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International Forecaster November 2011 (#3) - Gold, Silver, Economy + More

By: Bob Chapman, The International Forecaster

-- Posted Wednesday, 9 November 2011 | | Disqus

The following are some snippets from the most recent issue of the International Forecaster. For the full 40 page issue, please see subscription information below.




We have been in or associated with gold and silver related assets and commodities for well over 50 years and we find we are not convinced that the failure of MF Global was just that, a failure.


John Corzine’s background makes us wonder if something else may have been afoot. He had been a former CO-chief operating officer of Goldman Sachs, a high-level, political operator and a Senator and governor from New Jersey. From our viewpoint this is cause for questioning.


In 2005 Man acquired Refco, which had failed. That became MF Global. The forced takeover worked out well.


This time it worked out differently. There was liquidation only and all MF Global employees were dismissed and prohibited from functioning. This meant clients were frozen in their accounts, something that heretofore had never happened previously.


Within this tragic event Mr. Corzine was to receive $12.1 million in severance, which we are told he is going to forego. We find that unusual. That is a lot of money. Could it be that Jon Corzine is a slippery sociopath? Corzine was a professional and a former top person at Goldman Sachs. Was he capable of making such a monstrous error? We do not know for sure, but we don’t think so. He was wired into all the right people in government and within brokerage businesses, particularly at Goldman. Could Corzine have deliberately taken MP down, so Goldman could move in and pick up the pieces for a pittance? Could the buyer be a connection to Goldman? Could it be that Corzine’s mission was to destroy MF Global? This is a connected professional; why would be load up on the junk bonds of Greece, Ireland, Portugal, Italy and Spain? He had a lot more intelligence than we had and we would not have done that. We believe the possibility exists that MF’s failure could have been a giant fraud. We will get a better idea when we see who the buyer is.


Then we ask, where was the CFTC? As we have written Mr. Gensler was brought to power at Goldman Sachs by none other than Mr. Corzine. Mr. Gensler is the head of the CFTC. Does that ring any bells? This is the same CFTC that took three years to find out if big banks, such as JPM, HSBB, GS and Citi were rigging the silver market. They come up with nothing and all the evidence was given to them 2 to 3 years ago. We call that criminal and the SEC has done similar things, such as the Madoff affair. We can promise you the CFTC knew exactly what was being done at MF Global and probably covered up for them. We never had much contact with the CFTC but we can speak with authority on the SEC. They almost never go after large firms. They attack small brokers, newsletter writers and firms. Some call these agencies useful idiots – we call them crooks who prey on those who cannot fight back. The agencies are trying to cull small and medium sized firms for years. They want their friends at the biggest firms to have all the business.


It could be Corzine was set up at MF Global to destroy it. After this really gets underway we wonder which will be the next firm to go bust. Our corporatist fascist government loves monopolies and that is where the stock and commodities brokerage business is headed.


It will be of great interest to see how this turns out. Crime usually pays at the top level of the financial sector. MF Global is last, but unbeknownst to others the euro and the EU are in a similar position. They are in the middle of a totally corrupt system. Banks were overexposed 70 to 1. At the beginning of the credit crisis and they are still leveraged by 30 to 1. Worse yet, they lie about their quality of assets. We are looking at a Ponzi scheme of gigantic proportions, which is aided and abetted by the CFTC and the SEC. We started writing about these conditions in 1967 and in the intervening years we have brought on the wrath of government, the SEC and Wall Street for calling them the crooks that they are. We have done this to alert the people to the truth. In years past we worked with Gary Allen, Alan Stang, G. Edward Griffith, Stan Monteith and Anthony Hilder to this end. One sure sign we are being effective is that getting delivery of silver and gold is at times as difficult as it has been in past years. The message is reaching the public worldwide. It could be that the elitists’ plans are being upset and we are very happy about that. What we see is a stage show that even includes bogus statistics. This is the greatest monetary debasement in history.


You do not want to own any currency except for day-to-day living. The rest of your wealth should be in gold and silver coins, bullion and shares. This is why their prices have to be contained via suppression. Government fight’s tooth and nail to keep both from being recognized as safe havens. Do not pay any attention to day-to-day or month-to-month movements when you are long. They mean nothing. This is going to be the biggest bull market in history. If you can be a buyer when corrections by government occur please do so. Do not be tricked out of your positions by scammers, Johnny come lately and chartists, waviest and cyclists. They do not understand what it is all about. A system cannot depend on confidence forever.


Greece and Rome between 500 B.C. and 400 A.D. was the cradle of civilization in the Western world. We were one of the lucky ones to have had 4 years of Latin, the language of Rome. It prepared us for the future by making many other languages easy to master. Learning about the formation of the Roman Empire taught us many things and one of them was coin clipping an art mastered centuries before. The classical education is all but gone like many of the wonderful things of the past. Even education, where someone learns something of value is gone. This happened in the world’s quest to dumb down the populace. We might add we received a 97% for Latin for 4 years. Later was our course of study, but that in no way means Greek had to take a back seat. Greece gave us our laws, republic, democracy and politicians almost all who have been fools and crooks. Not much has changed over the past 2,600 years. We compare what we have seen since 1929 and the advent of Deweyism to what the Colonial Empire builders did for centuries and that is to keep their subject dumb and docile. All we are seeing today is a replay of a long-playing policy. Today it is laced with the art of propaganda and brainwashing. If the people do not understand they cannot be an adversary. Today these tactics make it more difficult to reach the people with the truth. It is all there in the 7 volumes of Gibbon’s “Decline and Fall of the Roman Empire,” which few in our society has ever heard of. If you delve into those pages and into the Greece of antiquity you will find how our society evolved and part of those lessons included the only way to handle debt and default was to purge the system and expunge all debt. Far be it for today’s bankers to execute something so simple today. That is why more and more money and credit is thrown into the system to buy time. When the time runs out the bankers plan and execute another war. As you can see the only way to eliminate unpayable debt is to purge it and renew the system based on gold. It is all that simple, but the bankers cannot allow that because they will lose their power base from which they control us.


The euro and the European Union, an unnatural association, has been a failure. Bankers and their purchased politicians are running hither and yon trying to provide a solution that does not exist. Starting two years ago on radio, TV and in press editorials, we told the Greeks to default, exit the euro, return to the Drachma at 50% of the value of the euro, and over a five year period phase in austerity to avoid future debt. The majority of Greeks want to do this, but surely the bankers do not, because they’ll be irretrievably insolvent. They would rather put Greeks into servitude for the next 50 years and if possible confiscate Greece’s state assets. Now you can understand why the financial structure in Europe, the UK and US are being saved and nothing is being done to save those economies.


European bankers, because they are buried in debt and politicians because they know an election is coming, want the bailout fund with leverage of 5 to 1 if they can get away with it. They also want the European Central Bank to be a lender of last resort. Both would mean major European inflation and endless debt. It never occurred to the people that many governments are unable to service their debt. Thus, usually they end up destroying their currencies. We have been enmeshed in central banks buying government debt in a big way for more than a dozen years. In the final analysis a depression is assured for deliberately corrupting the system.


As we recounted in the last issue, Mrs. Merkel pleaded with the Bundstage to help Greece survive. What she was really saying was save our banks and the euro. Of course, if this failed 60 years of peace would be lost. You would have to be a moron to believe that. That vote will cost at least 1/3 of representatives their jobs in the next election. Voters, 65%, told their representatives not to vote for either measure. The vote was a classic betrayal of the German people and another banker bailout.


As we write gold is trading at $1,770.00 and silver at $34.45. Both are substantially above recent manipulated lows. Every time they are attacked they come back strongly for a number of reasons. It can be seen by an astute observer that problems in the EU have not been solved. The German Constitutional Court decision has to be dealt with. Berlusconi in Italy and Papandreou may soon be out of office. For the past three years gold has assumed the role as an alternative world reserve currency, as inflation roars in many countries. European banking has gone too far this time. The debt created cannot be paid and the only thing governments can do is continue to increase money and credit resulting in higher inflation. At the same time economies receive no relief and unemployment rises. Projections show a much slower economic climate in the year ahead, and again, nothing to help the situation. The only consideration is saving the euro, pound, the US dollar and banking. These players are well aware that if the system goes down their power structure collapses. From our viewpoint there is no ultimate solution until the system is purged. The opposite side to this negative situation is gold and silver and why they must soar in value as a result of these facts. Some say the US dollar is a safe haven. How can that be with guaranteed losses annually in purchasing power of 10? Then it should be no surprise that gold and silver will soon revisit their former highs, and break them. Those of you who are long gold and silver coins, bullion and shares have to be patient. You must not be tempted to trade corrections, because you are not professionals and you will lose or worse not get back into a long-term bull market. All the fraud and crime in financial markets will be reflected in the prices of gold and silver, along with their fundamental values. This cannot be avoided no matter what the elitists do to paint the US dollar as a safe haven. What else would you expect when quantitative easing assists banking and transnational conglomerates and stimulus assist foreign job formation and the result is the gutting of American services and industry. The jobs are gone without tariffs, so what need is there anymore for higher education? The economic heart has been ripped out of America, so why should the dollar remain strong or as a perceived safe haven? The answer of course is that it shouldn’t. That simple lesson has to convince you that the only place to be with investable assets is in gold and silver.


There is now no question that gold and silver are soon headed to new highs. Foreign central banks have been buyers and continue to be so. They were just given another gift by the elitists who recently drove gold and silver prices down to offset what has been going on in Europe over the past month. That game for the moment is over so the pressure on prices will be removed and shorts covered. The reversal process will be very powerful, so hold on or be a buyer.


We are anticipating that Lucas Papademos will be interim PM until elections in February. Go to the European section and get his backgrounder. He is the ultimate sell out of the Greek people. And Papandreou and Samaras are responsible. Greece is about to be sold out big time, unless the public has massive demonstrations. He was with the Bank of Greece in 1985 when this sellout started under Andres Papandreou when he looted the country. He was VP to Trichet in the ECB for 8 years. His crowning achievement is his membership in the Trilateral Commission since 1998 and, of course, he is a Bilderberg.




11/09/11 (3) IF


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