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Weekly Archive

By: Marin Katusa and Doug Casey - 1 November, 2019

Doug Casey: You mentioned the Russians, and that’s interesting. Because just as the Canadians sold all of their gold pretty much at the bottom, the British sold all of their gold pretty much at the bottom, too. Now, who is buying gold today? What governments are buying gold?

Marin Katusa: China, Russia, you and me.
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By: Gary Christenson, The Deviant Investor - 30 October, 2019

Sixteen tons of coal is a huge quantity of concentrated fossil fuel energy.

Sixteen tons of gold results from a tremendous effort to mine and refine gold ore into 16,000 one-kilo bars, about 514,000 ounces. At $1,500 per ounce, it is worth $771 million.
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By: Keith Weiner, Monetary Metals - 30 October, 2019

When Friday began (Arizona time), bitcoin’s purchasing power was under 75 groceries (assuming a grocery unit is $100). By evening, speculators added 25 more groceries to the same unit of bitcoin. Think of it this way, if you forked over 75 groceries worth of farmland to buy a bitcoin Thursday night, the next speculator would fork over 100 groceries worth of tractors to buy it off you on Friday night. You could buy back your farm land, and consume a quarter of his tractor.

Viewed this way, bitcoin is not the anti-dollar. It’s just another chip in the dollar casino, which people can speculate on to increase their purchasing power. And by that, we mean give up their capital in the hopes that someone else will give up even more of theirs. Because, that’s what acute yield deprivation makes people do.

Congratulations to anyone who caught this wave. We do not blame the speculators, we blame the Fed for forcing us to play this game.
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By: Craig Hemke - 30 October, 2019

Wednesday afternoon brings the conclusion of The Fed's latest FOMC meeting, and the remainder of this week brings all sorts of U.S. economic data. All of this will impact gold and silver prices...but in which direction?

As you know, prices of both COMEX Digital Gold and COMEX Digital Silver hit their highs for 2019 back in early September, when CDG hit $1565 and CDS reached $19.75. They've since pulled back from these levels as longer-term and inflation-adjusted interest rates have risen slightly... Full Story

By: Clint Siegner, Money Metals - 29 October, 2019

Americans hated it when the Federal Reserve handed trillions of dollars to crooked Wall Street banks following the 2008 Financial Crisis. Politicians were confronted about the merits of central banking and bailouts.

For the first time in history, college students were chanting “End the Fed” at campaign rallies as Ron Paul took the central bank to task during his presidential campaigns.
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By: Robert Lambourne - 29 October, 2019

The Bank for International Settlements has just published its statement of account for September and it indicates that the bank continues to trade gold swaps. The BIS uses gold swaps and other gold derivatives to gain access to gold held by commercial banks. But recent swaps remain at much-reduced levels compared to the second half of 2018.

There is not enough information in the monthly reports to calculate the exact amount of swaps, but based on the information in the BIS statement of account for September, the bank's month-end gold swaps are estimated to be 128 tonnes. Full Story

By: Larry LaBorde - 29 October, 2019

This story is about one of the world’s largest gold hoards stored in one of the largest most secure vaults ever built. The French stored their 2,500 tons of gold in their secure underground vault in Paris. When the Germans began their offensive, the French started to remove its gold as a precaution. When the Maginot Line was breached and it was clear Paris would be overrun the remaining gold was rushed out of France. The gold traveled over thousands of miles in different directions by ship, train, truck, and airplane during WWII. So grab your Indiana Jones fedora and a globe so you can follow along.
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By: Rob Kirby - 29 October, 2019

Having long been a researcher of the gold and silver markets I have become familiar with the labels, “conspiracy theorist”, “gold bug”, “tin foil hat” and a host of others – less flattering. Over the years I have listened to a host mainstream economic commentators incredulously lament, “gold bugs actually believe that people meet – in rooms - and conspire to suppress the price of precious metals”. These same mainstream economic commentators frequently scoff, “if such activities were actually being undertaken, surely someone from “officialdom” would go rogue and out the perpetrators. They frequently cite the lack of such “outings” as concrete evidence that market manipulations on the part of or complicity with regulators as being “hearsay” or the product of delusionals.

Well ladies and gentlemen; conspiracy theorists are deluded no more. Full Story

By: Ted Butler - 28 October, 2019

The emergence of a big buyer in silver and gold on lower prices complicates but doesn’t eliminate the necessity of a resolution of the extreme positioning imbalances in COMEX gold and silver futures. It also heightens the chance of a different outcome from the usual flush out of the managed money traders on lower prices, particularly if these traders hold off from aggressively adding new short positions. No guarantees, of course, but the growth of the concentrated long positions of late in both silver and gold just might portend a different outcome than the sharp selloff called for by the still-large commercial short position. That said, I wouldn’t expect the big shorts to simply roll over and play dead. The big shorts will either succeed in manipulating prices lower or they won’t, but if they do succeed I still believe it will be the last such rigged selloff. Full Story

By: Frank Holmes, US Funds - 28 October, 2019

Sprott Inc. CEO Peter Grosskopf says this time gold’s rally is different because monetary policy has reached the point of being ineffectual. “Gold’s 2019 performance is quite different than prior rallies in that the gold market is no longer small and gold is no longer seen as a fringe asset.” Grosskopf added that “the Fed is in checkmate and gold is now a mandatory” portfolio holding. Australia & New Zealand Banking Group is also bullish on the yellow metal, saying that it could hit $1,700 an ounce in the next six months, citing expected changes in U.S. interest rates.
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By: David Haggith - 28 October, 2019

It’s no longer just me using terms like “Armageddon, crisis, devastating, chaos, Great Depression;” it’s leaders of the world’s most august and conservative central banks!

The big banking squeeze that began in September never went away. In fact, repo auctions last week looked worse than ever, in spite of the Fed’s launching of QE4ever. With a new $60 billion a month in permanent re-inflation of money supply pouring back into the economy now, the Fed still has found itself back to where it began in September with its repo operations becoming hugely oversubscribed, meaning it has more takers than what it is offering to give. Dealers submitted $52 billion in securities for two-week “loans” of new temporary money this past week against the Fed’s offer to do $35B worth. Full Story

By: Jordan Roy-Byrne CMT, MFTA - 28 October, 2019

We do need to keep an eye out for how the miners perform if the Fed indicates a pause is coming. Their performance over the weeks ahead could give us an early hint as to how much longer the correction will last.

In the meantime, we have been focusing on identifying and accumulating quality juniors with significant upside potential in 2020
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By: John Mauldin, Thoughts from the Frontline - 28 October, 2019

Hong Kong and the NBA

China’s Vision of Victory

Clashing Values

Houston, Philadelphia, and Dallas
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