Tuesday, September 29, 2020

Charles Nenner Flips! GOLD Is Headed MUCH LOWER (Spoiler Alert: Price Could Crash To $850)

from Silver Doctors:

The cycles expert said a month ago that gold was headed much higher, but now, Charles says gold is headed much, much lower. Here are the details…

Charles Nenner told Greg Hunter barely a month ago that gold was setting-up to really move higher in price.

Here are some excerpts from that interview:

Don’t worry about the recent weakness in gold and silver because renowned financial cycle expert Charles Nenner thinks they both will rise in price soon, but not until after a bit more pain for holders of precious metals. Nenner says, “Gold is going to enter a new bull market. The first cycle will bottom after the summer. $1,212 per ounce is our downside target. If it hangs around there and it’s after the summer, we will probably give it a buy signal. If that breaks, we will come up with a new low price target, but it definitely will enter a new bull market. Gold is in a bull market even though it came down from $1,900 per ounce. . . . It’s going to pick up anyway in a couple of months, but is it going to be from $1,212 or a lower price target?”

The World Is Ganging up Against the Dollar

by Jim Rickards, Daily Reckoning:

The U.S. has been highly successful at pursuing financial warfare, including sanctions. But for every action, there is an equal and opposite reaction.

As the U.S. wields the dollar weapon more frequently, the rest of the world works harder to shun the dollar completely.

I’ve been warning for years about efforts of nations like Russia and China to escape what they call “dollar hegemony” and create a new financial system that does not depend on the dollar and helps them get out from under dollar-based economic sanctions.

These efforts are only increasing.

WILL YOU BE READY THE DAY THE DOLLAR DIES? — Bob Kudla

from SGTreport:

“There will be disruptions and dislocations”, the end of the dollar will come, the only question is, will you be ready when it does, says Trade Genius founder Bob Kudla. Kudla says that once the Dollar is bypassed “we will see gold skyrocketing and the stock market crashing.” It’s time to get yourself prepared.

Keiser Report: Hyperbitcoinization (E1272)

from RT:

In the second half, Max interviews Tone Vays about why he taunts the ‘when lambo?’ crowd with his pessimistic price forecasts for bitcoin. They also discuss futures markets and institutional money in crypto.

Here’s How We Ended Up with Predatory, Parasitic Elites

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by Charles Hugh Smith, Of Two Minds:

Combine financialization, neoliberalism and moral bankruptcy, and you end up with predatory, parasitic elites.

How did our financial and political elites become predatory parasites? Some will answer that elites have always been predatory parasites; as tempting as it may be to offer a blanket denunciation of elites, this overlooks the eras in which elites rose to meet existential crises.

Following in Ancient Rome’s Footsteps: Moral Decay, Rising Wealth Inequality(September 30, 2015)

As historian Peter Turchin explained in his book War and Peace and War: The Rise and Fall of Empires, the value of sacrifice was a core characteristic of the early Republic’s elite:

10 Incredible Photos From Venezuela Show The Severe Risks Of Currency Devaluation

by Mark O’Byrne, GoldCore:

– Paper currency in Venezuela is now worth less than toilet paper

– Incredible Reuters photos highlight the disaster that can become of fiat (both paper & digital) currency devaluations

– 2,600,000 paper or electronic bolivars for one roll of toilet paper

– 14,000,000 bolivars for one chicken highlights the disastrous decline in the standard of living in the socialist dictatorship

The Most Splendid Housing Bubbles in America

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by Wolf Richter, Wolf Street:

New York condo prices fell again. Historic spikes slow in Seattle and other metros.

On a national basis, home prices surged 6.2% in June compared to June last year (not seasonally-adjusted), and 0.8% from May, according to the S&P CoreLogic Case-Shiller National Home Price Index released this morning. The index is now 11% above the July 2006 peak of “Housing Bubble 1” — the first housing bubble in this millennium. After its collapse, it was called a “bubble” and “unsustainable.” But by now, this peak of the collapsed bubble has been transformed into the new-normal rock-solid base of the current housing market. The index is now 53% above the bottom of “Housing Bust 1”:

Shut Down Mueller! Our Economic Future Is At Stake

by Harley Schlanger, LaRouche PAC:

For the London-led coup plotters against Donald Trump’s presidency, another bubble of triumph has popped; former White House special attorney and Hillary Clinton’s close friend Lanny Davis has retracted and publicly apologized for his claims that former Trump lawyer Michael Cohen could tell investigators about “Russian collusion” by Trump. As the Washington Post admitted today, Davis’s claims “dominated United States news for days,” but were false. The President’s level of approval among American voters appears to have been unaffected by last week’s convictions of former associates, on hyped-up charges completely unrelated to any mythical “collusion” with Russia.

China’s Building-Boom Hits A Wall As Shadow-Banking System Collapses

from ZeroHedge:

Beijing wants to shore up growth without inundating the economy with cheap credit.

But, as WSJ’s Walter Russell Mead pointed out previously, it’s not easy…

Chinese leaders know that their country suffers from massive over-investment in construction and manufacturing, that its real-estate market is a bubble that makes the Dutch tulip frenzy look restrained, that both conventional debt and debt in the shadow-banking system are too large and growing too rapidly.

GOLD DOWN ONLY $1.60 TO $1208.10 AT COMEX CLOSING TIME AND SILVER IS DOWN 5 CENTS BUT IN THE ACCESS MARKET

by Harvey Organ, Harvey Organ Blog:

GOLD IS DOWN ANOTHER 8 DOLLARS TO 1200.00 DOLLARS PER OZ AND SILVER IS DOWN ANOTHER 16 CENTS TO $14.69 AS THE CROOKS LAUNCHED ANOTHER RAID/IRAN ANNOUNCES THAT THEY HAVE CONTROL OVER THE STRAIT OF HORMUZ: HOWEVER TRAFFIC IS NORMAL AND NO INTERRUPTIONS YET/WE NOW HAVE THE “GENESIS” OF THE PHONY RUSSIAN COLLUSION SCHEME INFILTRATING THE USA ELECTION SCHEME..A MUST READ BY SARA CARTER