from FinancialSurvivalNet
Turd Ferguson of TF Metals Report is a new friend we discovered at Freedom Fest 2012 in Las Vegas. Turd’s well connected and has a great understanding of what’s happening behind the scenes in the metals markets. It appears that the cartel’s days are numbered and that the price of gold may soon be finding its true level. This can only be a good thing. Once investors and the public understand the awful state of the fiat currencies, pressure will mount on the politicians, and the possibility of fundamental change will be forced upon the system. Hopefully it happens before the Real Crash comes but don’t count on it.
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Adrian Fleming is a serially successful gold miner, and his latest venture looks to be a repeat performance of his last four winning ventures. The company’s property at Kiyuk Lake, Nunavut, Canada looks extremely promising. Right now he’s planning to do a detailed geo-chemical analysis of the entire 590 kilometer property to find the best potential drill sites. This will conserve the company’s capital, of which there’s enough to finish the program and bring the company well into 2013. As we all know, mining issues have been hammered into the dust recently and pessimism is ruling the day. However, while this market may not be like any other, all bear markets eventually give way to bull markets, especially when profits are rising and great new mines remain scarce.
Dr. Charles Nenner is a legend in technical/cycle investing. David Gurwitz is managing director of Charles Nenner Research, and he joined us today for a look at the current state of the markets. CNR has thousands of clients around the world, and their research calls have shown uncanny degrees of accuracy. Right now, Nenner thinks gold will be going up to $2500 and silver will be heading back up to $50 in the not too distant future. He’s waiting for a few more technical indicators to confirm and make the call. We’re going to be checking in regularly with David and Dr. Nenner to keep track of the accuracy of their predictions.
We had a very unexpected surprise this afternoon; David Morgan called in from the road. He was driving to Montana and wanted to touch base over the latest metals ruminations. His take on the upcoming CFTC Silver Manipulation Report is that it will be a a whitewash and will result in no lasting change. In a recent trip to Hong Kong, David discussed the history of empires and how metals always flow to the rising empire and away from the declining empires. We also discussed a quote from ZeroHedge.com’s Tyler Durden, “While the insolvent “developed world” is furiously fighting over who gets to pay the bill for 30 years of unsustainable debt accumulation and how to pretend that the modern ‘crony capitalist for some and communist for others’ system isn’t one flap of a butterfly’s wings away from full on collapse mode, China is slowly taking over the world’s real assets”.
Nick Barisheff of 
Danielle Park, the outspoken money manager par excellence, sat down with us today for our bi-weekly rant about why they haven’t thrown all the b*stards in jail yet. And it looks like a few of them might be paying the price for Liborgate, which is just another word for large banks stealing your wealth one basis point at a time. Danielle likens the current economy to a giant teeter totter, with no adult supervision in site. The result is that someone’s behind is going to get slammed on the ground, and the other people will be left suspended in mid-air, waiting for the system to right itself. Danielle is always informative, knowledgeable, and directly to the point.
Jay Taylor came on our live show today on 1490 WGCH. Insightful as ever, Jay agrees that there is little that can be done to avert the collapse and that the majority of the population is completely oblivious to the inevitable. Much like in Rome during the collapse, people were far more concerned about gladiator games and Christians being fed to the lions to notice their civilization was quickly coming to an end. Hopefully the current fiat money system’s death will not lead to another Dark Ages, which came out of the Fall of Rome. But society is different now. Most of the world’s population lives in cities and life can’t continue on for long without a medium of exchange. Hopefully reason will prevail before it’s too late.
Bron Suchecki, who’s in charge of strategy for the famed Perth Mint, is warning all precious metals investors that the next crisis will lead to heightened precious metals demand so expect shortages and mint rationing. This is exactly what happened in 2008, and the next crisis could very well be worse. Interestingly, the shortages emerged not from a shortage of raw materials, but due to a lack of fabrication capacity. The blanks or planchets that are required to stamp coins are in limited supply. There aren’t a lot of producers around the world, and they have been knwon to invest large amounts of capital towards ramping up production. This is due to the market’s unpredicatable demand curve and the high costs of expansion. The result is that the distribution system works great in times of regular demand, but it quickly breaks down when demand spikes. Remember, we told you it was coming.
Sprott Global’s Kenton Toews joined us to discuss the major acquisitions taking place in North American as well as global resource stocks. The Chinese oil company CNOOC is buying Canadian oil producer Nexen for over $15 billion. This is a huge premium to current market prices. An Egyptian billionaire just bought La Mancha Resources, a gold miner for $500mm, getting gold in the ground at just $50 per ounce. What do these moves have in common? They are ways for Asians and others holding large amounts of fiat dollars and euros to diversify them, without disrupting the markets. This could be just the beginning; as the currency crises worsen, the rush for the exit will only intensify. So look to stock acquisitions as a relatively easy way to accomplish that task. 
“Ranting” Andy returns with another Monday Rant. Andy says it’s quite obvious the elites are losing control. While they may be able to keep the price of gold suppressed a little while longer, their ability to control the events taking place in Italy, Spain, Greece and the rest of Europe is clearly diminishing, to the point of outright chaos. Therefore, it is more important than ever that you be able to differentiate between reality and perception. The powers that be want you to believe there’s no difference between the two. But as thinking adults, we know this can’t be the truth. Otherwise, your children would be able to create their own reality and choose their own existence. There are very few things that are true and real these days, but at the top of that list are still gold and silver. 
Ty Andros joined us after a several week-long hiatus. Here’s a statement he read from Porter Stansberry. It’s worth your read!
Jeb Handwerger of 
James Corbett of 
We were very fortunate to get together with Ann-Marie Murrell of 
Michael Krieger of 
Ken Johnson of 
Mickey Fulp, The Mercenary Geologist, and I got together for an energy discussion. There’s so much going on in this once conservative moribund industry. The innovations of hydro-fracking and enhanced recovery are leading to an energy self-sufficient America, only 40 years after Nixon’s pledge. Right now, the US domestically produces 55 percent of its energy needs. It’s miraculous that an industry faced with hostile government agencies, green subsidies and general public antipathy towards petroleum exploration and development. Many people believe that the industry has deliberately stifled high mileage vehicles and auto technology, and this could very well be true. However, America’s retaking of energy production leadership is something that no talking head or so-called energy expert ever predicted. All that is necessary to ride this wave to making America great again is political leadership and a commitment to fast-tracking energy infrastructure projects.
Daniel Amerman used to work with Mortgage Backed Securities, before they became a tool of the devil. He believes the government will stop at nothing to steal the populace’s wealth, but there are things that you can do to protect yourself. However, it will become increasingly difficult to do so once things get worse. Daniel believes owning gold and silver is a good option, but there are certain things the government will do to diminish their value. How the end game of this crisis will work out is anyone’s guess, but things are definitely going to change, and you need to examine every possible outcome.
We met up with Gary Johnson, former governor of New Mexico and present Libertarian candidate for President. Gary was a former governor of New Mexico. During his two terms in office, of an overwhelmingly Democrat state, he vetoed 750 bills and exercised thousands of line item vetos. He was so effective that his opposition referred to him as Governor Veto. He ran for the Republican nomination this year, but he was kept out of the early debates by CNN and CNBC rules, which were created to keep out minor candidates. As a result, he never attained the status of serious candidate as far as the Main Stream Media was concerned. While his odds of winning the nomination are virtually non-existent, his message is compelling, and he has provided a road map for other fiscally sane candidates to shake things up.
Wayne Allyn Root, former Libertarian VP candidate, renowned Las Vegas odds maker, successful businessman, SOB (son of a butcher), and fellow Westchesterite and I met up in person Freedom Fest in Las Vegas. While he’s not head-over-heals in love with Romney (who is?), he still believes that the choice is between business and anti-business, and that’s why he’s favoring Romney. Business without risk, is like religion without Hell. If the government removes all possible risks from your life, will you be a better person or a lazier one? Wayne believes that risk taking is in the American DNA, and it’s a prime reason for our country’s success. This is why Wayne never misses a Freedom Fest.
“Ranting” Andy Hoffman arrived back from Freedom Fest in Las Vegas ready for “bear.” There’s a new phenomena sweeping the globe, negative interest rates. Hard to believe, but that’s where some bankrupt, “Too Big To Fail Bank” actually charges you for the honor of storing your money and betting it on derivatives (or some other highly creative way they’ve devised to lose your money and get bailed out yet again.) It’s obvious there’s no end to the financial sector insanity that’s been taking place around the globe. Where it will end is anyone’s guess. But nothing makes sense anymore and that’s exactly the way the Elite financial rulers like it.
I interviewed Jeff Berwick and Gary Gibson at Freedom Fest, separately, although you’d think they were together. We spent a lot of time together, and there was no shortage of topics and alternative financial luminaries present at the conference. Peter Schiff, Doug Casey, Steve Forbes, Gary Johnson, Judge Andrew Napolitano and so many more. But Gary and Jeff are all about practical advice about protecting your wealth and keeping it out of the hands of the government. Jeff’s a big proponent of second passports, and Gary’s been travelling around the world looking for safe harbor. Either way, they both agree the US Government’s appetite for your wealth is going to increase greatly, as the depression deepens. So better to be prepared than to continue about your daily affairs, blind to the probabilities ahead.
At Freedom Fest 2012 we bumped into Andy Schectman, a show sponsor and President of Miles Franklin. He’s been selling shiny metals since 1990, and he’s extremely knowledgeable about the precious metals markets. Andy explained there’s virtually no gold coming into the secondary market. People who own gold and silver are not selling even when prices dip. This is a relatively new development which shows that while the price may fluctuate , the actual participants ignore the news and continue to accumulate. The mints don’t have enormous supplies available for purchase; they can hardly keep up with demand. That’s why putting off the purchase of metals could have you entering the market at the worst possible moment. Contact Miles Franklin, they’ve also got great overseas storage programs available.
We literally bumped into Trace Mayer of www.HowToVanish.com and www.RunToGold.com. He made it to Vegas for Freedom Fest. We discussed a very interesting new phenomena that may possibly become the new gold standard of currencies, BitCoin. This is an open source currency that is extremely flexible, resistant to inflation and completely anonymous. It is a store of wealth and a medium of exchange and its popularity appears to be rapidly increasing. We had heard of it before, but dismissed it as a noble effort to help people escape the tyranny of central banks. But it has continued on and increased in value from 5 cents per BitCoin to $7.70 in just a few short years. And its acceptance appears to be increasing as well. It’s spreading worldwide, with more and more merchants accepting it as payment, at a variety of locations. We’re going to investigate the BitCoin phenomena further and report back.
We caught up with our old friend Peter Schiff at Freedom Fest. While he was on a panel, security was sicked on Doug Casey for smoking a cigar (Cubano of course) while participating on stage. Freedom took a major hit when Doug was forced to extinguish his rich stogie. But as Doug said, he was on someone else’s property, so he had to comply with the management’s wishes. I want to know who the Buzzkill was that turned him in.