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 Replies: 18 / Views: 3,137 |
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Press Manager
 United States
1420 Posts |
 Money Metals Exchange - Welcome to this week's Market Wrap Podcast, I'm Mike Gleason. Coming up we'll hear from CEO of US Global Investors, Frank Holmes. Frank tells us why the metals have been struggling, the prospects for a supply shortage developing, and what he sees ahead for the global economy and gold and silver. Don't miss my interview with Frank Holmes, one of the most respected resource analysts in America. coming up in just a moment. Well, as markets close out the month on this final day of July, investors will have the weekend to mull over the recent tumult. And what a tumultuous month it's been for the precious metals. This week's market action has been less dramatic than in recent weeks. No midnight flash crashes or new price breakdowns. But institutional sellers in the futures markets are still ganging up on the bulls, trying to drive the monetary metals even lower. Insiders say hedge funds are more heavily positioned on the short side of the gold and silver futures markets than they've ever been. But that's one of many signs that precious metals markets have reached an extreme that historically marks turning points. Read the Entire Article
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Valued Member
United States
336 Posts |
The Fed never really stopped fearing a faltering Economy/stock market. Very little information coming out about the world/US economy has been positive enough for them to stop fearing this, hence the near zero interest rates for years. Many still predict a interest rate increase in Sept and then one to two more the following years. Data leaked by the Fed recently shows a faltering economy with those rate increases though. The Fed is still stuck in the trap they created for themselves. They know rate increases are needed, but also know they won't come without pain. They keep praying an opportune moment arises that they can make the rate increase with as little pain as possible. The question is, will a moment like this even present itself?
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Pillar of the Community
United States
1656 Posts |
'Magic beans' like PMs rose with huckster induced fear, and fell when reality became evident.
Betting the world was going to end was a silly investment strategy.
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Pillar of the Community
United States
4333 Posts |
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Betting the world was going to end was a silly investment strategy. I agree silly investment. Hedge OTOH... When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Rest in Peace
United States
17900 Posts |
If the world's ending, I'm buying food and seeds, not silver or gold. Oh, and probably just a bit of vino for the rough crowd.
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Valued Member
57 Posts |
The fed today is completely incompetent and we have passed the point of no return.
When they say they are adding assets to the fed balance sheet, what they are saying
is they are buying US Treasury Bonds from banks with a journal entry on the bank's
books. The fed gives the bank an additional credit of money, but doesn't give up
any assets itself, assets are added to the fed, bonds.
The treaury bonds are new fiat money into
the system.
You ain't seen nothing yet.
Edited by Arthur Daniel
08/02/2015 5:31 pm
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Pillar of the Community
United States
1656 Posts |
Arthur, with our economy doing so well, what makes you think the Fed is "incompetent," and how does that "incompetence" impact PMs, in your opinion?
Edited by ArrowsAndRays
08/02/2015 7:56 pm
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Pillar of the Community
United States
4333 Posts |
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If the world's ending, I'm buying food and seeds, not silver or gold. Oh, and probably just a bit of vino for the rough crowd. If the world's ending, I'll have no time for petty stuff like seeds and gold - I'll be busy maxing out a dozen credit cards and 'travelin - first class you better believe! When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
57 Posts |
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Arthur, with our economy doing so well, what makes you think the Fed is "incompetent," and how does that "incompetence" impact PMs, in your opinion? First of all who am I, I'm an older person, wealthy, spent my life working as an attorney and CPA. I know business entities and most of my life have been dealing with the government at every level. There are many government people in prison because of me disclosing criminal acts and going after them. That is how I made my money. This economy is a false economy based on the government issuing bonds, the big banks buying them, and the fed buying them with journal entries on the books of the banks, creating money, that the government is spending. It is what countries do in war when the bombs are falling and stop right after the war because no sane person would continue because the long term consequences are dire. Look at the history of Germany. The fed can't stop now, the government is addicted to the spending and stealing. Take any company that keeps issuing stock secretly and borrowing money, that is the long term future. My interest in gold is not as an investment, but I like gold, it is part of me, I mined gold for years, the best years of my life. But it has an important role in protecting your future survival. How will the future collapse of the US economy impact PMs you ask? Gold and silver is real money, you will be able to buy food when paper won't. |
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Pillar of the Community
United States
808 Posts |
I appreciate Arthur's comments above. I do think, however, it's important to understand that current US monetary and US fiscal policies are tolerated, if not outright supported, by the other major economic world powers who are pursuing similar policies and racking up impossible debt. This kind of global collusion is sustaining an otherwise untenable economic policy, effectively preventing the kind of economic instability which should force a correction. It's really quite extraordinary and unprecedented in human history.
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Valued Member
57 Posts |
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I appreciate Arthur's comments above. I do think, however, it's important to understand that current US monetary and US fiscal policies are tolerated, if not outright supported, by the other major economic world powers who are pursuing similar policies and racking up impossible debt. This kind of global collusion is sustaining an otherwise untenable economic policy, effectively preventing the kind of economic instability which should force a correction. It's really quite extraordinary and unprecedented in human history. Right, but without a correction it will truly be an historic and world changing period when the ball comes down. |
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Pillar of the Community
United States
1656 Posts |
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How will the future collapse of the US economy impact PMs
you ask? Nope, didn't ask that. The hucksters that have been pedaling nonsense like that should be jailed. |
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Valued Member
United States
336 Posts |
@ ArrowsAndRays
Just out of curiosity, what would you recommend using as a hedge against inflation during a near 0 fed funds rate? Do you argue the Fed has been doing the right thing in the past few years?
@ Arthur Daniel
What ArrowsAndRays is trying to get at is how does the incompetence of the fed effect the precious metals market? The reason it is a pertinent subject is due to the downturn in the precious metals market we are seeing right now.
Edited by EconBrony
08/03/2015 8:12 pm
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Pillar of the Community
United States
808 Posts |
Actually, part of reason why the price of gold is going down is in anticipation of the fed actually doing the right thing, and that's let interest rates rise. The fear for the fed is that an increase in interest would introduce instability to the markets and possibly cause recent gains in the economy to falter. If the fed misjudges their rate hike and messes up, it has no more tricks up it's sleeve (hard to move lower than zero) to prevent another major downturn. I'm no expert but this looks like the very definition of "living in interesting times."
Edited by coinwatch
08/03/2015 4:43 pm
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Valued Member
57 Posts |
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@ Arthur Daniel
What ArrowsAndRays is trying to get at is how does the incompetence of the fed effecting the precious metals market? The reason it is a pertinent subject is due to the downturn in the precious metals market we are seeing right now.
If you want my prediction, forecast on PM prices, which I have been very, very accurate with, for several years, here it is. I think we are currently in the final 5 wave down in the major correction. It will be either deep in price or long in time. If it goes deep instead of long gold could see $700 to $800 gold. If it goes long, prices won't go that low and the economy will have to start to break with the fed showing panic before the major up move will start. I think silver will be a better investment, all things considered than gold. Even though I'm a gold guy. If I was young and purely thinking of making money I would buy silver comfortably when silver was under $12, even though it very well may go much lower. I think in the long term you won't go wrong. I'm adding this. I think anyone under 55 years old that lives a normal life span, will see silver over $200 in the "interesting times" that are ahead. Edited by Arthur Daniel
08/03/2015 5:28 pm
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Valued Member
United States
493 Posts |
Agreed, with demand for PM's, when the economy does eventually take a dump (like it always does, in time) some of the people will be looking to liquidate anything they can get anything for. Silver will not go over $200, when you say stuff like that then nobody believe anything you say. Our government is as corrupt as ever Arthur, I don't see that your services even made a dent, although I would be interested if you could name one landmark case you were part of, if it's over, it's public.
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Replies: 18 / Views: 3,137 |
Posted 08/01/2015 12:50 pm
