On his weekly podcast, Andy Hoffman discusses market manipulation, gold and silver, national debt, food prices increasing, QE, Japan, Obamacare and unemployment.
Audioblog #34 – Something Very, Very Bad Will Happen Very, Very Soon
by Archive Writer | May 15, 2014 | Audioblog | 4 comments
Andy,
Thank you for this important and timely update.
Food in Oklahoma is getting so expensive, it’s getting scary and concerning.
You’re very welcome!
a
Andrew, I keep reading the Belgium treasury purchases reported as if Belgium owns these treauries. The recent treasury purchases by Belgium are in a custodian account, however. Belgium is not representing that they own these treasuries. Unless I misunderstood something, I think it is important to clarify the difference and not compare the purchases to Belgium’s GDP as if they somehow are indicating that they funded these purchases themselves.
In any event, I agree with Dr. Paul Craig Roberts, yourself, and others, who conclude the mystery buyer is almost certainly the Federal Reserve. The smoking gun is both the timing and the numbers. This picked up steam late in 2013. The numbers nicely offset taper claims. As we all know, the fed will tell us they are tapering to the end of the year but they will have to continue their bond purchases through some other covert means.
But keep an opened mind… The ECB or even Japan are other candidates. I’d even go out on a limb and say it could be China. Dont forget that China recently started to allow direct gold imports, bypassing Hong Kong, in an apparent effort to be more opaque about their central bank purchases of gold. Their political needs may be clashing with their balance of payments needs and creating an incentive to hide a ramp up in treasury purchases. I dont put much weight into that theory but there is a plausable scenario there. Russia, who transferred some of their treasuries out of the fed might be in this total, but that would be minor.
Can you please explain the rationing by the mint that you mentioned? I don’t see any evidence of a shortage. Premiums on silver eagles and maples are at a historic lows. They are producing an absolutely massive number of coins; especially Canada. If there was rationing we wouldn’t see rock bottom premiums. I can also confirm that customers are getting delivery as promptly as ever.
Thanks for your hard work!
Mike
Mike,
“Custodian” or not, it IS the government purporting to buy. This is nearly $400 BILLION we’re talking about. And yes, it IS the Fed/ECB, etc. – take your pick. This is as blatant as it comes; unless, of course, one considers the mysterious “Caribbean banking centers” that came out of nowhere to own hundreds of billions of Treasuries – or sudden buying binges by the equally broke British government.
As for the rationing, the signs are EVERYWHERE of shortage on the wholesale (large size) market – from high premiums, to low inventories, etc.. Now we are seeing it on the low end to, at the Mint. SOMETHING is occurring, and I sense we’ll know what it is one of these days.
a