Saturday, July 20, 2019

Market Report: Gold Breaks Through

by Alasdair Macleod, GoldMoney:

This week has seen a dramatic extension of a rally in gold which started in earnest on 30 May. In the seven trading sessions since the 29 May, the gold price has risen over $50 to trade at $1333 in European trade today (Friday). Silver has lagged gold, rising 45 cents over the same time-scale to $14.87.

Behind the move is an official acceptance that the American and European economies are stalling, and that central banks stand ready to ease monetary policy. I have been warning that a combination of Trump’s trade tariffs and the end of the credit cycle is potentially the most serious economic crisis since the 1929-1932 Wall Street Crash. That possibility is revealing itself.

Mahathir’s Gold-backed Currency – Loose Talk or pan-Asian Plan?

by Ronan Manly, BullionStar:

While the non-stop flows of physical gold into countries such as China and India are a constant reminder to the world of the importance of gold to Asian societies, gold got a high-profile endorsement of another kind in Asia recently when Malaysia’s minister Dr. Mahathir bin Mohamad proposed a gold-backed regional currency for Asia.

Speaking in front of Asia’s leaders and media at the aptly named “International Conference on the Future of Asia” held in Tokyo on 30 May, the theme of this year’s conference was ‘Seeking a New Global Order – Overcoming the Chaos’, and Mahathir opened the conference with a keynote speech and dialogue session, losing no time in criticising the dangers of a US dominated unipolar world and the instability of the world’s reserve currency, the fiat US dollar.

Rob Kirby – Federal Slush Funds Working Their Magic

by Kerry Lutz, Financial Survival Network:

Rob Kirby believes that trillions of dollars have been created in a run up to the eventual demise of the dollar. Foreigners are aware of this situation and are starting to cut their losses. The reality is that the American people have been lied to on a vast scale. Rob believes it’s the source of most of the world’s geo-political problems. If nothing is done the system will collapse and the question becomes when.

Click HERE to Listen

* * BREAK-OUT: Gold To $1397…Silver Surges * *

from Silver Doctors:

Gold is staring down $1400 RIGHT NOW!!!

Update III (10:15 p.m. EST):

Gold is staring down $1400 right now:

Eight Reasons to Buy Gold Today, Part 1

by Nick Giambruno, Casey Research:

Justin’s note: If you read yesterday’s Dispatch, you know gold is ripping higher…

And as you’ll see today and tomorrow, this trend is only beginning.

Casey Report chief analyst Nick Giambruno recently laid out eight specific catalysts that will send gold on an epic rally… its biggest in 50 years.

He says we’re on the cusp of a new monetary era… one that will put gold back in its rightful place at the center of the international monetary system. And now is the time to take advantage.

A Tale of Three Cities

by Gary Christianson, Miles Franklin:

This is fiction but has similarities to the reality we think we know. Miles Franklin sponsored this article by Gary Christenson. The opinions are his.

City One: Debtapolis

In this fictional world a financial genius and his offspring executed a brilliant plan over several centuries.

a. The government authorized his bank to create and print paper money, backed by gold or silver.

b. The bank accepted gold, silver and other valuables as deposits into its vaults, and loaned paper money to governments, businesses, politicians, and individuals.

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.

WAR DRUMS BEATING LOUDER AND LOUDER AS IRAN SHOOTS DOWN A USA DRONE IN INTERNATIONAL WATERS

by Harvey Organ, Harvey Organ Blog:

GOLD AND SILVER FINALLY AFTER 6 YEARS OF TORMENT FROM OUR BANKERS BREAK OUT: GOLD ISU $47.95 TO $1393.10//SILVER IS UP 53 CENTS TO $15.51//HUGE MARGIN CALLS//MASSIVE VOLUMES AT THE COMEX/MORE SWAMP STORIES FOR YOU TONIGHT

Central banks are buying gold at the fastest pace in six years

by Simon Black, Sovereign Man:

Earlier this month the World Gold Council published its quarterly report– and it shows that central banks and foreign governments from around the world are buying up gold at their fastest pace in six years.

This is pretty big news, and it says a LOT about the future of the dollar.

Remember, central banks and foreign governments hold literally TRILLIONS of dollars of reserves… and traditionally they do this by buying US government debt.

It sounds strange, but to big institutions, banks, etc., US government debt is equivalent to cash. They use it as a form of money.

Keiser Report: Subjective Theory of Italian Lira (E1403)

from RT:

In the second half, Max interviews Dan Collins for his thoughts on the Trump-Xi meeting that may happen at the G20 Summit in Osaka. They discuss the trade war, which side is winning and/or losing, and how a peace deal might be reached.