Thursday, August 22, 2019

The Weekly Perspective with David Morgan – David’s Take on the Markets

by Kerry Lutz, Financial Survival Network:

David Morgan‘s weekly perspective…

Today’s monetary system is based upon a lie. The lie is that you can get something for nothing, or perhaps more simply stated, wealth can be printed. History has shown throughout 5000 years that whenever a country has tried to maintain this illusion (lie), failure has been the result. You Can Continue To Grow Your Wealth Regardless Of The Changing Winds Of Politics, The Economy And The Financial Markets. Let me show you how…

Click HERE to Listen

SILVER MARKET: Indicators Setting Up For A Big Move

by Steve St. Angelo, SRSRocco Report:

If we look at certain indicators in the silver market, the price is setting up for a big move.  It seems as if mainstream investors are now becoming more worried about the stock and bond markets.  With almost $17 trillion in negative-yielding debt in the world, the notion that gold or silver doesn’t earn a yield is starting to look like a better deal than paying someone to own bonds.

Thus, the record increase in negative-yielding debt has push gold, in just the past few months, has been one of the catalysts to push gold above an important six-year resistance level. Furthermore, several articles have stated that gold has reached an all-time high in 73 currencies.  However, it will take some time for gold to reach a new high in the U.S. Dollar because the Fed has a monopoly on the world’s printing press.

Negative Rates, Gresham’s Law And A Parabolic Move In Gold

by Dave Kranzler, Investment Research Dynamics:

Thomas Gresham observed in the 1500’s that “bad money drives out good.”  The concept applied to gold and silver coins and the value of precious metals metals used in the coins relative to their face value.  Back then silver coins would be debased by replacing some of the silver content with base metals.  Of course, that practice of monetary debasement goes back to ancient Rome.

But the idea applies today in the sense that, as fiat currency continues to be devalued with money printing and artificially low interest rates, those paying attention will begin to convert cash savings into physical gold and silver and use the devalued fiat currency for transactions settlement. This is likely part of the reason the prices of gold and silver are at all-time highs in almost every fiat currency globally.

HSBC Runs into Buzzsaw in Hong Kong & China, its Home Market Generating 75% of its Profits

by Wolf Richter, Wolf Street:

HSBC’s pleas of innocence have won little sympathy in Beijing.

By Nick Corbishley, for WOLF STREET:

Global banking behemoth HSBC has found itself on the back foot in recent months in its most important market, Hong Kong and China. The unexpected departure of three senior executives within a week, including its CEO and the head of key China business, sparked a broad sell-off of its shares, which are down 13% in just three weeks.

American Capitalism Is Based On Plunder

by Paul Craig Roberts, Paul Craig Roberts:

American capitalism is based on plunder. With the continental USA plundered, American capitalism hoped to continue enriching itself by plundering Russia as it did under Yeltsin, carefully including the Russian “Atlanticist Integrationists” in the spoils in order to have support from the liberal, progressive forces in Russia for stripping Russia of its assets. But Putin more or less put a halt to the American/Israeli rape of Russia, although it still continues through the neoliberal economics that Harvard brainwashed into the Russian central bank and economics profession. Brainwashed Russian economists are the main reason Washington is able to punish a powerful country such as Russia with economic sanctions.

11 Reasons Why So Many Experts Believe That A U.S. Economic Crisis Is Imminent

by Michael Snyder, The Economic Collapse Blog:

The numbers are telling us that we have never been closer to the next recession than we are right now.  The storm clouds that were gathering on the horizon are now directly above us, and suddenly the mainstream media is filled with storiesabout when the next recession will begin and the effect that this may have on President Trump’s chances of winning in 2020.  In fact, there has been so much chatter about this that even President Trump is talking about it.  All over television, experts are breathlessly speculating about when the coming recession will begin, and they are dispensing lots of advice about how people should be preparing for it.

Epstein Created $577 Million Trust Days Before His Death

from ZeroHedge:

Two days before his untimely death in a Manhattan jail, Jeffrey Epstein signed a will listing over $577 million in assets – around $18 million more than stated weeks ago in court filings.

The assets were transferred to a trust as of August 8, ensuring that the details of how his fortune will be distributed are kept private.

Epstein listed his brother Mark as the lone heir and his longtime lawyer Darren Indyke and close friend Richard Kahn as executors, according to the New York Post, which obtained a copy of the will and trust filed in the US Virgin Islands.

Your “Cash” Is Currency…. My “Cash” Is Gold And Silver.

by David Schectman, Miles Franklin:

J.P. Morgan Private Bank published an interesting investment-strategy note in July. It was titled “Is the dollar’s “exorbitant privilege” coming to an end?” It explored the US dollar’s longstanding status as the world’s dominant reserve currency, which is waning. The conclusion reached was “we believe the dollar could lose its status as the world’s dominant currency (which could see it depreciate over the medium term) due to structural reasons as well as cyclical impediments.” – Adam Hamilton

MORE PROTESTS THIS WEEKEND IN HONG KONG

by Harvey Organ, Harvey Organ Blog:

JACKSON HOLE MEETING THIS FRIDAY AND THUS A REASON TO WHACK THE PRECIOUS METALS: GOLD DOWN $11.20 TO $1502.00//SILVER DOWN 21 CENTS TO $16.96//MORE PROTESTS THIS WEEKEND IN HONG KONG//INVESTORS ARE TAKING THEIR CASH OUT OF HONG KONG//CASS FREIGHT INDEX DOWN FOR 8TH STRAIGHT MONTH//IRANIAN OIL CARGO SHIP SET FREE IN GIBRALTAR//MORE EPSTEIN STORIES FOR YOU TONIGHT AS WELL AS OTHER SWAMP STORIES