Eric Sprott: The US Gov’t May Be Exporting German Gold to China!

from Silver Doctors:
Eric Sprott’s Shocking interview with The Doc is below:
The Doc asked Eric how tight the physical silver market is currently, and if he might soon be able to achieve his goal of not being able to source the last bar of silver for an offering:
That’s always one of my dreams! Some of the things that those in the precious metals market might hope for: 1. Money printing- I mean who would have imagined when they got involved in 2000 that we would see money printing which began in 2008/2009?
And then we see bank runs, which are two of the most wonderful things for precious metals owners, because those are reasons you own precious metals, and then you see the physical demand coming through, these are the perfect things that we want to see.
Read More @ Silver Doctors.com

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Moody Cuts UK Credit Rating

If anyone doubts we are in a serious Sovereign Debt Crisis, then explain why even the Credit Agencies are cutting the credit ratings of sovereign nations. There was France, and now there is the UK. Moody’s cuts the UK Credit Rating to Aa1 from Aaa, citing weakness in the nation’s medium-term growth outlook that it now expects to extend for a number of years. Europe should put in a NEGATIVE growth rate in GDP for 2013. We are in absolute denial that the world around us is crumbling. Only those who are on point and think outside of the box will even survive. The rest as usual will see their futures stripped from them. This will be the most important event in our lifetimes. 

The last generation that saw the Sovereign Debt Crisis of 1931 watched over 3,000 banks fail in the United States and capital simply when into hibernation. Government is doing absolutely everything they could do wrong at the perfect time to ensure we are in a shit-load of trouble. Forget the hyperinflation nonsense. These people are not about to print into oblivion. They are under pressure from the bondholders to pay and that means austerity, reducing spending, and raising taxes. Just look at these policies and their effect in Greece. Welcome to the real world where reality cannot be ignored forever. Interest rates will rise and as they do – oh boy! This is the serious issue of the Sovereign Debt Crisis.

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BMO Advisor Coxe: “This Is the Worst Trading Situation I Have Ever Seen”

Don Coxe Taking inspiration from George Orwell’s “1984,” renowned BMO advisor Don Coxe has coined the expression “Weakness is Strength” to describe the current economic situation. In a far-ranging interview with The Gold Report, Coxe explains how an international regime of weak currencies has set the scene for a upsurge in the price of gold shares and believes that gold will return as a preferred hedge against loss of value because inflation is inevitable.

from The Gold Report
The Gold Report: Your investors’ report last week was entitled, “Orwellian Currencies: Weakness is Strength.” Could you please explain?

Don Coxe: In his classic book, “1984,” George Orwell’s Big Brother rules society with three slogans: “War is peace. Freedom is slavery. Ignorance is strength.” I coined the slogan “Weakness is Strength” to sum up the idea that a weak currency creates a strong economy. But it has to be weak like Goldilocks’ porridge: Weak enough so that domestic industries can still sell products abroad, but not so weak that people dump government bonds and cause a financial crisis, which is the situation that threatened the Eurozone when the euro went south 18 months ago.
Continue Reading at TheAuReport.com…

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Gasoline Prices Rise 34 Straight Days: Are Speculators to Blame? If Not, Who Is?

by Mike Shedlock, Global Economic Analysis:
Given a two-day plunge in crude futures, gasoline prices may have hit a temporary peak.
Nonetheless, consumers feel the pinch as pump prices have risen 34 straight days. For only the fifth time in history Gas prices topped $4 a gallon in District of Columbia.
Nationwide, the price of a gallon of regular gasoline climbed to $3.78 a gallon, up 47 cents in the past month, the AAA said.
In parts of California, Gasoline Prices Topped $5.00 on February 5. CNN Money has an interactive Gas Price map to check prices in your state.
Read More @ GlobalEconomicAnalysis.blogspot.com

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Economics in One Lesson

Henry Hazlitt wrote this book following his stint at the New York Times as an editorialist. His hope was to reduce the whole teaching of economics to a few principles and explain them in ways that people would never forget. It worked. He relied on some stories by Bastiat and his own impeccable capacity for logical thinking and crystal-clear prose.

He was writing under the influence of Mises himself, of course, but he brought his own special gifts to the project. As just one example, this is the book that made the idea of the “broken window fallacy” so famous.

What thrills us in particular about this new edition is that it is beautiful, it is hardcover, and it is newly typeset for modern readers. It has a full index. It includes a wonderful foreword by Walter Block. It’s the right size, shape, and feel – perfect for making this book central to all educational efforts of the future.

This is the book to send to reporters, politicians, pastors, political activists, teachers, or anyone else who needs to know.

Professor Block explains that it was this book that turned him on to economics as a science. He believes that it is probably the most important economics book ever written in the sense that it offers the greatest hope to educating everyone about the meaning of the science.

Written for the non-academic, it has served as the major antidote to fallacies in the popular press, and has appeared in dozens of languages and printings. It’s still the quickest way to learn how to think like an economist. And this is why it has been used in the best classrooms more than sixty years.
Many writers have since attempted to beat this book as an introduction, but have never succeeded. Hazlitt’s book remains the best. Even if you own this book already, or have several past editions, you will want to have this book as your own as a wonderful testament to its place in the world of ideas.

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Speculators Exit from Gold Market Continues

This week’s Commitment of Traders report indicates a continuation of the trend that has been in place for some time now when it comes to gold, namely, the mass exodus of speculators from the gold market. Not only that, more and more hedge funds are playing gold from the short side of the market expecting lower prices in the future.
The following chart pretty much says it all. Take a look at the sharp drop in the number of outright long positions hedge funds are holding. Do you see the plummeting line. Is it any wonder that gold is plummeting lower? And what makes it even more noteworthy, is that this report DID NOT PICK UP the plunge through $1600 on Wednesday and the subsequent further pressure down towards $1555 the remainder of the week.

READ MORE
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Stunning 225 Tons of Physical Gold Bought By CBs

from KingWorldNews:
Today whistleblower Andrew Maguire told King World News that Eastern central banks have taken a massive 225 tons out of the physical gold market on this recent takedown. This is the first in a series of interviews with Maguire lifting the curtain on what is going on behind the scenes in the ongoing gold and silver war which continues to rage.
Andrew Maguire continues @ KingWorldNews.com
 

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