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- China is trying to centrally plan its way out of a black hole
- Deflation? Commodities are cheapest since 2002...
- 3 Big Reasons Why The ‘Greek Debt Deal’ Is Really A German Trap
- Speculators smash gold as dollar squeeze tightens
- This is what ‘austerity’ really means…
- Gold Price Recovers Half of 4% Asian Crash to 5-Year Low After China Reserves Update
- Banking, as we know it, will not exist in 10 years
- Are Gold Investors Finally Capitulating?
- Bo Polny’s Latest Explanation For June/July MOONSHOT Prediction for Gold/Silver
- China’s Total Gold Holdings Much Higher – Owns Gold In SAFE and CIC
- Germany Never Intended For Greece To Stay In The Euro
- Comex Paper Gold Open Interest Continues Its Vertical Ascent
- Banks Forgot Who Was Supposed to Own Dell Shares
- Silver Eagles Sold Out, But Silver Flash Crashes: U.S. Financial Markets Have Lost All Credibility
- Gold Fulfilling A Year-Old Forecast!
- Lets Talk About Gold
- Looking Forwards from 7 Months Back May Help Clarify the Fog
- Gold and the Silver Stand-Off: Demarketing and Deep Value – Paul Mylchreest
- Gold price rout a classic market bottom say contrarians
- Dissection of a gold price smash
- Dissection of a gold price smash
- Did A Major Gold And Silver Breakdown Just Begin?
- Gold Slumps As Risk Eases and US Rate Hike in Focus
- Gold and Silver: Trouble Ahead
- Gold Drops Below Critical Support Levels
- Gold an Inch from a Very Key Support
- $2.7bn gold dump in China causes price ‘flash crash’
- US dollar up, gold lowest since 2010
- Gold and Silver Update
- HERE WE GO: Gold Plunges Through $1080 to New Bear Market Lows
- The President Of France Wants Eurozone Members To Transfer Their Sovereignty To A United States Of Europe
- CHARTS : Gold Price Channel
- Guest Post: "Analyzing PBOC Official Gold Reserves Increment", by Koos Jansen of Bullion Star
| China is trying to centrally plan its way out of a black hole Posted: 20 Jul 2015 01:00 PM PDT China's response to their financial emergency has been the same as their water emergency: deceit and desperation. Submitted by Simon Black, Sovereign Man: It's here in southwestern China's postcard-perfect Yunnan province that the mighty Mekong River rises. From its source in a nearby mountain range, the river proceeds south, cutting its way across Southeast […] The post China is trying to centrally plan its way out of a black hole appeared first on Silver Doctors. |
| Deflation? Commodities are cheapest since 2002... Posted: 20 Jul 2015 12:35 PM PDT From Bloomberg: The rout in commodities deepened with prices touching the lowest since 2002 as the prospect of higher U.S. interest rates sent gold tumbling. Raw materials are losing favor with investors as the dollar gains amid signals from Federal Reserve Chair Janet Yellen that the central bank may raise rates this year on the back of an improving U.S. economy. Higher borrowing costs curb the attractiveness of commodities such as gold, which doesn’t pay interest or give returns like assets including bonds and equities. The Bloomberg Commodity Index dropped as much as 1.4 percent, falling for a fifth day in the longest stretch of declines since March. Gold futures sank to the weakest in more than five years while industrial metals, grains, Brent crude and U.S. natural gas also slid as a measure of the dollar climbed to the highest since April 13. “Any increase in U.S. interest rates should further strengthen the dollar, prompting more fund outflows from commodities, metals and emerging-market assets,” Vattana Vongseenin, the chief executive officer of Phillip Asset Management Co. in Bangkok, said by phone. The Bloomberg Commodity Index slid 1.3 percent to 96.2949 at 10:10 a.m. New York time, after touching 96.1913, the lowest since June 2002. With raw materials fetching lower prices, shares of commodity producers are tumbling. The 15-member Bloomberg Intelligence Global Senior Gold Valuation Peers Index, which includes AngloGold Ashanti Ltd. and Newcrest Mining Ltd., dropped as much as 8.4 percent.       |
| 3 Big Reasons Why The ‘Greek Debt Deal’ Is Really A German Trap Posted: 20 Jul 2015 12:00 PM PDT Greece is saved? All over the planet, news headlines are boldly proclaiming that a "deal" has been reached which will give Greece the money that it needs and keep it in the eurozone. But as you will see below, this is not true at all. From The Economic Collapse Blog: Yesterday, when I wrote […] The post 3 Big Reasons Why The 'Greek Debt Deal' Is Really A German Trap appeared first on Silver Doctors. |
| Speculators smash gold as dollar squeeze tightens Posted: 20 Jul 2015 11:25 AM PDT News that China's gold reserves are far lower than assumed has rattled investors, but Beijing may not have told the full story     This posting includes an audio/video/photo media file: Download Now |
| This is what ‘austerity’ really means… Posted: 20 Jul 2015 11:10 AM PDT From Bill Bonner, Chairman, Bonner & Partners: Protesters gathered in Syntagma Square in Athens last week… They were remonstrating against the cruelty of life in general and, more specifically, the deal their government made with its creditors. “Greek workers taken to the cleaners, as Tsipras forced to retreat on promises,” reports the Financial Times. “Austerity,” the papers call it. But that is just the public narrative… Austerity is what Greece would have gotten without $220 billion in bailout funds from its neighbors and two debt restructurings. Without these, public sector wages… and pensions… would go unpaid. The banking system would collapse. And Greek savings would be obliterated. Bribes and PayoffsIn reality, Greece is just cutting back on the extravagant bribes and payoffs to zombies; it’s the price of keeping the whole game going. If the Greeks want more money, they have to pretend to use it prudently. If their crony lenders want to keep lending, they have to pretend that they will get their money back. Like the zombie wars in the Middle East, the important thing is not to win. Or to resolve problems. The important thing is to keep the money flowing. Despite the protests, the zombies in Athens were generally quiet and listless last night. They knew the new deal struck in Brussels over the weekend would keep the human flesh coming their way, though not as much as they wanted. What’s the alternative? Default on their debt and live within their means? “We hope Syriza will look after us,” said a janitor. “As long as I live, I hope.” Meanwhile in Washington, Janet Yellen was pretending to look after janitors, too. “Looking forward, prospects are favorable for an improvement in the U.S. labor market and the economy more broadly,” she said. As if she would know! Yellen went on to suggest that the Fed might move to “normalize” interest rates later this year – if things evolve as expected. “People need myths,” said a colleague in Paris, Simone Wapler, over lunch yesterday. “They need a public narrative simple enough for them to understand.” Good vs. evil, black vs. white, red states vs. blue states, evil Germans vs. put-upon Greeks – the narrative must be stripped of all nuance, subtlety, and contradiction. That is to say it must be stripped of anything resembling real life. The popular myth about the 2008 global financial crisis was that it was caused by greed and deregulation. Then the authorities stepped in to save the day. Since then, they have carefully nurtured a “recovery.” When appropriate, Ms. Yellen will turn the economy back over to market forces. Zombies Galore!At the Diary we have a different narrative – still evolving, rough around the edges, and necessarily full of paradox and confusion. What is really going on is a Great Zombie War. The layabouts, manipulators, and grifters are fighting to maintain their hold on the productive economy’s output. It’s getting harder and harder for them to do so. First, because there are so many zombies. There’s not enough human flesh to go around. Second, the zombies have imposed so many regulations and distortions that the economy has become less productive. Many of the battles you see in the news are really battles between different groups of zombies, each fighting for a larger share of the loot. Teachers want pay increases. The Pentagon wants more planes, or tanks, or pensions. Wall Street wants more cheap credit. Of course, zombies will always be with us. And they will always want more flesh. What makes the Great Zombie War unique is that never before have there been so many zombies… and never before have they depended so heavily on credit. Usually, the unproductive parts of a society are limited to the surplus production available to them. And when the surplus disappeared, so did the zombies. Apparently, when food was short, Eskimo tribes put the older members of the tribe out on the ice, where they would drift away and disappear. In almost all cultures – as far as we know – laziness and parasitism are discouraged. In Switzerland, for example, the work ethic used to be so strong that a young man sitting on a park bench in the middle of the day was likely to be approached by an old person waving a cane: “Young man, why aren’t you at work?” Then along came the post-1971 money system – with its (theoretically at least) unlimited supply of credit. Suddenly, the sky was the limit for zombiedom… Firefighters want to retire at 45? No problem. Need a new sports stadium? More subsidies for sugar growers? Why not! Along with the easy money came a big relaxation in attitudes. Soon, people didn’t seem to mind the zombies around them. And they didn’t mind becoming zombies themselves. Taking welfare used to be a mark of failure and shame. “Disability” was reserved for people with genuine problems. Million-dollar paydays were regarded as unseemly, greedy, or vulgar. No more. Get it while you can! And why not? The new credit money was splashing out on the street like an open fire hydrant. Just put on your bathing suit and join in the summer fun. Deficits Without TearsIt appeared that society could support as many zombies as it wanted to – with no (current) loss to anyone else. But wait. What about the debt? In the mid-1980s, the Republican Party lost its traditional distaste for deficit spending. Conveniently, it discovered that deficits didn’t matter to voters. There was plenty of credit. Voters were happy to have bigger Social Security payments. And they would put up with another federal agency to pretend to improve education… or health… or whatever – so long as taxes weren’t raised to pay for it. The cost would be paid by someone somewhere someday. Who knew? Who cared? Households and businesses also discovered that deficits didn’t matter. People came to think that a big mortgage was a good thing. House prices were rising. Stocks were going up. If you wanted to get rich, you just had to get “on the escalator.” The bigger the mortgage, the bigger the house, the more stocks you owned – and the bigger the gain when you sold. So, total debt grew. From about 150% of GDP in the 1950s, 1960s, and 1970s, it rose to 350% of GDP after 2000. And the zombies ran wild from Wall Street to Syntagma Square – siphoning off trillions of dollars of capital from the productive economy. This is the world that the zombies and their crony allies are so desperate to protect. Regards, Bill Crux note: What’s happening in Greece is tame compared to the highly unusual monetary catastrophe Bill believes could soon hit America. It’s all detailed in the new presentation he has put together. As you’ll learn, it could affect your life in ways you never thought possible – including being locked out of your bank account and unable to use your credit card or deposit a check. Go here to get the full story.    |
| Gold Price Recovers Half of 4% Asian Crash to 5-Year Low After China Reserves Update Posted: 20 Jul 2015 11:01 AM PDT Bullion Vault |
| Banking, as we know it, will not exist in 10 years Posted: 20 Jul 2015 11:00 AM PDT This is a rather large nail in the coffin of the financial industry: Submitted by Simon Black, Sovereign Man: When I first came to Burma (Myanmar) several years ago, there was scarcely an ATM to be found anywhere. It was primitive. And frustrating. After all, most people coming from the West tend to think […] The post Banking, as we know it, will not exist in 10 years appeared first on Silver Doctors. |
| Are Gold Investors Finally Capitulating? Posted: 20 Jul 2015 09:59 AM PDT Sprott Asset Management’s Rick Rule is one of the smartest guys in the resource investing world — and one of the most reasonable — which has made his interviews of the past few years a little disconcerting. Along with the obligatory positive thoughts on the long-term value of gold and silver and the resulting bright future for the best precious metals miners, he always points out that the sector hasn’t yet endured a capitulation, where everyone just gives up and sells at any price, tanking prices and setting the stage for the next bull market. Knowing that this kind of existential crisis is still out there has taken the fun out of buying ever-cheaper mining stocks, which of course has been Rule’s point. Just because something is cheap doesn’t mean it can’t get a lot cheaper before its bear market is done. Some representative quotes from late in 2014:
Which brings us to the last few days’ crash in gold and silver prices. Both metals are now below the production cost of most miners, whose shares are cratering on the prospect of some truly horrendous operating results in the coming year. Which sounds a lot like what Rule is describing. One vote in favor of a near-term bottom (followed by a nice run to record prices) comes from Ned Schmidt, publisher of the Value View Gold newsletter, who in a report titled: $GOLD: Prelude to a Double notes that based on historical measures of investor sentiment and equity prices to gold, we’re just about there: “Last time the Street was as bearish on $Gold was 2007 when the price closed out the year at $830. $Gold went on to more than double.” |
| Bo Polny’s Latest Explanation For June/July MOONSHOT Prediction for Gold/Silver Posted: 20 Jul 2015 09:43 AM PDT The tail end of the June / July Final Capitulation wave down to wipeout and frustrate any remaining Gold and Silver Bulls before a NEW Bull market suddenly arrives that leaving all but the permabulls behind is right before us here and now. The Gold & Silver Paradigm Shift with Price Explosion referenced in prior updates […] The post Bo Polny’s Latest Explanation For June/July MOONSHOT Prediction for Gold/Silver appeared first on Silver Doctors. |
| China’s Total Gold Holdings Much Higher – Owns Gold In SAFE and CIC Posted: 20 Jul 2015 09:01 AM PDT gold.ie |
| Germany Never Intended For Greece To Stay In The Euro Posted: 20 Jul 2015 09:00 AM PDT There never was going to be any deal… From The Economic Collapse Blog: All along, Germany has been seeking to establish conditions that would never be met so that they could force Greece out of the eurozone. But the Germans had to do this subtly so that they would end up looking "reasonable" and […] The post Germany Never Intended For Greece To Stay In The Euro appeared first on Silver Doctors. |
| Comex Paper Gold Open Interest Continues Its Vertical Ascent Posted: 20 Jul 2015 08:18 AM PDT The only conclusion that can be drawn is that the Federal Reserve, likely on orders from the BIS, is going to try and suffocate the price of gold… Submitted by PM Fund Manager Dave Kranzler, Investment Research Dynamics: From sublime to ridiculousness there is only one step. – Napoleon The Fed is nothing but a […] The post Comex Paper Gold Open Interest Continues Its Vertical Ascent appeared first on Silver Doctors. |
| Banks Forgot Who Was Supposed to Own Dell Shares Posted: 20 Jul 2015 08:00 AM PDT Jim Sinclair warned years ago to GET OUT OF THE SYSTEM (GOTS) or demand the physical certificates in your name from your brokerage. THIS IS WHY: Nobody owns stock. What you own is an entitlement to stock held for you by your broker. But your broker doesn’t own the stock either. What your broker owns is an […] The post Banks Forgot Who Was Supposed to Own Dell Shares appeared first on Silver Doctors. |
| Silver Eagles Sold Out, But Silver Flash Crashes: U.S. Financial Markets Have Lost All Credibility Posted: 20 Jul 2015 07:15 AM PDT How can the price of silver be declining when the U.S. mint acknowledged last week that these is no supply for it to mint silver eagles? Submitted by PM Fund Manager Dave Kranzler, Investment Research Dynamics: The Fed no longer has credibility, and you can see that. The divergence between the futures markets […] The post Silver Eagles Sold Out, But Silver Flash Crashes: U.S. Financial Markets Have Lost All Credibility appeared first on Silver Doctors. |
| Gold Fulfilling A Year-Old Forecast! Posted: 20 Jul 2015 07:15 AM PDT investing |
| Posted: 20 Jul 2015 07:01 AM PDT Biwii |
| Looking Forwards from 7 Months Back May Help Clarify the Fog Posted: 20 Jul 2015 06:18 AM PDT Argentus Maximus talks about the July 2015 gold price break and releases his Rhythm and Price video newsletter from seven months ago.      |
| Gold and the Silver Stand-Off: Demarketing and Deep Value – Paul Mylchreest Posted: 20 Jul 2015 05:00 AM PDT The demarketing of gold may be close to running its course as it seems that sellers of paper gold instruments are attempting to induce one more sell-off to fully cover their diminishing short positions. Indeed, signs are emerging that the long Nikkei/short gold trade, which has done so much damage to gold's price, is becoming […] The post Gold and the Silver Stand-Off: Demarketing and Deep Value – Paul Mylchreest appeared first on Silver Doctors. |
| Gold price rout a classic market bottom say contrarians Posted: 20 Jul 2015 04:37 AM PDT What do you think caused the gold price ‘flash crash’? The manipulation from China this morning cited by Zerohedge.com (click here) or this nonsense in the video below about the coming dollar interest rate rise from Bloomberg? The more interesting point is to what extent we are now seeing a market bottom for gold. There is a long way back to the previous high of $1,923 and perhaps just a handful of dollars to the bottom. Website outage That’s going to be very painful for the record number of short sellers of gold now in the market. They will stop at nothing, including a suspected malicious attack on this website over the weekend. Our webmaster reports an overload consistent with a denial of service attack. What a coincidence it should occur just as this huge manipulation of the gold price went through. Perhaps the aim was to make sure that an optimistic or quirky article from us at the wrong time did not cost them a lot of money. Still how desperate are they now if they have to stoop as low as us? This just can’t go on much longer and that bottom gold price can’t be too far away. Then the speculative shorts will really be in trouble, and their short covering will give the gold price a ‘completely unexpected’ surprise rally. Bloomberg has the background but not the story on this one… |
| Dissection of a gold price smash Posted: 20 Jul 2015 02:23 AM PDT I was just settling in to write an article on the increase in Chian's gold reserves when at 9:30am the gold price got smashed. Initial news reports seemed to put the blame on the Chinese market, with statements such as "bullion fell to as low as $1,088.05 an ounce … shortly after the Shanghai Gold Exchange opened trading" and "According to ANZ, the sudden collapse in gold prices earlier in Asia was due to 5 tonnes of bullion being dumped on the Chinese market" but it started on Comex. [read more] |
| Dissection of a gold price smash Posted: 20 Jul 2015 02:16 AM PDT Perth Mint |
| Did A Major Gold And Silver Breakdown Just Begin? Posted: 20 Jul 2015 01:40 AM PDT forbes |
| Gold Slumps As Risk Eases and US Rate Hike in Focus Posted: 19 Jul 2015 11:45 PM PDT insidefutures |
| Gold and Silver: Trouble Ahead Posted: 19 Jul 2015 11:40 PM PDT agmetalminer |
| Gold Drops Below Critical Support Levels Posted: 19 Jul 2015 11:13 PM PDT Gold has fallen below critical support levels, first at the 2015 low of $1,141 last week and now below the 2014 low of $1,130. In fact, gold flash crashed in early Asian trading below $1,100 briefly, the lowest level since 2010! A confluence of factors are sending gold lower including: – Greece reaching a deal with […] |
| Gold an Inch from a Very Key Support Posted: 19 Jul 2015 11:10 PM PDT goldseek |
| $2.7bn gold dump in China causes price ‘flash crash’ Posted: 19 Jul 2015 09:14 PM PDT The manipulation of the gold price continues. Why did somebody in China dump a notional $2.7 billion in gold last night when China opened for trade causing precious metal prices to crash? Gold prices dived 4.2 per cent or over $50 in a ‘flash crash’ to $1,086 before quickly rebounding back above the $1,100 marker, reported zero hedge.com (click here). Market bottom? This action looks to be somebody in China trying to force the gold price to its bottom. It’s not a normal trade, that’s for sure. Maybe this is to ensure gold now coming onto the market after the Chinese stock market crash is sold for a low price. Or it could be a derivatives trade that has gone wrong. But as zero hedge.com noted: ‘Whatever the reason, gold just had its biggest flash crash in nearly two years, as a targeted stop hunt launched by the dumping of $2.7 billion notional in product, accelerates the capitulation of the momentum buyers (and in this case sellers) pushing gold to a level not seen almost since 2009.’ How close is the gold price to its bottom now? Surely this just has to be it. This sort of flash crash tests market lows to their limit. Will retail buyers in China see this as a sell signal or an opportunity to pick up a bargain? |
| US dollar up, gold lowest since 2010 Posted: 19 Jul 2015 08:54 PM PDT The US dollar is rising in anticipation of a Fed interest rate hike and this is depressing gold to its lowest level since 2010. Whether this is a sustainable and stable scenario is another thing entirely. Dollar strength helped tip Wall Street into a crash in 1987. In the meantime Bloomberg's David Ingles reports on the latest stories moving the FX market on ‘First Up… |
| Posted: 19 Jul 2015 08:05 PM PDT The Silver GoldSpot |
| HERE WE GO: Gold Plunges Through $1080 to New Bear Market Lows Posted: 19 Jul 2015 06:37 PM PDT It appears the waterfall capitulation even we warned could occur on Sunday’s Asian open has begun, as gold has just plunged over $50 in nano seconds to $1080… Gold breaks through previous bear market low at $1130, and instantly plunged $50 to $1080: Silver plunging to $14.50: We suspect that by morning, there won’t […] The post HERE WE GO: Gold Plunges Through $1080 to New Bear Market Lows appeared first on Silver Doctors. |
| Posted: 19 Jul 2015 05:21 PM PDT
When I first learned that French President Francois Hollande had proposed that the members of the eurozone should create their own version of a federal government, I was quite stunned. But I shouldn’t have been surprised. For the global elite, the answer to just about any problem is more centralization. The following comes from a Bloomberg article that was posted on Sunday…
So precisely what would “more Europe” look like? Hollande envisions a central government that has both a parliament and a federal budget…
In addition, this eurozone government would have its own prime minister. In essence, he would be the European version of the president of the United States. The following comes from the Independent…
Of course Hollande is not the only one calling for more centralization. Last month, European Central Bank President Mario Draghi, European Commission President Jean-Claude Juncker and Eurogroup President Jeroen Dijsselbloem proposed a plan that would create a shared European treasury…
I don’t anticipate that we will see any of these things implemented immediately. However, what is important is the fact that this is where the European elite plan to take Europe. And when the next great European financial crisis erupts, these proposals will be offered as the “solutions” necessary to end the crisis. During times of emergency, the elite are often able to push things through that they would never be able to accomplish under normal circumstances. At the moment, it would be extremely difficult to get everyone to agree to a full-blown “United States of Europe”. But if things were to start spinning wildly out of control and people were suddenly desperately clamoring for solutions, the environment would be quite different. What that time arrives, the key will be to get Germany and France to agree on what a “United States of Europe” should look like. If Germany and France can agree, it is inevitable that most of the other members of the eurozone would ultimately fall in line. One potential hurdle for the creation of this new government would be the euro. The current treaty agreements concerning the euro are quite complicated and quite restrictive. If Germany and France decided that they did want to create a “United States of Europe”, they might have to create an entirely new currency in order to accomplish that. I know that sounds kind of crazy right now, but at one time the concept of “the euro” sounded really crazy too. For the moment, the debt crisis in Europe just continues to get even worse. Greece, Portugal, Ireland, Italy, Spain, Belgium and France are all drowning in debt. Whether or not we see a “Grexit” in the short-term, I fully expect that European bond yields will continue to rise and European stocks will take quite a tumble in the months ahead. I believe that we are right on the verge of a very significant European financial crisis. In particular, keep on eye on the big banks. Just like in the United States, the “too big to fail” banks in Europe are massively overleveraged and are tremendously exposed to derivatives. In fact, the bank with the most exposure to derivatives on the entire planet is Deutsche Bank. It has been reported that Deutsche Bank has a whopping 75 trillion dollars worth of exposure to derivatives, their co-CEOs were recently forced to resign, and there are all sorts of rumblings about troubles going on behind the scenes at the bank. What do you think would happen if the biggest and most important bank in Germany suddenly became the next Lehman Brothers? That is something to think about. Meanwhile, the euro continues to fall. For a long time, I have been repeating my prediction that the euro would fall to parity with the U.S. dollar. One year ago, the EUR/USD was sitting at 1.35. Today, it has come all the way down to 1.08. There will be more ups and downs, but we are almost there. A time of great chaos is coming to Europe, and the eurozone will be deeply shaken. But whether or not there is a break up of the eurozone in the short-term, in the long-term the goal of the European elite is even more integration and even more centralization. So even though there will be significant bumps in the road, I fully expect to see the “United States of Europe” that French President Francois Hollande has proposed. Do you agree? What do you think the future holds for Europe? Please feel free to join the discussion by posting a comment below… The post The President Of France Wants Eurozone Members To Transfer Their Sovereignty To A United States Of Europe appeared first on The Economic Collapse. |
| Posted: 19 Jul 2015 03:20 PM PDT investing |
| Guest Post: "Analyzing PBOC Official Gold Reserves Increment", by Koos Jansen of Bullion Star Posted: 19 Jul 2015 02:36 PM PDT You'd be hard-pressed to find anyone who knows more about the intricacies of the Chinese gold market than our pal, Koos Jansen. The updated reserve figures released by China back on Friday have stirred all sorts of speculation on the honesty and validity of the Chinese numbers. We've been waiting for Koos' interpretation and he released it on Sunday.   |
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