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Weekly Archive

By: Rob Kirby - 6 March, 2020

At the risk of calling the US Director of National Intelligence a conspiracy theorist, the intelligence community clearly states that maintenance of the dollar standard is a tool that allows the US to threaten and impose its will on the world community.

As for the intelligence community’s claim that the dollar holds it value, let’s examine. Using US government data, they are saying that $US 20.67 in 1913 is worth $US 538.61 in today’s 2020 dollars. However, if one had purchased one ounce of gold in 1913 for $US 20.67 it is worth $US 1,684.00 today.. Full Story

By: Craig Hemke, TF Metals - 5 March, 2020

Though we just wrote about this last week, Tuesday's "emergency" fed funds rate cut demands that we write this update. Why? Because the bond market action in the hours since foreshadows even more cuts later this month, and this will have direct implications for gold, silver, and the U.S. dollar. Full Story

By: Keith Weiner, Monetary Metals - 4 March, 2020

Most people assume that the central bank prints money when it buys bonds. They further assume that this increase in the quantity of money causes an increase in the general price level. And, this leads them to assume that the value of the money is 1 / P (P is the general price level). Therefore, when the central bank prints money to buy bonds, it is diluting the value of the money held by everyone—in proportion to the amount printed divided by the total amount in circulation.

This is not even wrong. So let’s look at how it really works... Full Story

By: David Haggith - 4 March, 2020

The Federal Reserve on Tuesday gave the market a double-dose of exactly what it thought the market needed, and the market just about died! On the theory that, if a little is good, more is better, the Fed gave a double cut of interest. It did not go as planned. Full Story

By: Gary Christenson, The Deviant Investor - 4 March, 2020

Bubbles always implode. Many bubbles exist now in early 2020. Expect implosions. There will be collateral damage.

The Fed and other central banks blow bubbles by creating excessive credit—new currency units—and manipulating interest rates too low via their central planning. When has central planning by a team of bureaucrats (or economists) worked well for anyone but the political and financial elite?

The coronavirus pandemic will have direct and secondary consequences for individuals, countries, markets and economies. The risk of bubble implosions will increase. Coronavirus consequences could be the “pin” that pops many bubbles. The virus will be used as a believable scapegoat for a stock market crash, currency weakness and failing central bank policies.

Ayn Rand: “We can ignore reality, but we can’t ignore the consequences of ignoring reality.” We can ignore bubbles and pandemics, but we can’t ignore the consequences of bubbles and pandemics.

Gold will be the “last man standing.” Central banks, “inflate or die” policies, and their fake currencies cannot protect markets from a spreading virus, shale oil depletion rates, overwhelming debt, ever-increasing losses, diminishing solar output, unwise governments, failed banking policies, environmental destruction, and expensive wars. Full Story

By: Avi Gilburt - 4 March, 2020

Early Tuesday morning, I put out an update to our members that noted that the 3135 region as the top of our resistance region, which can point us lower once struck.

Now, we all know that the “surprise” rate cut by the Fed should have been viewed as a positive to the market. In fact, most expected the Fed to act soon, and were certain how this would send the market soaring again. Full Story

By: Richard (Rick) Mills, Ahead of the herd - 4 March, 2020

Paper vs physical gold

Getting back to gold, the takedown on the gold price we saw last Friday may be puzzling to some, considering that gold normally does extremely well during stock market corrections. Roland Manley over at Bullion Star gives a comprehensive account of what happened and why. Without getting into the minutia, we can say that gold’s price movement is currently more driven by the “paper” markets ie. gold ETFs and gold futures, than by the “physical” markets ie. gold bars/ coins and gold jewelry.

Indeed Manley points out that there is a disconnect between the paper and the physical gold markets, evidenced by the fact that gold went down last week in the face of unprecedented demand for the physical metal, according to Bullion Star. Full Story

By: Steve St. Angelo, SRSrocco Report - 4 March, 2020

I’ve been keeping an eye on the Fed Repo Operations and was quite surprised this morning to see the Fed has already injected a record $120 billion into the market. Again, this is the largest single-day amount of Fed liquidity, going back to the first Repo Operation on September 17, 2019.. Full Story

By: Peter Schiff, President and CEO Euro Pacific Capital - 3 March, 2020

But the larger problem is that if the coronavirus ends up closing factories and disrupting supply chains, the quantity of goods produced and available for sale will decline. But since rate cuts and QE merely increase demand by increasing the supply of money and credit to buy goods, we will end up with much more money chasing a dwindling supply of goods. This is a recipe for inflation. As consumer prices rise, so too will inflation premiums on bonds. Instead of falling consumer prices and interest rates that have provided relief in prior recessions, rising consumer prices and interest rates will make the next recession that much more painful.
Full Story

By: David Haggith - 2 March, 2020

Did I not say over and over that it would be the ECONOMY that would end this bull market, not the bull market the would cause recession. Ultimately, the economy will rule, and the market will not survive its recession.

You see, the market is falling apart right now because the economy is already going into recession. Revenue was already in recession. Profits are now dropping. Microsoft, Apple and several other major corporations already stated this week that their profits are declining due to the global economic wreckage. (Not just forward earnings, but current earnings.) Full Story

By: Mike Gleason - 2 March, 2020

Back in October 1987, the stock market crashed by over 20% in a single day. In retrospect, that represented a fantastic buying opportunity. Some fantastic buying opportunities will also emerge from the current carnage. Whether it’s the Dow, or the much more severely beaten up energy sector, or perhaps the much longer-term depressed silver market remains to be seen.

Silver prices have certainly succumbed to selling this week and selling pressure has accelerated here during the last couple of days. The white metal is now down and even 10% since last Friday’s close.. Full Story

By: John Mauldin, Thoughts from the Frontline - 2 March, 2020

Y2K Redux
Supply Chains Unlinked
Fed Futility
Some Silver Linings
How to Find the Opportunity I See Everywhere Full Story

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