Precious metals news

The inevitable consequences of recklessly ramping government spending while you cut the government's primary means to pay for all that spending. In the end, you can't defy the laws of math forever.

“In previous periods, weakness created opportunities but as we survey the outlook for 2019, we are concerned that we don’t see those opportunities,' Jabre wrote in a letter. 'Both the political and economic outlooks remain confused and without clear direction.”

"The company is not only paying (token) severance packages to its more than 1,200 employees but is also giving each 10 tires, which have become hugely valuable in the shortage-wracked socialist paradise."

"The European Central Bank (ECB) will stop expanding quantitative easing (QE) from the end of December — when bond purchases will fall from 15 billion euros a month to zero."

"Your book recommends expanding the Fed’s purview, from banks to all of finance, or that there should be a regulatory supercommittee so they coordinate. Failing that, what else can we do?"

Remember back when Janet Yellen was heading up the Federal Reserve and she claimed there won't be another financial crisis "in our lifetime?" You don't have to think back too far. It was just about 18 months ago. Tuesday, June 27, 2017, to be precise. But now that Yellen has vacated the Eccles building and taken up residence at the Brookings Institute, she's changed her tune. In fact, she's singing an entirely different song.
During a talk at the City University New York, this week, Yellen said she fears there will be another financial crisis.
Assuming she doesn't plan on dying any time soon, she apparently means within her lifetime. 

Gold & silver have performed as forecast for the last five years. Can that be the case again as 2018 comes to a close? Here's Craig to break it down...

There has been a tug of war in the oil price over the past two weeks.  Due to a very rare setup in the market, the oil price has traded in a very narrow range as traders fight it out to see who will win control... the BULLS or the BEARS.  My bet is on...

Later in the afternoon, equities trimmed gains (S&P finished up 14 to 2,651), while the US 10-year bond yield hovered around 2.91%. The DX edged down to 97, and gold was $1,245 bid at 4PM with a gain of $2.

The miners are undergoing a major shift, while still cutting costs, and while stock prices continue to suffer. Here's TraderStef with a technical break-down...

$300 billion to build infrastructure vi, 40-year bonds with a mandatory 10-year holding period, paying an interest rate 2 full points higher than the 30-year treasury bill. And oh yeah, only pension funds are eligible to buy them. Rebuild America Bonds aim to fix two ailing American sectors with one loan.

"The protesters rightly perceive that they are politically invisible: the ruling class, regardless of its ideological flavor, doesn't believe it needs the support of the politically invisible to rule as it sees fit."

"...If that happens, it would occur just as...gold could surge towards the key $1400 area and the US stock market would likely crash"

In a tale as old as time, a governing body seeks to bolt a sick and dying business to a slightly healthier one. Postpone the inevitable, at all costs. But what usually happens when you combine a giant company in a seeming death spiral with one on shaky ground is seldom good.

"Whenever you go into debt in order to enjoy a higher standard of living than you currently deserve, there are short-term benefits but long-term pain. For decades, America has been stealing from the future in order to make the present more pleasant, but now we have painted ourselves into a corner."

"Last time Italy found itself near bankruptcy, it was saved by the ECB’s decision to launch into a decade of money-printing. The ECB is now set to stop and reverse the measures that facilitated this favorable environment that supported the entire European economy after the last recession. This might prove catastrophic for Italy."

"Socialist President Nicolas Maduro late last month increased the monthly minimum wage by 150 percent to 4,500 bolivars, fewer than $10 at the black market exchange rate. Citizens had complained that they could not afford basic items despite a previous 60-fold minimum wage increase in August."

"For example, 27 percent of people in Florence, South Carolina, who bought their car with a so-called subprime score — defined as a VantageScore between 300 and 600— are delinquent."

What's going on in precious metals markets? Is a recession looming? If so, what does that mean for gold and silver?
In this episode of It's Your Dime, Mike Maharrey talks to precious metals and investment expert Chris Blasi about these questions and much more.

"The vast majority of economists always proclaim the economy to be in excellent health just before it swoons. Despite these failures, indeed despite repeating almost precisely those failures, economists have continued to pore over the same macroeconomic fundamentals for clues to the future."