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International Forecaster May, 2006 (#3) - Gold, Silver, Economy + More

By: Bob Chapman, The International Forecaster



-- Posted Sunday, 21 May 2006 | Digg This ArticleDigg It!

The following are some snippets from the most recent issue of the International Forecaster.  For the full 39 page issue, please see subscription information below.

 

                       THE INTERNATIONAL FORECASTER

MAY 2006 (#3) Vol. 10 No. 5-3

P. O. Box 510518, Punta Gorda, FL 33951-0518

An international financial, economic, political and social commentary.

Published and Edited by: Bob Chapman

E-mail Address

International_forecaster@yahoo.com

 

CHECK OUT OUR WEBSITE

www.theinternationalforecaster.com

 

 

 

SUBSCRIPTION and RENEWAL INFORMATION: 1-YEAR $129.95 U.S. Funds.   

Make check payable to Robert Chapman (and NOT to International Forecaster), and mail to P.O. Box 510518, Punta Gorda, FL 33951-0518. Please include name, address, telephone number and e-mail address. We accept Visa and MasterCard charges.  Provide us with your card number and expiration date.  We will charge your card US$129.95 for a one-year subscription. Note:  We publish twice a month by surface mail or 3-4 times a month by E-mail. international_forecaster@yahoo.com

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                                                                                       *****

 

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US MARKETS

 

            There is no question in our minds that Vice President Dick Cheney believes he is the reincarnation of Herman Goring. 9/11 was the elitist version of the Reichstag fire and it was the operative event that was used to introduce forms of dictatorship that had been formulated years before when Mr. Cheney was Secretary of Defense under George H. W. Bush. The vehicle for total control of the American people was the USA Patriot Act and following legislation.

 

            After that was accomplished military and intelligence operations were taken out of the hands of government and into the control of private and public corporations. This was the transition to the corporatist fascist state. After George H. W. Bush was defeated for a second presidential term Mr. Cheney took over as CEO of Halliburton. Later he and George P. Schultz, who was the CEO of Bechtel, formed the Bush-Cheney team for the presidency. We know what transpired and after in office with Cheney crony, Don Rumsfeld the lies began and at the same time military and intelligence was in part turned over to Halliburton, Bechtel, Carlyle and other crony companies. This is when this triumvirate took over the entire American intelligence operation.

 

            What has followed is the worst corruption in modern times. Not only the stealing, but also the spying on Americans, privatized torture, abuse and murder and holding people without charges for years and kidnapping them off the streets of the world in violation of the sovereign laws of other countries. This is what murderous dictators do.

 

            Through globalization, private mercenary armies, private secret police forces all run by firms such as Halliburton and Bechtel, anyone who speaks out is hunted down and silenced or murdered. Via globalization, which is the elimination of the nation-state, power is transferred from the nation state to elitist transnational corporate cartels. The system becomes totally predatory. First it’s the elimination of whole industries, then public investments, then governments and then the world.

 

            The table is set by the creation of perpetual war for perpetual peace. The masses are eventually against the wars but are powerless to stop them. The wars are theatre devised as distraction to keep the citizens focused on what is a stage play, as the globalists steal your freedom, livelihood and your entire way of life. This is to be the recreation of Imperial Rome via the financer oligarchy and the control of America’s vast military machine. A world system of interlocking syndicates, which rule people, not governments. This is how we know financial collapse is in process. It has been used many times before albeit unsuccessfully. This is a threat to civilized life, as we have known it. Justice is first perverted and then destroyed. You cannot defend your rights against the state if they own the system. Power is being transferred from the nation-state to the international financial interests. This is not only treason; it is the destruction of our laws and culture. This has to be reversed and the only way to affect that legally is to take over Congress in the next election, voting almost all of the participants out of office and then impeaching our President and Vice President. If we are unsuccessful in doing that, then the only resort left will be revolution.

 

...

 

Two weeks ago the Iranian government said it would soon open its oil bourse. At the same time the G-7 said they were giving the job to the IMF of bringing about a soft landing for the dollar. Since then the dollar has plummeted from 90 on the dollar index to 84, and the euro has climbed from $1.21 to $1.29. The reality of the matter is the neocons couldn’t find an excuse quick enough to invade Iran. Iran will trade oil in euros and after a few months that will put pressure on the dollar. It means that countries that have lots of dollars can sell dollars and buy more euros or gold. It will also end the era of the US dollar as the world’s reserve currency. The dollar will correct 60%. The dollar index should fall to about 50 and the euro should rise to about $1.60 to $1.90. This event will transpire over the next two to three years and cause a crisis bigger than the depression of the 1930s.

 

            Generally speaking very few people know of this event and its ramifications. Our media has blacked it out. Foreign central banks hold two-thirds of their reserves in dollars so they will face severe losses as well. There is no question in our minds that the US will go bankrupt and there will be a debt workout of something like $0.30 on the dollar. Our country has been stripped of its ability to compete due to WTO, NAFTA, CAFTA and almost the complete destruction of our manufacturing capability. In order to revive our economy protective tariffs will have to be put in place because otherwise there will never be a recovery. We cannot compete with slave labor and we have not been able to do so since the inception of our country. Once the dollar falls we won’t be able to service our debt in spite of hyperinflation and the bottom will fall out. That is when the new World Order elitists will use worldwide depression to seize assets and implement a police state. This is why you have to get out of debt and into gold and silver related assets.

 

...

 

            Gold owes no one anything. It has been a store of value for centuries, a safe haven in a political, economic or financial storm. It can be used as an anchor for other currencies. The gold solution is simple – a no brainer. The opposition is the elitists, central bankers and politicians. They want the ability to create fiat currency. The excuse is in today’s global economy a gold standard is too restrictive. They want leverage and gold doesn’t allow that. We have already witnessed what shambles fiat currencies have led to in our monetary systems. Central banks cannot be trusted to apply the precepts of sound money effectively. They have already demonstrated that. We need transparency and direct financial responsibility for failure. We do not want to hear sorry about that and the culprits walk off into the sunset. A gold standard system has to be policed by private interests, not government hacks. Government bailouts have to end, and the US government either has to settle now with creditors or go bankrupt before venturing a gold standard. Fixed exchange rates will be official and operated by private interest. They would also declare devaluations. This way everyone knows where they are at all the time. It’s easy, painful and fully achievable and it will happen, but only under the worst of circumstances.

 

...

 

GOLD, SILVER, PLATINUM, PALADIUM AND DIAMONDS

 

            Gordon Brown, Britain’s Treasury Secretary, sold 395 tons of gold between 1999 and 2003, and that has now cost British citizens $6.5 billion. That was two-thirds of England’s reserves. This had nothing to do with diversifying reserves and everything to do with suppressing the gold price.

 

            Gold and silver had a wild Monday. Gold was close to $8.00 higher on the Tocom, but when London opened, gold was smashed. The cartel sure wanted everyone to know they were attacking gold. This is the most obvious and outrageous attack on gold ever. In an hour they had gold down $35.00 and later $42.00, before there was a rally to $26.00. They also hit base metals and oil. The FTSE was off over 90-points or almost 160 Dow points, yet the Dow ends up 48 points and bonds rally. They call this managed markets or manipulation. Have no fear, it is a war that they cannot win. That’s why we say buy and hold and buy on dips whenever possible. Either Tuesday or Wednesday the market will bottom out and like the three previous engineered corrections since October, this one will be unsuccessful as well. Gold finished the day $26.90 lower at $683.60, and silver fell 87 cents to $13.34. During the day all currencies were smashed. The euro at 1.2792 off $1.24 and the pound off 1.75 to 1.8779 and on and on and on. Zinc fell 9%, copper 7% and nickel 19%. Those numbers are expected because banks are losing billions of dollars just in copper alone. The banks are desperate as we reported last week. The gold open interest fell 6,396 contracts to 344,113. Nickel fell 19% and ended off 8% on the day. Lead was down 8% and came back after being down 40 cents. These are free markets. The gold and silver markets and the stock market are not free markets. The loss in gold price of $26.90 was the 17th largest correction on Comex since 1975, and only one of those days was in a bull market making Monday a rare day indeed. Silver open interest fell 835 contracts to 108,760, yet the Silver ETF was a buyer. Just to show you what whores the Comex management and dealers are, Comex went to market orders only, which expedited the fall in silver and let the dealers make a fortune on order flow. The dollar index rose .58 to 84.41, depriving us of a breakdown below 84.

 

...

 

SUBSCRIPTION and RENEWAL INFORMATION: 1-YEAR $129.95 U.S. Funds.   

Make check payable to Robert Chapman (NOT to the International Forecaster), and mail to P.O. Box 510518, Punta Gorda, FL 33951-0518. Please include name, address, telephone number and e-mail address. We accept Visa and MasterCard charges.  Provide us with your card number and expiration date.  We will charge your card US$129.95 for a one-year subscription. Note:  We publish twice a month by surface mail or 3-4 times a month by E-mail. international_forecaster@yahoo.com

Foreigners please use foreign U.S. dollar denominated checks or Money Orders.

 

                                                                        *****


-- Posted Sunday, 21 May 2006 | Digg This Article



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