Monday, August 3, 2020

GOLD UP 85 CENTS STO $1284.10/SILVER IS DOWN 5 CENTS TO $15.33: THE CROOKS ARE DESPERATE TO HOLD THE PRECIOUS METALS AT THESE PRICES

by Harvey Organ, Harvey Organ Blog:

THE BIG NEWS: CHINA AND USA CALL OFF TRADE TALKS/ANOTHER BIG NEWS: THE USA IS READY TO GIVE A DEATH SENTENCE TO HUAWEI AND ZTE/10TH STRAIGHT WEEKEND OF VIOLENCE IN FRANCE–SPREADS TO BELGIUM AS WELL//RIOTS IN GREECE ON THE RENAMING OF MACEDONIA TO NORTHERN REPUBLIC OF MACEDONIA/ISRAEL RAIDS IRANIAN WEAPONS DEPOT IN SYRIA SUNDAY NIGHT

South African Gold Production Drops for 14th Straight Month

by Peter Schiff, Schiff Gold:

Gold output in South Africa fell for the 14th straight month in November. According to Bloomberg, it ranks as the longest streak of monthly declines since 2012.

Production fell 14% from a year earlier, Pretoria-based Statistics South Africa said in a statement on its website last week.

South Africa once led the world in gold production. The precipitous drop in the country’s mine output over the last few years is expected to continue and could foreshadow a long-term trend of falling gold production globally.

READY FOR THE HYPER INFLATIONARY GREAT DEPRESSION?

from SGTreport:

The economic slowdown is now global, and far more advanced than we thought. With US national debt poised to surpass $22 Trillion this year, what calamity lurks just around the corner? Lanette Zang believes it may be a hyper inflationary depression from which no holder of fiat will escape.

Venezuelan Gold Holdings Double But Still Held Hostage By Bank of England

by Rory Hall, The Daily Coin:

If you own something that doubles but you can’t touch it or bring it home, did it really double?

I’m not a fan of Nicolas Maduro nor am I a fan of the policies that have been implemented during his reign as President of Venezuela. I am a huge fan of sovereignty and gold represents a portion of a nations sovereignty. What’s been happening with Venezuela’s gold is of importance to us at The Daily Coin and it should be of importance to you as well, regardless of Maduro or his failed policies.

Lior Gantz – Inflation Ahead and the Case for Gold

by Kerry Lutz, Financial Survival Network:

Lior Gantz believes a major paradigm shift in the global economy is about to take place. De-dollarization and the runaway deficits will lead to higher inflation and higher precious metals prices. One half of the country is living hand to mouth, in spite of record employment. How did that happen? In addition, gold has reached record levels in 72 countries, just not the US. Furthermore, the US Dollar returned more than stocks and bonds for the first time since 1969. All alarming stats that will lead to change.

Click HERE to Listen

Venezuela Recovers Gold Swapped With Deutsche Bank…And Guess Where The Gold Ends Up?

from Silver Doctors:

by Chris Powell of the Gold Anti-Trust Action Committee (GATA)

Venezuela Gold holdings at Bank of England Soar on Deutsche Deal, Sources Tell Reuters

By Mayela Armas and Corina Pons
Reuters
Monday, January 21, 2019

https://www.reuters.com/article/venezuela-gold/venezuela-gold-holdings-i…

CARACAS, Venezuela — Venezuela’s gold holdings at the Bank of England have jumped after the country closed out a gold swap deal with Deutsche Bank, according to two sources, as Britain remains reluctant to release gold held for the troubled OPEC nation.

Trade the Gold to Silver Ratio

by Gary Christianson, Miles Franklin:

  • Buy gold for insurance against fiscal and monetary predations of central bankers, commercial banking and government. Yes – certainly!
  • Buy silver for insurance, profit and beautiful coins. Yes!
  • Buy both to own real money that has no counter-party risk.

WHEN?

  • The simple answer is buy silver when the gold to silver ratio (G/S) is high and buy gold when the ratio is low. The problem is defining “low” and “high.”

Gold is wealth protection against every currency and not just the dollar as the metal is at or near all-time highs in 72 countries

by Kenneth Schortgen, The Daily Economist:

Contrary to popular belief, the world runs on more than just five primary currencies (Dollar, Pound, Euro, Yen, Franc).  But because the U.S. still has control over the global reserve currency, the narrative often is that all other currencies really don’t count.

For thousands of years gold been both a balance and a check on the avarice of men and governments when it comes to purchasing power.  And in a new report out this week, gold still continues to do so as 72 national currencies are now at, near, or above their all-time highs in relation to the price of gold.

Billionaire Sam Zell Buys Gold: Right Move, Wrong Reason

by Mish Shedlock, The Maven:

Investment guru Sam Zell is buying gold for the first time. Zell claims “Supply is shrinking.”

Gold’s dimming supply prospects have caught the eye of one billionaire.

“For the first time in my life, I bought gold because it is a good hedge,” Sam Zell, the founder of Equity Group Investments, said in a Bloomberg TV interview. “Supply is shrinking and that is going to have a positive impact on the price.