By: Chris Waltzek, GoldSeek Radio - 22 February, 2019
- Mr. Pento graciously outlines his current portfolio-strategy in detail for the listening audience. - One of the few economic pundits to correctly anticipate the market plunge of 2018 on record. - Gold and utilities remain favorite long positions, while he is comfortable with a short position in long-term Treasuries. - Mr. Pento crushes the opposition on the trade war debate. - The Administration's tax increases on imports have actually boosted domestic GDP, contrary to popular consensus. - Only if the proposed 15% increase in new tariffs on China remains in full effect for a year will GDP suffer. - Meanwhile, global central banks printed roughly $15 trillion in debt IOUs while plunging real interest rates negative for the first time in recorded history, just to salvage the financial markets from the Great Recession. Full Story
The Shareholders' Gold Council, started last year by fund manager John Paulson "to conduct research reports and studies of interest to investors in the gold industry" (https://www.goldcouncil.net/), has rejected GATA's requests for membership and to make a presentation about manipulation of the gold market by central banks and their bullion bank agents.
A representative of the council has told GATA that "our focus is on the companies themselves, not the gold market." Full Story
Over the past few months, we've written frequently about palladium and the threat it poses to The Banks' Fractional Reserve and Digital Derivative Pricing Scheme. As palladium prices are continuing to rise, we thought it best to explain this dynamic again today.
A few years back, my friend Max Keiser coined the phrase "buy silver, crash JP Morgan". Back then it was hoped that silver could be a "magic bullet", where physical demand would expose and crash the current fraudulent pricing scheme. And it nearly worked, too, as a massive Commercial short squeeze in 2011 nearly led to a runaway price spike. Only through the direct, official intervention of the CFTC and CME was price reversed and the crisis averted. Full Story
Jim Willie interviews Mark O’Byrne of GoldCore about the slowly erupting Global Financial Crisis II and the importance of being financially prepared but also “psychologically prepared”
– “Not a single thing has been fixed” and vitally important people prepare now for the “next phase” of the currency wars and the global financial crisis which is set to impact financial markets, stocks, bonds, banks (what happened to Wells Fargo last week?) and bankrupt governments in the UK, EU and US Full Story
Unless the South African government changes course from its socialist path and restores investor confidence, the mining industry there will likely continue its decline.
Elsewhere in the world, the mining industry is struggling to find and develop economical new reserves. Global gold production could actually go into decline on a worldwide basis this year.
In other words, we may have seen peak gold – a peak in the total number of ounces pulled out of the ground by miners over the course of a year. At least for the foreseeable future, it appears the mining industry lacks the capacity to ramp up production in order to meet rising global demand. Full Story
By: Gary Christenson, The Deviant Investor - 20 February, 2019
- The bond market and housing market have turned downward. - U.S. and global stock markets rolled over in 2018. - A debt/credit crisis could arrive soon. There is little (as in no) political will to reduce spending, deficits, and debt. - Some currencies have already collapsed. Others may follow. Fiat currencies are vulnerable. Full Story
To meet surging demand, four U.S. copper projects are set to open by next year, the first to do so in decades, according to Reuters. And Ivanhoe Mines, founded by my friend Robert Friedland, is in the process of developing the Kamoa-Kakula copper deposit in the Democratic Republic of Congo, which Robert describes as the second-largest copper mine in the world.
“You’re going to need a telescope to see copper prices in 2021,” Robert told us when he visited our office last year. Full Story
While the interest rate pause is getting the most attention - the balance sheet pause could be the most important one for investors over the coming years.
As explored herein, the impact of pausing the unwinding the balance sheet is to create a new floor at about $4 trillion in Federal Reserve assets. And if the business cycle has not been repealed and there is another recession - the Fed fully intends to go back to quantitative easing, potentially creating more trillions of dollars to be used for market interventions, and to stack another round of balance sheet expansion right on top of the previous round.
Well, guess what, with cash spending from tax repatriation starting to fade into the rearview mirror and with interest rates rising due to the Fed’s balance-sheet unwind (monetary tightening) and the US government issuing a growing supply of bonds to fund its endless deficits, buybacks will be diminishing until the Fed goes back to quantitative easing and to sopping up (monetizing) the government debt.
The bears were right on the money for all of 2018, and the economic climate will remain perfect for polar bears for as long as the Fed remains on its tightening program. By the time the Fed completely figures out a few months from now that it cannot remain on its tightening program, the economy will have receded over the edge of an arctic basin. Full Story
- Modern Monetary Madness - Pet Economists - Can This Really Be a Thing? - Sound Bite Economics - Do Deficits Matter? - Strategic Investment and Life Planning - Dallas, Houston, Cleveland a lot, New York, back to Puerto Rico, Austin, and Dallas Full Story
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