It is my privilege now to welcome in Craig Hemke of the TF Metals Report. Craig runs one of the most highly respected and well-known websites in the entire industry and has been covering the precious metals for a decade now, and he puts out some of the best analysis on banking schemes, the flaws of Keynesian economics, and evidence of manipulation in the gold and silver markets. Full Story
Until the arrest of Huawei’s CFO in Canada at the request of the U.S., I was becoming more neutral to bullish on Gold. The G20 meeting was a complete waste of time in that nothing really changed. There was no agreement on the substantive issues, and certainly not in writing. Full Story
In recent days we’ve seen the beginnings of an inversion in the yield curve. The 2-year yield and the 5-year yield have inverted but not yet the the 2-year yield and the 10-year yield, the curve that is watched most. However, “2s and 10s” as bond traders would say appear headed for an inversion very soon. Full Story
The recent stock-market selloff is persisting, fueling mounting worries among investors. The intensifying volatility and lack of a quick rebound higher is strangling euphoric sentiment, spawning self-reinforcing selling pressure. Scoffed at a few months ago, the notions that a young bear market is underway and a recession looms are gaining traction. The great beneficiary of this ominous stock-market downturn will be gold. Full Story
I think in 2020-2021 the word “unbounding” the balance sheet will be a hot topic. As interest rates rise, the cost to borrow will increase for all companies. Unbounding is taking liabilities such as reward loyalty points off the balance sheet so borrowing money costs less. This is such a novel business plan which gets me very excited. It’s very early days, but I think Einstein has all the variables to be a real winner, not just for shareholders but for users. Full Story
This article goes on … and on … with graphic details of various acts of mob violence. There’s really no need to read the whole thing unless your tastes run to torture porn. The excerpt presented above illustrates the point well enough, which is that the stresses of daily life in an increasingly-crowded and indebted society can push normal people to the breaking point. Full Story
Trade wars and lax fiscal policy are negative for the US dollar and positive for gold. Myth or fact? We invite you to read our today’s article about the effects of Trump’s actions on the greenback and find out whether weak dollar will save gold. Full Story
The Dow Industrials reversed 700 points yesterday, turning a morning disaster into an afternoon wilding spree that has the potential to end the week on a bullish note. The rally was purely technical, beginning as it did a millimeter beneath an important low recorded on November 23 that had served as a ‘structural’ support. As is the case so much of the time, the downtrend had to penetrate the support, stopping out bulls, in order to ensure that the subsequent rally was light, frisky and unburdened by profit-takers. Full Story
This week, a white metal reached a rare feat. Palladium has traded at a higher cost per ounce than gold. Last month, the palladium market pushed through all remaining technical barriers by posting a new all-time high. A chronic supply deficit now threatens to launch palladium prices into a super spike. Full Story
If the “risk on/risk off” stock market meme was absurd, its derivative – the “trade war on/trade war off” meme – is idiotic. Over the last several weeks, the stock market has gyrated around media sound bytes, typically dropped by Trump, Larry Kudlow or China, which are suggestive of the degree to which Trump and China are willing to negotiate a trade war settlement. Full Story
Has Powell just admitted that the most important central bank in the world is basically straying in the dark? That it is like a lost kid in a fog, rambling idly without a fixed direction or aim? Last year, Yellen described low US inflation as mystery. Now, Powell moved further and confessed that he knew nothing. It’s a bit disturbing, but maybe the Fed Chair is just a disciple of Socrates who understands that attaining wisdom is to admit own ignorance. Yeah, maybe. Full Story
The price of palladium just exceeded the price of gold for the first time in 16 years. That’s an epic even. But what does it really mean? And why should gold, silver, and mining stock investors care about the small palladium market? Full Story
In Part II. with Bob Hoye of Institutional Advisors, the narrative includes cryptocurrencies. The high level of misinformation surrounding the de facto currency of the future requires closer examination. The debate between Bitcoin aficionados and naysayers is put under the microscope. Full Story
The big question on the minds of most investors is what will happen to the markets and precious metals in 2019. Well, the answer depends mainly on two factors, the oil price and overall weakness in the economy. If the oil price continues to decline, it will indicate a deflationary outcome for the economy and markets. Full Story
Recently, one of my members was in attendance at the 32nd Economic Outlook Symposium hosted by the Federal Reserve Bank of Chicago. On the first day, he sat in a room with 150 economists. When asked how many see a recession in 2019, all of two hands went up. So, let me ask you a question: When was the last time the majority of economists correctly called for a recession? (I think we all know the answer to this one). Full Story
Harry S. Dent Jr., the Author of Zero Hour and Editor of Economy and Markets newsletter - link to FREE newsletter, rejoins the show. Gold, silver and related shares appear to be building a solid base for an advance as well as cryptos where Bitcoin could ascend to $25,000. The Blockchain concept will thrive as the backbone of the new Internet 2.0, with profound utopian-like implications for virtually every aspect of life. Full Story
The Great Recession, coupled with the “Ron Paul Revolution,” prompted a renaissance of the sound money movement in the United States. As Germany, Russia, and China -- to name a few -- continue to increase their gold holdings, the hegemonic power of Federal Reserve Notes (referred to today as the dollar) is slowly slipping away. Full Story
The U.S. government pays the interest by issuing new debt. But that new debt increases total debt and (eventually) drives up interest rates, which requires more borrowing to pay the annual interest payments. Another year older and deeper in debt! A reset will occur when the debt load becomes too heavy. Full Story
“The Harbinger of Doom”? Of course we (well, the media) are talking about the yield curve AKA Amigo #3 of our 3 happy-go-lucky riders of the macro. I have annoyed you repeatedly with this imagery in order to show that three important macro factors needed to finish riding before situation turns decidedly negative. Full Story
Taylor went on to present a chart of morning and afternoon gold price fixes from the London Bullion Market Association showing that the gold price has nearly always been knocked down during London trading, so much so that buying on the afternoon fix and selling on the morning fix long has been spectacularly profitable, while doing the opposite long has been spectacularly unprofitable. Full Story
One of the most reliable indicators of an economic slowdown just flashed a warning sign this week. On Monday, the yield curve between the five-year Treasury yield and three-year Treasury yield inverted, or turned negative, for the first time since 2007. What this means is the shorter-maturity bond now pays more than the longer-maturity bond, suggesting investors believe the government is less likely to service the debt it owes in three years than in five years. Such an inversion has historically portended a recession sometime in the next six to 24 months. Full Story
Copper is often referred to as "Dr. Copper" for its ability to foreshadow moves in other markets and the global economy in general. Today we coin the term "Mr. Palladium", as this particular metal may be offering its own bit of foreshadowing. And what might that be? Perhaps the end of the entire LBMA/COMEX Digital Derivative and Fractional Reserve Pricing Scheme. Full Story
We’ll be trusting Santa rallies a tad less as a result of Tuesday’s take-no-prisoners selloff. Mainly, it’ll be a matter of keeping the word “DISTRIBUTION!!!” well in mind every time shares take even a few mincing steps higher. That goes for AAPL as well, my one-size-fits-all bellwether. The stock had switched on the charm Monday, all but shouting “Buy me!” from the rooftop as the session ended. Full Story
If only 1% of investor holdings in Treasury securities were to flow into physical precious metals for protection against dollar debasement, demand would overwhelm supply and push gold and silver spot prices much higher. It may not happen overnight. But as investor affinity for holding dollar-denominated government IOUs wanes, it should happen over time. Full Story
The double bottom is the world’s most stressful chart pattern. It forms after a significant price decline. The first low in the pattern creates substantial panic and fear in most investors. The second low in the pattern is “softer”, but no less dangerous to emotionally vulnerable investors. The volume is generally weak and the price action makes investors feel like they are in some kind of financial gulag. Full Story
Judging from the price, I figure that the purchase was made sometime in 1972, when the price of a Troy ounce of gold was $46 dollars. The Mexican $50 gold peso coin contains 37.5 grams of pure gold, and 37.5/31.1 grams per Troy ounce, is 1.206: so there is 1.206 times more gold in a Mexican $50 gold peso piece, that in a Troy ounce of gold. Full Story
Gold continues to make headway in herky-jerky fashion, failing to satisfy bulls but also denying bears something to cheer about. On Monday, the February Comex contract rallied to within a millimeter of the 1240.20 Hidden Pivot target shown. The pullback so far has been mild, encouraging the thought that the next pop will be good for a ride to 1259.80. Full Story
President Trump and President Xi Jinping agreed to halt escalation in their trade conflict. At the same time, the Fed officials became more cautious about the pace of future interest rate hikes. How will the softening of the US trade and monetary policies affect the gold market? Full Story
I wonder how many of you had your brains in gear when following the action in the market this past week. For those that did not, let’s review what happened. First, the market broke out “bigly” on Wednesday, and every media source and investor was absolutely certain that it was due to the Fed chairman’s speech (even though he really said nothing new, as future rate decisions were always going to be data driven). Full Story
Yesterday evening marked the beginning of Hanukkah. The Jewish festival of lights commemorates the reclamation of the Holy Temple in Jerusalem from the Syrian-Greeks in the second century BCE. According to accounts, after Judah and his forces liberated the temple, he found only one jar of oil, good for a single day’s lighting at the most. Miraculously, though, the oil lasted for an incredible eight days, which is why Hanukkah is celebrated for eight days and nights to this day. To all of my Jewish friends around the world, I wish you a Hanukkah Sameach! Full Story
The rapidly falling oil prices have finally claimed the first victim, but it won’t be the last. The Alberta Canadian government announced late yesterday for a substantial cut in tar sands oil production to stem the hemorrhaging low oil price. The price paid for tar sands oil has fallen a stunning 77% from its peak just two months ago. Full Story
Gold has always served as a store of wealth for civilized man. Because it is rare and valuable and does not corrode or oxidize, about 98% of all the yellow metal that has been mined throughout history is still available; i.e., it is nearly 100% recycled. Gold hoarded in jewelry and bullion constitute about 85% of the cumulative world supply. Full Story
JPMorgan Chase and a number of other bullion banks are in a whole lot of trouble. Evidence detailing years of rigging markets and swindling clients is piling up. Deutsche Bank pleaded guilty two years ago and forked over hundreds of thousands of documents. John Edmonds, a former JPMorgan trader, entered his own guilty plea last month and turned state’s evidence. Full Story
For now it looks like the Dow is going to do another “turtle head” above its 50 dma (see the chart above) like the one in early November. The Dow was up as much as 442 points right after the open today, as amateur traders pumped up on the adrenaline of false hopes couldn’t buy stocks fast enough. As I write this, the Dow is up just 140 points. I suspect the smart money will once again come in the last hour and unload more shares onto poor day-traders doing their best impression of Oliver Twist groveling for porridge. Full Story
Peter Schiff, head of SchiffGold, Euro Pacific Capital, and Euro Pacific Gold Fund (EPGFX) joins the show from his vacation office in tropical Crypto-Rico, where air conditioning service, not heating is the chief concern today. Key takeaway - gold is building a base that will likely culminate in new record prices, from $2,000 - $5,000 and under extreme conditions, $10,000+. In Part I. of this discussion with Bob Hoye of Institutional Advisors includes a startling sea change in attitude towards the PMs sector. After years of bearishness, Bob Hoye announced the potential for an epic GOLD RUSH on the horizon in the PMs sector, in particular, the mining shares. Full Story
The best performing metal this week was palladium, up 5.38 percent as hedge funds boosted their net long positon to a nine-month high. Gold traders and analysts are bullish for the third week in a row, according to the weekly Bloomberg survey. Mark O’Byrne, research director at GoldCore, said “the set up for gold is getting better and better and it looks set for a strong 2019.” Full Story
It is like night follows day, and like the four seasons spring, summer, fall and winter follow each other. It doesn’t matter where you start; the order stays the same. The economy and the markets also follow an order. For the economy, the order is prosperity phase, recession phase, contraction phase, and recovery phase; or, if you wish, boom, slow down, bust, and recovery. Full Story
If you are good perhaps these investments can boost your overall portfolio significantly. This will allow you to scratch that certain itch so you can do something while you sit back and wait for time to do its job with the bulk of your investments. If you are feeling lazy or do not see anything interesting then just leave your speculative funds sitting in the cash allocation and wait for a nice slow fat pitch to come along. Full Story
In an increasingly divided world, we all share one great desire: self-preservation. Not just humans, either. The survival instinct exists in almost every living thing. Humans simply have greater ability to do something about it. Full Story
There are different ways that the quantity of money can expand. It depends on what kind of monetary system you have. For example, the miners increase the quantity of gold. In free banking, the banks increase the quantity of gold-redeemable notes. In our irredeemable monetary system, the Fed increases the quantity of dollars. Full Story
Amid a weakening global economy, gathering signs of weakening in the US economy and a dump in inflation expectations, Jerome Powell implied that the Fed may be going on hold for a while after a December rate hike. This graph from SG Cross Asset Research/Equity Quant by way of Kevin Muir’s article attempts to show that the accumulated rate hike tightening and “shadow” tightening as a result of QE suspension has now met or exceeded the levels that preceded the last two economic recessions. Full Story
For those literary enthusiasts amongst us, you would recognize the title as the line supposedly penned by Mark Twain when it was inquired of him while in London regarding a published obituary written in the United States. However, more accurately, his response to the reporter’s inquiry was “The report of my death was an exaggeration.” But, I digress. Full Story
Back in 2017, when some countries were handing power to populists promising variations of “drain the swamp,” France went for continuity with Emmanuel Macron, a young, moderate-sounding technocrat from the world of finance who promised to modernize the country without threatening the elites, the welfare state or the bureaucracy. Full Story
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