Precious metals news

I expect that there’s more to come...

While the band plays on and everyone says there’s nothing to worry about, the ship is rapidly sinking...

Precious metals staged a good rally this week on bear-closing, triggered by uncertainty behind China's series of mini-devaluations. The deflationary implications of the Chinese devaluations for the US economy have […]

Implantable RFID tracking chips. You know, to stop terrorism.

The entire gold-mining sector was crushed last month, suffering a full-blown panic.  This was triggered by an extreme shorting attack on gold by American futures speculators.  As fear-blinded traders rushed […]

It seems incredible that all of the crashes detailed below occurred seven years apart! 2015 is the next domino in the sequence.  The financial problems of 2008 have not been […]

The director of research at CERN, physicist Sergio Bertolucci, has stated that the Large Hadron Collider (LHC) may create a “door” to “an extra dimension”. According to him, something might […]

To be this blatant they must sense real trouble. They can try to cover-up the carnage to the economy by pumping up the stock market and smashing the metals, but […]

Hey!! Look out, old Captain Blythe that pirate is— BACK——-!!

Usain Bolt has got nothing on Leonidas of Rhodos...

The COMEX continues to bleed gold while China adds another 17 metric tonnes to official reserves...

GoldSeek Radio's Chris Waltzek talks to John Williams of Shadowstats on the dire comments of the domestic economy

Newsmax TV interviewed Peter Schiff earlier this week about the devaluation of the yuan. Peter did not agree with Donald Trump’s mainstream opinion that this news out of China will have terrible consequences for the United States. Instead, Peter emphasized how much more productive and robust the Chinese economy is compared to the US. When asked if the yuan might someday replace the dollar as the world’s reserve currency, Peter reminded the host that China has been buying a lot of gold recently:
I think the Chinese are accumulating a lot of gold. I think they’re being very quiet about how much gold they’re buying. In fact, I think they’re deliberately misrepresenting how much their gold holdings have increased. They’re taking advantage of the recent weakness in the price of gold to buy more. By the way, gold was up today. Not only was it up big in terms of the yuan, but it rose in terms of the dollar as well…

The other week, we wrote about the growing barter economy in Greece. With cash withdrawal limits still in place, Greek citizens are finding it difficult to conduct daily business using traditional methods. Now, the Wall Street Journal reports on the flourishing of a variety of alternative currencies, particularly one named TEM:
TEM—a sophisticated form of barter whose name is the Greek acronym for Local Alternative Unit—was founded in 2010 in the early months of Greece’s debt crisis with less than a dozen members. Now it includes dozens of participating local businesses that use the system to sell goods and services, including prepared food, haircuts, doctor visits, or even for renting an apartment.
“One of the larger and more established alternative payment systems in Greece, TEM has given Greeks living under the strain of wage cuts and tax increases a supplementary way to trade. Instead of dealing with a physical currency, members have an online account that starts at zero...

In a surprise announcement, China’s PBOC announced an increase in their gold reserves by 600,000 Ounces Of Gold In July – Annualized 225 Tonnes Per Year:

Will we soon see World War 3 erupt in the Middle East?  Even though Barack Obama has made a “peace deal” with Iran, leaders in the region sure are talking […]

I will leave it up to you, dear reader, to assign or withhold legitimacy to/from the data. My job is simply to report to you on what the data shows. […]

*Updated 8/14 2pm EST The financial sparring between East and West may have taken a very serious turn yesterday and I seriously believe a tactical nuke was set off. IF this […]

Will it really happen here?

Steen argues that the USD will see weakness against the euro, Gold will gain as Chinese investors look to the metal as a means of avoiding further CNY devaluation