– Something Just Snapped At The Comex (Updated) (ZeroHedge, Sep 9, 2015):
As of Friday the comex gold “coverage” or amount of paper claims on every ounce of physical, was literally off the chart, soaring to a mindblowing 207 ounces of paper gold claims for every ounce of deliverable gold. This also means that the dilution ratio between physical gold and paper gold has hit a new all-time low of just 0.48%!
– “It’s A Tipping Point” Marc Faber Warns “There Are No Safe Assets Anymore” (ZeroHedge, Sept 2, 2015):
Markets have “reached some kind of a tipping point,” warns Marc Faber in this brief Bloomberg TV interview. Simply put, he explains, “because of modern central banking and repeated interventions with monetary policy, in other words, with QE, all around the world by central banks – there is no safe asset anymore.” The purchasing power of money is going down, and Faber “would rather focus on precious metals because they do not depend on the industrial demand as much as base metals or industrial commodities,” as it’s now “obvious that the Chinese economy is growing at nowhere near what the Ministry of Truth is publishing.”
Faber explains more… “I have to laugh when someone like you tries to lecture me what creates prosperity”
Some key exceprts… Continue reading »
– Austrian Economics Is Now Equivalent To Terrorism Thanks To Latest Islamic State “Gold Standard” Propaganda Clip (ZeroHedge, Aug 30, 2015):
What better way to mute demands for a return to sound money and the gold standard, than by making them equivalent to jihadist terrorism? Why, there are none, which is why some were thoroughly amused to see that yesterday the Islamic State’s so called media center, the al Hayat, released a video whose production qualities are nothing short of Hollywood (or San Fernando valley at worst), in which the latest and greatest “jihadist terrorist group” that was a byproduct of US intervention in the Middle East, announces it is preparing to take on the Fed itself with, drumroll, “the return of the gold dinar.”
As Bloomberg reminds us, the Islamic State’s Shura Council last year tasked its Beit al Mal, or treasury, with minting the coins, which come in several denominations made of gold, silver and copper.
– Nazis’ Gold Train Is Said to Have Been Found in Poland (RINF, Aug 27, 2015):
On 27 August, Polish Radio announced that two people have presented evidence that they have discovered Nazi Germany’s legendary “Gold Train,” containing art and that’s especially “laden with precious metals,” and that the pair are demanding a 10% cut of its value, for finding this nearly 200-yard-long train, in a hidden mountain tunnel in the Polish town of Walzbrych, formerly the German town of Waldenburg. Nazis had constructed the tunnel in 1943, to hide valuables from Soviet forces, in the event that Germany might lose the war. Continue reading »
– China chooses her weapons (Gold Money Aug 20, 2015):
China’s recent mini-devaluations had less to do with her mounting economic challenges, and more to do with a statement from the IMF on 4 August, that it was proposing to defer the decision to include the yuan in the SDR until next October
The IMF’s excuse was to avoid changes at the calendar year-end and to allow users of the SDR time to “adjust to a potential changed basket composition”. It was a poor explanation that was hardly credible, given that SDR users have already had five years to prepare; but the decision confirming the delay was finally released by the IMF in a statement on Wednesday 19th. Continue reading »
– Gold Surges Above Key Technical Level, Silver Regains Last Week’s Losses (ZeroHedge, Aug 20, 2015):
Gold has filled the gap from the mid-July China crash and broken above its 50-day moving average for the first time since June. Silver is surging once again this morning reoundtripping to last week’s pre-flush highs…as The US Dollar limps lower.
Gold breaks above the 50DMA for first time since June…
All the charts you need here:
– Dow-Stockalypse-Wow: Bonds & Bullion Soar As Equities Crash (ZeroHedge, Aug 20, 2015)
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– Dow Dumps 1200 Points From Record Highs To 7-Month Lows – Unchanged Since The End Of QE3 (ZeroHedge, Aug 20, 2015)
– US Dollar Flash Crash Sparks Precious Metals Surge (ZeroHedge, Aug 19, 2015):
After yesterday’s slamming efforts, precious metals are well bid this morning following the USD flash crash this morning. Silver has regained yesterday’s losses and gold is hitting one month highs…
– Billionaire Stanley Drucknemiller Loads Up On Gold, Makes It His Largest Position For First Time Ever (ZeroHedge, Aug 16, 2015):
Following Friday’s filing by the Duquesne Family Office, we learned that as of the end of Q2, the largest position for Stanley Druckenmiller was none other than gold, following the purchase of 2.9 million shares of the GLD ETF shares. In other words, as of this moment, gold amount to over 20% of Druckenmiller’s total holdings.
– Gold Jumps After China Reveals It Bought Another 19 Tons In July (ZeroHedge Aug 14, 2015):
Putting what China has just done in very simple context: China announces an increase in its gold holdings of over 58% (June and July)… and then it devalues its currency by nearly 5% in one week.
Even the most brainwashed Keynesians should be able to figure out what is going on by now.
– Gold & Silver Surge As Dollar Dumps (ZeroHedge, Aug 12, 2015):
Just 3 weeks after the world could not purge itself fast enough of ‘pet rocks’, Gold is pushing to one-month highs this morning (at $1120) and Silver just broke a key technical level at its 50-day moving average as USD weakness and global turmoil have seen Precious metals gain for the last few days…
July 17: China increases official gold holdings by 57% August 11: China devalues Yuan
— zerohedge (@zerohedge) August 11, 2015
“The future is unknown and we are not dealing with markets that are free markets anymore…now we have government interventions everywhere. [But] in the last say twelve months, I have observed an increasing number of academics who are questioning monetary policies. That’s why I think they will take the gold away and go back to some gold standard by revaluing the gold say from now $1000/oz to say $10,000 dollars. An individual should definitely own some physical gold. The bigger question is where should he store it? because… the failure of monetary policies will not be admitted by the professors that are at central banks, they will then go and blame someone else for it and then an easy target would be to blame it on people that own physical gold because – they can argue – well these are the ones that do take money out of circulation and then the velocity of money goes down – we have to take it away from them… That has happened in 1933 in the US.”
Dr Marc Faber was born in Zurich, Switzerland. He studied Economics at the University of Zurich and, at the age of 24, obtained a PhD in Economics magna cum laude. Dr Faber publishes a widely read monthly investment newsletter “The Gloom Boom & Doom Report” report which highlights unusual investment opportunities, and is the author of several books including “ TOMORROW’S GOLD – Asia’s Age of Discovery”.
– “They’ll Blame Physical Gold Holders For The Failure Of Monetary Policies” Marc Faber Explains Everything (Marcopolis, Aug 7, 2015):
Interview with Marc Faber, Editor and Publisher of “The Gloom, Boom & Doom Report’”
In this exclusive interview with Marcopolis.net Marc Faber covers it all: from commodities and China to the outlook on inflation, the Euro and gold. According to him the global economy is not healing. To the contrary, we might find ourselves back into recession within six months or a year. In that case he expects more money printing by central banks, which eventually could lead to high inflation rates and renewed strength in commodity prices.
On the bright side, he sees great economic potential in Vietnam. Also, the Iraqi stock market has good potential now that a deal with Iran has been reached. While mining stocks are extremely depressed we might see defaults before any meaningful recovery.
* * *
In your 2002 book “Tomorrow’s gold” you identified two major investment themes: emerging markets along with commodities. That was a great call. As for commodities, they had a great run up until 2008. Then they crashed sharply along with everything else just to recover strongly into 2011. Since then they have acted weakly, and recently commodities even reached a 13-years low. Is this the end of the commodities-super-cycle, as some have claimed, or is it more like a correction? Continue reading »
Rick devotes the full one-hour to delivering a blockbuster interview with financial analyst Jim Willie, publisher of the Hat Trick Letter. Jim discusses the rapid drying of the Treasury bond liquidity market, the introduction of a new U.S. currency very soon, the BRICS challenge to the London-New York financial power base, criminal activity in financial markets, the global re-set of the financial system, a gold-backed global reserve currency, and many other hot-button topics.
– China’s Secret Gold Hoarding Strategy (Money metals, Aug 6, 2015):
China’s recent stock market gyrations have some analysts now calling China the biggest bubble in history. But those who write off China because of market volatility are missing a more important long-term trend of Chinese geopolitical and monetary ascendancy. That trend shows no signs of abating.
China’s leaders have a clever strategy, and Western financial powers may someday wake up in shock when they realize what has occurred.
(No, they won’t. This is all part of a plan executed by the Illuminati. There are NO such surprises in their world! This is all planned, incl. the coming greatest financial collapse in world history. A lot of people will wake up in shock one day and TPTB will have intentionally caused that shock. Our leaders are all puppets. All of them!)
It’s true that the Chinese government has helped fuel artificial demand for property and equities. China skeptics who argue that these artificially inflated markets will crash to much lower levels could well prove to be correct. Some China doubters also argue that a downturn in China’s economy will put downward pressure on commodity prices. Continue reading »
– JPMorgan Helps Comex Avoid Gold Depletion, Boosts Registered Gold By 78% Overnight (ZeroHedge, Aug 6, 2015):
We were less than surprised to see that just 2 days after our report, the Comex once again succeeded in sweeping default fears under the rug by boosting its eligible gold by a whopping 78% overnight, from 362K ounces to 643K, thereby pushing deliverable gold from its all time lows. However, this was not achieved with an infusion of actual new gold into the Comex, but thanks to JPM reclassifying 276K ounces of gold from the Eligible into the Registered category, even as actual eligible gold continues being withdrawn from the Comex.
– Why the Government Hates Gold (Bonner & Partners, Aug 4, 2015):
Mr. Market Gets Even
Yes, prices are being discovered again… by free declaration of buyers and sellers.
Owners of Greek stocks are discovering that their equity stakes aren’t as valuable as they believed.
But for every seller there is a buyer… Continue reading »
– Some clear thinking about the price of gold. (Sovereign Man, August 4, 2015):
On April 2, 2001, the price of gold closed the market trading session at $255.30.
And that was the lowest price that gold has seen ever since.
In US dollar terms, gold closed the 2001 calendar year higher than it did in 2000. Then it did the same thing again in 2002. And again in 2003. Continue reading »
– Comex On The Edge? There Are Now A Record 124 Ounces Of Paper Gold For Every Ounce Of Physical (ZeroHedge, Aug 3, 2015):
Over the weekend, we got what was merely the latest confirmation that when it comes to sliding gold prices, consumer of physical gold just can’t get enough. As the Times of India reported over the weekend, India’s gold imports shot up by about 61 per cent to 155 tonnes in the first two months of the current fiscal “due to weak prices globally and the easing of restrictions by the Reserve Bank. In April-May of the last fiscal, gold imports had aggregated about 96 tonnes, an official said.”
This follows confirmations previously that with the price of gold sliding, physical demand has been through the roof, case in point: “US Mint Sells Most Physical Gold In Two Years On Same Day Gold Price Hits Five Year Low“, “Gold Bullion Demand Surges – Perth Mint and U.S. Mint Cannot Meet Demand“, “Gold Tumbles Despite UK Mint Seeing Europeans Rush To Buy Bullion” and so on. Indicatively, as of Friday, the US Mint had sold 170,000 ounces of gold bullion in July: the fifth highest on record, and we expect today’s month-end update to push that number even higher.
But while the dislocation between demand for physical and the price of paper gold has been extensively discussed here over the years, most recently in “Gold And The Silver Stand-Off: Is The Selling Of Paper Gold And Silver Finally Ending?”, something unexpected happened at the CME on Friday afternoon which may be the most important observation yet. Continue reading »
– “Western Central Banks Have Set Us Up; You’ll Hear The Printing Presses From Mars” (ZeroHedge, July 31, 2015):
As Marc Faber said at SocGen’s January conference, if he could short central banks directly he would do so, but gold is the next best thing; and despite it being sucked into the general commodity malaise, Albert Edwards says “Gold is a must-have holding in this world.”
H/t reader squodgy:
“Seems mainstream media is being treated for what it is, lying, misleading false flag propagandists, and we’re not alone in dismissing them.”
And we’ve been here before.
What they are doing, by selling billions of dollars of paper gold in a second, is only done to keep the price of gold and silver artificially low.
This is the new form of ‘gold confiscation’ by TPTB, trying to keep the people away from buying one of the save havens before the collapse happens and making it cheap for themselves.
Meanwhile China and Russia are buying.
Perth Mint Gold Bar (1 kilo)
– Demand for Gold Bullion Surges – Perth Mint, and U.S. Mint Cannot Meet Demand (GoldCore, July 31, 2015):
– Perth Mint sees surge in demand and cannot keep up with demand
– “Our biggest restriction is the amount of unrefined gold we’re getting in from producers”
– Very high demand for Perth Mint coins, bars coming from Asia, U.S. and Europe
– U.S. Mint sees highest sales of gold coins in over 2 years
– U.S. Mint restrictions on silver coins due to very high demand
– Gold sentiment has moved from despondency to depression (see chart)
– Current negative sentiment despite strong demand is good contrarian indicator
Depressed prices have led to the usual market response, a surge in physical demand for coins and bars globally.
This is confirmed in conversations we have had with our refiner and mint partners in recent days. There are growing shortages of supply of small coins and bars. This is resulting in delays in receiving bullion and indeed to rising premiums.
Asian gold demand picked up this week keeping premiums robust and slightly higher in the world’s top gold buying regions.
Continue reading »
From the article:
“Condescending as the entire article is to gold owners, he even goes so far to quote the Hebrew Bible!”
– 4 Mainstream Media Articles Mocking Gold That Should Make You Think (Liberty Blitzkrieg, July 29, 2015):
For those of you who have been reading my stuff since all the way back to my Wall Street years at Sanford Bernstein, thanks for staying along for the ride. I appreciate your support immensely considering that I essentially no longer write about financial markets at all, and for many of you, that remains your profession and primary area of interest. Continue reading »
– Gold’s Two Stories: Paper Markets Collapse… While The Retail Public Buys At A Record Pace (ZeroHedge, July 26, 2015):
We’ve seen some significant swings in precious metals over the last several years and if we are to believe the paper spot prices and recent value of mining shares, one would think that gold and silver are on their last leg. Last weekend precious metals took a massive hit to the downside, sending shock waves throughout the industry. But was the move really representative of what’s happening in precious metals markets around the world? Or, is there an effort by large financial institutions to keep prices suppressed? In an open letter to the Commodity Futures Trading Commission First Mining Finance CEO Keith Neumeyer argues that real producers and consumers don’t appear to be represented by the purported billion dollar moves on paper trading exchanges.
With China recently revealing that they have added some 600 tons of gold to their stockpiles and the U.S. mint having suspended sales of Silver Eagles due to extremely high demand in early July, how is it possible that prices are crashing? Continue reading »
– US Mint Sells Most Physical Gold In Two Years On Same Day Gold Price Hits Five Year Low (ZeroHedge, July 24, 2015):
Just like in the case of silver three weeks ago, today’s gold liquidation was not due to selling of physical metal. In fact, quite the contrary: according to the US mint, so far in July the mint has sold a whopping 143,000 ounces of physical gold – the most in over two years, or since April of 2013 – even as the price of gold briefly slid to the lowest level in 5 years.
– This Has Never Happened To Gold Before (ZeroHedge, July 24, 2015):
For the first time since records began, hedge funds are net short gold futures, according to CFTC data…
This is what happened the last time gold saw a ‘low’ net long position…
Is this why Gold is spiking this afternoon? Continue reading »
– Gold “Capitulation” As Down 8% In July – Smart Money Buying Dip (ZeroHedge, July 24, 2015)
– Gold “Flash-Crashes” Again Amid Continued Commodity Liquidation As China Manufacturing Slumps To 15-Month Lows (ZeroHedge, July 23, 2015):
As Bridgewater talks back its now widely discussed bearish position on fallout from China’s equity market collapse, Chinese stocks rose at the open (before fading after ugly manufacturing data). However, liquidations continue across the commodity complex in copper, gold, and silver. Though not on the scale to Sunday night’s collapse, the China open brought another ‘flash-crash’ in precious metals. All signs point to CCFD unwinds, and forced liquidations as under the surface something smells rotten in China, which has just been confirmed by the lowest Manufacturing PMI print in 15 months.
Gold flash crashed…
As we noted previously, while the actual selling reason was irrelevant, the target was clear: to breach the $1080 gold price which also happens to be the multi-decade channel support level. Continue reading »
– The Hunt For The “Mystery” Gold “Bear Raid” Leader Begins (ZeroHedge, July 23, 2015):
– What Happened The Last Time The Mainstream Media Unleashed The Anti-Gold Artillery (ZeroHedge, July 20, 2015):
With the mainstream media onslaught against precious metals climaxing this weekend as WSJ’s Jason Zweig proclaimed gold “like a pet rock,” describing owning gold as “an act of faith,”we thought it worthwhile looking back at the last time ‘everyone’ was slamming gold and entirely enthused by the omnipotence of central bankers… May 4th, 1999 – “Who Needs Gold When We Have Greenspan?”
Over 16 years ago, The New York Times’ Floyd Norris unleashed the last big gold slamming piece topping a period of precious metal bashing… Continue reading »
– The Case Of China’s Missing Gold (ZeroHedge, July 20, 2015):
Chinese Gold reserves jump 604 tons from 1,054 tons last reported in 2009 to 1,658 tons. Many gold observers ask: “Is that it”? Since 2009 China has mined over 2,000 tons of gold and imported over 3,300 tons of gold through Hong Kong*. Where did it all go?