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Category: Precious Metals


RECORD WITHDRAWAL OF GOLD – Today’s Quote

JP Morgan had the largest one-day withdrawal of gold ever. JP Morgan had 321,500 (exactly 10 metric tons) withdrawn from its Eligible category… In just one day, JP Morgan lost 22% over its total gold stocks at the Comex. Total gold inventories at JP Morgan declined from 1,459,027 oz yesterday, to 1,137,527 oz. Also, there was another 32,150 oz of gold withdrawn from Scotia Mocatta’s Eligible inventories. This is quite interesting as the removals from both JP Morgan & Scotia Mocatta turn out to be exactly 10 metric tons (JP Morgan) and 1 metric ton (Scotia) for a total of 11 metric tons. via RECORD ONE-DAY WITHDRAWAL OF GOLD FROM JP MORGAN : SRSrocco Report FacebookPinterestGoogleRedditTwitterTumblrEmailPrintPocketMoreLinkedInLike this:Like...

Top 10 Items to Buy Before The Election

The economic, environmental, religious and political stressors on society are compounding in ways not seen since at least the 1960’s.  These forces will have an affect on the prices (and likely the availability) of a number of the goods and commodities you use regularly as well as those important for preparedness.  Of course, the big elephant (or donkey) in the room is the upcoming U.S. presidential election.  I urge you to consider Prepography‘s Top 10 Items to Buy Before the Election: Meat & Dairy:  This summer’s severe drought has significantly decreased the cost and amount of available fodder for livestock causing many farmers to cull their herds.  While herd culling will create some downward pressure in the short run on prices it will be somewhat offset by the government’s plan to spend $170 Million on meat in order to give it away in an election year bid for more agricultural votes.  Even so, the next few months will be the time to stock up on meat and dairy.  Just make sure you can adequately store it if you don’t buy canned for long term storage.  I still talk economics with folks who claim there’s no inflation but consider these retail price comparisons provided by the USDA for the two years leading up to August 2012:  ground beef +19.5%, pork products excluding canned sliced +11.3%, whole fresh chicken +14.3%, Grade A eggs +24%, cheddar cheese +18.1% Veggies and Grains:  Again the drought is having a significant affect.  We’re still eating off of last years harvest but the futures markets are heating up and this year’s harvest looks like a bust.  In my area farmers are bringing in 5-10 bushel per acre (BPA) corn instead of 120-180 BPA and a big portion of the crop must go to ethanol production by law.  There are few certainties in life but the likelihood...

ZeroHedge on Quantitative Easing – Today’s Quote

There was one thing, ONE THING only that Bernanke could do, to become a gold bug’s best friend today, than merely announcing QE [Quantitative Easing] 3/4. It was to announce open-ended QE. This means [that] this is the Fed’s final shot and there is no way to frontrun the Fed any more by definition.  It means the terminal start of currency debasement is now here.  It also means that the path to all time nominal (and inflation adjusted) highs in gold, which is now just $160 away, silver, platinum, and all other metals, as well as all other hard assets is now clear.  It also means that very soon stocks are about to realize what soaring “input costs” mean for the bottom line. via ZeroHedge FacebookPinterestGoogleRedditTwitterTumblrEmailPrintPocketMoreLinkedInLike this:Like...

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