98 replies to this topic

[Russ]

dharma

There is this piece: http://www.zerohedge...emands-cash-ban from Zero Hedge concerning a cashless society in USA. Then there is this piece: http://www.independe...y-10231995.html from Denmark.

this cashless society talk seems like total nonsense.... ok maybe it will happen in 30 years ?

geez

http://armstrongecon.../archives/31028

"You are now watching newspapers, TV shows, and other forms of media preparing for the coming cashless society. This is a marketing campaign, and may indeed be what October 1, 2015 is all about – 2015.75. I doubt that the USA will be able to move to a cashless society as easily as Europe. The dollar is used around the world and cancelling that outstanding money supply would bring tremendous international unrest. Additionally, the USA is not in crisis financially, as is the case in Europe.

Europe, on the other hand, has an entirely different problem. The failure to have consolidated the debts of member states meant that the reserves of the banks were constituted from a politically correct mixture of debt. Instead of fixing the problem, politicians who are lawyers always move one-step forward with laws. To them the logical solution is to eliminate cash to protect banks from a panic run that would collapse Europe and take Brussels with it.

This is now a deliberate marketing campaign. I know how these things work and pay attention. They are selling this idea everywhere and that is the preparation for the inevitable action. With the speed at which they are moving, it certainly appears they are gearing up for October 1 on our model. It is also interesting that some German press misquoted our date as October 17. I was not sure why they would do that, but perhaps that was intentional as well. This is very curious, for when they take that final step, it will most likely be sudden and overnight. They would announce it and give everyone some time frame to take their paper currency and deposit it into their bank accounts.

For European readers, swap to dollars for hoarding and you can open accounts in the U.S., which for now is a safety valve. While gold makes sense for local hoarding, it may have lost its movability."

Edited by Russ, 28 May 2015 - 09:32 PM.

[dharma]

thanks folks, i had read the armstrong piece. if that is ever instituted one would not be in control of his/her own money lots of talk about the next low being the final low. so far the lows are holding. the banksters keep pushing, but to no avail. the feel of the gold market has changed. i am only pointing out the downside is met w/support. it wont be long now. the miners leading to the upside is always a good sign Paul Singer joined the list of analysts calling for the demise of the bond. its time is coming. and that is the lynchpin to the financial world. dharma

[dougie]

First gap filled Was the above gap in gdx and island

[dharma]

if you think last weeks cots were extreme
so does ted butler
http://www.silversee...curiouser-14455

this weeks cot
http://news.goldseek.../1432927960.php
dharma

[dougie]

DUST looks like it could fly here with a bit more up.

[dharma]

i want to see more of this http://www.miningwee...mine-2015-06-01
when china goes in acquisition phase for gold miners it will be game on
i read marty over the weekend, he had a piece on gold buying essentially not being allowed in europe. while the europeans are not a top dog, the idea of gold confiscation is disturbing.
lets see if this rally has legs, into the seasonal weakness
dharma

[dougie]

head fake this AM IMO

[dharma]

just another comex scam it should be a week of scams until after the jobs report on friday dharma

[dharma]

on the 11th sun/mars conjunct which is a war like conjunction. there is more stuff in august. i like for bottoming action in the june/july seasonal weak time frame. but w/a cautious eye. the gold market will poised later this summer. and all the while the world becomes more and more unstable a larger mountain of debt looms. i have looked at the velocity of money charts and we have gone below the levels of the great depression. that is a big red flag. along w/margin debt making new highs. alice, will leave wonderland very soon dharma

[dharma]

sentiment HGNSI fell rose 6.7 points to -13.3% yesterday MarketVane’s Bullish Consensus rose a point to 38% the DSI rose 3 points to 23%. this is interesting .http://www.zerohedge.com/news/2015-06-01/hacked-emails-expose-george-soros-ukraine-puppet-master just days before he was talking about the event to start ww3! i expect the sideways to down action to continue going into the jobs report last night raj lowered india rate by.25 , the market was looking for a .5 reduction. the industrials made new highs , while the transports made 6 month lows what does it mean. its a 1st dharma