| |
 | John Butler - Goldmoney |
| Palladium to underperform the PM complex |
| In recent weeks palladium prices have soared to levels only rarely seen. This is all the more impressive in that precious metals prices more generally have moved sideways, including palladium’s big sister platinum. There are fundamental explanations offered but we do not believe these justify sustained high prices. More probably, non-physical speculative traders have chased upward momentum of late, leaving palladium exposed to highly asymmetric downside in the event these traders choose to exit.Sunday, June 25, 2017 |
|
 | Ronan Manly - Bullion Star |
| Are the World’s Billionaire Investors Actually Buying Gold? |
| Infographic website Visual Capitalist recently published an eye-catching infographic on behalf of Sprott Physical Bullion Trusts which featured 4 well-known billionaire investors and their supposed investments in gold. The infographic is titled “Why the World’s Billionaire Investors Buy Precious Metals” and can be seen here.
The 4 investors profiled in the infographic are:
Jacob Rothschild (Lord), chairman of London-based investment trust RIT Capital Partners Plc
David Einhorn, president of ManFriday, 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 stateFriday, June 23, 2017 |
|
 | Mish - Global Economic Analysis |
| Citizens Will Soon Turn their Rage Towards Central Bankers |
| Via Email, I received an interesting article from Albert Edwards at Societe Generale. Edwards claims citizens will soon turn their rage towards Central Bankers.
In an age of “radical uncertainty” how long will it be before angry citizens tire of blaming an impotent political system for their ills and turn on the main culprits for their poverty – unelected and virtually unaccountable central bankers? I expect central bank independence will be (and should be) the next casualty of the current poliFriday, June 23, 2017 |
|
 | Egon von Greyerz - Matterhorn AM |
 HUBRIS KILLS WHILST GOLD PROTECTS  |
| Hubris is a deadly sin. It is an arrogance and conceit of the highest degree that eventually leads to failure. As we reach the final stages of the current economic cycle, hubris is prevalent everywhere. Central bankers and bankers believe that they can continue to create wealth by printing and borrowing money. Since it has worked so well for 100 years in this latest cycle, why can’t it continue?
The laws of nature can’t be set aside
Throughout history, governments have attempted to set aside thThursday, June 22, 2017 |
|
| Sprott Money |
| Anti-Gold Propaganda Flares Up - Dave Kranzler |
| Predictably, after the gold price has been pushed down in the paper
market by the western Central Banks – primarily the Federal Reserve –
negative propaganda to outright fake news proliferates.
The latest smear-job comes from London-based Capital Economics by way of Kitco.com.
Some “analyst” – Simona Gambarini – with the job title, “commodity
economist,” reports that “gold’s luck has run out” with the 25 basis
point nudge in rates by the Fed. She further explains that her
predicted two Thursday, June 22, 2017 |
|
 | Alasdair Macleod - Finance and Eco. |
| Left wing, ... |
| One of the saddest things about Britain’s recent general election was the level of ignorance displayed by all parties on the broad subject of political economics. I use the term to include both political philosophy and pure economic theory.Labour, the Liberal Democrats and the Scottish Nationalists seem to think free markets are right-wing. The Conservatives appear to have lost all compass, most government ministers believing free markets without government regulation are chaotic, with unscrupulThursday, June 22, 2017 |
|
 | Theodore Butler - Butler Research |
| A Rigged Game |
| 76 years ago, “Joltin’ Joe” DiMaggio was in the middle of the hitting streak of streaks that would come to 56 consecutive games and which has remained a major league baseball record to this day. That season (1941), the Yankee Clipper would bat .408 during the epic streak or more than 4 hits for every 10 at bats. Ted Williams, of the Boston Red Sox, had the highest batting average in 1941, hitting .406 for the entire season. What would you say if I told you that a batter had hit 1.000 for an entiThursday, June 22, 2017 |
|
| Bullion Vault |
| Gold Bullion 'Set to Recover' as Stocks Fall 3rd Day on Global Crude Oil Glut |
| GOLD BULLION halved a 1% rally from yesterday's new 5-week lows against the Dollar on Thursday, dipping back below $1250 per ounce as world stock markets fell for a third day, pulled down by oil and energy shares.
Crude oil traded near 12-month lows around $42 per barrel of US benchmark WTI.
Major government bond prices rose, pushing 10-year US Treasury yields down towards their lowest since DonThursday, June 22, 2017 |
|
 | Phoenix Capital - Gains Pains & Capital |
| Your Future Wealth Depends on what You Decide to Keep and Invest in Now |
| Millienials look for instant gratification
Spend half of their income on leisure
Instant gratification doesn’t work if need to save for the future
Savings rates falling, few have retirement funds
Important to understand marginal difference between spending and pleasure
Future wealth depends on what you decide to keep and invest in now
This week the festival of all festivals begins, Glastonbury 2017. Ed Sheeran, Foo Fighters and Barry Gibb will each be singing to the 250,000 revellers who are cuThursday, June 22, 2017 |
|
| Phoenix Capital - Gains Pains & Capital |
| We had just experienced exactly the type of free and honest fight club conversation that ZeroHedge enables |
| “At the time, my life just seemed too complete, and maybe we have to break everything to make something better out of ourselves.”
-Chuck Palahniuk, Fight Club
I am still trying to interpret and integrate all that I experienced and learned about disintermediation, about myself, and about y'all at last week's First ZeroHedge Symposium and Live Fight Club in Marfa, Texas. I hope that writing this after-action report will help me to better assimilate it.
Last Wednesday, I picked up the aquaponics Thursday, June 22, 2017 |
|
| Phoenix Capital - Gains Pains & Capital |
| Are Central Banks Getting Ready to Crash the System Again? |
| While investors pile into Tech Stocks based on endless promotion from the financial media, the US economy is rolling over.
Last week the NY Fed downgraded its economic forecast for 2Q17 to just 1.9%. Even worse, it is now forecasting 2017 total growth to be a measly 1.5%.
Yes, 1.5%.
There is a clear trend to this chart… and it’s NOT up.
Source: NY Fed
Wait, it gets worse.
The Citi Surprise Index has collapsed to levels not seen since 2011.
Source: Yardeni Research
Why does this level matter?
TWednesday, June 21, 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 tWednesday, June 21, 2017 |
|
 | Przemyslaw Radomski CFA - SunshineProfits |
| May Retail Sales, CPI, Other Data and Gold |
| Last week, a few important U.S. economic reports were released. What do they imply for the gold market?
The recent days were eventful. The Fed hiked interest rates, the U.S. Treasury unveiled its deregulation plan, and several important pieces of economic news were published. First of all, retail sales fell 0.3 percent in May following a 0.4 percent rise in April. The number was below expectations. Actually, it marked the worst decline since January 2016. However, the drop was mainly caused by aWednesday, June 21, 2017 |
|
| Bullion Vault |
| Gold Price Slips vs. Falling Dollar as Oil Bounces, Bank of England Split Boosts 'Brexit-Hit' Pound |
| GOLD PRICES held near 5-week lows against a falling US Dollar on Wednesday, trading at $1243 per ounce as commodities rallied but world stock markets extended Tuesday's retreat in New York.
As Brent crude oil rallied $1 per barrel from yesterday's 7-month lows near $45, that pulled the EuroStoxx 50 index of major European shares more than 1% lower.
The British Pound meantime rallied aftWednesday, June 21, 2017 |
|
 | Mark O'Byrne - gold.ie |
| Your Future Wealth Depends on what You Decide to Keep and Invest in Now |
| Millienials look for instant gratification
Spend half of their income on leisure
Instant gratification doesn’t work if need to save for the future
Savings rates falling, few have retirement funds
Important to understand marginal difference between spending and pleasure
Future wealth depends on what you decide to keep and invest in now
This week the festival of all festivals begins, Glastonbury 2017. Ed Sheeran, Foo Fighters and Barry Gibb will each be singing to the 250,000 revellers who are cuWednesday, June 21, 2017 |
|
 | Steve Saville - Speculative Investor |
| The Central-Bank Moment |
| Hyman Minsky was an economist who popularised the idea that “stability leads to instability”. According to Minsky and his followers, credit expands rapidly during the good times to the point where a lot of borrowing is being done by financially fragile/vulnerable entities, thus sowing the seeds of a financial crisis. That’s why the start of a financial crisis is now often referred to as a “Minsky moment”. Unfortunately, Minsky’s analysis was far too superficial.
Minsky described a process duringWednesday, June 21, 2017 |
|
 | Chris Powell - GATA |
| Join GATA at Mines and Money's London conference in November |
| Planning is under way for the 15th annual Mines and Money conference in London, headquarters of both the real gold business and the paper gold business. The conference will be held from Monday to Thursday, November 27-30, at the Business Design Centre in London's Islington neighborhood.
Dozens of mining companies will be exhibiting, scores of leading investors will be attending, and dozens of mining and financial experts will speak, including mining entrepreneur Robert Friedland; Commodity DiscWednesday, June 21, 2017 |
|
| Graham Mehl |
| Forget the Stock Market, Pay Attention to This |
| You can take this to the bank: Americans are messed up about money.
A slew of new surveys and data have come out revealing that we don’t save enough, we spend money we don’t have, we have our financial priorities backwards — and more. Here are five new stats that prove Americans are backwards about money.
About 1 in 4 literally have no emergency savings. A survey released Tuesday by Bankrate.com found that 24% don’t have even a single dollar saved for an emergency. And that’s just one of many sWednesday, June 21, 2017 |
|
| Phoenix Capital - Gains Pains & Capital |
| Is the Fed About to Burst Its Third Bubble? |
| Stocks continue to trade at nosebleed valuations.
According
to Fact Set, the S&P 500 is currently trading at a P/E of 21. This
is well above its 10-year average of 16.7. And bear in mind, eight of
those ten years (from 2010-2017) were when stocks were already
overvalued.
Source: Fact Set.
So the market is extremely overvalued today, even compared to a period in which it has been overvalued.
This begs the question… just what justifies these valuation?
It
isn’t the US economy. GDP growth has beWednesday, June 21, 2017 |
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