“This time it’s different.” That quote is from Sir John Templeton, a legendary investor who is considered the father of the modern mutual fund industry. For most of the month of December, I’ve been hearing ads from mortgage brokers who are promoting the idea of refinancing your house in order to take care of holiday bills. It reminded of the early 2000’s when then Fed Chairman, Alan Greenspan, was urging Americans to use their house as “an ATM” by taking on home equity loans as a means of drawing out cash against home equity for consumption spending. Full Story
The gold miners’ stocks have huge upside potential in 2018, likely the best among stock-market sectors. They really lagged gold last year, so a major mean-reversion catch-up rally is coming. The gold miners are universally ignored and deeply undervalued relative to the metal which drives their profits. And gold itself is likely to power dramatically higher this year as euphoric record-high stock markets inevitably start to falter. Full Story
Bix Weir of RoadtoRoot-A returns with comments on cryptocurrencies and silver. Max Keiser of the Keiser Report on RT expects a global Central Bank to break ranks this year and plow billions in depreciating fiat money into Bitcoin and related Altcoins. Gold could soon be retro-Bitcoin, as young investors use a mere Bitcoin dime to procure over one ounce of the yellow metal, similar to the vinyl LP record, hobby. Full Story
This morning I noted that I did not appreciate seeing Jeremy Grantham’s note dismissed even in the slightest way and without rancor by a Biiwii author. His intro was “Here we go with the “melt-up” meme again.”, which I felt was not appropriate for our purposes, coming as it did from a writer who was cautionary all through 2017. Full Story
Enjoy the good times while you can because when the economy BLOWS UP this next time, there is no plan B. Sure, we could see massive monetary printing by Central Banks to continue the madness a bit longer after the market crashes, but this won’t be a long-term solution. Rather, the U.S. and global economies will contract to a level we have never experienced before. We are most certainly in unchartered territory. Full Story
While I am unable to answer the question in the title of this update definitively, I will show you what the market has to do in order to answer the question in the affirmative. But, first I want to reflect on 2017. We approached 2017 with high expectations that the market would provide us with a strong 3rd wave break out off the 2015 lows. In fact, we caught the lows at the end of 2016, and the market rallied in what seemed to be a 5 wave structure off the December 2016 lows. That put us on high alert that we have a potential i-ii, 1-2 setting up off the 2015 lows. Full Story
I’m sure there will be some shocking events in 2018, but I have no idea what they will be. There are too many wildcards in the mix, with one big one taking center stage: States. The civilized world, such as it was, took a nosedive after the Sarajevo assassinations in 1914 ignited the political tinderbox in Europe. To pay for the massive slaughter that followed, states abandoned gold and turned to inflationary finance and borrowing, in addition to heavy taxation. Full Story
There is one redeeming benefit to writing "forecasts": they invariably and inevitably reduce you to a quivering mass of humility as the hubris born of luck and circumstance is replaced with the reality of randomness. I have been reading research reports for years and the most useful portions are those where an analyst goes back and reviews his/her reasons for owning something, and then a year later explains why it was flawed. Full Story
This might seem a frivolous question, while the dollar still retains its might, and is universally accepted in preference to other, less stable fiat currencies. However, it is becoming clear, at least to independent monetary observers, that in 2018 the dollar’s primacy will be challenged by the yuan as the pricing medium for energy and other key industrial commodities. After all, the dollar’s role as the legacy trade medium is no longer appropriate, given that China’s trade is now driving the global economy, not America’s. Full Story
Metals investors may have missed it given the gloomy sentiment that plagued markets for much of 2017, but gold just finished its best year since 2011. Perhaps in a year like the one just passed, 13% gains are simply not inspiring. U.S. stocks finished about 25% higher for the year, and crypto-currencies including Bitcoin left all other asset classes in the dust. Bitcoin gained roughly 1,400%. Full Story
Head of The Morgan Report, David Morgan rejoins the show with comments on Bitcoin, Altcoins and the PMs sector. Contrary to the mainstream opinion, BTC and Altcoins are here to stay; digital currency represents a decentralized alternative to antiquated fiat money. While the uninitiated complain about the energy consumption of BTC mining, the cognoscente understand that the hashing power is a key aspect of BTC's consensus based security. Full Story
The past few days I have been reminded of how important silver is to our world and how silver is the one asset the world needs in order to function to a high level. Actually, silver is necessary for our world to function at even the most basic level where power/energy/information is running through wires. Silver makes it possible. Full Story
Physical gold withdrawals from the vaults of the Shanghai Gold Exchange (SGE) totalled 189.1 tonnes during November 2017. These gold withdrawals are a suitable proxy for Chinese wholesale gold demand due to the fact that nearly all gold supply in the Chinese domestic gold market is traded through Shanghai's gold bourse, and all gold for the SGE contracts has to be stored in the Exchange's vaults. Full Story
Tonight I would like to start out by looking at the $CDNX, Canadian Venture Composite Index, which blasted higher last week and is following through this week. The reason this index is so important is because it not only has many junior precious metals stocks, but also many small cap energy related stocks as well as other speculative venture capital stocks from other sectors. Full Story
Summing up, even though it seems that this year’s daily rally was a big deal, it most likely isn’t. There is a good explanation for mining stocks upswing in the form of the tax-optimizing technique. In other words, miners didn’t really show strength this week and the outlook for gold price in January didn’t really improve. Full Story
If one is interested in picking up some numismatic coins that have the potential to carry some heavy premiums in the years to come 2017 could be one the years to add to your stack. Not all coins produced during 2017 will command high premiums in the future, and maybe not a single one will, but if one looks through the offerings at the US Mint, Perth Mint and Royal Canadian Mint I know there will be some diamonds in the rough that should be outstanding additions to any stack and come with the added bonus of being a very low mintage coin! Full Story
Join Mike Maloney for his latest report on what he expects for 2018. Bitcoin, stocks, gold, and silver are all covered in this in-depth look at today's financial climate...strap in because this is not going to be pretty - unless you are precious metals or crypto investor. Full Story
“The reason people buy bitcoin and cryptos is the same reason why people buy gold and silver. It’s an alternative to all the fiat currencies that are being printed into oblivion on this planet right now. And they eliminate the need for third party trust—you don’t have to trust somebody else with your bitcoin, you’ll only have to trust yourself. You don’t need to trust somebody else with your gold and silver, you have to trust yourself. So the reasons are the same.” Full Story
The paradoxical technical situation for oil that we highlighted in the last update has continued – and has gotten even more extreme. In that update we concluded that oil’s very bullish volume indicators pointed to its continuing to advance, despite COT and Hedgers charts and sentiment indicators showing extremes that would normally call for a reversal to the downside, and that is what has happened. The reason? – Iran – it looked like the United States and Israel, and possibly client state Saudi Arabia, were building up to an attack on Iran, but just in recent days we are seeing that things are taking a very different turn. Full Story
Casey and Macleod have defined what is necessary to correct our self-created fiscal and monetary insanity. It won’t happen. Expect massive “money printing,” stock and bond crashes, asset price levitations, inflation, and possibly hyperinflation. Timing: Coming soon to our world, probably in 2018. Full Story
Dr Warren Coats, former Chief of the SDR with the title Assistant Director of the Monetary and Financial Systems Department at the IMF penned an article on a return to the gold standard in 2013 – A Hard Anchor for the Dollar. Not a classic gold standard, but an “updated version” of a gold standard that would allow for entities like the IMF, World Bank and BIS to stay involved and be part of the global banking system. Full Story
The average investor trap is the same throughout whatever period you wish to review. Markets become overexuberant, see a correction, sentiment resets, and markets rally on to their next phase of overexuberance. It is really that simple. Yet, we overcomplicate matters by relying on economics and fundamentals, which have proven to be relatively useless at major market turning points. Full Story
Throughout gold rush and gold mining history, the discovery of a large gold nugget is a phenomenon which always causes excitement throughout a mining community as well as capturing the wider public's imagination. It has probably something to do with so much gold being found at the same time, often with relative ease. Full Story
As we begin a New Year, I want to share with you the five most popular Frank Talk posts of 2017. One common theme you’ll see in these posts is they all center on the topic of gold. Although we specialize in educating investors about gold and managing gold funds, it’s worth noting that our gold posts garnered more interest than our bitcoin and blockchain posts in this year of cryptocurrency craze. Full Story
With this evening’s robust extension of the rally begun from 1238.30 three weeks ago, buyers have finally made February Gold’s chart look interesting — encouraging, even. The move earlier in the day through the 1314.00 midpoint resistance, coupled with the so-far slight progress tonight above September’s 1321.00 ‘external’ peak, has put the 1389.60 target of the pattern in play. It would become a strong odds-on bet to be reached if the futures are able to close above the red line for two consecutive days or to trade above 1330.00 intraday. Full Story
There were very few sellers left in January 2016 when the devastating “forever bear” was about to end. Six months later and a 150% rebound in the large caps and 200% rise in the juniors (GDXJ) provided sellers an opportunity. They drove the miners and juniors down by 40% to 45% in less than five months. However, both GDX and GDXJ have been able to hold above that low multiple times. GDX has held $21 four times! GDXJ has held $29.50 twice in solid fashion. Full Story
The precious metals sector is on major buy signal. The cycle is up, suggesting that the multimonth correction is now complete. COT data is supportive for overall higher metal prices. We are holding gold-related ETFs for long-term gain. Full Story
The world’s most awesome asset is taking the world gold community into the new year with grand style. Gold has stunned most analysts and roared to my $1310 target price without missing a heartbeat! The bull wedge pattern is both majestic and powerful. The ultimate price target of this pattern is a minimum price of $1350 and arguably as high as $1490. When “QE to Infinity” and the death of the American economy was accepted as “the new normal” in both the gold and mainstream communities, I argued vehemently against that view. Full Story
The total amount of subprime auto loans outstanding is nearly $300 billion. This number is from the NY Fed. I would argue that, in reality, it’s well over $300 billion. If you add to that the amount of subprime credit card debt outstanding, the total amount of “consumer” subprime debt is in excess of the amount of subprime mortgage debt ($650 billion) at the peak of the mid-2000’s credit bubble. This is not going to end well. In fact, I suspect the eventual credit implosion will be much worse than what occurred in 2008. Full Story
In the final week of the year, the Bloomberg survey of analysts and traders showed the majority of respondents are bullish on the gold price for a third straight week. The yellow metal will end 2017 on a strong note closing out the year with a 13.09 percent gain for spot prices, while the U.S. dollar will see its worst year in more than a decade. Silver was the best performing metal for the week, up 3.33 percent as it typically is more volatile than gold. Full Story
The free lunch is coming from … the savings of the next generation. They are earning income and depositing it in the banking system. It’s their deposits which are lent at dirt-cheap rates to the golf-playing, stairway-riding senior. Their savings is being consumed, replaced with a note that says the senior owes them $500,000. Full Story
Put simply, in June 2017, the most important Central Bank in the world gave up any pretense that it understands inflation... right around the same time that the second and third most important Central Banks announce they would continue emergency levels of monetary easing despite the fact their respective economies were stable and growing. Full Story
With such a solid end to 2017, it prompts the question what we might expect of gold in 2018. The most immediate question is whether or not it will pick up where it left off 2017 and continue its climb into the New Year, or fizzle and spend the year going sideways or worse, down. I have refrained from the perennial turn of the year prediction sweepstakes for a number years, but I will venture out on the limb this year to say a price in the mid-$1500s looks achievable in 2018. Full Story
Bitcoin’s crazy shenanigans are making the news media’s attempts to keep up with them seem pathetic. Bloomberg’s latest update, from four hours ago, has trumpeted the headline Bitcoin Starts a New Year by Tumbling, First Time Since 2015. In actual fact, after trading moderately lower on the opening bar of 2018, one popular bitcoin vehicle, $BRTI, is currently up $263, at 13,849. Ordinarily Rick’s Picks would suggest using a ‘mechanical’ entry to short the little sonofabitch if the rally hits $14,277, using a stop-loss at 16,477. Full Story
Happy New year. Spectiv CEO Dylan Senter and colleague Nick make their show début appearances. Spectiv is at the cutting edge of the 3D / Virtual Reality (VR) phenomenon, the future of YouTube video and gaming. VR is considered by many technologists as a key sector of the next 10 years. Bill Murphy of GATA.org, returns to the show with an upbeat outlook on the PMs sector for the new year. Gold and silver remain the most overlooked and undervalued asset class, due in no small part to the gold cartel's machinations. Full Story
In addition to popping champagne corks and black-eyed peas (at least in the South) on New Year’s Day, year-end brings something else for economists and portfolio managers: annual forecasts. People want to know what the coming year will bring. I would like to know, too. But since I’m on the other side of your monitor, I must give you my own forecast. Caveat emptor applies. Full Story
We have seen an unusually steady uptrend in copper this month, that has resulted in it appreciating by about 10%, which might not sound like much, but makes a big difference if you are a producer with fixed costs. What is remarkable about this uptrend is not only that it came hard on the heels of a high volume smackdown in the early days of the month that at the time looked bearish, but that we have seen 16 days trading days in a row of higher closes as of the close of trading on Thursday, as can be seen on the 3-month chart for copper shown below. Full Story
This video provides a comprehensive examination of the expected price performance of the stock, energy, precious metals and currency markets in 2018. Full Story
While silver investors continue to be discouraged about the low price, the market has experienced a fundamental change that needs to be understood. Ever since governments removed silver from official coinage, over 50 years ago, the market has been supplemented by several billion ounces of silver. The majority of that supply has been depleted. Full Story
The Morgan Report is all about YOU and how you can build and preserve Wealth for generations to come. We know it can sometimes seem a daunting task to protect your assets and preserve or grow your wealth. Over 15 years ago, a small group of us started The Morgan Report and formed an exclusive membership organization to promote personal freedom, an honest money system, free market wealth accumulation and asset protection. Full Story
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