from Silver Doctors:
by Peter Schiff, Schiff Gold:
Last week, Independent Strategy head David Roche said gold could hit $2,000by the end of the year. And Rosche isn’t the only big name in the investment world who sees a shiny future for the yellow metal. Mark Mobius recently said he thinks gold could push above $1,500 as central banks move interest rates lower, engage in more QE, and as geopolitical uncertainty continues to ramp up.
“I love gold,” Mobius said.
He also offered a bit of investment advice, saying gold should make up at least 10% of every investment portfolio — something Peter Schiff has been advising for a long time.
by Steve H Hanke, Market Oracle:
Art Laffer, the supply-side guru and recent recipient of the Presidential Medal of Freedom has caused yet another stir among the chattering classes. Last week, he told John Catsimatidis on AM 970 New York that “The Fed shouldn’t be independent of the administration. Never should be. None of those people were elected. They were appointed.” He repeated those sentiments on CNBC’s “Squawk Box” this morning.
What would my good friend Milton Friedman say? Well, unfortunately, we don’t know for certain because Milton is no longer with us. That said, Nobelist Friedman weighed in on the issue of central bank independence on several occasions. Indeed, an essay he penned in 1962 was titled “Should there be an Independent Monetary Authority?” His essay appeared in In Search of a Monetary Constitution, which was published by Harvard University Press and was edited by my collaborator, the late Leland B. Yeager. Friedman was unambiguous. He concluded that “The case against a fully independent central bank is strong indeed.”
The bill titled ‘Keep Big Tech Out of Finance Act’ seeks to prohibit any tech company with annual global revenue of more than $25 billion from issuing their own cryptocurrency. The draft explicitly bans “large platform utilities from being a financial institution or being affiliated with a person that is a financial institution.” Any entity that violates the provisions of the bill could be subject to a daily fine of up to $1mn.
by Dave Kranzler, Investment Research Dynamics:
“I don’t think it’s any coincidence that gold runs from $1285 to as high as $1445 around the time that all the news about Deutsche Bank started coming out” [the failure to merge with Commerzbank followed by the “good bank / bad bank” split announcement].
Deutsche Bank is being prevented from collapsing by the German Government, the Bundesbank and the ECB. That’s been implicitly acknowledged over the last few years that this is case. The attempt to wash Deutsche Bank’s problems through a merger with Commerzbank failed. In 2008/2009, Bear Stearns’ and Wash Mutual’s sins were cleansed through bankruptcy court and through JP Morgan. In the same way, Merrill Lynch’s disastrous balance sheet was cleansed through Bank of America.
by Luis Miguel, The New American:
Trafficking … blackmail … cover-up? Was Jeffrey Epstein an intelligence asset for the Deep State?
Jeffrey Epstein is only the tip of the iceberg.
The financier and sex offender who was arrested on July 13 on sex trafficking charges may have links to the intelligence community, according to a journalist who has documented abuse allegations against Epstein since 2002.