Tag Archives: 6a) Gold & Bitcoin

◆ Gold price falls to a three-month low as concentrated selling of COMEX gold futures contracts equal to over 3 million ounces are sold in 30 minutes ◆ 33,596 contracts were aggressively sold in the 30 minutes between 10:00 and 10:30 a.m. New York time which is more than triple the 100-day average for that time of day ◆ This pushed the most active gold contract to as low as $1,448.90 an ounce, the lowest since August 5 as reported by Bloomberg (see chart below) ◆ It...

A U.S. representative who has been pressing the Treasury Department, Federal Reserve, and Commodity Futures Trading Commission (CFTC) with questions about the gold and silver markets has asked Attorney General William P. Barr to try intervene and get answers from the commission. In a letter dated November 1 and made public today, the U.S. representative, Alex W. Mooney, Republican of West Virginia, commends Barr for the Justice Department’s recent criminal...

Scottsdale, Ariz, October 25, 2019—Monetary Metals® announced today that it has leased platinum to Money Metals Exchange® to support its U.S.-based business of selling precious metals at retail and wholesale. Investors earn 3% on their platinum, which is held in Money Metals’ inventory vault in the form of platinum coins, bars, and rounds. The lease fee is paid in gold. Monetary Metals has a disruptive model, leasing gold and silver—and now platinum—from investors...

SEBA is part of a new wave of financial institutions that plan to offer a different style of banking service. (SEBA) Crypto bank SEBA is confident of attracting a “three-digit” number of Swiss clients by the end of the year before setting its sights on global expansion and raising more than CHF100 million ($101 million) in extra funding from the public. The Swiss financial regulator awarded SEBA a banking license in August, along with another bank specialising in...

Let’s revisit a point that came up in passing, in the Silver Doctors’ interview of Keith. At around 35:45, he begins a question about weights and measures, and references the Coinage Act of 1792. This raises an interesting set of issues, and we have encountered much confusion (including from one PhD economist whose dissertation committee was headed by Milton Friedman himself). Gold, Paper, and Redeemability Back in the 18th century, three facts were obvious and not...

Gold demand grew modestly to 1,107.9 tonnes (t) in Q3 thanks to the largest ETF inflows since Q1 2016 ◆ A surge in ETF inflows (258t) outweighed weakness elsewhere in the market to nudge gold demand 3% higher in Q3 ◆ Global central bank buying remained healthy but significantly lower than the record levels of Q3 2018 ◆ Central banks added 156.2t to reserves in Q3. Year to date, central banks have purchased 547.5t on a net basis, 12% higher y-o-y. The -38% monthly...

Eagle, ID (November 6, 2019) – Seven outstanding students beat out over 100 of their high-school and college peers in making the best case for sound money through an international, gold-backed scholarship competition… …and the winners walked away with almost $10,000 in scholarship awards for their exceptional, thought-provoking essays. For the fourth-straight year, Money Metals Exchange, the national precious-metals dealer that was recently ranked “Best in the USA,”...

Not too long ago, we wrote about the so called Modern Monetary so called Theory (MMT). It is not modern, and it is not a theory. We called it a cargo cult. You’d think that everyone would know that donning fake headphones made of coconut shells, and waving tiki torches will not summon airplanes loaded with cargo. At least the people who believe in this have the excuse of being illiterate. You’d think that everyone would know that printing fake money and waving bogus...

◆ “It may be time to replace bonds with gold”according to the just released excellent new Investment Update by the World Gold Council. ◆ Central banks have shifted to a new regime of easy monetary policy, thus reducing expected bond returns. ◆ As negative yielding debt increases alongside stock-to-yield valuations to all-time highs, gold may become an attractive and more effective diversifier than bonds, justifying a higher portfolio allocation than historical...

Likely to have a downturn while “there is noteffective monetary policy and that is a ‘scary situation’ – Billionaire Investment Manager Ray Dalio [embedded content] Prepare Now! Risk Of Contagion In Today’s Fragile Monetary World [embedded content] Related posts: JPMorgan Warns U.S. Money Market Stress to ‘Get Much Worse’ Oil prices and the global economy SNB to cut rates in early 2020 as global economy sours – UBS...