from Brittany Pettibone:
by Dave Kranzler, Investment Research Dynamics:
If you have gold, you have money – If you don’t have gold, you have a problem – Alisdair Macleod
With the massive net short position in both gold and silver Comex paper precious metals, offset by the historic net long position of the “commercials” (banks, mining companies, users, hedgers), numerous rumors are swirling around the precious metals market. For certain, the availability of physical gold bars in London that can be delivered to the large eastern hemisphere buyers who demand delivery is growing tight. Apparently the retail silver coin/bar market is starting to feel supply strains.
by Wolf Richter, Wolf Street:
After the uproar about the Equifax hack, Congress did do something. And credit freezes are now a lot easier to place and lift.
Starting September 21, 2018, placing or lifting a “credit freeze” – aka “security freeze” – will be free for all Americans in all states. In response to the Equifax-hack uproar and the grassroots movement it triggered, after the personal data of nearly half of all adult Americans had been stolen, Congress passed a bill in May that contained a provision about credit freezes. This provision becomes effective in three days.
by Chris Marcus, Miles Franklin:
Warning all silver owners!
For those who believe in the premise that the precious metals markets, and silver in particular have been highly manipulated, perhaps the highlight of this past week was hearing J.P. Morgan CEO Jamie Dimon jokingly suggest that he would be a great fit for president.
Or at least better than Donald Trump.
Now to be fair, Dimon did not directly say that he is running for president. Or that he thinks he would get elected.
by Pam Martens and Russ Martens, Wall St On Parade:
Senator Orrin Hatch of Utah, who effectively conducted himself as Clarence Thomas’s attorney instead of as an impartial member of the Senate Judiciary Committee during Anita Hill’s testimony on October 11, 1991, is still using the strategy of “nut-shaming” women who accuse men of sexual misconduct. Yesterday, Hatch, still a member of the Senate Judiciary Committee that holds confirmation hearings for Supreme Court nominees, told reporters that Christine Blasey Ford, who has credibly accused Supreme Court nominee Brett Kavanaugh of sexual assault, is “mixed up.”
Adding to the outrage over Hatch’s statement is the fact that he made his “mixed up” remark about Ford before he heard her testimony, which is scheduled to take place before the Senate Judiciary Committee on Monday, with Kavanaugh also invited to testify.
by Brandon Smith, Alt Market:
Almost every aspect of the global economic downturn, which started ostensibly in 2007-2008 and is still ongoing to this day, can be traced back to the actions and policies of central banks. The Federal Reserve, for example, used artificially low interest rates and easy money to create a supposedly no-risk loan environment. This translated into a vast amount of toxic mortgage debt along with a web of derivatives (Mortgage Backed Securities) attached to that debt.
The Fed ignored all the signs and all the alternative analyst warnings. Agencies like S&P backed the Fed narrative that all was well as they gave AAA ratings to endless toxic market products. The mainstream media backed the Fed by attacking anyone that argued the notion that the U.S. economy was unstable and ready to falter. In that era of economics, the truth was effectively hidden from the public by the system through relatively standard means. Today, things have changed slightly.