• EconMatters
    11/30/2015 - 16:21
    The ISIS group sells most of its crude directly to independent traders at the wellhead for $20-$45 a barrel earning the group an average of $1.5 million a day.

Precious Metals

Tyler Durden's picture

"It's All A Lie" - Eric Sprott Slams Massive Monetary Metals Manipulation

If the government’s official statistics are to be believed the U.S. economy is moving full steam ahead. Consumer are spending, the job market is expanding, real estate has recovered, stocks are soaring and the U.S. dollar is stronger than it has been in a decade. But if you have yet to realize it, billionaire investor Eric Sprott says "it’s all a lie." The manipulation of precious metals, coupled with the supply and demand fundamentals which Sprott says will lead to shortages over the next few years as mining companies reduce output or close up shop, will leave many investors who think their gold holdings are easily convertible to physical assets with nothing more than depreciating Yellen Bucks at exactly the moment they’ll need precious metals in their possession.

Tyler Durden's picture

Gold Mini Flash-Crashes At Asian Open

Someone decided that the exact opening of Gold futures trading on a Sunday night - ahead of a holiday week in the US - was the perfect time to liquidate over $161 million notional of 'paper' precious metals contracts... Currencies were unmoved, stocks are leaking higher and bonds lower.

Tyler Durden's picture

Mike Maloney: The Rollercoaster Crash

"The global dollar standard, that is now the longest-lived of these artificial monetary systems, has developed a bunch of stress cracks and is in the process of imploding right now. There is going to be before the end of this decade, most likely, another emergency meeting of a bunch of finance ministers and economists to try and hash out another world monetary system. It is just history repeating, and it is a natural consequence of a man-made, artificial manipulation of the free market."

EconMatters's picture

Current Copper Price Below Cost of Production

Fed Speak became hawkish to telegraph to financial markets that the December meeting was a potential live meeting for a rate rise.

Tyler Durden's picture

Weekend Reading: Differing Diatribes

Importantly, while the "bias" of the market is to the upside, primarily due to the psychological momentum that "stocks are the only game in town," the mounting risks are clearly evident. From economic to earnings-related weakness, the "bullish underpinnings" are slowly being chipped away.

Tyler Durden's picture

Whither Gold? What The Banks Think

Despite soaring physical demand, and a clear unwillingness to give up precious metals, gold's "price" is on pace to close down for the 5th straight week at its lowest in 6 years. So where do the banks think gold goes next?

Tyler Durden's picture

Europe Cracks Down On Bitcoin, Virtual Currencies To "Curb Terrorism Funding"

European Union countries are preparing to crackdown on virtual currencies such as bitcoin, and anonymous payments made online and via pre-paid cards "in a bid to tackle terrorism financing after the Paris attacks, acording to a draft document."

Sprott Money's picture

Get Ready for Crazy

Some First World governments have taken a decidedly Third World turn.

Sprott Money's picture

Physical Sales Surge, as Paper Prices Plummet

People are scared, the market is uncertain and the world is for all intents and purposes in a constant state of turmoil and flux.

Secular Investor's picture

This Is How GOLD Acted During Past Rising Rate Cycles

Presenting 8 charts that proof Wall Street pundits are (mostly) WRONG...

Sprott Money's picture

Five reasons the Fed can’t raise rates

Once you examine the finer details, it quickly becomes clear that there are five key reasons that the Fed is unlikely to raise rates anytime soon.

Tyler Durden's picture

They're Coming For Your Cash

It’s easy to be frightened by these proposals. But if governments think they can force us to accept negative interest rates on our savings by abolishing cash, they need to think again. It’s preposterous to assume that savers will passively accept outright confiscation of their assets via negative interest rates or a ban on cash. Instead, people will simply revert to other stores of value.

Tyler Durden's picture

Senate Quietly Passes Bipartisan Bill To Allow Conquest Of Space

In a bipartisan bid to encourage commercial exploitation of outer space, the U.S. Senate this week unanimously passed the Space Act of 2015. The Extraterrestrial ‘Finders Keepers’ law allows US citizens and companies to legally claim ‘abiotic’ natural resources including water and minerals. However, the bill could be a direct affront to an international treaty that bars nations from owning property in space.

Tyler Durden's picture

About 38% Of All The COMEX Gold In Hong Kong Left The Warehouses Yesterday

Roughly 21 tonnes, or 685,652 troy ounces of gold in .999 fine kilo bars, was withdrawn, net of a small deposit of 27,328 ounces, from the Brinks warehouse in Hong Kong yesterday. To put that into some perspective, that is the same amount of all gold in the entire JPM warehouse in the US. The point of this is that the price discovery in New York is becoming increasingly distinct from the actual physical supply and demand flows of bullion which are taking place in Asia... And that is a potentially dangerous development, especially with respect to a commodity that is being traded at a leverage in excess of 200:1.

Syndicate content
Do NOT follow this link or you will be banned from the site!