from Silver Doctors:
Gold has breached $2,080, and silver just tagged $29. Here’s why….
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UPDATE: THURSDAY AFTERNOON, 3:30 PMish (EST), AUGUST 6TH, 2020
(by Half Dollar) Gold & silver continue in their spectacular rallies, especially silver.
Yes, silver’s technicals on the daily chart are screaming ‘extreme’:
by Dennis Miller, The Burning Platform:
I’ve had it with the virus panic, riots, looting, property destruction and grandstanding politicians. A poor guy in Minneapolis tried to pass $20 in funny money and ended up dead. His $20 is pale in comparison to the trillions in funny money authorized by congress and created by the Fed to bail out a corrupt banking system.
| “The Federal Reserve is a referee who has taken a bribe, a butcher who thumbs the scales, a rogue, a traitor to justice.”– Brian Maher |
Since the Glass-Steagall act was repealed on November 12, 1999, taxpayers have bailed out the major banks twice while these corrupt institutions steal much of the wealth of the nation. Never satisfied, the major banks continue to resort to crime and racketeering. The Fed and congress are accessories to the crime.
by Wolf Richter, Wolf Street:
The Fed is funding consumption circuitously via Treasuries and government stimulus spending, shifting impact from asset prices to consumer prices.
Total assets on the Fed’s balance sheet for the week ended August 5, released this afternoon, declined by $4 billion from the prior week, to $6.945 trillion. In the week ended June 10, total assets eked to a peak of $7.17 trillion. In the eight weeks then, they have fallen by $224 billion:
by Clint Siegner, Money Metals:
The dramatic ascent of precious metals markets this summer reflects what could be just the start of a longer-term decline and fall in the Federal Reserve Note’s value and status.
With gold prices surpassing $2,000/oz recently, the monetary metal has now made new all-time highs versus all the world’s major fiat currencies. Gold is, as former Federal Reserve chairman Alan Greenspan has acknowledged, the “ultimate money.”
The Fed, by contrast, is the ultimate inflator.
by Pam Martens and Russ Martens, Wall St On Parade:
At Fed Chairman Jerome Powell’s press conference on July 29, he persisted in his explanation that all of the Fed’s bailout programs are really about helping the American people get back on their feet. Here’s one more, among a growing mountain, of reasons to question that.
Sri Lanka is an island country situated in the Indian Ocean and located about 9,000 miles from the United States. Its population of approximately 21 million ranks it the size of the state of Florida. Despite those statistics, Sri Lanka somehow became the main participant in an emergency lending facility set up by the Fed.
by Michael Snyder, The Economic Collapse Blog:
You may have noticed that a lot of people get offended by what I write. It is not something that I am purposely setting out to do, and I actually endeavor to get along with everyone as much as I can. But it is undeniable that my articles about our ongoing economic collapse directly contradict a lot of the narratives that are constantly being pushed by the mainstream media and many of our political, business and religious leaders. There are so many people out there that want to believe that the future is going to be exceedingly bright, and even though 2020 has been a horrific economic catastrophe so far, there are a lot of optimists that believe that it is just a temporary blip on the road to tremendous prosperity.
by Steve St. Angelo, SRSRocco Report:
As the SILVER BULL MARKET continues on its ever-increasing upward trend, what does the 50-year long-term silver chart reveal?? Let’s just say, some of the indicators are pointing to much higher prices. And, if we include the lousy economic and financial fundamentals being propped up by massive Fed and central bank stimulus, it seems like there will be even more investor demand for gold and silver in the future.
Last night during Asian trading on my SRSrocco Report Twitter Feed, I posted this intra-day silver chart showing that it was getting ready to BREAKOUT through a new Ascending Triangle Formation. Just like in several Ascending Triangle formations this past month, it did exactly what I anticipated.
from Sputnik News:
The German carrier has been severely hit by the pandemic, with media suggesting it might declare bankruptcy several months ago. In June, however, the European Commission approved a move by the German government to bail out the company for 6 billion euros amid the crisis.
The German flagship airline Lufthansa on Thursday stated it had recorded second-quarter losses of 1.5 billion euros (around $1.5 billion), as the travel industry continues to suffer from the coronavirus restrictions.
According to the company, its sales slumped by 80 percent, compared to the same period the previous year, reaching only 1.9 billion euros.
by Peter Schiff, Schiff Gold:
Most people remain blissfully ignorant of the economic wounds inflicted on the US economy by the government-imposed economic shutdowns in response to the coronavirus. But every once in a while, the curtain blows back and we catch a glimpse of the damage.
For example, a report released last week by global advisory firm Stout, Risius and Ross estimated that Americans currently owe more than $21.5 billion in past-due rent.
A federally imposed eviction ban that shielded about one-third of renters living in buildings with federally backed mortgages recently lapsed and the $600 weekly federal unemployment benefit expired last Friday. One analyst told Reuters that without more government help, we could see “a staggering surge in homelessness, unlike anything we have seen.”
