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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Putting the 'Con' in 'Confidence': All the Fed Really Has to Offer Is Smoke and Mirrors
The Fed, by way of "solutions", only has options that further compound the mistakes of its past at its disposal. Trapped in a system of its own creation that is now broken beyond repair, all it can do is delay the inevitable while giving disingenuous, empty speeches about how it has everything under control.
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Contrarian Delight Part 2: Hedge Funds in Very Rare Net Short Total Gold Holdings Position
Managed Money Net Gold Futures are almost *never* out-and-out short. And they are right now, to the largest extent they have been in over a decade. The stuff historically-over-negative-sentiment inflection points are made of.
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Contrarian Delight: The Last 4 Times Hedge Funds Were This Down on Gold, It Rallied Hard
"Gold and silver hedge funds have the least exposed position to the gold market since 2016. We are seeing one of the largest negative correlations ever. All the other times that they were this extreme, the gold market bounced substantially."
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S&P Continues Euphoric, Detached-From-Reality Rampage, 0.5% From New High
The difficult work that is required when you're right about the fundamentals of hyper-overvalued markets, and the crash they indicate is inevitable, is sticking to your guns and being early (which appears at the time to be "wrong") and contrarian for a while. You never know how long the greed-delusion feeding frenzy will last. But it can't, and won't.
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Brexit Is a Sidelight and the EU Will Collapse Regardless
Pressed with economic and social issues within their own borders, the members of the European Union are increasingly retreating into themselves, seeking national solutions, and in direct conflict with the goals upon which the EU was founded.
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Gold Traders' Report - August 7, 2018
The 10-year yield ticked up to 2.977%, but the DX slipped back to 95.17. Gold was $1210 bid at 4PM with a gain of $2.
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Is China Perma-Bidding Gold With Its Rapidly Devaluing Currency?
The most plausible explanation for the recent tick-for-tick correlation between the Chinese yuan and the gold price. China is no longer valuing gold in US dollars, but in the yuan, and bidding accordingly. Both in size and at ever-declining prices as its currency falls.
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China's $1T Apple Chip: Beijing Threatens to Weaponize AAPL's Asian User Base
Chinese state media indicated that Apple should share its profits with the Chinese people, who disproportionately contribute to the $1T-market-cap tech company, and warn that anti-US economic sentiment in the country could be brought to bear upon it.
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Who Says There's No High-Yield Fixed Income? Turkish 10-Year Bond Returning 20%+
Has the market finally found what it deems to be a risk too great to take? On the one hand, Goldman is calling for the total demise of the entire Turkish financial system. But on the other...20%!
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Americans Aged 65-74 See 204% Surge in Bankruptcy Filings
A disturbing trend sees bankruptcy rates directly correlated with aging just as America's population beings a demographic shift that will leave it significantly older, on average, than it has ever been.
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US Wealth Gap Is Largest Since Just Before the Great Depression
"In 2015, the top 1% of Americans made 26.3 times as much income as the bottom 99 percent. The top 1% of Americans took home more than 22% of all income. That’s the highest share since a peak of 23.9% just before the Great Depression in 1928."
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China Unimpressed With US's "Zero Sincerity, Two-Faced, Carrot-and-Stick Diplomacy"
The schoolyard namecalling between the two largest economic powers in the world continues as they prioritize posturing over progress. The no-winners, all-losers trade-becoming-currency war chugs along, doing pointless economic damage to both sides.
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Germany Is Owed Over $1T in Target 2 Balances But "It Doesn't Matter" (??!)
As the amounts of unrepayable debt in the eurozone mount, explanations for how that's somehow not a problem get more farcical. The un-aptly named 'Eurointelligence' says it doesn't matter because the debt is "virtual." Much as the US's $20T in debt isn't actually printed in paper currency held by foreign states. So it must not matter either.
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Trump: "Anyone Trading With Iran Will Not Be Trading With The U.S."
With a fresh round of sanctions against Iraq, the ball is now squarely in the Chinese, Russian, Indian, Turkish and much of Europe's court. And in Iran, where inflation is ramping out of control and there is already significant civil unrest due to economic conditions, external pressure with an eye toward regime change is ratcheting up.
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This Economist’s Research Says the Next Crisis Could Be Worse Than the Great Depression
Join GoldSilver's Jeff Clark as he explores economist Steve Keen's harrowing look into Zombie Nations (and those who are starting to undergo their own metamorphosis into the terminal-debt dead) in his book "Can We Avoid Another Financial Crisis?" Spoiler alert: No.
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The 2008 Crisis: 10 Years Later, The Fallout, Still, Is Everywhere
In this masterful overview and deep dive into the Great Recession, an exploration of the economic shockwaves that reverberated through the entire country, and the rubble many are still sifting through.
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'Black Swan' Author Nassim Taleb: "No One Who Caused the Crisis Paid Any Price"
The best way to ensure no lessons are learned from an avoidable crisis is to shield those who caused it from any meaningful consequences for their actions.
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The Fate of All Fiat: The Marvel of Gold Priced in Venezuelan Bolivars
"Amid the corruption and mismanagement, the only thing helping the country pay its bills right now is gold. Two years ago, it had the world’s 16th largest gold reserves. Today it stands at number 26 as it’s sold off more than half its holdings since 2010."
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As US Sanctions Loom, Iranian Citizens Stock up on Gold
All the world 'round, through thousands of years, the story has been and remains the same: In times of financial crisis and currency inflation, gold is the failsafe fallback that never, ever loses its store of value.
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Facebook to Banks: Give Us Customer Account Data, We’ll Give You Our Users
"Facebook has asked large U.S. banks to share detailed financial information about customers, including card transactions and checking account balances, as it seeks to boost user engagement."
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