Precious metals news

Jim Rickards on what yesterday’s Fed announcement really means for interest rates, despite “expert” opinion...

Ronnie Stoeferle,CMT on Twitter

Earlier this month, the US threatened to lock China out of the dollar system if it doesn't follow UN sanctions on North Korea. Treasury Secretary Steven Mnuchin threatened this economic nuclear option during a conference broadcast on CNBC.
If China doesn’t follow these sanctions, we will put additional sanctions on them and prevent them from accessing the US and international dollar system, and that’s quite meaningful.”
The threat may be meaningful, but it also might be empty.

Toys R Us filed for bankruptcy earlier this week, a wicked head-shot to a retail sector that's been reeling for months.
The TRU filing ranks as the second-largest US retail bankruptcy ever, according to S&P Global Market Intelligence.
Toys R Us had $6.6 billion in assets at the time of filing. Only Kmart was bigger. It had $16.3 billion in assets when it went bankrupt in 2002. Crushing debt pulled the giant toy seller under. According to a Bloomberg report, the company has piled up more than $5 billion in debt. Toys R Us reportedly pays more than $400 million a year on debt service alone.
The company says it plans to continue operating and secured a$3.1 billion operating loan to stabilize operations.

How central banks have not prevented the next global financial crisis but merely delayed it.

Fed Chair Janet Yellen said at the FOMC press conference, that the fall in inflation this year remained a mystery

Lady on left believes in Phillips Curve. Wants to tighten. Lady on right believes in gold. Just bought 16 tons.

Home Price Index Rises 6.3% YoY For July (4.5x Fed’s “Inflation” Rate and 2.73x Wage Growth). The FHFA's purchase-only home price index is out for July. It shows that home prices grew at a 6.3% YoY rate, but only 0.2% MoM. The largest home price increases were in Pacific and Mountain states.

(Hint: FHFA Home Price Index Growing At 6.62% YoY) Here is a brief summary of Fed Chair Janet Yellen's thoughts from yesterday courtesy of Deutsche Bank's Peter Hooper: The Fed is on track to raise rates once more this year and three times in 2018.

If the federal government gets its massive piece of the action with the "Hard Rock Act", the entire U.S. gold and silver mining industry could go the way of U.S. […]

In @ 12:50 mark: Rickards discusses The End of The Petrol Dollar System

The Fed & BoE are once again presiding over a credit bubble, with the BoE in particular suffering a painful episode of cognitive dissonance in an effort to shift the blame elsewhere. The credit bubble is everyone’s fault but theirs.

Professor Steve Keen on how Rising Debt Causes Rising Inequality

Most States Are Under 1%. The inevitable public pension crisis that will eventually wreak havoc on global financial markets.

And once that ability is gone all that will remain of the “richest country in the world” is a pile of worthless paper.

Defense Secretary Mattis warned that our very survival was in jeopardy because we are not spending enough on the military. But spending is not the issue...it's the policy!

Do not be fooled by the magic show. The real threat to us all is the central banking & international banking apparatus, including the BIS and the IMF.

A new bull market in gold started in late 2015 concurrently with the Fed’s first rate hike. That is no coincidence.

Gold deniers bears and the MSM are quick to trash-talk gold and gold investing, especially when comparing the precious metal to paper assets, but even the notorious World Gold Council sets […]

This tightening sequence makes no sense. It leaves the Fed with less of a safety buffer, and more vulnerable to an external shock.