Thursday, December 22, 2016

Gold World News Flash

Gold World News Flash

The Dollar Bull Overstays Its Welcome

Posted: 22 Dec 2016 07:04 AM PST

Back in March 2008, as the Credit Crunch was biting, the US Dollar, as measured by the US Dollar Index (USDX), was bottoming after a drop of over six years fuelled by the War on Terror. Silver had previous topped out at about $21 and was later to visit $50 as the dollar faced the abyss again just above the 70 level. To date, that level has been the all time low for the USDX.

Northern Vertex advances Moss with a little help from its friends

Posted: 22 Dec 2016 06:11 AM PST

Money doesn't seem to be a problem these days for junior Northern Vertex Mining (TSXV: NEE), which is building a US$33-million open-pit mine complex at its Moss gold project in northwestern Arizona, and expects to pour its first gold in late 2017. In fact, Northern Vertex is sitting on US$10 million in cash, after recently closing a US$7.4-million convertible debenture offering and securing a US$20-million senior secured credit facility from Sprott Private Resource Lending. Another US$8.5 million is under negotiation for financing equipment.

Doug Casey Warns "We're Going To Have Financial Chaos... It's A Dangerous Situation"

Posted: 22 Dec 2016 12:30 AM PST

Submitted by Mac Slavo via,

Doug Casey is the founder of Casey Research and well known for his forecasting prowess, having accurately called the crash of 2008 and many other trends over the last four decades. In his latest interview with Future Money Trends Casey explains what a Donald Trump Presidency will mean for financial markets, economic stimulus, and geo-politics. As he’s noted previously, 2008 was just the first part of the storm and we are rapidly approaching the trailing edge of the hurricane. This time around it’s going to last much longer and be much worse than what we experienced before.

In short, as Casey succinctly explains:

The one thing I feel very confident of is we’re going to have financial chaos in years to come and that’s going to drive people into gold and to a lesser degree into silver.



There’s absolutely  no reason from  fundamental point of view for bonds and stocks to be as high as they are right now… We’re in for a huge political, financial, demographic and military upset… these people might start World War III or seem like they’re trying to with the Russians… It’s a very dangerous situation.

(Watch At Youtube)

With Donald Trump set to take office in late January 2017, Casey believes his infrastructure initiatives will be a boon for the commodities industry:

I really believe him. I think that they’re going to push for doing lots of infrastructure in the U.S. and that’s going to take a lot of metals, so that’s a favorable short-term influence for metals… I can be talked into buying a copper or zinc or cobalt stock, but I want to stick with gold… and also uranium… I really think that the future of power generation is going to be in solar related things…. but at the present moment, by far the cheapest, the cleanest and the safest form of mass power generation is still nuclear… that’s exactly the opposite of what everybody is told… but especially if we have a de-regulated environment in the future, nuclear is going to do well… There are about 150 new nuclear plants under construction around the world… most of them in China and India… I’m very bullish on uranium… it’s selling below the cost of production.

But despite President Trump’s best efforts, says Casey, he won’t be able to stop the bloodbath coming in the bond market, a preview of which has been available for all to view in China, where the government halted trading last week following a record bond market crash.

People forget that the last peak in interest was between 1980-1982 when T-Bills were yielding over 16%… since then interest rates have been in a 35 year bear market going to below zero, which i thought was metaphysically impossible… So, interest rates are going to go up… Low interest rates and negative interest rates are actually destructive of capital and civilization because it discourages people from savings.


It doesn’t matter what these stupid governments do… interest rates are headed up… and I think they’re headed way up for a long time at this point… so if you own bonds sell them… hit the bid. 

Ever the skeptic when it comes to information, disinformation and misinformation emanating from the mainstream media, Casey warns that the narratives being spun to divide Americans are dangerous to the stability of the nation and could lead to civil war:

It’s extremely serious.. The real fake news is what you hear on CNN, MSNBC, and even Fox… I don’t trust anything I hear… the mass media is basically the mouthpiece of the deep state… these people that have the money and have the power and basically treat the rest of the country as peons… they’re very dangerous… I actually think that the U.S. is on the ragged edge of a civil war… because the people that elected Trump are hated on a visceral level by the preachers that are around the Democratic Party and the Deep State, and that includes Republicans…

Paul Craig Roberts Warns "As the Coup Against Trump Fails, the Threat Against His Life Rises"

Posted: 21 Dec 2016 08:15 PM PST

Authored by Paul Craig Roberts,

The use of the presstitute media to deny Trump the Republican presidential nomination failed.

The use of the presstitute media to deny Trump victory in the presidential election failed.

The vote recount failed.

The effort to sway the Electoral College failed.

But the effort continues.

The CIA report on Russia’s alleged interference in the US presidential election ordered by Obama is in process. Faked evidence is a hallmark of CIA operations.

In their determination to seal Trump’s ears against environmental concerns, a group of environmentalists plan to disrupt the inauguration. This in itself is of little consequence, but chaos presents opportunity for assassination.

Trump himself seems to think he is in danger. According to MSNBC, Trump intends to supplement his Secret Service protection with private security. As there is evidence of CIA complicity in the assassination of President John F. Kennedy (film shows Secret Service agents ordered away from JFK’s limo immediately prior to his assassination), Trump, who is clearly seen as a threat by the military/security complex, is not being paranoid. MSNBC implies that Trump’s private security is to suppress protesters, as if government security forces have shown any compunction about suppressing protesters.

This provides an indication of the threat that the CIA sees in Trump:

John F. Kennedy famously threatened to "smash the CIA into a thousand pieces." But ultimately, the 35th president lost his solitary battle to completely break the power of the deep state.


Though I respect Kennedy, I believe Donald Trump is a much more serious proposition.


Donald Trump is Michael Corleone. He will keep his friends close, and his enemies closer (including the likes of John Bolton). But those he doesn't keep closer, he will ruthlessly "screw against the wall" for targeting him.


The no-nonsense Mike Pompeo, Trump's nominee for CIA director, will be the hatchet man for this merciless house cleaning operation.


Come January 20th, the reckoning begins.

Global Research’s Michel Chossudovsky has explained that Trump’s peaceful approach to Russia aligns him with oligarchs, whose wealth benefits from business deals with Russia, and puts Trump at odds with the military/security oligarchs, who benefit from the one trillion dollar annual military/security budget. The latter group have been in control since President Eisenhower warned us about them and can muster deep state forces against a Trump presidency.

To take on a group like this requires a tough SOB. Anything less than Trump wouldn’t have a chance. Indeed, if Douglas Valentine’s just published book, The CIA As Organized Crime (Clarity Press, 2017) is even half true, Trump’s life is certainly at risk.

Donald Trump is clearly no saint. Given what we are up against—dangerous tensions between nuclear powers and the military/security complex’s stake in these tensions—a saint is not what the situation calls for.

The military/security complex has been entrenched since NATO’s formation on April 4, 1949, a provocation that preceded by six years the formation of the Warsaw Pact on May 14, 1955. Any president willing to confront this entrenched deep state superpower deserves the support of all of us.

Man Who Stole $1.6 Million Bucket Full Of Gold In Midtown Manhattan Has Been Identified

Posted: 21 Dec 2016 07:35 PM PST

Three weeks ago we reported that in what may have been one of the most brazen thefts in Manhattan's jewelry district, a man brazenly swiped an 86-pound bucket full of gold worth $1.6 million from the back of an unattended Loomis armored truck on West 48th Street in the Diamond District on Sept. 29, in broad daylight, as tourists and locals were walking in and out of the jewelry stores that line the block.

The whole incident was caught on closed-circuit camera.

The suspect, decribed as 5 feet 6 inches tall, 150 pounds and in his 50s according to the police, managed to get away without a hitch. The police suspected that the unidentified man was lying low in Orlando or Miami until things blow over in the Big Apple.

Overnight the police not only identified the man, but according to their latest speculation, the gold thief has moved on from Florida, and is now to be found as far away from NY as possible.

On Tuesday, NYPD identified the man as Julio Nivelo. He is now believed to be in Los Angeles. NYPD Det. Martin Pastor says Nivelo, 53, is a convicted felon who's known to the NYPD as Luis Toledo, among other aliases. He's a career thief who's been arrested seven times and deported four times to his native Ecuador, according to Pastor. 

Nivelo, a native of Ecuador, fled to Orlando, Fla., before heading to California, WNBC reported on Tuesday night. Mr. Nivelo, who was living in West New York, N.J., at the time of the theft, had previously been arrested seven times and deported four times, the station reported.

Surveillance video from the the theft showed Nivelo loitering around the truck before one guard goes to make a pickup, and the other guard heads to the front seat to grab his cellphone. Those 20 seconds were long enough for the thief to strike: he goes to grab the 86-pound bucket - roughly half his weight - and makes a run for it, though he clearly has difficulty maneuvering it. The video shows the thief setting down the heavy bucket, putting it on his shoulder, then taking a breather. He takes another few steps and pauses again. The normally 10-minute walk takes him an hour. He then jumps into a van at 49th Street and Third Avenue.

The police released several photos of Mr. Nivelo. Nivelo was a man about town before the heist, it appears: photos show him posing at Washington Square Park and with a figure of the pope at Madame Tussaud's Wax Museum.


Loomis has offered a $100,000 reward for information leading to his arrest and conviction, police sources said.

Below is the NYPD post seeking the public's help in finding Nivelo... and the $1.6 million in gold that is supposedly in his vicinity.

* * *

WANTED: Burglary (Manhattan)

The suspect has been identified as follow:

  • Nivelo, Julio
  • AKA: David Vargas
  • 53 year-old Hispanic male
  • 5’5″, 155 pounds with dark hair.


The New York City Police Department is asking the public’s assistance identifying the individual depicted in the attached surveillance video and photographs in regard to a armored truck burglary that occurred within the confines of the MTN Precinct. Details are as follows:

 It was reported to the NYPD’s Major Case Squad that on Thursday, September 29, 2016, at approximately 4:30 p.m. an armored truck company making a pick up discovered that a 5 gallon aluminum pail weighing 86 pounds containing gold flakes (valued at 1.6 million dollars) was stolen from the rear of their armored truck.  The truck was parked in front of 48 West 48th Street between 5th and 6th Avenues. The unidentified individual is then seen lifting the 5 gallon pail from the truck and fleeing East bound on West 48 Street toward Third Ave. There are no reported injuries as a result of this incident.

The individual is described as a:

  •   Male Hispanic 5’6″, 150 lbs, 50-60 years old wearing a black vest, green shirt, blue jeans carrying a black messenger bag.

 Surveillance video and photos of the individual were captured near the corner of 5th Avenue and 48th Street.  The video shows the suspect fleeing with the stolen black aluminum 5 gallon pail.

 Anyone with information in regards to this incident is asked to call the NYPD’s Crime Stoppers Hotline at 800-577-TIPS or for Spanish 1-888-57-PISTA (74782). The public can also submit their tips by logging onto the Crime Stoppers Website at WWW.NYPDCRIMESTOPPERS.COM or texting their tips to 274637(CRIMES) then enter TIP577.

 All calls are kept strictly confidential.

Suicide Bombings and Islam: An Apologist's Guide

Posted: 21 Dec 2016 07:30 PM PST

 Have the urge to say "suicide bombings have nothing to do with Islam"? Then this video is for you. A radical Muslim wants to chop off your head. A moderate Muslim wants a radical Muslim to chop off your head. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts ,...

[[ This is a content summary only. Visit for full links, other content, and more! ]]

Goldman Warns "China Remains A Key Risk", Sees Yuan Downside Accelerating

Posted: 21 Dec 2016 07:00 PM PST

With Bitcoin at 3 year highs, China’s renewed efforts to curb declines in its currency are doing little to stop yuan bears who have sent forward devaluation expectations to record highs and options positioning to six-month lows. And judging by Goldman Sachs' outlook - a potential resurgence in Chinese growth fears early next year, but more broadly, a continued bumpy deceleration - things are not getting better anytime soon.

As Bloomberg notes, traders have turned increasingly negative amid tighter liquidity, sending bets for further losses soaring. The gap between forward contracts wagering on the offshore yuan a year from now versus its current level is heading for a record monthly jump...


Just as the extra cost for options to sell the currency against the dollar hit a six-month high relative to prices for contracts to buy.


The currency is facing a triple whammy of accelerating capital outflows, faster U.S. interest-rate increases and concerns over domestic financial markets as liquidity tightens. Strategists say its weakening, set to be the biggest this year in more than two decades, may accelerate as the government restores the annual quota for citizens to convert yuan holdings into foreign exchange. And Goldman Sachs warns, China remains a key risk to watch...

Where we stand now:

Broader concerns about China risk derailing global growth and markets proved somewhat short-lived. After the S&P 500 hit its low for the year on February 11, two days after we published, better economic data and a sense that the Fed would react to global concerns—confirmed by the dovish March FOMC meeting—helped improve market sentiment. Political events in the western hemisphere have since broadly taken center stage in global markets, leaving China concerns in the background. But the reality is that growth—on some level—did take a hit; for example, US GDP growth came in at an anemic 1.1% annualized in 1H2016, owing in part to weakness in the industrial sector and energy-related activity but largely due to tighter financial conditions primarily in the wake of China concerns. China growth itself also remained relatively weak in 1H as measured by the GS China Current Activity Indicator, which declined towards 4% in 1Q and began to climb slowly thereafter.


Stabilizing growth in China has helped push China to the background of investor concerns. In order to stabilize growth and meet official GDP targets, China’s policymakers continued to pursue an ambitious stimulus plan begun in early 2015 that entailed pausing fiscal reforms, sharply cutting interest rates, loosening housing policies, and increasing credit growth. The result: GDP growth looks set to meet the target of 6.5%-7% for 2016, and producer prices are rising after years of deflation.


But policies that re-ignited growth in the short-term just increase concern about the future, especially in terms of credit. We estimate that total credit growth adjusted for muni bond issuance accelerated from 13% yoy in 1Q15 to 17% yoy as of 2Q16, and to 20% yoy when including shadow lending not captured in official statistics. In short, the potential credit problems in China have not receded, and indeed have likely grown given the very fast pace of credit expansion.


Policymakers have taken note of these potentially destabilizing dynamics and have refocused on risk management; indeed, China’s recent Central Economic Work Conference to plan for next year’s economic policy included strong statements on controlling financial risks. Risk management measures employed in recent months include increasing short-term repo rates, reining in off-balance sheet exposures such as wealth management products, and rolling out measures to try to curb home price appreciation. Fiscal policy also seems likely to tighten at least slightly in coming months. But any tightening will likely prove short-lived given that meeting growth targets will remain critical in 2017—a year of leadership transition.


Our RMB view has also become more negative, presenting risk to the US dollar and S&P 500. When we published at the height of market anxiety around China, we were relatively constructive on the RMB, arguing that a large, one-off devaluation was unlikely and envisioning only a “mild” trade-weighted depreciation (against the CFETS basket, the CNY has depreciated 4.5% since then). But capital outflow pressures have remained, particularly in the context of US dollar strength. Despite the government’s official focus on a trade-weighted currency basket, higher $/CNY fixings are still a powerful signal that can easily re-ignite capital flight, as households and firms anticipate a faster pace of depreciation.



Indeed, the PBOC’s FX reserves fell US$69bn to US$3,052bn in November, the largest decline since January. The US election has reinforced these dynamics given the strengthening dollar and potential for trade frictions, motivating tighter restrictions on capital flows. Global markets have so far taken these developments in stride, but the risk of a repeat of related equity market volatility remains, which could impact the pace of Fed tightening and dollar strength.

What to look for in 2017 (and beyond):

A potential resurgence in Chinese growth fears early next year, but more broadly, a continued bumpy deceleration. We expect sequential GDP growth to decelerate into 1Q17 to c.5.5% annualized on recent tightening measures. But we expect a rapid pivot back to stimulus should the growth target look at risk, especially given next year’s leadership transition.


Continued concerns about China credit growth. Although policymakers have introduced tightening measures to reduce the risk of asset price bubbles, China’s reliance on credit growth, which undermines financial stability, remains a key risk.


RMB downside, posing potential risk to the stronger US dollar and global stock markets. We forecast a $/CNY fix of 7.00, 7.15 and 7.30 in 3, 6 and 12 months, respectively, and long $/CNY is one of our 2016 Top Trades. The pace of capital outflows and the evolution of the fix warrant monitoring; in our view, as long as the fix simply offsets dollar strength and capital outflows are contained, global risk appetite should hold up.

China remains a key risk to watch.

Russian Ambassador Shooting HOAX. CLEAR EVIDENCE

Posted: 21 Dec 2016 06:30 PM PST

Aleppo, Russian Ambassador Shooting HOAX. CLEAR EVIDENCE One way to know it's FAKE is by the fact it's on CNN number 1 for FAKE NEWS and making popular fake events with crises actors from reality TV shows. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts ,...

[[ This is a content summary only. Visit for full links, other content, and more! ]]

Trump win ignites hope for stalled Alaska copper and gold mine

Posted: 21 Dec 2016 05:25 PM PST

By Nicole Mordant
Wednesday, December 21, 2016

VANCOUVER, British Columbia, Canada -- A small Canadian miner is confident that Donald Trump's U.S. presidential win will let it proceed with an application for a copper and gold mine in Alaska that has been stalled almost three years by environmental regulators aiming to protect the world's biggest sockeye salmon fishery.

Ronald Thiessen, chief executive officer and president of Northern Dynasty Minerals Ltd, said he expected the U.S. Environmental Protection Agency to announce in the first quarter of 2017 that it will let the application process proceed for the controversial project. He said the company has held discussions with Trump's transition team, including Myron Ebell, who heads the EPA transition.

Shares in Northern Dynasty, which owns the massive Pebble deposit in southwest Alaska's Bristol Bay region, have more than doubled since the U.S. election on Nov. 8. The shares surged 23 percent on Nov. 9 alone.

In February 2014, the EPA took the unusual action of blocking a mine before the project owner applied for a development permit. The company has estimated that removing that pre-emptive veto could happen three to four months after an EPA announcement. This would allow Northern Dynasty to seek a deep-pocketed partner and resume permitting the project, one of the world's biggest undeveloped copper and gold deposits. ...

... For the remainder of the report:


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:

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:

To contribute to GATA, please visit:

David Icke Exposes Michelle Obama

Posted: 21 Dec 2016 03:30 PM PST

Obummer's brother lives in Kenya on 50c a day. Obummer's half brother Malik Obummer is voting for Trump. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and...

[[ This is a content summary only. Visit for full links, other content, and more! ]]

China Gold and Precious Metals Summit 2016 – GoldCore Presentation

Posted: 21 Dec 2016 02:42 PM PST

End Times Headline News - December 21st, 2016

Posted: 21 Dec 2016 02:00 PM PST

 I am not sure what to make of this Russia Ambassador false flag shooting...seems right about lockdown time. Keep your eyes peeled and be ye ready. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists ,...

[[ This is a content summary only. Visit for full links, other content, and more! ]]

Good Evening, Mr. Bond

Posted: 21 Dec 2016 01:59 PM PST

This post Good Evening, Mr. Bond 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]

Not long ago had dinner in my hometown of Darien, Connecticut, with one of the best sources on the inner workings of the U.S. Treasury bond market. Our dinner took place at the Ten Twenty Post bistro, the same restaurant I wrote about in my first book, Currency Wars.

It was there that a friend and I invented the scenario involving a Russian and Chinese gold-backed currency that we played out in the Pentagon-sponsored financial war game described in that book.

Now I had returned for another private conversation with another friend. But this time we were not discussing fictional scenarios for a war game. The conversation involved real threats to real markets happening in real-time.

I can't reveal the identity of my dinner companion, but suffice it to say he is a senior official of one of the largest banks in the world and has over 30 years' experience on the front lines of bond markets.

He has been a regular participant in the work of the Treasury Borrowing Advisory Committee, a private group that meets behind closed doors with Federal Reserve and U.S. Treasury officials to discuss supply and demand in the market for Treasury securities and to plan upcoming auctions to make sure markets are not taken by surprise.

He's an insider's insider who speaks regularly with major bond buyers in China, Japan and the big U.S. funds like PIMCO and BlackRock. For purposes of this article, let's just call him "Mr. Bond."

Over white wine and oysters, I told Mr. Bond about my view of systemic risk in global capital markets. In effect, I was using Bond as a reality check on my own analysis.

First, you must develop a thesis with the best information available. Then test the thesis against new information every chance you get. You'll soon know if you're on the right track or need to revise your thinking. My conversation with Mr. Bond was the perfect chance to update my thesis.

I told Bond that markets appeared to be in a highly paradoxical situation. On the one hand, I had never seen so much liquidity.

Literally trillions of dollars of cash had been sloshing around the world banking system in the form of excess reserves on deposit at central banks — the result of massive money printing since 2008.

On the other hand, something was definitely wrong with liquidity. The Oct. 15, 2014, "flash crash" of rates in the Treasury bond market was a case in point.

On that day, the yield on the 10-year U.S. Treasury note fell 0.34% in a matter of minutes. This is a market in which a change of 0.05% in a single day is considered a big move.

The Oct. 15 flash crash was the second most volatile day in over 50 years. Something was strange when there was massive liquidity in cash and complete illiquidity in notes at the same time.

Yields crashed from 2.2% to 1.86% between 7:00 a.m. and 9:45 a.m., with most of that crash taking place in just a few minutes between 9:30 and 9:45, just after the stock market opened.

Almost no one alive today in the bond market had ever seen anything like this.

I told Mr. Bond that this Treasury market flash crash looked a lot like the stock market flash crash of May 6, 2010, when the Dow Jones industrial average index fell 1,000 points, about 9%, in a matter of minutes, only to bounce back by the end of the day.

This kind of sudden, unexpected crash that seems to emerge from nowhere is entirely consistent with the predictions of complexity theory. Increasing market scale correlates with exponentially larger market collapses.

It was important to me to move beyond the theoretical and see whether an active market participant like Mr. Bond agreed. His answer sent a chill down my spine.

He said, "Jim, it's worse than you know."

Mr. Bond continued, saying, "Liquidity in many issues is almost nonexistent. We used to be able to move $50 million for a customer in a matter of minutes. Now it can take us days or weeks, depending on the type of securities involved."

According to Mr. Bond, there were many reasons for this. New Basel III bank capital requirements made it too expensive for banks to hold certain inventories of securities on their books.

The Volcker Rule under Dodd-Frank prohibited certain proprietary trading that was an important adjunct to customer market making and provided some profits to make the customer risks worthwhile.

Fed and Treasury bank examiners were looking critically at highly leveraged positions in repurchase agreements that are customarily used to finance bond inventories.

Taken together, these regulatory changes meant that banks were no longer willing to step up and make two-way customer markets as dealers. Instead, they acted as agents and tried to match buyers and sellers without taking any risk themselves.

This is a much slower and more difficult process and one than can break down completely in times of market distress.

In addition, new automated trading algorithms, similar to the high-frequency trading techniques used in stock markets, were now common in bond markets. This could add to liquidity in normal times, but the liquidity would disappear instantly in times of market stress.

The liquidity was really an illusion, because it would not be there when you needed it. The illusion was quite dangerous to the extent that customers leveraged their own positions in reliance on the illusion. If the customers all wanted to get out of positions at once, there would be no way to do it and markets would go straight down.

Another factor that Mr. Bond and I discussed over dinner was the shortage of high-quality collateral for swap and other derivatives transactions.

This was the flip side of money printing by the Fed. When the Fed prints money, the do it by purchasing bonds in the market and crediting the seller with money that comes out of thin air.

This puts money into the system, but it takes the bonds out of circulation. But banks need the bonds to support collateralized transactions in the swap markets.

With so many bonds stuck inside the Fed, there was now a scarcity of good collateral to go around in other markets. This was another type of illiquidity that left markets on the knife-edge of collapse.

As Mr. Bond and I finished our meal and polished off the last of wine, we agreed on a few key points.

Markets are subject to instant bouts of illiquidity despite the outward appearance of being liquid. There would be more flash crashes, probably worse that the ones in 2010 and 2014.

Eventually, there would be a flash crash that would not bounce back and would be the beginning of a global contagion and financial panic worse than what the world went through in 2008.

This panic might not happen tomorrow, but it could. The solution for investors is to have some assets outside the traditional markets and outside the banking system.

These assets could be physical gold, silver, land, fine art, private equity or other assets that don't rely on traditional stock and bond markets for their valuation.


Jim Rickards
for The Daily Reckoning

The post Good Evening, Mr. Bond appeared first on Daily Reckoning.

Anonymous -Breitbart Launches Fact-Check Service

Posted: 21 Dec 2016 01:30 PM PST

"you cant trust anything, its all lies, everything" thanks, that helped... there has to be truths out there that none bothered to change. there are truths in the world. 2+2 is always 4. question everything, but believe that the truth is out there The Financial Armageddon Economic Collapse...

[[ This is a content summary only. Visit for full links, other content, and more! ]]

Gold Seeker Closing Report: Gold and Silver End Mixed Again

Posted: 21 Dec 2016 01:24 PM PST

Gold gained $5.51 to $1137.01 in Asia before it drifted back to $1130.09 in late morning New York trade, but it then bounced back higher into the close and ended with a gain of 0.01%. Silver edged up to $16.178 before it fell back $15.907 and then also rebounded, but it still ended with a loss of 0.62%.

What If Trumpflation Doesn’t Come?

Posted: 21 Dec 2016 01:03 PM PST

This post What If Trumpflation Doesn't Come? appeared first on Daily Reckoning.

We don't want to say Dow 20,000 is out of reach today… but it sure is looking elusive.

At last check, the index is down fractionally at 19,957. The other major stock indexes are down a bit more. Treasury yields are backing down, the 10-year at 2.55%.

The only economic number capturing traders' attention today is existing home sales — up 0.7% in November, driven by condo sales.

A lesser-followed economic number is also out today — the Philadelphia Fed state coincident index, a composite of four job indicators in all 50 states. We follow this index because it has a good track record of foretelling recessions.

And while the number was flirting with recessionary territory over the summer, it's recovered smartly the last two months; today's reading for November is the strongest in over a year.

Gold sits near a 10-month low at $1,131… and Jim Rickards says you can't rule out the possibility of $950 during 2017.

Well, he never said the march to $10,000 would be a straight line.

"A new low of $950 per ounce is not out of the question based on Fed tightening and resulting dollar strength," he tells readers of Rickards' Gold Speculator. "The dollar price of gold is simply the inverse of the dollar. A strong dollar typically results in a lower dollar price for gold."

What would the setup for $950 look like? "The Fed expects 'reflation' under Trump," Jim explains, "and begins leaning in with rate hikes designed to cut off inflation. This would be the result of Yellen’s belief that tight labor markets plus stimulus equals inflation (the Phillips curve) and her belief that monetary policy acts with a lag (thus the need to act now)."

To no small degree, this is exactly what the Fed declared last week when it laid out plans for three interest rate increases next year… after only two in the last 13 months, the only ones since the Panic of 2008.

But what if "Trumpflation" doesn't come into being?

Back to Jim's scenario amid Fed tightening: "The Trump reflation never happens. Instead, Congress pushes back against tax cuts that are not revenue neutral, and opposes big spending plans.

"Meanwhile, the economy in not as strong as many believe. We’re in the eighth year of an expansion, so there’s not much bang for the buck in terms of new spending. We will experience diminishing or negative marginal returns to so-called stimulus."

Under this scenario, the stock market is getting way ahead of itself — and a violent correction follows. "By the time the Fed sees its blunder and tries to reverse course, it will be too late.”

“They won’t be able to cut rates enough to steer out of the recession. Negative rates and QE4 won’t be effective. The cheaper Chinese yuan and weak euro will make it impossible to cheapen the dollar as a way out. The stock market could crash 30% or more."

That's deflation: Asset managers dump whatever they can to raise cash. Gold isn't spared. That's what could send gold to $950.

However… $950 wouldn't hold for long, Jim says.

"From there, either things will get much worse, in which case gold will get the safe-haven bid, or the Fed will massively monetize debt to fight deflation, in which case gold will get the inflation bid. Either way, gold could see a drawdown in the months ahead, but nothing will stop its long-term rise.

"Gold wins in the end, but it could be a volatile ride, with new lows possible. That’s not a bad thing for those still building their positions, especially in gold miners, which are even more volatile than gold. You should use occasional drawdowns to add to your position."


Dave Gonigam
for The 5 Min. Forecast

The post What If Trumpflation Doesn't Come? appeared first on Daily Reckoning.

Why is Germany being targeted?

Posted: 21 Dec 2016 01:00 PM PST

 ISIL says it's behind the Christmas market attack in Berlin and the far-right blames Chancellor Merkel for her open door policy on refugees. The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists ,...

[[ This is a content summary only. Visit for full links, other content, and more! ]]

Gold: Trump Will Make Gold Great Again

Posted: 21 Dec 2016 12:13 PM PST


The Death Of The Paper Gold Market Is Starting To Show Its Beautiful Fangs

Posted: 21 Dec 2016 10:26 AM PST

Dear CIGAs, Physical gold in China $40. In my opinion only $10 below a profitable arbitrate or black market arbitrage. Best regards, Jim

The post The Death Of The Paper Gold Market Is Starting To Show Its Beautiful Fangs appeared first on Jim Sinclair's Mineset.

Goldmoney joins blockchain gold rush with Royal Canadian Mint

Posted: 21 Dec 2016 07:54 AM PST

Gold is not only still money but it's getting better all the time.

* * *

By Ian Allison
International Business Times, New York
Wednesday, December 21, 2016

Blockchain builders are filling their boots in the race to tokenize gold on distributed ledgers. Goldmoney Network is the latest platform to do a deal with a vaulted bullion holder -- the Royal Canadian Mint -- following the recent Royal Mint/CME blockchain announcement.

Despite the activities of other players in this market, such as Paxos' Bankchain or Singapore's Digix Global, Goldmoney says it will be the the first to put mint-vaulted gold bullion on a private blockchain globally.

The collaboration allows Goldmoney users to instantly purchase any amount of 100-percent reserved physical gold in the Mint's Ottawa vault using Goldmoney's proprietary, closed-loop blockchain technology, for a 0.50-percent fee and receive free storage for up to 1,000 grams, a release said. ...

... For the remainder of the report:


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:

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:

To contribute to GATA, please visit:

Bullion Star's primer on the U.S. gold reserve

Posted: 21 Dec 2016 07:43 AM PST

10:48a ET Wednesday, December 21, 2016

Dear Friend of GATA and Gold:

Bullion Star today has posted a primer on the U.S. gold reserve, noting that it hasn't been audited terribly well in recent decades. More interesting to GATA is that the audits, such as they are, as well as general discussion and news reporting about the reserve never cover the secret gold swaps in which, according to a 2009 admission to GATA by a member of the Federal Reserve's Board of Governors, the Fed is secretly involved:

The secret March 1999 report of the staff of the International Monetary Fund to the IMF's board said central banks conceal their gold swaps and leases to facilitate their surreptitious intervention in the gold and currency markets:

Bullion Star's primer on the U.S. gold reserve is posted here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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.

Switzerland, Singapore, and Hong Kong remain extremely safe jurisdictions for storing bullion. Avoid exchange-traded funds and digital gold providers where you are a price taker. Ensure that you are outright legal owner of your bullion. If you do not own segregated bullion that you can visit, inspect, and take delivery of, you are exposed.

Crucial guides to storage in Singapore and Switzerland can be read here:

GoldCore does not report transactions to any authority. Safety, privacy, and confidentiality are paramount when we are entrusted with storage of our clients' precious metals.

Email the GoldCore team at or call our trading desk:

UK: +44(0)203-086-9200. U.S.: +1-302-635-1160. International: +353(0)1-632-5010.

Visit us at:

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:

To contribute to GATA, please visit:

Gold and Silver Market Morning: Dec 21 2016 - Gold and Silver consolidating higher?

Posted: 21 Dec 2016 06:29 AM PST

Today the dollar is pausing in its rise and gold too is consolidating with a slightly stronger bias right now. There were no sales from the gold ETFs yesterday, which has assisted the consolidation. If heavy ETF sales come in now the gold price will fall, if not we expect the gold price to continue rising.

China Gold and Precious Metals Summit 2016 – GoldCore Presentation

Posted: 21 Dec 2016 06:25 AM PST

China's leading gold conference was attended by over 250 gold industry professionals from across the value chain including mining companies, refiners and fabricators, bullion dealers, government and private mints, exchanges, investment and bullion banks, brokerage firms, money managers, trading houses, jewelers, consultancies, service providers, policymakers and central banks.

The War on Cash and Then on Gold

Posted: 21 Dec 2016 06:12 AM PST

Technical analyst Clive Maund says liquidity issues with banks could lead to restrictions on cash and precious metals. The global financial system continues to groan under the strain of the accumulated weight of trillions of dollars worth of debt and derivatives, which have built up to even more fantastic levels than those that precipitated the near collapse in 2008, thanks to the policy of solving liquidity problems near term by creating even more debt and derivatives, Quantitative Easing being the most obvious example. However, while the majority considers the situation to be hopeless, there is actually "light at the end of the tunnel."

Seven banks fined in Swiss probes of rate-rigging cartels

Posted: 21 Dec 2016 05:28 AM PST

By Cindy Roberts and Donal Griffin
Bloomberg News
Wednesday, December 21, 2016

Switzerland handed out about $100 million in antitrust fines against seven U.S. and European banks for participating in cartels to manipulate widely used financial benchmarks.

JPMorgan Chase & Co. was fined 33.9 million francs ($33 million) for operating a cartel with Royal Bank of Scotland Group for more than a year, with the aim of influencing the Swiss franc Libor benchmark, which is tied to the London interbank offered rate, Switzerland's competition commission said in a statement Wednesday. RBS received immunity for revealing the existence of the cartel, which operated between March 2008 and July 2009. ...

... For the remainder of the report:


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:

Taylor cited the company's announcement here:

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:

To contribute to GATA, please visit:

Breaking News And Best Of The Web

Posted: 21 Dec 2016 01:37 AM PST

US stocks, interest rates, dollar at recent and/or record highs. Worries about valuation are spreading. US housing starts plunge as higher mortgage rates begin to bite. US auto sales turn down, numerous factories scaling back. Italian banks restructuring and raising capital as government begins bail-out. Terrorist attacks in Turkey and Germany.   Best Of The […]

The post Breaking News And Best Of The Web appeared first on

Podcast: The Blow-Off Top

Posted: 20 Dec 2016 04:17 PM PST

US equities have entered the final, blow-out stage of their bull market. As in 1999 and 2006, investors have decided that it’s different this time and are willing to buy at pretty much any price. Like those previous bubbles, today's will end badly, probably in 2017. Gold, on the other hand should do just fine.

The post Podcast: The Blow-Off Top appeared first on

This posting includes an audio/video/photo media file: Download Now

No comments:

Post a Comment