First of all, there's always some contingent of people that are looking for a safe haven or a hedge, and of course that ebbs and flows with market conditions and perception. However, long term investors realize that the financial situation on a global basis, the debt structure, is unsolvable. So, I think there's that and there's always people that are adding to that. There's people that invest too much or expect the market ... the gold market or the silver market to move at a certain place, and it doesn't. So again, it ebbs and flows. Full Story
By: Adam Hamilton, Zeal Intelligence - 24 February, 2017
Gold has powered higher in a strong new upleg since the Fed’s mid-December rate hike. But the core group of traders who usually fuel early-upleg gains has been missing in action in recent months. The gold-futures speculators have not done any meaningful buying since gold bottomed. This anomaly is a very-bullish omen for gold. Since these traders’ buying has yet to start, they need to do lots of catch-up buying. Full Story
If the economy was on its uppers, Trumpenomics could be reasonably compared with Reaganomics. But that is not the case. The economy is operating close to capacity, ....any further fiscal and monetary expansion will begin to create .... economic overheating. Full Story
The next leg up in a new daily cycle for the precious metals has begun. Silver is breaking away above its 200 dma with little resistance now until it reaches $19. Gold is approaching its 200 dma and once it breaks through that resistance is expected to top somewhere above $1300+. Full Story
Early in the precious metals bear market I used to talk about gold being “in the mirror” to the risk on party that was instigated by balls out monetary policy. How could it not be? The party has been all about debt, leverage and momentum. Gold carries no debt, is leveraged to nothing and really just sits there, with everything else in motion around it. That is what insurance does too. It is paid for and tucked away with a level of comfort, but in hopes that you won’t need it. Full Story
We sipped the QE juice and loved the taste. Now that we’re full… the game has changed. On August 1, 2007, just before the start of the financial crisis, the Fed had assets worth $858 billion on its books. Fast forward two years to the end of 2009, and the Fed had $2.24 trillion on its books. Full Story
Top money manager, John Ing recently presented to China his forecast for $2,200 an ounce. Our guest is bullish on gold, in the LT. Bob Hoye notes that during every previous post bubble contraction, the real price of gold has ascended, making the PMs a solid portfolio asset, today. Although the Greenback remains relatively strong, eventually the senior currency will be overcome by an inflationary economic maelstrom. Full Story
2017 is a unique year to invest. Commodities have turned higher for the first time in five years, and cutting-edge technologies are hunted for by mega-wealthy multinational corporations. Trump's administration is going to continue to make it easier for deals to materialize. Investing in the future by positioning now is the formula for investing in disruptive technologies in the medical arena, and companies that sincerely strive to improve lives will flourish. Full Story
Visualize the scene - a man in the open seas and struggling. His fate is inevitable and the only uncertainty is whether he dies by drowning or is taken out by the increasing number of sharks that are circling. In the scheme of things it is immaterial, nature will take its course. He spies a small swimmer moving confidently past and he declares "if I can stand on his shoulders I will be saved". That insanity, in a nutshell, is the position that the LME finds itself in, if Andy Home's article is accurate. Full Story
The narration of reflation and ‘Great Fiscal Rotation’ imply that the Fed will hike interest rates in a more aggressive way in a response to accelerated growth and higher inflation. We have already covered the Fed’s likely policy in 2017 in the previous edition of the Market Overview, but let’s discuss the impact of higher interest rates for the U.S. dollar and gold once again. It is widely believed that higher interest rates are bullish for greenback and bearish for the yellow metal. Is that really so? Full Story
Dr. Paul makes another great argument in support of the gold standard, sound money and how our money is directly tied to our lives. If you have the ability to move about, freely, conducting business anonymously then you are truly free. Until that happens we are nothing more than an ATM for the government and the corporate masters that own everything. Full Story
By: Rick Ackerman, Rick's Picks - 24 February, 2017
Genuinely meaningful economic data from mainstream news sources is as rare as a transparent pronouncement from the wizards and charlatans at the Fed. Friday will provide an exception, however, since very meaningful new-home-sales figures for January are slated for release. The consensus expects a strong rebound from December’s miserable 536,000 (annualized); a 7.5% increase to 576,000 is anticipated. This strikes me as just a tad optimistic, since home prices and mortgage rates have risen significantly in recent months. Full Story
By: Rory Hall and Dave Kranzler - 23 February, 2017
Lost in the smoke of Orwellian propaganda is the absurd notion that the two “rate hikes” were a mere quarter of a percentage point in magnitude. This can hardly be described as “raising interest rates.” It certainly is not even remotely close to the concept of “interest rate normalization,” whatever that is supposed to mean. In mid-2007, about a year before the financial system nearly collapsed, the Fed Funds rate was 5.25%. A little more than a year later it had been dropped to near zero. Full Story
Anytime the Dow makes a new high you can be reasonably assured of hearing the B-word bounced around in the media. Memories of the last bubble are still vivid and painful enough to trigger flashbacks of the bubble’s collapse. It’s only natural then that investors fear a return of irrational exuberance. Despite these fears, the evidence of a newly formed bubble is surprisingly lacking, as we’ll uncover here. Full Story
Thursday morning, Treasury Secretary Steven Mnuchin told CNBC that we could expect “significant” tax reform by August, including tax cuts for middle-income Americans and corporations. Like clockwork, the major stock indices rallied to all-time highs in intraday trading. As of yesterday, the Dow Jones Industrial Average has closed at record highs for the past nine days, and it wouldn’t surprise me if this gets stretched out to 10 days—or longer. Full Story
Get the popcorn ready. You're about to witness some amazing fireworks that could possibly change the course of history and send the lying, dying Mainstream Media into retreat, licking their wounds as they attempt to recover from the damage they are about to receive. Project Veritas, lead by James O'Keefe, and who is most notably known for "stings" on corrupt organizations, has set his targets on the Mainstream Media in 2017 and his first victim has just been announced : CNN. Full Story
Well, I think investing according to one’s ideology can be pretty dangerous. You know, I remember Bob Murphy told me one time that his thought was that—and I’m sure a lot of your viewers are familiar with Robert Murphy, the economist at Texas Tech. He said understanding economics is necessary to be a good investor, but it’s not sufficient. Full Story
Lately, the Cartel has been throwing everything – including the kitchen sink – at Precious Metals; in silver’s case, vigorously defending its latest “line in the sand,” at the 200 DMA of $17.96/oz; and in gold’s, at its 200 day and 200 MONTH moving averages, both of which are roughly $1,266/oz. And despite, as I mocked yesterday, the dollar index “rising” this week – due to heightened fear of a Eurozone breakup – they’ve been having an immense amount of trouble holding them down. Full Story
Northern Vertex Mining Corp is actively engaged in the development of its flagship Moss Mine Gold-Silver project located in the historic Oatman Mining district in NW Arizona. Over the past six years the company has worked diligently to establish a substantial gold-silver resource and is now focused on advancing the project to mine construction and future gold-silver production. Full Story
An incredible amount of fraudulent, virtual silver is being created in order to cap price and paint the chart. Will JPM and the rest of The Evil Empire be successful once again in capping price and routing the Specs. The reaction to today's FOMC minutes may help to determine the outcome. Again, I can't stress enough the devious and fraudulent nature of this latest attempt to contain and cap price. The past four days have seen the price of Comex Digital Silver pressing up against the key resistance of $18 and the 200-day moving average near $17.93. Full Story
You know, Rick, you’re noted for a number of famous quotes and there were two in particular that are germane for today’s discussion, which are “to separate the wheat from the chaff” and “to have courage and conviction.” Listeners will note that I’ve stated before I’ve made the error of understanding the macro-picture of why I need to invest in the sector and I used a buckshot approach in selecting companies in that sector. But as we will discuss today, it’s not the name, not the sector or the commodity, it’s the people. Rick, can you expand on the narrative on my remarks? Full Story
Andy Shectman of Miles Franklin Institute ($6 billion sales) outlines why every investor should diversify their PMs holdings via an offshore account. In 1933, President Roosevelt announced an executive order designed to confiscate gold that included at $10,000 fine. The gold / silver ETFs are a modern equivalent to the executive order, indirectly confiscating the capital that would otherwise be directed to physical PMs. Full Story
Notwithstanding the strong demand for gold and silver globally, buying activity in the U.S. retail market for physical bullion has fallen noticeably in the wake of Donald Trump’s election victory. And retail selling in the U.S. has increased. The bullion markets have entered a new phase. The two terms of President Obama included the aftermath of the 2008 financial crisis, zero interest rate policy from the Federal Reserve, and multiple rounds of Quantitative Easing. Reasons to buy gold and silver were plentiful. Today, the reasons to diversify into gold and silver are as strong as ever, but they're perhaps less obvious to the average retail buyer in the U.S. Full Story
Equities sell for all-time highs and at historically high valuations by many measures. Bonds have probably entered a bear market, like the 1970s. Equities trade in the zone where we should expect a correction or crash even though central banks are blowing bubbles and levitating markets via direct purchases and ever increasing debt. Full Story
By: Steve Saville, The Speculative Investor - 22 February, 2017
What about the reported inventory levels for commodities such as oil and the base metals? Is this information useful? In general, no, because a lot of aboveground supply is not held in the storage facilities that are covered by such reports. There will be times when a relative shortage or abundance of physical supply is correctly signaled by the widely-reported inventory levels, but in such cases the evidence of shortage or abundance will also appear in the “term structure”. And the “term structure” will be more reliable, meaning that it will generate fewer false signals. Full Story
And, once the DXY is able to break down below 100, it significantly increases the probability that we have entered a multi-year correction no matter how many rate increases we see. But, please do take note of the alternative count I have on the DXY, which can still keep it elevated for the next several weeks, before we break down in a bigger way. But, the greater probabilities are starting to lean towards the potential that a multi-year high has been struck. Full Story
Is 2017 even real? What kind of weird, fantastical twilight zone have we entered into? The world has been turned upside down and I will continue to point out the bizarre and unusual things that continue to be said and acted upon as we go forward. If past results are any future indication, then things are going to get a whole lot weirder. Full Story
Inflation just got another jolt, rising as much as 2.5 percent year-over-year in January, the highest such rate since March 2012. Led by higher gasoline, rent and health care costs, consumer prices have now advanced for the sixth straight month. In addition, January is the second straight month for rates to be above the Federal Reserve’s target of 2 percent. Full Story
By: Rick Ackerman, Rick's Picks - 22 February, 2017
If the stock market’s wilding spree continues for just a few more days at its recent pitch, the rally is going to start looking like a blowoff on the daily and intraday charts. Rick’s Picks subscribers know something the bullish herd most likely does not, however, and that’s why we are able to watch the mania unfold without getting caught up in its mounting recklessness. Also, because we’ve held a very precise rally target in mind for quite some time, we’ve been able to stay comfortably on the right side of the Furies since late autumn. Full Story
“Yellen Can’t Halt Trump Gold Rally That Funds Bet Against” – That was the headline in a Bloomberg news report that was released on Sunday afternoon. There’s a lot going on in that headline – none of it accurate except for the fact that gold is moving higher despite the efforts of western Central Banks to cap the price. Full Story
So, based upon much research, it does seem that the market may be considered to be on a path that is determined by a mass form of herding that is given direction by social mood. It sure does explain the oft asked question of why markets go up when bad news is announced or vice versa. It also takes out all the guess work in attempting to determine the next "news event" that may move markets. And, it also explains why anyone following fundamentals is still scratching their head as the market continues to rally far beyond their expectations, while they continue to claim "the market is wrong." Full Story
The best performing precious metal for the week was silver, up 0.31 percent, just edging out the gains in gold. Bloomberg reports that China’s holdings of U.S. Treasuries have dropped by the most on record last year. The second-largest economy has been seeking to rely less on U.S. currency. Japan, which is the largest holder of Treasuries, also sold nearly $202 billion in Treasuries last year. Full Story
The upcoming March 15 debt ceiling and rate hike fireworks show is just one of many reasons to own gold, silver, and high quality gold stocks for both the short and long term. Please click here now. Double-click to enlarge this silver chart. Silver price enthusiasts who want to be on board for a big upside ride as corporations pass on wage inflation to consumers should be eager buyers in the $17.25 area! Full Story
The triumph of Donald Trump as the champion of a revolution against the status quo assures huge economic changes in the coming year, which I’ll list below. His victory struck a shocking upset to the globalists who have steered the last sixty or more years of world history, as I reported in an earlier story about George Soros mourning over the damage Trump will bring to global governance by unelected elitists. Full Story
Every few years, it seems, one or another mismanaged eurozone country falls into one or another kind of crisis. This leads to speculation about the end of the common currency, which in turn spooks the global financial markets. Then the ECB conjures another trillion euros out of thin air, buys up and/or guarantees all the offending country’s bonds, and calm returns for a while. Full Story
Before we look at some of the 2009 bull market uptrend channels there are a couple of more big consolidation patterns I would like to show you on some of the stock market indexes. The $DAX, German stock market, broke out of its 13 year triangle consolidation pattern back in 2012. Late last year it broke out of the blue bull flag with a nice clean backtest to the top rail. The big triangle consolidation pattern also had a smaller triangle as part of its internal structure. Full Story
Bullion banks are some of the most influential participants in the global gold market. But who are these players and what do they actually do? And most importantly, how can these bullion banks trade thousands of times more gold each year than is actually in existence? This infographic lifts the lid on bullion banking, looking at the world of fractional-reserve paper gold trading built on the unallocated gold account system. Full Story
By: Rory Hall and Dave Kranzler - 21 February, 2017
We can only speculate the reasons why Greenspan has gone full circle back to his views expressed in his 1966 seminal essay about gold and is “coming clean” about economic systems based on fiat currencies rather than a gold standard. But the fact that the former fiat money “Maestro” is now advocating the gold standard reinforces its validity. Full Story
The annual silver production estimates for 2016 were published by the United States Geological Survey (USGS) recently and I have gone over the figures country by country in my latest newsletter. The upshot was that the USGS estimated another record year for global silver production in 2015, but this turned into an epic fail as global silver was down on 2014 by 5%. Full Story
This week, the prices of the metals mostly moved sideways. There was a rise on Thursday but it corrected back to basically unchanged on Friday. This will again be a brief Report, as yesterday was a holiday in the US. Below, we will show the only true picture of the gold and silver supply and demand fundamentals. But first, the price and ratio charts. Full Story
I have been thinking about Dad all week. This past Wednesday was the 5th anniversary of his death at age 87. He lived quite a life and worked right up until the end. He was the youngest of 10 children and was born in 1924. While all of his older siblings remembered the good times before the depression most of his memories were after the crash. They lived in a small town until he was 10 years old in 1934 and his father lost his school bus contract. Full Story
The stock market is too high. The fundamentals don’t support these heights. This rally is completely “fake” because it has been “manipulated.” The market is in “nosebleed” territory. We are in a blow-off rally. The market is about to crash. Yes, we have heard it all for months now. Maybe even for years. And, such perspectives have caused many to miss one of the best rallies we have seen in years, as they expect the market to top “any day now.” Full Story
The main lesson from Oroville -- or Fukushima, or Katrina -- is that governments do a poor job of relating accurate information to their citizens when big threats are involved. Part of that is likely due to a desire to avoid stoking fear. Part probably due to politics and bureaucracy. And part probably due to plain old incompetence. Regardless of the cause, it means that the public -- even the vigilant ones -- suffer information deficits when it matters most. Simply put, the authorities do not share all the facts necessary for making informed decisions. Full Story
By: Jordan Roy-Byrne, CMT, MFTA - 21 February, 2017
The January headline consumer price index (CPI) came in at 2.5%, which is near a 5-year high. What happened to deflation? As a result, real interest rates declined deeper into negative territory or in the case of the 10-year yield, went from positive to negative. No this isn’t a commodity-driven story. The core CPI (ex food and energy) has been above 2% since the end of 2015 when commodities were in the dumps. Inflation is perking up and couple that with a Fed that pursues rate hikes at a glacial speed and that is very bullish for precious metals. Full Story
Making his debut show appearance, Bix Weir of RoadtoRoot-A discusses his silver market research efforts. Due to financial derivatives and sophisticated algorithms, the Fed / Treasury control the PMs markets. Similar to the tragic water reservoir failure currently unfolding in California, Rob Kirby of Kirby Analytics identifies extreme risks to the financial markets. Even the mainstream press is starting to acknowledge the risks posed by market manipulation schemes, in particular, in the PMs sector. Full Story
Today we come to part 3 of my tax reform series. So far, we’ve introduced the challenge and begun to describe the main proposed GOP solution. Today we’ll look at the new and widely misunderstood “border adjustment” idea and talk about both its good and bad points. What follows may make more sense if you have first read part 1 and part 2. Next week we’ll explore what I think would be a far superior option, though one that is based on the spirit of the current proposal. Full Story
Okay, we try not to pay attention to US President Donald Trump, but as we have stated before he has a tendency to suck up all the air in the room. As has been the case since his inauguration on January 20, 2017, confusion and chaos continue to reign. If there was anything normal in the week it was the visit of Canadian Prime Minister Justin Trudeau, that some termed as boring. Full Story
Mining stocks have broken their daily cycle trend line and are likely to retest their 200 day moving average over the next week or so. This would potentially allow the daily RSI(5) to push down to an oversold reading near/below 30, give the rising 50 day moving average more time to catch up to price, and trigger the stops of traders who bought the breakout above the 200 day moving average within the past month. This is a normal corrective move that is unlikely to last much more than a week. Full Story
The reason we are looking at this today is because of how the Trump Bump is causing input prices to jump higher already, evidenced in the most recent (December) US ISM numbers, showing the biggest jump since 2011. And this trend will most likely continue with the excitement Trump has created with ‘making America great again’, where even foreign governments are joining the party, which will continue to strengthen employment conditions (already apparent), raising the specter of rapidly rising cost-push inflation. So its understandable precious metals are stirring again, where it appears like inflation, pressure is building for increasing prices. Full Story
By: David Morgan, The Morgan Report - 20 February, 2017
People just do not buy bottoms. It is very rare for a person to not only realize, but also take action during a bottoming process. Unpopular things are just that—unpopular! Silver is not very popular these days, although it certainly has many more followers than during the early Internet days when Ted Butler, Charles Savoie, and yours truly were about the only ones devoting our public missives to the silver story. Since those early days, many writers have and come and gone, though some relatively well-known ones are still around. During the next few years, as silver's resurgent bull run takes off once again, many others will step forward seeking the limelight. Full Story
This is an especially spectacular failure in light of Greenspan's admission of that involvement in his testimony to Congress in July 1998, wherein he acknowledged that central banks are prepared to lease gold in "increasing quantities" to suppress its price.. Full Story
“The eurozone isn’t working …” warns Greenspan “I view gold as the primary global currency” said Greenspan “Significant increases in inflation will ultimately increase the price of gold” “Investment in gold now is insurance…” Full Story
It’s long weekend time with markets closed Monday and the trend higher nicely intact. The metals are looking better and better and moving higher very well. That said, mining stocks are a bit mixed but may well give us some strong moves early in 2017, as they did in the first half of 2016. Time will tell but miners and stocks in just about every sector are doing fine and set to continue so stay with the trend. Full Story
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