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Sunday, November 27, 2016

Gold World News Flash

Gold World News Flash

GoldSeek.com Radio: Peter Schiff and John Williams, and your host Chris Waltzek

Posted: 27 Nov 2016 09:00 PM PST

John Williams aka Walter J. "John" Williams was born in 1949. He received an A.B. in Economics, cum laude, from Dartmouth College in 1971, and was awarded a M.B.A. from Dartmouth's Amos Tuck School of Business Administration in 1972, where he was named an Edward Tuck Scholar. Peter is one of the few investment advisors to have correctly called the current bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts of the mortgage meltdown, credit crunch, and decoupling of commodities, precious metals, and foreign markets from the U.S. Dollar, he has become a sought-after economic commentator on a range of investment topics.

A diagram of secret interventions in gold and currency markets by central banks

Posted: 27 Nov 2016 08:12 AM PST

The Money Insights internet site has published a summary of the organization of the central bank gold price suppression scheme, showing how it is part of a much broader system of the rigging of the international currency markets whose mechanisms are visible but whose operations are secret.

Q1 – Q3 2016 China Net Gold Import Hits 905 Tonnes

Posted: 27 Nov 2016 08:10 AM PST

Chinese gold demand is still going strong this year, albeit less than in 2015. The most likely reason for somewhat lower demand has been the strength in the price of gold in the first three quarters of this year, to which the Chinese reacted by somewhat subduing purchases. From 1 January until 30 September 2016, the gold price went up 24 % in US dollars per troy ounce, from $1,061.5 to $1,318.1; measured in renminbi the price went up 28% over the same period.

What Does Trump Mean for Investments?

Posted: 27 Nov 2016 08:03 AM PST

So the outlook a little further out—combined with easy money around the world, stronger Indian demand, possible geopolitical turmoil, and a decline in mine production—will be a higher gold price. The question for us is, at what point does the near term turn into the further out. We will likely see a stronger dollar (and lower gold) heading into the rate hike, but that could well prove a turning point, as it did last December. We would also add that the withdrawals from gold ETFs are probably overdone, while stock valuations, among both miners and exploration companies, are very favorable.

Italy: The Biggest Elephant Jeopardizing Europe and the Euro

Posted: 27 Nov 2016 07:07 AM PST

Not just the euro, but the entire European Union may be in jeopardy next week when the Italians vote on a constitutional referendum initiated by Prime Minister, Matteo Renzi. What a Jubilee year it has been. First Brexit, then Trump and now it appears Italy is on the cusp of also escaping the grasp of the European Union. After two years of directly covering trends involved with the disintegration of Western culture in my book Shemitah Trends, I can say with confidence that what has been built up is being torn down. That includes the European Union which will either gradually or abruptly collapse into various pieces.

Traders Say “No Thanks” To Gold

Posted: 27 Nov 2016 06:00 AM PST

It's always nice to have this long weekend before we make the mad dash to Christmas. With stocks generally strong into Christmas and all the cheer of the season, it's always a busy and fun time of year. Stocks are setting up very well with lots of buy levels right now, BUT, we are quite overbought so a few days of rest and consolidation is needed right now before we resume the uptrend into years end. Metals continued to show weakness, with the exception of palladium, and they are not looking greta at all.

The Washington Post: Useful-Idiot Shills For A Failed, Frantic Status Quo That Has Lost Control Of The Narrative

Posted: 26 Nov 2016 06:55 PM PST

Submitted by Charles Hugh-Smith via OfTwoMinds blog,

Don't you think it fair and reasonable that anyone accusing me of being a shill for Russian propaganda ought to read my ten books in their entirety and identify the sections that support their slanderous accusation?

I was amused to find my site listed on the now-infamous list of purportedly Russian-controlled propaganda sites cited by The Washington Post. I find it amusing because I invite anyone to search my 3,600-page archive of published material over the past decade (which includes some guest posts and poems) and identify a single pro-Russia or pro-Russian foreign policy entry.

If anything, my perspective is pro-US dollar, pro-liberty, pro-open markets, pro-local control, pro-free-press, pro-innovation, and pro-opportunities to rebuild America's abandoned, decaying localized economies: in other words, the exact opposite of Russian propaganda.

My "crime" is a simple one: challenging the ruling elite's narrative. Labeling all dissent "enemy propaganda" is of course the classic first phase of state-sponsored propaganda and the favorite tool of well-paid illiberal apologists for an illiberal regime.

Labeling everyone who dissents or questions the ruling elite's narrative as tools of an enemy power is classic McCarthy-era witch-hunting, i.e. a broad-brush way of marginalizing and silencing critics with an accusation that is easy to fabricate but difficult to prove.

Such unsupported slander is a classic propaganda technique. It has more in common with Nazi propaganda than with real journalism.

The real useful-idiot shills are the editors and hacks paid by the Washington Post, who are busy penning articles such as "Why the electoral college should choose Hillary Clinton". Isn't this fundamentally a call to over-ride the Constitutional framework of the republic's democracy?

In other words, the ruling elite's candidate lost, so let's subvert democracy to "right this terrible wrong" that was wrought by fed-up debt-serfs.

Substitution is a useful technique to reveal propaganda: if Trump had lost by a thin margin, would the The Washington Post publish an article "Why the electoral college should choose Donald Trump"?

Any site suggesting such an outlandish subversion of American democracy would of course by labeled Russian-controlled propaganda by The Washington Post. In other words, it's OK for the organs of Imperial Propaganda to call for the subversion of the Constitution, but if someone else dares to do so, you know the drill: they're labeled a tool of Russian propaganda.

Just as a reminder, this is the status quo / ruling elite's handiwork The Washington Post shills/propagandists support: a status quo of institutionalized privilege, corruption and systemically soaring wealth and income inequality:

The institutionalized impoverishment of non-elite students:

The institutionalized impoverishment of the bottom 99.9%:

The institutionalized impoverishment of everyone below the protected technocrat-insider class of shills, apparatchiks and professionals:

This is what The Washington Post is pushing: a parasitic, predatory, exploitive, ruinously corrupt and venal ruling class and its army of apologists/lackeys/factotums.

The fundamental source of the Post's hysterical accusations is the ruling elite has lost control of the narrative. This is the source of the mainstream media's angst-tinged hysteria and frantic efforts to marginalize and discredit any dissenting narratives that undermine or question the power of a corrupted, self-serving ruling elite that has failed the nation and its citizens.

This is why Donald Trump was routinely labeled a Russian shill by the mainstream media during the campaign. Regardless of what you think of Trump or Clinton, what can we say about a supposedly responsible media that so cavalierly spews fact-free accusations of foreign control? This is the height of irresponsible propaganda being passed off as "journalism."

Free speech implicitly carries the responsibility of the reader/listener/viewer to make a critical assessment of the content, its source and its aim: who benefits if we accept the narrative being pushed?

The delicious irony of The Washington Post's hysterical campaign to smear dissenters as tools of Russian propaganda is that it only serves to discredit the Post itself. For my part, I invite you to read all ten of my books and make your own critical assessment of the content and answer these questions:

1. Did you find even a single passage in the thousands of pages that favored Russian policies?

2. Did you find any passages that favored domestic resilience and self-reliance, localized economic development, and the promotion of innovations that favored the many rather than the few?

3. Don't you think it fair and reasonable that anyone accusing me of being a shill for Russian propaganda ought to read my ten books in their entirety and identify the sections that support their slanderous accusation?

If they can't support it, then isn't their accusation the very propaganda they claim to be identifying?

Just as a reminder: here's my chart of the Ministry of Propaganda (from 2007):

When Does "Managed Perception" Become Reality? (May 1, 2011)

*  *  *

Join me in seeking solutions by becoming a $1/month patron of my work via patreon.com. My new book is #8 on Kindle short reads -> politics and social science: Why Our Status Quo Failed and Is Beyond Reform ($3.95 Kindle ebook, $8.95 print edition) For more, please visit the book's website.

A WARNING TO US GOVERNORS

Posted: 26 Nov 2016 06:00 PM PST

Satan divided against Satan!...YES! 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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More Lies From The 'Experts': "Get Trump At All Costs"

Posted: 26 Nov 2016 05:45 PM PST

Authored by Paul Craig Roberts,

As flyover America has been suffering economically for many years, these Americans were immune to the oligarchy’s anti-Trump propaganda. However, everyone else in the country was taken in by the propaganda - liberals, progressives, the remnant of the leftwing, and even Patrick Martin of the World Socialist Web Site who normally writes intelligent commentary.

Like Green candidate Jill Stein, Patrick Martin wants a vote recount that could be manipulated to put Hillary in the White House. Apparently, Martin is unfamiliar with Hillary and her record of war crimes. Instead of expressing relief that the agent of the military/security complex, who has threatened military action against Russia and demonizes the Russian president as “the new Hitler,” was not elected, Martin unloads on Trump who has stated his goal of reduced tensions between nuclear powers. Trump’s government, Martin writes, “will undoubtedly be the most reactionary, militaristic and dictatorial government in American history.”

If war and dictatorship aren’t enough, Daniel Altman tells us that Trump will bankrupt us as well. We are on our way to debtors’ prison, says Daniel Altman in Foreign Policy:

Americans already know what happens when this strategy comes to Washington. Reagan and the younger Bush let the nation live beyond its means, too, stealing from legions of unborn Americans to fund their grand ideas. They also stole from as-yet unelected presidents; whoever followed them in power would be the ones to pay the piper. Their own party would return when times were good again.

 

A combination of rapidly rising deficits and higher interest rates could make the nation’s debt unsustainable even within Trump’s four-year term — and that’s if his stimulus works. If he stays true to his record in business, another bankruptcy could be on the horizon. This time, though, there won’t be any second chances, and all Americans will be left holding the bag.

Altman doesn’t seem to know any more about his subject than Martin knows about Hillary. Altman writes as if the tax and spending policies of Ronald Reagan and “the younger Bush” are responsible for the national debt by letting the nation “live beyond its means, stealing from legions of unborn Americans to fund their grand ideas.”

As economist J.W. Mason has shown, Reagan did not increase the national debt. During the Reagan years, the growth in the national debt was due to the high interest rates imposed by the Federal Reserve (in my opinion in the Establishment’s attempt to wreck the Reagan program).
Mason shows that it was the Fed-imposed increase in interest rates on the debt that raised the national debt.

The standard historical narrative about President Ronald Reagan's budgets goes like this: He slashed taxes for the rich, spent a ton of money on the military, and the national debt exploded.

 

Now, that is a fair description of his policies. But it turns out Reagan may have gotten a bad rap on the debt charge.

 

In fact, the major culprit was another, often overlooked player: interest payments. Just why exactly this happened is extremely interesting, and also carries very important lessons for budgetary and monetary policy today. Put short, the conventional wisdom about debt and monetary policy is almost entirely wrong.

 

So when centrist types argue for austerity or greater interest rates as some kind of self-evident proposition, remember Reagan's bum rap. Remember, too, that the whole point of all this budget and monetary policy is to facilitate the business of human life, and not the other way around.

In contrast, despite the Fed’s accommodation of the Oligarchy’s puppet, Obama, with zero interest rates, holds the record for the greatest increase in US national debt.

Obama added $8 trillion dollars to the national debt...:

One way to measure the debt by President is to sum all his budget deficits.

 

That's because the President is responsible for his budget priorities. Each year's deficit takes into account budgeted spending and anticipated revenue from proposed tax cuts or hikes.

 

But there's a difference between the deficit and the debt by President.

 

That's because all Presidents can employ a sleight of hand to reduce the appearance of the deficit. They can borrow internally from other government sources. For example, the Social Security Trust Fund has run a surplus since 1987. That's because there were more working people contributing via payroll taxes than retired people withdrawing benefits. The Fund invests its surplus in U.S. Treasury notes. The President can reduce the deficit by spending these funds instead of issuing new Treasuries.

 

*  *  *

 

Barack Obama - The national debt grew the most dollar-wise during President Obama's two terms. He added $7.917 trillion, a 68 percent increase, in seven years. Obama's budgets included the economic stimulus package. It added $787 billion by cutting taxes, extending unemployment benefits, and funding job-creating public works projects. The Obama tax cuts added $858 billion to the debt in two years. Obama's budget included increased defense spending to between $700 billion and $800 billion a year.

 

Federal income was down, thanks to lower tax receipts from the 2008 financial crisis. He also sponsored the Patient Protection and Affordable Care Act. It was designed to reduce the debt by $143 billion over ten years. But these savings didn't show up until the later years. For more, see National Debt Under Obama.

 

George W. Bush - President Bush added the second greatest amount to the debt, at $5.849 trillion. But that was a 101 percent increase to the debt. It was $5.8 trillion on September 30, 2001. That's the end of FY 2001, which was President Clinton's last budget. Bush responded to the 9/11 attacks by launching the War on Terror. That drove military spending to record levels of between $600-$800 billion a year. It included the Iraq War, which cost $807.5 billion. President Bush also responded to the 2001 recession by passing EGTRRA and JGTRRA. These were known as the Bush tax cuts and they further reduced revenue. He approved a $700 billion bailout package for banks to combat the 2008 global financial crisis.  Both Presidents Bush and Obama had to contend with higher mandatory spending for Social Security and Medicare. For more, see President Obama Compared to President Bush Policies.

 

Franklin D. Roosevelt - President Roosevelt increased the debt the most percentage-wise. Although he only added $236 billion, this was a 1,048 percent increase over the $23 billion debt level left by President Hoover's last budget. Of course, the Great Depression took an enormous bite out of revenues. The New Deal cost billions. But FDR's debt major contribution to the debt was World War II spending. He added $209 billion to the debt between 1942-1945. For more, see FDR Economic Policies.

 

Woodrow Wilson - President Wilson was the second largest contributor to the debt percentage-wise. Although he only added $21 billion, this was a 727 percent increase over the $2.9 billion debt level of his predecessor. Wilson had to pay for World War I. In fact, the Second Liberty Bond Act was enacted during his Presidency, giving Congress the right to adopt the national debt ceiling.

So, simply put, the leftist lies continue in their effort to besmirch the president-elect "at all costs."

FARAGE CALLS FOR ‘TOTAL REVOLUTION’ IN BRITAIN FOLLOWING BREXIT AND DONALD TRUMP VICTORIES

Posted: 26 Nov 2016 05:00 PM PST

 JOEY MILLAR for the Express reports, NIGEL Farage has called for a "revolution" in the UK - claiming despite this summer's stunning Brexit victory "there are still great battles to be fought". The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists ,...

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HILLARY CLINTON Now Participating in Vote recount!

Posted: 26 Nov 2016 04:30 PM PST

 Surprise Surprise and on a Thanks giving weekend to boot, how predictable. You can see these people coming from a mile away. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers ,...

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Fidel Castro's life and legacy

Posted: 26 Nov 2016 04:00 PM PST

 Al Jazeera's Latin America Editor Lucia Newman recounts Fidel Castro's life and legacy. 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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Breaking: Hillary Clinton to OVERTHROWN TRUMP Election, Joins Stein in Recount

Posted: 26 Nov 2016 03:30 PM PST

 Breaking: Hillary Will Join Stein in Recount Efforts to Overthrow Trump! Trump needs to dump the rest of the 650,000 emails and info on the laptop. They'll loose. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free...

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Q1 – Q3 2016 China Net Gold Import Hits 905 Tonnes

Posted: 26 Nov 2016 03:04 PM PST

Bullion Star

Trump: Castro Was a Brutal Opressive Dictator, Pope: Castro was a Saint

Posted: 26 Nov 2016 02:00 PM PST

 Castro's vile ways are now worshiped by the traitor media, his sins are being swept under the rug as they burnish his legacy to hide the vile results of totalitarian communism. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries ,...

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Former CIA Contractor Claims Aliens Are Using Our Planet “Like a Supermarket

Posted: 26 Nov 2016 01:30 PM PST

 Event Is Coming Soon - Former CIA Contractor Claims Aliens Are Using Our Planet "Like a Supermarket. A former CIA employee reveals the reason why some aliens keep visiting our planet. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists ,...

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BREAKING: Finally! JULIAN ASSANGE Is ALIVE & TO BE INTERVIEWED! See When & Where!

Posted: 26 Nov 2016 01:00 PM PST

BREAKING: Finally! Julian Assange Is Alive & Will Be Interviewed! See When & Where! 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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Soros & Jill Stein doing their best to get Clinton elected.

Posted: 26 Nov 2016 12:30 PM PST

 US Jewish billionaire George Soros is behind the recent push for recounting US presidential election votes, in a bid to get Democratic nominee Hillary Clinton into the White House, an American analyst argues. The Financial Armageddon Economic Collapse Blog tracks trends and...

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GATA Chairman Murphy interviewed by Wealth Research Group

Posted: 26 Nov 2016 11:33 AM PST

2:36p ET Saturday, November 26, 2016

Dear Friend of GATA and Gold:

GATA Chairman Bill Murphy was interviewed this week by Wealth Research Group editor Lior Gantz about GATA's work exposing government rigging of the gold market and other markets. The interview is a half hour long and can be heard at YouTube here:

https://www.youtube.com/watch?v=Ra1m7-uAr6k

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


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Sandspring Resources Commences 2016 Exploration Campaign

Company Announcement
August 17, 2016

Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.

In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.

For the remainder of the announcement and highlights of the 2015 drill program:

https://finance.yahoo.com/news/sandspring-resources-commences-2016-explo...


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

Koos Jansen: Chinese gold demand strengthens amid lower prices

Posted: 26 Nov 2016 11:11 AM PST

2:14p ET Saturday, November 26, 2016

Dear Friend of GATA and Gold:

Gold researcher Koos Jansen reports today that gold demand in China, already strong, has been strengthening with the recent decline in the international price. Jansen's report is headlined "Q1–Q3 2016 China Net Gold Import Hits 905 Tonnes" and it's posted at Bullion Start here:

https://www.bullionstar.com/blogs/koos-jansen/q1-q3-2016-china-net-gold-...

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


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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

Secrets Of Fidel Castro's Death and Life Revealed

Posted: 26 Nov 2016 10:39 AM PST

 There is more to the legend of Fidel Castro than most people know, Alex breaks down the true story of the reverberation of his life on humanity. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists ,...

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Silver Mining Stocks Q3 2016 Fundamentals

Posted: 26 Nov 2016 09:42 AM PST

The silver miners recently finished reporting their third-quarter results, offering a hard fundamental look into this sector.  This reality check is valuable given the fierce winds of bearish sentiment buffeting silver stocks in recent months.  Despite their huge correction, the elite silver miners’ fundamentals remain strong.  They are producing at costs far below prevailing silver levels, with profits poised to soar as silver recovers.

What Does Trump Mean for Gold Investments?

Posted: 26 Nov 2016 08:04 AM PST

The market reaction to Trump's election victory—stocks and the dollar up, gold down—was the opposite of what had been widely foreseen. Money manager Adrian Day takes a look into what happened and why, and discusses the outlook going forward. At the core of the market reaction are interest rates. Bonds declined sharply on the Trump victory. They had already been falling for the last several months, and the growing conviction of a rate increase in December stepped up the decline. Trump, with his grandiose spending and debt plans, only exacerbated that decline.

Gold Price Down 13.5% In 13 Days - Opportunity For Geometric Price Cost Averaging

Posted: 26 Nov 2016 08:01 AM PST

Gold down 13% in 13 trading days since Trump election Factors that have led to lower gold prices Trump bearish for gold in coming four years? ‘Trumpflation’ cometh Sharia gold – vaulted gold accessible to 110 million new investors What to do? Diversify and geometric price cost average

What Investors Can Learn from Gold Yen Price?

Posted: 26 Nov 2016 07:50 AM PST

Our Market Overview would be incomplete without remarks about gold priced in the Japanese yen. Chart 1 shows nominal gold prices denominated both in the U.S. dollar and the Japanese currency, while Chart 2 plots the indices of gold prices in these two currencies. Chart 1: The price of gold in U.S. dollars (yellow line, right axis) and in Japanese yen (red line, left axis) from January 1979 to September 2016.

Will India try restricting gold ownership? Anonymous sources are contradictory

Posted: 26 Nov 2016 07:11 AM PST

India May Impose Curbs on Domestic Gold Holdings

By Neha Dasgupta
From Reuters
Friday, November 25, 2016

The government may impose curbs on domestic holdings of gold as Prime Minister Narendra Modi intensifies a fight against "black money," news agency NewsRise reported, citing an unnamed finance ministry official.

NewsRise did not provide further details. A finance ministry spokesman declined to comment on the report.

Gold premiums in India jumped to two-year highs last week as jewellers ramped up purchases on fears the government might restrict imports after withdrawing higher-denomination notes from circulation in its fight against black money. ...

... For the remainder of the report:

http://in.reuters.com/article/india-modi-corruption-gold-idINKBN13K0H5

* * *

No Proposal to Restrict Gold Holding by Individuals

From the Press Trust of India
via The Times of India, Mumbai
Friday, November 25, 2016

NEW DELHI -- The government is not considering any proposal to restrict holding of gold by individuals, a top finance ministry source said today.

Following the demonetization of 500- and 1,000-rupee notes in a bid to crack down on black money, there were apprehensions among people that the government might impose some kind of restrictions on gold holding by individuals.

"There is no such proposal before the government on restricting domestic gold holding," the source said. ...

... For the remainder of the report:

http://economictimes.indiatimes.com/news/economy/policy/no-proposal-to-r...


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K92 Mining Begins Gold Production at Kainantu Mine

Company Announcement
Wednesday, October 5, 2016

K92 Mining Inc. is pleased to announce that gold production has commenced from the Irumafimpa gold deposit.

Ian Stalker, K92 Chief Executive Officer, says: "This milestone is highly significant for our company, and for this region of Papua New Guinea. A great deal of thanks goes to the entire team on site in PNG in achieving production ahead of schedule and on budget. The rehabilitation of the Irumafimpa gold mine, process plant, and associated infrastructure commenced in late March and is now complete. As an enhancement of the processing facility, we are also pleased to note that the installation of a new drum scrubber is also nearing completion and commissioning of this will be completed by the end of the month. ..."

...For the remainder of the announcement:

http://www.k92mining.com/2016/10/6077/


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

Gold not safe enough in India so hoarders opt for silver bars

Posted: 26 Nov 2016 06:47 AM PST

By M. Sabari
The New Indian Express, Chennai
Saturday, November 26, 2016

http://www.newindianexpress.com/states/tamil-nadu/2016/nov/26/gold-not-s...

SALEM, Tamil Nadu, India -- Black money holders, who have been struggling to convert their money into white, are buying huge amounts of silver bars at high prices. This illegal trade is picking up rapidly in Salem City.

After Prime Minister Narendra Modi announced that 500- and 1,000-rupee notes would have no legal tender status from midnight November 8, the black money holders have been finding various way to change their money into white. Now black money holders, especially in the west zone including Salem, Dharmapuri, Namakkal, Krishnagiri, Erode, Tirupur, Coimbatore, and the Nilgiris districts, have turned their eyes on silver bars.

... Dispatch continues below ...


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Canadian Government Issues Key Water License
for Seabridge Gold's KSM Project in British Columbia

Company Announcement
Monday, November 21, 2016

TORONTO -- Seabridge Gold Inc. (TSX: SEA) (NYSE:SA) announced today it has received a license from the Government of Canada required for the construction, operation, and maintenance of the water storage facility and associated ancillary water works at its 100 percent-owned KSM Project in northwestern British Columbia.

The license, as authorized within the International Rivers Improvement Act, regulates all structures and activities situated on transboundary waters shared with the United States that have the potential to affect water quality and quantity. The Water storage facility and its ancillary water works (water diversion ditches and tunnels) are the primary water management control systems for the KSM Project. These facilities separate water that has not contacted mined material from so-called contact water originating from disturbed areas of the mine site and then contain the contact water prior to treatment and eventual release to the receiving environment.

These facilities are situated on Mitchell and Sulphurets creeks, tributaries of the transboundary Unuk River system that flows into Alaska. The license was granted for a term of 25 years under the International Rivers Improvements Regulations as administered by Environment and Climate Change Canada. ...

... For the remainder of the announcement:

http://seabridgegold.net/News/Article/642/federal-government-issues-key-...


Particularly, black money holders in districts around Salem are now heading toward Salem to buy silver bars by using 500- and 1,000-rupee notes. The Salem district is well known for its silver anklet business. Shevapet in Salem City is the hub for silver business.

Around a thousand silver anklets shops function in the locality. Speaking to the Express, a small silver anklet shop owner said, "After demonetisation, most of the black money holders in and around Salem bought gold bars. But after information spread that the government will next focus on gold sales, they are afraid that the gold rate will come down drastically in coming days."

There have been reports from around the country that people were buying gold, often at a premium, with the demonetized currencies. Following this, the central government responded by saying it will track jewellers and purchases to crack down on black money holders.

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Resolving Trump’s Contradictions

Posted: 26 Nov 2016 06:32 AM PST

This post Resolving Trump's Contradictions appeared first on Daily Reckoning.

Markets are holding their breath waiting for clarity from the Trump economic team. Right now there is something for everyone.

The current stock market rally is clearly attributable to the Trump mix of lower taxes, less regulation and more government spending. Post-election bond markets have indicated inflation expectations. And the drawdown in gold is clearly attributable to the expectation of higher interest rates.

Higher rates from the Fed drive the dollar higher. A low dollar price for gold is just the inverse of the strong dollar; it comes as no surprise. That much is clear.

What is not clear is how the contradictions in the Trump camp will be resolved…

The Trump loyalists from the "Make America Great Again" camp are pushing for huge infrastructure spending. Steve Bannon, for example, has spending plans that point to much higher deficits. But some advisers, such as David Malpass, favor fiscal discipline. Other advisers, such as Larry Kudlow and Art Laffer, favor tax cuts. Still other advisors such as Judy Shelton want to take a look at a gold standard which implies higher gold prices.

Higher spending and tax cuts will lead to much higher deficits. Laffer employs his "Laffer curve" to say the tax cuts will be self-financing. Tax cuts may help growth, but there's little evidence to show that they are self-financing.

The contradiction between the fiscal discipline of Malpass and the fiscal stimulus of Bannon are not the only contradictions. Kudlow and Mike Pence favor free trade, while Malpass and Bannon agree on the need to renegotiate trade deals. And so on.

These contradictions will take months to sort out.

The Trump team overall seems to favor a strong dollar and higher interest rates. But the strong dollar is deflationary and pushes the Fed away from its inflation target. Fed rate hikes will do the same thing.

On the other hand, if the Fed is slow to raise rates while spending takes off, inflation could surge out of control. The truth is that Trump economic policy has not been set, and both inflationary and deflationary outcomes are in play.

Sitting on the sidelines and watching is the Fed. If the Fed accommodates big spending and higher deficits, then inflation is on the way, like I said. That's great for gold.

But if the Fed raises rates to lean against inflation, they may cause a recession. That's bad for gold in the short run but sets up a global recession and major debt default by emerging markets. That will lead straight to a global liquidity panic, which will put gold on an upward path again as part of a flight to quality.

We'll have to await further information, such as the names of Trump's appointees to the Fed board of governors and the results of the Dec. 14 Fed meeting, before reaching more definitive conclusions about the shape of things to come.

My early estimate is that Yellen will lean against inflation with preemptive rate hikes starting in December and continuing in 2017. Yet, this rate hike path could throw the U.S. into a recession.

On balance, markets look stretched. Stocks ran too high, too fast. Gold, bonds and the euro are probably oversold.

Faced with this uncertainty, it's a good time to increase your cash allocation until we can get better visibility on the Trump plan.

Right now, both cash and gold have a place in your portfolio as insurance against the uncertainty coming from the Trump camp. As this uncertainty gets resolved, I'll be watching and updating my scenarios with greater visibility. Gold wins either way (inflation or deflation), but the ride is bumpier and more volatile on the deflation road.

In either case, now is the time to buy gold and gold miners.

Regards,

Jim Rickards
for The Daily Reckoning

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The post Resolving Trump's Contradictions appeared first on Daily Reckoning.

Breaking News And Best Of The Web

Posted: 26 Nov 2016 01:37 AM PST

The political focus shifts to upcoming Italian, French and Austrian elections, all of which could go against the establishment. India’s war on cash may turn into war on gold. US Durable goods orders and service sector jump, home and car sales plunge. Black Friday store sales underwhelming. US dollar at highest level of the year. […]

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

Jack Chan: This Past Week in Gold

Posted: 26 Nov 2016 12:00 AM PST

Technical analyst Jack Chan charts the latest moves in the gold and silver markets.
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