Gaddafi Dead. Killed by Nato

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Here you can read “The Green Book – by Muammar Al Qaddafi“

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Alasdair Macleod, of financeandeconomics.org, and James Turk, Director of the GoldMoney Foundation, talk about about the importance of savings and how currency debasement destroys savings and the middle class, killing growth.

They talk about the sovereign, the gold standard and price stability. How long term growth is compatible with a stable money supply and even with prolonged deflation.

They explain how central bank interest rate manipulation through credit creation creates the business cycle and misdirect investment. Alasdair explains how in British history, absent the central bank, continuous growth and sound money helped create the most prosperous nation in the world. James explains the importance of the Rule of Law for stability and prosperity.

This interview was recorded on August 5 2011 in London.

Silver Spot $/oz – G1 Daily 8/31/09-8/31/11, Bloomberg Finance

Gold’s London AM fix this morning was USD 1,826.00, EUR 1,264.19, GBP 1,121.14 per ounce. Gold fix was higher than yesterday’s AM Fix which was USD 1,791.00, EUR 1,243.49, GBP 1,097.56 per ounce.

Gold remains less than 5% from its record nominal high of $1,913.50 per ounce while silver remains nearly 20% below its record nominal high just below $50/oz.

Gold has stolen the limelight from silver in recent weeks with gold reaching a series of new record nominal highs.

But silver has been quietly consolidating after the sharp falls seen at the end of April and in early May when many claimed the silver ‘bubble’ had burst.

Media coverage of silver remains nearly nonexistent which is bullish from a contrarian perspective.

Technically silver is looking better by the day and is now trading not far above its 50 and 100 day moving averages (see chart above).

Today the 50 day moving average is trading at $38.70/oz and the 100 day moving average is trading at $38.74/oz. The 50 DMA is rising after recent price gains and looks set to cross the 100 DMA in the coming days. This will be a bullish technical signal.

Silver’s sell off was very sharp but volatility and a correction was expected and warned of once silver reached the nominal inflation adjusted high of $50 per ounce.

Value buyers continue to accumulate silver bullion. Jim Rogers, one of the most prescient investors of recent times and who arguably has a better track record than Soros in recent years, remains bullish on gold and particularly silver.

A tiny minority of retail investors has begun to look at silver, but it remains largely the preserve of the smart money, a very small amount of people in the United States and Europe concerns about currency devaluation and store of value buyers in Asia.

There are many factors that strongly suggest that silver remains a prudent buy and diversification today.

But there are three key metrics which strongly suggest that silver remains far from a bubble if not undervalued.

The first is silver’s real price today adjusted for the inflation of the last 31 years. Silver’s real high in 1980 was $130 per ounce – more than double the price today (see chart above).

The second is the gold silver ratio which has averaged 15 to 1 throughout history due to geology and the fact that there are 15 parts of silver to every 1 part of gold in the earth’s crust.

Gold Silver Ratio – 40 Year (Quarterly)

Silver, unlike gold, is an industrial metal and a very significant amount of all the silver that has even been mined has been consumed, like oil, since the dawn of the industrial revolution in the 19th century.

Most analysts with a long term view believe that the ratio is likely to revert to the mean of 15 to 1 in the coming years.

The third metric is comparing silver’s current bull market to that of the 1970s.

Silver has risen by a factor of 10 in the last 9 years – from near $4 in 2001 to over $41 today.

In its bull market from 1971 to 1980, silver rose by over 3,199% or by a factor of more than 32 in just 9 years culminating in the blow off top in 1979.

Today, the physical supply of silver bullion is much less than in the 1970s. Also there is the ‘Asian factor’ and 3 billion people with growing incomes, many of whom see silver as a store of value against currency depreciation.

Demand for silver in Asia has been increasing and in China alone silver demand is increasing from a near zero base. The demand was not present in the 1970s.

Were silver to replicate the performance of the 1970s it would have to rise 32 times or to $130/oz (32 X $4.05).

Interestingly, $130/oz is also silver’s real high from 1980.

Our long held belief that silver could reach the real high, inflation adjusted, of $130/oz remains. However price forecasts should always be taken with a pinch of salt and silver’s value is as financial insurance and a store of wealth that cannot be debased.

For the latest news and commentary on financial markets and gold please follow us on Twitter

SILVER
Silver is trading at $41.31/oz, €28.60/oz and £25.34/oz.

PLATINUM GROUP METALS
Platinum is trading at $1,848.75/oz, palladium at $779/oz and rhodium at $1,800/oz.

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This week Max Keiser and co-host, Stacy Herbert, notice that looking back is not an option when all the evidence is destroyed by the SEC and Max tries to explain the gold / Treasury conundrum. In the second half of the show Max talks to Catherine Austin Fitts about exponential fraud and the financial coup d’etat.

Ben Davies (hindecapital.com) and James Turk, Director of the GoldMoney Foundation, talk about the current fiat currency world monetary system established under “Bretton Woods II”. They explain the imbalances created by the hegemony of the fiat dollar, and how it allows mercantilist vendor financing and the accumulation of huge FX reserves in sovereign wealth funds and other vehicles. Ben Davies thinks that this system is close to the breaking point.

They talk about potential problems in China, and how the Chinese need to import huge amounts of raw materials in order to keep their economy growing. Davies and Turk also explain how China has more gold than they are admitting.

They talk about the economic outlook and how growth is slowing in the US and the EU as the sovereign debt crisis takes its toll. They discuss the probability of further rounds of monetary stimulus, be it QE3 or an equivalent. The two men also explain how this will result in a crack-up boom as described by the Austrian economist Ludwig von Mises. They both see gold as undervalued, but explain the problems of using dollar price targets because the fiat dollar is a changing yardstick. Ben Davies explains that money, like any other good, is affected by supply and demand, which set the price.

They talk about the potential for hyperinflation; Davies comments that hyperinflation is a political phenomenon, and that the conditions for it are in place in many countries. They see the rising gold price as a reflection of the flight from fiat currency into real goods and tangible assets.

They see gold breaking the $2,000 barrier this year and moving exponentially higher. Ben Davies explains that he uses a power-function model to analyse the price of gold, based on Benford’s law.

This interview was recorded on August 4 2011 in London.

Watch the videos for the full interviews with King and Rickards, and read Rogers’ comments below.

Stephen King, the chief economist of HSBC tells me that “financial anarchy” is possible for the next few years as the world has begun its adjustment to the “post- dollar world”.

Jim Rickards, a bond market specialist from the US, tells me why the downgrade was “a mistake for S&P”, why a return to the gold standard is the answer, and why the Tea Party should be praised. He answered your Twitter questions…

Lastly the legendary Jim Rogers, who once told me to become a farmer during an interview, could not be interviewed on tape, but emailed me this comment: “The “downgrade” is meaningless. The rating agencies have zero credibility. Besides everyone knows the US has not been AAA for years.

“We are the largest debtor nation in the history of the world and it is getting worse.

“I know you have to report something, but any investor who bases anything on this should not be investing. It is not even old news; it is not news.”

So the creation of heavy elements requires a supply of neutrons and a lot of energy to shove them into already existing atoms. The s — process can produce some of the heavier elements but s — process elements tend to be much lighter than gold. The s — process can occur during a star’s carbon burning phase. The r — process takes something quite a bit stronger — a supernova. In other words, a star has to be blown to smithereens in order to create gold and other heavy elements. Our solar system has been the benefactor of the r — process. Many rare earths including gold show that to be the case. The evidence is that our solar system was metal enriched by more than one supernova.

GoldSilver.com is an education first company. We are cycles investors and are currently investing in the silver and gold cycle. By our measurements today precious money metals, silver and gold are heavily undervalued versus other asset classes like real estate, bonds, stocks, etc. We also believe we are headed towards a currency crisis with the dollar and an eventual monetary system change. In the meantime we will continue to educate the public and invest alongside our customers.

Customers who purchase gold and silver bullion coins and bars from GoldSilver.com are automatically added to the Insider’s program ensuring that they will receive Mike Maloney’s Exit Strategy as he eventually moves out of his precious metals investments into other asset classes.

Please visit our website for more information!

KR on FB: www.facebook.com/KeiserReport

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Peter Schiff explains why the economic meltdown happened and why it shouldn’t have surprised anyone.

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He talks about the latest Greek austerity package passed by the country’s parliament and argues how entrepreneurism instead of austerity measures could have saved Greece.

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He talks about how countries and banks are evolving towards gold as money, even though they publicly may say it’s not but they know it’s an asset that they hold which is worth something.

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http://wikileaks.org/support.html

Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.

Max Keiser, of maxkeiser.com, James Turk, Director of The GoldMoney Foundation and Pierre Jovanovic, jovanovic.com, tell the story of the introduction of Fiat Money to France.

In this episode we look at the use of Fiat Money during the French Revolution and how monetary mismanagement made an already delicate situation even worse, destroying the nation’s economy and encouraging political radicalism.

We start with the debates over the issuence of paper money, explaining that the previous experience of John Law made French statesmen like Necker very cautios about fiat currency. The debates over the first issue of assignats were hard fought and lasted a long time, with the first issue of assignats approved by just a handful of votes and with all manner of guarantees to insure that it was “backed” by land and other forms of collateral.

The first issue of assignats had some very positive short term effects, stimulating commerce as paper wealth spread. However, the government took only a few months to spend the money raised and very soon cries were raised for more. This time a new issue was approved by a large majority. We look at how this paper money inflation started to drive prices higher, encouraging the creation of more paper in increasing amounts as the government and its clients became addicted to newly-created money. Rising prices were blamed on all manner of scapegoats in order to divert attention from the real cause: money printing.

As the situation worsened, the worst rose to the top, with Clavière becoming Minister of Finance with the promise to increase printing. Gresham’s law started to act in full force, driving good money out of circulation with such force that silver, gold and even copper disappeared from the market. Attempts to put ceilings on prices through the “Law of the Maximum” and to prop up the value of assignats failed, and only succeeded in criminalising most commerce with increasingly harsh penalties — eventually including death — for those that sold above established prices or refused to accept payment in worthless government paper. Even the guillotine was not enough backing to ensure the assignat’s survival.

Eventually food riots brought down the revolutionary government, and after several interim reactionary governments culminated with Napoleon’s military rule. Napoleon brought back the gold standard, which survived until the first World War.

Further reading:

Fiat Money Inflation in France, Andrew Dickson White

Early Speculative Bubbles and Increases in the Supply of Money, Douglas E. French

Reflections on the Revolution in France, Edmund Burke

Assignats And Mandats; A True History, Stephen Devalson Dillaye

What Has Government Done to Our Money?, Murray N. Rothbard

Max Keiser, of maxkeiser.com, James Turk, Director of The GoldMoney Foundation and Pierre Jovanovic, jovanovic.com, tell the story of the introduction of Fiat Money to France.

They discuss John Law and how his money printing fix was seen by the French Regent as a way out of the kingdom’s debt troubles — accumulated by past wars and royal extravegence — a way to avoid the harsh spending cuts that were unavoidable given the difference between income and spending.

Keiser, Turk and Jovanovic talk about the Mississippi Bubble and how speculation in stocks became rampant as banknotes were printed to drive up the value of paper assets, how the French public was caught up in the speculative mania with dreams of untold riches from Louisiana.

They explain how John Law’s success and the riches that he brought the crown ensured his promotion to Minister of Finance.

The trio also discuss how the bubble popped, how all manner of coercive and increasingly desperate steps were taken to prop up the value of shares in the Mississippi Company, including the printing of increasing amount of banknotes. When the banknotes themselves started to depreciate, gold and silver coin were outlawed in an attempt to force the French to use only paper money. The consequences were disastrous, with commerce paralysed and the economy brought to its knees.

Further reading:

La Banqueroute De Law, Edgar Faure

Early Speculative Bubbles and Increases in the Supply of Money, Douglas E. French

Extraordinary Popular Delusions and the Madness of Crowds, Charles Mackay

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The Illuminati Defined

Bildeberg bloggers.

This video reveals Ron Paul’s opinion about the “housing bubble” in 2002 and 2007, his opinion of the rationale and threat from Iraq in 2002, his amazing statement in 2007 at a presidential debate that Osama bin Ladin was hiding in Pakistan, and additional predictions that are coming true today.

If you’re tired of electing officials who don’t know what they are doing, take a look at Ron Paul. No other candidate for President has his principled voting record, and nobody else has his amazingly accurate record of predictions (culled from his knowledge of history and the Austrian school of economics).

The Logan Act is a United States federal law that forbids unauthorized citizens from negotiating with foreign governments. It was passed in 1799