Gold futures were going bonkers in the fall of 2013 and early 2014. On a weekly and sometimes daily basis, unbelievably massive gold contracts were coming on the market at non-peak trading hours, only to be withdrawn almost instantaneously. In one particularly alarming instance in January 2014, the yellow metal plummeted $30, from $1,245 an ounce to below $1,215, in as little as 100 milliseconds. Full Story
By: Adam Hamilton, Zeal Intelligence - 26 June, 2015
Gold and silver are languishing near major lows, trudging through the barren sentiment wasteland of the summer doldrums. The major factor behind this weakness is extreme shorting by American futures speculators. But their heavily-bearish bets are actually very bullish for both precious metals. Not only do these traders as a herd always bet wrong at price extremes, their shorts are guaranteed near-future buying. Full Story
"Don't push a bad position"! This is good advice in many varied quests. It is good advice in games like chess or poker. Good advice in sports, business, politics, geopolitics and certainly in militarily ventures. Today we will look at two separate issues where "bad positions" are being pushed to the wall First, we have an insane situation brewing in COMEX silver. The open interest finally exceeded 200,000 contracts (1 billion ounces). I believe the only other time this much open interest existed was back in 1980 or '81. Full Story
For an asset like Crude, which is normally extremely volatile, the current prolonged sideways range is very much out of character. Crude has us accustomed to daily swings of 2% to 3%, and to shorter term rallies/declines that draw in traders before reversing suddenly. Crude is generally an asset that fluctuates in price, so the current “flat-line” action is rare. Since the last Daily Cycle peaked on May 6th, Crude oil has been locked in a sideways trading range. Short term traders, expecting the usual crude oil volatility, are being chopped to pieces. Full Story
The TPP Agreement is going to be the final nail in the coffin of the middle class in the United States (and for the middle classes in all the signatory countries). The TPP outright usurps the sovereignty of the signatory countries and hands rule of law over to the large transnational corporations. This means that under this Agreement, the Constitution and all Federal/State laws can be nullified by “legal” decisions imposed under the TPP Agreement. Full Story
USD has been in correction since the hysterical March top. The daily chart shows a series of lower highs and lower lows that was interrupted last week when USD failed to make a lower low, Hammered and bounced… right to the EMA and SMA 50’s. Full Story
Since my first post on SGE Withdrawals Equal Chinese Wholesale Gold Demand Western consultancy firms have kept repeating my analysis is false, in response I’ve continued to clarify the metrics used in the China Gold Association (CGA) Gold Yearbooks. Not to get confused in this debate, this blog will keep track of all arguments ever presented and new ones that surface. Full Story
It’s been a while since we last looked in on ‘Doc Copper’, which has continued to grind through a bear market begun early in 2011. The price has dropped 46% over that time, but the move is still corrective relative to the bull-market low of $1.25/pound recorded at the end of 2008. What would it take to turn prices higher? The question is important, since even the mere prospect of a full recovery from the Great Recession is certain to be telegraphed by rising copper prices. Full Story
One of America's most notorious bank robbers, Willie Sutton (1901-80), is said to have remarked that he robbed banks "because that's where the money is." In a strange twist, the banks themselves are now beginning literally to rob their own customers. Full Story
Can the mere act of someone typing numbers into a computer transform our financial future and the standard of living for all of us? To many people this may seem a quite theoretical or even absurd question. Surely the mere act of entering data into a computer – data whose only existence is electronic and which never takes physical form – is not enough to change the actual global economy and real world investment results for entire nations, as well as our day to day standard of living for possibly many years to come? Full Story
I don’t know anything about Greece. I actually make it a point not to. What I’ve found over the course of my career is that the closer people get to an issue, the worse their predictive power is. The forest-for-the-trees phenomenon. Like all the economists who do nothing but watch the Fed, every piece of data, every speech. Their track record in predicting interest rate moves is worse than everyone else’s! Full Story
It is not often one looks at a yearly chart. Monthly charts are quite common. Time dimensions for charts normally range from monthly right down to tick charts. A tick chart is one that prints a bar at the close of any specified data interval. One of the great things about Nick Laird’s website, Gold Charts ‘R’Us www.sharelynx.com is that Nick’s website contains what may be the most comprehensive array of charts for gold, silver and other precious metals imaginable. Full Story
By: John Mauldin and Jesse H. Ausubel - 25 June, 2015
The common meme in today’s world is that we are slowly (or perhaps even rapidly in some instances) destroying our global environment. Not just by way of global warming, but pollution, over-farming, water usage, and increasing use of all sorts of resources taken from the ground. Post-apocalyptic movies and books are the rage, showing us living in a world where man has ravaged his environment and our lives have been degraded if not destroyed. Our failure to deal with global warming and the destruction of the environment are key components of the mantra repeated by the mainstream media, pundits, and politicians. Full Story
Total official US debt is over $18 Trillion but some of that is “Intragovernmental debt” – such as debt to the social security program. The remaining portion that is actually owed to pension funds, individuals, sovereign governments etc. is about $13 Trillion. It is increasing rapidly, thanks to out of control spending far in excess of revenues. Full Story
Currency devaluation is seen by nearly every macro-economist to be the cure for trade deficits. Recently they have recommended it to Greece arguing for the reintroduction of the drachma so that the Greek economy can become “competitive”, and “rebalanced”. This widespread assumption is easily demonstrated to be incorrect. Full Story
Media analyst Mark Dice tries to sell a 10 ounce bar of .999 fine silver bullion for just $10 dollars outside of a coin shop in San Diego, CA. HINT- It's worth WAY more than that, but does anyone want it? You have to see this! Full Story
By: Steve St. Angelo, SRSrocco Report - 25 June, 2015
There was a definite trend change in precious metal sentiment and investment demand in June as the market senses financial turmoil on the horizon. Each day we see another announcement from Main Stream financial sources warning of upcoming systemic risk in the markets. Full Story
For the first time ever, total Comex silver open interest exceeded 200M contracts yesterday, settling at 200,273. This means that the coming Spec short squeeze is going to be violent and substantial. And why isn't anyone calling this a "bubble"? Full Story
We have all from time to time tried to help others, friends and family, by pointing them toward reality. For our troubles and efforts we have been viewed as the "squirrely" guy/gal with a tinfoil hat who see's everything as a conspiracy. We have lost friends and even had family cringe when holiday get-togethers were planned because no one wants to be exposed to our "craziness". Worse than any disease or even leprosy, anyone spouting Austrian economics or even "common sense" (almost extinct today) has been shoved into the outcast corner by the mass delusional majority. Full Story
Former Fed Chairman Ben Bernanke is in love with another man – Alexander Hamilton. Defending his man’s honor on his personal blog published through his new employer, the left-wing Brookings Institution, Bernanke recently said he is “appalled” that the U.S. Treasury Department is considering removing Hamilton’s mug shot from the ten dollar bill and replacing him with a woman (Bella Abzug? Elinor Roosevelt? Oprah? Who knows). Full Story
The silver paper futures open interest is now officially over a 1 billion ozs., most of which represents a naked short position in silver. Never in the history of the markets has any futures market been this extraordinarily disconnected from the amount of underlying physical commodity that is available to deliver against those contract open interest. Full Story
How many hours a day do your children or grandchildren spend on their smartphones? If they’re anything like mine, the answer is “too many.” According to a new study from ZenithOptimedia, Americans spend an average of 490 minutes a day with some sort of media, mostly television (three hours a day) and the Internet (two hours a day). Full Story
It’s a country with a bulging volcano of pent-up economic potential, like China 25 years ago. And, as with China back then, the man on the street would bristle at the idea of investing in it. That lazy-brain sentiment is what sets this country up as a perfect contrarian opportunity, and one with a short fuse… Full Story
In contemporary discussions of sound money, silver tends to get short shrift. Even among staunch sound money advocates, the historic role of silver as money is often marginalized or ignored altogether. Full Story
Gold and Silver rebounded following the Fed minutes released last Wednesday. However, one week later both metals are back below pre-Fed levels and moving dangerously close to important support. Silver fell 2% on Tuesday to $15.81/oz, which is only 2.2% above its lowest weekly close of $15.46 which occurred seven months ago. Meanwhile, Gold closed at $1177/oz, which is only $20/oz from its lowest weekly close. In short, precious metals are flashing code red as a breakdown could begin in the next few weeks. Full Story
The LIES, SPIN and MOPE are thick this morning as a random Fed Goon reports that "rates will soon be rising 1% per year if the economy continues to grow". Uh-huh. Just like the old adage, "if my aunt had nuts she'd be my uncle". Full Story
While the metals market has moved through the lowest level resistances I noted last week, it made it clear that it wanted to provide us with a higher retracement for this downside set up. And, it does not change the bearish pattern being presented before us at this time. But, as I have been noting, I am continually looking for any bullish set up, and one has not yet made itself clear. So, for now, I am focusing on this downside set up to take us to lower lows likely this summer. Full Story
Globe and Mail columnist Fabrice Taylor joins Cambridge House Live Anchor Vanessa Collette to discuss his investment strategy, harvesting gains and holding cash, how higher interest rates will affect the stock and bond markets, value investing, investor mindset, selling discipline, having a minimum of 10% cash and staying liquid in small cap investing, and much more! Full Story
I realize that most analysts in the gold community are nervous about gold, and nervous about China’s stock market. In contrast, I think this is the greatest time in history to own both gold and the Chinese stock market. Within a few years, I expect the mantra “Don’t fight the Fed” to be about as important as a rotary phone. I’m not predicting that the Fed will fail as an entity, but the new mantra of global money managers will be “Don’t fight Beijing”. Full Story
The Government’s Census Bureau reported new construction home sales for May today. Supposedly new homes sold at a 2.2% higher rate in May than in April. However, notwithstanding the fact that the Census Bureau has already been tagged for reporting fraudulent data, the supposed seasonally adjusted annualized rate for new home sales in May was driven by a supposed 87.5% jump in new homes sold in the northeast vs. April. Full Story
THE Crisis concerns the biggest bubble in financial history: the epic Bond bubble… which as it stands is north of $100 trillion… although if you include the derivatives that trade based on bonds it’s more like $500 TRILLION. The Fed likes to act as though it’s concerned about stocks… but the real story is in bonds. Indeed, when you look at the Fed’s actions from the perspective of the bond market, everything suddenly becomes clear. Full Story
Since the financial system, stock markets, bond markets, and currencies are primed for a correction/crash, expect severe disruptions (we don’t know when) and eventual market imposed discipline upon global governments and over-leveraged banks. Those governments, banks, and individuals with excessive debt are highly vulnerable while those with the largest stockpile of PHYSICAL gold will weather the storm. War may be “necessary” to create a plausible diversion. Full Story
I have to admit that I derive some pleasure in taking on hoary old myths. For example, some economists assert that the interest rate you see on the Treasury bond is not real. You see, it’s only nominal. To calculate the real rate, they say you must adjust the nominal rate by inflation. Full Story
While the London and New York fraudulent paper gold market continues to function as the price-setting markets for the global price of gold, China continues hoovering physical gold. In the latest week reported (June 8-12), 46 tonnes of gold were removed from the Shanghai Gold Exchange. This puts the year-to-date total at 1,061 tonnes, which is up 20% for the same period over 2014 and 7% over 2013. Full Story
The first signs of a rush to convert financial assets into physical gold in China have emerged with a spike in physical gold payouts at the Shanghai gold exchanges. Withdrawals of physical gold from the Shanghai Gold Exchange and Shanghai International Gold Exchange jumped 41 per cent in the trading week 8-12th June from the previous week, while year-to-date withdrawals are up 20 per cent to an incredible 1,061 tones. Full Story
The financial media has recently pitched the transition of the London daily gold fixings to an ICE Benchmark Administration (IBA) platform as a quantum leap from an antiquated Victorian-era process to a futuristic 21st century electronic auction... The evidence suggests however, that in the last decade, the technology utilised in the daily gold fixings was far more advanced than the media commentaries imply, and that since 2004, the old gold fixing was not as technologically backward as is generally accepted. Full Story
Even though the Federal Reserve announced last week that it would wait a little longer to raise rates, spooked investors fled to gold bullion, helping to drive prices above $1,200 an ounce. It was the greatest single-session surge by percentage in nearly a month and a half for the yellow metal, widely seen as a safe-haven investment. As I told MarketWatch, $1,200 is an important threshold for gold miners because it helps increase profitability and spur production. Full Story
The U.S. economy has rebounded from its winter slump – but recent data continue to present mixed signals, leaving the Federal Reserve and most Fed-watchers alike uncertain about the timing of the much-anticipated first step-up in the Fed funds interest rate. One thing is for certain: the gold market and other financial markets already expect the coming hike in interest rates later this year – and anything else could prove to be a plus for gold. Full Story
Alex Daley, the Chief Technology Investment Strategist for Casey Research, joins Cambridge House Live Anchor Vanessa Collette to discuss what tech trends he is following, 3D Printing, Drones, market cycles in tech, the resiliency of tech businesses, disruptive technology, the singularity, Ray Kurzweil, Uber, Airb&b, Homeaway, socialization trend and use of excess capacity, and much more! Full Story
We are all in the flow of it – both physically and psychologically – where it should be understood – bottom line human behavior is a function of Mother Nature – believe it or not. We know this to be true because our behavior can be measured mathematically if one knows what to look for, implying while every aspect and outcome may not be quantifiable, amazingly, mass flows can. Known to most as mass (or crowd) psychology, humans have endeavored to measure this phenomenon within formal constructs that both recognize and dismiss this understanding, but in the end it’s the numbers that prove theory, as will be demonstrated on these pages today. Full Story
I’ve embraced one central theme for the past 30 years – that the price of silver has been manipulated lower on the COMEX. For a good part of those three decades I’ve exerted an intense effort in analyzing the actual supply/demand fundamentals of silver, including production/consumption trends and the resultant annual balance between the two, inventories, investment demand, etc. Those fundamentals indicate that the price of silver must increase dramatically in the future, making the manipulation both the cause and explanation for the continued low price. Full Story
You have heard the phrase many times "it's already in the market", meaning if "something" or some sort of event happens it is already factored in to prices. I was overseas last week, travelled much of the week and stayed in a hotel that had only two English speaking channels ...one of which was CNBC. I cannot tell you how many talking heads were paraded forth whom all parroted the same pabulum, "a Greek default is already factored in the market". Really? REALLY? Full Story
Gold traders are the most bullish in a month on the prospect of slower U.S. interest rate increases. Gold saw a second weekly advance after efforts to secure a Greek bailout faltered and the Federal Reserve signaled a more dovish stance on interest rate increases. Shanghai Gold Exchange withdrawal volume in the week to June 12 came in at a strong 46.2 metric tonnes. Full Story
While much of the world focused last week on whether or not the Federal Reserve was going to raise interest rates, or whether the Greek debt crisis would bring Europe to a crisis, the Permanent Court of Arbitration in The Hague awarded a $50 billion judgment to shareholders of the former oil company Yukos in their case against the Russian government. The governments of Belgium and France moved immediately to freeze Russian state assets in their countries, naturally provoking the anger of the Russian government. Full Story
It is no secret to anyone that has been following the markets this year that the Forex arena has been one filled with confusion, volatility, uncertainty and at times, sheer chaos. “Is the Dollar bull market dead or it is just resting?” “Is the Euro going to endure or will it collapse?” “Is Greece staying in or moving out?” “Is the Fed going to hike and when?” “What is going on in the bond market?”. Full Story
SGE withdrawals have lost their accuracy since the launch of the SGEI in September 2014 – withdrawals in the Shanghai Free Trade Zone (SGEI) can distort Chinese wholesale demand measured by SGE withdrawals (SGE withdrawals disclosed in the weekly reports capture both SGE and SGEI withdrawals). From numbers available in 2014 we knew that not much of SGEI trading was withdrawn by foreign SGEI members; most of the withdrawals in the Shanghai Free Trade Zone were imported into the mainland by SGE members. Full Story
It’s not as if no one saw the problem coming. Experts, including your humble analyst, have been harping on it for decades. Politicians at all levels of government knew very well that a train wreck was inevitable and still did nothing. In some places, like Illinois, the politicians actually did something worse than nothing: they bought votes with promises of future benefits. Even worse, many states had their pension funds sell bonds, thinking they would be able to profit on the difference. Then along came the Great Recession. Oops. Stellar timing. Full Story
Many decades ago you could walk into almost any bank with a bundle of cash and exchange it for a predetermined amount of gold and/or silver. Cash was used because of its portability, light weight, and the confidence of the citizenry that it was as good as gold. I’m sure you already know where this is going. Fast forward to present day and look around you at the plight of cash. It is now redeemable for nothing, is essentially worth nothing, has zero intrinsic value, and despite ludicrous measures, is rather easily counterfeited. Full Story
To Identify The Major Culprit behind the impending Crisis of the Bond and several other Markets, we need to look no further than the private-for-profit U.S. Federal Reserve. Collapse of the Bond and other Markets could, of course, lead ultimately to the Implosion of The Fed. Full Story
Well that is the forecast of the IMF. The Economist doesn’t seem to be quite as optimistic as even their 2015 forecast is suggesting GDP growth of 2.3% for the US, 0.8% for Japan, 1.8% for Canada and 1.5% for the Euro zone. That seems a bit shy of 2% for the rich world. At least The Economist admitted there remains risk from the “Greek debt saga” to “China’s shaky markets”. But one of the big problems is that six years following the biggest financial crisis since the Great Depression the global economy is at best muddling along while the risks appear to be rising not falling. Full Story
By: Vanessa Collette, GoldSeek.com TV - 21 June, 2015
Gwen Preston joins Cambridge House Live anchor Vanessa Collette to discuss why she firmly believes this is the resource market bottom, what she is investing in at the moment, why you should position your portfolio now, and how a very significant rally is coming in the medium term. Full Story
Given the unstable nature of the Eurozone and its currency, the current Greek debt crisis was inevitable. Either some countries will be bailed out, or the euro will collapse. The uncertain future of the euro, the second largest reserve currency and the currency of the second largest economy in the world, is a fundamentally supportive factor for gold prices, which should encourage buying gold as a safe-haven. Full Story
Markets were acting decent after the Federal reserve came out Wednesday and said nothing new. Some stocks are still doing fine and I did do some buying in the week past but I’m not heavy by any means. We’ve seen dips be bought and rallies sold for some time now and I’d certainly expect that type of action this summer so it should be an easy summer to take some time off. Full Story
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