Tuesday, February 25, 2020

John Rubino – The Silver Tsunami is Coming

by Kerry Lutz, Financial Survival Network:

John Rubino and I have been talking for years about the coming pension crisis. And now it’s almost here. 100’s maybe even 1000’s of government entities are in trouble.They won’t be able to meet their bloated pension commitments. This will increasingly lead to municipal bankruptcies. Right now states cannot file for bankruptcy, but no doubt Congress will soon change the law. Get ready!

Click HERE to Listen

The Russians Are On To Something: “NO ONE Can Lay Hands On Our Gold”

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from Silver Doctors:

Russian has made it known that every single ounce is accounted for and within Russia’s borders. And for good reason. Here’s the details…

Financial developments are coming in from Russia faster than we can absorb them.

Just to mention a few recent articles, there’s:

Russia ready to be cut off from SWIFT
Speculation China & Russia will combine to launch a new gold standard
Possible launch of the Russian Silver Rouble

There’s literally page after page of economic and geo-political news on using our Russia tag.

This article is fundamental in nature. It’s all about what is done in practice.

Avoiding the Obvious – Ted Butler

by Theodore Butler, Silver Seek:

A new interview by James McDonald, Director of Enforcement for the U.S. Commodity Future Trading Commission (CFTC), on Friday makes it clear that neither he nor the Commission has any intent to address the obvious manipulation of the silver market, conducted principally by JPMorgan. As a reminder, preventing manipulation is the primary mission of the CFTC.

https://www.cftc.gov/ click on podcast April 20, 2018

What you’ll hear is a self-congratulatory review of what a great job the agency is doing in terms of market manipulation in precious metals and how the agency welcomes and takes very serious and always follows up on all allegations to the fullest extent; even offering multi-million dollar rewards under its whistleblower program.

Frustrated by the Dormant Silver Price? Don’t Be, Says History, the Upsurge Is Coming

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by Jeff Clark, GoldSilver:

Frustrated by the comatose silver price? Tired of it going nowhere and being held down?

Well, history has a message for you: This trading behavior is normal. Furthermore, similar scenarios from the past say the next price explosion is on the way.

I know from past studies that silver doesn’t always shoot up when gold does, in spite of the fact that it almost always gains more than gold before the uptrend is over. I decided to put the data to a chart and see what it showed.

I listed gold’s five biggest bull markets, then added silver’s performance to see how closely it tracked gold throughout the uptrend. What it showed confirmed my suspicion: Silver usually (though not always) trails gold in the beginning stages of a bull market. Take a look.

Silver Tags A 16-Handle Just As Expected And That Can Only Mean One Thing (Or Two)

from Silver Doctors:

On Friday I said this would happen.

I warned that silver would hit a 16-handle, only I thought on Friday, but we hit it today.

Not many people read the article, so I’ll recap:

A ‘has-been’ trader who has been in the markets for way too long has now become a contrarian indicator. That’s my working theory anyway. I took a lot of heat for it because the guy has clout, and for some reason people still listen to him – but think of it another way: Does anybody really think Michael Jordan could come out of retirement today and keep kicking the young guys’ butts on the court today? Or that Steven Tyler can still carry a tune like he did in the 1970s? What supports my case is that not only is the famous trader somebody I consider a ‘has-been’ in the markets, but he is a stout price suppression/market manipulation denier.

LAWRIE WILLIAMS: Russia adds to gold reserves again in March

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by Lawrie Williams, Sharps Pixley:

China may continue to be telling the world that it has added zero to its gold reserves since October 2016, but Russia is still increasing its gold hoard on a monthly basis. Its official total gold reserve holding as reported to the IMF surpassed that of China a couple of months ago and continues to rise further with the central bank reporting another 300,000 ounces (9.33 tonne) increase in March bringing its official gold holding to around 1,890 tonnes, now getting on for nearly 50 tonnes more than China’s ‘official’ total of 1,842.6 tonnes.

There is speculation that, given the badwill between the two nations, Russia may dispose of some of the U.S.-denominated assets in its substantial Forex holdings replacing them with some other currency (the Chinese yuan for example) and gold (It may already have started this process). This would be a move that if followed by some other nations (notably China with its enormous forex reserves) could start to destabilise the U.S. economy which is very reliant on the global acceptance of the U.S. dollar as the world’s principal reserve currency..

Pimpin’ 101 – Wear Gold Suit to Wedding Reception

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by Peter Schiff, Schiff Gold:

A Pakistani man decided he wanted to make a big splash at his wedding, so he took pimping to the next level. He wore a gold suit complete with gold shoes and a gold tie.

I don’t mean gold-colored shoes and a gold-colored tie. I mean literally gold shoes and a gold tie – as in made out of gold.

Hafiz Salman Shahid showed up at his wedding reception wearing a gold suit encrusted with jewels and a gold tie embellished with gold crystals. He capped off the outfit with shoes made out of 320 grams of gold. According to one report I read, the tie contained about 100 grams of gold.

A Dollar Collapse – And Gold Revaluation – Is Inevitable

by Dave Kranzler, Investment Research Dynamics:

“Furthermore, in the main, historians educated as Keynesians and monetarists do not understand the economic history of money, let alone the difference between a gold standard and a gold-exchange standard. These similar sounding monetary systems must be defined and the differences between them noted, for anyone to have the slimmest chance of understanding this vital subject, and its relevance to the situation today…

…The pricing of financial assets, and today’s extraordinarily low interest rates indicate that a flight from the dollar is the last thing expected in financial markets. If they were still alive, de Gaulle and his economic advisor, Jacques Rueff, would be instructing the ECB, as successor to the Bank of France, to dump all dollars for gold immediately. And probably to dump all other foreign fiat currencies for gold as well. However, today, it is likely that other actors will blow the whistle on the dollar, such as the Chinese, and the Russians.”

Venezuela’s Gold Liquidation Accelerates; Will Be Out Of Gold In One Year

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from ZeroHedge:

On Friday, Turkey unveiled its latest unorthodox financial surprise, when a local newspaper reported that Ankara will repatriate all of its gold held at the NY Fed. The stated reason: an attempt to circumvent the dollar. “Why do we make all loans in dollars? Let’s use another currency” said Turkey’s president Recep Tayyip Erdogan during a speech at the Global Entrepreneurship Congress in Istanbul on April 16, according to Hurriyet. “I suggest that the loans should be made based on gold.

In what some saw an appeal for a gold standard by the Turkish president and a bid to sever ties with the US Dollar, Erdogan added that “with the dollar the world is always under exchange rate pressure. We should save states and nations from this exchange rate pressure. Gold has never been a tool of oppression throughout history.”

Turkey Takes Possession of 220 Tons of Gold Repatriated from Federal Reserve-Rory Hall

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by Rory Hall, Sprott Money:

This is about as underreported as it gets. A tiny, almost nonsexist report appeared in Trend.az news service on Thursday April 19 announcing that Turkey’s Central Bank had moved 220 tons of gold out of the Federal Reserve System to take possession in Turkey. Trend is also reporting that an additional 95 tons of gold is being moved out of the Federal Reserve and back to Turkey.

Remember, gold is not money and more akin to a barbarous relic that is only held by Central Banks as a tradition. Right. Then why are some central banks repatriating their gold out of the Federal Reserve as Turkey just did?

In an article by Rufiz Hafizoglu and published at Trend.az, a news service located in Azerbaijan, the Turkish government has reportedly taken possession of 220 tons gold that was repatriated from the Federal Reserve. Trend did not specify a government official nor a government agency simply reporting Turkey’s Central Bank has transferred its gold reserves stored in the US Federal Reserve System to Turkey. Turkey’s total gold reserves was the entire 220 tons Turkey reported to have taken possession of on April 19, 2018. The total current value represents approximately $25.3 billion.

The Shot Heard Round The World: Silver Just Took Control Of The Battlefield And Everybody Knows It

from Silver Doctors:

Friday Wrap: Um, so if you’re not on silver’s side, you might want to raise that white flag right about now. Silver is about to make things really messy…

This morning I asked if silver might test a 16-handle based on a new possible contrarian indicator? So far my theory is wrong, but either way, we’re down, and it hasn’t been an easy day to sit through.

But we need to look at the bright side – we’re above $17, and believe it or not, the momentum is ours. Now sure, there’s no way to give a post-game pep talk game after losing game, but things are looking up.

Don’t just take my word for it, but let the charts do the talking for you.