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- Killing Khashoggi: A Round-Up Of Some Crazy Twists And Turns Over The Last 24 Hours
- Is Australia on a 5.55% gold standard?
- Ready To Topple The Deep State: Trump’s First Two Years Have Been For Placing The Dominoes
- A $400 Oil Price Is Actually Not That Far-Fetched
- Have The Chinese Lost Control? Something Is Going On With Gold, The Yuan, And The Peg
- Mortgage Applications Tank As Interest Rates Soar
- Elliott Wave Technical Analysis Signals Higher Gold Prices With An Initial Projected Target Of $1270.70
- If The Economist’s 1988 And Now 2019 Warnings Are Correct Then We Are Almost OUT OF TIME
- Global Warming (Assuming You Believe It) Does Not Affect Gold
- US Stock Market Indices Mount An Impressive Early Recovery
- Former Fed Insider: The Real Hawks At The Fed Have Gold In Their Personal Portfolios
- Breaking News/Best Of The Web
- Interview: Gold, GDX, GDXJ Targets & Equity Market Weakness Impact
- Deep Drilling Hits Thick Oxide Gold Intervals at Nevada Deposit
- Gold Explorer Finds Mineralization South of Recent Discovery
- Golden Triangle Property Yields 'High-Grade Gold Discovery'
- Gold Explorer Uncovers More High-Priority Drill Targets in Red Lake
- Gold Junior 'Set to Break Out'
- The Incredibly Bullish Set-Up for Gold
| Killing Khashoggi: A Round-Up Of Some Crazy Twists And Turns Over The Last 24 Hours Posted: 18 Oct 2018 02:08 PM PDT The hacked-to-death journalist story has taken many twists and turns over the last 24 hours. Let’s cut through the fat to get to the meat of the story… What a […] The post Killing Khashoggi: A Round-Up Of Some Crazy Twists And Turns Over The Last 24 Hours appeared first on Silver Doctors. |
| Is Australia on a 5.55% gold standard? Posted: 18 Oct 2018 02:00 PM PDT Delving further into the Reserve Bank of Australia statistics following on from my response to John and Martin in The Mystery Of The Missing Australian Gold I came across some curious relationships between Australia's gold reserves and its money supply. Before I get to that, there is some additional detail I missed in respect of the RBA's gold management and John and Martin's comment that the 0.15% earned on our gold was non commercial. To recap, the chart below shows the historical gold lease rates the RBA has achieved.  To put that rate in perspective, Nick Laird from Gold Charts 'R' Us helps out with this dervied lease rate chart, which provides more recent figures than the chart in my previous post.  The purple arrow indicate the time period related to the RBA annual report where the 0.15% figure was reported. To confirm whether 0.15% is reasonable, we need to know for what durations the gold was leased. While the RBA ceased reporting on the credit limit breakdown of its leases (as I reported on here), they still provide a duration breakdown, see the chart below.  The RBA reported average balance was 4 tonnes in less than 3 months and 5.1 tonnes between 3 to 12 months. That works out about 5 months average duration, which is closest to the 6 month green line in Nick's chart. In that case, the 0.15% looks like a fair result from the RBA. In the video Martin used the treasury 10 year rate as a comparison but even if cash and gold rates were comparable, this was unlikely to be a fair comparison as the gold market tends to concentrate lending in the shorter end. The chart above from the RBA shows this and if you look at Comex gold futures open interest or LME forwards (which only go out to 5 years), you will see that the liquidity is focused on the short end (note: future and forward prices are related to leasing rates). Compared to maturity transformation in dollar banking, where banks lend for durations beyond 20 years (eg your conventional home mortgage), this concentration on the short end is very significant when trying to assess the risks fractional reserve bullion banking poses to the gold market. The lower the maturity transformation the less a bullion bank is likely to get caught in a run on unallocated gold (although this assumes that bullion banks source a lot of funding via unallocated balances, which is not something there is data on). The RBA also provides historical statistics on its balance sheet, which enable us to look back to 1969 to see how much of the bank's reserves were in the form of gold (note the changing balance of gold reserves pre 1992 may be more a factor of my estimated exchange and gold prices when trying to convert the RBA's AUD balances into ounces).  The big increase in the 1970s is obviously a function of the bull market in gold but outside of that Australia seems to have been averaging around 20% of its reserves in gold. After the big sale in 1997, it is remarkable that the percentage is relative stable. Interestingly, up until 1931, Australia's gold reserve requirement was 25% in gold coin or bullion on bank notes (link), after which there was no requirement. I wonder if the figures from 1931 to 1969 would show a de facto 25% standard being maintained. Speaking of bank notes and gold backing, calculating the value of Australia's gold reserves as a percentage of banknotes on issue produces the chart below.  Isn't that a curious stability, averaging 5.55% within a range of 3.7% to 8.6% since the sale - is the RBA surreptitiously maintaining Australia on a 5.55% gold standard? One final observation: if we were to move to 100% gold backed banknotes it would require Australia to hold gold reserves of 1,457 tonnes. At Australia's current rate of gold mine production it would only take us five years to get there. Something to aim for, or are we better off to just keep shipping our gold off to China? |
| Ready To Topple The Deep State: Trump’s First Two Years Have Been For Placing The Dominoes Posted: 18 Oct 2018 01:30 PM PDT Quite Frankly & Dave from X22 discuss behind the scene efforts to take down the Deep State. It will be a 2-year fireworks show after the mid-term elections! Frank from […] The post Ready To Topple The Deep State: Trump’s First Two Years Have Been For Placing The Dominoes appeared first on Silver Doctors. |
| A $400 Oil Price Is Actually Not That Far-Fetched Posted: 18 Oct 2018 12:00 PM PDT Think the recent Saudi threat of $400 oil is far-fetched? It may not be as far-fetched as it seems. Here’s why… by Jody Chudley of Daily Reckoning For half a […] The post A $400 Oil Price Is Actually Not That Far-Fetched appeared first on Silver Doctors. |
| Have The Chinese Lost Control? Something Is Going On With Gold, The Yuan, And The Peg Posted: 18 Oct 2018 10:30 AM PDT Something has snapped this week as the People’s Bank of China appears to have lost the ability to manage the gold peg. Here are the details… from Zero Hedge Yesterday, […] The post Have The Chinese Lost Control? Something Is Going On With Gold, The Yuan, And The Peg appeared first on Silver Doctors. |
| Mortgage Applications Tank As Interest Rates Soar Posted: 18 Oct 2018 09:00 AM PDT Weekly mortgage applications fell a whopping 7.1% as borrowing costs surged. Here are the details… by Mac Slavo of SHTFplan Weekly mortgage application fell a whopping 7.1% as the cost […] The post Mortgage Applications Tank As Interest Rates Soar appeared first on Silver Doctors. |
| Posted: 18 Oct 2018 07:30 AM PDT Elliott Wave analysis shows gold should be headed to $1236.90 and beyond. Here’s where the technicals say gold is going, and where it will find resistance… by Captain Ewave of […] The post Elliott Wave Technical Analysis Signals Higher Gold Prices With An Initial Projected Target Of $1270.70 appeared first on Silver Doctors. |
| If The Economist’s 1988 And Now 2019 Warnings Are Correct Then We Are Almost OUT OF TIME Posted: 18 Oct 2018 06:12 AM PDT In these 33 days between 10/10 and 11/11, with a global reset date of Nov 11th, we now learn the reset includes a WORLDWIDE BLACK-OUT. Here’s more… Editor’s Note: Quick […] The post If The Economist’s 1988 And Now 2019 Warnings Are Correct Then We Are Almost OUT OF TIME appeared first on Silver Doctors. |
| Global Warming (Assuming You Believe It) Does Not Affect Gold Posted: 18 Oct 2018 04:30 AM PDT Could global warming be the proximate cause for gold to rally in price? You may have thought you’ve heard it all, but just in case, here’s some insight… by Avi […] The post Global Warming (Assuming You Believe It) Does Not Affect Gold appeared first on Silver Doctors. |
| US Stock Market Indices Mount An Impressive Early Recovery Posted: 18 Oct 2018 03:00 AM PDT As fast as the downside breakout occurred, the upside recovery appears to be taking place as Q3 Earnings begin to hit the news wires. Here are the details… by Chris […] The post US Stock Market Indices Mount An Impressive Early Recovery appeared first on Silver Doctors. |
| Former Fed Insider: The Real Hawks At The Fed Have Gold In Their Personal Portfolios Posted: 17 Oct 2018 08:30 PM PDT Danielle DiMartino Booth has a few things to say about how the Fed views gold, and a tip for how to spot the true hawks at the Fed. Here are […] The post Former Fed Insider: The Real Hawks At The Fed Have Gold In Their Personal Portfolios appeared first on Silver Doctors. |
| Posted: 17 Oct 2018 07:20 PM PDT Guggenheim: "Expect risk-off everywhere with a 40% crash" … Casey: Income exodus just wiped out $1 trillion from investors … New York Times: The Saudi cover-up crumbles … Gold and silver up as “safety play” amid stock/bond turmoil; “silver's time is coming” … Best Of The Web Yes, something just broke – Lance Roberts, Real […] The post Breaking News/Best Of The Web appeared first on DollarCollapse.com. |
| Interview: Gold, GDX, GDXJ Targets & Equity Market Weakness Impact Posted: 17 Oct 2018 02:48 PM PDT Jordan Roy-Byrne, Founder of The Daily Gold joins me today to address the relative strength of the move up in gold and gold stocks. He shares some of the minimum upside targets he expects gold and the gold ETFs to reach. It is also important to understand the overall strength of this move has been relatively weak. However the global equity markets look even weaker which will matter for US markets one day… Click Here to Learn More About TheDailyGold Premium
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| Deep Drilling Hits Thick Oxide Gold Intervals at Nevada Deposit Posted: 17 Oct 2018 01:00 AM PDT This Canadian company released the results from two more drill holes. Visit the aureport.com for more information and for a free newsletter |
| Gold Explorer Finds Mineralization South of Recent Discovery Posted: 17 Oct 2018 01:00 AM PDT Drill results from this Golden Triangle project continue highlighting further exploration potential. Visit the aureport.com for more information and for a free newsletter |
| Golden Triangle Property Yields 'High-Grade Gold Discovery' Posted: 17 Oct 2018 01:00 AM PDT A Canadian explorer reported the first assays from two zones at its project. Visit the aureport.com for more information and for a free newsletter |
| Gold Explorer Uncovers More High-Priority Drill Targets in Red Lake Posted: 17 Oct 2018 01:00 AM PDT The new findings will be incorporated into this Canadian company's 2018–2019 drill program. Visit the aureport.com for more information and for a free newsletter |
| Gold Junior 'Set to Break Out' Posted: 17 Oct 2018 01:00 AM PDT Technical analyst Clive Maund charts a relatively unknown gold stock that he believes is positioned to break out. Visit the aureport.com for more information and for a free newsletter |
| The Incredibly Bullish Set-Up for Gold Posted: 17 Oct 2018 01:00 AM PDT Precious metals expert Michael Ballanger discusses the bullish set-up for gold and why he believes this time is different. Visit the aureport.com for more information and for a free newsletter |
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