Miles Franklin Daily Gold & Silver Summary

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Market Recap for

Friday September 14, 2012


GOLD

$1770.50 Up $3.30

 

GOLD - one year ago today

Down $50.60

 

SILVER

$34.68 No Change

 

SILVER - one year ago today

Down $6.07

 

PLATINUM

$1705.00 Up $25.00

 

PALLADIUM

$695.00 Up $8.00

 

HUI

517.46 Up 14.26

 

XAU

191.97 Up 5.34

 

DOLLAR INDEX

78.84 Down 0.43

 

EURO

1.3135 Up 0.0142

 

DOW

13593.37 Up 53.51

 

SILVER TO GOLD RATIO

51.05 to 1

tableTable of Contents


Click on the Links Below to Scroll to the Articles

 

  • Quote of the Day
  • From David's Desk: Larry, are you still keeping your minions on the sideline?
  • Gold Highlights 
  • Jim Sinclair: In the last few weeks you have gotten coordinated international central bank action of an unprecedented nature. The reaction is to an extremely severe international financial problem beyond even what we suspect. It is without any question QE to infinity.
  • Wall Street Journal: Be Ready for Higher Capital - Gains Taxes
  • Trends Journal: Libya: "Death To America"
  • Future Money Trends: New Interviews with Edward G. Griffin and Andy Schectman
  • Richard Russell: I hear talk that with the Fed's new all-out printing policy; we're heading into not only inflation, but hyper-inflation. This is an interesting and obvious thesis, but I don't think it's going to happen.
  • LeMetropole Cafe: Silver has traded this "out of sorts" way most of the week. Often I can figure out, at least, what is going on. This has me scratching my head because JPM and the shorts have really had their head handed to them.
  • John Williams: His latest data on the economy.
  • ProjectAvalon.net: Expect Israel to attack Iran before this fall's U.S. presidential election.
  • Urban Survival: Israel Preps - Game On
  • News Max: Iran: U.S. Missile Defense Can't Shield Israel
  • Bernie Mitchell: Stocks, Gold, the Dollar and Interest Rates 
  • About Miles Franklin

 

Read more articles from Ranting Andy Hoffman
and Bill Holter on the Miles Franklin Blog site.
Gold is your defense
Private Meetings and Events

Miles Franklin seeks creative ways to partner with its clients to market Precious Metals to nationwide audiences.  If you are interested in sponsoring a Webinar presentation with Andy Schectman, President of Miles Franklin, and "Ranting Andy" Hoffman, Director of Marketing, please inquire via email to aschectman@milesfranklin.com or ahoffman@milesfranklin.com, or via telephone at 800-822-8080.
quoteQuote of the Day

There is one more serious problem with all retirement accounts above and beyond the Sentinel Ruling and the integrity of the custodian.

 

If a systemic failure and lower dollar causes an unwanted increase in interest rates in light of the Fed as the major consumer of treasury paper in the last 18 months, how would the US government fund itself? You can be certain that China and the Middle East are not coming to the rescue. 

 

One way would be to liquidate retirement accounts ($2 trillion USD) and put treasury paper into them to save the poor worker and coming retirees from loss as MSM and MOPE would say.

 

Look around the world at governments either eyeing retirement programs or invading them. You will find it is already happening.

 

Please, at a minimum, stop creating and funding them.
- Jim Sinclair, from Retirement Accounts: Problems Above And Beyond Sentinel Ruling and Custodian Integrity


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daviddeskFrom David's Desk 

David Schectman 

Larry, Are You Still Keeping Your Minions on the Sideline?  

The following was written earlier in the year by technical analyst Larry Edelson:

 

From 4 Moves We Must See Before the Next Bull Run Can Begin

 

-Gold has taken out the December high, which is very positive for the longer term. It confirms that gold is still in a long-term bull market. But that's all it says.

 

To truly break out to the upside, we need to see gold take out the $1,808 and $1,835 levels - preferably on a weekly or monthly closing basis. Until then, gold remains in a very broad trading range that could easily see gold plunge back down.

 

-Silver, as noted previously, needs to take out the $35.85 level on a monthly closing basis. If silver cannot close above that level on Tuesday, February 28, then it is still at risk of a sharp decline.

 

 

He has kept his readers on the sidelines all along and has yet to change his opinions. Meanwhile, gold is up nearly $200 from its low in May and June and silver is up nearly $7 from its June low. And still, Larry has his readers sitting restlessly on the sidelines. Most of the analysts that I follow are very optimistic that gold will easily top fairly soon $1835 gold and $35.85 silver could be passed yet this month. And still Larry's followers sit on the sidelines. None of us are right 100% of the time and it is looking more and more like this was one of Larry's worst calls. If you had heeded his advice and sold earlier this year and are still sitting it out, it didn't help you one bit. Most of us who are "buy-and-hold" investors are in pretty good shape and we won't miss the upcoming significant gains because we never sold in the first place. So what's the big deal if we rode gold down $350 this year if by the end of the year gold is back up to or beyond its high last year at this time? Why trade the market for short-term gains when gold is going to double or triple and all you have to do is buy it and hold it? Patience, patience my friends is a virtue - especially in a bull market. Like Bill Murphy says, You Gotta Be in It to Win It. In this case, it is best not to be a day late.

 

The last four short articles in today's daily present up-to-date information on the dire prospect of an Israeli attack on Iran's nuclear production facilities. It is looking more and more like the attack will take place before the election, with or without US support. I think it best to assume it will and make sure your positions in gold, silver and oil stocks are executed.

 

The opening feature on Sunday's 60 Minutes was an interesting interview with the former chief of the Israeli Mossad, Meir Dagan. Dagan was featured in the interview and he was absolutely against launching an attack on Iran at this time. Just so those of you who think all Israelis favor the war scenario, this is not true. Netanyahu may be a hawk, but there are many in the government and intelligence community who are not. I hope you had a chance to see the 60 Minutes story yesterday. It goes a long way toward disarming those who think all Israelis favor an attack on Iran. Such is absolutely not the case - whether right or wrong, it is not the case. In Israel, as in the U.S., a few people on the top make the decisions for the masses.


 

Sincerely,

 

David Schectman

Miles Franklin

 

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goldhighlightsGold Highlights

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Swiss Metals Assets  

sinclairJim Sinclair (www.jsmineset.com)

In The News Today

September 13, 2012, at 6:16 pm
by Jim Sinclair

  

sinclair angel   

 

My Dear Friends,

In the last few weeks you have gotten coordinated international central bank action of an unprecedented nature. The reaction is to an extremely severe international financial problem beyond even what we suspect. It is without any question QE to infinity. It will spur something, but not what is expected by MSM.

Regards,

Jim

Fed Sets Open-Ended Asset Purchases to Spur Growth; Extends Low Rates Into 2015

By BINYAMIN APPELBAUM

Published: September 13, 2012

The Federal Reserve opened a new chapter Thursday in its efforts to accelerate the economic recovery, saying that it would expand its holdings of mortgage-backed securities, and potentially undertake other new policies, until unemployment drops sufficiently or inflation rises too fast.

The Fed said that it will add $23 billion of mortgage bonds to its portfolio by the end of September and then announce its plans for October as part of a new process that aims to prioritize the Fed's economic objectives.

The Fed also said, in a statement following a meeting of its policy-making committee, that it now expects to hold short-term interest rates near zero until at least mid-2015, extending the forecast it made in January by about half a year.

More...

***

Jim Sinclair's Commentary

Sorry, my naughty side made me do it.

president bush   

 

_____________________________________________________

In The News Today

September 14, 2012, at 11:45 am
by Jim Sinclair

Jim Sinclair's Commentary

Could it be that Romney erred in pre-firing Bernanke?

Remember the picture of the clients of Wal-Mart? They are the people who elect a president, not you and I.

Gold is going to and through $3500.

Obama Erases Romney's Edge on Economy

President Obama has taken away Mitt Romney's longstanding advantage as the candidate voters say is most likely to restore the economy and create jobs, according to the latest poll by The New York Times and CBS News, which found a modest sense of optimism among Americans that White House policies are working.

But while the climate for Mr. Obama has improved since midsummer, and Mr. Romney has failed to shift sentiment decisively in his favor, the poll found that the presidential race is narrowly divided.

With their conventions behind them and the general election fully engaged, the Democratic Party is viewed more favorably than the Republican Party. The poll also found more likely voters give an edge to Mr. Obama on foreign policy, Medicare and addressing the challenges of the middle class. The only major issue on which Mr. Romney held an advantage was handling the federal budget deficit.

More...

Jim Sinclair's Commentary

If you believe this is happening as a protest to a movie, I will sell you a nice bridge from Brooklyn to Manhattan for cash, cheap.

Pravda was more honest under Stalin than MSM in the West today.

West urges end to film protests

14 September 2012 Last updated at 20:40 ET

Western countries have appealed for an end to violent protests targeting their embassies, sparked by a film mocking the Prophet Muhammad.

The EU urged leaders in Arab and Muslim countries to "call immediately for peace and restraint".

The US is sending marines to defend its embassy in Khartoum and has called on Sudan to protect foreign diplomats.

At least seven people died in protests in Khartoum, Tunis and Cairo on Friday and there are fears of further unrest.

US embassies have borne the brunt of the attacks after clips of the film - which was made in the US - were distributed online.

Protest timeline - main flashpoints

middle east   

11 September

1. US embassy in Cairo attacked, flag torn down and replaced with black Islamist banner

2. Mob attacks US consulate in Benghazi, US ambassador Chris Stevens and three other Americans killed

13 September

3. Protesters break into the US embassy compound in Sanaa, Yemen, amid clashes with security forces

14 September

4. Sudanese protesters attack US, German and UK embassies in Khartoum and clash with police. Three killed

5. One person killed in Lebanon in protest at a KFC restaurant

6. Protesters in Tunis attack the US embassy, with a large fire reported and shots heard. Two killed

7. Riot police in Cairo clash with protesters near US embassy. One person killed

More...

Jim Sinclair's Commentary

Here is a thought for your consideration. Romney invited Bernanke to make his move yesterday by pre-firing him.

Jim Sinclair's Commentary

It happened exactly as anticipated, including the monthly characteristic, yet to infinity.

QE to infinity here and there, the USA and Euroland.

throwing money   

 

Has Iran Finally Overplayed Their Hand?

September 16, 2012, at 10:24 am
by Jim Sinclair

 

Dear CIGAs,   

 

First: Coordinated attack against embassies of the West in the Middle East .

Second: Assassination of US Ambassador and personnel in Libyan US Embassy considered an invasion of US territory. Usually in tense spots the ambassador is the ambassador and more. Third: MSM speculation that Israel will Attack Iran.

Fourth: Israel to be used as the pawn for an attack on Iran.

 

Now all that is required for a massive invasion and leveling of Iran is one Israeli jet to wind up the compressors, introduce fuel at 80%, compress to 100% and trigger the afterburners on takeoff. That will be interpreted as Israel's opening attack against Iran and therefore a threat against the Strait of Hormuz. A 25-nation armada has gathered, which means the USA and GB plus a few rowboats. The armada will not wait for confirmation that Iran has been hit or is taking action against the Strait of Hormuz. They would be nuts to wait.

 

Maybe Iran has finally overplayed its hand. If a war before the election to make Iran glow in the dark for the next thousand years is desirable, for many reasons it certainly is now coming.

 

Armada of British naval power massing in the Gulf as Israel prepares an Iran strikeAn armada of US and British naval power is massing in the Persian Gulf in the belief that Israel is considering a pre-emptive strike against Iran's covert nuclear weapons programme.  

By Sean Rayment, Defence Correspondent

10:00PM BST 15 Sep 2012

 

Battleships, aircraft carriers, minesweepers and submarines from 25 nations are converging on the strategically important Strait of Hormuz in an unprecedented show of force as Israel and Iran move towards the brink of war.

 

Western leaders are convinced that Iran will retaliate to any attack by attempting to mine or blockade the shipping lane through which passes around 18 million barrels of oil every day, approximately 35 per cent of the world's petroleum traded by sea.

 

A blockade would have a catastrophic effect on the fragile economies of Britain, Europe the United States and Japan, all of which rely heavily on oil and gas supplies from the Gulf.

 

The Strait of Hormuz is one of the world's most congested international waterways. It is only 21 miles wide at its narrowest point and is bordered by the Iranian coast to the north and the United Arab Emirates to the south.

 

In preparation for any pre-emptive or retaliatory action by Iran, warships from more than 25 countries, including the United States, Britain, France, Saudi Arabia and the UAE, will today begin an annual 12-day exercise.

 

More... 

 

 

Iran says will hit Hormuz, US bases, Israel if attacked

 

TEHRAN - The head of Iran's powerful Revolutionary Guards on Sunday warned of retaliation against the Gulf's strategic Strait of Hormuz, US bases in the Middle East and Israel if his country was to be attacked.

 

General Mohammad Ali Jafari, speaking in a very rare news conference in Tehran, also said that he believed Iran would abandon the nuclear Non-Proliferation Treaty should it be targeted for military action.

 

The warnings underlined the high tensions surrounding Iran and its disputed nuclear program, which Israel has threatened it could seek to disrupt with air strikes, with or without US help.

 

Jafari said the Strait of Hormuz, the narrow channel at the entrance of the Gulf through which a third of the world's traded oil passes, would be a legitimate target for Iran should it be attacked.

 

"This is a declared policy by Iran that if war occurs in the region and the Islamic republic is involved, it is natural that the Strait of Hormuz as well as the energy (market) will face difficulties," he said.

 

Jafari suggested that US military bases -- such as those in Bahrain, Kuwait, the United Arab Emirates and Saudi Arabia -- would also be fair game for retaliation by Iranian missiles or proxy forces.

 

More... 

 

__________________________________________________

Jim's Mailbox

September 15, 2012, at 11:03 am
by Jim Sinclair

Jim,

The NY Times is going to cut pensions for current retirees. I suspect many other large companies will follow. This would be another blow to an economy already teetering on the brink. Millions of retirees may soon go into panic mode if this spreads.

CIGA George

Dear George,

Since I started this have I not said for ten years that the retiree is the most endangered species on the face of the planet?

Nothing has changed.

Jim Sinclair

 

***

 

Jim,

My wife and I are both in our 70's and each have Roth IRAs with 250K+ invested in precious metal stocks. The primary purpose and intent was to leave them to our 2 children for a lifetime annuity, unless we need them for medical reasons.

Regards,

CIGA Phil

Phil,

Live your life to the fullest, and let your children create their own wealth. Whatever is left from your full and happy life is theirs.

For now do not contribute any more funds. If and when the bond market starts to fail under lows, dump those retirement accounts.

Jim

***

 

Cris,

 

The government in the West will consider and probably save you from yourself by taking over your retirement account when and only when the US Treasury market breaks badly. It will be in every headline everywhere when the US Treasury market collapses unexpectedly, probably in 2015 to 2017. If you read a headline, "Unexpected the US treasury market has come under extreme selling pressure," close your retirement account immediately.

 

Jim

 

***

 

Jim

Would u please tell me how the government could take over my 401k plan and make me invest in what they want, like government bonds? I believe this is what you were indicating in your latest blog that I just read.

Thank you,
CIGA Herb

Dear Herb,

By presidential edict like the almost 1000 edict (Presidential orders) that have skirted the legislative process in the past 4 years. It will be MOPEd as saving you.

Jim

 

 

 

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Reliable Financial Advisors

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wsjThe Wall Sreet Journal (online.wsj.com)

Be Ready for Higher Capital - Gains Tax Rates

By CAROLYN T. GEER

September 15, 2012, 9:32 p.m. ET

When it comes to incurring taxes on your investments, it often pays to procrastinate.

waterfall 
Guy Parsons
But with long-term capital gains rates poised to jump at year's end, investors should, at the very least, ready themselves to take action in the months ahead, financial advisers say.

 

Currently, gains from the sale of assets held more than one year are taxed at a rate of 15% for investors in the 25% income tax bracket or higher, and 0% for investors in the 10% or 15% bracket. Those rates are set to expire on Dec. 31 and revert to 20% and 10%, respectively, unless Congress acts.

What's more, a new 3.8% surtax will take effect in January. Passed in 2010 as part of the health-care act, the tax will apply to investment income for taxpayers with adjusted gross incomes of either $200,000 or more (if single) or $250,000 or more (if married), potentially pushing the top long-term capital-gains rate to 23.8%.

Since the final rates are not yet known, "the best thing you can do now is be prepared to act once Congress has made a decision," says Andy Kapyrin, research director at RegentAtlantic Capital in Morristown, N.J.

Among the questions to consider: Will you need to sell assets soon to raise cash or to diversify a concentrated stock position? How long have you held the assets? And how much are the assets likely to appreciate going forward?

Robert Keebler, an accountant in Green Bay, Wis., outlines some hypothetical scenarios:

John bought stock in XYZ Corp. in February. The shares have since appreciated, but from a tax perspective John shouldn't plan to sell them this year because gains from the sale of assets held for one year or less don't qualify for long-term capital-gains tax treatment, but rather are taxed at higher, ordinary-income tax rates (which also are slated to rise next year).

Bill and Mary have combined taxable income of $50,700, putting them in the 15% income-tax bracket and qualifying them for the 0% capital-gains rate. They expect to buy a house next year and will need to sell assets to raise cash. They should plan to take up to $20,000 of long-term capital gains this year, or just enough to push them to the top of the 15% bracket ($70,700 for married couples).

Mark and Sue are retired but not yet collecting Social Security, the taxable portion of which will bump them into the 25% tax bracket. Like Bill and Mary, they should plan to take long-term gains this year to "fill up" the 15% tax bracket. They could then repurchase the securities they sold, effectively getting a "free" step-up in cost basis by raising the purchase price used to figure capital gains or losses in the future.

For taxpayers subject to the 15% capital-gains rate, the analysis hinges more on how long they intend to hold the assets. If they plan to sell assets soon anyway-say, to raise cash, to diversify a portfolio, or simply because they've lost faith in a particular stock-then realizing capital gains this year could make sense if it means locking in a lower tax rate.

However, the benefit of the lower rate could quickly evaporate for longer-term investors, says Mr. Kapyrin. That's because money lost to Uncle Sam today means less money invested in the market going forward, and less chance to benefit from any future appreciation.

Mr. Kapyrin projected the value of two $500,000 portfolios with equal amounts of unrealized capital gains: a "pay-now" portfolio, where the investor realizes all gains this year at a 15% rate, immediately reducing the portfolio's value by the amount of the tax paid; and a "pay-later" portfolio, where the investor realizes no gains this year, keeping his original $500,000.

Assuming capital appreciation of 6% per year and a future capital-gains rate of 23.8%, Mr. Kapyrin compared the portfolios' after-tax ending balances every year for the next 15 years.

The result: The pay-now portfolio won out in the short term, but the pay-later portfolio resulted in higher ending values for all periods longer than 10 years. With a projected capital-gains rate of 20%, the pay-later portfolio pulled ahead after just six years.

If you do plan to sell assets this year, especially if they're stocks that have run up in the past few years, Mr. Keebler offers one reason to do it sooner rather than later.

"I'm going to tell clients who need the money to harvest those gains right now," he says. Why? Because of the potential for a market selloff later this year.

If tax rates do go up, Mr. Keebler says, "there are going to be a lot of people running for the door."

- investingbasics.wsj@gmail.com

 

 


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trendsTrends Journal (www.trendsresearch.com)

Libya: "Death To America"

9-15-2012

by Dr. Paul Craig Roberts    

 

KINGSTON, NY, 14 September 2012 - Try to imagine more deluded reporting than this by America's Presstitute "free press."  For 11 years Washington in pursuit of its rightful hegemony has been sending troops, bombers, jet fighters, helicopter gunships, drones, and assassination teams into seven Muslim countries. Two of the Muslim countries, Iraq and Libya, and perhaps more depending on how you see it, have been overthrown by Washington and left in chaos.

 

Washington's assaults on seven countries have blown up weddings, funerals, kids' soccer games, farm houses, hospitals, aid workers, schools, people walking along the streets, village elders, but the Muslims don't mind! They understand that the well-meaning Americans who love them and are committed to their human rights, are bringing them democracy and women's rights. The million or more dead, maimed, and displaced Muslims are a low price to be paid for liberation by Washington.

 

The Muslims understand that liberation has costs and were content with Washington's liberating violence until some idiot in California produced an anti-Islamic film. This film, and not Washington's predations, set the Muslim world alive with "hate America." 

 

On the symbolic date of September 11, the US ambassador to Libya and some other Washington representatives were assassinated in Libya.  According to the Presstitutes media, the assassins did not kill the Americans because Washington destroyed their country and left them in chaos. The assassins killed the Americans because of an anti-Islamic film for which the murdered American representatives were not responsible.

 

This is the way Washington works and thinks. It is not Washington's slaughter of Muslims and control over their societies and political life that produces blowback. It is independent filmmakers in California!

 

Deluded politicians in Washington, both Republicans and Democrats and, of course, the bought-and-paid-for "experts," brought these forceful rejections of America upon us all. Washington has not only attacked Muslim countries on the basis of concocted lies - weapons of mass destruction, al Qaeda connections, brutal dictators - but also destroyed the secular governments who held the Islamists in check, and prevented their attacks on US representatives and institutions.

 

In Egypt, long an American puppet states, the US Embassy was stormed and the US flag was torn apart. If only this was all. Washington could again purchase the Egyptian government, as it has since Anwar Sadat's assassination. But the ongoing news is that Anti-American protests are not only spreading across the Middle East but erupting throughout the world: Morocco, Sudan, Tunisia, Iraq, Yemen, Iran, Gaza, Bangladesh, Lebanon, London, and even into Israel.

 

The Obama administration is blaming al Qaeda, an Islamist group that the administration is currently supporting in its efforts to overthrow the secular Assad government in Syria and the group that the Obama administration used to overthrow the Libyan government, thus leaving a power vacuum in its place. Having destroyed the protection from Islamist attacks that secular Arab rulers provided Washington, Obama, in a show of force, has sent drones, aircraft carriers, Marines, and Tomahawk missile ships to Libya, raising the prospect that more schools and children's soccer games will be mistaken for jihadi encampments and blown up.

 

Attempting to politicize the turmoil, Presidential candidate Mitt Romney declared that the US needed him in the White House and as president he would provide "...the leadership that America respects and will keep us admired throughout the world."

 

What admiration is Romney talking about? Who are the admirers? In Egypt Muslims marching to the beat of "death to America," have not been deterred by police after three days of protests. CBS reports that "Police continue to fire tear gas in hopes it will deplete the strength of the demonstrators but they [the demonstrators] are proving relentless."

 

Kings Good, Dictators Bad! Unlike the Washington-supported Saudi royal family that absorbs most of their nation's oil income, Qaddafi allocated the oil money to Libyans. In Cynthia McKinney's excellent book, The Illegal War On Libya, Stephen Lendman writes that Qaddafi "wanted Libyans to share in the country's oil wealth, a notion foreign to America and other Western societies. Under his 1999 Decision No. 111, all Libyans received free healthcare, education, electricity, water, training, rehabilitation, housing assistance, disability, old-age benefits, interest-free state loans, as well as generous subsidies to study abroad, buy a new car, help when they marry, practically free gasoline, and more."

 

Why did such a relatively wealthy and egalitarian country need to be "liberated" by Washington and its NATO war criminal puppet state?  

 

What was achieved by overthrowing a government that provided for its people in better ways than do Western governments for the people they govern?

 

The US is the new Rome, and Europe, the UK, Canada, Japan, and Australia are its tributary dominions along with the oil kingdoms.  

 

In his book, Rubicon, Tom Holland describes what it is like to be a dominion of a powerful and ruthless military state:

 

"Prior to the cataclysms of B.C. 146, there had been some confusion as to the precise definition of 'freedom.' When the Romans claimed to be guaranteeing it, what did this mean? ... Roman and Greek interpretations of 'freedom' diverged. To the Romans ... freedom meant an opportunity for the city states to follow rules laid down by Roman commissioners."

 

This is the "freedom" that Washington imposes on the world.  Washington is the �bermensch. The rest of the world is Washington's playground. Ruling as Rome did, Washington installs puppets and relies on their obeisance. 

 

In the end, empire destroys itself. Washington's hubris and arrogance is turning the world against America. Thanks to The Clintons, the Bushes, Cheney, Obama and the neoconservatives, America, instead of being loved or even respected, is hated with a rising passion. The widespread attacks on the imperial power's embassies are only the beginning.

 

As Gerald Celente had forecast, "The 1st Great War of the 21st Century" has begun.

 

Subscribe to the Trends Journal  


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fmtFuture Money Trends (www.futuremoneytrends.com)

FutureMoneyTrends.com Releases New Interviews with Edward G. Griffin and Andy Schectman.

 

Andy Schectman runs Miles Franklin (MilesFranklin.com) and is very knowledgeable when it comes to the markets and gold and silver investments. While at the Casey Summit, Andy warns our listeners of purchasing coins at premiums too far over the going spot price. When it comes to picking a dealer to buy from, don't just go with whichever one just because it was endorsed by a big name like Rush Limbaugh or Glenn Beck because many of those dealers are currently selling their metals at significant premiums in order to pay for those very endorsements.    

  

 

Andrew Schectman on How to Avoid Gold Scams & How a COMEX Default will Change the Bullion Industry
Andrew Schectman on How to Avoid Gold Scams & How a COMEX Default will Change the Bullion Industry

 

Many people get excited about being able to invest in gold and silver, but in the back of their minds, some investors might be wondering how they will be able to sell their metals back into the market when they need to.

 

Andy brings up an interesting tendency that many investors have and that is to act while prices are falling and act when prices are rising. He comments on this as he discusses when he sees his orders pick up and when they slow down. We also discuss with Andy the potential for a COMEX default and what that would mean for the entire bullion industry. 

 

These topics and more are all in our interview and is available now for our members to watch by using this link.

 

Edward G. Griffin Interview

 

G. Edward Griffin - Understanding the Banking Cartel, Interview by FutureMoneyTrends.com
G. Edward Griffin - Understanding the Banking Cartel, Interview by FutureMoneyTrends.com

If you want to truly understand the Federal Reserve, please listen to this interview. Edward explains exactly how this private banking cartel works and what its real purpose is.

 

Below are a few quotes from our interview:

 

"What is the Federal Reserve's purpose? ...It's a banking cartel... the big banks wanted to regulate their own industry.

 

Mr. Bernanke does not believe what he is saying, he works for the banks and that's his whole goal...

 

The current Federal Reserve system is sustainable only in a Totalitarian society.

 

The eastern central banks are more realistic, they know that gold and silver in the vault is going to be much more valuable in their future than a bunch of paper reserve notes.

 

I don't think there's a chance in the world that Federal Reserve notes will exist two decades from now, probably not even one decade.

 

Bullion banks such as JP Morgan and others have an even stronger influence in influencing the price of gold because they are over-committed. They have sold quantities of gold and silver that they don't have.

 

The biggest baffle of all is how the American people can sit still and watch all this happen and not get outraged... They watch it like a deer caught in the headlights..."

 

To watch this interview click here.

 

 


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richrussellRichard Russell (dowtheoryletters.com)

September 14, 2012

 

I hear talk that with the Fed's new all-out printing policy; we're heading into not only inflation, but hyper-inflation. This is an interesting and obvious thesis, but I don't think it's going to happen. First of all, if we approach hyper-inflation, with financial news carried in every newspaper and TV station in the nation, the public will feel it and they'll know about it. And I don't think the public will stand for it. Hyper-inflation is politically deadly. If, for instance, the price of a loaf of bread goes to seven dollars, it would foment a revolution, first in the universities, then in the towns, next in the cities and finally in the whole nation. In the face of this kind of public opposition, the Fed would have to back down. The president would see to that.

 

Secondly, I don't think you can have hyper-inflation in a nation where there are massive bond markets. Think of it: the corporate bond market, the municipal bond market, the city and county bond markets, and the government bond market. I mean you are talking about multi-trillions of dollars worth of bonds. Of course, the Fed can buy bonds in an effort to keep them from collapsing. But the whole bond market? It's too huge for even the Fed to handle and manipulate.

 

So if the Fed keeps printing, the bond markets will decline, and interest rates will rise. At some point, the crashing bond market and surging interest rates will bring on an across the board collapse in stocks, bonds, and everything else. No, I don't think we can have hyper-inflation, but the way the Fed is acting now, we could certainly be moving towards first inflation and then hyper-inflation. The trend would be enough to start the bond markets heading south in earnest.

 

This whole scenario sounds wild and it will be wild. It will be a perfect background for investors to lose money in. It will be a difficult atmosphere for professionals to operate in. It will be an impossible atmosphere for amateurs to operate in.

 

To make it brief, I think the current years in which the Fed promises to open the money spigots wide will be a time when the amateur public (you and I) will do best to sit on the sidelines and observe. The ideal position will be half of your assets in gold or even GLD, and the rest of your assets in a home or in cash.

 

Bernanke is in the fight of his life; it's going to be wild and woolly, and I'm going to be on the sidelines watching the show.

 

You might do the same. The idea now is -- to avoid losing money in a desperate world in which the Fed is out to prove something. It's Bernanke's world -- not mine.

 

Below -- down and down and down goes the US dollar. And the further down goes the dollar, the more dollars it takes to buy an ounce of gold.

  

waterfall   

 

Gold below is rising in terms of dollars. But note the RSI, which is in the overbought area. Of course, if Bernanke continues his highjinks, gold can stay overbought and move higher. But once an item is in the overbought zone, you're treading on very thin ice.  

  

gold   

 

***

 

With the dollar sinking and a potential bear market in bonds on the way, I have to think that it's going to be very difficult to make money in either the stock market or the bond market. Many of the hedge funds are now under-invested, and I expect buying to come in from this source.

 

Surprisingly, gold has not hit 1800 this morning, and frankly, I thought it would. I'm now rethinking my whole stance towards the market and investing, and I haven't been able to come up with a clear conclusion. I've decided to leave well enough alone. I've already got a big position in gold (built up over a decade), which is fine. And as far as stocks, I'm pretty much out of the market except for an initial position in DIAs. I think I'll just sit tight and watch the show for a while. That's the best way to avoid making costly and stupid mistakes.

 

Bernanke thinks by driving up asset prices and depending on the "wealth effect," the man on the street will feel better about the world and start consuming. I disagree. The middle class and US consumers are flat on their backs. They can hardly pay their bills now, and wait until they start dealing with the new Fed-created inflation. I think the public is confused and scared to death with what's happening, and if Bernanke thinks his new tactics are going to help employment and jump-start consuming, he's going to be wrong.

 

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LeMetropoleLeMetropole Cafe (www.LeMetropoleCafe.com)

 

  

9/14 - Gold Advances / Sicko, Desperate JP Morgan Sits On Silver ... SO BE IT!

Silver: DOWN THIRTY CENTS!

Silver has traded this "out of sorts" way most of the week. Often I can figure out, at least, what is going on. This has me scratching my head because JPM and the shorts have really had their head handed to them.

As you well know for some time now, I expect a JPM silver market manipulation scandal to break. Why it has not yet surfaced is beyond me. That is up to the people doing what they are doing, whom I have the HIGHEST respect for. It is THEIR deal and business. A great deal of time and money has gone into this and you will know why, I hope anyway, in the not too distant future.

So, the day is over and not changed all that much from early calls for most of the markets.

The range in gold was from $1765 to $1776. For silver it was $34.20 to $34.75.

What I can say, with a good deal of conviction, that in 40 years of watching, and trading, the markets, nothing is trading so bizarrely as silver is at the moment. In years gone by, I had LIMIT positions at some point, so there is a solid reference point here.

All I know is the physical silver market is tight as can be and that JP Morgan is going into desperation mode. Is that DESPERATION from these arrogant elitists being revealed by the way silver is unnaturally trading? We ought to find out soon enough!

My best shot is that silver will blow through its all-time $50 highs and will double from there sooner than the clueless investment world can imagine. From Clint Eastwood to the JPM dummy in the chair, "MAKE MY DAY."

The AM Fix was $1772.50. The PM Fix rose to $1775.50, really powerful buying after such a rally like yesterday. Enter GOLD CARTEL with a PLAN B calming down of the price and ensuing excitement.

The gold open interest only rose 5594 contracts on yesterday's dramatic rally to 469, 875. That is a pittance for the size of the rally and is CONSTRUCTIVE. And a wowser for the silver open interest. After doing diddly for days, it rose a significant 3680 contracts to 123,402. It is JP Morgan against the investment world and the physical market.

As much as Dennis Gartman and I get on each other, I have a great deal of respect for him and what he has accomplished. This guarded friendship was cemented years ago over a luncheon in Toronto he had with my friend Sprott's John Embry and me...

End of Volcker era P1-4 ...

"The "open ended" nature of yesterday's news from the Fed is obviously manifestly and hugely bullish of gold, and now we simply face the need to buy more and to add to our positions."

 

***

Having been involved and interested in the financial markets for 40 years, the most loathsome, disgusting person I have ever come across is CPM's Jeff Christian. Sadly enough, there is someone almost as pitiful, Kitco's NITWIT Jon Nadler. The guy always puts out negative gold market commentary and has been wrong for the last decade. He is THE dumbest human being I have ever come across...

In The Lead - QE = Questionable Easing? - by Jon Nadler, Sep 14 2012 10:14AM

 

***

 

Breaking: Historic Silver Panic in Progress, Says GATA Sources

 

Posted by Dominique de Kevelioc de Bailleul on Sep 14, 2012 | 1 comment

By Dominique de Kevelioc de Bailleul

It's finally here-the long-awaited run on silver supplies.

Speaking with Alternative Investors Hangout (AIH), GATA's Bill Murphy tells investors, "Just pay attention, right now," because the buying is so heavy in an unprecedentedly tight silver market, we "don't know what will happen here; it's historic."

And investors should, indeed, pay attention to Murphy's latest assessment of the silver market. In July, he said an unidentified European billionaire told him to expect the bull market in silver to resume in late August.

"The fellow I spoke with I've known for years, one of the wealthier men in all of Europe," Murphy told SGTReport in late July [BER article]. "He's got a lot of connections . . . It will be tough for the gold and silver markets [during the month of July], but starting in August they would start to 'go nuts', and they would 'stay nuts' for a long time. . . Big, big moves are coming, starting in August."

After 15 months of a painfully long consolidation, the big move in the silver price began, just as Murphy's source predicted. After briefly toughing the low $27 level, silver has soared more than $7 within three weeks, a gain of approximately 27 percent, or an annual compound rate of 6,500 percent!

Reminiscent of Andrew Maguire's demonstration to the CFTC of his intimate knowledge of JP Morgan's nefarious activities in the silver space, Murphy believes his source is well placed and able to leak accurate information to investors as it comes available. Hours after alerting media of Maguire's meeting with the CFTC, Maguire and his girlfriend were attacked by a would-be assassin with a speeding automobile.

Moreover, the absence of King World News' anonymous London trader has fueled speculation that Anonymous has moved on to Bill Murphy, who may also inherit DOS (denial of service) attacks following leaked information published by King world News.

"Because of my sources . . . when . . . this was in July, that gold and silver were going to base, [then] take off before the end of August and go to all-time highs, much higher, and that's what's happening," Murphy tells AIH.

Another one of Murphy's sources told him the silver market is so tight that the poor-man's gold could touch $100 in another mini mania replay of the Aug. 2010 to April 2011 bull run that took silver from $17.50 to pennies shy of $50-a near-triple within eight months.

A similar move today, off $26.50 baseline support, equates to a target price of $75, but, according to Murphy, this next move in the silver price could eclipse that exciting jump which began in the summer of 2010-both in amplitude and time frame.

"I have other sources tell me the silver market is as tight as they've ever known in history," he says. "I expect silver to go towards 80 [dollars] to 100, quickly. I know that seems like a big thing, but that's what I think.

"All I know is: the physical market, if you want to buy silver in size, is the most difficult in history. These are from my best sources. We've been right on everything so far; now, we'll see what happens."

Though moves of that magnitude, suggested by Murphy's source, may appear to newcomers to the silver market as hyperbole, but, because of the supply-demand dynamics of a heavily fettered silver market, the extent of an upward price adjustment may well become an inverse multiple of the extent of the price suppression.

In the case of silver, the latest U.S. Mint activity report reveals a 191:1 ratio between the number of silver and gold ounces sold at the Mint. Taking into consideration the ratio of silver and gold available in Mother Earth is estimated at 12:1 (according to the latest mining statistics), monstrous moves in the silver price expected by Murphy appear very reasonable.

And if the gold (and silver) cartel continues to buck Gresham's Law, nature will indeed take its course-a consequence JP Morgan would like, desperately, to avoid.

"The gold cartel, JP Morgan, is trying to suppress us, but if I'm right, there's a big scandal coming regarding JP Morgan and the silver market manipulation escapades," Murphy says.

"It's going to be something like the LIBOR scandal. I've been talking about this for months, as you well know. We'll see what happens."

Without identifying the extent or exact nature of the scandal, Murphy has said in previous interviews he suspects many banks have defrauded customers through the offering of allocated gold and silver accounts, which, may, in fact, not exist.

And those affected may be large Asian and other institutions, which could suddenly insist delivery of their metal-metal not available for sale at today's prices.

For the banks to make good on deliveries, much higher prices are needed to draw sellers out. In the case of silver, the price presumably must at least catch up to gold's double from its 1980 high of $850 as a price level that could draw sellers to market. A double in the silver price, from its high of approximately $50 in Jan. 1980, suggests at least a $100 handle for the white metal could bring in the sellers-but maybe not. The market for silver has been dysfunctional for many, many years.

"I know what should happen behind the scenes," Murphy ends the interview. "I don't know if it's going to happen. If it [a stop to JP Morgan's scheme] doesn't, it will come out in some other way, and it will blow peoples' minds."

Read more: http://www.beaconequity.com/breaking-historic-silver-panic-in-progress-says-

gata-sources-2012-09-14/#ixzz26Siz9Lb8

 

-END-

 

***

 

Folks,..

 

I don't want to sound sensationalist but yesterday was about as big as it gets,..

 

When Hitler marched his troops into Poland, there was no turning back, War had begun,.. For anyone sat at home in Scarborough, I don't suppose on that particular day anything changed that much,.. Pints were still flowing in the same pubs, birds were still singing in the same fields,.. Jo Six Pack still did whatever he'd done the day before most likely,.. But in reality his life had changed irreversibly,.. And in the months and years ahead his life and those of all his friends and colleagues would change incomprehensibly,..

 

Yesterday was no cannon crack initiating World War III, thank goodness, but there was a decision/a determination set in motion that may have implications some would argue could be just as great!..

 

The US Federal Reserve announced that they are to start an open ended Quantitative Easing Program, where without the limits set out in QE1 and QE2 before, they will essentially monetize at will and to all intents and purposes quite possibly indefinitely,.. I MAKE NO BONES ABOUT THIS, I truly think this is the beginning of the last chapter for the US Dollar Standard,.. Debasement is about to accelerate wildly and it will have tremendous repercussions on all of our standards of living,..

 

From reading some of the commentary, but please don't quote me, it seems the plan is to monetize an additional $40 bln a month to begin with,.. Whatever the actual figure, my guess is that within a year that will have likely moved up to $100 Bln, then $200 Bln 6 months later etc. etc.,..

 

How ironic that yesterday marked the 5-year anniversary of the collapse of Northern Rock,.. The start of this entire 'Chain Reaction',.. 5 long years and the cheques are just getting bigger and more frequent,..

 

The system is truly horribly broken,.. It seems the only thing left to the leaders of this irreparable financial model is a perverse and open-ended muck spray of financial gasoline to keep the raging fires burning,..

 

In the past they were limited with how much gasoline they could/would spray,.. It was no accident yesterday, that that boundary of restraint has just been lifted!..

This is all rolling out as we here at 'The Bridge' have long expected,..

Protection lies in Gold, Silver and Agricultural Land,..Yours aye,..Rich (Live from 'The Bridge of the Silver Rocket Ship')

 

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statsShadow Stats (www.shadowstats.com)

No. 470: August CPI, PPI, Retail Sales, Industrial Production

September 14th, 2012

 

* Fed Easing Aimed at Propping Banking System, Not Boosting Economy
* CPI and PPI Headline Inflation Highest Since June 2009
* Headline CPI Held at 0.6%, Instead of 1.0%, Due to Intervention Analysis?
* August Year-to-Year Inflation: 1.7% (CPI-U), 1.7% (CPI-W), 9.3% (SGS)
* Retail Sales Showing Consistent Pattern of Overstated Headline Activity Being Revised Lower in Following Month
* Monthly Production and Real Earnings Turn Down

 

Subscribe to ShadowStats.com for read the full report

 


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avalonProject Avalon Forum (projectavalon.net)

Expect Israel to attack Iran before this fall's U.S. presidential election.

From http://www.onenewsnow.com/national-s...trike-imminent (and other sites):

 

David Rubin, a U.S.-born Israeli author and terrorism expert, expects Israel to attack Iran before this fall's U.S. presidential election.

 

The Israeli people continue to prepare for what many believe will be the long-anticipated airstrike against the Iranian nuclear threat. Polls show that while most Israelis agree on the need to stop Iran's nuclear program, a majority of Israelis would prefer that someone else do it. However, 70 percent of the country does not believe U.S. President Barack Obama will be that someone else.

 

David Rubin is the former mayor of the Israeli city of Shiloh and author of The Islamic Tsunami: Israel and America in the Age of Obama. He believes Israel will have no choice but to go at it alone -- before November 6.

 

"Obama has been probably the most hostile American president towards Israel in American history," Rubin observes. "I think that Israel will strike before the elections, when Obama would not come out strongly, at least not publicly against Israel for launching such a strike."

 

And the expert notes that a pre-election strike could benefit Republican challenger Mitt Romney.

 

"Clearly Romney would come out strongly in support of Israel for launching such an attack," he asserts. "Obama wouldn't be able to be seen as less supportive. Romney coming out strongly in favor of an Israeli pre-emptive strike after the strike has actually happened would be seen as the much stronger pro-Israel candidate, which he is."

 

He concludes that would be a win-win political situation for Israel.

Here's the YouTube version, if you prefer that:

 

Here's the Youtube version, if you prefer that:

 

ALERT: (9/11/12) An Israel Attack on Iran is Imminent! Obama Deal is Only Variable!

 

 

ALERT:  (9/11/12) An Israel Attack on Iran is Imminent! Obama Deal is Only Variable!
ALERT: (9/11/12) An Israel Attack on Iran is Imminent! Obama Deal is Only Variable!

 

Source: http://www.youtube.com/watch?v=Oh0X6KX4AJc


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urbansurvivalUrban Survival (www.urbansurvival.com)

Israel Preps - Game On

While the US has initiated some level of response, redirecting a couple of Navy ships to the Libya area, we still note the US reported ship deployments are at very "thin" levels:  Only four carriers out and only two amphibious assault ships.

More Curious:  Canada has just extended the deployment length possible for Canadian Forces members...Effective: 15 Sept.  which is what?  Odd timing, but the drum beat gets louder.

 

But Israel?  A different story entirely.  One reader email sums it up this way:

"My brother and his family live in Jerusalem [redacted] and his office is close to one of Israel's largest underground military bases. He called me last night which is very unusual - usually it is email. He called to tell me that he is sending his family back to the US immediately due to what he is seeing happen within the last week and what he is being told by his military contacts in both the Israel and US military.

 

He said he is seeing with his own eyes military movements the likes of which he has never seen in his 20+ years in Israel. What he called a massive redeployment and protective tactics of forces is underway. Over the last two days he has seen anti-aircraft missile deployments throughout the Jerusalem area including 3 mobile units that he can see from his office windows. In addition, he has seen very large Israeli armored columns moving fast toward the Sinai where Egypt has now moved in Armor.

 

There are reports of the top military leaders meeting with Israel's Sr. Rabi which is something that has happened preceding every prior military campaign. His admonition is to watch carefully and pray for Israel and its people. He is convinced that barring something extraordinary Israel will attack Iran - with or without the US - and very soon.

 

It is the belief in Israel that Obama does not stand with Israel but with the Arab countries. He has told me before that Israel will saber rattle from time to time but that this time is very different from what he is seeing and hearing. He was at the Wailing Wall 2 days ago and there were hundreds of IDF soldiers there. As he was leaving he passed at least 20 military buses full of soldiers in route to the wall. He has never seen this before either.

 

My brother is not an alarmist by any means. When he talks like this it gets my attention for sure and usually I find he knows more than he shares. There are reports that Israel is asking Obama to come to Israel immediately but they are being answered with silence. My opinion is that I see the making of the perfect storm with Yom Kippur happening on the 25th."

 

Continue reading on UrbanSurvival.com 

 

 

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newsmaxNewsMax (www.newsmax.com)

Social Security Payouts Hit All-Time High; Iran: Our Missiles Can Beat US Defenses

Sunday, 16 Sep 2012 04:16 PM

By Special From Newsmax's Most Informed Sources

Iran: U.S. Missile Defense Can't Shield Israel

A top Iranian military official said Iran is set to unveil a "domestically produced" cruise missile capable of reaching Israel and being launched from land, sea, and air.

And he dismissed the U.S. deployment of missile defense systems in the region, saying they could never overpower Iranian missiles, Iran-based Press TV disclosed.

Dubbed "Meshkat," the Iranian cruise missile was announced by Deputy Defense Minister Mehdi Farahi. With a claimed range of 1,242 miles, the missile could easily reach Israeli cities, including Jerusalem, according to the Tehran-based Mehr News Agency.

Farahi told Press TV that the weapon will serve as "the upper hand of the Armed Forces of the Islamic Republic of Iran."

"The Meshkat cruise missile will have submarine-, ground- and air-launched properties and could also be fired from a warplane."

Farahi warned that deployment of an American missile defense system aimed at thwarting Iran won't succeed.

"We hope that nothing would happen. But if any confrontation is to take place, they will see how their claims will turn out to be groundless," he said.

The commander of the army's air defense force said earlier that Iran has built about 30 percent of a missile defense system it is developing in place of the Russian S-300 system Moscow refused to sell to the Islamic Republic.

The Iranian government has been continuing its bellicose rhetoric against Israel. In August supreme leader Ayatollah Ali Khamenei once again threatened Israel with destruction, saying he was confident "the fake Zionist [regime] will disappear from the landscape of geography."

 

Read the full article at NewsMax.com


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mitchellBernie Mitchell (www.feargreed.com)

Stocks

Stock traders lined up on Thursday waiting for their sugar high. Ben Bernanke didn't disappoint. By promising an endless supply of money printing (buying mortgage backed securities, potentially forever into the future) stocks exploded to the upside. What we thought would be a "buy the rumor, sell the news" event, took the market by surprise. However the perpetual "fly in the ointment" -- on any money printing scheme -- was the destruction of the Dollar, and a rally led by the gold and silver stocks. We've been obviously early in calling for a market correction, but when the high wears off the correction will come -- and it wont be pretty. However, because of the huge bullish momentum that's taken place, patience is needed before the final top is in. Good support in the SPY is 137.53. From there, another assault on the high is likely. A cyclical low is due around Sept 27.

 

Gold

Gold stocks (and silver) led the rally, with the XAU topping off a 35.6% rally in 8 weeks. Volume has simply not kept pace with price, and our Accumulation/Distribution model suggest a modest setback in the 10% - 13% range is likely over the next 8 weeks. The potential is for GDX to reach 55.20, before correcting to a maximum 48.02, (XAU 168.78 equivalent) which will set up a major buying opportunity for a move to new highs.The shares continued to lead the metal, recording a 27 week high vs bullion.

 

Dollar

The victim of Bernanke's largesse was a precipitous fall in the Dollar, to UUP 21.57, a fall of 2% on the week - negating the gain in stocks in purchasing power. Massive support in the UUP 21.35. Because of the swiftness of the Dollar's fall, a huge snap-back rally can happen at any time, on fresh bearish news out of Europe.  Maximum Dollar (UUP) rally is 22.35 (the point of the breakdown).

 

Interest Rates (TBT)

Bernanke's hope for long rates to decline simply did not work, as Treasuries were not included in his bond buying scheme. The result was a 10% bump in TBT rates by Friday's close. Next higher levels 17.41, 17.97, 18.57 and eventually 21.10.

 

Bernie Mitchell

www.feargreed.com

 


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aboutAbout Miles Franklin

Miles Franklin was founded in January, 1990 by David MILES Schectman.  David's son, Andy Schectman, our CEO, joined Miles Franklin in 1991.  Miles Franklin's primary focus from 1990 through 1998 was the Swiss Annuity and we were one of the two top firms in the industry.  In November, 2000, we decided to  de-emphasize our focus on off-shore investing and moved primarily into gold and silver, which we felt were about to enter into a long-term bull market cycle.  Our timing and our new direction proved to be the right thing to do.

We sell over $100 million a year in gold, silver, platinum and palladium.  We are rated A+ by the BBB.  We are recommended by many prominent newsletter writers including Doug Casey, David Morgan, Jean Paul Louvet, LeMetropole Caf�.  Our reputation for service, education, quality product and pricing is outstanding.

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