OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

Kind of reminds me of training an attack dog and suddenly it’s attacking your friends and family!

At least if the Kurds got the weapons a month later they wouldn’t be in the hands of the jihadis.

Yeah, at least the PM shares are up a little. This is it! D’oh!

Kind of gives a little credibility to those nasty conspiracy theorists who said ISIS was a creation of the US-UK-Israel triad.

Nice to see pm’s holding their own on a jobs report day. Course they’re not really up, but I thought we were going to get hit for a $50 down day today.

My guess is, like Armstrong and Norcini, most likely Barry won’t respond to questions of this nature

Is gold ‘shrugging off Armageddon’ or just being shrugged off?

Wednesday, July 1, 2015

Dear Mr. Ritholtz:

Your commentary today, “Gold Shrugs Off Armageddon”- http://www.bloombergview.com/articles/2015-07-01/gold-shrugs-off-armaged – invites people to e-mail you “explaining how wrong and stupid I am.

Instead, may I write you to ask that in future commentary you address a few specific questions of fact and that you review and respond to some documentation about the gold market?

• Particularly:
• Was the Banque de France’s director of market operations, Alexandre Gautier, telling the truth when he told the London Bullion Market Association meeting in Rome in September 2013 that the bank is secretly trading gold for its own account and the accounts of other central banks “nearly on a daily basis”? (See: http://www.gata.org/node/13373.)
• Is the Bank for International Settlements telling the truth when it maintains in its annual report that it does the same sort of secret trading on behalf of its member central banks, trading not only gold itself but also gold futures, options, and other derivatives? (See: http://www.gata.org/node/12717.)
• Is the BIS sincere when it advertises that it undertakes secret interventions in the gold market for its members? (See http://www.gata.org/node/11012.)
• Was CME Group, which operates the major futures exchanges in the United States, telling the truth last year when it told the U.S. Commodity Futures Trading Commission that it is offering volume trading discounts to central banks for secretly trading all contracts on its exchanges? (See http://www.gata.org/node/14385.)
• Was CME Group telling the truth last year when it told the U.S. Securities and Exchange commission that its customers include governments and central banks? (See http://www.gata.org/node/14411.)
• If central banks are indeed doing so much secret trading in the gold market and other markets, what are their objectives and might this secret trading be intended to manipulate markets, support government currencies and bonds, and deceive and cheat investors who think that markets are free trading?

There is a lot more documentation suggesting as much here: http://www.gata.org/node/14839

My organization would welcome an honest exchange with you about these things, as your commentaries about gold seem to overlook the most relevant “narrative” about the monetary metal and ignore a substantial and serious audience quite different from the one you seem to enjoy engaging with.

With good wishes.

CHRIS POWELL, Secretary/Treasurer

Gold Anti-Trust Action Committee Inc.

Is Saudi Arabia Leaving The U.S. Behind For Russia?

Submitted by Tyler Durden on 07/02/2015 – 09:17

The news from the recent St. Petersburg Economic Forum, which took place from June 18 to 20, inspired a torrent of speculation on the future direction of energy prices. But the real buzz at the conference was the unexpected but much publicized visit of the Saudi Deputy Crown Prince, as an emissary of the King. The unusually high level delegation from a long-time ally and protectorate of the U.S., like Saudi Arabia, visiting a Russian sponsored economic conference, in a country sanctioned by the U.S. was news enough but could be the first sign of an emerging partnership between the two greatest global oil producers.

http://www.zerohedge.com/news/2015-07-02/saudi-arabia-leaving-us-behind-russia

US blocks attempts by Arab allies to fly heavy weapons directly to Kurds to fight Islamic State

The United States has blocked attempts by its Middle East allies to fly heavy weapons directly to the Kurds fighting Islamic State jihadists in Iraq, The Telegraph has learnt.

Some of America’s closest allies say President Barack Obama and other Western leaders, including David Cameron, are failing to show strategic leadership over the world’s gravest security crisis for decades.

They now say they are willing to “go it alone” in supplying heavy weapons to the Kurds, even if means defying the Iraqi authorities and their American backers, who demand all weapons be channelled through Baghdad.

High level officials from Gulf and other states have told this newspaper that all attempts to persuade Mr Obama of the need to arm the Kurds directly as part of more vigorous plans to take on Islamic State of Iraq and the Levant (Isil) have failed. The Senate voted down one attempt by supporters of the Kurdish cause last month.

The officials say they are looking at new ways to take the fight to Isil without seeking US approval

more http://www.telegraph.co.uk/news/worldnews/islamic-state/11712237/US-blocks-attempts-by-Arab-allies-to-fly-heavy-weapons-directly-to-Kurds-to-fight-Islamic-State.html

LONDON – The British government is urging school leaders to use their “common law powers” to search student lunches and potentially confiscate any items they deem “unhealthy or inappropriate.”

Education minister Lord Nash tells Express, “Schools have common law powers to search pupils, with their consent, for items.

“There is nothing to prevent schools from having a policy of inspecting lunch boxes for food items that are prohibited under their school food policies.

“A member of staff may confiscate, keep or destroy such items found as a result of the search if it is reasonable to do so in the circumstances.”

The government’s foray into lunch inspections began when Cherry Tree Primary School in Colchester banned a Peperami sausage snack and scotch eggs from a six-year-old girl’s lunch.

more http://eagnews.org/teachers-granted-power-to-confiscate-and-destroy-unhealthy-school-lunches/

Silver streaks… in stereo. Which way is silver going?
These two are traveling in opposite directions
at 270 Kph!
http://www.railpictures.net/viewphoto.php?id=536358

Do you read minds?  I was just thinking of you when I saw that big full moon last night and wondering what craziness it would manifest this time.  Thank you!

even though the $ is red and jobs # weak-nothing new-no surprise…I’m outa here…I’ve got a life to lead…[Har Har!]…I’m a busy man….

Thanks for the astro forecast Moggy. I’ve seen you post more negative ones but still I think it’s time to stash more rice and beans.

Thanks I needed that! 🙂

Atlantic Gold Confirms Economics of the MRC Project in Nova Scota in Feasibility Study With After Tax NPV of $168 Million and After Tax IRR of 30%

http://finance.yahoo.com/news/atlantic-gold-confirms-economics-mrc-120000165.html

BitGold Inc. Reports June 2015 Key Performance Indicators

http://finance.yahoo.com/news/bitgold-inc-reports-june-2015-122200966.html

CB Gold Inc. Receives Registration of the Concession Contracts for Its 100% Owned La Peter, Santa Isabel and Los Delirios Properties in Vetas

http://finance.yahoo.com/news/cb-gold-inc-receives-registration-123000454.html

Great Panther Silver Provides Update on 2015 Drilling Programs

http://finance.yahoo.com/news/great-panther-silver-provides-2015-123000579.html

Take the case of Georg Funke, who ran Depfa, a German public mortgage bank. Depfa helped Athens get a star credit rating, raised €265 million for the Greek government railway, helped Portugal borrow €200 million to build up a water supplier, and gave €90 million to Spain to construct a privately operated road in Galicia. For a while, the middle class in Greece like the middle classes in Spain and Ireland, benefited from the infrastructure spending stimulus. When Depfa nearly collapsed in 2008, Funke was fired.

Or take the case of Georges Pauget, the CEO of Crédit Agricole in France, who bought up Emporiki Bank of Greece for €3.1 billion in cash in 2006. Over the next six years, Emporiki lost money year after year, blowing money on one foolish venture after another, until finally, Crédit Agricole sold it for €1 – not €1 billion or even €1 million – but a single euro to Alpha Bank in October 2012. Crédit Agricole’s cumulative loss? €5.3 billion.

Money poured in from other banks like Dexia of Belgium. Via Kommunalkredit, Dexia loaned €25 million to Yiannis Kazakos, the mayor of Zografou, a suburb of Athens, to buy land to build a shopping mall. It made similar loans to other Greek municipal authorities including Acharnon, Melisia, Metamorfosis, Nea Ionia, Serres, and Volos.

“The tsunami of cheap credit that rolled across the planet between 2002 and 2007 … wasn’t just money, it was temptation,” financial writer Michael Lewis wrote in Vanity Fair. “Entire countries were told, “The lights are out, you can do whatever you want to do, and no one will ever know.

But as Stiglitz has noted, these German and French banks have now been rescued. An ATTAC Austria study showed that 77 percent of the €207 billion provided for the so-called “Greek bail-out” went to the financial sector and not to the people.

How the Greeks will vote on the European Union austerity package this Sunday is hard to predict, but more must be done – it is time to investigate the bankers who created the EuroZone crisis and hold them accountable.

But the bankers are not the only ones. There must be repercussions for the European Union bureaucrats and politicians who promoted the idea that free-market competition in financial services would benefit everyone.

Oh never mind……it’s party central in the Hamptons this weekend…only problem is the dealers are running out of Blow, demand is so high……

China controls gold

Laws of the People’s Republic of China

REGULATIONS ON THE CONTROL OF GOLD AND SILVER

CHAPTER V CONTROL OF GOLD AND SILVER TAKEN INTO OR OUT OF THE PEOPLE’S REPUBLIC OF CHINA

Regulations of the PRC on the Control of Gold and Silver

(Promulgated June 15, 1983 by the State Council.)

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etc.

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Article 28. When Chinese citizens, foreign nationals or Stateless persons residing in the People’s Republic of China wish to leave the People’s Republic of China to live permanently abroad the maximum amount per person of gold and silver which may be taken out of the People’s Republic of China is:

gold ornaments, 1 liang (31.25 grams)

silver ornaments, 10 liang (312.50 grams)

silver utensils, 20 liang (625 grams)

An inspection shall be made by the People’s Republic of China Customs and clearance given only to amounts that conform to regulations.

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Oops.

http://worldcomplex.blogspot.com/2015/07/china-controls-gold.html

A better class of gold bug

Gary T over at Biiwii does what I can’t be bothered to do and replies to Ritholtz’s gold baiting piece of yesterday. The other thing with Gary is that he does it much better than I could have done. Excerpt:

“I am a gold bug. I saw the “improvement of the U.S. economy” when it was appropriate to see it, ahead of time. When you obsess on the other kind of gold bug, the media star with the Armageddon-like predictions and inflammatory ‘analysis’ or Kool-Aid drinking hate mailers, you do a disservice to your readership because you only present the other side of something that is not real to begin with. You in essence stand up a Straw Man and periodically set fire to him, really to no one’s benefit.”

more http://biiwii.com/wordpress/2015/07/02/ritholtz-on-gold/

Americans Not In The Labor Force Soar By 640,000 To Record 93.6 Million; Participation Rate Drops To 1977 Levels

Submitted by Tyler Durden on 07/02/2015 08:53 -0400

The devastation of the US labor force continues.

In what was an “unambiguously” unpleasant June jobs payrolls report, with both April and May jobs revised lower, the fact that the number of Americans not in the labor force soared once again, this time by a whopping 640,000 or the most since April 2014 to a record 93.6 million, with the result being a participation rate of 62.6 or where itt was in September 1977, will merely catalyze even more upside to the so called “market” which continues to reflect nothing but central bank liquidity, and thus – the accelerating deterioration of the broader economy.

End result: with the civilian employment to population ratio dropping from last month to 59.3%, one can easily on the chart below why there will be no broad wage growth any time soon, which will merely allow the Fed to engage in its failed policies for a long, long time.

http://www.zerohedge.com/news/2015-07-02/goldman-conspiracy-theory-validated-ecb-expands-qe-program

No wonder they never have a down day….they own everyone !!!!!!

EuroZone Profiteers: How German and French Banks Helped Bankrupt Greece

DATA:  July 1, 2015 @ 10:21 PM – Washington, D.C.

The first of two Full Moons in July 2015, this one occurs in the sign Capricorn and falls into the 11^th house.  A Capricorn Lunation brings old, past conditions to the fore, often culminating in long-standing issues.  Being above the horizon, indicating its social nature, and is also a succedent house, indicating it has something to do with resources, the 11^th house is one of social attachments and anchors one in the social universe.  This house signifies the people and groups to whom we relate; with the Moon so positioned, there is a strong need for group interaction and so, over the course of this month, watch the legislative branches and international gatherings.

In the news we will see Capricorn-related events:  issues of senior citizens, political officials, police, and those in the employ of city, state or federal government.

Ruler Saturn is retrograde, now in the sign Scorpio, and posited in the 9^th house of religion, international events, immigration, the Constitution and the judiciary branch…that not so august group whose recent rainbow decision has tolled the bells for morality.  (It is not unusual for an event to occur a week prior to Full Moon.)

The Moon is sextile 1^st house Neptune in Pisces creating a tendency for the public to be extremely sensitive to the moods of others.  Take precautions not to be with negative people or those who have destructive energies, for they will exhaust you.  Instead, lend yourself to works of charity and you will be in the flow of the Moon/Neptune energies.

Aquarius Rises, ruler Uranus posited in the 2^nd house…the financial state of the nation, its resources, and its purchasing power.  Uranus is trine Venus/Jupiter in the 7^th house; the nation will no doubt continue to plunder foreign nations in order to fill the empty coffers.  Uranus is square 12^th house Pluto, still effectively sweeping away all the old and outworn structures that were built up over the course of our lives; the house position of Pluto has much influence over the hardships it is causing; the drastic changes being encountered are mainly due to social and economic forces beyond our control.  To the best of your ability forge a relationship with God if you have not already done so in order to meet the challenges with a brave heart.

The way of the Creative works through change and transformation, so that each thing receives its true nature and destiny and comes into permanent accord with the Great Harmony: this is what furthers and what perseveres.   Alexander Pope

“I dream of having an up day!”

In an echo of Leon Black, Frank Maturo, vice chairman of equity capital markets at UBS AG, said, “Private equity is selling everything that’s not bolted down. With the robust valuations in today’s market, they are accelerating monetizations of companies they own.”
But what does the smart money know, anyway… aside, of course, from selling when they can not when they have to.

And now back to CNBC and their paper-money “trader” talking heads saying there is only upside from here to eternity. Let’s see if we have these right: “the money is still on the sidelines”, “there is a wall of worry”, “Greece is a dip-buying opportunity”, actually “everything is a dip-buying opportunity”, “stocks are not a bubble, it is bonds that are a bubble”, “the economic recovery is just around the corner” and “99% percentile valuations are just slightly stretched if you seasonally-adjusted them enough times.”

That about covers it.

http://www.zerohedge.com/news/2015-07-01/smartest-money-liquidating-stocks-record-pace-theyre-selling-everything-that’s-not-b
The “Smartest Money” Is Liquidating Stocks At A Record Pace: “Selling Everything That’s Not Bolted Down”

Submitted by Tyler Durden on 07/01/2015 20:58 -0400

Just over two years ago, at the Milken global conference, the head of Apollo Group Leon Black said that “this is an almost biblical opportunity to reap gains and sell” adding that his firm has been a net seller for the last 15 months, ending with the emphatic punchline that Apollo is “selling everything that is not nailed down.”