Big Metal News Items and New Orleans Investment Conference 2010

I attended the New Orleans Investors Conference Oct. 26-Oct. 30 and there were some very important highlights that I would like to share with you:

During a workshop with GATA’s Bill Murphy, Chris Powell and Adrian Douglas, Adrian gave a compelling presentation on the manipulated gold market. He used the data from 3 articles he has recently written, to draw the following conclusion: The Gold Market is not “Fixed”, it’s Rigged. Here is one of the articles written by Cambridge educated Adrian Douglas who is a 20 year Schlumberger oil and gas industry veteran . I promise you that you won’t look at the gold market the same way again after reading this compelling argument:
https://marketforceanalysis.com/articles/latest_article_081310.html

Adrian asserted that if you own unallocated bullion, the custodian likely only has 2.3% of what you own on-hand, and opportunity to get your investment to be transferred to 100% allocated bullion is closing rapidly. Because there is strong indication that the long term suppression of the gold market could be ending, and the rise of a suppressed market can be very rapid when the schemes like this unravel, take heed as there is a true “gold rush” fast approaching that we can truly benefit from. I stress to anyone reading this right now to re-examine any investments in unallocated metal, and begin researching fully allocated bullion custodians like Anglo Far East Bullion Company.
Eric Sprott of Sprott Asset Management, gave an amazing speech on how the reported global silver supply is grossly overstated and that their demand numbers have been too low. Eric mentioned that in one year, Sprott bought more silver than GFMS has accounted for for their investment global demand number for that year. Sprott has been very bullish on Silver and has acted accordingly for the last decade and has gotten all the big moves right. Eric told everyone that GATA has been right for the last 10 years and gave special kudos to Adrian Douglas, Director of GATA for his extraordinary work and articles of late. Eric finally laid out how he thinks that silver will be making an upward move to $50 in the next 4 to 5 months. Eric has raised $500 million for a physical silver trust that will be listed in both Toronto and New York. Go here for more on that.

Shortly before the conference, Bart Chilton of the CFTC went on record mentioning that the precious metals markets, particularly silver have been manipulated. This is a precedent moment as Bart Chilton is a US Government Official and GATA has not had anyone in power officially admit to the rigged market until now. Bart Chilton's statement can found here:

As well, since Oct. 27, 2010, there has been 3 class action suits filed against JP Morgan Chase for the manipulation of the market. Since then, there has been a rally in the gold silver market coinciding with these law suits. Spot price of Gold/Silver on Oct 27: 1324.50 / 23.77 and the spot price today, Nov. 5, 2010: 1394.10 / 26.76. There really is no other explanation other than these lawsuits that introduced even more speculation and intrigue into an already incredibly bullish market.

Lawsuit articles:
1) Morgan, HSBC sued over silver price suppression.
2) Silver class action invokes RICO against Morgan, HSBC.
3) Kaplan Fox Sues JP Morgan and HSBC on Behalf of Investors for Silver Futures and Options Contract Losses Caused by Market Manipulation

I had the opportunity to personally interview Bill Murphy, Chairman of GATA and Peter Schiff, President of Euro Pacific Capital over the course of the conference. Here are the videos:




By Kirsty Hogg
YOUnique Gold Tribe Memberhttp://www.fundsingold.com/
Goldvestments Copyright © 2010

The Eve of Destruction?

Well it’s been 2 years since the whole notion of the importance of acquiring inflation proof assets entered my world, and let me tell you, it couldn't have happened at a more opportune time. I sat wide-eyed as I watched the whole Fanny Mae and Freddy Mac saga unfold before my eyes. This was what the likes of Richard Martin, Peter Schiff and Marc Faber had been predicting for months, and I had just finished taking it all in when it hit the mainstream media. I was on the phone with a friend when the news feeds hit the net. We could not believe our ears. “Is this it?”, I thought, “is this the beginning of the end of life as we know it?”

Then the ensuing images of regular families who so ill-advisedly “bit off more than they could chew” ending up in homeless shelters, motels, parking lots, or “tent cities” were unbearable. And to watch the audacity of the media as they blamed the families for purchasing something they couldn't afford, all the while, begging for a bail out for Fanny and Freddie; the culprits who caused the crisis to begin with.

Well it turns out that that the sky was not falling that day, but it was definitely a warning shot. With the Federal Reserve continuing to print money into existence, and the Federal debt growing exponentially, the foundation of this 100 year experiment called “non-gold backed, fiat currency” has been eroded and the economy is definitely on its slow decent into hyper-inflation.

Many seem to argue that things are turning around, the economy is getting better. We are told to cheerfully continue buying stocks and watch the stock market “rally”. But common sense simply dictates to take a look around you. What are we actually seeing in our lives today? Increased unemployment, record inflation, increased homelessness and the existence of “modern day shanty towns” N.America.

Can we rely on the government to rebalance the economy? As Chris Martenson so succinctly described it in the “Crash Course”, he states we are now in a situation with an outcome, and it is just a matter of how we are going to handle the “outcome”. What are some things we can do to lessen the blow of the outcome?

More and more it makes sense to store your wealth in something that is inflation proof. I for one will be buying gold and silver in a variety of forms.

Kirsty Hogg
http://www.goldvesting.com/
http://www.fundsingold.com/
http://www.goldvestments.com/