Tuesday, December 13, 2016

Gold World News Flash

Gold World News Flash


"The Odds Of A 'Spark' Setting Off A Global Economic Conflagration Are Very High"

Posted: 13 Dec 2016 12:30 AM PST

Submitted by via InternationalMan.com,

In 1871, a large portion of the city of Chicago burned to the ground. The Chicago Tribune attributed the fire to a cow owned by a Mrs. O’Leary. The Tribune stated that the cow kicked over a lantern as she was being milked, burning the barn and much of Chicago.

Whether the story is accurate is of little concern. (Somebody always has to be found to take the blame for catastrophe.) Whatever started the barn fire in Mrs. O’Leary’s neighbourhood, a seemingly minor event resulted in a major conflagration.

And so it is with economic events. Bankers are expected to maintain a fractional reserve of 3–10%, depending on the level and type of liabilities, but, not surprisingly, they often drop below the official level, especially in times of economic difficulties. Bank managers assume that they can always increase the reserve when good times return. The trouble is they’re at their most exposed at a time when a substantial reserve is most critical.

But why would bankers take such a risk? Aren’t they fearful that they’ll get caught out if a crisis occurs?

Not really. Their assumption is very often that their indiscretion exists in isolation. They assume that if they alone cheat the system a bit, they can always catch up later. For whatever reason, it rarely occurs to them that, in a struggling economy, each of their associates in the industry is also cheating the system. Since each one keeps his activities under wraps, it doesn’t become apparent that the whole system is a house of cards until a black swan jolts the system, which, due to its overall instability, self-destructs.

Similarly, in shaky economic times, there’s quite a bit of fiddling that’s done in the stock market. As the public begins to lose their confidence in the system, they offers their shares for sale. In order to cover up the loss of confidence, these shares may be bought up by central banks, governments, and/or the corporations themselves – buying back their own shares.

Of course, this is risky, as crashes are caused by loss of confidence. Papering over that loss of confidence by papering over the cause of the problem only means that when the crash comes, it will be worse than if it had been allowed to collapse earlier.

Pensions tend to be heavily invested in the markets, which tends to put them at risk as well. The foremost mutual fund in the US is invested in 507 companies – commodities, energy, financials, industrials, IT, etc. To be sure, these will not suffer equally in a crash, but all will be affected – some severely.

If an investor gets skittish about being tied so heavily to banks and the stock market, he might decide to buy some precious metals, as he’s hearing it bandied about that precious metals provide a hedge against stocks. But, knowing little about metals, he’s likely to be “prudent” and call his broker rather than visit the coin shop to buy some physical gold. Most likely, his broker will do what’s easiest for him: buy “paper gold” – a certificate that confirms ownership of gold that’s stored, most often, in a financial institution. The trouble is the paper gold industry has also been on the fiddle for quite a few years. The institution often doesn’t actually buy the gold, it simply promises to buy it if the client decides to cash in. It’s estimated that, at present, institutions have sold roughly 150 times the amount of gold that actually exists in the world.

Again, if only one institution were to be in on this scam, it might be able to save itself if caught out. However, when an entire industry is in on it, the crash, when it comes, will wipe out virtually all the value that the client assumed he had.

So, what does this mean to the investor who has sought to be diversified in a time of impending economic crisis? It means that he is, in fact, not at all diversified. His investments, whilst having the appearance of diversification, are tied up almost entirely in banks and the stock market.

In the US (in 2010), Canada (in 2013) and the EU (in 2014), governments have passed legislation allowing banks to confiscate (steal) depositors’ funds, should they (the banks, not the government) decide unilaterally that they have an “emergency situation.” This, of course, is like placing a steak on the table, asking the dog not to eat it, then leaving the dog in the kitchen alone, with no supervision.

Since all the above conditions are in existence now, what can the investor expect the future holds for him?

Well, let’s say that there’s a sudden spike in the gold price and a significant number of people (5%) holding gold decide to take delivery or cash out. Sellers would be unable to deliver, which almost certainly would result in a run on paper gold. A crash in paper gold would result.

Or, if the Chinese were to sell a significant amount (again, say 5%) of their US treasuries back into the American market, we might expect to see a crash in the dollar.

Or, if, say, Italy were to default on its debt, we could expect a crash in the euro.

If another “Lehman” failure were to occur, we might be looking at a bank panic, causing a freeze on deposits, coupled with confiscation.

If the world, much of which has already agreed to pay for oil in currencies other than the dollar, were to begin major settlements in, say, the yuan, the era of the petro dollar would end abruptly, bringing on a crisis.

Any of the above occurrences could trigger a crash that could wipe out what is now perceived as wealth. But these aren’t the only possibilities. If major players suddenly liquidated their ETFs, if a tariff war were to unfold, as in 1930, or if interest rates were to rise significantly … well, you get the picture. There are many possible triggers out there, each one capable of fomenting a crash.

An event as minor and as arbitrary as Mrs. O’Leary’s cow kicking over a lantern caused a city of rickety structures to burn. But, today, the economic barn is full of cows. Each is standing next to a lantern. And the economic structure is very rickety.

The reader can decide whether he feels comfortable tying his wealth up in bank deposits, the stock market, pension plans, gold ETF’s, etc. If he concludes that it may be time to “Get out of Chicago,” he would be in the minority. Historically, the great majority tend to believe in the status quo and assume that “planning for the future” means following the advice of bankers and brokers. But, with so many aspects of the economy so close to the edge, the odds of a spark setting off a conflagration are very high.

Of two things we can be certain. The resultant damage caused by the crash will be far more extensive than with the Chicago fire. And in the age of computers, the destruction of wealth will spread far more quickly than the fire.

*  *  *

Unfortunately most people have no idea what really happens when the stock market collapses, let alone how to prepare… The coming economic turmoil is going to be much worse, much longer, and very different than what we’ve seen in the past. That’s exactly why New York Times best-selling author Doug Casey and his team just released an urgent video. Click here to watch it now.

Only One Step Away From A Global Trade War

Posted: 12 Dec 2016 11:00 PM PST

Submitted by Valentin Katasonov via Strategic-Culture.org,

The financial crisis of 2007-2009 effectively terminated the process of globalization. In 2015 world trade suddenly dropped by more than 10% for the first time since 2009. Nothing like this has been seen since the Great Depression of the 1930s. But some politicians, public figures, scholars, and journalists continue to talk about globalization as an «objective» and «progressive» process, even though it has already ended.

The world has embarked on a new era. One important hallmark of this era is the strengthening of protectionism in international trade and investment, the splintering of the global market into trade and economic zones, and even the move to regulating trade on a bilateral basis. According to the WTO, just in the period between October 2015 and May 2016 the G20 countries adopted 145 laws aimed at strengthening trade barriers, and over 1,500 such laws have been adopted since 2008. In total, according to estimates by the renowned British economist Simon Evenett, there are close to 4,000 protectionist laws and regulations on the books around the world. And the countries of the G20 - where over 90% of global trade originates – are responsible for 80 % of those trade barriers.

Donald Trump jumped nimbly onto this bandwagon with campaign slogans promising to revitalize America’s weakened position in world trade – mostly by relying on protectionist measures:

First - he would halt the negotiations to draft the Transatlantic Partnership Agreement between the US and the EU and refuse to ratify the already-signed Trans-Pacific Partnership Agreement.

 

Second, he would either find a way out of NAFTA or would completely revise the terms of that treaty with the other parties (Canada and particularly Mexico).

 

Third, he would use bilateral agreements to frame American trade and economic relations with the rest of the world, while simultaneously moving away from a policy of multilateral or even global regulation of world trade (to the extent that the US is ready to refuse to take part in the work of the WTO).

 

Fourth, he would completely revise the terms of America’s trade and economic relations with China: increasing the typical level of import duties on Chinese goods to an average of 45% and adopting protectionist measures in connection with what is known as Beijing’s currency war (the artificially weak yuan compared to the US dollar).

Obviously the dogged and headlong pursuit of such a consistently protectionist program could not only strain relations with many of Washington’s trading partners, but could even trigger a trade war. In June the US president-elect thus described American-Chinese economic relations, «We already have a trade war and we’re losing badly». By the spring of 2017 we are likely to hear of his first practical steps to restructure or «adjust» Washington’s international trade policy.

Trump’s protectionist mantras are already being echoed around the world. America’s trading partners are considering retaliatory measures. These are primarily the countries with which the US has the largest trade deficits. In 2015 America’s biggest trade imbalances were with the following five trade partners (in billions of dollars): China - 365.7; Germany - 74.2; Japan - 68.6; Mexico - 58.4; and Vietnam - 30.9. China’s currently astronomical magnitude of foreign exchange reserves is the flip side of the active trade surplus with the US that China has been building up each year. During the 15 years of its membership in the WTO, China has stockpiled a favorable balance of $3.5 trillion from its trade with the US.

The flames of a global trade war could flare up even before Donald Trump moves into the Oval Office. A very important date is right around the corner – Dec. 11, 2016, memorable because that is when China became a full member of the WTO, precisely 15 years ago on Dec. 11, 2001. But many are awaiting Dec. 11, 2016 with tension and fear. Why is that? Because in accordance with the terms of that 15-year-old agreement, China is to be granted the status of a «market economy» no later than Dec. 11, 2016. This is a title it still lacks. According to the WTO’s rules, the member states of this organization can take measures to protect their markets from products exported from countries that are not «market economies». The idea is that countries that have not been awarded the status of «market economies» are propping up their exporters, in one way or another. This includes different types of state subsidies, including surreptitious varieties such as tax breaks. The WTO views public-sector companies with the gravest suspicion. And that would describe a great many of China’s exporters. To protect themselves against exports from such countries, the «civilized» members of the WTO have the right to impose anti-dumping duties, which are sometimes several times higher than the customary tariffs. The WTO does not make the decision to recognize the «market» status of an economy in a centralized manner - that is determined by individual member countries or groups of countries. But Beijing believes that under the terms of China’s 2001 membership agreement with the WTO, after Dec. 11, 2016 all WTO members must adjust their relationships with China in order to take into account the fact that it is now a «market economy». In other words, a mechanism is in place to automatically enforce this provision.

At the beginning of this decade the European Union made it clear to Beijing that China was still very far from a «market economy». And over the course of those years the EU – out of all China’s trading partners - held the record for the most frequent imposition of anti-dumping duties against Chinese goods, especially the products of China’s steel industry. In the past year, Brussels has repeatedly stated that the Chinese economy is still far from being «market-based», and therefore there can be no question of China automatically receiving its desired status. Currently the EU has 68 anti-dumping measures in effect, 51 of which are levied against Chinese goods. These duties can exceed 65% and are imposed on a wide range of products, ranging from steel to solar panels.

Thus, tensions are growing, not only in Beijing’s relationship with Washington, but also with Brussels. Last summer the European steel association Eurofer released a very emotional statement in which it once again demanded that European countries not recognize China as a market economy under any circumstances. That association claims that since 2008 the European steel industry has lost about 85,000 jobs, equal to over 20% of that workforce. According to Eurofer, over the past 18 months China has doubled its exports of rolled steel to the EU. The Eurofer report includes an assessment of not only the steel industry, but also the entire EU economy: due to increased imports of Chinese goods, the EU could lose up to 3.5 million jobs in 25 industries after December 2016.

But there is no consensus within the EU itself about how to proceed in relation to China. In particular, countries such as Spain and Italy are categorically opposed to awarding China the status of a «market economy». Germany is in favor, but has some reservations. The UK was also in favor (without any reservations), although no one in the EU is interested in its opinion any longer. Some EU bureaucrats are willing to accept China’s automatic transition to this new category after Dec. 11, but reserve the right to resort to anti-dumping duties against Chinese goods in «exceptional cases». Representatives of the EU’s ferrous metal industry will only agree to award China this new status if the latter accepts the requirement to eliminate its «excess capacity» for producing ferrous metals. The European Commission (EC) was willing to allow China to automatically be granted this new status on Dec. 11, but the European Parliament unexpectedly rose up in opposition to the EC last May when it passed a harsh anti-China resolution regarding the status of China’s economy.

Beijing, in turn, is trying to encourage the EU to make decisions that are favorable toward China. Sometimes it employs the carrot (for example, the reduction of «excess capacity» in the steel industry) and sometimes the stick («Europe should think twice before it makes a final decision regarding China’s market economy», warned the state-run Xinhua News Agency in the light of May’s European Parliament resolution).

Washington is also keeping its finger on the pulse of this argument. Currently China and the US are trading partners of roughly equal size for the European Union. So if the European Union does in fact recognize China’s market-economy status, that will remove the last hurdle for China’s expansion in Europe. And America’s trade position in the European market will take a corresponding turn for the worse.

This is currently a quiet time of the year for Washington politics. Europe has been left to face China single-handedly and it will have to make its own decision about the status of the Chinese economy. However, even if Brussels reaches its verdict with the political support of the American president (regardless of whether that is Obama or Trump), it will still be faced with a choice between a bad and a very bad option. Either one will trigger a major (global) trade war. Taking into account the mentality of EU bureaucrats, I suspect that they will drag their heels on this crucial decision for an indefinite period. Therefore, the European Union will most likely officially recognize the market economy status of China’s economy, but with the provision that in «exceptional cases» it will continue to resort to anti-dumping duties against Chinese goods.

I believe that by next summer, when Trump has begun to take practical actions on multiple fronts, including work to fundamentally restructure the rules governing global trade, this confusing timeout in the Chinese-European relationship will be over. It is likely to be followed by a sharp flare-up in the trade and economic relationship between the EU and China, which will intensify into an all-out trade war.

Isolated trade-war hot spots that are starting to smolder in different parts of the world could quickly converge into a single major, global, trade-war conflagration.

*  *  *

Addenda: The US Congress created the US-China Economic and Security Review Commission to furnish itself with advice and research. On Nov. 16 that commission released its 550-page annual report. To briefly sum up the content of the report, its conclusion is clear: China does not yet qualify for the status of a «market economy».

ANONYMOUS GUY exposes PUTIN on NEW WORLD ORDER "He Wants to Destroys the NWO and dominate the World"

Posted: 12 Dec 2016 10:00 PM PST

TV NEWS: PUTIN exposes USA! Important News!! How to survive on 2016/2017 event! Gold Tips! Very important Information! Please take a look and Share... Share... because this video must be shared with max number of people! make your part now, please share it! Because the Government Cover-up!...

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Globalists Are To Blame For Their Collapse, Not Russia

Posted: 12 Dec 2016 09:30 PM PST

 The globalist elite are blaming Russia for the people rejecting their policies of global destruction, but in reality it is their own hubris that has destroyed them. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free...

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Europe is Doomed. Don't believe it? Look at England - Britain - the UK.

Posted: 12 Dec 2016 09:00 PM PST

 Hasta la Vista Europe! What you're not being told about the refugee crisis and how it's destroying EuropeOur favorite new book reveals what is really happening across Europe. Here, a brief look at England - Britain - the U.K. ... in the new Europe. The Financial Armageddon Economic Collapse...

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25 Cities On The Brink Of Disaster: "Don't Be Here When Things Get Violent, Unsafe, & Fragile"

Posted: 12 Dec 2016 07:22 PM PST

Submitted by Mac Slavo via SHTFPlan.com,

The 21st Century is inching ever closer towards chaos… and the time to get out of the big city is upon us.

With economic conditions, growing crises, desperate populations looking to scratch by, and more hatred and division than at any previous point in American history, the city has become a dangerous and unruly setting – and finding yourseld in one that is falling apart could be the worst mistake you ever make.

People are living in bigger urban zones than ever before… these megacities are the hotspots of global activity. But many are also proving to be the most dangerous place to be in a collapse. Crime is rampant, order is shaken and many people become willing to take advantage of the situation. Many areas are vulnerable to natural disasters, and have already lost control during past emergencies.

In other places, widespread unemployment is simply taking its toll through increases in theft and violence. Whatever the reason, there are many places where things are falling apart, badly.

As Wired reported, disaster is looming on a worldwide basis, but some are approaching total collapse, thanks to a storm of factors:

Using data on 2,100 cities, Robert Muggah has found which factors make an area more likely to become violent, unsafe and fragile. The data show 30 cities on the brink of disaster and what could cause it.

screen-shot-2016-12-12-at-6-39-27-am

Infographic via Signal Noise.

Cities were rated based on factors including: conflict, fragility, population growth, unemployment rate, access to services, income inequality, air pollution, homicide rate, killings in terrorist attacks, political violence and the risk of natural disaster.

Natural disaster has proved very disruptive lately, as tsunamis and earthquakes have recently devastated New Zealand and rattled nearby Australia. Though things are fairly stable in these Western democracies, their geographical vulnerability to serious tectonic activity makes their civilization far than stable. Auckland, New Zealand made the list for risky cities.

But Haiti was even harder hit. The 2010 earthquake caused widespread devastation in a place that was already one of the poorest on the planet. The 2016 hurricane in Haiti proved that despite billions of dollars in donation, philanthropy and intervention by the likes of the Clinton Foundation, Haiti was still extremely vulnerable. Hundreds of thousands of people were once again displaced as their homes were destroyed; local governments and global NGOs did little to nothing to secure basic necessities, and the place remains one crisis away from total instability. Port-au-Prince, the capital and most populous city there is already a very risky and poverty prone place, and could become much worse in the wake of a disaster.

Of course, any number of urban areas in the war-torn Middle East and perpetual conflict zones of Africa has also made for very dangerous cities, with populations on the brink of disaster, and many individuals vulnerable to crime and violence on a daily basis. Ibb, Yemen, Kirkuk, Iraq, Aden, Yemen, Kabul, Afghanistan and Mosul, Iraq have become some of the worst locales, along with cities spread across the Congo, Mogadishu, Somalia and other highly disputed areas.

Brazil’s megacities are so saturated with the urban poor, and short on basic resources including drinking water, they literally millions of people are on the brink. Riots are possible, and a survival crisis could factor in for Sao Paolo, where 8 million people are at risk of having no access to water. Predictably, many cities in Colombia remain extremely fragile due to the ongoing drug war conflicts that have claimed lives, and left millions of people at the mercy of gang rule.

Venezuela has proven to be a special case, of near precision collapse, as its currency tanks and economic warfare brings people to their knees as they are forced to wait in line for rations, trade on the black market and deal in worthless cash. Socialism has worsened the problems created by the emergency drop in the oil prices. Caracas remains the biggest pool of hungry, poor and increasingly fed up people.

Guatamala City, Mixco and Villa Neuva, Guetemala as well as San Pedro Sula, Honduras were identified as particularly vulnerable cities in Central America, as refugees continue to seek amnesty in the United States to escape the ongoing turmoil in their own countries.

Perhaps surprising to some, many major European cities are quite vulnerable as well to global economic pressures via sharp increases in immigration, “rape” scandals and social concerns about terrorism.

London, UK is one of the wealthiest cities, and yet it faces enormous pressures from overwhelming immigration, from growing economic disparity and from cultural clashes, threats of terrorism – and now, fighting between political factions over Brexit and other issues.

The Eastern bloc is especially vulnerable to these pressures that could lead to a growing unrest. France, Germany, Sweden and Norway also face major instability over immigration and cultural issues.

But some of the most unstable cities on the planet rank among those in the United States.

Places like Baltimore, Detroit, Washington D.C., New York, Philadelphia and other cities across the map are still deeply divided often police and race issues. Many have seen serious riots, looting and unrest. These social wedge issues are still being pushed from moneyed political interests, while political divide after the direction of the country has become sharp.

Dallas, Texas just suspended pension payments for some of its civil servants, a sign that financial insolvency could create an epidemic during the next crisis. Several states, like California, have over promised benefits to state employees in the pension programs, without ever planning to pay for them. If people lose it, Los Angeles, San Francisco, San Diego and the whole of the surrounding areas could simply erupt. Similar problems have left Detroit, Michigan and Puerto Rico, the commonwealth island, extremely vulnerable to bankruptcy and economic apocalypse that could contaminate the nation and global within hours.

If a natural disaster, such as a hurricane, hits the East or Gulf Coast, tens of millions of people could be caught up in traffic, locked in cities without food, and desperate to cling to order and survive. Likewise, if a major earthquake hit the West Coast, millions could be displaced and left without many options. That’s when things turn ugly.

The world is reaching a tipping point, and much chaos and instability could come crashing down anytime now. Many cities have made themselves open targets for collapse, with economic normalcy already hanging by a thread and populations already restless and growing increasingly discontent.

Be prepared. These things are building, and there are quite a few places you’d rather not be when the SHTF.

Venezuelans rush to stash cash before biggest bill is voided

Posted: 12 Dec 2016 07:16 PM PST

By Andrew Rosati
Bloomberg News
Monday, December 12, 2016

Venezuelans on Monday were wearily rushing to deposit bank notes or dump their cash savings entirely following an announcement by President Nicolas Maduro that he was invalidating the country's biggest bill because of what he says is an attack on the nation's liquidity.

The socialist leader shocked the country on Sunday when he said the 100-bolivar note would be removed from circulation within 72 hours. For months, the South American nation has suffered a hard-cash shortage as inflation spirals toward 500 percent, which Maduro insists is the product of an "economic war" and an attempt by his political foes to smuggle currency out of Venezuela.

Maduro doubled down on those claims Monday evening, ordering an "inevitable, necessary, radical" measure to close his country's border with Colombia for three days while authorities yank the bills from circulation. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2016-12-12/venezuelans-rush-to-s...



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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-...



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Global Chaos And The Road To $1,000 Silver

Posted: 12 Dec 2016 06:17 PM PST

With interest rates soaring, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, spoke with King World News about coming global chaos and the road to $1,000 silver.

Global Chaos And The Road To $1,000 Silver

BREAKING: Trump Responds To CIA Report On Russian Interference In His Election Victory!

Posted: 12 Dec 2016 05:30 PM PST

 BREAKING: Trump Responds To CIA Report On Russian Interference In His Election Victory! 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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Russian Hackers a "False Flag" says John Bolton, former Ambassador to the U.N.

Posted: 12 Dec 2016 04:30 PM PST

 John Bolton, former ambassador to the United Nations, suggests the alleged Russian hack into the DNC emails is a false flag. Media analyst Mark Dice has the story. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free...

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BREAKING -- Trump just announced he will run for 2020 Elections

Posted: 12 Dec 2016 04:00 PM PST

BREAKING: DONALD TRUMP JUST MADE HUUUGE ANNOUNCEMENT ABOUT 2020 ELECTION!  Way to go Donald Trump!  Danny Gold for Liberty Writers reports, One of the biggest questions all of us have been asking ever since Trump beat Hillary to become President of the US is "Will he run again in 2020?"...

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Gold Seeker Closing Report: Gold and Silver Gain With Oil

Posted: 12 Dec 2016 01:15 PM PST

Gold fell $7.47 to $1151.53 in Asia before it climbed up to $1165.65 in early afternoon New York trade and then drifted back lower in the last few hours, but it still ended with a gain of 0.28%. Silver rose to as high as $17.191 and ended with a gain of 1.31%.

Why Trump Will Be Good For Precious Metals and Junior Miners

Posted: 12 Dec 2016 01:07 PM PST

Gold and silver could once again be ready to rally possibly starting in days or in the beginning of 2017.  Investors have been selling  precious metals in fear of rising rates and choosing to chase after gains in the stock market or hold a rising US dollar.  This strong US dollar in relation to other collapsing currencies has made it very difficult for miners and explorers over the past few years. The dollar is hitting a 15 year high making it very hard and expensive for our mining and manufacturing sector.  That could change quickly under Trump as he has already committed to taking on other nations who have been devaluing their currencies to gain a competitive edge with trade.

The junior mining sector has been in a bear market due to this rising dollar and QE Taper since 2011 while other nations have been devaluing their currencies.  The bear market in precious metals and junior miners appeared to end in the beginning of 2016 but was smacked down as the rise of Trump in the US  has even pushed stocks and the US dollar even higher.  Meanwhile precious metals and the miners remain dirt cheap testing major support.

The precious metals are very oversold and ripe for a reversal.  I believe Trump will support inflation and infrastructure and should run into even further deficits.  I believe the Euro is slowly disintegrating.  China, India and Russia are crashing their currencies to support their economy through exports.  The Middle East Sunni Shiite War is worse than ever.  All this uncertainty leads me to want to hold gold and silver not fiat currencies.

The QE taper and fear of rising rates has caused gold to correct in US dollar terms meanwhile its soaring in terms of Yen, Euro and Yuan.  However many are concerned Central Banks worldwide are secretly suppressing gold and silver prices manipulating prices lower.  Remember it suits the Central Banks to keep the price low as they are some of the largest buyers during this pullback.  They don’t want the average Joe to pull their cash burning a hole in their pocket in favor of gold and silver coins.

The victory of Trump for US President caused a huge selloff in precious metals and miners as investors focused on the banks as interest rates soared.  There was a huge risk on rally as investors bought stocks and dumped bonds and precious metals.  However, that first reaction may be a knee-jerk one and cause a blow off move in stocks and the dollar.  Precious metals and mining may even grow greater in favor under President Trump.  Trump wants inflation and supports mining and manufacturing which has been almost destroyed over the past eight years by regulations.

I like this new gold producer in Papua New Guinea. The management team includes some of the top mine builders and financiers in the metals business who are well known for building value for shareholders.

They bought a great project from Barrick Gold at what could be the bottom of the market. It is an exceptionally high grade resource at over 10 g/t where over $40 million was put into exploration drilling by prior operators. Barrick put millions of dollars into this project which includes underground mine development, housing, a tailings pond, paved access roads…etc.

This new gold producer is fast tracking production to reach around 50k ounces annually. These profits can then be used to fund discovery of neighboring ore bodies on the huge property.   The company just announced high grade results from the first exploration holes drilled at a nearby target along with copper and silver.  This is when things could really get exciting as they prove to the market the high grade upside potential.

It also could be time to buy some cheap high grade silver miners especially in the Yukon.  Between 1921 and 1988, the Keno Hill Silver District in the Yukon was a world-class silver producer, with more than 217 million ounces of silver produced at average grades of 44 oz/t silver, 6.7% lead and 4% zinc. These historical production grades would rank Keno Hill in the top 3% by grade of today’s global silver producers.

This silver producer is exploring in Keno Hill and just made a new high grade discovery within 1 km of a historic 90 million ounce silver mine. I believe silver could continue outperforming gold to the upside and this Canadian silver district which is much higher grade could get a premium as it does not present as much political uncertainty as Mexico or Bolivia.

Keno Hill has been mined for many years so there is existing infrastructure such as power and highway.  Another new silver explorer in Keno Hill believe there are more discoveries to be made and has become the second largest land owner in the district.  They have four historic producing mines with some of the highest grade historic production in the district.  They have a first class exploration team taking historical information and using modern techniques to develop drill targets to hopefully make another new high grade and large silver discovery in the district.

Disclosure: I own shares in linked companies. Owning securities and receiving compensation is a conflict of interest as I could personally benefit from a price/volume increase. Please do your own due diligence as this is not financial advice!

See my full disclosure and current list of featured companies by clicking on the following link:

http://goldstocktrades.com/blog/featured-companies-on-gold-stock-trades/

Investing in junior mining stocks and precious metals is very risky and could result in losing money. Buyer
Beware!

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Did Russia hack the U.S. election to help Trump?

Posted: 12 Dec 2016 01:00 PM PST

 FNC Senior Judicial Analyst Judge Andrew Napolitano on a CIA report that Russian hackers tried to help President-elect Donald Trump win the election. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative...

[[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://bobchapman.blogspot.com for full links, other content, and more! ]]

Elites Devastate India

Posted: 12 Dec 2016 01:00 PM PST

This post Elites Devastate India appeared first on Daily Reckoning.

[Ed. Note: Jim Rickards latest New York Times best seller, The Road to Ruin: The Global Elites' Secret Plan for the Next Financial Crisis (claim your free copy here) goes beyond the election and prepares you for the next crisis]

When the ideas of academic economists are put into practice in the real world, the outcome is usually failure.

Invariably, what sounded fine in the faculty lounge turns into a disaster when real people become guinea pigs in monetary experiments. There are many examples, from the abandonment of gold by the U.S. in 1971 to reckless money printing of QE1, QE2, and QE3 from 2008 to 2014.

The latest disaster is in India. As usual, the highly educated political elites implemented a hare-brained policy, and the poor are left to suffer the worst consequences.

On November 8, 2016, while the world was awaiting the results of the U.S. presidential election, Prime Minister Modi of India declared that 86% of banknotes in circulation in India were contraband — no longer legal tender. This decree represents one of the largest wealth confiscations in history. The Indian economy, seventh largest in the world, has been thrown into chaos as a result.

The disaster in India is just beginning.

Prime Minister Modi of India declared 1,000 and 500 Rupee notes to be illegal

Prime Minister Modi of India declared 1,000 and 500 Rupee notes to be illegal. Indian citizens lined up to exchange the illegal notes for credits to digital accounts. They found banks closed and ATMs offline. Riots emerged in some places.

Apart from being the seventh largest economy in the world (over $2 trillion in annual GDP), India has the second largest population (about 1.3 billion people, not far behind China), and is the seventh largest country by landmass. In short, India is a juggernaut, not some smallish state like Cyprus where monetary experiments have also been imposed.

Despite aggregate wealth and size, India is undeniably poor on a per capita basis. Its annual per capital income is about $1,600, ranking India 140 among the 189 members of the IMF, just behind the small island nation of the Solomon Islands.

Even that low per capita number does not capture the extreme income inequality in India. There is a large middle class of perhaps 300 million people with an average annual income of about $7,000 per person, considered middle-income by global standards. This leaves the remaining 1 billion people with an average income of only $600 per year. Truly a tale of two countries.

For a country with those demographics and economics, reliance on cash is not surprising. While cell phones and digital payment systems are spreading, and may be the wave of the future, India is overwhelmingly a cash economy today.

Into this mix was thrown a dangerous economic experiment thought up by some big brains at Harvard, including Professors Larry Summers and Ken Rogoff. Summers has been banging the drum for the elimination of the $100 bill in the U.S. Rogoff has gone further calling for the complete elimination of cash.

Their ideas are gaining traction in places like Sweden, which is almost totally cashless, and Europe, where Mario Draghi and the European Central Bank recently halted the creation of new €500 notes. This global war on cash is covered in detail in Chapter One of my new book, The Road to Ruin.

The Prime Minister of India, Narendra Modi, is typical of the Summers-Rogoff global elites. He has a graduate degree from one of India's top universities, and is a regular attendee at G20 and BRICS leaders' summits around the world. His policies are based on the "neoliberal consensus" approved by the global elites. Applying global elite programs to a poor, traditional, cash-based society was a train wreck in motion, and now the train has jumped the rails.

As noted above, on November 8, Prime Minister Modi declared the 1,000 rupee note and 500 rupee note to be illegal. In case those sound like high-denomination bills, they're not. At current exchange rates, the 1,000 rupee note is worth about $14, and the 500 rupee note is worth $7; roughly equal to the $10 and $5 bills you probably have in your purse or wallet.

Citizens were allowed to bring these notes in and exchange them for smaller denominations, or a new 2,000 rupee note worth about $28.00. The problem was that the lines were horrendous and the economy shut down as millions waited in line to make the exchange.

The government compounded its incompetence by not printing enough of the new bills. Some banks closed because they quickly ran out of the new bills. Even worse, the new bills were a different size and did not fit in ATMs, so every ATM in India had to be shut down and recalibrated to handle the new sized bills.

A cash shortage in a cash-based economy meant that economic activity ground to a halt. Farmers and fisherman could not buy fuel or provisions needed to bring their crops or catch to market. Food shortages popped up; riots broke out in some places.

Finally, in a "guilty until proven innocent" twist, tax inspectors were waiting at the bank branches to interrogate those exchanging large amounts of the old notes. This dissuaded many from making the exchange in the first place.

A black market grew up in which you could exchange 1,000 rupee notes for, say, 700 rupees in smaller bills that were still legal. Those offering the exchange had political protection or paid bribes to avoid the tax scrutiny that came with the larger bills. This exchange is the ultimate market distortion — "cash" trading at a discount to face value because of government interference.

The government pretends this is all being done to flush out so-called "black money" and put an end to tax-avoidance and the underground economy. But, in a poor, rural, cash-based nation, the underground economy is the economy. The informal sector is not underground; it's normal.

What was Modi thinking? In a series of separate interviews between November 8 and November 30, Modi said the following:

Over the last three weeks, I have made a strong appeal for increased cashless transactions. Large volumes of liquid cash are a big source of corruption and black money. Today we live in an era of mobile banking and mobile wallets. Ordering food, buying and selling furniture, ordering a taxi…all of this and lot more is possible through your mobiles. Technology has brought speed and convenience in our lives.

I am sure most of you are using cards and e-wallets regularly but I thought I must share with you ways through which increased cashless transactions are possible. Learn how this digital economy works… Learn about card payments and other electronic modes of payment. Look at the malls and see how they function. A cashless economy is secure, it is clean. You have a leadership role to play in taking India towards an increasingly digital economy.

There you have it. Somehow, a poor village fisherman in a remote part of India is supposed to master "mobile banking…mobile wallets…and e-wallets" just like that. It's hard to think of a better example of just how out-of-touch the elites are with their own people.

Modi's statements also reveal the hidden agenda of the global elites. Moves like the one in India have nothing to do with tax evasion, which will continue anyway with the new larger bills. Modi's plan has everything to do with creating a cashless society where small savers are rounded up into digital pens at big banks. They are like lambs led to the slaughter through negative interest rates and asset freezes.

Despite Modi's protestations, his move was an historic blunder. It's too late to undo it. The damage to the Indian economy is done.

The effect of abolishing cash in a cash-based society is the same as any central bank reducing the money supply. It's a tightening policy move that will slow the Indian economy.

This makes India a much less attractive destination for foreign direct investment. Also the crackdown on cash is causing capital flight and increasing the demand for hard currency and gold.

But the elites will continue to push for the cashless society, regardless of the pain it causes everyday people. You need to be prepared.

Regards,

Jim Rickards
for The Daily Reckoning

The post Elites Devastate India appeared first on Daily Reckoning.

Economist Harry Dent predicts ‘once in a lifetime’ market crash, says Dow could plunge 17,000 points

Posted: 12 Dec 2016 12:40 PM PST

USA Gold

The Story of Your Enslavement By Stefan Molyneux

Posted: 12 Dec 2016 12:30 PM PST

 We can only be kept in the cages we do not see. A brief history of human enslavement - up to and including your own......... The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers ,...

[[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://bobchapman.blogspot.com for full links, other content, and more! ]]

Central banks are losing control of interest rates, Turk tells King World News

Posted: 12 Dec 2016 11:36 AM PST

2:36p ET Monday, December 12, 2016

Dear Friend of GATA and Gold:

Central banks are losing control of interest rates, which are signaling inflation and trouble for bonds and banks, GoldMoney founder and GATA consultant James Turk tells King World News today. An excerpt from his interview is posted at KWN here:

http://kingworldnews.com/james-turk-central-banks-are-finally-losing-con...

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



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Golden Predator Finds New Veins of up to 30.8 g/t Gold;
Airborne Geophysics Completed at 3 Aces Project in Yukon

Company Announcement
Monday, November 21, 2016

VANCOUVER, British Columbia, Canada -- Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) is pleased to announce additional surface exploration results and the results of airborne geophysical surveys from ongoing work at the 3 Aces project in southeastern Yukon, Canada. Highlights include:

-- Seven of Spades: Newly discovered zone with stacked flat lying quartz veins returning values up to 18.55 g/t gold.

-- Queen of Spades: Newly discovered zone with values up to 30.8 g/t gold.

-- Jack of Spades: Additional results from continuous panel sampling of a second higher bench returned 20 meters of 7.62 g/t gold including 11.7 g/t gold over 12.4 meters and 37.9 g/t gold over 1.7 meters.

-- Three of Spades: Additional assays have increased strike length of vein with returns including 6.95 g/t gold. ...

... For the remainder of the announcement:

http://goldenpredator.com/_resources/news/nr_2016_11_21.pdf



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

France is Ready for a Frexit -- Marine Le Pen

Posted: 12 Dec 2016 11:00 AM PST

The Netherlands will also have a leave EU campaign next year and i will vote leave this monster called EU dictators and corrupt undemocratic system The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists ,...

[[ This is a content summary only. Visit http://financearmageddon.blogspot.com http://bobchapman.blogspot.com for full links, other content, and more! ]]

Mining giant Agnico Eagle buys into Yukon's White Gold district

Posted: 12 Dec 2016 10:03 AM PST

By Dave Croft
Canadian Broadcasting Corp., Toronto
Monday, December 12, 2016

Yukon prospector Shawn Ryan says a deal has been struck to bring another major gold mining company into the White Gold district, south of Dawson City.

Agnico Eagle Mines Ltd. has bought a stake in thousands of mining claims originally owned by Ryan. A statement from the company says it bought 19.93 percent of the shares of the soon-to-be-named White Gold Corp. for $14.52 million.

Ryan said an associate of his formed the new Vancouver-based company, which then bought all his claims in the district -- 12,300 of them, spread over 21 properties. Ryan said he received $3.5 million and 7 million shares in the new company.

Together they then offered a package deal to major mining companies that included a stake in the shares and a three-year exploration program conducted by Ground Truth Exploration, a company jointly owned by Ryan's wife, Cathy Wood, and long-time associates Isaac Fage and Tao Henderson. ...

... For the remainder of the report:

http://www.cbc.ca/news/canada/north/yukon-agnico-eagle-gold-buys-stake-1...



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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

Bloomberg notes silver riggers' collusion, so how about central banks' collusion vs. gold?

Posted: 12 Dec 2016 09:48 AM PST

12:53p ET Monday, December 12, 2016

Dear Friend of GATA and Gold:

Bloomberg News today excerpts some of the most incriminating electronic exchanges between bullion bank traders colluding to manipulate the silver market, exchanges documented by Deutsche Bank as part of its settlement of the class-action lawsuit brought against it in federal court in New York.

Bloomberg's report is headlined "'3, 2, 1, Boom' -- Silver-Fixing Allegations in a Dozen Chats" and it's posted here:

https://www.bloomberg.com/news/articles/2016-12-12/-3-2-1-boom-silver-fi...

Maybe someday Bloomberg will muster the courage to report the collusion of central banks in manipulating the gold market, collusion documented by GATA here --

http://www.gata.org/node/14839

-- and brought to Bloomberg's attention by GATA many times over many years.

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



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We Are Amid the Biggest Financial Bubble in History;
When It Bursts, Bullion Owned in the Safest Way Will Protect Wealth

With GoldCore you can own allocated -- and most importantly -- segregated coins and bars in Switzerland, Singapore, and Hong Kong.

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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

Singapore is a safe haven for gold investors

Posted: 12 Dec 2016 08:51 AM PST

By Andrea Soh
The Straits Times, Singapore
Monday, December 12, 2016

SINGAPORE -- Two years after the Great Financial Crisis, Michael Tan (not his real name) took his life savings and converted 70 percent of it into precious metals.

As the world picked through the debris of the post-Lehman era, the 38-year-old liquidated several insurance policies so that he could buy the bullion, never mind the penalty for early withdrawals.

His reason for this radical move?

... Dispatch continues below ...



ADVERTISEMENT

Market Analyst Fabrice Taylor Expects K92 Shares to Rise
as Company Commences Gold Production and Gains Cash Flow

Interviewed on Business News Network in Canada, market analyst and financial letter writer Fabrice Taylor said shares of K92 Mining (TSXV:KNT) are likely to rise, even amid declining gold prices, because the company has begun producing gold at its mine in Papua New Guinea:

http://www.bnn.ca/video/fabrice-taylor-discusses-k92-mining~1008356

Taylor cited the company's announcement here:

http://www.k92mining.com/2016/11/6114/



A deep distrust of the financial system.

"The crisis got me thinking," the private educator said.

"It's not because (the banks) don't do a good job, but if everything is online there's no way it's foolproof compared to your wealth held in your own hands."

These are unsettling times.

A recession looms. Extremist parties are on the ascent globally.

One of the oldest banks in the world is on the brink of collapse in Italy.

A sense of unease is on the rise, but with it, Singapore's safe-haven status has soared.

As investors the world over seek refuge in precious metals, they need somewhere to put all of it, and that somewhere, for many of them, is Singapore.

Commercial vaults on the island have quietly begun to bulge with gold and silver.

Even as the price of gold rose 11 percent to about US$1,177 (S$1,685) an ounce this year, the amount of gold and silver stored with Malca-Amit in the city-state has jumped some 45 percent in tonnage in the past year.

The secured logistics company's three facilities in Singapore totalling 1,240 square meters are now about three-quarters full, said the managing director of Malca Amit Singapore, Ariel Kohelet.

At The Safe House, operated by precious metal dealer Silver Bullion, the amount of silver has soared by 130 percent, or 2.3 million tonnes, on an annualised basis from last year.

The amount of gold stored there has increased by half from last year, or 20,000 troy ounces, according to Gregor Gregersen, founder of Silver Bullion.

Independent secured storage companies like these two are making hay as investors, increasingly wary of the banking system, move their precious metal out of private banks.

Joshua Rotbart, who owns an eponymous business helping customers worldwide to buy, sell, store, and transport gold, silver, platinum, and palladium, said 70 percent of his clients want private storage solutions so they can have direct access to their precious metals.

"They don't want to be subject to the bank's regulations, or the government telling them yes, you can, or no, you cannot," he said.

"They want to be able to go to the vault and if needed, take it, or make sure it's there.

"It's a trust issue with the financial system."

Similarly, Gregersen sees increasingly more customers transferring existing precious metals from other vaults outside the country.

Some 90 percent of these customers are from the West, with half of them from the United States and the rest from Australia and Europe.

British customers are also increasing in number after Brexit, he said.

While Switzerland was a popular destination for precious metal storage in the past, many Swiss banks and vault operators stopped accepting individual American customers three to four years ago, because of an American law that attempts to curb tax evasion by its citizens.

Singapore and American banks, on the other hand, are more likely to take on U.S. customers.

Meanwhile, another common destination for the glittering metal, Hong Kong, has run up against its own set of challenges.

"Increasingly people are afraid that Hong Kong is ultimately under Chinese control and the 'one country, two systems' (governance framework) is becoming weaker," Gregersen explained.

Throw in the political unrest in the city and customers are becoming jittery enough to start transferring their precious metals from Hong Kong to Singapore.

"Every location for long-term storage is really losing its appeal for many of the customers," he said.

"Singapore is standing out as a jurisdiction that has been shown to be trustworthy and stable" and "slowly being recognised as the single best storage place for bullion."

While wealthy families from North America and Europe make up the bulk of those buying and storing physical gold and silver for investment purposes, the trend is starting to take off in Southeast Asia as well, Rotbart said.

Requests for large amounts of bullion, reaching as high as US$5 million (S$7.1 million) in one go, started trickling in last year, though he adds that such cases remain in the minority.

"The majority still buy and keep it in their house or office. And they buy as they go, when they have a child or anniversary," he said.

Southeast Asians have a history of investing in gemstones, so they are familiar with the concept of storing wealth in tangible assets such as gold.

Tan, who put nearly three-quarters of his liquid assets into gold and silver, said there are two ways to store bullion: either with Cisco's storage facility or at home in a safe or hiding spot.

"To steal bullion is not that easy because it's heavy," he said.

He stresses that if one is buying precious metals to avoid exposure to the banking sector, then one should not store them with the banks.

"Because if the banks go bust and get nationalised, everything within it will be taken away. It will not be yours."

But as companies such as Silver Bullion offer innovative services such as peer-to-peer lending backed by precious metals, Singapore-based investors are starting to bring their bullion out of their homes.

"We see customers who bring the gold from home ... especially silver, which is more bulky, because they want to get a loan for 3 percent," said Gregersen, who emphasises that Silver Bullion ensures that investors have legal ownership of the precious metals stored with the company.

For investors who buy gold and silver bullion, a common concern is having legal ownership of the precious metal in storage, also known as allocated metal.

Under this system, investors normally have serial numbers or identification marks that tie the bars or coins to them, as opposed to unallocated gold or silver that is the property of the bank or vault.

Like many others, So Kai Tong, a 53-year-old private investor, buys gold and silver as a form of insurance.

"You hope that you don't need to use it," he said.

If the gold price reaches US$10,000 (S$14,300) an ounce, "you know the rest of the world sucks already."

* * *

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

Indian gold imports said to jump to year's high in November

Posted: 12 Dec 2016 08:38 AM PST

By Shruti Srivastava and Swansy Afonso
Bloomberg News
Monday, December 12, 2016

Gold imports by India, the second-biggest consumer, are said to have climbed 10 percent in November to the highest this year, according to a person familiar with provisional Finance Ministry data. Demand increased as jewelers built up stockpiles for the marriage season, a trade group said.

Overseas purchases rose to 111 metric tons from 101 tons a year earlier, the person said, asking not to be identified as the data aren't public. For the 11 months through November, shipments slumped 43 percent to 513.9 tons from a year earlier, according to provisional ministry data compiled by Bloomberg. Finance Ministry spokesman D. S. Malik declined to comment on the data. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2016-12-12/indian-gold-imports-s...



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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-...



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

India's top gold import bank suspends some bullion dealer accounts

Posted: 12 Dec 2016 08:32 AM PST

By Rajendra Jadhav and Devidutta Tripathy
Reuters
Monday, December 12, 2016

MUMBAI, India -- Axis Bank Ltd., India's top importer of gold, has suspended the bank accounts of some bullion dealers and jewellers after two of its executives at a branch were arrested over alleged money laundering.

The move is likely to curtail imports by the world's second-biggest gold consumer this month and could weigh on global prices already near their lowest level in 10 months.

"We have temporarily suspended transactions in a few current accounts as a part of a larger enhanced due diligence exercise being conducted on transactions post-demonetization," the bank said in an e-mailed reply to questions from Reuters.

Prime Minister Narendra Modi scrapped 500-rupee and 1,000-rupee banknotes on Nov. 8 in a bid to flush out cash earned through illegal activities, or earned legally but never disclosed to tax authorities.

There have also been reports of people rushing to buy gold by paying as much as a 50 percent premium above official prices using their unaccounted money to skirt the note ban. ...

... For the remainder of the report:

http://www.reuters.com/article/india-gold-axis-bank-idUSL4N1E43L0



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Golden Predator Finds New Veins of up to 30.8 g/t Gold;
Airborne Geophysics Completed at 3 Aces Project in Yukon

Company Announcement
Monday, November 21, 2016

VANCOUVER, British Columbia, Canada -- Golden Predator Mining Corp. (TSX.V:GPY, OTCQX:NTGSF) is pleased to announce additional surface exploration results and the results of airborne geophysical surveys from ongoing work at the 3 Aces project in southeastern Yukon, Canada. Highlights include:

-- Seven of Spades: Newly discovered zone with stacked flat lying quartz veins returning values up to 18.55 g/t gold.

-- Queen of Spades: Newly discovered zone with values up to 30.8 g/t gold.

-- Jack of Spades: Additional results from continuous panel sampling of a second higher bench returned 20 meters of 7.62 g/t gold including 11.7 g/t gold over 12.4 meters and 37.9 g/t gold over 1.7 meters.

-- Three of Spades: Additional assays have increased strike length of vein with returns including 6.95 g/t gold. ...

... For the remainder of the announcement:

http://goldenpredator.com/_resources/news/nr_2016_11_21.pdf



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

Forced into digital transactions, Indians resume buying gold anyway

Posted: 12 Dec 2016 08:26 AM PST

Gold Jewellery Sales Pick Up Slowly After Falling 80%

By Sutanuka Ghosal
The Times of India, Mumbai
Monday, December 12, 2016

KOLKATA, India -- Gold sales have picked up by 40-50 percent this month as consumers are getting used to digital transactions to purchase the metal.

Gold jewellery sales are slowly picking up after having tumbled 75-80 percent following the government's November 8 announcement demonetizing high-value old currency notes.

Jewellers and traders said consumers in metros and smaller towns are gradually opting for digital transactions to purchase the metal to take advantage of its its falling prices. Gold price has softened 11% since November 8.

More importantly, artisans in the gold trade, who were asked to return home as orders dried up, are slowly returning to work. ...

... For the remainder of the report:

http://economictimes.indiatimes.com/markets/commodities/news/gold-jewell...



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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...



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SWOT Analysis: What Could Strengthen Gold Heading Into 2017?

Posted: 12 Dec 2016 07:05 AM PST

The best performing precious metal this week was silver with a gain 0.76 percent. Electronic chat documents released by Deutsche Bank show that UBS and Deutsche Bank, along with others, regularly conspired trades with one another to trigger stop-loss orders, coining the name "STOP BUSTERS" for themselves, according to court documents. Plaintiffs contend that the records show these banks conspired to fix the spread on silver offered to customers and used illegal strategies to rig prices.

Friction and Gravity

Posted: 12 Dec 2016 06:35 AM PST

The big story this week is the silver manipulation lawsuit. We remain flabbergasted that people think the price of a commodity could be suppressed by 75% (or a lot more, by some allegations) for years. We also note that the anger is not on the part of silver buyers. It's would-be sellers who are upset. They wanted to sell at higher prices, and they allege the banks beat them to it, and the price fell before they could unload.

Gold and Silver Market Morning: Dec 12 2016 - Gold and Silver break down again!

Posted: 12 Dec 2016 06:03 AM PST

While Shanghai prices fell, they did not follow New York leaving New York at a higher discount to Shanghai of $29.21. London opened at a higher discount to Shanghai of $33.21. This further emphasizes that the two markets are structurally different to each other. The physically settled Shanghai transactions and the paper transactions of New York and London. The London OTC [over the counter] markets is one where well over 95% of transactions are closed out before maturity.

Euro Crisis and Contagion Coming In 2017

Posted: 12 Dec 2016 05:57 AM PST

The bout of euro strength we have seen in recent months is unsustainable and will in time give way to the euro weakening against gold. Gold will again hedge and protect investors and savers in the EU from euro weakness as it did during the financial crisis. The dollar has had a massive rally and looks overvalued versus most currencies and indeed gold. U.S. assets have increasingly poor fundamentals and both U.S. stocks and bonds look vulnerable to sharp corrections and new bear markets.

The Yield That Breaks the Trump Rally's Back

Posted: 12 Dec 2016 05:10 AM PST

In 2012 I wrote a book called "The Coming Bond Market Collapse", in that book I predicted that the bond market would begin to collapse by the end of 2016. Clearly, this prediction has started to come true. However, in all candor, I never dreamed that the Ten-year Treasury yield would plummet to 1.3%. Neither did I ever imagine that over thirteen trillion dollars' worth of global sovereign bonds would have a negative yield, as was the case this past summer.

Buying Gold Into A Fed Hike: As Dumb As It Sounds?

Posted: 12 Dec 2016 03:24 AM PST

The Fed will hike rates this week. The US Dollar is strengthening. Fiscal policy is about to ignite economic growth. The ECB has reduced its rate of QE purchases. It doesn’t sound like now is the time to be buying gold, does it? And yet, the setup is remarkably similar to this time last year, before the yellow metal put in a near 30% rally. What matters most is not what will happen, but what will happen relative to expectations. It is fair to say that the market has some lofty expectations built in at present, which is why it could be a case of buying the rumour and selling the fact over coming months.

Breaking News And Best Of The Web

Posted: 12 Dec 2016 01:37 AM PST

Oil soars as non-OPEC producers join pact. US stocks at record, dangerously-high levels, Treasury bond yields jump again. Italian government may be forced to “bail in” major bank. Gold and silver stabilize after Friday’s COT report shows modestly bullish changes. The “fake news” debate intensifies.   Best Of The Web Dutch death spiral – from […]

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

Bonds and Gold in Unusual Correlation

Posted: 11 Dec 2016 04:00 PM PST

Gold prices have shown an unusually strong correlation to bond prices this year. This is not normal, and the two are not usually marching in lockstep like this. The strong correlation began around May 2016. It may just be a coincidence that...

Back to Extreme Greed

Posted: 11 Dec 2016 04:00 PM PST

It only took a month. CNNMoney's Fear & Greed Index was at Extreme Fear early November just as US voters were thinking about who to elect as their next president. Today, it's back to Extreme Greed as the animal spirits run wild with Trump's proposals for trillion-dollar...

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