talk radio show host Michael Savage, the ammo contracts that the federal government has signed give them priority over all other purchasers…
What Homeland Security is doing here is they’re issuing a contract to buy up to that amount of ammo if they want it…
It’s a way to control the amount of market that’s available on the commercial market at any time.
If they go to the ammo manufacturers and say give me 50 million rounds, give me another 30 million rounds… if they periodically do this in increments, they’re going to control how much ammo is available on the commercial market.
As part of their contract it stipulates in there that when the government calls and says give us another quantity, that everything they make has to go to the government priority one before any of it goes to the commercial market.
So, if  they get nervous, all they have to do is use that contract that they have in place… and they just say ‘give us some more.’
So whenever the government wants to tighten the supply of ammunition, all they have to do is invoke their contracts and order more for themselves.
Meanwhile, Obama appears to be doing other things to restrict the amount of ammo that gets into the hands of private gun owners.
For example, there are reports that the Obama administration plans to use executive orders to greatly restrict the importation of ammo from overseas.
So if anything, the shortage of ammunition is only going to get worse, not better.
Meanwhile, the “panic buying” of physical gold and physical silver that we have seen lately has really run down inventories.
According to Reuters, demand has become so intense that the U.S. Mint has suspended sales of gold coins for the first time since 2009…
The U.S. Mint said it has suspended sales of its one-tenth ounce American Eagle gold bullion coins as surging demand after bullion’s plunge to two-year lows depleted the government’s inventory. This marks the first time it has stopped selling gold product since November 2009, dealers said.
At the same time, precious metals dealers all over the country are scrambling to meet the voracious demand that they have been seeing this month.  The following is an excerpt from a letter that the CEO of Texas Precious Metals recently sent out to his customers…
The physical silver market is, in a word, ugly. There is no telling at this point when mint inventories will return to normal, but you can be sure it will not happen within the next 8 weeks. Most dealers, at this point, are selling their current customer demand forward, meaning they are selling product they do not presently have, expecting to pull from future mint allocations. Consequently, future allocations will face pressure from today’s demand. It is not my intent here to comment on the business practices of other companies, but I will say that no one can possibly predict future allocations at the time. The US mint, for example, releases its allocations weekly, and until then, dealers have no insight into allocation levels. Last week, we turned away business in excess of 100,000 ozs of silver because of stock depletion. However, we stand by the notion that it is better to lose a sale than lose a customer by delaying delivery two months (or more).
A similar thing is happening over in Asia.  According to the Financial Times, soaring demand has caused a shortage of gold at the Hong Kong Gold & Silver Exchange Society…
Haywood Cheung, president of the Hong Kong Gold & Silver Exchange Society, said the exchange had effectively run out of most of its holdings as members looked to meet a shortfall in supply amid rampant retail demand for gold products.
“In terms of volume, I haven’t seen this gold rush for over 20 years,” he told the Financial Times on Monday, adding that the exchange only had around twenty 1kg bars, and 100 five-tael bars left in its inventory. “Older members who have been in the business for 50 years haven’t seen such a thing.”
But most disturbing of all is what Jim Sinclair told King World Newsrecently.  Apparently his friend went to get his gold out of a Swiss bank the other day and they refused to give it to him…
A person that I know with significant deposits in one of the primary Swiss banks, in allocated gold, wanted to take out his gold and was just refused on the basis of directives from the central bank….
They told him the amount was in excess of 200,000 Swiss francs and the central bank had instructed them not to do it because it has to do with anti-terrorism and anti-money laundering precautions.
I really wonder whether those are precautions or whether the gold simply isn’t there. Now you tell me that a London delivery has basically failed. It has to raise our suspicions that the lack of physical gold behind the paper gold is literally so severe that we are coming to understand that it is in fact not there.
The gold that people think is stored is not stored, and the inventory of the warehouses for exchanges may not be holding deliverable gold. There has always been speculation about whether or not the physical gold the US claims to store is in fact in those vaults.
The greatest train robbery in history might be all of the gold, and it would only be something like we have described above that would happen right before gold makes historic highs.
There simply is no gold behind the paper. One example is AMRO, a second is your example with Maguire, and a third is my dear friend who was refused his gold on the basis that its value was too high. Remember this friend of mine had his gold in an allocated account in storage at a major Swiss bank. I repeat, there is no gold.
So are we going to see more of this?
Will it soon become evident that there is simply not enough physical gold to cover all of the promises that the banks have made?
Jim Sinclair sure seems to think so.
In another interview, John Embry expressed similar sentiments to King World News…
This gets back to the tip of the iceberg when the Dutch Bank ABN AMRO came out and literally said that if you have allocated gold with us, you can’t have it.
That, to me, is a default, and it gets back to what Jim Sinclair related when one of his friends went to a Swiss bank and couldn’t get his allocated gold.  I mean that’s preposterous.  If it’s allocated it should be there, but it’s clearly not there.  I think this is the beginning of the end of the massive Ponzi scheme in paper gold.  I have been talking about this for some time, and it will have an enormous impact on future gold and silver prices.
When it becomes widely known that all of the people who think they own gold in fact don’t own gold, that it’s been hypothecated and re-hypothecated so many times that there are 100 claims for every single ounce of physical gold, that is when the prices of gold and silver will really go berserk to the upside, and at that point the shorts will have serious problems.”
If those that helped engineer the recent takedown of paper gold and silver were hoping to scare people away from physical gold and silver, then they failed miserably.  For even more on this, please see my recent article entitled “10 Signs The Takedown Of Paper Gold Has Unleashed An Unprecedented Global Run On Physical Gold And Silver“.
All of this is just another example why I encourage people to get prepared while times are still relatively good.
Once disaster strikes, it may be too late to get the things that you need.
Right now there are a whole lot of people out there wishing that they had stocked up on ammo when it was much cheaper and much more readily available.
We are moving into a time when everything that can be shaken will be shaken.  Use the stability provided by the false bubble of economic hope that we are experiencing right now as an opportunity to get prepared.  The next major wave of the economic collapse is rapidly approaching and time is running out.

Total US Debt To GDP: 105%

Zero Hedge
April 26, 201

Now that we have the first estimate of Q1 GDP growth in both rate of change and absolute current dollar terms ($16,010 billion), we can finally assign the appropriate debt number, which we know on a daily basis and which was $16,771.4 billion as of March 31, to the growth number. The end result: as of March 31, 2013, the US debt/GDP was 104.8%, up from 103% as of December 31, 2012 or a debt growth rate that would make the most insolvent Eurozone nation blush. There was a time when people were concerned about this unsustainable trajectory, but then there was an infamous excel error, and now nobody cares anymore.
In fact, moar debt is moar best-er.

Continue reading here:  http://www.zerohedge.com/news/2013-04-26/total-us-debt-gdp-105

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Central Banks Buying Stocks

Washington’s Blog
April 26, 2013

As we’ve predicted for 5 years, central banks have been buying stocks in order to goose the economy.
Zero Hedge writes today:
When tin-foil-hat wearing … blogs first suggested that Central Banks were actively buying stocks, the mainstream media scoffed at the idiocy and un-independence of such an idea. However, it is clear the central banks themselves are now not only actively buying stocks but are activley encouraging it and propagandizing their efforts to lever this last policy tool left in the toolbox.
As Bloomberg reports23% of central bankers surveyed said the bank owns shares and plans to buy more. From the Bank of Japan to the Bank of Israel and with the SNB and the Czech National Bank now at over 10% allocation of reserves to stocks, is it any wonder there is an inexorable bid under the ‘free’ markets. Rick Santelli is rightly concerned that, “there is a danger that everyone is loaded in the same direction,” asking what happens if all the Central Bank pump-priming does not work, given these equity valuations, “who gets caught holding the bag? What chairs are left when the music stops?”
Via Bloomberg,
Central banks, guardians of the world’s $11 trillion in foreign-exchange reserves, are buying stocks in record amounts as falling bond yields push even risk- averse investors toward equities.

In a survey of 60 central bankers this month by Central Banking Publications and Royal Bank of Scotland Group Plc, 23 percent said they own shares or plan to buy them. The Bank of Japan, holder of the second-biggest reserves, said April 4 it will more than double investments in equity exchange-traded funds to 3.5 trillion yen ($35.2 billion) by 2014. The Bank of Israel bought stocks for the first time last year while the Swiss National Bank and the Czech National Bank have boosted their holdings to at least 10 percent of reserves.

“If reserves are growing, so are diversification pressures. Equities are not for every bank tomorrow, but more are continuing down this path.”

The survey of 60 central bankers, overseeing a combined $6.7 trillion, found that low bond returns had prompted almost half to take on more risk. Fourteen said they had already invested in equities or would do so within five years.

The SNB has allocated about 12 percent of assets to passive funds tracking equity indexes.
Of course, the big banks are all for this.  CNBC reports:
As the Bank of Japan ramps up its monetary stimulus to include buying equities, Jim O’Neill, chairman of Goldman Sachs Asset Management, said it makes sense for central banks to own stocks. O’Neill spoke with CNBC at the Goldman Sachs Growth Markets Summit in New York.
After a survey by RBS was published earlier this month that showed a greater appetite for central banks to invest in equities, “I don’t think people should worry about that,” said O’Neill. He added that many sovereign wealth funds are tied to central banks and are already investing in stocks.
Earlier this month, the Bank of Japan promised to pump $1.4 trillion into the economy in less than two years to combat deflation through open-ended asset purchases. The central bank said on April 4 that it will more than double investments in equity exchange-traded funds by the end of 2014. The Bank currently holds ¥1.4 trillion ($14.1 billion) in ETFs with a target of ¥3.5 trillion ($35.3 billion) in 2014.
“Frankly, it makes a huge amount of sense in a world of floating exchange rates and such incredible opportunity, why should central banks keep so much money in very short term, liquid things when they’re not going to ever need it?” O’Neill said. “To help their future returns for their citizens, why would they not invest in equity?”
Moreover, the Fed has been doing everything it could to entice, lure and bully mom and pop investors back into stocks.
Central bank buying of stocks will drive stocks higher, and lure more investors into the market.
Of course, the Fed’s quantitative easing program does little more than boost the price of stocks andredistribute wealth to the very richest Americans.

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Wednesday, April 24, 2013

VIDEO: Boston Bombing Suspect's Aunt Claims Set Up




VIDEO: Insider Trading Now Easier Thanks to Obama

Prison Planet.com
April 23, 2013

During The Boston Bombing Massacre, President Obama signed a law that gutted the reporting requirements originally included in the Stop Trading on Congressional Knowledge (STOCK) Act. Before these changes were made the STOCK Act required congressional staffers to disclose their finances to the public to help ensure they were not engaging in corrupt practices.



Wednesday, April 17, 2013

VIDEO: Your food, your medicine, your healthcare has all been Doctored!

Doctored is the shocking documentary about the monopolization of our medical system. Why does a visit to a doctor usually end with prescription drugs and expensive medical procedures? Americans encounter an increasingly expensive medical industry, yet the result is a very unhealthy population. Everyday patients hear the following diagnosis:

“Your back pain will require SURGERY”
“Without these pills, you face life-long PAIN”
“Your child’s behavior requires MEDICATION”

That’s what the doctor tells you, but who tells the doctor what to say?

A visit to the doctor can be traumatic enough. Now we learn about the “influencers” – the people you never see, but whose job it is to turn you into a compliant, pill popping, revenue generation unit. And at all costs. Doctored reveals the unseen tactics of these “influencers” in an investigation that leads to the highest levels of the American Medical Association (AMA) and reveals an alarming portrait of deception and criminality.

Along the way we wonder:

Is much of what we “know” about modern medicine just slick marketing from companies that profit from our pain?
Why aren’t we being told about the successes of natural therapies?
Why do so many people think chiropractors are “quacks,” nutritional supplements a waste of money, and acupuncture a fringe therapy?

Is it because the “Medical Monopoly” spends millions a year attacking, ridiculing, and trying to discredit these natural therapies? The answers are almost beyond belief, until Doctored takes us into the courtroom with five chiropractors who, having been labeled “an unscientific cult," fought back and won a landmark verdict.

Their heroic story forms the backdrop of one of the most personally compelling documentaries ever. Because of their bravery, the medical industrial complex is no longer blocking access to safe natural alternatives, pill popping is giving way to smarter preventative care, and purveyors of sickness are being shoved aside, resulting in a healthier life for all.

Daily Serving of Soda Increases Aggressive Prostate Cancer Risk by 40%

Mike Barrett
Prison Planet.com
April 17, 2013

Soda is quite possibly the most vilified food/beverage on the market, and for good reason. The beverage offers zero nutritional value, all while increasing the risk of countless diseases. But even with everything we know as a society, soda sales continue upward, and so do the number of studies showcasing the negative effects of the popular drink. According to one recent study, consuming about 1 soda per day increases a man’s risk of prostate cancer by 40% compared to someone who never touches the beverage.
The Swedish study, coming from Lund University and recently published in the American Journal of Clinical Nutrition, focused on the associations between carbohydrates and their food sources in regards to prostate cancer risk. The researchers followed 8,128 men ages 45-73 for an average of 15 years. All were reported to be in good health.
Overall, it was found that fast-releasing carbohydrates and sugary drinks increased the risk of the most aggressive forms of prostate cancer. But for soda specifically, the researchers found that men who drank 300ml of soda each day (slightly less than one can) were more likely to develop the type of prostate cancer which required treatment. Lead researcher Dr. Isabel Drake commented by saying ”among the men who drank a lot of soft drinks or other drinks with added sugar, we saw an increased risk of prostate cancer of around 40 percent.
In addition to the concerning association between soda consumption and increased prostate cancer risk, the researchers also found that:
  • Men consuming a high amount of carbohydrates from wheat, rice and pasta increased their risk of developing milder forms of prostate cancer by 31%. These forms typically required no treatment.
  • Men consuming sugary breakfast cereals saw a 38% increase in developing milder forms of prostate cancer as well.
Also outlining an association between soda and increased cancer risk, another study from University of Minnesota School of Public Health found that 87 percent of over 60,000 test subjects were likely to develop pancreatic cancer, and soda played a role.
“The important take away from our study is that habitual consumption of soft drinks may be linked to an increased risk of pancreatic cancer. In response to any criticisms, I’d like to point out that our results align with a recent  Columbia University Mailman School of Public Health meta-analysis of studies on this topic, including ours, which found that soft drink consumption was indeed positively associated with pancreatic cancer risk,” ,” Noel Mueller, University of Minnesota School of Public Health Ph.D. student and first author on Pereira’s study, told AlterNet.
Time to Stop Drinking Soda
With soda increasing your risk of heart disease, obesity, diabetes, and even cancer, it’s more important than ever to reduce soda consumption on a national and global level. The average person is consuming 300% more sugar than recommended each day, while kids are taking in 7 trillion calories of sugar from soda each year. By dropping the cola, you can dramatically reduce your risk of countless ailments and improve overall health exponentially.

Additional Sources:
DailyMail
The Telegraph
MedicalNewsToday

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After Gold Crash, Experts Point to Central Bank Manipulation

Alex Newman
New American
April 17, 2013

In the wake of gold prices cratering in recent days, more than a few prominent experts have already started pinning the blame on Western central banks — especially the Federal Reserve and the European Central Bank (ECB). According to numerous analysts, the central bankers are desperate to salvage their fiat currencies and eliminate competition as “monetary authorities” continue to create ever-greater quantities of euros and dollars out of thin air.
Some experts, whistleblowers, traders, and former officials say the Fed dumped as much as 400 or even 500 tons of “paper gold” on the market — metals that it might not even have — as part of a naked short sale aimed at driving down the prices. Other analysts, especially among the establishment, pointed to the ECB chief’s recent suggestion that struggling European authorities in countries such as Cyprus would have to sell their precious metals to keep receiving bailouts.
Gold prices plummeted from above $1,550 an ounce on April 11 to below $1,400 by Tuesday, with April 15, seeing the biggest single-day drop in some three decades. Prices for silver witnessed similarly massive declines, dropping to below $24 from around $28 less than a week ago. Analysts referred to the plunges as a “blood bath” that triggered even more sell orders.
However, all of the economic fundamentals that sent gold soaring from about $400 an ounce a decade ago to more than $1,900 an ounce — wild currency-printing binges by privately owned central banks such as the Fed, for example — remain in play. Indeed, monetary authorities in the West have actually expanded their unprecedented so-called quantitative easing (QE) programs in recent years amid a supposed effort to revive the economy.
Economist Dr. Paul Craig Roberts, assistant treasury secretary during the Reagan administration and former editor of the Wall Street Journal, is one of many experts who argue that the recent collapse in gold and silver prices was carefully orchestrated by the Fed and a coalition of allied mega-banks. In a widely cited analysis of the recent plunge in precious metals entitled “Assault On Gold Update,” he said the U.S. central bank was “rigging all markets” — bond prices, interest rates, and of course, the bullion market.
The purpose, Roberts argued, is to protect the value of the dollar while the Fed continues adding to the supply of fiat U.S. currency faster than demand increases. If the dollar’s exchange rate were to fall, prices would rise, the Fed would lose control over interest rates, the bond market would collapse, and turmoil would reign in the financial system, Roberts noted. So, the U.S. central bank had to act. According to Roberts and other experts, it did so by selling “paper” gold that may not even really exist — naked short selling, in other words.
“Rapidly rising bullion prices were an indication of loss of confidence in the dollar and were signaling a drop in the dollar’s exchange rate,” Roberts explained. “The Fed used naked shorts in the paper gold market to offset the price effect of a rising demand for bullion possession. Short sales that drive down the price trigger stop-loss orders that automatically lead to individual sales of bullion holdings once their loss limits are reached.”


Ex-Goldman Sachs employee and veteran London metals trader Andrew Maguire, who soared to prominence after blowing the whistle on the Fed’s manipulation of gold and silver prices, offered a stunning analysis of what happened in the bullion markets in recent days as well. In an interview with King World News, Maguire said that more than 500 tons of “paper gold” had been dumped on the market on April 12 — the day gold prices started dramatically tumbling.
“It just amazes me how people concentrate on what’s happening in one paper market,” Maguire explained, adding that he expected a rebound in prices as shortages develop in the physical gold market amid massive central bank purchases out of countries like China, Russia, Brazil, and India. “I think we’ve reached a point of capitulation. I cannot see how the central bank buying cannot overwhelm all of these short sales, despite the leverage.”
Former U.S. Treasury policy chief Roberts cited Maguire and agreed, pointing to “powerful” circumstantial evidence of Fed intervention in the gold market. However, despite dramatic central bank manipulation, the scam could be on the verge of coming apart at the seams, Roberts explained, citing strong signals that the Fed would not be able to come up with the physical supply on demand.
“Unless the authorities have the actual metal with which to back up the short selling, they could be met with demands for deliveries,” Roberts noted, pointing to the Fed’s bizarre decision not to send Germany’s gold after it was formally requested. “Unable to cover the shorts with real metal, the scheme would be exposed.”
So what does it all mean? “I see the orchestrated effort to suppress the price of gold and silver as a sign that the authorities are frightened that trouble is brewing that they cannot control unless there is strong confidence in the dollar,” Roberts concluded. “Otherwise, what is the point of the heavy short selling and orchestrated announcements of gold sales in advance of the sales?”
Of course, Roberts is hardly the only prominent expert expressing deep suspicion about what is going on in the bullion markets. Robert Fitzwilson, founder of the investment management and financial advisory firm The Portola Group, argues that what is happening is essentially a heist aimed at looting the wealth of innocent people worldwide — indeed, an act of “terrorism” perpetrated by the establishment against unsuspecting victims.
“It is a robbery,” he explained matter-of-factly. “It is about taking that person’s money or other valuable items. The purpose of Friday’s mugging was not to send a message. It was about confiscating wealth through fear, and it worked beautifully. Untold billions of real wealth was forcibly transferred to concentrated positions at certain institutions and countries through this act of financial terrorism. It is not personal. It is simply about taking your wealth.”
James West, publisher of the influential investment-focused Midas Letter, argued that the recent collapse in metals prices was actually the best example yet of how the Fed-sponsored “American Syndicate of Collusion and Manipulation (AMSCAM)” operates. “It’s as plain as the false U.S. economic recovery, and anybody who can’t see it should consider a lobotomy,” he wrote.
Simplified, West said, the scam works through an unholy alliance of mega-banks such as Goldman Sachs building up massive short contract positions in the futures market without executing the trades, putting up only five percent of the cash for the contracts. The Fed-backed bankers then get the establishment press to encourage shorting gold, pointing to an alleged “recovery” in the U.S. economy. Finally, the trade is executed; sending prices plummeting and encouraging holders of physical gold to start selling while the bankers “mop up” as the market craters. “Rinse and repeat,” West wrote of the scam.
“The sheer intensity of the Friday gold assault is indicative of the depth of commitment by the members of AmScam’s group to the destruction of gold’s price correlation to economic and currency health,” he added. “This latest attack on gold is a direct response to the Japanese launch of its intensified $1.4 trillion asset purchase program. The move by the Japanese has notched up the currency devaluation competition, and AMSCAM realized that this move would drive investors away from currencies generally and into precious metals. This is a bald-faced attempt to destroy the appeal of gold as a safe haven against debased fiat currencies.”
Even as much of the “establishment” gloats about the crashing of gold prices — The New York Times’ discredited Keynesian “economist” Paul Krugman was quick to celebrate the news as a vindication of his radical theories — countless experts say now may be a good time to buy more physical metals at a discount. This writer attempted to purchase some today; the little store was packed and most of the bullion was sold out, including silver that had not even arrived yet. Indeed, the fundamentals have not changed: central banks are ramping up the currency printing, none of the systemic problems that led to the recent financial crisis has actually been addressed, and the economy has hardly entered a true, sustainable “recovery.”
“It seems to me that what is intact at the moment is the determination of central banks to print their way out of trouble, which is terrifically bullish for gold over the long term,” James Grant, publisher of Grant’s Interest Rate Observertold Bloomberg in a TV interview about the recent crash in prices. “Gold is not so much a hedge against inflation as it is against monetary disorder.… I am indeed bullish on the stuff — bullish but chagrined.”
Citing a wide array of experts, The New American magazine explained in detail how the Fed was manipulating markets, including gold and silver prices, in a 2010 report about how monetary authorities have essentially rigged markets in everything from stocks and bonds to bullion. “Central banks stand ready to lease gold in increasing quantities, should the price of gold rise,” then-Fed boss Alan Greenspan told the House Banking Committee in 1998. In other words, if gold prices go up, the central bank will make sure they come back down. The Fed has publicly admitted as much.
Even before Greenspan’s infamous admission, a “confidential” Fed document dated April 5, 1961, available in the Federal Reserve Bank of St. Louis’ archives, revealed the central bank’s hand in the metals market. “Monetary authorities in the United States … have maintained the stability (and primacy) of the dollar in the international currency structure by standing ready to buy gold from, and sell it to, foreign monetary authorities who either need or acquire dollars for exchange purposes,” reads the paper, entitled “U.S. Foreign Exchange Operations: Needs and Methods.” The minutes from Fed “Open Market Committee” meetings showed the central bankers jubilantly admitting that even mentioning a possible gold sale would drive the price down. The Fed, of course, also admits that it is a privately owned institution.
As of noon Eastern Time on April 16, gold had rebounded by about $40, though even the most determined bulls say the price could go even lower. Still, numerous experts say it may be a good time to buy — especially if there really is a shortage in the physical market developing, as evidence and analysts suggest. Meanwhile, as The New American reported in February, 2012 saw a record demand for gold, with much of it coming from central bankers in BRICS countries.
“On the other end of this ripple [caused by the Fed dumping gold], almost the same amount of gold is being purchased by the Chinese,” explained CEO Art Thompson with The John Birch Society, a conservative organization and affiliate of this magazine that follows the issue closely. “Those that have the gold rule; that’s the way it is. Follow the flow of gold, you can see the flow of power — that is an ancient reality.” He added that the establishment media was also pumping out articles aimed at getting average people to sell their precious metals, but the reality of what is going on is not being addressed.
The socialist and communist-minded regimes ruling the BRICS countries, meanwhile, recently signed their latest declarationcalling for a global currency managed by the International Monetary Fund (IMF) that would presumably replace the U.S. dollar as the world reserve eventually. They also called for Third World rulers to have a larger role in the international monetary system. As they continue gobbling up gold at what strongly appear to be artificially depressed prices, the BRICS rulers may ultimately get what they want — at least if and when the dollar finally loses its prized status as the global reserve, forcing a complete redesign of the global system. In the end, if nothing is done, Americans will likely end up among the biggest losers.

India’s Response To The Gold Sell Off: A Massive Buying Frenzy

Zero Hedge
April 17, 2013

Panic, depression, rage, suicidal ideations: watching the US mainstream media, one would think that these are the prevailing sentiments among those who unlike the prevailing “developed world” speculative class, are invested most heavily in physical old – Indians, who collectively comprise the largest end-demand consumer segment for gold products. One would be very wrong.
Because while apparently it is incomprehensible to the “sophisticated” financial crowd in the US that someone may have conviction in their beliefs, and not just lunge from extreme to another, merely riding momentum and technicals like so many “professional” investors, Indians are doingprecisely what a buyer should do when the price of the desired product plunges: doubling down, literally.

Bloomberg reports of the immediate aftermath to the past few days’ gold plunge: “Gold buyers in India, the world’s biggest consumer, are flocking to stores to buy jewelry and coins, betting a selloff that plunged bullion to a two-year low may be overdone.” Wait, so instead of jumping out off high buildings, Indians are being cool, calm and collected and… buying more? Unpossible. Do they not get CNBC in Mumbai? Apparently not: “My daughter is just six months old, but I think it is never too early to buy gold,” said Sharmila Shirodkar, a 28- year-old housewife, while displaying a new pair of earrings she bought from a store in Mumbai’s Zaveri Bazaar. “I had been asking my husband every day if prices will go down more. I couldn’t wait anymore.”
Indeed – the buying frenzy in India has been unleashed:

Continue reading here:  http://www.zerohedge.com/news/2013-04-16/indias-response-gold-sell-buying-frenzy

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Tuesday, April 16, 2013

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Is The Takedown Of Gold A Sign That The Entire Global Financial System Is About To Crash?

Michael Snyder
Economic Collapse
April 16, 2013

Somebody out there is sure getting prepared for something really big.  We have just witnessed a takedown of gold and silver unlike anything that we have witnessed in decades.  On Monday, the price of gold had fallen by more than 10 percent at one point.  It shocked investors all over the globe, and overall what we have just seen was the largest two day decline in the price of gold in 30 years.  The price of silver dropped even more rapidly on Monday.  It was down more than 14 percent at one point.  There was an atmosphere of “panic selling” as investors and financial institutions raced to liquidate their holdings of silver and gold.  But was this exactly what someone out there wanted?  As I wrote about the other day, big banks and news outlets all over the world have been boldly proclaiming for weeks that gold is entering a “bear market” and that now is the time for all of us to sell our gold.  In particular, Goldman Sachs reportedly told their clients earlier this month that they “recommend initiating a short COMEX gold position“.  Was that just a “good guess” on their part, or was something else going on?  Were they actually trying to help create a “selling frenzy” that would drive the price of gold much lower?
What we witnessed on Monday was absolutely jaw-dropping.  Just check out this chart of the price of gold over the past 10 years.  The takedown of gold on Monday sticks out like a sore thumb…



And that chart does not even show the full extent of the collapse.  As I write this, the price of gold is sitting at $1355.20.
But this is just the beginning for gold and silver.  As I have warned repeatedly, the price of gold and the price of silver will experience wild swings in the years ahead.
For example, the following is what I wrote about gold and silver on August 7th, 2012
I like precious metals myself, but if you are going to invest you need to get educated so that you know what you are doing.  If you go in blindly you are likely to get burned at some point.
In addition, you need to be prepared for wildfluctuations in price over the coming years.  There will be times when gold and silver absolutely soar and there will be times when they drop like a rock.
So if you are going to play the game you need to be able to handle the ride.
Monday was an example of what I meant when I said that “you need to be able to handle the ride”.  There are going to be a lot more days like Monday (both up and down) for gold and silver in the years ahead.
The foolish people are those that are scared out of their wits and that are selling off all of their gold and silver right now.
Sadly, there was reportedly a tremendous amount of panic selling of gold and silver during this collapse.  The following is what Dennis Gartman told CNBC on Monday
“There are a lot of people throwing up their hands. Throwing positions overboard. Panic is everywhere,” Gartman said in a “Squawk Box” interview on Monday. “I’ve never seen anything like this. I mean it.”
It just shows that there are a lot of stupid people out there.  The following is an excerpt from another CNBC report about the panic selling that was happening on Monday…
“I think the last $20 has been margin selling. The market is falling like a knife. People are saying, ‘Get me out now,’ ” Phoenix Futures President Kevin Grady said. “You’re also seeing people selling energy profits to pay for metals losses. You’re seeing a tremendous amount of gold liquidation today.”
According to Dr. Paul Craig Roberts, Assistant Secretary of the Treasury under President Ronald Reagan, all of this panic selling is the result of an orchestrated takedown of gold and silver…
This is an orchestration (the smash in gold). It’s been going on now from the beginning of April. Brokerage houses told their individual clients the word was out that hedge funds and institutional investors were going to be dumping gold and that they should get out in advance.
Then, a couple of days ago, Goldman Sachs announced there would be further departures from gold. So what they are trying to do is scare the individual investor out of bullion. Clearly there is something desperate going on…
So who is behind all of this orchestration?  Well, according to Dr. Paul Craig Roberts, it is actually the Federal Reserve
The Federal Reserve began its April Fool’s assault on gold by sending the word to brokerage houses, which quickly went out to clients, that hedge funds and other large investors were going to unload their gold positions and that clients should get out of the precious metal market prior to these sales. As this inside information was the government’s own strategy, individuals cannot be prosecuted for acting on it. By this operation, the Federal Reserve, a totally corrupt entity, was able to combine individual flight with institutional flight. Bullion prices took a big hit, and bullishness departed from the gold and silver markets. The flow of dollars into bullion, which threatened to become a torrent, was stopped.
In fact, Dr. Roberts says that former Goldman Sachs trader Andrew Maguire is reporting that the Fed orchestrated the dumping of 500 tons of naked gold shorts into the market on Friday…
According to Andrew Maguire, on Friday, April 12, the Fed’s agents hit the market with 500 tons of naked shorts. Normally, a short is when an investor thinks the price of a stock or commodity is going to fall. He wants to sell the item in advance of the fall, pocket the money, and then buy the item back after it falls in price, thus making money on the short sale. If he doesn’t have the item, he borrows it from someone who does, putting up cash collateral equal to the current market price. Then he sells the item, waits for it to fall in price, buys it back at the lower price and returns it to the owner who returns his collateral. If enough shorts are sold, the result can be to drive down the market price.
As Dr. Roberts noted, this represents an absolutely massive amount of gold…
Consider the 500 tons of paper gold sold on Friday. Begin with the question, how many ounces is 500 tons? There are 2,000 pounds to one ton. 500 tons equal 1,000,000 pounds. There are 16 ounces to one pound, which comes to 16 million ounces of short sales on Friday.
Who has 16 million ounces of gold? At the beginning gold price that day of about $1,550, that comes to $24,800,000,000. Who has that kind of money?
If any of the allegations above are even remotely true, then a whole lot of people need to be criminally investigated.
Meanwhile, many are considering this takedown of gold to be an ominous sign that another major financial crisis may be heading our way.
Just remember what happened back in 2008.  As Zero Hedgenoted on Monday, the price of gold suddenly plunged 21 percent in July 2008.  That was just a couple of months before the U.S. stock market crashed in the fall…
The rapidity of gold’s drop is impressive, concerning, and disorderly. We have seen two other such instances of disorderly ‘hurried’ selling in the last five years. In July 2008, gold quickly dropped 21% – seemingly pre-empting the Lehman debacle and the collapse of the western banking system.
Is this collapse in the price of gold a harbinger of another major stock market crash?
Time will tell.
Meanwhile, many average Americans are wondering if they should dump their gold and silver while they still can.
As I mentioned above, gold and silver are going to experience wild fluctuations over the next few years.  When the next stock market crash comes, gold and silver are probably going to go even lower than they are today for a short time.  But in the long run gold and silver are going to soar to unprecedented heights.
Investing in gold and silver is not for the faint of heart.  If you cannot handle the ride, you should sit on the sidelines.  We are entering a period of tremendous financial instability, and holding gold and silver is going to be like riding a roller coaster.  The ups and downs are going to shake a lot of people up, but the rewards are going to be great for those that stick with it the entire time.