Precious metals news

Recently, we reported on the rapid collapse of pension systems, both public and private, across the United States. This is not only jeopardizing Americans' retirement. Failing government pension systems are pulling several states down into a black hole with them.
When we talk about government debt, we tend to focus on the US national debt. But a lot of states are deep in the red as well. A George Mason University study highlighting the most bankrupt states reveals an interesting commonality - a pension crisis. Topping the list: California, Kentucky, New York, Connecticut, Massachusetts, New Jersey, and Illinois.

Student loan debt continues to balloon. Data released in March revealed that 46% of student loans are not currently being repaid. That doesn’t even include debt held by students still in school or those within the six-month grace period after graduation.
Clearly, this has major implications on the financial futures of Americans saddled with this debt. It could mean putting off major purchases like homes and cars, further dragging down an already sluggish economy. And what happens when these debtors begin to default? Everyday Americans are on the hook. Total taxpayer exposure to student loan debt, including government guarantees for private loans, stands at more than $1.3 trillion and is increasing at about $2,726.27 every second.

Legendary Gold Trader Jim Sinclair has long maintained that the bullion banks would be the main entities to profit from gold's final blow-off mania top. That time may be nearing […]

"The more you politically manage it, the lower the productivity goes. So, it is really a house of cards"

Both gold and silver are challenging major resistance while the U.S. dollar is testing support, says technical analyst Jack Chan. A break will help clarify the technical prospect going forward...

Gold bullion is a “long term insurance policy” according to James Steel, chief commodities analyst at HSBC, who spoke with Tom Keene about what’s driving gold markets on “Bloomberg Surveillance” yesterday.

Gold is flashing a Fresh Buy Signal right now...

Using credit - which most other economists ignore--to explain why Japan, the USA & UK are among the "Walking Dead of Debt"

How should we think about these incredibly low interest rates? Recently Narayana Kocherlakota, the former president of the Minneapolis Fed, offered a brilliant analogy. Responding to critics of easy money who denounce low rates as ‘artificial’ – because economies shouldn’t need to keep rates this low – he suggested that we compare low interest rates to the insulin injections that diabetics must take. Such injections aren’t part of a normal lifestyle, and may have bad side effects, but they’re necessary to manage the symptoms of a chronic disease.”
Bob Murphy took apart Krugman’s reasoning in an episode Contra Krugman, utilizing an analogy Peter Schiff often employs. It isn’t insulin central bankers are injecting into the economy. It’s heroin.

Bill Gross took a peek into the future in his most recent Monthly Investment Outlook for Janus Capital, and he saw money raining from the sky.
Gross said he believes the structural changes currently occurring in the US economy will ultimately lead to so-called helicopter money.
Of course, choppers wouldn’t literally drop cash from the sky. But helicopter money is the ultimate stimulus program. The newly printed cash goes directly into the hands of the people themselves. Basically, the government hands out money - or figuratively drops it from a helicopter. A recent Guardian article explained the policy this way:
As the Deutsche research makes clear, the most basic variant of helicopter money involves a central bank creating money so that it can be handed to the finance ministry to spend on tax cuts or higher public spending. There are two differences with QE. The cash goes directly to firms and individuals rather than being channeled through banks, and there is no intent...

The one argument used to bash gold is now gone. A major shift in the market is taking place and only a few astute investors are taking notice. But once this information spreads there will be even more of an awakening.

The charts tell the story, says precious metals expert Michael Ballanger, adding that the mining and metals market have the forward momentum of Secretariat as he clinched the Triple Crown.

The "commercials" have been aggressively issuing naked shorts to counter the new TSUNAMI of demand for gold. For the time being, the powers that be have finally been able to put a […]

HIGH COMEX GOLD OI (591,340 CONTRACTS) CAUSES BANKERS TO INITIATE A HUGE RAID!

Silver demand hit a record high in 2015 and it shows no sign of waning.
GFMS, in collaboration with the Silver Institute, released its annual silver survey last week. Coin, bar, jewelry, and photovoltaic sectors boosted silver sales to a record 1.17 billion ounces.
High demand coupled with shrinking supply resulted in the third consecutive annual silver deficit. The gap between silver supply and demand was 60% larger than 2014. According to the report, mine production growth slowed to 2% last year. Scrap sales were also weak.

Technical analyst Jack Chan shows why Friday's COT data was so shocking and what it means for gold:

Is the banksters' physical gold supply in London running on fumes?

The price of gold moved down slightly this week, while that of silver dropped more substantially—1.9%. We don’t see much decrease in the enthusiasm from this minor setback, yet...

It’s game on...

These are the Two Best Calls EVER on a gold bottom...