A new director and a fieldwork update from Idaho North
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there is” no change”…….when the number is ZERO
GLD claims an inventory of 787.08 tonnes of gold.
It is my belief that there is little physical left in that inventory.
Holdings in high probability being dominated by paper.
Thank you Professor.
Will another oil price surge now tip the world into a global financial crisis like it did in 2008?
Posted on 12 June 2014
The oil price has a long record of plunging the world into recession. Indeed pretty much every major economic downturn for the past 40 years can be put down to oil. The global financial crisis of 2008 was no different with a sudden spike in oil prices to $147 a barrel that July as the straw that broke the camel’s back. Remember until then financial markets were trading calmly close to record highs.
Is there not a sense of deja vu this summer? Still think back a little to the 1974 stock market crash or the recession of the early 90s. A sudden spike in oil prices was what popped these bubbles.
Oil’s importance
What is it about oil that makes it so important to the global economy? Has its importance gotten greater or lessened over time?
True there has been huge progress in lessening the world’s dependence on oil as a commodity, from energy-saving innovations to the fracking revolution. But the problem is that global demand for energy keeps on rising as a greater proportion of the world’s economy achieves lifestyles that where once only available in a limited number of Western countries. How many Chinese drove cars 15 years ago? Now it’s the world’s biggest car market.
It’s a problem then when a nation the size of Japan has to shut down its nuclear stations after an earthquake due to safety fears, or when a country as large as Germany with no earthquake issues decides to do the same after a public vote on the matter. Oil is the swing producer. It’s available, safe and easily used, at a price.
Read More at:
Another thank you, Professor
Much of the Iraq hostilities and oil is covered by Zerohedge.
However, permit me once again to bring to your attention:
1. The lack of Obama foreign policy in arming both sides of the conflicts:
http://www.zerohedge.com/news/2014-06-12/how-us-arming-both-sides-iraqi-conflict
The stupidity of Dogmatism that Obama cannot admit a mistake.
He said the Iraq war was over and pulled out troops, but refuses to aid Iraq now with bombings or even using drones against terrorists.
The Kurds have now taken all areas they claimed before the Iraq war.
Iran now has troops within IrAQ.
CAN IT BE LONG BEFORE KUWAIT FALLS,
OR PERHAPS JORDAN?
What are the chances for Saudi Arabia after that.
And then Israel? The domino theory over again and while it did not happen quickly in the 70s., this time may be different.
WHY ARE WE NOT BOMBING AL QUAEDA TRAINING CENTERS.
Why do we have high flying expensive bombers, if we can’t or won’t use them?
Truly enjoy most if not all of your of your posts. Thank you! I think Israel may be pushed into the nuclear option if things get toooo bad. No way for them to win a ground war.
Exactly correct Chris. How is.That swan doing?
Unlike the US, where after hearing upon hearing the CFTC saw no evidence of price fixing, the UK is taking a different stance.
From Bloomberg:
Traders who manipulate currency rates or borrowing costs would face criminal charges under plans to be announced by Chancellor of the Exchequer George Osborne in a crackdown on bankers less than a year before a general election.
The government is poised to extend laws imposing as much as seven years in jail for Libor manipulation to gauges used in foreign-exchange, fixed-income and commodity markets, according to a statement by the Treasury before Osborne and Bank of England Governor Mark Carney speak at London’s Mansion House today
Good for them!
Today Ontarians went to the polls, well some of them most people don’t vote. So what happened, they returned a scandal ridden government that spends and taxes. I guess those who voted don’t think that governments need to be wise with their tax dollars. The unions are so strong here that to oppose them is political infanticide. I think they didn’t like the mole on the opposition leaders face, now we are in for a liberal majority that thinks they can spend their way out of deficits, I hope Moody’s gives them what they deserve, the dumb bunnies.
With superior political intelligence a heartbeat away from being President of the United States.
https://www.youtube.com/watch?v=tLteUGkvpOc
(Clueless in DC)
Yup, pretty wrong. But, Professor, what else is new!
Baghdad will fall within days.
Al Qaeda captured enough armament to equip a division.
Obama knew what was going on in Iraq and DELIBERATELY chose to do NOTHING.
http://online.wsj.com/articles/u-s-secretly-flying-unmanned-drones-over-iraq-1402605640
Tell me Obama is not aligned with the terrorist muslims. It is either that or he is totally incompetent.
(The advancing Al Qaeda terrorists were advancing along roads in open desert, it would have been a chicken shoot just like the first Iraq War. Now they are embedded in towns.)
CFS, when do you think that Americans will have had enough war, is there a limit for you. The people in the Arab world need to take responsibility for there own well being. The west can’t keep enforcing their beliefs on others, it doesn’t and hasn’t worked. It’s too bad you didn’t learn from the last Iraq war.
When NEVER OK ! Day LOVE THE DOLLAR and TV ! DENIAL OF CORRUPTION ! IS THE NEW WAY AND DAY LOVE IT ! ON A BIG POWER TRIPPE !!!!!!!!!
See way down below, DT
Al Qaeda will now soon control Iraq, using plunder to build up strength.
CFS ! The western TV brainwashed population are looking football ! Meanwhile the new world order is building the MEAT GRINDER MACHINE in the MIDDLE EAST !
Even further off topic:
Sometimes I read stories out of interest; not expecting to read anything that has significant content.
One such story:
http://www.independent.co.uk/news/people/angelina-jolie-accused-of-threatening-disrespecting-chinas-sovereignty-after-ang-lee-commen-9521831.html
Now tell me the Chinese mind-set is not expecting re-unification with Taiwan in the near future. When the opportunity to take it back occurs.
DT, It is too bad the Americans have forgotten how to fight a war and did not learn from Vietnam. It is a greater pity you do not understand terrorism. You do not win a war by being nice to people; that is only seen as a sign of weakness.
You are so right about the West enforcing its beliefs on people. Can’t be done. They only end up hating the West. The only way to win a war is to make the other side realize they can’t win or that the price of attack is too high to bear. That worked for MAD during the second half of the 20th century.
The West is doomed to experience another version of 911; unfortunately probably many more. Do you think living in a police state will manage to thwart all potential attacks? Dream on.
Big Al may believe in the “can’t we all just get along” attitude to life, and I would love it if that were possible; it even might work if the whole world was composed of Christians, but I prefer to face reality.
Yes maybe tell this GIRL ! https://www.youtube.com/watch?v=wWqVu8ahiIY
Friend of yours!
CFS, I think you don’t understand terrorism, there is such a thing as state sponsored terrorism or do you only see one side.
“there is such a thing as state sponsored terrorism” I agree.
So what have we done to stop state sponsored terrorism by withdrawing from Iraq, or any other part of our foreign policy?
(Incidentally the US sponsors terrorism, too)
From Armstrong Economics blog:
ISIS is becoming a proto-state that is its own sovereign entity in the mind of its forces. The brutal brand of Shariah law enforced by ISIS includes beheadings and amputations. It appears that they are turning away from trying to overthrow Syria and instead are just carving out a new country from both Iraq and Syria.
While the official story has been attributing their funding to the seizure of banks, this does not explain their arms to seize the banks. That funding came from the USA and Saudi Arabia. This is the bread-dead foreign policy that is coming back in spades. The more people play demigod with power grabs and manipulations, the greater the chaos they are creating that will only set up forces that will confront the very people who have funded such groups.
Let me re-phrase the statement; “Incidentally the US sponsors terrorism, too”
The US has been and continues to be the greatest sponsor of terrorism throughout the world in the last half century.
USA Watchdog:
https://www.youtube.com/watch?v=Zj6fzfssY7Q
OFF TOPIC:
Here comes my nightly download of info…..
Over 1 million ozs of silver came out of LBMA inventory today.
No change on COMEX for gold or silver inventory.
Gold GOFO rates positive and climbing slowly.
No change in GLD inventory.
(It has been over a week now since any gold was sent to Switzerland for refining and sending to China.)