Holding Down the Fort

73
Tue, Aug 5, 2014 - 11:09am

When I was in graduate school, we lived in an old apartment building in Syracuse where the landlord repaired holes in the wall with glue, notebook paper, and a thin layer of plaster. The nine year old girl next door pointed it out to us. The kids would accidentally lean on the “patch” and it would crack. What appeared to be a good fix was woefully inadequate and revealed much about the character and skill of that owner. Looked good on the surface!

The practice of Rhetoric is best viewed as a discursive art dealing with power—the power to control people without coercion. The main venues are politics and the consumer based economy –an unholy blending of corporate profits and political influence. In its essence, rhetorical discourse creates a vision of what the future "could be." Rhetorical visions enable people to “see” the future and then act NOW on that version of the future to bring it to pass. When we see something, either with our eyes, or in our mind’s eye, we have thoughts that inspire feelings about those thoughts. Far too many of us react to the feelings with some action we believe will satisfy the demands of the emotion. Too often those emotions are fear and greed, demanding us to get out or dive into the markets. Upon seeing the silver chart diving into the red, we think “Oh no!” then feel fear that we will lose our labor and sweat stored there. Seeing the red bar on the chart starts the whole process. The unrealized loss becomes a perceived reality. And perhaps we act act—either by selling out or walking away in disgust…or both.

The process is not all bad. When I first saw my wife, I quickly developed a rhetorical vision and walked over and introduced myself and began a conversation—one that has continued 27 years now.

The rhetorical vision of the precious metals markets in 2010-2011 brought a distant dream near to us with arguments for silver strength coming from various directions, including a couple of cartoon bears. As Max Kaiser jumped in and repeated “Crash JPM” with a chorus of other hawkers chanting “silver to the moon,” and “parabolic,” we watched the price rise to nearly 50 before illegal actions put a cap on the rally and dashed our visions of future wealth as AG might have shot up into multiple hundreds per ounce. The bullish chart provided the kicker to get us into action—Buy! Borrow money to buy! Our own greed and fear of missing out elicited emotions that put our hands to the task. . In a very real sense, our vision was not wrong—it was just overwhelmed by a multi-headed system that stepped in to oppose a reified trend. They were more powerful than the metal bulls.

I am sure that most of us here watched the events of May 1 2011 in horror. Many regulars of this blog became noticeably upset in the following months and years, venting here on this blog. For a while, when silver was still in the 40s, we all knew that one piece of news, one black swan, could send it right back to 50. But as the months continued to pass, as the high of Feb 2012 of $36 was knocked back, as Turd ate his hat, and as we faced a price in the teens, the visuals of account balances and the clearly down-trending charts pushed many into a space of negative emotions and kept them there.

I had to change my perspective to stay sane and keep my hands strong.

  • I started selling enough metal each year to take the allowable loss on taxes.
  • I began focusing on other ways to earn fiat.
  • I cut way back on my trading
  • I transformed metals from an investment to insurance in my mind.
  • I cost averaged as I could afford to buy back when that teen-handle was just too tempting (like it is with AG today)

And so I have held on to a significant portion of my stack, as have most of you. And there is no shame when one needs to liquidate a holding to keep the family budget intact.

Most of us here see a bigger picture now, a picture that Craig saw from day one and embedded in his motto for the site “The end of the great Keynesian experiment is upon us.” I hope we all see that today and are not here simply to trade and make fiat. But the question in the back of all of our minds now is “When?” when will things change? We have become less fixated on making fiat and more concerned about surviving the transition into a new economy—and hoping to come out ahead in the process. At least I still hope that. Don’t you?

But I am weary of waiting. The stakes of this economic crisis are so overwhelming that I have trouble visualizing them:

  • Societal collapse?
  • Martial law?
  • Greater Depression?
  • Currency reset?
  • World war?
  • An extended recession that becomes a new normal?

Even though our soulless leaders promise it every day, this economy has not and will not “recover.” They broke the economy with their asinine monetary policy and now the same cohort of Keynesophile academics are using their unproven, specious, even absurd, theories to repair it, then declaring it repaired and using bogus statistics and other dirty rhetorical tricks to persuade the generality of citizens that all is well. Even as I type on the morning of August 5th, 20114, I am watching the big metal sellers relentlessly pound away at gold and silver with heavy volume, pushing price down while the news runs headlines of war, economic uncertainty, and wondering if LeBron has lost weight.

But the economy is not well and I am tired. I don’t care about LeBron’s weight. I cannot quite go back to life as normal, though I have decided to dedicate a portion of my earnings to enjoying life while we can.

I am not wealthy enough to support two homes, to buy and hold that bug-out property outright without good cause (like a realtime collapse) that prompts me to sell the stack and actually move in. The wife wants to pay off our current home…not a bad idea. I almost sold the stack to obtain a property two months ago. Several astute members here hit me with ideas that made me reconsider—besides, other buyers got to it first.

My daughter wants to take a European vacation and see the sights. I’d like that too, being an intellectual and all, but it would probably cost quite a few ounces of gold.

So metals are capped, the black swans are shot down as soon as they appear, canaries are quickly removed, governments lie about the economy, the mass media buries any news that does not rhetorically promote the Agenda. Meanwhile, things are clearly getting increasingly tenuous. The mainstream rhetoric from politicians, news directors (who are directed), and corporations continues to construct a rhetorical vision of recovery, well-being, and promote a self-medicating lifestyle to keep us all happy and nearly satisfied. Most people see that rhetorical vision and act on it—borrowing and spending into the arms of large corporations.

Until we see some form of collapse, or at least a clear and public indicator that we are quickly sliding into deeper poverty, I am stuck, prepping as best as I can, trying to stack a bit more, trying to enjoy life and keep the family sane. It is very tiring and makes me want to throw in the towel, as many have done, and pretend along with the rest of the world that things are looking up!

As prices remain stagnant in the face of societal deterioration, economic malaise, and our own self-imposed impoverishment so that we can own metals, we who see the bigger picture, who see through the sophistry of the media and its masters, we begin to imagine a dismal future where everyone else is enjoying life, while we keep stacking and crying “wolf” about all the potential threats we see.

I am determined to keep holding my stack and keep living. My stack will keep growing while I enjoy life with my family, with one eye on the good life, but the other on real economic indicators.

I hate this waiting game, but we are stuck with it. And as long as the media and its masters keep the rhetorical vision alive, print money to paper over all the problems

  • Live. Love. Laugh.
  • Enjoy life and be ready for change.
  • Stay at your post
  • Stack ‘n prep

And while we do these things, our own rhetorical vision of increasing metals prices, someday, will continue to bring that future near to us, inspiring us to act with steadfast strong hands. So I’ll contribute to that vision by citing Bill Murphy:

“But, more importantly, for those who read this, it is also leading to an extraordinary investment opportunity … that being an explosion in the gold and silver markets. Because of The Gold Cartel, their prices have been forced down to artificially low levels. If the price of gold had just kept up with inflation, that price would be at least DOUBLE what it is today. The price of silver reached $50 thirty four years ago, and just about that a little over three years ago. It won’t be too long before that level is taken out with $100 an ounce as the next target.”

Even as I read this, I am getting weary of our old rhetorical vision. That all sounds nice, but I stack out of a need for survival. And I have noticed that my friends are more open to conversations about holding onto their hard earned wealth than ever before. I strive for a meeting of the minds with them, knowing I cannot move them to where I am all at once. They need to make that decision on their own. But perhaps that is the rhetorical vision we should build instead of “silver to the moon.”

About the Author

  73 Comments

  Refresh
erewenguy
Aug 6, 2014 - 8:21am

Gold up 1%. Time to firmly

Gold up 1%. Time to firmly affix the cap. Don't want disruptive markets and all....

SilveryBlue
Aug 6, 2014 - 7:45am

Well Done Dr J

I too am tired, but I started way later than most here, so kudos to the lifers ;-)

My route to PM was as a result of reading about the finance industry I work in. The growing horror as I delved into the whys & wherefores of the GFC led me here & an interest in stacking (minimal fiat available)

I set an outrageous (then) target for myself and started stacking. Gold was too expensive, so silver it was. I got to my target & started to breathe a bit easier. I have been DCA all the way down and I have always considered it to be absolutely necessary insurance as protection for my family.

I have never had aspirations to make a windfall fortune. Now that I feel comfortable I am starting to apply my fiat in other directions. There is no use by date on my metal, so I don't need to worry about rotating stock. I am starting to assist #1 child with (to my mind) overly large mortgage exposure. It is better off reducing stress to new homeowners than sitting in a bank.

However things turn out, I will still have the raw material to produce my own colloidal silver - which I consider to be a side blessing of this whole adventure. Plus at least one of my children appreciates shiny goodness and self sufficiency. Who would've guessed it?

amarula4Spartacus Rex
Aug 6, 2014 - 7:40am

Prices going down equals deflation, not

Prices go down for all sorts of reasons: loss of demand, excess supply, shopkeeper's stock clearance, increased manufacturing efficiency, government price capping, etc. This is not deflation. Decrease of the money supply is deflation - and it does not always lead to price decrease in a quick or easily or observable form. This reasoning (mutatis mutandis), also applies to its opposite, the dread inflation. Printed and minted monies can go into 'dark pools' and not get into circulation (measured by money velocity), so they do not cause inflation in visible price rises as they are not diluting the value of all existing circulating monies in circulation. Prices go up for all sorts of reasons, shopkeepers increase their margin because they can, etc, etc. Mike Maloney is good, but his definitions of terms are woefully lacking and confusingly applied. By his usage of terms, how can we ever distinguish between price rise due to shopkeepers increased margins or actual money supply expansion and its concomitant value dilution of the existing money supply? We cannot do it, so it should not be tried. Muddy waters folks, filtration and purification tabs required.

amarula4
Aug 6, 2014 - 7:31am

Blatant admission and proof of silver market manipulation herein

"...Max Kaiser jumped in and repeated “Crash JPM” with a chorus of other hawkers chanting “silver to the moon,” and “parabolic,” we watched the price rise to nearly 50...". Everything is manipulated all the time.

Spartacus Rex
Aug 6, 2014 - 4:21am

Global Silver Production Fits One Silver Pyramid

Gary Christenson August 6, 2014

Global annual silver production is approximately 820,000,000 ounces or a bit more than 25,000 metric tons. What does that mean in terms that we can more easily understand?

If the global annual mine production of silver were cast into one large silver pyramid, it would be approximately – wait for it – only 65 feet high on a base of only 65 feet square. Rather tiny! For future reference, this is one “silver pyramid.”

At current market prices, the global production of silver would be about $16 Billion. It is difficult to understand and appreciate what an 11 digit number means, so the equivalents for $16 Billion – the market value of global annual silver production – are approximately:

a) 6 days of Bernanke era Quantitative Easing at $85 Billion per month – you remember – digital dollars conjured from nothing for the supposed purpose of recapitalizing banks, levitating the stock market, and improving the US economy.

b) 7 days of average increase in the official US national debt.

c) 8 days of expenses for the US military

d) 21 days of crude oil imports into the US.

e) 7 months of bonuses for Wall Street.

f) 1 / 250th of the balance sheet of the Federal Reserve

Summary

The Federal Reserve was conjuring up enough dollars for QE to buy the equivalent of one silver pyramid every 6 days in the Bernanke era. In that context silver seems inexpensive and dollars seem overvalued.

The US military spends the equivalent of one silver pyramid about every 8 days and the official US national debt increases by one silver pyramid every 7 days. Borrowing and “printing” this many dollars cannot continue forever. Silver and gold will remain valuable long after the dollar has been inflated to near worthlessness.

Annual Wall Street bonuses are the equivalent of nearly two silver pyramids – nearly double the market value of the annual global production of silver.

Of course none of this means that the US spends too much or too little on Wall Street bonuses or the military, but it does make the current market price of global silver production look rather tiny by comparison.

I suspect that Wall Street bonuses and military spending will increase in the next five years. I also think the cost of one silver pyramid – the market price for global annual mine production – will increase substantially in the next five years – not because mine production will materially change, but because silver will be priced far higher in a few years.

https://goldsilverworlds.com/physical-market/global-silver-production-fi...

RockerBoxerSpartacus Rex
Aug 6, 2014 - 4:04am

Mike Baloney never  walked an

Mike Baloney never walked an iron beam above 8 feet, you go dude!

Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Spartacus Rex
Aug 6, 2014 - 4:00am

Mike Maloney: World Events Mean Deflation First, Then Inflation

Deflation Comes First, Then Inflation - Mike Maloney
RockerBoxer
Aug 6, 2014 - 3:53am

holdin' down the fort... just

holdin' down the fort...

just part of our trading day.

New York Documentary
Spartacus Rex
Aug 6, 2014 - 3:34am

Karen Hudes Is Keeping Busy...

1
[Logout] We have received your message Thank you for contacting the Department of Defense. We have received your message. We read every message and will take the appropriate actions in response to your question or comment. Use this reference number for follow up: #140804-000068 Further to my letter of July 16, 2014 to Captain James D. O’Leary:
From: karenhudes To: eds01[at]worldbank[dot]org; eds02[at]worldbank[dot]org; eds03[at]worldbank[dot]org; eds04[at]worldbank[dot]org; eds05[at]worldbank[dot]org; eds06[at]worldbank[dot]org; eds07[at]worldbank[dot]org; eds08[at]worldbank[dot]org; eds09[at]worldbank[dot]org; eds10[at]worldbank[dot]org; eds11[at]worldbank[dot]org; eds12[at]worldbank[dot]org; eds13[at]worldbank[dot]org; eds14[at]worldbank[dot]org; eds15[at]worldbank[dot]org; eds16[at]worldbank[dot]org; eds17[at]worldbank[dot]org; eds18[at]worldbank[dot]org; eds19[at]worldbank[dot]org; eds20[at]worldbank[dot]org; eds21[at]worldbank[dot]org; eds22[at]worldbank[dot]org; eds23[at]worldbank[dot]org; eds24[at]worldbank[dot]org; eds25[at]worldbank[dot]org; oskarstruck[at]gmail[dot]com; sekretariat[dot]gp[at]nbp[dot]pl CC: pbeauregard[at]worldbankgroup[dot]org; amarcelis[at]worldbankgroup[dot]org; lcespedes[at]worldbank[dot]org; smcgrath[at]worldbank[dot]org Subject: The US Treasury Dollars on Deposit in Union Bank of Switzerland Date: Mon, 4 Aug 2014 18:40:39 -0400 Dear World Bank Whistleblower,
Thanks for the heads' up. The Banking Cartel identified as the "network of global corporate control" described here: https://arxiv.org/PS_cache/arxiv/pdf/1107/1107.5728v2.pdf thinks it runs the World Bank and not the World Bank's country members.
I have already made it clear that the World Bank's Articles govern this matter and that no staff member within the World Bank may intercept communications to the Board of Executive Directors. https://s3.amazonaws.com/khudes/general+assembly3.docx
This is to inform the World Bank's Executive Directors that the Authorized Signatory of the Global Debt Facility is presenting a request to withdraw the uncut US Treasury Dollars on deposit in Union Bank of Switzerland. https://s3.amazonaws.com/khudes/UBS+UNCUT.pdf These Treasury Dollars were printed by Ronald Reagan so that US taxpayers' dollars would not leave the United States in payment of usury on the Federal Reserve Notes. The Federal Reserve is part and parcel of the private Banking Cartel that thinks it is above the law. It is being whittled down to its proper size under the bankruptcy laws of the World Bank member countries in which the respective central banks are located.
2
The 205,000 metric tonnes of gold on deposit in Union Bank of Switzerland https://s3.amazonaws.com/khudes/UBS-H.Grob.pdf is being withdrawn in order to mint the countries' currencies pursuant to the Monetary Agreements https://s3.amazonaws.com/khudes/breakthrough.pdf https://s3.amazonaws.com/khudes/ltokyoembassies3.pdf
The Bretton Woods institutions were created in order to instill the rule of law in the world's international monetary system, pursuant to paragraph 6 of the Bilateral Minesfield Breakthrough Successor Agreement. https://s3.amazonaws.com/khudes/BILATERAL.pdf The US military authorities are now cooperating with our allies, including Germany, to maintain order during this transition. The Bank for International Settlements' scheme to embroil the world in WWIII, crash the Federal Reserve Note, transfer US military might to China, and install a one world currency has failed https://s3.amazonaws.com/khudes/Twitter8.1.14.pdf
Sincerely,
Karen Hudes
Acting General Counsel
International Bank for Reconstruction and Development
Legal Counsel
Wolfgang Struck, Authorized Signatory under the Global Debt Facility
https://s3.amazonaws.com/khudes/Treaty+of+Versailles+Gold+Bullion+Certif...
On Tue, Aug 5, 2014 at 1:01 AM, World Bank Whistleblower wrote:
Hi Karen,
I finally made it to the "controlled" list. I understand that you are also tagged through a "spam" filter. Is this part of the process of declaring that I've committed misconduct? What is your experience of this spam order and being monitored by HR directly?
Hope you are doing well and thanks for your insights.
World Bank Whistleblower
---------- Forwarded message ---------- From: <Pbeauregard[at]worldbankgroup[dot]org> Date: Mon, Aug 4, 2014 at 10:58 AM Subject: Your e-mails to WBG staff To: World Bank Whistleblower Cc: Amarcelis[at]worldbankgroup[dot]org, lcespedes[at]worldbank[dot]org
Dear World Bank Whistleblower, Please be advised that your emails to the World Bank Group (WBG) have led to complaints of harassment experienced by various Bank staff.
3
Accordingly, your emails will be flagged by a 'spam' filter and routed to a special account, monitored by HR Corporate Operations (HRDCO). Very truly yours, ........................................................................................................................... Philip H.M. Beauregard Sr. Human Resources Officer Corporate Operations Human Resources T +1 (202) 473-3169 M +1 (202) 459-7825 F +1 (202) 522-0327 E pbeauregard[at]worldbankgroup[dot]org W www.worldbank.org
From: karenhudes[at]hotmail[dot]com To: smcgrath[at]worldbank[dot]org CC: eds01[at]worldbank[dot]org; eds02[at]worldbank[dot]org; eds03[at]worldbank[dot]org; eds04[at]worldbank[dot]org; eds05[at]worldbank[dot]org; eds06[at]worldbank[dot]org; eds07[at]worldbank[dot]org; eds09[at]worldbank[dot]org; eds10[at]worldbank[dot]org; eds11[at]worldbank[dot]org; eds12[at]worldbank[dot]org; eds13[at]worldbank[dot]org; eds14[at]worldbank[dot]org; eds15[at]worldbank[dot]org; eds16[at]worldbank[dot]org; eds17[at]worldbank[dot]org; eds18[at]worldbank[dot]org; eds19[at]worldbank[dot]org; eds20[at]worldbank[dot]org; eds21[at]worldbank[dot]org; eds22[at]worldbank[dot]org; eds23[at]worldbank[dot]org; eds24[at]worldbank[dot]org; eds25[at]worldbank[dot]org; thirai[at]worldbank[dot]org; sekretariat[dot]gp[at]nbp[dot]pl Subject: The Banking Cartel is Not Above the Law Date: Thu, 10 Jul 2014 16:53:30 -0400
Dear Mr. McGrath, HR is not above the law either. The Board of Executive Directors and the Board of Governors run the International Bank for Reconstruction and Development, and not its staff. https://www.kahudes.net/wp-content/uploads/2012/05/8-ending-cover-up.pdf These letters carry the full faith and credit of the International Bank of Reconstruction and Development and the Global Debt Facility. https://s3.amazonaws.com/khudes/ltokyoembassies1.pdf https://s3.amazonaws.com/khudes/ltokyoembassiesoutoftokyo.pdf As shown by the correspondence attached to this letter, the Federal Reserve System is insolvent, and is about to be systematically wound down under the bankruptcy regimes in the World Bank's member countries. Sincerely, Karen Hudes
4
Acting General Counsel International Bank for Reconstruction and Development Counsel to Wolfgang Struck Authorized Signatory of the Global Debt Facility
From: karenhudes[at]hotmail[dot]com To: thirai[at]worldbank[dot]org; sekretariat[dot]gp[at]nbp[dot]pl Subject: The Banking Cartel is Not Above the Law Date: Thu, 10 Jul 2014 09:35:34 -0400
This was inexplicably deleted from my previous email to you: https://www.frank-webb.com/karen-hudes.html
From: karenhudes[at]hotmail[dot]com To: thirai[at]worldbank[dot]org; sekretariat[dot]gp[at]nbp[dot]pl Subject: The Banking Cartel is Not Above the Law Date: Thu, 10 Jul 2014 09:30:48 -0400
Dear Mr. Hirai,
There seems to be some confusion arising from an unauthorized statement on the World Bank website. The World Bank's staff must follow the World Bank's Articles of Agreement, and not otherwise.
For further instructions, please consult with Dr. Marek Belka, who is cc'd. Thank you for your prompt attention to this matter.
Sincerely,
Karen Hudes
Acting General Counsel
International Bank for Reconstruction and Development
Counsel to Wolfgang Struck, Authorized Signatory on the Global Debt Facility
080-6843-7509
Date: Thu, 10 Jul 2014 20:32:36 +0800 Subject: Re: FW: this went to the board of governors of the fed in washington From: Wolfgang Struck To: karenhudes Lars Schall; Wolfgang Struck
Karen,
5
As Lars Schall is on it with the Federal Reserve Bank of New York, could you ask him to please include these two attachments to his inquiry. We would love to hear what they have to say. Thank you.
Oh, by the way, you as my lawyer, could you please comment on the attached 1969 Deed of Assignment wherein Antonio Diaz a.k.a. Severino Garcia Sta. Romana transfers all claims in the Federal Reserve Bank to me via "Rev. Dr. Floro E. Garcia" who I represent.
Wolfgang
On Thu, Jul 10, 2014 at 7:54 PM, Karen Hudes wrote:
we shall see...
From: karenhudes To: Lars Schall Subject: RE: this went to the board of governors of the fed in washington Date: Thu, 10 Jul 2014 07:53:29 -0400
Dear Lars,
This is very good. Thought you'd like to see my latest Tweet, which was retweeted to 350,000:
Karen Hudes @KarenHudes · 4h
How to lose your job as the World Bank webmaster:
https://s3.amazonaws.com/khudes/Twitter7.10.14.1.pdf
and this comment, which is very consistent with the power transition model that is 90-95% accurate: https://kauilapele.wordpress.com/2014/07/07/david-wilcock-comment-on-the...
Best,
6
Karen
https://philosophyofmetrics.com/2014/02/18/sdrs-and-the-new-bretton-wood...
Date: Thu, 10 Jul 2014 11:43:19 +0200 Subject: this went to the board of governors of the fed in washington From: larsschall To: lars Schall
friends, romans, countrymen! with the subject heading "Press Inquiry for Yvonne Mizusawa", this went to the press office of the fed in washington plus that of the ny fed: Dear Ms. Smith, may I ask you as the Press Secretary of the Federal Reserve in Washington DC to forward this press inquiry to Yvonne Mizusawa, Senior Counsel of the Board of Governors of the Federal Reserve System, please? I couldn't find a direct way for me to do this on my own. Thank you! Dear Ms. Mizusawa, yesterday I've wrote the following to the press office of the New York Fed:
Dear Ladies and Gentlemen,
I am a financial journalist from Germany. Related to this article:
https://www.larsschall.com/2014/07/09/are-the-12-regional-banks-of-the-f...,
I would like to know whether the NY Fed pays local property tax, and if it doesn't, on what ground does it claim exemption?
Moreover, may I ask you whether the NY Fed sees itself as a private entity as suggested in its response to the FOIA case “Bloomberg LP v. Board of Governors of the Federal Reserve System, 08-CV-9595, U.S. District Court, Southern District of New York (Manhattan)“? You find the quote to which I'm referring in the article above.
Furthermore, how does the NY Fed respond to the statement by Yvonne Mizusawa, Senior Council of the Board of Governors of the Federal Reserve System, that the regional banks of the Federal Reserve System are “private banks“? See also in the article above, please.
7
(...) May I ask you on the record: Why are the regional banks of the Federal Reserve System “private banks“? How do they differ from other private banks? Thank you for your attention! Kind regards, Lars Schall.
8
The World Bank 1818 H Street N.W. (202) 473-1000 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Washington, D.C. 20433 Cable Address: INTBAFRAD
INTERNATIONAL DEVELOPMENT ASSOCIATION U.S.A. Cable Address: INDEVAS
July 16, 2014
Captain James D. O’Leary
Defense Attaché 1-10-5 Akasaka Minato-ku, Tokyo 〒107-8420
Dear Captain O’Leary,
General Eisenhower had foreseen that the maturity date of the Global Debt Facility, whose authorized signatory I represent as legal counsel, would require an institutional presence. That is one of the mandates of the International Bank for Reconstruction and Development and International Monetary Fund for which the Bretton Woods institutions were duly established at the end of World War II. This is regularized in paragraph 6 of the Bilateral Minesfield Breakthrough Successor Agreement.
As discussed today with Acting Defense Attaché Col. Jon W. Walker, I have informed the Joint Committee under the Treaty of Mutual Cooperation and Security between Japan and the United States of America that the impending rift with Germany, as witnessed by the unfortunate incident last October in Frankfurt, when a military helicopter buzzed the US Consulate in Frankfurt, has been duly averted. Mr. Wolfgang Struck, the authorized signatory under the Global Debt Facility, has accomplished this by placing the Treaty of Versailles Gold Bullion Certificates, with an aggregate value exceeding the quadrillions of dollars, at the disposal of the Bretton Woods institutions for the purposes of bankruptcy proceedings in the various nations in which these banks are located.
The Board of Executive Directors and the Board of Governors of the Bretton Woods Institutions are also arranging for the transition from fractional reserve fiat currencies of their membership to gold coins, leaf and aurum, minted from the gold on deposit in the Global Debt Facility, which has been deposited and held in trust for the benefit of the citizens of the Bretton Woods institutions.
Sincerely,
Karen Hudes
Acting General Counsel
International Bank for Reconstruction and Development
Legal Counsel
Global Debt Facility
9
https://s3.amazonaws.com/khudes/BILATERAL.pdf https://s3.amazonaws.com/khudes/Fed+Gold+Bullion+Certificates.pdf

RockerBoxer
Aug 6, 2014 - 3:27am

Live. Love. Laugh....Doctor

Live. Love. Laugh....Doctor J,

Daft Punk - Lose Yourself To Dance

seriously? the night is young and you've got your stash in the rockies right? Up on Mount Robson!!!

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Key Economic Events Week of 7/6

7/6 9:45 ET Markit Service PMI
7/6 10:00 ET ISM Service PMI
7/7 10:00 ET Job openings
7/9 8:30 ET Initial jobless claims
7/9 10:00 ET Wholesale inventories
7/10 8:30 ET PPI for June

Key Economic Events Week of 6/29

6/30 9:00 ET Case-Shiller home prices
6/30 9:45 ET Chicago PMI
6/30 10:00 ET Consumer Confidence
6/30 12:30 ET CGP and SSHW to Capitol Hill
7/1 8:15 ET ADP Employment
7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 2:00 ET June FOMC minutes
7/2 8:30 ET BLSBS
7/2 10:00 ET Factory Orders

Key Economic Events Week of 6/22

6/22 8:30 ET Chicago Fed
6/22 10:00 ET Existing home sales
6/23 9:45 ET Markit flash PMIs for June
6/23 10:00 ET New home sales
6/25 8:30 ET Q1 GDP final guess
6/25 8:30 ET Durable Goods
6/26 8:30 ET Pers Inc and Spending
6/26 8:30 ET Core inflation

Key Economic Events Week of 6/15

6/16 8:30 ET Retail Sales
6/16 8:30 ET Cap Ute and Ind Prod
6/16 10:00 ET Chief Goon Powell US Senate
6/16 4:00 pm ET Goon Chlamydia speech
6/17 8:30 ET Housing Starts
6/17 12:00 ET Chief Goon Powell US House
6/18 8:30 ET Initial Jobless Claims
6/18 8:30 ET Philly Fed
6/19 8:30 ET Current Account Deficit
6/19 1:00 pm ET CGP and Mester conference

Key Economic Events Week of 6/8

6/9 10:00 ET Job openings
6/9 10:00 ET Wholesale inventories
6/10 8:30 ET CPI for May
6/10 2:00 ET FOMC Fedlines
6/10 2:30 ET CGP presser
6/11 8:30 ET Initial jobless claims
6/11 8:30 ET PPI for May
6/12 8:30 ET Import price index
6/12 10:00 ET Consumer sentiment

Key Economic Events Week of 5/25

5/26 8:30 ET Chicago Fed
5/26 10:00 ET Consumer Confidence
5/27 2:00 ET Fed Beige Book
5/28 8:30 ET Q2 GDP 2nd guess
5/28 8:30 ET Durable Goods
5/29 8:30 ET Pers Inc and Cons Spend
5/29 8:30 ET Core Inflation
5/29 9:45 ET Chicago PMI

Key Economic Events Week of 5/18

5/18 2:00 ET Goon Bostic speech
5/19 8:30 ET Housing starts
5/19 10:00 ET CGP and Mnuchin US Senate
5/20 10:00 ET Goon Bullard speech
5/20 2:00 ET April FOMC minutes
5/21 8:30 ET Philly Fed
5/21 9:45 ET Markit flash PMIs for May
5/21 10:00 ET Goon Williams speech
5/21 1:00 ET Goon Chlamydia speech
5/21 2:30 ET Chief Goon Powell speech

Key Economic Events Week of 5/11

5/11 12:00 ET Goon Bostic speech
5/11 12:30 ET Goon Evans speech
5/12 8:30 ET CPI
5/12 9:00 ET Goon Kashnkari speech
5/12 10:00 ET Goon Quarles speech
5/12 10:00 ET Goon Harker speech
5/12 5:00 ET Goon Mester speech
5/13 8:30 ET PPI
5/13 9:00 ET Chief Goon Powell speech
5/14 8:30 ET Initial jobless claims and import prices
5/14 1:00 ET Another Goon Kashnkari speech
5/14 6:00 ET Goon Kaplan speech
5/15 8:30 ET Retail Sales and Empire State index
5/15 9:15 ET Cap Ute and Ind Prod
5/15 10:00 ET Business Inventories

Key Economic Events Week of 5/4

5/4 10:00 ET Factory Orders
5/5 8:30 ET US Trade Deficit
5/5 9:45 ET Markit Service PMI
5/5 10:00 ET ISM Sevrice PMI
5/6 8:15 ET ADP jobs report
5/7 8:30 ET Productivity
5/8 8:30 ET BLSBS
5/8 10:00 ET Wholesale Inventories

Key Economic Events Week of 4/27

4/28 8:30 ET Advance trade in goods
4/28 9:00 ET Case-Shiller home prices
4/29 8:30 ET Q1 GDP first guess
4/29 2:00 ET FOMC Fedlines
4/29 2:30 ET CGP presser
4/30 8:30 ET Pers Inc and Cons Spend
4/30 9:45 ET Chicago PMI
5/1 9:45 ET Markit Manu PMI
5/1 10:00 ET ISM Manu PMI

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