So, well…it seems I’ve completely failed for my last two new years resolutions by not updating this blog.  It’s turned out to be somewhat like an in-law – you want to know it’s OK, will give it money when needed and may even check in from time to time, but constant contact…unthinkable!  I promise not to turn this post into a post about posting more…because, well, I’ll still do what I do and you’ll still get what you get.  Promises made to a computer technically don’t count, anyway.  And, so far, my long standing offer of being paid to blog goes yet unfulfilled.

There’s probably a lot I could write about.  Some good.  Some bad.  Some might even be therapeutic and good for me, given my circumstances.  Things aren’t terrible…but they have been and could be better.  I could also probably rant forever on any given mundane subject, argue the devil’s advocate or even tell a story about how this once hacker-gone-corporate career is going for me.  This post really doesn’t have a point…it’s just to get my words, my thoughts on the freaking page sometime in the year of 2011.

There’s plenty of the “heavy” that I could go on about.  Sheesh, my last post about gold had it at just over $1000 an ounce (now $1840) and silver was hovering at $14 an ounce (now $44!).  Compared to gold, we’ve seen almost an 80% devaluation of the dollar…and according to silver, we’re at nearly 300% devaluation.  I keep talking and only a few are listening.  But, those who have listened have certainly not regretted their decisions.

I was sent this thing from MoveOn.org the other day about a movement that would apparently bail out college/education loans.  I applaud the argument to actually help people, rather than private bankers and industrial complexes, but really?  They want to bail out the people who have their whole life in front of them?  I admit, a lot of college grads these days are working in service positions and other fields that don’t require formal education, and thus are being paid less than they deserve.  I’m sorry.  The problem is that our country’s policies don’t favor continental US industry anymore.  The problem is our trade agreements shipping our jobs to cheaper sources of origin.  The problem is inflation continues to devalue the dollar and things cost more.  The problem is, even given a choice, we’ll buy something from China rather than the USA because it’s cheaper.  You can bail out a bum for a lot cheaper, but unless the underlying issues are corrected…that person will remain a bum.

I’m doing something pretty cool this coming weekend.  Going to take the Magruder Corridor across the Rockies, from Idaho back into Montana.  It’s been termed the “longest continual gravel road” in the world at just over 101 miles.  It’s an old road that used to connect Lewistown, ID with Virginia City, MT for trade and mining purposes and now only this section over the Rockies remain.  Apparently, it was popular with the gold traders and back in 1863, some folks were murdered along the corridor upon returning from Virginia City to Lewistown including one prominent Lloyd Magruder, for which the trail is named after.  It’ll be good to get my Pathfinder out on some gravel roads, spend a couple nights under the stars and get a brief lesson in US history.

I did it.  Words on a page in 2011.  Sorry for the ramble, but felt like writing & just didn’t have a clear direction.

P.S.  Google Ron Paul 2012

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I watched this video, where a statement was made that took me by surprise.  They stated that if a person spent a million dollars a day, since the day Jesus was born (year zero), that it would take until now to reach what Congress has spent in the last few months on the various bailout packages.

This seemed so outlandish that I broke out the calculator and as it turns out, that wasn’t entirely true.  It would actually take until the year 2192, spending a million dollars a day, to reach the 800 billion dollars that have been spent on bailouts in the last few months.  So, it was off by a couple hundred years.  By now, you would have only spent about 766 billion dollars!

$1,000,000 x 365 x 2192 =$800,080,000,000.00

I couldn’t resist taking that one step further by using the same exercise to find out how long it would take, spending a million dollars a day since year zero, to equal the current US national debt of 10.8 trillion dollars.  I was almost afraid to figure it out and when I started having to go into year 10,000 plus, I really started to get alarmed.

It would take spending a MILLION dollars a DAY for twenty nine thousand six hundred YEARS to spend the 10.8 trillion dollars that is the US national debt.  And even that doesn’t quite get us to where it’s at today…rounding off didn’t really make that big a difference from my perspective.

$1,000,000 x 365 x 29600 = $10,804,000,000,000

If that doesn’t put our current situation into perspective for you, I don’t know what will.  I think it’s time for me to write a letter to Congress.  If this at all concerns you, I would adivse you to do the same.

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I recently received an interesting email that the US Treasury has apparently sold out the entire remains of the United States gold to the Federal Reserve for a steal – at nearly $900 per ounce less than current market values.  I have read several articles as of late relating to the balance statements of the Federal Reserve and it’s been pretty clear that there have been some drastic changes in the last few months.  My research has indicated that the balances are further out of whack than has ever been seen historically.  To put it simply, the percentage of loans vs. the retained assets of the Federal Reserve have been heavily skewed towards the loan side.  To put it in layman’s terms, it would similarly relate to a person making $30,000 a year taking out a loan for a million bucks.

Here is the copy of the email I received:

The entire 260,540,028 oz of Gold that was previously held by the U.S. Treasury has been issued to the Federal Reserve during the period of Feb 11-18, 2009 at a cost of $42.22 per troy oz.  The Federal Reserve issued credits to the U.S. Treasury  in the amount of $11 billion in federal reserve notes.  This transfer of gold represents the nation’s entire official gold stock.  In other words, a private bank, never having an independent financial audit, now  has all our nation’s real wealth!!!

It’s bad enough selling our gold, but why not at current market price of $950.00??  Are the taxpayer’s getting ripped off once again???

(The above information was released by the Fed on Feb 19,2009 in their Factors Affecting Reserve Balances–H4.1, table 8, page 1.)

I am not inclined to believe this information without first confirming it through the sourced references.  I was quickly able to find the sourced reference on the web, directly from the Federal Reserve’s web site.  You can check the information for yourself.

Though I am not an expert in these matters, I have had a fair amount of difficulty deriving the supposed stated facts from the sourced reference.  Specifically, I noted that the table referenced does not directly indicate any specific gold purchases, nor do any of the supposed values or purchase prices add up anywhere in the tables.  There is a row for gold certificate accounts which indicates zero change from both last week and last year.  So, with that said, I’m not entirely ready to believe the information I received in the email.

Through this research, though, I did take note of something interesting however, and I would like to bring it to your attention.  The assets relating to the Federal Reserve balances did increase at an abnormal rate.  If you look at the total assets and their reported changes compared to the previous week and previous year, you’ll see an asset increase on the magnitude of 72 billion dollars since February 11th.  Some simple math indicates this increase is just under twice the average week-over-week increase that we typically see.

Of deepest concern though is WHERE the increase of assets is coming from.  Interestingly, when looking at the referenced table, it’s pretty clear the largest increase has come from “securities, repurchase agreements, term auction credit and other loans.”  These are typically not real, tangible “right now” assests, but rather promises to pay and other IOU based assets.  Even more alarming is the breakdown of these sources and the elements that make them up.  If you take note, the “mortgage backed securities” increased this week at a rate 46 TIMES higher than the average week over week increases.  Some quick math shows the average weekly increase (total yearly divided by 52) is about 1.25 billion dollars.  In just this last week, that very same element increased by almost 58 billion dollars!

So what’s the deal?  Well, if you did any research on “mortgage backed securities” through the link I provided in the last paragraph, you’ll find that these are typically mortgage based loans, primarily in the residential markets.  Boiled down, that means that mean the Federal Reserve just bought a rather hefty percentage of the home loans and other property loans in the United States.  They’re well on there way to owning you, your life and your property.  No longer is it primarily the US taxpayers “promises to pay” (e.g. US Treasury bonds) that are backing up the dollar, but now your homes and property is what is giving it value.  That’s a very deep concern for me, especially considering it’s the private bankers at the Federal Reserve that have gotten us into this mess to begin with.

Even deeper, though, if you look at the other reported figures that millions may be defaulting on their home loans over the course of 2009 due to the economic recession…this could spell out a recipe for disaster.  As the Fed takes possession of our former homes, one-by-one they will begin to own and control huge percentages of personal property out there.  These guys are smart – they have the power to do this and they are beginning to exercise it.  They’re the biggest bank on the block and they’re priming themselves to control America, all the way down to our land and structures.

I did expect some increase of assets by the Fed though I wondered how they were going to do it.  It was essential because the huge loans that are being made to the US for bailouts and other disreputable causes have thrown the Fed’s balance sheet far too out of whack.  Foreign countries, banks and investors are looking at this to derive the stability and desirability of the US dollar and treasury bonds – getting too far out of balance would result in these entities going elsewhere for their investments.  I think we’ve reached the teetering point where the US taxpayers no longer have the ability to repay the huge debts that have been created – and now, the Fed is putting our private property on the line too.

The times, they are a changin’!

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I’ve been keeping an eye on those metals – especially the silver market.  Fairly recently, I wrote about the blatant manipulation we’re seeing in these markets – how it’s done and why it’s being done.  I also mentioned how the market was stressing from supply issues and how many sources were charging significant percentages over “spot” price, simply because the market was fed up with the ridiculously low prices.  I learned to keep an eye on E-Bay for current market values – and even when prices were down as low as $10.00-11.00/oz for silver, people were paying upwards of $15.00-$20.00 simply because physical possession was difficult all around the country.  E-Bay, oddly enough, shows the fairest market prices that I’ve been able to discover anywhere – after all, it clearly indicates what people are willing to pay.

I’ve wondered to myself how they can keep the prices so artificially low for so long.  Well, I think we’re finally starting to see the dam break and it’s coming back with a vengeance.  Since the first of the year, we’ve seen silver go from $11.00/oz up to about $14.50 at last check, or about a 31% slide upwards.  Compare that to other commodities, such as crude oil prices, and you’ll find nowhere near the same response.  In fact, oil has been steadily falling since the beginning of the year.  Corn shows the same trend, as does canola, wheat, cattle and nearly every other commodity out there.  (Source)

So, the commonly spewed logic that gold and silver generally follow the same trends as other commodities is clearly being blown out of the water.  With this being the case, there would seemingly be no logical reason for the prices of silver to have fallen from the low 20′s back down to the low tens over the course of late 2008.  It obviously has a mind and life of it’s own, completely independent of other markets.  Logically so, too…gold and silver have inherent actual value whereas other commodities are only as good as the price people are willing to pay for them.  I suppose this could be said about gold and silver as well – but it’s truly an odd world when the charts say it’s worth “X” and people out there are paying “X” plus ten to a hundred percent.

I guess the point here is that I wanted to dig on the idiotic logic of all those economorons out there who consistently stated that gold and silver follows other commodity trends.  I told you so.  Look at the numbers and charts.  Explain away.  Can you see it yet?

Lalalalala…I’m not listening.

I expect silver to at least hit $25/oz this year and gold will probably touch $1250/oz.  Maybe more…maybe a LOT more.  There’s a lot of wild and unpredictable factors swirling about right now and a whole house of cards that could come tumbling down even further.  I wish you all well this 2009…and I’d highly recommend you get out of stock and commodity markets and into something you can have and hold.  Pure silver and gold!

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I have been facing the magnitude of our current economic crisis for some time now.  I expected it long before we ever got here…it’s just logical progression for those that are aware of the facts.  I have struggled, however, in the ways I can use to communicate the severity of the crisis.

The puppet heads in the media really aren’t saying what this crisis is.  They want to look at the housing market or the stock market…the companies and the malinvestments.  They just simply aren’t looking at the facts.  The problem has been and will be inflation – the creation of money out of thin air, by the Federal Reserve, without anything of substance to give it value.  This crisis is essentially the systematic destruction of the US dollar by central bankers, fueled by an ignorant and fearful Congress.

I found a video that pretty much sums it up.  The sheer numbers on a graph, when compared against historical records, illustrate quite well the maginitude of what we face.

Click here to view the video!

For those who may not get what these numbers mean, essentially this is the balance sheet of the Federal Reserve.  Imagine that I have $1,000 worth of something valuable (say, gold for example) and that is used as collateral to give value to something that has no inherent value, such as a printed dollar.  Then, say, you come to me and borrow a thousand printed dollars.  I’m now at a one-t0-one ratio, right?  I have $1,000 worth of value and $1,000 worth of debt…not a bad place to be.

But then imagine, I all of a sudden say that I’ll now borrow out $5,000 of intrinsically worthless paper…but I don’t increase my reserves.  You borrow the $5,000 paper dollars…I’m now at a 5 to 1 ratio, right?  The value of those dollars has not increased, but rather decreased because I still only have $1,000 in reserves.  If you wanted to buy that $1,000 worth of gold, it would cost you the whole $5,000 because that’s what the gold now represents.

Take that to where we are today.  The graphs in the above video illustrate what would happen if I all of a sudden said I now have tens of thousands of dollars that I can borrow out…but still, refuse to increase that which gives those dollars value.  Again, the perceived value of all those tens of thousands of dollars are decreased by the ratio of reserves to loans.

The danger of this situation is significant…both to me, the originator of such loans and to you, the borrower.  Why?  As we increase this ratio, the perceived value of those paper dollars becomes less and less attractive.  The risk comes when you, the borrower, starts to see the impacts of this devaluation and consider other options that may be less risky.  That’s where the danger comes in – if the significant borrowers of my paper money become disinterested in borrowing from me….all of sudden the system fails and both you and I are hung out to dry.

This is the rapidly approaching situation that we face, aleit simplified by magnitudes.  We cannot turn a blind eye to what is really going on with our economy these days, as scary as it is to face it.  The sooner we accept what the problem  really is, the sooner we can come to terms on how we can fix it.

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I was reading a fantastic article awhile ago that inspired me to post to my blog.  This informative article deals with the blatant manipulation of gold and silver prices.  As a precious metals investor for the past several years, I have had to deal with these manipulations which clearly make no sense at all.

I remember a time, just a few months ago, where silver had just fallen from it’s crest of $20 an ounce down to less than $10 an ounce.  Yet, when I would call every single silver dealer where I could take physical delivery, the actual selling price was upwards of $15 per ounce!  That is, if you could take delivery at all!  Pretty much every dealer I talked to was completely sold out and was expecting 5 to 6 week delays on resupply!  For those that actually could deliver, silver was going for $18+ an ounce!  Demand was huge, supply was extremely short and yet “official” trading prices maintained unreasonable levels for months!

Today, it’s not all that different, although slightly less extreme.  If you want physical delivery, it’s going to cost somewhere between $2 and $3 dollars over it’s going rate.  So, currently silver is trading for about $11 an ounce…but if you actually want it’s physical form, you’ll be paying $13 or $14 per ounce!  This compared to just a year ago where it was common to pay anywhere from a quarter to seventy five cents over it’s going rate.  It’s clear that something has been going on in these markets for some time.

In short, the commodities (paper gold & silver) are being used to manipulate and cap the market when the prices begin to rise to their natural levels.  Supply and demand theories completely go out the window when artificial gold and silver are utilized to manipulate the values of the real assets.

I particularly liked this article because it graphically represents trends using historical charts and deals with both the gold and silver markets.  If you have some time and have the interest, I recommend you read the following article.

The Manipulation of Gold and Silver Prices

Here is an article you may want to forward to your favorite mining CEO.

This article deals with the blatant manipulation that has been occurring in the gold and silver markets, and offers a solution. While this scandal has been going on for many years, at last more and more people are becoming aware that it is going on.

One of the first people to document the ongoing attempts to suppress the gold price was Frank Veneroso. Next was Bill Murphy of GATA.org. GATA continues to press the issue. Gata has discovered that the IMF instructed its member banks to treat gold that had been leased to bullion banks and sold into the market as if it were still in the vault! Imagine if an entrepreneur was running his business in this underhanded manner – how long would the government allow that?

A few years ago John Embry, while he was Portfolio Manager at RBC Global Investment Fund – a multi-billion dollar resource fund at the Royal Bank – prepared a memo for the bank’s clients that detailed the manipulation in the gold market.

Ted Butler has written extensively on the manipulation in the silver market.

This is something I have observed first hand since I became interested in silver in the mid-1960’s. It seemed that every time silver reached a peak, an invisible hand came out of nowhere and knocked the price back down to the starting point again. I wrote an article about this titled: ‘Once upon a time, in Never-Never Land.’

Every time a geo-political event, or a serious economic happening, such as the collapse of Bear-Stearns, causes gold to rise, (as it would be expected to do since it has always been a ‘safe haven investment’), the price immediately gets trounced, and investors and producers accept this new price as ‘THE price,’ since the new event has now been discounted.

Whenever common sense tells you something is happening that should cause a rise in the price of gold and silver, you can count on intervention to cap the price. As a result, millions of investors and mining companies have lost billions of dollars that they would have earned if these markets had been allowed to run their normal course.

The manipulation is obvious in the following charts:

This chart shows steady buying interest that took price from the low at 955.00 on July 14th to 985.00 the next day. The buying took place in Asia, then Europe, and carried over for about an hour in New York, when suddenly, in the space of minutes, an unseen entity dumped gold in the form of futures contracts (green line), without any attempt to obtain the best price possible. In about 5 minutes the gold price was down by 15.00, and the rise was over, as price drifted sideways for the rest of the day.

It was discovered later that several large banks, suspected to be HSBC (HBC) and JPMorgan Chase (JPM) and possibly one other bank, had switched from being ‘net long’ 5,381 gold contracts at the beginning of July 2008, to being ‘net short’ 87,609 gold contracts by the end of July. That is a 94,000 contract ‘turnaround’ and smacks of blatant interference in the market place, since these banks do not produce gold, nor are they likely to be hedging against that much gold in the vaults, since they do not own physical gold. Such a dramatic switch without any change in fundamentals is beyond reason.

Featured is the daily gold chart from October 13th. The blue line shows steady demand followed by consolidation early on Oct 14th, as recorded via the red line. Then a mysterious seller showed up shortly after the COMEX began trading in New York, and in the space of minutes the price was knocked down by 30.00. This is totally illogical, since the seller has no interest in obtaining the best price. His only interest is to destroy the price.

“In 1980 we neglected to control the price of gold. That was a mistake.” Paul Volcker.

“Central banks are ready to lease gold, should the price rise.” Alan Greenspan during Congressional testimony July 24/1998).

Featured is the price action right after the COMEX began trading in New York on October 16th. Within a few minutes the price was knocked down by 35.00 (green line), after the price had established a solid trading range between 830.00 and 850.00 during the previous two days (red and blue lines). This illogical dumping of gold contracts caused margin related selling to bring the price down another 15.00 before bargain hunters were able to level the price around the 800.00 mark.

These are just some of the examples of ‘irrational behavior’ on the part of several large traders on the COMEX, whose actions are not being controlled by the people who oversee the COMEX. While this article deals primarily with gold, the same manipulation exists in the silver markets. To repeat an earlier comment, ‘millions of investors (including miners), have lost billions of dollars because of the manipulation.’ The US government is able to interfere in the markets by way of the Exchange Stabilization Fund which is run by the Federal Reserve and the Treasury Department. The size of the manipulation referred to in this article could not take place without the encouragement that is very likely provided by people who are highly placed in government.

CAUSE AND EFFECT

The effect of this manipulation in the gold and silver markets is an artificial low price. In view of the fact that bullish events are not being allowed to permit prices to rise, nevertheless these events will eventually have a positive effect on the price. The cause is real, but the effect is delayed. The steam in the kettle continues to boil, despite the lid being clamped down. The artificial low price stops the development of mining projects that would have been profitable at the higher price. The artificial low price also cuts into profit margins at every producing mine, making it more difficult to obtain funding for exploration to increase resources. Every mine in the world is at all times a ‘depleting asset’ and needs exploration to postpone the day when the last ounce is mined.

THE MANIPULATORS ONLY HAVE TWO WEAPONS

The ammunition used by the manipulators is provided by two sources: Central banks (including the IMF), and the COMEX. While there is nothing anyone can do about the gold selling that originates with the central banks, there are ways to choke off the amount of precious metal that flows into the COMEX warehouses.
Those of us who are tired of the manipulators picking our pockets need to become active.
In 1978 – 1979 it was a rising silver price that caused gold to rise – silver was the leader. It makes sense therefore to concentrate on silver, especially since the central banks do not have hoards of silver.

A SOLUTION!

Mining companies that supply silver to the COMEX need to find a way to turn their silver into small bars (1 oz to 100 oz), and 1 oz rounds and sell these to the public. Already some mines are doing this by selling from their website, and they are obtaining a hefty premium over the spot price. If your production is limited, join forces with a mine that is already merchandising silver products, or form a sales organization with other small mines. Hire some cracker-jack salespeople; there is a big market out there! Starve the COMEX if you want to see silver sell to realistic prices. Adjusted for inflation, the silver price of 48.00 that we saw in February of 1980, is trading at 4.00 today. (In 1980′s dollars, silver is now selling for 4.00 an ounce!)

Next, (and still communicating to mining CEO’s), instead of keeping money in the bank, or in various kinds of short-term notes, store up silver, and show us that you believe in the product you are producing. Instead of cash on hand, buy futures contracts, and keep rolling them over.

Coin dealers and wholesalers need to buy 5,000 oz bars from the COMEX, take delivery, and contact a refiner who will turn the silver into retail products. If your operation is not large enough for a 5,000 oz purchase then buy silver from people like Jason Hommel, who was smart enough to start doing this on a large scale.

Investors who can afford to spend $55,000.00 should consider buying a silver contract from the COMEX and taking delivery. James Sinclair at JSMineset.com will show you how to go about that.

Finally, anyone who holds any kind of a certificate that promises to deliver silver, needs to make sure that the bank or institution that stores the silver, is willing to provide bar numbers. Otherwise when the day comes to collect, you may find that the silver does not exist. On my website you will find an article that I wrote about a fund that stores gold and silver at a bank in Western Canada. They invite auditors twice a year to audit the inventory.

Cartoon courtesy Gary Varvel, Indy Star.

The Madoff scheme is but one example of the lack of oversight on the part of people who have been placed in the position of protecting the public. In the US Congress, two of the people responsible for the mess that was created by Freddie Mac (FRE) and Fannie Mae (FNM): Congressman Barney Franks and Senator Chris Dodd, are now part of the group that is trying to ‘fix’ the problem. The foxes are in the henhouse! It was Franks and Dodd, who for years received money from Fannie and Freddie, while they stood in the way of people who wanted to tighten the lending standard at these two mortgage lending institutions. Whatever happened to responsibility? Where is the outrage?

Featured is the weekly gold chart. Price is ready to breakout on the upside. The supporting indicators are positive (green dashed arrows). The 7 – 8 week cycles have been short (twice at 6 weeks). We are due for a longer cycle. A close above the blue arrow will indicate that week #4 is the start of a run up to the green arrow. Once 925.00 is reached, then 975 is next. Since Labor day, the Federal Reserve’s assets (including huge amounts of toxic assets), have increased from 905.7 billion to 2.3 trillion dollars. This, along with the increase in the monetary base is going to add to price inflation and will cause a lot of investment money to enter the gold market. The gold rally that started in November has only just begun.

Featured is the weekly silver chart. Price has been rising since late October. The supporting indicators are positive (green dashed arrows). A close above the blue arrow sets up a target at the green arrow.

Thanks to Eric Hommelberg for the idea to use ‘historic spot charts’ to make my case. I applied the 11th commandment: “Thou shalt use every good idea thou comest upon.”

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I recently read an article reporting that an internal Citigroup memo is predicting some pretty dire economic circumstances for 2009 and/or 2010.  The memo even suggests that civil disorder is likely to occur and also provides some visibility into the recent doubts over the credit stability of several S&P AAA rated nations.

On the flip side, they do (logically) project that gold prices could surge through $2,000 an ounce as world markets recover from severe inflationary injections or we continue the downward spiral into depression.

To those of us who are paying attention and have a realistic understanding of fiat currencies and credit based markets, this comes as no surprise.  It’s interesting to see the world come to grips with it, though.

Continue to read the whole article.

Citigroup says gold could rise above $2,000 next year as world unravels

Complete Article at Telegraph.co.uk.

Gold is poised for a dramatic surge and could blast through $2,000 an ounce by the end of next year as central banks flood the world’s monetary system with liquidity, according to an internal client note from the US bank Citigroup.

The bank said the damage caused by the financial excesses of the last quarter century was forcing the world’s authorities to take steps that had never been tried before.

This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold.

“They are throwing the kitchen sink at this,” said Tom Fitzpatrick, the bank’s chief technical strategist.

“The world is not going back to normal after the magnitude of what they have done. When the dust settles this will either work, and the money they have pushed into the system will feed though into an inflation shock.

“Or it will not work because too much damage has already been done, and we will see continued financial deterioration, causing further economic deterioration, with the risk of a feedback loop. We don’t think this is the more likely outcome, but as each week and month passes, there is a growing danger of vicious circle as confidence erodes,” he said.

“This will lead to political instability. We are already seeing countries on the periphery of Europe under severe stress. Some leaders are now at record levels of unpopularity. There is a risk of domestic unrest, starting with strikes because people are feeling disenfranchised.”

“What happens if there is a meltdown in a country like Pakistan, which is a nuclear power. People react when they have their backs to the wall. We’re already seeing doubts emerge about the sovereign debts of developed AAA-rated countries, which is not something you can ignore,” he said.

Gold traders are playing close attention to reports from Beijing that the China is thinking of boosting its gold reserves from 600 tonnes to nearer 4,000 tonnes to diversify away from paper currencies. “If true, this is a very material change,” he said.

Mr Fitzpatrick said Britain had made a mistake selling off half its gold at the bottom of the market between 1999 to 2002. “People have started to question the value of government debt,” he said.

Citigroup said the blast-off was likely to occur within two years, and possibly as soon as 2009. Gold was trading yesterday at $812 an ounce. It is well off its all-time peak of $1,030 in February but has held up much better than other commodities over the last few months – reverting to is historical role as a safe-haven store of value and a de facto currency.

Gold has tripled in value over the last seven years, vastly outperforming Wall Street and European bourses.

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As I mentioned last week, I traveled up to Helena, MT yesterday to attend the “first ever” organized national protest of the Federal Reserve bank.  It was an opportunity to stress our concerns over the ever mounting national debt, the countless corporate bailouts, and other issues facing the economic state of our country today.

I had a great time.  About 30 people gathered at it’s high point – not bad considering that many had to travel several hours there and back just to be there.  There were dozens of hand made signs – saying everything from “End The Fed” to my sign, which read, “Wake up.  You owe THIS bank $35,000.00!”  I had several folks comment that they liked my sign and an attending family voted it as “the best.” 

Despite our efforts, it wasn’t possible to get local news media down there.  Apparently, nothing happens in Helena on Saturday or Sunday…so the news crews just simply don’t come to work that day.  Even if it means breaking the biggest story of the last century – “Private federal reserve bank steals trillions from American taxpayers.”  Oh, well.

The response from the area was mixed – a large majority looked on in a confused state; looking at our signs and then looking at the bank with the words “Huh?” going through their minds.  Some were very supportive…honking and waving at us…some even making a second trip to amplify their support.  Then there were the two who apparently didn’t understand what we were protesting and opted to give us the one finger salute.  They must’ve thought we were protesting the war or something.  We were able to distribute literature to quite a few stopping cars.  One of the young & spunky gals was marvelously effective at shoving bags stuffed with good info into closed windows on vehicles.  Nonetheless, it was a great opportunity to get the message out and I’m certain that at least some people are better off today because of it.

As for me, I’ll definately be there next year on 11/22.  And I hope in the coming year we can rally additional support and get hundreds of folks out there.  I’m certain that if the economy stays on it’s current track, by this time next year a LOT of folks are going to be pissed off enough to do something about it.

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This kind of moment is pretty rare on US mainstream television.  Peter Schiff calls out the state of the economy how it is.  There is so much truth in this six and a half minutes that it’ll make your head spin.

Click here to view the video!

Schiff’s been very accurate in his predictions over the last couple years.  As you’ll see below, he used to be ridiculed.  Now days, the tone has changed and people like Peter Schiff and Ron Paul have the MSM’s ear.  You’d do well to listen to him.

Click here to view the video!

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One of the greatest flaws of the modern American economy is that most Americans don’t understand it.  If the people readily understood it, there would be protests in the streets tomorrow.

Tomorrow is not as far off as it seems.

This coming weekend, I will be joining thousands of others across the country in the first ever nationwide organized protest of the Federal Reserve.  On November 22nd, at every Federal Reserve branch across the nation, individuals will rally against the fiat reserve currency system and the wealthy demons behind it.  Our purpose?  To educate and raise awareness to the Federal Reserve – the private entity to which Americans owe trillions of dollars to and those who rule us through money.

You can join us too…End the Fed is coming on 11/22 to a city near you!

If you’re so inclined, check out this recent video from Ron Paul on the results of the recent international central banker meeting.  The things that are going on in the financial sectors today are some of the most pressing issues facing us today.  I suggest we heed Paul’s advice and admit our mistakes and accept reality as soon as possible.

Click here to view the video!

And here’s the question Paul referred to in the video above.

Click here to view the video!

And on a fantastic note, Ron Paul has not entirely ruled out running for President in 2012.  Spread the word!!!!  As for me, I hope to be campaigning again for Paul by the middle of next year.  With three years to prepare, I think we’d have a serious shot.

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Things aren’t so hot on the US economic front these days.  Word is that mortgage giants, Freddie Mack and Fannie Mae – the largest backers of US mortgages – are facing serious finanical troubles.  Just as with Bear Stearns, a major investment banker, the Federal Reserve is being asked to make up the shortfall.  Don’t misunderstand, such an act will have a devastating impact to our economy and will send us into a downward spiral that will last for years to come.

Where the Bear Stearns bailout alarmed me with billions of US taxpayer’s dollars going towards preventing assured destruction of the US economy (from systemic collapse), this latest bailout has me in an absolute state of panic.  These two mortgage firms financially back nearly half of all US mortgages – trillions upon trillions of dollars of investment dollars.  We’re talking a multi-TRILLION dollar bailout here with the capacity to nearly double the US national debt overnight.  Yes, folks, that means our money will be worth nearly HALF as much once the trickle effect of that money being spent into the world’s economy is felt.

Oddly, after the news of the Federal Reserve backing the failed mortgage firms came out, the US dollar rallied back up.  This is completely counter-intuitive and clearly shows how well the market is manipulated and misinformed.  With multiple trillions being induced into the economy, the only *logical* result is for the value of the dollar to go DOWN.  More money in the economy, unbacked by anything of value EQUALS inflation.  Yet, mark my words, it will fall…and it’s gonna fall harder than I ever expected.

News reports are also saying that this bailout marks the last and final we will see from the Federal Reserve.  On one hand, that’s good news because US taxpayers are footing the bill – but on the other hand, it means that systemic collapse is a very real risk.  Once the collapse begins to occur, there is no stopping it – and we WILL feel an economic recession that makes the 1920′s look like child’s play.

As was expected, gold and silver rallied back up to levels seen several months ago – a surefire indication that things are in trouble.  I only expect these to continue their upward trend, despite being heavily manipulated.  Those who control the market can only do so much.  These two investments will be one of the few that can survive the up and coming disaster that is looming on our doorstep.

Have a great week. 

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Well, perhaps it’s not the beginning – but some news came out today that should cause each and every one of you to sit up and pay attention.

The US dollar slumped to an all-time low today – never before has the US dollar been worth less since it’s been independently tracked against foreign currencies in 1973. This could be the tipping point for our inevitable economic downward slide…with potential for a much larger magnitude than the economic crisis of the 1930′s.

Read about it on Bloomberg

If you’re not aware, the United States currently spends more than it makes and has to borrow money from foreign nations just to keep the lights on. Our government does this so they can print more money and spend that money into existence. Problem is, each time we create money, we devalue the currency that is all ready in circulation – it’s called inflation. This inflation has been occurring at an unprecedented rate over the last five years due to untempered spending in Washington.

Why the crisis? Well, two reasons. First, this devaluation impacts the desirabilty for investors to back the US dollar as better performing currencies will be a more likely choice for better returns. This means less people will invest in the US dollar, thereby decreasing the money we can create without out-of-control inflation, furthering our inability to pay our bills. Second, with the foreign investment dependence we currently suffer, foreign nations will favor stronger currencies than our faltering dollar. Countries like China have significant reserves of US currency – dumping these in favor of stronger currencies means our debt comes back to bite us like a rabid dog. These two things combined mean that people will start to transition their wealth into other currencies or precious metals, if they’re aware enough to do so. If this sustains and goes supernova, the US economy could come crashing down like a house of cards because of our reliance on these investors.

All I’m waiting for now is the first major bank to crash – at that point, we will have entered an irreversible trend that will catapult the economy towards the floor.  If you don’t think that can happen – you should be learning about the growing number of mortgage defaults, the worldwide housing market crash, imploding hedge funds and systemic risk.

I’ve written about the investing into precious metals and I still advise it as the most sure bet of sustaining the hard times that could be ahead. Gold has rocketed past $800 per ounce, up hundreds of dollars from where it was even months ago. Silver, albeit a more volatile market than gold, has seen recent spikes upwards of 30% from where it was just few short months ago. These precious metals are also inclining at a faster pace against the US dollar than other currencies that are performing better, such as the Canadian dollar.

Speaking of the Canadian dollar, I wrote awhile ago about the Canadian dollar overtaking the US dollar in value. In just a few weeks, we’re now seeing that it’s nearly 8 cents over the dollar, or 8% higher. (Read another, US currency is worth 8% less) Further evidence of our rapid downward spiral. I did a comparison of the Canadian dollar and the US dollar against the Swiss Franc recently in order to prove the anomaly wasn’t just the Canadian dollar performing better than average. The Swiss Franc is widely regarded as one of the most stable, unwavering currencies in the world and is therefore a good choice for comparison of inflationary effects. The graphs showed that, yes, the Canadian dollar was doing better…but by far, the US dollar was declining at a much more rapid pace.

Anyhow…that’s what I have to say for now. Pretty serious stuff, I know…but you need to pay attention to it because it WILL ultimately affect you. If you want to know what you can do, look at who I support – Ron Paul.

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As I often do, I was checking out gold and silver prices and the general strength of the US dollar when I discovered something that shocked me. The Canadian dollar has surpassed the value of the US dollar for the first time, that I am aware of, in over 30 years. (Update: Since November 25th, 1976) Right now, a single US dollar is worth about 98 cents Canadian. Every Canadian can start doing the happy dance – they can actually come to the US and have better purchasing power than they do at home.

This is a perfect example that shows the declining US economy and reveals the direct result of inflation. You absolutely need to know about this because this means that anything holding value in US dollars, such as your stocks, bonds and savings accounts, are actually LOSING value a lot more rapidly than you might think. This also means that your savings will be able to purchase less as time goes on…stay tuned and I’ll show you how you can stop this.

Historical currency charts for at least the last ten years show this is indeed a rare moment and that the value of US currency, when compared to the Canadian dollar, has fallen by over 50 percent in the last 10 years. Take note of the slight dip shortly after 9/11, a short burst upward and then a rapid decline thereafter.

If we look at just the last five years, roughly the time frame that we’ve been creating tons of new money to fight the Iraq war, we see a steady decline of the US dollar’s value. Think they’re intertwined? You betcha. This is the direct result of inflation, which is what happens when we create new money with nothing of value to back it. Take note of the downward trend, since October of 2002, from $1.60 per US dollar all the way to actually being less valuable than the Canadian dollar. That’s a 60% loss of value!!!

Just to bring this rapid decline into the “how quickly it’s happening” perspective, I’ll show you just the last year. We see about a 15 percent drop in value just since October of last year. If this trend continues, we’ll be in some dire straits in no-time.

And just in case that’s not enough for you, you can see that over the last 30 days, we’ve declined another six percent. Six percent in 30 days???? Ouch…that kind of hurts. Well, maybe not me…but I feel the pain of all you believers out there that have their life savings dumped into the US dollar. Boy, am I glad that I never reconverted my Canadian money back to US dollars from my last trip. I’ve made almost a buck because of this!

Pretty depressing, huh? I think so. I remember the days when I could go to Canada and get some fantastic deals because the US dollar was so much stronger than the Canadian dollar. Those days have been dwindling to an end…and the end is now here.

If this isn’t your wakeup call to get out of the US dollar, I don’t know what will be. If you think all your stocks, bonds and savings accounts are making you money – you better think again. You’re losing to the inflation tax. Trends for the stock & housing markets look just as dismal as of late – yes, the US economy is crashing. If things keep going this way, there’s going to be a lot of sad people out there.

I’m not too worried myself, and for all I care, the trend can continue. You see, over the past several years, I have been transitioning over 90% of my savings into real money. What is real money, you ask? It’s the lore of yesteryear…gold and silver. Ayyyyyyyyeeee mateeee! And I’m not talking about paper silver & gold, as in the stuff traded on the commodities market…I’m talking actual gold & silver. I’ve been doing very well too…when investing in precious metals, a failing US economy, inflation and declining dollar values actually benefit me. Shown graphically, here’s what gold has been doing over the last seven years:

I have particularly enjoyed being in the silver market as I believe it’s greatly undervalued and has an opportunity to explode to levels we haven’t seen since the 80′s. With reports of paper-based silver commodity trading outweighing actual supply by more than two thirds, Wall-Streeters are trading something that doesn’t actually exist! From cursory knowledge of “supply and demand” (you remember that don’t you?), physical silver a prime place to be if those paper silver owners ever actually want to take possession of said silver. The last seven years of silver’s value show a steadily rising trend, just as we saw with the gold trends.

So, if that’s not enough to convince you to bail on the US dollar, I don’t know what will. Admittedly, by doing so, we would nearly insure the collapse of the US dollar. The way I see it, it’s the inevitable result of failed monetary system consisting of a privatized central banking system called the Federal Reserve and decades of financial policy that give no regard to wise fiscal management. We need to do away with the Federal Reserve anyhow…so I really see it as a means to an end. Sure, it’s gonna suck…but if you start planning now, you *might* just escape while there’s time.

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What do you need to know about American economics? Two words: Federal Reserve.

Whether or not you believe there is a potential for an impending collapse of the American economy, it’s important to understand certain things about economics. With information just beginning to leak about the “housing bubble” crisis, we’re on the brink of a severe economic downturn. A lot of people are going to be wondering how things got so bad…well, there’s a reason…but I’ll be damn if the media doesn’t want you to know about it.

It’s kind of funny…when I hear media puppets talk about the strength of the US economy, I immediately take offense at the mere notion of it. What we have is a falsely created economy…with it’s only strength coming from our tolerance of extreme debt and willingness to enslave future generations to an ever-increasing national debt and subsequent economic slavery. America’s national debt is approaching nine trillion dollars, thanks to fiscally irresponsible politicians, which amounts to roughly the equivalent value of every person’s economic output, vehicle, building, natural resource, and everything else in a single US timezone. Did you know that your portion of that pie is around $30,000?

We hear talk from politicians about “balancing the budget”…or more succinctly put into layman’s terms, to stop going into debt. This is what is commonly known as the federal defecit…it says nothing about paying off the federal debt. A lot of American’s believe we’ve paid off the national debt at one time or another, but I assure you, we’ve been steadily increasing debt since this country started. What you’ve likely heard is the balancing of the defecit…and that’s seen only rare, fleeting moments in our history. The problem with the debt began to get out of control with our third economic system in the US, the central banking system called the Federal Reserve. The problem has been exacerbated by financially corrupt politicians that fully believe money grows on trees. This is what our debt trend actually looks like for the last sixty-five years, corrected for inflation using year 2000 dollar values (ummmm, yeah, those numbers on the y-axis are TRILLIONS of dollars):

Now, you need to know that the Federal Reserve is no more federal than Federal Express. (Doublespeak, anyone?) It’s a corporation, a bank to be precise, and it’s not run by elected officials…but rather, very wealthy elite. The relationship of how our government interacts with the Federal Reserve in the process of creating money is a bit outside of the scope of this post, but suffice it to say, the creation of almost every dollar incurs another dollar towards the national debt. In the end, where our previous economic systems were plagued by inflation…with the Federal Reserve, we now incur both inflation AND a rising debt that must be paid back. Some say that’s the price of having a stable economy…but eventually, if not properly managed, the latter will become increasingly instable.

I’ll ask you some simple questions…what happens, if you personally, incur much more debt that you are able to reasonably pay off? The people that lent you the money will eventually want to be paid back, right? If you’ve exceeded your ability to pay, what risks are you taking? If you’re unable to pay off your debt, what is your financial future? Where does all your money go and how will you manage to live? Debt is not a freedom…it is the acceptance of financial dependence.

Now, put that into the context of a country. What’s our economic future if we continue to overspend well over $1 billion dollars PER DAY? Will lowering the interest rates help? No, that just reduces our ability to pay back the national debt as we’re inclined to borrow more money. Will raising tax rates help? Well, if we all accept a 75%+ tax rate, sure…but then, what does that do to the economic viability of each one of us?

Another interesting question is: Who do we owe this money called the “national debt” to? Well, without going into bonds and other technical aspects of monetary expansion, it’s graphically explained here. Note the two largest slices of the pie – the Federal Reserve and “Foreign and International.” The latter worries me…this means that we are financially dependent on foreign interests. You’ve probably heard that “China owns everything” or some simple concept like that on the news…well, now you can put two and two together. Oh, and remember what I said earlier about the Federal Reserve being a corporation? Yep, all that interest and profit goes to the benefit of wealthy, private individuals.

So, what to do about it? Is there anything you can do about it? Frankly, likely not…except for kicking a vote in 2008 for Ron Paul. Instead, what I’ve done, is to implement the gold and silver standard into my financial life. It seems to be a much more stable investment than other potentially disastrous stocks, bonds and other artificial money schemes. The paper commodities for silver and gold are increasingly volatile, with excessive trading that far outweighs actual supply. And it’s hella fun and gratifying to be involved in physical precious metals. No longer is the value of my savings compromised by inflationary rates and irresponsible financial management. I’d encourage you to do the same…some day, you’ll thank me for it.

Watch this video from Ron Paul, one of the few Congressmen to “tell it how it is” in the entire body of Congress:

Click here to view the video!

For a goldmine resource (bad pun intended) you should check out the Gold Is Money forums. You can find varying degrees of opinion about our economy and solid financial advice, all for free. If you’re interested in finding out just how deep the rabbit hole goes when it comes to the Federal Reserve, you should read the following books: The Secret World of Money by Andrew Gauze and The Creature from Jekyll Island by G. Edward Griffin. Both are excellent books.

For the lazy those that don’t have patience for dry books, you really need to watch America: From Freedom to Fascism. You can also rent it from NetFlix or other online video place. In my opinion, it’s worth every penny of the purchase price, too.

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April 21st, 2006

The Honorable Cathy McMorris
United States House of Representatives
1708 Longworth House Office Building
Washington, D.C. 20515-4705
(202) 225-2006

Jeff Whiteside
[Contact Information Redacted]

Dear Honorable Cathy McMorris,

I would like to express concern over the Federal Reserve’s recent decision, on March 23rd, to cease publication of their M3 monetary aggregate report. Though this reporting change has been touted as a “minor policy change,” there is growing concern that this bold move may have been done to cover up explosive monetary expansion. As the Federal Reserve is not run by elected officials, I feel it is critical to have a full release of all monetary details to allow oversight groups and individuals the ability to review all available data relating to our currency system.

The M3 monetary aggregate represents nearly three and a half trillion dollars of our total economy and is the only report that gives the “bird’s eye view” of our country’s economic health. Though many in these circles may consider three and a half trillion dollars as inconsequential and “not worth the effort” to track, I must disagree as it represents nearly one third of our total economic system.

As you are probably aware, we have seen a marked increase of silver and gold prices, energy prices, as well as continually rising interest rates. All of these items are indicating runaway inflation and a rapid devaluation of the American dollar. This should be a source of concern considering our monetary system’s declining value in comparison to currencies such as the Euro. In times such as these, the M3 data is critical to insure that the Federal Reserve is keeping our economy’s best interest in mind.

I would urge you to support the effort to force the Federal Reserve to continue publishing the M3 monetary aggregate report. Congressman Ron Paul of Texas has introduced H.R. 4892 in an effort to bring about this change, and I feel it is important enough to receive your attention and support.

Thank you for taking the time to read this and for any correspondence.

Sincerely,

Jeff Whiteside

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April 10th, 2005

The Honorable Cathy McMorris
United States House of Representatives
1708 Longworth House Office Building
Washington, D.C. 20515-4705
(202) 225-2006

Jeff Whiteside
[Contact Information Redacted]

Dear Honorable Cathy McMorris,

As a new resident of the State of Washington, I am writing to express deep concern over the rising cost of gasoline in our region. Based on consumer price indexing, standard inflationary rates generally increase prices about two percent per year. This sharp incline of petroleum prices have been rising at a rate exceeding over FIFTY PERCENT per annum. This price gouging is absolutely intolerable and needs to have something done about it immediately.

With the United States of America being a primary contributor and controlling faction of OPEC, I realize we have greater control over the price at the pump than is traditionally admitted. We are becoming less ignorant of what is really going on and more educated that a dollar at the pump means BILLIONS of dollars into the pockets of oil industry constituents. Supply and demand, in this case, does not follow traditional economic behaviors when the supply is heavily regulated to benefit those that control the supply.

If you are interested in what experts believe is happening with the world’s oil supply, I would highly recommend watching the well received documentary “End Of Suburbia: Oil Depletion And The Collapse Of The American Dream” for well-researched information regarding the “oil peak” that we will eventually face.

There are viable economic alternatives for fuel, such as Bio Diesel and hemp oil, which can be readily used in existing vehicles – costing a fraction of traditional petroleum. These technologies are available now, are both renewable and cleaner for our environment, are just as easy to distribute, and would highly benefit our local economies and farmers. Why, after over ten years of debate regarding alternative fuels, has nothing been done???

We are tired of all the lobbyists and big oil money influencing the decisions and opinions of our leaders and demand greater action! What is in their interest is NOT in our interest and we are waiting for someone to stand up and take action. As one of our great elected leaders, we hope that you will stand up for our interests and put a stop to the price gouging and immediately take action on alternative fuels.

Thank you for taking the time to read this and for any correspondence.

Sincerely,

Jeff Whiteside

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