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

From The Economic Collapse

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…

Switzerland to Hold Referendum Banning its Central Bank from Selling Gold Reserves

From Mish’s Global Economic Trend Analysis

In Swiss law, private citizens can put forth any initiative that can gather 100,000 signatures. A campaign by the Swiss People’s Party to “Save our Swiss Gold” gathered 106,052 signatures so a vote will be coming up.

Switzerland is to hold a referendum on a popular measure that would ban the central bank from selling its gold reserves and force it to keep at least 20 per cent of its assets in the metal.

Under the terms of “Save our Swiss Gold”, which is led by members of the ultra-conservative Swiss People’s party, the Swiss National Bank would have to repatriate gold reserves held abroad and keep them at home.

Governments in the eurozone’s beleaguered southern periphery tend to hold a large part of their total foreign reserves in gold – the Italian central bank holds 2,451 tonnes, more than 70 per cent of its total reserves, while Portugal’s holding of 383 tonnes accounts for 90 per cent.

However, proponents of the Swiss measure flatly reject the idea of sales, arguing that disposals of gold reserves at low prices between 2001 and 2006, as well as more recently, have cost Switzerland billions of Swiss francs.

They insist that the SNB’s gold reserves, which stood at SFr49.5bn at the end of February, accounting for about 10 per cent of its balance sheet, are the best store of value available to the central bank.

The Swiss National Bank…

The Market Ticker – Heh Baucus, You DOUCHE!

From The Market Ticker

Oh look, a deathbed confession!

A senior Democratic senator who helped write President Obama’s health care law stunned administration officials Wednesday, saying openly he thinks it’s headed for a “train wreck.”

“I just see a huge train wreck coming down,” Senate Finance Committee Chairman Max Baucus, D-Mont., told Obama’s health care chief during a routine budget hearing that suddenly turned tense.

Naw, really?

You mean that the scams and frauds built into our health care system that have been going on for the last 30 years, if expanded by government force — a literal gun up the nose of Americans both individually and in business — will result in a “train wreck”?

Who could have foreseen that?  Why anyone who gave a damn, that’s who.

It’s not like people such as myself haven’t been raising hell about this since before Obamacare was passed, pointing out exactly where the monopolist games were played and their utterly outrageous and destructive impact on America.

Oh no, you’ve been warned quite fairly Max. 

The truth is that Baucus, like the rest of these clowns, simply thought they could get away with their “friends” in the “medical industry” stealing 20%+ of everything produced in the nation on a permanent and ever-expanding basis.

That this was mathematically impossible and thus that the attempt would destroy American jobs and wreck both the economy and the Federal budget never crossed their pea-brained minds.

Oops.

Is the Fed Printing Money?

From Mish’s Global Economic Trend Analysis

Here’s a seemingly simple question for you: “Is the Fed Printing Money?”

I suspect most of you will reply an emphatic yes, but some of you will say no. Before I give you my take, please ponder a similar question: “Is inflation or deflation coming?”

I posed the inflation question to the audience in my presentation at the Wine Country Conference. My answer was “It depends”.

When I asked the audience “On what does it depend?”, one person answered that it depended on what the Fed did. That answer is incorrect.

Whether the state of affairs is inflation or deflation has precisely the same answer as the question “Is the Fed Printing Money?”: It all depends on the definition.

I started thinking more about definitions while reading the Hoisington Quarterly Review and Outlook for First Quarter 2013 by Lacy H. Hunt and Van R. Hoisington.

“The Federal Reserve is printing money”. No statement could be less truthful. The Federal Reserve (Fed) is not, and has not been, “printing money” as defined as an acceleration in M2 or money supply. Just check the facts. For the first quarter of 2013 the Fed purchased $ 277.5 billion in securities (net) as their security portfolio expanded from $ 2.660 trillion to $ 2.937 trillion. A review of post-war economic history would lead to a logical assumption that the money supply (M2) would respond upward to this massive infusion of

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RE: Firearms and Ammo as a Hedge Against Inflation by CarteachO

From Total Survivalist Libertarian Rantfest

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Falling knife

From Notes From The Bunker

In case you missed it, PM’s crapped the bed the other day as gold tumbled like Ted Kennedy in a tasting room. I’d read a week ago that Cyprus might dump it’s gold to finance it’s bailout and I was wondering if that would have an effect on the market. Can’t say if it did or didn’t, but it’s certainly getting mentioned quite a bit in the ‘why is this happening’ articles. A more interesting theory is that this is a manipulation of the market to bring the price down so that when Cyprus dumps it’s gold it can be had at a bargain price. Hmmm.

The Metals Pimp says “Don’t try to catch a falling kinfe”. While that’s awesome advice in the real world, what does it mean in this regard? Beats me. Let’s go look:

As the phrase suggests, buying into a market with a lot of downward momentum can be quite dangerous. If timed perfectly, a buy at the bottom of a long downtrend can be rewarding – both financially and emotionally – but the risks run extremely high. This term implies that the investment will never be a good one again. Examples of stocks that have plummeted are plentiful; a widely-held stock can drop precipitously as the equity ownership is reduced to nothing.

Hmmm…Well, Im one of those black-helicopter whackos who think that gold will never be worth nothing, so Im not really worried about the last…

History Tells Us That A Gold Crash + An Oil Crash = Guaranteed Recession

From The Economic Collapse

Is the United States about to experience another major economic downturn?  Unfortunately, the pattern that is emerging right now is exactly the kind of pattern that you would expect to see just before a major stock market crash and a deep recession.  History tells us that when the price of gold crashes, a recession almost always follows.  History also tells us that when the price of oil crashes, a recession almost always follows.  When both of those things happen, a significant economic downturn is virtually guaranteed.  Just remember what happened back in 2008.  Gold and oil both started falling rapidly in July, and in the fall we experienced the worst financial crisis that the U.S. had seen since the days of the Great Depression.  Well, a similar pattern seems to be happening again.  The price of gold has already crashed, and the price of a barrel of WTI crude oil has dropped to $ 86.37 as I write this.  If the price of oil dips below $ 80 a barrel and stays there, that will be a major red flag.  Meanwhile, we have just seen volatility return to the financial markets in a big way.  When volatility starts to spike, that is usually a clear sign that stocks are about to go down substantially.  So buckle your seatbelts – it looks like things are about to get very, very interesting.

Posted below is a chart that shows what has happened to the price of…

Major Precious Metals Retailer: “We Have Been Experiencing Astounding Volume”

From SHTF Plan – When It Hits The Fan, Don’t Say We Didn’t Warn You

Were one restricted to watching just the paper market spots prices for precious metals, one might assume that there is major panic selling of gold and silver around the world.

A few days ago gold saw its biggest drop in thirty years, and silver was right behind it, leaving many investors concerned that gold’s decade-long run-up was nearing its end.

With all of this selling you’d think there’d be lines of panicked investors standing outside of brick and mortar local dealers and an overstock of precious metals at online retailers.

Curiously, it seems to be that exactly the opposite is happening. As the price of gold and silver collapsed to two-year lows, retailers in local markets and online have been scrambling just  to keep up.

A spokesperson for JM Bullion, a major online supplier of gold and silver to the retail market, suggests that they are experiencing unprecedented demand, all the while gold and silver prices as reported by the mainstream media have been “falling” precipitously:

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.

Gold is in much better shape. We have all of

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S&P 500 May Fall More Than 40% By Fall Says Chris Martenson in Interview with Lauren Lyster

From Mish’s Global Economic Trend Analysis

In another interview from the Wine Country Conference, Chris Martenson says S&P 500 May Fall More Than 40% By Fall.

Even though the S&P 500 and Dow Jones Industrial Average are hovering at all-time highs, Chris Martenson, author of PeakProsperity.com and the “Crash Course” Series, is forecasting a major market correction.

Martenson predicts the S&P could fall 40% to 60% to the 600-800
level by this fall. His last major market call was in March 2008, before
the financial crisis.

The Daily Ticker’s Lauren Lyster sat down with Martenson at the 2013 Wine Country Conference in support of Les Turner ALS Foundation to get his market and economic predictions.

“I see recessionary signs all over the landscape. In particular,
Europe is already in recession [and] Japan is already in recession,” he
says. “We are looking at global economic slowdown.”

As for corporate earnings, a
stronger U.S. dollar could bring down profits this year, Martenson
believes. Corporate profits currently account for 11% of GDP, which is
way outside the norm of 6% of U.S. growth. He’s also bearish on the U.S.
economy and sees weakness in sectors that have shown improvement like
the housing market.

“Fundamentally there always has to be some connection between where
markets actually are and their price,” Martenson says. He believes the
Fed’s monetary policy

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The Market Ticker – Senatorial Traitors Continue On Immigration

From The Market Ticker

Will someone stick a sock in the mouth of people like Rubio?

Sen. Charles Schumer, D-N.Y., appeared on the Senate floor around 2 a.m. Wednesday to file the 844-page bill. It is the product of weeks of negotiations among the Senate’s “Gang of Eight,” a bipartisan group that includes Schumer and seven others.

“This bill marks the beginning of an important debate,” Sen. Marco Rubio, R-Fla., said. “And I believe it will fix our broken system by securing our borders, improving interior enforcement, modernizing our legal immigration to help create jobs and protect American workers, and dealing with our undocumented population in a tough but humane way that is fair to those trying to come here the right way and linked to achieving several security triggers.”

The hell it will.

Just the fact that you’re talking about it has already led to a huge spike in illegal crossings from Mexico.

The fact that we already allow illegals to obtain various benefits from the public trough, including but not limited to access to educational resources that we all pay for but they do not, is among the problems.

The fact that we already allow them to show up in a hospital and get “emergency” care, where if you try that crap in Mexico you won’t only get tossed out you might get arrested, is also part of the problem.

The fact that there are millions of Americans who are (1) on welfare and (2) can work,…