Gold World News Flash |
- China's yuan gold benchmark to launch with 18 members, source tells Reuters
- The April Emergency The Fed Doesn’t Want You To Know About
- GATA Chairman Murphy interviewed by CrushTheStreet.com
- 'Systemically important,' derivatives hustler CME Group gets account at Fed
- Podcast: A Potentially Brutal Earnings Season Kicks Off
- The April Emergency The Fed Doesn’t Want You To Know About – Mike Maloney
- Surging Mining Stocks Point to Big Move Ahead in Gold and Silver
- Physical Gold & Silver Demand Rising as Economy Slows Globally
- Canada Sells All Of Its Gold!
- "My Daddy’s Rich And My Lamborghini’s Good-Looking": Meet The Rich Chinese Kids Of Vancouver
- Chinese Stocks, Yuan Rally After Exports Rebound From February Bloodbath, Imports Fall For 17th Month In A Row
- Shanghai Gold Exchange Withdrawals a Brisk 183 Tonnes of Gold Bullion for March
- Visualizing The Energy & Mineral Riches Of The Arctic
- SocGen: "Now We Know Why The Fed Desperately Wants To Avoid A Drop In Equity Markets"
- Fmr. CIA director: Waterboarding may be useful in extreme circumstances
- Silver Price Rose 59 cents or 3.79% to $16.22
- Economic Collapse Indicators Are Now Coming Together To Form A Perfect Storm
- The Inflation-Adjusted Price Of Gold
- I-CIA-SIS Plots Nuclear False Flag via Dark Web
- Why Isn't ISIS Attacking Israel?
- 13 Steps to Restore American Prosperity (Part I)
- Our Argentine “Ranch Rebellion” Is Over… for Now…
- Days are numbered -- Jim Rickards
- The escape of The ex-wife of ISIS Leader al-Baghdadi
- Panama Papers Proves Most Offshore Investments are Legal
- Shhh, Gold is Back Above $1,250
- Surging Mining Stocks Point to Big Move Ahead in Gold and Silver
- One Chart Reveals Fed's True Intent; Wreck Havoc on The Middle Class
- Gold Money or Digital Money?
- Gold Commitments of Traders
- Silver Price Surges 8% In 6 Days To Over $16 Per Ounce
- Former Yellen adviser proposes sweeping reform of Fed system
- Strength of HUI gold share index impresses Embry
- Bloomberg TV and Times of India TV interview GATA secretary about gold market rigging
- Long and Intermediate Trends Crushing Gold and Silver Commercials…
- Silver Price Climbs to $16, Confirming Gold’s Breakout
| China's yuan gold benchmark to launch with 18 members, source tells Reuters Posted: 13 Apr 2016 12:21 AM PDT By A. Ananthalakshmi SINGAPORE -- Top Chinese banks and gold miners, along with the world's biggest jewellery retailer, will be among 18 members taking part in Beijing's new yuan-denominated gold benchmark, a source familiar with the matter said. Two foreign banks will also join the benchmark-setting process when it launches on April 19, marking China's biggest step to become a price-setter for gold. As the world's top producer, importer, and consumer of gold, China has balked at having to depend on a dollar price in international transactions, and believes its market weight should entitle it to set the price of gold. A yuan gold fix is not expected to pose an immediate threat to the gold pricing dominance of London and New York, but it could ultimately give Asia more power, particularly if the Chinese currency becomes fully convertible. ... ... For the remainder of the report: http://www.reuters.com/article/china-gold-fix-idUSL3N17G1Z5 ADVERTISEMENT Silver mining stock report comes with 1-ounce silver round Future Money Trends is offering a special 18-page silver mining stock report about how to profit with the monetary and industrial metal, and it comes with a free 1-ounce silver round. Proceeds from the report's sales are shared with the Gold Anti-Trust Action Committee to support its efforts to expose manipulation in the monetary metals markets. To learn about this report, please visit: 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| The April Emergency The Fed Doesn’t Want You To Know About Posted: 13 Apr 2016 12:17 AM PDT Gold Stock Bull | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| GATA Chairman Murphy interviewed by CrushTheStreet.com Posted: 12 Apr 2016 10:27 PM PDT 1:26p SGT Wednesday, April 13, 2016 Dear Friend of GATA and Gold: Interviewed by CrushTheStreet.com, GATA Chairman Bill Murphy discusses whether the Shanghai Gold Exchange will challenge Western futures market for the pricing of gold, the possibility that silver mining shares are signalling an explosion in the silver price, and the refusal of the president of the Federal Reserve Bank of New York to answer whether the Fed is involved in gold swaps. The interview is 15 minutes long and can be heard at CrushTheStreet.com here: http://www.crushthestreet.com/videos/live-interviews/china-goldsilver-pr... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT USAGold: Coins and bullion since 1973 USAGold, well known for its Internet site, USAGold.com, offers contemporary bullion coins and bullion-related historic gold coins for delivery to private investors in the United States, Europe, Canada, Australia, and New Zealand. It is one of the oldest and most respected names in the gold industry, with thousands of clients and an approach to investment that emphasizes guidance and individual needs over high-pressure sales tactics. The firm's zero-complaint record at the Better Business Bureau makes it an ideal match for the conservative, long-term investor looking for a reliable contact in the gold business. Please call 1-800-869-5115x100 and ask for the trading desk, or visit: USAGold: Great prices, quick delivery -- all the time. 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 'Systemically important,' derivatives hustler CME Group gets account at Fed Posted: 12 Apr 2016 10:05 PM PDT CME Group Says It Is Preparing to Open Account at the Fed By Ann Saphir CME Group Inc. said on Tuesday it has received notice from the Federal Reserve that it is authorized to open an account at the U.S. central bank, allowing it to better safeguard cash deposited by its traders. Deposits in the account will be limited to clearing member proprietary margins, CME said in an advisory to its members. CME is working with the Chicago Fed to open the account and will let members know how much interest it will pay on balances "as we get closer to an account opening date." CME, which operates one of the world's biggest derivatives clearinghouses and several exchanges including the Chicago Mercantile Exchange, applied for access to Fed services in 2014, after its clearinghouse was designated a "systemically important" financial institution as part of the Dodd-Frank Wall Street reform act. ... ... For the remainder of the report: http://www.reuters.com/article/us-cme-group-fed-idUSKCN0X92TJ ADVERTISEMENT Direct Ownership and Storage of Precious Metals Goldbroker.com is a precious metals investment company that enables investors to own and store gold directly in their own name (no mutualized ownership) in Zurich and Singapore. Goldbroker's clients are not exposed to any counterparty risks. They own gold and silver in their own names (the ownership certificate cites the name of the investor and serial number of his bars) and they have storage accounts opened in their own name as well. So Goldbroker.com's storage partner knows the exact identity of each investor. Goldbroker.com doesn't store in the name of its clients; rather, Goldbroker's clients store personally. All investors have direct access to their gold and silver bars. Goldbroker.com was launched in 2011 so that investors would avoid any counterparty risk when investing in physical gold and silver. Goldbroker.com is listed among GATA's recommended monetary metals dealers: To invest or learn more, please visit: 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Podcast: A Potentially Brutal Earnings Season Kicks Off Posted: 12 Apr 2016 10:00 PM PDT Most US companies will report earnings this month, and most analysts think the results will depressing. That’s bad news for stock prices and might add to the (already considerable) pressure on governments to step up their stimulus programs. Gold and silver, meanwhile, seem to like all this financial turmoil. This posting includes an audio/video/photo media file: Download Now | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| The April Emergency The Fed Doesn’t Want You To Know About – Mike Maloney Posted: 12 Apr 2016 09:47 PM PDT Gold Stock Bull | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Surging Mining Stocks Point to Big Move Ahead in Gold and Silver Posted: 12 Apr 2016 09:00 PM PDT by Stefan Gleason, Activist Post:
Eventually, the stocks will get ahead of their underlying fundamentals, as is always the case in momentum-driven markets. Investors will then find greater value and stability in the physical metals. Physical precious metals will at some point take center stage and outperform the miners.
For now, the miners are taking the lead and blazing a path higher for the metals markets. Gold mining stocks often serve as a leading indicator for gold prices. Of course, on any given day, the share prices of miners can move based on business or market peculiarities that are wholly unrelated to spot gold. But when gold equities trend upward in a significant way, as they have so far this year, we can infer that some big-money investors are betting on a big recovery in gold prices. It's the gold price, after all, that is the biggest factor in most miners' prospects for realizing profits. But it would be a huge mistake for investors to treat gold/silver mining, streaming, and exploration companies as if they were proxies for the metals themselves. Physical precious metals are an entirely separate asset class. A gold or silver coin can't go bankrupt. A mining company can go bust for any number of reasons – poor management, an environmental disaster, a credit crisis, etc. Money Metals columnist David Smith has detailed all the risks for our readers. Historically, investors in mining companies have suffered through extreme booms and busts with little on net to show for the punishment they've endured.In fact, gold stocks have vastly underperformed gold spot prices over the past couple decades. Gold prices trade more than three times higher today than they did 20 years ago. Yet the HUI, despite its recent run up, actually trades slightly lower today than it did back in April 1996. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Physical Gold & Silver Demand Rising as Economy Slows Globally Posted: 12 Apr 2016 08:40 PM PDT from Junius Maltby: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 12 Apr 2016 08:00 PM PDT from CanadaCoinHunting: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| "My Daddy’s Rich And My Lamborghini’s Good-Looking": Meet The Rich Chinese Kids Of Vancouver Posted: 12 Apr 2016 07:40 PM PDT By now, the only people in the world who are not aware that Vancouver has been overrun by Chinese "hot money-parking" oligarchs, who rush to buy any and every available real estate leading to such grotesque charts as the following showing the ridiculous surge in Vancouver real estate prices...
... are officials from the prvincial government conveniently turning a blind eye to what is a very clear real estate bubble. Which perhaps is understandable - for now prices are only going up, giving the impression that all is well even if it means locking out local buyers from being able to purchase any local housing. It will be a different story on the way down. But instead of focusing on the culprit of this regional housing bubble, this time we'd like to present the "rich kids" of the Vancouver's new invading billionaire class, who according to the NYT are also filthy rich. Meet Andy Guo, an 18-year-old Chinese immigrant, who loves driving his red Lamborghini Huracán. He does not love having to share the car with his twin brother, Anky. "There's a lot of conflict," Mr. Guo said, as a crowd of admirers gazed at the vehicle and its vanity license plate, "CTGRY 5," short for the most catastrophic type of hurricane.
The story behind the story is well-known. As the NYT summarizes, "China's rapid economic rise has turned peasants into billionaires. Many wealthy Chinese are increasingly eager to stow their families, and their riches, in the West, where rule of law, clean air and good schools offer peace of mind, especially for those looking to escape scrutiny from the Communist Party and an anti-corruption campaign that has sent hundreds of the rich and powerful to jail." Their target of choice: Vancouver.
The stats are also known:
And according to Knight Frank, in the last year alone Vancouver home prices soared by 25%, the most in the entire world "due to lack of supply, foreign demand and weaker Canadian dollar." Understandably, residents angry about the rise of rich foreign real estate buyers and absentee owners, particularly from China, have begun protests on social media, including a #DontHave1Million Twitter campaign. The provincial government agreed this year to begin tracking foreign ownership of real estate in response to demands from local politicians. But neither the soaring prices, not the groundswell in anger has had any impact on the new class of uberwealthy Chinese. Indeed, as the NYT adds, "the anger has had little effect on the gilded lives of Vancouver's wealthy Chinese. Indeed, to the newcomers for whom money is no object, the next purchase after a house is usually a car, and then a few more." One group of people is particularly happy: local car dealers.
You will know them by their Lamborghinis: hundreds of young Chinese immigrants, along with a handful of Canadian-born Chinese, have started supercar clubs whose members come together to drive, modify and photograph their flashy vehicles, providing alluring eye candy for their followers on social media.
From left, Loretta Lai, Chelsea Jiang and Diana Wang attended a reception Call it the rich Chinese kids of Instagram... in Vancouver.
Because they are rich, they are confident they own the town: "occasionally, the need for speed hits a roadblock. In 2011, the police impounded a squadron of 13 Lamborghinis, Maseratis and other luxury cars, worth $2 million, for racing on a metropolitan Vancouver highway at 125 miles per hour. The drivers were members of a Chinese supercar club, and none were older than 21, according to news reports at the time." And when a mere Lamborhini is not enough, there is always a Rolls-Royce: On a recent evening, an overwhelmingly Chinese crowd of young adults had gathered at an invitation-only Rolls-Royce event to see a new black-and-red Dawn convertible, base price $402,000. It is the only such car in North America. For some, such as Jin Qiao, 20, the price is no object: a baby-faced art student he moved to Vancouver from Beijing six years ago with his mother. During the week, Mr. Jin drives one of two Mercedes-Benz S.U.V.s, which he said were better suited for the rigors of daily life.
Ms. Jiang at the Lamborghini dealership. Credit His most prized possession is a $600,000 Lamborghini Aventador Roadster Galaxy, its exterior custom wrapped to resemble outer space. A lanky design major who favors Fendi clothing and gold sneakers, Mr. Jin extolled the virtues of exotic cars and was quick to dismiss those who criticized supercar aficionados as ostentatious. "There are so many rich people in Vancouver, so what's the point of showing off?" he said. Where does the money come from for these "toys" which most people will live all their lives and never be able to afford? His parents of course. Asked what his parents did for work, Mr. Jin said his father was a successful businessman back in China but declined to provide details. "I can't say," he stammered with evident discomfort. The corruption behind the nouveau China riche is well known, but as long as its flows those on the receiving end of the fund flows, are happy. "In Vancouver, there are lots of kids of corrupt Chinese officials," said Shi Yi, 27, the owner of Luxury Motor, a car dealership that caters to affluent Chinese. "Here, they can flaunt their money." Not every has a penchant for supercars. Take Diana Wang, 23, who thinks a supercar is a poor investment, because its value decreases over time. "Better to spend half a million dollars on two expensive watches or some diamonds," said a University of British Columbia graduate student who said she owned more than 30 Chanel bags and a $200,000 diamond-encrusted Richard Mille watch.
Ms. Wang, right, at the Lamborghini reception. Left, Paul Oei Now those are some good investments. Her business accumen has helped her land a starring role on the online reality show "Ultra Rich Asian Girls of Vancouver," and normally drives her parents' Ferrari or Mercedes-Maybach when she visits them in Shanghai. But, get this, in Canada, her parents gave her a strict car budget of 150,000 Canadian dollars ($115,000), so she drives the less-flashy Audi RS5. "I could be in danger if people saw me in a supercar," she said, her Breguet watch, worth more than a BMW, glinting in the sunlight as she drove the Audi through town. But don't call Ms. Wang spoiled: four years ago, to learn the value of money after her friends criticized her spending habits, Ms. Wang spent three days on the streets of Vancouver, playing homeless. She said she had left her mansion with no phone, identification or wallet, wearing Victoria's Secret pajamas and $1,000 Chanel shoes. While in voluntary poverty, she lined up for donated food and felt the sting of humiliation after she was kicked out of a Tim Horton's fast-food restaurant for falling asleep at a table. The experiment, she said, gave her a new appreciation for her parents' financial support. "Before that experience, I never looked at a price tag," she said. "Now I do." | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 12 Apr 2016 07:13 PM PDT After February's bloodbath in Chinese trade data, expectations were for a scorching hot rebound in March. With PBOC's Yuan 'basket' devaluation accelerating throughout this period it should not be surprising that Yuan-based China exports soared and imports beat expectations (but fell 1.7% - extending the losing streak to 17 months in a row). For now, oil and stock (US and China) prices are rising in reaction to this "good" news. Offshore Yuan is drifting stronger against the dollar.
Yuan has been plunging against China's largest trading partners...
And so maybe Jack Lew has a point when he complains about competitive advantage...
USD-based data is published later in the evening. And under the covers...
What will Mr.Trump think of all this? | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Shanghai Gold Exchange Withdrawals a Brisk 183 Tonnes of Gold Bullion for March Posted: 12 Apr 2016 06:48 PM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Visualizing The Energy & Mineral Riches Of The Arctic Posted: 12 Apr 2016 06:10 PM PDT The Arctic has been the fascination of many people for centuries. Hundreds of years ago, the Europeans saw the Arctic’s frigid waters as a potential gateway to the Pacific. The region has also been home to many unique native cultures such as the Inuits and Chukchi. Lastly, it goes without saying that the Arctic is unsurpassed in many aspects of its natural beauty, and lovers of the environment are struck by the region’s millions of acres of untouched land and natural habitats. However, as VisualCapitalist.com's Jeff Desjardins notes, the Arctic is also one of the last frontiers of natural resource discovery, and underneath the tundra and ice are vast amounts of undiscovered oil, natural gas, and minerals. That’s why there is a high-stakes race for Arctic domination between countries such as the United States, Norway, Russia, Denmark, and Canada. Today’s infographic highlights the size of some of these resources in relation to global reserves to help create context around the potential significance of this untapped wealth.
 Courtesy of: Visual Capitalist
In terms of oil, it’s estimated that the Arctic has 90 billion barrels of oil that is yet to be discovered. That’s equal to 5.9% of the world’s known oil reserves – about 110% of Russia’s current oil reserves, or 339% of U.S. reserves. For natural gas, the potential is even higher: the Arctic has an estimated 1,669 trillion cubic feet of gas, equal to 24.3% of the world’s current known reserves. That’s equal to 500% of U.S. reserves, 99% of Russia’s reserves, or 2,736% of Canada’s natural gas reserves. Most of these hydrocarbon resources, about 84%, are expected to lay offshore. There are also troves of metals and minerals, including gold, diamonds, copper, iron, zinc, and uranium. However, these are not easy to get at. Starting a mine in the Arctic can be an iceberg of costs: short shipping seasons, melting permafrost, summer swamps, polar bears, and -50 degree temperatures make the Arctic tough to be economic. Original graphic by: 911 Metallurgist | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| SocGen: "Now We Know Why The Fed Desperately Wants To Avoid A Drop In Equity Markets" Posted: 12 Apr 2016 05:45 PM PDT With the ECB now unabashedly unleashing a bond bubble in Europe of which it has promised to be a buyer of last resort with the stronly implied hint that European IG companies should issue bonds and buy back shares, and promptly leading to the biggest junk bond issue in history courtesy of Numericable, it will come as no surprise that the world once again has a debt problem. For the best description of just how bad said problem is we go to SocGen's Andrew Lapthorne, one of last few sane analyzers of actual data, a person who first reveaked the stunning fact that every dollar in incremental debt in the 21st century has gone to fund stock buybacks, and who in a note today asks whether "central bank policies going to bankrupt corporate America?" His answer is, unless something changes, a resounding yes. Here are the key excerpts:
Well that, and another reason: as of this moment one can measure the daily credibility of central banks by whether stocks closed higher or lower; too low and everyone starts talking about how CBs no longer have credibility and how they would rather Yellen et al would stop micromanaging everything... and then everyone quiets down when stocks surge back to all time highs. Alas, this means that the markets have not only stopped being a discounting mechanism (or rather they only discount what central banks will do in the immediate future), but have also stopped reflecting the underlying economy a long time ago, something will remains lost on all of the "smartest people in the room." | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fmr. CIA director: Waterboarding may be useful in extreme circumstances Posted: 12 Apr 2016 04:48 PM PDT Former CIA Director James Woolsey on the use of waterboarding, interrogation tactics and terror threats. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver Price Rose 59 cents or 3.79% to $16.22 Posted: 12 Apr 2016 04:36 PM PDT
Silver did it! Silver closed above 1617¢, at 1622¢, up 24.6¢ (3.8%). Gold only rose $2.70 (1.14%) to $1,259.40, but it rose all the same. US dollar index has clung so tenaciously to its weakness that suspicious folks, like some nat'ral born durned fools in Tennessee, begin to suspect it's a-happenin' on purpose, that the Nice Government Men are doing it. Today the dollar index climbed an inconsequential 4 basis points (0.05%) to 93.99. 'Tain't no recovery -- just rallied to the downtrend line. Wicked Witch of the East Janet Yellen & Barnard O'Bama must be sweating hotdum-dums watching the stock market crumple in an election year. What better way to levitate it than allowing the US dollar to sink? Y'all understand that, viewed from one angle, price rises when the dollar sinks reflect nothing more than re-pricing at the dollar's newly lower value. Thus, Other Things Being Equal (they ain't never, but listen a minute), if the dollar falls stocks, oil, silver, & gold should rise. The greater question, and the one that requires X-ray vision into circumstances, is whether those markets are gaining MORE than the dollar is losing. Right now, silver & gold ARE. Appearance for now is that commodities -- not including gold & silver, which are a different class -- after 8 years falling may have put in that bottom we've been expecting in 2016's first half. WTIC troughed on 1 April. Look at the chart, http://schrts.co/Lgqpuw WTIC began a colossal decline last July from $62.58/bbl to $26.05 in February 2016, a 58% loss. But the chart shows it broke out over that intermediate downtrend line in March, rallied to 42.49 and the 200 day moving average, backed off to the downtrend line again for the final kiss goodbye, and since 1 April has rocketed In the last two days it gapped up and punched through the 200 DMA like Alexander the Great punching through the Persians at Gaugamela. Hard not to see a turnaround and breakout there. Copper has behaved differently, but also has established an uptrend since January. Ditto for the CRM Commodity index. Is that dollar weakness or inflation market strength? Are the inflation markets reading their crystal ball? Sure looks that way. Even stocks rose today. Dow added 164.84 (0.94%) to 17,721.25 & the S&P500 rose 19.73 (1.04%) to 2,061.72. Remains in the downtrend ruling since the 1 April highs, lower highs and lower lows. Doubtful today altered that. Yen tripped and fell 0.58% today, closing at 92.1. Leaves behind what may be an island reversal. Gap down tomorrow would clinch it. Euro fell 0.22% to $1.1385. Euro doesn't need any encouragement to stumble. What hath happened since 6 April 2016? In those six days gold gained 3%, the Gold/Silver ratio fell 4.4%, and silver has added 7.8%. Gold/Silver ratio fell another 1.3% today. What hath silver wrought? It hath closed through that 1600+ barrier, above the last high. Behold, the beautiful chart, http://schrts.co/4wL00t Backing up in time, the high before this last one was in May 2015 at 17.775¢, so that becomes our Must Exceed target Can silver do it? Counting what I believe I see on the chart, silver could reach 1875¢. Wait, wait. Silver MUST improve today's close tomorrow. Now that it's got the skeer on, it has to keep the skeer on. No excuses will wash. Bear ye in mind that when silver crosses 1650¢ it will cross the downtrend line from the April 2011 high. At that point it will attract buyers like picnics attract fire ants. Gold chart lives here, http://schrts.co/D8N3Nb While silver takes the lead, it's enough that gold merely keeps advancing. Next hurdle lies at $1,272. Gold is being held down by disbelief right now, but when it pops through $1,272 or $1,288 the disbelief will vanish like morning mist in the July sun, all shorts will run for cover, and gold will be racing with the pedal to the metal. 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Economic Collapse Indicators Are Now Coming Together To Form A Perfect Storm Posted: 12 Apr 2016 04:34 PM PDT IMF reports that the Greek debt cannot be sustained. UK retail sales declined, weather and Easter are being blamed. Homeless school children in the US increased 38% since 2009. The American family is now being economically destroyed. Used car prices are falling which will have an impact on new car... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Inflation-Adjusted Price Of Gold Posted: 12 Apr 2016 04:15 PM PDT Graceland Update | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| I-CIA-SIS Plots Nuclear False Flag via Dark Web Posted: 12 Apr 2016 03:34 PM PDT Welcome to New World Next Week — the video series from Corbett Report and Media Monarchy that covers some of the most important developments in open source intelligence news. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Why Isn't ISIS Attacking Israel? Posted: 12 Apr 2016 02:00 PM PDT PETITION, Please Sign, Make lock-down of territories in America illegal: 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! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 13 Steps to Restore American Prosperity (Part I) Posted: 12 Apr 2016 01:53 PM PDT This post 13 Steps to Restore American Prosperity (Part I) appeared first on Daily Reckoning. When history gets into a deep rut it becomes hard to alter the course of affairs. But even at this late date, sundown in America could be avoided. The Fed's financial repression and Wall Street-coddling policies could be pronounced a failure and abandoned. Crony capitalism could be put out of business by constitutional writ. The corpulent warfare and welfare states could be put into a constitutional chastity belt. The rule of no spending without equal taxation could be made the modus operandi of a shrunken state. Eventually, the free market could regain its vigor and capacity for wealth creation. Under a régime of sound money and honest finance, the 1% could continue to enjoy their opulence by earning it the old-fashioned way — by delivering society inventions and enterprise that expand the economic pie, rather than reallocate it. The crucial steps that would be needed are few but large. They would never be adopted in today's régime of money politics, fast money speculation, and Keynesian economics. But they can be listed. And they are compelling… #1 Restore Banker's Bank and Sound Money. The Fed's open market operations and interest rate pegging would be abolished in favor of a mobilized discount rate at a stiff penalty over the money market. Humphrey-Hawkins would be repealed and all other Fed mandates with respect to the macro-economy or equity and debt markets would be rescinded. The Fed has created enough central bank credit for the next thirty years, meaning that it would not need to buy government debt or otherwise monetize securities for the foreseeable future. In reverting to the role of a banker's bank, it would examine collateral presented at the discount window and ensure ultimate liquidity of the banking system, while bringing free market interest rates back into the center of financial markets. With open market purchases eliminated, the FOMC and the 12 regional reserve banks could be abolished: bank applicants for discount loans would mainly transact online with the borrowing desk at the Eccles Building. Over the next decade, the natural roll-off of maturing treasury and agency securities would automatically shrink the Fed's balance sheet to the September 15, 2008, level (under $1 trillion), thereby paving the way for a the way for a full return to sound money, that is, a gold-backed dollar. #2 Abolish Deposit Insurance and Limit the Fed Discount Window to Narrow Depositories. The abomination of deposit insurance would be abolished, and the Fed's discount window would be open only to "new charter" national banks. These charters would be offered to "narrow" depository banks which would take deposits and make loans, but would be banned from trading, underwriting, or agenting any business in securities, derivatives, commodities, or whole loan paper they had not originated. A postal banking system would be set up by the federal government for blue-haired ladies and timid savers who were unwilling to risk putting their savings into uninsured, chartered banks, but they would receive a penalty interest rate below the chartered bank rate to compensate the federal government for use of its balance sheet and credit rating. #3 Adopt Super Glass-Steagall II. The great Wall Street Banks would be put out in the cold to compete as enterprises on the free market without recourse to funding from insured deposits or access to the Fed discount window. Pursuant to the implementation of Glass-Steagall II, the large banks would be forced to divest their deposit banking business, and cap their balance sheets at 1 percent of GDP ($150 billion) for ten years in order to regenerate honest, competitive financial markets and to reduce the risk of crony capitalist recidivism." #4 Abolish Incumbency Through an Omnibus Amendment. The US Constitution would be subject to an Omnibus Amendment, a twenty-first-century "reset" to restore viability, honesty, and functionality to democratic governance. Accordingly, the terms of the president and House and Senate members would be set at six years, staggered elections to the Congress would occur every two years, and no incumbent of federal office could stand for reelection. The electoral college would also be abolished, bringing the nation into the modern world of one citizen, one vote. Federal election campaigns would be funded strictly with public funds and the time for federal campaigns would be limited to two months every other year. No federal campaign money would be available before that designated election period, and it would be illegal to campaign for federal office with private money. Additionally, no former federal office holder would be allowed to lobby and the Citizens United decision would be explicitly overturned and replaced with a ban on election funding and legislative lobbying with corporate or union funds. The overall purpose of the Omnibus Amendment would be to rid the nation of a permanent governing class, and weaken the political parties to the point of their disappearance, as they would have no useful purpose in the citizen-based government provided under the amendment. #5 Require Each Two-Year Congress to Balance the Budget. A crucial component of the Omnibus Amendment would be a strict requirement that the federal budget be balanced within the two-year term of each Congress other than under a constitutionally valid declaration of war. Enforceability would be guaranteed by a monthly certification from the secretary of the treasury that the run rate of spending and revenues were on track to achieve the balanced budget requirement over the two-year term. The certification would be signed by the president and the top officers of the Treasury Department, upon Sarbanes-Oxley-type criminal penalties for knowing misrepresentation or willful negligence. In the absence of certification, spending run rates would be automatically cut across the board to the estimated run rate of revenues." #6 End Macroeconomic Management. Separate the State and the Free Market. The Keynesian predicate would be abolished by virtue of the Omnibus Amendment. Accordingly, the state would be separated from the free market by a sturdy fence. The outcomes of the latter in terms of wealth, living standards, GDP, jobs, housing starts, and shipments of container-board would be determined on the free market by the actions of consumers, producers, savers, and investors. If there weren't enough jobs, wage rates would tend to fall until there were enough jobs to balance supply and demand; that is, the free market would be in charge of job creation, not Washington and its crony capitalist gangs. Tune in tomorrow for part II… Regards, David Stockman 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. 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| Our Argentine “Ranch Rebellion” Is Over… for Now… Posted: 12 Apr 2016 01:37 PM PDT This post Our Argentine "Ranch Rebellion" Is Over… for Now… appeared first on Daily Reckoning. BUENOS AIRES, Argentina – Not much action on Wall Street yesterday. The Dow sold off slightly. Gold and oil were up a bit. How about here in Argentina? "Everything has changed. Everything." One of the analysts in our Buenos Aires office explained how the recent election of business mogul Mauricio Macri as president was an even bigger deal than we thought. "Two parties have ruled Argentina for the last 100 years. The Peronists… and the Radicals. They both had the same agenda more or less – more government control of the economy. The only question was which cronies would benefit. "But Macri is with neither party. That is an astonishing break with the past. But it goes beyond that. He's also a rich businessman. This is unheard of in Argentina. Businessmen are the enemy here. Now, we have one at the head of the government. "It's a miracle he got elected. He's much better than anyone running for office in the U.S. We're lucky to have him." [Paid-up Inner Circle members can read more on what's ahead for Argentina – and the Argentine stock market – from our Buenos Aires team here.] Profound ChangeAlready, we have heard rumors of the profound change coming from our ranch. Our local rebels – who had been backed by the former president, left-wing populist Cristina Kirchner – are becoming more reasonable. [Catch up here on last year's "Revolution on the Ranch."] Kirchner sponsored "indigenous" groups in the hope of gaining more support for her troubled government. These groups paid organizers and activists – including at least one, apparently, on our ranch – to preach insurrection. "Fiestas" (parties) were held – at taxpayer expense – in which the local people were encouraged to break the law by seizing our land. They were told that they had a claim that went above and beyond settled principles of property law: simply because ancestors had come from the area (which may or may not have been true). But everything has changed in the last few weeks. A group of these "originarios" invaded two of the ranches near us. Normally, the police would not have intervened. And the owner would have to agree to give them money… or land… to buy them off. But now it is different. Instead of allowing the originarios to shake down the owners, the police arrived, arrested the leaders, and drove the rest of them off the property. According to our sources, the ringleaders are still in jail. All of a sudden, the families up in the mountains are starting to show some respect… or at least some apprehension. "You Won't Believe This…""You won't believe this," began a message from our ranch manager, "but [the three rebel families that live up in the mountains of our ranch] came to me and offered to pay their rent. "They haven't even allowed us to count their animals in years. [They are supposed to pay us 7% of their herds annually.] "Now, they want us to count… and they're willing to pay. This is a big shift. I think our problems with the local people may be over. At least for now." "At least for now" may not last long. A friend in Buenos Aires warned: "The Cristina government laid landmines all over the place. Some of them are bound to blow up. It is not at all clear that Macri will survive. "Just last week, he raised electricity bills some 400%. Power is still ridiculously cheap. I pay just $3.75 a month for electricity in my apartment… and it's all electric. I keep thinking that they made a mistake in calculating it. But it just shows the wacky results of controlling prices for such a long time – you don't know what anything should cost. "Of course, the government has to raise prices. There's been no new investment in power production for the last 12 years. That's why we have blackouts in the summer. It's like a Third World country here. "Inflation is already rising. And it will probably go up a lot more. For example, the government has eased the restrictions on food exports. They had to do it. You can't run a country by cutting off its main source of export income. But in the short run, it will mean higher food prices." Making Enemies"Macri may have moved too far, too fast," continued our friend. "He's making enemies. That was bound to happen… but he can't afford to make too many. "He fired about 25,000 'gnocchi' – you know, people on the government payroll who never come to work. They don't even have desks or pretend to work. They just go into the office on the 29th of the month to get their checks. [Traditionally, Argentines eat gnocchi on the 29th… hence the moniker.] "Macri has even fallen out with big business. You'd think he'd have the business community solidly behind him. But many of them did their deals with the Kirchners. They paid their bribes. They got their crony contracts. "They don't want to lose the privileges they paid for. So, now the media is reporting that many of the movers and shakers in the private sector are against him, too. "They're all looking for some way to bring the president down. The latest thing is the scandal over those accounts in Panama. His father set up an account there… years ago… even before Macri entered politics. He was a signatory on the account, which had no money in it. And Macri never made any money from it. "I mean, it's not a story at all. But they're desperate to get something on him. Regards, Bill Bonner 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 Our Argentine "Ranch Rebellion" Is Over… for Now… appeared first on Daily Reckoning. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Days are numbered -- Jim Rickards Posted: 12 Apr 2016 12:07 PM PDT Jim Rickards is an American lawyer. He is a regular commentator on finance, and is the author of The New York Times bestseller Currency Wars: The Making of the Next Global Crisis, published in ... Wikipedia The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| The escape of The ex-wife of ISIS Leader al-Baghdadi Posted: 12 Apr 2016 11:47 AM PDT WORLD EXCLUSIVE: She was married to Abu Bakr al-Baghdadi, the most wanted man in the world and together they have a daughter. "He was a normal family man. How he could become Emir of ISIS is a mystery" The Financial Armageddon Economic Collapse Blog tracks trends and forecasts ,... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Panama Papers Proves Most Offshore Investments are Legal Posted: 12 Apr 2016 09:43 AM PDT This post Panama Papers Proves Most Offshore Investments are Legal appeared first on Daily Reckoning. That's what the headlines should have proclaimed. But they didn't. Instead, when announcing the theft of more than 11.5 million records from Panamanian law firm Mossack Fonseca, the mainstream media once again equated "offshore" with "tax evasion," "money laundering," and other criminal behavior. Here are a few headlines describing the release of the so-called "Panama Papers":
And there are comments like this one, from economist Gabriel Zucman: "These findings show how deeply ingrained harmful practices and criminality are in the offshore world." I'm sure you get the idea. Except the stolen documents reveal very little actual criminality. If you read past the headlines, you'll see statements like these:
Indeed, according to the International Consortium of Investigative Journalists (ICIJ), which coordinated the review of the leaked documents, more than 214,000 offshore entities appear in the leak. Yet only a handful of them are tied to any wrongdoing. It turns out that senior politicians in many countries use offshore companies to shield their assets. That's slightly embarrassing, especially if those same politicians have railed against all things offshore. But there's little evidence these efforts broke any laws. For instance, the leaked records show British Prime Minster David Cameron received tax-free income from an offshore investment set up by his father. But the profits he made were subject to UK tax, and there's zero evidence he failed to pay it. Evidence in the leaked documents also suggests cronies of Russian President Vladimir Putin used Mossack Fonseca to set up a network of offshore companies. And that the family of Chinese strongman Xi Jinping did the same. But it's far from clear if Putin, Jinping, or other politicians with offshore companies actually did anything illegal. Yes, there are hints of criminal activity, such as the suggestion that Mossack Fonseca facilitated efforts to circumvent economic sanctions imposed by the US against 33 blacklisted individuals. There are also some titillating details in the analysis of the 214,000 offshore entities, such as the revelation that a US businessman convicted of traveling to Russia to have sex with minors also had an offshore company. That company had nothing to do with his activities in Russia. In addition, the leaked documents show that about 3,500 shareholders of offshore companies have a US connection. Of those, only a handful were shown to have been used illegally. In other words, 99%+ of the offshore companies with a US connection appeared to be used for legitimate purposes. Indeed, as the ICIJ grudgingly admits, there are perfectly valid reasons to use offshore companies and trusts. Here are a few of them:
The bottom line is it's perfectly legal to invest and do business internationally, and in many cases, an offshore company or trust can make it easier and more efficient to do so. It's also quite clear that the vast majority of individuals and companies dealing offshore aren't violating any law. Remember that the next time you see a headline equating "offshore" with tax evasion, money laundering, and other criminal activity. Regards, Mark Nestmann 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 Panama Papers Proves Most Offshore Investments are Legal appeared first on Daily Reckoning. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Shhh, Gold is Back Above $1,250 Posted: 12 Apr 2016 09:01 AM PDT This post Shhh, Gold is Back Above $1,250 appeared first on Daily Reckoning. And now… today's Pfennig for your thoughts… Good day, and a Tom terrific Tuesday to you! Front and center this morning, the price of oil has bumped higher again overnight and now trades with a $40 handle. The petrol currencies from: Russia, Norway, Brazil, Canada, Mexico and even the U.K. are getting bought like funnel cakes at a State Fair this morning, and the dollar, for the most part is on the run. The euro has climbed above 1.14, but it all has to do with dollar weakness, as I explained yesterday that the euro was waiting for the next leg down in the dollar, and we’re seeing it this morning. All indications to me are that the dollar’s 5-year strong trend, is ending. Not without a fight, but that’s how these things usually end, with the strong asset, fighting to remain relevant, and having good days sprinkled in that become fewer and further in when they appear, until, Puff the Magic Dragon ceases to roar. Of course equities are moving higher too, and that sends chills up my spine, but I’m reminded that a star burns the brightest right before it burns out. Well, Japanese yen, being Japanese yen, one has to figure that the Japanese officials, PM Abe (and his Abenomics) and Bank of Japan (BOJ) Gov. Kuroda (Abe’s henchman for implementing policy), have to be tossing and turning, they’re tossing and turning all night! In fact, yen is a bit weaker this morning, because of some war of words by Finance Minister Aso. When PM Abe first announced his three arrows later to be called “Abenomics”, one of the things he mentioned was that “the currency would weaken”. When asked about that, he made it clear that the he wanted to see yen lose 1/3 of its value to bring inflation into the Japanese economy. Well, let’s see, the three arrows were first introduced in 2012. My has time flown by, eh? And to think that by now, Japanese yen would probably be nearing 200. Instead, yen has been in rally mode. What’s a Central Banker to do? Well, there are those among us who have thought that the BOJ would be intervening soon to get the markets to back off their pushing the currency envelope with yen so far. But I read the other day that PM Abe, isn’t so keen on intervention. Let’s listen in to PM Abe talk about this. When asked about the recent strength in the yen and weakness in the Chinese renminbi and instability in other currencies, PM Abe had this to say:
So – what’s it gonna be Abe? You promised us four years ago that yen would weaken and stay weak, and now you’re saying that Japan shouldn’t competitively devalue or intervene to get yen weak. The traders are going to test the BOJ’s mettle. Will the BOJ stand up to the Traders? Oh, you’ve got me tossing and turning, tossing and turning all night! And I’ll follow all that narrative up with a quick note from the great analyst and writer, Grant Williams, who responded to this statement from an analyst commenting on what the BOJ must do. “For any BOJ action to have market traction beyond a short-term response, they need to beat the markets to a pulp and make it concede.” And Grant replied. “When will these fools learn? You can’t beat markets to a pulp and make them concede, but that won’t stop them trying.” Great response Grant, and my sentiments exactly, as I’ve always said, the markets have much deeper pockets than any Central Bank. The dollars of Australia (A$) and New Zealand/kiwi, are really heating up this morning, with the price of oil higher, the Chinese in favor of appreciating the renminbi, and equities showing signs of a strong open in the U.S. the “risk” sentiment is back! And don’t look now but the price of gold finally climbed back over $1,250, quietly I might add. A nice gain yesterday took gold to $1,258, but the shiny metal is struggling to get back on the rally tracks this morning. I get worried about a gold rally when I see it stall out, even if it is ever-so-briefly, for these “stalls” give the price manipulators the cover of darkness to pull their shenanigans. In Brazil yesterday, the vote in congress was to impeach president Dilma Rousseff. This process now goes to the lower house, where Rousseff’s critics aren’t as strong in numbers, so there’s still a chance she might survive the impeachment process. It’s a slight chance, but a chance that she’s happy to take! The real has really gotten caught up in this political process, and now it has the price of oil in its corner too. Seems like a trap to me. The Fed will meet this month on April 27th. Hey! That day will get here before you know it! I don’t believe the Fed will hike rates that day, and that was my position, before Fed Chair, Janet Yellen was summoned to the White House for a meeting with the President. WOW! When was the last time that has happened? Well, I guess it all depends if you consider the lunches that Bush used to have with Big Al Greenspan as the same thing as being summoned to the White House. I don’t, so that means that the last time this has happened was in 1951, when President Harry Truman summoned the entire FOMC board to the White House. So that’s more years than I’ve been alive, and I’ve seen fire and I’ve seen rain, I’ve sunny days that never end, and so on. So, it’s been a long time, and inquiring minds would have loved to be a fly on the White House wall during that meeting. Let’s do some role playing and have some fun with this. President of the U.S. (POTUS) “Welcome Janet, don’t mind Joe Biden, he always hugs our guests. I’m going to play Richard Nixon today, and you’re going to play Arthur Burns (Fed Chairman when Nixon was President), I assume you are OK with that? Good.. .let’s get started. In 1971 Nixon sent Burns a note telling him that he needed to loosen up the money supply and cut rates ahead of the election. do you see where I’m going with this? Janet Yellen aka Arthur Burns. “You hit me where that hurts, Mr. Nixon! I am a lifelong Democrat, but I can’t look as though I’m political, and for me to cave in like Burns did in 1972, I doubt I will have much credibility as the markets will see right through that, you have put me in a tenuous position, Mr. President.” Ok, enough of that, I could play that game all day long, even in my sleep that I hope to be in right after I send this out the door today! But, that’s the $64 question isn’t it? Will Yellen cave in to the President like Burns did in 1972? Did I mention that she’s a lifelong Democrat? Oh, I did, sorry to repeat myself like that. I got a chuckle from this opening in Bill Bonner’s Daily Diary yesterday. “”What if you were appointed to head the Fed? In your first week on the job, what would you do?” The question was not exactly serious. Neither was the answer. “We’d call in sick.” The U.S. Data Cupboard isn’t empty today, but it’s certainly not chock-full-o-data that moves markets either! Import Prices, and the Monthly Budget Statement are on tap for today. Keep an eye on that Monthly Budget Statement, as it could really take a leap wider today. Tomorrow, finally I might add, we’ll see something that makes the A-Team of data reports! March Retail Sales will print, and as I told you last week, the BHI (Butler Household Index) indicates this to be a disappointing print again this morning, not negative like in February, but barely with its head above water. So, make certain you come back tomorrow for a preview and Thursday for a recap of the data. Before we head to the Big Finish, I’m going to climb back on my soap box, (I can see the reviewers shivering right now, HA!). Well, I highlighted the Panama Papers story last week, and then even told you about how the Iceland President resigned because of what was revealed. He didn’t do anything illegal, but he also didn’t report his wealth. Now, the more I read about these “papers” the more I think to myself, that this could all be something that was worth it, IF the whistleblower that released the documents to a German newspaper, hadn’t released them to an institution in the West. In other words, I think there’s far too much in those 11 million plus papers, but it won’t get revealed because it would expose institutions and high ranking people in the West, including the U.S. Notice how, so far, they’ve picked on Iceland and some other small countries? I don’t know this for a fact, it’s just my opinion, of which it could be wrong, but things are just lining up this way with every Panama Papers report I read. I took this from Ed Steer’s letter this morning. It’s a snippet of a video that I can’t deal with, so I’ll just give you the text of what I wanted to highlight anyway. Remember Keith Neumeyer? He’s the CEO of a silver mining company that was very outspoken last year regarding price manipulation of silver. So, let’s see what he has to say now about silver:
Chuck again. Well, yesterday, I received my statement of metals holdings at one of the locations I hold them, and all I have to say is I sure hope Keith Neumeyer will be proven to be correct! That’s a Big Old 10-4, good buddy! That’s it for today. And with that thought, I send you on your way to having a Tom terrific Tuesday, and remind you 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 Shhh, Gold is Back Above $1,250 appeared first on Daily Reckoning. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Surging Mining Stocks Point to Big Move Ahead in Gold and Silver Posted: 12 Apr 2016 07:43 AM PDT Spring has sprung for precious metals mining stocks.The HUI gold stocks index surged 6.2% on Monday to close at a 14-month high. The HUI chart shows a strong base was built from last summer through this January, and from that base a new bull market has begun. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| One Chart Reveals Fed's True Intent; Wreck Havoc on The Middle Class Posted: 12 Apr 2016 07:39 AM PDT "Crises refine life. In them, you discover what you are." ~ Allan K. Chalmers What strikes one immediately is that the Fed has been creating money hand over fist; one hand they create money, with the other hand they buy assets and put it on their books, all looks well until you realize this is something called monetization of debt. Paper buying more paper and in most nations this leads to hyperinflation and a currency collapse. However as the Dollar is the world reserve currency. The Fed can magically create money out of thin air and use this newly created money to pay bills and or prop up markets as is currently the case. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 12 Apr 2016 04:45 AM PDT Guest Post from Graham Reinders, an intelligent man with vast experience. (slightly edited) What Do We Want From Gold? Roosevelt proved that gold was a political/financial tool, and its value is politically governed. Nixon proved two things: that the “Gold Standard” was nothing more than an arbitrary political tool, and indeed he made gold “legally” not money anymore. To make it illegal is an easy step if necessary. Gold is now such a small fraction of the economy I do not think it matters except as an underground currency. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 12 Apr 2016 04:41 AM PDT There was little change in this week’s Commitments of Traders report when it came to the positioning of traders within the gold futures market. Here is an updated chart reflecting the current composition. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver Price Surges 8% In 6 Days To Over $16 Per Ounce Posted: 12 Apr 2016 03:35 AM PDT Silver bullion prices surged 3.65% yesterday and have surged 8% in just six trading days. Silver rose 56 cents from $15.34 to $15.90 per ounce yesterday, made further gains in Asian and early European trading and broke above the psychological resistance of $16 per ounce. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Former Yellen adviser proposes sweeping reform of Fed system Posted: 12 Apr 2016 02:13 AM PDT By Craig Torres A former aide to Federal Reserve Chair Janet Yellen has broken ranks with his former employer and issued a blueprint for a sweeping reform of the U.S. central bank, including regular government audits and shorter term limits for policy makers. Dartmouth College professor Andrew Levin targeted four areas of change for the Federal Reserve system: make the Fed a fully public institution; ensure that the process of picking regional Fed presidents is transparent; set seven-year term limits for regional presidents and board governors; and make the entire Fed subject to external review. The proposals were taken up by the union-backed activist group Fed Up, which promoted them Monday in a conference call with journalists, and come during an election year where the central bank has been a campaign topic. "There is one key principle in this document, which is the Fed needs to become a public institution," Levin said. "Pragmatic, reasonable Fed reform should be able to be passed by the Congress, by both parties. That is my hope." ... ... For the remainder of the report: http://www.bloomberg.com/politics/articles/2016-04-11/former-yellen-advi... ADVERTISEMENT Silver Coins and Rounds with Employee Pricing and Free Shipping Grab your Silver Starter Kit at cost from Money Metals Exchange, the company named "Precious Metals Dealer of the Year" by industry ratings group Bullion Directory. Simply go to MoneyMetals.com and type "GATA" in the radio box at the top of the page. This special silver offer contains 4 ounces of silver coins and rounds in the most popular 1-ounce, half-ounce, and 10th-ounce forms. Claim yours now, because GATA readers get employee pricing and free shipping. So go to -- -- and type "GATA" in the radio box at the top of the page. Join GATA here: 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Strength of HUI gold share index impresses Embry Posted: 12 Apr 2016 01:58 AM PDT 4:55p SGT Tuesday, April 12, 2016 Dear Friend of GATA and Gold: Sprott Asset Management's John Embry, interviewed by King World News, says gold price suppression is showing strains, the strength of the gold mining index HUI is impressive, and the Sprott silver fund is about to take a huge chunk of metal off the market. An excerpt from the interview is posted at KWN here: http://kingworldnews.com/gold-silver-surge-as-the-global-and-financial-w... 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: 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bloomberg TV and Times of India TV interview GATA secretary about gold market rigging Posted: 12 Apr 2016 12:57 AM PDT 3:55p SGT Tuesday, April 12, 2016 Dear Friend of GATA and Gold: Your secretary/treasurer was interviewed for a few minutes this morning in Singapore by Angie Lau in Hong Kong for Bloomberg Television's "First Up" program, discussing the ever-increasing evidence of surreptitious central bank intervention in the gold market and the need for mainstream financial news organizations to ask central banks some specific questions about it. The interview can be seen at Bloomberg here: http://www.bloomberg.com/news/videos/2016-04-12/gold-advances-on-dollar-... Bloomberg Radio interviewed your secretary/treasurer for about about five minutes in Hong Kong last week. Also today, your secretary/treasurer was interviewed from Singapore by The Times of India's "Economic Times Now" television network in a live broadcast in India. Again the subject was surreptitious intervention against gold by central banks. Video of the program is not available but a transcript of your secretary/treasurer's remarks, headlined "If Central Banks Get Out of Market, Gold Will Pick Up a Lot of Steam: Chris Powell, GATA," is posted at the Times' Internet site here: http://economictimes.indiatimes.com/markets/expert-view/if-central-banks... 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: 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long and Intermediate Trends Crushing Gold and Silver Commercials… Posted: 11 Apr 2016 09:04 PM PDT Precious metals expert Michael Ballanger discusses the tug-of-war going on between the Japanese yen and the U.S. dollar/Chinese yuan, and its effect on precious metals. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver Price Climbs to $16, Confirming Gold’s Breakout Posted: 11 Apr 2016 08:59 PM PDT Hi Ho Silver, Away! Precious metals have registered a blistering start to the year. After more than four years of defeat, gold bulls once again have something to be excited about. The gold price is up 19% year to date and the mining stock ETF (GDX) is up over 60% since the start of the year. Not bad for a barbarous relic! |
Spring has sprung for precious metals mining stocks. The HUI gold stocks index surged 6.2% on Monday to close at a 14-month high. The HUI chart shows a strong base was built from last summer through this January, and from that base a new bull market has begun. Industry major Barrick Gold (ABX) has seen its share price more than double year to date, leading precious metals mining equities as a group to become by far the top performing sector of 2016. As the bull market matures, we can expect leadership to switch from the majors to the mid-tier producers, then on down to the junior explorers.
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