Stewart Thomson, Graceland Updates1. The big question about America is how much more money the Fed can print while the government runs a program of borrowing money to infinity... before hyperinflation turns the fading empire into a fire pit.2. The debt-themed empire is in tatters already, but it has yet to become an inferno. The world watches aghast, as Americans blow each other aw...Read More
Every year around this time, we check in with raw materials for our popular commodities halftime report. This year, it wasn't even a competition. Precious metals were the big winners for the first six months of 2020. Spot gold took the first place position, rising over 17 percent, followed in second place by silver, up nearly 2 percent. Palladium rounded out the top three, essentially flat at...Read More
- Stefan GleasonMany retail businesses including grocery stores and fast food restaurants have been wrangling with a national coin shortage. Some are posting notices informing customers that they will need to pay in exact change or use alternative payment methods such as credit cards.What's driving this scarcity of quarters, dimes, nickels, and pennies?The answer from the U.S. Mint: COVID-19....Read More
House Rep, Alexander Mooney, introduced a Bill that would the first true audit of gold owned by the United States in more than 65 years. The Bill, if passed, would require a full assay, inventory and audit of the U.S. gold every 5 years. Currently the gold is being "safe-kept" by the Fed.The last time a Bill was introduced to audit the Fed, specifically the gold and gold swaps activity, the F...Read More
By: Gary SavageHere is what to look for on the gold breakout. Bullion banks are stuck in a large short position, they have covered some but have a significant problem. After multiple attempts, gold has broken out of this sideways/box. A break above $1,800 doesn't hold a lot of resistance, but holds the potential to be a false breakout: Stocks becoming dangerous:Gary Savagehttps://blog.smartmoney...Read More
By: Ira EpsteinGold 1796 area is a swing point, if taken out, then the market will head towards its 18-dma support around 1786 area. Doesn't mean the party is over:Read More
The fall in silver and gold is just profit taking and should be used to go long or invest. Crude oil should crash (on demand fundamentals) but is not even correcting. New investors of precious metals and industrial metals are waiting for correction to invest. Pension's funds have to give pensions to pensioners. They have increased their portfolio allocation to gold. Silver price will break past...Read More
Strengths? The best performing precious metal for the week was silver, up 4.25 percent. Investors poured money into silver-backed ETFs this week as the precious metals trade begins to increase in scope. Spot gold prices reached the key $1,800 an ounce level. This milestone could help push the metal closer to its all-time high above $1,900. Bloomberg notes that gold futures traded alm...Read More
Richard (Rick) Mills, Ahead of the herdThe US economy is nowhere near recovering from the lockdown measures imposed by cities and states during the covid-19 pandemic, and that is weighing on the US dollar, which has fallen sharply since March. The beneficiary, as expected, has been gold (and silver), which normally moves in the opposite direction as the greenback. Year to date, spot gold has ri...Read More
Adam HamiltonArchivesJul 10, 2020The gold miners' stocks are blasting higher, just achieving major new secular highs! Traders are flocking back to gold stocks as the metal they produce relentlessly advances on strong investment demand. That is atypical during market summers, but the pandemic has made for unprecedented times. This gold-stock upleg is big, but doesn't look excessive yet. It should k...Read More
Bob Moriarty ArchivesJul 13, 2020I came across an interesting tome recently titled Common Sense 2.0 by a writer calling himself Thomas Paine. Streetwise Reports had someone doa review of the book. It sounded interesting so I ordered a copy of the book.It is a fascinating read even if I happen to agree with the majority of what the author suggests. He goes on to put down a long list of the serious...Read More
Federal Reserve Chair Jerome Powell and San Francisco Fed President Mary Daly both recently denied that the Federal Reserve's policies create economic inequality. Unfortunately for Powell, Daly, and other Fed promoters, a cursory look at the Fed's operations shows that the central bank is the leading cause of economic inequality.The Federal Reserve manipulates the money supply by buying and sell...Read More
Dear Friend of GATA and Gold:Surreptitious intervention in the gold market by the U.S. government is the target of legislation introduced in the House of Representatives by Rep. Alex X. Mooney, R-West Virginia.In a letter to House colleagues seeking support for his Gold Reserve Transparency Act, H.R. 2559, Mooney writes: "Because there are concerns the U.S. Treasury may have sold, swapped, lease...Read More
Strengths? The best performing precious metal for the week was silver, up 4.25 percent. Investors poured money into silver-backed ETFs this week as the precious metals trade begins to increase in scope. Spot gold prices reached the key $1,800 an ounce level. This milestone could help push the metal closer to its all-time high above $1,900. Bloomberg notes that gold futures traded alm...Read More
Richard (Rick) Mills, Ahead of the herdThe US economy is nowhere near recovering from the lockdown measures imposed by cities and states during the covid-19 pandemic, and that is weighing on the US dollar, which has fallen sharply since March. The beneficiary, as expected, has been gold (and silver), which normally moves in the opposite direction as the greenback. Year to date, spot gold has ri...Read More
[A friend who made his fortune in the laundry business has enjoyed enviable returns on his nest egg by staying fully invested in stocks. The following is a personal letter from his financial advisor telling him why, even after the stock market's spectacular rally since late March, he should stay in equities. The advisor's list of pros and cons nicely sums up the thinking of many of advisors with...Read More