buy pilex without a prescription from canadian pharmacy max dose of metformin xr differin gel buy online uk ambien drug interactions 8 mg zofran purchase what is the antibiotic suprax used for malegra fxt 100 when the truth hurts i pop pain pills lyrics caverta prices at costco what does claritin treat buy ephedraxin in uk where to buy cheap generic prandin detrol pills sweat where to get lithium orotate in canada diovan generic wiki luvox dose children diovan hct 320- 25 mg where to buy doxycycline hyclate 100mg isoniazid sale reactive arthritis duration buy wind brahmin buy online alesse generic xenical online without prescription can you buy lozol in ireland is nexium generic yet cialis jelly perth australia what is protonix 40 mg used for lexapro medicine for anxiety bactrim express canada nike air max 95 og 2013 program assistance for cardizem extenze same viagra skelaxin 40 mg dose asda viagra price can you buy online cheap hyzaar brafix without prescription singulair dosage pediatric licensed pharmacy prilosec buyers of eldepryl canada dulcolax online usa indocin dosage acute gout where to get nolvadex pct what is roxithromycin drugs metoclopramide mexico pharmacy ulcers is there a drug comparative to voveran sr lady era wanted online review generic drug pletal brand advair diskus online forum generic over counter alphagan is viagra prescription in canada yasmin purchase in canada no prescription trimix computers sodium diclofenac 50 mg dosage where can you buy periactin buy nizoral 1 percent shampoo buy plavix lowest price female cialis in canada buy sertraline 100mg tablets vytorin 10 40 price hyzaar low cost indian generics online nootropil nitrofurantoin antibiotic class medicine from canada online zestoretic bonus pills best rated male erection pills amitriptyline shortage 2012 thyroxine hormone action diclofenac prescription dosage what does cialis cost in canada comprar prometrium online oral jelly kamagra side effects super tadapox retin a gel online uk mentax dosage too high sumycin cheap price kroger pharmacy newport ky hours common side effects of roxithromycin valtrex drug classification lopid overnight pharmacy american olanzapine buy luvox tablets usa aleve medicine arthritis nexium long term risks can buy cialis spain cordarone generic wikipedia drugs buy reglan from canada abilify drugstore dramamine prescription coupon purchasing nymphomax online uk side effects of protonix + weight gain cvs pharmacy hours near me confido without insurance is there a generic abilify seven second red pill naprosyn brand positioning taro mupirocin side effects when will generic allegra be available over the counter what is saw palmetto for hair loss lipothin pharmacy prices list brand cialis buy online ireland cost of depo provera in india over the counter viagra substitute walgreens duphalac price purchasing flagyl er online uk buy depakote us valproate sodium buy valtrex online no prescription purchase antabuse 500mg how much does ventolin hfa cost without insurance femara how to buy levitra 20 mg how to take clozaril order actos 1 diabetes online canadian pharmacy motilium drugs fucidin h cream over the counter ivermectin pour on for dogs generic viagra buy online canada buy didronel perth australia pamelor dose migraine order olanzapine overnight baclofen pas cher nexium with prescription super active no prescription buy levitra pharmacy ordering synthroid buy trial erection packs 1 mg mirapex sold over counter pamelor online coupon code buy paroxetine in ireland crestor now complementary alternative medicine back pain utilization metformin over counter generic keflex usa pharmacy lopid online overnight shipping generic actos canada generic carafate overnite shipping what does omnicef 300 mg treat viagra super active drug canadian pharmacy big accutane pills citalopram medication online much does aricept cost uk integrated medicine alliance p a shrewsbury nj tofranil recommended dosage purchase lantus cheap noroxin generic 2013 drugs clomiphene fertility associates best place buy coumadin pct zentel 200 mg prospect side effects of glycomet 500 finax prices at costco long time side effects speman buy trazodone sleep order atorlip-20 tablets pelicula un rey en la habana online what is drug robaxin-750 eurax pills drugstore cialis brand no prescription how long does it take for keppra to leave your system where to get ceftin bentyl medication reviews without a script abana online buy cod erythromycin pregnancy bnf cefixime antibiotic usage can you buy trileptal in ireland requip tablets dose buy generic lisinopril online fertomid online coupon code buy himcolin online from usa what does propecia actually do synthroid where to get cardura 10 mg cost original lopid online how much does olanzapine cost without insurance mobic prescription medication where can i get liquid paxil online apotheke nl slimming tablets uk t5 clomid success stories 2008 zyvox online coupon code serevent italiano 400mg flagyl medicine buy liv dolls canada tadalis sx tablets us online ordering minocycline here in canada cost of cephalexin 500mg prometrium uk next day delivery letrozole buy canada acai berry discount now finax pharmacy2home cymbalta no prrescription levitra from bayer what is inderal 40mg tablets viagra nhs prescription price full practice guidance otc tamsulosin order celebrex 100 mg eurax rxlist super viagra active to buy decadron online pharmacy discount nootropil tablets from buy generic ciplox overnite shipping how much will mentax cost inderal 10 mg /indications retin a micro gel for acne reviews aygestin legal in england order coreg us how to buy lithium mometasone furoate monohydrate nasal spray can you buy triamterene over the counter purchase bystolic canada cheap nootropil pills what does valtrex treat other than herpes how to by atacand online buy valtrex in singapore buy ceftin in india online where to buy evista online mexico cheapest paroxetine drugs mg what are the side effects of zyloprim maxalt online usa no prescription buy generic lipitor para que sirve glucofage xr 750 mg metoclopramide tablets during pregnancy viagra and other medications buy lisinopril mg online for what does betnovate n do diclofenac sodium side effects uk prescriptions by mail tricare side effects of cefixime and azithromycin costco pharmacy medrol price cleocin no prescription reviews levitra vs staxyn viagra legal singapore indian pharmacy serpina quiero comprar altace buy alesse 23 where to buy yasmin pills low online acticin without where to buy gasex ephedraxin delivery uk where could i buy propranolol without prescription generic liv 52 safe clozaril fast canada unique hoodia best price arava power company solar energy what does the drug norvasc do claritin online coupons nexium without a prescription lotensin fast usa elocon now co uk viagra to buy in uk worldwide pharmacy dutas cheap tadapox free delivery floxin 400 mg tablets propranolol without priscribtion danazol over the counter allegra indianapolis pyramids lipitor patent expiration can you use fucidin on cold sores buy cymbalta online at canada pharmacy zovirax cold sore cream children baby clothes in australia buy online benemid pills american diovan medicine glucophage 500 mg buy generic sominex online side effects of phenergan medication cheap lithium battery camera buy celebrex from canada what is best viagra levitra or cialis lamisil birth control online india himplasia brand positioning safe place order diclofenac cheap avodart no prescription brand zyprexa for sale buy geriforte pills depakote by mail ou acheter le xenical quinine tonic water malaria order retino-a cream 0,05 overnight micardis without prescription miami buy cheap speman using pay pal overnight elimite zovirax uk brand name diamox australia pharmacy comprar stromectol online 150 mg viagra for sale flovent prices prometrium where to buy in canada avapro over the counter 150mg generic female viagra buy aciphex online selling prozac vs paxil vs celexa how to buy nizoral shampoo can we trust cymbalta online wow where to learn polearms alliance valtrex for cold sores does it work zedd 500 for sale finax uses medication canadian healthcare vs uk lady era discount medications 1000 games for kids cheapest price strattera propecia women buy florinef overseas cialis levitra viagra sample pack generic viagra nizagara generic allegra d canada where abilify generic nolvadex 10 mg for men indian pharmacy tinidazole can you buy cialis jelly in ireland tadalafil online drug buy amoxil mexican pharmacies trandate from mexico atarax dose for anxiety finpecia discount drugs phexin women buy what over the counter pill works like viagra how to by lasix online flomax generic usa is cytotec an over the counter drug no prescription prilosec sale renagel no prescription reviews haldol decanoate spc what is promethazine vc codeine syrup for cheap bentyl pills prescription valtrex medication guide can you sell viagra on ebay viagra super active for men in usa can you take viagra with atrial fibrillation zoloft non perscription countries nolvadex generic online how long does citalopram take to work for anxiety most effective depression and anxiety medication indian albendazole manufacturers diakof cost in canada drinking alcohol while taking prednisone buy viagra professional in uk diovan discount card 2011 alphagan tablets uk no prescription ralista sale proscar prices cvs cheap lithium ion drills toronto drug store delivery keflex side effects fatigue generic for actoplus met 15 880 propecia usa online pharmacy what are the symptoms of anxiety ordering zenegra usa recreational viagra usage purchase lexapro voltaren 50mg novartis cytoxan pill shop discount code dosis aciclovir para tratamiento herpes zoster buy ponstel pills nexium price in india purchasing atorlip-20 online uk prograf medication dosage erythromycin ethylsuccinate 125mg side effects of long term use of premarin hydroxyzine dosage for allergies generic meclizine usa pharmacy colospa discontinued what is the best viagra cialis or levitra indian pharmacy voveran sr brand amoxil tablets hoodia echeck buy cheap lisinopril pills flomax online in uk inderal weight gain depression venda alli internet justice flovent medication for asthma suprax medication uses canadian drug regulatory agency buy dapoxetine in canada midamor costco efectos colaterales sertralina 50 mg how to get clonidine on line where do i topamax in india midamor in the uk now genuine zyban best price what is the dose for mobic lukol discount voucher bergamo albenza golf club safe to buy generic nolvadex from uk online pharmacy propecia no prescription viagra for sale online cheap canadian alesse prescription pills cialis super active medication order the pharmacy express reviews pulmicort supplier in uk generic form of yasmin birth control pills keppra pills can you buy ginette-35 in ireland order erythromycin pharmacy side effects of actonel mayo clinic nizagara tablets for purchase sertralina de 50 mg efectos secundarios ranitidine with no rx purchase remeron without prescription pharmacy online canada+viagra innopran pills buy risperdal medication avodart buy usa colchicine fast mexico arimidex dosage bodybuilding meloxicam tablets 15 mg meclizine sold in canada can you buy requip glycomet prix en pharmacie en france liquid nolvadex reviews where can i get vytorin pills buy serophene online overnight coversyl 5mg best site get coumadin buy revatio from mexico online how to use caverta 50 buy elocon ointment buy estrace from canada differin buy canada retin-a 0,05 reviews online pharmacy order propecia 5mg buy meclizine online usa celebrex discount program norvasc discounts pletal visa minocycline generic buy anxiety medication over the counter uk lotrizone without prescription what is cytotec drugs vermox tablets dose buy periactin tablets uk prescription unisom sleep aid wiki aurochem pharmaceuticals pvt alli over the counter coupon loss program where can i get plavix for free ditropan over counter uk what is erythromycin ethylsuccinate used to treat buy furosemide paypal accepted if viagra does not work can betnovate n used face what is tegretol tablets lov cost alli can you buy cialis professional in ireland 20mg 5mg is there a generic drug for zoloft generic medrol usa pharmacy comprar prandin portugal reviews on hoodia diet pills how much does accutane cost in canada without insurance viagra from canada online no prescription generic norvasc amlodipine besylate nifedipine tablets side effects norvasc online bestellen where is a safe place to buy generic viagra zebeta 100 review grapefruit juice and nifedipine interactions where can i buy betnovate ointment xenical for purchase ortho tri cyclen fda approved to buy without prescription canadian prescriptionc asthma treatment plan brand viagra medication side effects can you get high off sertraline hcl 50mg ventolin drugs online purchases kelly lynch drugstore cowboy generic plavix news lariam gu"nstig online voltaren retard 75 mg beipackzettel buy levitra in australia citalopram hydrobromide oral tablet 10 mg zoloft weight gain why extendaquin uk online can buy ciplox online sarafem canada drug store discover adventure ltd i pill diclofenac gel website ditropan dosage hyperhidrosis purchase vpxl can buy voveran online can i order lasix online selegiline dosage adhd side effects of fluoxetine with alcohol order proscar online canada ampicillin generic and brand name how much is viagra on prescription zenegra uk brand name side effects of lamictal xr how much does fluoxetine cost at walmart compare prices brand amoxil why is there a shortage of aristocort premarin side effects long term use order luvox pill can you buy femcare online how much will seroquel cost online pharmacy uk zanaflex buy generic nitrofurantoin with bonus periactin prescription finax cheap uk ginette-35 perth australia side effects of long term use of bupropion safe viagra jelly buy promethazine dose for sedation buy alesse birth control online drug india prevacid price canine cephalexin dosage canada generic drugs manufacturers fincar online pharmacy uk does taking singulair cause weight gain buy xenical no prescription fast delivery valtrex price walmart cheap zestoretic 100 mg wellbutrin sr 100mg twice a day free canadian family tree sites cefadroxil dosage for uti what is viagra plus pills used for suppliers of mevacor in us flomax mg no prescription snovitra super power sold over counter erection packs 2 dosage ketoconazole cream side effects nootropil user reviews prednisone generic trade name cheap tinidazole pills buying ciplox using paypal billig prevacid online kaufen panax ginseng plants for sale famvir delivery hydrochlorothiazide no prescription online sildenafil side effects+pulmonary hypertension risperdal canada desert sky pharmacy peoria az can i make serophene actos 45mg tablet buy cheap retino a cream 0,05 eutroxsig thyroxine tablets side effects quickest maxalt ppw chennai india where to buy confido in canada safely meteo live in italia periostat reviews reductil slimming tablets reviews calan tablets side effects cystone prices usa how to use zocor mupirocin ointment usp 2 diaper rash amantadine india amantrel pms ditropan price india cipro where to purchase olmesartan medoxomil and amlodipine tablets what is the proper dosage of aleve where to buy terramycin for chickens aldactone 20 mg aciphex overnight lasix online uk recommended dosage neurontin fibromyalgia tricor legal in england onde comprar acai berry em portugal snafi tablets can amoxicillin treat chlamydia and gonorrhea online what type of medication is nitroglycerin can you buy nexium over counter canada buy geriforte without rx cheapest place to buy tinidazole is zetia a statin medication clomid ovulation calendar ovulate what is the dosage for ciprodex is viagra available over the counter in dubai can you get duphalac buy generic omnicef use cytoxan coupon online buy propranolol online mexico no prescription dosis pediatrica de aciclovir non prescription himplasia pharmacy fucidin h ointment discontinued metronidazole 500mg side effects in women actos maximum dosage what is the normal dose for citalopram buy kamagra online cheap binotal ampicillin 1000 mg universal pet meds canada coupon generic elimite permethrin levofloxacin eye drops usa drugstore review buy phenergan online no prescription canada aspirin comprare online pharmacy zebeta is there a drug comparative to pravachol how many dramamine does it take to hallucinate buy kamagra soft sominex for dogs buy cheap inderal pills xenical for sale philippines genuine hydrea best price atacand hct rxlist cheap mentax uk purchase generic requip augmentin generic cost where to buy allopurinol cost buy hyzaar with visa purim shopping buy ampicillin pills in the uk propecia shopping how to use liquid cialis best price celexa where to buy zestoretic drugs online where to get benadryl generic erythromycin india mebendazole breastfeeding where to buy cheap generic proventil buy xanax online no prescription canada trazodone 50 mg tablet buy xeloda without rx lansoprazole side effects nhs what does mean in italian allegra baby names what types of levlen are there como comprar xbox live gold sin tarjeta de credito buy nimotop mg online side effects of ventolin inhaler what is aspirin good for fever how to buy periactin online cheap lotensin uk generic viagra australia legitimate viagra generico buy generic vpxl online cialis professional best price where to buy cheap generic dipyridamole lansoprazole best price no prescription canada pariet package insert silagra prescription requip withdrawal symptoms tamoxifen mg mexico pravachol tablets us online endep 10mg will it gain weight trandate looking for what does ceftin do vpxl pharmacy order benemid discount drugs from canada without prescription such as xenical revista tu online agosto 2012 kamagra oral jelly overnight shipping cheap online birth control purchase ampicillin dosage forms buy antibiotics no prescription uk diovan generic for mestinon over counter levaquin order in the us advair diskus without prescription medication what is retail price of prograf ordering metformin uk seroquel drug schedule american adalat price increase unisom where is chewable motrin bupropion 100mg cheep can buy cialis canada purchase tinidazole in australia nizagara usa sale legal to buy cialis low cost betapace order trileptal online no prescription with a amex where can i buy lopidine can you buy menosan in ireland diovan hct 320mg 25mg tablets cheap plavix canada para que serve o medicamento sertralina 50mg 1 05 tretinoin how to use zithromax for chlamydia lithium order of reactivity buy diamox pills cheap adalat uk s cool physics bactrim 100 mg mevacor mg buy can youtube buy levitra professional in ireland viagra minomycin prices at costco prescription drug fertomid best site to buy reminyl what do claritin d pills look like where to buy lithium battery lexapro no prescription reviews where can i buy acai berry tea how does levothyroxine compared to synthroid uroxatral on line no script best online pharmacy review can you buy prograf over the counter women using viagra recreationally comprar propranolol portugal buy lioresal mexican pharmacies azithromycin tablets ip 250 mg kroger pharmacy anderson prednisolone eye drops over the counter discount hydrea is there a difference between synthroid and levothyroxine buy augmentin cheap amoxicillin clavulanate nizoral pill shortage aceon prescription drugs dipyridamole mg tablet allopurinol drugs online purchases bupropion side effects itching isoniazid 100mg cheep blopress australia pharmacy calan mg canadian rx mexican silagra indian advair diskus can i make shuddha guggulu where to purchase anacin buying nootropil from canada no prescription cheap requip india health canada colchicine a amoxil 500mg side effects inderal costco free online birth control presription cheap actoplus met topamax uk online is mail order viagra legal zebeta brands india where to buy prandin order propecia on line uk best generic benadryl sites is mircette low dose what is suhagra for pharmacy that sells toprol xl cheap tadalis sx 40 mg western drug zebeta 365 pharmacy stockton opening hours doxycycline hyclate rx buy saw palmetto oil australia lowest price starlix comprar cialis generico online espan~a what is the cpt code for depo provera buy ginette-35 online overnight comprar rogaine 2 original en madrid vytorin zetia coupon innopran medication overnight delivery isoniazid by mail order levitra professional direct pharmacy generic actos 45 mg where lithium can be found in nature online pharmacy uk rumalaya gel tadalis sx no prescription reviews cipro pharmacy mail order buy allopurinol generic online cabgolin cheap canada pharmacy cost of crestor in mexico lisinopril 2.5mg tablets symptoms of chlamydia in women oral wet hot american purim purchase sinequan online celexa delivery viagra alternatives otc order propranolol medication interaction between flagyl alcohol original malegra fxt online cyklokapron prices usa canada supreme court viagra patent benadryl cough syrup price in india can you buy oxycontin at mexican pharmacies lexapro 10 mg price walgreens fluoxetine dosage instructions elavil online coupon code order glucotrol xl medication by mail to buy deltasone prescription online without where did the name aspirin come from lexapro pharmacy order purchase generic benfotiamine get prescription online doctor canada tegretol dose for epilepsy what does detrol treat long time side effects colchicine can you split amitriptyline pills buy diltiazem online from usa aarp prescription solutions phone number what is in the drug prednisone zebeta overnight cheap clomid 100mg online desi tashan nach baliye 5th january 2013 episode pariet discount price long term safety of propecia drug market order benzac diamox drugs for sale where is game of thrones filmed 2012 discount pharmacy paris vigra vegetal 200mg buying wellbutrin sr in manchester maxaman canada prescription amaryl over the counter cordarone medication dose start use cialis soft coupon online where to buy otc testosterone cream apcalis oral jelly (generic cialis) zovirax side effects pregnancy no rx diltiazem online buy detrol pills buy tamoxifen penegra order low price brand levitra uk buy fml forte online usa nexium esomeprazole magnesium trihydrate imuran medication crohn;s disease wellbutrin uk prescription can i make etodolac tamoxifen dose lithium shop net cheap buy antabuse disulfiram order elocon cheap where can i buy prednisolone online without a prescription buy cardura online without a prescription diltiazem 100mg cheep methotrexate cost does lisinopril 20 mg look like generic finpecia usa where can i get digoxin from where do i lasix in mexico what does elavil do to the brain como comprar o orlistat adalat discounts codes what does the drug singulair do intrathecal baclofen trial dose estrace legal us buy retin-a 0,025 in india online lanoxin in italia comprar cefixime en argentina singulair para que se usa bactrim ordering information without rx viagra details cleocin shortage 2012 can i buy yeast infection pills over the counter micronase tablets 150 mg comprar imuran original mail order acyclovir pinworms albendazole dosage where can i order dapoxetine buy erythromycin usa promethazine dosage for 6 year old onlain kino augmentin 500 mg tabletas universal drugstore canada complaints buy precose mexican pharmacies brand viagra buy online mexico ordering domperidone canada mixing alcohol and roxithromycin noroxin side effects skin no rx avapro online buy cialis viagra canada is tetracycline an over the counter drug nevada licensed canadian pharmacy cgv online pharmacy alesse online prices buy pfizer viagra patent extension accidental overdose effexor xr generic fincar cost retin a micro gel for acne nexium 40mg nexium dosage efectos secundarios del citalopram 20 mg pravachol barato i pill wellbutrin sr website ceftin antibiotic and breastfeeding where purchase liposafe canada pharmacies online that sell doxycycline cytoxan pharmacy is there such a thing as generic levitra where to buy hydrochlorothiazide with mastercard buy aciclovir in uk cheap sale buy amoxil discount code for actos vermox online overnight shipping ventolin hfa 108 clonidine reviews topamax from india natural viagra men india best place to buy letrozole bodybuilding cialis sales 2014 buy viagra uk online paypal levitra super active uk boots buy amoxicillin without prescription cialis from singapore spam canadian pharmacy me'dicaments et viagra urispas canada overnight delivery buy betnovate without a subscription what is evista side effects ranitidine interactions other drugs buspar from canadian pharmacy best place to buy amitriptyline in usa periostat generic prices biaxin drug store online tamoxifen online canadian a comparison of sustained-release bupropion and placebo for smoking cessation buy zaditor usa cheap xeloda free delivery what does rosuvastatin do order nolvadex in does flomax have generic equivalent allopurinol from india buy malegra fxt from india what is erythromycin ointment used for in newborns buy phenamax online from usa cost of lipitor generic vet meds online uk sertraline reviews my canadian pharmacy corp lamictal rash lawsuit how to purchase lotrisone online mail-order etodolac how to buy wisconsin ginseng acquisto inderal sicuro online kamagra oral jelly tablets side effects tegretol overnight shipping cheap benadryl side effects long term use medicine for abortion in uae can you buy zetia online health benefits and side effects of korean ginseng erythromycin 250mg gastro-resistant tablets side effects retin-a 0,025 without script buy prednisolone without a prescription from canadian pharmacy order live lobster uk endep medicine side effects phone in order for dilantin what are the side effects of misoprostol neurontin online cheap torsemide with american express protonix cheap uk purchase seroquel in canada zetia how to buy olanzapine from india what does the depo provera shot do pyridium prescription only acai with green tea capsules review warfarin overdose elderly buy blue pill uk geriforte supplier in uk list of prescription pills that get you high levaquin side effects can you buy viagra super active in ireland big discounts thyroxine tablets buy online buy nizagara without prescription buy aciclovir mg online for erectile dysfunction treatment. how do these drugs work lopid 300 mg ??? orlistat generic reviews prescription lamisil generic i want to pay some flomax thyroxine binding globulin normal range buy alli cheapest approved north indian pharmacy reviews generic diabecon cost are dulcolax suppositories over the counter diclofenac delivery relaxant the online drugstore himcocid wellbutrin xl no prescription how long does it take for hoodia pills to work ciprobay side effects midamor over counter canadian pharmacy exam volume 2 how to take keflex for acne vermox medicine dosage prednisone cost comparison cost of nitroglycerin cream where to buy celadrin can i make lithium aldactone prix en pharmacie en france internet drugstore comprar doxycycline online metformin sale online nolvadex purchase canada zoloft in croatia how much is atorvastatin at walmart what does tegretol look like buy atarax hong kong canadian online cheap canada augmentin tablets online sertraline hcl user reviews cheap generic altace generic prevacid solutab for infants fertomid no prescription compare prices what is the cost of testosterone therapy zithromax price in malaysia latest news on actos lawsuit cheap pharmaceutical stocks 2012 claritin sale week strattera bonus pills where can i buy sildenafil online acticin no prescription overnight delivery generic zanaflex cost no prescription avapro where to buy viagra sublingual ointment fincar on the internet buy cordarone 100mg online aristocort overnight taking valtrex before delivery buy clonidine uk samples what is a brand name of sildenafil citrate purchase clomid on line in australia what is stromectol 3 mg used for cheap betoptic free delivery vente de lamisil au quebec topamax mg no prescription best place to buy diovan in uk nexium prescription only medication purchase accutane on line in canada fast vermox delivery benicar price at walmart adderall rx online full alli weight loss samples with free shipping gout attack treatment allopurinol celebrex results forum ralista cheap where do i silagra in usa cialis profecional famarcias metronidazole orally flagyl 500mg how to take alli orlistat can i get nymphomax provera barato order sominex online precose over counter buy retin-a 0,05 in ireland ampicillin 500 mg valacyclovir hcl 1 gram tablet shingles what is the recommended dosage for zyrtec best pharmacy to order flagyl er elocon ordering no prescription buy coreg cr canada fast alavert deleviery generic avodart available maxalt tablets cost trileptal pas cher italie where to buy estrogen pills the chepest bystolic where can i buy levlen tablets advair diskus coupon printable benavides pharmacy reynosa mexico where can i get kamagra oral jelly pills baby aspirin ttc actoplus met drug classification do you need rx erexin-v cost of generic flomax get tretinoin 0,05 las vegas pharmacy mexico asacol clorfenamina compuesta tabletas para que sirve clomiphene citrate 50 mg dosage benzac 5 gel onde comprar amantadine medication generic pyridium buy canada best confido prices plendil canada prescription buy revatio without a prescription from canadian pharmacy glyset pill shortage buy floxin in usa minocin next day delivery coversyl medication definition online certified medication aide courses hydromorphone vs morphine allergy warfarin alternatives australia cheapest himcolin best indian pharmacy online buying retin-a 0,05 in manchester generic lotensin usa buy zetia no prescription fast delivery half price femara tadalis sx tablets lariam uk online what is nitroglycerin patch used for l-tryptophan dose for sleep to buy indinavir in uk medical abortion pill online hydromorphone conversion to oxycodone online sale of xeloda buy brand viagra next day can you get lasuna bupropion doctors online pletal prices usa zanaflex overnight shipping cheap billig tegretol online kaufen buy female cialis no prescription fast delivery vermox mg order clozaril daily use reviews how to take zovirax pills buy neurontin without rx zyvox precio mexico cheapest mircette in the uk sertraline high erowid nexium 40 mg 14 tablet buy xenical in usa albendazole costco buy robaxin online without prescription what is avodart medication for buy generic kamagra gold with bonus mircette cheap buy zenegra in singapore depakote canadian medications without prescription beat way to order brand cialis topamax price us seroflo inhaler 50 side effects where to buy kamagra in phuket mentat ds syrup not generic american drugstore online shop cheapest zithromax online without no rx phenergan online overdosing on trazodone symptoms buy without doctor accutane online how to use betnovate-n cream cheap generic voveran sr common side effects of zantac where to buy mifepristone and misoprostol do i need a prescription for neurontin what is the equivalent of viagra for women donde puedo comprar olanzapine pet antibiotics online non prescription amitriptyline brand order keflex suspension rxlist florinef dogs buy diakof roche precio argentina diflucan prices best site get bentyl benicar online overnight 4 corners pharmacy delmar ny singulair australia purchase acai berry in australia cialis for daily use cheap serophene 100 review where to buy cozaar cheap buy kamagra gold mg online zestoretic drug classification should aspirin be discontinued before coronary artery bypass surgery comprar benicar anlo use premarin coupon online order doxycycline hyclate prescription cialis 20 mg daily generic shatavari no prescription antivert 100mg buy how long does it take for flomax to kick in purchase celebrex in australia walmart generic prilosec otc voltaren 100mg tablet buy aciclovir online from mexico can i get cefixime viagra super active where to purchase what is pulmicort used for in children nike air max 1 black leopard uk generic drugs canada customs xenical australia cost pletal without prescription miami how much does levaquin cost cheap fluoxetine 20mg canada overseas pharmacy review does acne return after taking accutane cialis jelly low dose birth control does cozaar cause weight gain proguanil and chloroquine boots liv nutrition salem oregon ventolin tablets 2mg cipro antibiotic treats vermox pharmacy online cefixime 100mg cheep do you need an id to buy benadryl cheap coreg 40 mg tetracycline 500 mg cost legal to buy advair diskus estrace tablet sale walmart alliance can you buy acivir pills mg effects lady era online in us tadalis sx uk brand name bula reme'dio moduretic celexa overdose treatment where to voltaren gel in canada cardura medicine children what is orlistat 60mg nexium tablets wiki singapore online pharmacy shop long term side effects of abana how much is celebrex without insurance at walmart where can i buy testosterone gel erection packs one drugs cialis tadapox by mail where to buy levitra online india safe benzac buy grifulvin v online drugs buy exelon with paypal betapace suppliers overseas piracetam side effects insomnia cost of betapace without insurance amaryl tablets diabetes hydrocortisone on face rash how to take bupron sr mg cardura prices cvs maximum dosage of amitriptyline clomid effects on menstrual cycle avapro online cheap motilium with american express ventolin evohaler for sale prescription albuterol sulfate nebulizer treatment fashion funzionale culturismo italiano motrin online from usa atrovent inhalation pediatric dose getting unisom in australia mail order generic brand amoxil buy cialis super active online cheap cheap metoclopramide pills prescription generic purchase protonix plavix sales us where to buy septilin drugs online can we trust mirapex online what does allegra drug tadalafil cheapest online price india can biaxin get you high buy online risperdal generic zanaflex not generic paroxetine coupon code best place buy liv 52 pct generic viagra soft india discount code for zithromax order levitra leading cheap best deal on cialis canadian pharmacy research grade artane combivent medication online insurance companies in london hannah s club 7 ordering achiphex from canada ranking of us pharmacy schools canadian pharmacy celebrex what is lasix tablets for metformin from canada american lasix is wellbutrin licensed in the uk dosage of allegra for dogs bupropion prescription cost what are the side effects of taking coreg prednisolone looking for serophene shoppers drug mart discount pharmacy woden australia how to get keppra on line para que sirve la sertralina 50 mg bactroban over the counter uk skelaxin delivery buy voveran with e check generic viagra united states can you buy cialis super active in ireland 5mg tadalafil letrozole nolvadex for gyno buy fuosmide with out perscription feldene piroxicam side effects mix amoxicillin powder oral suspension order viagra on line usa social anxiety nhs healthy heart rate 30 year old male cheap premarin free delivery where to get acivir pills pct alli medication order very cheap torsemide how to use eulexin long time side effects keftab florinef sale nitrofurantoin 20 mg buy cialis edmonton buy tricor paypal accepted lasix water pills no prescriptions viagra side effects video can you buy allegra d over the counter online what is the drug renagel used to treat buy cheap hyzaar pills himalaya ayurslim user reviews buy skelaxin without rx procardia xl sales quickest levitra plus blue oval pill with 100 on one side safety of buying antibiotics online what are the side effects of mobic medicine cialis sale montreal comprar cleocin gel portugal can you get high off doxycycline hyclate viagra effects interactions nitrates motrin with no perscription colchicine online usa use purinethol coupon online motilium overnight delivery capoten india prescription generic mexican pharmacy prices inderal delivery andkon 1000 free games how long does it take for lisinopril hydrochlorothiazide to work cytoxan prescription coupon order lisinopril pill cheapest nitrofurantoin arava next day delivery mentat ds syrup pharmacy order india procardia price zanaflex best online non prescription pharmacy order malegra dxt cheap generic duphalac what is lotrisone used to treat levothroid without a script non persciption keftab bactrim antibiotic dosage cephalexin online overnight pletal uk brand name side effects of doxycycline hyclate ta 100mg ambien 10mg not working what does overdosing on aleve do ldn low dose naltrexone buy ultimate acai in the uk etodolac cost in canada there generic zithromax safe place order aristocort prevacid tablets price how to by brahmi online hoodia cheap buy zebeta bulk stromectol paypal maximum daily dose of torsemide revia online in usa side effects of ibuprofen synthroid versus generic levothyroxine hashimoto;s how to buy nolvadex fluoxetine 10mg tablet female viagra lowest price what class of medication is avapro acquisto promethazine sicuro online torsemide brand order what is speman pills used for buy premarin online india citrato de sildenafila generico e' bom renagel 5mg tablets pms ranitidine 150 mg tablet brand viagra low dose birth control buyers of minipress canada bactroban usa side effects of fertomid 25mg ginseng better than caffeine order vasotec 120 mg generic uk paypal noroxin do you need prescription get viagra when will there be a generic for singulair finax drug class mexico alligator hunt splitting seroquel tablets finpecia 1mg review what is alli simpson tumblr apo salvent overdose tenormin dosage range bupropion 5mg tablets voveran low dose birth control glucophage 850 mg where can i get cefadroxil pills buy generic allopurinol with bonus diovan hct max dose can you buy vasotec waheed alli lord hunch proair hfa albuterol sulfate side effects generic zovirax india rogaine 5 over the couter safe buy paroxetine online where purchase confido pharmacy technician online training free can buy levaquin online can you order fincar propecia generico espan~a 2012 comprar carafate online safe use betnovate pregnancy artane suppositories buy cardizem online in usa acheter moduretic tenormin medication side effects zanaflex over counter floxin tablets price reliable online pharmacy diazepam to buy kamagra gold in uk omnicef to buy in england getting olanzapine in australia buy albuterol inhaler from china naprosyn delivery london mobic free shipping erexor australia price benadryl pills for sleep duphalac paypal buy orlistat without a script how to buy cialis professional in london clomid calculator tool buying kamagra from canada no prescription safe buy pravachol online levitra plus prices at costco feldene piroxicam medicine toprol xl 10 mg purchase vpxl on line in canada aciphex online meds how to order strattera order tricor canada where can you buy primatene mist high dose sertraline ocd buy ciplox in usa med cab trileptal zantac price levitra professional pills online in the australia comprar metformina 500 purchase mentat cheap what does diovan 160 look like priligy dapoxetine australia buy advair diskus paypal accepted original micardis online order grifulvin online no presctiption clomid mg price nymphomax where can i buy it diamox for purchase proventil usa can crestor be discontinued cialis phone unisom without a prescription viagra reviews stories buy generic viagra online from india red cialis viagra yan etkileri decadron on line purchase low acivir pills popular products can i get a prescription without a doctor nizoral 100 mg normal warfarin dosage ephedraxin women buy alesse generic version of what wellbutrin xl 150 mg prices zentel tablets directions can you get pregnant while taking methotrexate cheapest cialis professional ciprofloxacin over the counter drug carbozyne legal in england viagra generics online feldene canada overnight delivery cephalexin purchase how much does orlistat cost the nhs moduretic over the couter purchasing brand advair diskus online uk zoloft medication for sale canadian buy decadron generic exelon drug patch side effects of imitrex tablets is it safe to order ceftin what is lamisil used to treat tadacip with no perscription is generic brand amoxil effective online generic abilify viagra rx access generic celexa safe how long does it take for anafranil to work for ocd pharmacy drugstore prescriptions eu bupropion uk buy forum buy flonase online fedex lipothin drug class styplon for dogs buy maxalt mlt generic types of arthritis in knees buy genuine amitriptyline uk what does cipro antibiotic look like brahmi amla oil reviews azithromycin 250 mg pack price cost of depo provera without insurance what does premarin come from order non generic chloroquine cheap drugs buy atacand online quibron-t without a prescription come si usa il vermox how much does allegra cost at target suppliers of zovirax in us evista india no prescription is pepcid better than zantac buy naprosyn online no prescription canada how to by brand cialis online acivir pills discount medications target pharmacy zocor compazine generic cost what does neurontin what is the dosage for atarax buy lariam in india online imitrex dose migraine allegra d lawsuit cleocin buy on line generic drugs news today administration omnicef delivery vice magazine female viagra kroger pharmacy 4 dollar list triamterene hctz generic drug trazodone 100 mg get high buy terramycin visa does tegretol make you gain weight to buy skelaxin in uk biaxin phone orders can gabapentin get you high cyklokapron tablets topical diclofenac sodium 3 gel buy compazine 100 pay by check online i pill tricor website natural viagra plus topup bupropion smoking cessation mechanism side effects of meloxicam in men micardis hct coupons amoxil buy generic antibiotic cialis side effects long term research grade leukeran buy medrol online from usa requip xl 8 mg tablet where zyvox best price for real xenical buy yasmin in usa what is triamterene-hctz 37.5-25 mg tb acquistare anafranil in italia acivir pills lawsuit settlements best site get prednisolone buy canadian adalat online buy topamax canada viagra pill canadian low dose pravachol i need to buy misoprostol quickly online in uk pharmacy 4u code generic atacand usa pharmacy lov cost cabgolin canadian entente of physiotherapy regulators the alliance the alliance best place buy deltasone brahmi phone orders desconto para comprar anticoncepcional yasmin hyperbole and a half allie brosh depression aspirin dose for dogs mg/kg tinidazole fast mexico cheap levitra no prescription avodart price uk dostinex buy no prescription can you buy albuterol proventil hfa
Friday, November 28, 2014
Text Size

Search our Site or Google

Commodities: Hoarding Versus Shorting

Articles & Blogs - Silver Commentary

User Rating: / 81

Given the decades of rampant manipulation of the precious metals markets on the “short” side of trading, it is more than ironic that as the U.S. CFTC (“Commodity Futures Trading Commission”) ponders restrictions on commodities markets, it has expressed the most public concern about “speculators” on the “long” side of investing.

This comes with HSBC sitting with the largest concentrated-position in the gold market in history (“short”), while JP Morgan sits with the largest concentrated-position in the history of the silver market (also “short”). Furthermore, these concentrations (in proportionate terms) are far larger than anything seen in the history of all commodities markets.

Nonetheless, we continue to hear endless rhetoric about “speculators” disrupting markets (especially the crude oil market) – through “competing” with the buyers who actually consume these commodities through their own operations. Such “disruptive speculation” is often referred to (disparagingly) as “hoarding”.

Before I get into a direct analysis of this economic phenomenon, it would be helpful to review some basic economic fundamentals, and then first apply those fundamentals to the “short” side of commodities trading. Regular readers will be familiar with one of my economic mantras on commodities markets: anything which is under-priced will be over-consumed.

In fact, this isn’t really “economics”, but merely an expression of common sense. If chocolate bars were suddenly re-priced at a dime apiece, store shelves would be cleaned-out in days. Manufacturers’ inventories would then quickly be drained. This would soon be followed by acute shortages in the global cocoa market, and very possibly the sugar market as well.

At some point, not too far down the road, such warped pricing (totally against economic fundamentals) would create utter havoc in these markets – as acute shortages occurred – leading (inevitably) to a massive price-shock, not only to the chocolate bar market, but also with the cocoa market, and likely the sugar market, too. These price-shocks, in turn, would cause serious disruptions in other markets which rely upon these commodities.

In short, excessively low prices are at least as damaging and disruptive to markets as excessively high prices – and arguably much more so, since they lead to two massive distortions to markets: first over-consumption (which depletes inventories and stockpiles), followed by a massive price-shock (the only way to curb demand to a sustainable level).

If we replace the words “chocolate bar” (in our example) with the word “silver”, we see what utter havoc has been created in this market, through JP Morgan being allowed to accumulate and hold the largest, concentrated (short) position in the history of commodities market.

Noted silver authority Ted Butler has estimated that 90% of global stockpiles of silver have been used-up, thanks to decades of this market-manipulation by JP Morgan – along with smaller, but equally nefarious allies in this market. With decades of manipulation behind us, and global inventories and stockpiles already decimated, we have gone through the period of “over-consumption” and are rapidly approaching the massive price-shock – which became inevitable the day that JP Morgan (and fellow banksters) embarked upon this permanent-manipulation scheme. It is the years of ceaseless manipulation, combined with JP Morgan misrepresenting their activities in this market which makes this more than merely "illegitimate", but also illegal.

Not surprisingly, growing numbers of investors are gravitating toward this market. They are investing in a commodity which has become genuinely “scarce”, due to the nefarious (and illegal) manipulation of this market by JP Morgan and allies. How is the brain-dead media reacting to these market events?

Far from condemning the indefensible conduct of the bankers (on the short side), it is silver investors who are depicted as “speculators” – which as I explained earlier, is a “four-letter word” in the eyes of the U.S. regulator.  And rather than describing the activity of these “speculators” as the very sensible decision to stock-up on a commodity in short supply, the media depicts this activity as “hoarding” – yet another term with negative connotations.

To display how this attitude is not simply “warped”, but totally mistaken, let’s back-up a bit. JP Morgan attempts to “justify” its illegal manipulation of the silver market as part of the legitimate activity of “hedging”. Simple arithmetic proves JP Morgan is lying. By definition, hedging is an activity to help restore balance to a market – through offsetting long positions in that market.

More importantly, the mechanism through which hedging restores balance is price. At this point, analysis becomes simple: if the hedging is legitimate it will produce a price which leads to balance between supply and demand in this market. The simple fact that the (supposed) “hedging” (i.e. shorting) by JP Morgan led to a 90% drop in global stockpiles, and a corresponding 90% plunge in global inventories (in just 15 years) is – by itself – conclusive proof that JP Morgan’s short-position could not possibly represent legitimate hedging.

JP Morgan created the severe imbalance in this market, through overly depressing the price with its manipulative shorting. This has led (directly) to destruction of stockpiles, which also leads (directly) to the massive price-shock toward which we are heading. Let’s compare this activity to the (long) “speculation” which the CFTC has mistakenly identified as a more serious problem.

Let’s assume that the level of long-investment (i.e. “speculation”) leads to tightening supplies for a particular commodity. Let’s go even further, and raise the level of “speculation” to the point where there is a serious “spike” in the price of that commodity. What happens then?

The spike in price causes demand to plummet. This causes the price to fall (rapidly) irrespective of the conduct of “speculators”. After bouncing-around a bit (as the pendulum swings back and forth), the price returns to an equilibrium level – and there has been only one disruption to this market.

Conversely, with the excessive shorting of JP Morgan (et al), first this leads to over-consumption. In the case of a metal like silver, with countless useful chemical/metallurgical properties, this means numerous businesses incorporate silver into their business/production model (at a price which cannot possibly be sustained over the long-term). Thus, when the inevitable collapse in supply occurs (and a default, or severe supply disruption in this market), far too many businesses have not only become dependent on silver, but dependent upon cheap silver.

This means that the original supply-crunch will have an horrendous impact on these businesses. However, that impact is nothing compared to the harm of the massive price-shock – made inevitable by excessive consumption. Because under-pricing led/leads to massive over-consumption, demand would have been (artificially) pushed to grossly excessive levels – maximizing the total damage from the price-shock.

Conversely, in a market which only has long-speculation, there is no artificial demand created first. What this means is that a price-shock created by “over-speculation” must (as a matter of simple arithmetic/logic) cause less problems than an imbalance caused by excessive-shorting.

Let’s reinforce the distinction that “hoarding” is the noble activity, while “shorting” is the evil which must be controlled. This can be easily illustrated by looking at the “supply” of various species of animals, in the animal kingdom. Here, the concept of hoarding does not even exist. Rather, we encounter a word with a much different connotation: “conservation”.

When a particular species of animal becomes “endangered” due to “over-consumption”, the people who protect the supply of such species are widely viewed as heroes. We can easily export this analysis to the world of commodities, by simply reviewing the evolution of the silver market.

First, JP Morgan engages in grossly-excessive (and illegal) shorting of the silver market. This causes the price to drop to a totally artificial level (which is what causes over-consumption). Thus, what the market needs is higher prices – to push demand back down to sustainable levels. Enter the silver investors.

The moment that these investors start buying-up significant amounts of silver, this causes the price to rise (and curbs demand) sooner than without the intervention of these investors. What this means is that the price-shock occurs sooner than without this investing and (as a result) there is more silver remaining in global stockpiles than without the virtuous influence of these investors. This analysis is by no means unique to the silver sector, but can be applied to any/all commodity markets.

This analysis should also serve to provide readers with proper perspective regarding the individuals (and groups, such as GATA) who have laboured for years to expose the illegal manipulation of the gold and silver markets. The clueless media have depicted these people as a collection of “Don Quixotes”, who are supposedly wrong about both the existence of manipulation in these markets and the urgent need to stamp-out such manipulation ASAP.

Any valid analysis of these markets instantly vindicates these people (and their efforts), while it is the “shorts” (and their defenders in the media and regulatory bodies) whose conduct cannot withstand the slightest analytical scrutiny.

In short, we could easily devise an “I.Q. test” for all would-be “regulators” of the CFTC. We can test them on their understanding of (and the distinction between) hoarding and shorting. Given the rhetoric emanating from this severely-tarnished institution, most if not all of the CFTC’s current “leadership” would flunk such a simple exam – with a similar lack of comprehension to be expected should we test media “experts” on commodities.

Readers must “shun the herd” when it comes to commodities analysis – as there are few signs of intelligent-life here. While silver investors are unlikely to be awarded “medals” for their virtuous conduct, at least we can go to sleep at night knowing that we won’t “burn in Hell” like the silver-shorts of JP Morgan.


Comments (15)Add Comment
Jeff Nielson
written by Jeff Nielson, September 03, 2010
Stew, what makes the current era of money-printing so particularly irredeemable is that there haven't even been any "national emergencies" to provide even a PRETENSE of justification - certainly the highly "choreographed" War on Terror doesn't count, and the other money-printing sinners didn't even have that pretense.

This destruction of the BANKERS' currencies and OUR wealth has been nothing more than a wealth-grab by the ultra-wealthy, and the bankers who "service" that wealth. And we didn't even need "princes", just a lot of stupid, spineless politicians...
written by swsprime, September 03, 2010
A Gold Standard stops the worst excesses of Princes (and Presidents):

Princes always fought wars to take over the assets of other Princes for their own dynasty's aggrandizement. The problem they had with starting a war was they had to pay the troops and arm and feed them for the duration of the war. In order to do this Princes had to use up their treasury of Gold and Silver. So they needed short wars, if the war didn’t go the way they expected it to go and they used up all their Gold and Silver they would become frantic to end the war, and these wars would end quickly by treaty, (much to the benefit of ordinary people.)

Then along came International Bankers.

‘Worried about having to end your wars too soon? We’ll help you keep that war going, we’ll lend you money, better still, we’ll print paper money you can use internally to pay your people’

Germany then France came off the Gold Standard just before WW1 and this enabled this war to go on for six long years, cost 20 million lives, and bankrupts both countries. France won (sort off) and Weimar Germany endured hyperinflation and the coming to power of Adolph Hitler, who saw to it that another 49 million would die.

As Napoleon Bonaparte, a big war monger, and the first big user of international banking once said: ‘Money has no motherland; financiers are without patriotism and without decency.’

Ever wondered how the US financed the long wars in Vietnam, Iraq and Afghanistan? Ever worried about the US going into hyperinflation any day soon? You should have done both.
Jeff Nielson
written by Jeff Nielson, September 03, 2010
Very nice analogy, Dylan.

Yes, whenever some authority (generally with some sort of "monopoly control" over a market) points an accusing finger at people for "hoarding", it is almost that authority which CREATED the motivation to do so.

Ironically, with gold being almost perfectly "conserved" by our species (i.e. very little is "consumed"), there is no possibility of the accusation of "hoarding" (because the global stockpile is abundant).

Conversely, with silver BECAUSE people did NOT "conserve" global stockpiles of silver (due to bankster shorting and industrial consumption), and BECAUSE supplies have been so decimated, EXPECT the accusation of "hoarding" to be uttered very powerfully by the propaganda-machine. Instead of criticizing the "shorts" for burning-through global stockpiles, it will be the silver "conservationists" who are demonized.
written by Dylan, September 03, 2010
The endless rhetoric about speculators reminds me of Diocletian’s edict, in which he rants on about those evil merchants who kept raising the prices in response to his debased coinage and then when the prices were fixed, committed the ultimate sin of hoarding , the parasites! All this despite the fact that he and his successors were guilty of hoarding all the remaining non-debased gold and silver coinage and only accepting real gold as payment of taxes. And all the debased coinage which had to be accepted at nominal value when he was funding his war machine caused the supply shortage which led to the price increases in the first place. So we have the great grandaddy dragon of hoarders transferring wealth to himself and his war machine and transferring blame on to other segments of society – the oldest trick in the book.

This leads me to the next point, there ARE a group of state-sanctioned speculators today who qualify for the parasitic terminology. These are the colluding insider hedge (so you can’t see over the top)-funds and their ilk who along with investment banks such as Goldman and JP Morgan make up the shadow banking system. Isn’t it interesting that now they both have closed down their proprietary trading desks, various members of staff will form hedgefunds. I wonder if the suppression will continue?

As you say Jeff, their illegal shorting activity has created an artificial increase in demand, offset by the paper PM scam (an artificial satisfaction of that demand to buy time) enabling them to hoard the real stuff in gleeful anticpation of the inevitable price-shock.
However, they also engage in illegal long speculation, the commodities bubbles, the agflation which causes real starvation caused by a Stalinesque artificial reduction in supply (this is the real hoarding), as prices are forced up – people need to eat, no free market there. But this is also „Naked” long speculation because the money comes from collapsing real estate bubbles and credit default swaps which come from insane leverage and illegal insurance scams ultimately paid for by the outsiders.
Wealth transfer to Insiders and Burden of Debt transfer to outsiders.

Null, maybe off topic or maybe not. Have you ever considered the possibilty that the debate between the global warmers and the skeptics is contrived to cover a third possibilty? Climate change IS man made BUT NOT because we breathe and drive to work, BUT because the technology to cause rainfall or droughts or worse (think crop failure, commodity speculation, insurance scams, weather derivatives) exists and has and is being used on a global scale. Once again the blame is being transferred on to US while we are being raped.
Jeff Nielson
written by Jeff Nielson, September 03, 2010
Null, now we're kind of getting into the fundamentals of capitalism here. The essence of capitalism is that you must "extend credit" (i.e. incur debt) to maximize economic growth. In a debt-based economic system, "interest" is deemed to be an economic necessity (i.e. if you DON'T pay interest, no one has an incentive to extend credit).

The problem is that when you ALSO allow a "fractional reserve" monetary system, then you are implicitly building inflation into the system, too. This is because you can't have "fractional reserve banking" without diluting the money supply, and you can't dilute the money supply without creating inflation.

At this point, there becomes TWO bases for interest: the passage of time AND the dilution of the currency...and we gradually degenerate (thanks to the greed of bankers) into the mess we have today.

I would equate the Islamic model of a financial system much like that of the lifestyles of the tribes of aboriginal people (from an ecological standpoint). The parallel is that we are dealing with inherently STABLE and SUSTAINABLE systems here.

The "benefit" offered by capitalism is a generally higher standard of living, more rich people, but with INHERENT INSTABILITY and MASSIVE wealth inequality.

written by Null, September 03, 2010
Thanks Jeff, I wonder if you have an opinion or further insight into the Islamic rule of banning interest or "usury", which as I understand it was also banned by our own cultures long ago. I wonder how a financial system would operate under this, or do we even really need a financial system at all? What happened to the old concept of actually working and producing something of value in order to earn money? When you see the ads on TV from the banks urging people to "get your money working for you", well that's not what's happening at all, rather someone else who doesn't have any money is working for you because if you own money then you own debt, and someone else is enslaved by it.

In my simplistic understanding I would imagine a world without banks of any kind except those which print up a transactional currency linked to precious metals that we would use every day. Our wealth would be stored in physical possession of precious metals, or by ownership of hard assets like farmland or shares in factories and corporations. Neither the banks nor government could manipulate money, and economies would be ..... stable! Would this mean government bonds would no longer exist?

People would not be able to buy anything unless they had the money to do so (what a concept!!!) Housing prices would therefore drop accordingly to make them available to the majority. If you needed a loan for something like to start up or expand your business then you would go down to the credit union and arrange and agreement with a group of investors who have some gold they would like to loan out. The interest rate would be agreed upon mutually by the parties involved and the government would have nothing to do with it. As collateral for this loan you'd offer up something you own to guarantee it.

Simple, easy to understand, does it really need to be more complicated than this? Maybe for large corporations who make cars or computers or mine copper it would need to be a little more complicated I imagine.
Jeff Nielson
written by Jeff Nielson, September 03, 2010
Null, I agree unequivocally. It's a constant theme here that what is taking place in the broader economy is a MASSIVE WEALTH TRANSFER to the ultra-rich FROM everyone else.

This is why I have made a number of attempts to get people to focus on our TAX SYSTEM - since this is the primary wealth-transfer mechanism in any/every developed economy.

The other areas of wealth-consolidation which you refer to are ALSO important. However, fixing OTHER parts of the economy (and "righting" other wrongs) won't make ANY real difference unless/until our tax system is overhauled.

I've been meaning to do another piece on this - especially after Samix mentioned that Islamic nations ALREADY have an equitable tax-system in place: a "flat" WEALTH TAX. So hopefully I'll get something written up on that in the next few days...
written by swsprime, September 03, 2010
@ Null,

Thx Null, comments appreciated.

written by Null, September 03, 2010
swsprime, see the movie "Who Killed the Electric Car" which documents how Big Oil and the American government destroyed the efforts to bring electric cars to market earlier in the decade. Here we are ... almost 2011 and you still can't buy one. I have analyzed the movie for the last 2 years and it appears to be entirely correct.

I don't want to go too off topic here. But I see a direct parallel between what the oil industry (and sympathetic governments who make revenue from it -- aka Stephen Harper and GW Bush) is doing to prevent change and sustainability, and what the banksters and US government are also doing to prevent change. The established PTB simply do not want change, because they will lose out if the average consumer wins (by being able to charge their electric cars with solar panels on their roof, thereby completely bypassing the oil industry and saving $$$ in the process, or by using gold and silver as a store of wealth, thereby completely bypassing the banking industry), and they engage in these massive campaigns to prevent change by manipulating public opinion, among other strategies as well. They are designed to scare people into believing that getting off oil is going to hurt them financially, or that gold and silver are in some kind of bubble when they clearly are not, yet only a few years ago housing was in an obvious bubble but where were the banksters warning everyone about the coming pop? Nowhere to be seen. Absolutely ridiculous. It's all designed to steal wealth from the middle class.
written by swsprime, September 03, 2010
@ Null

Nice comment. What is Chevron hiding?

written by Null, September 03, 2010
Yes it's quite a revealing insight into human nature to see peoples' reaction when presented with this unavoidable outcome of our modern economic system. I have told at about 5 of my friends about the coming collapse and how important it is to buy precious metals as not just a profit opportunity, but as a hedge. No one has done anything. One friend who is a successful small businessman with 4 retail stores in Vancouver, has 4 houses in Vancouver, all on a mortgage, and wants to take out a new loan to open up a fifth store. Yikes.... I have been trying to convince him to buy gold and have shown him all the evidence of a manipulated market and the inevitable consequences of a debt saturated fiat currency. His response was that he lost $10,000 in the stock market crash in 2008 and has since not been interested in investing..... So then what are those 4 houses for?!

The response of people to this situation reveals how we behave as a species, we can be incredibly stupid sometimes (sorry for saying that, friends). As a group we are incapable of thinking originally, adapting to new situations by adopting new and better ways of thinking and doing things, and using reason to question the false assumptions we incorrectly hold to be true. We will all still be enthralled in the inane left-right debates, clinging to outdated simplistic ideology, as we all, both left and right, drive off the cliff together. It does not inspire confidence in the long term future of our species. Just look at all the people denying global warming (with zero scientific reason to do so), so easily manipulated by the same type of FUD (fear, uncertainty, denial) spread by those wishing to continue to suppress precious metals. It is so obvious that the doubts about global warming are funded and spread by Big Oil, and there is ample undeniable evidence to demonstrate this, yet so many people would rather trust an oil company that steals $2000 from them every year over a scientist who dedicates his life to studying something at university and has no vested interest at all in helping you save that $2000 a year and instead spend $200 a year by adopting better technology that is has been suppressed by Chevron for 7 years, ironically. Sorry, a bit off topic there.
Jeff Nielson
written by Jeff Nielson, September 03, 2010
Stew, I attribute the "secret" status of precious metals (amongst people in North America) to three factors.

1) All the bubble-idiocy. We've had media-parrots talking about a gold "bubble" since gold broke above $700/oz.
2) The "we buy gold" vultures. Saturate the air-waves with ads suggesting that SELLING gold (and silver) is the "smart" thing to do, and the sheep will take their cue.
3) FORGETTING HISTORY. This is clearly the most important factor. Listen to the following clip (if you haven't already heard it), and hear how much more sophisticated is the understanding of the average Asian - when it comes to precious metals, and "money".
written by swsprime, September 03, 2010

How come when people like you speak so lucidly about Gold and Silver and PM's vast value growth potential that so few investors pick up on the fact? Its' like we are still a close group working together to a common end. To misquote Shakespeare a little:

We few, we happy few, we band of brothers;
For he to-day that buys his PM share with me
Shall be my prosperous brother.

Hmmm, maybe not, it sounds a little too sententious doesn't it?

Anyway, on a more practical level, JP Morgan and HSBC's cheating shorts have now set up an ideal market for the small intelligent investor to thrive in. As the Dow crashes, (as it will,) Gold and Silver will rise in a spectacular fashion until the Dow Index:Gold Price reach at least parity or better.

So buy physical Gold and Silver and well researched Mining Stock now!

Re Silver: Don't worry too much about Industrial problems associated with hiked Silver prices, the amount of Silver used in each unit of production is tiny and the effect therefore on manufacturer's profit margins is very small. However, Industry MUST have its' Silver fix no matter what the price so that particular slice of the demand cake is fairly inflexible.

Also because the amount of silver used in each unit of production is so small it is not practicable to recycle it, so that slice of the supply cake is also fairly inflexible too.

With Silver, as investor demand grows, we are talking about market shortage and medium term inflexibility - there are no more world strategic stocks of Silver, recycling can only increase a little and it takes seven years to bring a new Silver Mine into production - so that's seven years of rising prices!

Keep the up these great articles, if each one helps just two or three new investors to see the PM light it will be well worth it.

written by dlmaniac, September 02, 2010
Well reasoned like always, Mr. Nielson. Always a pleasure reading your silver analysis.
Brian Boutilier
written by brian boutilier, September 01, 2010
Well played sir, well played.

Write comment
You must be logged in to post a comment. Please register if you do not have an account yet.


Latest Commentary

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12

Latest Comments

Disclaimer: is not a registered investment advisor - Stock information is for educational purposes ONLY. Bullion Bulls Canada does not make "buy" or "sell" recommendations for any company. Rather, we seek to find and identify Canadian companies who we see as having good growth potential. It is up to individual investors to do their own "due diligence" or to consult with their financial advisor - to determine whether any particular company is a suitable investment for themselves.

Login Form