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One good thing that came about due to the recent failed Reddit/Robinhood silver squeeze is that the manager of the etf SLV (who else but JP Morgan!) where forced to file a new legal disclaimer saying that in the future the price of SLV may “not” track the price of silver.
The whole purpose of SLV is to track the price of silver! The only reason SLV may not track the price of silver is because SLV may not have the silver backing it, that it says it does! That is the only reason why the manager of SLV put out the new legal disclaimer! This nicely gets the manager, JP Morgan, off the hook if SLV fails!
My personal opinion is that SLV was set up to manipulate the price of silver from the get go! It is the perfect scram. When interest in silver rises, money pours into the paper SLV, nicely diverted away from buying actual physical silver. The manager then uses the money in the SLV as a slush fund to suppress the price of paper silver. The more money that enters SLV, the more firepower JP Morgan has to suppress the price of silver!
My own long term observation of SLV is that silver prices don’t rise despite the tens of millions of ounces of silver supposedly bought daily by SLV. The amounts of silver claimed to have been purchased daily by SLV simply staggers the imagination! It just isn’t possible to find that much real silver to buy in mere hours! The only way to buy that much silver is to create paper silver!
For example the US mint cannot make more than a few million eagles a month because they can’t get their hands on more silver! Try buying just one silver eagle today! You are as good as dead if you try!
How is SLV able to buy 10, or 40, or 60 million ounces in one day? They can’t! They are buying more silver in a few days than is mined in the whole world in an entire year! But they can easily create 10, or 40, or 60 million ounces of paper silver while not causing the price of silver to rise but rather fall!
SLV and GLD etfs are government approved Ponzi schemes!
Advice: Be Smart! Don’t play! The SLV & GLD Game Is Rigged!
I love that graph (or is that graft) of Romes population.
There are 4 interesting points.
First, the peak when Rome’s empire was being governed properly (building (stealing) wealth).
Second, the first downward slope when Rome became all about the 1% (redistributing the wealth).
The third, when the downward slope suddenly kneed downward (Knock-Knock!). Clearly the 1% had left!
The fourth, when Rome’s population exited enmass as there was no wealth left to redistribute!Darkmatter:
One really needs to feel sorry for the mass media now that Trump is gone!
What are the media going to do to keep their viewer ratings up, with no Trump?
Oh, I see they are refusing to let Trump go!
So California is going to recal it’s state governor for being an idiot or something like it!
Then why isn’t New York recalling it’s governor for being a mass murderer?So India bans bitcoin! How are they going to know if their ban actually works? They can’t even ban gold imports never mind steal temple gold! Indians should be very grateful their government is so incompetent!
Clearly Trump was holding bats in cages in China!
The CIA is a criminal organization. So was the KGB! So is the CCP!
I know from first hand experience, in 1983, the KGB was a criminal organization! A meter was stolen from the tool kit sent with the mining equipment sold to the Russians. Being state property, the police wanted to know what the meter looked like so they could watch for it on the local black market. Obviously the KGB ran the black market!
Now you know how the mafia took over Russia so quickly in 1990s! What else are 2 million unemployed secret police supposed to do? They keep on doing the only thing they know how to do!
I also noticed all the Russian secret police in Siberia carried AK-47s. I can only surmise that it was a dangerous job and many got themselves killed enforcing the state’s will on everyday Russians. I also surmised that the secret police in Siberia must have not got “A”s in secret police school, especially considering how many of them we accidently managed to corner!
V. Arnold:
Following up on your comment about the cultural differences of gold between the west and the rest of the world.
Obviously you have travelled the world a little bit so you know Asia’s views of gold, first hand! I have traveled to over 20 countries and I can tell you they all share Asian’s view of gold!
Only in Canada, US, Australia, New Zealand, have citizens not faced upheavals in the last century, so their citizens have a disdain for gold.
However, in Europe that isn’t the case! Gold has saved many in the last 100 years! Same for China, Russia, Middle East, and Africa!
Here is one story I read about a German Jew trying to leave Germany in the mid 1930s before the door slammed shut. They were not allowed to take anything of value like foreign money, gold, or jewelry out of Germany. They could only take one trunk of clothing per family. This person had a friend, who was a jeweler, make the trunk’s hinges, corner protectors, and latches, out of gold. The Germans naturally throughly searched the trunk of clothes. That small amount of gold gave his family a new start in the west.
It kind of reminds me of a story about a Belgium man during WW2. He worked in an industrial plant. At quiting time he would put his lunch bucket into a wheelbarrow and wheel it to the guard house. The guards would check his lunch bucket and his clothes to see if he was stealing anything. Then he left with the wheelbarrow. Ever day, at quiting time, he put his lunch bucket into the wheelbarrow, and left.
Nobody seemed to noticed that he was stealing wheelbarrows!
Zerosum:
You are missing the whole point!
If gold goes from $1,000 to $20,000, the value of gold hasn’t changed at all!
What has changed is the value of your dollars has dropped 95%! Where before you needed one $20 bill to buy something, now you now need $400 or twenty $20 bills! It is the paper that is worth less!
At that point nobody will accept your $400 but they will gladly take your gold, no questions asked!
my parents said know:
You are 100% correct, the air in Labrador during winter is extremely dry! And guess what! I suffer from very dry skin, red rashes, and severe allergies. No victim C & D up there by the tree line!
I suffered terribly and was always sick with colds, etc. I always had bloody noses. To stop them, my Mom would pack my nose with long narrow strips of Vaseline coated cloth. The thing was, I didn’t know any better because it was the only world I knew of, so I was happy. Funny thing was, we had no radio or TV to entertain ourselves. We had to entertain ourselves. I didn’t know I was deprived!
The main reason my family moved from Labrador down to Montreal in 1965 was because of multiple health issues. I was always sick, then next my brother, and then my Mother (early arthritis). My sister was the only one healthy! It was hard for my Father because after 25 years, he had risen to the top.
The second reason was for schooling. The local school only went up to elementary grades then it was off to boarding school 300 miles south.
I went from maybe 10 classmates in grade five, to a school with six grade 5 classes of 30 in Montreal! Needless to say I struggled! Being hard of hearing didn’t help either! But it was critical my parents moved when they did or it would have been too late for me.
I eventually managed to drag myself through electrical engineering in Toronto, though it wasn’t very pretty. My younger brother was a gifted student so he was put into a more challenging class. He went on to take mechanical engineering at Waterloo, Canada’s MIT and now works for GM in Detroit. My younger sister of course loved it being a social butterfly. She went to the same Toronto school I did.
We all had to leave Quebec to continue our education because we weren’t French. The 1970s a sad time in Quebec’s history. Instead Ontario got all of the best and brightest plus company headquarters. Montreal is no longer Canada’s biggest city.
One thing a I noticed about being from up north, a certain type of toughness to being in isolated areas that city folks don’t seem to have. It served me (and brother too) very well when I was a service engineer in Milwaukee, building mining equipment in remote mines all around the world. I was often sent to finish projects from other more talented engineers who couldn’t take it any longer and had cracked up. Nobody builds mines in nice places with nice hotels or nice restaurants!
Susmarie108:
Just to follow up, one of the reasons the US gov deregulated Wall Street is so Wall Street could not only “financialize the US but also the entire world!
It was also part of keeping the US dollar as the world reserve currency.
Susmarie108:
Regarding “financialization” in the US.
Pre this financialization, Wall Street typically represented about 6% of the US economy.
After financialization, Wall Street now represents about 12% of the US economy!
Do you think these greedy bastards on Wall Street, doing God’s work, are going to let anyone stop them from growing larger? They 100% own the private Fed!
They will keep trying to grow larger and larger until their bubble bursts! Only their greed will stop them!
Meanwhile all we can do is wait and hope we can survive the mess they leave us.
Dr. D:
Yesterday I was reviewing an end of the year report from a Canadian gold miner that I own. They mostly operate of number of small mines in northern Canada but have one mine in Findland and one in Mexico.
Since these mines are in remote locations, the miner has been spending over a $1.5 million per month providing heath services to deal with keeping their miners and the mining communities they live in safe from covid.
What really struck me is that they provided a table showing the numbers of all detected cases of covid at each mine and their local communities plus recoveries.
From this table, Mexico stood out like a red thumb! Canada and Findland had a few dozen cases in total. Mexico had nearly 300 cases or about 10 times as many!
So joe letting 100s of thousands of people entering the US from Mexico, untested, is a disaster in the making!
O.K. I think I get it now! If I am “woke” that really means I am asleep!
So we have a “show” trial going on in Washington DC that nobody is covering so you can’t watch!88 There is no judge presiding. There is no crime. How do you spell “k-a-n-g-a-r-o-o”?
We had a scripted “riot” scene on capital hill employing leftist actors starring as conservatives! Did they get extra danger pay for acting in this violent theatre play?
It is nice to know that someone was smart enough to label their Ponzi scheme “Lincoln”, rather than dot.com, to better fleece liberals of their money. A fool and their money are soon parted! Being deep state approved, the DofJ will protect the schemers from their kool-aid victims and nobody will be charged since obviously no crime was committed!
my parents said know:
Being the first to break ice is always tough! I am surprised wearing dresses in winter existed! Certainly my younger sister always wore pants to school during the winter (1960s)!
Around our neighborhood, my son was always known for wearing shorts to school during the winter! But Toronto is relatively mild compared to say Montreal.
When we first moved to Montreal from Labrador, I thought I had hit Miami! Then when I moved to Toronto I thought I had hit Miami again! Toronto is warmer than Montreal, similar to Milwaukee (worked out of there off and on for 8 years). Montreal is more like Minnesota.
Now wintering in northwestern New Mexico on the Navajo reservation was great! Got above freezing nearly every day! Then on long weekends would drive 12 hours to warm Phoenix!
I have also experienced winters in southeastern Saskatchewan by N.Dakota border, Montana, and Wyoming. And yes Siberia too!
In my old age I am now allergic to cold winters! Right now wish I could join my brother from Detroit working remotely from Florida,
chettt:
Actually all of the world’s major central bankers keep huge stockpiles of gold in their vaults! And for very good reason! Gold has no third party liabilities! Gold is the only true money!
Unlike paper money which is an IOU from central bankers! Many would say central banker’s paper money is more like an IOUN – “I owe you nothing”!
As a central banker, *If you don’t hold gold, nobody will take you seriously! You need some gold to be credible!
Another way of looking at gold. Gold serves as paper money’s horizon. Without a “horizon”, imagine trying to fly a plane! Without a fixed horizon, you wouldn’t know if you were flying upside down or about to crash into the ground!
Another way of looking at gold verses central banker’s paper money. Imagine if you were floating in space. There are no horizons in space.
You might observe Mr. USD (devaluing faster) falling below Mr. Yen. But maybe Mr. Yen is actually rising? Then again maybe Mr. USD and Mr. Yen are both (devaluing) falling but Mr. USD is just (devaluing faster) falling faster? How do you tell without a reference point?
This is where gold provides a fixed reference point or “horizon” to our central banker’s artifical paper money world.
That is why gold is being suppressed by central bankers! They are trying to manipulate your horizon or reference point! They don’t want you to see how much they are devaluing their paper money by printing ever more amounts of paper money!
Gold hasn’t gone out of style! Central bankers desperately need/want you to think so!
Please don’t be fooled by the lies central bankers want you to believe!
my parents said know:
You must live in sunny Minnesota to see a silver lining in cold temperatures!
When I was a kid, my family lived in Northern Quebec/Labrador.
One year we got a new school principal from southern Canada.
In early October we got our first big snow fall, 3 feet plus. Our school principal, lived about 4 houses down the street from us. From his front window he watched us, out playing in the snow all day long!
The next time we got another big dump of snow he didn’t cancel school and we were so disappointed!
Up until I was 10, before we moved down to Montreal, I had always thought you had to have at least 4 or 5 feet of snow for Halloween! I didn’t know Halloween was supposed to be green!
I also remember my Mom yelling at us to get off the roof of the house in the wintertime because we liked to jump off the roof into the softer snow on the leeward side of the house! We could easily walk up the hard packed wind driven snow on the windward side of the house onto the roof.
Yes we built igloos and forts, using a long bread knife to cut blocks of snow!
Snow lasted about 10 months of the year with the ice on the lakes melting late June to early July. Every year they put a car out on the lake and held a raffle as to when it would fall through the ice!
Zerosum:
Raising the price of gold would “not” create a new class of billionaires!
Why? Because the value of gold does not change! The value of gold is constant!
The only thing that changes is the value of paper money goes down! So you need more paper to buy gold!
Owning gold merely preserves current wealth! It does not increase wealth! It is like insurance!
An ounce of gold bought a suit in Roman times and it will buy a suit in the future too!
When FDR devalued the US dollar by raising the US price of gold from $20 to $35 he mostly screwed the US people.
Today if the US were to devalue the US dollar by raising the US price of gold to $5,000, the US would be screwing the whole world!
This isn’t going to happen.
Mr. House:
If you kill one person you get jailed. If you commit mass murder then all is good!
The head of the WHO is another mass murderer! And that was before he was appointed head of the WHO!o
It looks like joebama is planning to punish Florida for refusing to implement massive lockdowns by banning all travel to Florida! But only Florida.
My brother from Michigan is currently working from home down in Florida.
Carol:
I am surprised with all the money Justin has spent on global warming that you can’t grow peaches!
Arthur & V. Arnold:
In a former life, I did some industrial photography using a Hasselblad camera which is a 6 x 9 cm or 2-1/4″ x 3-1/2″ negative sized camera which is smaller than the large format cameras used by the f64 photographers. I used this camera until digital cameras came which completely changed things.
None-the-less it was amazing what shots one could do compared to a 35 mm camera. Dept of field is where it shines. Sadly it also dates me!
Another way to look at the blue and red world map is to realize how rich small Bangladesh is in it’s ability to support human life, compared to most of the land mass in the rest of the world!
Clearly Bangladesh produces more food than Canada, Russia, and Australia put together!
Another way of looking at falling birth rates.
In today’s social welfare state, an individual is already burdened by pre-existing state (public) family obligations via income taxes, sales taxes, property taxes, etc.
Then should this individual decide with another individual to bring a child into this world, they have to take into consideration the ability to take on the double burdens of a state (public) family plus their own private family.
Do they have enough financial resources, and personal energy left to support both? Can they do it well or just poorly?
Further if they do decide to start a private family, do they still have enough financial resources left if one of the two individuals has to reduce their financial resources to start a private family since the burden of supporting the public family never goes away?
Obviously, the falling birth rate answers these questions.
So just as I expected obiden is aggressively pursuing Julian. It wasn’t very hard to figure this out. All I had to do is look at who has the motive. The same folks who own the RussiaRussiaRussia narrative!
Have you noticed how the RussiaRussiaRussia narrative is be amplified since joe arrived.So joe’s war is peace is re-occupying Syria, ending the peace in Afghanistan, and ending the peace on Americans at home. This should earn joe a nobel war is peace prize!
Dr. D:
John Kerry, like Al Gore before him, is clearly working to lay the ground work for ensuring that “failure is an option” for climate change!
Madamski:
With your clear, concise, and to the point writing, I seriously doubt you could ever get a job with the Ministry of Propaganda and Truth, nor at the Fed!
Rototillerman:
I doubt they are too worried about being primaried since the votes can easily be rigged.
There not being enough Republican voters seems more likely. Expect Dem sweep of senate in 2022.
Would be really nice to see corrupt republican party go the way of the dodo bird but that will take a long time due to billionaire supporters. Maybe another generation?
Now that the US media have canceled Trump, what are they going to cover to keep their rating from falling even further than they already have?
I am waiting to see if MAGA voters decide to cancel the Republican party by forming a new third party?
So far 5 long time never-trumper Republican senators have said they won’t run in 2022 when 20 Republican senators are up for re-election. Why so many quiting?
Madamski:
My Father’s ancestors left England in part due to the terrible coal smogs in the late 1890s.
Big bird would have liked that flip!
So with joe, we are rejoining the dictatorship’s clubs where war is peace, or waging war peacefully, droning only means blowing out the candles on children’s birthday party cakes, or providing fireworks to celebrate family weddings, the virus and blm crisis are suddenly gone with Trump, redefining journalists as propagandists, and eliminating any jobs for real journalists, money flowing freely again in the swamp, no more reports of corruption, foxes back in charge of all government chicken coup, generals free to start new wars of peace.
How simple our world is now with joe at the helm.
Yeah the ocean’s sharks have a problem. We stole their breakfast, lunch, and supper!
The land sharks, however, are doing great! They have more breakfasts, lunches, and suppers, to eat than ever!
V. Arnold:
Enjoyed your Russian/US/China joke.
People forget the Russians have a sense of humor.
They pretend to pay us and we pretend to work!It is interesting to note the things obiden are doing like censoring/siliencing enemies, keeping troops in Washington DC, impeachment, no security briefings for ex-president, all action of an insecure administration that stole the election.
These are not the actions of a properly elected confident administration.
Mr. House:
I know the Finns were lucky in their 1939-40 Winter War that Stalin had purged the Red army of most of its capable officers. The Finn’s top genera, was an experienced Russian General under the czar!
If the Winter War had not occurred, then Russia might have lost when Germany invaded a year later. As a result of the Winter War, Stalin brought back some of the experienced army officers that he hadn’t shot and reduced the power of the political commuczars.
