Tumblelog by Soup.io
Newer posts are loading.
You are at the newest post.
Click here to check if anything new just came in.

January 19 2018

moneymetals

Chinese Physical Gold Investment Demand Surges While Americans Pile Into Stock & Crypto Bubbles

Chinese demand for physical gold investment surged in the first three-quarters of 2017 while Americans ditched the shiny yellow metal for increased bets in the crypto mania and stock market bubble market. Even though China’s Hang Seng Stock Market outperformed the Dow Jones Index last year, Chinese citizens purchased the most gold bar and coin products Q1-Q3 2017 since the same period in 2013, when they took advantage of huge gold market price selloff.

According to the World Gold Council, Chinese gold bar and coin demand increased to 233 metric tons (mt) in the first three-quarters of 2017 compared to 162 mt in the same period last year. Furthermore, if we include Indian gold bar and coin demand, China and India consumed nearly half of the world’s total:

Global gold bar & coin demand q1 - q3 2017

As we can see, China and India consumed 338 mt of gold bar and coin products which accounted for 47% of the total 715 mt Q1-Q3 2017. German gold bar and coin demand of 81 mt took the third highest spot followed by Thailand (49 mt), Turkey (47 mt), Switzerland (31 mt) and the United States (30 mt). Chinese gold bar and coin demand of 233 mt nearly equaled the total demand by German, Thailand, Turkey, Switzerland and the United States of 238 mt.


​Continue reading (source)​


December 18 2017

moneymetals

Money Metals Exchange Is Also Your Crypto/Metals HQ

Inline image 1

Money Metals Exchange began accepting Bitcoin payments for gold and silver bullion nearly 3 years ago, putting us among the very first in our industry to do so.

Today, we are announcing expanded services – both when buying and selling precious metals – using several crypto-currencies.

We believe honest money is core to liberating people and protecting their savings. History is clear as to how the game of unrestrained government borrowing, printing, and spending will end. The holders of the world’s fiat currencies will wind up holding the bag.

Crypto-Currencies

There can be no doubt that tangible, off-the-grid, gold and silver – which feature zero counterparty risk – will have a key role to play in the future, just as they have in the past. It may well be that crypto-currencies will also have a role to play.

Crypto-currencies provide a method of sending payments anywhere in the world, without permission and with little cost. It is possible to do so securely and privately, without relying upon bankers as middlemen.

If Bitcoin, or one or more of the alternatives, can solve scaling problems, it could be a revolution in which individuals and liberty are the victors.

Our clients have long been able to make payment for metals using Bitcoin at MoneyMetals.com, as noted above. But that is just the start. Very soon we will be able to accept online payments in Bitcoin Cash and other major crypto-currencies.

But we can already do a much larger variety of crypto-currency transactions with clients who call us rather than order online.


Continue reading.. (source

November 27 2017

moneymetals

October 31 2017

moneymetals

BREAKING: China – World’s Largest Gold Producer Mine Supply Plummets 10%

Inline image 1

The world’s top gold producer saw its mine supply plummet by 10% in the first half of 2017. According to the GFMS World Gold Survey newest update, China’s gold production in 1H 2017 fell the most in over a decade. The fall in Chinese gold production is quite significant as the country will have to increase its imports to make up the shortfall in its mine supply.

The data in the GFMS 2017 Q3 Gold Survey Update & Outlook reported that Chinese gold mine supply declined 23 metric tons to 207 metric tons in the 1H 2017 versus the 230 metric tons during the same period last year:

China gold mine production (1h 2016 vs 1h 2017)

The report stated the reason for the decline in Chinese gold production was due to the government’s increased efforts to curb pollution as well as heightened awareness of environmental protection. Furthermore, GFMS analysts forecast that Chinese gold production will continue to deteriorate for the remainder of the year as production is scaled down.

Read full article: (source)

October 27 2017

moneymetals

October 24 2017

moneymetals

October 04 2017

moneymetals

October 03 2017

moneymetals

David Morgan: The Fed’s Tightening Because the Dollar Is in Big Trouble

Well now, without further delay, let’s get right to this week’s exclusive interview.

David morgan

Mike Gleason: It is my privilege now, to welcome back our good friend David Morgan, of The Morgan Report. David, it's always a real pleasure to have you on with us. How are you, sir?

David Morgan: Mike, I'm doing well. Thank you for having me.

Mike Gleason: Well, first off, let's discuss what's been driving the recent pullback in your view. Gold was over $1,350 not too long ago and is now is decisively back under $1,300, as we're talking here on Wednesday afternoon. Silver has pulled back, and is moving toward the lower end of its year-long trading range, and has a 16 handle, once again. So what do you make of the recent market action, and what's behind it David?

David Morgan: Well, it's a lot of, algorithms that trade all these markets. You can't get around that fact. The second thing is, a lot of people are -- in my view -- been on the lazy side, which means they just generally off the technical analysis doesn't work, because it's a manipulated market. Well, actually it works fine, if you ever took the time to read The Silver Manifesto, with my co-author, Chris Marchese, you would definitely find out that technical analysis is a tool. It's not perfect, but it's something to pay attention to.

So, when we have a support or resistance level, it normally takes three tries to get through that level, either from the upside or the downside. Recent times, $1,300 was the level that had to be tested three times, for gold to have that $1,300 breakout. It did it. Third try it went through. It got up to $1,350. I warned my members at that time that normally, a breakout level is tested at least one time, and forecast it would see $1,300 or below. And it was moving higher, higher, higher, and there were a lot of articles about gold is at a 11-month high, gold is at a 12-month high.

And I don't want to say I get it right every time. I'm not trying to imply that. What I'm trying to imply is that technical analysis does have some benefit, and that there are some general principles that work most of the time, this being one of them. The last one that cinched it for me, and this is one that you've got to combine as much knowledge as you can, and throw out the junk and keep the diamonds, then that is what the Commitment of Traders look like. And the Commitment of Traders look very unsatisfactory at the time that gold was getting in this 11-month, 12-month high area.

It looked to me like, based on the COT, that it was also due to come back. So, that's the reason ... I mean as trite as it sounds, it's absolutely the most honest and truthful thing you can say about why a market was up or down, it's because there's more sellers than buyers, that's why the market goes down, or there's more buyers than sellers and that's why the market moves up. I don't care if it's wheat. I don't care if it's rice. I don't care if it's a stock or an ETF, gold or silver. It does not matter.

If there's buying pressure, it goes higher. If there's selling pressure, it moves lower. It's that simple. What everyone wants to know is why, and that is too difficult to announce, because there could be individual reasons. Someone might have an emergency and they sell a bag of silver because that's all the savings they have, or whatever. So I don't want to go down this rabbit hole too far, Mike, but I want to state, is you can generally say, "Oh, yes. The Fed announced they're going to raise rates and they're going taper back on their balance sheet," and all this stuff, and everyone says, "Well, that's the reason."

Well that's a reason, and it may be one of the major reasons, but it's not necessarily all reasons. So I'll leave it at that.

Mike Gleason: Well, I know you don't want to thump your chest too hard, but I'll sing your praises a little bit, here. You've been very good at calling both short term tops and long-term tops, and people that follow you will know that as well.

I'm curious to get your read on sentiment in the broader precious metals community, because while we're definitely still seeing more retail customers buying than selling, we are seeing an increase in people selling metal than we're accustomed to. Around the world, though, particularly in Asia, physical demand is strong and may even be increasing.

Now, you interact with traders and investors in the futures markets, and you talk regularly with mining industry executives and shareholders, which gives you an even broader perspective. You often talk about how these markets tend to either wear you out or scare you out. Is that happening, or are you seeing some optimism, here?

Read/listen to the entire podcast: (source)

September 26 2017

moneymetals

September 12 2017

moneymetals
moneymetals

Trump Suggests Eliminating the Debt Ceiling – Dollar Falls

Those who paid any attention to the financial press last week saw the following narrative; President Donald Trump betrayed Republicans by cutting a deal with Democrats Nancy Pelosi and Charles Schumer. They agreed to punt on the borrowing cap until December and spend $15 billion for hurricane relief.

Americans are supposed to conclude that Trump is flip-flopping, and that Republicans aren’t responsible. Dig just a little, and you’ll find only one of those things is true.

Debt ceiling

Trump is flip-flopping, no question about that. The president campaigned on promises to honor the borrowing limit. This tweet from 2013 if what candidate Trump had to say on the matter: “I cannot believe the Republicans are extending the debt ceiling — I am a Republican & I am embarrassed!”

But any implication that Republican leaders in Congress actually oppose more borrowing is patently false. Republicans in Congress overwhelmingly supported the deal. It was passed in the House with a vote of 316 to 90. The Senate voted 80 to 17.

Some who voted in opposition likely only did so for the sake of appearances. Others thought the president and Democrats did not go far enough. GOP leaders Paul Ryan and Mitch McConnell wanted a deal to suspend the borrowing cap for much longer than the 3 months they got.

Make no mistake – lots of Republicans share the commitment to unlimited borrowing with the President and Democrats.

At least the currency markets seem to have gotten it right. Last week’s decline in the dollar may be a recognition the debt ceiling – the final pretense of borrowing restraint – will soon be going away. The sooner investors at large arrive at this conclusion, the better it will likely be for owners of hard assets.

Article Source: https://www.moneymetals.com/news/2017/09/11/trump-eliminate-debt-ceiling-001154

August 28 2017

moneymetals

August 08 2017

moneymetals

August 07 2017

moneymetals

Sen. Hatch: Those Opposing More Debt ‘Don’t Deserve to Be Here’

Republican leaders in Congress, with the urging of Treasury Secretary Steve Mnuchin, are anxious to raise the federal borrowing limit from $19.8 trillion – no strings attached.

The only hitch is those pesky conservative voters who were promised restraint by party leaders. GOP establishment hopes to quietly pass a “clean” bill to raise the debt ceiling – a direct betrayal of that voter base – don't currently enjoy enough support from other Republican members who still consider themselves accountable. So a deal with the Democrats beckons.

Republicans technically have the power to finally honor the limit on borrowing by reducing spending. After all, Republicans control both Congress and the White House.

Sen. orrin hatch (r-ut)

Sen. Orrin Hatch (R-UT) says any
politician who opposes more debt
“doesn’t deserve to be here.”

The last thing most Republican voters want is for McConnell and Ryan to start cutting deals with Nancy Pelosi and Chuck Schumer for a debt ceiling hike and MORE spending. But that may be exactly how this batch of sausage gets made. Watch for a coalition of big government Republicans and Democrats to leave future generations holding the bag – yet again.

GOP Senator Orrin Hatch is scornful of anyone in his party trying to impose spending restraint. He had this to say: “Some conservatives think they can get some programs cut. Well, that’s not gonna happen… We have to pay our bills and anybody who doesn’t want to do that doesn’t deserve to be here.

Hatch and his friends in leadership – on both sides of the aisle – share a bizarre philosophy when it comes fiscal responsibility. They insist that the best way to meet obligations is to embrace perpetual deficit spending and simply borrow without limit to cover it.

As far as they’re concerned, any elected officials with an opposing view don’t even belong in Washington DC.

Continue reading..

moneymetals

Insider's Take on the Political Situation from former Ron Paul Aide

Well now, without further delay, let's get right to this week's exclusive interview.

Paul-Martin foss

Mike Gleason:It is my privilege now to welcome in Paul-Martin Foss, founder and president of The Carl Menger Center for the Study of Money and Banking, an organization whose mission is to educate the American people on the importance of sound monetary policy. Prior to starting The Carl Menger Center, Paul-Martin worked on Capitol Hill for seven years, including a six year stint with none other than Congressman Ron Paul. As Paul's legislative assistant, he worked closely with Dr. Paul on his Audit the Fed and End the Fed bills.

Paul-Martin has a Master's degree from both the London School of Economics and Georgetown University, and has dedicated much of his professional life to the cause of sound money and the values of Austrian economics. So it's a real pleasure to have him on with us today. Paul-Martin, thanks so much for joining us and welcome.

Paul-Martin Foss: Well, thank you very much for having me on.

Mike Gleason: Well, I guess we'll start at the beginning here, and I'll ask you to explain why you've made it a goal and a mission to spread the ideals of sound money and sound banking. So first off, what does sound money and sound banking mean, and why should the average American citizen even concern themselves with these causes in the first place?

Paul-Martin Foss: Sound money basically is money that the government cannot debase and devalue. It's money that allows civilization and commerce to flourish. It protects savers. It protects consumers. It allows individuals to save and invest and plan for the future. What we're seeing is for the past century since the Federal Reserve was created is basically unsound money. It's money that is constantly being devalued. It favors debtors, especially the biggest debtor of all, the Federal government. It's silently taking money out of the pockets of savers and the average individual and putting that money in the pockets of Wall Street. The average American person doesn't really understand or see... who was it, I think Keynes quotes Lenin as saying that “the surest way to debase a civilization is to debase its currency.” This is basically what's happening in our country today, so I'm trying to make it an important issue and make people realize just how important sound money and sound banking is in the United States.

Mike Gleason: Furthering the point here, you wrote a great article about how the government essentially funds itself through three methods, taxation, borrowing, and inflation, and you explained how sound money is essential to keeping spending in check. Talk more about that, and then also explain more about the role that gold and silver can serve to rein in government spending.

Paul-Martin Foss: Yeah, it's like you said, you have taxation, you have borrowing, and you have inflation. Those are the three methods that the government can use to fund itself. Taxation is kind of self-limiting because once you get the tax rates high enough, people are going to stop paying taxes and the government's not going to take in as much money. Borrowing, eventually people… if you are spendthrift and not paying back your debts, they're going to stop lending you money or they're going to lend you money at higher interest rates, so there's kind of a self-limiting factor there too.

So inflation ends up being their preferred method of funding themselves, again because it's very subtle. The Fed says 2% inflation rate every year, that's their definition of stable prices. Well, that's devaluing government debt by 2% every year. Over the course of a decade, you devalue your debt by 25%, and you can pay back your debts in devalued dollars, so it's a win-win for the government all around, basically spending a lot more money than it actually has.

Gold and silver have always been great checks against the government because there's just a limited supply of it, and the government doesn't have a monopoly on the possession of gold and silver, the use of gold and silver. It can't print gold and silver. It's an item. If it wants to issue bank notes and spend money that way, it's limited by the amount of gold and silver that is physically in its possession. So it's always been a great check on government spending, and that's why governments around the world for the past 100 years have done everything they can to demonetize gold and silver, keep people from being able to use because they don't want gold and silver to be money because it limits their power.

August 01 2017

moneymetals

Chile’s Silver Production Down A Stunning 32%

In an interesting change of events, the world’s fifth largest silver producer saw its production plunge 32% in May versus the same month last year. Chile, a country which produced a record high of 54 million oz of silver in 2014, is forecasted to see its mine supply decline to less than 40 million oz in 2017.

According to the most recently released data by COCHILCO – Chile’s Ministry of Mines, the country’s silver production in May fell to 97.1 metric tons (3.1 million oz) versus 141.9 metric tons (4.6 million oz) in the same month last year:

Part of the reason for the decline was a union strike and shutdown at the huge by-product silver Escondida Copper Mine. However, by-product silver production at Escondida was only down 38 metric tons (1.2 million oz) during the first six months of the year (BHP Billiton). This is only a small percentage of the overall 170 metric tons (5.5 million oz) decline in Chile’s copper production in the first five months of 2017 versus the same period last year:

According to COCHILCO’s preliminary production figures, Chile produced 655 metric tons of silver Jan-May 2016 versus 485 metric tons Jan-May 2017. Again, this a difference of 170 metric tons.... or a 26% decline year to date

​Continue reading...​

July 24 2017

moneymetals

June 23 2017

moneymetals

RUSSIA vs. USA: Where’s The Gold Going??

As the United States continues to push towards a military conflict with Russia, there will likely be no real winner when the dust settles. However, if we compare the these two superpowers in the current “gold market”, the Russians are the clear winners.

While the U.S. has been (secretly) liquidating its once massive official gold holdings, the Russians have be doing quite the opposite. According to the data on Smaulgld.com, the Russians have added a hefty 3,000,000 oz of gold to its official reserves since the beginning of the year. If you haven’t checked out Smaulgld’s site, I highly recommend it.

In Smaulgld’s article, Central Bank Of Russia Continues To Boost Overall Reserves, here were the monthly additions to Russia’s official gold holdings:

JAN 2017 = +1,000,000 oz

FEB 2017 = +300,000 oz

MAR 2017 = +800,000 oz

APR 2017 = +200,000 oz

MAY 2017 = +700,000 oz

Three million ounces of gold added to Russia’s official reserves is quite a lot of metal... actually 93.3 metric tons. Now, if we compare Russia & the U.S. in gold mine supply versus additions to official gold holdings, this would be the result:

Russia vs usa: jan-may 2017 gold mine supply & gold researve additions

You can find the entire article here.

moneymetals

Fed’s New Normal Could Plunge Economy into Recession

The big news from the Federal Reserve wasn’t the quarter point rate hike (which was expected). The big news was Fed chair Janet Yellen’s announcement of “balance sheet normalization.”

Janet yellen

Fed Chair Janet Yellen claims the central bank
will soon unwind its balance sheet.

In plain English, the Fed claims it will begin selling off assets from its balance sheet, which remains bloated from previous Quantitative Easing programs. If “normalization” does actually proceed at full speed, it would entail $50 billion in financial assets per month being dumped into the market.

Not even Fed officials know how markets will react to the fire sale. But it will likely have the effect of a set of stealth rate hikes. That’s assuming Yellen follows through on her “normalization” threat.

Despite Yellen’s hawkish tone, Fed fund futures markets are pricing in only a 45% chance of another rate hike before the end of the year. The central bank may not get very far in unwinding its balance sheet either, especially given extant economic fragilities.

Retail sales have slumped for four straight months even as consumers ramp up their debt loads to dangerous levels. “Household borrowings have surged to a record $12.73 trillion, and the percentage of debt that is overdue has risen for two consecutive quarters,” reports Bloomberg.

Continue reading the entire article...

moneymetals

Could Silver Be Winding Up for a Big Move?

This spring, gold vastly outperformed silver, leaving the white metal looking for direction. The silver chart shows prices winding up within a huge wedge pattern.
Older posts are this way If this message doesn't go away, click anywhere on the page to continue loading posts.
Could not load more posts
Maybe Soup is currently being updated? I'll try again automatically in a few seconds...
Just a second, loading more posts...
You've reached the end.

Don't be the product, buy the product!

Schweinderl