Fri, Apr 19, 2013 - 10:24am

I'm just generally tired, so I'm taking the day off. Here's an "open" thread.

If you haven't seen it yet, below is the CBC documentary, graciously supplied by "forwhomthetollbuilds". Very kind of him to take the time to record and upload. All three parts are below. Part III is the only one of real interest.

Obviously, the producers chose to exclude the information which I was hoping would finally begin to see the light of day. Thus the title of this post. I'll try to pick up my armor and rejoin the fight next week but, for now, I can't help but feel a bit dispirited.

Have a good day and try to remember to play nice, keeping in mind, of course, The Golden Rule.


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Apr 19, 2013 - 2:53pm

@ Groaner - Goldmart

I just got the same letter from Goldmart on my order of ASE's from April 4th. I'm mad that they are late since I had called and talked to them when I placed the order and was assured my item was it stock for immediate delivery! (as there website indicated)

I would expect a delay from them if I had ordered in the last two days since there website now shows "delayed" on ASE's

Apr 19, 2013 - 2:51pm

Death of the dollar

I believe that meeting in the white house was about the end of the dollar. For your consideration:

The following countries have bilateral deals with China for direct trade in Yuan or at the least a bypass of dollar use for trade:











Hong Kong

South Korea









I am sure that I have missed a few. Germany is the only glaring omission from this list. Resolution of this oversight will be taken care of in the near future.

All of this is well and good for China and the Yuan. Is it enough to dethrone the dollar as the world's reserve currency? No to me. It is the link to Saudi oil that locks in the status for the FRN/FPC of the United States, right? I read/heard from some jackass that the funeral for the dollar would include an eulogy from Saudi Arabia. To that, I did some digging and found the following:

China Petroleum & Chemical Corp., known as Sinopec Group, will hold a 37.5 percent stake in the US$10 billion refinery project slated to open in 2014.

First developed between Saudi Aramco and U.S. company ConocoPhillips in 2006, the project saw the exit of ConocoPhillips in April 2010 after the company announced it would focus on upstream oil exploration.


and this:

China could soon overtake the U.S. as the biggest importer of oil in the world. The oil cartel OPEC says the shift could happen as early as next year.

The reason is that the shale oil boom here at home has dramatically increased domestic production, reducing the need to import as much oil as we have been for the past several decades.

The U.S. based Energy Information Administration says Chinese imports could top 6 million barrels a day this year, while U.S. imports fall below that level next year.


Not just oil though:

China and the GCC are diversifying their bilateral relations beyond hydrocarbons. A new Silk Road is emerging as a force to be reckoned with economically and possibly in time also in political terms.

Charles Freeman, a former US ambassador to Saudi Arabia has commented: “The Arabs see a partner who will buy their oil without demanding that they accept a foreign ideology, abandon their way of life or make other choices they would rather avoid. They see (in China) a country that is far away and has no imperial agenda in their region, but which is internationally influential and likely in time to be militarily powerful.” (Emphasis mine)


I believe we are at the end of the current monetary paradigm.

Look over there! Terrorists...

Apr 19, 2013 - 2:49pm

@ Strongsidejedi

Thanks for taking the time to help out. I'm still a little confused on how and where the mints source their blanks or whatever it is they use. Those come from somewhere. There must be a processor in the mix someplace who takes delivery of the 1000 oz bars and converts them to blanks. They must be the one's buying in the market, whether at COMEX or directly from mines.

I can certainly see how the mines in this whole supply chain equation get the raw end of the deal. No wonder their stock prices are getting killed if their only outlet is COMEX and/or the price set at COMEX. They would be smart to bypass COMEX and negotiate longer-term deals directly. I'm sure they probably do that now with a percentage of their production. If one follows this supply chain step-by-step it shows how incredibly disruptive and distortive COMEX pricing can be for the whole supply chain. This takedown has been great for the buyers at the end of the supply chain looking for lower prices, while supplies last, but terrible for just about everyone else in supply chain. And once supply runs out, it isn't good for any one. At least anyone buying, processing or selling real physical silver. Now, the paper pushers, that is something else.

Apr 19, 2013 - 2:47pm

@ firstsilver

Dear Jim,

Just went by my main branch at Scotia. They are selling physical at a significant premium – $1400′s with low supply of 1 ounce and no 5 ounce. They also have a low supply of 10 ounce and long lines the last few days.

CIGA Mike A paste from Sinclair's site about ScotiaMocatta business....And here the gold pundit community was expecting to see paper gold and silver begin their topping out rallies in stage three of the bull market; instead we have artificial crashes and blatant rigging and a public PANIC and now UNDERSTANDING of what is afoot that brings the crowds out to buy... Somebody out there said that "this ain't like the 1970s". Yep. I wonder if there actually will be a stage three in paper prices... I really doubt it... We have probably topped out in the paper world. What we are probably seeing is that the demand for the physical metal by the big money interests are going to be emptying the vaults WELL before the little guys named SixPack get in gear...Note that the general public is STILL unaware,,,this buying is all about 2% of the population behaving in a rational way to a fractional reserve market crisis...And combined they will end up with the gold and silver LONG before the public wakes up....I expect the metal may disappear LONG before the price rises in appreciation... And how the heck could we expect the metal to return to the small retailers with the demand present from the big money and sovereign groups? So I read our favourite pundit folks and they are still talking about a bounce next week to start the recovery, and I DO NOT ask myself what TA is indicating,,,,or what the metal demand is like? I ask what I expect the PTB wish to achieve in the next few months and I come up with: they want more of the same...They will ramp the suppression, rig the paper markets down (now easier as they decline faster) and try to stave off a default on deliveries. In other words we are in a holding pattern for all strategic commodities prices until the wounded mechanism starts to break down more visibly. Unfortunately, this breakdown will probably come out of the blue in the form of a default out of London....So the FED has ordered a holding pattern on the paper prices as they too wait for the inevitable...This breakdown could happen next week. Are we supposed to believe that after this intervention - and a PUBLIC one is the appreciation here - is likely to see paper players on the COMEX and the LBMA rushing back to pick up positions in PAPER? Revealing how rigged these markets are to the public is now a disincentive for investing in paper...That helps the suppression. Ironically, IMO, we will see virtually all the metal disappear out of the retail sector long before the public wakes up...The smash down accomplishes this (CBC notwithstanding) and the message (from the CBC too?) is to stay away from the paper markets - thereby making the rig easier for the banks (and am I too cynical about the CBC documentary?). So this time will be different IMO from the 1970s....And although the super bulls expect a rapid recovery, I suspect we will top out this year at around mid $1700s gold paper price - in other words at the top channel line of that meaninglessly bullish flag formation again....So this is about paper still being in control and it will stay that way until there is a default or a market competitor like Shanghai Exchange starts trumping the paper price....Until that time the metal will drain in torrents out of London, and the metal will remain unavailable to the general public... They will miss the boat... That is the trend and the behaviors I am watching.. FWIW. G. .
California Lawyer
Apr 19, 2013 - 2:43pm

Excellent, Mr Attorney General

You are hereby nominated for a second term.

Apr 19, 2013 - 2:25pm

Great Post CalLaw!

We are witnessing things that are unparalleled in history at this pace.

Apr 19, 2013 - 2:16pm

California Lawyer

Sir, a very well crafted summary. A few of my neighbors are beginning to connect some dots. I've found over the years that the best way to wake people up is to ask them questions about obvious things they have come to accept but can't explain or defend.

I just emailed a C & P of your post to them to help them connect some of those dots.

They know something is very wrong, and it's starting to bother them.

You wordsmithing here is a great teaching tool. Thank you.

Apr 19, 2013 - 2:14pm

@KCAP = Thank you sir!

The force is with us!

John Galt
Apr 19, 2013 - 2:14pm

This Feels Very Ominous

Seeing thousands upon thousands of police and military massed together in one place, most of them standing around waiting for orders. The media is there too.

They are seeming searching for one guy, but give how calm things look there is little concern he's armed and holed up nearby.

It makes me wonder if the main stage for some grand finale is being prepped somewhere else, and a concerted effort is being made to keep the prying eyes of cameras etc far enough away while the last minute details get choreographed.

Fat Willie
Apr 19, 2013 - 2:09pm

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