Precious metals news

Well guess what?  The CDO/credit default structure is re-born, only this time in the form of “Bespoke Tranche Opportunities:” Goldman Sachs Group Inc. is joining other banks in peddling something […]

This is just the beginning of the oil crisis.  Over the past couple of weeks, the price of U.S. oil has rallied back above 50 dollars a barrel.  But this […]

That prices are getting hammered this week should not really come as a surprise to anyone. None of this is by accident or happenstance. The Banks are getting the price reaction […]

It smells like…VICTORY:

With respect to the Greek economy, the ECB decided to increase the ELA to 68 billion euros or an additional 3 billion will be granted to the banks due to […]

Jim Rickards, author of Currency Wars, describes a game he plays with audiences when he speaks about gold and paper money. He presents to them US dollars, Monopoly money, and a gold coin. Then he asks, “Which of these is not like the other?”
Ivy League professors nearly always rationalize that the dollars are different, because they are a store of value while the other two cannot serve as real money. However, Rickards reminds us that the US dollar has lost 95% of its purchasing power since 1913.
Five-year-olds, on the other hand, instantly recognize that the gold coin is different. They probably don’t understand that gold has been a form of money for thousands of years, with a relatively stable value that entire time. Nevertheless, you have to wonder about the state of our basic economic knowledge when the instincts young children are more accurate than the reasoning of elite academics.

Last week, Peter Hug said that about 25% of all physical gold buyers are “crazies.” The comment is remarkable, because Hug is an executive at Kitco, one of the largest precious metals dealers in North America. In fact, Hug is the Director of Kitco’s Precious Metals Division.
Hug’s reasoning is that a lot of the people who buy physical gold believe that the United States financial system is headed for a dire crisis. Many are worried about a complete collapse of the US dollar. The rationale for this belief is pretty simple and comes back to basic economics.

The Comex is a complete fraud.  It’s one of the biggest Ponzi schemes in history. With China and Viet Nam (the latter being a major gold importing country) now closed […]

 There is serious trouble brewing for the remaining retail malls in the states, and it isn’t simply due to the “digital shopping revolution”.   The truth is that something ominous […]

History is very clear what happens with dangerous imbalances like this.  They correct painfully. Through class warfare. Through currency crises. Through wealth destruction.

China is planning to change the landscape of world gold markets and strengthening the renminbi through supporting it by gold. Therefore it’s in the interest of the People’s Republic Of China […]

The takeaway on weekly silver is a lack of defining activity that indicates the bottoming process is ending.  Simply put, there is none. 

A pegged currency rises and falls against other currencies along with the underlying currency.  Now that the USD has gained 16% in less than a year, that rise is dragging […]

Even according to the BLS numbers 102 million adults deemed not in the labor force or officially unemployed. Then there are those who are only partially employed, but counted by the […]

Mark O’Byrne explains below why the current 3 year consolidation is demonstrating signs of a classic bull market which frequently see “two steps forward and one step back” and lengthy periods […]

Gold could make a new low in 2015, while Janet hikes rates, the dollar rallies, and gold stocks surge higher...

The banksters WHACKED gold & silver today, with gold down $30 and silver down $1 at one point! Let’s head immediately to see the major data points for today:

- Sophisticated “Ocean’s 11″ style heist is one of the largest in history - Hackers remotely accessed bank computers to manipulate accounts and A.T.M.s. - Banking groups make no comment […]

Gold surged more than 10% in January, but lost a lot of ground on news of continued strong jobs growth. Peter argues that Obamacare is skewing the employment data. To avoid the additional costs of full-time employees, businesses are cutting workers to part-time hours while hiring additional staff. But "job sharing" is a double-edged sword that will mean even bigger lay-offs when the market retrenches.

David McAlvany the President and CEO of McAlvany Financial Group joins the STGReport to talk about the folly of Central Bankers and the fact that gold AND silver is money and […]