Precious metals news

Calling for a correction since March-April has allowed me to seesaw back and forth but as we have all been arguing and sniping and chirping over the next $100 move, […]

When you think about government, innovation isn’t exactly the first thing that comes to mind. Just last week, CNN reported that the US Department of Defense still uses 1970s era computing systems that require "eight-inch floppy disks." Some of these ancient computers run US nuclear weapon systems:
Such disks were already becoming obsolete by the end of that decade, being edged out by smaller, non-floppy 3.5 to 5.25-inch disks, before being almost completely replaced by the CD in the late 90s. Except in Washington that is. The GAO report says that US government departments spend upwards of $60 billion a year on operating and maintaining out-of-date technologies.”
But when it comes to finding ways to wring money out of their citizens, governments suddenly become exceptionally innovative.
A British barber and businessman recently floated the idea of a “beard tax.”

LONDON IMPORTED 119 TONNES OF GOLD IN MARCH AND APRIL!!   Why?? Because as Paul Mylcreest suggests, THEY RAN OUT OF UNALLOCATED GOLD!...

In this Critical Market Update, the Silver Admiral Eric Sprott discusses the big recent decline in metals prices caused by recent concerns of an imminent Fed rate hike. Can The […]

With another collapse of the global money system coming - Gold & Silver will be the safest store of wealth & means of exchange for private citizens

This article was written by Dickson Buchanan Jr., SchiffGold Precious Metals Specialist. Any views expressed are his own and do not necessarily reflect the views of Peter Schiff or SchiffGold.
Whether intuitively or analytically, we all know that the dollar is not such a great form of money. That’s putting it lightly though. The dollar is a terrible form of money when you take a closer look. Those who have lived longer on this earth tend to grasp this reality more clearly. Like trying to walk up a downward-moving escalator, the momentum of a falling dollar is always against you. This becomes clearer when engaging in economic planning. Whether it’s starting a business, making an investment, saving for retirement, putting something away for a rainy day, or simply making ends meet on a week to week basis, all of us have to work against a falling dollar (or fill in the blank with your fiat currency of choice.)
If that’s true, why do we keep using it?

The head of a major silver mining company says he thinks we will see triple-digit silver prices in the near future.
Keith Neumeyer serves as CEO of First Majestic Silver Corp. The company ranks as the second largest silver producer in Mexico – the world’s leading country in silver production. Neumeyer told Bloomberg a major Japanese electronics maker approached the company last month seeking to lock in future silver stock. This is a sign that supply concerns could significantly boost the price of the white metal – perhaps as much as nine-fold:
For an electronics manufacturer to come directly to us — that tells me something is changing in the market I think we’ll see three-digit silver.”
Neumeyer said he believes the price of silver could surge to $140 per ounce as early as 2019.

Will the Federal Reserve raise rates in June?
Peter Schiff says it's immaterial.
Peter appeared on CNBC’s Fast Money and created a firestorm when he said he sees this as a repeat of what happened at the end of last year and suggested everybody knows the Fed is at the end of its tightening cycle.
You know, the Fed launches a trial balloon, they raise the possibility of a rate hike, and they wait to see how the markets react. And the markets are basically acting positively, just like they did in December last year. Everybody was convinced there was a rate hike, but the markets were rising anyway. And I think it was the increase in the markets that gave the Fed the false confidence to actually raise rates. But as soon as they did, the markets sold off. We had the worst start to a year in history, and I think the same thing will happen if they raise rates in June. I think the market is going to sell off. I think gold is going to rally again. And I think the dollar is going t...

Published on May 26, 2016 Peter Schiff on CNBC 5/25/2016
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The build out of the infrastructure for the world to move completely away from the Dollar is almost complete. You have been warned...

"The most attractive assets in my view are gold shares and oil and gas shares. I think they still have significant upside potential this year..."

Are you prepared for the complete and total COLLAPSE of the dollar, and the Return of King Gold? 

While days like today may be painful to watch, the truth is that since the Fed began bashing gold with rate-hike drivel starting last Monday, the S&P 500 has not […]

The amount standing for gold at the comex in May is simply outstanding at 6.886 tonnes. The previous May 2015, we had only .08 tonnes standing so you can certainly […]

Legendary bond billionaire Bill Gross has shifted from bullish to bearish on bonds, warning that the days of central bank dominance are nearly over. Is the financial day of reckoning coming faster than we think?

Good morning Puerto Rico. Default is coming.
Legislation moving in Congress would set up an oversight board to guide the US territory through what essentially amounts to bankruptcy. It would not expend federal funds to bail out Puerto Rico, but would allow the island’s government to pay back debtors at less than 100%.
This is just a taste of things to come.
A default was unthinkable just a couple of years ago. The national obligation to repay what it owes was once considered almost sacrosanct. In 2013, Puerto Rico Gov. Alejandro García Padilla said paying back all of its debt was not only constitutional, but “a moral obligation.”
Times have changed, as the Wall Street Journal points out:
Though markets have met the event with a shrug, that shouldn’t diminish the significance of the moment. It underlines how much the stigma about government default has faded. Investors would be wise to build this risk into their calculations when lending to governments from now on...

Although it seems to be almost a foregone conclusion in most circles at this point, not every analyst believes the Federal Reserve will hike rates in June, or if they do that it means a long-term upward trajectory.
Jim Rickards recently appeared on RT’s Boom Bust and said he thought a rate hike was unlikely, and if the Fed does act, it will spur a nasty market crash. In his most recent podcast, Peter Schiff agreed, saying even if the Fed does nudge the rate up a quarter point next month it isn't going to matter. That will be the end of it, then the Fed will cut. [Scroll Down to listen to the podcast.] And Earlier this week, Jim Grant weighed in on Fox Business and said the Federal Reserve probably won’t raise rates because the economy is just slogging along:
The Federal Reserve will not act. The Fed I think it wants to. I think it would love to normalize things, but I think it has missed its chance. As they say on Wall Street, it missed its market…I don’t want to dogmatize t...

Fed watching has become an obsession. Every day, talking heads parse and dissect the words of central bankers, trying to read the tea leaves and figure out if the Federal Reserve will or will not raise rates next month.
But a well-known mainstream market analyst says Fed-obsessed pundits miss the bigger picture. It’s not all about the Fed – especially when it comes to gold.
Lindsey Group chief market analyst Peter Boockvar appeared on CNBC’s Futures Now and talked about gold. He said now is the time to get in, whether you think the Fed will hike rates in June or not. He said analysts and investors focused only on Fed policy completely miss the bigger picture. They need to think beyond June, and recognize policies of other central banks matter too. Boockvar said we shouldn't forget we have entered a negative interest rate world:
In order to be bearish on gold, you have to believe that the Fed is going to embark on 100 to 200 basis points of hikes over the next couple of y...

The 10 oz Ajax is now here, with a production run limited strictly to only 500 units. The front of this silver round features the ancient Greek hero, Ajax, who first appeared on coins minted over two thousand years ago. And its extra large size & mirror finish highlight all the intricate detail of Ajax in...

CNBC informing investors that gold is likely to rise above $1900 in the next phase of the secular bull market and to "Get in Now"!?! This week's sign of the […]