https://youtu.be/W4Xb29geVwE

Where is the uproar over mutilated babies?

mkt, we could say this might be a washout/V bottom–but the bounce could be meaningless and in the morning gold could be down 60-90 bucks…

Creator Of Internet Privacy Device Silenced: “Effective Immediately We Are Halting Further Development”

http://www.zerohedge.com/news/2015-07-19/creator-internet-privacy-device-silenced-effective-immediately-we-are-halting-furthe

it’s going to be a long way down. I’m looking for a weekly reversal up from here. Notice that you can’t buy phiz at these levels. They always do this is after hours trading. I would be worried if it was during normal hours.

i will try to buy a little extra phiz this week.

rno

down 31.80 getting into the 1K area, will it reverse?

Why do I doubt it?

and reverse in the am. Instead, gold down $1 means more drifting lower pain. No capitulation anywhere to be found.

Funny, those are the same people that hijacked the Democratic party!

I work at a job shop that has union welders, they are good men. Most people just want to be led, appreciated and respected for the value of their work. I have no problem with these guys. Our business has a problem in terms of competing with other non-union shops in commercial work. Gov’t work we do okay. It’s not the wages we pay that hurt us, it’s the level of benefits and union pensions that makes us uncompetitive. What they don’t realize is that most will never see a dime of their pensions – the Globalist controlled pensions!

No worries though, as Floridagold says, the Repulicrats will say nothing while being beholden to the same globalists that have hijacked both parties. We are in the final stages of “the big squeeze” either we go the way of Greece or we stand and fight. It really is that simple.

None other than KWN’s Alistair MacLeod…..the pump primer

China being forced to back the Yuan is becoming more of a distant proposition with their latest announcement.

http://www.zerohedge.com/news/2015-07-19/credit-deflation-gold

In my younger days I worked in a union shop. Back then unions were needed as there were definitely abuses going on. Some of the union people were good people.  That all changed later as special interest groups (feminists and gay activists etc.) took over the union and ruined the company. The same thing has happened to the auto industry.

Which Is A Bigger “Act Of Faith” – Owning Gold Or Stocks?

Tyler Durden

There is some more gold-bashing in Zweig’s piece which readers can read on their own, but here is the punchline:

Zweig writes=”With greenhorns in gold starting to figure all this out, the price has gotten tarnished. It is time to call owning gold what it is: an act of faith.”

Now that is odd, because it was just a few months ago that Citigroup said exactly the same thing about owning stocks!

…. investors remain united in their faith in the central banks – if not for their ability to create growth, then at least in their ability to push up asset prices. And yet the limits of that faith are increasingly on display. Not only are there signs of trouble at individual corporates on the ground. There is also a growing realization that the central bankers themselves – be it the ECB today, or the past and present Chairs of the Fed – subscribe to different theologies.

For now and for next year, we think the grip of the Inner Party seems firm, and (provided they are prepared to wield it) liquidity will keep pushing up prices. But whereas Orwell’s processes of Learning and Understanding led inevitably to an ending involving Acceptance and Reintegration, the real world’s liquidity addiction feels to us merely like the end of a chapter.
Ironic that even Citigroup dares to mock the Inner Party and its Thought police in this case manifested dutifully by Mr. Zweig.

To be sure, there is little point in trying to point out to well-paid public relations agents and access reporters posting as the “journalists” that make up the WSJ’s “economics” vertical (which proudly showcases such case examples as Jon Hilsenrath, who is less concerned with the sanity of goldbugs and more with why America’s “stingy” proles refuse to spend money they don’t have) that while his philosophical ramblings on gold completely miss the point, he is actually is spot on to point out that in world of quadrillions in financial assets …

Over-the-Counter derivatives, notional amounts: $692 trillion at year-end 2014, per the BIS. For comparison, this figure was $72 trillion in 1998.
Global real estate: $180 trillion, according to global real-estate services provider Savills.
Global debt market, both securities and other forms of debt: $161 trillion at year-end 2014, per the Institute for International Finance’s Capital Markets Monitor. According to the Bank of International Settlements (BIS), debt securities make up $95 trillion of this total.
Global equities: $64 trillion, per the World Federation of Exchanges.
Global M1 money supply: $24 trillion at year-end 2013, per the World Bank.
Gold: $6.8 trillion at year-end 2013, according to the Thompson Reuters GFMS Gold Survey.

… physical gold is the only one without counterpaty risk.

There is also little point in pointing out to a WSJ “economics” reporter that by onboarding $22 trillion in risk, the “bad bank” hedge funds formerly known as central banks have explicitly made the quantification of counterparty risk impossible, which is precisely why to those not blinded by ideology, and whose view of the world is contingent on not spooking advertisers such as Wall Street’s biggest banks, explaining anything is a moot point.

However, since the WSJ was once a good medium of “investigative” journalism, here is a hint. Instead of devolving to name calling and passing off ideological diatribes as analytics work, here is something you can actualy investigate.

As Zero Hedge first reported several weeks ago, it was none other than the Office of the Currency Comptroller who reported that not only did JPM blatantly corner the commodity market in the first quarter of 2015 as shown in the chart below (even as gold derivatives were unexpectedly and mysteriously lumped in with FX/currency instead of “pet rocks”)…

… but at the same time Citigroup also cornered the “Precious Metals” market:

So here’s a thought Jason: instead of quoting a Barclays analyst why “a lot of investors have become disillusioned with gold” and why “safe-haven demand hasn’t been strong enough to lift prices, but has only been strong enough to keep them from falling”, maybe you can try to figure out why that is the case.

Start by making a few phone calls to Citi or JPM and find out why their commodity/precious metal derivatives exploded as they did – as can be factually seen in the OCC’s Q1 report – at a time when gold has not only not risen following a surge in global risk, but has tumbled to its lowest value since 2010.

Because that’s what actual “reporters” do – they report, something the WSJ may have forgotten.

http://www.zerohedge.com/news/2015-07-19/which-bigger-act-faith-owning-gold-or-stocks

The WSJ has released yet another gold hit piece calling it a “pet rock’ and gold bugs “subjects of a laboratory experiment on the psychology of cognitive dissonance” just one day after the PBOC reveals it has added the biggest amount of gold in history in order to “ensure security.” But the biggest irony is that none other than Citigroup made a far bolder case that it is not the ownership of gold but of stocks that is the ultimate act of faith: “investors remain united in their faith in the central banks – if not for their ability to create growth, then at least in their ability to push up asset prices. And yet the limits of that faith are increasingly on display.”

http://www.zerohedge.com/news/2015-07-19/which-bigger-act-faith-owning-gold-or-stocks

Comment:  I happen to like my shiny ‘pet rocks’

Poor Richard…

Some of us log in… (and OUT!) each and every time we visit the Oasis!

😮

The road to hell is covered with good intentions…..and bad ones too!! Thanks for pointing that out. Any time man intervenes it seems to cause a disaster that mother nature must fix. I hope she’s up to fixing this one or man will have to find another planet to destroy!!          All The Best!!………………..Silverngold

removing water storage systems like Dams eliminates deep water where fish can cool off ..Drought cause not only less water but shallow water that heats up and stays hot .Build some water catch basins like deep lakes ….Also stock some algae eating critters as temperatures rise   algae blooms  and fish Gills get infected and cant get oxygen..

Same problem in East Coast Chesapeake Bay where over fishing for what used to  be called junk fish full of bones and oiley called Moss Bunkers or menhaden used for CAT FOOD …It turns out they were the CLEANERS of ALGAE  ,it was their function in Nature in addition to serve as food for larger fish.   Don’t fool with Mother Nature.Harvesting Menhaden caused the Bay to get polluted with Algae ..The excuse for not stopping Moss Bunker Harvesting was a company created 200 jobs for CAT FOOD…on the Bay by harvesting the ALGAE eating fish…Good for CATS who should have been eating Rats …at the expense of everything else….stupid is as Stupid does..

Head scratcher, my ass. They have been spraying tons of aluminum nanoparticles into the atmosphere which drops into our oceans. It’s like vaccinating all sea life, causing ischemic strokes, organ damage, diseases and death. If the fish don’t know their way back to spawn I would call that dementia. (aluminum poisoning) I would suspect like our trees that are dying, aluminum in the soils blocks nutrition from entering their roots (root capillaries) So vaccines given to babies are getting a double dose, breathing and shots. With all the shit out there it’s very clear what these elite f***s are up to. Then of course the dumb asses who scratch their heads, which one ? both ! lets have a beer from an aluminum can ! see nothing, hear nothing, so they can collect their pay checks..!  MG, total dorks.

Well said. Definitely being a gov’t union worker is the best way to go. I was in the Teamsters for a few years when I was in my early days. The biggest problem was they protected the bad workers and failed to reward the good ones. I was told “don’t work so fast, we want some O.T. today”. I just wanted to get the job done and go home.

Thing is, I no longer view the US automakers as anything other than an arm of the globalist/gov’t/crony capitalist structure that has infected the world.

A good read:

http://www.marketwatch.com/story/china-finally-says-how-much-gold-it-has-but-nobody-believes-it-2015-07-17

Pension Shocker: Plans Face $2 Trillion Shortfall, Moody’s Says

Tyler Durden’s– 07/18/2015

The debate underscores a larger problem in America. Almost half of the states in the union are facing budget deficits.

. One option is what we have called the “pension ponzi” which involves the issuance of pension obligation bonds. Here is all you need to know about that option:

‘Solving’ this problem by issuing bonds is an enticing option but at heart, it amounts to what one might call a “pension liability-bond arbitrage.” The idea is to borrow the money to plug the pension gap and invest it at a rate of return that’s higher than the coupon on the bonds, thus saving money over the long-haul. Of course, much like transferring a balance on a high interest credit card onto a new card with a teaser rate (or refinancing a high interest credit card via a P2P loan) this gimmick only works if you do not max out the original card again, because if you do, all you’ve done is doubled your debt burden. As it relates to pension liabilities, this means that what you absolutely cannot do is use the cash infusion as an excuse to get lax when it comes to pension funding because after all, that’s what caused the problem in the first place.