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- The Full Jan 2016 US Mint Sales Report
- Rob McEwen: $5,000 Gold is Still A Reality!
- Why a Silver Break Out in 2016 is Likely
- AGXIIK is “Hell Bent on Taking the Precious Metals Battle Back to the Banksters”
- Koos Jansen Shreds CPM Group on Chinese Gold Demand
- Atlanta Fed Sees Far Weaker Than Expected Q1 GDP
- It’s Here: “Every Financial Indicator Says We Are In Free Fall”
- Peter Schiff: Gold is Going to SKYROCKET- People Need to Prepare for That Now!
- Gold Price Positive, Extends New Year Jump as Clumsy China Sees Manufacturing Shrink
- It’s On: Economic Activity Is Slowing Down MUCH Faster Than Anticipated
- Sprott’s Thoughts: Buried in the Omnibus $1.1T Spending Bill is a Measure that Benefits US Farmland Prices
- Gold and Silver Bullion Up 5.3% and 3.4% In January as Stocks Fall Sharply
- Mystery Federal Reserve Bank NY Gold Depositor
- Mystery Federal Reserve Bank NY Gold Depositor
- Legendary Investor Eric Sprott Shares the Greatest Financial Lesson He’s Ever Learned
- The Fed’s Normalization and Gold
- Global Stocks Enter Bear Market: One-Fifth Of All Worldwide Stock Market Wealth Is Already Gone
- Short Sellers Back In The Saddle: Q&A With Bearing Asset Management
| The Full Jan 2016 US Mint Sales Report Posted: 01 Feb 2016 01:00 PM PST Just how much gold and silver did the US Mint sell in January 2016 compared to historical data? Submitted by Smaulgld: Silver and Gold Sales at the U.S. Mint in January 2016. Sales of American Silver Eagle Coins in January were 5,926,500. January American Silver Eagle sales limited by U.S. Mint allocations to its Authorized […] The post The Full Jan 2016 US Mint Sales Report appeared first on Silver Doctors. |
| Rob McEwen: $5,000 Gold is Still A Reality! Posted: 01 Feb 2016 12:00 PM PST In the must watch interview below, Rob McEwen explains that investors, fixated on the US dollar price of gold, are missing the big picture. Gold is performing well against almost all other currencies and gold companies are beginning to generate stronger profits. All of the ingredients are in place for the next stage of the bull […] The post Rob McEwen: $5,000 Gold is Still A Reality! appeared first on Silver Doctors. |
| Why a Silver Break Out in 2016 is Likely Posted: 01 Feb 2016 11:00 AM PST Silver prices are bottoming in a seven year cycle which means their next important move is probably up. Further, Silver prices are at support near the bottom of a triangle. A break out seems likely. Submitted by Gary Christenson, Deviant Investor: Central banks have created a mess, unless you enjoy unemployment, crashing economies, a […] The post Why a Silver Break Out in 2016 is Likely appeared first on Silver Doctors. |
| AGXIIK is “Hell Bent on Taking the Precious Metals Battle Back to the Banksters” Posted: 01 Feb 2016 10:30 AM PST Why is gold and why is silver demonized with crushed values, daily manipulation of prices and constant propaganda against its use, categorizing it as a barbarous relic? Because it represents the last man standing, a Horatio at the Gate, fighting a constant rear guard action against the soldiers of the banksters and central banks with […] The post AGXIIK is “Hell Bent on Taking the Precious Metals Battle Back to the Banksters” appeared first on Silver Doctors. |
| Koos Jansen Shreds CPM Group on Chinese Gold Demand Posted: 01 Feb 2016 10:00 AM PST In my 20-minute presentation I clearly explained why I think Chinese gold demand is not what mainstream consultancy firms (GFMS, WGC, Metals Focus, CPM Group) would like you to believe. (surprise, surprise…) The recording of my presentation on Chinese gold demand is not allowed by Scotiabank to be republished on YouTube. So what I did is […] The post Koos Jansen Shreds CPM Group on Chinese Gold Demand appeared first on Silver Doctors. |
| Atlanta Fed Sees Far Weaker Than Expected Q1 GDP Posted: 01 Feb 2016 09:33 AM PST Another Monday, another set of “surprisingly” bad economic numbers. A few representative headlines: China manufacturing prices decline for 18th straight month Oil prices fall 5% on bad China data, OPEC uncertainty Global factories parched for demand, need stimulus Junk bonds suffer a rare negative return in January US consumer spending softens, savings hit 3-year high US manufacturing weak again in January China official PMI misses in January, Caixin PMI shows contraction Japanese bond yields continue to collapse There’s more, but you get the (very dark) picture. And thanks to the Atlanta Fed’s GDPNow program we can see in real time how these numbers translate into current-quarter GDP growth. Apparently the US is looking at yet another weak stretch in which economists (represented by the Blue Chip consensus) are gradually forced to admit that they’ve wildly overestimated our ability to manage our debt.
GDP growth matters for a couple of reasons. First, an economy that’s borrowing a lot of money (as all the major ones are) has to generate large amounts of new wealth or it sinks ever-deeper into a hole that eventually leads to a 1930s-style depression. 1.3% growth does not come close to stopping the expansion of debt/GDP. So every quarter like the current one brings a debt-driven collapse that much closer. Second and far more interesting in the near-term, slow-growth/high-debt countries eventually conclude that their only remaining option is massive currency devaluation. Europe and Japan are already there, and are aggressively ramping up their own currency war offensives. The US, if history is any guide, will soon (either this year or as part of the next administration’s “first 100 days” political offensive) decide that a too-strong dollar is standing in the way of “progress” and will start looking for ways to devalue. Then the real fun begins — at least for goldbugs. For holders of dollars it won’t be nearly as pleasant. Here’s the Canadian version of what’s coming for US investors, though the US chart will be steeper and will go on for years instead of months:
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| It’s Here: “Every Financial Indicator Says We Are In Free Fall” Posted: 01 Feb 2016 08:45 AM PST Financial collapse is HERE… By Dave Hodges, The Common Sense Show via SHTFPlan: Editor's Note: For years contrarian analysts, researchers and authors have been blaring the warning signal in an attempt to raise awareness of the impending financial, economic and monetary catastrophe. While central banks and governments around the world threw everything they have at the problem, their only […] The post It’s Here: "Every Financial Indicator Says We Are In Free Fall" appeared first on Silver Doctors. |
| Peter Schiff: Gold is Going to SKYROCKET- People Need to Prepare for That Now! Posted: 01 Feb 2016 08:00 AM PST The admission that the economy is so weak that it needs more QE is going to destroy the narrative that the U.S. economy is in great shape and it's no longer going to be the safe haven for capital around the world…it's going to prick the bubble in the dollar…and people are going to realize […] The post Peter Schiff: Gold is Going to SKYROCKET- People Need to Prepare for That Now! appeared first on Silver Doctors. |
| Gold Price Positive, Extends New Year Jump as Clumsy China Sees Manufacturing Shrink Posted: 01 Feb 2016 07:03 AM PST Bullion Vault |
| It’s On: Economic Activity Is Slowing Down MUCH Faster Than Anticipated Posted: 01 Feb 2016 07:00 AM PST We have not seen global economic activity fall off this rapidly since the great recession of 2008. Manufacturing activity is imploding all over the planet, global trade is slowing down at a pace that is extremely alarming, and the Baltic Dry Index just hit another brand new all-time record low. If the "real economy" consists […] The post It’s On: Economic Activity Is Slowing Down MUCH Faster Than Anticipated appeared first on Silver Doctors. |
| Posted: 01 Feb 2016 06:00 AM PST Business leaders and industry titans know that the best way to advance legislation is to wait for the spending bill that both sides of the aisle must pass then instruct their lobbyist to bury the provision deep in the footnotes. The 2,200 pages were delivered to the floor for consideration the morning of Friday Jan […] The post Sprott’s Thoughts: Buried in the Omnibus $1.1T Spending Bill is a Measure that Benefits US Farmland Prices appeared first on Silver Doctors. |
| Gold and Silver Bullion Up 5.3% and 3.4% In January as Stocks Fall Sharply Posted: 01 Feb 2016 05:03 AM PST gold.ie |
| Mystery Federal Reserve Bank NY Gold Depositor Posted: 01 Feb 2016 12:18 AM PST Perth Mint |
| Mystery Federal Reserve Bank NY Gold Depositor Posted: 31 Jan 2016 11:35 PM PST The release of Federal Reserve Bank of New York's December gold stocks report provides and opportunity to analyse the progress of this current phase of withdrawals from its custodial stocks. I say "phase" because in recent times there have been periods of concentrated withdrawal activity in between periods of little or no activity, as the chart below from Nick Laird at Sharelynx shows. Read more here |
| Legendary Investor Eric Sprott Shares the Greatest Financial Lesson He’s Ever Learned Posted: 31 Jan 2016 11:15 PM PST In the wake of Japan announcing negative interest rates and chaos in the silver market with Thursday’s LBMA silver price fix smashed .84 below spot prices by the 6 fixing bullion banks, we welcomed The Admiral of the Silver Market, Eric Sprott himself to help us break down all the action. In Sprott’s words, the sheer […] The post Legendary Investor Eric Sprott Shares the Greatest Financial Lesson He’s Ever Learned appeared first on Silver Doctors. This posting includes an audio/video/photo media file: Download Now |
| The Fed’s Normalization and Gold Posted: 31 Jan 2016 03:01 PM PST SunshineProfits |
| Global Stocks Enter Bear Market: One-Fifth Of All Worldwide Stock Market Wealth Is Already Gone Posted: 20 Jan 2016 04:14 PM PST
As bad as things are in the U.S. right now, the truth is that we still have a long way to go to catch up with the rest of the planet. Around the world, many major stock indexes are already down more than 30 or 40 percent. Overall, the MSCI All-Country World Index is now down 20 percent, which officially puts us in bear market territory…
Much of this chaos is being driven by the price of oil. On Wednesday the price of U.S. oil dropped below 28 dollars a barrel for a while, and as I write this article Brent crude is still below 28 dollars a barrel. As energy prices continue to plummet, this is putting a tremendous amount of pressure on junk bonds. On Wednesday JNK actually dipped beneath 32.00 for a time before rebounding at the end of the day. I expect to see junk bonds continue to crash during the days ahead as investors feverishly race for the exits. And of course global economic fundamentals continue to deteriorate as well. Global trade is absolutely imploding and shipping rates have fallen to unprecedented levels. If you can believe it, Bloomberg is reporting that it is now actually cheaper to rent a 1,100 foot merchant vessel than it is to rent a Ferrari…
I could hardly believe that when I first read it. But this is the kind of thing that we would expect to see happen when the greatest financial bubble in world history bursts. The 200 trillion dollar global debt pyramid is now collapsing all around us, and the former chief economist of the Bank for International Settlements is warning that we could soon be facing “an avalanche of bankruptcies”…
Of course it is a little late in the game to be warning us about this now. At this point there is very little that can be done to stop the collapse that is already happening. White went on to tell the Telegraph that things are going to become “uncomfortable for a lot of people who think they own assets that are worth something”…
For years, I have been warning that the global financial system is an incredibly shaky house of cards, and now we have finally reached the endgame. But the mainstream media in the United States is telling everyone not to panic. Instead of a time to sell, the mainstream media is urging people to jump in and take advantage of all of the “great deals” in the stock market right now. I really like what Mike Adams of Natural News had to say about what we are seeing…
The financial chaos that has erupted in recent weeks has really caught a lot of people by surprise, but my readers knew that it was coming well in advance. For months, I have been warning about this exact kind of scenario. The deflationary financial meltdown that started during the last six months of 2015 is now making headlines all over the planet, and what we have experienced so far is just the tip of the iceberg. The bears have gotten out of their cages, and global investors are running for cover. Nobody is exactly sure what is going to happen tomorrow, but without a doubt the entire world will be watching. |
| Short Sellers Back In The Saddle: Q&A With Bearing Asset Management Posted: 20 Jan 2016 10:47 AM PST The improbable success of The Big Short, a scathing and hilarious tutorial on making money during a financial crisis, probably has a lot of people thinking that now might be a good time to start betting against the current bubble(s). That’s a well-timed thought because it comes after three long years in which shorting was really, really hard. Why was it hard? Because easy money — at first — floats all boats. When interest rates are low and financing is readily available, even the crappiest companies can pay their bond interest and support their share price with debt-fueled share repurchases. The uniformity of the past few years’ bull market was so extreme that buying the most heavily-shorted stocks — on the assumption that those companies would have access to sufficient capital to support their market value, thus forcing the shorts to cover at ever-higher prices — was a successful and widely-practiced strategy. But as Warren Buffett likes to say, when the tide goes out you see who’s swimming naked. And in the past year, as the US stopped quantitatively easing, China stopped buying commodities and oil tanked, the tide has gone out with a vengeance. Already, the Russell 2000 index of small-cap stocks is down 22 percent from its cycle high and fully half of the S&P 500 is down more than 20%. Long-suffering short sellers, as a result, now find themselves in a target-rich environment reminiscent of The Big Short’s final act. Dallas-based Bearing Fund is a case in point. After a “humbling” couple of years, partners Bill Laggner and Kevin Duffy have ridden some high-profile short positions (including SunEdision, Wynn Resorts and Valeant) to big gains, with — if this bubble deflates according to the standard script — much more still to come. Here’s a short Q&A compiled from an exchange of emails: DollarCollapse: The past few years have been tough for short sellers. But during 2015 that changed in a big way. What happened? Laggner and Duffy: The commodity bubble actually began to crack in 2011, led by deterioration in China and the first convincing signs of governments losing control. But speculators continued to stay at the casino, especially in the US where short-term interest rates remained at zero. So unlike the last bubble where real estate was the main collateral, this series of echo bubbles included any kind of financial asset. After the commodity sector was hit, other related countries’ stocks and currencies began to falter, led by Brazil and Russia. The last shoes to drop were various sectors of the US economy as endless intervention finally exhausted itself and nonfinancial operating profits peaked. By the end of 2015, 52% of the stock market was down 15% or more. DC: You maintain a list that’s a mirror image of those that most money managers compile, because yours — the Bearing Short Index — is made up of things that you expect to go down. How has it performed historically and recently? L & D: When we created the Bearing Credit Bubble Index in 2004 our goal was to demonstrate where the real distortions were playing out from central bank largess. Those sectors eventually declined by 70%-80%. About 18 months ago we constructed an equal-weighted index of our short selling universe at the time, 53 stocks. From its all-time high on June 23, the Bearing Short Index was down 20.3% by mid-December. Over the same period, the S&P 500 was -4.8%. Of the 53 stocks in the index, 11 were down over 40% from their 52-week highs while 5 were down over 60%. In other words, the past six months have been ideal for short sellers and miserable for a number of high profile hedge funds which have been long many of these formerly highflying stocks. The coordinated central banking interventions this cycle led to numerous distortions in a variety of sectors and over the last 12 months the Bearing Short Index has declined at roughly 4X the rate of S&P 500. So clearly we’ve identified some of the more egregious actors. DC: What are your main themes? In other words, what parts of the global economy do you expect to do most badly from here? L & D: Prolonged ZIRP has fueled the biggest bubble since ’00. China led the charge by expanding debt by over $18 trillion since ’09, so unwinding that means lower commodity prices and Chinese bank solvency problems. Meanwhile, the infatuation with anything offering yield like REITs, MLPs, junk bonds, alternative energy “yieldcos” will end in tears once the commodity carnage is recognized by the market. Finally, much of the debt from the prior two bubbles was never allowed to deflate. So excess everything (derived from cheap credit) will ultimately lead to contraction in economic activity/profits, driving most asset prices back below fair market value. DC: Right now the world is in chaos and most categories of financial assets are falling hard. How long do you see this continuing and how will you know when a bottom is in? L & D: Well, we know that getting here [since the 2008-2009 crisis] took almost $63 trillion in new debt globally and a tremendous level of financial engineering/leverage, so with pieces of the commodity cycle crashing to earth we would say this is the top of the second inning. Bottoms take time and unfortunately moral hazard created by bailouts/stimulus has encouraged many to await the next rescue mission experiment. Of course, margin clerks are getting busy and many of the speculators are playing with rented merchandise, so selling begets selling. At the bottom you will see despair, frustration, and obviously no discussions at cocktail parties about stocks or real estate investing. DC: What role do precious metals play in the world you see coming? How do you choose among the various ways of owning/betting on gold and silver? L & D: Gold is unencumbered money so owning gold is really just insurance in the event fiat currency systems end badly. Of course owning gold miners is much more challenging as the industry became distorted from suppressed interest rates and related malinvestment. We’ve tried to find good operators in relatively safe jurisdictions with lows costs. The recession in mining coupled with low energy costs has allowed many of these companies to lower all-in sustaining costs so gold miners look attractive again. CD: You’re both followers of the Austrian School of economics. How does this inform your decision making? L & D: The economy is a complex adaptive system similar to the brain, the Internet, and ant colonies. The connections are important and information gets transmitted via the price system. Austrians recognize that interfering with freely determined market prices (by central command) sends the wrong signals to economic actors. When a central bank suppresses the price of credit – interest rates – bad things happen. To quote Jim Grant, "This is like turning all the traffic lights green." One possible result of this is inflated asset prices and an unsustainable boom. Austrian Business Cycle Theory tells us that the depth of the bust will be proportional to the boom. Since we just witnessed a tripling of stock prices over a 6 year period, we expect the ensuing bust to be historic. As Austrians, we also know to look for areas of malinvestment on the short side, typically long-term grandiose projects (like record high skyscrapers in China) or consumer goods where long-term financing is offered (such as 7 year auto loans). On the long side, it suggests we keep it simple and invest in basic necessities like food and affordable luxuries like beer. "When the going gets tough, people eat, drink and smoke." Full disclosure: Bearing and DollarCollapse have an advertising relationship. |
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