by In my last newsletter, which you can subscribe to here, I stated that one should not be misled by the immediate gold and silver price movements that result from the geopolitical instability around North Korea, as the intra-day volatility in gold and silver prices caused by geopolitics will not change either the short-term price […]
In July I wrote a piece titled, “Is the real US Dollar Pain Trade Lower?”. At the time the US dollar was sucking wind, but many traders were still playing for a bounce. The prevailing wisdom was that the Fed’s tighter monetary policy, combined with Trump’s business acumen, along with a tax reform bill, and […]
In further growing signs that both China and Russia are accelerating moves to de-dollarise we note that Vladimir Putin has instructed his government to approve legislation which will make the Ruble the principal currency of exchange at all Russian seaports, potentially within a matter of months. The post Russia Continues To Take a Wrecking Ball […]
Should Catalonia be independent? Surely Catalans must answer that question. Some Catalans consider themselves Spanish and some don’t. Many Spaniards consider Catalonia part of Spain, while some don’t. But it’s clear that a significant number of Catalans feel politically conquered, and resent it. Why should they live under a Spanish government, when their history, culture, […]
Snippet: Gold edged up to $1310.60 in midmorning New York trade before it fell back to $1305.40 in early afternoon action, but it then shot back higher into the close and ended near its late session high of $1311.70 with a gain of 0.21%. Silver rose to as high as $17.326 and ended with a […]
This post Big Brother Is Coming for Bitcoin appeared first on Daily Reckoning. Interest in bitcoin is red-hot right now. It’s impossible to open a website, listen to a podcast or watch a video in the financial space without hearing about the meteoric rise in the price of bitcoin. I know about the bitcoin frenzy […]
The media likes to use some, but not all, geo-political events as a theme for why gold moves up or down in price. And the most recent one was the potential threat of North Korea forcing the West’s hand into engaging in a conflict. However, there is often much more to the story when a […]
On Sept. 18, an official from China’s central bank announced that the country is in the process of looking at market rules to determine how best to start selling all commodities in the Yuan currency, rather than in the global standard of U.S. dollars. This move comes just weeks after an announcement by the Shanghai […]
The global move to end the uni-polar reserve currency known as dollar hegemony is continuing to grow at a rapid clip as on Sept. 19, Russian President Vladimir Putin is pushing parliament to no longer accept the dollar at all seaports under Russian control. As with many international ports of call such as airports which […]
September 19, 2017 As the Western world continues to slide into the dust bin of history, it is not going without a fight. As with any “wounded animal”, once the reality of pain permeates the body, it typically lashes out at anything or anyone within arms’ reach. In the case of the Western world, arms’-reach […]
Although the shift to ETFs over the past ten years has been dramatic—since the start of 2008, the industry has attracted nearly $2.8 trillion in investment dollars (according to the Investment Company Institute)—Vanguard chief executive Bill McNabb told The Financial Times that he doesn’t see this as a “systemic” trajectory indicative of a market bubble. […]
September 19, 2017 Previously, we have discussed the issue of a currency’s backing . From comments and emails, we realize this topic could use a bit more illumination. And there are some related concepts that should be addressed at the same time. Let’s start with an analogy, the engineering concepts of accuracy and precision. These […]
Mining reforms in Brazil are raising the cost of operating without generating increased interest in investing in the sector, an executive for world’s largest iron ore producer Vale said on Monday. Brazil President Michel Temer issued decrees in July to boost mining royalties, create a new industry regulator and streamline regulations, arguing that efficient and […]
September 19, 2017 A consultant to GATA (Gold Anti-Trust Action Committee) brought to our attention the fact that gold swaps at the BIS have soared from zero in March 2016 to almost 500 tonnes by August 2017 ( GATA – BIS Gold Swaps). The outstanding balance is now higher than it was in 2011, leading […]
Shares in Petra Diamonds (LON:PDL) dropped almost 6% Tuesday after the company reported fresh labour disruptions at two of its mines in South Africa, amid talks to reach a new wage agreement. Petra revealed there had been disruption at its Finsch mine and Kimberley joint venture operations since Monday night. Workers at Petra’s Finsch mine and […]
This post This Puzzling Breakout is Back on Track… appeared first on Daily Reckoning. It’s been one of the most difficult breakouts we’ve tracked this year. Yet despite all the waiting and false starts, small-cap stocks are once again ripping higher. So we have to ask: Are we finally witnessing the signs of an epic […]
Peruvian farmer Máxima Acuña de Chaupe, a vocal opponent to Newmont Mining’s (NYSE:NEM) activity in her home country, is now suing the company in a US federal court over allegations it used violence and threats to try evicting her from her home to make way for its Conga gold and copper project. The suit filed […]
THERE’S been a rise in tensions among South Africa’s mining unions, and its labour in general, this month following volatility at the Kimberley mines of Petra Diamonds, shootings at the Lonmin and Impala Platinum (Implats) operations in Rustenburg, and strike activity at Exxaro Resources’ Goedgeluk and Leeuwpan mines in the Limpopo and Mpumalanga provinces respectively. […]
Jim Grant podcast: 100 year bonds, bitcoin, Tesla, inflation & Fed policy Grant’s Interest Rate Observer Podcast, Released on 9/18/17 Topics: 1:30 #Austria floats a 100-year bond 3:24 Limited supply of #bitcoin? 4:24 #Tesla promises one million cars per year 7:30 Five year/five year #Euro inflation swap rate 12:58 Hawkish hints 16:40 Half-empty #FOMC Disclaimer: […]
DeutscheBank Jim Reid: “We think the final break with precious metal currency systems from the early 1970s (after centuries of adhering to such regimes) and to a fiat currency world has encouraged budget deficits, rising debts, huge credit creation, ultra loose monetary policy, global build-up of imbalances, financial deregulation and more unstable markets.” LINK HERE […]