Thursday, September 13, 2018 7:00:32 PM
Closing Report Good Evening
The Metals:
Gold edged down to $1203.60 in Asia before it jumped up to $1212.60 by about 9:30AM EST, but it then fell back off into midday and ended near its midafternoon low of $1200.20 with a loss of 0.32%. Silver chopped between $14.171 and $14.348 and ended with a loss of 0.28%.
Euro gold dropped to €1028, platinum gained $2 to $801, and copper remained at about $2.66.
Gold and silver equities waffled near unchanged and ended mixed.
The Economy:
U.S. consumer prices rise modestly; jobless claims near 49-year low Reuters
U.S. Core Inflation Unexpectedly Cools as Apparel Costs Fall Bloomberg
Fed says it whipped U.S. unemployment, maybe too well Reuters
Jobless claims fall slightly to 203,000 and stick to 49-year low MarketWatch
Tomorrow brings Retail sales, Import prices, Industrial production, Capacity utilization, Consumer sentiment, and Business inventories.
The Markets:
Oil fell 2.5% “as an industry report showed global supplies at a record and Hurricane Florence weakened ahead of its expected landfall on the East Coast.”
The U.S. dollar index dropped on tame inflation data that held treasuries near unchanged.
The Dow, Nasdaq, and S&P rose on easing trade tensions.
Among the big names making news in the market today were Target, Walmart, Kroger, GM, Salesforce, Nvidia, and Apple.
GATA Posts:
Metals price suppression aims at all commodities, GATA's Ed Steer says
Head of Russian bank warns customers they may not get dollars back
USAGold's News & Views September newsletter is up
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The Miners:
Newmont’s ranking as the Metals and Mining sector leader by the Dow Jones Sustainability World Index, Barrick’s ABX decentralization push, and Minco Silver’s (MSV.TO) preliminary agreement to acquire 70% of the equity interests in Changling Longxin Mining Co., Ltd were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. DRDGOLD
DRD +6.34% $2.18
2. Americas Silver
USAS +4.19% $2.24
3. Paramount
PZG +2.42% $1.06
LOSERS
1. EMX Royalty
EMX -9.68% $1.12
2. NovaGold
NG -3.20% $3.63
3. Hecla
HL -3.06% $2.85
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
The Music:
The Rippingtons - Rivers Of Gold
MMGYS
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Nickel price to benefit from short supply, strong steel demand through 2019
12th September 2018
By: Reuters
JAKARTA – Slower production increases in leading supplier Indonesia and continued growth in stainless steel demand are forecast to extend a supply shortage in the global nickel market, supporting price gains through 2019.
Nickel, which recently hit its lowest since December, could climb as high as $16 000 a tonne by the end of 2018 and $18 000 a year later, Macquarie Capital senior commodities consultant Jim Lennon said on the sidelines of the MetalBulletin 6th Asian Nickel Conference in Jakarta on Wednesday.
Nickel has been supported by stainless steel demand growth that exceeded 9% in the first half of 2018, Lennon said.
But concerns have emerged in recent months that global growth has peaked against the backdrop of an evolving trade war between the United States and China, dampening the outlook for the 2.2-million-tonne per year global nickel market, he said.
As a result, nickel prices had "overshot to the downside", he said, noting that he expects China to relax its credit policies and introduce measures to stimulate growth that would underpin steel demand, while nickel output growth will remain slow for the rest of 2018.
Supply disruptions at Eramet's mines in New Caledonia and China's planned pollution controls in 40 cities, coupled with slow output growth in Indonesia, could also support a recovery in nickel prices this year, Lennon said.
"Inventories are coming down so prices should be moving higher."
According to Norilsk Nickel principal nickel analyst Alexander Khodov, the global nickel market deficit could extend for three years from a shortfall of 120 000 t in 2018.
"Next year the deficit will probably slightly decrease as a result of a ramp-up in NPI (nickel pig iron) production here in Indonesia (and) a slight increase in NPI production in China, but the deficit will still be around 80 000," Khodov told Reuters.
Wood Mackenzie metals analyst Linda Zhang also forecast growth in nickel prices to $14 400 this year and $16 670 in 2019, with the market facing a deficit of 73 000 t this year and 63 000 tin 2019.
Nickel recovered from an 8-1/2 month low on Wednesday, but gains were capped by fresh sparring between Washington and Beijing over trade and by sinking steel prices in China.
Three-month nickel on the London Metal Exchange was bid up 1.2% in official midday rings to $12 375 a tonne, having hit its lowest since late December at $12 085.
Mining Weekly
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China expected to continue as major driver in global silver market
– Silver Institute
12th September 2018
By: Marleny Arnoldi
Creamer Media Online Writer
China will continue to be a major driver in the global silver market for years to come, fueled by continued industrial demand and silver mining activity, says international industry association, the Silver Institute.
“China is by far the largest consumer of silver globally, accounting for 18% of global fabrication demand in recent years.
“In addition, to meet its robust demand needs, the country is a major destination for imported silver products fabricated in the US, Japan and other countries,” the institute states.
Moreover, China is also the third-largest silver producing country worldwide and is a key player in terms of processing primary raw materials from around the world.
Important industrial uses, as well as investment, bullion trade, jewelry and silverware demand have been examined in a new report ‘Prospects for the Chinese Silver Market’, published by the institute.
This publication was released at the seventeenth China International Silver Conference in Shenzhen, China, at which the Silver Institute served as a host, on Wednesday.
The report was researched and produced by Metals Focus, a leading precious metals consultancy based in London.
The report included highlights around photovoltaic demand, reporting that China’s consumption of silver for solar applications has been rising in recent years to an estimated 65-million ounces in 2017.
More than 70% of global solar panel production takes place in China and local powder fabricators are only able to satisfy a portion of the essential powder and paste for manufacturing and, therefore, rely on imported silver to fulfil their requirements.
“Although policy changes will most likely see volumes decline modestly this year, the long-term uptrend is expected to resume in 2019, assisted by still sizable local installations and strong sales abroad,” the report found.
Further, the report’s research looked at electronic and electrical demand, noting that growth across a range of end-use applications has and will continue to fortify demand.
“Significant areas of growth include touch panels, light emitting diodes and equipment used in electricity generation. Chinese consumption of silver for electronic and electrical uses was estimated at 78-million ounces in 2017 and is forecast to grow modestly this year.”
Regarding brazing alloys and solder, the report said brazing applications that rely on silver should experience further gains in the years ahead, as China continues to focus on infrastructure development.
Brazing alloys and solders accounted for 24-million ounces in 2017. A range of end-use applications, including railway infrastructure development, increasing car sales, refrigeration and air conditioning, should fuel this growth, the Silver Institute remarked.
Meanwhile, jewelry and silverware have suffered declines in China in recent years, with combined fabrication reaching 29-million ounces in 2017.
The main drivers of this have been changing consumer appetites and the impact of anti-corruption legislation on the gifting market. The authors of the report believe, however, that the end of this downtrend is near.
“In fact, silverware has already turned a corner, while silver jewelry in China is expected to return to positive growth from 2020 onwards.”
Mining Weekly
www.miningweekly.com/article/china-expected-to-continue-as-major-driver-in-global-silver-market-silver-institute-2018-09-12
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Predicting the End of the World—Part Two
by Gary Christianson | Sep 12, 2018 | Articles | 0 comments
Miles Franklin sponsored this article by Gary Christenson. The opinions are his. Part one is available here.
Part one discussed the “what” and “why” of unpayable debt, an inevitable “reset” or the end of the current financial world. Part two addresses when.
REVIEW FROM PART ONE:
A risk/reward analysis for 2018—202? points toward gold and silver, not stocks, bonds, corporate debt, student loans or most asset classes.
The “everything bubble” will burst. Consequences will be dire for many individuals, businesses and governments.
Debt and spending are “out of control.” Central banks will “paper over” massive defaults, and fiat currencies will devalue.
Hyperinflation, defaults and resets occurred in many countries and could (will) happen in developed countries such as the U.S.
Rig for stormy weather! Gold and silver bullion and coins are “insurance” against the inevitable currency devaluations that must occur in our debt based fiat currency systems.
Part Two—When?
The global economy carries debt of about $250 trillion, an impossible sum to repay, which suggests default, devastating inflation, and probably both.
A reset may occur as a series of rolling debt defaults, stock and bond market crashes, and/or hyperinflation—South American style. Unbacked fiat currencies and over-valued stock markets are likely to crash. The reset could also happen as a slow moving default and credit crunch that progresses from the periphery—Turkey, Iran, Venezuela, Argentina—to Europe, Japan and the United States. Or, it may be a global reset that occurs within a few days.
WHAT OTHERS SAY:
From Jim Sinclair and Bill Holter. (Heed their experience, wisdom, and intelligence.)
“Contagion is on its way in the currency market. When is now.”
From Bill Bonner:
“Fed policy always consists of the same three mistakes.
Keeping interest rates too low for too long, resulting in too much debt.
Raising interest rates to try to gently deflate the debt bubble.
Cutting rates in a panic when stocks fall and the economy goes into recession.”
and
“… printing money—lots of it—to cover soaring deficits… save the bankers… reward the cronies…” [When mistakes one, two and three have failed.]
From Charles Hugh Smith: “The Global Financial System Is Unraveling.”
“… a great many currencies around the world are in complete meltdown. This is not normal. Nations that over-borrow, over-spend and print too much of their currency to generate an illusion of solvency eventually experience a currency crisis…” [Venezuela, Argentina, Japan, Europe, U.S. etc.]
“The fact that so many currencies are melting down at the same time is telling us the global financial system is unraveling, and unraveling fast.” [When is now!]
“The belief that U.S. markets are somehow disconnected from global markets and immune to the repricing of risk, debt, assets and currencies is magical thinking.” [It can happen here.]
From Pam Martens and Russ Martens:
“JPMorgan suggests the next financial crash may be so cataclysmic that the Federal Reserve may have to enter the market to buy up stocks…” [Save the 1%.]
From Bill Holter:
“Can the country survive without borrowing” Can the financial system survive without the life support policies fostered by the central bank?”
From Alasdair Macleod:
“Change will only come for the ultimate collapse of a system that promotes interests over freedom.” [The collapse of the deep state, if it happens, will be traumatic.]
“China could easily have accumulated a strategic reserve of 20,000 tonnes [of gold] before the public was authorized to acquire gold… We do know that in addition to the state’s accumulation, some 17,000 tonnes have been withdrawn from SGE vaults by the general public.”
[Supposedly Fort Knox contains 4,500 metric tons of gold, unaudited since the 1950s. That gold is probably as real as congressional integrity…]
“The next credit crisis, itself an event of which we can be sure, will almost certainly be met with lower interest rates and more quantitative easing.” [and dollar devaluation]
“… the yuan and the ruble, will not survive in their current form. They will have to be backed by gold… America could save the dollar by following suit… but to do so requires her to abandon almost everything the government and the Fed currently believe…” [The Fed will do the “right thing,” only after all alternatives have failed…]
From Gains, Pains and Capital:
“The Fed has burst the Everything Bubble… [by raising interest rates]
“… capital is moving into the US propping up our markets, while the rest of world collapses.” [Disaster moves from the periphery toward the center.]
From The Motley Fool: “6 Signs the next Recession might be closer than we realize”
“The unemployment rate will push lower. [via the power of statistical manipulation]
The yield curve is flattening. [sign of recession]
Inflation has begun picking up. [Fed statistics show rising inflation.]
Home sales are beginning to decline in key markets. [remember 2008]
Credit card debt and late payments are on the rise. [I wonder why.]
The economic cycle suggests a correction.” [Bull markets driven by trillions of funny money don’t last forever.]
From Bill Bonner:
“… a credit deflation… with falling stock prices and a recession—is inevitable. Every credit-fueled boom eventually runs out of gas… and then turns into a bust.”
“… $69 trillion worth of debt hanging over the U.S. economy… wouldn’t exist with honest money or honest interest rates. And it will go away—along with the asset prices, businesses, and lifestyles it supports—when the credit bubble pops.”
Repeat: From Jim Sinclair and Bill Holter.
“When is now.”
[thanks to central bank policies, mis-priced risk, artificial interest rates, overwhelming debt, and QE]
A reset is inevitable, probably soon. Many signs show we are at the end of the credit cycle. A reset has begun in other countries.
Jim Sinclair thinks the world will be very different by June 2019. It’s almost certain that most or all of the following will occur in several years.
Economic recessions, stock and bond market corrections and crashes.
Central bank printing, more QE, bank bailouts, pension fund bailouts.
Currencies, including the U.S. dollar, will be worth less.
Commodity prices will fly higher as central banks devalue currencies.
Global debt of $250 trillion will increase, perhaps correct, and then surge much higher as QE, bailouts, emergency measures, defaults and other “corrective measures” are used. [Save the big banks, but everyone else is expendable.]
Politicians will promise to “do something” besides collecting payoffs.
Universal Basic Income (UBI) and other nonsense will be considered.
A reset will crash into the U.S. from other countries and shock most people.
Winter is coming!
From Ted Butler:
“We are locked and loaded for an upside move of great significance in gold and silver.”
Miles Franklin will recycle dollars from over-valued stock markets into real money—gold and silver. The conversion is important because some stocks sell at all-time highs while gold and silver prices are low.
Gary Christenson
https://www.milesfranklin.com/predicting-the-end-of-the-world-part-two/
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Gold Price Slips After Negative Trump Tweet On China-U.S. Trade
New York (Sept 13) Gold prices have dropped from their daily highs and are trading slightly lower in late-morning dealings Thursday, following a tweet from President Trump that appears to downplay any progress made on the U.S.-China trade dispute front. Gold saw some buying strength on Wednesday on reports the U.S. made an overture to China to restart the stalled trade talks between the world's two largest economies. It can be extrapolated that a U.S.-China trade agreement would be a benefit for precious metals markets due to more demand coming from China because of its better economic strength from a trade agreement. December gold was last down $1.70 at $1,209.20.
KitcoNews
.jpg)
The Metals:
Gold edged down to $1203.60 in Asia before it jumped up to $1212.60 by about 9:30AM EST, but it then fell back off into midday and ended near its midafternoon low of $1200.20 with a loss of 0.32%. Silver chopped between $14.171 and $14.348 and ended with a loss of 0.28%.
Euro gold dropped to €1028, platinum gained $2 to $801, and copper remained at about $2.66.
Gold and silver equities waffled near unchanged and ended mixed.
The Economy:
U.S. consumer prices rise modestly; jobless claims near 49-year low Reuters
U.S. Core Inflation Unexpectedly Cools as Apparel Costs Fall Bloomberg
Fed says it whipped U.S. unemployment, maybe too well Reuters
Jobless claims fall slightly to 203,000 and stick to 49-year low MarketWatch
Tomorrow brings Retail sales, Import prices, Industrial production, Capacity utilization, Consumer sentiment, and Business inventories.
The Markets:
Oil fell 2.5% “as an industry report showed global supplies at a record and Hurricane Florence weakened ahead of its expected landfall on the East Coast.”
The U.S. dollar index dropped on tame inflation data that held treasuries near unchanged.
The Dow, Nasdaq, and S&P rose on easing trade tensions.
Among the big names making news in the market today were Target, Walmart, Kroger, GM, Salesforce, Nvidia, and Apple.
GATA Posts:
Metals price suppression aims at all commodities, GATA's Ed Steer says
Head of Russian bank warns customers they may not get dollars back
USAGold's News & Views September newsletter is up
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
The Miners:
Newmont’s ranking as the Metals and Mining sector leader by the Dow Jones Sustainability World Index, Barrick’s ABX decentralization push, and Minco Silver’s (MSV.TO) preliminary agreement to acquire 70% of the equity interests in Changling Longxin Mining Co., Ltd were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. DRDGOLD
DRD +6.34% $2.18
2. Americas Silver
USAS +4.19% $2.24
3. Paramount
PZG +2.42% $1.06
LOSERS
1. EMX Royalty
EMX -9.68% $1.12
2. NovaGold
NG -3.20% $3.63
3. Hecla
HL -3.06% $2.85
Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.
The Music:
The Rippingtons - Rivers Of Gold
MMGYS
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Nickel price to benefit from short supply, strong steel demand through 2019
12th September 2018
By: Reuters
JAKARTA – Slower production increases in leading supplier Indonesia and continued growth in stainless steel demand are forecast to extend a supply shortage in the global nickel market, supporting price gains through 2019.
Nickel, which recently hit its lowest since December, could climb as high as $16 000 a tonne by the end of 2018 and $18 000 a year later, Macquarie Capital senior commodities consultant Jim Lennon said on the sidelines of the MetalBulletin 6th Asian Nickel Conference in Jakarta on Wednesday.
Nickel has been supported by stainless steel demand growth that exceeded 9% in the first half of 2018, Lennon said.
But concerns have emerged in recent months that global growth has peaked against the backdrop of an evolving trade war between the United States and China, dampening the outlook for the 2.2-million-tonne per year global nickel market, he said.
As a result, nickel prices had "overshot to the downside", he said, noting that he expects China to relax its credit policies and introduce measures to stimulate growth that would underpin steel demand, while nickel output growth will remain slow for the rest of 2018.
Supply disruptions at Eramet's mines in New Caledonia and China's planned pollution controls in 40 cities, coupled with slow output growth in Indonesia, could also support a recovery in nickel prices this year, Lennon said.
"Inventories are coming down so prices should be moving higher."
According to Norilsk Nickel principal nickel analyst Alexander Khodov, the global nickel market deficit could extend for three years from a shortfall of 120 000 t in 2018.
"Next year the deficit will probably slightly decrease as a result of a ramp-up in NPI (nickel pig iron) production here in Indonesia (and) a slight increase in NPI production in China, but the deficit will still be around 80 000," Khodov told Reuters.
Wood Mackenzie metals analyst Linda Zhang also forecast growth in nickel prices to $14 400 this year and $16 670 in 2019, with the market facing a deficit of 73 000 t this year and 63 000 tin 2019.
Nickel recovered from an 8-1/2 month low on Wednesday, but gains were capped by fresh sparring between Washington and Beijing over trade and by sinking steel prices in China.
Three-month nickel on the London Metal Exchange was bid up 1.2% in official midday rings to $12 375 a tonne, having hit its lowest since late December at $12 085.
Mining Weekly
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China expected to continue as major driver in global silver market
– Silver Institute
12th September 2018
By: Marleny Arnoldi
Creamer Media Online Writer
China will continue to be a major driver in the global silver market for years to come, fueled by continued industrial demand and silver mining activity, says international industry association, the Silver Institute.
“China is by far the largest consumer of silver globally, accounting for 18% of global fabrication demand in recent years.
“In addition, to meet its robust demand needs, the country is a major destination for imported silver products fabricated in the US, Japan and other countries,” the institute states.
Moreover, China is also the third-largest silver producing country worldwide and is a key player in terms of processing primary raw materials from around the world.
Important industrial uses, as well as investment, bullion trade, jewelry and silverware demand have been examined in a new report ‘Prospects for the Chinese Silver Market’, published by the institute.
This publication was released at the seventeenth China International Silver Conference in Shenzhen, China, at which the Silver Institute served as a host, on Wednesday.
The report was researched and produced by Metals Focus, a leading precious metals consultancy based in London.
The report included highlights around photovoltaic demand, reporting that China’s consumption of silver for solar applications has been rising in recent years to an estimated 65-million ounces in 2017.
More than 70% of global solar panel production takes place in China and local powder fabricators are only able to satisfy a portion of the essential powder and paste for manufacturing and, therefore, rely on imported silver to fulfil their requirements.
“Although policy changes will most likely see volumes decline modestly this year, the long-term uptrend is expected to resume in 2019, assisted by still sizable local installations and strong sales abroad,” the report found.
Further, the report’s research looked at electronic and electrical demand, noting that growth across a range of end-use applications has and will continue to fortify demand.
“Significant areas of growth include touch panels, light emitting diodes and equipment used in electricity generation. Chinese consumption of silver for electronic and electrical uses was estimated at 78-million ounces in 2017 and is forecast to grow modestly this year.”
Regarding brazing alloys and solder, the report said brazing applications that rely on silver should experience further gains in the years ahead, as China continues to focus on infrastructure development.
Brazing alloys and solders accounted for 24-million ounces in 2017. A range of end-use applications, including railway infrastructure development, increasing car sales, refrigeration and air conditioning, should fuel this growth, the Silver Institute remarked.
Meanwhile, jewelry and silverware have suffered declines in China in recent years, with combined fabrication reaching 29-million ounces in 2017.
The main drivers of this have been changing consumer appetites and the impact of anti-corruption legislation on the gifting market. The authors of the report believe, however, that the end of this downtrend is near.
“In fact, silverware has already turned a corner, while silver jewelry in China is expected to return to positive growth from 2020 onwards.”
Mining Weekly
www.miningweekly.com/article/china-expected-to-continue-as-major-driver-in-global-silver-market-silver-institute-2018-09-12
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Predicting the End of the World—Part Two
by Gary Christianson | Sep 12, 2018 | Articles | 0 comments
Miles Franklin sponsored this article by Gary Christenson. The opinions are his. Part one is available here.
Part one discussed the “what” and “why” of unpayable debt, an inevitable “reset” or the end of the current financial world. Part two addresses when.
REVIEW FROM PART ONE:
A risk/reward analysis for 2018—202? points toward gold and silver, not stocks, bonds, corporate debt, student loans or most asset classes.
The “everything bubble” will burst. Consequences will be dire for many individuals, businesses and governments.
Debt and spending are “out of control.” Central banks will “paper over” massive defaults, and fiat currencies will devalue.
Hyperinflation, defaults and resets occurred in many countries and could (will) happen in developed countries such as the U.S.
Rig for stormy weather! Gold and silver bullion and coins are “insurance” against the inevitable currency devaluations that must occur in our debt based fiat currency systems.
Part Two—When?
The global economy carries debt of about $250 trillion, an impossible sum to repay, which suggests default, devastating inflation, and probably both.
A reset may occur as a series of rolling debt defaults, stock and bond market crashes, and/or hyperinflation—South American style. Unbacked fiat currencies and over-valued stock markets are likely to crash. The reset could also happen as a slow moving default and credit crunch that progresses from the periphery—Turkey, Iran, Venezuela, Argentina—to Europe, Japan and the United States. Or, it may be a global reset that occurs within a few days.
WHAT OTHERS SAY:
From Jim Sinclair and Bill Holter. (Heed their experience, wisdom, and intelligence.)
“Contagion is on its way in the currency market. When is now.”
From Bill Bonner:
“Fed policy always consists of the same three mistakes.
Keeping interest rates too low for too long, resulting in too much debt.
Raising interest rates to try to gently deflate the debt bubble.
Cutting rates in a panic when stocks fall and the economy goes into recession.”
and
“… printing money—lots of it—to cover soaring deficits… save the bankers… reward the cronies…” [When mistakes one, two and three have failed.]
From Charles Hugh Smith: “The Global Financial System Is Unraveling.”
“… a great many currencies around the world are in complete meltdown. This is not normal. Nations that over-borrow, over-spend and print too much of their currency to generate an illusion of solvency eventually experience a currency crisis…” [Venezuela, Argentina, Japan, Europe, U.S. etc.]
“The fact that so many currencies are melting down at the same time is telling us the global financial system is unraveling, and unraveling fast.” [When is now!]
“The belief that U.S. markets are somehow disconnected from global markets and immune to the repricing of risk, debt, assets and currencies is magical thinking.” [It can happen here.]
From Pam Martens and Russ Martens:
“JPMorgan suggests the next financial crash may be so cataclysmic that the Federal Reserve may have to enter the market to buy up stocks…” [Save the 1%.]
From Bill Holter:
“Can the country survive without borrowing” Can the financial system survive without the life support policies fostered by the central bank?”
From Alasdair Macleod:
“Change will only come for the ultimate collapse of a system that promotes interests over freedom.” [The collapse of the deep state, if it happens, will be traumatic.]
“China could easily have accumulated a strategic reserve of 20,000 tonnes [of gold] before the public was authorized to acquire gold… We do know that in addition to the state’s accumulation, some 17,000 tonnes have been withdrawn from SGE vaults by the general public.”
[Supposedly Fort Knox contains 4,500 metric tons of gold, unaudited since the 1950s. That gold is probably as real as congressional integrity…]
“The next credit crisis, itself an event of which we can be sure, will almost certainly be met with lower interest rates and more quantitative easing.” [and dollar devaluation]
“… the yuan and the ruble, will not survive in their current form. They will have to be backed by gold… America could save the dollar by following suit… but to do so requires her to abandon almost everything the government and the Fed currently believe…” [The Fed will do the “right thing,” only after all alternatives have failed…]
From Gains, Pains and Capital:
“The Fed has burst the Everything Bubble… [by raising interest rates]
“… capital is moving into the US propping up our markets, while the rest of world collapses.” [Disaster moves from the periphery toward the center.]
From The Motley Fool: “6 Signs the next Recession might be closer than we realize”
“The unemployment rate will push lower. [via the power of statistical manipulation]
The yield curve is flattening. [sign of recession]
Inflation has begun picking up. [Fed statistics show rising inflation.]
Home sales are beginning to decline in key markets. [remember 2008]
Credit card debt and late payments are on the rise. [I wonder why.]
The economic cycle suggests a correction.” [Bull markets driven by trillions of funny money don’t last forever.]
From Bill Bonner:
“… a credit deflation… with falling stock prices and a recession—is inevitable. Every credit-fueled boom eventually runs out of gas… and then turns into a bust.”
“… $69 trillion worth of debt hanging over the U.S. economy… wouldn’t exist with honest money or honest interest rates. And it will go away—along with the asset prices, businesses, and lifestyles it supports—when the credit bubble pops.”
Repeat: From Jim Sinclair and Bill Holter.
“When is now.”
[thanks to central bank policies, mis-priced risk, artificial interest rates, overwhelming debt, and QE]
A reset is inevitable, probably soon. Many signs show we are at the end of the credit cycle. A reset has begun in other countries.
Jim Sinclair thinks the world will be very different by June 2019. It’s almost certain that most or all of the following will occur in several years.
Economic recessions, stock and bond market corrections and crashes.
Central bank printing, more QE, bank bailouts, pension fund bailouts.
Currencies, including the U.S. dollar, will be worth less.
Commodity prices will fly higher as central banks devalue currencies.
Global debt of $250 trillion will increase, perhaps correct, and then surge much higher as QE, bailouts, emergency measures, defaults and other “corrective measures” are used. [Save the big banks, but everyone else is expendable.]
Politicians will promise to “do something” besides collecting payoffs.
Universal Basic Income (UBI) and other nonsense will be considered.
A reset will crash into the U.S. from other countries and shock most people.
Winter is coming!
From Ted Butler:
“We are locked and loaded for an upside move of great significance in gold and silver.”
Miles Franklin will recycle dollars from over-valued stock markets into real money—gold and silver. The conversion is important because some stocks sell at all-time highs while gold and silver prices are low.
Gary Christenson
https://www.milesfranklin.com/predicting-the-end-of-the-world-part-two/
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Gold Price Slips After Negative Trump Tweet On China-U.S. Trade
New York (Sept 13) Gold prices have dropped from their daily highs and are trading slightly lower in late-morning dealings Thursday, following a tweet from President Trump that appears to downplay any progress made on the U.S.-China trade dispute front. Gold saw some buying strength on Wednesday on reports the U.S. made an overture to China to restart the stalled trade talks between the world's two largest economies. It can be extrapolated that a U.S.-China trade agreement would be a benefit for precious metals markets due to more demand coming from China because of its better economic strength from a trade agreement. December gold was last down $1.70 at $1,209.20.
KitcoNews
.jpg)
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