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Fast Market = Fast Update

No time for dillydallying today. Things are rolling so let's get right to it.

Let's start with our two base commodities as the PMs are definitely drawing some strength from them. As I type, Dec11 crude is up $2.41 at $92.61. DrC is charging higher again, too.


These two have given a boost to silver which is finally trading back above $34.


Gold is lagging just a bit but the chart suggests that it won't be lagging much longer.


That's all for now. I'll have a more detailed update after the close.  TF

1:10 pm EDT UPDATE:

As this epic drop in the POSX continues, look for even more downside tomorrow. As noted in the post from later yesterday, once 76 gave way, The Pig looked to fall into the abyss. As you can see on the chart below, 74 looks likely as a short-term bottom.


Dropping to 74 tomorrow or next week would likely be the impetus for gold at 1780 and silver at 37.  TF


Green Lantern's picture

Re: Red Shields

Wonder if the Red Cross as any similar roots

ewc58's picture

Not gonna be that simple in eurodisney, not by a looooong shot

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Tyler Durden's picture

Euro Bailout Cracks Emerge; Greece "Just Says No"

"When reporting on the announcement of the math-free deus ex machina bail out that was announced last night, which nobody still has any grasp over, but it had a "trillion" in there somewhere so that alone sent the market scurrying, we suggested that it would take about 24-48 hours for reality to start settling in.  It may have been considerably less. As the Telegraph reports, "A trillion euro bail-out to save the EU’s single currency is in danger of unraveling after Germany’s central bank warned that the rescue measure was too dependent on the high-risk deals that caused the economic crisis."

So what did the Bundesbank do to send tremors that threaten to fracture the brittle nanometer ice-plated facade under which the most tempestuous riptide in European history is contained? Well, first it appears to have used a calculator, something nobody else in the European Council seems to be capable of. Second, it realized that heaping leverage upon leverage to fix a problem, something even a five year old (non-Ivy league trained) would tell you is lunacy, may not be the best approach to fix the problems at hand..."

ewc58's picture

Green Light...

cpnscarlet's picture

Did anyone post this yet?

Just to be on the safe side - must read on GLD - not that any of us have it...

Another good explanation of why GLD ain't GoLD.

@Shill - That's "Emperor S**t" to you.

Green Lantern's picture


They are indeed the same, type.   However, you are not obligated by law to take free or cheap money that you can't pay back.  Although you won't find too many human beings turning down cheap money.  Slavery is so appealing.

UncleFester's picture

CPN, Shill, et al

Local coin guy, so no packages.  My wife no longer harangues me, even the eyerolls have stopped.  My friends, she is now a convert!  For example...she was in a local Mex restaurant the other day with the young'ins.  She hardly ever pays in cash, but this time she did.  The 6 yr old was shocked, only dad has cash!  They started talking about money and she calmly explained that cash was not real money.  The guy next to her gave her "the look".

My home is not the same.  It is sad, actually.  Before, it was a cheery type place that housed only one cranky ole bastard who enjoyed "telling it like it is" to any green horn who wold listen.  Now, she just agrees with me and asks "Did you pick-up silver or gold this time?"


Green Lantern's picture

I know stupid

backseatdriver's picture


I listened earlier. I thoroughly enjoyed part 4 about prognostications. ;) I have not listened to part 5 yet.


UncleFester's picture

Green Lantern

Indeed, you are not obligated by law to take a hand out of legal tender.  But my point is...remove the legal tender and would anyone truly want it?  Try this...

They do not force people to accept spoiled turnips.

They do not force people to accept flaming bags of shit.

They do not force people to accept orange crayons.



Maryann's picture


Ok, Cpn, Shill,  and all the rest of you (except maybe Uncle)....all I can say is your presentation skills just must be off because there are plenty of us females (I'm not blonde but I'm sure there are plenty who are) who do get it and if we don't, well, we just need education.....cheeky  

Ok, ladies, I did what I to get the doorbell...smiley

backseatdriver's picture


Every time you post it brings a smile to my face. You are always a breath of fresh air wherever I see you around "town". smiley


recaptureamerica's picture

You don't have to accept frn

You don't have to accept frn for payment and you don't have to accept all forms of it. A store can decline accepting 50 or hundred dollar bills. FRNs are the ultimate scam as u know.. backed by govt says so..but that another story for another day.

crossbow's picture

went to the site and they are

went to the site and they are apparently sold out - 100,000 sets @ $299 ea. for 5 oz of "special" silver

cpnscarlet's picture

@Maryann - Seriously, I only

@Maryann - Seriously, I only have one wife and no concubines.

But when the true patriarchy is restored and Illuminati-inspired feminism is abolished .....

(trumpets sound and throngs of marching men enter stage right - guys, you fill in the rest)

Maryann's picture

Thanks BSD

What a nice thing to say...thank you!  I wish I had more "heavyweight" things to post but my expertise is more along the "hearth and home" type.  However, I do what I can to keep up reading the awesome thinking here, of which you are certainly in that category, BSD!

Edit:  Cpn, again, arghhh....smiley

¤'s picture

Chronological history of gold / You'll find this fascinating...

DPH: You might want to print this out as it's pretty interesting imo. My apologies for the span from 2002 to present. I'm working on it.  Some of these facts are pretty astounding and largely forgotten.



4000 B.C. A culture, centered in what is today Eastern Europe, begins to use gold to fashion decorative objects. The gold was probably mined in the Transylvanian Alps or the Mount Pangaion area in Thrace.

3000 B.C. The Sumer civilization of southern Iraq uses gold to create a wide range of jewelry, often using sophisticated and varied styles still worn today.

2500 B.C. Gold jewelry is buried in the Tomb of Djer, king of the First Egyptian Dynasty, at Abydos, Egypt.

1500 B.C. The immense gold-bearing regions of Nubia make Egypt a wealthy nation, as gold becomes the recognized standard medium of exchange for international trade. The Shekel, a coin originally weighing 11.3 grams of gold, becomes a standard unit of measure in the Middle East. It contained a naturally occurring alloy called electrum that was approximately two-thirds gold and one-third silver.

1350 B.C. The Babylonians begin to use fire assay to test the purity of gold.

1200 B.C. The Egyptians master the art of beating gold into leaf to extend its use, as well as alloying it with other metals for hardness and color variations. They also start casting gold using the lost-wax technique that today is still at the heart of jewelry making. Unshorn sheepskin is used to recover gold dust from river sands on the eastern shores of the Black Sea. After slucing the sands through the sheepskins, are dried and shaken out to dislodge the gold particles. The practice is most likely the inspiration for the “Golden Fleece”.

1091 B.C. Little squares of gold are legalized in China as a form of money.

560 B.C. The first coins made purely from gold are minted in Lydia, a kingdom of Asia Minor.

344 B.C. Alexander the Great crosses the Hellespont with 40,000 men, beginning one of the most extraordinary campaigns in military history and seizing vast quantities of gold from the Persian Empire.

300 B.C. Greeks and Jews of ancient Alexandria begin to practice alchemy, the quest of turning base metals into gold. The search reaches its pinnacle from the late Dark Ages through the Renaissance.

218 B.C. – 202 B.C.  During the second Punic War with Carthage, the Romans gain access to the gold mining region of Spain and recover gold through stream gravels and hardrock mining.

58 B.C. After a victorious campaign in Gaul, Julius Caesar brings back enough gold to give 200

coins to each of his soldiers and repay all of Rome’s debts.

50 B.C. Romans begin issuing a gold coin called the Aureus.

476 A.D. The Goths depose Emperor Romulas Augustus, marking the fall of the Roman Empire

600 A.D. –699 A.D. The Byzantine Empire resumes gold mining in central Europe and France, an area untouched since the fall of the Roman Empire.

742 A.D. –814 A.D. Charlemagne overruns the Avars and plunders their vast quantities of gold, making it possible for him to take control over much of western Europe.

1066 A.D. With the Norman conquest, a metallic currency standard is finally re-established in Great Britain with the introduction of a system of pounds, shillings, and pence. The pound is literally a pound of sterling silver.

1250 A.D. – 1299 A.D. Marco Polo writes of his travels to the Far East, where the “gold wealth was almost unlimited.”

1284 A.D. Venice introduces the gold Ducat, which soon becomes the most popular coin in the world and remains so for more than five centuries.

1284 A.D. Great Britain issues its first major gold coin, the Florin. This is followed shortly by the Noble, and later by the Angel, Crown, and Guinea.

1377 A.D. Great Britain shifts to a monetary system based on gold and silver.

1511 A.D. King Ferdinand of Spain says to explorers, “Get gold, humanely if you can, but all hazards, get gold,” launching massive expeditions to the newly discovered lands of the Western Hemisphere.

1556 A.D. Georgius Agricola publishes De re Metallica, which describes the fire assay of gold during the Middle Ages.

1700 A.D. Gold is discovered in Brazil, which becomes the largest producer of gold by 1720, with nearly twothirds of the world’s output. Isaac Newton, as Master of the Mint, fixes the price of gold in Great Britain at 84 shillings, 11 & ½ pence per troy ounce. The Royal Commission, composed of Newton, John Locke, and Lord Somers, recommends a recall of all old currency, issuance of new specie with gold/silver ratio of 16-to-1.

The gold price thus established in Great Britain lasted for over 200 years.

1744 A.D. The resurgence of gold mining in Russia begins with the discovery of a quartz outcrop in Ekaterinburg.

1787 A.D. First U.S. gold coin is struck by Ephraim Brasher, a goldsmith.

1792 A.D. The Coinage Act places the United States on a bimetallic silver-gold standard, and defines the U.S. dollar as equivalent to 24.75 grains of fine gold and 371.25 grains of fine silver.

1799 A.D. A 17-pound gold nugget is found in Cabarrus County, North Carolina, the first documented gold discovery in the United States.

1803 A.D. Gold is discovered at Little Meadow Creek, North Carolina, sparking the first U.S. gold rush.

1804 A.D. –1828 A.D. North Carolina supplies all the domestic gold coined by the U.S. Mint in Philadelphia for currency.

1816 A.D. Great Britain officially ties the pound to a specific quantity of gold at which British currency is convertible.

1817 A.D. Britain introduces the Sovereign, a small gold coin valued at one pound sterling

1830 A.D. Heinrich G. Kuhn announces his discovery of the formula for fired-on Glanz (bright) Gold. It makes Meissen gold-decorated china world famous.

1837 A.D. The weight of gold in the U.S. dollar is lessened to 23.22 grains so that one fine troy ounce of gold is valued at $20.67.

1848 A.D. John Marshall finds flakes of gold while building a sawmill for John Sutter near Sacramento, California, triggering the California Gold Rush and hastening the settlement of the American West.

1850 A.D. Edward Hammong Hargraves, returning to Australia from California, predicts he will find gold in his home country in one week. He discovered gold in New South Wales within one week of landing.

1859 A.D. Comstock lode of gold and silver is struck in Nevada.

1862 A.D. Latin Monetary Union is established setting fineness, weight, size, and denomination of silver and gold coins of France, Italy, Belgium and Switzerland (and Greece in 1868) and obligating all to accept each  other’s current gold and silver coins as full legal tender.

1868 A.D. George Harrison, while digging up stones to build a house, discovers gold in South Africa – since then, the source of nearly 40% of all gold ever mined.

1873 A.D. As a result of ongoing revisions to minting and coinage laws, silver is eliminated as a standard of value, and the United States goes on an unofficial gold standard.

1887 A.D. A British patent is issued to John Steward MacArthur for the cyanidation process for recovering gold from ore. The process results in a doubling of world gold output over the next twenty years.

1896 A.D. William Jennings Bryan delivers his famous “Cross of Gold” speech at the Democratic national convention, urging a return to bimetallism. The speech gains him the party’s presidential nomination, but he loses in the general election to William McKinley.

1898 A.D. Two prospectors discover gold while fishing in Klondike, Canada, spawning the last gold rush of the century.

1900 A.D. The Gold Standard Act places the United States officially on the gold standard, committing the United States to maintain a fixed exchange rate in relation to other countries on the gold standard.

1903 A.D. The Engelhard Corporation introduces an organic medium to print gold on surfaces. First used for decoration, the medium becomes the foundation for microcircuit printing technology.

1913 A.D. Federal Reserve Act specifies that Federal Reserve Notes be backed 40% in gold.

1914 A.D. – 1919 A.D. A strict gold standard is suspended by several countries, including United States and Great Britain , during World War I.

1925 A.D. Great Britain returns to a gold bullion standard, with currency redeemable for 400-ounce gold bullion bars but no circulation of gold coins.

1927 A.D. An extensive medical study conducted in France proves gold to be valuable in the treatment of rheumatoid arthritis.

1931 A.D. Great Britain abandons the gold bullion standard.

1933 A.D. To alleviate the banking panic, President Franklin D. Roosevelt prohibits private holdings of all gold coins, bullion, and certificates.

1934 A.D. The Gold Reserve Act of 1934 gives the government the permanent title to all monetary gold and halts the minting of gold coins. It also allows gold certificates to be held only by the Federal Reserve Banks, putting the U.S. on a limited gold bullion standard, under which redemption in gold is restricted to dollars held by foreign central banks and licensed private users. President Roosevelt reduces the dollar by increasing the price of gold to $35 per ounce.

1935 A.D. Western Electric Alloy #1 (69% gold, 25% silver, and 6% platinum) finds universal use in all switching contacts for AT&T telecommunications equipment.

1937 A.D. The bullion depository at Fort Knox, Kentucky, is opened.

1942 A.D. President Franklin D. Roosevelt issues a presidential edict closing all U.S. gold mines.

1944 A.D. The Bretton Woods agreement, ratified by the U.S. Congress in 1945, establishes a gold exchange standard and two new international organizations, the International Monetary Fund (IMF) and the World Bank. The new standard involves setting par values for currencies in terms of gold and the obligation of member countries to convert foreign official holdings of their currencies into gold at these par values.

1945 A.D. Gold-backing of Federal Reserve Notes is reduced by 25.5%

1947 A.D. The first transistor is assembled at AT&T Bell Laboratories. The device uses gold contacts pressed into a germanium surface.

1954 A.D. London gold market, closed early in World War II, reopens.

1960 A.D. AT&T Bell Laboratories is granted the first patent for the invention of the laser. The device uses carefully positioned gold-coated mirrors to maximize infrared reflection into the lasing crystal. The European Rheumatism Council confirms intravenously administered gold is an effective treatment for rheumatoid arthritis.

 1961 A.D. Americans are forbidden to own gold abroad as well as at home. The central banks of Belgium, France, Italy, the Netherlands, Switzerland, West Germany, the United Kingdom and the United States form the London Gold Pool and agree to buy and sell at $35.0875 per ounce.

1965 A.D. Col. Edward White makes the first space walk during the Gemini IV mission, using a gold-coated visor to protect his eyes from direct sunlight. Gold-coated visors remain a standard safety feature for astronaut excursions.

1967 A.D. South Africa produces the first Krugerrand. This 1- ounce bullion coin becomes a favorite of individual investors around the world.

1968 A.D. London Gold Market closes for two weeks after a sudden surge in the demand for gold.

The governors of the central banks in the gold pool announce they will no longer buy and sell gold in the private market. A two-tier pricing system emerges: official transactions between monetary authorities are to be conducted at an unchanged price of $35 per fine troy ounce, and other  U.S. Mint terminates policy of buying gold from and selling gold to those licensed by the U.S. Treasury to hold gold. Gold-backing of Federal Reserve Notes is eliminated. Intel introduces a microchip with 1,024 transistors interconnected with invisibly small gold circuits.

1970 A.D. The charge-coupled device is invented at Bell Telephone Laboratories. First used to record the faint light from stars, the device, which uses gold to collect the electrons generated by light, eventually is used in hundreds of civilian and military devices, including home video cameras.

1971 A.D. On August 15, U.S. terminates all gold sales or purchases, thereby ending conversion of foreign officially held dollars into gold; in December, under the Smithsonian Agreement signed in Washington, U.S. devalues the dollar by raisin g the official dollar price of gold to $38 per fine troy ounce. The colloidal gold marker system is introduced by Amersham Corporation of Illinois. Tiny spheres of gold are used in health research laboratories worldwide to mark or tag specific proteins to reveal their function in the human body for the treatment of disease.

1973 A.D. On February 13, U.S. devalues the dollar again and announces it will raise the official dollar price of gold to $42.22 per fine troy ounce. Dollar-selling continues, and finally all currencies are allowed to “float” freely, without regard to the price of gold. By June, the market price in London has risen to more than $120 per ounce. Japan lifts prohibition on imports of gold.

1974 A.D. Americans permitted to own gold, other than just jewelry, as of December 31.

1975 A.D. The U.S. Treasury holds a series of auctions at which is accepts bids for gold in the form of 400-ounce bars. In January, 754,000 troy ounces are sold and another 499,500 more in June.

1975 A.D. Trading in gold for future delivery begins on New York’s Commodity Exchange and on Chicago’s International Monetary Market and Board of Trade. The Krugerrand is launched on to the U.S. Market.

1976 A.D. The Gold Institute is established to promote the common business interests of the gold industry by providing statistical data and other relevant information to its members, the media, and the public, while also acting as an industry spokesperson.

1976 A.D. –1980 A.D. IMF sells one-third of its gold holdings, 25 million troy ounces to IMF members at SDR 35/ounce in proportion to members’ shares of quotas on August 31, 1975, and 25 million troy ounces at a series of public auctions for the benefit of developing member countries.

1978 A.D. - 1980 A.D. U.S. Treasury sells 15.8 million troy ounces of gold to strengthen the U.S. trade balance.

1978 A.D. Amended IMF articles are adopted, abolishing the official IMF price of gold, gold convertibility and maintenance of gold value obligations; gold is eliminated as a significant instrument in IMF transactions with members; and the IMF is empowered to dispose of its large gold holdings. By Act of Congress, the U.S. abolishes the official price of gold. Member governments are free to buy and sell gold in private markets.

1978 A.D. A weak U.S. dollar propels interest in gold, aided by such events as the U.S. recognition of Communist China, events in Iran and Sino-Vietnamese border disturbances. U.S. Congress passes the American Arts Gold Medallion Act, representing the first official issue of a gold piece for sale to individuals in almost half a century. Japan lifts ban on gold exports, touching off a “gold rush” among investors who can sell as well as buy.

1979 A.D. The Canadian 1-ounce Maple Leaf is introduced.

1980 A.D. Gold reaches intra-day historic high of $870 on January 21 in New York and by year-end closes at $591.

1981 A.D. Treasury Secretary Donald Regan announces the formation of a Gold Commission “to assess and make recommendations with regard to the policy of the U.S.  government concerning the role of gold in domestic and international monetary systems.” The first space shuttle is launched, using gold-coatedimpellers in its liquid hydrogen fuel pump.

1982 A.D. Congress passes Olympic Commemorative Coin Act, which includes issuing the first legal tender U.S. gold coin since 1933.

1982 A.D. U.S. Gold Commission report recommends no new monetary role for gold, but supports a U.S. gold bullion coin. New gold deposits are discovered in North America and Australia. Canada introduces the fractional Maple Leaf coins in sizes of 1/4 ounce and 1/10 ounce. China introduces the Panda bullion coin.

1986 A.D. The first new gold jewelry alloy this century, 990- Gold (1% titanium) is introduced to meet the need for an improved durability of 99% pure gold traditionally manufactured in Hong Kong. The very malleable alloy is easily worked into intricate design, but can be converted into a hard, durable alloy by simply heating it in an oven. The American Eagle Gold Bullion Coin is introduced by the U.S. Mint. Treasury resumes purchases of newly mined gold.  Goldcorp Australia issues the Nugget gold bullion coin. Gold-coated compact discs are introduced. The goldcoated discs provide perfection of reflective surfaces, eliminate pinholes common to aluminum surfaces, and exclude any possibility of oxidative deterioration of the surfaces.

1987 A.D. British Royal Mint introduces the Britannia Gold Bullion Coin. World stock markets suffer sharp reversal on October 19; volatile investment markets increase gold trading activity. The World Gold Council is established to sustain and develop demand for the end uses of gold.

1988 A.D. The international media report huge gold purchases by a “mystery” buyer, later reveled to be the Japanese government in preparation for the minting of a major commemorative coin. This coin, honoring the sixtieth anniversary of Emperor Hirohito’s reign, is issued in November.

1989 A.D. Austria introduces the Philharmoniker bullion coin.

1990 A.D. United States becomes the world’s second largest gold producing nation.

1992 A.D. World Gold Council introduces the Gold Mark as an international identification mark for gold jewelry

1993 A.D. Germany lifts its value added tax restrictions on financial gold, causing a resurgence of private demand of gold. India and Turkey liberalize their gold markets.

1994 A.D. Russia formally establishes a domestic gold market.

1996 A.D. The Mars Global Surveyor is launched with an onboard gold-coated parabolic telescope-mirror that will generate a detailed map of the entire Martian surface over a two-year period.

1997 A.D. Congress passes Taxpayers Relief Act, allowing US Individual Retirement Account holders to buy gold bullion coins and bars for their accounts as long as they are of a fineness equal to, or exceeding, 99.5% percent gold.

1999 A.D. The Euro, a pan-European currency, is introduced, backed by a new European Central Bank holding 15% of its reserves in gold.

2000 A.D. Astronomers at the Keck Observatory in Hawaii use the giant gold-coated mirrors of the most detailed images of Neptune and Uranus ever captured.

2002 A.D. The Gold Institute’s Board of Directors votes to dissolve the association and consolidate its activities within the National Mining Association, effective January 1, 2003. The decision was made against the backdrop of consolidation in the gold sector and changes in the general business climate.





Turdle GG's picture

ewc58. I know how Jim Comiskey must be feeling right now...

b/c I used to work for Lehman Brothers

Watching your employer die is a nasty experience.

Perhaps Turd can employ him?!

Green Lantern's picture

I love it.  Gender wars on

I love it.  Gender wars on the night shift.    

Speaking of men, women, red crosses, and legal tender laws, I thought I'd keep the non-relevancy alive.

silver foil hat's picture

Ni / H cold fusion...

this has been tested.... I heard of this months ago and supposedly it is so simple a device to build, anyone with some knowledge of welding can put one of these machines together. In fact, there are some garage mechanics that claim they have a working device in their barn on a farm.

Anyway... here's more information.

It does produce some radiation, but the radiation isn't enough to penetrate a small amount of lead, or I think around two feet of concrete.  The device that would power a home would take up roughly 2-3 cubic feet.... and produce 7 kw by early estimation.

Here's a 12 minute video while PMs tick up (note to mods... mentioning "PM" now makes this a PM post... lol)

If someone starts a thread on the forums, then we can track this there. No doubt TPTB would NOT want this to get widely used... oil would be relegated to producing jet fuel. That's about it. OK, maybe grease for wheel bearings too. But not much more.

I wonder if Ghadaffi was going to fund this? (OK, now this should go on the conspiracy forum). But in all seriousness, perhaps oil's time is ending... and so the petro-oil dollar. But before it does, under "legal tender" laws, Benny can print for the FED to buy up all debts, own all real estate, etc. so the sheeple will still have to pay (work) for TPTB. By owning the very earth.... well then, who needs oil revenues?

redwood's picture

Salinas - Gaddafi killed over gold currency

"Thinking about it a little bit more, what happened to Mr. Gaddafi, many speculate the real reason he was ousted was that he was planning an all-African currency for conducting trade.  The same thing happened to him that happened to Saddam because the US doesn’t want any solid competing currency out there vs the dollar.  You know Gaddafi was talking about a gold dinar."

¤'s picture


Just catching up after that massive format job I  just wallpapered the board with. Sorry folks.

Pretty funny comment on the new island and who might be on it laugh   

Always try and occupy the high ground  or at least be aware where it is around you is a good rule of thumb.

Hey...just noticing the spell check is gone. Everyone's missing?

I Run Bartertown's picture

You guys rock

Thanks for the heads up on tomorrow's E Cat test. enlightened

That's something interesting to follow. Great example of the wonderful off-topic-ness I love here ( the distance...some fool cries 'that's not about the gold market...blah, blah'..stfu)

Eric Original's picture


Great stuff there, but I'm going to come to the aid of my Canadian friends and point out one glaring error.

The Klondike Gold Rush was in Canada.  The Yukon Territory to be exact.

It's a popular error to make for two reasons:

1) The most used route to get there started in Alaskan ports, then went inland and over the border into the Yukon.

2) A lot of Americans don't know dick about history or geography, and pretty much ignore Canada to begin with.

ewc58's picture

FGMR review of Jim Rickards' new book


“Currency Wars”

October 27, 2011 – It was my good fortune to receive an advance copy of Jim Rickards' new book, “Currency Wars”.  It is a great book, and I highly recommend it.

The book is split into three parts, with the first part being almost surreal because it reads more like a novel than non-fiction.  It details Rickards’ participation in an exercise at the Warfare Analysis Laboratory near Washington D.C.  This group is one of the Defense Department’s leading venues for war games and strategic planning, but in a first-ever event, the game in which Rickards joined was not a war-fighting simulation.  Rather, several dozen people from the military, academic and intelligence communities fought a global financial war using currencies and capital markets to support national interests.  Rickards and two colleagues were invited to give the simulation some real-world, Wall Street expertise about markets, which they certainly did. 

I guarantee that when you start reading this part, you won’t put the book down until you learn the outcome of the war.  It reads better than a suspense novel, even though the ending is somewhat anti-climactic and predictable.  While I won’t spoil it for you by divulging the ending, I will note that gold has a big role to play.  In fact, gold reappears throughout the whole book. 

In the second section, Rickards analyzes the first two currency wars (CWI and CWII).  He provides an interesting historical account of the global monetary twists and turns, ups and downs that marked much of the twentieth century, with keen insight into the motivations why these currency wars were fought.  CWI lasted from 1921 to 1936.  Even though CWII came much later – from 1967 to 1987 – both wars were fought by competing national interests, which brought into the battle competitive devaluations and other interventionist actions of government.  It is noteworthy that currency wars are a product of the post-Classical Gold Standard period that began in the aftermath of World War I, when the monetary role of government began to morph, as gold was driven out of day-to-day circulation, and then expand in new ways never before seen.

The final section of the book explains why the world is now fighting Currency War III, which Rickards believes began in 2010.  He speculates that there are three possible outcomes from CWIII – paper, gold or chaos.  Each of these alternatives is analyzed in detail, providing readers with much food for thought..."

Read more

backseatdriver's picture


Someone posted an awesome video of the entire minting process of that coin last night on the main thread. It was fascinating to see how many man hours went into the creation of such a behemoth coin. It is quite awesome though.

I wonder what the S/H is on that?


Economical Disaster's picture

Talking To Americans: Rick Mercer On CANADA

2) A lot of Americans don't know dick about history or geography, and pretty much ignore Canada to begin with.

CANADA's Prime Minister is Prime Minister Poutine and we have 1 million people...we also have just legalized VCR's and Staplers! Capital of CANADA is TORONTO!

wanab's picture

do we need any other reason

do we need any other reason not to buy gold?


Turdle GG's picture


just watched the video.   wow, what a job!

ewc58's picture


I used to sell to the Lehman IT/telecom team located in Jersey City, right across from downtown Manhattan. I used to visit them via the PATH train from Liberty Street. On nice days we'd go on the ferry at least one way...

It was a shame to see what happened to the people and the company. I've not heard good things from my remaining contacts about the culture or the way things are run under Barclays.... Big shock there, they are scum of the earth... a City of London criminal outfit and an integral cog in Global Asset Strippers, Inc.

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