Precious metals are apparently waking up. And here is where you can find the best deals.
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After hitting their highest level in 15 months in August, analysts expect Indian gold imports to continue climbing in the fourth quarter.The flow of gold into India hit a 15-month high when it more than doubled to 100 tons in August. Demand started climbing in July when imports jumped for the first time in seven months.
Sept. 30 marked the end of the federal government’s 2018 budget year. According to data released by the US Treasury Department, the federal debt grew by nearly $1.3 trillion in fiscal 2018 – $1,271,158,167,126.72 to be exact. It was the sixth-largest fiscal-year debt increase in the history of the United States.So much for that Republican Party fiscal responsibility.The total federal debt currently stands at $21.5 trillion.
The President. The Senate. The House. Their silence on the issue tells you all you need to know.
Forget any semblance of fiscal responsibility. Washington has completely given up on bare-bones fiscal sanity.
Jack's charts are flashing sell signals in gold & silver which could last for years, but Jack is bullish on both metals in the short-term. Here's why...
"There’s a paradox at the heart of global finance. The U.S. share of the world economy has drifted lower for decades. Yet the U.S. dollar remains, as the saying goes, almighty. Is it time for regime change?"
Mortgage fraud is making a comeback. "A casual internet search will result in any number of online services that will not only generate fake pay stubs, but will also answer phone calls and 'confirm' income verbally, all for a fee."
Dave Kranzler says gold's $16 spike yesterday didn't have anything to do with China, or India. Here's the trigger for the massive bid yesterday...
"In the fourth quarter of 2018, gold imports could rise 9 percent from a year ago to 250 tonnes, said Bachhraj Bamalwa, a bullion dealer based in Kolkata who was formerly the Chairman of the All India Gems and Jewellery Trade Federation."
"Silver sales soared 151 percent from August to 1,305,600 ounces, their highest since March 2016. Sales of gold coins and minted bars surged 61 percent from August to 62,552 ounces."
Hussman: Current Conditions "Often Occur Within a Few Days of Pre-Collapse Peaks in the Market"Oct 3, 2018 - 06:12:11 PDT
"Given current valuations, even a return to average run-of-the-mill historical norms would result in a loss of about two-thirds of U.S. stock market capitalization. Meanwhile, any significant recession will likely be accompanied by a wave of corporate bankruptcies in a system where median corporate credit rating is already just one notch above junk."
In one of the ultra-rare examples of an instance where it made a whole lot of sense to simply put US currency in a safe and forget about it as an investment strategy, the 1792 "Archangel" penny prototype is expected to fetch a cool $1M.
Oct 3, 2018 - 05:45:30 PDT
In a farcical case of "treat the symptom, not the disease," James Bullard of the St. Louis Fed advocates not raising rates any further so as to avoid inverting the yield curve. As if avoiding an inversion is a magic anti-recession bullet. It's the cause-to-effect logical equivalent of running out of gas and blaming the little 'E' on your gas gauge.
It's one thing to owe $330B to the EU. It's entirely another to owe $2.42 trillion. And that, in a nutshell, is the difference between the Greek debt crisis and Italy's current mess. Italy is Greece...7 times over.
Oct 3, 2018 - 05:25:36 PDT
When dealing with imaginary money, fiat currency, nothing is real and everything is relative. While Italy is (rightfully) being raked over the coals for its refusal to deal with its own chronic overspending, the US is running a deficit vs. national GDP of almost twice as much.
Oct 3, 2018 - 05:05:14 PDT
Not 8%, not 800,000 people...8 people. That's how many control as much wealth as the entire bottom half of the world's population. These 8 have an average net worth of $53.25 billion dollars each. Versus an average net worth of $14.01 for their bottom-50% counterparts.
China Bellies Up to the International Debt Trough for 2nd Time This DecadeOct 3, 2018 - 04:55:29 PDT
China is seeking its 2nd offering in 10 years. While the total amount of the debt sale is as of yet unknown, China's last bonds were 10x oversubscribed. Given risk-numb markets, demand should again well outstrip supply.
While Turkey's debt and currency crisis has faded from the front financial pages for now, on the ground, things are only getting worse as the familiar pattern of a fiat currency coming apart the seams begins with this sharp move toward hyperinflation.
And where it might stop, nobody knows. "The rupee's plunge into record-low territory this year is unlikely to slow — even if India's central bank hikes its rate this week, according to experts carefully watching the Reserve Bank of India."
"...in 2018 the scam of the paper derivative and fractional reserve pricing scheme has reached such ridiculously massive proportions that..."
Just How Intimately Are The Major Gold Miners Connected To Governments And Central Banks?October 2, 2018
Chris Powell brings to our attention something we might want to keep in mind as it pertains to the relationship between governments and the gold miners...