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With all that is going on in this nation at the present time, my efforts are going into our daily broadcasts. Please tune in when possible – we’ll cover most important information during the regularly scheduled broadcasts.

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Life, Liberty & All That Jazz may be heard at 1:00 p.m. (Eastern Time) for TWO-HOURS, each Monday through Friday on The Micro Effect.

Protecting Your Wealth may also be heard on Tuesday and Thursday evenings on the Republic Broadcasting Network at 8:00 p.m. (Eastern Time) for ONE-HOUR, as permanent guest host for John Stadtmillers’ National Intel Report where we cover Economic issues and how they will affect your future and represent RBN as their official representative for the trading in all things of a precious metals nature.

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The Federal Reserve Is Destroying America

…and wait until you hear what they’re getting away with now!

Perhaps I should start with a disclaimer of sorts. Yes, I realize that the people working at the Federal Reserve, as well as the other central banks around the world, are just people. Like the rest of us, they have egos, fears, worries, hopes, and dreams. I’m sure pretty much all of them go home each night believing they are basically good and caring individuals, doing important work.

But they’re destroying America. They might have good intentions, but they are working with bad models. Ones that lead to truly horrible outcomes.

One of the chief failings of central banks is that they are slaves to an impossible idea; the notion that humans are free to pursue perpetual exponential economic growth on a finite planet. To be more specific: central banks are actually in the business of promoting perpetual exponential growth of debt. Continue reading

August 15, 1971: Inflation Unleashed

The general public, the media and most financial observers were largely unaware of the momentous event that took place on August 15, 1971. However, the implications of that event have had an enormous impact on global financial conditions ever since. On that date, US President Richard Nixon “closed the gold window”. In essence, this meant the US would no longer honour the Bretton Woods Agreement of 1944, which made the US dollar the world’s reserve currency, and allowed other countries to convert their US-dollar holdings into gold. In simple terms, the US defaulted. Those who may have glanced at the announcement buried within the pages of their daily newspaper were unlikely to have understood the implications for their financial future. Continue reading

Dateline: August 15, 2017


Margin Debt Sets New Peaks: Warning Sign
According to the latest data from the New York Stock Exchange, margin debt has hit new peaks four times this year, starting with a new record of $513 billion in January; $528 billion in February; $536.9 billion in March; and reaching a whopping $549 billion in April. The most recent reading for June shows a decline to $539 billion – but that is still an increase of 64 percent from the margin level of January 2008, the year of the epic financial crash on Wall Street.

Spiraling margin debt, where investors pledge securities at their brokerage firm to obtain a loan, typically to buy more securities, is frequently associated with stock market crashes… (Continue to full article)

JC Penney Becomes a Penny Stock
But JC Penney is not alone. Other mall anchor tenants such as Sears and Macy’s have plummeted over the past two years as Amazon’s on-line grip takes further hold. I included car rental giant Hertz (blue line) for comparison. They are all a pale image of their former selves in terms of earnings and stock price. A Penney for your thoughts??? (Continue to full article)

LIBOR Is a Fictitious Fraud and What That Means
The casual news reader will see the term “LIBOR” and assume this is just a postgame wrapup to the LIBOR scandal of a few years back, in which may of the world’s biggest banks were caught manipulating interest rates. It isn’t. This is a new story, featuring twin bombshells from a leading regulator – one about our past, the other our future. To wit… (Continue to full article)

Another Wells Fargo Customer Abuse Scandal Coming
Once again… circle the wagons and defend yourselves – the boys in the black hats are coming for your pocket-books… (Continue to full article)

We’ll Meet Again

“Many people think of our times as being the last before the end of the world. The evidence of horror all around us makes this seem possible.

But isn’t that an idea of only minor importance? Doesn’t every human being, no matter which era he lives in, always have to reckon with being accountable to God at any moment? Can I know whether I’ll be alive tomorrow morning?

A bomb could destroy all of us tonight. And then my guilt would not be one bit less than if I perished together with the earth and the stars.” ~ Sophie Scholl, Munich, 1942

Gold Set To Rise While Debt-Based Assets Collapse
I have shown how economic conditions, today, appear very similar to that of the early 80s (circa 1983). These similar conditions show up on the long-term gold and Dow charts, as shown in that article.Now, if those similarities continue, then the Dow will continue much higher from this point on, while gold will go into a long-term… (Continue to full article)

British Treasure Hunters Discover Nazi Shipwreck Loaded With Gold Worth £100 Million
SS Minden set sail from Banco Germanico in Brazil to Germany, when it sank 120 miles southeast of Iceland on September 24, 1939, shortly after World War II began. When word got to Fuhrer Adolf Hitler that two British cruisers had spotted the ship carrying the treasure, he ordered the captain of the SS Minden to sink the ship in order to avoid the British seizing the precious metal… (Continue to full article)

Cryptocurrencies – The Next Level of Power and Control Developed by The NSA
In November 2013 we learned that bitcoin was built on technology the NSA had developed. The original source was deleted from an interview conducted that month and, unfortunately, is now lost to history – it doesn’t change the facts. Now we learn that information was 100% spot on correct. The NSA developed blockchain technology and released the information in a white paper that has been uncovered by Ken Schortgen, Jr., The Daily Economist. This confirms what has been reported by very few people… Continue to full article

The Risk That’s Growing Once Again in the Housing Market
Homebuyers are increasingly opting to put less money down when purchasing their homes, increasing their risk should the housing market, and specifically home prices, falter yet again. When home prices crashed in the last decade, millions of borrowers fell underwater on their home loans, prompting a foreclosure crisis of epic proportions. It all begs the question, could it happen again?… (Continue to full article)

Should Gold Be Legal Tender? Behind the Push to Revive an Ancient Standard
By the end of the year, Texas plans to open the nation’s first state-supervised gold and silver depository, allowing ordinary Texans, as well as businesses, banks and others, to store their precious… (Continue to full article)

A Direct Comparison Between Gold, Silver, Platinum and Copper
Here’s an updated analysis of physical gold, silver, platinum and copper regarding their respective versatility of use, durability, fungibility, store of value, liquidity and aesthetics… (Continue to full article)

Used Car Prices Crash To Lowest Level Since 2009 Amid Glut Of Off-Lease Supply
The U.S. auto market is at an interesting crossroads with used car prices crashing to new lows every month while new car prices continue to defy gravity courtesy of a somewhat ‘frothy’, if not suicidal, lending market that has seemingly decided that anyone with a pulse is financially qualified for a $0 down, 0% interest, 80 month loan on a brand new $40,000 luxury vehicle of their choice… (Continue to full article)

Life, Liberty & All That Jazz is now heard at 1:00 p.m. (Eastern Time) for TWO-HOURS, each Monday through Friday on The Micro Effect.

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Kettle Moraine, Ltd.
P.O. Box 579
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Tax Reduction and Simplification — How to Defeat the Demos

“You can’t be for big government, big taxes and big bureaucracy and still be for the little guy.” ~ Ronald Reagan

“An unlimited power to tax involves, necessarily, a power to destroy; because there is a limit beyond which no institution and no property can bear taxation.” ~ John Marshall (1819)

The regulatory cuts ordered by President Donald Trump are already saving consumers billions of dollars. His next objective is tax cuts.

After deliberating about “tax reform” for the last six months, the GOP’s congressional leaders announced last week that they had reached broad agreement with the Trump administration on common principles and goals for tax reform measures that they aim to implement by year’s end.

Of course, Democrats quickly responded with a letter to Trump ostensibly expressing their “interest in working with [the GOP] on bipartisan tax reform,” but playing their class-warfare card: “Tax reform cannot be a cover story for delivering tax cuts to the wealthiest.”
Continue reading

Does The Vatican Hold A Mortmain – Mortgage Over “Your” Nation State

~ Forewards ~
Since the early 70s I have had an avid interest in financial carrying-ons of “big money” around the world. Periodically, you hear mention of various organizations, many of whom have three initials for a name, who have all the power and control the world. Only some of this is BS. Unfortunately, this is a train of financial command that goes back to the days of Nebuchadnezzar in Babylon. Truly if you control a nation’s money through a stranglehold on loans and interest rates then as long as you are out of the physical arm’s reach of the king or other leaders you are the one in power. ~ J. Pickelsimer

The Fed gets its orders from the Queen Mum of All Banks, the Bank of England – aka, the Bank of Rothschild.

Considered by many to be the world’s most powerful institution – the power behind all presidencies, dictatorships and thrones – does the Bank of England answer to any other bank? Well, yes, actually. The Bank of Rome began opening branch offices in Venice in 1587. Bank of Rome = Vatican Bank controlled by the Jesuit General, aka the “Black” (hidden, shadowy) Pope. The Jesuit’s Bank of Rome opened its Bank of England branch in 1694. Continue reading

Does the Fed Really Have 6,200 Tons of Gold in a Manhattan Vault?

With limited inventory information available, skeptics abound.

In the James Bond movie Goldfinger, the title villain targets the gold reserves at Fort Knox. Maybe he should’ve had his sights set on the Big Apple.

According to the Wall Street Journal, the Federal Reserve vault, which lies 80 feet below 33 Liberty Street in Lower Manhattan and is further protected by armed guards, contains 6,200 tons of gold worth between $240 billion and $260 billion. (Goldfinger wouldn’t have had any issue keeping Pussy Galore on his side with that type of haul.)

But skeptics abound, given the little inventory information available about the vault’s contents—and the overall lack of information the Fed itself has released about it. Said former Fed chairman Alan Greenspan to the Journal: “When you deposit your funds in a bank, should that bank make your account balances available to whomever asks?Continue reading

What You Always Wanted To Know About Gold*

The following is a transcript of an interview requested by a gold-friendly hedge fund.

Question: Professor Fekete, you are known as a staunch advocate of a return to the gold standard. But mainstream economists are saying a gold standard is not practicable and they are fighting the idea with everything they have. How do you answer their criticism?

Prof. Antal E. Fekete

Answer: To say that the gold standard is not practicable is the same to say that honesty is not practicable, and Constitutions are made to be blithely ignored when convenient. The American Constitution, for example, mandates a metallic monetary standard for the United States in the clearest possible language. Opponents of the gold standard have never been able to muster up the moral fortitude to amend the Constitution so as to formalize the abolishing of the gold standard. Yet in 1933 president Roosevelt confiscated the gold of the citizens, gave them irredeemable paper in exchange, and proceeded to write up the value of gold in terms of the paper by 75 per cent. Might makes right: if you cannot do it fairly and legally, then you can use the strong arm of the government to do it through chicanery, backed by the constabulary and the jail cell. Continue reading

With Two Potential Crises, Buy Gold In Case “Things Go Badly

It’s been a while, years in fact, but suddenly it’s gold’s time to shine again.

Gold: A primary building block of the “cockroach” portfolio. AFP/Getty Images

The yellow metal – insurance against systemic collapse, hyperinflation and infinite political stupidity – which in recent years has seen its popularity fade as the younger generation has gravitated toward the far faster moving crypto currencies – is once again back in the spotlight.

As UBS’ strategist Joni Teves, who has been recommending the precious metal for a long time despite the BOJ’s relentless suppression, writes “gold bounces from recent lows in line with other safe havens amid risk-off sentiment across markets following geopolitical headlines over the past 24 hours.” Below are the key considerations from today’s UBS note: Continue reading

Dateline: August 10, 2017


Consumers Are Being Gouged On Credit Card Debt
The 14 percent average rate blurs the fact that many consumers are being charged in excess of 20 percent on their credit cards. In a Town Hall speech in New York City on January 5, 2016, Senator Bernie Sanders had this to say about needed reforms to rein in Wall Street abuses… (Continue to full article)

The Private Digital Currency Bubble Keeps Growing
The cautionary words of American regulators have done little to chill a red-hot market for new virtual currencies sold by start-ups. The Securities and Exchange Commission late last month issued its first warning for the many entrepreneurs who have been raising money by creating and selling their own virtual currencies in what are called initial coin offerings… (Continue to full article)

7 billionaires are worried about a stock-market correction
Jeff Gundlach, Carl Icahn, Howard Marks, Warren Buffett, George Soros, David Tepper and Paul Singer… (Continue to full article)

A Flat Tax Is Not More “Efficient” Than a Tax System with Loopholes
If we want taxpayers to be more efficient, we should be giving them more tax loopholes. Closing loopholes has the opposite effect… (Continue to full article)

Gold is the Answer to Economic Woes
What’s an individual investor to do to make sure that his investments will not be completely wiped out in the coming financial Armageddon? Gold is the answer… (Continue to full article)

Why You Should Own Some Silver – As Well As Gold
Silver is extremely volatile and tends to rise or fall in spurts so I’d like to focus on its attributes as gold-silver compared to gold, make a case for holding some, and discuss some ultimate price possibilities… (Continue to full article)

How High Will Silver Prices Go? $100, $300, $500?
Silver prices have risen exponentially for the past 90 years as the dollar has been consistently devalued. Expect continued silver price rises…… (Continue to full article)

5 Red Flags of Imminent Economic Collapse
These 5 red flags will give you anywhere from a few days to a few months of warning that things are about to change drastically…and well before those around you grasp the full extent of what is going on. This is hopefully a scenario that never happens as this will truly be the end of the world as you knew it… (Continue to full article)

Silver Investment: Outperformed Gold In This Major Sector
Precious metals investors may not be aware, but silver investment has seriously outperformed gold in this major market sector. Even though precious metals sentiment and sales are currently lower than they were over the past several years, this is only temporary pause before the market surges as the highly inflated stock market finally cracks and plunges lower… (Continue to full article)

This $5 Trillion Time Bomb Will Devastate Americans
In a recent poll, 47% of people in Illinois said they want to leave the state. Over the last decade, more than half a million people have done just that. This is the largest outflow of people from any state in the country. The people who leave are generally better educated, more skilled, and earn more money than those who stay. Entire towns of affluent Illinois refugees have sprouted up in Florida, Arizona, and other states. Illinois is bleeding productive people… (Continue to full article)

Life, Liberty & All That Jazz is now heard at 1:00 p.m. (Eastern Time) for TWO-HOURS, each Monday through Friday on The Micro Effect.

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Kettle Moraine, Ltd.
P.O. Box 579
Litchfield Park, AZ 85340

Loose End Chronicles: August 8, 2017


Corporate Media Mourns the Loss of the TPP
If other countries remove barriers between them, this could make some of their goods better positioned relative to U.S. exports, but it can also lead to more rapid growth in these countries, which will increase demand for U.S. exports… (Continue to full article)

The Volcker Rule and the London Whale
In the end, the London Whale disaster reflected the mis-marking of generic Index CDS trades, which then-CFO Doug Braunstein ignored. The problem was not complex risk modeling or market risk measurement. The quants tried to re-jigger VaR measurement of the trades, to avoid breaching risk limits… (Continue to full article)

Federal Bank Regulator Drops a Bombshell as Corporate Media Snoozes
Last Monday, Thomas Hoenig, the Vice Chairman of the Federal Deposit Insurance Corporation (FDIC), sent a stunning letter to the Chair and Ranking Member of the U.S. Senate Banking Committee. The letter contained information that should have become front page news at every business wire service and the leading business newspapers. But… (Continue to full article)

No Recovery, The Great Recession Continues
The dramatic nature of the current output trend (post-2007) departure from the past historical trend is highlighted by the fact that pre-crisis models for forecasting growth have produced massive misses compared to actual outrun and that over time, as new trend establishes more firmly in the data, the models are slowly catching up with the reality… (Continue to full article)

State and Local Pension Funds Big Miss On Returns
…then we have the underfunded pension funds of American, both private and public. Public pension funds earned a dismal 0.6% in 2016t… (Continue to full article)

Utah Mayor Suffers “Shocking Experience” After Going Undercover As Homeless Man
Back in March, just days before he was due by state law to select a third site for a new homeless resource center – a decision he knew would anger thousands of his constituents, regardless of his choice – McAdams left work on a Friday with no money or ID and walked to Salt Lake City’s most troubled neighborhood… (Continue to full article)

Should you sell all of your gold and silver to go “All-In” on Bitcoin and Ethereum?
Like gold and silver, crypto-currencies offer a store of value, anonymity, and portability across borders – or do they… (Continue to full article)

The Crime Against Silver
The Republican Party was against Free Silver, the party’s position being that the best way to national prosperity was “sound money.” Republicans favored a continued strong dollar, which rewarded savers and creditors… (Continue to full article)

August 8, 1893: The Repeal of the Silver Act
This law provides that in payment for the 4,500,000 ounces of silver bullion which the Secretary of the Treasury is commanded to purchase monthly there shall be issued Treasury notes redeemable on demand in gold or silver coin, at the discretion of the Secretary of the Treasury, and that said notes may be reissued. It is, however, declared in the act to be… (Continue to full article)

Silver Prices – The Rise and Fall of the Specs With No Clothes
The mainstream financial media, as well as some retail investors, have awakened to the surge in the price of silver, relative to just about everything else in 2016… (Continue to full article)

Life, Liberty & All That Jazz is on the air LIVE at 1:00 p.m. (Eastern Time) for TWO-HOURS, each Monday through Friday on The Micro Effect.

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Kettle Moraine, Ltd.
P.O. Box 579
Litchfield Park, AZ 85340

The Madness Is Back: Homeowners Take Out Mortgages To Buy Bitcoin, Cars And Wine

It’s been about a decade since the term “mortgage arbitrage” made headlines. It’s back.

In the clearest sign yet of just how late far the investing cycle the developed world finds itself, the FT writes that wealthy British homeowners are again borrowing against their property to invest in bonds, equities, alternative investments or commercial property as the low cost of debt creates opportunities for “mortgage arbitrage”. And while taking out a mortgage to invest in “safer” arbs like corporate bonds, commercial real estate or private equity would be at least understandable, if not excusable, in the current low-yield regime, some more extreme “investment” decisions suggest that the madness and euphoria that marked the peak of the last asset bubble is back: because while growing numbers are prepared to risk using their primary residence as collateral, some are ready to gamble on extremely volatile assets like bitcoin, wine and cars. Continue reading

Survey Finds Baby Boomers Are Roughly $30 Trillion Short On Retirement Savings

There are roughly 76 million Baby Boomers in the United States that are about to transition out of the highest wage earning years of their lives and into retirement where they’ll be making precisely nothing. Unfortunately, as MarketWatch points out today, those Baby Boomers are woefully unprepared for what awaits them. Continue reading

What if you were told…

You have 78 days left to spend your old (£1) coins

BRISTOL, ENGLAND – JANUARY 16: In this photo illustration, Pound Sterling coins and notes are seen on January 16, 2017 in Bristol, England. Sterling has dropped sharply following reports that British Prime Minister Theresa May is to announce that the UK is planning a so-called ‘hard’ exit from the European Union. According to the exchange firm Travelex, UK travellers buying US Dollars are now getting the lowest rates since 1986, being offered just $1.17 for every pound. (Photo Illustration by Matt Cardy/Getty Images)

People are being urged to dig out their old coins before the legal tender status ends – as the new pound becomes more common.

If you are one of those people who like to collect their loose change in a jar then this news could be very important to you. Continue reading