Tag Archives: Venezuela

Stock, Bond, and Real Estate Bubbles Are Popping – Got Gold?

“I don’t know how this whole thing is going unwind – I just think it’s not going to be pleasant for any of us, even if you own gold and silver.  I think owning gold and silver gives you a chance to survive financially and see what it’s going to look like on the other side of what is coming…”

My good friend and colleague, Chris Marcus, invited me on to his Stockpulse podcast to discuss the financial markets, economy and precious metals.  In the course of the discussion, I offer my view of the Bank of England’s refusal to send back to Venezuela the gold the BoE is  “safekeeping” for Venezuela.

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If you are interested in ideas for taking advantage of the inevitable systemic reset that  will hit the U.S. financial and economic system, check out either of these newsletters:   Short Seller’s Journal  information and more about the Mining Stock Journal here:   Mining Stock Journal information.

SoT Market Update: As The U.S. Tries To Destroy The World, It Will Destroy Itself

Except for its western hemisphere lap-dogs and chattel, the U.S. “defense” strategy has been the implementation of a highly “offensive” (in both senses of the word here) policy of military and economic antagonism. What unfolding of events in Syria and Venezuela are just two examples.

As the U.S. Ponzi scheme continues to unravel, the Government’s attempt to control the markets intensifies. The primary stock indices (Dow, S&P 500, Naz), which are currently more overvalued than at any point in U.S. history, seem impervious to any sort of sell-off, no matter how atrocious the economic news. The stock market has been “miraculously” bullet-proof from the most recent Fed official threats to hike interest rates in two weeks.

Conversely, the price of gold, has been subjected to paper gold price slams nearly every day since the Federal Reserve’s Club of Thespians released their latest sequel to “Game Of Rate Hikes.” It’s like “Chuckie” in the “Child’s Play” series – the storyline just won’t die.

The current manipulated pullback has taken gold down about 7% since the “Game of Rate Hikes” was released about two weeks ago. India has been dormant as a gold buyer since March 1st, activity seems to be stirring based on the latest ex-import duty premiums. Smuggling into India has picked up considerably this week – LINK. Similarly, buying in China per data from the Shanghai Gold Exchange has been stimulated by the lower price of gold.   In fact, deliveries onto the SGE have surged this week and the open interest now sits at 720 tonnes, which is likely a record.

The only result that will end up being accomplished by the U.S. intervention in the gold market will be a further transfer of real wealth from the U.S. populace to the Chinese. Thank you may I have another? Rory Hall and I discuss these issues in our latest “Market Update” series from the The Shadow of Truth: