Sunday, June 16, 2019

Waiting For The Black Swan

by Chris Martenson, Peak Prosperity:

War with Iran would be the beginning of the end

Two more tankers were attacked near the Strait of Hormuz on Thursday morning  (6/13/19) in the Gulf of Oman, and if hostilities advance we could be facing a ‘black swan’ event. One that changes everything, and divides the world into ‘before’ and ‘after’ periods.

A lot of us are waiting for ‘something’ to happen. We know that there are too many unsustainable trends and practices running and we fall into the “let’s just rip the Band-Aid off” camp.   Some, like myself, have lost faith in the political leadership and institutions and doubt they retain any capacity to attend to anything more than their own selfish interests, let alone manage the difficult tasks ahead rooted as they are in systems theory and managing complexity.

Why Junk Silver? – Bill Holter

by Bill Holter, JS Mineset:

By now you should already know the story behind the gold/silver ratio and why silver is the compelling buy of the two. The ratio is currently about 82-1 (it takes 82 ounces of silver to purchase one ounce of gold). Silver is found in the Earth’s crust at roughly 10-1 versus gold, let’s call this “God’s ratio”. Were the ratio to reach 10-1, silver would thus outperform gold roughly 8 fold. 10-1 may or may not be a stretch but suffice it to say that silver should certainly outperform gold in the coming bull market. Let’s call this anomaly #1,

If you understand the above then you understand you should be more heavily weighted in silver versus gold. But what “form” of silver should you own? Your choices are ETF’s or pooled accounts (a very poor choice as the metal may not even exist and all you own is a worthless piece of paper), bars, generic rounds, foreign sovereign mint coins, or US mint lineage coins.

Top Primary Silver Miners Average Yield Falls To Record Low

by Steve St. Angelo, SRSRocco Report:

The top primary silver miners in the world saw their production yield fall to the lowest level ever in 2018.  Since 2005, the average yield from the top silver miners has fallen nearly in half.  And along with rising oil prices, has pushed up the total cost to produce silver by an additional $10 an ounce.  So, for those who still believe in the fantasy that it cost $5 an ounce to produce silver, that data shows otherwise.

It’s Coming And It’s Going to SUCK

by Karl Denninger, Market Ticker:

Those who believe there will never be another recession are flat-out insane.

The business cycle has never been repealed.  Every person who has predicted that someone has “conquered” it over the decades has been wrong.

Let me repeat that for emphasis: EVERY PERSON who has made such a prediction or claim through the last roughly 100 years HAS BEEN NOT ONLY WRONG THEY’VE BEEN DISASTROUSLY WRONG.

It won’t be different this time around.

GOLD MAGINOT LINE BROKEN – TIME TO BUY INSURANCE

by Egon Von Greyerz, Gold Switzerland:

The breakout in gold and silver that we have been patiently waiting for is now starting. The long term up move in the precious metals, which have been pausing since 2011, is now resuming. We can with confidence expect all the short term resistance levels to be broken. The first obstacle was the Gold Maginot Line at $1,350. As I have said for quite some while, this 6 year resistance was always guaranteed to break. It has already been broken in most currencies, so gold in dollars was never going to hold out for much longer. And today it happened in Asia and Europe with gold reaching $1,358.

Market Report: Gold trying to break out…

by Alasdair Macleod, GoldMoney:

Gold performed strongly this week, rising $15 from last Friday’s close to trade at $1355 in European morning trade today. Gold’s strong performance is dragging a seemingly reluctant silver up from mid-week lows for a net gain of only a cent or two on the week at $15.03.

Silver appears to have been left badly behind, as the next chart of the Managed Money category on Comex shows.

BANKERS REPEL GOLD AND SILVER’S ATTEMPT TO BREAK THROUGH HUGE RESISTANCE OF $1350 GOLD AND $15.00 SILVER

by Harvey Organ, Harvey Organ Blog:

…FEAR NOT FOR DAY TWO’S ATTEMPT WILL COMMENCE MONDAY MORNING AND EVENTUALLY WE WILL PIERCE THEIR HUGE RESISTANCE AND IN SO DOING BLOW UP THEIR DERIVATIVE BOOK/GOLD ADVANCES BY ONLY $1,10 AFTER BEING UP BY ALMOST 16 DOLLARS IN THE MORNING//SILVER IS DOWN 9 CENTS//TRUMP BLAMES IRAN FOR THE 2 TANKER HITS IN THE GULF//LUONGO’S COMMENTARY ON SHALE OIL/GAS PRODUCTION//RIOTING IN MEMPHIS TENNESSEE/SWAMP STORIES FOR YOU TONIGHT

Keiser Report: Zero Rates Coming? (E1396)

from RT:

In the second half, Max interviews Mish Shedlock of MishTalk.com about his new parody song, “Bubbles B. Goode,” in reference to the new Fed chairman, Jerome Powell, promising to cut rates to keep the good times rolling. They discuss rate cuts and what this portends for the future.

EU and Russia Reportedly Agree to Ditch Greenback in Bilateral Transactions

from Sputnik News:

The decision comes a few days after Russian President Vladimir Putin slammed the US dollar as a tool of pressure while speaking at the St. Petersburg International Economic Forum (SPIEF).

Russian Finance Minister Anton Siluanov and Maros Sefcovic, vice-president of the European Commission for the Energy Union, have agreed to set up a working group that will deal with a transition to using the rouble and euro in bilateral payments, Russian media outlets reported, citing Siluanov’s spokesman, Andrei Lavrov.