Gold and Silver Industry & Investing News

In Gold We Trust: Monthly Gold Compass October 2022 Ronald-Peter Stöferle and Mark J. Valek

Gold Performance in Major Currencies, 2000-2022 YTD...

Ancient Gold Coins Found Hidden in Wall Shed Light on Byzantine Empire

When someone stashed 44 gold coins into a wall in the 7th century, they may have hoped to one day return and find their treasure again. Instead, almost 1,400 years on, the coins have been found by Israeli archaeologists who hailed the discovery as a rare glimpse into an ancient past at a tense time of violent conquest.

Perhaps This Is Why Gold and Silver Have Begun to Outperform the Stock Market

A survey was done by CreditCards.com in which 60% of the respondents said that they have been in credit card debt for at least a year. That’s up from 50% a year ago. Forty percent said they’ve been in credit card debt for over two years. A quarter of those surveyed said that the reason they carry outstanding credit card debt is to cover daily expenses. The Fed’s July consumer credit report (it has a two-month lag) showed that credit card debt hit a record $4.64 trillion. It’s likely that credit card defaults are going to start shooting higher, causing increased stress on bank balance sheets and credit markets.

Banks Divert Gold Supply From India to China, Turkey

Gold-supplying banks have cut back shipments to India ahead of major festivals in favour of focusing on China, Turkey, and other markets where better premiums are offered, three bank officials and two vault operators told Reuters.

JPMorgan Is Worried About Who’s Going to Buy All the Bonds: Bloomberg

“We remain concerned about the (lack of) structural demand for Treasuries.”

Prepare for Capital Controls – The Third Horseman of the Unholy Trinity’s Apocalypse

Historically speaking, according to Napier, “Gold is the standard asset for financial repression.”

Credit Suisse Is in Deep Trouble

The No. 2 Swiss bank and one of the largest banks in the world is in deep trouble and is currently fighting for its survival. A negative outcome is likely to cause a shock similar to that caused by the bankruptcy of the U.S. bank Lehman Brothers in September 2008. This event triggered one of the most serious financial and economic crises since the Great Depression.

BofA Warns Of 'Bear Stearns Moment' If Central Bank Put Fails

Crucially the bank points out that the UK events also highlight that even when a risk is well-telegraphed (global tightening), markets remain full of hidden risks.

Against Interest Rate Reductionism

"Monetary policy is about money, not interest rates. Central bankers should stop trying to implement monetary policy by messing with relative prices. There are better measures and more effective transmission mechanisms." ~ Alexander William Salter

Experts Warn Homebuyers Of Red Flags Beyond Climbing Interest Rates

Over the past two years, houses nationwide were going like hotcakes, with sellers often receiving tens or even hundreds of thousands of dollars over asking price. Buyers often waived inspections and picked up some of the sellers’ costs in dire hopes of securing that coveted single-family home.

Same Story, Different Faces: Trying To Plan & Control The Economy Always Fails

Depositors, Some Armed, Storm 4 Lebanese Banks Over Withdrawal Limits

Outraged bank clients, at least two of them armed, stormed four commercial banks across Lebanon on Tuesday over withdrawal limits that have been imposed throughout the country amid a financial meltdown. Cases of bank hold-ups have snowballed across Lebanon as residents have grown exasperated over the informal capital controls that banks have imposed since...

Rampant Market Mispricing Exposed: Alasdair Macleod

In this week’s Live from the Vault, Andrew Maguire sits down with renowned financial expert, Alasdair Macleod, to demystify the major mispricing in the global markets. The two old friends speak out on the US fighting tooth and nail to retain their world reserve currency status, with the threat of Russia’s gold-based trade currency closing in.

The Federal Reserve is Using Climate Change as a Pretext to Build an American Social Credit System

Here’s some more detail about how we can expect this “pilot exercise” to move forward in the coming months.

Environmental and Political Elites Are Destroying Food Production for "Climate” Goals: Mises

In the Carnegie Museum of Natural History in Pittsburgh, a special thematic part was dedicated to anticipating the future on earth in the winter of 2022. The visitors had the opportunity to vote for the topic they find important and want to learn more about.

Currency Crescendo: Mauldin Economics

Currencies are the economy’s backbone. They carry the signals that make everything else possible. Currency values are also moving targets, particularly since they are no longer tied to gold or any other fixed benchmark. The market rules. It decides how many dollars (or euros, yen, etc.) your asset is worth, and it also decides how much each dollar is worth.

Strong US Dollar Stokes Fear of Most Severe Currency Crash Since 1997

The dazzling rise of the US dollar, which has hit one record after another, is raising fears of a currency crash of a severity not seen since the 1997 Asian financial crisis reverberated around the world.

IMF Debt Sustainability Analysis in Times of Compounding Crises: Still Unfit for Purpose

New IMF debt sustainability framework fails to alleviate concerns over transparency and overoptimism in midst of large-scale debt crisis, as countries face severe austerity and private lenders wait for bailouts.

Credit Suisse and the Fed’s Plunge Protection Team

At 6:53 a.m. this morning (ET), Dow futures were up 454 points. That followed the Dow Jones Industrial Average gaining 765 points yesterday. No one who has been a trader on Wall Street or a stock broker for multiple decades believes this rally is real. Wall Street veterans are thinking that either the Fed’s plunge protection team or the Treasury’s plunge protection team is behind the rally. Equally unbelievable, as the chart above indicates, is the fact that the major mega banks on Wall Street closed in the green yesterday. Many of these are counterparties to Credit Suisse derivatives and thus subject to the potential for contagion.