I don't know about you, but I think I'll buy some more gold and silver today...and take immediate delivery. The current pricing scheme may not collapse next week or next month (as stated above, we've been writing about this for over five years), but it's not going to last forever, either. And when change does come...and a new system emerges that determines price on the trading of physical and not synthetic metal...I'm quite confident that the prices "discovered" are going to be a little bit higher than $1100/ounce for gold and $14/ounce for silver. Full Story
Up until January, the SPX 500 had risen at a near-continuous 45-degree angle, punctuated with an occasional and very brief 1% sell-off. Every time the stock market attempted to correct, the Fed either rolled out another new QE program in some form or used its regional emissaries to soothe the computer algos and retail investor cattle with sweet nothings designed to jawbone the stock market higher. As you can see from the graph above, the one sell-off prior to this past summer was halted a by a Fed puppet’s call for more QE. Full Story
By: Adam Hamilton, Zeal Intelligence - 20 November, 2015
The beleaguered gold-mining sector continues to be plagued by monumental universal bearishness. Nearly everyone assumes the gold miners are doomed, that they can’t survive for long in a sub-$1200-gold environment. But this belief is totally wrong, a consequence of extreme fear’s fog of war. The gold miners’ underlying earnings fundamentals remain very strong, as evidenced by their recent Q3 results. Full Story
Goldfinger was correct when he observed that the massive Fort Knox gold hoard was important to sustaining confidence in the US dollar. When Nixon effectively made Fort Knox gold unavailable to the world, the value of the dollar dropped precipitously. The current 2015 relative strength of the US dollar is still partially supported by the supposed gold remaining in Fort Knox and other bullion depositories in the US. Official gold is listed at over 8,100 tons or about 261,500,000 ounces, of which about 147,000,000 ounces is “officially” stored in Fort Knox. Full Story
On the 19th of this month, two articles were published at the same time, one stating that oil could go to $26 and the other stating that oil is ready to trade to $80. Which one is it going to be, $26 or $80 and how is the average Joe going to be able to discern which one is a depiction of what lies ahead. This is the problem with today’s mass media, in their quest to attract eyeballs, bombastic and often conflicting articles are published simultaneously. One almost feels that most of the major sites have only one agenda, quantity over quality. Full Story
The Fed has created a very dangerous situation. Ever since 2009, anytime the markets came close to breaking down, “someone” (read: the FED) has stepped in a propped the markets up. In 2010, the SPX 500 staged a death cross, where its 50-DMA broke below its 126-DMA (the half year moving average). Stocks were in a perilous state with the 2008 Crash still in everyone’s short-term memory. Full Story
So why is the dollar going up? Because even though the Fed hasn’t raised rates yet, relative to everyone else, the United States is actually sort of tightening its monetary policy. When the Fed declined to raise interest rates because of “international concerns,” this is what they were talking about. Zambia, and everyone else like them. Full Story
By: John Mauldin and George Friedman - 20 November, 2015
Soon after the Paris attacks, I picked up the phone to talk over the situation with my friend George Friedman. George is one of the truly world-class thought leaders on geopolitics. We had an animated 20-minute conversation. I didn’t particularly like what I heard. George thinks we face big difficulties in dealing realistically with the ISIS threat. The more I read—and the more I listen to people like George who have worked these issues for decades—the more I think that we, as a culture, need to face reality. Full Story
There's no doubt that money is important. There's good reason why most of us devote a huge percentage of our lives to pursuing it. But there's much about money that is misunderstood. Many among the masses don't realize the intense and coordinated efforts currently being waged by central planners to trap and devalue our savings through financial repression. They're being fleeced without being aware of it -- working harder and harder for less and less. Full Story
Recently, the Honduras homes and businesses of the family of Jaime Rosenthal were raided by the Honduran government. The properties themselves were seized and other assets taken. The family-owned bank was also seized and has been forced into liquidation, creating potential financial crisis for its 220,000 clients. Full Story
By: Richard Daughty, The Mogambu Guru - 20 November, 2015
On a heretofore misplaced piece of paper that was quickly forgotten until a “Hmmm! Look what I found!” moment, some recent noteworthy news is that the federal government took in $3.2 trillion in taxes on 2015, but spent $3.6 trillion, for a paper deficit-spending balance of $400 billion. Wiping away the coffee stains and (sniff, sniff) what seems to be faint remnants of a chili dog, it appears, as calculated by someone who is more deft with a calculator than I, that this tax haul is more than $21,000 for every one of the country’s 148 million workers who either works full time or part time, which I think is a VERY generous estimate of how many workers there are. Full Story
In August of 2005 I wrote an article entitled Waiting for Goldot. It seems silly now but the mood of the time was one of frustration for many gold bugs as the SPX 500 was on a robo grind upward and gold was seemingly going nowhere. The theme of the article was to have patience, gold was just fine. Of course, that period was in the midst of a more traditional inflation, when gold and commodities out performed stocks. So any measure of patience then was a tiny thing compared to what is needed today. Full Story
By: Steve St. Angelo, SRSrocco Report - 20 November, 2015
According to the recently released Silver Institute 2015 Interim Report, the world experienced annual silver net deficits for 12 years running. This is surprising as the Silver Institute actually reported a small net surplus of silver in 2014. However, the small silver surplus turned into a deficit when 2014 mine supply and total demand figures were revised. Full Story
By: Rick Ackerman, Rick's Picks - 20 November, 2015
Yesterday’s rally was the most promising we’ve seen on the hourly chart in weeks. It surpassed no fewer than four prior peaks without taking a breather; moreover, the pullback has been shallow so far. We’ve been short this vehicle with an 1176 basis, but the current stop-loss at 1093.70 should be closely minded, since even moderate strength on Friday could trigger it. If so, it would give us a theoretical gain of $9300 on the position upon exit. Full Story
There’s a very important warning signal flashing in the financial market right now. Despite the importance of this signal, few people know about it…even fewer are talking about it. Don’t be one of the people who don’t understand the vital importance of the bond market and what it’s telling you right now. This knowledge could help you avoid a huge hit to your net worth over the next 12-24 months. Here’s why… Full Story
Dr. Paul Craig Roberts, Assistant Secretary of the Treasury for Economic Policy and editor / columnist for the Wall Street Journal / Business Week returns. His work indicates a collapse of the national economic "House of cards," is imminent, no longer a question of if, but merely a matter of time. A few leading banks carry more debt each, than the entire world's output: global GDP (GWP: $76 trillion), according to the World Bank. Full Story
It is safe to say that most people are aware that Banksters were predominantly responsible for the economic crisis in 2008. This crisis was created by the banking industry, the very ones that claimed they were the stewards of the economy, the very people that claimed they were the "smartest" men in the room and knew exactly what they were doing. Full Story
The last 15 years have been among the most turbulent on record. Since the year 2000, America has experienced two recessions (including a near depression), two stock market crashes, numerous selling panics, two terrorist attacks, and one of the slowest economic recoveries on record. Full Story
Turns out that Overstock.com has loaded up on some $10 million of gold and silver — metal that would be used to pay employee wages in the event of a crisis. As chairman Jonathan Johnson explains it: “We thought there’s a decent chance that there could be a banking holiday at some point caused by a crisis and it could last for two days or two weeks or who knows how long, and we wanted to be in a position where we could continue to operate during any such crisis.” Full Story
No matter how you look at it, the global economic pie is shrinking. One might be able to argue this is not so based on individual statistical reports issued by various nations. The problem though is this, many reports do not line up with real world reports. For instance, how can "retail sales" in the U.S. grow when retailer after retailer reports worse than expected and contracting sales? The answer is what your own eyes, common sense and of course "individual companies" added together tell you. Full Story
We have published several articles over the past few months refuting proclamations from experts calling for a crash, two of which are Market sell off time to panic? And The Dow index is getting ready to soar. Instead, we viewed each so-called crash event through a bullish lens. We even went so far as to tell our clients to celebrate while the markets were pulling back, a practice that is unheard of today. Full Story
Today we get to see the minutes of the last FOMC Meeting. It's unlikely that it will contain news good for the gold market. With the US Dollar continuing to show strength, commodity markets are under severe pressure. Metals, even precious ones like gold are finding fewer reasons for ownership as long as the Dollar stays firm and world Central Banks move to address economic issues. Right now if you're a commodity trader you're looking at deflation, not inflation in commodities. Full Story
It's exactly like Ron Paul said: "The cashless society is the IRS's dream: total knowledge of, and control over, the finances of every single American." On stories related to the War on Cash, you may have noticed that the mainstream media often uses the word “policymakers,” as in “policymakers have decided to keep interest rates at record low levels.” When the media uses “policymakers,” they are often referring to central bank officials. It’s a curious word choice. As far as I can tell, there is no difference between a policymaker and central planner. Full Story
For more than a year now, commodity prices have been under pressure from the strong U.S. dollar and slowing global demand. This has made a huge dent in the balance sheet of many net exporters of resources, in turn weakening their currencies. This should come as a shock to no one, but what most people don’t realize is just how closely some currencies track certain commodities. Full Story
By: John Browne, Senior Economic Consultant at Euro Pacific Capital - 18 November, 2015
The heinous ISIS attack in Paris is a game changer in Europe. In addition to the horrific amount of individual casualties, the attack has also threatened severe damage to the long term survivability of the European Union as a political entity. Based on the unpopularity and unfeasibility of immigration controls under the EU's Schengen Plan, the events have opened up the Union to renewed attacks from the right, just as its support from the left is crumbling as a result of opposition to EU-mandated fiscal austerity. This two-front onslaught may be too much for the Union to endure. Full Story
There are 4 unmistakable signals a financial crisis of epic proportions is headed straight toward us. And to walk you through each of them, bestselling author Mike Maloney has released a shocking new video. It’s the first episode of the all-new season of the Hidden Secrets of Money series, featuring Harry Dent as guest. And it contains vital information for avoiding a stock market collapse. Full Story
By: Eric Coffin, HRA Advisories - 17 November, 2015
Major markets have continued to rally. All is forgiven and forgotten after the August Scare. Best of all, well known economic prognosticator Janet Yellen assures us that everything is awesome. What could possibly go wrong? The rally and the “new” reasons for the rally are not good news for gold and most other metals—though they would ultimately help some base metals if the optimists are right this time. Full Story
The Internet is filled with supposedly intelligent commentary about why gold prices will continue falling for the balance of the decade. I’m highly skeptical. I will change my mind when the US government balances its budget, begins to reduce national debt, and “gives peace a chance.” Full Story
Wall Street was impressed with the October jobs report that showed the creation of 271,000 new jobs and a decrease in the unemployment rate to 5.0%. It is widely believed that those strong jobs numbers paved the way for the Federal Reserve to raise interest rates in December. In fact, the likelihood of a December rate increase jumped from 58% to 70% based on federal-funds futures trading data. Full Story
In recent weeks the US Federal Reserve has been increasingly hinting that is would raise its policy rate at its next meeting, which is scheduled for December. In recent testimony before Congress, Janet Yellen the central bank’s chairman, described such a move as a “live possibility.” This of course would be bad for gold, because higher interest rates increase the opportunity cost of holding the yellow metal. Full Story
I’ve talked at length about the relationship between US money supply velocity and interest rates, and done so in a positive way. A modest rise in nominal interest rates encourages banks to make loans, and it makes those loans profitable. Most of the QE money has either just sat in bank coffers, or it has been inefficiently invested in US government bonds. I’ve strongly suggested that modest nominal rates can reduce real rates, by creating inflation. That’s negative for the US dollar, and positive for gold. Full Story
At some point, certainly, the concept cannot be lost on law enforcement officials that the banking cartel selling massive paper futures, naked or not, are perhaps violating the law. I say this somewhat in jest, because also at this point, there is clear evidence of the banking cartel taking massive, concentrated, short positions on the Comex, something the CFTC could, but won’t, do anything about. Full Story
We are in a global economic collapse. And it is going to trigger a stock market crash. The Central Bank fueled “recovery” is officially over. Central Banks propped up the financial markets for six years. But the money was spent on financialization and accounting gimmicks (buybacks). That is, it didn’t get into the global economy in a useful way: corporate capital expenditures, job hires, etc. As a result, the global economy never really hit “lift off.” Full Story
As gold began its descent from $1190 to a recent low of $1073, certain quarters of the gold investment community began to retell a familiar tale. This drop was engineered by central bankers aided and abetted by unscrupulous investment banks in an attempt to stop gold being the canary in the inflationary mine. I won’t quote sources as they are not difficult to find. Full Story
As noted above, a downside breach of $1180 on a closing basis and especially the loss of $1070 should it occur, would result in a sizeable wave of remaining longs bailing out. The question is whether or not the Dollar can take out 100 basis the USDX and whether the Euro can hold 1.050. That would break the back of gold. Full Story
As we approach a long term bottoming in the metals and miners complex, I have received many questions about how to best prepare for the impending transition back into a bull market. So, there are a few things I want to address. First, I am constantly asked which vehicles are advised for most who want to profit from the next bull market in metals and miners. My answer to that question has been and always will be physical metals and mining stocks. Full Story
On Thursday of last week, I arrived back in the States after spending two weeks globetrotting and attending international investing conferences, first in New Orleans, then in Lima, Peru. Most recently I was in Melbourne, Australia, for the International Mining and Resources Conference, one of the largest and most distinguished in the world, attended by not only top economists, geologists and CEOs of mining companies but also mining ministers from all corners of the globe. Full Story
Gold moved relentlessly lower again last week, ignoring normal Daily Cycle timing. The move has given life to my frequent warnings about the persistent, unyielding declines that bear markets often bring. Bear markets are notorious for elevating investors’ hopes through sharp moves higher that quickly give way to crushing declines. And as we’ve witnessed with Gold, the declines can be prolonged to the point that they wear down even the most ardent bulls. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 16 November, 2015
Last night in the aftermath of the terrorist attacks in Paris news organizations were speculating that the price of gold would rise today because of international tensions and turmoil. Longtime followers of GATA might have just laughed, knowing that gold would continue to perform counterintuitively on account of surreptitious crisis intervention by central banks. Full Story
When it comes to enduring enterprise and buoyant economies, in the end, future fortunes depend on solvency. This brings us to the problem with enterprise in our debt saturated western economies, because the pillars are largely insolvent, meaning corporations, and governments will never repay the debt they owe because its too much. Greece has been the visible exemplar of the larger problem in western media because authorities were able to impose increasingly draconian terms of repayment on a weak and weary periphery state, kicking the insolvency can down the road once again. Full Story
The amount of gold withdrawn from the vaults of the Shanghai Gold Exchange (SGE), which equals Chinese wholesale gold demand, accounted for 45 tonnes in the trading week that ended on 6 November. Year to date SGE withdrawals have reached an astonishing 2,210 tonnes, which is more than the previous yearly record set in 2013 at 2,197 tonnes. With nearly two months of trading left in the Chinese gold market, SGE withdrawals are estimated to reach more than 2,600 tonnes. Full Story
From first to worst. Gold and silver were the best assets to own during the first decade of this century. During this second decade... not so much. Precious metals bulls have endured 4 years of prices drifting lower punctuated by periodic smash-downs and the occasional false-breakout. What really gets the goat of gold and silver investors is that, throughout this time, there have been very good fundamental reasons to own metals. Somehow those fundamentals never show up in the price. The price action in recent years is enough to make bulls question reality. Full Story
James Turk of GoldMoney.com returns to the program with less than sanguine comments on the domestic economy. Half of 25 year olds in the US are living in their parent's homes, struggling to make ends meet. The statistic is emblematic of the erosion of the economic affluence of the middle class. The issue stems from lost purchasing power of the currency, resulting from profligate monetary expansion. Economist John Williams of Shadowstats.com returns to the show. The true underlying economic situation, hidden within the "official" economic data, is less than encouraging. The typically cool-headed and collected economic-sleuth is unnerved by Fed policies. His work indicates that the economy never recovered from that ominous period, resulting in the current stagnation. Full Story
Gold remained the strongest of the precious metals this past week, seemingly stuck in a narrow trading range for much of the week. Silver did a little worse, falling 3.52 percent, perhaps related to Bank of America warning that silver could hit $12 per ounce on weak industrial and investment demand. Full Story
The War on Cash is now accelerating. As the financial system lurches towards collapse, the elites and those who derive power from sitting at the top of the food chain are growing increasingly desperate to maintain the status quo. When 2008 hit, the Fed cut rates to zero and began implementing QE. It has now maintained ZIRP for six years (the single longest period in history) and has grown its balance sheet by over $3.5 trillion (larger than most countries). Full Story
I have written previously about the interest rate, which is falling under the planning of the Federal Reserve. The flip side of falling interest rates is the rising price of bonds. Bonds are in an endless, ferocious bull market. Why do I call it ferocious? Perhaps voracious is a better word, as it is gobbling up capital like the Cookie Monster jamming tollhouses into his maw. There are several mechanisms by which this occurs, let’s look at one here. Full Story
An already-confusing employment environment grew even more complicated this past week. Many readers responded to my “Crime in the Jobs Report” letter with their own stories. Some confirmed what I wrote, while others disputed it. Some of the stories I read from readers who are stuck far from where they want to be in this job market were very moving. I think everyone agrees the labor outlook is uncertain. I sense a lot of nervousness, even from those who have secure jobs that pay well. In today’s letter, I’m going to respond to some of the observations and data that came in this week on employment. Full Story
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