PE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> Gold & Silver News

AuthorTopic: Gold & Silver News  (Read 454100 times)

Offline g

  • Golden Oxen
  • Contrarian
  • Master Chef
  • *
  • Posts: 12280
    • View Profile
Re: Gold & Silver News
« Reply #2370 on: July 31, 2018, 06:01:49 AM »
The empire has to go after Iran sooner or later. That's where the oil is.

I don't expect it right away, but anything can happen. This administration is capable of maximum chaos.

For Sure! Wouldn't leave Israel out of my thoughts on this Iran matter or the Saudi's either Edward.

Offline Surly1

  • Administrator
  • Master Chef
  • *****
  • Posts: 18102
    • View Profile
    • Doomstead Diner
Re: Gold & Silver News
« Reply #2371 on: July 31, 2018, 08:57:55 AM »
The empire has to go after Iran sooner or later. That's where the oil is.

I don't expect it right away, but anything can happen. This administration is capable of maximum chaos.

Plenty of oil in Venezuela, too, at a far lesser geopolitical cost. Hell, we've been ratfucking their economy for two years with sanctions, to the point where they have gone Full Zimbabwe. With a good shove, they'll topple over. Shouldn't we send in the Marines? It's what we do, amirite? No nuclear-tipped showdown with Russia over Iran, either.

Who's first to enlist for Oil For Empire? Hands??
"Do not be daunted by the enormity of the world's grief. Do justly now, love mercy now, walk humbly now. You are not obligated to complete the work, but neither are you free to abandon it."

Offline g

  • Golden Oxen
  • Contrarian
  • Master Chef
  • *
  • Posts: 12280
    • View Profile
Re: Gold & Silver News - Ronni Stöferle on Why Gold Still Matters
« Reply #2372 on: August 01, 2018, 04:29:48 AM »
Even many libertarians dismiss gold and precious metals as irrelevant in the global monetary system. Ben Bernanke famously told Ron Paul that gold is a commodity, not money. So why do central banks still hold so much of it, Ron asked? Good question. Ronni Stöferle from Incrementum AG joins Jeff Deist to talk about everything related to gold: why it's still money, how it might react to rising interest rates, why the IMF still worries about it, and why so much of it seems to be flowing from West to East. You won't want to miss his analysis of why gold and precious metals are complementary assets with respect to cryptocurrencies, and his call for both camps to join forces and promote Hayek's goal of denationalizing money.


                                       <a href="http://www.youtube.com/v/3-pWs2aLC5w" target="_blank" class="new_win">http://www.youtube.com/v/3-pWs2aLC5w</a>


                                       
HIGHLIGHTS FROM THE INTERVIEW


“Central banks have a kind of paradoxical task because they have to explain to their people that the currency, be it the dollar, be it the euro, the yen, whatever, is great, but still they’re holding quite a lot of gold. I mean for industrialized countries, they’re holding roughly 20% of their total reserves in gold. So if it’s useless, as most central bankers would say, why do they still hold it?”

“If [gold] wouldn’t be money, why does the US have 8,100 tons? Why does the IMF have 3,000 tons? Why does the euro system hold more than 10,000 tons of gold? Why has Russia tripled its gold reserves in the last 10 years? Why is China buying every piece of gold that’s not nailed down at the at the largest mining production in the world and they don’t export any gold at all?”

“The central banks do not really enjoy talking about gold and its monetary aspects because of course, they have to defend their fiat currencies.”

“I think what is currently happening, we describe that with this term of de-dollarization, which is going on, which is a long process of course. And I think when it comes to gold, gold plays a major role in that process.”

“Gold just helps people with securing purchasing power.”

“I think it’s no coincidence that gold, on every continent, in every culture, in every religion, plays a very, very important role. And I think the market throughout history, throughout centuries, has decided that gold is something special.”

“Money used to be, ‘I owe you gold.’ Then it became, ‘I owe you nothing.’ And the SDRs [IMF Special Drawing Rights] is, ‘who owes you nothing.'”

“Over here in the eurozone, when they introduced the euro, in the whole campaign of explaining the euro and the concept of the euro, they really often told people the euro-system holds more than 10,000 tons of gold to create trust in the new currency.”

“I think the next big crisis, that will happen sooner or later, of course, might really be not a cyclical crisis, not a financial crisis, but a currency crisis.”

“Those headwinds that gold is facing, they will become tailwinds when recession fears come up, when the market realizes the emperor has no clothes, because let’s face it, the superficial stability of financial markets only depends on the faith of market participants in central banks, in the whole monetary philosophy, in their power to manage the market. And I’m pretty certain that if the Fed fails with its normalization efforts and the US falls into recession, which is our expected scenario, then there will be a severe loss of confidence in central bank-administered monetary policy.”

“This is probably the perfect storm for gold if this tide of the turn is happening.”
                               


https://schiffgold.com/interviews/does-gold-still-matter-interview/  :icon_study: :icon_study:


                 

                                     New Year of the Ox set of 2 Stamps  1997 China
Scott #2747-8

Offline Eddie

  • Global Moderator
  • Master Chef
  • *****
  • Posts: 18962
    • View Profile
Re: Gold & Silver News
« Reply #2373 on: August 01, 2018, 05:44:20 AM »
I expect gold to behave, in the next big crisis, exactly like it did in 2008. When equities finally do really tank, the margin calls will turn the gold markets into a temporary bloodbath, just like it did then.

ONLY in a currency crisis will gold soar. IF we get a currency crisis, it will not precede the equity crash.



The current new tax cut noises are another attempt to jawbone the markets upward.

I think we get a correction, but no currency crisis unless something finally does happen that lets the Eurozone banks actually shutter their doors. Only a credit collapse can lead to a currency collapse. I put that at a fairly low probability for the next five years. Maybe eventually. But betting on it in the short term is liable to be disappointing.

Betting on inflation is a much surer thing, imho. Which is why I'm adding to my bets there in a modest way, as of now. Hyperinflation? Nah. Not here, not in the short term.

Whatever happens, its time for people to put their money where their mouth is. Borrowing money is going to get tight. You can bet on that.

What makes the desert beautiful is that somewhere it hides a well.

Offline g

  • Golden Oxen
  • Contrarian
  • Master Chef
  • *
  • Posts: 12280
    • View Profile
Re: Gold & Silver News
« Reply #2374 on: August 01, 2018, 06:01:17 AM »
I expect gold to behave, in the next big crisis, exactly like it did in 2008. When equities finally do really tank, the margin calls will turn the gold markets into a temporary bloodbath, just like it did then.

ONLY in a currency crisis will gold soar. IF we get a currency crisis, it will not precede the equity crash.



The current new tax cut noises are another attempt to jawbone the markets upward.

I think we get a correction, but no currency crisis unless something finally does happen that lets the Eurozone banks actually shutter their doors. Only a credit collapse can lead to a currency collapse. I put that at a fairly low probability for the next five years. Maybe eventually. But betting on it in the short term is liable to be disappointing.

Betting on inflation is a much surer thing, imho. Which is why I'm adding to my bets there in a modest way, as of now. Hyperinflation? Nah. Not here, not in the short term.

Whatever happens, its time for people to put their money where their mouth is. Borrowing money is going to get tight. You can bet on that.



Perhaps, you certainly are entitled to your opinions about the future. My only objection would be that you state them as facts.

Since my opinion is many of your statements are unlikely or conjectures not thought out carefully, My thought is you should remain flexible, very flexible, with regards to possibilities in the crazed maniacal financial world we find ourselves in. 

I find your idea that gold can only soar in a currency crisis a notion that could well prove to be very inaccurate. Not that it wouldn't soar in one, it's just that I see many more possibilities for the yellow metal to shine brightly.

Offline Eddie

  • Global Moderator
  • Master Chef
  • *****
  • Posts: 18962
    • View Profile
Re: Gold & Silver News
« Reply #2375 on: August 01, 2018, 06:16:56 AM »
I am just stating what I see as LIKELY. More likely than what some Austrian economist thinks. Opinion, but based on reality,..

There is a short list of other possibilities.

At the beginning of a big war, gold will shine.

If inflation hits double digits on the current crooked gov't measuring stick, that would be good for gold, but it wouldn't mean overnight  $5000/oz gold. It would just set off a new up wave.

If the London and NY crooked paper gold markets fail..... that'd be likely to make physical gold spike.

I'm sure there are other possibilities, but none of these things I can think of are worth betting money on, in the short run. Low probability in the short term. That's all I'm saying.

My view is that tangible assets in general, including physical gold, are a better store of wealth for most people right now than shares.

Platinum looks really good to me now. What are your thoughts on platinum?

What makes the desert beautiful is that somewhere it hides a well.

Offline g

  • Golden Oxen
  • Contrarian
  • Master Chef
  • *
  • Posts: 12280
    • View Profile
Re: Gold & Silver News
« Reply #2376 on: August 01, 2018, 08:04:41 AM »
Quote
Platinum looks really good to me now. What are your thoughts on platinum?
Eddie, It is a metal too tied to technology and science, not money; a catalyst, which leaves me in the dark completely. :dontknow:

My background is Literature and History, religious teachers when I went to school treated science very lightly if at all.

Find myself marveling often at how well rounded some diners are in math and science and read their postings as best I can but most of the time am just plain clueless as to what they are talking about.  :icon_scratch:


Offline Eddie

  • Global Moderator
  • Master Chef
  • *****
  • Posts: 18962
    • View Profile
Re: Gold & Silver News
« Reply #2377 on: August 01, 2018, 09:28:01 AM »
I'm certainly not an expert, but platinum is near the low end of its historic price in relation to gold. It looks like there are a couple of "industrial" reasons for that.

One is the VW scandal, which put a big dent in diesel car sales. Also, there is a new cheaper technology that reduces the need for platinum as catalyst in diesel cars. Big truck engines are the driving market.

Premiums on platinum are sky high, which seems like a chronic condition, especially for the bullion coins, which are apparently hard to strike compared to gold. Platinum is very hard. Looks like one oz certified bars are nearly 50 bucks an oz cheaper than Platinum Eagles.

Wow. That's a big difference.

Screen Shot 2018 08 01 at 11 20 42 AM
Screen Shot 2018 08 01 at 11 20 42 AM

Platinum is cheaper than it's been in 20 years. I do believe it'll revert to the mean, but I have no idea when.

The biggest thing is that platinum is REALLY rare. SA is about the only good source, and we know what's going on there. Nothing good.

« Last Edit: August 01, 2018, 09:33:48 AM by Eddie »
What makes the desert beautiful is that somewhere it hides a well.

Offline Karpatok

  • Contrarian
  • Sous Chef
  • *
  • Posts: 1427
    • View Profile
Re: Gold & Silver News
« Reply #2378 on: August 01, 2018, 09:35:02 AM »
I'm certainly not an expert, but platinum is near the low end of its historic price in relation to gold. It looks like there are a couple of "industrial" reasons for that.

One is the VW scandal, which put a big dent in diesel car sales. Also, there is a new cheaper technology that reduces the need for platinum as catalyst in diesel cars. Big truck engines are the driving market.

Premiums on platinum are sky high, which seems like a chronic condition, especially for the bullion coins, which are apparently hard to strike compared to gold. Platinum is very hard. Looks like certified bars are nearly 50 bucks an oz cheaper than Platinum Eagles.

Wow. That's a big difference.

Screen Shot 2018 08 01 at 11 20 42 AM
Screen Shot 2018 08 01 at 11 20 42 AM

Platinum is cheaper than it's been in 20 years. I do believe it'll revert to the mean, but I have no idea when.

The biggest thing is that platinum is REALLY rare. SA is about the only good source, and we know what's going on there. Nothing good.

                Please tell what you know about nothing good in SA. I have just found out something extremely interesting.

Offline Eddie

  • Global Moderator
  • Master Chef
  • *****
  • Posts: 18962
    • View Profile
Re: Gold & Silver News
« Reply #2379 on: August 01, 2018, 09:43:36 AM »
Well, I posted something last week....it seems like there is a whole lot of fudging on the invoicing for mining exports.

Gold, diamonds, and other precious commodities are apparently being sold under the table by corrupt officials, which shows up as a discrepancy between what they SAY they're selling, and what the buyers in Europe and elsewhere are reporting that they're buying.

Corruption is pretty rampant in the new SA, and it appears to go to the highest levels.

I jokingly said South Africa is trying to become the new Haiti, but there is more than a passing resemblance, from what I see.
What makes the desert beautiful is that somewhere it hides a well.

Offline Eddie

  • Global Moderator
  • Master Chef
  • *****
  • Posts: 18962
    • View Profile
Re: Gold & Silver News
« Reply #2380 on: August 01, 2018, 09:52:33 AM »
There's a big land grab currently in progress, which means the government is going to steal land from people who happen to own it currently.

They're going full Zimbabwe, looks like.

https://www.bbc.com/news/world-africa-45026931
What makes the desert beautiful is that somewhere it hides a well.

Offline Karpatok

  • Contrarian
  • Sous Chef
  • *
  • Posts: 1427
    • View Profile
Re: Gold & Silver News
« Reply #2381 on: August 01, 2018, 10:14:15 AM »
Well, I posted something last week....it seems like there is a whole lot of fudging on the invoicing for mining exports.

Gold, diamonds, and other precious commodities are apparently being sold under the table by corrupt officials, which shows up as a discrepancy between what they SAY they're selling, and what the buyers in Europe and elsewhere are reporting that they're buying.

Corruption is pretty rampant in the new SA, and it appears to go to the highest levels.

I jokingly said South Africa is trying to become the new Haiti, but there is more than a passing resemblance, from what I see.
             Here is what I have often read in the MSM. That yes great corruption in the highest part of the government, Zuma just stepped down, now it's Rhamphosa, same old, same old. And white farmers fleeing to Russia to avoid being murdered as well as other remaining whites.
             So I was really concerned about the well to do white family that I know. Not well. Why were they not scrambling to sell all their property, take what they could and get out?
             So I began googling for articles about the real state of affairs in SA. And low and behold I found several declaring that since the end of Apartheid nothing, virtualy nothing has changed. The white capitalists that have all the money and means are still in absolute control. The Blacks, with the exception of the few in government and government jobs, are still very impoverished, spat upon in some places, living still in bush like conditions with bad schooling etc.
            That certainly explains well to do white South Africans not being in a hurry to leave. As the person I know said, " We are really living very well and could not replicate it somewhere else." This means that the whites are controlling the Black front only government. It means that all the hoopla about Nelson Mandela and reconciliation was just a sham. Well what else is new? And who are those white capitalists in bed with? Eh?

Offline Karpatok

  • Contrarian
  • Sous Chef
  • *
  • Posts: 1427
    • View Profile
Re: Gold & Silver News
« Reply #2382 on: August 01, 2018, 10:20:43 AM »
There's a big land grab currently in progress, which means the government is going to steal land from people who happen to own it currently.

They're going full Zimbabwe, looks like.

https://www.bbc.com/news/world-africa-45026931
Yes, same old scare. But I no longer fully believe it. This individual with whom I spoke just last night fully believes he will inherit. It won't be Zimbabwe because these very rich white capitalists have better connections.

Offline g

  • Golden Oxen
  • Contrarian
  • Master Chef
  • *
  • Posts: 12280
    • View Profile
Re: Gold & Silver News
« Reply #2383 on: August 01, 2018, 10:38:23 AM »
I'm certainly not an expert, but platinum is near the low end of its historic price in relation to gold. It looks like there are a couple of "industrial" reasons for that.

One is the VW scandal, which put a big dent in diesel car sales. Also, there is a new cheaper technology that reduces the need for platinum as catalyst in diesel cars. Big truck engines are the driving market.

Premiums on platinum are sky high, which seems like a chronic condition, especially for the bullion coins, which are apparently hard to strike compared to gold. Platinum is very hard. Looks like one oz certified bars are nearly 50 bucks an oz cheaper than Platinum Eagles.

Wow. That's a big difference.

Screen Shot 2018 08 01 at 11 20 42 AM
Screen Shot 2018 08 01 at 11 20 42 AM

Platinum is cheaper than it's been in 20 years. I do believe it'll revert to the mean, but I have no idea when.

The biggest thing is that platinum is REALLY rare. SA is about the only good source, and we know what's going on there. Nothing good.

While being aware of those factors it still leaves me clueless as to it's future price.

Keep in mind that it has no history as money and thus is not part of the financial system also is tied to the auto and truck industry and has a much less scarce relative in palladium. It's scarcity is it's best attribute IMO but that does not mean a thing about it's price now or later.

I would counsel that silver was a better investment at these prices, while realizing platinum could have a big move upwards as well, but nor for monetary reasons.

You are in error in my opinion as well reading anything into the gold platinum ratio. the gold Silver ratio is the one you want to watch as they are related. Platinum is not except for the name precious which can be applied to anything scarce as well a unique. You would be better advised to follow a platinum to palladium or zinc or copper ratios, any of the industrial metals rather than the two monetary metals. 

This is a subject that has had my attention for decades that I've thought much about, have cautioned folks against buying platinum as opposed to gold. Those who did not take my advice  were enamored with the scarcity angle. It is an overrated misunderstood factor in my view as it relates to gold and silver but not when comparing it with other industrial metals.

This does not mean that your ideas on Platinum will not bare fruit, just that serious savings protection money would be safer and surer invested in my favorites. 

Offline Eddie

  • Global Moderator
  • Master Chef
  • *****
  • Posts: 18962
    • View Profile
Re: Gold & Silver News
« Reply #2384 on: August 01, 2018, 11:23:19 AM »
I'm certainly not an expert, but platinum is near the low end of its historic price in relation to gold. It looks like there are a couple of "industrial" reasons for that.

One is the VW scandal, which put a big dent in diesel car sales. Also, there is a new cheaper technology that reduces the need for platinum as catalyst in diesel cars. Big truck engines are the driving market.

Premiums on platinum are sky high, which seems like a chronic condition, especially for the bullion coins, which are apparently hard to strike compared to gold. Platinum is very hard. Looks like one oz certified bars are nearly 50 bucks an oz cheaper than Platinum Eagles.

Wow. That's a big difference.

Screen Shot 2018 08 01 at 11 20 42 AM
Screen Shot 2018 08 01 at 11 20 42 AM

Platinum is cheaper than it's been in 20 years. I do believe it'll revert to the mean, but I have no idea when.

The biggest thing is that platinum is REALLY rare. SA is about the only good source, and we know what's going on there. Nothing good.

While being aware of those factors it still leaves me clueless as to it's future price.

Keep in mind that it has no history as money and thus is not part of the financial system also is tied to the auto and truck industry and has a much less scarce relative in palladium. It's scarcity is it's best attribute IMO but that does not mean a thing about it's price now or later.

I would counsel that silver was a better investment at these prices, while realizing platinum could have a big move upwards as well, but nor for monetary reasons.

You are in error in my opinion as well reading anything into the gold platinum ratio. the gold Silver ratio is the one you want to watch as they are related. Platinum is not except for the name precious which can be applied to anything scarce as well a unique. You would be better advised to follow a platinum to palladium or zinc or copper ratios, any of the industrial metals rather than the two monetary metals. 

This is a subject that has had my attention for decades that I've thought much about, have cautioned folks against buying platinum as opposed to gold. Those who did not take my advice  were enamored with the scarcity angle. It is an overrated misunderstood factor in my view as it relates to gold and silver but not when comparing it with other industrial metals.

This does not mean that your ideas on Platinum will not bare fruit, just that serious savings protection money would be safer and surer invested in my favorites.

Sensible advice. Thanks GO. I truly believe conditions in SA will continue to deteriorate, in spite of Karpatok's friends anecdotal story, which is worthy of consideration, but just an individual's perspective.

Since the blacks took over politics in SA, they have already given land to about 10% of the blacks, which is a third of their stated goal. This land was purchased from the owners, but the new plan is to use something like eminent domain to take more land whether the owners want to sell or not, and to compensate them at below market rates.

They are giving the land away to black people, but the recipients can sell immediately for cash if they want to do that. Cash money is tempting to people who have nothing. I would expect the whites to buy it back. That's predictable.

Left-leaning papers like the WaPo go on about how 10% of the population (white people presumably) owns 95% of the land, now, EVEN though apartheid ended 20 years ago.

 So....why wouldn't they? Were they expected to give their land away? Twenty years is not that long in the long term scope of things. Why wouldn't they buy land from the new black owners, if the price is right?

I wouldn't want to be depending on an inheritance of a large ag property that makes money in SA. Not a safe bet, no matter how sure they are everything will be okay.

Everything will NOT be okay. SA is affected by climate change in a big way already. Corruption IS rampant and apt to get worse in the new black run government. It's an old story, and I doubt it's any different in SA than has been anywhere else. There is no example of any black run country prospering in modern times.

Not a racist POV. Just the way it is, so far. If I'm wrong, I'm happy for somebody to correct me.

I would allow as how the Masters of the Universe with the big money definitely do prey on these countries, which all become enslaved to the banksters through the IMF. It's not an easy path.



What makes the desert beautiful is that somewhere it hides a well.

 

Related Topics

  Subject / Started by Replies Last post
0 Replies
1663 Views
Last post June 06, 2015, 08:05:44 AM
by Eddie
11 Replies
4061 Views
Last post November 06, 2015, 04:18:12 PM
by Palloy
2 Replies
1561 Views
Last post January 15, 2016, 06:40:32 PM
by Eddie