Monday, June 17, 2019

The Italian Job – Precious Metals Supply and Demand

by Pater Tenebrarum, Acting Man:

Lira Comeback?

The price of gold jumped 35 bucks last week, and that of silver 48 cents. The dollar is now down to 23 milligrams of gold.

Keith is on the road this week, so we will just comment on one thing. If Italy is serious about moving back to the lira, that will make the euro less sound (to say nothing of the lira). That will drive people mostly to the dollar, but also to gold.

DEPT OF JUSTICE RELEASES A LETTER SENT TO NADLER STATING THEIR PROBE WILL BE FAR REACHING!!

by Harvey Organ, Harvey Organ Blog:

GOLD UP $1.65 TO $1325.50//SILVER IS UP 10 CENTS TO $14.76/MORE SWAMP STORIES FOR YOU TONIGHT

GOLD: $1325.50 UP $1.65 (COMEX TO COMEX CLOSING)

Silver: $14.76 UP 10 CENTS (COMEX TO COMEX CLOSING)//

Closing access prices:

Gold : $1327.00

Keiser Report: A Five Cent Cola and Gold (E1395)

from RT:

In the second half, Max interviews Alasdair Macleod of Goldmoney.com for his thoughts on the gold market as the US Federal Reserve chairman calls for the end of the use of the word ‘unconventional’ when referring to QE and other new monetary policy tools. They discuss whether or not interest rates will go to zero in the US as billionaire investor Stan Druckenmiller believes and what happens, in that case, to Europe where over $10 trillion worth of bonds have a negative yield.

KeyBank Bans Gold Bullion from “Safe” Deposit Boxes

from Silver Doctors:

For any stacker who still trusts a bank to store their phyzz, a KeyBank “safe” deposit box is no longer one…

This is hard to read but gold fans will want to blow this up and read it if you have gold in a safe deposit box. Keybank says that it is not allowed as of August 9th:

SILVER PRICE UPDATE: For Silver To Head Higher, This Is A Key Level

by Steve St. Angelo, SRSRocco Report:

Even though the silver price has sold off today, it doesn’t mean the rally that started two weeks ago is over.  While the silver price was down more than 40 cents today, it may be retesting a support level before heading higher.  However, it doesn’t help that it took two weeks for silver to go up more than 70 cents, but then fall 30+ cents today.

Regardless, traders and algorithms follow certain technical price levels.  Thus, the silver price was trading in a falling wedge pattern for the past four months before breaking out of that trend last week. Typically, a falling wedge pattern is bullish. Yes, it sounds counter-intuitive, but falling wedges are more bullish to the price action while rising wedges are bearish.

Inflation Ghosts: Past, Present & Future

by Gary Christianson, Miles Franklin:

Individuals dream about winning the lottery, stock market profits, reducing debt, earning more income, attractive sex partners, and tasty food. But our dreams can turn into nightmares filled with inflation ghosts and monsters.

The derivative monster is a destroyer. Deutsche Bank stock closed at $6.76 on June 7, 2019, down from over $100 in 2007. A repeat of 2007 is possible.

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The Ghost of Inflation Past devastated many countries. Heavy debt chains clanked as the ghost walked. He wept knowing the human destruction that inflation and hyperinflation created during the past century, and that more inflation lies ahead.

CHINA ADDS ANOTHER 16 TONNES OF GOLD INTO ITS OFFICIAL HOARD

by Harvey Organ, Harvey Organ Blog:

GOLD DOWN $16.40 TO $1325.50//SILVER DOWN 38 CENTS TO $14.66 AS OUR BANKERS ORCHESTRATED A RAID//GLD LOSES ANOTHER 1.17 TONNES OF GOLD//CHINA’S EXPORTS TO THE USA SLOWS DOWN DRAMATICALLY/SUPPOSEDLY THE MEXICO SIGNS A DEAL WITH THE USA TO HELP WITH ILLEGAL IMMIGRATION//MORE SWAMP STORIES TONIGHT