JB and SFC Discuss Ukraine Crisis

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As you might imagine, I haven't had a chance yet to listen to last evening's program. As you might also imagine, given how consistently informative these weekly discussions have been, I have no problem posting it "sound unheard".

The standard request remains in force...Please give this podcast a thorough listen.



CPE's picture


Turd :)

Now back to the beach!

Marchas45's picture


To Listen Big Day Today

Darn thought it was something to do with the FOMC O! Well

Turd Ferguson's picture

As we've been following


How can this be a surprise to anyone? Crude headed to $40 and likely even a shade lower...and if the € moves toward 1.00, it will go even lower.

Turd Ferguson's picture

And here are your updated triangles


Good luck today, everyone!

Again, there's a far greater chance of a short squeeze than there is of a steep drop....but we'll see.

wildstylechef's picture

Turd I am and a great gold stock just keeps positive



Kirkland Lake Gold Announces Record Production of 16,485 Ounces of Gold in February


Kirkland Lake Gold Reports Fiscal 2015 Third Quarter Results With YTD Free Cash Flow Generation of $22 Million


Kirkland Lake Gold Intersects '04 Break Mineralization; Highest Elevation to Date and Within an Unexplored Area of the Mine


Kirkland Lake Gold Appoints Eric Sprott as Chairman of the Board


Marchas45's picture

New ECB In Frankfort

Orange's picture

Ukraine video just posted

​edit: just saw a date of 1/24

Orange's picture

Also on Ukraine

have not listened to this yet, however seems to be about the Ukraine


-SilverIsMoney-'s picture

The Eurozone is collapsing...

It's going to be a sight to see. I've read the massive protests in Frankfurt were largely due to the fact when the building opened it was surrounded by tanks and armed guards and Germans are not particularly fond of police states since the end of WW2.

tyberious's picture

Re:The Eurozone is collapsing...

And hopefully with this ridiculous notion of a one world currency. We have a one world currency, its called Gold!

-SilverIsMoney-'s picture

Someone getting the Fedlines early?

Really interesting watching the dollar plunge and gold rise here starting around 11am CST. Is it a bull trap so these goons can maximize their shorts in an hour or is someone aware the Fed is about to backtrack?

If they backtrack on raising rates it would provide us a nice reversal. Still looking at $1175-1180 as our next big box of resistance.

-SilverIsMoney-'s picture

Barfly's "Becoming a Dealer" Opus...

The last one I posted was incomplete. I was waiting for a new thread to re-post so here it is in what I now believe to me the full version:


The more I hear about this "revolutionary" physical market, it sounds more and more like what's available through every large scale metals refiner in the country. Wholesale, allocated accounts, shipping, the whole nine yards. Of course, retail buyers don't know this. But everyone could simply become their own dealer and hook up with the big refiners in their area.

It's not hard. Wasn't for me. I got a DBA (doing business as, it's a legal document available at the courthouse for about $15), got a sales tax number (free), got a bank account (minimum opening balance) , then went around town to all the refiners and opened accounts with them (free). There are no licensing requirements where I'm at for being a metals dealer. And bullion sales are tax free, as are whole sale transactions. And I get the accompanying tax deductions for having a home based business. Not to mention, everything expense associated with owning metals (like buying a safe, for example) is now a business expense.

Presto chango, I was a metals dealer. I get to buy wholesale, I have access to commercial vaulting services if I so desire, armored car transport, allocated accounts with refiners, refining services, the whole shooting match. And it's all a business expense.

I had more than one big long post that I had written over the past several weeks about this. But, now seems as good a time as any to make it short and sweet. Of course, requirements may change state to state, so you should do your own research. And it's probably not right for everyone, depending on their personal situation. It can be worked as a side business or any way you want to do it. I'm certainly not gaining any commercial advantage here sharing this with you, and that's why you should think about it.

I think that there are probably a few million stackers out there. If they all gave themselves a few percent on each sale and a little incentive and they all got one new person each year to stack because now they are a channel to go through instead of turning someone loose to go find metal who has never bought any before, they could get that many more people stacking. The market (and demand for metal) could double or triple in a few years, providing that much more supply stress against the "system's" price suppression schemes. It would get more sound money in the hands of people who need to defend themselves against the soul sucking dehumanizing immoral effects of inflation.  Nobody has to be affiliated with any particular entity, everybody can do business with whoever in their area makes the most sense. A decentralized, organic, entreprenuerial movement.

There is no "Stacker Jesus." It's us. Each and every one of us can a metals dealer. If there is going to an awakening to the corrupt monetary system that we languish under, we're going to have to do it. One mind at a time.

Disclaimer: I hope I've given you something to think about. I've written this in good faith and it is an effort to share my experiences going into business and is not intended to be legal or tax advice. I pay people who are experts in those fields and if you are considering pursuing this course, you should do your own due diligence.


BillyJoeBubbaBob leans over his counter and looks you in the eye. Well, looks you in the eye with the one eye thatisn't cocked to side and crossed, and in his most serious tone of voice, minus the accent, says "Givya haf o' spot,that's 8 BillionTrillionBigAssWackyBucks."

When you protest and tell him that your computer says it's worth 17 BillionTrillionBigAssWackyBucks, he gives you the most clever response he was ever heard. He says, "Well sell it to the computer." You can't, of course, because the internet has been regulated into oblivion in terms of transacting business, much less doing something as subversive as trading assets which might hold their value in the face of continual BigAssWackyBuck devaluation. You consider yourself lucky just to have been able to find a price point. He then goes on to tell you that you're just a customer. You don't deserve spot.

You see, things have changed in 'Merica. The dollar has been replaced by the BigAssWackyBuck. This fiat currency was issued to replace the antiquated dollar just a few short years ago. The Federal Reserve hired the best marketing firms in the country to come up with the design and name of the new bills, and what they came up with was a currency featuring pop cultural icons such as coked out brain dead celebrities with plasticized asses, professional wrestlers, wife slapping athletes, gangster rappers, monster trucks, and electronically enhanced no talent boy bands. This was actually a pretty great way to run a new fiat currency system because as the popularity of the "cultural icon" on the bill diminished, the Fed simply devalued the note and printed fewer and fewer. So, money in circulation constantly went down in value and newly printed money was the most sought after. One could leave their money in the bank, of course, and not have to worry about the "cultural icon" on the bill in their wallet becoming worthless, for a modest negative interest rate, of course.  

The price of gold was actually 17 BillionTrillionBigAssWackyBucks (adjusted for the picture on them, of course). However, BillyJoeBubbaBob was a child prodigy in business and figured out that he could buy gold and silver from customers for half of spot (even though his math wasn't good) and sell it at spot to the local branch office of the metal refiner in the town next door. So, at the ripe old age of 19, he was a Gazillionaire. He was the hottest batchelor in town, sought after in spite of his cocked crossed eye, which was on the side where the ear was where it was supposed to be. The ear on the other side, where the straight eye was, was two inches low. But, I want to talk about BillyJoeBubbaBob's business acumen, not his good looks (possibly from growing up on GMO corn). He had everything. Cash flow, travel papers, permits, and the family connections to get permission to do just about anything he wanted.

BillyJoeBubbaBob's Coin Emporium was open to the public and had a standing offer to buy any piece of barbarous relic for "haf o' spot" like the sign says. Your only problem is that the amount of your adjusted mortgage is 17 BillionTrillionBigAssWackyBucks. And, since BillyJoeBubbaBob's Coin Emporium is the only shop in town that has the cash to buy your $50 Gold Eagle, you're in a bit of a spot. It's doubtful you'd be able to bribe the local Homeland Security Capo into giving you a travel permit to a larger city so you could shop your gold eagle around for the best price, and you'd have to lie about what you wanted to go to the city for in the first place, because if the Capo knew you had gold, he might just confiscate it for national security reasons.

And here you thought you had the money to stay out of the FinancialFreedomLifeRetreat. Of course, since it's run by government contractors, FinancialFreedomLifeRetreat was named as the opposite of what it really is; DebtSlaveryDeathJail. It's a work camp where people are sent to work off their debt to the corporations that so generously provide them with Freedom, Abundance, and Economic Opportunity.

It is clear to you that when you made the right decision to stack gold and silver before the great collapse, you didn't think it all the way through. It is possible that you made a strategic error in planning your exit strategy. Now, back to reality. I've painted a pretty bleak picture for you. In fact, I've made it a nightmare. I did that, however, because I wanted you to remember the big picture concepts that will haunt you when you go to sell a part

of your hard earned stack. Especially if you should have the audacity to do so at a market peak. In 1980, at the last gold peak, I have heard stories about two coin dealers, one in CA and one in AZ, that were shot dead by their customers because they refused to buy at the peak of the market. Think about this, think about what you would do when faced with a local coin store that did not have the liquidity or capital resources such that you might get your great financial reward from stacking.

I know, there is a rabbit hole to go down here. But, let's just assume, just for a moment, that the financial system survives and is around in some form or another for the rest of your life, and that in order to transform ownership of one asset into ownership of another kind of asset, maybe one of those nice FinancialFreedomLifeRetreats I mentioned earlier (just kidding), that you will have to interface with it by converting your asset into something like BigAssWackyBucks. Then, purchase your desired asset (maybe paying off your mortgage) with the proceeds.

In order to maximize your gains, you need to interface with the largest, most liquid market you can find. This is why you need to become your own dealer and sell to refiners. Every refiner I do business with have trading desks that hedge their book using futures contracts (I know, it's rigged, but futures contracts have legitimate uses). That means they have the resiliency to weather storms on the charts. These are multiple billion dollar enterprises in some cases. All of them, however, for the purposes of the vast majority of stackers, have the resources to buy your whole stack of metal at 99% of spot (standard opening bid) and not even blink an eye.

As a dealer, you will also be able to open up your own storefront across the street from BillyJoeBubbaBob's Coin Emporium if you so choose. Or if you want to keep your costs low, you might simply buy a table at a coin show or a gun show and sell your stack at retail prices to the public. Maybe even for BigAssWackyBucks.

I could go on. I could talk about that television show, I think it's called Pawn Scum, and give you a real life example (in the form of court documents) of the buying practices of actual local businesses that deal in gold and silver. But I think you get the point.

Once again, I hope I've given you something to think about. If you're a serious stacker, and you're putting serious economic energy into stacking, you need to be serious about being able to get that economic energy back out of your stack at the right opportunity. It is my opinion, being someone who has owned gold and silver for many years, and having started my own business, is that your best shot at doing that is to become your own dealer.


So, if you've followed me this far you know there are some benefits to being your own metals dealer. Once you have your basic documents, state blessings, & bank, refiner, and wholesaler accounts, you're ready to go out and do some business. But, where do you start? Exactly what kind of business should you try to go do.

I have three basic legs in my model. I broker precious metal. I buy, sell, and broker numismatic coins. And I scrap. Each one of these is a world unto itself. I sort of grew into each one through experiences I'll talk about. It was only after several people suggested that I start my own business, and the encouragement of one coin dealer in particular who outlined his business to me that everything clicked into place. I hope to shortcut that process for those of you who are reading. 

I'll start with scrap. I spent 2013, just as a hobby, trying to buy cheaper silver. What I found was lots of unwanted, scratched up, plated silver pieces from the 1960's in lots of different thrift stores and resale shops. Now, plated silver tarnishes and it has to be taken care of, which is why most people don't want it. It takes effort to make it shine. Usually, it belonged to grandma and she took care of it, but someone gets it in the will and they'll put it in the yardsale, which you can also hunt for unwanted metal. If you can buy it for $1.50 - $2 per pound, it's profitable. I melted mine for a long time, because a 2% silver bar fetches a higher exchange at the refiner than a bunch of forks and knives.

One can also hunt estate sales for sterling. Sterling has a higher trade in value than plate percentage wise and you can find it mispriced if you know what you're looking for. There's still a reasonable amount of sterling silver jewelry out there that can be had for less than the melt value if you're a good negotiator and know what you're looking for.

Your bank also might have some silver behind the counter. Go in and ask the teller next time if they might have any loose half dollars. You'd be surprised sometimes how many pre1964 halves that people turn into the bank as 50 cent coins. I used to hunt half dollar boxes, which I would buy for $500 plus a small service fee and look through it for silver coins. It's labor intensive, but I found 50 ounces over about $75K searched.

Also, you can buy broken jewelry. If you know what you're doing, you can make someone an offer for 70% of the assayed value of the piece, and since it costs so much to repair a lot of it, there are a lot of people who will take that offer. Accumulate it, melt it into a bar, and take it to your refiner and exchange it for bullion.

So, that covers scrapping. The next model is fairly simple. That is, brokering precious metals. When I make a sale, and selling is another whole universe to explore which is beyond the scope here (more posts of that to follow), the typical transaction goes something like: The client tells me how much they want. They write me a check or make a wire transfer to my business account. As soon as the funds clear, I wire them to my wholesaler. Usually, I have already placed the order and locked in the price at this point, and simply have them hold the order (let them hedge the risks, it's part of their model). Once the metals get delivered to me, I deliver them to my client. A sell transaction works in reverse. Depending on the size of the sale, I take a percentage to make it worth my time.

Then, there's numismatics. If you don't have a background with coin collecting, I advise you to take the time and learn this market very carefully and slowly before you take any risk purchasing coins. There are many BillyJoeBubbaBobs' out there who are rather unscrupulous and will take advantage of your inexperience. But the model is simple if you know how to grade and price a coin. You simply set a margin, buy below the market according to that percentage and sell at market.

So why am I telling you this? There must be dealers out there seathing with rage at me right now. But, I'll tell you, there's only so much scrap supply that's recoverable out there as far as precious metals go. I want it gone. All of it. I can't do it by myself. Once it's gone, that input into the commodity price suppression mechanism run by the Too Big To Jail bankers will be gone and it will be that much more costly and difficult to control the market. I'll write about the business aspects of beating a commodity price supression scheme in another post. But, for now, I've given you enough to think about.

Again, you can work this as a side business and enjoy the benefits and tax write offs. I'm not an expert on law or taxes, I pay people for that. I hope that my experiences serve you as a guide. Please do your own due dilligence and verify everything I tell you. Good luck and good hunting.


Having explored the benefits, the reasons why, and the basic model for being an independent metals dealer, I think it's time for a brief word on sales.

Basically, the human species knows everything about how to sell. There are plenty of books out there on the market, and if you have no sales experience at all, they will be well worth your time. Particularly, the ones modeled off of transactional analysis. TA is a specialty area of psychology centered around the three basic modes of the human psyche. Those are child (natural and adaptive), adult (only one mode), and parent (nurturing and critical). Understanding these modes will help you percieve where a person is coming from and will enable you to navigate your way through the exchange and address whatever concerns they have. If you want to go deeper, you can also study NLP (neuro linguistic programing), which is studied by some of the most successful sales people in the world.

Sales training is pretty abundant, if you want to sit in any classes, you can get them for little to no money if you're ambitious enough. There's an entire industry of consultants, life coaches, personal improvement coaches, head hunters, or any number of other professions out there that teach sales. If you want to, it's fairly easy to hook up with someone who will teach you the how to's if that's what you need to learn.

There are only three basic things that you can sell. Those are time, money, and peace of mind. Luckily, precious metals cover two of those basic commodities very well.

So, here's the basic formula that can be used to pitch ownership of metals to someone who has never done any research, has any understanding of economics, or monetary history or any of it.


In 1964, it was the last year that the US Government minted coins made out of 90% silver. That coin could buy a gallon of gasoline. 50 years later, the amount of silver in that coin still buys a gallon of gasoline.

Alternatively, in 1964, an average house in a decent neighborhood cost roughly 200 ounces of gold. Today, that equivalent amount of gold still buys an average house in a decent neighborhood.

Why? Because the value of gold and silver have not gone up, the value of the dollar has gone down.

The central bank of the United States, the Federal Reserve, has an inflation target of 2%. 2% compound interest over 10 years is roughly 25%. That means that every ten years, the dollars you save are worth 25% less than they were when you saved them. Saving in gold and silver will enable you to avoid the loss of purchasing power because of the effects of basic supply and demand. Silver and gold will always cost more to dig out of the ground in the future than they do today due to the effects of inflation. Roughly 25% every ten years if the inflation target is constant. Gold and silver will never be worth nothing, unlike companies such as Enron. They are recognized around the world and can be sold for any currency.


That's it. I've just sold someone money and peace of mind, and given them the tools to avoid the dehumanizing and immoral effects of inflation. It should take roughly ten minutes to give them that speech and answer any questions.

You end with one final question... How much do they want to buy. If they ask you how much they should, you tell them whatever they're comfortable with (adult response, putting the onus of the choice on them).

That's it. Now you can sell gold and silver. Not everyone is going to "get it." Don't worry about it if they don't. There are still plenty more sheeple out there to wake up.


Alright... And now for the continuation of my series on becoming an independent metals dealer.

On Beating the Commodities Price Suppression Scheme

A close friend of mine grew up in a family that owned a chain of grocery stores. He has a saying about commodity markets. That saying is "commodities trading exists so that speculators can go broke."

Think about that statement for a moment. It has layers, like an onion. Speaking of onions, they'll make a great example to talk about why that statement is true.

Imagine, if you will, a commodities exchange where onions are traded. Onion producing farmers take out loans to buy seed, fuel, labor, and the other cost inputs that go into producing a crop of onions. They come to the exchange to sell forward their production in order to make sure they have a buyer come harvest time so that they can pay back their loan. Distributors, such as my buddy's family with the grocery stores, also come to the exchange to buy a future supply of onions, ensuring they keep their produce section stocked with a steady supply. In the middle of the producer and distributor (two of the three components of classic economics, production, distribution, and consumption), is the speculator.

The speculator participates in this market by buying onions futures contracts. Come harvest, he promises to pay the farmer X amount of dollars per pound of onions on Y pounds of onions. The farmer will simply have to deliver the onions. Now, the speculator has an onions contract that he bought for X amount of dollars. He is hoping to sell that contract to someone who owns a chain of grocery stores like my buddy's family at a profit. So, he goes shopping this contract around. Now, onion prices flucuate all year. They are lowest just after harvest and as the supply gets consumed through the year, the prices rise. When farmers plant, the prices for an onions futures contract should be closest to their highest point.

Here's where it gets really fun when you own the grocery store. You want to buy your onion contract just after the harvest, when prices are lowest. How can you do that? Well, it turns out that you have refrigerated warehouses that you can keep your onions in all year long, steadily supplying your chain of grocery stores. Your primary concern is the timing of the delivery. You don't want to have onions sitting outside your warehouses rotting in the sun because you run out of room. So, you need deliveries when your warehouses are just about empty, which happens to coincide with harvest time, when onions futures are at their cheapest.

Having a warehouse is the trump card of the distributor over the speculator. Game it out all you want, the speculator cannot take delivery of semi-truck loads of onions on their front lawn. At some point, they will become desperate to sell and have to sell at a loss to people like my buddy's family who own the grocery store chain and the refrigerated warehouses.

Now, this explanation is fairly simplified and there's plenty of opportunity to get well into the weeds and talk about all kinds of aspects, just like in Econ 101. But, the key to understanding it is in the simple Adam Smith model of production, distribution, and consumption. But there's a key difference here between onions and our area of focus, metal. Onions go bad. Gold and Silver have been gold and silver for billions of years and they will still be gold and silver for billions of more years. Technology invented by man has yet to burn gold and silver, or cause them to rot. But we can use them in quantities that render them unrecoverable.

I digress. As a stacker, you're taking delivery, just like the grocery store. Only, in our market, metal is mined and not grown. The metals market is, as has been discussed ad nauseum, manipulated and controlled by a price suppression scheme in order to maintain confidence in the pretty toilet paper everyone carries around in their wallet and the nice digits on a computer screen that people think of as money. The money printers are currently dictating the price is lower than the cost of production. And, retail stacking may work out just fine for you, but I submit that becoming an independent metal dealer as a side business will do even better for you.

Becoming your own independent metals dealer will put you in a much better position within the metals market. You will move closer to mines. In my example above, this would be buying onions wholesale from the warehouse instead of at the checkout counter at the grocery store. You will also get your own mine in the form of finding scrap and trading it into your refiner for bullion. It is like being able to grow onions in your backyard garden and sell them to the warehouse. So, you'll get access to an infrastructure that will allow you a guaranteed buyer, allow you to find lower cost metal and have it refined, and allow you to sell to the retail market(getting more metal into the hands of more people who need the tools to defend against inflation), and take delivery of more metal than you could get buying retail when the market is opportune for you to do so (like right now).

Because you are in a much better position to produce, take delivery, and distribute gold and silver, you will actively contribute to the manipulation game coming to an end. At the end of the game, the manipulators go broke. That's because, if you remember, "commodities trading exists so speculators can go broke."


People who market through the internet will tell you that only the internet is effective for marketing, you must have a website, you must have a linked in, you must spend all your time plopped in front of a computer outwitting search engines or paying off their owners to put you first, etc, etc, etc. Well, it turns out this is wrong. You can find clients without the internet. You can wait to play with the internet until you have time to do it because it can be a huge time drain.

There was a time before the internet. There was a time when people met other people face to face, sat down, and talked to them. It was called, oddly enough, networking. Computers sort of took over that mantle, but the old fashioned way of doing it still applies to the world. I'm hoping to make you aware of it with this post, in case you think you need to have a website and all the attendant expenses and headaches to start your own independent metals business.

He's a story about how it works. I know a guy who makes movies. He's pretty talented and has won an emmy for his work. He shared with me once how he got started. He knew he wanted to make movies, so he bought a used camera. When he worked out the deal for the camera, he asked the guy who sold it to him for two names of people who might be interested in paying him to use the camera to do some work for them. That was it. Over time, he did work for people and asked them about people they knew who might be interested in hiring him to do work for them. From amatuer film maker to emmy winning producer. And that was how he did it. Didn't have a website or anything.

The first time I ever sold bullion to anyone, it was a friend of mine. We had a conversation and he asked me why I was so interested in metals. I explained it to him as simply as I could. I used the example of the 1964 90% silver quarter buying a gallon of gas and the same amount of metal today still being able to buy a gallon of gas. I told him about inflation and I gave him examples of hyperinflation throughout history, and talked about 1923 in Germany in particular. At the end of the conversation, he asked me if he could give me a stack of hundreds for a stack of  gold and silver. I asked him to give me thirty days to go into business and I'd be happy to. My commission was a $1 bill which is in a frame on my wall.

I knew then that I could sell metal.

Anyway, I got two names of people from him that he thought might be interested in hearing what I had to say and it goes from there. And, if you walk around in a mall, or go to a restaurant, or go to movie, or a party, or a wedding, or even church (if that's your thing), and you meet people, everybody is a perspective client. So is your doctor, your dentist, your insurance agent, your lawyer, your preacher, your neighbors, your poker buddies, and all their friends, too. That doesn't mean you should hound them or do something socially awkward. But, if they are intersted in what you do, you should whip out your business card like that scene in "Fight Club" where we meet Tyler Durden, and you should be charming, just like Tyler Durden was, and peak the interest of the person you are talking to with your thirty second elevator speech. You might say something like, "I'm engaged in economic warfare against a criminal banking cartel known as the Federal Reserve with all means at my disposal," if you want to channel the movies (which should probably be avoided). Or you might say, "I give people the means to protect themselves against the forces of economic cycles and inflation by giving them the tools to accumulate real wealth outside the banking system with no counter party risk and it can't be hacked." Or you might work in the financial crisis of 2008 and tell them about providing an insurance policy from systemic risk.

Avoid anything anyone might flag in their brains as "conspiracy theory." They will shut down and you will be blocked out no matter what you say. The brain washing is that bad, so you have to work around it and frame things in a positive light. You are delivering something to people that helps them and protects them, not something that is going to make them rich when the house of cards comes crashing down. You're doing them a favor.

Not everyone is going to "get it." That's OK. They might tell you something about one of their friends who is a coin collector or talks about "that stuff" or something else. But you have to talk to them to find out stuff like that. Get that friends number. Everyone is a potential client. Everyone can potentially wake up, just like you did.

And you're not going to sell everybody on the first go, either. If you don't, ask them if it's OK if you send them things time to time relevant to the subject of metals. Get their e-mail (I know use of the internet, but mind you, it's without the headaches of websites and search engines) and e-mail them an article from ole Turd time to time. Tell them that your business was built over a long period of time because what you deal with isn't always easy to understand and it took you a long time to understand it. There's a good chance they'll say yes. And that's how you network and sell things without the internet (except for that e-mail follow up thing, that is).

Speaking of the internet, this will be it for me for a little while. I have things I have to do, and it's been too much of a distraction lately. This is the last long post for now, but I will return to post more later. I hope reading my missives has not been a waste of your time. 

infometron's picture

Another great call by the turdmeister

Skaweeezzze... Good going Craig!!

cavalier's picture

Today's Journal - Higher Rate Expectations Tarnish Gold

Today's Wall Street Journal has an article in the "In the Markets" section entitled "Higher-Rate Expectations Tarnish Gold." It trots out the usual arguments that the strong dollar reduces investor demand for gold and that an increase in rates will put even more pressure on gold. It notes that gold is at a 4 month low. It also said that a stronger dollar makes gold more expensive for buyers outside the US.

It noted that political stability in Greece and "a move towards peace in the Ukraine" mean less need for a safe haven investment. I don't think that we have stability in Greece and do not think we are moving towards peace in the Ukraine. They quote Rick Rule who feels that the dollar could fall if investors perceive that that the Fed won't raise rates rapidly and that a declining dollar would benefit gold.

More of the same main stream media cold water on gold. Rick Rule does mention that gold is in a bull market in almost every other currency.

4 oz's picture

Release Date: March 18,

Release Date: March 18, 2015

For immediate release

Information received since the Federal Open Market Committee met in January suggests that economic growth has moderated somewhat. Labor market conditions have improved further, with strong job gains and a lower unemployment rate. A range of labor market indicators suggests that underutilization of labor resources continues to diminish. Household spending is rising moderately; declines in energy prices have boosted household purchasing power. Business fixed investment is advancing, while the recovery in the housing sector remains slow and export growth has weakened. Inflation has declined further below the Committee's longer-run objective, largely reflecting declines in energy prices. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations have remained stable.


Silverhog's picture

Right on Turd

Looks like we got ourselves a short Sqeeeeeeaze going!

47ArGentum's picture

Buckle up!

Buckle up!

Gamble's picture

Woohoo just got back

From Disney with the fam , and was going through my change and noticed a shiny 1979 one dollar coin ! Googled it , valued at 10 bucks ??? Is that right? 

Anyways, haven't seen one before . 

Gamble gamble

what goes up must come down

-SilverIsMoney-'s picture


The dow is up 300 pts in the last 30 min. S&P up 30pts in 3omin. Gold up $20 in 30min.

This is what happens when the Fed speaks out both sides of their mouths. The entire statement was one garbled hawkish-dovish hybrid and everyone is just buying everything.

I will be super impressed if we break through $1180 but i'm still betting we get stopped in the $1175-1180 area.

Barfly's picture

The fedlines - caution

It should be noted here that the Fed hasn't actually raised rates. They said that they probably won't raise rates in April but might raise them in June. I think that someone knows that this is just BS because of the gold price spike, and they can't raise rates. But, got to hand it to them, they jaw-boned that dollar index lower without having to crank up the QE. It's obvious what the priority was. Nice spike in bonds, too.

Libertybella's picture

Mysterious flash lightens night sky in south Russia

An inexplicable white-and-blue flash was spotted lighting up the sky over the southern Russian city of Stavropol. A dashcam video has since triggered a heated debate over the origins of the mysterious sight.

Stavropol’s horizon offered a jaw-dropping view to those who weren’t asleep at around 00:39 local time (21.39 GMT on Monday). The soundless flash of light scared several people, as it made some streetlights in the city go out, while being accompanied by the flickering of lights inside apartments and houses.

Local residents have come up with various theories to interpret the incident – military exercises that are currently taking place not far from the scene, faults in the electricity net, Northern Lights, an asteroid and even UFOs.

I was very frightened by what I saw, I was already in bed. It looked as if something very bright lit up my ceiling,” a woman shared her experience on social media, Russian daily Argumenty i Fakty reported.

According to the Hydrometeorological Center of the city, the phenomenon “can’t be attributed to nature”– rather, it could be anthropogenic. The source of the light is thought to have been located somewhere on the ground.

However power engineers have rejected a version suggesting a fault in the power supply line leaving the public clueless about the nature of the mysterious flash


Ok....could this be a test of an EMP weapon?  In the EMP wars I guess he who EMPs first EMPS best yes?

not sure I was successful getting link embedded....but I think you can find your way to the RT article...its' on Drudge as well.


CPE's picture


Big Outside Reveral Day forming in the HUI, anything above 161.95 makes the ORD.

SS121's picture

measured response, or kickoff ??

[Most Recent Quotes from www.kitco.com] [Most Recent Quotes from www.kitco.com] [Most Recent USD from www.kitco.com]

system gold chart up

system silver chart up

system usdx chart down

This line shows usd weakness.

maybe kickoff  to the 'Charts' piece of what has formerly been 'stories'-only regarding their move to replace the usd. 

Libertybella's picture

Mysterious flash lightens night sky in south Russia

Maybe it was a small EMP weapon...from Wikipedia:

The range of NNEMP weapons (non-nuclear electromagnetic pulse bombs) is much less than nuclear EMP. Nearly all NNEMP devices used as weapons require chemical explosives as their initial energy source, producing only 10−6 (one millionth) the energy of nuclear explosives of similar weight.[6] The electromagnetic pulse from NNEMP weapons must come from within the weapon, while nuclear weapons generate EMP as a secondary effect.[7] These facts limit the range of NNEMP weapons, but allow finer target discrimination. The effect of small e-bombs has proven to be sufficient for certain terrorist or military operations. Examples of such operations include the destruction of electronic control systems critical to the operation of many ground vehicles and aircraft.[8]

SilverX3's picture

Was gonna comment on this

Was gonna comment on this earlier, before the 2pm fedlines. The fact that the 10-year yield has done nothing but go down since its March 08 local high was probably a pre-FOMC cue that it's all a hoax - this business of Fed raising rates. Classic sell the rumor, buy the news.

ReachWest's picture

FOMC Nonsense Abounds

gak! Was trying to listen to the Yellen FOMC presser. Can't do it - so much garbage and bafflegab. Argh!

What a strange species humans are - group think and nonsensical bafflegab - what a crock.

CPE's picture


SS121's picture


lots of interesting implications in that fed alert!

CPE's picture


I can't decide which is better, the red bar or her panicked face!

Wrote you a note on the other thread.

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