Precious metals news

"Those who see no Lehman-like episode on the horizon did not see the last one." - George Will

"Gold is a safeguard for crisis, as it stands for trust - at least when bought in physical form. Warren Buffett doesn’t consider gold as an investment, but compared to the S&P 500 since 1970, gold outperformed the stock market, as the gold price increased about 7.5% every year."

Just when the federal deficit is exploding to over $1T annually, Trump is seeking action that would further widen the gulf between what we're further indebting ourselves to pay for and what we can actually afford. And knowing such a bill would never pass Congress, he's trying to do it without a vote.

Moreso with every unraveling day, nowhere to run, nowhere to hide in emerging market currency. "Despite four rate hikes by the Bank of Indonesia since May, the Indonesian rupiah slid to a two-decade low, falling to 14,750 per dollar, a level last hit during the Asian Financial Crisis of 1998, and just shy of an all-time low."

Updated analysis shows we could be very close to a gold break-out rally near the end of September, 2018. Here are the details...

Dave Kranzler breaks down what will be a likely scenario for the gold shorts to get slaughtered. Here are the details...

Egon says this latest move up in the stock market and recent dollar strength are the last hurrahs. Here's what Egon says is coming next...

The US stock markets had another big day Wednesday with a number of the indexes, including the Nasdaq and the S&P 500, in record territory. So, what's with the recent move up in US stock markets?
Donald Trump and a lot of Republicans have been taking credit for it, saying their economic policies are causing a boom. But in his latest podcast, Peter Schiff thinks the real impetus for this leg up is the dovish tone of recent Federal Reserve comments.  

Investment and commodities guru Jim Rogers says we're heading toward the worst bear market in his lifetime.
Rogers recently spoke a the MoneyShow in San Francisco. He said the first thing we need to understand is that in the wake of the 2008 financial crisis, the Federal Reserve "came to the rescue" and drove interest rates to the lowest level in recorded history.
Never in the history of the world have interest rates been this low. In some countries, they were actually negative. This has never, ever happened in the history of the world. Some Federal Reserve governors, when they think nobody's listening, they acknowledge that this is an experiment. They don't know how it's going to wind up."
But Rogers said he knows how it's going to wind up.

The 10-year yield sank to 2.855%, and the DX ticked down to 94.70. Gold was $1,200 bid at 4PM with a loss of $6.

There is no evidence of any kind that the Petro has been purchased by anyone or successfully exchanged by the Venezuelan government for anything of value. The oilfield that was to be used to back it remains untapped. Yet Maduro claims to have raised $3.3B.

Defraud your customer base, be eligible for bonuses and promotions. Change that 6 to a 7 on your Applebee's receipt prior to submitting your expense report? You're fired.

Brazil joins the ever-expanding cast of emerging-market countries with worsening currency crises. "Intervention" and "liquidity providing" are nothing more than euphemisms for buying fiat currency at an artificially high price that the free market is rightfully unwilling to pay.

Brien predicts this brutal period for the precious metals may soon be over, especially with this bullish alignment that has come into view. Here's more...

Any argument for leaving rates unchanged (or cutting them) is a non-starter in the face of a clear inflationary trend. Fans of super-easy money and ZIRP will not be pleased to see the Fed's official 2% inflation rate was just hit, as Core PCE notches a six-year high.

The inevitable end of current US economic policy summarized in a sentence: "In hyperinflations, the 'printing presses' go into overdrive because governments spend, and all the sources for funding their largess either never existed or wither away, except one: central banks."

"About 12% of Americans (43 million) are considered poor, and yet they are employed. They earn an individual income below $12,140 per year. If you add housing and medical expenses to the calculation, it raises the percentage of Americans living in poverty to 14%: 45 million people."

The hits just keep coming in Argentina, where President Mauricio Macri has been reduced to begging the IMF to ramp up its flow of bailout funds. "The world's highest interest rate levels as well as backing from the IMF have both failed to significantly improve market sentiment."

The world's largest retail silver collection is housed in a subterranean minimall/shopping bunker on Chancery Street, guarded by what is reputed to be the fourth-most-impenetrable vault door in the world (behind Fort Knox, NY Fed, and Bank of England gold vault).

Emerging-market currency fallout continues in India, Argentina, Turkey, South Africa, and elsewhere. The flight to safety trade always begins at the edges, the markets most at risk, and works its way in from there; as the next-safer option unravels, precious metals are the ultimate, inviolable store-of-value market backstop.