By: Gary Christenson, Deviant Investor - 3 October, 2019
What Silence?
Have you heard loud warnings from Mainstream Media or from official government sources about the following huge problems? No! Official sources and the media are largely silent. They can’t/won’t discuss our serious problems and prefer the hopium strategy.
Gold and Debt: Asia has accumulated thousands of tons of gold. The U.S. has created over $22 trillion in federal government debt and $72 trillion in total debt per the St. Louis Federal Reserve. What happens when they devalue the dollar further, and gold prices go sky high? Full Story
A record $17 trillion in global debt now carries a negative yield, which is equivalent to about 20 percent of world GDP, according to a recent report by the Bank for International Settlements (BIS). The bank notes that the growing acceptance of negative yields has become “vaguely troubling.”
Just as troubling is the expanding level of global debt, which is now the highest it’s ever been in peacetime, according to Deutsche Bank’s recent analysis of 12 major economies. These dozen economies collectively have an average debt-to-GDP of 70 percent, the highest level in 150 years outside of a world war. Full Story
One day, The Banks will either voluntarily or involuntarily leave this business and prices will be allowed to find a true equilibrium between physical metal and fiat currency. In the meantime, you must understand that the greedy, criminal, COMEX market-making Banks will continue to fight us every step of the way...regardless of whether a few of their trading Monkeys are indicted/incarcerated. Full Story
The delinquency and default rate on consumer and corporate debt is rising. This creates funding gaps and cash flow shortfalls at banks. In a fractional banking system, banks only have to put up $1 of reserve for every $9 of money loaned. When the value of the loans declines because of non-performance, it requires capital – cash liquidity – to make up the shortfall in debt service payments received by the banks. In simple terms, the banks are staring at a systemic “margin call.” Full Story
The Great Recession never ended. I say that because the deep economic flaws that caused it were never corrected. All recovery efforts since merely clouded our eyes to the problems growing larger around us, even making them worse, and now we are going back into the belly of the Great Recession.
The recovery was all a prop, which is why I call it a fake recovery. In September, we entered the second part that I’ve long said would hit when the props were removed. (To be clear, I don’t mean predicted to happen in every year I’ve been writing on economics, but that I have said throughout those years would come when the Fed unwound its recovery efforts. Well, the Fed did, and we’re here!) Full Story
Gold and silver investors have been watching the Department of Justice investigation of criminal price rigging at JPMorgan Chase and other bullion banks carefully. Several crooked traders have pled guilty to “spoofing” the markets and more have been indicted.
The DOJ has even suggested the banks have been engaged in racketeering. Prosecutors may use RICO laws designed for taking down organized crime syndicates to prosecute these shady Wall Street firms. Full Story
Conviction in gold’s uptrend is strengthening, according to UBS’s Global Precious Metals Comment for the week. As Joni Teves writes, as gold gains further upward momentum, UBS believes other areas in the market can become more active and support the next leg higher. “Participation out of China, the private wealth community, and retail investors has scope to pick up ahead, granted the supportive macro narrative remains intact,” she continues. Bloomberg ads in another article this week, which due to insufficient exploration spending, gold reserves have depleted significantly. This alone looks to be enough supply-side impetus to perk up the yellow metal. Full Story
By: Keith Weiner, Monetary Metals - 30 September, 2019
For our final example, we will depart from houses and look at a gold mine. Mikey Miner finds an opportunity. A great big pile of old mine tailings is sitting on the ground on a 100-acre site. A century ago, with then-available technology, the miners extracted what gold they could. But their waste material still has several grams of gold per ton.
Mikey and his investors put 1,000 ounces of gold into the project to extract the gold from the tailings. Net of expenses, they end up with 2,000 ounces of gold... Full Story
By: Rick Ackerman, Rick's Picks - 30 September, 2019
On the evidence, only an idiot could doubt the party is over. And yet, U.S. stocks have been frolicking in record territory since early July, detached not only from such concerns, but from reality. In the meantime, trying to predict exactly when a decade of easy-money madness will end is a fool’s errand. Despite this, for most professional forecasters the challenge is too tempting to pass up. Gurus have technical tools that supposedly can help us put this nearly impossible feat within reach. In truth, we are no better at it than you and possess no special knowledge that would give us an edge. Like you, and considering the recessionary drift of the global economy, we regard the stock market at these levels as nothing short of terrifying. A few hundred dollars invested in put options from time to time is not likely to produce big profits, if any, but it can help one sleep a little easier. Full Story
Conspiracy theories are like crime novels. You can create an infinite number of them, and all they require is a plausible plot built from real facts with enough twists to keep them interesting. That’s why I don’t spend my time trying to discern if any of them are true — though some may be — but now I’m going to write one of my own. I find it completely plausible, fully in line with all the known facts and neither more likely nor less likely to be true than all the other conspiracy theories ever told. Full Story
Euro Pacific Capital's Peter Schiff said this week that the recent indictments of three more traders at JPMorganChase on charges of manipulating the monetary metals market "do not vindicate all the conspiracy theories alleging that there has been a concerted effort by big banks to artificially suppress the price of gold in order to keep the fiat monetary system going."
Of course the indictments don't vindicate "all" the "conspiracy theories" -- and who said they did? Full Story
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