from Talk Digital Network
The Latest Updates from Harvey Organ – 2016.07.30
A huge 44.7 tonnes of gold standing for the August contract month/OI for silver remains at lofty levels: 222,909 contracts close to record set yesterday/Thursday night-Friday morning turmoil in Japan as they disappoint the street/Yen rises/USA 2nd quarter, GDP adjusted to only 1.2% which sends the dollar tanking and gold rising/Germany repatriates over 30 tonnes of gold onto its shores
by Harvey Organ
Harvey Organ’s Blog
Gold:1349.00 up $16.70
Silver 20.31 up 14 cents
In the access market 5:15 pm
Gold: 1351.00
Silver: 20.33
Oliver & Jason Answer Questions from Clients and New Investors
Live events offer investors an opportunity to meet other investors who are successful using the long-term buy and hold strategy, to hear about real life examples of the acquisition process and to learn the tips and tricks which can make an investor’s life easier. This episode is full of useful information which is framed around real client questions including what were Jason’s biggest mistakes.
Just go to JasonHartman.com and get started now!
Click Here to Listen to the Audio
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David Daley – Ratf**ked, The Secret Plan to Steal America’s Democracy
Jason shares information about credit scores you may not be aware of to assist you in actively managing it. Using his own credit history as an example he explains the terms utilization rate, how installment loans and new credit can negatively impact your score. And later in the show, guest David Daley discusses the subject matter of his new book, Ratf__ked: The True Story Behind the Secret Plan to Steal America’s Democracy. David is the former editor of the liberal site Salon.com and is the current CEO/Publisher of the Connecticut Mirror, a non-partisan publication.
Just go to JasonHartman.com and get started now!
Click Here to Listen to the Audio
Sign up (on the right side) for the instant free Financial Survival Toolkit and free weekly newsletter.
Mike’s Still Killing It On Amazon, $180,000 in Less Than 6 Mos. (Episode #4)
from Really Smart Passive Income
Mike and Matt have been killing it on Amazon. In less than 6 months they’ve grossed $180,000 in sales. With a profit margin of over 50% that means they’ve earned over $90,000 in profits.
They’ve turned the process into an exact science that virtually anyone can do with no experience in retail and no online selling experience. There’s no such thing as a right product. It’s just a question of what the right product is for you.
Mike and Matt started with less than $6,000 to launch 2 products and now they’re doing over $2,000 per day in sales. An amazing accomplishment, but one that they’ll show you how to do too!
Click Here to Listen to the Audio
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Correction Over, Gold & Gold Stocks Eyeing New Highs
by Jordan Roy-Byrne, CMT
The Daily Gold
In a bull market corrections can end quickly. One minute you are projecting another 5-10% downside and the next, the market has left lower prices in the dust. A negative reaction to the Federal Reserve statement could have caused lower prices but instead Gold and gold stocks are now primed for new highs. Fundamentally, we know the Fed will do nothing to prevent real rates from remaining negative. Since the trend has turned, Gold and gold stocks have mostly ignored the moronic, empty drivel emanating from these supposed geniuses. Moreover, despite reports of increased potential for a rate hike in September, weakness in precious metals abated and buyers returned.
17,359 Americans Have Renounced Their Citizenship Under Barack Obama
by Simon Black
Sovereign Man
Another 508 people renounced their US citizenship last quarter according to documents published this morning by the Internal Revenue Service.
This brings the total number of US ‘renunciants’ under the Obama administration to 17,359.
It’s a pretty sad state of affairs when a government’s tax policy is so oppressive that it drives people to permanently divorce themselves from their country.
Now, it’s easy to dismiss these people as traitors and cowards, and to say “good riddance, we didn’t want you anyhow.”
The Burrito Index: Consumer Prices Have Soared 160% Since 2001
Calculating the real inflation rate
by Charles Hugh Smith
Chris Martenson’s Peak Prosperity
In our household, we measure inflation with the “Burrito Index”: How much has the cost of a regular burrito at our favorite taco truck gone up?
Since we keep detailed records of expenses (a necessity if you’re a self-employed free-lance writer), I can track the real-world inflation of the Burrito Index with great accuracy: the cost of a regular burrito from our local taco truck has gone up from $2.50 in 2001 to $5 in 2010 to $6.50 in 2016.
That’s a $160% increase since 2001; 15 years in which the official inflation rate reports that what $1 bought in 2001 can supposedly be bought with $1.35 today.
If the Burrito Index had tracked official inflation, the burrito at our truck should cost $3.38—up only 35% from 2001. Compare that to today’s actual cost of $6.50—almost double what it “should cost” according to official inflation calculations.
Bob Hoye & Chris Waltzek on GoldSeek Radio – July 29, 2016
by Chris Waltzek
GoldSeek Radio
Bob Hoye, senior investment strategist at Institutional Advisors returns with comments on global equities indexes – policymakers are purportedly moving heaven and earth to prop up shares. Case in point, economic Emperor, Shinzo Abe’s regime is holding rates in negative territory, adding to the $13 trillions in total negative debt, worldwide, to the benefit of Nikkei shareholders. While most investors are familiar with the phrase, errare humanum est, to err / make mistakes is only human, the full phrase, errare humanum est, preserverare diabolicum, applies to CB policymakers, to err is human, but to persist in error, is diabolical. Consequently, negative rates is financial plutonium to the precious metals sector, as supported by Barsky and Summers (1988), via Gibson’s Paradox.
Gold Futures Gain Nearly 3% for the Month
Weak U.S. GDP data weighs on the dollar, boosts gold prices
by Myra P. Saefong and Mark DeCambre
Market Watch
Gold futures settled on Friday with a monthly gain of nearly 3%, after a report on U.S. economic growth came in weaker than expected, pushing the dollar lower and lifting prices for the precious metal higher to a three-week high.
Gold saw further support as many investors believe that the Federal Reserve lacks the confidence to lift rates too abruptly without further signs of strength in the U.S. economy.
December gold gained $16.30, or 1.2%, to settle at $1,357.50 an ounce. That was the highest finish since July 8 for gold futures.
For the week, gold futures ended roughly 2.6% higher, according to FactSet data. Based on the settlement of $1,320.60 for the most-active contract on June 30, prices saw monthly gain of 2.8%. The December contract was up 2.3% for the month. Prices have now posted gains for six out of the seven months so far this year.
Hillary: ‘I’m Not Here to Take Away Your Guns’ – But She Will
by Daily Bell Staff
The Daily Bell
Hillary Clinton at her DNC speech: “I’m not here to take away your guns” … Hillary Clinton wants you to know one thing about her position on gun control: “I’m not here to repeal the Second Amendment. I’m not here to take away your guns.” She elaborated further on her comments, which she made at her Democratic National Convention speech accepting the presidential nomination: “I just don’t want you to be shot by someone who shouldn’t have a gun in the first place.” – Vox
During her acceptance speech, see above, Hillary said she wasn’t going to take away guns in the US, but this is untrue.
She knows just how to do it.
First of all, she will make guns more expensive with new back ground checks.
Second, she will make guns manufacturers liable for selling guns that later are used in crimes.
US Dollar Slides Following GDP Report, Yen Up 3 Percent
by Mike ‘Mish’ Shedlock
Mish Talk
The US dollar index now down about 1%, recovering a bit of the initial plunge after the “unexpectedly” weak GDP report. Against the Yen, the dollar is doing much worse, down about three percent.
US Dollar Index Reaction to US GDP
[…]
US Dollar vs. Yen
[…]
Direction on the above chart is opposite the first. The Yen has strengthened about 3%. Some of that is due to a US GDP reaction, but the bulk of the move is on the heels of a market reaction to actions by the bank of Japan.
Let’s Not Do Ourselves Down – Britain is Roaring Ahead of the US and Europe
There’s a tendency to bemoan our own economic shortcomings while turning a blind eye to the errors of others
by Allister Heath
Telegraph.co.uk
Britain has always excelled at self-flagellation. Our economy certainly has many faults, and it is a sign of national self-confidence that we are so keen to discuss endlessly how to address them. But we are not the only ones to face immense challenges, and it is a bizarre legacy of the declinist 1970s that so many people in the UK are so willing to believe that other economies are doing better than our own.
Take the recent false narrative that the eurozone was undergoing a rebirth, fuelled in part by a temporary growth spike in the first quarter. The most recent second-quarter GDP figures shows it expanded by just 0.3pc in the second quarter, against 0.6pc for the UK.
Why Reuters is Tweaking Its Presidential Poll
from Zero Hedge
A 13-point lead for Hillary Clinton on July 14 has vanished in two weeks with Donald Trump now leading in the polls by 1 point. This is clearly unacceptable to the establishment and so Reuters/Ipsos is taking matters into its own hands… and ‘tweaking’ its polling methodology.
Trump has seena yuuge bounce since Comey and the convention as Clinton’s bounce was marginal…
[…] Something has to be done.. So Reuters “tweaked” their algos…
Central Bankers Are Driving Us All Into the Dirt
by Harry Dent
Economy and Markets Daily
One of the major triggers I’ve been warning about is already happening, even before we understand and/or admit that we are in a recession. Zero Hedge just picked up on an article from Jeff Cox at CNBC.
Global corporate debt now sits at a record $51 trillion and is poised to hit $75 trillion by 2020 – just four years away. If interest rates rise and the economy slows, it will be very hard for companies to roll these bonds over – and then we get what S&P Global Ratings is calling “Crexit.”
The bond markets dry up for corporate lending, especially higher-yield junk bonds. This would set off a chain of corporate defaults and bankruptcies that would cause central banks to start to lose control of the economy, as they did in 2008 forward.
The simplest depiction of where we’re at comes from the chart below:
Best Gold & Silver Forecasters Revise 2016 Targets Sharply Higher
by Adrian Ash
Financial Sense
Gold and silver prices rose against a falling US Dollar after the Bank of Japan announced smaller-than-expected policy stimulus Friday and more analysts revised their forecasts sharply higher following this year’s 26% and 45% gains to date.
Gold slipped versus the Euro and Yen, however, erasing the last of this month’s earlier gains to match Dollar and Sterling prices with no change for July – only the third month to miss a substantial rise in 2016 so far.
Major government bond yields eased lower as world stock markets flatlined.
More than $10 trillion of bonds issued by developed-world governments and corporations now offer new buyers an annual yield below zero, according to Reuters.
Blood Continues To Flow In The U.S. Oil Industry As Precious Metals Rally
by Steve St. Angelo
SRSRocco Report
The top three U.S. oil companies released their financials today and the results were completely horrible. Exxon Mobil was the only one of the three that still made a profit for the first half of the year, however it was down a stunning 62% compared to the same period last year.
Unfortunately, Chevron and ConocoPhillips results were much worse as they suffered a combined net income loss of $4.7 billion for the first half of 2016. We must remember, these are the major U.S. oil companies that are supposed to be highly profitable. I hear this all the time from politicians and folks who believe in lousy conspiracies.
If we take a look at the chart below, we can see how much blood is flowing in the top three U.S. oil companies:
The Fed is Preparing for Negative Rates – Here’s the Sign Everyone Missed
by John Mauldin
Mauldin Economics
I think it’s possible that the Fed will push rates below zero when the next recession arrives. I explained why a few months ago in my free weekly column, Thoughts from the Frontline, at Mauldin Economics.
In that regard, something important happened recently. And not many people noticed. I’ll do a quick review to explain.
In Congressional testimony last February, a member of Congress asked Janet Yellen if the Fed had legal authority to use negative interest rates. Her answer was this:
In the spirit of prudent planning we always try to look at what options we would have available to us, either if we needed to tighten policy more rapidly than we expect or the opposite. So we would take a look at [negative rates]. The legal issues I’m not prepared to tell you have been thoroughly examined at this point. I am not aware of anything that would prevent [the Fed from taking interest rates into negative territory]. But I am saying we have not fully investigated the legal issues.
Is Bank of Japan Signaling That It’s Running Out of Ammo
‘Comprehensive review’ could underline doubts about negative rates
by William Watts
Market Watch
The Bank of Japan on Friday disappointed investors by offering up a much smaller-than-expected round of additional stimulus while also announcing a review of its current policy measures, leading some observers to wonder whether policy makers fear they are running out of tools to stoke the Japanese economy.
“The message the BOJ is sending is not so much ‘whatever it takes’ as ‘monetary policy’s pretty much played out,’” said Kit Juckes, global macro strategist at Société Générale, in a note.
The Bank of Japan under Gov. Haruhiko Kuroda has been an aggressive buyers of bonds and equities. Its decision to implement negative rates earlier this year caught investors off-guard, but the move was seen backfiring as the Japanese yen failed to weaken.
WWIII, Clinton & The Deep State
by Chris Campbell
Laissez Faire Books
A video has surfaced of the recent — and barely reported — attack on northern Syria by U.S.-led forces which killed 73 civilians.
Twenty of the deaths were reportedly women and 35 of them were children.
It’s gruesome. But if you’re someone who can stomach the reality of the situation, take a look…
Top Advisor to Sovereign Wealth Funds Says Gold & Silver Headed Into the Stratosphere Along with the Shares
from King World News
With Wall Street having one of the strangest years in 2016, today a top advisor to the most prominent sovereign wealth funds, hedge funds, and institutional funds in the world, told King World News that gold and silver are headed into the stratosphere along with the mining shares.
But first, take a look at the extraordinary calls that Michael Belkin made in previous KWN interviews…
“Gold stocks will turn into the new ‘momentum class.’ It sounds almost hilarious to say that now because gold stocks are so depressed and they are so far from being momentum names, except for the one I recommended that is up 1,000%. But when nothings else is working for institutional investors, they will begin to flock into the thing that is working, and I think that will be gold and gold stocks.” — Michael Belkin, October 10, 2015