When this fails because everyone responds by borrowing even more — thus making the total debt burden more rather than less onerous – most of what remains of the FIRE economy will die a noisy death. This will be a disaster if you work on Wall Street, rely on a public sector pension and/or own a bunch of bank stocks. It will be hard but survivable if your wealth is in real rather than financial assets. Gold, as always, is the safe haven. Full Story
By: Adam Hamilton, Zeal Intelligence - 30 September, 2016
After rocketing higher mid-year, silver has spent most of the third quarter drifting sideways to lower. This has naturally weighed on sentiment, with investors and speculators alike growing more bearish during recent months. Yet silver remains way undervalued relative to its primary driver gold, so silver’s young bull market is far from over. This metal’s upside from here is still massive as it mean reverts higher with gold. Full Story
Certainly, any attempt to identify the most serious current financial scandal involves stiff competition and the need for objective measurement. Scandals have become almost commonplace and come in all varieties and sizes and vary in the degree of publicity they attract. But there’s a big difference between the scandals that create the most headlines compared to the scandals that financially damage the greatest number of victims. I would contend that the biggest scandal must be defined by the greatest financial damage to the most people and not the amount of publicity a scandal might generate. Full Story
In early September, when President Obama landed at Hangzhoi for the G-20 summit in early September, the CIA security men were told in no uncertain terms by the Chinese that they were not in charge of landing arrangements, and that the President would disembark by the rear exit. It had the hallmarks of a calculated snub, as did the obligatory photograph of the world’s leaders, where the President was placed firmly on the far left, and not near the centre, which is customary. Full Story
The Dow utilities and the Dow industrials both traded to new highs which means rather than leading the way up; they are propelling individuals to draw the wrong conclusion. The Dow Theory ceased to work properly a long time ago and in the era of hot money; today it is having a hard time trying to be of relevance. The alternate Dow Theory that focuses on the utilities is a better option. Thus, maybe it is time to put this 100-year-old theory to rest; we will let you be the judge. Full Story
By: Rick Ackerman, Rick's Picks - 30 September, 2016
U.S. stocks executed a shallow swan-dive around mid-session on Thursday, spooked by news that a bunch of hedge funds had withdrawn spare collateral parked with Deutsche Bank. Predictably, the pundits downplayed Deutsche’s problems, including a $14 billion shakedown by U.S. regulators to settle mortgage claims from the Great Financial Crisis. With no hint of irony, Bloomberg.com calmly noted that “the situation doesn’t appear to be that dire for Deutsche Bank at the moment. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 29 September, 2016
While a record audience watched the first presidential debate between Hillary Clinton and Donald Trump, the sad truth is that the candidates differ very little on the issues that matter most. As president, both Clinton and Trump are likely to drive the country deeper into debt, expand government power, and further curtail individual liberty and economic freedom. Though we can vote against the candidate we feel will accelerate this trend, our votes may do nothing to change the direction we are headed. Full Story
Arch Crawford, head of Crawford Perspectives showcases his investing methods that he's honed over forty years. Observation of market and astronomical anomalies indicates the potential of extreme volatility in 2017. Arch thinks the Fed does not have the remaining fire power to hold the US equities markets aloft forever. Gold remains one of Arch's favorite markets. Full Story
By: Steve St. Angelo, SRSrocco Report - 29 September, 2016
When the next financial crash occurs, investors need to understand which of the top four precious metals are the best to invest in. Unfortunately, there has been a great deal of faulty analysis that has mislead many investors about the fundamentals of gold, platinum, palladium and silver. I will provide information in this article on the top four precious metals that has not been covered correctly by the majority of analysts. While some may have touched on individual aspects, very few have put together an in-depth analysis on these metals to properly educate investors. Full Story
Quite a few rallies in the recent months were preceded by the mining stocks’ outperformance relative to gold and we just saw the same kind of phenomenon on Wednesday – GDX rallied while gold declined. Is the bottom in? Let’s take a look at the miners’ chart for details - other charts don’t feature important changes from what we described previously so mining stocks are the part of the PM sector that we’ll focus on in today’s free article. Full Story
Time for a reality check. The market has had nothing but positives for three months now. BREXIT was contained. The Fed failed to raise rates again. The Bank of Japan and European Central Bank are printing a combined ~$180 billion per month (a record pace) and using it to prop the markets up. Full Story
We would like to state that this article is not about politics but about the effect these two polarising individuals will have on the market. Before the debate, the outlook was somewhat favourable towards the Donald and immediately the markets reacted and started trending lower. Regardless of what you think of Trump, he is having the same effect as Brexit had on the markets but in smaller doses. Full Story
Last week, the Federal Reserve decided to keep US interest rates unchanged, marking its 96th month of life at the zero bound. Apparently, for all of its "data dependence", the Fed feels the economy could still benefit from *just* a little more of its ZIRP happy juice. But as anyone with a little common sense will tell you, More is not always better. It's quite possible to have too much of a good thing. Full Story
Late August into September ushered in an intermediate and much needed correction to the year's blistering uptrend for the metals and miners. If you believe, as we do, that the new bull run for gold and silver has at least several more years to run, then going against your emotions and adding to your position – or starting a new one – is the right thing to do. Full Story
What is little appreciated today is that the Humphrey Hawkins Full Employment Act in 1978 assisted in “birthing” Financial Repression and placing us firmly on the Monetary policy path the Federal Reserve is presently imprisoned by. Deep State planners fully understood then that employment would become an increasingly larger problem in America and within the developed nations as leveraged buyouts with immediate “downsizing”, “rightsizing” and “outsourcing” were beginning to dominate the financial engineering game of the day. Full Story
An often-perceived analysis in the gold community is that gold is the constant in our global economy. But is this true? Yes and no. Allow me to share my observations. Although gold has an exceptionally constant nature, and we have yet to see another currency that can compete with gold’s constant nature, the reality is, that there is no exact constant in economics. In any market all goods, assets, currencies, etc. continuously fluctuate in value relative to each other due to ever changing supply and demand dynamics. Full Story
In a world where fantasies and scams are ever-present and increasing, it is reassuring to know that gold and silver have been a store of value for thousands of years. As digital and paper currencies are further devalued during the next decade, gold and silver will substantially increase their purchasing power. Full Story
Hailing from scenic Buenos Aires, the "Big Apple" of South America, President Grosso outlines the key differences between PMs exploration and production. One big discovery can require as many as 1,000 site visits - yet the tedious / time-consuming process can yield muy grande sized rewards. In 23 years of exploration, President Grosso cites 3 major discoveries, one in gold and two in silver. Through high quality "social license" and "economic feasibility" Golden Arrow Resources is head and shoulders above most competing PMs explorers. Full Story
At this point in time, I believe the predominance of the evidence suggests that lower levels will be seen, and it would take silver to break out over the August high, the GDX to break out over 31, and GLD to break out over 132 for me to take a much more immediate bullish stance on the metals complex. And, as usual, if I should see any signs which would make me adopt the more immediate bullish perspective, I will send out an Update to all our members the moment I see it. Full Story
By: Peter Schiff and Roy Sebag - 28 September, 2016
In an epic meeting of economic intellects, Peter Schiff and Roy Sebag talk about Goldmoney’s recent acquisition of SchiffGold and the coming revolution in value transactions. Peter and Roy also discuss the special properties of gold that make it the best standard for backing currency, Goldmoney’s potential to change the way we buy, sell and save, and how crypto currencies and the internet are making banking systems irrelevant. Full Story
While it’s not always a perfect timing tool, oversold in a bull market is always a buy signal. Why? Because in a bull market price will always return to overbought conditions and when it does you make money. Full Story
Gold, after all, has typically played an auspicious role in Koreans’ personal milestones. Many families celebrate an infant’s first birthday in a tradition known as doljanchi, during which gifts of 24-karat gold rings are customary. Gold jewelry and watches are routinely given to newlyweds, as we also see in India, Turkey and elsewhere. Companies often award retirees with gold keychains. Full Story
Today is October option expiration and Friday brings the end of the month and quarter. Therefore, we should not be surprised by the level of abject and overt price manipulation and chart-painting that is being done this week. As we discussed late last week, below is the most important chart for this week. We suspected that The Banks would intervene in order to keep price from a new monthly high AND below this long-term trendline. The LAST thing The Banks want is a breakout and rally just as Q3 ends and Q4 begins as this would almost certainly inspire new 2016 highs and a virtuous cycle of even higher prices. Full Story
Some say the U.S. dollar may die 5 days hence. The Chinese renminbi will kill it. Much is being made of plans by the International Monetary Fund (IMF) to add the renminbi to its basket of strategic reserve currencies called Special Drawing Rights (SDR). The IMF will make the change on October 1. While the implications for the Federal Reserve Note, currently the U.S. dollar, as the world’s primary reserve currency may be profound over time and the importance of this even should not be overlooked, the impact is unlikely to happen overnight. Full Story
It’s a different situation from 2008. In 2008, hedge funds were forced to liquidate gold to meet margin calls caused by the OTC derivatives crisis. Now, a loss of confidence theme is brewing, with the focus on central banks and government treasury bonds. That means that institutional money managers are much more likely to buy gold in a market meltdown event. Gold stocks can decline initially if the stock market crashes, but they will soon follow gold, and move higher. Full Story
German mega bank Deutsche Bank is in serious trouble. The International Monetary Fund (IMF) has publicly called it one of the greatest threats to the global financial system. The Russian government (no doubt crying crocodile tears) is investigating its role in rampant money laundering. And the U.S. government has just announced a fine related to its behavior before the 2008 crisis that is more than the bank’s current market valuation. Full Story
Well! That was a fight for the history books. The first round of battles between the two presidential candidates has come and gone and now it's time for the pundits, including myself, to throw in their two cents and analyze what in the world just happened. First off, it was evident that right from the beginning, Donald Trump was much more confident, much more in control, and much more of a demanding presence than Hillary Clinton, who, at times, looked very uncomfortable and on the verge of seething rage as Mr Trump steamrolled her in the first half of the debate. Full Story
By: Steve Saville, The Speculative Investor - 27 September, 2016
If you are asking the above question then your understanding of economics is sadly lacking or you are trying to mislead. The Fed will never be completely out of monetary ammunition, because there is no limit to how much new money the central bank can create. The Fed will therefore always be capable of implementing some form of what Keynesians call stimulus. However, the so-called stimulus cannot possibly help the economy. Full Story
Last week I attended the Denver Gold Forum along with three other U.S. Global Investors representatives, including our resident precious metals expert Ralph Aldis. I was happy to see sentiment for gold way up compared to last year’s convention, as was turnout. I was also pleased to see Franco-Nevada, Silver Wheaton and Royal Gold in attendance, all of which I’ve written extensively about. Full Story
Calling Wall Street’s banks stupid and dangerous is like calling the sun “big and warm.” It’s a clear understatement of an obvious fact. The same goes for calling Japan and China economically clueless. Their actions pretty much guarantee that they’ll ultimately enter some sort of death spiral. Germany, meanwhile, is many things, but clueless and stupid aren’t normally on the list. So why is that country’s biggest bank causing nightmares for global policy makers and investors? Full Story
It’s early Monday morning, on what could not only be an historically bad week for global financial markets, but the “beginning of the end” of the manipulated worldwide perception that “everything’s OK.” Most of the world’s 7.4 billion denizens know this already, having watched their savings, currencies, standards of living, and political and/or social stability decline substantially since the 2008 financial crisis. Which also goes for the majority of Westerners, I might add. However, Western “intervention operatives” – like the PPT, ESF, Fed, and gold Cartel – have been more successful at manipulating markets to defer such perception. Full Story
According to the average estimate in a survey of 16 participants at the Denver Gold Forum this week, gold prices will reach $1,385.63 an ounce by year end, reports Bloomberg. This forecast is 4.1 percent higher than Wednesday’s closing futures prices. As seen in the chart below, investors poured $249 million into gold-backed ETFs over the last week, the article continues. This has helped keep holdings near a three-year high. Full Story
Nick Barisheff of Bullion Management Group (BMG) notes that most of the above ground silver stockpiles were sold before the year 2000. Only 20% of silver is the byproduct of pure silver mines, the remaining 80% is derived from base metal production, such as lead. Head of the Trends Research Institute, Gerald Celente returns with comments on the recent bombings in NY and NJ. Once gold closes firmly above $1,400 per ounce, a new bull market will be underway, according to the Trends Research Institute. Full Story
Few analysts noted it, but the $USD actually staged its second strongest day of the year the Friday before last. The only other day in which the $USD rallied more was on the day of BREXIT, a black swan event that featured EXTREME currency volatility. This move tells us something BIG is afoot “behind the scenes” in the financial system. I believe that something is a banking crisis in the EU. The clear signal is coming from Deutsche Bank (DB). Full Story
From the long-term point of view, not much changed despite a $30 rally. Gold is still consolidating after a sharp rally earlier this year and it’s quite likely to move much lower as this year’s entire rally was simply a correction to the 38.2% Fibonacci retracement level (based on the 2011 – 2015 decline). Please note that gold didn’t rally above the declining blue resistance line, so the medium-term trend remains down also from this perspective. Full Story
Interest rates are zero (ZIRP) now, at least for some people – right? If you are rich and don’t need money, they are zero. And if you have money in the bank they are also zero, and will likely be negative (NIRP) if trends in Europe are any indication, as central authorities continue attempting to force money into the markets / economy. With these policies, you would think the economy would be doing better, as who in their right mind would pay to keep money on deposit with risky banks, at least if one understand that’s what you are doing. Full Story
The Bank of Japan gave us a glimpse as to just how far down the rabbit hole we may have to follow global policy makers as we try to make sense of ever more complex and shall we say, innovative ‘tools’ being used in the effort to engineer individual economies and asset markets within the global financial system. BoJ announced it would conduct “JGB purchase operations” in order to “prevent the yield curve from deviating substantially from the current levels”. Full Story
The London Bullion Management Association (LBMA) is a London-based, globally active, trade association for “the promotion and regulation of commerce relating to the London Bullion Market”. The “London Bullion Market” here collectively refers to the London Gold Market and the London Silver Market. The remit of the LBMA has very recently also been extended to cover the London Platinum and Palladium Market (LPPM). Full Story
Sometimes I wonder if I'm ever going to run out of new things to say about the economy. Nothing interesting has happened in a long time. Our liquidity-drunk “markets” remain over-priced due to the chronic intervention of the global central banking cartel, which has demonstrated over and over again that it won't tolerate even the slightest drop in asset prices. Those familiar with my writing know I put the word “markets” in quotes because we no longer have a financial system where legitimate price discovery is a regular -- or even recognizable -- feature. Full Story
As the tension mounts for the upcoming presidential debate I suggest we keep one fact foremost in mind. The two candidates are, in truth, and at best, fools. They believe, as do the voters evidently, that they can run other people’s lives, and for that reason want to tower over the lives and livelihoods of some 320 million Americans. Full Story
The trading day just ended, on what may be the penultimate week of “normalcy” for generations to come. Frankly, I have never been more scared, as the certainty of my views has never been more powerful. Which are, that nothing – not Central banks, governments, nor any “supreme manipulative power” – will be able to stop the unstoppable tsunami of political, economic, and monetary reality that has already engulfed large swaths of the “emerging” world; and currently, is heading for the “developed” world full bore, like a runaway train down an icy mountain, loaded with nuclear explosives. Full Story
By: Jordan Roy-Byrne, CMT, MFTA - 25 September, 2016
There were some hopes that a non-move by the Fed would end the current correction in precious metals and spark a move to new highs. Unfortunately, the Federal Reserve cannot override the supply and demand component of the market. Gold and gold stocks popped higher but less than two days later the sector (and specifically the miners) has given those gains back. That tells us plenty of sellers remain and this sector needs more time and perhaps lower prices before this correction ends. Full Story
By: Steve St. Angelo, SRSrocco Report - 25 September, 2016
It seems as if the tide has changed as the U.S. imported a record amount of gold from Switzerland in July. Normally, the flow of gold from the United States has been heading toward Switzerland. For example, when the U.S. exported a record 691 metric tons (mt) of gold in 2013, Switzerland received 284 mt, which accounted for 41% of the total. Compare that to the paltry 3 metric tons of gold imported from Switzerland that very same year. Full Story
Stocks are seeing great strength now after the Fed meeting and decision to keep rates on hold, as expected. There is just no reason to hike rates until after the elections, meaning December is the earliest possible rate hike in my view. I was looking for the typical fall weak/consolidating market but it seems we are going to rally into the elections so I’m trying to take full advantage of it. Full Story
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