With the price of gold briefly breaching the $1,800 level today, a nightmare for gold shorts is now unfolding.
The post A Nightmare For Gold Shorts Is Now Unfolding appeared first on King World News.
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Tuesday, June 30, 2020
This Is What Will Happen If Gold Breaks Above $1,804
This is what will happen if the price of gold breaks above $1,804.
The post This Is What Will Happen If Gold Breaks Above $1,804 appeared first on King World News.
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Time to Roger Up with Brent Magnussen
from Financial Survival Network
Brent Magnussen is an American author, professional speaker, and a former U.S Army Engineer. He is an adventure seeker, an avid practitioner of Brazilian Jiu-Jitsu, an accomplished cook, a voracious reader, and a Freemason.
Jim Rohn says, “Formal education will make you a living, self-education will make you fortune.” How can you learn to “Roger Up?” Not an easy proposition these days. With the pandemic, economic collapse of small businesses, job losses, political division, and racial tension going on, it can be a bit frightening if you are concerned about your safety and financial future. So, how can we rise up from the ashes and be productive and excited about life again? In these uncertain times, we as human beings have the ability to break from the current inertia and steer our ships in a different direction not only for our sanity, but for the sake of our livelihoods and for our families. Now, more than ever, it is imperative to pivot and get creative in order to prevent your ship from sinking.
Roger Up is an enthralling action plan for living life to the fullest and rising up stronger and better from adversity. It’s a sharp, smart blueprint that gives you an action guide to follow along with the mindset that you must obtain to be able to rise up out of the ashes and succeed.
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Which Will Collapse First, the Three Gorges Dam or the Stock Market? with John Rubino
from Financial Survival Network
Then we discussed the possible collapse of the Three Gorges Dam and the Stock Market. If the dam gives way we could witness the largest natural/manmade disaster in history with millions dying and 40 percent of China’s economy would die on the vine. The dam produces more electricity than any other power plant in the world. It could leave 30 percent of the country in the dark.
Finally John discusses the left’s hypocrisy over Covid 19. It’s okay to riot but not to have a political or to demonstrate against the lockdown. Sounds like a double standard to us.
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$1800 Gold with Nick Santiago (Ep #66)
from Daily Market Wisdom with Nick Santiago
1. Semiconductors are strong today after earnings from Micron (MU) and upside guidance from Xilinx (XLNX). This is certainly helping the tech sector today. As a rule the semiconductors are a very good leading indicator. As long as the semiconductors hold up the Nasdaq quill usually do well. If the semiconductors roll over it is usually problematic for the tech sector.
2. This is a holiday shortened trading week in the United States with the market being closed for the Independence Day holiday (Saturday July 4th), but it will be observed on July 3rd (Friday). This is usually a trading week that will see lighter volume. Lighter volume usually favors minor upside markets.
3. Nasdaq is leading. Dow flat. Russell 2000 and S&P 500 up slightly. Helps the market stay bouyant. Easier to manipulate when volume is low. Typical holiday trading pattern. Today is the last trading day of the month. S&P topped out on June 8. Building a new a base.
4. Gold is up $18. Silver is up 2.3% Central bankers are printing up a monetary storm. July Gold future hit $1800. Don’t worry about gold just get in some silver. There could be a shortage of precious metals come Fall due to the worldwide Covid 19 mining shutdown. They’re not going straight up as we know.
5. Unlike Tesla. Stock’s chart is very strong. It’s a market darling which says a lot. Amazon was like a Tesla. Now they’ve evolved and are still evolving. Watch out for Nikola, which went parabolic.
6. Hotels look good. Airlines are in the choppy spot. Casinos are looking to cash in. Be selective.
For more info, go to www.InTheMoneyStocks.com.
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The Weekly Perspective with David Morgan – Gold Outperforms During the Biggest Global Shutdown in History
from The Morgan Report
As markets spent the past month “oblivious to the economic reality” by recovering from their precipitous falls, the clear winner was the ‘safe haven’, gold.
Today’s monetary system is based upon a lie. The lie is that you can get something for nothing, or perhaps more simply stated, wealth can be printed. History has shown throughout 5000 years that whenever a country has tried to maintain this illusion (lie), failure has been the result. You can continue to grow your wealth regardless of the changing winds of politics, the economy and the financial markets. Let me show you how…
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Daily Digest 6/30 – Cash Cliff Spells Trouble For U.S. Unemployed, The Fed Now Owns Walmart’s Debt
Economy
A cash cliff spells trouble for U.S. unemployed, and everyone else (Sparky1)
Without new support, recipients face a substantial loss of income – particularly devastating for those like the Ramirez family who worked in hard-hit sectors like hospitality where new jobs are scarce. During high unemployment and a still-raging pandemic, the end of enhanced jobless benefits could drag on consumer spending, set off a wave of missed rent and mortgage payments and translate to a slower recovery, economists said.
China passes national security law in turning point for Hong Kong (Sparky1)
The legislation pushes Beijing further along a collision course with the United States, Britain and other Western governments, which have said it erodes the high degree of autonomy the city was granted at its July 1, 1997, handover.
The United States, already in dispute with China over trade, the South China Sea and the coronavirus, began eliminating Hong Kong’s special status under U.S. law on Monday, halting defence exports and restricting technology access.
Powell, Mnuchin enter the lion’s den again to discuss pandemic response (Sparky1)
Treasury has been at the forefront of the $660 billion forgivable-loan Paycheck Protection Program (PPP) aimed at keeping small businesses afloat and their employees on payrolls.
Fed Chair Jerome Powell and Treasury Secretary Steven Mnuchin are due to testify before the U.S. House of Representatives Financial Services Committee at 12:30 p.m. EDT (1630 GMT) to discuss how funds were disbursed to households and businesses.
California mandates bars close in 7 counties, recommends closures in Sacramento and others (tmn)
“COVID-19 is still circulating in California, and in some parts of the state, growing stronger,” Newsom said in a written statement. “That’s why it is critical we take this step to limit the spread of the virus in the counties that are seeing the biggest increases.”
Sacramento health officials, who have expressed concerns about lack of social distancing in bars, said Sunday they will consider the governor’s request and decide likely Monday.
Some US states return to previous restrictions to slow surge of coronavirus cases (tmn)
The risk of keeping bars and restaurants open is exemplified by a bar in East Lansing, Michigan, where 85 people contracted Covid-19 after visiting early this month.
Even states with low case counts have readjusted their reopening plans. Monday, New Jersey decided against resuming indoor dining, and New York Gov. Andrew Cuomo said a decision on whether New York City could resume indoor dining would be made by Wednesday.
Iran issues warrant for Trump over killing of top general (Sparky1)
Alqasimehr said the warrants had been issued on charges of murder and terrorist action. He said Iran had asked Interpol to issue a “red notice” seeking the arrest of Trump and the other individuals the Islamic Republic accuses of taking part in the killing of Soleimani.
Alqasimehr said the group included other U.S. military and civilian officials but did not provide further details.
The Fed now owns Walmart’s debt. Here’s why it matters (hail)
The policy has proved “remarkably powerful” to fight this crisis, Goldman Sachs said. But it’s not clear the Fed should use it as a regular tool to fight future recessions, per the investment bank.
This crisis is expected to be severe but short, lowering the risk of propping up inefficient “zombie” firms that should be allowed to fail. That may not be the case next time around.
Airbus set to announce thousands of job cuts, unions say (Sparky1)
The company will brief unions on the status of orders and aircraft cancellations as it prepares to keep production lower than previously planned for up to five years.
Exceptional secrecy surrounds the politically sensitive restructuring affecting jobs in Britain, France, Germany and Spain, the company’s key backers in a fierce contest with U.S. rival Boeing for orders and industrial clout.
Drive-up US citizenship eases backlog, but new threat looms (Sparky1)
“I wouldn’t be surprised if you have several hundred thousand people who are not in a position to vote in this election but would have been if business had been progressing normally at USCIS,” said Randy Capps of the Migration Policy Institute. “That’s been everyone’s concern.”
Two teenagers shot in Seattle’s Chop autonomous zone (TourGuideDC)
“The male shooting victim who arrived to Harborview… at 03:30 from the Chop area on Capitol Hill in Seattle has unfortunately died,” the statement added.
Although the site was initially occupied by hundreds of peaceful protesters, this is the fourth shooting within the boundaries of Chop in the last 10 days.
The world needs more independent thinkers (Jane L.)
The result? People with a strong moral philosophy are leaders. They often end up happier, feel more in control of their own life, and less frustrated. They actively take steps to get their own freedom. (Because the government can’t do it for you.)
By being your own rock, relying on your own merit. Your decisions will be aligned with your own virtues. That constant awareness of your principles to judge each situation for yourself.
White House Blames Rise in Virus Cases on More Testing, as Experts Dispute the Claim (tmn)
Mr. Cuomo said on NBC’s “Meet the Press” program that New York, once a global epicenter, had reported five deaths on Sunday, the lowest number since the start of the pandemic. But he said that he was afraid that travelers from states with higher infection rates could reverse his state’s hard-won gains.
Casino workers in Vegas sue over coronavirus safety concerns (Sparky1)
Harrah’s operator Caesars Entertainment declined to comment about the lawsuit. A company spokesman acknowledged Fernandez’s death with a statement that didn’t name him. It said officials had not determined how he contracted the virus and noted that some co-workers had been placed on paid leave in self-isolation.
Representatives of MGM Grand and Bellagio owner MGM Resorts International did not immediately respond to messages.
Alarm in Indonesia over high number of Covid-related deaths among children (Sparky1)
Local health officials said the tiny infant, who has not been publicly named, probably contracted the killer virus at just 28 days old, and died two weeks later after suffering high fever, coughing and laboured breathing.
“Based on the contract tracing we carried out, the baby contracted Covid-19 from neighbours who visited him soon after he was born,” Syaiful Hidayat, the local Covid-19 taskforce chief, told the Jakarta Post. He said many visitors had embraced the newborn.
Serious coronavirus-linked condition hit 285 US children (Sparky1)
At least 35 states have had cases, and they seem to crop up a few weeks after local COVID-19 activity peaks, said Dr. Adrienne Randolph of Boston Children’s Hospital. She is a lead researcher for a multistate study that includes CDC scientists. The second paper involved 99 children in New York state, where the first U.S. cases occurred.
Combined, the papers show 285 cases from March thru mid to late May but Randolph said additional U.S. children have been diagnosed in June.
Swine flu strain with human pandemic potential increasingly found in pigs in China (Sparky1)
When multiple strains of influenza viruses infect the same pig, they can easily swap genes, a process known as “reassortment.” The new study, published today in the Proceedings of the National Academy of Sciences, focuses on an influenza virus dubbed G4. The virus is a unique blend of three lineages: one similar to strains found in European and Asian birds, the H1N1 strain that caused the 2009 pandemic, and a North American H1N1 that has genes from avian, human, and pig influenza viruses.
Pigs are considered as important hosts or “mixing vessels” for the generation of pandemic influenza viruses. Systematic surveillance of influenza viruses in pigs is essential for early warning and preparedness for the next potential pandemic. Here, we report on an influenza virus surveillance of pigs from 2011 to 2018 in China, and identify a recently emerged genotype 4 (G4) reassortant Eurasian avian-like (EA) H1N1 virus, which bears 2009 pandemic (pdm/09) and triple-reassortant (TR)-derived internal genes and has been predominant in swine populations since 2016.
As a result the virus appears to be approximately 10 times more infectious than it was when it first jumped to humans in China at the end of the year, scientists say.
The mutated version of the virus, dubbed G614 – a change from D614 – is a tiny change in its genetic make-up that scientists weren’t sure what to make of when they found it.
U.S. Deposits of Rare-Earth Elements Are . . . Not So Rare, after All (TourGuideDC)
Right now, the only U.S. domestic source of rare-earth minerals is the Mountain Pass mine in California. As I noted back in December, the United States is sitting on a massive supply of rare-earth metals. We just haven’t worked out a way to access it in a way that environmentalists find acceptable: “According to mining experts, Bear Lodge is home to one of the richest and highest-grade rare-earth deposits in the U.S., with an estimated 18 million tons of rare earth inside.” A U.S. Geological Survey report completed last year detailed the potential of nine other deposits around the country.
Shell to write down up to $22 billion after coronavirus hit (Sparky1)
In its update before second-quarter results on July 30, Shell said upstream oil and gas production was expected to average 2.35 million bpd in the three months to June, down from 2.71 million bpd in the first quarter.
Shell, which has a market value of $126.5 billion, said it would take an aggregate post-tax impairment charge of $15 billion to $22 billion in the second quarter.
Gold & Silver
Click to read the PM Daily Market Commentary
Provided daily by the Peak Prosperity Gold & Silver Group
Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."
The post Daily Digest 6/30 – Cash Cliff Spells Trouble For U.S. Unemployed, The Fed Now Owns Walmart’s Debt appeared first on Peak Prosperity.
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Gold Mining Stocks May Be Ready For Another Surge
It appears gold mining stocks may be ready for another surge higher.
The post Gold Mining Stocks May Be Ready For Another Surge appeared first on King World News.
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Citibank Joins Mainstream Gold Bulls Forecasting Record Prices
Citibank has joined other mainstream gold bulls calling for record gold prices. Citi raised its gold price forecast this week. It now projects a three-month price of $1,825 per ounce and for the yellow metal to head into record territory in 2021. Citi analysts expect gold to eclipse the $2,000 mark early next year. Citibank […]
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If History Is Any Guide We Could See $4,000 Gold
If history is any guide, we could be heading toward $4,000 gold. This according to analysis by US Global CEO Frank Holmes. Holmes recently appeared on Kitco News and showed how the price of gold has historically correlated with the expansion of the Federal Reserve’s balance sheet. We’ve already seen the balance sheet balloon by […]
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Monday, June 29, 2020
Gold May Hit $1,800+ This Week, Gold Stocks Are In For One Hell Of An Upside Move, Plus A Big Surprise!
The price of gold may hit $1,800+ this week, gold stocks are in for one hell of an upside move, plus a big surprise!
The post Gold May Hit $1,800+ This Week, Gold Stocks Are In For One Hell Of An Upside Move, Plus A Big Surprise! appeared first on King World News.
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Daily Digest 6/29 – 500K Coronavirus Deaths Worldwide, Remdesivir Priced At $3,120 For Typical Patient
Economy
Russia Secretly Offered Afghan Militants Bounties to Kill U.S. Troops, Intelligence Says (Sparky1)
The intelligence finding was briefed to President Trump, and the White House’s National Security Council discussed the problem at an interagency meeting in late March, the officials said. Officials developed a menu of potential options — starting with making a diplomatic complaint to Moscow and a demand that it stop, along with an escalating series of sanctions and other possible responses, but the White House has yet to authorize any step, the officials said.
Hack Brief: Anonymous Stole and Leaked a Megatrove of Police Documents (Sparky1)
DDOSecrets notes that none of the files appear to be classified, and Best concedes that they may not show illegal behavior on the part of police. But the group argues that the documents instead reveal legal but controversial practices, as well as the tone of police discussions around groups like Antifa—for instance, describing white nationalists like Richard Spencer as anti-Antifa, rather than acknowledging that Antifa expressly opposes groups like those who follow Spencer.
Tattoo artist sees bump in desire to erase hateful skin art (Sparky1)
Dr. Jeffrey Dover, a dermatologist who is the director of SkinCare Physicians in Chestnut Hill, Massachusetts, said cover or removing offensive tattoos is a public service.
“It’s a pro bono service to the community, a service to humanity, a service to the individual who has the tattoo, but also to all those who are offended by the tattoo,” said Dover, who is also an associate professor of Dermatology at Yale School of Medicine. “Just think of the recoil of a Holocaust survivor who sees a Nazi tattoo.”
Protesters resist as crews arrive to dismantle Seattle’s autonomous protest zone (TourGuideDC)
But following several shootings in the area, Durkan said the city would wind down the protest zone, at first by encouraging demonstrators to leave. In addition, she said police would return to a nearby precinct that was abandoned following clashes with demonstrators.
Coronavirus milestones: 10 million cases, 500,000 deaths worldwide (Sparky1)
The coronavirus pandemic has topped two milestones — 10 million cases and 500,000 deaths — since the first cases were reported six months ago.
The cases total stands at 10,242,932, according to tracking by Worldometers.info on Sunday. And 5 percent of them have resulted in deaths: 502,808. One week ago, the cases passed 9 million and 470,000 deaths.
Asian Americans take campaign against ‘Kung Flu’ slur to the streets (Sparky1)
Since the outbreak of the global coronavirus pandemic, Ng has been active on social media but felt calling out anti-Asian racism online wasn’t enough. In May, Ng and her co-organizers, with the help of nearly 50 volunteers, launched their first campaign, “Don’t Be Cruel,” to inform Chinese American and other minority-owned businesses in New York to notify police if they encounter race-based harassment, or a hate crime.
With the World Focused on the Pandemic, Israel Prepares to Annex Large Swaths of the West Bank (Sparky1)
There are multiple reasons why Israel is not just willing but seemingly eager to incur condemnations from the international community by proceeding with this plan. Prime Minister Benjamin Netanyahu is beset by political problems as he struggles to form a governing coalition for a new term and, even more importantly, by legal problems as he stands trial on felony charges of bribery and fraud. Emboldening the Israeli population and causing them to unite behind him in the face of international denunciations could distract attention away from those crises and solidify his hold on power.
2022: A Vaccination Passport. The EU Keeps Quiet Over Suspicious Documents (westcoastjan)
Since the EC-WHO global vaccination summit also discussed a renewed immunization agenda for 2030, the big pharma’s shareholders need not worry for the long-term performance of their stock.
One ought really not to “harm vaccination rates worldwide”.
Covid-19 treatment remdesivir priced at $3,120 for the typical patient (DennisC, TourGuideDC, Lilian)
The company’s chairman and chief executive, Daniel O’Day, broke down the pricing for remdesivir in a letter on Monday. Patients will require six vials, at $520 apiece, over five days. Gilead relied on U.S. health-care system guidelines to make its calculation and said it expected government discounts. For other countries, the treatment will cost $2,340 per patient.
Why do some COVID-19 patients infect many others, whereas most don’t spread the virus at all? (Roger B.)
“If you can predict what circumstances are giving rise to these events, the math shows you can really, very quickly curtail the ability of the disease to spread,” says Jamie Lloyd-Smith of the University of California, Los Angeles, who has studied the spread of many pathogens. But superspreading events are ill-understood and difficult to study, and the findings can lead to heartbreak and fear of stigma in patients who touch them off.
Maryland Issues $70,000 Fine To Nursing Home Over Failure To Prevent Coronavirus Spread (TourGuideDC)
In March, Carroll County health department officials reported 66 positive test results at Pleasant View in one day, raising concerns about the facility’s staffing and practices. “We’re all trying to prepare for what could be ahead of us, as far as a surge,” Ed Singer, the director of the county’s health department, said at the time.
Through staff interviews and a review of Pleasant View’s records, the state officials reported that “the facility failed to properly implement infection control practices to prevent COVID-19 and was not following infection control safety practices and guidance recommended by the Centers for Medicare and Medicaid Services (CMS) and the Centers for Disease Control and Prevention (CDC), during a COVID-19 pandemic.”
What Parents Can Learn From Child Care Centers That Stayed Open During Lockdowns (Base12)
“There are almost no recorded cases of child-to-adult transmission of COVID-19,” says Elliot Haspel, an education policy expert and child care advocate who wrote an op-ed arguing for reopening full-time child care and schools as soon as possible. “It’s not zero risk, [but] we’re acting with a March 2020 understanding of COVID-19 and kids, and not with a June 2020 understanding of COVID-19 and kids.”
Intrafamilial Exposure to SARS-CoV-2 Induces Cellular Immune Response without Seroconversion (Base12)
Exposure to SARS-CoV-2 can induce virus-specific T cell responses without seroconversion. T cell responses may be more sensitive indicators of SARS-Co-V-2 exposure than antibodies. Our results indicate that epidemiological data relying only on the detection of SARS-CoV-2 antibodies may lead to a substantial underestimation of prior exposure to the virus.
What you need to know about contact tracing apps and privacy (Boomer41)
History has shown us that surveillance regimes are easier to build than they are to dismantle. The Snowden revelations taught us that we must always be vigilant when protecting our right to privacy. We must design any contact tracing system with care to ensure we do not create an invasive data collection system that could be used to monitor citizens after this crisis is over or for activities that have nothing to do with containing the virus.
A Startup Wants to Use Foam to Pull Junk From Space (TourGuideDC)
Now, the Russian space company StartRocket has developed a new plan to remove dangerous debris using foam. The startup’s 110-pound, barrel-shaped satellite—called the Foam Debris Catcher—would be deployed in the aftermath of a collision.
Once it reaches the debris cloud, the satellite would splay out a web of space-grade polymeric foam arms which, according to StartRocket, can capture as much as a ton of space junk. Once the satellite catches enough debris, orbital drag would pull it toward Earth’s atmosphere, where it would burn.
The Burning Platform: Boiling Point (thc0655)
I haven’t written anything in over a month because I’ve been trying to decipher the truth about this coordinated effort to destroy the underpinnings of our civilized society. Just as the impeachment scam was ending and the Russiagate conspiracy was about to be revealed as a coup attempt engineered by Obama, Biden, Comey and their band of Deep State minions, the Covid-19 pandemic conveniently engulfed the world in fear, with medical “experts” declaring millions would surely die unless we closed the global economy and sheltered in our basements.
Charting The $1.7B Transfer Of Military Equipment To Police Departments (CleanEnergyFan)
The 1033 program has been likened to Craigslist’s “Free Stuff” section, and the comparison is apt. The mechanics of the program are relatively straightforward. Outdated military gear is transferred (at no cost) to state and local law enforcement agencies who go through the application process. The equipment is loaned to agencies, who are only responsible only for shipping and subsequent operating costs (e.g. fuel, spare parts).
Law enforcement agencies gain access to a vast array of military surplus, from office supplies and thermal underwear up to armored vehicles and multi-million dollar communications systems. Also included in the mix are medical supplies and gear to aid in search and rescue operations. Since the program’s inception, over $7.4 billion worth of property has been transferred.
Sensors detect rise in nuclear particles on Baltic Sea, global body says (Sparky1)
Zerbo’s post included a borderless map showing where the particles might have come from in the 72 hours before they were detected – a large area (here) covering the tips of Denmark and Norway as well as southern Sweden, much of Finland, Baltic countries and part of western Russia including St Petersburg.
The Trillion Dollar Battle Over North Korea’s Rare Earth Elements Is Just Beginning (TourGuideDC)
Erbium, Thulium, Cerium, Samarium, Lithium . . . these are some of the elements that under the “rare earth” label. Many of the technological advances that have been realized over the past several decades have elements derived from the seventeen elements of the periodic table.
Venezuela tightens grip on fuel stations after subsidy reform (Sparky1)
The notification document, seen by Reuters, says PDVSA “will be able to rescind the contract unilaterally and at any time”. A person familiar with the process, who asked not to be named, said so far 12 gas stations in Caracas had received the notification.
PDVSA did not respond to a request to comment.
Locusts overtake India’s capital region (Sparky1)
“All district magistrates have been advised to remain on high alert and to cooperate with the district fire department personnel for spraying prescribed pesticides/insecticides,” the a Delhi advisory said.
Rai said he ordered districts to contain the spread of the insects by advising residents to make loud noises and burn Neem leaves.
Gold & Silver
Click to read the PM Daily Market Commentary
Provided daily by the Peak Prosperity Gold & Silver Group
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The post Daily Digest 6/29 – 500K Coronavirus Deaths Worldwide, Remdesivir Priced At $3,120 For Typical Patient appeared first on Peak Prosperity.
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Massive Precious Metals Shortage Coming in the Fall – Andy Schectman
from Financial Survival Network
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The Great American Mask Hoax with Dr. Ted Noel
from Financial Survival Network
Let’s put that in plain English. Even if you did everything to protect yourself with surgical masks, even keeping it on when your kid wants to see your face, it might reduce your chance of getting sick, but we can’t prove it. And that’s in a well designed study intended to get a meaningful result. “[H]ousehold use of face masks is associated with low adherence and is ineffective for controlling seasonal respiratory disease” (emphasis added).
What about homemade cloth masks? In a study using influenza, masks made from cotton T-shirts “should only be considered as a last resort to prevent droplet transmission from infected individuals.” They were only one third as effective when worn by the sick person as a surgical mask. If you’re sick, they’re better than nothing, but that’s not much. The CDC says, “Cloth face coverings may slow the spread of the virus and help people who may have the virus and do not know it from transmitting it to others.” Translation: It mighthelp, but we don’t have any data to back that up.
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Keep Shorting Covid with Nick Santiago (Ep #65)
from Daily Market Wisdom with Nick Santiago
1. Markets dropped sharply on Friday in a broad based decline. This tells us that the markets are still in retreat mode from the June highs. Right now, this looks like a pullback from a big advance off the march 23rd bottom. Obviously, there are lots of reports about an increase in coronavirus cases and many investors are worried about another economic shutdown, but this time around I think it will be more like putting out the fire where the flame flares up and not shutting down everything like we saw before. This is a big difference from what happened in March.
2. Russell 2000 is 3.3 percent. Staffing companies appear to be making a range. Manpower hasn’t been bad. Housing sector charts still looking strong. There’s often a dsconnect between the stocks and the economy. You have to look at the underlying chart. Southwest got an upgrade and is up over 6%. American up 5%.
3. Don’t be deceived by the Covid panic. The virus is actually abating Effective treatments are being developed. Steroids and HCQ and many other treatments are available. The market doesn’t lie and it’s telling a completely different story. The cure has certainly been worse than the disease.
4. Gold and silver are taking a breather. This is what we need.
5. Nick doesn’t use Elliott Wave Theory while very familiary with it. It’s very difficult to know where the waves are. It gets confusing and Nick’s methods are more reliable. Nick has taken all of the strategies he’s found reliable and combined them all. The key is what’s right over 70% of the time. It always about time, price, volume and patterns. Best moves are off the highs and the lows. March 23 was a major bottom. Nick was off 4 days. Right now we’re getting a sideways structure. Respect the chart. If it breaks down Nick will become a bear, right now he’s a bull.
6. Nick is still bullish on Pfizer and Hyatt call options.
For more info, go to www.InTheMoneyStocks.com.
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Which Corporate Bonds the Fed Has Bought So Far?
Earlier this month, the Federal Reserve announced it would begin buying individual corporate bonds. Now we have our first glimpse at what that means in practice. On Saturday, the Fed released a disclosure statement that lists the bonds purchased by the central bank. The amount so far is relatively modest $428 million. Junk bonds made […]
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As We Kickoff Trading, This Is Hard To Believe But It’s True
As we kickoff trading, this is hard to believe but it's true.
The post As We Kickoff Trading, This Is Hard To Believe But It’s True appeared first on King World News.
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Peter Schiff: V-Shaped Recovery Narrative Falling Apart
Over the last couple of months, we’ve been arguing that we won’t see a dramatic “v-shaped recovery.” Even if we cure COVID-19, it won’t cure the economy. But the mainstream has remained optimistic. In his podcast Friday, Peter Schiff points out some of the ways the whole v-shaped recovery narrative is falling apart. The weekend […]
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Sunday, June 28, 2020
Greyerz – The Silver Maginot Line Will Fall And The Price Of Silver Will Explode
Today Egon von Greyerz told King World News it is now only a matter of time before the Silver Maginot Line falls, just like the Gold Maginot Line fell, and the price of silver is going to explode higher after it is broken.
The post Greyerz – The Silver Maginot Line Will Fall And The Price Of Silver Will Explode appeared first on King World News.
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Update On The Gold & Silver Markets
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Saturday, June 27, 2020
Daily Digest 6/27 – State & Local Gov’ts Need Billions More To Avert Layoffs, Half of U.S. Homeowners Struggle To Pay Mortgages
Economy
State, local governments need billions more in aid to avert 4 million layoffs, Moody’s finds (Sparky1)
The Democratic bill combines $500 billion for state governments — as requested by the nation’s governors — and $375 billion for local governments, many of whom were left out of earlier relief efforts. The Moody study says that level of spending — rejected out of hand by Republicans — is likely beyond what’s needed.
“The scope of aid being requested is certainly unprecedented in size and warrants significant scrutiny,” Moody’s says. “For example, the $1 trillion in aid recently approved as part of the house’s HEROES Act would be enough to raise the eyebrows of even the most aggressive advocates of fiscal stimulus.”
Half of U.S. homeowners struggle with mortgage due to COVID-19, consider selling home (thc0655)
Although the National Association of Realtors says there are some relief options available for struggling homeowners, many don’t believe they’ll qualify and some even think the programs might be a scam.
“Unfortunately, at times like these scam activity increases, so homeowners must remain vigilant and watch out for offers that sound too good to be true,” says National Association of Realtors President Vince Malta in a statement.
House approves Washington, D.C., statehood in historic vote (SillyTheEnemy)
“Congress has two choices: It can continue to exercise undemocratic, autocratic authority over the 705,000 American citizens who reside in our nation’s capital … or Congress can live up to its nation’s promise and ideals,” said Eleanor Holmes Norton, Washington’s congresswoman. Norton is not able to vote on legislation.
Governments eye new taxes on cigarettes, homes and tech giants to pay for big budget shortfalls related to the coronavirus (TourGuideDC)
The increases that have been proposed — and in some cases adopted — reflect growing desperation on the part of government leaders nationwide. Many have found that recent spending cuts, furloughs and layoffs have not been enough to shore up their sagging finances, forcing them to consider more politically noxious and economically risky moves in the middle of an economic crisis.
Macy’s slashing 3,900 white-collar jobs, roughly 25 percent of its corporate workforce (TourGuideDC)
Coronavirus-related store closures have led to a precipitous drop in sales that has roiled the retail industry, which was in trouble long before the pandemic. Six national retailers — including department store chains J.C. Penney and Neiman Marcus — have filed for bankruptcy since May. As many as 25,000 bricks-and-mortar stores are expected to permanently close this year, according to Coresight Research, which will have far-reaching effects on shopping malls, workers and local communities.
CMBS Delinquency Rate Spikes by Most on Record (000)
Industrial CMBS: the delinquency rate ticked up to 1.82% (from 1.36% in April). This sector includes warehouses and fulfillment centers for ecommerce, which is booming and is probably one of the biggest beneficiaries of the lockdowns, as retail shifted that way. Industrial properties are a still fairly hot sector, whose delinquency rate of 1.82% was less than 1/10th the delinquency rate of Lodging.
Against epic odds, he found a drug that saved his own life six years ago, by creating a collaborative method for organizing medical research that could be applicable to thousands of human diseases.
But after seeing how the same types of flares of immune-signaling cells, called cytokine storms, kill both Castleman and Covid-19 patients alike, his lab has devoted nearly all of its resources to aiding doctors fighting the pandemic.
Coronavirus: Virus ‘found’ in March 2019 Spain sewage (Jonathon C.)
Mr Bosch, who is president of the Spanish Society of Virologists, said that an early detection even in January could have improved the response to the pandemic.
Instead, patients were probably misdiagnosed with common flu, contributing to community transmission before measures were taken.
COVID-19 Insights: Quercetin as Zinc Ionophore and COVID-19 Outpatient Management (Bryan)
Safe in therapeutic doses especially for short term use. Long term use can cause retinal damage, heart arrhythmias, and blood disorders. See our detailed video about it.
The U.S. Needs China For Rare Earth Minerals? Not For Long, Thanks To This Mountain (TourGuideDC)
It’s amazing good fortune, then, that out in the barren scrub of Far West Texas 85 miles east of El Paso, an unassuming 1,250-tall mountain called Round Top holds the promise of making America largely self-sufficient in these critical minerals. The mountain contains five out of six light rare earths (such as neodymium), 10 out of 11 heavy rare earths (dysprosium, for example), and all five permanent magnet materials. What’s more, Round Top has large deposits of lithium, critical for batteries in EVs and power storage.
An Update On The Rare Earths Sector And Some Promising Rare Earths Stocks To Consider (TourGuideDC)
MP Materials owns and operates Mountain Pass, the only rare earth mining and processing site in North America. MP Materials extracts 50,000 tons of rare earth concentrate each year but still relies on China to process the materials. However, MP Materials plans to have its own Heavy Rare Earth separation facility and has been awarded partial US Defense funding for such a facility at their Mountain Pass Mine in California. The above-linked report states: “MP will have to solicit the Pentagon again for construction-related funds.” Mountain Pass plans to have an output of 5,000 metric tons of neodymium and praseodymium (NdPr), starting in 2021. The Mountain Pass Mine has been a major US rare earths producer in the past; however, it included the failure of Molycorp in 2015.
U.S. Strengthens Its Rare Earth Supply Chain With New Processing Plant (TourGuideDC)
“Establishing an independent domestic rare earth and critical minerals supply chain is monumental for USA Rare Earth and for the United States, overcoming reliance on China for materials and processing that are essential for defense applications and advanced technology manufacturing,” said Pini Althaus, USA Rare Earth CEO.
Gold & Silver
Click to read the PM Daily Market Commentary
Provided daily by the Peak Prosperity Gold & Silver Group
Article suggestions for the Daily Digest can be sent to dd@peakprosperity.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."
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Friday, June 26, 2020
MASSIVE GOLD SHORT SQUEEZE: “There Is No Escape For Them (The Gold Shorts)”
Is a massive short squeeze at hand in the gold market? One of the greats in the business just warned, "There is no escape for them (the gold shorts)."
The post MASSIVE GOLD SHORT SQUEEZE: “There Is No Escape For Them (The Gold Shorts)” appeared first on King World News.
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Into The Light: 8 Steps For Surviving What’s Coming
Executive Summary
- The implications of the Federal Reserve's massive mistakes
- The (many) indicators I am watching most closely right now
- The 8 steps I recommend *everyone* take right now
- Additional steps I've been taking to prepare in my own life over the past 3 months
If you have not yet read Part 1: Into Darkness: Where The Fed Is Leading Us, available free to all readers, please click here to read it first.I've been tracking full-time the macro developments driving the world for nearly 20 years now, and at no point have I been this concerned where things are headed. And that's saying a *lot*. So I've produced the following hour long video walking you through in great detail the key indicators that worry me and suggest a breakdown of the status quo is a lot closer at hand than most folks imagine. I don't like to simply sound the alarm; I much prefer to offer positive actions we can take to protect ourselves from the coming challenges -- and perhaps prosper through them, given the prudent steps we take now. So I give recommendations for 8 steps everyone should be taking now, and share additional preparations I've been making in my own life over the recent three months. Why is this restricted to Peak Prosperity’s premium subscribers? Two main reasons: One — we reserve our best analysis and most directive guidance for the paying members whose financial support makes operating this site possible. Also, I'm willing to share my "best guess" thinking with this private audience on the really tricky questions facing us; I wouldn't feel comfortable having that level of speculation out in the public realm. And Two — one of the many benefits of premium membership is closer access to the experts on this site. If you’re not yet a premium member but would like to become one and watch this presentation, as well as *all* of our premium content, click the button below to subscribe:
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Into Darkness: Where The Fed Is Leading Us
As you may know, I was one of the very first voices publicly reporting on covid-19, issuing an alert that the virus was a significant pandemic event on Jan 23rd, 2020.
This was long before most media outlets even managed to write their first “It’s just the flu, bro!” article.
Using the same logic and scientific methodology I was trained in as a PhD, I was able to “predict” things well in advance of nearly every official or mainstream news source.
I’m using quotation marks around the word “predict” because it’s not really a prediction when you’re just extrapolating trends that are already underway.
Just as it’s not really a “prediction” to estimate where a thrown pitch will travel, it wasn’t much of a prediction to state that a novel virus with an R-Naught (R0) of well over 3 would be extremely difficult to contain once it arrived in a country. Note that I didn’t say impossible — South Korea, Australia, New Zealand, Thailand, Taiwan and Vietnam all get high marks for containment — but certainly difficult.
The US and the UK proved this in spades, as they’re both led by below-average ‘managers’ rather than leaders.
Leaders make tough decisions based on imperfect information. Managers dither and hedge and only make up their minds after the facts are already in and events well underway. Naturally, the US/UK managers were simply no match for the exponential rate that the Honey Badger Virus (aka Covid-19) spreads at.
I call it the Honey Badger virus because of its incredible ability to evade quarantine, as eagerly and easily as Stoeffle, as seen in this short enjoyable video:
Such a determined foe as covid-19 cannot be reasoned with, halted by decree or – much to the puzzlement of the central banks – resolved by printing more thin-air money.
It simply operates by natural laws and rules. Which, by the way, makes it rather easy to predict.
Much more difficult to predict, though, is when we humans will truly wake up to our true plight and begin making better decisions. And I’m not just talking about the coronavirus here. I’m talking about the dangerous levels of social inequity that the Federal Reserve is responsible for creating, both pre- and post-covid-19.
Given the enormous difficulty in getting whole swaths of the managerial and retail classes to grasp such simple and obvious logic as “Everyone should wear a mask!”, it seems thoroughly unrealistic to expect these same folks to thoughtfully tackle the hazards of runaway monetary and fiscal policy.
But they really need to.
Why?
Because the current monetary and fiscal trajectory society is on has been well-trod throughout history. We know where it ends — no place we want to be.
Commerce gets destroyed. Households fail. Government and social order fall apart. Fairness and freedoms are lost as it becomes difficult to distinguish between official policies and overt looting.
Real leaders know this history and would both think and act differently in order to avoid the worst risks. But managers? They just keep operating from the same manual, mindlessly repeating the same steps while hoping for a different result.
The Fed’s Dangerous Gamble
I’ve referred to the Federal Reserve as a bunch of psychopaths engaging in cultural vandalism. This is unfair to both psychopaths and vandals.
After all, the most ambitious of them don’t victimize more than several dozen in their lifetime. Maybe a few hundred, tops.
But the Fed? It’s ruining hundreds of millions of lives and livelihoods — both today and in the future.
Sadly, the Federal Reserve has been doing this — unchecked — for a very long time. Here’s a snippet I wrote for MarketWatch.com 6 years ago. Every word remains as true today as it was then:
The academic name for the Fed’s current policy is financial repression. But a more apt name would be “Throw granny under the bus,” because the program boils down to taking from savers and fixed-income recipients and transferring that purchasing power to other entities.
The cornerstone element of financial repression is negative real interest rates, of which the Federal Reserve is the prime architect and owner.
From the start of the Fed’s post-crisis intervention through 2013, the total cost of these negative real interest rates was over $750 billion just to savers alone. The loss of income to fixed-income investments (such as bonds held in pensions and money markets) was even larger.
But here’s the rub. That loss of income and purchasing power didn’t just vanish. It was transferred from pocket A to pocket B.
It magically appeared again in record Wall Street banking bonuses, in shrinking government deficits (due to lower than normal interest rates), in rising corporate profits (mainly benefiting the already rich), in record stock buybacks (ditto), and in rising wealth inequality.
More directly, when the Fed buys financial assets with printed money and — by definition — drives up the price of those assets, it cannot then act mystified why the main owners of financial assets have grown wealthier. Doing so simply insults our intelligence.
(Source – MarketWatch)
For Federal Reserve Chair Alan Greenspan, then Ben Bernanke, then Janet Yellen all simply operated from the standard Fed playbook. A pathetically thin operating manual devoid of anything resembling fairness, it rests on the principal of printing currency out of thin air.
Each Fed Chairman has been simply a manager of the machinery. And current Chair Jerome Powell is following the same script
With no leadership on display and cheered on by a compliant press unable to formulate a single critical question, the Fed is now too deep into its playbook to do anything besides see the process out to its inevitable conclusion.
The Fed has long pretended to be mystified by the rising inequality its policies are obviously causing. Jerome Powell recently and (in)famously declared on 60 Minutes that the Fed “absolutely does not” contribute to inequality. That bold-faced lie is infuriating to those who realize just how socially and culturally unfair and damaging the Fed’s actions really are.
When things become too unfair, people stop participating. If laws are too one-sided and rigged, people stop following them. If new hires receive a higher salary for equivalent work, the veteran employees stop working as hard. If students know that their classmates are cheating and getting good grades, they’ll begin to cheat, too.
It’s just how we’re wired. An aversion to unfairness is in our social DNA.
Peak Prosperity readers know I’m a huge fan of this short video. It explains everything about the rising tide of social rebellion in America (and features cute monkeys, to boot!):
By unfairly accelerating the wealth gap between the top 1% and everyone else, the Fed is playing with fire. Seemingly with the same level of ignorance to the consequences as a chimpanzee with a magnifying glass on the tinder-dry savannah.
Money is our social contract.
When that contract is broken, that’s when things really go south for a nation. Zimbabwe, the Weimar Republic, Venezuela and Argentina are all past (and some current again, sadly) examples of just how badly the standard of living can plummet when a nation’s money system breaks down.
The Inevitable
It’s much harder to predict exactly WHEN the Fed’s efforts will end in disaster as easily as I can predict that they will.
History is crystal clear: there has to always be a balance between money, which is a claim on thing, and the things themselves. Too many claims vs money and we get inflation. Too few and we get deflation.
The Fed and the other world central banks have always (always!) erred on the side of “too many claims” in this story. When in doubt, they print more currency.
And that process is now on hyperdrive. The post-covid economy is in a very bad state, and so the money printing at the heart of the “rescue” efforts by the central banks is the biggest ever in history. By a long shot.
So claims go up and up and up, while the economy shrinks. Leaving us with a LOT more money chasing a LOT less “stuff”.
This also applies to financial assets, like stocks and bonds. Printing makes the markets go higher in price and makes investors increasingly dependent on more money printing to support these prices. Eventually, like the era we’re in now, the Fed must keep injecting liquidity on a permanent basis or else the markets will immediately crash.
So, the money printing just keeps happening.
And as a side benefit, those closest to the Fed get stupendously rich from all that fresh money flooding into the world. These are the same Wall Street firms who hire Fed staffers at the end of their tenure there, thanking them with plush jobs that have little responsibility and huge salary.
But, out in real America, there are hundreds of millions of us angry monkeys watching the Fed stuff grapes into the already full bellies of the elites. Eventually wide-scale pushback against the Fed’s injustice will erupt. Protests will become larger and more violent. The police weill realize that they’re protecting the wrong people and switch sides. Then things should start getting really messy.
My strong preference in life is to avoid unnecessary pain and suffering. Why wait for the Fed to ruin everything for us? I’d prefer we get pro-active here to avoid a full-blown crisis. If don’t we’ll be forced to repeat history, whether we want to or not.
Sadly, repeating history and preserving the status quo is exactly what the national managers in the US are intent on doing. Most of the public still thinks of the Fed as the hero in this story instead of the villain it truly is, and so too much of the populace cheers the Fed along. The EU and the UK are more or less in the same boat.
All of which means that, just as I warned people to prepare for the covid-19 pandemic before it hit with full force, you need to prepare now for the coming Fed-created economic/social crisis.
In Part 2: Into The Light: 8 Steps For Surviving What’s Coming, in attempt to be as informative as possible, I share a tremendous volume of the critical data points I’m currently closely monitoring to determine where we are on the timeline to crisis and what’s most likely to happen next. I then provide my eight recommended steps for protecting your wealth, loved ones, and property through the challenges to come.
Click here to read Part 2 of this report (free executive summary, enrollment required for full access).
The post Into Darkness: Where The Fed Is Leading Us appeared first on Peak Prosperity.
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Alasdair Macleod: Broadcast Available Now
Alasdair Macleod: Head of Research for Goldmoney, Inc. - Alasdair has been interviewed at CNBC as well as many other premier networks. He has been working in the financial world since 1970 and been a Member of the London Stock Exchange for nearly five decades. His experience encompasses equity and bond markets, fund management, corporate finance and investment strategy.
The post Alasdair Macleod: Broadcast Available Now appeared first on King World News.
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Alasdair Macleod
Alasdair Macleod: Head of Research for Goldmoney, Inc. - Alasdair has been interviewed at CNBC as well as many other premier networks. He has been working in the financial world since 1970 and been a Member of the London Stock Exchange for nearly five decades. His experience encompasses equity and bond markets, fund management, corporate finance and investment strategy.
The post Alasdair Macleod appeared first on King World News.
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Market Update: Triple Threat!
Since the appearance of the bearish island reversal we noted two weeks ago, stocks have struggled and so far failed to regain the highs reached earlier in June.
And another bearish island reversal happened on Tuesday:
The resistance displayed by these reversals and the resulting choppiness of trading are exactly the sort of indicators we would expect to see precede a market downturn.
At a minimum, it certainly appears that the meteoric surge in stock prices since the March bottom ended in early June. Stocks have struggled since and just closed down another 2% today alone.
So with the market suddenly struggling here, what’s more likely: a roll-over or a resumption of the rally?
We invited Charles Hugh Smith, proprietor of OfTwoMinds.com as this week’s expert guest on the program, and he reveals three key threats to the market that he thinks are dangerously underappreciated at the moment.
One, sentiment remains euphoric, yet covid-19 cases are resurging across the US. The market is currently treating the coronavirus likes it’s ancient history. If cases and deaths continue to build momentum from here and force a roll-back of lifted restrictions, stocks will be forced to price in the additional damage to the economy.
Two, the Federal Reserve is coming under increasing public criticism for how its policies and intervention are painfully exacerbating social inequity. The Fed may not be able to continue denying and deflecting, and may re-direct more of its future efforts to Main Street vs Wall Street, removing the key (only?) pillar supporting today’s asinine stock prices.
Three, entities like the Fed who make up the Deep State, which has warred with President Trump over the past four years, may have incentive to let the market crash this summer. Trump has very visibly tied his administration’s performance to that of the stock market; if the Deep State desires to deny him a second term, this is the most lethal weapon they can fire at him.
In this week’s video, we debate Charles’ “triple-threat” outlook with the the lead partners at New Harbor Financial, Peak Prosperity’s endorsed financial advisor, who then also share their latest insights into the road ahead for investors.
Suffice it to say, we are now seeing multiplying signs of market vulnerability that only the imprudent would ignore:
Anyone interested in scheduling a free consultation and portfolio review with Mike and John can do so by clicking here.
And if you’re one of the many readers brand new to Peak Prosperity over the past few months, we strongly urge you get your financial situation in order in parallel with your ongoing physical coronavirus preparations.
We recommend you do so in partnership with a professional financial advisor who understands the macro risks to the market that we discuss on this website. If you’ve already got one, great.
But if not, consider talking to the team at New Harbor. We’ve set up this ‘free consultation’ relationship with them to help folks exactly like you.
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Financial House of Cards Coming Down with Rob Kirby
from Financial Survival Network
Rob Kirby of Kirby Analytics joins the program… What’s going in the country is emblematic of what’s going on in our financial world. What’s being told to us doesn’t comport with what’s going on in the world. Rob believes there’s a shortage of gold and silver and yet the prices don’t move. But when you try to purchase PPE (personal protective equipment). The price of disposable gowns has gone up from 50 cents to $50. And that’s just one example. Rob believes that other shortages will become obvious shortly and believes there’s not much that can be done about. Buckle your seatbelt and get ready for the ride of your life.
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ALERT: Gold Will Literally Skyrocket If This Happens Next Week!
Forget the plunge in the Dow because the price of gold is where the action will be if this happens next week.
The post ALERT: Gold Will Literally Skyrocket If This Happens Next Week! appeared first on King World News.
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How Low Will It Go and For How Long? with Nick Santiago (Ep #63)
from Daily Market Wisdom with Nick Santiago
1. Nasdaq new high and now pulling back now along with the other indexes. Market has had an amazing run and is now pulling back.
2. Virus expands and that’s rattling the market. It’s probably a false blip among younger people and we won’t see much lasting results or a second shut down.
3. A lot of opportunties in the sectors we’ve been following. Housing is pulling back. They’ve had great runs but KB Homes just had bad earnings. Hotels are on the radar and have had a nice pullback, getting for setup. Airlines Nick is holding off. They never got down to his retrace level. Delta is showing some strength. Domestic routes are bouncing back. I have the insider track from a flight attendant at Spirit Airlines. The charts will tell us. Always watch for stocks that hold up in down markets. Relative strength. Restaurants are pulling back. MCD pulling back. Nick was stopped out of his second half of MCD. $170 vicinity. YUM Brands looking good.
4. PFE we are holding tight. It’s pulled back with most Pharma names. Weekly chart still looks good. Now it’s $32. Could easily get back to recent high at $38-39.
5. It’s a traders market right now. Watch the charts and turn off the news. Gold is just going sideways. Upper end of the channel. We could end up with a new all-time monthly high for June. Nick’s hoping for more consolidation. It’s had an amazing run.
For more info, go to www.InTheMoneyStocks.com.
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