Wednesday, July 1, 2009
Evidence of Mythical U.S. Gold Treasure Buried in the Phillippines Pt 2
Amazing images of lost of Federal Reserve Gold Notes. Maybe there is Truth and Justice coming back to the world. I was witness personally to a Krupp Foundation documents based in the Philippines that were alleged to be held in Trust by someone from the Mormon church.
Evidence of Mythical U.S. Gold Treasure Buried in the Phillippines? Pt 1
Raye Allan from Rumormillnews.com has talked about a Templar Treasure buried in the Phillipines that is supposed to back Gold standards in Europe as well as America bringing back Constitutional Republics.
Tuesday, June 30, 2009
Ron Paul and Currency Competition Part 2
Edwin Vieira.
Newswithviews.com
First, Congress is causing a standard silver coin (the “Liberty dollar”) and a set of gold coins (“American Eagles” of various denominations) to be minted in amounts sufficient to meet public demand. See 31 U.S.C. § 5112(e and i).This is not yet constitutional “free coinage”, but (as the saying goes) it is “close enough for government work” at the present time.
Second, these coins are as much legal media of exchange, current money, and “legal tender” as are Federal Reserve Notes and the Treasury’s base-metallic coins. See 31 U.S.C. §§ 5101, 5103, 5112(h).
Third, unlike Federal Reserve Notes and base-metallic coins, “Liberty” and “Eagle” coins are economically sound, and (leaving aside their present inaccurate denominations) basically constitutional, currencies. Certainly they are far better on both counts than Federal Reserve Notes and base-metallic coins.
Fourth, any common American may enter into a “gold-clause contract” (payable exclusively in gold), or a “silver-clause contract” (payable exclusively in silver) that will be enforceable in the courts. See 31 U.S.C. § 5118(d)(2). Indeed, the only party in the United States that appears to be barred by statute from making a “gold-clause contract” or a “silver-clause contract” that is payable in coin and enforceable in those terms is the General Government. See 31 U.S.C. § 5118(b and c). But this can be easily corrected.
Now, more and more people need to be educated and encouraged to use silver and gold coin as their common media of exchange in “silver-clause” and “gold-clause” contracts—not necessarily to the immediate exclusion of Federal Reserve Notes in all transactions, but in those areas and to the degree that the free market determines is best for society as a whole.
Advertisement
This is the most prudent, if not the only realistic, route for reform, because no viable plan exists for a direct, “top-down” replacement of Federal Reserve Notes and base-metallic coinage with a currency of silver and gold (or any other currency, for that matter). The free market sets daily prices for various silver and gold coins in Federal Reserve Notes. But as soon as silver and gold coins became common media of exchange, in direct competition with Federal Reserve Notes for that purpose, their values will increase, and the values of Federal Reserve Notes will decrease, to some unpredictable degrees. The only way to determine how those relative values should change is to allow the free market to change them, on a day-to-day and even hour-to-hour basis, without political interference of any kind. In particular—
Silver and gold coin must be re-established as currencies entirely separate from and independent of Federal Reserve Notes.
The free market must be allowed to set the prices of all goods and services in silver and gold, as well as in Federal Reserve Notes, simultaneously.
Common Americans must be allowed to choose and to use whichever currency they desire for specific transactions.
The Federal Reserve System must be entirely separated from the General Government.
Governments at the National, State, and Local levels must gradually phase out Federal Reserve Notes as their media of taxation and of payments to public creditors, and phase in silver and gold coin for those purposes.
The free market must establish the rates at which silver and gold coins exchange for Federal Reserve Notes (if anyone who holds silver and gold remains willing to trade them for any amounts of such notes).
New banks or other financial institutions dealing in silver and gold accounts, with their demand-deposits on a basis other than fractional reserves, should be created. And,
If the private banks in the Federal Reserve System can find a way to make Federal Reserve Notes honestly redeemable in silver, or gold, or both, at whatever rates are economically viable, they should be encouraged to do so.
In this way, an economically rational silver-and-gold price structure will quickly evolve, common people can disconnect their financial destinies from the Federal Reserve System in a gradual and ordered fashion, and separation of bank and state will finally be accomplished. Whether, as the result of this process, all, or some, or only a few of the banks in the Federal Reserve System can continue in business is for the free market to decide.
In principle, a program of competing currencies could be set in motion from the District of Columbia, if Congress and the White House were populated with patriots. Such is the scenario employed in CRA$HMAKER. Describing it in prose is easier than doing it in the halls of Congress, however. Even if Ron Paul were elected President in 2008, he could count on vanishingly few co-thinkers in Congress to help him push through such a reform. (Of course, candidate Paul should campaign on the ever-optimistic platform that he will propose and fight for such legislation if elected.)
For the foreseeable future, the better strategy is to promote competing currencies in each of the States.
First, it is perfectly constitutional for the States to use whatever constitutional currencies they desire for their own fiscal purposes, as the Supreme Court long ago recognized in Lane County v. Oregon, 74 U.S. (7 Wallace) 71 (1869). And the two currencies that the Constitution itself explicitly mandates for the States are silver and gold coin: “No State shall * * * make any Thing but gold and silver Coin a Tender in Payment of Debts.” Article I, § 10, cl. 1.
Second, a “bottom-up” approach can possibly work right now. Some State legislatures contain patriots who understand the problems the Federal Reserve System poses. And other State legislators will be compelled by their desperate and angry constituents to take appropriate remedial action as the monetary and banking systems go belly-up.
Third, an approach based on reform in individual States, one by one, is the most prudent alternative. Any attempt to create competition between silver and gold coin and Federal Reserve Notes as America’s media of exchange is an experiment. As such, it should be undertaken with circumspection, to minimize the risk. Working one State at a time has two distinct advantages: (i) It does not put all the eggs of monetary reconstruction into one basket. And (ii) it allows for refinement of the process, from State to State, as experience dictates.
If this is what needs to be done, who is capable of doing it? Ron Paul, and only Ron Paul. Ron Paul is the only candidate talking sense—or even talking at all—about this matter. He is the only candidate with credibility on this subject; for he alone has been warning for years, explicitly and consistently, about the structural weaknesses in the monetary and banking systems. The other candidates would not be even marginally believable if they started talking about the issue. They have never said anything before, which suggests that they know nothing about it, and probably care less. And they are part and parcel of the Establishment that created the problem, and intends to perpetuate it in some other form, which suggests that they would do nothing effective to correct it, but likely would exacerbate it. So the choice is as stark as it is simple: Ron Paul as President, or monetary and banking crises leading to a National police state. If this Presidential campaign is made to turn on monetary and banking reform, while the monetary and banking systems are self-destructing before Americans’ very eyes, only Ron Paul has a chance of winning. Only Ron Paul will deserve to win. And only if Ron Paul wins can America be saved.
That being so, candidate Paul should go through the States explaining the dangers in the monetary and banking systems, and promoting radical reform before it is too late. He should tell the voters what must be done, how it can be done, and why he is the only person who will do it—and then wait to hear what the Manchurian Candidates opposing him, in both of the “two” major political parties, will dare to say in response.
Continued at Source
Newswithviews.com
First, Congress is causing a standard silver coin (the “Liberty dollar”) and a set of gold coins (“American Eagles” of various denominations) to be minted in amounts sufficient to meet public demand. See 31 U.S.C. § 5112(e and i).This is not yet constitutional “free coinage”, but (as the saying goes) it is “close enough for government work” at the present time.
Second, these coins are as much legal media of exchange, current money, and “legal tender” as are Federal Reserve Notes and the Treasury’s base-metallic coins. See 31 U.S.C. §§ 5101, 5103, 5112(h).
Third, unlike Federal Reserve Notes and base-metallic coins, “Liberty” and “Eagle” coins are economically sound, and (leaving aside their present inaccurate denominations) basically constitutional, currencies. Certainly they are far better on both counts than Federal Reserve Notes and base-metallic coins.
Fourth, any common American may enter into a “gold-clause contract” (payable exclusively in gold), or a “silver-clause contract” (payable exclusively in silver) that will be enforceable in the courts. See 31 U.S.C. § 5118(d)(2). Indeed, the only party in the United States that appears to be barred by statute from making a “gold-clause contract” or a “silver-clause contract” that is payable in coin and enforceable in those terms is the General Government. See 31 U.S.C. § 5118(b and c). But this can be easily corrected.
Now, more and more people need to be educated and encouraged to use silver and gold coin as their common media of exchange in “silver-clause” and “gold-clause” contracts—not necessarily to the immediate exclusion of Federal Reserve Notes in all transactions, but in those areas and to the degree that the free market determines is best for society as a whole.
Advertisement
This is the most prudent, if not the only realistic, route for reform, because no viable plan exists for a direct, “top-down” replacement of Federal Reserve Notes and base-metallic coinage with a currency of silver and gold (or any other currency, for that matter). The free market sets daily prices for various silver and gold coins in Federal Reserve Notes. But as soon as silver and gold coins became common media of exchange, in direct competition with Federal Reserve Notes for that purpose, their values will increase, and the values of Federal Reserve Notes will decrease, to some unpredictable degrees. The only way to determine how those relative values should change is to allow the free market to change them, on a day-to-day and even hour-to-hour basis, without political interference of any kind. In particular—
Silver and gold coin must be re-established as currencies entirely separate from and independent of Federal Reserve Notes.
The free market must be allowed to set the prices of all goods and services in silver and gold, as well as in Federal Reserve Notes, simultaneously.
Common Americans must be allowed to choose and to use whichever currency they desire for specific transactions.
The Federal Reserve System must be entirely separated from the General Government.
Governments at the National, State, and Local levels must gradually phase out Federal Reserve Notes as their media of taxation and of payments to public creditors, and phase in silver and gold coin for those purposes.
The free market must establish the rates at which silver and gold coins exchange for Federal Reserve Notes (if anyone who holds silver and gold remains willing to trade them for any amounts of such notes).
New banks or other financial institutions dealing in silver and gold accounts, with their demand-deposits on a basis other than fractional reserves, should be created. And,
If the private banks in the Federal Reserve System can find a way to make Federal Reserve Notes honestly redeemable in silver, or gold, or both, at whatever rates are economically viable, they should be encouraged to do so.
In this way, an economically rational silver-and-gold price structure will quickly evolve, common people can disconnect their financial destinies from the Federal Reserve System in a gradual and ordered fashion, and separation of bank and state will finally be accomplished. Whether, as the result of this process, all, or some, or only a few of the banks in the Federal Reserve System can continue in business is for the free market to decide.
In principle, a program of competing currencies could be set in motion from the District of Columbia, if Congress and the White House were populated with patriots. Such is the scenario employed in CRA$HMAKER. Describing it in prose is easier than doing it in the halls of Congress, however. Even if Ron Paul were elected President in 2008, he could count on vanishingly few co-thinkers in Congress to help him push through such a reform. (Of course, candidate Paul should campaign on the ever-optimistic platform that he will propose and fight for such legislation if elected.)
For the foreseeable future, the better strategy is to promote competing currencies in each of the States.
First, it is perfectly constitutional for the States to use whatever constitutional currencies they desire for their own fiscal purposes, as the Supreme Court long ago recognized in Lane County v. Oregon, 74 U.S. (7 Wallace) 71 (1869). And the two currencies that the Constitution itself explicitly mandates for the States are silver and gold coin: “No State shall * * * make any Thing but gold and silver Coin a Tender in Payment of Debts.” Article I, § 10, cl. 1.
Second, a “bottom-up” approach can possibly work right now. Some State legislatures contain patriots who understand the problems the Federal Reserve System poses. And other State legislators will be compelled by their desperate and angry constituents to take appropriate remedial action as the monetary and banking systems go belly-up.
Third, an approach based on reform in individual States, one by one, is the most prudent alternative. Any attempt to create competition between silver and gold coin and Federal Reserve Notes as America’s media of exchange is an experiment. As such, it should be undertaken with circumspection, to minimize the risk. Working one State at a time has two distinct advantages: (i) It does not put all the eggs of monetary reconstruction into one basket. And (ii) it allows for refinement of the process, from State to State, as experience dictates.
If this is what needs to be done, who is capable of doing it? Ron Paul, and only Ron Paul. Ron Paul is the only candidate talking sense—or even talking at all—about this matter. He is the only candidate with credibility on this subject; for he alone has been warning for years, explicitly and consistently, about the structural weaknesses in the monetary and banking systems. The other candidates would not be even marginally believable if they started talking about the issue. They have never said anything before, which suggests that they know nothing about it, and probably care less. And they are part and parcel of the Establishment that created the problem, and intends to perpetuate it in some other form, which suggests that they would do nothing effective to correct it, but likely would exacerbate it. So the choice is as stark as it is simple: Ron Paul as President, or monetary and banking crises leading to a National police state. If this Presidential campaign is made to turn on monetary and banking reform, while the monetary and banking systems are self-destructing before Americans’ very eyes, only Ron Paul has a chance of winning. Only Ron Paul will deserve to win. And only if Ron Paul wins can America be saved.
That being so, candidate Paul should go through the States explaining the dangers in the monetary and banking systems, and promoting radical reform before it is too late. He should tell the voters what must be done, how it can be done, and why he is the only person who will do it—and then wait to hear what the Manchurian Candidates opposing him, in both of the “two” major political parties, will dare to say in response.
Continued at Source
Ron Paul and Currency Competition Part 1
Here we have Dr. Edwin Vieira, the writer of the New Hampshire Gold currency bill.
Dr. Edwin Vieira, Jr., Ph.D., J.D.
November 26, 2007
NewsWithViews.com
As America’s inherently self-destructive monetary and banking systems lurch from crisis to crisis—and one foreign country after another announces its intention to reduce its reliance on Federal Reserve Notes as a “reserve” currency, and perhaps soon as any currency at all—I am tempted to say, “I told you so!”
Because I did. I told everyone so in my book Pieces of Eight in 1983, and then again, at quite a bit more length, in the second edition of that book in 2002. In a lighter style, in collaboration with my friend, Victor “Trader Vic” Sperandeo, I conveyed the same message in the novel CRA$HMAKER: A Federal Affaire in 2000. Nonetheless, I do not wish to claim too much credit for this prescience, or just a good guess based on hindsight gleaned from American legal history—nor do I offer it as the basis for a “Genius Grant” from the MacArthur Foundation. After all, the sorry lessons that fiat currency and fractional-reserve banking teach should be obvious to anyone with an IQ higher than his age. Moreover, I am but one of many voices that have warned of the inevitability of these problems.
Now, inevitability has become imminence. The vultures hatched from the arrogance, avarice, ambition, and appetite for abusive powers that have characterized this country’s economic and political “leadership” for at least the last one hundred years are circling above us, anticipating their feast upon our famine. In the menacing shadows cast by their wings, the self-styled “best and brightest” among America’s present gaggle of “leaders” are being exposed as perhaps the worst and stupidest ruling class ever known—a true kakistocracy. For only the worst and stupidest “leaders” of all time could have come to the point of destroying a country so exceedingly rich in human talents and natural resources.
Although this exposure is welcome, if somewhat tardy, it is not enough. That the kakistocracy has made a first-class mess of things is obvious. That it cannot be relied upon any longer for “leadership” is even more obvious. That it must be separated from political power is the most pressing imperative of this day. But exactly what must be done to correct this situation? And who can do it?
America needs to take action to replace the Federal Reserve System and its rotting paper currency before the System’s house of cards finally collapses on her head. Because, when the roof does fall in, a plethora of other very nasty events will follow very soon thereafter. Therefore, before means now.
Even the Establishment realizes as much, which explains its feverish construction of a National police state under the guise of providing for “homeland security”, and its demonization of patriotic dissenters in tirades of hateful defamation that make Joseph Goebbels appear as a paragon of moderation, fairness, and accuracy by comparison. The Establishment knows that its gangrenous monetary and banking regimes cannot be saved, and must be replaced in the near future. And the Establishment doubtlessly has a plan and a schedule for using the collapse of the Federal Reserve System, and the economic chaos it will engender, as the excuse for introducing a new currency—the Amero—as a conveyor belt to move America into the supra-national North American Union.
Events, however, are not proceeding according to the Establishment’s timetable. The mills of the gods do grind slowly; but they have been grinding steadily for a long time, and their work is coming to an end. Countervailing forces are already at work, undermining the Establishment’s position. The present scheme of fiat currency and fractional-reserve central banking constitutes a confidence game in both senses of those words. But if a confidence-man can fool some of the people all of the time, and all of the people some of the time, he cannot fool enough of the people for enough of the time once some critical mass finally wises up. And, as cluttered with noise and disinformation as it is, the Internet is providing the forum through which to assemble that critical mass.
So what is to be done? The solution to the problems the Federal Reserve System poses is to set up a system of competing currencies: Federal Reserve Notes and base-metallic Treasury coinage on one side, silver and gold coin on the other. Actually, America already has all the necessary elements to put such a system into operation:
Silver is your means of preserving your wealth. Monex is the low-cost Silver retailer. Jump on the 500% rise in Silver over the next two years. 800-949-4653 x2172
use Kevin from Goldmoneybill as referral to help support this site.
Dr. Edwin Vieira, Jr., Ph.D., J.D.
November 26, 2007
NewsWithViews.com
As America’s inherently self-destructive monetary and banking systems lurch from crisis to crisis—and one foreign country after another announces its intention to reduce its reliance on Federal Reserve Notes as a “reserve” currency, and perhaps soon as any currency at all—I am tempted to say, “I told you so!”
Because I did. I told everyone so in my book Pieces of Eight in 1983, and then again, at quite a bit more length, in the second edition of that book in 2002. In a lighter style, in collaboration with my friend, Victor “Trader Vic” Sperandeo, I conveyed the same message in the novel CRA$HMAKER: A Federal Affaire in 2000. Nonetheless, I do not wish to claim too much credit for this prescience, or just a good guess based on hindsight gleaned from American legal history—nor do I offer it as the basis for a “Genius Grant” from the MacArthur Foundation. After all, the sorry lessons that fiat currency and fractional-reserve banking teach should be obvious to anyone with an IQ higher than his age. Moreover, I am but one of many voices that have warned of the inevitability of these problems.
Now, inevitability has become imminence. The vultures hatched from the arrogance, avarice, ambition, and appetite for abusive powers that have characterized this country’s economic and political “leadership” for at least the last one hundred years are circling above us, anticipating their feast upon our famine. In the menacing shadows cast by their wings, the self-styled “best and brightest” among America’s present gaggle of “leaders” are being exposed as perhaps the worst and stupidest ruling class ever known—a true kakistocracy. For only the worst and stupidest “leaders” of all time could have come to the point of destroying a country so exceedingly rich in human talents and natural resources.
Although this exposure is welcome, if somewhat tardy, it is not enough. That the kakistocracy has made a first-class mess of things is obvious. That it cannot be relied upon any longer for “leadership” is even more obvious. That it must be separated from political power is the most pressing imperative of this day. But exactly what must be done to correct this situation? And who can do it?
America needs to take action to replace the Federal Reserve System and its rotting paper currency before the System’s house of cards finally collapses on her head. Because, when the roof does fall in, a plethora of other very nasty events will follow very soon thereafter. Therefore, before means now.
Even the Establishment realizes as much, which explains its feverish construction of a National police state under the guise of providing for “homeland security”, and its demonization of patriotic dissenters in tirades of hateful defamation that make Joseph Goebbels appear as a paragon of moderation, fairness, and accuracy by comparison. The Establishment knows that its gangrenous monetary and banking regimes cannot be saved, and must be replaced in the near future. And the Establishment doubtlessly has a plan and a schedule for using the collapse of the Federal Reserve System, and the economic chaos it will engender, as the excuse for introducing a new currency—the Amero—as a conveyor belt to move America into the supra-national North American Union.
Events, however, are not proceeding according to the Establishment’s timetable. The mills of the gods do grind slowly; but they have been grinding steadily for a long time, and their work is coming to an end. Countervailing forces are already at work, undermining the Establishment’s position. The present scheme of fiat currency and fractional-reserve central banking constitutes a confidence game in both senses of those words. But if a confidence-man can fool some of the people all of the time, and all of the people some of the time, he cannot fool enough of the people for enough of the time once some critical mass finally wises up. And, as cluttered with noise and disinformation as it is, the Internet is providing the forum through which to assemble that critical mass.
So what is to be done? The solution to the problems the Federal Reserve System poses is to set up a system of competing currencies: Federal Reserve Notes and base-metallic Treasury coinage on one side, silver and gold coin on the other. Actually, America already has all the necessary elements to put such a system into operation:
Silver is your means of preserving your wealth. Monex is the low-cost Silver retailer. Jump on the 500% rise in Silver over the next two years. 800-949-4653 x2172
use Kevin from Goldmoneybill as referral to help support this site.
Tuesday, April 7, 2009
75 Local Barter Currencies Cropping up Nationwide
This is not exactly a real solution, exchanging Fed dollars for local fiat currency dollars, I don't really know what the point is, but the idea is sound to get people used to the idea that there are other mediums of exchange besides Federal Reserve notes. At one point, we used to have several different types of currency with one common denominator, they were all back by either gold or silver. The concept of coin clipping was the first attempt to de-base the currency. We have gone way beyond that with a complete devaulation of the economic system of the world at large.
USA Today's reporting on local currencies gives the impression that this is a NEW phenomenon born from the recession. Rather, many of these programs have existed for some time.
The organization that runs BerkShares, told Huffington Post that it has been producing currency since 2006, well before the financial crisis dominated headlines. Ithaca Hours have been in production since 1991. Despite the fact that these currencies have existed - a point USA Today should update - there is a growing interest in currency production for communities hit by the recession. New currencies, like the Detroit Cheers are coming into play.
A small but growing number of cash-strapped communities are printing their own money.Borrowing from a Depression-era idea, they are aiming to help consumers make ends meet and support struggling local businesses.
Cont'at Source
Saturday, March 21, 2009
U.S. Mint Suspends Sale of Gold and Silver Eagles
Get ready for the explosion of Gold and Silver prices this summer. The U.S. mint can no longer keep up with the demand for the physical Gold and Silver. 90% of Gold and Silver is traded in the form of EFT paper transactions. With the growing depression, they demand for the actual metal has skyrocketed. Now, the Gold and Silver stocks are diminishing as people begin to hoard with the acceleration collapse of the dollar and other fiat currencies worldwide. Citibank is cashing in government bailout theft dollars with Gold.
The United States Mint has officially announced the suspension of another slate of gold and silver products. The affected products are 2009 dated American Gold and Silver Eagle coins produced for collectors. These coins are considered collectible versions of the bullion coins.
Although these are collectible coins, they represent a sizable amount of precious metals sales and represent a method of gold and silver investment for many individuals. Last year, the US Mint sold 1,157,911 ounces of silver in the form of Silver Eagle coins minted for collectors. They also sold 155,740 ounces of gold in the form of Gold Eagle and Gold Buffalo coins minted for collectors.
The following message was posted on the US Mint's website in the space where the collectible Gold Eagle coins typically appear. The proof coins has been offered uninterrupted since 1986. The uncirculated version has been offered since 2006.
Production of United States Mint American Eagle Gold Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Gold Bullion Coins. Currently, all available 22-karat gold blanks are being allocated to the American Eagle Gold Bullion Coin Program, as the United States Mint is required by Public Law 99-185 to produce these coins “in quantities sufficient to meet public demand . . . .”
The United States Mint will resume the American Eagle Gold Proof and Uncirculated Coin Programs once sufficient inventories of gold bullion blanks can be acquired to meet market demand for all three American Eagle Gold Coin products. Additionally, as a result of the recent numismatic product portfolio analysis, fractional sizes of American Eagle Gold Uncirculated Coins will no longer be produced.
A similar message is posted in the section where collectible American Silver Eagle coins would typically appear. The proof coins have also been offered uninterrupted since 1986 and the uncirculated coins since 2006.
Production of United States Mint American Eagle Silver Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Currently, all available silver bullion blanks are being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins “in quantities sufficient to meet public demand . . . .”
The United States Mint will resume the American Eagle Silver Proof and Uncirculated Coin Programs once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.
This adds to the lengthy list of 2009 dated precious metals products that have been "temporarily delayed" or suspended by the US Mint. In my previous post Actions of the US Mint Discourage Gold Ownership, I mentioned the delayed release of 2009 Gold Eagle fractional coins, 2009 Gold Buffalo coins, and all 2009 Platinum Eagle coins. The delay, which was first announced in November 2008, continues with no further explanation provided.
For those keeping track, here is a list of the US Mint's 2009 precious metals products that have been "temporarily delayed" or suspended:
* 2009 American Gold Eagle 1/2 oz. (bullion)
* 2009 American Gold Eagle 1/4 oz. (bullion)
* 2009 American Gold Eagle 1/10 oz. (bullion)
* 2009 American Platinum Eagle 1 oz. (bullion)
* 2009 American Platinum Eagle 1/2 oz. (bullion)
* 2009 American Platinum Eagle 1/4 oz. (bullion)
* 2009 American Platinum Eagle 1/10 oz. (bullion)
* 2009 American Gold Buffalo 1 oz. (bullion)
* 2009-W Proof American Gold Eagle 1 oz. (collector)
* 2009-W Proof American Gold Eagle 1/2 oz. (collector)
* 2009-W Proof American Gold Eagle 1/4 oz. (collector)
* 2009-W Proof American Gold Eagle 1/10 oz. (collector)
* 2009-W Proof American Gold Eagle 4 Coin Set (collector)
* 2009-W Uncirculated American Gold Eagle 1 oz. (collector)
* 2009-W Proof American Silver Eagle (collector)
* 2009-W Uncirculated American Silver Eagle (collector)
In addition, the following precious metals related products were discontinued by the US Mint for 2009. These discontinuations were announced in November 2008. Amidst the environment of unprecedented demand for precious metals, the US Mint determined that these products were "unpopular."
* Uncirculated American Gold Eagle 1/2 oz. (collector)
* Uncirculated American Gold Eagle 1/4 oz. (collector)
* Uncirculated American Gold Eagle 1/10 oz. (collector)
* Unriculated American Gold Eagle 4 Coin Set (collector)
* Uncirculated American Gold Buffalo 1 oz. (collector)
* Uncirculated American Gold Buffalo 1/2 oz. (collector)
* Uncirculated American Gold Buffalo 1/4 oz. (collector)
* Uncirculated American Gold Buffalo 1/10 oz. (collector)
* Unriculated American Gold Buffalo 4 Coin Set (collector)
* Proof American Gold Buffalo 1/2 oz. (collector)
* Proof American Gold Buffalo 1/4 oz. (collector)
* Proof American Gold Buffalo 1/10 oz. (collector)
* Proof American Gold Buffalo 4 Coin Set (collector)
* Uncircualted American Platinum Eagle 1 oz. (collector)
* Uncircualted American Platinum Eagle 1/2 oz. (collector)
* Uncircualted American Platinum Eagle 1/4 oz. (collector)
* Uncircualted American Platinum Eagle 1/10 oz. (collector)
* Uncircualted American Platinum Eagle 4 Coin Set (collector)
* Proof American Platinum Eagle 1/2 oz. (collector)
* Proof American Platinum Eagle 1/4 oz. (collector)
* Proof American Platinum Eagle 1/10 oz. (collector)
* Proof American Platinum Eagle 4 Coin Set (collector)
That makes a total of 38 precious metals products which have been delayed, suspended, or discontinued by the US Mint.
As it currently stands, investors or collectors looking to purchase newly minted American Eagle or American Buffalo precious metals products have only two options available. These are the 2009 1 oz. American Gold Eagle and the 2009 1 oz. American Silver Eagle. Both of these products continue to be subject to rationing.
Source
The United States Mint has officially announced the suspension of another slate of gold and silver products. The affected products are 2009 dated American Gold and Silver Eagle coins produced for collectors. These coins are considered collectible versions of the bullion coins.
Although these are collectible coins, they represent a sizable amount of precious metals sales and represent a method of gold and silver investment for many individuals. Last year, the US Mint sold 1,157,911 ounces of silver in the form of Silver Eagle coins minted for collectors. They also sold 155,740 ounces of gold in the form of Gold Eagle and Gold Buffalo coins minted for collectors.
The following message was posted on the US Mint's website in the space where the collectible Gold Eagle coins typically appear. The proof coins has been offered uninterrupted since 1986. The uncirculated version has been offered since 2006.
Production of United States Mint American Eagle Gold Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Gold Bullion Coins. Currently, all available 22-karat gold blanks are being allocated to the American Eagle Gold Bullion Coin Program, as the United States Mint is required by Public Law 99-185 to produce these coins “in quantities sufficient to meet public demand . . . .”
The United States Mint will resume the American Eagle Gold Proof and Uncirculated Coin Programs once sufficient inventories of gold bullion blanks can be acquired to meet market demand for all three American Eagle Gold Coin products. Additionally, as a result of the recent numismatic product portfolio analysis, fractional sizes of American Eagle Gold Uncirculated Coins will no longer be produced.
A similar message is posted in the section where collectible American Silver Eagle coins would typically appear. The proof coins have also been offered uninterrupted since 1986 and the uncirculated coins since 2006.
Production of United States Mint American Eagle Silver Proof and Uncirculated Coins has been temporarily suspended because of unprecedented demand for American Eagle Silver Bullion Coins. Currently, all available silver bullion blanks are being allocated to the American Eagle Silver Bullion Coin Program, as the United States Mint is required by Public Law 99-61 to produce these coins “in quantities sufficient to meet public demand . . . .”
The United States Mint will resume the American Eagle Silver Proof and Uncirculated Coin Programs once sufficient inventories of silver bullion blanks can be acquired to meet market demand for all three American Eagle Silver Coin products.
This adds to the lengthy list of 2009 dated precious metals products that have been "temporarily delayed" or suspended by the US Mint. In my previous post Actions of the US Mint Discourage Gold Ownership, I mentioned the delayed release of 2009 Gold Eagle fractional coins, 2009 Gold Buffalo coins, and all 2009 Platinum Eagle coins. The delay, which was first announced in November 2008, continues with no further explanation provided.
For those keeping track, here is a list of the US Mint's 2009 precious metals products that have been "temporarily delayed" or suspended:
* 2009 American Gold Eagle 1/2 oz. (bullion)
* 2009 American Gold Eagle 1/4 oz. (bullion)
* 2009 American Gold Eagle 1/10 oz. (bullion)
* 2009 American Platinum Eagle 1 oz. (bullion)
* 2009 American Platinum Eagle 1/2 oz. (bullion)
* 2009 American Platinum Eagle 1/4 oz. (bullion)
* 2009 American Platinum Eagle 1/10 oz. (bullion)
* 2009 American Gold Buffalo 1 oz. (bullion)
* 2009-W Proof American Gold Eagle 1 oz. (collector)
* 2009-W Proof American Gold Eagle 1/2 oz. (collector)
* 2009-W Proof American Gold Eagle 1/4 oz. (collector)
* 2009-W Proof American Gold Eagle 1/10 oz. (collector)
* 2009-W Proof American Gold Eagle 4 Coin Set (collector)
* 2009-W Uncirculated American Gold Eagle 1 oz. (collector)
* 2009-W Proof American Silver Eagle (collector)
* 2009-W Uncirculated American Silver Eagle (collector)
In addition, the following precious metals related products were discontinued by the US Mint for 2009. These discontinuations were announced in November 2008. Amidst the environment of unprecedented demand for precious metals, the US Mint determined that these products were "unpopular."
* Uncirculated American Gold Eagle 1/2 oz. (collector)
* Uncirculated American Gold Eagle 1/4 oz. (collector)
* Uncirculated American Gold Eagle 1/10 oz. (collector)
* Unriculated American Gold Eagle 4 Coin Set (collector)
* Uncirculated American Gold Buffalo 1 oz. (collector)
* Uncirculated American Gold Buffalo 1/2 oz. (collector)
* Uncirculated American Gold Buffalo 1/4 oz. (collector)
* Uncirculated American Gold Buffalo 1/10 oz. (collector)
* Unriculated American Gold Buffalo 4 Coin Set (collector)
* Proof American Gold Buffalo 1/2 oz. (collector)
* Proof American Gold Buffalo 1/4 oz. (collector)
* Proof American Gold Buffalo 1/10 oz. (collector)
* Proof American Gold Buffalo 4 Coin Set (collector)
* Uncircualted American Platinum Eagle 1 oz. (collector)
* Uncircualted American Platinum Eagle 1/2 oz. (collector)
* Uncircualted American Platinum Eagle 1/4 oz. (collector)
* Uncircualted American Platinum Eagle 1/10 oz. (collector)
* Uncircualted American Platinum Eagle 4 Coin Set (collector)
* Proof American Platinum Eagle 1/2 oz. (collector)
* Proof American Platinum Eagle 1/4 oz. (collector)
* Proof American Platinum Eagle 1/10 oz. (collector)
* Proof American Platinum Eagle 4 Coin Set (collector)
That makes a total of 38 precious metals products which have been delayed, suspended, or discontinued by the US Mint.
As it currently stands, investors or collectors looking to purchase newly minted American Eagle or American Buffalo precious metals products have only two options available. These are the 2009 1 oz. American Gold Eagle and the 2009 1 oz. American Silver Eagle. Both of these products continue to be subject to rationing.
Source
Sunday, March 8, 2009
Gold and the Coming Panic
A couple of bright friends reported to me some overriding themes at the PDAC gathering in Toronto last weekend. Apparently, some surprise came to them. They mentioned that more than a few analysts, writers, and speakers still do not get it. They actually believe the situation with the USEconomy and US banking system has begun to stabilize. That is like saying a college basketball player has Michael Jordan under control, or a farmer has his Clydesdale horse under control, or a misguided King can call back the ocean tide, or a man has a hurricane under control as he clings to a roof rafter. The USEconomy has entered an accelerated phase of disintegration, while the populace has entered a new panic phase. The US stock market is under the microscope, and it just broke a key multi-year critical support level. This article is intended to be constructive, with a list of perceived meters and conditions, followed by a four-step foundation for a recovery. When finished reading the four planks, one should easily conclude that no solution, let alone attempt, is on the correct path or is in the works.
Therefore the plan for individuals, who have been betrayed on a colossal scale, must defend themselves by exiting all assets and hunkering into cash. The betrayal lies at the feet of bankers, politicians, military brass, and corporate chiefs. By the way, cash is prescribed in that perfectly crafted document called the US Constitution. Gold & silver are the only forms of money that can legally satisfy debts public and private. That near perfect document has also been betrayed, with even the last president calling it a 'mere piece of paper' incredibly. The financial problems of the nation took deep root with the Vietnam War and the subsequent abrogation of the Bretton Woods Accord that had forged the US$-Gold linkage. The analysts, pundits, bankers, and politicos seem to have totally lost sight of this basic fact. Their deep error, along with profound corruption, will be centerpieces in the next chapters written in history. My rational and considered belief is that gold, as well as crude oil, will be anchors to the next global reserve currencies. What better route to stabilize both financial and commercial price systems? Those who believe that the USDollar will prevail and survive this turmoil as the global reserve currency are precisely as incorrect as those who believed the US banking system could survive the mortgage debacle as it unfolded. We are witnessing a long slow drawn-out death experience for the USDollar, liquidation of the USEconomy, to be followed by a default by the USTreasury Bonds. During the panic phase, the response in the gold & silver prices will be profound, with advances to date only a prelude to a march to $2000 gold and $50 silver.
CRESCENDO AFTER ETHICS ORIGINAL SIN
The topic of fraud has clearly been in the news often in the last two years. The mortgage fraud was for a while covered up by its framing as a subprime problem, but no longer. The counterfeit of Fannie Mae mortgage bonds, estimated at well over $1 trillion, has been essentially kicked under the rug on USGovt hallways following its nationalization. The insider trading by Goldman Sachs is an example of outstanding and impressive executions, perpetrated with complete impunity. The maze of unscrupulous, devious, and insidious fraudulent business units of JPMorgan is worthy of a 500-page chapter in the US financial history treatise, someday to be written. See the complete distortion of usury costs (interest rates kept low) by JPM, with such a volume of Interest Rate Swaps that was sufficient to run the Bond Vigilantes out of town. Skewed cost of money is the foundation for speculative bubbles. See the management of USTreasury Bonds by JPM on behalf of the Federal Reserve, along with the $2.2 trillion that they sold above and beyond the officially stated USGovt issuance of USTreasury Bonds. That is called counterfeit evidence, the records for which were lost in the third building at the World Trade Center. See the management by JPM of the Bank of Baghdad. Twice as much money is missing from the Iraq Reconstruction Fund than was stolen by Bernie Madoff, up to $100 billion being estimated. And never overlook the financial tentacles that extend from Afghan operations on the contraband side, to the Bank of Baghdad as the clearinghouse.
The quiet climaxes of fraud are seen with the Madoff Ponzi Scheme and other minor cases. If you think that authorities are still looking for where Madoff hid the stolen money, then you must believe that the Wall Street mission is to assist in the capitalization process for US industry. The majority of the Madoff funds are safely placed in the same location as much of the Wall Street ill-gotten gains. My sources report that location to be banks within the tiny ally coastal nation north of Egypt and south of Syria, which with the urging of the last Administration, removed all extradition laws in recent years. Trace back to find the original sin of the ethics violations, and you should find your feet squarely at the abrogation of the Bretton Woods Accord that cut the linkage between the USDollar and gold. This is an ethics violation climax of historical proportions......
RETAIL IS THE BAROMETER
Over 80 thousand retail stores closed in 2008. The forecast from expert corners is for another 120 thousand retail shutdowns in 2009. Numerous retail chains have gone out of business, with the list expected to more than double in 2009 and 2010. Recall retail consumption had been the boasted foundation of the USEconomy, the engine of growth to the global economy, by inept clueless hack economists for at least a decade. The national guidance from the economic counsel staffs continues to utter heresy that spending is healthy, when sound economic reason dictates that investment in productive enterprise is the key to any solution. This blight is very difficult to hide from the American public, as they pass the partially and completely shutdown malls, mini-malls, and small office strip malls during their daily lives. The feedback loops are indeed vicious, as reduced spending means job cuts, even though they are low-paid jobs. Bear in mind that the construction and operation of retail shopping malls does not constitute investment in an economy toward its productive capacity, but rather creation of a pathway to liquidate and spend home equity on the path to foreclosure and bankruptcy. In my view, retail serves as a barometer on what to expect in the near term future. The crisis collapse in the car industry echoes loudly the retail woes, as annual sales decline range from 40% to 50% per brand. The response in the gold & silver prices to the blight in shopping malls, retail crash, and car collapse will be profound, with advances to date only a prelude to a march to $2000 gold and $50 silver.
FORECLOSURES ARE THE LEADING INDICATOR
In 4Q2008, the rate of foreclosures rose by 53%. No stability whatsoever is evident. The only good news is that the rate of FC is no longer 100% on an annual basis. So a deceleration is in progress. Maybe in one year's time, the FC annual growth rate will only be 30% to 35%, with some luck. The Mortgage Bankers Assn reported today that the mortgage delinquency rate rose by two percentage points to 7.88% by year end 2008, and the foreclosure rate rose to 3.3% also. The total in DQ or FC rose from 10.1% in 3Q2008 to 11.2% in 4Q2008. So one home loan in nine is late or dead. Also, an estimated 20% of American homes are in negative equity situations, with loan balances in excess of their home values. As the delinquencies convert to foreclosures, the bloated home inventory for sale will remain at elevated levels. In fact, they are grossly under-stated, since banks are rotating foreclosed properties on their books in order to avoid a further flood on the bloated condition. REO properties by banks are a hot topic.
To be sure, a few dozen or a few hundred or perhaps even a thousand home loans might receive actual aid by the USGovt. The number of home loans to receive some form of official aid is proposed to benefit one in nine, coincidentally. Time will tell to what extent any new legislation on so-called 'cramdowns' takes root. Bankruptcy judges might soon have the power to dictate to a bank that it reduce home loan balances, seeking a level of affordability relative to proved income. The home loan aid process is incredibly slow, while the pace of economic decline is accelerating. Be sure to know that households in foreclosure, or in delinquency, or even in chronic insolvency from an under-water home loan do not spend money, and generally cut back on expenses, even enter a bunker mentality under siege. The response in the gold & silver prices to the household insolvency and foreclosure process will be profound, with advances to date only a prelude to a march to $2000 gold and $50 silver. Long Article cont' Here
Silver is your means of preserving your wealth. Monex is the low-cost Silver retailer. Jump on the 500% rise in Silver over the next two years. 800-949-4653 x2172
use Kevin from Goldmoneybill as referral to help support this site.
Therefore the plan for individuals, who have been betrayed on a colossal scale, must defend themselves by exiting all assets and hunkering into cash. The betrayal lies at the feet of bankers, politicians, military brass, and corporate chiefs. By the way, cash is prescribed in that perfectly crafted document called the US Constitution. Gold & silver are the only forms of money that can legally satisfy debts public and private. That near perfect document has also been betrayed, with even the last president calling it a 'mere piece of paper' incredibly. The financial problems of the nation took deep root with the Vietnam War and the subsequent abrogation of the Bretton Woods Accord that had forged the US$-Gold linkage. The analysts, pundits, bankers, and politicos seem to have totally lost sight of this basic fact. Their deep error, along with profound corruption, will be centerpieces in the next chapters written in history. My rational and considered belief is that gold, as well as crude oil, will be anchors to the next global reserve currencies. What better route to stabilize both financial and commercial price systems? Those who believe that the USDollar will prevail and survive this turmoil as the global reserve currency are precisely as incorrect as those who believed the US banking system could survive the mortgage debacle as it unfolded. We are witnessing a long slow drawn-out death experience for the USDollar, liquidation of the USEconomy, to be followed by a default by the USTreasury Bonds. During the panic phase, the response in the gold & silver prices will be profound, with advances to date only a prelude to a march to $2000 gold and $50 silver.
CRESCENDO AFTER ETHICS ORIGINAL SIN
The topic of fraud has clearly been in the news often in the last two years. The mortgage fraud was for a while covered up by its framing as a subprime problem, but no longer. The counterfeit of Fannie Mae mortgage bonds, estimated at well over $1 trillion, has been essentially kicked under the rug on USGovt hallways following its nationalization. The insider trading by Goldman Sachs is an example of outstanding and impressive executions, perpetrated with complete impunity. The maze of unscrupulous, devious, and insidious fraudulent business units of JPMorgan is worthy of a 500-page chapter in the US financial history treatise, someday to be written. See the complete distortion of usury costs (interest rates kept low) by JPM, with such a volume of Interest Rate Swaps that was sufficient to run the Bond Vigilantes out of town. Skewed cost of money is the foundation for speculative bubbles. See the management of USTreasury Bonds by JPM on behalf of the Federal Reserve, along with the $2.2 trillion that they sold above and beyond the officially stated USGovt issuance of USTreasury Bonds. That is called counterfeit evidence, the records for which were lost in the third building at the World Trade Center. See the management by JPM of the Bank of Baghdad. Twice as much money is missing from the Iraq Reconstruction Fund than was stolen by Bernie Madoff, up to $100 billion being estimated. And never overlook the financial tentacles that extend from Afghan operations on the contraband side, to the Bank of Baghdad as the clearinghouse.
The quiet climaxes of fraud are seen with the Madoff Ponzi Scheme and other minor cases. If you think that authorities are still looking for where Madoff hid the stolen money, then you must believe that the Wall Street mission is to assist in the capitalization process for US industry. The majority of the Madoff funds are safely placed in the same location as much of the Wall Street ill-gotten gains. My sources report that location to be banks within the tiny ally coastal nation north of Egypt and south of Syria, which with the urging of the last Administration, removed all extradition laws in recent years. Trace back to find the original sin of the ethics violations, and you should find your feet squarely at the abrogation of the Bretton Woods Accord that cut the linkage between the USDollar and gold. This is an ethics violation climax of historical proportions......
RETAIL IS THE BAROMETER
Over 80 thousand retail stores closed in 2008. The forecast from expert corners is for another 120 thousand retail shutdowns in 2009. Numerous retail chains have gone out of business, with the list expected to more than double in 2009 and 2010. Recall retail consumption had been the boasted foundation of the USEconomy, the engine of growth to the global economy, by inept clueless hack economists for at least a decade. The national guidance from the economic counsel staffs continues to utter heresy that spending is healthy, when sound economic reason dictates that investment in productive enterprise is the key to any solution. This blight is very difficult to hide from the American public, as they pass the partially and completely shutdown malls, mini-malls, and small office strip malls during their daily lives. The feedback loops are indeed vicious, as reduced spending means job cuts, even though they are low-paid jobs. Bear in mind that the construction and operation of retail shopping malls does not constitute investment in an economy toward its productive capacity, but rather creation of a pathway to liquidate and spend home equity on the path to foreclosure and bankruptcy. In my view, retail serves as a barometer on what to expect in the near term future. The crisis collapse in the car industry echoes loudly the retail woes, as annual sales decline range from 40% to 50% per brand. The response in the gold & silver prices to the blight in shopping malls, retail crash, and car collapse will be profound, with advances to date only a prelude to a march to $2000 gold and $50 silver.
FORECLOSURES ARE THE LEADING INDICATOR
In 4Q2008, the rate of foreclosures rose by 53%. No stability whatsoever is evident. The only good news is that the rate of FC is no longer 100% on an annual basis. So a deceleration is in progress. Maybe in one year's time, the FC annual growth rate will only be 30% to 35%, with some luck. The Mortgage Bankers Assn reported today that the mortgage delinquency rate rose by two percentage points to 7.88% by year end 2008, and the foreclosure rate rose to 3.3% also. The total in DQ or FC rose from 10.1% in 3Q2008 to 11.2% in 4Q2008. So one home loan in nine is late or dead. Also, an estimated 20% of American homes are in negative equity situations, with loan balances in excess of their home values. As the delinquencies convert to foreclosures, the bloated home inventory for sale will remain at elevated levels. In fact, they are grossly under-stated, since banks are rotating foreclosed properties on their books in order to avoid a further flood on the bloated condition. REO properties by banks are a hot topic.
To be sure, a few dozen or a few hundred or perhaps even a thousand home loans might receive actual aid by the USGovt. The number of home loans to receive some form of official aid is proposed to benefit one in nine, coincidentally. Time will tell to what extent any new legislation on so-called 'cramdowns' takes root. Bankruptcy judges might soon have the power to dictate to a bank that it reduce home loan balances, seeking a level of affordability relative to proved income. The home loan aid process is incredibly slow, while the pace of economic decline is accelerating. Be sure to know that households in foreclosure, or in delinquency, or even in chronic insolvency from an under-water home loan do not spend money, and generally cut back on expenses, even enter a bunker mentality under siege. The response in the gold & silver prices to the household insolvency and foreclosure process will be profound, with advances to date only a prelude to a march to $2000 gold and $50 silver. Long Article cont' Here
Silver is your means of preserving your wealth. Monex is the low-cost Silver retailer. Jump on the 500% rise in Silver over the next two years. 800-949-4653 x2172
use Kevin from Goldmoneybill as referral to help support this site.
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