France stops precious metal sales through the mail

Nobody knows how long the Believers can keep the neocon-bank-bourse-globalist bird on its wire, but there’s one thing you can’t resist, and that’s data. You can try and hide it, like Mario Draghi, but in the end the markets will seek it out via other means.

Countering the bollocks this morning are the following gems:

The US Treasury Bond (TBond) is the primary vehicle for the USDollar. Nations do not hold the USDollar in raw currency form, they hold them in USTBond form, in order to gather some interest income. Since Zirp, interest has been next to nothing. These rates no longer reflect risk accurately: as I’ve been predicting for months, sooner or later interest rates will normalise. What we’re seeing over the last few days is people dumping TBonds to look elsewhere. The Federal Reserve realised long ago they were painted into a monetary corner. They began to mention the need for an exit in the spring months of 2009. Mild panic. They mentioned it again a few weeks ago. Bigger panic.

No some data has rolled in to make things worse. Manufacturing has begun to contract in both the US and China for the first time since Lehman’s collapse. The inevitable synchronised downturn in the world’s two largest economies – the globalist flaw – has arrived. “This is not a good moment for the world economy,” said David Bloom, currency chief at HSBC. “The manufacturing indices came in weaker than expected in China, Korea, India and Russia, and then we got America’s ISM.”

Like I pointed put above, you can hide data but you can’t stop the other signs from emerging. The BIS last night confirmed that cross-border lending is falling drastically across the western world as banks slash exposure to Europe and bend to tougher capital rules. The BIS describes this as ‘startling’, but I’ve no idea why. Money is leaking out of Europe: the eurozone has become an ocean-going sieve of investment.

Very soon, the windows will close on the ability to buy precious metals. But they’re unlikely to slam shut with a bang. Yesterday, the Elysee quietly stopped the shipment of physical gold, silver, and cash through the mail. As of this morning, there is no precious metals trade in France.

It’s here, and it’s happening. Stay tuned.