Interview with Ted Butler – Silver Could Explode
John, would you be so kind as to respect us with your INFORMED analysis
of the CIA and various CIA FRONT COMPANIES OPINIONS ON THE CURRENT
MARKET ‘CRISIS’???? – JMCSwan[/quote]
Yes, but not here in this thread, out of respect for staying on topic. Why don’t you start a new thread, and I’ll find it.
I have a weakness for David Ike, Alex Jones, Ed Griffin, and the many other journalists that do a great job presenting alternative views. I enjoyed some of your posts this morning.
[quote]Forgot to ask you about this. What of those who say that gold and
silver will perform differently this time around because silver is no
longer considered as money (as it was in the 30s) and gold is no longer
backing our currency? [/quote]
They have a valid point, I expect similarity but not exact duplication. I agree that markets never trace out the same as before, it is a law of ‘Alternation’. I expect commodities to fall with the stock markets, until there is a complete capitulation, and that includes silver, and has a large effect on gold. Fear will drive both bullions much higher eventually, after the forced selling is over. As Global equities continue to collapse it will draw out nearly all Institutional and Fund leveraged bullion position.
What is different this time include, for starters:
- the end of a much larger Grand Super Cycle, resulting a larger correction than 1930s (equities, houses, etc);
- demographic shift to retired population that is ill prepared (homes and stocks are being ravaged, savings are low);
- social programs that are under funded, and likely to not deliver much in health care or retirement benefits;
- massive credit bubble that is far beyond the overhang in the 1930’s;
- a fiat dollar that is losing the full faith and credit trust, no longer backed by gold;
- a strong industrial base and eager supply of trained workers, lost to Asia now;
- Government debt that has gone beyond the point of no return;
Odds are good that we can see silver below 7-8 dollar range, even 5-6 would not shock me. Just keep adding to your positions, but only with money you can afford to forget about.I f the deflationary shakout goes deep, it would be shame to sell bullion at a loss. Bullion should be a part of your strategy, after you have the basics looked after, not all of it. More important is to have a month or two of cash/equivalents on hand, staple food for many months, and essential survival gear in place.
[quote]It occurs to me that if it is true that Comex prices are a fraud, then
that means they don’t reflect real world prices. That, I submit, is a
weakness in your reliance on short term movements. You think we haven’t
seen the bottom, yet physical prices are rising. Any thoughts?[/quote]
My retired swiss banker has confirmed some of that with bullion and commodities. He figured about 100 paper oz for every physical one, but was not overly concerned, as it has to do with leverage. Comex is not a fraud, I think that is misunderstood.
I love bullion coins as much as any gold bug, but consider there are pros and cons to both certificate bullion and physical coins in hand. I like them both. Certificates can be sold with a couple mouse clicks, and put into other bullion, (platinum) oil/gas, commodities, or strong currencies. Once set up offshore, it is beyond Government confiscation, and is available wherever I go – it does not have to fit into a back pack. Most travellers have to declare monetary value on hand, including precious metals and gems. Gold sitting in your bank safety deposit box, is unlikely going to benefit you much. It is also smart to have some held by the Swiss, or in Singapore.
The supply issue seems to be more in America and UK from what I hear. Canada, NZ, Aus, Singapore, Switzerland, South Africa, etc. seem to be delivering bullion coins. My thought – JP Morgan and other bankers do not want a silent run on deposits going into bullion coins, so they are interferring with the supply to stop the bank run. That is spoken about. My theory is America needs the bullion for either the replacement currency, (Amero), or as a spoiler to prevent China, Gulf States, or other nation from introducing a gold backed currency and killing the USD reserve status. I predict Gold will win, and the Fed will be gone by 2018. Unfortunately it will be after a huge war.
John50 (Tue, 10/21/2008 – 00:34 #30)
Yes, but not here in this thread, out of respect for staying on topic.
That’s funny — implying that the issue isn’t part of this topic! As if the Central Intelligence Agency has no interest in the Gold or Silver Price!!
I enjoyed some of your posts this morning.
Unfortunatley for you — I DO KNOW WHAT REAL APPRECIATION SOUNDS AND LOOKS LIKE. You are welcome to go and spread your insinsere apprecation elsewhere and go and kiss someone else ass with fake lies.
Xflies (Mon, 10/20/2008 – 19:37)
I found this board so much more useful when it wasn’t being used as a hype machine for self-affirmation. I really like the informed debates/banter from people that are truly objective.
Agreed. What just BLOWS my mind is how many individuals appear to imagine that the financial markets are some kind of zone wherein the intelligence agencies don’t operate in.
As if the intelligence agencies have no interest whatsoever in the Gold Price, Silver Price, Stock Market issues, don’t montor the STOCK MARKET in REAL TIME, havent BEEN CAUGHT REPEATEDLY WITH THIER HANDS IN THE COOKIE JAR, manipulating stock prices, influencing leveraged buyouts, totally destroying other company stock prices… I could go on and on….
Are financial people afraid to acknowledge these realities; or are they really so ignorant as to imagine that the CIA only tracks Osama’s little boxcutter buddies, and couldn’t care less about making millions on for example placing PUT OPTIONS on American Airlines for the week prior to 9-11, knowing it was going to crash into the WTC?
How can ANY OF YOU IMAGINE YOU ARE HAVING A FULLY COMPREHENSIVE DISCUSSION ABOUT THE ISSUE, WHEN YOU EXCLUDE THE REALITY OF ONE OF THE MAJOR PLAYERS?
It’s like discussing Microsoft, and refusing to acknowledge or being afraid to mention what role Bill Gates plays?
And that my friends is the role the Intelligence Agencies, play in Market Related Issues, commodity issues, Gold and Silver Prices, etc., etc….
DENYING REALITY AIN’T HELPFUL IN MAKING ACCURATE ANALYSIS ABOUT CURRENT ECONOMIC ISSUES, IS IT?
And if that conclusion is correct; why do ‘we’ do it? Why do we deny involvement of one of THE MAJOR PLAYERS? How can we consider ourselves objective?
Mr. Bob Baer (one of the highest former CIA field officers, the movie SYRIANA based on his autobiography), recently had this to say about insider stock trading by fellow CIA officials on airline stock before 9-11:
Mr. Bob Baer: "I know the guy who went in to his broker in San Diego and said ‘Cash me out, it’s going down tomorrow’".
Interviewer: "That tells us something"
Mr. Baer: "His brother works in The White House".
Insider Trading: where you will find among others:
Briefing Paper, The Case for Bush Administration Foreknowledge of the Attacks of September 11th.
TIMELINE BEFORE AND AFTER THE SEPT 11 ATTACKS DEMONSTRATES THE COMPLICITY OF THE BUSH ADMINSTRATION AND CIA IN GETTING THE WAR THEY NEEDED TO CONTROL CENTRAL ASIAN OIL AND THE DRUG MONEY FROM CENTRAL ASIA.
Congress and the Administration Accomplices in ENRON Cover-Up!
– Catherine Austin Fitts Takes On DynCorp and Harvard’s "Pug" Winokur who, while Chairing Enron’s Finance Committee, Is Also a Board Member of DynCorp, The Company That Manages Records for the Department of Justice, the Pentagon and the SEC. – Harvard Connected to Insider Trading on Enron — Enron May Have Laundered $3 Trillion of Stolen Taxpayer Money While Congress Lets The Evidence and the Cash Slip Away.
Shocking New Evidence on Insider Trading Connected to 9/11, The CIA and the Markets, Deutschebank, AB Brown, United Air Lines, Insurance companies and the story of Kevin Ingram
Read Part I – 12-06-01
Read Part II – 12-11-01
Read Part III – 01-09-02
Evidence of criminal insider trading before WTC ATTACKS leads directly into the highest levels of the CIA.
Clarifications Regarding Ptech Software
PTECH, 9/11, and USA-SAUDI TERROR PART II – PROMIS Connections to Cheney Control of 9/11 Attacks Confirmed – by Michael Kane
– The FAA & Ptech – Debriefed by Secret Service – looking for a PROMIS – Muslim Brotherhood, Christian Cultists, and Nazis
PTECH, 9/11, and USA-SAUDI TERROR, Part I
PROMIS Connections to Cheney Control of 9/11 Attacks Confirmed. by Jamey Hecht, with research assistance by Michael Kane and editorial comment by Michael C. Ruppert.
Wall St. whistleblower Indira Singh tells an insider’s story of corruption in the very highest places. Software of incredible power has been funded by confirmed Saudi terrorists and installed on systems in the FAA — and NORAD, and the FBI, and the White House, and the Navy, and the House of Representatives, and on and on. Its roots are in PROMIS, and its applications range from 9/11 to TIA to a chilling new brand of warfare that may soon be used to cripple Iran.
PROMIS Software History by Mike Ruppert
It is my opinion — perhaps incorrect — that IT IS IMPOSSIBLE TO BEGIN TO REMOTELY OBJECTIVELY AND PROFESSIONALLY ADDRESS A PROBLEM; IF YOU ARE IN DENIAL ABOUT A SIGNIFICANT FACTOR RELATED TO THE ALLEGED PROBLEM. Either people are IGNORANT — not a crime — or they are COWARDS.
I wanted to pass on this article by Franklin Sanders from The Moneychanger. He discusses James Turk’s insistence of the long term manipulation of the price of gold and silver. I hope you enjoy it.
THE CONSPIRACY AGAINST GOLD: THE SMOKING GUN
For several years now a growing body of suspicious folks has been investigating rumors of a fix in the gold market. They have accused bullion banks – firms that facilitate the lending of gold and silver – of colluding with central banks and governments to jimmy the gold market.
But nobody could find the smoking gun.
Then last December James Turk, editor of the Freemarket Gold & Money Report (Box 5002, N. Conway, NH 03860, http://www.fgmr.com/) found the gun, and it was still smoking. This came in the form of proof that the US Treasury’s secretive Exchange Stabilization Fund (ESF) was intervening in the gold market.
The Roosevelt regime created the ESF as a presidential slush fund (without any congressional oversight or control) to monkey in the currency and gold markets to manipulate the value of the US dollar and gold – and silver.
So where was the surprise? A string of high level Treasury officials and Federal Reserve officials, including Treasury Secretary Larry Summers (through intermediaries) and Fed chairman Alan Greenspan, had been denying that the government and the ESF had been acting in the gold market recently. But James Turk established that the amount of gold in the US Reserve assets had been changing, and that the changes resulted from ESF games in the gold market since 1996.
But where’s the motive for the crime? Money. Bullion banks were lending gold – borrowed gold — at a 1.5% interest rate. The gold was coming from central banks eager to put a "non-performing asset" to work, at any price. Hedge funds and others were borrowing the gold, selling it into the market, and investing the funds in safe US Treasury bills, pocketing a neat 5% gain with no risk.
Except the risk that gold’s price would rise. If that happened, well-connected bullion banks and other "players" would have been forced to repay borrowed gold that didn’t exist, or be ruined.
In April James Turk turned up yet more smoking guns.
The Federal Reserve Open Market Committee tapes its minutes, transcribes them, and releases them five years later. However, they only release them after they have heavily edited anything they want to conceal from the public. Apparently James Turk found one place they missed. In a 1995 meeting the chief legal advisor to the Federal Reserve, Virgil Mattingly, opined that the ESP statute was so broad that "it has covered things like the gold swaps."
What gold swaps? James Turk asked himself. Obviously, the gold swaps which the ESF had already been making in the market.
The trail didn’t stop there. Then Jim put that bureaucratic slip-up together with the new audit of West Point gold storage taken when the US Mint got a new director. Bureaucrats tend to be very cautious about a change of management. They don’t want to get stuck with responsibility for something that doesn’t exist. The August 2000 Status Report on US Treasury Owned Gold stored at West Point is designated "Gold Bullion Reserve" (http://22.214.171.124/told/00-08.html). But in the September 2000 status report and later ones, without any explanation this same gold stored at the US mint in West Point is designated "Custodial Gold" (http://126.96.36.199/gold/00-09.html).
James Turk theorizes this happened because the US Treasury wanted to loan gold to bullion banks. To keep the banks from defaulting on their gold loans, they had to find gold somewhere. Treasury (and the bullion banks) also needed to keep the gold price low enough that the likelihood of the banks defaulting would be lessened. James suspects the US Treasury swapped this gold with the German Bundesbank – they couldn’t throw all their own gold onto the market because it was coin melt, 90% pure bars that would raise too many eyebrows. Nor could Treasury act itself without raising too much attention, so it had to use a cat’s paw: the ESF. Since the banks needed gold to deliver in Europe, the Treasury through the ESF just swapped the gold to the Germans. German gold in Bundesbank vaults becomes ESF gold for delivery in Europe, while US gold in West Point was titled over to the Bundesbank.
James Turk writes, "Case closed. They mystery of the abnormally low gold price is solved. The ESF did it."
What does this mean for us? That these criminal manipulations by rogue bureaucrats and criminal insiders from the bullion banks have created deep, deep imbalances in the gold market, suppressing the gold price far below its true market rate. One day they will lose control, as manipulators always do, and that day gold will blast them all aside.
For that ride we have to buy our tickets now.
— F. Sanders
One day they will lose control, as manipulators always do, and that day gold will blast them all aside.
Butler wrote about it constantly and he was looking only at the silver market. Another group, GATA, has been filing lawsuits against manipulation in the gold market.
They way I see it, the Beltway Gang was going to destroy the economy and the dollar anyway. They kept the masses ignorant and gave a gift to a small minority like me. I hope some day that people come to the realization that the State is their mortal enemy. Regretably, I can’t help them. And it wasn’t for lack of trying.
KKPSTEIN, Guess you didn’t read….
unless you disagree with that analysis, or just prefer to ignore it.
PS: About that picture drooling with ‘Please **** me’ desperation… If that ain’t your intention, may I suggest you change it, cause that’s one of the ways it comes across. If it is your intention; my response is as follows:
THANKS, BUT NO THANKS — I AM A PERSONALITY TYPE….
By the way I’ve already got a date, and she’s mighty mighty warm and cuddly, and …. i love her to bits….
Wow, interesting article. I have not yet read it.
Re: my photo. Your reaction was never my intention.