Sunday, October 20, 2019

Countries Continue to Stockpile Gold

by Tom Lewis, Gold Telegraph:

China has increased its gold reserves by buying an additional 16 tons of the metal in May. With a trade war between the U.S. and China a real possibility, China is divesting itself of the U.S. dollar in favor of physical gold. China has been buying gold since the beginning of the year. According to Helen Lau of Argonaut Securities (Asia) Ltd., China is expected to purchase a total of 150 tons of gold by year-end.

This may explain why the London Bullion Market Association will be holding its annual meeting in Shenzhen, China this year.

One-Two Trade War and Fed Policy Punch May Trigger Correction

from Birch Gold Group:

Maybe you’ve seen this scenario before: A boxer gets back up after violently being knocked down, only to get knocked out shortly after.

At the end of last year the Dow Jones suffered a severe correction from October 3 to December 24 (see both red arrows below):

After recovering, the Dow now seems to be struggling to “stay up” since the end of April. Could this mean we are headed towards another major correction?

China Calls For “People’s War” Against The US, Vows To “Fight For A New World”

from ZeroHedge:

While market mood has shifted diametrically from yesterday, with stocks sharply higher on Tuesday following what has widely been interpreted as conciliatory comments from both president Trump and various members of China’s ruling elite, one would be hard pressed to find any de-escalation amid the Chinese press commentaries written in the aftermath of the latest escalation in trade war between the US and China.

In a series of editorials and op-ed articles published Monday and Tuesday, Chinese state media slammed what it labeled the Trump administration’s “greed and arrogance“, called for a “people’s war” targeting the US “with precision” as China begins a “fight for a new world.”

Ahead of The Fed – Craig Hemke (18/03/2019)

by Craig Hemke, Sprott Money:

This week brings another FOMC meeting, with discussions of interest rates, balance sheets, and the economy. How will this impact the precious metals?

While most of the media attention this week will be on Chairman Powell and what he states during his press conference on Wednesday, it will be vital to remember the long game as you watch gold and silver prices fluctuate with every Powell utterance.

The Precious Metals Market

by Hugo Salinas Price, Plata:

The prices of the precious metals – gold and silver – are under strict control by the syndicate of the International Bankers. (Incidentally, I speak of the real power exercised by the International Bankers, in a rather long article on my website, I do hope you will read it! Mr. Trump is finding out, from Jay Powell of the Federal Reserve, that the real power in this world is in the hands of the International Bankers.)

The time when it was necessary to prove the existence of this control, was over long ago. Today it is an unquestioned fact. However, most analysts of the precious metals market continue to bury their heads in the sand of falsity, for various personal reasons. Thus, they only comment on “market behavior”.

Uh Oh: The Number Of Job Openings In The U.S. Dropped By More Than Half A Million In Just One Month

by Michael Snyder, The Economic Collapse Blog:

According to the Labor Department, the number of job openings in the United States just plunged by the largest amount we have seen in nearly four years.  The latest JOLTS report shows that the number of job openings has declined by 538,000, and that is a really big number for just a single month.  But we shouldn’t be surprised by this at all, because it is perfectly consistent with all of the other dismal economic numbers that have been coming in recently.  An economic slowdown is here, and many believe that it is just getting started.

Here’s a lesson from the 108,000 millionaires who left their home countries last year

by Simon Black, Sovereign Man:

According to a recent report from Bloomberg, more than 108,000 millionaires left their home countries last year in search of greener pastures.

Most emigrated from countries like China and Russia… no surprise there.

India also saw a large outflow of millionaires as tax authorities tightened their grip. And Turkey continues to see an exodus, in the wake of strong-man President Erdogan.

But Western countries like France and England also lost boat loads (or planes full) of millionaires. Excessive taxation is the most obvious reason.

Peter Schiff: More Fed Heroin for the Addicts on Wall Street

by Peter Schiff, Schiff Gold:

Last week was a good one for the stock market. Peter Schiff raised an important question in his latest podcast: why?

Answer: it’s all about the Fed.

Everybody is giddy because they think the central bank is going to save the day once again. In this podcast, Peter explains why they are wrong.

Libra: Facebook’s Crypto Trojan Rabbit

by Tom Luongo, Tom Luongo:

Cryptocurrencies are winning. If you need proof look no further than Facebook’s proposed Libra stablecoin. While the details are scant, the salient point is Libra is another attempt by the current banking establishment to slow the flow into the world of hard money.

In this respect Libra is no different than Ripple or dollar-settled Bitcoin futures contracts. These are products designed to slow the exodus out of the shadow banking system. Ripple is a way to lower foreign exchange fees and off-chain futures settlement is a way to control Bitcoin prices and exacerbate volatility to slow crypto-adoption by so-called normies.