Precious Metals
The Krugman Con
Submitted by Sprott Money on 10/29/2015 04:59 -0500Gold’s biggest enemy is a brilliant Nobel Prize winning economist, university professor and columnist for the New York Times. Sadly, he is also a con man.
"Hawkish" FOMC Statement Confirms "Moderate" Domestic Growth, No Longer Focused "Abroad"
Submitted by Tyler Durden on 10/28/2015 13:02 -0500With a 4% probability, it is no surprise that The Fed did not raise rates. Since The FOMC "folded" in September blaming global turmoil, stocks, bonds, and precious metals have soared as China (and EM) chaos has calmed while domestic data has declined. This has led to 'lift-off' expectations extending to April 2016, and so the question today is - how will The Fed convince the world it 'will' raise rates when it really can't...
- *FED REMOVES LINE THAT GLOBAL DEVELOPMENTS MAY RESTRAIN GROWTH
- *FED SAYS U.S. ECONOMY `HAS BEEN EXPANDING AT A MODERATE PACE'
A definite hawkish bias but so we are left data-dependent (fundamentals bad, stocks good), and less economically optimistic, but are supposed to believe that December (34%) is still a live meeting (because of some hockey-stick expectation in data) because The Fed needs to raise to show that it can.
Gold & Silver Are Spiking As 2015 Rate-Hike Odds Plunge
Submitted by Tyler Durden on 10/28/2015 08:53 -0500
As FOMC Looms, Silver & Gold Back Above Key Technical Level
Submitted by Tyler Durden on 10/28/2015 07:38 -0500With a 4.5% chance of rate hike priced into the markets at today's FOMC meeting, it is unlikely that anything exciting will happen today. However, with China outflows, BoJ easing expectations, and Draghi still promising moar, it appears precious metals are once again bid. Both Gold & Silver have broken back above their 200-day moving-averages this morning...
Deflation on the Horizon
Submitted by Sprott Money on 10/28/2015 04:59 -0500For years, a rather pointless argument has been ongoing amongst economists - that of inflation vs. deflation.
The Calm Before The Storm
Submitted by Tyler Durden on 10/27/2015 19:17 -0500Have you noticed that things have gotten eerily quiet in the month of October? For those that don’t want to believe that hard times are on the way, they can take comfort in the eerie period of calm that we are experiencing right now. What they don’t realize is that this truly is “the calm before the storm”, and the global economic crisis that is ahead of us is going to be far beyond what most people ever dared to imagine was possible.
Futures Flat After Yen Carry Tremors As Fed Starts 2-Day Policy Meeting
Submitted by Tyler Durden on 10/27/2015 05:56 -0500- Apple
- Australia
- Bank of Japan
- Bond
- Case-Shiller
- China
- Consumer Confidence
- Copper
- Crude
- Crude Oil
- Dallas Fed
- default
- El Nino
- Equity Markets
- Exxon
- fixed
- Ford
- Germany
- headlines
- High Yield
- Janet Yellen
- Japan
- Jim Reid
- Markit
- NASDAQ
- Natural Gas
- New Home Sales
- Nikkei
- OPEC
- Precious Metals
- Price Action
- RANSquawk
- Richmond Fed
- Shenzhen
- Unemployment
- Wall Street Journal
- White House
- Yen
Two biggest move overnight came from everyone's favorite carry pair, the USDJPY, which may have finally read what we said yesterday, namely that with the Fed and ECB both doing its job, there is little need for the Bank of Japan to repeat its Halloween massacre for the second year in a row, and as a result will keep its QQE program unchanged. It promptly tumbled from its 121 tractor level, to just above 120.25, where BOJ bids were said to be found. With the FOMC October meeting starting today, the other overnight catalyst was not surprisingly the latest Hilsenrath scribe in which he removed any uncertainty about a Wednesday hike, "leaving mid-December as the central bank’s last chance to raise rates this year."
Overstock Holds 3 Months Of Food, $10 Million In Gold For Employees In Preparation For The Next Collapse
Submitted by Tyler Durden on 10/25/2015 17:49 -0500"What do we do as a business so that we would be prepared when the next crash happens. One thing that we do that is fairly unique: we have about $10 million in gold, mostly the small button-sized coins, that we keep outside of the banking system. We expect that when there is a financial crisis there will be a banking holiday. I don't know if it will be 2 days, or 2 weeks, or 2 months. We also happen to have three months of food supply for every employee that we can live on."
Bitcoin Soars As China's Creeping Capital Controls Loom
Submitted by Tyler Durden on 10/25/2015 13:55 -0500Since China devalued the Yuan and surprised the world's carry traders (and central planners) by stirring up FX volatility, the demand for 'paper' gold has begun converging to the demand for physical precious metals. Gold prices are now up over $100 since August 10th, but it is another (easier to 'transport') alternative currency that has soared. Bitcoin has spike post-China-devaluation (since dipping on 'governance' concerns), accelerating from under $200 to almost $300 today, and up 25% since our September 2 explanation why China's capital account crackdown is "great news" for bitcoin.
Gold Q&A With John Butler - How To Allocate, Dollar Cost Average, Rebalance and Store Where?
Submitted by GoldCore on 10/24/2015 08:51 -0500Butler believes that since the end of the Bretton Woods monetary system, there is a strong case for having higher allocations to physical gold. He warns of the risk inherent in gold ETFs due to the levels of legal indemnifications.
Global Wealth Continues to Shift, 25% of the Western World is Broke
Submitted by Sprott Money on 10/23/2015 10:01 -0500Consumer debt culture has completely and utterly taken over the West.
Commodities, Precious Metals Are Tumbling - Give Up China Rate-Cut "Hope" Gains & More
Submitted by Tyler Durden on 10/23/2015 08:06 -0500That's not supposed to happen...
What Your High School Chemistry Teacher Never Taught You About Gold
Submitted by Tyler Durden on 10/22/2015 15:55 -0500The ‘money’ in your account doesn’t even really exist. There’s just enough of a thin layer of confidence in the system (at the moment) that this is a widely accepted practice. It seems rather strange when you think about it. Though for thousands of years, early civilizations had some pretty wild ideas about money. There are examples from history of our ancestors using everything from animals skins, to salt, to giant stones, as their form of ‘money’. Though we suppose these weren’t any more ridiculous than our version of money - pieces of paper that don’t even really exist, controlled by unelected central bankers.
Gold Is Long Term Inflation Hedge - Leading Academic Expert
Submitted by GoldCore on 10/22/2015 08:08 -0500Gold can be useful as a hedge against inflation but it's been consistently so only in the long run.
Futures Firm On Hope Draghi Will Give Green Light To BTFD
Submitted by Tyler Durden on 10/22/2015 05:56 -0500- Australia
- Bank Lending Survey
- Bank of Japan
- Boeing
- China
- Chrysler
- Conference Board
- Crude
- Daimler
- Debt Ceiling
- Enron
- Equity Markets
- fixed
- General Motors
- Gilts
- Greenlight
- headlines
- Initial Jobless Claims
- Japan
- Jim Reid
- McDonalds
- NASDAQ
- Nikkei
- NYMEX
- PDVSA
- Precious Metals
- Price Action
- Quantitative Easing
- RANSquawk
- recovery
- Reflexivity
- Shenzhen
- Ukraine
- Volatility
- Yen
After yesterday's dramatic late day market rout catalyzed by the tumble in the biotech sector in general, and Valeant in particular, and foreseen in its entirety by Gartman who went bullish just hours before, this morning US equity futures and European stocks have recouped some losses on the recursive, and traditional, hope that Mario Draghi will say something to push risk higher when he speaks in 2 hours at the ECB's press conference in Malta. And yet, just like Yellen a month ago, Draghi faces the paradox of reflexivity that after years of being ignored, is the "new thing" in town: how does he intervene and demonstrate he is readier than ever to set up stimulus, without panicking investors over euro area’s health.




