Yesterday, my wife and I traveled 24 hours to reach China; and here I am writing, after having slept perhaps six of the past 48 hours.  I'm not sure why it's so difficult to sleep; but then again, time zones can play tricks on one's mind - that is, until it all comes crashing down in a fit of exhaustion!

Our initial plane to San Francisco was cancelled at the last second; and miraculously, we booked the last two seats on the last available flight that would get us there in time for our Hong Kong connection - which, of course, was promptly delayed by more than three hours, after we had already boarded.  Anyhow, we made it, and I'm writing here at 5:00 AM Sunday morning.

I'm too busy to write much, but I see gold had yet another historic day of turnarounds; rebounding not once but twice from blatant Cartel PAPER raids - the second at EXACTLY 10:00 AM EST - to actually close higher for the day...

Moreover, the second rebound occurred late in the day - which NEVER happens; coincidentally or not, as JP Morgan announced it's GETTING OUT of the physical commodity business. 

I know many want to make a direct connection between these two events, but I'll take it with a grain of salt.  Let's face it; everything these CRIMINALS perpetrate is characterized by deception and misdirection.  However, one can't deny the obvious trend toward plunging PM inventories - particularly at JP Morgan.  And thus, it would not surprise me one bit if they are actually FLEEING this business for fear of imminent default.  Not to mention, as they have been covering their own PAPER shorts on the COMEX, and buying SLV hand over fist.

One last thought, before I go.  Yesterday, Newmont Mining took a $2 billion write-off on its Australian gold mines - following Goldcorp's $2 billion write-off of its massive Penasquito project in Mexico the day before.  What part of the GOLD PRICE BEING UNNATURALLY LOW can anyone not see at this point?  In other words, the price MUST move higher - and significantly higher at that - in the VERY near-term; lest the entire industry will be on the verge of collapse.  Sort of like what happened in 2008, when gold production subsequently plunged 9% following the Cartel's massive autumn raid from $1,000 to $670 - and the price promptly tripled to $1,920.

PROTECT YOURSELF, and do it NOW!

Call Miles Franklin at 800-822-8080, and talk to one of our brokers.  Through industry-leading customer service and competitive pricing, we aim to EARN your business.

 In Bernocchio!, Bill Holter wrote of the flat out LIES Ben Bernanke put forth in his July 17^th economic testimony to the House Financial Committee - particularly the ALL-TIME WHOPPER that the Fed is not "literally" printing money...

 

Bernanke Admits to Rothfus: Fed "Not Literally" Printing Money

 

However, he was only "getting warmed up" for the following day's testimony in front of the Senate Banking Committee; in which he made two of the most disingenuous statements in HISTORY - regarding gold's role as an inflation hedge...

A lot of people hold gold as an inflation hedge. But movements in gold prices don't predict inflation very well, actually.

...and why people deign to own it...

I suppose that one reason gold prices are lower is that people are less concerned about extreme outcomes, particularly negative outcomes, therefore they feel less need for whatever protection gold affords.

-Kitco.com, July 18, 2013

Ah, the "DELUSIONS OF A FED CHAIRMAN"; who - I ASSURE you - views the world quite differently within the confines of his mind - per last week's RANT, "PRIVATE MUSINGS OF A FAILED FED CHAIRMAN." 

Yes, we are to believe gold has not kept up with thousands of years of monetary inflation - despite the fact 599 fiat currencies have come and gone, leaving only gold in their wake.  Much less, that in a global economy at its low pointof our lifetimes, people are suddenly "less concerned" about extreme outcomes.  Tell that to the Indian population, who are buying so much PHYSICAL gold - 8% tariffs and all - that the government seeks to implement import quotas...

India moves closer to gold import quota to stifle demand 

How's that for Fedspeak - in utilizing the ambiguous term "extreme outcomes" to describe those evil 'goldbugs' worst-case scenario?  I wonder if he means HYPERINFLATION - or as he would deem it, an "accelerated cost of living."  Or UNREST - as we are seeing in Brazil, Turkey, Egypt, and Spain, among others.  Or how about Central banking "QE to Infinity" schemes; as appear to be developing in the U.S., Europe, and Japan?  Frankly, they are being instated EVERYWHERE; however, many nations with "second-tier" and "third-tier" currencies - like India and Brazil - have been forced to delay them, given that INFLATION has already gotten out of control.  In my view, this is the root cause of the world's accelerating economic malaise - as discussed recently in "INFLATION AND ARAB SPRING."

"Extreme Outcomes" may be a cute way to subvert a Congressional question regarding the looming, potentially catastrophic risks hanging over the economy.  However, in the REAL WORLD, they represent scenarios that not only could occur, but have been at an increasing rate since the GLOBAL economy peaked at the turn of the century; and particularly, since four decades of MONEY PRINTING madness came to roost in 2008.

The WORLDWIDE impact of the WORLD'S LARGEST PONZI SCHEME will be both lasting and incomprehensible; unlike anything the world's newest generations have seen.  I fully anticipate political, economic, and social dislocations on a par with those experienced during World War II - which even Bennie would admit to be "extreme outcomes."  This is why I plead people to PROTECT financial assets with PHYSICAL gold and silver; but equally importantly, to prepare - across-the-board - for what they personally foresee as "extreme outcomes."

PROTECT YOURSELF, and do it NOW!

Call Miles Franklin at 800-822-8080, and talk to one of our brokers.  Through industry-leading customer service and competitive pricing, we aim to EARN your business.

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