Precious metals news

I believe Gold has hit the bottom of its recent down cycle and the price gains it has made since 2016 are forming a new substantial upward trend.

CHINA AGAIN DEVALUES AND THUS FIRES A WARNING SHOT TO THE USA NOT TO RAISE RATES...

Engdahl - U.S. adversaries are using Gold as money to pick up the pieces when the dollar self destructs & the Gold price explodes

Last week we reported that central banks were jettisoning US debt and buying gold.
Figures released by the IMF this week indicate central bank gold hoarding has not abated.
Russia and China both extended their prolonged buying spree in April. Russia added 16.2 tons to its reserves. China increased its holdings by 10.9 tons. Another major buyer was Kazakhstan. The former Soviet Republic raised its tonnage by 3.2 tons. Turkey added 2.6 tons to its stash.
Not only is the Chinese central bank continuing to expand its gold reserves, the country is steadily becoming a major player in the world gold market. Earlier this month, the largest Chinese bank bought one of the biggest gold vaults in Europe, as it expands its influence on global gold trade.

A June interest rate hike is the talk of the town. Jim Rickards doesn't think it will happen, but if it does, he says, "Look out below."
Rickards appeared on RT's Boom Bust to explain why. First, he makes the case that we shouldn't listen to every word that comes out of every Fed regional bank president's mouth. He suggests they are likely "testing the waters." As for the constant harping on jobs numbers, Rickards agrees with what we've been reporting. The employment outlook isn't really all that good:
It’s nowhere near full employment because obviously a lot of the jobs are part-time. Some of the people are working two jobs, so they get counted twice. Labor force participation went down in the last jobs report. So there is plenty of slack in the economy."
So, Rickards doesn't think the economic factors warrant a rate increase. But he says if the Fed does make the move, it will send the stock market into a spiral and spark another round of currency wars:

A mesmerizing animation of the migration flows into the US has been created, showing where in the world people arrived from over the past two centuries

Recorded at "Contra Krugman: Demolishing the Economic Myths of the 2016 Election"

Big Bank Customers Destroyed in Next Economic Meltdown

Harvey Organ is BREATHLESS...

The current gold price correction is exactly what “the golden doctor has ordered”, as the gold price meanders calmly down towards key support that begins near $1225. In about a month, […]

Devaluing Dollar And Debt By Revaluing Gold Is Getting Respectable...

Grant - "bankruptcies having been postponed through ultra Low & to abnormally low rates will pile up in the near future"

It comes as no surprise that a report on counterfeit fake gold coins hits the media right about the same time that several Fed officials are once again threatening the […]

Goldman Sachs and JPM were handed TRILLIONS in printed fiat digits during the last financial crisis by the Fed. Legendary gold trader Jim Sinclair's original $50,000 forecast for gold was […]

discuss the role Greenspan played in the economy of Clinton's reign. In @ 12:45 of the second half Max interviews author, Nomi Prins, a former Goldman Sachs banker

We've said before that the growing level of debt in the US is the elephant in the room we are going to have to address at some point. We've talked about the massive government debt and the drag it puts on the US economy. We've talked about the crushing weight of student loan debt - increasing at a rate of about $2,726 per second. We've talked about the mounting corporate debt, doubling since 2008.
And then there is personal debt.
Americans are burning up the plastic. Credit card balances are on track to hit $1 trillion this year. That is getting close to the all-time peak of $1.2 trillion hit in July 2008, just as the financial crisis was intensifying.

All of the talk lately is about a Federal Reserve rate hike in June. In fact, in many circles, it has become a forgone conclusion. On Monday, Philadelphia Fed Bank president Patrick Harker said he could see up to three hikes before year’s end.
But Steen Jakobsen, chief economist and CIO of Saxo Bank, says if the Fed does move forward with a hike, it will be a huge mistake. He said the data the Fed is using to justify the rate hike doesn’t indicate an increase in economic momentum. In fact, Jakobsen argues the US economy continues to perform significantly below its potential. He believes the Fed is talking rate hike so they can cut them again.
As Fed is now communicating this willingness to hike despite these economic circumstances, it seems like that Fed is trying to manage something else, which in my opinion is the fact they want some ability to be able to hike rates now in order to take them down later. Basically the Fed knows – the Fed acts as if they are in a corner, and...

In @ 14:50 After the break, Edward sits down with Jim Rickards - to talk about the Fed & US economy

Keynesian central planning cannot work, but the world's central bankers remain convinced that their theories are correct because that's what the textbooks from academia say. The end result is that they are going to destroy what is left of the productive economy and our currencies. This is why I...

‘Are these the golden days for gold?’