Next comes the scandals. In the forefront are the tungsten bars coated with gold discovered by the Chinese several weeks ago, which has been blacked out in the elitist owned media. The bars were held and delivered from London and believed to be from the ETF-GLD, which received them from the US government. Our question is how much gold held by the US government is a fraud? Is GLD a fraud? Is SLV a fraud? Why can’t London OTC gold dealers deliver gold and have to borrow it from the Bank of England? Why does Comex not have gold to deliver and has to borrow it from Canada and the ECB? When is the CFTC going to stop the short side concentration in gold and silver? When is the SEC going to stop black box front-running and naked shorting? Once these factors assert themselves will the system break down and finally will some of these crooks go to jail? Wall Street, banking and our government continue to steal from the American people with the assistance of the Federal Reserve. Is it no wonder that 75% to 80% of Americans want the Fed audited? We must also keep in mind that the public still only knows a fraction of what has been done to them. They know little about front running, naked shorting or bogus gold bars, thanks to our media. Criminals are doing 20 to 30 years for much less than what these crooks have done and the core, the heart of the mechanism, springs from the Federal Reserve. The Fed is the center from which the fraud emanates.

When we write and present articles such as this they often appear in other media, but are quickly deleted after a day or two. It will be interesting to see if this article appears at all. We have been told by some sites that government has brought to bear pressure to stop the reprinting of material of a select few writers.

Further to the latest scandals regarding gold and silver: December is usually the largest delivery month of the year and we expect delivery problems again on both gold and silver contracts. The first line of defense by the exchanges will be intimidation and then offers of dollar premiums for not taking delivery as has been recently done in London. Over the next week and into December the drama will again be played out. The question again arises can London and Comex make delivery?

Another factor not yet considered is when will those who were involved in the tungsten gold bar caper be exposed? Who created the bars and then sold them? It is a scandal that is really an afterthought to the massive physical buying in the marketplace, particularly by the Chinese and Indians. As we announced long ago the dollar has decoupled from gold. They are both on their own, although we must concede that a weaker dollar has to help gold prices. Gold still is making gains against all currencies. We have a number of European nations who are upset about the falling dollar and rising euro, etc., especially the Germans. They want business as usual. Evidentially no one has told them the world is in a depression. Western banks are bankrupt and the Chinese and others realize that, so they will not stop buying gold. There is a put behind the price and every time gold softens the Chinese come to the rescue along with others. Goldman and Morgan’s shorts are going to get buried this time.

Due to the frightful weather in Scotland during the G-20 meeting no one got to play golf, and they almost called the meeting because of it. The course for dollar abandonment was only talked about in secret meetings, but quantitative easing was still in vogue. No one really wanted to raise interest rates nor stop the flow of massive money and credit. They may have cut back but no less aggregate creation is in sight. It is no wonder almost all currencies are falling versus gold. This has caused the end of the G-8 with all power now going to the G-20. This is why we believe the new international trading unit will be a combination of 20 currencies, weighted in an index, and backed 10% to 15% gold. That is where we believe the next move is headed.

In the end each currency will fall versus gold, some more than others. Few countries have an exit strategy and to a great extent follow the western nations. That is because they all believe recovery is on the way. This is all part of a propaganda game to make the world believe that deliverance is upon them. Nothing could be further from the truth. If the financial and economic conditions were going to improve why would most countries need such low interest rates and why would they need such money and credit creation? They all know there is only one way out and that is to inflate and that is what most all of them are doing and why all their currencies will continue to fall versus gold.

        
Carl Levin, chairman of the Senate Armed Services Committee, said higher-income Americans should be taxed to pay for additional troops sent to Afghanistan and that NATO should provide half of the new soldiers.  An “additional income tax to the upper brackets, folks earning more than $200,000 or $250,000” could fund more troops

        
Legislators, at all levels of government, still don’t get it.  It’s over - the socialism and crony capitalism has busted the system.  The debt is unserviceable; the economy is in tatters on the back of too much debt, taxes and regulations.  Yet the remedy is to tax, spend and borrow even more!

        
A Quinnipiac University poll of a national cross section of voters reported its latest results…and one question was particularly interesting to me.  It read: "President Obama has pledged that health insurance reform will not add to our federal budget deficit over the next decade. Do you think that President Obama will be able to keep his promise or do you think that any health care plan that Congress passes and President Obama signs will add to the federal budget deficit?" 

       
The answer: Less than one-fifth of the voters -- 19 percent of the sample -- think he will keep his word. Nine of 10 Republicans and eight of 10 independents said that whatever passes will add to the torrent of red ink. By a margin of four to three, even Democrats agreed this is likely. 

       
That fear contributed directly to the fact that, by a 16-point margin, the majority in this poll said they oppose the legislation moving through Congress.

        
The real star of the health care debate this weekend has been the 2,074-page bill.

     …"It's a massive increase in government, as shown by this bill," Mr. Ensign told a reporter off the floor later, spreading his arms wide as if to encompass the stack of papers that comes in at more than a foot tall and, according to Sen. Lisa Murkowski, weighs in at more than 20 pounds. 

       
The bill contains the word "tax" 511 times and includes 18 tax hikes, according to Americans for Tax Reform, a conservative lobby group. It uses the word "require" more than 1,000 times, the word "shall" more than 3,500 times, and talks about studies required by the bill 150 times. 

        
Can the Postal Service be Saved?   With Losses Mounting, Postal Service Seeks Autonomy, Pushes to Cut Saturday Service; Rep. Danny Davis Calls for a Bailout   The agency cut $6 billion in expenses over the past year, eliminating 40,000 of its roughly 750,000 jobs and slashing overtime hours. But it says that isn't enough.

        
The comments, from mayors of Philadelphia, San Jose, Calif; Mesa, Ariz., and Bowling Green, Ky., at a panel discussion sponsored by the Brookings Institution and the National League of Cities, underscore how the recession for local government is far from over.

       
Mesa's mayor, Scott Smith, said the steep drops in sales-tax revenue, the city's primary source of money, are "changing our reality."

       "We treat this financial crisis as something we're not going to get out of," said Mr. Smith, whose city has about 500,000 citizens and is in the Phoenix metropolitan area.

       
Even as economists declare the recession over, local revenues continue to fall. That's because the lion's share of their receipts -- sales, income and property taxes -- are connected to the job market and real-estate prices. Jobs and real-estate prices are expected to lag the broader economic recovery, reducing city revenues for months or years after the technical end of the recession.

        
We have argued that those that bombast about ‘saving capitalism for the US’ are duplicitous or ignorant.  Capitalism died decades ago.  If there had been capitalism, Goldman would’ve disappeared in 1987 as would have Citi in 1991-1992.  Solons are trying to save the socialist state that k

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