A Holiday Tradition: Fresh Jackass


With all of the madness of the impending hostilities in Syria, what a perfect time to connect once again with The Golden Jackass himself, Jim Willie.

As you might expect, Jim has his own theories as to the rationale for these recent events and they differ somewhat from the mainstream script. So, rather than poke and prod, today I just gave Jim the microphone so he can explain in his own words what he thinks is behind this seeming rush to war in Syria.

Here is a link to the article that accompanies this interview: https://news.goldseek.com/GoldenJackass/1377892800.php

So, sit back, relax and open your mind. Consider what Jim has to say, form your own conclusions and prepare accordingly. TF


gold slut
Aug 31, 2013 - 1:14pm

Turn on your TV

Hmmm, sounds ominous... please keep us UK Turdites up-to-date! Thanks gang.

Aug 31, 2013 - 1:13pm
Aug 31, 2013 - 12:42pm

Turn on your TV

Milhous to "address nation" at 1:15 EDT

Aug 31, 2013 - 12:23pm

nw view

"HUman decency is not derived form religion, it precedes it." C. Hitchens

Who we should fear the MOST are those who quote from religious texts.

Aug 31, 2013 - 11:44am

US Marine Ship Approaches Syria; Russia Blasts....

US Marine Ship Approaches Syria; Russia Blasts Any "Acts Of Aggression" - Full Syrian Update

Submitted by Tyler Durden on 08/31/2013 - 10:50

  Image cannot be displayed

While there may have been a verbal attempt by the Obama administration to diffuse Syrian tensions in the aftermath of Thursday's shocker out of the House of Commons, the action on the ground so far is hardly conciliatory. Or rather water, because a sixth US warship has now anchored in proximity to Syria, joining the recently arrived fifth destroyer USS Stout, which joined the warships already "breathing down Assad's neck." From AP: "Five U.S. Navy destroyers - the USS Gravely, USS Mahan, USS Barry, the USS Stout and USS Ramage - are in the eastern Mediterranean Sea waiting for the order to launch. And the USS San Antonio, an amphibious assault ship has now joined them. The USS San Antonio, which is carrying helicopters and can carry up to 800 Marines, has no cruise missiles, so it is not expected to participate in the attack. Instead, the ship's long-planned transit across the Mediterranean was interrupted so that it could remain in the area to help if needed." So in addition to a cruise missile based force, the US is now bringing in the marines? The justification that they are there "just in case" seems a little shallow in context.

Not surprisingly this contradicts what Obama said yesterday, promising there would be no land-based invasion.

Elsewhere, Russia predictable once again warned against a US escalation. Russia Deputy Foreign Minister Sergei Ryabkov met with U.S. ambassador to Russia Michael McFaul today, Foreign Ministry says in e-mailed statement. Ryabkov summarized: any use of force by U.S. against Syria without UN sanctions would be an "act of aggression, crude violation of the norms of international law." Whether this means an immediate retaliation by Russia is unknown.

What is known is that the UN inspectors who were supposedly the only gating issue for a full-blown US "surgical strike" have now left the country. Per Reuters, the team of United Nations inspectors that was investigating the alleged chemical weapons attack in Syria arrived at Beirut International Airport on Saturday, a Reuters witness said. The team had crossed the land border from Syria into Lebanon earlier in the day after completing its four-day investigation.

However, anyone expecting a quick turnover from the UN force will be disappointed. Accoridng to NBC, the U.N. said Friday that the team had finished collecting samples from the site of the alleged attack but that a complete analysis would take time. Secretary-General Ban Ki-moon told the five permanent Security Council members that it may be two weeks before final results are ready, diplomats said.

In other words, the "surgical strike" options are now fully open and Obama may strike at any minute, and of course reap the consequences.

Those still unclear how a typical strike would look like, here is another complete rundown from the AP:...(more)


Aug 31, 2013 - 11:42am

Harvey's Up!

  • Dr. Paul Craig Roberts (via King World News): The economic problem in the US really doesn’t have a solution at this point. It’s gone on too long. I think it probably starts this fall/winter, and next year will be a dismal year in terms of economic history.
  • GoldCore: Gold and silver often see periods of weakness in the summer doldrum months of May, June and July. Now we move into September which is, along with November, one of the strongest months to own gold. Short positions held by hedge funds in the gold and silver markets remain very high and the stage is now set for a significant short squeeze which should propel prices higher in the coming months.
  • GoldCore: Monetary risk or currency risk remains high as the policy response of the Federal Reserve, the ECB, the Bank of England and the majority of central banks to the risks mentioned above continues to be to be ultra loose monetary policies, zero interest rate policies (ZIRP), negative interest rate policies (NIRP), deposition confiscation or “bail-ins”, the printing and electronic creation of a tsunami of money and the debasement of currencies. Absolutely nothing has changed regarding the fundamentals driving the gold market.
  • Egon von Greyerz (via KWN): If within the next 12 months gold reaches $2,500 and silver $70, in inflationary terms that will be absolutely nothing. The 1980 gold peak of $850 would today be in excess of $7,000 (when adjusted using real inflation). And silver, which peaked at $50 in 1980, would now be over $400. We must also bear in mind that in 1980 the U.S. federal debt was $1 trillion, and today it’s $17 trillion. Total world debt was probably around $10 trillion to $15 trillion in 1980, and today it’s $250 trillion. So the exponential growth in debt will clearly lead to exponential growth in the price of real money, which of course is gold.
  • Harvey: Two thirds of of all South African miners will go on strike this Tuesday. South Africa will lose 35 million usa dollars per day of lost production. The companies have offered a 6.5% wage increase and the workers want 60%. The union representing the other 1/3 are also dissatisfied and they may go on strike shortly.
  • Tyler Durden: In early April, the status quo was exuberant when none other than Goldman Sachs issued a "sell" on the barbarous relic. In Q2, Goldman Sachs added a stunning (and record) 3.7 million 'shares' of GLD. As Paulson dumped his GLD, Goldman lapped it up to become the ETF's 7th largest holder. Thank you Goldman, we can always rely on you!
  • Tyler Durden: With tensions appearing to ease a bit, Saudi Arabia has raised its defense readiness condition to 2 from 5. Even more curious is why Saudi is leaking this information to the media: another provocation, and an attempt to accelerate a conflict which is rapidly fizzling? Remember: for Saudi Arabia "no war" is the worst possible outcome.
  • Jeff Nielson: Smash the Big Banks to dramatically reduce the systemic risk of financial collapse (and permanently remove “too big to fail” from our vocabularies). Smash the Big Banks to save near-bankrupt Western governments $trillions per year in Corporate Welfare. Smash the Big Banks to reduce organized crime. Or, simply smash the Big Banks to make a lot of money.
  • Steve St. Angelo (SRSRocco Report): Together, Silver Maple and Silver Eagle sales will likely be between 68-71 million ozs in 2013. This is an amazing figure, as it represents 9% of total 2012 world silver production of 787 million ounces.
  • Egon von Greyerz: Gold and silver will surge in September and they will both make substantial new highs in 2014. Gold will go up hundreds of percent from current levels, and possibly even thousands of percent. This destruction will come about through endless money printing and credit creation.

All this and more on...

The Harvey Report!



Aug 31, 2013 - 11:30am

Solar Wind Mining !

Why not use solar and wind .... to extract Gold from the oceans .... by electrolysis .... a nice passive process .... unhurried .... and suited to the energy .... which can't be counted on .... when you really need it .... like mowing your lawn on a cloudy day ? Monedas 1929 Comedy Jihad Internal Combustion Advocate World Tour

Aug 31, 2013 - 10:45am

News Blast: World

Europe's Weakness Is Laid Bare - Severin Weiland, Der Spiegel
Assad's Inevitable Propaganda Victory - Hassan Mneimneh, GMF
Wage a Smart War Against Syria - Anthony Cordesman, CSIS
How France Became America's Shooting Buddy - Yochi Dreazen, FP
The World Needs Britain - Charles Moore, Daily Telegraph
Britain Can Still Make a Difference in Syria - Ed Miliband, The Guardian
A Much Less Special Relationship - Roger Cohen, New York Times
It's Time to Toughen Up, Obama - Seth Cropsey, RealClearWorld
Obama's Missiles of Impunity - Rami Khouri, The Daily Star
Britain's Quiet Demographic Explosion - Daniel Johnson, Standpoint
Secularism in Retreat in France - Soeren Kern, Gatestone Institute
What Russia Doesn't Get About Spying - Michael Bohm, Moscow Times
Why Sweden Is a Model Country - C. Fred Bergsten, Washington Post
Have Russian Spies Penetrated WikiLeaks? - Joshua Foust, Medium
America's Bubonic Plague Lab in Kazakhstan - Alex Pasternack, Vice

Like It Or Not, America Is the World's Policeman - The Economist
A War without a Purpose - The Spectator
In a Dysfunctional Mideast a Sign of Hope from... Iraq - The National
Canada's Right to Stay Out of Syria - Toronto Sun

Like It Or Not, America Is the World's Policeman - The Economist
A War without a Purpose - The Spectator
In a Dysfunctional Mideast a Sign of Hope from... Iraq - The National
Canada's Right to Stay Out of Syria - Toronto Sun

Destroy Assad's Regime, or Hold Your Fire - Fouad Ajami, Hoover
Syria Is Not Our War - Christopher Dickey, The Daily Beast
What to Bomb in Syria - Carol & Jamsheed Choksy, RealClearWorld
Obama Looks Like an Amateur Next to Bush - Nile Gardiner, Telegraph
4 Reasons to Scrap Syria Attack - David Francis, The Fiscal Times
Syria Makes Less Sense than Iraq - Ramesh Ponnuru, Bloomberg
Who Are the Neocon Cowboys Now? - Benny Avni, New York Post
Al-Qaeda Focuses on 'Near Enemy' - Murad Batal Al Shishani, The National
About That 'Special Relationship' - Emanuele Ottolenghi, Commentary
The Tall Tales of Cairo - Ursula Lindsey, New York Times
The Deep Sea Resources Rush - Gemima Harvey, The Diplomat
Let's Power Africa - Ellen Johnson-Sirleaf, Foreign Policy

Go Big or Stay Home in Syria - Kenneth Pollack, Daily Beast
Even "Limited" War in Syria Could Be Costly - Tom Vanden Brook, USAT
After Upgrade, Might Navy Buy F-18 Over F-35? - Robert Beckhusen, WIB
Black Budget Shows U.S. War in Cyberspace - Gellman & Nakashima, WaPo
U.S. Should Use Cyber Weapons on Syria - Jason Healey, Defense One
Don't Call This Humanitarian Intervention - Charli Carpenter, FP
Experts: Syria Plan Overlooks Risks - Barnard & Rubin, New York Times
Obama Reaps Fruits of His Policy of Disengagement - Editorial, Wash Post
Congress and the UN Absent on Syria - Editorial, New York Times
U.S. Strategy in Syria Must Be Clear - Editorial, Boston Globe
Hagel Presses Philippines to Allow U.S. Troops - Barnes & Larano, WSJ
Net Assessment Studying China-India Tensions - Ray Locker, USA Today

Asian Carriers By the Numbers - Kyle Mizokami, USNI News
Asia's Looming Power Shift - Rajan Menon, National Interest
Dempsey's Warnings & U.S. Options in Syria - Anthony Cordesman, CSIS
Strategic Choices for Australia's Next Government - ASPI
Military Implications of Syrian CW Use - Jeffrey White, Washington Inst

Obama's Syria War Plan Worthy of an SNL Skit - Jim Vandehei, Politico
Has South Korea Lost the East Asian Stealth Race? - Jeong Lee, RCDefense
Russia's T-50 Fighter Can Outfly, Outshoot U.S. Jets - David Axe, WIB
Military Officers Have Deep Doubts About Syria - Ernesto Londono, WaPo
Slam Dunks Belong in Basketball, Not Intelligence - Matt Berman, NJ
Ghosts of Iraq Haunts Obama's Syria Attack Plan - Michael Crowley, Time
One Great Big War in the Middle East - David Brooks, New York Times
Iran Says Syria Strike Will Ignite Wider War - Carol Williams, LA Times

A Serious Bombing Strategy - Editorial, Wall Street Journal
America's Syria Strike Must Be Large - Ryan Evans, War on the Rocks
U.S. Carrier Theodore Roosevelt Back in Service - C. Cavas, Defense News

The Doc
Aug 31, 2013 - 10:16am

Metals & Markets: US Wants

Metals & Markets: US Wants War! How Will it Affect the Metals?

In this week’s SD Weekly Metals & Markets The Doc & Eric Dubin discuss:

  • Last week’s forecast nailed the short term top for silver at $25.25, where to now for gold and silver?
  • Wholesalers reporting “people were dumping” physical silver onto the market near $25- retail shortages ease significantly
Aug 31, 2013 - 10:15am

News Blast: Markets

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Walls Are Closing In on Central Bankers - Bill Fleckenstein, MSN Money
Why Gold Is Having a Summer Revival - Steve Rothwell, Associated Press

The QE Top - Jeffrey Cooper, Minyanville
Even the King of Bonds Can't Escape the Carnage - Institutional Investor
Emerging Markets: Contained or Contagion? - Alanna Petroff, CNNMoney
Commodities: Don't Let the Rally Fool You - Suzanne McGee, Fiscal Times
Invest with Warren Buffett's Five-Year Plan - Chuck Jaffe, MarketWatch
What Everyone Gets Wrong About Monetary Policy - John Carney, CNBC
China's Giant Banks Face a Giant Reality-Check - The Economist
eBay-Style Peer Loans Spur Wall Street Asset Craze - Bloomberg Markets
Big Banks, Five Years After the Chaos - Floyd Norris, New York Times
American Work Life: We Can Do Better - Katherine Reynolds Lewis, Fortune
Too Much Government Caused the Great Recession - Scott Powell, IBD
Buckyballs: Just Imagine What Ayn Rand Would Say About This - WSJ

If August Was Bad, September May Be Worse - Patti Domm, CNBC
Why Don't We Learn from Financial Crises? - Paul Krugman, NY Times
The Swedish Model for Economic Recovery - C. Fred Bergsten, Wash. Post
Building a Foundation for a Quality Money System - Nathan Lewis, Forbes
Short Sellers Love China's Tall Buildings - Brett Arends, MarketWatch
America's New Pastime: JPM Investigations - Jonathan Weil, Bloomberg
Fast-Food Worker Strikes Are Doomed - Derek Thompson, The Atlantic
Why Labor Is Organizing Against ObamaCare - Eric Pianin, Fiscal Times
The 'Ideal' Retirement Is Going to Include Work - Dan Kadlec, TIME
Fraud, Failure & Bankruptcy Pay Well for CEOs - Al Lewis, MarketWatch
Google and Uber Could Transform America - Matthew Yglesias, Slate
Pay College Athletes? They Already Get $125k/yr. - Jeff Dorfman, Forbes
Higher Ed & the Paradox of Subsidies - Robert Tracinski, RealClearMarkets

Why Ugly CNBC Ratings Are A Bullish Sign - Ryan Detrick, Schaeffer's
Tech Is the Market's Last, Best Hope - Jim Jubak, TheStreet
7 Reasons You Should Stay Bullish on Stocks - Barbara Kollmeyer, The Tell
All Things Considered, Flat Stock Summer Was Success - Bob Pisani, CNBC
Porn-Loving Bond King: AAPL = Dead Money - Philip Elmer-DeWitt, Fortune
The 16 Best Things Warren Buffett Has Ever Said - Huffington Post
We Don't Need Another Alan Greenspan - Simon Johnson, Project Syndicate
Homebuyers Tap the Brakes - Prashant Gopal & Heather Perlberg, Bloomberg

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Key Economic Events Week of 5/3

5/3 9:45 ET Markit manu PMI
5/3 10:00 ET ISM manu PMI
5/3 10:00 ET Construction Spending
5/3 2:20 ET Chief Goon Powell
5/4 8:30 ET US Trade Deficit
5/4 8:30 ET Factory Orders
5/4 1:00 ET Goons Daly and Kashnkari
5/5 8:15 ET ADP jobs report
5/5 9:45 ET Markit service PMI
5/5 10:00 ET ISM service PMI
5/5 12:00 ET Goon Mester
5/6 8:30 ET Productivity and Labor Costs
5/6 10:00 ET Goon Kaplan
5/7 8:30 ET BLSBS

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