Monday, February 6, 2017



ALERT: The Stock Market Just Fired A Warning Shot. This Is What’s Next

Posted: 06 Feb 2017 12:00 PM PST

Greg Mannarino Warns This Is What’s Next:

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$700 Million In Gold?

Posted: 06 Feb 2017 11:05 AM PST

Greece wasn’t always bankrupt…   From Sovereign Man: In the year 440 BC, more than two decades into the reign of Pericles, an audit of treasury in Athens showed a massive surplus of more than 9700 "talents". A talent was a common unit of measurement in the ancient world, especially for gold and silver. And, […]

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The Apartment Glut Cometh – Adios Housing Market

Posted: 06 Feb 2017 11:00 AM PST

Adios Amigo!… From Fund Manager Dave Kranzler: Driving by the west-side border of downtown Denver (on I-25), I can count 9 cranes in air plus one semi-finished high-rise building.  What's amusing about this is that there's already an oversupply of rental apartments and condos as the 1-2 month free + free parking incentives reflect.   […]

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Captain America Saves The Day

Posted: 06 Feb 2017 10:15 AM PST

After a long weekend, capped by an epic comeback led by Captain America, it's time to get back to work. We've got a full week ahead and we're off to solid start with new 2017 highs for Comex Digital Gold.

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The Mysteries Of Antarctica Revealed? “Someone Or Something Has Summoned The World’s Political and Religious Leaders to Antarctica”

Posted: 06 Feb 2017 10:05 AM PST

Why are the world's religious leaders and the world's most powerful leaders going to Antarctica?   From Mac Slavo: The mysteries surrounding one of the world's largest but least explored land masses continue to be revealed. From recent images showing what appear to be Pyramids similar to those of Giza to evidence of once-luscious rain forests, […]

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Egon von Greyerz Warns £, $, €, & ¥ Will Be Worthless Within 5 Years, Gold $10k & Silver $500 GUARANTEED

Posted: 06 Feb 2017 09:30 AM PST

The world is now standing on the edge of the precipice, the next phase could happen very quickly. Because we are now looking at a situation when every major nation in the world has an insoluble debt crisis. This does not just include all Western countries but also China, Japan and most emerging market nations.  […]

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Critically High US Silver Supply Reliance In Jeopardy When Paper Markets Crack

Posted: 06 Feb 2017 09:15 AM PST

This is not a matter of if, but WHEN. This chart below says it all:   From SRSRocco: The U.S. silver supply will likely be in jeopardy in the future when the highly inflated paper markets finally crack.  This is not a matter of if, but WHEN.  If we consider the top two precious metals […]

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Will Trump Crash The System? An Interview With Bix Weir

Posted: 06 Feb 2017 08:00 AM PST

Will Trump INTENTIONALLY Trigger A Massive Market Crash In An Effort To Rebuild the US Economy? Submitted by Jeff Berwick: We recently interviewed Bix Weir about a number of topics including the future of the US economy and how Donald Trump will affect it, plus Mexico's large silver reserves and the nature of the precious […]

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Gold price steady amid Bureau of Labour Statistics report, no Fed announcement expected in short term

Posted: 06 Feb 2017 03:34 AM PST

The Bureau of Labour Statistics (BLS) released its monthly report last Friday, with the 'US economy creating 227,000 new jobs in January, as jobless rate rises to 4.8%', according to the Guardian....

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Breaking News And Best Of The Web

Posted: 06 Feb 2017 01:37 AM PST

Fed leaves rates unchanged, Yellen says optimistic things. US stocks open down after Friday’s big gains, gold and silver up again on weakening dollar. President Trump bans immigration from several countries, fires acting attorney general for refusing to enforce ban, names supreme court nominee. Debate over Putin intensifies.   Best Of The Web A murderous […]

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Gold and Silver Divergence, Report 5 Feb, 2017

Posted: 05 Feb 2017 11:10 PM PST

Monetary Metals

Debt Apocalypse Beckons As U.S. Consumer Bankruptcies Do Something They Haven’t Done In Almost 7 Years

Posted: 05 Feb 2017 04:04 PM PST

Bankrupt - Public DomainWhen debt grows much faster than GDP for an extended period of time, it is inevitable that a good portion of that debt will start to go bad at some point.  We witnessed a perfect example of this in 2008, and now it is starting to happen again.  Commercial bankruptcies have been rising on a year-over-year basis since late 2015, and this is something that I have written about previously, but now consumer bankruptcies are also increasing.  In fact, we have just witnessed U.S. consumer bankruptcies do something that they haven’t done in nearly 7 years.  The following comes from Wolf Richter

US bankruptcy filings by consumers rose 5.4% in January, compared to January last year, to 52,421 according to the American Bankruptcy Institute. In December, they'd already risen 4.5% from a year earlier. This was the first time that consumer bankruptcies increased back-to-back since 2010.

However, business bankruptcies began to surge in November 2015 and continued surging on a year-over-year basis in 2016, to reach a full-year total of 37,823 filings, up 26% from the prior year and the highest since 2014.

Of course consumer bankruptcies are still much lower than they were during the last financial crisis, but what this could mean is that we have reached a turning point.

For years, the Federal Reserve has been encouraging reckless borrowing and spending by pushing interest rates to ultra-low levels.  Unfortunately, this created an absolutely enormous debt bubble, and now that debt bubble is beginning to burst.  Here is more from Wolf Richter

The dizzying borrowing by consumers and businesses that the Fed with its ultra-low interest rates and in its infinite wisdom has purposefully encouraged to fuel economic growth, if any, and to inflate asset prices, has caused debt to pile up. That debt is now eating up cash flows needed for other things, and this is causing pressures, just when interest rates have begun to rise, which will make refinancing this debt more expensive and, for a rising number of consumers and businesses, impossible. And so, the legacy of this binge will haunt the economy – and creditors – for years to come.

Despite all of the economic optimism that is out there right now, the truth is that U.S. consumers are tapped out.

If the U.S. economy truly was doing great, major retailers would not be closing hundreds of stores.  Sears, Macy’s and a whole host of other big retailers are closing stores because those stores are losing money.  It truly is a “retail apocalypse“, and this trend is not going to turn around until U.S. consumers start to become healthier financially.

We also see signs of trouble in the auto sales numbers.  Compared to 2016, sales were way down in January this year

Compared to January last year, car sales collapsed for all three US automakers, and the largest Japanese automakers didn't do much better:

  • GM -21.1%
  • Ford -17.5%
  • Fiat Chrysler -35.8%
  • Toyota -19.9%
  • Honda -10.7%
  • Nissan -9.0%

For all automakers combined, car sales sagged 12.2% from a year ago.

A lot of attention is given to our 20 trillion dollar national debt, and rightly so, but a similar amount of attention should be paid to the fact that U.S. households are collectively more than 12 trillion dollars in debt.

About two-thirds of the nation is essentially living paycheck to paycheck.  Most families really struggle to pay the bills from month to month, and all it would take is a major event such as a job loss or a significant illness to plunge them into financial oblivion.

In America today we are told that the secret to success is a college education, but most young Americans have to go deep into debt to afford such an education.

As a result, most college graduates start out life in the “real world” with a mountain of debt.  And since many of them never find the “good jobs” that they were promised, repayment of that debt becomes a very big issue.  In fact, the Wall Street Journal has discovered that student loan repayment rates are much worse than we were being told…

Last Friday, the Education Department released a memo saying that it had overstated student loan repayment rates at most colleges and trade schools and provided updated numbers.

When The Wall Street Journal analyzed the new numbers, the data revealed that the Department previously had inflated the repayment rates for 99.8% of all colleges and trade schools in the country.

The new analysis shows that at more than 1,000 colleges and trade schools, or about a quarter of the total, at least half the students had defaulted or failed to pay down at least $1 on their debt within seven years.

If you do find yourself deep in debt, a lot of families have found success by following a plan that was pioneered by author Dave Ramsey.  His “Debt Snowball Plan” really works, but you have to be committed to it.

Getting out of debt can be tremendously freeing.  So many people spend so many sleepless nights consumed by financial stress, but it doesn’t have to be that way.

Most of us have had to go into debt for some reason or another, and not all debt is bad debt.  For example, very few of us would be able to own a home without getting a mortgage, and usually mortgages come with very low interest rates these days.

But other forms of debt (such as credit card debt or payday loans) can be financially crippling.  When it comes to eliminating debt, it is often a really good idea to start with the most toxic forms of debt first.

It has been said that the borrower is the servant of the lender, and you don’t want to spend the best years of your life making somebody else rich.

Whether economic conditions turn out to be good or bad in 2017, the truth is that each one of us should be trying to do what we can to get out of debt.

Unfortunately, a lot of people never seem to learn from the past, and I have a feeling that both consumer and commercial bankruptcies will continue to rise throughout the rest of this year.

Top Ten Videos — February 6

Posted: 05 Feb 2017 04:01 PM PST

Is your IRA safe? No. Is China taking over the gold market? Maybe. Is the financial system about to break? James Grant and John Williams think so.                    

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Gold was not selected arbitrarily by governments to be the monetary standard

Posted: 05 Feb 2017 04:00 PM PST

Food for thought

China stocked up on Swiss gold as turbulent year came to a close

Posted: 05 Feb 2017 04:00 PM PST

USA Gold

Market Report: Gold in the Post-Election Market

Posted: 05 Feb 2017 01:41 PM PST

Something EXTRAORDINARY has happened in recent futures trading:   From Alasdair Macleod: Gold and silver resumed their uptrend this week to challenge recent highs, last seen on 23 January. The best levels were mid-week, before some end-of-week profit-taking took place. In early European trade this morning (Friday) gold was trading at $1213, up $22 from […]

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US Mint Bullion Gold & Silver Coin Sales

Posted: 05 Feb 2017 11:01 AM PST

When American investors buy physical gold and silver bullion, it's often in the form of these American Eagle 1-ounce coins. Gold's first new bull market since 2011 last year was overwhelmingly driven by stock investors flooding into gold ETFs.  Traditional physical bar-and-coin demand was actually quite weak, falling considerably year-over-year.  Nevertheless, it's still important to […]

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Jack Chan: This Past Week in Gold

Posted: 04 Feb 2017 04:00 PM PST

The Gold Report

Jack Chan: This Past Week in Gold

Posted: 04 Feb 2017 12:00 AM PST

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

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