By: Chris Marchese, Chief Mining Analyst at GoldSeek.com - 19 June, 2020
This past week was a rather wild rate for the mining indices as they traded in a rather wide range. Gold and mining equities will likely break-out or break-down, at least in the near-term [as we could see the summer doldrums]. A breakdown to the $1,650/oz. level would be healthy and build a strong base for the next leg up. However, with everything that is going on the world, gold and silver should already be much higher. Nonetheless, it is only a short-matter so position right, hold tight and block out of the noise of no-nothings who constantly bash gold due to ignorance, not by fact or logic.
By: Dave Kranzler and Chris Marcus - 19 June, 2020
The alleged gold flow into the Comex and amount of gold for which contract longs are taking “delivery” is at a historical extreme. I use “delivery” because “taking delivery” means being assigned an electronic warrant that records ownership transfer of a Comex registered bar presumably (but not guaranteed) to be sitting in a Comex-approved vault. It does not mean that the party taking delivery takes possession of a physical bar.
Chris Marcus and I discuss the unusual activity at the Comex and the LBMA in the podcast below. But first read this excellent article from Ronan Manly at Bullionstar.com, who dissects fact from fiction about the Comex vault and delivery reports: Full Story
Not coincidentally - we like to think Trump reads AOTH - the administration is said to be preparing a nearly $1 trillion infrastructure proposal – some of the dollars are geared toward 5G/ Broadband - as a way of spurring the world’s largest economy back to life. US GDP growth fell 5% in the first quarter and when second-quarter economic output figures are released, they will be far worse, likely double-digit. Full Story
By: Steve St. Angelo, SRSrocco Report - 19 June, 2020
Regardless, the reason I believe silver will be one of the few KEY INVESTMENTS to own going forward has to do with the dire energy predicament we face… which I label as the ENERGY CLIFF. Unfortunately, most analysts that look at silver as more of an industrial metal do not understand the Falling EROI – Energy Returned On Investment and how it’s impacting the global economy and financial system. Full Story
By: Chris Powell and Andrew Maguire - 18 June, 2020
In a discussion with your secretary/treasurer this week, London metals trader and Kinesis Money founder Andrew Maguire says longtime metals bank Scotiabank is not only closing its metals trading desk but getting out of the vaulting business and all involvement with gold. Maguire says Scotiabank's withdrawal is a "forced regulatory decision," puts in doubt the resolution of the bank's gold positions, creates risks for the bank's counterparties, and raises the prospect of lawsuits. Full Story
By: Chris Marchese, Chief Mining Analyst at GoldSeek.com - 18 June, 2020
Chris Marchese is the chief mining analyst at SilverSeek.com & GoldSeek.com. In this interview, he shares that he foresees a new all-time high silver price within two years. Chris also offers his take on where the gold price is headed and whether we will see doldrums or fireworks in the precious metals sector this summer. He also provides commentary on the junior mining sector and how he arranges his mining portfolio. Full Story
The Fed is trying awfully hard to convince everyone the hardship is going to last a long time, and that’s not the Fed’s normal modus operandi. It knows it cannot expand its QE much beyond the current pace without creating those huge economic distortions mentioned earlier in this article that will devolve into total chaos. If it goes beyond the level it’s at, the economic distortions will go beyond what the Fed is confident it can control.
While stocks were performing very poorly in the early days of the pandemic shutdowns, gold was doing quite well. There was another crisis investment that was doing even better however, as can be seen in the graph below, which shows price changes in percentage terms when compared to mid-February.
Stocks are the green line, gold is the yellow line, and the red line is the prices of 10 year U.S. Treasury obligations.
There is a great deal of similarity between how long term Treasury bonds performed and how gold performed as the crisis was rapidly growing... Full Story
The following is a devious spoof and an attempt at literary satire, with a motive to expose the Deep State on its nefarious plans for humanity and the global economy. The current fabricated, exaggerated, and supported scam of pandemic must be revealed. The hoax designed, planned, and disseminated among the Rockefeller camps of the global fascist state has been impressive. So far, the hoax has lasted four months or longer, its inception a bit vague. The economic damage has made history. Unmasking the hoax will require time and effort still. It is destined to fail, while assured in resulting in a Pyrrhic Victory for the Patriots, aka the White Hats and their alliance.
In light of this motive, the Jackass was able to secure a JPMorgan HQ elevator ride to the SB-13 floor, their sub-basement access to the Faustus Conference Room. The Jackass snuck into Manhattan on a private UPS flight, the harlots with wings. It seems Faustus serves as the doorman for Hades, where David Rockefeller occupies a penthouse suite... Full Story
At Eric Sprott's urging, we've been monitoring the daily abuse of the Exchange For Physical process since late 2017. However, since late March, the daily totals have fallen off dramatically. Why?
Again, the "Exchange For Physical" process is an arcane feature of the COMEX futures market that allows a party to exchange a contract for "physical metal" off-exchange, usually in London. Abuse of this process accelerated in 2017, and we've been documenting the absurd totals for nearly three years. Full Story
By: Dave Kranzler, Investement Research Dynamic's Mining Stock Journal - 17 June, 2020
Without question the economy is not even remotely close to being in the “V” recovery that is implied by the action in the stock market. The immediate economic impact of high unemployment is deferred somewhat by Government “stimulus” payments and unemployment benefits. Many of those unemployed can still pay some bills and feed their families while stimulus payments continue and unemployment benefits are not exhausted. But once those pools of assistance are tapped out, the economic impact will be severe. Full Story
The Federal Reserve has become more aggressive again, after several years of acting docile. As you can see on this chart of the Fed’s balance sheet, it has very rapidly expanded from a baseline from (prior to) 2015 through 2018, of about $4.4 trillion. After which, it had attempted to taper, getting down to $3.8 trillion last summer. Then it was obliged to reverse itself well before responding to the COVID lockdown. Since then, its balance sheet has gone vertical. Full Story
Investment manias are nothing new on Wall Street, but this time the heavy betting is on the mania itself. Speculating on volatility is the latest fad, and it is metastasizing so quickly that in just two short months wagers that the stock market will grow even crazier have become the actual cause of its craziness. The bets mainly involve derivatives, including options and ETFs that are tied to trillions of dollars worth of stock. Big guys, little guys and everyone in-between are supposedly immersed in this tail-risk crapshoot, and it is causing markets to spasm wildly not for bullish or bearish reasons, but rather, as implied above, because of the volatility bets themselves. Full Story
By: Steve St. Angelo, SRSrocco Report - 15 June, 2020
Can you imagine running a business where you lose 23% of your product in just three months?? Even worse, can you imagine being an investor in a business that loses 23% of its production in three months… LOL. Unfortunately, many investors still don’t understand the RAPID DECLINE rate that plaques the shale oil industry. Full Story
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