In a bull market corrections can end quickly. One minute you are projecting another 5-10% downside and the next, the market has left lower prices in the dust. A negative reaction to the Federal Reserve statement could have caused lower prices but instead Gold and gold stocks are now primed for new highs. Fundamentally, we know the Fed will do nothing to prevent real rates from remaining negative. Since the trend has turned, Gold and gold stocks have mostly ignored the moronic, empty drivel emanating from these supposed geniuses. Moreover, despite reports of increased potential for a rate hike in September, weakness in precious metals abated and buyers returned. Full Story
By: Adam Hamilton, Zeal Intelligence - 29 July, 2016
The gold-mining stocks have enjoyed enormous gains in their young bull market this year, trouncing all other sectors. Naturally this radical outperformance has led to surging popular interest in this usually-obscure contrarian sector. New investors are wondering how to best track its performance, about which gold-stock benchmark is the definitive one to use. Something of a battle is brewing over new versus old. Full Story
By: Steve Saville, The Speculative Investor - 29 July, 2016
Once upon a time, the concept of “helicopter money” was something of a joke. It was part of a parable written by Milton Friedman to make a point about how a community would react to a sudden, one-off increase in the money supply. Now, however, “helicopter money” has become a serious policy consideration. So, what exactly is it, how would it affect the economy and what are its chances of actually being implemented? Full Story
A new Conservative Prime Minister and Chancellor are in place, both David Cameron and George Osborne having fallen on their swords. The third man in the losing triumvirate, Mark Carney, is still in office. Having taken a political stance in the pre-referendum debate, there can be little doubt the post-referendum fall in sterling was considerably greater than if he had kept on the side-lines. Full Story
This has the makings of a classic speculative opportunity—one where politically caused distortions are liquidated and prices readjust. But a word of caution. It’s going to take place within the context of the Greater Depression. And, as Richard Russell, who lived through the last depression, observed: In a depression, nobody wins. The winner is just the person who loses the least. Full Story
Some have said that Britain shouldn’t Brexit because it will cause chaos. There’s some truth to that—but not because what Britain did was in any way destructive. Their action is best compared to that of passengers on a sinking ship who are the first ones to board a lifeboat. Nietzsche had it right when he said “that which is about to fall deserves to be pushed.” Any chaos that occurs is the result of the EU’s flaws, not Britain’s exit. It’s as if you have a 100-story building which is about to collapse. It’s better to arrange a controlled demolition than wait for it to fall at a random time. Full Story
A year ago almost to the day we began tracking a ‘Macrocosmic’ theme that would eventually see gold bottom and rise vs. stocks and bonds in 2016, joining its bullish status vs. commodities, which had been in place since 2014. Nominal gold bottomed in December 2015 before silver, commodities and stocks as a counter cyclical environment birthed a new precious metals bull market. We updated the progress here, here and here in 2016. Full Story
Despite short-term memory loss affecting most investors, asset bubbles tend to crash with a vengeance. From over-valuation, risk ignorance, and reactionary sentiment, the current bubble-trifecta shows signs of turning over. The monetary powers that be have succeeded in creating serial asset bubbles. Each is extending from the great expansion of credit pivoting on the last official dollar default in 1971. Full Story
Regarding today’s news, the average person is inundated with unnecessary junk. On any given day you will find experts telling you why the markets are destined to soar and or crash. News outlets are desperate for eyeballs, so they are going out of their way to make titles bombastic, and or offering multiple scenarios so that when one of them comes to pass, they can proudly state we told you so. Full Story
The gold miners-to-gold ratios are indicators that show how many gold ounces are required to purchase one share of an index. Technically, the numbers are the value of the index divided by the price of gold. They show a relative value of miners to the price of bullion, thus indicating whether gold stocks or gold are overvalued or undervalued relative to each other. When the ratios are low, miners are cheap compared to gold, and when the numbers are high, gold stocks look expensive relative to bullion. Full Story
For within the space of less than 3 years, World Gold Trust Services has gone through 4 Chief Executive Officers (CEOs) and 3 Chief Financial Officers (CFOs). By any standard this is a huge amount of senior executives moving through the roles, and would normally ring alarm bells in the corporate governance departments of major institutional investors. Perhaps it has caused concern among institutional investors of the SPDR Gold Trust (GLD), but if it has, it has gone unreported. Full Story
I’m going to show you how to trade against the crowd using the most recent 18 months of daily charts of $HUI (Gold Miners), $SPX (SPX 500), $WTIC (Crude Oil), XLE (Energy) and $USD (US Dollar). Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 28 July, 2016
Theodore Roosevelt's famous mantra "speak softly and carry a big stick" suggested that the United States should seek to avoid creating controversies and expectations through loose or rash pronouncements, but be prepared to act decisively, with the most powerful weaponry, when the time came. More than a century later, the Federal Reserve has stood Teddy's maxim on its head. As far as Janet Yellen and her colleagues at the Fed are concerned, the Fed should speak as loudly, frequently, and as circularly as possible to conceal that they are holding no stick whatsoever. Full Story
I have a ton of charts I could post tonight but I’m going to leave this Wednesday Report just the way it is. This is the first time since we opened up our doors at Rambus Chartology in which I didn’t post a chart, which is weird for me. What is most important to understand is this new bull market that is already six months old and isn’t waiting around for you to make up your mind if you want to participate or not. Only you can determine for yourself how you want to play this new bull market in the precious metals stocks. Full Story
The first stage in a bear market begins with a severe drop below the 200 day moving average. This serves as the shot across the bow warning. Then there is usually at least one more attempt to recover the 200. When it fails the bear market starts in earnest. The dollar has dropped below the 200 this morning. Full Story
Fueled by idle threats from the Fed, gold futures launched sharply higher from well above the 1306.00 pivot where we’d hoped to do some bottom-fishing. The rally exceeded no fewer than four peaks on the 120-minute chart, two of them ‘external’, so bulls will have the bad guys on the run as we head into week’s end. They could flatten bears with a further push above 1348.00 (see inset) on Thursday, but night owls needn’t wait to get long, since the shallow pullback from the intraday high is close to generating a tradable pattern that I’ve sketched hypothetically for your guidance. Full Story
In 1974, the American economist Arthur Laffer, then a professor at the University of Chicago, was having dinner with his friend Jude Wanniski, an associate editor of the Wall Street Journal. They were joined by Donald Rumsfeld and Dick Cheney, both of whom worked at the time in the Gerald Ford administration. The topic at hand was President Ford’s Whip Inflation Now, or WIN, initiative, which included proposed tax increases. Full Story
Today’s bubble is global, as capital sloshes from one country to the next in search of safety and/or yield. So this time around virtually all major governments have been corrupted, and now every country’s major corporations are about to suffer the same fate. We have, in short, the mother of all crack-up booms coming our way. Full Story
So where's the good news in all of this for you? First, physical metals have not risen nearly as much, proportionately, as have the underlying mining stocks. Indeed the miners are simply playing catch up, rising faster than gold and silver – as they should, because owning them comes with more risk. Second, the general public still has not placed precious metals on their "must have" list. Sure you hear radio advertisements to buy, but how many of your neighbors, friends, and family members hold any? I'm willing to bet the answer is very few – or none! Full Story
While we spent most of the time on talking about the housing market, the point to keep in mind is that this bull market will probably run a lot higher, because it is still one of the most hated bull markets in history. No bull market has ever ended on a negative note, and the cards are lining up to provide this market with the ingredients it needs to take it to the bubble level. The masses will embrace this market just as the corporate world has done for the past eight years once and they do this market is going to soar even higher. Full Story
The worst part of the world’s ongoing financial crisis is still on the way: A crisis that has its roots in the debt-based monetary system. The debt-based monetary system has facilitated the growth of debt, to levels that will inevitably bring total collapse. Full Story
While I still maintain my primary larger degree expectation that we are on our way to our higher targets noted over the last several weeks, the drop has finally caused me to place an alternative count on our chart, which is represented by the GDX blue count. Again, while I want to reiterate that my primary perspective is to still be looking up, I am going to recognize the possibility that we go down a bit more early in the upcoming week before the next rally takes hold, as presented on the 8 minute GDX chart. Full Story
The insidious nature of credit expansion under the implicit guise of forced legal tender has worked it’s way (essentially) undiagnosed through many generations. Viruses work from the inside out. They take over the control center of a cell. They use the existing machinery to proliferate. Ultimately, the most successful become part of the host. Some become a part of the genome. Junk DNA, or the so called silent DNA, have been found to be composed of old retroviruses that were eventually incorporated into the genome and passed along. Full Story
Many investors and their financial advisors consider gold to be a commodity, which makes gold no different than copper, timber, pork bellies or orange juice. They do not understand, or simply are unaware, that gold has been successfully used as money for over 3,000 years. Although some people think it is an archaic relic, the facts don’t support this view. So, what is money? Full Story
The crude oil price rally has been completely destroyed, though I’ll admit I was wrong when I predicted crude oil prices would plummet in March or April as the perfect storm developed against oil prices. Instead, they rallied. In spite of that, I continued to believe my error was in timing and not in fact — not in the fact that a another harsh fall in oil prices was beating a path to our doors. Full Story
The $26.80 support zone can also be seen on the weekly chart. To view it, please click here now. Double-click to enlarge. Aggressive gold stock enthusiasts can buy right now, ahead of the Fed and BOJ meetings. More conservative investors like myself will typically wait for $26.80 before buying. All in all, it’s a super time to be invested in the precious metals sector, and I hope everyone is cheering for a gold-positive announcement from the BOJ on Thursday! Full Story
By: Steve St. Angelo, SRSrocco Report - 26 July, 2016
There was a huge trend change in U.S. gold investment in May. Something quite extraordinary took place which hasn’t happened for several decades. While Switzerland has been a major source of U.S. gold exports for many years, the tables turned in May as the Swiss exported a record amount of gold to the United States. Full Story
Looking more Las Vegas casino than Oval Office, the stage Donald Trump delivered his nomination acceptance speech from Thursday was all gold, from the stairs to the podium, completely befitting of his showman-like style. Whether you support or oppose Trump, it’s time to face reality. This is really happening, and we should all brace ourselves for what will surely be one of America’s messiest, ugliest general election seasons. Full Story
Markets don’t generally go through a major resistance zone on the first try. Notice it took the SPX 5 tries before it could break through the 2015 high. I think we can expect the same thing when the Nasdaq tests the all-time highs. It should pull back, and I expect it will take the rest of the markets down with it. Nasdaq will likely pull back to the 5,000 level. Full Story
What I will say comes with some reservation, mainly because the future is unwritten. However, based on the notion that markets will rhyme rather than repeat, I present a scenario in which a decision has to be made by silver investors in the near future. That decision is whether to hold onto silver, sell some of it or sell all of it. Full Story
One in six investors chose gold as the best place to park money they wouldn't need for more than ten years – the same number that chose stocks, according to a recent Bankrate survey. Another 6% chose bonds, while 25% chose real estate, and 23% said they would simply bank the money. Full Story
Bubbles are bursting everywhere for the Truman’s of this world today, previously coddled in whatever version of reality TV they resided – waking up to the scary truth we are trapped in a forgotten episode of the Twilight Zone (but never forgotten by Orwell) – the one where psychopath fascists take control of the world and kill us all. That’s what happens when you’re a naďve idiot like Truman, getting all your information from a bankrupt society attempting to preserve itself through lies, script, and authority. Full Story
Silver, primarily Mike I love it as the industrial metal, as something who's known ore grades are vanishing and deposits are depleting, and we know that it's being used increasingly for more and more industrial applications. Silver is my Rip Van Winkle metal. I love it. If somebody said, "I need to pick one of these two, 20 years I want to be happy when I wake up." Silver’s it. It's a volatile metal that goes up and down, I think it could have a run down if we hit a capital “R” recession or depression across the world… if China blows up or something like that. But barring that, I love silver because of its actual supply and demand characteristics going forward. I think it's heavily underpriced here. Full Story
It’s Monday morning, and the Yen/dollar exchange rate is unchanged from Friday’s close. Thus, gold and silver should be unchanged, too – right? Which I say facetiously, as the premise I wrote about Thursday, based on 15 years of tick-for-tick Precious Metal experience, is again proven true. Which is, the “trading relationship” between Precious Metals and the Yen/dollar – just like their fundamental relationship – is pure fiction. At least, the ridiculous notion that the Bank of Japan’s attempts to destroy the Yen – with, say, “helicopter money,” is LOL, “bearish” for gold and silver. Full Story
Francisco Blanch, head of commodities research at Bank of America Merrill Lynch, says there is political risk building into the gold market, including the Italian referendum and U.S., French and German elections. Blanch adds that in the past, gold used to be driven more by the U.S. dollar and commodity market movements, but “in this day and age, it’s a new world.” He also mentions that one-third of government bonds are yielding negative. Full Story
Kevin Kerr of Kerr Trading International rejoins the show, with positive comments on safe haven investments amid growing economic / political uncertainty. The upcoming November election and EU instability are the two wild cards making investors / institutions nervous enough to increase portfolio weighting in gold and silver assets / shares. Dr. Stephen Leeb, best selling author and head of The Complete Investor returns to the show. He outlines his soon to be released gold magnum, destined to be his 8th bestseller. Full Story
This enabling allows to the banks agency to do what they like. With silver in particular, they enjoy 'market maker status' on the surface while building positions that cannot be resolved without inescapable and permanent damage -- with or without any amount of intervention including confiscation and taxation. The converging legacies of the state and money centers never fully merge. They serve each other in a bizarre symbiosis that ultimately drains both to death. Full Story
The coming economic/financial/monetary reckoning can't be avoided at this point; only managed. But we can't position ourselves to manage it gracefully if we don't have to courage to even recognize its existence. And our current leaders do not have that courage. Which is why we need to ready ourselves, as individuals. Charles Hugh Smith recently penned an excellent report Investing For Crisis which is an essential read for any investor who shares the concern that we will continue to see more wrong choices being made for the wrong reasons -- until the entire systems fails. If you haven't read it yet, you really should. Full Story
Anyone who has read this publication for any length of time knows that topics range from mainstream to the totally uncovered stories. As we look out not just across the economic landscape, but across the world in general, we are seeing an alarming increase of serious situations that are receiving little or no coverage at all from the western media. Thankfully there are hundreds if not thousands of reliable people who chip in with analysis and stories of their own on some of these topics. Full Story
My favorite indicator for real time Gold demand is the amount of Gold in the GLD and its fluctuations over time. As we wrote in our book, the driving force for Gold is investment demand which is driven by changes in real interest rates. Western-based investment demand from big money (i.e Stan Druckenmiller and George Soros) shows up mostly in the ETFs and specifically, GLD. The amount of Gold in GLD has risen steadily even as Gold consolidated a few months back and has been stable in recent weeks even as Gold and gold stocks correct their Brexit breakouts. Full Story
The gigantic war continues unabated. Hedge funds keeping pile in on the long side while Commercials and Swap Dealers keep selling them all they want. The hedge fund net long is at a new all time high. The Swap Dealer net short is also at a new all time high. Commercial net shorts are fast approaching the all time high set back in October 2009. Full Story
This series is based on the premise that debt works the same way for countries as it does for individuals and families: When you borrow too much your life spins out of control. For national and multi-national entities that means elections become unpredictable, economies function erratically, and public policies become more ad hoc and less effective. Full Story
You can’t beat something with nothing, Gary North has said repeatedly, and I think he’s right in the realm of ideas. Bad ideas, once entrenched, hang around until a crisis brings the roof down. Even then the guilty will be standing in the wreckage pointing fingers elsewhere, usually toward anything that hints at freedom. Full Story
Stocks rested mostly this past week along with markets who continue to setup for another round of higher prices as summer rolls along at a typical fast pace. Metals didn’t do too much either this past week but they did show a few flashes of weakness which were quickly quashed as support levels held and now they look set to move back higher. Full Story
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