On the face of it this seems an odd coincidence. But if the gold swaps were undertaken with the intent of trying to suppress the price of gold, then perhaps this is not a coincidence. Perhaps the BIS' counterparty to the swap was willing to undertake it if it was not only entitled to the return of its gold swapped with the BIS but also protected from a fall in the price of gold for the duration of the swaps.
In itself this unusual transaction does not prove gold price suppression but it would be wholly consistent with price suppression being the real reason for the swap.
The BIS when approached by GATA continues to refuse to explain its activity in the gold market.. Full Story
Beijing currently has a stranglehold on over 80% of the global market for rare earth metals. The Chinese have previously leveraged their near total control to win concessions in geopolitical clashes. In 2010, China briefly blocked exports to Japan over a territorial dispute.
Trade wars can quickly escalate into resource wars. With U.S. domestic oil production continuing to rise, America is relatively secure on the energy front – at least for now. But when it comes to rare earth metals and precious metals, the country remains heavily reliant on output from hostile and unstable countries including China, Russia, and South Africa.
South Africa is a major supplier of gold and the world’s leading producer of both platinum and palladium. But in recent months, mining output there has been declining. Full Story
Fighting gold price suppression by central banks and their market rigging generally would be a lot easier with the help of some of those people who have great resources and purport to be gold advocates themselves but who knowingly or unknowingly assist the other side.
One of those people is billionaire Ray Dalio, founder of investment fund Bridgewater Associates.. Full Story
In an earlier post, I gave you a sneak preview of my interview with Chris Powell, secretary/treasurer at Gold Anti-Trust Action Committee (GATA). For 20 years now, Chris and others at GATA have made it their mission to expose collusion by international financial institutions to control the price and supply of gold.
Below are highlights from my interview with Chris. I have to say that during much of our conversation, my jaw was on the floor. I don’t want to say much more than that! Read on, and remember to share widely. Full Story
What this means is that the Fed will not only stop talking about raising rates, but you will start hearing discussions about them lowering rates. You see, the Fed follows the market. And, right now, the market is signaling that rates still have lower to go. So, the Fed will have to follow suit.
So, my current prediction is that the Fed is caught between a rock and hard place, and they are behind the curve. Rates will likely still drop in 2019, and the Fed will have to follow the market, and lower rates before the year is out. Full Story
Ladies and gentlemen, it’s a blemish on the age that so many of us know the name of the Federal Reserve chairman. In a better world, that government functionary would be as obscure as what’s-his-name, the home plate umpire who got no arguments calling balls and strikes at Yankee Stadium the other night. Who elected the Greenspans, Bernankes, and Powells to be the arbiters of interest rates, asset prices, the rate of inflation and who knows what else? It wasn’t Alexander Hamilton. Nor was it the Fed’s own founders. If the authors of the 1913 Federal Reserve Act could return to earth to inspect their handiwork, the shock might kill them all over again. Full Story
In our last update, we stated that Bitcoin was providing us the minimum price patterns to suggest that a bull market was under way. Moreover, we were looking for a standard corrective pullback to solidify the bull market case.
But when the price action is too strong, it can flash warnings signals. This is clearly what we have seen over the last week or two.. Full Story
The graph here shows the point at which I said early last summer housing sales had turned over (for the worst) and would remain on a downtrend indefinitely, and it shows how that prediction has panned out.
Existing home sales were down again nationally (4.4%) in April (fourteenth month in a row of declining sales year on year). That is the longest stretch without a single positive month since the housing-market collapse that brought on the Great Recession. Full Story
In summary, what's plain is that governments, Central Banks and their client, primary dealer Banks have a long and sordid history of overt and covert gold price manipulation and suppression. An intellectually honest person can readily discover the truth of this historical fact. Any Money Manager, Newsletter Generalist, or System Apologist that persists in claiming "conspiracy theory" simply betrays his or her own intellectual laziness and dishonesty. Full Story
Question: If debt-based fiat currencies are so bad, why do we use them?
Answer: We use them because they are convenient and dishonest. Why? Dishonest currency units enable bankers and politicians to manipulate and counterfeit them for their benefit. This is less true with gold backed currency units. Full Story
With his column today, U.S. Global Investors CEO Frank Holmes does a spectacular job interviewing your secretary/treasurer about GATA's work to expose central banking's policy of gold price suppression.
The interview is more spectacular for being produced by a much-respected organization within the gold sector, much of which long has shunned GATA for our alerting monetary metals investors to what they're up against.
As fund manager and author Jim Rickards said on CNBC a decade ago, "When you own gold you're fighting every central bank in the world." Full Story
We have deviated, these past several weeks, from matters monetary. We have written a lot about a nonmonetary driver of higher prices—mandatory useless ingredients. The government forces businesses to put ingredients into their products that consumers don’t know about, and don’t want. These useless ingredients, such as ADA-compliant bathrooms and supply chain tracking, add a lot to the price of every good. Of course higher prices are reflected in the Consumer Price Index. And people say it is inflation.
We have also discussed a nonmonetary driver of lower prices. Every productive business is constantly working to remove useless ingredients too. They are not allowed to remove government-mandated useless ingredients, but all other ingredients are open season. In the research for his Forbes article on falling wages, Keith discovered that dairy producers found ways to eliminate 90% of the ingredients that go into producing milk between 1965 and 2012. For example, they reduced by two thirds the labor hours that support each cow. Full Story
The Chinese came from nothing; only 40 years ago, they had nothing but a billion impoverished peasants. No money. No technology. No power. Today, they’re on par with the United States. But, if this trend continues – which it will – their economy will be triple the size of the US economy in 20 years.
Not just a trade war, but a shooting war with the Chinese seems inevitable. Because when tensions build up between states they eventually fight with each other. Full Story
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