Mining company Rio Tinto is maintaining an eye on the potential for merger and acquisition opportunities as a result of the Covid-19 pandemic and plans to stay "patient but not complacent," its chief executive officer said. J-S Jacques told the Bank of America 2020 Global Metals, Mining and Steel Conference that metals market outlooks were currently clouded due to changing supply-demand pictures a...Read More
By Craig HemkeThe announcement last week that the Bank of Nova Scotia is exiting the precious metals business is just another curious development in the dark, secret world of international bullion banking.Over the past two months, much has been written about the current stresses in the Bullion Bank Fractional Reserve and Digital Derivative Pricing Scheme. Though the decision by Scotiabank to exi...Read More
Graceland Updates By Stewart Thomson 1. It's the soft demand season for gold (April-Sept), and that means upside and downside breakouts can become "wet noodle" affairs. 2. Bulls and bears who aren't prepared for this type of sideways price action may get frustrated. 3. Please click here now. Double-click to enlarge this short-term gold chart.4. My suggestion for invest...Read More
By Dave Kranzler"At the parabolic top of every financial bubble, thrilled investors lose their tether to reality, and as the price of the speculative instrument rallies ever higher, investors' expectations for additional price appreciation inflate ever more. Whether its Cisco Systems at a trillion-dollar market value, Qualcomm at $1000 a share, Oil at $200 a barrel, Bitcoin at a million dollar a...Read More
A Fresno, California waffle restaurant dared to open its doors for business this weekend to the delight of a long line of customers, who waited up to two hours for the "privilege" of willingly spending their money in a business happy to serve them breakfast on Mother's Day. This freedom of voluntary transaction is the core of what we used to call our free society. But in an America paralyzed by...Read More
Most domestic ferrous scrap prices in the Mexican steelmaking regions of Monterrey and Baj?-o increased week on week after reduced availability of material led some mills to accept higher offers in order to secure supply.Low scrap availability led one mill in Mexico's Bajio manufacturing hub to announce a price increase of around 100-200 pesos last week. Other scrap buyers avoided announcing...Read More
Commonwealth of Independent States (CIS) steel slab exporters turned to the Chinese market for sales in mid-May because customers in this market accepted higher prices than any in other destinations, Fastmarkets heard.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS was $335-340 per tonne on May 12, up from $325-335 per tonne fob a week earlier.Over 100,000 tonnes of...Read More
"There should be no doubt now that we've completely divorced the economy from the stock and the bond markets."Chamath Palihapitiya is the founder and CEO of investment firm Social Capital.Read More
Peter Schiff is an internationally recognized economist specializing in the foreign equity, currency and gold markets. Mr. Schiff made his name as President and Chief Global Strategist of Euro Pacific Capital. He frequently delivers lectures at major economic and investment conferences, and is quoted often in the print media, including the Wall Street Journal, New York Times, Barron's, BusinessWee...Read More
Exporters of steel billet from the CIS have managed to secure deals at higher prices outside China, where trading activity has been concentrated recently.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $347 per tonne on Tuesday May 12, up by $2 from May 7.A 10,000-tonne cargo of Ukraine-origin billet was reported sold to Italy at $350 per tonne fob Black Sea.And...Read More
Some of today's questions:Suds7711: What if the Gold price is correct right now and everything else resets to match Gold.....Deflation??Michael B: If we are forced to use a digital Fed coin in the future where all transactions are not only monitored but controlled based on social scoring what will be the roll of precious metals? Won't it completely remove the value because it IS outside the system...Read More
Sen. Rand Paul criticized Dr. Anthony Fauci during a Tuesday Senate hearing. "As much as I respect you, Dr. Fauci, I don't think you're the end-all," Paul said. "We can listen to your advice, but there are people on the other side who say there's not going to be another surge." Dr. Rand Paul is the junior United States Senator for Kentucky. Elected in 2010, he has proven to be an outspoken champio...Read More
In this episode of Keiser Report, Max and Stacy discuss legendary hedge fund investor, Paul Tudor Jones, betting on bitcoin as he compares it to gold in the 1970s. They also look at the growing pressure for the Fed to go negative: a perhaps fatal event. In the second half, Max interviews Dan Held of Kraken.com about the bitcoin halving and what it means for the hardening to happen in an age of inf...Read More
Dr. Anthony Fauci appeared before a US Senate Committee today to warn Senators against opening the country after the coronavirus outbreak. Opening too soon - before a vaccine - will bring needless death and suffering, he said. No mention of the needless death and suffering caused by the lockdown itself - cancer treatments cancelled, surgeries cancelled, Depression-level economic collapse, depressi...Read More
A House resolution from Illinois Democrat Rep. Bobby Rush that would put Big Government in charge of tracking citizens' movements as they relate to COVID-19 mitigation efforts - even sending health bureaucrats to "individuals' residences," "as necessary," as the legislation statesRead More
Topics:China's Silk Road and Belt initiative goes bust, dollar looking pretty good by comparison. Will the Chinese exercise gunboat diplomacy?Battle between ECB and German CB, who can't agree on how much QE is enough. German Supreme Court has ruled that ECB has gone too far with its version of QE. Europe is only halfway through its integration process and is falling rapidly behind on its goal.Seco...Read More
"I do think recovery will be months-long, based on the tools we have at hand today.""Our hope is that by using the data, we'd be able to slowly lift restrictions over the next three months."Continue...Read More
This COVID-19 is by no means even as bad a SARS. The death rate is confined to the elderly who die from the flu. So what is really going on here? All the data demonstrates that this is not aContinue...Read More
"If you nationalize a market...all the brokers and the dealers go away and you have no more liquidity and it becomes a permanent fixture of the central bank or the government itself."Jim Bianco is President and Macro Strategist at Bianco Research, L.L.C. Since 1990 Jim's commentaries have offered a unique perspective on the global economy and financial markets. Unencumbered by the biases of tradit...Read More