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Post by Entendance on Sept 15, 2022 10:49:42 GMT -5
Eurozone’s financial fragility
' Money supply took off during covid lockdowns. It is now about to take off again to pay everyone’s energy bills. But that is not all. Demands for currency and credit to be conjured out of thin air to pay for everything will be coming thick and fast. Expectations that energy prices, including European electricity, have peaked are naïve. Putin has yet to put the winter and spring screws on Europe and the world fully. It will be surprising if global oil and natural gas prices in Europe are not significantly higher on a twelve-month view. And Europe has messed up its electricity supplies — that is where the energy costs will rise most.
Bankers are trying to reduce their loan exposure to rising interest rates, undermining GDP. Besides paying for everyone’s energy bills, rescuing troubled banks, collapsing tax revenues, and difficulties in selling government debt on rising yields, governments are expected to apply economic stimulus to support both their economies and financial markets. Furthermore, this article points to evidence as to why the expansion of central bank credit has a far greater impact on prices than contracting bank credit. The replacement of commercial bank credit by central bank credit will have a far greater inflationary impact than the deflation from bank credit alone.
Attempts to rescue the American, European, and Japanese economies by replacing commercial bank credit with central bank credit will probably be the coup de grace for fiat. We can begin to anticipate the path to the destruction of purchasing power for all fiat currencies, not just those of Zimbabwe, Turkey, and Venezuela et al. A global hyperinflation is proving impossible to avoid...' Inflation is turning hyper
Not all sociopaths wield knives and knotted cords. Some wear suits and are articulate. Obsessively driven, they use the law for their advantage. Lawlessness is their addiction, their will to power. What they want is to fill the emptiness in their being by consuming others. They find no commonality with the ordinary contentment of life, because of their alienation from all that is human. This is the undeniable lesson of the last century. There are monsters, and they walk among us. -Jesse
The stunning hypocrisy of the EU
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Post by Entendance on Sept 18, 2022 2:24:33 GMT -5
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Post by Entendance on Sept 28, 2022 17:35:52 GMT -5
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Post by Entendance on Oct 12, 2022 1:28:34 GMT -5
Economist and founder of ShadowStats.com, John Williams says the government’s “phony numbers” don’t show the public how bad things really are with the economy. Williams prides himself in giving you the actual economic numbers without “accounting gimmicks” that make things look better than they actually are. For example, the latest official government number on inflation shows 8.3%. It’s officially a 40-year high. It gets worse when you strip away all the “accounting gimmicks,” and you see the real number that is burdening real people in the real world. John Williams explains, “My inflation number shows a 17.3% peak in June, and right now it is 16.5%. That is at a 75-year high. I think you will find people are having a more difficult time than they were having 40 years ago.” On the unemployment front, the government is touting a 3.5% unemployment rate. What are the real numbers when you count all unemployed people no matter how long they have been looking for work? Williams says, “The unemployment numbers are frightening...I think we are seeing what I consider a phony number of 3.5%. After a year, the ‘discouraged worker’ disappears as an issue...The unemployment number is really 24.4% the way it used to be counted by the Bureau of Labor Statistics (BLS).” Williams is not expecting things to get better anytime soon. Williams contends, “I think the economy is going to get a lot worse. If you listen to what (Fed Head) Jay Powell said at his last press conference, he said he’s looking to create a recession. That’s effectively what he was saying, and they are doing it...I think you have higher inflation ahead. I would try to get my cash into assets that adjust for inflation such as gold and silver. You also need to get something that has a long shelf life...The problem here is going to be in the next year. You are going to see the economy getting worse and inflation getting worse. I don’t see the Fed cutting back on the money supply, and they are already telling you they are going to keep raising the interest rate. Good buys are things that will spike with inflation...Stock up on canned food...I think you are going to see a few more percentage points on the government numbers coming up. That can, and I think will, happen as things deteriorate here.”
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Post by Entendance on Oct 28, 2022 9:17:56 GMT -5
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Post by Entendance on Nov 6, 2022 3:13:43 GMT -5
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Post by Entendance on Nov 25, 2022 3:23:54 GMT -5
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Post by Entendance on Dec 2, 2022 14:08:56 GMT -5
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Post by Entendance on Jan 9, 2023 16:58:14 GMT -5
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Post by Entendance on Jan 17, 2023 11:56:14 GMT -5
List of Global Systemically Important Banks G-SIBs
Repetita iuvant: Gold, the only kind of money that isn’t someone else’s liability and dependent on others’ financial soundness. Gold has a self-intrinsic value not contingent on someone else's mere promise to pay. Thus, Gold in its physical form is still the ultimate form of financial insurance.
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Post by Entendance on Feb 1, 2023 8:56:34 GMT -5
'Most investors, sensing a recession, are doing what most investors typically do in bad times: Make bad choices. Key among these bad choices is the traditional flight to long-dated US Treasuries as a “safe haven” as markets and economies head south. I am here to suggest that such a traditional safe haven is now more like a death trap. Why? Well, the answers are found in blunt facts and simple math—two themes our policy makers have long-ago decided to cancel, deny or ignore...' Bonds Die, CPI’s Lie & Gold Rises
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Post by Entendance on Feb 10, 2023 8:58:18 GMT -5
In this week’s Live from the Vault, the renowned financial expert, Alasdair Macleod sits down with Andrew Maguire to investigate Russia’s plans to devise a gold and commodity-based replacement for dollars as a new trade settlement currency. The famed economist prognosticates the return of sound money as the ingredient for a new, Asia-wide industrial revolution, while the western financial system continues to decay in line with the accelerating debasement of fiat currencies.
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Post by Entendance on Mar 16, 2023 11:16:17 GMT -5
'Following the day-to-day twists and turns of a banking crisis can make us lose sight of the bigger picture. It is tempting to think that the banking authorities are in control, and they will secure the integrity of their commercial banking networks. Unfolding events may or may not prove this to be true. The bigger picture is that the forty-year decline in interest rates is over, as well as the financial bubble that has built up with it. And we should also be aware that there is a cycle of bank credit, the downturn of which is long overdue. The two have come together to create chaos in credit markets. The reality is that central banks have already lost control over monetary policy and interest rates. Interest rates are now being driven by contracting bank credit, not by monetary policy. The point which is commonly missed is that contracting credit at a time when credit demand is still increasing inevitably leads to higher interest rates and bad debts. Having lost control over interest rates, the Fed has been forced into its much-heralded pivot, not by reducing interest rates, but by offering to buy Treasury and Agency debt at face value whatever the coupon and maturity. This rescues banks from the immediate fate that collapsed Silicon Valley Bank. And it makes it easier for the US Treasury to fund its deficit while containing borrowing costs. But it is highly inflationary. The pivot has now been made. The Fed has decided to rescue financial markets at the expense of the currency. Other central banks can be expected to follow suit to help rescue their banking systems. But in the process, they are writing the death warrants for their fiat currencies...'
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Post by Entendance on Mar 22, 2023 3:19:35 GMT -5
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Post by Entendance on Apr 2, 2023 8:17:56 GMT -5
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Post by Entendance on Apr 10, 2023 7:13:10 GMT -5
Matthew Piepenburg addresses the current and vast range of headline market topics, signals and risks. Inflation, deflation, risk assets, bond stress, cryptos, war, bank failures, CBDC’s rise, trapped policy makers and, of course, the topic of precious metals are all carefully and plainly discussed. Piepenburg’s broader views on current and future financial conditions are bluntly yet realistically presented as a “no way out” scenario for global economies distorted by cornered central bankers. The bottom line is as simple as it is incontrovertible: The global economy is stuck in a doom loop of debt. Either central banks raise rates to allegedly “kill inflation” by killing the economy and markets, or they resort to more mouse-click money and kill the currency in your wallet. Historically, all debt-cornered nations spur collapsing markets followed by collapsing currencies and inflation-driven social unrest. Leaders of all eras and stripes (left or right) then address this unrest with tighter, more centralized controls over our economies and lives. CBDC is a classic and modern symptom of this timeless pattern. So is war. The current era will be no exception, as history (from ancient Rome to Chairman Mao, or Napoleon to the rise of fascist leaders of the 1930’s) offers no exception. Piepenburg tracks the current evolution of this trend in a Federal Reserve that has tightened too fast and too high, breaking everything in its path in one dis-inflationary debt or banking crisis after the next, which are inevitably “solved” via more inflationary and mouse-clicked dollars. End result? Currency debasement, for which gold is one obvious and historical solution rather than “gold bug” apology. Topic after topic, issue after issue, Piepenburg shows how there is now no easy or “soft” way out for policy makers who tricked the markets and themselves into believing that a debt crisis could be solved via more debt. In the end, the last bubble to burst is always the currency, and the USD, like every other currency, will be no exception.
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Post by Entendance on May 1, 2023 11:08:57 GMT -5
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Post by Entendance on Jul 23, 2023 0:34:08 GMT -5
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Post by Entendance on Aug 20, 2023 9:30:21 GMT -5
What's coming is going to be worse than the late 1970s or early 80s. It is inescapable.
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Post by Entendance on Aug 24, 2023 8:08:45 GMT -5
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Post by Entendance on Sept 17, 2023 2:26:31 GMT -5
Quick Summary Bullets: In the end game, real estate does not provide the desired protection, highlighting the need to consider alternative assets during hyperinflation. “The end of the monetary system as we have known it since 1971 will be when you can buy a house acquire real estate decent real estate for 75 ounces of silver.” The gold-to-silver ratio is expected to fall from 80 to 1 to about 15 to 1, resulting in a significant increase in revenue from silver for Fortuna, a primarily silver miner. “In the end game, I believe at about 75 ounces of silver for a decent sized house.” The value of silver will increase significantly during hyperinflation, making it a more desirable form of wealth preservation than real estate. The speculative hedge funds have never been so short on Palladium, with 11,000 contracts short, while the Palladium producers have never been more long, indicating a potential short squeeze. The speculative positions in the gold and silver futures market can indicate major bottoms and tops, providing insights into the market trends during hyperinflation. According to Rafi Farber, housing does not preserve wealth during hyperinflation, challenging the common belief...
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Post by Entendance on Sept 25, 2023 3:46:31 GMT -5
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Post by Entendance on Oct 5, 2023 10:04:01 GMT -5
The taking of your securities for collateral JPMorgan’s relationship with gold
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Post by Entendance on Oct 16, 2023 4:02:48 GMT -5
Silver is the real power of the people, and it is the one thing the Cartel fears more than anything in the entire world because if the Cartel can maintain control of Silver, the Fed and the Federal government can maintain freedom and liberty destroying power over the people, and it’s obvious we’re at the end of the current Cartel’s grip on Silver, with the “current Cartel” being the ESF (Exchange Stabilization Fund), the Fed, and agents acting on behalf of one or both. Unless it’s not blindingly obvious, let me go ahead and spell it out: This fight will go on for the Cartel until the bitter end, and the closer we get to that end, the uglier and nastier the markets and the economy will be. -Paul “Half Dollar” Eberhart
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Post by Entendance on Oct 24, 2023 2:36:45 GMT -5
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Post by Entendance on Nov 9, 2023 3:10:43 GMT -5
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Post by Entendance on Nov 14, 2023 9:13:52 GMT -5
What is the US Treasury hiding? Bullion Star infographic dramatically illustrates gold price suppression by U.S.
As the world’s preeminent money, now and throughout history, gold is seen by governments and monetary authorities as strategically critical and often a matter of national security.
Not least in the United States, where although the US government and US banks downplay gold, it is precisely because they are terrified of gold’s rise, that these entities are heavily involved in the gold market in a nefarious manner.
This visually stunning new infographic from BullionStar puts the spotlight on the deep involvement of the US Government and Wall Street banks in the gold market, and their nefarious manipulation of precious metals prices, illustrating:
• The supposed size and location of the US Treasury Gold Reserves but the fact that the US Gold has not been properly audited in over 70 years. What is the US Treasury hiding?
• Five massive Wall Street banks dominant the gold market, trading gigantic trading volumes of COMEX gold futures in a giant paper trading game.
• The international gold price is set by paper gold trading in New York and London, and not by physical gold demand and supply, a flawed pricing that causes physical shortages and high premiums.
• Although Wall Street banks have been prosecuted for manipulating precious metals and their traders jailed, the same banks still continue to operate with impunity in the gold market.
• There is continual gold price suppression during New York (NY) trading hours, with returns during NY hours a fraction of returns outside NY hours. This is statistically impossible.
• A US Government group, the Plunge Protection Team (PPT), oversees interventions into markets. This PPT was infamously active in the US silver market during February 2021 where it oversaw a ‘tamp down’ of the silver price to prevent a financial system crisis.
• The US Government, Wall Street and the US mainstream media constantly work to prevent gold gaining in popularity. This is done to protect the US financial system and the reserve status of the US dollar.
• That this price manipulation can’t go on forever. When it fails, the gold price will again be determined by the forces of supply and demand for physical gold.
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Post by Entendance on Dec 5, 2023 13:17:49 GMT -5
World is about to discover that the real risk-free asset is Gold
Bullion Star gold market analyst Ronan Manly today examines the extreme volatility in the gold price since Friday and concludes that the official sector was involved, and for obvious reasons, among them "to paint the tape with such a hugely plummeting daily candle pattern that it would break the psychology of the market, at least in the near term."
Manly quotes an anonymous fund manager: "The reason they manage the U.S. dollar gold price is to make sure that the market doesn't know what risk-free is. And that's what's about to happen when gold breaks higher to new all-time highs. The veil will be lifted."
After 24 years of largely surreptitious official interventions against gold exposed by GATA and others, can this latest and most obvious intervention work for long? Is there any participant in the gold market who still thinks that the New York Fed's trading room and the Bank for International Settlements are mere "conspiracy theories"? Did any participant in the gold market ever really believe that? Were those who asserted as much ever anything less than shills for governments, central banks, and bullion banks? More here
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Post by Entendance on Dec 27, 2023 12:03:45 GMT -5
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Post by Entendance on Dec 31, 2023 3:41:53 GMT -5
Rubino expects precious metals to perform well and points out that $50 to $100 silver is very probable...
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