Via Sovereignman.comWeek before last, I told you about how the brand-new President of South Africa, Cyril Ramaphosa, made an impassioned speech calling for the confiscation of real estate from white land owners.It was a pretty remarkable thing to say during what was literally his first week in office.You'd think the new president would take the opportunity to address more immediate, more critical...Read More
Base metals traded on the London Metal Exchange are down across the board by an average of 0.3% this morning, Wednesday March 7. Nickel leads the decline with a 0.9% drop to $13,520 per tonne, while the rest are off between less than 0.1% and 0.3%, with three-month copper prices at $6,977 per tonne.Volume has been average with 6,272 lots traded as of 06.48am London time. Precious metals prices are...Read More
CloseGain/LossGold $1325.20-$8.50Silver$16.48-$0.26XAU78.79-2.48%HUI173.41-2.50%GDM605.87-1.64%JSE Gold1138.24-1.85USD89.58-0.04Euro124.13+0.03Yen94.35+0.09Oil$61.15-$1.4510-Year2.882%-0.002T-Bond144.125-0.28125Dow24801.36-0.33%Nasdaq7396.65+0.33%S&P2726.80-0.05% The Metals: Gold fell $10.90 to $1322.80 in early afternoon New York trade before it edged back higher into the close, but it st...Read More
By Graham Summers The financial media is awash with claims that Gary Cohn's resignation as Chief Economic Advisor is triggering a market collapse. While it's true that a market collapse is starting again, it has nothing to do with Gary Cohn. How do I know? Because Gary Cohn first wrote a resignation letter back in August 2017 in the wake of the Charlottesville mess... and stocks exploded hig...Read More
David Stockman on "Mornings with Maria" (Fox Business, March 7, 2018)David Stockman is a former Republican congressman from Michigan and was President Reagan's budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman's Contra Corner, and he is the aut...Read More
By Jordan Roy-Byrne CMT, MFTA The precious metals sector continues to correct and consolidate. Gold remains in a bullish consolidation. It recently reached resistance again and even though it has failed to breakout, it remains above long-term moving averages which are sloping upward. However, the gold stocks and Silver remain in correction mode. They are trading below the long-term moving avera...Read More
Gregory Mannarino started his financial career working for the securities and trading arm of the now defunct Bear Stearns before the dot-com bubble. He is an active trader of the capital markets and has published several books pertaining to finance, global economics, and equity trading; His most recent book is titled Ultimate Guide To Money and The Markets (free ebook). Gregory currently hosts a b...Read More
With his announcement last week of broad tariffs on imported steel and aluminum, President Trump launched what could be the first salvo of an all-out global trade war. Seemingly itching for a fight, he gleefully tweeted that "Trade wars are good, and easy to win." It seems like Trump thinks the conflict will play out much like Ronald Reagan's 1983 week-long invasion of Grenada rather than the mo...Read More
Domestic prices for cold-rolled coil (CRC) in the EU have been largely unchanged over the past week because market activity has been slow, sources told Metal Bulletin on Wednesday March 7."The majority of buyers have booked the volumes they needed and now prefer to wait and see where the market will move," a German trader said.Northern EuropeMetal Bulletin's weekly price assessment...Read More
Economies run in bubbles, they expand and then burst. Is our current economy about to burst? In this episode, Robert & Kim talk to Doug Casey, a contrarian investor with decades of experience building wealth during times of crisis. Find out what you can do to protect your wealth and even build wealth in uncertain times.Doug Casey is an American-born libertarian economist and advocate of the free m...Read More
By Stewart Dougherty"Passivity is fatal to us. Our goal is to make the enemy passive. ... Communism is not love. Communism is a hammer which we use to crush the enemy." Mao Tse-tung, proclaiming the founding of the People's Republic of China, 1949Circumstantial evidence is mounting high that there is something seriously wrong with the amount of gold reportedly owned by the United States governme...Read More
Domestic prices for hot-rolled coil (HRC) in the EU have been largely stable over the past week, with buyers remaining in "wait-and-see" mode, sources have told Metal Bulletin.European mills have been offering June-production HRC but buyers have held back from booking significant volumes until the market trend becomes clear for the third quarter of the year.In addition, end-users have not fully tr...Read More
The Bank for International Settlements reduced its use of gold swaps and other gold-related derivatives during February, according to the bank's statement of account for the month:https://www.bis.org/banking/balsheet/statofacc280218.pdfThis decrease follows a large increase in the bank's gold swaps in January. In recent months the BIS has been actively trading gold derivatives and the amounts di...Read More
Index futures have plunged Tuesday night on news that Gary Cohn, Trump's top economic adviser, is resigning. The selloff has brought the E-Mini futures down to within an inch of triggering a 'mechanical' buy I'd flagged at 2687.00. Ordinarily I'd say jump on it using the precautions I'd advised to set up a low-risk entry point. After all, who the heck is Gary Cohn, anyway? I could not have a...Read More
Domestic prices for heavy steel plate in Southern Europe have increased over the past week, reflecting rising slab costs, sources told Metal Bulletin on Wednesday March 7.Metal Bulletin's weekly price assessment for domestic grade-S235JR heavy steel plate in Southern Europe was ?,?580-590 ($718-730) per tonne ex-works on Wednesday, up by ?,?10 per tonne week-on-week.The assessment reflected "worka...Read More
- Gold no longer fears or pays attention to Fed announcements regarding interest rates- Renewed interest in gold due to inflation fears and concern Fed won't do enough to control it- Higher interest rates on horizon will make debt levels unsustainable- New Fed Chair warns "the US is not on a sustainable fiscal path" and could lead to an "unsustainable" debt load- Higher interest rates are good f...Read More
The head of NATO says the alliance's troops will stay in Iraq so long as that's OK with the Iraqi government. Former US Congressman Ron Paul thinks it's time for the alliance to pull out its forces.Dr. Ron Paul is a physician and former twelve-term congressman from Texas who ran for president in 2008. He is the author of eight books, including the New York Times bestsellers The Revolution: A Manif...Read More
Last week we identified a prime chart pattern in natural gas that matched our technical analysis and cycle price prediction system. This type of setup is our favorite as it leads to quick juicy profits and the last setup we had like this in natural gas I think we pocketed 74% return in 12 days using the ETF UGAZ. Charts speak for themselves so let me show you what myself and our subscribers are in...Read More
Trade wars will increase as the Trump administration is considering clamping down on Chinese investments in the USA along with imposing tariffs on a broad range of Chinese imports. Gary Cohn resigning as Trump's top economic advisor will be bearish for the US dollar and bullish for gold. Key US economic data releases begin from today with February US private ADP jobs number. It remains to be s...Read More