Dateline: May 16, 2019

Join me for a cup of mornin’ Joe!

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Chink in the Armor

Investors May Be Laughing At China’s “People’s War” Now, But Here Is Why They Won’t Be Laughing For Long…
Wall Street is still treating this crisis as a temporary trade dispute, but the Chinese see things completely differently. At this point, the narrative in China is that the U.S. has deeply insulted their national honor, and every angry statement from U.S. officials is just digging the knife in a little bit deeper. The Chinese began their retaliation to Trump’s new tariffs with some new tariffs of their own, but they won’t be stopping there… (Continue to full article)

Central Banks’ Crusade Against Risk
Since the latest the crisis in 2008/2009, central banks around the world have been doing their best to expel risks from financial markets. By lowering interest rates, fixing them at extremely low levels, or issuing more credit and money, monetary policymakers make sure that ailing borrowers are kept afloat. In fact, central banks have put a “safety net” under the economies and the financial markets in particular. As it seems, this measure has… (Continue to full article)

Seven Banks Rigging The Multi-Trillion Dollar Foreign Exchange Market
(Reuters) – Barclays, Citigroup, HSBC, JPMorgan and three other banks are set to be fined by EU antitrust regulators in coming weeks for rigging the multi-trillion dollar foreign exchange market, two people familiar with the matter said. The other… (Continue to full article)

The only gold the US shows – A working vault at West Point
Every so often, US media coverage provides glimpses into the US Treasury’s gold reserves stored with the US Mint. While this coverage never documents any of the claimed “deep storage” gold of the US Treasury, it contains just enough suggestion for the populace to connect the words ‘gold storage’ and ‘US Government’, and then return to their daily routines, assuming that the US has the largest strategic gold reserves in the world. Notably, these… (Continue to full article)

Moves in Gold & Silver Will be 1970’s on STILTS
My long standing target for gold of $10,000 in today’s money and much, much higher in inflationary terms, is now more probable than ever. But I hope it will never be achieved. When gold goes to $10,000, it won’t be under the same circumstances that we saw in the 1970s. Gold then went from $35 in 1971 to $850 in January 1980 – a 24x explosion in very different conditions. In the 1970s we had high inflation, weakening currencies and recessions… (Continue to full article)

My morning cup o’ coffee… and I always dreamed of having one with her… Que Sera, Sera!

The Darkness Rising
The retail sales number came in rather badly this morning. There is no real recovery. Just a papering over of the rot endemic to oligarchy. Gold and silver are struggling at overhead resistance. Gold is much more interesting to watch here because of its nature as a safe haven. And of course its central role in the changes in the monetary regime which have been called currency wars. Stocks have reached the 38.2% fibonacci retracement level. They may keep on reaching for 50%.

It is reported that JP Morgan is holding #2.3 trillion in stock derivatives, or roughly 2/3rds of the entire market.

Let’s see how this charade plays out… (Continue to full article)

JPMorgan’s Monster 66% Position In Stock Derivatives
Not only is JPMorgan Chase Bank NA engaging in risky stock derivative trades, but according to the OCC just 31 percent of these trades are centrally cleared. The other 69 percent are what are called over-the-counter or OTC derivative trades, meaning they are “bilateral,” or secret contracts between JPMorgan Chase and a counterparty with little daylight available to Federal regulators. That also would suggest that they are highly illiquid… so – here we go again! (Continue to full article)

Retail Sales and Industrial Production Slump in April
The Federal Reserve announced Wednesday in a downbeat report that the United States’ industrial production slumped in April. The Fed’s report also included sharp downward revisions for other important segments of the U.S. economy… (Continue to full article)

“Gold, Mr. Bond.”

The World’s Central Banks are Buying Gold at the Fastest Pace In 6 Years!
This is flashing warning signs for the future of the United States dollar.

Central banks (the Federal Reserve) and foreign governments hold literally trillions of dollars of reserves which they traditionally they acquire by buying U.S. government debt. To big institutions and banks, U.S. government debt is considered as an equivalent to cash and they use it as a form of money. U.S. debt is, therefore, extremely liquid. In fact, the $22 trillion US debt market is the biggest and most liquid market in the world… (Continue to full article)

Trump Just Called For Hyperinflation Of The Dollar, Yet He’ll Name A Gold Standard Gal For The Fed?
WTF? Hyperinflation of the dollar? Pumping Money? Rumors abound he’ll nominate a sound money advocate for the Fed. Are we phuocked yet? Let’s sort this all out… (Continue to full article)

Social Security will cross another dangerous milestone next year
It’s still the fundamental premise behind many retirement plans, including Social Security in the Land of the Free. It’s still the younger generations taking care of the older generations. That’s the way the system functions: younger people pay taxes to fund benefits for older people who have retired…. (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.

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