The Latest From Mike Maloney

Once again, Mike Maloney and his crew at http://goldsilver.com have done a great service for the community. Here's the latest video in the Hidden Secrets of Money series.

This latest episode deals with the history of money. In it, Mike discusses how and why money and currency came into existence and he expertly explains why all fiat currency regimes eventually fail. Just for fun (?), Mike also shares his two biggest concerns for the future of freedom and free markets.

Please take the time to watch this video and then forward it on to your entire contact list. We must educate and enlighten as many as possible before it's too late.

TF

172 Comments

Dagney Taggart's picture

Godammit!

I want to post something and the "page unavailable" screen keeps popping up!

I'm going to post this 1 sentence at a time if I have to.

Dagney Taggart's picture

Wow! From Bron's Blog....

I have no idea how I came across this in such a stateless state of mind playing in the corner for 10 minutes.....

http://goldchat.blogspot.com/2013/11/so-who-are-the-liars-and-cartel.html

Dagney Taggart's picture

So who are The Liars and Cartel Apologists?

Craig Hemke (TF Metals Report) had a recent post where he asked:

"Who is Jeffrey Christian and what is his business? How about his pals ErikT, Bron and Kitco? What are their motives? What about sites like Screwtape and "personalities" like Kid Dynamite? Who supports them and what drives their interest? ... Who is Kid Dynamite? Who really are Jeanne d'Arc, the crew at Screwtape and the bloggers of the Kitco boards? What are their names and what are their real jobs? What is Jeffrey Christian's background and who are CPM Group's clients? Who are his sources and from where does he get his information? What is CPM's business model and how do they profit? How about Kitco and The Perth Mint? Perhaps they can explain how pooled, unallocated accounts work. I'm not alleging fraud or malfeasance but I do think that folks need to know where there might be conflicts of interest in this fight."

................

(continued at the link)

By the way, WTF regarding the 100 dollar ounce of silver? I’m embarrassed at our mint. So that's how it works now? Slap an arbitrary number on a piece of paper or metal and that's its value?

Dagney Taggart's picture

By the way

That's a nice continuation pennant on the GS ratio chart. Target 52-53.

Some boytoy whispering in my ear thinking he's going to get lucky told me to say this.

Mr. Fix's picture

If thank you for your persistence in trying to post Dagney

I have read this blog in the past, and sometimes it's nice to get a different perspective, but sometimes one just simply has to make a choice on who to agree with, and if it comes down to a choice between

Bron Suchecki and Craig,

I pick Craig.

PS,
stop blogging and enjoy your boy toy, you only live once.

Mr. Fix's picture

The plot thickens:

BREAKING NEWS: shelling of Russian Embassy in Damascus – click to read USA statement

U.S. DEPARTMENT OF STATE

Office of the Spokesperson

For Immediate Release November 28, 2013

2013/1491

STATEMENT BY JEN PSAKI, SPOKESPERSON

Shelling of the Russian Embassy in Damascus

 The United States condemns the shelling today that hit the Russian Embassy compound in Damascus and expresses its concern for those killed and injured in the incident. We condemn any attack against individuals or facilities protected by international law. The United States continues to emphasize that those responsible for atrocities on all sides must be held accountable.

Don't forget to read the comments, there are some real interesting theories there!wink

http://gretawire.foxnewsinsider.com/breaking-news/breaking-news-shelling-of-russian-embassy-in-damascus-click-to-read-usa-statement/

Mr. Fix's picture

The plot thickens here also:

China Declares "Willing To Engage In A Protracted Confrontation" With Japan As "Prime Target"

Following the to-ing and fro-ing of the last 2 days with US and Japan "testing" China's new Air Defense Zone (ADIZ), China has not only escalated (as we noted earlier) but as the day begins in Asia is stepping up the rhetoric significantly. Official media said that Japan is the "prime target" and it is an "urgent task for China to further train its air force to make full preparation for potential conflicts." Japanese lawmakers, meanwhile, are pushing for a bill "demanding an immediate withdrawal of China's ADIZ." While the Western world goes on its merry way buying S&P futures, China's concluding message rings its most defint so far, "We are willing to engage in a protracted confrontation with Japan. Our ultimate goal is to beat its willpower and ambition to instigate strategic confrontation against China."

Mr. Fix's picture

I can't even wrap my mind around the absurdity of this:

Bitcoin Now Worth More Than Gold

UPDATE: ... And then Bitcoin collapses 13% minutes later...

It seems the growing tensions in Asia (Japan-China sabre-rattling and Indian capital controls) have prompted more great rotation out of fiat and into digital currency as China/India markets open. For the first time ever, the price of one unit of Bitcoin exceeds the price of an ounce of gold...

 
SteveW's picture

@murphy: Privacy

Google is way behind Samsung and LG with their home invading spy TV's.

http://www.nbcnews.com/technology/your-tv-watching-you-latest-models-raise-concerns-483619

http://www.dailymail.co.uk/sciencetech/article-2513592/Is-TV-spying-YOU.html

Now where did I read about a two way vid screen in a novel I read in the late 50's?

JY896's picture

Nice find, Dagney

If you follow the bunny-trail to several rabbit holes Bron is leading us to, some of the things one may find:

- commentary on ScrewTape that show how well-knit the community that appears especially intent on discrediting TF (and AM, and GATA) seems to be:

http://screwtapefiles.blogspot.com/2012/09/slv-database-3.html (scroll down to comments section)

- some letters from 2002 that JC wants to pin to his hat as badges showing his courage at demanding tighter limits on OTC commodity contracts -- letter #1:

"CPM Group has focused on one small, mechanic issue which actually could vastly improve the
performance and safety of derivatives markets with little legislative or regulatory involvement in these
massive, international markets. The issue that we are focusing on, regulation-wise, is the fact that many corporations that purchase derivative contracts of various sorts do not fully understand the financial implications of hedges they undertake, regardless of whether they are currency, interest rate, commodity, or other hedges. This is compounded by obfuscatory practices by the issuing banks and financial institutions, which frankly limit the disclosure in their contracts and marketing documents to the minimum required by corporate law. As a result, prior to inception of these positions few purchasers of such derivatives have done the due diligence necessary to be able to know what the credit, revenue, and other financial implications for their
companies are under varying market scenarios."

Oooh. The only thing that is wrong with OTC derivatives is the fact that they are purposely opaque, and tend to fool the buyers/clients, rather than the competition. OK. Avantgarde, mold-breaking assertions there in the defense of the little guys, CPM.

The second letter is better, but likewise has little to do with manipulation, the size of positions or who controls the markets -- and seems mostly intent on distancing its writer from the likes of Enron:

"It is particularly stunning that the Administration would seem to be attempting to protect the ability to distort the financial pricing systems involved in these derivatives at this time, when major sellers of derivatives are being investigated or already stand accused of the most egregious and reprehensible lies and distortions in the pricing of energy derivatives, including the outright and simple falsification and lying about the market prices of derivatives to major customers."

KD is still the witty, charming, truthful and all-around swell guy that he (?) has always been:

"I live in the woods. I foster rescue dogs. I brew beer. I make maple syrup. I play soccer. I don't get a check from a mysterious Cartel. I donate my time, despite the complete lack of financial payback, to helping the poor saps who think that what they read on TF's site, Harvey's site, Jesse's site, etc is fact understand reality.

selling confirmation bias to goldbugs is a great business, though, so i can see how TF would want to distract from the issue and make ad hominem attacks against me and others."

And the cadre of characters whose pristine reputations, scalpel-sharp analytic minds are thoroughly and comprehensively whitewashed... err.... courageously and rightfully defended... Wow. This TFMR really seems like  a den of unfounded, undocumented, made-up misinformation in the face of such stalwarts of intellectual fortitude...

So what Bron is really telling us is that HIS cadre of pseudonymous blogger friends are somewhere, deep down, real people too. And long-time industry analysts (such as himself, and JC, of course) are, by simple virtue of their named presence in their respective markets, always unbiased, accurate, all-knowing. THEIR unverified, unproven statements (on an anon discussion board, over several pages) are golden, and spurious claims of honor and virtue ALWAYS must be taken at face value. I am so glad my eyes have now been opened to The Truth.

The fact that all of the above mentioned characters seem willing to engage in extensive conversation revolving mostly around personality/personal motive, cherry-picked elements of assailable information/interpretation while ignoring the broader theses, and strawmen of all shapes and sized seems to me, at least, to be rather telling.

Heck, I am humbled to have been outed as a troll by ScrewTape's WarrenJ as early as late 2012 -- for daring to have the audacity to use/interpret some of the charts he(?)  presented in a manner not prescribed by him personally... Of course, without any link to my own post on the subject, or even a single sentence as to its substance.

Note that in this diatribe, I did NOT disparage Warren James' investigation into bars in metal ETFs, nor BronS' employer and its business model and possible sources of influence affecting it, nor argue that KD has no market expertise, and therefore should not be trusted.

Just a few notes about truth, that others before me have come to notice and describe much more eloquently than I ever could (quotes and their attributions are for illustrative and entertainment purposes, I am not going to hunt down definitive, first-hand sources)

“There are no facts, only interpretations.”  Friedrich Nietzsche

“All truth passes through three stages: First, it is ridiculed; Second, it is violently opposed; Third, it is accepted as self-evident.”  Arthur Schopenhauer

“If absolute truth belongs to anyone in this world, it certainly does not belong to the man or party that claims to possess it.” Albert Camus

“When it comes to controlling human beings there is no better instrument than lies. Because, you see, humans live by beliefs. And beliefs can be manipulated. The power to manipulate beliefs is the only thing that counts.”  Michael Ende, The Neverending Story

Hammer's picture

Re the 100 CAD silver ounce,

Re the 100 CAD silver ounce, it is basically hedging itself. If deflation hits, the face value becomes more valuable. If the world sees inflation, you are buggered unless the bullion worth of the coin rises to over 100 bucks (actually more like over 100 bucks due to total which includes shipping).

.......and you lived in Canada..............and there is only a mintage of 50,000 - now if a few tens of millions were minted, well then Canada would be basically saying they want these things to be used in daily life but they aren't, so there really isn't anything to see here.

It's really just a neat way of selling an ounce of silver waaaaaay over the spot price plus shipping. Whoever thought this up is a smart marketing guy. Kudos.

Further, Canadian law states that banks and business do not have to accept the silver coins if they do not wish to even if you insisted. Here's a great little story explaining one man's experience in Canada when he needed some quick cash for a coin and went to a bank.

http://www.thestar.com/business/2012/07/05/coin_collector_learns_the_difference_between_legal_tender_and_spending_money_the_hard_way.html

 

and a bonus vid as everyone recovers from too much turkey

Bollocks's picture

!

UK household debt hits a record

cash

Household debt in the UK has reached a record level, according to figures from the Bank of England.

Individuals now owe a total of £1.43 trillion, including mortgage lending, slightly above the previous high.

The previous record was set in September 2008, just before the effects of the financial crisis and the recession began to bite.

More: http://www.bbc.co.uk/news/business-25152556

Hammer's picture

UK crew.....or those who know

UK crew.....or those who know UK stackers, please follow me to a new thread I am starting in the forums. Very interesting link I'd like to share...........it's titled UK Stackers....in the silver forum.

flyinkel's picture

Off last little drop

Two stocks that had decent "pop" DRGDF, GQMNF.  DRGDF had CEO resign, riskier, but also more upside potential.

Two that went up, stayed up, and I have been waiting to buy again, but can't get at the same low price so this was "good enough" FNV, EGO.

I am not a pro trader, in fact, I don't know s***, but I like it when they go up, and off these lows, I assume they will.  DYODD.

Other stuff above, remember "Monsters INC" when Sully and Mike kept opening the doors, and the doors were complex and flying all over the place and there were SO MANY of them?  Everyone has opened a different number of, and different type of door(s).  In a rush to judgment, I don't want to assume anyone is intentionally trying to mislead, until proven so.  Many ARE manipulated, and just don't realize it, but they still are telling their truth, as they know it.

Are you working for goodness, to better others as well as yourself; then you are probably spending time in a good place for your soul.  All the best.

Bollocks's picture

Hammer

I've posted here a few times about the 20% vat issue on silver coins. HMRC started ignoring their own vat-exemption code on all legal-tender coins about this time last year.

I spoke to HMRC about this and Parcelforce (their customs division - who are responsible for collecting the vat) and got nowhere.

Good news that finally it seems that they may be changing their tune, however it's not 5% they should be charging, it's 0%. Legal-tender means it's recognised by the government as money. You can't tax money itself. You can tax everything you want to but the thing you use to pay taxes with.

What HMRC are doing is illegal. But they're above the law. They're a criminal organisation.

PS, I mentioned Scott Bartle in a post a couple of days ago, the Australian chap who's found that Australian  customs payments go to a registered private company in the USA (and the country itself is registered there as a private company!). I heard in an online podcast recently that he's found this is also so for several european countries, including the UK.

The bankers are behind this, it can't be anyone else. They're stealing import duties and putting it in their pockets. And claiming ownership of entire countries!

Mr. Fix's picture

@ JY896

Very well done.yes

Hammer's picture

Bollocks, either way

Bollocks, either way, it is good to see some progress on the matter in official terms and regardless of your "they are a criminal organisation" stance :) less is more in this case :) and that's never a bad thing. There seems to be actual movement based on the guy's correspondence with officials and so it is very much worth tracking his efforts as it goes along. I'll take a reduction(potentially) from 20% tax to 5% tax ANY day of the week !

Kerbouchard's picture

What he said

@ AlienEyes:

Hat Tip!
5

I just watched "Prometheus" with the family.

Good call!yes

JY896's picture

@flyinkel

Agreed on the point of intentionality. But also agreed on the unstated flipside of misleading people, however well-meaning one might be. The world is full of proverbial "useful idiots" with noble intent who are subtly and not so subtly used by the PTB.

AlienEyes's picture

Religion

Religion has proven through centuries to be anything but "infallible".

I am a nominal protestant, raised as a Methodist but no longer church going because my church sent money to "feed the poor (socialists/communist) Sandinistas". 

Besides being responsible for decades of cover-ups and lies the Catholic church has supported human rights, which apparently do not include "freedom from child molesters". My point is people are not infallible and the Pope is people. We still have nominal freedom of religion after an untold number of attempts to end it, most recently by Jews, Muslims and atheists. In history, the Muslims and Catholics have literally tortured and murdered millions of people in the name of religion. In my view, there was not a damn thing "holy" or "devine" about being murdered for failure to comply with the wishes of a sociopath / psycho killer like the French or Spanish during fairly recent history....all with the Pope’s blessing.

Literally all of Central America and most of South America are infested with socialist Catholics which was taught to them by “revolutionary priest”, again, with the Pope's blessing or at least total silence. The vast majority of illegal aliens in the US are these same Central American Catholics. As a result, I have no doubt whatsoever about the Pope being a devout socialist.

"Holy guilt trips" are not a part of my life. I will fight if necessary to protect our freedom of religion and that includes freedom for Catholics, Protestants and Jews. Since the Muslim religion seems to include murder on a regular  basis, I will not be fighting for their rights, except for assisting them in their right to martyrdom and their 72 virgins....if need be.

Let me be crystal clear, I am not an anti-Catholic nor an anti-Semite (which includes Jews, Berbers and Arabs). I am an ardent anti-socialist and an anti-communist. Their religion is of no consequence in my calculus. Their actions are. The fact that Nancy Pelosi and Joe-the-dildo Biden are both socialist Catholics has not escaped me for a nanosecond.

Unholy Dalliance's picture

German Great Inflation 1919-1923

I watched Mike Maloney's video which was very entertaining. His style is easy-going and direct so his message is always clear and concise. I have often told people of the 'non-promise' of the promissory notes (or bills) we use as currency.

I have a couple of niggles. The first is with his analysis of the German Great Inflation which actually lasted from 1919 until November 1923 and was stopped by the introduction of what is really a fiduciary (on trust) currency - the Rentenmark - which was based on the total value of German land.

The other niggle is his description of Hitler's attempted 'Putsch'. Mike didn't mention, and so make clear, that it happened in Munich, the capital of Bavaria which was still a separate country in the German Empire. You could use the analogy of Scotland in relation to the other members of the United Kingdom. Bavaria had, for a few weeks April-May 1919, been a soviet republic until the Freikorps, military units loyal to the German Army (Reichswehr) retook Munich after fighting the communists in the streets.Hitler wasn't even this successful. The Putsch was not noticed elsewhere in Germany. It lasted less than 2 days - from the evening of 8th to the afternoon of 9th November 1923. It coincided with the end of the Great Inflation!

The origins of the dilution of the value of the Reichmark was simply the terms demanded by the victorious Allies (Great Britain, France, Italy, Russia and the United States) for Germany and the other members of the Central Powers (Austria and Turkey) to pay reparations.

Here is something I wrote over three years ago and it is still applicable today. Those 'in command' have truly learned nothing from history. However, Mike Maloney doesn't understand that the German inflation didn't happen because they were craftily trying to pay off the war reparations with worthless paper (not their own war debts but the 'tribute' the victors demanded at the Versailles Conference - which led to the Versailles Treaty of 1919)  but because the Allies DEMANDED gold! Not silver, not manufactured goods and, at first, incidentally, not even natural resources (although eventually those were sequestered when France and Britain occupied the Ruhr. The Royal Navy continued to blockade German ports long after the Armistice on 11 November 1918 in order to get the German government to agree to the Allies' terms and hundreds of thousands of German civilians starved to death. The Allies, for whatever reason, wanted Germany's gold and for a long time would countenance no substitute (does that sound familiar to you? I hope so. That's what is called 'learning from history').

So here it is:

My parents lived through the Great Inflation as children. They were 12 (mother) and 14 (father) when it started to take off in the second half of 1922. Germany had 'lost' the war with the Allies - Great Britain, France and the United States. Russia had sued for peace in 1917 before the Bolshevik-inspired October Revolution and by the Armistice in November 1918 she was deep into a  civil war in which Britain and France intervened on the side of the 'White Russians' (Monarchists). So, in the aftermath of the armed struggle between the 'empires', the British and German empires, Germany was also plunged into civil war, just like in Russia, a civil war between those who sought to protect the monarchy and its complacent 'status quo' (even though the German Emperor had fled to live on a rural estate in the Netherlands - the Russian imperial family were not so lucky) and those who, to a lesser or greater degree, sought greater social equality and social justice and, something Germany had never experienced until that time - democracy. By democracy, I mean, of course, that now-quaint notion of free and fair elections to choose representatives to sit in a parliamentary chamber to pass laws to bring about that afore-mentioned greater social equality and social justice.

Step forward Walter Rathenau, German Foreign Minister from 1918-1920 who had those dreams. However, before he could bring about a socially just and equitable Germany, he was brutally murdered.

Yes - the rarely-mentioned Walther Rathenau who was assassinated  in June 1922 by proto-Nazi thugs who had connections von Ludendorff's Freikorps. Had he lived, there would not have been hyper-inflation in Germany. Don't believe me? Read all you can find about Walther Ratenau.

So, while this maelstrom of hate and fear and paranoia, suffering and depredation stalked Germany, the Allies stood by and watched. However, Germany had brought this on itself, had it not? Germany - the great 'wannabe' superpower in 1914, eyeing British Empire possessions with envy - asking of its citizens and itself: 'Why are we not as rich, as powerful, as successful as the British?' Why, we even have an Emperor who is cousin to the British King! We have as much right as they to rule half the world and more. We have as much right as the British to have an empire on which the sun never sets!After all all their kings and queens since George I were German!'

As we know, it was not to be. Instead, the German Military High Command tried to wrest a semblance of victory from the jaws of, not exactly defeat, but of miserable and strength-sapping tactical and strategic stasis along the northern section of the Western Front. It was not how it was supposed to end - and the Generals conveniently blamed the politicians whom they claimed had made them sue for an armistice. In truth, the German Army was more or less exhausted from 4 years of gruelling trench warfare. Losses were appalling, monstrous and, more importantly, unsustainable.  The last straw was the arrival of the Americans in November 1917. The objective of Paris was put firmly and permanently out of German reach. And so, as in 1870, the whole 'raison d'etre' of the war vanished. The German politicians were not the traitors. They had no von Moltke among them, von Moltke, the Prussian general who had ingeniously calculated 10 years before the devilish initiation of the conflict, a 'fool-proof' invasion of Germany's ancient enemy - France.  For to conquer France was the key for Germany to conquer and dominate the whole of Europe. No other country could have resisted her. Not even Austria, whose crumbling empire in the east would have ensured that the dominoes of Turkey, oil-rich Persia and the oil-rich Arabian peninsular fell into German hands. To that could have been added the British interests (colonies and protectorates of North and East Africa as far south as Rhodesia - and with them the gold, the diamonds, the farmland and the labour which Britain so jealously guarded and from which she continued to reap considerable benefits and bounty.

Ah, the covetous eye of the Emperor - what trials and tribulations did that sin of his rain down on the heads of his poor, long-suffering subjects!  Well, of course, in the beginning they were just as keen as he was to extend German influence, German hegemony in Africa, in South America and in the Pacific. Why, even the Americans, who had thrown off the shackles of empire to become a free nation - even they were building an empire in the Caribbean and in the Pacific. Yes, even the American coveted that which was not theirs under their covetous 'general-president', Theodore Roosevelt. And let us not forget France - with colonies in North Africa and the Pacific including that jewel of the South Seas, Tahiti. Why should Germany not enjoy the same fruits of empire? Who was there to stop her, in Africa, in the South Seas and in South America? And even Japan, that most enigmatic and mysterious of the eastern lands valued German military techniques, valued and embraced German education philosophy, ideals and examination standards: rigourous standards which rewarded excellence and punished slackers.

And so it was that 'poor old Germany', who was childishly and slavishly attempting to emulate her rival empires on the world-stage, miscalculated and mismanged, overstretched her human, financial and natural resources in order to fight a pointless, futile war for which no clear objective had been agreed, save von Moltke's ridiculous fantasy of fighting 1870-71 all over again. For what purpose? There was none. Was the spreading of German influence, German hegemony and, especially, German technological superiority in railway engineering (so they thought) worth all that carnage in Belgium and northern France in the west and on the fringes of the vast Russian empire in the east? Was it worth the destruction of the flower of three great nations' young manhood? Of course it wasn't. Lions led by donkeys? Lions led by blood-thirsty imbeciles, more like!

And all of this led directly to the political, financial and monetary collapse of late 1922-3. 

garimpiero's picture

China Has (Supposedly) Accumulated 20,000 Tons of Gold

The beauty of the 1932 dollar (well, $20 and up) was that if you had any doubts, you could simply take it to any national bank and demand they weigh out an ounce of gold and hand it to you.(!) Let me know when any Chinese bank says it will do this with their yuan. Until then, it is all speculation

Syndicate contentComments for "The Latest From Mike Maloney"