On the heels of yesterday’s unlimited bond buying announcement by the ECB (Draghi’s version of Operation Twist), we thought this Telegraph image of the front of the ECB building would be apropos for a Caption Contest!!
The US Mint sold nearly 75 times more Silver Eagles than Gold Eagles in August, for the 2nd consecutive month!
The Mint sold 74.6 times the amount of silver than gold in July, and 73.5 times the amount of silver than gold in August.
Physical silver sales simply cannot continue to be 75 times gold sales when the natural in-ground mining ratio is now 8-1 (2011 world average).
If these sales trends continue (and we are currently seeing even more extreme silver/gold sales ratios at SD Bullion), eventually the free market supply and demand fundamentals will see silver EXPLODE IN VALUE RELATIVE TO GOLD. [Read more...]
*Update: Size of the follow-on offering has now been released: 23 million shares for proceeds of $341 million. Nearly identical to the size of the latest PSLV follow-on.
Sprott Asset Management has launched a follow-on offering of it’s physical gold trust PHYS.
The offering will be underwritten by Morgan Stanley and RBC Capital Markets.
Full Release below:
Doc’s Deal Of The Day
2012 Canadian Silver Maple Leaf
AS LOW AS $1.99 OVER SPOT!!
Call Now To Order At 614-300-1094
Gold and silver just made their best Old Faithful impersonations on this morning’s NFP disappointment, as bad news is now good news for the chances of Bernanke announcing unlimited QE next Thursday.
Silver EXPLODED VERTICALLY to $33.50, a full $1.50 move higher from it’s overnight lows. Gold exploded to $1730, a full $50 from it’s overnight lows.
As we recommended last night during the sell-off, all corrections are being met with MASSIVE PHYSICAL BUYING, and we recommend responding immediately to corrections by backing up the truck and STACKING THE SMACK!! [Read more...]
- NFP +96,000 on expectations of + 130,000
- Official Unemployment rate drops to 8.1%
- July revised down from +163,000 to + 143,000
- Gold and silver surging on the news [Read more...]
Gold and silver have been smashed early in Friday’s Asian trading ahead of the US BLS Report, with silver down $1 to $32, and gold smashed $25 through $1700 to $1690.
The cartel will do everything in it’s power to prevent a weekly close in gold above $1700 and silver above $32.50.
After 10 unsuccessful attempts to smash gold below $1700 Thursday, the cartel has finally dumped enough paper on the market to see gold penetrate the level to the downside.
We suspect however that much to Blythe’s dismay, gold’s stay in the $1600′s will be brief. [Read more...]
Welcome to Capital Account. Today, European Central Bank President Mario Draghi announced a bond-purchase program in the euro zone with no set limit. But why should you, who may be thinking about your future and your retirement, care about Super Mario’s latest policy response? Our guest Susan Fujii editor-in-chief of Kung Fu Finance says you can’t afford to ignore the macroeconomic landscape if you are trying to protect yourself in this new economic environment. She joins us to explain why.
By Jim Willie, GoldenJackass.com
- Bankers know they are finished, and are cutting deals to avoid prison
- JPMorgan is losing control of the USTBond & Interest Rate Swap structures
- The destructive Fascist Business Model is in its final chapter, the climax
- A major bank scandal is brewing, from illegal usage of Allocated Gold accounts
All hail August and September, the months to kick precious metals into gear. The year’s bottom was seen in May around the $1550/oz level. The upward movement began at end July and early August. The momentum picked up in late August, and has gained additional vigor in early September. Rumors of a weakened JPMorgan monster have yet to come to light, or be seen in the gold price from their relaxed heavy hand. No limit of naked shorting gold futures is being enforced. The criminality of the currency regime is complete, total, and profound. However, the daily chart shows some new life in a rather impressive reversal in progress. It has much more to run. The $1700 level should be breached very soon with confidence. There might be no looking back. The ruined banks, the ruined sovereign bonds, the ruinous wars, the struggles with mine output, the splendid citizen demand, it all adds up to aggravated price structures pointing to higher prices. [Read more...]
The Bond King himself Bill Gross in a Bloomberg interview today declared gold a better investment than stocks OR BONDS!!
We are now well into stage 2 of the massive secular bull market for gold, as all of the smart money is now rushing out of paper assets and government debt into the true safety of physical gold.
We hope you have already backed up the truck and loaded it down to the ground, as the window is closing on the opportunity to acquire physical gold and silver at extremely manipulated and discounted levels.
Full MUST WATCH interview below: [Read more...]
Submitted by SD Contributor SRSrocco:
I at times have wondered just how much gold there is in the world. I have read some of these articles and reports of the so-called hidden huge hoards of gold.
The legends of Yamashita’s gold discovered in the Philippines by General MacArthur’s Chief of Intelligence claim the treasure weighs in at over 300,000 metric tons of gold.
While these conspiracies sound nice on paper… if we look at the historical gold-silver ratio of production, we may find some answers. [Read more...]
Peter Schiff spent Wednesday interviewing folks at the Democratic National Convention, asking liberals whether they would support a new law to ban all profits.
Those who have even the most basic understanding of the fundamentals of economics will do more than cringe throughout the entirety of this clip, as apparently the entire Democratic Party believes Marxism is the best idea anyone has ever come up with. EVER.
Until the advent of the FDIC, bank runs and failures meant the client lost everything. That why they call them “bank runs”. You run to bank as fast as you can and withdraw your money. The first one out gets the best deal. The FDIC is a hollow shell that will not protect a multi-trillion dollar failure.
Allocated and unallocated storage facilities are likely to be stripped of all precious metals and valuables. When governments go broke the rule of law is the first thing sacrificed on the altar of saving the people and their way of life.
It will get very interesting when 100 paper golden chairs are surrounded by scores of bankers all trying to get a seat on the single physical golden chair when the music stops. [Read more...]
TrimTab’s Charles Biderman’s latest RANT discusses how Obama and the Cntrl + P in chief Ben Bernanke are literally BANKRUPTING THE US. [Read more...]