Saturday, June 19, 2021

Translating Yellen-Speak into Golden-Speak

by Matthew Piepenburg, Gold Switzerland:

Given the increasingly politicized interplay (cancer) of central bank policy and so-called free market price discovery, it’s becoming increasingly more important to track the actions of central bankers rather than just traditional market signals alone.

Like it or not, the Fed is the market.

Toward this end, we’ve had some substantive fun deciphering the past, current and future implications of “forward guidance” from our openly mis-guided crop of central bankers, most notably Greenspan, Bernanke and Powell.

Rep. Alex Mooney Probes U.S. Treasury About Its Secret Gold Activities

by Clint Siegner, Money Metals:

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason.

As inflation continues to heat up, gold and silver markets are once again on the verge of breaking out.

On Thursday, the Bureau of Labor Statistics released its much-anticipated Consumer Price Index data. The CPI came in at a full 5.0% year-over-year through May.

The so-called “core” rate, which excludes food and energy, showed an annual increase of 3.8%. That represents the biggest jump since all the way back in 1992.

Market Report: Underlying Strength

by Alasdair Macleod, GoldMoney:

Looking at our introductory chart, it seems bizarre that in a year when the US dollar M1 money supply is growing at 15% annualised (since 1 January), with interest rates still supressed at the zero bound and with the price effects beginning to undermine the carefully choreographed CPI statistics, that gold is unchanged on the year.

This week provided evidence that this may be changing, with both gold and silver refusing to dip despite some determined bear raids. In European trading, this morning gold was at $1895, up $5 from last Friday’s close, and silver was at $28.13, up 33 cents on the same timescale. $1900 and $28 respectively seem to be a Maginot line.

What the Next Gold Confiscation Will Look Like… and How to Protect Yourself

by Nick Giambruno, International Man:

On April 5, 1933, under the pretext of a national emergency, President Franklin D. Roosevelt issued Executive Order 6102, making it illegal for U.S. citizens to own gold.

The decree forced Americans to sell their gold at an artificially low “official price.” If they refused, the government could hit them with stiff penalties: a $10,000 fine (equivalent to $205,000 today) and/or up to 10 years in prison.

The government blatantly stole wealth from the American people.

Many worry the U.S. government might confiscate gold again if it becomes desperate enough. I don’t think those fears are unfounded. The U.S. government’s abysmal financial situation is only getting worse.

The First Physical Gold ATM Opens in Prague, Czech Republic

by Peter Spina, Gold Seek:

The first physical Gold bullion ATM in the Czech Republic has been launched in the center of Prague with the company looking to add more in the near future.

Just a few kilometers from our Prague GoldSeek office, the ATM has been installed at the main entrance, next to the other cash ATMs, as you enter one of the main malls in the city center (New Smichov Shopping Center).

France’s Macron Urges G-7 To Sell Gold Reserves To Fund Bailout For Africa

from ZeroHedge:

Having been slapped in the face by an unemployed fan of medieval swordsmanship who said he is a right-wing sympathiser yesterday, French President Macron was back at work today, making headlines in his latest press conference.

Building on comments from earlier in May, when Macron hosted African leaders and the heads of multilateral lenders to find ways of financing African economies hurt by the COVID-19 pandemic and discuss handling the continent’s billions of dollars debt; the French President had an interesting suggestion for how to fund the bailout.

Gold Flowing Into ETFs Again

by Peter Schiff, Schiff Gold:

In 2020, gold-backed ETFs recorded record net inflows of gold. Funds added nearly 231 more tons in 2020 than they did during the previous record year (2009/646 tons). But with declines in the price of gold and investors pivoting to riskier investments as economies improve, we’ve seen net outflows of gold from ETFs over the last three months.

That trend reversed in May as gold-backed funds globally added 61.3 tons of gold, according to the latest data from the World Gold Council.

O/N REVERSE REPO REACHES 1/2 TRILLION DOLLARS AS THE MARKETS ARE BROKEN

by Harvey Organ, Harvey Organ Blog:

TOMORROW THE ALL MPORTANT RELEASE OF THE CPI//GOLD PRICE TODAY: UP $1.05 TO $1892.10//SILVER IS UP 17 CENTS TO $27.87//A MONSTER QUEUE JUMP OF 33,300 OZ //NEW GOLD STANDING AT THE COMEX: 70.03 TONNES//SILVER OZ STANDING AT THE COMEX 12.955 MILLION OZ//CORONAVIRUS UPDATE/VACCINE UPDATES/IVERMECTIN UPDATE//IRAN VS USA VS EUROPE: GOING NOWHERE ON THEIR NUCLEAR DEAL//BIDEN TO KEEP SANCTIONS ON IRAN//O/N REVERSE REPO REACHES 1/2 TRILLION DOLLARS AS THE MARKETS ARE BROKEN//SWAMP STORIES FOR YOU TONIGHT