NEWS
Gold and silver market moving news, curated from the best of GoldSilver's team and around the web. Check back often for updates, or subscribe to get the highlights in your inbox.
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Why, in the End, Powell Will Let the Stock Market Dictate His Policy
"Those who had taken Powell’s comments at face value were convinced that he wouldn’t shift policy simply because the stock market dipped a little. What’s 350 S&P points when the stocks market is up 2300 over the past decade? Surely Powell will not cave at the first dip. Wrong. He folded like a lawn chair."
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BIS Warns on Clearing System "Financial Seizure" Risk From $540T in Derivatives
"The pillars of the global financial system are fundamentally unstable and could lead to a frightening chain-reaction in the next crisis, the world’s top watchdog has warned."
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Ron Paul: Coming Correction Could See Conditions "Worse Than 1929"
"It's so important to understand the original cause of the problem, and that is the Federal Reserve running up debt and letting politicians spend money."
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When the Only Way to Get Elected Is to Make Mathematically Impossible Promises
"The past few years have seen more than the usual amount of political upheaval. But, interestingly, most regime changes have resulted in pretty much the same thing: Higher government spending and bigger deficits."
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Measure of Homebuilder Optimism in Freefall Amidst Dismal Buyer Traffic
"Additionally, as Bloomberg notes, a gauge of the NAHB six-month sales outlook dropped to the lowest since March 2016 while a measure of current sales for single-family homes decreased to a three-year low."
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No Going Back: Once QE Has Been Done Once, It Will Never Be Permanently Ended
"Central banks are seen ready and willing to call upon 'money printing' operations as need. The great virtue of this policy course, many believe, is that there is essentially no limit to the scope and duration of 'QE infinity.”
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Bloomberg: "The Bubble's Losing Air. Get Ready for a Crisis"
"The 'everything bubble' is deflating. The fact that it’s happening relatively slowly shouldn’t blind us to the real threat: The world is dangerously underestimating how hard it’ll be to deal with the fallout once it pops."
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Economic Times: "Why It Makes Sense to Invest in Silver Now"
"Despite a period of uncertainty— US-China trade war concerns, sanctions on Iran, fall in the rupee, etc.—silver, unlike gold, has not seen a rally. The market not recognizing the dual status of silver—bullion and industrial commodity—is the prime reason for the metal’s underperformance."
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"Conflict Gauge": Dalio's Proprietary World Stress Meter at Highest Level Since 1940s
"For almost two years now, Bridgewater Associates Founder Ray Dalio has been telling anyone who will listen that the rise of anti-establishment populist parties presents a greater threat to markets than the ebbing of monetary stimulus and burgeoning national debt."
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The Line Chart That Just Goes Up: The Unstoppable Rise of Student Debt
"Over 90% of student loans are guaranteed by the U.S. Department of Education, meaning that if a recession causes a rise in youth unemployment and triggers mass defaults, this contingent liability could prove burdensome for the U.S. government budget,"
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"When the Bank Says No": Welcome to Private Credit, the Wild West of Lending
"What began guardedly, as traditional lenders retreated post-Lehman, has exploded into a financial-industrial complex rapidly approaching $1 trillion, with money streaming in from pension funds, insurers and hedge funds."
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IMF: Trade War Hurting Global Growth, May Cut Expectations a Second Time
"Citing the potential fallout from the Sino-U.S. trade war, the IMF cut its global growth forecast in October to 3.7 percent for both 2018 and 2019, down from 3.9 percent projected in July."
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First Criminal Charges Against Goldman Sachs for IMDB Fraud; Malaysia Seeks $2.7B+
"Malaysia filed criminal charges against Goldman Sachs and two former executives for "grave violations of our securities laws" relating to its $6.5 billion Malaysian sovereign wealth fund."
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Credit Market Begins to Freeze: Zero Junk Bonds Priced for Month of December
"Not a single company has borrowed money through the $1.2tn US high-yield corporate bond market this month. If that freeze continues until the end of the month, it would be the first month since November 2008 that not a single high-yield bond priced in the market."
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Meanwhile, in Europe: "Disastrous" Online Sales Numbers; "Retail Apocalypse"
"This goes against the script,” said Stephen Lienert, a credit analyst at Jefferies. “It was supposed to be bricks and mortar that’s dying and online is the future, but that headline gets ripped up today."
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After Guilty Pleas by Metals Trader, JPMorgan Could Be Hit With Class Action
"A combined case, seeking class action status, would include anyone who purchased or sold futures contracts or an option on NYMEX platinum or palladium or COMEX silver or gold between at least Jan. 1, 2009, and Dec. 31, 2015."
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Gold Traders' Report - December 14, 2018
Later in the afternoon, US stocks took out their earlier low (S&P finished off 51 to 2600), while the 10-year yield moved down to 2.882%. The DX remained steady around 97.45, and gold was $1,238 bid at 4PM with a loss of $4.
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End of Year Reminder: Sell ETF Losses & Buy Physical Metals — No Wash Sale Rule
Do you have paper losses in a gold ETF for tax year 2018? If you act by December 31, you can capture that loss on your taxes without losing your exposure to metals. Here's how.
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Why Owning Shares of a Gold or Silver ETF Is Not the Same as Owning Physical Gold or Silver
On the surface, buying a bullion-backed exchanged-traded fund seems harmless. Gold ETFs track the price of the metal, don’t require you to store any bullion, and even list the serial numbers of the bars on their website. But similar to the old joke about “waterfront” land in Florida that turns out to be swampland, so too are these products once you glance under the hood.
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Daniel LaCalle: "It Is Not About Trade War. It Is Global Debt Saturation"
"While global debt soared above 300% of GDP and the vast majority in countries worldwide increased fiscal deficits, global debt rose almost 5% and growth estimates fell 10% in the Jan. to Nov. period. Debt saturation. More debt, less growth."
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