Sunday, April 21, 2019

China’s “weight” – Bill Holter

by Bill Holter, Miles Franklin:

A couple of topics for you today that are connected, obvious, yet not understood or even contemplated at this point. First, have you ever wondered why the names of many fiat currencies refer to “weight”? Such as the Peso, Peseta, Lira, or Pound amongst many others? This is similar to the names of various roads, like “Saw Mill Rd.”. It was named that because years ago there was actually a sawmill down the lane. These fiat currencies with “weighty” names started out as receipts for either gold or silver. They were convertible into a specific amount of metal when presented at a bank.

GOLD DOWN $3.40 TO $1288.30//SILVER DOWN ONE CENT TO $15.01

by Harvey Organ, Harvey Organ Blog:

TURKEY IS THE BIG STORY TODAY AS THE TURKISH LIRA PLUMMETED TO OVER 5.80 TO THE DOLLAR AS THEIR UNEMPLOYMENT RATE ROSE TO ALMOST 15% AND YOUTH UNEMPLOYMENT RATE CLOSE TO 27%//TURKISH CREDIT DEFAULT SWAPS ROSE TO RECORD LEVELS

GOLD: $1288.30 DOWN $3.70 (COMEX TO COMEX CLOSING)

Silver:  $15.01 DOWN 1 CENT (COMEX TO COMEX CLOSING)

When Politicians and Central Banks clash – the Gold of Romania and Italy

by Ronan Manly, BullionStar:

Central bank gold holdings are rarely out of the news these days, from continued gold accumulation by Russia and China, to secretive gold sales by the central bank of Venezuela.

But beyond these buy and sell transactions, central bank gold reserves are making headlines in other ways, as governments and central banks clash over ownership and control of their national gold holdings.

Two prime examples in this space right now are the gold repatriation legislation making its way through the Romanian parliament, and the moves by Italian politicians to clarify who actually owns the Italian gold reserves, the central bank of Italy or the nation’s citizens.

Production Plunges for World’s Largest Silver Miner in Q1

by Peter Schiff, Schiff Gold:

The world’s largest primary silver producer reported a plunge in production in the first quarter of the year, continuing a global trend of declining silver output.

Total silver production at Fresnillo PLC dropped by 15% in Q1. The company blamed falling mine output on lower ore grades and reduced volume of processed ore.

Fresnillo ranks as the world’s largest producer of silver from ore.

Time to Become a Hindu

by Jeff Thomas, International Man:

For centuries, East Indians have regarded gold as the primary source of wealth. All Indians own gold if they can afford to. They keep it as close as possible, sometimes in coin form, but often as jewellery, since “wearing wealth” means that it can be kept very close. They’re often especially reluctant to trust banks to hold their gold.

Hindus make up 80% of India’s population and, to Hindus, gold is sacred. Lakshmi (pictured above) is the Hindu goddess of purity, prosperity and good fortune. Her symbol is gold, so gold plays an important part in Hindu ceremonial occasions and Hindus donate large amounts of gold to the temples in Lakshmi’s name.

World’s Largest Primary Silver Miner Production Plunges

by Steve St. Angelo, SRSRocco Report:

Silver production at the world’s largest producer fell significantly in the first quarter of the year.  Fresnillo PLC reported a decrease in silver production in Q1 2019 versus the same period last year, due to lower ore grades and reduced volumes of processed ore at its Fresnillo Mine.

Furthermore, while silver production fell the most at its Fresnillo Mine, the company also experienced declines at its Saucito and San Julian Mines. Total silver production at Fresnillo PLC dropped by 15% in the first quarter compared to the same quarter in 2018.

Keiser Report: The Failure of Capitalism or Monetarism? (E1370)

from RT:

In the second half, Max continues his interview with professor and author Steve Keen about the failure of negative interest rates, the promise of a Green New Deal or a Trump infrastructure package, and about Ray Dalio’s failure of capitalism claims.