Saturday, May 30, 2020

Keiser Report: Spiking Debt (E1207)

from RT:

In the second half, Max interviews author and investor, Harry Dent, who has had a house in Puerto Rico for 20 years but is just moving to the island now. They discuss debt and demographics.

What The Gold-Silver Ratio Says About The Future Silver Price

by Steve St. Angelo, SRSRocco Report:

While silver investment demand is totally off the radar, certain indicators, including the Gold-Silver ratio, suggest that interest in the poor man’s gold will likely increase significantly over the next few years. The rising interest in silver will also occur as the broader markets continue to meltdown towards more realistic valuations.

In my recent youtube video, Amazing Silver Setup & Stock Market Update, I had a few comments stating the selloff of silver and rise in the stock market suggested that my analysis was incorrect. I find this sort of short-term thinking quite interesting when I noted that the information in the video was presented to occur over the next 1-2 years. Furthermore, in looking at my Youtube analytics of that video, the average watch time was about 10 minutes. The video was 24 minutes long.

Treasury Admits It Lost $1.2 TRILLION in 2017

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by Mark Nestmann, The Burning Platform:

In 1971, President Richard Nixon told an ABC News reporter that he was “now a Keynesian in economics.”

Nixon’s statement was an acknowledgment that he agreed with the ideas of John Maynard Keynes. Keynes was an economist whose theories once underpinned the economies of every major country.

Nixon’s endorsement of Keynesian economics was shocking. To understand its impact at the time, consider how the world would react today if the leader of ISIS converted to Christianity. Or if the National Rifle Association endorsed a ban on semi-automatic weapons.

Doug Casey on the World’s First Government-Backed Cryptocurrency, Part 2

by Doug Casey, Casey Research:

Justin: Doug, you mentioned that China will likely be the first country to issue a gold-backed, government-regulated digital currency. Why do you say that?

Doug: They want to distance themselves from the U.S. dollar, which is the currency of their enemy, or at least their adversary. They want to make the yuan an alternative to the U.S. dollar for international settlement and commerce.

They’re already well on their way to doing this. They already have oil and gold exchanges in Shanghai, where those commodities are traded in yuan. Traders and governments who accept yuan can now easily convert them into real things. The logical next step is to launch a crypto yuan.

And it makes a lot of sense from their “one belt, one road” idea, too. They want to make it easy for governments, corporations, and individuals to use the yuan. About 65 countries, with over half the world’s population, will be tied together by the project. And they’ll be using the yuan, not the dollar.

Why Markets Should Continue to Rise This Year

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by Nomi Prins, Daily Reckoning:

A government shutdown was averted last Friday when President Trump signed a $1.3 trillion, 2,232-page omnibus bill. The deadline was midnight Friday and the bill came out late Wednesday.

No one really had the time to go through it, and that’s on purpose.

The fact that no one really knew what was in it — besides the drafting committees and the lobbyists who crammed it full of pork — speaks volumes about how the people’s business is conducted in our democracy.

Theoretically, we still live in a republic, but the question is: Who exactly represents whom in Washington?

TRADE WARS, PETROYUAN, DEBTS – $32,000 GOLD & $500 SILVER

by Egon Von Greyerz, Gold Switzerland:

Is this it? Is the bull market finished and the good times over? Well, they could very well be. We are looking at a world which is rotten to the core, a world which is built on debt which will never be repaid. And a debt which is artificially supporting $100s of trillions of assets and quadrillions if we include derivatives. The supposedly most powerful economy in the world (the US of course) is now so indebted that it needs to fight the whole world in all kinds of different wars for its survival, with the latest being a trade war.

GOLD FALLS $3.20 TO $1323.20 BUT SILVER ADVANCES BY 6 CENTS UP TO $16.33

by Harvey Organ, Harvey Organ Blog:

SILVER COMEX OPEN INTEREST RISES TO ABOVE 227,000 CONTRACTS OR ONLY 7000 CONTRACTS FROM ITS ALL TIME HIGH/CME REPORTS A HUGE EFP ISSUANCE FOR SILVER OF JUST UNDER 3,000 CONTRACTS; GOLD EFP ISSUANCE ONLY A TOUCH NORTH OF 2400 CONTRACTS/WILBUR ROSS CONFIRMS THAT THE USA WILL INITIATE TARIFFS AGAINST CHINA AND NO DOUBT THAT CHINA WILL RECIPROCATE/LIBOR RISES FOR THE 37TH CONSECUTIVE DAY AT 2.31/LIBOR OIS WIDENS INDICATING RISK TO THE FINANCIAL SYSTEM/USA REPORTS ZERO SPENDING GROWTH AND THAT WILL BE A DAMPER TO 1 ST QUARTER GDP/WAGE GROWTH ALSO VERY WEAK/INSPECTOR GENERAL OF THE USA TO INITIATE PROBE ON THE FISA ABUSES/MORE SWAMP STORIES FOR YOU TONIGHT

Rick Rule – The Coming Block Chain Gold Rush

by Kerry Lutz, Financial Survival Network:

Rick Rule and Sprott Global have been working on setting up a blockchain based gold platform. Now it’s finally a reality. Just Monday it was announced that the trading platform is operational. The large gold producer Goldcorp is a shareholder in the venture and has just delivered gold bars to the Royal Canadian Mint to be held for fractional sale. This seems like a natural progression of blockchain technology. It will lower the costs and inefficiencies of buying and selling gold. It is certain to take off soon. Then let’s see it spread to other commodity markets.

Click HERE to Listen

New ‘Currency’ In Decimated Socialist Venezuela Is The Machete – Children Joining Gangs In Desperate Attempt To Survive As Shortage-Plagued Dystopia Is A Foreboding Message To America

by Stefan Stanford, All News Pipeline:

In this heartbreaking new story over at SHTFPlan by Mac Slavo he reports that hungry children in the failed socialist nation of Venezuela have taken to joining gangs to fight other children with sticks, knives and machete’s with the prize of ‘survival’ on the line with the object of their fights something most Americans throw out in the garbage every day: scraps of food barely good enough to eat.

As Slavo reports, the children in one particular 15-member gang, whose youngest member is only 10 years old, work together to survive vicious fights for what they consider ‘quality garbage’ that is tossed away in the few ‘more affluent’ areas still remaining in Venezuela, also scoping out restaurants for whatever they might throw away in the shortage-plagued dystopia that should be seen as a warning to America of our possible future should we continue along the path we’re on.

What Is the Silver-Gold Ratio Telling Us About the State of the Global Economy?

by Peter Schiff, Schiff Gold:

Over the last several weeks, we’ve spotlighted a lot of data indicating the economy isn’t nearly as strong as the mainstream pundits keep telling us. We’ve focused on the collapsing retail sector. We’ve looked at household debt and US consumer stress. We’ve talked a lot about the US federal debt and its potential impact on the economy.

There’s another factor that indicates there may be some cracks in the global economy – the silver-gold ratio.

We’ve talked a lot about the silver-gold ratio as it relates directly to the silver market. In simplest terms, it indicates that silver is at a bargain price. The ratio currently stands at over 81 to 1. That means it takes 81 ounces of silver to buy an ounce of gold. Compare that with the historic average ratio which hovers around 16:1. The modern average over the last century is around 40:1. As Peter Schiff said in a video over the summer, “This is silver on sale.”