Thursday, May 27, 2010

World Collapse Explained in 3 Minutes

The sad thing is, this isn't a joke, still like the guy at the end of the video says, it's called laughing while you sink.





- Nathan McDonald, CEO of Cash2Riches

Oh no Jose!

Politically correct? No. True? Yes.





- From JSMineSet.com

Gold Is The Money That Can Be Trusted

Eric King: This was from Jim Sinclair’s eblast today and I thought KWN viewers should take note of it (hat tip). Jim Sinclair: What ever the OTC derivatives do not do to the Investment Banks litigation will. Litigation is both civil and criminal. No civil suit based on derivative can ever go to judgement by jury because it will be a stone loser. Even a bench trial would present significant risk to the defendant. OTC derivatives are the basic problem about which nothing has been done and nothing will be done. That secures the final end which is gold as the only standard of value, measure and storehouse of value functioning as a medium exchange which is the complete description of what money is.


Gold is the money that can be trusted as debt is being added to debt in a pharisaical plan to cure a debt problem.


The fiat system is cooked, and there is simply no good paper currency.


The face of this world is about to change. Sir Richard Russell is correct.


Please protect yourselves because you must. I can point you in the right direction. You must take the action.


http://www.bloomberg.com/apps/news?pid=20601103&sid=apaq8bkKnrqw



Lehman Sues JPMorgan to Recover Billions of Dollars (Update1)

By Linda Sandler and David McLaughlin

May 26 (Bloomberg) -- Lehman Brothers Holdings Inc. sued JPMorgan Chase & Co. to recover tens of billions of dollars in “lost value,” accusing the bank of precipitating its downfall and preventing it from winding down in an orderly fashion.

JPMorgan, which was Lehman’s main short-term lender before its September 2008 bankruptcy, helped cause the failure by demanding more collateral as credit markets tightened during the financial crisis, Lehman said in a complaint filed today in U.S. Bankruptcy Court in New York.

The lawsuit follows a report by Lehman examiner Anton Valukas, who said in March that Lehman might have grounds for suing JPMorgan and other banks.

“On the brink of LBHI’s bankruptcy, JPMorgan leveraged its life and death power as the brokerage firm’s primary clearing bank to force LBHI into a series of one-sided agreements and to siphon billions of dollars in critically needed assets,” Lehman said in the complaint.

Lehman didn’t specify in the complaint an amount for the losses it is claiming as a result of JPMorgan’s actions.

“The lawsuit is ill conceived and the costly litigation will cause a further drain on the limited resources available to the Lehman bankruptcy estate,” Joe Evangelisti, a JPMorgan spokesman said.

“As the examiner’s report makes clear, it was the ill- advised decisions of Lehman itself and its principles to take on perilous leverage and to double-down on subprime mortgages and overpriced commercial real estate and not any conduct by JPMorgan that led to Lehman’s demise and the enormous losses to its various constituents,” he said.

The case is In re Lehman Brothers Holdings Inc., 08-13555, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

Wednesday, May 26, 2010

Inflation on its Way

"Don’t be concerned, this is not until after 2011, and it is one full pound of each."





- Jim Sinclair, JSMineset.com

Tuesday, May 25, 2010

Eric Sprott To Buy $235 Million In Gold, Or Over 6 Metric Tonnes, As Part Of PHYS Follow-On Offering

"Eric Sprott's Physical Gold Trust (PHYS) has just announced it is issuing a follow-on offering of 18 million trust units, with an overallottment option of another 2.7 million, for a total, including the greenshoe, of 20.7 million new units. The proceeds, as expected, will be used to purchase physical gold bullion to satisfy unprecedented investor demand for a safe haven away from the central bank printing press madness. At a post-announcement per unit price of $11.40, this means Sprott will buy $235 million worth of gold in the open market. At today's gold price of $1,200 this translates into 195,833 troy ounces of gold to be acquired, or roughly 6 metric tonnes. Somehow, we don't think the LBMA will be too thrilled with this extraction of physical gold out of the controlled synthetic precious metal ponzi system."

Tyler Durden - Zero Hedge

Monday, May 17, 2010

The U.S Dollar is Next

"The present relationship, although short term, is that gold is moving in the same direction, of the US dollar. That means that as the US dollar falls markets interpret that as a relief of the euro crisis which results in longs taking profits and shorts establishing positions in gold. A softer dollar today as a product of short covering in the euro for very modest technical and fundaments tidbits means temporarily lower gold as the euro crisis has caused a rush to gold by euro holders. That relationship will stop, but the euro must cease first.

As I explained to you in detail, the next target of credit default derivatives after battering the euro is to batter the US dollar.

After the euro is done within a few sessions the relationship between the dollar and gold will return to inverse in a very big way. This I assure you. With more than 50 years in markets you learn a few things about the madness that goes on."

- Jim Sinclair

Saturday, May 15, 2010

Hold your Gold!

"The very temporary MOPE illusion right now is that the most stable base of currencies in the pyramid scheme collapse is the US dollar and therefore where you should flee for safety. Unfortunately the sheeple who fail to study history don’t understand that gold is the only currency that has no liability and cannot be printed by the kingmakers. The writing is on the wall and this is it! Do not trade away your insurance for speculation. Hold your gold in hand and not in paper promises."

Looks about right

A picture is worth a thousand words.

Thursday, May 6, 2010

Physical market has smashed gold paper, Sinclair tells King World News

"Eric King of King World News today got a most incisive 12-minute interview out of Jim Sinclair, chairman of Tanzanian Royalty Exploration, proprietor of JSMineSet.com, and America's "Mister Gold," in which Sinclair remarked, among other things:

-- Physical demand for gold has overwhelmed paper gold selling five times in the last two weeks and the cash market will run the gold market

-- Gold is now the leading currency.

-- While the bankruptcy of Greece is convulsing the financial markets, the bankruptcy of California is four times worse.

-- All states and nations will be bailed out by central banks with "qualitative easing to infinity."

-- The continuing pessimism about gold's prospects is a guarantee of higher prices.

-- The decline of currencies may produce a "Weimar effect" on equities, pushing them up.

-- Confidence in government currencies can evaporate overnight.

You can find the interview with Sinclair at the King World News Internet site here:"


http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/5/6_Jim_Sinclair.html

Tuesday, May 4, 2010

Chicago Tribune in 1934

This cartoon was in the Chicago Tribune in 1934. Look carefully at the plan of action in the lower left corner.

Most of the people running the government don’t remember 1934 because they were even born yet. Apparently they didn’t get history in school.

Sunday, May 2, 2010

Schiff: U.S. Is Next Greece

"Peter Schiff, president of Euro Pacific Capital, says what's happening in Greece is only a prelude to what will soon be happening in America."