Rob Kirby: China Shifts From Gold To Bitcoin In Anti Dollar Move

There may only be a couple of weeks remaining in 2020, but we could really see some fireworks before it's all over. 

In fact, Rob Kirby is expecting some really big things to be going down over the next thirty days...

- Source, Silver Doctors

Ron Paul: Why President Trump Should Pardon Assange

There are many calls for President Trump to pardon Julian Assange. Ron Paul agrees that it would be a very good idea.

- Source, Ron Paul

Martin Armstrong: The "Great Reset" is Communism

Lyn Alden: The Fed Will Lose Control of Inflation

Tom welcomes Lyn Alden, Financial Newsletter Editor & Publisher, back to the program. 

Lyn discusses this economic downturn. We've seen a rebound in some asset classes, but it will take most of 2021 to see all the effects play out. 

We've seen a weaker dollar and slowing GDP growth globally. By late 2021 the global economy should improve gradually. 

She discusses the longer cycles around GDP and the dollar. She discusses the book "The Fourth Turning," in which there is a significant restructuring of debt, roughly every eighty years. 

Debts get so high that there is a final rapid expansion of the money supply. She explains the differences between monetary policy and fiscal policy. 

Fiscal policy has more to do with government spending and taxation. The key takeaway is that these two forms of policy begin to blend at the end of long debt cycles. 

Several catalysts may drive inflation, and one of those will be commodity prices. 

Most commodities today, including energy, are very cheap, but precious metals generally move before the rest of the sector. She is bearish on the dollar over the next three to five years. 

She says, "The petrodollar system was based on the United States having forty percent of world GDP. 

Expect to see a multi-polar system of currencies soon as the dollar system has become a bottleneck." She's favorable to holding some foreign equities and commodities, including some digital assets.

- Source, Palisade Radio

Billionaire Investor Thomas Kaplan says gold prices to move 'way past' all-time highs

Why $2,000 gold makes more sense in 2021 than 2020

Dollar Depreciation Certain… Final Election Results? Not So Much

Gold & Silver Market Update: Key Fundamentals to Watch Closely

This week we cover the price movements of gold, silver, platinum, palladium, US Dollar Index, DOW Industrials, and more. We'll review key fundamentals to watch closely over the coming months in relation to gold & silver.

- Source, Golden Rule Radio

Economy to Shut Down Again This Winter says Lobo Tiggre, Biden Will Destroy the Economy

"If Biden is sworn in, he'll shut the economy down this winter more than Trump would have. USD goes under the bus, stagflation is likely. They'll blame COVID-19, but for once, socialism might also get some of the blame for the trouble it causes..." said Lobo Tiggre of the Independent Speculator in a Tweet made last week.

- Source, Kitco News

Gary Wagner: A Biden Win is Great for Gold?

Tom welcomes a new guest to the program, Gary Wagner. Gary has been a technical trader for over 25 years and is the executive producer of "The Gold Forecast," a daily video newsletter. 

Gary discusses how people are waiting for more stimulus, but the next program will likely not arrive until February. The economy continues to contract, and while some businesses are doing very well, others are being hit quite hard. 

The Fed has stated that interest rates will remain unchanged as they still have some options in their toolbox. Expect gold and equities to continue to do well in this environment. 

We've had the most massive budget deficit on record at three trillion to fund this crisis. There is still a lot of work to be done, and he expects that 2021 will have a similar or perhaps even larger deficit than 2020. 

The government will likely continue bailing out specific sectors through next year. 

Typically Democrats spend more than Republicans, and there is much uncertainty surrounding Trump. 

What America needs no matter who wins is a peaceful transition of power. From now on, there could be a lot more protests. Gary discusses how fast technology is moving quickly and why that makes him cheerful and optimistic about the future. 

Gary believes cryptocurrencies will find a place in the fabric of society. Crypto allows third world countries and developing countries to transfer value with relative ease. 

He likes silver as it will outperform gold during moves but will also correct harder to the downside. 

There is a finite amount of both metals, and there will always be intrinsic value with these assets. 

He discusses what being a hybrid technical trader means for him and how he was mentored by two great technical traders Larry Williams and Don Bollinger. 

He says, "Making money isn't that difficult. Keeping it is the hard part." Finding the tops is the hard part of the markets, and he discusses some of the alternative trading techniques he uses.

- Source, Palisade Radio

Oil Market Rolling Over Into Bear Market, Worst Case Scenario For Oil Income Investors Playing Out?

Oil prices are rolling over (again) as many Eu countries go into a 2nd round of lock downs. Demand for gasoline, jet fuel, plastics and other petroleum products has not returned to anywhere near pre-pandemic levels so it was predictable that oil prices might roll over again back into a bear market and income investors relying in dividends or distributions (from MLPs) throughout the oil value chain might be hurt badly if oil prices roller over from the $40 trading range since early June.

- Source, Wall St for Main St

Ron Paul: Is Fed Counterfeiting An Economic Stimulus?

Politicians want the Fed to counterfeit more money. The Fed wants politicians to spend the counterfeit money even faster. 

All are trying to "stimulate" a broken economy that rests on a foundation of sand: central economic planning. 

Human civilization, society, and the economy cannot be controlled by Fed price-fixers, counterfeiters and bureaucrats. 

Freedom and sound money are the only things that can fix what they have broken.

- Source, Ron Paul

Volatility Spikes Leading Into Election: Gold & Silver Response

Ahead of the 2020 election the VIX spiked to the highest level since June. 

Worries of further economic shutdowns are fueling this jump in volatility and concern from main street investors. 

We will cover the price movements of gold, silver, platinum, palladium, the US Dollar index, DOW, DOW Transports, and more.

- Source, Golden Rule Radio

Golden Rule Radio: Metals Markets Compressing Leading Into Election

The gold & silver markets see compression leading into the election as other markets are following this trend. 

We review the price movements of gold prior to the 2016 election as well as the record inflationary pressures in play currently.

- Source, Golden Rule Radio

Gerald Celente: Democratic Presidential Victory Great for Gold

Gerald Celente is the Publisher of the Trends Journal, a weekly magazine analyzing global current events forming future trends. 

Our mission is to present Facts and Truth over hype and propaganda to help subscribers prepare for What’s Next in the increasingly turbulent times ahead.

- Source, The Trends Research

Goldman Sachs: Dump Dollars, Buy Silver

Sell dollars and buy silver. That’s Goldman Sachs’ recommendation.

I have been warning about a dollar collapse and now the mainstream is even getting bearish on the dollar.

In response to the economic shutdowns imposed by governments to deal with the coronavirus pandemic, the Federal Reserve is printing money to infinity and beyond. On top of that, it has shifted its inflation targeting to allow inflation to run hot meaning there is no end in sight to the currency debasement. This is bearish for the dollar and an article published by Reuters last month quoted a number of mainstream analysts talking about “dollar woes.”

Goldman Sachs has jumped on that bandwagon, saying in a recent report that “the risks are skewed toward dollar weakness.” Analysts see an increasing likelihood of a Biden victory in the upcoming election.

A ‘blue wave’ US election and favorable news on the vaccine timeline could return the trade-weighted dollar and DXY index to their 2018 lows.”

Goldman sees broad-based dollar weakness and recommended shorting the greenback against the Mexican peso, South African rand and Indian rupee. It is also advised buying the euro, along with both Canadian and Australian dollars against the US dollar.

During my speech at the Money Show in August, I said the government is trying to replace the economy with a money printing press and he warned that a dollar crisis is looming.

The dollar is going to fall through the floor and inflation is going to ravish the United States. What’s about to happen is that the world is going to go off the dollar standard and go back to the gold standard. That is where we are headed.”

Keep in mind, dollar weakness is also bullish for both gold and silver.

In a separate report, Goldman analyst Mikhail Sprogis said recommended buying silver. He said the white metal is “an obvious beneficiary” of the global move toward solar energy.

Silver is a vital component in the solar energy sector and solar power generation is expected to nearly double by 2025. A report by the Silver Institute earlier this year projected that a combination of global efforts to reduce fossil fuel reliance, legislation to lower carbon emissions, and favorable government tax policies, should result in a continued expansion of solar panel installations over the next decade. A recent report from the World Bank forecasts that by 2050, consumption of silver in energy technologies could grow dramatically, reaching a level equivalent to more than 50% of current total silver demand; the largest proportion for any non-battery metal.

“Now, with silver at $24/toz and a few potential upward solar surprises in the coming months, we reopen the trade,” Sprogis wrote.

According to the Goldman report, global solar installations are projected to rise by 50% between 2019 and 2023. But Sprogis said we could see “upward solar surprises” from that base-case scenario, including the US and China extending their solar installations plans. And if Biden wins, he has a plan to proceed with 500 million new solar panels in the US over the next five years. That could lead to a rise of 15% in global solar installations.

Silver is coming off its best quarter since 2010 and the fundamentals indicate there is still plenty of upside.

The silver-gold ratio remains high, indicating that silver is still historically undervalued compared to gold. After closing to under 70-1 in August, the spread has been running closer to 80-1 in recent weeks.

On the supply side, mine output fell precipitously with the COVID-19 economic lockdown. Many major mines were forced to shut down due to the pandemic. Analysts at the Silver Institute say they expect mine supply to continue its four-year slide. Even with most mines back online, the institute projects a 7% decline in mine output this year. Global mine production fell by 1.3% in 2019.

Looking at the big picture, the biggest driver for precious metals continues to be Federal Reserve monetary policy. In order to turn bearish on gold and silver, you have to believe the Federal Reserve is actually going to tighten monetary policy and the dollar is going to remain strong. Both of these prospects seem pretty implausible. Even the mainstream is starting to see it.

- Source, Peter Schiff via Silver Bear Cafe

Robert Kiyosaki: Robots Will Replace Us, How to Survive the Coming Revolution

The rise of automation means that many workers around the world will eventually be replaced by robots and artificial intelligence, and most Americans are not financially prepared to face a reduction in income, said Robert Kiyosaki, best-selling author of Rich Dad Poor Dad. 

"The reason we have social unrest is that people that are protesters [don't have assets]. They've got nothing. If they lose their jobs and they lose their income and they have [no assets], we're going to have a revolution," Kiyosaki told Kitco News.

- Source, Kitco News

Lyn Alden Gives Reasons for Another Major Economic Downturn

Lyn Alden, who provides investors with research, information and tools to build wealth, gives the true underlying reasons for the current market downturn.

- Source, Jay Taylor Media

Bretton Woods: The Tragic Circumstances Persist

America, the federal republic & America, the global empire. Two distinct Americas. 

The first was marked by individual liberty, sound money, free markets and a foreign policy of non-intervention. 

The latter is marked by dependence on government, fiat money, dominance of government and politically-connected business, and endless war. 

Sound money fueled America's rise. Federal Reserve counterfeiting is hastening its decline.

- Source, The Liberty Report

Peter Schiff Argues with Marxist Richard Wolff

Why Energy Will Drive Precious Metals Prices To New Highs

Prices for gold and silver have seen major increases this year, and interest in these precious metals is rising in tandem as both new and experienced investors rush to the space.

But higher prices aren’t the only reason market watchers should pay attention to gold and silver. According to Steve St. Angelo, independent researcher at the SRSrocco Report, there’s much more to the story, including a key aspects that many investors miss: energy.

“What’s happened in this complex world we live in with a lot of technology and a lot of levels of the supply chain — we just forget about the energy. We take it for granted,” he explained.

- Source

Jan Nieuwenhuijs: Central Banks Have Begun Hoarding Gold

Tom welcomes Jan Nieuwenhuijs onto the show to discuss the commodity markets, gold, and the problems within central banking. 

Jan explains how many issues with the Comex are due to misinterpretations of the data, and so far, he doesn't see any fraud. 

There are only unsubstantiated rumors that the Comex has failed to deliver. Futures markets act as a hedge for many players, and it is normal for open interest to be concentrated in the near month. 

This year's deliveries are higher than in the past, but it's quite normal to see large open interest positions.

Jan discusses how speculation on these markets work and why there were many lucrative arbitrage plays early this year. He discusses central bank's activity and why inflation has yet to appear in the financial system. 

QE is creating imbalances in the system, and eventually, inflation will appear because central banks are in a dead-end street and can't reverse. 

Deflation is like kryptonite for central bankers because lower prices result in lower wages, making it more difficult for people to repay debts. 

Jan discusses how gold is fairly evenly distributed amongst the world's nations, and why the trend may be toward a new multi-currency system where gold becomes the benchmark standard. 

Lastly, Jan explains the strategic secrecy around gold by governments and central banks and the risks to the financial system if they discuss gold openly.

- Source, Palisade Radio

Silver Update & Investment Not Industrial Demand Future Driver Of Price

Silver Update & explanation why Investment, not Industrial Demand leading future driver of price.

- Source, SRS Rocco

The Next Big Buy Opportunity in Gold and Silver

Here is our near-term technical outlook, with the potential downside risk, which if realized will setup a buy opportunity before the next leg higher.

- Source, Palisade Radio

What’s the Price of Gold? It Depends...

When someone asks what the price of gold is, the answer depends on which gold market he means.

In most cases, the different gold markets are close enough that the minor differences are insignificant. TV news anchors just want to know if the price is in a major trend, up or down (up). Old Uncle Ernie could be reminiscing about the bull market of the 1970s and comparing the price back then to the price today (spoiler: it’s higher today).

It must be emphasized that these are three different markets. That is, there are different buyers and sellers. Hence there are different balances of supply and demand. And the price in one market is not the same as in the other two.

The prices in these markets are usually very close to one another, but they’re not the same.

If the prices in two different markets are normally very close, then there must be some force that ties them together. It does not happen by accident, and no one maintains it out of charity...

- Source, Silver Bear Cafe

The System is Broken: Do You Really Think the FED Know What it is Doing?

One year ago today - something massive happened in the global markets that marked the beginning of the current crisis. 

No, it wasn’t the health crisis that kicked off this industrial scale panic…

- Source, Gold Silver

Get Ready For New Records: Gold, Commodities in Sweet Spot

Michael Pento: Fed Policies Are Rocket Fuel for Gold and Silver

Money manager and economist Michael Pento says his portfolio is now weighted with 20% Gold and Silver. 

He predicts Fed policies that are coming soon on inflation and interest rate suppression “will be rocket fuel for gold and silver and gold and silver are just getting started.

 If Bitcoin is $10,000 per unit, why can’t gold be $5,000, $10,000 or $15,000 per ounce? 

With the amount of dollars out there, it could easily be $5,000 or $8,000 per ounce, and that is where it is headed.” 

Pento also says, “The bond market will eventually collapse, but the biggest collapse coming is the faith in all fiat currencies.”

- Source, USA Watchdog

Gold and Silver Relatively Stable As Fed Continues To Inflate

This week we cover the price movements of gold, silver, the DOW transports, platinum, palladium, the NASDAQ, oil, and more. 

Gold and silver remain relatively stable as the US Dollar index sees some movement upwards and the Fed continue their inflationary approach.

- Source, Golden Rule Radio

Ron Paul: The Fed's Brilliant Plan? More Inflation and Higher Prices

Ron Paul discusses the recent announcements out of the Federal Reserve, including the fact that they plan on keeping interest rates low for possibly several years.

Is hyperinflation in store? Will this enable out of control lending and debt creation?

The Fed seems hell bent on destroying the economy and Ron Paul explains how it will all unfold.

- Video Source, The Liberty Report

USA Watchdog: Violence has Backfired on Democrats

Gold Has Been Activated To Expose The Central Bankers, This Is Just The Beginning

Federal Reserve Now World's Largest Investor: Fed Now Owns Nearly One Third of All US Mortgages

The Federal Reserve has snapped up $1 trillion of mortgage bonds since March, a record pace of purchasing. 

The Fed bought around $300 billion of the bonds in each of March and April, and since then has been buying about $100 billion a month. 

It now owns almost a third of bonds backed by home loans in the U.S. Buying the securities has pushed mortgage rates lower, with the average 30-year rate falling to 2.91% as of last week from 3.3% in early February.

- Source, Wall St for Main St

Paul Craig Roberts: Fed Will Have Major Problems When Gold Hits $3000

Former Assistant Treasury Secretary in the Reagan Administration and award winning journalist Dr. Paul Craig Roberts says it will someday come down to one extremely difficult choice for the Fed. 

Dr. Roberts contends, “The way you can measure the pressure on the dollar is rising gold and silver prices. So, if gold and silver continue to go up and you see the dollar under pressure, at some point, the Fed is going to have to make a decision. 

Do they continue to support the stock and bond market to keep financial asset prices up or do they have to let that go and allow interest rates to rise to draw people back into the dollar? That will be a new kind of crisis. 

I can’t predict when it will happen, but at some point, if the dollar becomes in danger as the world reserve currency, which goes to the heart of United States power. That tends to prevail over other considerations.”

- Source, USA Watchdog

Golden Rule Radio: Will Gold and Silver React To the Fed's Inflationary Measures?

Jerome Powell revealed at the virtual Jackson Hole Symposium the Fed's new approach to inflation moving forward into 2020. 

Gold and silver saw short term reactions but are still following their longer term trend. 

We discuss this week the impacts the US 2020 election could have on the metals markets and more.

- Source, Golden Rule Radio

Michael Snyder: Prophetic Warnings for America

Journalist and book author Michael Snyder predicts, “Judgment is coming for America.” Snyder lays out his case in his new book called “Lost Prophecies of the Future of America.” 

Snyder says; 

“What is remarkable is all these people have seen the exact same thing coming (over many decades) and that is because it is all coming from the same source.

So, it is really a summary or a bringing together of these voices warning in advance of many things that are coming. 

We were warned in advance a pandemic was coming, and most people don’t even realize it. Another pandemic is coming too.”

- Source, USA Watchdog

Frank Holmes: If You’re Not long, You’re Wrong, Bear Case For Gold is Weak

However you look at it, gold’s long-term fundamentals remain bullish, owing to a world that is unlike anything we’ve seen before, said Frank Holmes, CEO of U.S. Global Investors. 

“I think all those [bear case] suggestions, if you look at the evidence, are pretty weak. It’s a very different world,” Holmes said. “People complained when the balance sheet of the Fed was 6% of the GDP, and now it’s 30%. 

If you get [politicians like] AOC [Alexandria Ocasio-Cortez] becoming mainstream, you’re talking about trillions of dollars of government money printing.”

- Source, Kitco News

It's Getting Worse With Every Shock: One Bank Turns Apocalyptic On The Coming End Game

In what can be described as Bank of America at its most apocalyptic, the bank's currency strategist Athansios Vamvakidis takes us on a tour de force of where we've been, going through what comes next, and which culminates in what may well be the 9th circle of financial hell.

Starting with the "three red flags" that have recently emerged across global economies, he then explains why nobody cares and why "markets remain optimistic" - the reason is MMT, in case anyone is confused - as "deflation and not inflation is the risk today." As a result, nothing "prevents more fiscal policy stimulus, funded by more money printing" while "central banks keep policy rates low for as long as necessary, to help governments deal with the massive debts they are accumulating? Effectively, this is what markets are pricing in" as without inflation there is no "budget constraint."

Yet stocks at all time high does not mean the situation is sustainable: as Vamvakidis writes next "things could have been different if the pandemic had found the global economy with lower debt and higher interest rates" however, that is a pipe dream as "most countries did not take advantage of the good times in the years before to create enough policy space, just because they thought that these years were not "good enough." In fact, in a complete failure of following Keynesian principles, "macro policies since the late 1990s have been loose in good times and even looser in bad times" as "countries have been converging towards MMT, without even realizing that they do" and the result "is that policies were loose and debt high even before the pandemic." Covid only accelerated this trend.

So for now the world is cruising on a debt-fueled autopilot, and "as long as there is no inflation, there is no budget constraint, in MMT and in the current state of the world. For as long as the pandemic lasts, fiscal and monetary policies can provide as much support as necessary and even more." Furthermore, looking ahead in a post-covid world, there will be "no rush to tighten policies, to avoid jeopardizing the recovery, as was also the case in the years following the global financial crisis. After all, Japan has been in this reality for the last 30 years."

Of course, eventually these loose macro policies, in both a good and a bad state of the global economy, "will likely lead to inflation. The longer it takes the more addicted markets become to macro policy support making the eventual adjustment harder." And yet, even once central banks announce their intent to overshoot their inflation target - something which will be unveiled in September, "non-linearities may make their task challenging, while in any case markets may start pricing rate hikes and the so-called central bank policy put could weaken."

Indeed, it is "only low inflation has allowed the I-am-so-bearish-I-am-bullish market in recent years" and is why the Fed will do anything in its power to keep inflation from becoming a budget constraint. However, "if and when at some point we do get inflation, this equilibrium will likely break."

So is there a way out? Well, with debt set to keep rising, the only option to reduce debt to either pre-Covid levels, or even more to pre-global financial crisis levels "would require massive fiscal austerity and private sector deleveraging", something which no self-respecting politician will ever campaign on ever again. And why take the plunge: "as long as inflation remains low and central banks keep policy rates at zero, there is no reason for such pain."

Unfortunately, as even Bank of America admits, "this is a scenario of recurring bubbles." The real economy is weak, but asset prices are strong because of loose macro policy support-more decoupling between Wall Street and main street. As Vamvakidis writes, "this will continue until unexpected shocks take place, asset price bubbles burst, which then needs even looser macro policies to avoid an even weaker real economy, leading to new asset price bubbles. The result is a vicious cycle spiralling to even higher debt levels, lower interest rates and larger central bank balance sheets, without inflation, but with an even weaker real economy and even worse asset price bubbles."

And we all have the Fed to thank for this endless loop that eventually ends in absolute disaster.

Of course, these same central banks are all too aware of these "risks" as BofA calls them (or, as the 1% would call them, opportunities), "but they are stuck." For the reason why just look at recent attempts to tighten, even in small steps, which led to sharp market adjustments: "We can mention many examples, from the Fed's QE taper tantrum and its sharp U-turn last year cutting rates and expanding its balance sheet despite unemployment being well below the natural rate, to the ECB being stuck with negative rates well after the crisis and despite serious side effects and reintroducing QE last year at effectively full employment. Government debt is already too high in most cases, particularly after the pandemic, to reduce it with fiscal consolidation in the years ahead, without hurting the already weak economy."

Which brings us to Vamvakidis' damning conclusion, one which can be summarized simply as enjoy it all while you can because the end-game is coming as "this is not a sustainable situation in the long term:"

We see no easy way out. Again, we wouldn't start from here. This is not a good place to be in for the global economy and it is getting worse with every shock, despite the market euphoria in the meantime. An already bad situation before the pandemic has now become worse. We are not sure how and when we will see the end-game, but in our view this is not a sustainable situation in the long term.

And that's all one needs to know about the current trajectory of, well, everything.

His full must-read note below:

In search of a budget constraint

First, Covid-19 infections continue to increase in Europe in recent weeks, reaching a new re-opening peak last week. We have been concerned that reopening will lead to higher infections, in Europe and everywhere else. The trade-offs between going back to normal and containing Covid-19 are clear to us.

Second, the Eurozone August PMIs dropped, confirming our view that the initial rebound was simply from base effects after the lockdown and that the cleaner data from now on will reflect a weaker recovery and output well below pre-crisis levels. US data has also started weakening, with our economists expecting further slowing this fall.

Third, markets were disappointed by the FOMC minutes last week, just because they were not dovish enough. The minutes told us that Fed policies would be outlook-dependent. However, the consensus was looking for a strong, unconditional dovish message. Effectively, markets are pricing both loose monetary policies and a strong recovery, which we have been arguing is not realistic.

US equities were back to an all-time high last week, with equities in the rest of the world also recovering strongly, before these red flags caused a pause in risk assets. In the meantime, there is no fiscal deal yet in the US, with some benefits already expiring. The bottom line we see is that the real economy remains weak and fragile, while macro policy support has its limits, but markets are optimistic on both fronts.

- Source, Zero Hedge, read more here

Ron Paul: The Counterfeiting Fed & Reckless Political Spending

Politicians are spending money (that they don’t have) like never before. Bailouts, “Stimulus,” and Welfare for everyone are the only game in town. 

The great enabler, the Federal Reserve, counterfeits dollars by the trillions. The failure of "planning" cannot be more obvious. 

Representative Thomas Massie sounds off in opposition to the madness on today's Liberty Report.

- Source, Ron Paul

Gold, Silver and Mining Stocks Smell the Demise of the Dollar

The news that Warren Buffet took a stake in Barrick Gold stimulated animal spirits in the precious sector on Monday. To be sure, this was a factor in the move on Monday. 

However the precious metals are starting to price in the next round of money printing by the Fed and the coming avalanche of new Treasury bonds, both of which will be considerable in quantity and serve to further devalue the U.S. dollar. 

On that note, the US dollar index tumbled below 93 on Monday. In addition, per the TIC report which shows the flow of international capital into and out of U.S. securities, foreign entities led by China dumped $20.6 billion worth of Treasury securities in June.

The message is clear: the Fed will need to be a large buyer of the upcoming Treasury bond issuance and the precious metals sector loves the smell of this.

- Source, Silver Bear Cafe

Election Chaos & Delays Already in the Works With 600 Lawyers, Countermeasures in Place

Alarm Bells Ring over Refinance Mortgage Boom: Why Refis Are so Risky

The mortgage industry is in uproar over the surprise announcement by Fannie Mae and Freddie Mac (the GSEs) Wednesday night that they would charge a 0.5% “adverse market refinance fee” on refinance mortgages that they buy – “a result of risk management and loss forecasting precipitated by COVID-19 related economic and market uncertainty,” said Freddie Mac’s statement sent to lenders.

The fee is designed to reduce potential losses for taxpayers that back the GSEs, as these GSEs now see the mortgage market, and particularly refis, heading for trouble. Refis carry a lot higher risk than purchase mortgages. More on that in a moment.

This fee will be effective September 1. To refinance a $500,000 balance, the fee would amount to $2,500. It’s not the end of the world. Mortgage lenders pay this fee to the GSEs, but they’ll try to pass at least part of it on to the borrower. The fee will be applied to cash-out and non-cash-out refi mortgages.
Who profited from the refi boom and who carries the risk?

On Thursday, 20 lobbying groups representing the mortgage and real-estate industry – including the Mortgage Bankers Association (MBA), the National Association of Realtors (NAR), and the National Association of Home Builders (NAHB) – responded with a letter, opposing the fee, because it would threaten “the emerging, but unsteady improvements to the national economy,” and raise refi costs, which would be “particularly harmful for our nation’s low- and moderate-income homeowners,” and would be, therefore “contradicting and undermining Fed policy.”

Turns out, these 20 lobbying groups don’t represent anyone but their clients in the mortgage and real estate industry – mortgage bankers, mortgage brokers, real estate brokers, home builders, and others. And these clients have all hugely profited from the refi boom that the record low mortgage rates, which have dropped nearly 1 percentage point since January, have brought about.

And none of the clients of these lobbying groups carry the risks of these refi mortgages. The GSEs – Fannie Mae and Freddie Mac – carry those risks, and ultimately the taxpayer.

This then triggered two counter-punches from the American Enterprise Institute’s Housing Center, sent out by email on Thursday and Friday.

“The Housing Lobby has described the GSEs’ imposition of a new ½-point market adjustment fee to offset risk on refinance loans as: “outrageous,” “a cash grab,” and “based on jealousy, greed, and disdain.” Nothing could be further from reality,” the AEI’s first statement said.

The GSEs are already strung out on refi mortgages, according to the AEI:

“The GSEs’ share of the entire cash-out refinance market is now at 90%, up from about 75% at the beginning of 2020.” That’s how exposed they are.
“The GSEs’ share of the entire rate and term refinance market is now at 80%, up from about 63% at the beginning of 2020.”
“Recently the combined volume of cash-out and rate and term refinance rate locks has been more than double the level a year earlier.” That’s how much the refi market has boomed under the record low interest rates.

The refi market share of the FHA, the VA, and private-sector lenders are down because they “have appropriately tightened credit standards,” the AEI said. The GSEs too have tightened standards, but “not been enough to slow their massive share and volume increases.”

“Mortgage lending history teaches us that lending into a vacuum is dangerous, and nothing indicates that more than a massive increase in share compared to one’s competitors,” the AEI said.

“The new ½-point market adjustment fee is not only appropriate, but it would have been a dereliction of regulatory oversight not to have taken action,” the AEI said...

- Source, The Wolf Street Report

Gold and silver ran up a little too quickly, said Kitco's precious metal division head

In an interview on Wednesday, Hug noted that precious metals prices were over-extended after both metals had phenomenal runs. In the past weeks, gold hit a record high and silver achieved a multi-year high. 

"Silver ran up to $30. Gold ran up to almost $2,100--all a little too quickly in my opinion," said Hug. "That's when the profit-taking set in. 

It was just a very small door with everybody trying to get out. And then as the market moved lower, people who were in at higher prices were getting margin calls in the afternoon, which just accelerated the move."

- Source, Kitco News

Despite Gold Price Correction, Many Gold Miners Are In Great Shape and Are Hiking Dividends

After superb and for many gold miners record breaking Q2 earnings numbers (remember that Q2 2020 ended before gold prices went over $2k an oz), many gold miners are now hiking dividends. 

The gold mining sector is the only sector where margins have expanded rapidly, free cash flow has increased a lot and there is big dividend hikes.

- Source, Wall St for Main St

Ron Paul: Does Jerome Powell Have a Clue? What De-Dollarization Truly Means for the US Economy

Politicians and Central Bankers attempt to do the impossible. They believe that with dictates and counterfeit money they can control the economy. 

The reality is the exact opposite. They only destroy the economy. Is it any wonder that the ultimate international money - Gold - has hit all-time highs in terms of The Fed's debased dollars? 

Gold has no ties to any politician or central banker. It is a source of independence. More and more people are wanting that kind of independence.

- Source, Ron Paul

Revolution is Coming: Is Gold and Silver the Next Bitcoin for Millennials?

What the gold sector has needed for years is generalist interest in the space, and one demographic in particular that has shied away from the sector is now showing unprecedented interest, according to Lobo Tiggre, principal analyst of the Independent Speculator. 

“Young people today understand that there is a risk in calling something money that governments can create at will at no cost. That’s completely different than anything we’ve seen before,” Tiggre told Kitco News, noting that there has been a surge of trading activity on Robinhood, the web-based discount brokerage, in gold-backed exchange traded funds.

- Source, Kitco News

SRS Rocco Report: Something Amazing Happened In The Silver Market

Something BIG Changed in the silver market last week. I discuss why the silver price will likely head up much higher in the future.

- Source, SRS Rocco Report

All Time High: Gold Goes Over & Closes Above $2000 For First Time Ever

Jason talks about how gold closing above $2,000/oz today (8/4/2020) was long overdue! This is while the head of Goldman Sachs wealth management warned his muppet clients and other muppets to avoid having gold exposure.

- Source, Wall St for Main St

Gold & Silver Prices Surge Up As Gold Exceeds All Time Highs

Gold passes the all time highs setting a new record at $1980 as silver rose above $25 as precious metals news reaches the mainstream. 

Where are the metals heading from here and what will the second half of the year look like? 

We will cover the rapid price movements of gold and silver in context of the record setting new highs in gold. 

We will also cover the price movements of platinum, the U.S. Dollar index, the equities sector and more.

- Source, Golden Rule Radio

Wolf Street Report: Nobody Knows How to Ever Get Out of This Mess

“Extend and Pretend” forevermore.

- Source, Wolf Street Report

Gold Price Forecast: $6,000 Gold on the Horizon

The gold price just rocketed through $1,900, marking the highest level since the record high peak in late 2011. This move should not come as a surprise to anyone paying attention to the current financial landscape. The FED has injected an unprecedented amount of new money/debt into the economy since March in efforts to avoid a collapse from the impact of the Covid-19 virus and subsequent restrictions of business activity globally. Over $6 trillion in stimulus so far is roughly double the entire amount injected during the financial crisis of 2008/09. And they are just getting started.

The Federal Reserve has stated that stimulus efforts will last for years and they have committed to do “whatever it takes” to keep the economy afloat. The Federal Reserve balance sheet has shot from $4 trillion pre-crisis to $7 trillion today. This is the highest level on record by a wide margin and the fastest it has ever increased. And this is before the 2nd round of stimulus, which is currently being negotiated. While there are plenty of dollar bulls amidst a global dollar shortage, they have been incorrect in their bullish outlook thus far. The dollar index has dropped from a high of 103 on March 20th to just 94, a significant drop in just a few months to the lowest level since September of 2018.

It turns out that when the money printer goes brrrrrr, it is indeed bearish for the dollar and bullish for gold, which is now up 25% year-to-date. This compares to a loss of 0.5% for the S&P 500 and even outpaces the gains of the red-hot NASDAQ, which is up 15% in the same time period. While we advocate holding some physical gold, it has been mining stocks that have generated the best gains in 2020. The VanEck Vectors Gold Miners ETF (GDX) is up 42% year-to-date and many of the junior miners that we hold in the Gold Stock Bull portfolio are up 100%. Miners see their profit margins increase at a faster pace than the gold price, which often results in leveraged gains.

The recent breakout above resistance at $1,800 (red circle in the chart) was very significant for gold and was followed by a quick rally of an additional $100 to $1,900 per ounce. And there is plenty of upside left in this rally in our view, with the price still below the mid-point of the trend channel. If we use the last major bull cycle in gold as a guide, we forecast the price to climb toward $6,000 by the start of 2026. This would represent another 10-year cycle and 6x move from the December 2015 bottom around $1,050.

- Source, Silver Bear Cafe, read more here

Gold, Silver & Precious Metal Miners Are All Going A Lot Higher Because of The Fed

During this 50+ minute interview Jason asks Tavi about the FAANG stocks and the general stock market indexes in terms of valuations. 

Tavi's hedge fund is net short general stocks and long gold, silver an precious metal miners including juniors. 

According to Tavi, gold miners are outperforming every other sector by a wide margin and free cash flow for the industry just doubled. 

No other industry can boast such improving fundamentals and a bull market during the last 6 months like gold miners can. 

Tavi also thinks that gold, silver and precious metal miners will be going a lot higher as the Fed prints more, lets inflation run hot and tries to bailout US corporate bonds and the US consumer. 

The only way Tavi doesn't see the rise in gold, silver and miners is if the Fed takes a long break from expanding its balance sheet. 

Jason also asks Tavi about his profitable oil trade from 3-4 months ago, commercial real estate and his views on China.

- Source, Wall St for Main St

Tight Silver Market is Only Going to Get Worse

Demand from green technology manufacturers, precious metal investors, as well as hampered production due to COVID-19 mine suspensions are all aiding silver. 

"I know the tightness of the market. It's only gonna get worse as we go green," said Keith Neumeyer, founder and CEO of First Majestic Silver (NYSE:AG, TSX:FR).

- Source, Kitco News

The World Is Flooded With Debt, Watch Gold, In The End There Will Be A Run On Gold

Todays interview is with Carlo Civelli. Carlo brings more than 30 years of experience in venture capital and natural resource sector. Carlo discusses how the economy will perform during and after the pandemic. Carlo believes that in the end the debt load will become so large that people will run to gold. 

We are closer to that point than people realize. Most of artwork that are included with these videos have been created by X22 Report Spotlight and they are used as a representation of the subject matter. The representative artwork included with these videos shall not be construed as the actual events that are taking place.

President of the Mises Institute Discusses Gold, Silver and the Current Economy

Jeff Deist, President of the Mises Institute, discusses how growing totalitarianism funded by dishonest money has placed America on the path to financial, moral and spiritual ruin.

- Source, Jay Taylor Media

Gold and Silver at Crucial Levels, US Dollar Clings to Support

Gold, silver, the us dollar index, and the equities markets are all at crucial levels right now. 

The movements that they take over the next few weeks could define the next few months. 

Will silver break out to a higher high and thus have a substantial impact on the gold silver ratio?

- Source, Golden Rule Radio

Real Vision: Divergence of Stocks, Bifurcation of the Economy

Senior editor Ash Bennington joins managing editor Roger Hirst to discuss the latest developments in markets and macro. 

Bennington and Hirst consider the divergence of large-cap stock indexes and small-cap stock indexes, the DXY falling with the dollar weakening, and how the momentum of US equity markets is slowing due to Fed balance sheet tightening. 

They also dive into banking and explain why the recent earnings reports for some of the US’s large banks reveal the bifurcation of the real economy and financial markets. 

In the intro, Peter Cooper talks about Goldman Sachs’ 2020 Q2 earnings and explains why it exceeded expectations by a wide margin.

- Source, Real Vision

Normalcy Returning to Physical Gold and Silver Markets

After a devastating supply-chain issue caused by the COVID-19 pandemic, normalcy is coming back to the gold and silver bullion market, according to Peter Hug, global trading director at Kitco Metals. 

In an interview with Kitco News, Hug said that premiums for gold and silver are starting to fall back to pre-crisis levels; however, he added that supply is still an issue as many mints are still producing below capacity and providing coins on an allocation basis.

- Source, Kitco News

Ron Paul: $3 Trillion of Fed Counterfeiting Not Enough

Washington is a land of delusions. One side creates delusions about Coronavirus, while the other side creates delusions about the economy. 

Politicians of all stripes are so desperate to keep their house of cards together that they're putting their faith in Federal Reserve counterfeiting. 

The era of government omnipotence is ending.

- Source, Ron Paul

Danielle DiMartino Booth: Witnessing the Death of Capitalism in Real Time

Fed critic and former advisor to the Federal Reserve of Dallas, author ​of “Fed Up - An Insider’s Take on Why the Federal Reserve if Bad for America,” Danielle DiMartino Booth, returns to Liberty and Finance in advance of her appearance as a keynote speaker at the 2020 Virtual Sprott Natural Resources Symposium, to discuss her upcoming conference address, and to answer provocative questions from viewers about the new greater depression, the double-bind of a banking crisis vs. a currency crisis, the gold standard, and the very existence of the Fed.

- Source, Liberty and Finance

More Bullish Tailwinds For Silver's New Bull Market?

Thanks to Steve St. Angelo of the SRS Rocco Report, we found out exactly how much silver mine supply in Mexico and Peru came offline in February, March and April.

- Source, Wall St for Main St

Next Steps for Silver are $27 and $58, Trade of a Lifetime

Tom welcomes Patrick Karim back to the show to discuss his latest charts on silver. Patrick is a proprietary capital manager and chart trader. Patrick is cautiously optimistic about precious metals and, in particular, silver. 

He says, "We are at a deciding point, and we could go either higher or lower." The risks to the downside for silver are quite low since it has been so unloved. 

We could have a nice move higher for silver once most of the weak hands have been shaken out. Patrick says, "It's likely go time for silver." 

He discusses several charts on silver and the miners and why an explosive breakout is entirely possible. 

He expects a bullish period and cautions investors to avoid listening too much to the echo chamber. It's essential to have tools and techniques to filter out the noise and make sound decisions. 

He gives some suggestions for selling once we get a specific distance above the fifty-day moving average. He expects to see $31 by early next year, and then there is potential for higher prices into the $58 range. 

Patrick thinks we may have already broken out of the long-term bear trend. Everything shows potential, and silver will move very quickly higher once we break above $19 to $20.

- Source, Palisade Radio

Golden Rule Radio: Gold Makes Big Move Up Amid Tense Economic Climate

Old highs become new lows. Gold pushes above $1800 amid a tense economic climate. Silver has broken up on it's 5th attempt through a key level, will it press on to $20? Is platinum poised for a large upswing as well following gold? The US Dollar index sees continued weakness as it pushes further down.

- Source, Golden Rule Radio

Nomi Prins: Gold and Fed Debt Go Up Together

Three time best-selling book author Nomi Prins says gold prices are going to “follow the expansion of the Fed’s balance sheet.” It is that simple, and Prins predicts, “As we saw in the wake of the financial crisis of 2008, gold and silver will have the ability to go up quite substantially as the Fed’s book increases in size, which we know it is going to do. We have been told that multiple times by many different words by Federal Reserve Chairman Jerome Powell.” 

In closing, Prins says, “We are continuing to drive up asset bubbles where we don’t have the real economy to back it up. The more this ‘Permanent Distortion’ gets bigger, the more the likelihood the next crisis will happen . . . and it will be from a higher height. It will be from a larger bubble, a bigger snowball accelerating downward more quickly. I don’t think we are out of this crisis. I think the markets are going to have a bumpy ride as the economy has a bumpier ride.”

- Source, USA Watchdog

Ron Paul: Independence Day Under Attack

This July 4th, much of the United States finds itself under various levels of dictatorial orders from renegade governors, county, and local officials. 

The US is under rule by decree, not by rule of law. Looking at the original list of grievances the Colonists had against King George, it looks like most of them are met - and then some - by our current system of government. Can we regain our independence?

- Source, Ron Paul

USA Watchdog: $90 Trillion in Treasury Debt, It’s Not Just Bad Accounting

Michigan State Economics Professor Mark Skidmore’s latest update to the “Missing Money” question is now the biggest in history by a long way. 

Skidmore’s research reveals the US Treasury market is rolling over $90 trillion to support the official debt of $22 trillion (2019.) That’s on top of the $21 trillion Skidmore revealed in so-called “Missing Money” in late 2017. 

Why do you need to churn $90 trillion in debt? Is the US debt really $90 trillion? What could go wrong with this much hidden debt? Skidmore says, “Yes it is concerning to me because this could blow up. 

We don’t know when or how, but if people lose confidence in our government, they could lose confidence in the currency. That could have severe impacts on lots of people in the whole global economy above and beyond what we are experiencing now.

Is there some reset in play? Is there some bigger issue at stake? Is this pulling away with other goals in mind? 

Yes, I think so. I don’t know how this all fits together but I do know there is something else going on that we all need to pay attention to.

I have documents that say something is really, really wrong, and it’s not just bad accounting.”

- Source, USA Watchdog

Ron Paul: Trade War With China, Beware of The Hot War

The great Frederic Bastiat said that "Trade barriers constitute isolation; isolation gives rise to hatred, hatred to war..." This is the path that should be avoided. 

If America is unattractive to entrepreneurs, and is falling behind competitively because it is saddled with the biggest government on earth, perhaps the focus should be setting the American entrepreneur free from the bureaucracy. 

For obvious reasons, American politicians do not want to decrease their power. They would much rather point the finger outwards.

- Source, Ron Paul

Wolf Street Report: Business Uncertainty About Sales Goes Haywire

I’m going to show you a chart based on data that the Atlanta Fed released today. We’ll dissect it in a moment. The chart would be funny, if it weren’t so serious. At first, just look at the chart superficially. These results are based on surveys of businesses of a wide variety of sizes, spread across all sectors of the economy (except agriculture and government), in all regions of the US. They’re asked about their own businesses, in terms of sales, employment, and capital investment over the next 12 months. And the chart also shows how uncertain the participants are about their own expectations.

So this is about expectations for their own businesses, and about the uncertainty of their own expectations. For now, just look at the chart without analyzing it: It shows better than just about anything else what mess businesses face going forward: Their world has gone haywire.

The pandemic has hit businesses differently. Some businesses have reported booms in demand because of the shifts cause by the lockdowns and other factors, and they have trouble keeping up. Other businesses are in a state of collapse or have filed for bankruptcy. And then there’s every business in between. And these results are the averages of the pandemic’s winners and losers combined.

Expectations of Growth and the Uncertainty of those Expectations

There are two factors here in the Atlanta Fed/Chicago Booth/Stanford Survey of Business Uncertainty: These companies’ expectations; and their uncertainty about their own expectations.
Business expectations.

Expectations of sales growth over the next 12 months (red line in the chart below has been trending down since November 2018 (high of 128.5). This was later borne out by the slowing economy. Those expectations were already low before the pandemic hit in December 2019 (86.7), indicating a further slowdown of the economy for 2020, and remained roughly in that range in January and February.

The collapse of those expectations commenced in March (53.6), and carried through April (0) and May (-36.6). In June, they ticked up but remained terribly low (-28.9).

Expectations about growth for capital investment (green line) and employment (black line) over the next 12 months declined in March, April, and May, but didn’t collapse. And both ticked up in June.

Each of the indices captures the direction and magnitude of how these companies expect sales, employment, and capital investment to change over the next 12 months. The indices have been set with a mean of 100 from January 2015 through December 2018.

Uncertainty about of those expectations

But businesses face a wall of uncertainty, and consequently, have become very uncertain about their own expectations – particularly about their expectations of sales growth. The uncertainty index tracks the gap between each company’s “lowest” and “highest” sales growth scenarios, or when the company assigns a higher probability to their “lowest” and “highest” case scenarios.

The uncertainty index for sales expectations (red line in the chart below) began spiking in March, but unlike sales expectations, the uncertainty about them continued to spike in June.

In comparison, the uncertainty about their employment expectations remained relatively low, but nevertheless ticked up in June the highest level in the data series. Uncertainty about investment remained range-bound:

So, plotting on the same chart the businesses’ expectations of sales growth and their uncertainty about their own expectations of sales growth shows the environment that companies find themselves in. While expectations of sales growth for this coming year plunged, the businesses are totally uncertain about those expectations, and they assign high probabilities to both extreme scenarios – a strong recovery in their sales or continued misery in their sales.

What these businesses are saying is this: They took a big hit in sales and in June still expected those sales to remain at low levels for the next 12 months, but they have no visibility over those 12 months, and have no clue how this will turn out, and lack any kind of confidence in their own expectations of where sales might go.

Practically by definition, a business decision maker has to expect sales growth, and has to figure out how to make it happen. That’s part of the job.

But unless visibility increases and certainty about their own expectations increases, it’s going to be tough to plan and make long-term decisions with confidence. From a business point of view, this is a mess.

- Source, Wolf Street Report

The Only Question Gold Investors Are Asking: How High is the Price Going?

It has been a big week for the gold market as surging momentum has pushed prices to their highest level in nearly eight years. 

In an interview with Kitco News, George Milling-Stanley, chief gold strategist at State Street Global Advisors, said that he continues to expect gold to push higher through the rest of the year. 

Although his base case doesn’t call for $2,000 gold by year-end, he added that a move to that level is not out of the “realm of possibilities.”

- Source, Kitco News

There Will Be No Great Depression, Fed Restructuring Has Begun

Todays interview is with Bob Kudla. Bob talks about the economy on how it is recovering. 

There will be no great depression but the market might drop a bit, but it will soon recover. 

The treasury has now taken control over the fed and the restructuring has begun. The treasury has taken control of the printing press.

- Source

Gold’s Safe Haven Appeal Will Drive Prices Not Inflation

Unprecedented monetary policy action will boost long-term inflationary pressures, supporting gold's long-term uptrend; however, one market strategist said that investors should keep their eye on economic uncertainty to push prices out of their month-long trading range. 

In an interview with Kitco News, Kristina Hooper, global chief investment officer at Invesco, said that although some economic data have improved recently, the global economy is still far from recovering from the devastation it saw as a result of the COVID-19 pandemic. She added that the threat of a second wave of the virus will be another headwind for the recovery.

- Source, Kitco News