Saturday, October 31, 2020

LBMA DEFAULTS ON ITS GOLD DELIVERY: ANDREW MAGUIRE EXPLAINS THIS LBMA FIASCO ON A MUST VIEW VIDEO

by Harvey Organ, Harvey Organ Blog:

LBMA DEFAULTS ON ITS GOLD DELIVERY: ANDREW MAGUIRE EXPLAINS THIS LBMA FIASCO ON A MUST VIEW VIDEO//GOLD//HUGE SPREAD BETWEEN LONDON SPOT AND FUTURE PRICES: LONDON SPOT GOLD CLOSES UP $37.30 TO $1687.30//SILVER UP 60 CENTS TO $15.50//ALMOST 88 TONNES OF GOLD STANDING AT THE GOLD COMEX//FED INITIATES ANOTHER 2.3 TRILLION DOLLAR LOAN TO HEDGE FUNDS AS THE EX. FOR PHYSICALS BLEW UP//SCARY! MANY RECOVERED PATIENTS OF THE CORONAVIRUS SHOWING NO ANTIBODIES..AND RE INFECTIONS ARE APPEARING//CORONAVIRUS UPDATES FROM AROUND THE GLOBE//UK NOW INITIATES DIRECT FUNDING OF DEFICITS//OIL DEAL MADE BUT NOT ENOUGH//OIL FALLS/IN THE USA 6.6 MILLION MORE SOULS GO ON UNEMPLOYMENT

A SMALL CHANGE IN SILVER INVENTORY AT THE SLV

by Harvey Organ, Harvey Organ Blog:

GOLD HOLDS IT OWN RISING BY ONE DOLLAR TO $14.20//SILVER IS UP 4 CENTS TO $16.42//A HUGE CHANGE IN GOLD INVENTORY AT THE GLD: A DEPOSIT OF 6.75 PAPER TONNES INTO THE GLD INVENTORY////A SMALL CHANGE IN SILVER INVENTORY AT THE SLV: A PAPER WITHDRAWAL OF 468,000 OZ////BEIJING WARNS HONG KONG AGAIN AFTER MASSIVE PROTESTS//BORIS JOHNSON THROWS DOWN THE GAUNTLET: THERE WILL BE NO IRISH BACKSTOP AND THE UK WILL LEAVE BY OCT 31/2016//ANDREW MAGUIRE MEETS UK OFFICIALS, UK REGULATORY OFFICIALS AND B. OF ENGLAND PEOPLE WARNING THEM OF THE HUGE RISK TO THE BANKING SYSTEM WITH THE MONSTROUS USE EFP’S

MEXICO ORDERS ALL MINES SHUT AND THAT MEANS THE USA CANNOT GET ANY SILVER

by Harvey Organ, Harvey Organ Blog:

LONDON SPOT GOLD UP $31.80 TO $1612.50//FUTURES//JUNE 1631.00///SILVER UP 65 CENTS TO $14.50// FUTURES: $14.62//MEXICO ORDERS ALL MINES SHUT AND THAT MEANS THE USA CANNOT GET ANY SILVER//DTCC SHUT DOWN IN MARCH: WHO ON EARTH ARE CLEARING?//PERTH MINT ANNOUNCES ALL GOLD SOLD OUT//CORONAVIRUS UPDATE FROM USA, SPAIN, ITALY, ISRAEL//USA REPORTS A HUGE 6.7 MILLION FOLKS APPLIED FOR UNEMPLOYMENT INSURANCE: TOTAL FOR THE LAST 2 WEEKS: 10 MILLION//OTHER THAN THAT EVERYTHING IS OK!!???

It’s Not the Destination, It’s the Journey

by Gary Christianson, Miles Franklin:

From Ralph Waldo Emerson: “It’s not the destination, it’s the journey.”

His insight applies in life, investing, analysis, the S&P 500 Index, gold, silver and others. Consider these examples.

You have $10 million to invest in a business and are searching for a manager. CEO #1 and CEO #2 have both amassed a personal fortune over $100 million. Which one do you choose?

CEO #1 built three companies over the past 30 years and grew revenues and profits most years. S/he built a loyal customer base and stockholder equity.

Silver and the Deep State

by Gary Christenson, Deviant Investor:

The “Deep State” has been a high-profile topic for several years. Opinions are divided and strong. Those who benefit from the Deep State power and influence support the Deep State and fight against its opposition. Others think it’s the cause of much that is wrong in the world.

Rather than wade into the debate, consider the wit and wisdom of Bill Bonner regarding the Deep State.

We saw last week how the epic battle for the soul and future of America is over. The Deep State won.”

Yes Virginia the Golden Bull is Back with Rick Rule

by Kerry Lutz, Financial Survival Network:

When it comes to understanding resources and resource stocks, Rick Rule truly has few peers. He’s been in the game for over 4 decades and has profited accordingly. He’s pretty certain that this new gold/resource bull market is for real. While it’s encouraging that the noble metals (Platinum, Palladium & Rhodium) have been going like gangbusters, Rick says it’s separate from what’s going on in gold and silver. There’s great opportunities out there for willing knowledgeable investors. The time is now.

Click HERE to Listen

Eight centuries of interest rates

by JP Koning, BullionStar:

Peter Schiff has called negative interest rates an absurdity, Kevin Muir thinks they are an abomination, and ex-Credit Suisse CEO Oswald Gruebel thinks they are crazy. But is today’s negative interest rate environment really so strange?

To understand the present, it always helps to step back and get the bigger picture. Which is why I want to spotlight a recent paper that mines through historical documents for 800 years worth of interest rate data.

In case you’ve missed it, many parts of the world are characterized by negative real interest rates. Investors in 5-year German bonds currently earn -0.6% per year in interest. That’s right. Investors must pay the government for the right to hold a bond for five years.

The Treasury Department is in desperate need of a sucker

by Simon Black, Sovereign Man:

Ten years ago, at the peak of the global financial crisis, the Board of Trustees which oversees Social Security in the United States issued a stark warning:

They projected that Social Security’s enormous trust funds would completely run out of money in 2039.

Naturally nobody paid attention. Back in 2009 the economy in shambles, so focusing on a future economic crisis that was more than three decades away was a low priority.

And for the past decade, the US government has continued to ignore its Social Security problem.

Using Koch Money, Cato Institute Has Led the Drumbeat to Denigrate and Privatize the U.S. Postal Service

by Pam Martens and Russ Martens, Wall St On Parade:

The first thing you need to know about the right-wing Cato Institute is that it quietly began its life as the Charles Koch Foundation in 1974. The name was changed to the Cato Institute in 1977 according to the restated articles of incorporation. For decades, the Cato Institute enjoyed a taxpayer subsidy as a nonprofit while being secretly owned by a handful of men, two of whom were the fossil fuel billionaire brothers, Charles and David Koch – libertarians with a radical agenda. (David Koch died in August of last year.)

REPO PROBLEMS STILL EXIST ON FIRST DAY OF Q4 AS 55 BILLION DOLLARS IS TAKEN UP

by Harvey Organ, Harvey Organ Blog:

REPO PROBLEMS STILL EXIST ON FIRST DAY OF Q4 AS 55 BILLION DOLLARS IS TAKEN UP//WORSE MFG DATA IN 10 YRS AND BOTH OF THESE DATA POINTS SENDS THE DOW DOWN 343 POINTS//GOLD DOES AN OUTSIDE REVERSAL TO THE UPSIDE GAINING $15.25 TO $1482.65/SILVER ADVANCES 30 CENTS TO $17.28//QUEUE JUMPING ON BOTH GOLD AND SILVER ON DAY 2 OF THE DELIVERY CYCLE//YESTERDAY WITH SILVER DOWN 58 CENTS NOBODY LEAVES THE SILVER ARENA AND FEW LEAVE THE GOLD ARENA//HONG KONG WITNESSES MORE PROTESTS ON THE 70TH ANNIVERSARY OF COMMUNIST RULE//EU SIGNALS THAT IT MAY GIVE A TIME LIMIT ON THE IRISH BACKSTOP