Within the US borders, the population remains largely ignorant of the true significance of the global currency reserve concept. It is of paramount importance, yet almost never discussed in the financial press. The public within the United States simply assumes the country operates with the USDollar as its currency, with near blindness to its global role in trade and banking. The end of an era is coming, as the change will be powerful in its effect. The shock wave could hit this year in some form, in a manner to highlight its importance. Full Story
If the tape does indeed tell all, what is it telling us now? The major indices and the NYSE breadth indicators have been in good shape for most of the year. By the same token, cumulative trading volume has been subdued because of diminished participation among individual traders as passive ETF investing has gained popularity. The major averages have been buoyant, but not lively, in recent months. This has been reflected in the economic news for most of the year, and there have been no crisis events to speak of. The market, in short, has been dull and listless in reflection of the lack of bad news news. You could even say that the market has predicted the lethargic U.S. political/economic scene of recent months by its own lack of excitement. Full Story
By: Adam Hamilton, Zeal Intelligence - 14 July, 2017
One of the primary keys to success in investment and speculation is picking the right stocks to trade. That’s no mean feat, as it takes great effort, expertise, and time to winnow the whole field down to the likely winners with the best fundamentals. Although deeply out of favor now in the summer doldrums, the small contrarian gold-stock sector has generated truly epic gains for investors and speculators over the years. Full Story
In last week’s Insight, I analysed the current geopolitical situation and concluded that it was now in the interest of the Shanghai Cooperation Organisation to break from the US dollar completely, by establishing a new monetary and banking systemi. By linking the yuan and rouble to gold, the SCO’s principal currencies would be insulated from manipulation by means of dollar currency rates, and their use as a weapon to undermine the Sino-Russian partnership. This article addresses some of the practical difficulties of establishing such a sound monetary system. Full Story
Indeed, NFTRH has been in bull mode in one way or another since the height of the Brexit hysteria and its low risk bullish signals (as global herds rushed to risk ‘off’ sovereign bonds amid the knock-on NIRP!!! hysteria). More recently we have been bullish but in ‘risk’ mode, which continues and if the above cycles and Fed Funds analysis means anything, will only intensify. High risk does not mean bearish; it means high risk which, especially if the mania intensifies, can go hand in hand with reward. Full Story
Chris Martenson from PeakProsperity.com, author of the must read book, Prosper! returns from Buenos Aires. He shares his grave concerns on the economies of South America. Argentineans are advised to prepare for runaway inflation. The situation resembles their neighbor nation, Venezuela, forecasted to top 1000%, making a form $2.00 loaf of bread $20.00 (Figure 1.1.). Full Story
By: John Browne, Senior Economic Consultant at Euro Pacific Capital - 14 July, 2017
Any news that emerged from last week's G-20 Summit in Hamburg, Germany was bound to be overshadowed by the high theater of the first-ever meeting between U.S. President Trump and Russian President Vladimir Putin. As a result, the biggest actual development from the Summit garnered very little attention in the American media. In fact, it did not involve America at all. Full Story
Examine over a century of official national debt data graphed on a log scale. Official debt in 1913 was $3 billion. Since then it has risen 8% to 9% every year to reach $20 trillion or $20,000 billion. Debt will continue rising as long as politicians spend and bankers lend. Proof: Name the Senators, Representatives, Presidents, military contractors, pharmaceutical companies, and Medicare recipients who wish to see the government reduce expenses. Full Story
Platinum is one of the rarest elements in the world, much rarer than gold. This is why historically the white metal has been more valuable – just think of platinum credit cards which offer greater privileges and prestige than the gold ones. However, the ‘little silver’ has recently been traded at a discount to gold, as one can see in the chart below. Full Story
The stars — in the form of smart and dumb money futures contract positions — have once again lined up favorably for precious metals. Here are those positions for gold and silver as of Tuesday the 4th. Notice that speculators (the dumb money) got a lot less optimistic — that is, less long and more short — while the commercials (the smart money) got much less pessimistic. The closer each group gets to neutral, where their longs and shorts are about equal, the greater the likelihood that metals prices will rise in the subsequent six or so months. Full Story
Four weeks ago, after gold had corrected down from nearly $1,300 to around $1,240, I tweeted out that I was thinking about re-entering the JNUG (Direxion Daily Junior Gold Miners Index Bull 3X ETF) market and proceeded to launch into one of my classic invectives on why the Commercials were going to get toasted and why I should be considered the Crown Prince of non-Linear Thinking in my self-amused prowess in "smoking the criminals." Full Story
After striking a bottom on June 6th in what I had been counting as a smaller degree ending diagonal this week, the XIV has continued to push higher, trading 12% higher from last week’s low into the close on July 13th. We are now once again within striking distance of seeing a new all-time high in both the XIV as well as the SPX. This move up off of last week’s low in the XIV does fit well with the larger degree pattern that we are watching on the XIV as the preferred path is looking for another high over the June 27th high prior to making a larger degree top. Full Story
We’ve been using an 1194.40 correction target for a while, but today’s chart, a continuous daily, shows a bigger picture that is intended to ward off despair. First the bad news. The red abc pattern projects to as low as 1100.60, a $116 drop from these levels. That is my worst-case scenario for the next 8-10 weeks, and the odds of this target being reached would shorten if the futures were to close below 1195 for three consecutive days. Full Story
For the first time, The Maestro brings together two market analyst titans, Bill Holter and Lynette Zang, to the table to discuss Janet Yellen, monetary policy, principles of finance, a declining dollar, the future of pensions, precious metal hedges, and TONS of charts and data! Full Story
When a Fed chair says something as audacious as there is no chance of another financial crisis in our lifetimes and when she sees no concrete situations of banks being too big to fail, even when the ones that were too big to fail last time are now twice as big, I think Titanic disaster. I think of all those nuclear experts who said, when three Fukushima reactors were blowing up and melting down, that they saw no chance of meltdown anywhere because these reactors were built too tough to melt down. As they spoke, you could hear the reactors exploding and see tops blowing off the buildings on videos playing behind them and watch people running around in protective suits, which made for quite a spectacular orchestration of expert feel-safe baloney. Full Story
One group of experts state that the markets are ready to crash, another states the markets are ready to soar to new highs. Which group is one supposed to believe? For starters, the naysayers have the odds stacked against them as every so-called stock market crash has turned out to be a long-term buying opportunity. We view stock market crashes as once in a “lifetime buying opportunity” and frankly so should every self-respecting long term Contrarian investor. The smart money always swoops in and buys top quality stocks when there is blood on the streets, and the dumb money sells right at the bottom. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 13 July, 2017
The TF Metals Report calls attention to an interview given today to Fox Business News by Terry Duffy, CEO of CME Group, operator of the major futures exchanges in the United States, in which Duffy said gold is underpriced by thousands of dollars per ounce. But Duffy attributes the underpricing not to the rigging of the futures markets by the governments and central banks that receive volume discounts for their surreptitious trading in CME Group futures contracts, about which Duffy surely knows... Full Story
In September 2014, the Shanghai Gold Exchange (SGE) established a physical gold trading and custody platform aimed at international gold investors, launching this platform as the “Shanghai International Gold Exchange (SGEI)“. The Shanghai International Gold Exchange can be viewed in a number of ways. Organizationally, the SGEI it is a fully-owned subsidiary of the SGE and is registered in the Shanghai Pilot Free Trade Zone (FTZ)[1]. The SGEI’s offices are also located in the Shanghai Pilot FTZ in the Bank of China Tower, 200 Yincheng Road Central, Pudong, in Shanghai. Full Story
By: Steve St. Angelo, SRSrocco Report - 13 July, 2017
There are four interesting developments taking place in the gold and silver market that precious metals investors should be aware of. While Americans continue to place all the BETS in the CASINO called Wall Street, via stocks, bonds and real estate, the EAST has been acquiring record amounts of gold and silver. Furthermore, something interesting seems to have changed recently in the Silver Eagle sales market. Full Story
In April I wrote an article on SeekingAlpha discussing the potential inflection point that the GBP/USD was closing in on ahead of the UK elections, which were scheduled to occur on June 8th. At the time the GBP/USD was trading at the 1.2860 level, and I was looking for the Pound to move higher into the longer-term resistance zone that I had been watching on the pair since the 2016 low was struck. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 July, 2017
We turn to the storage companies that hold gold both in your own country and away from their own locations in countries like Switzerland, Singapore, Hong Kong and the like. These companies are usually based in countries like the U.K, U.S. and the E.U. the main centers for gold markets in the developed world. And they themselves are bound by the laws that govern those nations. The fact that they store gold for clients outside of these jurisdictions does not alter this. They themselves are bound by those laws. Full Story
A few moments ago on Fox Business Channel we heard someone proclaim that "given all that's going on the world, gold should probably be $5,000 to $6,000 per ounce". Who actually had the gall to say this on live television? You won't believe it unless you see it for yourself. So, here you go. This is Neil Cavuto discussing the "markets" with Terry Duffy, the one and only CEO of the CME Group. The first five minutes are the standard boilerplate of Fed policy, etc and blahblahblah. However, at the 4:55 mark, Cavuto asks... Full Story
Safe-haven demand for physical precious metals came in soft through the first half of the year as a rising stock market reinforced investor optimism toward the economy. U.S. stocks are expensive by just about every valuation measure you can think of – price/earnings, price/sales, dividend yield, total market capitalization as a percentage of GDP, etc. Even Fed chair Janet Yellen remarked recently that equity valuations appeared “rich.” Full Story
For the benefit of subscribers and to help yours truly to make good decisions, we plot an indicator with ten components on a daily basis, that we refer to as the GDI. On Monday the GDI closed at 39% and on Tuesday it moved into positive territory with a reading at 61%. As the following chart (courtesy goldchartsrus.com) shows, the long-term historical pattern (black line), is for gold and mining stocks to rise for 8 months, once the June-July lows are put in place. Full Story
There’s a lot to cover, so let’s start with what is perceived to be the elephant in the room, the Fed. In suggesting that the Fed would soon initiate balance sheet reduction, Fed Chair Janet Yellen indicated it would be like watching paint dry on a wall. Duly observant, numerous pundits agreed. With due respect, that’s a bunch of baloney, but judge for yourself. Unless markets fall apart in the coming weeks, we expect that the formal announcement for the Fed’s balance sheet reduction will be made this September, with a gradual stepping up in the amount the Fed will allow to “run off”, i.e. the amount of maturing bonds it won’t re-invest. Full Story
Fed Chair Janet Yellen just announced that the Fed will be kicking the $USD off a cliff. She didn’t use those words, but the words she did use weren’t all that different. But first a little context… The fact is that the $USD has been falling steadily throughout 2017. At this time of this writing, it was down nearly 7% year to date. Full Story
As I see many metals investors and traders begin to throw in the towel, I wanted to take this opportunity to again explain why I will not count myself amongst them just yet. However, I will explain below what it would take to have me begin to look for lower lows in the overall complex relative to 2015, since I have been asked so often. (And, I usually get those questions as the market bottoms and begins a strong rally). Full Story
On Thursday, July 6, in the late afternoon (as reckoned in Arizona), the price of silver crashed. The move was very brief, but very intense. The price hit a low under $14.40 before recovering to around $15.80 which is about 20 cents lower than where it started. Buyers of silver are rejoicing. They can now get more money (silver, like gold, is money) in exchange for their dollars than before. However, as we see from the reactions in the community, there were few buyers. Full Story
In 1980, the Financial Deep State realized that there existed an extraordinary opportunity for serial plunder and profiteering: the manipulation of the gold and silver markets. They immediately mobilized to exploit it. During the subsequent 37+ years (we are now well into the 38th), the Deep State manipulators have criminally looted the gold and silver markets, pocketing astronomical profits for themselves in the process, all of which have come from real victims on the other sides of their fraudulent trades. Full Story
It was almost precisely two years ago that the WSJ published their infamous "gold is a pet rock" article. Just as that article and a few others marked the conclusion of the bear market, could a new article published ten days ago in the Washington Post be ringing the same bell? Full Story
Most precious metal assets staged a solid “comeback rally” against government fiat yesterday. Please click here now. Double-click to enlarge this key GDX chart. There’s decent intermediate trend technical support in the $21 area. Hardcore accumulators can place buy orders for GDX in the $23 to $18 price zone. To understand why this is a good idea, please click here now. The deep-pocketed commercial traders are serious gold buyers now. Full Story
Michael Marcovici, managing director of the promising ICO, DigitalDevelopersFund (DDF) makes his show début. DDF offers directs net returns from high growth digital assets such as domain names and crypto currencies, through a unique dividend. 50% of fund profits, distributed by an Ethereum smart contract. Cryptocurrencies are catching the attention of top investors, such as Billionaire / Bitcoin aficionado, Tim Draper backs a similar upcoming blockchain ICO. Full Story
In the first part of the Preparing for THE Bottom series, we emphasized the need to be sure to stay alert and focused in the precious metals market, even though it may not appear all that interesting. We argued that preparing for the big moves in gold that are likely to be seen later this year should prove extremely worth one’s while. In the second part of the series, we discussed when, approximately, one can expect the key bottom in gold to form (reminder: this winter appears a likely target). Full Story
We recently reported how the people of India has swallowed a massive 1,473 tons of silver in the month of May 2017. Not only was this one of the largest months for Indian silver imports it was more ounces of silver than the U.S. Mint had sold Silver Eagles in the whole of 2015. 2015 set the new all time high for American Silver Eagle sales and it took the U.S. Mint all year to do what India did in one month! Impressive to say the least. Now we learn that India also imported a massive volume of gold during the month of May 2017, more than double any other month in the last 12 months. Full Story
Of the 14 commodities we track closely at U.S. Global Investors, wheat rose to take the top spot for the first half of 2017, returning more than 25 percent. The grain was followed closely by palladium—used primarily in the production of catalytic converters—which gained 24 percent. Between the start of the year and June 30, the Bloomberg Commodity Index contracted 4.03 percent, with energy weighing down on the mostly strong performances of precious and industrial metals and agriculturals. Full Story
I recently uploaded a video with what I consider one of the best opportunities in the USA for junior gold mining. The project has been significantly derisked since the time I started highlighting this company. They have attracted the top financial partners to make the mine fully financed and have received all the permits for production. I expect a rerating at the end of next month as 10 million warrants expire by the middle of July and as they close this major institutional financing. Notice chart below of the life cycle of a junior. Full Story
In the last update we had thought that gold might escape its usual seasonal malaise this year, but it didn’t and went into a rather sharp downtrend and dropped again quite sharply on Friday. The good news though is that this drop has not impacted the big picture at all, which remains strongly bullish, and a bonus is that this drop has flushed out a lot of remaining weak hands, as we will see when we come to the latest COT charts and set the sector for a reversal soon leading to a strong uptrend. Full Story
In May 2007, in Subprime America Infects Asia and Europe I predicted a severe financial crisis was imminent: the risks that have lain dormant beneath globalization's foundation are about to erupt and a reordering of the world's financial geography is about to ensue. It's spring 2007 and the sun is shining in the US, backyard BBQs are being cleaned in anticipation of summer’s use. A severe financial crisis, however, is in the offing; a crisis as unexpected as the Golden State Warrior’s last minute steak to the NBA playoffs. Full Story
The best performing precious metal for the week was palladium, down just 0.34 percent on little news over the week. Gold traders and analysts remained bullish for a third week following North Korea’s test of an intercontinental ballistic missile, writes Bloomberg News. The Federal Reserve’s recent meeting showed a lack of consensus on when to shrink its balance sheet, reports Bloomberg, along with how to approach policy strategy at a time of low inflation. Gold held on to its gains following the release of the meeting’s minutes this week. Full Story
It is my privilege now to welcome in Chris Powell, Secretary-Treasurer at the Gold Antitrust Action Committee, also known as GATA. Chris is a long-time journalist and hard money advocate, and through his tireless efforts at GATA he is working to expose the manipulation of the gold and silver markets. Through GATA's work over the years. Some important revelations have come to light, which quite honestly should concern everyone. Full Story
The stock market rallied on Friday on employment news that should have been cause for worry rather than celebration. It is yet one more sign that shares have completely decoupled from reality if not yet sanity. Although the work force was reported to have grown by 220,000 in the last month, there has been scant wage growth to support the Fed’s increasingly farfetched narrative of economic recovery. Clueless as ever, The Wall Street Journal expressed puzzlement over how a relatively tight labor market could be producing such little pressure for higher wages. Full Story
It’s hard to tell—we don’t have the tools to measure such a thing—but it seems like the hype and aggression from the gold bugs and conspiracy theorists is reaching a fever pitch. For example, one high-profile commentator, whose reputation goes way beyond the world of gold, claimed that 1.8 million ounces of gold were sold in a few seconds on June 26. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 10 July, 2017
Because Northern Vertex has a fully-permitted mine just months away from its first gold pour, because it has strong financial backing from institutional investors, and because it has shown a low-cost operation with the ability to produce high rates of return at even sub-$1,250 gold, Northern Vertex should be on all Ahead of the Herd radar screens. Full Story
CEO Daniel Mark Harrison in Singapore kicks off the new segment, Tales from The Crypto-Sphere, with an overview of his blockchain based hedge fund. Monkey Capital is scheduled to go public in 8 days! Part II of the discussion with global financier, Martin Armstrong of Armstrong Economics, includes the script from his next Hollywood movie. The duo delve into cryptocurrencies, the most significant breakthrough in finance in at least 20 years. Full Story
Last weekend we went away to enjoy the Canada Day holiday. It was a great three days with minimalist news coming to our phones when we had internet, which was infrequent. We were, however, probably more interested in how the Toronto Blue Jays were doing, which as it turned out, not very well. We came back hoping to be greeted by a sunnier world. But, alas, it wasn’t, and it may even have turned darker. Full Story
Long time readers of The Daily Coin may remember we interviewed Peter Boehringer, the architect for the German Gold Repatriation Movement. Peter has been skeptical of the information provided by the Bundesbank since day one. Bundesbank, Germany’s Central Bank, has never once produced a gold bar serial number, an assay or any actual tangible proof that Germany has ever received any of the gold they requested from clutches of the Federal Reserve. Full Story
The way we assess problems depends on our perspective. People can look at the same set of facts and reach quite different conclusions based simply on their circumstances. This is why it’s good at times to get away from your normal environment. Listen to a wide variety of opinions. Read books outside of your comfort zone. You’ll see things differently when you return. Full Story
Silver futures prices on the COMEX futures trading platform briefly plummeted at approximately 7:06am Singapore time yesterday, with the price for the front month (most active) September silver contract falling from a US$16.06 quote down to a low of US$14.34 all within a 1 minute interval. The futures price then recovered nearly all of its losses in the subsequent 2-3 minute period. High to low, this COMEX silver futures contract saw its price fall by just over 10.7%, before rebounding nearly 11%. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 9 July, 2017
Writing for the Daily Reckoning, fund manager and author James G. Rickards says supplies of real gold are tight, prices are being suppressed by manipulation of gold's futures market, regulators have signalled that "this is a big boy's market and players can do whatever they want as long as it’s not too blatant," the June 26 flash crash in gold was probably undertaken to knock gold call options out of the money a day before expiration, and market manipulations always fail eventually. Full Story
Last week we wrote that Gold’s poor performance in real terms could reflect its worsening fundamentals. Real interest rates are rising because the rate of inflation has peaked and bond yields are rebounding. It is a double whammy for precious metals. This is not permanent but something that could last a few quarters. Gold needs inflation to accelerate or bond yields to drop significantly. One historical analog argues that with respect to the Federal Reserve, a change in policy could be part of the fundamental shift needed to drive Gold into a bull market. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 9 July, 2017
Mike Gleason of Money Metals Exchange in Idaho this week interviewed your secretary/treasurer, who argued that market regulators in the United States are powerless against market rigging instigated by the U.S. government itself, which is fully authorized by federal law to rig markets in secret anywhere in the world. Financial institutions trading on the U.S. government's behalf, your secretary/treasurer said, may share the government's immunity in the scheme. Full Story
Gold lost 2.62% and broke a major uptrend line. The action was very, very poor and on heavy volume which tells me more downside is in golds near future. Looks to me like the major $1,180 pivot area is soon to be back in play and below that, support sits down at $1,130. Let’s see how next week plays out but $1,180 should be a good level to at least get a short-term bounce play. Time will tell. Full Story
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