War? If not, then this is how it begins.
CIGA Wolfgang Rech
Has The Land War Begun: Turkish Tanks Are Firing Into Syria
Submitted by Tyler Durden on 07/23/2015 – 12:29
As the following clip from Turkey’s DHA news agency shows, one may wonder if NATO-member Turkey’s land invasion of Syria, which many have said was long overdue following months of rhetoric and belligerent posturing, under the pretext of ISIS "liberation", has just begun.
Update, from the horse’s mouth: Turkey admits 4 tanks entered Syria to use something called a "retaliation right":
@zerohedge to prevent false infos, i must say just 4 tanks get through to use retaliation right.
— Lit.Col.Kenan Winer (@harunayanoglu) July 23, 2015
After Monday’s tragic terrorist attack in the Turkish town of Suruc, just across from the Syrian border and kilometers away from ISIS-controlled Kobani, which left dozens dead in what authorities claim was due to an ISIS-linked 20 yhear old suicide bomber, hostilities have dramatically escalated in the past few days culminating with news that one Turkish soldier killed and one was wounded in border province of Kilis by gunfire from Syria, according to state-run Anadolu Agency reports.
Jim Grant goes bullish on gold!
There are few people I trust in this world. They must be named Jim. Jim Grant is one I put my faith in. The other is you.
CIGA Wolfgang R
“Gold Conjunction of Price, Value and Sentiment and I’m Bullish” – Jim Grant
By Daniela Cambone
Thursday July 23, 2015 13:53
(Kitco News) – Don’t tell Jim Grant, the publisher of Grant’s Interest Rate Observer, that gold is a hedge.
The author and publisher said the metal is much more dynamic; providing a trifecta of price, value and sentiment, and investors should have exposure to it.
“[G]old is an investment in monetary and financial disorder – not a hedge. You look around the world and you see exchange rates are properly disorderly, when you look around the world of lending and borrowing — we are in a regime of price control by another name, so-called zero percent rates and quantitative easing by the world central banks – we are in one of the most radical periods of monetary experimentation in the annals of money,” Grant told Kitco News Thursday.
Grant added that it could be that it all works out, albeit a very “low probability.” “You want to have exposure to the reciprocal asset of the paper assets that are the most popular – so gold, to me, is now the conjunction of price, value and sentiment, and I am very bullish indeed.”
And Martin Armstrong calls this the panic selling week for Gold, yet ignores the blaringly obvious dumping at the same time he insults our intelligence
CIGA JB Slear
The Hunt For The "Mystery" Gold "Bear Raid" Leader Begins
Tyler Durden on 07/23/2015 12:50 -0400
In the immediate aftermath of Sunday night’s massive gold slam, which was oddly reminiscent of the great silver crash of 2011 when on May 1 just around 6:25pm, silver plunged by 15%, from $48 to $42 with no news or catalyst…
… marking the all time high price of silver in the current precious metals cycle (that particular ‘malicious seller’ has never been identified) the promptly arranged narrative was that because the gold crash took place in the span of 30 seconds just before Chinese stocks opened and broke the gold futures market not once but twice, that it has to be a China-based seller with Reuters taking the lead and quickly pointing the finger with an article titled "Gold hits five-year low, under $1,100 on Chinese selling."
Ironically, the very same Reuters last night admitted that it had been wrong and that it was in fact: "New York sell orders in thin trade" that triggered the "Shanghai gold rout":
In early Asian trading hours on Monday, when typically only tens of contracts of gold are traded, investors dumped more than $500 million worth of bullion in New York in four seconds, triggering the market’s biggest rout in years.
The sell-off began when one or more massive sell orders hit the price of gold on the CME Group’s Comex futures in New York a tenth of a second after 9:29 a.m. in Shanghai,triggering turnover of almost 5,000 lots of gold in a blink of an eye. That equates to 13 tonnes of gold, more than typically trades in hours during this time of day, and the selling knocked the price almost $20 to $1,100 per ounce during those four seconds. It marked the first leg of a dramatic 60-second sell-off that saw prices sink more than 4 percent to five-year lows.
And just like that the narrative shifts again: instead of a Chinese seller, the real culprit appears to have been a US-based entity masking as a Chinese trader, around which the media then conveniently built a further goal-seeked "story" in which the Sunday night selling (by a US entity now) was the result of a PBOC announcement that its gold holdings had risen to "only" 1600 tons… however the problem is that all this had been known since Friday morning.
-Our false/massaged BLS reports, such as today’s "wonderful" jobless numbers…..
-Our continual criticizing of Europe, Japan, Australia, and others…..
-Our manipulation of the Silver and Gold Markets which hurt their exporting countries (Mexico and Australia)….
All these things lead to weaker currencies, hurting us by strengthening the Dollar and killing our exports.
It’s almost as if the US wants a stronger Dollar. Yet in the same breath, Yellen fears it may destroy whatever economic recovery we hope to have.
It’s like we’re moving in opposite directions at the same time!
Go ahead Fed, raise rates on top of the country bashing going on. See what happens.
Stronger dollar, Equity declines, Increased US Treasury funding costs, Lower exports, Burden of corporate indebtedness increases, Bond market collapse, etc.
CIGA Wolfgang Rech
Initial Jobless Claims Plunge To Lowest Level In 42 Years
Submitted by Tyler Durden on 07/23/2015 – 08:37
Time for a rate hike?
Initial jobless claims dropped 26,000 to 255k – its lowest since Nov 1973
While July 4th adjustments may indeed be a factor, it appears things have hardly ever been better – according to this data anyway.
Someone accumulating silver?
There’s lots of talk about game changing events in October regarding China (gold holdings and Yuan). Also in the USA in September.
The author may have a point.
CIGA Wolfgang Rech
Someone Is Loading Up On Physical Silver Prior To September
July 22, 2015 / Jeff Berwick
Craig Hemke of the TFMetalsReport wrote an interesting article this week titled, “ EPIC Silver Shortage Imminent? 3.5 M Oz of Silver “Jump the Queue” to Take JULY Delivery!”
We won’t get into the fine details of what he reported here as it gets very technical… but if you are interested you can see his article.
But, to summarize, an unknown party is unexpectedly taking delivery of an unprecedented amount of physical silver this month at the Comex.
According to Hemke, “… the Comex is on pace to deliver an additional 700+ over the course of the month? At 5,000 ounces/contract, that means someone or something has ponied up about $50,000,000 in order to “jump the queue” and take immediate delivery of 3,500,000 ounces of silver this month.”
This large, last minute buy of physical silver at the Comex is interesting for two reasons.
First, it comes with gold and silver prices under heavy pressure and dropping. You would think if the market for silver was this bad people would be looking to divest of physical silver but quite the opposite is happening here.