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Showing posts with label commodities. Show all posts
Showing posts with label commodities. Show all posts

Monday, April 17, 2017

Wall Street financialization of Bitcoin continues as CME seeking to allow derivative trading

The CME Group is in the process of finalizing a patent for a Bitcoin derivative contract that would allow Bitcoin miners to hedge their production of Bitcoin currency.

In a new report on April 17, the Chicago Mercantile Exchange (CME) is planning to allow for derivative trading of Bitcoin futures on the nation's largest commodity exchange, and continue Wall Street's financialization of the crypto-currency.

Derivatives giant CME Group is looking to patent a way for bitcoin miners to hedge against operational risks. 
As detailed in a patent application published last week by the US Patent and Trademark Office, the proposed system would receive data from the bitcoin network as a means of keeping contracts up to date - monitoring metrics like network difficulty and price.
CME previously launched a pair of bitcoin price indexes last year. 
The filing is notable as bitcoin mining, the process by which new transactions are added to the bitcoin blockchain, is a kind of commodities production. Miners expend energy and manpower in exchange for newly minted bitcoins. - Coindesk
The largest problem with this of course is that derivatives and futures contracts for both commodities and currencies are allowed to be bought and sold by banks and other entities who have no skin in the game.  And it is this type of trading that has led to the suppression of gold and silver since their prices are determined by benchmark auctions in London, and paper futures contracts at the Comex.

Sunday, February 12, 2017

Gold and Silver set to take off even as the undisputed King of Commodities forecasts worst economic problems of a lifetime

On Friday silver crossed back over $18 per ounce for the first time since November as the precious metal complex has been even stronger at the start of this year than it was 2016 following identical rate hikes in December by the Federal Reserve.  And now that gold has achieved a vastly important technical indicator by initiating the highly positive Golden Cross, prices for metals are fueled for takeoff at a time of vast uncertainty, and where Jim Rogers, the undisputed King of Commodity trading, is forecasting economic problems so dire that they will be the worst in our lifetime, and consequently people will perish.

...get prepared because we're going to have the worst economic problems we've had in your lifetime or my lifetime and when that happens a lot of people are going to disappear. 
In 2008 Bear Stearns disappeared, Bear Stearns had been around over 90 years. Lehman Brothers disappeared. Lehman Brothers had been around over 150 years. A long, long time, a long glorious history they’ve been through wars, depression, civil war they've been through everything and yet they disappear. 
So the next time around it's going to be worse than anything we've seen and a lot of institutions, people, companies even countries, certainly governments and maybe even countries are going to disappear. I hope you get very worried. 
When you start having bear markets as you I’m sure well know one bad thing happens and another bad thing happens and these things snowball just like in bull markets good news comes out then more good news comes out the next thing you know you're five or six or seven years into a bull market. 
Well bear markets do the same thing and so we have a lot of bad news on the horizon. I haven't even gotten to war. I haven't even gotten to trade war or anything like that but you know things do go wrong. - Microvoices via Zerohedge

Saturday, July 30, 2016

Gold crosses a milestone that historically guarantees another 40-412% in price growth

Before the advent of central bank intervention into the markets, most investors relied upon fundamentals and technical analysis when researching the future of a company stock, or the potential growth in resource commodities.  And while past history does not always guarantee future trends, the likelihood of certain benchmarks being crossed places the probability of such moves in the 75-95% range.

This week, technical analysis for gold reached one of those historical milestones, and in all past bull markets for the metal, the upside once reaching that benchmark has always been between 40 and 412%.
Strategically, it’s been even longer since we updated our longer-term framework for gold.  In fact, it’s been three months since we did that in this post.  In that May piece we suggested the metal continued to track favorably vs. our bullish expectations, but in the near-term it faced a major test having rallied nearly +25% off its Dec-15 low, a historical demarcation point whereby cyclical retracement rallies were either snuffed out with a resumption of a secular bear beginning afresh, or, the same moves continued higher, indicative of a new secular bull being underway.
Where do we now stand vs. that +25% demarcation point? 
As of month-end today, gold is up over 27% from its Dec-15 lows. 
This a major milestone - any time gold has managed a move of at least 25% off a major low, it has continued higher every single time with incremental gains ranging from 21%-412%, with the average totaling 175%. - Only Prices Matter


Chart courtesy of Only Prices Matter.com

Monday, December 1, 2014

Goldman Sachs joins three other major in banks in lawsuit tied to metals manipulation

The price rigging and manipulations just keep on coming in the Western financial system as a new lawsuit filed against Goldman Sachs, HSBC, and two other major banks accusing the institutions of wide-spread price fixing in Platinum and Palladium over a sever year period has been filed in Federal court this week.
 
The lawsuit filed in a court in Manhattan was done by Modern Settings LLC, a Florida-based maker of jewelry and police badges, and brings a to a judge a case where losses incurred to both businesses and customers equates to millions of dollars in over-pricing tied directly to commodity broker manipulation.
 
 
Read more on this article here...

Thursday, December 22, 2011

Ann Barnhardt speaks with Peter Schiff on her call for a general strike on the financial markets

Commodities manager Ann Barnhardt recently closed down her business thanks to the MF Global scandal, theft, and overall destruction of the futures markets.  Not one to simply lick her wounds and sit on her laurels, she set a course of action in motion, and is calling for a complete and general strike by all businesses and Americans on the financial markets.

On December 21st, Ann spoke with Peter Schiff on this, and on the ramifications of the future of commodities and agriculture because of MF Gloabal.

Wednesday, June 15, 2011

Eric Sprott speaks on paper versus physical assets on King World interview

Eric Sprott - We’re Headed Over a Cliff, Be Wary of Paper Assets

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/6/10_Eric_Sprott_-_Were_Headed_Over_a_Cliff,_Be_Wary_of_Paper_Assets.html

MP3 audio of the interview at the bottom of the article.