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Rob Kirby: The Day Is Coming When You Will Not Be Able To Buy 1 Ounce Of Gold For Fiat CurrencySeptember 7, 2018
Rob says that very, very dark days aren't just coming, they are already here. Here's an important update on the state of the global economy...
The August Jobs Report has just been released, and everything is awesome in the economy! Silver is reacting better than gold right now. Here's an update...
Italian Exit From EU Would Require Biggest Bank Bailout Ever (Including 2008 US Crisis)Sep 7, 2018 - 05:21:53 PDT
Italy has the EU over a barrel, and Italy knows it. In the doomed-from-the-start social experiment that is the eurozone, who ever thought that over the long term, perpetual profligate debt-addicts like Italy and Greece could share a currency and a balance sheet with debt-abhorring, savings-obsessed Germany?
US Government Debt Interest Cost Skyrockets 41% Year-Over-Year, at All-Time HighSep 7, 2018 - 05:14:32 PDT
Is anyone paying attention to deficits and debt in Washington anymore? Anyone? In just one year, interest expense rose from $28.7B to $40.5B, and with rising rates and a wildly overspent $1T+ annual budget deficit, this is only the beginning of huge increases to come. Money for nothing, indeed.
Danske Bank, Denmark's Largest, Implicated in $150B Russian Money Laundering SchemeSep 7, 2018 - 05:07:38 PDT
In yet another example of a bank attempting to profit off of criminal activity and bungling it so poorly you wonder how they ever thought they'd get away with it, Danske Bank attempted to launder $150B in Russian money by routing it through its Estonia branch...except $150B was over seven times the total deposits of the entire nation of Estonia.
Housing, after the subprime collapse. Tech stocks, after the 80% Nasdaq bloodletting that followed the dotcom bubble popping. Anywhere you find an asset that most investors view with fear, disgust, and hatred, you almost invariably find a deeply undervalued asset that will not only deliver outsized returns going forward, but enjoy its own bubble pricing down the road.
The COT Report suggests the price of gold is likely to soar, but is that what it is really suggesting? Here's some insight...
John Rubino: It's Painful Along The Way But Precious Metals Investors Will Be VindicatedSeptember 6, 2018
John says that being a gold & silver investor is painful right now, but this is also a very exciting time to be an investor. Here's why...
The 10-year yield ticked up to 2.88%, and the DX recovered to 95.05. Gold was $1,199 bid at 4PM with a gain of $2.
The prices of gold and silver are behaving very much like they did in 2008. You remember what was happening in 2008, right?After the dot.com bubble burst, the Federal Reserve swooped in and dropped interest rates to an artificially low level. In the mid-2000s, the economy boomed and the housing bubble inflated driven by the sudden influx of cheap credit. In 2007, it all began to unravel and the air started leaking out of the subprime mortgage bubble. Of course, everybody said, "Hey, nothing to worry about. Everything is great!"And they were spectacularly wrong.
Gold sales at Australia's Perth Mint rose to their highest level in nearly a year in August as investors took advantage of gold on sale.According to the mint, sales of gold coins and minted bars surged 30% to 38,904 ounces last month. It was the strongest month of gold sales since November 2017. Sales were nearly doubled from a year ago, according to the mint."Lower bullion prices continued to support interest in our minted products among investors," a company spokesman said.
Charles Hugh Smith: "The 'recovery'/Bull Market is in its 10th year, and yet central banks are still tiptoeing around as if the tiniest misstep will cause the whole shebang to shatter: what are they so afraid of? The cognitive dissonance/crazy-making is off the charts:"
Are You Having Fun Yet? Fed's Williams Says Current US Economy "As Good as It Gets"Sep 6, 2018 - 10:49:00 PDT
The non-recovery recovery, fueled by one-off tax cuts and QE, has resulted in soaring risk-asset prices and no wage growth. If that hasn't made your life a better place, tough. This is the absolute best of times. Or so says the NY Fed's John Williams, who thinks things can only get worse from here.
The BIS didn't have to do much work in the gold market in August thanks to the plunge in the price in gold. Here are the details...
In Other News, Water Wet, Fire Hot, Japanese Central Branker Urges More StimulusSep 6, 2018 - 10:32:38 PDT
Japanese risk-asset markets are freely trading markets in the same way that carousels are The Kentucky Derby. The former involve assets. The latter involve horses. And that's pretty much all either pair have in common.
Forbes: "Disaster Is Inevitable When America's Stock Market Bubble Bursts"Sep 6, 2018 - 09:02:48 PDT
"Today's unusual market strength is not evidence of a strong, organic economy, but of an extremely unhealthy, artificial bubble economy that will end in a crisis."
"The worst-case scenario is that the tariffs are implemented all at once and immediately, which would prompt the..."
America's worst excuse for a bank and closest proxy to a bumbling, can't-get-anything-right, white-collar-incompetence-personified organized crime outfit is doing what it always does. The DOJ has found "widespread document altering." In sum: "There was fraud everywhere, and then there was fraud to cover up the fraud."
Sep 6, 2018 - 08:03:48 PDT
60% interest rates! A $50B loan infusion from the IMF! All this smoke, all these mirrors. The problem is that the Argentinian Peso is a worthless fiat currency. And the market knows it. So bring on the dogs, bring on the ponies, bring on the show. Math doesn't care and equations don't become any less true when you try to distract them.
Emerging market currencies around the world are imploding, and now we have real-world, real-time lessons to be learned as they pertain to gold...