News December, 2018

gold traders' report - august 16, 2018 August 16, 2018 - 14:34:50 PDT

Gold Traders' Report - August 16, 2018

Later in the afternoon, US stocks trimmed some of their gains while the 10-year bond yield dipped to 2.87%. The DX faded to 96.60, but gold didn’t advance – and dipped to $1173.50. Gold was $1174 bid at 4PM with a loss of $1. Read More »

as emerging market currencies falter, the market eyes systemic risk in asia August 16, 2018 - 13:25:51 PDT

As Emerging Market Currencies Falter, the Market Eyes Systemic Risk in Asia

"Sovereign credit ratings have reached the lowest range since the Financial Crisis. Yet, despite the rising risks, investors have allocated large amounts of their portfolio allocations to EMs relative to Developed Markets (DMs).” Read More »

rbs bankers joked about selling "total f****** garbage” to clients August 16, 2018 - 09:40:51 PDT

RBS Bankers Joked About Selling "Total F****** Garbage” to Clients

"RBS's chief credit officer described the products he was selling to investors as 'total f****** garbage' loans with 'fraud [that] was so rampant … [and] all random. He wrote to colleagues saying that loans were being pushed by 'every possible … styl... Read More »

the cresting wave: "housing tipping back to a buyer's market" August 16, 2018 - 08:30:00 PDT

The Cresting Wave: "Housing Tipping Back to a Buyer's Market"

"Approximately 14 percent of all listings in June saw a price cut, that's up from a recent low of 11.7 percent at the end of 2016, according to a new report from Zillow. In addition, home price growth is slowing in nearly half of the 35 largest U.S.... Read More »

"it's the pension promises, stupid!" August 16, 2018 - 06:44:07 PDT

"It's the Pension Promises, Stupid!"

Broken math equations are the fundamentally flawed quicksand upon which the US financial system is currently built. Nowhere is this more apparent than in hopelessly insolvent public pensions. The only two sides that can't admit this? Willfully blind... Read More »

new housing starts with a giant miss: 0.9% reality vs. 7.4% expectations August 16, 2018 - 06:05:37 PDT

New Housing Starts With a Giant Miss: 0.9% Reality vs. 7.4% Expectations

For the second month in a row, expectations of a robust and resilient housing market meet the firm reality of a market that is realizing its bubble days are drawing to a close. Read More »

just like 2008: fbi investigating multi-billion-dollar mortgage fraud case August 16, 2018 - 05:31:06 PDT

Just Like 2008: FBI Investigating Multi-Billion-Dollar Mortgage Fraud Case

And, of course, the mortgages in question involve Ginnie Mae and Freddie Mac, meaning they're guaranteed by the American taxpayer. It's a system so broken and so lucrative to defraud, bubble-level prices make it a near-inevitability. "If borrowers or... Read More »

global us treasury dump continues: japanese holdings down to 7-year low August 16, 2018 - 05:16:17 PDT

Global US Treasury Dump Continues: Japanese Holdings Down to 7-Year Low

Russia, Turkey...now Japan. $18.4B in Japanese capital flowed out of US debt in June. China and Germany also joined the trend as net sellers for the month. Read More »

turkey in the midst of all-out us treasury liquidation August 16, 2018 - 05:07:08 PDT

Turkey in the Midst of All-Out US Treasury Liquidation

In perhaps the least surprising development yet in the ongoing lira crisis and the increasing ill will between Turkish and US administrations, Turkey has sold over half of all their USTs since the beginning of the year. Read More »

gold traders' report - august 15, 2018 August 15, 2018 - 17:08:38 PDT

Gold Traders' Report - August 15, 2018

The 10-year yield climbed back to 2.866%, and the DX hovered between 96.66-96.72. However, residual selling in gold continued, and support at $1,175 was eventually broken. It traded down to $1,173 – a fresh 19-month low – and was $1,175 bid at 4PM wi... Read More »

maduro moves to swap out venezuela's worthless currency for its worthless cryptocurrency August 15, 2018 - 11:34:17 PDT

Maduro Moves to Swap Out Venezuela's Worthless Currency for Its Worthless Cryptocurrency

Maduro's tap-dancing, 3-card-monte-esque shell game rollicks on, as he is now pegging the country's pension and salary systems to the Petro, the country's universally derided crypto (headlines include "The Petro Is The Ultimate ICO Scam" and "Venezue... Read More »

silver price alert: 4% off on silver today...courtesy of the markets! August 16, 2018 - 05:12:22 PDT

SILVER PRICE ALERT: 4% Off on Silver Today...Courtesy of the Markets!

Silver is trading below $15 for the first time since 2016. Take advantage of this flash sale in silver, courtesy of the silver market itself, now! The gold/silver ratio, our favorite silver buy indicator, is now at 82. Invariably, when it has moved a... Read More »

after lira crashes, russia works on circumventing us dollar in trade with turkey August 15, 2018 - 10:49:21 PDT

After Lira Crashes, Russia Works on Circumventing US Dollar in Trade With Turkey

Russian Foreign Minister Sergei Lavrov touted Russia's progress with not only Turkey, but also Iran and China, in normalizing native-currency trade between his nation and other willing partners who hold a negative view of the US dollar's world domina... Read More »

currency changers run out of lira as everyone can now afford turkish vacation August 15, 2018 - 09:56:29 PDT

Currency Changers Run Out of Lira as Everyone Can Now Afford Turkish Vacation

"The International Currency Exchange (ICE) said that it had run out of Turkish lira on Tuesday, after a surge in demand as an unprecedented number of Britons travel to Turkey to make the most of the weak Lira. Orders for Turkish Lira to its UK websit... Read More »

Play Video st. angelo: "how gold & silver will trade during the next market crash" August 15, 2018 - 07:01:39 PDT

St. Angelo: "How Gold & Silver Will Trade During the Next Market Crash"

Steve St. Angelo from SRSrocco REPORT describes why he doesn't see precious metals falling much in the next market crash. Read More »





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Do you know where most of the purchasing power in the United States comes from? In addition to reactionary economic policy that drives the printing of new dollars whenever the whim strikes, paper currency extends its reach through fractional reserve banking. In the past, currency had to be borrowed from those who were saving; now, it is stretched to the breaking point. Today, every bank loans out the maximum allowed. When you deposit $10 in a checking account, that bank can loan out all but ten percent. That $9 is passed back into the economy and deposited into another bank; 90 percent of that deposit can again be loaned. Ultimately, a $10 deposit in a checking account creates $100 in fractional currency. A single dollar, in the hands of a modern bank, can become ten or more with fractional reserve lending.

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