Black Friday has a few meanings. It has the retail connotation and interestingly also marks a Friday in September 1869 when the Gold price plummeted after two speculators attempted to corner the market. Today wasn’t that bad for precious metals but it was a Black Friday given the severe selloff and the particular day and time of year. Gold declined over 2% and Silver lost nearly 7% while gold miners slipped 8% (GDX) and nearly 12% (GDXJ). Full Story
We all know that the major central banks around the world are on the same page when it comes to inflation: They want it higher. One member of the European Central Bank’s executive board, Yves Mensch, went so far as to suggest that Europe’s central bank might buy gold in an effort to ratchet up the inflation rate. Full Story
By: John Mauldin and Jawad Mian - 28 November, 2014
Today’s Outside the Box is special, because I’m about to give you a preview of things to come at Mauldin Economics. For months now I have been saying to my partners that we need to develop a service for the professionals who read me – the financial advisors, portfolio managers, family offices… you know who you are. And I’m excited to tell you that we are very close to making this service a reality. Full Story
If one loves to ride a roller coaster, then owning gold stocks may be for you. The above chart of the Philadelphia Gold & Silver Exchange (XAU) is enough to give anyone that sinking feeling one gets while riding a roller coaster. On a roller coaster when the drop comes you have the feeling that your stomach is floating in your chest. As to your heart well…… Full Story
Before being replaced by programs, the floor traders were a close-nit gallery of regular people with an affinity for dealing and managing emotions. The markets were fast, efficient, imperfect, but protected by an unspoken code of honor that played as the middle man. How unromantic and rudimentary that must have been for today’s central planning, champaign socialist elite. And yet, it worked. Full Story
The hypothesis that follows, if carried through, is certain to have a significant effect on gold and the relationship between gold and all government-issued currencies. The successful remonetisation of gold by a major power such as Russia would draw attention to the fault-lines between fiat currencies issued by governments unable or unwilling to do the same and those that can follow in due course. It would be a schism in the world's dollar-based monetary order. Full Story
Nevertheless, we still expect that with Europe, China and Japan now hitting the accelerator as the US coasts away from QE, the shear stresses that engendered a broad based positive skew in the US equity markets and dollar, should diminish over time. Although it's a short window to measure, from a relative performance perspective, we have already seen as much since QE wrapped up in the US last month. Full Story
This past Thursday I was speaking with John Embry regarding the massive 80 ton sale of gold futures the day before in a tight 15 minute window. We talked about how egregious the suppression has become and the "scorched Earth" policy employed over the last couple of months. We both agreed this can only mean we are getting closer to something big (and very bad) happening very soon. Full Story
Finally, it is also not very likely that the Puerto Rican government itself will end these programs. Attracting wealthy people and profitable businesses to relocate to Puerto Rico through these programs is attractive to both of the major political parties in Puerto Rico. Given the financial crisis in Puerto Rico, it is unlikely that the local government—which has committed large resources to marketing these programs—will suddenly embark on a different direction. Full Story
Still securing the position of the Swiss franc buy buying gold is far from being as mad as trying to do so by printing paper money as other central banks around the world are doing with their currencies. Somebody has to be the first to move towards sound money. Full Story
Stock buybacks are always a good thing… right? That’s what the mass media has trained investors to believe, but there are times when stock buybacks are a horrible strategy. Full Story
And thus, whilst Swiss citizens face the “decision of a lifetime” regarding the fate of their nation, the rest of the world sits in economic purgatory waiting for the inevitable spark that blows history’s largest fiat Ponzi scheme sky-high. Hopefully, you realize the uniqueness of the opportunity presented, enabling you to protect your assets at historically subsidized prices – amidst an unstable monetary system that could implode any day. Full Story
From a fundamental standpoint, there are two reasons to think that China may see a weaker CNY. To start with, they cannot be happy to have Japan, their largest trading partner, devalue the JPY against the CNY by 62% over the past three years. While China talks a big game about creating a domestic consumer economy, for now, it is still very much an exporter and the decline in the JPY must be putting a strain on certain industries. Incidentally, this isn’t happening in a vacuum—over the past few months, the Koreans have starting to see their Won weaken and now the Euro is joining in. In a trade war, can China sit by and let everyone else devalue—or will they be forced to play catch up? Full Story
For over two thousand years, China practiced what came to be known as the “tributary system,” reflecting the view that it alone was the center of the civilized world. All who wished to do business with the Chinese were considered tributary states. Rulers and travelers from other lands had to follow certain procedures, including gift giving, in order to associate or do business with them. Full Story
Last month kicked off a new long-term Kress cycle. The Kress cycle, which answers to the Kondratief wave of inflation/deflation, is responsible for the overall climate of economic and financial market conditions in the U.S. This long-term cycle also influences the course of central bank monetary policy by creating the conditions which the Federal Reserve must tailor its policy response to. Full Story
Every solar panel contains between 15 and 20 grams of silver. At today’s prices, that’s about $20 per panel. When silver was hanging out in the mid-$30s range a couple of years ago, it was double that. Full Story
If a new collaborative document had recently been released in which some of the world's most influential economists were urging the nations of the world to force negative returns on savers as a long-term matter of policy – might this be of importance to you? Full Story
By: Peter Schiff, Euro Pacific Capital - 24 November, 2014
As an American, I envy the choice that the Swiss have given themselves. If successful, the vote could be seen as the first major counterattack against the forces of fiat currencies and unlimited global QE. A successful outcome may also mean the requirement for the Swiss government to buy gold would add significant demand in the gold market and should thereby help put the metal back on track. Full Story
Please do not call or write me Monday morning and say "see, nothing happened ...again". All I am saying here it that the COMEX is now "cornerable" and in a very vulnerable position. Maybe it will not be now, maybe it will? All I can say is history is rife with "bank runs", sooner or later the longs will stand for the delivery of an inventory too small to satisfy them, this will be nothing different than a bank run when it happens. Full Story
Therefore, your only winning move is to take immediate, physical delivery of your gold holdings. Do not, under any circumstances, hold your metal in unallocated, paper form. You do not have clear provenance and, when this entire fractional reserve bullion banking scam finally collapses, it will be YOU left holding the bag. Full Story
G20 gatherings of world leaders on the surface are all the same: they conclude with a meaningless anodyne statement that everyone can agree with. But these meetings do serve a purpose: they allow the world leaders to meet informally and exchange views. Full Story
The heavy involvement of investment banks in commodity trading creates the potential for market manipulation and conflicts of interest in the gold market, and exchange-traded gold funds may be mechanisms of market manipulation contrary to the basics of supply and demand, according to the 396-page report published last week by the Permanent Subcommittee on Investigations of the U.S. Senate's Committee on Homeland Security and Governmental Affairs. Full Story
The global financial system has come unglued. Everywhere the real world evidence points to cooling growth, faltering investment, slowing trade, vast excess industrial capacity, peak private debt, public fiscal exhaustion, currency wars, intensified politico-military conflict and an unprecedented disconnect between debt-saturated real economies and irrationally exuberant financial markets. Full Story
I’m referring, of course to Sunday’s “Save our Swiss Gold” referendum; which, in my mind, is at worst, a dead heat. Consequently, modern day “Sutlerites,” led by the Swiss National Bank’s evil Chairman, Thomas Jordan, are doing everything possible to convince citizens a Swiss gold standard will be “fatal.” Meanwhile Egon Von Greyerz’s “freedom fighters” courageously spread truth. Depending on which poll one views, both sides have solid chances of winning – particularly as roughly 15% remain “undecided.” Full Story
By: Florian Siegfried and The Gold Report - 24 November, 2014
Florian Siegfried, head of precious metals and mining investments with Zurich-based AgaNola, says there are small signs—fewer equities participating in the recent rally, greater spreads in the high-yield market—that the sentiment toward gold is changing. But we will have to wait to see if a trend forms. In the meantime, Siegfried believes all-paper M an A will gain pace, with a focus on companies that are making money at current gold prices while still trading at multiyear lows. In this interview with The Gold Report, Siegfried suggests playing it safe with some small producers and tiny developers. Full Story
We’re at the point in the equity bull market Cycle that every piece of news is construed as positive for the equity markets. In many cases, the news even appears to accentuate positive possibilities. The speculative nature of the current advance has by now captured the vast majority of market participants; the media and the pundits are no exception. Full Story
If the answer to that question is no, we have a solution for your investment woes. Not many investors can handle the stress that comes with losing nearly half of their retirement funds and being forced to wait seven years to break even—only to lose another 40 percent a couple of years later. Full Story
After two years of insane money printing designed to rescue its failing economy, Japan has now been rewarded with… another recession.
So what went wrong you ask? The same thing that always goes wrong when a central bank resorts to money printing to rescue an economy instead of allowing a cleansing period and a return to real productive growth. All they accomplished with their massive QE program was to spike inflation. Full Story
Bad Yen Falling The Obvious Impacts Every Central Bank for Itself Seriously, the Fed Is Doing What? Complexity and Collapse The Fragile Eight Home for the Holidays Full Story
Therefore, it seems that unless the Fed raises the interest rates definitely, instead of testing the market or introducing only cosmetic changes, the position of gold in the long run is not at risk. Full Story
And thus, the issue of the boy who cried wolf. At some point, people stop listening; and in this case, global fixed income and commodity markets decidedly aren’t buying America’s “recovery” propaganda. Not to mention, the physical gold and silver markets, which are both experiencing record demand. Given the reality that “Economic Mother Nature” is revealing, it won’t be long before the money printing and market manipulation “legs” break as well. And when they do, if you haven’t already protected yourself with real money, you may never get the chance; certainly, not at prices anywhere near today’s historically suppressed levels. Full Story
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