Comes as no surprise, peak fraud.

1. Control the media - In that way most people will only hear what they are allowed to hear. If 1000 new oil wells were discovered last year, how would we know.

2. Control Oil production - A few big corporations dominate oil exploration and production. So how do we really know how much oil there really is? They have a vested interest in getting top dollar for it, so why would they ever let the market know how much of it there really is.

The Nazis managed to fight two super powers using an oil powered war machine. They only had Romanian oil, and a process (given to them by US corporations but that is another story) for making synthetic crude from coal.

Now that is a lot of crude. But after the war the technique fell into disuse. Given the amount of cheap coal there is in the world this seemed strange.  To the trained monkeys who scream "conspiracy theory" whenever one of the worlds major resource issues looks like being solved nothing to see here. Except.

Oil From Coal

Researchers at the Unviersity of Texas at Arlington say they’ve found a practical way to make synthetic crude from inexpensive coal that’s common in Texas.

People have been turning coal into oil for 100 years or more, but researchers at UTA say they’ve invented a better way to do it.

It is so much better that they expect to sign a deal with an oil company within weeks.

“This is East Texas lignite coal. We go from that to this really nice liquid,” said Professor Brian Dennis of a light synthetic crude, easily refined into gasoline.

Oil From Carbon Dioxide using Bacteria

In September, a privately held and highly secretive U.S. biotech company named Joule Unlimited received a patent for “a proprietary organism” – a genetically adapted E. coli bacterium – that feeds solely on carbon dioxide and excretes liquid hydrocarbons: diesel fuel, jet fuel and gasoline. This breakthrough technology, the company says, will deliver renewable supplies of liquid fossil fuel almost anywhere on Earth, in essentially unlimited quantity and at an energy-cost equivalent of $30 (U.S.) a barrel of crude oil. It will deliver, the company says, “fossil fuels on demand.”

The punch Line

Capital control requires control of raw materials and therefore energy. Without this control,  tax income to government would vanish. Big government has grown used to big income and big power. So it will not willingly allow anything that would limit or reduce that power.

The question is not, are there answers to the issues of Food, Energy, Health and productivity. The question is, will they be allowed to be implemented?

The Great Shock

The great shock is that the Federal Income tax is unconstitutional. There is no law on the books stating that citizen's of the US must pay income tax. Many American's were probably know this as they saw Aaron Russo's film "America, Freedom to Fascism".

Given taxation is the crux of the reason why governments resist cheap oil, I suspect that new oil sources will never be allowed.

I'm not sure if this has been posted previously, didn't see it (apologies, if it has).

From the sounds of this piece, I'm starting to get the feeling that action on Iran (regardless of causes, position, who's to blame, etc) is likely to take place before November elections. For what it's worth ..

Barak: A nuclear Iran is taking shape before us. Time for decisions is short

DEBKAfile Special Report August 9, 2012, 2:15 PM (GMT+02:00)

Tags:  Ehud Barak   Iran nuclear   US-Israel   Intelligence   Syria   Egypt 

Defense Minister Ehud Barak

Stout refutation of reported disagreements over the military option against Iran’s nuclear program between the US and Israel, and himself and Prime Minister Binyamin Netanyahu, took up most of a long radio interview given by Defense Minister Ehud Barak Thursday, Aug. 9. He explained that US and Israeli intelligence essentially see eye to eye on this matter and so do he and the prime minister.

Original Article is Here

...DOJ too busy "looking into this".

----------------------------------------------

City officials pull the plug on vibrator giveaway, leaving thousands dissatisfied

They must have rubbed Mayor Bloomberg the wrong way.

City officials pulled the plug on a vibrator giveaway by the Trojan condom company yesterday, disappointing potentially thousands of pleasure-seeking women who hoped to get their hands on some no-cost sex toys.

“I’m 57 years old. I should be able to get a vibrator!” declared Linda Postell, who was among hundreds of women (and men!) waiting in the heat on Pearl Street only to be left unsatisfied. “I have a problem with the smoking ban, and the soda ban — and now this!”

Trojan sent tingles of excitement across the city when it announced the giveaway of some 10,000 vibrating sex toys from hot-dog-style pushcarts.

So I started the SRS bashing with my joke about goat milk enemas. Enemas seem to be on his mind. He mentioned them again in another post.  He did leave out the goat milk part for which I am very grateful.

What I don't understand is why others are bashing him.

He labors to provide us with information we will not get anywhere else.

His analysis is well written and well researched.

He is thought provoking.

I believe he is a kind person, otherwise why go to all the work of writing and posting the information he is finding out about the mining sector?

What am I missing here????????????

Perhaps it is that the bashers are in need of an Alpine Goat Milk enema?

(Alpine's have nasty  tasting milk. Not to be confused with Nubian  Goat Milk.)

Seriously, I don't get the criticism.

Is this good ? (sarc)

http://www.rte.ie/news/2012/0810/bank-of-ireland-reports-h1-loss-of-1-25...

Bank of Ireland has recorded a pre-tax loss of €1.25 billion for the first six months of the year compared to a €556m loss for the same time last year.

Gross oversimplification and raging speculation coming up. First, accept the main premises of both camps.

Peak energy 101: the easy sources are running out and alternatives will be slow to fill the gap.

Unlimited Energy 101: renewables will eventually fill the gap (biobutanols, thorium, name it). Limited only by investment. Liquids included.

Roll forward 10 years. The world did not come to an end. The economy is even recovering.

Both energy camps turned out to be right. Crude is in crashingly short supply. NG fracking failed. Sands are yielding but at astronomical prices. Alternatives are now rapidly coming on stream (in part due to five years of astronomical energy prices) but have barely dented prices so far. So you have

1) Extreme current energy shortage.

2) Clear prospect of cheaper energy in the 3-5 year term.

Impact on precious metals?

Gold: high stocks, low flows, rich investors, long horizons. Everyone can see that future cheap energy will facilitate extraction and reclamation. Current high energy price only impacts flows (relatively little impact). Price rises are therefore limited by long term production expectations.

Silver: low stocks, high flows, poor/industrial investors/buyers, short horizons. Five years of reduced production have caused acute industrial shortages. Future cheap energy does not alleviate the current shortage. Current high energy prices have impaired mining operations and destroyed supply. Rare Earth-like shortage spike.

Result: a period of extremely low GSR. 

Resulting recommendation to cash rich but gold poor Asian nation with long-term perspective: aggressively hoard impossibly and inconveniently huge  quantities of energy and non-gold commodities, regardless of the impact on relevant markets, while beginning to accumulate gold steadily. There is no rush: there will be a good opportunity to exchange commodities for gold within half a generation at excellent prices.

Observed action by said Asian nation: see above.

Thank you I run Bartertown for that picture of the cream of British young manhood.  We will have no problem recruiting for our next Finest Hour.  It also reminds me why we departed the U K for Spain.

Very insightful post.

This Oil Data Will Shock the

World

By Matt Badiali, editor, S&A Resource Report 

Wednesday, August 8, 2012 

You wouldn't hear about it in the mainstream media, but the U.S. just increased its oil reserves by 3 billion barrels... overnight.

 

On August 1, the U.S. Energy Information Administration (EIA) published the official oil reserves for the U.S. It showed the largest-ever annual increase since it began publishing the data in 1977. That 3 billion-barrel increase beat the next-largest jump by more than 60%.  

 

And this is just the beginning... 

 

Since U.S. reserves bottomed in 2008, they're up 22.8%... But here's the thing: We're only looking at 2010 data.  

 

 

The government takes about 18 months before it signs off on "official" reserve data. In the meantime, this trend has accelerated. Let me explain... 

 

We can attribute a large part of the 2008-2010 increase to massive growth in the Bakken Shale. The Bakken Shale is an oil-soaked package of rocks that lies beneath 90 million acres of North Dakota, Montana, Saskatchewan, and Manitoba, Canada. It contains over 400 billion barrels of oil.

 

The oil is trapped in rocks that hold on to it tightly, unlike the traditional oil reservoirs. The industry struggled for decades trying to get the oil out. But asGrowth Stock Wire readers know, new technologies have "unlocked" that oil, allowing it to be counted as part of the country's official reserves.  

 

As recently as 2008, official reserve data for the Bakken showed just 3.8 billion barrels. According to industry sources today, we will probably get 24 billion barrels out. (That's nearly equal to official 2010 reserves for the whole country.) 

 

We will not get the official 2011 numbers until next year... And this year's will take another 18 months.  

 

But I promise you, those numbers are going to shock the world.

 

All this "new" oil will correspond with massive increases in production. As I showed you last week, we're already seeing that.  

 

That has me cautious on any investment that depends on a rising oil price. I'm more bullish on the small-cap stocks that are finding and drilling the next major sources of oil. I'll tell you more about what I see there in a future essay.

 

Good investing, 

 

Matt Badiali

Peak Oil Investors Beware: U.S. Production Is

Soaring

By Matt Badiali, editor, S&A Resource Report 

Wednesday, August 1, 2012 

Sometimes, all it takes is one simple chart to smash a sacred cow.

 

Right now, we can smash the sacred cow of Peak Oil. The chart is in today's essay.

 

Read investment newsletters for more than a month, and you'll come across the idea of "Peak Oil." It's a popular idea that has sold millions of books and newsletters. The idea is that oil production "peaked" in 1970, and we've used up more than half the world's oil supply. Those arguments have led to predictions of soaring oil prices... and the "end of the age of oil." 

 

The thing is, the theory was first put forward by geologist M. King Hubbert in 1957... and he was describing oil discoveries. Oil discoveries in his day peaked in 1933 and dwindled into the 1950s. (The oil model that companies were using to explore was getting old.) Hubbert's theory didn't take into account the radical advances in technology that we have today.

 

There's a saying in the oil patch: You can find oil with old ideas in new places or with new ideas in old places. The "new ideas" of hydraulic fracturing (aka "fracking") and horizontal drilling have unlocked vast sources of oil right here in the U.S.

 

Take North Dakota's Bakken shale, for instance. The Bakken shale is an oil-soaked package of rocks that lies beneath 90 million acres of North Dakota and Montana, as well as the Canadian provinces of Saskatchewan and Manitoba.  

 

But 17 years ago, few geologists and engineers gave much thought to oily shales like the Bakken. In 1995, the official amount of recoverable oil from the shale was 151 million barrels. Today, thanks to new technology, we produce that much oil in a month.  

 

Ten percent of the country's oil production now comes from the Bakken. Production in the area is up 73% over the past year. It will continue to grow... and continue to drive U.S. production to record highs.

 

According to the U.S. Energy Information Administration, domestic oil production hit a 23-year high in June 2012. You can see the soaring production below... and how it's shattering the idea that we are "running out of oil." 

 

 

Oily shales like the Bakken lie beneath nearly every conventional oil field in the U.S. and the entire world. Not all will be productive, but a whole lot of them will...  

 

Like the Eagle Ford in Texas, which holds another 10 billion barrels. The Monterey shale in California holds another 15 billion barrels. And the Utica shale in Ohio holds about 10 billion barrels.

 

Add in the Bakken's 24 billion barrels, and we're probably sitting on 59 billion barrels of recoverable oil. And that doesn't count the oil in the shale formations that are only now being targeted by the oil and gas companies. Several of these "Baby Bakkens" could be as large as the Eagle Ford or the Utica.  

 

Here's a quick list of shales that are just now being explored...

 

New Baby Bakkens	Location
Sunniland	Florida
Brown Dense	Arkansas/Louisiana
Smackover	Texas/Arkansas/Louisiana/Florida
Tuscaloosa	Louisiana/Mississippi
Mississippi Lime	Oklahoma/Kansas
Niobrara	Colorado/Wyoming
Permian Basin	Texas
Cline	Texas
Monterey	California
Cana-Woodford	Oklahoma
Cardium	Canada
Duvernay	Canada

 

Every one of these shales is huge. They underlie hundreds of square miles in the U.S. and Canada. They have tens of millions to billions of barrels of oil potential. And they are all just starting to be drilled. Once these shales are explored and developed, more "Bakken style" production increases will be made public.  

 

So if you're investing with "Peak Oil" in mind, you'd better take a page from the oil industry's playbook... and update your thinking.

 

Good investing, 

 

Matt Badiali

 

I looked at longer term gold charts posted above and certainly such corrective triangles that we are experiencing now is not an exception, its not even something new, but a regular feature of this bull run from 2001.

So excuse me for poor graphic, but below I have counted the few most obvious ones (there are many smaller) . The correction triangles are just as regular as the exponential price increase itself. The amplitude of corrections in absolute terms grows as scale ( price ) grows exponentially over time, does not look so bad in log chart I could not produce. 

In percentage terms, all corrections are standing within reasonable comparable boundaries, of course some of them like 2008 being in high end and other lower, but the regularity is there and in fact we can also predict further such triangles happening with bigger or smaller correction amplitudes. Anytime price action get superexponential (grows faster than exponential)  we will see such a correction triangle very soon. On a log chart, that means growth faster than along the straight line in the direction of trend.

So we are lucky we are coming close to the and of this one. See what follows each triangle- continuation of exponential growth - which will happen also this time.

Gold:

Silver:

Here we go! And for silver, add also GSR reduction potential near term. GSR oscillates, so first it will help silver, than gold, then silver etc.

As long as US debt increases, nothing can stop the exponential growth of PM prices. And of course, there is not anything POSITIVE in this world right now that would change the exponential growth in USA debt, so any change would mean contraction of money supply which would mean deflation and heavy Greatest Depression- highly unlikely-as it is still a political choice in , at least in the next few years, not market driven- to turn USA to austerity or continue borrowing. Guess which one will be made? More likely even war driven acceleration of debt increase.

I honestly cant believe this is an issue. The answer is self-evident as many have pointed-out.

Can I take it as gospel then that none of the folks pushing this theory have ever saluted a flag or paid attention when they did?

Lets move along to something with out such easy answers please. :)

Now this endeavour might be a holy grail, but I do lie awake at night sometimes, mindful that knowledge is power, and that if JPM have this info, then they are one step ahead of us.

So, this is a concrete endeavour, which if we can collectively through time, put together a best guess schedule of where the gold is, we might find out a lot about

1. gold market dynamics and flows
2. the prospective winners and losers after a revaluation
3. how tight the market actually is.

At the moment, most of the numbers are illustrative only. The key assumptions for now (& not sacrosanct), are that the global total is 170,000 tonnes, that CB's hold 30,000T, that jewelry accounts for half the total, and that private possession in India is in a league of its own.  

Please recommend this post only if you see a merit in Turdville working together to get to a more refined version.

​Could somebody open up a forum topic for this? I don't know how.

​In the meantime, please title any response to this, as 'Where is the gold.'

(I have always had this sneaking suspicion, that much gold is unaccounted for, and I worry as to who might have it, and the power they will have in a revaluation. Well, we are on to them now, but I detract).

Endeavour Silver is one of my short list of favorites that I maintain over on my miners forum.   I really like the El Cubo acquisition.  I think Endeavour Silver are just the guys to finally turn that thing around and make it into something wonderful.  They are re-engineering the entire approach to mining El Cubo, very much in line with the way they do their other nearby operations.  Plus, there is infrastructure there that will help the whole operation in the area.

I think somebody up there heard me.   Both are climbing again.

7:45  Ah, rats.   Screw it, I'm going for breakfast.

Thanks for the info on Jefferson Coin. I think I have been missing that one because it does not show in my google search and because my relatives live just outside Ruckersville. I don't usually go past there but I will make it a point to drop by soon.