Thursday, August 22, 2019

Russia Sold 85% of US Treasury Securities Last Year –– They Own Over $100 Billion in Gold

from Humans Are Free:

Russia’s gold reserves rose to more than $100 billion thanks to rising gold prices and the country’s efforts to boost its bullion holdings. In June alone, Russia added more than 18 tons of the precious metal.

June’s gold purchases brought Russia’s gold reserves to a total of 2,208 tons, according to the latest data released by the Central Bank of Russia (CBR). This meant Russia was sitting on a mountain of gold valued at $100,277.6 million as of July 1, the CBR report shows.

FOUR MAJOR ENTITIES IN TROUBLE THIS WEEK I) HSBC II) ARGENTINA III) DEUTSCHE BANK IV) GENERAL ELECTRIC

by Harvey Organ, Harvey Organ Blog:

OUR USUAL AND CUSTOMARY GOLD AND SILVER RAID ON A FRIDAY/GOLD DOWN $7.35 TO $1513.20//SILVER DOWN 9 CENTS TO $17.15//OPEN INTEREST IN SILVER FALLS AT THE COMEX BY TIME DESPITE NO REAL APPRECIABLE CHANGE IN PRICE: WE HAD SOME BANKER SHORT COVERING IN SILVER //QUEUE JUMPING CONTINUES FOR BOTH GOLD AND SILVER AT THE COMEX//IN A NON DELIVERY MONTH A MASSIVE 10 MILLION OZ OF SILVER IS STANDING FOR DELIVERY/GERMANY MAY GO INTO DEFICIT SPENDING TO STIMULATE THE ECONOMY//FOUR MAJOR ENTITIES IN TROUBLE THIS WEEK I) HSBC II) ARGENTINA III) DEUTSCHE BANK IV) GENERAL ELECTRIC// LOTS OFSWAMP STORIES FOR YOU TONIGHT

The Bull vs. Bear Case for Gold – David Brady (15/08/2019)

by David Brady, Sprott Money:

BULL CASE

TREND

Gold continues to set higher and higher lows on a daily and weekly basis. The trend is clearly up, and until some kind of support is broken, the trend must be respected.

The first such support on a daily basis is at 1488. Then it’s 1400, and 1300 below there.

On a weekly basis, we need to go all the way back to critical support at 1267 for a potential change in the overall trend.

Resistance is at the recent high of 1546 and 1588, the 61.8% Fibonacci retracement of 1923 to 1045, the peak in 2011 and trough in 2015, respectively.

REPLY TO HARRY DENT: If Gold Is In A Bubble, Then Mine Supply Must Come From The Tooth Fairy

by Steve St. Angelo, SRSRocco Report:

Harry Dent says gold is in a bubble, and according to his analysis, warns that it could go back down to $700.  If the gold price were to crash lower to $700, as Dent forecasts, then 50+% of the gold mining industry would have to shut down.  Why?  Because the top gold miners total cost of production is now above $1,200 an ounce.

Of course, Harry Dent doesn’t take into consideration what it cost to produce gold as he pays no attention to the impact of ENERGY on the market.  He, like many analysts, must believe that gold comes from the Tooth Fairy. And, maybe we can’t blame them as the world has taken energy for granted.  Unfortunately, the overwhelming majority of economists and financial analysts do not incorporate energy into their forecasts.  Thus, most of the market analysis today is seriously flawed.

Silver prices with explosive upside

by Alasdair Macleod, GoldMoney:

Silver prices have lagged gold prices since 2017 which has pushed the gold-to-silver ratio close to the all-time high. Silver prices are also significantly below what is predicted by our pricing model. We think that the reasons for this subdued performance are transitory and that silver will outperform gold again as the next precious metals cycle continues to rapidly unfold. 

In spring 2017, we introduced a framework for understanding the formation of silver prices (Silver price framework: Both money and a commodity, March 9, 2017). In this report we are going to use this framework to analyze the recent performance of silver and give an outlook for where we think silver is heading over the coming months. In our framework piece, we concluded that silver is both money (store of value) and an input commodity and thus the impact of both industrial and monetary demand needs to be taken into consideration:

ECB PLANNING A MAJOR STIMULUS IN SEPTEMBER AND THAT FRIGHTENED THE EUROPEAN BANKS AND THE EURO

by Harvey Organ, Harvey Organ Blog:

RAID ON GOLD AND SILVER FAIL AGAIN EVEN THOUGH THE DOW REGAINS 100 POINTS OF ITS LOSS YESTERDAY: GOLD UP $3.55 TO $1520.75//SILVER LOSES 2 CENTS TO $15.24//GLD GETS BACK A HUGE 7.63 TONNES OF PAPER GOLD LOST YESTERDAY..WHAT CROOKS!!//VOLUMES AT THE SILVER COMEX ARE BECOMING SURREAL AT 100,00 PLUS EVERY SINGLE TRADING DAY//CHINA’S MOUTHPIECE IS HOPING THAT TRUMP WILL MEET CHINA HALF WAY: TRUMP STATES IT IS EITHER HIS WAY OR NO WAY//ECB PLANNING A MAJOR STIMULUS IN SEPTEMBER AND THAT FRIGHTENED THE EUROPEAN BANKS AND THE EURO:THIS WOULD PUT EUROPE DEEPLY INTO NEGATIVE RATES AND THUS GOOD FOR GOLD AND SILVER//ARGENTINA TOTALLY COLLAPSES WITH THE PESO OVER 60 TO ONE AND THE BOND PRICES FALTER TERRIBLY//JEFFEREY EPSTEIN MOST LIKELY WAS STRANGLED AND THUS NOT A SUICIDE..MORE TESTS NEED TO BE DONE

THE GOLD BULL IS ALIVE AND KICKING

by Egon Von Greyerz, Gold Switzerland:

Maecenas was a well known benefactor in Rome for Horace and others. His name has come to mean benefactor, in many languages called a mecenate.

The loss of a benefactor can be very serious for anyone on the receiving end of his alimonies. For a century, the world has had the most generous group of benefactors ever. These benefactors have created immense wealth in the world. Even better, they did it without any major effort. All that was required was a printing machine combined with some book keeping wizardry.

48 Years After Nixon “Temporarily” Closes The Gold Window On Sunday, August 15th, 1971

from Silver Doctors:

The negative impacts of going onto a fully debt-based fiat currency monetary system are still being felt today…

by Patrick V. of SBTV

August 15 2019 marks the 48th anniversary of President Nixon’s ‘temporary’ closure of the gold window in 1971. Also known as The Nixon Shock, this event effectively severed the US dollar’s link to gold on the international monetary stage.