All things, both good and evil, come to an end. So it will be with the great silver price manipulation, which I date as having existed, in its COMEX-orchestrated version from 1983. Before that, of course, silver prices were never truly free, mostly as a result of some type of government interference. The US Government both supported and then depressed the price of silver for a hundred years prior to 1983, first by amassing more than 5 billion ounces and then by disposing of same. Full Story
Look at the plethora of problems in my list of 2020 economic predictions, which are so severe and so likely to get even worse that it’s more difficult to imagine they won’t get worse than to believe they will. Some are so bad that just a few of them would plunge us into an abyss of social and financial catastrophes.
Here are my economic predictions for the remainder of 2020... Full Story
The annual data for silver supply is in, and it shows that the structural decline in new supply for the silver market has strengthened. It is not temporary, and can’t be easily resolved or reversed. The main issue is the deterioration in mine production, although scrap sources are falling as well. This is important because much of the bullion you and I buy comes from newly-mined silver. Secondary sales (bullion products that have been previously bought and sold) will always have a place in… Full Story
The majority of financial market participants were blindsided by the Federal Reserve’s recent historic actions following the reported outbreak of the Corona virus.
Yet for those who know about G. Edward Griffin and his legendary book “The Creature From Jekyll Island,” the latest financial moves came as little surprise. As a result, they were prepared in advance. Full Story
And, now that most of those short positions have been forced to cover, the market is setting us up for a larger degree pullback over the summer. While it is still possible that the market may make an attempt at the prior all-time high first, I think it is likely that we will see levels much lower than where we are today before we are ready to attack the 4000+ region.
So, now the questions you have to ask yourself are if you are going to allow the news to direct your investment thesis; if are you going to buy into the common bias or a recency bias about the market; and if are you going to maintain a losing position based upon your hope? Full Story
By: Richard (Rick) Mills, Ahead of the herd - 24 June, 2020
The $2.2 trillion relief package Trump signed into law on March 27 is just the beginning, with the Treasury Department now seeking $250 billion more for small business loans. If House Democrats and the president can agree on a Phase 4 spending deal, targeting infrastructure, that would mean another $2 trillion.
According to Bank of America, via Zero Hedge, the amount of global fiscal and monetary stimulus has already reached an astronomical US$18.4 trillion in 2020, consisting of $10.4 trillion in government spending and $7.9 trillion in central bank asset purchases, “for a grand total of 20.8% of global GDP, injected mostly in just the past 3 months!” Full Story
There may be something to this hypothesis, but it strikes your secretary/treasurer as weak. For if gold goes to the moon in some sort of international currency reset, it is hard to imagine any country, regardless of U.S. swap lines, not at least revising upward its mining royalty requirements.
But even then there might be plenty of money for the miners and their host governments alike. After all, governments are not terribly skilled at managing industrial operations -- even communist China, whose government is said to purchase all domestic gold production, permits some foreign investment in its gold mines. Full Story
By: Dave Kranzler, Investement Research Dynamic's Mining Stock Journal - 23 June, 2020
Beyond China’s “invisible hand,” I don’t know how else to explain the strength in the gold price during a period of time – late 2019 through present – when China and India have largely been absent from the gold market based on import data, while at the same time the Comex paper gold open interest has declined over 40% since January.
Gold has been surprisingly strong this morning, hitting an eight-year high at $1785 (August gold basis). If August gold can jump over the $1788-1790 area, which has been defended vigorously by the paper gold slinging western bullion banks, the $1800 level may fall like Gaul… Full Story
By: David Smith, The Morgan Report - 23 June, 2020
The current phase of the gold bull market, which started last year, is – we believe – the third and final wave of the secular bull run tracking back to 2001.
It's going to create a tidal bore of immense size and power. A wave that those who hold the metal (and silver) can ride as insurance against state-sponsored value-destruction of a country's currency, and as real money that cannot and has not ever gone to zero in recorded history.
It could last 3 or 4 years, until the end of this decade... or beyond. Full Story
In a sign that the Federal Reserve is growing increasingly desperate to jump-start the economy, the Fed’s Secondary Market Credit Facility has begun purchasing individual corporate bonds. The Secondary Market Credit Facility was created by Congress as part of a coronavirus stimulus bill to purchase as much as 750 billion dollars of corporate credit. Until last week, the Secondary Market Credit Facility had limited its purchases to exchange-traded funds, which are bundled groups of stocks or bonds. Full Story
We are reading now about possible regulations for air travel. In brief: passengers might be forced to spend hours at the airport. Authorities will perform medical checks, including possibly needles to draw blood, no lounges, no food or drink on board the plane, masks required at all times, and even denied the use of a bathroom except by special permission.
We would wager an ounce of fine gold against a soggy dollar bill that people will hate this. The majority of vacationers will not want to fly. A holiday is supposed to be fun, and air travel promises to be a lot less fun that it was in March. Full Story
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