Sad but true, this is coming to a bank near you.
Saturday 30 March 2013
Sunday 24 March 2013
Another Gold Shortage? Dutch ABN To Halt Gold Delivery
Based on a letter to clients over the weekend, it appears ABN Amro is changing its precious metals custodian rules and "will no longer allow physical delivery." Have no fear, they reassuringly add, your account will be settled at the bid or offer price in the 'market' and "you need to do nothing" as "we have your investments in precious metals."
- Source, Zero Hedge, read the full article here:
Thursday 21 March 2013
Arizona Considers Making Gold and Silver Legal Tender
"Arizona could soon become the second U.S. state to recognize gold and silver as legal tender if the Arizona House approves SB 1439.
The bill has already won the approval of Arizona’s State Senate and the Arizona House Financial Institutions Committee which voted the legislation out of committee on a 4-2 vote Monday. The measure now goes to a vote of the Arizona House.
Thus far, only the State of Utah has officially recognized gold and silver as legal tender, (See: Gold, silver coins now officially legal tender in Utah) although the issue has been under consideration this year in four states including Arizona. The Arizona bill defines legal tender as a mode of paying debts and taxes.
The measure also states that any coin or bullion that has gold or silver content and is issued by the United States Government can be defined as legal tender. However, no one can be compelled to accept coin or bullion containing gold or silver. The measure would also mandate that coin or bullion containing gold or silver issued by the U.S. Government cannot be taxed as property since it is to be considered money..."
The bill has already won the approval of Arizona’s State Senate and the Arizona House Financial Institutions Committee which voted the legislation out of committee on a 4-2 vote Monday. The measure now goes to a vote of the Arizona House.
Thus far, only the State of Utah has officially recognized gold and silver as legal tender, (See: Gold, silver coins now officially legal tender in Utah) although the issue has been under consideration this year in four states including Arizona. The Arizona bill defines legal tender as a mode of paying debts and taxes.
The measure also states that any coin or bullion that has gold or silver content and is issued by the United States Government can be defined as legal tender. However, no one can be compelled to accept coin or bullion containing gold or silver. The measure would also mandate that coin or bullion containing gold or silver issued by the U.S. Government cannot be taxed as property since it is to be considered money..."
- Source, MineWeb, read the full article here:
Tuesday 19 March 2013
Jim Sinclair - All Hell Is Breaking Loose After Cyprus Catastrophe
“Well, it should have frightened many of the players involved, and served as a wake-up call. There was a great miscalculation made with regards to Cyprus, and the situation has quickly turned into a catastrophe. There was no real understanding of the entities that were behind the Russian corporations which have money in Cyprus, and the effect of what is in reality the confiscation of Russian ex-KGB money.
The people at the IMF, which have spearheaded this disaster, never expected the ‘Cyprus Solution’ to blow up in their face the way it has...."
The people at the IMF, which have spearheaded this disaster, never expected the ‘Cyprus Solution’ to blow up in their face the way it has...."
- Jim Sinclair via a recent King World News interview, read the full interview here:
Friday 15 March 2013
The Party's Over - How the West Went Bust
In this first of two programs Peston examines how, thirty years ago, momentous decisions were taken which shaped the world we live in today. In China, Deng Xiao Ping opened up the country to foreign capitalists; in Britain and America, the free market revolution was unleashed by Margaret Thatcher and Ronald Reagan. The Party's Over compares the lives of workers in a Chinese company with their co-workers in Britain.
Robert Peston interviews bankers, politicians and economists, and concludes that the boom we enjoyed before the crash was based on an illusion, and that the world's economy is now so unbalanced that in the West we face a sobering wake-up call.
In the second program Peston asks how Britain can compete in the new world economic order. After years of living beyond our means the country surely needs to wean itself off the consumer society, but doing so threatens our retail dependent economy. In Germany the model of thrift and investment, far from the quick buck mentality of the City of London, has produced a powerful manufacturing and exporting economy that Britain, once so proud of its modern finance based approach, is desperate to imitate.
It is a long road to re-balancing the British model and with the Eurozone crisis still threatening further financial Armageddon Peston asks whether we are in for decades, rather than years, of sluggish growth. Featuring interviews with senior economists, bankers and politicians, as well as the ordinary people in several countries, whose livelihoods depend on the outcome of this vast economic reordering of the world."
- Source:
Monday 11 March 2013
Dylan Grice Explains How Crackpot Central Bankers Are Destroying Society
"With their crackpot monetary ideas, central banks have been robbing Peter to pay Paul without knowing which one was which. And a problem here is this thing behavioral psychologists call self-attribution bias. It describes how when good things happen to people they think it’s because of something they did, but when bad things happen to them they think it’s because of something someone else did.... When we look around we can’t help feeling something similar is happening. The 99% blame the 1%; the 1% blame the 47%. In the aftermath of the Eurozone’s own credit bubbles, the Germans blame the Greeks. The Greeks round on the foreigners. The Catalans blame the Castilians. And as 25% of the Italian electorate vote for a professional comedian whose party slogan “vaff a” means roughly “f**k off ”, the Germans are repatriating their gold from New York and Paris. Meanwhile in China, that centrally planned mother of all credit inflations, popular anger is being directed at Japan, and this is before its own credit bubble chapter has fully played out. (The rising risk of war is something we are increasingly worried about…) Of course, everyone blames the bankers (“those to whom the system brings windfalls… become ‘profiteers’ who are the object of the hatred”)."
- Source, Zero Hedge, Read the full Article here:
Tuesday 5 March 2013
Rick Rule - Gold Poised to Bounce
(Video cannot be embedded, please click to watch)
"I think the technical are scary, but the fundamentals are pretty good. What you find in gold bull markets is retrenchments are fairly frequent, and this is nothing particularly unusual."
"It's worth noting, of course, that the fundamentals are excellent," he added. "Gold is denominated in U.S. dollars, and the government seems to be doing their best to depreciate the denominator."
Friday 1 March 2013
The Hidden Secrets of Money - Currency Vs. Money
- Source, Gold Silver.com:
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