* In Aurum Securitas *
Modern economics is not rocket science.
In fact, it's not science at all. It's a game, a confidence game.
Once paper passed for money, economics became an elaborate
shell game designed to hide the fact paper had been substituted for silver and gold.
The shell game is called "Where's The Money?"...
The answer is simple, it's not there.
Jan 10, 2013
Aug 19, 2012
Mar 25, 2012
Caution!! Tungsten filled Gold bars
This from ABC Bullion:
"Many pundits in the gold commentary space have commented on tungsten filled gold bars for many years, most notably Jim Willie, whilst the following does not prove his theories that US Treasury gold is compromised, it certainly makes the case more compelling.
ABC Bullion received the following email from one of our trusted suppliers this week.
Note: It was not ABC Bullion that purchased this bar, the email and photos were sent to us as a general warning. I xxxx'ed out the city's name to avoid any second guessing as to the name of the dealer.
19/03/2012: Attached are photographs of a legitimate Metalor 1000gm Au bar that has been drilled out and filled with Tungsten (W). This bar was purchased by staff of a scrap dealer in xxxxx, UK yesterday. The bar appeared to be perfect other than the fact that it was 2gms underweight. It was checked by hand-held xrf and showed 99.98% Au. Being Tungsten, it would not be ferro-magnetic.
The bar was supplied with the original certificate. The owner of the business that purchased the bar only became suspicious when he realized the weight discrepancy and had the bar cropped. He estimates between 30-40% of the weight of the bar to be Tungsten. This is very worrying and reinforces the lengths that people are willing to go to profit from the current high metal prices.
Please be careful."
Dec 26, 2011
Ron Paul: The Movie
Labels: Ron Paul
Dec 23, 2011
An Introduction to Austrian Economics with Israel Kirzner
Here he speaks at a Future of Freedom Foundation event on December 21, 1996 and provides a good general overview of Austrian Economics, touching on the concepts of imperfect knowledge, the origin of entrepreneurial motive, spontaneous order, and the "fatal conceit" of attempting to centrally plan economic orders.
Sep 17, 2011
Road Map to Sound Money: A Legislative Hearing on H.R. 1098 and Restoring the Dollar
Sep 12, 2011
Professor Antal Fekete outlines the gold-suppression, bond-support scheme
"The government has the following desiderata:
1) To have a floor below the bond price.
2) To have a ceiling above the gold price.
"Indeed, without such a floor and ceiling, the bluffing epitomized by check-kiting could be called, and the international monetary system would unravel.
"To promote these desiderata, the bond and the gold markets are manipulated. It is true that the Treasury and the Federal Reserve prefer not to play a direct role in it. Speculators are induced to do it for them through the lure of risk-free profits.
"Simply put, the role of the derivatives market is to make phantom bonds available to buy, and phantom gold available to sell, for the benefit of speculators. It is no problem to make speculators want to buy phantom bonds. They have the incentives. They know that the Federal Reserve is going to buy, rain or shine. This offers a risk-free opportunity for profits. All the speculators have to do is to pre-empt Federal Reserve purchases -- that is, to buy beforehand. So let them.
"The tricky part is how to make speculators want to sell phantom gold. This problem is solved by setting up a gold mine as a front, beefing it up as the world's largest gold-mining concern, and letting it introduce a phony hedge plan."
"Clandestine government policy to manipulate the bond and gold markets is revealed by statistics on the number of outstanding contracts in derivatives, showing an inordinate open interest in bonds on the long side and in gold on the short side. Neither has any rhyme or reason to exist, in view of the underlying economic reality. What is more, the long interest in bond and short interest in gold derivatives are increasing exponentially, far outpacing the amount of bonds in existence and the amount of gold available for delivery.
Moreover, there is an extreme concentration of derivatives in the hands of three or four firms -- namely, concentration of long bond and short gold positions."
Part I is headlined "When Atlas Shrugged: The Lure and Lore of Risk-Free Profits" and it is at 24hGold HERE
Part II is headlined "When Atlas Shrugged: Gibson's Paradox and the Gold Price" and it is at 24hGold HERE
Sep 11, 2011
King World News Weekly Metals Review
Labels: Dan Norcini
Sep 1, 2011
Egon von Greyerz talks to James Turk
Aug 20, 2011
Mystery and Intrigue in the Gold Market