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IMF Is Now Rejecting Prospective Buyers For Its Gold Stash
In an exclusive report, Kitco has just released yet another stunner in the world of precious metals. It turns out that Eric Sprott has attempted to purchase gold from the IMF, according to information provided to Kitco by Frank Holmes, CEO of US Global Investors. "I just spoke with Eric Sprott, who bid to buy [the IMF's remaining gold on the block] and they refuse to sell it." As Kitco points out, "the IMF might be holding out for a bigger buyer or a central bank or for higher prices. But Holmes argues the IMF's rejection of Sprott's bid means markets are being manipulated." Back to Holmes: "I think there is a lot of manipulation done by governments around the world in the currency markets which affect the bond markets so to me it's just normal course." Holmes concludes "with an election year there may be a gold rally that could be two standard deviations, or $300 dollars, to the upside. So you could see gold run to $1300 to $1500 quite easily." This all is occurring as ever more pundits finally realize that as fiats are discredited across the world, the only safe, non-dilutable resource is gold.
Link to Kitco clip (select clip titled IMF Reject Buyers):
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The gold is slated to cover the central banks who leased out their gold and are now shitting their pants because they cannot buy it back in bulk without driving up the price and unsettling the ponzi shorts on Wall Street. The physical market is tight.
If this is not the case, why won't they take bids for it from 'outsiders?'
This gold sale and the Bank of England gold sale were in relief of the bullion banks and their government bureaucrats who get caught short. That is why they abhor the idea of audits as well. They do not have what they say they have. They lent it out, and it was sold.
+100
Some day in the not-too-distant future, oil-producing states will stop accepting the paper promises of bankrupt economies/states as payment for their precious and finite resource. They will demand settlement in Gold.
Until that day, the games and fraud will continue unabated at the CRIMEX.
When that day comes and JPM and the other bullion banks are forced to cover their mammoth naked short positions, we will see what happens when a "beachball held underwater" is finally released.
Unfortunately, as long as our military is parked in their backyard, that day will never come.
I dunno...how long do you think we're gonna be able to fund the military? Maybe a long time, but not forever.
That our military might will be preeminent will likely be a relatively short time frame, shorter than consensus expectations by a very long shot. Policies afoot will force a watershed choice between socialism/populism and military dominance. The former will prevail resulting in a hollowed out, name only image of days past power projection akin to the UK in the post war period.
Consideration #2. If you were Sprott, India, China, et al, wouldn't you be in favor of assaying of every single last bar of which you'd expect to accept delivery?
Of course.
Just wild speculation, but where are those 440 Tungsten billets hiding? Nice sleight of hand if it was the IMF's. Who better to play beggar thy neighbor. Just think...if they're the ones stuffed with the salted ingots, having taken delivery under LBMA delivery standards.
What recourse? What remorse! Shakespeareian. A continued boost to the supremacy of the almighty dollar. Cheers!
You mean this ??
http://www.huffingtonpost.com/2010/03/26/at-war-military-orders-wi_n_514566.html
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Well, it's about as long as needed to depose the leadership.
They don't care about the country, only themselves. If we engaged in Romanesque wars of conquest, we could fund on what we looted.
Hell, there was a significant petrodollar component to the removal of Hussein. Everyone there knows that.
yeah we stopped his oil for euro trading.. and all his currency reserves of Euros.... a few months after the war we changed all that back and then we saw Bush declare victory.. since that WAS the goal
As long as we have the privelage of owning the world's reserve currency, we will continue to do what we want. I am very pro military and believe in a strong defense, but, some of these other expenditures? Hmmm.
I believe in a strong defense, but I don't believe in occupying the world, carrying on two+ extraneous war campaigns, and generally overextending. It's fiscally irresponsible, has little to do with national defense, and historically has never worked.
I have little confidence that we will retain the world's reserve currency status for very long.
beyond me why you spend all the money on the military and imposing your capitalistic US values on the world .. when one speaks of freedom, do you have it? the sabre rattling by Paulson and others was permitted - threatened national guard? obviously short memories!
capitalism in the US means corruption and greed, no more evidenced that the TBTF bailout ,,, what happened to main street? shall we look at cheney? what about gore? just a bunch of opportunistic hypocrites ..
your politicians do not give a crap about anything other than their own political position and you bleat about military strength .. get real and fix up your internal problems first before dictating to a world as to what is right and what is wrong ...
beyond me why you spend all the money on the military and imposing your capitalistic US values on the world ..
Its that old classic that never goes out of style called 'Empire"
I disagree.
I believe that oil producers will soon decide that accepting Bernanke bucks (or other forms of fiat toilet paper) as payment is too steep a price to pay for "protection" by the US military.
And furthermore, it remains to be seen how credible US military "protection" will be in the face of rapidly deteriorating government finances.
It's protection FROM the US military.
That's how a protection racket works. They have no other real enemies. Iran is not going to be invading KSA irrespective of their national rivalry.
In fact, nobody is. We deposed the only dictator in the region that had any kind of significant armor capacity. The other major nations already host our bases or are under massive sanctions.
Exactly.
My gut is that the Palestine issue could be the thing that blows up in the face of the US. KSA is captive, and Sunni and Shia are in a race with each other to be the most fundamental of believers, and the oil exporters want stability of production, but beyond all of these barriers to a souring of relations with the US is that every Muslim can rally behind the Palestinians.
The problem is that the US and Israel may be in a lonely position among world powers against such an alliance. This set of circumstances would put tremendous pressure on the dollar. The energy required for the war machine is mammoth. I don't know that Europe and Asia would side with the US if they invaded SA. I feel like I'm outlining WW3.
It's a stretch for KSA to turn, but the vector of current events is in that direction. Thoughts?
That's how a protection racket works.
"You got a nice little country here. Be a shame if anything bad were to happen..."
The moment the Saudi Family breaks bonds with the U.S. government, they will be murdered by their own citizens. So the U.S. and the Saudis really need each other.
Of course this only holds true as long as they have some believable spare capacity and that is vanishing rapidly. They *have* proven in the past that they can produce more than they do now, but that was all heavy sour instead of light sweet.
When the rapidly rising water level finally kills Ghawar, thats when the real trouble starts.
Until then the world economy will carry on through sheer momentum, people doing their daily work even in worsening conditions, because they have no other choice. And politicians, central bankers and all others who benefit from that momentum will do whatever it takes to keep it alive as long as they can.
If an oil producing state demanded gold, then the gold price suppressors might be tempted into reversing their manipulation tactics and driving the price of the yellow metal up so that an ounce of gold was worth 100 barrels of oil.
Mmmmmm.....donut. Yes me like my Kinross holdings
Some day in the not-too-distant future, oil-producing states will stop accepting the paper promises of bankrupt economies/states as payment for their precious and finite resource.
Yeah and some day they might actually figure out how to refine their own oil without outsourcing it to western companies and tehnology.
Holmes concludes "with an election year there may be a gold rally that could be two standard deviations...
What is the effect of election year on gold prices?
unless Ron Paul wins.. probably nothing
When the IMF sells gold, it simply amounts to making small accounting entries in the books of member states. Sprott, as far as I know, is not a member of the IMF. Arranging a physical delivery to Sprott would have been problematic for the IMF, to say the least...
What if the IMF really doesn't have the gold it claims that it does?
Why do you think they are interested in helping Greece? They are nothing but a crew that moves in and busts the joint out. Ever watch The Sopranos?
Maybe Sprott is calling their bluff? Maybe that is the point? Got gold IMF? Nope.
You are ASSUMING the IMF has ACTUAL physical gold bars for sale of the correct weights and purity. You see, the IMF appears to only want to keep the gold hidden via central bank sales. If someone independent wanted gold, no matter how deep their pockets, then this gold would be 'public' and open to being fully scrutinized via weight, measurement and for gold content.
Am now 100% convinced the IMF HAS NO ACTUAL GOLD BARS, because central banks just use ledger notation and never get audited. The IMF relies on partners to hide the crime.
DISCLAIMER: Am good friends with someone very close to Eric Sprott.
Jesse will you open up commenting on your site please? Camon.
But, but they told us there were no buyers for this gold and they'd have to dump it on the open market...or put it on ebay or something to get rid of it and end its cluttering up of their offices. They can't have lied to keep this trivial amount of gold (in the big scheme of things) with it's completely outsized psychological impact hanging over the market could they? Who would do such a thing?
That's what they said, but I always considered it to be just jawboning to bring the market down. I was a bit shocked that they actually parted with what they did, but clearly there would have been repercussions had they withheld sales after they made (yet another) announcement.
You know why the IMF won't sell to Sprott?
The IMF knows Sprott will demand delivery to a non-London location.
Amen brother.
"What do you mean you want the gold shipped to you Mr Sprott? Look at this - there's the entry in the ledger saying it's yours now. That's good enough for everyone else!"
Does bring a smile to my face...
Yep, Sprott is in Canada and guess who is on their board - Dr. Marc Faber.
There is something about your post Pladizow that I find interesting....can't figure it out...what is it....Faber? No. Hmmmmmm. A ha! I got it! It's the pussie in you Avatar!
I just don't see a cat in that. Nope. No felines.
Dr. Seuss did erotic lit?
I twat I saw a pussie, cat.
Yes, I think you should post more often Pladizow, ah, just because......
just keep it short
DANM STRAIGHT!!! You nailed that to a cross.
Of course theory two, or subtheory to this one, is their gold does not exist, or it is fake.
Say it ain't so MsCreant, say it ain't so. Because if that's true, then there must be a conspiracy somewhere of people and/or entities attempting to suppress the price of Gold and other PM's and possibly even steal my nations Gold, Silver and other precious metal wealth.
That just can't be so. The newspapers and TV tell me there are no conspiracies like this, that anyone who proposes something along these lines is just a tin foil hat wearing conspiracy theorist. The only possible conspiracies that can exist are of those nasty Taliban conspiring with Obama....er...Osama in some cave by the dim glow of a laptop computer hooked up to Verizon Wireless Internet in Afghanistan or Pakistan.
Sprott and IMF are just making this stuff up so we will go out and buy gold in order to drive the price up so IMF can sell it at a higher price. Ditto all those emails we learned about yesterday regarding silver!!! All made up to sell silver.
Yeah, really, that's the ticket [edges carefully towards the door of the coin shop]. Don't let them trick you into buying the crap.
Agreed. However, Sprott does not need to take physical delivery, he only needs to call their bluff. His physical holdings just went up in that most precious of all non dollar denominated commodities:
Credibility
Demand for his physical gold trust most likely went up. Physical possession is slowly draining the gold market of bullion. The superiority of fiat currencies can only be evidenced if they can be used to buy their competitor. One cannot manipulate a market that does not exist because one cannot manipulate what has become priceless. The unit of measure of credibility is not $ but ounces.
+31.10348
when everyone stops trusting each other at the poker game... the cards are discarded and the guns start firing...
Nadler will try and discredit Sprott as fast as he can.
If Nadler told me Osama Bin Laden was not a nice person I wouldn't believe him. When you have zero credibility yourself, it's not really open to you to discredit anybody.
Q, you're really pissed at NAdler today huh? He's a discredited shill for the cartel, he's been bashing gold for years saying gold would not go over 1100, that 1000 would be a double top etc, etc, etc.
You can catch him in Marketwatch under the scree names Americanpatriot, Newbegold, Kodiak kid
Nadler will try and discredit Sprott
and fail magnificently.
+1
Nadler is a windbag and a gigantic mole on the face of kitco.
The fact that Nadler is (still) allowed on Kitco makes Kitco's credibility just as suspect.
Nadler? You mean that ass clown who says the gold market is doomed without the support of a strong wedding season in India?
Funny. True, but still funny...
I thought India was going to buy all this gold. Does anybody know how much was sold, to whom and how much remains unsold? Thanks and cheers!
Nobody knows anything for sure in the opaque as fuck gold market, unless you are a central banker (and only very few of them are likely in on the facts).
For the rest of us, physical gold in your possession is the only thing you can rely on.
And the fact that whichever way you want to look at it, golds real value is way, way above what we have been conditioned to believe.
for mr master bates
They and GATA have been ridiculed and pooh-poohed by many "analysts" in the metals markets and derogatorically dimissed as "tin-foiled hat" conspiracy theory advocates, and yet they have persisted and now, come what may, they have had a chance to make their case heard openly at the highest levels of enforcement within our futures markets. The CFTC does not invite ninnies to testify. Hats off to you both guys! Your critics owe you a deep apology but somehow I doubt you will see that based on the character of some of those who have condescendingly ridiculed you. Your facts and evidence were never disputed by these bomb-throwers – their entire case consisted of ad hominum attacks.
noricini trader .. yadda
Gah! that blonde girl use to work for Jim Cramer no?
Kind of an O/T question, what are your/s opinions on silver today and going forward? Thanks in advance.
My opinion is to buy some silver every week. Dont plan on getting rich from it. That way it's a pleasant surprise if you do. Don't trade it, just accumulate it.
It makes you feel good plus it gives you peace of mind.
when you have the dough .. buy gold ,,silver ... the real stuff .
They'd like to be able to announce the "sale" on a few dozen more opportune market moments before they actually have to pony up and deliver. Information like this is extremely valuable. I agree with Jesse above; the gold is needed to bail out some bank. Gold, being money, is fungible, and it will find its way onto the exchanges, if it hasn't already. As I recall, wasn't there speculation that (I think) ECB sold some gold in 2009 to bail out some dumb ass bank? Truont is also correct; Sprott will want delivery, and will assay. Whoopsie!
deutschebank, was under the gun to deliver, on asian contracts
Mr Sprott will have to use APMEX for that order... IMF not up to the task...
I doubt anyone is.
Best comment of the day.
Kudos to Sprott for calling their bluff. Leave it to Kitco to come up with a convenient excuse. Too bad they contradict their own non-stop "bubble" talk.
It makes me wonder how expensive fixing Greece *really* will end up being...
Wow the success of fractional reserve gold in spades, thanks much for the scoop Tyler. I wonder if Greece has any book entrys they wanna sell Sprott
It is clear, there is not enough gold to go around at market price. Possibilities:
I hope Sprott attempts to take delivery of gold using the Comex futures, then he can share the results with us as well after assaying for gold quality.
Doesn't matter if they have the gold or not, it was never for sale. It was floated by the IMF to create an impression that the price of gold is too high. They are trying to put a cap on the gold upside by pretending that countries are not buying the gold because the price is too high. It helps them to drive the price into the range they want through naked shorting. I am sure any country that expressed interest was told no thanks or "I don't think you are really interested *wink, wink*".
I just saw that China is going to have a futures market on 4/16/10? Is that right? I wonder what effect this will have on the global gold/silver other PM markets.
China has another tool in the financial arms race. I wonder if there is a plan to burn them on paper gold by calling for delivery.
Out of the Fed transcripts by Adrian Douglas, Greenspan calls gold believers "crazies".
Green, baby, crazy like a fox!
I went down to my neighborhood Rolex dealer yesterday and after gaving him the full "barbarous relic" spiel, offered to pay the same price for the 14kt gold Submariner that he was asking for the identical stainless model .
He told me I was "crazy".
Your Jeweler knows the obvious - he would probably sell you a share of that gold watch. Goldsmiths invented fractional lending in the middle ages to bail out a King in debt!
Maybe he has a Tungsten model you can buy...
Since the Tungsten scam was uncovered they don't want anyone prying into their stash!
if they really sold their gold how could they "sell" the same gold 50 more times? The IMF has been scaring people for years about selling the same few tonnes.
It doesn't end. Only a fool now takes a position that the gold market is not subject to manipulation by 'officialdom'.
Amen
OMG all the way this far down the comment line and the self-fornicator hasn't spewed his load?
both hands and mouth are to busy ,,,
Now be nice you two.
The more gold haters the better...
Is there even a precedent for that? Has the IMF ever sold gold to a private buyer? If Sprott wants to by 200 tons from the IMF, why don't they just go long the equivalent in COMEX futures and take the physical?
more and more comex is settling in cash... another effing little detail that no one over there wants public... insane.
A little off-topic but maybe the best thread for this question: is there an on-line gold bullion dealer that folks here have used and can recommend? Though my research suggests it is common practice it seems a bit odd to buying 150 American gold eagles on-line with payment in advance. Help and reassurance is appreciated.
use CNI
Your reasonable question would make a good ZH topic in itself.
There are many potential and marginal buyers who would jump in if pointed to the right sellers.
I have addressed this in past posts, as have others. Frankly, I get fatigued saying the same thing over and over. A focused, consolidated topic on trusted and tested gold markets would be good for the sanity of those who want to do the right thing and hold a few nice gold or silver coins/bullion.
Let's do it Mr. Durden?
go try tulving .. for gold silver. wire um the dough ,, the package will come..
Tulving has been recommended by many ZH-ers.
I once bought 10 oz of platinum from Monex, everything went fine.
Both Tulving and Monex have 10 oz. minimum orders (Au, Pt).
Blanchard, I believe, will sell smaller amounts, my brother has bought gold Eagles from Blanchard in small qty.
NW Territorial Mint has been good to me.
nwtmint.com
Tulving's minimum for Au is 20 oz. (Ag minimum=500 oz.)
I paid too much at Blanchard, and now only buy from Tulving or CNI.
Check out gainesville coins. Wire transfer payment is less expensive, esp. for larger orders.
A review of gold dealers
http://inflation.us/reviews/
haven't bought from tulving but they get good comments. bad website though
Tulving, CNI, APMEX. All are good and good for different reasons.
Tulving is the best price, free shipping, insanely fast shipping. Must pay by wire transfer, very minimum orders, terrible website layout. Order by phone. Note, order is done by roll. I wanted 25 Maple Leafs (family order) but only had the option of 20 or 40. So great for you big spenders out there. Also then run specials like got $15 off for same day wire, which covered the cost of that bank wire.
CNI has good prices, free shipping on orders past 2k, reasonably fast shipping. Alright website. If you pay by check very long check hold time, better to pay by wire depending on your time preference and wire cost. Order by phone.
APMEX, great website, wide selection. Can put your order in my phone and never have to deal with a person. Can order day or night with up to the minute prices. Of the 3 usually has the highest premiums, and $25 for shipping. Moderate hold time on checks.
Of the 3 if I found Tulving the best because of the price, free shipping, and ship speed.
Scottsdale Silver is selling gold now... their premiums aren;t cheap but they got their shit together and sell some nice items...
Initially I used Kitco but the S&H&I was expensive relative to what I bought, 2-5k at a time, so I switched over to APMEX. They charge 25 flat and the price above spot is better than most, again for the smaller quantities. I tend to buy the gold there and bullion silver on ebay. coinflation will give you prices based on spot for various silver coins. hope this helps.
Don't worry, guys, the Fed stands ready to print cash to give to the bullion banks for assisting in any price suppression, if that's what's occurring.
JPM doesn't give two shits about the POG or silver except that it's necessary to help the Fed out.
They'll fill the shorts with GLD shares or else do what the LME did to the nickel longs...force them to lease it for cover and take cash settlement.
I thought that the IMF didn't really have 'its own' gold, i.e. bars in vaults, but only committments from member central banks, i.e. accounting entries. When India 'bought' the 200 tonnes a few months back, did the Indian navy show up in London to take possession, or did they just change 'ownership' on paper (as long as the gold doesn't move. )
Maybe the IMF would have sold to Sprott if he promised not to take delivery. Heck, then the gold wouldn't have to exist at all....
Need to watch Goldfinger again....
In general you are correct. However, they received just over 403 tonnes of gold in their own right as part of their 'Assistance' with the Asian currency crisis a decade or so ago. It is this that they are selling. India took 200t and the rest is apparently only on display in the window, not to actually available to buy.
But did any metal actually change physical address in these transactions? Is posession 9/10ths of the law? Are we really talking about real (assayable) gold?
I would bet there is no "physical" gold just accounting entries and ones and zeros on HAL 2010.
Wonder what would happen if I tried this scam out of my house - selling vapor products. Do you think I would last a week?
Sure, just tell 'em you're Too Big Too Fail!
wot? they didn't buy it? betta get timmay on da line....
Maybe because War is on the horizon.
http://funy1.blogspot.com/2010/03/world-cup-is-near-time-to-kidnap.html
Didn't the IMF elitists sell to 3rd world servant exporter Sri Lanka for a recent Gold market topping 10 billion dollar order?
Now they don't want to sell? Do they want Sri Lanka to sell them back for a loss so they can day trade it to another?
Sorry to keep repeating this like a broken record, but...(can't resist ;-))
http://gordongekkosblog.blogspot.com/2010/03/its-going-to-implode-buy-physical-gold.html
Not to worry Gordon. I read it here at ZH. Your article was favorably mentioned at fofoa by someone.
Gordon's article is a very good update on buying physical gold and why you don't want to wait around...
Thanks for your kind words. Whenever I read something like this it reminds me of a million things to say; then I remember I already wrote 'em down and just point people there. Saves me the trouble of repeating :-)
Gordo:
Any more on that blip of the USA selling 73% of it's gold a couple of weeks ago?
I haven't explored that in detail yet, but if I find something I'll be sure to include it in my next article.
Thanks - just following the breadcrumbs here - IMF is in Washington and now Fort Knox / Westpoint have sold out and the IMF can't deliver? Coincidence, or are they double counting the same gold.....
Well, well. Maybe more monkey business in the gold markets.
I'll be looking for any info from you guys re NO GOLD!
IMF "gold" already "sold", to a bookie who will take the tab, no physical. Japan wants its gold back............no wait, Japan needs its gold back. Look for the sale to be announced when the price is back at $1125. This is the last of their dry powder to slow demand. They want people thinking gold has topped as long as possible. After the IMF announces the sale, within weeks, gold to the moon.
Question for you gold veterans. Bill Murphy, in part of his testimony to the CFTC, talked about how the gold price would be fixed in the past to allow for low interest rates. Does that mean that when yields rise, gold would rise too? Wouldn't that also mean that if this 30 year bond down move comes to fruition, gold is going to blast off?
You got me there (ie, I don't know the answer to your question).
The "typical take" on gold is that if interest rates go up, gold goes down. Something like that happened in 1980 when gold spiked and Volcker raised the Fed rates to kill inflation (and killed gold too for a long time).
Learning about gold is fascinating. It is a much more complicated and opaque market (etc.) than I had ever thought, say, a year ago.
A real good site (although it takes a lot of time to get your mind around his thinking) is fofoa's:
fofoa.blogspot.com
fofoa thinks that gold will go to perhaps a mighty $50,000 ($50k) per troy oz. as its role changes from a "commodity" to the "ultimate store of wealth".
So what if its true that 100 ounces of gold have been sold for every one ounce that exists - and there's no physical owned by the banks - and gold goes to $15,000 and JPM blows up and the US Dollar collapses.
Yes - that may be inevitable - but does anyone really want that to happen? Think about what you're wishing for. You should be thanking these guys from holding things together and praying that they can keep it up another year or two longer -
nobody wants this to happen ,, it will because of the fraud , the indifference,the brain wash the Keynesian system.
so you want it held together for a couple more years then what .
what good is the praying ..
may be master bates can talk some out of holding gold ... but first he needs to find a job,, get some gravitas under his belt,
at lest be able to take care of himself before he critiques murphy, kirby, douglas, sinclair ..
with his little lisps of unknowing about gold ,
Lets get the inevitable over with already, so everyone can then get on with life without a looming dislocation.
Sooner the better I reckon.
I agree.
In retrospect, we should have allowed more failures back in Sept. - Nov. 2008. All the TARP crap and stimuli are just pushing it further into the future which I presume will make things worse.
"You should be thanking these guys from holding things together..."
No, I think better treatment would be to tie their hands behind their backs and push them into the Potomac.
Like I said on the CFTC thread yesterday, even if they try and unwind concentrated shorts too fast - BOOM. It's not if, but when and no one wants to be the grenade pin. The biggest hot potato in history.
I'm gonna go and do more bicep curls with my junk silver coin bags. Really excellent for burning off financial stress.
Got any videos? (wink-wink nudge-nudge)
There is a cancer of thievery, corruption and welfare killing America. There is no reason to postpone a surgery that might save a patient.
Every day you can hug your kids and hear them laugh, get a peaceful nights rest in a comfy bed, eat good food and grab a hot shower... yeah, it's a good day. The thing is, it's been said and I believe it is true, "The longer the day of reckoning - the day of truth - is forestalled, THE WORSE IT WILL BE".
How much are you really willing to pay for all this can kicking? It should have been fixed after LTCM, except the pigmen don't want it fixed.
+1000
It is all about the truth.
Greed = Lies
I have to agree with you. But I won't thank them they are scum who are looting and pillaging with the power of the state. It just so happens that in their pillaging they have to keep the system up, and as long as the system is up I can prepare better then most of my fellow serfs. The pain will be nightmarish, and the longer we kick the can the worse it will get. However I still want the nice comfy life I have right now, and the chance to scrimp and save and prepare for the collapse. If I had my choice I would never want the collapse but it will come. All we can do is prepare as best we can for it.
You have to remember that a currency crisis occurs not because of any sudden changes of fiscal irresponsibility.
It occurs once you have a collapse in confidence. The whole global economy is built upon a confidence scam in a thin air monetary units backed by nothing other than confidence in an ability to maintain hegemony over a set of localized or globalized people, resources, etc......
If they Weimar Republic collapse the dollar, the globalist bankers would become toast courtesy of an insurrection from within the apocalyptic parts of the US military. It is about setting the Earth ablaze as Psalm's Messianic figure#1 has stated he wished for. Now, not sure he was speaking figuratively but there are people that are busy making the figurative real and unfortunately for most of the citizens of this mortal coil, there are enough of them in power to bring about a global Holocaust whether they intend to or not.
Let we forget that the law of unitended consequences/blowbacks/road to perdition is always paved with good intentions, etc......
Maybe the IMF is preparing to bargain its remaining Gold for the return of the Gold seeking Anunaki?
Annunaki don't deal in worthless thin air units that cannot be monetized on Nibiru. According to Sumerian Scholar Zacharia Sitchin, They need the Gold pulverized for their atmopshere and failure of that means we become their bitch if they ditch their planet unless we've been working on some secret technology that's better than theirs.
Last thing we need is a V style invasion.
Enough with ancient/ptb/overlord reality:
getting back to the fakeality du jour, I've got some irrigable land , some stored hunting equipment sans cross bow, a little stash of US Eagle Dollar Gold coins, 2 ounces of Silver, a few ancient roman era Bachus diefied coins, now I just need me some little MMO making stock to skyrocket and then I go to Tesla motors' headquarters and whine until they assemble me their electric sedan modified with thin solar film so I don't have to stop for anyone, a couple of tarif mofos to bribe to keep the car unreported for longer than the one month grace period and then I'll just bid my time selling my services and continually exchanging worthless thin air units for something real like firewood( I'm letting one guy store some in my mountain building. I'll give him plenty of worthless dollars in exchange in due time. I just have to have enough food to feed the hungry, tired and injured marauders who survived my cross bow attacks and decided to ally with the new overlord of post super solar flare earth territory number _ _ _ _
Now if I can only store that Tesla Sedan on a space shuttle far away from the Earth while the solar flare takes us modern man's marvels......
Until then, I'm on a bee like Being there's Chauncy Gardner.
http://funy1.blogspot.com/2010/03/finite-irrationality-of-paper-wealth.html
Yeah - I watched 2012 too. Good flick....
pass the peyote?
Seriously, I'd go get an AK or M-14 if I were you. Tree branch deflection is not such an issue.
Uhhh, that's a typo, right?
perhaps in bullets.. for the werewolves...
perhaps for his eyes.. when he's dead...
Um, that was quite a post fUny1!
I have not seen 2012 yet, but it looks like my kind of movie.
Looks like your preparations are coming along great (much better than mine). At this point all I have are precious metals and a pair of guns (from Mr. Beretta and Mr. Kalashnikov).
You might like the below fiction book about what happens after an EMP on the USA. Newt Gingrich (of all people) wrote the introduction.
One Second After (by William Forstchen) available almost everywhere in "trade paperback" format. A great read.
You probably already know about survivalblog.com. A very interesting and huge site, loaded with that sort of stuff. I usually check it out each day.
If euro won't crashed the spotlight will return back to US economy (unemployment, foreclosures, debt, etc.) and devaluation of USD. And people will rush to buy gold.
The IMF wont sell to Sprott, as they are positive he will assay each bar.
I think to be sure and to expose the fraud, he would do it band saw style, i think
he is willing to invest that much.
The IMF won't let this happen. Mr. Sprott, I pray for you to invest in some serious protection. Please. We need men like you around.
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