The Asians are buying gold hand over fist professionally into the current price weakness, while Europeans refrain from purchasing the insurance of gold while the Euro-zone is in the midst of collapsing.
Insurance is not helpful if it is purchased after the destructive event.
While Chinese gold demand in Q1 2012 grew to a record, demand for the precious metal in Europe, especially by investors, remained weak. [Read more...]
For those who weren’t able to attend the Las Vegas MoneyShow, our friend David Morgan’s presentation on silver can be seen below. [Read more...]
Another head fake, or signs that gold and silver may have finally bottomed? Silver and particularly gold have popped on the heels of the Philly Fed’s statement this morning that the recovery is dead. [Read more...]
Get Your Phyzz From The Doc
“Nothing fancy. Just a telephone and low prices.”
Call Now To Order At 614-300-1094
Doc’s Deal Of The Day
100 ounce Johnson Matheny or Engelhard Silver Bar
AS LOW AS 75 CENTS OVER SPOT [Read more...]
The hacks in DC never cease to amaze. As if NDAA and the PATRIOT act weren’t enough, Sen. Chuck Schumer has introduced the Ex-PATRIOT Act (Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy) which seeks to impose a mandatory 30% capital gains tax on anyone who renounces their US citizenship, as well as permanently ban them from re-entering the US. [Read more...]
Jump in Gold as France Refutes EU Pact, Portuguese Contingency Rumored, Chinese Demand Overtakes India
THE WHOLESALE MARKET gold price jumped at the start of New York trade on
Thursday, cutting the week’s previous 3.3% dive to 5-month lows in half as the Euro fell and
Eurozone stock markets slumped once again.
The gold price touched $1558 per ounce before easing $3 lower. Silver did not follow, failing
to break this morning’s earlier Dollar high at $27.86 per ounce.
German Bund yields fell to fresh record lows, but Spain had to offer investors in new 3-year
debt an annual yield of 4.37%, up from the 2.89% charged at the last comparable sale in
April. [Read more...]
The World Gold Council has released the Q1 2012 Gold Demands Trend report.
Gold demand grew 16% over the past 12 months to 1,098 tonnes which had a value of just $59.7bn spent on gold in the entire world in Q1 2012.
While global demand was down 5% from the record high of Q4 2011, it was significantly higher than demand in Q1 2011 suggesting that demand may be consolidating at these higher levels. [Read more...]
BrotherJohnF discusses silver’s technicals, and whether a bottom was placed on Wednesday with 12,000 futures contracts or 60 million ounces dumped on the market in 15 minutes prior to today’s Fed minutes release, or whether silver will re-challenge its lows at $26 in today’s Silver Update. [Read more...]
Our friend SGT has released an interview with Bix Weir regarding JPM’s derivatives book going supernova and its effects on the paper COMEX metals markets.
Sean & Bix discuss The Doc & SRSrocco’s thoughts on the insanity of gold & silver selling off in the face of Euro-zone contagion & JPM’s derivatives crisis.
Bix’s thoughts on the counter-intuitive sell-offs: “This is what the end game looks like… JP Morgan can literally computer rig this thing to zero and shut down the market. I say let em. The trick is to stay out of their system.” [Read more...]
Welcome to Capital Account. Minutes are out from the Federal Reserve’s latest open market committee meeting, which means everyone is looking for what the Fed will do next in order to manipulate rates and thus economic reality.
But what are the consequences of this manipulation? Jim Rickards, author of the bestselling book Currency Wars, is here to talk about them. [Read more...]
COMEX WAREHOUSE SILVER INVENTORY UPDAte 5/16/12 [Read more...]
The 10 year closed today at a new 2012 low of 1.76% after trading as low of 1.752% as fears of Greece finally exiting the Euro and escalating the Euro-zone contagion caused investors to rush into the perceived safety of the US dollar.
The 10 year is signaling an imminent deflationary collapse scenario which we can guarantee will be met with as much quantitative easing as is required to prevent the Greater Depression. The Bernank is too far down the path of his great experiment to stop now. [Read more...]
Our friend Chris Duane of Dont-Tread-On.me has released part 27 to the Silver Bullet/ Silver Shield video series: How Money Dies.
There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. Ludwig von Mises.
The dollar collapse is a mathematically inevitable event. It will also be the largest single event of human history. At some point the debt incurred will be more than the real economy can bear and there will be a default of non payment. Or the other way to default, is that we constantly print more money to keep the system going, that we eventually destroy the value of the currency and people lose faith in it, which leads to a rush out of it and into hyper inflationary depression. -Chris Duane
SBSS 27: How Money Dies [Read more...]
Submitted by SRSrocco & The Doc
I AM COMPLETELY AMAZED AT THE SENTIMENT IN GOLD & SILVER.
We have BANK RUNS in GREECE, 26 downgrades of Italian Banks, Spain & Portugal ready to go into the TOILET, and JP MORGAN getting the ENEMA of its life in its INTEREST RATE SWAPS. So where are gold and silver heading??? LOWER OF COURSE. [Read more...]