how large their short position is and this is was crucial to the launch of this campaign was rob kirby from kirby analytics he's also with gatorade the gold antitrust action committee and i think maybe we should go talk to him yesterday rob kirby it's two year anniversary of the crash of pay market by server campaign tells what are the latest numbers for j.p. morgan silver short position and how does that compare to two years ago when the campaign started. let's just look at the numbers today the category that captures j.p. morgan silver short measures point five billion dollars us two years ago the same category was measuring four billion us so wrong can purchase j.p. morgan concentrated short position in silver has doubled in the last two years here they are twice as vulnerable as they were two years ago now the price of silver is up thirty percent since the launch of the campaign but they have had to double the

size of their short position in order to keep the price they're now in warfare a large part of winning the war is psychological and they have indeed pushed back the silver liberation army for a while because people are disheartened that the price has not gone up and they just focus on the price rather than the reality of the metrics who's losing ground and if they're doubling their silver position you know it's they who are vulnerable like it's a perfect illustration of what we're talking about several liberation army started on their show two years ago because we're running the world that we're running the global markets we're running the goal of so market thanks to me countries around the world of increased our gold reserves substantially the thirty percent rise in silver of thanks to you for taking it off the market has resulted in the doubling the liability doubling their liability now going forward this year. the price of

silver up one hundred percent let's go from the low thirty's to the low sixty's that would mean morgan would have to increase our liability exponentially from there which means i got the lead on the fed again which means they got to print more dollars again which means that the wicked witch of the us dollar the the currency that is the devil's current seeing is a blend right out of existence this is of course to keep the devil out of the universe the u.s. dollar is the devil's currency we didn't buy physical take it off the market and you're right of satan and as we like every day max ok jamie diamond j.p. morgan is twice as vulnerable to the silver shore as they were two years ago when we launched this campaign now as i said it was a psychological but on part of the warriors of the s.l.a. as well were amber you had that campaign as well somebody took out this billboard in times square five hundred dollars silver if you want it that's right it was john lennon put up a billboard in times square five hundred dollars over it you want it thank you john

so now we guarding this five hundred dollar silver price i think i want to ask rob kirby now we're all what do you think about this can we take silver to five hundred dollars we're skating we're skating on really soon ice one of these days the ice is just going to break and we're not going to just fall into cold water we're going to fall into a lawn and was pissed and you see we can achieve five hundred dollars silver stream a short period of time if. but in the meantime i'm we're still skating on thin ice what is the ice going to break you know the further away from sure you get you know . the bigger the likelihood is you're going to go through thin ice yes well rob kirby makes a good point you know here's an example take a bungee cord and attach it to a cement block and pull it up an incline of approximately forty five degrees where you notice is that you pull on the bungee cord pull up. and g.

chord pulled a bungee cord and then whammo slam oh the block suddenly moves not incremental little gain but up up up up the present server goes to sixty seventy eighty owner dollars an ounce. the presence or goes to two hundred three and four hundred five hundred dollars an ounce who's pulling on a bungee cord well i know that's a very interesting image i just presented to you in t.v. land but don't read too much into it think of it like this the central banks are simply pulling on a bungee cord pulling out all of the bungee cords by printing massive amounts of money to support the bond market and keep the price of gold and silver artificially that brought down the price skyrockets if you're not positioned ahead of time you have to look your. and by the way we're wearing the gold anthem here because we're talking to james turk of gold money in the second half but also i did notice looking through the shops for a silver top that there is

a ratio fifty three to one gold tops the silver tops and kind of where is what's going on in the silver and gold markets right now what usually the ratio is sixteen to one right now fifty three to one and that's something else that kirby says is is a vulnerability to the silver price you know it's going to go up don't only in silver and gold become scarce but so are these jackets baker and so with a jacket like this call now supplies are going fast so this crash j.p. morgan buy silver did ignite a generation silverball goes viral with marketing war max keiser has become a fringe media star thanks to the web excuse a round what's strange about four hundred fifty million viewers worldwide that's not fringe maybe that's media so they talk about your campaign to crash a few more going by silver it's gone viral they say thanks to his effective viral

campaigning his youtube clips have been viewed hundreds of thousands of times got a pope and a following who knew preaching silver it seems can make you a mini media star so i want to look at some of the again i expected something with the word meaning ok we're talking about four hundred fifty million viewers millions of rooms in airport lounges around the world you know you are waiting for a flight right now launching they're still going to learn nothing better to do well let's look at some of the viral videos that he refers to this is a video crash j.p. morgan by silver max kaiser versus jamie diamond from tofu married to has over eighty two thousand views max and the synopsis reis as such jamie diamond played by hitler learned said j.p. morgan is bankrupt due to the success of max keiser crash more by silver campaign no more silver no more hookers all is lost this scene is from the german who. the downfall. if you will. and i'm going to do kind of design

a business you understand there's need to forge. right and we know the ending hitler in this case jamie diamond takes on a loser and brains out of. every story it's a happy hollywood ending. so you know you came up with the slogan crash j.p. morgan by silver and i want to look back in history because actually these sort of slogans have actually achieved major major success and that was stop the duke go for gold and john butler of m four capital who we recently interviewed on keiser report he's the one who first in lighting dust to this movement this was a campaign started by the middle class of britain prior to the eight hundred thirty two reform act which saw basically the house of commons reforms more representation given to the new industrial cities and less given to the what do they call them the rotten boroughs who were very few but the rich lives i mean brooklyn. so however it took three goes to get this reform act in there were protests all

sorts of occupations things happening but no change happened until some protesters advocated nonpayment of taxes and urged a run on the banks saying stop the duke go for gold one point five million pounds with was withdrawn from the bank of england and right away max this reform act was introduced finally the duke of wellington stood up introduce this bill and it passed that's right the people's run on the bank and work historically shows that it works people say that this can't work don't go to talking about don't know history and are turncoats and tyrants working for the other side so we have crashed people working by silver stop the duke go for gold and for the last year and a half or so we've had occupy wall street there is no. other objective to it that they've said now we do strike the occupy wall street movement finally figured out the second half of the purpose for being on the surf and that is to retire debt

from the folks that are imposing debt on the people to bail out the vulture capitalists that's right the people's bail up they've got the people who are retiring the debt so it's tried to detonate a campaign or the people's bailout or the rolling jubilee so it's occupy wall street striked it now know now they have a second hand full of the really no there's no stopping the occupy movement and finally on silver this is bad news for jamie dimon bad news for black mass is bad news for j.p. morgan which has doubled its short position in silver to eighteen point five billion that's not counting their naked shorts by the way silver price increased four hundred percent in three years this is from the telegraph and they point out that the silver bull run will continue says investment specialist ian williams of chargers treasury silver is about to enter a sustained bull market that will take the price from the current level of thirty two dollars an ounce to one hundred sixty five dollars an ounce and we expect this price to be hit at the end of october twenty fifth that's right summer's about to

enter a bull market phase the movement right currently from five dollars to thirty two dollars us just a warm up just a little warm up back a little a little a little more baby for the main course the main bull market action to five hundred dollars announced a server thanks so much for being on the times report thank you max and kraft a few morgan silver satan for the second half of the show we'll be talking to the one the only james turk. resistance to politics but a cultural. it's clear. on its own.

cultures of resistance on our team.

is easy to. see. the ball.

welcome back to the kaiser report i'm ask as a special treat for a special episode time out of stock to the first person i ever enter view it as a financial news reporter james stark of gold money dot com james welcome to the kaiser report thank you max great to see you in person good to see you too all

right james when we first talked to you going back a few years gold was at six hundred dollars an ounce very few people were talking about gold as a matter fact if you remember it was like a. shining gold established seven hundred dollars an ounce a whole lot more people are talking about gold tell us about the psychology of what's going on in the that's brief history yet people are starting to understand gold better than they were you know five six years ago when we spoke for the first time and you know this is a process that's what a bull market is all about to go through three stages the first stage is apathy nobody's paying attention even though gold is good value the second stage happened when we went over a thousand dollars and now it's more people are starting to pay attention the go push continues to rise to third stage which is the speculative stage is still years in the future now starting in two thousand and nine james huge shift in the market central banks went from being that sellers of belts and that buyers of gold mexico and proving their gold position enormously korea and norma's like so central banks

sovereigns are buying gold at the same time a lot of repatriation of gold germany looking to repatriate gold and a lot of people asking is there gold really there so now there's a scramble at the highest levels what's your take yeah you know i think it's understandable you know where we are in this again this process of a bull market people understand that gold is a valuable asset particularly from a central bank level it's a reserve asset you know years ago when we were on the gold standard it made sense to store a country's gold at different locations around the world because they used cool to actually complete payments in international trade but that stopped in one thousand nine hundred seventy one so there's no need to store a country schooled in different locations. around the world gold now acts as a reserve protection in case of currency collapse a rainy day or whatever and in order to control it you have to have it in your own country let me stop you right back to that's an interesting point you're saying that the gold standard classical gold standard even the gold exchange standard sold us how the various banks and as trade deficits. gold would switch around and the

back room to square the accounts and that's how it was used but now we have potentially currency crisis and it's not about gold standards about countries scared to death that their currency is about to collapse as we've seen now in a few countries so if you don't have any or contrary you're out of luck yes exactly you know owning gold is one of the pillars of a country's sovereignty and to control it you actually have to have it in your own wallet so it's not too surprising that the germans are starting to look to repeat to go back to germany given the uncertainty in the problems that we see with the euro all right now of course gold's a wacky cousins and i say wacky cousin because not impinge the integrity of silver but because it falls all the trade and the percentage moves are a lot greater than gold and so this is a it's a wild ride now the ratio of gold to only fifty three to one tell us about what that ratio is and is that kind of out of line with history. you know owning gold is

like flying in a seven forty seven owning silver is like flying in an f. sixteen that's the difference but they're both going in the same direction and they're both ultimately going to have a lot higher so it's a question of which one you want to play or ride in order to get to that final conclusion but this ratio sixty fifty three to one at present it's an indication that silver is cheap relative to gold and again this goes back to the point that there are different stages in the bull market silver still in stage one it won't get into stage two until it goes over fifty dollars an ounce and then people are going to start understanding silver better and basically silver is a substitute for gold fifty three ounces of silver does the same thing that one ounce of gold does for you. money that's outside the banking system because you money without any counter party risk now historically that ratio is sixteen to one so over time i think that ratio is going to move from the fifty's down to the thirty's and eventually below twenty probably reaching sixteen to one like a statement away and giving your thoughts when it first are talking about gold gold as a six hundred dollars an ounce it began its multi-phase bull market if i buy silver

today in the low thirty's is it kind of like buying gold at six hundred feet juxtaposed where they are in their cycles yeah exactly right in the same principle applies to silver that applies to gold you want to buy it when it's undervalued and then ultimately at some point in time in the future you'll want to you know move into other assets that are undervalued and use the overvalued silver but you know that's still years years down the road this is a major bull market just like it was in the sixty's in the seventy's we've got a long time to go all right i want to talk some history here very very interesting getting back to the german gold story you know during the time when gordon brown here in the u.k. sold three hundred tons of the sovereign gold leaving him with just over three hundred tons left in the puts britain in a very vulnerable position to get into this currency called. the browns bottom and of course a lot of brits think that you know gordon brown running around naked on a bicycle but that's not exactly what it is but at the time nine hundred forty tons of german goal was sent back to germany. as part

of their panicky sit you know they start to get nervous that this whole currency thing was going to unfold the current position of germany of three thousand tons does not include that nine hundred tons it's uncertain because the bun this bank doesn't actually report its accounts accurately it reports gold in the vault and gold on loan as one line item but obviously gold in a vault is different than gold that's been loaned out to you know a counterparty so we don't really know the story but one thing that we do know is we do know that in one thousand nine hundred seven a couple thousand tons of gold moved. of the u.k. given the fact that the u.k. is not a gold mine or that it had to come out of the bank of england and so that was probably gold being cycled by the by various central banks perhaps the germans to be loaned into the market or perhaps returned so the dates of that nine hundred tons doesn't necessarily correlate correspond with the gold flows but maybe it was a gold loan that was being repaid back at that moment and ok so they could have

financed that for ten years or so and then finally made good kind of in the dark of the night shipping gold out now that kind of brings to mind what's going on the china speaking about accumulating goal in the dark of the night they are out there scouring the globe for gold ake officially over a thousand tons of gold but i think they're going to have a surprise shock announcements and what they say now what we're going to revise upward are gold from maybe two or three thousand tons what do you see you smiling yeah what's going on there sure well they've they've had three of these announcements over the past ten years where they've had they say they've been buying gold now unlike gordon brown who announced in advance that he was going to sell gold. for whatever reasons that he made that point he the chinese are acting like warren buffett they don't announce in advance when they're buying but they're in the market they're constantly buying when the price dips and you can see this in the physical market the demand for physical market remains strong continuing on the german story because a lot of entry you know it's very you know german and spa and cold war stuff is

that all the gold it's running around so as you know i had reported that in one thousand sixty eight memo sent by the bank of england to the federal reserve reveal that the fed had sent at least one hundred seventy two bad delivery gold bars to london in the late sixty's for safe keeping for the german bund as bank as repayment for swaps another intriguing story i hear a historian as well as a market guru here thought yeah you know i read that story with a lot of interest basically they're pulling the wool over the germans eyes but you have to remember back in the fifty's and sixty's germany was largely controlled by the british the americans and the french you know the occupied berlin based. italy set the stage in west germany for the rebuilding of the german economy and so they had a strong hand in german politics but you know here we are you know fifty years later sixty years later we should be thinking differently you know germany has been unified it's a major power major political force within the euro so it's sort of logical that they would want to bring their gold back and i think they should since we've been

talking now going back to the ancient perry of two thousand and five two thousand and six that time to get the gold antitrust action committee was was the only one out there saying you know goal is being manipulated the price of silver is being manipulated and they they were vilified you know across the spectrum people saying you guys are paranoid conspiracy theorists since the time we found alive or massive interest rate rigging the whole multi hundred trillion dollar scandal we've got massive rigging in the energy markets now exposed here in london we've got massive fraud from the biggest banks h.s.b.c. barclays j.p. morgan goldman sachs there's an investigation h.s.b.c. for silver rigging it seems that if it if it quacks like a duck maybe it's a duck i mean the price of gold is all over is it gets a right james stark yeah absolutely you know they've been right for ten years and in order to understand the movements in the market you have to know what data knows you have to understand you know how the markets are being manipulated you know it

used to be that governments followed manipulated their currencies in order to match the purchasing power of gold now they're manipulating gold to try to match the ever diminishing purchasing power of their currencies you know that's the basic principle because if you control money you can control an economy and if you control an economy you control those people and that's what governments want to do these days when did that flips take place it was really you know over the whole twentieth century you know twentieth century is one of the increase in government control but certainly nine hundred seventy one when he was close the gold standard and that financial eyes global economy and what you just talked about kicked in yeah that was one of the last nails in the cough and you know just. there's a link between human liberty and gold this is what gets the gold bugs so religious because what gold does is it impose discipline on government spending it government cannot create gold out of thin air but it can create paper money out of thin air to increase its power and that's exactly what's been happening over the past several decades and it's led to all of the financial imbalances and problems that we have today so we have to go back to gold government so i think to go back kicking and

screaming or they're going to go back willingly hopefully they'll go back willingly people who follow you know a lot of times i see wal-mart. have as you on often and you know you come up with these these jewels these pearls that are fascinating you or over his site and you're talking about how food stamps versus jobs this is an interesting metric that gives you a real clear picture what's going on so yeah last week the u.s. department of agriculture announced the august numbers there were for over four hundred thousand people getting food stamps in that month and i compared it to the ninety six thousand people getting jobs that month so you know despite all the hype about the economy doing well it's quite clear just from this metric that you know with four times more people getting food stamps and getting jobs the economy in the united states is still doing very very poorly are food stamps included in the money supply. i don't think so but they probably should be you know forty seven million americans now rely on food stamps why can't they call and ask. as anything like

a. new type of quantity of money absolutely i mean it's a mess like how would a bomb going for really about thirty seconds bomb barack obama re-elected that seems like more of the same. you know ron paul the other day said that we've already gone over the fiscal cliff i think he's right we're just going to see how we land we went over the fiscal cliff i think in seventy one when we took the dollar off the gold standard and created this opportunity to have a lot of money printing and debasement of the dollar hopefully it's not going to be a terrible situation but as i say governments have to go back to gold and hopefully they'll do it. willingly and by that i mean they have a five or ten year plan to go back to gold and everybody understands and understands the plan but concerned that that's not actually going to happen ok so the takeaway for me from this interview is that if you think all is too expensive at sixteen or seventeen dollars an ounce then buy silver it's like buying gold back on a six hundred dollars an ounce absolutely if you're prepared to take the volatility

of silver compared to gold by silver. yeah that's what i like to hear all right that's all the time we have james starr thanks so much for being on the causeway report thank you max this was a pleasure to speak with you all right and that's going to do it for this edition of the kaiser report with me max kaiser and stacey have been with my guest james turk of gold money dot com if you like the same e-mail please do so at kaiser report of r t t v dot are you saying. give him a note so we have a little. groups of the colors of. all our views in the right you know my mouth it was like man yeah that might h. but wasn't. this money when i was fourteen yes you can liberate there when

he certainly can't do it through the barrel of a gun to the social changes can be the afghans themselves afghan men and women we believe are going to spawn cannot. wait out the patient it's up to the shop and it comes to actually stop people in the obama administration talking about how much they care about the women of afghanistan it's not true they don't care about the women of afghanistan. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize that everything you thought you knew you don't know i'm tom harpur welcome to the big picture.

well into the. science technology innovation hall the least developed around russia we've. covered.

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