Sunday, August 21, 2016



The SILVER Royal Price Flush! – Bo Polny

Posted: 21 Aug 2016 11:05 AM PDT

In an announcement many silverbugs will no doubt rejoice over, Bo Polny has just called for a Royal Silver Price Flush…   From Bo Polny: Dear Gold/Silver friends, After calling the exact Gold bottom at $1045 on December 3, 2015 in a Future Money Trends Interview (click LINK here), for months now we have been writing and […]

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Gold Miners’ Q2 Fundamentals

Posted: 21 Aug 2016 08:00 AM PDT

The gold miners' stocks have skyrocketed this year as investors started returning to this long-abandoned sector.  Many have tripled, quadrupled, or even quintupled since mid-January alone!  But are such epic gains fundamentally justified? Much insight into this crucial question for investors can be gleaned from the gold miners' latest quarterly financial and operational results. Their […]

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Alasdair Macleod’s Market Report: Rothschild Buys Gold

Posted: 20 Aug 2016 09:01 PM PDT

There are solid buyers on the dips who are not behaving like flighty hedge fund managers. Conventional investors are gradually coming round to the idea that gold should be included in their portfolios. This week, Lord Rothschild, chairman of Rothschild Investment Trust, revealed that the fund had established an exposure to gold of 8% of […]

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Friday’s Raid Will Become A Problem Monday – Harvey Organ

Posted: 20 Aug 2016 08:32 PM PDT

The crooks love to raid on Friday's especially after the Shanghai Fix and London fixes because there is no risk on paper turning into real metal for the rest of the day. However come Monday, it will become a problem…   NO CHANGE IN GLD/SLV/AUGUST GOLD STANDING; 42.815 TONNES/BIG NEWS OF THE DAY: ENGLAND TO […]

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Breaking News And Best Of The Web

Posted: 20 Aug 2016 05:37 PM PDT

European banks deteriorating. Negative interest rates getting a lot of attention. More scary predictions from George Soros. Citi loads up on derivatives. Fed officials predicting Sept rate hike. Corporations buy back fewer shares, insiders sell more. Money pours into emerging markets. Silver miners gain fans. Trump hires new people, keeps falling in polls.   Best […]

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*Breaking: US Mint Halts Silver Eagle Coin Production Due to Lack of Demand

Posted: 20 Aug 2016 11:15 AM PDT

The US Mint has reportedly HALTED PRODUCTION of 2016 American Silver Eagle Coins…     Over the past several weeks we have documented the plunge in Silver Eagle sales at the US Mint from approximately 1,000,000 coins a week throughout the entire first half of 2016 to around 150,000 coins a week over the past […]

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Unfathomable Prices for Silver? “Banking System Will Ultimately Require A Reset” – John Embry

Posted: 20 Aug 2016 11:00 AM PDT

This week, Egon von Greyerz met up with Sprott's John Embry in London to discuss a subject that we suspect could peak the interest of more than a few readers. Could silver reach $1,000?   John and Egon cover an eclectic range of extremely important issues relevant to preserving capital, including: • Coming hyperinflation • […]

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Eric Sprott Breaks Down Options Expiration Gold and Silver SMASH

Posted: 19 Aug 2016 07:05 PM PDT

In this Must Listen gold and silver update, Eric Sprott discusses the latest FOMC minutes, today’s gold and silver PRICE SMASH, the struggling global economy, and the continued interest in the mining shares. “We’re in the 1st or 2nd inning. We Have a LONG Way to Go… Buy 1 oz Silver Bars at SD Bullion […]

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Signs Are Silver Bull Market Is Consolidating

Posted: 08 Aug 2016 01:00 AM PDT

Having hit a target, silver has formed what is believed to be an intermediate top over the past five weeks or so, which it should soon start to descend from, says technical analyst Clive Maund.

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Why The Jobs Report Is Not Nearly As Strong As You Are Being Told

Posted: 07 Aug 2016 04:38 PM PDT

Jobs Unemployment Main Street - Public DomainHappy days are here again? On Friday, the mainstream media was buzzing with the news that the U.S. economy had added 255,000 jobs during the month of July. But as you will see below, the U.S. economy did not add 255,000 jobs during the month of July. In fact, without an extremely generous “seasonal adjustment”, the number of jobs added during the month of July would not have even kept up with population growth. But the pretend number sounds so much better than the real number, and so the pretend number is what is being promoted for public consumption.

Why doesn’t the government ever just tell us the plain facts? Unfortunately, we live at a time when “spin” is everything, and just about everyone in the mainstream media seemed quite pleased with the “good jobs report” on Friday. However, as Zero Hedge has pointed out, the truth is that the “unadjusted” numbers tell a very different story…

As Mitsubishi UFJ strategist John Herrmann wrote in a note shortly after the report, the “jobs headline overstates” strength of payrolls. He adds that the unadjusted data show a "middling report" that's "nowhere as strong as the headline” and adds that private payrolls unadjusted +85k in July vs seasonally adjusted +217k.

In Herrmann's view, the government applied a "very benign seasonal adjustment factor upon private payrolls to transform a soft private payroll gain into a strong gain."

He did not provide a reason why the government would do that.

Every month, the U.S. economy must create at least 150,000 new jobs just to keep up with population growth. According to the unadjusted numbers, we did not hit that threshold, and so the employment situation in this country actually got worse last month.

In America today, there are 7.8 million Americans that are considered to be officially unemployed, and another 94.3 million working age Americans that are considered to be “not in the labor force”.

When you add those two numbers together, you get a grand total of 102 million working age Americans that do not have a job right now.

Rather than focusing on the headline “unemployment” figure, we get a much fairer look at the employment crisis in the United States when we examine the employment-population ratio. The following chart comes directly from the Bureau of Labor Statistics, and it shows that the percentage of Americans that are employed has never even come close to getting back to where it was just prior to the last recession…

Employment-Population Ratio 2016

Over the past couple of years we have seen a slight bump in this number, and that is good, but normally after a recession ends the employment-population ratio goes back to at least as high as it was before.  Unfortunately, this has not happened after the last two recessions.  The following comes from Wolf Richter

The ratio always drops during recessions, but before 2001, it always climbed to higher highs during the recoveries. The 2001 recession and subsequent recovery changed this. For the first time, the ratio never fully recovered, never got even close to fully recovering. That was a new phenomenon: employment growth could no longer keep up with population growth.

When the Great Recession hit, the ratio plunged from its lower starting point at the fastest pace on record (going back to 1948). The Fed's efforts were all focused exclusively on bailing out bondholders, re-inflating the stock market, re-inflating the housing market, and generally creating what had become the official Fed policy at the time, the Wealth Effect (here's Bernanke himself explaining it). This has re-inflated asset prices – many of them way beyond their prior bubble peaks.

But the Fed's astounding focus on capital accelerated the already changing dynamics of the economy, at the expense of labor.

Even the Wall Street Journal admits that we are in the weakest “economic recovery” since 1949, and now there are lots of signs that we have entered a brand new economic downturn.  Here are just a few examples from Chad Shoop

  • Ford, GM and Chrysler — three of the U.S.' largest auto companies — reported sales for July that missed estimates: down 3%, 1.9% and up 0.3%, respectively.
  • Delta Airlines, one of the largest airlines in the world, said revenue fell 7% in July as part of its monthly performance update.
  • Macy's, the biggest department store company, reported a decline in sales for July, leading to more aggressive markdowns and an industry-wide sell-off.

And lots of ominous signs continue to pop up on Wall Street as well.  For one thing, the Libor rate has surged to the highest level since the last financial crisis.  If you are not familiar with Libor, here is a pretty good explanation of it from Business Insider

The Libor, or London Interbank Offered Rate, measures the interest rate at which banks lend to each other at different durations, and its sharp jump was a harbinger of the financial crisis.

And according to that same article, the Libor rate is now the highest that we have seen since early 2009

In the past month, the Libor rate has spiked to rates not seen since the first quarter of 2009, the heart of the banking meltdown.

Not to mention, the spread between the Libor and the Overnight Index Swap rate, which tracks the lending rate from the Federal Reserve, has widened, another potentially worrying sign.

But of course I have been quoting facts and figures like this for months, and yet U.S. financial markets continue to hold it together.

There are literally dozens of parallels between the global financial crisis of 2008 and what is happening in 2016, but Wall Street continues to defy the laws of economics.

Of course it won’t last forever, but it certainly has been a sight to behold.

And I am certainly not alone in my analysis.  As I noted the other day, DoubleLine Capital CEO Jeffrey Gundlach is entirely convinced that stocks “should be down massively”…

"The artist Christopher Wool has a word painting, 'Sell the house, sell the car, sell the kids.' That's exactly how I feel – sell everything. Nothing here looks good," Gundlach said in a telephone interview. "The stock markets should be down massively but investors seem to have been hypnotized that nothing can go wrong."

For the moment, investors continue to pay extremely irrational prices for stocks, and the mainstream media is just giddy about the state of the economy.

So let us enjoy this very strange period of stability for however much longer it lasts, but let us also protect ourselves from the horrible crash that will inevitably follow.

31 Incredible Facts About Gold

Posted: 07 Aug 2016 09:06 AM PDT

gold factsNo metal can claim a legacy comparable to gold. Gold has been used to show affectionate love, but it has also represented power, status, and riches for the greatest kings of antiquity. Gold's history is truly legendary, ripe with colorful tales and anecdotes from people ranging from William Shakespeare to Christopher Columbus. But gold doesn't […]

David Erfle, Kitco Contributor Comments on Gold and Gold Stocks

Posted: 06 Aug 2016 12:52 PM PDT

David Erfle, a full time investor and Kitco contributor joins us to discuss the Sprott Symposium and his current thoughts on the sector.


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