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Sunday, January 24, 2016

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This Is What The Death Of A Nation Looks Like: Venezuela Readies For 720% Hyperinflation

Posted: 24 Jan 2016 10:54 AM PST

Hyperinflation in Venezuela is forecast to reach a STUNNING 720% in 2016.  Got Gold??? From Tyler Durden, ZeroHedge:  Spiking prices and widespread shortages for even staples have driven discontent in Venezuela. That helped spur the opposition to gain control of Congress for the first time in a decade as President Nicolas Maduro attempts to turn […]

The post This Is What The Death Of A Nation Looks Like: Venezuela Readies For 720% Hyperinflation appeared first on Silver Doctors.

This Is How Quickly Society Will Break Down: “If You Don’t Have Food Yet I Feel Sorry For You”

Posted: 24 Jan 2016 09:33 AM PST

If these pictures of store shelves ahead of Snowmaggedon 2016 are any evidence, society is not equipped for even the most basic crisis.   Submitted by Mac Slavo, SHTFPlan: Record breaking winter snow storms… they might be extreme, but should they really be crippling cities across the country? The Drudge Report is splashed with warnings […]

The post This Is How Quickly Society Will Break Down: "If You Don't Have Food Yet I Feel Sorry For You" appeared first on Silver Doctors.

US Mint AP Warns Silver Eagles Likely to Stay in Allocation For the Foreseeable Future

Posted: 24 Jan 2016 09:01 AM PST

With the Financial System in Chaos, TFMetals’ Craig Hemke Joins the Show to Break Down All the Action, Discussing:  US Mint AP Warns 2016 Silver Eagles Likely to Remain in Allocation INDEFINITELY: “The allocation from the US Mint which we received today was smaller than we expected…. I believe it's now likely that the Mint […]

The post US Mint AP Warns Silver Eagles Likely to Stay in Allocation For the Foreseeable Future appeared first on Silver Doctors.

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BTFD & Sell the Rallies? Gold & Silver Weekly Update

Posted: 24 Jan 2016 08:11 AM PST

Commodites, oil, and equities printed swing lows this week, and bonds printed a swing high.  Its all a pretty orderly transition back to “risk on.”   In spite of this, PM did not do particularly well; gold’s rise still looks like a safe haven move, and silver remains chopping sideways with occasional large spikes both […]

The post BTFD & Sell the Rallies? Gold & Silver Weekly Update appeared first on Silver Doctors.

In Case You Missed It: Top PM Stories of the Week

Posted: 24 Jan 2016 07:00 AM PST

In case you missed it…   Submitted by Smaulgld: The main stories focused on terrorist attacks and the Republican and Democratic presidential primaries. The National Review enlisted conservatives to dump Donald Trump and left wingers started a "stop hate" campaign to stop Trump. On the Democratic side, Hillary Clinton spoke out against the too big […]

The post In Case You Missed It: Top PM Stories of the Week appeared first on Silver Doctors.

If This Weakest, Wobbly Link Snaps…Look Out!

Posted: 24 Jan 2016 06:00 AM PST

The Global Rout Intensifies Everywhere you look, asset valuations are getting completely monkey-hammered…   Submitted by The Wealth Watchman:  Well folks, the Global Stock Market/Trade/Equity/Energy/Credit rout that began with the start of 2016 has continued.  Everywhere you look, asset valuations are getting completely monkey-hammered. I intend to survey the damage, and focus on the weak […]

The post If This Weakest, Wobbly Link Snaps…Look Out! appeared first on Silver Doctors.

Gold In A Non-Zero Interest Rate World

Posted: 24 Jan 2016 04:02 AM PST

Shanghai Gold Exchange Withdrawals in 2015 Rise to 91% of Annual World Gold Production

Posted: 24 Jan 2016 02:02 AM PST

Le Cafe Américain

Absurd Gold-Stock Levels

Posted: 23 Jan 2016 09:01 PM PST

Gold stocks remain the pariah of the investment world.  Despite gold's strong early-year gains, the stocks of its miners have slumped to new secular lows.  This whole forsaken sector continues to languish at fundamentally-absurd price levels, an extreme anomaly that is long overdue to start unwinding.  The gold miners will be bid massively higher to […]

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A Run On The Banks Begins In Italy As Italian Banking Stocks Collapse

Posted: 23 Jan 2016 08:00 PM PST

The Italian financial meltdown that we have been waiting for has finally arrived.   Submitted by Michael Snyder, End of the American Dream:  For quite a long time I have been warning my readers to watch Italy, and now people are starting to understand why. Italian banking stocks continued their collapse for a fifth consecutive […]

The post A Run On The Banks Begins In Italy As Italian Banking Stocks Collapse appeared first on Silver Doctors.

The Rich Are Feeling A Lot Less Rich

Posted: 23 Jan 2016 04:50 PM PST

Pretend for a minute that you’re a member in good standing of the 1%, with a net worth in the tens of millions of dollars. You aren’t deeply involved in the management of this money, but your financial advisers are heavy hitters and they’ve diversified you appropriately. You’ve got equity stakes in most major and several minor markets. You own three or four trophy properties including a flat in a hot section of London. You also have the obligatory pieces of mid-range “fine art” and, for stability, a generous helping of US, European and Japanese government bonds.

For the past few years you’ve felt extremely smart. Your stocks and bonds went up while your real estate and art surged, giving you millions in new paper profits with every quarterly report.

But something happened towards the end of 2015. Your emerging-market funds went down and your developed-world equities stopped rising. And a couple of hedge funds in which you’ve invested reported losses rather than their customary gains.

Nothing to worry about, said your advisers. When one asset class like equities takes a breather, others like real estate and art go up to compensate. Money, after all, has to go somewhere.

But now it’s 2016 and your stocks are cratering (the papers say it’s the worst start to a year ever), with the oil companies whose dividends you were assured were rock-solid standing out among the losers. Looking for a little reassurance, you pick up a Wall Street Journal and the first thing you see is:

Red-Hot Property Markets Cool as Rich Investors Retrench

Demand for high-end homes in London, New York slows as market turmoil hits global investors.

Boom times for London's high-end housing market are over. Deal volume for prime-central London has dropped as much as 40% from a year ago.

LONDON—In August 2014, when the housing market here was on a tear, a two-bedroom condominium in one of the most expensive neighborhoods went up for sale at £3.25 million ($4.64 million), a 67% premium to its purchase price six months earlier.

The redbrick home on Cadogan Gardens in Knightsbridge is still unsold, and expectations have been revised. The price has been cut three times, the latest at the start of this year, to £2.5 million.

"It's a great property," said Sam Spring, a sales broker at the Chelsea office of estate agency Faron Sutaria, of the 1,250-square-foot home with dark walnut floors and high-end appliances. "It's just a very price-sensitive market these days."

In London's priciest neighborhoods, the housing boom is over.

In New York, demand for high-end homes cooled last year, brokers said. In Miami, South American and European buyers could pull back this year due to a stronger dollar, and prices are expected to fall in Hong Kong, Singapore and Paris, Knight Frank said. Swiss lender UBS Group AG said in October that housing markets in Sydney, Vancouver, San Francisco and Amsterdam appear "significantly overvalued."

Luxury housing in London became one of the world's hottest assets. But "the frenzy is gone completely," said Manish Chande, senior partner at U.K. real-estate firm Clearbell Capital LLC. About 18 months ago "everything was going like hot cakes. Today it's the total opposite," Mr. Chande said.

Transaction volumes at the top end of the London market were as much as 40% lower in December from a year earlier, according to U.K. buying agent Property Vision, and inventories of prime properties are mounting. The standoff between buyers and sellers resulted in 2,712 homes over £1 million for sale in prime central London at the end of November, 81% more than in January 2014, according to buying adviser Huntly Hooper Ltd. The difference between initial asking prices and average sales prices in prime central London was at a record 19% in the three months to November, Huntly Hooper data show. The disparity was 9% in the same period last year.

Last year, just a quarter of the 34 homes put up for sale on Cadogan Gardens sold, and almost half were taken off the market, according to Nathaniel Wilde, head of the Sloane Square office for estate agent Hamptons International. On Eaton Place in neighboring Belgravia, home to billionaires and diplomats, only a quarter of the around 50 homes offered were sold, he said.

It was a "tough year on that patch," Mr. Wilde said. "Lots of homes are still sitting there."

As you read this you’re running numbers, calculating losses, and projecting current trends into the near future. Buyers of London penthouses also buy fine art, don’t they, so if they can’t afford the first can they keep bidding up the latter? Probably not. And will laid-off bankers and underwater trophy property owners have to sell their stocks to make ends meet, sending equity prices down even further?

Then you turn the page to find:

Investing in 2016: 'The Only Winning Move Is Not to Play the Game'

The world's central banks can't save us anymore.

That was the message from some of the world's most prominent investors at the World Economic Forum in Davos, Switzerland, on Friday.

Their mood here was irritated, bordering on affronted, with what they say has been central-bank intervention that has gone on too long. From this anecdotal sampling, at least, that has created growing distortions in nearly all asset prices—from stocks to bonds to real estate.

Each was resistant to putting on fresh positions and expected asset prices to head downward. In short, they say, the only winning move is not to play the game.

"The trade now is to hold as much cash as possible," said Nikhil Srinivasan, chief investment officer for Generali, a European insurer with $480 billion in assets. "Equity markets could go down 15% to 20%."

And you think, okay then. It’s time to stop playing the game. Come Monday you’ll tell your people to sell some stocks. No, a lot of stocks. Cash may yield next to nothing, but at least it won’t go the way of Petrobras or Glencore.

Rob Kirby: Come End of 2016, Gold and Silver “Could Be Many Multiples of the Price Right Now”

Posted: 23 Jan 2016 02:05 PM PST

By Greg Hunter, USAWatchdog: Macroeconomic analyst Rob Kirby's predictions of a downward spiraling economy are coming true.  Kirby contends that a collapse isn't coming but is "already happening now." On physical gold and silver supplies, Kirby says, "Gold and silver are not as loved here as in the Asian countries. It's relatively more plentiful here, […]

The post Rob Kirby: Come End of 2016, Gold and Silver “Could Be Many Multiples of the Price Right Now” appeared first on Silver Doctors.

The Last 16 Times This Happened There Was A Recession…

Posted: 23 Jan 2016 01:00 PM PST

As you read this, markets all over Asia, Europe, South America and the Middle East are already in bear market territory.  More than 30 percent of the market has been wiped out in Brazil and Hong Kong, more than 40 percent of the market has been wiped out in China and Italy, and about 50 […]

The post The Last 16 Times This Happened There Was A Recession… appeared first on Silver Doctors.

Lowest Ever: The Baltic Dry Index Plunges To 394 As Global Trade Grinds To A Standstill

Posted: 14 Jan 2016 03:35 PM PST

Container Ship - Public DomainFor the first time ever, the Baltic Dry Index has fallen under 400.  As I write this article, it is sitting at 394.  To be honest, I never even imagined that it could go this low.  Back in early August, the Baltic Dry Index was sitting at 1,222, and since then it has been on a steady decline.  Of course the Baltic Dry Index crashed hard just before the great stock market crash of 2008 too, but at this point it is already lower than it was during that entire crisis.  This is just more evidence that global trade is grinding to a halt and that 2016 is going to be a “cataclysmic year” for the global economy.

If you are not familiar with the Baltic Dry Index, here is a helpful definition from Wikipedia…

The Baltic Dry Index (BDI) is an economic indicator issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index provides “an assessment of the price of moving the major raw materials by sea. Taking in 23 shipping routes measured on a timecharter basis, the index covers Handysize, Supramax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain.”

The BDI is one of the key indicators that experts look at when they are trying to determine where the global economy is heading.  And right now, it is telling us that we are heading into a major worldwide economic downturn.

Some people try to dismiss the recent drop in the Baltic Dry Index by claiming that shipping rates are down because there is simply too much capacity out there these days.  And I don’t dispute that.  Without a doubt, too many vessels were built during the “boom years”, and now shipbuilders are paying the price.  For example, Chinese shipyards reported a 59 percent decline in orders during the first 11 months of 2015…

Total orders at Chinese shipyards tumbled 59 percent in the first 11 months of 2015, according to data released Dec. 15 by the China Association of the National Shipbuilding Industry. Builders have sought government support as excess vessel capacity drives down shipping rates and prompts customers to cancel contracts. Zhoushan Wuzhou Ship Repairing & Building Co. last month became the first state-owned shipbuilder to go bankrupt in a decade.

But that doesn’t explain everything.  The truth is that exports are way down all over the world.  China, the United States, South Korea and many other major exporting nations have all been reporting extremely dismal export numbers.  Global trade is contracting quite rapidly, and I don’t see how anyone could possibly dispute that.

The global economy is a mess, but many people are not paying any attention to the economic fundamentals because they are too busy looking at the stock market.

The stock market does not tell us how the economy is doing.  If the stock market is up today that does not mean that the economy is doing well, and if the stock market is down tomorrow that does not mean that it is doing poorly.

Yes, the health of the financial markets can greatly affect the overall economy.  We saw this back in 2008.  When there is a tremendous amount of panic, that can cause a credit crunch and make it very difficult for money to flow through our system.  The end result is a rapid slowdown of economic activity, and it is something that we will be experiencing again very soon.

But don’t let the day to day fluctuations of the stock market fool you.  Just because the Dow was up 227 points today does not mean that the crisis is over.  It is important to remember that stocks are not going to go down every single day.  On Thursday, the Dow didn’t even regain two-thirds of what it lost on Wednesday.  Even in bear markets there are up days, and some of the biggest up days in stock market history were right in the middle of the crash of 2008.

It is critical that we take a long-term view of things and not let our vision be clouded by every tick up and down in the financial markets.  Initial jobless claims just hit their highest level in about six months, and companies like Macy’s and GoPro are laying off thousands of workers.  Things are already bad, and they are rapidly getting worse.

And let us not forget the great amount of financial carnage that has already happened so far this year.  According to CNBC, approximately 3.2 trillion dollars of stock market wealth was wiped out globally during the first 13 days of 2016…

Almost $3.2 trillion has been wiped off the value of stocks around the world since the start of 2016, according to calculations by a top market analyst.

It has also been the worst-ever start to a year for U.S. equities, said Howard Silverblatt, senior index analyst at S&P Dow Jones Indices, as both the S&P 500 and the blue-chip Dow Jones industrial average have posted their steepest losses for the first eight days trading of a year.

Over the past six months, there have now been two 10 percent “corrections” for U.S. stocks.  The only other times we have seen multiple corrections like this were in 1929, 2000 and 2008.  If those years seem familiar to you, that is because they should.  In all three years, we witnessed historic stock market crashes.

The stunning collapse of the Baltic Dry Index is just more evidence that we have entered a global deflationary crisis.  Goods aren’t moving, unemployment is rising all over the planet, and commodity prices have fallen to levels that we have not seen in over a decade.

Around the globe, there have been dramatic stock market crashes to begin the year, and we should expect to see much more market turmoil during the weeks and months to come.

If the markets have calmed down a bit for the moment, we should be very thankful for that, because we could all use some additional time to prepare for what is coming.

The debt-fueled standard of living that so many of us are enjoying today is just an illusion.  And many of us won’t even understand what we have been taking for granted until it is taken away from us.

A great shaking is coming to the global economy, and the pain is going to be unimaginable.  So let us enjoy every single day of relative “normalcy” while we still can, because there aren’t too many of them left.
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