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Aaaand It's Gone: This Is Why You Always Demand Physical

Tyler Durden's picture




 

We have said it over and over, we'll say it again. For all those who for one reason or another would like to boycott the broken markets, yet trade gold in paper form, please understand that all the invested capital is at risk of total loss and can and will be lost, commingled and rehypothecated, not necessarily in that order, with little to zero recourse and the residual claim on liquidating assets pushed to the very end of the queue. Because if Lehman, MF Global, Peregrine, and countless other examples were not enough, here comes Amber Gold: a gold-based investment ponzi scheme out of Poland, in which it is likely needless to say that the gullible investors never had actual possession of the gold. And when they tried, it was gone. All gone.

From the WSJ:

This week's collapse of a gold-derivatives business that Polish regulators say was a Ponzi scheme has hit tens of thousands of customers, shaken confidence in the effectiveness of the nation's financial regulation, and is roiling national politics in the European Union's largest emerging economy.

 

On Monday, the company, Amber Gold, Sp. z o.o., which sold a gold-indexed investment of its own design and offered higher interest rates than banks, said it was halting operations. It pledged eventually to repay about $24 million it said it owed to roughly 50,000 clients in Poland.

 

Amber Gold's 28-year-old founder, Marcin Plichta, who has publicly acknowledged past convictions for misappropriating funds, couldn't be reached to comment. Amber Gold representatives were also unreachable.

 

Despite three years of warnings by Poland's financial authorities that the company was operating without a license, it continued expanding and spent heavily on marketing. Among its businesses, the company launched a budget airline this year to compete with state-owned LOT Polish Airlines SA on domestic and European routes.

 

The airline, OLT Express, ceased flights last month and the gold fund unraveled this month after renewed government warnings prompted commercial banks to close Amber Gold's accounts. The company said "the liquidation process will be spread over time," without specifying when people might get their money back.

 

On Tuesday, Prime Minister Donald Tusk referred to Amber Gold as "a scheme" and said he ordered his finance minister to convene top financial authorities—including the central bank and consumer protection office—to discuss the company's demise and the effect on customers. "All signs on heaven and earth suggest that people who put their trust in that company have been cheated," Mr. Tusk said. He said it is the duty of the state "to move fast enough to protect people from those schemes."

...

 

"I'm shocked at this point and I don't know what to do," said a woman in her 40s, who didn't give her name but said she was an Amber Gold client. "The boss of this company is a very wealthy man and I don't know who will have the authority to block his wealth so he doesn't escape."

 

Amber Gold has said it has $45 million in assets, including 100 kilograms of gold. For years it hasn't issued required financial statements, a lapse that draws a small penalty.

What can be said here: same sad story, different day. People preying on the "get rich quick" euphoria (we would call it laziness but the word is just slightly off color) of others, throwing in a symbol of stability (gold), and laundering proceeds to "baffle everyone with bullshit" all the while the regulators confirm that regulation is meaningless, by not doing their job (and in America would have likely been part of the ploy - apparently in Poland they are amateurs). Said prey also thought that if things turned sour they would be able to pull all their "gold" which just has to exist, because someone else has certainly checked, right, after all there are tens of thousands (of confused lambs part of this), ahead of everyone else.

Alas, as with every Ponzi, this "strategy" never works. It didn't work for the original Ponzi, it didn't work for Bernie Madoff, and it won't work for the global capital markets, which are increasingly perceived by everyone as merely the largest and most comprehensive thoroughly legitimized by their broke host governments and corrupt regulators Ponzi scheme ever conceived.

And so, as we said in the beginning, anyone who puts any amount of money in the market should expect to lose all of it. The US government and the Fed may believe that have eliminated risk but instead they have merely magnified it to a point when even a 10 point drop in the Dow Jones Industrial average feels like the imminent advent of armageddon.

Want to play in a rigged, broken casino? Go ahead - and but don't expect to recovery anything.

For everyone else for whom preservation of capital is more important than gambling, buy precious metals. And get immediate delivery. Because holding a symbolic representation of a flight to safety "asset" via Cede & Co is simply said, idiotic.

 

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Tue, 08/14/2012 - 21:14 | 2705547 smlbizman
smlbizman's picture

thats why i own gld...i know i can trust those guys...

Tue, 08/14/2012 - 21:24 | 2705576 Turd Ferguson
Turd Ferguson's picture

Great stuff, Tyler. Well done.

Tue, 08/14/2012 - 21:52 | 2705641 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Hey Turd!

Buy Silver - Crash JPM - Take Back the Money Supply

Win/Win

Tue, 08/14/2012 - 22:36 | 2705731 flacon
flacon's picture

Obligatory:

 

 

South Park vs. Cafe Del Mar - And It's Gone

http://www.youtube.com/watch?v=4TlPo0yCSa4

 


 

Tue, 08/14/2012 - 23:02 | 2705763 strannick
strannick's picture

Investors in the ETFs GLD and SLV try to escape a corrupt financial system by entrusting banks charged with money laundering for drug dealers and terrorists -HSBC- and LIBOR fixing -JPMorgan- with their wealth, assuming they will use it to buy gold and silver.

HSBC and JPM can then use these same GLD and SLV shares to cover their COMEX shorts as Exchange for Physicals in lieu of the actual metal. Then when gold or silver go up, COMEX smacks them down with massive unbacked shorts, or margin increases. So in essence, GLD and SLV investors are subsidizing the suppression and manipulation of precious metals prices by the biggest bankster shorts.

If you buy want to buy gold and silver, but instead get the paper farces of GLD or SLV you are, how can I put this gently... a dumb shit?

Tue, 08/14/2012 - 23:18 | 2705817 vato poco
vato poco's picture

Nonsense! Poppycock! Are you somehow suggesting that fine, august, highly-respected firms such as Morgan are nothing but a pack of lying-ass thieves? That a former US Senator would piss all over his legal and fiduciary obligations and _STEAL_ from his clients?? Impossible! There are Laws! Regulations! Expensive, overstaffed governmental regulatory entities whose sole job is to *prevent* these kinds of things from happening!

Welcome to the jungle, my Polish brothers. First the Russians kill your entire government while the entire world stands by and does not one fucking thing, and now this.

Tue, 08/14/2012 - 23:58 | 2705871 MrPalladium
MrPalladium's picture

Hey! Many thousands of American soldiers died making the world safe for communism back the 43 and 44.

So who is really the bad guy here?

Those who sent them to their deaths telling them they were fighting for freedom?

Wed, 08/15/2012 - 00:03 | 2705877 nope-1004
nope-1004's picture

I see an announcement on the horizon:  New head of international commodity trading for JPM is none other than, Marcin Plichta, 28, a Polish economics major (grade 9 equivalency in Georgia) with a wealth of experience in international derivatives trading, suckering, siphoning, stealing, and pillaging.  JPM is pleased to announce that Marcin's annual bonus will be capped at 28 million in an effort to show shareholders that the firm does not spend money foolishly.

 

Wed, 08/15/2012 - 00:15 | 2705897 Popo
Popo's picture

 Amber Gold's 28-year-old founder, Marcin Plichta, who has publicly acknowledged past convictions for misappropriating funds.

 

That might have been a clue...

Wed, 08/15/2012 - 00:26 | 2705909 Thomas
Thomas's picture

Too subtle. 

Wed, 08/15/2012 - 06:32 | 2706108 GetZeeGold
GetZeeGold's picture

 

 

Subtle is good - Jon Corzine

 

You got that freakin right - Eric Holder

 

I stand in the presence of brilliance - Bernie Madoff

 

Wed, 08/15/2012 - 16:55 | 2708164 phyuckyiu
phyuckyiu's picture

You know, I went looking for the Billions in gold bars under WTC...AAAaaand IT'S G0000000nnnnnn3! I'm sorry this line is for Non Goys only..... AAAaaan It's g0n3! (shakes it like that new tire sealant in Kim Kardashian's azzz)

Wed, 08/15/2012 - 06:59 | 2705989 Al Gorerhythm
Al Gorerhythm's picture

An anagram of Marcin Plichta is Criminal Patch or Arch Implicant. There has to be a clue in that too.

Wed, 08/15/2012 - 05:30 | 2706079 Nussi34
Nussi34's picture

Money is better spend on Polish hookers than Polish financial products.

Wed, 08/15/2012 - 05:50 | 2706090 bank guy in Brussels
bank guy in Brussels's picture

The old Communist countries of Eastern Europe are generally quite corrupt, even their own citizens think so.

In a recent survey of Europeans, Polish people said the most corrupt country in the EU was ... Poland.

The Polish government ran a torture prison for the CIA, along with other countries in the East ... Everything is for sale in those countries ... 'Need to rent space to torture some people? ... No problem ...'

It is another way the EU is a gigantic mis-match. There are really four sectors of Europe, hugely different

Old Communist East

British Isles

Mediterranean

North-West Continent

Our last part is the one where the societies and governments work fairly well and not dysfunctionally

Wed, 08/15/2012 - 00:16 | 2705899 vato poco
vato poco's picture

Uh.........actually, Homie, I was referring to 2010's "mysterious" "accident" where the Poles were flying into Russia to mark the Katyn Forest Massacre - you know, where the commies murdered 15,000 of the Polish Officer Corps after a vote was taken by the Politburo to do so (really) - and the Russian ATC guys told the Pole pilots they were on a correct glide path when they....uh....weren't. Devastating crash occured; no surviviors. (Although conspiracy buffs place FSB guys at the crash site before rescue crews got there, executing the wounded.) Naturally, Russians being involved, the black boxes have either A)disappeared or B)are in Russian hands and will _not_ be handed over. Ever. Nyet.

Wed, 08/15/2012 - 03:59 | 2706043 Karl von Bahnhof
Karl von Bahnhof's picture

Not Russkies, different country, different tecmology...

Unsuccessfull attempt to drive anti-russkie elements in poland into turbine spin, possibly even some kind of conflict. See ABM missiles instalation planned in PL. 

Tue, 08/14/2012 - 22:56 | 2705783 Turd Ferguson
Turd Ferguson's picture

You got it, Jimi. I hope you are well.

Tue, 08/14/2012 - 23:30 | 2705828 erg
erg's picture

I remember seeing an original post suggesting you form your own blog.

You started your own forum and I was there the very day of it's launching and I am content with that.

And I am still there.

Please continue.

Wed, 08/15/2012 - 01:52 | 2705983 Deo vindice
Deo vindice's picture

I don't buy silver to hurt JPM. I buy it to help me.

Wed, 08/15/2012 - 04:09 | 2706050 stacking12321
stacking12321's picture

putting jpm out of business as soon as possible, does help you, it helps all of us.

Tue, 08/14/2012 - 21:52 | 2705642 greased up deaf guy
greased up deaf guy's picture

i'm partial to the remix... http://www.youtube.com/watch?v=4TlPo0yCSa4

Tue, 08/14/2012 - 21:56 | 2705644 TruthInSunshine
TruthInSunshine's picture

Growing up as a young lad in the United States, the phrase "...and it's gone!" was typically preceded with "...and a long drive into right field, back, way back....on the warning track...." was associated with a major league baseball game, and signaled that one team or the other had just smacked one into the bleachers.

 

How sad that it's far more likely, in these current times, in what are now completely broken, Bernank'd markets, that have sapped the energy out of true market forces, instead substituting a circling-the-drain Crony Kleptocracy & Parasitism, that this phrase has come to to signify yet another implosion of one firm, fund, asset pool or another, where the wealth of many people gets vaporized in an instant, rarely with any serious consequences to people such as The Hon. Jon S. Corzine, who are the new "untouchables" of our times.

Al Capone didn't get away with jack shit compared to these modern, far more reprehensible, and lacking-any-conscience-whatsoever scumbags.

Tue, 08/14/2012 - 22:06 | 2705664 Temporalist
Temporalist's picture

Al Capone had to face his enemies and the people he murdered.  These creatures not so much.  Also Capone was working "against" the government not actually part of it.

Wed, 08/15/2012 - 02:40 | 2706010 drunkenlout
drunkenlout's picture

Wait a minute!  Al Capone was one of my state's heroes.  He owned the Republican Governor.  He didn't make money by robbing banks.  He was in the production of goods sector, supplying bootlegged booze to a grateful citizenry.  He was not convicted of murder.  He was convicted of Evading Federal Income Tax.  He didn't die in a hail of bullets.  He died of syphilis, like a gentleman.  

And also, he killed some people.  Apparently, the government did not object to that.  

 

Tue, 08/14/2012 - 22:16 | 2705680 ziggy59
ziggy59's picture

Al capone robbed banks, now the gun is in the banksters hands, and robbing everyone.

Tue, 08/14/2012 - 23:51 | 2705854 nope-1004
nope-1004's picture

Own a gun, and you can rob a bank.  Own a bank, and you can rob the world.

 

Tue, 08/14/2012 - 23:20 | 2705810 Son of Loki
Son of Loki's picture

In 2008 my friend bought his Cali house for the equivalent of 2,352 oz of gold.

Today, you could buy that same house for only 619 ounces.

House prices are tumbling out there -- gold more then doubled.

My son (a Goldbug in Houston) says he'll buy one out there when 50 ounces will buy a 3,500 sf.

Be patient.  It's coming.

Wed, 08/15/2012 - 00:38 | 2705924 Arnold Ziffel
Arnold Ziffel's picture

Son,

your post reminds me of one of the greatest 'Downfall' videos where houses in Hitler's area plunged 45%:

 

http://www.youtube.com/watch?v=bNmcf4Y3lGM

 

It's a classic!

Wed, 08/15/2012 - 02:24 | 2706004 Neethgie
Neethgie's picture

hhaaha "dont worry i can get you a job as a dog groomer"

Wed, 08/15/2012 - 05:26 | 2706075 boogerbently
boogerbently's picture

What is the govt's advantage in keeping gold price low?

Wed, 08/15/2012 - 07:07 | 2706138 ParkAveFlasher
ParkAveFlasher's picture

it keeps the dollar viable and without an alternative as the medium of settlement for large balances.

Wed, 08/15/2012 - 18:18 | 2708480 TruthInSunshine
TruthInSunshine's picture

Because if the amount of paper fiat, whether here or anywhere, had to be tied to something- anything- of inherent value, as fiat currency was in prior periods, the jig would be up as even the most oblivious sheeple would realize that something was seriously wrong (as they discovered they didn't bring enough fiat for those groceries, after all).

 

Repeat this process of Harvest by first inflating the money supply, getting people deeply indebted (many of whom weren't indebted before), and soon enough, with enough cycles of harvest, what belonged to many will be concentrated in the hands of a few, all via the sham that is fractional reserve banking.

It's the biggest scam in the history of mankind.

Once a person grasps this basic concept, they'll understand why events have taken place as they have (Bretton Woods*; Plaza Accord; Federal Reserve Act of 1913; closing of the gold standard in 1971*, etc.), and they'll finally grasp how a select few have rigged the game to be able to harvest assets continually, and concentrate wealth and power, by doing nothing other than maintaining Deep Capture of a nation's legislative and judiciary branches (and executive, in the case of the U.S.) of government.

*On August 15, 1971, the United States unilaterally terminated convertibility of the dollar to gold. As a result, "[t]he Bretton Woods system officially ended and the dollar became fully fiat currency, backed by nothing but the promise of the federal government." This action, referred to as the Nixon shock, created the situation in which the United States dollar became the sole backing of currencies and a reserve currency for the member states. At the same time, many fixed currencies also became free floating.

 

2590888

Wed, 08/15/2012 - 08:17 | 2706257 Al Gorerhythm
Al Gorerhythm's picture

Gold measures the purchasing power of currencies. The dollar, as a currency, holds about 1/1600th of the purchasing power of a unit (ounce) of gold, its parallel real money equivalent. The Reserve and Govt can't maintain their power bases if gold was used as money because their power comes from their ability to print to pay their bribes and extortion payments. It is more difficult for them to use gold for the same purposes because there is not a sane person in the world who would exchange their gold for graft. There is one exception.... Gordon Brown ...... but then it wasn't HIS gold.

Wed, 08/15/2012 - 17:00 | 2708228 phyuckyiu
phyuckyiu's picture

I think Libya, Egypt, and Tunisia are out of gold too, oddly enough.

Tue, 08/14/2012 - 21:54 | 2705648 Bay of Pigs
Bay of Pigs's picture

Hey Turd, how goes the battle?

Tue, 08/14/2012 - 22:58 | 2705785 Turd Ferguson
Turd Ferguson's picture

Hard to believe at this point but the batte is nearly over.

Nice to see you, BoP. I hope you are doing well, too.

Wed, 08/15/2012 - 00:45 | 2705930 Silver Bug
Silver Bug's picture

Once again get physical! Nothing else is real!

 

http://ericsprott.blogspot.ca/

Wed, 08/15/2012 - 10:04 | 2706557 smlbizman
smlbizman's picture

so 16 of you think i was serious?

Tue, 08/14/2012 - 21:16 | 2705552 A Lunatic
A Lunatic's picture

Poland.........'nuff said.

Tue, 08/14/2012 - 21:25 | 2705577 Turd Ferguson
Turd Ferguson's picture

JPMorgan........'nuff said.

Tue, 08/14/2012 - 21:54 | 2705649 Mike7.62
Mike7.62's picture

Think GLD, SLV, MFG, PFG, Sentinal...the US financial system...it's...gone!

Keep on stackin'.

Tue, 08/14/2012 - 22:36 | 2705682 Nadaclue
Nadaclue's picture

Even stackin has risks. I'm sure you would scream; "You sir, are an idiot", but what if Prez Monarch rules that all forms of PM's are to be turned in to the Government Office of Metals Control, a newly formed entity by EO, at the price of $XXX per ounce?

Now your fucked. R you going to wait 40 years for the Marxist fad to decay? It has happened before and it will happen again. The Ponzi bankers who designed this system are not going to let the little guy get fat with them.

They have a different mindset from the avg Joe. They believe they are superior in knowledge, skills and abilities, just as the legislature and Executive and Judaical branches believe.

Have enough to get out of the country? How you gonna get it out? They've locked down transporting metals out and Fiat out. They want it, you have it and they will take it.

Never underestimate the greed of the financial players. They have no morals, they have no soul, only making money to satisfy shareholders is their utmost concern, whether legally or illegally. Greed has no morals.

I ain't saying don't stack it, what I am saying is; "Have you thought about all the possible scenarios?" If you haven't, start thinking about mitigation to each one.

Tue, 08/14/2012 - 22:37 | 2705732 Jungle Jim
Jungle Jim's picture

Every single gram of Au and Ag I own is physical. I know right where it is, and nobody else but me knows. If I died it would all probably be lost forever, or until some future archaeologist/grave robber found it.

But that's not making me happy. It's not doing for me what I need done. It's not getting me out of the bad, bad situation -- this world of shit -- I'm in. I need it to be worth more --a LOT more, on the market. Not in thirty or forty years, but in like thirty or forty days.

Tue, 08/14/2012 - 22:50 | 2705769 Dr. No
Dr. No's picture

Your lucky. I know several members here lost their PMs in some tragic boating accidents.

Tue, 08/14/2012 - 23:14 | 2705797 Nadaclue
Nadaclue's picture

I couldn't agree with you more JJ BUT, if it goes up, whaddaya gonna do? DO YOU HAVE A PLAN?

See, ya gotta figure out how to maximize the value of the stacks. At which point does one say, "Fuck it, I'm tradin this shit for fiat and then doing X. Y, Z"

Holding stacks isn't the ultimate goal, creating LONG TERM wealth out of those stacks is the ultimate goal. I ain't selling you answers, I'm telling you to ask the questions. WHAT THE FUCK IS THE ULTIMATE GOAL?

Sit tight through the collapse then emerge wealthy when the new system is implemented? Could be a few years, are you ready for that? It is one possibility but only one. Many other darker possibilities also co-exist.

Digital money is one. There has been a big push towards digital money for a long time. Easier for GOV to control laundering and tax evaders and it. is. coming.

Invocation of SPR's will likely bring digital money and all the associated taxes that Gvmt. needs to breed and expand.

All I'm saying is to plan for it all. If you can conceive it, they will try it.

Third world residency will enhance your timelines, if you can figure out where and how to get your money out.

Tue, 08/14/2012 - 23:51 | 2705856 Doña K
Doña K's picture

You can take all gold accross to Canada legally as long as it is .9999 pure (maples) However, it is best to keep it here in the US.

What to do with your stash and when? when you can buy a nice 65' ocean going sailboat with 1/3 of your stack, you are a made man. That will give you shelter and an open ticket to anywhere there is ocean. A boat has one thousand places to hide gold.

Watch out for boating accidents.

 

 

 

Wed, 08/15/2012 - 06:42 | 2706119 nodhannum
nodhannum's picture

@Doña K "However, it is best to keep it here in the US".   Pray tell, why here in the US?

Wed, 08/15/2012 - 00:09 | 2705890 Jungle Jim
Jungle Jim's picture

Well, for me, the ultimate goal has always -- or at least for about forty years now -- been some safe, secure, and relatively self-sufficient place to live. "Just live," as Dr. Zhivago put it.

Probably pretty far out in the sticks. Preferably not too easy for just anyone (especially government employees)  to just casually intrude into.

 That is NOT where I find myself now. I have no job, or any other income stream.

 ALL I have on which to fix any faint hopes I might still have are my physical PMs. Which just keep depreciating, for whatever reason.

 Well, I think I know the reason, but it lies far beyond my control. :o(

I've alway hated the statement, "Knowledge is power." I've always known what needed to be done. But I've never had the power. Power,  not knowledge,  is power.

Wed, 08/15/2012 - 01:56 | 2705987 Nadaclue
Nadaclue's picture

JJ,

I'm sorry if you felt in any way belittled by my posting.

I've forgotten how fortunate I am compared to some of those here on ZH. Sadly, I've been posting on the belief that others are in my position or better.

We have Paupers to Billionaires on ZH, and I've forgotten that.

Me? Just a retired working clown with a net-worth not worth posting. I do believe in warning of the upheaval that will soon be upon us.

My words are entirely directed to encourage peeps to prepare.

 

Tue, 08/14/2012 - 22:45 | 2705759 CompassionateFascist
CompassionateFascist's picture

The mitigation is an M1a in hand, a Glock23 on hip, ability & willingness to use same, and networked with others like minded.

Tue, 08/14/2012 - 23:16 | 2705813 WillyGroper
WillyGroper's picture

>>>>>just as the legislature and Executive and Judaical branches believe.

just as the legislature and Executive and Judicial branches have been bought by them.     There fixed it for ya.

Tue, 08/14/2012 - 23:30 | 2705829 Antifaschistische
Antifaschistische's picture

Nadaclue, I'm not necessarily an apocalypse guy, but I am creative.   Worst case scenario, you got to get your gold across a border to dump, or sell it to a fence who gets it across a border.  And you can be guaranteed that fencing gold/silver in an outlawed US environment would be a hot business.  I don't think it would be anything like the prior US experience.   Now, is this a risk you'd take to dump a 5 gram bar?  Not me.  Is this a risk I'd look into to get enough cash to pay for my second home in highly desirable retirement destination?  heck ya.   

Of course, since the Feds monitor ZH you can know that they'll do everything they can to cut off every avenue of liquidation.   Where "the people" come in is letting EVERY friend, foe and family member know that they should never EVER convict anyone charged with illegal ownership of, or liquidation of PMs.   The jury is still our last hope and we must teach our children to ignore the instructions from the judges and the immoral prosecutors.

Wed, 08/15/2012 - 00:07 | 2705884 Dr Benway
Dr Benway's picture

The thousands of Americans in jail for pot wish you the best of luck with your jury nullification plan

Wed, 08/15/2012 - 00:50 | 2705931 Nadaclue
Nadaclue's picture

A, hell your handle is too long to write.

You should be thinking apocalypse, because that is what is coming. I don't know if it will be tomorrow or in 10 years, but you must be preparing for it. IT. IS. COMING.

There is no way the USA debt can sustain any interest increase, therefore, no way for the dollar to survive IF we come out of this depression we are headed for. 

You don't see soup-lines now because of EBT. The Fed buys 80-91% of the US debt. No way this is sustainable for more than a few years. Prepare now for the ugly which is coming.

As for moving stacks between the borders, you only have two. Mexico and Canada. Both are surrogates to the US Gov policy and if the shit gets deep, those will be very difficult to penetrate to sell bullion.

I'm not saying it is not possible but, the PTB can put pressure on both to close the avenue of resale of bullion, imho.

The PTB are not going to let the little guy get fat. We've seen that with the recent Circuit Court ruling that the client's money that Sentinel spent, was not the clients money. GET THAT? The money that the clients held at Sentinel in segragated accounts, was not the clients money. This ruling is landmark as it states the money in your bank is not yours. THEY WILL STEAL IT, ain't a fuckin thing you can do about it either.

They aren't going to let you trade your gold for fiat at some point. No doubt.

While I do know one or two avenues of getting yourself and your stacks out of the USA, I can't say. And no, I'm not selling subscriptions to any newsletters as they are my avenues out, should the marxist in power win.

I wish I could help but think way out of the box. I suppose you could buy a boat and float to somewhere else less restictive. That actually might be a good idea.

Regards.

Wed, 08/15/2012 - 01:18 | 2705962 jonjon831983
Wed, 08/15/2012 - 02:53 | 2706015 The Navigator
The Navigator's picture

NadaClue - you bring up some very important and salient points.

I have played out this mental chess game thousand of times in my mind - what to do if x, what to do if y, what to do if 'they' do this or that - and I believe that's what we all need to work out.

Me, I live within 45 minutes of the Mexican border and I have worked out 5-6 ways to get there, with 4-5 x optional options within. From TJ, there are international flights and from Ensenada there are plenty of sailboats that can be bought - from there, I'm gone.

Like most of us, I don't have all the PM's I would have like to accumulated by this time, but in a SHTF or TEOTWAWKI scenario, I believe I can get my family out and set up (minimally) somewhere else with items and skills to trade.

If possible, BTFD, buy books and learn lock-smithing, beer making, tobacco growing (and seeds and ROLLING papers), diesel mechanics, animal husbandry, how to build a solar panel generator, gardening, metalurgy (how to turn your gold/silver into deck cleats) etc.

Since 2008, my biz (that I DID build) has seen revenues fall by more than 65% - guess I drink too much coffee - but used the extra "time off" to play mental chess games and read more books.

In summary, plan on them coming for your armory and PMs and retirement funds - plant some of your PMs, armory and ammo in a neighbors back yard while they're on vacation, and think on several Get Out Of Dodge plans. Just in case. WTF, NOAA is buying 46,000 rounds of hollow point .40 cal ammo????

Be FUCKING paranoid, but not to a point where you have a fucking heart attack - note to self, follow your own advice re part 2. And just prepare, for many scenarios.

Semper Paratus, The Navigator

Wed, 08/15/2012 - 04:48 | 2706070 boogerbently
boogerbently's picture

Mexico????

Sailboats????

Cartels, pirates.

Those avenues aren't safe NOW, let alone in the world of chaos you imagine.

Wed, 08/15/2012 - 12:46 | 2707089 The Navigator
The Navigator's picture

Mexico for about 2 hours if needed - sailboats, not a problem.

Cartels and Pirates - do you mean the ones in DC? or the pirates in the malaca straits?

The chaos would be in the cities and the roads getting out of the same.

Tue, 08/14/2012 - 23:08 | 2705803 A Nanny Moose
A Nanny Moose's picture

But LBJ said it would all be OK...

http://www.presidency.ucsb.edu/ws/?pid=27108

Tue, 08/14/2012 - 22:31 | 2705716 Psyman
Psyman's picture

Poland has a future, unlike the Mudnited States of ZOG and the Muslim Caliphate of Western Europe.  The Polish enjoy a degree of personal liberty that a person born and raised in Anglo-Zionist prison camp societies cannot even imagine.  To you, it would look like anarchy.  To the enlghtened man, it looks like freedom.

 

Small, weak governments = free people.  Big, strong governments = totalitarianism and police state enslavement.  It really is that simple.  The greatest threat to Poland and the freedom of the Polish people comes from the E.U. and outside investment to "modernize" (enslave) the country.  Slaves on the plantation work camp societies of Anglo and Germanic countries live such highly regimented and regulated lives from birth to death that the sort of freedom encountered in a nation like Poland would leave many of them in shock.  Very few Anglo/Germanic slaves visit Poland, and that's all for the best.  Even your stupid nigger president speaks of "Polish Nazis and Death Camps", showing an inability to even read Wikipedia before giving a speech in front of the world.

 

And don't come to Poland.  Stay in the Anglo-Zionist states, or move to South America with Simon Black.  Don't need you scumbags messing up a good thing.

Tue, 08/14/2012 - 22:38 | 2705735 AL_SWEARENGEN
AL_SWEARENGEN's picture

Kraków, what a city.

Tue, 08/14/2012 - 23:49 | 2705849 Neethgie
Neethgie's picture

funny polish are always coming to anglo/germanic countries to get jobs, since the majority of poland is either drunk or racist.

Wed, 08/15/2012 - 00:24 | 2705907 Popo
Popo's picture

... or have great tits.

Wed, 08/15/2012 - 01:13 | 2705956 Nadaclue
Nadaclue's picture

I love great tits.

Give this britt a chance. He' always posting nice tittays although not always blatent, it's the seductive bunch.

http://www.theospark.net/

Another good snooch site is

http://theferalirishman.blogspot.com/

Cheers

Wed, 08/15/2012 - 03:50 | 2706039 zhandax
zhandax's picture

Nothing wrong with a great pair, and they are cheap to rent these days.  I gave you green for the live clip of Roger Hodgson on the second link.

Wed, 08/15/2012 - 04:26 | 2706054 Karl von Bahnhof
Karl von Bahnhof's picture

One of my neighbour is Polska

Damn she is lovely. And you also will love www.busty.pl

 

Wed, 08/15/2012 - 00:59 | 2705938 Psyman
Psyman's picture

Their "racism" assures they will continue to exist as a people and a culture while the "diverse" Western societies either become some unrecognizable conglomeration of peoples, languages, and cultures, or collapse outright into Bankanized factions.  The same reason China (more specifically, "The Chinese") and Japan (more specifically, "The Japanese") will continue to exist, they are peoples with a language and cultural identity.

 

Just what is an American?  A Briton?  A German?  Today, these words mean nothing.  They designate a human that can be of any race, culture, and speak any language that happens to dwell primarily within the invisible lines in the dirt that define national boundaries.  National and cultural identity is lost.  The illegal alien that walked across the border from Mexico 6 hours ago is just as "American" as someone born here 50 years ago to a family that came over on the Mayflower.  Or so the elites would have you believe.

 

This age of multi-culturalism and diversity is a short lived chapter in human history, primarily the result of WW2 and the reaction to it.  As man reverts to his tribal nature, the nations that have most fervently embraced these experiments will be swept aside by nations that represent something more than invisible lines in the dirt, like PEOPLE that share a heritage and culture.  And so human history comes full circle.  Nations exist because a unified people with a shared culture want to band together and form a government within the territory in which they dwell, not because some Global Government pushing bureaucrats say they do.

Wed, 08/15/2012 - 02:26 | 2706005 Neethgie
Neethgie's picture

then could you please round up your polish brothers and take them all home please

Wed, 08/15/2012 - 00:13 | 2705881 Lednbrass
Lednbrass's picture

Poles only have freedom because the Germans and Russians are otherwise occupied at the moment and the US still has alot of military power. Once Uncle Sam can't afford a massive military, it's back to working for someone else again for the Poles before too long. 

Poland only exists through the sufferance of others and as a bargaining chip/buffer zone between your neighbors, it hasn't been able to defend itself in centuries and technologically it is an innovative backwater that hasn't invented a damn thing.  Its main survival mechanism in recent years has been as the Mexico of Europe and even this is fading in favor of cheaper areas.

Sorry to pop your bubble, but you are living on borrowed time under someone else's protection at their cost.  Enjoy your moment in the sun, the Pax Americana is drawing to a close and when it ends so do you. One day the Germans, Russians, or both will knock on your door yet again and say "OK the Amis are gone and the nonsense is over- now get your asses moving."

Their politics aren't my thing, but the song is funny and appropriate to the point-

http://www.youtube.com/watch?v=8Fqqe6zgOnY

Wed, 08/15/2012 - 00:44 | 2705929 Psyman
Psyman's picture

So inventing things to generate tax revenue to fund your massive totalitarian police states in America/Anglo/Germanic nations is your definition of national success?  Or is it working really, really hard to build businesses for Obama to tax so he can give 6 figure government jobs to blacks and massive welfare hand outs to illegal aliens from the REAL Mexico?  Is this your crowning naional achievement?

 

Freedom is all that matters.  Not iToys to generate tax revenue for bureaucrats to spend building the most high tech police state in human history.  Your priorities are all fucking whacked.  This is why I left America, even a guy like you, that pretends to care about individual liberty is just another big government/corporate fascist tyrant.  RAH RAH RAH, TEAM AMURICA, WORLD POLICE, FUCK YEA!!!

Wed, 08/15/2012 - 00:51 | 2705937 Lednbrass
Lednbrass's picture

What a complete fucking idiot.

The fact that you couldn't come up with a single rational syllable against anything I said (an observation on the cold, hard, factual reality of Poland and real life on planet Earth) and had to completely deflect and change direction with all manner of emotional crap unrelated to the point should tell you something.

I don't think it will, but it should.

Wed, 08/15/2012 - 00:56 | 2705940 Psyman
Psyman's picture

RAH RAH RAH, TEAM AMURICA, WORLD POLICE, FUCK YEA!!!

 

You're the big swinging dick around herre Hoss.  I acknowledge that you love your global imperial warfare state and wish only for your sons and daughters to study hard to invent cool toys to generate tax revenue so your government can distribute that money to defense contractors and those on the welfare rolls.

 

RAH RAH RAH, TEAM AMURICA, WORLD POLICE, FUCK YEA!!!

Wed, 08/15/2012 - 01:25 | 2705967 Lednbrass
Lednbrass's picture

Once again, you are a truly stupid human being but I must admit that your repeated attempts at coherent speech and thought are cute. It's like watching a little juvenile baboon in a nature documentary show its ass and make funny screeching noises. The best you can do is construct strawmen and while this is sad as a method of argument your public display of a mind so entirely free of the restrictions of functional intelligence is not without amusement value.

As your reasoning powers are lacking and you are obviously such an emotional little creature, I will spell it out for you in an effort save both of your neurons further distress. What is funny here is that you extol the freedom of Poland and in the next breath rail against the power of the US which is all that allows you the freedom you claim exists in Poland. Are you actually so childishly naive that you think Poles are free because of Poles? No Sparky, they are free because nobody wants to fight the US. Once our bloated military is forced to shrink down to our actual means, Ivan and/or Fritz will be coming by for tea and nobody else will give a shit because they will have problems of their own.

Personally I look forward to the end of America as World Cop- it is pointless, unaffordable, and all that allows you to live and breathe. Quite frankly, you shouldn't be our problem. Poles are nice people but collectively they struggle to organize a decent bake sale much less a defense against their neighbors and I fail to see a valid reason why their inability to defend themselves should be the problem of the United States.

Wed, 08/15/2012 - 03:12 | 2706021 Moe Howard
Moe Howard's picture

Lednbrass,

Have you been to Poland? Do you have more than a superficial understanding of its' history?

You don't have a clue based on your post. I was there in 2002 and again last fall. Your statements don't jibe with reality. Historically, the USA sold Poland down the river at the end of WWII. We betrayed them, as the US ambassador titled his book about what happened.

I failed to see any American soldiers while I was there both times, defending anything. I think there are some small amount of personnel there but that is for US advantage vis a vi Russia, not to defend Poland.

Don't know why you hate Poland, but your post is wrong and seemingly irrational.

Wed, 08/15/2012 - 05:31 | 2706083 Psyman
Psyman's picture

That's right.  I'll explain to the "great American World Protector" how shit really went down.  The Polish rose up against their Nazi German occupiers.  Tens of thousands of Polocks and Polka died.  They were out gunned, poorly supplied, out matched in every way.  The Nazis crushed the rebellion and Hitler ordered the complete and utter destruction of the Polish capital Warsaw, once commonly referred to as "The Paris of the East."  85% of Warsaw's populace was driven out to become refugees.  The other 15% were slaughtered.  The entire city was razed to the ground.  What were the "allies" doing during this time?

 

Why, the Soviets were holding position just outside of Warsaw, letting the Germans crush the Polish resistance.  And the British and Americans?  They refused to send weapons to the Polish.  And after the Soviets "liberated" Poland they invited all the remaining leaders of the Polish resistance to a meeting.  None of them returned.  And then they lived under Soviet oppression for nearly 50 years.  So tell me again about what America has done for Poland, "lednbrass", you stupid cunt.

 

And they haven't forgotten the treachery and duplicity of the Anglosphere.  They know that the Anglo-Zionist empire would sell them up the river in a heart beat to Russia.  But an imbecile such as yourself, lednbrass, educated in the public schools, clearly without even a college degree or a passport, wouldn't know any of that.  Go back to your survival blogs and Alex Jones you retard.

Wed, 08/15/2012 - 08:46 | 2706323 CompassionateFascist
CompassionateFascist's picture

Not quite. Brits and Americans tried to get Russan permission to fly in and land weapons to the Polish Nationalist fighters. Stalin, natch, refused; happy to stand back and watch idiot Hitler doing his dirty work. Long-range bombers then made many attempts to paradrop supplies and weapons; most fell into the hands of the Nazis. See: (back later to post reference).  

Wed, 08/15/2012 - 11:48 | 2706869 Lednbrass
Lednbrass's picture

I fail to see how an accurate assessment of both Polish history and the harsh reality of its geographical situation constitutes hate. I don't hate Poles, they are nice enough people but in a terrible geographic position and why you read it as such I cannot say. I don't see any correlation whatsoever between saying that Poland for hundreds of years has not been the military equal of its neighbors, that it has lost practically every conflict with them, and that it has owed its existence between those neighbors keeping it as an ever shrinking buffer zone and not its ability to maintain a viable state under its own power to hate, love or any other emotion. Cold and perhaps even harsh yes but that isn't an emotional read of the situation. These days anything not touchy feely is somehow hate speech.  It is precisely to Polish history that you should refer yourself- Poland once stretched way out into what is now Russian turf, I'm thinking roughly halfway between its current Eastern border and Moscow off the top of my head. Why does it not do so now?

For centuries the Germans, Russians, and Austrians have lopped off land and it has been entirely overrun of a few occasions in history.  As a point of reality, every time that has occured the land was not retaken by Poles.  If you can point me to a single example to the contrary I would seriously like to know of it but having read pretty extensively on the history of the area I cannot recall one.  Not being sarcastic here, I really want to know about it.  Beyond stopping the Russians when they invaded in 1921 or so (forget the precise year), I am hard pressed to recall a single successful defense of their own territory but by all means correct me.

Is it that you are Polish that it angers you and dances on your nerves? Entirely understandable if so, but again- it isn't personal or realted to anything but the cold hard truth of stronger and more powerful neighbors. I would say that it is not an irrational read of the history of an area but a cooly rational one. Yes, I know US troops aren't actually in Poland- but once again the Russians didn't  leave the last time because the Poles gave them the boot, they left because their system collapsed after years of having to try to keep up with an outside power.

Wed, 08/15/2012 - 03:51 | 2706037 The Navigator
The Navigator's picture

LednBrass - Psyman is an Expat and speeks a different language than you and I. But you're both on the same page. None of us got to vote on a $1.5Trillion annual defence budget that allows the CIA to intervene in Lybia and then Syria (and ultimately Iran) to affect global oil distribution.

PsyMan has obviously been ExPat for some time - but both of you/us seek the same end, the end of the empire that earns liberty for us all.

It's gonna be one helluva bloody war until we get our military on our side.

Oathkeeers and 3pers keep your eyes/ears. And question orders above major/colonel. Americans and the Contitution on our your side, and our side.

Semper Paratus.

Tue, 08/14/2012 - 21:27 | 2705558 Zola
Zola's picture

"Money is the barometer of a society's virtue. When you see that trading is done , not by consent but by compulsion - when you see that in order to produce you need to obtain permission from men who produce nothing - when you see that money is flowing to those who deal not in goods but in favors - when you see that men get richer by graft and pull than by work, and your laws don't protect you against them, but protect them against you- when you see corruption being rewarded and honesty becoming a self sacrifice- you may know that your society is doomed" - Ayn Rand (Francisco d'Anconia in Altas Shrugged)

 

 

Tue, 08/14/2012 - 21:35 | 2705612 Nadaclue
Nadaclue's picture

The woman was a "real" Futurist. Amazing

Tue, 08/14/2012 - 22:12 | 2705673 francis_sawyer
francis_sawyer's picture

Yeah... real 'futurist'... I bet she didn't expect to end up on the sides of muni bus lines in the future...

~~~

http://gawker.com/5934794/is-this-the-most-offensive-pro+israel-ad-in-history

Tue, 08/14/2012 - 23:02 | 2705794 CrockettAlmanac.com
CrockettAlmanac.com's picture

Rand was a human being and human beings are sometimes wrong. We knew that going in.

Wed, 08/15/2012 - 01:09 | 2705953 Nadaclue
Nadaclue's picture

The concept of bus advertising was alien in her time.

Her Wascom was of the future of society, however, the petty aspect of commercialization did not escape her. The sell out of humanity required it.

Other than that, you are a small thinker when it comes to critical thinking skills my friend. The message is clear.

Go Galt or you are fucked.

Wed, 08/15/2012 - 18:57 | 2706114 TWSceptic
TWSceptic's picture

It's taken out of context.

It's a staple of enemedia coverage that these ads are "anti-Muslim," but actually the words Islam and Muslim never appear in the ads. Nor does the ad say that all Muslims are savages -- again, contrary to media myth. The premise of this ad was that a war on innocent civilians is savage. And that is a fact.

Tue, 08/14/2012 - 23:18 | 2705816 WillyGroper
WillyGroper's picture

On the dole.

Wed, 08/15/2012 - 12:06 | 2706862 GoinFawr
GoinFawr's picture

Gotta love a set of principles where when the going gets tough the rationalizations get going..

I'll even give another one gratis to the 'I'm all right so fuck all the rest' crowd: take heart, "Ayn Rand" was never on the public teat anyway; it was Ann O'Connor. I'm sure the use of that pseudonym was purely for technical reasons...

The real heartening thing about AR's hypocrisy is: in order to remain consistent with this particular portion of her self-serving rationalizations all Lipoterreans must be vehement supporters of Soc.Sec./unemployment/medicaid over the DoD, seeing as those collecting the former set paid into all of the above... right?

Take note of who the acolytes are and let's see if they remain consistent, but don't hold your breath.

Tue, 08/14/2012 - 22:08 | 2705667 Neethgie
Neethgie's picture

Kan i plz have social security and medicare ~ ayn rand

Tue, 08/14/2012 - 23:00 | 2705754 aphlaque_duck
aphlaque_duck's picture

Kan i plz opt out?

Wed, 08/15/2012 - 00:09 | 2705892 Nadaclue
Nadaclue's picture

No, you cannot by Government mandate. The money you WILL povide is needed to keep the Ponzi scheme alive. Should you refuse, we will put you in a cage for a very long time

That Is All...

Wed, 08/15/2012 - 13:11 | 2706879 GoinFawr
GoinFawr's picture

Of course you can 'opt out' any time you wish. But it will require a stoicism and fortitude capable of enduring the consequences. IE you will have to actually be principled, rather than merely a hypocritical self-serving rationalist; recreants like those are a 2012 dime a dozen.

Yer a lowdown, cheapskate, beer suckin' cigarette smoker.

Yer a lowdown, cheapskate, beer suckin' cigarette smoker.

Yer a wishy washy, tishy toshy, askin' so much from everybody.

Yer a wishy washy, tishy toshy, askin' so much from everybody.

Yer a lowdown, cheapskate, beer suckin' cigarette smoker.

Yer a lowdown, cheapskate, beer suckin' cigarette smoker.

Well there you are on my porch, I’m saying how ’bout a grilled cheese sandwhich
Well there you are on my porch, how’s about a grilled cheese sandwhich

Yer a lowdown, cheapskate, beer suckin’ cigarette smoker
Yer a lowdown, cheapskate, beer suckin’ cigarette smoker

Yer horizon is a snowbank, a riverbank, yer nose and the liquor store
Yer horizon is a snowbank, a riverbank, yer nose and the liquor store

Yer a lowdown, cheapskate, beer suckin’ cigarette smoker
Yer a lowdown, cheapskate, beer suckin’ cigarette smoker

-Kim Beggs

Wed, 08/15/2012 - 00:35 | 2705920 Fred Hayek
Fred Hayek's picture

Actually, it was more like, "Can I have back the money I was forced to pay in? I'm not an idiot who believes I should be a martyr."

But your mileage may vary. Let the state walk all over you and don't seek to get back any of what was taken from you.

Wed, 08/15/2012 - 08:54 | 2706342 Disenchanted
Disenchanted's picture

 

 

 

Can I haz my money back(including what my employers have paid in on my behalf over about 40 years), and opt out of FICA...

Then we can talk about those 1040 taxes.

 

 

Tue, 08/14/2012 - 21:19 | 2705561 nmewn
nmewn's picture

A fool and his money...

Tue, 08/14/2012 - 21:38 | 2705614 AL_SWEARENGEN
AL_SWEARENGEN's picture

Are easily parted indeed.  And the way things look, most 'investors' are not heeding the warning.  Take chief cocksucker Bloomberg's big silver article today http://www.bloomberg.com/news/2012-08-13/silver-hoard-near-record-as-hedge-fund-bulls-recoil-commodities.html?cmpid=yhoo stating that Silver held in exchange traded products climbed for the past three months to $16.2 Billion Dollars.  Now I don't know if that includes funds like Sprott or Gold Money which actually vault the bullion they make claims on, but that kind of money in the paper Silver market means a lot of people are being VERY 'lazy' as Tyler states.  Chances are that the CFTC wont rule against itself with the upcoming release of their investigation.  But hopefully just the news of the topic will create a small stampeede for the exits that ultimately turns into a route for physical that will do the job that the CFTC cannot.

Tue, 08/14/2012 - 21:58 | 2705657 Bay of Pigs
Bay of Pigs's picture

Anyone who has any spent time in this sector knows that ETF's like GLD and SLV are totally unreliable for accuracy and transparency of their physical holdings.

Pure unadulterated bullshit is what it is. 

Wed, 08/15/2012 - 00:39 | 2705925 Fred Hayek
Fred Hayek's picture

What?!  You don't believe that SLV casually adds 3 million ounces of silver one day, sells 4 million the next and then adds 3 million ounces the day after that?  These massive additions and subtractions in incredibly short periods of time don't seem plausible to you at the same time as it takes Eric Sprott's organization months to get a hold of a portion of these amounts?

Wed, 08/15/2012 - 06:47 | 2706124 malikai
malikai's picture

Sprott needs to give HSBC a call so he can start taking delivery of SLV's actual metal.

Wed, 08/15/2012 - 03:36 | 2706032 James_Cole
James_Cole's picture

If you're in and out of them at strategic times what does it matter?

Ssl and slw are better business models though for that sort of thing imo. With phys silver performing so pitifully there's definately better places to put your $

Wed, 08/15/2012 - 09:16 | 2706406 N. B. Forrest
N. B. Forrest's picture

I never see anyone commenting on the CEF.  Is the Central Fund of Canada as bad as the rest?

Tue, 08/14/2012 - 22:35 | 2705725 Caviar Emptor
Caviar Emptor's picture

A fool and his money.....are soon elected

Tue, 08/14/2012 - 21:22 | 2705566 dannyboy
dannyboy's picture

This one is my favourite tyler :D.

Tue, 08/14/2012 - 21:22 | 2705568 sixsigma cygnus...
sixsigma cygnusatratus's picture

Repost:

http://www.bloomberg.com/news/2012-08-14/jpmorgan-to-house-client-collateral-in-bank-after-futures-losses.html

JPMorgan Bank to Hold Collateral After Futures Firms’ Losses

JPMorgan Chase & Co. (JPM) will allow customers to house excess swaps and futures collateral in a separate bank account as it seeks to reassure investors after losses at MF Global Holdings Ltd. (MFGLQ) and Peregrine Financial Group Inc. (story continued)

Tue, 08/14/2012 - 21:23 | 2705571 bigkahuna
bigkahuna's picture

And it's gone. Please step aside.

Tue, 08/14/2012 - 21:29 | 2705589 cebri88
cebri88's picture

So true :(

Tue, 08/14/2012 - 21:26 | 2705583 Shizzmoney
Shizzmoney's picture

This is why I gamble.  If I'm going to throw my money away, I might as well just get some sweat with it.

Tue, 08/14/2012 - 21:27 | 2705584 azzhatter
azzhatter's picture

They should have a public execution for one of these fuckers

Tue, 08/14/2012 - 21:29 | 2705591 beachdude
beachdude's picture

Ok, but what about Sprotts PHYS and PSLV?

My understanding is that the physical is actually there and can be delivered or picked up.

Tue, 08/14/2012 - 22:03 | 2705626 Nadaclue
Nadaclue's picture

You don't understand. A circuit judge has ruled that segregated funds like MF global are no longer your property once the firm has control of them. This was a ground breaking ruling. Money in the bank? NOT YOURS. Silver in a Physical Form, NOT YOURS.

NO assets that you relinquish to any institution or company is yours any longer. The implied ownership is there but the judge has ruled that if that company uses it for their own purposes, IT AIN'T YOURS.

Tue, 08/14/2012 - 23:30 | 2705825 Indrid Cold
Indrid Cold's picture

Actually, IIRC, money you put in the bank in deposit accounts isn't yours.  It's the bank's money now.  You loaned it to them.  They promise to repay you according to the terms and conditions, which, last time I checked, contain a number of ways they can withhold and delay that repayment.

More info: What is the legal relationship between a banker and his customer? (Covers UK law, but I understand the legal principle and relationship is the same here in the good ol' late great U.S. of A.)

Tue, 08/14/2012 - 23:26 | 2705823 WillyGroper
WillyGroper's picture

Seen it? I wondered the same.

Tue, 08/14/2012 - 21:30 | 2705592 reader2010
reader2010's picture

Keep it simple and stupid by holding it in your own hands. If you can touch it, you can hug it and kiss it. If you can't touch it, you can fuck it. 

Tue, 08/14/2012 - 23:53 | 2705859 Dr Benway
Dr Benway's picture

Wouldn't that make more sense reworded slightly? sorry for nitpicking

 

"If you can touch it, hug it and kiss it. If you can't touch it, fuck it." 

Tue, 08/14/2012 - 21:34 | 2705604 pan
pan's picture

Physical bitchez!

Tue, 08/14/2012 - 21:50 | 2705628 americanspirit
americanspirit's picture

What you do not understand is that you must trust someone. You cannot be safe all by yourself. So please, trust me. Just send me all your money and I will buy gold with it and keep it in a box with your name on it. Whenever you want I will send you a picture of that box with your name clearly printed on it, and then will send you another picture showing you all of your gold inside. I guarantee you that your gold will be safe with me - see, I am sending you a picture of the big dogs that I have guarding your gold 24/7. Even more impressive I will send you a picture of me with many many guns and lots of ammo, also guarding your box of gold.

If you can't trust such a fine person as me, who can you trust? So, send me your money. Really. You will feel so much better, knowing it is safe with me. Really.

Tue, 08/14/2012 - 21:59 | 2705658 DrunkenPleb
DrunkenPleb's picture

Dear americanspirit,

 

I am deeply impressed by the robustness of your operations and wish to make a business proposal. I am in the business of "upvotes". I have many business partners, and together we can secure for you a large number of these upvotes. My business partners require me to offer some sort of collateral in exchange for my participation in this business, so here is what I propose:

I would like to borrow some of your gold holdings. All you have to do is write me a little note saying that some of your gold are belong to me (pics are great too!) for a short period of time. I'll show this note to my partners as proof of what an awesome person I am to do business with. Then while upvotes are pouring in for me, I'll siphon off some of them for you. Then when my little note expires, the gold is 100% back under the ownership of your name. I'll never actually move the gold from your vault, and your trusting customers will never know the difference. Sound good?

What do we call this arrangement? Value creation.

Tue, 08/14/2012 - 22:13 | 2705674 francis_sawyer
francis_sawyer's picture

Ponzi

Tue, 08/14/2012 - 22:54 | 2705775 Blagio
Blagio's picture

What do we call this arrangement?

 

The CFTC!

Wed, 08/15/2012 - 09:56 | 2706506 americanspirit
americanspirit's picture

My Dear DrunkenPleb Friend - this is GEENEUS! Everyone love little green arrows - better than green stamps ( are you old enough to remember) or even green backs. You have my word here in writing that 50% of the gold in my customers little boxes are now on loan to you. I am charging you only 10% of your green arrows - you can send them by private courier so the awful black suits will never know. I will keep them in what I call segregated accounts - which means I don't allow the red and green colors to mix together. Never. That is not good for business.

I see that you are truely a young GEENEUS so allow me to share some of my ancient wisdom with you. This is not called Value Creation. This is called Hypothetical Creation, otherwise known as Hypothecation. You must use big words carefully so that your customers will always have faith that you are GEENEUS.

Your pictures of the gold will follow by special courier. My little GEENEUS - I am being so proud.

Tue, 08/14/2012 - 22:01 | 2705661 KingTut
KingTut's picture

Look, if you have 10 gold coins keep them in your dresser drawer.  If you have 100 gold coins keep them in a home safe.  If you have 1,000 gold coins and you keep them in your home, you are fucking idiot.  If you bury them in your back yard, you an even stupider fucking idiot.

People will find out you have the gold, and they will steal it from you.  Put it in a vault where even if you tell them about it at the point of a gun, they can't steal it from you.  If the vaulting company steals your gold, you never had a chance anyway.

Tue, 08/14/2012 - 21:47 | 2705632 KingTut
KingTut's picture

Look, put put some dead presidents in your matress, thats HUGELY safer than a gold ETF.  They don't increase in value but they are what they are.  

I'm in the process of getting rid of all ETFs anyway.  They use all kinds weird "equivalents" and "derrivatives" to "mimic" the index or whatever they are tracking.  When TSHTF, god only knows what it'll be worth.

Tue, 08/14/2012 - 23:37 | 2705839 ddtuttle
ddtuttle's picture

OMG! and I was saving 100's.  I'm converting 1's as we speak!

Tue, 08/14/2012 - 21:48 | 2705633 PSEUDOLOGOI
PSEUDOLOGOI's picture

The reason this lad is unavailable at the moment is because he is interviewing with the Mourge right now.

Tue, 08/14/2012 - 21:50 | 2705637 Paul Atreides
Paul Atreides's picture

I hope this snowballs over to GLD....

Tue, 08/14/2012 - 21:53 | 2705645 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

It won't.....

....until it does.

Tue, 08/14/2012 - 21:55 | 2705650 Silver_K-9
Silver_K-9's picture

I <3 Olivia Newton John...

Tue, 08/14/2012 - 21:58 | 2705655 KickIce
KickIce's picture

How many times are the sheeple going to have to get bent over before they figure out the CBs are not their friend?  It's like watching a bad movie over and over...

Tue, 08/14/2012 - 21:59 | 2705659 orangegeek
orangegeek's picture

Going going going.....Aaaaand it's gone.   You forgot the going going going part.

Tue, 08/14/2012 - 22:10 | 2705670 dirtbagger
dirtbagger's picture

I feel bad for Amber Gold.  If he had been raised in NY City he would have made billions, not a paltry 24 million.  Wouldn't have to worry to much about prosecution in the US - doing God's work.

Wed, 08/15/2012 - 00:27 | 2705911 AlaricBalth
AlaricBalth's picture

I don't feel bad for Amber Gold. I gave her $4700 at Scores the other night, as we sat in the champagne room and lots of her friends danced for us. They told me we made a great couple. We really hit it off. At closing time I gave her the key to my hotel suite at the St. Regis and she said she would meet me there at 4:00 am. I waited for Amber to arrive until 6:00 or so, then I must have fallen asleep. When I woke up, my wallet was gone and the room had been ransacked. I also had this pain in my side and...

Oh wait...Sorry folks. Wrong Amber Gold.

Tue, 08/14/2012 - 22:14 | 2705675 Neethgie
Neethgie's picture

my mum likes property as an investment, i know its awful ect, but for her she doesnt mind, because it "exists" its always there it cant dissapeer over night, well it can but it would take alot of effort.. it cant just be erased from a database, the worst part is she asked me about ETF's the other day and whether i would reccoment them and i was like noooooooooooooooooooooooo, poor women has a few £ to look after and for the not financially aware they can dissapeer very fast.

Tue, 08/14/2012 - 23:11 | 2705808 CrockettAlmanac.com
CrockettAlmanac.com's picture

If mum likes property then suggest that she buy land suitable for agricultural use.

Tue, 08/14/2012 - 23:31 | 2705831 Neethgie
Neethgie's picture

i suggested to do so, its actually rather cheap around here too.

Tue, 08/14/2012 - 22:15 | 2705677 phyregold
phyregold's picture

So i've been thinking about my next play.  And to me it's oil than wheat than gold.

I believe the event will occur like this:

  • War with Iran huge spike in oil
  • This will cause the collapse of the EURO than the USD will spike for a little bit.
  • Wheat supplies will run out increase the price of wheat
  • Sell wheat buy gold because they will have to inflat.

 

I'm imagining gold dipping twice before the real spike, once because of the confidence in US in war and again as a safe haven for the EURO collapse.

 

 

Am i nuts?

Tue, 08/14/2012 - 22:27 | 2705704 ebworthen
ebworthen's picture

Diversify, whatever you do.

Who knows what games will be played with Oil.

Wheat is food but there are stockpiles and if there is a shortage don't underestimate the ability of corporate farms to overplant a year or two in the future and crush prices (besides speculation and politics).

Sooner or later they will raise rates and inflate but that will hit gold to some extent (besides Blythe and the J.P. Morgue and the FED trying to suppress real money).

Arable land with water rights, guns/ammo, gold/silver, and even some of those go nowhere treasuries and some of the bubble equities that will be inflated into the sunset of the Western World.

Tue, 08/14/2012 - 22:39 | 2705737 eddiebe
eddiebe's picture

Plausible, but then it's hard to predict the future, isnt it.

Tue, 08/14/2012 - 23:16 | 2705814 CrockettAlmanac.com
CrockettAlmanac.com's picture

I knew you were going to say that.

Wed, 08/15/2012 - 00:03 | 2705879 Nadaclue
Nadaclue's picture

So, your going to trade a fixed formula against the Comex traders who have been in the pits for 5, 10, 20, 30 years trading daily and you're asking ZH'ers if it is a good idea?

I'd say you are better off heading to Vegas and betting the whole lot on Red/Black at roulette.

Git yer head outta yer ass son, yer talkin big leagues in the pit.

Rethink your thinkin.

Just some friendly advice. :)

Wed, 08/15/2012 - 01:33 | 2705972 Dingleberry
Dingleberry's picture

Ain't too many traders left in the pits......HFT algos took care of that. There is no trading. Only gambling.

Tue, 08/14/2012 - 22:21 | 2705686 ebworthen
ebworthen's picture

No different from investing in "Equities" and the stock market, where your money is always at risk of HFT, theft, flash crashes, Central Bank jiggering, taxation, sequestration, subordination, confiscation.

Fuck it all.

I'm investing in things I can defend with my body, my guns, my life.

Go to Hell Washington and Wall Street.  HELL.

Tue, 08/14/2012 - 23:32 | 2705832 WillyGroper
WillyGroper's picture

>>>>>>>Go to Hell Washington and Wall Street.

You go to Hell & you die! There fixed it.

Tue, 08/14/2012 - 22:21 | 2705688 wrongsideof30
wrongsideof30's picture

Where can I buy precious metals that will allow me to get immediate delivery?

Tue, 08/14/2012 - 22:23 | 2705695 ebworthen
ebworthen's picture

APMEX is pretty direct and secure.

A little too high over spot and people will quibble about the "best" dealer but if you are in the U.S. it is a straightforward operation to get physical delivered.

Remember, there are always boating accidents and benders in Vegas.

Tue, 08/14/2012 - 23:34 | 2705834 yabyum
yabyum's picture

Hookers & blow, and bad leaky canoes. Always a ZH flaw.

Tue, 08/14/2012 - 23:35 | 2705835 fuu
fuu's picture

Sounds like a country song.

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