Gold News Today

AdvisorPerspectives/Jon Hussman-Hussman Funds/5-19-2020

“Market lows associated with U.S. recessions have generally occurred at valuations that were about 40% of those prevailing today – and sometimes even less. If investors assume that valuations will never again approach historical norms, they must also accept that future investment returns will be dismal compared to historical norms. To say that ‘low interest rates justify high valuations in stocks’ is also to say ‘low interest rates justify low future returns in stocks.’ If one wishes to protect overvalued prices, one also has to accept meager long-term returns.”

USAGOLD note:  A lot of sound thinking in a short space plainly spoken … “[T]he Federal Reserve,” says Hussman, “has performed an amygdalotomy on the investing public.” An amygdalotomy is a surgical procedure to disconnect the area of the brain that produces “the ability to detect, observe, and immediately respond to the fear.” Oblivious, all’s well for Humpty sitting on his wall …… This piece is highly recommended reading.

MarketWatch/Mark Hulbert/5-19-2020

“In fact, some brokers are now enticing investors with visions of another bull market run like the one that began in March 2009, the longest in U.S. market history. Those visions may come to pass, but you’re in for a long wait. In fact, only if you’re willing not to touch your money for 10 years — until 2030 — should you even think of putting new money into the stock market right now.”

USAGOLD note:  Not a market for short-term traders, says Hulbert.

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CBS News 60 Minutes/Scott Pelley interview of Jerome Powell

“Scott Pelley: Where does it come from? Do you just print it?

Jerome Powell: We print it digitally. So we – you know, we – as a central bank, we have the ability to create money digitally and we do that by buying Treasury Bills or bonds or other government guaranteed securities. And that actually increases the money supply. We also print actual currency and we distribute that through the Federal Reserve banks.”

USAGOLD note: And that is why investors buy it [gold] physically – in the form of coins and bullion.

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Repost from 5-18-2020

Bloomberg/Nick Wadhams

“Hopes that nations might momentarily set aside their differences to combat the coronavirus have largely evaporated. ‘This pandemic is about as close to an asteroid hitting the earth as you can imagine in terms of a common threat,’ said Richard Fontaine, chief executive officer at the Center for a New American Security in Washington.”

USAGOLD note:  Not just the pandemic. It’s an election year ……

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Repost from 5-18-2020

Can Sixty North Gold Mining (CSE:SXTY) Afford To Invest In Growth?  Yahoo Finance UK

Gold Stocks Ride Gold Prices Sharply Higher As Coronavirus Fuels Barrick Gold Stock, Kinross, Kirkland Lake  Investor’s Business Daily

Gold, silver, miners teater on the brink of a breakout  Kitco NEWS

Clean Water Act Enforcement: Washington State Attorney General Files Judicial Action Against Gold Mining Facility for Alleged Violations  JD Supra