Markets Are Always Right
The fundamentals are really worthless because you can always extract just the ones to support your current view to “talk your own book” as they say. The Dow Jones Industrials bottomed within the channel nicely on the daily level and thetarget was on point as well the first week of October – the 9th (see Array). This is NOT a pattern of a major top. This is a basing pattern and equities may be the last savior we have. If you cannot store gold, you cannot keep excess money in a bank, and if you are European, well you may just have to get as much out of Europe as you possibly can – equities are movable, transportable, and liquid.
This is why I do not like people who try to pretend the sale in gold on Friday was not real. It is better to realize the trend sh you DO NOT buy losing your shirt and then lose confidence or your marriage because you followed some gold “analyst” who just talks it up and his own self-interest. If the market is doing something you think is wrong, well may be you better check you logic.
IMF Reports
Those interested in the IMF Report – here is a link
There is nothing new under the Sun. It has ALL been done Before
QUESTION: You mention the following comment recently. ”I am very concerned about are precious metals even going to be viable. Will this confiscation of wealth turn to those assets as well?” Could you expand on this please.
ANSWER: This is merely my personal observation. India has virtually stopped the buying of gold there driving it underground. Many are trying to smuggle their gold out to Singapore where there are major storage facilities for Asia. We have seen laws in France banned buying or selling of gold in cash. The French even have limited ATMs. I could get 1,000 SF in Switzerland, 1,000 Euros in Germany, but only 200 Euros in France.
Governments are tracking gold. Not to suppress the price, but to keep an eye on who has what. France just proposed a law making it illegal to close your business there. There are no guarantees any more because there is no rule of law. Governments are desperately trying to retain power. The IMF suggests raising taxes and in Europe seizing 10% of all assets.
While the confiscation of gold by Roosevelt in 1934 did not involve a search house to house, today the NSA has everything. Snowden warned that they need only enter your name and/or email, and everything comes up from banks to phone calls. You do not gather this amount of information and store it because you are looking for 19 guys and a camel. They are doing this for money – yours.
So honestly, all bets are off. Can you buy gold and store it in a safe-deposit box – hell no. That is illegal and can be interpreted as “money laundering” allowing them to just take it under current laws.
They will be seizing all pensions. I cannot state with any degree of confidence that you can buy gold and not have to worry, The difference this time from 1934, they know who has what so they can target individuals rather than search every house.
This is just my observation. I am concerned deeply about the future and this is why I even do this for free. The tree has been cut. Which way it falls depends upon how many realize the risks on the table and make some effort to educate others bringing them out of the fog.
The world is full of obvious things which nobody by any measure ever pays any attention until it is too late, The Problem is clear. Government relies upon the simple fact that you may see with your eyes, but you do not observe either side of a linear path. The distinction is clear. Observe and survive, or pretend nothing is wrong and die in the chaos.
There is nothing new under the sun. It has all been done before.
Of Course there was a Deal
Of course as always after weeks of political brinkmanship over a possible US debt default, the deal was reached after House Republicans dropped efforts to use the legislation to force changes in Obamacare. President Obama quickly signed the spending measure. After 16 days off, the White House budget office told hundreds of thousands of federal workers to be ready to return to work on Thursday. The deal may be the death-blow to the Republican Party and we will see if this is the event that historians will refer to as THE EVENT that destroyed the Republican Party.
The deal does not resolve the fundamental issues of spending and deficits that divide Republicans and Democrats. It funds the government until January 15 and raises the debt ceiling until February 7, so Americans face the prospects of another bitter budget fight and another government shutdown early next year. This is like the deficits – they will continue to spend more than they collect and they will always borrow more each year. Like this problem is just going away – Good one!
Post Offices Going – Economic Evolution Changes Everything from Gold to Newspapers
Britain is privatizing the Royal Mail because the internet has reduced the use of mail for letters. The workers are striking as always trying to freeze the economy in one place. Packages are still required, but things are changing drastically. The bulk of mail these days in the USA is junk mail. The Post Office is hopeless and it too should be floated for that will be its only hope. The pensions will vanish for it will be forced into bankruptcy, which as a public entity simply means the taxpayer must subsidize the pensions forever.
What is taking place is simply that the evolution of the economy, which is always moving with technology, is simply the way things happen. This runs the full gambit. The internet has changed everything so people rely on emails rather than letters. You can pay your bills on-line and elect paperless bank statements to assist the NSA in building its financial profile of everyone. Newspapers are read really by the older generation and as they vanish into the sunset, the younger generate will dominate making magazines and newspapers a thing of the past as they head off into the same place 45 and 78 rpm records went followed by the 8 track tapes.
Money has also changed. Stand behind a young kid at Starbucks and they pay with Google Wallet just holding up their IPhone. Those claiming we will return to tangible money are most likely clinging to their newspapers as well. When cars appeared, the buggy manufacturers demanded laws against this new contraption. They were replaced. The funny thing about the economy, it is like the ocean – it is forever moving.
Edward Snowden Has Still More?
Edward Snowden has more secrets to share, his father says after landing in New York following his week-long Russia visit with his son. Snowden is a true champion of liberty and human rights. The very fact that the US government seeks to imprison him and torture him for life demonstrates how twisted the government has become. They consider themselves as the “nation” rather than the people who seem to be ants just to observe.
Destroying the World Economy
QUESTION:
Martin,
Luckily I was turned onto you by — ——— (who has been wrong, wrong, wrong…) while you were incarcerated. I thank god — for turning me onto you, as it is your reports and insight that have not only saved me – but made me a small fortune. I traded physical gold/silver for a living for a large metals dealer in Newport Beach and shorted silver the day you suggested it had hit a high in 2011…all the brokers thought that I was absolutely nuts for shorting as silver was heading to $65 and gold to $2,500!
For I had been passing out your 100 page (typed at the time) reports to other brokers as the B.S. we were being fed at the company didn’t add up with your work. After hearing from a few of these brokers recently, nearly all of them has suggested that they wished they had read your reports and done their own independent research to verify the validity of your work versus the B.S. that was being fed to them by the company and other “analysts” (too late for their “books” and their clients hard-earned money). It has been much easier to tell a client who has lost their hard-earned money that the market was manipulated lower – rather than taking personal responsibility for a poor trade.
I no longer trade for retail clients as I have moved to the rare coin business. I thought that I would be able to avoid all of the hype about hyperinflation and a one world currency, but I continue to hear this nonsense daily. My primary concern about staying in metals business comes by way of a complete lack of confidence the public will have in the metals at the lows as well as their ability to purchase gold/silver. Do you believe that this business will thrive in years to come or will a lack of money and confidence hinder my ability to make a decent living?
Sincerely,
ANSWER: It is true. The Gold Promoters never take responsibility for being wrong and blame it on manipulation and they say buy more. I built a business that became the largest ever by amazingly telling the truth. One of the largest top 10 banks in the world took me to dinner and asked how we came to be so large. I told them simply by telling clients the truth.
We are in a battle for our economic survival and our liberty. The tree has been cut. Does it fall to the left or to the right? It is up to us to gather as many people as possible to try to save our future from our past. This is not a time for nonsense and false claims or fake analysis.
I am very concerned about are precious metals even going to be viable. Will this confiscation of wealth turn to those assets as well? When you are dancing with the devil, anything becomes possible. Hyperinflation will not take place. They are hunting everything. The Republicans may lose in 2014 and their party is likely to crumble apart and we will see the rise of Fiscal Conservatives in 2016, but in response to draconian taxation and just outright crazy laws.
The Swiss bureaucrats have totally screwed up the banking system. They have surrendered the sovereignty of their nation to the USA. Banks here are now liable back to 2008 for any claim the US decides to press retroactively. If an American closed an account here in 2008 and the USA claims that money was hidden from taxes, the Swiss bank can be fined by the USA and the fine can be more than the bank is even worth. The Swiss banking industry is shrinking drastically and nobody want to buy a back here because of this insanity.
Noe imagine the French, British, and Germans all demand the same rights. You cannot get out of the banking business fast enough. These people are collapsing confidence in everything. Will we have no other option than to also bury our wealth as did the Romans during the 3rd century for banks could not be trusted? This is just total complete insanity. Forget storing metal. Those days are just gone. A thousand years from now, perhaps they will be digging up hoards of money and hoard that people at this moment in time bury.
What lies ahead is an economic wasteland because governments are destroying the entire world economy. They cannot see what they are doing because it is all about them maintaining power.