Precious metals news

Not too long ago, I got a call from some guy that claimed he was from the IRS. You've probably gotten one of these calls yourself. You pick up the phone and a guy with a thick Indian accent tells you that you are being investigated for tax fraud. Sometimes they try to scare you by telling you that they're going to put tax liens on your house and they’re going to seize your bank accounts. The guy may even claim the sheriff is going to show up on your doorstep and throw you in the pokey.
It's obviously BS. I mean, I know the government is broke, but I don't think it's quite reached the point of turning over IRS enforcement to an Indian call center. But I guess people must fall for this because I get these calls pretty frequently.  I just hang up on these clowns, but sometimes people mess with them - like this kid who totally scammed the scammer by barely uttering a word. 

The bulls are running down Wall Street, but are bears lurking just around the corner? The mainstream doesn't think so, but Peter Schiff does.
The Dow Jones climbed nearly 400 points Thursday after the Chinese announced a willingness to resume trade talks with the United States. No agenda was set, but the mere prospect of progress injected a shot of optimism in the market. Walmart also helped drive the surge, rising 10% after it beat earnings expectations.
In his most recent podcast, Peter asked the obvious question: why did the slimmest hope that we could see some resolution in the trade war give the stock market such a big bounce? It's not like the market tanked because of the trade spat. In fact, everybody expects America to win. It's the Chinese market that has been killed because of the trade war. It didn't rally at all based on the prospect of talks 

Gold charged higher, taking out its prior high to reach $1184.50, but was capped by resistance at $1185 - the up trendline from the 10/19/08 $682 low. Gold was $1184 bid at 4PM with a gain of $9.

"Physical gold demand in India regained momentum this week as jewelers stocked up after prices dipped to their lowest in over seven months, with lower prices attracting fresh buying and driving premiums higher in other major Asian hubs as well."

Harley Schlanger says the financial system in on the brink, and only a new monetary agreement can prevent chaos. Here's what is needed...

Eric says that Asian gold demand is very robust right now, but if this happens, Eric says the effect on market would be astounding. Here are the details...

"Cash extraction at the peak of a long housing bubble, via multiple mortgages on the same property: Does that ring a bell?"

"Twice in the past the price of silver has risen in a short period to $50: in 1980 during the Hunt brothers manipulation and again three decades later in April 2011, when the price rose to nearly $50. Prior to the price run up in 2011, I wrote that a move to $50 was possible. Something that has happened twice before can certainly occur again."

"Rolls-Royce says it incorporated visual elements from the original Ghost in the new four-door model. Most obvious is the car's silver paint scheme, with a hand-painted coachline that takes eight hours to apply and contains pure silver particles."

Martin says gold hasn't always been money, and the fundamentals are changing where only the aging generation sees gold as money. Here's more...

"Buying conditions for large household durable goods slipped to the lowest level in almost 4 years, vehicle-buying views were the least favorable since 2013, and home-buying conditions were seen less favorably than any time in about 10 years. Current conditions gauge fell to 107.8 from 114.4 in July; 6.6-point drop is biggest since Aug. 2011."

"The disappointment that follows the current optimism would likely send...Gold down to new lower lows."

The gold standard holds one enormous advantage over any proposed 'fedcoin' or potential central-government-issued crypto. It's simply impossible for anyone to create more gold, and changing the rules/total issuance/dilution when it comes to crypto will always be possible (in what would inevitably be called) "an emergency".

Public companies have long been forced to focus largely on super-short-term results, largely due to the fact that they have to announce those results to stock-price-vigilant shareholders every 90 days or so. A move to lengthen the mandatory reporting period would allow companies to start to focus more on longer-term goals.

For those of you with a quarter-million-dollar budget for home precious metals storage, Buben & Zorweg have built quite the lockbox. If you can live without a built-in humidor and stereo (and want something this safe can't provide -- the peace of mind that your wealth is safe and secure far away from you, your loved ones, and would-be thieves), GoldSilver professional global storage still starts at $4 per month.

How are all these derivatives connected? Nobody knows. What would happen if a single bad derivatives bet triggered another, then another, then another, and this entire tangled ball of "if, then" big-bank casino-prop-bet risk came undone at a speed too fast for any human being to react to? Nobody knows.

When your national currency borders on worthless and you're firmly in the death-spiral phase of terminal inflation, no amount of sovereign sleight of hand can change that. This is the inevitable fate of all fiat currency, without exception, but that doesn't mean politicians won't try every trick in the book to convince you otherwise.

Stock market investors tend to follow a relatively predictable order of "flight to safety" operations when seeking refuge from a crashing stock market: first bonds, then cash, then gold. Once the bond bubble pops and the USD is finally exposed for the ink-on-paper worthless IOU that it is, tremendous capital flows will seek the true, indestructible real value of gold.

Recent signs point towards President Trump abolishing the Fed, resetting the debt, and making the dollar honest money again. Here are the details...

David McAlvany breaks down the crisis in Turkey, which may culminate with the largest single debt default in history. Here are the details...