from King World News
With the countdown to silver breaking out of a multi-decade cup and handle formation winding down, is it possible silver is headed to $700 after the $50 all-time high is surpassed?
A Silver Stacker’s Dream
February 7 (King World News) – DowGoldEquals1: Silver: A break out of the pink bull flag and yellow descending channel will activate a potential impulse move to the all-time high around $50. A confirmed breakout above $50 sets a cup & handle upside target of around $700.
by Michael Snyder
End of the American Dream
If people that lived 50 or 60 years ago could see us today, what would they think of our culture? I believe that the performance of “Unholy” at the Grammy Awards on Sunday night will go down in history as a pivotal cultural moment. Yes, the “horror movie-inspired performance” that Sam Smith and Kim Petras came up with was designed to get as much attention as possible. They wanted people like me to write about it, and that is exactly what I am doing. But just because they were seeking attention does not change the fact that their performance was unspeakably evil. And it also does not change the fact that millions of their fans absolutely adored it. We have gotten to a point where our culture openly celebrates wickedness, and that is a very dangerous place to be.
from Daily Market Wisdom with Nick Santiago
For more than 20 years, Master Trader Nick Santiago has been beating the markets. He’s made some incredible calls along the way and now he’s looking to spread the word. There’s no reason that the average trader should be coming up short. So now we’ve started a daily show to bring you up to date on the latest market developments. Nick will be sharing trades and concepts and discussing current trends.
Today:
1. Markets are pulling back today. The decline comes after this Friday’s job report was released. The number was very hot with 517K new jobs announced. This hot number has investors thinking that the Fed needs to continue raising rates. In fact, yields have jumped higher on Friday and again are higher today. Obviously, the markets was pricing in a dowvish fed and that could be off the table now.
2. Today, most sectpors are weak with the exception of the defense contractors such as Lockheed Martin (LMT), Nortrop Grumman (NOC) and Ratheon (RTX). These stocks obviously benefit from the escalation in Russia and Ukraine. You also have chatter that the US will possible try and take some type of action against China for the spy balloon incident, so that has a bid in these stocks today.
3. Gold is ticking up a little today, but it was slammed last Thursday and Friday. I’m still in the camp that gold needs to retreat further along with silver in the near term.
4. Bitcoin is also retreating today after its recent monster run.
Click Here to Listen to the Audio
Sign up (on the right side) for the free weekly newsletter.
from Kerry Lutz's Financial Survival Network
Metals prices are getting slammed, sending gold and silver down. Andy Schectman comes on the show to talk about the circumstances of precious metals which, while frustrating, do not discredit the value of these assets during this time. Volatile conditions and the possibility of the London Metals Exchange running out of silver in 2023 speak to the fragility of the system. Gold and silver are not commodities; rather, they are the barometer for the health of the dollar and the US economy. Furthermore, Andy emphasizes that the valuation of gold and silver are not subject to counterpart liability, which will make the precious metals even more attractive as the effects of interest rate hikes sink in. Tune in for more expert insight.
Click Here to Listen to the Audio
Sign up (on the right side) for the free weekly newsletter.
by Charles Hugh Smith
Of Two Minds
What’s truly valuable has no price and cannot be bought.
If all investments are being cast into Treacherous Waters, our investment strategy must adapt accordingly. Once we set aside denial and magical thinking as strategies and accept that we’re in treacherous waters, a prudent starting point is to discern the most consequential contexts of all decisions about where and how we invest our time, energy and capital.
The most consequential global context is to first and foremost “invest in yourself”: invest in forms of capital that cannot lose value (for example, integrity, skills and experience) and assets that are not dependent on fluctuations in valuations for their utility. This is the essence of Self-Reliance.
For example, tools retain their utility regardless of their current market value, and so does a house as shelter and yard to grow food. Whether the value drops to $1,000 or soars to $1 million, the property provides the same utility of shelter and sustenance.
by David Stockman
LewRockwell.com
The Fed holds interest rates to be its primary control valve, with lower ones providing a stimulus to the GDP and higher ones a brake. Self-evidently, therefore, interest rates below the inflation level are a stimulus because they amount to economic subsidization of debt, and the spending or investment which results.
Still, even the primitive Phillips Curve theory of the growth/inflation trade-offs screams out that the Fed is way behind the curve, even based on its own defective economic models. After all, why in the world has it permitted its ultimate control valve and benchmark—the 10-year UST—to carry a negative real yield for 36 of the last 38 months.
That’s right. There is nothing like the pattern shown below in modern history, yet somehow the Keynesian dunderheads domiciled in the Eccles Building have been surprised at the virulence and persistence of the current inflationary tide.
How an elite London night club fell under the control of an intelligence-linked sex blackmail agent, self-described satanist and antique dealer named Horace Dibben.
by Johnny Vedmore
Unlimited Hangout
The peculiar and fascinating Horace “Hod” Dibben took over Esmeralda’s Barn within a year of Esmeralda Gullan’s tragic death. Hod’s supposed ward, Patsy Morgan Dibben, was then put in charge of the club and the Barn then became the centre of intelligence-led spy-games, gangland infiltration and an elite sex blackmail operation. Soon Patsy Morgan-Dibben would go missing, reportedly taken by the devil himself. Let’s take a look at the mad world of satanic super-spy Hod Dibben.
Patsy Morgan was a simple grocer’s daughter from Southampton, England. However, some time between the age of twelve and sixteen-years-old, she became the legal ward of a very strange and perverted individual. The evidence reveals that Patsy was groomed by a former-RAF squadron leader who later claimed to have also been a high level Satanist within a “black magic circle” based in the UK. She soon-after changed her name to Patsy Morgan-Dibben once she had become her legal guardian.
from Armstrong Economics
Biden – His Creative Destruction of America
Trusted News Initiative – Mainstream Monopoly for Fake News
Zelensky & a $35 Million Estate in Florida?
Ukraine will Used the Weapons to Attack Moscow – They Lied
COVID & The Vacation like a Cruise
China’s Balloon is all Posturing
by Wolf Richter
Wolf Street
Cutting construction costs by “aggressively rebidding” projects, and “walking away” from land deals: executives in their own words.
Meritage Homes, which specializes in building entry-level houses, reported Q4 earnings on Thursday. In terms of revenues and income, they’ve been working through their backlog.
But sales order volume collapsed by 46% in Q4 year-over-year, to just 1,808 houses. Sales order volume in terms of dollars collapsed by 52%, to $704 million.
Orders got hammered by “weaker overall demand,” they said during the conference call, and because customers cancelled 39% of their contracts, up from a cancellation rate of 12% in Q4 2021.
by Alasdair MacLeod
Gold Money
After trading sideways until Wednesday, gold broke out above its recent consolidation level following the Fed’s 0.25% rate increase on Wednesday. And yesterday morning, gold rose briefly to $1959.7 before falling back to $1911. In European morning trade, it was at $1910, down $17 from last Friday’s close, and silver was $23.42, down 15 cents on the same timescale.
The Fed raised its funds rate by 0.25% on Wednesday to 4.5% to 4.75%. The move was widely expected, but the market initially interpreted the accompanying commentary as dovish, which knocked the dollar’s trade weighted index below 102. This is next.
by Simon Black
Sovereign Man
Gold is really an amazing metal when you think about it.
It doesn’t corrode. Coins buried underground or sunk at the bottom of the ocean for hundreds of years are routinely pulled up and brushed off, and they’re good as new.
This strength and durability is precisely what makes gold so interesting as an inflation hedge.
It undoubtedly takes a lot of work to produce a gold coin or bar– so much labor, energy, technology, etc.
A gold coin essentially represents all of the work… all of the effort and labor… that went into producing it.
by Pam Martens and Russ Martens
Wall Street on Parade
Charlie Munger is the 99-year old billionaire who graduated magna cum laude from Harvard Law and has been the close business partner of legendary investor, Warren Buffett, at Berkshire Hathaway for more than four decades.
For years now, both Munger and Buffett have been outspoken about the dangerous scam called cryptocurrencies. Yesterday, the Wall Street Journal gave Munger space for a 393-word OpEd in which he urges the U.S. to ban crypto as China has done (and a lot of other countries). Unfortunately, those 393 words are competing with years of a nonstop barrage of hyped promises from right-wing Republicans in Congress who are happy to take big political donations from the crypto cabal; big public relations and marketing firms padding their bottom lines with what effectively amounts to money from defrauded crypto customers; K-Street lobbyists also on the dole to crypto firms; celebrities whoring on television for crypto; and, worst of all, Big Law firms attempting to legitimize myriad crypto frauds as “innovation” in order to compete for billable hours.
by James Howard Kunstler
Kunstler.com
“The White House has taken the entire West in such a direction and speed of triumphalism, arrogance and “egregious” imbecility that there is no going back or reversal possible without a total defeat of the official narrative and the consequent eternal shame.” — Hugo Dionisio
The New York Times — indicted this week as a chronic purveyer of untruths by no less than their supposed ally, The Columbia Journalism Review — is lying to you again this morning.
[…] This whopper is an artful diversion from the reality on-the-ground that Ukraine is just about finished in this tragic and idiotic conflict staged by the geniuses behind their play-thing President “Joe Biden.” By the way, it’s not a coincidence that Ukraine and “JB” are going down at the same time. The two organisms are symbionts: a matched pair of mutual parasites feeding off each other, swapping each other’s toxic exudations, and growing delirious on their glide path to a late winter crash.
by Craig Hemke
Sprott Money
Precious metals have had quite a run since November, but has the uptrend come to an end? Host Craig Hemke and analyst Chris Vermeulen of the Technical Traders break down all the charts you need to be ready to answer when opportunity knocks.
In this edition of the Precious Metals Projections, you’ll hear:
– How the stock market currently stacks up to precious metals
– What’s “driving the machine” right now
– Plus: what might upset the apple cart
by Michael Snyder
The Economic Collapse Blog
I can’t take it anymore. Fake numbers that are released by the government get turned into fake news by the corporate media, and many Americans don’t even realize that they are being conned. Major news outlets all over the country are breathlessly trumpeting the “blockbuster jobs report” as if it is a sign from heaven that good economic times are ahead. We are being told that the U.S. economy added 517,000 jobs last month, but that isn’t true. Sadly, the truth is that the U.S. economy actually lost 2.5 million jobs in January. Yes, you read that correctly. So how in the world does a loss of 2.5 million jobs become a “gain” of 517,000 jobs? Every month, government bureaucrats apply “adjustments” to the numbers that they believe are appropriate, and at this point their “adjustments” have become so absurd that they have turned the monthly employment report into a total farce.
It was a blunder. Worse than that, it was a crime.
by Brian Doherty
Reason.com
On March 20, 2003, what was officially one of America’s shorter wars began with an airstrike on Saddam Hussein’s presidential palace in Baghdad. U.S. armed forces, 160,000 strong, moved out of Kuwait and across Iraq, and after overcoming a few small roadblocks along the way took the capital city within three weeks. On May 1, President George W. Bush declared victory from the deck of the USS Abraham Lincoln, off the coast of San Diego. With combat over, “our coalition is engaged in securing and reconstructing that country,” Bush said. “In this battle, we have fought for the cause of liberty, and for the peace of the world.”
As it turned out, neither the U.S. military mission nor the broader cause of liberty and peace were accomplished by May 2003, nor were they in the months and years to follow. What the Bush administration sold as a grim but necessary surgical strike for democracy and stability in the Middle East and the world has been revealed over the past two decades as one of the most grievous errors in superpower history.
by Clarice Feldman
American Thinker
There are sites which regularly publish President Biden’s verbal gaffes. When he’s not hiding in his basement these perilous days, those gaffes are one of the few things you can reliably count on.
Townhall.com published one Biden flub this week that is among my favorites.
BIDEN: “More than half the women in my administration are women.”
If you doubt the accuracy of this there’s a video they’ve published which captured it.
Now that I think of it, given the way that Biden staffed his administration, perhaps this wasn’t a gaffe, but a rare moment of honesty from someone so consistently dissembling over many years that he makes Congressman George Santos look like an amateur.