Precious metals news

U.S. Treasury Secretary Jack Lew discusses Puerto Rico's debt crisis & corporate inversion deals with Bloomberg's Erik Schatzker at the Milken Institute Global Conference.

This Silver Institute has released its April issue of Silver News. This edition highlights exceptionally strong silver jewelry sales in the US.
Silver jewelry sales in the United States were solid in 2015 with 60% of jewelry retailers reporting increased sales, according to a survey conducted on behalf of the Silver Institute’s Silver Promotion Service (SPS). This marked the seventh consecutive year of growth for silver jewelry sales and confirmed that silver jewelry is an increasingly important category for many retailers”
The average growth in jewelry sales for 2015 was 15%.

Money manager Michael says inflation has nowhere to go but up. Pento explains, "We have printed enough for this to go hyperbolic. We have plenty of excess reserves. We have already hit our core (Fed) inflation target.

Of all the people in the tech world, Steve Jobs perhaps understood the potential of the Internet better than any of his peers. Bob Moriarty of 321Gold discusses how Jobs' […]

With a track-record like THIS, who needs dollars?

I believe this is an absolute fraud as there is no way these guys can locate 20 tonnes of gold in 24 hrs!!

As the Wall Street Journal put it, the debt crisis in Puerto Rico entered a “more perilous phase” after the Government Development Bank defaulted on a $422 million payment Monday:
The missed principal payment, the largest so far by the island, is widely viewed on Wall Street as foreshadowing additional defaults this summer, when more than $2 billion in bills are due.”
Congress is debating legislation to grant the territory new power to restructure its more than $70 billion in debt. If Congress fails to act, the US taxpayer could ultimately end up footing the bill for Puerto Rico’s debacle:
In a letter to Congress, Treasury Secretary Jacob Lew warned on Monday that a US ‘taxpayer-funded bailout may become the only legislative course available’ if the proposed restructuring legislation isn’t approved.”

Gold has gone up more than 18% this year, but Doug Casey told Albert K Lu this is just a small move. He sees gold going much higher in the next year:
I think there's going be a panic into gold and out of paper currencies. So this small up-move that we've gotten here since the beginning of the year, that's just a harbinger. I think this time around, we're looking at $2,000, $3,000 an ounce. I think it's going be incredible."
The question is why? Casey explains his bullish outlook on gold – and how silver could hit $100 an ounce – in Lu’s latest Gold Videocast.

So much for that socialist paradise.
Last summer we reported that hyperinflation had devalued the Venezuelan bolivar to the point that people were using 2-bolivar notes as napkins. In order to keep up with the rate of devaluation, the Venezuelan government literally flew in 747s full of cash. Now we’ve learned that the Venezuelan government is so broke, it can’t even pay to print more money.

So, what is a benevolent socialist government to do?
Naturally, raise the minimum wage.

Puerto Rico's default yesterday is a result of well meaning politicians promising more "free" stuff to voters than the taxpayers were willing or able to pay for. Now the Federal government is being called upon to find a solution and that means taxes are going up, which will further shrink the...

In @ 13:08 Jim Rickards & Max - They destroy the old arguments against holding Gold & look at the latest action in the Gold market & what it portends for the future world order.

comments recently made by Bernanke, who argued in favor of the Fed looking into helicopter money. When did fiscal & monetary sanity become a radical position in America?

Peter Schiff has been saying for months that the US is probably already in a recession. In fact, during his April 4 podcast, Peter made the case that the "very massive recession," Donald Trump predicted has already begun (Scroll down to listen.):
Everybody is saying he is nuts because the economy is great. Look at the numbers. The numbers tell a different story. And I believe that Trump is wrong. I don't think we're headed for a massive recession. I think we're already in a massive recession."
Mike Maloney agrees with Peter, and he recently released a video that highlights four sets of data showing the “robust” economic recovery was all smoke and mirrors created by the Federal Reserve, and the US economy is likely already in recession:
I have a feeling that when the Federal Reserve, and the people who put all this data together, when they finally declare a recession, we’re going to find out that we’re already in a recession – right now.”

the commodity crisis is over. That, actually, is the biggest driver of the dollar, which is pushing it down.

Right now everybody is desperately waiting on the sideline to build up a first position in gold, silver and miners, but nobody wants to buy into the rally, but rather […]

The price of gold shot up over $60 this week. The price of silver moved up proportionally, gaining over $0.85. The mood is now palpable. The feeling in the air […]

“I have a technical level for gold, it is $10,000 U.S. per ounce.... $10,000 per ounce is mathematically derived and is NOT A GUESS.”

Technical analyst Jack Chan has examined the charts and says that if we are in a new bull market, prices in both gold and gold equities should begin to pull […]

We might not reach October...

The desperation is obvious, palpable, incredible, fascinating, and unmistakable. History is being made, as the last ditch is overrun. The Gold price will find its true value and price over […]