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Why Technical Analysis Does Not Work for Gold and Silver

Michael Ballanger, a precious metals expert, says he believes technical charts were created by bullion bank traders to lull the “chartists” into a false sense of security.

by Michael J. Ballanger
The Gold Report

I often include charts in my weekly missives for a number of reasons, but the truth of the matter is that they add a little color to what would normally be a pretty drab bombardment of opinion delivered via text. By adding charts, it creates the illusion that I actually understand technical analysis (which I don’t other than what I gleaned during a two week training program in 1977 while in the employ of McLeod Young and Weir) and that it is useful in the forecasting of price trends in gold and silver over the long term. Well, I have a secret to tell you—”T.A.” (as it is called by the “in crowd”) is USELESS. “Cup and handles,” “hanging Chinamen, “engulfing knickers,” “tombstone dojis”—you can fire them all in the waste bin because that is precisely where they belong.

Continue Reading at TheAuReport.com…

Trump’s Success? Blame the “Recovery”

by Jeff D. Opdyke
The Sovereign Investor

This is one of those friend-of-friend stories that no one believes. In this case, I actually know the people involved, so I can tell you it’s true.

It starts with my friend telling me recently about a conversation she had with her husband. He was part of a lunchtime discussion at work about the popularity of Donald Trump when his colleague said: “I don’t understand why people are following Trump. America is doing really well. The economy has recovered. We have plenty of jobs. Why would anyone be unhappy?”

In a certain slice of America, that perception is reality … though in reality, it’s a false perception.

Continue Reading at TheSovereignInvestor.com…

How We’ll Know When to Buy This Hated Commodity

by Wolf Richter
Wolf Street

Commodities Rout Not Quite Over Just Yet

We have not been true believers in the recent oil rally. And we still aren’t. Oil made a huge move, at one point nearly doubling in three months, but it’s still not at levels where US shale oil producers or Canadian tar sands producers can thrive, or even survive for long. We think the pain isn’t over.

We have seen this play out in US natural gas. Every major rally brought new production on line followed by an even greater natural gas glut – along with a subsequent crash in prices.

Continue Reading at WolfStreet.com…

Utopia Meets Reality in the EU

by Stratfor
Financial Sense

EU leaders obsessed with the idea of a federal Europe are losing touch with their populations and are fueling nationalist and Euroskeptic sentiment across the Continent. At least, this is how Donald Tusk, European Council president, summarized the situation in Europe during a May 30 European People’s Party summit. According to Tusk, EU leaders create “all kinds of utopias — a utopia of Europe without nation states, a utopia of Europe without conflicting interests and ambitions,” even though “the citizens of Europe do not share our Euro-enthusiasm.” Tusk is not the first EU representative to question the future of Continental integration (EU Commission President Jean-Claude Juncker recently made similar statements). But Tusk’s choice of words is notable. EU integration has often been described as a goal, an aspiration or even a dream — all concepts that involve a degree of hope to achieve a possibility. But by definition, a utopia is an imaginary place that exists only as an ideal; the word itself comes from the Greek “ou-topos,” meaning “nowhere.” Tusk has therefore admitted that a fully integrated Europe, however ideal, is impossible.

Continue Reading at FinancialSense.com…

Claudio Grass Interviews Felix Zulauf

by Pater Tenebrarum
Acting Man

Government Intervention is Making Things Worse

Our good friend and frequent contributor Claudio Grass, the CEO of Global Gold, has recently interviewed legendary Swiss fund manager Felix Zulauf. A wide range of topics was discussed, including monetary policy, the market outlook, investment decisions and precious metals.

[…] About Felix Zulauf:

Felix Zulauf started out as a trader for Swiss Bank. He joined Union Bank of Switzerland in 1977, ultimately becoming the head of the institutional portfolio management unit and global strategist for the UBS Group. He is the owner and president of Zulauf Asset Management, a hedge fund based in Zug, Switzerland, which he founded in 1990 and now runs as his private family office. According to Macro Axis, Zulauf Asset Management had AUM of $1.7 billion. Zulauf has been a regular member of the Barron’s Roundtable for almost 30 years. He also provides institutional research services.

Continue Reading at Acting-Man.com…

This Is Your Chance to Start Building Serious, Long-Term Wealth

from Casey Research

Editor’s note: Agora founder Bill Bonner has never done anything like this before…

If you haven’t heard, he recently committed to invest $5 million of his own family’s trust in the stock recommendations of just one of his analysts: expert value investor Chris Mayer.

Chris has one of the best track records in the business. Over a 10-year span, he safely beat the markets by three-to-one and outperformed some of the world’s best investors, including Warren Buffett.

And now, until tonight only, you can invest alongside Bill with a subscription to Chris’ brand-new service Bonner Private Portfolio. But, as Bill points out in today’s special essay, this service isn’t for everyone…

Continue Reading at CaseyResearch.com…

Eight Reasons Why it is So Hard to Find Someone Decent to Marry

by Michael Snyder
The Economic Collapse Blog

It is not easy to be single in America today. If you are a man, it can be exceedingly difficult to find a good woman to marry. If you are a woman, it is literally a miracle if you can find a good man to marry. So is it just our imaginations, or has the process of finding a mate become much more challenging in recent years? Well, it is a fact that fewer people are getting married these days. For the first time in our history, there are more single adults in our country than married adults, and Time Magazine says that 25 percent of Millennials will never get married even once in their entire lifetimes. And of course those that do get married are taking far longer to do so than previous generations. Just recently, I wrote about how the average American woman is getting married 7.0 years later than she did in 1956, and the average American man is getting married 6.7 years later than he did back at that time.

Continue Reading at TheEconomicCollapseBlog.com…

Mainstream Expects All at Once; in the Slowdown There Are Only Bits and Pieces but Still Pointing Down

by Jeffrey P. Snider
Alhambra Partners

As with China’s manufacturing, so goes global manufacturing. Rather than rebounding out of 2016’s dismal start, the failure to follow through in April and now May simply proves yet again that nothing has changed. These PMI sentiment surveys are believed to be far more precise than they really are. Even though the ISM Manufacturing PMI, for example, rose slightly to 51.3 in May from 50.8 in April, that isn’t a material difference in the more appropriate wider context. In the interest of brevity, I’ll just copy what I wrote earlier today of China’s PMI’s:

Continue Reading at AlhambraPartners.com…

200 Former Israeli Security Officials Push Palestinian Peace Plan

While long-time observers of the region can be forgiven for not holding their breath… it still offers an interesting insight into a growing rift between the politicians and the military they command that may have greater consequences in the future.

by James Corbett
The International Forecaster

There are new peace overtures toward the Palestinians coming out of Israel these days, but they’re coming from the last place you’d expect: the Israeli military.

Late last week a group of over 200 former Israeli military and security officials forwarded a proposal for ending the impasse with the Palestinians and normalizing ties with the Arab world.

[…] In tabling their action plan, the group–which includes IDF Generals as well as former high-ranking members of Mossad, Shin Bet and Israel Police–called for a freeze on settlement building, an acceptance of the Arab Peace Initiative and the concession of East Jerusalem to a future Palestinian state.

What is perhaps even more eyebrow-raising than the proposal itself is the context in which it is being brought forward. As Jason Ditz notes at Antiwar.com, the peace push follows consternation over Army Chief of Staff Lt. Gen. Gadi Eisenkot, who had the gall to suggest that the military should have moral standards and that Israeli soldiers shouldn’t empty magazines into Palestinian girls brandishing scissors. This was followed by Maj. Gen. Yair Golan’s controversial comparison of modern Israel to 1930s Germany. When Defense Minister Moshe Ya’alon dared to defend Eisenkot, he was ousted from his position and replaced by ultra hardliner Avigdor Lieberman, Chairman of the far-right Yisrael Beytenu.

Continue Reading at TheInternationalForecaster.com…

The TSA’s Answer to Long Lines Is… Wait for It… “More Security”

by Mac Slavo

In a very classic sense, it is a strategy for acquiring more power.

Problem. Reaction. Solution.

Though the TSA has never been effective at catching or reducing terrorism, it has become very good at inconveniencing Americans.

Rifling through their things, herding them through x-ray machines reminiscent of Nazi policies, forcing people to withstand increasingly long lines, with many people even losing out on flights. All in the name of security.

After wait times across the country have made headlines and left airport travelers stranded and fed up, Homeland Security chief Jeh Johnson, whose agency overseas the Transportation Security Administration (TSA), is calling for a solution based in… what else… greater security.

Continue Reading at SHTFPlan.com…

Global Mints Report Record Silver Coin Sales for 2015

Gold coin sales register fifth best year since 2002, 30% increase over 2014

by Michael J. Kosares
Silver Seek

[…] Global investors snapped up a record 89.6 million one ounce silver coins in 2015, according to USAGOLD’s annual survey of global bullion coin sales. The strong 2015 showing follows an equally impressive 2014 for silver coins at 77.9 million ounces and 2013 at 85.4 million ounces. Year over year, silver bullion coin demand was up 14% from 2014. Last year was a banner year for gold bullion coin sales as well – the fifth best since 2002. National mints sold 2.75 million ounces in 2015 – an impressive 30% increase over 2014.

There was nothing to distinguish 2015 from previous years except that the price was right for both metals. Gold started the year at $1188 per ounce and ended it at $1061. Silver, the more volatile of the two metals, began the year at $15.73 per ounce and ended at $13.83.

Continue Reading at SilverSeek.com…

One Stock to Rule Them All

by Jimmy Mengel
Outsider Club

Buying stocks can be overwhelming…

The five W’s — Who, What, When, Where, and Why — can lead to analysis paralysis in most people. A recent Bankrate survey confirmed as much: less than half of American adults have any money in stocks at all.

And I’m not just talking about regular stock traders — that percentage includes those who have 401(k)s and IRAs. In fact, one out of every three Americans has ZERO retirement savings. Zip, zilch, nada…

Even Americans who have taken steps to secure that future aren’t doing much better: 23% have less than $10,000 saved. That may get you through a couple of months, but it’s a far cry from a comfortable retirement.

Continue Reading at OutsiderClub.com…

Gold Daily and Silver Weekly Charts – The Lesser of Two Evils – Non Full time Payrolls

from Jesse’s Café Américain

There was another rather large set of gold deliveries on the Comex for the new June contract period yesterday.

Non-farm Payrolls (or should that be Non-full time Payrolls) on Friday.

There was intraday commentary titled Gold Cup and Handle Targets 1490 on a Breakout, With Silver Likely To New All Time Highs.

It would not surprise me if this entire election was as well scripted as a professional wrestling event. It certainly has most of the elements of one of those dramas. And the participants are of a comparable depth of character.

Continue Reading at JessesCrossroadsCafe.Blogspot.ca…

Gold and Silver – Are You Still Waiting for a Pullback, So You Can Take Part in the Bull Market?

by Peter Degraaf
Market Oracle

Well, your time has come! Gold is in the process of testing the February breakout at a very important moving average.

Whenever the market tests a breakout, it affords those who missed the breakout an opportunity to get onboard, and it enables those who helped to create the breakout, an opportunity to double up.

Charts are courtesy Stockcharts.com unless indicated.

Continue Reading at MarketOracle.co.uk…

50-Year Veteran Warns We Are Headed For Another 2008-Style Collapse

from King World News

With the war in the gold and silver markets continuing to rage, today a 50-year market veteran warned the world is headed once again for another 2008-style collapse.

John Embry: “Eric, it certainly has been an ugly couple of weeks in the precious metals space, with platinum being abused as much or more than gold and silver. I thought Andrew Maguire did an excellent job in explaining the action in his KWN interview on Friday…

Continue Reading at KingWorldNews.com…

The World’s Most-Extreme Economic Terrorism

by Jeff Nielson
Bullion Bulls Canada

When most people hear the phrase “economic terrorism”, the first thing which likely comes to mind is cyberterrorism, such as the mysterious “hackers” known (appropriately) as Anonymous. Readers of my own work may think of things like the destruction of Greece’s economy, where Greece was bankrupted when the Big Bank crime syndicate drove its interest rates as high as 30%, via the illegal manipulation of the credit default swaps market.

However, these are mere episodes of economic terrorism. The most-extreme economic terrorism in the world today is a single, ongoing crime, which terrorizes the entire world economi

Continue Reading at BullionBullsCanada.com…

Harvey Organ’s Daily Gold & Silver Report – 2016.06.01

Another huge gold notice filing at the comex for 228,100 oz./Attempted raid on gold and silver today a failure/Terrible PMI figues throughout the globe: Japan, China, Europe and USA/Japan officially delays sales tax: except the rating agencies to degrade Japan/Hollande has another nightmare: this time rail workers go on strike nationwide/Huge auto misses in the USA

by Harvey Organ
Harvey Organ’s Blog

[…] i) the June gold contract is an active contract and the second biggest delivery month of the year following December. Friday night, the bankers first day delivery issuance to our longs to be settled on June 1 was huge: the number was 3,508 gold notices for 350,800 oz or 10.9 tonnes of gold. On day two, we had another huge number of gold notices filed at 2281 for 228100 oz or 7.09 tonnes of gold.Thus in two days a total of 5789 notices have been filed for 578900 oz or 18.00 tonnes. There is no question that the bankers have uttered these words to one another: “Houston, we have a problem” in gold.

Let us have a look at the data for today

Continue Reading at HarveyOrganBlog.com…

“There Is Something Changing In The Market” – CEO Hints Of Massive Shortages As Tech Manufacturers Are Now Going Direct To Mining Companies In Search of Silver

by Mac Slavo

If there’s one thing we know about precious metals, it’s that everyone has an opinion about how gold and silver will behave as we delve deeper into global economic crisis. So, who better to give us a bit of perspective than the Chief Executive Officer of one of the world’s largest primary silver producers?

Keither Neuemyer, who has been an outspoken critic of rampant price manipulation on commodity exchanges is the CEO of First Majestic Silver and the Chairman of precious metals mineral bank First Mining Finance. His latest revelation suggests that despite billions of dollars being traded daily on paper exchanges, physical silver supplies around the world have tightened to such an extent that manufacturers have been left with no choice but to come directly to mining companies to acquire the precious metal for their high-tech products. With this in mind, and the fact that silver demand today is greater than when it was trading at nearly $50 in April of 2011, one can’t help but think that based strictly on the fundamentals we should see a much higher price in coming months and years.

We got approached by an electronics manufacturing company that manufacturers cell phones and computers about four weeks ago… There were three of them in the meeting and they wanted to bid on our silver… It’s the first time in the fourteen years that I’ve been with First Majestic that we’ve ever been contacted by an electronics manufacturer… That tells me there is something changing in the market.

Full interview via Future Money Trends:

Continue Reading at SHTFPlan.com…

Max Keiser – Currency Collapse, Gold & Silver Markets and Debt (Episode #679)

from The Creating Wealth Show

Coming to us from London, Max Keiser joins Jason Hartman for a fast-paced interview about what is going on in our world with GDP, the debt ceiling and debt loads, gold and silver markets, and currency collapse. Max is the host of “The Oracle with Max Keiser” for BBC World News and the author of the Keiser Report. Jason and Max discuss how long the world governments can put off the inevitable collapse of the fiat money produced by the central banks. Max talks about the various currencies around the world and which countries are set to implode. Other topics that Max covers are countries that are losing their sovereignty, basically being held hostage and managed by entities outside of their own country, such as the IMF and Central Banks, how bonds play a role in this issue, and the edging toward a global tax. Max talks about the many ways that the world is being led into a globalized currency, which is not a theory, but happening in real time. In addition to hosting the show and authoring the Kesier Report, Max is a blogger for the Huffington Post, and he has also presented features for the “People and Power” new magazine series on Aljazeera English.

Just go to JasonHartman.com and get started now!

Click Here to Listen to the Audio

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Andrew Hoffman – Bitcoin Breaks $500… What’s Next?

from Financial Survival Network

Wild Wednesdays with Andrew Hoffman:

– Today’s article: Why the Fed would be absolutely insane (as if they aren’t already) to raise rates June 15th

– Not that such an historically stupid decision would be “gold bearish”

– Explosion of potential near-term “black swans”

– Bitcoin Breakout

Click Here to Listen to the Audio

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If You Believe This, I Have a Bridge to Sell You

by Simon Black
Sovereign Man

All governments make absurd claims. But North Korea definitely wins the award for the most comical.

Kim Jong-Il, North Korea’s “Dear Leader” from 1997 through 2011, had some priceless gems, including:

  • He never once in his life needed to urinate or defecate
  • He wrote over 1,500 books for North Korea’s universities
  • He could control the weather with his mind, making rain or shine as his mood suited
  • He learned to walk at the age of 3 weeks, and talk at the age of 8 weeks

And my favorite (this one is actually true)– Kim Jong-Il once kidnapped two South Korean film directors and forced them to remake a version of Godzilla in North Korea.

Continue Reading at SovereignMan.com…

Why Must Aaron Sorkin’s West Wing Remain a Quaint Fiction in America

by Pam Martens and Russ Martens
Wall Street on Parade

For the past three years, the Obama administration has snatched an idea directly out of the hit TV series, “West Wing.” That’s the Aaron Sorkin created fiction revolving around the beloved President Jed Bartlet (played by Martin Sheen) and the encyclopedic brains of his executive staff who toil 24/7 in a perpetual display of personal sacrifice on behalf of the country.

West Wing ran on NBC from the Fall of 1999 to the Spring of 2006 – in other words, from the scandalous sexcapades in the Oval Office by President Bill Clinton and his catastrophic deregulation of Wall Street through the trumped-up invasion of Iraq by President George W. Bush. West Wing was, in other words, an anesthetic to the harsh reality of America’s actual Oval Office under a two-party system that had become grotesquely corrupt at the top.

Continue Reading at WallStreetOnParade.com…

Flexible Labor Is the Future

by Charles Hugh Smith
Of Two Minds

Flexible labor is the future for the basic reason that it is the only viable model going forward.

If we can’t go forward, then let’s go back: this is the guiding philosophy of the labor movement that seeks security via strict work rules. The premise here is simple: employers could provide their employees with secure employment if only they weren’t so greedy.

Unfortunately, it isn’t this simple. Even the most generous employers–for example, worker-owned co-ops and state-owned enterprises–must generate a profit that can be reinvested to replace obsolete equipment and boost productivity.

To get guaranteed employment security, you must first guarantee profits that can be reinvested to keep the enterprise afloat.

Continue Reading at OfTwoMinds.com…