Indians Buying Silver
According to Eric Sprott, India imported 1,900 tons of silver in the last five months last year. So far, this year, they have imported 2400 tons which is roughly 10% of the 25,000 tons of silver globally annually mined. So, Indians are definitely positioning themselves with both physical gold and silver nicely.
Central Banks sell record sums of U.S. debt
Holdings of U.S. Treasuries held at the Fed, on behalf of official foreign institutions, dropped a record 32.4 billion dollars to 2.93 trillion dollars last week. Over the past five weeks emerging market debt and equity fund outflows have totaled 35 billion dollars. Fund managers stress that the Fed is still buying billions of dollars worth of bonds as they continue to monetize the U.S. debt.
300 Trillion Dollar Losses
According to Egon von Greyerz, the derivatives market has had 300 trillion dollars in losses that is being kept from the public. In the same way Goldman Sachs helped Greece hide the real truth of their economy by derivatives positions, we find that Italy did the same thing. A major part of the over one quadrillion dollars of derivatives currently held in the financial world is worthless. In terms of gold, the gold price is below the price of production; thus, look for production to drop. He goes on to say to expect for the price of gold to turn higher no later than mid-July.
Immigration Bill Dead In House
John Boehner has stated unequivocally that the House will not take up and vote on the Immigration Bill that passed the Senate. Instead, the House will hopefully craft its own bill that puts real border security first and the Senate’s pork and amnesty dead last.
CFTC Sues Corzine
Because the MF Global collapse in October 2011, which was a successful test to steal people’s secured accounts, was so public, the CFTC, to have a resemblance of being relevant, finally had wake up and do something. One can be assured that lawyers for the CFTC will make an intentional err… accidental legal mistake and Corzine’s case will be “vaporized.”
NFL Says No to Obamacare
Despite being a shakedown victim to help promote Obamacare, an NFL spokesman stated that the NFL will not promote it. Guess someone figured out they would lose half their viewership because more than half of Americans oppose the this socialist medical scheme.
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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