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SD Friday Wrap: Not even touching on technical analysis this week, this one is all rant and no filler...
What Does the Student Loan Mess Tell Us About the Economy? SchiffGold Friday Gold Wrap 07.13.18July 13, 2018
The SchiffGold Friday Gold Wrap podcast combines a succinct summary of the week’s precious metals news coupled with thoughtful analysis. You can subscribe to the podcast on iTunes.
It's Friday the 13th.Are you scared?Well, I ain't skeert!
South African gold output saw its biggest drop in over a year in May, falling 16.2% year-on-year. This is another sign that the one-time world leader in gold production could be running out of the yellow metal.May's decline came on the heels of a 5.8% drop in production in April. It was the eighth consecutive month of declining output for South African gold mines, according to Pretoria-based Statistics South Africa.
“I’ll tell you what I think is probably going on. When we look at the..."
Still Stuck, After All These Years: Banks Bedeviled by 2000-Era Subprime LoansJul 13, 2018 - 11:17:34 PDT
A decade after issuing insane mortgages (such as the "Pick-a-Pay", where borrowers could choose their own monthly payment, including one so low it didn't even keep up with interest charges) so bad credit risks could buy height-of-the-bubble-priced houses, those very same loans continue to cripple banks' new-loan departments.
Far From 'Junk Debt Party' USA, Massive Penalties for Chinese Corporate DefaultsJul 13, 2018 - 10:56:03 PDT
82% of new Chinese corporate bonds feature a "cross-default" clause: If the company defaults on timely repayment of that bond, ALL of their previously issued debt immediately goes into default. The message? "Don't you dare write new debt you're not sure you can service."
Jim Willie: Reset Has Begun (Now The US Must Do These Two Things AND Get 10,000 Tons Of Gold)July 13, 2018
Jim just sent us a must read update on the reset, the failing fiat currencies, and what is required for the US to get back on the gold standard...
Who says gold has no industrial uses? Star-shaped gold nanoparticles, coated with a semiconductor, can produce hydrogen from water over four times more efficiently than other methods—opening the door to improved storage of solar energy.
Ramping Inflation + Declining Real Wages = Lower American Quality of LifeJul 13, 2018 - 07:34:40 PDT
It's as simple as that. Declining real wages inevitably reduce consumption (in a consumption-based economy) and will further diminish consumers’ ability to repay credit card bills, auto loans, and mortgage debt (in a credit-dependent economy).
Marshall Swing: This Morning's Moves In Gold & Silver And Some BIG NEWS About July 27th, 2018July 13, 2018
Marshall just sent us an update on gold & silver, but he also just revealed something very peculiar about events leading up to and on July 27th, 2018...
Jul 13, 2018 - 07:17:43 PDT
Jerome Powell is smart enough to know that there are no solutions to the brewing debt catastrophe his Fed predecessors created. He also knows a large part of his job is pretending, to both Congress and the American public, that he has it all under control.
Suddenly, Supply: Housing Market Now Showing Signs of Full Bubble InflationJul 13, 2018 - 07:08:02 PDT
The supply of homes for sale in the second quarter of 2018, the all-important spring market, rose at three times the rate of the same period last year. This is how it begins. Just like in 2009. First, 'For Sale' signs don't come down in a week. They languish for months. Before you know it, half your neighborhood is comprised of distressed sellers.
No fan of the current tariff campaign (while also clearly knowing where his bread is buttered), 'independent' Fed Chair Powell speaks out against trade war policies in the milquetoast and non-committal way of a man who knows he will end up doing what he is told.
US Commerce Secretary Wilbur Ross to Sell All Stock Holdings, Buy TreasuriesJul 13, 2018 - 05:24:57 PDT
Why is one of the men in charge of US economic stewardship selling 100% of his hundreds of millions of dollars in stock holdings and moving into treasuries?
Soaring energy costs mean that this sweltering summer, you might be able to cool your home. Or that this bitter winter, you may not be able to afford to heat your home. Where are these unavoidable, borne-by-almost-all-Americans costs factored into the government's most widely cited metric of inflation, the CPI? Nowhere.
Forget whether or not the Fed will keeping raising or go back to cutting rates. Morgan Stanley sees systemic issues so pressing that they expect another desperation round of money printing and currency dilution before the current QT campaign has so much as made a dent in the bloated Fed balance sheet.
As de-dollarization continues, and even tiny nations have big plans for upping their gold reserves. Here's the details...
Everything was indicating that gold was a buy here, yet the rally failed. Could there just be too much ‘hopefulness' in gold? Here's more...
Total household debt climbed to a record $13 trillion in 2017. One factor driving overall American indebtedness higher is the ever-increasing burden of student loans.A recent article in the New York Times focused on three charts that illustrate the ever-increasing toll of the student loan bubble - and it's not just impacting students. Parents are increasingly feeling the squeeze.