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Weekly Archive

By: David Smith - 31 January, 2020

In late December 2019, a bill from the German finance ministry – which had passed the lower legislative house – proposed lowering the "anonymous purchase limit" for precious metals from €10,000 to €2,000 (about $2,200), a reduction of 80%.

At the current price, one could buy less than one and one-half troy ounces of gold without activating customer ID paperwork, and for businesses – a criminal background check!

This is an additional decline from the €15,000 mandated just two years ago. Set to become law in early 2020, the effect was immediate, as long lines outside a coin shop in Cologne show. Full Story

By: Steve St. Angelo, SRSrocco Report - 31 January, 2020

Furthermore, most precious metals analysts do not explain how the cost to produce gold and silver is directly tied to their current market value and ratio. In the video, I discuss that Barrick Gold consumes 52 times more diesel (gasoline and fuel oil) to produce an ounce of gold than Pan American Silver does to supply an ounce of silver.
Full Story

By: Robert Lambourne - 31 January, 2020

Since May 2019 the Bank for International Settlements, which represents most central banks, has increased its use of gold swaps and other gold-related derivatives from an estimated 78 tonnes to an estimated 313 tonnes as of December 2019.

The bank's total gold swaps and derivatives stood at 250 tonnes in November 2019. Full Story

By: Dave Kranzler, Investement Research Dynamic's Mining Stock Journal - 31 January, 2020

The total US market valuation at $33.9 trillion is 157.4% of the last reported GDP. It’s the highest market valuation ever. The more the policy-makers try to pump and jawbone the market higher, the worse the consequences will be on the downside when the rug is pulled out from under stocks. The trigger could be anything. Eventually the market will acknowledge and accept the fact that the economy is getting worse and earnings will continue to decline. But fundamental reality is just one of many possible catalysts that will cause a painful drop in the stock market. Full Story

By: Chris Powell, GATA - 30 January, 2020

Our friend Paul Mylchreest, now an analyst for financial research firm Hardman & Co. in London, demolishes the London Bullion Market Association with an "open letter" released today, blaming the group's trading and reporting systems for suppressing the offtake of gold to about 5 percent of what it would be otherwise. These systems, Mylchreest suggests, benefit primarily the LBMA's major members, bullion banks that short the metal, as well as central banks.

LBMA operations, Mylchreest writes, contrive a price for gold credit and derivatives rather than for the metal itself, and as a result the nominal price of gold has been declining for years even as fundamental factors in favor of gold have been strengthening. Full Story

By: Gary Tanashian - 30 January, 2020

The bottom line is as usual; calm the noise, see the noise makers for what they are * and keep your head screwed on straight. That means checking it (your head, not necessarily the gold price :-)) every day to make sure the brain inside it is not being swayed by sensation as opposed to reality. This applies throughout the financial markets. Full Story

By: Gary Christenson - 29 January, 2020

The banking cartel creates dollars via fractional reserve banking and outright monetization. They borrow or print billions of dollars into existence every day. Their counterfeiting is legal.

Don’t believe paper gold guarantees are real. It could represent gold bars but might not. What happens when owners of paper gold demand delivery of real gold? Many people will be angry when the paper gold scam implodes. Full Story

By: Craig Hemke - 29 January, 2020

If you understand these simple facts, then you'll begin to understand why gold rallied in 2019 and why it will continue to rally in 2020. Yes, geo political and pandemic risks have had an impact on a daily basis, but the LONG-TERM trend is being driven by loose central bank policies, currency devaluation, and extraordinarily low-stated and inflation-adjusted interest rates.

And as long as these policies remain in place, expect gold to trend higher. Full Story

By: Clint Siegner, Money Metals - 29 January, 2020

Physical palladium and rhodium markets are buzzing. Reported prices for both metals leapt higher in recent days.

The story behind palladium’s move is that a physical shortage has developed in London. Traders sold metal they didn’t physically possess. Now they are being asked to deliver the bars and they are scrambling to secure the metal needed, bidding prices higher. Full Story

By: Peter Schiff, President and CEO Euro Pacific Capital - 28 January, 2020

Unfortunately, I think a worst-case scenario may be the most likely one. And it goes something like this: Disarray in the Democrat Party allows for the nomination of Bernie Sanders, who loses to Trump in the general election. But then the danger arises. Trump and the Republicans could not have taken credit more forcefully for the current economy. When the current bubble pops during Trump's second term, there will be no way for them to avoid the blame. The more we cling to the ridiculous idea that the current economy is booming because of Trump, the more we create the conditions for Bernie Sanders and AOC to make us the next Venezuela. Full Story

By: Dave Kranzler - 28 January, 2020

The mortgage regulators are stretching the removal of mortgage qualifications to the limit in an effort to keep the housing party going. The Consumer Financial Protection Bureau (CPFB) is recommending the removal of the DTI as a factor in qualified mortgage underwriting. Ironically, tighter mortgage finance regulations were the purpose for the formation of the CPFB in the first place. Wash, rinse, repeat. I have no doubt the mortgage and housing market is headed for another catastrophe. Full Story

By: Rob Kirby - 28 January, 2020

1995 is the year that gold leasing “TOOK-OFF GLOBALLY”. We know this due to the historical record of communication between Frank Veneroso and Terry Smeeton [from the Bank of England]; I [Frank Veneroso] started out on this crazy voyage with a statement that was made by a man from the Bank of England- --Mr. Terry Smeeton---who was in charge of the gold operations of the Bank of England. On something like November 21st or 22nd of 1995 at the 5th Annual Banking Conference in the city of London, he addressed the issue of gold lending. He gave some statistics. He basically said that gold lending had roughly doubled over the last year and a half. Precisely, what he said was that gold loans more than doubled and gold swaps increased by more than 50%. Full Story

By: John Mauldin, Thoughts from the Frontline - 27 January, 2020

Hedonic Fantasies

Meaningless Averages

Desperate Ideas

Inflation May Not Be the Most Important Statistic

Philadelphia, Dallas, and New York
Full Story

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