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The Mexican Congress Debates the Monetization of the ‘Libertad‘ Silver Ounce

On September 13th I participated in the Forum for “The Promotion of Savings by Mexicans” organized by the group “Legislators in Favor of Savings by the People” who are members of the Chamber of Deputies (i.e. “Congressmen”) in the Mexican Federal Congress; the group is led by Congressman Francisco Javier Pinto. The fact that this meeting took place at the seat of one the Legislative Houses of the Mexican Republic is extraordinary news, because there are few things so important for the development of the national economy and the economy of Mexican families, as savings.

According to the poll taken by the “National Poll Regarding Financial Participation in 2015”, 32% of the population saves informally, that is to say, by “stuffing money under the mattress” and other invented measures, and only 15% saves in a formal manner, for example, by depositing money in a bank account, or by purchasing Government Treasury Certificates (“CETES”) or by voluntary contributions to their official retirement account (“AFORES”). Continue reading

Less than 20% of Americans say they’re living the American Dream

“The American Dream has become a nightmare…” ~ Singer/song-writer, Steve Vaus

A home in Luxemburg, Wisconsin

Fewer than one in five Americans feel like they’re living the American Dream, according to Hearth Insights’ 2017 State of the American Dream report, which surveyed 2,000 people.

That dream is “a complex concept that involves a variety of factors,” Anthony Ghosn, Hearth’s chief executive officer, tells CNBC Make It, but says homeownership is the “most important element.” Hearth helps Americans finance renovations.

Almost 40 percent of Americans do not own homes, according to the U.S. Census Bureau. Ghosn says nearly 50 percent of millennials rent. Continue reading

Ex-UBS Trader Accused by U.S. of Manipulating Metals Prices

A former trader at UBS Group AG was charged with conspiracy and fraud over his suspected role in manipulating the price of precious metals.

Andre Flotron, who worked at the bank in Switzerland and Stamford, Connecticut, is the second person publicly charged in the U.S. investigation into the fixing of gold, silver, platinum and palladium prices. Flotron, a Swiss citizen, was arrested while visiting his girlfriend in New Jersey. He was charged with conspiracy, wire fraud, commodities fraud and spoofing. He faces as many as 25 years in prison on the most serious charge. Continue reading

Cryptocurrency house of cards collapse accelerates…

Five new Health Ranger podcasts school the deluded in economic reality

The Bitcoin house of cards continues to collapse at an accelerating rate, now plunging from nearly $5000 to about $3200, wiping out more than $23 billion in “assets” that foolish people deluded themselves into thinking was real.

As explained on Zero Hedge via iBankCoin.com (which has been zealously pro-Bitcoin, for the most part):

Let’s review the extent of the carnage inside of the dark, cavernous catacombs of the ICO world — a place where outright scam artists get rich by tricking people into believing their ‘coin’ will make them rich. This has never been about preserving value, supplanting fiat, but promoting a bubble that is backed by venture capitalists. Continue reading

What is the Spot Gold Price?

When trading gold bullion, the price is usually governed by the “Spot Gold Price. This is the explicit value at which an ounce of gold is selling for on the “over the counter” market at any given point in time.

Just like shares, the gold spot price changes minute-to-minute, hour-to-hour as supply and demand fluctuate. The gold spot price, also known as the “gold current price” can be affected by other influences, such as economic uncertainty, war or any other factor which encourages investors to convert their funds into physical commodities. Continue reading

Kunstler: In the Dark

The stock market is zooming this morning (9/11/17) on the news that only 5.7 million people in Florida will have to do without air conditioning, hot showers, and Keurig mochachinos at dawn’s early light Monday, Sept 11, 2017. I’m mindful that the news cycle right after a hurricane goes kind of blank for a day or more as dazed and confused citizens venture out to assess the damage. For now, there is very little hard information on the Web waves. Does Key West still exist? Hard to tell. We’ll know more this evening.

The one-two punch of Harvey and Irma did afford the folks-in-charge of the nation’s affairs a sly opportunity to get rid of that annoying debt ceiling problem. This is the law that established a limit on how much debt the Federal Reserve could “buy” from the national government. Some of you may be thinking: buy debt? Why would anybody want to buy somebody’s debt? Well, you see, this is securitized debt, i.e. bonds issued by the US Treasury, which pay interest, and so there is the incentive to buy it. Anyway, there used to — back in the days when the real interest rate stayed positive after deducting the percent of running inflation. This is where the situation gets interesting. Continue reading

Gold And The Coming Collapse: Are We Close To A Major Monetary Event?

It really should be clear that a major international banking crisis is inevitable, and likely to occur fairly soon. Due to the extreme debt levels, many banks are close to that point of failure.

An event like a stock market crash is likely to push many banks to that point of failure, since the pressure it would create (on cash resources), would expose their inability to fulfill their obligations.

Cash (not bank credits/digits) is still the means by which banks have to settle liabilities and obligations (especially amongst each other). If a bank goes down, it will be due to the lack of cash (not bank credits/digits). It is for this reason that there is a campaign to ban cash (for the general public) or limit the use of it.

The banks are in competition for the available cash resources, and they do not want you to be an obstacle. This is similar to what happened during the Great Depression (1933) when gold was confiscated. Then, banks proved their solvency with gold; therefore, the general public was prevented from competing for the limited amount of gold resources. Continue reading

Gold is about understanding the events that got us here and how they will unfold

“BEWARE of a broker with a silver tongue!” ~ Jeffrey Bennett, Publisher

Brokers and traders will show you, “turn your gold into wealth”, “put it to productive use, Trade It”! “Sell your gold and buy it again, many times”. “Do this and find the value lost from your youth”!

But I say, spend your time in the company of truly wealthy ones, see how they make gold lie very still! Know this now, the world will again, in your time, feel value in gold as never before. And that value will be as the “productive use of holding wealth thru the fire of change”. “Yes, you can also walk in the footsteps of giants”.

“The economic game is ending! Watch closely as the world currencies and markets fall one by one. Watch in absolute wonder as the demand for oil plunges and its price goes thru the roof. Yes, oil stocks will crash with the markets. And gold? You will never know its price. It will stop all trading as it slices thru $10,000+.” Continue reading

Where Are We Going?

“My favorite poet is Aeschylus, who once said: ‘And even in our sleep, pain which cannot forget falls drop by drop upon the heart, until in our own despair, almost against our will, comes wisdom through the awful grace of God.’

What we need in the United States is not division. What we need in the United States is not hatred. What we need in the United States is not violence and lawlessness, but love and wisdom and compassion toward one another, a feeling of justice to those who still suffer in our country. ~ Robert F. Kennedy

It is not so much where are you going Lord, but rather, where are we as a people choosing to go. At the moment it appears to be on a darker path, led by fury and passions as old as Babylon and evil as sin. It is an old story. Nevertheless, let us not despair.

Gold has broken out and is holding its level above the high set in the aftermath of the Trump election upset. Silver is holding its level on the 18 handle. Continue reading

The Global Elites’ Secret Plan for Cryptocurrencies

Interest in Bitcoin is red hot at the moment. It’s impossible to open a website, listen to a podcast, or watch a video in the financial space without hearing about the meteoric rise in the price of Bitcoin.

Maybe you know a ‘Bitcoin millionaire’ who bought five hundred Bitcoins a few years back for $50,000 and is now sitting on a Bitcoin fortune. It’s true, those people actually do exist.

Yet the crypto-hysteria is distracting you from a scary truth no one is talking about. There is every indication that governments, regulators, tax authorities, and the global elite are moving in for the crypto-kill. Continue reading

The Coming Run On Banks And Pensions… and a solution for YOU

There are folks that are saying you know what, I don’t care, I’m going to lock in my retirement now and get out while I can and fight it as a retiree if they go and change the retiree benefits. ~ Executive Director for the Kentucky Association of State Employees, Proposed Pension Changes Bring Fears Of State Worker Exodus

The public awareness of the degree to which State pension funds are underfunded has risen considerably over the past year. It’s a problem that’s easy to hide as long as the economy is growing and State tax receipts grow. It’s a catastrophe when the economic conditions deteriorate and tax revenue flattens or declines, as is occurring now. Continue reading

Opening the mint to gold and silver – then and now

Some people think that one of the fundamental institutions of the 19th century should be restored; I will single out Great Britain as the great leader embracing this institution.

This institution was the free minting of gold practiced by Great Britain in its heyday of growth, world economic and financial power. Under this system, any owner of gold bullion could take his bullion to the Royal Mint and have it minted into coins containing the same amount of gold as provided to the Mint by the owner of the bullion delivered. This was done at no cost to the owner of bullion as a government service to the economy.

Thus, the owner of gold bullion converted his bullion directly into money which could be saved, invested or spent at will. The new gold was turned into money and increased the money supply because gold was money. Continue reading

Losses are Just Part of the Game

How many times have we heard this one: “He/she/they caused me to blow up my account”?

Blaming someone else for your losses. Pretty much every novice trader in the world goes through this phase, and many experienced traders as well.

Now I’m going to let you in on a secret that will save you thousands or even millions if you will listen and heed this warning.

Everyone loses from time to time. It’s an inevitable fact. No one, and I mean no one will ever win 100% of the time. Continue reading

Ferdinand Marcos’ Gold Said to Be ‘Enough to Banish Poverty

Marcos’ widow claims massive gold deposits in 177 banks in 72 countries

AFP PHOTO ~ TED ALJIBE

Way back in 2009, former first lady Imelda Marcos told this columnist and three other newsmen that her family’s wealth, most of it in gold kept in 177 banks abroad, is enough to rehabilitate the Philippines and lift Filipinos from poverty.

A big question is how to bring back the hidden hoard while everybody is debating whether the wealth was stolen by then-president Ferdinand Marcos and what part of it should be turned over to the Philippine treasury.

Why would the family offer (they do not say “return“) their wealth accumulated over 50 years to be used to improve the quality of life of Filipinos? Because, Imelda told us, that was the wish and instruction of her late husband. Continue reading