Precious metals news

Ken Griffin, Citadel's founder, foresees a period of global unrest and structural shifts leading to de-globalization and persistently high inflation, potentially lasting decades. He argues this environment will exacerbate the cost of the U.S. deficit, already inflated by unchecked government spending. Griffin criticizes this spending as reckless and unsustainable, noting that despite a strong job market, there's a pervasive unease among U.S. consumers. He cautions against the Federal Reserve's potential strategy of printing money to forestall default, stating it would have catastrophic economic results, sending the economy into severe decline.

Precious metals investors are still concerned about the rampant "Manipulation" of the Silver Market.  I decided to share where I believe the manipulation occurs in the silver market.  There is a great deal of fraud happening behind the scenes... but where??

Ronnie joins Mike to shed light on some new revelations that could signal a gold bull market on the horizon.

The ambitious goals of the green agenda to shift towards renewable energy, while challenging in terms of raw material acquisition, spotlight silver as a critical component. Every gigawatt of solar power necessitates substantial amounts of silver, estimated to be up to 21 metric tons. With silver production already failing to meet industrial and investment demands, the added pressure from renewable energy initiatives is poised to amplify silver demand by an additional three to fivefold. This presents a substantial growth opportunity for silver, underpinning a bullish outlook for its future pricing in the market.

With inflation appearing to peak and gold near record prices, some investors are hesitant to buy, waiting for a bigger price drop. Yet, as yields fall, a potential bullish reversal for gold and silver is on the horizon, especially as they hit key support levels. Silver, in particular, may have greater potential than gold, suggested by the stable gold-silver ratio, indicating silver might soon outperform gold.

AI advancements are predicted to significantly boost demand for precious metals, particularly silver, due to its essential role in electronics and the green energy sector. Although industrial gold demand has dipped, a resurgence driven by tech sector growth is expected next year. Silver, critical for its conductivity, faces supply challenges and could see a sharp increase in demand, further stressed by its use in solar energy production. Precious metals like platinum, palladium, and gold, integral to various AI chip components, are set for a demand surge in 2024 as AI technology proliferates.

Despite the seemingly inexplicable strength of the dollar amidst soaring U.S. debt-to-GDP ratios and relentless deficits, the reality is that the dollar's might is relative; its major competitors are floundering even more. Yet, the Eurodollar market's demand for short-term U.S. T-bills—requiring hefty dollar purchases—keeps the dollar afloat. However, don't be fooled by the dollar's robust facade. Gold, the true measure of currency value, is ascending. As gold prices climb, it's evident that gold is the prudent investor's choice. Under $2,000, gold is not just a bargain; it's the savvy hedge against a dollar whose apparent strength is a temporary phenomenon in a world veering towards fiscal recklessness.

The fiscal year 2024 is already signaling a debt disaster for the U.S., with last year's $1.7 trillion debt increase likely just the beginning. With deceptive accounting, the reality is probably worse, potentially a 100% rise from the previous year. As interest rates climb, America's massive $33 trillion national debt could spiral out of control, forcing the government into a perilous cycle of austerity, increased borrowing, and relentless inflation. Despite claims of a robust economy, plummeting tax revenues hint at a looming recession that could send deficits skyrocketing, trapping the country in an unsustainable financial vortex.

FCC Commissioner Brendan Carr has sharply rebuked President Biden's "digital equity" initiative as a dangerous overreach, labeling it an "unlawful power grab" that threatens to place the entire internet ecosystem under the heavy hand of the federal government. Carr contends that Biden's plan would bestow the administrative state with a level of control over internet services and infrastructure that is both unprecedented and unfounded in legal precedent. This shift to expansive government controls, according to Carr, is an alarming departure from historical regulatory restraint and could signify a severe constriction of technological freedom and innovation.

While America struggles to buy groceries, President Biden faces criticism for poorly managing a vast green fund. Appointee John Podesta, a political insider, is accused of channeling $369 billion from the Inflation Reduction Act to favored, failing green companies. "Green banks," designed to fund these ventures with taxpayer money, are especially contentious, with allegations of mismanagement and wasteful spending within the administration.

American credit card debt has alarmingly surged to $1.08 trillion, marking a disastrous yearly increase and the worst spike since 1999. Millennials are particularly hit hard, struggling with escalating delinquencies amidst mounting student loans. Nationwide, the cost-of-living crisis pushes more people into relentless debt cycles, with a significant number facing steep interest penalties, unable to chip away at the growing financial hole.

China expanded its gold reserves for a twelfth straight month in October, according to the latest data from the People’s Bank of China (PBoC). The country raised its gold reserves by around 23 tonnes to a total of 2,215 tonnes last month. China has added about 266 tonnes of gold in the last twelve months through October. In general, central bank demand over the third quarter has been strong, because of the geopolitical environment, and with this uncertainty set to linger, we are likely to see central banks continuing to add to their holdings in the coming months.

“China’s failure to publish foreign exchange intervention and broader lack of transparency around key features of its exchange rate mechanism make China an outlier,” the Treasury said in its report. The release comes just two days before Treasury Secretary Janet Yellen sits down with her Chinese counterpart, Vice Premier He Lifeng. Over two days of meetings, the duo are expected to help restore high-level economic dialogue that had largely lapsed during escalating bilateral tensions over issues ranging from trade to security.

Gold fell for a third straight session on Wednesday with market focus on remarks from Federal Reserve Chair Jerome Powell. A slew of Fed officials on Tuesday maintained a balanced tone on the central bank’s next decision, but noted they would focus on more economic data and impact of higher long-term bond yields. Powell will speak at 9:15 a.m. ET and at 2:00 p.m. ET on Thursday. “We forecast the Fed to cut rates faster than the market expects next year ... The lower government bond yields in the U.S. next year will give a boost to demand for gold,” said Gardener, commodities economist at Capital Economics.

U.S. banks, facing stringent regulations and the impact of rising interest rates, are offloading risk by selling complex debt instruments known as synthetic risk transfers to private funds. This strategy helps banks mitigate regulatory capital charges and is attractive to investors seeking high returns. However, this move indicates a deeper shift on Wall Street, with private credit firms increasingly influencing the finance sector and assuming roles traditionally held by banks. These practices, reminiscent of pre-2008 crisis mechanisms, raise concerns about the potential for systemic risk in the financial system.

Big banks are grappling with $650 billion in unrealized losses due to the Treasury market's downturn, mirroring the conditions that led to Silicon Valley Bank's collapse. These losses, if realized, could threaten financial stability, raising alarms over potential systemic risks. Bank of America is notably exposed, with a $130 billion shortfall. While the losses are paper-based for now, they loom over Wall Street, with bank stocks suffering and fears of another crisis simmering.

With the Q3 Earnings now in, All of the Silver Mining Companies we analyze, but One, suffered losses.  While this is not good news for the silver miners as they provide a "High-quality Asset" in a world drowning in massively inflated financial assets... I see this changing in the future...

Central banks have amassed 800 metric tons of gold in the first nine months of 2023 to counter inflation and lessen US dollar reliance, marking a 14% increase from last year. China leads the pack, adding 181 tons to its reserves, while its consumers also flock to gold amid economic uncertainty. This robust central bank demand, defying a stronger dollar and higher bond yields, which typically dampen gold's allure, has propped up its price. Gold's appeal remains resilient, potentially pushing its market value towards record highs.

Rising interest rates are rupturing the global bond market's extended period of falling yields, with the U.S. ten-year Treasury yield jumping from 0.5% to 4.8%. Central banks' attempts to control inflation, partly of their own making, have backfired, leading to an investor exodus from U.S. debt amid soaring national deficits. The world braces for the economic fallout, with recessions looming as the reality of a debt-fueled Ponzi scheme comes to light. With no solution in sight, the only expectation is a future of devalued currency and persistent inflation.

Iowa's Citizens Bank has collapsed, saddled with $15 million in concealed loan losses. Not FDIC-insured, the fallout is Iowa's to shoulder. This debacle is the year's sixth, pointing to a dire trend in banking stability. Amidst fleeting government fixes, the reality is stark: more failures loom, and for those hedging against systemic risk, gold increasingly appears as a solid refuge.