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Gold Swiss Franc Proposed; Would End Fractional Reserve Banking

Posted on Aug 10, 2011 in Economic News – Kevin Hayden

Source: Forbes via

Now, in Switzerland, efforts are underway to create an official Gold Swiss franc (GSF) with a set of coins, each with a fixed content of gold. The proposed constitutional change would permit private institutions to issue an unlimited number of coins whose appearance, content and weight of gold, and definition would be under the supervision of the Swiss government.

Hayden’s Note:

Brilliant.  As stated over at Cryptogon, I’m not real savvy on the idea of allowing credit to be issued, but overall, I think this would be a great move for everyone. 

For example, the smallest coin would have a face value of 1 GSF and have 0.1 grams of gold in its center, similar to today’s bi-metallic euro coins, and be worth—at today’s price of gold, about $4.00.

Five, 10, 20 and 50 GSF coins would have 0.5, 1.0, 2.0 and 5.0 grams of gold and today would be worth approximately $20, $40, $80 and $200 respectively. Gold Swiss franc bank notes are conceivable, as are GSF bank deposits, but they would have to be 100% backed by gold held by the issuing institution....

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Gold Hits Record After Fed and White House Unleash Economic Terrorism – Hayden’s Note

Posted on Jul 14, 2011 in Economic News, Featured Articles – Kevin Hayden

Source: Bloomberg

Gold advanced to records in London and New York as concern about more U.S. economic stimulus and debt woes in the country and Europe boosted demand for the metal as a protection of wealth.

The dollar fell against six major currencies after Federal Reserve Chairman Ben S. Bernanke said the central bank is prepared to take additional action, including buying more government bonds (from Goldman Sachs at a higher price than if buying from the Treasury Dept!), to boost the economy. Moody’s Investors Service said the U.S. may lose the Aaa credit rating it’s held since 1917, while Fitch Ratings slashed Greece’s rating and said that a default is a “real possibility.”

Hayden’s Note:

The Dollar ALWAYS seems to fall after Bernanke opens his mouth.  But in regards to this “debt default” nonsense, I have to offer a few words.  The Treasury and White House Administration are trying to scare Americans into thinking this “default” would be bad for America, that SS checks won’t go out the day after and that Moody’s is going to downgrade our credit.  ...

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Trading of Over the Counter Gold and Silver to be Illegal July 15 Thanks to Dodd-Frank Act Thumbnail

Trading of Over the Counter Gold and Silver to be Illegal July 15 Thanks to Dodd-Frank Act

Posted on Jun 20, 2011 in Economic News – Kevin Hayden

Source: Zero Hedge

One small step toward Executive Order 6102 part 2, and one giant leap for corruptcongressmankind.

From: <>
Date: Fri, Jun 17, 2011 at 6:11 PM
Subject: Important Account Notice Re: Metals Trading
To: xxx

Important Account Notice Re: Metals Trading

We wanted to make you aware of some upcoming changes to’s product offering. As a result of the Dodd-Frank Act enacted by US Congress, a new regulation prohibiting US residents from trading over the counter precious metals, including gold and silver, will go into effect on Friday, July 15, 2011.

In conjunction with this new regulation, must discontinue metals trading for US residents on Friday, July 15, 2011 at the close of trading at 5pm ET. As a result, all open metals positions must be closed by July 15, 2011 at 5pm ET.

We encourage you to wind down your trading activity in these products over the next month in anticipation of the new rule, as any open XAU or XAG positions that remain open prior to July 15, 2011 at approximately 5:00 pm ET will be automatically liquidated.


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China Prepares to Launch Gold ETFs as Utah Becomes First State to Make Gold and Silver Legal Tender

Posted on May 23, 2011 in Economic News – Kevin Hayden

Source: Zero Hedge

Following Friday’s news that China has now surpassed India as the world’s largest buyer of gold, it is becoming increasingly obvious that the country is trying to capitalize on the popular interest in the precious metal by transferring the trading infrastructure away from US to domestic capital markets. First, it recently launched a 1 kilo gold futures contract on the HK Merc in an obvious attempt to undermine the Comex monopoly in the space, and next it seems that China has the GLD plain in its sights, as it plans to start exchange-traded funds, tapping rising demand in China, the world’s biggest investment market for the precious metal. Often blamed for the recent volatility in the price of gold, precious metal ETFs have been primarily an instrument available to those with access to the US market. That appears to be ending, and with an entire nation suffering from gold fever (as inflation continues to be goalseeked by the China politburo above expectations in what appears to be a programmed attempt by the Chinese central planners to push its population into gold hoarding) and about to be offered a simple way of investing in (paper) gold, it is likely that the price of gold (and soon thereafter all other commodities) will see unprecedented spikes in price in either direction as millions more are given direct exposure to trading the non-dilutable currency equivalent.


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JP Morgan’s Hunt for Gold and Resources in Afghanistan

Posted on May 19, 2011 in Police, Military, & War – Kevin Hayden

Source: Cryptogon

Ultimately, victory will mean that Afghanistan becomes pacified in a manner that facilities effortless corporate rape. The purpose of the U.S. military is to tie the victim down. Then, the people in the suits step into the room… J.P. Morgan bankers, who just happen to be former British SAS members, are working with the U.S. military and its puppet Afghan regime to set up mining operations throughout Afghanistan.

If any article belongs at the top of your Must Read pile, this is it.

Via: Fortune/CNN:

To Hannam, chairman of J.P. Morgan Capital Markets, Afghanistan represents a gigantic, untapped opportunity — one of the last great natural-resource frontiers. Landlocked and pinioned by imperial invaders, Afghanistan has been cursed by its geography for thousands of years. Now, for the first time, Hannam believes, that geography could be an asset. The two most resource-starved nations on the planet, China and India, sit next door to Afghanistan, where, according to Pentagon estimates, minerals worth nearly $1 trillion lie buried. True, there is a war under way. And it’s unclear how the death of Osama bin Laden will impact the country’s political and economic environment....

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Today’s Mini Silver Flash Crash: Same Time, Same Place Thumbnail

Today’s Mini Silver Flash Crash: Same Time, Same Place

Posted on May 03, 2011 in Economic News – Kevin Hayden

Source: Zero Hedge

Just like yesterday and the day before, 6:30pm is now the official precious metal “bang the afterhours” launch time. As we predicted minutes ago, silver just got taken to the cleaners on what is now an apparent attempt to push silver around in the no volume part of after hours trading, in the 6-7 pm no man’s land. We expect an imminent rebound after this latest attempt to trigger stop losses, probably those around $40, fails. If it succeeds in pushing silver below $40 it is very possible that the metal can promptly trade down to the mid $30s as a result.

Hayden’s Disclosure:

I have silver holdings and while I am not recommending, advising or otherwise – If silver drops below $30, you can bet the house that I’ll be buying plenty of it in physical holdings.  Just an FYI.

It seems as though several SLV holders – Bank of America, JP Morgan, MS, and others – need silver to drop dramatically so that they can get out of their short contracts....

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Gold Over $1,450 – Silver Passes $39 Thumbnail

Gold Over $1,450 – Silver Passes $39

Posted on Apr 05, 2011 in Economic News – Kevin Hayden

Source: Zero Hedge

Nobody could have foreseen this. Nobody. In other news, Ben Bernanke has just ordered an extra absorbent set of Huggies.

Silver price is at 31-year high.

Time for some force majeure announcements from the TBTFs....

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Tunisia Central Bank Admits it is Missing 1.5 Tons of Gold, Taken by Former Leader and Wife

Posted on Jan 20, 2011 in Global & National News

Source: ZeroHedge

When we first reported on the rumored “confiscation” of 1.5 tons (or is that tonnes?) of gold by deposed Tunisian surging food inflation-beneficiary Ben Ali, we joked that the next WGC update of Tunisian gold assets would be strangely lower by 23%. Once again, the Onion-like reality sets in as we uncover we were right. Dow Jones reports that “Tunisia’s central bank this week said it held about 5.3 tons, but dismissed reports that the family of ex-leader Zine El Abidine Ben Ali had withdrawn the gold, saying the bank vaults were “under draconian security measures.” Um, yeah, that’s just off by the amount that Ben Ali is now desperately trying to eat…

From Dow Jones:

Tunisia had 6.8 tons of gold in December, a level unchanged for at least a decade, according to a December online report issued by the World Gold Council, which is also in line with estimates issued by the International Monetary Fund in October.

The WGC regularly publishes global statistics on gold and is considered an authority on the sector.

According to French intelligence cited by French daily Le Monde, Ben Ali’s wife Leila Trabelsi had gone to the bank to withdraw the gold.


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Virginia Offers HR 577 and Alternative Currency to Protect Itself from “Likely” Federal Reserve Meltdown

Posted on Jan 12, 2011 in Featured Articles, Federal Reserve & Bankers

Source: Virginia Legislative Information System

Hayden’s Summary:

Virginia has started a process in which it will try and shield itself and it’s citizens from the likely fallout resulting from the implosion of the Federal Reserve’s banking system (and our way of life as we know it).  Several other states have been offering bills that tackle the same subject but in different ways.  Idaho State Representative Phil Hart authored the Idaho State Silver Gem Act earlier this year which allows for the Idaho State Treasurer to issue silver medallions and make them available to the public; people may use them for any purpose they want and will have the option of paying their State taxes with the silver.  Sadly, it was defeated 51-14, but Hart said he will try again in the next legislative session if he is re-elected.

America’s monetary system is based on fiat money, it has no intrinsic value and it is not asset-backed.   Federal Reserve notes have value because of government regulations (the Legal Tender laws) that mandate their use under the threat of fine or imprisonment. ...

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New Rules: You and the IRS This January Thumbnail

New Rules: You and the IRS This January

Posted on Dec 07, 2010 in Federal Reserve & Bankers, Political Issues

Source: Activist Post

The new ObamaCare1099 rule for reporting of all cash, credit and check business transactions of $600 or more is scheduled to begin January of 2012.  This is really an extension of the 2008 Housing and Recovery Act IRS rules that start this January when merchant banks and PayPal will report business sales directly to the IRS (the reporting threshold is $20,000 and 200 transactions a year).

These new IRS rules will affect every American:

• Income tax collection could rise as much as $345 billion a year
• Small businesses will be crushed and unemployment will rise
• A cashless economy is further set in motion
• IRS snooping and audits will increase
• Gold can be tracked
• Identity theft is a risk
• Government surveillance will increase


ObamaCare requires that businesses and self-employed individuals submit 1099 forms to the IRS for all business purchases of $600 or more.  The stated purpose for this is to close the ‘tax gap’ which is the difference between the amount of what is “owed” and what is paid, due to lack of reporting and under-reporting, and is estimated at $300 billion dollars a year. ...

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Patriotic and Moral Imperative for Owning Gold and Silver Thumbnail

Patriotic and Moral Imperative for Owning Gold and Silver

Posted on Dec 06, 2010 in Constitutional & Liberty Issues, Featured Articles, Federal Reserve & Bankers

Source: Silver Bear

Old GloryI pledge allegiance to the flag…

Remember when you learned those words? It was back when everything was simple. The Pledge of Allegiance was written in 1892 by Francis Bellamy, the circulation manager of the Boston based “The Youth’s Companion” magazine. The end of the Nineteenth Century was a much simpler time. The world was a much simpler place. It is not so simple anymore.

When we recite those seemingly patriotic words, what are we really pledging our allegiance to? To the flag? To the United States? To the Republic for which it stands?

If we are to pledge our allegiance, let it be to an ideal. That ideal should be the American way of life as prescribed by the Constitution. The Constitution was designed to provide the essential ingredient in the recipe for the American Dream. It provided the “roadmap” that gave our forefathers the opportunity to make this country great. That greatness was born out of the sweat and blood of a liberated citizenry.

…of the United States of America.

Freedom as a concept and an ideal is under attack in America....

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Flight to Golden Safety Thumbnail

Flight to Golden Safety

Posted on Nov 23, 2010 in Economic News

Source: Zero Hedge

It’s amazing what a little reminder that an ever more fragile ponzi system is constantly on the verge of total collapse will do to the price of tungsten’s (or closest equivalent, “physical gold”) flight to safety.  Read: It spiked to $1,372.94 today.  I still say silver is am easy bet, but it’s good to diversify into a bit of gold, as well.


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Crisis of Fiat Currencies: US Dollar Surpluses Converted into Gold

Posted on Nov 22, 2010 in Economic News

Source: Global Research

China, Russia and Iran are dumping the dollar.

Something is going on that your government does not want you to know about. Very few journalists have written about it and little or nothing has appeared in the mainstream media. The story could be one of major stories of our time.

Western powers have tried to destroy gold as a backing for currencies for many years. Presently the major media won’t touch the story and that is understandable.
Something we have been writing about for years is the Shanghai Cooperation Organization known as SCO. Few have been listening and few have been interested in what their mission is and what they have been up to.

Some of the members are large oil producers and some, like China, are large oil users. Some have very large US dollar surpluses. As well, some are large commodity and gold and silver buyers. In fact, members are in a great part responsible for driving these prices higher. It is debatable, but we believe there is a conscious effort to accumulate gold and silver, dump dollars and to back their currencies with gold....

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Gold and Silver Ratio: A Look at History

Posted on Nov 19, 2010 in Economic News

Source: Zero Hedge

A topic we covered extensively in the past makes a second appearance, this time courtesy of Abigail Doolittle and The Weekly Peak, whose weekly musings focus on the much fabled ratio between the price of gold and silver. Some observations:

  • 323 B.C. – The ratio stood at 12.5 upon the death of Alexander the Great.
  • Roman Empire – The ratio was set at 12.
  • 12th to 17th Century – The ratio was around 12.
  • End of 19th Century – The nearly universal, fixed ratio of 15 came to a close with the end of the bi-metallism era and England’s attempt to demonetize silver and conceivably because the country had little of the precious metal.
  • 1980 – At the time of the last great surge in gold and silver, the ratio stood at 17.
  • 1991 – When silver hit its lows, the ratio peaked at 100.
  • 2003 – 2007 – This part of the bull market in silver caused the ratio to drop to 45 from 80.
  • 2008 – The ratio rose back to 80 on the Great Recession.

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Dallas Fed Admits, “For the next 8 months, the Nation’s Central bank will be monetizing the Federal Debt”

Posted on Nov 08, 2010 in Economic News, Federal Reserve & Bankers

Kevin Hayden


Dallas Fed Admits “For The Next Eight Months, The Nation’s Central Bank Will Be Monetizing The Federal Debt”, Opens Door To Bernanke Impeachment

Time to begin the Chairman impeachment proceedings. It is one thing for blogs like Zero Hedge to argue (rightly) for the past 1.5 years that the Fed’s actions in the Treasury space are nothing but direct debt monetizations. After all, one can always argue semantics, as some peers have enjoyed doing in the past. Yet when an actual Federal Reserve Fed President, in this case Dallas Fed’s Dick Fisher states it without any trace of hiding the underlying intent, then things get a little serious. To wit: “For the next eight months, the nation’s central bank will be monetizing the federal debt.” It gets worse: even though Fisher realizes that what he is doing is unconstitutional, he also admits that the Fed’s actions are now is effectively a policy tool: “Here is the message: The Fed is going out of its way to be a good citizen. It is time for the Congress to do the same....

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