Monday, August 29, 2016



Now Could Be The Time To Get Out Of Gold And Into U.S. Dollars

Posted: 29 Aug 2016 01:04 PM PDT

The Earth’s Crust Will Be Shaken In 2016

Posted: 29 Aug 2016 01:00 PM PDT

As the very large earthquakes in Italy and Myanmar within the last 24 hours have demonstrated, the shaking of our planet is getting worse…   Submitted by Michael Snyder, The Economic Collapse Blog: Our planet will be hit by more than 100,000 earthquakes of magnitude 3.0 or greater this year alone.  Earlier today, I came across […]

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What's Behind The Recent Rise In U.S. Dollar Libor?

Posted: 29 Aug 2016 12:19 PM PDT

J-Hole Ridiculousness

Posted: 29 Aug 2016 12:00 PM PDT

We’ve often documented here the obvious Fed Goon strategy of jawboning and lies in an effort to prompt the “markets” to do what they’d like them to do. The ridiculousness of Friday may have set a new standard by which future verbal interventions will be measured… From Craig Hemke, TFMetals: With some time to spare this […]

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Dollar General: Analysts' Opinions - Worthless

Posted: 29 Aug 2016 11:59 AM PDT

EU Globalists Are About to Have Their Doors KICKED Down!

Posted: 29 Aug 2016 11:00 AM PDT

A Very Bad Year for Globalism 2016 is one of the worst years for the globalist agenda in decades.  Think about it: first Trump wrecked most of their US candidates, then Brexit tore the EU plutocrats a new orifice, and there's still over 4 months left to go! Every time that globalism has been defeated, […]

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Gold’s Ultimate Value

Posted: 29 Aug 2016 10:00 AM PDT

Without gold or some stabilizing hard asset, bubbles are blown and entire generations are misdirected by irrational thinking that leads to wasted biological time and energy. It is unlikely you would loan your hard-earned savings of gold bars to your pot-smoking neighbor so that he could get a degree in social science and then purchase […]

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Gold & Silver Mining Shares Mania is Coming

Posted: 29 Aug 2016 09:00 AM PDT

The first 6 months of 2016 was just the beginning.  A MANIA in Gold and Silver Mining Shares is Coming…

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SD Market Wrap: Manipulation May Not Succeed in Keeping Prices Lower For Much Longer

Posted: 29 Aug 2016 08:31 AM PDT

What will be most interesting, will be market trading Monday through Thursday.  Precious metals are trying to put in an organic bottom and rally.  The dip buying proves this.  With signs that the physical market might be tightening and Indian buying about to rise, it's not likely manipulation will succeed in keeping prices lower for much […]

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The Gold Standard and Debt Jubilee – Jeff Nielson

Posted: 29 Aug 2016 08:05 AM PDT

We need a gold standard. For those (newer) readers who don't understand why this is so, the explanation couldn't be simpler. Among other virtues, a gold standard performs two, essential functions…     From Jeff Nielson, Sprott Money: It prevents (corrupt) governments from drowning us in debt. It prevents (criminal) central banks from stealing all […]

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Precious Metals & the Fed – The Correction May Have Considerably Farther to Go…

Posted: 29 Aug 2016 08:00 AM PDT

Although at first sight it looks like we are being presented with a buying opportunity in the precious metals sector, which has reacted back over the past couple of weeks, we have to careful here. There has been no major correction in this sector all this year, which is inflated after months of rallying, and […]

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Jackson Hole Cartel Raid – An Inflection Point for Silver

Posted: 29 Aug 2016 08:00 AM PDT

Whiplash in the Gold and Silver Markets As Yellen Yaps At Jackson Hole: Good Cop, Bad Cop: Fed Gooses, Then SMASHES Gold & Silver Flying By the Seat of Their Pants – How Much Longer Can The Fed Keep the Markets in the Air? After 6 Months of Falling Premiums, This Silver Indicator Just Experienced An […]

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Refuse to Buy or Sell with the Federal Government

Posted: 29 Aug 2016 07:00 AM PDT

Even more important is the refusal to do business in any way possible, with the very thieves that run the criminal syndicates, under the names of their corporate logos…   Submitted by James Hall: That infamous mark of the beast is a regular condition of doing business with the federal government. How long have we […]

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Central Bank Non-Transparency

Posted: 29 Aug 2016 04:19 AM PDT

Just a quick post on Jan Nieuwenhuijs/Koos Jansen's article on the refusal of the Dutch Central Bank to publish a bar list. The reason given was that "the conversion of internal lists to documents for publication would create too many administrative burdens."

I find this excuse weak when gold ETFs can produce bar list in the thousands of pages, and do so without creating any security issue. Even if the custodians where they have the gold have given them a pdf bar list that for some reason contains information that could be a security risk, it should not be a problem to ask that custodian to modify the report/query on their inventory database to exclude such information, or output only the relevant fields of data as a csv file or spreadsheet. If the problem with doing that is that the custodian does not operate an electronic inventory system then we have some serious questions about the control and safety of that custodian's operations.

I think the real reason for not wanting to disclose the bar list is as some have noted in the comments to the article - when a central bank leases gold out, they get different bars back (see here on why this is case) and thus the changing bar numbers on the list would reveal what percentage of the central bank's gold was lent to bullion banks during the year.

For a central bank who follows correct accounting rules and show leases separately to physical gold (see here regarding Reserve Bank of Australia) a bar list should not be an issue (although see here for blogger Bullion Baron's problems getting a bar list out of the RBA, which it seems was more of a case of interference from the BoE and a lack of courage by the RBA to stand up to them) but for a central bank who reports physical gold and leased gold as "gold" the bar list would raise questions like "why didn't you disclose the difference, how can you pretend that leased and physical are the same" or questions about the risk the central bank is taking and whether the return they got was worth the risk. Whilst I haven't met central bankers personally, I'm guessing they don't take too kindly to having their actions or judgements questioned. Hence the stonewalling.

Late-August Calm a Breeding Ground for Bullion Bank Shenanigans

Posted: 29 Aug 2016 01:00 AM PDT

Precious metals specialist discusses the recent correction in the gold market and the moves by bullion banks behind them.

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Gold and Silver Fundamentals Up

Posted: 28 Aug 2016 10:21 PM PDT

Monetary Metals

America The Debt Pig: We Are A ‘Buy Now, Pay Later’ Society – And ‘Pay Later’ Is Rapidly Approaching

Posted: 28 Aug 2016 09:19 PM PDT

America The Pig - Public DomainIf you really wanted to live like a millionaire, you could start doing it right now.  All you have to do is to apply for as many credit cards as possible and then begin running up credit card balances like there is no tomorrow.  At this point, I know what most of you are probably thinking.  You are probably thinking that such a lifestyle would not last for long and that a day of reckoning would eventually come, and you would be exactly right.  In fact, anyone that has ever had a tremendous amount of credit card debt knows how painful that day of reckoning can be.  To mindlessly run up credit card debt is exceedingly reckless, but unfortunately that is precisely what we have been doing as a nation as a whole.  We are a “buy now, pay later” society, and our national day of reckoning is approaching very, very quickly.

Often we like to focus on our exploding national debt, but household debt is out of control too.  In fact, the total amount of household debt in the United States is now up to a whopping 12.3 trillion dolllars

In the second quarter, total household debt increased by $35 billion to $12.3 trillion, according to the New York Fed’s latest quarterly report on household debt. That increase was driven by two categories: auto loans and credit cards.

We throw around words like “trillion” so often these days that they often start to lose their meaning.  But the truth is that 12.3 trillion dollars is an astounding amount of money.  It breaks down to about $38,557 for every man, woman and child in the entire country.  So if you have a family of four, your share comes to a grand total of $154,231, and that doesn’t even include corporate debt, local government debt, state government debt or the gigantic debt of the federal government.  That number is only for household debt, and there aren’t too many Americans that could cough up their share right at this moment.

Do you remember when I wrote about how credit card companies are specifically targeting less educated and less sophisticated consumers?  Well, that is where much of the credit card debt growth has come lately.  Just check out these numbers

Now, credit cards are returning among individuals with low credit or subprime credit scores below 660. Among people with credit scores between 620 and 660, the share that had a credit card rose to 58.8% in 2015 from a low of 54.3% in 2013. Among those with scores below 620, the number of people with a credit card increased to 50% from a low of 45.6% two years ago. Both figures for 2015 are the highest since 2008.

In America today, we are enjoying a standard of living that we do not deserve.

We consume far more wealth than we produce.  The only way we are able to do that is by going into debt.

Debt takes future consumption and brings it into the present.  In other words, we are damaging the future in order to make the present a little bit better.  On an individual level, we may enjoy the big screen television we buy with a credit card today, but we are taking away our ability to spend money later.  And on a national level, what our unprecedented debt binge is doing to future generations of Americans is beyond criminal.

Earlier this month I explained these things to a live studio audience down at Morningside, and you can view a video of that right here

In this article I haven’t even talked about corporate debt yet.  Instead of learning their lessons from the last financial crisis, big corporations have gone on the biggest debt spree of all time.  If you can believe it, corporate debt has approximately doubled since the last financial crisis.  In other words, since the last recession we have essentially matched the total amount of corporate debt that we accumulated from the beginning of the country up to 2009.

Unfortunately, a lot of that debt is now going bad.

In previous articles I have documented that corporate debt delinquencies are now the highest that they have been since the last financial crisis, and corporate debt defaults are also the highest that they have been since the last financial crisis.

At this point, even the mainstream media is acknowledging that we have a corporate debt “crisis”.  The following comes from an article that was just put out by the Denver Post

The number of companies that have defaulted so far this year has already passed the total for all of last year, which itself had the most since the financial crisis. Even among companies considered high-quality, or investment grade, credit-rating agencies say a record number are so stretched financially that they're one bad quarter or so from being downgraded to "junk" status.

Companies whose debt is already deemed "junk" are in the worst shape in years. To pay back all they owe, they would have to set aside every dollar of their operating earnings over the next eight and a half years, more than twice as long as it would have taken during the 2008 crisis, according to Bank of America Merrill Lynch.

Are you starting to get the picture?

And I haven’t even started talking about our national debt yet.  When Barack Obama entered the White House, we were 10.6 trillion dollars in debt.  Today, we are 19.4 trillion dollars in debt.  That means that we have added 8.8 trillion dollars to the national debt under Obama, which breaks down to an average of 1.1 trillion dollars of additional debt a year.

We have been taking more than 100 million dollars of future consumption and bringing it into the present every single hour of every single day during the Obama administration.  That is why I am constantly referring to our “debt-fueled standard of living”.  We do not deserve to live the way that we do, but since we are able to steal from our children and our grandchildren we are able to enjoy a standard of living that most people in the world can only dream about.

Of course we are literally destroying the future of America in the process, but very few people seem to care about that these days.

Without all of this debt, we would be in a very deep economic depression right now.

But even with all of this “stimulus”, we are still mired in the worst economic “recovery” since 1949.  In fact, Barack Obama is actually on track to be the very first president in all of American history to not have one single year when U.S. GDP grew by 3 percent or better, and he has had two terms in which to try to get that accomplished.  The percentage of working age Americans that actually have a job is way down from where it was just prior to the last recession, and in this video I explain why the employment numbers put out by the government are not nearly as good as the administration would have us believe…

If the American people would have been willing to sacrifice and make some very hard choices a long time ago, maybe we could have gotten a handle on all of this debt.

But instead we continue to rack up debt as if there is no tomorrow, and in the process we are literally destroying tomorrow.

Every dollar of debt that we accumulate now makes life worse for our children and our grandchildren.

Unfortunately, we are a bunch of debt pigs, and we just can’t help ourselves.  We have come to believe that it is “normal” to go into so much debt, and as a society we continue to race toward economic oblivion.

Former Barrick Gold President: “A Big Move Has Begun… There’s Something Fundamentally Wrong With The Economy”

Posted: 28 Aug 2016 07:00 PM PDT


Breaking News And Best Of The Web

Posted: 28 Aug 2016 05:37 PM PDT

Odds of rate hike go up after Yellen speech. US Q2 GDP lowered, expected to rise in Q3. World trade continues to contract. Gold and US stocks fall post-Yellen. Negative interest rates getting a lot of attention, mostly critical. Europe doesn’t seem fixable. Trump hires new people, keeps falling in polls. Clinton emails remain major […]

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Correction in Gold and Silver Underway

Posted: 28 Aug 2016 04:00 PM PDT

The Gold Report

Correction in Gold and Silver Underway

Posted: 27 Aug 2016 01:00 AM PDT

Technical analyst Jack Chan charts a correction in the gold and silver markets and plots his investment strategy.

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