Category Archive: 6a) Gold & Monetary Metals

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Global Economy Faces ‘Scary Situation’ – Billionaire Investment Manager Dalio Warns

2019-11-01

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2019-11-01

Likely to have a downturn while “there is not effective monetary policy and that is a ‘scary situation’ – Billionaire Investment Manager Ray Dalio

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Why Nobody Chants “End the Fed” Anymore

2019-10-30

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2019-10-30

Americans hated it when the Federal Reserve handed trillions of dollars to crooked Wall Street banks following the 2008 Financial Crisis. Politicians were confronted about the merits of central banking and bailouts. For the first time in history, college students were chanting “End the Fed” at campaign rallies as Ron Paul took the central bank to task during his presidential campaigns.

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Trump Pumps Market With Trade Talks, Stocks Move Higher, Gold Lower

2019-10-30

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2019-10-30

Sue Trinh, Managing Director of global macro strategy at Manulife Investment Management, speaking on Bloomberg. She had some interesting comments regarding the current market structure, in the shadow of the FED, which is expected to drop rates yet again.

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Bitcoin Myths, Report 27 Oct

2019-10-28

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2019-10-28

Keith gave a keynote address—the only speaker with an hour to cover his topic—at the Gold and Alternative Investments Conference in Sydney on Saturday. Said topic was the nature of money. “Money is a matter of functions four: a medium, a measure, a standard, a store.”

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Bundesbank Buys Gold – Increasing Concerns About Deutsche Bank, European Banks, the Euro and Dollar

2019-10-25

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2019-10-25

German Gold Holdings MoM, 1999-2019
◆ The End Of Fiat In One Chart?◆ For the first time in 21 years, Germany has openly bought gold into its reserve holdings◆ With ECB mutiny and Deutsche Bank’s rapid demise, fears are rising of a looming financial crisis, and with that, Germany has shown a renewed interest in gold

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Bitcoin billionaire twins to address St Moritz crypto event

2019-10-24

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2019-10-24

Cameron and Tyler Winkelvoss, who made a fortune out of bitcoin, are to deliver a keynote speech at next year’s Crypto Finance Conference in St Moritz. The annual gathering of cryptocurrency entrepreneurs and investors has become a fixture event, running just before the World Economic Forum’s flagship Davos summit.

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JPMorgan Warns U.S. Money Market Stress to ‘Get Much Worse’

2019-10-24

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2019-10-24

Spot Gold Price
◆ Severe funding pressures in U.S. money markets tipped to resurface heading into year-end by JPMorgan who warn that financial stresses are likely to ‘get much worse’ ◆ Goldman Sachs and Bank of America also warn funding issues remain (see below) ◆ Federal Reserve will start buying $60 billion of Treasury bills every month ◆ Funding markets are on notice for a possible year-end liquidity crunch

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Germany Increase Gold Reserves In September For The First Time In 21 Years – IMF

2019-10-24

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2019-10-24

Germany Gold Reserves
◆ The gold reserves of the German Bundesbank rose in September for the first time in 21 years; German gold reserves rose to 108.34 million ounces in September from 108.25 million ounces last month◆ It was the Germany’s first gold purchase since 1998 and while the amounts are not huge at 90,000 troy ounces, it highlights the Bundesbank and German concerns about the global monetary system and euro itself as Christine Lagarde takes over the ECB

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Yes, Gold “Just Sits There” and That’s Quite a Feat

2019-10-23

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2019-10-23

The Wall Street Journal’s Jason Zweig famously referred to gold as a “Pet Rock” in 2015. He was blasted by people who understand that gold is no passing fad, and it serves some very important roles in an investment portfolio. The valuable roles played by gold have been well covered here. It’s a hedge against both inflation and deflation, it represents true diversification for portfolios stuffed with conventional securities, and it is a way of...

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Wealth Accumulation Is Becoming Impossible, Report 20 Oct

2019-10-22

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2019-10-22

Gold and Silver Prices
We talk a lot about the falling interest rate, the too-low interest rate, the near-zero interest rate, the zero interest rate, and the negative interest rate. Hat Tip to Switzerland, where Credit Suisse is now going to pay depositors -0.85%. That is, if you lend your francs to this bank, they take some of them every year. Almost 1% of them.

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IMF Warning: ‘World’s Financial System Is More Stretched, Unstable and Dangerous Than It Was On the Eve of the Lehman Crisis’

2019-10-20

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2019-10-20

The International Monetary Fund (IMF) has again warned that the world’s financial system is more stretched, unstable and dangerous than it was on the eve of the Lehman crisis. Quantitative easing, zero percent interest rates and massive financial repression has pushed investors – and in the case of pension funds or life insurers, actually forced them – into taking on ever more risk.

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Libra cryptocurrency soldiers on despite key departures

2019-10-17

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2019-10-17

Facebook’s cryptocurrency payments project, Libra, has suffered a major blow with the withdrawal of seven key partners. But the Geneva-based Libra Association continues to battle on against a regulatory onslaught by adopting a charter and forming an executive team.

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Dutch Central Bank: Gold Bars ‘Always Retain Their Value, Crisis Or No Crisis’

2019-10-17

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2019-10-17

DNB's gold stock
◆ “Gold is the perfect piggy bank – it’s the anchor of trust for the financial system” says the Central Bank of the Netherlands ◆ “If the system collapses, the gold stock can serve as a basis to build it up again” astutely and prudently observes the Dutch Central Bank ◆ The Dutch people “hold more than 600 tonnes of gold. A bar of gold always retains its value, crisis or no crisis”

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Motte and Bailey Fallacy, Report 13 Oct

2019-10-15

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2019-10-15

Gold and Silver Prices
This week, we will delve into something really abstract. Not like monetary economics, which is so simple even a caveman can do it. We refer to a clever rhetorical trick. It’s when someone makes a broad and important assertion, in very general terms. But when challenged, the assertion is switched for one that is entirely uncontroversial but also narrow and unimportant.

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Gold ETFs See Holdings Reach All Time Record Highs In September

2019-10-10

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2019-10-10

Gold-backed ETFs holdings, 2004-2018
◆ Global gold ETF holdings reach all time record highs, increasing by 13.4% so far in 2019 on hedging and safe haven demand. ◆ Global gold ETFs, ETCs and similar products had US$3.9bn of net inflows across all regions, increasing their collective gold holdings by 75.2 tonnes(t) to 2,808t, the highest levels of all time in September.

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China’s Central Bank Buys 100 Tons Of Gold As Trade and Dollar Tensions With U.S. Escalate

2019-10-09

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2019-10-09

Spot Gold Price USD
◆ China has added more than 100 tons of gold bullion bars to its gold reserves since it resumed buying in December; China’s gold holdings rose to 62.64m ounces in September, an increase of 190,000 ounces in one month. ◆ The People’s Bank of China (PBOC) increased it’s gold reserves for a 10th straight month in September, reinforcing its standing as one of the major official accumulators as many creditor nation central banks stock up on the precious...

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Chinese Buy Gold In Large Volume In Holiday Week as Gold Jewelry Sales ‘Soar’

2019-10-08

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2019-10-08

Spot Gold Price USD
Gold is marginally lower today at $1,503/oz and stocks are mixed ahead of what are set to be tense U.S. and China trade negotiations. Gold sales are expected to accelerate through the end of the year due to weakening global economic conditions, according to Mike McGlone, a Bloomberg Intelligence senior commodity strategist as quoted by China Daily (see below).

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A Wealth Tax Consumes Capital, Report 6 Oct

2019-10-07

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2019-10-07

Gold and Silver Prices
It seems one cannot make a name for one’s self on the Left, unless one has a proposal to tax wealth. Academics like Tomas Piketty have proposed it. And now the Democratic candidates for president in the US propose it too, while Jeremy Corbyn proposes it in the UK. Venezuela finally added a wealth tax in July.

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The Purchasing Power of Capital, Report 29 Sep

2019-10-01

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2019-10-01

Gold and Silver Prices
We discuss capital consumption all the time, because it is the megatrend of our era. However, capital consumption is an abstract idea. So let’s consider some concrete examples, to help make it clearer. First, let’s look at the case of Timothy Housetrader. Tim has a small two-bedroom house. Next door, his neighbor Ian Idjit, owns a four-bedroom house which is twice the size.

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World’s Largest Gold ETF Sees Holdings Rise 1.8 percent to 924.94 Tonnes In One Day

2019-09-28

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2019-09-28

Spot Gold Price USD
◆ Gold prices have inched 0.3% higher today as a sharp drop of nearly 2% yesterday has attracted bargain hunters. ◆ Gold tested support at $1,500/oz after another peculiar sell off in the futures market saw prices fall $30 in two hours on the COMEX yesterday with most of the selling coming after European and London markets had closed.

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