from Zero Hedge
Those hoping that some dramatic change in UK public sentiment as manifested through polling for or against Brexit would emerge in the aftermath of Jo Cox’ killing, will be disappointed. As the two most recent polls, one from YouGov/ITV and another from Survation, show opinions remains split right down the middle even as the first unofficial poll by Qriously showed a substantial drop in support for remain:
by Dan Norcini
Trader Dan
Mile Gleason over at Moneymetals.com has interviewed me to get my thoughts on the current happenings in the market.
If you check out this link, you can find the Podcast on the right side, about half way down the webpage.
This interview was done yesterday afternoon so we were able to discuss some the reasons behind the move lower in gold and the action across some of the currency markets.
by Wolf Richter
Wolf Street
The NIRP Rout
In Japan, the Eurozone, Denmark, Sweden, and Switzerland, where central banks, in their infinite wisdom, have imposed negative interest rates supplemented with harebrained bond-buying schemes, bond prices have soared to where many government bonds and even some corporate bonds are trading with negative yields. Given this amount of liquidity and the free-for-all in corporate borrowing, stock markets in those countries should be booming, which had been part of the plan.
from King World News
On the heels of continued volatility in the 2016 trading year, today the man who has become legendary for his predictions on QE, historic moves in currencies, and major global events, laid out the jaw-dropping road to $10,000 gold and $500 silver.
Egon von Greyerz: “Between 1999, when gold bottomed at $250, and the 2011 peak at $1,920, there was only one major correction lasting 8 months in 2008. The ensuing correction from the 2011 top at $1,920 of almost $900 seemed to take an eternity until it finally finished in December 2015. During those four years it was always clear to me that the uptrend in the precious metals was still intact, although I must admit that I did not expect a correction of that duration. But after a long life in markets, patience becomes a virtue that is absolutely essential…
by Pater Tenebrarum
Acting Man
Hollande Threatens to Ban Protests
Brexit has diverted attention from another little drama playing out in Europe. As of the time of writing, if you Google “Hollande threatens to ban protests” or variations thereof, you will find Russian, South African and even Iranian press reports on the topic. Otherwise, it’s basically crickets (sole exception: Politico). Gee, we wonder why?
[…] Given that France is under a “state of emergency” since last year’s terror attacks in Paris, it is presumably easy for Hollande to ban demonstrations by decree, from a legal perspective at least. It seems unlikely though that a ban would actually stop the protesters. What is Hollande going to do if they just continue to strike and hold demonstrations? Invade France? Arrest hundreds of thousands of people?
Russia is ready for one. But are we?
by Adam Taggart
Chris Martenson’s Peak Prosperity
Following his cautionary analysis on the increasing tension between the US/NATO and Russia, Chris interview Dmitry Orlov this week about the potential likelihood for actual direct conflict to break out between the world powers.
Orlov was born and raised in Leningrad in the former Soviet Union and immigrated to the United States in the mid 70s, He has spent the past several decades traveling back and forth between the two countries, writing about the collapse of the Soviet Union and the many similarities he sees between that and the secular decline happening in the West. Orlov recently co-authored a stark warning with a number of other experts on Russia, concerned that the US is recklessly provoking a military confrontation it cannot win:
The United States is sleepwalking towards a nuclear confrontation with Russia. It is astounding in its stupidity this approach. What’s going on is an effort by the US military and by NATO officials to extract as much money as possible out of Eastern Europe, to continue financing weapons and generally extract military spending out of Europe.
High-exposure U.K. stocks have outperformed S&P 500 recently
by Wallace Witkowski
Market Watch
Shares of U.S. companies with a higher-than-average reliance on British sales could face a rude awakening should the U.K. vote to exit the European Union on Thursday.
Stocks finished the week lower on so-called Brexit worries and in the wake of a June Federal Reserve policy meeting that underscored a slower approach to rate increases given shaky economic growth. The Dow Jones Industrial Average DJIA, -0.33% declined 1.1% for the week, while the S&P 500 index SPX, -0.33% shed 1.2%, and the Nasdaq Composite Index COMP, -0.92% fell 1.9%. Both the S&P 500 and Nasdaq logged a second week of losses.
Another earnings season is less than a month off, with a few S&P 500 outliers still scheduled to report results and Nike Inc.’s NKE, +0.45% earnings the following week. With an already dismal four quarters of profit declines on the books, the possibility of the U.K. leaving the EU adds to the earnings struggles of U.S. companies. After China, international revenue across the S&P 500 is most exposed to the U.K.
by Hubert Moolman
Silver Seek
Silver Price Forecast: The Dow/Silver Ratio Signals All-Time High Silver Prices
I have written extensively about the relationship between the Dow and silver prices. One of the points I have emphasized, is the fact that Dow peaks are often followed by silver rallies.
Given the above, its natural that the Dow/Silver ratio is also an important indicator for future silver prices. One example of this, I deal with in my silver fractal analysis report:
by Clive Maund
Gold Seek
While the long-term outlook for gold could hardly be better, the short to medium-term outlook deteriorated substantially last week, with an important chart reversal on Thursday that was not negated by Friday’s bounceback, latest COTs coming in very bearish with record readings, and the $5,000 an ounce gold crowd hawking their wares more aggressively than ever – it’s not they are necessarily wrong, it’s just that they are naturally most vocal at tops, when they can suck in the most hopefuls.
As you may know, we have not been raving bullish on gold in recent months, largely because of the offputting COT structure, and this was not an unreasonable stance given that gold has only risen by about $20 from its early March highs as we can see on its latest 6-month chart below.
from Casey Research
Editor’s note: It’s the No. 1 wealth-building commandment…yet most people don’t follow—or even understand—this simple principal.
Our good friend Mark Ford has followed this rule consistently since the early 1980s…and since then he hasn’t experienced a single day of feeling poorer than he did the day before.
Below, in one of Mark’s most popular essays, he explains how you can also achieve this goal.
Business chief for and against EU membership are planning to speak out
by Ben Martin, Tim Wallace, and Alan Tovey
Telegraph.co.uk
Company bosses campaigning on both sides of the European Union referendum are preparing to speak out and mount last-ditch efforts to sway Britons before the vote.
Among them is Sir Richard Branson, the pro-EU Virgin billionaire, who is today launching his own campaign keep Britain in Europe by warning that he is “deeply concerned about the impact of leaving”.
His intervention is the first in what is likely to be a series of pleas by business leaders – for and against EU membership – to voters before ballot boxes open on Thursday.
It is thought that a host of FTSE 100 chief executives and chairmen are putting their name to a letter encouraging the UK to stay in the EU, which could be published today.
by Michael Snyder
The Economic Collapse Blog
If you think that Donald Trump already has the Republican nomination locked up, then you don’t understand what is going on behind the scenes. It has long been my contention that the elite will move heaven and earth in order to keep Trump from ever setting foot in the Oval Office. One way that they could try to do this is by attempting to deny him the nomination at the Republican convention next month. Over the past couple of days, the Washington Post, CNN and a whole host of other mainstream news outlets have been reporting on a new “last-ditch effort” that has been launched by Republican operatives to get the Republican convention Rules Committee to unbind all of the delegates and allow them to vote however they want. As you will see below, they can do this, and if they get enough votes they will do it.
by Steve St. Angelo
SRSRocco Report
Last month a new company announced that it would produce a vehicle that would totally revolutionize the U.S. transportation industry. It was Nikola Motors located in Salt Lake City, Utah. Not only does the company plan on producing the vehicle in large numbers, it has already pre-sold $2.3 billion of the units.
The sleek aerodynamic semi-tractor called the Nikola One, is a hybrid gas-electric truck that will get 2-3 times the MPG (miles per gallon) compared to a typical diesel engine semi which accounts for 95%+ of the U.S. trucking fleet.
Here are some comparisons between the Nikola One Electric semi-truck and its diesel engine counterpart:
from King World News
With gold and silver surging on Friday, and the West’s desperate and massive money printing schemes as a backdrop, China is not only hoarding thousands of tonnes of gold, China is also now stockpiling massive amounts of silver.
“A military operation involves deception. Even though you are competent, appear to be incompetent. Though effective, appear to be ineffective…A military operation has no standard form – it goes by way of deception.” — “The Art of War” circa about 500 B.C., translation by Thomas Cleary.
(King World News) Stephen Leeb: “The Art of War, putatively authored by Sun Tzu, is known to be a guide for Chinese leaders in any sort of contest from military warfare to what will define hegemony in this century: fights over resources. How well is China doing in following the precepts of deception?
by Richard (Rick) Mills
Ahead of the Herd
As a general rule, the most successful man in life is the man who has the best information
In the time of the ancient Babylonians – long before the periodic table – there were seven sacred metals: gold, silver, copper, iron, tin, lead and mercury.
In Roman and Greek Mythology, the First Age was called Golden, the Second Age Silver. Apollo, the god of truth and light, and teacher of medicine, carried a silver bow.
The hieroglyph of Isis (Egyptian moon goddess) is a crescent and images of her are usually reproduced with her standing on the Crescent. This has also become the symbol for silver – on old maps a crescent shows the location of a silver mine.
from FutureMoneyTrends
Doug Casey, the legendary Speculator is here to talk gold after we saw the break to $1,300 and the FED failing to raise interest rates in June. This is the top guy to learn from in investing in mining shares and getting 10 to 100 times your money back on gold!
Read more about Brazil Resources (BRI.V): FutureMoneyTrends.com/GoldStock
Topics in This Interview:
1:35 – Gold to $3,000 by 2017; Doug’s Rally Prediction
2:00 – Worldwide Monetary Crisis of Historic Proportions
3:40 – Invest in Mining Stocks & get 10 or 100x Your Return in Gold
5:00 – Doug’s Top High Profit Gold Stock: BRI.v (Brazil Resources)
7:50 – Doug’s Upcoming Book & Series ‘Speculator’
8:35 – 2016 Election: Whoever Wins is Doomed to a Collapsing Economy
by James Dale Davidson
The Sovereign Investor
“When it becomes serious, you have to lie.” — Jean-Claude Junker, President of the European Commission.
Normally, I would not bring a European politician into a discussion about the U.S. economy. But in this case, European Commission President Jean-Claude Junker has “let the cat out of the bag.” In an unguarded moment, Junker let slip the working principle that guides politicians everywhere.
Think about it.
Is there any more serious issue for U.S. politicians than convincing you to give them your vote? You know that most voters in our intervention-addicted world credit politicians for prosperity they enjoy during their time in power. Just as primitive tribes credit the local chief or high priest for prosperity — or blame his sins when bad weather or pestilence make living conditions difficult.
by Mises Institute
Mises.org
Last weekend’s horrific terrorist attack in Orlando dominated the headlines this week, another example of how government can’t be trusted to keep us safe. Predictably, politicians shamelessly jumped on the tragedy to try to curtail gun rights, ignoring the fact that homicides are at a 51-year low.
Meanwhile, the Federal Reserve shocked no one by backing off prior pledges to raise interest rates. In spite of recent attempts to paint a rosy economic picture, the Fed was forced to admit the jobs data is worsening and sees no way to raise rates without tanking the economy. Meanwhile, in light of next week’s Brexit vote, the Bank of England is trying to scare voters away from leaving the un-European EU.