By: Richard Daughty, The Mogambu Guru - 15 April, 2016
Lately, I am getting, you know, really scared. Oh, not the ordinary kind of day-in, day-out kind of scared, constantly dreading both the appearance of childish-yet-pointless alliteration and the coming calamitous collapse of a catastrophic cataclysm caused, pausing for breath, by the completely insane overproduction of cash and credit by the (you guessed it!) evil Federal Reserve, and then winding up, as we see, with both. Full Story
The big buzz yesterday in the precious metals market was the news that Deutsche Bank has agreed to settle charges for its role in manipulating the London Bullion Marketing Association (LBMA) daily gold/silver price fixings. My view on this, albeit admittedly jaded, is that it is akin to the settlement charges being paid by the big Wall Street banks for their fraudulent behavior in the housing bubble mortgage market. Although Deutsche Bank has agreed to “spill the beans” on other banks, I have yet to hear any mention of JP Morgan, Citibank, Goldman Sachs or any number of other western bullion banks who engage in daily price intervention in the gold and silver futures market on the Comex. Full Story
By: Adam Hamilton, Zeal Intelligence - 15 April, 2016
Gold-mining stocks surged higher this past week after breaking free from their high consolidation. This newest upleg catapulted gold stocks to a doubling in less than 3 months, a remarkable world-leading performance. But despite its quick doubling, this red-hot sector still has another easy doubling left to come from here. Gold-mining stocks still remain greatly undervalued relative to prevailing gold prices. Full Story
The Fed is “one and done” for rate hikes. We called this back in mid-2015. The US economy is far too weak for the Fed to engage in anything resembling a series of rate hikes. Corporate leverage, household leverage, even the national debt stand at levels that limit the Fed from hiking rates. Full Story
To understand the relationship between the gold ETFs’ inventories and the price of gold it is necessary to grasp how the ETFs work. As we already know, the aim of gold ETFs is to replicate the performance of gold. How do they achieve that? Full Story
The first Fed rate hike in nine years did so much damage that it took multiple Central Banks unveiling multiple new policies to undo it. In light of this, what are the odds Obama pushed Yellen to refrain from hiking rates and pushing an already weak economy into full-blown recession? Pretty darn high. Full Story
In a surprising development, a group of plaintiffs in an antitrust litigation case against Deutsche Bank, HSBC Bank plc, the Bank of Nova Scotia, and UBS AG, have just announced that Deutsche Bank is in the process of negotiating the formal terms of a settlement agreement with the plaintiffs. Deutsche Bank, HSBC and Scotia are the only members of the London Silver Market Fixing Limited, a private company that had operated the London Silver Fixing auctions until mid August 2014, after which time that auction was superseded by the LBMA Silver Price auction. Full Story
NIRP (Negative Interest Rate Policy) is an often shocking term, and has been the woe of many in retirement. It is a plague that European policy makers have unleashed on many of their citizens, and it very well could be coming to North America before you know it. At least, this is how Pierre Lassonde of Franco Nevada sees it. As one of the most respected names in the industry, his warning should not be dismissed, and at the end of the day, why should it be? Is the threat really that unlikely? Full Story
By: Peter Schiff, Euro Pacific Capital - 14 April, 2016
The Winter of 2015-2016, which came to an end a few weeks ago, has been officially designated as the mildest in the U.S. in 121 years according to NOAA. While this fact will certainly add a major talking point in the global warming debate, it should also be front and center in the current economic discussion. The fact that it isn't is testament to the blatantly self-serving manner in which economic cheerleaders blame the weather when it's convenient, but ignore it when it's not. If economists were consistent (and that's a colossal "if"), the good weather would be taken as a reason to believe the economy is weaker than is being reported. Full Story
By: Peter Spina, President of GoldSeek & SilverSeek - 14 April, 2016
Gold and Silver along with Mining-Exploration Stock Updates:
Gold Standard Ventures, Fortuna Silver Mines, Goldsource Mines, Silvercrest Metals, Gold Resource Corp., BitGold, Canarc Resources and New Jersey Mining Full Story
The doom-and-gloomers would have us believe that since the credit crash and Recession, the U.S. has entered a period of terminal decline. They further preach that with the aging of the Baby Boomer generation, our country’s best days are behind it. What they’ve failed to realize is that Millennials will be gradually transitioning into the economy to pick up the slack left by the exiting Boomers. Indeed, this younger generation is poised to deliver a much needed stimulus to the economy once the long-wave generational cycle kicks into full gear. Full Story
But if central banks are in the gold market surreptitiously, what's wrong with calling it "conspiracy"? For central banks and other government officials often meet secretly to decide upon and implement a course of action -- the very definition of "conspiracy." In that case it is not "conspiracy theory" but "conspiracy fact." Full Story
By: Gordon T. Long and Jeff Berwick - 13 April, 2016
In no way does this new central bank crypto-currency compete or defeat Bitcoin in any way. In fact, central banks are extremely worried about Bitcoin. They’re trying to bring everyone into the banking system so they can establish a one-world central bank and taxation system. They planned to create a system that impoverishes people to get the wealth into the hands of the 0.0001%. Full Story
With the absurd imbalance between Comex gold/silver contracts and the amount of underlying physical gold/silver bars held at the Comex for delivery, it’s not a question of “if” the Comex eventually defaults but a question of “when.” Anyone who disagrees with this assertion is either in a state of pathetic denial or appalling ignorance. Full Story
Last weeks message to you regarding the "Panama Papers" release suggested....."don't be duped". What impressed me immediately as very strange was;...there were no Americans or Europeans on the list of tax cheats, etc., with the exception of David Cameron's father and two or three Members of Parliament. The skunk smelt then and still smells now. Why were mostly only names from the "East" mentioned and nearly none from the West? Full Story
Just about every major banker and finance minister in the world is meeting in Washington, D.C., this week, following two rushed, secretive meetings of the Federal Reserve and another instantaneous and rare meeting between the Fed Chair and the president of the United States. These and other emergency bank meetings around the world cause one to wonder what is going down. Full Story
From yesterday's huge issuance of new contracts to today's latest enforcement of the "Never, Ever, Ever, Ever Rule", the control and manipulation of the gold market by The Criminal Banks continues in earnest. While it's nice to see prices remaining firm, there is nothing to suggest that this is going to get any easier, anytime soon. Full Story
The silver market appears to be gaining momentum, but spot prices remain well below their highs from last year.The gold:silver price ratio remains elevated at 79:1. As recently as 2011, gold sold for 32 times the price of silver, and historically it has often sold for 16 times or even as low as 10 times the silver price. Full Story
What strikes one immediately is that the Fed has been creating money hand over fist; one hand they create money, with the other hand they buy assets and put it on their books, all looks well until you realize this is something called monetization of debt. Paper buying more paper and in most nations this leads to hyperinflation and a currency collapse. However as the Dollar is the world reserve currency. The Fed can magically create money out of thin air and use this newly created money to pay bills and or prop up markets as is currently the case. Full Story
By: Gary Christenson and Graham Reinders - 12 April, 2016
My preference is “honest money.” Keep the politicians, central bankers, and commercial bankers out of the process of money creation, counterfeiting, and manipulation. Gold standards fail, I think, because of politicians and central banks, not because they are based on gold, but politicians and central bankers are not going “quietly into the night” so plan accordingly. Full Story
The price action continues to be superb for most mining stocks held by the Western gold community. Now, silver bullion is poised to join the upside fun. That’s an indication that the current rally will enter its final stage. The final stage of a major rally in any investment class can produce truly spectacular gains for investors. Huge value-oriented funds are buyers of an array of gold stocks, and so for the past few weeks I’ve suggested that if there has ever been a time for the average Western gold community investor to “chase price” in the gold stock sector, that time is now. Full Story
In this series we turn our attention to growth in the gold mining sector, the most active of which, occurs at the Mid-Tier level. We study the growth of eight Mid-Tier gold mining companies: B2Gold (TSX:BTO), New Gold (TSX:NGD), Endeavour Mining (TSX:EDV), Oceana Gold (TSX:OGC), Primero Mining (TSX: P), Newmarket Gold (TSX:NMI) , Teranga Gold (TSX:TGZ), and Alamos Gold (TSX:AGI). Full Story
Ever since Yellen and company decided to sacrifice the US Dollar in order to prop up the Emerging Markets, gold has refused to back down. Barring some sort of yet another shift again in their attitude towards the Dollar, it would seem unlikely for a sharp breakdown in the gold price in spite of that imbalanced spec long position. Simply put, while the specs are overextended on the long side, from a fundamental perspective, there just does not seem to be enough of a catalyst to spook them enough to send them heading for the hills in a large way at this time. As long as the downside support levels continue to hold firm, they will stick around. Full Story
Your secretary/treasurer was interviewed for a few minutes this morning in Singapore by Angie Lau in Hong Kong for Bloomberg Television's "First Up" program, discussing the ever-increasing evidence of surreptitious central bank intervention in the gold market and the need for mainstream financial news organizations to ask central banks some specific questions about it. Full Story
The number of individuals who are more than 60 days late on their auto payments surged 11.6% year over year; this brings the current delinquency rate to 5.16%. During the financial crisis of 2008, the delinquency rate peaked off at 5.04% according to Fitch. This fully validates the argument we have made over the years stating that this recovery is nothing but an illusion. This illusion is maintained by hot money, and this was done by keeping rates so low that it would force any sane person or business to speculate to earn a higher yield. Full Story
Below is a daily chart for the HUI which shows one of the original patterns that formed the, what turned out to be a Diamond reversal pattern to the upside. There are at least several more reversal patterns that formed at this most important low. As you can see the Diamond had seven reversal point making it a reversal pattern to the upside. The breakout was accompanied by a gap and then a backtest to the top rail. Everything looked good to go at that point then after just four days of rallying the HUI quickly reversed direction and traded below the apex of the blue triangle which is not what I wanted to see as that usually is a bearish setup in this case. Full Story
My recent work has focused on the seasonal price trends of major commodities. I previously documented year-over-year price moves of gold and oil over a period of 20 years (Mercenary Musings: January 4, 2016; March 28, 2016). Once again employing a series of normalized charts, I submit our research on the price of copper from 2003 to 2015 and show, much like gold and oil, there are recurrent intra-year trends. Note that our data set is the closing Comex spot price for Grade A Copper Cathode. Full Story
Silver is the most managed commodity on the planet because its relationship to gold – because if its held down this will help control the price of gold. The status quo needs to have the multitudes remain complacent and distracted from their nefarious ways, because they are debasing everything, not the least of which is the currency. So a ‘no fly zone’ has been declared on silver because of its importance in maintaining the status quo’s illusion – the balloons, bubbles, and other inflated deception. Because of this, silver has become the most important market in the financial universe, where all other markets effectively hinge on it like never before, which is a fundamental reality status quo price managers will regret in coming years. Full Story
Fundamentals for gold are very bullish. Price inflation in key components of the economy exceeds bank interest. Historically this provides energy for gold to rise, as bonds no longer offer protection. Stock markets around the globe are in decline. This money is looking for safety. Negative interest rates are causing people to withdraw savings and look for a place to put this money – gold and silver to the rescue. Commercial traders are short – but then they are always short. Perhaps this time they will help the bull market along by covering short positions. Full Story
I believe that the War on Cash will end without such an extreme, but, just as the Treaty of Versailles, will be stopped by the people of the world as a result of a monetary stricture that is simply too oppressive to be tolerated. This will by no means be a pleasant historical period to travel through. Many people will have their savings wiped out. Many will literally starve. But the anger that’s created in them will reveal the banks as the clear “enemy” in this drama and, those citizens who are presently respectful of the laws of their country, will increasingly defy the enemy. They will resort to an alternate system. This is historically what has always occurred when people have been squeezed to this degree and it will repeat itself this time around. Full Story
In The Real Cost of Growth for Gold Miners – Part 1 we measured the cost of growth of eight Mid-Tier miners - B2Gold (TSX:BTO), New Gold (TSX:NGD), Endeavour Mining (TSX:EDV), Oceana Gold (TSX:OGC), Primero Mining (TSX: P), Newmarket Gold (TSX:NMI), Teranga Gold (TSX:TGZ), and Alamos Gold (TSX:AGI). In the second part of this series we will show how growth is reflected in the market value of the companies. Full Story
Gold popped to a one-week high following Federal Reserve minutes that indicated policy makers would remain cautious on raising interest rates, reports Bloomberg. Gold speculators think the precious metal has more room to run too; while gold futures have dipped from a 13-month high, hedge funds are the most bullish in fourteen months as seen in the chart below. Full Story
An Open Letter to the Next President, Part 5 The Need for More Revenue Giving Everybody Some of What They Want… But Not Everything They Want Be Radical, but Phase It in Slowly A Few Final Thoughts Abu Dhabi, Raleigh, and Home Full Story
The theme of this article is the arrival of April, the most significant month on the Satanist calendar and the month with an extremely long list of celebrated assassination and mass murder events that they boast of. Some events are well-known to follow the April pattern, while others are not. The relevance to the financial world is immediate, when one considers that the Chinese have a planned launch of the Shanghai Gold Price Fix, as well as the introduction of the Shanghai RMB-based Gold Futures contract, the date arranged at April 19th. This date is right smack dab in the middle of the week marked by the Celebration of Fire. Full Story
The gold price didn’t do much of anything on Friday. The low tick came about 11:20 a.m. BST in London—and from there it chopped upwards to its high tick, which came just after the COMEX close in New York—and the high tick was only a dollar or so above where it closed in New York on Thursday afternoon. From there, gold was sold down for a small loss on the day. Full Story
The Chinese are believed to have taken these measures in collaboration with their close ally, Russia. Commentators say the two countries are keen on breaking the metal free from the price manipulation undertaken by the banks and governments in the US and the UK. And once price discovery moves from West to East, the two countries will allow the price to float to free-market levels, and the value of all the gold they have been accumulating will skyrocket. Full Story
In summary, probably the most important take-home from this discussion is there is a significant, but not overbearing, cohort that is trying to live off of jobs that were historically performed by young people and those looking for casual income. The loss of the majority of the manufacturing base in the United States needs to be included in this discussion. For the most part, this discussion is not taking place. The evisceration of the goods-producing base has been a national policy for nearly 30 years and it is long overdue that those responsible be held accountable. Full Story
I believe a 2016 recession is already a fact in the US, and the Great Recession will return with a vengeance. That recession never really ended. It was simply propped up while all of its fundamental flaws remained, and the props are now all ended or failing. It will ultimately become the mother of all recessions. Even the Great Depression has nothing up on what we are now entering. Full Story
Jacob Hornberger has written an engaging ebook — The CIA, Terrorism, and the Cold War: The Evil of the National Security State — that exposes a government not found in the Constitution. Hornberger refers to it as a “fourth branch of government having unbelievable powers of invasion, assassination, torture, and fomenting coups and regime-change operations.” But since, as he says, it is untouchable by the three constitutional branches, I think it is more accurate to regard it as an autonomous government acting in the name of the one created by the Constitution. Full Story
Stocks acted great all week until Thursday showed cracks which are telling me stocks are going to move lower in another correction, and Friday seemed to confirm this but we haven’t released hard lower quite yet. We locked in some nice gains Thursday and now I’m, looking to grab some quick gains on the downside. Full Story
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