Sunday, December 8, 2019

The Time to Buy Gold Is Now

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by Justin Spittler, Casey Research:

It finally happened.

On Monday, the price of gold topped $1,300 for the first time since November.

But gold didn’t just inch past $1,300. It blew past it.

Just look at the chart below. You can see that gold jumped from $1,298 to $1,315—a 1.3{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} gain.

Since Monday, gold has held steadily above $1,300.

This is a big deal, and not just because $1,300 is a big round number.

• Gold tried to top $1,300 three other times this year…

It failed each time it got close. Just look at this chart.

You can clearly see that $1,300 acted as a key resistance level. It prevented gold from rallying.

But it won’t anymore. That ceiling has been breached.

This is a major victory for gold bulls. But it’s not the only reason to like gold.

• A perfect storm has hit the gold market…

North Korea is launching missiles at Japan.

Donald Trump is threatening to shut down the government to pay for the wall.

And Hurricane Harvey has rocked Houston, America’s fourth largest city. Some estimates say the storm did more than $100 billion in damage. Now, the federal government will likely shell out billions of dollars in aid, and that means sinking deeper and deeper into debt.

Long story short: investors have plenty to be nervous about right now. And that’s good for gold.

You see, gold has survived every financial crisis imaginable. It’s the ultimate safe-haven asset. This is why every investor should own a little gold. (We recommend having 10-15{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of your money in gold at all times.)

But here’s the thing. Not everyone owns gold as a chaos hedge. Some people buy it for quick profits. They trade it.

And Monday’s big breakout could be the buy signal that many traders have been waiting on.

That’s because $1,300 was a key psychological level. It was keeping a lot of investors from buying gold.

But that resistance has been broken. And that means a lot of people who were on the fence about gold could become new buyers.

Read More @ CaseyResearch.com

A Decade of Central Bank Collusion and Counting

by Nomi Prins, Daily Reckoning:

Since late 2007, the Federal Reserve has embarked on grand-scale collusion with other G-7 central banks to manufacture a massive amount of money. The scope and degree of this collusion are historically unprecedented and by admission of the perpetrators, unconventional in approach, and – depending on the speech – ineffective.

Central bank efforts to provide liquidity to the private banking system have been delivered amidst a plethora of grandiose phrases like “unlimited” and “by all means necessary.” Central bankers have played a game with no defined goalposts, no clock rundown, no max scores, and no true end in sight.

At the Fed’s instigation, central bankers built policy on the fly. Their science experiment morphed into something even Dr. Frankenstein couldn’t have imagined. Confidence in the Fed and the U.S. dollar (as well as in other major central banks globally) has dropped considerably, even as this exercise remains in motion, and even though central bankers have tactiltly admitted that their money creation scheme was largely a bust, though not in any one official statement.

Cracks in the Facade

On July 31, 2017, Stanley Fischer, vice chairman of the Fed, delivered a speech in Rio de Janeiro, Brazil. There, he addressed the phenomenon of low interest rates worldwide.

Fischer admitted that “the effects of quantitative easing in the United States and abroad” are suppressing rates. He also said there was “a heightened demand for safe assets affecting yields on advanced-economy government securities.” (Actually, there’s been heighted demand for junky assets, as well, which has manifested in a bi-polarity of saver vs. speculator preference.) What Fischer meant was that investors are realizing that low rates since 2008 haven’t fueled real growth, just asset bubbles.

Remember, Fischer is the Fed’s No. 2 man. He was also a professor to former Fed Chair Ben Bernanke and current European Central Bank President Mario Draghi. Both have considered him to be a major influence in their economic outlook.

The “Big Three” central banks — the Fed, the European Central Bank and the Bank of Japan — have collectively held rates at a zero percent on average since the global financial crisis began. For nearly a decade, central banks have been batting about tens of trillions of dollars to do so.

They have fueled bubbles. They have amassed assets on their books worth nearly $14 trillion. That’s money not serving any productive, real-economy purpose – because it happens to be in lock-down.

In his speech, Fischer channeled Bernanke, Yellen and other major central bank leaders who, having been so enthusiastic about the possibilities, later intimated that low rates and massive asset buying and/or holding programs alone aren’t enough to stimulate economic growth. Which begs the question, why they’ve continued for so long.

As this policy was propagated by the Fed, Fischer essentially admitted that the Fed caused low interest rates globally while failing to achieve the growth it promised.

With a decade of failed policy experiments behind us, why should we have faith that the Fed — or any other central bank — has any clue about what to do next? The answer is simple. We shouldn’t.

As Fischer went on to tell the Financial Times on August 15, 2017:

“It took almost 80 years after 1930 to have another financial crisis that could have been of that magnitude. And now after 10 years everybody wants to go back to a status quo before the great financial crisis. And I find that really, extremely dangerous and extremely shortsighted. One can understand the political dynamics of this but one cannot understand why grown, intelligent people reach the conclusion that [you should] get rid of all the things you have put in place in the last 10 years.”

In other words, why should we hope that a 10-year global “solution” to instill long-term financial stability and economic growth, even as it’s been repeatedly touted as such, should do what central bankers said it will? The answer again is, we shouldn’t.

The Central Bank Winners and Losers

Since the global financial crisis, the biggest G7 winners have been the Big Six US banks that profited from access to cheap money. They benefitted from central bank purchases of their securities that exaggerated the value of the remaining securities on their books. They used “printed” or electronically crafted money to stockpile cash and fund buybacks of their own shares and pay themselves dividends on those shares. By producing and distributing artificial money, central bankers distorted reality in global markets. Multi-national banks were co-conspirators in that maneuver.

After the Big Six banks passed their latest round of stress tests, they began buying even more of their own shares back. The move elevated their stock prices further. The largest U.S. bank, JP Morgan Chase, announced its most ambitious program to buy back its own shares since the 2008 crisis, $19.4 billion worth. Citigroup followed suit with a $15.6 billion buy-bank plan.

The Fed’s all-clear was just another version of quantitative easing (QE) for banks. Instead of buying bonds via QE programs, the Fed greenlighted banks to further speculate in their own stocks, creating more artificiality in the level of the stock market. In all, US banks have disclosed plans to buy back $92.8 billion of their own stock to say thank you to the Fed for the “A.” That was piling on to their existing trend; according to S&P Dow Jones Indices, “Stock repurchases by financial companies in the S&P 500 rose 10.2{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in the first quarter [of 2017] and accounted for 22.2{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of all buybacks.”

More ominous than that was another clear sign that a decade of money-conjuring collusion helped the same banks that caused the last crisis. Proof came in the form of a letter to the U.S. Senate banking committee from Thomas Hoenig, the vice-chairman of the U.S. Federal Deposit Insurance Corp. (FDIC), the government agency in charge of guaranteeing people’s deposits. He wrote that in 2017, U.S. banks used 99{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of their netearnings toward purchases of their own stock and paying dividends to shareholders (including themselves).

They thus legally manipulated markets in plain sight by pushing their own share prices up with cheap money availed to them by the central bank that is supposed to regulate them.

As of this year, global debt levels stood at 325{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} GDP, or about $217 trillion. The $14 trillion of assets the G-3 central banks held on their books is equivalent to a staggering 17{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of all global GDP. The European Central Bank (ECB), Bank of Japan (BOJ) and Bank of England are still buying collectively $200 billion worth of assets per month.

In the wake of that buying, noncash instruments — crypto currencies and hard assets like gold, unrelated to the main G-7 monetary system — have become increasingly attractive on the fear that in another major downturn or crisis, central banks and private banks will retract cash and liquidity from their customers.

In that likely event, banks will protect themselves and turn to governments and central banks again. In the absence of some sort of outside central bank benchmark, like a modern gold standard or use of currency basket benchmarks like the IMF’s Special Drawing Rights (SDR), currency wars will continue to be fought.

With rates hovering between zero and negative in some countries, there would be little to no room to maneuver in the face of another crisis. Thus — another thing has become increasingly clear: Central bankers have demonstrated gross negligence regarding the consequences of their monetarily omnipotent actions.

If rates were to rise higher in the US (and I don’t think we’re in for more than another 25 basis points, this year which is under last year’s Fed forecast) so would the cost of servicing that debt. That would hurt companies domestically and abroad, iinduce more defaults and a rush by the banks involved in derivatives associated with that debt to concoct more toxic assets. The vicious cycle of central bank bailouts would reverberate again.

Savers and pensioners are getting close to no interest on their nest eggs. Depositors are paying banks to house their money through fees that offset negligible interest. Small businesses have to jump through hoops to get loans for expansion purposes. Wages are stagnant. Ultimately, big banks had played the system — and us — again, this time with central banks helping to fund them. The threat of an even larger collapse looms as stock markets and global debt have been propelled higher.

As we approach the ninth anniversary of the collapse of one of my former employers, Lehman Brothers, and the 10th anniversary of the beginning of central bank collusion into the financial crisis, there has been – no change – in global G7 central bank monetary policy.

Jackson Hole offered a different spin on the same old verbiage, indicating that a bit of nipping here, means a lot of tucking somewhere else. Janet Yellen took what could be her last hoorah to craft her legacy as potential Fed Chair nominee and current Trump National Economic Council Director, Gary Cohn, awaits his possible turn. And if it’s not him, it’ll remain her, or someone else that will perpetuate more of the same policies.

Read More @ DailyReckoning.com

Fearing Contagion, Russia Bails Out Bondholders in its Biggest Bank Collapse Yet

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by Wolf Richter, Wolf Street:

“The panicky mood has been dampened down,” as other banks are rumored to be teetering.

True to the playbook of bank bailouts, the Central Bank of Russia (CBR) decided to bail out Bank Otkritie Financial Corporation, the largest privately owned bank in the country, and the seventh largest bank behind six state-owned banks.

The Central Bank put in an undisclosed amount of money in return for at least a 75{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} stake. This is likely to be Russia’s biggest bank bailout ever, well ahead of the current record holder, the $6.7 billion bailout of the Bank of Moscow in 2011.

Otkritie and its businesses would operate as usual, the Central Bank said. The banks obligations to creditors and bondholders, which include other Russian banks, would be honored to avoid contagion.

The controlling shareholder of Otkritie bank is Otkritie Holding, with a 65{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} stake. The bank had grown by wild acquisitions, grabbing other banks, insurers, non-pension funds, and the diamond business of Russia’s second largest oil producer Lukoil. Otkritie Holding is owned by executives of Lukoil, state-owned VTB bank, Otkritie, and other companies. So clearly, this bank is too big to fail.

Lukoil is also one of Otkritie’s largest clients. So Lukoil CEO Vagit Alekperov said in a statement that he saw no risks for Lukoil associated with the bail out, and that Lukoil supported the Central Bank’s decision.

In July, according to Reuters, Kremlin-backed rating agency ACRA downgraded Otkritie to a BBB- rating, citing the “low quality of its loan portfolio.”

On August 17, Moody’s placed Otkritie on review for possible downgrade, citing two big issues:

  1. “The recent elevated volatility of the bank’s customer deposits, which puts pressure on its liquidity position and negatively affects its funding costs”
  2. The bank’s “increased involvement in financing the large financial and industrial assets of its controlling shareholder Otkritie Holding.”

Since 2013, the Central Bank, which is also the banking regulator, has shut down over 300 Russian banks, trying to clean up the banking sector. In July, it revoked the banking licence of Yugra (or Jugra) Bank, stating that it had falsified its accounts.

On August 18, Fitch Ratings warned about Russian banks in general and about Otkritie in particular:

A flight to quality triggered by depositors’ concerns following the withdrawal of Jugra Bank’s licence could intensify as the clean-up of Russia’s banking sector continues, Fitch Ratings says. This would put some weaker privately owned banks’ liquidity at risk.

The clean-up is likely to highlight further problem banks, adding to concerns about weak solvency positions at certain private lenders and uncertainty about how the Central Bank of Russia (CBR) may address these issues.

Otkritie, B&N Bank, Promsvyazbank and Credit Bank of Moscow (CBOM, BB-/Stable) are among the banks that have been subject to Russian media speculation in recent weeks, regarding the liquidity position of some and the potential knock-on effect on others.

The run on deposits was in full swing, and the bank was in collapse mode. In June and July, according to Moody’s, Otkritie’s depositors yanked out 435 billion rubles ($7.4 billion), or 18{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of the bank’s total liabilities. According to the Central Bank, between July 3 and August 24, corporate clients yanked out 389 billion rubles, and retail clients yanked out 139 billion. Where were they putting their rubles? State-owned banks and precious metals? In early July, the gold price started taking off.

Reuters notes that ruble liquidity “in the Russian interbank market rose unexpectedly this month as the banking sector started borrowing more from the central bank, seen as a symptom of deteriorating trust in the interbank lending market.”

The Central Bank’s first deputy chairman, Dmitry Tulin, told reporters that Otkritie’s expansion “was financed via borrowing and key risks were taken. The bank’s operations are connected to high risks and need to be seriously changed.”

The CBR will now assess Otkritie’s loan loss provisions and capital, which could take three months. If the capital is “deemed to be in the red,” as Reuters put it, Otkritie shareholders would lose all their ownership rights.

On paper the bank didn’t looked too bad. For 2016, it had a non-performing loan ratio of 7.5{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} and Tier 1 capital of 12.3{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} under Russian accounting standards. This is above the CBR’s requirements. But that’s on paper. And in reality?

“The capital disclosed in (the previous) reports seems to have been significantly higher than in reality,” Tulin said. “At a certain point, the bank owners realized they couldn’t solve the issue with capital on their own and turned to the central bank with a proposal to start discussing financial rehabilitation measures.”

“Everyone is breathing a sigh of relief,” Maxim Ryabov, a trader with Russian brokerage BCS, told the Irish Times. “The panicky mood has been dampened down.”

But “the overall situation and the central bank’s action raises questions about the quality of the central bank’s supervision of one of Russia’s largest systemically important lenders,” lamented Dmitry Polevoy, chief economist at ING Bank in Moscow.

Read More @ WolfStreet.com

GOLD FALLS BY $5.00 DOWN TO $1308.50/SILVER DOWN ONLY ONE CENT

by Harvey Organ, Harvey Organ Blog:

GLD ADDS ANOTHER 2.08 TONNES OF GOLD/GIANT CHEMICAL FACTORY READY TO EXPLODE IN CROSBY TEXAS/HURRICANE HARVEY MAKES A 2ND RUN AT LANDFALL TRAVELLING UP LOUISIANA

GOLD: $1308.50  DOWN $5.00

Silver: $17.44  DOWN 1 CENT(S)

Closing access prices:

Gold $1309.00

silver: $17.43

SHANGHAI GOLD FIX:  FIRST FIX  10 15 PM EST  (2:15 SHANGHAI LOCAL TIME)

SECOND FIX:  2:15 AM EST  (6:15 SHANGHAI LOCAL TIME)

SHANGHAI FIRST GOLD FIX: $1318.53 DOLLARS PER OZ

NY PRICE OF GOLD AT EXACT SAME TIME:  $1312.35

PREMIUM FIRST FIX:  $6.17

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SECOND SHANGHAI GOLD FIX: $1312.31

NY GOLD PRICE AT THE EXACT SAME TIME: $1307.95

Premium of Shanghai 2nd fix/NY:$4.36

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LONDON FIRST GOLD FIX:  5:30 am est  $1310.60

NY PRICING AT THE EXACT SAME TIME: $1310.80

LONDON SECOND GOLD FIX  10 AM: $1308.50

NY PRICING AT THE EXACT SAME TIME. 1307.00  ???

For comex gold:

AUGUST/

NOTICES FILINGS TODAY FOR APRIL CONTRACT MONTH: 444 NOTICE(S) FOR  44,400  OZ.

TOTAL NOTICES SO FAR: 5245 FOR 524,500 OZ  (16.314 TONNES)

For silver:

AUGUST

 

 1 NOTICES FILED TODAY FOR

 

5,000  OZ/

Total number of notices filed so far this month: 1249 for 6,245,000 oz

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

 

end

As I expected, the criminal bankers tried their best to keep gold and silver from rising so as to pocket underwritten options.  However they did not succeed in lowering the price of gold to $1300.00 and $17.25 silver where the bulk of options were underwritten. London based gold/silver options have an expiry tomorrow morning at around 10 -11 am.  After that we should see our precious metals rise.

 

 

Let us have a look at the data for today

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In silver, the total open interest FELL BY AN APPRECIABLE 7235 contracts from 188,145 DOWN TO 182,823 DESPITE THE NO GAIN IN PRICE THAT SILVER UNDERTOOK WITH  YESTERDAY’S TRADING (UP 0 CENTS).HOWEVER WHEN YOU COMPARE WITH THE INCREASE IN GOLD OI YOU CAN BE COMFORTED THAT THE BANKS ARE STILL QUITE RETICENT TO SUPPLY ANY PAPER. NO DOUBT THAT WE LOST SOME SEPT. COMEX SILVER LONGS TO SEPT. EFP’S (IN EXCESS OF 7300 EFP’S). HOWEVER THE CONTRACTION IN OPEN INTEREST IS CERTAINLY NOT AS GREAT AS GOLD ONCE WE HIT FIRST DAY NOTICE (OR THE DAY BEFORE) OF AN ACTIVE DELIVERY MONTH. AS SOON AS SILVER BROKE RESISTANCE AT $17.25 AND THUS THE NEW SUPPORT LEVEL, NEWBIE LONGS POURED ON THE JUICE WITH RECKLESS ABANDON AS THEY ENTERED THE SILVER ARENA.  SEPT PLAYERS MOVED TO EFP’S BUT THE OBLIGATION TO DELIVER STILL RESTS WITH THEM BUT ON A DIFFERENT EXCHANGE (AND THEY RECEIVED A FIAT REWARD FOR THEIR EFFORT).  THE LOSS IN OI TO EFP’S WAS GREATER THAN NEWBIE SPEC LONGS ENTERING THE SILVER ARENA. 

RESULT: A HIGH DROP IN OI COMEX (OPPOSITE TO GOLD) WITH A ZERO PRICE INCREASE AND A FAIR SIZED GAIN IN SEPT EFP’S DELIVERABLE SILVER i.e.LONDON FORWARDS

 In ounces, the OI is still represented by just UNDER 1 BILLION oz i.e.  0.917 BILLION TO BE EXACT or 131{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 1 NOTICE(S) FOR 5,000OZ OF SILVER

In gold, the open interest ROSE BY  1372 CONTRACTS WITH THE  RISE  in price of gold ($3.95 GAIN YESTERDAY). The new OI for the gold complex rests at 538,875.

AS IN SILVER, THE GEOPOLITICAL LANDSCAPE WITH TRUMP THREATENING TO CLOSE GOVERNMENT IF HE DID NOT GET HIS WALL , THE DOVISH SPEECHES BY BOTH DRAGHI AND YELLEN ON FRIDAY AT JACKSON HOLE, THE HOUSTON FLOODING & NORTH KOREA FIRING MORE MISSILES CAUSED A HUGE NUMBER OF NEWBIE SPECS TO AGAIN ENTER THE GOLD ARENA WITH THE COMMERCIALS SUPPLYING THE NECESSARY PAPER LIKE DRUNKEN SAILORS. ONCE 1300 DOLLAR GOLD WAS PIERCED, MORE NEWBIE LONGS CAME EMBOLDENED CONTINUING THEIR QUEST OF TAKING ON THE BANKERS WHO RECIPROCATED IN KIND WITH THE PAPER. SOME OLD SPECS LEFT FOR A PROFIT WITH THE GOOD SIZED RISE IN PRICE. YESTERDAY AFTERNOON GOLD WAS HIT IN THE ACCESS MARKET TO WHICH IT RECOVERED BY 2 AM.  THE BANKERS WHACKED AGAIN AND TRUE TO FORM GOLD RECOVERED IN PRICE AGAIN BY 7 AM TO WHICH ANOTHER RAID WAS INITIATED ALL TO CAUSE UNDERWRITTEN OPTION CONTRACTS TO EXPIRE WORTHLESS.  THE BANKS ARE CROOKS AND RECEIVE HELP FROM OUR REGULATORS.

Result: A FAIR SIZED GAIN IN OI WITH THE RISE IN PRICE IN GOLD AND RESISTANCE/NEW SUPPORT LEVELS HOLDING AT $1300 GOLD.

we had: 444 notice(s) filed upon for 44,400 oz of gold.

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With respect to our two criminal funds, the GLD and the SLV:

GLD:

Tonight , we had another big  change in gold inventory: a deposit of 2.07 tonnes into the GLD inventory.  I doubt very much if this is physical gold/probably a paper gold entry:

Inventory rests tonight: 816.43 tonnes

IN THE LAST 33 TRADING DAYS: GLD SHEDS 20.54 TONNES YET GOLD IS HIGHER BY $76.25 .

SLV

Today:  WE HAD NO CHANGES IN SILVER INVENTORY TONIGHT:

INVENTORY RESTS AT 333.178 MILLION OZ

 

end

.

First, here is an outline of what will be discussed tonight:

1. Today, we had the open interest in silver FELL BY 7235 contracts from 188,145 DOWN TO 182,823 (AND now A LITTLE FURTHER FROM THE NEW COMEX RECORD SET ON FRIDAY/APRIL 21/2017 AT 234,787) WITH YESTERDAY’S 0 CENT GAIN IN TRADING. SILVER RESPONDED TO 1) THE GEOPOLITICAL CLIMATE WHEREBY TRUMP THREATENED TO SHUT DOWN GOVERNMENT UNLESS HE GOT HIS WALL , 2) THE TWO DOVISH SPEECHES BY YELLEN 3) NORTH KOREA FIRING MORE MISSILES,4) THE HOUSTON FLOODING AND 5 THE PIERCING OF THE HUGE RESISTANCE LEVEL OF $17.25 WHICH NOW BECOMES THE NEW SUPPORT LEVEL. WE NO DOUBT HAD IN EXCESS OF 7300 LONG SEPT. SILVER PLAYERS TENDERING THEIR LONGS FOR SEPT. EFP’S (BUT THAT OBLIGATION STILL RESTS WITH THE BANKERS BUT ON A DIFFERENT EXCHANGE LONDON). NEWBIE LONGS ENTERED THE ARENA WHEN THEY SAW ANOTHER FAILED RAID ATTEMPT. HOWEVER THE GAIN IN NEWBIE LONGS WAS FAR LESS THAN THOSE PAPER PLAYERS EXITING FOR EFP’S. THE BANKERS CONTINUE TO BE RETICENT IN SUPPLYING THE SHORT PAPER. ANOTHER RAID WAS ORCHESTRATED TO CAUSE UNDERWRITTEN OPTIONS CONTRACTS TO EXPIRE WORTHLESS.

RESULT:  A LOWER OI AT THE COMEX, IN CONTRAST TO GOLD) WITH A ZERO PRICE INCREASE AND AN HUGE 7300+ GAIN IN SEPT EFP’S.

(report Harvey)

.

2.a) The Shanghai and London gold fix report

(Harvey)

 

2 b) Gold/silver trading overnight Europe, Goldcore

(Mark O’Byrne/zerohedge

and in NY:  Bloomberg

3. ASIAN AFFAIRS

i)Late TUESDAY night/WEDNESDAY morning: Shanghai closed DOWN 1.60 POINTS OR 0.05{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}   / /Hang Sang CLOSED UP 329.60 POINTS OR 1.19{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/ The Nikkei closed UP 143.99 POINTS OR 0.74{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Australia’s all ordinaires CLOSED UP 0.01{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528}/Chinese yuan (ONSHORE) closed UP at 6.5920/Oil DOWN to 46.17 dollars per barrel for WTI and 51.76 for Brent. Stocks in Europe OPENED DEEPLY IN THE GREEN. Offshore yuan trades  6.5933 yuan to the dollar vs 6.5920 for onshore yuan. NOW THE OFFSHORE MOVED SLIGHTLY WEAKER  TO THE ONSHORE YUAN/ ONSHORE YUAN MUCH STRONGER (TO THE DOLLAR)  AND THE OFFSHORE YUAN IS MUCH STRONGER TO THE DOLLAR AND THIS IS COUPLED WITH THE SLIGHTLY STRONGER DOLLAR. CHINA IS  HAPPY TODAY

Read More @ HarveyOrganBlog.com

The bluff will finally be called…

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by Bill Holter, Miles Franklin:

This was written for JSMineset subscribers and published Tuesday. David Schectman is undergoing a medical procedure and asked if I could publish a couple of articles in his absence. I gladly obliged as we still have close ties between Miles Franklin and JSMineset. If you enjoy this, please consider subscribing here https://www.jsmineset.com/membership-account/membership-levels/ .

A little over four years ago, gold and silver were blasted with sales from “the Jolly Green Giant” that caused major price declines. If you recall, this happened immediately after a closed meeting between Obama, the Treasury secretary and the heads of many banks and brokers. We wrote about it at the time and discussed the outsized (and naked) sales on COMEX, concentrated in very short timeframes that actually came in waves. Since then, we have seen a half dozen of these events each year and always coordinated with key “technical” levels. In other words, the sales were a very large paintbrush used to paint the charts to display the “official” all is well picture. The outsized sales always worked to depress price until Friday.

Friday saw our Green Giant again enter the COMEX floor to dump 2 million gold ounces and 50 million silver ounces. This amounted to about 2.5{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global gold production and about 6{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production …in ONLY TWO MINUTES! In perspective, the COMEX holds 735,000 gold ounces and 38 million silver ounces in their dealer (deliverable) inventories. Let’s call this $1 billion and $650 million worth which is completely laughable in a world where $5-10 billion takeovers are done every single day.

As we pointed out last week, the dollar was used (“forced”) on the world for the last 40++ years. It was “forced” by our military plain and simple. If you don’t believe this, ask the ghosts of Saddam, Khadaffi and other deposed/dead leaders who tried to break away from using the dollar? But recently it looks as if our military may have been technologically neutered based on the recent naval “mishaps”.

My point is this, we may not have had a COMEX run in the past for two reasons, 1. for fear of military retribution. 2. because why upset the apple cart as long as gold is still being delivered? But the equation is changed if the dog has had its teeth pulled and is running low on deliverable metal. We have no way to know for sure if the bottom of the barrel is in view but we do know for sure it has been over 20 years where physical demand has far outstripped global production plus scrap supply. We are much closer to Western gold running out today than any time prior based on supply/demand basics.

Our naval ships being rammed and buzzed are a giant middle finger which has followed unprecedented dollar sales as evidenced by the FOREX dollar waterfall. The final middle finger will cost less than $2 billion to gobble up the woefully low metal available that has represented “strength” to this point. COMEX will be broken because it is a “broken” concept to start with. Argue this all you want but then explain how 500 contracts can be backed by only one single ounce?

Please understand we are in a war where shots fired are financial. The U.S. is broke without argument and fighting a financial war where we could always use the final threat of military action. If the military has been defanged then the end game to our Ponzi has finally arrived because “forcing” new money into the scheme is no longer viable.

We have asked readers to imagine a world where “credit” is unavailable. We asked this because it is exactly where we are headed. Without the benefits of free issuance of the global reserve currency, credit in reality will evaporate and no longer be forwarded to Uncle Sam. Quite simply, we will need to adjust our lifestyles down to what we actually produce. A 50{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} drop in goods available (as everything is now imported) will be a rosy scenario. ALL sides of the equation will break. People will lose savings and not have funds to purchase the fewer goods available (produced here and not imported) that actually get to market with a distribution system in gridlock! Get ready to do with less …or without.

As for the metals, the world is clearly (being led by China) moving towards cash markets and away from paper markets. The implosion of COMEX will come swiftly and possibly with no warning at all. It could be they receive an “unfillable” order and know delivery will be demanded. The rules will change or they will simply end the contract …because it is a contract that cannot perform or be honored.

We have lived a credit fueled fantasy lifestyle that lasted so long, “normal” or living within ones means is not even a distant memory. We are very soon to see the “bluff” of the U.S. called and will include the biggest bluff of all …gold! You will be told “it won’t happen …because it hasn’t happened”. This is very dangerous thinking and mostly dangerous to you if you believe it. The U.S. has run roughshod on the world for years and is now in a very weakened state. If you cannot see this then no one can help you. Think back to your school days when the “bully” was in a weak position? He was sucker punched and even piled on by the geeky guy with glasses in the band. He was not liked and people were happy to see him fall. Similar to the world’s view of the U.S. today?

Read More @ MilesFranklin.com

Score Tied at Halftime but Gold & Silver MUST STEP-UP THEIR GAME

from SilverDoctors.com

The fundamental news is all over the place this week. On the one hand, we have Hurricane Harvey coverage 24/7. On the other hand, we have North Korea and everything else. This week everything else does not include the sharp political, racial and social divides that are wreaking havoc in the streets on America. We speculated this would be the case last Friday.

Either way one looks at the fundamental news on the week, none of it is good. Lives and property are ruined out west, and tensions are heating up in the far East. If the fundamental news was not bad enough, it is about to get even trickier. On the economic calendar, we have the ADP Employment Report, the first revision of Q2 GDP, and the EIA Petroleum Status Report. Rest assured all eyes will be on the petroleum report today as analysts are all offering their $.02.

The rest of the week is full of data releases as well. Friday is September 1st, so we are getting the earliest release of a Nonfarms Payroll Report as possible. If the fundamentals have moved the markets so far, they will move them even more as this data is released. While we will not see the effects of Harvey on employment until at least next month, how the disaster affects the employment situation in the US is just as significant as how it affects oil. One could even argue this is more important, because with oil we are discussing a commodity, but with employment, we are talking about people.

Also stated last Friday, we posed the question if Harvey was the black swan the analysts have been up early every morning bird-watching for? Seeing as how Harvey is still doing damage, and the fact that damage assessment hasn’t even started, it looks more and more with every passing day that it is, and if this is the case, it would be more like a flock of black swans in a flyover more than one single bird swooping in.

Since Texas is Oil Country, let’s start with crude. We can throw copper in for good measure. We are going to take it way back this week and throw up a 3-year, weekly chart:

Since the end of 2014 crude oil has gone nowhere. It has been drawing out a long, multi-year bottom and it looks like it is finally turning up, based on the performance of other commodities. If this is the case, and if the new bull run in commodities has begun, crude needs to catch up to copper, and we could be staring down much higher oil prices as the weeks play out.

Copper is on a tear. Most do not believe in the start of a new bull market, though trying to fight it could be costly. It is hard to find a nicer, rounded bottom (on a chart) than on copper. It almost has a reverse head-n-shoulders forming on the weekly. Copper is right up at 3-year highs going back to September, 2014. If the bull run in copper is not the case, copper would fall down to crude on the cart above, however, does anybody really think crude is going back to $26? Especially considering dollar weakness all year?

Speaking of the dollar:

On the daily we can see that the US dollar and the Japanese yen are severely decoupled. If USD/JPY falls on the chart, that means the Japanese yen is strengthening against the dollar. Do dollar bulls really think the dollar is about to turn the corner and strengthen? We have a debt ceiling to look forward to, and now, how many hundreds of billions in federal aid is going to be borrowed to pay for Harvey damages? Well, apparently Goldman Sachs thinks it is going to turn. So we know there is at least one dollar bull left. Just be careful. He could be a wolf in sheep’s clothing looking to sell dollar with nobody wanting to buy them.

Our stellar performer in the precious metals is our good friend Palladium:

Palladium has a very nice, round bottom of its own too. Palladium is back at 3-year highs. Hmmm. Kinda makes you wonder doesn’t it? Copper is at 3-year highs, palladium is at 3-year highs, the dollar has been falling all year, but still, nobody is ready to call the turn in gold, silver or copper.

It would be fun to throw a trick question out there and ask an analyst if palladium is in a new bull market. If the answer is “yes”, that would be admittance of a new precious metals bull market, because palladium is a precious metal, and it would also be admittance of a new base metals/commodities bull market, because palladium is also an industrial metal. Write that question down on a 3×5″ note-card and put in in the back pocket for later.

GOING FOR GOLD!

We are all pleased with the performance of the yellow metal in the month of August. You can rest assured, however, there are forces at work trying to make sure gold does not put in a weekly but more importantly a Monthly close above $1300.

TODAY AND TOMORROW MIGHT BE GUT-WRENCHING.

The is also this nasty little issue to deal with all the way from $1310 to $1350. Last Friday we said gold needs to break-out BIG-TIME. This is as true going in to the rest of the week as it was back then. What we really need is to bust through $1350 very heavy-handily, but we must not count ourselves in the clear just yet. Gold is still trying to tread water above $1300 on the week. There are many things that could happen over the next three trading days, so we all really need to keep a solid head on our shoulders and not get too far in front of our skis. We’ve been let down so many times this year, or pushed down, however you want to call it, but that does not mean we are not confident

Read More @ SilverDoctors.com

Big Bank Bosses Are Dumping Their Stocks As “Credit Risk Ricochets Back”

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from ZeroHedge:

“Credit risk is ricocheting back as a legitimate concern after years of hibernation…” warns David Hendler, founder and principal at Viola Risk Advisors, who considers recent share sales by executives at the big retail banks, in particular, to be smart, as consumer portfolios are showing signs of strain.

Wall Street analysts have been urging investors all year to buy stocks in the big US banks, but, as The FT reports, Wall Street itself is not listening.

We noted at the start of the year that executives of the biggest TBTF banks were dumping their shares as a post-Trump rally took their stock prices higher

And now, as The FT reports, it continues to gather pace. Insiders at the big six banks by assets — JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs and Morgan Stanley — have in total sold a net 9.32m shares on the open market since the turn of the year. Even excluding Warren Buffett’s big dumping of shares in Wells in April, to avoid tripping over rules capping ownership by a non-bank, sales by insiders outnumber purchases by about 14 to one.

Read More @ ZeroHedge.com

DEATH OF THE U.S. DOLLAR RESERVE CURRENCY… Picking Up Speed

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by Steve St. Angelo, SRSrocco:

The Death of the U.S. Dollar as the world’s reserve currency will have a profoundly negative impact on the lives of most Americans.  Unfortunately, 99{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of the population has no clue.  The only reason 1{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of U.S. citizens understand what is going on, is because the Mainstream media and financial networks have distorted the truth and the reality of our present situation.

What happened in the markets today was a perfect example.  Zerohedge published an article today titled,  ‘Traders’ Panic-Buy Stocks, Shrug Off Nuclear Armaggedon, Debt Ceiling, & Biblical Flood Fears, and stating the following:

For a few brief hours overnight – until the bell rang at 0930ET on the NYSE – investors were anxious about North Korea’s most provocative yet missile launch, the terrible flooding disaster in Texas, and lest we forget, the looming debt ceiling debacle. But all of that was instantly forgotten as the machines took control and lifted stocks higher practically all day on a sea of USDJPY-ignited momentum.

Looking at the chart above, we can see that when fear came into the markets during the North Korea missile incident and then the opening of the European markets (shown in the two red boxes), the Dow Jones Index fell as well as the USDJPY, while gold and the U.S. Treasurys increased.

However, after the U.S. markets opened, MAGICALLY everything reversed because the nuclear threat with N. Korea, Biblical flooding in Texas and the upcoming debt ceiling issue no longer mattered.  Those of us in the Alternative Media find this quite hilarious that nothing negatively impacts the financial markets anymore.  Some have laughed while saying, “If a nuclear bomb had taken out New York City, the stock market would probably go up.”  While I doubt that would happen, it is becoming a real joke to watch the financial markets today.

I wrote about the insanity in the markets today and how it has negatively impacted the value of the precious metals in my recent article, The Reason Why Gold & Silver Have Frustrated Investors Since 2011.  In the article I posted the chart below, by a Deutsche Bank analyst Aleksandar Kocic, on why the Markets Broke In 2012:

The description of the indicator above may be a bit difficult to understand so that I will simplify it.  The BLUE LINE represents the “Economic Uncertainty Policy” (EPU index) shown by the frequency of articles in ten leading US newspapers that contain three of the target terms: economy, uncertainty; and one or more of Congress, deficit, Federal Reserve, legislation, regulation or White House in the mainstream media.  The BLACK LINE is the VIX index, the volatility index (S&P 500).  Economic uncertainty printed in articles in the Mainstream Media should correspond with the volatility indicator of the markets (the VIX).

And, this is what precisely took place from 1996 to 2011.  The blue and black lines moved up and down in tandem.  However, after 2011, something changed.  According to Kocic:

Intuitively, when VIX is in tune with EPU, the market is acknowledging the levels of risk through the prices. However, when VIX is low and EPU high, markets are complacent – they are underpricing risk.

After 2011, the two measures of risk decouple with VIX consistently low despite growing uncertainty. The breakdown is structural, and it is visible across all market sectors, not only equities.

What Kocic is saying is that the market has become highly complacent and is severely underpricing risk.

Read More @ SRSrocco.com

Forgotten history: US bankers financing US enemies—and why it is important now

by Jon Rappoport, No More Fake News:

In 1971, Gary Allen published his book, None Dare Call it Conspiracy. It quickly became an unofficial best seller.

Over the years, several million copies have been sold.

Allen’s thesis was stark: super-rich American capitalists were financing socialism. This bizarre paradox was resolved when socialism was properly understood—not as “power to the people”—but as elite power over the people. In other words, as a hoax.

These days, the socialist hoax is still unknown to most of the population.

Cloak a global power grab as progress for all of humanity.

Here, from chapter six of None Dare Call it Conspiracy, “The Rockefellers and the Reds,” is a devastating passage commenting on the period just after the Russian Revolution of 1917:

“The Rockefellers assigned their public relations agent, Ivy Lee, to sell the American public the idea that the Bolsheviks were merely misunderstood idealists who were actually kind benefactors of mankind.”

Professor Antony Sutton of Stanford University’s Hoover Institution, notes in his highly authoritative Western Technology and Soviet Economic Development:”

“’Quite predictably…[Ivy] Lee concludes that the communist problem is merely psychological. By this time he is talking about “Russians” (not Communists) and concludes “they are all right.” He suggests the United States should not engage in propaganda; makes a plea for peaceful coexistence; and suggests the United States would find it sound policy to recognize the USSR and advance credits [give loans].’ (Antony Sutton, Western Technology and Soviet Economic Development, 1917-1930, Hoover Institution on War, Revolution and Peace, Stanford University, Calif., 1968, p.292)”

“After the Bolshevik Revolution, Standard [Oil] of New Jersey [Rockefeller] bought 50 per cent of the Nobel’s huge Caucasus oil fields even though the property had theoretically been nationalized [by Russia]. (O’Connor, Harvey, The Empire Of Oil, Monthly Review Press, New York, 1955, p.270.)”

“In 1927, Standard Oil of New York [Rockefeller] built a refinery in Russia, thereby helping the Bolsheviks put their economy back on its feet. Professor Sutton states: ‘This was the first United States investment in Russia since the Revolution.’ (Ibid, Vol.1, p.38)”

“Shortly thereafter Standard Oil of New York and its subsidiary, Vacuum Oil Company [Rockefeller], concluded a deal to market Soviet oil in European countries and it was reported that a loan of $75,009,000 to the Bolsheviks was arranged. (National Republic, Sept.1927.)”

“…Wherever Standard Oil would go, Chase National Bank was sure to follow. (The Rockefeller’s Chase Bank was later merged with the Warburg’s Manhattan Bank to form the present Chase Manhattan Bank.) In order to rescue the Bolsheviks, who were supposedly an archenemy, the Chase National Bank was instrumental in establishing the American-Russian Chamber of Commerce in 1922. President of the Chamber was Reeve Schley, a vice-president of Chase National Bank. (Ibid, Vol.11, p.288) According to Professor Sutton: ‘In 1925, negotiations between Chase and [Russian] Prombank extended beyond the finance of raw materials and mapped out a complete program for financing Soviet raw material exports to the U. S. and imports of U. S. cotton and machinery.’ (Ibid, Vol.11, p.226) Sutton also reports that ‘Chase National Bank and the Equitable Trust Company were leaders in the Soviet credit business.’ (Ibid, p.277)”

“The Rockefeller’s Chase National Bank also was involved in selling Bolshevik bonds in the United States in 1928. Patriotic organizations denounced the Chase as an ‘international fence.’ Chase was called ‘a disgrace to America… They will go to any lengths for a few dollars profits.’ (Ibid, Vol.11, p.291) Congressman Louis McFadden, chairman of the House Banking Committee, maintained in a speech to his fellow Congressmen:”

“’The Soviet government has been given United States Treasury funds by the Federal Reserve Board and the Federal Reserve Banks acting through the Chase Bank and the Guaranty Trust Company and other banks in New York City.”

“’Open up the books of Amtorg, the trading organization of the Soviet government in New York, and of Gostorg, the general office of the Soviet Trade Organization, and of the State Bank of the Union of Soviet Socialist Republics and you will be staggered to see how much American money has been taken from the United States’ Treasury for the benefit of Russia. Find out what business has been transacted for the State Bank of Soviet Russia by its correspondent, the Chase Bank of New York’. (Congressional Record, June 15, 1933.)”

“But the Rockefellers apparently were not alone in financing the Communist arm of the Insiders’ conspiracy. According to Professor Sutton ‘… there is a report in the State Department files that names Kuhn, Loeb & Co. (the long established and important financial house in New York) as the financier of the [Russians’] First Five Year Plan. See U. S. State Dept. Decimal File, 811.51/3711 and 861.50 FIVE YEAR PLAN/236.’ (Sutton, op. cit., Vol. II, p. 340n.)”

“Professor Sutton proves conclusively in his three volume history of Soviet technological development that the Soviet Union was almost literally manufactured by the U.S.A…”

“…Sutton shows that there is hardly a segment of the Soviet economy which is not a result of the transference of Western, particularly American, technology.”

“This cannot be wholly the result of accident. For fifty years the Federal Reserve-CFR-Rockefeller-lnsider crowd has advocated and carried out policies aimed at increasing the power of their satellite, the Soviet Union. Meanwhile, America spends $75 billion a year on defense to protect itself from the enemy the Insiders are building up.”

NOTE: The descendants of these bankers are now doing everything they can to build up the story that Donald Trump won the presidency by colluding with Russians. To call this an irony, in view of the above information, would be a vast understatement.

However, the motives of these men are clear: regardless of whether Trump meant to keep his promises to destroy Globalism (aka worldwide socialism), his mere mention of Globalism as the enemy, during the presidential campaign, and his declared opposition to Globalist “free trade” treaties, was sufficient to warrant an all-out attack on him.

The whole idea of nationalism as preferable to Globalism could act as a contagious germ spreading to the people of other countries—so Trump as the face and symbol of such sentiments had to be defamed and crushed.

Through various front organizations, cutouts, dupes, brainwashed useful idiots, and violent hired thugs, that operation to crush Trump is well underway.

Again—and this point must be understood—IT DOESN’T MATTER WHETHER TRUMP EVER MEANT TO KEEP HIS PROMISE TO BURY GLOBALISM. THE MERE MENTION OF GLOBALISM AS THE ENEMY WAS AND IS SUFFICIENT TO WARRANT UNCEASING ATTACKS AGAINST HIM.

Many, many of Trump’s supporters want to see Globalism buried.

Ultimately, they are the real target of the Globalists, who want to neutralize and disperse them and make them passive and demoralized.

Read More @ NoMoreFakeNews.com

Is This The Next Paypal?

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from SilverDoctors:

This Disruptive Tech Is Set To Revolutionize How We Pay For Things…

The world has had enough of paper money.

Now that consumers are done with physical wallets, the multi-billion-dollar mobile pay app market is minting new digital barons at breakneck speed.

And we’ve just identified one company at the forefront of the revolution which has a very compelling story.

Glancepay is already the no. 1 mobile payment app in Canada, ranking at over 92 percent of mobile payment app downloads. It’s also making big waves across North America, where it ranks 37 percent of all mobile payment app downloads.

This could be a timely opportunity for early investors who understand what’s about to happen.

For example, when Alipay hit the Chinese market with its instant mobile app pay features, it was an overnight sensation. Now, it’s conducting a massive $1.7 trillion in business annually in China.

And this story is very exciting because GlancePay (CSE:GETOTC:GLNNF) is also making inroads in the billion-dollar cannabis market in a deal that gives them direct ownership in Canapay Financial Inc. and they are planning moves into cryptocurrency markets, too.

Mobile payment technology is one of the fastest-growing markets in the world, and GlancePay is hoping to be the major market disrupter—filling a gap that not even the trillion-dollar Chinese turnover is filling, nor major players on the North American scene.

How? By focusing equally on merchants and consumers, losing cumbersome and security-plagued hardware, and offering much more than just one-click payments: rewards, choices, and even tab-splitting.

In short, GlancePay (CSE:GET) has apps that can simply take a glance at where you are… using proprietary and patented GPS / micro-location and image identification technology… and pays your merchant…in seconds.

It’s holistic, streamlined, and has the technology with patents to protect it, an issue that has kept major players from securing greater market share over the past few years.

In the age of convenience, no one favors the contortionist gymnastics required to hang out the window to pay a parking stub that may or may not work under the pressure of honking horns lined up behind.

PayByPhone founder Desmond Griffin already spotted that trend before it was one, and created the defacto leader in this burgeoning space.

Likewise, in this era of instant gratification, it seems unnecessary to wait for the check in a restaurant, and then wait again while the waitress shuttles back and forth to complete the transaction. Restaurant owners would agree, wholeheartedly: Mobile pay apps mean faster table turnover and more revenues. This time, Griffin not only spotted the trend—he spotted what existing offerings were lacking, integration and a much bigger picture.

GlancePay is nothing if not forward-thinking: We’re less than a year away from the launch of legalized recreational use of marijuana in Canada, and GlancePay is already taking advantage of the onslaught of consumer demand to come, and the already existing demand for medical marijuana. For a recreational marijuana industry that could be worth $22.6 billion annually, GlancePay guarantees lighting fast turnaround for vendors, and one-click pay for buyers.

Launched only in September 2016, Glance Pay already has 160 merchants signed on, and its growth is poised to soar in the coming weeks and months. Its Q2 revenue is up a whopping 664{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} over the previous quarter.

Here are 5 reasons to keep a close eye on GlancePay (CSE:GETOTC:GLNNF)

#1 Proprietary and Patented Technology

GlancePay is a streamlined payment platform that allows customers to pay their bill instantly with their mobile device. It means no more waiting on waitresses; no more credit card machines; and a single app rather than one for each restaurant.

The app knows where you are using patented GPS technology. And, if GPS isn’t available, it can even determine your location using a photo of where you are. Much like Google has mapped the world… GlancePay has quietly built a proprietary global database of locations.

It’s as easy as point, shoot, pay.

But it is also much more. It takes the mobile pay app experience much further than Apple Pay, which only iPhone owners can use, and which has failed so far to gain widespread usage.

With GlancePay, you’re not just paying a bill: The system includes in-app marketing, in-store rewards, transaction history, payment confirmation, and even the ability to split the tab in a restaurant. It incentivizes users… and adoption is picking up from this network effect.

It also helps you choose nearby restaurants, and soon, it will also let you order from your table, pre-order for pickup, or order for delivery.

For restaurants, it means better business, faster turnaround and potentially greater revenues.

The company estimates that restaurants will benefit from 10{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} faster table turnover during peak periods, improved server productivity, which should generate bigger tips, and a loyalty/rewards program that could encourage customer returns and even attract new customers. The built-in feedback program also adds to the big-picture offering here, by giving restaurants a faster, easier way to earn reviews and ratings.

Read More @ SilverDoctors.com