PM Daily Market Commentary - 11/12/2014

davefairtex
By davefairtex on Thu, Nov 13, 2014 - 1:05am

Gold dropped -1.20 to 1161.80 on heavy volume; silver fell -0.03 to 15.65 on moderate volume.  PM traded in a relatively tight trading range all day long, with gold and silver moving very little and both printing a doji - I interpret this as a sign of relative strength, given the dollar rally today.

The USD closed up +0.29 to 87.90 - erasing its losses from yesterday and then some.  The Euro continues looking weak, as does the Yen and the Pound.  A few days ago I thought the other currencies were setting up for a rally, but after the past few days - now I'm less certain.  The Euro could go either way, but the Pound and the Yen are both looking quite weak.

Mining shares did not like the dollar rally; as soon as the buck started moving higher, miners sold off relatively hard and stayed down for most of the day.  Still, in the last minutes of the trading session, buyers emerged and pushed the mining ETFs right back to even - GDX closed up +0.11% on moderate volume, while GDXJ dropped -0.51% on moderate volume also.  GDX closed above its EMA-9, while GDXJ closed right on it.

When traders buy the dip into the close in the teeth of a dollar rally, that feels like a bullish outcome to me.

SPX dropped -1.43 closing at 2038.25.  Equities sold off a bit, but the dip buyers showed up as usual pushing the market back up to almost even by end of day.  VIX rallied, then fell, closing up only +0.10 to 13.02.  The SPX has had only a few down days over the last 20 trading sessions; the strength has been quite steady, and anyone hoping to short this market needs to wait for some indication of weakness prior to jumping in.  So far - no weakness at all.

TLT dropped -0.08%, continuing to chop sideways.  JNK closed down -0.17%; it is also in a holding pattern.

The commodity index fell -0.33%; the "commodity rally" seems to be two steps forward, one step back at this point.  Oil isn't helping; WTIC dropped -0.63 to 76.90, and Brent dropped -1.27 to 81.12, making a new low in the process.  Oil can't seem to rally to save its life.  Both oil contracts remain below their EMA-9, as has been the case for most of the last 4 months.

Commodities look iffy, oil looks just plain bad, gold and silver have yet to rise above their EMA-9.  Still, miners look positive, and I'm going with the story that "miners lead gold".  We'll see how that ends up soon enough, I think.  But it would be really helpful if the dollar cooperated...

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Trader Dan Channels Jim Sinclair to Deconstruct Manipulation

In a recent post on his blog, Trader Dan Norcini (formerly a commentator at King World News) deconstructs the standard King World News manipulation explanation using analysis from Jim Sinclair to do so - although truth be told, it was a 2006 version of Mr Sinclair.  Still, I found Dan's analysis compelling.

Some tidbits from his article: http://traderdannorcini.blogspot.com/2014/11/another-eureka-moment-for-gold-bugs.html

Here is a series of questions that none of the gold price suppression scheme advocates will deal with honestly? Why is the Dollar no longer falling against nearly every single currency in the world? Why is the price of nearly every single commodity falling? Why is the TIPs Spread falling? Why is the Velocity of Money falling? Why are the Central Banks desperately trying to fight off Deflationary pressures and longing for their target of 2% inflation and failing to meet it? Why can anyone expect gold to be moving higher in a deflationary environment in which the price of most commodities, especially energy prices, continue to fall?

Keep in mind that none other than Jim Sinclair had written quite elegantly many years earlier about what he correctly termed the FIVE PILLARS of a BULL MARKET in Gold.

Among those are two key pillars and I quote:
1.) RISING COMMODITY PRICES
2.) A FALLING US DOLLAR

Jim noted that these were present during the great bull market of the late 1970's. Guess what? they were also present during the bull phase of gold which lasted from 2001- 2012 ( it began faltering in 2011).

Ok Dan, let's go find out more about these five pillars.  A little digging reveals the following picture:

http://3.bp.blogspot.com/_m5i6pLhlNWU/TH5xQPqutTI/AAAAAAAAC9I/-cXgZNVssn8/s1600/Five+Golden+Pillars.jpg

  1. Top in the USD
  2. Trust in US Paper assets declining
  3. Bullish Commodity Markets
  4. US Budget Deficit, Current Account Deficit, Trade deficit firmly in place
  5. Top in the US Treasury/Long Bond

Ok, so where are we on those five pillars?  In my analysis, I will use "weekly" charts and the MA 200, MA 50, and EMA-9 to give us a non-emotional perspective on the longer term trends of the various pillars:

  1. Top in USD: 100% FAIL, total uptrend (price above MA 200, MA 50, EMA-9)
  2. Trust in US Paper Assets Declining: 100% FAIL, SPX total uptrend (price above MA 200, MA 50, EMA-9)
  3. Bullish Commodities: 100% FAIL, total downtrend (price below MA 200, MA 50, EMA-9)
  4. US Budget Deficit, Current Acct Deficit, Trade Deficit: 30% FAIL - US budget deficit declining (was 1.5 trillion, now a run-rate of about 600 billion per year)
  5. US Treasury top: 100% FAIL - total uptrend (price above MA 200, MA 50, EMA-9)

Four of the five pillars just don't exist - items 1, 2, 3 and 5 are about as non-supportive as they could possibly be.  Only the trade and current account deficits show any problems at all.

Rather than searching out a scapegoat and constantly blaming Mr Fed-The-Scapegoat for every ill we suffer, it seems like a more productive approach might be to perform a dispassionate analysis on the market, so we don't let that "desire to be right" lead us astray.

My sense is, the "gold is manipulated all the time" crowd are so desperate to be right about their gold trade, they forget about the clear, steady logic that got them into gold in the first place.  It wasn't money printing, or Fed policy - it was those really simple five pillars.

At some point in the future, these pillars will be in place again.  When they do, I predict gold will do quite well, regardless of what "the Fed" may try to do.   But until the worm turns, why gnash our teeth and constantly beat on The Big Fed Scapegoat when we only have zero-point-seven out of 5 pillars to hold up our gold bull market?

Back when those five pillars were in place, gold rallied strongly.  Nothing could stop it.  Not even The Fed.

For further reading, Dan also penned this deconstruction of Paul Craig Roberts and his "shocking interview" over at KWN - the number of misunderstandings that PCR had about the marketplace apparently pushed Dan over the edge.  I will include one paragraph I liked best, but I encourage you to read the whole article:

http://traderdannorcini.blogspot.com/2014/11/paul-craig-roberts-and-spread-of.html 

[Speaking of the manipulators]  ... these authorities are rather remarkable ... they have singlehandedly managed to simultaneously knock down crude oil, unleaded gasoline, corn, wheat, soybeans, heating oil, copper, platinum, etc. at the same time. They have also managed to take the TIPS spread and change its entire direction, when it should be going up - based on Mr. Robert's view - instead of what it is currently doing and going down. They have also managed to push the Russian ruble lower, the yen lower, the Euro lower and nearly every other currency that exists, all against the Dollar, which they have somehow mysteriously managed to levitate in spite of the fact that in Mr. Robert's view, "it has no value".

One of my favorite things about Dan is that he drags out charts and other bits of evidence to support his claims.  I happen to like evidence-based approaches.  I don't agree 100% with everything he says - but I can understand why he thinks a certain way, and it is always evidence-based.

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Trader Dan / Casey article

Excellent analysis. 

Looks like the PMs could go either way or just grind sideways for a while. My plan is to continue dollar cost averaging physical and steer clear of anything speculative until we clearly see a couple more of those "pillars."

I think Dan took PCR a little out of context there, although PCR is certainly a bit of a sensationalist. 

Bud Conrad over at Casey had an outstanding writeup yesterday detailing the banks ability to move price:

http://www.caseyresearch.com/articles/paper-gold-and-its-effect-on-the-g...

 

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Ahhh, the calming balm of the anti-manipulationist narrative

I was feeling tense again this morning thinking about the consequences of Japan, the third largest economy in the world, having the box they are in tighten to the point where they need to print enough money to buy all the bonds, AND some stocks too.  But then I see that the Gold market is still calm, and pricing Gold at below the cost of mining.  And then I see Dave's comment, which helps me (OK, well not me actually) to believe that what the market is telling me is true.  Even in the face of so many concerns, the market participants, on balance, want to sell Gold.. all must be well, right?  It all makes me think of this quote;

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”

Joseph Goebbels

Dave has in the past reminded us that the Comex is a physical delivery market.... but the truth is that this is a very tenuous connection to physical, as outlined in the Casey article linked above;

I explained in my October article in The Casey Report that the Comex futures market structure allows a few big banks to supply gold to keep its price contained. I call the gold futures market the “paper gold” market because very little gold actually changes hands. $360 billion of paper gold is traded per month, but only $279 million of physical gold is delivered. That’s a 1,000-to-1 ratio:

Market Statistics for the 100-oz Gold Futures Contract on Comex
  Value ($M)
Monthly volume (Paper Trade) $360,000
Open Interest All Contracts $45,600
Warehouse-Registered Gold (oz) $1,140
Physical Delivery per Month $279
House Account Net Delivery, monthly $41

http://www.caseyresearch.com/articles/paper-gold-and-its-effect-on-the-g...

Whatever.  For me, PP.com is a wasteland for metals commentary.  As with Dryam and others who commented recently, I cannot help but think that our metals analyst is really a minder from the status quo, here to calm us.  Here to let us know that Gold will tell us with it's price action when it's finally time to buy.  Here to tell us that there won't be an overnight revaluation due to the coiled spring finally bursting.. because, because, there is no coiled spring.  Good luck with that. 

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bashing (v2006) Jim Sinclair

JimH-

I'm not quite sure how you can bash the 2006 version of Jim Sinclair so readily.  Me, I like that version of Jim that was able to successfully predict the bull market so accurately and the bear market as well.  During a bull market, you can say just about anything and that is no proof you are right; it is predicting both bull and bear that gets my attention.  If you'd followed his five pillars, you would have sold gold at or near its highs once the strength of the five pillars started to recede.

The conditions today: dropping commodities, rising dollar, rising US treasury bonds, rising US stock market, and (so far) declining deficit - it all smacks of continued confidence in US paper.  Who needs gold in that environment?  Certainly not the hedge fund buyers at the COMEX.  Do they represent "truth"?  Don't be silly.  But they do represent a very large amount of money - money that moves markets.

So, will these conditions stay this way in perpetuity?  No.  Once they change, so too will the opinions of the COMEX hedge fund buyers, who will return to gold enthusiastically once the facts on the ground change, and then gold will really pop in price, Fed or no Fed.  I believe that everything moves in its own cycle.

I know, this talk of cycles is heresy to the members of the Church of Gold Must Always Rise.  "Ordinary things" have cycles, but gold must always increase in price or else it must be manipulation.  Even if the Fed has no need to manipulate prices lower since they're already really, really low.  Yet every move down is still called manipulation to please the Faithful.  Scapegoats are a time-honored way of distracting people from having to face reality - in this case, the reality that gold has price cycles just like everything else in the world.

If the goal is to buy straw hats during the winter, this seems to be a pretty chilly period right now for gold.  If gold has its price cycles, just like everything else, does it not make sense to take advantage of the "gold wintertime" and stock up?  Four of our five pillars are gone.  Price has been beaten down.  If gold acts just like any other market, why not treat it that way and attempt to buy low and sell high?

See, if gold is just a thing and not some sort of pseudo-religious iconic object to be revered, emotion is removed, and we can look at gold as just a thing with a price.  Either price is high, and should be sold, or low, and should be bought.  Jim Sinclair circa 2006 gave us a map.  Why not use it to our advantage?  Why must we always focus on "manipulation" as our sole lens through which we view the price of gold?

 

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davefairtex wrote: Yet every
davefairtex wrote:

Yet every move down is still called manipulation to please the Faithful.  Scapegoats are a time-honored way of distracting people from having to face reality - in this case, the reality that gold has price cycles just like everything else in the world.

But the "gold" price isn't actually the gold price -- it's the price of paper derivatives called "gold", trading with little or no actual metal involved. The only metal involved comes from the central banks who are willing to provide real metal to the exchanges demanding real metal at that particular paper price (because the central banks are the ones benefiting from "gold" price suppression), which ironically aren't even the exchanges that set the "gold" price. So basically how I see it is that the central banks let the bullion banks play their dirty derivative games manipulating "gold" price, making their paper profits as a result, providing that they keep "gold" paper price within a certain range. 

I will agree however that it is hypocritical for goldbugs to declare every down move as manipulation yet every up move as some signal that the paper traders are losing control. I argue that it's all manipulation, up and down -- because it's all paper trading. I also agree that the goldbug price forecasters grossly underestimated the extent to which the system would be contorted to keep the empire going. I remember Jim Sinclair's prediction that when it hit $1650, it would be off to the races and never look back. Well, instead it quickly spiked to $1900, then slumped down to $1200 for a few years. There is real danger in using fundamentals to predict markets that are totally manipulated, until those markets fall apart. When that happens is a bit of a guessing game.

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Manipulation is NOT the lens... reality is.

Let me deconstruct one of Dave's paragraph's

I know, this talk of cycles is heresy to the members of the Church of Gold Must Always Rise.  "Ordinary things" have cycles, but gold must always increase in price or else it must be manipulation.  Even if the Fed has no need to manipulate prices lower since they're already really, really low.  Yet every move down is still called manipulation to please the Faithful.  Scapegoats are a time-honored way of distracting people from having to face reality - in this case, the reality that gold has price cycles just like everything else in the world.

Dave uses the word, "cycles" three times.  This is a brilliant distraction..or should I say redirection, because indeed, asset markets do seem to have cycles, as does business in general.  The only thing is, Gold is money, and money does not have cycles... over the long run.. debt-based money loses value as debt rises, and hard money holds it's value.  

I fail to see the cycles here;

 Where are the debt cycles as priced in dollars?  I don't see them .  If Gold is the premier form of money, and I do believe Greenspan when he suggests this is so.. then why should it's buying power not rise more steadily as the debt money bubbles grow?  This would only be logical, since Gold is hard money and cannot be printed.. cannot, outside of some new physics being discovered, be subject to a supply bubble.  Were Gold in a free market... a free form of money floating above all the fiat... the price would be higher than it is today.

 

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Dave - thanks!

Dave has taken a bit of a beating lately so I just wanted to say thanks to him for providing his frequent, educated, and FREE insights.  I read them regularly and appreciate them even if it is not what I want to hear.

That said, I'm appreciative too for the contrasting viewpoints brought to the table by Jim et al.  I love being able to come to one site and see both sides of an argument presented in a coherent manner.

 

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money is a shared agreement

JimH-

If Gold is the premier form of money, and I do believe Greenspan when he suggests this is so.. then why should it's buying power not rise more steadily as the debt money bubbles grow?  This would only be logical, since Gold is hard money and cannot be printed.. cannot, outside of some new physics being discovered, be subject to a supply bubble.  Were Gold in a free market... a free form of money floating above all the fiat... the price would be higher than it is today.

Your theory about the value of gold is quite sound and everything follows quite properly - but only if everyone in society agreed with the words in bold.

They don't.  Money isn't "what Jim says it is", nor is it "what Greenspan says it is."  Money is what the culture as a whole agrees it is.  Money is a shared cultural phenomenon, not a physical relationship asserted by Jim and imposed on society.  Given that, asserting that your price for gold is the "correct" one is an exercise in sheer ego.  It says "Jim knows better than society what the price of this thing should be."

Gold cannot be the premier form of money unless everyone agrees that it is.  Some do, certainly, but a huge number do not.

Especially here in the west, the vast bulk of the population does not see gold as money.  This results in the disconnect you refer to.  You are entirely correct, if the relationship between gold and currency had remained constant (i.e. "the gold standard") gold would be maybe $10k right now.  Maybe more, depending on what the peg was.

The mere fact that gold is wasting away at $1165.30 is clear and convincing evidence to me me that the vast majority of people here in the west don't agree with your assessment of gold being the premier form of money.  And without their enthusiastic support of gold's "money-ness" from western culture, gold stays at $1165.

As armchair futurists, we can project that gold might reachieve money-ness after a big problem with inflation, or default, or some other reset situation, and that the culture might well rediscover gold's money-virtues after some large issue appears.  We may well be correct in our projections.  However, until the culture comes to see things our way, the "current correct price" for gold is the aggregate value assigned by the culture as a whole, not what our ego says that it should be.  And since our culture doesn't see gold as the premier form of money...that price is $1165.

Which brings me back to those five pillars of Jim Sinclair v2006.

 

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Printing supply, printing demand

I would appreciate a low-level explanation of the way that supply and demand functions set the equilibrium price of gold on the COMEX.

I can understand price discovery process when there is a physical item in supply:  say apples,  and when there is a physical demand:  human beings who want apples.

What I am not able to understand is how the equilibrium price is reached when a large financial institution, is able to print a simulated "supply of apples" (called short contracts) or demand, a simulated group of human beings wanting to buy apples (called long contracts).  And all of this funded by near limitless zero-interest loans.

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gold derivatives

MarkBC-

I understand that you have a particular model in your mind about how things work.  Let me ask you this.

If a whole bunch of people in society had the view that gold at $1165 was really cheap, what do you think would happen to the supply of physical gold?  And I'm not just talking about coins - I'm talking about those big bars at the LBMA.  (Form does matter - supply of coins is limited, and rate of manufacture is limited as well; most supply is in the big bars, not coins.)  The supply would all be bought up.

That's the logic problem with the whole "its just paper" argument.  Using the COMEX price, you can buy physical gold around the world.  There are people in the world who are willing to sell it to you.  As long as physical gold supply exists at the COMEX price, that means the COMEX (derivative-based "paper") price is legitimate, regardless of how many ounces are delivered at COMEX.

If there was aggregate demand for physical gold that exceeded the supply at $1165, the available physical gold would all be bought from people willing to sell at the COMEX price, and then premiums would rise until demand and supply equalized.  That happened after the 2013 gold crash and it persisted for several months.

So to me, the "gold standard" for measuring the legitimacy of the COMEX price is premiums.  If you can get physical gold for the COMEX price, even if it isn't at COMEX, the COMEX price is a valid one.  If you can't, then its not.

Its pretty simple.  Supply & demand are visible in premiums.

 

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cycles in credit

JimH-

One more thing.  You failed to see the cycles in total credit (TCMDO) simply because you used the wrong tool to view them.  The credit cycles aren't visible on your absolute value chart, they must be viewed as a percent change year over year.

The same rules apply for GDP, CPI - pretty much anything that is "business cycle" related.  All the business cycles show up on the % change y/y charts, but are completely hidden by the absolute value charts.

Can you see the cycles now?

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Let it never be said...

That Dave is not a truly brilliant defender of the status quo... of the idea that the market price for Gold reflects some kind of defensible reality.  He is one smart dude.  Indeed, most Westerners don't think of Gold as money.. they don't even think of it at all for the most part.  When they do think of it, it's only to recognize the mainstream media meme of how dangerous it is as an investment so that they can say to their friend Jim H when they see him, "Gee, how's with that Gold?".  Yuk, Yuk. 

But, as we know, and as has been described on these pages by Alasdair Macleod, we in the West are actually in the minority when we view the world as a whole.  Let's just go to Alasdair's words,

http://www.peakprosperity.com/blog/88268/why-gold-undervalued

 

Asian Demand

Physical gold features in the family pension fund for the average Asian. We are all familiar with this being the case for Indians, but it is also true for most other countries on the continent. The reason is simple: no Asian government has been able to suppress the ordinary citizen’s interest in gold as a store of wealth, and generally currency issuance has been badly abused by Asian governments. For example, in Turkey accumulating inflation from the 1980s led to six noughts being lopped of the lira in 2004. In India, since the 1960s the rupee price of gold has gone from INR160 to about INR76,000 per ounce today.

The history of Asian demand goes back to the oil crisis in the 1970s, when the Middle East suddenly became immensely wealthy from the rise in the price of oil. Naturally, they invested a portion of their new-found wealth in gold. The pace of gold acquisition by Arabs slowed in the early 1990s, because a new western-educated Arab generation began to manage the region’s financial resources, and these youngsters were doubtless discouraged by gold’s prolonged bear market. Instead they turned to equity markets and infrastructure investment. Then in 1990 India repealed the Gold Control Act.

Indeed... Jim H does not have a say in what money is.  As with you Dave, I am a student of what larger groups within society do deem as money.. which is why I remain interested in Bitcoin.  If you want a Bitcoin today, even with all the scandals, and the quieting down of the media coverage.. a single Bitcoin will still cost you $405!  Somebody is still saying this is money!

Back to Gold... The Asians say Gold is money, and they outnumber us in the West.  The way this thing works is simple... the good money, Gold, flows from West to East.  

And I love this paragraph from the Part II of this same Alasdair Macleod piece,

In setting market and economic policies China had three advantages: she was not hampered by a western-style welfare state, nor was her intelligentsia students of western neo-classical economics, and she started with a clean sheet of paper. The result was China’s government respected markets more than governments in the advanced western economies, and her view on gold as a superior form of money has not been corrupted by neo-Keynesian and monetarist prejudices. It is reasonable to suppose that senior bankers at the PBOC looked at their western counterparts with some bemusement as they ditched their gold, giving China a tremendous opportunity to secure her financial independence.

http://www.peakprosperity.com/insider/88269/case-owning-physical-gold-now  (subscribers only)

Boy does that say a lot.  It's really amazing, when you step back, how complicated these Gold arguments can get, based on the minutiae of how all the markets and derivatives work.. but in the end, we are really looking at forms of money that can be infinitely printed (or digitally created) and have no intrinsic value, vs. other forms of money (Gold, Silver, Bitcoin) that have scarcity integrity that cannot be tampered with by man.

In the end, I believe one can trade effectively with full awareness and appreciation of the manipulation.  For now, I continue to buy all the physical I can, while holding back on the leveraged and paper trade (miners, good paper metal like PHYS) until there are more signs of breakdown.  Things I am watching;

-  GOFO still being published and at lowest since 2001

-  China Gold flows increasing

-  Mining stocks percolating with violent volatility

-  artificial Gold:Yen correlation breaking down

-  GLD continuing to get drained almost daily

-  manipulation denial community upping their voice level, as above with Dave & Dan (Norcini), and here below with Bron - contrarian indicators;

http://goldchat.blogspot.com/2014/11/if-gold-in-forest-is-withdrawn-by.html      

 

 

 

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The public is always right!
davefairtex wrote:

Your theory about the value of gold is quite sound and everything follows quite properly - but only if everyone in society agreed with the words in bold.

Along with the idea that markets are always right, we need to interject the idea that the public is always right.

If the public thinks pieces of paper are the best and most legitimate form of money, who am I to argue?

And, based on this video, the future is bright.  Very bright indeed!

/Just interjecting the kind of humor where the alternative is to cry/

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Cycles

Dave, the interesting thing is this;  The cycles would actually be visible in my version of the chart were debt growth to dip below zero (actually net contract) more often.  But, debt is always and forever advancing in sum, (almost) never contracting - sure, the rate of advance does vary.  That is the takeaway.         

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If it were important, then I would know about it..

...because I am a smart and well informed person.

I was at a University department reception mingling with the professors and graduate student and decided to conduct an informal poll.  

Me:  "I am conducting an informal poll.  May I ask you an off-the-wall question?  How many skyscrapers  in the World Trade Complex collapsed on 9/11?"  

Professor:  (blank stare.  Then something like)  "Ah.....  Well.  I'd have to go with 2."  (Then a questioning look.)

Me:  "Actually there were 3.  Most people don't know about the third and it may be important."

 

 

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Dave, Jim beat me to what I

Dave, Jim beat me to what I was going to say but here is my response. Yes I agree that N Americans don't view gold as money and it's doubtful their demand would even support current prices. However, westerners are only about 1/5 of the world and "what they think" is becoming increasingly irrelevant. It's Asians that matter now and based on the numbers I have seen, about 3000 tons per year gets net imported into Chindia. This results in a 2000 tpy global deficit which must be coming from central banks. Clearly Asians view gold as money. 

Furthermore, the us does not exist in a vacuum. I'd argue that the only reason Americans view paper as money is because of their 40 year trade deficit using the dollar as the reserve currency. This has totally shaped western perceptions about finance and economics. If the us didn't have the reserve currency, I'd argue that dollar inflation would have been much higher and today Americans would have a much different appreciation for golds true value. 

Also, as to your point about premiums, I don't understand why there would necessarily need to be any when the western central banks are supplying all the physical that us needed. Now, why they are selling out their countries like this us a matter of speculation but it seems that this is what they at doing. 

 

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When you see it as pictured

and you did not know about a certain infamous event. You would think that the building shown here had been blown to smithereens military style! That is what I am seeing!

Just shows how powerful the official narrative has been...because that is a building collapse caused by burning jet fuel..... and too much koolaid!

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I know the Truth because I've taken the red pill.

"I know the truth because I've taken the red pill," is similar in some ways to saying "I know the truth because I read it in the New York Times."

"The mystery is how [a theory] that is vulnerable to such obvious counterexamples survived for so long.  I can explain it only by a weakness in the scholarly mind that I have often observed in myself.  I call it theory-induced blindness: once you have accepted a theory and used it as a tool in your thinking, it is extraordinarily difficult to notice its flaws.  If you come up with an observation that does not seem to fit the model, you assume there must be a perfectly good explanation that you are somehow missing.  You give the theory the benefit of the doubt, trusting the community of experts who have accepted it."

- Daniel Kahneman  Thinking Fast and Slow 276-277

 

"As for Adler, I was much impressed by a personal experience.  Once, in 1919, I reported to him a case which to me did not seem particularly Adlerian, but which he found no difficulty in analysing in terms of his theory of inferiority feelings, although he had not even seen the child.  Slightly shocked, I asked him how he could be so sure.  'Because of my thousandfold experience,' he replied; whereupon I could not help saying, 'and with this new case, I suppose, your experience has become thousand-and-one-fold.'"

-Karl Popper  Conjectures and Refutations  46

 

Edit: The red pill reference is in response to the original discussion of markets, manipulation, and the comments on public opinion.  I had not seen Sandpuppy or Bankers Slave's comments when I wrote this.  :)

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Sand puppy, look at pictures

Sand puppy, look at pictures of how building 6 fared, situated right beside on of the towers. Did not collapse...

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Moar Red Pill
HughK wrote:

"I know the truth because I've taken the red pill," is similar in some ways to saying "I know the truth because I read it in the New York Times."

Perhaps you should consider taking more.  I'd personally recommend a whole bottle.

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public is always right!

Chris-

Along with the idea that markets are always right, we need to interject the idea that the public is always right.

Well now...I don't recall interjecting ideas about the public's infallibility.  Likely, that's because I didn't.  :-)  So let me reiterate what I did say just in case there is any misunderstanding.

The public sets the price of gold based on their attitudes towards gold-as-money.  Right now, the belief is weak-to-nonexistent in the West, thus the price of gold has fallen.

One framework for understanding this are Jim (v2006) Sinclair's Five Pillars.  Four of them aren't there right now.  This measures the public's lack of interest in gold - the level to which they do not share JimH's (and largely, the PP) belief that gold is the best money ever.

In this matter, the public could well be wrong, stupid, and unwise.  They often are - and at exactly the wrong times, too.  But my point is only that the only requirement for a price drop in gold is for the public to not care about it, and Five Gold Pillars says that's what is going on.  There is no need for any other nefarious central bank actor to appear on the scene for the gold price to drop.

Indeed, there are a whole host of other commodities they don't care so much about right now whose prices have also dropped right along with gold.

Regarding China & India - unfortunately for gold, the west still outperforms the east in terms of purchasing power, so the west's lack of concern happens to be decisive at this moment.  I could dig out a chart showing this, but its time for lunch.  Trader Dan points this out as well.

MarkBC believes that the western central banks are selling all their physical gold to keep the physical demand satisfied.  I think his view has logical consistency to it (in that the story does hold together) but I just don't agree that's what is happening.  If I believed that, then I'd believe all the same things he does, but I just don't.  This one is tougher to argue, since there is no hard evidence that I've seen either way.

Rickards suggests a whole bunch of it has been leased (to suppress the price), but the physical gold still remains within the vaults, and the Central Banks will "force majeure" all those leases into thin air immediately prior to any "reset".  This makes the most sense to me, as it preserves their strategic options for a SHTF sort of confidence failure event.

 

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Revolutions.

Fight Club!

I loved the video that CM posted. The kids were so cute.

Is it just me or are University students getting younger? If our perception of what is Value is different from theirs, who's Values will prevail? Theirs, because they will outlast us. This is the Revolution that is taking place. If they think that the relationships of some "famous for being famous" starlet is a Thing of Value- then it is a thing of value.

We will not have a chance to vote- we will be dead. It is their world now.

For what it is worth, I have silver because of it's other pillar. That of a useful industrial material. Until Mitsubishi comes along with their transmutation techniques and then we will just be able to print the stuff. They report that they use calcium as their base material.

Revolutions happen. This is as profound as the Enlightenment but it is harder to see because we are in the thick of it all. The fog of war and all that stuff.

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About that gold....
davefairtex wrote:

Well now...I don't recall interjecting ideas about the public's infallibility.  Likely, that's because I didn't.  :-)  So let me reiterate what I did say just in case there is any misunderstanding.

I know ya didn't, I just wanted an excuse to slip that sorry video in, and make a point about 'the public.'

MarkBC believes that the western central banks are selling all their physical gold to keep the physical demand satisfied.  I think his view has logical consistency to it (in that the story does hold together) but I just don't agree that's what is happening.  If I believed that, then I'd believe all the same things he does, but I just don't.  This one is tougher to argue, since there is no hard evidence that I've seen either way.

Well, here I will take exception with a view you're holding, because of the numbers involved.

China alone is consuming a very large proportion of overall mine output.  It has been well established that the SGE withdrawals are the best measure of China's gold demand and that has run at more than 1650 tonnes YTD through Nov 1, 2014.  For some still mysterious reason the WGC reports China's gold consumption at a fraction (~1/2) of this amount.  It makes no sense, because we'd have to wonder where the gold came from to be withdrawn, as the WGC figures have no explanation beyond "magic."

Then there's India...between China and India we can account for more than 100% of all yearly mine output.

Any further demand such as from central banks (Russia for example), investors in the west, other Asian countries, and the middle east...has to come from somewhere.

Very conservatively, there's a shortfall of a bit over 1,000 tonnes to account for in this story and that's a hugely significant amount.  It's not coming from GLD in 2014 as that's been reasonably stable since the 2013 exsanguination.

Who has that much gold?

To me the central banks are the only repositories capable of filling that gap.  

It's when we see the comical and obvious panic that the Swiss central bank has on display over the looming referendum to repatriate SWI gold that we get a sense of what's happening here.

There's central banker panic in the air and we have to wonder why...?  The most compelling explanation I have is that the SWI central bankers know perfectly well that their gold has been otherwise promised elsewhere in the system and they don't want to be the ones responsible for creating a lot of pain in the system that repatriation might cause.

This fits with Germany's extreme foot dragging in repatriating their own measly 300 tonnes form the US (only 5 tonnes so far, and program is on hold is my understanding...the Fed has allegedly told them they'll get the rest in 2020...but I cannot confirm this rumor).

Given the laughably inane 'answers' given for why German gold has not been repatriated on schedule and for why the SWI central bank prefers to keep a good chunk of its gold in Ottowa (because "it's a major gold center offering flexibility of rapid execution"...really?  Ottawa as compared to Switzerland...major?  WTF?) we cannot reasonably accept these excuses as legitimate.

So there's something else going on.

I don't know what yet, but the simplest answer I've got is that it's incredibly difficult for central banks to true up their gold holdings in any physical sense and asking them to do so causes them to spout off ridiculous reasons why that's not in the public's best interest.

But if you can find me a source for a minimum of 1,000 tonnes per year of gold that does not come from central banks in the west, then I'd be super interested in knowing what that (those) might be. 

 

 

 

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ISIS mints gold coins; not good for PM holders

The fact that ISIS now seems to be minting gold coins is not good for PM holders.  At some point, this seems somewhat likely to be used to rationalize gold confiscation at airports, etc.  Hopefully I am wrong about that.

ISIS introduces new currency

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Market interpretation

The Casey report is an excellent, succinct piece. Thanks for the link. I haven't tried to corroborate its numbers, but assuming they're correct then it would shine an even brighter light on big banks' manipulative activities.

 

Dave said "The mere fact that gold is wasting away at $1165.30 is clear and convincing evidence to me that the vast majority of people here in the west don't agree with your assessment of gold being the premier form of money".

 

Quoting a futures price from a marketplace in which the big hitters are so overwhelmingly in control (by volume) seems a tenuous argument at best. Mate, you can present all the fancypants trend analysis, triple-low calls, candlestick charts you like all day long, but hanging such a large interpretative hat ("convincing evidence") on an unpoliced, big-player market seems as reliable as an umbrella in a cyclone.

 

Do people in the West view gold as the premier form of money? Who knows? They don't influence the paper market (and therefore the price), so on what other basis can their intent be reliably gauged? Given the continuing transfer of wealth from West to East I cannot see the clamour for physical by the general populace in the East as anything other than a predictive flag for gold's future (real) value... something which the current futures price seems intent on ignoring at all costs. And that's the suspicious disjoint, right there. I'm guessing that it's the West that's behind the eight-ball, not the East.

 

The great thing about broken markets (and so many seem to be in that basket) is that they allow the luxury of ignoring the nonsense messages which they convey, and redirect us to the simple basics instead. Easy. We humans have been so busy patting ourselves on the back for creating a marvellously complex & interwoven life system that we've ignored the fact that we're too stupid to know how to effectively manage it. That complexity allows for obfuscation, but simplicity clarifies. 

 

I'm an analyst and I know how data can be presented in a form which is set too deliberately complex to fully understand. I no longer trust any paper market charts or price indices, and therefore I find them largely a waste of time. But I intuitively know - like most moderately intelligent people - that there are far too many disconnects out there to trust that manipulation isn't happening on a large scale. People may not understand complexity but intuitively we're wired to know when something smells.

 

Currently it reeks.

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Chris...

Is there an option for subscribers to buy extra thumbs up ratings?  Thank you!  The Gold is coming from somewhere.. and holdings that are not supposed to be fractionally reserved, i.e. unallocated.. are becoming so in the process I suspect.  Only so many chairs and all that.     

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Thinking ahead

Thinking ahead to the day we discover that our leaders have squandered our (US) gold, I want to know what crimes we will charge them with.  When TSHTF I'm thinking of going down to the airport with a sheaf of photographs of oligarchs where I intend to arrest every one I see trying to weasel out at the last minute. I'm starting with Greenspan's picture and I will arrest him for his actions at the Fed, not his essays before or his two-faced speeches afterwards.

"Welcome to the Hunger Games. And may the odds be ever in your favor."

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proving negatives; central banks and gold

Chris-

So for me, its a really tough thing to prove a negative.  There's no way I can prove central banks aren't continuing to sell gold on the sly to suppress physical demand.  I can provide some numbers as to where 1k ton of gold might come from.

WGC says [as of 2014]:

  • 32k tonnes national holdings
  • 177k tonnes total above-ground stocks

USGS says [as of 2011]:

  • Jewelry 49%
  • Investment (bars & coins) 19.26%
  • Central Banks 17.2%
  • Industrial 12.14%
  • Unaccounted 2.2%

My sense is, finding 1k tonnes "in the seat cushions" (its less than 1% of the total above ground supply) is a doable thing for a year.  Not for 10 years, mind you, but only one year isn't conclusive to me.

The most intriguing part of the case is that of Germany's gold repatriation, as well as Switzerland.  There is most definitely something funny happening there.  The excuses just don't make any sense at all.  However, that doesn't mean the gold is actually gone.  Perhaps the gold has been leased out already (a la Rickards) but the terms of the gold lease specify that the gold must continue to reside in FRBNY.

And let's even assume that the Swiss and German gold IS gone, it has already been sold.  That still doesn't imply that central banks continue to sell gold to suppress the gold price.  Why would they need to?  All the other commodities are dropping in price - they have been since 2011 - and as we know, gold tracks commodity prices.  We know that from the Jim (2006) Sinclair's Five Golden Pillars.

I will definitely agree there is something funny going on with gold and the central banks.  My sense is, it is some sort of leasing shenanigan.  However, even if central banks have sold physical gold on the sly in the past, it still does not necessarily follow that they are selling physical gold today, and furthermore that the alleged current selling of central bank physical gold is largely or primarily responsible for the drop in price from 2011-present.

The last thing I'll point out is that Central Banks probably benefit from the story that "Central Bankers control the price of gold."  Why buy gold if the central bankers are going to smash the price every time it rises?   I can't imagine any investment less appealing than one where a collection of central banks are focused on smashing the price and making sure your investment doesn't work out.

I prefer to focus on premiums and supply & demand, knowing that if the Central Bankers are supplying physical gold to keep the premiums down, as soon as they stop, premiums will move higher...and if they aren't supplying physical gold, as soon as the physical supply runs low, premiums will move higher...

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fancypants trend analysis

locksmithuk-

Quoting a futures price from a marketplace in which the big hitters are so overwhelmingly in control (by volume) seems a tenuous argument at best. Mate, you can present all the fancypants trend analysis, triple-low calls, candlestick charts you like all day long, but hanging such a large interpretative hat ("convincing evidence") on an unpoliced, big-player market seems as reliable as an umbrella in a cyclone.

Pal, if you can go to a coin shop and get a big fat COMEX bar for the COMEX price, its a legitimate price.  Someone real is willing to sell you real physical gold for that price.  Q.E.D.

As soon as you can't get a real physical gold bar for the COMEX price, its no longer a legitimate price.

http://www.golddealer.com/product/1000-oz-comex-silver-bar/

End of story.

 

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Can somebody remind me what

Can somebody remind me what happened to all the gold at e-gold? Under what pretext?

 

When everything falls apart, it seems clear that the offense won't be oligarchs wasting the country's gold; it will be the individuals who have it, and therefore must have stole it. Aside from confiscating your gold, that picture at the airport may be yours.

Not that of a patriot like Yellen, Greenspan, the president of Goldman-sachs,  or the Pentagon generals, etc.

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to Jim H: "Gold cannot be subject to a supply bubble."
Jim H wrote:

..., since Gold is hard money and cannot be printed.. cannot, outside of some new physics being discovered, be subject to a supply bubble. ...

Dear Jim H,

Kwasi  Kwarteng (2014) writes about the stream of robbed precious metals from Latin America to Spain in the 16th century:

From 1503 to 1660 estimated 16,000 metric tonnes of silver arrived and tripled the existing silver resources in Europe. Whereas 185 metric tonnes of gold increased Europe’s supply by only a fifth (page 18).

“Silver was the key element of the imaginary wealth of Spain.  … because its effects on the Spanish monarchy were unexpected and would lead, in the long run, to bankruptcy and a diminution in the power of Spain in world affairs.” (page 18)

“The biggest economic effect … was the inflation … as a result  of the greater supply …”  (page 20)

 

Kwasi Kwarteng:

War and Gold: A Five-Hundred-Year History of Empires, Adventures, and Debt

Hardcover: 440 pages

Publisher: PublicAffairs; First Edition edition (May 27, 2014)

ISBN-10: 158648768X

ISBN-13: 978-1586487683

I cite this author as evidence that a stable and sound currency / that good money and a prospering economy are not guaranteed by the material properties of a specific non-arbitrarily multipliable material / matter.

For the rest, Kwarteng’s book was rather disappointing for me.

Best regards

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"Money is a shared cultural phenomenon"
davefairtex wrote:

...  Money is what the culture as a whole agrees it is.  Money is a shared cultural phenomenon, not a physical relationship asserted by Jim and imposed on society.  ...

Gold cannot be the premier form of money unless everyone agrees that it is.  ...

Especially here in the west, the vast bulk of the population does not see gold as money. 

Dear davefairtex,

for me, your position is easy to understand because it exactly corresponds to my view as I wrote in one of former my posts:

http://www.peakprosperity.com/comment/171228#comment-171228

Gold is really non-essential. It has almost no practical value / no value in use in everyday life. Its worth and acceptance rely on  social conventions no less than any other kind of money made off any other physical stuff.

I don’t dispute the chemical advantages of gold but its physical and chemical qualities do not determine the social function

Thanks to its very favorable chemical properties gold as stuff cannot go poof. But its social function could vanish.

Best regards

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Government Intervention on Gold

Dear davefairtex,

Dear Jim H

Dear all,

 

I read the German original (“Geheime Goldpolitik. Warum und wie Zentralbanken den Goldpreis steuern“. My translation:  Secret Gold Policy. Why and How the Central Banks Steer the Price of Gold). I can’t assess / evaluate the English translation but Speck’s evidence-based research is very painstaking and gives a sober and very good overview.

Dimitri Speck:

The Gold Cartel: Government Intervention on Gold, the Mega Bubble in Paper, and What This Means for Your Future

Hardcover: 328 pages

Publisher: Palgrave Macmillan (October 24, 2013)

ISBN-10: 1137286423

ISBN-13: 978-1137286420

Best regards

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why important?

sand puppy, why do you say the third may be important? Is there anything that will change, 'if people only knew'? Will traitors suddenly cease being honored as patriots, or will the mean man (quoting Bible here) who is called 'liberal (freely giving)' suddenly be named truly?

One of the tenets of conspiracy is that the real conspiracy predates any attempts at conspiracy, thus making the attempted conspiracy nothing more than an exercise in secrecy for imagined honors.

Whoever pulled off 9-11-01, for whatever reason they had, already had the power to do that and more. Moreover, because our government's constitution and the rule of law long ago wasted away and is in fact gone, whoever did it had the ability to act with complete impunity.

and the same can be said to the actions by the Fed, and the IRS, and the FBI, and the NSA, and the state employee unions, and the group that carried out benghazi, and the group that carried out the Odessa massacre, and those who launched ISIS, and so on.

so again: How is building no. 3, or WTC 7, important?

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I cannot speak on behalf of anyone,

but I would like to respond to your question.

Building 7 is the "smoking gun" visible for all to see, but shunned by the pushers of the official fact less, proof less, evidence less explanation. You can obfuscate your explanation of the collapse of towers 1 and 2 to those who will not self investigate (the majority), but you cannot do this with building 7 as they already have tried to do.

Once I got it, I was filled with anger and indignant outrage at this colossal lie. How evil could they be...as evil as you never thought possible. I include the perpetrated wars and the faux war on terror attributed to the event.

These monsters have sunk into the moral abyss. By failing to highlight this crime of our time, we stand to be every bit as morally repugnant, and we shall reap what we sow by our very silence. If ever there was an event capable of uniting humanity against the evil that pervades this planet, then 9/11 is it. If not now then when? 

 

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Right on, Slave. 9/11 reveals

Right on, Slave. 9/11 reveals a lot about our society and rulers. I've approached a few friends about it and the level of denial speaks to how fervently people will stick to a world view that makes them feel comfortable. It provides as much insight into the workings of the human mind as it reveals about who is in charge of our society and what they are willing to do to maintain that power. The fact that they got away with this reveals just how much total control they have over "our" countries; any illusion of democracy is just that. We do have democracy at the local municipal level to some degree but beyond that our countries are basically dictatorships.

I probed my friend about 9/11 because I was curious what his mind state was, "What would be your response if there was irrefutable proof that 9/11 was done by the government", would it be like, "oh, wow, that sucks, but life goes on", or would it totally change his world view and require him to re-analyze things. Well I had to clarify about 6 times because each time I asked, he responded with, "well it wasn't an inside job so the question is moot". That's an indication of the level of denial going on, when people won't even entertain a hypothetical about it. He said that it would cause a lot of turmoil in his mind. I wasn't intending to enter a debate with him but then he asked what kind of evidence there was that is "undeniable". Well, there's lots to choose from, but I asked him to find a single picture of the plane crash at the Pentagon. Of course, no amount of internet searching will find one... He was a bit surprised I guess but I doubt that caused him to go further with it. "There must be some other reason why there aren't any pictures of it" must have been his thought process.

At the same time the 9/11 doubters are a quite significant proportion of society, especially in other countries, so that provides a glimmer of hope that when the financial system collapses people will be jolted into waking up and maybe support some kind of revolution.

I have to admit that all the stuff we discuss on this site and others like it can become all-encompassing. It's fascinating, to figure out what is actually happening at the top, and trying to put all the pieces together about how the world works. At the same time it's very sobering because then you look to the media and everyone else and how totally clueless they are, and deliberately so. We have the internet now which makes all this inquisition possible. Without it we would be hamstrung. And again, at the same time, the internet provides a comfortable distraction from reality for the other 99% who don't want to know what's really going on...

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The power of a story

The 9/11 attacks are the foundation of a great myth, of Global Threat of Terrorism.

Myths are stories we collectively believe, that motivate us and give us meaning, and let us know who we are and what we must do. 

This 9/11 myth, because it is widely believed, is the foundation of some of the most horrible and immoral actions we see in the world today. 

Just one example:  The war in Iraq.

US soldiers, serving in Iraq in 2005 were interviewed by Bill Moyers and asked why they fought.  Two main reasons:
1.  To avenge 9/11.  The soldiers widely understood that Saddam Hussein was behind the attacks.
2.  To protect America from weapons of mass destruction.

The hand drawn symbol on many soldier's helmets.

Here we had two myths that served to motivate hundreds of thousands to shoot, bomb, imprison and torture.

It is most remarkable when we remember that most US troops came from Christian backgrounds and attended church and Sunday school (like me).   The foundational teachings include loving ones enemies, being slow to anger, praying for those who persecute you, seeing “others” as human beings (the Good Samaritan) and treating others as we would want to be treated (the Golden Rule).

Would the interrogators at Guantanamo Bay, be willing to force water into the airways of young Muslim men if they understood that the 9/11 attacks were an inside job?  Or drone pilots be willing to fire missiles into school buildings in Yemen to "protect America?"  I don’t believe so.

Such is the power of a story, widely believed.

Those who can make you believe absurdities can make you commit atrocities.
Voltaire

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Michael

  I really liked what everyone else said in response to your question.  I will say this, knowing about the third world trade center building collapsing, from all the others who have taught me via the internet, has changed me.  It is a process of being re-born in a way, the world is now new and not what I thought it was. This understanding is very hard, it runs in the face of the great myths of our time.  I believe is very worth the cost for every single individual who understands this. 

“Yesterday I was clever, so I wanted to change the world. Today I am wise, so I am changing myself.”
Rumi

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NY Attorney General avoids 9/11 evidence.

After 8 years of investigation into the collapse of the three office towers on 9/11, Architects and Engineers for 9/11 truth, decided they had overwhelming forensic evidence to prove that Word Trade Center buildings 1, 2 and 7 did not collapse as the result of office fires, as claimed by the official report published by the National Institute of Standards & Technology (NIST), but were brought down by explosives in a controlled demolition.

The architects and engineers, through their attorney, officially requested a confidential meeting with Cyrus Vance, district attorney for New York County, to present their evidence and discuss the appointment of a special prosecutor and the calling of a grand jury to open a new independent investigation.

DA Vance has effectively refused to meet with them or discuss the matter. Accordingly, on November 3rd 2014, the letter from the AE911 attorney to Vance and its supporting documentation was published on the AE911 website. http://www.ae911truth.org/en/news-section/41-articles/923-cyrus-vance-jr...

After reading this letter, reviewing the evidence and list of highly qualified witnesses, I am astounded that the New York DA can be so blatantly derelict in his duty.

However, taken in the context of the invasion of Iraq, the 'Patriot' Act, the obvious complicity of Congress in the crimes of 'too big to fail' Wall Street banksters who commit massive fraud and theft with impunity, the persecution of whistleblowers Manning, Snowden and Assange, this week's authorization by Congress (Intelligence Authorization Act for FY 2015) of the NSA to gather and keep all of our electronic communications, the revelations of brutal torture worthy of Stalin, Hitler or Pol Pot performed by Americans on 'suspected' terrorists, the self-endowed 'authority' of the President to detain indefinitely,  without a trial, American citizens on American soil for being merely 'suspected of terrorist activity' and the general gutting of the Constitution of the United States by its own government, it is perhaps only to be expected.

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Changing World Views

GREAT discussion, Guys.  Very informative.

Books matter, videos matter, discussions matter.  Why?  A good book CAN change one's worldview, just as a video may also do, and hopefully chats too.

I've had a few books that changed my worldview.

1. Zecharia Sitchin and The 12th Planet.  All about what the Sumerian clay tablets tell us about pre-history. His 14 books totally demolished my "Old/New Testament" world view. Became an Ex-Jesuit.

2. Amit Goswami and his Self Aware Universe.  All about quantum physics.  His 7 books completely upended my traditional scientific training (Ph.D. in Sociology), and integrated quantum with Eastern spirituality. Gives me spiritual resiliency against #3.

3. And NOW, G. Edward Griffin's The Creature from Jekyll Island.  His book has given me a TOTALLY new Financial worldview.  It is really more than bashing the Fed.  It is a Financial history of geopolitical events, including the role of gold throughout. I now read the newspapers and history texts quite differently. I also now see how much of what's discussed above by all of you fits into a COMPLETE and enlightening historical FRAMEWORK, WORLDVIEW, PERSPECTIVE.  At least, as of now, always open of course to further data/theory, or rebuttals.  The passage of the 1,600 page 1.1 TRILLION bill now makes total sense, especially the role of the politicians, the banks, the "power elite," as described by Rickards.

Technical analysis is thought provoking.  Watching for the bottom is exciting. Preserving wealth and making MORE money appeals.  Quite individualistic-oriented, no??

But the BIGGER picture and how it all fits together brings joy to the intellect, even though maybe sadness, rage, etc., because of what we learn about how folks are continuously fleeced of their hard-earned monies, especially through hidden inflation.

And WHAT can we do about it, even hopefully understanding it all?  If the BIG Boys want perpetual war for profits, for power, for control, it strikes me that we little guys are TOTALLY screwed no matter how much we discuss, speculate or desire to change the SYSTEM, created on Dec 23, 1913. So, carry on about the price/suppression of gold/silver till our hearts are satisfied.

For me now, it's the question of how to integrate these three worldview changes into my reprogramming (programmless programming).  Love the paradoxes.

Yes, the 911 video convinced me also.  Zen

 

 

KennethPollinger's picture
KennethPollinger
Status: Platinum Member (Offline)
Joined: Sep 22 2010
Posts: 656
Changing Worldviews: Embarrassing Omission

When The Crash Course came out a friend of mine came over and we watched it together--a long, long time ago.

 What a shock!  And what great info!  I was hooked.  BUT, more importantly, it was a WORLDVIEW

changer.  How could I forget that in my prior email.??  Not only The Course, with Chris and Adam, but now

WHOLE COMMUNITY of truth seekers, with the Four Es. (Experience, added on of late). 

Chris and Adam, I cannot thank you enough even though I frequently try.  Thanks for the platform upon

which we all can share/debate/discover/question/wonder and prepare.

P.S. And as part of the latter, maybe passport diversification:

NYTimes, Sunday: "Some of the Rich Collect Art.  Other collect Passports," by Robert Frank.

Care to join me in Costa Rica?  I leave Jan 9th.  Zen  www.AwarenessCenters.com

 

KennethPollinger's picture
KennethPollinger
Status: Platinum Member (Offline)
Joined: Sep 22 2010
Posts: 656
Reference to #40, no.3 Griffin confirmation, again

This is how it works for the "wall street money trust" or "power elites."

This secret agreement represents a corporate takeover of government. And nobody knows about it.
Inbox
 
David Segal <[email protected]>
12:08 PM (19 minutes ago)
 
to me 
 
Take Action!
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Dear Kenneth Pollinger,
 
The truth is out: the Trans-Pacific Partnership (TPP) trade agreement represents a Hollywood and Pharma wish-list that would make SOPA-like internet censorship the norm -- all over the world. It's political corruption at it's worst: Our government is doing the bidding of its elite benefactors, and defying the will of the people.
 
And the US government has kept negotiations over the TPP completely secret.  But WikiLeaks leaked some of the proposal. And it's terrible news for the public.
 
They’ve realized they can’t pass legislation like SOPA through the democratic process -- because the people don’t want it -- so they're using the secret treaty process to pass it by other means with corporate interests lining up to have their demands included before the public knows what hit them.
 
They thought they could keep it all secret until the very last minute, and then force Congress to approve the treaty with no debate, no public oversight, no amendments. But that plan failed. 
 
We know what they're trying to do. And we can stop them. WikiLeaks has taken the first step. A loud public outcry is the only thing that can throw a wrench in their plans to implement secret trade deals that only benefit corporate interests. But we need to act now -- before it's too late. 
 
PETITION TO CONGRESS: The Trans-Pacific Partnership is a treaty designed to serve the interests of massive corporations to the detriment of the world's citizens. It would impose extreme regulations and stifle innovation. I demand that my government oppose this agreement.  
 
Click here to sign -- it just takes a second.
 
Thanks,
The folks at Rootstrikers.org
 
P.S. If the other links aren't working for you, please go here to sign: http://vk.rootstrikers.org/petitions/10?n=2762589.qPBpAm

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