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Thursday, August 6, 2015

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Barrick Gold (ABX) Q2 2015 Results - Earnings Call Transcript

Posted: 06 Aug 2015 12:37 PM PDT

The Economic And Financial Problems In Europe Are Only Just Beginning…

Posted: 06 Aug 2015 11:00 AM PDT

The greatest financial crisis that Europe has ever seen is coming, and it is going to shake up the entire planet.   From End of the American Dream: Right now, the financial world is focused on the breathtaking stock market crash in China, but don't forget to keep an eye on what is happening in […]

The post The Economic And Financial Problems In Europe Are Only Just Beginning… appeared first on Silver Doctors.

Gold Investing Lacks 5 Key Drivers, Seen Sub-$1000 Post-Fed Hike as Bank of England Delays, US Jobs Data Awaited

Posted: 06 Aug 2015 10:47 AM PDT

Bullion Vault

Gold Downtrend Resistance is Near 1110 on NFP Friday

Posted: 06 Aug 2015 10:42 AM PDT

Fund Manager: Massive Shortages in Physical Gold Developing

Posted: 06 Aug 2015 10:32 AM PDT

The signs are EVERYWHERE…     Submitted by PM Fund Manager Dave Kranzler, Investment Research Dynamics: Renowned gold expert James Turk says prolonged gold backwardation like we are seeing now, where the spot price is higher than the future price, has never happened before. Turk contends, "No, never, and I am a student of monetary […]

The post Fund Manager: Massive Shortages in Physical Gold Developing appeared first on Silver Doctors.

Nomi Prins: Fed Trapped in Money Printing Policy

Posted: 06 Aug 2015 10:05 AM PDT

Readers should pay careful attention to the remarks Nomi Prins makes early in this interview about the reception Nomi got at the US Fed when she made her presentation there recently. Notice that she herself was surprised to be invited to speak. She points out that she told the Fed officials she was opposed to […]

The post Nomi Prins: Fed Trapped in Money Printing Policy appeared first on Silver Doctors.

How UBS Sent Millions to the Clintons After Hillary Saved the Mega Bank While Secretary of State

Posted: 06 Aug 2015 10:00 AM PDT

From that point on, UBS's engagement with the Clinton family's charitable organization increased. Total donations by UBS to the Clinton Foundation grew from less than $60,000 through 2008 to a cumulative total of about $600,000 by the end of 2014, according the foundation and the bank.    Submitted by Michael Krieger, Liberty Blitzkrieg: A few […]

The post How UBS Sent Millions to the Clintons After Hillary Saved the Mega Bank While Secretary of State appeared first on Silver Doctors.

Silver Institute to expand Silver jewellery promotiion scheme

Posted: 06 Aug 2015 08:47 AM PDT

Currently silver jewelry companies selected to participate in Savor Silver are designated as Designers of Distinction or SilverMark Partners. New participants will be identified as Silver Style Partners.

Gold Bullion Demand In ‘Chindia’ Heading Over 2,000 Tons Again

Posted: 06 Aug 2015 08:47 AM PDT

gold.ie

Revolving Door on Steroids – New Bank of England Policymaker Allowed to Retain Financial Interest in Hedge Fund

Posted: 06 Aug 2015 08:00 AM PDT

Today's article takes the revolving door theme to a whole other level.   Submitted by Michael Krieger, Liberty Blitzkrieg: Can't a guy enjoy a beautiful Friday in Colorado without being bombarded with another gigantic oligarch scam? I guess not. Today's article takes the revolving door theme to a whole other level. It even puts the […]

The post Revolving Door on Steroids – New Bank of England Policymaker Allowed to Retain Financial Interest in Hedge Fund appeared first on Silver Doctors.

IMF and BIS Systemic Risk Warnings

Posted: 06 Aug 2015 07:00 AM PDT

Over the past year and a half, we have documented numerous warnings which the IMF and the Bank for International Settlements (BIS) have issued in regards to risks that exist to the stability of the global financial system. Below is a list of links to those warnings:    Submitted by Larry White: Below is a […]

The post IMF and BIS Systemic Risk Warnings appeared first on Silver Doctors.

India likely to import 1000 tons of Gold in FY16

Posted: 06 Aug 2015 06:45 AM PDT

India's July imports are expected to be between 70 and 75 tons, and its August imports is more than 75 tons.

Gold Bullion Demand In ‘Chindia’ Heading Over 2,000 Tons Again

Posted: 06 Aug 2015 06:43 AM PDT

The recent lower prices in gold have not deterred investors internationally from buying gold coins and bars in large volumes again. Indeed the Perth Mint and the US Mint are struggling to fulfill demand for gold coins and bars. This is particularly the case in the eastern hemisphere – especially in India and China – […]

The post Gold Bullion Demand In 'Chindia' Heading Over 2,000 Tons Again appeared first on Silver Doctors.

Something Snapped Again Behind “The Curtain”

Posted: 06 Aug 2015 05:00 AM PDT

While financial tv clowns might attribute Tuesday’s sell-off to the Atlanta Fed's Lockhart issuing a statement that September is the right time to raise rates, that was not the catalyst…   Submitted by PM Fund Manager Dave Kranzler, Investment Research Dynamics: While the movement in AAPL stock may have affected the first 30 minutes of trading […]

The post Something Snapped Again Behind "The Curtain" appeared first on Silver Doctors.

Pennsylvania to Become First State to Use “Precrime” Statistics in Criminal Sentencing

Posted: 06 Aug 2015 05:00 AM PDT

Pennsylvania is on the verge of becoming one of the first states in the country to base criminal sentences not only on what crimes people have been convicted of, but also on whether they are deemed likely to commit additional crimes.   Submitted by Michael Krieger, Liberty Blitzkrieg: Criminal sentencing has long been based on […]

The post Pennsylvania to Become First State to Use "Precrime" Statistics in Criminal Sentencing appeared first on Silver Doctors.

Will gold miners hedge, like the 1990s, into a falling price?

Posted: 06 Aug 2015 04:47 AM PDT

Perth Mint

Gold is Still a Falling Knife: Why I Remain Bearish in the Short Term

Posted: 06 Aug 2015 04:43 AM PDT

Gold Stock Bull

US Silver jewellery imports rise in Jan May

Posted: 06 Aug 2015 04:38 AM PDT

U.S. imports from Thailand are up 18.5% through the end of May while China showed an increase of 14% in the same period.

Gold Trading Jumps on 00 Thresholds Drop

Posted: 06 Aug 2015 02:47 AM PDT

Bullion Vault

Will gold miners hedge, like the 1990s, into a falling price?

Posted: 06 Aug 2015 02:27 AM PDT

Reuters recently covered the latest Societe Generale/GFMS gold hedge book analysis report, which noted that "while miners overall remain wary of hedging … those who do favour the strategy are leaning more strongly towards options". The total size of the hedge book has increased from its low of 91 tonnes in Q4 2013 to 193 tonnes at Q1 2015, but it is still massively below its peak of 3230 tonnes in 1999 (see chart below).


A timely study considering Metal Focus was reported yesterday as concluding that "on an [all-in sustaining cost] basis, the proportion of loss-making mines at $1,100 swells to 24%". Metals Focus say that this does not mean that mines will be shut down, as "closing a mine in itself is often a very costly undertaking" and thus "mining companies will often be prepared to operate at a loss in the short term in the hope that commodity prices recover".


For mines running at a loss it may make sense to look at hedging even at current low prices because it provides protection against further gold price falls – extending how long they can continue to operate and thus increasing the chance they will still be around when the price recovers. While this may make sense for each miner individually, it doesn't make sense for the industry as a whole if everyone does it. Let's just hope miners have learnt the lessons of the 1990s.


 [read more]

Canaccord Genuity's Joe Mazumdar Tells Gold Investors to Go Underground to Survive

Posted: 06 Aug 2015 01:00 AM PDT

Unlike many analysts, Joe Mazumdar of Canaccord Genuity does not expect a substantially higher gold price any time soon. So what are hard-pressed gold investors to do? In this interview with The Gold...

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Why for commodities this is already a repeat of the 2008 crash

Posted: 06 Aug 2015 12:15 AM PDT

The price meltdown has pushed as many commodities into bear markets as there were in the month after the collapse of Lehman Brothers, which spurred the worst financial crisis seven years ago since the Great Depression.

Eighteen of the 22 components in the Bloomberg Commodity Index have dropped at least 20 per cent from recent closing highs, meeting the common definition of a bear market. That's the same number as at the end of October 2008, when deepening financial turmoil sent global markets into a swoon…

Gold Set to Test $1000 Support Level

Posted: 06 Aug 2015 12:15 AM PDT

investing

TECHNICAL - Gold Waiting For Directional Catalyst

Posted: 06 Aug 2015 12:15 AM PDT

investing

Analysis: US Fed bears down on gold

Posted: 06 Aug 2015 12:10 AM PDT

digitallook

Comex Gold Futures (GC) Technical Analysis – August 6, 2015 ...

Posted: 06 Aug 2015 12:10 AM PDT

fxempire

Gold Prices August 6, 2015, Technical Analysis

Posted: 06 Aug 2015 12:10 AM PDT

fxempire

Silver Price Forecast: This Indicator Suggests Silver Could Hit $64

Posted: 06 Aug 2015 12:05 AM PDT

profitconfidential

Naysayers still bashing the gold price when will it stop?

Posted: 05 Aug 2015 11:25 PM PDT

The consensus view this August is that everything is fine in stock markets and the Fed can go ahead and raise rates and not much will happen. Gold is the nemesis of this opinion and so gets bashed at every opportunity. Still any contrarian knows you should be buying low and selling the high priced asset and not vice-versa.

ING head of foreign exchange strategy Chris Turner and Brown Shipley chief investment officer Kevin Doran discuss the commodities rout and get gloomy on gold. They speak with Jonathan Ferro on Bloomberg Television's ‘On The Move’…

US dollar overvaluation to worsen against emerging market currencies

Posted: 05 Aug 2015 11:14 PM PDT

Scotiabank senior currency strategist Sacha Tihanyi discusses emerging market currencies and the impact a hike in US interest rates will have on the currency market, and why dollar overvaluation is set to get worse

He speaks to Bloomberg’s David Ingles, Juliette Saly, Shery Ahn and Rishaad Salamat on ‘Asia Edge’…

You Can Add Iraq And Ukraine To The List Of Economies That Are Collapsing

Posted: 05 Aug 2015 07:51 PM PDT

Earth Blue Planet - Public DomainThe list of nations around the globe that have collapsing economies just continues to grow.  In recent weeks I have written about the ongoing saga in Greece, the stock market crash in China, the debt crisis in Puerto Rico and the economic meltdown in South America.  But there are more economic flashpoints that I have not even addressed yet.  For example, did you know that a full-blown economic collapse is happening in Iraq right now?  And did you know that the economy of Ukraine is contracting rapidly and that it cannot pay its debts?  Back in 2008, the financial crisis was primarily centered on the United States, but this time around it is turning out to be a truly global phenomenon.

When the U.S. “liberated” Iraq, the future for that nation was supposed to be incredibly bright.  But instead, things have just gone from bad to worse.  This has especially been true since we pulled our troops out and allowed ISIS to run buck wild.  At this point unemployment in Iraq is at Great Depression levels, the economy is steadily contracting and government debt is spiraling wildly out of control

But Iraq's oil industry, and the government's budget, is being squeezed by low oil prices. As a result, the nation's finances are being hit hard: the market price is now half that needed to break even, expanding the budget deficit, forecast to return to balance until the rise of IS, to a projected 9% of GDP.

In the past, Iraq's leaders approved budgets without seriously taking into account a drop in the price of oil. Now the severe revenue shortfall is forcing leaders to cut back on new investments. Russia's Lukoil, Royal Dutch Shell, and Italy's ENI are also cutting back, eyeing neighbouring Iran's pending economic opening as a safer investment.

Despite improving its finances after the US troop withdrawal, the drop in oil prices and the rising costs of battling IS have pushed Iraq's economy into a state of near-crisis. According to the IMF, the nation's GDP shrank by 2.7% in 2014 and unemployment is estimated to be over 25%.

Things are even worse in another nation that was recently “liberated”.  The new U.S.-friendly government in Ukraine was supposed to make things much better for average Ukrainians, but instead the economy is absolutely imploding

The country's GDP contracted by 6.8 percent last year, and is forecast to shrink by another 9 percent this year — a total loss of roughly 16 percent over two years.

Just like in much of southern Europe, the banks are absolutely overloaded with bad loans and the entire banking system is on the verge of total collapse.  The following comes from a CNN article that was posted earlier this year…

Ukraine’s banking sector is one of the weakest parts of the economy. The key interest rates are the highest in 15 years, and experts estimate bad loans make up between one third and one half of all banking assets.

Over 40 banks have been declared bankrupt since the war began, with the country’s fourth largest lender, Delta Bank, going under earlier this week.

Just recently, the government of Ukraine declared that it could not pay its debts.  We didn’t hear much about this in the United States, because the Obama administration wants us to believe that their policies over there are a success.  But the truth is that Ukraine now needs a “debt restructuring deal” similar to what Greece has received in the past

Progress between Ukraine and its creditors on a $19 billion restructuring may be losing momentum as a proposed high-level meeting was canceled amid further disagreements over terms.

Ukraine's $2.6 billion of 2017 notes fell the most in a month after a person familiar with negotiations said a new offer put forward by Ukraine this week would be unacceptable to bondholders. Later on Wednesday, Ukraine's Finance Ministry said that a Franklin Templeton-led creditor group should prepare an improved offer for meetings next week.

Speaking of Greece, things just continue to unravel over there.  Earlier this week we witnessed the greatest one day stock market crash in Greek history, and there was more financial carnage on Wednesday.  The following comes from the Economic Policy Journal

For a second straight day, following the reopening of the Greek stock market, there were heavy losses in Greek banking stocks, with shares across the sector once again falling by about 30 percent, the bottom of their daily limit.

Bank of Piraeus and National Bank of Greece fell the most, falling by the daily limit of 30 percent t. Alpha Bank was 29.7 percent lower and Eurobank Ergasias lost 29.6 percent.

At this point you would have to be blind to not see what is happening.

A financial crisis is not just imminent – one is already starting to erupt all over the planet.

And none of us can say that we weren’t warned.  In a recent piece, Bill Holter included a long list of ominous financial warnings that were issued over the past two years by either the IMF or the Bank for International Settlements…

July 2014 – BIS –BIS Issues Strong Warning on "Asset Bubbles"

July 2014 – IMF –Bloomberg: IMF Warns of Potential Risks to Global Growth

October 2014 – BIS –"No One Could Foresee this Coming"

October 2014 IMF Direct Blog — What Could Make $3.8 Trillion in global bonds go up in smoke?

October 2014 IMF Report –"Heat Wave"-Rising financial risk in the U.S.

***December 2014 – BIS –BIS Issues a new warning on markets

December 2014 – BIS —BIS Warnings on the U.S. Dollar

February 2015 – IMF – Shadow Banking — Another Warning from the IMF – This Time on "Shadow Banking"

March 2015 – Former IMF Peter Doyle – Don't expect any warning on new crisis -Former IMF Peter Doyle: Don't Expect any Early Warning from the IMF –

*** April 2015 IMF – Liquidity Shock –IMF Tells Regulators to Brace for Liquidity Shock

May 2015 BIS – Need New "Rules of the Game" –BIS: Time to Think about New Global Rules of the Game?

June 2015 BIS Credit Risk Report –BIS: New Credit Risk Management Report

June 2015 IMF (Jose Vinals)  –IMF's Vinals Says Central Banks May Have to be Market Makers

***BIS June 2015 (UK Telegraph) –The world is defenceless against the next financial crisis, warns BIS

July 2015 – IMF – Warns US the System is Still Vulnerable (no blog article)IMF warns U.S.: Your financial system is (still) vulnerable

July 2015 – IMF – Warns Pension Funds Could Pose Systemic Risk (no blog article) –IMF warns pension funds could pose systemic risks to the US

Overall, there are currently 24 nations that are dealing with a major financial crisis right now, and there are another 14 nations that are right on the verge of one.

But even though a global financial crisis is already unfolding right in front of our eyes, there are people that come to my website every day and leave comments telling me that everything is going to be just fine.

So what do you think?

What do you believe the rest of this year will bring?

Please feel free to share your thoughts by posting a comment below…

Gold report Aug 6 2015

Posted: 05 Aug 2015 07:18 PM PDT

Commodity Trader

Video Update: Gold Struggling to Rebound

Posted: 05 Aug 2015 06:04 PM PDT

Gold remains in a $1080-$1100 range. Which way will it break?

 

 

The post Video Update: Gold Struggling to Rebound appeared first on The Daily Gold.

Jim Willie: Commodities Pain Means We’re in the Last State of Dollar Collapse

Posted: 05 Aug 2015 04:45 PM PDT

When the commodities hard assets are showing pain, to me it means we're in the last stage of the dollar collapse. Part 2 of Jim Willie’s MUST WATCH interview with Shadow of Truth is below: (View Part 1 Here)

The post Jim Willie: Commodities Pain Means We’re in the Last State of Dollar Collapse appeared first on Silver Doctors.

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