Precious metals news

Debt mounts up faster than the means to pay. Yet there is widespread lack of awareness regarding what this debt dynamic implies. From Mesopotamia in the third millennium BC to the modern world,

"Fed-exit." Ending the Federal Reserve's monopoly on money is the key to restoring and maintaining our liberty & prosperity

We discuss why GLD/SLV are Ponzi schemes created as a mechanism to control the price of Gold/Silver. We also report the latest on China's massive investment in the new Silk Road and why it will change the world

Let me summarize what the CFTC wrote and why it was a lie. The subject of the letter was the activity of large short traders in COMEX silver & the agency took great pains to dismiss any & all concerns of a short concentration causing any price manipulation or potential clearing failure.

Silver & Gold have had terrific weeks but as we’ve been showing, the mainstream media, especially the business media, often focuses on the negatives.

Pension fund returned 0.6% to fall way short of its internal target of 7.5%

They call them le sofferenze - the suffering. The imagery is striking, the thousands of sofferenze across Italy, unwanted & ignored, a problem unsolved

After recording colossal losses of around 7 billion euro's in 2015, the Frankfurt lender is desperately seeking ways to cut costs

The Fed's Zero Interest Rate Policy (ZIRP) & QE have really depressed loan rates (as well as deposit rates) forcing large banks like BAC into cross-cutting mode to survive.

a persistent narrative still dominates financial markets: all-knowing, omnipotent central bankers are still in full control of the situation & will do 'whatever it takes' to maintain order

Germany's hyperinflation in 1923 sent shockwaves throughout Europe as there was a strong rise in socialism. Stanley Baldwin (1867-1947) became Prime Minister under the Conservatives on May 23, 1923

Even after pumping in trillions of yen into the financial system, Japanese policymakers have had little or no effect in restoring growth & inflation

This chart is telling us something, and it started in 1999 when Europeans signed a major agreement not to sell gold...

It took longer than any of us thought it could but here we are:

While most advanced economies struggle to lift inflation, none would want Venezuela's situation: Consumer-price inflation is forecast to hit 480% this year and top 1,640% in 2017, according to the International Monetary Fund.

The Bureau of Labor released its Consumer Price Index report last Friday, which showed an increase in all consumer items by 0.2 %. The CPI measures the change in price Americans pay for all goods and services. According to the Wall Street Journal, the latest numbers indicate that the “effects of low energy prices and a strong dollar are fading.”

In short, prices are continuing to rise because of the ultra-low interest rates and quantitative easing. This is not only bad news for consumers, it's worse news for the nation’s economy in general. That’s because the reported CPI is only a small peek into the actual effects of the Fed’s monetary policies. As Peter Schiff has said many times:
The methodology for computing the CPI has deliberately been designed to hide the effects inflation has on consumer prices.”
What’s hidden within the government-created CPI reports is the fact that most Americans are feeling the pinch. Gas price stabilization is also beginning to affect ...

Little old Chinese ladies are buying gold.
The South China Morning News (a Hong Kong paper) reported that mainland China imported five times more gold from Hong Kong in May. Recently released customs data showed imports from Hong Kong primarily grew due to cross border shipments to meet mainland customer demand.
Many of those customers are little old ladies, according to the paper:
Jasper Lo, chief executive of King International, said many mainlanders, especially ‘Big Mother’ investors – elderly ladies who like to invest in the metal – were major buyers of gold, which has risen in price by 28% this year, up 6% in the last three weeks.”
Gold traders say they expect the Chinese investors will continue to buy gold as the year goes on. According to Lo, economic volatility and uncertainty are driving gold demand on mainland China:

discuss earnings, the Chinese Yuan, Japanese Yen & the falling credibility of central banks.

We'll probably see $15 trillion, then $20 trillion, worth of negative-yielding subprime government debt within the next few months.

It's going to have to go to precious metals because it can't sit there getting no or negative yields forever. . . . The debt game is over.