Monday/Tuesday Reading/Watching List (updated with charts)

229
Mon, Apr 2, 2012 - 7:21pm

As I've gone through the day today, I've collected a list of articles and videos for you. When you have a few moments, dig in.

Let's start with, potentially, the biggest story of the day. It's not the largest headline but it's a development that may have lasting repercussions:

https://www.goldcore.com/goldcore_blog/brics-bank-rival-world-bank-and-imf-and-challenge-dollar-dominance

And here is the companion piece to that:

https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9180373/Robert-Zoellick-calls-for-Brics-bank.html

Next, the latest from JS Kim at SmartKnowledgeU

https://www.zerohedge.com/contributed/2012-14-02/nine-gold-myths-everyone-needs-understand-survive-global-economic-crisis

Our pal, Jim Quinn, has written another, very interesting article. Here is Part I:

https://www.theburningplatform.com/?p=32217

and here is Part II:

https://www.theburningplatform.com/?p=32480

And so has Jeff Nielson:

https://www.bullionbullscanada.com/gold-commentary/25300-sideways-precious-metals-prices-mean-its-not-too-late

Lastly, this video I found of Jim Grant. Shot in Washington DC last week, Jim takes about an hour to discuss and dissect the Federal Reserve. It's definitely worth your time to watch. WARNING: Jim is a brilliant, but somewhat dry, speaker. Do not watch while driving or operating heavy machinery as the following video is certain to produce drowsiness.

"What Does the Fed Do?" with James Grant -- Ron Paul Fed Lecture Series, Pt 2/3

And that's all for now. TF

9:55 am EDT UPDATE:

Just thought I might tag some updated charts onto this post and then start a new one later today, after the Comex close. On the charts below, you can clearly see the significance of 1680 in gold and 33 in silver. Now you know why those levels are being defended by The Forces of Darkness. Expect this to continue. It is my hope, however, that Comex buying will emerge again today, particularly after the London afternoon fix. Yesterday saw similar action so I'm hopeful that we'll see it again today.This would kick gold above 1680 again and silver would follow, up through 33. We need to consolidate those gains there and then begin to move away. Silver's next target would be 33.50-33.75 and gold would look to move on 1700. Lastly, note that the "smiles" I've been drawing on the 12-hour charts have just about used up their usefulness. Though I still fervently believe that the metals are forming rounded bottoms for this "correction", it appears unlikely that they will rebound as quickly as they sold off. But, since when is that news? It's always "the elevator down but the stairs up".

One last chart today...the S&P. The daily charts I print from the RJO site only show about 4 months worth of data so I've been waiting for this day as I knew the chart would only show price from the late November low until today. It's, frankly, astonishing. When have you ever seen a chart of anything that simply muddles along at a constant pace higher over four months? That this chart is of the S&P, the most-watched stock index in the world, makes it all the more ludicrous. Can anyone please tell me what, fundamentally, has occurred over the past four months to drive this index UP 25%, and in such a linear manner? Anyone? Anyone??? Nope, the perfectly-angled ascent (particularly the Jan-Feb timeframe where the index rose for 29 out of 41 days) is clear evidence of Fed interference and manipulation, all part of the increasingly desperate, ongoing campaign of MOPE and SPIN.

More later today. TF

About the Author

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  229 Comments

bernard
Apr 2, 2012 - 8:11pm

APMEX banks with JP Morgan

Why, oh why, does APMEX choose to bank with JP Morgan? Perhaps it has something to do with their offices being located in what once the Federal Reserve building in Oklahoma....

https://comparesilverprices.com/metals/boycott-apmex-they-are-in-bed-wit...

Dobocop
Apr 2, 2012 - 8:17pm

Thanks for the new thread

Reading the days posts it seemed like Turd's last thread got hijacked by trolls. Great post SRS informative as always.

Jager06
Apr 2, 2012 - 8:20pm

5%

I finally hit 5% of total assets in my physical metal holdings. Feels good, but now I want 10%....except every time I try to cross the river to my secret storage area, I tip the damn canoe and lose a bunch. I am going to have to wait for break up next month to try to get any of it back. I know where its at anyway and that counts for something....right?

And for the Convention...how about Anchorage during Rendezvous??? Plenty to see, plenty to do and lots of raw gold and furs for sale......

Roger Godberd SRSrocco
Apr 2, 2012 - 8:22pm

Get your facts straight

Doesn't take a neurosurgeon to check out some historical facts.

When the Brits landed in the Falklands in 1765 the only oil they could feasibly have been interested in was whale oil. As with the rest of the world it was mainly about exploration for strategic advantage over European competitors, plus a land grab, by force if necessary, when any worthwhile resources were discovered.

Empires throughout history have always utilised superior knowledge of technology to overpower exisiting indigenous civilisations or have you conveniently forgotten about the native Red Indians?

Of course the British took advantage whenever and wherever they could. As greedy western capitalists it would have been un-natural to fail to do so. The US has done exactly the same via the fiat USD.

Homo sapiens are aggressive, intolerant & tribal. Brits have these characteristics in spades.

So stick that in yer pipe an smoke it.

abguy4
Apr 2, 2012 - 8:25pm

Recovery - getting yur fair share?

"In 2010, as the nation continued to, "recover from the recession", (LMFAO)

a dizzying 93% of the additional income created in the country that year,

went to the top 1% - those with at least $352,000/yr income.

In the Clinton era, 45%of the total income gains went to the top 1%,

In the Bush ,"recovery", the figure was 65%,

now it is 93%.

Any more questions?

nytimes.com

abreik
Apr 2, 2012 - 8:29pm

Re: APMEX

That is interesting, and thanks for sharing. That won't affect my decision to purchase from APMEX though (which I might do eventually since they have a few semi-numis that I can't/won't get elsewhere). APMEX is a dealer, I don't think they really have any responsibility/desire to fight the banksters. If they choose to bank with the morgue, let them. They probably turn that into more physical inventory pretty fast anyway. I assume they are massively short SLV too since they make their money on premiums and not speculation (and need to hedge their on hand reserves). I won't fault them for shorting paper metal either (assuming they do that).

Dr G
Apr 2, 2012 - 8:33pm

Asking why APMEX (who I

Asking why APMEX (who I believe to be a terrible bullion company due to their outrageous prices) uses Chase to bank is no different than asking why that individual uses Wells Fargo to do their personal banking. Every bank is full of criminals and they are all terrible. They all prolong and cover the fiat ponzi scheme and continue to abuse bail-out monies that the TAXPAYERS gave to them. No, I'm not offended by APMEX using Chase. I'm offended by banks in general. A wise man once said I should be my own bank, or else I would be the road. Hmmm. Who was that...? EDIT: as the above poster said, I wouldn't be shocked if APMEX hedges by shorting paper. I think most large dealers probably have hedges in place.

Dr G
Apr 2, 2012 - 8:36pm

Let's have the convention in

Let's have the convention in Idaho and we can all work one of our gold claims. Gotta be down for some hard work though. Actually, my vote is for Vegas.

Big Rocks
Apr 2, 2012 - 8:43pm

Beer Recession!

Be prepared, i thought I'd chime in on the beer recession anomaly you. Brought up on the previous thread. It's Medical Marijuana! Both the alcohol and pharmaceutical industries Have seen their sales hurt due to the growth of MM in those states that have it. That is why Obama is cracking down on MM now after promising not to go after those in compliance with state laws. More examples of who your elected officials work for. Oh and btw traffic fatalities, DD arrests are also down in many of those same states.

Dobocop
Apr 2, 2012 - 8:45pm

Head and shoulders everywhere;-)

Every silver chart I look at from 30 days up looks amazing!

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