Gold Price: Beware! Government Spooks Infest Gold Market

Today’s revelation of China’s surge in gold imports in the month of November from its principal gold dealer, Hong Kong, exposes Western financial media for the umpteenth time for its blatant propaganda (at the behest of central bankers) against one of the only assets that will protect wealth during these most turbulent times.  Sign-up for my 100% FREE Alerts

“Mainland China’s imports from Hong Kong surged to 102,779kg/oz from 86,299kg/oz in October,” stated bullion advisory group, GoldCore.  “This is a 20% increase from the already high number seen in October and a 483% y/y increase.”

See zerohedge.com for the full article from GoldCore.

Note: see the staggering trend of Beijing gold purchases in the Reuter’s chart, below, halfway through the article.

While a media blitz campaign waged against the gold market kicks into full gear, the Chinese buy tons.

And let’s not forget India, the country that, last year, bought more gold than Switzerland claims it stores with the SNB, which is approximately 1,000 tons.

“Gold traders in India, the world’s biggest buyer of bullion, stepped up buying for the upcoming wedding season, as gold prices stayed near the week’s trough, giving silver a boost,” India’s Economic Times stated on Jan. 11.

The two largest bulk buyers of gold are stepping up with increasingly larger orders as the spot price retreats, but the U.S. and UK media tell readers the gold bull market is over—or that gold should be seriously questioned as to its validity for wealth protection during the biggest financial crisis since the 1930s.

Goldmoney’s James Turk, who told King World News on Jan. 9 that he sees the propaganda machine blitz at full throttle throughout the pullback in the gold price from its incredible rise to $1,920.

Whatever happened to the “buy on the dips” mantra from ‘traditional’ media?

“There is a war going on with regard to gold and people are lined up on both sides,” Turk told KWN’s Eric King.  “The central planners want gold to disappear, but gold is not going to disappear because it’s been money for 5,000 years.  What the central planners and the manipulators and government agents and everybody else are doing is they are putting out a lot of anti-gold propaganda.” [emphasis added]

For those not familiar with James Turk, it was he who broke the story about the UK-based financial magazine The Economist for its peculiar track record for publishing significantly bearish articles at, or near, gold price bottoms.  In two articles, Gold’s Infallible Indicator and Gold’s Infallible Indicator—Six Months Later, Turk demonstrates why gold bugs should watch for that out-of-the-blue gold article from The Economist.

And the Fed’s co-conspirators extend beyond The Economist, the Wall Street Journal, Financial Times (FT) of London, Bloomberg and CNBC serve as propaganda tools (at critical moments) for central bankers as well, according to several reliable sources, one of which is the UK-based Guardian in an article penned by journalist David Miller in Feb. 2006.

“A succession of scandals in the U.S. has revealed widespread government funding of PR agencies to produce ‘fake news’,” Miller stated.

“World Television produces the fake news, but its efforts are entirely funded by the Foreign Office, which spent £340m on propaganda activities in the UK alone in 2001.”

And in the U.S., it’s no surprise that the feds fund propaganda budgets of its own, but presumably much larger than those of the UK.  From ComputerWorld, written by Darlene Storm in February 2011.

It’s recently been revealed that the U.S. government contracted HBGary Federal for the development of software which could create multiple fake social media profiles to manipulate and sway public opinion on controversial issues by promoting propaganda. It could also be used as surveillance to find public opinions with points of view the powers-that-be didn’t like. It could then potentially have their ‘fake’ people run smear campaigns against those ‘real’ people. As disturbing as this is, it’s not really new for U.S. intelligence or private intelligence firms to do the dirty work behind closed doors. 

It can be assumed a lot of UK and U.S. propaganda focus primarily on foreign policy issues.  Wars are tough sell, and a lot of propaganda must be bought in the same way commercial enterprises utilize ‘advertising’ of its products.  Makes sense.

However, instead of outside foes endangering the sovereignty of nations (again, propaganda has us believe otherwise), the 16 intelligence agencies, which make up the NSA, stated in a 2009 report to Congress, that the economy has become an immediate national security concern.

Reuters, February 2009:

“The financial crisis and global recession are likely to produce a wave of economic crises in emerging market nations over the next year,” said the report. A wave of “destructive protectionism” was possible as countries find they cannot export their way out of the slump.

“Time is our greatest threat. The longer it takes for the recovery to begin, the greater the likelihood of serious damage to U.S. strategic interests,” the report said.

According to The New American in an article in September 2011, titled, Fed Plotting to Monitor Critics, Tailor Propaganda, in response to the 2009 NSA report, the Federal Reserve issued a “Request for Proposal” to “monitor billions of conversations” and to “reach out to key bloggers and influencers [sic]” in an effort to massage opinion.

Apparently, CNBC’s Steven Liesman can’t do all the spin work and propaganda for the Fed, himself.

The Fed’s “Request for Proposal” explains that the institution needs a platform to “monitor billions of conversations” and “identify and reach out to key bloggers and influencers.” Information collected will be used to measure the effectiveness of the central bank’s “public relations” and “communication strategies” — known in laymen’s terms as propaganda operations.

“There is need for the Communications Group to be timely and proactively aware of the reactions and opinions expressed by the general public as it relates to the Federal Reserve and its actions on a variety of subjects,” the document states. News outlets, Facebook, Twitter, forums, blogs, YouTube, and other social media platforms will all be targeted.

Government, media and central bankers want the public out of gold and work full time to make it happen.  ‘Analysts’, too, are deployed to spew misinformation about the economy and gold.  No surprise there.  Though, no one has publicly proved that any one particular analyst is involved in the anti-gold propaganda campaigns, but three men have been labeled the worst gold analysts since the gold bull market began in 2001.

Those three, or the “Three Stooges”, gold analyst Peter Grandich had called them recently, Jon Nadler, Dennis Gartman and Jeff Christian, sport truly horrendous records, similarly to The Economist dismal calls, as James Turk had pointed out.

In December 2010, Richard Russell of the famed Dow Theory Letters attacked on both fronts against the these three Lord Haw-Haws, one, the traditional media and, two, Nadler, in particular—though Gartman and Christian could easily have been interposed instead.

“I listened to Kitco’s Nadler on the Bloomberg channel this morning,” Russell stated. “He’s been bearish on gold for months, and I thought he sounded like a know-nothing fool today. Why didn’t Bloomberg interview someone who’s been bullish and right about gold?”

“What’s with the Wall Street Journal and gold?” Russell asked rhetorically. “In the Dec. 6 paper, the front page blares, ‘ETFs and Gold.’ So I turned to the gold article, which included a rare error in its headline, ‘Resisting Gold’s Glister.’ I assumed they meant gold’s ‘glitter.’ The article was written by a Tim Medley, a random guy I had never heard of. Mr. Medley’s main half-assed complaint about gold is that it is too expensive today and therefore dangerous in that it may correct. Worse, claims Medley, there is a current ‘euphoria’ regarding gold. Too many people are bullish on gold. Therefore, gold is about to lose its ‘glister.’”

Gold investors, beware of what you read and who you follow for advice.  As a general rule, stick with analysts interviewed on King World News and not from infrequent or other Wall Street analysts on traditional news outlets.  Sign-up for my 100% FREE Alerts

Also read BER articles on this subject,

Gold Market hit by Chinese Bailout PSYOP; $2,000 Gold “in 45 days,” says James Turk

Gold Price: Lord Haw-Haw Dennis Gartman announces “Death of a Bull”

Richard Russell Doesn’t Trust the Media to Cover the Gold Market

Don’t Walk, Flee America! says Gold Guru

From the recent comments and articles on the Internet following Obama’s signing of the National Defense Authorization Act (NDAA), it appears a good chunk of Americans have figured out that the U.S. has just declared martial law.  Others won’t get it; instead, they’ll serve as ‘useful idiots’ for the subsequent acts of tyranny.  Sign-up for my 100% FREE Alerts

No military uniforms or funny mustaches, just a flick of the pen, utterance of a few words of reservation for authorizing the ‘act’, and it’s done.  No show of force or goon squads rounding up journalists and intellectuals followed the declaration of martial law. No interruptions of regularly scheduled broadcasts to announce the coup and no CSPAN coverage of the event, either.

No sir.  That would be most inadvisable to a pathologic regime confronted with the knowledge that 300+ million firearms are held by ‘free’ citizens who have a long-running disdain for banana republic thugs.

“The president strongly believes that to detain American citizens in military custody infinitely without trial, would be a break with our traditions and values as a nation, and wants to make sure that any type of authorization coming from congress, complies with our Constitution, our rules of war and any applicable laws,” said a White House spokesman.

Of course the signing of the law is a “break of our tradition.”  And with a show of concern, all laws will apply—such as the one he just signed into law.  That is an example of Orwellian Double Speak.

Just as an owner of a wild horse slowly introduces the bridle while feeding it some sugar, whispering kind words in its ear, Washington incrementally introduces the legal and logistics of martial law in the hopes that the majority of its citizens don’t notice the bridle.

It’s quite obvious to anyone paying attention that the signing of the NDAA tips off the world that Washington is dreadfully afraid of its own citizenry from an upcoming ‘event’.  Washington seeks legal cover, such as the Third Reich sought legitimacy before it slammed down the hammer.

The U.S. 9-11 attack is akin to Germany’s burning of the Reichstag in 1933.  Back then, plenty of Germans warned that it was Hitler’s regime who burned down the Reichstag, but few listened.  These tin-foil hats were called nuts in Germany, just as Alex Jones is called a nut, now, in the U.S.

So what do we now call the 50-state nation?  Amerika? Empire?  Banana-merica Don’t know, but what the U.S. has become isn’t America, and should not be treated or referred to as such by other nations and certainly not by its own ‘citizens’.  Incidentally, the U.S. insists that Myanmar continue to be called Burma in protest of the Junta military regime.  Moreover, Jim Rogers notes his dismay that Amerikan citizens are precluded from investing in Myanmar.  Now Iran.

Taking from an interview with Doug Casey, noted international investment adviser and author of many best-selling books, a passage from a book authored by Milton Mayer, They Thought They Were Free: The Germans, 1933-45, seems appropriate at this time.

“You see,” my colleague went on, “one doesn’t see exactly where or how to move. Believe me, this is true. Each act, each occasion, is worse than the last, but only a little worse. You wait for the next and the next. You wait for one great shocking occasion, thinking that others, when such a shock comes, will join with you in resisting somehow. You don’t want to act, or even talk, alone; you don’t want to ‘go out of your way to make trouble.’ … In the university community, in your own community, you speak privately to your colleagues, some of whom certainly feel as you do; but what do they say? They say, ‘It’s not so bad’ or ‘You’re seeing things’ or ‘You’re an alarmist.’

“These are the beginnings, yes; but how do you know for sure when you don’t know the end, and how do you know, or even surmise, the end? On the one hand, your enemies, the law, the regime, the Party, intimidate you. On the other, your colleagues pooh-pooh you as pessimistic or even neurotic … the one great shocking occasion, when tens or hundreds or thousands will join with you, never comes. That’s the difficulty. If the last and worst act of the whole regime had come immediately after the first and smallest, thousands, yes, millions would have been sufficiently shocked … But of course this isn’t the way it happens. In between come all the hundreds of little steps, some of them imperceptible, each of them preparing you not to be shocked by the next. Step C is not so much worse than Step B, and, if you did not make a stand at Step B, why should you at Step C?”

If you’re footloose and fancy free, living in what is now a military dictatorship (Obama is, after all, the Commander and Chief of the Armed Services), consider looking to Burma as a place to escape.  There, the government is very similar, but the cost of living is about 10 cents on the dollar and has potential of becoming one of the best investment areas of the world, according to famed international investor Jim Rogers.

On the other hand, Amerika has no real economic prospects, no legitimate democratic government, and no other purpose than to steal the world’s oil supply, commit war crimes as well as destroy currencies and economies across the globe. It brings drugs in from Mexico and Afghanistan and then arrests its citizens for partaking in the product.   It counterfeits money while it attempts to squash its competitor, gold.  It steals brokerage accounts, kills jobs and fixes elections.

And the U.S. Secretary of State had the nerve to visit Myanmar late last year to discuss how its government can become ‘legitimized’ by the world community.

Time to pack the bags and watch a pack of Noriegas in ties demonstrate why they should be in cages under the supervision of ‘normal’ humans, put Dick Cheney in charge of making them talk into giving the names of all the cowards they really work for.  Sign-up for my 100% FREE Alerts

Gerald Celente: EU Collapses in 90 Days, Bank Holiday and War

Twenty-two months of hysteria of an impending European financial collapse, starting with Greece in March of 2010, will finally come to an end in 2012, according to the founder of Trends Research Institute, Gerald Celente. Sign-up for my 100% FREE Alerts

Hysteria of the horrid possibility of a European meltdown and the dire implications for the world economy a collapse implies will end, as the event finally turns into unequivocal reality by April 1, with accusations of ‘fear mongering’ by a significant portion of the mob quickly dropped in favor of the next predictable reaction to the crisis: outrage against those who allowed the collapse.

“I would say, since I’ve been doing this work, over 30 years ago, I’ve never been more concerned than I am right now,” Celente told ABC, Australia.

In Celente’s latest forecast, titled, The First Great War of the 21st Century—Prepare, Survive, Prevail, he paints a bleak picture for 2012, predicting a worsening of class warfare that already wages within more than a dozen countries, from Tunisia, Egypt, Yemen, Syria, Bahrain and Qatar to the UK, Greece and Italy, which will eventually spread to eastern Europe/central Asia and more intensely in the United States.

But, what the world has seen so far is only a economic and social symptom of central bankers’ stop-gap remedies, haphazardly applied to the global financial crisis since its beginning in the U.S. and the fall of Bear Stearns in 2008.

After dozens of trillions of dollars thrown at a global solvency crisis with nothing but further deterioration to show for the money spent, some wonder if the world is about to slide still further into depression.

According to Celente, when the European Union falters from too much supply of debt coming due ($7.3 trillion from G-7 nations, see zerohedge.com) against the backdrop of sliding demand for more debt, the European domino will topple other dominoes, widening the global depression to include the world’s larger economies.

“If you live in Greece, you’re in a depression; if you live in Spain, you’re in a depression; if you live in Portugal or Ireland, you’re in a depression,” Celente said.  “If you live in Lithuania, you’re running to the bank to get your money out of the bank as the bank runs go on.  It’s a depression.  Hungary, there’s a depression, and much of Eastern Europe, Romania, Bulgaria.  And there are a lot of depressions going on [already].”

And as far as a Chinese riding in on a white horse to save the day, Celente said, it’s “highly unlikely. China has 1.3 billion people with a million problems . . . If the Europeans and Americans don’t buy a lot of crap, then the Chinese can make it and sell it to them.”

He continued to explain that China will then likely slow its imports of materials from countries which have been supplying mined product during the commodities boom, leading to a vicious spiral of increased unemployment and declining economic activity—a scenario strongly intimated by Dow Theory Letters author Richard Russell in his latest letter to investors (excerpts posted on King World News).  Russell, too, expects a steepening U.S. depression, with 25 percent unemployment in the America as his target at the bottom of the depression.

“This whole thing is connected,” Celente explained. “China isn’t going to have the money to throw around to losers anymore than loan shark would give a gambler who can’t pay his old debts back and has a bad gambling habit another loan to gamble . . . They [Chinese] have their own problems to deal with.”

How bad will the next leg down in the world economy likely to be?  Could Russell be right?  Celente believes a comparison with the 1930s is a good one.  He continued, “ . . . you can even listen to Christine Lagarde, the head of the International Monetary Fund, or I like to fondly call it, the International Mafia Federation—the loan sharks of last resort—even she’s saying what we’ve been saying now for three years about the parallels between the Crash of 1929, the Great Depression, currency wars, trade wars, world war.

“The Panic of ’08; you have the Great Recessions—Great Depressions going on.  Oh, by the way, real estate prices in the United States, they’re at a steeper decline than they were during the Great Depression.  Foreclosures continue to mount.  It’s taking people over 40 weeks, who lose jobs to find another job, and then finding one at a fraction of what they lost the old one at.”

And as history demonstrates, when horrible economics overwhelm a society, political leaders search for a means of generating national jingoism to redirect the angry mob.  That search for political safety usually turns to war.

“So then you look at the trade wars that they’re now talking about,” Celente said.  “And, as I said, when you add them up, you have the beginnings of a great war going on already.  Oh, and now, and now, they’re talking about, hey, we did such a great job in Iraq and Afghanistan, why don’t we bomb Iran?  Have you heard the presidential candidates of the United States, with the exception of Ron Paul, that all want to go to war against Iran?  So you can see where it’s going.

“You have psychopaths that have caused a lot of these problems that are giving the answers to how to solve them by adding more violence and criminality on top of old violence and criminality.”

Celente said the kickoff to a global meltdown and a call to war could “spiral out of control” some time “by the first quarter of 2012” as the European crisis worsens to the point of a crack up.  “There’s no way to bail out the European nations,” Celente said forcefully.

And the build up to social unrest, calamity and possible civil war can be seen a mile away, said Celente, who segued into another one of the trends he sees for 2012: Safe Havens (escaping the United States).

“They just passed a law in the United states, the National Defense Authorization Act (NDAA),” he said.  “It now gives the president the right to identify a person like me and call me a terrorist and that I’m against the government.  And the military can come and break down my doors—the military—and arrest me, charge me with nothing, give me no trial, no rights of habeas corpus, no jury, no judge, and they can kill me if they so choose, torture me; they can send me to any country around the world.”

Celente advises preparing now for a quick route out of the United States if a bank holiday (a prediction of his) is called.  The ramifications of a dollar devaluation aren’t clear, but an enacted NDAA, FEMA camp readiness and scheduled TSA checkpoint expansion plans suggest the U.S. may enter a crisis on par with the lead up to the U.S. Civil War of 1861-5. Sign-up for my 100% FREE Alerts

Also see BER article, Gerald Celente Forecast 2012, FEMA Prepares for Dollar Collapse

Jim Rogers, Ron Paul for President

Commodities investor, Jim Rogers, likes Congressman Ron Paul as the next president of the United States.

Though the 69-year-old Singapore resident said he doesn’t formally endorse candidates, Rogers told Australian Financial News Network (AFFN) he likes what he hears from Ron Paul, in as much as Paul at least addresses the issues of restoring fiscal and monetary responsibility in Washington.  Sign-up for my 100% FREE Alerts

“Gary Johnson and Ron Paul seem to understand the problems that are facing America, but I’m not in the business of endorsing political candidates,” said Rogers.

However, Rogers does endorse prudent, yet very painful, remedies to debt levels in the U.S., including real budget cuts, including draconian cuts in military spending, a Ron Paul theme throughout his campaign and throughout the more than two decades as a U.S. Representative from Texas.

The Austrian school of economics advocate, Rogers, also insists the Fed should go, another strong message from Paul, who was heavily influenced by Friedrich Hayek’s book, The Road to Serfdom, while Paul was a medical resident in the 1960s.

“The U.S. Government should abolish the Federal Reserve [System] that’s the first thing they should do.  And they are not going to do that, but they should do is let the interest rates find their normal rate their realistic level,” Rogers told The Street in a Dec. 7 interview.  “Right now, masses of people in America the people who have save and invest the people who have done what we would say as the right thing to do are being destroyed . . .”

And Rogers affinity for Ron Paul is not a recent one; he’s been an advocate for Paul since 2008, as evidenced by his interview with Financial Times of London soon after the election of Barrack Obama.

John Authers of FT started the interview with Rogers, “Now you correctly predicted a year ago that Ron Paul was not going to be elected president, partly because you want him to be.”  Smiling, Rogers interjected, “Right.”  Authers continued, “How worried are you now that we do know who the next president is going to be, are you worried about what you see from president-elect Obama so far do you think that could worsen the situation still more?”

Rogers replied, “Are you worried?  Now, I didn’t vote for McCain.  So I don’t think this is some kind of sour grapes or something.  But Mr. Obama has said his two economic planks are: he’s going to tax capital . . . and he’s going to protect American workers.”

Rogers continued, stressing that he was hopeful that cooler heads in Washington would prevail to stop Obama with his plan from protectionist policies and higher taxes, the precise elixir that torpedoed any chance of recovery during the Great Depression.

Fast forward to today’s AFFN interview, Rogers sounded much more resigned to the fate of a terrible crisis worsening in America.  What Rogers feared in 2008 has progressed into horror, as previous interviews with Rogers suggested that he is concerned that a Fed printing record amounts of money only exacerbates the U.S. economy with the addition of inflation, on top of high unemployment and still higher levels of unserviceable debt.

“We’ve lost one decade In the West . . . as you know, stock markets in America are below where they were 10 or 12 years ago, so we’ve already lost one decade in the economy and the markets,” Rogers explained.  “We’re going to lose at least one more decade, if not two or three.  The Japanese have already lost two decades so far.”

When asked about the prospects of a turnaround in the U.S. political system in time to prevent an economic collapse in the U.S., Rogers isn’t betting on it.

“I’m not confident at all, I have absolutely no confidence that anything’s going to be done,” he said.  Rogers predicts a much worse crisis than the 2008 near-total-collapse of the financial system, starting next year, or 2013.

Rogers has never venture to say what Washington’s response to profound civil unrest would be to U.S. economic Armageddon.  Was it a factor in his decision to uproot and move to Singapore?  One of the regular reporters from his typical media outlet rotation should ask Rogers about this very question.

And what possibly could change Jim Rogers’ mind about the U.S.?  Maybe a Ron Paul win in the Republican primaries and a win in Nov. 2012 would be a promising start to regain some confidence that all is not loss.  Sign-up for my 100% FREE Alerts

Gerald Celente Forecast 2012, FEMA Prepares for Dollar Collapse

Winding down one year ushers in forecasts for the coming year.  And the man many want to hear from most is none other than Trends Research Institute Founder Gerald Celente, whose predictions for 2012 include his most dire one yet.

Speaking with Aaron Task of The Daily Ticker on Dec. 17, the confident and outspoken Celente began the discussion by reminding viewers of his 2011 forecast of mass demonstrations erupting throughout the world.  Sign-up for my 100% FREE Alerts

Celente’s December 2010 prediction came to pass much quicker than even he might have anticipated, as the self-immolation of a Tunisian street vendor Mohamed Bouazizi in December 2010 sparked (certainly no pun intended) the ‘Arab Spring’.

By mid-January 2011, the Bouazizi incident catalyzed riots in the Tunisia capital of Tunis, emboldening watchful citizens of neighboring countries to take to the streets of Algeria, Morocco, Libya, with the main event mushrooming in Cairo, Egypt, symbolically taking center stage at the Mecca of the Arab World throughout the summer, and again, recently, in a Part II of the struggle for liberty.

Then came the Occupy Wall Street (OWS) movement, the first significant uprising from North Africa’s brethren counterparts of the West.  Beginning on Sept. 17, a small gathering of young adults at Zuccotti Park in New York City’s Wall Street district began the protest of growing wealth disparity in the U.S.

So where to now?  Celente said ‘Occupy’ appears to have legs, or in this case, an endless number of tentacles.

“Time Magazine, is, well, not on time,” Celente said, referring to Time Magazine’s, ‘Person of the Year: The Protester’ issue of Dec. 15.  “They’re just calling it protestors.  We’re calling it, ‘The Invasion of the Occtupy’.”

Celente goes on to explain the critical difference between the Occupy movement and another anti-establishment organization, WikiLeaks: Occupy has no leader, which, Celente believes, gives the movement enduring robustness in the fight for an end to the fascist takeover of the ‘Free’ World.

“The very weakness that the people think of the Occupy movement, not having a leader, not having one message, is, in fact, its very strength,” he said.  “For example, you take the WikiLeaks, big news and doing a lot of important information coming.  But it died because they cut the head of the leader off.”

He added, “The Occtupy doesn’t have a head to cut off . . . the tentacles, they’re reaching everywhere . . . You cut off one tentacle and another one grows.  There’s no one base, there’s no one message.  This is huge and it’s just going to continue and spread.”

Celente points to Wall Street bankers and complicit politicians as the cause of the Occupy movement, referring to JP Morgan CEO Jamie Dimon, in particular, as the epitome of Wall Street corruption and arrogance.

“I heard Jamie Dimon, CEO of JP Morgan Chase,” Celente said.  “He doesn’t get it, why people are angry, you know, with people that are successful and making a lot of money.  Guess what?  The greedy never get it.  The gap between the rich and the poor in this country is this widest in any of the industrialized nations.”

“You have an off-with-their-heads moment that’s being generated now,” Celente added, somberly.

Two days later, on Dec. 19, Celente continued the discussion of his 2012 predictions with Eric King of King World News, elaborating to KWN’s more financially-focused and specialized audience on some more sensitive issues he didn’t cover in his interview with The Daily Ticker.

“One of our tends is the technocrat takeover.  Over in Greece or over in Italy, they are all bragging they’re bringing the technocrats,” Celente told KWN.  “It’s not the technocrats, it’s the bankers.  The bankers have taken over the temples of the capitals of the world.”

Instead of applying the concept of a Jubilee Year, founded upon the wisdom of 1750 BC Babylonian King Hammurabi, who canceled burdensome debt levels of his people in order to preserve his kingdom, today’s bankers have set a course for revolution, according to Celente.  (See economist Michael Hudson Dec. 2 article, titled, Hammurabi Knew Better, Debt Slavery – Why It Destroyed Rome, Why It Will Destroy Us Unless It’s Stopped.)

“As the bankers take over, and we’re seeing what’s going on,” Celente added, “they are throwing out democratically elected governments, we are forecasting there is going to be a severe decline in 2012, particularly in Europe.”

“So that brings us to the next trend, get ready for economic martial law,” he continued.  “They are going to call a bank holiday.  So what we are saying is conditions have become a lot worse.  And a bank holiday is no holiday folks.”

Celente speculates that Congress’ passage of National Defense Authorization Act is a tip off to a terrible national event scheduled or anticipated by the U.S. government—an event bad enough to possibly spark a revolution in America.  He calls that trend prediction: Battlefield USA.

“It just became law. The Bill of Rights in the United States has been abrogated,” Celente said.  “They [Congress] passed the new Defense Act and in that Defense Act they have in there, in clear language, anybody can be arrested under the National Defense Authorization Act . . . No judge, no jury, no trial, no rights of habeas corpus.  This is what the United States has become.

“So they are putting the soldiers in place.  I used to think they were nuts talking about the FEMA camps, now I don’t anymore.”  Sign-up for my 100% FREE Alerts

Gold Price: Lord Haw-Haw Dennis Gartman announces “Death of a Bull”

Timing gold purchases is quite often very difficult, even for the so-called pros.  So if you think you don’t have what it takes to trade among the best, don’t feel bad, even the ‘pros’ get it wrong.  Sign-up for my 100% FREE Alerts

Taking Virginia-based economist and publisher of the Gartman Letter, Dennis Gartman, for example.  His track record for forecasting gold prices is so bad that he’s become known as the latest contrary indicator—a ‘professional’ punter, if you will.

Moreover, it’s been suggested that the reason for Gartman’s subscription base is to get fast-track knowledge of Gartman’s trade so that a trader can take the other side.

Just last week, Gartman told Bloomberg News, “we are out of gold” as of Monday (Dec. 12) and “the beginnings of a real bear market, and the death of a bull.”

Sounds dreadful, doesn’t it?  So what should gold holders do?  Well, let’s see how the advice of the gold market’s Lord Haw-Haw panned out for investors during previous corrective phases—which, by the way, are those very times when buying gold makes more sense in a secular bull market.

“I feared the whole financial system was coming to a halt, and you need a little gold in that case,” Gartman told Bloomberg News on Nov. 3, 2008.  “I doubt it will anymore. But it sure felt like it a month ago. There’s no value in gold now.”  (See chart, below.)

Three weeks later, on Nov. 25, Gartman didn’t change his mind; he got more bearish when he should have been a raving bull!

“We are short of gold,” he said in a Bloomberg interview. “We shall always sell rallies such as these that retrace as classically as this market has.”

As the market continued to rally, Gartman became ever more aloof, stating on November 16, 2009 that there was, indeed, “a gold bubble” and anyone thinking otherwise is “naive.”

Apparently, ‘Mr. Gold’ James Sinclair of JSMineset hasn’t been a long-term subscriber to the Gartman Letter.  Eight weeks earlier, Sinclair saw gold for what it is: a hedge against currency devaluations.

“The carry trade has dropped the dollar as a currency of choice,” Sinclair told Bloomberg Radio in a Oct. 7, 2009.  “Gold is competition to currencies,” and added that he expects gold to reach $1,650 per ounce by the first quarter of 2011.  Sinclair was off by five months, as gold soared during the summer of 2011, reaching his $1,650 price target in August.

Back to Gartman:

Somewhere between the dates Nov. 16, 2009 and May 18, 2010, Gartman became to think, maybe, it was he who was naïve about the gold market, jumped back into the “bubble” at some point during the six-month period, then proclaimed to Reuters on May, 18, 2010, “We want out and are heading for the sidelines.”

Now Gartman tells us gold is done.  Finished.  The Fed is done bailing out banks on both sides of the Atlantic and a deflationary collapse is coming.

Apparently, others, too, have noticed Gartman’s poor record of calling bull market tops.  Didn’t Marc Faber make reference to these misguided souls in his interview with Financial Sense Newshour?  See BER article, Marc Faber Fears Gold Confiscation.

From zerohedge.com:

“In August 2011, Gartman said that gold was the biggest bubble of our lifetime. Inconsistently, only last week, Gartman said on CNBC that he is ‘long gold’ and has been for ‘six or seven months’,” zerohedge’s ‘Tyler Durden’ wrote.

“Gartman’s short term calls on gold and silver have been wrong more often than not in recent years. He tends to turn bearish after gold has already experienced a correction and is close to bottoming.

“Those wishing to diversify and add gold to their portfolio will use his call as a contrarian signal that we may be getting close to a low in this most recent sell off. Our advice is to ignore gurus, price predictions and noise – up and down – and focus on the real fundamentals driving the gold market.”

The obvious question, therefore, is: Why subscribe to the Gartman Letter while others steeped in the gold market have gotten it right?  One doesn’t have to pay for some good advice.  Just point your browser to King World News and listen to Eric King’s interviews with the gold market’s real McCoys, or read James Sinclair’s JSMineset.com blog.  Sign-up for my 100% FREE Alerts

Gold Price War: Nouriel Roubini vs Windmills

In a Tweet yesterday, the ingenious gentleman Nouriel Roubini de la Milan taunted the gold bugs, “Where is 2,000?”

Someone should have Tweeted the self-described ‘global nomad’, “Ask Bernanke, my Lord; he’s almost done building that windmill for you to fight.”  Sign-up for my 100% FREE Alerts

But, it appears the errant-knight isn’t ready to go home, quite yet.  And like Don Quixote, whose repeated follies resulted in his uneducated squire paying  Quixote’s damages, the investor who follows Roubini will most likely receive a similar bill at the end of a failed monetary system.

In December 2009, when gold traded at $1,100/oz, Roubini exclaimed, “all the gold bugs who say gold is going to go to $1,500, $2,000, they’re just speaking nonsense.”

On the other hand, Marc Faber, the man, who, not only has worked hard protecting the public from American pathocracy, has been right more often about a subject he knows something about: gold—and its critical role as a competing medium to mismanaged state currencies.

But the modern-day high priest charlatan of Milan pretends he’s never heard of Martin Luther or Copernicus.

When Faber was asked in a Dec. 7 FSN interview why gold hasn’t crashed the U.S. dollar yet, Faber blamed the countless deflationists who still follow the likes of Roubini, Prechter, Shilling and David Rosenberg (who appears to have recently defected, from his note to clients, titled, Eight Areas of Behavioral Change to Watch for in 2012, where he sneaks out the back door of deflationists headquarters).

“I don’t hear about gold.  I lived through the last gold bubble between 1978 and January 1980.  The whole world, whether you were in the Middle East or in Asia or Europe or in America was trading London gold, buying and selling every day,” he recalls.  “This has not happened yet, and it hasn’t happened.  Your friends, the deflationists, have been telling people that gold will collapse to $200 an ounce for the last 10 years and that it was in a bubble.

“[They] said it [gold] was in a bubble at $500; they said it at $600, and they’re still maintaining it.  So a lot of people they don’t own it; they bought it and sold it again.  But in the meantime, gold has moved into sold hands.”

See BER article, Marc Faber Fears Gold Confiscation

In the FSN interview, Faber is talking about Roubini, for one.  The graph, below, reveals whether Roubini has been right about gold since his bold statement of Dec. 2009.

So far, Roubini has cost us 33.8 percent at the supermarket and gas station.  How much has the Larry Summers and Jeffrey Sachs protégé cost us to purchase a lousy 2 percent dividend yield of the DJIA?

Roubini cost us 20.1 percent to receive 2 measly percent, which loses us money after inflation, anyway.

Listen to his economic outlook because he’s good at that, but ignore his advice of where to put your savings.  Stick with Faber, Rogers, Sinclair and others about wealth preserving positions.  And visit the Web sites of James Turk and Eric Sprott for how and where to protect your assets.

Wouldn’t it be nice to see $1,200 gold?

Gold $1,200?  It would be great, sure.  But we’d have to listen to Roubini’s I-told-you-so nonsense.  Preserving wealth not only making the right decisions, it involves resisting the psychological warfare waged by possible plants who will discourage the silver bullet option (gold and silver) away from the Federal Reserve system.  In fact, many have questioned whether Roubini, Dennis Gartman and Jeff Christian are today’s Lord Haw-Haws.

Sounds like another tin-foil-hat conspiracy theory?  Who knows the truth about anything when a bunch of sociopaths have taken over the financial industry, government and media.  Ask yourself how well would you have fared listening to Bernanke, Greenspan, Roubini, Gartman or Christian?  Ask Gerald Celente.

“I think it is absolutely essential in a democracy to have competition in the media, a lot of competition, and we seem to be moving away from that.” —Walter Cronkite

“Most Americans have no real understanding of the operation of the international money lenders. The accounts of the Federal Reserve System have never been audited. It operates outside the control of Congress and manipulates the credit of the United States.” —Sen. Barry Goldwater (Rep. AZ)

“It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” —Henry Ford

“Government spending is always a ‘tax’ burden on the American people and is never equally or fairly distributed.  The poor and low-middle income workers always suffer the most from the deceitful tax of inflation and borrowing.” —Congressman Ron Paul

“All the gold bugs who say gold is going to go to $1,500, $2,000, they’re just speaking nonsense.” —Nouriel Roubini de la Milan

Silver price: Hey Silver Bugs, You Cryin’ Yet?

The more silver bugs cry as they watch the latest breakdown in the silver price the better it is for the rest who will make it through to the other side of the biggest financial crisis since the Civil War.  Sign-up for my 100% FREE Alerts

Take in the economic scenario the Fed faces, then ask yourself what the Fed will do about it and which planet will the silver price orbit after the dust settles.  Here are the facts that should calm investor fears:

“Let us be honest. The U.S. is still trapped in a depression a full 18 months into zero interest rates, quantitative easing (QE), and fiscal stimulus that has pushed the budget deficit above 10pc of GDP,” The Telegraph’s Ambrose Evans-Pritchard penned in a Jul. 4, 2010 article.

Now look at Shadowstats economist John Williams’ chart, below.  GDP is again dropping, 18 more months later, from Evan-Pritchard’s last year’s Independence Day article. (The real GDP is calculated by Williams, shown by the blue line.)

Now, take a look at the number of U.S. food stamps recipients?  Does the graph, below, square with an employment rebound?

If the economy has been on the mend, slowly creating jobs for nearly a year now, why have there been 4 million more food stamps recipients in the U.S. since July 4, 2010?

Note the blue line in John Williams’ graph, below.  That’s the real unemployment rate (approximately 22.5 percent)—the rate that would have been reported by the BLS during President Ronald Reagan’s first term (1981-85).

And the jobs created which blunted a crashing jobs market have been the throwaway kind.  See BER article, Gerald Celente:  Brace for Economic 9/11.  The trends forecaster describes the type of jobs created, mostly the type of local jobs that you would find on the tropical island of Fiji, not the high quality jobs found in Germany or Switzerland.

And it’s about to get worse, as Celente predicts.

The U.S. is “tipping into a new recession,” ECRI’s Lakshman Achuthan told Bloomberg Radio on Sept. 30  “We don’t make these calls lightly. When we make them, it’s because there’s an overwhelming objective message coming out of our forward-looking indicators. What is going on with the leading indicators is wildfire; it’s not reversible.”

Since Sept. 30, Achuthan hasn’t budged from his dire forecast.  (See Economic Cycle Research Institute—ECRI, here and, of Dec. 9, here.)

Okay, the Fed faces a U.S. economy that’s rolling over—again—from an already negative GDP, according to John Williams.

So, what will the Fed print to prevent an economic collapse?

Watch it; it’s a trick question!  Jim Rogers explains in a Dec. 14 interview with TheStreet:

TheStreet Reporter: What should the Fed do at their upcoming meeting, aside from QE3?  We’ve seen more Fed presidents come out and call for more monetary easing.  What should they really do?

Jim Rogers: They’re already, Alex, they’re already . . . QE3 is already here, Alex.  Get out the numbers for non-seasonally adjusted M2, and you will see that Mr. Bernanke said, in the summer, we’re going to keep rates artificially low. You can’t just say the words, you got to do something.

Rogers goes on to say that the Fed hasn’t stopped printing money since QE2; it just wants people to think it has.  And thanks to a complicit media, whose been told to repeat the con over and over in an effort to prevent a bona fide run on currencies, some investors still believe the Fed has stopped printing.

Look at the chart, below.  A couple of months ago, the Fed was expanding M2 money supply by 20 percent!  That’s a rate that even former Fed Chairman under President Nixon, Arthur Burns, would blush at, as the maestro of the 60s and 70s presided over the highest U.S. inflation rate since the Civil War.

The Fed never stopped printing!

Silver investors now wait for Bernanke to announce even more printing! That’s when the top blows off the gold and silver market, according to Jim Rogers, Peter Schiff, Jim Rickards, Marc Faber, James Turk, James Sinclair and FX Concepts John Taylor.

That signal could come in late January, maybe tomorrow, or next week, but it’s coming.  Let’s see what more Fed money printing will be called this time.

Back to the Rogers interview.  Notice how the scripted question by TheStreet reporter was written in a way to fool the public into thinking that the Fed hasn’t been printing money since so-called QE2 ended on June 30?

It’s the ol’ leading the witness trick, with a false premise to plant a lie in the minds of the observers, to throw them off the track to the truth.   At least TheStreet reporter didn’t stoop to the, “Well, of course you’re going to say that, Jim, you sell your Rogers Commodity Fund” line, or something along those lines.

Here’s another example of the vicious propaganda thrown at some pretty smart guys who warn of a coming tsunami of commodities price inflation in 2012:  Witness the Marc Faber interview on CNBC, last week.

In his interview with CNBC’s ‘working girl’, Maria Bartiromo, Marc Faber got the better of the dullard Bartiromo, working her over pretty well (if she noticed).  Faber’s had 20+ years experience dealing with such nonsense during his time living in Thailand.

Do a Google Images search on the term, “Maria Bartiromo.”  You’ll see endless poses in the search results.  That’s what CNBC thinks of you—a 20-year-old drunk on a Thai vacation.

Bartiromo, after hearing Faber’s gruesome assessment of the world economy, said, “Okay, you think the world is ending, so which five stocks would you buy?”

By the way, if you didn’t listen to the Bartiromo interview, Faber outdid himself with yet another one his great Faberism.  He retorted, “I Have A Very Special Stock Tip For You. The Symbol Is G-O-L-D.”  Now, that’s a great Faberism!

And finally, and more dramatically, The Hat Trick Letter’s Jim Willie explains the Fed con in a really classic Jim Willie style—his style is the rambling and information-packed rant!  See BER article and link to audio interview here.  Willie covers almost everything in this interview that silver investors should know.

So we see sub-$30 silver.

Now for the question that’s on everyone’s mind . . . drum roll please. . . how far will the silver fall?

And the answer is the same as it has been since the bull market began in 2002: When every last ripe apple falls from the shaken tree.  That’s when the price will stop falling.

And right now, the tree needs to be shaken as hard as the Fed can shake it, because the next move up in silver will most likely be akin to the last one.

You remember, the move from $17.50 to $49.94, from August 2010 to April 2011, a 177 percent price explosion higher within 8 months?!

The Fed would just prefer the base of the next move for silver (gold, too, as well as oil and other commodities) is lower before the massive catapult higher.  Also, remember, north of $50 in the price of silver unleashes the metal; there is no resistance levels above that price.  This is the last stand for the Fed, and it will make the best of it.

Wow! China Gold Imports Spike 4,000% y-o-y

UK-based International Business Times reports China’s gold imports spiking 50 percent in October from September, and soaring 4,000 percent from October of a year ago, to an all-time single-month record high of 85.7 tons.  Sign-up for my 100% FREE Alerts

Though India’s anticipated record gold imports of a 1,000 tons this year could slow due to signs of slowing jewelry demand from a recent 20.3 percent crash in the rupee, since August, investors can no doubt count on China to, not only take over the gold market slack, but soon-to-dominate the New York-London gold cartel

As a reminder to evolving drama in the gold market, WikiLeaks exposed China’s plan to break from its sadistic recycling of trade surpluses into U.S. Treasuries, a shift in strategy by Beijing that’s prompted other Asian nations to follow suit.  See BER article, WikiLeaks Drops Bombshell on gold Market, GATA right again!

Source: U.S. embassy cable – 09BEIJING1134

According to China’s National Foreign Exchanges Administration, China’s gold reserves have recently increased. Currently, the majority of its gold reserves have been located in the United States and European countries. The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold’s function as an international reserve currency. They don’t want to see other countries turning to gold reserves instead of the U.S. dollar or euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar’s role as the international reserve currency. China’s increased gold reserves will thus act as a model and lead other countries toward reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the renminbi.

And the promotion of the “internationalization” of the renminbi has noticeably accelerated this year.  On a year-over-year basis, the amount and rate of increase of gold purchases by the People’s Republic of China is no less impressive than the $3.2 trillion of foreign reserves slated to be deployed by Beijing.

IB Times quotes Credit Suisse analysts Thomas Kendall, who sees “Chinese imports of the yellow metal hitting 470-490 tonnes for the full year, up from last year’s 245 tonnes,” a near-double spike in volume anticipated at the close of 2011.

And it appears that the Chinese are patient when accumulating gold, outside of its steady purchases from its own China-based mining industry, buying on opportunistic dips created by periodic hedge funds selling.  In fact, the notorious sell offs in the gold market plays into the hands of the masters of Sun Tzu (1), as September’s swoon from one large hedge fund manager provided attractive prices for Beijing’s rapid gold accumulation program.

“Analysts said the [gold] buying, led by emerging market central banks intent on diversifying their growing foreign exchange reserves, helped explain gold’s rebound from a low of $1,534 a troy in September as large hedge funds such as Paulson & Co were forced to sell some gold to cover losses elsewhere,” stated the Financial Times of London on Nov. 17.

After dominating the world economy in production and exports of the past two decades, Beijing’s next Mao-like ‘Great Leap Forward’ enlists 100s of million of China’s middle class in a joint venture with its central bank to now wrest control of the gold market away from New York and London.

As the world witnessed the powerful rise of China, post Tiananmen Square, the power of 1.3 billion Chinese, encouraged and mobilized by a centrally-commanded political structure to achieve an objective vital to its national security can produce awesome results.  As the WikiLeaks cable exposes, today, Beijing is out to break the gold cartel with its awesome population might.

Since 2002, after lifting the 53-year ban on gold ownership under Mao Zedong, the Chinese have eagerly scooped up gold coins and jewelry at rapid rates, to numbers which now rival India’s colossal demand for the yellow metal.

Forbes Magazine reported in March, “Believe it or not Ripley! The People’s Bank of China (PBOC) recommended yesterday that 1 billion Chinese consider buying gold as a hedge against inflation and to preserve values in a world where currencies can fall. . . . Wow! Be like the Fed telling you to buy oil stocks or crude oil futures due to expectation higher gasoline prices this summer.”

According to the World Gold Council, total gold demand in the PRoC will reach 750 tons in 2011.  In the third quarter, consumer demand for the precious metal continued to soar, led by a 24 percent increase in demand of 60.2 tons of gold bars and coins, from last year’s third quarter total of 48.5 tons, while demand for jewelry rose 13 percent.

Front-running China’s demand

Frank Holmes, contributing editor for Forbes Magazine penned an article, today, titled, Central Bank Appetite And The Monetary Case For $10,000 Gold.  Holmes sees what the Chinese see: a tsunami of money creation coming out of the U.S. and the ECB, whose combined currencies comprise approximately 88 percent of all central bank reserves.

In the Forbes article, he quotes long-time friend and founder of Goldcorp’s Silver Wheaton, Frank Giustra:

The bottom line is that the money needed to bail out Europe and to fund America’s spiraling debt and future unfunded obligations is in the tens of trillions. IT DOES NOT EXIST.

It has to be created by printing money in massive quantities, and despite all the rhetoric you will hear against such policies, in the end it’s the path of least resistance. Printing money is an invisible tax on savings, much easier to initiate, than, say, raising taxes or cutting back on services and entitlements.

Under the Holmes scenario, which, incidentally, has become an ever-increasingly common conclusion, drawn by many well-respected analysts, the gold price could move as high as $10,000 per ounce in coming years.  That means: the dollar and euro are expected to erode significantly in purchasing power during that time period.

As far as the question: when is a good time to buy gold?  Stephen Leeb, author of Red Alert: How China’s Growing Prosperity Threatens the American Way of Life, has researched China and its strategic initiatives for the coming 20 years.  According to him, just jump in and wait, because a few hundred dollars here, or there, won’t amount to much in the long run.

“So how low gold will go here is literally meaningless,” Leeb told King World News on Monday.  “My advice to investors is don’t try to catch a bottom and be a hero.  It could happen any time.  It could be happening as we speak, it could be happening today.  But it’s really irrelevant.  Let’s say gold is at $3000, $4,000 or $5,000 in three or four years, which I think is very, very likely–are you really even going to remember that it went to $1,650 or $1,550?  No.”

(1) From Wiki: The book was first translated into the French language in 1772 by French Jesuit Jean Joseph Marie Amiot, and into English by British officer Everard Ferguson Calthrop in 1905. Leaders as diverse as Mao Zedong, General Vo Nguyen Giap, Baron Antoine-Henri Jomini, GeneralDouglas MacArthur, Napoleon, and leaders of Imperial Japan have drawn inspiration from the work. The Art of War has also been applied to business and managerial strategies.

MF Global Case Exposes JP Morgan COMEX Fraud

With 19 days left in the year 2011, one would think that the famous Ann Barnhardt interview, posted Dec. 1, on the FinancialSense Newshour website was a shoo-in for the most important interview about your money this year.  Sign-up for my 100% FREE Alerts

But, it appears that Jim Willie of The Hat Trick Letter takes Barnhardt’s gruesome assessment of the financial industry several steps forward in classic Jim Willie style.  Marc Faber, Jim Rogers and, even Gerald Celente, Peter Schiff and Max Keiser, don’t do quite the justice to the topic of: the tag team effort by the bankers, regulators and politicians who conspire to fleece the American people, like Jim Willie can do.

For those already familiar with Jim Willie, go right to a most fascinating interview with the man, who, prior to the Lehman collapse, was unfairly referred to as ‘Crazy Jim’ for his ‘ridiculous’ prediction for systemic financial collapse at a time when the compelling evidence for such an event could only be appreciated by those few among us steeped in all the academic disciplines of money, history and of human behavior, rolled up into one.

Jim Willie interview, click here.

For those unfamiliar ears to the Willie experience, his presentations sound no less crazy than they’ve sounded of the past.  His presentation of the facts, the events of past and present, as well as the conclusions he draws, appear ‘nutty’ to the layperson.

But no one can ever say that the man has ever been wrong about what he has for many years envisioned—and expressed in no uncertain terms, proving once again the adage: It’s not, what a man says; it’s the posture in which the man says it, that appeals to the man-on-the street.  See Milgrim Experiment.

Though Willie earned a Ph.D. in inferential statistics, he won’t wear a suit and tie or a lab coat.  You’ll have to take in the data and draw your own conclusions, because he sounds exasperated from those around him who won’t listen—even his own family members.

Jim Willie, PhD., now, presumably, lives a peaceful life in Costa Rica, where he publishes his famous Hat Trick Letter.