Just A Snippet


During today's A2A, I asked David Morgan to address once again the idea that someone can just go to The Comex and take delivery of several thousand contracts in order to "break" the exchange.

This snippet is about 8 minutes long. I thought I would share it with everyone because it should help clear up the misconception that The Comex can be broken by any entity with deep enough pockets to pull it off. As a lifelong silver investor, David's insights on this matter are invaluable.

The full A2A recording is available to Vault subscribers. You can become one by clicking here:


The plan is to host at least one of these "Access To Access" webinars each week, where subscribers get to ask questions directly to some of the biggest names in the metals industry. The majority of the subscriber feedback thus far has been positive toward this fun and informative format.



Oct 10, 2013 - 2:11pm

2/3 of worlds adult populace has less then $10,000

World likely to have 11 trillionaires within two generations: Credit Suisse October 9, 2013, 2:17 PM

In the past year, aggregate global household wealth increased by 4.9% to reach $241 trillion, a sign that even as the tepid economic recovery plays out, households are still accumulating wealth. And that number is poised to grow over the next five years by 40%, reaching $334 trillion, according to Credit Suisse’s annual Global Wealth Report, out Wednesday.

Here’s what the distribution of that wealth looks like in pyramid form:

Credit Suisse

It’s pretty disconcerting to see over two-thirds of the world’s adults have wealth of less than $10,000, while the wealthiest 0.7% hold 41% of the world’s wealth.

But there are some heartening signs in the report. One suggests that some measures of mobility are high. Future projections of growth rates based on historical averages show that the fraction in the bottom category of wealth will fall steadily over a 60-year time-frame. After the first 30 years, the number of people currently at the bottom will be cut nearly in half. The authors write:

“Two generations ahead, future extrapolation of current wealth growth rates yields almost a billion millionaires, equivalent to 20% of the total adult population. If this scenario unfolds, then billionaires will be commonplace, and there is likely to be a few trillionaires too – eleven according to our best estimate.”

Here’s what it looks like in colorful chart form:

Credit Suisse

Wealth mobility within the period works the other way as well. The top 100 billionaires in the Forbes billionaire list in any given year tends to fall in consecutive years, the authors found. So, for example, of the top 100 billionaires on the list in 2001, only 37 remain. It’s a small sample size that hinges on a number of factors, but it goes to show that just because you’re perched on the top of the pyramid doesn’t mean you’ll stay there.

This chart shows the trajectory:

Credit Suisse

– Ben Eisen


Oct 10, 2013 - 2:13pm

Dear Cartel:

We're waiting.

Bring the price down again. Make your last DESPERATE attempt to kill the psychology of the market very clear for ALL to see. We'll ALL just buy more.

Thank you,


Bongo Jim
Oct 10, 2013 - 2:15pm


Gonna leave a mark, Bollocks.

Mr. Fix
Oct 10, 2013 - 2:33pm

6th,..."On The Path To Default"


"One day the US will start to see inflation pick up, and then inflation will start to take on a life of its own. As store owners start to anticipate the inflation, they begin marking up their prices in anticipation. Prices change week-to-week, and eventually day-to-day. This is how the panic begins. Inflation then begins to really surge. We will see a lot of changes as prices begin to soar, but most importantly people’s quality of life will be deteriorating.”

Oct 10, 2013 - 2:38pm
Mr. Fix
Oct 10, 2013 - 2:44pm

It is shaping up to be an interesting weekend…


“Since Interstate 495 is clearly a federal roadway,” report our DOT sources, and “the federal government is now closed because of the crazy House of Representatives Republicans, it is within the purview of the federal government to add it to the list of government properties that are closed and may not be used by citizens,” claims Ryt adding that the I-95 and I-66 in Northern Virginia could also be closed.

I don't think I'm going to far out on a limb here by stating that Barack Hussein Obama is now in the process of imposing his beloved police state, he's not even going to wait for the so-called "debt ceiling" to be hit.

Oct 10, 2013 - 2:58pm


What goes up ...

1st Amendment (amended 1913 - 2013)

Congress shall make any laws respecting an establishment of religion or other, prohibiting the free exercise thereof; remove the freedom of speech, and of the press; and remove the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.

Oct 10, 2013 - 3:00pm

Smart Man!

I especially loved his last three words!

in a picture:

Mr. Fix
Oct 10, 2013 - 3:02pm

To that end

Somebody linked this yesterday. Interesting...


Oct 10, 2013 - 3:03pm

Strange don't you think

Wealth, including roads etc, were only built via the labour of Americans. Paid for by the donations (of taxes) to the government, for government (of and for the people) to spend on behalf of the people; to make their (peoples) roads. Peoples roads.

What is this talk that these parks and roads and stuff BELONG to government and that government, when deprived of currency, can, with the use of force, prevent the people from using that which they have already paid for by the sweat of his brow!

This is NOTHING less than MARTIAL LAW LIGHT. The government owns nothing, it never earned anything, it operates only by the behest of the people to to their bidding.


Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

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Key Economic Events Week of 10/14

10/15 8:30 ET Empire State Fed MI
10/16 8:30 ET Retail Sales
10/16 10:00 ET Business Inventories
10/17 8:30 ET Housing Starts and Bldg Perms
10/17 8:30 ET Philly Fed MI
10/17 9:15 ET Cap Ute and Ind Prod
10/18 10:00 ET LEIII
10/18 Speeches from Goons Kaplan, George and Chlamydia

Key Economic Events Week of 10/7

10/8 8:30 ET Producer Price Index
10/9 10:00 ET Job Openings
10/9 10:00 ET Wholesale Inventories
10/9 2:00 ET September FOMC minutes
10/10 8:30 ET Consumer Price Index
10/11 10:00 ET Consumer Sentiment

Key Economic Events Week of 9/30

9/30 9:45 ET Chicago PMI
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/1 10:00 ET Construction Spending
10/2 China Golden Week Begins
10/2 8:15 ET ADP jobs report
10/3 9:45 ET Markit Service PMI
10/3 10:00 ET ISM Service PMI
10/3 10:00 ET Factory Orders
10/4 8:30 ET BLSBS
10/4 8:30 ET US Trade Deficit

Key Economic Events Week of 9/23

9/23 9:45 ET Markit flash PMIs
9/24 10:00 ET Consumer Confidence
9/26 8:30 ET Q2 GDP third guess
9/27 8:30 ET Durable Goods
9/27 8:30 ET Pers Inc and Cons Spend
9/27 8:30 ET Core Inflation

Key Economic Events Week of 9/16

9/17 9:15 ET Cap Ute & Ind Prod
9/18 8:30 ET Housing Starts & Bldg Perm.
9/18 2:00 ET Fedlines
9/18 2:30 ET CGP presser
9/19 8:30 ET Philly Fed
9/19 10:00 ET Existing Home Sales

Key Economic Events Week of 9/9

9/10 10:00 ET Job openings
9/11 8:30 ET PPI
9/11 10:00 ET Wholesale Inv.
9/12 8:30 ET CPI
9/13 8:30 ET Retail Sales
9/13 10:00 ET Consumer Sentiment
9/13 10:00 ET Business Inv.

Key Economic Events Week of 9/3

9/3 9:45 ET Markit Manu PMI
9/3 10:00 ET ISM Manu PMI
9/3 10:00 ET Construction Spending
9/4 8:30 ET Foreign Trade Deficit
9/5 9:45 ET Markit Svc PMI
9/5 10:00 ET ISM Svc PMI
9/5 10:00 ET Factory Orders
9/6 8:30 ET BLSBS

Key Economic Events Week of 8/26

8/26 8:30 ET Durable Goods
8/27 9:00 ET Case-Shiller Home Price Idx
8/27 10:00 ET Consumer Confidence
8/29 8:30 ET Q2 GDP 2nd guess
8/29 8:30 ET Advance Trade in Goods
8/30 8:30 ET Pers. Inc. and Cons. Spend.
8/30 8:30 ET Core Inflation
8/30 9:45 ET Chicago PMI

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

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