I went on to claim that JPMorgan owned a total of 600 million oz of that silver, including just over 100 million oz in its COMEX warehouse and 500 million in unverified holdings. In essence, I was claiming that JPMorgan held either all of the world’s unverified silver inventories or that there might be another 500 million oz out there that JPM didn’t own. I know this is a pretty outrageous claim, but I study this stuff closely and it is my firm conclusion that JPMorgan holds between 30% to 40% of all the 1000 oz bars in the world. Most outrageous of all, of course, is that JPMorgan bought all this silver over the past six years as it depressed the price by virtue of it also being the largest paper short seller on the COMEX.
When I wrote last week’s article, I knew full well that the LBMA was about to publish, for the first time ever, the quantities of gold and silver bullion held in London. To be frank, one reason I wrote the inventory article was to preempt the LBMA... Full Story
2,500 years ago, the Greek philosopher Heraclitus wisely espoused, "the only thing that is constant is change." Which, in the world of investing, could not be truer - particularly today, as the pace of technological innovation accelerates at an unprecedented pace. The problem is, that while technology is generally speaking a good thing, not all technology is utilized for favorable purposes; in many cases, in stark contrast to the best interest of the world's "99%." To that end, the foundation of today's technologically exploding world - its monetary system - is still based on an archaic, fraudulent fiat Ponzi scheme that is rotting the world's finances and economy from within, for the benefit of a handful of politicians, bankers, lobbyists and billionaires. Full Story
As you know, we’ve been tracking the sub-prime auto-loan industry closely.
Our view is that this industry represents the worst of the worst excesses of our current credit bubble, much as the subprime mortgage industry represented the worst of the worst in excess for the Housing Bubble. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 3 August, 2017
The subject of gold’s confiscation has come onto our screens again, but this time, being described as a “Myth” in the future. This thought comes from Canada, a favorite place for U.S. citizens to store their gold in the hopes that it will be outside the reach of the U.S. Federal Reserve.
We respond to the article that described it as a myth, because we are firmly of the opinion that as we move from dollar hegemony to a multi currency, world currencies will find themselves competing against each other [race to the bottom] and increase the prospects for the confiscation of gold held in storage companies and by dealers as well as making such dealing illegal again. Full Story
What could possibly go wrong … except that which has already gone spectacularly wrong before? It all happens by our allowance and our creation. We learn nothing from each flash crash but continue to allow the bots to run the show, recent investigations not withstanding, since previous investigations have not resulted in much jail time and certainly not in any important revisions to the robomarket. So, we will get another chance to learn it again soon. History is rife with repeated educational opportunities. Full Story
As I wrote in December's "why Bitcoin will make gold and silver go up," I (more than ever) believe the monetary disruption Bitcoin is capable of - potentially, NOW - could be so powerful, it will cause governments to refocus their manipulative efforts - from the "barbaric relics" gold and silver, to the "newfangled technology" Bitcoin. Which, at a time when Precious Metal supply is already historically low; whilst money printing is primed for another, potentially hyper-inflationary leg higher; may well hasten the end of an increasingly "unnecessary" gold Cartel. Full Story
Federal Reserve Makes It All Possible Trillions upon trillions of dollars have been promised that simply won’t exist... unless the Federal Reserve creates them out of nothing. The Fed’s unlimited power to expand the currency supply enables politicians to commit acts of fiscal malfeasance with political impunity. Full Story
By: Gary Christenson, The Deviant Investor - 2 August, 2017
In a better world we might expect:
- Individuals, corporations, and governments spend no more than their income. - “Honest” money is used by all, has intrinsic value, retains its purchasing power and is not counterfeited by individuals or bankers. - Governments and bankers support and encourage “honest” money. Full Story
By: Stewart Thomson, Graceland Updates - 2 August, 2017
Gold has rallied more than $60 per ounce in the last few weeks. In the short term a new catalyst is needed to continue the rally, but the big picture looks fabulous. Full Story
So, this past week, I read how "markets are virtually risk-free." Does that sound like reasonable advice? As in the case of the analyst quoted above, along with many of those quoted in the text of this article, when many begin to believe that the market simply cannot provide us with any sustained downside pricing, that is usually the point in time when the market proves otherwise. Full Story
The best performing precious metal for the week was palladium, up 4.29 percent on hedge fund managers increasing their bullish positioning on the metal as expectations of increased usage in automotive catalyst to curb pollution. China’s purchase of bullion bars in the first half of the year rose 51 percent, reports Bloomberg, setting gold up for a sixth monthly gain in seven. China gold demand rose 545.23 tons, including gold bars to 158.40 tons. And as global gold prices retreat, China purchased more bullion from Hong Kong in June. Full Story
Let’s start with this fact; fiat (paper) currencies die – often spectacularly. That is why precious metals may someday be needed for barter and trade. Anyone who thinks it is silly to worry about such a thing is putting blind faith in Federal Reserve Notes. The U.S. dollar is having a great run, no question. It will soon be 50 years since Nixon closed the gold window, thereby converting the dollar to a purely fiat currency. Five decades is longer than most purely fiat currencies survive. Full Story
People often say that bitcoin is like gold, or even say it is “digital gold”. They are just trying to cash in on gold’s good name. The problem of the bid is another key difference between bitcoin and gold. Gold is an extremely useful commodity. Bitcoin is not any kind of commodity at all. It does not have a real bid at all, only the ever-changing bid of the fickle speculator. Full Story
The Chinese Govt is greatly irritated by the requirement to use USDollars in payment for crude oil in the global market. The Beijing officials finally have some leverage in arranging for a major deal to pay for crude oil in RMB currency, their Yuan. The negotiations have been in progress for a couple months. The development is not covered well in the financial press, not even in the alternative media. It will happen, just a matter of time. Its effect will be far reaching and likely devastating. Full Story
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