Treasury Releases Results of NY Fed Gold Audit – As anyone with a simple calculator can discover, the Treasury department has just inadvertently admitted that rather than the official 8,133.5 tons the Treasury reports as the US’ official gold reserves, the Treasury’s actual physical gold stores at the NY Fed are a measly 466.57 tons! No wonder it will take the Bundesbank 7 years to repatriate 300 tons!
The Silver Shortage Of 2013 – First, let’s review the global scramble for silver. How much of a problem is it? Well, it’s not just the U.S. Mint that has to worry about supply. Industrial users are in a bind, as well. I mean big, important companies. The bottom line is that silver is hard to get. You have to plan ahead to obtain the metal, and even the U.S. Mint gets its numbers wrong, now and again.
When Gold Turns It Will Trade Violently To The Upside – From Bill Fleckenstein: “We’re into the phase where it doesn’t matter what the news is, gold just gets sold, and it’s got a certain amount of momentum. When that happens on the upside that’s usually near the end (of a move), and so I think we’re probably near the end of the correction. I think we are pretty close to the low … It could have been Friday, it could be any day, but I don’t think it’s very far in the future.”
Turk – Central Planners Are About To Completely Lose Control – Importantly, gold and silver still remain way undervalued. So when I look at last week, I take the opposite view of most people who own gold and silver, many of whom wince when they think about last week. I see it as an opportunity to do what I have been recommending for 12 twelve years now, which is to continue accumulating gold and silver on a cost-averaging plan because they remain good value. Gold and silver will get you through the train wreck coming at the hands of the central planners. “Currencies are being mismanaged, and gold and silver are the best protections against the erosion of the purchasing power of national currencies.
The Collapse Of The US Dollar – MUST READ – The economic situation looks under control currently, that’s because we are now in the eye of the storm. The longer this unbalanced situation goes on, the faster and more severe the eventual collapse will play out. The main theme is that governments in the US and Europe have lost complete control over their spending and borrowing, which must ultimately result in a catastrophic crisis. Soaring debt accumulation, along with Europe Japan and USA race to devalue will continue until some kind of crisis arises; either internally or globally and when the markets blowup, it will bring about an abrupt END to this charade. The 2008 crisis was not the final collapse. The final chapter of the 2008 – 2009 meltdowns is still ahead of us. Worldwide debt stands at $220 trillion, a figure that when compared with world GDP of $62 trillion, shows a debt to GDP ratio of 350% and still growing. Common sense should tell you that it is not sustainable.
The Cartel’s Metals Attack – Sean from SGTreport.com has released an interview with Andy Hoffman discussing the latest attacks on gold and silver and says, “For the first time I’ve ever seen the cartel doesn’t even use cover any more. They have been hitting gold and silver with impunity. It’s the most oversold I’ve seen in at least three years, and all the fundamentals are stronger than they’ve ever been. I would say that today is the most undervalued gold and silver prices have been in my entire 11 years in this sector.”