Peter Spina, President and Founder of GoldSeek.com stated: “The success of GoldSeek.com has been built from our highly affluent and educated readership base seeking a more comprehensive review on gold and finance. Gold investors have been coming to GoldSeek.com for many years, looking for the full story on gold and seeking financial truth.”
Peter added, “I would like to thank all of our devoted team for making the site successful along with our loyal audience and site sponsors. We look forward to delivering the latest news and information to our visitors following this secular bull market in gold for many more years to come.” Full Story
The one thing the new chairman should recognize is that the big commercial shorts in COMEX silver futures have never collectively bought back shorts to the upside and at a loss. Never is a very long time, but COT data confirm this clearly. The big shorts have never taken a loss on their short position. I would submit that such a trading record would only be possible in a rigged market. This one glaring fact, by itself, explains why there has been a decades-long silver price manipulation. The only question is whether the COMEX commercial crooks will rig yet another sell-off, enabling them to keep their perfect trading record intact. Full Story
Stock market indexes are currently at record or near record highs, even as the chances for recession within the next 1-2 years seem to be rising. So how great would the losses be from these record heights, if the business cycle continues and we get another round of recession and bear market? Full Story
Regardless of the Fed Funds rate policy decision by the FOMC today, the economy is spinning down the drain. Lower rates won’t help stimulate much economic activity. Maybe it will arouse a little more financial engineering activity on Wall Street and it might give a temporary boost to mortgage refinancings. But the economic “recovery” of the last 8 years has been an illusion based on massive money printing and credit creation. And credit creation is de facto money printing until the point at which the debt needs to be repaid. Unfortunately, the system is at the point at debt saturation. That’s why the economy is contracting despite the Fed’s best efforts to create what it incorrectly references as “inflation.” Full Story
The widespread profound and recognized global recession, complete with numerous icon corporate failures, will lead the US Federal Reserve to return to unlimited Quantitative Easing with a Zero Percent chaser. The Jackass calls it a return to Infinite QE Forever at the Zero Bound. Not only is the double step of return to QE with a sequence of interest rate cuts urgently necessary, but the financial markets are demanding it. In fact, they are holding the USFed hostage, as the venerable august body is backed into a policy corner.
This time seems different. For ten years, the USFed has relied upon coordinated policy with the Euro Central Bank, having used all the most extreme measures, yet has a systemic failure on its hands. Witness extreme monetary policy failure. The systemic failure is both financial and economic. The bond purchase program wrecked the bond market by driving away legitimate investors, while the ultra-low interest rates wrecked the economy by distorting asset allocation. The central bank is backed into a corner like never before. Their tightening procedure over the last three years is a monumental dismal failure. They cannot return to normalcy. In fact, quite the opposite. They must resort to permanent hyper monetary inflation. They must return to Infinite QE Forever. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 31 July, 2019
Instead, Trump is gambling with the currency.
One outcome is a gradual race to the bottom, like a swirling drain. The other is for America’s trading partners to punt the dollar and go with a basket of currencies like Special Drawing Rights (SDRs), possibly backed by gold.
The high-dollar road leads to America being great again, the low-dollar road risks the US falling off its pedestal and becoming a regional power, against a rising China that appears to hold all the cards. Trump is well on his way down the low road, in more ways than one. Full Story
First, a bank’s commodities trading department takes metals investors for a ride like unwitting victims in the back of Jeffrey Epstein’s “Lolita Express.”
Now federal prosecutors have extended the same sort of cozy non-prosecution agreement to shield the bank itself from a criminal indictment.
Federal prosecutors signed a non-prosecution agreement in June with Merrill Lynch Commodities, Inc. (MLCI) and Bank of America (Merrill’s parent company) for rigging the precious metals markets. Full Story
This, folks, is a microcosm of socialism. Socialism inherits capital assets from a previous system, and consumes it. During the consumption period run by the Chavezes, the people hail it and say it is “working”. But when the capital assets are consumed, then the Maduros take the blame. The people think if only they could somehow get another miracle worker like Chavez.
But there was no miracle, only the consumption of Early’s car. Times a hundred million. Everyone is doing the same thing.
Socialism is systematic consumption of capital, wholesale destruction across the entire economy. Full Story
By: Chris Waltzek Ph.D., GoldSeek Radio - 28 July, 2019
- This is not a time for financial complacency notes, amid mountains of national debt on a global basis and central banking intervention on an epic scale. - The scope and scale of the impending financial deluge will be incomparable to anything in history. - The entire system of over 7 billion individuals loses confidence simultaneously in the fiat money system. - While the precise time when the system will implode, but the outcome could rival the fallout of the Civil War, the Great Depression and WW I and WW II. Full Story
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