Gold World News Flash |
- Michael Snyder | Terry Sacka “Digital Fiat Currency”
- Ted Cruz, A Bush By Another Name
- It’s Been A Seven-Year Bull Market In Fraud, Corruption And Insanity
- PROTECT YOUR WEALTH – BUY GOLD BEFORE IT REACHES $2,000
- Welcome To The Currency War, Part 22: China Devaluation Watch
- Democracy, Be Damned - The "Sea Island" Conspiracy Reveals The Deep State
- Gerald Celente -- China is Manipulating the Market to Prevent Collapse, Potential WW3
- Fukushima Five Years Later: "The Fuel Rods Melted Through Containment And Nobody Knows Where They Are Now"
- The Derivatives Bubble is About to Destroy Deutshcebank! - Jim Comiskey Interview
- Gold Price Closed at $1258.60 down $11.20 or -0.9% this Week
- Why Negative Rates Can't Stop the Coming Depression
- Gold Daily and Silver Weekly Charts - Central Banks As Financial Cosmeticians
- Central Bankers on the Brink
- GDXJ ETF - Gold Junior Stocks Strong in Dark
- Gold, Stocks and the Miners Analysis
- The Day the Dollar Bait-and-Switch Died… Gold May Boom
- Welcome To The Currency War, Part 22: China Devaluation Watch
- What Scientists say you should Eat
- SILVER OUTBREAK: Investment Demand Will Totally Overwhelm The Market
- Gold just collects dust? Two more financial companies disagree
- TF Metals Report interviews GATA chairman on resilience of monetary metals
- Gold Juniors Strong in Dark Q4
- Greetings from Myanmar (Burma)
- John Perkins Keynote Address - Declassify the Truth-2015 Symposium
- The Secret 28 Pages - Push to Declassify -- Wayne Madsen
- Bazooka Mario
- What Is Dark Money And How Does It Influence Elections?
- Gold Rises To 13 Month High as ECB ‘Bazooka’ Shoots Blanks
- Crumbling U.S Empire Drives Russia and China to Move into Gold
- London Gold Price Fix Rigging - Fact or Myth?
- Protect Your Wealth – Buy Gold Before It Reaches $2,000
- And then there were none: Canada sells its gold
- Blockbuster Uranium Call and Best Metal and Oil Plays
- Forex Markets Uncertainty Around ECB Decisions
- Near-Term Gold Forecast: The Thrill of Victory and the Agony of Indecision. . .
- Technician: Bear Market Rally; Gold Gets a Buy Signal
| Michael Snyder | Terry Sacka “Digital Fiat Currency” Posted: 12 Mar 2016 12:30 AM PST from TRUNews: On today's edition of TRUNEWS, Rick Wiles hosts a roundtable on stake of the global economy with the founder of Cornerstone Asset Metals Terry Sacka and Michael Snyder, the publisher of The Economic Collapse Blog. With the panel of experts, Rick will discuss the ramifications of the Fed shifting to a purely digital fiat currency and the crippling burden they have bestowed on the globe through insolvent debt policies. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ted Cruz, A Bush By Another Name Posted: 11 Mar 2016 11:00 PM PST by Roger Stone, TheDailyCaller:
This endorsement says much. Since the other, more politically involved Bush men have a distinct dislike for Mr. Cruz, I suppose Neil Bush is better than no Bush. Let's look at the wonderful memories that Neil Bush has left us with. First there is is that little banking charade he steered us into back in 1985. Back in 1981, Neil Bush was director of Silverado Savings and Loan in Denver, Colorado. Neil was very generous, lending millions to pals Kenneth Good and William Walters. The $250 million in loans went into default, S.S. & L. went bankrupt and had to be seized by the Feds. Neil Bush walked away with a cool $100,000 personal loan which he never paid back. Documents released by the Office of Thrift Supervision detailed the conflict of interest charges against Neil. Federal regulators described him as "unqualified, and untrained" to be a director of a financial institution. It seems Neil miscalculated just how much he knew about directing a mega financial institution like Silverado Savings and Loan. By the summer of 1990, the cost of bailing out the savings and loan industry would cost at least $500 billion! Neil's Silverado adventure cost U.S. taxpayers $1.5 billion. Neil actually got fraudulent loans they knew would fail, use the money to short the stock and crash the bank and collect millions according to CIA cut-out and Bush family associate Al Martin in his seminal work The Conspirators: The Secrets of an Iran-Contra Insider. Oh, and let's not forget his lies to the press immediately after John Hinckley Jr. allegedly shot Ronald Reagan. At first he and his wife admitted to knowing the Hinckley family, that they donated a lot of money to the Bush endeavors … yet the next day he recanted and claimed he actually didn't know them, and wasn't even sure if they donated any money! In fact John Hinckley Sr. give heavily to George Bush Sr., in 1964, 1966, 1970 and 1980 and Neil and his wife were scheduled to dine with John Hinckley Jr.'s older brother the very night Jr. allegedly shot Reagan. This is the same Neil Bush who was sent Asian prostitutes by the Chinese conglomerate that was using Neil to peddle influence to the U.S. government for a multi-billion dollar Semi-conductor deal, according to his own deposition. The Bush-Cruz connection is clear. Ted was George W.'s brain when he ran for president. A top policy adviser, Ted maneuvered for Solicitor General in Bush World but settled for a plum at the Federal Trade Commission. Ted's a Bush man with deep ties to the political and financial establishment. Ted and wife Heidi brag about being the first "Bush marriage" – they met as Bush staffers. Cruz was an adviser on legal affairs while Heidi was an adviser on economic policy and eventually director for the Western Hemisphere on the National Security Council under Condoleezza Rice. Condi helped give us the phony war in Iraq. Heidi then went to the Bush U.S. Trade Representative as a top deputy to U.S. Trade Rep. Robert Zoellick, who wired Heidi's membership in the Council on Foreign Relations and job at Goldman Sachs. The bailed-out bank then loaned Cruz $1 million secretly to finance his Senate race. Crux would also borrow an undisclosed $1 million loan from Citicorp. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| It’s Been A Seven-Year Bull Market In Fraud, Corruption And Insanity Posted: 11 Mar 2016 09:20 PM PST by Dave Kranzler, InvestmentResearchDynamics:
Every day the U.S. stock market drops, the Propaganda Ministry in the U.S. blames China. Of course, it has nothing to do with the fact that the U.S. stock market is at least as insanely overvalued as China's. And underlying the U.S. stock market is an unprecedented degree of fraud and corruption. Obviously, the plunge in China's exports can only be attributable to a steep decline in economic activity in the three countries represented in the graph above. This is especially true given the relative strength of the U.S. dollar, which makes Chinese good cheaper in dollar terms. The truth is that the "bull market" in U.S. stocks is nothing more than bull market in money printing, credit creation, an unprecedented level of Central Bank intervention and extreme fraud. Because of the ongoing and continuous market manipulation, predicting the timing on the next stock market collapse is impossible. But as the Fed's stock market "high-wire juggling act" continues, the valuation of the stock market becomes increasingly dislocated from the underlying economic and financial market fundamentals. At some point the "gravity" from reality will engulf the stock market and "pull" it quickly back to earth. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| PROTECT YOUR WEALTH – BUY GOLD BEFORE IT REACHES $2,000 Posted: 11 Mar 2016 08:00 PM PST by Egon Von greyerz, GoldBroker:
DESPERATE MEASURES BY THE ECB The ECB confirmed yesterday that they are extremely concerned about the European economy as well as the fragile banking system. They lowered the negative rate to 0.4% and increased Q.E. or money printing by more than the market expected. I am quite certain that this is still just the beginning of the stimulus required to "save" Europe. But however many trillions that Draghi throws at the bankrupt banks and European economies it will make no difference. It is just not possible to solve a problem by the same means that caused it in the first place. So adding debt to excessive debt will just make the final collapse that much bigger. But the ECB is not the only bank which will print money. All major central banks, including the Fed, will join the ECB in more Q.E. and more negative rates until the world drowns in worthless money. TECHNICAL PICTURE FOR GOLD There are now many who believe that the technical picture for gold is bearish, especially due to the big net short position of the commercial traders. Conventional wisdom says that the commercials are never wrong. Well, maybe this time it is only conventional without the wisdom because the likelihood is that the commercials will soon have to bail out of their shorts. And if that is the case, gold will surge even faster. Based on what we see, the fundamental and technical factors for gold are now more bullish than they have been during the whole of this bull market which started in 1999. Since the beginning of the year gold has moved up 20-25% in most currencies. In some of the weaker currencies the move has been even faster like in Argentine Pesos where we have seen a 40% move in 2016 and 9,000% in this century. We are likely to see bigger moves than that also in all western currencies including the dollar. As currencies continue to weaken, gold will accelerate until we reach global money printing on a massive scale and hyperinflation. Desperate governments and central bankers are guaranteed to make a final attempt to save the world by printing unlimited amounts of money. They will of course fail which means that after the hyperinflationary period there will be an implosion of most assets fuelled by the credit bubbles as well as of major parts of the financial system. GOLD SILVER RATIO BULLISH FOR METALS Conventional technical indicators might look slightly overbought for gold and silver short term. But the next move will not be guided by what is normal. It will happen a lot faster than anyone could expect. The Gold/Silver ratio gives us a very clear indication that the real move in gold and especially silver has not started yet. According to our proprietary cycle indicators this ratio peaked in Feb 2016 at around 83.5. This means that the gold price is 83.5 the silver price. With this ratio just having completed a long term cycle top and being very overbought on daily weekly and monthly indicators, it has a long way to go before it is oversold on any time period. The next major stop for the ratio is 30 which is where it was in 2011 when silver was $50. Eventually the ratio should reach down to 15 like in 1980. What this means is that both gold and silver will soon start a very fast move. Silver will lead and move twice as fast as gold. I would not exclude to see gold at around $2,000 and silver at $50 in 2016. To reach these levels would clearly involve some major geopolitical or financial problems in the world. Anyone who has followed my writings and interviews will know that I see the risks in the financial system as totally unprecedented in history. In a fragile system resting on a foundation of debt, any catalyst can cause irreparable damage and a domino reaction that no central bank can stop. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Welcome To The Currency War, Part 22: China Devaluation Watch Posted: 11 Mar 2016 07:20 PM PST by John Rubino, Dollar Collapse:
China would, as a result, have no choice but to cut the yuan's value by as much as 40% to make domestic debts manageable and export industries competitive. Hedge funds, led by Hayman Capital's Kyle Bass, were gearing up to bet billions on this event. From a Bass report to his investors “Over the past decade, we have worked diligently to identify anomalies in financial systems, governments, and companies around the world. We have been vigorously studying China over the last year, with the view that the rapid credit expansion in the Chinese banking system will result in significant credit losses that will require the recapitalization of Chinese banks and materially pressure the Chinese currency. This outcome will have many near-term and long-term effects on countries and markets around the world. In other words, what happens in China will not stay in China. The unwavering faith that the Chinese will somehow be able to successfully avoid anything more severe than a moderate economic slowdown by continuing to rely on the perpetual expansion of credit reminds us of the belief in 2006 that US home prices would never decline. Similar to the US banking system in its approach to the Global Financial Crisis ("GFC"), China's banking system has increasingly pursued excessive leverage, regulatory arbitrage, and irresponsible risk taking. Recently, we have had numerous discussions with various Wall Street firms, consultants, and other respected China experts, and they almost all share the view that China will pull through without a reset of its economic conditions. What we have come to realize through these discussions is that many have come to their conclusion without fully appreciating the size of the Chinese banking system and the composition of assets at individual banks. More importantly, banking system losses – which could exceed 400% of the US banking losses incurred during the subprime crisis – are starting to accelerate. Our research suggests that China does not have the financial arsenal to continue on without restructuring many of its banks and undergoing a large devaluation of its currency. It is normal for economies and markets to experience cycles, and a near-term downturn that works to correct the current economic imbalance does not qualitatively change China's longer-term growth outlook and transition to a service economy. However, credit in China has reached its near-term limit, and the Chinese banking system will experience a loss cycle that will have profound implications for the rest of the world. What we are witnessing is the resetting of the largest macro imbalance the world has ever seen. [emphasis added] So how did we get here? Since 2004, China's real effective exchange rate has appreciated 60%. The majority of this appreciation occurred in the last few years as the ECB and BOJ both actively targeted weaker exchange rates to stimulate Europe's and Japan's large export sectors, respectively. While the markets seem solely focused on China's exchange rate versus the US dollar, this fixation misses the point that many other manufacturing economies and currencies, including those belonging to Japan, Europe, Russia, and several Southeast Asian countries, have gained significant price advantages at China's expense. If China is to achieve the required clawback of its real effective exchange rate, the renminbi will need to devalue against a trade-weighted basket of currencies and not just the dollar. In effect, the required devaluation against the dollar will need to be multiplied to achieve the necessary result. As the renminbi appreciated over the last decade, China undertook a massive infrastructure spending program in order to maintain politically-determined GDP growth targets in the face of these headwinds. This policy action created a system of distorted incentives (not to mention a dramatic misallocation of capital) whereby local officials were promoted to higher office by exceeding those targets without regard to the return on investment of the projects they supported. In 2005, exports and investment constituted 34% and 42% of China's GDP, respectively. By 2014, exports had fallen to 23% and investment had grown to 46%. This growth in investment was funded by rapid credit expansion in China's banking system, which grew from $3 trillion in 2006 to $34 trillion in 2015. Today China is at a point where its banking system can no longer support such massive growth, and the strong renminbi has effectively undermined the competitiveness of China's export economy. A dramatic devaluation of the renminbi is warranted to regain export competitiveness; however, the Chinese authorities have errantly fought against this so far, spending around $1 trillion to defend their currency. The continued capital outflows and emerging need to deal with losses in the banking sector will eventually force China to change tack and allow (or enable) a devaluation that resets growth as many countries have done over the past eight years.” | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Democracy, Be Damned - The "Sea Island" Conspiracy Reveals The Deep State Posted: 11 Mar 2016 07:00 PM PST Submitted by Patrick Buchanan via Buchanan.org, Over the long weekend before the Mississippi and Michigan primaries, the sky above Sea Island was black with corporate jets. Apple’s Tim Cook, Google’s Larry Page and Eric Schmidt, Napster’s Sean Parker, Tesla Motors’ Elon Musk, and other members of the super-rich were jetting in to the exclusive Georgia resort, ostensibly to participate in the annual World Forum of the American Enterprise Institute. Among the advertised topics of discussion: “Millennials: How Much Do They Matter and What Do They Want?” That was the cover story. As revealed by the Huffington Post, Sea Island last weekend was host to a secret conclave at the Cloisters where oligarchs colluded with Beltway elites to reverse the democratic decisions of millions of voters and abort the candidacy of Donald Trump. Among the journalists at Sea Island were Rich Lowry of National Review, which just devoted an entire issue to the topic: “Against Trump,” and Arthur Sulzberger, publisher of the Trumphobic New York Times. Bush guru Karl Rove of FOX News was on hand, as were Speaker Paul Ryan, Majority Leader Mitch McConnell and Sen. Lindsey Graham, dispatched by Trump in New Hampshire and a berserker on the subject of the Donald. So, too, was William Kristol, editor of the rabidly anti-Trump Weekly Standard, who reported back to comrades: “The key task now, to … paraphrase Karl Marx, is less to understand Trump than to stop him.” Kristol earlier tweeted that the Sea Island conclave is “off the record, so please do consider my tweets from there off the record.” Redeeming itself for relegating Trump to its entertainment pages, the Huffington Post did the nation a service in lifting the rug on “something rotten in the state.” What we see at Sea Island is that, despite all their babble about bringing the blessings of “democracy” to the world’s benighted, AEI, Neocon Central, believes less in democracy than in perpetual control of the American nation by the ruling Beltway elites. If an outsider like Trump imperils that control, democracy be damned. The elites will come together to bring him down, because, behind party ties, they are soul brothers in the pursuit of power. Something else was revealed by the Huffington Post — a deeply embedded corruption that permeates this capital city. The American Enterprise Institute for Public Policy Research is a 501(c)(3) under IRS rules, an organization exempt from U.S. taxation. Million-dollar corporate contributions to AEI are tax-deductible. This special privilege, this freedom from taxation, is accorded to organizations established for purposes such as “religious, educational, charitable, scientific, literary … or the prevention of cruelty to children or animals.” What the co-conspirators of Sea Island were up at the Cloisters was about as religious as what the Bolsheviks at that girls school known as the Smolny Institute were up to in Petrograd in 1917. From what has been reported, it would not be extreme to say this was a conspiracy of oligarchs, War Party neocons, and face-card Republicans to reverse the results of the primaries and impose upon the party, against its expressed will, a nominee responsive to the elites’ agenda. And this taxpayer-subsidized “Dump Trump” camarilla raises even larger issues. Now America is not Russia or Egypt or China. But all those countries are now moving purposefully to expose U.S. ties to nongovernmental organizations set up and operating in their capital cities. Many of those NGOs have had funds funneled to them from U.S. agencies such as the National Endowment for Democracy, which has backed “color-coded revolutions” credited with dumping over regimes in Serbia, Ukraine and Georgia. In the early 1950s, in Iran and Guatemala, the CIA of the Dulles brothers did this work. Whatever ones thinks of Vladimir Putin, can anyone blame him for not wanting U.S. agencies backing NGOs in Moscow, whose unstated goal is to see him and his regime overthrown? And whatever one thinks of NED and its subsidiaries, it is time Americans took a hard look at the tax-exempt foundations, think tanks and public policy institutes operating in our capital city. How many are like AEI, scheming to predetermine the outcome of presidential elections while enjoying tax exemptions and posturing as benign assemblages of disinterested scholars and seekers of truth? How many of these tax-exempt think tanks are fronts and propaganda organs of transnational corporations that are sustained with tax-deductible dollars, until their “resident scholars” can move into government offices and do the work for which they have been paid handsomely in advance? How many of these think tanks take foreign money to advance the interests of foreign regimes in America’s capital? We talk about the “deep state” in Turkey and Egypt, the unseen regimes that exist beneath the public regime and rule the nation no matter the president or prime minister. What about the “deep state” that rules us, of which we caught a glimpse at Sea Island? A diligent legislature of a democratic republic would have long since dragged America’s deep state out into the sunlight. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gerald Celente -- China is Manipulating the Market to Prevent Collapse, Potential WW3 Posted: 11 Mar 2016 06:00 PM PST About Gerald Celente : Founder of The Trends Research Institute in 1980, Gerald Celente is a pioneer trend strategist. He is author of the national bestseller Trends 2000: How to Prepare for and Profit from the Changes of the 21st Century and Trend Tracking: The System to Profit from Today's... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 11 Mar 2016 05:27 PM PST Today, Japan marks the fifth anniversary of the tragic and catastrophic meltdown of the Fukushima nuclear plant. On March 11, 2011, a massive earthquake and tsunami hit the northeast coast of Japan, killing 20,000 people. Another 160,000 then fled the radiation in Fukushima. It was the world's worst nuclear disaster since Chernobyl, and according to some it would be far worse, if the Japanese government did not cover up the true severity of the devastation. At least 100,000 people from the region have not yet returned to their homes. A full cleanup of the site is expected to take at least 40 years. Representative of the families of the victims spoke during Friday's memorial ceremony in Tokyo. This is what Kuniyuki Sakuma, a former resident of Fukushima Province said:
Sadly, the 2011 disaster will be repeated. After the Fukushima nuclear meltdown, Japan was flooded with massive anti-nuclear protests which led to a four-year nationwide moratorium on nuclear plants. The moratorium was lifted, despite sweeping opposition, last August and nuclear plants are being restarted. Meanwhile, while we await more tragedy out of the demographically-doomed nation, this is what Fukushima's ground zero looks like five years later. As Reuters sums it up best, "no place for man, or robot."
The robots sent in to find highly radioactive fuel at Fukushima's nuclear reactors have "died"; a subterranean "ice wall" around the crippled plant meant to stop groundwater from becoming contaminated has yet to be finished. And authorities still don't know how to dispose of highly radioactive water stored in an ever mounting number of tanks around the site. Five years ago, one of the worst earthquakes in history triggered a 10-metre high tsunami that crashed into the Fukushima Daiichi nuclear power station causing multiple meltdowns. Nearly 19,000 people were killed or left missing and 160,000 lost their homes and livelihoods. Today, the radiation at the Fukushima plant is still so powerful it has proven impossible to get into its bowels to find and remove the extremely dangerous blobs of melted fuel rods. The plant's operator, Tokyo Electric Power has made some progress, such as removing hundreds of spent fuel roads in one damaged building. But the technology needed to establish the location of the melted fuel rods in the other three reactors at the plant has not been developed. "It is extremely difficult to access the inside of the nuclear plant," Naohiro Masuda, Tepco's head of decommissioning said in an interview. "The biggest obstacle is the radiation." The fuel rods melted through their containment vessels in the reactors, and no one knows exactly where they are now. This part of the plant is so dangerous to humans, Tepco has been developing robots, which can swim under water and negotiate obstacles in damaged tunnels and piping to search for the melted fuel rods. But as soon as they get close to the reactors, the radiation destroys their wiring and renders them useless, causing long delays, Masuda said. Each robot has to be custom-built for each building."It takes two years to develop a single-function robot," Masuda said. IRRADIATED WATER Tepco, which was fiercely criticized for its handling of the disaster, says conditions at the Fukushima power station, site of the worst nuclear disaster since Chernobyl in Ukraine 30 years ago, have improved dramatically. Radiation levels in many places at the site are now as low as those in Tokyo. More than 8,000 workers are at the plant at any one time, according to officials on a recent tour. Traffic is constant as they spread across the site, removing debris, building storage tanks, laying piping and preparing to dismantle parts of the plant. Much of the work involves pumping a steady torrent of water into the wrecked and highly radiated reactors to cool them down. Afterward, the radiated water is then pumped out of the plant and stored in tanks that are proliferating around the site. What to do with the nearly million tonnes of radioactive water is one of the biggest challenges, said Akira Ono, the site manager. Ono said he is "deeply worried" the storage tanks will leak radioactive water in the sea - as they have done several times before - prompting strong criticism for the government. The utility has so far failed to get the backing of local fishermen to release water it has treated into the ocean. Ono estimates that Tepco has completed around 10 percent of the work to clear the site up - the decommissioning process could take 30 to 40 years. But until the company locates the fuel, it won't be able to assess progress and final costs, experts say. The much touted use of X-ray like muon rays has yielded little information about the location of the melted fuel and the last robot inserted into one of the reactors sent only grainy images before breaking down. ICE WALL Tepco is building the world's biggest ice wall to keep groundwater from flowing into the basements of the damaged reactors and getting contaminated. First suggested in 2013 and strongly backed by the government, the wall was completed in February, after months of delays and questions surrounding its effectiveness. Later this year, Tepco plans to pump water into the wall - which looks a bit like the piping behind a refrigerator - to start the freezing process. Stopping the ground water intrusion into the plant is critical, said Arnie Gunderson, a former nuclear engineer. "The reactors continue to bleed radiation into the ground water and thence into the Pacific Ocean," Gunderson said. "When Tepco finally stops the groundwater, that will be the end of the beginning." While he would not rule out the possibility that small amounts of radiation are reaching the ocean, Masuda, the head of decommissioning, said the leaks have ended after the company built a wall along the shoreline near the reactors whose depth goes to below the seabed. "I am not about to say that it is absolutely zero, but because of this wall the amount of release has dramatically dropped," he said. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Derivatives Bubble is About to Destroy Deutshcebank! - Jim Comiskey Interview Posted: 11 Mar 2016 05:01 PM PST The Derivatives Bubble is About to Destroy Deutshcebank! - Jim Comiskey Interview 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! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Price Closed at $1258.60 down $11.20 or -0.9% this Week Posted: 11 Mar 2016 04:25 PM PST
First, a small meditation. Almost all of the US dollar index's rise from July 2014 was furnished by HOT AIR. That is, without doing anything substantial to improve the currency or economy, by continually hinting they would raise interest rates, Fed apparatchiki built the market's expectation the dollar must rise. They sent out their mouthpieces to jawbone, & of course other mouthpieces to counter-jawbone to make the scam more believable. Central banks' credibility is vanishing. Yesterday Draghi announced ECB moves that should weaken the euro. Instead, they sent it shooting up and the dollar down. Reality is flying home to roost on the central banks. That's going to make a big, big mess. TO MARKETS: The week's ending closes didn't answer the questions buzzing around my skull. SILVER and GOLD PRICES backed off for the week, but only today. Stocks would have been in negative territory had they not rallied today. Dollar index remains as weak & puking sick as an 11 year old learning to smoke cheap cigars -- puff & puke, puff & puke. Today that US dollar index bounced the way a road-killed possum bounces when you pick him up with a shovel and throw him in the ditch. No life in it. It rose 11 basis points (0.11%) to close at 96.23. Dollar index has gotten down to serious stuff now, sunk down way below its 200 DMA (97.09) and hovering a bald 75 bips from that 92.50 live-or-die support. Next week won't be filled with gardenias for the dollar index. Euro gave back some of its central-bank-ill-gotten gains from yesterday. Lost 0.3% to close at $1.1146. Mirror-imaging the dollar's plunge yesterday, today it eased off. However, technically it has broken out toward the sun. Yen gave back 0.54% today, ending at 87.86. Underneath its 20 DMA (88.28) but still hovering up high. My land, stocks jes' showed out today! Dow pushed up 218.18 (1.28%) to a new high for 2015 at 17,213.31. S&P500 outdid the Dow, climbing 32.62 (1.64%) to 2,022.19. Makes you wonder what sort of lunatic enthusiasm could induce folk to bid that Dow up over the 200 DMA (17,153.24). Lawsy, the Wall Street media pimps will be crowing over that! I, on the other hand (and this might not surprise y'all much) see stocks reaching the outer limit of their upward correction. It's the bear luring more victims into his cave. Even with gold down and the Dow up, the Dow in Gold couldn't climb above the uptrend line from the 2011 low. Pee-yuny. Ended at 13.76 oz. Dow in silver is a little more complicated, but it, too, is retreating, dropping away from the 200 DMA (1,148.71 oz) & tapping on that post-2011 uptrend line. Ended today at 1,109.82 oz. Both these charts are hinting stocks have not much further to climb. The GOLD PRICE fell back $13.30 (1.05%) for a Comex close at $1,258.70. In the aftermarket it was trading at $1,250.60, $21.40 below yesterday's Comex close. The SILVER PRICE gained 6.1¢ (0.4%) to 1,560.7¢. I hate to make a decision on one of those hysterical "Central bank threw a surprise party" days. That's why I was holding back yesterday. The CFTC's Commitments of Traders reports is negative for both silver and gold prices. Moving Average Convergence Divergence (MACD) indicator has turned down for both. RSI is heading down. Now add to all that gold's retreat today, failing to build on yesterday's gain. Like Beauregard at First Manassas. And silver has gotten nowhere near its 1599¢ high. All this adds to the likelihood of a correction. Whip me if you want, that's what the charts say. I will clap my hand over my mouth and stand tear-drippin' and chastened if silver closes above 1599¢ AND gold closes over $1,280, because that will mean I am dead wrong about any correction. But jes' because I'm a nat'ral born durned fool from Tennessee, even if the market whomps me this time, I'll go right back at it. Fools never learn. Shucks, that's what makes 'em fools! Before I leave, I observe that silver and gold prices have broken out on their weekly charts and gold has broken out upside on its monthly chart, too. So what I am watching for is a correction, not a reversal of the trend. Trend turned up in December. Y'all enjoy your weekend. Aurum et argentum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2016, 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. 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. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Why Negative Rates Can't Stop the Coming Depression Posted: 11 Mar 2016 04:00 PM PST Submitted by Bill Bonner via InternationalMan.com,
About $7 trillion of sovereign bonds now yield less than nothing. Lenders give their money to governments…who swear up and down, no fingers crossed, that they’ll give them back less money sometime in the future. Is that weird or what? Into the UnknownAt least one reader didn’t think it was so odd. “You pay someone to store your boat or even to park your car,” he declared. “Why not pay someone to look out for your money?” Ah…we thought he had a point. But then, we realized that the borrower isn’t looking out for your money; he’s taking it…and using it as he sees fit. It is as though you gave a valet the keys to your car. Then he drove it to Vegas or sold it on eBay. A borrower takes your money and uses it. He doesn’t just store it for you; that is what safe deposit boxes are for. When you deposit your money in a bank, it’s the same thing. You are making a loan to the bank. The bank doesn’t store your money in a safe on your behalf; it uses it to balance its books. If something goes wrong and you want your money back, you can just get in line behind the other creditors. The future is always unknown. The bird in the bush could fly away. Or someone else could get him. So, when you lend money, you need a little something to compensate you for the risk that the bird might get away. A New Level of AbsurdityThat’s why bonds pay income – to compensate you for that uncertainty. Inflation, defaults, depression, war, and revolution all raise bond yields because all increase the odds that you won’t get your money back. That’s why countries with much uncertainty – such as Venezuela – have higher interest rates than countries, such as Switzerland, where the future is probably going to be a lot like the past. Venezuelan 10-year government bonds yield 11%. The Swiss 10-year government bond yields negative 0.3%. The interest you earn on a bond is there to compensate you for the risk that you won’t get your money back. Or that the money you do get back when the bond matures will have less purchasing power than the money you used to buy the bond in the first place. You never know. Maybe the company or government that issued the bond will go broke. Or maybe the Fed will cause hyperinflation. In that case, even if you get your money back, it won’t buy much. With interest rates at zero, lenders must believe that the future carries neither risk. The bird in the bush isn’t going anywhere; they’re sure of it. As unlikely as that is, negative interest rates take the absurdity to a new level. A person who lends at a negative rate must believe that the future is more certain than the present. In other words, he believes there will always be MORE birds in the bush. Boneheaded LogicThe logic of lowering rates below zero is so boneheaded that only a PhD could believe it. Economic growth rates are falling toward zero. And at zero, it normally doesn’t make sense for the business community – as a whole – to borrow. The growth it expects will be less than the interest it will have to pay. That’s a big problem… Because the Fed only has direct control over the roughly 20% of the overall money supply. This takes the form of cash in circulation and bank reserves. The other roughly 80% of the money supply comes from bank lending. If people don’t borrow, money doesn’t appear. And if money doesn’t appear – or worse, if it disappears – people have less of it. They stop spending…the slowdown gets worse…prices fall…and pretty soon, you have a depression on your hands. How to prevent it? If you believe the myth that the feds can create real demand for bank lending by dropping interest below economic growth rates, then you, too, might believe in NIRP. It’s all relative, you see. It’s like standing on a train platform. The train next to you backs up…and you feel you’re moving ahead. Negative interest rates are like backing up. They give borrowers the illusion of forward motion…even if the economy is standing still. Or something like that. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Daily and Silver Weekly Charts - Central Banks As Financial Cosmeticians Posted: 11 Mar 2016 01:27 PM PST | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 11 Mar 2016 01:01 PM PST This post Central Bankers on the Brink appeared first on Daily Reckoning. At some point, you have to bow to the inevitable. "By now," says Jim Rickards, "it's clear that Janet Yellen will not raise interest rates when the Fed meets next Wednesday." Yes, we know. For nearly three months, Jim said the Federal Reserve had to preserve its credibility by raising the fed funds rate in March — a follow-up move to the increase in December. Jim's in Switzerland this week, presenting to a group of the biggest and most sophisticated institutional investors hosted by a leading Swiss wealth manager. But he's still keeping a pulse on events back home. And those events have clearly shifted within the last couple of days. "My expectation was that the market rebound since Feb. 11 would give the Fed a green light to raise rates," he reminds us. It's been an impressive rebound from the minor meltdown that began as soon as the calendar flipped to 2016…
"It seems the Fed was more spooked than I expected, and they are literally afraid to raise rates for fear of another meltdown." No doubt: Traders in futures tied to the fed funds rate have been pricing in a 0% probability of a rate increase next week. Hell, this morning they're saying there's a 4% probability the Fed will cut back to "near zero" rates — reimposing the seven-year state of monetary emergency that was lifted only last December!
This is Janet Yellen's dilemma: Which is worse for the Fed's credibility? Pausing the rate hike cycle she began only three months ago? Or massively violating market expectations reflected in the chart above? Markets don't like surprises. She's opting for the less-worse choice and pausing. The Fed's credibility will be torn only to shreds, not bits. But then what? "All that happens is the rate policy debate now shifts from March to June," says Jim. "At that point, they will either have to raise rates (causing a train wreck with market expectations) or wait again. And at that point, we'll be into election season and rate hikes will become difficult for political reasons." Speaking of damaged credibility, how about the market reaction to the European Central Bank's "bazooka"? As we noted yesterday, the ECB over-delivered on market expectations — doubling down on both negative interest rates and "quantitative easing." Yet European stocks took a spill by the end of the trading day… and the major U.S. indexes were flat once the closing bell rang. "Markets brushed off the efforts," says the Dow Jones newswire, "raising questions about whether [the ECB] and other central banks still have the tools to bolster weakening growth and inflation after years of easy-money policies." We'll answer the question right here and now: They don't. "Evidence is beginning to accumulate," says Jim, "that negative interest rates produce the opposite effect that central bankers intend." We've already told you how negative interest rates are backfiring in Japan, mere weeks after they were imposed. In theory, negative rates spur people to borrow and spend, rather than lose money keeping their savings in the banks. But in reality, everyday Japanese have been pulling their cash out of banks… and stashing it home safes, of which there's now a shortage. Makes sense: Negative interest rates are a desperate measure, a signal of trouble ahead. What do people instinctively do when they sense trouble ahead? They sock away cash for a rainy day. Besides, why go out and spend your money if deflation is a bigger risk than inflation? "The effectiveness of QE is also being called into question by recent academic research," Jim adds. When a central bank implements QE and buys government bonds, it drives up the price of those bonds… and drives down the rates on those bonds. "The idea," Jim explains, "is that if long-term rates are lower, investors will seek higher yields elsewhere by bidding up the prices of stocks and real estate. These higher prices in stocks and real estate create a 'wealth effect' that makes investors feel richer. Based on this wealth effect, investors should spend more money and stimulate the economy." That's the theory, anyway. In practice, the Fed engaged in QE on and off for six years, to the tune of $4.5 trillion… and economic growth has remained stuck in low gear, barely 2% a year. "The entire edifice of the Federal Reserve and the dollar rests on a single point of failure — confidence." So Jim writes in his latest book, The New Case for Gold — and talk about auspicious timing. Whether in Europe or Japan or the United States, confidence in central bankers is being lost. Not coincidentally, gold put in a six-year low at $1,050 late last year. It's already up more than $200 since then. As Jim said in this space last month, gold is no longer acting like a commodity or an investment. It's acting like money. "It is competing with central bank fiat money for asset allocations by global investors," he said. "That's a big deal because it shows that citizens around the world are starting to lose confidence in other forms of money such as dollars, yuan, yen, euros and sterling." Chances are if you read us regularly, you know that story. But did you know about…
Jim talks about it all in The New Case for Gold — due for publication April 5. If you have a valid U.S. mailing address, we'll send you a free copy signed by Jim — as long as you can spot us the $4.95 shipping and handling. You'll also have the chance to listen in on an exclusive intelligence briefing drawn from the information Jim is picking up in Switzerland. "A major event will soon take place that is going to shake the very foundations of the gold markets," he says — and you'll be among the first to know. Get your free hardback copy right here. There's no obligation. Not even one of those long videos to watch. Sign up now and we'll ship it to your door as soon as it comes off the press. Regards, Dave Gonigam P.S. 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 Central Bankers on the Brink appeared first on Daily Reckoning. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| GDXJ ETF - Gold Junior Stocks Strong in Dark Posted: 11 Mar 2016 12:57 PM PST With gold miners’ stock prices surging dramatically this year, investors’ attention is starting to return to the gold juniors. These smaller miners and explorers suffered terribly in recent years, all but abandoned as gold slumped to major secular lows. But even during gold’s darkest quarter, the fundamentals of the juniors actually mining gold remained quite strong. This portends explosive profits growth as gold recovers. Most investors think of junior gold stocks as the Wild West of commodities stocks, with good reason. The legendary American humorist Mark Twain allegedly described a gold mine as a hole in the ground with a liar at the top! There are literally hundreds of gold juniors, a number that swells whenever gold grows more popular. And the great majority of these tiny companies truly are junk, they are indeed doomed to fail. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold, Stocks and the Miners Analysis Posted: 11 Mar 2016 12:48 PM PST One is the star of the year so far, grinding higher in what could be the launch phase of a new bull market as confidence wanes in the face of NIRP and other desperate global policy actions, and the realization that this disgraceful policy designed to spur speculation and asset price appreciation is all policy makers have got left in their bags of tricks. The endgame is a bag with a hole in it; a monetary black hole. The other grinds on in what could be the last significant hope replenishing bounce before new downside is explored. Various US and global indexes are already in bear markets but casino patrons are trained to look at the S&P 500, Nasdaq 100 and Dow as “the stock market” and these have not yet gone ‘bear’. If the current bear-trend bounce fails however, that confirmation would be coming promptly. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Day the Dollar Bait-and-Switch Died… Gold May Boom Posted: 11 Mar 2016 12:34 PM PST Did you know that Thursday was one of the most critical market days in recent memory, one that should be internalized by gold bulls, currency traders and equity investors alike. It was the day the latest central banking “bait and switch” died. What did we learn? The dollar is done tightening in any meaningful way. And the euro is done loosening. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Welcome To The Currency War, Part 22: China Devaluation Watch Posted: 11 Mar 2016 12:30 PM PST Not so long ago, a big Chinese currency devaluation seemed both inevitable and imminent. The story went like this: China had borrowed tens of trillions of dollars in response to the Great Recession and squandered much of it on uncompetitive factories and ghost cities. The companies and governments that own these worthless assets were about to about to go broke en masse. China would, as a result, have no choice but to cut the yuan’s value by as much as 40% to make domestic debts manageable and export industries competitive. Hedge funds, led by Hayman Capital's Kyle Bass, were gearing up to bet billions on this event. From a Bass report to his investors (via the Value Walk website):
There’s much, much more in Bass’ letter, all of it pointing to an epic crisis in which the exposure of China’s fake growth numbers, historically-unprecedented levels of malinvestment and evaporating foreign exchange reserves combine to force a devaluation. But apparently not yet:
So is the China devaluation thesis false or just early? History teaches that huge imbalances seldom just evaporate. Most of the time they’re rectified through sudden, wrenching change — market crashes, recessions/depressions and, yes, devaluations. In China’s case, the combined effects of an overvalued currency and a global slowdown have caused its exports to plunge, while supporting the yuan has forced it to burn through nearly half a trillion dollars of foreign exchange reserves in the past year. Since it can’t fix the global economy, devaluation seems to be the only remaining tool in the box.
But history also teaches that imbalances can persist for a shockingly long time before causing a crisis. So add the overvalued yuan to the list of Money Bubble sub-sections that should have blown up long ago — and will certainly blow up one of these days — but for now, somehow, are still going. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| What Scientists say you should Eat Posted: 11 Mar 2016 12:00 PM PST This post What Scientists say you should Eat appeared first on Daily Reckoning. Individuals have far more control over their health and longevity than they might guess, and a lot of it hinges on what they eat. So the once-every-five-years nutrition guidelines issued recently by the Departments of Agriculture and Health and Human Services deservedly get a lot of attention. The new advice from our government for the next five years is not Earth-shaking, but it does put a lot of pressure on two poisons that most canned, processed and boxed foods are chock-full of: sugar and salt. Unfortunately, it's almost laughable that the new guidelines allow consumers up to 10% of their daily calories from sugar, but it is the first time the government, widely criticized for years now by consumer groups and doctors for being lax, has actually declared that Americans eat far too much sugar and that they should limit their intake. New York's mayor Michael Bloomberg could have told them that a decade ago. The guidelines suggest not consuming more than 2,400 mg of sodium (from salt) every day, which some health advocates say is at least twice as much as you should eat. The guidelines do acknowledge that 90% of Americans eat more than 2,400 mg every day. Possibly because the food industry continues to spend millions of dollars lobbying government agencies, there is no mention in the guidelines of eating less red meat, which is increasingly linked to cancer and heart disease. Michael F. Jacobson, president of the Center for Science in the Public Interest, said of the new guidelines: "The federal government's basic nutrition advice has remained largely unchanged for the past 35 years. The problem is that the food industry has continued to pressure and tempt us to eat a diet of burgers, pizzas, burritos, cookies, doughnuts, sodas, shakes and other foods loaded with white flour, red and processed meat, salt, saturated fat and added sugars, and not enough vegetables, fruit and whole grains." Well, there you have it — almost everyone is in denial of the obvious truth. Meanwhile, you may not be surprised that the National Cattlemen's Beef Association praised the new guidelines. Meat is a nearly trillion-dollar business in the United States. In 2014, according to the Center for Responsive Politics, the meat lobby spent $10.9 million in political campaign contributions and $6.9 million directly lobbying the federal government.  A new federal guideline to foods you should eat does not call for limiting consumption beef, much to the consternation of beef the scientists who advised the government. But it does acknowledge that Americans eat far too much salt and sugar. The insanity of our federal food guidelines is that the Agriculture Department and HHS commissioned a special panel to offer advice and then completely ignored it. The 2015 Dietary Guidelines Advisory Committee recommended flat out that people reduce their consumption of red meat and processed meats, especially beef and pork. If you really want to know what to eat, you can look over the advisory committee's report here. It was put together by an extraordinary team of scientists and is worth reading. To your health and wealth, Stephen Petranek The post What Scientists say you should Eat appeared first on Daily Reckoning. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SILVER OUTBREAK: Investment Demand Will Totally Overwhelm The Market Posted: 11 Mar 2016 11:01 AM PST SRSRocco Report | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold just collects dust? Two more financial companies disagree Posted: 11 Mar 2016 10:00 AM PST 1:05p ET Friday, March 11, 2016 Dear Friend of GATA and Gold: "Bullion is not liquid," says Ian Lee, a business school professor at Carleton University in Ottawa, Ontario, Canada. "It sits down in the basement and collects dust": http://www.ctvnews.ca/business/canada-s-gold-reserve-sell-off-makes-sens... Tell that to, among others, AuSecure -- -- still another company that is mobilizing vaulted gold for trading, payment, and saving purposes all over the world. Today AuSecure became partners with Uphold, which describes itself as "the world's fastest-growing cloud-based financial service platform." According to the announcement, Uphold customers now can redeem money in their accounts for gold -- "coins or bars in any weight or denomination" -- through AuSecure: https://uphold.com/en/press-media/posts/press-releases/uphold-partners-w... "'Gold investment is something that everyone should make -- no matter your country, currency, or portfolio,' said Hadi Saeid, founder and CEO of Ausecure. 'Our integration with Uphold provides the opportunity for our customers to have an even more accessible, secure, and transparent experience in buying, holding, moving, and redeeming gold.'" Of course you have to do your own due diligence with such financial companies. They are not banks with government insurance for their deposits. On the other hand, since they're not banks, they may be less susceptible to "bail-ins" and freezing of accounts by governments. Your metal should be kept outside the government-controlled banking system. In any case let's get past the propaganda of college professors and financial establishment pundits who know only the past, not the present and future: Gold remains not just money but superior money, and with negative interest rates descending like vultures on the world, gold's advantages as money increase every day. CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Free Storage with BullionStar in Singapore Until 2016 Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore. Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop-shop for precious metals in Singapore. Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage is FREE until 2016 and will have the most competitive rates in the industry thereafter. For more information, please visit Bullion Star here: Join GATA here: Mines and Money Asia http://asia.minesandmoney.com/ Mining Investment Asia http://www.mininginvestmentasia.com/ Support GATA 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 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: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| TF Metals Report interviews GATA chairman on resilience of monetary metals Posted: 11 Mar 2016 09:15 AM PST 12:14p ET Friday, March 11, 2016 Dear Friend of GATA and Gold: GATA Chairman Bill Murphy, interviewed for a half hour yesterday by the TF Metals Report's Turd Ferguson, discussed the growing resilience of monetary metals prices, indications that price suppression is failing as metal moves from West to East, the need for the physical market to overpower the paper market before a bull market in the monetary metals resumes, and other topics. The interview can be heard at the TF Metals Report's Internet site here: http://www.tfmetalsreport.com/podcast/7501/a2a-bill-murphy-gata CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT We Are Amid the Biggest Financial Bubble in History; With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong. Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed. Crucial guides to storage in Singapore and Switzerland can be read here: http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore http://info.goldcore.com/essential-guide-to-storing-gold-in-switzerland GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals. Email the GoldCore team at info@goldcore.com or call our trading desk: UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010. Visit us at: http://www.goldcore.com Join GATA here: Mines and Money Asia http://asia.minesandmoney.com/ Mining Investment Asia http://www.mininginvestmentasia.com/ 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 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: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Juniors Strong in Dark Q4 Posted: 11 Mar 2016 09:01 AM PST Zealllc | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Greetings from Myanmar (Burma) Posted: 11 Mar 2016 09:00 AM PST This post Greetings from Myanmar (Burma) appeared first on Daily Reckoning. This is my very first trip to the country. Let me tell you… A lot of people will get rich in Myanmar in the next 10 years. I mentioned before that Saigon, where I currently spend most of my time, is booming. Well, Myanmar is Saigon 15 years ago. The country was literally walled off to outside world for 50 years until 2012. Now it’s game on. There's a flood of foreign capital coming into the country. You can see construction cranes everywhere. Check out this cool picture…
That's me walking outside the Shwedagon Pagoda, also known as the Great Dagon Pagoda and the Golden Pagoda. It's the most sacred Buddhist pagoda in Myanmar. That's 60 tons of real gold, by the way. p>I also came across this giant Buddha inside an old warehouse.
It's 217 feet long. Isn't that cool? I'll have more to say about Myanmar in the future. For now, I want to switch to India, a county that borders Myanmar. I recently recorded a podcast to talk about an incredible story that took place in India in 1865. Few people have heard this story. But it has an important lesson for our age of boom and busts. I hope you enjoy it. In this episode, you'll learn:
Click here to listen to this episode. Please send me your comments to coveluncensored@agorafinancial.com. I'd love to hear your thoughts. Please tell me exactly what you think. Don't sugar coat it! Regards, Michael Covel The post Greetings from Myanmar (Burma) appeared first on Daily Reckoning. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| John Perkins Keynote Address - Declassify the Truth-2015 Symposium Posted: 11 Mar 2016 08:54 AM PST 9/11 As Catalyst For 14 Years of US and Global Domination – John Perkins, author of "Confessions of an Economic Hitman" The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Secret 28 Pages - Push to Declassify -- Wayne Madsen Posted: 11 Mar 2016 08:23 AM PST Wayne Madsen is an American journalist, author and columnist specializing in intelligence and international affairs. He is the author of the blog Wayne Madsen Report. He has been described as a conspiracy theorist. Wikipedia The Financial Armageddon Economic Collapse Blog tracks trends... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 11 Mar 2016 08:21 AM PST This post Bazooka Mario appeared first on Daily Reckoning. And now… today's Pfennig for your thoughts… Good day, and a happy Friday to one and all! Front and center this morning we have to talk about the European Central Bank (ECB) meeting yesterday. You won’t believe what I’m about to tell you happened, but it did, so let’s go to the tape! Remember Bazooka Joe? When I was a young man, I loved Bazooka bubble gum! And the comics that wrapped around the gum were priceless! I was reminded of Bazooka Joe yesterday, when I heard what European Central Bank (ECB) President, Draghi had announced on Thursday. I guess from now on we can call him Bazooka Mario! Because he sure used a Bazooka to deliver his monetary policy yesterday, refusing to wait any longer for previous stimulus measures to take hold. It’s a shame what these Central Bankers will resort to these days, but they do, and now I have to go through all this malarkey. Bazooka Mario first announced that he was cutting their internal rate from 0.50% to 0%. Then he announced that he was going deeper into negative rates for Bank deposits from -0.30 to -.40%. And then the knockout blow came from the announcement that he was going to increase their Quantitative Easing/bond buying to 80 billion euros each month. But that’s not all! Before stepping away from the podium, Bazooka Mario had one more shot, and that was that the ECB would now accept corporate bonds, in addition to their already approved government bonds. Whew! I’m worn out just talking about all that hocus-pocus that the ECB and Bazooka Mario (don’t worry I won’t keep calling him that after today) had for us to digest yesterday. I call it hocus-pocus because it has about as much chance to stimulate an economy as I do becoming invisible! Just ask Japan, because they’ve been attempting to jump start their economy for over two decades. And then look at the U.S. – they didn’t hike rates for nearly a decade, they did three rounds of bond buying, and had a near zero interest rate policy for longer than most would have thought. Wasn’t it Albert Einstein that said, “the definition of insanity is doing the same thing over and over again and expecting a different result.”? Needless to say, the euro got whacked and whacked good, which was deserved, considering what the euro’s Central Bank, the people that are supposed to be the euro’s protector, did to it yesterday. But, and I must make that a Big But, all those losses were reversed and the euro went on a rampage! What, what? How could that be? The ECB and Bazooka Mario just threw the euro under a bus moving at high speed, and yet the euro surges higher? Well, bust my buttons! Fundamentals thrown out the window, let’s just trade from the seat of our pants from here on out, eh? I just don’t get it. But, I’m not going to fight city hall here. The euro hasn’t seen the up-side of 1.11 in a month. The last time the euro got the wild haired idea to climb higher, Bazooka Mario threw it under a bus, but now the euro is climbing again, hat will Bazooka Mario do next? When the dust settled yesterday afternoon, the euro had climbed 3.7% to 1.1219 in one day! But then profit taking, Hey! Who can blame them?, set in.. and the euro began to give back its gains, falling all the way back to 1.1105, where it trades as I write. You know, a thought just crossed my fogged brain. Maybe euro traders looked at the Bazooka monetary policy as a last gasp effort by the ECB, and that there would be no more stimulus measures implemented, which would mean they could look forward, and that’s what got them buying euros and running the price up 3.7% on the day. Maybe, just maybe, but I like the seat of their pants trading description much better. So, now we have one down and one to go. Next Wednesday, the Fed’s FOMC will meet. What will they do, what will they do? Does this throwing everything including the kitchen sink at the Eurozone economy by the ECB, tell the Fed that the Global economy is so week that the Fed had better not hike rates next week? Hmmm… Good question. The Fed Funds Futures still have a 0% chance of a rate hike next week priced in. That’s pretty telling, right? But. I’m still of the opinion that the Fed is not going to be swayed by the weak economic data coming not only from around the world, but also here at home, and will step up and hike rates next week. If they do that, it will drive a HUGE divide between the U.S. and the Eurozone, and it should. I repeat should, but doesn’t necessarily mean it will, see the euro lose a large chuck of its value. But, then, given the events of yesterday, fundamentals have been thrown out the window, so who knows? So, out with the safe-havens yesterday! Go on, get out the door, and don’t come back, is how the so-called safe havens were treated yesterday and overnight. Yen’s fairy tale recovery has bit the dust, gold is on the losing end of trading again this morning, and the 10-year U.S. Treasury has lost a ton, seeing yields rise from 1.86% to 1.95% (remember in bonds, as the yield rises, the price of the bond goes down, and vice versa) And the dollar got whacked vs. the euro. And that feeling of not needing the so-called safe havens has carried over to this morning, as the Chinese allowed the renminbi to appreciate at the largest one-day appreciation rate in four months. So, this morning, the currencies are mixed again, with the Chinese renminbi being the best performer overnight, and the Russian ruble right behind the renminbi. The large appreciation of the renminbi has allowed the antipodeans to rally too this morning, with the New Zealand dollar/kiwi trying to put the rate cut in its rear view mirror. The price of oil has climbed another run of the ladder and trades this morning with a $38 handle. And the Petrol Currencies of: Canada, Russia, Mexico and Brazil are all taking advantage of this latest step higher for oil. Absent is the Norwegian Krone, UGH! The krone just can’t seem to catch a break, when it comes to trading alongside the price of oil. In fact, I would think, just by the look of things that the krone has become tied more to the euro than to oil. Just an observance, and if I had a trusty assistant, they could do some research for me, and put it on some fancy graphs to either prove or disprove what I just said. HA! The S. African rand is also up there at the top of the list of best performers this morning. I find this to be more of a move that plays alongside the Russian Ruble and Brazilian real, because S. Africa printed some really weak factory orders and output data yesterday for January, and wouldn’t warrant this kind of positive reaction in the currency if it were just based on the data! Well, I told you above that the so-called safe havens were shown the door yesterday, and that includes gold. UGH! But I’m going to focus on silver this morning. A Bloomberg article on silver, caught my attention this morning, so I’ll make the silver people happy this morning! I’m actually both, being a gold and silver kind of guy. And you wouldn’t believe the emails I get asking me why I don’t like silver, because all I talk about is gold. Well, strap yourself in, here goes some thoughts on silver!
The U.S. Data Cupboard is basically bare again today, with only reports on Import Prices on the docket. I misread the calendar yesterday morning, and thought the February Retail Sales would print today, but that’s set for next Tuesday, the 15th! How could I misread that? Hey! The numbers are small, the sun was in my eye, I tripped on rock, and a bug flew in my ear! No harm, no foul, here, Chuck, just move along before somebody gets hurt! For What It’s Worth. Yesterday I highlighted the liquidity crunch in the new 10-year Treasury, and about two years ago, I began talking about a liquidity crisis that would occur in bonds. You see, I saw Central Banks around the world buying bonds by the bushel full, and leaving just scraps for bond traders and buyers to deal with. Well there have been some signs lately that the liquidity crisis is nearing. I told you about the Mr. “X” who told Jim Rickards that bond liquidity is already a problem, and that big deals that used to get done in minutes now takes days and even weeks to complete. So, when I see an article on Zerohedge.com about the liquidity problem, I just have to grab it for you. Here’s the link to the whole article, and here’s the snippet:
Chuck again. I think the charts that the article has on the web page I gave you the link for above, illustrate this problem much better than anyone can explain it. But it’s here folks, the liquidity crunch is here, and from here on out, things are going to get worse. Uh-Oh. That’s it for today. Have a fantastico Friday, and don’t forget to be good to yourself! Regards, Chuck Butler P.S. 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 Bazooka Mario appeared first on Daily Reckoning. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| What Is Dark Money And How Does It Influence Elections? Posted: 11 Mar 2016 05:48 AM PST The 2016 U.S. presidential campaign is on the path to become the most expensive elections, thanks in part to dark money. So what is dark money? The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists ,... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Rises To 13 Month High as ECB ‘Bazooka’ Shoots Blanks Posted: 11 Mar 2016 05:18 AM PST Gold prices climbed to a 13-month high in dollar terms overnight ($1,282.51) after the increasingly adventurous, dare one say reckless, European Central Bank unleashed its latest ‘bazooka’ and initiated more interest-rate cuts, a significant extension in currency printing and bond purchases and also a potential subsidy to banks lending. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Crumbling U.S Empire Drives Russia and China to Move into Gold Posted: 11 Mar 2016 05:14 AM PST Central bankers have been on a massive Gold Buying Spree led by Russia and China. One must remember that not only is Putin ex-KGB, but he is also an economist and holds a black belt in judo. Judo teaches you to use your opponent's momentum to defeat him or her, and that appears to what Putin is doing. He has this administration running circles, by the time they figure out what he is up to, it is too late to do anything. Putin and China can see that the writing is on the wall that the days of U.S holding the top spot are numbered. Our economy is in shambles and only appears to look strong because of the hot money that is holding it up. Regarding illusions, it is a perfect illusion and for now, the masses have bought it, but Russia and China have not. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| London Gold Price Fix Rigging - Fact or Myth? Posted: 11 Mar 2016 05:12 AM PST The London Gold Market is a part of the London Bullion Market, which is a wholesale over-the-counter market for the trading gold and silver, coordinated by the London Bullion Market Association. It is the wholesale market - the usual minimum size of transaction is 2,000 ounces of gold (while the standard size is 5,000 ounces) - individual investors are practically excluded from the market. The London Gold Market was the most important gold market until the 1970s, when the American Commodity Exchange Inc. (Comex) started to trade gold futures and soon gained prominence. Currently, the gold market is dominated by these two centers of gold trading. The Comex dominates the market in gold futures, while the London Gold Market is by far the largest global center for over-the-counter (OTC) transactions. It is also the biggest marketplace for gold in the world by the volume of trade (the London OTC spot market is about ten times higher that of the U.S. futures market), which clears the annual mining production of gold every few days. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Protect Your Wealth – Buy Gold Before It Reaches $2,000 Posted: 11 Mar 2016 03:41 AM PST Protect Your Wealth – | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| And then there were none: Canada sells its gold Posted: 11 Mar 2016 03:31 AM PST Resource Investor | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Blockbuster Uranium Call and Best Metal and Oil Plays Posted: 11 Mar 2016 03:11 AM PST The event-driven hedge fund Rosseau LP has beat its benchmark by over 50% since inception in 1998, and its founder and CIO Warren Irwin says it does so by going deep, looking at very specific events or situations that are special within industry sectors. Irwin made his name by shorting Bre-X some 20 years ago and hasn't looked back. In this interview with The Gold Report, Irwin gives us a peek into Rosseau's portfolio, discussing opportunities that he is excited about in metals, uranium and oil. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Forex Markets Uncertainty Around ECB Decisions Posted: 11 Mar 2016 03:06 AM PST Earlier today, the euro declined against the U.S. dollar once again as uncertainty around today's ECB decisions continues to weight on the European currency. Thanks to these circumstances, EUR/USD dropped under the barrier of 1.1000. Will we see a test of the recent lows in the coming days? In our opinion, the following forex trading positions are justified - summary: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Near-Term Gold Forecast: The Thrill of Victory and the Agony of Indecision. . . Posted: 11 Mar 2016 12:00 AM PST Man-oh-man, the heat I am taking over my recent "Caution" stance on the near-term outlook for gold and silver is now verging on the theatre of the absurd, says precious metals expert Michael Ballanger. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Technician: Bear Market Rally; Gold Gets a Buy Signal Posted: 10 Mar 2016 04:00 PM PST Until proven otherwise, to us it's a bear market rally and it looks very similar to what happened back in September-October of last year with the rally into November... One interesting statistic is that when you have a two-term president, the eighth year is generally a negative year... |
Neil Bush, the son of President George H. W. Bush, who defrauded U.S. taxpayers out of $1.5 billion dollars in the savings and loan scam, and later peddled influence for the Chinese government, (who plied him with Chinese prostitutes) has formally endorsed Senator Ted Cruz for president. You can't make this stuff up.
Like everything else in our financial system, applying the term "bull market" to the stock market is a fraud. It hasn't really been a bull market it's been more like a b.s. market…what's going to happen to this stock market is going to be far worse than what we saw in 2008. – per my conversation with Kerry Lutz on his Financial Survival Network show
This graph to the right shows that China's economic weakness is tied directly to a collapse in its exports to the U.S., the EU and Japan. The E.U. and the U.S. are China's two largest export markets. Is it really China's fault that the amount of goods being imported by these two markets has plummeted?
Gold is in a hurry and is unlikely to wait for investors to acquire it at anywhere near these prices. We could now see a quick move to $1,400 and if gold doesn't stay too long at that level, the acceleration is likely to continue towards the previous high of $1,900.
Not so long ago, a big Chinese currency devaluation seemed both inevitable and imminent. The story went like this: China had borrowed tens of trillions of dollars in response to the Great Recession and squandered much of it on uncompetitive factories and ghost cities. The companies and governments that own these worthless assets were about to about to go broke en masse.
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