Friday, June 5, 2020

Are You Seeing These Footprints In The Gold Market?

by Chris Marcus, Miles Franklin:

Back in 2008 and 2009 many investors lost a lot of money when they were caught off guard by the collapse of the subprime market. Most of them, and possibly even yourself wish they had been able to spot the signs in advance and position their investments differently. But while you may not be able to do that, what if you were able to see the next big market move in advance?

Fortunately if that sounds like something you would be interested in, then you’ll want to keep reading. Because the signs of where the gold market is headed are there for those who choose to look. As just a month after Hungary decided they wanted their gold back, now Turkey is the latest nation to decide that they don’t trust the western banking system to safely hold their gold.

HUGE VOLATILITY ON THE MARKETS TODAY WITH A SWING IN THE DOW OF OVER 500 POINTS

by Harvey Organ, Harvey Organ Blog:

DOW RESCUED IN LAST 90 SECONDS/GOLD UP $7.05 TO $1312.10/SILVER UP ANOTHER 7 CENTS TO $16.43/A MONSTROUS 17,000 EFP CONTRACTS ISSUED FOR GOLD FOR THIS MORNING/AND MORE SWAMP STORIES FOR YOU TONIGHT

GOLD: $1312.10 UP $ 7.05 (COMEX TO COMEX CLOSINGS)

Silver: $16.43 UP 7 CENTS (COMEX TO COMEX CLOSINGS)

US Treasury Sets First Quarter Borrowing Record

by Peter Schiff, Schiff Gold:

The US government has hit borrowing levels not seen since the peak of the financial crisis.

The US Treasury’s net borrowing totaled $488 billion from January through March, according to a statement released Monday. That was $47 billion more than the department’s estimate. It was also a record for first quarter borrowing, according to Bloomberg.

With the Trump tax cuts coming online and spending increases passed by Congress, the rate of borrowing has ramped up significantly. And a Bloomberg report noted the US will need to issue even more Treasuries as the fiscal picture deteriorates.

Russia Continues Embrace of Crypto-Currencies – Develops ICO Guidelines

from Russia Insider:

Russia’s Ministry of Telecom and Mass Communications (MinComSvyaz) has prepared guidelines for issuing digital tokens, commonly known as Initial Coin Offerings (ICOs).

Russia appears to be readying regulations of blockchain technology and Initial Coin Offerings, refraining from an outright ban, as the world’s biggest country by territory looks to benefit from the surging popularity of ICOs.

What’s more, Russia is positioning its national currency, the Ruble, to play an integral part in the ICO process.

Dr. Charles Nenner – $2500 Gold

by Kerry Lutz, Financial Survival Network:

Yes, you read that right. Just when all the metals bugs are about to give up, Dr. Charles Nenner is calling for record precious metals prices. He says the rally will start at the end of the summer going into Q3. The price target is 2 years out. He doesn’t currently have a silver price target, but will get back to us shortly once the cycles confirm. He believes that the USD is also heading higher once again and Treasuries will be a good place to be. Oil prices are headed for another major decline. Let’s see what happens next! Check out his twitter feed @NennerResearch.

Click HERE to Listen

Analyst: Skyrocketing Debt Cannot Be Supported By Money Printing Forever

by Mac Slavo, SHTF Plan:

Something is eventually going to have to give. The United State’s debt which has shot up over $21 trillion dollars cannot be sustained by printing money forever, says a financial analyst.

According to TeleTradeBel analyst Mikhail Grachev, the US debt, supported by the printing of dollars could be coming to an end. “From 2009 to 2014. The Fed was actively buying Treasuries as part of a quantitative easing policy (QE). After the QE was scrapped, the Fed continued to purchase the securities, only in smaller quantities. American legal entities and individuals have always been the third major buyer of debt. The growth of debt and the volume of issuance of securities was possible due to the continuous flow of liquidity from the Fed at zero interest rate. It has also supported the unrestrained growth of the American stock market,” Grachev told RT.

As Iran Drops the Dollar, US Court Orders Them to Pay $6B to Victims of 9/11—Despite No Evidence

by Matt Agorist, Activist Post:

On Tuesday, a federal judge in New York ordered Iran to pay $6 billion to victims of the 9/11 terror attacks. This ruling comes despite the fact that none of the hijackers were Iranian citizens, and despite the fact that no direct link was ever found between the 9/11 attacks and Iran.

The court found Iran, the country’s central bank, and the Islamic Revolutionary Guard Corps liable for the deaths of more than 1,000 people in the September 11 attacks. District Judge George Daniels ordered Iran to pay “$12,500,000 per spouse, $8,500,000 per parent, $8,500,000 per child, and $4,250,000 per sibling” to the families and estates of the deceased, court filings say.

How, exactly, the court came to this decision remains a mystery. A total of 15 of the 9/11 perpetrators were citizens of Saudi Arabia, while two were from the United Arab Emirates, one was from Egypt, and one was from Lebanon. Exactly zero of them were from Iran.

They Should Know: Fed Says Bitcoin “Like Regular Currency” (Which Isn’t Really A Good Thing)

by David Morris, via Silver Doctors:

The Federal Reserve Bank of St. Louis has provided some high-profile validation for a core premise of Bitcoin and other cryptocurrency. A blog post this week based on an earlier Fed research paper said that “bitcoin units have no intrinsic value” – but added that currencies “such as the U.S. dollar, the euro, and the Swiss france . . . have no intrinsic value either.”

The post, titled “Three Ways Bitcoin is Like Regular Currency,” doesn’t precisely endorse Bitcoin or cryptocurrency. In another recent report, the St. Louis Fed was critical of Bitcoin’s inefficiency. Cryptocurrency has also become rife with scams since its surge in value last year, and may constitute a global risk because it enables clandestine money laundering, capital flight, and tax evasion.

DOW DOWN 172 POINTS AND NASDAQ DOWN 29 POINTS AS MARKETS CONFUSED WITH FED GIBBERISH: THEY STATE THAT INFLATION MAY RUN ABOVE THEIR TARGET

by Harvey Organ, Harvey Organ Blog:

ALSO STATE THAT THE ECONOMY IS NOT DOING AS WELL AS THEY WOULD LIKE/GOLD DOWN $1.15 BUT SILVER IS UP 24 CENTS /A HUGE DEPOSIT OF 6.082 MILLION OZ OF SILVER LANDS INTO THE SLV: INVENTORY NOW AT 322.981 MILLION OZ/GOLD AT $1305.05/SILVER; 16.36/USA ESCALATES THE TRADE WAR WITH CHINA/MORE SWAMP STORIES FOR YOU TONIGHT