An Interview of Antal Fekete by the Daily Bell. Fekete talks about why the price of gold in currencies is decreasing, and headed for extinction, instead of $5000+. He says that long before the price reaches those heights, gold will stop trading on the open market. It will only be available privately, via barter, also known as the Free Market, and it will only be available at the real price. It will not be available at the artificially low prices created by the Central Banks and their Cronies at Goldman and JPM. Why? Who will sell at that price? Read more about That Which is Caesar's
Language is the key. Words are merely sounds or methods of communicating concepts and ideas. Confusion happens when words are used to convey a concept and we are not in agreement on the definition of the concept. That's why in Law, older law dictionaries are preferred, such as Black's 1-6 for example. The definitions haven't been bastardized nearly so much by the Status Quo, and their deliberate hijacking of language and education. Read more about Memorandum on Economy & Money
The only reason people think so is because that is how the debate is framed in most circles. My local newspaper provides a quick example of this when it titles an article, "Help smokers, overeaters - or let them die?" (or at least that's one way to phrase it; this link titles the same article differently, but with the same ideological conclusion: "Analysis: Is it fair to penalize smokers and overeaters? Yes, say experts. Here's why"). Read more about Health Care Is Not a Public Good
Many people were disappointed with how Barack Obama didn't substantively change George Bush's foreign policy, war on civil liberties, and zealous pursuit of the drug war. I wasn't. I never believed that he would change any of these things. And yet he is reelected. No doubt this is due to how the electoral system is structured, ensuring that only those with establishment approval ever get close to being elected chief executive. That he was reelected is not as puzzling as why many of those he disappointed still support him. It is not the case that they felt they were simply choosing the evil that they knew (indeed, the video below shows they did not know) over the evil they didn't. Rather, they were exposed to the evil and yet supported it anyway.
Here's a little addition to yesterday's post.
Here's a report by Eric Sprott and Davis Baker on western CB gold. By simple process of elimination, they are the only holders of physical that could possible mobilze the kind of volume that has been imported by Read more about Supplement to Yesterday's Gold Post
Today we're going to look a little deeper into two major themes that are discussed regularly on NT4B. One is that we've always said that the spot price of gold is irrelevant because it has no basis in reality. The other is that unless you are taking physical delivery, you only have claims on physical. What we haven't really done, is covered the details behind those two themes. Read more about How is the spot price 'set'?
The Election has passed. Obama got another term. And things aren't as quiet as they were before November 6th. You might have noticed gold and silver started moving higher shortly after the Election. You might also have noticed that tensions in Middle East between Iran and Israel are rising again. Those who own gold might have a happy Christmas this year, and that implies a rather unpleasant Christmas for anyone holding paper.
Quite obviously we're now out of the Eye of the Storm and getting into Part II:
As of Nov. 15th, 2012, all 50 states had petitions in place to secede from the “Union”. Some of the alternative news media have jumped on the wagon, vying for first place to lead the charge. Read more about Guest Post: Don't Fight the System
At NT4B, we think it's important to call a spade a spade. One area where relatively few people seem to apply such reasoning is the realm of the State. Whereas most people would say taxation is justified, those same people would think it abhorrent if a group of robbers went door to door demanding a percentage of one's income or value of their property. The idea that such coercion is wrong, whether done by an individual or a group of individuals, is called the Non-Aggression Principle (NAP). According to Murray Rothbard, this is the basis of the libertarian philosophy. Read more about The Red Pill (And Libertarian Angst)