by David Kranzler
Investment Research Dynamics
That [the unchecked market intervention by the Fed] will never change, Bill. Here’s what will happen: 99.5% of the public will NEVER believe that gold is the solution and they don’t even care if it’s manipulated. But when the point in time occurs when it becomes obvious to most that they have to have gold to stay afloat, it will be too late. There will be LOOONG lines around the block at coin shops. People in the front of the line will be able to sell some of their gold and silver to people in the back of the line for DOUBLE the price they just paid. It will be similar to the Weimar Republic when someone would order a cup of coffee, drink it, order another one and the 2nd cup was twice as expensive as the first. That day may not be far off. – my email exchange with Bill “Midas” Murphy of Lemetropole Cafe
If it’s not obvious to anyone by now, then those “anyone’s” are not following the news. All private-sector sourced economic data is showing an economic collapse in progress. The exiting home sales data is not private – it’s quasi-Government because the statistical seasonal “adjustments” programs used by the National Association of Realtors is the same algorithm used by Government statistical magicians.
A reader, David B, has suggested that I remind you all of the big cup and handle of 2010, with its subsequent breakout run higher in 2011. The bottom of the first big retracement was on the August 2010 gold option expiration on the Comex.
With continued consolidation in the gold and silver markets, below is an extremely important update on the gold market that was recently issued by SentimenTrader. There is also a note about the human workforce being by replaced by robots in China.
One of the nation’s largest multi-employer pension funds said that it is out of ideas for ways to save itself from an impending failure.
What’s it like to be a middle-class American?
The corporate bond market is a $6 trillion time bomb waiting to go off.
We continue to report on important mainstream investors, professional and private, who have warned about an impending, global financial catastrophe. Now, add Japanese Prime Minister Shinzo Abe to that list.
I was on the phone the other day with a friend, who is also my accountant. We’ve been friends going on 30 years. Once in a while our discussions will veer off into what is commonly known as “shop talk” where we find we’ve suddenly gone from “just gabbing” to a multi-hour intense conversation about markets, the economy, and more. This past one was a little more of “the exception” rather than just the average swing into the generic.
In his op-ed in The Washington Post, Chris Grayling, leader of the House of Commons, made the case for British withdrawal from the European Union — in terms Americans can understand.
“I did not have sexual relations with that woman.”
Home buyers in April paid the lowest interest rates ever on their mortgages, according to the Bank of England.
The silver price is set to surge 800% or “ninefold” in the coming years due to global industrial and technological demand, the “gadget boom” and tight supplies according to a leading mining executive, of First Majestic Silver Corporation.
LONDON (MarketWatch) — The hedge funds will have prepped their positions. The investment banks will have ordered in pizza and extra coffee ready for a long night of dealing. Exit polls will have been commissioned, and currency traders will be ready to buy or sell sterling GBPEUR, -0.9223% as soon as they start getting a clear idea of whether Britain has voted to stay in or get out of the European Union on June 23.