COT Silver Report - August 26, 2016
GDP statistics only capture an incomplete snapshot of the economy at one moment in time. Since the economy is continually evolving, that snapshot is immediately out of date, and therefore unfit for the purpose of economic planning. Furthermore, being an incomplete picture of the total economy, GDP badly misleads policy-makers on the subject of price inflation.
When I think of all the vacations, holidays, and market “slow periods” the Cartel has deprived me peace of mind during, by attacking when everyone else is taking it easy; over a 15-year period, no less; you can see why I have never been angrier. That said, per what I wrote earlier this week, I have no regrets about my career or investment decisions – and frankly, have never been less worried.
The fact that this is my eighth “NIRP vs. Gold” article, spanning more than three years time, is all the proof you need that this unprecedentedly deformative policy is here to stay – in Peter Schiff’s words, a “roach motel” where once a Central bank checks in, it can never check out. Per the table below, replete with links to each of the first seven articles, the first was written in July 2012, mere days before Draghi’s infamous “whatever it takes” speech – when ironically, he vowed to “save” the Euro by printing as much of it as he and his unelected board of hyperinflationists arbitrarily decided.
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%.