“So let me get this straight, the price of silver is plummeting and the demand for silver is going through the roof so much so that the US Treasury Secretary, Jack Lew, found it necessary to halt the production (ie demand) for the #1 use of retail physical silver. His other choice, and the one that is mandated by the Bullion Coin Act of 1985, was to continue purchasing silver blanks to fill demand even though it may drive the price of silver much higher.”

BY DEFINITION: US Treasury Secretary, Jack Lew, is artificially manipulating the silver market as his actions are meant to STOP the upward pressure on the price of silver and support the manipulation actions.

US Treasury Secretary, Jack Lew, should be charged for the illegal act of willfully manipulating the silver market!

The bright side of all this: Jack Lew is telegraphing just how long we should expect to see the silver price held down until the next leg up begins – July 27th!

Tick, tick, Tick.

The problem, in addition to Jack the bankster, is that these dumb ass miners continue to sell the metals at a loss. They are the only companies in any market that throw their shareholders under the bus continually. They have done it for years and continue to do so. They are as treasonous as old Jack.  So much garbage needs to be cleaned up. So many traitors like Jack Lew need to be hanged.

Finally we agree on something!! All the Best……Silverngold

Don’t bother buying a car. Stop buying things you don’t need. You don’t have to keep up with the Joneses. The best car to own, is car you already own. Stop consuming. Ask yourself the question, do you really need it? Consumption is not the answer. New stuff is a guarantee for more problems. Looking for happiness or fulfillment?  Volunteer.  Help others. Be thankful

Forgiveness of DEBT or Default does it make any difference ?  You might as well Forgive and look good  in doing so since you are not going to get paid anyway ! At least get some “good will” from it !

If you love your country, you are supposed to buy a US made car, even if it’s not as good. Considerate it like a war. War is sacrifice, it’s supposed to hurt.

It’s all too late now anyway, and things are reversing naturally. People are rebelling against the past. I see many people SWITCHING over to US made cars from imports since the ’08 meltdown.

I met a lady at a garage sale. She had a new Chevy Suburban, told me….”We got rid of the Honda and bought that, we LOVE it. Next we are getting rid of our Toyota and buying another American car.”

Has ANYBODY noticed all the brand new V-8 Dodge Ram pick/up trucks lately? Or all the new Jeeps, Grand Cherokees, Wranglers etc erc? Brand new Tahoes and GMC Yukons all over the place. Ford vans and P/U trucks. People are buying more of the older technology trucks with high quality body on frame and V-8 engines.

Lately in my area, every time I see photos of a car accident, the imported uni-body “tuna can” is up-side down or on its side if you are lucky. Two recently erupted in flames, but not like the old times when the Pinto, or Chevy P/U trucks went on fire the media says nothing, no bashing, about the dangers of these small imported cars.

One lady got out of her burning Toyota that was rear ended, and could not open the doors to get her husband and two kids out. She watched them burn. Front page…”I want my family back”.

Uni-body, no frame, its a sheet metal BOX. When the shape gets distorted you CAN’T open the freakin doors.

The people and TPTB, have learned a lot about America’s problems because of that meltdown in ’08. A very big learning experience.

In my decades of observations, the American cars made up thru 1950s and early sixties were the best on the planet. You got a reliable, durable, simple, user friendly car that lasted forever. Many are still in use in Cuba.

We had high quality thicker steel that did not rust out in a few years. We had chrome plated BUMPERS made of 1/8 inch thick steel. They were even good on gas, and real cheap and easy to maintain and repair YOURSELF!!!

Our cars were the BEST available until, the high quality but cheaper imports flowed in after 1960? Higher quality is SUPPOSED to be more expensive, not cheaper. So the subsidized cars being dumped on our shores, FORCED domestic producers to “cut corners” using recycled cheaper thinner steel so they rust out, piss you off, and you do exactly what the welfare PTB world wants YOU to do. Buy an import and contribute welfare money to nations we had to fight against, in wars, and then rebuild their countries at our expense.

Just like real money versus fiat money, the “bad” foreign cars drove out the “good” for the USA cars.

Re the alleged “domestic made” foreign cars?? Still adds to the trade and US consumer dollar deficit. They are assembly plants made from imported parts. (probably China for Jap cars) It’s a good symbolic public relations ploy, (throwing us a bone) and they can cram more cars on a ship when dissembled, so they save money besides. It’s the minority.

The majority of foreign made cars come off ships in ports. I’ve seen aerial views of acres and acres and thousands of imported cars right near the ships that brought them here.

… lest we lose focus

It amuses me to no end to see what a certain “TA Site” offers… true believers that TA still works! I learned long ago… and many here will agree… that the market manipulations we see are real, and part of a concerted program of ‘control’ by TPTB… namely the Fed and government and bankster cartel. What’s that old saying? “Don’t fight the FED”.

I resigned myself to the knowledge that paper was not the place to be. That left ‘stacking physical’ as the only sane option. Even though the manipulators ever ‘control’ the price of physical downward to make it ‘appear’ to be a bad investment. But holding physical at this point in time is no longer about a ‘good investment’ that ‘makes money’. No… it is now about survival when this monster ponzi scheme implodes the world’s reserve currency… and the USA economy.

George Ure at www.urbansurvival.com and others have made the point that when looking at the ‘Big Picture’, the FED is actually fighting deflation. Under such a scenario it is not unusual for gold to go down, also. The point is that gold will go down less than other assets that collapse under a deflation/debt destruction scenario. And that is where I want to be. Bringing some purchasing power through the economic vaporization at the end game. Physical gold and silver in your control… that you can hold and touch. And a lot of patience…

Meanwhile, it is a summer Saturday, hot and well pollinated. Time for a dip at the swimming hole.

FROM ZH—–
Greece: Banks Can Reopen … for Deposits
Jul 17, 2015

Take, for example, the recently-announced ‘generosity’ of the powers that be — that is, the banking powers that be — which will permit the long suffering depositors to…*cough*…deposit more money into the banks:

Greece: Banks Can Reopen … for Deposits
Jul 17, 2015

Greek banks will reopen Monday after a three-week closure, the country’s deputy finance minister says, though withdrawal restrictions will stay in place. Bank customers “can deposit cash, they can transfer money from one account to the other,” but they can’t withdraw money except at ATMs, the official says, and a withdrawal limit of 60 euros ($67) a day will stay in place, he said, though Greek authorities are working on a plan to allow people to roll over access to their funds so that if they don’t make it to a bank machine one day, they can take out 120 euros the next day.

Yeah, depositing more money into the Greek banking system is exactly what all 12 remaining Greek idiots are clamoring to do…everybody else just wants their money back, thank-you-very-much.

Obviously, the only rational response of anybody in Europe watching this charade of theft continue would be to sell gold, right?(which has happened vigorously ever since the Greek crisis began) Because, you know,

nothing says “confidence” quite like selling your gold so you can then park that money in a bank that may not let you withdraw it again.

Of course, we here at Peak Prosperity hold to the view that everything, and we mean everything, in our ””markets”” is stage-managed. And that especially includes gold. The central banks are demanding and commanding complete fealty to their story line, no exceptions tolerated. We are at that all-or-nothing moment in history when everything either works out perfectly or it all falls apart.

Savers have to be punished so debtors can be saved.

Why? Because if debtors are rescued, that makes it possible for more debts to be issued in the future..

And why is that important? Because the banking system needs ever more loans in order to survive.

http://www.zerohedge.com/news/2015-07-18/all-hail-our-banking-overlords

So we will see twin $200 trillion debt and $1.5 quadrillion derivatives implosions. That will lead to the most historic wealth destruction ever in global stock, with bond and property markets declining at least 75 – 95 percent. World trade will also contract dramatically and we will see massive hardship across the globe.
So what do you think is coming, and how bad will things ultimately get once this global debt crisis finally spins totally out of control?

In addition to Spain, Italy and France, let us not forget Belgium (106 percent debt to GDP), Ireland (109 debt to GDP) and Portugal (130 debt to GDP).

Once all of these dominoes start falling, the consequences for our massively overleveraged global financial system will be absolutely catastrophic…

Spain has over $1.0 trillion in debt outstanding… and Italy has €2.6 trillion. These bonds are backstopping tens of trillions of Euros’ worth of derivatives trades. A haircut or debt forgiveness for them would trigger systemic failure in Europe.

EU banks as a whole are leveraged at 26-to-1. At these leverage levels, even a 4% drop in asset prices wipes out ALL of your capital. And any haircut of Greek, Spanish, Italian and French debt would be a lot more than 4%.
Things in Asia look quite ominous as well.

According to Bloomberg, debt levels in China have risen to levels never recorded before…

While China’s economic expansion beat analysts’ forecasts in the second quarter, the country’s debt levels increased at an even faster pace.
Outstanding loans for companies and households stood at a record 207 percent of gross domestic product at the end of June, up from 125 percent in 2008, data compiled by Bloomberg show.
And remember, that doesn’t even include government debt. When you throw all forms of debt into the mix, the overall debt to GDP number for China is rapidly approaching 300 percent.

In Japan, things are even worse. The government debt to GDP ratio in Japan is now up to an astounding 230 percent. That number has gotten so high that it is hard to believe that it could possibly be true. At some point an implosion is coming in Japan which is going to shock the world.

Of course the same thing could be said about the entire planet. Yes, national governments and central banks have been attempting to kick the can down the road for as long as possible, but everyone knows that this is not going to end well.

And when things do really start falling apart, it will be unlike anything that we have ever seen before. Just consider what Egon von Greyerz recently told King World News…

Eric, there are now more problem areas in the world, rather than stable situations. No major nation in the West can repay its debts. The same is true for Japan and most of the emerging markets. Europe is a failed experiment for socialism and deficit spending. China is a massive bubble, in terms of its stock markets, property markets and shadow banking system. Japan is also a basket case and the U.S. is the most indebted country in the world and has lived above its means for over 50 years.

So we will see twin $200 trillion debt and $1.5 quadrillion derivatives implosions. That will lead to the most historic wealth destruction ever in global stock, with bond and property markets declining at least 75 – 95 percent. World trade will also contract dramatically and we will see massive hardship across the globe.
So what do you think is coming, and how bad will things ultimately get once this global debt crisis finally spins totally out of control?

http://www.zerohedge.com/news/2015-07-17/bankruptcy-planet-accelerates-–-24-nations-are-currently-facing-debt-crisis

http://www.youtube.com/watch?v=viun7H9ctys

Any significant break below that will be bad news. I will still be dollar-cost-averaging to $350 if necessary.

keep on stacking!

Things may get far worse before they get better. I have no idea about the inflation/deflation thing but I don’t trust anybody’s paper so I have defaulted to phiz. Th worldwide debt repudiation ain’t going to be pretty.

rno

“Gold is poised for a massive short-covering rally, almost certainly the largest one in recent years given the record extremes of shorts that have to be bought back. This is super-bullish!”

Shorts in gold related vehicles of any kind – NEVER HAVE TO COVER

Hamilton is like every other promoter, horrible.

A cynical old friend of mine said:

“It’s always darkest just before it goes completely black!”

11 and three 3’s   911

Adam Hamilton

“Gold is poised for a massive short-covering rally, almost certainly the largest one in recent years given the record extremes of shorts that have to be bought back. This is super-bullish!”

Yet even facing such howling headwinds with everything stacked against it, gold still saw sharp short-covering rallies after American futures speculators’ shorts grew too excessive. This created a trading range of these positions in recent years as you can see in this chart, running from about 75k-contract support up to 150k-contract resistance. Speculators’ shorts returned to support multiple times in recent years.

And right after episodes when these leveraged downside bets on gold exceeded 150k contracts like they are at today’s record, major short covering soon ensued. This led to sharp gold rallies blasting 16.2% higher in 10 weeks on average. These are big gains anytime, let alone when everyone is hyper-bearish on gold. And since speculators’ gold-futures shorts are so epic today, the next short-covering rally will likely be huge.

Even since 2013 in these surreal Fed-distorted markets, speculators have bought to cover their total shorts down to 75k contracts several times. The last short-covering spree ended in early February 2015 at 70.4k contracts, a buying frenzy that catapulted gold 14.2% higher in just over 10 weeks. So it is very conservative to expect speculators to once again buy down their short positions to return back to 75k support.

From their current record extreme of 179.0i, it will require a staggering 104.0k of long-contract buying to return to 75k. And since each contract controls 100 ounces of gold, this collectively represents 323.5 metric tons of buying on short covering alone by this single group of traders! That is a colossal amount of gold buying in a short period of time, several months on the outside. Short covering soon feeds on itself.

Today at $1150 gold, each futures contract is worth $115,000. Yet the minimum maintenance margin per contract is now only $3750. So futures speculators can run leverage up near 31x, astoundingly risky. At such levels, a mere 3.3% gold rally would wipe out 100% of the capital they risked! So once gold starts moving, these speculators have to rapidly cover to avoid catastrophic losses. So they buy aggressively.

And their very short covering accelerates gold’s gains, putting pressure on the rest of the speculators who are not running minimum margin and maximum leverage. So they are soon forced to buy to cover too, putting even more upside pressure on the gold price. So once even a minor gold rally ignites a serious bout of short covering, it rarely stops until it has fully run its course. And today we are in for a massive one!

That 104k contracts of short covering necessary to return to recent years’ support of 75k again is the equivalent of 323.5 tonnes of gold. And it will all hit over several months or so. Let’s call it 3, since the average duration of short-covering frenzies in recent years is 10 weeks. That is 107.8t of additional gold demand monthly that doesn’t exist now. And according to the World Gold Council, that is wildly bullish.

The WGC’s latest figures showed average global investment demand in gold of 92.9t per month in the first quarter of 2015. So for the several months it takes to unfold, American futures speculators’ short covering alone will increase worldwide gold investment demand by an amazing 116%! This will fuel a sharp gold rally as always. At the recent-year average of 16.2%, gold would surge to $1335 in 10 weeks.

But I strongly suspect that gold’s imminent short-covering rally will be significantly larger coming from such extreme record levels of short selling. The bigger the short positions, the more buying is naturally required to unwind them back to reasonable levels. So instead of gold looking utterly hopeless today as everyone believes, it has an exceedingly-bullish setup. Major lows fueled by shorting are artificial and short-lived.

There are a couple more key observations from this gold chart before we move on to silver. Note that the gold price has had an incredibly-strong inverse correlation with American speculators’ total level of gold-futures shorts in recent years. When this short selling is temporarily adding futures supply, gold falls. And when it reverses into buying, gold rallies. Speculators’ shorting is literally the whole story on gold recently!

With investors still missing in action thanks to the Fed’s gross market distortions, speculators are ruling the roost. But provocatively, gold has been relatively resilient despite their extreme shorting this year. Even in the midst of its worst time of the year fundamentally in terms of seasonal demand spikes, the gold price hasn’t fallen below its early-November-2014 lows despite speculators’ futures shorting being much higher.

That means there are buyers out there absorbing this excessive gold-futures selling. Imagine how much this latent demand will explode once gold rallies enough to convince these hardcore contrarians that things are finally changing. Gold is poised for a massive short-covering rally, almost certainly the largest one in recent years given the record extremes of shorts that have to be bought back. This is super-bullish!

http://news.goldseek.com/Zealllc/1437149245.php

The massive shorts in the PMs can never be covered. They will continue to short paper PMs and the price will continue to drop until it all blows up. The lower the price of PMs when they claim force  majeure the better for them as they will settle in paper dollars and the holders of claims on bullion will be left standing watching the price of bullion rise!

Monsanto to take over MJ.

http://medicalmarijuana411.com/drug-maker-will-soon-hold-patent-on-thc-cbd-as-cancer-cures/

I owned Lexus LX400 since the first year for 15 years. Never once did I have a problem – EVER. When I took it in for maintenance they always gave me a loaner car and treated me like I was a king.

I’ve owned a Mustang, Taurus and a Suburban. They were all a problem. The Suburban was a lemon and I got a complete refund. This was back in the 80’s-90’s. Maybe they are better now, but I’ll never take the risk again. US automakers have done this to themselves.

I’m going to post an exchange I had with the webmaster of KWN. All I can say is WOW. If you think those guys give a rats ass about your financial well being you are mistaken. Out of the gates this guy was unbelievable.

every so often until he got pizzed off when they gave him a sub-compact ( he is 6foot four) for a loaner when the lincoln was in the shop.  He bought a lexus ( a hi class toyota). He has owned it for over 10 years and won’t trade it in.Unlike the ford, which he owned for two or three years at a time, the lexus is trouble free. He loves it and will never go back. I also know someone who was a sales manager for a GM dealership for 30 years and when he retired guess what he bought. A nissan! Lets hope success doesn’t get to Japanese carmakers and they become fat and lazy like GM did.

worse Car I ever had was Cadillac I bought in the 70,s followed by a Olds 98 ..after the motor mount fell off the Olds I had had enough ..Bought nothing but Toyota since  .Will not go back …as long as Thugs run the union and make the cars..

My Corolla gets 37mpg using ethanol in Virginia and as much as 40 mpg when I use Russian Gas (Lukoil).when Im in NJ..

The Corolla is 2003 and has never been in the dealers shop for repairs ,brakes lasted 80,000 miles as did Bridgestone tires .

I have had 3 Celicas and 4 corollas between the wife and I since the 70;s will buy nothing else..None of them had been to the dealers shop .

In fact when my son moved to California he bought my wifes corolla for $200 with 250,000 miles on it and drove it for two more years and only sold it because it wouldent pass environment pollution tests under new Cali inspection Laws ..

I still have a running debate with my son whose Ford gets 5 miles per gal less in Cal than identical car I rented in Va ..How does that protect the environment getting 5 mpg less to go the same mileage and with special formulated fuel costing $1 more per gallon …its nuts !

Hot money has been flowing into China Yuan appears to be topping and coupled with China Stock Market Peaks seems to confirm a Yuan TOP ..

Takin together with Lows in $Gold  The Seasonal Gold seems to be in REVERSE Mode where Prices of a Stock or Commodity get into a Reversal Year where former Tops are made in the Same months as LOWS instead of Tops .Therefore As the BAR charts show  Gold Bottom this year should be in August ! (Reversal Years happen usually after 4 normal years when extreme peaks are put in,but the turn Months remain the Same!) I believe Gold is in a REVERSAL YEAR so the Bottom should be in August …Why use China Currency ..thats where the action has been and trillions have been flowing there including $ ..China is the KEY  to US Gold and they have been buyers of Gold all along..with their incredable cash FLow .Now cash is turning and looking for a safe haven AND nothing is cheaper than Gold ,certainly no commodities that have all made tops earlier and are falling.witness OIL,Copper Iron Ore etc   The exception is GOLD….It cannot escape Chines eyes that are looking for a refuge ….!

I remember in the seventies going to a dealer to get a fuel pump for a pontiac (back then you had to go to a dealer to get most parts) and being charged an outrageous price. When I objected, they just laughed at me. I vowed then that I would never buy a GM product again. The worst car I have ever had was a ford LTD. I have a 2 year old rice burner that gets over 40 MPG ( thats 33MPG in us gallons) has all the power I need, fit and finish perfect. handles like a charm and not one thing has gone wrong with it. When I take it to the dealer they charge me $61 for a filter and oil change (I could do it myself for $50) plus they top up all my fluids and wash my car for me no extra charge. Why would I ever buy GM again?