Precious metals news

The irony of blatant silver price manipulation is that it actually makes it easier to see and predict price patterns.

The Fed is going to be in easing mode a year from now.  They might try to raise interest rates one time, which I think would be like playing with […]

Things are setting up in textbook fashion for the next great economic crisis.  When the financial crisis of 2008 struck, and for a while it felt like the world was coming […]

Reserve currency or no, hyperinflation is a process. And we are fully entrenched in that process...

The United States government just went from “Please, baby, don’t leave me,” to frustrated threats and whining. After the UK announced it will join new China-led Asian Infrastructure Investment Bank […]

The announcement that Federal government’s tax-take hits all-time high as the federal government collected a record amount of taxes in fiscal year 2014, topping $3 trillion in revenue for the […]

Taxpayers pumped over $200 billion in to Fannie Mae and Freddie Mac after the financial collapse of 2008. Now the Inspector General’s Federal Housing Finance Agency has issued a warning […]

The Federal Open Market Committee (FOMC) statement released on Wednesday was notable for deferring interest rate rises to some unspecified time in the future. It appears the Fed is boxed […]

At some point in the last 40 years or so, we could have chosen short-term pain (a brief recession, fewer entitlements, balanced budgets, etc) and secured long-term stability.  Instead, we […]

Silver scraped major support again this week, after a rough couple months where speculators left it for dead. But this week's brutal lows and extreme universal bearishness are the perfect […]

A “Grexit” may cause gold to surge to $2,000 per ounce says Julian Jessop of Capital Economics. Jessop has written an interesting short piece on the company’s expectation for gold prices. It […]

I’ve covered the plight of the homeless in America in recent years as another manifestation of the erosion of decency, empathy, morality and kindness throughout much of our culture. In […]

Has the Justice Department just quietly instituted an early form of Capital Controls in the US? 

Today we had some short covering in the silver COMEX with the silver OI falling by 2175 contracts.  Gold OI again rises by close to 6000 contracts.  Both gold and silver […]

In another interview on Yahoo! Finance, Peter Schiff contradicted the conventional narrative of the dollar's future. He argued that the dollar’s brief, but dramatic dip this week is only a taste of what's to come. Just like those who invested in subprime mortgages, people will get caught in the reversal and implosion of the dollar. This will likely come on the heels of massive consumer inflation thanks to the endless money-printing of global central banks. When this happens, investors will return to gold as a store of wealth. Peter pointed out that gold has no ceiling because there’s no limit to how low the dollar can sink.

Appearing on Yahoo! Finance, Peter Schiff underscored that the Federal Reserve has been bluffing about raising interest rates. In fact, they will continue to bluff for as long as possible until they're forced to deal with a deflating asset bubble. He also pointed out the arbitrariness of the Fed's supposed goal posts: previously they had said they would raise rates when unemployment officially got below 6.5%, it is now at 5.5% and they want to keep waiting. Peter said the Fed has the same confused attitude about inflation:
I think they're going to be just as tolerant on inflation when inflation is 2.5 or 3%. They're still not going to raise rates, but believe me, when it's officially at 3%, it's going to be a lot higher than that, and consumers are really going to be feeling the pain.”

Laurence Kotlikoff, Professor of Economics at Boston University, appeared before Congress last month and called them out on phony accounting. He told Greg Hunter of USAWatchdog that despite his best attempts, he could not make senators see how the fiscal situation of the country is not as rosy as official numbers would have us believe. In his interview with Hunter, Kotlikoff talked a lot about social security, but he ultimately underscores what Peter Schiff has been saying for a long time: another financial collapse is coming.
Some of Kotlikoff's key points include:

Peter Schiff has been making the rounds of the financial media this week, warning that the Federal Reserve has no intention of raising interest rates. Fox Business moved on from this topic and asked Peter to defend the latest weakness in the gold price. Peter noted that gold has risen 5-fold in the last decade — far outpacing the stock market. Every investment will see a few down years inside a larger trend, and investors need to keep that trend in mind. Official inflation might be low now, but there’s clearly a bubble in asset prices. When the Fed inevitably fails to maintain this bubble, inflation will spread to the rest of the economy.
The stock market is inflated, the bond market is inflated, the real estate market is inflated. But all this represents claims to wealth, when actually people want to convert their claims to real stuff, when they want to spend their gains. That's when you really see prices surging for consumer goods and that's when it finally shows up in officia...

Sometime after the smackdown in March 2013 it just hit me: this was not the normal, run-of-the-mill downtrend in precious metals.  Something different and sinister was going on. Many folks invested in […]

Gold and silver are continuing their 3 day tear higher today, and it appears the shorts are feeling the pain as a short squeeze is in progress...