7-23-2013 from zerohedge.com
Gold surged over 3% yesterday due to the continual hemorrhaging of gold inventories from the COMEX.
Concerns about a default on the COMEX, once the preserve of a few observant market watchers, are becoming more widespread as we appear to be witnessing a run on the highly leveraged bullion banking system.
Very robust physical demand from the Middle East, Asia and particularly China and a decline in the dollar also helped prices log their biggest one-day gain in over a year and their first close above $1,300 an ounce in nearly five weeks.
Today many people are losing their savings to higher food and fuel costs, not to mention the effect of rising utility, cable and internet bills. People who have saved for the future are seeing their savings erode at an average of 8% a year.
What can you do to help yourself?
Catherine Austin Fitts, a former consultant to Presidents on economic matters, discusses with former CNN newsman Greg Hunter what is creating the current economic environment and what you can do. I call the video below MUST SEE TV.
Two tips that come from the video:
1. Invest in things for your home that cut your overhead (translate: electric bill, water bill, etc.) An example would be adding a wood burning stove if you have a traditional fireplace. Another example would be sealing your air leaks around doors and windows with new gasketing, insulation or caulking material. Or turn off lights when you leave a room.
2. Find ways to make yourself useful to your neighbors and to others.
Enjoy the video. Watch it all. The gold nuggets are scattered throughout.
In case the video disappears, here’s the link: http://www.youtube.com/watch?v=m-xjFkW2NuE
According to Chris Powell, former legislative Chairman of the Connecticut Council on Freedom of Information:
“[The] secret is that there are two gold markets–a visible market to mislead other markets . . . and an invisible market where gold is much different, and valued immensely more.”
A couple of days ago, I identified the two markets Mr. Powell is talking about.
The visible market is the 24-Hour Spot (Bid) Market. Some may prefer to call the London Fix Gold Price the visible public market. Either one fits Mr. Powell’s description.
The invisible gold market is the physical precious metals market. The most unregulated example of this market is eBay, where gold and silver coins are traded 24 hours a day between two private parties.
Mr. Powell claims that the invisible market values gold more. Why?
Because the visible market is imaginary: buyers and sellers are using paper chits to track bets between themselves about the number that the London Fix will set for the paper trades of precious metals. (ETF’s and other publicly traded investment vehicles mostly use this paper-based betting market for selling gold or silver.)
The invisible market, on the other hand, is real: it trades in actual metal, the kind you hold in your hand.
Do you doubt Mr. Powell’s assertion? Let me give you an example of what he means.
On Friday, May 24th, the following amounts were the numbers from each market:
Visible Market–Paper Trading
24-Hour Spot market closed at $1,386.30 per ounce for gold
London Fix $1,380.50 (Thursday’s quote)
Invisible Marekt–eBay Physical Metal (in your hand)
American Eagle one ounce gold coin (actual sales 5/23) range $1,590-$1,705 each
Gold, in the hand, is selling for $200 to $300 more per ounce than imaginary paper-based gold. One is a tanglible (you can touch it) asset, while the other is intangible.
from Daisy Luther:
Disassociate yourself completely with “the system” that is making Western civilization broke, overweight and unhealthy. Starve the Beast by taking as many of these steps as possible…
- Grow your own food (this starves Big Agri and Big Pharma both)
- Shop at local businesses with no corporate ties
- Use natural remedies instead of pharmaceuticals whenever possible
- Homeschool your children
- Walk or bike instead of driving when possible
- Get care from naturopaths and healers instead of doctors
- Make paper logs from scraps for free heat if you have a wood-burning fireplace or stove
- Boycott all processed foods
- Shop at local farmers markets
- Boycott corporate stores: Wal-Mart, Costco, Best Buy, Home Depot
- Give vouchers as gifts for an evening of babysitting, a homemade meal, walking the dog, doing a repair, or cleaning
- Join a CSA or farm co-op
- Ditch television (and all the propaganda and commercials)
- Participate in the barter system
- Buy secondhand from yard sales, Craigslist and thrift stores
- Sell your unwanted goods by having a yard sale or by putting an ad on Craigslist
- Repair things instead of replacing them
- Avoid fast food restaurants and chain restaurants
- Dine at locally owned establishments if you eat out
- Brew your own beer and wine
- Read a book, purchased second-hand or borrowed
- Grow or gather medicinal herbs
- Give homemade gifts
- Attend free local activities: lectures, concerts, play days at the park, library events
- Dumpster dive
- Play outside: hike, bike, picnic
- Mend clothing
- Invite someone over for dinner instead of meeting at a restaurant
- Throw creative birthday parties at home for your kids instead of renting a venue
- Camp instead of staying at a hotel
- Bring your coffee with you in a travel mug
- Do all of your Christmas shopping with small local businesses and artisans
- Reduce your electricity usage with candles, solar power and non-tech entertainment
- Drop the thermostat and put on a sweater
- Bring your snacks and drinks in a cooler when you go on a road trip
- Stay home – it’s way easier to avoid temptation that way
- Pack lunches for work and school
- Make delicious homemade treats as a hostess gift
- Close your bank account; or, at the very least, strictly limit your balance
- Visit u-pick berry patches and orchards, then preserve your harvest for the winter
- Use precious metals stored at home as your savings account
- Raise backyard chickens for your own eggs
- If you are a smoker, roll your own cigarettes – if possible go one step further and grow tobacco
- Live in a smaller, more efficient home
- Use solar power for lighting or cooking
- Collect rainwater for use in the garden
- Learn to forage
- Buy heavy, solid, handmade furniture instead of the flimsy imported stuff
- At the holidays, focus on activities and traditions instead of gifts. Go for a walk or drive through the neighborhood to look at lights, get into your PJs and watch a special movie together on Christmas Eve and make certain treats that can always be expected
- Make your own bath and body products using pure ingredients like coconut oil, essential oils, and herbal extracts
Serious stuff here. It’s highly recommended you watch and learn.
First Germany; Now the Swiss. Who’s next? And is the gold in American vaults?
Submitted by Tyler Durden on 03/21/2013 – 15:30
The Swiss National Bank (SNB), which supposedly guarantees price stability in Switzerland, currently holds about 1,040 tons of gold reserves after gradually selling off at least 1,550 tons and now members of the Swiss People’s Party, the far-right Swiss Democrats and the Lega dei Ticinesi movement, is confident a nationwide vote will be called (after they gathered 106,000 signatures) on stopping the sale of gold reserves held by the SNB. It also wants gold bars stored in the US to be returned. As Swiss Info reports, the People’s Party leader Luzi Stamm comments, “Gold reserves guarantee the stability of the Swiss franc. They ensure that that private savings, salaries, pension keep their value,” warning that gold must not be the object of speculation for the SNB or for politicians and demanding the SNB keep a minimum of 20 per cent of its assets in gold, twice the current level. In addition, they want to force the government to disclose where the gold reserves are stored, since “it is only in safe hands if it is kept in Switzerland.”