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5.23.16 - Public Pensions At Risk! Is Your Pension Safe?

Gold last traded at $1,251 an ounce. Silver at $16.42 an ounce.

NEWS SUMMARY: U.S. stocks tried for gains Monday with materials leading amid Fed jawboning the increased likelihood of a June interest rate hike. Meanwhile precious metal prices steadied on a flat U.S. dollar.

Gold is Insurance Against Bad Guys Hitting Reset Button -Yahoo Finance
"In case you missed it, when the World Gold Council released its Q1 data, total demand for gold was up 21% year-over-year, largely due to demand for investment purposes....Demand for investment purposes was up 122% year-over-year. That says something.... If the central banks (huge buyers in recent years) get started again, watch out. So, what is it about this barbarous relic that it refuses to just go away quietly? Is it money? Is it a commodity? Quite frankly, I think it is both. There certainly are characteristics that even the most impure of monetarists can not deny: store of wealth, divisibility, and even at times of crisis, a medium of exchange. There is a likelihood that gold will play a role in the next monetary system. I look at this as insurance-a way to preserve a slice of your portfolio should the bad guys ever hit that reset button."

Because gold is real money accepted worldwide, it serves as a trustworthy wealth insurance policy against both the risks of a continued gradual economic decline, as well as a sudden overnight economic collapse anywhere in the world. Read more in our 2016 Gold Report - World Edition.

shoes Pension Fund Proposes 60% Cuts, Treasury Says "Not Enough" -Zero Hedge
"407,000 private sector workers are about to lose most of their pensions. The Central States Pension Fund, which handles the retirement benefits for current and former Teamster union truck drivers across various states applied for reductions under that law. Currently the plan pays out $3.46 in pension benefits for every $1 it receives from employers. That's a drain of $2 billion annually. The Central States Pension Fund has no new plan to avoid insolvency, fund director Thomas Nyhan said this week. Without government funding, the fund will run out of money in 10 years, he said....The plan filed for 60% cuts in pensions. The Treasury Department has the final say. The verdict came in today: 'cuts not deep enough'.When private pension plans go broke, they go broke. Public pension expect a bailout."

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As Global Risks Multiply, Gold Seen at $1,400 -Bloomberg
"Gold has soared in the opening months of 2016 as investors second-guess a wary Federal Reserve. A thicket of risks from the U.K.'s Brexit vote next month to the U.S. presidential election may lift prices even further by year-end, according to Denmark's Saxo Bank A/S. 'It's not just one risk right now,' said Head of Commodity Strategy Ole Hansen, who predicts bullion may jump to as much as $1,400 an ounce this year. 'We have got several risks, so when you start adding them up, it could be that additional risks will sway some investors to add exposure to gold or maybe revisit gold,' Hansen said in a phone interview on Tuesday. 'We have another political uncertainty later in the year with the presidential election,' said Hansen 'So these are all just adding to the reasons why precious metals have become the must-haves.'....German bank Joh. Berenberg Gossler & Co. has said it plans to increase gold holdings, betting demand will be lifted by uncertainty surrounding the outcome of the U.K. vote and the U.S. election."

Britain Advances Cashless, Contactless Revolution -The Guardian
"Britain has passed another milestone on the path to a cashless society, with 2015 the first year that cash was used for less than half of all payments by consumers. Cash usage will be eclipsed by debit cards and contactless payments by 2021, according to Payments UK, which represents the major banks, building societies and payment providers. In 2015 cash made up 45.1% of payments, compared with 64% in 2005, and is expected to fall to just a quarter by 2025. It will largely be replaced with payments by contactless cards, which have soared in popularity....But not everyone wants to join the contactless revolution. A survey last week by the security company Defender Note found that 30% of consumers want banks to ask them before issuing them with contactless cards."

A relentless 21st century march toward a cashless society is accelerating worldwide. Is this a good thing or bad thing? What are the risks to your savings and your privacy? It's all covered our Special Report The Secret War on Cash.

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5.20.16 - The War on Cash just became a Global Conflict

Gold last traded at $1,252 an ounce. Silver at $16.53 an ounce.

NEWS SUMMARY: The Dow struggled to snap a 3-week losing streak Friday amid Fed rate hike fears. Precious metals ended week with modest gains despite a firmer dollar.

Techno Cash: The War on Cash is Only Half the Story -Mises
"You can imagine the future public relations campaign. Traceable currency units will allow Official Authorities to prevent any number of terrorist attacks, drug sales, and sex traffickers, so the propaganda will read. Imagine a digital, global heat-map at the NSA with colored pins for the location of various units of currency of interest. In this light, it should be clear that state agents are not interested in a War on Cash per se, but rather: a War on Anonymity. The question becomes how best to win this war against privacy and freedom: purposely provoke active opposition to the elimination of a central fixture of American history, and for many, of Americans' daily lives; or, acquiesce to public outcry and simply swap out the old, politically incorrect currency units, for new, socially just, generally popular, globally traceable ones?"

Find out how to win the war against cash, anonymity and freedom today, read our FREE Special Report The Secret War on Cash.

gold vs fed What Happens to Gold If the Fed Raises Interest Rates -DailyWealth
"Here we go again... The Federal Reserve is threatening to raise interest rates again. This time, they tell us, the rate hike could come as soon as June. This has gold investors worried...'Gold slides on Fed rate hike expectations,' read a headline on CNBC.com yesterday. Should you worry? In short, no... The last time the Federal Reserve raised rates was from 2004 to 2006. Rates went from 1% all the way to 5.25%....The last time the Fed started raising interest rates, gold was in a bull market. And higher rates didn't hurt gold."

Gold is set to rise above Fed rate hikes for about a dozen solid reason which are all covered in our 2016 Gold Report - World Edition.

Fed Inflation Targeting Scam is a Scam -Stockman/Daily Reckoning
"The estimable Martin Feldstein put the wood to the Fed in a recent op ed and in so doing hit the nail directly on the head. He essentially called foul ball on the whole inflation targeting regime and its magic 2.00% goalposts in part due to the measuring stick challenge, saying, 'A fundamental problem with an explicit inflation target is the difficulty of knowing if it has been hit.'....On a five year basis, services inflation is up at 2.2% annually, and during the past year it has heated up to 3.2%. That's because the regular CPI gives a 25% weighting to the OER (owners equivalent rent), which is more than a little squirrely....So 90 months of essentially zero rates in the context of financial markets that have been transformed into gambling casinos can only have one result. To wit, what is coming down the pike is the Mother Of All Financial Meltdowns. And this time it will be evident to the world as to who is responsible for the resulting carnage."

Growth Rate Weighed Down by Government Inaction -NY Times
"In the seven years since the United States emerged from the Great Recession under President Obama, annual growth has averaged just about 2 percent....Unless business and government do something to improve the economy's underlying capability, the United States will be lucky to achieve even that paltry growth rate over any sustained period of time....While Donald J. Trump exploits that anger, his grab bag of proposals - deporting a large share of the work force; offering multitrillion-dollar tax cuts, mostly for the rich, that would only further widen inequality; blocking trade with much of the world; maybe raising the minimum wage, maybe not - would do nothing to bolster growth. But don't worry, it will be great....Hillary Clinton, who has put together a coherent platform focused on raising the incomes and enhancing the economic security of middle-class families, has steered clear from addressing the very real danger of low growth over the coming decades. Instead, she has promised to put her husband, who presided over the burst of growth in the late 1990s, in charge of economic policy....At the very least, the dismal forecast calls for the government to prepare for another bout of fiscal stimulus."

Eduardo Porter of NY Times really thinks bigger government and more reckless Fed fiscal stimulus is the solution to our shrinking U.S. growth? Read more about what 100 years of Progressive debasement has done to slow U.S. growth to a crawl in The Great Withdrawal.

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5.19.16 - Fed Should "Pick One Lie and Stick With It"

Gold last traded at $1,254 an ounce. Silver at $16.49 an ounce.

NEWS SUMMARY: U.S. stocks fell again Thursday after the Fed signaled the possibility of a June interest rate hike. Meanwhile, precious metal prices eased back on a firmer U.S. dollar based on Fed rate hike expectations.

The Fed keeps Wall Street guessing on rate hike -NY Post
"The Federal Reserve needs to pick one lie and stick with it. The Fed upset the financial markets on Wednesday when it released the minutes of an April 26-27 policy meeting that showed an interest rate hike is still very much on the table for June. But wait just one New York minute. After that April meeting, the Fed strongly indicated something 180 degrees different - like a hike in June was very unlikely....So which is it, Yellen?....With Wednesday’s minutes, Wall Street is confused. So am I. If you think all that’s confusing, it’s going to get worse. Right now, it looks as if the economy in the second quarter is growing at a 2.4% annual rate and inflation is picking up, largely because Wall Street speculators are driving up the price of oil....The Fed’s next policy meeting will be June 14-15. Hold onto your hats before that one."

The Shift To A Cashless Society Is Snowballing -Valuewalk
"Love it or hate it, cash is playing an increasingly less important role in society. The rise of mobile and electronic payments means faster, convenient, and more efficient purchases in most instances. New technologies are being built and improved to facilitate these transactions, and improving security is also a priority for many payment providers."

cashless

"However, there is also a darker side in the shift to a cashless society. Governments and central banks have a different rationale behind the elimination of cash transactions, and as a result, the so-called 'war on cash' is on....Our view is that going digital should be an individual consumer choice that can be based on personal benefits and drawbacks. People should have the voluntary choice of going plastic or using apps for payment, but they shouldn’t be pushed into either option unwillingly. Forced banishment of cash is a completely different thing, and we should be increasingly wary and suspicious of the real rationale behind such a scheme."

Get the full story about the government's Secret War on Cash.

Global Elite Making Preparations for Post-Dollar World -USAWatchdog
"Macroeconomic analyst Rob Kirby says his rich clients around the planet are bracing for an inevitable economic calamity. Kirby explains, 'The people I know, that I would say are at the higher level of the food chain in the global world of finance, are hunkered down and making very serious preparations. What I see on a macro level is people acting like squirrels preparing for winter. They are burying nuts and gathering as much physical precious metals as they can. They are making preparations for a post-dollar world in terms of world reserve currency.'....Kirby says, 'The dollar is going to be kicked off its perch. That is a guarantee. It’s only a matter of time.' So, what are Kirby’s clients doing now? Kirby says, 'The universal message is people are trying to get, for the most part, as much of their assets into physical precious metals as they can. Precious metal is getting increasingly hard to buy.'"

To understand the stiff competition the dollar now faces to maintain its "exorbitant privilege" as world's reserve currency, read our new 2016 World Money Report.

American Eagle sales double in 2016 -Coinworld
"Cumulative sales by the U.S. Mint of American Eagle gold bullion coins are well ahead of 2015 levels, with 1-ounce coin sales totals more than double over the same time last year. According to the U.S. Mint's sales figures through May 16, the Mint recorded sales of 381,500 ounces of gold American Eagles....The Mint sold a record 47 million silver American Eagles in calendar year 2015, a number that could have been much higher if the Mint could have secured more planchets for production and sales were not cut off in mid-December so production could shift to 2016-dated coins."

Gold is a pure asset which you can own outright without any counter-party risk or liability. Discover why gold coins are the best asset of the year in our 2016 Gold Report - World Edition.

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5.18.16 -June Rate Hike Chatter Sinks Market

Gold last traded at $1,274 an ounce. Silver at $17.13 an ounce.

NEWS SUMMARY: U.S. stocks failed to stay in positive territory Wednesday after the Fed minutes revealed a June rate hike is still being considered. Meanwhile, the Fed's statement boosted the buck and pressured precious metal prices.

Fed Hawks make a stand, but doves still rule -CNBC
"Prior to Wednesday's release of the April Federal Open Market Committee minutes, the Street was skeptical that some of the recent tough talk would lead to action. The prevailing sentiment was that all of the Fed jawboning was likely just that - talk, trying to make sure the market doesn't get too complacent about the possibility of tightening at some point this year, according to multiple experts on the Street who believe the likelihood of a June move remains low. 'They're just trying to say, Listen guys, we're serious. We're going to raise rates twice this year,' said John Canally, chief economic strategist at LPL Financial. 'A lot of it is nudging. The Fed doesn't want to surprise the market.'....The probability for a June hike stood at 17 percent by midday but popped to 30 percent after being at just 1 percent a month ago."

Gold's Bigger Picture Revealed -SATC
Swiss America CEO Dean Heskin says the gold market is now reflecting the inescapable consequences of many years of bad government and central bank economic policies. "Between 2011 and 2015 we witnessed a flushing out of short-term gold speculators. In 2016, the economic tide changed - swelling gold prices by 20% and offering a valuable entry point for those who felt they had missed the 21st century gold rush," says Heskin. Gold price dips have offered wise buyers nine major gold buying opportunities since 2006 (see chart below). The average price rebound following major price dips over the last decade is 36%!

"2016 is yet another golden opportunity to add the safest asset on earth to your portfolio. I would not be surprised to see gold prices rise above $1,400 an ounce this year," said author and Swiss America Chairman Craig R. Smith. Full story

gold chart

Seize this golden opportunity today! Protect and grow your assets with precious metals. Call or register online now for a TIMELESS TRUTH ABOUT GOLD & SILVER kit.

Negative interest rates a stealth tax -Marketwatch
"Central banks have slashed interest rates to nothing. They have printed money on a vast scale. Where that has not quite worked, and if we are being honest that is most places, they now have a new tool. Negative interest rates. Across a third of the global economy, money you put in the bank does not only generate nothing in the way of a return. You actually get charged for keeping it there. That is already producing strange, Alice-in-Wonderland economics, where nothing is quite what it seems. Governments want you to delay paying taxes as long as possible, the mortgage company pays you to stay in the house, and cash becomes so sought after there is even talk of abolishing it....As a fascinating new paper from the St. Louis Fed argues, they are in fact a form of tax. They impose a levy on the banking system that has to be paid by someone - and that someone is probably us. That may explain why central banks and governments are so keen on them."

Soros dumps US stocks, buys gold - RT
"Billionaire George Soros has cut investment in US stocks by one-third and acquired a $264 million stake in the world’s biggest bullion producer, Barrick Gold, Bloomberg reports, quoting the investor’s fund data....'Gold is always a safe haven at times when risks for investors are escalating. It’s better to sit out turbulence with gold,' economist Natalya Volchkova told the Ridus news agency. 'Soros is killing two birds with one stone. He leaves to gold, when it is cheaper so that he could profitably get rid of it in future. At the same time, he leaves the more volatile dollar for a more stable asset,' she added....Many proponents of gold in the US are suggesting that the dollar should be backed by gold again."

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