It’s Tuesday morning, and before I get to today’s certain to be “controversial” topic – which may, in the process, be further delayed by a Greek Parliamentary vote, Whirlybird Janet’s Humphrey-Hawkins hearing, or any number of black, grey, or white swan news – let’s start with the insanity that is the “silver market.”
With Europe on the verge of collapse (Happy Anniversary Mario – three years ago next week, you promised to do “whatever it takes” to save the Euro); the Chinese market amidst a NASDAQ-like freefall – notwithstanding unprecedented government intervention; sovereign nations like Greece and Puerto Rico defaulting on billions of loans – with many others “on deck” for the same – exposing the unprecedented insolvency of the global financial system; QE on steroids throughout much of the “civilized” world (way to go Shinzo, here’s what “Abenomics” has wrought on Japan); Central bankers gone mad – from Europe to England to China; imploding currencies; collapsing commodities (with yesterday’s Iranian “peace” deal likely to pressure the world’s most important commodity for years to come); abysmal economic data, such as plunging U.S. retail sales, small business sentiment, export prices, and industrial production this week alone; declining interest rates despite Whirlybird Janet supposedly ready to tighten monetary policy (LOL); and oh yeah, a Greek “deal” that may not even be ratified (is anyone watching National Bank of Greece’s stock?); the U.S. Mint last week announced it sold out of Silver Eagles – for, I believe, the third time in the past three years.
And yet, amidst an environment when so-called “commercials” like JP Morgan have been dramatically covering silver short positions (if you believe a word of the fraudulent COMEX data), we’re to believe that despite surging physical premiums, expanding delivery times, and the aforementioned litany of wildly Precious Metals bullish news, that not only would paper silver NOT increase, but dramatically underperform essentially all other commodities. Yes, lead has since risen 7%; whilst silver is down 1% – having been “waterfall declined” as soon as the COMEX opened, with not a shred of “news” to explain it, for the third straight day.
expectations,” entirely due to “rising energy costs!” Of course, if it was 0.2% below expectations, they’d attack PMs as well, under the guise of “deflation.” That said, interest rates don’t appear as “fearful” of the inflation the PPI supposedly purported – as not only are they lower since its publication, but despite Janet Yellen appearing 15 minutes from now on Capitol Hill, potentially to speak of potential “rate hikes!” And as for stocks, as you might expect, they haven’t budged all morning, care of the omnipresent PPT.
“Investors are blindfolded by central bank intervention. We used to think plunge protection was heresy – but now, if your nation doesn’t have a plunge protection team, that’s heresy!”
As for the so-called “media” reporting on the political, economic, and social carnage we are amidst – as well as the “financial markets” that once upon a time “discounted” such factors – the idiocy, lunacy, and conflict of interest is beyond madness. I mean, when WTI crude prices “magically” rose from $51.00 to $53.50/bbl upon yesterday’s hideously bearish news that an Iranian “peace” deal was agreed upon – which according to the everything I’ve read, was unexpected – Yahoo! Finance claimed oil prices rose because the agreement will not commence for another six months! First of all, these talks have been ongoing for weeks – if not months – with oil prices rising for most of this time surging global production and inventories, amidst plunging economic data. Moreover, throughout the entire negotiating process, it was widely known that it would take six months for the related oil sanctions to be lifted. And finally, the last time I picked up my finance textbooks, financial markets were “discounting mechanisms” of anticipated events six months hence. In other words, one would have to be a moron to not suspect something awry; or conversely, disingenuine, conflicted, or otherwise compromised.
Which brings me to today’s topic, of whether or not there are one or more “conspiracies” to commandeer markets; establish a “new world order”; or otherwise “control the world.” Long time readers know my view on this topic well; i.e, disdaining any and all discussion of such potentialities in lieu of Occam ‘s razor, which tells us the simplest explanation of such political, economic, and financial markets lunacy is the most likely. Which is, that care of the very nature of fiat currency regimes, a handful of people at the top of each countries’ political and financial “food chains” have inadvertently inherited massive amounts of power. And care of human nature – which first and foremost, values survival; and second, profit; all imaginable attempts to “kick the (Ponzi scheme) can” down the road are attempted. In the process, all out carnage is wrought upon the world’s political, economic, financial, and social structures – inviting all manner of “conspiracy theories” as to whose “fault” it is; and who “plotted” such carnage.
In my view, one is best served to stick to the available facts; many of which, unequivocally, prove manipulation of financial markets (do you believe freely-traded silver markets would have declined this week?); economic data (do you believe the Chinese economy grew 6.8% last quarter?); and a host of other factors. And as for “conspiracies” – such as, for instance, “one banks”; “new world orders”; and “currency resets”; and their supposed “leaders” – from the Rothschilds to the Bilderbergs, George Soros and the Trilateral Commission; the odds that a handful of “elites” not only have the ability to control billions of people (speaking thousands of languages, in hundreds of countries), but the desire to do so are not just zero, but less than zero.
Why do I bring this up today, you ask? I’ll tell you why. Because now, more than ever, the “alternative world” needs to unite in its efforts to spread truth, as opposed to speculations, hypotheses, and innuendo. Not that the Miles Franklin Blog is trying to “save the world” – or even change it one bit, for that matter. However, David Schectman and I, as well as the vast majority of our readers, very passionately believe in the power of the internet to communicate truth, in a world gone mad.
For four years now, we have watched paper gold and silver prices attacked despite the most violently bullish fundamental factors imaginable – from the explosion in worldwide debt, fiat currency, and geopolitical instability; to record gold and silver demand; collapsing inventories; and the near certain onset of peak production, given the ongoing collapse of the global mining industry. We have also seen interest rates, the world round, lowered to zero or below by maniacal Central banks, taking the “final currency war” nuclear with unprecedented ZIRP, NIRP, and QE schemes – with no end in sight (LOL, as I write, the Bank of Canada dramatically reduced its 2015 GDP estimates, and unexpectedly reduced interest rates out of sheer panic). And we have seen the complete and utter betrayal of trust by our politicians; corporate leaders; and of course, Central bankers – you know, those trusted to maintain the purchasing power of our savings.
In other words, the time is NOW to focus our efforts on the truth; which throughout thousands of years of history, has set man free – and for that matter, differentiated it from all other species. The more we do so, the more rapidly the shackles that enslave us will be broken. And for those interested in protecting themselves from the mathematically certain calamity said “can-kicking” exercises have exposed us to, we suggest you take a good, hard look at the facts of gold and silver supply, demand, and inventory. As in 2000, 2008, and the onset of all other historical crises, the vast majority will only recognize such truths after the fact. Which is why you, our readers, are blessed with the knowledge of what is occurring – and what will be – beforehand.
P.S. Whirlybird Janet’s Humphrey-Hawkins prepared comments were a decided yawner, purporting the same “we’ll raise rates if all goes as hoped” claptrap we’ve heard for the past two-plus years. You know, since the aforementioned April 2013 Precious Metal raid noted above; which, according to the MSM, was due to expectations of economic “recovery” and Fed “rate hikes.”
The cartel that short paper PM must know that the physical demand is strong and the likelihood of a squeeze is a high possibility. Don’t they have a plan B in case of a squeeze? They must know what they are doing?
I don’t know if Greece or other country will leave (or kicked out) the Eurozone, but one thing for sure the Eurozone is here to stay no matter how bleak it may look at the moment. The Eurozone is more than economic, it’s also political and military cooperation, Europe as no choice but to cooperate as a block to be relevant on the world scene. Don’t be surprise if they Eurozone becomes stronger in the future.
I doubt these Keystone Kops have any plans at all.
And as for the Eurozone having no choice but to band together, that’s ridiculous. There are 20 or si nations, each with their own choice. Greece may make one tonight.
Well that may have seen “ridiculous” for Germany reunite back in the 90’s who would have thought! Europe will is very strong. Anyway let’s agree to disagree.
The Europe iseeis in disarray, with half the Eurozone on the verge of secession.
It’s in the book of Daniel (old testament) with the revival of the Roman Empire in the last days! what can you say about that (lol)?
Sorry Andy, I couldn’t disagree with you more about:
‘odds that a handful of “elites” not only have the ability to control billions of people (speaking thousands of languages, in hundreds of countries), but the desire to do so are not just zero, but less than zero’
You’re excellent in your reading of short-term & mid-term tea leaves, parsing of complicated & inter-connected financial data (lies). But you’re very wrong in the above “belief” as well. All you need to do is study last 300 years of history of India, China & Russia, as well as read following 3 books by Anthony Sutton who taught at Stanford University & was with the Hoover Institution there:
Wall Street & the rise of Nazi Germany
Wall Street & the Bolshevik revolution of Soviet Union
Wall Street & Franklin Delano Roosevelt
But we’re in 1000% agreement on the need of precious metals to protect ourselves, and that’s what matters.
You’re disagreement is welcomed. That said, you can read all the books youwant, and you still won’t be able to produce a shred of PROOF.
Haha, what you’re saying sounds equivalent to a CNBC “anchor” saying:
“You can read all the GATA reports or Andy Hoffman blogposts you want, and you still won’t be able to produce a shred of PROOF of precious metals manipulations on COMEX.”
Anyway, that’s the last I’ll say on this topic as divisive discussions aren’t constructive & are of no use at this moment.
Not the lastword. Shame on you, comparing me to Cnbc! Iwrite of facts and evidence, they don’t.
That’s why I am credible and they are not.
Anthony Sutton wrote of facts & concrete evidence. It’s all there to see in his books, how the same criminal elite played all 3 (or 4 if including Empire of Japan) sides of the conflict in WWII, bringing about unseen mayhem & destruction to the planet.
Anthony Sutton’s work is credible.
I compare GATA’s work & your blogposts about crimes on COMEX to Anthony Sutton’s work. NOT CNBC.
Thank you Andy for your constant, unswerving dedication to keep the updates flowing, as to the overwhelming and constantly mounting criminal evidence of economic manipulation.
What is up with the (BDI) Baltic Dry Index?
Virtually all global macroeconomic indices are in a spiraling down trend, with most bottom bouncing or just simply crashing.
Yet the BDI over the past 4 weeks has mysteriously spiked upwards by 263 points above it’s 6 month average of 652 to 915 points! What’s up with that?
Where is the demand for dry bulk shipping coming from? Just what is being shipped? All commodities according to both the CRB and DBC have tanked, showing no demand. Something just does not add up, and here we thought that the BDI stats could be trusted as true, free from manipulation. Or are they?
The bdi has heavy seasonality, so it’s best analyzed year over year. I don’t have it in front of me, but im guessing that on that basis, it’s at a multiyear low.
Yes, seasonality seems to correlate on a 5 year chart with an up move during the April & July period. Still, a +30% move up in just the past 4 weeks, seems suspicious considering the state of the macroeconomic picture.
Hi Andy – Long time lurker, first time responder to your articles… I’ve been reading you and Bill Holter for over a year and very much appreciate your candid assessments and practical, realistic approaches to the calamity we are watching unfold.
I do not share the view of those who believe this is all orchestrated in an ‘us vs them’ dialectic. I am amazed how so many say the east / west schism is contrived, but then they buy into this notion of oligarchs vs. everyone else – which to my mind is just more of the same. This game of nations and economics is happening because there are many players with many different agendas interacting together on the same board. Every one of them is trying to either stay in power, win more power, or are being pushed around as pawns. While there are some stronger players, I don’t think this resolves around just 2 axis, and I agree that no one wants the ultimate blame for what everyone knows is going to be a huge meltdown of credit and all currencies.
Sadly, everyone is looking for a ‘reason’ for why things are what they are, or why what is about to happen will happen. The reasons always very, but the destination is still the same. Central banks do what they do to keep the wheels on the bus, politicians give away free stuff to get elected, and corporations pay for politicians to eliminate competition and keep the spice (revenue) flowing. If this were a contrived circumstance to get to NWO, they could easily done it by now and much more efficiently. Those who believe ‘they’ (whoever ‘they’ are) want to stem the possibility of revolution are fooling themselves. There will be strife and conflict no matter how things play out because alot of someones MUST lose, if we are to believe ‘they’ win.
In any case, thanks so much for all you do. You continue to show me why the decisions I’ve made so far are correct for my family, and why I too can sleep the ‘sleep of the just’.
Thanks for the comments, and their practicality.
Conspiracy sells; and moreover, it gives, as you say, someone to “blame.”
As always please keep it coming. I appreciate your indepth analysis and non nonsense clarity!
There have been rumors flying around this comng Fall the IMF will approve the Chinese/Yuan to some type of reserve currency status. Have you heard anything about this?
Again, thanks for what you do!
Thanks Mike, but it is such “conspiracy theories” I am railing about.
I don’t think it’s either teams of conspiracy or madness, but rather a gut level, personal EVIL, lurking just below the surface, and being played out in the lust for power, lust for other’s goods, and the pride of “winning”! It’s every man (and woman) for him/herself…
I have been following your articles for some time. I am waiting for the big leap upward of gold and silver prices. In the late 70’s the same events were occurring. I felt the same then, as you do now. For all of the doubters, I bought 200 oz, of gold then for $180/oz and look at it now. Your fundamentals are right on. The laws of simple economics never change, and results of flawed government intervention
Yes, “Economic Mother Nature” always wins!
I will add, further, at that I time.( in the 70’s) I didn’t( and even now) have any “financial advisors” or even an accountant. Just the issues you bring up and a few others at that time ( Libertarian, author, Harry Browne) made sense. Plain and simple.
the world wide network of the central banking cartel takes care of one another as proof during 2008 with 16 trillion of swaps. Who owns the fed exactly? Do we really know? Is it old families or just the Wall Street banks? 400 billion a yr in int income can influence anybody. Govt agencies , do we really know them all –and what they do? No we don’t have that info so we need to speculate. Does 3 steel buildings collapse from office fires in 2 hrs ? No, not conspiracy, it’s science. Patriot act takes away our rights. Large multinational corporations rake in billions to pay off the politicians to increase profits. They will pass laws like TPP that we are not allowed to read. Police state with MSM constantly promoting fear on population and now allowed to propagandize the public are all fact. War on terror is not real, weapons of mass destruction in Iraq not real. False flag shooting to pass stricter gun laws in Connecticut are all true. Yes I have to speculate in this f up world as everything you see and hear is a lie. The EU screwing Greece is just more example of taking control of a country and I have to assume the EU was therefore a way for a small group of people ruling over 20+ nations. It’s not conspiracy its a hypothesis based on unknowns and facts. Out of all this I see a totalitarian system being put in place by multinational institutions mixed in with bankers and governments – I see usa being like China, you can still go to movies and laugh and have fun but you’ll have no rights , no guns , no day in anything.
No say in anything against the new system I meant to say at the end
Do you believe vaccinations are harmful? Is there a Pharma conspiracy to use government power to enrich itself by forcing everyone to take vaccinations? Are California legislators not bought off to accomplish exactly this, and it’s not a conspiracy? And these vaccinations, causing chronic disease, further enrich Big Medicine by causing recurring hospitalizations? And is not this being planned to be extended to the other 49 States? Really how can you express such denials of concentration of power? No arson fires have ever been proved either. How much power could a small group have, just by controlling one man—the President? IMO you state a denial because otherwise you’d lose Eagle dealer status with the Treasury Department.
Geez, did you not read my article? Of course there are conspiracies – my god, who writes more about PM manipulation?
I am talking about conspiracies to coordinate efforts to take over the world. And as for vaccinations, read what i wrote a few years back…
The madness takes them from the ridiculous to the sublime. Crazy talk from the EU of 30 years to pay back the Greek billions. As if they could ever pay it back under any terms! Another 80 or 90 billion can only help, right?
The Greeks must be playing for time to set up their Russian collaboration on the German’s dime. In the meantime, Tsipras had best be careful which airline he flies on….