Thursday, February 9, 2017

Gold World News Flash

Gold World News Flash

Pound spikes towards $1.26 and gold hovers near three-month highs amid rising concerns over political instability

Posted: 09 Feb 2017 01:34 AM PST

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

Martin Armstrong Warns "World War III Looms In Eastern European Tensions"

Posted: 09 Feb 2017 01:00 AM PST

Submitted by Martin Armstrong via,

Europe could become the site of a new global war in the East as tensions build there against refugees and the economic decline fosters old wounds. The EU is deeply divided over the refugee issue and thus it is fueling its own demise and has failed to be a stabilizing force. After five days of demonstrations, Romania’s month-old government backed down and withdrew a decree that had decriminalized some corruption offenses. They were still acting like typical politicians and looking to line their pockets. After one month, the people have been rising up saying “We can’t trust this new government.”

On the eastern border of the EU, only a few hundred miles from Berlin as well as Vienna, there is a growing danger that the world will stumble into a global war. The leading cause is primarily stemming from through the incompetence of the politicians in the EU as well as in the East. The EU is more concerned about punishing Britain and trying to hold on to overpaid political jobs that to address the real issues facing Europe, while these seemingly regional disputes in the East are being ignored.

The problem with NATO has been that most members have not paid into the support of NATO that they had agreed to. The USA has been shouldering the majority of the cost of NATO, which would be like the EU funding US military. Then NATO leaders agreed back in 2016 to deploy military forces to the Baltic states and Eastern Poland for the first time and increase air and sea patrols to reassure new allies who use to be part of the Soviet bloc that they would defend them following Russia’s seizure of Crimea from Ukraine. This has merely increased the confrontations with Russia on the one hand but the Eastern countries themselves are not really aligned. The chaos inside the EU and the overreaching of NATO are the major factors inviting war. This also raises a most serious question: Exactly where does the power of NATO end and Russian power end? Effectively, where precisely is the border of influence?

This question cannot truly be answered in the midst of this chaos. Following the collapse of the Soviet Union, the agreement emerged whereby Belarus, Ukraine and Georgia were to form the buffer for Russia. NATO’s influence on the borders between Poland, the Czech Republic and Slovakia, Hungary, Romania and Bulgaria were to come to an end. Russia directly borders Estonia and Latvia, while Lithuania shares a common border with Belarus. Thereby, a meeting between the West and Russia developed in the 1990s with agreements between the EU and Moscow along with several treaties including the USA. Russia was to then enter the G7 making it now the G8. It was Obama who did his best to undo all of this.

Carving Up China_imperialism

The annexation of the Crimean peninsula by Russia in 2014 is seen as a trigger of the crisis and Russia is described as an aggressor. But Crimea was always Russian territory and it was given to Ukraine to manage back in 1954. What if Spain wanted Puerto Rico back? It is not part of the United States.


The predominant language in Crimea was Russian – not Ukrainian. Ukraine should have been split along the line of language and instead of funding military forces, offered the people to buy their property on either side who desired to move to the West or East. Instead, we have a cold war simply over territory and the people have no say. Politicians still act as if they are playing the board game RISK, but for real. This has always been about territory as if we are still living the dreams of Napoleon, Hitler, Genghis Khan, or Alexander the Great. There are people who live in these regions who are oblivious to the games politicians play. All wars are begun by politicians, ministers, or kings.

Carving up world

Politicians have been carving up the world for a very long time. People mean nothing. They carved up the Ottoman Empire and created the chaos of the Middle East. This is what Trump has been against – nation building. The so called “progressives” who protest against Trump would have been in the front lines of war under Hillary, who was simply keeping the game going. How many lives has it cost when politicians are so concerned over territory rather than the people living in such territories?

From 2004 onwards, NATO has sought to expand its sphere of influence beyond the bounds of peace and go right at the throat of Russia inviting World War III so they get to play with their toys. These activities were first conducted in Georgia. The President at that time was Mikhail Saakashvili from 2004 to 2013. He promoted an active pro-Western policy and was welcomed as a friend and partner of the West. At first, it was supposed to be about democracy, something the EU itself rejected in its new structure with all the power-players being UNELECTED officials, and economic cooperation with the EU and the USA. It did not take long to create the impression in Georgia that NATO would also help the country in an engagement with Russia. Then in the summer of 2008, the conflict escalated. Russia invaded Georgia and occupied the provinces of Abkhazia and Ossetia. These were dominated by Russians originally. Most people have no idea but Joseph Stalin was from Georgia.

NATO did not come to the aid of Georgia. There were no sanctions imposed for occupying Georgia as there were for the occupation of the Crimea. Why? What was the difference when Georgia was actually being solicited by the West and Crimea was not? Was it simply that Crimea was an important military base for Russia all along? It appears that the world politicians sitting at the table playing the game RISK were really just trying to end Russia’s port in the Black Sea and isolate it. That is certainly something the USA would have done in a second if the roles were reversed. The sanctions imposed against Russia were not to really protect Ukraine, but because the West was trying to take away Russia’s access to the Black Sea.

Economic cooperation with the West was accepted by Moscow under Reagan. The cold war had ended. Ronald Reagan worked hard to bring down the Berlin Wall. Why did Obama work so hard to reestablish the cold war? NATO has clearly raised hopes in Eastern Europe as they did in Georgia. Indeed, the Ukrainian crisis is in many ways a continuation of the events in Georgia. Since the “Orange Revolution” in 2004, Ukraine was seen as a knife to poke in the ribs of Russia. The pretend President Viktor Yanukovych was pro-Russia because he came from the East and spoke Russian. He could not even speak proper Ukrainian. But he and his sons sought to rule Ukraine like a Russian oligarch. Businesses had to pay protection money to even survive. The Ukrainian Revolution was real. The West’s politicians moved in to try to seize control of the new government, but the uprising was against corruption as we now see in Romania.

In November 2013, Yanukovych put a “freeze” on negotiations with the EU. As a result, the people began to rise up. The police were ruthless exploiting the people and were not there to protect the people from the State. Revolution began and since June 2014, Ukraine has sought a pro-Western course reaching treaties with the EU and with NATO. Indeed, once again, NATO gave the impression to Ukraine that it would implicitly defend it but Ukraine has not formally become a member of NATO.

The EU is no longer an economic community, but a political union that is closely linked to NATO. Most have overlooked the  Treaty of Lisbon (initially known as the Reform Treaty) which was an international agreement that amended the two previous treaties thereby creating the federalized constitutional basis of the European Union (EU) without ever putting that to a vote. The Treaty of Lisbon was signed by the EU member states on December 13th, 2007, and went into force on December 1st, 2009. This treaty has decisively altered the very core foundation of the EU transforming from 2009 onwards. This fact is always overlooked in the EU because few have read the text of the Treaty of Lisbon. Ever since, there have been closer ties between the EU which is now linked to NATO, which is why Trump says the USA should exit NATO and Le Pen is arguing the same in France. Additionally, Ukraine was given direct contracts with the EU with regard to a military alliance. This is a “soft” membership in NATO addition Ukraine but not really.

There is no way the US would give up its pacific military basis in Japan at Okinawa. Yet we impose sanction upon Russia for annexing its original territory pre-Ukraine where it maintain its Black Sea Fleet is stationed in the Crimea. The sanctions imposed upon Russia for Crimea are very hypocritical. From Russia’s perspective, the alternative would have been that Moscow’s Black Sea Fleet would be docked in a NATO country. That would present a circumstance that was totally unacceptable leaving the annexation of the Crimea a logical and obvious reaction that the USA would have done if the roles were reversed.

Ukrainian eastern region of the country remains a strategic concern. The IMF (International Monetary Fund) was willing to provide loans to Ukraine but demanding they engage Russia in the East. This demonstrated that the IMF was playing military politics – not economic. The fact that in the Eastern Ukraine is composed of Russian-speaking people, gives Moscow justification to protect its ethic citizens. This is why Ukraine should have simple been divided along the ethic lines and stop trying to poke Russia for the sake of military ambitions as was the case with Vietnam against China.

Ukraine assumes that NATO will intervene. This has not happened so far, but the danger remains that Russia could be forced into an invasion as was the case in Ukraine especially if the EU begins to break apart. Likewise, the border of Belarus against Russia also presents a potential power keg. Belarus is also now in conflict with Moscow. As in the case of Ukraine, Minsk and Moscow are also arguing about gas prices, oil supplies and disabilities in foreign trade. Additionally, Moscow imposed border controls, whereby a two-country agreement on open borders existed for twenty years. Belarus imposed a 5-day visas for citizens of 79 states, including all EU states and the US. This measure is seen in Moscow as the approach of Belarus to the West. Belarus has been courting the West with trade playing both sides of the world Russia v West.

Moreover, Belarus is now also breaking up, where border controls are apparently being carried out by Russia. We are witnessing the fragmentation of countries and governments all due to failing economic systems. We are looking at the Baltic countries opposing Russia. Estonia, Latvia and Lithuania are all full members of the EU and NATO. So where exactly does NATO end and Russian influence begins? This is becoming a very dangerous and grey area.


The new US Secretary of State Rex Tillerson may help and he was a wise choice on the part of Trump. NATO is the focus of attention right now. The military alliance is dominated by Washington yet this is actually contradictory to the Treaty of Lisbon. Donald Trump has questioned NATO as a whole, and the press do not fully explain what has evolved. Is the USA just paying the military bill for the EU yet the Treaty of Lisbon makes the NATO the national force of the EU?

The new US Secretary of State Rex Tillerson expressed it best: “Russia is dangerous, but predictable”. Tillerson does know Russia well and far better than any politician filling that role before. Tillerson could actually establish a dialogue with Russia to secure world peace. The machinations of Obama have merely ended dialogue and reestablished the cold war that took more than 30 years to thaw. Democrats are too preoccupied with trying to stop Trump and fueling protests to distract the press and the American people from the real risk of war the Obama administration has created.

The Silent Terror Of The FBI - Could The Fourth Reich Happen Here?

Posted: 08 Feb 2017 07:25 PM PST

Submitted by John Whitehead via The Rutherford Institute,

“After five years of Hitler’s dictatorship, the Nazi police had won the FBI’s seal of approval.” - Historian Robert Gellately


Adolf Hitler is alive and well in the United States, and he is fast rising to power.” - Paul Craig Roberts, former Assistant Secretary of the Treasury, on the danger posed by the FBI to our civil liberties

Lately, there’s been a lot of rhetoric comparing Donald Trump to Adolf Hitler. The concern is that a Nazi-type regime may be rising in America.

That process, however, began a long time ago.

In fact, following the second World War, the U.S. government recruited Hitler’s employees, adopted his protocols, embraced his mindset about law and order, implemented his tactics in incremental steps, and began to lay the foundations for the rise of the Fourth Reich.

Sounds far-fetched? Read on. It’s all documented.

As historian Robert Gellately recounts, the Nazi police state was initially so admired for its efficiency and order by the world powers of the day that J. Edgar Hoover, then-head of the FBI, actually sent one of his right-hand men, Edmund Patrick Coffey, to Berlin in January 1938 at the invitation of Germany’s secret police—the Gestapo.

The FBI was so impressed with the Nazi regime that, according to the New York Times, in the decades after World War II, the FBI, along with other government agencies, aggressively recruited at least a thousand Nazis, including some of Hitler’s highest henchmen.

All told, thousands of Nazi collaborators—including the head of a Nazi concentration camp, among others—were given secret visas and brought to America by way of Project Paperclip. Subsequently, they were hired on as spies and informants, and then camouflaged to ensure that their true identities and ties to Hitler’s holocaust machine would remain unknown. All the while, thousands of Jewish refugees were refused entry visas to the U.S. on the grounds that it could threaten national security.

Adding further insult to injury, American taxpayers have been paying to keep these ex-Nazis on the U.S. government’s payroll ever since. And in true Gestapo fashion, anyone who has dared to blow the whistle on the FBI’s illicit Nazi ties has found himself spied upon, intimidated, harassed and labeled a threat to national security.

As if the government’s covert, taxpayer-funded employment of Nazis after World War II wasn’t bad enough, U.S. government agencies—the FBI, CIA and the military—have fully embraced many of the Nazi’s well-honed policing tactics, and have used them repeatedly against American citizens.

Indeed, with every passing day, the United States government borrows yet another leaf from Nazi Germany’s playbook: Secret police. Secret courts. Secret government agencies. Surveillance. Censorship. Intimidation. Harassment. Torture. Brutality. Widespread corruption. Entrapment. Indoctrination. Indefinite detention.

These are not tactics used by constitutional republics, where the rule of law and the rights of the citizenry reign supreme. Rather, they are the hallmarks of authoritarian regimes, where the only law that counts comes in the form of heavy-handed, unilateral dictates from a supreme ruler who uses a secret police to control the populace.

That danger is now posed by the FBI, whose laundry list of crimes against the American people includes surveillance, disinformation, blackmail, entrapment, intimidation tactics, harassment and indoctrination, governmental overreach, abuse, misconduct, trespassing, enabling criminal activity, and damaging private property, and that’s just based on what we know.

Whether the FBI is planting undercover agents in churches, synagogues and mosques; issuing fake emergency letters to gain access to Americans’ phone records; using intimidation tactics to silence Americans who are critical of the government; recruiting high school students to spy on and report fellow students who show signs of being future terrorists; or persuading impressionable individuals to plot acts of terror and then entrapping them, the overall impression of the nation’s secret police force is that of a well-dressed thug, flexing its muscles and doing the boss’ dirty work of ensuring compliance, keeping tabs on potential dissidents, and punishing those who dare to challenge the status quo.

Whatever minimal restrictions initially kept the FBI’s surveillance activities within the bounds of the law have all but disappeared post-9/11. Since then, the FBI has been transformed into a mammoth federal policing and surveillance agency that largely operates as a power unto itself, beyond the reach of established laws, court rulings and legislative mandates.

Consider the FBI’s far-reaching powers to surveil, detain, interrogate, investigate, prosecute, punish, police and generally act as a law unto themselves—much like their Nazi cousins, the Gestapo—and then try to convince yourself that the United States is still a constitutional republic.

Just like the Gestapo, the FBI has vast resources, vast investigatory powers, and vast discretion to determine who is an enemy of the state.

Today, the FBI employs more than 35,000 individuals and operates more than 56 field offices in major cities across the U.S., as well as 400 resident agencies in smaller towns, and more than 50 international offices. In addition to their “data campus,” which houses more than 96 million sets of fingerprints from across the United States and elsewhere, the FBI has also built a vast repository of “profiles of tens of thousands of Americans and legal residents who are not accused of any crime. What they have done is appear to be acting suspiciously to a town sheriff, a traffic cop or even a neighbor.” The FBI’s burgeoning databases on Americans are not only being added to and used by local police agencies, but are also being made available to employers for real-time background checks.

All of this is made possible by the agency’s nearly unlimited resources (its minimum budget alone in fiscal year 2015 was $8.3 billion), the government’s vast arsenal of technology, the interconnectedness of government intelligence agencies, and information sharing through fusion centers—data collecting intelligence agencies spread throughout the country that constantly monitor communications (including those of American citizens), everything from internet activity and web searches to text messages, phone calls and emails.

Much like the Gestapo spied on mail and phone calls, FBI agents have carte blanche access to the citizenry’s most personal information.

Working through the U.S. Post Office, the FBI has access to every piece of mail that passes through the postal system: more than 160 billion pieces are scanned and recorded annually. Moreover, the agency’s National Security Letters, one of the many illicit powers authorized by the USA Patriot Act, allows the FBI to secretly demand that banks, phone companies, and other businesses provide them with customer information and not disclose those demands to the customer. An internal audit of the agency found that the FBI practice of issuing tens of thousands of NSLs every year for sensitive information such as phone and financial records, often in non-emergency cases, is riddled with widespread constitutional violations.

Much like the Gestapo’s sophisticated surveillance programs, the FBI’s spying capabilities can delve into Americans’ most intimate details (and allow local police to do so, as well).

In addition to technology (which is shared with police agencies) that allows them to listen in on phone calls, read emails and text messages, and monitor web activities, the FBI’s surveillance boasts an invasive collection of spy tools ranging from Stingray devices that can track the location of cell phones to Triggerfish devices which allow agents to eavesdrop on phone calls.  In one case, the FBI actually managed to remotely reprogram a “suspect’s” wireless internet card so that it would send “real-time cell-site location data to Verizon, which forwarded the data to the FBI.” Law enforcement agencies are also using social media tracking software to monitor Facebook, Twitter and Instagram posts. Moreover, secret FBI rules also allow agents to spy on journalists without significant judicial oversight.

Much like the Gestapo’s ability to profile based on race and religion, and its assumption of guilt by association, the FBI’s approach to pre-crime allows it to profile Americans based on a broad range of characteristics including race and religion.

The agency’s biometric database has grown to massive proportions, the largest in the world, encompassing everything from fingerprints, palm, face and iris scans to DNA, and is being increasingly shared between federal, state and local law enforcement agencies in an effort to target potential criminals long before they ever commit a crime. This is what’s known as pre-crime. Yet it’s not just your actions that will get you in trouble. In many cases, it’s also who you know—even minimally—and where your sympathies lie that could land you on a government watch list. Moreover, as the Intercept reports, despite anti-profiling prohibitions, the bureau “claims considerable latitude to use race, ethnicity, nationality, and religion in deciding which people and communities to investigate.”

Much like the Gestapo’s power to render anyone an enemy of the state, the FBI has the power to label anyone a domestic terrorist.

As part of the government’s so-called ongoing war on terror, the nation’s de facto secret police force has begun using the terms “anti-government,” “extremist” and “terrorist” interchangeably. Moreover, the government continues to add to its growing list of characteristics that can be used to identify an individual (especially anyone who disagrees with the government) as a potential domestic terrorist. For instance, you might be a domestic terrorist in the eyes of the FBI (and its network of snitches) if you:

  • express libertarian philosophies (statements, bumper stickers)
  • exhibit Second Amendment-oriented views (NRA or gun club membership)
  • read survivalist literature, including apocalyptic fictional books
  • show signs of self-sufficiency (stockpiling food, ammo, hand tools, medical supplies)
  • fear an economic collapse
  • buy gold and barter items
  • subscribe to religious views concerning the book of Revelation
  • voice fears about Big Brother or big government
  • expound about constitutional rights and civil liberties
  • believe in a New World Order conspiracy

Much like the Gestapo infiltrated communities in order to spy on the German citizenry, the FBI routinely infiltrates political and religious groups, as well as businesses.

As Cora Currier writes for the Intercept: “Using loopholes it has kept secret for years, the FBI can in certain circumstances bypass its own rules in order to send undercover agents or informants into political and religious organizations, as well as schools, clubs, and businesses...” The FBI has even been paying Geek Squad technicians at Best Buy to spy on customers’ computers without a warrant.

Just as the Gestapo united and militarized Germany’s police forces into a national police force, America’s police forces have largely been federalized and turned into a national police force.

In addition to government programs that provide the nation’s police forces with military equipment and training, the FBI also operates a National Academy that trains thousands of police chiefs every year and indoctrinates them into an agency mindset that advocates the use of surveillance technology and information sharing between local, state, federal, and international agencies.

Just as the Gestapo’s secret files on political leaders were used to intimidate and coerce, the FBI’s files on anyone suspected of “anti-government” sentiment have been similarly abused.

As countless documents make clear, the FBI has no qualms about using its extensive powers in order to blackmail politicians, spy on celebrities and high-ranking government officials, and intimidate and attempt to discredit dissidents of all stripes. For example, not only did the FBI follow Martin Luther King Jr. and bug his phones and hotel rooms, but agents also sent him anonymous letters urging him to commit suicide and pressured a Massachusetts college into dropping King as its commencement speaker.

Just as the Gestapo carried out entrapment operations, the FBI has become a master in the art of entrapment.

In the wake of the 9/11 terrorist attacks the FBI has not only targeted vulnerable individuals but has also lured or blackmailed them into fake terror plots while actually equipping them with the organization, money, weapons and motivation to carry out the plots—entrapment—and then jailing or deporting them for their so-called terrorist plotting. This is what the FBI characterizes as “forward leaning—preventative—prosecutions.” In addition to creating certain crimes in order to then “solve” them, the FBI also gives certain informants permission to break the law, “including everything from buying and selling illegal drugs to bribing government officials and plotting robberies,” in exchange for their cooperation on other fronts. USA Today estimates that agents have authorized criminals to engage in as many as 15 crimes a day. Some of these informants are getting paid astronomical sums: one particularly unsavory fellow, later arrested for attempting to run over a police officer, was actually paid $85,000 for his help laying the trap for an entrapment scheme.

When and if a true history of the FBI is ever written, it will not only track the rise of the American police state but it will also chart the decline of freedom in America, in much the same way that the empowerment of Germany’s secret police tracked with the rise of the Nazi regime.

How did the Gestapo become the terror of the Third Reich?

It did so by creating a sophisticated surveillance and law enforcement system that relied for its success on the cooperation of the military, the police, the intelligence community, neighborhood watchdogs, government workers for the post office and railroads, ordinary civil servants, and a nation of snitches inclined to report “rumors, deviant behavior, or even just loose talk.”

In other words, ordinary citizens working with government agents helped create the monster that became Nazi Germany. Writing for the New York Times, Barry Ewen paints a particularly chilling portrait of how an entire nation becomes complicit in its own downfall by looking the other way:

In what may be his most provocative statement, [author Eric A.] Johnson says that

The Fed Will Sacrifice Dollar to Prop Up Bonds -- Peter Schiff

Posted: 08 Feb 2017 06:30 PM PST

 Money manager Peter Schiff says, "The Fed is going to try to keep interest rates as low as possible because we have so much debt that these artificially low rates are the only way we can service it. So, the Fed, I think, is willing to sacrifice the dollar to keep propping up the bond market. ...

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Gold Price Closed at $1237.60 Up $3.40 or 0.28%

Posted: 08 Feb 2017 04:23 PM PST

8-Feb-17PriceChange% Change
Gold Price, $/oz1,237.603.400.28%
Silver Price, $/oz17.68-0.05-0.28%
Gold/Silver Ratio69.9880.3890.56%
Silver/Gold Ratio0.0143-0.0001-0.56%
S&P 5002,294.671.590.07%
Dow in GOLD $s334.97-1.52-0.45%
Dow in GOLD oz16.20-0.07-0.45%
Dow in SILVER oz1,
US Dollar Index100.250.000.00%
IMPORTANT NOTE: The following are wholesale, not retail, prices. To figure our retail selling price, multiply the "ask" price by 1.035. To figure our retail buying price, multiple the "bid" price by 0.97. Lower commissions apply to larger orders, higher commissions to very small orders.
SPOT GOLD:1,240.70

American Eagle1.001,270.481,281.641,281.64
1/2 AE0.50638.45653.231,306.46
1/4 AE0.25325.42333.441,333.75
1/10 AE0.10130.17135.861,358.57
Aust. 100 corona0.981,207.011,216.011,240.58
British sovereign0.24294.25307.251,305.23
French 20 franc0.19231.64237.641,272.84
Maple Leaf1.001,250.701,264.701,264.70
1/2 Maple Leaf0.50713.40651.371,302.74
1/4 Maple Leaf0.25316.38331.891,327.55
1/10 Maple Leaf0.10131.51135.241,352.36
Mexican 50 peso1.211,484.571,495.571,240.42
.9999 bar1.001,240.701,252.701,252.70

VG+ Morgan $B4 19050.7723.0027.0035.29
VG+ Peace dollar0.7717.0020.0026.14
90% silver coin bags0.7212,476.7512,762.7517.85
US 40% silver 1/2s0.305,044.505,194.5017.61
100 oz .999 bar100.001,765.001,790.0017.90
10 oz .999 bar10.00179.00184.0018.40
1 oz .999 round1.0018.0018.3018.30
Am Eagle, 200 oz Min1.0019.2520.7520.75

Plat. Platypus1.001,031.401,061.401,061.40

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Billionaire Eric Sprott Says Central Banks Panicking As ‘The Whole World Is Buying Gold Here,’ Including Druckenmiller

Posted: 08 Feb 2017 02:27 PM PST

Today billionaire Eric Sprott told King World News that central banks are panicking as the whole world is buying gold here, including Druckenmiller.

Eric King:  “King World News was the first news organization in the world to report that multi-billionaire Stanley Druckenmiller had bought back his gold position and today (two days later) Bloomberg news confirmed it.  What are your thoughts on Druckenmiller buying back his gold position?”

China Approaches Breaking Point

Posted: 08 Feb 2017 01:37 PM PST

This post China Approaches Breaking Point appeared first on Daily Reckoning.

We've discussed it for weeks. But today we have it on the highest authority, Bloomberg, that "China’s Currency Policy Approaches Breaking Point."

What is the breaking point? Why does it matter? And how does Trump factor in? These are the questions we tackle today…

China announced yesterday that its foreign currency reserves have officially fallen below the $3 trillion mark — a psychological line in the sand.

After yesterday's announcement, they stand at $2.99 trillion — and falling. Many analysts estimate China needs a $2.6–2.8 trillion cushion to forestall a balance of payments crisis.

But now that the line in the sand has been crossed, many fear the decline will accelerate. So China must stop the hemorrhaging. And soon.

Rajiv Biswas, economist at Singapore's IHS Global Insight: "With reserves dropping below the psychologically important threshold of $3 trillion, this will further ramp up pressure on Chinese policymakers to prevent the further draining of reserves.”

The problem in a nutshell:

A worsening debt crisis and slowing growth have capital fleeing China as fast as its feet will allow. The Institute of International Finance reports that capital outflows swelled to a record $725 billion last year.

China's desperate to keep that capital at home to support the economy. And it's been burning holes in its dollar reserves to support the yuan. Selling its dollar holdings to buy yuan puts footings under the yuan. Makes it more attractive. Halts the capital flight.

But the fire can only burn so long before it torches the remaining reserves…

A $2.99 trillion war chest or a $3 trillion war chest sounds like plenty. But as Jim Rickards explained recently, it's not nearly as much as it sounds:

Of the $3 trillion that China has left, only $1 trillion of that is a liquid. One trillion is invested in hedge funds, private equity funds, gold mines, et cetera. That money is not liquid. It cannot be used to support the currency, so remove a trillion.

That leaves $2 trillion:

Another trillion has to be held on what's called a precautionary reserve to bail out their banking system. The Chinese banks are completely insolvent. That system is going to need to be bailed out sooner rather than later.

Scratch another trillion:

That leaves only $1 trillion of the original $4 trillion in liquid form. The problem is that capital flight is continuing at a rate of $1 trillion per year, so China will be devoid of usable liquid assets by late 2017.

Repeating: Two-thirds of China's reserves are doing other service. About $1 trillion remains. But at the going rate, China will burn through its usable reserves by the end of the year.

So now what?

Jim has warned that Trump could soon label China a currency manipulator. That has vast implications, as you'll see. But it's not just Mr. Rickards. We learn today that a group of analysts at Deutsche Bank is piping an identical tune:

Sometime in the next few weeks, President Trump or his Treasury secretary may declare China a currency manipulator and propose penalties including tariffs on some or all imports from China unless it ceases this and other alleged unfair trade policies.

And that would invite Chinese retaliation. Tariffs of their own on American goods. And then… China might reach for the nuclear option — a "maxi-devaluation." Jim again:

We know what Donald Trump has said. China's going to be labeled a currency manipulator. That's like firing the first shot in a major currency war. We could see tariffs imposed in both directions, shots in retaliation, a financial war… China will retaliate with what I call their nuclear option, which is a maxi-devaluation of the Chinese yuan.

If China's going to be branded a currency manipulator and have its exports slapped with a steep tariff, why not go ahead and devalue?

One, it would make Chinese exports more competitive. Two, China could stop depleting its dollar reserves. It would no longer have to burn through dollars to boost the yuan.

And three, it could actually halt the capital outflows. How? Many Chinese fear the government will impose stricter capital controls as the situation worsens. So they move their capital out of the country in advance. That brings greater fear of capital controls. And more incentives for capital flight. It's a vicious cycle.

But if China devalues all at once, say, 25% or 30%, it sends this message: The worst is over. You may as well keep your capital in China. There will be no further devaluation.

As far as China's concerned, so what if the U.S. stock market tanks 10% or more? It bounced back the past two times they devalued, August and December 2015. It'll bounce back again. Besides, China's a lot more concerned about keeping its factories humming than the U.S. stock market.

Regardless, China can't afford to keep burning through its dollar reserves.

"It's clear that China's current currency policy is unsustainable," writes Junheng Li, founder of Warren Capital. "It can, of course, last longer than anyone anticipates and then abruptly end."

If Jim Rickards is right and those Deutsche Bank analysts are right, it could abruptly end sooner than most people think. The next few weeks could be critical. Will Trump label China a currency manipulator? And will China then "go nuclear"?

All eyes are on you, Mr. President…


Brian Maher
Managing editor, The Daily Reckoning

The post China Approaches Breaking Point appeared first on Daily Reckoning.

Gold Seeker Closing Report: Gold and Silver Swing Back to Gains

Posted: 08 Feb 2017 01:30 PM PST

Gold gained $11.80 to $1244.80 in midmorning New York trade before it drifted back lower in the next few hours, but it still ended with a gain of 0.61%. Silver rose to as high as $17.866 and ended with a gain of 0.34%.

U.S.-Chinese Relations Speed Towards Rupture

Posted: 08 Feb 2017 01:00 PM PST

This post U.S.-Chinese Relations Speed Towards Rupture 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 Crisisclaim your free copy here – transcends politics and media to prepare you for the next crisis in the ice-nine lockdown.] 

Based upon my reading of recent developments, U.S.- China relations could soon be heading for crisis.

The process of connecting the dots between the political, economic, and social forces buffeting China is complicated. By using technical analysis and information I've gathered on the ground in a recent visit to China, I'm able to cut through the haze of political rhetoric and propaganda coming from Washington and Beijing.

That way I can bring you a reasoned estimate of what the near future holds in store for markets as the world's two largest economies — China and the U.S. — work out their differences for better or worse.

In 2016, we know that China, the world's second largest economy, defied predictions of a slowdown by unleashing massive amounts of government spending and adding mountains of debt to stimulate its economy.

But I expect 2017 may turn out very differently. China is encountering hurricane force headwinds that will cause its nonsustainable debt-driven policies to reach a critical state.

These headwinds include: confrontations with President Trump on issues of trade, tariffs and currency manipulation; internal political instability from Chinese President Xi's efforts to expand and centralize his political power; possible geopolitical crises connected to North Korea, Taiwan or the South China Sea; Trump's pivot toward Russia and away from China; the Chinese credit bubble; capital flight; and China's delicate relations with the IMF.

Any one of these headwinds in isolation is serious enough. In combination, they could have far-reaching consequences. The election of Donald Trump has certainly complicated issues for China.

The first challenge is that Trump is plainspoken and does not hide behind the usual diplomatic babble. That can be difficult for the Chinese to tolerate because their culture is dominated by the concept of "face" or the need to avoid direct conflict or embarrassment.

When Chinese lose face as the result an adversarial thrust, they try to regain face by being adversarial in return. The result can be an escalation of tensions independent of the policy substance involved. That can make agreements more difficult to achieve.

President Trump and President Xi are on a collision course involving issues of trade, tariffs, and currency manipulation. Geopolitical issues will make the economic issues even harder to resolve.

China's response to the conflicts mentioned above might take the form of a maxi-devaluation of the yuan, much tighter capital controls, a severe downturn in its economy or all three.

But none of the extreme outcomes will be contained to China. Any significant departure from China's current growth trajectory has serious negative implications for investors around the world.

In short, we may be witnessing a break-up in the China-U.S. global condominium that has dominated world growth and world politics since 2001.

U.S. policy for the past sixteen years through the Bush and Obama administrations had been soft-pedaling all of these issues in return for cheap manufactured goods and China's willingness to finance trillions of dollars of U.S. government debt.

Now Trump is changing the rules of the game. He's saying lost jobs in the U.S. are not worth the cheap goods and cheap financing. He's betting that China has no alternative but to keep producing those goods and keep buying our debt, even if the U.S. imposes tariffs to help create manufacturing jobs here.

Trump is willing to use leverage from the geopolitical sphere on issues like Taiwan, North Korea, and the South China Sea in order to get concessions from China on the currency issue and China's trade subsidies such as state support for money losing export sectors (like steel).

As Trump settles into office, he's backing up his words with actions. His team is now packed with seasoned officials and advisors who have been vocal critics of China's trade policies for decades.

The new U.S. Trade Representative, Robert Lighthizer, has a record of imposing tariffs on unfair trading partners going back to the Reagan administration in the 1980s. Trump's transition advisor on trade, Dan DiMicco, is the former CEO of Nucor steel and has been on the receiving end of China's steel dumping.

Another senior Trump advisor, Peter Navarro, is an academic and outspoken critic of China. Navarro wrote the book "Death by China," and his work is a roadmap for the kinds of policies Trump will pursue. While Obama advisors such as John Kerry and Jack Lew were mostly talk and no action, the Trump team is ready to rumble.

Now we learn that Trump's closest political adviser, Steven Bannon, senior counselor to the president, has already predicted a war with China starting in the South China Sea. Bannon has said, "We're going to war in the South China Sea… no doubt."

Admittedly, this forecast was made before Trump's election and was a long-term forecast, not an immediate warning.

Still, such comments do not go unnoticed in Beijing. A conflict between the U.S. and China would be the most momentous confrontation since the end of the Cold War, in 1991, with enormous consequences for investor portfolios.

The problem is that China may not have much to offer, despite the pressure. Trump may not realize that China's currency is going down not because of government manipulation, but because of market forces in the form of capital flight.

In fact, China's main currency manipulation today is an effort to strengthen, not weaken, the yuan to keep the U.S. appeased — although those efforts appear to be failing.

China may not be in a position to keep buying Treasury debt either. China's reserves are dropping and it has become a net seller of Treasuries. It looks like the days of cheap foreign finance are over for the U.S. regardless of Trump's policies.

This does not mean U.S. interest rates will spike, despite recent increases. The U.S. will simply force U.S. banks to buy the Treasury debt that China cannot. To the extent that China still runs trade surpluses, it is allocating its reserves into gold, euros, and special drawing rights (SDR or world money) and away from dollars.

The bottom line is that China cannot end its subsidies to exports because it needs the jobs that its export industries create. The Chinese Communist Party is an illegitimate regime that will remain in power only so long as it provides jobs and a rising living standard for the Chinese people.

Once the Chinese job machine stalls out, popular unrest could emerge on a scale much greater than the 1989 Tiananmen Square protests. This is an existential threat to Communist power and will not be allowed to happen for that reason. Therefore, the subsidies will continue.

China cannot prop up the yuan indefinitely because it will run out of reserves and go broke in the process. In effect, Trump is trying to force China to adopt policies on trade and currency that it cannot pursue for political and financial reasons.

The result is likely to be confrontation rather than cooperation. This outcome involves costs for both sides. U.S. consumers may pay more for Chinese goods. China's factories may slow down as a result of higher costs. Some U.S. manufacturing jobs may be gained, but job losses in other sectors (entertainment, technology, pharmaceuticals, aircraft) may offset those gains.

The greatest danger may be a maxi-devaluation of the Chinese yuan. Once the Chinese realize that they will not be rewarded by the U.S. for trying to prop up their currency, they may just let it crash to reap the benefits of even cheaper export prices to offset the U.S. tariffs.

We've seen this movie before. It happened in the 1930s. It was called The Great Depression.

While the exact path and timing of such a conflict may be unclear, it's not too soon to start building a defensive allocation in your portfolio just in case. The single best asset class for the coming conflict is gold.

When trade and monetary cooperation between the U.S. and China break down, gold will re-emerge as genuine world money, as it has many times before.


Jim Rickards
for The Daily Reckoning

The post U.S.-Chinese Relations Speed Towards Rupture appeared first on Daily Reckoning.

Upcoming Stock MARKET CRASH! Economic Collapse Of America 2017

Posted: 08 Feb 2017 12:30 PM PST

Our press does not tell us the truth about anything. The central bankers want war with Russia. I assure you the American people do not want war. Our gov is provoking Russia by surrounding them with tanks, soldiers, weapons, etc. right on their border. Transcript : amazing the creative...

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Druckenmiller buys gold after reversing November stance

Posted: 08 Feb 2017 12:02 PM PST

By Katherine Burton and Katia Porzecanski
Bloomberg News
Wednesday, Febrary 8, 2017

Stan Druckenmiller, the billionaire investor with one of the best long-term track records in money management, said he bought gold in late December and January, reversing the sale he made after the U.S. presidential election.

"I wanted to own some currency and no country wants its currency to strengthen," Druckenmiller said Tuesday in an interview. "Gold was down a lot, so I bought it."

Druckenmiller, who had held a gold position going into the November election, sold it on Election Night, explaining in a CNBC interview that he was optimistic that President Donald Trump's administration would bring deregulation and "serious" tax reform that spurs growth. Those benefits, he said, were expected to outweigh concerns about more protectionist trade policies. "All the reasons I owned it for the last couple of years seem to be ending," he said at the time.

... For the remainder of the report:


At 3 Aces Project, Golden Predator Finds 7.5 Meters of 33 Grams-Per-Tonne Gold

Company Announcement
Thursday, January 19, 2017

VANCOUVER, British Columbia, Canada -- Golden Predator Mining Corp. (TSX.V: GPY; OTCQX: NTGSF) is pleased to report assay results for the first 13 holes of a total of 54 holes completed in the winter 2016 drill program at the 3 Aces Project in southeastern Yukon Territory.

Drilling has demonstrated an extension of high-grade gold at the Ace of Spades zone, as well as the exciting discovery of a blind vein and the occurrence of significant assay values in stockwork zones.

Significant results reported at true width include:

-- Hole 3A16-RC-032 intersected 7.54 meters of 32.86 grams per tonne gold from a depth of 16.76 meters, including 0.54 meters of 252 grams per tonne gold; and a new blind vein at a depth of 71.63 meters returned 3.23 meters of 10.04 grams per tonne gold. (The hole ended in mineralization. ...

For the remainder of the announcement:

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Tuesday-Friday, March 28-31, 2017
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Wednesday-Friday, April 5-7, 2017
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Gold’s Crazy Secret

Posted: 08 Feb 2017 12:00 PM PST

This post Gold's Crazy Secret appeared first on Daily Reckoning.

Let's talk about gold. But not in any way you've likely read about ever before.

You know everything there is to know already, right?

That gold has been real "money" for all of human history…

That Gold is scarce; it has unmistakable properties; and it does not rust, wear out or fade…

That even in today's crazy Trump market, gold is one of the only "safe-haven" assets.

But forget about what you know about gold right now. Because gold has the potential to do much more than just protect wealth…

That's because its unique properties extend way beyond what's obvious to the naked eye.

In this particular industry, gold will create wealth… and make investors rich.

The industry I'm talking about is biotechnology.

Believe it or not, gold is an excellent delivery vehicle for a variety of biotech-related applications, since it has the ability to take up and hold proteins on its surface.

It can carry everything from genes to stem cells. As a plus, gold isn't rejected by the human body.

Because of this, gold could be revolutionary in the treatment of disease.

I'll get to that in a moment. But first, before gold can treat you, you have to be diagnosed…

…And I believe gold will completely transform the multibillion-dollar diagnostic market forever.

Instead of waiting days or weeks for an expensive blood test done at a lab, you will be able to have an answer to your health-related question in a matter of minutes — in your very own home.

It's currently in the works. And since early detection is key to curing many diseases — including cancer — in-home, gold-enabled diagnostic technology will help save countless lives.

The use of nano-sized gold particles to detect cancer could be a major leap forward in the all-important world of diagnosis

…But as I mentioned earlier, we could see the same minute gold particles revolutionize cancer treatment.

Gold's chemical configuration has captured the imagination of biotech researchers. It is being closely studied in university labs around the world. One day, it might even help cure cancer.

Researchers at prestigious institutions like the Mayo Clinic, the MD Anderson Center, Rice University, the Georgia Institute of Technology and more have all been figuring out how to kill cancer cells using gold nanoparticles.

Essentially, scientists coat tiny particles of gold — as small as 60 billionths of a meter — with antibodies that bond easily to cancer cells.

Once injected, they attach themselves to the cancer cell, where the gold naturally migrates inside the cell. From there, doctors can hit the gold concentrations with a laser that destroys the cancer.

What about cancers hiding where lasers can't read? They're working on that, too. One potential method is to "load" the gold nanoparticles with a toxin that will only be triggered once it has entered a cancer cell.

The point is, gold may be the "magic bullet" for detecting and surviving cancer. I guarantee that's the biggest secret application of gold you've never read about.

And while this research is still in its earliest stages, it's the foundation for huge fortunes for early investors.

To a bright future,

Ray Blanco
for The Daily Reckoning

The post Gold's Crazy Secret appeared first on Daily Reckoning.

'The whole world is buying gold here,' Eric Sprott tells King World News

Posted: 08 Feb 2017 11:54 AM PST

2:55p ET Wednesday, Februqry 8, 2017

Dear Friend of GATA and Gold:

Mining entrepreneur and investment house founder Eric Sprott tells King World News today that "the whole world is buying gold here." Sprott adds that he suspects that Western central banks for years have been inducing the Indian government to undertake measures to restrain gold demand in that country. The interview is excerpted at KWN here:

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


Storage and Withdrawal of Gold with Bullion Star in Singapore

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage. With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage® online around the clock. Storage rates are competitive.

For more information, please visit Bullion Star here:

Join GATA here:

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Friday, February 24, 2017
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For a 10% percent discount, use the discount code "GATA"

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Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre

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Now It Is The Elite That Are Feverishly ‘Prepping’ For The Collapse Of Society

Posted: 08 Feb 2017 10:49 AM PST

 Event Is Coming Soon - Now It Is The Elite That Are Feverishly 'Prepping' For The Collapse Of Society.Once upon a time, "prepping" was something that was considered to be on "the lunatic fringe" of society. But in 2017, wealthy elitists are actually the most hardcore preppers of all. This is...

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U.S. Exorbitant Privilege At Risk?!

Posted: 08 Feb 2017 07:10 AM PST

The U.S. was the anchor of the Bretton Woods agreement that collapsed when former President Nixon ended the dollar's convertibility into gold in 1971. Yet even when off the remnants of the gold standard, the U.S. has continued to be the currency in which many countries hold their foreign reserves. Why is that, what are the benefits and what are the implications if this were under threat?

USD Rolling Over, SPX Weakening

Posted: 08 Feb 2017 05:52 AM PST

Good Morning! USD futures are fading this morning as a smaller overnight retracement failed to exceed yesterday’s high at 100.69. ZeroHedge reports, “We're going to need another Fed speaker... Harker comments overnight on March being live spiked the Dollar...

Gold and Silver Market Morning: Feb 8 2017 - SPDR investors now include large hedge funds!

Posted: 08 Feb 2017 05:19 AM PST

While U.S. based gold investors have returned to the gold market via the SPDR [GLD] gold ETF, we had not heard of any large gold investors returning until now. Today we have received reports that Drukenmiller, having exited the gold market in December, has returned to it.

Gold Buying Russia To Intensify Diversification On Trump ‘Unpredictability’?

Posted: 08 Feb 2017 05:12 AM PST

Russia has been diversifying into gold since before the global financial crisis and views it as a safe haven asset and a hedge against a devaluation of the dollar and indeed the beleaguered euro. This is something we wrote about as long ago as 2007 – see here. Thus, Russia was buying gold long before Trump's election.

Gold miners burned by bad deals are again rushing to M&A

Posted: 08 Feb 2017 04:31 AM PST

By Kevin Crowley
Bloomberg News
Tuesday, February 7, 2017

It's been a dirty word in the gold-mining industry for the last three years, but now companies can't stop saying it: growth.

Top executives are on the hunt for mergers and acquisitions, and focusing on exploration as the industry emerges from survival mode. Gold prices have recovered and cost cuts are taking effect, delivering profits for companies that need to remedy a shortage of new discoveries and declining reserves.

The trouble is that they have a bad history when it comes to dealmaking. In the China-led commodity boom, the entire mining industry spent heavily on deals and big projects that soured when metals prices later collapsed. Companies wrote off close to $100 billion between 2011 and 2016, according to analysts at Investec Ltd.

Gold producers say this time will be different, but the losses generated by a decade of wasteful spending during the bull market to 2011 are still fresh in investors' memories. While th gained 7.6 percent this year to $1,234.30 an ounce, that's still much lower than the record of more than $1,900 set five years ago.

"All of us have got one issue and that's we haven't much exploration in the last 10 years, and all our assets' lives are getting shorter," Peter Steenkamp, chief executive officer of Harmony Gold Mining Co., said in an interview at the Mining Indaba conference in Cape Town. "Everybody is looking to replace the ounces that they're mining." ...

... For the remainder of the report:


K92 Mining Drills Multiple High-Grade Gold Intersections

Company Announcement
Friday, January 27, 2017

K92 Mining Inc. (TSXV–KNT) announces the latest results from the ongoing grade control drilling program at its high-grade Kainantu Gold Mine in Papua New Guinea. K92 is ramping up the Kainantu gold mine toward commercial production, with its longest continuous production run to date now commenced.

In September 2016 K92 began a campaign of close-spaced underground diamond drilling as part of a comprehensive grade-control strategy. The current grade-control drilling program is focused on the areas of Irumafimpa and is designed to bring a high degree of confidence to the production planning and scheduling. K92 plans to mine this area in the coming six months. The closed-space drilling pattern of approximately 15 metres by 15 meters has significantly increased the confidence in this sparsely drilled area, with most holes recording high-grade intersections. Approximately 80 percent of the holes completed to date have recorded multiple high-grade intersections indicating the presence of multiple parallel to sub parallel high-grade veins. ...

... For the remainder of the announcement:

Join GATA here:

Dollar Vigilante Internationalization and Investment Summit
Friday, February 24, 2017
Resort Mundo Imperial
Acapulco, Mexico
For a 10% percent discount, use the discount code "GATA"

Mining Investment Asia
Tuesday-Friday, March 28-31, 2017
Marina Bay Sands, Singapore

Mines and Money Asia
Wednesday-Friday, April 5-7, 2017
Hong Kong Convention and Exhibition Centre

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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:

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What an America First Trade Policy Could Mean for the US Dollar

Posted: 08 Feb 2017 04:06 AM PST

John Grandits : A key pillar of Donald Trump’s presidential campaign, and now policy formation, is an “America First” approach. So far, this has entailed much discussion around negotiating more favorable trade deals, withdrawing from possible participation in the Trans-Pacific Partnership, citing potential currency manipulators, and construction of a wall along the Mexican border, to name a few.

U.S. Dollar Exorbitant Privilege At Risk?!

Posted: 08 Feb 2017 03:55 AM PST

If the road to hell is paved with good intentions, American's exorbitant privilege might be at risk with broad implications for the U.S. dollar and investors' portfolios. Let me explain.

US Dollar Breaks below USD100 with Rising Yields, is Wholesale US Treasury Dump Coming?

Posted: 08 Feb 2017 03:39 AM PST

The US Dollar Index has fallen below the psychological 100 level, while 2-year and 10-year US Treasury yields remain above multi-year support levels. This is despite the Federal Open Market Committee keeping the Federal Funds rate steady at 0.75% on Feb 1, 2017.

Utah May Soon Dump Federal Reserve: “Put Trust Back in God and Gold, Rather Than Central Bank”

Posted: 08 Feb 2017 03:00 AM PST


Gold and Silver Divergence - Keith Weiner

Posted: 08 Feb 2017 02:16 AM PST

Sprott Money

Breaking News And Best Of The Web

Posted: 08 Feb 2017 01:37 AM PST

What survives the coming reset? Not your bank account or IRA. US stocks remain near all-time highs, gold and silver down on stronger dollar. Trump immigration plan challenged in court. Debate over Putin intensifies. French election uncertainty rocks euro bonds  Best Of The Web Which assets are most likely to survive the inevitable “system re-set”? […]

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

Terraco Gold Expands Royalty on Spring Valley Gold Project in Nevada

Posted: 08 Feb 2017 12:00 AM PST

After a relatively long period without significant news, Terraco Gold seems to have shifted a gear now, so The Critical Investor sat down with CEO Todd Hilditch for a company update.

Gold Price Over $1240, Regains 'Trump Dump' in Euros as 'Disunity' Spreads in France, Italy, Scotland

Posted: 07 Feb 2017 04:00 PM PST

Gold prices rose to $1240 per ounce in London on Wednesday, regaining almost half of their post-US election slump as Euro stock markets slipped and government bond prices rose amid fresh fears over the currency union's 2017 political outlook.

Gold and Crude Oil Link – What Does It Say?

Posted: 07 Feb 2017 09:19 AM PST

Trading position (short-term; our opinion): Short positions (with a stop-loss order at $56.45 and an initial downside target at $45.81) are justified from the risk/reward perspective. On Monday, crude oil lost 1.52% after oil investors reacted to Friday’s Baker Hughes’ report, which showed that U.S. drillers added 17 rigs, which was the 13th increase in the past 14 weeks. Thanks to this news light crude reversed and declined to the previously-broken short-term support/resistance line. Will it manage to stop oil bears in the coming days? Is it possible that the relationship between gold and crude oil give us more clues about oil’s future moves?

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