Gold continues to move higher due to trouble in the Fed Repo and U.S. Treasury Market. In the first hour of business today, the Fed has already injected $57 billion in the Repo Market. While the Fed’s Repo Market injections did not spike at during the last few days of 2019, as many analysts forecasted, there’s still BIG TROUBLE ahead. Full Story
The year ahead promises to be an eventful one. It will, of course, be dominated by political headlines leading up to the 2020 election. It could also be a big breakout year for precious metals.
In the second part of Money Metals' 2020 Outlook, we’ll drill down on the fundamental and technical setup for gold and silver…
However, in this first part, we’ll set the stage by digging into the macro forces at play in the economy, monetary policy, politics, and geopolitics. Full Story
- I predicted gold would bottom in mid-November and it did. Please click here now.
- A lot of amateur gold investors have missed this rally. That’s partly because they thought the “smart money” was shorting a lot of gold on the COMEX.
- What they probably overlooked was the possibility that the smart money has been buying the miners and physical metal while shorting “paper gold” on the COMEX. That’s been a magnificent trade and I’m predicting it will become even more profitable in the years ahead! Full Story
By: Avi Gilburt, Elliott Wave Trader - 31 December, 2019
As a student of market history, I always find it interesting, and even sometimes quite comical, how certain fallacies about markets are continually propagated by investors and analysts alike. Throughout my career in writing about metals, I have tried to bring many of these to light, and explain why so many of the fallacies should be ignored.
The latest in the string of fallacies relates to the Commitment of Traders report (COT). The common argument suggests that as long as the commercial traders are shorting gold heavily, then gold cannot rally. And, much has been made of late regarding the heavy commercial short positions pointing to a major drop in the gold market. Yet, history suggests otherwise. Full Story
By: Jason Burack, Wall St for Main St - 31 December, 2019
Jason Burack interviewed returning guest, Cornell organic chemistry professor, Libertarian and fan of the Austrian School Economics and value investing, Dave Collum https://twitter.com/DavidBCollum, about his 2019 year review and 2020 preview report.
Each year, Dave takes an enormous amount of time compiling articles, research and analysis for his extensive "Year in Review" which he has now been writing for over a decade for free.
David thinks the Federal Reserve and other central bankers will keep making more mistakes (he calls Repo Madness QE) and that it will accelerate global social unrest. Full Story
By: Keith Weiner, Monetary Metals - 30 December, 2019
We have spilled barrels of electronic ink, making the point that central banks are wreaking havoc. They hurt the poor, the middle class, and the rich. They hurt the wage earners, the business owners, the investors (aka the “rentiers”), and the pensioners. They have variously inflicted rising interest rates, too-high rates, falling rates, and too-low rates. They have imposed perverse incentives to destroy capital and consume wealth.
Those discussions focused on the specific injuries, their causes and effects. An analogy is studying the damage done to the body if it is cut by a sharp blade, bludgeoned by a blunt instrument, burned by a hot flame, or poisoned by a toxic chemical. One can study these things in excruciating detail, without considering one thing. Full Story
Why not keep making it easier for them than for you? You should take care of the rich and make sure they continue to get better tax rates in the areas where they make most of their wealth than in the areas where you make most of yours. Why would you think the poor rich should have to pay as much as you do? Full Story
By: Gary Christenson, Deviant Investor - 30 December, 2019
The political and financial elite want increasing debt, more currency in circulation and price inflation. The last 100 years show that dollar devaluation, debt creation, rising stock prices and consumer price inflation are standard procedure.
The political and financial elite hate deflation. Markets crash, unemployment rises, and bankruptcies sweep the country. Nobody wants a repeat of the 1930s. Central bankers will do “whatever it takes” to avoid deflation. Expect QE4ever. Global debt exceeds $250 trillion. Total US credit market debt is $75 trillion. Debt requires interest payments, but it defaults when it grows too large, or it’s repaid with hyperinflated currency units.
Excessive debt requires zero or negative interest rates to afford the interest costs. Negative rates make no sense. Don’t expect such nonsense to persist for long.
Problem: Too much debt creates deflation when it defaults. High interest rates hasten defaults because the interest can’t be paid, but low interest rates enable more debt, which will eventually default. Oops! Full Story
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