Largest Capital In The World Now Entering Gold & Silver Space!

Today Rick Rule told King World News that the most massive and most intelligent pools of capital on the planet are now looking to crowd into the gold and silver space.  This is huge news for a sector that has been in a state of consolidation for over a year, and strongly supports the thesis that 2013 will be a banner year for gold and silver.

Rule had this to say about this extraordinary development: 

“The things that support the thesis, particularly with regards to the gold equities, has been the approaches Sprott (Asset Management) has gotten from the very largest sovereign wealth funds in the world, and the very largest suppliers of private capital in the world.”

Rick Rule continues:

“It’s interesting to see the big money starting to be attracted to the sector.  It’s interesting to see that point of view being shared by the largest aggregations of capital on the planet.  There are oceans of capital looking for a home.

There are literally trillions of dollars looking for a home….

Continue reading the Rick Rule interview below…

 Related:

IMF Admits Western Central Banks Actively Manipulating Gold Market

“Holy Grail” Gold Evidence Panics Western Central Banks

 King World News

Today King World News wanted to discuss what has been termed as the ‘Holy Grail’ of evidence which implicates Western central banks in actively manipulating the gold market.  This has Western central banks deeply troubled because the information was never supposed to become public.  Chris Powell, who has been focused on uncovering this type of sensitive information for 15 years, told KWN,

“This is as authoritative (an admission) as we are likely ever going to get that central banks are actively involved, in secret, in the gold market.”

Here is what Powell had to say:

“Eric, this is a report written to the executive board of the International Monetary Fund from March 1999 about the efforts of the IMF staff to improve accountability in world central bank accounting.  The report explains how the IMF staff proposed to require central banks to distinguish their gold loans and gold swaps from their gold reserves so the world could see exactly how Western central bank gold reserves were disposed.

The report goes on to explain that when the central banks saw that accountability would be demanded of them for their gold loans and swaps, they panicked.  The report says that the central banks surveyed by the IMF staff objected to this precise accounting of their gold reserves.

They said disclosure of gold loans and swaps would be what they called, ‘Highly market-sensitive’ and disclosure would interfere with their secret interventions in the currency markets.  This is an admission….

Continue reading the Chris Powell interview below…

Calif. gas prices jump by up to 20 cents overnight

Source: SF Gate

SAN FRANCISCO (AP) — Californians woke up to a shock Friday as overnight gasoline prices jumped by as much as 20 cents a gallon in some areas, ending a week of soaring costs that saw some stations close and others charge record prices.

The average price of regular gas across the state was nearly $4.49 a gallon, the highest in the nation, according to AAA’s Daily Fuel Gauge report.

In Southern California, the price jumped 20 cents a gallon overnight to $4.53 in Ventura. And in the Los Angeles-Long Beach area prices went up 19 cents to nearly $4.54. And it wasn’t any better to the north, as a gallon of regular gas in San Francisco averaged nearly $4.60.

In many areas, prices have jumped 40 cents in a week as refinery problems have created shortages and helped send wholesale prices soaring. Some stations ran out of gas and shut down Thursday rather than pay those costs.

Even Costco, the giant discount store chain that sells large volumes of gas, decided to close some stations, the Los Angeles Times (lat.ms/OGwEV2) reported.

“We do not know when we will be resupplied,” read a sign at one Southern California Costco, according to the Times.

Other gas stations charged more than $5 a gallon. The Low-P station in Calabasas charged $5.69 Thursday. The pumps bore hand-written signs reading: “We are sorry, it is not our fault,” the Times said.

While gas prices have spiked around the nation, refinery outages and pipeline problems have added to woes in California.

Among the recent disruptions, an Aug. 6 fire at a Chevron Corp. refinery in Richmond left one of the region’s largest refineries producing at a reduced capacity. A power failure in Southern California has affected an Exxon Mobil Corp. refinery, and a Chevron pipeline that moves crude to Northern California also was shut down.

The national average for gas is about $3.79 a gallon, the highest ever for this time of year. However, gas prices in many states have started decreasing, which is typical for October.

But in California, gasoline inventories are the lowest in more than 10 years — a situation made worse by the state’s strict pollution limits that require a special blend of cleaner-burning gasoline during hot summer months.

Patrick DeHaan, senior petroleum analyst at GasBuddy.com, said he is seeing the highest prices in the state around Los Angeles, where on Thursday at least five stations have crossed the $5 a gallon mark, including $5.29 in Burbank and $5.11 in Norwalk.

Prices will keep rising, he says, because in the past week wholesale gasoline prices have jumped $1 a gallon, but average retail prices have increased only 30 cents.

“This is one of the easiest forecasts: Retail prices are going to skyrocket,” DeHaan said.

The jump in wholesale prices can be particularly tough on independent gas stations that often pay more for their gas because they are not part of a larger chain.

Tom Kloza, chief oil analyst at Oil Price Information Service, said he’s heard of a few California station owners shutting their pumps rather than charging the $4.90 a gallon or more necessary to break even.

“Wholesale price increases lead to retail price increases,” Kloza said. “But there is some restraint among companies who do not want to exercise their current pricing power and irritate their customers.”

Some analysts think prices nationally will begin to decline soon but say California could see a longer spike given its unique fuel requirements.

“Nationally, I believe most prices will wobble to and fro for the next week or so, with an eventual slow but steady attrition in retail gas prices, particularly in the Midwest and Southeast,” Kloza said. “California is a wild card.”

___

AP Energy Writers Jonathan Fahey in New York and Sandy Shore in Denver contributed to this report.

Related:

Richard Russel – Gold to Save World From Drowning in Debt

Source: King World News

The Godfather of newsletter writers, Richard Russell, believes gold will be used to save the world which is drowning in debt.  Here is what Russell had to say:

“The national debt of the US is now well over $16 trillion and growing at the rate of over one trillion dollars a year.  It can never be paid off through the ‘normal’ means.  Paying off by normal means would entail a huge, really killer boost in taxes and a brutal unmerciful, slashing of entitlements.  The only way the US’s debts can ever be seriously addressed is to devalue the dollar.”

Richard Russell continues:

“The US owns the world’s greatest hoard of gold.  Here’s what I think the authorities have to do.  They should unilaterally, overnight raise the price of gold to a high value, maybe around $10,000 an ounce.  Thus, each dollar would be worth one ten-thousandth of an ounce of gold.  This would allow our enormous debt to be paid off with vastly devalued dollars.

Continue Reading @ King World News…

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