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Weekly Archive

By: Rick Ackerman, Rick's Picks - 5 April, 2019

Two dozen other states would be close behind, seeking the same treatment. If they got it, that would be tantamount to hyperinflation. Before you assume that such a thing is even remotely possible, substitute the word ‘taxpayer’ for ‘Federal government,’ because that is who would pay for a bailout. That’s right: All of us working stiffs would presumably be on the hook…forever, forking over a big piece of our paychecks to cover the bills of down-and-outers in more than two dozen states. Yeah, sure. And here’s the kicker: If printing-press money were used instead of transfer payments, the hyperinflation that would instantly result would make checks mailed out to the Illinois pensioner worthless. That’s the ‘Catch 22’ of a pension system bailout by ‘the government’. Full Story

By: Chris Powell, GATA - 5 April, 2019

In commentary posted this week at GoldSeek's companion site, SilverSeek, silver market analyst Ted Butler reports confirmation from former Commodity Futures Trading Commission member Bart Chilton that JPMorganChase assumed from the collapsing investment bank Bear Stearns a massive short position in silver and has been allowed to manipulate the silver market for years right to the present day.

Butler complains that he was misled years ago by Chilton's responses to complaints of silver market manipulation, but Butler seems to be missing a way of construing the former commissioner's key comment. That is, Chilton has said the CFTC's long-running investigation of the silver market found evidence of manipulation but not enough to bring charges. That could mean that the underlying manipulator hasn't been JPMorganChase at all but the U.S. government using JPMorganChase as a broker in the market. Full Story

By: Ted Butler - 4 April, 2019

A recent interview with former CFTC Commissioner Bart Chilton nearly knocked me off my feet because it confirmed what I have alleged, starting more than 12 years ago. I’ll include the interview later, but first I will set the background of the subject and timeline in order put Chilton’s words into the proper perspective. The subject is JPMorgan’s manipulation of the silver market. The timeline is important because Chilton does misstate some facts that need to be corrected. I’m not a big fan of articles that include lots of links to past articles, but in this case it’s unavoidable. Full Story

By: Adam Taggart - 4 April, 2019

It seems the precious metals industry does a bad job of educating the curious buyer, probably because each player has a bias towards their particular slice of the solution set.

I find myself guilty of assuming that everyone is as familiar as I with the full spectrum of gold-silver purchase options available. So to correct that, I've taken the time this week to detail those options out for the novice buyer.

So, if you've been thinking about converting some of your paper fiat money into precious metals but are unsure how to start, wonder no more.

Below is a primer of the main options available to you, and in which situations each makes sense to consider. Full Story

By: David Haggith - 4 April, 2019

If you’re in the 1%, you love voodoo economics. It has served you better than anything you ever knew prior to that. If you’re not, why do you still support it (if you do)? Just living the delusion that someday you’ll be rich, too, and when you get there you want to hold on to it? Well, you’re not going to get there by the supply-side path. That’s an illusion held out to the middle class to get them to keep voting supply-side; but a demand-side shift in all tax breaks could give you a little nugget to start something with and to build your way there. That’s where the real jobs and real innovations are created by the little guy or gal building his or her path to the top.

Are you going to do something to beat the establishment or let them pillage you for the rest of your life? (Hopefully, you are doing something, and I’m just preachin’ to the choir. In which case, I hope you enjoyed the supportive words to your actions!) Full Story

By: Avi Gilburt - 4 April, 2019

While so many were getting so bullish of the metals market over the last few months, my work was telling me that we were not likely going to be seeing a major break out just yet. So, I have been waiting patiently for a good set up for another long trade.

But, during my wait, I have seen extremes in sentiment again. At the highs, the extremes were quite bullish. And, now, the fear is starting to creep back into the market. Full Story

By: Dave Kranzler - 4 April, 2019

The Cass Freight Index for February declined for the third straight month. Even the perma-bullish publishers of the Cass newsletter expressed that the index “is beginning to give us cause for concern.” The chart of the index has literally fallen off a cliff. Meanwhile, the cost of shipping continues to rise. So much for the “no inflation” narrative. The Cass Index is, in general, considered a useful economic indicator. Perhaps this is why Kudlow wants an immediate cut in the Fed Funds rate?
Full Story

By: SRSrocco - 4 April, 2019

By purchasing increasingly worthless paper assets, we can thank the central banks for propping up the global economy for the past decade. Since the 2008 financial crisis, the top central bank’s have acquired $13 trillion worth of assets on their balance sheets. While the central banks label these balance sheet items as “Assets,” they are nothing more than glorified Paper IOU’s.
Full Story

By: Keith Weiner - 2 April, 2019

A number of commentators have predicted that the rules of the Basel III bank regulations will cause gold to skyrocket (no, this article is not about our view that gold does not go up, that it’s the dollar going down, that the lighthouse does not go up, it’s the sinking ship going down in the storm).

Will it? It would be easy to say—as with all of their other predictions of gold to infinity and beyond—“wait and see.” But where’s the fun in that? We’d rather look into the nature of the claim, how banks operate, and what the regulation actually says.

So who wants to understand a bank balance sheet, and regulators’ view of bank risk? In other words, who wants to understand whether gold will skyrocket? Full Story

By: Stewart Thomson - 2 April, 2019

The COMEX price of gold is determined mainly by commercial bank traders and hedge funds reacting to physical market supply versus demand. Currently, mine supply is relatively constant, central banks are net buyers, and the scrap market is stable.

Roughly speaking, physical market demand strengthens from August until February and it weakens from February to August. Full Story

By: Chris Powell, GATA - 2 April, 2019

For almost 20 years my organization, the Gold Anti-Trust Action Committee, has documented why mining assets particularly and other assets generally can not be valued accurately or even valued at all without first taking into account the largely surreptitious intervention in the markets by governments and central banks, surreptitious intervention that lately has become almost comprehensive.

Government intervention against the price of gold is not mere "conspiracy theory" but an old story fully documented in government's own archives. It is official policy going back to the United States government's enactment of the Gold Reserve Act of 1934, which created the U.S. government's Exchange Stabilization Fund. This policy of gold price suppression continued through the London Gold Pool of the 1960s, a coordinated scheme of gold reserve dishoarding by the U.S. government and seven allied governments to hold the international gold price at $35 per ounce. Full Story

By: Chris Waltzek, GoldSeek Radio - 1 April, 2019

- In Part I with global financier, Martin Armstrong of Armstrong Economics our guest rejoins the show with commentary.
- "Tangible assets will survive," when paper assets evaporate, making collectible items and PMs invaluable.
- Martin Armstrong is anticipating an EU banking crisis, a "Perfect Storm" a liquidity crisis looms in emerging markets. With capital controls starting to curb appetites for global debt, investors could face complete chaos by May of 2019.
- The sound money crowd could be vindicated at that point, as global investors / institutions scramble for the exit.
- However, far too golden lifejackets / lifeboats are available on the deck of the economic SS Titanic. Full Story

By: Keith Weiner, Monetary Metals - 1 April, 2019

We think we are the only generation to be smart. In the 19th century, they did not have the internal combustion engine. In the 18th century, they did not have the railroad. In the 17th century, they did not have the piano. So, most people assume, they were dumb. They did not know about smart phones, so they would not have understood anything. Such as money.

So let’s tell the story of the ancient city of Orinthus. They were innovators in money, millennia ahead of their time… Full Story

By: Dave Kranzler - 1 April, 2019

“The reason nobody really knows what caused the financial crisis is that no one asked Ben Bernanke, Chairman of the Federal Reserve at the time, or Hank Paulson, the Treasury Secretary at the time, exactly why they were lying about why those banks supposedly needed a bailout” – John Titus, “The $1 Trillion Devil in the Details Full Story

By: David Haggith - 1 April, 2019

In February of this year, I wrote about the closure of shopping malls sweeping the nation as the damage is beginning to pile up, but we still have most of 2019 to go just for the main event to play out and then a long tail of collateral damage and dwindling store closures after that as death of one species ends the food chain of another and the circles of damage widen outward from the giants of retail that were the first to go because the least adaptable. Full Story

By: Avi Gilburt - 1 April, 2019

In the coming days, TLT will approach its next test. If it will be unable to move through the 127.25 level, then we will likely see a pullback lasting for at least a week before we head up to the 128 region. However, if we see a move in the coming week through the 127.25 level, and we are able to continue strongly through 128, then we will be targeting the 130/131 region next. In other words, the market will likely decide shortly if it will be providing us with larger degree extensions or not. But, as long as all pullbacks hold over 124, I still see a rally to at least the 128 before I even consider it to potentially be topping. Full Story

By: John Mauldin, Thoughts from the Frontline - 1 April, 2019

Cracks Appearing
First Domino
Constrained Hiring
Tariff Trouble
A Virtual Pass to the SIC
RIP, Andrew Marshall, The Last Warrior
Cleveland, Chicago, Dallas, Austin, Dallas, and Back Home to Puerto Rico Full Story

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