Expect Financial Collapse & Flight To Gold

Today David Stockman warned King World News that there is a great “unwind” ahead that will “ricochet” violently through all global financial markets.  Stockman also predicted there will be a worldwide flight to gold during the coming panic which will eclipse the mania seen in gold in 1980.  KWN takes Stockman’s warning very seriously because he is the man former President Reagan called on in 1981, during that crisis, to become Director of the Office of Management and Budget.  Below is what Stockman had to say in this powerful and exclusive interview.

Stockman:  “The markets are just irrationally thrashing around in response to a Fed that has lost control of policy.  They have been working their way to the edge of a cliff, I think, for years now with this massive money printing, bond buying, and zero interest rates.

They are saying through 2015 we are not going to tighten the short-term interest rate, which means it will be zero for (a total of) six years.  That is just crazy, almost lunatic….

“Therefore, the markets no longer function as honest capital markets or money markets.  They are simply a lot of boys and girls and algorithms running around trying to trade whatever they think the Fed is going to do next based on word clouds and these massive daily purchases.

So we have a totally broken financial system and we can expect this kind of turmoil in every one of the major securities markets to get worse as we move towards the final blowoff of this third bubble that we’re in in the 21st century … and it’s only a matter of time before this one blows as well.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/22_David_Stockman_-_Expect_Financial_Collapse_%26_Flight_To_Gold.html

Dubai offers emirate’s top dieters $5,400 in gold coins for weight loss

DUBAI – Dubai’s government will pay residents in gold for losing those extra pounds as part of a government campaign to fight growing obesity in the Gulf Arab emirate.

he 30-day weight-loss challenge was launched on Friday to coincide with the Muslim holy month of Ramadan, when the faithful refrain from eating and drinking during daylight hours.

Many eat too much after breaking the fast, tucking into traditional dishes loaded with fat and sugar that can push their daily calorie intake well above levels outside of Ramadan.

For every kilogram dropped by August 16, contestants who register from Friday can walk away with a gram of gold, currently worth about $42, Dubai’s civic authority announced as part of its ‘Your Weight in Gold’ initiative.

The top three dieters can win gold coins worth up to 20,000 dirhams ($5,400). The contestant has to lose a minimum 2 kilograms (4.4 pounds) to qualify for the contest.

“Participant must have excess weight to reduce and stay away from unhealthy methods to lose weight and should be present on the final day to measure weight,” Dubai Municipality said in a press release.

Health officials in Dubai, the commercial hub of the United Arab Emirates, and in neighboring Gulf nations, are spending millions to control obesity among their citizens.

Oil wealth and high household incomes have led to overeating, high-sugar diets and a heavy reliance on cars for getting around, leading to an explosion of diabetes and other obesity-related illnesses.

Five of the 10 countries where diabetes is most prevalent are in the six-nation Gulf Cooperation Council, according to the International Diabetes Federation (IDF), an umbrella organization of more than 200 national associations.

Dubai is known for its larger-than-life offers. It has a history of giving away luxury cars and yachts in lucky draws and is home to one the largest gold markets in the region. The emirate even has gold vending machines in shopping malls. ($1 = 3.6730 UAE dirhams)

Source: http://www.rawstory.com/rs/2013/07/19/dubai-offers-emirates-top-dieters-5400-in-gold-coins-for-weight-loss/

Commodities Dealer Accepting Bitcoin for Gold

The revelations by Edward Snowden about the illegal wiretapping being carried out by the U.S government have made it clear that privacy is becoming a rare commodity. One company is taking that “commodity” notion literally. Agora Commodities is the first gold, silver, platinum, and palladium dealer accepting Bitcoin for bullion. We already know that you can buy Reddit Gold with it. This is the real thing.

Bitcoin, if you recall, is an untraceable digital “currency” based on increasingly complex mathematical formulas. The currency is extremely volatile, subject to even daily wild swings in value. It is not regulated by any official government organization. And can be used for all manner of illicit trafficking, especially on underground site like the Silk Road, a popular place to score illegal goods.

By taking Bitcoin as payment for a physical commodity, Agora is giving high-risk speculative traders one more way to play the market. And the added bonus is that the transaction can be 100% anonymous. The risk of using such a currency, especially now that it can be transferred to precious metals, raises all sorts of questions about money laundering, organized crime, theft by hackers, and whether terrorists will see this opportunity before regulators get their hands on it.

But the company is going even deeper into anti-spying territory than that. They are offering their customers encrypted service for all their digital correspondence.

Joseph Castillo, President of Agora Commodities commented, “In today’s world, privacy is quickly turning into one of the people’s most precious commodities. I was inspired by an ISP provider in Utah that refused to give his customers data over to authorities when it was not properly requested with a warrant. Agora Commodities first and foremost respects its customers’ privacy. This was the best way to show that respect”.

Questions about Bitcoin are already being asked in earnest in the halls of government around the world. But for now, we find ourselves in one of those heady days where something is loose in the world that has not yet been clamped down on and regulated. There are millions to be made, and someone sitting in a basement somewhere is hacking out the way to do it.

Source: http://www.webpronews.com/commodities-dealer-accepting-bitcoin-for-gold-2013-07