Gold World News Flash |
- “They Are Scared To Death” – CEO Explains The Single Biggest Reason Why People Are Buying Precious Metals
- Hedge Funds Buy Silver as Silver Bullion Deficit Surges
- Central Bankers Continually Suppressing Gold Before The Economy Collapses
- Gold/Silver Imminent Skyrocket with Default Coming on National Debt – Andy Hoffman
- Gold, Silver, Mining Shares: Big Drop Dead Ahead!
- Gold Speculation at All-Time High, but Gold Price Remains Below 2015 High
- It’s A Small Club… All Roads Will Lead To Gold.
- WEST TO EAST…. China Taking Delivery of Barclays Gold/Silver Vaults (& Contents?)
- Judge Jeanine Goes Nuclear On Hillary: "The American People Have To Stop Her"
- "Markets Have No Purpose Any More" Mark Spitznagel Warns "Biggest Collapse In History" Is Inevitable
- Gold Price Closed at $1273.40 up $1.50 or 0.12%
- "They Are Scared To Death" - CEO Explains The Single Biggest Reason Why People Are Buying Precious Metals
- Soros puts $264 million in Barrick Gold, buys calls on gold ETF
- Bullion Star makes a graphic of the Comex gold market
- Sins Of The World - May 2016 (Part 3) Strange End Times Signs HD
- Central Bankers Continually Suppressing Gold Before The Economy Collapses
- U.S. STOCK MARKET COLLAPSE - Stocks Tumbling & Confidence Falling
- 8 Signs the World is Undergoing a Paradigm Shift
- The Elite’s New Case for Gold
- Gold Daily and Silver Weekly Charts - Plus C'est la Même Chose - Restless
- Trump’s Biggest Deal
- The Real Donald Trump Story - Produced by Defending the USA
- Gold and Silver Price Manipulation on Display This Morning
- Libya's central bank needs gold stashed in safe but code is in dispute
- China's ICBC buys 2,000-ton London gold vault from Barclays
- America: A Nation of Idiots
- Retail Collapse Signals the Economic Recovery is Officially Dead
- Financial Armageddon Looms On The Horizon As The EURO UNION IMPLOSION Nears
- Gold Gets Back on the Rally Tracks
- Here's Why the Gold and Silver Futures Market Is Like a Rigged Casino...
- Chaos In Venezuela, A Precursor For American Societal Collapse!
- CIA Whistleblower on the Sykes-Picot Agreement & Nakba Day
- Gold depository could soon be on its way to Texas
- Central bankers' wisdom faulted as gold holdings surge 25%
- Goldcorp Went Ahead and 'Made my Day'
- Gold Mining Stocks - Getting A Heartbeat
- Gold Speculation at All-Time High, but Gold Price Remains Below 2015 High
| Posted: 16 May 2016 10:33 PM PDT from Zero Hedge:
We can talk about technical charts, supply and demand fundamentals, and price manipulation, all of which point to significant increases in the value of gold and silver for the foreseeable future. But according to Golden Arrow Resources CEO Joseph Grosso, who is credited with the discovery of the largest silver deposit in history, the single biggest reason that retail investors, institutional players and governments around the world are gobbling up physical precious metals, resource stocks and ETF's at unprecedented levels is that they are scared to death of the state of the global economy and where it will go next.
In the following interview with SGT Report the level-headed Grosso explains that there is still hope for America and the U.S. economy, but there will be a lot of pain before it gets better, the consequence of which is an environment that has historically boded well for precious metals as safe haven assets. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Hedge Funds Buy Silver as Silver Bullion Deficit Surges Posted: 16 May 2016 10:30 PM PDT by Mark O'Byrne, GoldCore:
– Precious metal surges 26% in 2016 on Fed, industrial & investment demand – Cumulative global silver bullion deficit surges on revised data Hedge Funds Keep Betting On Silver (Bloomberg) Global Silver Supply Deficit Surges On Revised Data (Silver Seek)
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| Central Bankers Continually Suppressing Gold Before The Economy Collapses Posted: 16 May 2016 10:22 PM PDT from X22 Report: Episode 972a | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold/Silver Imminent Skyrocket with Default Coming on National Debt – Andy Hoffman Posted: 16 May 2016 08:40 PM PDT from CrushTheStreet: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold, Silver, Mining Shares: Big Drop Dead Ahead! Posted: 16 May 2016 08:35 PM PDT Last time I wrote, I pointed to May 19th as being a likely, important bottom in the precious metals complex. It is May 16th in the evening as I write this. If I’m correct, the next three days should prove to be huge down, especially for the miners. Most analysts admit that we are overdue for a correction, but they have no idea how fast and furious it may turn out be. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Speculation at All-Time High, but Gold Price Remains Below 2015 High Posted: 16 May 2016 08:22 PM PDT Technical analyst Jack Chan reports that although gold speculation is at an all-time high, the gold price has not followed suit. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| It’s A Small Club… All Roads Will Lead To Gold. Posted: 16 May 2016 08:05 PM PDT by Bill Holter, JS Mineset, SGT Report:
Two weeks ago, the Fed announced a “48 hour stay in place” provision for for collateral of any derivative contracts where the big banks are involved. The idea here is to prevent collateral being pulled by the survivor for 48 hours should the bank counterparty become insolvent. This will give the Fed a window of time to get the fire hose of liquidity out and reliquefy a large bank’s balance sheet before they can break the derivatives chain. But what does this really do? Does it make derivatives any more sound or does it really just add more risk to central bank balance sheets and thus the currencies themselves?
It is very important to understand just how important derivatives have become. Derivatives have been used to push, pull, manhandle and outright price many global markets. They have been used to paint a picture as “proof” the Alice in Wonderland markets are in fact real. Not even one single market can get out of control because “truth” anywhere will lead to TRUTH everywhere! Even one single market left alone to Mother Nature will lead to questions that cannot be logically answered. First, these provisions being proposed by the Fed are not set to begin until August 2017. I cannot imagine markets holding together this long, in fact, I would give less than 50/50 odds the U.S. actually has an election this November, rigged or not. Next and more importantly, the Fed is actually saying “we will be the backstop” to ALL of the derivatives given the 48 hour window to “fix” the problem at a specific bank. It does need to be pointed out, if any derivative of any size does fail then someone, somewhere, is “exposed”. In reality, since few if any of the derivatives can actually perform …the entire world is swimming naked and already completely exposed! How can I say this? Forget about CDS on something as unpayable as a U.S. default, can the big banks really pony up $300+ billion if Greece were to fail? The real number is probably 10 times this amount as “neighbors” are allowed to purchase insurance on their neighbor’s home. What better incentive to strike a match? Or what about another 10 times that amount if Italy defaulted? My point is this, EVERYTHING, EVERYWHERE is “insured” via derivatives. Many markets and assets have more (or even many times over) “insurance” than the actual market has value, the “coverage” is simply unpayable. The only response to a breakdown of derivatives will be exactly what it always has been, print more and more via QE or other method. This is obviously destructive to currencies as they will be diluted to zero. Whether you look at this picture from the micro standpoint of individual currency dilution, or from the macro standpoint of “solvency” …all roads will lead to gold. Real physical gold cannot be diluted nor can it default. Gold will be viewed for exactly what it is. We have said gold will be the “last man standing” in a failure chain of fiat currencies, it will also be viewed as the ONLY protective hedge in a world completely unhedged. As it stands right now, the belief is that everything is hedged …in reality NOTHING is hedged. Once it becomes understood that no insurance anywhere has the ability to pay up, the world will collectively “change insurance companies” and move toward the only one with the ability to pay, GOLD! Switching gears but I believe very connected to the above, what is to be made of Deutsche Bank offering 3 month accounts paying an annualized FIVE PERCENT interest?!!! To state the obvious, Deutsche Bank needs money (liquidity) badly and they need it now! Think about this, why would they do such a thing in a world where nearly a third of all debt carries a negative interest rate? Why didn’t they go to the ECB’s feeding trough and snort up some zero percent funds? Or, why didn’t they just go to the market place and issue bills for 90 days at 1/4% or less? WHY WHY WHY? Unless DB is pulling some sort of late April fools joke, they obviously need money and are “willing” (being forced) to pay 5%. Is it possible they have been shut out”? Please remember, DB pleaded criminally guilty to manipulating the gold and silver fixes. Part of their alleged settlement was turning state’s evidence and aiding regulators in tracking down other perpetrators. Is it possible the clan of monster derivatives banks is a very small club and Deutsche Bank “ain’t a member anymore” because they turned rat? Other than not having access to capital anywhere else, I cannot think of any reason they would offer 5%? If this has become their only source of funding then we just learned something very interesting. This number of 5% is the REAL and unsubsidized interest rate! Do you see the ramifications? The world has “valued” everything with a basic discount rate of “0%”, what does it mean if rates to raise real capital from the markets is 5% rather than free? Might stock markets be overvalued? …and real estate? …not to mention the foundation of EVERYTHING …BONDS??? This certainly bears watching because if Deutsche Bank has been kicked out of the gentlemen’s club, they have been allowed to carry the red button kill switch called derivatives with them! I am not really sure what to make of this all. Surely the powers that be would not kick the largest (or second largest) holder of derivatives off the reservation, would they? The only possible reason I can imagine is something has already blown up behind the scenes that is too big to be fixed or hidden. The “blame” for a financial meltdown may very well be hoisted around Deutsche Bank’s neck! To finish, please do not roll your eyes at this. If you have a logical explanation as to why DB would offer 500 basis points for three month money if they could get it cheaper elsewhere, I would love to hear it! Anyone who tells me Deutsche Bank is making this offer because they feel sorry for the elderly savers earning nothing on their life’s savings will go into my spam box forever. This was a public article, if you would like to read all of our work, please follow this link to subscribe. Standing watch, Bill Holter | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| WEST TO EAST…. China Taking Delivery of Barclays Gold/Silver Vaults (& Contents?) Posted: 16 May 2016 07:45 PM PDT by Bix Weir, Road to Roota, SGT Report:
The latest news is that China’s largest bank ICBC Standard Bank is buying another massive gold and silver storage vault in London from the huge gold/silver derivative player Barclays Bank… China’s Largest Bank is Quietly Cornering the Market This follows other Chinese vault purchases by China from Deutsche Bank and the JP Morgan Chase vault at One Chase Plaza (which reportedly has a secret underground vault with a tunnel connecting it directly to the Fed New York vault.)
Make no mistake – these are more than real estate transactions. These are TRANSFERS of physical metal from electronic COMEX and LBMA contract holders that STOOD FOR DELIVERY. All unreported as per the LBMA’s Association Rules but they are physical transfers just the same. The bullion banks are being GUTTED at just the right time. Meanwhile, the stock market was saved this morning, once again, by Warren Buffet. He announced a large position in Apple which was the media’s signal to start the propaganda machine rolling and voila…the market opened to the upside. Warren Buffett’s Berkshire Hathaway Takes $1B Position in Apple But we all know the real story. Buffett is playing his role in this game to take down the banksters and he will continue to do so UNTIL the Good Guys are ready to pull the plug. Here’s my latest interview with “V” about where we stand on “pulling the plug.” Interview: Bix Weir & “V” The Guerilla Economist On a lighter note, here is a great interview from Clif High and Joe Tampa which is Full to the Rim with issues and info that Roota has been talking about for over a decade. It’s as if the WebBot’s future is lining up with Roota’s predictions…or is it the other way around since I’ve been following Clif’s work for over 5 years?! Hmmm… You can find more information on the Stock Fraud at the DTCC in this interview I did with Sean at SGTReport: Oh, and if you own any mining shares and are all Gitty that they’ve doubled in only a matter of months…are you SURE you can get out before the entire game shuts down? Remember – when the banks go down the markets (as we know them) will close down immediately and likely stay closed for longer than your lifetime so… Nobody Gets Nada! Stay tuned. May the Road you choose be the Right Road. Bix Weir | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Judge Jeanine Goes Nuclear On Hillary: "The American People Have To Stop Her" Posted: 16 May 2016 06:50 PM PDT Having previously warned "an insurrection is coming," and that the establishment's "scorn for the will of the American people is mind-boggling," FOX News Judge Jeanine - the only media peronality who correctly predcted trump's ascent due to his position as a colective middle finger to the status quo - unleashed another tirade of reality checks for the establishment - this time aimed at Democrats...
Full opening statement...
Full Transcript... Hello, and welcome to Justice. I'm Judge Jeanine Pirro. Thanks for being with us tonight. Hillary Clinton cannot be President of the United States, and if the establishment including law enforcement does not stop her – you have to. This is not about politics. It's about you, your family, and this great nation. It’s about preventing people who have no regard for the law, or you, for that matter, from running this country. At a time when just about everybody is fed up with establishment politicians, when two outsiders are winning epic contests against preordained presidential candidates, Hillary Clinton is still in line to be coronated the Democratic nominee for President of the United States. How can the woman – who is under criminal investigation – who knows she's under criminal investigation, but lies to your face saying that she's not – continue on her path to the White House? The majority of Americans believe, and are right, that Hillary Clinton is untrustworthy, dishonest and a liar. Hillary has danced with federal prosecutors for most of her career. She knows how to conceal, delete and destroy evidence – remember those pesky missing Rose Law Firm files? Not to mention 30,000 deleted emails… She lies so much she doesn't know the difference between the truth and a lie, and, like most liars, can’t even keep her stories straight. Example: this week – in response to Hillary's claim that the FBI was doing a security inquiry on her private homebrewed server, one by the way conducted reportedly by over 100 FBI agents, FBI director Jim Comey says: security inquiry? I don't know that term. We investigate crimes. This is a law enforcement proceeding. Now I told you that three months ago: now the cynics among you might say it's all political. But Jim Comey is appointed by Barack Obama. And is one of the most clearheaded, logical and honorable people in Washington – a trait somewhat foreign to that town. And don't give me that woman thing where it's time for a female president. Yeah it is – but not her. What makes you think electing this woman who's spent most of her career riding her husband’s coat tails is necessarily a good thing? Doesn't it depend on the individual man or woman? For those of you who think a woman will help other women – consider this: the Clinton Foundation - an organization over which the Clintons have control – pays female employees 38 cents less per dollar than males. So much for that old pay inequality thing. Supporting women? Hillary made her bones creating the attack team on all the women who said Bill engaged in sexual activity, ranging from harassment to affairs to worse. If these women are all liars, why was Paula Jones awarded $850,000 from the Clintons? And Monica Lewinsky's dress – if only that blue dress could talk. Which brings me to the Clinton Foundation, an alleged 501c3 not-for profit that I see as nothing more than a piggy bank for the Clintons, their friends and her presidential campaign. Just this week – it was reported that this wonderful charitable organization gave $2 million to Bill's blonde divorcee friend, designated the energizer by the Secret Service when she visited him at home in Chappaqua when Hillary was on the road. The report in The Wall Street Journal says money from the charity was actually given to a for-profit company partly owned by Ms. "Energizer". According to government watchdog groups, this may very well violate federal law. And consistent with past Clinton behavior, the destruction and/or removal of evidence begins. Shortly after the grant, Ms. Energizer's company was reportedly removed from the Clinton Global Initiative's website. I'm sure it was an oversight, like the moneys from countries to the foundation when Hillary was Secretary of State, over whom her department made decisions that benefited them. The Clintons have always been about the Clintons. Evidence: Benghazi. She lied about the video when she knew it was Al-Qaeda to benefit her politically. But even that doesn't matter as much as knowing there are men waiting for help on a rooftop for eight hours when that assault on the consulate took place. Remember that 2008 3 am phone call she wants you to believe shows that she is ready to protect us? That's baloney. She had a chance to prove it and she proved just the opposite. That her political future was more important than American lives. And the woman has no shame claiming that the parents of Tyrone Woods and Shawn Smith are lying, not her, about what she said to them as their children’s bodies were brought into Andrews. The woman has never been able to keep her stories straight. From one Blackberry for convenience and then there were three, and then there were 30,000 emails destroyed – she engages in the destruction of evidence to protect herself, like those pesky lost Rose Law Firm emails. And they are in it together. Bill just last week saying that email thing is kind of like a speeding ticket. No, Bill, it's got nothing to do with speeding tickets. It's got to do with espionage, conspiracy, destruction of evidence, concealment and risking the secrets of this great nation for the world to see. Russia has admitted it's got 20,000 of her emails. Guccifer says that hacking her emails was one of the easiest things he'd ever done. So why do they get away with it? Why do they do things that if any of us – even a four-star general – does, would put us in jail? What is it about them that puts them above the law? I submit it is the people that are indebted to them, the people for whom the Clintons have done favors, the classic inside game. For years, Americans working two and three jobs to support their families have watched as Washington politicians elected to represent us walk into those hallowed chambers and proceed to line their pockets and their pensions and their campaign reelection coffers and walk out multi-millionaires. The Clintons are among the worst. If the establishment is not willing to admit that no one is above the law and is not willing to garner justice, then ordinary Americans need to make sure the scales of justice are level for all of us. And that's my open. * * *
h/t @Raven_PA_ | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| "Markets Have No Purpose Any More" Mark Spitznagel Warns "Biggest Collapse In History" Is Inevitable Posted: 16 May 2016 06:47 PM PDT After making over $1 billion in one day last August, and warning that "the markets are overvalued to the tune of 50%," Mark Spitznagel knows a thing or two about managing tail risk.
The outspoken practitioner of Austrian economic philosophy tells The FT, "Markets don't have a purpose any more - they just reflect whatever central planners want them to," confirming his fund-management partner, Nassim Taleb's perspective that "being protected from fragility in the financial system is a necessity rather than an option."
While some money managers are critical of a strategy that “sells fear,” The FT reports there are others who share Mr Spitznagel’s views that another reckoning is imminent.
Universa started in January 2007 after its success during the financial crisis, when it reportedly gained about 100 per cent. The firm now protects about $6bn of investor money, backed by about $200m-$300m of capital (the firm declined to say exactly how much because of regulatory issues). Fees are paid on the nominal amount insured against calamity, rather than the capital invested.
The libertarian hedge fund manager sees a close similarity between what he is trying to achieve at Idyll Farms — which he built in 2010 with winnings from the financial crisis — and his investment strategy and deeply-held Austrian economic philosophy.
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| Gold Price Closed at $1273.40 up $1.50 or 0.12% Posted: 16 May 2016 06:34 PM PDT
Silver & gold left me scratching my head today. Here's a 5 month gold chart, http://schrts.co/FTv9qW Today gold jumped up as high as $1,290.40, but closed Comex only $1.50 higher at $1,273.40. So it closed about where it opened, and gained very little, after pushing up into new high territory for this short term leg. It tested resistance above $1,288, but was beaten back. That is weak, but gold has stayed above its 20 day moving average, even as it was falling, since 28 April. Meanwhile every analyst is looking at wildly overblown Commitments of Traders wondering why gold -- and silver -- haven't fallen. It's never a good idea to stare a market in the eye saying "You're wrong!" On the other hand, careers are cut short by not respecting warning signs. Musing over the weekend I began to wonder whether gold might be saying, "I'm not going to correct. I'm going to blow the top out of this range and move $50 higher before I correct." In other words, the last 3-1/2 months are beginning to look more like a consolidation than a top. As long as gold does not fall through that lower range boundary, today about $1,238, no correction & no lower prices are coming. Somebody reminded me today about the 2009-2011 gold market. It just kept trading up & up with hardly a correction. Chart's here, http://schrts.co/UUrjxN Even those corrections that look large were no more than 15% down from the high, most 10%. Makes me nervous as a Yankee teetotaler in a Georgia roadhouse, but I have to face the possibility gold & silver will move higher before they correct. Yep, I can feel the limb bouncing underneath me as I pull out my saw. Silver rose with gold as high as 1743, then faded. Closed Comex 2.7¢ higher at 1714.2¢. On the daily chart silver & gold were chugging right along until 1:30, when somebody on the 2nd floor dropped a piano on their heads. I'd rather silver & gold corrected so I get a chance to buy them cheaper, but they are refusing to let me tell them what to do. Stocks surged today as copycat investors sought to sore to the Buffettian empyrean by buying Apple after Warren Buffett's Berkshire-Hathaway reported buying 9 million shares of Apple. Nobody remembered apparently that two weeks ago Carl Icahn announced he sold out his Apple holdings, 52.8 mn shares since February. Good luck, copycats. Apple has a chart that looks like it came out of Nightmare on Elm Street, complete with bloody chain saw: dome top, two gigantic breakdowns. Probably has exhausted the downside for a little while, but appears headed from its present 93.88 to about 65 before the fall has ended, maybe lower. Dow added 175.38 (1%) for a 17,710.71 close. S&P500 rose 20.056 (0.98%) to 2,066.66. Y'all can get all worked up about stocks' great future if you want, but I will merely point to the chart where the right shoulder of a head & shoulders top is completing. Once that is finished, a large drop will follow, to the tune of weeping, wailing, and gnashing teeth. Wait! Did I leave out "hair-pulling"? US dollar index stalled again today, beneath the 50 DMA still. Lost 6 basis points (0.06%) to 94.54. Mighty slothful for a mighty currency. I am most grateful for y'all's continuing prayers for healing after my foot surgery. That rascal toe has hardly hurt, but the whole foot is sort of tuning up today, like an orchestra fixing to play some of that crazy stuff by Bartok or Rachmaninoff. I would be grateful if y'all continued to pray. 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. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 16 May 2016 06:25 PM PDT Submitted by Mac Slavo via SHTFPlan.com, We can talk about technical charts, supply and demand fundamentals, and price manipulation, all of which point to significant increases in the value of gold and silver for the foreseeable future. But according to Golden Arrow Resources CEO Joseph Grosso, who is credited with the discovery of the largest silver deposit in history, the single biggest reason that retail investors, institutional players and governments around the world are gobbling up physical precious metals, resource stocks and ETF’s at unprecedented levels is that they are scared to death of the state of the global economy and where it will go next.
In the following interview with SGT Report the level-headed Grosso explains that there is still hope for America and the U.S. economy, but there will be a lot of pain before it gets better, the consequence of which is an environment that has historically boded well for precious metals as safe haven assets.
As Joe Grosso notes, mining companies have been pummeled over the last five years, leaving many to be either completely liquidated, or pausing operations until such time that prices eventually rise as a result of either core supply and demand fundamentals, or outright panic buying during economic crisis. But unlike most proponents of a rising silver price, Grosso brings a unique perspective to the conversation, because he doesn’t necessarily see Venezuela-style meltdown, hyperinflation and chaos coming to the United States:
The American people do, indeed, understand that the system is broken as evidenced by the rise of extremely popular anti-establishment political candidates on both sides of the aisle. It appears that, at least on some level, the people are willing to take the medicine. But whether the governing bodies dispense it is a whole nother matter. Failure to do so, says Grasso, means that things will only get worse. If and when things get worse, panicked and concerned citizens the world over will continue to shift capital into assets like gold and silver, which will be the only currencies left standing when it really hits the fan. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Soros puts $264 million in Barrick Gold, buys calls on gold ETF Posted: 16 May 2016 05:44 PM PDT Billionaire Soros Cuts U.S. Stocks by 37%, Buys Gold Miner By Jesse Riseborough and Saijel Kishan Billionaire George Soros cut his firm's investments in U.S. stocks by more than a third in the first quarter and bought a $264 million stake in the world's biggest bullion producer, Barrick Gold Corp. The value of Soros Fund Management's publicly disclosed holdings dropped by 37 percent to $3.5 billion as of the end of the last quarter, according to a government filing today. Soros acquired 1.7 percent of Barrick, making it the firm's biggest U.S.-listed holding. Soros also disclosed owning call options on 1.05 million shares in the SPDR Gold Trust, an exchange-traded fund that tracks the price of gold. ... ... For the remainder of the report: http://www.bloomberg.com/news/articles/2016-05-16/billionaire-soros-cuts... 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bullion Star makes a graphic of the Comex gold market Posted: 16 May 2016 05:15 PM PDT 8:15p ET Monday, May 16, 2016 Dear Friend of GATA and Gold: Bullion Star has created a graphic illustration of the Comex gold market, showing that, like the London gold market, the Comex is a fractional-reserve-based and largely unallocated market with little real metal ever being delivered. The graphic is posted at Bullion Star here: https://www.bullionstar.com/blogs/bullionstar/infographic-comex-gold-fut... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT A Contrarian's Call Option on Gold Sandspring Resources' Toroparu project in Guyana is the fourth-largest gold deposit in South America held by a junior mining company. Experienced backers of Sandspring Resources include Silver Wheaton, the John Adams / Energy Fuels group in Denver, and Frank Giustra's Fiore Group in Vancouver. A 2013 preliminary feasibility study shows strong economics for this large-scale mine at US$1,400 gold. With a current gold price below US$1,300, Sandspring is for investors who believe that gold price suppression will be overcome. For a detailed report on Sandspring Resources by Tommy Humphreys of CEO.CA, please visit: https://ceo.ca/@tommy/a-ten-million-ounce-call-option-on-gold 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sins Of The World - May 2016 (Part 3) Strange End Times Signs HD Posted: 16 May 2016 05:00 PM PDT America is the whore of Babylon. God will destroy this nation , judgment is coming soon 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! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Central Bankers Continually Suppressing Gold Before The Economy Collapses Posted: 16 May 2016 04:19 PM PDT Companies are now reporting more layoffs are on there way. Gold was suppressed today by the central bank. Empire Fed Manufacturing declined. 2nd Q earnings reports does not look good. Stock buybacks are slowing down and are now at 2009 levels.China's largest bank is slowly corning the market on... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. STOCK MARKET COLLAPSE - Stocks Tumbling & Confidence Falling Posted: 16 May 2016 03:00 PM PDT Mainstream news outlets are already starting to use the phrase "economic collapse" to describe what is going on in some areas of our world right now. For many Americans this may seem a bit strange, but the truth is that the worldwide economic slowdown that began during the second half of last year... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| 8 Signs the World is Undergoing a Paradigm Shift Posted: 16 May 2016 02:30 PM PDT 8 Signs the World is Undergoing a Paradigm Shift by Tim Bryant May 16, 2016 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! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 16 May 2016 01:50 PM PDT This post The Elite's New Case for Gold appeared first on Daily Reckoning. As you may know, the "Shanghai Accord" is a secret plan created by the G-4 (China, the U.S., the eurozone and Japan) on the sidelines of the G-20 meeting in Shanghai, China, on Feb. 26. The plan is to strengthen the euro and the yen and ease the dollar. With the Chinese yuan pegged to the dollar, this combination gives China financial ease and a competitive advantage over its trading partners. The Shanghai Accord will be an operative reality in global currency markets for the next several years. The message is that Japan should not even think about market intervention to weaken the yen. But the G-20 is a high-level club with no secretariat or staff of its own. Who does the dirty work when the G-20 wants to send a message? The answer is the IMF. The International Monetary Fund acts as the eyes and ears of the G-20 and makes sure all of the members stay in line and live up to their commitments. The IMF has already threatened Japan publicly (in polite language, of course). The IMF essentially said, "Let the exchange rate move however it wants to." That means the strong yen trade will continue. Japan has been warned. Where is the world going under the Shanghai Accord? To answer that question, I recently attended the IMF Spring Meeting in Washington, D.C. This was a larger version of the G-20 meeting in Shanghai. It was the first time that all the "five families" of the global monetary system had gotten together since a smaller meeting in Paris on March 22. One of the most remarkable events I saw in Washington was Christine Lagarde's press conference on April 14. This is where Lagarde put on her Godfather hat and threatened Japan. Here's the exact transcript of the question and answer:
The substance and tone here are unmistakable. After the Shanghai Accord, the yen strengthened materially, with clearly negative implications for Japanese growth and Japanese stock markets. There was enormous pressure on the Bank of Japan from the Japanese government to intervene to weaken the yen (contrary to the Shanghai Accord). In her press conference remarks quoted above, Lagarde is warning Japan not to intervene in foreign exchange markets to weaken the yen. She says the only time for intervention is "very disruptive volatility," which is not the case today. (The yen is strengthening, but in an orderly way.) She then goes on to warn Japan, "We are watching very carefully." That's an implied threat that if Japan reneges on the Shanghai Accord, there will be a price to pay. The IMF has leverage because it is the de facto central bank of the world. It has leverage to provide dollars or special drawing rights (SDRs) in the event of a liquidity crunch or market panic in Japan (which may be coming soon). The IMF has used this kind of muscle on Greece, Cyprus and Ukraine in recent years. Now the Godfather was making Japan an offer they couldn't refuse — stick to the Shanghai Accord and we'll be there for you if needed; renege, and you're on your own. The elites deny the Shanghai Accord even exists. David Lipton, the first deputy managing director of IMF, for example, said there is no Shanghai Accord. The head of the Bank of Japan also came out denying its existence. But there's an old saying from a British journalist: "Never believe anything until it's officially denied." I find the fact that the people in the room are denying it is very good proof that it exists. For further evidence that the Shanghai Accord is an actual effort to weaken the dollar and the yuan at Japan's expense, I refer you to a Reuters article from last Wednesday. It was titled, "U.S. Wants Japan to Refrain From FX action: PM Abe’s Aide." According to one of Abe's key economic advisers, U.S. officials made it "pretty clear" they don't want Japan taking any steps to weaken the yen. "'For Japan,'" the aide is quoted as saying, "'it would be a choice of enduring [unwelcome yen rises] a bit longer or intervene in the market,' knowing that doing so could anger the United States." U.S. officials haven't issued Japan any direct warnings demanding it refrain from weakening the yen. But tellingly, a U.S. Treasury Department report released this month added Japan to a list of countries it was monitoring for currency manipulation. That's not an accident. Below, I show you the one way to produce inflation that doesn't require the Shanghai Accord or destructive currency wars. And the elites are finally starting to talk about it publicly. What's their next plan? Read on… The world's monetary authorities, including the Federal Reserve Policy and the Treasury, will not rest until they produce inflation. If debt is growing at 3 to 4% a year, while the economy is only growing at 2% a year, you're not growing out of your debt. Debt is growing faster than the economy. That puts us on the path to Greece. That's going to lead to a crack-up. That's why monetary elites are desperate for inflation. The world has been battling deflation since the 2008 crisis. That deflation is fueled by three trends, and it's not just the unwinding of the housing bubble. One is demographics, which is a very powerful force. Populations are declining. If you have a declining or flat population and decreasing productivity, growth will suffer. One of the reasons the U.S. population is still increasing is not because of its birth rate, but because of immigration. Meanwhile, populations are declining in places like Russia and Japan. China's population has actually leveled out. These are very serious problems for the future growth of these economies. One of the reasons Angela Merkel is letting a lot of Syrian and Turkish immigrants into Germany is because the German birthrate is low. It's the same reason why the U.S. essentially opened its borders. It's a big political debate. But to an economist, immigration can be one of the ways to produce growth. The second deflationary headwind has been home mortgages and other kinds of debt. There hasn't seen inflation because velocity isn't increasing. The economists say people will spend money if you give it to them. But they haven't actually spent it. They've been paying down debt. The third vector in the deflationary story is technology. This is an old story. In the 1870s and 1880s, there was a sustained period of deflation because of the mechanization of farm equipment, steam ships, railroads, telephone, telegraph, electricity, and many other innovations. These were deflationary because of the great productivity they unleashed. We see it in computer technology today. But the U.S. government won't tolerate deflation these days because it's highly destructive to government interests. One thing that's different today is our government debt-to-GDP ratio is at an all time high. It's higher than ever, even at the end of World War II. That's just if you count the amount of Treasury debt outstanding. That doesn't include contingent liabilities like Social Security, Medicare, Medicaid, veterans benefits, guarantees from Federal Home Loan Bank Systems, FDIC insurance, student loans, etc. How many of those guarantees are going to get called? The answer is a lot, particularly as baby boomers get older and student loan default rate goes up. When you hear a political candidate talking about upwards of $20 trillion of national debt, that's just Treasury bonds. When you put all this contingent liabilities, multiply that by ten, that's the true debt. How are you going to meet all those promises? The easiest way to do it is with inflation. The government actually writes the checks, but they're not worth very much. It'll pay with inflated dollars. That's traditionally the way the U.S. government gets out from under its debt. Another possible option is outright default, but there's no reason for the United States to default on its debts. Default is a very unattractive option. So there are three ways out of debt. One is default, which is not a good option. One is growth, but it's not happening. The third way is inflation. The government has to have inflation. If it doesn't, there's going to be a crack-up in the national debt. But we're not getting inflation from monetary policy. There's another option, however. The idea's been around for a long time, but now it's being spoken about publicly by elites. That's to have central banks, whether the Fed or the emerging markets, bid up the price of gold. A higher gold price will also drive prices in the overall economy higher. It's possible to devalue every currency in the world against gold at the same time. Gold is money, but it's a different kind of money. It's not central bank money. Gold is the exception to the currency wars. Gold is the one form of money that every other form of money can devalue against simultaneously without fighting currency wars. Gold doesn't fight back in the currency wars. That means a much higher dollar price for gold. The elites are starting to come out and talk about it openly. This has never happened before. Here are two very specific examples… In PIMCO's April 2016 monthly commentary, one of their in-house economists named Harley Bassman talked about the Federal Reserve raising the price of gold: "So in the context of today's paralyzed political-fiscal landscape and a hyperventilated election process," Bassman wrote, "how silly is it to suggest the Fed emulate a past success by making a public offer to purchase a significantly large quantity of gold bullion at a substantially greater price than today's free-market level, perhaps $5,000 an ounce?" Here's one of the chief economists of PIMCO, the largest bond fund in the world talking up gold. PIMCO is owned by Allianz Asset Management which is part of Allianz, the biggest insurance companies in the world. When you talk about Allianz and PIMCO, you're talking about the establishment. This is not some blogger. And they're talking about $5,000 gold, publicly. Another example is economist Ken Rogoff. He was chief economist of the International Monetary Fund from 2001 to 2003. He's a full professor at Harvard University and recipient of the 2011 Deutsche Bank Prize for financial economics. He's also co-author of a book about the impact of debt on economic recovery. Rogoff is a full fledged member of the establishment. Some of my inside sources, who must remain confidential, have told me that Ken is on the short list to fill one of the vacancies on the Federal Reserve's Board of Governors. And Rogoff wrote a May 3rd article titled, "Emerging Markets Should Go for the Gold." Here's what he said: "I am just proposing that emerging markets shift a significant share of the trillions of dollars in foreign-currency reserves that they now hold into gold. Even shifting, say, up to 10% of their reserves into gold would not bring them anywhere near the many rich countries that hold 60% to 70% of their admittedly smaller official reserves in gold." Here's Ken Rogoff suggesting emerging markets put 10% of their reserves into gold. If that sounds familiar, I don't know how many times I've told people to allocate 10% of their liquid assets to gold. And here's our Harvard professor saying that emerging markets should put 10% of their assets in gold. Then he talks about the impact on price. Again, I'm quoting from the article: "Many countries hold gold at the New York Federal Reserve and over time, the price can go up. It is for this reason that the system as a whole can never run out of monetary gold." Just take that last phrase, "The price can go up. It is for this reason that the system as a whole can never run out of monetary gold." I've also been saying this for years. It's one thing when I say it in my books and speeches. But it's another when you see Ken Rogoff — former chief economist of the IMF and potential nominee for a seat in the Federal Reserve Board, saying exactly the same thing. To me that's highly significant. Some people might panic if the Federal Reserve engineers higher gold prices, especially since it's done nothing but disparage gold's role in monetary affairs. But having the emerging markets drive gold higher provides the Fed some cover. It distances the Fed from the process. To me, the elites are letting the cat out of the bag. Again, this is the top people in the system. A chief economist at PIMCO and a Harvard professor and former IMF chief economist who may be in the Federal Reserve Board, both argue that higher gold prices can produce the inflation the elites seek. This is a signal telling you it's coming. Regards, Jim Rickards P.S. Another dollar crisis is coming. It's not a question of if, but when. And gold could soar to record levels when it strikes. If you own gold beforehand, you can preserve – and grow – your wealth. That's why we've produced a FREE special report called The 5 Best Ways to Own Gold. Don't buy any gold until you read it. We'll send you your report when you sign up for the free daily email edition of The Daily Reckoning. Every day you'll get an independent, penetrating and irreverent perspective on the worlds of finance and politics. And most importantly, how they fit together. Click here now to sign up for FREE and claim your special report. The post The Elite's New Case for Gold appeared first on Daily Reckoning. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Daily and Silver Weekly Charts - Plus C'est la Même Chose - Restless Posted: 16 May 2016 01:24 PM PDT | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 16 May 2016 01:19 PM PDT This post Trump’s Biggest Deal appeared first on Daily Reckoning. LONDON – A dear reader challenged us:
Another put it a different way:
The Importance of CabbagesWe answer the first question by responding to the second… No, our agenda is not to fix America's problems. That's too tall an order for a free letter! Besides, America's wounds are mostly self-inflicted – the result of free and fair elections (along with the usual fraud and delusions). Far be it from us to come upon the scene with morphine and bandages… and interfere with the workings of such a grand and elegant democracy! Besides, we're too busy to fix America's problems… or design a new government. We have problems of our own. Fences that need to be repaired. Toilets that need to be unclogged. And cabbages that need to be planted. Alert readers will spot the reference to Emperor Diocletian. After fixing the empire for 20 years – with acts in equal measure of genius, wisdom, and imbecility – Diocletian finally saw the light. He retired, returned to his home on the Dalmatian coast, and planted cabbages! Cabbages are real. And important. You can eat them. They can keep you alive. Government and its policies, its great causes, its Lincolns and Bonapartes, are confabulations of myths, hallucinations, conceits, and lies. Pharaoh was a god, the ancient Egyptians believed. So it made sense to scrape huge pieces of rock across the hot desert to honor him. Louis XIV was appointed by God. He had a "divine right" to rule, and if that was so, who could say no to him? And now, the myth-du-jour is that God stands shoulder-to-shoulder with 51% of registered voters; no matter what dumbheaded thing they do, they always have Him on their side. Trump's Next DealAlas, in modern democracy, the majority can't really know what is going on or why. The world is too big… and infinitely complex. The sacred majority can't follow the details of public policy, even in its backyard. Who among the 51% read the enabling act for Obamacare? Imagine trying to keep up with the shifting politics of the Middle East! The voters can't tell a Shiite from a she-wolf. So, policies are set not by the voters but by the elite… the Deep State. Under cover of the dense claptrap and folderol, the elite figure out how to game the system. These "foxes," as the great Italian economist, Vilfredo Pareto, called them, soon have the government doing their bidding. Can Donald Trump escape the foxes? The whispering has already started. The foxes are already reconciled to "The Donald" as the Republican candidate. "We can work with this man," they say to one another. "We may have to…" they sigh. Their message to Trump: "We can work together." And now, Mr. Trump must negotiate the most important deal of his life. The papers report that casino magnate and regular Republican donor Sheldon Adelson is considering a major investment in the Trump team. We assume he has worked out the terms; most likely Adelson – an ardent supporter of Israel – will insist on a continuation of the Bush-Clinton foreign policy. That shouldn't be much of a problem. Trump has made it clear he doesn't mind torturing people or killing their families, if that's what it takes to keep the Deep State in business. And he is rumored to be considering Newt Gingrich for his running mate. That should reassure the Northern Virginia real estate market; the billions of dollars will continue to flow to the military-security-foreign policy industries and pay for McMansions in Fairfax County. A Better Government?And what about at health, education, and welfare? Trump has already suggested an increase in the minimum wage might be in order. "Don't forget," the foxes whisper, "zombies vote too!" Then he quickly backed away from an honest discussion of America's public debt. Someone must have let him know how it works. "Hey," they probably told him, "we gotta fund the Deep State somehow!" Trump, a quick learner, even suggested a tax hike on the rich. Our guess is that the best dealmaker in the world will have no trouble finding a win-win with Washington and Wall Street. Our guess is that Wall Street will have no trouble convincing "The Donald "to continue the Greenspan-Bernanke-Yellen financial policies. Most likely, the ugly truth hidden in his tax records is that he has a lot less money than his bragging suggests… or a mountain of debt. Just guessing (to be confirmed or disproven by later events), but Trump built his fortune on bold moves, cheap credit, and lucky breaks. It would not be surprising if he were deeply in debt; who isn't? And now, he needs the Fed's low interest rates as much as anyone. But… but… but… No matter who is elected, he will have to come to terms with the real government – the foxes who run the Deep State. But remember our questions for today: This just democracy in action, warts and all, right? Nothing is perfect, right? There is no alternative, right? Right? Wrong! Of course, there's a better system. Jefferson had the right idea. And Andrew Mellon. Friedrich Hayek. Ludwig von Mises. Milton Friedman. Murray Rothbard. Ron Paul. Small, limited government… with no unpayable debt… no phony money… no empire… no QE… no ZIRP… no phony War on Terror, no War on Drugs… no War on Poverty… No Fannie. No Freddie. No trade deals. No foreign policy. A better government? All we can recommend is a smaller one. With less money to steal… and fewer cronies to steal it. Regards, Bill Bonner P.S. Another dollar crisis is coming. It's not a question of if, but when. And gold could soar to record levels when it strikes. If you own gold beforehand, you can preserve – and grow – your wealth. That's why we've produced a FREE special report called The 5 Best Ways to Own Gold. Don't buy any gold until you read it. We'll send you your report when you sign up for the free daily email edition of The Daily Reckoning. Every day you'll get an independent, penetrating and irreverent perspective on the worlds of finance and politics. And most importantly, how they fit together. Click here now to sign up for FREE and claim your special report. The post Trump’s Biggest Deal appeared first on Daily Reckoning. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Real Donald Trump Story - Produced by Defending the USA Posted: 16 May 2016 12:30 PM PDT The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold and Silver Price Manipulation on Display This Morning Posted: 16 May 2016 12:19 PM PDT Gold Stock Bull | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Libya's central bank needs gold stashed in safe but code is in dispute Posted: 16 May 2016 10:46 AM PDT By Hassan Morajea and Tamer El-Ghobashy BEYDA, Libya -- Underneath a bank in this eastern coastal city, a vault holds a trove of gold and silver coins worth $184 million. It belongs to the central bank, which could use the money to alleviate a crippling cash shortage. The pile, however, presents some problems. The coins are locked away with a five-number code that central bankers in this part of the country don't have. A rival government in Tripoli, which has effective control over the bank system, won't hand over the digits and has expressed concern the money could fund armed militias opposed to its rule. To make things worse, the metal pieces bear the face of Moammar Gadhafi, the reviled leader who was overthrown, captured, and killed in 2011. ... ... For the remainder of the report: http://www.wsj.com/articles/libyas-central-bank-needs-money-stashed-in-a... ADVERTISEMENT The Committee to Destroy the World: This new book by Michael E. Lewitt is a passionate and informed analysis of the struggling global economy. Lewitt, one of Wall Street's most respected market strategists and money managers, updates his groundbreaking examination of the causes of the 2008 crisis and argues that economic and geopolitical conditions are even more unstable today. Lewitt explains how debt has overrun the world's productive capacity, how government policies have created a downward vortex sapping growth and vitality from the American economy, and how greed and corruption are preventing reform. For more information: http://www.wiley.com/WileyCDA/WileyTitle/productCd-1119183545,subjectCd-... 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| China's ICBC buys 2,000-ton London gold vault from Barclays Posted: 16 May 2016 10:40 AM PDT By Eddie van der Walt and Stephen Morris ICBC Standard Bank expanded its push into London's precious metals market by agreeing to buy one of Europe's largest vaults from Barclays. ICBC Standard, formed last year after Industrial and Commercial Bank of China Ltd. -- China's biggest bank -- bought a controlling stake in Standard Bank's global markets business, expects the purchase of the vaulting business and related contracts to be completed in July, it said in an e-mailed statement today. No financial details were given. About $5 trillion of transactions are cleared every year in London's gold market, which Barclays is exiting as it pulls out of precious metals. ICBC Standard last week joined the city's precious-metals clearing system and last month won classification as a market maker by the London Bullion Market Association. "This enables us to better execute on our strategy to become one of the largest Chinese banks in the precious metals market," Mark Buncombe, head of commodities at ICBC Standard Bank, said in the statement. "The acquisition of a precious metals vault allows us to expand our services in clearing and processing." ... ... For the remainder of the report: http://www.bloomberg.com/news/articles/2016-05-16/icbc-standard-bank-buy... 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 16 May 2016 09:16 AM PDT This post America: A Nation of Idiots appeared first on Daily Reckoning. Do you support bombing Agrabah? That's a poll question posed to American primary voters recently. And roughly 30% of Republicans and 20% of Democrats replied "yes." Why does a sizeable chunk of America want to annihilate the fictional city in Disney’s 1992 film Aladdin? Simple answer: They are brain dead. Effectively, victims of full frontal lobotomies. They live in a fantasy… as fake as the made-up city of Agrabah that they want to carpet bomb. While you may find this shocking display of ignorance funny, it's far more dangerous to you than you might think… A National DisgraceMaybe you are cursing me as too harsh. Maybe that poll didn't give those voters a fair shake… Sure, Americans can be self-absorbed and unaware of what's going on in the world. But here at home, the supposed beacon of global democracy, we have our fingers on the pulse of what's happening in our country, right? After all, as Thomas Jefferson said: "An enlightened citizenry is indispensable for the proper functioning of a republic." So just how "enlightened" are Americans about how our own country functions? Well, a University of Pennsylvania poll revealed that only 36% of Americans could name all three branches of the government. And an appalling 35% couldn’t name any of them! In the same poll, more than 60% of Americans didn't know which political party controlled the House of Representatives or the Senate. A separate Newsweek poll found that just 1 in 1,000 could name all five freedoms granted under the First Amendment to the U.S. Constitution. You know, the same freedoms that are the bedrock of our nation… the freedom of speech… religion… press… assembly… and petition for a redress of grievances. Oh, by the way, that same poll found that more than 1 in 5 Americans could name all five members of the cartoon family The Simpsons. Not surprising. Our Country Has Been StolenAmericans love to complain about how unhappy they are with their government. And they especially love to pretend that when their partisan choice is the leader, everything will be solved. It's a recurring drama. Wash, rinse and repeat—for decades. So when tens of millions don't bother to learn how their system of government works or who their elected representatives even are, it's time to start using the expression "useful idiots" more regularly. If voters have no clue what's happening in the halls of Congress, there should be zero expectation that they will exert any control over policy. And that's played right into the Deep State's hands… It's led to massive self-serving spending bills passed without the majority of Congress even reading them… leading to trillions in national debt. It's led to wars routinely conducted without Congressional approval, an approval that used to be required by the War Powers Act. The Deep State simply calls these excursions that occur under the banner of the American flag military "interventions" or "actions" in order to bypass the Constitution and keep the war machine rolling (and the Beltway bandits rolling in profits). And it's also led to unelected bureaucrats at the Fed using zero interest rates as backdoor bailouts for the big banks while decimating the retirements of millions of hard-working Americans. All of this because most of the American public has for years been caught up in a reality TV, tabloid gossip and "selfie" culture. Everyone wants to be rich and famous and do no work for it. Regular "awake" readers complain to me about this new zombie culture all the time. And they're dead right. Large-scale voter ignorance and apathy have made it incredibly easy for the Deep State to game our system and cement its power. And it's allowed America to be continuously pimped out by nameless foreign bankers, oil sheiks and a ruling class that no one elects. Is 2016 finally the year of meaningful change? Have the American people finally woken from their decades-long Rip Van Winkle siesta? The large crowds at Trump and Sanders events shows seismic shifts quaking the country. Is it all fleeting? Will it translate to a dent in Deep State power? I suspect the Deep State has already won and the circus will leave town soon. And if that's the case, you better have a real plan for dealing with major uncertainty, negative interest rates and a system that is dying to collapse the stock market once again. Please send your comments on this critical subject to me at coveluncensored@agorafinancial.com. Regards, Michael Covel The post America: A Nation of Idiots appeared first on Daily Reckoning. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retail Collapse Signals the Economic Recovery is Officially Dead Posted: 16 May 2016 09:11 AM PDT The “recovery” is over, at least as far as retail is concerned. The retail ETF (XRT) has taken out its bull market trendline dating back to the 2009 bottom. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Armageddon Looms On The Horizon As The EURO UNION IMPLOSION Nears Posted: 16 May 2016 09:01 AM PDT History is testament that an ill-conceived fetus is doomed to a handicapped crippled adulthood. Thusly, many rational pundits perceive the hodge-podge jumbled union of many European nations, known as the Euro Union. But just as oil and water cannot be blended nor melded into a stable liquid, it logically follows that the haphazard mixture of many radically diverse nations are likewise immiscible…and will probably collapse in the not too distant future. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Gets Back on the Rally Tracks Posted: 16 May 2016 08:01 AM PDT This post Gold Gets Back on the Rally Tracks appeared first on Daily Reckoning. Good day, and a marvelous Monday to you! Well, we’re starting the week with the dollar a little softer that is was for most of last week. Front and center this morning, Fed member John Williams was quoted on TV this morning saying that he’s good things going on in the economy and believes there will be 2-3 more rate hikes this year. I’m surprised the dollar bugs aren’t going bananas over those words from Williams. But they aren’t, at least not right now. But the NY boys and girls haven’t arrived yet, so that might still come. And given the soft dollar this morning isn’t really showing a clear direction right now, so a change could come very easily. Gold is up nearly $11 ($10.70), as I write. The shiny metal had very difficult week last week, and words like those spoken by Williams this morning would have deep sixed the gold rally last week. But it’s a new week, folks! The U.S. Data Cupboard is sprinkled with a couple of real economic reports this week: Industrial Production tomorrow, and Leading Indicators on Thursday. Other than those, it’s a bunch of regional manufacturing indexes, and Housing numbers to fill in the gaps the rest of the week. And the stupid CPI prints tomorrow (I don’t care!) So. the sentiment in the currencies and metals this week could hinge on what is spoken.. And to that we have Fed members Kashkari speaking today, John Williams and Robert Kaplan tomorrow, and William Dudley on Thursday. So no shortage of hot air this week. And as far as Williams words about what he sees in the economy. Don’t you wonder if he’s the same Fed member that saw “green shoots” a few years ago? Keep telling us these things Fed members, and you know we’ll all go out and spend like there’s no tomorrow. NOT! We’ve been shanghaied before, but not again! Here’s one little piece of data that I’m sure Williams hasn’t seen. In the past decade there’s been a 14% drop in Manufacturing jobs. That’s right 14% drop! That’s according to the Bloomberg this morning! I read an article on Bloomberg and the writer of the article wrote that the director of currency strategy at Pioneer Investments believes that “given that this is an anti-globalization, anti-free trade strain that’s running through the American electorate, the strong dollar is going to be a potential victim. The markets will start to price in a risk premium for the U.S. dollar and for U.S. financial markets.” Hmmm… well that’s the first piece I’ve read that ties the election process to the dollar and the financial markets, which would be stocks and bonds. I’m sure there will be more, as this election process this year has the potential to be a lightning rod. The price of oil spiked in since Friday morning to the $47 handle! That was quite a push higher in the price of oil, and the petrol currencies are all enjoying life in the spotlight today, led by the Russian ruble, which is the best performing petrol currency, with the Norwegian krone in a tight second place. The national polls in the U.K. still show the BREXIT vote a toss-up (the vote is at the end of next month), but in a private poll that was run by the Global Traders Association, the majority of those polled wanted to leave the European Union (EU). This was a wide majority too, like 85%… And the news of this private poll has pound sterling on the selling blocks today. I was talking to the editor (Brian Maher) of the Daily Reckoning on Friday, and I said at that time I didn’t think the U.K. would leave the EU. Much like I said last year that I didn’t think Greece would leave the euro. But this private poll has me questioning myself. I don’t do that often, so this is a real problem for me! The Chinese renminbi was allowed to appreciate, albeit a very small amount, in the fixing overnight. Over the weekend China printed their latest (April) Industrial Production report, which printed at 6% year on year, with the consensus at 6.5%, so it did not meet expectations, but still a nice print given the slowness in the global economy. I also mentioned to the D.R. on Friday, that China is still attempting to generate a domestic demand economy, and this past weekend, China printed their April Retail Sales, which were up10.1%! Good show! The Aussie dollar (A$) is stronger this morning for one of the first times since the Reserve Bank of Australia (RBA) cut rates in the first week of the month. It’s been so long since the RBA cut rates that tonight they will print their meeting minutes. But since there’s been a Monetary Policy Statement (MPS) since then, the minutes should be an afterthought, but there might still be a nugget in there for the markets, one never knows. But all-in-all, I just don’t how the minutes could ruin the A$’s positive tone today. Last week we saw the Japanese yen fall back to trade with a 109 handle. But this morning, the yen has rallied back below the 109 figure. But the range is pretty narrow, I don’t think yen traders are committed to going either way with yen right now. The next Currency of the Month will be the Japanese yen. With the so-called Shanghai Accord, and Japanese leaders all screaming from the rooftops that they want yen weaker, it seemed to be a good time to talk about yen. The U.S. Treasury 10-year yield is dropping again. On Friday, it closed at 1.70%, and overnight it has touched 1.68% coming back to 1.71% right now. Bond traders are sending us a message about the June Fed meeting folks. Are you receiving it? The Bond Traders are telling us that there will be no rate hike in June. Can you believe that these bond yields are so low again? Well, I guess I can, given that I still believe that the U.S. economy is heading to Recessionville. And remember, these yields have been low for so long now that we have become comfortably numb with them. Hello? Is anybody in there? Just nod if you can hear me. Is there anyone at home? Yes, we’ve become comfortably numb with these low yields. What will happen when they aren’t low any longer? That day will come, but when? Ahhh grasshopper, that’s the question that has broken many a man who thought that the bond rally that has lasted for what seems to be forever now, was going to end tomorrow. I used to show a slide picture during presentations, that was a guy at a school like desk, looking like something just hit his head, and “!!!!!” Over his head. And I would say that’s a picture of me, banging my head on the desktop because I called for the bond bubble to pop, and then the Fed announced that they would begin Quantitative Easing/bond buying that would last five years, with three rounds and more than $4 trillion in bonds bought by the Fed. The G7 countries and their Finance Ministers will meet this week. And I hear that U.S. Treasury Sec. Lew, isn’t happy with China and Japan for what he believes is intentional weakening in recent weeks. I don’t think China or Japan is very much concerned with Jack Lew thinks. But I do think that the so-called Shanghai Accord has already lost its hold on what it set out to do, which was weaken the dollar, and allow currency appreciation in the renminbi, euro and even in the yen, which was unwanted by the Japanese. We’ve already seen some give back of these currencies to the dollar in the last week. So, the question is this: should the Fed hike rates in June? What do you think? I don’t think so. Look, they had the opportunity to hike rates a few times a couple of years ago, and passed on that, and now that the economy is slip-sliding away once again, they now want to hike rates. Too little, too late, is what I would say. I was more than a little surprised last week when a well-known and here unnamed think tank essentially said – the US Fed should ignore all that noise in the market and decide on their own where the economy stands and take action. After all they probably know better. That was the think tank talking not me. But I wish I had come up with that thought originally! And I do believe the think tank is being facetious! Well, gold was up $9 on Friday, as it seems to have bounced from the low on Friday morning after getting whacked a couple of times last week. I told you above that gold was up nearly $11 this morning, so that’s $20 in the past two trading sessions! Of course the price manipulators could take that $20 out in a heartbeat should they feel compelled to do so! The Short contracts in silver and gold continue to be added to. The days of production to cover the short ounces contracts, has risen to 220 in silver and 115 in gold. That’s a shame that this is allowed to continue. If production in these metals shut down tomorrow, what would happen to these short contracts? There obviously wouldn’t be any new metals to deliver in the short contract, so they would have to be closed out, and the crazy scene that would cause is beyond my imagination. The U.S. Data Cupboard on Friday, has the April Retail Sales. I had told you ahead of the print that the BHI indicated it would be a positive number and it was. And quite strong too! Printing at 1.3%, and less Gas and Autos up 0.6%. So, gas sales at gas stations and the sales of new cars were very strong in April. That’s a big difference from the March negative -0.3% print in Retail Sales. Last week I told you about the HUGE jump in Consumer Credit (read: debt) in March, and apparently that all didn’t get booked with the retailers until April. Well, Retail Sales may have been a blowout in April, but the Retailers are flat on their backs folks. This was on ZeroHedge this weekend. It’s brief, but to the point, and I think plays out with other Retailers that we’ll be hearing about:
Chuck again. Yes, this is the fate of the brick and mortar retailers. That’s it for today. I hope you have a marvelous Monday and be good to yourself! Regards, Chuck Butler P.S. Have you thought about investing in gold but don't know the best way to do it? Then you need to see the FREE special report we've produced called The 5 Best Ways to Own Gold. It answers all the questions you have. We'll send you your report immediately when you sign up for the free daily email edition of The Daily Reckoning. It combines hard-hitting information with charm and wit to bring you a unique perspective on the world. Click here now to sign up for FREE and claim your special report. The post Gold Gets Back on the Rally Tracks appeared first on Daily Reckoning. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Here's Why the Gold and Silver Futures Market Is Like a Rigged Casino... Posted: 16 May 2016 07:58 AM PDT Clint Siegner writes: A respectable number of Americans hold investments in gold and silver in one form or another. Some hold physical bullion, while others opt for indirect ownership via ETFs or other instruments. A very small minority speculate via the futures markets. But we frequently report on the futures markets – why exactly is that? | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Chaos In Venezuela, A Precursor For American Societal Collapse! Posted: 16 May 2016 07:51 AM PDT On this Sunday, May 15 edition of the Alex Jones Show, we cover remarks by a former lover of Bill Clinton that Hillary is a terrorist and Bill a sex addict. We also cover how Donald Trump may have masterfully played the entire media universe for fools and Israeli Prime Minister Benjamin Netanyahu's... [[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| CIA Whistleblower on the Sykes-Picot Agreement & Nakba Day Posted: 16 May 2016 07:14 AM PDT Afshin Rattansi goes underground on the day of catastrophe; Palestine's ambassador on Jeremy Corbyn's silence and John Kiriakou anti-torture whislteblower talks Iraq. Plus the impact of new laws on the homeless. 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! ]]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold depository could soon be on its way to Texas Posted: 16 May 2016 05:40 AM PDT By Anna M. Tinsley DALLAS -- Tarek Saab has a golden vision for Texas. Well, for a Texas Bullion Depository anyway. So he and his company -- Texas Precious Metals -- set up a booth at the Republican Party of Texas state convention in Dallas to tell Texans about it. "Texans as a group are some of the largest gold buyers in the world," said Saab, chief operating officer of the company. "The only options they have to store it right now are in a bank or their home." Saab's company, one of many interested in being involved with the state's plan to create a depository, proposes building a potentially $20 million facility -- with no Texas tax dollars -- on 40 acres of land it has in Shiner, about 250 miles south of Fort Worth. ... ... For the remainder of the report: http://www.star-telegram.com/news/politics-government/article77795702.ht... 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Central bankers' wisdom faulted as gold holdings surge 25% Posted: 16 May 2016 05:33 AM PDT By Ranjeetha Pakiam The great gold rush of 2016 is gathering pace. Holdings in exchange-traded funds have now surged by a quarter, with investors taking advantage of lower prices over the past two weeks to enlarge stakes on rising concern about central bank policy making worldwide. The holdings have increased to 1,822.3 metric tons, the most since December 2013, according to data compiled by Bloomberg, after bottoming at a seven-year low in January. In the past two weeks, as prices lost 1.6 percent, ETFs swelled 63.2 tons, rising every day. ... ... For the remainder of the report: http://www.bloomberg.com/news/articles/2016-05-16/the-25-jump-in-gold-ho... 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goldcorp Went Ahead and 'Made my Day' Posted: 16 May 2016 01:00 AM PDT Michael Ballanger expounds on the Goldcorp/Kaminak deal and what it means for the gold market, and he dissects the most recent COT report. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Mining Stocks - Getting A Heartbeat Posted: 14 May 2016 08:26 AM PDT PricewaterhouseCoopers LLP (PwC) has recently released their 48th annual British Columbia Mining Report. We all know commodity prices have been on a downward trend for the past five years. We also know several mines in the province have been put on care and maintenance and many early stage projects have seen their funding dry up. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold Speculation at All-Time High, but Gold Price Remains Below 2015 High Posted: 14 May 2016 01:00 AM PDT Technical analyst Jack Chan reports that although gold speculation is at an all-time high, the gold price has not followed suit. |
We can talk about technical charts, supply and demand fundamentals, and price manipulation, all of which point to significant increases in the value of gold and silver for the foreseeable future. But according to Golden Arrow Resources CEO Joseph Grosso, who is credited with the discovery of the largest silver deposit in history, the single biggest reason that retail investors, institutional players and governments around the world are gobbling up physical precious metals, resource stocks and ETF's at unprecedented levels is that they are scared to death of the state of the global economy and where it will go next…
– Hedge funds have taken a record net-long silver position – CFTC data shows
For many years we have warned of the dangers of derivatives. We were laughed at leading up to the 2008 financial debacle when Lehman broke and nearly took the entire system down. That turned out to be no laughing matter and here we are again at exactly the same situation where derivatives threaten to melt the financial system again. The difference now of course is the “saving ammunition” has already been spent where sovereign treasuries and central banks have destroyed their own balance sheets.
So much going on behind the scenes it’s truly incredible.
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