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Gold is a currency, not an “asset,” like stocks and bonds.   You don’t buy with delusions of grandeur, hoping that some greater fool will pay more for it tomorrow than it is worth today.  The “fool” is the person who is not buying it now, at lower prices, but follows the crowd and jumps in when it becomes fashionable, and then he overpays for it at a much higher price.  That’s the real fool!

We had our annual office party on Friday evening.  It was really nice – warm and happy.  2013 was a trying year, but we all know this is just a bump in the road and we can hardly wait for 2014 so we can get back on track.  All of us believe that gold and silver will hit all-time new highs in 2014.  We really do.

Monday is a travel day for me.  Susan and I are heading back to Miami.  I will not be writing a daily for Tuesday, but will resume writing on Wednesday.

Be sure and read the article by Alex Stanczyk: Gold Physical Supply Never Been Tighter in the Featured Articles Section under Jim Sinclair.

Here is my favorite article today below:

Warning: Jobless rate may be rigged

By John Crudele

December 7, 2013 | 5:03am

The most curious thing of all about the November jobs report released on Friday was the huge drop in the unemployment rate — and the fact that the Labor Department chose not to disclose that the data going into that figure are under investigation for falsification.

On Nov. 19, I broke the news in my column that the Census Bureau, which collects data that goes into the jobless rate on behalf of Labor, had caught one of its enumerators fabricating interviews in 2010.

The culprit said back then (and to me during an interview) that he was told to do so by Census supervisors who were in the position to instruct others to make similar fabrications.

In fact, a source who I haven’t named but who is familiar with the Census data accumulation process has told me that falsifications have been occurring on a regular basis.

Read More…

Here is the most important story of the day below from Zero Hedge.  Gold is biding its time, waiting for the next Black Swan event.  Is this it?

Japan Press: “China-Japan War To Break Out In January”

Submitted by Tyler Durden on 12/08/2013 16:51 -0500

Following China’s unveiling of its air defense identification zone (ADIZ) in the East China Sea, overlapping a large expanse of territory also claimed by Japan, the Japanese media has, as The Japan Times reports, had a dramatically visceral reaction on the various scenarios of a shooting war. From Sunday Mainichi’s “Sino-Japanese war to break out in January,” to Flash’s “Simulated breakout of war over the Senkakus,” the nationalism (that Kyle Bass so notably commented on) is rising. Which side, wonders Shukan Gendai ominously, will respond to a provocation by pulling the trigger? The game of chicken between two great superpowers is about to begin has begun.

Via The Japan Times,

Five out of nine weekly magazines that went on sale last Monday and Tuesday contained scenarios that raised the possibility of a shooting war.

First, let’s take Flash (Dec. 17), which ran a “Simulated breakout of war over the Senkakus,” with Mamoru Sato, a former Air Self-Defense Force general, providing editorial supervision. Flash’s scenario has the same tense tone as a Clancy novel, including dialog. On a day in August 2014, a radar operator instructs patrolling F-15J pilots to “scramble north” at an altitude of 65,000 feet to intercept a suspected intruder and proceeds from there.

Read More…