Tag Archives: Gold

John Embry: ‘everyone should look at Zero Hedge, Sinclair and KWN’

13 Jun

I had the great privilege recently of speaking to John Embry, the Chief Investment Strategist at Sprott Asset Management. The interview is below:

Episode 131: GoldMoney’s Andy Duncan talks to John Embry, Chief Investment Strategist at Sprott Asset Management (www.sprott.com), about the “Great Gold Takedown”, the road to hyperinflation, and the Orwellian nature of government economic information.

Along the way they discuss the possible financial fallout from the recent Bilderberg meeting and other clandestine conferences, good sources of truthful information for GoldMoney clients, and when western central banks might run out of precious metal.

They also touch upon black swans, how to remain motivated in the possible face of gold price suppression, and the realistic potential of future world monies based upon gold.

This podcast was recorded on 11 June 2013.

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Dr. Paul Craig Roberts on gold and gangster capitalism

5 Jun

Dr Paul Craig Roberts

A couple of days ago I had the great pleasure and privilege of speaking to Dr. Paul Craig Roberts, formerly Ronald Reagan’s economic policy adviser at the U.S. Treasury. Although not a fully-fledged Austrian, Dr. Roberts is still very much on the side of the angels, and his thoughts about economics are both deep and interesting. Here’s the interview:

Episode 129: Andy Duncan has the pleasure to interview former Assistant Secretary of the Treasury, Dr. Paul Craig Roberts.

Andy gets straight to it and asks Dr. Roberts about his view on a manipulated price of gold. Dr. Roberts elaborates on how he sees what has occurred since early April, whom was behind it and the reasons why.

Dr. Roberts sees inherent problems with the US dollar system and expresses grave concerns about the systematic fragility due to excess money printing around the world.

Next Andy poses a question as to what could be done to get things back on track utilising the US political system, which allows Dr. Roberts to express his concerns with the current state of the nation before answering an interesting question regarding his recent book “The Failure of Laissez Faire Capitalism and Economic Dissolution of the West“.

Dr. Roberts poses some important questions about libertarian ideals versus human nature before offering some advice for listeners regarding the future.

This podcast was recorded on the 3rd of June 2013.

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Sibileau: Governments will be forced to resort directly to basic asset confiscation

7 May

Poppy

Stop all the clocks, cut off the telephone, prevent the dog from barking with a juicy bone, silence the pianos, and let the aeroplanes circle moaning overhead. Then read this article by Martin Sibileau:

(Here’s the PDF version.)

Yes, it is an exceedingly technical article, and I would point-blank refuse to sit a 2-hour examination paper based upon it. However, if you wrap a wet towel around you’re head long enough the article makes sense, particularly its last paragraph, and especially its last line:

“Over almost a century, we have witnessed the slow and progressive destruction of the best global mechanism available to cooperate in the creation and allocation of resources. This process began with the loss of the ability to address flow imbalances (i.e. savings, trade). After the World Wars, it became clear that we had also lost the ability to address stock imbalances, and by 1971 we ensured that any price flexibility left to reset the system in the face of an adjustment would be wiped out too. This occurred in two steps: First at a global level, with the irredeemability of gold: The world could no longer devalue. Second, at a local and inter-temporal level, with zero interest rates: Countries can no longer produce consumption adjustments. From this moment, adjustments can only make way through a growing series of global systemic risk events with increasingly relevant consequences. Swaps, as a tool, will no longer be able to face the upcoming challenges. When this fact finally sets in, governments will be forced to resort directly to basic asset confiscation.

As they say in cheap novels, you have been warned.

Ben Bernanke is the Mao of Central Banking

6 May

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Another great Max Keiser show, as he details the continuing failures of the western world’s central banking central planners. Look out for the great shot of a truck backing up, to metaphorically fill itself up with gold.

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the Great Leap Forward in central banks’ central planning which has driven the Housewives of China to buy 300 tons of gold, an act of disloyalty to the central bank revolution. Max notices that Mrs. Wang has displaced Mrs Watanabe as the most important buyer in global financial markets. In the second half, Max talks to Alasdair MacLeod of Goldmoney.com about everything to do with the physical and paper gold markets – from open interest to naked short selling by bullion banks.

The Pope of Fraud, Ben Bernanke

26 Apr

Max Keiser and Stacy Herbert examine the recent gold crash in their usual immutable style. After the break, they speak to Andrew Maguire who discusses what he calls a ‘gold default’ in the bullion bank arena, led by many banks now starting to return cash instead of gold bullion, when clients ask for their gold.

Published on Apr 25, 2013: In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the season for CRASH as algos reading Twitter cause a hack crash in New York; ghost traders in the shadow banking system cause gold ‘slaughters’ in the precious metals markets and Joe Weisenthal seeks smoke signals from the Pope of Fraud, Ben Bernanke. In the second half of the show Max talks to Andrew Maguire about precious metals markets, manipulation and failures to deliver.

The Gold Chimpanzees

24 Apr

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So, it appears bullion banks have been conspiring to take down the futures price of gold to try to profit from the ensuing over-leveraged multi-stopped panic.

But this is absolutely fine with me, on several different levels.

First, I would definitely be fine with this in an entirely private world, if private speculators directing bullion-market banks tried to do this to extract economic profits.

If they got it right, they would make a fortune by exploiting the market’s incorrect Hayekian knowledge that gold was more highly valued than market reality (the only true reality) actually judged it to be.

If they got their massive shorting bets wrong – along with the associated price manipulation shenanigans – then they would be bankrupted (or at least lose extremely heavily) and the imperfect Hayekian knowledge of the market would show us that gold was actually undervalued according to the fickle instantaneous subjective collective desires of eight billion free people.

However, alas, we fail to live inside a private market.

We live instead inside one in which the chaos of delusional force-initiating mafiosi government constantly tries to interfere with market realities, for instance by telling these bullion bank shysters to keep any profits they may make on shorting gold and by promising to print infinite amounts of paper scrip to back up any fiat losses they might make.

Heads you win, tails you fail to lose is a bet I would like to be on the inside track of, if I ever suffered an ethics bypass on robbing my fellow human beings.

So, am I huffing and puffing with indignity as I watch the manipulations of the paper gold market play with what actually may be real volatility in gold’s relentless rise against fiat paper scrip?

Of course not.

I’m just buying more physical unleveraged gold, thankful that the western central banks are willing enough and stupid enough to keep selling me hard cold real tangible assets in return for their elastic paper monkey bubble notes.

The problem of retaining my gold when these self-same chimpoid government monkeys try to steal it back from me in the future, to fund future violent stupidities, I will leave to another post.

In the meantime, back up your truck. Enjoy the cheap gold while it lasts. And fill that truck up.

The unintended consequence of the central planning government bureaucrat clots giving us all all of this gold at knockdown prices will show itself soon enough, fear ye not.

The trick is to be on the right side of the George Carlin joke, when it eventually materialises, to leave homogenised egg all down their bamboozled condescending faces.

You have to remember that these clowns are the same chubby fools you were with at school who spent too much time reading mathematics books, too much time feeling sorry for themselves, and not enough time working out how to chat up the opposite sex.

They’ve spent their lives trying to get revenge on you for kissing all the people they wanted to kiss, but they still failed to learn the only lesson that matters.

And that is, that in the end, the truth will out. And the truth is, that these people, these central bankers, these masturbationary fools, these chubby sad incompetents, are all losers.

And that you are a winner.

And as you’re a winner, help them keep losing to prove me right.

Buy gold. Keep it physical. Keep it unleveraged.

And make sure you keep it safe enough to stop it being stolen back from you in the future.

You are fighting the good fight.

And together, in the glorious pioneering spirit of 1776, we shall win.

The Great Gold vs Bitcoin Debate: Casey vs Matonis

12 Apr

DougAndJon

Yesterday, following the Mt. Gox takedown, I acted as referee between Doug Casey, of Casey Research, and Jon Matonis, of Bitcoin Foundation, as they discussed the relative merits of two free market monies, gold and Bitcoin. It was a great contest.

Episode 121: Doug Casey of Casey Research debates e-money researcher and “crypto economist” Jon Matonis on the virtues – or otherwise – of Bitcoin, and how it compares to gold as a form of money.

Casey, a Bitcoin sceptic, notes that Bitcoin satisfies Aristotle’s definition of what constitutes “good” money in all but one important aspect: that it doesn’t have value in any kind of non-monetary sense, unrelated to its use as a medium of exchange. This is in contrast to precious metals, which have unique chemical properties and uses in an industrial context.

Matonis argues that this is unimportant set against Bitcoin’s strengths: notably the ease of transacting in them and its decentralised nature, meaning that there is no central point of attack for its enemies (whoever they may be). He also points out that – unlike gold – physical confiscation of Bitcoin, a la FDR in 1933, is for obvious reasons impossible.

This podcast was recorded on 11 April 2013.

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