By Gary ChristensonThis article was written for Miles Franklin by Gary Christenson.Bob Dylan "Shelter From The Storm""I bargained for salvation and she gave me a lethal dose."What Storm? Why do we need shelter?The stock market hit all-time highs in January, corrected, and might rally to new highs... or maybe not... See below.Official unemployment is low if you believe the statistics and ignore t...Read More
US Secretary of Defense James Mattis reiterated that the Pentagon still has no independent evidence to confirm that there was a chemical weapons attack in Syria last week... but said he personally believes there was one.Read More
By Ira EpsteinGold gives back all of its recent gains and is back to a support level.http://iraepstein.com/ Read More
Turkish domestic rebar and wire rod prices went down slightly, on a US dollar basis, due to the weakening lira, sources said on Thursday April 12.Metal Bulletin's weekly price assessment for domestic rebar in Turkey was $570-580 per tonne ex-works, narrowing down on the top end of the range from the $570-590 per tonne assessed last week.The domestic rebar prices in the...Read More
The Fed is now officially screwed. The single biggest concern for the Fed is inflation. The reason for this is that US Treasuries are currently in a massive bubble. And those Treasury yields trade based on inflation.If inflation rises, so do Treasury yields. If Treasury yields rise, Treasury prices fall. If Treasury prices fall, the bond bubble begins to burst. Here's the bad news... inflation is...Read More
It looks like the subprime auto loan bubble has popped.Last year, we reported that the auto industry's check engine light was on. Now it looks like the thing is totally breaking down. Small subprime auto lenders are starting to go belly-up due to increasing losses and defaults. As ZeroHedgenoted, "we all know what comes next: the larger companies go bust, inciting real capitulation."Bloomberg...Read More
Continue...David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is the author of The Great Deformation: The Corruption of Capitalism...Read More
By Craig HemkeIf Comex digital metal prices were back down today solely upon easing war fears, I think we'd all be relieved and fine with it. But when you realize that yesterday's "market" action was simply just the latest act of The Criminal Banks, you might feel otherwise.Again, we've written about this a million times and if you haven't yet listened to yesterday's podcast, you should do so ri...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebarEgypt, domestic (Ezz Steel), rebar, offered at E ?12,528 ($708) per tonne...Read More
- EU and euro face growing risks including trade wars, energy independence and war with Russia in Middle East- Middle East war involving Russia may badly impact energy dependent & fragile EU- Trade and actual wars on European doorstep show the strategic weakness of the EU- Toxic combination due to growing anti-EU and anti-Euro sentiment in many EU nations- Investors should diversify to hedge inv...Read More
SHANGHAI, Apr 12 (SMM) – China’s sales of new-energy vehicles (NEV) in the first quarter pf 2018 more than doubled year on year as demand grew, according to China Association of Automobile Manufacturers (CAAM).From January to March, sales of NEVs stood at 143,000 units. This is up 154% from the first quarter of 2017. Output for January-March 2018 stood at 150,000 units,...Read More
The recent stock market volatility reflects the beginning of a massive down-side revaluation in stocks. In fact, it will precipitate a shocking revaluation of all assets, especially those like housing in which the price is driven by an unchecked ability to use debt to make the "investment." This unfettered and unprecedented asset inflation is resting precariously on a stool that is about to have i...Read More
By Axel MerkThose who own gold often argue how to best own it. I encourage anyone holding gold to assess the pros and cons of different choices of gold ownership to make an educated rather than emotional decision. Let me explain.I commissioned the above cartoon back in 2011 in response to an assertion by CNBC's Steve Liesman no one would accept a gold coin in a grocery store. My take was that, h...Read More
Turkish steel producers have resumed their bookings for May shipments and prices started to rebound on Thursday April 12.Three deep-sea cargo trades were heard on Thursday, although the deals had been made late on Wednesday, according to market sources.A steel mill in the Marmara region booked a European cargo, comprising 19,000 tonnes of HMS 1&2 (75:25), 5,000 tonnes of shredded and 11,000 tonnes...Read More
In today's Crypto Audioblog, Andy Hoffman of CryptoGoldCentral.com and the World Crypto Network loudly trumpets why he believe today's price surge marks the END OF THE CRYPTO BEAR MARKET!Andrew ("Andy") Hoffman owns a subscription-based website, CryptoGoldCentral.com, which offers readers Andy's daily thoughts on cryptocurrencies and precious metal markets. For a decade, he was a US-based buy-side...Read More
Dear Congressman Mooney:I am writing to you about something of great importance, the path to the gold standard. Thank you for introducing H.R. 5404. I agree with your findings, especially that inflation undermines jobs and retirement. Yet I must say that the dollar cannot now be defined as a weight of gold.This would be nothing more than a price-fixing scheme.Every attempt to fix prices has ende...Read More
SHANGHAI, Apr 12 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightWeighed down by potential US military action in Syria, the US dollar index edged down slightly and hovered around 89.5, but received some support from the Fed’s March meeting.The Syria factor also depressed base metals except for LME aluminium. LME aluminium...Read More
One thing is certain: JPMorgan isn't loading up on silver because it expects the price of silver to fall. Here's the details...by Justin Spittler of Casey Research"It can't catch a bid."When I used to go into an office, I would hear this all the time. My coworkers, who are analysts and investors like me, were talking about silver.It's easy to see why. The metal has basically gone straight down fro...Read More
Iron ore prices continued to weaken on Thursday April 12, tracking the decline in China's steel market.Metal Bulletin 62% Fe Iron Ore Index: $64.47 per tonne cfr Qingdao, down by $0.32 per tonneMetal Bulletin 58% Fe Premium Index: $52.26 per tonne cfr Qingdao, down by $0.25 per tonneMetal Bulletin 65% Fe Iron Ore Index: $81.70 per tonne cfr Qingdao, unchangedMetal Bulletin 62% Fe China Port Price...Read More
Everyone focuses now on the chemical attack in Syria. Meanwhile, the most important turnover in the world remains mostly unnoticed. But we're on guard. Let's read our analysis of the key revolution of 2018 and find out the implications for the gold market. Hawks Take Over the FedAre we going to write about Syria? North Korea? China? No. You already know everything you should about these geopoli...Read More