Gold World News Flash |
- Productivity Misconceptions
- China, Greece and the NYSE: Black Swans or Red Flags?
- JP Morgan And Citi Are Using OTC Derivatives To Manipulate Gold And Silver
- GLOBAL MARGIN CALL? — Bill Holter
- COMEX Silver ‘Owners Per Ounce’ and the Great JPM Silver Hoard
- Global Central Banks on Verge of Complete, Permanent Loss of Credibility
- Are Big Banks Using Derivatives To Suppress Bullion Prices?
- China's Annotated Collapse Into Centrally-Planned Market Hell
- Climate Engineering , Weather Warfare And The Collapse of Civilization
- 10 Very Strange Things That Have Happened In Just The Past Few Weeks
- New Greek Proposal Backtracks To Pre-Referendum Draft, Does Not Request Debt Haircut - Full Text
- Jade Helm Alert: Military Denies Media Requests To Cover "Texas Takeover"
- Economic Collapse 2015 -- U.S. Jobless Claims Climb 15K to 297K
- Gold Price Fell $4.30 or 0.37 Percent Closing at $1,159.00
- BREAKING: Iran Nuke Deal May be Reached Within Hours
- NYSE Shutdown a Signal on What's Coming on 9/23 2015 - Be Prepared
- First Gold Manipulation, Now Silver? - Lead Researcher In Libor Case
- NYSE United Hack Attack? Black Swan Scenario | Fabian Calvo
- Greg Mannarino : Market Rigging Hits New Levels
- Harry Dent : The Collapse has Started , The Stocks Are In Free Fall
- Gold Daily and Silver Weekly Charts - Some Group Is Sitting On These Markets
- Ron Paul: The Whole Thing Is Coming Apart
- Jim’s Mailbox
- NYSE Second Big Computer Glitch -- Could be The Beginning of a World Collapse
- America's Economic Meltdown starts from Puerto Rico
- Roberts and Kranzler: Are big banks using derivatives to suppress bullion prices?
- Why Most Investors Are Wrong About Oil — And How It Can Pay You 5.1%
- Computer Glitches All Around!
- Gold and Silver Stocks Game Plan
- Pershing Gold NASDAQ Uplist Is Part of Larger Resource Expansion and Production Push
- China, Greece and the NYSE: Black Swans or Red Flags?
- Prospects for the Euro After the Greek Tragedy Concludes
| Posted: 09 Jul 2015 11:30 PM PDT by Alasdair Macleod, Gold Money:
Comparative figures for Europe quoted by the BBC were sourced from the OECD and are replicated in the chart below. It represents GDP per hour worked, using the US dollar on a purchasing power parity basis across different EU nations. And it shows the UK as lagging other European countries badly, which presumably is why the Chancellor feels the need to act. These statistics are misleading. France is shown as even more productive than Germany, which cannot be true. France's unemployment is at 12% and private sector employment is only 62% of the OECD's "economically active population". This is not a productive economy. Furthermore the public sector is 57% of GDP, compared with 44% for the UK. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| China, Greece and the NYSE: Black Swans or Red Flags? Posted: 09 Jul 2015 11:02 PM PDT Scary. That is the word that kept coming up over and over as the news came in this week. Greece technically defaulted. The Shanghai Composite index dropped some 30%. And then a computer glitch caused the NYSE to be down for three hours. Are these headlines just blips on the equities markets? Do they have long-term implications for resource stocks? To answer these questions, we did what we do best at The Gold Report and asked the experts what is causing all the black swans and what they are doing to protect themselves. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| JP Morgan And Citi Are Using OTC Derivatives To Manipulate Gold And Silver Posted: 09 Jul 2015 09:35 PM PDT Financial regulators around the world have recognized an immediate and pressing need to address possible regulatory protections in the OTC derivatives market. – Brooksley Born, 1998 as Chairman of the CFTC – LINK by Dave Kranzler, Investment Research Dynamics:
Please note: this scheme too will blow up in their face just like Long Term Capital, Enron, Bear Stearns, Lehman, AIG/Goldman. The taxpayers will be bailing out the banks – and now we know why Citigroup wrote the legislation that enabled banks to move their OTC derivatives positions to their FDIC insured units – but gold and silver will go parabolic. Back in the late 1990's, the then head of the CFTC – Commodities and Futures Trading Commission, the Government entity which is supposed to oversee futures and derivatives markets (enforce the laws in place to prevent criminal activity in these markets) – Brooksley Born embarked on an effort to impose oversight and regulation on the burgeoning OTC derivatives markets. We all saw back then the dangers they impose on the system when Long Term Capital imploded and almost took down the global financial system.
I was a junk bond trader back then and vividly remember the entire affair. In fact, Bankers Trust was the pioneer in OTC derivatives and it also had to pony up the most amount of money to bail out the system from Long Term Capital. I also had been involved in using OTC high yield derivatives – unregulated – to hide large, risky and illiquid junk bond positions from the Bankers Trust risk management team. We always did this right before the period in which the bank began calculating bonus pools. In other words I know first-hand the many ways in which OTC derivatives can be used in corrupt ways to game the system and squeeze enormous profits from the markets. "Markets" meaning, the people on the other side of your trade. Of course, Robert Rubin, Larry Summers and Alan Greenspan put on a full-force lobbying effort to destroy Ms. Born's effort in Congress and the rest is history. OTC derivatives are not only financial nuclear weapons of mass destruction, they are right now about the only source of real cash flow for the big banks. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GLOBAL MARGIN CALL? — Bill Holter Posted: 09 Jul 2015 09:15 PM PDT by SGT, SGT Report.com: Bill Holter is back to discuss the impending ‘Global Margin Call’… and when it might begin. We recorded this call on Friday, July 3rd, so we weren’t privy to the outcome of the Greek referendum at the time of this call. So Sunday’s news that the PEOPLE of Greece have said a resounding NO to IMF Bankster servitude and endless austerity is most welcome news indeed. Although, from a global economic collapse perspective, from a derivatives bubble and credit default swaps and TBTF criminal international banks perspective, today’s vote may well ensure that a ‘Global Margin Call’ could commence at any moment. Thanks for joining us – and stay tuned to SGT Report all week for much more on the events in Greece and the repercussions that these events may have on all of us. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| COMEX Silver ‘Owners Per Ounce’ and the Great JPM Silver Hoard Posted: 09 Jul 2015 08:40 PM PDT from Jesse's Café Américain:
The most impressive hoard accumulated in recent times is the silver bullion held in the JP Morgan warehouse for ‘someone.’ CNT is the big dealer in silver, using the COMEX warehouses to stage is silver wholesale business to the US government mint among others. Look at the mass of registered (deliverable) silver which they hold. They are almost an anomaly in the paper markets of New York. And it is CNT that is boosting the deliverable silver that keeps the ‘owners per ounce’ down in the face of the increasing open interest. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Global Central Banks on Verge of Complete, Permanent Loss of Credibility Posted: 09 Jul 2015 08:20 PM PDT by Andrew Hoffman, Miles Franklin:
Back then, fiat currencies were crashing due to a global financial collapse – while today, a financial collapse far worse is emerging, with the marked exception that more sophisticated "weapons of mass financial destruction" are now used today to influence perception and prevent catastrophic losses. Such manipulation is at its most obvious in the PPT-controlled "Dow Jones Propaganda Average," which is simply not allowed to materially decline, as exemplified by yesterday's prototypical "dead ringer" algorithm. Which, like this morning's futures trading, was enacted when the Dow was down exactly 1.0% – i.e. the PPT's long standing "ultimate limit down" level – amidst the most horrific commodity plunge since 2008; an accelerating, historic Chinese stock market collapse; and oh yeah, that little thing called Greece – which following Sunday's referendum, is all but assured to not only "Grexit" the Euro, but default on nearly €400 billion of debt, owed principally to the ECB, the IMF, and private European banks – all of which can only meet their share of the resultant "margin call" with freshly printed ECB Euros. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Are Big Banks Using Derivatives To Suppress Bullion Prices? Posted: 09 Jul 2015 07:30 PM PDT Submitted by Paul Craig Roberts and Dave Kranzler via PaulCraigRoberts.org, We have explained on a number of occasions how the Federal Reserves’ agents, the bullion banks (principally JPMorganChase, HSBC, and Scotia) sell uncovered shorts (“naked shorts”) on the Comex (gold futures market) in order to drive down an otherwise rising price of gold. By dumping so many uncovered short contracts into the futures market, an artificial increase in “paper gold” is created, and this increase in supply drives down the price. This manipulation works because the hedge funds, the main purchasers of the short contracts, do not intend to take delivery of the gold represented by the contracts, settling instead in cash. This means that the banks who sold the uncovered contracts are never at risk from their inability to cover contracts in gold. At any given time, the amount of gold represented by the paper gold contracts (“open interest’) can exceed the actual amount of physical gold available for delivery, a situation that does not occur in other futures markets. In other words, the gold and silver futures markets are not a place where people buy and sell gold and silver. These markets are places where people speculate on price direction and where hedge funds use gold futures to hedge other bets according to the various mathematical formulas that they use. The fact that bullion prices are determined in this paper, speculative market, and not in real physical markets where people sell and acquire physical bullion, is the reason the bullion banks can drive down the price of gold and silver even though the demand for the physical metal is rising. For example last Tuesday the US Mint announced that it was sold out of the American Eagle one ounce silver coin. It is a contradiction of the law of supply and demand that demand is high, supply is low, and the price is falling. Such an economic anomaly can only be explained by manipulation of prices in a market where supply can be created by printing paper contracts. Obviously fraud and price manipulation is at work, but no heads roll. The Federal Reserve and US Treasury support this fraud and manipulation, because the suppression of precious metal prices protects the value and status of the US dollar as the world’s reserve currency and prevents gold and silver from fulfilling their role as the transmission mechanism that warns of developing financial and economic troubles. The suppression of the rising gold price suppresses the warning signal and permits the continuation of financial market bubbles and Washington’s ability to impose sanctions on other world powers that are disadvantaged by not being a reserve currency. It has come to our attention that over-the-counter (OTC) derivatives also play a role in price suppression and simultaneously serve to provide long positions for the bullion banks that disguise their manipulation of prices in the futures market. OTC derivatives are privately structured contracts created by the secretive large banks. They are a paper, or derivative, form of an underlying financial instrument or commodity. Little is known about them. Brooksley Born, the head of the Commodity Futures Trading Corporation (CFTC) during the Clinton regime said, correctly, that the derivatives needed to be regulated. However, Federal Reserve Chairman Alan Greenspan, Treasury Secretary and Deputy Secretary Robert Rubin and Lawrence Summers, and Securities and Exchange Commission (SEC) chairman Arthur Levitt, all de facto agents of the big banks, convinced Congress to prevent the CFTC from regulating OTC derivatives. The absence of regulation means that information is not available that would indicate the purposes for which the banks use these derivatives. When JPMorgan was investigated for its short silver position on Comex, the bank convinced the CFTC that its short position on Comex was a hedge against a long position via OTC derivatives. In other words, JPMorgan used its OTC derivatives to shield its attack on the silver price in the futures market.
If these were long positions hedging the banks’ Comex shorts, why did the price of gold and silver decline? More evidence of manipulation comes from the continuing fall in the prices of gold and silver as set in paper future markets, although demand for the physical metals continues to rise even to the point that the US Mint has run out of silver coins to sell. Uncertainties arising from the Greek No vote increase systemic uncertainty. The normal response would be rising, not falling, bullion prices. The circumstantial evidence is that the unregulated OTC derivatives in gold and silver are not really hedges to short positions in Comex but are themselves structured as an additional attack on precious metal prices. If this supposition is correct, it indicates that seven years of bailing out the big banks that control the Federal Reserve and US Treasury at the expense of the US economy has threatened the US dollar to the extent that the dollar must be protected at all cost, including US regulatory tolerance of illegal activity to suppress gold and silver prices. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| China's Annotated Collapse Into Centrally-Planned Market Hell Posted: 09 Jul 2015 06:34 PM PDT By now it is clear to everyone, even the most hardened neoliberals, that what is going on in China is nothing short of the complete collapse of a centrally-planned market into sheer chaos, a bubble which while punctuated by the occasional dead cat bounce, is now finished and it is only a matter of time before all the "nouveau riche" farmers and grandparents see all their paper profits wiped out and hopefully go silently into that good night without starting mass riots or a revolution. Since by some counts there are anywhere between 20 and 40 million of them, it could be a close call, one which the Politburo would dread to see to its fruition and as such the Chinese government together with the People's Bank of China have engaged in the most desperate and unprecedented series of market bailouts, one which puts good 'ole plain vanilla QE in the "quaint" category. But most curiously, it wasn't until China literally threatened short (or any other for that matter) sellers with arrest last night, that the market finally staged a furious rebound. Will that rebound hold, or like every other dead cat bounce in history, fade quickly if not quietly into memory, we shall see over the next several days. In the meantime, for those curious what it looks like when a centrally-planned market devolves into complete chaotic hell despite the relentless intervention of the local authorities and central planners, look no further than the chart below...
And while it may seem that China has literally thrown the kitchen sink at its "maliciously" crashing stock market (odd how there were no complaints about malicious buying on the way up...), the reality is that China still has quite a few tricks up its sleeve, starting with a plain vanilla rate cut, proceeding to expanded stock buybacks, a complete short-selling bank, and finally culminating with that inevitably Hail Mary of every central bank: "outright share purchasing."
The good news is that what China is doing should be a lesson to all other global markets, which to a lesser or greater extent, are all as manipulated, rigged and centrally-planned as China's. Seen in this light, China is merely a harbinger of what is coming to a banana market near you... | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Climate Engineering , Weather Warfare And The Collapse of Civilization Posted: 09 Jul 2015 06:30 PM PDT This is one of those videos that is a shock to the system. Hats off to Dane Wigington for the amazing presentation. Check him out on Facebook here: Please visit the site for more info, these guys know what they are talking about: Dane Wigington presents hard data which reveals what these... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 10 Very Strange Things That Have Happened In Just The Past Few Weeks Posted: 09 Jul 2015 06:30 PM PDT Submitted by Michael Snyder via The End of The American Dream blog, Have you noticed that events have begun to accelerate? Over the past few weeks, things have officially started to get very weird. Chinese stocks are crashing, the Greek debt crisis is spiraling out of control, the New York Stock Exchange was down for about four hours on Wednesday thanks to a “technical glitch”, and global politicians have been acting very strangely. After several years of relative calm, could it be possible that the second half of 2015 will usher in a time of chaos and confusion on a worldwide scale? Personally, I have never been more concerned about a period of time as I am about the last six months of 2015. And if I am right, what we have seen so far is just the tip of the iceberg. The following are 10 very strange things that have happened in just the past few weeks… #1 On Wednesday, the New York Stock Exchange, United Airlines and the Wall Street Journal were all taken down by unexpected “technical glitches“. Authorities are assuring us that hackers were not responsible for any of this. #2 In China, a full-blown stock market crash is unfolding. The Shanghai Composite Index has plummeted more than 30 percent in less than a month, and the Chinese version of the NASDAQ has dropped by more than 40 percent. The amount of “paper wealth” that has been lost in China is 15 times greater than the GDP of Greece. #3 Just the other day, hackers were able to hack into a German surface-to-air missile battery…
#4 Earlier this week, Barack Obama told reports that “we’re speeding up training of ISIL forces“… #5 Just a few days ago, the U.S. Mint announced that they were sold out of American Eagle silver coins on the exact same day that the price of silver hit a new low for 2015. How does that make any sense? #6 On June 30th, an unexpected blood moon was seen over a significant portion of the United States. The following is an excerpt from a recent article by Caiden Cowger…
#7 Even though NASA recently stated that they know of “no asteroid or comet currently on a collision course with Earth” and that “no large object is likely to strike the Earth any time in the next several hundred years“, NASA has teamed up with the National Nuclear Security Administration to try to figure out a way to use nuclear weapons to destroy asteroids that are threatening our planet. If there is no threat, why spend so much time and energy on this? #8 A couple of weeks ago, we learned that Barack Obama has issued 19 “secret directives“. What is Obama planning, and why won’t he let the general public know about it? #9 This week, Pope Francis called for the creation of “a new economic and ecological world order where the goods of the Earth are shared by everyone, not just exploited by the rich.” So exactly what would such a “world order” look like? #10 The Greek people just overwhelmingly voted to reject austerity, so EU officials have responded by giving the Greek government a one week deadline to come to an agreement that will include even more austerity for the Greek people. If the Greek government does not submit, EU officials are threatening them with bankruptcy, the collapse of their banking system and expulsion from the euro. Things promise to only get stranger from here. One week from today, on July 15th, a massive military exercise known as “Jade Helm” begins. More than 1,000 members of the U.S. military will be taking part in drills that will be conducted in the states of Texas, Colorado, New Mexico, Arizona, Nevada, Utah, California, Mississippi and Florida. Then in September comes the end of the Shemitah year, the fourth blood moon of this tetrad, the launch of a radical new sustainable development agenda at the United Nations that is being endorsed by the Pope, and a vote on a UN Security Council resolution that would formally establish a Palestinian state. And that is just the stuff that we know about. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| New Greek Proposal Backtracks To Pre-Referendum Draft, Does Not Request Debt Haircut - Full Text Posted: 09 Jul 2015 06:11 PM PDT There is nothing incrementally new or different to what we revealed earlier in the leaked Greek proposal (i.e., no actionable pension cuts, no debt "reprofiling") and as Bloomberg makes it all too clear in flashing red headlines:
... or the one which 61% of the Greek people said no to. What's worse, the proposal will be promptly deemed as insufficient because as Merkel made clear in the past four days, the old proposal is no longer valid due to the collapse in the Greek economy since capital controls were imposed and will, ironically, have be far harsher to offset the slowdown in the economy. To make things worse, the proposed indirect (no direct ones) pension cuts, and lack of a request for debt relief will be certain to infuriate the Greek population. The broad strokes: a 3 year, €53.5 billion bailout program, including €35 billion of growth measures, lasting through June 30, 2018 requesting funds from the ESM, seeking to finally put the IMF off to the side. The program is heavy on revenue promises and lite on actual spending cuts. Greece hopes to achieve a 1% primary budget surplus in 2015, rising to 2%, 3%, and 3.5% by 2018, all of which are now impossible due to the total collapse of the economy in the past week. Among the tax reform will be a modest increase in corporate tax from 26% to 28%. The changes to the VAT system are as noted previously, keeping the VAT on hotels at 13% but raising it to 23% for restaurants; Greece also promises to eliminate discounts on islands, starting with the islands with higher incomes and which are the most popular tourist destinations. However, it is the pension side where the issues remain, and it is here that once again there is little actual direct reductions. Among the promises, most are the generic fluff previously agreed on: create strong disincentives to early retirement, incur penalties for early withdrawals, make all supplementary pension funds financed by own contributions; and so on. The good news for the Troika is that Greece will seek to "gradually phase out the solidarity grant (EKAS) for all pensioners by end-December 2019" - who will be impacted and when: "the top 20% of beneficiaries in March 2016." In other words another 9 months of non real action. The bad news for the Troika is that Greece will also "freeze monthly guaranteed contributory pension limits in nominal terms until 2021." More in the full proposal, but the truth is that while making some concessions, the Greek proposal may still be insufficient for Merkel, and certainly won't be sufficient for the IMF due to the lack of real pension cuts. Worse, Syriza will have to vote on this proposal tomorrow and explain to the people why nearly two thirds of them just voted No to a deal which the government itself is now hoping will pass. But worst of all, nowhere in the draft sent to creditors is there anything requesting or even hinting about Greek debt haircut, relief or even reprofiling. And all of this will happen as a massive Oxi demonstration takes place in front of government, so be on the lookout for a repeat appearance by the riotcam. * * * Full text below (via Amna) 10/ 07/ 2015
By September 2015, (i) simplify the personal income tax credit schedule; (ii) re-design and integrate into the ITC the solidarity surcharge for income of 2016 to more effectively achieve progressivity in the income tax system; (iii) issue a circular on fines to ensure the comprehensive and consistent application of the TPC; (iv) and other remaining reforms as specified in ¶9 of the IMF Country Report No. 14/151.
4. Pension reform
Moreover, in order to restore the sustainability of the pension system, the authorities will by 31 October 2015, legislate further reforms to take effect from 1 January 2016; (i) specific design and parametric improvements to establish a closer link between contributions and benefits; (ii) broaden and modernize the contribution and pension base for all self-employed, including by switching from notional to actual income, subject to minimum required contribution rules; (iii) revise and rationalize all different systems of basic, guaranteed contributory and means tested pension components, taking into account incentives to work and contribute; (iv) the main elements of a comprehensive SSFs consolidation, including any remaining harmonization of contribution and benefit payment rules and procedures across all funds; (v) abolish all nuisance charges financing pensions and offset by reducing benefits or increasing contributions in specific funds to take effect from 31 October 2015; and (vi) harmonize pension benefit rules of the agricultural fund (OGA) with the rest of the pension system in a pro rata manner, unless OGA is merged into other funds. The consolidation of social insurance funds will take place by end 2017. In 2015, the process will be activated through legislation to consolidate the social insurance funds under a single entity and the operational consolidation will have been completed by 31 December 2016. Further reductions in the operating costs and a more effective management of fund resources including improved balancing of needs between better-off and poorer-off funds will be actively encouraged.
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| Jade Helm Alert: Military Denies Media Requests To Cover "Texas Takeover" Posted: 09 Jul 2015 05:40 PM PDT Between Greece's tragic, Berlin-mandated descent into the Third World and the epic meltdown in China's equity markets, it would be easy to forget that the US government is (re)annexing Texas next week. For those unaware (or for anyone who might have lost track of the US Spec Ops schedule), the military is set to kick off Jade Helm 15 next Wednesday, which means the Lonestar lockdown is less than one week away. If you're unfamiliar with the operation, here are the barebones basics:
On the surface, that doesn't sound too exciting, but thanks to some very unfortunate wording in an official US military slide deck and an even more unfortunate map which designates Texas as "hostile" territory (of course the same map also identifies San Diego as harboring a militant insurgency, so the US Spec Ops Command probably assumed it wouldn't be taken literally) quite a few Texans came to believe that the federal government was up to no good with Jade Helm. The situation quickly spiraled out of control and became a veritable media circus after Texas governor Greg Abbott called up the state guard and "Texas Ranger" Chuck Norris pledged to defend the state from a Navy SEAL incursion. Topping it off was former Texas lawmaker Todd Smith — a 16-year veteran of the Texas House of Representatives and self-proclaimed Last of the Fact-Based Republican Mohicans — who, in a letter to Abbott, suggested that anyone who was suspicious of the federal government's intentions in the state was a "hysterical idiot." With just six days to go until the government begins the exercise, expect the rumor mill to come alive because as The Washington Post reports, the media will be given no access to the drills. Here's more:
Got that? Basically, WaPo reasons that because one Kevin Maurer (reporting for OurState.com) was allowed to observe the imaginary overthrow of a made-up country called "Pineland" two and a half years ago in "backyard theaters of war across central North Carolina", the paper should be allowed to observe whatever is or isn't going on in Texas. In any event, it's clear that the military is intent on keeping prying eyes away from Jade Helm. We'll leave it to readers to decide what that says about government accountability and transparency. And to the US Spec Ops Command we say this: just because you've kept the media out, doesn't mean no one is watching…
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| Economic Collapse 2015 -- U.S. Jobless Claims Climb 15K to 297K Posted: 09 Jul 2015 05:30 PM PDT July 9 -- More Americans than forecast filed for unemployment benefits last week, representing a pause in the pace of labor-market improvement. Bloomberg's Vonnie Quinn reports on "Market Makers." The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Price Fell $4.30 or 0.37 Percent Closing at $1,159.00 Posted: 09 Jul 2015 05:23 PM PDT
Last three days silver has left a pretty tracery of spike down and two strong up days, but it still needs to CLOSE for two days above $15.50. Shortening physical supply (rising silver prices) whispers that buying pressure keeps pushing up the price. Like silver, the GOLD PRICE shows a plunge down followed by two up days. However, credibility does not return until it crosses $1,170 and stays there two days. One last spike down would be a great place to buy. In the end, price answers every question in markets. Regardless how supply moves or who is buying or how much, if it doesn't show in the price, it means nothing. Well I remember 2008, when silver dropped to $8.80 and gold to $705, but you couldn't get ANY physical without an eight week delay. The physical silver market went to a 50% premium over the paper price. In other words, the paper price on Comex might have been $8.80, but if you wanted physical in your hand, you paid $13.20 and waited. Precisely the same situation is creeping into silver now. On 30 June US 90% silver coin cost 220c/ounce over spot silver, and silver American Eagles 230c over. Today US 90% costs 285c over and silver Eagles 270c and the Mint has suspended deliveries. Once again as in 2008, physical silver is tugging against the paper price. One thing scarier than a market cascading is a market that rallies and then lets go the gains. Dow today rallied nearly 250 points, but lost it all but 33.2 points to end up on 0.19% at 17,548.62. S&P500 played out the same role, holding on to only 4.63 points (0.23%) at 2,051.31. BOTH remain below their 200 DMA. Rollover downward is confirmed. US dollar index rose 32 basis points (0.33%) to 96.79. Dollar index's reluctance to take off after a technical breakdown could be explained many ways, but Occam's Razor, which shaves mighty close, says the most obvious cause is the most likely, so point to the Nice Government Men. None of the central banks want a panic into the dollar. I missed the yen yesterday, which hit 83.05, but it fell back 0.55% today to 82.39. It has now broken back up into the trading range it fell out of and is above its 20 and 50 DMAs. That's progress, I reckon. Inflation markets, which had taken a beating earlier this week, appear perkier. Oil made the first half of a key reversal on Tuesday but failed to turn the key on Wednesday. Today it rose. It's a market to stay away from, likely to tumble more. Copper tumbled horribly on Monday and Tuesday, clean town to $2.38, then yesterday posted the first half of a key reversal and the second half today with a much higher (2.33%) close at $2.55. Mixed signals. Markets don't know whether the world's about to end or business will get better. Aurum et argentum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2015, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| BREAKING: Iran Nuke Deal May be Reached Within Hours Posted: 09 Jul 2015 05:00 PM PDT Iran Nuke Deal may be reached in hours, Russian Official Says The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NYSE Shutdown a Signal on What's Coming on 9/23 2015 - Be Prepared Posted: 09 Jul 2015 04:30 PM PDT The CNN report about the closing of the stock exchange points us to what is coming on 9/23 The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| First Gold Manipulation, Now Silver? - Lead Researcher In Libor Case Posted: 09 Jul 2015 04:14 PM PDT  Guest(s): Rosa Abrantes-Metz After suggesting there was collusive behavior in the gold market in a draft research paper that made headlines, economist and professor, Rosa Abrantes-Metz is shifting her focus to silver.
Joining Kitco News in studio, Global Economics Group's managing director talks about her new study, which highlights unusual trading patterns in silver futures markets. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NYSE United Hack Attack? Black Swan Scenario | Fabian Calvo Posted: 09 Jul 2015 04:00 PM PDT This Friday Fabian is hosting a brand new webinar on the 4 new rules of real estate. The market is getting close to surpassing 07-08 values and which will eventually trigger the biggest collapse in housing prices in American history. Find out how you can profit virtual from these major market... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Greg Mannarino : Market Rigging Hits New Levels Posted: 09 Jul 2015 03:00 PM PDT BEYOND THE TWILIGHT ZONE. Market Rigging Hits New Levels. By Gregory Mannarino The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Harry Dent : The Collapse has Started , The Stocks Are In Free Fall Posted: 09 Jul 2015 02:00 PM PDT On this Wednesday, July 8th Jakari Jackson breaks down the stock market "glitch, then the 2nd Amendment and how gun sales spiked in June, then a special report where Jakari asks people to name their rights and finally an interview with a shark wrangler. The Financial Armageddon... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Daily and Silver Weekly Charts - Some Group Is Sitting On These Markets Posted: 09 Jul 2015 01:38 PM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ron Paul: The Whole Thing Is Coming Apart Posted: 09 Jul 2015 12:21 PM PDT All of our politicians are led around by bureaucrats..money is a key factor these idiots are pure evil..they don't care about anything else.or anyone else Greece is the very first country to suffer this economic collapse. They will be in the history books as such. And they,in my view,are the first... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 09 Jul 2015 12:08 PM PDT Jim, This says it all, about how our government treats us! Bigger Jackpot in total dollar terms for the government, harder for consumer to win, BUT… easier to win a measly $4.00. When I visited Germany years ago, they had a different Lotto system. The maximum you could win was $2 million. If there were... Read more » The post Jim’s Mailbox appeared first on Jim Sinclair's Mineset. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NYSE Second Big Computer Glitch -- Could be The Beginning of a World Collapse Posted: 09 Jul 2015 11:48 AM PDT Proof 7-8-15 Was No Mistake-We Only Have Months! A Chilling Glimpse of What Is Coming Per yesterday's events with the hour hour long shutdown of the NYSE, United Airlines, Power outages everywhere, flooding, and droughts, I don't believe it was just a 'glitch' or a 'fluke'. I personally... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| America's Economic Meltdown starts from Puerto Rico Posted: 09 Jul 2015 11:20 AM PDT The Fall of Puerto Rico. Prepare Yourself Accordingly Puerto Rico's economy is in a death spiral and it could threaten the entire United States bond market. How did we get to this point and what does this mean in the big picture? Stefan Molyneux breaks down the unspoken facts about the end... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Roberts and Kranzler: Are big banks using derivatives to suppress bullion prices? Posted: 09 Jul 2015 10:23 AM PDT By Paul Craig Roberts and Dave Kranzler We have explained on a number of occasions how the Federal Reserve's agents, the bullion banks (principally JPMorganChase, HSBC, and Scotia) sell uncovered shorts ("naked shorts") on the Comex (gold futures market) to drive down an otherwise rising price of gold. By dumping so many uncovered short contracts into the futures market, an artificial increase in "paper gold" is created, and this increase in supply drives down the price. This manipulation works because the hedge funds, the main purchasers of the short contracts, do not intend to take delivery of the gold represented by the contracts, settling instead in cash. This means that the banks that sold the uncovered contracts are never at risk from their inability to cover contracts in gold. At any given time, the amount of gold represented by the paper gold contracts ("open interest") can exceed the actual amount of physical gold available for delivery, a situation that does not occur in other futures markets. In other words, the gold and silver futures markets are not where people buy and sell gold and silver. These markets are where people speculate on price direction and where hedge funds use gold futures to hedge other bets according to the various mathematical formulas that they use. That bullion prices are determined in this paper, speculative market, and not in real physical markets where people sell and acquire physical bullion, is the reason the bullion banks can drive down the price of gold and silver even though the demand for the physical metal is rising. ... ... For the remainder of the commentary: http://www.paulcraigroberts.org/2015/07/08/big-banks-using-derivatives-s... ADVERTISEMENT USAGold: Coins and bullion since 1973 USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business. Please call 1-800-869-5115x100 and ask for the trading desk, or visit: USAGold: Great prices, quick delivery -- all the time. Join GATA here: New Orleans Investment Conference http://noic2015.eventbrite.com/?aff=gata The Silver Summit and Resource Expo 2015 http://cambridgehouse.com/event/50/the-silver-summit-and-resource-expo-2... Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference: https://jeffersoncompanies.com/landing/2014-av-powell Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Why Most Investors Are Wrong About Oil — And How It Can Pay You 5.1% Posted: 09 Jul 2015 08:11 AM PDT This post Why Most Investors Are Wrong About Oil — And How It Can Pay You 5.1% appeared first on Daily Reckoning. Dear Resource Hunter, Sometimes investors do things that don’t make any sense at all…
These are some of the ways investors can either miss out on opportunities or take unnecessary losses. The good news is that wise investors who pay attention can often capitalize on the mistakes other investors make. And today I want to show you a deeply misunderstood area of the market that lets you profit from the mistakes other investors are making. I want to explain why I believe stocks in this sector have been trading lower, and why I want to buy more shares at today's cheap prices… Three Reasons Pipeline Stocks Are Trading Lower Energy pipeline companies operate oil and natural gas pipelines in the U.S. and have benefited from the dramatic increase in domestic natural gas and oil production. The more oil and gas we produce, the more product flows through this network of pipelines. And since the companies charge their customers based on the volume of oil or gas being transported and the distance that the oil and gas must travel, the pipeline companies make profits whatever the price of oil and gas is. These pipeline companies traded sharply higher at the end of last year. But so far in 2015, these stocks have given up some of their gains, for reasons you're about to see. First, let’s take a look at three mistakes investors have made with these stocks. Then I want you to make sure you're invested in one of these lucrative income opportunities. Mistake #1: Selling All Energy Stocks It’s no secret oil prices are sharply lower than they were a year ago. The U.S. has been tapping into shale rock formations with a technique called “fracking,” which has led to much higher production. Saudi Arabia countered by pumping record amounts of oil, hoping to put the “frackers” out of business by lowering oil prices. And oil prices are down more than 45% from the 2014 peak of $108.59 per barrel, meaning smaller profits for oil producers. So investors have responded by selling all their energy stocks. It's "sell, sell, sell" for anything energy related. But not all energy stocks are the same! For example, pipeline companies aren’t hurt by lower oil prices at all. In fact, many of these companies are making larger profits because they're pumping more oil. Remember, they get paid by the volume of oil they transport. So investors are throwing the baby out with the bath water as they ditch their energy stocks. This indiscriminate selling has sent pipeline stock prices lower. But the businesses remain very strong. The market will figure that out soon enough. Mistake #2: Expecting Saudi Arabia to Win Saudi Arabia wants to put U.S. oil producers out of business. Their hope is that oil prices drop so low that U.S. energy producers will quit drilling. Saudi Arabia can then sell more oil to the U.S. and keep a large portion of the global oil market. Some investors have sold shares of pipeline stocks because they believe Saudi Arabia will be successful in putting shale producers out of business. These investors think less oil will flow through pipelines when U.S. production drops. The problem with Saudi Arabia’s strategy is that U.S. energy producers are becoming more efficient. A U.S. shale well costs less to drill and can be drilled much more quickly than a year ago. Take a look at the chart below to see just how efficient U.S. drillers have become.
With costs per well decreasing, U.S. drillers can continue profiting, even at lower oil prices. So oil should continue flowing through U.S. pipelines and profits should remain high. Once investors realize that, I expect pipeline stock prices to trade higher again. Mistake #3: “Reach for Yield” Fears We’ve talked about the “reach for yield” that's occurred over the last several years. The Fed cut rates to near zero, forcing income investors to sell bonds and deposit accounts and buy dividend stocks. Low interest rates helped drive blue chip dividend stock prices higher as conservative investors rushed to buy. But today many are concerned these conservative investors will sell these blue chip dividend stocks when rates rise. These conservative investors will then buy bonds and CDs that pay higher rates of interest. It's a legitimate concern — and that's why we don’t hold many “traditional” dividend stocks in the consumer staples or utilities sectors. But this concern doesn't apply to pipeline stocks. Investors who'd normally be holding bonds or CDs didn't decide to buy pipeline companies. Instead, they bought shares of Procter & Gamble or Duke Energy. Now some investors are selling pipeline stocks because they're afraid other investors will sell when rates rise. This is a good example of being too smart for your own good. These investors are afraid of monsters under the bed — and their fears are unfounded. Buy Pipelines While Prices Are Low U.S. pipeline companies are still in great shape. Investors are seeing solid profits with pipeline stocks, and collecting lucrative income from them. And the recent decline in the stock prices has given us another opportunity to own these companies at attractive prices. One of my favorite pipeline stocks is Enterprise Products Partners (EPD: NYSE), going for about $30 a share with a 5.10% dividend. I recommend you put them in your portfolio before they start trading higher. Zach Scheidt Zach Scheidt P.S. Ever wonder how you can make a lot of money from oil without owning a well? Or whether or not you should buy gold and silver? Or is fracking just a flash in the pan? Get insight, insider scoops and actionable investment tips twice a week with Daily Resource Hunter? Just click here for a FREE subscription! The post Why Most Investors Are Wrong About Oil — And How It Can Pay You 5.1% appeared first on Daily Reckoning. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 09 Jul 2015 07:04 AM PDT This post Computer Glitches All Around! appeared first on Daily Reckoning. Today's Pfennig for your thoughts… Good day, and a tub thumpin’ Thursday to you! Well, it’s Thursday and tonight is the deadline for the Greeks to show their potential creditors just how they propose to pay them back. I told you yesterday, that the Greek proposal had better contain spending cuts, higher taxes and reforms to pensions, or else I believe the creditors will send them packing. Remember, 74% of the population in Greece wants to remain in the euro. They were just blinded by the light wrapped up like a deuce, and so on, when they voted no to austerity measures last Sunday. They want their cake and eat it too, and guess what? They’re not going to get that any longer, so they had better be ready to buck up, and respond like a recruit in boot camp… Yes sir, may I have another! The currencies are mixed this morning, but really in place where they were for the most part yesterday. The Chinese renminbi was allowed to appreciate, after the Chinese stock market saw a recovery rally. I have some more on China in a bit, but first let’s go through the usual currency roundup. Gold finally found a bid yesterday, and has found another one this morning as the shiny metal is up $4 as fat fingers fly across the keyboard! The Russian ruble which has been on a one-way trip to weaker levels in recent weeks, is seeing a recovery this morning. I think that this rally is in conjunction junction what’s your function, with the Chinese stock market recovery rally. In fact, as you look around the globe, European stocks, Japanese and so on, all recovered a bit on the China news. I had to laugh this morning, because some snarky (I respect them for that!) writer at Bloomberg, decided to take a shot a China and their push to make the renminbi a reserve currency. The writer points out how he feels that the huge sell off of the Chinese stock market, as shown China’s weakness, and therefore they couldn’t have a reserve currency. Hmmm, by that argument, then the U.S. shouldn’t have one either, I seem to remember stock market selloffs here in 1987, 2001, 2008, and those are just in the recent years! Strange way to view things if you ask me. Shouldn’t stocks go up and down? They can’t go up forever, and were investors really thinking that Chinese stocks would go up forever? Of course that same question should be asked of investors of U.S. stocks, but I don’t want to spend the day talking about stocks movements, only just to point out that a stock sell off isn’t an indication that a country is not worthy. How they respond to the selloff, or better yet don’t respond to it, is the key! I guess, this is just as good a place as any to tell you what I wanted to talk about regarding China. First of all, longtime readers know that I’m friends and have played guitars together with Steve Sjuggerud, the well-respected analyst that writes for Stansberry Research. Steve is what I consider to be a very intelligent mind and usually sees things long before other analysts even get a sniff of what he sees. So, it was very interesting to see him in a video yesterday, talking about what he feels is going to be a game changer coming in October. I’ll tell you basically what he said in the video, but I’ll also give you the link to the video, it’s long, but very interesting. Steve believes that the IMF is sure to add the Chinese renminbi/yuan to their basket of reserve currencies. Because this will be the first time the renminbi is added it will require billions of investments into renminbi, and Steve believes that those funds will come from U.S. dollars, therefore he believes this will be the currency move of a decade. Pretty strong words from Steve. You usually don’t hear him talking this strongly about something, but in the video he states that this will be the biggest thing in currencies in his 35 years of participating in the markets. So, he’s really sure about this. Now this is different than the analysts calling for a collapse of the financial system that would also occur in October. Steve points out all the billions that were lost when the Swiss franc dropped the peg to the euro cross in January, and the franc is very small in size compared to the billions that will be traded in dollars and renminbi. So, here’s the video link. The whole thing about this video is the fact that Dr. Steve Sjuggerud thinks the IMF is going to add renminbi this October, and that’s the most important thing to take out of this. Watch it here. Well, the FOMC meeting minutes from their June meeting printed yesterday. And from what I could gather from them, the FOMC is more tentative about hiking rates than they led us to believe in the press conference following the meeting in June. They said they had an eye on global developments.. Well, if they had “an eye” on them, then they probably have both eyes on global developments now! In fact, in reading the minutes, I found the FOMC to be downright insecure about everything. Which is how they should be, and stock all that crazy talk about hiking rates two more times this year! Well, seeing how the markets began to react to these minutes, Fed member Williams came out in an effort to preserve the 2 rate hikes before year-end message, and said that he “still sees two hikes by year-end, but is in a “wait-n-see” mode until he sees evidence that inflation is moving back to 2%.” You’ve got to love these Fed guys, they tell you one thing, and then soften the blow with an additional statement. Williams is a middle of the road guy, not a ultra-dove or ultra-hawk, so hearing this from him got the rate markets back on track, and U.S. Treasury 10-year yields started to move higher once again. A slight move, but a move higher nonetheless… But, the most important thing from the FOMC meeting minutes and the Williams reminder of two more rate hikes by year-end, is that the FOMC was feeling insecure about things, and if they were insecure about things three weeks ago, they are probably really insecure now! At one point last night, the Japanese yen was the best performing currency vs. the dollar, but it was as if suddenly Traders did the V-8 head slap and said, “what the heck are we doing?” And that pole position as best performer on the night was quickly taken away from the yen. And we’re back to where we were yesterday morning with yen. I have to say that while things in Japan haven’t really changed, I still believe the country to be a basket case, the recent data shows things looking a bit better there, and flows into the country are picking up, probably from China, but picking up, so the small healing in the yen that’s taken place recently is probably warranted, for now, that is. It’s kind of strange looking at the currency screen and seeing the Aussie dollar (A$) with a gain on the day so far. The gain is small, but a gain nonetheless, and the A$ seems to be dragging the N.Z. dollar/kiwi along, as kiwi was in the red when I turned the screens on this morning but is now on the positive side of the ledger. The poor A$ has seen so much negative stuff said about it recently, that I’m surprised to see it with a gain this morning. I wouldn’t get too lathered up about this gain this morning, I’m sure any signs of a sustained rally would be squashed like the bug on your windshield by the Reserve Bank of Australia (RBA) in a NY minute! So, how about those “outages” yesterday here in the U.S.? We had United Airlines flights grounded by a “computer glitch”, and then the NY Stock Market had to shut down because of a “computer glitch.” I find that to be too eerily close together, don’t you? I was leaving the office yesterday, and mentioned to the good folks on my side of the office, as I passed them, I told them that the news from the TV was that the NY stock market close was just a “computer glitch” and not a cyber-attack. Lucy then asked me, “Do you believe that?” and I said, “No, I don’t believe anything the media or the government tells me, on face value, and neither should you!” They all had a good laugh, as I walked out the door. The U.S. data cupboard is pretty barren today, with only the usual tub thumpin’ Thursday fare of weekly initial jobless claims on the docket. Yesterday’s data cupboard had the aforementioned FOMC minutes, but also the consumer credit (read: debt) numbers, and May’s numbers were better than April’s for sure! April’s number was an upward revised $21.397 billion vs. May’s $16.086 billion. Let’s not fool ourselves here folks. $16 billion in a month is still way too much to add onto debt loads that are already pushing the limits of what should be accepted. And gold… finally finding a bid, or wind for its sails. And silver, after seeing it get whipped around on a day when the U.S. Mint suspended sales of American Eagle silver coins, because of lack of supply vs. demand, is finally trading up too. The suspending of the A.E. silver coins by the U.S. Mint was an interesting topic of discussion on the desk yesterday. Our metals guru, Tim Smith was shaking his head in disgust, Aaron Stevenson was getting quite heated with the thought that one point during the previous day silver was down 1 full dollar. I tried to calm them all down, but you know me, I’m the one that started the whole discussion! HA! I found this in Ed Steer’s new letter this morning, and he directed me to an article on KITCO’s website, and the whole thing can be viewed here. German investors have been jumping into gold, protecting themselves against a free-falling euro and geopolitical uncertainty, according to European precious metals dealer Degussa. Earlier this week, the company said in a press release that sales of gold bars and coins increased more than 50% in the first half of the year, compared to the first six months of 2014. Total sales equaled more than ?700 million. According to the company, one of the most popular product among German investors has been the South African Krügerrand gold coins. Chuck again. Well, again, I point to physical buying of gold, and still it loses ground from the paper sales– which I will remind you are larger in size of ounces that are short than there is gold or silver above the ground. How on earth is that not regulated better than it is? That’s it for today… I hope you have a tub thumpin’ Thursday! Regards, Chuck Butler P.S. The Daily Pfennig is first published everyday, right here. Editor's Note: Be sure to sign up for The Daily Reckoning — a free and entertaining look at the world of finance and politics. The articles you find here on our website are only a snippet of what you receive in The Daily Reckoning email edition. Click here now to sign up for FREE to see what you're missing. The post Computer Glitches All Around! appeared first on Daily Reckoning. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold and Silver Stocks Game Plan Posted: 09 Jul 2015 03:55 AM PDT Tonight I would like to update you on some precious metals charts we've been following very closely to shed some light on where we're at and where we maybe heading. When investing in the markets we need to have a game plan to follow so that we know when the game changes we have to change. As long as the game plan is working you stick with it until you've reached your price objectives or the trend changes. Believe me it's not at all easy to follow a game plan. There are things that happen to a stock or market on a daily basis, that we have no control over, that can affect our thinking. Without a game plan to follow we are at the mercy of every little wiggle a stock makes. One has to have a certain amount of confidence in whatever trading system they use to be able to ride out the wiggles that can whipsaw you to death if you act on every move a stock makes. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pershing Gold NASDAQ Uplist Is Part of Larger Resource Expansion and Production Push Posted: 09 Jul 2015 01:00 AM PDT Catalysts can drive stock prices, and Pershing Gold has had quite a few lately, including a stock split, uplisting to NASDAQ and an updated resource estimate on the Relief Canyon Mine in Nevada. And in this interview with The Gold Report, CEO Steve Alfers says there is still more to come for the near-term producer. An economic study and more resource updates are planned by the end of the year. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| China, Greece and the NYSE: Black Swans or Red Flags? Posted: 09 Jul 2015 01:00 AM PDT Scary. That is the word that kept coming up over and over as the news came in this week. Greece technically defaulted. The Shanghai Composite index dropped some 30%. And then a computer glitch caused the NYSE to be down for three hours. Are these headlines just blips on the equities markets? Do they have long-term implications for resource stocks? To answer these questions, we did what we do best at The Gold Report and asked the experts what is causing all the black swans and what they are doing to protect themselves. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Prospects for the Euro After the Greek Tragedy Concludes Posted: 08 Jul 2015 05:00 PM PDT As the situation with respect to Greece developed in recent days, the euro fluctuated within a surprisingly narrow range versus the US dollar. During the second quarter, the euro actually strengthened as prospects for avoiding a Greek default deteriorated. |
In the media warm-up for Wednesday's UK budget, we were told of Britain's poor productivity and Chancellor Osborne subsequently confirmed that his priority is to address it.
The ‘owners per ounce’ for silver is trending a bit higher, thanks to the enormous open interest.
Where do I start? Obviously, yesterday's afternoon's announcement that the U.S. Mint is again suspending Silver Eagle sales is atop my list – which, by the way, emerged while I was editing "
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