Feds 99 years lease was amended to perpetual or until the congress votes to abolish the Federal Reserve, and we know how tall of an order that would be for those sh-t haids inside the beltway. 

I'm not sure why I can't post images here, but I think the monthly gold chart, going back all the way to early 2001 (here: http://screwtapefiles.blogspot.com/2012/05/sunday-pre-game-562012.html ) is worth looking at. It shows how atypical the past several months have been. For the entirety of this trend upwards, there hadn't been more than 2 red months in a row. Even during the cataclysmic seeming action of mid-2008. Now we've begun the fourth red month. Still, the monthly drop has been very controlled. Also note that there have been two instances of 5 out of 8 months red. Both marked very important bottoms. Well, 5 of the last 8 months have been red. The 21-month MA at $1561 should hold any further drop, IMO.

My TP stack was a Texas sized stack - well over 500 rolls at one point.

My wife was frosted to lose all kinds of cupboard space. I've since relented on the buy side, and the stack is whittled down to about half that now.

But if I see a good TP sale I still chomp at the bit to BTFD.

500!  the mind boggles!

Has anyone noticed how bright the moon is tonight?

Just came in from outside and had my small telescope out. Wow, was that bright!

I also saw Venus partially eclipsed. I'm still not sure by what, but it was fairly low on the horizon.

I find it hard to believe that people as intelligent and observant as they are unaware of the manipulations that are taking place in the areas of their expertise (i.e. resource stocks, miners, precious metals). I think that they've figured that it would be bad for their businesses if they talked about it openly. The only other possible explanation is incompetence and neither of them strike me as such.

@Indigo

Saturday's event is a "supermoon," the closest and therefore the biggest and brightest full moon of the year. The moon will come within about 221,802 miles (357,000 kilometers) from Earth. That's about 15,300 miles (24,600 kilometers) closer than average.

Some dislike the tunes about which I am ambivalent but I really appreciate the 'toons!

Thanks so much for yours,Dr. J!

Clinkin, Clinkin....can you hear me now?!!?

Many Thanks, Guys!

I used to have an account with them (i.e. they were the clearing agent). I got out last year based on the scary chart they had. I am praying for those that are still stuck there that it all works out for them and that they can recover their property as smoothly as possible.

Thanks Indy.  I'm in the west.  Still light here - waiting for sunset...

Good run though,you got close there.

In Zimbabwe you've come up with the most freakish, unfortunate and temporary example of gold being used to barter for consumables. There is no similar case in any other modern hyperinflation, like say Argentina, Mexico, Russia, Serbia, Hungary and so on. 

Now I know you like to mock me and others who suggest precious metals are not going to return as currency, but perhaps you'll listen to Hayek - a man who knew a thing or two about money:

"I do believe that if today all the legal obstacles were removed… people would from their own experience be led to rush for the only thing they know and understand, and start using gold. But this very fact would after a while make it very doubtful whether gold was for the purpose of money really a good standard. It would turn out to be a very good investment, for the reason that because of the increased demand for gold the value of gold would go up; but that very fact would make it very unsuitable as money. You do not want to incur debts in terms of a unit which constantly goes up in value as it would in this case, so people would begin to look for another kind of money: if they were free to choose the money, in terms of which they kept their books, made their calculations, incurred debts or lent money, they would prefer a standard which remains stable in purchasing power."

I can just imagine the howls of protest: "Hayek is a paid shill!" Well, Freddy isn't trolling and the central bankers and international technocrats crafting our future monetary system understand his point well. Precious metals will not be returning as currency.​

One thing worth noting is that the use of gold as currency inevitably leads to gold lending and credit expansion, which subsequently causes an undervaluation of physical gold. Gold as a savings asset alone is what will guarantee its unfathomably large monetary premium, sufficient to balance international trade.

Larry White of George Mason University talks with EconTalk host Russ Robertsabout Hayek's ideas on the business cycle and money. White lays out Hayek's view of business cycles and the role of monetary policy in creating a boom and bust cycle. The conversation also explores the historical context of Hayek's work on business cycle theory--the onset of the Great Depression and the intellectual battle with Keynes and his work. In the second half of the podcast, White turns to alternative ways to provide money, in particular, the possibility of private currency and free banking explored by Hayek late in his career. White then describes his own research on free banking and in particular, the more than a century-long experience Scotland had with free banking. The podcast concludes with the economics rap "Fear the Boom and Bust," recently created by John Papola and Russ Roberts. The song itself can be downloaded at EconStories.tv where viewers can also watch the video, read the lyrics, and find related resources on the web for Keynes and Hayek.

Larry White on Hayek and Money

Top 5 Hyperinflation Horrors

During my seminar titled ‘Why Gold & Silver’, I talk about the massive money printing of the world that causes the rising cost of food and fuel and how it is affecting our lives. When I start talking about hyperinflationary possibilities, many people start questioning if it is possible for such scenario to happen. Now, if you think that what I’ve been sharing is extreme, I want you to keep in mind that hyperinflation has already happened in over 30 countries in the last 100 years alone. Here is the top 5 Hyperinflation Dooms Day that have occurred over the last one century.

5. China

Year: 1948 – 1949

Inflation Rate: Maximum Monthly Inflation Rate was 2,178% in May 1949.

What Happened?

China’s nationalist government took over the nation’s banks and switched from silver standard to fiat currency. It then used the currency to monetize its debt. China continued printing more and more money during the war with Japan.

How It Ended?

A revaluation saw 1 New Renminbi equal of 10,000 of the old currency....

http://www.jonathan-quek.com/?p=8743