Tuesday, September 29, 2020

Market Report: Gold Still Underwritten At $1300

by Alasdair Macleod, GoldMoney:

Gold and silver refuse to sink below their established lower consolidation levels, despite dollar strength. As can be seen in our headline chart, silver has enjoyed a decent bounce since 1 May, and gold has held firm at $1300, up 5% from the December low. Since last Friday, gold is up $8 in early European trade this morning (Friday) at $1323, having spiked down to as low as $1304 on Wednesday. Over the same time-scale, silver is up 23 cents on balance at $16.75.

Regarding Italy’s Proposed Parallel Currency: What If It Was Backed By Gold?

by Mish Shedlock, The Maven:

A Five Star/Lega deal is taking shape in Italy. The platform includes a parallel currency. Why not back it with gold?

As noted earlier today, a Five Star / Lega Coalition is in the works in Italy.

The parties are eurosceptic to varying degrees. Part of their platform includes a Parallel Currency.

An “Audible Gasp” Was Heard When The Chicago Fed Unveiled Its “Solution” To The Pension Problem

from ZeroHedge:

An audible gasp went out in the breakout room I was in at last month’s pension event cosponsored by The Civic Federation and the Federal Reserve Bank of Chicago. That was when a speaker from the Chicago Fed proposed levying, across the state and in addition to current property taxes, a special property assessment they estimate would be about 1% of actual property value each year for 30 years.

The Fed Has Robbed the Future

by Brian Maher, Daily Reckoning:

Has the future finally arrived?

The Federal Reserve intervened massively to cage the menace of depression after the 2008 financial crisis.

Quantitative easing, zero interest rates and the rest of the central banker’s emergency kit came to bear.

The heroics “worked.”

The crisis has passed. And the economy is presently in its 108th month of recovery.


by Richard Enos, Collective Evolution:

The website endthefed.org introduces us to the Federal Reserve as follows:

The Federal Reserve, “the Fed”, is the central bank of the United States of America that was created in 1913 by Congress. It is a banking cartel that has a government-granted monopoly on the creation of money and credit. The Fed literally loans “money” (Federal Reserve Notes) into existence. Federal Reserve Notes are paper promises backed by nothing of intrinsic value and they are only functioning as money because the government forces them on the public through legal tender laws. Federal Reserve Notes are referred to as dollars but are not. The definition of a dollar is a weight of silver (371 grains). To put it simply, the Fed is a group of banks running a national counterfeiting operation with the protection of the government.

More Shoes ‘to Drop’ Because the DOJ’s Hiding ‘Embarrassing Information’

by Kathryn Blackhurst, Lifezette:

Judicial Watch chief says Jim Comey went ‘beyond the pale’ in coordinating congressional testimony with FBI, special counsel

There will be “a fourth or a third or a fifth shoe to drop” as the Department of Justice (DOJ) keeps slow-walking the turnover of requested documents to Congress because “there’s embarrassing information at issue here,” Judicial Watch President Tom Fitton predicted Thursday on Fox News’ “The Ingraham Angle.”