January Blog Archives 2017

Gold last traded at $1,211 an ounce. Silver at $17.54 an ounce.

NEWS SUMMARY: Precious metal prices rose sharply Tuesday on safe haven buying and falling dollar. For the month, gold prices rose over 5% while silver prices rushed up over 10%. U.S. stocks fell sharply amid rising political uncertainty ahead of Wednesday's Fed statement. Stocks ended the month about where they began the year.

Here’s why the Trump-ban selloff may just be the tip of the iceberg -Marketwatch
"'This week was supposed to be dominated by central banks’ decisions, earnings, and economic data from across the globe, but with Donald Trump in office, nothing seems capable of taking the spotlight from the White House.' That was FXTM strategist Hussein Sayed in a note that pretty much nails the mood....Much debate now surrounds just when to start worrying about politics in earnest, and Sayed has one answer: 'The major risk looming now is the breakup of the Republican coalition, although this doesn’t seem to be the case for now. I believe it’s going to be the biggest risk to financial markets in the near future, as we end up with protectionist policies without the implementation of fiscal policies, thus triggering a sharp reversal in stocks worldwide.'"

Dean Heskin Comment: The problem with the stock market's climb since Nov. 9th is that it's mostly based on confidence versus substance. Therefore, when uncertainty creeps in, there's no substance to fall back on. As Mr. Trump continues to peel back the band aid covering the last several years of irresponsible fiscal policy, the real fear is what may be exposed. If/when that happens, the cat will be out of the bag and it could prove to be a most exciting time to be positioned in precious metals.

Gold Gains as Trump Shocks Markets by Doing What He Said He’d Do -Bloomberg
"Gold rose for a second day, set for its biggest monthly gain since June, on investor concern over moves by Trump that included barring entry by citizens from seven predominantly Muslim nations and firing the acting U.S. attorney general for refusing to enforce the order.....'The gold market is in thrall to the Donald Trump show,' David Govett, head of precious metals trading at Marex Spectron, said by e-mail from London. 'If Trump sticks to his immigration policy of the last few days, then gold should remain supported.' 'Uncertainty will keep equities and the dollar soft as the market comes to terms with the fact that Trump is the first politician in living memory, or ever, to actually enact every electoral promise he had made to the letter,' Jeffrey Halley, a senior market analyst at Oanda Corp. in Singapore, said by e-mail. 'Gold and other safe-havens should be the main beneficiaries.'"

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Just Doing His Job -Stein/American Spectator
"By a great stroke of luck, I read frequently about immigration law. One of my best friends, Nolan Rappaport, is a nationally renowned lawyer/expert on immigration law....I have learned that the President, through many decades, has been given by Congress immense latitude in enlarging or diminishing immigration. Mr. Obama could admit about as many Muslims as he wanted. Mr. Trump can keep out as many Muslims as he wants....Second, the media is acting as if the whole nation is in rebellion over the EOS on immigration. Not quite. Maybe a few tens of thousands have turned up at airports to torture the weary traveler trying to earn a living. But this is a nation of 335 million. Maybe 1/100th of one percent are blocking traffic. The rest of the country is trying to get to work or to ski. Third, demonstrators, ask yourself this. 'Why did Mr. Trump issue those executive orders? Did he do it just to give you an excuse to cut class? Did he do it to raise your blood pressure?' Or did he do it because he is trying to fight terrorism? ....'He is keeping his promises to the voters. He’s not kowtowing to the Washington establishment or the mainstream media. When was the last time you saw a President do that?'"

The United States Is On The Precipice Of Widespread Civil Unrest -Snyder/EconomicCollapseBlog
"It doesn’t take much of a trigger to push extremely large crowds of very angry protesters into committing acts of rioting and violence. And rioting and violence can ultimately lead to widespread civil unrest and calls for 'revolution'. The election of Donald Trump was perhaps the single most galvanizing moment for the radical left in modern American history, and we have already seen that a single move by Trump can literally cause protests to erupt from coast to coast within 48 hours....But the truth is that Trump does not hate any group of people. His target is simply Islamic terror, and he is actually pro-immigration as long as it is legal immigration. Let us not forget that his wife is a legal immigrant. I know that Trump is quite eager to get things done, but putting out this executive order at this particular moment was definitely a case of poor timing....This is a time for the peacemakers. If there are any left in Washington, we need them to rise up now and try to bring healing before it is too late."

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Gold last traded at $1,196 an ounce. Silver at $17.15 an ounce.

NEWS SUMMARY: Precious metal prices rebounded on Monday amid rising market uncertainty and a weaker dollar. U.S. stocks fell sharply on growing investor concerns over president Trump's immigration policies.

GOLD: The Complete Investor’s Guide From the Smartest Guy In the Room -Hedge Eye
"On the one hand, you've got the gold bugs. They long for the good old days when the U.S. dollar was backed by the precious metal. On the other hand you've got clueless financial journalists derisively dismissing it as 'just a rock.' Both may be missing the point. Gold is a currency, says Goldmoney co-founder Josh Crumb....Most investors don't truly understand the long-term case for owning gold, according to Crumb. 'People want to bean count gold like it's oil or copper,' Crumb says. That's misguided....The best proof of gold’s stability as a currency is that, in the more than four decades since abandoning the Gold Standard, gold has maintained its value....This is why people should own gold, Crumb says. The stability of gold over long periods of time, is compelling, especially in an era of increased central bank meddling. Crumb suggests slowly adding your gold position on pullbacks like we've just had."

Mr. Crumb is spot on regarding the importance of how we perceive gold. Swiss America's 2017 newsletter, Volatility's Last Stand, explains the importance of viewing gold as money - the ultimate ‘numeraire,’ as Craig Smith puts it - only then will you find gold's daily price movements much less important over the long-term. Also, check out our 2017 Gold Report - Early Edition

The Honeymoon Is Ending: Angry Wall Street Traders Slam Trump, Warn Next Move Is Lower -Zero Hedge
"It appears that Wall Street's nearly 3 month honeymoon with Trump is ending. Because no matter how much the courts or public pressure force the watering down of Trump’s immigration order, Bloomberg's Mark Cudmore warns that 'the long-term damage to Brand USA has been done.'....Expect U.S. equities and the dollar to suffer. The framework has shifted negatively, not just in the short-term but long-term as well....If the game changes on you, it requires a change in strategy. For your sanity as well as P/L....It seems Trump's grace period on Wall Street is finally coming to an end."

To help our readers prepare for this widespread economic "sea change" under the new Trump administration in 2017, read America's First 100 Days - Free Special Report

The Dollar Will Die With a Whimper, Not a Bang -Rickards/Daily Reckoning
"The same force that made the dollar the world’s reserve currency is working to dethrone it....By the end of the First World War, the U.S. had emerged as a major creditor nation and a major gold power. The dollar’s percentage of total global reserves began to soar....Slippage in the dollar’s role as the leading global reserve currency is not necessarily something that would happen overnight, but is more likely to be a slow, steady process.... In 2000, dollar assets were about 70% of global reserves. Today, the comparable figure is about 62%. If this trend continues, one could easily see the dollar fall below 50% in the not-too-distant future....The decline of the dollar as a reserve currency started in 2000 with the advent of the euro and accelerated in 2010 with the beginning of a new currency war. In his 1925 poem The Hollow Men, T. S. Eliot writes: 'This is the way the world ends/ Not with a bang but a whimper.' Those waiting for a sudden, spontaneous collapse of the dollar may be missing out on the dollar’s less dramatic, but equally important slow, steady decline. The dollar collapse has already begun. The time to acquire inflation insurance is now."

Is California Really Going to Secede? -NY Magazine
"Since Donald Trump became president while securing less than a third of the vote in California, the Yes California campaign - a.k.a. Calexit - has gotten a lot of attention and perhaps even some momentum in getting an initial measure placed on the 2018 general election ballot. An estimated 7,000 volunteers have begun amassing the 585,407 signatures necessary to place a constitutional amendment on the 2018 ballot deleting the state’s adherence to the United States and authorizing a 2019 referendum on independence....Having said all that, the process required to make Calexit a reality is not just daunting: It’s basically impossible....In any case, it ain’t happening - but it’s still a convenient lightning rod for real West Coast fury....There’s nothing like the prospect of secession to dramatize Americans’ very real differences."

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Gold last traded at $1,188 an ounce. Silver at $17.13 an ounce.

NEWS SUMMARY: Precious metal prices traded mixed on Friday after touching 2-month highs this week on dollar weakness. U.S. stocks slipped on falling oil prices and disappointing U.S. GDP data.

GDP shows economy slows to 1.9% growth -Marketwatch
"The U.S. economy’s expansion slowed in the fourth quarter, and annual growth failed to reach 3% for an 11th straight year, reflecting the huge hurdles the Trump administration faces in trying to speed up a 7½-year-old expansion. Gross domestic product, the official score card for the economy, expanded at a 1.9% annual clip from October to December, the Commerce Department said....For the full year, the U.S. grew just 1.6%, compared with its 2.6% clip in 2015. It was the weakest performance since 2011....Most predict the economy will grow around 2% or a bit faster in 2017. If Trump’s approach works, the payoff is unlikely to come until the end of the year or early 2018, they say."

Gold Exports to China Soar in Run-Up to Year of the Rooster -Bloomberg
"Gold exports to China soared in the run-up to the start of the Lunar New Year, with volumes increasing in December from major suppliers Switzerland and Hong Kong....China is the world’s top gold consumer, according to data from researcher Metals Focus Ltd., and the start of the Year of the Rooster this week is associated with gifting the precious metal. Lower prices at the end of last year, brought on by a stronger dollar as the U.S. increased interest rates, supported demand. 'Things have improved from where they were for much of the third quarter,' Nikos Kavalis, an analyst at London-based Metals Focus, said before the data was released. 'Much of that is on the back of the dip in prices. Retailers held back while prices were elevated, so there’s a bit of pent-up demand.'"

Our 2017 Gold Report - Early Edition reveals dozens of common sense reasons why owning physical gold is vital. Given today's political and economic unknowns, gold is no longer a luxury - it's a necessity!

Europe Proposes "Restrictions On Payments In Cash" -Zero Hedge
"Having discontinued its production of EUR500 banknotes, it appears Europe is charging towards the utopian dream of a cashless society. Just days after Davos' elites discussed why the world needs to 'get rid of currency,' the European Commission has introduced a proposal enforcing 'restrictions on payments in cash.' With Rogoff, Stiglitz, Summers et al. all calling for the end of cash - because only terrorists and drug-dealers need cash (nothing at all to do with totalitarian control over a nation's wealth) - we are not surprised that this proposal from the European Commission (sanctuary of statism) would appear....The Action Plan states that 'Payments in cash are widely used in the financing of terrorist activities… In this context, the relevance of potential upper limits to cash payments could also be explored. Several Member States have in place prohibitions for cash payments above a specific threshold....'While being allowed to pay in cash does not constitute a fundamental right, the objective of the initiative, which is to prevent the anonymity that cash payments allow, might be viewed as an infringement of the right to privacy enshrined in Article 7 of the EU Charter of Fundamental Rights.'"

Would Donald Trump Really Put America Back on the Gold Standard? -Fox Business
"Trump may not be alone in his interest in returning the U.S. to the gold standard. Some of Trump's biggest campaign rivals, including Ted Cruz, Mike Huckabee, and Ben Carson, have all implied some degree of support for the gold standard, with Cruz being the clear top supporter among these three....According to a 2015 poll from Gallup, 39% of respondents approved of the gold standard in the U.S., compared to just 15% who disapproved. Yes, that does mean 46% of respondents were undecided, but it nonetheless demonstrates pretty strong favorability toward the gold standard based on those who gave a definitive response....While we're probably not going to see a large rally in the price of gold anytime soon based on a return to the gold standard, gold itself has plenty of reasons it could head higher....Any aspect of Trump's reforms that fail to live up to expectations could be a catalyst for gold....Supply and demand is a final reason why gold could be a worthwhile holding for investors' portfolios."

Watch out for a Trump-Yellen showdown -CBS News
"U.S. equities moved to new records on Tuesday, thanks to an aggressive $1 trillion infrastructure spending plan proposed not by President Donald Trump but by congressional Democrats looking to retake the initiative....Of course, what’s enabling all this crushing of volatility has been the historic experiment with ultra-cheap monetary policy from the Federal Reserve -- a policy that’s set to change this year....Wall Street will be reminded of Yellen’s suddenly hawkish stance when the Fed holds its next policy meeting at the end of the month. All this raises some questions. Why has Yellen changed her view? Is this merely political payback against Mr. Trump’s claims of Fed bias?....Starting with next week’s Fed policy statement, watch for Wall Street to pay increased attention to Yellen-Trump tensions. Because with the Democrats apparently playing along, Fed rate hikes represent the single greatest threat to the GDP growth Trump needs to pay for his fiscal largesse without blowing out the national debt."

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Gold last traded at $1,188 an ounce. Silver at $16.82 an ounce.

NEWS SUMMARY: Precious metal prices slipped Thursday amid profit-taking and and a firmer dollar. U.S. stocks traded mixed as Trump euphoria took a breather after sanguine corporate forecasts and rising jobless claims.

Why the gold price might be set for a rebound -CNBC
"Gold prices have been under pressure ever since the rally in global stocks and dollar following Donald Trump's victory in the U.S. elections. But a report from UBS says that investors are scaling back optimism that emerged shortly after the U.S. elections, and this is reflected in the recovery of gold prices. 'We think this is warranted and see room for gold to extend upwards as markets digest uncertainty around U.S. fiscal policy.'....Earlier this week gold prices hit two-month highs buoyed by a weaker dollar and uncertainty surrounding President Trump's policies. UBS in its research note said from a short-term perspective gold has already recovered considerably, with over 5 percent of gains so far in 2017. But the growing weakness in the U.S. dollar could push gold prices higher. Last week President Trump's shocking comments that the dollar is too strong sent the greenback tumbling to a six week low."

As we cover in our 2017 Gold Report - Early Edition ... "The discord surrounding the 2016 US election is clear evidence that political volatility in America is here to stay. As a result, there is perhaps no better moment in time to diversify with the enduring value of the world’s oldest money than now."

The 20,000 Dow (Priced In Gold) -New York Sun
"'Great!' tweets President Trump in respect of the Dow, which closed above 20,000 for the first time in history....For the record, though, the Dow, calculated in the classical measure of value, is nowhere near its high, even if it has been moving in the right direction. That was made recently by a point made by the Web site PricedinGold.com. It maintains, among other things, a chart of the Dow measured in gold. Its all-time low was the equivalent of 1.3 ounces of gold, struck at 1980, just as Americans were preparing to step back a bit from Keynesian principles and elevate Ronald Reagan to the White House. From there the Dow in gold began a steady and historic climb, peaking in August 1999 at a bit over 49 ounces of gold. PricedInGold.com reckons that on the day Mr. Trump was inaugurated, the Dow was at 18.1 ounces of gold."

The Dow just hit 20,000, but half of America missed out -Yahoo Finance
"On Wednesday, the Dow Jones Industrial Average traded above 20,000 for the first time....Unfortunately, however, many Americans missed out. Back in April 2016, Gallup conducted its latest annual poll showing that just 52% of American adults owned stocks, via either individual issues, mutual funds, or self-directed 401(k) plans. This matched the lowest ownership level in Gallup’s 19-year tracking of this measure....Additionally, stagnant incomes for most Americans over the last several decades have simply left many households with less money or no money available to put aside for retirement savings."

There’s a perfect storm coming for the dollar, says chief currency strategist -CNBC
"There is a fundamental case for the dollar to fall further from here, Unicredit's chief currency strategist told CNBC's Squawk Box on Tuesday. The U.S. currency is hovering around a six-week low after comments leaked on Monday from U.S. Treasury Secretary nominee Steve Mnuchin regarding potential short-term hits to the country's economy from an 'excessively strong dollar.' These remarks are just one factor to suggest the dollar is set to lose further ground in coming months, according to Vasileios Gkionakis, head of global FX strategy at Unicredit. 'I think it is quite overvalued relative to where real rate differentials were suggesting it would go,’ Gkionakis said, adding that the dollar's 30 percent appreciation between the summer of 2014 to the end of 2016 demonstrated that there is already a lot of optimism priced in....'I think 2017 is going to be a year where we see a weaker dollar across the board,' Gkionakis concluded."

Chinese Robots May Fill the Factory Jobs Trump Wants -New York Times
"Industrial robots - which come in many shapes and perform a range of factory jobs, from huge, precisely controlled arms used to build cars to graceful machines that package delicate pastries - were invented in the United States. But in the last few years the Chinese government has spent billions to turn China into the world’s robotic wonderland. In 2013, China became the world’s largest market for industrial robots, according to the International Federation of Robotics, an industry trade group. Now China is working on another big goal: to become the largest producer of robots used for factories, agriculture and a range of other applications....Frank Tobe, the publisher and editor of a trade magazine called The Robot Report, said government investment was imperative. 'We better do something, or we're going to be behind the gun,' he said. 'We should be in the robot business, not just users of foreign robots.' If we don’t, robot scholars said the president’s plans for a resurgence in manufacturing could backfire. Today, we buy a lot of stuff made in China by Chinese people. Tomorrow, we’ll buy stuff made in America - by Chinese robots."

"Robots with Artificial Intelligence could replace humans in up to 47 percent of today’s jobs, from hamburger flippers and factory workers to truck drivers, according to a report issued December 20, 2016, by the White House." Full news release

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Gold last traded at $1,197 an ounce. Silver at $16.98 an ounce.

NEWS SUMMARY: Precious metal prices traded lower Wednesday on profit-taking amid Dow 20k euphoria. U.S. stocks rallied on investor momentum and rising economic optimism amid sweeping changes proposed by the Trump administration.

Dow crosses 20,000 on reinvigorated Trump rally -Reuters
"The Dow Jones Industrial Average traded above 20,000 for the first time and world stocks hit 19-month highs on Wednesday on strong Japanese trade data, stellar European corporate results and investor enthusiasm over U.S. President Donald Trump. The president's signing of numerous executive orders since his inauguration last Friday has reignited a rally that began after his election victory in November....The Dow's move since Nov. 22, when it first closed above 19,000, has been spearheaded by financial stocks, with Goldman Sachs and JPMorgan together accounting for about 20 percent of the gain. The two banks have benefited as investors bet Trump's expected fiscal stimulus will trigger inflation and stoke a rise in interest rates....Lingering concerns about growing protectionism and the potential negative effects on global trade and growth remained close to the surface."

Why the 'Trump Rally' may be overdone -USA Today
"If it’s true the big money is made investing in the stock market when share prices are depressed and the economy is in shambles, there’s a good chance the optimism surrounding the 'Trump Rally' might be overdone. Future stock market returns are largely determined by financial and economic conditions that exist at the start of an investment period. Generally speaking, the odds of reaping bigger gains improve when the market and economy are depressed - not when the stock market is at all-time highs and a lot of optimism is already built into prices. That’s why it's unlikely stocks under President Trump will generate the kinds of returns they did under President Obama....The stock market's bull run, now nearing its eighth birthday, may have less long-term upside potential now than it did in the dark days of early 2009, despite the euphoria around what Wall Street perceives as Trump’s business-friendly agenda."

You're Buying, They're Selling: Big Bank Execs Dump $100 Million In Stock As Market Soared -Zero Hedge
"Shortly after the melt-up in US bank stocks began following Trump's election victory, we noted heavy insider-selling (and options expiration) among Goldman Sachs executives. Well the selling never stopped, as WSJ reports executives at the biggest Wall Street banks have sold nearly $100 million worth of stock since the presidential election, more than in that same period in any year over the past decade. As we detailed in mid-November, while the mainstream media proclaims the surge in bank stocks as heralding a new dawn in everything-is-awesome-ness for America, we note that insiders at Goldman Sachs sold $205 million of stock since Nov. 8, company filings show...So who is the sucker at this table? Dick Bove gets it... 'banks won't be able to hold on to the earnings boost they get from higher interest rates. The hole in the bottom of the piggy bank, as he described it, would be that higher rates would also hurt the value of financial assets held by the bank, thus leaking out any benefits from increasing borrowing costs.'"

Gold Pressured By Rallying World Stock Markets -Forbes
"Gold prices are moderately lower in early U.S. trading Wednesday, as a 'risk-on' trader and investor mentality is prevalent in the world marketplace this week - evidenced by world stock markets that are on the rise. Profit taking from recent gains is also featured today, as gold prices on Tuesday hit a two-month high. February Comex gold was last down $7.20 an ounce at $1,203.50. March Comex silver was last down $0.24 at $16.945 an ounce....The U.S. dollar index is lower Wednesday morning. The index Tuesday hit a six-week low. Recent selling pressure has produced early technical clues the dollar index has put in a market top. Dollar index prices have been trending lower for three weeks."

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Gold last traded at $1,210 an ounce. Silver at $17.18 an ounce.

NEWS SUMMARY: Precious metal prices eased back Tuesday on a firmer dollar and mild profit taking. U.S. stocks moved higher as investors focused on a flurry of earnings reports.

Make Money Great Again - An Executive Order for Equal Treatment of Gold, Silver and United States Dollars as Money -White House
"We The People request the new administration Make Money Great Again; that gold and silver may freely be used as money alongside United States dollars. The Constitution explicitly recognizes gold and silver as money. We therefore petition that: - All tax discrimination against gold and silver must cease, including the removal of all capital gains tax on holdings of, and transactions in gold and silver, and; - That all impediments to using gold and silver as constitutionally-recognized money be removed. We Petition the Administration to sign this Executive Order to Make Money Great Again: www.mmga.org"

Robots Get Rights as “Electronic Persons” -News Release/WordPress
"Robots with Artificial Intelligence could replace humans in up to 47 percent of today’s jobs, from hamburger flippers and factory workers to truck drivers, according to a report issued December 20, 2016, by the White House. Many millions of people will be unemployed and in need of money. The government at the same time will lose trillions in revenue from jobless, broke former taxpayers. This could devastate the world economy. Government will increase reckless printing of money out of thin air, destroying the dollar’s value. Taxes will skyrocket. In their latest book, Money, Morality & The Machine: Smith’s Law in an Unethical, Over-Governed Age, Craig R. Smith and Lowell Ponte predicted that the European Union would turn to strange measures – and in early 2017 they have. The EU, exactly as Smith and Ponte warned, moved in January to make robots 'electronic persons.' It did this so that all kinds of robots can be made to pay tax – especially the steep retirement tax – that the robots, which never 'retire,' will never receive as retirement benefits." Full release

Doomsday Prep for the Super-Rich -New Yorker
"Survivalism, the practice of preparing for a crackup of civilization, tends to evoke a certain picture: the woodsman in the tinfoil hat, the hysteric with the hoard of beans, the religious doomsayer. But in recent years survivalism has expanded to more affluent quarters, taking root in Silicon Valley and New York City, among technology executives, hedge-fund managers, and others in their economic cohort....In recent years, survivalism has been edging deeper into mainstream culture. In 2012, National Geographic Channel launched 'Doomsday Preppers,' a reality show featuring a series of Americans bracing for what they called S.H.T.F..... The premiere drew more than four million viewers, and, by the end of the first season, it was the most popular show in the channel’s history....To Max Levchin, a founder of PayPal.... prepping for survival is a moral miscalculation; he prefers to 'shut down party conversations' on the topic. 'I typically ask people, ‘So you’re worried about the pitchforks. How much money have you donated to your local homeless shelter?’"

Billionaire Mario Gabelli shares his favorite stock ideas for the Trump economy -CNBC
"Value investor Mario Gabelli, founder and CEO of Gamco Investors, shared his top stock picks and market views in an exclusive interview with CNBC's 'Squawk Box' on Tuesday. On the Donald Trump economy: 'Fiscal stimulation is going to offset any drag from monetary slowdown,' he said. 'Inflation is coming back. ... Earnings are going to go up sharply in the next 12 months.' On his top stock ideas: 'We like companies with pricing power,' Gabelli said. 'Anything in the consumer products area. ... The supermarkets, for example, because food and fuel are going to rise.'"

Demonetization: The Sinister Agenda Behind Washington’s “War On Cash” -Global Research
"It’s kinda sneaking up on us like an East Texas copperhead pit viper. It began to get some wide attention in 2016, with prominent economists and financial media suddenly talking about the wonderful benefits of a 'cashless society.' Then the government of Narenda Modi completely surprised his citizens by suddenly announcing withdrawal of larger denomination currency notes from circulation, forcing Indians to put their cash into banks or lose it. Now, everywhere we turn, it seems, someone is arguing the Nirvana benefits of a cashless, 'digital' money world. It reminds me in an eerie way of a statement attributed to then US Secretary of State, Henry Kissinger in the 1970’s. He reportedly stated, 'If you control oil, you control entire nations; if you control food, you control the people; if you control money, you control the entire world.' ....The US War on Cash, combined with the US Treasury and IRS war on offshore banking is their latest model. As Washington’s War on Terror had a sinister, hidden agenda, so too does Washington’s War on Cash. It’s something to be avoided at all costs if we human beings are to retain any vestige of sovereignty or autonomy."

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Gold last traded at $1,215 an ounce. Silver at $17.18 an ounce.

NEWS SUMMARY: Precious metal prices rose Monday on safe haven buying and a weaker U.S. dollar. U.S. stocks traded lower amid Trump corporate tax and trade policy jitters and weaker oil prices.

Gold Futures Jump to Two-Month High as Dollar Sags -Bloomberg
"Gold futures rose to the highest since November as protectionist signals from the Trump administration unsettled financial markets and weakened the dollar, spurring demand for the metal as a haven. Copper and other industrial metals also climbed. Bullion headed for a second straight gain as the Bloomberg Dollar Spot Index fell to near the lowest in a month. Gold has risen more than 5 percent this year, helped by a decline in the U.S. currency that’s boosting the appeal of metals as alternative assets....'It’s becoming increasingly apparent that economic activity in the U.S. under this new president may not be as stellar as many have thought,' said Bart Melek, the head of commodity strategy at Toronto-Dominion Bank in Toronto. 'The U.S. dollar has been dropping. That’s a positive outcome for gold.'”

Swiss America's 2017 newsletter, Volatility's Last Stand, will help you discover how to keep your wealth safe by hedging an unstable future using the world's most stable form of money, which remains 100% under your own control.

All investment decisions must be re-evaluated as the Trump era dawns -Marketwatch
"Stock market braces for sea change as Donald Trump takes charge. Much about President Donald Trump’s policies remains shrouded in mystery but there is one thing that Wall Street appears to be certain of - nothing will be the same. And as a fog of uncertainty continues to envelop the market, strategists are urging investors to prepare for the unexpected...Say goodbye to the old U.S., said Mark Grant, chief strategist at Hilltop Securities. In its place will be a country that is run as a business with businessmen in charge. As a result, he said, all investment decisions must be re-evaluated with the mantra of 'America First' in mind."

To help our readers prepare for this widespread economic "sea change" under the new Trump administration in 2017, we have assembled some of the key proposals high on the President-Elect’s priority list we believe could influence global markets, the domestic economy and your investments in the coming year. America's First 100 Days - Free Special Report

Inflation a Very Big Problem for Consumers -Morningstar
"For almost two years, headline inflation has run well below core inflation and hourly wage growth. That has been very beneficial for the consumer, who has been driving almost all of the economic growth in the U.S. recently....Unfortunately, the gap between headline and core inflation has closed considerably....We don't think even 2.8% inflation would trigger a full-blown recession. However, our past work suggests that as headline inflation approaches 4%, recession cannot be very far behind....If consumers rent, use a lot of medical care, and use a lot of energy, inflation could look pretty nasty, as much as 4% or 5%."

President Trump Declares Independence -Noonan/Wall Street Journal
"He presented himself not as a Republican or a conservative but as a populist independent. The essential message: Remember those things I said in the campaign? I meant them. I meant it all....It was an unmistakable indictment of almost everyone seated with him on the platform. Then a stark vow: 'That all changes - starting right here and right now.' Jan. 20 'will be remembered as the day the people became the rulers of this nation again.'....The columnists, thinkers and magazines of the right were mostly NeverTrump; some came reluctantly to support him. His party is split or splitting. The new president has gradations of sympathy, respect or support from exactly one cable news channel, and some websites. He really has no one but those who voted for him. Do they understand what a lift daily governance is going to be, and how long the odds are, with so much arrayed against him, and them?"

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Gold last traded at $1,204 an ounce. Silver at $17.03 an ounce

NEWS SUMMARY: Precious metal prices rose Friday on a weaker dollar and rising uncertainty as President Trump takes over U.S. political leadership. U.S. stocks also cheered despite fears of Trump protectionist policies ahead.

Trump pledges 'America first' creed, says 'you will never be ignored again' -CNBC
"Donald J. Trump preached the populist and nationalist message that fueled his presidential campaign in his first remarks as the 45th president of the United States, pledging an 'America first' creed....As raindrops fell on the crowd gathered on the National Mall, Trump said he planned to 'transfer power from Washington, D.C.' to the people, taking swipes at politicians, some of whom stood just over his shoulder. He told Americans that 'you will never be ignored again,' repeating his campaign pledges to push companies to return jobs to the U.S. and to rebuild American infrastructure." Full Inaugural Address Transcript

Investors Need to Look Well Beyond the Inauguration -Bloomberg
"One of the best ways to plan for the long-term is by setting reasonable expectations. What's considered reasonable based on where we stand today? Hint: Lower your expectations for future stock market returns in the U.S., expect higher returns in foreign equities and brush up on your bond math....The U.S. is the most expensive market across every valuation metric, but that makes sense given the huge outperformance over the past five years....Unlike stock market performance, bond returns are more or less governed by math....Also, expect an uptick in volatility in bonds because the yields are much lower than they have been historically, meaning the same change in interest rates will have a greater effect now on bond prices than they would have at higher rates in the past."

FREE REPORT! From repealing Obamacare and rolling back regulations, to controlling the border and cutting taxes - the Trump agenda has both implications and ramifications. This insightful report also includes Trump's 26-point comprehensive "Contract With The American Voter". To request your complimentary copy call 800-289-2646 or register HERE.

Bullion Bulls Have History on Their Side as Trump Takes Helm -Bloomberg
"Gold bulls wagering the bullion rally has more room to run may have history on their side with the arrival of a new U.S. president....Gold has averaged gains of almost 15 percent in years marking the inauguration of a new president since the 1970s, advancing in five of those seven years. In contrast, the S&P 500 index of equities declined in four of those years for an average loss over the period of 0.9 percent....The metal has climbed almost 5 percent this year as questions over the possible economic impact of Donald Trump’s policies add to investor angst over Brexit and mounting trade frictions. Bulls reason that gold will extend its gain as scant details of Trump’s fiscal stimulus program and tensions with trading partners including China unnerve investors. 'We have no idea what’s going to happen with some of Trump’s policies - everybody is a little nervous,' said Axel Merk, San Francisco-based founder of Merk Investments LLC, which manages $300 million in assets. 'Gold is relatively undervalued and will push higher.'"

Washington Prepares to Be Upended by President Trump -New York Times
"Donald John Trump was inaugurated as the 45th president of the United States on Friday, ushering in a new and more unpredictable era in which he vowed to shatter the established order and restore American greatness....He said the inauguration represented not just the peaceful transfer of power from one party to another. 'We are transferring power from Washington, D.C., and giving it back to you the people,' he said....Within hours of taking office, the new president could begin signing executive orders freezing regulations put in place in the last weeks of Mr. Obama’s tenure and reversing policies on health care, immigration and other areas. His son Donald Trump Jr. said the new president was coming to grips with the gravity of his new position, even if it did not necessarily seem so in public. 'He’s been humbled by the whole process,' he said on MSNBC."

We are pleased to hear that America's newest politician feels "humbled" and hope he remains humble. As discussed in our 35th Anniversary Real Money Perspectives newsletter, Volatility's Last Stand ..."Perhaps Trump has learned it takes pride to get elected (get the deal) and humility to govern wisely (keep the deal). Time will tell if President Trump can live up to his new Secret Service handle ('Humble') and if his proud showmanship will give way to humble statesmanship. 'Humility is the most difficult of all virtues to achieve; nothing dies harder than the desire to think well of oneself,' said essayist and playwright T.S. Elliot."

Trump Inaugural Address Focuses On ‘We,’ Leaves Himself Out Of Speech Almost Entirely -Daily Caller
"The first time Trump referred to himself came about halfway through the speech, when he said: 'The oath of office I take today is an oath of allegiance to all Americans.' Trump’s other two references to himself came shortly afterwards. 'I will fight for you with every breath in my body - and I will never, ever let you down,' Trump said. That was the extent to which Trump gave himself any mention in his inaugural address. He referred to 'we' the American people 45 times over the course of the address, including a string of mentions at the end of his speech, playing off his 'Make America Great Again' slogan: 'Together, We Will Make America Strong Again. We Will Make America Wealthy Again. We Will Make America Proud Again. We Will Make America Safe Again. And, Yes, Together, We Will Make America Great Again.'"

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Gold last traded at $1,201 an ounce. Silver at $17.00 an ounce

NEWS SUMMARY: Precious metal prices eased back on Thursday after Fed head Janet Yellen jawbones coming interest rate hikes. U.S. stocks traded lower as real estate prices fell and the Trump inauguration looms large.

Washington D.C. Turned Into "Virtual Fortress" As 250,000 Protesters Descend Upon The City -Zero Hedge
"Over the past couple of days, we've highlighted a couple of the mass protests that are being planned by disaffected Hillary supporters in an effort to disrupt the various Trump inaugural events that get kicked off tomorrow evening. Perhaps the most aggressive 'disruptions' have been planned by groups called 'DisruptJ20' and the 'DC Anti-Fascist Coalition' and include plans to 'paralyze the city' with ....'blockades' of bridges and tunnels, 'stink bombs' in ventilation systems and chaining metro trains to station platforms to shut down rail traffic. Unfortunately for them, all of their plans were caught on tape by Project Veritas (see 'New Video Exposes Anti-Trump Groups Plotting Criminal Acts To Disrupt Inauguration') so we suspect police will be well prepared. As Reuters points out this morning, efforts to disrupt the inaugural process will have to evade a massive force of 28,000 security personnel and miles of fencing and roadblocks fortified by sand-laden dump trucks and other heavy equipment."

Does Market Rigging in the Metals Signal a Buying Opportunity? Miller On The Money
"The need to protect your retirement nest egg from inflation is growing by the day. If the best inflation protection on the planet, precious metals, is being artificially held down in price what should an investor do? I contacted Ed Steer. I asked his opinion on the smoking gun and the implication for those who need to protect their life savings from inflation. DENNIS: ....As a member of the GATA committee, I know you are on top of the situation. The smoking gun appeared. Will this change the 'big boys' continual market manipulation? ED: Hi Dennis...The largest 8 traders, mostly U.S. banks and brokerage houses, are still mega-short the precious metals...The 'smoking gun' you refer to with the Deutsche Bank revelations has confirmed that the silver market is rigged – as is the gold market....DENNIS: ....What would you tell readers who are concerned about funding their retirement and making sure they have ample funds to pay their bills for the rest of their life? ED: Inflation is coming whether we want it or not – and it’s not going to be just a little bit of inflation. Central banks will move heaven and earth to ensure that it happens. The first place it will show up will be in precious metal prices, along with their associated equities. A portion of your retirement savings in them, whatever portion you feel comfortable with, will go a long way to not only preserving your wealth, but also your future purchasing power."

Weiss Research reports, "GATA says 'The objective of this manipulation is to conceal the mismanagement of the U.S. dollar so that it might retain its function as the world’s reserve currency.' Craig R. Smith, founder of Swiss America Trading Corp says he accepts the GATA arguments because 'there has to be a force greater than normal market conditions that has repressed the price of gold.'"

The “war on cash” has nothing to do with fighting crime -Saville/The Speculative Investor
"Don’t be hoodwinked by the relentless propaganda into believing that the efforts being made to eliminate physical cash are motivated by a desire to reduce crime and corruption. Fighting crime/corruption is just a pretext. The logic behind the propaganda goes like this: Criminals often use physical cash in their dealings, therefore cash should be eliminated. This makes as much sense as saying: Criminals often use cars, therefore cars should be banned....The reasons being put forward for the elimination of cash are therefore bogus. What, then, are the real reasons? The main real reason is to maximize tax revenue. If all transactions are carried out electronically via the banking system then every transaction can be monitored, making it more difficult to avoid tax. In other words, the main reason that governments are very keen to eliminate physical cash is that by doing so they increase the amount of money flowing into government coffers....So, any economist or financial journalist who advocates the elimination of physical cash is clueless at best and a government/banking-system stooge at worst."

Yellen speech bolsters dollar after Trump's mixed messages -Reuters
"The dollar climbed on Thursday as solid U.S. data reinforced a theme of robust U.S. economic growth, while the euro fell after European Central Bank chief Mario Draghi alluded to sagging inflation and the need for further monetary policy assistance....The ECB announced it would maintain its negative interest rate policy and maintain a record pace of asset purchases to stimulate tepid growth. Draghi described the current euro zone recovery as 'dampened by the sluggish pace of structural reform' and said a 'very substantial degree' of monetary policy stimulus was still needed."

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Gold last traded at $1,204 an ounce. Silver at $17.09 an ounce

NEWS SUMMARY: Precious metal prices steadied near 8-week highs Wednesday on a slight dollar rebound. U.S. stocks traded mixed ahead of Fedspeak amid growing political uncertainty

Should We Trash Cash? -New York Times
"I wonder, though, about the wisdom of the anti-cash crusade. The problem with the argument is that it concedes too much power to the modern triple-headed monster of the economy - the state, the central bank and the banking system. If there is no cash, there is nowhere for the private citizen to hide any assets at all, not just for criminal reasons but simply for financial security. The year 2008 was a reminder of how fragile our banking system is and how all-encompassing financial crisis can be....Cash is one of the few ways in which ordinary citizens can enjoy a tiny taste of the freedom, privacy and security that the rich take as their due. That, for me, is what’s missing in the critique of cash. If there were to be a big, convincing, system wide drive to tax the hidden assets of the rich, to drag them inside the same norms that constrain the rest of us, to make it clear that we are all playing by the same rules - well, then maybe we can start to talk about abolishing cash. Until then, we would do well to bear in mind a favorite line of the pro-cash lobby, Dostoyevsky’s observation from a czarist prison: ‘Money,’ he wrote, ‘is coined liberty.’"

Trump Will Make Volatility and Uncertainty Great Again -Real Clear Markets
"It remains my view that volatility and risk are materially underpriced in today's markets. While animal spirits have taken over the markets, abetted by machines and algorithms that often create an artificial market setting by exaggerating market moves, I will remind all that there is a reason why they are called animal spirits and not human spirits....Is it Reagan's 'Morning in America?' -- a metaphor for renewal. We all hope so, but I doubt if this will be the case this time....I am doubtful and I continue to believe that Donald Trump will make volatility and uncertainty great again....I would fade the 'animal spirits'... as I am fearful of elevated stock prices in a post-fact investment world. I would overweight gold and underweight stocks."

As we cover in our 2017 Gold Report - Early Edition ... "The discord surrounding the 2016 US election is clear evidence that political volatility in America is here to stay. US voters passed up ‘certainty’ for the ‘unknown.’ We are sitting on a powder keg of unpredictability. As a result, there is perhaps no better moment in time to diversify with the enduring value of the world’s oldest money than now."

Trump vs. the Dollar: Why Investors Are Right to Be Nervous -The Fiscal Times
"The dollar's rise was one of the lynchpins of the post-election rise, fueling the weakness in emerging market stocks and currencies (on trade war and border tax fears) and building intense demand for U.S. equities. The dollar’s rise helped crush safe haven assets like gold and Treasury bonds. Over the last few weeks, trend reversals have been seen in precious metals and bonds. Gold has climbed for three consecutive weeks to top the $1,200-an-ounce level for the first time since November....Suddenly, there is an interest in safety again. Now, it's the dollar's turn: On Friday, the greenback closed below its 50-day moving average for the first time since September. That drop continued on Tuesday after Trump told The Wall Street Journal that the dollar is 'too strong.'....History suggests that when the dollar weakens after a sustained uptrend, the losses tend to continue..."

Liberal Preppers Stock Up On Guns, Food As Trumpocalypse Looms -Vocativ
"With Trump on the horizon, the survivalist movement - long a pastime of the right - is picking up progressive converts fast....Long a calling among conservatives spooked by big government boogymen and calamitous natural disasters, the so-called prepper movement is gaining a decisively liberal following. 'We’re tired of being perceived as wusses...' said Stacy, a Texas Democrat who recently caught the prepper bug. She spoke with Vocativ on the condition we not publish her last name. 'I, for one, don’t like to be thought of as some precious snowflake.'....'It’s the nature of the political beast,' said Kevin O’Brien, a conservative prepper and realtor who specializes in off-the-grid properties in eastern Tennessee. 'Obama had many on the right really wound up. Now it’s the left’s turn.'"

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Gold last traded at $1,212 an ounce. Silver at $17.14 an ounce

NEWS SUMMARY: Precious metal prices were boosted by safe-haven buying Tuesday after President-elect Trump called for a weaker U.S. dollar. U.S. stock prices fell amid growing Trump policy worries.

Gold jumps to 8-week high on nervousness over Brexit, Trump -Marketwatch
"Gold prices jumped to their highest levels since mid-November on Tuesday as nervousness surrounding Britain’s push to exit from the European Union’s single market and U.S. President-elect Donald Trump’s inauguration this week fed haven demand for the precious metal. Gold for February delivery rose $17.20, or 1.4%, to $1,213.40 an ounce after trading as high as $1,218.90. A settlement around these levels would be the highest since mid-November, according to FactSet data. 'Uncertainty on the Trump transition continues to unsettle markets,' said Peter Hug, global trading director at Kitco Metals. 'President-elect Trump has over the past two days angered China on his Taiwan comments, disparaged NATO and insulted Germany’s Angela Merkel.'"

Physical gold is the world's safest haven and best form of 'wealth insurance.' Swiss America's 2017 Gold Report - Early Edition is an in-depth assessment of the dramatic political and economic events that will impact our financial security in the New Year.

Davos 2017: Aristocrats Face the Pitchforks -Wall Street Journal
"The disconnect between the Davos community - among the principal beneficiaries of globalization - and the rest of the world is striking. If the highly integrated, early 21st-century global economy had an aristocracy, it would be roughly the group of people who gather this week in the Swiss mountain resort of Davos....The tide of populist anger that swept the major economies in 2016 - highlighted by the British vote to leave the European Union and the election of Donald Trump in the U.S., marked also by rising support for nationalist parties and anti-establishment causes elsewhere in the developed world, is lapping at the elegantly appointed front door of Davos Man....The disconnect between this fraternity and the rest of the world is striking....The question for the Davos leadership this year is twofold: Will they continue to dismiss and deride voters who want to maintain or restore those borders as racist, xenophobic or even neo-fascist?... And second, what, if anything, do they intend to do about it?"

Craig Smith comment: The Davos panel all agree that uncertainty and lack of trust are rampant throughout the financial world. An over-extended period of artificially low interest rates have distorted price discovery to the point that no one can determine real value of underlying assets supporting all the bonds purchased by central banks. The titans of world finance are nervous, uncertain and believe that until interest rates normalize (which will be around 5-6%) we are in for a rough period. Liquidation of dead assets are necessary to clear the balance sheets of the central banks before we see transparent paper asset pricing. Gold ownership must not be dismissed in this environment.

Dollar retreats on Trump’s concern over strength -Financial Times
"The dollar retreated from the high it struck at the start of the year after Donald Trump signaled his preference for a weaker currency by warning that the greenback was 'too strong' for US companies to compete with their Chinese counterparts....Economists and currency analysts have speculated about the risks a robust US currency, which is trading at a 14-year high against a basket of its peers, poses to the president-elect’s growth strategy, and predicted that the incoming administration in Washington would soon start talking down the dollar. The first inklings of that tactic emerged in an interview Mr Trump gave to the Wall Street Journal late on Monday in which he said: 'Our companies can’t compete with them [Chinese companies] now because our currency is too strong. And it’s killing us.'....The dollar index has fallen 3 per cent since its January 3 high."

Cash Ban Gives India Gold Lovers No Way to Buy Wedding Rings -Bloomberg
"A self-imposed cash shortage in India is creating chaos for jewelry retailers in one of the world’s biggest gold-buying countries. Sales are plunging....In November, the government banned what amounts to half the circulated cash, part of a plan to curb corruption and tax evasion....'All our plans went for a toss after the demonetization,' said Ferreira, 28, a marketing consultant. 'Cash is just not an option now. We can’t get married without rings.'....Rural residents were hurt the most because they use cash almost exclusively, from buying clothes or food to paying for weddings."

A hot, new video by AMTV explains the many economic risks facing the new Trump administration and why the growing "War on Cash" is going on worldwide.

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Gold last traded at $1,196 an ounce. Silver at $16.76 an ounce.

NEWS SUMMARY: Precious metal prices steadied near 7-week highs Friday on bullish sentiment and on a flat dollar. U.S. stocks rose on upbeat bank earnings, NASDAQ tech index hits record high.

Central-Bank Bashing Has Gold Only Asset Safe From Meddling -Bloomberg
"Baring Asset Management’s Christopher Mahon has one major conviction about 2017: it will be the year in which central-bank bashing by politicians becomes the new normal, so he’s seeking shelter in gold. 'This year is the turning point,' Mahon said in an interview on Monday. 'For seven years or so, central banks have largely escaped critique even though one could argue that their policies have been pretty inadequate in many senses. It’s very plausible now that politicians stand up and throw stones at central bankers.'....Mahon is betting that gold will rise if political intervention causes central banks to miss inflation and growth targets....Gold used to be the center of the global financial system, for that reason it has a reputation as a currency -- but as a currency that’s not issued by governments and not controlled by governments.”

The gold market in 2017 -World Gold Council
"In 2016, investors around the world returned in large numbers to the gold market, as a combination of macroeconomic drivers and pent up demand kept interest in gold high. As we start the new year, there are some concerns that US dollar strength may limit gold’s appeal....Using the economic perspective from our guest economists as a backdrop, we believe that there are six major trends in the global economy that will support gold demand and influence its performance this year: 1. Heightened political and geopolitical risks. 2. Currency depreciation. 3. Rising inflation expectations. 4. Inflated stock market valuations. 5. Long-term Asian growth. 6. Opening of new markets. World Gold Council's 2017 Outlook

For the First Time, Lady Liberty Depicted as a Woman of Color on U.S. Currency -NBC News
"For the first time in American history, Lady Liberty will be portrayed as a woman of color on United States currency. In celebration of the U.S. Mint and Treasury's 225th anniversary, the new $100 coin was unveiled on Thursday featuring Lady Liberty as a black woman. Since the passage of the Coinage Act in 1792, all coins are required to feature an 'impression emblematic of liberty,' in either words or images. The new 24-karat gold coin, which is set to be released in April and is meant primarily for collectors, is one of a series of new, diverse commemorative coins the Mint will unveil in the coming years."

Beleaguered Small Businesses Set For Big Rebound Under Trump -Investors
"Small businesses and entrepreneurs have had a rough time of it for these past eight years. New startups and entrepreneurial activity have pretty much been stagnant, weighed down by heavy regulation, high taxes and an economy that's just been stumbling along. But in recent weeks, there are signs of renewal that could mark a turnaround in the fortunes of small business. Most impressively, the National Federation of Independent Business' small-business optimism index surged in December by the most since 1980, a year when another maverick conservative-leaning candidate surprised everyone and won the presidency. His name was Reagan.... Since 2009, small businesses have accounted for over 60% of all new jobs....In short, when small business booms, the economy booms."

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Gold last traded at $1,199 an ounce. Silver at $16.82 an ounce

NEWS SUMMARY: Precious metal prices rose again Thursday on momentum buying and a sharply weaker dollar. U.S. stocks erased all 2017 gains following Trump statements focused on protectionism rather than tax cuts and stimulus.

Gold Surges Above $1,200 as Details-Shy Trump Weighing on Dollar -Bloomberg
"Gold futures rallied to a seven-week high as investors flooded back into funds backed by the metal and the dollar declined in the aftermath of Donald Trump’s press conference that provided little detail on his economic stimulus plans. The metal on Thursday rose above $1,200 an ounce for the first time since late November as exchange-traded holdings jumped by the most since the day after the election. The U.S. currency fell against all of its major peers, dropping 1 percent against the Japanese yen. Gold has risen more than 4 percent this year, bolstered by a weaker greenback that’s spurring demand for the metal as an alternative asset."

Top-Down Frustration in a Bottom-Up World -American Conservative
"Wall Street and the Fed have stacked the deck against Main Street - and the nation’s long-term prosperity is at risk....The world has become a collection of winners and losers, and the winners - usually large established institutions - are manipulating the system at the expense of the entrepreneurial newcomers....Tech investor Peter Thiel, who co-founded PayPal, argues that these firms are engaged in 'the opposite of innovation; they are monopolies.' Main Street Capitalism, the Great Equalizer, the kind of capitalism that demands a level playing field, is under massive assault in this new zero-sum economic environ­ment where the 'big' almost always carry the day....True economic success emerges largely as a result of behavioral changes from the bottom up - not the top down. In his book The Evolu­tion of Everything, Matt Ridley points out the fascination by elites with top-down design rather than bottom-up 'evolution' when it comes to major achievements in science, economics, and social change."

Amazon to create more than 100,000 full-time jobs in the next 18 months -Marketwatch
"Amazon.com Inc. said Thursday that it will create more than 100,000 full-time, full-benefit jobs across the U.S. over the next 18 months. The new additions will take the U.S. full-time workforce from 180,000 in 2016 to more than 280,000 by mid-2018. The new jobs will be nationwide and cut across functions from software developers and engineers to entry-level positions, the company said. Most will be in fulfillment centers currently under construction in states including Texas, California and New Jersey. Amazon says it has created more than 150,000 jobs in the U.S. over the past five years."

The Looming Assault on the Federal Reserve -Barrons
"The new regime hates the Fed: Donald Trump’s supporters are remarkably unified on the Federal Reserve: It monetizes the debt, it creates asset bubbles, it is utterly nontransparent, it’s controlled by Keynesians, its regulations hurt the economy, its bloated balance sheet will be impossible to wind down in an orderly manner, etc. But most importantly, the new regime thinks the Fed has too much power....Sen.Rand Paul, an increasingly important player, has re-introduced his ‘Federal Reserve Transparency Act,’ which has a good chance of passing in the Senate as well...If it passes, Trump would sign it....Trump might eventually appreciate a dove like Yellen, but he and his supporters have a bigger issue than Yellen - their beef is with the Fed as an institution....Trump gets two nominees this year and two more in 2018; the key may not be whether these nominees are monetary hawks or doves - it’s whether they want to curb the Fed’s power, reduce its balance sheet and accept more transparency."

'Fake news' has not spared the financial markets -Business Insider
"As much as we may not want to hear it, there is nothing new about the phenomenon known as fake news. Combatting it has proven to be a viable business for Snopes.com, which has been exposing fake news items, from fabricated messages to factual distortions since the mid-1990s. That being said, the occurrence of fake news spiked in 2016 running the gamut from political to financial so much so that the German government is considering fines of up to $522,000 for each day Facebook 'leaves a 'fake news' story up without deleting it.'....Politics and celebrities aren’t the only arenas for fake news. Financial markets have also seen their fair share of rumor and fake news as well. In early 2014, Adam Feuerstein at The Street identified that, 'a single individual used three different pseudonyms to push articles on Seeking Alpha. After looking into the matter, the Website discovered that a single individual wrote five articles.' ....Without question, investors need to do their homework before committing capital to either a long or short position."

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Gold last traded at $1,189 an ounce. Silver at $16.82 an ounce.

NEWS SUMMARY: Precious metal prices rally, ending at seven-week highs on Wednesday. U.S. stocks traded mixed following President-elect Donald Trump's first news conference of the year.

Gold looks very undervalued: Frank Holmes -CNBC Video
"Frank Holmes at U.S. Global Investors says that growth in China will lead to strong physical demand for the precious metal....According to Holmes, "I've always recommended a 10% weighting in gold and rebalancing each year...I think we are going to see a stronger year this year...I call it the 'love trade' - which has to do with gift-giving - which accounts for about 50% of the gold buying. It follows what's going on in China, in India...in addition to the 'fear trade' which is based on negative interest rates."

As we discuss in our 2017 Gold Report - Early Edition, 2017 may prove to be another history making year. The world has a crammed election calendar with a host of vulnerable incumbents, deep political divides, and an escalating clash between elitism and populism. Add all the carry-over threats from last year - Russia, Iran, the refugee crisis, terrorism, North Korea - and we are sitting on a powder keg of unpredictability. In such a highly charged climate a single vote, election outcome, or referendum could very well send currencies plunging, global stocks tumbling and investors retreating to the safety of gold.

Killer Cash! -Daily Reckoning
"The global elites’ latest volley in the 'war on cash' is a weird one. They’re telling us cash is - drumroll, please - a public health issue. If you’ve been reading us for any amount of time, you’re familiar with the war on cash — the increasing push to get us all to perform our transactions electronically, the better to be tracked and taxed. Former Treasury Secretary Larry Summers figures the least that could be done is abolish the $100 bill; Harvard economist Ken Rogoff would just as soon do away with cash altogether, making his case in a book called The Curse of Cash. As you might already know, most of the arguments against cash are a variant on the following proposition: If we don’t do away with cash, then the money launderers and drug runners and terrorists win. Which is what makes the health gambit, if nothing else, novel…'Studies have piled up in recent years describing exactly how filthy - specifically how bacteria-laden - our dollars and cents can be,' says an article in Scientific American."

Cash is under attack from multiple entities - government, banks, technology and now scientists. As we explained in our 2014 book, Don't Bank On It! the use of cash today could get you branded as a criminal. Capital controls are already being put in place to prevent bank runs. Get the full story in our 12-page White Paper: The Secret War on Cash .

World Economic Forum says capitalism needs urgent change -Associated Press
"Reforming the very nature of capitalism will be needed to combat the growing appeal of populist political movements around the world, the World Economic Forum said Wednesday....In a wide-ranging report from the organizer of the annual gathering of political and business leaders in the Swiss resort of Davos, the WEF identified 'rising income and wealth disparity' as potentially the biggest driver in global affairs over the next ten years....'This points to the need for reviving economic growth, but the growing mood of anti-establishment populism suggests we may have passed the stage where this alone would remedy fractures in society: reforming market capitalism must also be added to the agenda,' it said in its latest Global Risks Report. 'The combination of economic inequality and political polarization threatens to amplify global risks, fraying the social solidarity on which the legitimacy of our economic and political systems rests,' it added."

German fury grows over inflation 'Horror-Kurve' as fears of destructive boom-bust cycle mount -Evans-Pritchard/Telegraph
"Inflation rage is coming to the boil in Germany. Leaders of the country's prestigious institutes warn that the economy is hitting capacity constraints and risks spiraling into a destructive boom-bust cycle. In a series of interviews with The Telegraph they said that the ultra-loose monetary policy of the European Central Bank is now badly out of alignment with German needs. It has begun to threaten lasting damage, and is fast undermining political consent for monetary union. 'The ECB wants to inflate away the debt of the southern European countries. This is a clear conflict of interest with net creditors like Germany,' said Clemens Fuest, president of the IFO Institute in Munich."

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Gold last traded at $1,186 an ounce. Silver at $16.84 an ounce.

NEWS SUMMARY:
Precious metal prices rose near 6-week highs Tuesday on increasing demand, despite a firmer dollar. U.S. stocks rose modestly, lead by financials and technology.

Gold prices climb to highest levels in 6 weeks -Marketwatch
"Gold futures edged higher Tuesday, with a weaker U.S. dollar and uncertainty in the markets a day ahead of President-elect Donald Trump’s press conference lifting the precious metal to its highest level in six weeks. The markets look forward to details Wednesday on spending plans from the incoming Trump administration. Wednesday will mark Trump’s first official news conference since July, an appearance that has injected added volatility into dollar and metals trading and left stocks trading only modestly higher....'The weakness in the dollar is the major factor here, as traders are wary' ahead of Trump’s media briefing, said Naeem Aslam, chief market analyst at ThinkMarkets."

The Rise of the Cashless City: 'There Is This Real Danger of Exclusion' -Forrest/Guardian
"Cities from Sweden to India are pushing for a totally cash-free society. But as more shops and transport networks insist on electronic payments, where does this leave the smallest traders and poorest inhabitants?....As more shops and transport networks adapt to contactless card and touch-and-go mobile technology, many major cities around the world are in the process of relegating cash to second-class status. Some London shops and cafes are now, like the capital’s buses, simply refusing to handle notes or coins. Could we see a whole city go cash-free? From Seoul to Bergamo, cities big and small are at the forefront of a global drive to go digital....'The beauty of cash is that it’s a direct and simple transaction between all kinds of different people, no matter how rich or poor,' explains financial writer Dominic Frisby. 'If you begin to insist on cashlessness, it does put pressure on you to be banked and signed up to financial system, and many of the poorest are likely to remain outside of that system. So there is this real danger of exclusion.'....According to a recent report by Fung Global Retail & Technology, nine of the top 15 'most digital-ready' countries are in Europe. It predicts Sweden could become the world’s first completely cashless society."

U.S. Small-Business Optimism Index Surges by Most Since 1980 -Bloomberg
"Optimism among America’s small businesses soared in December by the most since 1980 as expectations about the economy’s prospects improved dramatically in the aftermath of the presidential election....The share of business owners who say now is a good time to expand is three times the average of the current expansion, according to the NFIB’s data. More companies also said they plan to increase investment and keep hiring, which reflects optimism surrounding President-elect Donald Trump’s plans of spurring the economy through deregulation, tax reform and infrastructure spending. 'Rising confidence adds to the economy’s upward momentum,' Jim O’Sullivan, chief U.S. economist at High Frequency Economics in Valhalla, New York, said in a note....'We haven’t seen numbers like this in a long time,' Juanita Duggan, president and chief executive of the NFIB, said in a statement. 'Small business is ready for a breakout, and that can only mean very good things for the U.S. economy. Business owners are feeling better about taking risks and making investments.'"

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Gold last traded at $1,184 an ounce. Silver at $16.68 an ounce.

NEWS SUMMARY: Precious metal prices rose sharply on Monday amid a weaker dollar and demand upswing. U.S. stocks traded mixed on weaker oil prices ahead of the start of corporate earnings season.

Gold Is Cheap Insurance No Matter What The Fed Will Do -Forbes
"Many investors wonder if gold has entered a lasting bear market. Or if this is the time to buy while prices are low. The world is focused on the prospect of rising interest rates. Yet, the market is pricing-in modest rate increases....Years of loose monetary policy - coupled with Trump’s infrastructure, de-regulation, and fiscal plans - could unleash a time of economic expansion which would likely include inflation. Based on the Fed’s past behavior, we expect them to be slow to hike rates and catch up. Real rates may turn negative. It would be very favorable for gold prices....The US economy is in the headwinds of a strong dollar and over-indebtedness. Lower taxes and increased spending could tip the scale and cause a recession....Add to this a very volatile geopolitical environment, fragile economies worldwide, and excessive levels of debt across the globe: the case for gold as insurance and also as a solid long-term investment is as strong as ever."

Yes, physical gold is the world's best 'wealth insurance.' Swiss America's 2017 Gold Report - Early Edition is an in-depth assessment of the dramatic political and economic events that will impact our financial security in the New Year.

Is Trump Making America Great Again? -Craig Smith/Fox Business
Swiss America chairman Craig R. Smith was a guest on Fox News 'Your World With Neil Cavuto' today to discuss the positive economic trends leading into the Trump presidency. For example, today Jack Ma, the founder and chairman of Alibaba Group, met with President-elect Donald Trump to discuss plans to create one million US manufacturing jobs and allowing small businesses to sell to China through the company's platforms. According to Mr. Smith, "Mr. Trump has laid out a pro-growth, pro-business, low tax, low regulation agenda - where he can show corporations around the world that we have the best work force, the best capital markets and the best technology. And that if you decide to do business here in America; we're going to make sure you don't have to give all of your money back to the government, you're going to have steady electricity, steady water and a steady work force. I think he's making America great again, but he's also making America very attractive for business again, Neil."

Is India’s Cash Ban A Test Case For The West? -Zero Hedge
"The decision to abolish the high denomination bank notes shouldn’t be taken lightly, as they represent almost 90% (!) of all bank notes in circulation and on top of that, India is predominantly a cash-nation. Most businesses and consumers prefer to seal their transactions with cash rather than plastic and digital money, and now hundreds of millions of Indians were forced to line up at the banks to try to convert their cash in new and approved notes....Within HOURS. That’s how fast 86% of a country’s cash stash was deemed to be ‘illegal’ and completely worthless. And this might very well happen in western countries as well."

Would a cashless world change your life for the good or bad? Find out for yourself by reading our two special reports on the subject: TEN CONSEQUENCES OF A CASHLESS WORLD & THE SECRET WAR ON CASH.

There Is No Limit On Holding Gold -Somasundaram/Outlook India
"Somasundaram PR, Managing Director, India, World Gold Council, talks to Pragya Singh about the gold market and demonetization - and why it’s tough to regulate gold with strictures. What would be the effect of the government’s recently proposed limits on gold holdings? First of all there is no limit at all. You can hold any amount of gold. The government has only said that if it finds one ton of gold with you, it will ask you how you got it. Up to 500 grams you can keep, no questions asked....Why do Indians value gold more than other assets? That is because there’s a lot more uncertainty in India....gold makes more people credit-worthy. It drives economic activity beyond what we see....Gold is confidential, unlike land....You’re very bullish post-demonetization? Yes, you see, it is difficult to take gold away by regulating it. If you say everybody has to come and deposit their gold—hypothetically—then people will just hold it in locker."

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Gold last traded at $1,173 an ounce. Silver at $16.51 an ounce.

NEWS SUMMARY: Precious metal prices took a breather Friday after rising every day in 2017 on short-term profit taking. U.S. stocks rose, led by technology sector, despite disappointing job growth data.

Grab some gold because the Fed can’t figure out Trump, a growing chorus says -MarketWatch
"If you’re trying to make sense of the new world order or of the latest Fed minutes, here’s some good news: A few gold watchers have it all sorted out. The precious metal is jumping to a four-week high today because yesterday’s minutes are beating up the almighty dollar, says Naeem Aslam at Think Markets. Janet Yellen and her sidekicks are feeling really uncertain about the 'timing, size, and composition' of any infrastructure spending or other U.S. fiscal stimulus, the account of the Fed’s December meeting revealed. 'The Fed is surely betting that Donald Trump will be able to deliver when it comes to fiscal spending and tax reforms. But the reality may be far off what the market is positioned for,' Aslam writes.... 'As such — and despite the considerable retracement declines in precious metals in the back half of last year — we continue to like their long-term prospects in what we believe will be a lower real yield market environment."

I'm Really Into the Gold. Here Are the Reasons Why -Kass/Real Clear Markets
"While the animal spirits may have taken over the equity markets and have ignored the gold market, we should recall that there is a reason why Keynes called them animal and not human spirits. That's because animals are a lot dumber than humans! As excited as investors are about stocks, they are now uninterested in gold. I remain a minority and outside of consensus regarding gold. However, given the developing and concerning conditions -- and lack of credible policy responses -- that I now see falling into place, the uncertainty premium should be rising and gold may be a beneficiary this year....I believe the odds that gold will shine brightly this year are growing, and that the commodity may go from goat in 2016 to hero in 2017. I have moved to a large holding in gold."

Smart advice from Doug Kass, a respectable mainstream financial journalist. Although gold has lost some it's luster to short-term speculators, it remains a smart buy for the long-term investor for many common sense reasons as explained in our brand new 2017 Real Money Perspectives newsletter, Volatility's Last Stand , available free in print or online HERE

Where The December Jobs Were: Nurses, Waiters, And Waste Cleaners -Zero Hedge
"Something remains very broken with the US labor market: while the unemployment rate remains just shy of the lowest print since August 2007, rising fractionally to 4.7%, wage growth for most workers, as reported earlier, rose just 2.5%, far below the 4.0% it was when the unemployment rate last hit 4.7%.... Still, according to the BLS at least, some 155,000 seasonally adjusted jobs were added in December, arbitrarily goalseeked as they may have been. Where were they? Here is the answer: The most actively hiring sector was health care, which saw a whopping 70,000 increase in December jobs, nearly half of total....Professional and Business Services rose by a total of 30,500, the second highest gaining category....Another minimum wage job category that added jobs in December was Leisure and Hospitality, which added a grand total of 24,000 jobs. Here, the biggest contributor was an old favorite: employment in food services and drinking places, which continued to trend up in December (+30,000)."

Why Hong Kong going cashless is no small change -South China Morning Post
"Hong Kong prides itself on being up to date with the latest technology, and the government likes to call it a 'smart city', but to really embrace that concept, many believe Hongkongers must abandon the idea that cash is king and join the global trend towards electronic payments. Take Larry Salibra, a tech-savvy shopper, for example. He is frustrated that he is forced to carry cash whenever he is commuting around Hong Kong, even though at least a dozen e-payment options are available....‘I tend to go to restaurants that accept cashless payment. I don’t want to have to deal with cash,’ Salibra said. ‘I don’t want to deal with the responsibility of carrying it around and losing it.’ Hong Kong was one of the first places in the world with a cashless payment system when it introduced the Octopus card in 1997, but since then e-payment options have mushroomed globally....A deep-rooted cash culture, an older population reluctant to adopt new technologies, and the fear of ‘Big Brother’ snooping on transactions are some of the obstacles stopping Hong Kong from becoming truly cashless."

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Gold last traded at $1,181 an ounce. Silver at $16.63 an ounce.

NEWS SUMMARY: Precious metal prices shot up over 1% Thursday on bargain hunting and a sharply weaker dollar. U.S. stocks fell amid growing uncertainty about President-elect Trump's economic and trade policy changes.

Gold ETF Mechanics: An Infographic -Zero Hedge
"Gold-backed Exchange Traded Funds (ETFs) have grown strongly in scale and popularity over the last decade and their combined gold holdings now surpass all but the largest central bank gold reserve holdings. However, its important to understand the mechanics of these gold-backed ETF investment vehicles and to appreciate what they can and can't provide to gold investors. This infographic takes you on a tour of gold-backed ETFs and illustrates insights into how these products really work, including the following: The contemporary gold holdings of the world's largest gold-backed ETF platforms, Why holders of gold ETFs are holders of units / shares, not gold holders, The characteristics and common objectives of gold-backed ETFs, How the world's largest gold ETFs support and perpetuate the opaque practices of the London Gold Market."

Gold Traders Most Bullish Since 2015 on New Year Concerns -Bloomberg
"There’s one thing almost all gold traders and analysts agree on, now is a great time to own bullion. Those surveyed by Bloomberg were the most positive they’ve been on the metal’s price outlook since the end of 2015, with 14 saying they’re bullish on the metal, two bearish, and one neutral....'The euro zone has plenty of crisis triggers over coming months; Indian and Chinese buying remain strong and Trump’s policy threatens inflation,' said Adrian Day, president of Adrian Day Asset Management in Annapolis, Maryland, which oversees $190 million. 'All this is positive for gold.' The metal for immediate delivery has risen every day this year, and was up 1 percent at $1,175.38 an ounce as of 1:56 p.m. in London, according to Bloomberg generic pricing."

'Audit the Fed' bill gets new push under Trump -The Hill
"Rep. Thomas Massie (R-Ky.) and Sen. Rand Paul (R-Ky.) have re-introduced legislation to 'Audit the Fed,' after a similar effort stalled in the last Congress....Both chambers are controlled by Republicans long critical of the Fed’s policies, and President-elect Donald Trump has heaped scorn on the central bank since the beginning of his presidential campaign....'The U.S. House has responded to the American people by passing Audit the Fed multiple times, and President-elect Trump has stated his support for an audit. Let’s send him the bill this Congress,' said Paul. Under the bill, the Fed’s monetary policy deliberations could be subject to outside review by the Government Accountability Office....'It is time to force the Federal Reserve to operate by the same standards of transparency and accountability to the taxpayers that we should demand of all government agencies.'"

Here’s Why the Federal Reserve Is Worried About Donald Trump -Fortune
"At their December meeting, Trump's presidential win led members of the Fed to predict that interest rates would rise higher and more quickly than expected, in 2017 and beyond. That prediction cooled the stock market and put the brakes on the 'Trump Bump,' the rise in the stock market since the election, which has essentially stalled since mid-December. The Fed said in its minutes, which were released Wednesday, that its anticipated path of interest rates rose significantly following Trump's presidential win....If the Fed decides to raise interest rates faster than investors and business leaders currently expect, that could make Trump's proposed stimulus efforts less effective, because higher interest rates tend to slow the economy. While Trump has been critical of the Fed, he has said that he would prefer interest rates to stay low for the time being."

Donald Trump’s First 100 Days ... and Your Money! is a brand new Swiss America special report which outlines how the new Commander-in-Chief could impact world markets, the dollar, diplomatic relations and precious metals in the very early days of his presidency and beyond. The report also includes Trump's 26-point comprehensive "Contract With The American Voter".

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Gold last traded at $1,165 an ounce. Silver at $16.55 an ounce.

NEWS SUMMARY: Precious metal prices rose again on Wednesday on rising demand and a weaker dollar. U.S. stocks traded modestly higher on upbeat consumer spending and higher oil prices.

Elites Don’t Need to Ban Cash to Eliminate It -Daily Reckoning
"It’s a new year. And the war on cash opens on a new front…India launched a major offensive in November when it banned the most widely used bank notes. Chaos was the result. And now… Greece is launching its latest offensive against cash…This offensive amounts to a 'soft' ban on cash. Greece may not seem important. But beware… this 'soft' cash ban could be a model for the advanced economies....Once the level of cash in society falls to a certain point, it’s only a small step before it vanishes entirely. And that’s how cash will die. They don’t have to ban it outright. It’ll just die of neglect. They just have to make it impractical to the point that no one accepts it anymore....Then comes the order: Lay down your cash and come out with your hands up. And off to the digital POW camp you go. Today, it’s Greece. It’ll be someone else tomorrow. And don’t be surprised one whit if it’s America next week or next month or next year."

Are You Prepared For Trumponomics? -Craig R. Smith/SATC
"I am thankful Mr. Trump will be our next president. He has a steady hand and realizes tough choices must be made, following 8-years of Obama political and economic abuse. But markets neither forgive debt nor mistakes. Markets ultimately correct, regardless of who's in the White House. Mr. Trump is not a miracle worker. While he may be a great leader capable of restoring hope, even before he takes office, he cannot make the debt bubble disappear, nor can he avoid its devastating effects. For example, just since the election of Trump, bonds have lost $2 trillion in value. Interest rates have risen and inflation fears have returned....U.S stocks now trade at 28-times earnings, averaged over a 10-year period or CAPE (cyclically adjusted price earnings). The long-term average is 17-times earnings....The U.S. dollar, while currently enjoying a 14-year high, will eventually resume it's long-term downward trend. President Richard Nixon assured that long-term trend when he closed the 'Gold Window' back in 1971." Full story...

How did gold and silver really do in 2016 and where are they headed this year? -SharpesPixley
"Domestic and foreign policy uncertainties may form the crux of a gold price resurrection in 2017. This may already have started in 2016, but big financial sector interventions from around mid-year succeeded in nipping that in the bud – even so gold was up around 8% over the year and silver an even higher 15%. This was after being up respectively around 25% and 45% immediately after the US independence Day holiday – a turnaround date which saw inflows into the world’s largest gold ETF switch to major outflows....If Trump’s supposedly business-friendly initiatives run into serious opposition in Congress then the dollar may well suffer. But, there’s little doubt that dollar strength will be important for the gold price and the prospects of a trade war with China and the unwinding of some other key trade agreements, which Trump appears to wish to implement, could be destabilising for the greenback."

As we enter 2017, the world is gripped by deep political divides, unsustainable debt, volatile markets, vulnerable currencies and a political power structure that has been turned completely upside down. Swiss America's 2017 Gold Report - Early Edition is an in-depth assessment of the dramatic political and economic events that will impact our financial security in the New Year.

Prosperity = Abundant Work + Low Cost Of Living -Charles Hugh-Smith/Zero Hedge
"If we look at eras of widespread prosperity, we find that work is abundant, private enterprises and trade are vibrant, the currency is stable, the cost of doing business is low, inflation and the cost of living are low, so even low-wage households can slowly improve their lot....We can do better, but only if we discern the systemic reasons why wages are stagnating, small business is in decline and the rich get richer while everyone else gets poorer. An economy that only serves the prosperity of the protected top 5% is an economy doomed to rising inequality, stagnation and widespread social discontent."

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Gold last traded at $1,162 an ounce. Silver at $16.40 an ounce.

NEWS SUMMARY: Precious metal prices launched higher Tuesday, building upon solid 2016 price gains. U.S. stocks opened higher, then moderated as oil prices retreated.

Trump, interest rates and Chinese panic: Why euphoria could turn to a credit crunch in 2017 -Evans-Pritchard/Telegraph
"Donald Trump's reflation rally will short-circuit. Rising borrowing costs will blow fuses across the world before fiscal stimulus arrives, if it in fact arrives. By the end of 2017 it will be clear that nothing has changed for the better. Powerful deflationary forces retain an invisible grip over the global economy. Bond yields will ratchet up further and then come clattering down again – ultimately driving 10-year US yields below zero before the decade is over. There are few ‘shovel ready’ projects for Trump’s infrastructure blitz. The headline figures are imaginary. His plan will be whittled down by Congress. The House will pass tax cuts for the rich but these are regressive, with a low fiscal multiplier."

Greece Unleashes 'Soft' Cash Ban -Zero Hedge
"The spread of global cash bans continues with Greece unveiling their so-called 'soft' approach by which taxpayers will only be granted tax-allowances or deductions when payments are made via credit or debit cards. As KeepTalkingGreeece reports, the new guidelines refer to employees, pensioners, farmers, and also the unemployed....Should a taxpayer not be able to spend the necessary percentage of the annual income according to the guidelines, the punishment will be a penalty of 22% imposed on the missing difference....In the bizarre Greek world we live in, households will be obliged to spend money even if they do not want to....The cap for cash transactions fell from 1,500 until 12.31.2016 down to 500 euro. In simple words: any purchase of good and service over 500 euro will need to be done via plastic money."

Investors brace for 2017 shocks after surprise 2016 run -Reuters
"Reflecting the renewed bullishness for equities, U.S.-based stock funds pulled in $11.8 billion in the week ended Dec. 28, data from Lipper showed on Thursday, marking a sharp reversal from most of the year. But investors see several warning signs for 2017, including stocks at traditionally expensive valuations; investors registering particularly bullish sentiment; and the Federal Reserve primed to raise interest rates several times this year....January has proven to be a difficult month for equities in recent years, with the S&P 500 falling at least 3 percent in each January of 2014, 2015 and 2016....'A lot of people have postponed selling gains this year, expecting that they are going to have lower tax brackets next year,' said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago."

Swiss banking secrecy nears end following new tax rules -CNBC
"Switzerland's reputation as a secretive tax haven looks set to end following the introduction of rules over sharing bank account data. The International Convention on the Automatic Exchange of Banking Information (AEOI) entered into force on January 1, pulling Switzerland in to line with international standards on taxation....In the past, Switzerland would only provide banking information if requested by a limited number of countries and even then, full co-operation was not guaranteed....According to the Swiss State Secretariat for International Financial Matters, Switzerland will now start collecting data on 1 January 2017 and exchange it for the first time in 2018.....'Aside from Switzerland, almost 100 states, including all major financial centers, have declared their intention to adopt the standard,' the Swiss secretariat said on its website."

The Answer To Our Economic Stagnation Is Hiding In Plain Sight -Tamny/Forbes
"Northwestern University economist Robert Gordon, former Economist magazine editor Marc Levinson, and the Wall Street Journal’s Greg Ip all accept the popular falsehood that the U.S. economy has essentially hit an insurmountable innovation wall. To Gordon the intangible wall is a function of past innovation that left today’s geniuses with little fruit to pick, Levinson strangely believes global competition has lightly suffocated modern American genius, while the reporter in Ip hits on a number of possible stagnation drivers. All miss the corpulent elephant sitting in what is a bare room....As Hazlitt put it long ago, it’s 'incredible' that even the 'ignorant' could believe we’ve somehow reached the boundaries of advancement. No, we never will. There will always be unmet human needs, suffering, and even better, there will always be ways to improve on what is already great....That it will remind us yet again that there will never be enough - or too much - capital simply because entrepreneurs will never succeed in solving all of our unmet needs, not to mention the ones we didn’t know we had."

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