Silver Price: The Least You Should Worry About
http://news.silverseek.com/SilverSeek/1305652499.php
Jeff: You made some interesting comments to me about supply and premiums. Tell us what you’re hearing and seeing in the bullion market right now.
Andy: I feel as though I'm the boy who cries wolf or that I've been beating the same drum for too long. But in reality, it has been my feeling since late 2007 that ultimately this market will be defined less by the price going parabolic – which I think ultimately will happen – and more by a lack of supply. You see occasional reports that state it’s just a lack of refined silver or lack of silver in investable form. But as far as I'm concerned, there is a major supply deficit issue, and it’s getting worse.
Take the U.S. Mint, for example. Right now, as we talk, you can barely get silver Eagles. We’re seeing delivery delays of three to four weeks, and premium hikes of a dollar or more in the last three weeks. Most of the suppliers in the country are reluctant to take large orders on silver Eagles because they don’t know (a) when they’ll get them, and (b) what the premiums will be when they arrive.
I was talking to the head of Prudential Bache and asked him about silver Eagles. He said, "You know, as soon as the allocations come in, they’re sold out. We can't keep them in." This is coming from one of the largest distributors of U.S. Mint products in the country.
And this is all occurring in an environment that has only minimal participation by the masses. Few people in this country have ever even held a gold or silver coin. So, if it's this difficult to get bullion now, what's it going to be like when it becomes evident to the masses they need to buy? This is what keeps me up at night.
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Jeff: Hearing about all this new buying might make some think we’re near a top in the market. Could that be the case?
Andy: No, no [chuckles]. I think Richard Russell says it best: "Bull markets die of exhaustion and overparticipation." Well, we’re nowhere near that point when so few people in this country own gold and silver. Heck, I’m a bullion dealer, and most of my peers don’t own any gold and silver! Yes, you're seeing more commercials, but there are just as many commercials to buy gold as there are to sell it. I think that’s an indication this market is not exhausted.
Remember that in the year 2000 everyone and his brother had some NASDAQ shares. That’s an example of an exhausted or overparticipated market. We’re nowhere near that.
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Wednesday, May 18, 2011
The History Of The World's "Reserve" Currency: From Ancient Greece To Today
The History Of The World's "Reserve" Currency: From Ancient Greece To Today
http://www.zerohedge.com/article/history-worlds-reserve-currency-ancient-greece-today
Probably the most interesting part of the previously discussed 174-page World Bank report on the future of world currencies, is, ironically, the part that deals with the past. In its discussion of why "Historically, one national currency has played a global role—or at most, a few national currencies", the WB analyzes the history of the "reserve" or dominant currency from ancient times, through today. It is an engrossing narrative which ebbs and flows with the rise and flow of the dominant superpower (no surprise there). The bottom line of course is whether or not the US will retain its superpower status in an increasingly multipolar (and developing-led) world. And whether it will be replaced by China...or nobody. The implications for the next reserve currency of choice are substantial.
Historically, one national currency has played a global role—or at most, a few national currencies
Historical records indicate that the silver drachma, issued by ancient Athens in the fifth century B.C.E. was likely the first currency that circulated widely outside its issuing state’s borders, followed by the gold aureus and silver denarius coins issued by Rome, even though the Athenian and Roman currencies circulated simultaneously for some time (see figure B3.1.1). The dominance of the Roman-issued coins was brought to an end as the long cycle of inflation that characterized the economy of the Roman Empire from the first century C.E. through the early fourth century led to a continuous devaluation of the Roman-issued currency, causing it to become increasingly less accepted outside the Roman Empire. Ultimately, the aureus became valued according to its weight rather than its imputed “face value,” trading more as a commodity than a currency outside the Roman Empire and making way for the Byzantine Empire’s heavy gold solidus coin to become the dominant currency in international trade in the sixth century.
By the seventh century, ----
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http://www.zerohedge.com/article/history-worlds-reserve-currency-ancient-greece-today
Probably the most interesting part of the previously discussed 174-page World Bank report on the future of world currencies, is, ironically, the part that deals with the past. In its discussion of why "Historically, one national currency has played a global role—or at most, a few national currencies", the WB analyzes the history of the "reserve" or dominant currency from ancient times, through today. It is an engrossing narrative which ebbs and flows with the rise and flow of the dominant superpower (no surprise there). The bottom line of course is whether or not the US will retain its superpower status in an increasingly multipolar (and developing-led) world. And whether it will be replaced by China...or nobody. The implications for the next reserve currency of choice are substantial.
Historically, one national currency has played a global role—or at most, a few national currencies
Historical records indicate that the silver drachma, issued by ancient Athens in the fifth century B.C.E. was likely the first currency that circulated widely outside its issuing state’s borders, followed by the gold aureus and silver denarius coins issued by Rome, even though the Athenian and Roman currencies circulated simultaneously for some time (see figure B3.1.1). The dominance of the Roman-issued coins was brought to an end as the long cycle of inflation that characterized the economy of the Roman Empire from the first century C.E. through the early fourth century led to a continuous devaluation of the Roman-issued currency, causing it to become increasingly less accepted outside the Roman Empire. Ultimately, the aureus became valued according to its weight rather than its imputed “face value,” trading more as a commodity than a currency outside the Roman Empire and making way for the Byzantine Empire’s heavy gold solidus coin to become the dominant currency in international trade in the sixth century.
By the seventh century, ----
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Technological Unemployment - ZMF
Technological Unemployment means you will see higher company profits and more and more unemployment. This is a natural technological evolution and we should be happy that our labor is being replaced by robots. HOWEVER, they entire economy, financial, political, and labor system needs to be replaced with a new compatible version.
You may laugh when I site Star Trek, however this is just the economy that they have. Everyone is provided basic needs free of charge and no one has to work if they don't want to. In fact there is no need for money, because like I said, everyone has basic necessities. If you just want to sit on your ass you can.
What drives the race further of course is human hard work and aspiration towards a greater goal, such as flying on a starship.
We have not reached the complete mechanization of labor yet, but it is fast approaching and it will become increasingly clear when developed nations only have CEOs, and 95% of the population is unemployed. Part of it is because people are lazy, but part of it is the mechanization of labor. Think about that one for a while.
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Technological Unemployment - ZMF
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You may laugh when I site Star Trek, however this is just the economy that they have. Everyone is provided basic needs free of charge and no one has to work if they don't want to. In fact there is no need for money, because like I said, everyone has basic necessities. If you just want to sit on your ass you can.
What drives the race further of course is human hard work and aspiration towards a greater goal, such as flying on a starship.
We have not reached the complete mechanization of labor yet, but it is fast approaching and it will become increasingly clear when developed nations only have CEOs, and 95% of the population is unemployed. Part of it is because people are lazy, but part of it is the mechanization of labor. Think about that one for a while.
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Technological Unemployment - ZMF
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One World Government- Whether You Like It Or Not
One World Government- Whether You Like It Or Not
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Darpa - Time Travel Andrew D. Basiago part 1
Interesting. It seems clear from current mainstream quantum understanding that time travel is possible for information, not matter. So it does seem feasible that something like this is possible. As far as the teleportation part, not so sure. But hey, who knows. This is why top secret should be declassified.
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Darpa - Time Travel Andrew D. Basiago part 1
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Darpa - Time Travel Andrew D. Basiago part 1
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Tuesday, May 17, 2011
Whistling... (Birth Certificate Is A Forgery)
We all know the birth certificate is a fake. Here's more proof today posted on market-ticker.
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Whistling... (Birth Certificate Is A Forgery)
http://market-ticker.org/akcs-www?post=186343
This is not in the realm of probability stacking any more. The page portion here is curved as it is allegedly "scanned" from a book page. The curvature is consistent with both the margin lines and the printed word "Sex."
The typed word Male shows no curvature in the baseline of the text; this is physically impossible if the word "Male" was originally printed upon the same page that was scanned. Worse, the entire hospital name is straight while the text of the caption is properly curved at the margin - but not elsewhere.
Everyone has tried to explain away the various "coincidences." But for this to have happened "coincidentally" the typewriter would have had to curve the text it was typing.
Sorry, but no.
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Whistling... (Birth Certificate Is A Forgery)
http://market-ticker.org/akcs-www?post=186343
This is not in the realm of probability stacking any more. The page portion here is curved as it is allegedly "scanned" from a book page. The curvature is consistent with both the margin lines and the printed word "Sex."
The typed word Male shows no curvature in the baseline of the text; this is physically impossible if the word "Male" was originally printed upon the same page that was scanned. Worse, the entire hospital name is straight while the text of the caption is properly curved at the margin - but not elsewhere.
Everyone has tried to explain away the various "coincidences." But for this to have happened "coincidentally" the typewriter would have had to curve the text it was typing.
Sorry, but no.
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z
Why An Unwind Of QE2, With Nothing To Replace It, Could Lead To The Biggest Depression Yet
It's too late now the game is up. If they stop easing or printing or whatever you wanna call it, the markets tank and all liquidity in the system freezes up. The only alternative now is to print and keep blowing the biggest bubble in history higher. At some point things will give.
Hint: The bubble is the supply of US currency, not gold, silver or other commodities. These will all have to rise. Hold physical silver and protect yourself from the death of the dollar.
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Why An Unwind Of QE2, With Nothing To Replace It, Could Lead To The Biggest Depression Yet
http://www.zerohedge.com/article/richard-koo-explains-why-unwind-qe2-nothing-replace-it-could-lead-greatest-depression
Over the past several days, quite a few readers have been asking us why we are so confident that QE3 (in some format: it does not and likely will not be in the form of the Large Scale Asset Purchases that defined QE1 and 2 - the Fed could easily disclose that it will henceforth sell Treasury puts, a topic discussed previously, or engage any of the other proposals from Vince Reinhart disclosed in June of 2003) will eventually be implemented by the Fed. Luckily, instead of engaging in a lengthy explanation of the logical, Nomura's Richard Koo comes to our rescue with his latest research piece. While we disagree with Koo on various interpretations of his about monetary theory (namely that the Fed is not in effect "printing" money and thus creating inflation - this is semantics and leads to a paradoxical binary outcome, whereby if there Fed was successful in boosting the economy, the economy would indeed be flooded with the nearly $2 trillion in excess reserves held with reserve banks. And good luck trying to contain this surge by changing the IOER - if the Fed indeed pushed the IOER to the required 5%+ level it would immediately destroy money markets, leading to the same liquidity freeze that marked the post-Lehman days, confirming the "Catch 22" nature of Quantitative Easing that we have observed since its beginning) we do agree with his analysis of what would happen to the economy if either stocks or commodities are in a bubble (and judging by the violent opinions out there, most investors believe that either one or the other has indeed reached bubble territory), should QE2 end cold turkey: "Viewed objectively, the central banks are trying to push up asset prices using quantitative easing and the portfolio rebalancing effect. The resultant rise in asset prices based on this effect represented a potential bubble—or at least a liquidity-driven event—from the start. The question is whether the real economy can keep pace with asset prices formed in those liquidity-driven markets. If it cannot, higher asset prices will be considered a bubble and will collapse at some point. The resulting situation could be much more severe than if quantitative easing had never been implemented to begin with." Bingo.
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Hint: The bubble is the supply of US currency, not gold, silver or other commodities. These will all have to rise. Hold physical silver and protect yourself from the death of the dollar.
====
Why An Unwind Of QE2, With Nothing To Replace It, Could Lead To The Biggest Depression Yet
http://www.zerohedge.com/article/richard-koo-explains-why-unwind-qe2-nothing-replace-it-could-lead-greatest-depression
Over the past several days, quite a few readers have been asking us why we are so confident that QE3 (in some format: it does not and likely will not be in the form of the Large Scale Asset Purchases that defined QE1 and 2 - the Fed could easily disclose that it will henceforth sell Treasury puts, a topic discussed previously, or engage any of the other proposals from Vince Reinhart disclosed in June of 2003) will eventually be implemented by the Fed. Luckily, instead of engaging in a lengthy explanation of the logical, Nomura's Richard Koo comes to our rescue with his latest research piece. While we disagree with Koo on various interpretations of his about monetary theory (namely that the Fed is not in effect "printing" money and thus creating inflation - this is semantics and leads to a paradoxical binary outcome, whereby if there Fed was successful in boosting the economy, the economy would indeed be flooded with the nearly $2 trillion in excess reserves held with reserve banks. And good luck trying to contain this surge by changing the IOER - if the Fed indeed pushed the IOER to the required 5%+ level it would immediately destroy money markets, leading to the same liquidity freeze that marked the post-Lehman days, confirming the "Catch 22" nature of Quantitative Easing that we have observed since its beginning) we do agree with his analysis of what would happen to the economy if either stocks or commodities are in a bubble (and judging by the violent opinions out there, most investors believe that either one or the other has indeed reached bubble territory), should QE2 end cold turkey: "Viewed objectively, the central banks are trying to push up asset prices using quantitative easing and the portfolio rebalancing effect. The resultant rise in asset prices based on this effect represented a potential bubble—or at least a liquidity-driven event—from the start. The question is whether the real economy can keep pace with asset prices formed in those liquidity-driven markets. If it cannot, higher asset prices will be considered a bubble and will collapse at some point. The resulting situation could be much more severe than if quantitative easing had never been implemented to begin with." Bingo.
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EU agriculture chief slams GMOs
I'm all about using science to enhance life and that includes the food we eat. The truth is however, that GMOs are dangerous. Dangerous because they may suffer a global die off leading to subsequent food shortages, they may cross breed with other plants and the unintended consequences are always the ones that bight. And finally, we just don't know what the health effects on humans are from eating trans-species plants and animals.
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EU agriculture chief slams GMOs, expresses strong support for natural agriculture
http://thewatchers.adorraeli.com/2011/05/17/eu-agriculture-chief-slams-gmos-expresses-strong-support-for-natural-agriculture/
In a bold move that goes against the mainstream flow, European Union (EU) Agriculture Commissioner Dacian Ciolos recently denounced genetically-modified (GM) food crops, citing the fact that they fail to meet various “quality and diversity criteria” that consumers have come to expect, and their inherent lack of benefit for both farmers and consumers. Ciolos also expressed support for individual EU member nations having the freedom to ban GM crops if they so choose, emphasizing the notion that natural, local agriculture is the best route for European nations to take.
Acceptance of GMOs throughout Europe continues to be far lower than it is in the US, partly due to the fact that EU policy dictates that GMOs be properly labeled, while US policy has no labeling requirements. But European consumers have also been far more vocal against the use of GMOs than consumers in the US have been, and numerous other European leaders like Ciolos have publicly spoken out against GMOs, while most US politicians have remained silent on the issue (http://www.naturalnews.com/030422_G…).
In a recent interview, Ciolos properly identified traditional polyculture agriculture as beneficial to high food quality, diverse diets, and natural biodiversity. Sharply contrasted to GM crop cultivation, which represents a chemical-based system of monoculture, traditional agriculture represents a wide variety of unique food items that are not chemical dependent, and that do not put the environment and human health at risk
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EU agriculture chief slams GMOs, expresses strong support for natural agriculture
http://thewatchers.adorraeli.com/2011/05/17/eu-agriculture-chief-slams-gmos-expresses-strong-support-for-natural-agriculture/
In a bold move that goes against the mainstream flow, European Union (EU) Agriculture Commissioner Dacian Ciolos recently denounced genetically-modified (GM) food crops, citing the fact that they fail to meet various “quality and diversity criteria” that consumers have come to expect, and their inherent lack of benefit for both farmers and consumers. Ciolos also expressed support for individual EU member nations having the freedom to ban GM crops if they so choose, emphasizing the notion that natural, local agriculture is the best route for European nations to take.
Acceptance of GMOs throughout Europe continues to be far lower than it is in the US, partly due to the fact that EU policy dictates that GMOs be properly labeled, while US policy has no labeling requirements. But European consumers have also been far more vocal against the use of GMOs than consumers in the US have been, and numerous other European leaders like Ciolos have publicly spoken out against GMOs, while most US politicians have remained silent on the issue (http://www.naturalnews.com/030422_G…).
In a recent interview, Ciolos properly identified traditional polyculture agriculture as beneficial to high food quality, diverse diets, and natural biodiversity. Sharply contrasted to GM crop cultivation, which represents a chemical-based system of monoculture, traditional agriculture represents a wide variety of unique food items that are not chemical dependent, and that do not put the environment and human health at risk
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Silver bouncing off of $33 Today
Today silver bounced off of $33 again. If it goes back up to $35 or more and then comes back down and bounces off of $33 for a third time, I'm moving my chips onto the table and not waiting for a pullback to $31 or $29. Time we'll tell. Right now I'm holding my core position long with dry powder on the side ready to enter when the time feels right. If you got the physical no worries. I'm just talking about trading the paper pslv market.
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The Destruction of Economic Facts
This was given to be by a fellow blogger and I'll be honest, I didn't read it all. fyi
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The Destruction of Economic Facts
http://www.businessweek.com/magazine/content/11_19/b4227060634112.htm
During the second half of the 19th century, the world's biggest economies endured a series of brutal recessions. At the time, most forms of reliable economic knowledge were organized within feudal, patrimonial, and tribal relationships. If you wanted to know who owned land or owed a debt, it was a fact recorded locally—and most likely shielded from outsiders. At the same time, the world was expanding. Travel between cities and countries became more common and global trade increased. The result was a huge rift between the old, fragmented social order and the needs of a rising, globalizing market economy.
To prevent the breakdown of industrial and commercial progress, hundreds of creative reformers concluded that the world needed a shared set of facts. Knowledge had to be gathered, organized, standardized, recorded, continually updated, and easily accessible—so that all players in the world's widening markets could, in the words of France's free-banking champion Charles Coquelin, "pick up the thousands of filaments that businesses are creating between themselves."
The result was the invention of the first massive "public memory systems" to record and classify—in rule-bound, certified, and publicly accessible registries, titles, balance sheets, and statements of account—all the relevant knowledge available, whether intangible (stocks, commercial paper, deeds, ledgers, contracts, patents, companies, and promissory notes), or tangible (land, buildings, boats, machines, etc.). Knowing who owned and owed, and fixing that information in public records, made it possible for investors to infer value, take risks, and track results. The final product was a revolutionary form of knowledge: "economic facts."
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The Destruction of Economic Facts
http://www.businessweek.com/magazine/content/11_19/b4227060634112.htm
During the second half of the 19th century, the world's biggest economies endured a series of brutal recessions. At the time, most forms of reliable economic knowledge were organized within feudal, patrimonial, and tribal relationships. If you wanted to know who owned land or owed a debt, it was a fact recorded locally—and most likely shielded from outsiders. At the same time, the world was expanding. Travel between cities and countries became more common and global trade increased. The result was a huge rift between the old, fragmented social order and the needs of a rising, globalizing market economy.
To prevent the breakdown of industrial and commercial progress, hundreds of creative reformers concluded that the world needed a shared set of facts. Knowledge had to be gathered, organized, standardized, recorded, continually updated, and easily accessible—so that all players in the world's widening markets could, in the words of France's free-banking champion Charles Coquelin, "pick up the thousands of filaments that businesses are creating between themselves."
The result was the invention of the first massive "public memory systems" to record and classify—in rule-bound, certified, and publicly accessible registries, titles, balance sheets, and statements of account—all the relevant knowledge available, whether intangible (stocks, commercial paper, deeds, ledgers, contracts, patents, companies, and promissory notes), or tangible (land, buildings, boats, machines, etc.). Knowing who owned and owed, and fixing that information in public records, made it possible for investors to infer value, take risks, and track results. The final product was a revolutionary form of knowledge: "economic facts."
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