Sunday, June 16, 2019

Top Primary Silver Miners Average Yield Falls To Record Low

by Steve St. Angelo, SRSRocco Report:

The top primary silver miners in the world saw their production yield fall to the lowest level ever in 2018.  Since 2005, the average yield from the top silver miners has fallen nearly in half.  And along with rising oil prices, has pushed up the total cost to produce silver by an additional $10 an ounce.  So, for those who still believe in the fantasy that it cost $5 an ounce to produce silver, that data shows otherwise.

It’s Coming And It’s Going to SUCK

by Karl Denninger, Market Ticker:

Those who believe there will never be another recession are flat-out insane.

The business cycle has never been repealed.  Every person who has predicted that someone has “conquered” it over the decades has been wrong.

Let me repeat that for emphasis: EVERY PERSON who has made such a prediction or claim through the last roughly 100 years HAS BEEN NOT ONLY WRONG THEY’VE BEEN DISASTROUSLY WRONG.

It won’t be different this time around.

GOLD MAGINOT LINE BROKEN – TIME TO BUY INSURANCE

by Egon Von Greyerz, Gold Switzerland:

The breakout in gold and silver that we have been patiently waiting for is now starting. The long term up move in the precious metals, which have been pausing since 2011, is now resuming. We can with confidence expect all the short term resistance levels to be broken. The first obstacle was the Gold Maginot Line at $1,350. As I have said for quite some while, this 6 year resistance was always guaranteed to break. It has already been broken in most currencies, so gold in dollars was never going to hold out for much longer. And today it happened in Asia and Europe with gold reaching $1,358.

Market Report: Gold trying to break out…

by Alasdair Macleod, GoldMoney:

Gold performed strongly this week, rising $15 from last Friday’s close to trade at $1355 in European morning trade today. Gold’s strong performance is dragging a seemingly reluctant silver up from mid-week lows for a net gain of only a cent or two on the week at $15.03.

Silver appears to have been left badly behind, as the next chart of the Managed Money category on Comex shows.

BANKERS REPEL GOLD AND SILVER’S ATTEMPT TO BREAK THROUGH HUGE RESISTANCE OF $1350 GOLD AND $15.00 SILVER

by Harvey Organ, Harvey Organ Blog:

…FEAR NOT FOR DAY TWO’S ATTEMPT WILL COMMENCE MONDAY MORNING AND EVENTUALLY WE WILL PIERCE THEIR HUGE RESISTANCE AND IN SO DOING BLOW UP THEIR DERIVATIVE BOOK/GOLD ADVANCES BY ONLY $1,10 AFTER BEING UP BY ALMOST 16 DOLLARS IN THE MORNING//SILVER IS DOWN 9 CENTS//TRUMP BLAMES IRAN FOR THE 2 TANKER HITS IN THE GULF//LUONGO’S COMMENTARY ON SHALE OIL/GAS PRODUCTION//RIOTING IN MEMPHIS TENNESSEE/SWAMP STORIES FOR YOU TONIGHT

Keiser Report: Zero Rates Coming? (E1396)

from RT:

In the second half, Max interviews Mish Shedlock of MishTalk.com about his new parody song, “Bubbles B. Goode,” in reference to the new Fed chairman, Jerome Powell, promising to cut rates to keep the good times rolling. They discuss rate cuts and what this portends for the future.

EU and Russia Reportedly Agree to Ditch Greenback in Bilateral Transactions

from Sputnik News:

The decision comes a few days after Russian President Vladimir Putin slammed the US dollar as a tool of pressure while speaking at the St. Petersburg International Economic Forum (SPIEF).

Russian Finance Minister Anton Siluanov and Maros Sefcovic, vice-president of the European Commission for the Energy Union, have agreed to set up a working group that will deal with a transition to using the rouble and euro in bilateral payments, Russian media outlets reported, citing Siluanov’s spokesman, Andrei Lavrov.

For those who don’t understand inflation

by Alasdair Macleod, GoldMoney:

This article is a wake-up call for those who do not understand the true purpose of monetary inflation, and do not realise they are the suckers being robbed by monetary policy. With the world facing a deepening recession, monetary inflation will accelerate again. It is time for everyone to recognise the consequences.

Introduction

All this year I have been warning in a series of Goldmoney Insight articles that the turn of the credit cycle and the rise of American protectionism was the same combination that led to the Wall Street crash in 1929-32 and the depression that both accompanied and followed it. Those who follow statistics are now seeing the depressing evidence that history is rhyming, though they have yet to connect the dots. Understandably, their own experience is more relevant to them than the empirical evidence in history books.