The Swiss Gold Initiative

When we first wrote about this, we actually caused a bit of a stir but the primary vote on The Swiss Gold Initiative was still over six months away. Now, with the date of the vote rapidly approaching, it is time to begin reviving this issue.

Interest is beginning to build, awareness is growing and the date of the national referendum has been set. Later this year, on November 30, the good people of Switzerland will finally get an opportunity to make their voices heard. The Swiss Gold Initiative can be roughly stated in three parts:

  1. The halting of all Swiss gold sales
  2. The repatriation of all Swiss gold that is held in foreign vaults
  3. Resume backing the Swiss Franc with gold, at a minimum level of 20%

Of course, the politicians and bankers of Switzerland are squarely against this initiative as it greatly diminishes their hold on power and restricts their ability to continue to debase the Franc. Fortunately, as one of the world's few remaining democracies, the Swiss people have an opportunity on November 30 to directly affect a change. For their sake and for the sake of their posterity, I pray that they choose wisely.

As this issue comes to the forefront this autumn, you will need to be aware of the circumstances surrounding the vote. So, below you will find a few background links and, ultimately, a re-print of the seminal article that we first posted here back on May 12. Please take the time to review this information. We must do everything we can to help warn and educate the good people of Switzerland before the vote is taken.

First, here are two bits of background from earlier this year. From former US Budget Director David Stockman we have this: http://davidstockmanscontracorner.com/switzerlands-keynesian-bureaucrats-panic-at-gold-initiative-to-yoke-central-bank/

And from the FinancialSense website, we have this interview of Luzi Stamm, who is one of the Swiss parliamentarians behind the initiative: http://www.financialsense.com/contributors/luzi-stamm/swiss-gold-initiative-revolution-europe

Last week, Swiss money manager Egon von Greyerz brought the issue back to our attention and I urge you to take a moment to read this brief commentary: http://goldswitzerland.com/swiss-to-vote-on-gold-repatriation-in-november/#more-16773

Finally, here's the link to the article we first posted back in May. If you are Swiss or personally know any Swiss citizens, please consider forwarding this link. It is imperative that we do everything possible to see that this initiative passes, not just for the good people of Switzerland but for freedom, liberty and sound money advocates everywhere. http://www.tfmetalsreport.com/blog/5731/turdville-love-open-letter-good-people-switzerland

TF

"From Turdville With Love; An open letter to the good people of Switzerland"

I hate to be the bearer of bad news, Switzerland, but what you suspected all along is actually true. Your gold is gone. All of it. Leased and sold away by your central bankers and politicians.

As recently as 1996, the Swiss Franc was considered "good as gold". Why was this the case? Since the early 20th century, the Swiss Franc had offered a reserve backing of gold. This uniquely sound currency had given the country of Switzerland considerable financial power and independence, yet, at the urging of their politicians and central bankers, the Swiss willingly forfeited this enviable position.

The demise of the Franc and Swiss sovereignty began in 1992 when the Swiss made the fateful decision to join the International Monetary Fund (IMF). The IMF's Articles of Agreement (Article IV, Sec 2b) clearly state that no member country can have a currency linked to gold and, as such, Switzerland immediately set out on a course to de-link the Franc from gold. Just four short years later, the Swiss National Bank (SNB) and the Swiss government had formed a plan to eliminate the Franc's gold backing and, in March of 1997, a revision of the Nationalbank Act was passed and all links of gold to the Franc were removed. Further, since the Swiss constitution mandated sound money, it had to be amended, too. Thus, in a hastily organized vote, a new Swiss constitution was approved in May of 2000. (http://www.efd.admin.ch/dokumentation/medieninformationen/archiv/00382/index.html?lang=en) This served to finally and permanently sever the Franc's gold backing and initiated the Swiss into the world of global fiat currency.

The SNB has spent the 14 years since leasing and re-leasing the country's gold reserves. In 1999, the SNB reported gold reserves of 2,590 metric tonnes. The most current "audit" of SNB reserves showed just 1,040 metric tonnes of gold remaining on the balance sheet and I believe that none of this is actual, physical gold. Instead, what the SNB holds are paper claims and promissory notes. The remaining 1,040 tonnes has been sold and re-sold into the marketplace by greedy bullion banks, intent upon suppressing price through the leverage of paper metal futures contracts and rehypothecation. In other words, the "gold" that the SNB claims to hold/own on behalf of the Swiss people is gone. This makes the Swiss people just another bagholder, certain to be left in line wanting with all of the other holders of unallocated accounts when the fractional reserve bullion banking system inevitably collapses.

Furthermore, I've come to the conclusion that it was this last bit of Swiss gold that was utilized to suppress and manipulate price away from the alltime highs of September 2011. What makes me think this? Let's start with a history lesson...

Again, the Swiss officially forfeited their birthright of national independence and sovereignty when they joined the IMF in 1992. Then, by formally de-linking the Franc from gold in 2000, they accepted full membership into the clique of fiat currencies. Regardless, and perhaps just by tradition, the Swiss Franc was still considered a "safe haven" currency as late as 2011. But that's when things got out of hand.

You recall 2011, don't you? Under the weight of $600B worth of QE2, the U.S. Dollar Index was collapsing. From a high near 90 in mid-2010, it had fallen to near 73 by the spring of 2011. Shortly thereafter, the U.S. fiscal situation began to wobble as "Debt Ceiling" negotiations took place in Washington and the U.S. credit rating was downgraded by Standard & Poor's. The ensuing political rancor drove gold from $1500 to $1900 in eight weeks. Also catching a bid in this "safe haven" trade was the Swiss Franc and, in the summer of 2011, it also rallied over 20%.

"We can't have this!", screamed the Swiss Keynesians. "Something must be done or our export-driven economy will suffer", they warned. So what happened next? The SNB went ALL IN.

In the wee hours of Tuesday, September 6, 2011, the SNB announced a permanent and horrific change to the Swiss currency. Henceforth, the Franc would be linked/pegged to the Euro. No more safe haven bid. No more national sovereignty. Going forward, the Swiss were all in. Their fortunes had been officially tied to the fortunes of the European Union, for better or for worse. At this point, there was no further reason to hold any gold in reserve. Why would the Swiss need it? Their currency was now officially fiat and it's value was permanently pegged to another fiat, the Euro. What purpose would gold serve going forward? As the Keynesians say, it had become "a barbarous relic".

Left as the sole remaining "safe haven", one would have expected a huge rally in gold on 9/6/11, likely moving price up and through $2000/ounce from the weekend close near $1920. Instead, with the same counter-intuitive move to which we've all grown accustomed in the time since, gold was raided and price was smashed. Here are some flashback c&ps for you. First two charts from 9/6/11 and 9/7/11 showing the unusual price action:

And, as you might imagine, I was actively chronicling these events on this site. Here's a sample from Wednesday, Sept 7:

"I think it's quite clear now why gold responded yesterday in the opposite direction from what you would have expected. With central banks actively managing a debasement of their currencies, we are now seeing them also attempt to actively manage a debasement of gold, too. Be careful. Be very careful.

We all wondered yesterday why gold would plunge on the SNB news. Now we know. In an attempt to mitigate the "negative" effect on francs priced in gold, the SNB sold a massive amount of gold futures at the same time. How do we know this, because it appears that the same thing earlier today.

Yes, that's 7,000 contracts (700,000 ounces) (nearly 22 metric tons!) dumped on the Globex while London and NY are closed! This should also raise your deja vu spidey senses regarding silver in May. The $ drop in silver was greater because the silver market is considerably smaller. However, it's the same strategy. Maximize the downward impact and collateral damage by executing the attack at a time of minimal liquidity. This all wreaks of malicious manipulation. If you are trading, be prepared for anything."

And there you have it. Speculated upon at the time and again here in this post: The SNB is the culprit. It was the remaining SNB gold that was leased and dumped onto the market in late 2011, shoving price back from the record highs and smashing gold for nearly $400 in a little over three weeks. What was left of the Swiss gold was then leased to bullion banks throughout 2012 and the first half of 2013. Physical demand only increased, however, and that remaining Swiss gold has now been delivered to China and points East. Yes, the SNB still shows this leased gold on their balances sheet as an asset. Most every other western Central Bank utilizes the same accounting gimmick. Instead, it should be listed as a liability as the actual, physical underlying is no longer there. It is...gone for good.

Sensing this, a movement has begun in Switzerland to reclaim their sovereignty and birthright. The Swiss People's Party (SVP), which was the only major party voting against the new Constitution back in 2000, began an initiative last year to re-enforce a gold backing to the Franc. After collecting more than the requisite 100,000 signatures, a national referendum on the issue is planned. First, however, a vote was held last week in Swiss parliament. This procedural vote is basically a "recommendation" from Parliament, designed to impact the eventual, national vote. Here's how Bloomberg described it in an article dated May 5:

SWITZERLAND (BLOOMBERG) - >

Swiss parliamentarians urged rejection of a popular initiative that would curtail the Swiss National Bank’s independence by requiring it to hold a fixed portion of its assets in gold.

Members of the Swiss parliament’s lower house voted 129 to 20 with 25 abstentions today against the plan, which demands that at least 20 percent of the central bank’s assets be in gold. It would also disallow the sale of any such holdings and require all SNB gold be held in Switzerland.

No date for a national vote has yet been set. The government in November also recommended the initiative be opposed, saying it would impinge upon the SNB’s ability to conduct monetary policy. Parliament and the multi-party government issue recommendations on all national referendums as a matter of procedure.

Of course! How could anyone, in their right mind, be in favor of this:

  1. Demanding that at least 20% of your central bank assets be in gold
  2. Disallowing any sale of said gold
  3. Require repatriation of all foreign-held gold

Don't you silly peasants know what's good for you? By making these demands, you "impinge on your central bank's ability to conduct monetary policy" and "curtail the SNB's independence"!

Then, check this out, also from the same Bloomberg story. Last year, even Thomas Jordan, the head of the SNB, got in on the act:

"SNB President Thomas Jordan took the extraordinary step of commenting on politics last year when he urged rejection of the initiative, saying it would crimp the Zurich-based institution’s independence and force it into “large-scale” purchases to meet the required 20 percent threshold."

Hmmm. "Large-scale purchases", just to get back to the 20% threshold? Well, that's interesting, now isn't it? And what about this repatriation requirement? Why should that be a big deal? The SNB currently provides this list of its gold storage:

  • 70% (728 mts) of the gold is already held in Switzerland
  • 20% (208 mts) is held at The Bank of England
  • and 10% (104 mts) is held at The Bank of Canada

I can't speak for the 104 metric tonnes held in Canada but the Swiss people should be very nervous about the gold the SNB allegedly stores in London (http://www.tfmetalsreport.com/podcast/5678/empty-vaults-london). Also, the SNB has been reticent to discuss where in Switzerland their gold is stored. Could this be because the "gold" is stored with the Bank of International Settlements for easy distribution and leasing? And where is the BIS? It's in Basel, of course. And where is Basel? It's in Switzerland!! How about that??

Look, I'll cut the chase here to save some time. Here's the "open letter":

To the good people of Switzerland:

You have been scammed and sold down the river. Your politicians and bankers, in a pathetic attempt to consolidate power and curry favor with the EU, have given away your independence and your historic sovereignty. You should be angry.

The initiative you have taken and the referendum you have planned are all well and good. I applaud you for taking these steps within the context of Swiss law and tradition. However, you must understand what is truly at stake and if you don't take more powerful and forceful acts soon, the likelihood of you ever regaining your birthright as an independent, sovereign nation is slim.

The next steps you undertake must include these:

  • Demand an immediate and full, independent audit of the SNB gold reserves. This is your gold, not the SNB's, and you should be allowed a full accounting.
  • All Swiss gold that is held domestically must be held in Swiss-owned bank vaults, not at the BIS.
  • Demand an immediate repatriation of all foreign-held gold. Do not accept excuses regarding "logistics". Give the BoE and the BoC no more than 90 days to return your gold.
  • Immediately de-peg the Franc from the Euro and divest yourself of all accumulated Euro holdings. Ignore the Keynesian shills who would have you believe that a strong currency is bad for economic growth.
  • Use the process of divesting yourself of the Euro to accumulate and rebuild your gold reserves. Then, use these reserves to once again partially back your currency.

The world is rapidly changing and tomorrow will not be like yesterday. The current global financial system, based upon promises, debt and unlimited fiat currency will one day soon by replaced by a system that returns the world to a sound money platform. The monetary powers of the 21st Century will come to the forefront by virtue of their accumulated reserves of sound money, not by their addiction to easy money.

You, Switzerland, still have time to act and prepare but you must move quickly. The possibility exists for you to reverse course and demand change but time is short. The end of the great Keynesian experiment is upon us. Reclaim your gold and your sovereignty now or be forever consigned to the trash heap of fiat currency history.

Faithfully submitted with all sincerity,

TF

153 Comments

silver66's picture

first

my lucky day

just finished reading Ferinand Lips Gold Wars again on the plane last night, how appropriate that this is posted today

Silver66

gold slut's picture

£60:00 a year

No one could ever say you don't give value for money Craig!

Turd Ferguson's picture

Excellent

MODERATOR

Always good to break it out and review it from time to time. 

Maybe you should ship a copy to Doug Casey?

Response to: first
Turd Ferguson's picture

Thank you

MODERATOR

All in a day's work. smiley

Response to: £60:00 a year
silver66's picture

Gold Wars

Turd the edit button has disappeared

Here is a link to pdf of the book

http://www.fame.org/pdf/Gold%20Wars%200-9710380-0-7%20%20-%2001.21.02.pdf

It is interesting what he said would happen in the book and what has happened as time has passed since his writing

Silver66

AlienEyes's picture

Magnum Opus

Great work !  yes

Quisp's picture

Re: Magnum Opus

California Lawyer's picture

Mr. TF, Thank You for This Post, Excellent!

I did not get a chance to get my weekly post done, as I was buried with deadlines and work.  I wanted to chime in on what I see both anecdotally, and from sifting through the many pundits and fiat chartists.  Your post ties together nicely with this below.

Zerohedge posted a story today, which has a quote so apt and pithy, that I HAVE to post it, as it tells the entire story of our (Western fiat currency) situation, beyond dispute:

"[C]orporations have been using exceptionally low interest rates to borrow capital, not for the purposes of ramping up production and capital investments, but to buy back stock to artificially boost profits per share. The focus on share buy backs has been intense over the last couple of years as the benefits of cost cutting, employment reductions and wage suppression met their inevitable limits."

This shows, clearly, where all of that free FED fiat has been going.  This explains why there have been no jobs created despite massive, unprecedented injection of billions and billions of fiat dollars into the big banks.

Instead of using the cash to build manufacturing facilities, or buy equipment, or do research and development, or any engage in any traditional capital expenditure that would provide a return on a long term time horizon, executives at the big corporations were simply focused on the short term, selfishly, using free money, leveraging it up, and buying back their shares, driving up their share prices and creating the illusion of economic prosperity.  This was done not to create long term wealth, but for short term gain which returned giant compensation incentives in the short term for those executives.  None of this would be possible on a gold standard, and all of this is fake, illusory, and will reach its finite limits in a 100% certain collapse.  

The FED cannot remove the punch bowl now, or ever.  Gold and silver are the only safe havens.

This also means that there can be no sound money, even partially-backed by gold, because then fiat, worthless currencies will lose value and the confidence game will be visible for all to see.

If ever there were a time for TPTB to initiate a false flag operation, it is between now and that Swiss vote.

goldcom's picture

Hmmm, what about those Swiss Refineries

They must have some interesting evidence of what went on here. Some information about the inflow should have leaked out to the locals or the BIS was careful enough to send it to other refineries.

I never put that together, the BIS being Basel and the volumes I've read about going through the Swiss refinery. Working 24/7 for years now and how it has been more difficult than ever to fined gold reported by a refinery official there that has been in the business for 37 years.

Those that work in the refineries certainly see the identification on the bricks and stock they remelt and I'm sure that is company policy for workers not to divulge that information but that usually only goes so far. If the Swiss refinery workers are watching their country's gold going through the process I just can't believe there aren't some interesting stories. 

gold slut's picture

The poor Swiss...

They had better watch that vote process like hawks, because as Stalin said "it's not who votes that counts, it's who counts the vote that counts."

If they do end up winning the vote, the best they can expect is to see their PTB delaying and kicking this into the long grass for ever more.  That is when they will realize that they have not only lost their gold and sovereignty, but their democracy as well.

The worst they can expect is if they really do get their way and their demands are implemented.  I say this because any state standing up to the IMF, or the Fed and the Fiat currency mobsters, is going to find a world of hurt.  Just ask that Mr Putin, or Libya, or Iraq, or Syria, or Iran or Ukraine....

silver66's picture

gold slut--the poor swiss

I think the Swiss are slow to anger, but when aroused I suspect the politicians will be terrified of the Swiss population. Based on their history I think they can handle things better then us here in North America.

http://en.wikipedia.org/wiki/Swiss_mercenaries

silver66

The Vet's picture

A curious comment for a banker to make in the circumstances..

"it would impinge upon the SNB’s ability to conduct monetary policy".

What independence or ability to conduct monetary policy does a central bank have when it's currency is slavishly forced to follow that of another, set and controlled by the EU central bank with no regard to the requirements or best interests of the Swiss?

gold slut's picture

silver66 - The poor Swiss

They have been duped, controlled, robbed and have handed over their sovereign monetary control to the EE.  And what have they done about it? They are hoping to be allowed a vote.  

They have lost the battle before they even woke up to the fact it had begun.

What you say is spot on, but for the Swiss of sixty years ago.  It makes me sad to see such a proud nation sink so far.

RockerBoxer's picture

Helvetia is naked, votes are

Helvetia is naked, votes are won by paper franks.

images?q=tbn:ANd9GcRZPgUHC_H0GzCtDbeC9tM

Who is that dude? smiley

fiat art of the great master baiters, central banking 101.

gold slut's picture

Helvetia

Why they heck would any nation want a picture of Mick Jagger on their money??

Well, the could have had Elvis, no?

Markedtofuture's picture

The MOAMOPE

James C. McShirley

The advent of computer generated trading algorithms heralded a quantum leap forward in the quest for 24/7 control of markets. No longer were humans beings required to do such unseemly things as man trading desks or worry a whit if free markets were, if even infrequently, attempting to function. Algo precision has made even the blackest of black swan events seem to turn lily white in their utter non-eventfulness. No more significant Dow or bond crashes, and best of all, no gold rallies exceeding (exactly) 1.00%, or the occasional 2.00%. Algo sentinels now stand in a permanent state of vigilance, keeping MOPE alive. (MOPE is what Jim Sinclair refers to as "management of perspective economics".) Market manipulations and control of gold trading are what I have documented now for over 15 years. Many of these manipulations are well-worn, tried and true. Nearly all have intensified over the past 3 years. It seems as if one could throw a dart on a trading dartboard and hit an anomalous trading pattern nearly every time. Even with that said, I was stunned to stumble on to the biggest trading anomaly of all: the MOAMOPE - the mother of all management of perspective economics.

MOAMOPE is quite simply the stunningly high percentage of lower opens on the 6:00 PM silver access trade open. Perhaps some have noticed the oddity in the form of a Kitco 3 day chart.

A.gif 
Look familiar? It should, it’s happened 621 times in the past 3 years.

Virtually every evening for the last 3 years at precisely 6:00 PM EST something very odd has happened: Comex silver offers swamped the bids to the tune of a 3-10 cent decline. For this to happen for three consecutive weeks would be strange. If it were to happen for three straight months it would be bizarre. MOAMOPE can only describe when it occurs for three straight years. It's a veritable Algopalooza! Silver has had a near-iron clamp imposed on it commencing with the access trade reopen. How severe is this iron clamp? From September 1, 2011 to the present, 621 out of the 744 6:00 PM access trade opens have been lower. All manipulation denialists take note: that's an astounding 83.5%.

B.png
Legitimate hedging? Yeah, right. Ya think maybe deep pockets with algo sophistry?

The pattern is consistent, pervasive, and relentless. For 36 straight months not ONE month has had a greater number of higher opens than lower. Amazingly 35 out of 36 were between 80-95% lower, and the lone outlier "only" had 67% lower openings. The pattern was irrespective of rising or falling silver prices. From January 1st to February 28th of 2012, for example, silver rose $9.28, going from $27.86 to $37.12. That's a whopping 33% gain! During that time, however, 34 out of 42, or 81% of the 6:00 PM access trade opens were lower. It was a bull market in silver in the context of a raging bear market in access trade opens. The MOAMOPE was in all its glory!

Selling the 5:30 PM access trade close MOC and then covering 2-4 minutes after the 6:00 PM reopen has been a license to print fiat money for those willing to shadow cartel behavior. Even a 1-lot trade over 3 years could have netted someone $70-100k on a measly 3 cent scalp. The unusually high percentage of lower access opens is actually far worse than it looks, since the few higher opens for the most part faded as the evening wore on.

The trend of lower silver access opens has actually accelerated in 2014, with 134 lower openings vs. only 14 higher openings, a 90.5% probability. More recently 80 out of the past 84 have been lower, with the past 24 in a row having been lower. This despite silver being virtually unchanged from January 1st to the present.

C.png 
Only 14 higher openings in all of 2014 - with silver virtually unchanged from Jan. 1!

There have also only been 4 significant gaps higher on the 6:00 access trade open since the beginning of 2013 - all of which quickly faded. Why the lockdown on silver? Why such extreme treatment for a seemingly minor commodity market? Why has silver been constantly bludgeoned to death with the CME’s margin hammer? Why the silence on such blatant manipulation? The only logical answer is that to NOT do it would be tantamount to disaster for “the force”, or the “resolute sellers”, or whatever the hell the polite crowd is calling it lately. Call me impolite, but I'll just call it the MOAMOPE.

Time researching the MOAMOPE: 20+ hours. 
Compensation: Zilch. 
Satisfaction proving once more that manipulation denialists are disingenuous phonies: Priceless.

D.JPG
A denialist reporting on gold and silver trading.

James C. McShirley
August 23rd, 2014

Dr. P. Metals's picture

I personally

Don't place any weight on a Swiss "vote" lol

even if a "vote" occurs the banksterswill decide a way around it, delay it, etcetc for YEARS as this is such a slow moving event to drag for years that they can just steer around it.

and I might ask: when EVER in history have banksters voluntarily given up control over money or gold by a vote from the commoners? Rofl 

the only way they ever give up anything is via sudden unpredictable and usually very forceful events they can't just plan, stall or delay around.

meh, this is just all hot air (this Swiss vote stuff)

PS this iPhone spell checked had gotten extraordinarily defensive about letting me type BANKsTERS without it complaining. It apparently doesn't like that word

Turd Ferguson's picture

Absolutely fantatstic

MODERATOR

ALL PLEASE READ the comment above re Mr. McShirley.

Response to: The MOAMOPE
FreddyKrugerrand's picture

@ Gold Slut

Why they heck would any nation want a picture of Mick Jagger on their money??

___________________________________________________________________

I thought it was a picture of Alec Baldwin!

kryton619's picture

The Light Turned On

I haven't suggested to anyone in quite some time to purchase PMs. I am sure most of you have in the past done so only to hear about it later after prices get smashed. Earlier this year I was having lunch with one of my customers who mentioned that he was seeing strange things in the financial world. Well the conversation moved to PMs and he listened intently on what I had to say. At the end of lunch he asked if I could provide him with any reading materials. I sent him over a stack and didn't think anymore about it.

On Thursday he asked if we could meet that day. He asked me if I thought now was a good time to buy some silver and gold. I loaded up Turk's latest charts and showed him the resistance lines at $19.20 and $1280 and told him that was why I made a purchase earlier in the day. He asked where I purchased it from and asked if I trust them.

He phoned me last night to tell me that he purchased 25 Oz of gold and 3000 Oz of silver.

I am happy for him and hope we have a rally starting in September. It is a great experience to see the light turn on inside someone when they start to see the financial system for what it is. BTW.. It was my recommendation that he watch the Mike Maloney video series that put him over the edge.

Dr Jerome's picture

McShirley article

That tiny .03 to .10 decline every evening is not tradable, as far as I can tell. That's not enough to move futures prices enough to pay the commissions. Markets are closed for trading any instruments on the NYSE.

Brilliant strategy! Manipulate just a few cents per day at off hours so that nobody can take advantage of the  regularity. I'd love to see a statistical test (a t test which compares two means) that provides us a p= < .05 result that would silence deniers once and for all. I do not have the expertise to run the test or to collect the data from the "before" and "after manipulation begins" period.

Great article. I am tempted to post it over at another beloved website.

AlienEyes's picture

@ kryton619

My only problem with silver is it is not so easily transported as gold. I call it “value density”.

IF we are on the verge of a dollar collapse, we will almost certainly find a new law on the books against the transfer of certain assets out of the U.S.A. These assets would certainly include gold and probably silver as well. Gold jewelry has in the past been an exception. I’m not saying that any of us turdites would want to circumvent such a law.... but we would.

smiley

The FED and government (IRS) are currently using the doctrine of, “You own it, but we own you”. Each of us will, sooner or later, need to sort out the true value of being a US citizen.

Marchas45's picture

Well I Just Checked In

With my stack this evening just before dusk which has been under cover for a while and a little damp, man has it grown. Lol I couldn't remember what I had but I had some surprises show up that I forgot about. Keep Stacking folks, it mounts up. LMAO

Kansascrude's picture

Great Post McShirley thanks for sharing MTF

I remember thinking to myself just a few nights ago is anyone freaking alive today thats seen the 6:00 pm open up!  I know that was an exaggeration but thanks for the data.  Freaking incredible and Dr. J seems to me the penny robbing strategy is alive and well in the mining sector too.  Watching the close each day is pretty much the same smack down +80% of a few cents to nickel like clockwork.  Sometimes wonder if the market makers are complicit too as the final close is adjusted down at the same percentage.  Its criminal and brilliant what else is new with these shatheads.  May they ROT IN HELL!

Picked +18 gallons of pears in the last 24,  Friends over and nice to see a good crop with much more to get but the easy stuff is picked.  Will keep going Dr. of Chemistry at WSU is breaking out the champagne yeast and if going to make a batch or two.  We have been working on a still maybe some pear brandy too!  Seckel pears also known as candy or sugar pears.  My best crop in 24 years here.  We haven't even put a good dent in the crop will have to see if we can keep up the harvesting and processing.  Eggs, Cantelopes, grapes, tomatillos, tomatoes, green beans, Zukes,  Jams, Salsa's and peppers  shared around today.  BUT gotta to say looking forward to the hooch. Shame on me!  Best of Saturday to  us all.

I Run Bartertown's picture

AE

"The FED and government (IRS) are currently using the doctrine of, “You own it, but we own you”. Each of us will, sooner or later, need to sort out the true value of being a US citizen."

Well, in all fairness to them, they ARE trying hard to increase the value of remaining a US Citizen...if only by increasing the COST of trying to give up US Citizenship.

AlienEyes's picture

@ I Run Bartertown

Absolutely !!!

I wonder what they know and have no intention of telling us.

Occasnltrvlr's picture

To Anyone Considering Alternatives

Please don't ever forget that anyone leaving someplace must have someplace else to go.

The tremendous upside to the US Passport is that it opens doors world-wide pretty easily.  The downside is that it belongs to the US Dept. of State, and is now controlled electronically.

The Senate version of the recent federal highway funding bill contained a provision to REQUIRE the US Dept. of State to suspend the passport of anyone ACCUSED of tax evasion.  (The House version, without the provision, was passed without changes.)

If the passport is "annulled", there go those numerous visas-on-arrival that are oh-so-convenient.  (And, of course, commercial air carriers won't let one board without the necessary documentation for entrance upon arrival.  No passport -> no visa -> no leave on commercial airplane.)

Just a suggestion:  if you're serious, be getting serious.

philipat's picture

@TF and Casey

Yes, Doug Casey is an interesting situation, even the more so because Ed Steer, who works for a certain Organisation known as "Casey Research", writes constantly in his widely-read reports about PM manipulation by The Cartel and The Fed.

This seems to me to be a highly questionable situation where the left hand, apparently, does not know what the right hand is doing. Not a confidence-inspiring advertisement for any Organisation.

Instead of sending Casey that book, maybe it would be better to ask Ed Steer to have a quiet chat with his boss??

GuerrillaCapitalist's picture

That's Not Mick

The fucker bears an uncanny resemblance to Gene Simmons of KISS fame. We enjoyed a fun, goofy movie on Netflix, "Extract" and Gene Simmons was a minor player, watch the flick and then compare images.

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