Gold World News Flash |
- JSMineset Premium Off To A Strong Start!
- Gold Price Closed Down $21.80 or -1.75%
- Mike Ballanger: Deutsche Bank silver settlement -- GATA vindicated
- BitGold/GoldMoney aims to eliminate need for gold ETFs
- Deutsche Bank Silver Settlement: GATA Vindicated
- China may have $1.3 trillion of risky loans, IMF report shows
- Deutsche Bank admits it manipulated gold as well as silver market with other banks
- IF WE DON’T STOP THIS, WE’RE DEAD
- The IMF’s Special Drawing Rights, the RMB and gold
- The Weirdest Possible Outcomes For The Strangest Election In U.S. History
- A Potentially Cruel Earnings Season Kicks Off
- Silver Market Manipulation CONFIRMED By Deutsche Bank Legal Settlement, Agrees To Expose Other Banks
- Deutsche Bank Confirms Silver Market Manipulation In Legal Settlement, Agrees To Expose Other Banks
- Banks Are Now Paying People to Take Out Mortgages
- Gold: Wall Streets Lucre
- Leo Zagami : All Eyes on Rome for the Trilateral Commission Meeting
- Harry Dent - The Rally is Over, Crash to 6,000 Dow by 2017
- Alasdair Macleod: The ECB and shadow banking
- John Hathaway: Stage is set for gold's advance to all-time highs
- Silver Manipulation Cultists Cheer “Proofâ€
- John Mcafee -- Caravan To Midnight Show 4.7.2016
- Fed’s Beige Book Gets Dollar Bugs Excited
- Gold Could Explode Higher as Precious Metals Become Shariah Compliant
- Deutsche Bank Concedes a Settlement For Widespread Rigging of the Price of Silver (And Gold)
- It’s Cheaper than Gold – With Way More Upside…
- Chris Powell: Cowardice of press, miners, financial industry sustains gold market rigging
- Ronan Manly: Deutsche Bank will give evidence against other banks in silver rigging
- Deutsche Bank to settle U.S. silver price-fixing litigation
- The Canadian Shield Could Host the Next Bonanza Discovery: Eric Lemieux
- Deutsche Bank Silver Settlement: GATA Vindicated
- Bringing Everyone into The banking System so They can Establish a One-World Bank and Taxation System
| JSMineset Premium Off To A Strong Start! Posted: 15 Apr 2016 12:50 AM PDT Dear JSMineset Premium Gold Reader: JSMineset Premium is underway and off to a great start. Thank you for your interest in this new and additional information stream. Because it is our intention for the gold subscription membership to mirror our previous (Question and Answer) Q&A meetings, we know you will find this content valuable and... Read more » The post JSMineset Premium Off To A Strong Start! appeared first on Jim Sinclair's Mineset. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Price Closed Down $21.80 or -1.75% Posted: 14 Apr 2016 11:40 PM PDT
With all the fury & fervor of an enraged snail, the US dollar index charged ahead today, raking in a massive 15 basis points (0.15%) for a 94.91 close. Not in much of a hurry to pass the 50 DMA, but did close right at the 20 DMA. What happens at 92.55? Picture now is a falling wedge resolved by breaking out upside, forecasting a move higher. Y'all look for yourselves, http://schrts.co/OkJ5UT Euro has the same outlook as a June bug turned loose in a roomful of ravenous hens. Fell today 0.12% to $1.1247. Wore out, beat, going lower. Yen has formed a rising wedge, portending a downward move -- already begun. Closed at 91.36, down 0.13%. Now here's why Franklin doesn't buy stocks. I will just bare my shame. I'm just that much a fool. Today JPMorgan, Bank of America (same initials as the snake that crushes sheep & then swallows them), & Wells Fargo Bank announced 1 Quarter 2016 revenue & earnings, as well as increases in loan loss reserves for oil patch loans expected to flop four-hooves-skyward before too long. Here are their reports for 1Q2016, versus a year ago. JPMorgan's revenue sank 13%, earnings sank 7%, and loan loss reserves increased $591 million. BoA's revenue tumbled 7%, earnings dove 13%, and it added $525 million to LLR, bringing them to $1billion. Wells Fargo's revenue rose 4%, but profits fell 5% and it already has $1.7 billion set aside for anticipated losses. PLUS analysts are predicting a rough year for banks. So what happened? They hit the skids, right? JPM rose 1.29%, BoA rose 2.54%, and the one with the smallest loss, Wells Fargo, sank 0.49%. Wait? Did I fail to mention that the Fed & FDIC issued a report yesterday that these three banks and two others out of the biggest 8 FAILED the so-called living will (liquidation in bankruptcy) test? Shoot, there's another sure reason they ought to rise. So the bank stocks index ($BKX) did rise though that resistance, and may shoot for the 200 DMA, and the Gold/$BKX spread gapped down today to a new low for the move. Yeah, sure, makes sense to me. Them is mighty fine duds the King's wearing, but ain't they a little skin-colorer? I'm such a nat'ral born durn fool hick from Tennessee that if I had money in any of them there hot banks, too big to fail or not, I'd pull it out so fast it'd leave green stains on the teller's fingers. Stocks lost enthusiasm today, stretching to stay in the game. Hit their highs about 1:00, but couldn't hold on even to meager advances. Dow ended up 18.15 (0.1%) at 17,926.43; S&P500 rose -- Susan, hand me the magnifying glass! -- there 'tis, 0.36 (0.02%) to 2,082.78. Stocks are riding on hot air. When it cools all of a sudden, they will sink like Icarus when he flew too close to the sun with them waxed wants. Gold lost 1.75% or $21.80 to close Comex at $1,225.00. Silver lost 0.94% or 15.4¢ to 1616.9¢ Now y'all are goin' to think I'm just being stubborn, but I'm not. Gold & silver are testing the mettle & strength of their uptrend. Gold is lagging, but still closed above that $1,225 that so long held it down and spit in its eye. Silver has not even broken below 1600¢, although it fell overnight to 1593¢, but within an hour it had already climbed over 16. Gentle trend of the rest of the day was upward. Think about that. More people -- lots more people -- want to BUY silver below 1600¢ than want to sell it. Gold faded most of the day after a 7:00 a.m. Eastern peak at $1,245.90. It was NOT a rout, and around $1,225 sellers vamoosed & buyers took the reins. Gold could close at $1,210 and remain within its channel lines, although it did close below its 20 day ($1,237) moving average and its 50 DMA ($1,231). Y'all just cool down and be patient. Remember surprises in bull moves come to the UPside. Me, I'd be buying this dip, not selling it and not freezing my liver with fear. Adam Hamilton is a skilled and careful analyst. He writes Zeal Intelligence newsletter. Here's a link http://bit.ly/1ScSBZ3 to his 1 April article, "Silver is Coiled Spring." It presents a very valuable and useful look at silver's personality, why it acts the way it does. While you are there, check out a subscription to Zeal Intelligence. 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mike Ballanger: Deutsche Bank silver settlement -- GATA vindicated Posted: 14 Apr 2016 10:29 PM PDT 1:26p SGT Friday, April 15, 2016 Dear Friend of GATA and Gold: Deutsche Bank's confession to manipulating the gold and silver markets with other banks is vindication for GATA and repudiation for the organization's critics, Toronto broker and metals market analyst Michael Ballanger writes today. While of course GATA is delighted with the development, Deutsche Bank's confession is even more a vindication for silver market analyst Ted Butler, who was exposing silver market manipulation even before GATA got into the business. GATA won't be able to claim full vindication until central banks and governments echo Deutsche Bank's confession in regard to the monetary metals and mainstream financial news organizations feel compelled to report what has been only obvious for many years. Besides, mere claiming vindication won't actually bestow it. While the aphorism mistakenly attributed to Gandhi has often been cited as encouragement to GATA -- "First they ignore you, then they ridicule you, then they fight you, and then you win" -- our victory more likely will resemble Alfred E. Neuman's adaptation of the aphorism: "First they ignore you, then they ridicule you, then they fight you, and then they go back to ignoring you, explaining that everybody really knew all along what you were trying to tell them and that the joke is still on you." Ballanger's commentary is headlined "Deutsche Bank Silver Settlement: GATA Vindicated" and it's posted at 24hGold here: http://www.24hgold.com/english/news-gold-silver-deutsche-bank-silver-set... CHRIS POWELL, Secretary/Treasurer 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. 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| BitGold/GoldMoney aims to eliminate need for gold ETFs Posted: 14 Apr 2016 09:36 PM PDT 12:34p SGT Friday, April 15, 2016 Dear Friend of GATA and Gold: Grant Williams' Real Vision Internet site has done an interview with Roy Sebag and Josh Crumb, founders of BitGold and executives of GoldMoney, in which they explain their belief that digitized gold is the future of money and saving. "If we do our job correctly," Crumb says, "there will not be a gold exchange-traded fund in 10 years" -- that is, no need for people to own gold in a "securitized vehicle" because it will be so easy for them to own gold itself directly. An eight-minute excerpt from the interview is posted at Real Vision's Internet site here: https://teaser.realvisiontv.com/162686682 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: 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deutsche Bank Silver Settlement: GATA Vindicated Posted: 14 Apr 2016 09:36 PM PDT Michael Ballanger | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| China may have $1.3 trillion of risky loans, IMF report shows Posted: 14 Apr 2016 09:18 PM PDT Another reason for devaluation. * * * From Bloomberg News China may have $1.3 trillion loans extended to borrowers who don't have sufficient income to cover interest payments, with potential losses equivalent to 7 percent of the country's gross domestic product, according to the International Monetary Fund. Loans "potentially at risk" would amount to 15.5 percent of total commercial lending, the IMF said in its latest Global Financial Stability Report. That compares with the 5.5 percent problem loan ratio reported by China's banking regulator after including nonperforming and special-mention loans. The true amount of bad debt sitting on the books of China's banks is at the center of a debate about whether the country will continue as a locomotive of global growth or sink into decades of stagnation like Japan after its credit bubble burst. Hayman Capital Management's Kyle Bass in January flagged a $3.5 trillion potential loan loss for China banks, though analysts from China International Capital Corp. and Macquarie Securities Ltd. have said that estimate overstates the real situation. ... ... For the remainder of the report: http://www.bloomberg.com/news/articles/2016-04-15/china-may-have-1-3-tri... 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 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deutsche Bank admits it manipulated gold as well as silver market with other banks Posted: 14 Apr 2016 08:51 PM PDT Deutsche Bank Settles Silver, Gold Price Manipulation Suits By Christie Smythe Deutsche Bank AG has reached settlements in lawsuits over allegations it manipulated gold and silver prices, lawyers for traders of the commodities said in court filings. Attorneys for futures contract traders in two private lawsuits said in letters filed Wednesday and Thursday in Manhattan federal court that the bank has executed term sheets and is negotiating final details for the accords. The German financial firm also agreed to help the plaintiffs pursue similar claims against other banks as part of the settlements, according to the letters. Vincent Briganti and Robert Eisler, attorneys for traders in the silver-fixing lawsuit, said Deutsche Bank will turn over instant messages and other communications to help further their case. Financial terms of the settlements weren't disclosed. "In addition to valuable monetary consideration to be paid into a settlement fund, the term sheet also provides for other valuable consideration such as provisions requiring Deutsche Bank's cooperation in pursuing claims against the remaining defendants," attorneys Daniel Brockett and Merrill Davidoff said in their letter Thursday in the gold-fixing lawsuit. ... The silver case is In re: London Silver Fixing Ltd. Antitrust Litigation, 1:14-md-02573. The gold case is In re: Commodity Exchange, Inc. Gold Futures and Options Trading Litigation, 14-md-2548, U.S. District Court, Southern District of New York (Manhattan). ... For the remainder of the report: http://www.bloomberg.com/news/articles/2016-04-13/deutsche-bank-settles-... ADVERTISEMENT Buy metals at GoldMoney and enjoy international storage GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit: http://www.goldmoney.com/?gmrefcode=gata 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| IF WE DON’T STOP THIS, WE’RE DEAD Posted: 14 Apr 2016 07:30 PM PDT by SGT, SGT Report.com: “This is the most dire and most immediate threat we face short of nuclear cataclysm, period.” says Dane Wigington from Geoengineering Watch.org. Dane and I last spoke one year ago and Dane says the biosphere collapse of planet earth has only gotten far, far worse. From the Great Barrier Reef to 165 degree temperatures in Iran and Iraq, the ability of earth to sustain life, is rapidly reaching the point of no return. If we don’t stop these malevolent Geoengineering and climate modification programs, we’re dead. Please Support Dane’s efforts to help save us all. Click HERE and donate generously. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| The IMF’s Special Drawing Rights, the RMB and gold Posted: 14 Apr 2016 07:29 PM PDT The IMF's Special Drawing Rights, the RMB and gold
The full article with additional charts and tables is published
On April 1, 2016, China's central bank Governor Zhou Xiaochuan announced that the Chinese government will take actions to promote the use of SDRs in its do-mestic economy. The announcement was made at the end of a meeting of the G20 in Paris, which is hosted by China this year. China will start to use both the USD and SDRs when reporting its foreign reserves. In addition, the country will also consider issuing bonds denominated in SDRs. This comes five month after the International Monetary Fund (IMF) decided to include the Chinese Renminbi as a fifth currency to the basket of Special Drawing Rights (SDR) along with the U.S. dollar, the Euro, the Japanese yen and the British pound. The change takes effect on October 1, 2016. This marks the first major change of the constituents of the basket since 1981 when the IMF dropped 11 out of 16 currencies in the orig-inal basket. However, when the SDR was introduced in 1969, it was not based on a basket of currencies but linked to gold, 0.888671 grams to be precise, which, at the time, equaled exactly 1 US dollar. The SDR basket based on the original weighting of 16 currencies declined around 87.7% in value vs gold until today. Similarly, the basket introduced in 1978 has lost 84.4%. The smaller 5 currency basket introduced in 1981 is down 55.5% and the current basket is down 77.0% since its intro-duction in 2001.
Taking interest payments into account hardly changes the outcome. It is obvious today that for net holders of SDRs, breaking the link to gold had a negative impact on their reserve value. This is hardly surprising as any currency has under-performed gold over the past 10 years and any timeframe beyond that. Hence, it's not that the currencies in the basket were Summary poorly chosen or poorly weighted, no combination would have managed to do better than gold, whether the RMB would have been part of the basket all along or not. While it is far too early to conclude that China is challenging the dollar's dominant reserve position, RMB inclusion in the SDR will nevertheless have a profound impact on percep-tions not only of China's growing economic power generally but monetary power specifically. But while the impact of the inclusion of the RMB should not be underestimated, it is unlikely that this will change the trend that gold outperforms any fiat currency. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Weirdest Possible Outcomes For The Strangest Election In U.S. History Posted: 14 Apr 2016 07:00 PM PDT Submitted by Brandon Smith via Alt-Market.com, If you are a longtime activist in the Liberty Movement then you are well aware that elections do not matter in terms of the future direction our nation takes. Presidents are puppets of international financiers, and so are most legislators. Whenever a president does attempt to go against the system, he either ends up shot by a “lone gunman,” or his office is disgraced by a conveniently-leaked scandal. Today, elections represent the illusion of choice; that is all. The leadership of both major parties seem different in terms of their rhetoric, but this is all cosmetic. Underneath the talk, Democrat and Republican leaders are nearly identical in their support for bigger government, more centralization, less constitutional protections, more globalism, more power to international banks and central banks, and less transparency and accountability. For many decades now, the choice has been between the puppet on the left hand or the puppet on the right hand. This year is proving to be a little different, at least on the face of things, to the point where elections are becoming rather surreal. For younger generations with limited experience participating in the world of U.S. elections, developments today might seem odd but not outlandish. For older generations of Americans a consensus seems to be forming and the concerns commonly expressed in the mainstream and on the web appear to match – 2016 is turning out to be the strangest presidential election they have ever seen. In my recent article “Will A Trump Presidency Really Change Anything For The Better?,” I examine Trump’s ambiguity as an individual and his lack of political history, and why this makes him a hard candidate to pin down. The fact is, Trump is enticing to the public for the most part because the public has no idea what he really stands for. We have no evidence that his rhetoric is false because he has no legislative history to contradict his claims. With candidates like Bernie Sanders, Hillary Clinton, and Ted Cruz, the public is well aware of where they really stand on the issues – Clinton is hardcore globalist establishment, Ted Cruz is the same though he pretends to be opposite, and Bernie, well, Bernie is a damn socialist and his only redeeming value is that he is at least honest about it. The public knows what they will get with the other candidates; they do not know what they will get with Trump. Thus, Trump enjoys an incredible level of popularity because many Americans would rather gamble on the unknown than stick with the status quo. The very presence of a candidate like Trump alone makes election 2016 extra weird, but this is only the beginning. Some might argue that any change in the atmosphere of our election process at this point can only be a good thing. I would argue that the fact that the establishment is allowing their long time control mechanism to evolve into an overwhelming reality television-style circus (rather than the stiff and boringly predictable farce we are used to) suggests that Americans are being deliberately distracted from dangerous geopolitical and economic developments. Look at it this way; we have Trump who is an attack-dog candidate who ends up in the news every other day for something he said and who attacks a Democratic opponent with which he has in the past maintained a longtime friendship. We have a fully exposed international criminal in the form of Clinton, who has been under investigation and should be prosecuted. We have a full-blown socialist named Bernie whose supporters make up a majority of the crazed social justice and cultural Marxist crowd. And we have Cruz, a “pro-constitution” anti-bank candidate with ties to those same banks and ties to an anti-sovereignty think tank (The Council on Foreign Relations). Some Republicans accuse Trump of being an agent for the Clinton camp. Some Democrats accuse Sanders of being an agent for the Republicans. Hillary barks like a dog at her own campaign events. Sanders supporters start fights at Trump rallies and then get their asses beat because cultural Marxists are abject weaklings. Cruz gets accused of repeated adultery while some idiot thinks that posting naked pictures of Trumps wife will actually hurt his campaign rather than help it. This whole situation feels like a soap opera gone terribly awry. How could one NOT be distracted? In the meantime, we have a global economy returning to extreme volatility after years of central bank manipulation which has failed to accomplish anything except make the rich and powerful more rich and powerful. We have potential geopolitical hot spots in Syria, Ukraine and the South China Sea which continue to present possible triggers for global conflict. We have internationally organized terrorist supervillains in the form of ISIS, the same Islamic extremists that Western covert intelligence agencies trained and funded to destabilize the Middle East now attacking multiple countries in the West. And, we have Eastern and Western banks working closely with the International Monetary Fund and the Bank for International Settlements while pretending to be at odds with each other. Any of the above factors could set catastrophes in motion that could change the world for a hundred years or more, and yet we are fed a steady diet of campaign mega-drama. As stated earlier, elections in the U.S. do not decide the future of our nation, but they do in many ways reflect the level of insanity that our collective society has reached, and, they also can reflect the direction in which the establishment hopes to send us. I believe it is very possible, considering the already erratic nature of the elections so far, that we might end up with unexpected developments and outcomes designed to further mesmerize the masses. Here are just a few of those potential events.
Some of the above theoretical scenarios might sound outlandish, but then again, if you traveled back in time a decade ago and tried to explain what the conditions of elections would be in 2016, I doubt anyone would believe you. I continue to hold to the premise that the elections have entered the world of the weird because America itself is on the edge of something that will shake its very core. What that event will be is hard to say because there are so many possibilities, but tensions of this caliber usually escalate to crisis before they deescalate, and tensions today are surely escalating. It is clear that we are in for a roller-coaster ride in the next year, so prepare accordingly, but also keep in mind that elections in themselves do not represent threats or solutions to threats. You and I, the awake and aware, are the solution to the threats facing this country. The elections only serve as a gauge for how close to the bottom of the abyss we actually are. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| A Potentially Cruel Earnings Season Kicks Off Posted: 14 Apr 2016 05:20 PM PDT from Dollar Collapse:
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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver Market Manipulation CONFIRMED By Deutsche Bank Legal Settlement, Agrees To Expose Other Banks Posted: 14 Apr 2016 04:42 PM PDT UPDATE: First Silver, Now Gold: Deutsche Bank Admits It Also Rigged Gold Prices As we have covered in detail and have already proved beyond a reasonable doubt, “the precious metals market has been rigged all along.” Now, let the class action lawsuits begin to recover damages for those of who have suffered at the hands of the criminal banking cartel’s blatant and seemingly endless price manipulation of silver and gold.~ SGT from Zero Hedge:
In a stunning victory for “conspiracy theorists” within the precious metals space, overnight Deutsche Bank not only agreed to settle a lawsuit accusing it of manipulating the silver fix, but also agreed to help the plaintiffs pursue similar claims against other banks as part of the settlement by providing instant messages and other communications. And so the former cartel members are turning on each other.
Back in July of 2014, we reported that in an attempt to obtain if not compensation, then at least confirmation of bank manipulation in the precious metals industry, a group of silver bullion banks including Deutsche Bank, Bank of Nova Scotia and HSBC (later UBS was also added to the defendants) were accused of manipulating prices in the multi-billion dollar market. The lawsuit, which was originally filed in a New York district court by veteran litigator J. Scott Nicholson, a resident of Washington DC, alleged that the banks, which oversee the century-old silver fix manipulated the physical and COMEX futures market since January 2007. The lawsuit subsequently received class-action status. It was the first case to target the silver fix. Many expected that this case would never go anywhere and that the defendant banks would stonewall indefinitely: after all their legal budgets were far greater than the plaintiffs. Which is why we were surprised to read overnight that not only has this lawsuit against precious metals manipulation not been swept away, but that the lead defendant, troulbed German bank Deutsche Bank agreed to settle the litigation over allegations it illegally conspired with Bank of Nova Scotia and HSBC Holdings Plc to fix silver prices at the expense of investors, Reuters reported citing a court filing by law firm Lowey. Terms were not disclosed, but the accord will include a monetary payment by the German bank. It goes without saying, that there would have been neither a settlement nor a payment if the banks had done nothing wrong. According to Reuters, Deutsche Bank has signed a binding settlement term sheet, and is negotiating a formal settlement agreement to be submitted for approval by U.S. District Judge Valerie Caproni, who oversees the litigation. A Deutsche Bank spokeswoman declined to comment. Lawyers for the investors did not immediately respond to requests for comment. As noted above, investors had accused Deutsche Bank, HSBC and ScotiaBank of abusing their power as three of the world’s largest silver bullion banks to dictate the price of silver through a secret, once-a-day meeting known as the Silver Fix. None of this will come as a big surprise to readers, most of whom have been aware that this took place for years. But wait there’s more. In a curious twist, the settlement letter reveals a stunning development, namely that the former members of the manipulation cartel have turned on each other. To wit:
The full shocking letter can be read here:
Since this is just one of many lawsuits filed over the past two years in Manhattan federal court in which investors accused banks of conspiring to rig rates or prices in financial and commodities markets, we expect that now that DB has “turned” that much more curious information about precious metals rigging will emerge, and will confirm what the “bugs” had said all along: that the precious metals market has been rigged all along. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deutsche Bank Confirms Silver Market Manipulation In Legal Settlement, Agrees To Expose Other Banks Posted: 14 Apr 2016 03:51 PM PDT
Back in July of 2014, we reported that in an attempt to obtain if not compensation, then at least confirmation of bank manipulation in the precious metals industry, a group of silver bullion banks including Deutsche Bank, Bank of Nova Scotia and HSBC (later UBS was also added to the defendants) were accused of manipulating prices in the multi-billion dollar market. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Banks Are Now Paying People to Take Out Mortgages Posted: 14 Apr 2016 01:53 PM PDT This post Banks Are Now Paying People to Take Out Mortgages appeared first on Daily Reckoning. GUALFIN, Argentina – Tuesday evening, we went to the main opera house in Buenos Aires, the Teatro Colón, to see Mozart's Don Giovanni. On our way over, our taxi driver told us that Luciano Pavarotti rated it as the second best opera house in the world (after La Scala in Milan). Your editor's wife has a tendency to try to improve him culturally by insisting that they go to museums, ballets, concerts, plays, or operas together. Your editor goes along with good grace but has a tendency to fall asleep. But the story (better known as Don Juan)… the theatre… and Mozart's music were all so magnificent that our eyes and ears remained wide open. Curiouser and Curiouser!Don Giovanni is a wicked cad. He seduces hundreds of women all over Europe. And two women succumb to his charms, on stage. Two couples are put to the test as Don Giovanni leads the women astray. But somehow (it was not clear to us exactly how or why), the infidelity is forgiven… and Don Giovanni is struck down. We found the ending weak and unconvincing, but we're not going to argue with Mozart. At least, not today. Yesterday, we rose before dawn to take a flight from Buenos Aires to Salta, a city in the northwest. Now, we are at the family ranch… a roughly four-hour drive away. The farm will occupy much of our attention over the next three weeks. But this morning, we are still trying to make sense of the world we left behind. That world just gets, as Alice remarked of Wonderland, curiouser and curiouser. Last week came news that the World Bank was lending more than ever before… that Japan had decided to go even fuller retard with even more negative interest rates… and that the International Monetary Fund, the mother hen of central banking, was urging her little chicks further into the fox's den. Reports newswire service Reuters:
Loony LendingWe don't now know where Mr. Vinals got his facts… but they don't stack up. As colleague Chris Lowe reported in Market Insight last week, since the Bank of Japan first announced negative rates, on January 29, the yen has strengthened, not weakened. Since then, the yen has gained 11% against the dollar… making it the second-best performing major currency (behind the Brazilian real). And Japanese stocks, as measured by the Nikkei, are lower, not higher. Since January 29, the Nikkei has plummeted 3.5%. That compares with a gain of 7% for the MSCI World Index (a good proxy for world stocks). But the looniest of all the news last week came from Europe. Two Belgian banks are paying people to take out mortgages. As Belgian newspaper Het Nieuwsblad reports (with a little help from Google Translate):
Although the news was not completely unexpected, it is nevertheless shocking. It is as though some invisible barrier had been crossed, separating the real world from the world of total make-believe… where down is up, yes is no, and every shiftless crackpot can now… apparently… live in a mansion for free. On the Nutty ScaleA few months ago, we tried to understand negative mortgage rates as a hypothetical matter. We thought they were so loony, so daffy, that they couldn't exist in the real world. But now… there they are… not exactly in the real world – but in Belgium! "How crazy is that?" is an expression of surprise and wonder. But there should be some metric… a quantitative measure (1 to 10 perhaps)… that allows us to figure out how just how nutty a given thing is. If there were such a scale, where would negative mortgage rates fall? At about 11 is our guess. The world of finance is always a fantastic world. People can believe whatever they want. Should hot electric car maker Tesla sell at a negative P/E ratio – MINUS 917? Sure, why not? Should 10-year bonds issued by a bankrupt government run by madmen yield less than zero? Who knows? When banks lend money to the government, the whole transaction is largely imaginary anyway. The money comes from nowhere. It is worth nothing. Why shouldn't it be lent out for less than nothing? The world of houses is different. It is real. Bricks and mortar. People live in houses. They cost money and time to build. They are actually… positively… no doubt about it… worth something. But if you can get a negative-rate mortgage, the world turns upside down. It is as though the house had less than no value. You borrow $1 million at MINUS 1%. You buy a house. The bank pays you $10,000 a year to live in it! How crazy is that? 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 Banks Are Now Paying People to Take Out Mortgages appeared first on Daily Reckoning. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 14 Apr 2016 12:23 PM PDT SafeHaven | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leo Zagami : All Eyes on Rome for the Trilateral Commission Meeting Posted: 14 Apr 2016 12:00 PM PDT Leo Zagami talks about current events in Rome that involve the presidential elections. 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! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Harry Dent - The Rally is Over, Crash to 6,000 Dow by 2017 Posted: 14 Apr 2016 09:30 AM PDT The Rally is Over, Crash to 6,000 Dow by 2017 - Harry Dent Interview Mar 28 TOPICS IN THIS INTERVIEW: 01:05 Harry's Last Predictions Correction 01:45 Oil Price for 2016: $10 to $60 for Next Decade 04:15 Evertying in Bubble including Gold 04:50 China's Economic Deception 05:20 Biggest Global... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Alasdair Macleod: The ECB and shadow banking Posted: 14 Apr 2016 09:08 AM PDT By Alasdair Macleod Markets have fully adjusted to a financial world which reflects the leadership and management of money by central banks, and are increasingly frightened of any prospect of their control failing. Every time the system stumbles, the response has been for central banks to force greater control and regulation upon the monetary system to the detriment of free markets. It is the financial version of the Road to Serfdom. Central banks have become ill-equipped to allow markets to price risk, and in the case of the European Central Bank, it is downright hostile to market-determined prices. ... ... For the remainder of the commentary: https://www.goldmoney.com/research/goldmoney-insights/the-ecb-and-shadow... ADVERTISEMENT Buy precious metals free of value-added tax throughout Europe Europe Silver Bullion is a fast-growing dealer sourcing its products from renowned mints, refiners, and distributors. Because of a legal loophole that will close soon, you can acquire the world's most popular bullion coins free of value-added tax throughout the European Union. You can collect your order in person at our headquarters in Tallinn, Estonia, or have it delivered in any of the 28 EU countries. Europe Silver Bullion is owned and operated by North American and European experts in selling, storing, and transporting precious metals. We have an extensive product inventory of silver, gold, platinum, and palladium, and our network spans the world. Visit us at www.europesilverbullion.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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| John Hathaway: Stage is set for gold's advance to all-time highs Posted: 14 Apr 2016 08:57 AM PDT 11:53p SGT Thursday, April 14, 2016 Dear Friend of GATA and Gold: Tocqueville Gold Fund manager John Hathaway's quarterly letter to shareholders argues that "the stage is set for a renewed advance toward all-time highs" for gold. His reasons: "1. The war on savings and capital being conducted by central banks seems likely to drive investors toward alternative safe assets. We believe that prominent among the available options is gold. "2. At the zero interest-rate boundary, bonds are no longer capable of providing a stability hedge for equity portfolios; investors may look to gold to fill that vacuum. "3. A deepening shortage of physical gold means that even modest capital inflows into precious metals should drive an outsized price response." Hathaway's letter is posted at the Tocqueville Internet site here: http://tocqueville.com/insights/gold-strategy-investor-letter-1Q16 CHRIS POWELL, Secretary/Treasurer 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver Manipulation Cultists Cheer “Proof†Posted: 14 Apr 2016 08:56 AM PDT Ah yes, the silver manipulation crowd is ecstatic this AM as they gleefully point to news that Deutsche Bank has agreed to settle in a class action lawsuit which claimed that it, along with several other large banks, had been rigging the silver price at the London Silver Fix. The claim by the silver cultists is that the bank would not have agreed to settle if they had done nothing wrong. Hello? Ever heard of companies settling nuisance lawsuits to make them go away? Nowadays it is called the “cost of doing business”. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| John Mcafee -- Caravan To Midnight Show 4.7.2016 Posted: 14 Apr 2016 08:30 AM PDT This incredible interview lasts over an hour, but may be the best hour you spend this year! A wide range of topics are discussed throughout, and the show concludes with the knighting of Sir John McAfee by the host. The Financial Armageddon Economic Collapse Blog tracks trends and... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fed’s Beige Book Gets Dollar Bugs Excited Posted: 14 Apr 2016 07:54 AM PDT This post Fed’s Beige Book Gets Dollar Bugs Excited appeared first on Daily Reckoning. And now… today's Pfennig for your thoughts… Good day, and a tub Thumpin’ Thursday to you! Well, in the final days of a star, it burns the brightest, and so it is with the dollar, folks. One would have thought the awful print in March Retail Sales would have been a reason to sell dollars, but the markets decided that the upbeat sounding Beige Book was more important than Retail Sales and so they went with the Beige Book, and bought more dollars. It makes no sense to me, folks. For when, in the past, as the Beige Book even been mentioned as a reason to buy or sell dollars? It’s as if the markets were reaching for straws, and that’s an indication to me that the dollar’s strong trend is getting long in the tooth. On Monday, the euro was pushing through the 1.14 handle, this morning it is barely holding on to the 1.12 handle. Now, I get the fact that the European Central Bank (ECB) is meeting as I write this morning, and that they could announce some very damaging changes to their monetary policy that would hurt the euro. But wouldn’t it behoove traders to wait to see those changes first? Of course it would! I told you earlier in the week that I didn’t think the ECB would make any changes at this meeting, and I’m holding on to that opinion. Which just means that if traders sold euros going into the meeting thinking that things would change, they’ll just have to turn around and buy them back, so we could see a swing here today. Of course there’s always the chance that ECB President, Mario Draghi, throws the euro under the bus again. I just think that the ECB has really upped the ante on Monetary Policy, and it would behoove them to sit back and see if all the medicine they’ve applied to the aggregate economy of the Eurozone helps. They should take a page from the Reserve Bank of Australia (RBA) who, when everyone thought they would cut rates in December, decided to wait, and take a look at what their previous rate cuts had done, and they are glad they did that, because the signs of a rebalancing of the Australian economy are showing up more and more, and muted steady growth should be the call to order in Australia going forward. I explain all that rebalancing stuff in the Currency of the Month piece that will print this Sunday, I believe. The Bank of England (BOE) is also meeting while I write this morning. I don’t expect any changes here either. The BOE is really in a difficult place with all the debt they have, and slowing economy, and little inflation if any. And then there’s the BREXIT talk, and polls that continue to show the “leave the EU” vote ahead, of the “no don’t leave” vote. I would just simply steer clear of this area until after we see the color of the BREXT referendum that will come at the end of June. The Bank of Canada (BOC) did just what I thought they would do yesterday, which was nothing! Well, technically that’s not correct, for they did do something. They just didn’t do anything with monetary policy, instead, choosing to revise their growth forecast for 2016! And the BOC chose to revise their growth forecast for 2016 upward! And the Canadian dollar/loonie got bought, but in the overnight markets the loonie is getting sold, along with every other currency, not the Aussie dollar (A$), which is the only currency with a gain vs. the U.S. dollar this morning. Going a little deeper with the loonie here this morning. BOC Gov. Stephen Poloz, wasn’t kind to the loonie after the meeting, basically telling the markets not push their luck buying the loonie. In other words, he doesn’t want traders buying the loonie, and pushing the value higher. He doesn’t want to see any further appreciation of the loonie. Sounds like a challenge to me, and now we have to see if the traders acquiesce or take him on. Quick Quiz: what currency from a developed country has been the world’s best performer since the middle of January with a 10% gain? You guessed it I’m sure, it’s the loonie. There is something that could get affected immediately though and that is the U.S. dollar. I’ve read more than one report recently that talks about how the renminbi gold fixing, is in essence backing the renminbi/yuan with gold. And now, according to several news stories I’ve read, but still not sure if they are to be trusted, this new renminbi/yuan that’s backed by gold, allegedly, is NOT going to be convertible into dollars. Okay… I don’t have any confirmation of this, but if it’s all on the up and up, it could spell real trouble for the dollar. Could be like the song from the Cornelius Brothers and Sister Rose. It’s too late, to turn back now. Gold sure got whacked yesterday, as once again, gold’s attempt to remain above $1,250 didn’t have the power that the short paper trades did. Gold lost $13 ($13.30) yesterday, and is down another $2 this morning. In other news regarding gold… We finally know the date the Chinese renminbi gold fixing will start. April 19, just next week! I read yesterday that the gold fixing will begin with 18 member banks. Now, calm down, remember, I told you that this is not going to change anything with the way things get done in the West with the gold fixing, right out of the starters blocks, but eventually, this is going to be a real threat, to the gold fixing in the west (London and New York) as paper trades are not welcome here. Well, all the glowing talk about Singapore had to be thrown in the closet and the door shut quickly, as the Monetary Authority of Singapore (MAS) surprised the markets, and me, by lowering the slope of the trading band that the Singapore dollar (S$) trades in to 0%. In English, that means that the MAS is not targeting any currency appreciation for the S$ going forward. This move by the MAS is akin to a rate cut folks. And the S$ is getting whacked, as it should, given this surprising move by the MAS. The March Aussie Employment Report printed stronger than expected, which surprised me, pleasantly I might add! And the report is feeding the rally of the A$ this morning. For those of your keeping score at home, the March jobs count was 26,100, vs. 17,000 expected, and the Unemployment Rate fell from 5.9 to 5.7%. Recall that I had thought that we might see a pull-back of the hefty jobs gains that Australia has been booking, but there was no pull-back, it’s full-on for Australian jobs. A strong result like this should go a long way toward keeping the RBA on the interest rate cut sideline. And that should be like manna from heaven for the A$. So, the Fed’s Beige Book had some things in it that really got the dollar bugs all lathered up yesterday afternoon. Most Fed districts reported that economic growth was “moderate to modest”. Now that doesn’t sound very upbeat to me, so let’s look further into the Beige Book. Oh, there it is, this is what we’re looking for! The previous Beige Book had painted a picture of an economy with “flat prices” and no wage growth. But this report said that “overall, prices increased across the majority of districts, along with wages.” And that got the markets thinking that a Fed rate hike was going to get back on the table of discussion. I say hogwash! These are probably the same Fed Governors that saw “green shoots” and the same ones that didn’t see a housing meltdown on the horizon. I wouldn’t back them in a bet you can be sure of that! I don’t mean to be harsh or anything like that, but come on, the track record is what it is. And the markets are to blame, they swallow this stuff, hook, line and sinker every time. Every time, I said, every time. Smokey Bill Robinson says, “I’m just about at the end of my rope, but I can’t give up hope”. And that describes me to a “T”. In more ways than one! But for this discussion, I’m talking about the markets and the Fed – when will the markets get tired of being disappointed? So, the U.S. Data Cupboard yesterday, had the March Retail Sales for us to see, and see what we did. Ha! That reminds me of a saying we used to have as kids, when someone would say, “Let me see that”, we would respond, “No sea to it, all dry land”. HA! OK, can you tell I’m trying to paint this picture a little brighter than it actually was yesterday? I know, that’s not me, I usually do my best Aaron Neville and Tell it like it is. But the March Retail Sales data was bad. Really bad folks. March Retail Sales fell -0..3%, when it was expected to rise 0.1%. So, how can the Fed districts be seeing rising prices, when Retail Sales are negative? See, what I’m talking about with these Beige Book “opinions”? In addition yesterday, March PPI (wholesale inflation) fell -0.1%, when it was expected to rise 0.2%. So, let me get this straight now. The Fed districts say they saw prices rising, but Retail Sales were negative, thus not putting any price pressures on things, and Wholesale prices dropped. Somebody please help me to understand how the Fed districts could see rising prices? Today’s Data Cupboard has the stupid CPI for March and the usual Weekly Initial Jobless Claims, which really don’t mean anything any longer, since the BLS has completely taken control of “adjusting” the jobs reports each month. Well, I talked a lot about gold above, so let’s talk about silver today. So, did you all see that news that came across on Reuters yesterday that Deutsche Bank AG has agreed to settle U.S. litigation over it illegally conspired with the Bank of Nova Scotia, and HSBC Holdings Plc to fix silver prices at the expense of investors? Well, that’s according to a court filing! Now, I have to stop here, and say to all those naysayers that don’t believe in price manipulation in Silver. Neener, neener, neener! Seriously though, this has got to be just the first step to tearing down the wall of price manipulation. Mr. Gorbachev tear down that wall! If all three of these banks all agree to settle, and apparently they have, then I don’t see why they’d settle unless they are acknowledging that they fixed silver prices in their favor. Well, that’s just the first step folks. Oh, and for Bart Chilton the CFTC commissioner who repeatedly reported that there was nothing strange going on in silver pricing. Well, when I saw this in the local St. Louis paper yesterday, my jaw dropped. It’s national news, right out of my hometown, St. Louis. and It’s not good news either. This has got to be a first for me, giving you a link to the St. Louis Post Dispatch, but here you go, the entire story is here, and here is the snippet:
Chuck again. Peabody has been one of the more prominent corporate names in St. Louis, with its headquarters in the city of St. Louis. I think this is a sign folks, when Midwestern corporations find their debt load is too heavy of a burden, that things are about to go haywire all over. That’s it for today. Have a tub Thumpin’ Thursday, today, while being 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 Fed’s Beige Book Gets Dollar Bugs Excited appeared first on Daily Reckoning. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Could Explode Higher as Precious Metals Become Shariah Compliant Posted: 14 Apr 2016 07:53 AM PDT You won’t find any mainstream articles on the Jubilee Year’s secret timeline for financial ruin. Hell, you won’t even find alternative media articles on it – except here at TDV. But that doesn’t mean people aren’t aware of what’s going on. In this case, the top money men in the Middle East are racing to get gold approved as a Shariah compliant asset. You can bet the smart Middle Eastern money is getting ready to hit the yellow metal hard. The demand may contribute to the gold market’s already significant buoyancy this year – as Middle Eastern buyers jump into considerable tonnage as soon as possible. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deutsche Bank Concedes a Settlement For Widespread Rigging of the Price of Silver (And Gold) Posted: 14 Apr 2016 07:00 AM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| It’s Cheaper than Gold – With Way More Upside… Posted: 14 Apr 2016 06:52 AM PDT This post It’s Cheaper than Gold – With Way More Upside… appeared first on Daily Reckoning. The major averages just posted their biggest one-day gain since March. The S&P 500's stellar two-day performance now has the big board up nearly 2% on the year. Who would have seen that one coming back in February? Not us, that's for sure. Luckily we follow the charts and not our guts—so we've had plenty of chances to book substantial gains since the market's February lows. And now the bulls are backing up the truck again. The market's safe haven names such as utilities and consumer staples sagged yesterday. But traders happily gobbled up shares of everything from financials to GoPro. Yes, our old punching bag GoPro soared 20% after hiring away an Apple designer. Maybe America is great again after all… But an even bigger trend was brewing as investors embarked on a different kind of buying spree. And while the gains we're seeing in the major averages are a welcome sight after our winter of discontent, you stand to make a lot more cash following this emerging trend. I'm talking about metals… Steel. Copper. Aluminum. We've played 'em all this year. And right now you can expect a major thrust higher for yet another shot at double-digit gains. See, it's not just American markets that are rising right now. Chinese stocks are screaming higher thanks to some unexpected bullish data out of Asia. Most folks had already written China off—and sold out of their metals and materials stocks to avoid any blowback from a Chinese economic meltdown. But now that China's back from the dead, these stocks are streaking higher… "Steel stocks got a big boost in March from a jump in the price of iron ore (which is used to make steel)," John Murphy explains on his Stockcharts.com blog. "They’re getting another big boost today on another jump in the price of iron ore in China and stronger economic data from that country." I know it's difficult to wrap your mind around a commodities trade when you're bombarded by constant shrieks about the possibility of global recession. But for our trades, this type of analysis is useless. Certain commodities are flashing strong buy signals right now. You can debate why they are. But you can't deny what we're seeing in the markets right now…
We've seen huge bottom-bounces from copper and aluminum stocks this year. Now it's steel's turn. This is the type of environment where we tend to see the most explosive breakouts. No one wanted anything to do with commodities a few short weeks ago. And when these stocks started rallying earlier this year, nobody believed the moves would stick. That's the perfect recipe for a hot trade. This week's breakout could set the course for yet another eye-popping move… Sincerely, Greg Guenthner P.S. Continue to stay ahead of the metals market—sign up for my Rude Awakening e-letter, for FREE, right here. Stop missing out. Click here now to sign up for FREE. The post It’s Cheaper than Gold – With Way More Upside… appeared first on Daily Reckoning. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Chris Powell: Cowardice of press, miners, financial industry sustains gold market rigging Posted: 14 Apr 2016 03:09 AM PDT Remarks by Chris Powell, Secretary/Treasurer I'm here again this year to update you on the surreptitious manipulation of the gold market by central banks and to explain how this surreptitious manipulation now extends to all major markets around the world. This is remarkable not in fact but only in degree. For central banks long have rigged the gold market, usually suppressing gold prices to protect their own currencies and government bonds against a potentially competitive world reserve currency. Central banks used to do this market rigging in the open, through mechanisms like the London Gold Pool in the 1960s, but they lost too much of their gold reserves that way. Now they do their market rigging surreptitiously using derivatives and high-frequency trading, activities underwritten by the leasing and swapping of gold by central banks. In this way central banks have created a vast, imaginary supply of the monetary metal, a supply of "paper gold" for price suppression. ... Dispatch continues below ... 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. Confirmations of the long-standing policy of gold price suppression by central banks abound in government archives and in the admissions made by central bankers in their communications with each other when they think that no one outside their own circle is paying attention. The most stunning recent example of these admissions is the interview Kitco News did last October with the executive director of the central bank of Austria, Peter Mooslechner, on the sidelines of the London Bullion Market Association conference in Vienna. Asked what he considers the role of central bank gold reserves, Mooslechner volunteered that larger Asian central banks that are acquiring gold are simultaneously "trading in the market and intervening in the market." Let's watch: https://www.dropbox.com/s/rtgdc8dkhvabtz2/kitco.mp4?dl=0 Mooslechner's implication was that the trading and intervention being done by these Asian central banks in the gold market are meant to suppress the price of gold while they are acquiring it. This implication is consistent with the growing speculation that the United States and China are working together to facilitate China's acquisition of gold so China can protect itself against devaluation of the huge amount of U.S. Treasury debt in China's foreign exchange reserves. When a German financial journalist, Lars Schall, attempted to question Mooslechner about his remarks to Kitco News last October, the Austrian central bank refused to make Mooslechner available. The Austrian central bank told Schall that it did not comment on the trading done by other central banks. But of course Mooslechner had commented on that trading, and he had gotten caught when his comments were noticed outside central banking and bullion banking circles. The really interesting thing about Mooslechner's interview with Kitco News was that he showed that the Austrian central bank knows exactly what China's central bank is doing in the gold market. That is, Mooslechner's comment suggested that all major central banks are cooperating in a reallocation of world gold reserves and cooperating in the market rigging necessary to arrange it. Market rigging by central banks goes far beyond the gold market. Of course it is already acknowledged that this market rigging encompasses the government bond market and -- in certain countries, like Japan -- even the stock market. But in fact this rigging is now comprehensive, covering all the major commodity markets as well, as I will demonstrate in a moment. What does all this market rigging mean? It means that there really are no markets anymore, just interventions. It means that the fundamentals of supply and demand no longer have much bearing on the price of the products of the industries represented at this conference, the mining and financial services industries. Nor do the fundamentals of supply and demand have much bearing any longer on the price of any other major commodity traded widely around the world. And since markets are the great engines of progress, prosperity, and liberty, it means that progress, prosperity, and liberty are now terribly impaired. But while central banks are powerful, they are not all-powerful. Their market rigging succeeds only because it operates in secret. Their market rigging would fail if it was exposed and understood, as too many people would refuse to participate in rigged markets. This market rigging has not been fully exposed and understood for two reasons. The first is the failure of mainstream financial news organizations to examine and report it. The second is the failure of the mining and financial services industries to examine it and complain about it. GATA is trying to shake financial news organizations and the mining and financial services industries out of their ignorance, indifference, and cowardice. As time allows today I will present the images of some of the major documents GATA has compiled about gold price suppression and commodity market rigging by central banks. I can only summarize these documents for you and urge you to examine them yourselves. These documents are posted at GATA's Internet site, GATA.org, and will be posted again along with my remarks today. But if you need help locating any document or have any questions, please e-mail me at CPowell@GATA.org. And so to the documents. 1) In July 1998 U.S. Federal Reserve Chairman Alan Greenspan testified to Congress that the true purpose of gold leasing by central banks was to keep the gold price down: http://www.federalreserve.gov/boarddocs/testimony/1998/19980724.htm 2) The U.S. Treasury Department's Exchange Stabilization Fund is fully authorized by U.S. law to trade secretly in and rig any market in the world: https://www.treasury.gov/resource-center/international/ESF/Pages/esf-ind... 3) The transcript of a meeting of U.S. Secretary of State Henry Kissinger and Assistant Undersecretary Thomas Enders at the U.S. State Department in April 1974 reveals that the United States sees gold as the great "reserve-creating instrument" of governments and central banks; that whoever has the most gold can revalue it periodically to create more world-reserve currency; that Western Europe has surpassed the United States in gold reserves and thus is in a position to control the gold price and create more monetary reserves; and that, as a result, United States policy must be to push gold out of the world financial system to protect the U.S. dollar's standing as the world reserve currency: http://www.gata.org/node/13310 Assistant Undersecretary Enders tells Secretary Kissinger: "It's a question of who has the most leverage internationally. If they" – that is, Western European nations – "have the reserve-creating instrument, by having the largest amount of gold and the ability to change its price periodically, they have a position relative to ours of considerable power. For a long time we had a position relative to theirs of considerable power because we could change gold almost at will. This is no longer possible -- no longer acceptable. Therefore, we have gone to Special Drawing Rights, which is also equitable and could take account of some of the less-developed-country interests and which spreads the power away from Europe. And it's more rational in. ..." Secretary Kissinger interrupts Enders: "'More rational' being defined as being more in our interests or what?" Assistant Undersecretary Enders replies: "More rational in the sense of more responsive to worldwide needs -- but also more in our interest. ..." So there you have it. Whoever has the most gold can control its valuation -- and implicitly the valuation of every currency -- and thereby create the most "reserves," the most money, money being power, of course. The interest of the United States, as it was articulated privately at that meeting at the State Department in April 1974, was to dominate the world through the power of money creation by pushing gold out of the monetary system and keeping the world dependent on the dollar. 4) The Bank for International Settlements is the central bank of the central banks. In a speech given at a BIS conference in Basle, Switzerland, in June 2005, the head of the BIS monetary and economic department, William R. White, declared that a primary purpose of central bank cooperation is "the provision of international credits and joint efforts to influence asset prices -- especially gold and foreign exchange -- in circumstances where this might be thought useful": 5) Its annual reports disclose that the Bank for International Settlements is the gold broker for its member central banks, trading, on their behalf, not only gold itself but also gold futures, options, and derivatives: http://www.gata.org/node/12717 6) A 24-page PowerPoint presentation prepared by the Bank for International Settlements in June 2008 for potential BIS members actually advertised secret interventions in the gold market as being among BIS services: http://www.gata.org/node/11012 7) A secret report by its staff to the board of directors of the International Monetary Fund in March 1999 reported that central banks conceal their gold swaps and leases to facilitate their secret interventions in the gold and currency markets: http://www.gata.org/node/12016 8) A letter written by Federal Reserve Board of Governors member Kevin M. Warsh to GATA's lawyer in September 2009 confirmed that the Fed has secret gold swap arrangements with foreign banks and refuses to disclose and explain them: 9) But Warsh was a little more forthcoming in an essay he wrote for The Wall Street Journal in December 2011. In that essay Warsh wrote: "Policy makers are finding it tempting to pursue 'financial repression' -- suppressing market prices that they don't like": http://www.gata.org/node/10839 After his essay was published I wrote to Warsh to ask him to specify the prices that "policy makers" were suppressing and whether he had learned about "financial repression" during his service on the Board of Governors of the Federal Reserve System. Warsh cordially urged me to have a nice day. 10) Speaking to the conference of the London Bullion Market Association in Rome in September 2013, the director of market operations for the Banque de France, Alexandre Gautier, said the Banque de France is trading gold for its own account and for the accounts of other central banks "nearly on a daily basis": http://www.gata.org/node/13373 In January 2015 a gold dealer in Europe, Fabrice Drouin Ristori of Goldbroker.com, wrote to Gautier to ask for an explanation of the Banque de France's gold trading. Gautier replied: "The Banque de France does not make public the management of its foreign exchange reserves. Furthermore, we very seldom give interviews." Why do you suppose that is? 11) CME Group operates the major futures markets in the United States. Its January 2014 filing with the U.S. Securities and Exchange Commission disclosed that central banks and governments are being given volume trading discounts for secretly trading all futures contracts on the major exchanges in the United States, not just financial futures contracts: http://www.gata.org/node/14385 12) CME Group's master "10-k" filing with the U.S. Securities and Exchange Commission for 2013 disclosed that CME Group's customers include governments and central banks: http://www.gata.org/node/14411 13) In 2011 the Wikileaks organization disclosed thousands of U.S. State Department cables. Among them were cables from the U.S. embassy in Beijing to the State Department in Washington translating reports published in the government-controlled press in China in 2009 about gold price suppression engineered by the United States and its allies. The Chinese reports said gold price suppression was meant to support the dollar and prevent gold's re-emergence as the world reserve currency: http://www.gata.org/node/10380 http://www.gata.org/node/10416 For example, the Chinese newspaper World News Journal wrote: "The United States and Europe have always suppressed the rising price of gold. They intend to weaken gold's function as an international reserve currency. They don't want to see other countries turning to gold reserves instead of the U.S. dollar or the euro. Therefore, suppressing the price of gold is very beneficial for the United States in maintaining the U.S. dollar's role as the international reserve currency. China's increased gold reserves will thus act as a model and lead other countries toward reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the renminbi." 14) In April 2013 the Chinese journal Global Finance published a commentary by its deputy editor, Zhang Jie, titled "Gold Leasing Is a Tool for the Global Credit Game": http://www.gata.org/node/13314 Zhang wrote: "If one wants to control gold, it is a necessity to have the ability to short-sell the same. A central bank that directly suppresses gold would be suspected as a market manipulator. However, gold leasing by the central bank can take place unnoticed. During a financial crisis gold would have more monetary power as well as greater trust. Countries need to control the trust in their national currencies and thus suppress the actual market price of gold, which will affect exchange rates. Each country carries out its attack on the price of gold according to the method of its own national currency." * * * There are so many more official records and admissions of gold price suppression by central banks in GATA's archive: http://www.gata.org/taxonomy/term/21 Please don't take my word for any of this. Please examine the documents and the admissions yourselves. Then please ask yourselves whether the mining and the financial services industries can have any integrity when the main purpose of central banking is to destroy free markets and deceive investors. Please also ask yourselves whether the disparagement of complaints about gold market manipulation as "conspiracy theory" is fair. Ask whether central banks are in the gold market surreptitiously or not. If they are in the gold market, ask whether it's just for fun or if there are important policy purposes behind it. But if central banks are in the gold market surreptitiously, what's wrong with calling it "conspiracy"? For central banks and other government officials often meet secretly to decide upon and implement a course of action -- the very definition of "conspiracy." In that case it is not "conspiracy theory" but "conspiracy fact." Thanks for your kind attention. 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ronan Manly: Deutsche Bank will give evidence against other banks in silver rigging Posted: 14 Apr 2016 02:15 AM PDT 5:13p SGT Thursday, April 14, 2016 Dear Friend of GATA and Gold: Elaborating on the draft settlement agreement between Deutsche Bank and the plaintiffs in the U.S. class-action lawsuit charging silver market manipulation, monetary metals researcher Ronan Manly reports that the bank has not only agreed to pay damages but also to provide the plaintiffs with evidence against the other bank defendants in the lawsuit, HSBC and Bank of Nova Scotia. Manly writes: "Coming on the heels of the unresolved and unexplained fiasco that is the LBMA silver price auction and the broken promises by the London Bullion Market Association about greater auction transparency and wider participation in the new silver auction, it seems difficult to envisage that the LBMA silver price can survive in its current form with its current participants, two of whose remaining five participants are HSBC and Scotia. It will also be interesting to see what the U.K. Financial Conduct Authority will say about this development with Deutsche Bank, especially since HSBC and Scotia are now participating in a 'regulated benchmark,' the LBMA silver price, where price manipulation can be criminally prosecuted." Manly's analysis is headlined "Deutsche Bank Agrees to Settle with Plaintiffs in London Silver Fixing Litigation" and it's posted at Bullion Star here: https://www.bullionstar.com/blogs/ronan-manly/deutsche-bank-agrees-settl... CHRIS POWELL, Secretary/Treasurer 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deutsche Bank to settle U.S. silver price-fixing litigation Posted: 14 Apr 2016 02:00 AM PDT By Jonathan Stempel NEW YORK -- Deutsche Bank AG has agreed to settle U.S. litigation over allegations it illegally conspired with Bank of Nova Scotia and HSBC Holdings to fix silver prices at the expense of investors, a court filing on Wednesday showed. Terms were not disclosed but the accord will include a monetary payment by the German bank, a letter filed in Manhattan federal court by lawyers for the investors said. Deutsche Bank has signed a binding settlement term sheet and is negotiating a formal settlement agreement to be submitted for approval by U.S. District Judge Valerie Caproni, who oversees the litigation. ... ... For the remainder of the report: http://www.reuters.com/article/us-deutschebank-settlement-silver-idUSKCN... 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. 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Canadian Shield Could Host the Next Bonanza Discovery: Eric Lemieux Posted: 14 Apr 2016 01:00 AM PDT Gold supply is getting tighter, deposits of quality are getting rarer and the project development timeline is getting longer. Enter Canada. The Canadian Shield still offers the possibility of break-out discoveries, says PearTree Securities analyst Eric Lemieux. The recent spate of M&A activity points to the potential of the region, and Lemieux discusses several companies that are well positioned to add value. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deutsche Bank Silver Settlement: GATA Vindicated Posted: 14 Apr 2016 01:00 AM PDT Precious metals expert Michael Ballanger riffs on the news that Deutsche Bank is settling U.S. silver pricing litigation. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bringing Everyone into The banking System so They can Establish a One-World Bank and Taxation System Posted: 13 Apr 2016 09:11 AM PDT FRA Co-founder Gordon T. Long is joined by Jeff Berwick in discussing the article Central banks beat Bitcoin at own game with rival supercurrency, the central banking system, and blockchain technology. Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast. Jeff is a prominent speaker at many of the world's freedom, investment and gold conferences including his own,Anarchapulco, as well as regularly in the media including CNBC, Bloomberg and Fox Business. |
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