The Guns of August: Day One

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The Most Splendid Housing Bubbles in America, July Update: Year-Over-Year Declines Spread to Seattle
Seattle House prices fall year-over-year, as do New York & San Francisco Bay Area condo prices. Los Angeles, San Diego tick up. Denver, Boston hit highs. Las Vegas, Miami, Phoenix aspire to the crazy peaks of Housing Bubble 1… (Continue to full article)

Gold the Ultimate Asset as Fed Joins Interest Rate Race to the Bottom
With yesterday’s rate cut, the US rejoins the global central bank game of currency debasement and QE to infinity… (Continue to full article)

Schiff: “Either [Powell] Is Lying, Or He’s A Complete Idiot”
“It doesn’t have a lot of ammunition to cut rates, and so I think we’ll get to zero relatively quickly. And we’ll stay there until the Fed completely loses control of this thing.”… (Continue to full article)

Bernie, It’s Time to Audit the New York Fed
On July 21, 2011 the investigative arm of Congress, the Government Accountability Office (GAO), released the first-ever government audit of the Federal Reserve in its 98-year history. The audit came about as a result of the determined efforts of Senator Bernie Sanders to force transparency on the secretive Wall Street bailout actions of the Federal Reserve during the 2008 financial crash and the years that followed. It’s time to do it again… (Continue to full article)

Gold and Silver Are “Safe Haven Money” and Have Never Failed Throughout History
“I feel called to this … I feel it is my duty to educate as many people as possible” Watch interview here – The Fed is engaged in “extend and pretend” but we are in the “end game”– U.S. bonds are no longer safe due to negative yields and th… (Continue to full article)

Leading Indicator of Home-Remodeling Activity Warns Big Drop Coming
Growth in residential remodeling spending is expected to fall through 2H20, according to the Leading Indicator of Remodeling Activity (LIRA) published by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University… (Continue to full article)

Gold, Silver Prices Smacked By Not-So-Easy Fed
Gold and silver markets have been hit hard by Wednesday afternoon’s Federal Reserve Open Market Committee (FOMC) statement and the ensuing press conference from Fed Chairman Jerome Powell. While the Fed cut U.S. interest rates, Powell was not as dovish as many metals bulls had hoped. December gold futures were last down $22.00 an ounce at 1,416.00. September Comex silver prices were last down $0.415 at $15.99 an ounce… (Continue to full article)

Gold Prices Climb As U.S. ISM Manufacturing Index Misses Expectations
Gold prices saw an uptick following a miss in the headline manufacturing index from the Institute for Supply Management, which came in 51.2% in July.

Market consensus called for the index to come in at 52% in July following a reading of 51.7% in June. Readings above 50% in such diffusion indexes are seen as a sign of economic growth, and vice-versa… (Continue to full article)

Sensuous… but day to day is making no difference…

The Economy Is Starting To Implode
Regardless of the Fed Funds rate policy decision by the FOMC today, the economy is spinning down the drain. Lower rates won’t help stimulate much economic activity. Maybe it will arouse a little more financial engineering activity on Wall Street and it might give a temporary boost to mortgage refinancings. But the economic “recovery” of the last 8 years has been an illusion based on massive money printing and credit creation. And credit creation is de facto money printing until the point at which the debt needs to be repaid. Unfortunately, the system is at the point at debt saturation. That’s why the economy is contracting despite the Fed’s best efforts to create what it incorrectly references as “inflation.” (Continue to full article)

Simply Unaffordable! US Housing Affordability Crisis Seeps Into Heartland
Low mortgage rates and thriving employment should be the recipe for a strong housing market. Instead, they’re deepening America’s affordability crisis.

What began on the coasts, in areas like New York and San Francisco, is now radiating into the nation’s heartland, as well as to cities from Las Vegas to Charleston, South Carolina. Entry-level buyers are scrambling to purchase homes that are in short supply, sending values soaring… (Continue to full article)

“Blessed With Stupidity.” Why Gold is Poised for a Dynamic Five Years
Here we’ve put up with Central Banks saying we’re going to print money, we’re going to go to zero interest rates, and it will be the antidote to everything and we’ll have wonderful economies. And here we are—we don’t have a wonderful economy. I’m thinking of Europe in particular. We don’t have a wonderful economy! We have negative interest rates, and what does Mr. Draghi say? ‘Well, we’re going to cut rates and we’re going to print more money.’ Well, you know, it didn’t work the last time! Why do you think that it’s going to work this time? Isn’t that the definition of stupidity?… (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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