The Dark Days of October: Time Runneth Out

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Will Social Security Be There for You? Status of the Social Security Trust Fund in Fiscal 2019
The world is getting used to gold and silver at their new price levels after a summer rally and more surprise could soon be in store for the precious metals sector. The Social Security Trust Fund is benefiting from the increase of workers – particularly millennials, the largest generation ever – and from rising wages that trigger higher Social Security deductions. And the date when the trust fund is depleted keeps getting moved out further, currently estimated to occur in 2034.

“Don’t rely on Social Security”: Inflation adjustments are punitively low, and benefits become more inadequate as you age… BESIDES – most of you reading this are already receiving SSI “Benefits” – it’s your CHILDREN that will not see them. (Continue to full article)

Here’s What I’m Worried About with the Everything Bubble
All these investors cared about is the likelihood that the cash-burning company would be able to raise new money from new investors, such as by issuing new bonds or new shares, so that it could pay off and remunerate the existing investors. And existing stockholders counted on this new money to keep the company afloat and share prices sky-high.

Some companies, such as WeWork, are now running into trouble with this scheme. And the unicorns that recently sold shares to the public via IPOs have seen their share prices plunge… (Continue to full article)

The New “Warren Commission” Demands Repo Loan Answers as NY Fed Repo Data Disappears
From this past Friday evening through Sunday, if you clicked on any of the web pages at the New York Fed pertaining to the hundreds of billions of dollars it has been pumping out weekly to Wall Street’s securities firms since September 17, you saw the message below: We emailed the New York Fed’s media contact and asked why all of the other web pages at the New York Fed were working just fine but only its repo operation data and announcements had up and disappeared. We received no response. The web pages have since been restored with some tweaking that seems to have the intent of making this massive money spigot to Wall Street, for the first time since the financial crisis, appear to be just your ole run of the mill open market operation from your ole reliable. ‘Lieawatha’ fails again… (Continue to full article)

…chuggin’ along

Gold Continues to Look Attractive in a Low-Rate Environment
Bad news is good news. Policymakers and heads of states see the threat of a slowdown and are more likely to enact stimulus measures to prevent a full-blown recession. This is especially the case in nations with upcoming federal elections—the biggest one being the U.S. presidential election.

President Donald Trump is under pressure from a series of House investigations, not to mention an impeachment inquiry that’s near guaranteed to result in official articles of impeachment. Be that as it may, Trump is the only U.S. president that I’m aware of who sees the market as a barometer of his policies’ success. Every morning, after he wakes up and coifs his hair in the mirror, he wonders what his administration can do to drive stocks higher… (Continue to full article)

Giddy Up! Mortgage Refis Decline Most In Three Years (Fed To The Rescue?)
Some of the decline is due to smaller pool of eligible borrowers following a “refi wave.” But still, The Federal Reserve may be prodded into action like in the song “Elvira.” Giddy up!

The MBA purchase applications index fell by 3.5% from the previous week, which is understandable since it is October and the October Country from home sales and purchase applications…. (Continue to full article)

Yes, Gold “Just Sits There” and That’s Quite a Feat
The Wall Street Journal’s Jason Zweig famously referred to gold as a “Pet Rock” in 2015. He was blasted by people who understand that gold is no passing fad, and it serves some very important roles in an investment portfolio.

The valuable roles played by gold have been well covered here. It’s a hedge against both inflation and deflation, it represents true diversification for portfolios stuffed with conventional securities, and it is a way of protecting wealth during tumultuous times… A gold coin or bar never degrades, is always valuable and is uniquely insulated from risk. What other asset can deliver such assurances over the next 100 years? “C’mon T.C. let’s git the gold out their teeth!” (Continue to full article)

Hi-Ho Silver, awaaay

Start thinking about silver before it becomes popular again
Most of the silver mined this year will be used up in industrial production. So the companies that make fancy tableware or dentists’ drills will need new supplies of silver next year in order to manufacture more product.

If those companies are growing, they’ll need even more silver… so, as long as the global economy generally keeps growing, industrial silver demand should keep growing.

But silver production is actually falling… so silver prices should increase as a result… (Continue to full article)

“Gold, Mr. Bond.”

Gold: Tool of Liberty and Freedom
Gold has been money for thousands of years. It was recently brought back to central banks balance sheet in the form of making gold a Tier 1 asset, which makes gold, for all intents and purpose, money as it is now treated the same as bonds and currency. This is setting the table for more changes where gold is concerned.

As anyone knows that follows the work we do here, what is happening with gold and silver remain our primary focus. Liberty, which comes from God, stands on a golden foundation. Commerce, which societies and economies form around, is best served by through the use of silver and gold as currency… (Continue to full article)

Promises broken…

What do you think you’ll do then?
I bet that’ll shoot down your plane
It’ll take you a couple of vodka and tonics
To set you on your feet again…

Gold Looks Good And Silver Looks Great
For silver, all roads probably lead to the $22-$25 area. For gold, all roads likely lead to $1600-$1800. There could be significant bumps in these roads, probably involving time more than price. Silver looks stronger than gold, but gold is also looking very solid, from both a fundamental and technical perspective.

Whether silver breaks out from the bull wedge now or a bit later really doesn’t matter. My recommendation to silver price enthusiasts is to get in on the action right now and buy more on any further price softness, which may or may not happen… (Continue to full article)

“To the moon, Alice. Right to the moon!”

Goodbye Middle Class: 50 Percent Of American Workers Make Less Than 33,000 Dollars A Year
The truth is that most American families are deeply struggling, but you hardly ever hear this from the mainstream media. Yes, about 10 percent of all American workers are making $100,000 or more a year, but most of those high paying jobs are concentrated in the major cities along the east and west coasts. For much of the rest of the country, these are very challenging times as the cost of living soars but their paychecks do not… (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

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