Monday, April 22, 2019

BANK ASSETS ARE EPHEMERAL – HERE TODAY GONE TOMORROW

by Egon Von Greyerz, Gold Switzerland:
It is not only paper gold which is Fake. Few investors realise that most of their investments are Fake.

Fake news and Fake assets are everywhere. Let’s start with social media which dominates major parts of the world. Facebook for example has 2 billion active users. WhatsApp has 1.2 billion users and Instagram 700 million. There will obviously be quite a lot of overlap between the various social media. But what it is clear that these three Apps reach billions of people and their power is much bigger than that of any other media; Social Media has more impact than newspapers or than television and is the only media that 2-3 billion people follow regularly. Most people and in particular young people don’t watch television and don’t read the papers. They get all their “news” from social media.

The Fed Has Hit the ‘Pause’ Button

by Jim Rickards, DailyReckoning:
Last week the Fed raised the white flag on further rate hikes. There won’t be any for the foreseeable future.

No rate hikes are coming at the July, September or November Fed FOMC meetings. The earliest rate hike might be at the December 13, 2017 FOMC meeting, but even that has a less than 50{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} probability as of today. I’ll update those probabilities using my proprietary models in the weeks and months ahead.

The white flag of surrender came in two public comments by two of the only four FOMC members whose opinions really count. The four voting members of the FOMC worth listening to are Janet Yellen, Stan Fischer, Bill Dudley and Lael Brainard.

ANOTHER HUGE 5.32 TONNES OF GOLD WITHDRAWAL FROM THE GLD DESPITE GOLD’S SMALL ADVANCE/NO CHANGE IN SILVER INVENTORY AT THE SLV

FOR THE LAST 4 DAYS: 16.26 TONNES OF GOLD HAVE BEEN WITHDRAWN DESPITE GOLD’S RISE OF $24.26/USA ALLY RELEASES TO RUSSIA LOCATION OF USA AIR BASES IN SYRIA: AT RISK 3 MILLION MIGRANTS HOUSED IN TURKEY
from Harvey Organ:

In silver, the total open interest ROSE BY A HUGE 2936 contract(s) UP to 209,689 WITH THE HEALTHY RISE IN PRICE THAT SILVER TOOK WITH YESTERDAY’S TRADING (UP 16 CENT(S).TODAY WE HAD NEW SPECULATOR LONGS ENTER THE MARKET WITH THE BANKERS SUPPLING THE NECESSARY PAPER. THE BANKERS ARE HAVING AN AWFUL TIME TRYING TO SHAKE THE SILVER LEAVES FROM THE SILVER TREE.

In ounces, the OI is still represented by just OVER 1 BILLION oz i.e. 1.049 BILLION TO BE EXACT or 150{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} of annual global silver production (ex Russia & ex China).

FOR THE NEW FRONT MAY MONTH/ THEY FILED: 32 NOTICE(S) FOR 160,000 OZ OF SILVER

In gold, the total comex gold FELL BY 1662 CONTRACTS DESPITE THE RISE IN THE PRICE OF GOLD ($7.50 with YESTERDAY’S TRADING). The total gold OI stands at 484,204 contracts. THE BANKERS ARE STILL LOATHE TO SUPPLY THE GOLD PAPER AND WISH TO COVER MORE OF THEIR SHORTS. SOME NEWBIE SPEC LONGS STARTED TO ENTER THE GOLD COMEX ARENA AGAIN. THE PLETHORA OF DATA RELEASED ON FRIDAY SHOWING RETAIL SPENDING BASICALLY COLLAPSING ALONG WITH SMALLER INFLATION NUMBERS MUST BE SCARING OUR BANKERS TO DEATH.

Read More @ Harveyorganblog.com

Millennials Can Punt On Bitcoin, Own Gold and Silver For Long Term

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by Mark O’Byrne, Gold Core:
– Bitcoin volatility shows not currency or safe haven but speculation
– Volatility still very high in bitcoin and crypto currencies (see charts)
– Bitcoin fell 25{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} over weekend; Recent high of $3,000 fell to below $1,900
– Bitcoin least volatile of cryptos, around 75{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} annualised volatility
– Gold much more stable at just 10{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} annualised volatility
– Bitcoin volatility against USD about 5-7 times vol of traditional forex trading
– Cryptos remain subject to huge speculation with little fundamental analysis
– Despite major differences many crypto currencies correlated, mimic one another
– Extreme hype – bitcoin expert bets will eat own body part on national television
– Millennials can punt on bitcoin, should also own gold and silver for long term
– Cryptos mere ‘babies’ when compared to time tested gold and silver

Should you own bitcoin or gold? That’s easy

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by Tama Churchouse, The Daily Bell:
Gold bugs are rarely, if ever, bearish on gold. To them, it’s the only real currency in a world of money-printing central banks endlessly devaluing their fiat (that is, paper) currencies. There are few people who believe so fervently as gold bugs.

But bitcoin fanatics come pretty close. These folks believe that this decentralised digital currency is the ultimate means of easily transferring value without the need for centralised entity, intermediary, or central bank. Bitcoin is a libertarian dream.

Now, given that gold bugs and bitcoin fanatics share a common desire – a completely independent store of value – and a common enemy (central banks), you’d think they might be the best of friends. But they’re not.

CLOSE TO NEW GOLD STANDARD? Australia Exports Record Amount Of Gold To China

by Steve St. Angelo, SRSRocco Report:
Are the Chinese getting close to announcing a new gold-backed currency? Well, if the record amount of Australian gold exports into China is an indicator, it may be close at hand. While the Chinese have been importing a lot of gold from Australia, it reached a new record high in 2017.

According to the recently released data by the Australian Government June 2017 Resources and Energy Quarterly, Australia exported more gold to Hong Kong and China during the first quarter of 2017 than any other quarter in history.

Australian gold exports to Hong Kong and China were 54{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} higher Q1 2017 versus the same quarter last year:

PiMBEEB-A-LOOZA Statistics That Will Blow Your Mind!

by Andy Hoffman, Miles Franklin:
Despite being extremely adverse to near-term “predictions,” I have lately been as vehement, and persistent, as ever in stating that this is, in my very strong view, the best Precious Metal buying opportunity of our lifetimes – particularly, now that the COMEX “commercials” have reduced their (naked) gold and silver short positions to their lowest levels since Precious Metals’ ultimate bottom in December 2015.

Frankly, the only comparable situation I can recall is the bottom of the Cartel-orchestrated paper plunge at the commencement of the 2008 crisis – which has an “asterisk” next to it, given that physical premiums surged to roughly 30{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in gold, and 100{5f621241b214ad2ec6cd4f506191303eb2f57539ef282de243c880c2b328a528} in silver. Only this time, supply on the retail level is readily available, and premiums historically low; as opposed to the worldwide wholesale market, where supplies have never been tighter. In other words, the historic Precious Metal valuation anomalies currently seen in the West; which I personally have been taking advantage of – particularly in the gold numismatic market, where prices of century-old certified coins have fallen to barely above the levels of newly minted ones; are decidedly not available in the East. And likely, won’t be in the West for very much longer.

Thoughts On Gold

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by Gary Christenson, Deviant Investor:
From Jim Richards’ Strategic Intelligence:

“Russia and China are well-positioned to execute the greatest gold short squeeze in history. Of course, they have no interest in doing so right now because both are still buyers who favor low prices. At some point, they will flip to hoarders who favor high prices, but not yet.”

From Hugo Salinas Price:

“The present monetary system of the world, based on the dollar, is on its death-bed. A fiat currency – such as the dollar – cannot be replaced by another fiat currency, he explains. Therefore the world will necessarily have to take up [precious metals] as the world’s money.”

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From Steven Warrenfeltz of www.free-bullion-investment-guide.com

Gold and Silver Are Moving Back Up