Category: Global Economy

What Will You Do When You Can No Longer Buy Or Sell Without Submitting To Biometric Identification?

Michael Snyder The Truth April 18, 2014

In some areas of the world, payment systems that require palm scanning or face scanning are already being tested.  We have entered an era where biometric security is being hailed as the “solution” to the antiquated security methods of the past.

We are being promised that the constant problems that hackers are causing with our credit cards, bank accounts, ATM machines and Internet passwords will all go away once we switch over to biometric identification.  And without a doubt, we have some massive security problems that need to be addressed.  But do you really want a machine to read your face or your hand before you are able to buy anything, sell anything or log on to the Internet?  Do you really want “the system” to be able to know where you are, what you are buying and what you are doing at virtually all times?  Biometric security systems are being promoted as “cool” and “cutting edge”, but there is also potentially a very dark side to them that should not be ignored.

In this day and age, identity theft has become a giant problem.  Being able to confirm that you are who you say that you are is a very big deal.  To many, biometric security presents a very attractive solution to this problem.  For example, the following is a brief excerpt from a recent Fox News article entitled “Biometric security can’t come soon enough for some people“…

In a world where nearly every ATM now uses an operating system without any technical support, where a bug can force every user of the Internet to change the password to every account they’ve ever owned overnight, where cyber-attacks and identity theft grow more menacing every day, the ability to use your voice, your finger, your face or some combination of the three to log into your e-mail, your social media feed or your checking account allows you to ensure it’s very difficult for someone else to pretend they’re you.

Almost everyone would like to make their identities more secure.  Nobody actually wants their bank accounts compromised or their Internet passwords stolen.  But there is a price to be paid for adopting biometric identification.  Your face or your hand will be used to continually monitor and track everything that you do and everywhere that you go.  Here is some more from that Fox News article…

Friday, we made Ryan King the most verified man in Brooklyn.

“Verified,” a fingerprint-recognition device chirped back at Ryan after he placed his finger on the reader.

“Verified,” a facial-recognition device said to Ryan after scanning his face.

Ryan works at the American headquarters for FingerTec, a Malaysian company replacing PINs, usernames, and typed passwords with fingers and faces we don’t need to memorize.

“You can’t copy someone’s fingerprint unless you chop it off,” Ryan said, “which wouldn’t work because it has to be attached to a hand.”

For now, biometric security is not being forced on people.  If you want to avoid it, you can.

But eventually, once it has been adopted on a widespread basis, banks and government agencies will start requiring it.

And it is easy to imagine a day when none of us will any longer be able to buy or sell anything without submitting to biometric identification.  In fact, an “alternative payment method” involving hand scanning is already being tested in southern Sweden

Hand scanning has become an alternative payment method for people in a city in southern Sweden, researchers at Lund University said Monday.

Vein scanning terminals have been installed in 15 shops and restaurants in Lund thanks to an engineering student who came up with the idea two years ago while waiting in line to pay.

Some 1,600 people have signed up already for the system, which its creator says is not only faster but also safer than traditional payment methods.

“Every individual’s vein pattern is completely unique, so there really is no way of committing fraud with this system,” researcher Fredrik Leifland said in a statement.

“You always need your hand scanned for a payment to go through.”

But before biometric identification is widely used for payment systems, we will probably see it implemented in a whole bunch of other ways first.  For instance, biometric scanners are already being used in dining halls on college campuses all across America

Hand geometry readers have been fairly common on campus for years but more recent deployments are leveraging fingerprint and even iris biometrics to link students with transactions. Physical access is the hallmark biometric application but the technology has been gaining popularity in food service and other sectors to expedite transactions.

The social stigma attached to biometrics is also being lifted, as students are becoming more comfortable with the technology, says Brian Adoff, executive vice president at NuVision. The inclusion of a fingerprint scanner on the latest iPhone is just one indication that the younger generation is comfortable with biometrics.

“Administrators have a greater fear of the technology than students,” says Bob Lemley, director of software development at the CBORD Group. “Students are growing up with the technology so they don’t think about it as much as the older generations.”

Georgia Southern University can attest to that fact. The school deployed iris biometrics at its dining hall and only two students out of 5,400 refused to enroll, says Richard Wynn, director of the university’s Eagle Card Program.

Young people tend to be less alarmed by this technology, and so that is where it is being pushed.  If you can believe it, biometric scanners are even going to be used at Six Flags amusement park this summer…

A new scanning system at Six Flags sounds like it’s from the future, but the biometric scanner aims to make faster entrances for season pass holders.

When guests arrive at the front gate for the first time of the season, they will present their voucher and a scanner processes an image of their fingerprint, assigning a unique set of numbers that are used to validate the pass holder’s card each visit.

The first visit should take only about 20 seconds to set up the card, as opposed to the additional time of taking a photo and getting it printed on the card, according to spokeswoman Elizabeth Gotway.

This kind of reminds me of the new “MagicBands” at Disney parks that I have written about previously.  You have probably seen the television commercials featuring them by now.  Disney seems to think that parents and kids will have no problems wearing RFID tracking devices that allow them to buy stuff and monitor wherever they go.  If you want to see what Disney has to say about these “MagicBands”, you can do so right here.

Our world is becoming stranger with each passing day.

Incredibly, biometric identification is even being used in Africa to keep track of who is being vaccinated…

In fact, some biometric solutions are helping solve vaccine delivery issues in Africa which has been hampered by ineffective tracking and reporting. Today, a biometric vaccination registry helps to ensure that millions of young children receive the vaccine that is needed to save their lives. And by knowing “who” has been vaccinated, these precious life-saving drugs are not wasted by over-vaccinating some and missing others entirely.

This technology is going to keep spreading, and it is going to become harder and harder to avoid it.

And it is easy to imagine what a tyrannical government could do with this kind of technology.  If it wanted to, it could use it to literally track the movements and behavior of everyone.

We are already starting to see the establishment of massive biometric databases.  One of these is the FBI’s facial recognition database that is a part of their “Next Generation Identification” program.  It is being projected that the FBI will have compiled 52 million of our “face images” by the year 2015.  Given enough time, eventually I am sure that they would have all of our faces in their computers.

And one day, this kind of technology will likely be so pervasive that you won’t be able to open a bank account, get a credit card or even buy anything without having either your hand or your face scanned first.

When that day arrives, what will you do?

That is something to think about.

crash

Permanent link to this article: http://discerningthetimes.me/?p=6312

Expert Warns of Hyperinflation: “The American Way Of Life Will Be Destroyed”

 

Mac Slavo
SHTFPlan.com
February 18, 2014

If there’s one thing that’s certain about what’s happening in the world right now  it’s that uncertainty is pervading every aspect of the global economy. From fabricated employment statistics and consumer spending reports to obscene levels of debt and a failing domestic monetary policy, the writing is on the wall.

According to top Casey Research analyst Marin Katusa, who has met with energy ministers and business leaders in over 100 countries, it’s only a matter of time before the world’s reserve currency goes the way of the German Reichsmark and Zimbabwe Dollar.

What we’re talking about here is nothing short of an outright collapse of our banking system, hyperinflation of the US dollar, and a complete destruction of the world as we have come to know it.

This is a must-watch for those trying to understand what’s happening with the economic landscape, how to position yourself for an unprecedented paradigm shift in how Americans live their lives, what to expect as this crisis unfolds, and how to find opportunities when everyone else is in panic mode.

If the petro-dollar ends, the American way of life will be something that will be destroyed.

The inflation will be over 100% because Americans are getting their lifestyle subsidized by the rest of the world.

This is a very complicated issue… but to be summed up quickly, the world has already started trading commodities and oil, not in the petro-dollar.

And if the petro-dollar finally does die, the American way of life is gone.
When that happens – when the rest of the world finally turns its back on the United States – you’d better be positioned in the right assets… tangible assets.

Failure to do so will leave you exposed to a financial collapse unlike anything we’ve ever seen in America.

You want to invest in gold… and that’s why you really want to invest in tangible assets… because the bank system will crash.

And I’m not trying to be a doom and gloom guy, this is just factual.

You want to invest in silver, and gold, and companies that produce what the rest of the world wants, which is gold and silver.

It should be clear that China, Russia, oil-producing nations and emerging markets are positioning themselves for exactly what Marin Katusa describes. They have already established unilateral agreements to replace their petro-dollar transactions with either their own currencies or gold. When the timing is right, they’ll pull the plug, at which point all hell will break loose.

The only assets that will survive the destruction will be physical goods such as those commodities essential to survival – food, energy, water, etc.

On the monetary front, when the dollar becomes worthless, confidence in the system itself will be lost on a global scale. We saw similar effects in 2008, when banks refused to lend to businesses, individuals and even themselves for fear of counter party risk. This will leave only one viable mechanism of exchange that will be trusted by trading partners. If you happen to own some, then while everyone else is trying to figure out how to acquire food or pay for other needs, you’ll be thriving.

Insiders and the well informed like Doug Casey, Rick Rule, and Eric Sprott who want to protect and preserve their wealth are already diversifying out dollar-denominated assets. Foreign governments are doing the same, to the tune of billions of dollars being used to buy up assets in the gold production and mining sector (something sovereign wealth funds also did back in late 2008 at the height of the crisis):

The money now is showing up. For example, Rick [Rule] went and got Korean money, and then also Chinese Money. That’s a billion and a half dollars that is coming in to this sector. K.K.R, a major fund, has now put up a billion and a half dollars to set up shop in Calgary for the junior resource sector. You see a lot of funds now, starting to say, “hey, we are getting back in to the junior resource sector because it is so cheap.”

If you go to the BRI website, they talk about all of the big shareholders. You have Tocqueville, Sprott, Sun Valley, KCR…

There’s a reason that well known investment firms run by contrarians like Sprott and Casey are buying gold. Because they know what is coming down the pike.

Yellen is going to continue where Bernanke left off, with the troubles. And the reality is, this is going to make a stronger bull market for gold and silver, and it’s going to be even a better market for the junior resource sector.

If gold and silver are heading to new highs it’s because something has gone terribly wrong in our economy and financial markets.

That being said, if gold is rising and the dollar is collapsing then in all likelihood we’ll see stratospheric price increases in everything from food to fuel, so preparing a contingency plan for this scenario is absolutely critical.

The scenario described here, as noted by Marin Katusa, is not just doom and gloom. It’s fact. The system as we know it is under pressure from all sides. When it implodes you’d better be ready.

Permanent link to this article: http://discerningthetimes.me/?p=6065

Scary 1929 market chart gains traction

Opinion: If market follows the same script, trouble lies directly ahead

By Mark Hulbert, MarketWatch

CHAPEL HILL, N.C. (MarketWatch) — There are eerie parallels between the stock market’s recent behavior and how it behaved right before the 1929 crash.

That at least is the conclusion reached by a frightening chart that has been making the rounds on Wall Street. The chart superimposes the market’s recent performance on top of a plot of its gyrations in 1928 and 1929.

The picture isn’t pretty. And it’s not as easy as you might think to wriggle out from underneath the bearish significance of this chart.

I should know, because I quoted a number of this chart’s skeptics in a column I wrote in early December. Yet the market over the last two months has continued to more or less closely follow the 1928-29 pattern outlined in that two-months-ago chart. If this correlation continues, the market faces a particularly rough period later this month and in early March. (See chart, courtesy of Tom McClellan of the McClellan Market Report; he in turn gives credit to Tom DeMark, a noted technical analyst who is the founder and CEO of DeMark Analytics.)

One of the biggest objections I heard two months ago was that the chart is a shameless exercise in after-the-fact retrofitting of the recent data to some past price pattern. But that objection has lost much of its force. The chart was first publicized in late November of last year, and the correlation since then certainly appears to be just as close as it was before.

To be sure, as McClellan acknowledged: “Every pattern analog I have ever studied breaks correlation eventually, and often at the point when I am most counting on it to continue working. So there is no guarantee that the market has to continue following through with every step of the 1929 pattern. But between now and May 2014, there is plenty of reason for caution.”

Tom Demark added in interview that he first drew parallels with the 1928-1929 period well before last November. “Originally, I drew it for entertainment purposes only,” he said—but no longer: “Now it’s evolved into something more serious.”

Another objection I heard two months ago was that there are entirely different scales on the left and right axes of the chart. The scale on the right, corresponding to the Dow’s /quotes/zigman/627449/realtime DJIA +1.22%  movement in 1928 and 1929, extends from below 200 to more than 400—an increase of more than 100%. The left axis, in contrast, represents a percentage increase of less than 50%.

But there’s less to this objection than you might think. You can still have a high correlation coefficient between two data series even when their gyrations are of different magnitudes.

However, what is important, McClellan said, is that the time scales of the two data series need to be the same. And, he stresses, there has been no stretching of the time dimension to make them fit.

One of the market gurus responsible for widely publicizing this chart is hedge-fund manager Doug Kass, of Seabreeze Partners and CNBC fame. In an email earlier this week, Kass wrote of the parallels with 1928-29: “While investment history doesn’t necessarily repeat itself, it does rhyme.” And, based on a number of indicators rather than just this chart drawing the 1928-29 parallel, he believes that “the correction might have just started.”

DeMark is even more outspokenly bearish. If the S&P 500 /quotes/zigman/3870025/realtime SPX +1.11%  decisively breaks the 1762 level, he told me, then a major bear market will have only just begun.

You may still be inclined to dismiss this. But there were many more were laughing last November when this scary chart began circulating. Not as many are laughing now.

crash

Permanent link to this article: http://discerningthetimes.me/?p=6050

Is a Major Gold Scandal Going Mainstream?

 

Washington’s Blog
January 27, 2014

We noted in 2012 that there are serious questions as to whether the Fed and other central banks really have the gold holdings which they claim.

This story is starting to go mainstream.

The Financial Times writes today (h/t Zero Hedge):

A year ago the Bundesbank announced that it intended to repatriate 700 tons of Germany’s gold from Paris and New York. Although a couple of jumbo jets could have managed the transatlantic removal, it made security sense to ship the load in smaller consignments. Just how small, and over how long, has only just become apparent.

Last month Jens Weidmann, Bundesbank president, admitted that just 37 tons had arrived in Frankfurt. The original timescale, to complete the transfer by 2020, was leisurely enough, but at this rate it would take 20 years for a simple operation. Well, perhaps not so simple. While he awaits delivery, Herr Weidmann is welcome to come and look through the bars in the Federal Reserve’s vaults, but the question is: whose bars are they?

In the “armchair farmer” fraud you are told: “Look, this is your pig, in the sty.” It works until everyone wants physical delivery of their pig, which is why Buba’s move last year caused such a stir. After all nobody knows whether there are really 260m ounces of gold in Fort Knox, because the US government won’t let auditors inside.

The delivery problem for the Fed is a different breed of pig. The gold market is far more than exchanging paper money for precious metal. Indeed the metal seems something of a sideshow. In June last year the average volume of gold cleared in London hit 29m ounces per day. The world’s mines are producing 90m ounces per year. The traded volume was many times the cleared volume.

The paper gold in the London Bullion Market takes the familiar forms that bankers have turned into profit machines: futures, options, leveraged trades, collateralised obligations, ETFs . . . a storm of exotic instruments, each of which is carefully logged, cross-checked and audited.

Or perhaps not. High-flying traders find such backroom work tedious, and prefer to let some drone do it, just as they did with those money-market instruments that fuelled the banking crisis. The drones will have full control of the paper trail, won’t they? There’s surely no chance that the Fed’s little delivery difficulty has anything to do with the cat’s-cradle of pledges based on the gold in its vaults?

John Hathaway suspects there is. He worries about all the paper (and pixels) linked to gold. He runs the Tocqueville gold fund (the clue is in the name) and doesn’t share the near-universal gloom of London’s gold analysts, who a year ago forecast an average $1700 for 2013. It is currently $1,260.

As has been remarked here before, forecasting the price is for mugs and bugs. But one day the ties that bind this pixelated gold may break, with potentially catastrophic results. So if you fancy gold at today’s depressed price, learn from Buba and demand delivery.

And last week, Glenn Beck – hate him or love him, he’s got the 594th most popular website in the world and many viewers on Dish network and various cable providers – did an entire 20-minute episode on the issue:

This story hasn’t yet made it to the New York Times, the Washington Post or network television … but it is gaining momentum.

gold-bars-3

Permanent link to this article: http://discerningthetimes.me/?p=5983

DHS insider gives final warning

By Douglas J.  Hagmann

27 December 2013: Under the cover and amid the distraction of the Christmas bustle, I had my last “official” contact with a source inside the Department of Homeland Security known as “Rosebud” in my writings. My source is leaving his position, retiring along with numerous others choosing to leave this bureaucratic monstrosity. For this contact, my source took unprecedented measures to be certain that our contact was far off the radar of prying government eyes and ears. I was stunned at the lengths he employed, and even found myself somewhat annoyed by the inconvenience that his cloak-and-dagger approach caused. It was necessary, according to my source, because all department heads under FEMA and DHS are under orders to identify anyone disclosing any information for termination and potential criminal prosecution.  

“DHS is like a prison environment, complete with prison snitches,” he said, referring to the search for leaks and leakers. And the warden is obsessed. Ask anyone in DHS. No one trusts anyone else and whatever sources might be left are shutting up. The threats that have been made far exceed anything I’ve ever seen. Good people are afraid for their lives and the lives of their families. We’ve all been threatened. They see the writing on the wall and are leaving. It’s not a joke and not hype.”

The following is a narrative from my source, prefaced with the instructions to “take it or leave it,” and “disregard it at your own peril.” He added that it’s now up to each American to act on the information themselves or suffer the consequences. “I’ve resigned myself to the fact that most [Americans] will never be convinced of the reality that is taking place right in front of them.”

The plan explained

“According to every internal document I’ve seen and read, and from the few people I’ve spoken with who understand what’s going on, preparations have been finalized to respond to a crisis of unprecedented magnitude within the United States. The response will include the use of lethal force against U.S. citizens under the instructions of Barack Obama.”  But why?

“‘It’s the economy, stupid,’” he began, paraphrasing a campaign slogan coined by James Carville for Bill Clinton’s 1992 campaign.  ”Just as I disclosed in our first meeting, the crisis will be rooted in an economic collapse. I told you last year, at a time when gold and silver were setting record highs, one specific indicator that time is very short. It is the final ‘smack down’ of the metals, gold and silver, that will presage the orchestrated economic collapse that is being planned by the bankers of Wall Street. Everybody needs to understand that this is a deliberate collapse of the U.S. economy with the oversight of the White House and the full knowledge of the Justice Department.  Everyone seems to be waiting for some big, history making event that will signal the start of the collapse. The fact is that the collapse has already started. It’s incremental, like a snowball rolling down a hill. It gets bigger and rolls faster. Well, this snowball is well on its way down the hill.”

“I don’t mean to sound repetitive, by I can’t stress this enough. Contrary to what you hear, we’re already in an economic collapse, except that most people haven’t a clue. The ‘big bang’ comes at the end, when people they wake up one morning and can’t log in to their bank accounts, can’t use their ATM cards, and find out that their private pension funds and other assets have been confiscated,” he stated.

“I’ve seen documentation of multiple scenarios created outside of DHS. Different plans and back-up plans. Also, please understand that I deliberately used the word ‘created,’ as this is a completely manufactured event.  In the end it won’t be presented that way, which is extremely important for everyone to understand. What is coming will be blamed on some unforeseen event out of everyone’s control, that few saw coming or thought would actually happen. Then, another event will take place concurrent with this event, or immediately after it, to confuse and compound an already explosive situation.” I asked for specifics.

“As I said, there are several scenarios and I don’t know them all. I know one calls for a cyber-attack by an external threat, which will then be compounded by something far removed from everyone’s own radar. But it’s all a ruse, or a pretext. The threat is from within,” he stated. “Before people can regain their footing, a second event will be triggered.” Again, I asked for specifics.

“I’ve seen one operational plan that refers to the federal government’s response to a significant terrorist attack on U.S. soil. Information at these levels is compartmentalized. I don’t have specifics, just plans for the response. The response will be controls and restrictions on travel, business, and every aspect of our lives, especially gun ownership and speech that incites people against the government. I guess some people would call it Martial Law, and they would not be incorrect. But understand that this will be a process deployed in stages. How quickly of a process remains to be seen.”

The mechanics explained

As I said, people continue to look for something big to happen first, followed by a militaristic response by the federal government against U.S. citizens. Based on what I’ve seen, I don’t believe it will happen this way, although there is one unthinkable exception. That exception would involve a ‘decapitation’ of our leadership, but I’ve seen nothing even remotely suggestive of that. But I’ve heard and even read articles where that is mentioned. Frankly, though, that’s always been a threat. I suppose that if the leadership is deemed useless, or becomes a liability to the larger agenda in some manner,  it could happen. The precedent exists. Let’s pray that it’s not the case now.”

“I don’t think anyone except the initiated few know the precise series of events or the exact timing, just a general overview and an equally general time period. I think we’re in that period now, as DHS has their planned responses finalized. Also, the metals are important because it’s real money, not Ponzi fiat currency. The U.S. has no inventory of gold, so the prices are manipulated down to cause a sell-off of the physical assets. China is on a buying spree of gold, and other countries want their inventory back. The very people causing the prices to drop are the ones who are also buying the metals at fire sale prices. They will emerge extremely wealthy when the prices rise after the U.S. currency becomes wallpaper. A little research will identify who these people and organizations are.”

“I’d like to add a bit of perspective that might help explain the events as I described. Do you remember former Defense Secretary Donald Rumsfeld announcing that the Pentagon was unable to account for $2.3 trillion in the defense budget? That was on September 10, 2001, the day before the attacks of 9/11. Some suggest that 9/11 was orchestrated, in part to cover up the missing money, which is ludicrous. The result, however, was that suddenly the accounting issue took a back seat because of the attacks. The result will be the same. That’s a perfect example of the mechanics of what we are about to experience. It’s going to take years to sort out, and when it’s finally sorted out, the damage will have long been done.”

“Please note a few final things. The relationship that exists between DHS today and the executive branch is well beyond alarming. DHS and other organizations have become the private army of the Oval Office. The NSA, and I’ve got contacts there, is taking orders from the Oval Office. The IRS is under the virtual control of the Oval Office in a manner that would make Nixon cower. Even though all roads appear to lead to the Oval Office, they lead through the Oval Office. It’s not just Obama, but the men behind him, the people who put him there. The people who put him there are the ones who created him.” I asked who created him.

“First, ask yourself why there was such an all out effort to marginalize anyone talking about Obama’s eligibility in 2008. Even so-called conservatives pundits fell for the lie that such questions were nothing more than a diversion. They were following a specific drumbeat. That should tell every rational adult that he is a creation of the globalists who have no allegiance to any political party. He is the product of decades of planning, made for this very time in our history. He was selected to oversee the events I just disclosed. Who has that ability? He’s a product of our own intelligence agencies working with the globalists. He should be exhibit ‘A’ to illustrate the need to enforce the Logan Act. Need I say more?”

As often said by another of my sources, the U.S. is a captured operation. The lie is bigger than most people realize or are willing to confront. That is, until there is no other option. By then, it might be too late.

a flag

Permanent link to this article: http://discerningthetimes.me/?p=5939

Is The Perfect Storm Coming For Gold?

 

Zero Hedge
December 16, 2013

Due to western central bank price manipulation, the mining sector is in critical condition, the supply line is all but halted, and the physical supply is being swallowed up by Asia. The last shoe to drop is for major mining companies to start closing down production at major mines. Though this would be perceived as the end for gold, speculators will be happy to know that this would be the beginning of the biggest Fed induced bubble in history! But unlike previous Fed bubbles where they support the price increase, the gold bubble will be a result of western central planners mis-managing the gold price for the past 3 decades and finally losing control. As Peak Resources explains in the brief clip, the perfect storm is coming for gold…

Via Peak Resources,

Friday October 11th, gold trading was shut down for 10 seconds according to the CME.

Why, because someone sold 2 million ounces of gold at one time. Who does this? Who sells nearly 2 and half percent of annual gold production in a single minute? The gold valued at over $2.5 billion could not have been sold by a small trader, and certainly not the smart money, institutional investors know that you don’t exit a large trade like this…

So who could it be? Try the dumb money, The Western Central Banks.

As noted by organizations like GATA, TF Metals Report, ZeroHedge, and Shtfplan, gold manipulation is out in the open. Friday October 11th is just one of the daily examples.

With the western central banks suppressing the price, the eastern central banks have been happy buyers.

However, PeakResources.org believes this gold price suppression scheme is nearing its end.

With the Federal Reserve on a fiat currency suicide mission with QE forever, and the U.S. federal government bankrupt, the days of dollar supremacy are in its last days.

For gold though, the central banks have really screwed themselves.

At a price of $1,250, gold mining companies can no longer make a profit. Recent studies show their all in cash cost anywhere from $1,400 to as high as $1,700. Liquid fuels, human energy, and new exploration are costly in the mining process, so it is unlikely these costs can be cut to accommodate the low gold price.

Since gold’s peak in 2011, the TSX Venture exchange, home to the worlds gold exploration companies, is down more than 59%

The gold juniors index, the GDXJ, is down 83%

And the large cap gold companies, despite seeing a 400% increase in the price of gold over the past 12 years, are trading at lower valuations then they did even 20 years ago.

As noted in our video Peak Gold, no major gold discoveries have been found in more than 10 years! Gold production as a whole has plateaued.

Remember, all mines have a limited supply of gold, at some point in time they either deplete themselves or become uneconomical. Uneconomical meaning companies can’t mine for profit, which is exactly the case for nearly all gold mines today!

Consider a very famous gold mining region, South Africa

In 1971 South Africa produced 47.5 million ounces of gold, accounting for 68% of global mine production.

In 2011, South Africa accounted for only 7% of gold production with about 8 million ounces of mine production.

Despite all the technological advances and billions in exploration and development, South African gold production is down 82%.

South Africa isn’t an anomaly either, here in the U.S. production in the past 20 years is down 30%.

Current discoveries are small, in remote areas, and are lower grade deposits.

PeakResources.org recently attended a gold mining event in London, what we learned was that exploration budgets were being slashed! No development, no exploration, and a scaling back of projects.

What this all leads to is a price spike in gold, just as gold rose rose from $35 to $850 in the 70s, The Dow Jones from 2,000 to 11,000 in the 1990, and Bitcoin from a penny to $1,200 more recently, so to can gold have a parabolic spike.

The perfect storm is coming for gold…

Due to western central bank price manipulation the mining sector is in critical condition, the supply line is all but halted, and the physical supply is being swallowed up by Asia.

The last shoe to drop is for major mining companies to start closing down production at major mines. Though this would be perceived as the end for gold, speculators will be happy to know that this would be the beginning of the biggest Fed induced bubble in history! But unlike previous Fed bubbles where they support the price increase, the gold bubble will be a result of western central planners mis-managing the gold price for the past 3 decades and finally losing control.

With fiat currency being pumped into the system daily and the gold sector in shambles, the central banks are in for a big surprise because sooner or later supply and demand economics will crush the very people who are behind the devastation we have seen in the gold mining and precious metal industry.

gold

Permanent link to this article: http://discerningthetimes.me/?p=5914

Investor: ‘Eventually, The Whole World Is Going To Collapse’ Because Of The West’s ‘Staggering’ Debts

 By “eventually” he believes around two years from now in 2015 or 2016 …

By Jason Howerton, The Blaze – “Famed investor Jim Rodgers is predicting a disastrous scenario for the global economy. ‘Eventually, the whole world is going to collapse,’ he told CBC in a recent interview.

Rodgers said ‘we in the West have staggering debts,’ noting that the United States is the ‘largest debtor nation in the history of the world.’

‘This is going to end badly,’ he warned.

Zero Hedge breaks down Rodgers’ thoughts on the ‘commodity super-cycle’ and increasing energy production through fracking:

However, the co-founder of Soros’ Quantum fund is convinced that the commodity super-cycle is far from over, but driven by supply constraints (and cost increases) as opposed to demand from higher growth. The following interview provides more color on his commodity view as he re-iterates his bullish stance on Ag (with sugar a focus) and Natural Gas (some harsh natural realities coming), warning “don’t get too excited about fracking,” when he talks energy products.

Rogers, in his inimitable way, sums up the state [of] euphoria that many markets find themselves in thus, “we are all floating around on a sea of artificial liquidity right now. This is not going to last.”

Rodgers went on to warn of the ‘next crisis,’ which he predicted may occur in 2015 or 2016.

‘The next correction when it comes, because the debt is so very high — you know, 2008 was worse than 2002 because the debt was so much higher. You wait until 2015 or 2016 when the next crisis hits… debt has gone through the roof, the next one’s gonna be really bad’

His advice: ‘Be prepared, be worried, and be careful.’

Permanent link to this article: http://discerningthetimes.me/?p=5898

Bank of America looks to biometric ATMs in new patent application

By Adam Vrankulj

November 15, 2013 – 

The Bank of America has pushed through a patent application, which describes a biometric ATM system.

Reported in ATM Marketplace, the patent was submitted to the USPTO in 2012, and published recently in 2013.

Specifically, this patent application outlines a system for authenticating users with a combination of a pin-code and fingerprint biometrics.

The design of a biometric ATM and the patent application certainly isn’t very specific, and at this point it looks like the BofA is staking out some territory for development, and doesn’t want to leave much room for competition.

“[A] fingerprint scanner for use in the systems and methods of the invention may use optical fingerprint imaging, ultrasonic sensors, capacitance sensors (passive or active) and/or any other suitable method to capture the digital image of a fingerprint,” is just an example of some of the unspecific language contained in this application. “Any suitable method for PIN validation and fingerprint validation may be used to validate the input PIN and fingerprints.”

It’s been widely acknowledged that payment systems and ATMs are a coming wave for biometric integrations, and it’s interesting to see the BofA making a move.

There are a few places where biometric ATMs are already a reality.

Reported previously, the Central Bank of Nigeria has teamed up with Dermalog for biometric POS systems as well as for biometric ATMs.

Likewise, in Kenya, Tracom Services has launched a new line of fingerprint ATMs in Nairobi.   

Permanent link to this article: http://discerningthetimes.me/?p=5847

OBAMA’S SECRET TREATY WILL MERGE AMERICA INTO THE EMERGING ONE WORLD ECONOMIC SYSTEM

 

Michael Snyder
Economic Collapse
November 14, 2013

Did you know that the Obama administration is negotiating a super secret “trade agreement” that is so sensitive that he isn’t even allowing members of Congress to see it?  The Trans-Pacific Partnership is being called the “NAFTA of the Pacific” and “NAFTA on steroids”, but the truth is that it is so much more than just a trade agreement.  This treaty has 29 chapters, but only 5 of them have to do with trade.

Most Americans don’t realize this, but this treaty will fundamentally change our laws regarding Internet freedom, health care, the trading of derivatives, copyright issues, food safety, environmental standards, civil liberties and so much more.  It will also merge the United States far more deeply into the emerging one world economic system.  Initially, twelve nations will be a party to this treaty including the United States, Mexico, Canada, Japan, Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam.  Together, those nations represent approximately 40 percent of global GDP.  It is hoped that additional nations such as the Philippines, Thailand and Colombia will join the treaty later on.

There are some very good reasons why Obama does not want the American people to know anything about what is in this treaty.  This agreement will impose very strict Internet copyright rules on the American people, it will ban all “Buy American” laws, it will give Wall Street banks much more freedom to trade risky derivatives and it will force even more domestic manufacturing offshore.

It contains a whole host of things that Obama would be unable to get through Congress on his own.  But he is hoping to spring this on Congress at the last minute and get them to agree to this “free trade agreement” before they realize all of the things that are contained in it.

The secrecy surrounding these treaty negotiations have really been unprecedented.  The following is an excerpt from a recent article by Kurt Nimmo

“Since the beginning of the TPP negotiations, the process of drafting and negotiating the treaty’s chapters has been shrouded in an unprecedented level of secrecy,” Wikileaks notes in a statement on the release of the TPP draft. “Access to drafts of the TPP chapters is shielded from the general public. Members of the US Congress are only able to view selected portions of treaty-related documents in highly restrictive conditions and under strict supervision. It has been previously revealed that only three individuals in each TPP nation have access to the full text of the agreement, while 600 ’trade advisers’ – lobbyists guarding the interests of large US corporations such as Chevron, Halliburton, Monsanto and Walmart – are granted privileged access to crucial sections of the treaty text.”

And Obama reportedly is seeking “trade promotion authority” which would give him the ability to sign this treaty before Congress even votes on it…

Normally free -trade agreements must be authorized by a majority of the House and Senate, usually in lengthy proceedings.

However, the White House is seeking what is known as “trade promotion authority” which would fast track approval of the TPP by requiring Congress to vote on the likely lengthy trade agreement within 90 days and without any amendments.

The authority also allows Obama to sign the agreement before Congress even has a chance to vote on it, with lawmakers getting only a quick post-facto vote.

This is so insidious that it is hard to find the words to describe it.

In essence, Obama is trying to make a giant end run around Congress on dozens of different issues that are addressed by this treaty.

Fortunately, there are at least some members of Congress that are waking up to this.  Earlier this week, a small group of Republicans and a small group of Democrats both sent Obama a letter condemning this “free trade” agreement…

Separate groups of House Republicans and Democrats on Tuesday condemned the Obama administration’s proposed sweeping free trade agreement with 11 Pacific nations, known as the Trans-Pacific Partnership.

Strongly worded letters to President Barack Obama Tuesday were signed by hardline tea partiers, true-blue progressives, and moderate, corporate-friendly lawmakers in both parties, indicating political trouble for a trade deal the administration had hoped to seal by year end.

This is one of the most important political issues facing our nation here at the end of 2013, and yet you hear next to nothing about this treaty on the mainstream news.  If this treaty is approved, the United States will be permanently bound by the provisions of this treaty and will never be able to change them unless all of the other countries agree

Countries would be obliged to conform all their domestic laws and regulations to the TPP’s rules—in effect, a corporate coup d’état. The proposed pact would limit even how governments can spend their tax dollars. Buy America and other Buy Local procurement preferences that invest in the US economy would be banned, and “sweat-free,” human rights or environmental conditions on government contracts could be challenged. If the TPP comes to fruition, its retrograde rules could be altered only if all countries agreed, regardless of domestic election outcomes or changes in public opinion. And unlike much domestic legislation, the TPP would have no expiration date.

Are you starting to understand just how dangerous this treaty is?

Let me give you just one example of how this treaty could directly affect you.

Do you remember SOPA?

There was a huge public backlash when the very strict Internet copyright provisions of SOPA were revealed to the public, and the American people loudly expressed their displeasure to members of Congress.

But now the provisions of SOPA are back.  Most of them have reportedly been very quietly inserted into this treaty.  If this treaty is enacted, those provisions will become law and the American people will not be able to do a thing about it.

And according to an article in the New York Times, there are all sorts of other disturbing things that have been slipped into this treaty…

And yet another leak revealed that the deal would include even more expansive incentives to relocate domestic manufacturing offshore than were included in Nafta — a deal that drained millions of manufacturing jobs from the American economy.

The agreement would also be a boon for Wall Street and its campaign to water down regulations put in place after the 2008 financial crisis. Among other things, it would practically forbid bans on risky financial products, including the toxic derivatives that helped cause the crisis in the first place.

Are you starting to grasp why the Obama administration is so determined to keep this treaty such a secret?

In addition, this “free trade” agreement will push the ongoing deindustrialization of America into overdrive.  Every year, we buy hundreds of billions of dollars more stuff from the rest of the world than they buy from us.  Tens of thousands of American businesses have been lost as a result, and millions of good jobs have been shipped overseas.

If you are not familiar with our “trade deficit”, you really should be.  It is one of the issues at the very heart of our economic problems.  Posted below is a short 3 minute video that briefly discusses the trade deficit and why it is so important…

Slowly merging our economy with the rest of the planet has been absolutely disastrous for America.  Just consider the following statistics…

-Overall, the United States has run a trade deficit of more than 8 trillion dollars with the rest of the world since 1975.

-The United States has lost more than 56,000 manufacturing facilities since 2001.

-Back in the year 2000, there were more than 17 million Americans working in manufacturing.  Now there are less than 12 million.

-There are less Americans working in manufacturing today than there was in 1950 even though the population of the country has more than doubled since then.

-Back in 1950, more than 80 percent of all men in the United States had jobs.  Today, less than 65 percent of all men in the United States have jobs.

-When NAFTA was pushed through Congress in 1993, the United States had a trade surplus with Mexico of 1.6 billion dollars.  By 2010, we had a trade deficit with Mexico of 61.6 billion dollars.

-Back in 1985, our trade deficit with China was approximately million dollars (million with a little “m”) for the entire year.  In 2012, our trade deficit with China was 315 billion dollars.  That was the largest trade deficit that one nation has had with another nation in the history of the world.

-According to the Economic Policy Institute, America is losing half a million jobs to China every single year.

-According to Professor Alan Blinder of Princeton University, 40 million more U.S. jobs could be sent offshore over the next two decades if current trends continue.

Once upon a time, our great manufacturing cities were the envy of the entire planet.  In fact, at one time Detroit actually had the highest per capita income in the United States.

But now Detroit is a rotting, decaying, festering hellhole that is completely bankrupt.  And there are dozens of other formerly great manufacturing cities that are heading down the exact same path.

These “free trade” agreements are neither “free” nor “fair” when you really examine them, and they are absolutely eviscerating the middle class.

Please urge your representatives in Congress to block the Trans-Pacific Partnership.  If this treaty does get approved, it is going to make a lot of our problems a whole lot worse.

new treaty

Permanent link to this article: http://discerningthetimes.me/?p=5841

Martial Law and the Economy: Is Homeland Security Preparing for the Next Wall Street Collapse?

Can not stress this enough keep your eyes open and also upon the Lord!

 

By Ellen Brown

Global Research, October 07, 2013

Reports are that the Department of Homeland Security (DHS) is engaged in a massive, covert military buildup. An article in the Associated Press in February confirmed an open purchase order by DHS for 1.6 billion rounds of ammunition. According to an op-ed in Forbes, that’s enough to sustain an Iraq-sized war for over twenty years. DHS has also acquired heavily armored tanks, which have been seen roaming the streets. Evidently somebody in government is expecting some serious civil unrest. The question is, why?

Recently revealed statements by former UK Prime Minister Gordon Brown at the height of the banking crisis in October 2008 could give some insights into that question. An article on BBC News on September 21, 2013, drew from an explosive autobiography called Power Trip by Brown’s spin doctor Damian McBride, who said the prime minister was worried that law and order could collapse during the financial crisis. McBride quoted Brown as saying:

If the banks are shutting their doors, and the cash points aren’t working, and people go to Tesco [a grocery chain] and their cards aren’t being accepted, the whole thing will just explode.

If you can’t buy food or petrol or medicine for your kids, people will just start breaking the windows and helping themselves.

And as soon as people see that on TV, that’s the end, because everyone will think that’s OK now, that’s just what we all have to do. It’ll be anarchy. That’s what could happen tomorrow.

How to deal with that threat? Brown said, “We’d have to think: do we have curfews, do we put the Army on the streets, how do we get order back?”

McBride wrote in his book Power Trip, “It was extraordinary to see Gordon so totally gripped by the danger of what he was about to do, but equally convinced that decisive action had to be taken immediately.” He compared the threat to the Cuban Missile Crisis.

Fear of this threat was echoed in September 2008 by US Treasury Secretary Hank Paulson, who reportedly warned that the US government might have to resort to martial law if Wall Street were not bailed out from the credit collapse.

In both countries, martial law was avoided when their legislatures succumbed to pressure and bailed out the banks. But many pundits are saying that another collapse is imminent; and this time, governments may not be so willing to step up to the plate.

The Next Time WILL Be Different

What triggered the 2008 crisis was a run, not in the conventional banking system, but in the “shadow” banking system, a collection of non-bank financial intermediaries that provide services similar to traditional commercial banks but are unregulated.  They include hedge funds, money market funds, credit investment funds, exchange-traded funds, private equity funds, securities broker dealers, securitization and finance companies. Investment banks and commercial banks may also conduct much of their business in the shadows of this unregulated system.

The shadow financial casino has only grown larger since 2008; and in the next Lehman-style collapse, government bailouts may not be available. According to President Obama in his remarks on the Dodd-Frank Act on July 15, 2010, “Because of this reform, . . . there will be no more taxpayer funded bailouts – period.”

Governments in Europe are also shying away from further bailouts. The Financial Stability Board (FSB) in Switzerland has therefore required the systemically risky banks to devise “living wills” setting forth what they will do in the event of insolvency. The template established by the FSB requires them to “bail in” their creditors; and depositors, it turns out, are the largest class of bank creditor. (For fuller discussion, see my earlier article here.)

When depositors cannot access their bank accounts to get money for food for the kids, they could well start breaking store windows and helping themselves. Worse, they might plot to overthrow the financier-controlled government. Witness Greece, where increasing disillusionment with the ability of the government to rescue the citizens from the worst depression since 1929 has precipitated riots and threats of violent overthrow.

Fear of that result could explain the massive, government-authorized spying on American citizens, the domestic use of drones, and the elimination of due process and of “posse comitatus” (the federal law prohibiting the military from enforcing “law and order” on non-federal property). Constitutional protections are being thrown out the window in favor of protecting the elite class in power.

 The Looming Debt Ceiling Crisis

 The next crisis on the agenda appears to be the October 17th deadline for agreeing on a federal budget or risking default on the government’s loans. It may only be a coincidence, but two large-scale drills are scheduled to take place the same day, the “Great ShakeOut Earthquake Drill” and the “Quantum Dawn 2 Cyber Attack Bank Drill.” According to a Bloomberg news clip on the bank drill, the attacks being prepared for are from hackers, state-sponsored espionage, and organized crime (financial fraud). One interviewee stated, “You might experience that your online banking is down . . . . You might experience that you can’t log in.” It sounds like a dress rehearsal for the Great American Bail-in.

Ominous as all this is, it has a bright side. Bail-ins and martial law can be seen as the last desperate thrashings of a dinosaur. The exploitative financial scheme responsible for turning millions out of their jobs and their homes has reached the end of the line. Crisis in the current scheme means opportunity for those more sustainable solutions waiting in the wings.

Other countries faced with a collapse in their debt-based borrowed currencies have survived and thrived by issuing their own. When the dollar-pegged currency collapsed in Argentina in 2001, the national government returned to issuing its own pesos; municipal governments paid with “debt-canceling bonds” that circulated as currency; and neighborhoods traded with community currencies. After the German currency collapsed in the 1920s, the government turned the economy around in the 1930s by issuing “MEFO” bills that circulated as currency. When England ran out of gold in 1914, the government issued “Bradbury pounds” similar to the Greenbacks issued by Abraham Lincoln during the US Civil War.

Today our government could avoid the debt ceiling crisis by doing something similar: it could simply mint some trillion dollar coins and deposit them in an account. That alternative could be pursued by the Administration immediately, without going to Congress or changing the law, as discussed in my earlier article here. It need not be inflationary, since Congress could still spend only what it passed in its budget. And if Congress did expand its budget for infrastructure and job creation, that would actually be good for the economy, since hoarding cash and paying down loans have significantly shrunk the circulating money supply.

american-flag

Permanent link to this article: http://discerningthetimes.me/?p=5727