Precious metals news

As the Philly Fed's headline sentiment number (25.9 vs. expectations of 21.5, wheeeeeee!) tries to sell you a gorgeous used car that's just been washed and waxed, it would really appreciate it if you didn't notice it has no engine, gas tank, or steering wheel.

Nominal rates are meaningless. All rates must be made 'real' by adding the effects of current inflation. Subtracting CPI year-over-year inflation from the target rate gives us the 'real' story: The Fed is practicing negative interest rate policy.

Right. Again, this is because 95M of the 120M unemployed have already been unemployed for over six months. It's easy to run out of people making 'initial' jobless claims when you already have a giant population who has been long-term jobless and show up nowhere in governmental unemployment stats.

Today's "This can't be true if we actually have 4% unemployment" tidbit: Just as many Americans are on food stamps as during The Great Recession. Because we don't have 4% unemployment, because 95M of the 120M able-bodied American unemployed have given up looking for work. And therefore, insanely, don't count as 'unemployed.'

The world continues to hurtle at breakneck speed toward the global financial reset abyss, as China's central bank will directly fund banks with ultra-cheap liquidity and one simple goal: "Increase bank lending and bond purchases."

New legislation would make it easier for those with college debt to discharge it via bankruptcy. Borrowing $110,000 from the government to go to art school makes a whole lot more sense when you can just walk away from the debt-indentured life when you're done.

Michael Ballanger is okay with the risk of sounding like a broken clock, because he names a bunch of reasons to be bullish on gold & silver...

Jim Rickards says with Trump and other ‘crazy men' at the helm, get ready for geo-political uncertainty and market volatility. Here's why...

Believe it or not, 225+ of the largest and supposedly most successful companies are so operationally sick, so incapable of supporting themselves in any way, that they’d be bankrupt in a heartbeat without the zero interest rate policy (‘ZIRP’) loans that amount to a handout from the Fed.

The following article was written by Peter Schmidt. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold. 
When Nixon closed the gold window in August 1971, the US found itself in exactly the same economic circumstances as Britain had in September 1931 when she reneged on her gold standard obligations.  If Ben Bernanke’s theory on the Great Depression is correct – namely, that ‘countries that left gold earlier also recovered earlier’ -  the United States should have received an enormous economic shot in the arm after finally freeing itself from its formerly golden fetters.
So what has all the resulting money creation and credit expansion from the Fed’s PhD economists with total freedom of action wrought since 1971?  A cursory review of the automobile industry, which is not an unreasonable proxy for the entire US economy, reveals that the economy did not receive a shot in the arm by freeing central bankers from their “golden f...

The price of gold has languished in recent weeks. After falling below $1,300 in May, the yellow metal has hit 2018 lows this month. Dollar strength along with the anticipation of further Federal Reserve rate hikes have bolstered the dollar and weighed on gold.
Peter Schiff has been saying this dollar strength is merely an upward correction in a bear market. Peter's not alone in this view. Some mainstream analysts have even acknowledged the dollar surge is likely temporary.
So what about the gold market? Should we just give up on it? Well, as we've pointed out, fundamentals point to an overall healthy market for the yellow metal. And we're not alone in our thinking. An article in the Economic Times of India points out three reasons gold will likely come out of its slumber. Interestingly, we've touched on all three of the factors this article mentions. 

If you wanted to write a Bizarro World modern-day parable along the lines of King Midas, you'd be well served to look to the conmen and charlatans at Wells Fargo, where every line of business they touch turns to fraud. After a secret internal shift to robo-advisory, “The firm made it very clear that we could not discuss the fact that we were no longer managing the portfolios,” one former advisor said.

Charles says that gold has been weak lately, but gold is in a bull market, and after the summer, it will resume the climb. Here's the details...

"The US plans to run a $1T deficit in 2019. Under these circumstances, a strong USD is a major problem. When you borrow in USD (issue US denominated debt) you are effectively shorting the USD. With every tick higher in the USD, it is becoming more and more difficult for the US to fund its debt expenses."

Hope springs eternal for Millennials, who despite having an average of $22,000+ in student debt and no savings, plan to retire early.

As the gold price continues to get short-term crushed, the most recent Bank of America Merrill Lynch monthly survey of global fund managers finds more of them than ever before think the buy time for gold is now.

The Coming Super-Bubble in Gold & SilverThere are numerous catalysts both inside and outside the market for precious metals that could push the prices of gold and silver much, much higher. The greater the economic upheaval, the greater the potential for gold and silver to explode, and potential detonators include:

Marshall just sent us an update on gold & silver. He says another big smash is coming along with the next leg down. Here's the details...

Divers off the South Korean island of Ulleungdo found the fabled wreck of the Russian warship Dmitrii Donskoi, sunk in 1905. As part of an agreement between the search team and the Russian government, half of the gold will be returned to its original sovereign owner.

Once the glut of new sellers realize they're not all going to find the next greater sucker to buy at prices now higher than the 2008 bubble, the subsequent price flush and race for the exit will begin. The next MLS-listing-hoofbeat you hear could be the beginning of the stampede.