What's Interesting about this chart is that our RETAIL sales generally match the inflection points that the author of this chart plotted out. [...]
Bill Holter Interview: ‘Confetti Dollars’ Are Coming, But Silver Will Pull “The Pin In The Gold Grenade”
Well, what a day we had today. Great fun seeing all that green. But is that it? Has the proverbial train left the station? Hardly. In fact, it has only just begun to chug forward. So why the continued surge in the Comex PMs? We cover this in today's podcast but here are the stats: 2-year note at 4.75% and down 50 bps from its high of six week ago 10-year note at 4.34% and the lowest yield since September 18 POSX down 40¢ to 102.80, the lowest close since August 11 Where will the PMs and mining shares be in a few months when The Fed has begun to ease and the POSX is under 100? Again...the train has only begun to lurch forward.
The world is now witnessing the end of a currency and financial system which the Chinese already forecast in 1971 after Nixon closed the gold window. Again, remember von Mises words: “There is no means of avoiding the final collapse of a boom brought about by credit expansion.” History tells us that we have now reached the point of no return. So denying history at this point will not just be very costly but will lead to a total destruction of investors’ wealth. POLITICIANS LIE WITHOUT FAIL History never lies but politicians do without fail. In a fake system based on false values, lying is considered to be an essential part of political survival. Let’s just look at Nixons ignorant and irresponsible statements of August 15, 1971 when he took away the gold backing of the dollar and thus all currencies. Later on we will show how clearsighted the Chinese leaders were about the destiny of the US and its economy.
Reuters: THE CHIEF OF THE UNITED NATIONS WARNS THE WORLD IS AT RISK OF A GREAT FRACTURE OF ITS ECONOMIC AND FINANCIAL SYSTEMS
The world risks a "great fracture" of its economic and financial systems, U.N. Secretary-General António Guterres said on Thursday at a summit with Southeast Asia's ASEAN bloc, China, the United States and others in Indonesia. "There is a real risk of fragmentation – of a great fracture in world economic and financial systems; with diverging strategies on technology and artificial intelligence and conflicting security frameworks," he said. He called for a mechanism to provide relief for debt-strapped developing economies, to include payment suspensions, longer lending terms and lower interest rates. He also voiced support for re-channelling an additional $100 billion of International Monetary Fund's Special Drawing Rights through multilateral development banks to increase liquidity and support developing economies' needs.
I have contended for the past near-40 years, that silver has been manipulated and suppressed in price by means of excessive short selling on the COMEX, mostly by commercial traders which happen to be mostly banks. As a result of this decades-long price suppression, the law of supply and demand has become artificially distorted. The low price has reduced supply and current production and increased demand (both industrial and investment) to the point where a wholesale physical shortage has emerged. Since a physical shortage is the most bullish circumstance possible in any commodity, it stands to reason one should expect silver prices to climb sharply to address the deepening silver shortage - thus, the high degree of bullishness I’ve expressed. But it is not enough to be extremely bullish. Proper appreciation must be given to the past 40 years of price suppression. To see where the price of silver is headed, one must understand the mechanics of the COMEX price suppression.
Jim Rickards Interview: The Collapse of Our Global Economy: The Banking Crisis Is Only Just Getting Started