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Turkey Hit By Bank Runs, Currency Panic As Locals Sell Their Cars And Houses To Buy Gold While Lira Implodes
"I think it is the best investment right now so I converted my dollars to buy gold."https://t.co/KqioaPjbOt
— Infinite Unknown (@SecretNews) August 16, 2020
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When the SHTF you won’t be able to buy physical gold & silver and you can kiss your ETFs GOOD-BYE!
And as I’ve told you many times over all these years…
“Only physical gold and silver are real, everything else will turn out to be an illusion.”
Price Of Physical Gold Decouples From Paper Gold
— Infinite Unknown (@SecretNews) March 15, 2020
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Regierungsplan: Deutsche sollen Gold nur noch bis 2000 Euro anonym bekommen
— Infinite Unknown (@SecretNews) July 16, 2019
H/t reader U. B.
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Please support I. U. … if you can …
Following the Panic of 1907, John Pierpont Morgan was called to testify before Congress in 1912 on the subject of Wall Street manipulations and what was then called the “money trust” or banking monopoly of J. P. Morgan & Co.
In the course of his testimony, Morgan made one of the most profound and lasting remarks in the history of finance. In reply to questions from the congressional committee staff attorney, Samuel Untermyer, the following dialogue ensued as recorded in the Congressional Record:
The yellow metal also makes a habit of performing poorly when the stock market is doing well. But gold is the ultimate store of value, according to precious metals expert Ronan Manly of Singapore’s BullionStar.
“What this means is that gold retains its purchasing power over long periods. Gold’s purchasing power is not eroded by inflation as it is an inflation hedge,” the analyst told RT. “In contrast, fiat currencies such as the US dollar are not stores of value. Fiat currency purchasing power is consistently eroded by inflation, and over time fiat currencies, such as the US dollar, lose nearly all of their purchasing power relative to gold.”
Thanks to the Fed and Central bank intervention, sales of Gold and Silver Eagle sales declined sharply over the past year. Yes, it’s true… precious metals investors have lost interest in gold and silver as the stocks, real estate, and crypto markets reached new highs in 2017. So, who wants to continue purchasing gold and silver when many cryptocurrencies were experiencing 10% increases in a day.
H/t reader squodgy:
“Another sign that the herd is being herded…….
Paper money and electronic money have a questionable and thus insecure lifespan.”
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The U.S. gold exports to Hong Kong surged in February consuming nearly all of the domestic gold mine supply. According to the USGS recent Gold Mineral Industry Survey, February gold exports to Hong Kong more than doubled compared to the prior month. This was an interesting increase in gold demand from Hong Kong as the market price increased slightly month over month.
Not only did gold exports to Hong Kong jump, but total U.S. gold exports also increased 40% from 36.1 metric tons (mt) in January to 50.4 mt in February.
— Enrico Ivanov ☦ (@Russ_Warrior) April 25, 2018
By Peter Schiff March 27, 2018
Last Thursday, the Dow Jones fell 724 points. It followed up with a 424 point decline on Friday. Meanwhile, the Nasdaq fell 2.43% Friday.
Most analysts blamed the plunge on fear of an all-out trade war between the US and China. But the Federal Reserve rate hike on Wednesday also likely played a part in the stock market decline. The markets don’t like the prospect of having their easy-money punch bowl taken away.
So, could we be on the verge of a gold breakout as stocks break down?
In his latest podcast, Peter Schiff said he believes we are already in a bear market. Technically, analysts don’t start talking bears until the stock market declines 20%. But as Peter pointed out, you have to drop 10% before you get to 20.
So, if this is a bear market, if we ultimately go down by more than 20%, then this is the bear market right now. It’s only a correction if it doesn’t turn into a bear market. But if it becomes a bear market, it’s been a bear market the entire time, and I think we are in a bear market now.”
The mainstream analysts continue to assure us that everything is fine. The fundamentals haven’t change. Peter said in a sense, they’re right.
Will physical gold and silver prices ever break free of manipulation and price suppression?
Renowned gold expert Andrew Maguire with Tom Coughlin, who is CEO of Kinesis that will be rolling out a gold backed currency in the fall, both say yes. So, what is it about? Coughlin explains, “It’s actually classified as a monetary system, and it’s called Kinesis. The reason we call it Kinesis is that it actually stimulates the flow of money. We see this as reintroducing the gold and silver standard through this monetary system.”
Maguire says there will be actual precious metal backing it up. Maguire says,
H/t reader eric:
She’s convinced cryptos are bankster created. They are pushing people to go there.”
I’ve warned many times that the grid is predicted to go down (and it will go down!) and that we will be living in 1850 for quite some time!!!
There will be no cryptos around by then.
People will fight over the last piece of dry bread in the street.
I knew we would have to face and live through these coming terrible times and I am continuously preparing for what is coming.
I’ve set up this website in 2008 to warn you about what is coming and to help all of you to get prepared as well.
Next up: Planned financial/economic collapse & hyperinflation > planned all-out civil war in the US and Europe > planned WW3…
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Russia is adding gold to its reserves at the fastest pace in 12 years …and dumping US Treasuries at the fastest pace since 2011.
The Central Bank of Russia (CBR) has been increasing its holdings of gold every month since March 2015. The country is currently the sixth-largest gold owner after the United States, Germany, Italy, France and China.
According to the CBR, gold reserves spiked to $455.2 billion between March 2 and 9 hitting a historic high not seen since September 2014.
“Our international reserves increased by $2.9 billion or 0.6 percent in a single week, mainly on the strength of positive re-evaluation,” said the regulator.
According to World Gold Council data, last year the CBR became a world leader in stockpiling gold.
The bank has more than doubled the pace of its gold purchases, statistics showed. It has been increasing Russia’s gold reserves to meet the goal set by President Vladimir Putin to make it less vulnerable to geopolitical risks. The Russian gold cache has increased by more than 500 percent since 2000.
And while the Russian central bank is buying gold with both hands and feet, it is dumping US Treasuries at the fastest pace for a January since 2011…
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In the west there is “helicopter money.” In Russia, they do “airplane gold.”
Gems, precious metals and diamonds worth hundreds of millions rained over Russia’s coldest region when a Russian plane with ten tons of gold, platinum and diamonds lost a significant part of its cargo upon taking off from an airport in the Russian region of Yakutsk, famous for its rich natural resources and diamond deposits.
The precious rain then continued as the aircraft gained height.
The Nimbus Airlines AN-12 cargo plane hit problems during takeoff, resulting in a breach in the hull that allowed its precious cargo to fall all over the runway.
H/t reader eric:
Now that IS funny.”
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Oh, what was Kudlow’s religion again?
Hours after accepting President Trump’s offer to become the new director of the President’s National Economic Council, CNBC personality Larry Kudlow returned to his old stomping ground Wednesday afternoon to answer a series of softball questions lazily lobbed by his (soon-to-be-former) colleagues.
About mid-way through the interview, Kudlow was asked about Trump’s views on the dollar. Followers of currency markets will remember the burst of volatility that Treasury Secretary Steven Mnuchin accidentally unleashed when he appeared to disavow the US’s longstanding commitment to its “strong dollar” policy.
First official lie as head of NEC
*KUDLOW: NO REASON TO BELIEVE TRUMP DOESN’T WANT STRONG DOLLAR
— shinebox (@ljzaz) March 14, 2018
His response? “I have no reason to believe the president doesn’t support a strong, stable dollar.”
Trump picks camera-proven Kudlow as top economic aide https://t.co/EBpWmhmLuY
— darryldeanwilliams (@darryldean57) March 14, 2018
The dollar clawed back losses in the afternoon after subdued inflation data, comments from Mario Draghi and the continuing fallout from the abrupt firing of Rex Tillerson forced it lower earlier in the session. It’s unclear how much of an impact Kudlow’s comments had on the dollar. CNBC noted that, typically, commenting on the dollar is typically delegated to the Treasury Secretary.
“I’m not saying the dollar has to go up 30 percent, I’m just saying let the rest of the world know that we are going to keep the world’s international reserve currency steady,” Kudlow added. “That creates confidence at home.”
He later drove his point home by saying he would buy the dollar and sell gold.
New WH economic chief Larry “King Dollar” Kudlow: “I would buy the dollar and sell gold.” #NYP
— Michael Gray (@12mgray) March 14, 2018
So far that’s not been a great trade, Larry…
Throughout the interview, Kudlow adhered to the Trump policy playbook.
Trump, like the Clinton’s, the Bush’s, Obama, Merkel, May, Cameron, Blair, Macron, Hollande, Sarkozy Putin and Xi Jinping, is a Freemason and an elite puppet.
George Soros serves the Rothschilds and the Rothschilds are the founders of Israel.
Trump is nothing but a Rothschild/Illuminati puppet.
– Ivanka Trump’s women entrepreneurs fund takes $100 MILLION from Saudi Arabia and United Arab Emirates (If you know that the Saudis belong to the Khazarian mafia, then it all does make sense.)
– Slate: “Jared’s Not So Sure He Can Bring Peace to the Middle East. Thank God.” – Maybe Kushner, who owns the 666 Fifth Avenue building in NYC and belongs to Jewish supremacist doomsday cult, does NOT want to bring peace?
– Saudi King Shah Salman gifts items to Trump worth $1.2 BILLION (If you know that the Saudis belong to the Khazarian mafia, then it all does make sense.)
Trump actually spent Christmas Eve with George Soros in 2009, according to the New York Post.
Justin’s note: Volatility has come storming back.
Just look at the CBOE Volatility Index (VIX), which measures how volatile investors expect the market to be over the next 30 days.
It’s up 89% since the start of the year. Last week, it hit the highest level since 2016.
Investors aren’t used to this. After all, last year was the least volatile year ever for U.S. stocks. That lulled many investors to sleep. It led them to take risks they would normally never take.
Now, those same people are wondering what to do. They aren’t sure if this is just a run-of-the-mill pullback…or the start of something much worse.
To help answer this question, I called up Doug Casey. I knew he would have an interesting take on this matter…
Justin: Doug, U.S. stocks took a beating recently. Where do you see things going from here?
Doug: Well, I hate to make a firm prediction of timing. The fact that things have held together, against all odds, since 2009, has underlined the old saying about just because something is inevitable doesn’t mean it’s imminent. Predictions of disaster, and all these things unwinding, have been wrong over the last half a decade. And the smart bet is always for muddling through, in the direction of progress. But it seems that we’ve finally reached a peak, a major turning point.
Justin: So, what have you done to protect your wealth?
Doug: At the beginning of the year, I took all my original capital out of cryptos, plus 150% profits. I also took profits on crypto stocks. I got in late, and out a bit late. But it was a happy experience.
Continue to prepare for the greatest financial/economic collapse in world history,…
…because it’s coming.
Peter Schiff recently attended the Vancouver Resource Investment Conference. While he was there, he did an interview with Daniela Cambone of Kitco News and Schiff said gold is going to soar.
But Schiff (who predicted the 2008 recession) also explains why he believes now may be a good opportunity to invest in physical gold. Schiff said that the standard sentiment shared by many is that once the Federal Reserve jacks up interest rates, gold will stay level and unaffected. But that didn’t happen. Schiff said that the yellow metal has surprised the initial expectations that it would fall when the Fed raised rates; gold has climbed 9% since the Fed hiked last month.
Gold has not really rallied. It’s been going up, right? But it’s been creeping higher. Now, everybody expected it to fall. Everybody believed that as soon as the Fed hiked rates, gold’s gonna tank. And it didn’t tank. It rallied. -Peter Schiff
H/t reader squodgy:
“Or will this be the way forward?
It is all so emotive and misleading, I think I’ll watch Loonie Tunes for a while.”
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LONDON — Big Four consulting firm Ernst & Young (E&Y) has been accused of “unlawful, unprofessional, and unethical” behaviour relating to its audit of a Dubai gold company accused of money laundering and buying gold from conflict zones.
The allegations were made in documents, seen by the Guardian, filed in the high court by lawyers acting for Amjad Rihan, a former E&Y partner who blew the whistle on the alleged scandal in 2014.