Miles Franklin Logo
"Ranting Andy" Hoffman
tableTable of Contents 

Quotes of the Day

Upcoming Conference Appearance

Silver Circle Movie - Coming Soon!

Ranting Andy/Bill Murphy/Bix Weir Podcast, Part II 

Tuesday Afternoon Wrap-Up

Wednesday Morning Commentary

Counterfeit Gold?

Ranting Andy's Mailbox

quotesQuotes of the Day 

Inflation has so gutted the system that we now face a system-wide 'reset'.  It is THE only option left to right the cumulative wrongs.  At the core of all of these 'wrongs' is inflation.  This has always happened in the past, and will always in the future.   Whenever a false currency that is controlled by rocket scientist bankers is introduced...they abuse their power and position.

-Bill Holter, Miles Franklin


Back to Table of Contents

conferenceUpcoming Conference Appearance 

I am pleased to announce Andy Schectman and Michael Spector will be appearing at International Living's Fast Track Your Retirement Overseas Conference September 28th-30th, in Las Vegas, Nevada.


International Living's Fast Track Your Retirement Overseas Conference


If you plan to be attend, please come by the Miles Franklin booth to say hi!


Back to Table of Contents

silvercircleSilver Circle Movie - Coming Soon!  



Ranting Andy readers are getting an exclusive look at the Silver Circle movie.  A film about the upcoming economic collapse in 2019 will hit theaters in January, but not before taking a promotional tour this Fall for lucky viewers around the country!  More details about the release -i.e., exact dates - will be published soon, so stay tuned at, and watch the TRAILER here:



Silver Circle - Official Trailer
Silver Circle - Official Trailer

Synopsis: Jay Nelson, lead investigator for the Federal Reserve's Department of Housing Stability, is assigned to an arson case at Glenwood Homes.  He's quickly led to a rebel group plotting to take down the Federal Reserve.  Rebel leader Zoe Taylor tries to convince Jay that although the Chairman of the Fed - Victor Brandt - is blaming the rebels for destroying Glenwood Homes - Brandt himself has secrets of his own.  Join the silver-toting Rebels as they attempt to outsmart the Fed, and restore a sound money system in America - once and for all. 


Since Ranting Andy's readers love silver - and all things related to ENDING THE FED and restoring sound money - we've got an awesome deal for you!  For a limited time, you can visit the Silver Circle Store - and when purchasing a t-shirt, wristband, or bumper sticker, receive a 20% discount by using the code "RANT." 


Additionally, if interested in contributing to the project's marketing and distribution campaign, please contact Megan Duffield, Marketing Manager, at


All donations are tax-deductible, and we are hoping to meet our goal of $500,000 before the January theater run - to ensure a successful release.  Hey, you can even donate IN PHYSICAL silver. How cool is that?


Back to Table of Contents

roundBilly Murphy, Bix Weir, Ranting Andy Roundtable Podcast - Part II  

The below podcast ROUNDTABLE with myself, Bill Murphy of GATA, and Bix Weir of Road-to-Roota was conducted by Elijah of Unconventional Finance on Thursday, September 20th. It will be released in five segments over the next week, with PART II below...


Hold PRECIOUS METALS for ECONOMIC CHAOS - Pt 2 - Silver All-Star Panel 
Hold PRECIOUS METALS for ECONOMIC CHAOS - Pt 2 - Silver All-Star Panel



Back to Table of Contents

wrap-upTuesday Afternoon Wrap-Up 9/25/2012
Andrew Hoffman I'm in a REALLY bad mood today. To start, we have now dealt with three of the most egregious Cartel manipulation days of ALL-TIME; a statement, by the way, I do NOT make flippantly.


This is what the Cartel did when gold exceeded its current line in the sand at $1,775/oz today. Oops, sorry, that was FRIDAY...


spot gold   


...which anyone could easily mistake with TODAY. On both days, gold spiked at the EXACT same time, was stopped with patented "CARTEL HERALDs" at the COMEX open at EXACTLY 8:20 AM EST, and subsequently capped at the PM Fix at EXACTLY 10:00 AM EST. On Friday, the Cartel successfully engineered a WATERFALL DECLINE shortly afterward; but today, waited until the "cap of last resort" at EXACTLY 12:00 PM EST...


spot gold   

Of course, it was much easier to take gold down earlier on Friday; as back then, silver was crossing its ULTIMATE line in the sand at the VERY KEY ROUND NUMBER of $35.00/oz - prompting the Cartel to execute the "POST-FOMC MONSTROSITY"...  


spot silver protect its ENORMOUS COMEX short position; which had risen to the same GARGANTUAN size as the week before May 2011's "SUNDAY NIGHT PAPER SILVER MASSACRE"...


silver net long dumping 62 million PAPER ounces on the market, at - what a shock - EXACTLY 10:00 AM EST...


Cartel Dumped 2x Annual US Silver Production on Market in 15 Min to Smash Silver Under $35 


Care of that smash - and Sunday's "SUNDAY NIGHT SENTIMENT" PAPER attack (blue line below) - silver has been pushed sufficiently away from the KEY ROUND NUMBER of $35/oz for the time being. However, October COMEX silver options expired today - likely with much $35/oz open interest - so you can see how viciously they attacked when silver spiked to $34.50/oz at the COMEX open...


spot silver   

...supplemented by a typical "HUI DEAD RINGER" to keep PM sentiment down...




Speaking of options, gold's October COMEX options also expired today; and what do you know, there was HUGE open interest at the $1,775-$1,800/level; i.e. the Cartel's line in the sand since announcing QE3 two weeks ago. Nah, no manipulation here - particularly as the same thing has occurred essentially EVERY MONTH of the past decade...


Wondered why 1775 has been defended with the passion of a Greek Bridge in the last few weeks...Rich, GATA reader

Of course, of course, Option expiry on the Oct Gold Contract today. Looking at the Call Open Interest yesterday at Strike Prices around present spot levels, one can see why the Option Writer's were so keen to put a stop to Friday's breakout higher,



Note the heavy concentration of Open Interest between 1775 and 1800! Had the market held its highs on Friday into the close, it would have likely set up a run over 1800 into today's close, which would have put another 14,000 Calls in the money at expiry! 14,000 calls is an eye watering 1.4 million ozs of Gold equivalent (circa 44 tonnes),

Now you know why 1775 these last few weeks has been defended with absolutely everything the b*stards could throw at it. My guess is once expiry's through today the pressure's off which might very well mean a quick rebound to new multi-month highs!   

Moreover, according to the "Market Action Makes Commentary" tactic used by the Cartel to "cover" PM attacks, you can be sure this evening's headlines will state "gold down because the Dow fell 100 points." First of all, gold and the Dow have essentially ZERO correlation over the past decade; and more importantly, ALL of today's attacks occurred with the Dow essentially standing still at roughly +35 points; and for that matter, oil standing still at roughly +$0.90/barrel...


dow uso   


...while the base metals not only didn't budge from their HIGHS despite a horrible earnings outlook from one of the world's largest, mining-focused contractors...


Heavy Caterpillar earnings news weighs on stock market


...but closed 1.0% to 2.5% higher on the day!


copper nickel lead   

Remember when lame-brain Zero Hedge cited the "knee jerk" market as the reason silver was hit Friday? You know, due to a "stray headline" - their own words - about possible miner trade talks...


According To The Knee-Jerk Market, South Africa Mines Silver if it matters one whit, given essentially ZERO silver is mined in South Africa...


Top 10 Silver Producing Countries


Well guess what, it turned out to be a "stray headline" after all - what a shock. Of course, "Tyler Durden" clearly has better things to do than address the TRUTH; like accepting HUGE advertising dollars from Obama's re-election campaign...


South Africa Gold Miners Refuse To Call Off Strikes


Oh well, at least I have been 100% CORRECT about the PM market for more than a decade, and will continue to be until the END GAME of GLOBAL FIAT CURRENCY COLLAPSE. Until then, I extend an open challenge to ANYONE to confront my conclusions about PM manipulation; ANYPLACE, ANYTIME. Jeff Christian, Jon Nadler, or "Trader David R" - come and get me; you know where to find me!


You just have to Laugh - Bill Holter, Miles Franklin


And oh yeah, do you know what else makes me happy? KNOWING the Cartel CANNOT knock down gold in both dollars AND Euros - now that the world's BIG MONEY knows the Fed and ECB have launched "QE to Infinity." Thus, Euro gold was again UNCHANGED following another "DOLLAR-PRICED GOLD" PM attack; at day's end, still sitting less than 1% from its ALL-TIME HIGH...




Day (price)

Day (%)


Euro Gold





Rupee Gold






...a breakout GUARANTEED to occur - likely sooner rather than later - as PANIC is setting overwhelming Spain...


Panic cash withdrawals in Spain drain banks; Greece-style economic implosion now imminent


...where its economy is IMPLODING...


Spain In A Nutshell


...and citizens turning VIOLENT...


Spanish Protest Turns Violent


...just as fellow "DEATH WATCH PIIG" Greece is back in the headlines...


IMF Invokes Grexit's Ghost


...the Germans struggle with their "Hobson's Choice"...


Guest Post: Why Germany Is Going To Exit The Eurozone


...and the sovereign debt markets again smell blood...


What Do European Credit Markets Know That Stocks Don't?


Meanwhile, in the United States of Contradiction, a lone wolf Fed governor tells us what we already know...


Fed's Plosser: QE3 Won't Do Much for Growth


...about an impoverished nation...


Half Of Americans Making Under $30K Have Less Than $100 In Savings


...heading for a "fiscal cliff"...


Tax Hikes Likely, No Matter Who Wins Election


..that LIES about its conditions...






U.S. Consumer Confidence





...with blatant, pre-election PROPAGANDA that would make Hermann G�ring blush...


This was the highest print since February, catalyzed by hope the European LTRO might work (it didn't). In other words, the February print was driven by six-month forward hope as well; hope that has been dashed by today's current conditions number. Naturally, the driver for today's miraculous pre-election beat: the "6-month outlook" soared from 71.1 to 83.7. In other words, if the present did not quite work out as had been hoped, one can just defer hope one more time; as surely, this time will be different. Finally, the "confidence" when broken down by income buckets: those with $50k and more in income feel better, and those with $35k and less in income feel better. Who is worse off? Why the middle class, of course, or those with incomes between $35-$50k. it destroys itself with civilized society's oldest foe - BANKER-CONTROLLED PRINTING PRESSES...


180 Degrees Backward...Inflation caused it - Bill Holter, Miles Franklin


Whether you live in the East or West...


Several Exponential Charts MUST...




Call Miles Franklin at 800-822-8080, and talk to one of our brokers.  Through industry-leading customer service and competitive pricing, we aim to EARN your business.





Back to Table of Contents
Book Private Meetings and Events
Miles Franklin seeks creative ways to partner with its clients to market Precious Metals to nationwide audiences.  If you are interested in sponsoring a Webinar presentation with Andy Schectman, President of Miles Franklin, and "Ranting Andy" Hoffman, Director of Marketing, please inquire via email to or, or via telephone at 800-822-8080.
commentaryWednesday Morning Commentary 9/26/2012

Does anyone think I enjoy writing about the MONSTROUS, EVIL Cartel that DESTROYS THE WORLD by naked shorting PAPER gold and silver to maintain PERCEPTION the fiat dollar is worth more than the "digital paper it's not printed" on (to borrow a phrase from "GERALD CELENTE, PATRIOT")?


Oh wait, pardon me. "Trader David R" says it's NOT the government and its henchman "bullion banks" manipulating gold; but instead, "mega hedge funds" and "algos."


Really, "hedge funds?" Like those that have been dropping like flies for years...


The Hedge Fund Implode-O-Meter - tracking the hedge fund implosion


...unable to even outperform staid market averages like the S&P 500; you know, ones RIGGED by the "President's Working Group on Capital Markets?"


Peak Career Risk: Only 8% Of Hedge Funds Are Outperforming The Market


Or better yet, the "algo traders" that have destroyed THEMSELVES, via suicidal "NITE JUSTICE" and other self-defeating tactics - in both the U.S....


SEC Says New York Firm Allowed High-Speed Stock Manipulation


...and international markets?...


Germany to Tap Brakes On High-Speed Trading


WHY ON EARTH would a "hedge fund" or "algo trader" have an interest in suppressing (or supporting) ANY market, for any period of time? Their goal is to PROFIT; i.e., the polar opposite of the Cartel's goal of naked shorting PMs amidst a powerful, long-term bull market as a loss leader? Not to mention, to avoid the very regulatory scrutiny highlighted above - like the highly publicized, four-year government investigation into silver manipulation...


CFTC'S Chilton: Silver Investigation Continues, Expects Something Public 'In Near Future'


In my EXTREMELY KNOWLEDGEABLE view, these are the lamest deflections I have EVER heard, which NO ONE without an "agenda" could even DREAM of - let alone, a supposedly expert gold trader. Heck, "algorithms" have only been around a handful of years, compared to at least 12 years of PM suppression; or, more likely, 50 years if you go back to the overt "London Gold Pool" of the 1960s.


Moreover, apparently Ted Butler - who has dedicated his ENTIRE PROFESSIONAL CAREER to covering the PAPER silver "crime in progress" - is DEAD WRONG...


I believe JPMorgan, by virtue of a massive concentrated short position in COMEX silver futures, is manipulating the price of silver lower than it would be otherwise. If JPMorgan's concentrated short position did not exist, the price of silver would be substantially higher


Or better yet, perhaps JPM's PUBLICLY RECORDED concentrated short position - making silver the ONLY commodity the "commercials" have been net short for 20+ years - is a figment of our imagination. Oh yeah, according to Blythe Masters - JP Morgan is "hedging" for clients. RIGGGHHHHTT, "clients" - like the U.S. government!



Blythe Masters Refutes Claims that JP Morgan manipulates silver markets 
Blythe Masters Refutes Claims that JP Morgan manipulates silver markets



According to "Trader David R," JP Morgan is NOT manipulating gold, but simply buying PHYSICAL whilst they short PAPER. First question - WHY ON EARTH would someone do that, and - per the above statistics - why only in silver? Even if it was just "hedging," why would they do so with MORE PAPER than actual production exists; particularly at "key moments"; such as on Friday just minutes after technical lines in the sand are breached...


Cartel Dumped 2x Annual US Silver Production on Market in 15 Min to Smash Silver Under $35 


...just minutes after headlines such as this cross the tape...


Gold Hits All Time Highs In Euro, Swiss Franc And Brazilian Real 


Since 1980, the published U.S. money supply is up fivefold - and the unpublished supply (M3) AT LEAST ninefold �- while nearly ALL other nations have seen their money supplies commensurately...  


us money supply   

Furthermore, silver industrial demand continues to rise sharply - surging to an ALL-TIME HIGH in 2011 despite the demise of its long-time leading user, photographic film; TRIPLE the 1980 usage rate. Silver demand has risen 3% annually for the past century, and even the compromised, ANTI-SILVER GFMS (Gold Fields Mineral Services) admits roughly 80% of ALL silver production is utilized for industrial applications....


global silver demand   

...while investment demand - the TRUE DRIVER of the silver bull - has had a 19% CAGR over the past decade; just in the U.S., perhaps the most PM-hating nation on Earth... 


us mint silver eagle sales   

Yet, we're supposed to believe SLV has acquired a third of the roughly billion ounces of WORLDWIDE above ground silver supplies in just six years, but prices are still 30% below their high from 30 years ago?


iShares Silver Trust - Product Information


Oh yeah, "David R" doesn't even have the good sense to cover his comments by stating the JP Morgan silver he's "seen personally" is SLV's! Well then, WHO? And tell me, how has a guy that's never worked at JP Morgan seen all its silver, unless the aforementioned "agenda" is involved? Not to mention, did JP Morgan, while whisking a non-employee through its top secret silver vaults, also share the contents of its silver derivatives book, records of encumbrance, or any other "relevant" information?


Thankfully, Bix Weir refuted "David R's" comments yesterday. Oh yeah, the same "David R" that last month - just like Jeff Christian - stated unequivocally the Fed would NOT engage in further QE...


Are JPM's COMEX Silver Positions Only A Hedge Against Physical in the Warehouse?


And let us not forget the "SUNDAY NIGHT PAPER SILVER MASSACRE" on May 1st, 2011; when, with China closed for a holiday, silver was smashed $6/oz in 13 minutes. Yeah, that must have been American "mega-hedge funds" and "algo traders," ALL AT ONCE making such "profit maximizing trades"...


spot silver   


...even as the big "Commercials" - like JP Morgan - were covering shorts...



Silver Price

Net Long














Frankly, I'm only writing this out of VIRULENT, FROTHING ANGER from the past four days of blatant, in your face SUPPRESSION that only a dolt, a liar, or someone "compromised" - like Warren Buffett or a CNBC anchor - could refute. It was bad enough watching the past three days' CRIMINAL activities, including Friday...


ny spot silver   

...Sunday (red line)...


spot silver   

...and Tuesday...


spot silver   

...but today "took the cake"...


spot silver   


After my VERY late soccer game last night, I walked downstairs at 7:20 AM EST to see European equity markets imploding; with Spain and Italy down 3%, respectively, and "big Europe" down 1.5% to 2.5%, as sovereign yields surged on fears the WORST IS YET TO COME...


The Eurozone Con Game Just Keeps Cracking


Even the most Pollyana administration mouthpiece - the brain-dead MSM outlet Yahoo! Finance - blared the following as its TOP STORY...


Has the ECB Really Solved the Euro Crisis? the Euro plunged on "breakup fears"...


Why Exit Is An Option For Germany


...following yet another FAILED German bond auction; surging CDS prices...


European Risk Is Back: CDS Surge, Spain 10 Year Back Over 6%, Germany Has Second Uncovered Auction In Three Weeks


...and collapsing sovereign bond yields...


Spanish 10Y Bond Yield Breaches 6% - Highest In 3 Weeks As Nothing Still Fixed


...PARTICULARLY in Spain, where citizen protests...


Spanish Protest Turns Violent


...and regional secession movements(which I predicted years ago) gain momentum...


Secession Crisis Heaps Pain on Spain


...and Greece, literally on the verge of being DESTROYED...


Greek protest turns violent during general strike


...and ORPHANED...


IMF wants EU to take a haircut on public sector Greek bonds.


...while simultaneously, a Bank of Japan governor informed the world the BOJ is ready to INCREASE QE, just one week after the last round!


BOJ won't hesitate in further easing if risks heighten enough, economy undershoots forecast even after September easing.


Anyhow, at 7:40 AM EST, "DOLLAR-PRICED GOLD" and silver were up modestly, having spent ALL-NIGHT in a tight range while European stocks and bonds CRASHED; and, of course, "DOW JONES PROPAGANDA AVERAGE" futures were down a measly 19 points, as "all's well" in front of the election (I'd give 75% odds of Obama being re-elected) .


And given the plunging Euro, Euro Gold was up nearly a half-percent, on the verge of FINALLY breaking its ALL-TIME HIGH; and with it, likely ushering in MASSIVE fear-based PHYSICAL buying...




Day (price)

Day (%)


Euro Gold




-0.3% the point that even the heavily ANTI-GOLD Kitco website acknowledged it...


Gold Advances on Signs of Demand in Euros, Indian Rupees


...while simultaneously, two MASSIVELY GOLD BULLISH headlines emerged, the first from China...


China Buys North Korea's Gold Reserves As South Korea Increased Gold Reserves By 30%


...and the second from South Africa, the world's fourth largest producer...


39% Of South African Gold Production Is Now Offline


However, amidst this flurry of bullish PM news and market action - and not a single market WORLDWIDE so much as budging - this is what the "hedge funds" and "algo traders" did at EXACTLY the 8:20 AM COMEX open...


24hr gold   

...yet again pushing Euro Gold down (in the same MANIPULATED manner as we've recently seen with Rupee gold) - just as its ALL-TIME HIGH was about to be breached...






Day (price)

Day (%)


Euro Gold






...while the Dow not only didn't budge, but opened HIGHER!


mini dow   


As for silver, it has been INCREDIBLY resilient, surging back to turn positive with gold still down $13/oz until - of course - EXACTLY 10:00 AM EST, when a combination of Cartel "DLITG" and "Dow/Gold x 2" algos came in to push it back down. As I write at 10:30 AM EST, gold is down $14, the Dow 20 points, and silver a measly dime...


spot silver   


Meanwhile, in the United States of Fiat Implosion, municipalities are collapsing...


California Screaming As 4th Muni Bankruptcy Looms in Atwater validated by today's New Home Sales data...


Less Than Expected 31,000 New Homes Sold In August; Dent "Recovery" Meme


...which somehow will still be deemed a "recovery"... the captive, manipulated MSM...


30 Examples of Why America Is No Longer a Free Country


...despite the REALITY more and more people are realizing...


Home prices may not return to peak until 2023


Now that the illusory, PPT/QE/ESF-propped effect of Draghi's "whatever it takes" garbage is disappearing, the TIME to prepare is running dangerously low. Thus, I PLEAD for you to...




Call Miles Franklin at 800-822-8080, and talk to one of our brokers.  Through industry-leading customer service and competitive pricing, we aim to EARN your business.


spanish flag burning  



Back to Table of Contents 

BFI Wealth, Zurich - Swiss Annuities and Managed Accounts    

Miles Franklin and BFI Consulting of Zurich, Switzerland, have partnered for the past two decades in offering access to offshore annuities and managed accounts.  Born at roughly the same time in the early 1990s, both firms have successfully PROTECTED clients via quality, secure, private accounts holding PHYSICAL Precious Metals, annuities, and other managed products.  BFI is a global leader in the sale and maintenance of Swiss annuities and privately managed accounts - particularly to U.S.-based clients; and through its Global Gold subsidiary - utilizing worldwide storage leader Via Mat - offers international Precious Metal storage services in Switzerland, Hong Kong, and Singapore. As with Miles Franklin's Canadian offshore storage program, Global Gold offers allocated storage OUTSIDE the banking system.    

rantCounterfeit Gold?

In November 2009, it was reported that 400-ounce gold bars filled with tungsten - a near-worthless element with similar weight and density properties to gold - were discovered in Hong Kong. Consequently, Precious Metal counterfeiting received its first dose of widespread media coverage...


Tungsten Filled Gold Bars In Asia


As no follow-up incidents were reported for nearly three years, the incident was largely forgotten by March 2012 - when a one kilogram (32-ounce) tungsten-salted bar was found in London...


Tungsten-Filled 1 Kilo Gold Bar Found In The UK


...gaining further traction this month, when not one...


Tungsten-Filled 10 Oz Gold Bar Found In The Middle Of Manhattan's Jewelry District


...but multiple 10- ounce counterfeits were discovered in Manhattan; again, filled with tungsten...


Gold Counterfeiting Goes Viral: 10 Tungsten-Filled Gold Bars Are Discovered In Manhattan


As discussed in prior RANTS, Miles Franklin principally recommends one ounce and smaller bullion coins; given the myriad advantages they have over larger denominations. Given the size, mobility, and universal recognition of smaller denominations, they tend to be the most liquid, with the highest premiums; particularly those manufactured by the world's five largest mints - in the U.S., Canada, Australia, Austria, and South Africa.


Moreover, one-ounce and smaller coins are near impossible to counterfeit, as the costs of such delicate operations are prohibitive. From a well-know bullion expert Miles Franklin has regularly dealt with for years...


One ounce coins and bars would be very, very difficult to counterfeit, a scheme that have NEVER been found to have occurred, anywhere.


As for larger denomination bars - such as the ones discovered to have been tungsten-salted - let me first say there is as strong a likelihood that the Cartel was responsible than an actual, common thief. The culprits may never be revealed, but such events are quite rare; and per the three above examples, tend to "conveniently" emerge when gold sentiment is surging after a strong price increase...


gold sept 21   

Due to the large size of such bars, it is possible to cost-effectively fill them with tungsten. Irrespective, if not done expertly, any bullion dealer's measuring apparatus would spot minute weight and density differences immediately. Consequently, such events very rarely occur, and not a single instance has been reported by a Miles Franklin client in its 22-year history.


That said, as the bull market proliferates - and gold becomes more valuable - the risks of both private and government counterfeit operations will increase. Fortunately, modern technology has been developed to counter such fraud, as noted by the same source...


Obviously, the best answer is to drill and cut all larger bars. However, we prefer non-destructive testing. We recently acquired an X-Ray machine to assist in counterfeit detection - particularly useful for things like 100 oz silver bars - to supplement our standard weight and density tests. Moreover, we are attempting to ascertain whether we can make use of a GE Phasor XS on 10 ounce bars right now, per the video below...


Testing the Purity of Gold Bars with Phasor XS Ultrasonics


...who concludes thus...


Between X-Ray and Ultrasound, we should be able to detect problems on any size products. However, this is a good reason to stay away from some of the older and larger gold bars; and stick with product such as Gold Eagles or the new Sunshine One-Ounce Gold Bars with validator holograms.  Moreover, counterfeiting gold eagles would bring the full weight of the U.S. Secret Service down on someone, so it is very unlikely to ever occur...


sunshine minting   


Given heightened industry awareness of the potential for counterfeit coins, and the aforementioned technology, we believe the odds of a proliferation of PHYSICAL PM counterfeiting to be infinitesimal; as does our good friend, Jason Hommel, who penned the following, brilliant article today...


Fake 10 oz. Gold Bars - (Don't worry, paper money is an infinitely bigger scam) - Jason Hommel


Not only do we understand our responsibility as a business - particularly in an unregulated industry - but feel a moral obligation to PROTECT clients, in every way possible. Which is why you can be sure Miles Franklin will go to great lengths to confirm the authenticity of its products.




Call Miles Franklin at 800-822-8080, and talk to one of our brokers.  Through industry-leading customer service and competitive pricing, we aim to EARN your business.


Back to Table of Contents 

mailboxRanting Andy's Mailbox



I suspect that you have been inundated with questions about David Schectman's article yesterday about Trader David R. who claims that JPMorgan and the big banks own a massive amount of physical Gold and Silver and therefore there massive short positions are in fact hedges against their long positions that are in fact legal.  If this is true, I would agree that it makes sense for the banks to not only hedge their positions but to purposely keep the prices under control so that they can accumulate more physical metals at discount prices.


BUT, I do wonder if JPMorgan does in fact have all this physical silver that the trader claims they have if this is the SLV silver that they are supposed to be the custodian of.  If they are only the custodian and not the rightful owner of the Silver, their massive short position would now be in direct conflict of the SLV silver owners who are not interested in controlling the price.


Maybe I'm overanalyzing this, but if what David wrote in yesterday's article is true, I certainly buy the argument that the banks are doing everything they can to keep the price of Gold and Silver from rising too rapidly so that they can continue to accumulate as much physical as possible so when prices start to explode higher eventually the banks will be one of the primary beneficiaries.


Love your rants and would love to hear your opinion on this topic....






These are all good questions, and you know my personal view of "David R." Fortunately, Bix Weir wrote a fabulous article refuting David R's points, which speaks for itself...


Are JPM's COMEX Silver Positions Only A Hedge Against Physical in the Warehouse?







Hi Andy,


Here are a few thoughts concerning David R.: what he says about no manipulation in silver and gold is not so. All he shows is that there might not be a shortage on those paper trades. Though this is not proof enough of overall market shortage.


It should be noted that a 5% position in copper was considered a concentration, and was prosecuted; the Hunts were long less than these clowns are, and that was purported to be a manipulation. The Hunts were scape-goated, via prosecution, for that. TPTB apparently also read Warren Buffet the 'long concentration' riot act, reminding him of the Hunts, and he has towed the line ever since. Both the Hunts and Buffet had to divest.


These clowns are different in that they are fellow bankers and they perform extra duty for the government, keeping the perception of the fallacy of the supremacy of fiat currency out there. Their concentration is held as a 'collusive unit', not in any one person's name. When the metal goes 'no offer', they will be the first out of the vaults. They will know before the panic hits and will be long gone.


But, the level of exposure is much too high, and the way this trade is so lucrative is because of collusion and insider information (not to mention free government funding). Therefore, it takes a lot of hubris to say that this can be considered non-manipulative. Insider information via collusion -- both are illegal for anyone other than these individuals.


There is the smoking gun. Those positions need to be 'clawed back' to pay off those from whom it was stolen. Up to 150 million ounces (or the equivalent in dollars) were stolen in May of 2011, and several times more than that since. These are the only large holdings that would probably not have been re-hypothecated, and a perfect pool for restitution. They need to be forced to divest ala the Hunts/Buffet. They need to be lead off to jail, too.


There you have it - Is there anything here?


Take care, and thanks for the forum.






You are 100% correct, in ALL aspects!


As for David R., my thoughts of him are well-known.


Bix Weir wrote a fabulous rebuttal of David R this afternoon, just out...


Are JPM's COMEX Silver Positions Only A Hedge Against Physical in the Warehouse?









The included link, to a Casey's Daily Dispatch, discusses the political turmoil in Saudi Arabia, which is going on unreported by the media, big time! If these events escalate, and it is likely according to the author, we could see $300 per barrel oil extremely soon, as well as the "Petro Dollar Collapse," which will end the US Dollars dominance and, in my words not theirs, precipitate as a "Black Swan" event the beginning of the economic collapse.


Here is the link:


It is amazing the number of potential events which are possible to be the triggers which are visible and /or not reported; how many exist which are not? As the Mogambu Guru says....WAFD! (We Are Freaking Doomed.)






This is just the beginning, and anyone that believes the "apartheid-like" Saudi Arabia will escape Arab Fall and Winter is crazy.


And by "apartheid-like," I mean a tiny minority of U.S.-puppets run a nation where the large majority HATES and despises Western influence.


Haven't read the Mogambu Guru (Richard Daughty) in awhile - I love that guy!





Back to Table of Contents 

Reliable Financial Advisors  

In a world of heightened speculative and counterparty risks, finding someone you can trust may be the most important research you do. Miles Franklin does not sell stocks, but is frequently asked if we know of reputable, full-service brokers. WE DO NOT CONDEMN OR CONDONE EQUITY INVESTMENTS, but want investors with such interest to be honestly and competently handled.

In resource stocks, the folks at Sprott Global Resource Investments - managed by Eric Sprott and Rick Rule - are the best in the business. In various capacities, we have worked with Eric Angeli, Jeff Howard, Kenton Toews, Mishka vom Dorp, Jason Stevens, Anthony Marsh, and Andrew Jackson - all of whom are diligent, ethical, and knowledgeable. That style of business is indicative of the reputation Global has built over the past 25 years. You can feel comfortable with any of their brokers, reachable at 800-477-7853.

For all other stocks - including large cap gold, silver and other resource equities - Nick Shermeta, from Northland Securities here in Minneapolis, is as trustworthy and knowledgeable as they come. Nick is a Senior Vice President with more than 20 years experience, but will treat you as if you were his only client. You can reach Nick at 612-851-5908, or by email at

The common denominator is decades of Wall Street experience, which should give you comfort that well-seasoned and weathered hands are helping manage your portfolio. Notably, we do not receive compensation for these recommendations. We just want you to know that if they are good enough for us, they should be good enough for you too.

About Andy Hoffman

Andrew ("Andy") Hoffman, CFA joined Miles Franklin as Marketing Director in October 2011.  For a decade, he was a U.S.-based buy-side and sell-side analyst, most notably as an II-ranked oil service analyst at Salomon Smith Barney from 1999 through 2005.  Since 2002, his focus has been entirely on Precious Metals, and since 2006 has written free missives regarding gold, silver, and macroeconomics under the moniker "Ranting Andy."  Prior to joining the company, he spent five years working as an Investor Relations officer or consultant to numerous junior mining companies.   An archive of Andy's "RANTS" can be found on the Miles Franklin Blog here.


For more information on Miles Franklin Ltd. visit our website.

Miles Franklin | 801 Twelve Oaks Center Drive | Suite 834 | Wayzata | Minnesota | 55391 | 1-800-822-8080


     Like us on Facebook View our profile on LinkedIn Follow us on Twitter Find us on Yelp Visit our blog View our videos on YouTube    Join Our Mailing List!
For acronym clarifications, visit our Abbreviations Page
Call 800-822-8080 for a Quote

Readers are advised that the material contained herein is solely for informational purposes. The author and publisher of this letter are not qualified financial advisors and are not acting as such in this publication. The Miles Franklin Report is not a registered financial advisory and Miles Franklin, Ltd., a Minnesota corporation, is not a registered financial advisor. Readers should not view this publication as offering personalized legal, tax, accounting, or investment-related advice. All forecasts and recommendations are based on opinion. Markets change direction with consensus beliefs, which may change at any time and without notice. The information and data contained herein were obtained from sources believed to be reliable, but no representation, warranty or guarantee is made that it is complete, accurate, valid or suitable. Further, the author, publisher and Miles Franklin, Ltd. disclaims all warranties, express, implied or statutory, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, accuracy and non-infringement, and warranties implied from a course of performance or course of dealing. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. The author, publisher, Miles Franklin, Ltd, and their respective officers, directors, owners, employees and agents are not responsible for errors or omissions or any damages arising from the display or use of such information. The author, publisher, Miles Franklin, Ltd, and their respective officers, directors, owners, employees and agents may or may not have a position in the commodities, securities and/or options relating thereto, and may make purchases and/or sales of these commodities and securities relating thereto from time to time in the open market or otherwise. Authors of articles or special reports contained herein may have been compensated for their services in preparing such articles. Miles Franklin, Ltd. and/or its officers, directors, owners, employees and agents do not receive compensation for information presented on mining shares or any other commodity, security or product described herein. Nothing contained herein constitutes a representation, nor a solicitation for the purchase or sale of commodities or securities and therefore no information, nor opinions expressed, shall be construed as a solicitation to buy or sell any commodities or securities mentioned herein. Investors are advised to obtain the advice of a qualified financial, legal and investment advisor before entering any financial transaction.