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Gold & Silver Prices in
Articles related to Ratio
Steve Saville - Speculative Investor
Addressing Keith Weiner’s objections to “Gold’s True Fundamentals”
A 23rd June post at the TSI Blog described the model (the Gold True Fundamentals Model – GTFM) that I developed to indicate the extent to which the fundamental backdrop is bullish for gold. The GTFM is an attempt to determine a single number that incorporates the most important fundamental drivers of the gold price, where I define “fundamental driver” as something that happens in the economy or the financial markets that causes an increasing desire/urgency to own gold in some form. Keith Weiner
Tuesday, June 27, 2017
Mish - Global Economic Analysis
Bond Market Paralysis: What Happens When Central Banks Own the Market? Mish’s Sure-Fire Proposal
Here’s the question of the day: What happens when central banks own the market? The answer comes from Asia where Japan’s Government Bond Market Grinds to a Halt and the yield on 10-year Japanese bonds did not move for seven days. Yields on newly issued 10-year Japanese government bonds remained flat for seven straight sessions through Friday as the Bank of Japan continued its efforts to keep long-term interest rates around zero. The 10-year JGB yield again closed at 0.055%, where it has been s
Monday, June 26, 2017
Nathan Lewis - New World Economics
Fumbling and Bumbling
As part of our continuing investigations into the Interwar Period, we’ve been looking at a funny episode in 1937. June 18, 2017: The “Gold Sterilization” of 1937 October 2, 2017: The Interwar Period, 1914-1944 I think it has been productive to spend all this time on the 1930s. I feel like we are airing out a lot of past confusion and trauma. Of course, many people may not agree with my interpretations and conclusions. But, along the way, they might get the data and materials to come to their own
Sunday, June 25, 2017
Mish - Global Economic Analysis
GE’s Pension Time Bomb: Shortfall $31 Billion and Rising
GE has the largest pension shortfall in the S&P 500. It’s a $31 Billion Balance Sheet Hole That Keeps Growing. At $31 billion, GE’s pension shortfall is the biggest among S&P 500 companies and 50 percent greater than any other corporation in the U.S. It’s a deficit that has swelled in recent years as Immelt spent more than $45 billion on share buybacks to win over Wall Street and pacify activists like Nelson Peltz. In the last two years, GE spent little more than $2 billion on total pension con
Sunday, June 25, 2017
Steve Saville - Speculative Investor
Gold’s True Fundamentals
To paraphrase Jim Grant, gold’s perceived value in US$ terms is the reciprocal of confidence in the Fed and/or the US economy. Consequently, what I refer to as gold’s true fundamentals are measures of confidence in the Fed and/or the US economy. I’ve been covering these fundamental drivers of the gold price in TSI commentaries for almost 17 years. It doesn’t seem that long, but time flies when you’re having fun. No
Saturday, June 24, 2017
Gary Tanashian - Biwii
Hedgers Net Short the Euro, US Market Rotates; 2 Horsemen Set to Ride?
By Gary TanashianIn line with our bullish forward view on USD, behold the very bearish state of the Commercial Hedger positions in the Euro (courtesy of Sentimentrader). Recent historical data speaks for itself. It appears a decline in the Euro is imminent (which, in market terms means ‘relax, it could be a while yet’ ).The next question is, when Uncle Buck rides will he ride alone or will he have the other rider at his side? The 2 Horsemen would be the bringers of pain in the form of liquidity
Friday, June 23, 2017
Mac Slavo - ShtfPlan
Canary In The Coal Mine: Unfunded Liabilities Have Turned Illinois Into A “Banana Republic” On The Brink Of Bankruptcy
Illinois is the perfect example of what happens when your state is run by fiscally irresponsible dunces for decades. The state is buried debt, and hasn’t passed a budget in over 700 days. 100% of their monthly revenue is being consumed by court ordered payments, and the Illinois Department of Transportation has revealed that they may not be able to pay contractors (who are working on over 700 infrastructure projects) after July 1st if the state doesn’t pass a budget. To top it all off, the state
Friday, June 23, 2017
Andy Hoffman - Miles Franklin
Valuation Anomalies Suggest Historic Precious Metal Lows
Today, we’re going to start with an interview with billionaire Frank Giustra – perhaps, Canada’s most famous mining stock promoter.  Who, in this interview, comes as close to accusing gold of being manipulated as mainstream investors are “allowed.” Do you think the gold market is manipulated? No, I don’t think it is manipulated.  Manipulation is a strong word. But I do believe it is managed, by the policy makers who need to keep confidence in a system when it goes sideways.  Any major spike in t
Wednesday, June 21, 2017
Thorsten Polleit -
The Super Bubble Is in Trouble
You do not need to be a financial market wizard to see that especially bond markets have reached bubble territory: bond prices have become artificially inflated by central banks' unprecedented monetary policies. For instance, the price-earnings-ratio for the US 10-year Treasury yield stands around 44, while the equivalent for the euro zone trades at 85. In other words, the investor has to wait 44 years (and 85 years, respectively) to recover the bonds' purchasing price through coupon payments.Me
Wednesday, June 21, 2017
Mark O'Byrne -
Inflation is no longer in stealth mode
IHS Markit index shows UK households pessimistic about finances for 2017-208 UK household finances remain under intense pressure from rising living costs 58 percent of respondents expected higher interest rates in 12 months time Inflation in the United Kingdom currently at near four-year high Prices up prices by 2.9pc year-on-year, biggest annual increase since June 2013 In May consumer spending in the UK fell for the first time in almost four years By a continuing process of inflation, governm
Tuesday, June 20, 2017
Andy Hoffman - Miles Franklin
The Most PiMBEEB Transaction Of All-Time
Monday mornings can be daunting, in processing the massive amount of PiMBEEB – or Precious Metal bullish, everything-else-bearish – news since my last publication, 72 hours earlier.  This, amidst a world where government-commandeered “markets” signal nothing but the madness they have created, and the carnage that must surely ensue – as if generational economic weakness; the highest-ever debt load; the largest-ever industrial oversupply; the lowest-ever cumulative purchasing power; and the highes
Monday, June 19, 2017
Przemyslaw Radomski CFA - SunshineProfits
Crude Oil Verifies Breakdown – Or Is It Something More?
On Friday, the black gold gained 1.15% and climbed to the previously-broken lower borer of the trend channel. Is this a verification of the earlier breakdown or something more? Crude Oil’s Technical Picture Let’s take a closer look at the charts and find out (charts courtesy of From today’s point of view, we see that crude oil moved little higher on Friday, which resulted in a climb to the previously-broken lower border of the red declining trend channel. What does
Monday, June 19, 2017
Gary Tanashian - Biwii
Bonds and Related Indicators (and more macro discussion)
By Gary TanashianThe target for TLT continues to be around 129. Treasury bonds are in bull trends (remember back a few months ago to all the bond hatred in the media). How does an eventual decline in bonds square with what we just noted above regarding Q4 2008? [work done in the preceding Precious Metals segment] Treasury bonds were a wonderfully bullish asset during Armageddon ’08 and who’s to say that an upside blow off may not be coming sooner rather than later amid massively over bullish sen
Monday, June 19, 2017
Bob Hoye - Institutional Advisors
Checklist for a Top
Signs of The Times "Celine Dion Drops the Price on Her Jupiter Island Estate by $27 million" - L.A. Times, May 28. "Hard Times Hit Billionaire's Row with Luxury Condo Foreclosure" - New York Post, May 30. "Pending Home Sales Crash Most In 3 Years" - Zero Hedge, May 31. "Debt Pile-Up in US Car Market Sparks Subprime Fear" - Financial Times, May 30. "Per Capita Taxes Have More Than Doubled Since JFK" - CNS News, May 31. "Rents Are Deflating in the Hottest Cities" - Business Insider, June 4. Pe
Saturday, June 17, 2017
Mish - Global Economic Analysis
Are Banks Hoarding Cash? Debate Over “Free Money” Interest on Excess Reserves
In response to Free Money! Banks Paid $22 Billion to Not Lend? I received a comment from economist Professor George Selgin who said I do not know what I am talking about. Selgin made similar comments about Chris Whalen, Chairman of Whalen Global Advisors LLC,  in two supporting links. I also received a Tweet from economist Professor Steve Keen who said: “Mish Nails It“. Both viewpoints cannot be right. Let’s explore competing viewpoints on lending excess reserves, banks hoarding cash, and free m
Friday, June 16, 2017
Phoenix Capital - Gains Pains & Capital
There are only two other times in history when stocks were more expensive than today
We are having a hard time finding high-quality companies at attractive valuations. For us, this is not an academic frustration. We are constantly looking for new stocks by running stock screens, endlessly reading (blogs, research, magazines, newspapers), looking at holdings of investors we respect, talking to our large network of professional investors, attending conferences, scouring for ideas published on value-investor networks, and finally, looking with frustration at our large (and growing)
Friday, June 16, 2017
Mark O'Byrne -
Brexit and UK election impact UK housing
Growing evidence of slowdown in UK property market Slow-down in activity in UK housing market in run up to UK election Average UK house prices dropped in the three months to May Halifax report annual house price growth fallen to a four-year low of 3.3 percent. “Political instability breeds procrastination on the part of homebuyers and sellers” Sterling drop will increase divide in housing market, first time buyers continue to struggle House price growth has lost momentum, volumes continue to dro
Wednesday, June 14, 2017
Bullion Vault
Silver 'Undervalued' on Ratio to Gold as UK Eyes 'Soft Brexit', Traders See 95 Chance of Fed Rate Hike
GOLD and SILVER prices slipped again Tuesday in all major currencies, retreating to one- and 3-week lows respectively as world stock markets rallied despite fresh political wrangling and uncertainty around the UK's general election and looming Brexit negotiations. One-time Conservative leadership candidate Michael Gove – now returned to front-bench politics – claimed Prime Minister Theresa May is willing to "work with" the oppositio
Wednesday, June 14, 2017
Andy Hoffman - Miles Franklin
Platinum, The Forgotten Precious Metal-Revisited
My good friend Adam Meister – i.e, the “Bitcoin Meister” of (rapidly increasing) YouTube fame – sagely stated today, “you get rich slowly, and poor quickly” – which goes double for those utilizing traditional valuation metrics in historically manipulated markets.  Fortunately, no financial manipulation, throughout the course of history, has ended well; and now that the “custodians” of history’s largest, most destructive fiat Ponzi have reached their ‘trapped rats on a sinking ship’ moment, the “
Tuesday, June 13, 2017
Sprott Money
The Anatomy of Brown’s Gold Bottom - Keith Weiner
As most in the gold community know, the UK Chancellor of the Exchequer Gordon Brown announced on 7 May, 1999 that HM Treasury planned to sell gold. The dollar began to rise, from about 110mg gold to 120mg on 6 July, the day of the first sale. This translates into dollarish as: gold went down, from $282 to $258. It makes sense, as the UK was selling a lot of gold... or does it? We won’t get into the theories of his motivation. However, we note that if he wanted to—pardon the dollarish— push do
Monday, June 12, 2017