So we wait and watch...seriously, what else can we do? It has now been proven and admitted that teams of traders at The Bullion Banks actively collude to manage and manipulate price. (See here: http://www.goldchartsrus.com/chartstemp/MarketManipulation.php) And it's obvious that The Criminals are still at it when you examine the silver chart over the past 90 days. Three massive raids have been staged to inflict devastating, technical damage. Full Story
By: Adam Hamilton, Zeal Intelligence - 16 December, 2016
Gold was again blasted to new post-election lows this week, further trashing contrarian sentiment. The Fed proved more hawkish than expected in its rate-hike-trajectory forecast, unleashing heavy selling in gold futures. This catapulted gold bearishness back up to extremes not seen in a year. Investors are once again convinced gold is doomed, and thus radically underinvested. That’s actually super-bullish for gold. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 16 December, 2016
Responding to the documentation just disgorged by Deutsche Bank in federal court in New York, Doug Pollitt of investment house Pollitt And Co. in Toronto today declares victory for the "tinfoil hat crowd" in the contest over manipulation of the monetary metals markets. But more important, Pollitt chides the gold mining industry for playing saps for the banks that buy and rig the price of the industry's product. Full Story
It has become clear his attitude towards Russia and China is very different from that of his predecessors. Amazingly, he is already wresting power from the deep state, causing it great resentment, which under Obama, Clinton and the Bushes, ran geopolitical policy. From January, barring accidents the world will not be the same, the establishment up-ended. Full Story
In an effort to put the Martin Armstrong saga to bed, I post below quotes and links to two articles he put out in 2010 and 2011 just before being released from prison. Please read not just the quotes provided but his full articles as they are both excellent in content and logic. His 2010 article sounds a lot like "Bill Holter" as I have done this math and logic several times for readers over the years. Back then he said "$5,000 gold is "VERY CONSERVATIVE" ...while he now says it will be as high as gold can go. In the second article he takes on "manipulation" which he has since changed his tune on. Full Story
In many areas of the country prices are already down 5-10%. I know, you’re going to say that offer prices are not reflecting that. But talk to the developers of NYC and SF condos who are trying to unload growing inventory. Douglas Elliman did a study of NYC resales released in October and found that resale volume was down 20% in the third quarter vs. Q3 2015. A report out in November published by Housing Wire said that home sales volume in the SF Bay area fell 10.3% in the first 9 months of 2016 vs. 2015. Price follows volume and inventory is piling up. Full Story
The common recent expectation was that a Trump win was going to crash the markets. In fact, when the market headed higher against a particular analysts’ expectations, he ridiculously claimed that the current equity market rally is a “manufactured rally” for the sole purpose of allowing big money to “escape the market,” only for Obama to then cause a big crash in the stock market before Trump’s inauguration in order to “hand him as big a mess as possible.” You just can’t make stuff like this up. And, amazingly, there are investors that follow this “analyst,” but clearly with a lot less money now in their pockets. Full Story
Yes, this bull market will experience a back breaking correction one day, but that day is still not upon us. No bull market has ever ended without the masses jumping in; in other words, the masses need to turn euphoric. Some of the most famous and foolish naysayers out there, love to use the term “the truth hurts” when talking about the markets. Does the truth really hurt; is the truth not supposed to liberate you or set you free. The most egregious of these naysayers will hide behind such names, and come out with fantastic proclamations that make no sense whatsoever and sound more like the ravings of a lunatic. Full Story
Arch Crawford, head of Crawford Perspectives notes the waning momentum in the US equities markets. Although the technical picture is less appealing, a Santa Claus rally seems likely in the last half of this month. The discussion includes the global theme of currency devaluation. Our guest notes that the Indian currency event could be the most significant, current economic development. Full Story
Rattling an already skittish government bond market, Chair Yellen delivered another seasonal interest rate hike with seemingly greater resolution that the New Year will be tighter than the last… The Fed's holiday wishes had all the usual hawkish trappings we've seen from time to time when the data aligns, with greater confidences in the economy that not one – but three, separate rate hikes could be delivered next year. Full Story
First, Trump wants to reduce regulations hampering business. During the campaign he called for a moratorium on new financial regulations and for a 70 percent reduction in regulations. Importantly, in his 100-day action plan, the president-elect proposed that for every new federal regulation, two existing regulations must be eliminated. Deregulation should stimulate economic growth and the stock market, which is not good for the yellow metal. Full Story
By: Steve Saville, The Speculative Investor - 16 December, 2016
The fundamental backdrop is now definitively gold-bearish because we have a) real interest rates in an upward trend and at a 6-month high in the US, b) US credit spreads immersed in a major contraction (indicating rising economic confidence), c) dramatic relative strength in bank stocks (indicating sharply-rising confidence in the banking/financial system), and d) the Dollar Index in a strong upward trend and near a multi-year high. Given these conditions, any analyst/commentator who is now claiming that the ‘fundamentals’ are bullish for gold is either clueless about gold’s true fundamentals or is trying to promote an agenda. Full Story
By: Rick Ackerman, Rick's Picks - 16 December, 2016
An 1105.80 downside target has obtained since November 18, when Feb Gold tripped a menacing sell signal just above 1200. On redrawing the chart, however, I find that the target should have been given as 1108.70, with 1086.60 as an alternative if Hidden Pivot support at the higher number fails. Were that last number to be reached, gold will have given up 90% of the gains achieved since the rally commenced exactly a year ago. Full Story
In order to make a point, I’m going to address a very popular question, by giving the answer first and then providing the question. The answer does involve a bit of imagining on your part. I ask you to picture yourself at the highest stakes poker game imaginable, where quite literally many billions of dollars are at stake and in which you have just been dealt the indisputable best hand possible - a royal flush. Please accept that you are guaranteed to win. Full Story
The junior mining sector and precious metals continue to be in a bear market due to this rising dollar and QE Taper since 2011 while other nations have been devaluing their currencies to ridiculous low levels such as the Yuan, Ruble and Rupee. The bear market in precious metals and junior miners appeared to end in the beginning of 2016 but was smacked down as the rise of Trump in the US has even pushed stocks and the US dollar even higher. Meanwhile precious metals and the miners remain dirt cheap testing major support. Full Story
Louis Navellier of Navellier And Associates presents stocking stuffers to Goldseek.com Radio listeners in the form of stock candidates (Figure 1.1.). The list stems from the free Navellier Portfolio Grader service - the host reviews 20 stocks advancing from the hold to the buy designation. Topping the list, Honeywell (HON) impresses with strong projected sales and solid earnings, despite the recent erosion of multinational profits. Full Story
I had a completely different post in mind for tonight, but the action in the PM complex has changed my mind. Since the US elections the PM complex has had a hard go of it trapping many bulls in their long positions. The magnitude of this decline especially in gold has been unrelenting in nature, which is how a bull trap is set. Just a short five weeks ago all looked good for this sector as it had one of the biggest rallies in history off the January low for the PM stocks. There wasn’t anything to suggest that five weeks ago the plunge was coming, but since then, there have been many clues that all was not right with the PM sector. Full Story
I’m afraid the Trump train is headed for a sharp economic curve that takes the US further away from free-market capitalism. The US already pulled out of the free-market station a long time ago, but Trumponomics moves deeply into a “mixed economy,” an economy in which government funding and private funding are married. The bankster-baron confederation in the Trump cabinet is where business and government consumate their marriage. Full Story
By: Rick Ackerman, Rick's Picks - 15 December, 2016
Several feints higher in the last week have done little more than trap bulls looking for a breakout. None of the rallies exceeded the two external peaks labeled in the chart, casting doubt on the enthusiasm and buying power of bulls. This is no problem that yet another flurry of buying wouldn’t cure, but until it happens we should reconcile ourselves to more humdrum price action — or possibly the futures taking the path of less resistance and heading lower. Were that to occur, we could expect March Silver to fall to at least 15.995 before finding traction for a reversal attempt. Full Story
Some will say this is strategic on Trump’s part, and maybe it is; but I have one question to raise in the face of that claim: If Trump says it is impossible to even drain the small number of cabinet positions of insiders, banksters and corporate controllers, (because “there are no other choices”), how he is ever going to drain the entire swamp? I’d also point out that, yes, he may need some alligators in order to fight alligators, but is an entire team of Washington insiders and corporate elites really going to turn against friendships they’ve spent a lifetime developing? That would require an outside miracle of alligator transformation. Full Story
At this point in the cycle, the silver market should be relatively easy for the average person to enter. Prices are beginning to move back toward natural supply and demand equilibrium, as large disruptions are occurring between the positioning of dominant futures speculators that have kept futures prices entrapped for nearly 6 years. Full Story
This is the critical takeaway from all of the math above: For the Fed to achieve anything even close to the historical rate of credit growth, the dollar will have to lose a tremendous amount of its purchasing power. I truly believe this is the Fed's grand plan, if we may call it that, and it has nothing to do with what's best for the people of this land. Instead, it's entirely about keeping the financial system primed with sufficient new credit to prevent it from imploding. Full Story
The country’s top economists hold advanced degrees from universities that support central banking. The universities, in turn, receive funding from the federal government, which created the federal reserve system and relies on it heavily for monetary support. Is it odd the universities would promote the Fed as an essential economic institution? Full Story
Post-election airwaves and publications today are filled with bad news, good news, and fake news. The bad news is ‘fake news’ is very real. The good news is fake news is nothing new. The even better news for gold and silver stackers is they have learned to live with decades of fake news about sound money. You already know all about fake news. It used to go by other names – lies, propaganda, false advertising, and brainwashing, to name a few. Now we can add polling results and agenda-driven predictions to that list. Full Story
On election night, gold surged nearly 5 percent–its biggest single-day gain since June 2016. But when Trump took to the stage a few hours later, the price of gold plunged to $1,302.42. Gold dropped even further to $1,217.25 on a stronger US dollar and an anticipated Federal Reserve interest rate hike in December. Full Story
By: John Browne, Senior Economic Consultant at Euro Pacific Capital - 14 December, 2016
Over the past year, central banks, commercial bankers and prominent economists have expressed the view that digital money and transfers should replace large denomination cash and cash transactions. This dramatic transition has been fostered under the guise of the public interest in an effort to curb terrorism, tax evasion and criminal activity. Many observers contemplate more sinister motives that involve increased government control of economic activity. The latest country to engage in this 'war on cash' is India. Full Story
The main reason for the positive seasonal gold price performance between early August to late February are various festivities, including Christmas, the Chinese new year celebrations and the Indian wedding season. Gold is frequently given as a gift on these occasions. Jewelry makers and merchants tend to stock up on gold prior to the festivities, and tend to push up gold prices in the process. Around two thirds of annual mine production are used by the jewelry trade. Full Story
While the action we have seen this past week is still suggestive that we can still see another drop, I think the weight of evidence still suggests that it is not likely that the market will drop to levels below those seen in December and January. Yet, due to the potential for another drop, and until we have developed more of an immediate bullish structure, I will remain hedged in my own account, as I have been stressing since we bounced back to the 28.50 region in the GDX. Full Story
By: Rick Ackerman, Rick's Picks - 14 December, 2016
The March contract on Tuesday exceeded a long-term target at 2270.00 by three points, a seemingly modest feat that could have very bullish implications going forward. Although the small overshoot was not sufficient for us to regard the 2270.00 Hidden Pivot resistance as conquered, the slight breakout should be regarded as a shot across the bow of bears who might be looking to get short at these levels or to hang onto existing short positions. They could breathe a little easier if the day’s record high at 2273.00 endures and the futures fall beneath 2259.50 on Wednesday. But if buyers instead push this vehicle still higher and close it above 2270.00, that would be warning shorts to dive for cover. Full Story
The word “collapse” instantly conjures primal feelings of both fear and excitement whenever we hear it. We fear it because it evokes our collective belief that collapse is fatal and final, yet it excites our imagination to the possibility, however, remote, that perhaps we’ll be among the lucky few to survive and even prosper from it. Full Story
From the moment Donald J. Trump got elected as the next President of the United States, on November 8, 2016, the price of gold tumbled 8 % in the remainder of the month – from $1,282 USD/oz to $1,178 USD/oz. Usually these cascades in the gold price go hand in hand with physical sell-offs in the West and strong demand Asia. It appears November has been no exception. The volume of physical gold withdrawn from vaults of the Shanghai Gold Exchange (SGE) in November accounted for 215 tonnes, the highest amount in ten months. Year to date SGE withdrawals have reached 1,774 tonnes. Full Story
Barely 24 hours before the Fed takes another giant step toward destroying whatever’s left of its “credibility”; and likely, proving yet again that rising rates are decidedly NOT “Precious Metal bearish”; I could easily write full-length articles on a half dozen separate “PM bullish, everything-else-bearish” topics – starting with the fact that, as discussed in yesterday’s “history’s largest bubble” article, the unprecedented equity surge that coincided with Trump’s victory is a giant hot-air balloon floating in a sea of pins. Full Story
Jim and I have received many panicked calls and e-mails regarding Martin Armstrong's latest article. In it he again claims gold will collapse to below $1,000 per ounce and thus the fearful communications. In this very short article, Armstrong questions whether India will begin gold confiscation suggesting door to door searches for "tax evaders". We posted two articles late last year refuting his poor logic and efforts at rewriting history. In the first one, we refuted his claims that markets are not manipulated. Since then of course we have had many settlements by large banks for just that...MANIPULATING MARKETS. Full Story
It’s quite possible, even likely, that Janet Yellen does not want to upset her new boss, Donald Trump. Trump wants inflation, and he likely knows the only “solution” to US government debt is serious inflation that helps debtors and damages creditors. Janet Yellen is likely to help Trump get that job done. Mainstream analysts are seriously underestimating the amount of inflationary pressure that Janet Yellen is willing to tolerate once Donald “The Golden Trumpster” Trump becomes America’s most powerful man, on inauguration day! Full Story
Year-end provides investors with an opportunity to assess past performance, adjust strategies and set a base-case outlook for the coming months. A new Trump Administration in Washington and recent voter backlashes in Italy and the UK suggest that this year, a longer outlook is in order. Following are guesses about how ten trends are likely to play out during the coming US Presidential election cycle. Full Story
Nick Laird and his service, GoldCharts 'R' Us, has long been an ally in the battle against Bank precious metals manipulation. In light if the recent revelations from Deutschebank, Nick has compiled some of the data into charts that you simply MUST take the time to review. Nick's tremendous service can be found at his website: http://www.goldchartsrus.com He has a subscription component that helps him to pay the bills but he also churns out free information and charts on a regular basis. It is his latest public post that caught our attention when we found it linked to the GATA website earlier today. Full Story
Just as we predicted, the Bank of Japan has begun to lose control. Since the November US Presidential election, the Bank of Japan has been aggressively devaluing the Yen. They are doing this to take advantage of the brief window between the election and when Trump takes office and trade deals are renegotiated. As I wrote previously, this scheme will work for a while, but eventually something will "break." It just did. Full Story
The Fear Trade continues to be a rational strategy. Since President-elect Donald Trump’s surprise win a month ago, the Turkish lira has plunged against the strengthening U.S. dollar, prompting President Recep Erdogan to urge businesses, citizens and institutions to convert all foreign exchange into either the lira or gold. Most obliged out of patriotism, including the Borsa Istanbul, Turkey’s stock exchange, and the move has helped support the currency from falling further. Full Story
By: Steve Saville, The Speculative Investor - 13 December, 2016
A short-term momentum extreme occurred at the price peak that was followed by the October-1987 stock market crash, but it is a lot more common for such extremes to be followed by nothing more serious than a routine multi-week correction. With measures of market breadth pointing to a 6-12 month extension of the bull market we probably won’t get anything more bearish than a routine multi-week correction within the next couple of months, although I admit that the near-vertical rally since the Presidential Election has me ‘on edge’. Full Story
By: Rick Ackerman, Rick's Picks - 13 December, 2016
Indeed, the feeble distribution rally to 2264.75 engineered by DaBoyz Sunday night on vaporous volume brought the March contract close enough to the 2267.50 target shown for us to infer that the sensational bull move of 2016 may have climaxed. In any case, I’d be very surprised if the futures were to blow past this number, a major Hidden Pivot resistance. That means I’ll be intently focused on the corrective move from Sunday’s top, since it has the potential to snowball into something BIG. Full Story
The best performing precious metal this week was silver with a gain 0.76 percent. Electronic chat documents released by Deutsche Bank show that UBS and Deutsche Bank, along with others, regularly conspired trades with one another to trigger stop-loss orders, coining the name “STOP BUSTERS” for themselves, according to court documents. Plaintiffs contend that the records show these banks conspired to fix the spread on silver offered to customers and used illegal strategies to rig prices. Full Story
Donald Trump did it. He is the newly elected President of the United States of America – the USA. The USA – that place of apple pie and opportunity – the land of the free and brave – embodied in Donald Trump and his success. Since its inception, America has been the place where your dreams can come true, fomenting a melting pot of hungry opportunists looking to exploit both new frontiers, and the wealth this would bring. Full Story
As I look out over the coming years, I am convinced that we’ll see the blowing up of the biggest bubbles in history, including those of government debt and government promises, and not just in the US but all over the world, leading to an eventual global crisis of biblical proportions – although it isn’t clear what the immediate cause of the crisis will be. Right now I am looking at Italy with intense focus. Full Story
The big story this week is the silver manipulation lawsuit. We remain flabbergasted that people think the price of a commodity could be suppressed by 75% (or a lot more, by some allegations) for years. We also note that the anger is not on the part of silver buyers. It’s would-be sellers who are upset. They wanted to sell at higher prices, and they allege the banks beat them to it, and the price fell before they could unload. Full Story
Bill Murphy of GATA.org outlines the unfolding drama surrounding the gold / silver market rigging by Deutsche Bank. Company executives have offered details of their collaborators at competing financial institutions. Bob Hoye, editor and Chief investment strategist of Institutional Advisors brings decades of experience to the discussion. The new Administration is attempting to rebuild nation in the wake of the destructive NAFTA that decimated the job base. Full Story
By: Jordan Roy-Byrne, CMT, MFTA - 11 December, 2016
Gold and gold mining stocks have been very oversold but have struggled to rally. The sector looked to be starting a rebound until Friday’s decline which pushed Gold to a new low. However, positive divergences remain in place as gold stocks and Silver remain above their recent lows. While the Federal Reserve could say something hawkish next week, the setup continues to favor a rebound in the precious metals sector rather than an immediate decline to new lows. Full Story
I try to show this long term monthly chart for the $COMPQ which I call the “End of the World History Chart” at least once a year or if something interesting takes place. When you look at the 1987 crash it felt like the end of the world at the time but that ended up being the second reversal point in the green bullish rising channel. How many remember the months leading up to the first Gulf war in 1991? Full Story
Fiat currencies are the one thing governments can’t buy up with newly-created money. All are at the moment falling in relation to artificially-inflated stock and real estate prices, though we don’t notice because currencies are valued against each other. But let a soaring money supply translate into rising general prices (something the bond market is now signaling) and it’s game over. Governments will face rising instability without tools capable of managing it. Full Story
If the Fed were to reverse the portion of its QE in which it injected trillions onto big bank balance sheets as well as fomented a mortgage/housing bubble, the Too Big To Fails – including Goldman Sachs – would collapse. Make no mistake, it would ultimately prove to be a good thing. However, there’s also a growing groundswell of grassroot Americans who have “woken up.” Perhaps the only good attribute of the last election is that it hastened the rate of enlightenment. To be sure, the number of Americans who understand the difference between Truth and Propaganda has vastly increased. Full Story
Gold was sold lower by a bit starting an hour after trading began in New York at 6:00 p.m. on Thursday evening, with the Far East low tick coming around 10 a.m. China Standard Time on their Friday morning. It began to crawl higher starting around 1 p.m. over there, but was capped shortly before 10 a.m. in London. It was sold off pretty hard until precisely 1 p.m. GMT/8:00 a.m. EST -- and the subsequent very sharply rally met its ended at exactly 8:30 a.m. in New York. Full Story
Since election day, the markets have reacted as if the Trump administration were likely to be a re-run of the Reagan years. "Stocks and the dollar," reported Bloomberg recently, "have risen since the Nov. 8 presidential election on hopes that Trump’s advocacy of big tax cuts, increased defense spending and deregulation will usher in another period of prosperity. The coming change will be a 'profound president-led ideological shift' akin to Reagan’s, according to Bridgewater Associates founder Ray Dalio. Trump’s advisers and the billionaire himself have embraced the comparison." Full Story
By: Steve St. Angelo, SRSrocco Report - 11 December, 2016
Investors have forsaken all reason, logic and wisdom by rushing into the biggest stock and financial bubble in history. Even some precious metals investors are selling their gold and jumping into the markets hoping to make big profits as President Trump takes over the White house in six weeks. Unfortunately, the worst time to jump into a market is when everyone else is doing the same thing. Of course, this doesn’t mean the Dow Jones Index won’t continue higher for some time, but the fundamentals of the economy continue to rot from the inside out. Full Story
A strange week for me being down while markets are ripping higher. I just didn’t hit the right stocks and that’s all there is too it. That will change. The metals tried to move up with silver leading but that effort failed quickly so if they can’t get going during this seasonally strong time of year, when can they? With an expected interest rate rise coming Wednesday, expect some wild action across the board and doubly so in the metals. Full Story
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