By: Dave Kranzler, Investement Research Dynamic's Mining Stock Journal - 5 June, 2020
The employment report is a complete fraud. But as long as the market and it’s army of mainstream story-tellers focus just on the headline number, unicorns do exist. But the Devil is in the details:
However, there was also a large number of workers who were classified as employed but absent from work. As was the case in March and April, household survey interviewers were instructed to classify employed persons absent from work due to coronavirus-related business closures as unemployed on temporary layoff. However, it is apparent that not all such workers were so classified. BLS and the Census Bureau are investigating why this misclassification error continues to occur and are taking additional steps to address the issue. Full Story
The price of silver soared in May, jumping more than 19 percent on safe haven demand as well as increased expectations of a swift economic recovery, given its many industrial applications. Not only was this silver’s best month since 2011, but it also marked an impressive turnaround for the white metal that just recently plunged to a more-than 10-year low. From March 18 through June 1 of this year, silver soared more than 52 percent, erasing all of its losses due to the coronavirus pandemic. Full Story
While the use of gold to protect against inflation is well known, it has other investment attributes that are potentially even more valuable, and this is particularly true in times of crisis.
In this analysis, we will examine the relative performance of gold and stocks (as represented by the S&P 500) between early February and late May, as the coronavirus pandemic and the resulting economic shutdowns transformed global economies and markets.
The short term relationship that we will find is an almost perfect match with what fifty years of financial history shows us is perhaps gold's most valuable investment attribute over the long term, which is its contracyclical relationship with stock prices. Full Story
Of course, I am sending this article to JPMorgan, as well as to the key officials at the CFTC and CME Group, but I also intend to make this article public so as to openly go on the record. I am torn about accepting payment from private subscribers while turning around and making public what you paid for, but I do feel it is in everyone’s best interest to let all of this see the light of day. Besides, I rarely make public more than one of the 8 or 9 articles I publish each month. Full Story
By: Stefan Gleason, Money Metals Exchange - 3 June, 2020
The currency crisis will also come – perhaps later this year, perhaps further out in time.
Admittedly, most of us in the sound money camp have been surprised at how resilient the Federal Reserve Note has been for so long. But the world’s primary reserve currency has never had to weather a storm quite like the one we are in now.
No government can borrow into oblivion and no currency can be printed into oblivion without that currency losing credibility and purchasing power. Full Story
The Bank for International Settlements, which acts as an agent for most central banks, appears to have made little change in its use of gold swaps. The BIS is estimated to have increased its position in gold swaps and gold-related derivatives by 6 tonnes in March to 332 tonnes, and then to have decreased it by 4 tonnes in April to 328 tonnes. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 2 June, 2020
Because we live in a fiat monetary system, currencies are not backed by anything physical; the reserve currency, the US dollar, was de-coupled from the gold standard in the early 1970s. It's not like a raid on vaults full of gold, which have an inherent, physical store of value.
In reality there is nothing preventing central bankers from doing a complete global reset, putting all debt back to zero. Full Story
One wants to be careful about seeing things as previously predicted, but not so careful so as to not recognize when things seem to be playing out exactly as expected. Recent news stories and events seem to be in accord with a number of my central themes, but I’ll present the case as I see it and let you decide. Full Story
For a market that has thrived on bad news, the headlines over the weekend could not be more encouraging: looters running amok in America's largest cities; record unemployment; millions of rents and mortgages going unpaid; a menacing chill in U.S. relations with China; bankruptcies sweeping through nearly every sector; the devastation in particular of travel, dining and entertainment; the huge capital write-downs coming in the energy sector as subways, buses, trains and planes worth hundreds of trillions of dollars face obsolescence. Full Story
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