Sunday, February 23, 2020

CORONAVIRUS SPREADS TO MANY COUNTRIES

by Harvey Organ, Harvey Organ Blog:

HUGE RISE IN PRICE OF GOLD: UP $28.40 TO $1646.10 ON DRAMATIC ESCALATION IN THE CORONAVIRUS PANDEMIC//SILVER RISES 22 CENTS UP TO $18.56//COMEX HAS HUGE QUEUE JUMPING IN BOTH GOLD AND SILVER AS BANKERS BADLY NEED PHYSICAL METAL//DOW PLUMMETS BY 227 POINTS AND THE NASDAQ FALLS A WHOPPING 174.38 POINTS//CORONAVIRUS SPREADS TO MANY COUNTRIES//IRAN HAS ANOTHER 2 DEATHS//SOUTH KOREA BECOMES THE 2ND HOT SPOT AFTER HUBEI PROVINCE (WUHAN CITY)//IN HORRIFYING NEWS WE HAVE OUR FIRST RE INFECTION IN CHENGDU //ALASDAIR MACLEOD: A MUST READ FOR THIS WEEKEND// SWAMP STORIES FOR YOU TONIGHT

Market Report: Gold roars through $1600

by Alasdair Macleod, GoldMoney:

Gold and silver performed strongly this week as it became clear to a wider investment audience that a new bout of coordinated global money-printing is ahead. Gold rose $50 from last Friday’s close to trade at $1633 in European trade this morning, while silver rose 75 cents to $18.50 over the same timescale.

On Comex, open interest in the gold contract has soared 75,000 contracts since 12 February, as shown in our next chart.

Red Gold: China’s Stealth Plan to Use Gold for World Domination

by Marin Katusa, Katusa Research:

Gold used to be important.

During and after World War II, every major developed country amassed as much physical gold as they could. It stabilized currencies and signaled independence.

But with the end of the gold standard in 1971, most countries began to sell off their reserves.

So much so that in 1999, an agreement was formed to limit the amount of gold that central banks could sell. Fast forward to today, and Canada’s central bank owns ZERO gold.

Will COVID-19 lead to a gold standard?

by Alasdair Macleod, GoldMoney:

Even before the coronavirus sprang upon an unprepared China the credit cycle was tipping the world into recession. The coronavirus makes an existing situation immeasurably worse, shutting down China and disrupting global supply chains to the point where large swathes of global production simply cease.

The crisis is likely to be a wake-up call for complacent investors, who are content to buy benchmark bonds issued by bankrupt governments at wildly excessive prices. A recession turned by the coronavirus into a fathomless slump will lead to a synchronised explosion of debt issuance for which there are no genuine buyers and can only be monetised.

Thursday Conversation – Rick Rule

by Turd Ferguson, TF Metals Report:

As the bull market for precious metals continues, many are frustrated by the underperformance of the mining sector thus far in 2020. To that end, here’s legendary resource investor Rick Rule to help shed some light on this topic.

Many of you are familiar with Rick and his team at Sprott Asset Management. If you are looking for guidance and assistance in your resource investing, they are certainly top-shelf. So it was great fun to get caught up with Rick and ask him to address these three, primary points:

Click HERE to listen

Gold Chased The Money Supply Higher

by Dave Kranzler, Investment Research Dynamics:

Q: “Why is the Fed reluctant to let the boom-bust nature of markets play out?”
A: “Because it what’s they’ve always done [since the Fed was founded in 1913]…Once you’re in power, you’re going to do what you can to defend the system as it is”

The best official measure of the money supply created by the Fed was M3.  “Was” because the Fed under Helicopter Ben removed M3 from public view.  But the “effective” money supply is the currency printed plus the “spendable” currency created by debt issuance. Currency from a loan behaves like printed money until the loan is repaid.  But for the last 10 years the amount of the loans outstanding, and therefore the supply of “spendable” currency,  has risen at an increasing rate.

CORONAVIRUS COMMENTARIES FORM SOUTH KOREA, FROM JAPAN AND CHINA

by Harvey Organ, Harvey Organ Blog:

GOLD UP $9.00 TO $1617.70//SILVER DOWN 7 CENTS TO $18.34//GOLD UP FOR 10 OUT OF 11 TRADING DAYS//ANOTHER HUGE QUEUE JUMPING IN GOLD AND SILVER AS PHYSICAL SUPPLIES ARE DISSIPATING//CORONAVIRUS COMMENTARIES FORM SOUTH KOREA, FROM JAPAN AND CHINA// ISRAEL WARNS IRAN TO GET OUT OF SYRIA OR ELSE/BRAIN DEAD TURKEY (THE MOUSE THAT ROARED) WARNS RUSSIA/MORE SWAMP STORIES TONIGHT E.G. ROGER STONE

THE WORLD’S BEST KEPT INVESTMENT SECRET

by Egon Von Greyerz, Gold Switzerland:

There is a secret investment that virtually no investors are aware of. This is an investment that despite government manipulation and being besmirched by MSM still has outperformed all asset classes in this century. But it is not just an investment, it is the best hedge that anyone can buy against:

  • A failure of the financial system
  • Central bank debasement of fiat money

Mexican Congressman Calls On Govt To NOT EXPORT Mexican Silver, To Back The Peso With Silver, And Urges Citizens To Save In Silver!

from Silver Doctors:

Meanwhile in Mexico, “silver produced in Mexico should stay in Mexico and be used to strengthen the savings of the Mexican people”…

(Silver Doctors Editors) Mexico is talkin’ plata again!

The Silver-Backed Mexican Peso that is!

Meet Fernandez Norona:

Waiting on COMEX Silver – Craig Hemke

by Craig Hemke, Sprott Money:

So far, it has been a great 2020 for COMEX Digital Gold, and this is playing out much as we forecast when the year began. However, as COMEX Digital Silver and the mining shares lag behind, frustration is building within the sector. So today, let’s take a look at silver and identify again the levels to watch in the weeks ahead.

As we often do, let’s first draw back to the most recent time we wrote about the current subject. For COMEX Digital Silver, this was back in early January. If you missed it then, please review our “2020 Macrocast” that was posted on January 7:

HUGE INCREASE IN COMEX GOLD AND HUGE ISSUANCE OF EXCHANGE FOR PHYSICALS

by Harvey Organ, Harvey Organ Blog:

GOLD UP $8.25 TO $1608.70//SILVER UP 23 CENTS TO $18.41//HUGE QUEUE JUMP IN GOLD LAST NIGHT//HUGE INCREASE IN COMEX GOLD AND HUGE ISSUANCE OF EXCHANGE FOR PHYSICALS//FOMC MINUTES CLAIM FED INTENDS TO TAPER PURCHASES OF T BILLS IN THE REPO MESS (NOT A CHANCE OF THIS HAPPENING)/ MORE CORONAVIRUS COMMENTARIES/MORE SWAMP STORES FOR YOU TONIGHT

Demand For Physical Precious Metals Surge Due To Fears About Disruptions In The Global Supply Chain

by Steve St. Angelo, SRSRocco Report:

According to a precious metals dealer I spoke with, the world out on the street is that demand for gold and silver has recently surged due to investor concerns about a disruption to the Global Supply Chain.  We are already seeing a massive slowdown in China’s oil demand as official reports show a 20% reduction in oil consumption.

However, I believe China’s oil demand is much lower than the 20% figure reported by Bloomberg and reposted by Gulfnews.com on Feb. 3rd: