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Showing posts with label silver. Show all posts
Showing posts with label silver. Show all posts

Sunday, March 26, 2017

Gold and silver climb on Sunday open as dollar within 70 bps of critical 200 day moving average

As markets opened for Asian trading on Sunday evening in the Western time zones, the dollar continued its slide downward following the House's failure to bring about a healthcare vote to the floor.  And with gold moving up nearly $10 in the first couple hours of global trading, it may only be a matter of days or even hours before the dollar falls below, and gold crosses above, their 200 day moving averages.

On Friday the dollar index showed a close for the USD of 99.77, and had already dropped below its 50 and 100 day moving averages earlier in the week.  And with Congress appearing to be in a stalemate following the healthcare vote debacle, the markets are not trusting in the legislature to be able to deal with upcoming debt ceiling discussion that is currently ticking down for the government.


Gold and silver on the other hand are both becoming beneficiaries of the dollars free fall, and the Fed's inability to deal with economies ongoing stagflation.


Wednesday, March 22, 2017

Silver mint sales skyrocket this week as gold to silver ratio remains at 70/1

There has been much discussion over the past 30-45 days of the decline in the purchasing of gold and silver bullion from the U.S. Mint.  And there are many factors that could be driving this decline in demand which include institutions going full bore into stocks (as we saw with the Dow going from 20,000 to 21,000 in record time), and also the fact that retail consumers are desperately out of money to buy non-necessity items.

But something interesting happened on Monday which may be showing that the past month's declines in silver buying was perhaps just a blip on the radar as reported sales on Monday, March 21 were alone more than three times the total amount of Mint silver sales from the previous week.

Image result for silver better investment than gold
Silver at just $17.50 per ounce remains about 1/ 70th of the price of gold at $1,230/oz today. This gold silver ratio of 70.3 continues to drive silver ‘stackers,’ value investors and those seeking a better return than gold to accumulate silver at what are seen at these still relatively cheap levels. 
This is seen in continuing robust demand for the very popular silver bullion coin this week. The U.S. Mint sold 715,000 of Silver Eagles ( 1 oz) this week, to bring the year to date sales totals for 2017 to a robust - 7,557,500 Silver Eagle coins. 
We have seen very robust demand for silver again this year, especially from clients in the UK and Ireland buying silver bullion coins (now VAT free) such as Silver Eagles. We are seeing even greater demand for Silver Maples and Silver Philharmonics. - Silverseek
US Mint Bullion Coin Sales (Number of coins)
Monday SalesLast WeekFeb SalesMar Sales2017 Sales
Silver Eagles
(1 oz)
715,000220,0001,215,0001,215,0007,557,500
Gold Eagles
(1 oz)
4,0002,50021,00010,000117,500
Gold Buffalos
(1 oz)
1,5002,50015,0004,50051,500

Friday, March 17, 2017

Shanghai Gold Exchange on brink of taking over control of gold prices following VIP meeting and actions after Fed rate hike

In a rushed update put out on March 17 by economic analyst Dr. Jim Willie, it appears that following the Federal Reserve's raising of interest rates two days ago, China, through the Shanghai Gold Exchange, may finally be moving up its plans to wrest control over the gold price from markets in the West.

In a new article published in tandem with his normal monthly Hat Trick Letter, Dr. Willie reported that it appears that the Chinese are now accelerating their plans to disconnect from dollar hegemony following the Fed's recent FOMC meeting and rate hike, and in response to the the market reactions made in the dollar and bond rates following the central bank's March monetary policy move.


Something big is afoot in the Shanghai Gold market. It seems that we are at the door of the RESET finally, with China being betrayed by the USGovt and USFed in concerted collusion. The attempt to reduce the USDollar while maintaining ultra-low bond yields seems the final straw. The inference is made that the jig is up finally, and a significant turning point is upon us. 
A contact at Evolution Consulting has reported that his best contact notified him that VIPs are being invited to take tours of the Shanghai Gold Exchange operation. This man was among one of the guests. These tours are not being arranged in some congenial welcoming event, not at all. Rather they are informational and official in granted preview. They are almost surely being staged to inform the opposition that it is all over for them now. With a cherry on top, the VIP guests were required to pay for the tour. The above juicy tidbit was provided by a client, passing the word along. Something big is afoot. 
China seems to have changed its position toward aggressive in the gold market introduction with gusto and emphasis. Conclude easily that where there is smoke, there is fire, and the heat will be on physical gold metal demand in Asia. In turn the pressure will be put on the USDollar, whose custodians are not honorable and for perhaps the last time, have betrayed the Chinese. Lower USDollar valuation combined with already chronic low bond yield could have turned the Chinese hostile in the wake of the USFed rate hike. 
Analyst London Paul believes something significant is on the verge of breaking the paper gold market. The clues have come on the behavior of the gold market since the Yellen Fed announced its small rate hike. It was small but significant, and probably involved a lie to the Chinese Govt finance ministers. Such coincidences do happen, but odds are against a coincidence in this case, since so critically important. Time will bear out the conclusion. The Western bankers have a long history of lies, deceit, betrayal, subterfuge, sabotage, and pilferage. They might have sacked their economies on the road to the Global Fascist State, but China has not signed up for the destructive evil development and pathway. 
EuroRaj also confirmed London Paul’s suspicion and tentative conclusion. He mentioned that such view is absolutely right, given the market reaction. Someone at the Shanghai Gold Exchange spiked the price higher the moment the Fed raised rates, which required the paper market to follow higher. He stated unequivocally that the Chinese do not consider the USFed, the banker cabal, and the US Elite as honest business partners any longer. He expects their harsh clear revenge to follow, with the launch of the long awaited Global Currency RESET to come next. US President Trump visiting the Andrew Jackson grave site was another sign, as Jackson was an arch-enemy of the banker cabal. He survived an assassination attempt. Neither Trump nor China wanted the rate hike. Trump does not want higher USGovt borrowing costs or the added economic headwind. China does not want lower bond principal value and lower USDollar value. Hence the East appears to have burned the Western banker cabal with a paper fire that could turn into a bonfire in gold metal demand. China likely perceived a maneuver to sabotage Trump by the banker cabal, and the Beijing leaders yelled PUNT, game over, no more cooperation. 
At least in the Eastern hemisphere, the USDollar is about to be kicked to the curb, shunned in trade payment usage. The non-USD platforms will be given much greater emphasis. The game is about to change, to enter the extreme danger zone. - Goldseek
Yet even this new information doesn't take into account the sudden exit from the London Silver Fix last week by the CME Group and Thomson-Reuters, who may have also seen the writing on the wall that the West is losing control over the manipulation of gold and silver prices, as well as bond yields for the U.S. Treasuries.

It was said by many that March 15 would be a critical date for the economic, financial, political, and geo-political spectrum's, and that the Ides of March may show itself in mysterious and unpredicted ways.  And going forward with the Fed raising interest rates at a time when economic data is screaming that the U.S., if not the rest of the world is bordering on recession, the reality that the time of protectionism and all countries looking out for themselves may very well be upon the global financial landscape.

Thursday, March 16, 2017

Gold price surges back over its 50 and 100 day moving average following Fed rate hike

Immediately following the Fed's announcement that they were raising interest rates a quarter point on March 15, both gold and silver shot up higher with the yellow metal gaining $22.00 into the close, and following this up with another $7 move early in Thursday trading.

While slightly dropping below it's March 7 position of $1230 from a week ago after the strong move up yesterday, gold nonetheless has gone back above its 50 and 100 moving day average and appears set to rise more based on the Fed's inadequacy in explaining to the public why they chose to raise rates with the economy signalling slow growth and possible recession.

Live New York Gold Chart [Kitco Inc.]
Gold is above its 50- and 100-day moving averages and $1225, and Silver is above $17

Tuesday, March 14, 2017

Idaho follows Arizona this month in voting to eliminate state taxes on gold and silver purchases

With the growing expectations of a possible collapse in the dollar and other fiat currencies thanks to the nation's $20 trillion in debt, and the upcoming debate over increasing the debt ceiling, the Idaho legislature on March 14 voted overwhelmingly to eliminate capital gains and sales taxes on the buying and selling of gold and silver.

In a vote of 56-13, Idaho's legislative body joins that of Arizona who last week also voted to remove state taxation from the Constitutional monetary metals, and systematically declared that gold and silver are no longer simply commodities, but actual legal tender.

By an overwhelming 56-13 margin, the Idaho House of Representatives today voted to end all Idaho taxation on precious metals, e.g. gold and silver coins and bars. 
Bill sponsor Representative Mike Moyle (R) and the entire Republican caucus voted for the measure. If the Republican-controlled Idaho Senate follows suit and Governor Butch Otter (R) signs the bill, Idaho citizens will better be able to use gold and silver as a form of savings which protects against ongoing devaluation of America’s currency. 
Backed by the Sound Money Defense League, Idaho Freedom Foundation, Money Metals Exchange, and grassroots activists, HB 206 expands Idaho’s existing sales tax exemption to end Idaho income taxation of sales of “precious metals bullion” and “monetized bullion.” - Money Metals

Sunday, March 12, 2017

As central banks lose control over inflation, and manipulation of metals slowly ends, what is the real price of gold and silver

In the late 1970's central banks lost control over inflation forcing New York Fed President Paul Volker to push for a boosting of interest rates beginning in 1978.  In fact, during a six month period in that year, rates were increased 2% to a level of 9%, only to find out that inflation still continued to climb.

A year later inflation was raging at a level of 13%, and following President Jimmy Carter's firing of several people in his cabinet, declining confidence in the dollar led to gold shooting up an unprecedented $300 an ounce in a short amount of time.

Gold of course would go on to reach a then historic high of around $850 per ounce until Volker, who would become the next Chairman of the Fed under President Ronald Reagan, took the ultimate step of raising rates from 9% to 20% between late 1979 and 1981.

The moral of this story is that once inflation gets away from central bankers, only a move of raising interest rates to extreme levels will have any chance of taming the inflation monster, but at a cost to the general economy, as well as the stock markets.

Fast forward to 2017...

On March 10 central bankers in Japan and Europe both hinted that they may now be forced to end their policies of ZIRP and could soon commence on monetary policies of raising rather than lowering interest rates because the inflation they have been masking for the past nine years has begun to rise precipitously similar to what occurred in the U.S. economy during the 1970's.  Added to this was what the market titled 'Bond King' Bill Gross said about the 10-year Treasury, that if it reaches and stays above 2.6% it will mean armageddon for almost everything.
Investors need to watch only one number in 2017 to figure out what returns are going to look like across the various markets, bond guru Bill Gross said Tuesday. 
Whether the 10-year Treasury yield crosses the 2.6 percent mark will be critical both to the bond market and to stock prices, the fund manager at Janus Capital wrote in his monthly report for clients. The yield was around 2.39 percent Tuesday morning. Higher yields reduce a bond's face value. 
"If 2.6 percent is broken on the upside ... a secular bear bond market has begun," Gross said. "Watch the 2.6 percent level. Much more important than Dow 20,000. Much more important than $60-a-barrel oil. Much more important than dollar/euro parity at 1.00. It is the key to interest rate levels and perhaps stock prices in 2017."
Gross said the 10-year yield has been in a downward trend line since 1987. If that channel is broken, look out. 
"Investment happiness and/or despair may lie ahead over the next 12 months depending on it," he said. - CNBC

This week will see at least two, if not three or more important financial, economic, and political events occur that will have tangible effects on interest rates, inflation, gold and silver, as well as the overall economy.  These include but are not limited to:  The debt ceiling vote, the Fed's FOMC meeting and announcement, and elections in the Netherlands which could bring another anti-euro and anti-EU candidate to a presidency.

All if this of course is almost meaningless in regards to the potential of inflation moving into a higher gear no matter what the central bank does monetarily, and the Congress does fiscally.  Because through our 100 year plus virtual fiat currency system, where the purchasing power of the dollar has lost over 97% of its value, what would the price of gold and silver be if that inflation completely disconnects from any chance of central bank or government control?

Earlier today on March 12, Matterhorn Capital Management head Egon Von Greyerz laid out a chart of what the actual price of gold and silver should be today using dollar terms if the cost of inflation had been, and was allowed to effect money and asset prices.  And in his charts going back 300 years of actual inflation (not reported or manipulated), then gold today would be around $14000 in 1980 dollars, and silver above $650.
The 300-year chart of gold adjusted for real inflation shows that gold is now at the bottom of the range. Even more interestingly, the $850 top in January 1980, adjusted for inflation, would be $14,463 today.
300 year gold price
The 300-year silver price chart, adjusted for real inflation confirms that the 1980 $50 top would be $669 today. - News.gold-eagle
300 year silver price

Many will say that these prices are absurd, and that central banks will always have the ability to control and manipulate gold and silver markets, as well as obfuscate the reporting of real inflation.  But all one has to do is look back to 2008 when they had to come hat in hand for a taxpayer bailout to save the entire global financial system, or in 1980 when it took extreme measures that are impossible for them to do today regarding interest rates because of how high the U.S. and global debt levels are, and you will see that if the scenario of out of control inflation is already set, then it is only a matter of time now before they lose control over all prices and assets, and gold and silver will very quickly spring back to their equilibrium true values that will not just leave the metals unaffordable, but damn well completely priceless.

Thursday, March 9, 2017

With the gold to silver ratio over 70:1, exchanging gold for silver is an inexpensive way to start accumulating your stack

Contrary to much of the mainstream rhetoric given by brokers and mutual fund managers on how to grow your investments, one of the best and most inexpensive ways to accumulate wealth is by using the divergence between two precious metals to expand your assets.

Thanks to the U.S. government changing gold and silver from money to a commodity in 1971, the historic ratio of 10:1 or 15:1 has become broken due to the financialization of precious metals.  And it is through this mechanism that individuals can use the skewed ratio to their own advantage.

On March 9 the gold to silver ratio is now above 70:1, with the price of gold being approximately $1202 and the price of silver being around $17.18.  This means of course that it doesn't matter if gold is undervalued in relation to the dollar or other fiat currencies, but rather that silver is extremely undervalued in relation to gold.

24 hour gold silver ratio chart

So how does using the gold to silver ratio to your advantage work?  When the ratio is above 50:1 as it is now and has been several times over the past two decades, it is time to exchange a portion (large or small... it is all dependent upon your appetite) of your gold for silver.  And likewise when the ratio then starts to fall down from a high to one that is below 50:1, the opposite is in effect where you exchange your silver stack for gold.

Example:  5 ounces of gold minus a premium cost (average) of $2.29 for each silver ounce allows for an exchange of approximately 309 ounces.

Now let's look at the historic chart for the gold to silver ratio since 1971 and see how many nexus points allow for a profitable exchange of one metal for the other.


Over the course of the past 35 years, there have been at least eight different cycles in which it would be profitable to exchange gold for silver or vice-versa when the ratio's reversed from one level to its opposite.  (These are approximate estimates based on the above chart)

1973 - 1977   - Silver for gold when ratio went from 43:1 to 23:1
1977 - 1979   - Gold for silver when ratio went from 23:1 to 18:1
1979 - 1982   - Silver for gold when ratio went from 18:1 to 56:1
1982 - 1984   - Gold for silver when ratio went from 56:1 to 37:1
1984 - 1991   - Gold for silver when ratio went from 18:1 to 98:1
1991 - 1998   - Silver for gold when ratio went from 98:1 to 42:1
1998 - 2004   - Gold for silver when ratio went from 42:1 to 79:1
2004 - 2008   - Silver for gold when ratio went from 79:1 to 50:1
2008 - 2008   - Gold for silver when ratio went from 50:1 to 80:1
2008 - 2011   - Silver for gold when ratio went from 80:1 to 38:1
2011 - 2016/17   - Gold for gold silver when ratio when from 38:1 to today's 70:1

One would need to look back at the historic prices of both gold and silver to determined exactly the premium costs for each exchange, as well as the amounts of metal one would accumulate through each cycle.  But over the course of the past 35 years that original 5 ounces of gold would very likely have grown to 20-30 ounces or more, and your silver stack would be close to 2000 at the time of your most recent exchange here in 2017.

Wednesday, March 8, 2017

The CME Group's leaving the London Silver Fix could forecast the end of silver manipulation by end of the year

Last Friday night we published an article on the bombshell news that the CME Group (Chicago Mercantile Exchange) and Thomson-Reuters was leaving their position as the platform for facilitating the daily 'Silver fix' for the London Bullion Market Association (LBMA).  But what was left out of this was why the two entities would choose to leave this obligation with two years still remaining on their contract.

Now on March 7, more pieces of the puzzle may be coming out as metals analyst Bix Weir came up with some further documentation of an event that is to take place on Jan. 1, 2018 which involves new regulations from the European Union that will make it harder to rig financial markets, including that of Libor, Forex, and obviously precious metals.

The European Commission proposed a draft Regulation “on indices used as benchmarks in financial instruments and financial contracts”(Benchmarks Regulation) in September 2013 in the wake of the manipulation of various benchmarks. On 24 November 2015, the European Parliament and the Council reached a preliminary political agreement on a compromise text of the Benchmarks Regulation, an agreement that was confirmed on 9 December 2015 by the Permanent Representatives Committee of the Council of the European Union. The European Parliament voted and approved the text of the Benchmarks Regulation in its plenary session on 28 April 2016. The Council adopted the same text on 17 May 2016. The text of the Benchmarks Regulation was published in the European Official Journal on 29 June 2016, and entered into force the following day. It is entering into application on 1 January 2018. - ESMA
It is the use of 'benchmarks' rather than having the market itself establish prices for gold, silver, and other assets that has allowed central banks and their primary dealers to manipulate nearly every market, and made price discovery completely irrelevant when it comes to determining the true value of a given asset.

Whether the sudden exit by the CME Group and Thomson-Reuters from their contract with the LBMA is due to recognizing that the writing on the wall for the ending of the manipulation of silver is still to be seen, but with new potential crises coming onto the scene in both Europe and the U.S.'s financial systems, the possibility that the central banks will soon no longer be able to rig asset prices could come as soon as the start of next year.

Sunday, March 5, 2017

How does J.P. Morgan's trading desk have 0 losses in two years? Short mining stocks then crash metal prices to cover

According to a recent report out by Zerohedge, J.P. Morgan's trading desk had one of the most incredible, and impossible win streaks ever seen on Wall Street.  In fact, not only did they not have a single losing trade in 2016, but between 2012 and 2016 they only had two singular losing trades out of billions if not hundreds of billions conducted in the HFT sphere.

Thus the question one has to ask of course is how is this possible since the the average win ratio for even the best individual trader is around 58%?  And in an interview on March 3 with Peak Prosperity's Chris Martenson, the long time financial analyst lays out one of the many scenarios used by the investment bank through their shorting of mining stocks, then crashing metals when the markets are closed by dumping billions of dollars of naked shorts on the Comex to skim the profits, and then cover their positions.

Image result for jp morgan manipulating silver market
Rory Hall:  I want to get back to something we we're talking about a moment ago, and that is silver.  And how do you see yesterday with this silver beatdown, and where silver was raped for better lack of the word, by more than 4%... there was something like $2 billion worth of digital contracts thrown at it in about a half an hour.  What's your take on that? 
Chris Martenson:  There is a fairly complex take on this, but let me make it simple here... it's fraud.  And it's not just in the silver market.  I follow silver and gold closely so I'm aware of this there, but I can tell you it happens everywhere now because the big banks long ago won the battle and captured the SEC under Mary Jo White, and it's been a complete disaster of lack of regulation. 
So here's is the focus on how and where this theft, this fraud is committed.  The big commercial banks that are out there... J.P. Morgan, HSBC, all the big bullion banks that are playing in this market.  They go out there and take the opposite side of this trade, and they are rapidly getting shorter, and shorter as the price of silver is going up.  And taking the other side of that bet are only people I can assume are named Charlie Brown, because they fall for it everytime.  And the banks have done this a dozen times over the past five years. 
But here's the tell... as silver was rising the last three days before that big smackdown, the miners... the silver miners in particular were very weak.  In fact, they were going down. 
So when you see the stocks going down at the same time the metal's are going up, you know that someone is aggressively selling those... they are shorting the stock, selling the stocks short. 
So they build a huge naked short position in the mining stocks, and within days BAM!  And the next thing you know the price of silver gets hammered... monkey hammered in the aftermarket.  After the physical London market is closed they always do it then, if not at 1:30 in the morning, and they just flood the market and crush the bid stack, driving the price down.  They they simply buy back and cover their shorts and skim the profits while leaving everyone holding the stock, or a futures contract, as the loser.

Friday, March 3, 2017

Breaking! Just months after banks admit rigging silver price, LBMA administrators suddenly resign from the London price fix

On March 3 the CME Group, along with Thomson Reuters, without warning announced their resignation from running the auctions which set the daily silver price for the LBMA.

Long known as the London Price Fix, this sudden resignation by the two U.S. corporations which play an intrinsic role in controlling the price of silver comes just months after Deutsche and other banks admitted in court that they have been rigging prices in the silver markets for more than a decade.

CME Group and Thomson Reuters are to step down from providing the LBMA silver price benchmark auction, the London Bullion Market Association said on Friday, less than three years after they successfully bid to provide the process. 
"In consultation with the LBMA, CME Group and Thomson Reuters have decided to step down from their respective roles in relation to the LBMA Silver Price auction," the LBMA said in a members update seen by Reuters. 
The two will continue to operate and administer the silver auction until a new provider is appointed, the LBMA said. It will launch a new tender to appoint an alternative provider to operate the process "shortly", it said. - Reuters
The Chicago Mercantile Exchange (CME Group) is the world's largest commodity derivative exchange, and plays an essential role in allowing the Federal Reserve and its primary dealers (bullion banks) to manipulate gold and silver prices through the use of naked shorts and other derivatives.

Sunday, February 26, 2017

State of Idaho joins Utah and Arizona in forging legislation to recognize gold and silver as money

Earlier this year, the states of Utah and Arizona both proposed legislation to eliminate state taxes on the buying and selling of gold and silver in a first step initiative to have them once again recognized as money and legal tender.  Now on Feb. 24 we can add the state of Idaho to the mix as the growing trend towards returning to sound money is starting to pick of steam.

A bill introduced in the Idaho House would eliminate state capital gains taxes on gold and silver specie, and encourage its use as currency. Final approval of the legislation would help undermine the Federal Reserve’s monopoly on money. 
House Majority Leader Mike Moyle introduced House Bill 206 (H206) on Feb. 23. The legislation would amend Idaho revenue statutes, providing “that capital gains and losses on precious metals bullion and monetized bullion sales be added to or subtracted from Idaho taxable income.” 
The Framers of our nation established that gold and silver are money, but federal taxing authorities in recent decades have required taxpayers to pay taxes on this form of money when its exchange for Federal Reserve Notes results in nominal capital “gains.” 
Similar to a bill recently passed by Arizona’s state House, Idaho H206 is a pure and tax neutral proposal. That’s because both precious metals gains (income) and losses are backed out of the calculation of one’s Idaho taxable income.   While HB206’s passage will have little fiscal impact as to Idaho tax revenues, it will have a larger impact on Idahoans’ freedoms. 
Enjoying the backing of the Sound Money Defense League, the Idaho Freedom Foundation, and Money Metals Exchange (an Idaho-based national precious metals dealer), the Idaho proposal seeks to correct the misclassification of precious metals by the IRS as “property” rather than money.  It is only because of this misclassification in the first place that precious metals income and losses are included in the federal adjusted gross income number that flows through to the taxpayer’s Idaho tax return. - Tenth Amendment Center

Friday, February 17, 2017

Silver could be the greatest potential investment of all time as paper sales of metal in Comex and LBMA are close to 3000 to 1

While China is currently in the process of trying to wrench price determination for gold from the Comex and LBMA, these futures markets still have absolute control over how the price of silver is determined in the spot markets.

And in a couple of recent podcast interviews, precious metal and bitcoin analyst Bix Weir announced that from his research he has discovered that the amount of derivatives being sold in relation to the amount of physical silver actually held in both the Comex and LBMA is close to 3000 to 1, with over 100 billion ounces being traded in 2016 for a registered inventory of only 30 million physical ounces.

Crush the Street: I'd like to start off with your latest publication named $10,000 ounce silver if Donald Trump drains the silver swamp.  $10,000 per ounce silver, not gold?  And silver is sitting at around $17 per ounce... that's a pretty high price and I'd love to get the details on this analysis. 
Bix Weir: It goes back to silver and the price suppression scheme that's been in place for close to 150 years... going back to the Opium Wars in the 19th century.  And then it got kicked into high gear when computers were invented in the 1960's.  I do alot of work on the computer rigging side of the world and that's what Roota (in Road to Roota) stands for (Root A) and was a term created by Alan Greenspan in the 1960's when he helped create the computerized banking system. 
What we see in the silver price today is not a silver market anywhere in the world that trades freely.  What we have in the Comex and LBMA is a market that trades electronically futures and options contracts (derivatives).  The Comex and LBMA are supposed to be a physical market, but it's not, and you can tell by the volumes.  Every year they 'supposedly' transfer over 100 billion ounces of silver, and there hasn't even been 100 billion of ounces of silver dug up in the history of the world. - Crush The Street
The key for this of course is when the manipulation ends, or is forced to end, it will suddenly cause a volatility spike unseen outside of a hyper-inflationary event as price discovery reverts back to a supply and demand model versus a rigged manipulated one.  And this has already begun with the Deutsche Bank testimony in which they, and several other bullion banks, admitted to have been rigging the price of silver for decades.

An end to the manipulation will see silver rise in a two-fold fashion.  First, the banks will need to cover their short positions that are currently active in helping to suppress the price in the derivative paper markets.  And second, once the price climbs in relation to the buying OR insolvency of these banks in defaulting on their derivative positions, the reality of how small supplies really are in the silver market will cause another massive spike due to its absolutely vital requirement to support the global technology sphere.

The gold to silver ratio is hovering around 68:1 right now, and nearly all analysts see silver as more depressed in price than its yellow metal sister gold.  And just as the discovery of oil made petroleum the most important global commodity for use in agriculture, industry, and energy, silver is well on its way to taking over this mantle as the world rushes forward in needing the metal for electronics, alternative energies, and all future technology to come in the 21st century.

Tuesday, February 14, 2017

South Korea is the newest country seeking to eliminate cash and wants to do so by 2020

First it was Sweden, who's people are so intoxicated by technology that it was not very difficult to get them to give up their cash to run on an entirely electronic financial system.  Then in November India decided to jump on the Cashless Society bandwagon, only unlike their counterparts living in the Northern part of Europe, their citizens are the exact opposite and do not trust their government or banking system to take away physical cash from the economy.

Thus when it comes to creating a world without physical money it is on par with how half the world is content to be as sheep and follow the globalists desire to control every aspect of their spending, saving, and investing, while the other half is infused with the frequency of Populism, and realize that without the ability to control your own money in a physical form, then nearly all freedoms are permanently lost to the whims of elected and un-elected officials.


As we are now well into the first quarter of 2017, and living in the aftermath of Brexit and the election of Donald Trump, the battle is on for the establishment to hold onto the status quo, while at the same time fighting a populist movement that seeks to tear down their power base built upon a foundation of debt, credit, and privately owned central banks.  And at the fore are two more major economies push strongly towards a cashless monetary system.

And those two entities are the European Union, and South Korea.
“Hand over your money.” That’s what the Financial Times newspaper called it. But it might as well be rephrased as “Stick ’em up!”

It appears that the Central Bank of Korea, South Korea’s central bank, plans to withdraw all coins by 2020, followed by removing all bank notes soon afterwards. No feedback has been requested from the public.

South Korea is determined to become a cashless society, exclusively using T-Money and other electronic payment cards. This goal may make sense to South Korea’s banks and government, but it is not without obstacles or resistance. - Numismaster
The ball is already rolling down the path towards a completely cashless society, where physical money is eliminated and your freedom to choose to spend, save, and invest as you see fit is at stake.  Which means that the clock is now ticking for anyone who is awake to transition their wealth out of this parasitic system before it is too late, and find alternatives in hard assets that act as money (gold, silver), or in a financial construct such as Bitcoin and Goldmoney, that allow you to keep your wealth in a structure that is outside the control of banks and government.

Sunday, February 12, 2017

Gold and Silver set to take off even as the undisputed King of Commodities forecasts worst economic problems of a lifetime

On Friday silver crossed back over $18 per ounce for the first time since November as the precious metal complex has been even stronger at the start of this year than it was 2016 following identical rate hikes in December by the Federal Reserve.  And now that gold has achieved a vastly important technical indicator by initiating the highly positive Golden Cross, prices for metals are fueled for takeoff at a time of vast uncertainty, and where Jim Rogers, the undisputed King of Commodity trading, is forecasting economic problems so dire that they will be the worst in our lifetime, and consequently people will perish.

...get prepared because we're going to have the worst economic problems we've had in your lifetime or my lifetime and when that happens a lot of people are going to disappear. 
In 2008 Bear Stearns disappeared, Bear Stearns had been around over 90 years. Lehman Brothers disappeared. Lehman Brothers had been around over 150 years. A long, long time, a long glorious history they’ve been through wars, depression, civil war they've been through everything and yet they disappear. 
So the next time around it's going to be worse than anything we've seen and a lot of institutions, people, companies even countries, certainly governments and maybe even countries are going to disappear. I hope you get very worried. 
When you start having bear markets as you I’m sure well know one bad thing happens and another bad thing happens and these things snowball just like in bull markets good news comes out then more good news comes out the next thing you know you're five or six or seven years into a bull market. 
Well bear markets do the same thing and so we have a lot of bad news on the horizon. I haven't even gotten to war. I haven't even gotten to trade war or anything like that but you know things do go wrong. - Microvoices via Zerohedge

Sunday, February 5, 2017

Deutsche Bank apologizes to public in newspaper ad for rigging gold prices... now where is J.P. Morgan's apology?

2016 was the year that institutions such as Wells Fargo and Deutsche Bank lost a great deal of credibility over fraud that they conducted against customers, investors, and the overall markets.  And while Wells Fargo did their best to lie even to Congress about their creating millions of fraudulent accounts and credit cards without their customers knowledge, Deutsche Bank came clean and are now even offering an apology to investors in a national newspaper.
Deutsche Bank took out full-page ads in Germany's Frankfurter Allgemeine Zeitung and Sueddeutsche Zeitung on Saturday, in which the country's biggest lender apologized for (getting caught) engaging in market manipulation and misconduct that has cost the company billions. In the ad, signed by CEO John Cryan on behalf of the bank's top management,the bank said its past conduct "not only cost us money, but also our reputation and trust." - Zerohedge

Yet even with all this, the markets have yet to hear from perhaps the greatest gold and silver manipulator of all.  And this despite the fact that a higher court earlier this week overturned a lower court ruling that had dismissed lawsuits against J.P. Morgan for their rigging of prices in the precious metal markets.

Image result for jp morgan gold rigging
Appeals Court Overturns Dismissal in JP Morgan Silver Rigging Case 
  • US Appeals Court overturns Dismissal in Silver Rigging Case against JPMorgan
  • The Appeals court rejected Judge Engelmeyer’s claim that the plaintiffs did not prove JPMorgan made “uneconomic bids” in the silver forward’s markets.
  • New Discovery May Win the Case for against JPMorgan
Summary 
The New York 2nd U.S. Circuit Court of Appeals ruled yesterday that District Court Judge Engelmayer was in error when he dismissed the Silver price rigging lawsuits against JP Morgan. The appellate court felt that Engelmayer’s dismissal reasons amounted to “impermissible fact finding” and placed too high of a bar in concluding that plaintiffs had not adequately plead their case. 
This reversal of the June, 2016 dismissal means the case will go back to the district court for further litigation. This also means the plaintiffs will ask for and receive more discovery. This can win the case for them. - Market Slant

Saturday, February 4, 2017

Bill being introduced in Utah would open state up for using gold and silver as money while creating a state depository

On Jan. 27, legislators in the state of Utah introduced a bill that would not only recognize gold and silver as money, but would open the door for its use in both public and private commerce.

House Bill 224 (HB224) would encourage the use of gold and silver as legal tender, and set the stage for expansion of gold repositories in the state and authorize further study on several sound money policies.

A bill introduced in the Utah legislature would build on the state’s Legal Tender Act, creating a foundation for further action to encourage the use of gold and silver as money, and take another step toward breaking the Federal Reserve’s monopoly on money. 
Rep. Ken Ivory (R-West Jordan) introduced House Bill 224 (HB224) on Jan. 27. The legislation would add several provisions to state law designed to encourage the use of gold and silver as legal tender. Passage would set the stage for expansion of gold repositories in the state and authorize further study on several sound money policies. 
Specifically, HB224 would authorize the investment of public funds in specie legal tender held in a commercial specie repository. Under existing code, “specie legal tender” means gold or silver coin and bullion. “Commercial specie repository” means an institution that holds or receives deposits of specie legal tender that is located within the state. Practically speaking, passage would give the state the option to hold funds in gold and silver instead of Federal Reserve notes. - Tenth Amendment Center

Tuesday, January 31, 2017

Gold soars up $20 and dollar falls as President Trump brings Europe into the currency war

After spending the latter stages of his candidacy prior to the inauguration going after China's 'manipulation' of the Yuan, President Donald Trump has shifted gears and is now challenging Europe and their policies which he alleges are keeping the Euro undervalued, and affecting fair trade.

On Jan. 31 Peter Navarro, the top trade adviser and member of the Trump Administration, went directly after the heart of the EU's trade alliance by singling out Germany as the primary instigator in the continent's use of monetary devaluation policies to achieve unfair trade advantages.

The Trump administration just fired the first shot in the US-European currency, and thus trade, wars when Trump's top trade advisor Peter Navarro accused Germany of using a “grossly undervalued” euro to "exploit the US and its EU partners", the FT reported noting the comments are "likely to trigger alarm in Europe’s largest economy." News of the statement sent the EURUSD surging and the dollar tumbling to fresh 2 month lows. 
Navarro, the head of Mr Trump’s new National Trade Council, told the Financial Times the euro was like an “implicit Deutsche Mark” whose low valuation gave Germany an advantage over its main partners. While not necessarily novel - Germany has often been accused of being the biggest winner from a weak euro at the expense of peripherla Europe - his views suggest the new administration is focusing on currency as part of its hard-charging approach on trade ties, according to the FT. Furthermore, virtually assuring a deterioration in US-German relation, and in a departure from past US policy, Navarro also called Germany one of the main hurdles to a US trade deal with the EU and declared talks with the bloc over a Transatlantic Trade and Investment Partnership dead. - Zerohedge
In response to the allegations, gold and silver soared to their highest intra-day move of 2017 as the yellow metal climbed back over $1200 per ounce on an early move of over $20.

Live New York Gold Chart [Kitco Inc.]

Saturday, January 28, 2017

Make Money Great Again: Petition to have government cease taxation on purchases of gold and silver

Alasdair Macleod is a long time precious metal analyst, and relative of a former Chancellor of the Exchequer (equivalent of U.S. Treasury Secretary) in Britain.  And just a few days ago he created a petition for Donald Trump, the newly election U.S. President, to sign an executive order eliminating taxes on the purchase of physical gold and silver.

Calling the movement Make Money Great Again (MMGA), Macleod believes this is the first step in changing the environment for gold and silver to return to being real money from its current status simply as a commodity, and open the door for it to become a part of the monetary system once more as originally deigned in the Constitution.

Make Money Great Again: Vote for Gold
THE PETITION: MAKE MONEY GREAT AGAIN 
We The People request the new administration Make Money Great Again; that gold and silver may freely be used as money alongside United States dollars. 
The Constitution explicitly recognizes gold and silver as money. We therefore petition that:
  1. All tax discrimination against gold and silver must cease, including the removal of all capital gains tax on holdings of, and transactions in gold and silver, and;
  1. That all impediments to using gold and silver as constitutionally-recognized money be removed.
We Petition the Administration to sign this Executive Order to Make Money Great Again. - MMGA
Making money great again by eliminating taxes on gold and silver is already occurring at many state levels, including a recent bill being brought to the House floor in the coming days in the state of Virginia.  And as this movement continues to grow at the local level, it will put more pressure on the Federal government to re-institute gold and silver as part of our overall monetary system.

Monday, January 23, 2017

State of Virginia about to vote on bill calling gold and silver sound money, and remove taxes from its purchase

On Jan. 20, a House subcommittee in the state of Virginia passed a key component that will soon allow a bill to go to the floor for a vote on whether to consider gold and silver as money, and remove all taxation mechanisms on its purchase by individuals.

House Bill 1668 (HB1668) would facilitate the exemption of taxes on purchases of gold, silver, and platinum bullion if the price exceeds $1000.

A Virginia bill that would remove sales taxes from some purchases of gold and silver passed an important House subcommittee Wednesday. The legislation would take an important first step toward encouraging its regular use as currency and breaking the Federal Reserve’s monopoly on money. 
A bipartisan coalition of delegates sponsor House Bill 1668 (HB1668). The legislation would exempt gold, silver, or platinum bullion or legal tender coins whose sales price exceeds $1,000 from from state sales tax. Each piece of gold, silver, or platinum or legal tender coin need not exceed $1,000, provided that the sales price of one entire transaction of such pieces exceeds $1,000. ” 
Under the proposed law, the exemption would remain in place until June 30, 2022. 
A House Committee on Finance subcommittee approved the measure 10-0. - Tenth Amendment Center
By removing taxes on gold and silver purchases, the state of Virginia is opening the door for businesses, individuals, and even government agencies to accept and use gold at a future date as money.

Virginia also joins in the growing number of states (Oklahoma, Utah, and Texas) who are either creating state run gold depositories, or passing legislation that returns gold and silver to their rightful place as a monetary unit.

Tuesday, January 17, 2017

The threat of the U.S. banning cash is not over as it becomes a topic at the Davos Economic Forum

Just when Americans thought they might be out of the woods from their government seeking to ban cash, a Nobel-Laureate economist participating at this year's Davos World Economic Forum has proven that to be incorrect.  In fact, the topic of banning cash in the U.S. as well as elsewhere around the world is on the menu of this week's forum, and Joseph Stiglitz is the chef serving that main course.

Indian Prime Minister Narendra Modi has already removed 86% of his country's currency from circulation in an attempt to curb tax evasion, tackle corruption and shut down the shadow economy.
Should the US follow suit? 
Joseph Stiglitz, Nobel Prize-winning economist, thinks so. Phasing out currency and moving towards a digital economy would, over the long term, have “benefits that outweigh the cost,” the Columbia University professor said on day one of the World Economic Forum's Annual Meeting in Davos. 
Stiglitz was speaking in the session Ending Corruption alongside Mark Pieth from the Basel Institute of Governance and APCO Worldwide Founder and Executive Chairman Margery Kraus. Stiglitz and Pieth co-authored a report, Overcoming the Shadow Economy, in November last year. 
Quantifying the scale of the problem, Stiglitz said: “You can put it into the context of one of the big issues being discussed in Davos this year - the backlash against globalization, the darker side of globalization ... The lack of transparency in global financial markets, the secrecy havens that the Panama Papers exposed, just reinforced what we already knew ... There is a global framework for both corruption and tax evasion and tax avoidance. 
“The fact that you can hide ill-gotten gains so easily in these secrecy havens really provides incentives for people to engage in this activity as they can get the economic returns and then enjoy the benefits of those returns. If there were not these secrecy havens then the benefits from engaging in these kinds of illicit activity would be much diminished.” 
One of the countries that has not done enough to fight corruption is the US, Stiglitz went on to say, and one remedy could be to phase out cash and embrace digital currencies. - World Economic Forum
Stiglitz, like two other economists (Larry Summers and Ken Rogoff) who spent 2016 promoting the end of cash to protect the failures of the central banks, sees taking away the freedoms that physical money provides all individuals as the only alternative to allow the Fed to begin negative interest rates.  However, like with nearly all Keynesian economists running Western monetary systems today, they ignore the real culprits behind the use of cash in illegal activities, and refuse to call out the very banks they wish to protect from when they were tightly involved in money laundering, and helping fund terrorism and the drug war.

As we have seen in India, the European Union, and Venezuela these past few months, governments are not afraid to eliminate currencies or formulate policies meant to ban cash entirely from an economy.  And this leaves the only recourse for the common man to simply opt out of the system, and get their wealth into physical gold, silver, or bitcoin, and offshore as much of it as possible so that it is outside the hands of the financiers who want to take it from you.