It’s Wednesday night, and I just returned from dinner with my new boss, Andy Schectman, and his lovely wife Zhanna. My first day at Miles Franklin is nearly done, except for the RANT in front of me, which I’m looking forward to. I am 100% sure this relationship will be the best of my business career, as EVERYONE at this firm shares my values, ideals, and creativity. Walking in the door this morning, and seeing the familiar GATA emblem in a picture frame behind the reception desk, I knew I truly found my home.
My first day was very, very busy. I sincerely appreciate the numerous emails from readers, which frankly complimented the firm as much as congratulating me for joining it. The reason for my expression of gratitude is the understanding that Miles Franklin’s principals are here to PROTECT you, as they have been for the past 20 years. Low prices are one thing, but EDUCATING and RESPECTING customers is what gives them the REPUTATION people remember.
Despite the frantic pace of my first day in the office, I learned a tremendous amount about the coin business in just a few hours. To start, the business has gotten far more competitive in the past year, with numerous competitors falling by the wayside. Only a handful of players are LEGITIMATE, GUARANTEED to not only get you your coins, but mitigate ANY and ALL risks to your hard-earned money to the best of their ability.
Also, that HUMAN NATURE is indeed 100% predictable.
Following OPERATION PM ANNIHILATION in late September, coin demand approached RECORD levels, with smart investors WORLDWIDE buying PHYSICAL gold and silver despite sharply rising premiums. However, this week’s demand levels have been the weakest in YEARS, despite gold rising $70 in the last two days ALONE! I believe retail buyers like myself (100% invested in Precious Metals) are already “all in”, and thus unable to add to positions any further. Conversely, deep-pocketed institutionals, such as the CHINESE and RUSSIAN GOVERNMENTS, are buying hand over fist now that they sense the bottom is in. GATA’s “STALKER” and Eric King’s “LONDON SOURCE” proclaimed MASSIVE Chinese buying supported gold and silver prices at $1,600/oz and $31/oz, respectively, and darn if they weren’t SPOT ON.
WAVES of buying will buoy gold and silver prices for years to come (until fiat currencies collapse, and a new era of HARD CURRENCY emerges), and in my view, the NEXT WAVE will commence when gold next approaches the $1,900 level, possibly later this year and DEFINITELY by the end of 1Q 2012. The Cartel will not be happy when this occurs, as this time $2,000 will be eclipsed like a knife through hot butter, likely amidst a backdrop of European chaos and, potential, U.S. calamity as well.
I was asked by several of my colleagues how I come up with so much material, and my answer is just the opposite; how can I write FAST ENOUGH to keep up with the array of new topics, particularly as Western economies plummet through the abyss at speeds faster than Galileo’s stones from the Tower of Pisa? For example, if I had all night, I could write tomes just about TODAY’s “horrible headlines”, such as the farce that is the current PPT-induced stock market rally…
…the collapsing U.S. economy…
…GLOBAL money printing gone awry…
…SURGING worldwide inflation, even at “Galt’s Gulch” in Argentina…
…RIDICULOUS rumors of BRIC bailouts…
…the ongoing PIIGS train wreck…
…and the comical expectations that Italy can right its ship. No offense to Italians, as everyone LOVES their “devil may care” attitude, dark black hair, and delicious food (particularly me, married to a full-blooded Italian), but economically they are as pitiful as the Greeks. The Italian government is run by criminals and prostitutes, their people are as dumbed down by ECB handouts as Americans by Reality TV, and the will to take responsibility for its actions non-existent. Sorry to all the people who “love Italians” because Rome is beautiful, but this country has become the joke of Europe, and will shortly pay for decades of laziness and sloth…
Oh well, pretty soon a RANTING MARIO will be writing the same thing about America…
Of course, the drama of the day, while gold and silver slowly creep back up, is “renewed excitement” of a potential deal to save Europe. Absolutely NOTHING has been agreed on, except to continue propping the stock market and promising an “imminent solution”, and NOTHING will be agreed on, as it is MATHEMATICALLY IMPOSSIBLE to “save the day” without collapsing fiat currencies against the value of REAL ITEMS OF VALUE, such as GOLD, SILVER, FOOD, ENERGY, and OTHER LIFE NECESSITIES.
Yes, there will be “news” touted as “positive”, but all such propaganda proves (such as tonight’s BREAKING NEWS of a Greek haircut deal) is the system is becoming more insolvent each day, and GLOBAL QE a fact of life which will only ACCELERATE each passing week.
Wow, I’ve written a lot already, and haven’t even gotten to my point. Like I said, just too much to write each day, just to keep readers abreast of WHAT is happening in the world, WHY you need to feel more CONFIDENT in your PHYSICAL precious metals ownership, and WHY you need to exchange as much worthless SCRIP as possible in favor of REAL ITEMS OF VALUE.
OK, so why Fargo?
No, it’s not because of Dakota Depository there, although that would certainly be a great way to cross-market. It’s due to one of my favorite movies, Fargo, which I’ve written about numerous times in the past due to its parallels to the current, untenable plight of TPTB.
My colleague David Schectman has a unique ability to present both sides of a story, enabling readers to determine which side is right, and which side wrong. Recently, he has presented the testimony of his friend “David R.” a long-time metals trader who apparently has done well over the years. He, like Jeff Christian, purport to “know” what is happening in the markets, that they “know all the players” and thus can GUARANTEE what is REALLY going on.
David R. claims he “knows the JP Morgan traders”, and “knows” JP Morgan has vaults full of silver in the Far East. Jeff Christian says he “knows” the Goldman Sachs traders, as well as the J. Aron traders from the 1970s (sorry Jeff, you’re not that old).
As if “knowing traders” MEANS anything to me. “David R.” has the nerve to say gold falls at 3:00 am EST each day due to “illiquidity”, perhaps the most ridiculous statement I have ever heard. What about “illiquidity” causes an asset to fall in the middle of the night 9 of 10 times, particularly one amidst an eleven-year bull market? And what about the open of the COMEX at 8:20 AM EST, or the London PM FIX at 10:00 AM EST, or the “cap of last resort” time of 12:00 PM EST? Is the gold market “illiquid” then?
He also claims no gold conspiracy exists because it would have been discovered long ago, with whistleblowers galore.
Such “whistleblowers” would surely have their lives ruined, or possibly snuffed out, but why would that matter? Not to mention, most potential whistleblowers have made tons of illicit profits trading with the Cartel, something I’m SURE they’d like to give up in exchange for injury, prison, or even death. Or, of course, that most people don’t even QUESTION their surroundings, much less take their heads out of the sand long enough to complain. I mean, what could possibly be wrong with JP Morgan holding $80 billion of gold derivatives or COMEX silver shorts worth many multiples of global production, or inheriting a MASSIVE silver short position from Bear Stearns?
Pay no attention to the fact the “London Gold Pool” was an OFFICIAL gold suppression Cartel in the late 1960s, or that countless Federal Reserve QUOTES, from CHAIRMEN such as William McChesney Martin, Paul Volcker, and Alan Greenspan alluded to gold suppression. No, there’s just NO WAY governments would want to control the gold price, particularly because “David R.” and Jeff Christian say they “know JP Morgan and Goldman Sachs traders.”
No, it was not ALWAYS a conspiracy, and it certainly didn’t start EXACTLY in 1996 when Robert Rubin first uttered the word’s “strong dollar policy.” Just like the “President’s Working Group on Capital Markets”, which benignly commenced operations in 1987 (as a last line defense against market crashes), the “Gold Cartel” was initially a figment of Larry Summers and other moronic politicos’ imaginations, a “hypothetical” way to control markets in times of need, to maintain CONFIDENCE and positive PERCEPTION about the U.S. and its “stock”, the DOLLAR, during crises such as LTCM, the “tech wreck”, 9/11, and the housing crash. No matter that all historical attempts to control gold and support fiat currencies had failed – Larry Summers went to HARVARD, so he MUST be smarter than all the failed economists of history.
In the beginning of Fargo, the only problem was William H. Macy’s character, Jerry Lundegaard, owing some money, and being too proud to tell his disapproving father-in-law. Just as the U.S.’s problem was simply that its debts were growing rapidly while its industry was leaving for the Far East, and its government didn’t want to admit a significant recession was coming.
Jerry then arranged a “sure thing” kidnapping of his wife, which no doubt would get him the money (ironically, from his father-in-law) to pay off his debts. Just as the Fed decided that lowering interest rates and repealing Glass-Steagall would restore the economy to prosperity, allowing it to “grow out of its debts.”
Unfortunately, Jerry hired morons to kidnap his wife (actually, they were hired by his mechanic, Shep Proudfoot), accidentally killing her in the process. Just as the Fed’s reckless actions created unforeseen inflation, a housing bubble, and reckless bank speculation in risky ventures such as derivatives and mortgage-backed securities.
Next, the kidnappers were dumb enough to speed in a stolen car with a dead body in the trunk, leading to the death of a policeman, two innocent drivers, and a parking lot attendant. Just as the Fed and its henchman Hank Paulson fed TARP to the public, destroying the financial system and throwing fuel on the global inflationary fire.
Finally, the kidnappers killed Jerry’s father-in-law and each other, while Jerry went to prison for multiple murders, including his own wife.
Get my drift here?
OF COURSE TPTB are manipulating financial markets (stocks, bonds, currencies, and commodities). In fact, ALL of these markets are being rigged OVERTLY EXCEPT Precious Metals, which not only is the smallest, and most manipulatable, but represents the LINCHPIN of the ENTIRE GLOBAL FIAT CURRENCY SYSTEM. If you want to believe Jeff Christian and “David R.” that markets are free because they “tell you so”, feel free, and be prepared to lose your shirt.
OR, you can listen to little ‘ol RANTING ANDY, who only has been DEAD RIGHT for the past decade, and buy PHYSICAL gold and silver to PROTECT YOURSELF from the economic collapse that will continue to accelerate until NOTHING is left standing. Not to mention, the views of investment LEGENDS such as Jim Sinclair, Richard Russell, James Turk, Jim Willie, Gerald Celente, Bill Murphy, John Embry, and Eric Sprott.
Yeah, those guys are WRONG, and Jeff Christian and “David R.” are RIGHT.