OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

but the metal are rippin’ upwards despite the floggin’

continue……..

Monday never happened, it just got cancelled in Scumland.

Grokking!

wj

secrets of Jupiter may soon be  revealed on our television screens.  It is a reason for all to be immensely proud of this space exploration accomplishment.   In my opinion it is important and refreshing  to reflect on such accomplishments and to set aside, at least temporarily, the negative things we read about the less than perfect political, economic and social aspects of life on this continent and planet.  Best to all.  Equiz.

Jefferson’s best quote!

🙂 wj

https://www.youtube.com/watch?v=6BHbRVKnuLI

Brexit and the Derivatives Time Bomb

Posted on July 1, 2016 by Ellen Brown

snip

Time for a Reset

That may get Italy out of the woods, but the system is clearly broken. A $500 trillion derivatives time bomb poised atop a $100 trillion mountain of debt is not a stable situation. It’s time to push the reset button, but how? Bailouts and bail-ins have been tried and proved wanting. But a debt “jubilee” – simply canceling the debt – would devastate creditors and collapse the massive derivatives bubble.

All else having failed, it may be time to do what should have been done all along: convert “sovereign debt” into “sovereign money.” The “event of default” triggering a derivatives meltdown can be avoided by simply paying the debts with money issued by the government.

A government oppressed by “sovereign” debt is not really sovereign. A sovereign government has the power to issue money and need not go into debt at all. But EU member governments have lost that sovereign power. They are unable to issue their own money or borrow money issued by their own central banks. If they leave the EU, they can get that power back for future expenditures; but their existing debt is in euros, and only the ECB has the power to convert bonds into euros.

In fact that is what it does when it buys government bonds with QE. The problem with QE as currently practiced is that the bonds remain on the central bank’s books, “sterilizing” their effect on the market. The idea is to be able to sell them back into the market should inflation become a problem. But that means the bonds are still counted as debt for purposes of balancing national budgets, forcing continued austerity, cutbacks and privatization. If the bonds were bought back and voided out, national governments would be free to spend again. QE doesn’t need to be unwound by selling bonds into the market. If the money supply grows too large, money can be pulled back with taxes, interest or fees.

The invariable objection to paying off the debt with central bank-issued money is that it would lead to hyperinflation. But would it? Government bonds are already classified as “near money” – so liquid that they are readily exchangeable for cash. Turning them into cash is little different from moving money from your savings account to your checking account. One draws interest and the other doesn’t, but cashing out the savings account doesn’t make you any richer than before. It doesn’t propel you to spend more on goods and services, driving consumer prices up.

If people and governments were incentivized to spend more, however, that would actually be a good thing. Consumer markets need more demand today. The way to stimulate economies is to get money into the pockets of people who will spend it. Demand (money) stimulates supply (productivity). Before QE can stimulate the real economy, it has to make it into the real economy. If the goal of the EU is to hold itself together and avoid a derivatives meltdown, some QE that actually got into the hands of the people could be just the ticket.

more https://ellenbrown.com/2016/07/01/brexit-and-the-derivatives-time-bomb/

Doug Casey On The Next Industrial Revolution

http://www.zerohedge.com/news/2016-07-04/doug-casey-next-industrial-revolution

Ain’t that the truth!!

holy volatility, batman!

gotta love it!

by the way, does anybody know the right way to pronounce “comex?”  i have always seen it written, and thought it was “com-ex” with a short “o” as in “compound.”  a few days ago, i heard someone pronounce it “co-mex” with a long “o” as in “cope.”

FBI Orders All Orlando Records Withheld from Public

coming to you from Lamar Colorado on my way to glacier natl park in Montana.

the open interest in silver is going up. THIS IS NOT A SHORT COVERING RALLY AT THIS TIME. The talking heads are trying to get a break so they can get in. When new longs are coming into the market, it ain’t gonna break. I don’t know who the new longs are, but my guess is fiat coming out of the stock market.

happy holiday to the oasis!

rno

I’m surprised the boys in London weren’t able to reign in silver overnight. Could get interesting.

Just like a new bear market, but opposite. You think prices went too high too fast, and a correction is at hand. You sell something, and end up buying it back higher and you get surprised at more higher highs. (instead of surprising lower lows in a new bear market)

http://finviz.com/futures_charts.ashx?t=METALS&p=w1

Hope you get the chance to just kick back, relax, and enjoy ALL the fireworks tonight. 🙂

Happy 4th July to you and all the folks at the Oasis.

Headed out to my little hometown parade and celebration this morning. More American flags decorating the area than I have seen in years. Some folks are taking pride in our Heritage and Freedom ? Sure hope so, catch up with you later. Will try and get a nap in some time today so I can keep Newtogold company tonight. 🙂

Silver got downright unruly overnight!