By: Steve St. Angelo, SRSrocco Report - 29 July, 2020
Due to measures taking by the West Point Mint to protect workers from the virus, the production of gold and silver coins will be reduced over the next 12-18 months. By enacting these worker policy changes, the U.S. Mint will not be able to produce gold and silver bullion coins at the same time.
If the FT thinks the gold price is unpleasantly high now, what will the price be if the world ever realizes that most of the gold it thought it owned doesn't exist and never did? If the world ever finds out, it may fairly ask why the FT never reported it, though documentation of central bank gold price suppression policy has been delivered to the newspaper many times over the last 20 years without prompting the newspaper to put a single critical question to any central bank. Full Story
The documentation has been provided constantly to major financial news organizations but almost always ignored, being considered a national security issue.
Has CBS News ever put a critical question to a central bank? Has any mainstream financial news organization ever done that?
If mainstream financial news organizations ever attempted journalism in regard to the gold market, central bank policy based on deception would fail instantly. Full Story
Fedcoin could threaten private cryptocurrencies, increase inflation, and give government new powers over our financial transactions. Fedcoin will also speed up destruction of the fiat money system. Whatever gain fedcoin may bring to average Americans will come at terrible cost to liberty and prosperity. Full Story
I have worked as an economist in several positions at a central bank, ministry of finance and universities. Monetary arrangements have always been on my focus either as a policy practitioner or as a researcher.
While working at the Bank of Finland some of my colleagues called me a monetarist hawk or a hard line monetarist. I do not like naming and shaming but that description reflects quite well my thinking on monetary issues.
I am an old school monetarist in the sense that one should pay attention to the development of monetary aggregates and credit expansion. Full Story
Consider that Goldman's stock price is now below the high it struck in 2007, before the financial crisis began. That does not present a healthy picture of this company to me.
In the meantime, I think there is potential for Goldman Sachs to rally towards the 320-340 before depositors really need to become concerned about their cash being held by some of the largest banks in the world. Full Story
The BIS, which acts as a broker for many central banks, is estimated to have reduced its position in gold swaps and gold-related derivatives to 391 tonnes in June, down 21 tonnes from the 412 tonnes estimated at the end of May.
The bank's use of gold swaps and derivatives still shows a robust increase in the last 13 months, In May last year it was only 78 tonnes. Full Story
If there was only one chart I could use to make a case for the PM complex bull market it would have to be this quarterly line chart for gold. First note the beautiful and symmetrical H&S consolidation pattern we followed in real time and the reverse symmetry over the same area on the way down as shown by the blue arrows. On a quarterly time basis you can see gold is trading at new all time highs. The last thing to observe is the 2000 to 2011 bull market which made higher highs and higher lows on a quarterly basis. Full Story
Concerning Trump's odds in November, it's hard to see how he could lose. The canvassers are even more wrong than they were in the months prior to the 2016 election. Conservative pollster Karl Rove deserves special opprobrium because he should know better. He's been so busy splitting electoral hairs in blue-collar states like Pennsylvania, Ohio and Michigan that he's blind to the massive shift of working men and women away from the Democrats that began 50 years ago. Construction workers were fed up then with sending their sons to Vietnam to die while campus protestors dodged military service. They are even more fed up now, having witnessed the implosion of the nation's schools, the abysmal failure of a $20 trillion war on poverty, the heightening of racial tensions to a state of war, and now the abandonment of our biggest cities to sociopaths. Full Story
For the week just past, they reported receiving 2,486,000 troy ounces of gold -- and another gargantuan and new weekly record 44,248,000 troy ounces of silver -- and virtually all of that silver comes courtesy of JPMorgan.
Gold is heading for a seventh weekly gain, the longest stretch since 2011, while silver is poised for its biggest weekly advance in about four decades. Gold may reach the all-time high by early next week... Full Story
By: Steve St. Angelo, SRSrocco Report - 26 July, 2020
As the Fed and central banks continue to prop up the global economy with massive monetary stimulus, investors are just beginning to move into the precious metals to protect wealth. In the first seven months of the year, investors have already purchased three times the Gold Eagles that were sold during full-year 2019.
The first thing to bear in mind right now is that the housing market, like the stock market is rising in the calm space between two storms. Reopening released a flood of pent-up demand and a bunch of sellers hoping to catch that demand during the normally hot-selling months for real estate. Interest rates have never been lower. The unemployed are almost all being carried along by the government, as are their mortgages or rent payments by government-mandated forbearance. It’s a sweet spot that won’t stay sweet long. Full Story
The Market in a Dozen Charts Where Is the Breadth? The S&P 10 versus the S&P 490 If That Was a Bubble, What Is This? Extra Cash Enter Robin Hood Triggered Market Coping with COVID Full Story
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