Precious metals news

China’s largest bank is buying the lease on a huge gold vault in London, another sign of gold's continuing shift from West to East.
As the Telegraph put it, acquisition of the 1,500 ton vault will enlarge ICBC Standard Bank’s footprint in the city's bullion market:
The Chinese and South African lender is aiming to fill the gap left by Western banks, which are retreating from commodities to cut costs and reduce regulatory burden.”

In episode 130 of his Podcast, Peter Schiff discussed the State of the Union address, calling Obama's speech the most clueless ever.
Peter breaks down all of the economic fallacies the president invoked during the SOTU, honing in on the fact that the president seems oblivious to the fact that we are about to head over an economic cliff. Instead he's claiming victory over the Great Recession and acting like economy is great:
I think it will probably go down in history as the most clueless State of the Union Address ever, because all he talked about was how great the economy was, how we created all these jobs. He even had the chutzpah to take credit for reducing the budget deficit."

Peter Schiff appeared on the Daily Ledger at the beginning of the week to discuss the global economy. Peter refuted the idea that the US stock market is falling thanks to Chinese market troubles. In fact, he argued it's the other way around – the Federal Reserve is the source of global instability. Peter went on to forecast the Fed's actions in 2016. He thinks there's a good chance Janet Yellen might ease again to prevent the US economy from officially dipping into a recession under Obama's watch:
[Janet Yellen] is going to do whatever she can to deliver it to Hillary Clinton. She remembers what happened when the Alan Greenspan bubble burst while Bush was still in office. That guaranteed that Obama would win and McCain had no chance with that kind of baggage. She doesn’t want to saddle Hillary with the same kind of baggage. She wants Barack Obama to be able to leave, claiming that he saved us."

The flipping of the calendar to 2016 has not dampened the demand for silver bullion coins.
The US Mint announced its first weekly allocation of American Silver Eagles for 2016 and the number was quadruple the amount rationed during each of the last five months of 2015.
Sales have been brisk, according to Reuters:

Domestic silver production in the U.S. is down 19% in September and 18% in October verses the same months last year.  Even though the USGS will continue to revise these […]

Never before have we seen a year start like this.  All of these numbers are huge red flags that are screaming that big trouble is ahead. 

$50 – $100 silver is not only possible but quite probable within a few years.  It certainly seems likely by comparison to the above four actual events.  Yes, silver prices […]

People prefer to EAT and SMOKE Gold?

U.S. Silver Mining Production Doesn’t Cover American Silver Eagle Demand. Since 2010, the amount of silver required to mint American Silver Eagle coins has exceeded U.S. silver mining production by […]

Suckahs!!....

Are gold and silver headed (much) lower before moving higher? 

Shanghai Gold Exchange Withdrawals. The final results are in...

Obama is killing it...

“Anyone who wants to buy precious metals now and they understand the reason why and they want to convert their fiat currency into precious metals – buy as much silver […]

The dollar has staged a major breakdown against the yen, and large FOREX traders tend to base their dollar-gold trades on the dollar-yen chart action, more than on movements in […]

The world’s financial markets changed dramatically entering this young new year, led by sharp stock selloffs and a mounting gold rally.  These are major reversals from recent years’ action.  The […]

Which special interests get the special treatment? Which foreign countries get bailed out? Money for regime change? Too big to fail? The Fedis the Mordor of the warfare/welfare state and it depends on secrecy for its power.

Peter explains what's really going on behind the economy & what to expect to happen.

After setting a third annual sales record in 2015, sales of American Silver Eagle coins are off to an explosive start. First day sales of 2016 American Silver Eagles to […]

Are the actions of the world governments and elite telegraphing that significant changes are on the horizon?