Saturday, April 20, 2013

NatGas Spikes To 21-Month High, Market Must Loosen To Prevent Winter Surge To $8

Natural gas rose to near $4.40/mmbtu today after the Energy Information Administration reported that operators injected 31 billion cubic feet into storage last week, below the 33 to 38 bcf build most analysts were expecting.

The injection was above last year’s build of 23 bcf, but below the five-year average build of 41 bcf.

In turn, inventories now stand at 1,704 bcf, which is 797 bcf below the year-ago level and 69 bcf below the five-year average (calculated using a slightly different methodology than the EIA). (more)

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7,000 Tons of Gold Bullion Removed from Fort Knox From 1973-74!

We have discovered the manuscript of a 1981 article by The Globe which reported that 7,000 tons of gold bullion were removed from Fort Knox from $1973-74, and the only bullion that remained was from melted down gold coins & was of such poor quality (at least 10% copper) that it would not be accepted on the open market by any nation.
“300 truckloads of bullion were simply driven away.” 

 The American Gold Commission in Washington will this week begin an examination of Treasury documents to decide whether 7000 tons of gold, enough to fill 300 lorries, has been stolen from Fort Knox, the world’s biggest and most protected bullion store.
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Protect Yourself Before We Get Cyprused As Well / by Jim Sinclair /

Dear CIGAs,
The Official Fed document below says we will be Cyprused regardless of the barrage of denials being produced since we were so informed by the IMF and Dutch finance minister.
Day by day the safety of your deposits and retirement accounts becomes less. Are you ignoring it?

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Copper Inventories Rising

Since bottoming in October 2012, inventory levels of copper have risen 190% in warehouses operated by the London Metals Exchange.  That’s a huge and rapid increase, and it conveys a powerful message about the future for copper prices.

Back in September 2012, spot copper prices topped out at $3.81/pound, and they have now fallen 18%.  In terms of big drops in copper prices, this one does not rank very high among the big drops in copper prices over the past few years.  But it is producing a huge and rapid rise in copper inventories.

It is normal for prices and inventory levels to generally move in opposite directions.  When copper producers don’t like the market price and think that they can get a better one by waiting, they put their production into warehouse storage and wait for better times.  When prices rise up to or above a price level that the producers like, copper starts coming back out of inventory and onto the market.  So watching copper inventory levels can give us insights about where the producers think a fair price is. (more)
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The Secret World of Gold

The Secret World of Gold is a documentary exploring the power and politics of gold, a precious metal with more allure and fascination than any other.  Valued for its permanence, beauty and scarcity, people will lie, cheat, steal and kill in the name of gold.

To finance the Third Reich, the Nazis went after the gold of Europe. Allied countries stored their gold offshore to keep it safe. In the first months of the Second World War, the gold of England and France was secretly shipped to vaults in Montreal, Ottawa and New York.

Those ships made it safely to port, but throughout history, many were not so lucky. It is estimated that worldwide, 3 million shipwrecks loaded with treasure lie at the bottom of the ocean. Odyssey Marine, an American company listed on the NASDAQ stock exchange, spends huge amounts of money to search for that gold. But there’s always the risk they will have to hand it over to countries claiming ownership.

France's gold was sent to North America during the war. Find out what happened to one shipment on the Emile Bertin.

In recent years, economic uncertainty is giving gold a new lustre in the world of high finance. Whether it’s a few gold coins or gold bars stored in one of the many vaults around the world, many investors are taking a shine to gold. But there’s not a lot of it. It is said that, even melted down, there would not be enough to fill an Olympic swimming pool (or maybe not - see sidebar)

Some claim that much of the gold held by the Bank of Canada, the Bank of England, the Federal Reserve and Fort Knox is gone — that for every 100 ounces of gold traded, there exists only one ounce of real, physical gold. So, where is the gold — and who really owns it?

Directed by Brian McKenna for Galafilm with CBC-TV.

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The Pension Crisis & Interest Rate Nightmare

Pension & Debt Crisis / By Martin Armstrong / April 19, 2013
We are preparing a very important report on the Global Pension Crisis and the Interest Rate Nightmare that we face. Government will not reform. There will be no HYPERINFLATION because they have no intent upon just printing to meet obligations. That historically has taken place only in governments that are in the process of revolution, as was the case in Germany following the German Communist Revolution of 1918 known as the Wiemar Republic that set the stage for Hitler or Zimbabwe. When we are talking about established governments, they have always turned historically against their own people and confiscated assets. Forced Loans were common during the Middle Ages as well.
So we face a Pension Crisis of two fronts – (1) manipulated interest rates kept far too low that has deprived pension funds of income sending them into the insolvent arena, and (2) government have convinced themselves that if they can confiscate those assets that in the USA are $20 trillion, they can achieve by Forced Loan the funding of the national debt at $17 trillion and they retain power.
How will this resolve itself? How can we prepare for FORCED LOANS? What happens as the Sovereign Debt Crisis unfolds, can interest rates remain artificially low?

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