"The Men Behind The Curtain Are Being Revealed" – CEO Says Real-World Pricing To Return To Gold & Silver MarketsSubmitted by Tyler Durden on 04/25/2016 22:33 -0400
"They are being revealed, most certainly... whether anybody actually takes a fall for it is a whole other discussion... It’s good someone is being held accountable in some form or fashion and at least we understand what we’re dealing with... If you start getting some of the manipulation to come out of the market for fear that people are going to get called out on it, then you can allow the fundamentals to play out... and the real world pricing is being seen in the precious metals space..."
Negative rates on savings accts., life insurers & banks suffering as central bankers push NIRP/QE, increasing FICC risk. So, what's now more stable than Brazilian real & gold & close to the yen & euro? Hint: Technology will put an end to this nonsense.
US and UK – Not Panama – Biggest Tax Havens for Money Laundering Criminals
"The Cat Is Out Of The Bag" - In Interview Mossack Fonseca Founders Admit It's Over... To Rothschild's DelightSubmitted by Tyler Durden on 04/05/2016 10:29 -0400
"The cat’s out of the bag,” Mossack said. “So now we have to deal with the aftermath"... an aftermath that will make the provider of the biggest new tax haven service in the world, Rothschild, extremely happy.
Silver was battered so low in recent years’ gold bear that it’s spent 2016 trading near stock-panic levels relative to gold. Such super-low prices aren’t sustainable, so silver is due for a massive mean reversion higher
"Jurgen Mossack’s family landed here in the 1960s. During World War II, his father had served in the Nazi Party’s Waffen-SS, according to U.S. Army intelligence files obtained by the ICIJ. Once in Panama, the elder Mossack offered to spy on communists in Cuba for the CIA." And yes, Mossack Fonseca may now be history, and its countless uberwealthy clients exposed, but none other than Rothschild is now delighted to be able to fill its rather large shoes.
For Japan, the post "Shanghai Summit" world is turning ugly, fast, because as a result of the sliding dollar, a key demand of China which has been delighted by the recent dovish words and actions of Janet Yellen, both Japan's and Europe's stock markets have been sacrificed at the whims of their suddenly soaring currencies. Which is why when Japanese stocks tumbled the most in 7 weeks, sinking 3.5%, to a one month low of 16,164 (after the Yen continued strengthening and the Tankan confidence index plunged to a 3 year low) it was anything but an April fool's joke to both local traders.
We continue to see silver as very undervalued vis a vis gold but more especially vis a vis stocks, bonds and many property markets. Rather than selling the financial insurance that is gold, we would advise reducing allocations to stocks, bonds and property and allocating to silver.
Approximately 50 tonnes of BCV gold has been exported from Venezuela to Switzerland within the first 10 weeks of 2016. How much longer can this outflow continue? This gold is being exported by the BCV in order to participate in swaps (or maybe even outright sales) in order to provide external financing to the Venezuelan Government. The fact that the gold is being picked up by Brinks Switzerland suggests it is being brought to a Swiss gold refinery. The main reason gold is sent to Switzerland is so that it can be refined or recast.
Modern "Free Trade" Deals Aren't Really About Trade
The untimely death of Supreme Court Justice Antonin Scalia has predictably created a political firestorm. Republicans and Democrats, eager to take advantage of an opening on the Supreme Court, have been quick to advance their ideas about Scalia’s replacement. This is yet another spectacle, not unlike the carnival-like antics of the presidential candidates, to create division, dissension and discord and distract the populace from the nation’s steady march towards totalitarianism.
- EU Slashes 2016 Inflation Forecast to 0.5% as Growth Seen Slower (BBG)
- Bank of England cuts UK growth forecasts (FT)
- Investors Cast Wary Eye on Fed Rate Increases (WSJ)
- U.N. halts Syria talks as government closes in on Aleppo (Reuters)
- Credit Suisse Drops as Investment Bank Slump Deepens Losses (BBG)
- Six OPEC states ready for emergency meeting with non-OPEC members — Venezuela's minister (TASS)
The ink was not yet dry on the seemingly endless Monsanto-Syngenta on again/off again takeover drama, when moments ago in a shocking development the newswires were lit up with news that a new, and very much unexpected, bidder has emerged for the Swiss pesticides giant Syngenta: China National Chemical Corp, or ChemChina as it is known, which according to WSJ and BBG is set to pay $43.7 billion to acquire a piece of Swiss corporate history.
In the latest news out of the 1MDB saga, "Switzerland's chief prosecutor said on Friday a criminal investigation into state fund 1Malaysia Development Berhad (1MDB) had revealed that about $4 billion appeared to have been misappropriated from Malaysian state companies."
"The amount of the allegedly misappropriated funds amounted to approximately $ 4 billion, whose purpose is the subject of further study"...