Organizers plan to make July 4th one of the biggest protest days so far, and law enforcement authorities all over the nation are bracing for… by Michael Snyder of The […]
The post Massive Protests To Rock Our Cities July 4th, Penumbral Lunar Eclipse To Be Visible Above U.S. appeared first on Silver Doctors.
The month of June presented a very clear “high price peak” that suggests the US stock markets may have established a “recovery price high”… by Chris Vermeulen of The Technical […]
The post WILD VOLATILITY CONTINUES AS US MARKETS ATTEMPT TO ESTABLISH NEW TREND appeared first on Silver Doctors.
INDIA WATCH
Reuters/Rajendra Jadhav/7-1-2020
“Gold prices in India hit an all-time high on Wednesday, tracking a global rally, as surging coronavirus cases in many countries raised the metal’s safe-haven appeal. Local gold futures hit an all-time high of 48,871 rupees ($646.66) per 10 grams in early trade, taking their gains to 25% in 2020 so far. The contract had gained nearly 25% in 2019.”
USAGOLD note: We can remember when the prevailing mainstream media opinion in India was that the population’s zest for gold would be dampened by weak economic conditions and it price would go into decline. We argued (for the benefit of our many site visitors from India) that if the currency continued to decline gold would continue to rise, as the Indian people would move to protect their wealth. Here we are at all-time highs in rupee terms.
Chart courtesy of TradingView.com
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Economic Times/Ritesh Jain
“It’s something which has not happened in history. A stunning 2.8 million oz of gold was marked for delivery in last month’s contract equating 88 tonnes worth $4-5 billion. Somebody is really taking a big call that the US dollar will be devalued significantly.”
USAGOLD note: Physical metal is in demand and Comex is simply a source – like other sources. Consider for a moment the spectacularly large amount of created capital now seeking a safe place to wait out the crisis and you will begin to understand the strain on physical supplies at current prices.
Repost from 6-29-2020
Financial Times/John Plender/7-1-2020
“A less innocent — but all too plausible — alternative reading is that investors now believe central banks will exercise complete control over asset prices for the foreseeable future. In other words, the categorical imperative of policymakers doing ‘whatever it takes’ to counter the current crisis could ensure a lasting decoupling of equity prices from ailing economies.
USAGOLD note: Plender thoughtfully lays out the possible scenarios if and when the Fed moves to yield control Including those he describes as “morally hazardous.” The short answer to FT’s headline question? Helicopter money and its economic cousin, MMT, come to mind.
Mises Institute/Jeff Deist
“But let’s not kid ourselves: the US federal government already finances its operations, at least in part, using conjured money. 2020 federal spending may exceed $8 trillion as Congress and the Trump administration blow the roof off the authorized $5 trillion budget with COVID relief bills. More than half of that amount, maybe as much as $4 trillion, will be ‘deficit financed’ – a nice way of saying not financed by tax revenue. This is a first in American history, to put it mildly.”
USAGOLD note: In case you did not pick up on it, that $4 trillion figure represents one-half of government spending and most of that will be financed by the Federal Reserve through the auspices of its mighty money printing press. MMT would allow a massive increase in the deficit and unlimited money-printing to cover it with a healthy dose of moral hazard thrown in for good measure.
Repost from 6-29-2020
