Precious metals news

Hmmm. It sure is looking like the powers that be are creating infinite money and deploying it against the metals in secret. Here's why...

The “civilian labor force” declined by 469,000 people in August from July. The number of “employed” dropped 423,000. The “not in labor force” increased by nearly 700,000. Between the decline in the number of people employed and the decline in those not counted as part of the labor force, the economy shed over 1 million jobs in a single month, from July to August.

Trump did not understand that "just running the presses," of course, creates debt. "You don't get to do it that way," responded former White House National Economic director Gary Cohn, who was "astounded at Trump's lack of basic understanding."

How out of control is US government spending vs. its ability to pay for it? The Congressional Budget Office said as recently as April of this year that the federal budget deficit would hit $1T in 2020. Now, just four months later, the CBO says the administration will hit that ignominious figure far sooner.

The demise of the dollar as the world's reserve currency has been decades in the making and is not going to happen overnight. But central banks around the world have been positioning themselves for just this event with 10+ years of gold purchases. When the US dollar's fiat reign comes to a close, those who have the gold will make the rules.

The August jobs report came out last Friday. Mike Maharrey offered a little bit of analysis during the Friday Gold Wrap podcast, saying he was skeptical that the actual employment situation is as great as the mainstream seems to think. Peter Schiff offered a more in-depth breakdown of the employment report in his latest podcast, saying it was "anything but strong."

Countries like Russia, China and Iran have been looking for ways to limit their dependence on the US dollar for years. More recently, we've even seen American allies looking to de-dollarize the world. Last month, German foreign minister Heiko Maas called for the creation of a new payments system independent of the United States.
It's gotten to the point people are beginning to discuss a "post-dollar" world.
RT's Max Keiser recently talked about the issue of the US weaponizing its currency with the head of research for GoldMoney.com, Alasdair Macleod.

The 10-year bond yield ticked higher to 2.983%, while the DX traded narrowly between 95.20-26. Gold was $1,196 bid at 4PM with a gain of $1.

Gold has a bullish set-up, but the dollar has been standing in gold's way. Now there's a big reason why the dollar may not stay in gold's way much longer...

Because history shows, time and time again, that just when retail investors are most certain the good times will never end, the good times are just about to end. Usually with a steep, sudden, hair-raising stock market crash.

The short course: Ignore the short-term noise and focus on the signal. When attempting to value the single greatest and most durable store of value mankind has ever known, the current market backdrop "leads, in our view, to an opportunity to add a risk-off hedge to portfolios at an attractive valuation."

We live in extraordinary silver times: Commercial silver hedgers just went net long for the first time in 25 years. Speculative shorts are at an all-time high. The Dow/Silver ratio is 65% higher than just prior to the 2008 stock market crash. Silver sentiment is at an all-time low. Nearly any metric you choose says "This snapshot represents an extreme outlier scenario that has always represented a dirt-cheap buying opportunity in the past."

In what could be called a voice of semi-sanity emerging from the typical behind-the-curtain "Wizard of Oz" Fed groupthink, Eric Rosengren suggests that raising rates much higher than currently expected, much longer than currently expected, might be the right course of action. Which would spell certain short-term economic in exchange for a return to historically "normal" interest rates.

As Argentinians lined up outside small stores, many vendors refused to sell items to them for any amount of paper currency. As the peso continued to unravel, it was impossible to keep track of exactly how high inflation had gone, and there was no guarantee they'd be able to obtain more merchandise. The very real immediate consequences of a population losing confidence in a fiat currency.

Join Mike Maloney as he explores how what used to be solid, practical advice — save 10% of your income a year to responsibly plan for a comfortable retirement — became an out-and-out impossibility.

For now, people in teetering nations are flocking to the US dollar, but that is all about to change as the fundamentals for gold are astronomical. Here's why...

US stocks drifted lower (S&P +5 to 2877), while the 10-year yield remained around 2.93%. The DX traded narrowly between 94.14 – 94.18, and gold was $1,195 bid at 4PM with a loss of $1.

3D printing is a rapidly evolving technology that could potentially change the world like the internet did. People are most familiar with 3-D printing due to the controversy surrounding 3D printed firearms. But the technology can be used to produce everything from tiny precision components to houses.
Now gold has a role to play in the evolution of 3D printing technology. Scientists at Vanderbilt University have developed a process using gold nanoparticles to reveal tiny defects in 3D printed parts. 

When the New York Times published an op-ed from a White House insider claiming there are people inside the Trump administration actively working to undermine the president, the markets shrugged it off. In fact, as Peter Schiff said in a recent interview on thestreet.com, the markets are shrugging pretty much everything off.
Everything is bullish as far as investors are concerned. They believe the US economy is in great shape. According to President Trump, it's in the best shape ever. This is the greatest boom in the history of the United States. And so that fantasy continues to dominate the narrative and markets are shrugging off all the bad news."
Despite the optimism, Peter said the economy is headed for the "greatest bust ever." And that's the perfect storm for gold.

It's the cornerstone of the rigging of all markets, and exposing it would overthrow the world financial system...