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This week, Steve St. Angelo of SrSRocco Report joins Dave Russell of GoldCore TV to discuss the Energy Cliff and its implications on the future economy and asset values. And why he invests in precious metals because of these energy dynamics.

Why Do Central Banks Want Higher Inflation?

October 22, 2021

Why Do Central Banks Want Higher Inflation?

The debt ceiling debate in U.S. Congress and related political nonsense brings even more to light the exponential growth in US federal government debt. US government debt has doubled in the 10 years since the last major debacle Congress created over raising the debt ceiling back 2011. The debate and Congress’s unwillingness to increase the limit back in August 2011 resulted in declining equity markets. It also resulted in Standard and Poor’s downgrading U.S. debt to AA+ from AAA!

The Political Standoff

The political standoff over raising this arbitrary restriction of how much debt the US can issue has become just another political lever in the dysfunctional Congress. As Secretary Yellen points out…

Raising the debt ceiling doesn’t authorize additional spending of taxpayer dollars. Instead, when we raise the debt ceiling, we’re effectively agreeing to raise the country’s credit card balance, and in this case, 97% of that balance was incurred by past congresses and presidential administrations. Even if the Biden administration hadn’t authorized any spending, we would still need to address the debt ceiling now. Raising the debt limit was a regular occurrence – congress has either permanently or temporarily raised the debt limit 80 times since 1960. And before 2011, this was done generally with little debate as raising the debt ceiling does not approve new or additional spending but allows the government to borrow in order to pay already approved spending.

Janet Ye llen WSJ Op-Ed 19 September 2021

That’s right it doesn’t authorize new spending it only allows for the U.S. Treasury to borrow enough to carry out the mandates of Congress for spending that has already been authorised. At least for now Congress approved enough of an increase to keep the U.S. government solvent until December 3.

…click on the above link to read the rest of the article…

Pandemic, Lockdowns, Fake and Manipulated Markets – Gold and Silver Outlook

May 12, 2020

Pandemic, Lockdowns, Fake and Manipulated Markets – Gold and Silver Outlook

Watch Video Update (Live 12/05/2020

◆ The massive global debt driven “Everything Bubble” is bursting due to the pandemic and more specifically the governments draconian economic lockdowns

◆ A dollar crisis is inevitable with U.S. government debt surging by some $2 trillion in a matter of weeks and ballooning to over $25 trillion

◆ Wall Street has just been bailed out at the expense of Main Street and families and businesses in the U.S. and throughout most of the industrial world

◆ Gold and particularly silver remain good value for those looking for safe havens to hedge the risk of financial dislocations and collapse

◆ Due to ongoing price manipulation in the futures market they have yet to price in the scale of the coming crisis; silver is actually lower despite massive demand as seen in a surge in silver ETF holdings, shortages of silver coins and bars and elevated premiums on gold but particularly silver

◆ This is much more than a “logistics” issue and is more due to actual shortages of physical metal from mines, mints and refineries and very strong global demand

◆ Gold and silver, if owned in the safest of ways, will protect people, families and companies in the coming global financial and monetary crisis

◆ Open an account with GoldCore here

◆ All the best from Stephen, Mark and the team. Be well!

NEWS and COMMENTARY

31 Gold and Silver Charts – Demand Will Soar and Gold Will Surge Once It Surpasses $1,900/oz (GoldChartsRUs)

“This event coming into play just prior to taking out all time highs at $1900 after which one could expect the prices to accelerate & demand soar.”

…click on the above link to read the rest of the article…

Gold Gains 3% To $1,672 and Silver Surges 5% To $15.40; Goldman Warns Of $3 Trillion Explosion In U.S. Debt

April 7, 2020

Gold Gains 3% To $1,672 and Silver Surges 5% To $15.40; Goldman Warns Of $3 Trillion Explosion In U.S. Debt

◆ Gold surged 2.9% and silver by 5% yesterday, with futures leading the way higher with gold reaching it’s highest price in more than seven years

◆ Investors are diversifying into safe haven gold to hedge themselves from the coming destruction of balance sheets, trillions and trillions of fiscal and monetary stimulus and a likely economic depression

◆ JPMorgan Chase & Co.’s Jamie Dimon has blamed the pandemic on creating a “major major downturn” (see News below) and potentially an economic depression

◆Goldman Sachs have warned that the emergency “stimulus” may lead to an explosion of US national debt by about $4 trillion in just two years (see News below). This is not including the trillions in monetary stimulus by the Federal Reserve to bail out Wall Street including most large financial service providers including the mortgage sector and banks

◆ The “Everything bubble” is bursting before our eyes which is evident in the stock market crashes. Property and bond market bubbles will soon burst and confidence in the dollar and other fiat currencies will soon begin to evaporate

◆ Gold’s utility as a safe haven is again being experienced by those who own it. Gold is outperforming and has delivered a 12% dollar return in 2020 year to date, exactly when they need a safe haven and a source of returns as stocks and other assets under perform. Gold has seen even greater returns in other currencies and is 15% higher in euros and 19% higher in pounds year to date.

◆ The only major asset to outperform gold year to date is the U.S. 30 year bond. This out performance is unlikely to continue as the 30 year bond cannot go much higher. We are near 0% interest rates despite the appalling fiscal, financial and economic outlook for the U.S.

…click on the above link to read the rest of the article…

Gold Bar Shortage Deepens: Credit Suisse Tell Clients “Do Not Bother Asking”

March 30, 2020

Gold Bar Shortage Deepens: Credit Suisse Tell Clients “Do Not Bother Asking”

◆ Gold bar shortage globally prompts preppers, bankers and high net worth investors alike to try and acquire large gold bars but mints, refiners, banks and dealers globally are sold out.

◆ As the coronavirus pandemic takes hold, retail and institutional investors and banks are encountering severe shortages of gold bars and coins according to industry participants (see Wall Street Journal story below).

◆ Epic gold shortage prompts those concerned about systemic collapse including preppers, bankers and high net worth alike to try and acquire gold bullion which has become ‘unobtanium’.

◆ Credit Suisse Group AG, which has minted its own bars since 1856, told clients this week “not to bother asking” for gold bars.

◆ Dealers are sold out or closed for the duration and in London, bankers are chartering private jets and trying to finagle military cargo planes to get their bullion to New York exchanges, according to the WSJ.
◆ Gold prices are consolidating after the near 8% gain last week and remain one of the best performing assets in the last twelve months and year to date.

◆ GoldCore remains open for business and when they become available we are buying coins and bars from our government mint and large refinery suppliers and from our clients. Premiums have surged and we are paying 1.5% over spot to clients for gold kilo bars and higher premiums for smaller bars and bullion coins (1 oz). We are only selling to clients who have cleared funds on account and are on our Buyers List.

NEWS and COMMENTARY

Coronavirus Sparks a Global Gold Rush – WSJ

“Gold Will Go To $2,500 Per Ounce” In The Next One to Three Years – Charles Nenner

February 5, 2020

“Gold Will Go To $2,500 Per Ounce” In The Next One to Three Years – Charles Nenner

◆ “Gold will go to $2,500 per ounce” renowned geopolitical and financial cycle expert Charles Nenner stands by his prediction of record gold prices.

◆ “Cycles show me that gold and silver will be going up for a couple of years. I take profits in a short term top, but … I am in for the long term”... as “they will go much, much higher.”

◆ How much higher could gold go in the longer term? “I made the calculation that if the system breaks down and we have to go back to the gold standard, then gold would be around $60,000 per ounce” according to Nenner

◆ “The problem is it can go to $1,890 and then suddenly to $1,470, and they get afraid and sell out and no more long term investment. . . . If you are strong enough, let it go to $2,500, but never get weak even if it goes down. Be a long term investor. . . .$2,500 gold could take three years.”

◆ The cycle says we are at the top in stocks globally and while stocks could go 3% or 4% higher or we could have a 40% or 50% correction or indeed a crash

Watch interview here

Special podcast to celebrate GoldCore’s appointment as an Approved Distributor of The Royal Mint Watch Podcast Here

Silver Prices Likely To Go “Exponential” – Guggenheim Co-Founder

January 29, 2020

Silver Prices Likely To Go “Exponential” – Guggenheim Co-Founder

◆ Silver prices are likely to go “exponential again” according to Guggenheim Partners co-founder Scott Minerd, in an interview with Bloomberg at Davos (see silver chart and interview below)

◆ Silver is “the number one conviction trade in 2020” Minerd, who is also the Guggenheim Global Chief Investment Officer (CIO) told Bloomberg whose conviction trade was greeted with surprise by Bloomberg’s Tom Keene and Jonathan Ferro

◆ Silver has more room to run and there is a “strong probability” that silver will go “exponential” again according to Minerd

◆ “When you look at the relative values of silver and gold, silver is about 65% below its prior peak while gold is very close to its prior peak”

◆ Financial markets and assets are a central bank fueled ‘ponzi scheme’ warned Minerd who is concerned about the huge rally seen in bond and particularly stock markets

…click on the above link to read the rest of the article…

GOLDNOMICS PODCAST: Prepare Now As Risk Of Contagion In Today’s Fragile Monetary World

October 14, 2019

GOLDNOMICS PODCAST: Prepare Now As Risk Of Contagion In Today’s Fragile Monetary World

◆ GOLDNOMICS PODCAST – Episode 13 – Lucky for some !

◆ Why is nobody talking about the real risk of contagion to investors, savers & companies?

Listen or Watch Podcast Here

◆ While all the focus in the UK, Ireland and the EU is on Brexit, the risk of another debt crisis looms as companies, banks, governments and the global economy grapple with massive levels of debt
◆ “Contagion will impact stocks, bonds and deposits and both investments and savings across the spectrum”
◆ Prepare for the 4 C’s: i) Counter party risk ii) Credit and debt crisis iii) Currency wars and iv) Contagion
◆ Complex financial & technology systems in the fintech age make the counter parties which investors and savers rely on more fragile. This highlights the need for direct and outright legal ownership of tangible assets
◆ Financial, economic and monetary contagion risk underlines the importance of real diversification and owning gold in the safest ways possible

Where Will The “Pending” Financial Crisis Originate?

January 14, 2019

Where Will The “Pending” Financial Crisis Originate?

– Case for a pending financial collapse is well grounded warns Rickards
– “Ticking time bomb” the Federal Reserve has created is set to go off…
– Economist warns U.S. high-yield debt, default of “junk bonds” could cause next crisis
– Systemic risk is “more dangerous than ever” as “entire system is larger than before”
– Protect wealth by allocating at least 10% of assets in physical gold and silver

Source: BofA Merrill Lynch via Marketwatch.com

from The Daily Reckoning:

The case for a pending financial collapse is well grounded. Financial crises occur on a regular basis including 1987, 1994, 1998, 2000, 2007-08.

That averages out to about once every five years for the past thirty years. There has not been a financial crisis for ten years so the world is overdue. It’s also the case that each crisis is bigger than the one before and requires more intervention by the central banks.

The reason has to do with the system scale. In complex dynamic systems such as capital markets, risk is an exponential function of system scale. Increasing market scale correlates with exponentially larger market collapses.

This means a market panic far larger than the Panic of 2008.

Today, systemic risk is more dangerous than ever because the entire system is larger than before.

Due to central bank intervention, total global debt has increased by about $150 trillion over the past 15 years. Too-big-to-fail banks are bigger than ever, have a larger percentage of the total assets of the banking system and have much larger derivatives books.

Each credit and liquidity crisis starts out differently and ends up the same. Each crisis begins with distress in a particular overborrowed sector and then spreads from sector to sector until the whole world is screaming, “I want my money back!”

…click on the above link to read the rest of the article…

Financial Advice In 2019: Own Gold To Hedge $250 Trillion Global Debt Bubble

January 8, 2019

Financial Advice In 2019: Own Gold To Hedge $250 Trillion Global Debt Bubble

– Financial advice needed in 2019? Let six experts guide you

– Save regularly, switch your mortgage, check up on tax reliefs & hedge risks in 2019 by diversifying into gold

– “There are also very real risks posed by the global debt bubble as the world nears $250 trillion in debt and the global debt-to-GDP ratio has risen to nearly 320 per cent” say GoldCore

Excerpt from Irish Times today (subscriber only)

My resolution:
One financial resolution is to read and watch less financial news. I stay up to date with financial markets, including breaking financial news, as I have to write a market update every day and frequently provide comment to media.

However, in the age of Trump and Brexit, it can be hard to keep up with it all.

I am going to unsubscribe from many of the alerts I get and become more selective and focused in my news consumption. This will help filter out much of the daily and weekly market noise and help me get more valuable long-term signal.

We believe that diversification and owning gold as a hedge and safe haven asset will again be important in 2019.

My recommendation:
We live in an increasingly polarised and uncertain world which casts shadows over our economies and the investment outlook.

This is clearly seen with Brexit, the risk of “Italexit”, an increasingly fractured EU and Trump’s aggressive foreign and economic policies, including trade wars.

There are also very real risks posed by the global debt bubble as the world nears $250 trillion in debt and the global debt-to-GDP ratio has risen to nearly 320 per cent.

We believe that diversification and owning gold as a hedge and safe haven asset will again be important in 2019 and in the coming years.

…click on the above link to read the rest of the article…

Irish Central Bank Refuses To Discuss If Gold Reserves Are In Bank of England Vaults

December 7, 2018

Irish Central Bank Refuses To Discuss If Gold Reserves Are In Bank of England Vaults

– As Brexit looms, the Central Bank of Ireland has refused to discuss the location and value of Irish gold reserves
– No date given for removal of “commercially sensitive” gold reserves from Bank of England vaults
– Bank of England vaults in London believed to hold almost €200 million of Irish gold
– Ireland’s financial system & economy is hugely exposed to a Brexit downturn

via Irish Independent:

IRELAND’S Central Bank has refused to say if it plans to move almost €200m worth of gold bars from the vaults of the Bank of England as a result of Brexit, insisting that any such move would be “commercially sensitive”.

The gold reserves have been held by its UK counterpart for a number of years, and the Central Bank has traditionally been coy on the precise details of the reserves, and the terms of the arrangement it has with the Bank of England.

It refused to be drawn yesterday on whether the reserves would be removed from the Bank of England either before or after the Brexit deadline of next March.

“It is for the Central Bank to determine how Ireland’s gold reserves ought to be managed,” a spokeswoman told the Irish Independent.

“The Central Bank’s portfolio is managed in line with approved parameters, which are kept under regular review and we report on key activities and developments in our annual report,” she added.

“The Central Bank’s transactions in gold are commercially sensitive and no further comment can be made at this time,” she said.

The latest Central Bank annual report shows that it had €209.3m worth of gold and gold receivables on its books at the end of 2017.

…click on the above link to read the rest of the article…

“Collapse Of Civilisation Is On The Horizon” – Attenborough Warns World Leaders

December 4, 2018

“Collapse Of Civilisation Is On The Horizon” – Attenborough Warns World Leaders

(Editors note: The world faces some very serious ecological challenges due to the pollution, destruction and over consumption of our natural resources. What we find quite bizarre is the complete cognitive dissonance between the increasingly alarming warnings of absolute environmental Armageddon and the complete complacency of investors and market participants.

There is a complete failure to ‘join the dots’ between environmental challenges of today and how they may impact our economies and global markets.

The notion that our global economy and financial markets including frothy risk assets such as stock and bond markets would not be impacted by “civilisation collapse” is irrational and complacent in the extreme. Our economies and markets are dependent on our planet. If civilisation collapses then so will companies, governments and economies and the markets which are all a subset of our civilisation and our planet.

Whether the severe environmental challenges of today will result in the complete collapse of civilisation is yet to be determined. We hope and believe that humanity will step back from the brink.

However, it would be prudent for people to take stock of the risks, take a long term view and diversify into physical gold and silver. Both have protected people from societal and economic collapse throughout history.

Precious metals in coin and bar form (taken insured delivery of or in allocated and segregated storage) remain vital forms of financial insurance and hedges against various worst case scenarios such as financial and currency crashes, global pandemics, world wars, natural disasters such as earthquakes, super volcanoes and ecological disasters.

“Collapse Of Civilisation Is On The Horizon” – Attenborough Warns

The world faces a “disaster of global scale” that poses the greatest threat to civilization and the natural world for thousands of years, Sir David Attenborough warned yesterday.

…click on the above link to read the rest of the article…

End Of The Financial World?

October 22, 2018

End Of The Financial World?

Predicting the end of the world, physical or financial, is seldom helpful.

If the prediction is correct, how do you profit from the insight? If the prediction is wrong and the “end of the world” is delayed (typical), you lose credibility.

An estimate of risk versus reward based on an analysis of current information is more useful.

Assessment: The 2018-2020 risk for most asset classes, such as stocks, bonds, corporate debt, and real estate is high while the potential reward in those asset classes is low. Gold and silver are opposite. Their long-term risk is low (September 2018) and their long-term potential reward is huge.

From Goldman Sachs:

OPINIONS AND FACTS SUPPORTING RISK/REWARD ASSESSMENT:

The central banks and the financial world created an “everything bubble.” This includes the stock market, bond market, housing, student loans, sub-prime auto loans, emerging markets, fiat currencies, and central bank credibility.

Low interest rates enable bubbles!

Bubbles always burst or implode. People want to believe “this time is different,” but it usually isn’t. Bubbles will implode and cause huge damage, especially to the middle and lower classes in the United States. Remember the crashes of 1987, 2000 and 2008. Each one seemed more destructive and broader in its reach than the previous crash. What will the crash of 2018 – 202? create?

If it can’t continue, it will stop – someday. Total debt – national, household, corporate, sovereign and more – has increased exponentially since 1913 when the Federal Reserve… you know the drill.

Use national debt for example. Begin the calculations in 1913, 1971, 1980, 2000 or whenever. The rate of increase in the official national debt varies but on average the debt increased by 8% to 9% every year and doubles every eight to nine years. Consider the implications of runaway debt, out of control spending, and no political will to manage spending, debt, or expansion of government, Medicare, military expenditures etc.

…click on the above link to read the rest of the article…

Real Gold and Silver Are Hedges Against the “Stupidity of the Elites” – Kiyosaki

September 3, 2018

Real Gold and Silver Are Hedges Against the “Stupidity of the Elites” – Kiyosaki

Real Gold and Silver – 7 Reasons Robert Kiyosaki Owns Them

In Robert Kiyosaki’s just-released book ‘FAKE – Fake Money, Fake Teachers, Fake Assets’, the best selling ‘Rich Dad’ author and respected personal finance expert details the seven reasons he owns “real gold and silver.”

The book is designed to deliver insights and answers to help the millions of people – many of whom have had little in the way of financial education — determine what is ‘real’ and relevant to their financial future.

Kiyosaki is the inspirational author of “Rich Dad, Poor Dad,” the No. 1 selling personal finance book of all time, and therefore always worth listening to.

Kiyosaki believes in the law of attraction and the principle that ‘like attracts like’ and focusing on the purest forms of wealth – gold and silver – attracts like and brings more wealth into gold owners lives.

He believes that holding real gold coins and bars attracts wealth to gold bullion owners through the law of attraction and is the best way to attract wealth and have a steady income.

In the book, CHAPTER 3 of which was released on Saturday (September 1st), Kioyosaki considers the 7 Reasons I Own Real Gold and Silver and we feature an short extract in our market update today:

REASON #1: Real gold and silver are not investments.

I do not own gold and silver to make money. They are insurance, a hedge against the stupidity of the elites… and myself.

I have insurance on my car, just in case someone hits me, or in case I hit someone else. Gold and silver serve a similar purpose.

…click on the above link to read the rest of the article…

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Bank Bail-In Risk In Europe Seen In 5 Charts

February 20, 2018

Bank Bail-In Risk In Europe Seen In 5 Charts

– Nearly €1 trillion in non-performing loans poses risks to European banks’
– Greece has highest non-performing loans as a share of total credit
– Italy has the biggest pile of bad debt in absolute terms
– Bad debt in Italy is still “a major problem” which has to be addressed – ECB
– Level of bad loans in Italy remains above that seen before the financial crisis
– Deposits in banks in Greece, Cyprus, Italy, Ireland, Czech Republic and Portugal most at risk from bank bail-in

As reported by Bloomberg this week in an important article entitled ‘Five Charts That Explain How European Banks Are Dealing With Their Bad-Loan Problem’:

For European banks, it’s a headache that just won’t go away: the 944 billion euros ($1.17 trillion) of non-performing loans that’s weighing down their balance sheets.

Economists say the pile of past-due and delinquent debt makes it harder for banks to lend more money, hurting their earnings. European authorities are prodding lenders to sell or wind down non-performing credit, but they’re split on how to tackle the issue, and some investors are disappointed by the pace of progress.

There are various ways of calculating soured loans. The European Central Bank advises that non-performing asset indicators should be interpreted with caution because the definition of impaired assets and loss provision differ between countries. The data used below refers to domestic banking groups and standalone banks only, and excludes foreign subsidiaries and controlled branches.

“The data for the Czech banking sector consist of the banks that represent only 6 percent of credit extended by the banks operating in the Czech Republic,” the central bank said by email.

Here are five charts (above and below) using the ECB data that help explain the non-performing loan issue and how banks are tackling it.

…click on the above link to read the rest of the article…

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