This morning’s Zero Hedge headline, “it’s a scary quiet, as the past month has seen the least volatility since 1995” says it all, of how thoroughly “the powers that be” have commandeered financial markets, in the face of the ugliest imaginable political, economic, and monetary backdrop. Heck, it’s been just six days since I penned “the ugliest economic data I’ve ever seen.”
This time around is different because media consolidation and information technology make it much easier to herd sheep and confine perception. The methods of propaganda have grown in lock step with the methods that create the illusions these guide read in the tape. When the black swan arrives, and the system buckles, you get a different type of collapse. The ensuing financial panic will lead to currency non reflate-able currency crisis. And the rush to safety will ignite the long-awaited move that will have us speaking in terms ounces, rather than dollars.
It’s early Monday morning – in what is typically the slowest volume week of the year, aside from Christmas through New Year’s Eve. So slow, I have just eight articles in my “horrible headline notes” from the past 48 hours, as the entire Western world is on vacation. That said, those eight articles alone, in a freely-traded market, would be more than enough to send Precious Metal prices higher, such as the complete implosion of the tell-tale Vancouver real estate market – down 20% this month, and 25% in the past two months; and a ceasefire in Nigeria, which caused oil prices to plunge this morning. And no, last night’s PM raids had nothing to do with it, as gold and silver’s losses occurred long before oil prices moved so much as a penny lower.
According to the public affairs person at the U.S. Mint, the rumor that Silver Eagle production was halted due to lack of demand, is not true. I have been receiving lots of emails on this issue, so I decided to pick up the phone and call Michael White, public affairs person at the U.S. Mint. I have spoken to Mr. White several times over the past five years on different issues. So, instead of going by secondary channels and the blog-sphere rumor-mill, I thought it best to get it directly from the source itself.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug 22, 2016) - Golden Arrow Resources Corporation (TSX VENTURE: GRG)(GAC.F)(GARWF)(WKN:A0B6XQ), "Golden Arrow" or the "Company") is pleased to announce that its common shares are now trading on the OTCQB® Venture Market in the United States under the symbol "GARWF."
"Admission to the OTCQB market is part of a long-term strategy to broaden our shareholder base, improve liquidity and increase the visibility of our company," said Joseph Grosso, President and C.E.O. "We are pleased with our admission to trade on the OTCQB, as this provides us with a trading platform for American investors."
This weekend, I’m going to act as your “spirit guide,” in our ongoing quest to save ourselves from the Hitler-esque “elites” that have commandeered monetary policy and financial markets – in the process, destroying global economic activity, political stability, and fiat purchasing power. This same scenario has played out hundreds of times throughout history, with the same ultimate result. Which is, total destruction of citizens’ savings, and a total loss of faith in the governments and Central banks issuing them. Only this time, for the first time in history, not a single nation’s currency is backed by anything except faith – which is rapidly collapsing, as the average global currency is at, near, or in many cases well below its all-time low valuation. And for those that think I’m “puffing,” here’s proof of what I speak. First, the average currency decline against the U.S. dollar – i.e., the “reserve currency” that’s been printed more than any other – since the 2008 crisis, of a whopping 42%.
Physical precious metals investing requires a tough skin, and an open mind willing to grasp a much bigger picture. It also requires the painful admission that just as the past cannot be reincarnated - no one can predict a future that does not exist with certainty. It is a struggle against the religion of fiat finance and the layers of myth, folklore, and idols come and gone. And yet, there will forever exist the group of sound money advocates who cannot help go down the road of making price predictions. Who can blame them?
As I have been noting of late, both gold and silver have been trapped in sideways trading patterns for some time now, meaning that there really has not been a whole lot worth saying about the price action in either metal. That MIGHT POSSIBLY be changing in regards to silver. The reason is simple – price is down at the very bottom of the sideways trading range that has been intact for nearly seven weeks.
COT Silver Report - August 19, 2016
The gold price rose $11 from last Friday’s close to trade at $1347 early in European trade this morning, while silver declined 14 cents over the same period to $19.57. Volumes on Comex have dropped off noticeably this month, consistent with the holiday season. However, these are the conditions which favour the bullion banks, allowing them to take over pricing control. When the speculators are on holiday, prices can be marked down unchallenged, allowing the bullion banks to close down their shorts profitably. But even though open interest remains high by historic standards, this is not happening.