Thursday, May 26, 2016

Gold World News Flash

Gold World News Flash


TRUTH BOMB: The Saudis Turn On The Neocons, “The U.S. Blew Up World Trade Center To Create War On Terror”

Posted: 25 May 2016 07:42 PM PDT

by SGT, SGT Report.com:

We’ve been waiting a long time for this. 5,368 days to be exact.

It has been 14 years, 8 months, and 12 days since the Neocon Zionist monsters in the United States along with their partners in the crime, the Saudis and Israeli Mossad orchestrated the 9/11 false flag operation that murdered nearly 3,000 innocents. Just a few smoking guns of their heinous crimes include the free fall collapse of world trade center building 7, the statistical impossibility of the BBC reporting about it 25 minutes too early and Lucky Larry’s multi-billion dollar insurance payout for “acts of terror.”

The litany of evidence of the NWO’s dastardly deeds on 9/11 has been documented, catalogued and readied for trials. The true culprits have been identified. And if you want the exact names and details there is no better video to watch than this one: 9/11 Conspiracy Solved: Names, Connections and Details Exposed

What remains is for these evil men to be brought to justice and tried for their crimes against American law, the Constitution and humanity. We have long hoped that the day would come when these sinister evil doers would start turning on each other and the truth would begin spilling out.

Enter the 28 pages and the Saudis. Reportedly, the classified 28 pages of the 9/11 report implicate the Saudis for at least helping to fund the terror attacks, but those 28 pages conveniently make no mention of Israeli involvement in the planning and execution of the attacks that day. The dancing Mossad agents who were arrested, sent back to Israel after ten weeks and who then admitted on Israeli TV, “We were there to document the event“.

No mention of them.

The decision has been made to throw the Saudis under the bus for the event that has up to this point, been blamed solely on Muslims. But the official 9/11 fable is now in the process of collapsing like a house of cards, and that house of cards is now coming down as fast as WTC-7.

In my interview with Harley Schlanger on May 20th we discussed this in some detail. I told Harley, “all of this is being orchestrated to throw Saudi Arabia under the bus, whilst never mentioning Israel.” Harley’s response could not have been more prescient.

There’s an element to this, when you throw somebody under the bus, you always face the possibility that they’ll come out and tell the truth.” [You can listen to it at 4 minutes and 28 seconds into the interview.]

The 9/11 truth research community has the goods on these people. We KNOW what really happened and who is really responsible.  But what we have needed is for these rats to turn on each other on a global stage.

And today it began.

The Saudis have just dropped the biggest truth bomb since Putin exposed the Pentagon’s bogus war on Isis in Syria.

Breitbart reported today:

Saudi Press: U.S. Blew Up World Trade Center To Create 'War On Terror

The Saudi press is still furious over the U.S. Senate'sunanimous vote approving a bill that allows the families of 9/11 victims to sue Saudi Arabia. This time, the London-based Al-Hayat daily has claimed that the U.S. planned the attacks on the World Trade Center in order to create a global war on terror. 

The article, written by Saudi legal expert Katib al-Shammari and translated by MEMRI, claims that American threats to expose documents that prove Saudi involvement in the attacks are part of a long-standing U.S. policy that he calls "victory by means of archives."

Al-Shammari claims that the U.S. chooses to keep some cards close to its chest in order to use them at a later date. One example is choosing not to invade Iraq in the 1990s and keeping its leader, Saddam Hussein, alive to use as "a bargaining chip" against other Gulf States. Only once Shi'ism threatened to sweep the region did America act to get rid of Hussein "since they no longer saw him as an ace up their sleeve."

He claims that the 9/11 attacks were another such card, enabling the U.S. to blame whoever suited its needs at a particular time; first it blamed Al-Qaeda and the Taliban, then Saddam Hussein's regime in Iraq, and now Saudi Arabia.

September 11 is one of winning cards in the American archives, because all the wise people in the world who are experts on American policy and who analyze the images and the videos [of 9/11] agree unanimously that what happened in the [Twin] Towers was a purely American action, planned and carried out within the U.S. Proof of this is the sequence of continuous explosions that dramatically ripped through both buildings. … Expert structural engineers demolished them with explosives, while the planes crashing [into them] only gave the green light for the detonation – they were not the reason for the collapse. But the U.S. still spreads blame in all directions.

The intention of the attacks, writes al-Shammari in his conspiracy article, was to create "an obscure enemy – terrorism – which became what American presidents blamed for all their mistakes" and that would provide justification for any "dirty operation" in other countries.

—————

You can read the rest at Breitbart by clicking here.

But today, Monday, May 23rd is a day for all of those who care about TRUTH to remember.

The rats are fleeing the sinking ship of lies.  Let the trials of the real perpetrators of the 9/11 horrors begin.

SCAPEGOAT!

Posted: 25 May 2016 07:35 PM PDT

by Bill Holter, JS Mineset, SGT Report.com:

Have you ever wondered “who” would be blamed this time around? To this point, we speak about the “Lehman moment” when we look back at 2008. Of course it was not Lehman’s fault as they were forced, sacrificed or purposely destroyed, however you’d like to describe it. The way I saw it, the banking system needed an injection of capital, cheap capital and lots of it. The only way to get public funds was to “create” an emergency BEFORE the emergency became all engulfing, this is exactly what they did.

Now, some eight years and multiple $trillions later we are facing another “liquidity crunch”. It does not make sense that liquidity is scarce after all of the various QE’s but it is. The credit markets are very thin and trading even small pieces of credit has become hard work. The liquidity is just not there to support fully functional and liquid markets. The question now becomes, which financial donkey will have the tail of failure pinned on them?

I believe we have been getting the answer over just the last few weeks. My odds on guess is none other than Deutsche Bank, the largest or second largest derivatives monster on the planet. They have settled several cases recently including Libor, stock manipulation and for manipulating the London gold and silver fixes. I find it humorous as we were assured for so many years that gold and silver were THE ONLY things not being manipulated …how foolish of us to have thought such a thing?

As you know, DB is now offering 5% rates on 90 day money from it Brussels division. This makes no sense at all since they should be able to raise money in credit markets or from the ECB directly for nearly 0% or even negative …but for some reason they cannot. I have speculated Deutsche Bank has been “kicked out of the club” and their access to capital is being blocked. This may or may not be true but would make sense since they have agreed to turn state’s evidence and rat on other firms misdoings.

The latest, Deutsche Bank’s credit rating was downgraded to 2 notches above junk. This will obviously make it even more difficult to raise capital and certainly increase their costs for capital. I find this very curious because from a systemic standpoint, we now have a wobbling counter partner in the derivatives market with well over $50 trillion! How comfortable can those be on the other side of derivatives with Deutsche Bank? Are they (were they ever?) really “hedged” or not? Without a doubt, it will be better not to find out but that is only wishful thinking.

Another aspect is from the judicial side, it now appears the courts are going to allow civil suits against the banks collectively based on criminal acts. The obvious here is that the banks collectively do not have enough capital to settle all the claims that are sure to come. What I am saying here is this, the old “pay to play” model which worked so well for so long may be breaking. It may be that the “paying” part may end up as more expensive than the profits made from “playing”.

All of which… which leads me to an important conclusion, the “banks”, collectively, need the system to come down and they need someone to blame. The “someone to blame” part is obvious, but why do they need the entire system to come down? Think about this, if the collapse is systemic then no one individually (except Deutsche Bank?) will have fingers pointed at them. The next logical point is this, how will a court be able to find for plaintiffs if the banks are ALL broke? Can you really squeeze blood from a stone? And penalizing the banks, no matter what they did would certainly not be viewed as something “for the common good”.

Let’s face it, the system is coming down one way or the other. If you cannot see this yet then all I can say is “you don’t know that you don’t know” and good luck to you. If the banks have reached the point of no return, doesn’t it make sense to “control” the crash? Or at least the narrative? Doesn’t it make sense to be able to point a finger at one particular bank as the reason instead of admitting it is ALL the banks and the system itself that was flawed. It will be very interesting to see how this exactly unfolds but my money is on Deutsche Bank as the Lehmanesque scapegoat!

Speaking of scapegoats, I am sure you saw the Senate vote last week that “sovereigns” (think Saudi Arabia) can be sued civilly. The finger has been pointed at the Saudis for being complicit in 911. The Saudi press returned volley yesterday by claiming the U.S. government was complicit themselves Saudi Press Just Accused US Govt of Blowing Up World Trade Centers as Pretext to Perpetual War . I think what is being missed here is both the Saudis and the U.S. are moving away from the official (impossible) story. Neither now claim that 19 Arabs did this on their own!

Do you see the importance of this? “Truth”, (uncovered in these small portions) is slowly coming out via “truth bombs”. The official stories whether they be financial, political or geopolitical are having small shreds of truth added in. As I have said all along, I believe we will see the mother of all truth bombs dropped by Mr. Putin with an absolutely “shocked” China looking in. Any sort of truth bomb will have U.S. (Western) financial markets as the prime target… Can Western markets even survive the real truth?

This has been a public article, if you enjoyed this and would like to see all of our work please click here to subscribe

Standing watch,

Bill Holter
Holter-Sinclair collaboration
Comments welcome bholter@hotmail.com

An Inside Look at the World's Biggest Paper Gold Market

Posted: 25 May 2016 07:30 PM PDT

Every day, there are a whopping 5,500 tonnes ($212 billion) of gold traded in London, making it the largest wholesale and over-the-counter (OTC) market for gold in the world.

To put that in perspective, Visual Capitalist's Jeff Desjardins notes that  more gold is traded in London each day than what is stored at Fort Knox (4,176 tonnes). On a higher volume day, amounts closer to total U.S. gold reserves (8,133.5 tonnes) can change hands.

How is this possible?

The infographic below tells the story about gold’s foremost trading hub, as well as the paper gold market in London, England:

Courtesy of: Visual Capitalist

 

London is dominant in global price discovery for gold.

In 2015, it accounted for roughly 88% of gold trade – most of which occurs between banks on behalf of their clients. Further, 90% of London trade is spot trading, which further emphasizes London’s importance in price discovery for gold markets.

While the high-level details of the market are visible, the individual mechanisms behind the London gold trade are less clear. There is very little detailed information provided on physical shipments, outstanding gold deposits or loans, allocated or unallocated gold, or clientele types. Trade reporting also breaks down at a more granular level, and datasets on the GOFO (Gold Forward Offered Rate) were also discontinued in January, 2015.

Almost all gold (95%) traded in London is unallocated and without legal title. This makes it easier to trade, but it also raises concerns about a market that is opaque to begin with. There are 5,500 tonnes of paper gold exchanging hands on paper each day, but there are only 300 tonnes of gold vaulted in London outside of the reserves for ETFs or the Bank of England.

What would happen if there was ever even a small rush to get the physical asset behind the paper? Is there a system in place for such an event, and how does it work?

Original graphic by: BullionStar

Quantitative Easing And The Corruption Of Corporate America

Posted: 25 May 2016 07:00 PM PDT

Submitted by Danielle DiMartino Booth via DiMartinoBooth.com,

The art of brevity was not lost on Abraham Lincoln. It is that brevity in all its glory that shines through in what endures as one of the most beautiful testaments to the art of oration: The Gettysburg Address rounds out at 272 resounding words. The nation’s 16th President humbly predicted that the world would quickly forget his words of that November day in 1863. Rather, he said, history would solely evoke the valiant acts of men such as those whose blood still soaked the consecrated battleground on which they stood. Of course, Lincoln was both right and wrong. Neither the men who sacrificed their lives nor his words would be forgotten. We remember and know that a terrible and ever mounting price would ultimately be paid, some 623,026 American lives, the steepest in man’s bloody history.

In what can only be described as the pinnacle of prescience, a 28-year old Lincoln foretold of the coming Civil War, which he presaged would come to pass if the scourge of slavery remained unchecked. In an address to the Young Men’s Lyceum of Springfield, Illinois in January 1838, Lincoln spoke these haunting words: “If destruction be our lot, we must ourselves be its author and finisher.” The enemy within.

Since that devastating brother against brother Civil War, so prophetically foreseen by Lincoln, more than 626,000 American soldiers have lost their lives defending the ideals and freedom of our Union. Today that Union stands, but it must now face the threat of an enemy rising within its borders to wage a different kind of war against our hard fought freedom.

To be precise, today’s dangers emanate from our nation’s boardrooms, where officers and executives have authorized an era of reckless abandon in the form of share buybacks. In the event the word ‘hyperbolic’ just came to mind, the ramifications of a lost generation of investment in Corporate America should not be lightly dismissed. This trend, above all others, has weakened the foundation of U.S. long term economic growth.

The real question is whether those who have facilitated the malfeasance will be held accountable. Before the launch of the second iteration of quantitative easing (QE2) that the Fed voted to implement on November 3, 2010, Richard Fisher, to whom yours truly once answered, raised serious concerns. An October 7, 2010 speech before the Economic Club of Minneapolis was the venue.

The contextual backdrop is key: Just weeks before at Jackson Hole, Ben Bernanke had unleashed the mother of all stock market rallies by hinting that QE2 was indeed coming down the FOMC pipeline. The hawks were understandably hopping mad as the debate on the inside was anything but settled. Fisher indicated as much, albeit with notoriously diplomatic panache:

“In my darkest moments I have begun to wonder if the monetary accommodation we have already engineered might even be working in the wrong places. Far too many of the large corporations I survey that are committing to fixed investment report that the most effective way to deploy cheap money raised in the current bond markets or in the form of loans from banks, beyond buying in stock or expanding dividends, is to invest it abroad where taxes are lower and governments are more eager to please.”

Six years on, corporate leverage is hovering near a 12-year high and domestic capital expenditures have plunged. In the interim, reams of commentary have been devoted to share buybacks and with good reason. Companies reducing their share count have, at least in recent years, been where the hottest action is, courtyard-seat level action.

But now, it looks as if the trend is finally cresting. A fresh report by TrimTabs Investment Research found that companies have announced 35 percent less in buybacks through May 19th compared with the same period last year. And while $261.5 billion is still respectable (for the purpose of placating shareholders), it is nevertheless a steep decline from 2015’s $399.4 billion. Even this tempered number is deceiving – only half the number of firms have announced buybacks vs last year.

Have U.S. executives and their Boards of Directors finally found religion?

We can only hope. The devastation wrought by the multi-trillion-dollar buyback frenzy is what many of us learned in Econ 101 as the ‘opportunity cost,’ or the value of what’s been foregone. As yet, the value of lost investment opportunities remains a huge unknown.

In the event doing right by future generations does not suffice, executives might be motivated to renounce their errant ways because shareholders appear to have stopped rewarding buybacks. According to Marketwatch, an exchange traded fund that affords investors access to the most aggressive companies in the buyback arena is off 0.8 percent for the year and down 9.8 percent over the last 12 months.

The hope is that Corporate America is at the precipice of an investment binge that sparks economic activity that richly rewards those with patience over those with the burning need for instant gratification. The risk? That central bankers whisper sweet nothings the likes of which no Board or CFO can resist. Mario Draghi may already have done so.

In announcing its latest iteration of QE, the European Central Bank (ECB) added investment grade corporate bonds to the list of eligible securities that can satisfy its purchase commitment. Critically, U.S. multinationals with European operations are included among qualifying issuers. As Evergreen Gavekal’s David Hay recently pointed out, McDonald’s has jumped right into the pool, issuing five-year Euro-denominated paper at an interest rate of a barely discernible 0.45 percent.

Hay ventures further that the ECB’s program will have the welcome effect of mitigating the widening of the yield differential, or spread, between Treasurys and similar maturity U.S. corporate bonds the next time markets seize up. The firm’s chief investment officer takes one last step over the intellectual Rubicon with the following hypothesis, “The Fed might want to imitate the ECB but may be restricted from doing so by its charter,” Hay posits, adding that, “We wouldn’t discount the possibility it will try to amend, or get around, any prohibitions, however.”

Talk about sweet nothings on steroids. But could it really happen in a theoretical launch of (God forbid) QE4?

For the record, Hay is right. There is no explicit permission in the Federal Reserve Act that authorizes open market corporate bond purchases. Hay is also correct, however, that there could be legal wiggle room. This possibility was corroborated by Cumberland Advisors’ in-house central banking guru Bob Eisenbeis, who noted that the Fed’s emergency powers provision, when invoked, allows for purchases of almost any security, especially those that are not expressly disallowed in the Act’s language.

As for the prospect that politicians would put their foot down and insist that the Fed stand pat and not cross the line? What are the odds of that happening if the economic backdrop is dire enough for the subject of QE4 and open market corporate bond purchases to be matters of public debate?

Given markets’ maniacal machinations of late, the degree to which the economic data remain mixed, and the growing vocal consensus among Fed officials that June is a ‘go’ for a rate hike, it’s a safe bet that the details of QE4 will not be a focal point of the upcoming FOMC meeting.

When the time does come, and it’s sure to come before rates are normalized, Corporate America will hopefully be capable of resisting the temptation to play along. To bolster their resolve: Required reading on all CEO, CFO and Board officer bedside tables should be last November’s missive by Bank of America Merrill Lynch’s Michael Hartnett.

In it, the firm’s Chief Investment Strategist paraphrases Winston Churchill and how the great statesman would have described the risk of what Hartnett cleverly warns could be, ‘Quantitative Failure,’:

“Never in the field of monetary policy was so much gained by so few at the expense of so many.”

May those words be ones Janet Yellen lives by.

Hartnett then goes on to encapsulate the one statistic that should haunt the current generation of central bankers more than any other: For every one job created in the United States in the last decade, $296,000 has been spent on share buybacks.

Recall that the fair Chair is a labor market economist above any other field. Surely she will be able to see the damage past QE has wrought and forgo the facilitation of further bad behavior. Should she ignore the potential for further QE-financed share buybacks to exact more untold economic damage, it would be akin to intentionally corrupting Corporate America.

In the words that have mistakenly been attributed to Abraham Lincoln, arguably with sound reasoning: “Nearly all men can stand adversity, but if you want to test a man’s character, give him power.”

Since the turn of this century, debt-financed share buybacks have severely tested the character of those charged with growing publically-traded U.S. firms. The time, though, has come for these wayward companies’ banker and enabler, the Fed, to hold the line, no matter how difficult the next inevitable test of their character may prove to be. It’s time for the Fed to defend the entire Union and end a civil war that pits a chosen few against the economic freedom of the many.

In The News Today

Posted: 25 May 2016 06:20 PM PDT

Jim Sinclair’s Commentary Where gold is concerned as it travels it path to the physical market, China and Russia will set the price. China wants to set prices for the world’s commodities China has put the world's traditional financial centers on notice that it wants to develop its raw material markets as hubs for setting... Read more »

The post In The News Today appeared first on Jim Sinclair's Mineset.

THE BANKSTERS ARE RUNNING WILD STEALING FROM US ALL!

Posted: 25 May 2016 06:00 PM PDT

Bankers are at it again, using their unlimited power to steal from you. Markets are powering ahead, wiil they continue? What does the rest of the week look like? The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative...

[[ This is a content summary only. Visit http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]

"Someday We'll Be Microchipping All Of Our Children"

Posted: 25 May 2016 05:30 PM PDT

Submitted by Michael Snyder via The Economic Collapse blog,

Would you allow microchips to be surgically implanted in your children if that would keep them safer?  This is already being done to pets on a widespread basis, and a shocking local NBC News report is promoting the idea that if it is good for our pets, then we should be doing it to our children as well.  As you will see below, the report even puts a guilt trip on parents by asking them this question: “How far would you go to keep your children secure?” 

Of course most parents very much want to keep their children safe, and a microchip would enable authorities to track them down if they were lost or stolen.  But is this really a good idea?  And where is all of this technology eventually leading?  If you have not seen this very disturbing local NBC News report yet, you can view it right here

 

In the video, the reporter says that our children could be implanted with microchips “the size of a grain of rice” and that there would be “little to no health risks” involved.

And near the end of the report, she insists that “we could see those microchips in everyone” eventually.

Wow.

I am speechless.

The report also quoted an electronics expert who claimed that testing of these microchips “is being done right now”

The piece flips back to pushing the idea when it quotes electronics expert Stuart Lipoff, who asserts that microchipping children is safe and inevitable.

 

“People should be aware that testing is being done right now. The military is not only testing this out, but already utilizes its properties. It’s not a matter of if it will happen, but when,” states Lipoff.

Of course if widespread microchipping of the population does start happening, at first it will likely be purely voluntary.  But once enough of the population starts adopting the idea, it will be really easy for the government to make it mandatory.

Just imagine a world where physical cash was a thing of the past and you could not buy, sell, get a job or open a bank account without your government-issued microchip identification.

Will you allow yourself and your family to be chipped when that day arrives?

If not, how will you eat?

How will you survive?

What will you do when your children come crying to you for food?

I am certainly not saying that you should allow yourself to be chipped.  I know that nobody is ever chipping me.  But what I am saying is that people are going to be faced with some absolutely heart-breaking choices.

Gold Price Tumbled $5.10 (0.4%) to $1,223.80 and Made a New Low for the Move Today

Posted: 25 May 2016 05:29 PM PDT

25-May-16PriceChange% Change
Gold Price, $/oz1,223.80-5.10-0.42%
Silver Price, $/oz16.260.020.10%
Gold/Silver Ratio75.288-0.393-0.52%
Silver/Gold Ratio0.01330.00010.52%
Platinum994.20-9.50-0.95%
Palladium530.40-7.35-1.37%
S&P 5002,090.5414.480.70%
Dow17,851.51145.460.82%
Dow in GOLD $s301.543.701.24%
Dow in GOLD oz14.590.181.24%
Dow in SILVER oz1,098.227.810.72%
US Dollar Index95.34-0.24-0.25%

Sorry I missed y'all yesterday, but I was finishing my monthly paid subscription newsletter. 
I wonder if some of you U.K. readers would let me know briefly your assessment of the UK's likelihood of voting to leave the European Union? 

Stocks advanced again today after a yet stronger day today. Dow rose 145.46 today, 212.13 yesterday, and ended today at 17,851.51. S&P500 rose from 2,048.04 on Monday to 2,090.54 today. 
What's driving it? Beats me. Markets sometimes feed on themselves, & that is more true in these days of computer driven trading. 

I picked up an interesting fact off MarketWatch today. Last year's high occurred on 19 May, & the stock market has been lower ever since. There's only been one bull market since 1900 that corrected longer than one year. One more week and the 19 May 2015 high to present correction will be longer than that other long correction. Average length of hose corrections was 155 calendar days, the longest 379 days. As of today, this correction has lasted 372 days. 

Those 2015 highs were 18,312.39 on 19 May 2015 and for the S&P500 2,130.82 on 21 May 2015. 
US dollar index continues its sleepy correction. Today it lost 24 basis points (0.25%) to 95.34, dancing over 95.50 support. It climbs a bit, might have one good day, then stalls, stops, falls back. I'm beginning to wonder if it can pierce the 200 DMA at 96.64. 

Probably I alone among Westerners who can read & write do not believe the Fed will raise interest rates. First, I think they are too chicken-livered to do it, because they are afraid it will pull the flush chain on stocks. Second, as gutless academics they have pushed their envelope out where no envelope has ever gone before, so they have no idea what other mayhem an interest rate rise might catalyze. So like true bureaucrats, when scared they freeze. 

Gold price tumbled $5.10 (0.4%) to $1,223.80. Silver added 1.7¢ to 1625.5¢. Both made new lows for the move today. 

Silver crossed below it 50 DMA (1640¢) yesterday, & struck bottom at 1618¢ today. Here's the chart, http://schrts.co/EohjHY 

Likely targets include 1600¢ and 1550¢. Right now silver doth not appear eager to hit that lower target. 


Yesterday gold fell out of that uptrending range that has carried it since February (It had closed below the 50 DMA on Monday). Today's low came at $1,217.20. A stretch to $1,206 would correct 38.2% of gold's rise from December. Seems reasonable. 

Yesterday was my birthday. I turned 105. Look remarkably well-preserved for my age. 

I nearly choked chuckling at an NPR story not long ago about some Italian village with a large number of folks over 100. The experts went and examined what they eat and drank, etc. Turns out they eat lots of fats, drink wine every day (but not with breakfast), eat lots of rosemary, and smoke, smoke, smoke those cigarettes. The NPR-ites were fit to be tied. Reality refused to be shoehorned into their ideology. 

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.

Citigroup to pay $425 million to end CFTC benchmark probes

Posted: 25 May 2016 05:18 PM PDT

Matt Robinson and Matthew Leising
Bloomberg News
Wednesday, May 25, 2016

Citigroup Inc. will pay $425 million to resolve U.S. Commodity Futures Trading Commission claims that the bank attempted to manipulate global benchmarks for interest-rate products multiple times from 2007 to 2012.

The CFTC announced two settlements Wednesday with New York-based Citigroup over allegations involving the ISDAfix, as well as London and Tokyo benchmarks.

Citigroup will pay $250 million over allegations tied to ISDAfix, a global interest-rate benchmark used by banks, and $175 million for alleged abuses linked to the London Interbank offered rate, the regulator said in two separate statements.

The allegations demonstrate that "we will vigorously continue to investigate any efforts to manipulate financial benchmarks, and we will take action where possible to protect the integrity of these benchmarks," said Aitan Goelman, the CFTC's director of enforcement.

The CFTC also said Citigroup tried to influence U.S. Treasury securities because prices of the government debt were used as a factor to set the ISDAfix rates each day. The CFTC said it had electronic communications from Citibank traders where they said it was "suprising[ly] easy to push" the rate near the 11 a.m. fixing time. ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-05-25/citibank-to-pay-425-mi...



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Nick Barisheff: The billionaires are wrong on gold

Posted: 25 May 2016 05:01 PM PDT

8p ET Wednesday, May 25, 2016

Dear Friend of GATA and Gold:

Nick Barisheff, founder of Bullion Management Group in Markham, Ontario, today laments that some prominent billionaires who advocate gold ownership have put their money not into real metal but into shares of exchange-traded funds whose claim to metal is dodgy at best. Barisheff's commentary is headlined "The Billionaires Are Wrong on Gold" and it's posted at Bullion Management Group's Internet site here:

http://bmgbullion.com/billionaires-are-wrong-on-gold/

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



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Support GATA by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

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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:

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To contribute to GATA, please visit:

http://www.gata.org/node/16

Short Message From Benjamin Fulford - May 25, 2016

Posted: 25 May 2016 04:30 PM PDT

May 25, 2016 Short Message From Benjamin Fulford http://benjaminfulford.net The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

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Paul Craig Roberts Warns Of Economic Collapse, Massive Social Instability, Nuclear War

Posted: 25 May 2016 04:00 PM PDT

Dr. Paul Craig Roberts Assistant Secretary of the US Treasury Dr. ...

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Fed Raising Interest Rates in June? Marc Faber Says No, Is Bullish on Gold and Oil Stocks

Posted: 25 May 2016 04:00 PM PDT

The Gold Report

Full Speech: Donald Trump Holds Rally in Anaheim, CA (5-25-16)

Posted: 25 May 2016 03:30 PM PDT

Wednesday, May 25, 2016: Full replay of the Donald J. Trump for President rally in Anaheim, CA at the Anaheim Convention Center. Full Speech: Donald Trump Holds Rally in Anaheim, CA (5-25-16) The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists ,...

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GERALD CELENTE EXPOSES THE NEW MEXICO TRUMP RIOTS

Posted: 25 May 2016 03:00 PM PDT

Gerald Celente joins Gary Franchi to breakdown the facts behind the violent New Mexico Donald Trump rally riots. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers ,...

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Get in on the Ground Floor of a New Bull Market…

Posted: 25 May 2016 01:51 PM PDT

This post Get in on the Ground Floor of a New Bull Market… appeared first on Daily Reckoning.

The price for gold — and shares in gold miners — has taken a beating the last five years. You and I have lived through a painful and seemingly endless bear market. For several years, we've had little upside news about gold, silver and precious metal miners.

After a long, downward slide, however, gold prices have finally begun to climb higher. Right now is the perfect time to get back into gold and silver investments. And we have four recommendations to get you in on the ground floor.

Jim often speaks about gold moving to $10,000 per ounce or more. Most people just roll their eyes. They assume that it's a made-up number or that he pulled it out of thin air. Actually, $10,000 is the result of some pretty straightforward math.

Here's the five-year price chart for gold to illustrate where we've been. Let's follow these graphic facts:

5YearGoldChart

From a high near $1,900 per ounce back in 2011, gold prices steadily drifted downward until about December 2015, to under $1,100. Then in January of this year, the curve turned around.

What happened?

Like Jim says, when we're talking about the price of gold, we're really talking about the dollar price of gold. A lower price in gold simply means the dollar is strong enough that you can buy the same amount of gold with fewer dollars. In December 2015, the U.S. raised interest rates, just like they'd said they would. This resulted in a stronger dollar and suffering U.S. economy.

Realizing their error, the Federal Reserve announced they wouldn't raise rates again in March (a form of ease). The dollar stopped getting stronger and the downward drift of gold halted.

Then, on Jan. 20, Bank of Japan issued a report saying they were initiating negative rates and triggered gold's latest upward march. Negative interest rates were an attempt to kick-start the economy by incentivizing people to spend their money, since they'd lose money by saving it in banks. I recall seeing that report. My first thought was: That's nuts. People will stuff mattresses with cash and buy gold.

I was right. In January, gold prices began to climb, taking silver along for the ride. There was a run on safes in Japan so that people could store large amounts of cash and precious metals at home and avoid negative interest rates.

As gold and silver prices rose, mining shares soared across the world. Many major, intermediate and junior firms benefited. Long-suffering, die-hard precious metal investors enjoyed a pleasant winter and spring.

But does the price upswing of the past few months mean that we're in for a new, longer-term era of strength in gold? Will higher gold prices support better returns for mining shares and related investments?

Yes. Here's why…

Based on Jim's analysis, the economic elites of the world want inflation, and they're going to get it — one way or another. Rising inflation on a global scale will mean that currencies are worth less, so it will take more of any given currency to buy the same amount of gold.

Plus, everything that made the 2008 market crash so painful is even worse today. Consider the long-running drama of too much private and government debt (the same debt the government is hoping to erase with their manufactured inflation), "too big to fail" banks (just take a look at Nomi's article), derivatives, fake-financial engineering by large companies and dodgy loans for housing, cars and college tuition.

These financial and monetary problems aren't limited to the U.S., or even advanced economies like Europe and Japan. Entire regions across the world are in dire economic distress and mired in economic uncertainty.

What do people buy in times of economic uncertainty? Gold.

Last fall, the dollar got stronger and the price of commodities crashed. Earnings at almost all energy companies have fallen through the floor. Major companies like Exxon Mobil, Chevron, Shell and many more have been downgraded by credit rating agencies. Most coal companies are bankrupt. What was once a strong point of the North American economy is now weak.

Now think back to 2011 and high-priced oil from the Middle East, West Africa, Brazil and more. Or solidly priced commodities like iron ore from Brazil and South Africa. Or agricultural commodities like coffee, chocolate and soybeans from places as far afield as Ivory Coast, Vietnam and Argentina. If you were a commodity exporter, your existence was la vie deluxe.

That 2011-era commodity-energy windfall is not the case anymore. Far from it. Indeed, most globally traded commodities are currently in price doldrums. Because of that, many commodity-exporting, emerging-market nations are all but insolvent.

A broad cash flow crisis has hit the whole world due to low prices for emerging market commodities. This is why countries will be onboard with the plan Jim outlined for global inflation. They all desperately need their commodity export prices to go back up to stoke economic growth.

This is the perfect time to get back into precious metal. Gold is due for a new, upward run. And in my opinion, gold miners are going to be the most profitable way to take advantage of the rising price of gold and precious metals. That said, while gold mining stocks follow gold to a great extent, but they're more volatile.

Jim has described gold mining stocks as a leveraged bet on the physical metal: When gold goes up, mining stocks go up even more. But when gold goes down, mining stocks may fall faster than the metal itself.

Best wishes,

Byron King
for The Daily Reckoning

P.S. The Federal Reserve is determined to drive down the dollar. And owning gold is the best way to preserve your wealth against a depreciating dollar. That's why we've produced a FREE special report called The 5 Best Ways to Own Gold. We'll send it to you 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 Get in on the Ground Floor of a New Bull Market… appeared first on Daily Reckoning.

Time to Raise the White Flag at Gualfin?

Posted: 25 May 2016 01:34 PM PDT

This post Time to Raise the White Flag at Gualfin? appeared first on Daily Reckoning.

BALTIMORE, Maryland – We are all originarios

There were two newsworthy developments last week, neither of them really important – the first because it won't happen, the second because it won't matter.

First, the Fed let it be known that it has "normalcy" once again in its sights.

"Prospect of rate rise grows as U.S. moves closer to passing Fed tests," reported the Financial Times on Monday.

As we know, the Fed can't return to normal because normal includes a correction on Wall Street – the very thing it has worked so desperately and recklessly to avoid. Mark our words: The Fed will never willingly return to normal, market-discovered interest rates.

Second, barring a major surprise, Donald Trump sewed up the Republican nomination. Many readers are counting on The Donald to "Make America Great Again." Alas, it won't be that easy.

Voters can do what they want; the important decisions are made by the unelected elite of the Deep State. Ron Unz described how it worked in 2012:

The sweeping victory of […] Barack Obama, represented more a repudiation of Bush and his policies than anything else, and leading political activists, left and right alike, characterized Obama as Bush's absolute antithesis, both in background and in ideology. This sentiment was certainly shared abroad, with Obama being selected for the Nobel Peace Prize just months after entering office, based on the widespread assumption that he was certain to reverse most of the policies of his detested predecessor and restore America to sanity.
 
Yet almost none of these reversals took place. Instead, the continuity of administration policy has been so complete and so obvious that many critics now routinely speak of the Bush/Obama administration.

Trump's nomination is clearly a repudiation of the Bush/Obama administration… and the Deep State itself. But who cares what the voters want?

Evil or Dumb?

But let us return to the mountains of Northwest Argentina… where several dear readers have sided with theoriginarios. One French reader:

I hope they will win // maybe you can give them half of your sandy ranch and everybody will be happy… You say the "law" is on your side. But you know the law is always on the side of the rich.
 
You should just give them all your RANCH…

Several noted that they thought it was "greedy" of us to try to hold onto the land we paid for. None, however, volunteered to return his own land to the Cheyenne, the Chippewa, or the Cherokee originarios of North America.

But wait. We're all originarios

More than 100 years after the Native Americans of the Calchaqui Valley had been dispossessed, the Scots were losing their land to the English. Our family got its start in America when Seamus McCeney was captured at the Battle of Culloden… shipped to the New World… and sold into indentured servitude on Kent Island, in the Chesapeake Bay.  What happened to his ancestral land in Scotland?

But  reader sentiment was about evenly split. Half thought we were evil. The other half thought we were just dumb. We're not sure ourselves…

"Yeah, Dad," added one of our own children. "You should just give it to them. Ha ha… It would be better for us if you stopped spending your money down there."

Looking at it selfishly, this is a battle that his father would be better off losing. As it is, he has the privilege of paying seven salaries… property taxes… equipment, fuel, and maintenance… with almost no hope of ever turning a profit.

The originarios are trying to drive him off. If he had any sense, he would raise the white flag.

It would serve them right.

Welfare Programs Never Work

And now this update from our lawyer:

The activists were paid by the government to cause trouble. They don't really want the land. They've already got plenty of land. And what would they do with it? They've already got thousands of mountain cattle and goats that they can't sell. This is just a political shakedown.
 
The originarios barricaded the road to [the upper pasture]. They claim we abandoned the land. They have some sort of government decree signed by a guy who worked for the Kirchner government. They say it gives them the right to the pasture. But it was signed a month after he was fired. Very strange. And we just took the cows off the pasture two months ago. Because of the drought, there was nothing for them to eat.
 
We're getting to the bottom of it… but it's taking time. The important thing is that the new government isn't supporting these activists anymore.

"Dad…" a canny son continues, "you know welfare programs don't work. But that's what you've got there… a private welfare program.

"You improved the church. You bought miles of pipe so they could have running water in their houses. You bought that backhoe and two tractors and other equipment. You fixed the roads. You give out scholarships. You pay those salaries, even though you don't really need that many workers. You lose money every year…

"You claim to be ranching, but you're really just redistributing money. From us to them. The whole thing is absurd. You charge them rent – a couple goats and a skinny cow. Then, you can't do anything with the animals… so you allow them to give you a few pesos instead. After inflation, you get about 70 cents a year, total, for a house and a farm. And if they don't pay, you can't do anything about it anyway.

"And now, instead of thanking you… they rebel against you. But what do you expect? Welfare programs never work. Give people something for nothing and they hate you because you make them feel inferior."

Maybe he's right. We're going back to Scotland! At least, there's water there.

Regards,

Bill Bonner
for Bonner and Partners

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 Time to Raise the White Flag at Gualfin? appeared first on Daily Reckoning.

Gold Daily and Silver Weekly Charts - Option Expiration Completed

Posted: 25 May 2016 01:18 PM PDT

How NOT to Invest in the Gold Market

Posted: 25 May 2016 11:36 AM PDT

Gold Stock Bull

Oil Price Jumps Closer to $50

Posted: 25 May 2016 09:57 AM PDT

This post Oil Price Jumps Closer to $50 appeared first on Daily Reckoning.

And now… today's Pfennig for your thoughts…

Good day, and a wonderful Wednesday to you! 

The dollar has backed off of some of its mighty swings against the currencies overnight, but the green/peachback is still in the batter’s box looking to go yard against the precious metals this morning. The metals performance is very ugly in the last week. I don’t know how else to say that, and I sure don’t want to sugar coat it!  So, let’s go through the roundup of things that happened since yesterday morning, and see what shakes out of them.

Let’s start with the price of oil. It jumped through the $48 handle and is trading this morning with a $49 handle! This move came after it was reported that there was a larger than expected decline in U.S. crude inventories last week. The American Petroleum Institute said yesterday that its data for last week showed a 5.1 million-barrel decrease in crude supplies. So, like I told your earlier this week, that the price of oil looks hell-bent and whiskey bound to get to $50 this summer. Our friends over at OPEC (NOT!) say that they see the price of oil recovering to $65! The head of the OPEC believes that the price of oil has “not been trading at a fair price” and believes $65 is more like it.

The currency that moves with the price of oil step for step is the Russian ruble, and the ruble traders have taken the currency for a ride on the rally tracks overnight. This currency is the proxy for oil in my opinion. And if the price of oil is going to $65, as the OPEC head has suggested, then the ruble is going to be in high demand. But if the OPEC leader is just blowing smoke in the markets ears, then we’ll probably see the ruble bounce back and forth with the price of oil just like it has for the last couple of years.

Yesterday we saw good stuff from the German ZEW reports, and today we get more of the same good stuff from the Business Sentiment Indicator (optimism) as measured by the think tank IFO, which saw its May index number rise one full point to 107.7 from 106.7 the previous month. A rise to only 106.8 was the consensus, so this data beat expectations by a wide margin, and one would expect the euro to respond favorably. And it has, although the rise has been muted by the news that the IMF, Eurozone and Greece have kicked the can down the road even further.

I went through this “give Greece a loan to pay their current loan payment” thinking in the Eurozone, on Monday, and I really don’t feel like going through it again, because, well, I can’t believe that anyone believes this is a good thing, other than it keeps the markets from going bonkers again. I did see this though, and thought: Boy, I’m sure glad I read this, I don’t know that I would have made it through the day without this information. Here it is: “The Eurozone finance ministers said that Greece had done what was necessary to unlock the next slice of financial aid.” Of course I could have tons of fun thinking of what it was that Greece “had done”.

The Bank of Canada (BOC) meets today. I told you Monday that I believe that rates will remain unchanged here, but that Poloz would probably take his best shot at knocking the loonie from its currency perch. But the rise in the price of oil has taken loonie traders down a different path so far this morning, and that is to mark up the loonie, and not worry about Poloz does or doesn’t say later today.

The Norwegian krone which gets tarred with the same brush as the euro all too often, is seeing a double dose of underpinning from the price of oil and the euro mini-rally this morning. Things for both the Norwegian krone and Swedish krona haven’t been fun for the last four years, especially in the last two years with the huge slide in oil prices, and the global economic slowdown (the lines to buy a Volvo have shrunk, but those IKEA stores sure have the U.S.’s attention!). I always view these two currencies as euro-alternatives, and think that one day, traders will wake up, do a V-8 head slap and realize what big dolts they have been, tarring these two with the same brush as they use on the euro.

Both the Aussie dollar (A$) and New Zealand dollar/kiwi, are rallying this morning. And one wonders why. The New Zealand April Trade deficit widened, and the Aussie Construction data for the first quarter showed a drop of -2.6%, which doesn’t bode well for tomorrow’s print of CAPEX (capital expenditures) and that won’t help the A$ avoid more talk of additional rate cuts. But the two are rallying this morning, so don’t call attention to it, Chuck! Leave it alone! Just move along, there’s nothing to see here…

In Singapore, first QTR GDP was revised upward to 0.2% from 0.0%, but the year on year increase  of 1.8% remains the same. the upward revision is not exactly something you would see under the heading of “strong” and so I think the Monetary Authority of Singapore (MAS) was correct last month in lowering their trading band for the Sing dollar.

The world is in need of a new hoola-hoop, badly, folks. Other than war, that is.

The Japanese yen has dropped back to 110 handle (in April it was 106!) and it looks like BOJ Gov. Kuroda, will get his wish and see yen continue to weaken. The Boys and Girls at Goldman Sachs AKA Lola, believe that yen should be trading closer to 133 (I would agree), and think that the BOJ will do what they can to see an orderly drop to 120 by year-end, and 125 next year at this time. Yen has been one of the best performing currencies vs. the dollar this year, but that wasn’t going to last, not with Japan’s fundamentals, folks.

And the Chinese renminbi was weakened in the overnight fixing. The Peoples Bank of China (PBOC) has to be discouraged by the strength of the dollar, given if they had their druthers the PBOC would prefer to see a steady rate exchange against the dollar. And that’s not what they are getting in any stretch of the imagination!

I was having a brief conversation with Chris Gaffney yesterday about China, and I pointed out that I think all the Chinese would have to do is to call the White House and say, “if your Fed hikes rates in June, we will devalue the renminbi again, and you know how much that gyrated the markets a couple of months ago” and soon we would be hearing the Fed members singing a different tune. But I think the Chinese like doing things differently, and would more prefer to surprise the markets with a devaluation, if the Fed does hike rates next month.

The U.S. Data Cupboard has the Monthly Trade Balance for us today. and that’s about it. Yesterday saw New Home Sales skyrocket in April. Just pumping more air in the bubble as far as I’m concerned. But then nobody is talking about it except me, so maybe it’s just me that sees this, or maybe I’m not seeing anything, and I’m barking up the wrong tree. I guess we’ll have to wait-n-see. When I wrote about the housing bubble the first time in 2003, it took a few years before it became clear to everyone what was going on.

Gold is getting whacked daily now it seems. So much for the rally in gold in 2016. or so it seems. Maybe this is just giving those that missed out, a chance to buy before it takes off again. Maybe, maybe I’m wrong, to go on thinking, to sing my song. Maybe this world’s falling down. And maybe I don’t need to be quoting any lyrics by the Blue Jays! Anyway, gold got whacked by more than $21 yesterday, and is down another $7 this morning. In December when it appeared that the Fed would hike rates gold suffered, until the actual rate hike occurred, and then gold rallied. Could this be a repeat of that scenario?

Did you see the comments by former IMF economist Ken Rogoff regarding gold? This is good. Rogoff, who is now a Harvard economics professor, is recommending that countries diversify out of government bonds and into gold. “With bond yields effectively at zero or below, there’s nothing to be gained through the purchase of such bonds, while gold is a “low-risk” asset that offers the possibility of capital appreciation”. Rogoff has written some very interesting pieces while he was at the IMF, and I didn’t always agree with him, but I sure do on this thought!

On a sidebar here… I just read on Ed Steer’s letter that the world’s biggest banks have shed about one in three bond traders since 2011.  Yikes. As most of you know I used to be a foreign bond trader. It’s a fraternity, close knit at that, bond traders. I hate to see this because it’s all being blamed on all the new regulations and rules..

Well, there are more than a few countries that are ahead of the curve when it comes to buying gold, and I’ve talked about them over and over again the past couple of years. One of those countries ahead of the curve with regards to buying gold is Russia, and this article chronicles the latest news about Russia’s gold buying, and can be found here, or here’s your snippet:

The Russian central bank is continuing to buy gold at a faster rate than China with a purchase of 500,000 ounces (15.6 tonnes) of gold in April according to figures put out on Friday.  The amount is interesting as it the same sized addition as in the previous month and while the February increase was smaller at 9.3 tonnes, January was larger at 21.8 tonnes so the increase for January and February combined was thus at the equivalent of 15.6 tonnes a month. Does this now mean that the Russian central bank has set itself a gold reserve increase target of 500,000 ounces (15.6 tonnes) a month.  If this rate of buying persists through the year then it could be that it is aiming to build its reserves by 187 tonnes in 2016.

Russia has thus been buying significantly more gold than the No. 2 buyer China so far this year with purchases totaling 62 tonnes so far against the 46 tonnes so far reported by The Peoples Bank of China.  If both continue purchases at the current rate that would suggest an increase of central bank gold holdings from these two countries alone of over 320 tonnes.

Chuck again. Pretty amazing the amounts of gold that both China and Russia have accumulated in recent years. And you know my old call that you should always follow the money.

I’ll get out of your hair for today, and hope that you have a wonderful Wednesday! Be good to yourself!

Regards,

Chuck Butler
for The Daily Pfennig

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 Oil Price Jumps Closer to $50 appeared first on Daily Reckoning.

Paul Brodsky: The monetary system has devalued 47% in 10 years

Posted: 25 May 2016 07:02 AM PDT

10a ET Wednesday, May 25, 2016

Dear Friend of GATA and Gold:

The world's currencies have been steadily devaluing against gold over the last decade, economist and fund manager Paul Brodsky of Macro-Allocation.com writes in his new study, and he expects such devaluation to continue and increase under the coordination of monetary authorities, which will nevertheless pretend that they are doing no such thing.

In any such endeavor and all their other endeavors the monetary authorities will be powerfully assisted by the agreement of mainstream financial news organizations never to ask them any critical question about their largely surreptitious interventions in the markets.

Brodsky's study is headlined "The Global Monetary System Has Devalued 47% over the Last 10 Years" and it's posted at Zero Hedge here:

http://www.zerohedge.com/news/2016-05-24/global-monetary-system-has-deva...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



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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:

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To contribute to GATA, please visit:

http://www.gata.org/node/16

China wants to set prices for the world's commodities

Posted: 25 May 2016 06:35 AM PDT

From Bloomberg News
Wednesday, May 25, 2016

China has put the world's traditional financial centers on notice that it wants to develop its raw material markets as hubs for setting prices, seeking to marry the country's commercial heft with a much greater say in determining how much commodities cost.

"We're facing a chance of a lifetime to become a global pricing center for commodities," Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said at the Shanghai Futures Exchange's annual conference in the city on Wednesday. "On the way to realize this goal, we'll see very intense competition. We have the advantage of trading size and economic growth, but our legislation is still not sound and we lack enough talent." ...

... For the remainder of the report:

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Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

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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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16

Venezuela fights crisis with biggest sovereign gold sale since 2007

Posted: 25 May 2016 06:19 AM PDT

By Ranjeetha Pakiam and Eddie Van Der Walt
Bloomberg News
Wednesday, May 25, 2016

Venezuela held the biggest gold sale by a central bank in eight years as the country's economic crisis deepened and the government faced concern that it may struggle to honor bond payments.

The country cut its gold reserves by 16 percent in the first quarter, following a 24-percent reduction in 2015, according to data from the International Monetary Fund. The quarterly sale was the largest by any central bank since Switzerland sold 3.2 million ounces in the third quarter of 2007. ...

... For the remainder of the report:

http://www.bloomberg.com/news/articles/2016-05-25/venezuela-s-gold-holdi...



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The Gold Mine Barrick Might Regret Having Sold


K92 Mining is poised for production at its Papua New Guinea gold project and has just listed on the Toronto Venture exchange under the symbol KNT.V.

The gold mining startup came together during one of the toughest periods in mining history.

K92's main asset is the Kainantu project, a large high-grade gold resource with extensive infrastructure including underground mine development, a mill processing facility, a fully permitted tailings pond, and paved roads. The infrastructure means K92 can aim to restart mining in the near term with minimal capital costs and seek to grow through cash-flow funded exploration on the roughly 405-square kilometer property, considered prospective for additional discoveries.

For more information, please visit:

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Why Is This Multibillionaire Betting on a Market Collapse?

Posted: 25 May 2016 06:11 AM PDT

This post Why Is This Multibillionaire Betting on a Market Collapse? appeared first on Daily Reckoning.

Editor's note: Today, guest editor and trend follower extraordinaire Michael Covel shares why some of the smartest investors in the world are betting on a stock market collapse. But don't worry – Michael can show you how you can still rake in the gains… even if the market does hit the skids.

Read on for the details…

Carl Icahn is a modern day E.F. Hutton.

When he talks, people listen.

More important, when he invests, people follow.

That's because the legendary activist investor has amassed a personal fortune north of $25 billion.

So why is his latest position making Wall Street banksters crap their pants?

Well, a recent disclosure of Icahn's investments reveals he's placed a massive bet on a stock market collapse.

Here's why this storied investor is so insanely bearish…

Financial Reckoning Day

Just recently, Icahn took to the airwaves of CNBC to declare that a "day of reckoning" was coming for the U.S. stock market.

He said exceedingly low interest rates from the Fed have created a huge artificial asset price bubble that can't be justified by the underlying economy.

He thinks it's about to burst.

And he's put a whole lot of money where his mouth is…

Zerohedge recently reported that Icahn’s investment vehicle, Icahn Enterprises LP (in which he has $4 billion personally invested), has an historic 150% net short position.

This means his portfolio will see a big increase in value if the stock market craters.

It's extraordinarily rare to see a fund outside a dedicated short fund with such a large bearish stance. Icahn reminds me of Michael Burry in the film "The Big Short," and we all know how he did in 2008.

Look, just one year ago, Icahn was still 4% long the stock market when he first started expressing deep concern about valuations.

But since then he's waged billions of his own money on a massive bet to short the market.

That's stunning.

But Icahn's not the only legendary investor who thinks a collapse is coming.

Stanley Druckenmiller is one of the world's most successful hedge fund managers. He generated an incredible 30% average annual return for clients from 1986 to 2010.

And just last week, Druckenmiller told attendees at the Sohn Investment Conference to "get out of the stock market" and own gold, which is his family office's largest currency allocation.

So are these two investing wizards correct? Is the market headed for an epic fall?

I have no idea. And neither does anyone else. There are no legitimate stock market fortune-tellers… only the illegitimate ones you see blathering on CNBC.

But ask yourself a question…

If the smartest moneymen in the world are betting big on a huge market decline, what's your best strategy right now?

Is it smart to just be sitting in stocks right now… holding on and hoping for the best… trusting your mutual fund manager who has never beaten the market once?

How did that work out during the last crash?

And the one before that?

Remember, a 50% decline in your portfolio requires a 100% return just to get to breakeven.

During the dot-com bubble implosion, the Nasdaq dropped 77%.

It could take years or even decades for you to recover from the next crash. Or you may never recover.

So just being long stocks right now and holding on for dear life isn't a sound strategy for such an uncertain environment.

There's a better option…

If you just follow the trend, you'll be ready to profit, regardless if Icahn and Druckenmiller are right or wrong.

And you'll sleep much better at night.

My Conversation With Ben Hunt

Dr. Ben Hunt knows the perils of "buy and hold" investing extremely well.

I recently spoke with him on my podcast.

He's the Chief Risk Officer at Salient Partners and the author of "Epsilon Theory," a unique take on markets and investing that's grounded in game theory, history and behavioral analysis.

Ben brings a deep understanding of economics, politics, international relations, state power and human nature to his work.

And what he's discovered is that following a "buy and hold" philosophy with knowledge of how central banks function and how the political class operates is nothing short of insane.

Here's what you'll learn in today's podcast…

*Why "buy and hold" stocks are shockingly bad performers in our current environment

  • Why the U.S. national debt can never be repaid
  • How trusting the Fed's models can make you broke
  • Why a "very traumatic day" is coming to America
  • And much more…

Click here to listen to my conversation with Ben Hunt.

Sincerely,

Greg Guenthner
for The Daily Reckoning

P.S. Rake in gains even if the market is on the skids–sign up for my Rude Awakening e-letter, for FREE, right here. Stop missing out on the next big trend. Click here now to sign up for FREE.

The post Why Is This Multibillionaire Betting on a Market Collapse? appeared first on Daily Reckoning.

"Gold and Silver Bottom Is In" - Silver Guru tells Max Keiser

Posted: 25 May 2016 02:52 AM PDT

“Gold and silver bottom is in”, renowned silver analyst David Morgan tells Max Keiser on the Keiser Report and warns about paper and digital proxies for money and gold. Morgan, also known as the ‘Silver Guru’ of the TheMorganReport.com, talks to Max about the gold, silver and global bond markets and the ponzi scheme that are these markets.

US Dollar, Back From the Grave?

Posted: 25 May 2016 02:46 AM PDT

We’ll be leaving for home sometime tomorrow afternoon so I won’t be able to do a Wednesday Report. By the movements in the markets, today is actually a better day to do a Wednesday Report. There are several times a year when the markets gives you an important inflection point. Today I believe we just witnessed one in regards to the PM complex, the US dollar and the stock markets. Even though the US dollar didn’t have an extremely big up day it did show its hand by breaking out of a downtrend channel while the PM complex had a tougher day breaking down from a small topping pattern we looked at earlier today. Also the stock markets had a very good day to the upside with some completing small double bottoms or falling wedges.

Gold : Just the Facts Ma’am

Posted: 25 May 2016 02:30 AM PDT

It wasn’t much, a bit less than 4 tons to be exact, but today marked the first day in nearly a month that GLD reported a drawdown in gold holdings. The last such occurrence was all the way back on April 25. Considering the amount of gold that has been added since that time (66 tons), a 4 ton reduction is minor. What we will not want to see however is a PATTERN of falling reported gold holdings. That has been the one bright spot for gold that has held steady even in the face of weakness on the gold chart at the Comex. If this changes, then we have an issue.

SPX, GDX and GLD: All Ready to Rollover?

Posted: 25 May 2016 02:13 AM PDT

Death Crosses Across The Board Are IRREFUTABLE Last week, I was looking for a big drop for the gold complex into May 19. We got a huge drop, but not the drop I was looking for. It seems gold is working out a 25- week low while GDX is trying to run 21 weeks to its low. This would place the final washout somewhere near mid month in June. The stock market looks as though it is about ready to roll over into mid-June also. I have a possible 1807 target for the S&P 500 by or around June 14-15 and GDX 17.68 by or around June 13-14.

Breaking News And Best Of The Web — May 26

Posted: 25 May 2016 12:00 AM PDT

Central banks likened to pornographers. Greece, believe or not, is still getting bailed out, and China is apparently next. US corporate share buybacks are starting to peter out. Japan lobbies for bigger deficits around the wold. Sprott’s Rick Rule how and why the gold bull market is for real, while precious metals continue correcting. Look […]

The post Breaking News And Best Of The Web — May 26 appeared first on DollarCollapse.com.

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