Monday, December 10, 2018

Irish Central Bank Refuses To Discuss Gold Reserves In Bank of England Vaults

by Mark O’Byrne, GoldCore:

– As Brexit looms, the Central Bank of Ireland has refused to discuss the location and value of Irish gold reserves
– No date given for removal of “commercially sensitive” gold reserves from Bank of England vaults

– Bank of England vaults in London believed to hold almost €200 million of Irish gold
– Ireland’s financial system & economy is hugely exposed to a Brexit downturn

Gold Flows into ETFs for Second Straight Month; Global Holdings Up on the Year

by Peter Schiff, Schiff Gold:

Gold holdings in gold-backed ETFs rose for the second straight month and turned positive for the year in November.

According to a report by the World Gold Council, 21.2 tons of gold, valued at about $804 million, flowed into ETFs last month. Total global holding rose to 2,365 tons. 

Global stock markets remained volatile, although they ultimately ended the month mixed. Oil performance was a key story as the commodity fell more than 22% on the month amidst supply concerns. The US 2/10 Treasury yield curve flattened to near-low prices on the year as investors became concerned that US economic conditions may have peaked and could be showing potential for a recession in either 2019 or 2020. Long-dollar hedged gold is now higher on the year, rallying over 6% in Q3 with the improving gold and US dollar pricing.”

Venezuela: when fiat money reaches its intrinsic value

by Claudio Grass, Claudio Grass:

Over the last years, Venezuela has become a modern poster child for the failure of socialism and with good reason. It offers an abundance of lessons and stern warnings for many western nations, but it also provides a very insightful and relevant reminder for individual investors too.

Economic, social and human costs

Within the space of 5 years, a combination of plunging oil prices and extreme socialist policies have brought the country to its knees, together with its increasingly desperate citizens. Despite the fact that Venezuela has the world’s largest proven oil deposits and is also rich in coal and gold, the country today faces one of world’s worst humanitarian crises, according to the UN. Its downhill path began with the Hugo Chavez presidency, during which billions were pumped into populist programmes. This economic mismanagement, the push for nationalization and centralization and ultimately the country’s descent dramatically accelerated with the election of its next socialist President, Nicolas Maduro.

Thursday Conversation – Steve St. Angelo

by Turd Ferguson, TF Metals Report:

Longtime friend of TFMR, Steve St. Angelo of the SRSrocco Report, joins us today for an insightful and informative Thursday Conversation.

As is the usual format, I primarily asked Steve to address three specific concerns:

  1. The crude oil market and how this current price plunge may impact not only inflation expectations but the entire US economy.
  2. The input costs of the average gold and silver miner and how falling energy prices can impact production costs and quarterly earnings.
  3. Global retail precious metal demand trends and how prices impact physical demand.

I think you’ll find this podcast to be quite interesting and I encourage you to give it a thorough listen.

Click HERE to listen

GOLD, SILVER & THE MARKETS: What’s Next For 2019

by Steve St. Angelo, SRSRocco Report:

The big question on the minds of most investors is what will happen to the markets and precious metals in 2019.  Well, the answer depends mainly on two factors, the oil price and overall weakness in the economy.  If the oil price continues to decline, it will indicate a deflationary outcome for the economy and markets.

While this sounds counter to the notion that falling oil prices will drive higher consumer demand, we also must remember that it will negatively impact the U.S. shale oil industry.  A lower sustained oil price, as I wrote about in my previous article, IT BEGINS… Rapidly Falling Oil Prices First Guts Tar Sands, Then Shale Oil will begin to destroy the oil industry, especially the unconventional oil industry.  I don’t believe Americans or the investors realize the tremendous amount of economic activity it takes to produce shale oil.

Trump’s Trade War Dilemma And Gold

by Dave Kranzler, Investment Research Dynamics:

If the “risk on/risk off” stock market meme was absurd, its derivative – the “trade war on/trade war off” meme – is idiotic.  Over the last several weeks, the stock market has gyrated around media sound bytes, typically dropped by Trump,  Larry Kudlow or China,  which are suggestive of the degree to which Trump and China are willing to negotiate a trade war settlement.

Please do not make the mistake of believing that the fate the of the stock market hinges on whether or not Trump and China reach some type of trade deal.  The “trade war” is a “symptom” of an insanely overvalued stock market resting on a foundation of collapsing economic and financial fundamentals.  The trade war is the stock market’s “assassination of Archduke Franz Ferdinand.”

High Corporate Tax Rates Coming Back – Peter Schiff Podcast

from SchiffGold – Peter Schiff’s Gold Company:

https://www.youtube.com/watch?v=aaIQNV80hhs

Alasdair Macleod Explains Why Interest Rates Are Inevitably Heading Higher

from Jay Taylor Media:

https://www.youtube.com/watch?v=oddU8SEk_f4

Russia Continues Moving Away From Dollar As Banking Sector Incorporates Blockchain

by Rory Hall, The Daily Coin:

Let’s not forget that Russia host the worlds largest blockchain technology conference in June 2018. This is to say nothing of the fact that President Putin met with the developer of Ethereum almost 2 years ago to discuss how the technology works and how it could be used in the Russian economy.

As Matt Agorist, The Free Thought Project reported in June 2017

Why buy gold now? Because I don’t know

by Simon Black, Sovereign Man:

From 2000 through 2012, the price of gold increased every year, rising from around $280 an ounce to nearly $1,700. It was an unprecedented run.

Then, in 2013, gold took a nose dive, losing over 27% of its value.

It was widely reported that the Swiss National Bank, the former bastion of monetary conservatism, lost $10 billion that year just on its gold holdings.

As you probably know, central banks hold a portion of their reserves in gold. The practice goes back to when central banks actually had to have gold on hand to trade in and out of paper money (or even trade for goods and services).

SOMETHING IS WRONG! This Nation’s Stacking Gold With A Fervor (And It’s Being Covered-Up)

from Silver Doctors:

The stacking of gold is off the charts! What’s this nation up to, why has it stacked so much physical, and what’s this nation preparing for? Find out here…

The Bank of Mongolia has purchased 18.9 tons of gold in the first 11 months of 2018.

Nearly nineteen tons.

No big deal, right?

Actually, it is a huge deal, and as you read on, you will find out why.

Massive Drawdown of Physical Metal | Rob Kirby

from Reluctant Preppers:

https://www.youtube.com/watch?v=RZqOT4RnEQI