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Explosion or Implosion?: February 19, 2020

DEheadlines_orig

“Gold, Mr. Bond.”

Gold price holding steady following mixed U.S. housing construction numbers
Gold prices are holding gains above $1,600 following mixed construction activity in the U.S. housing sector picked up in January.

Commerce Department said on Wednesday that U.S. housing starts fell 3.6% to a seasonally adjusted annual rate of 1.567 million units in January, down from December’s revised rate of 1.626; however, the data handily beat expectations as consensus forecasts were calling for the annual rate to drop to 1.40 million units. At the same time, building permits data, which is a precursor to future projects, was up 9.2% at 1.4551 million last month, up from December’s revised level of 1.42 million units. Economists were expecting to see 1.45 million permits.

The latest housing data is not having much impact on gold as prices have held relatively steady in initial reaction. April gold futures last traded at $1,608.80 an ounce, up 33% on the day… (Continue to full article)

…chuggin’ along

Gold holds gains after Jan. U.S. producer prices jump 0.5%
Spot gold held overnight gains after a Labor Department report showing that U.S. producer prices for finished goods jumped by a seasonally adjusted 0.5% last month. Spot gold was last up $5.40 to $1,606.60 an ounce.

The core index for PPI, excluding the volatile food and energy sectors, was up 0.3%.

Going into the report, consensus expectations compiled by news organizations had been for a rise of 0.1% or 0.2% in the headline figure. The core rate was expected to be up 0.1%… (Continue to full article)

Hi-Ho Silver, awaaay

Gold tests the panic high; SILVER breaking out
The metals continue to surge, as gold tested the Jan. 8 overnight, silver may reverse, and platinum continues to run. This action can be either bullish or bearish, based on how the metals trade the next couple of days.

Gold and platinum are in a possible blow-off formation, which means that this breakout out should fail, followed by some consolidation, before resuming the rally. The higher volume and price action indicate a slight pullback is close; however, the pattern remains bullish.

Silver is in the process of breaking out… (Continue to full article)

The U.S. Economy is RIGGED, & it Isn’t to favor you
Most Americans correctly believe that the United States economy is rigged and manipulated. While most don’t understand how (The Federal Reserve, lobbying, and taxation) it’s done, businesses and government regularly collude to create an economy most favorable to their own wealth and power goals… (Continue to full article)

Strange Stuff on Wall Street: Big Job Cuts, Fed Bailout, Record Markets
HSBC has become the latest bank with a big Wall Street footprint to announce job cuts. After announcing that its 2019 profits fell by about a third, it said it would cut 35,000 jobs over the next three years. Some of the job cuts are expected to fall within its investment banking business in the U.S.

The HSBC news comes amid a steady drumbeat of similar news on Wall Street. In July of last year, another European bank with heavy derivative ties to Wall Street, Deutsche Bank, confirmed plans to cut 18,000 jobs. In the same month, Bloomberg News reported that Citigroup would be cutting hundreds of trading jobs. Then in September Commerzbank announced it would trim 4300 jobs. That news was followed by CNN reporting in December that Morgan Stanley would cut 1500 jobs… (Continue to full article)

Bloomberg Has Built a Star Wars Machine to Try to Steal the Democratic Nomination
Bloomberg is used to getting his way. After serving two terms as New York City’s Mayor as a Republican, he used his own vast stash of cash to repeal term limits and give himself another four-year term, running as an Independent. Now he has promised to do the unprecedented: spend $1 billion of his own money to install himself as President of the United States, running on the Democratic ticket… (Continue to full article)

The Betrayal Of The Elites
We need institutions, including families, associations, churches, corporations, trade unions, political parties, professions such as law and medicine, as well as the formal institutions of government such as Congress, the presidency, and the courts.

They are, as Levin puts it, “the durable forms of our common life.” They serve purposes or missions, like educating the young, resolving disputes, or defending the country. They give life meaning by assigning roles, teaching self-control, and enforcing standards. In the process, they form the character of those who participate in them.

But we no longer trust them. What went wrong?… (Continue to full article)

[Got physical… close at hand?]

Let’s do something about that…

Kettle Moraine, Ltd.
P.O. Box 579
Litchfield Park, AZ 85340
Call or TEXT: 1 – 602 – 799 – 8214
gold@morganapreciousmetals.com

Posted in Double Eagle Headlines | Comments Off on Explosion or Implosion?: February 19, 2020

Yeah, Sure – a BOOMING Economy?

10:25 a.m. (EST), February 17, 2020: Pier 1 Imports Files for Chapter 11 Bankruptcy
Pier 1 Imports has filed for bankruptcy with plans to sell the company, less than two months after the troubled home-decor retailer said it planned to close up to 450 stores and cut costs to slow down its cash burn…. (Continue to full article)

35 Brands That Are Closing Stores This Year… and much MORE
So, you thought that the economy was doing so great – huh?

But the list goes on, and on and on… (Continue to full article)

Restaurant Chains That Won’t Make It Through the Year
OMG Esther, where in the hell we gonna eat tonight???

Well folks – looks like ya better polish up your own cookin’ skills… (Continue to full article)

Posted in Double Eagle Headlines | Comments Off on Yeah, Sure – a BOOMING Economy?

Dateline: February 13, 2020

DEheadlines_orig

This turbocharged debt cycle will end miserably — it’s just a matter of when
It is clear that it would have been a very hard sell a year ago that every single risk-on asset class from equities, to corporate bonds, to commodities would end up rallying as much as they did in 2019.

There have probably never been as many characteristics of a top as we are experiencing today… (Continue to full article)

Photo: Louie Douvis

The Eternal Relationship Between Gold and Global Crisis
Though it is often referred to by critics and elitist central bankers as a “barbaric relic”, there is no denying that gold is usually the go-to asset during times of crisis and uncertainty. And as much as they pretend to hate it, even the elites secretly stock the precious metal whenever the economy goes awry. In fact, you can almost predict when things will go bad simply by watching how much gold central banks around the globe stockpile in a particular year… (Continue to full article)

Silver Most UNDERVALUED Metal Out There
Relative to all asset classes, I can’t think of one that is more undervalued than silver. If you look at every asset in the metals world, meaning base metals . . . anything to do with the periodic chart, every one of them has obtained a higher price level than it was in 1980 except silver.. (Continue to full article)

Is Coronavirus The Black Swan That Takes Gold To-Da-Moon?
Amid the worries about the coronavirus and its impact on the global economy, the US yield curve has briefly inverted again. Recession, anyone? And what exactly does the inversion imply for the gold market?

Ooops, it happened again – the yield curve has inverted! Please take a look at the chart below. It shows that at the turn of January and February, the spread between 10-year and 3-month Treasuries has dived below zero once again. It stayed below zero only for a couple of days before moving back into the positive territory… (Continue to full article)

Credit-Card Interest Rates Soar to Record High, Bond Yields Drop to Record Low: What Gives?
My “Credit-Card Spread Index” blows out. Heck if I knew what that means, but it doesn’t mean anything good.

The average yield of investment-grade bonds (as per ICE BofAML US Corporate Yield index) dropped to a record low of 2.62% this week. This comes after the Fed cut its policy rates three times last year, from already low levels, to even lower levels, and after it bailed out the repo-market with over $400 billion over a period of just three months… (Continue to full article)

Is that all there is? For today – YES! …as for tomorrow, or next Tuesday or Thursday – we are not sure. The financial news has been taken over by the International Virus, which was named after a crappy beer (Not Really).

Drop back in from time to time – and we’ll keep an eye on just what in the hell is going on. ~ Ed.

[Got physical… close at hand?]

Let’s do something about that…

Kettle Moraine, Ltd.
P.O. Box 579
Litchfield Park, AZ 85340
Call or TEXT: 1 – 602 – 799 – 8214
gold@morganapreciousmetals.com

Posted in Double Eagle Headlines | Comments Off on Dateline: February 13, 2020

Dateline: February 12, 2020

DEheadlines_orig

The State of the American Debt Slaves
Consumer debt – student loans, auto loans, and revolving credit such as credit cards and personal loans but excluding housing-related debts such as mortgages and HELOCs – jumped by $187 billion in the fourth quarter 2019, compared to a year earlier, or by 4.7%, to a record $4.2 trillion, according to Federal Reserve data.

There is another group of Americans where every month is a mad scramble to make ends meet. Some earn good money but live above their means. Others are scraping by every month on low incomes. Both are up to their ears in debt. They’re one or two paychecks away from defaulting on that debt. That’s where the debt burden is, and that’s where the risks are. But in terms of overall consumer debt, this bifurcation gets averaged out… (Continue to full article)

Gold: A Modern Investment Framework For An Ancient Asset
“I consider $15,000 gold and flat stocks+bonds to be a more realistic scenario than $1,500 gold and the SPX back under 2,000…”… (Continue to full article)

Gold Price Forecast: All-Time Record High Volume – What Does It Mean
With the newsworthy events of the last few weeks including the assassination of Iranian general Soleimani, retaliatory missile attacks against US forces in Iraq, and now the coronavirus, gold has just broken all-time records for volume on the… (Continue to full article)

The average US couple could be facing a new tax of $180,360
Think about it: this is supposed to be the ‘everything is awesome economy’. The stock market is at a record high. Corporate profits are at record highs. Unemployment is at record lows.

If the government can’t make ends meet when the economy is this good, how many trillions will these people burn when the next economic downturn arrives?… (Continue to full article)

Morgan the Pirate

JP-Morgan (the Pirate) Chase Confirmed As Target Of Metals Price Rigging Prosecution
The U.S. Department of Justice investigation of criminal activity in the precious metals markets has taken an interesting new turn.

According to Bloomberg, prosecutors are targeting the bank itself and not just the individual traders involved in rigging prices. If convicted, the bank as an institution could be held accountable for years of structured and pervasive cheating… (Continue to full article)

When a black swan flies over a house of cards: The Coronavirus & global collapse
The fact is this disease is only in its incipient stages, its transmissibility is horrific, and frankly we haven’t seen anything yet.

So let us dig down into some of the implications. Take a look for a moment at the house of cards—that is the world economy— over which this black swan is flying. It sits upon a foundation of an unimaginable $253 trillion in debt, something the IMF repeatedly has warned is excessive and egregious.. (Continue to full article)

Who Can Now Realistically Say America Has Not Become A Mega-Corporate Dictatorship?
When a nation’s billionaires control not only its mega-corporations but its government, that small group — who do business with one-another — constitute a national dictatorship which is just as bad as in feudal times when a tiny aristocracy (who also did business with one-another) controlled the government and were a collective dictatorship over the entire nation’s population… (Continue to full article)

Is 150 Years of Bank Credit Expansion Nearing Its End?
Since the turn of the millennium there have been two global bank credit crises: the first was the deflation of the dot-com bubble in 2001–2, and the second the 2008–9 financial crisis that wiped out Lehman Brothers. It was clear from these events that the debate over moral hazard was resolved in favour of supporting not just the banks, but big business and stock market valuations as well… (Continue to full article)

$23 silver price is coming and would “transform” the industry says CEO
Should silver prices rally to their fair value to above $20 an ounce, a transformation would take place amongst silver miners, this according to Darren Blasutti, CEO of Americas Gold & Silver.

“I could see [silver prices] headed to $22, $23, and that would be transformational for the silver industry,” Blasutti told Kitco News on the sidelines of the Vancouver Resource Investment Conference. Sentiment in the precious metals sector has improved… (Continue to full article)

$2,000 gold price by election night is possible
Political changes from the U.S. presidential election in November could see gold prices soar, this according to Peter Schiff, CEO of Euro Pacific Capital.

“I think if Trump is not re-elected, if we get like, President Sanders, gold should go above $2,000 this year, and if it’s not above $2,000 by election, it should be $2,000 election night once we get the results… (Continue to full article)

High-Paying Trade Jobs Sit Empty, While High School Grads Line Up For University
….and nearly two years later – not a damned thing has changed!

“All through my life it was, ‘if you don’t go to college you’re going to end up on the streets,’  “Everybody’s so gung-ho about going to college.”

So he tried it for a while. Then he quit and started training as an ironworker, which is what he is doing on a weekday morning in a nondescript high-ceilinged building with a concrete floor in an industrial park near the Seattle-Tacoma International Airport… (Continue to full article)

[Got physical… close at hand?]

Let’s do something about that…

Protecting Your Wealth is heard at 3:00 p.m. (Eastern Time), each Tuesday and Thursday on Republic Broadcasting Network. Jeffrey Bennett, host of the program will be sharing over 60 years of his personal experience in the precious metals markets, in addition to educational commentary regarding YOUR financial health and welfare.

Kettle Moraine, Ltd.
P.O. Box 579
Litchfield Park, AZ 85340
Call or TEXT: 1 – 602 – 799 – 8214
gold@morganapreciousmetals.com

Posted in Double Eagle Headlines | Comments Off on Dateline: February 12, 2020

The Key to a Sustainable Economy Is 5,000 Years Old

We are again reaching the point in the business cycle known as “peak debt,” when debts have compounded to the point that their cumulative total cannot be paid. Student debt, credit card debt, auto loans, business debt and sovereign debt are all higher than they have ever been. As economist Michael Hudson writes in his provocative 2018 book, “…and forgive them their debts,” debts that can’t be paid won’t be paid. The question, he says, is how they won’t be paid. Continue reading

Posted in The Mine or the Shaft | Comments Off on The Key to a Sustainable Economy Is 5,000 Years Old

You may not have as much in your 401(k) for retirement as you think

This one number will help you more accurately plan for retirement — thanks to the Secure Act.

A lump sum on a 401(k) statement may give investors a false sense of security about their future retirement income.

A $100,000 or even $200,000 balance in a 401(k) plan might seem like a lofty amount of money — and it is — but it may not mean as much in your retirement as you think.

As part of the new Secure Act, plan sponsors will have to show Americans how their account balances translate into monthly income. The new retirement law, which was passed in December, aims to provide investors with a clearer picture about whether or not they’re on track to retire. Continue reading

Posted in The Mine or the Shaft | Comments Off on You may not have as much in your 401(k) for retirement as you think

What choice do we have???

One thing Trump (did NOT) brag about in his State of the Union

his plans to cut Social Security, Medicare and Medicaid

His tax cut isn’t helping the economy, but it did blow a hole in the budget that he’d fill by gutting entitlement programs

(So, two nights ago), Donald Trump (delivered) his third State of the Union address. (Like) his past speeches … we know (that his) speech (was) filled with a number of exaggerations and outright falsehoods — especially when it comes to the economy.

Since he signed the bill two years ago, Trump has heralded the 2017 Tax Cuts and Jobs Act as this administration’s greatest accomplishment, declaring that it is “helping everybody so much.”

But this couldn’t be further from the truth. Continue reading

Posted in The Mine or the Shaft | Comments Off on What choice do we have???

Dateline: February 4, 2020

DEheadlines_orig

Fake News And The “Healthy Economy” Myth
The “narrative” architects and fairytale spinners are desperately looking for evidence to fit their “consumer is still healthy / economy still fine” propaganda. The hype over strong holiday sales was premature if not fraudulent, as data-manipulators appear to have taken the growth in online holiday sales and projected it across the entire retail sales spectrum. I guess they overlooked the fact that online sales took market share from brick/mortar stores.

Despite the plethora of data showing that U.S. manufacturing was down last year, real retails sales are declining, restaurant traffic – including delivered food – has been contracting almost every month for two years and most households are over-bloated with debt, the Fed continues to insist that the economy is healthy with “sustainable moderate growth.” This is sheer and nonsense and the Fed knows it… (Continue to full article)

Gold Forecast: Coronavirus Could Send Gold Price Soaring Above $1700
The 2019-nCoV coronavirus was declared a global emergency when the number infected surpassed that of the 2003 SARS outbreak. With the death toll doubling every 3-days, the outlook is grim… (Continue to full article)

Gold Price Forecast: All-Time Record High Volume – What Does It Mean
With the newsworthy events of the last few weeks including the assassination of Iranian general Soleimani, retaliatory missile attacks against US forces in Iraq, and now the coronavirus, gold has just broken all-time records for volume on the… (Continue to full article)

Best gold plays as prices eye $1,600 level
Investors should be looking to buy gold in a weaker currency and sell in a stronger one, according to Pepperstone head of research Chris Weston, who is optimistic on gold long-term.

“You always want to buy a commodity in a weakest currency and you want to sell … in the strongest currency. That’s where you get the best bang for your buck… (Continue to full article)

Another Year, Another Massive Pile of Physical Gold Acquired by National Banks
One of the more telling aspects of what’s happened the past two years is the end of the decade marks a decided shift in how national banks see gold. From 2000 to 2009 national banks were net sellers of gold while the years between 2010 and 2019 national banks added more than 5,000 tonnes of physical for an average of 500 tonnes per year for an entire decade. We will see a repeat over the next ten years?… (Continue to full article)

Dismissing the Experts
Regular readers know I often criticize so-called “experts,” usually economists or central bankers whose flawed decisions are punishing the rest of us. I find their expertise is not nearly as reliable as they seem to think.

At the same time, I rely on experts whose judgment I respect. I know they aren’t perfect—usually because they know and disclose their own limitations, and limitations of the data they rely on. I take ideas from many sources, load them in my mental blender and produce what is hopefully a smooth, tasty concoction.. (Continue to full article)

GOLD IS ON FIRE! But Prices Aren’t Prime Time Just Yet…
Amir Adnani, the chairman of Goldmining Inc. sat down with Kitco’s Daniela Cambone at the Vancouver Resources Investment Conference 2020. Adnani had some very interesting takes on gold. He says the price is higher but hasn’t reached its peak just yet… (Continue to full article)

“Remain Calm” Is The Market’s Story! No Need For Gold Or Silver!
The Signal has been given – the time to BUY is NOW!!!… (Continue to full article)

Gold Gets A Rare Compliment From The Financial Times
Investors around the world are hurrying back to bullion.

Holdings in gold-backed exchange traded funds have risen to their highest levels in seven years, following $19.2 billon in inflows last year. Analysts say interest has picked up for a variety of reasons, including fears over slowdowns in big economies, rising geopolitical risks, and an apparent loss of faith in traditional “haven” assets such as Japan’s yen.

But chief among them is a giant mound of negative-yielding debt, now tipping the scales at more than $13 trillion… (Continue to full article)

[Got physical… close at hand?]

Let’s do something about that…

Protecting Your Wealth is heard at 3:00 p.m. (Eastern Time), each Tuesday and Thursday on Republic Broadcasting Network. Jeffrey Bennett, host of the program will be sharing over 60 years of his personal experience in the precious metals markets, in addition to educational commentary regarding YOUR financial health and welfare.

Kettle Moraine, Ltd.
P.O. Box 579
Litchfield Park, AZ 85340
Call or TEXT: 1 – 602 – 799 – 8214
gold@morganapreciousmetals.com

Posted in Double Eagle Headlines | Comments Off on Dateline: February 4, 2020