Swiss America Blog Archive

11.22.24 - Gold Set for Biggest Weekly Jump in 13 Months

Gold last traded at $2,710 an ounce. Silver at $31.27 an ounce.

EDITOR'S NOTE: The markets seem to be favorably receiving the prospect of the Trump administration. Will his policy changes be enough to right the world's economic ship? Gold - which has already experienced record gains - is poised to see even greater demand, as the uncertainty that drove its initial run is still in place. Global unrest tends to make safe haven assets grow, no matter who is in the White House.

Gold Set for Biggest Weekly Jump in 13 Months on Haven Demand -Yahoo! Finance

by Sybilla Gross and Jack Ryan

(Bloomberg) -- Gold headed for the biggest weekly gain since March last year as an escalation in the Russia-Ukraine conflict boosted its haven appeal, with traders also assessing prospects for further easing by the Federal Reserve.

Bullion rose by as much as 1.5% to $2,710.16 an ounce after Ukraine said Russia launched a “new” kind of ballistic missile at the city of Dnipro in an alarming signal to Kyiv’s Western backers. Heightened geopolitical tensions tend to drive investors to safety assets, such as gold.

“The tit-for-tat escalation between Russia and Ukraine has lifted the geopolitical temperature to higher levels than those seen during the year-long war between Israel and Iran-backed militants, and markets have responded accordingly,” said Ole Hansen, head of commodities strategy at Saxo Bank.

The renewed haven demand “has injected fresh momentum back into the market following an early November correction,” Hansen added. READ MORE

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11.21.24 - Gold: Buy the Dips

Gold last traded at $2,669 an ounce. Silver at $30.80 an ounce.

EDITOR'S NOTE: With the Biden Administration recently giving Ukraine the green light to strike deep into Russian territory using American missiles, buying gold on the dips will likely prove to be very sage advice. Global instability has always caused the price of gold to rise, as investors and nations seek out safe havens. This latest move will likely escalate tensions even further, making way for another bull run for the yellow metal.

Buy gold after its pullbacks — because it may hit $3,000 in 2025

by Myra P. Saefong

Gold prices have been showing signs of life after a drop last week to their lowest level in two months, with worrisome headlines tied to the Russia-Ukraine war boosting the possibility of a rise to fresh record highs before the year is done.

However, one analyst said investors should avoid chasing big moves and take advantage of price pullbacks to buy the precious metal ahead of a potential climb toward $3,000 an ounce next year.

Donald Trump’s election victory led the war premium in gold prices to deflate for a time, but U.S. approval for Ukraine to use long-range missiles on Russia was viewed as a “serious escalation of events as Trump’s administration remains two months away from assuming power,” said Peter Spina, president and founder of gold news and information provider GoldSeek.com, in recent comments to MarketWatch. That’s helped to prop up prices for the precious metal once again.

“This is a very dangerous situation … and should support gold prices if the situation does not quickly de-escalate,” he said. Russian President Vladimir Putin could be open to talks on a cease-fire in Ukraine with Trump, according to a report from Reuters, which cited five sources with knowledge of the Kremlin’s thinking.

Still, gold prices settled higher for a third session in a row Wednesday.

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11.20.24 - UBS: gold’s rally isn’t over

Gold last traded at $2,649 an ounce. Silver at $30.85 an ounce.

Could S&P Crash More Than 40%? -Forbes

It will be interesting to see how President Elect Trump's moves in his first few months in office influence the markets. All we can do now is speculate; and prepare for all scenarios. Make sure your portfolio is soundly diversified as we head into 2025.

The Federal Reserve and Chair Jerome Powell all but finalized a decision last week - interest rates are unlikely to be cut in the Fed’s December meeting. Inflation risk isn’t gone yet.

Chair Powell’s Fed likely sees inflation as a real risk - no, a massive threat due to the possibility of persistent, sticky inflation - like the one that resulted in an almost 50% drop in S&P 500 from 1972 to 1974. Giants like Nvidia can drop even more.

How much would that hurt? Well, the combined market cap of S&P 500 constituents is roughly $45 trillion. So a 50% decline in the index would mean a loss of more than $20 trillion in value. And you thought the $2 trillion-plus wipeout the benchmark index witnessed in the first three days of August was bad.

To make matters worse, persistent inflation combined with high interest rates hurt smaller companies the most - magnifying the impact on the Russell 2000 small cap index. READ MORE

UBS joins Goldman in forecasting gold’s rally isn’t over -Yahoo! Finance

Another major financial firm is forecasting greater gains for gold in the coming months. Even though the US election is behind us, there is still an avalanche of uncertainty globally driving gold prices upward.

by Jake Lloyd-Smith

(Bloomberg) -- Gold will rally to $2,900 an ounce by the end of next year, according to UBS Group AG, echoing a call from Goldman Sachs Group Inc. for further gains as central banks expand their holdings.

There’s likely to be a period of consolidation due to the stronger dollar and concerns over the potential for more US fiscal stimulus to lead to higher rates before the precious metal starts climbing again, UBS analysts including Levi Spry and Lachlan Shaw said in a note. Bullion would rise a little further, to $2,950 an ounce, by the end of 2026, they said.

“The US Red Sweep, strong diversification buying interest and elevated global uncertainty to continue to support prices,” the analysts said. Gains “should be driven by continued strategic gold allocations and official-sector purchases in a backdrop of high macro volatility and persistent geopolitical risks,” they said.

Gold has been one of the strongest-performing commodities of 2024, setting successive records before a pullback following the US presidential election as the dollar spiked. The year-to-date advance has been supported by central-bank accumulation, the Federal Reserve’s pivot to monetary easing, and geopolitical tensions in Europe and the Middle East. READ MORE

BRICS Nation Officially the Fastest Growing Economy in the G20 -Watcher.Guru

This headline should be major news, the BRICS bloc is now its own robust economy. With tremendous financial growth comes tremendous financial influence. The dollar's position grows weaker by the day.

by Joshua Ramos

Amid what has been a tremendous year of growth for the BRICS bloc, one of its countries has officially become the fastest-growing economy in the G20 for 2024. The collective has sported some of the most promising economic situations on the globe. Yet, that is now starting to manifest in tangible growth that could be massive for the group.

The BRICS bloc has already surpassed the collective GDP of the entire G7 group, according to Russian President Vladimir Putin. Now, all eyes are on the economic group’s growth trajectory, and a plethora of nations are seeking membership in the coming year.

The last two years have been tremendously important for the BRICS bloc. As the West has imposed sanctions on Russia following its 2022 invasion of Ukraine, it sought economic countermeasures. Many of those came in the form of its burgeoning economic alliance.

Now, the bloc has grown to be much more. Indeed, it is becoming a key hope for emerging countries, with future influence being more defined by the day. That has crescendoed now in one BRICS nation, becoming the fastest-growing economy in the G20 this year. READ MORE

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11.19.24 - A Silver Price Prediction For 2025 and Beyond

Gold last traded at $2,632 an ounce. Silver at $31.21 an ounce.

EDITOR'S NOTE: Silver prices are poised for aggressive upward movement over the next several years. Some of the predictions may seem a bit high, but maybe not when you look at the fundamentals driving the market.

A Silver Price Prediction For 2025 2026 2027 – 2030 -Investing Haven

Our silver price prediction is strongly bullish. Silver will test ATH in 2025, and set new highs between 2026 and 2027. Bullish price targets: $50 in 2025, $77 before 2028. Silver peak prediction north of $82 by 2030.

InvestingHaven’s silver forecast is based on 2 decades of deep analysis, focused on understanding silver price influencers.

This silver price forecast is created based on a deep understanding and thorough analysis of silver price influencers.

The internet is full of pseudo silver price forecasts characterized by large tables which are generated by AI. Those impossible-to-read tables are so called ‘silver price forecasts‘. Our silver forecasting work is very, very different.

The topics we cover in our research predicting silver for the period 2025 through 2030: READ MORE

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11.18.24 - The Anatomy of a Bubble

Gold last traded at $2,611 an ounce. Silver at $31.16 an ounce.

EDITOR'S NOTE: Is the stock market overvalued? Is a crash coming? Either way, preparing for it is never a bad strategy. We maintain that gold and silver will always have a place in a well-balanced portfolio, as does Mr. Sharp. The future for gold and silver looks bright, especially at current prices.

The Anatomy of a Bubble -Daily Reckoning

by Adam Sharp

“Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.”

-John Templeton, legendary mutual fund manager

In 2006, I asked a realtor friend if we were in a housing bubble.

He assured me that everything was fine. Defaults were low – and this is my favorite – “housing prices always go up”.

Back then, I didn’t know that the Federal Reserve had intentionally created the real estate bubble.

As Paul Krugman wrote in 2002, “Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble.”

The Fed did just that, lowering interest rates to record lows, and spurring a huge increase in home prices.

Over the next few years, the home lending market was “financialized” to an incredible degree. Credit default swaps, mortgage-backed securities, and subprime loans all flourished.

The end result was a gigantic mess that almost took down the largest banks in the U.S.

But in the midst of it, almost everybody loves a bubble. It’s an exhilarating experience.

Governments also love speculative manias. They create a windfall of tax revenue, and make it a heck of a lot easier for politicians to get re-elected (until they crash). But who cares about a crash, right? That’s far in the future and politicians won’t bear any responsibility anyway. READ MORE

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11.15.24 - Powell Warns "Bumpy Path" Ahead

Gold last traded at $2,563 an ounce. Silver at $30.28 an ounce.

EDITOR'S NOTE: Bumpy path ahead? Haven't we been on a bumpy path for a while now? When I read things like this, I get the sense that our government has zero handle on things. One minute inflation is under control, and the next, it is not. The one thing I do know for certain, it can't be both.

Watch: Fed Chair Powell Warns "Bumpy Path" Ahead For Inflation, 'No Hurry' To Lower Rates -ZeroHedge

by Tyler Durden

{ZeroHedge}

Traders should expect Powell to reiterate the points he made at the FOMC press conference last week when he refused to provide specific guidance regarding the December meeting, stressed data-dependency and noted the Fed does not want to see further cooling in the labor market.

While hope remains high for the 'soft landing' narrative, today we see inflation resurgent at the same as jobless claims hit six-month lows..

.Does that look like 'data' that would prompt The Fed to cut again in December? VIEW CHARTS/VIDEO

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11.14.24 - UBS Reveals When to Buy Gold Dips

Gold last traded at $2,568 an ounce. Silver at $30.51 an ounce.

EDITOR'S NOTE: If you're wondering whether or not to buy gold - or simply when to do so - UBS has some advice for you. They are one of a multitude of financial institutions touting the importance of a gold position in every investor's portfolio, as we forge our way into 2025.

UBS Reveals When to Buy Gold Dips as Markets Signal Unseen Risks -Bitcoin News

by Kevin Helms

UBS signals a prime buying range for gold on price dips, projecting steady growth and recommending a 5% allocation in balanced portfolios.

Global investment bank UBS published a report Monday highlighting the enduring value of gold as a hedge, despite a recent pivot among speculators toward equities following the U.S. presidential election. While the market appears optimistic, UBS cautions that policy uncertainty under the new administration remains high.

Noting that a downtrend in the U.S. dollar and Treasury yields could bolster gold prices over the coming months, the report states: Crucially, the fundamental supports for the demand for gold as a hedge and diversifier remain very much intact.

UBS advises investors to remain cautious, noting the unpredictable aspects of the new administration’s policies. “Investors need to remember that much is still unknown about Trump’s policy agenda, including which existing policies might be reversed. This uncertainty is very much double-edged, especially given the market’s lopsided pricing in of risks. Investors should continue to retain gold as a portfolio hedge for the following reasons,” UBS detailed. READ MORE

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11.13.24 - How Do You Create A Recession?

Gold last traded at $2,581 an ounce. Silver at $30.57 an ounce.

What To Expect From Trump's First Day in Office -ZeroHedge

Now that the election is over, many of us find ourselves wondering what we can expect when President Elect Trump takes office? Based on his statements during the campaign, here is a breakdown of what the first 45 days may hold.

Authored by Janice Hisle via The Epoch Times

Based on his campaign trail statements, President-elect Donald Trump is poised to sign a flurry of executive orders as soon as he regains power on Jan. 20, 2025.

He will become only the second former U.S. president to return to office after losing a reelection bid. President Grover Cleveland, a Democrat, served as the 22nd and 24th president in the late 1800s.

Trump, a Republican who served as the 45th president, will become the 47th president after defeating Vice President Kamala Harris in the Nov. 5 election. She became a replacement candidate for the Democratic Party after President Joe Biden, the 46th president, dropped out of the race on July 21.

Throughout Trump’s 2024 presidential campaign, which he began in late 2022, Trump has stated that he plans to begin tackling numerous issues on “day one,” ranging from border security to the economy.

He has repeatedly made pledges that would make for a busy first day in office in 2025. READ MORE

How Do You Create A Recession? -Daniel Lacalle

To be honest, I've never really found myself wondering how to create a recession. Politicians, however, are well versed. Will the Trump administration be able to reverse the already-in-motion recession?

by Daniel Lacalle

How do you create a recession?

Overheating the economy with a massive increase in government spending, disguising employment with public sector jobs, and soaring federal debt. The foundation of Neokeynesian economics always rests on the idea that an economy must prioritize government spending, leading to full blown socialism. When the economy is growing, government spending rises because, allegedly, it is time to borrow and grow. When the economy overheats and enters the inevitable recession, government spending must rise again because it needs to support growth. See? The size of government in the economy increases both during and after a recession. Taxes constantly rise, but debt rises faster. Upside-down economics.

The Biden-Harris administration has followed exactly the policies of the Greek, Spanish, and French socialists into an election year prior to their countries’ crises. The strategy involves inflating the GDP through excessive government spending, creating an uncontrollable deficit during a period of economic recovery, and masking employment through government jobs financed by increased debt. In the process, the printing of money results in the highest inflation in decades.

Why would a government do this? Firstly, it serves to present inflated headline GDP and employment figures. Secondly, they can attempt to attribute inflation to supermarkets, corporations, and anyone else besides the government, which prints currency without any control. Thirdly, they can attribute the debt bubble’s burst to the upcoming administration’s efforts to rein in spending and debt levels. Fourth, if they had emerged victorious in the elections and the recession erupted, they would pledge to increase spending, increase taxes, and justify even higher public debt, claiming “extraordinary” circumstances.

Of course, now that the Harris-Waltz team has lost the elections, Democrats can blame Trump and Vance for the recession they have engineered. If Trump falls into the trap of maintaining elevated government spending and high taxes, he will be blamed for the new debt and the deficit. If he does not, he will be blamed for the deterioration of the public sector and the economic contraction. READ MORE

BRICS: 3 Countries & 1 Continent Make Bold Plans to Ditch US Dollar -Watcher.Guru

The revolution of dollar abandonment continues to gain momentum, as Russia spreads its agenda to several African nations. With each successful, dollar-free transaction, more and more nations will be willing to jump on the bandwagon.

by Vinod Dsouza

Three BRICS members Russia, India, and China kick-started the de-dollarization agenda by settling a portion of their trade in local currencies and not the US dollar. The three countries have been partially successful in their quest as several oil deals were traded in local currencies. Even Saudi Arabia joined the bandwagon by purchasing Russian oil and discounted prices and laundering it across Europe. Impressed by the success of de-dollarization, several countries in the African continent have come forward with plans to sideline the US dollar.

Many African countries were on the sidelines as de-dollarization kicked steam but are now interested in joining the fold. BRICS member Russia has partnered with several African countries to use local currencies and not the US dollar for trade. The Russian-African partnership forum published on their website that they’re working on the importance of expanding local currency usage.

“We stress the necessity to expand the use of national currencies in trade and financial transactions between the Russian Federation and the states of the African continent,” read the statement. “We stress the necessity to expand the use of national currencies in trade and financial transactions between the Russian Federation and the states of the African continent,” the ministry said. READ MORE

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11.11.24 - De-Dollarization Is Unstoppable

Gold last traded at $2,619 an ounce. Silver at $30.69 an ounce.

EDITOR'S NOTE: It's no surprise that many are suggesting the BRICS' de-dollarization effort is here to stay. As momentum continues to build, the general consensus is that this will be a long process, but one the member nations will see through to the end.

BRICS: De-Dollarization Is Unstoppable -Watcher.Guru

by Vinod Dsouza

Whether you like it or not, the de-dollarization agenda kick-started by the BRICS alliance is here to stay. There is no denying that the US dollar reigns supreme despite multiple global challenges, but how long can it fend off its adversaries? In the early 20th century, the United Kingdom had its colonies all across the world and ran a famous phrase ‘the sun never sets on the British empire’. Its territories were so large, that you were considered crazy if you would think it would all end someday.

In no surprise, the sun did set on the British empire just 45 years after the phrase came into existence. The UK is now a country struggling with finances and its colony India, which is a BRICS member has surpassed it through a robust GDP. The turn of events could be brutal as time passes by and those who think that the US dollar will remain supreme forever need a reality check of the British empire.

The BRICS bloc confirmed that the de-dollarization agenda is a long-term goal and will fight could go on for decades. The more the fight prolongs, the higher the chances are of bringing the US dollar down from the reserve currency status. How the endless wars brought down the British empire, a similar fate could hit the US dollar.

The New Development Bank, commonly called the BRICS bank made it public that de-dollarization is not a short-term goal. “The development of anything alternative is more a medium to long-term ambition,” said Leslie Maasdorp, VP of New Development Bank to Fortune. READ MORE

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11.8.24 - Buffett sells more stock, freezes buybacks

Gold last traded at $2,687 an ounce. Silver at $31.33 an ounce.

EDITOR'S NOTE: The Oracle of Omaha has spoken - quite a bit in recent months - through his massive shedding of certain stock positions, including those in his own company. He has hinted in the past that he believes capital gains taxes will only be going up but is this the only reason he has been cashing out and passing up buy backs? Some believe even he feels his stock is overvalued at the moment. What will this mean for markets going forward?

Berkshire Hathaway's cash fortress tops $300 billion as Buffett sells more stock, freezes buybacks -CNBC

by Yun Li

Berkshire Hathaway's monstrous cash pile topped $300 billion in the third quarter as Warren Buffett continued his stock-selling spree and held back from repurchasing shares.

The Omaha, Nebraska-based conglomerate saw its cash fortress swell to a record $325.2 billion by the end of September, up from $276.9 billion in the second quarter, according to its earnings report released Saturday morning.

The mountain of cash kept growing as the Oracle of Omaha sold significant portions of his biggest equity holdings, namely Apple and Bank of America.

Berkshire dumped about a quarter of its gigantic Apple stake in the third quarter, making the fourth consecutive quarter that it has downsized this bet. Meanwhile, since mid-July, Berkshire has reaped more than $10 billion from offloading its longtime Bank of America investment.

Overall, the 94-year-old investor continued to be in a selling mood as Berkshire shed $36.1 billion worth of stock in the third quarter.

Berkshire didn’t repurchase any company shares during the period amid the selling spree. Repurchase activity had already slowed down earlier in the year as Berkshire shares outperformed the broader market to hit record highs.

The conglomerate had bought back just $345 million worth of its own stock in the second quarter, significantly lower than the $2 billion repurchased in each of the prior two quarters. The company states that it will buy back stock when Chairman Buffett “believes that the repurchase price is below Berkshire’s intrinsic value, conservatively determined.” READ MORE

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11.7.24 - Gold holds firm after US Fed rate cut

Gold last traded at $2,705 an ounce. Silver at $32.04 an ounce.

EDITOR'S NOTE: As we mentioned yesterday, now is the time to buy the dips; if you can find them. Markets reacted as expected to the election news, but the fundamentals driving the metals rally are still firmly in place.

Gold holds firm after US Fed rate cut, softer dollar -Reuters

by Brijesh Patel and Anjana Anil

Gold prices rose more than 1% on Thursday, helped by a retreat in the U.S. dollar, while the Federal Reserve cut interest rates by a quarter of a percentage point as widely expected.

Spot gold was up 1.2% at $2,691.36 per ounce as of 2:22 p.m. EST (1919 GMT), after dropping to a three-week low on Wednesday. U.S. gold futures settled 1.1% higher at $2,705.80.

At the end of a two-day policy meeting, the U.S. central bank lowered the benchmark overnight interest rate to the 4.50%-4.75% range, with policymakers taking note of a job market that has "generally eased".

Lower U.S. interest rates put pressure on the dollar and bond yields, increasing the appeal of non-yielding bullion.

"Gold remains in a strong bull market and no event this week, from the election to today's Fed decision, is likely to change that," said Tai Wong, an independent metals trader.

"Unless Powell leans towards a pause today, gold is likely to take back yesterday's knee-jerk losses," Wong added. READ MORE

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11.6.24 - A golden buying opportunity?

Gold last traded at $2,666 an ounce. Silver at $31.21 an ounce.

Gold Is on the Ballot -Daily Reckoning

We initially posted this story on Monday but its insights bear repeating post-election. We wholeheartedly agree with Mr. Rickards' conclusion here, "Remember, the purpose of gold is not to make us rich. It is to preserve our wealth during times of chaos. And gold will continue to play that role no matter who wins the election."

by James Rickards

A reader recently asked me which presidential candidate would be more bullish for gold.

That one’s easy. Kamala Harris.

A President Harris administration would preserve and strengthen the status quo. To start with, we’d see a continued bonanza of bad regulation, spending and taxes. Add in poor capital allocation and misaligned incentives, and we have a recipe for stagflation and reckless monetary policy.

But an often-ignored catalyst for gold is U.S. foreign policy.

Under President Biden and VP Harris, world stability has deteriorated. Nations are lining up in two distinct blocs, not dissimilar to the buildup before World War II. Military tension hasn’t been this high in many decades.

Biden and Harris have also greatly accelerated the weaponization of the dollar. Sanctions and financial warfare have become the de facto levers applied to protect U.S. national interests (real and perceived). READ MORE

Gold prices plummet on Trump win; analyst says to look for buying opportunities -The Jerusalem Post

The markets are reacting as expected to a Trump victory with a drop in metals and commodities prices, but is this a perfect opportunity to buy the dip? Market chaos won't be resolved any time soon, now is the time to diversify properly so your portfolio can weather the storm.

by Tim Zyla

The New York Times predicts a Republican-controlled Senate. It suggests a high likelihood of a Republican House of Representatives, too, which would give Trump complete control of Congress and the ability to advance his planned policies.

In reaction to the news, commodities prices were largely lower during Wednesday morning trading amid a spike in the dollar's strength. The U.S. Dollar Index (DXY) rallied 1.67% to 105.15.

Silver prices traded more than 4% lower to about $31.40 an ounce and platinum prices also dropped $20 an ounce, or about 2%, to $980 an ounce.

Of commonly traded metals, copper was hurt the most amid fears that Trump would introduce tariffs that could harm an already ailing Chinese economy with infrastructure plans that rely heavily on the use of copper. It was down more than 4.5% to $4.24 per pound Wednesday morning.

Blue Line Futures Chief Market Strategist Phillip Streible said more volatility should be expected in the short term as stop losses are hit in futures markets for gold and silver. However, he noted Wednesday’s significant drop could present a notable buying opportunity. READ MORE

US fiscal strain looms as key challenge for newly elected Trump -Reuters

President Elect Trump has an uphill battle ahead of him in regard to the economy. Let us hope his ideas for making our economy strong again prove correct. In the meantime, expect a lot of volatility.

by Davide Barbuscia

Newly elected U.S. President Donald Trump will face fiscal challenges that could threaten the country's standing in the global debt markets, hurting investor appetite for the nation's debt securities, and pushing government borrowing costs higher.

U.S. budget deficits and government debt levels were largely projected to surge under either candidate in the Nov. 5 election, according to several estimates, although Democrat Kamala Harris was expected to add less debt than Trump.

The prospect of rising government debt levels as Trump's odds improved in recent weeks helped send U.S. government bond yields higher, as many believe his trade and tax policies will reignite inflation and worsen the U.S. fiscal picture. On Wednesday, as results showed Trump winning the election, yields jumped higher with some citing bond vigilantes, referring to investors dumping government debt over worries about rising deficits. The benchmark 10-year Treasury yield rose as high as 4.479%. READ MORE

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11.5.24 - The Silver Short Squeeze

Gold last traded at $2,742 an ounce. Silver at $32.66 an ounce.

EDITOR'S NOTE: Could a predicted, explosive silver run outshine gold's historic run in the coming months and years? The fundamentals are in place for the white metal to experience massive gains. As this author states, the coming pressure on the silver market could, "reshape the precious metals landscape forever."

The Silver Short Squeeze: A Historic Market Battle in the Making -The Jerusalem Post

by ERAN TAL

As industrial demand soars and physical supplies dwindle, the silver market approaches a historic breaking point. Could the looming 'silver squeeze' create the investment opportunity of a generation?

In the shadowy world of precious metals trading, a storm is brewing. The silver market, long considered the neglected cousin of gold, stands on the precipice of what could become one of the most spectacular short squeezes in financial history. This isn't just another market manipulation story – it's a confluence of structural weakness, industrial necessity, and growing awareness that could reshape the precious metals landscape forever.

The Banking Cartel's Silver Scheme: Decades of Price Suppression

The story of silver price suppression by major financial institutions reads like a financial thriller, yet it's documented fact rather than fiction. For decades, a small group of powerful banks has maintained massive short positions in silver, effectively acting as a cartel to control and suppress prices. This isn't conspiracy theory – it's evidenced by multiple regulatory investigations, lawsuits, and eventual settlements.

This history of manipulation adds another explosive element to the coming silver squeeze. As banks potentially race to exit their short positions and protect their physical holdings, their very efforts to escape the trap they created could accelerate the squeeze's momentum. READ MORE

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11.4.24 - Gold is on the Ballot

Gold last traded at $2,737 an ounce. Silver at $32.45 an ounce.

EDITOR'S NOTE: Gold will continue to perform well regardless of who is elected, as the factors behind its run won't go away overnight. We wholeheartedly agree with Mr. Rickards' conclusion here, "Remember, the purpose of gold is not to make us rich. It is to preserve our wealth during times of chaos. And gold will continue to play that role no matter who wins the election."

Gold Is on the Ballot -Daily Reckoning

by James Rickards

A reader recently asked me which presidential candidate would be more bullish for gold.

That one’s easy. Kamala Harris.

A President Harris administration would preserve and strengthen the status quo. To start with, we’d see a continued bonanza of bad regulation, spending and taxes. Add in poor capital allocation and misaligned incentives, and we have a recipe for stagflation and reckless monetary policy.

But an often-ignored catalyst for gold is U.S. foreign policy.

Under President Biden and VP Harris, world stability has deteriorated. Nations are lining up in two distinct blocs, not dissimilar to the buildup before World War II. Military tension hasn’t been this high in many decades.

Biden and Harris have also greatly accelerated the weaponization of the dollar. Sanctions and financial warfare have become the de facto levers applied to protect U.S. national interests (real and perceived). READ MORE

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11.1.24 - How the US Economy Is Undermining the Dollar

Gold last traded at $2,736 an ounce. Silver at $32.46 an ounce.

EDITOR'S NOTE: It's easy to pin the deterioration of the dollar on foreign entities, but it appears most of the dollar's destruction is domestically self-induced. Is our country capable of making the policy changes necessary to curb spending and restore the dollar to its former glory?

De-dollarization 2025: How the US Economy Is Undermining the Dollar -Watcher.Guru

by Vladimir Popescu

Countries worldwide are moving away from the U.S. dollar. This de-dollarization comes as the U.S. economy struggles with serious internal problems. These issues now threaten the dollar’s global trade position more than any foreign competition.

Former Federal Reserve and Treasury economists say America’s policies are the main risk to its currency’s power.

The U.S. will face a $2.6 trillion federal budget deficit by 2034. Political deadlock blocks any real financial fixes.

As Kamin and Sobel note, “Given the political polarization of the country, the dysfunction of the US Congress, and the disinterest of politicians of all stripes in curbing the widening US budget deficit, this is hardly unthinkable.”

These domestic problems are the main threat to the dollar’s power, potentially accelerating de-dollarization process. VIEW CHARTS AND READ MORE

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10.31.24 - Why gold will climb another 8% by the end of 2025

Gold last traded at $2,746 an ounce. Silver at $32.67 an ounce.

EDITOR'S NOTE: Goldman Sachs is predicting further increases in the price of gold. They are one of several firms who see $3,000 an ounce gold in the near term. Their timeline is a little longer than many we've seen, but their projection is comfortably attainable given gold's current trajectory.

3 reasons why surging gold prices will climb another 8% by the end of 2025, Goldman says -Business Insider

by Filip De Mott

A gold-buying spree has turned the yellow metal into one of this year's hottest investments.

Though the commodity has already soared more than 30% year-to-date, Goldman Sachs anticipates that there's even more upside in store next year.

In a note published Tuesday, the bank projected that gold will reach $3,000 an ounce by the end of 2025, implying an 8% increase from its current price.

It offered three reasons for the forecast:

First, high demand from central banks will continue, though Goldman does expect gold buying to slow next year.

Central banks have sought gold with new intensity since Western sanctions were placed on Russia for its invasion of Ukraine. Some countries treated this as a lesson to diversify reserves away from the greenback, prompting high demand for the bullion metal.

"We assume that central bank purchases will moderate to a monthly pace of 30 tons — about a third of the elevated 85 tons average monthly pace observed since 2022, but structurally higher than the 17 tons monthly average pace before the freezing of Russia's reserves—by end-2025," analysts wrote. READ MORE

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10.30.24 - Is the Dollar Collapsing?

Gold last traded at $2,787 an ounce. Silver at $33.80 an ounce.

“The American System” Made America Great -Daily Reckoning

We've been taught since grade school that tariffs are bad; but is this more of a modern idea? Some of America's greatest years of prosperity were brought about by policies that nurtured domestic industry, including tariffs. Could a return to tariffs right our economic ship?

by James Rickards

It’s hard to believe, but the presidential election is just one week away. It’ll all come down to the key swing states of Pennsylvania, Michigan, Wisconsin, Georgia, North Carolina, Arizona and Nevada.

It’s a tight race, although it appears to be breaking for Trump.

The Democratic strategy is essentially to call Trump Hitler and a would-be dictator who would jail his political opponents (sound familiar?) and destroy democracy.

Though they focus much more on Trump the man than his actual policies, it’s important to understand Trump’s position on tariffs, for example, because it would impact millions of Americans.

Donald Trump recently did an interview with John Micklethwait, Bloomberg’s top editor and a former editor of The Economist.

Micklethwait made the tired point that Trump’s tariffs would raise prices and be bad for Americans. READ MORE

Is the Dollar Collapsing? 7 Key Indicators You Can’t Ignore

If you believe the answer to this question is yes, then you also believe gold will shine through whatever turmoil the dollar faces. This author believes gold prices will continue on their upward trajectory. As he puts it, "nobody can arbitrarily inflate the supply" which makes it a perfect store of value in troubling times.

by Nick Giambruno

As outlined in the graphic, there are seven key indicators to watch as the US government falls deeper into the self-perpetuating debt spiral that I think will culminate in the collapse of the US dollar.

Indicator #1: Federal Budget Deficits

The chart below shows the actual and projected federal budget deficits.

It’s important to note that the projections have the ridiculous assumption that there will be no wars, recessions, or other events that cause extra federal spending.

Even with this rosy and unrealistic forecast, the US government is projected to have a cumulative deficit of over $22 trillion over the next ten years, which will have to be financed by issuing more debt. VIEW CHARTS AND READ MORE

BRICS: U.S. Dollar Crisis Could Begin in 2025 -Watcher.Guru

Well known financial minds are starting to sound the alarm on the BRICS effort to supplant the dollar and what it would mean for the overall economy. The dollar is already in a rather precarious position as we head into the end of the year, further decline could be on the horizon.

Leading U.S. economist and gold proponent Peter Schiff has warned that the dollar crisis could begin as soon as 2025. The USD is already in a precarious position as developing countries are ending dependency on the currency. This strengthens the BRICS agenda of de-dollarization that could further weaken the U.S. dollar. It’s only a matter of time before things head south that could become a full-blown economic crisis, the analyst explained. According to Schiff, the DXY index, which measures the performance of the U.S. dollar is showing major signs of weakness.

The index tracks the value of the USD against a basket of foreign currencies, including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. The index is now at 104.28 and Schiff forecasted that it could dip below the 90 level in 2025.

Schiff rang the warning bells explaining that the economy crashing could send consumer prices and long-term interest rates soaring. “I think that low will be breached in 2025. Triggering a U.S. dollar crisis, crashing the economy, and sending consumer prices and long-term interest rates soaring,” he said. READ MORE

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10.29.24 - The Golden Rule Is Real

Gold last traded at $2,772 an ounce. Silver at $34.40 an ounce.

EDITOR'S NOTE: The Golden Rule is a familiar principle to us all. This, however, is a new twist on the adage that makes sense to heed in our current climate. With BRICS getting ever closer to their own gold-backed currency, the time to enter the gold market is now.

The Golden Rule Is Real -Daily Reckoning

by James Rickards

There’s so much to discuss right now, from the upcoming election to geopolitical instability. But today I want to talk about gold. I call it the once — and future — money.

The use of gold as money existed from antiquity until gold backing broke down entirely in 1971. Still, central banks and finance ministries hold over 37,000 metric tonnes of gold in reserve.

Why? The answer is that gold is still at the base of global monetary systems. It’s simply the case that no government wants to admit this because the shortage of gold relative to bank notes would be exposed if they did.

But gold is coming to the fore of the monetary system again. Central banks are buying gold as fast as they can. Let’s look at some pertinent data before turning to the key geo-economic trends that will drive the dollar price of gold much higher in the near future.

The dollar price of gold today is $2,754 per ounce (subject to the usual daily fluctuations). As recently as Nov. 3, 2022, gold was $1,630. That’s a 69% gain in under two years. Gold was $1,375 per ounce in early June 2019.

That means the dollar price of gold has doubled in just over five years.

Most of the gains over that period have occurred in the past year. Gold was still $1,845 in October 2023. Whether we consider a multiyear trend or a more recent trend, gold has moved steadily higher with dramatic momentum lately.

There’s a simple but important bit of math behind these price moves that investors should understand. It’s the key to making huge profits in gold in the months ahead. READ MORE

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10.28.24 - Metals set for best gains in a decade

Gold last traded at $2,742 an ounce. Silver at $33.67 an ounce.

EDITOR'S NOTE: 'The best positioning for the precious metals in a decade', this according to Citi's commodities research chief, Max Layton. We have already seen some major gains, but more are coming. The time to get started, or to add to your portfolio, is now!

Why gold and silver are in the best environment for gains in a decade, according to Citi's commodities research chief -Business Insider

by Kelly Cloonan

Gold and silver are on a hot streak, but the metals still have room to run, according to Citi's head of commodities research, Max Layton.

Layton says the best bull markets for gold and silver are typically when markets in the US and Europe are weakening, and as China looks poised to strengthen.

That's the setup now as Western economies slow and stimulus measures set to boost China's growth trajectory. He says it's the best positioning for the precious metals in a decade.

"I am bullish on gold and silver over the next couple of months," Layton told CNBC in a Friday interview, explaining that the best bull markets for gold and silver in the last 20 years have happened when developed markets are weak or weakening and when China is easing and potentially set to strengthen.

"This is the best setup for gold and silver, certainly for a decade," he added. READ MORE

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10.25.24 - Buffett continues to dump banks

Gold last traded at $2,745 an ounce. Silver at $33.66 an ounce.

EDITOR'S NOTE: The Oracle of Omaha, Warren Buffett, continues to unload bank stock. To many, this signals an unfavorable outlook for the sector. He has been tight lipped as to why he's cashing out, but selling stock is never a sign of confidence.

Billionaire Warren Buffett Dumps $10,500,000,000 in Berkshire’s Bank of America Stake After Slashing JPMorgan Chase, Wells Fargo Investments To Zero: Report -The Daily Hodl

Warren Buffett has now sold a staggering $10.5 billion of Berkshire Hathaway’s stake in Bank of America in a matter of months.

New filings with the U.S. Securities and Exchange Commission shows the firm just sold an additional 8.54 million shares in September and October, worth $337.86 million.

The move follows Berkshire’s complete exit from JPMorgan Chase and Wells Fargo positions in recent years and marks 15 rounds of relentless BofA sales.

The selling has dropped Berkshire’s overall stake in the bank to below 10%, reports Fortune.

The threshold is significant, as it will allow Berkshire to report its BofA trades every quarter instead of every few days. That means investors won’t know if Berkshire continues to sell until mid-November.

Buffett has been tight-lipped on why he’s specifically reduced the firm’s exposure to Bank of America, although he outlined his concerns with the banking sector at large last year.

“You don’t know what has happened to the stickiness of deposits at all. It got changed by 2008. It’s gotten changed by this. And that changes everything.

We’re very cautious in a situation like that about ownership of banks.” READ MORE

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10.24.24 - BRICS Currency Officially Unveiled

Gold last traded at $2,735 an ounce. Silver at $33.76 an ounce.

EDITOR'S NOTE: The BRICS alliance has been discussing a new currency for some time now, and has now presented an initial prototype. Many believe this could be the death blow to the dollar and shift global financial power drastically.

BRICS Currency Officially Unveiled -Watcher.Guru

by Jaxon Gaines

A mock-up of the upcoming BRICS currency has finally been unveiled at the alliance’s ongoing summit in Kazan, Russia. Indeed, Russian president Vladimir Putin was seen with a mock-up up “BRICS bill” at the summit, the first time the new currency has been put on display.

The BRICS bill in question features the five BRICS nations’ flags (Brazil; Russia; India; China; and South Africa) connected together to form a circle. The displayed currency appeared to be a note with a value of 100. On the flip side of the note appears to be multiple additonal flags, likely of new interested countries that may join BRICS. These include Mexico; Egypt, Nigeria, and Bahrain.

The BRICS bloc has yet to formally announce the launch of the new BRICS currency, however, it has been at the front and center of conversations within the bloc for years. Earlier today, Chinese President Xi Jinping made a historical announcement regarding the bloc’s new payment system. Speaking to those in attendance, the president discussed why the system is so important to groups that continued seeking a multipolar world. “There is an urgent need to reform the international financial architecture,” Jinping said. “BRICS must play a leading role in promoting a new system that better reflects the profound changes in the international economic balance of power,” he added. READ MORE

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10.23.24 - Record High Gold Price Signals "Fragmenting Global System"

Gold last traded at $2,719 an ounce. Silver at $33.76 an ounce.

Silver Alert – Gold To Silver Ratio Now Testing An Important Breakdown Level -Investing Haven

Gold and silver have both experienced impressive gains for the year. These gains are due to industrial and safe-haven demands across the globe that continue to build. This article takes a deeper look at the relationship between the two metals.

The 75-point level in the gold to silver ratio is one of the most important levels, historically. It is being tested now. What’s next?

In this article, we look at the possibility of a quick silver run to $50 without using a specific silver chart.

Gold to silver ratio – the importance of 75 points

As explained in great detail in Gold-to-Silver Ratio Historical Chart:

• This ratio has spent most of its time (50 years of data) in the area 65 to 95 points.
  
• The few times in which silver touched the area around 95 points marked epic silver price under-valuations.
  
• The few times in which silver fell below 65 points coincided with silver price spikes.
  
• The 75 point level is a critical level, typically coinciding with an acceleration point in spot silver.

The last point, above, is important, when checked against the gold to silver ratio chart shown below.

The chart is self-explanatory: a tiny move higher in the price of silver, and the probability for an epic rally in spot silver rises exponentially.

Below is the secular gold to silver price chart. VIEW CHARTS AND READ MORE

Record High Gold Price Signals "Fragmenting Global System"; El-Erian Warns -ZeroHedge

If you're wondering what in the world is going on in this crazy financial world, you need only look at the price of gold to know. Gold prices have experienced growth to the tune of 40% in the last year and it's believed the gains have only just begun. Here's what we can learn by looking at gold's performance.

authored by Mohammed El-Erian

Something strange has happened to the price of gold over the past year. In setting one record level after the other, it seems to have decoupled from its traditional historical influencers, such as interest rates, inflation and the dollar. Moreover, the consistency of its rise stands in contrast to fluctuations in pivotal geopolitical situations.

Gold’s “all-weather” characteristic signals something that goes beyond economics, politics and higher-frequency geopolitical developments. It captures an increasingly persistent behavioural trend among China and “middle power” countries, as well as others. And it is a trend that the west should be paying greater attention to.

Over the past 12 months, the price of an ounce of gold on international markets has increased from $1,947 to $2,715, a gain of almost 40 per cent. Interestingly, this march up in price has been relatively linear, with any pullback attracting more buyers. It has occurred despite some wild swings in expected policy rates, a wide fluctuation band for benchmark US yields, falling inflation and currency volatility. READ MORE

BRICS De-Dollarization Begins: 40 Countries To Attend 2024 Summit -Watcher.Guru

What started off as a few nations embarking on a revolutionary financial journey, has now grown into dozens of nations furthing the de-dollarization movement. The problem is that the ultimate goal of these nations is to make the dollar disappear from the global stage.

by Vinod Dsouza

The de-dollarization initiative is no longer confined to BRICS as other emerging economies are participating in the discussions at the 2024 summit. The outreach session will be conducted on the last day of the summit on October 24, 2024. Topics such as de-dollarization, new trade policies, and the usage of local currencies will take center stage. The nine-member alliance will meet for the first time at the table for discussions after the expansion last year.

Russian President Vladimir Putin confirmed that officials from 40 countries will attend the outreach session at the BRICS 2024 summit. The participants include countries from the Commonwealth of Independent States (CIS), Asia, Africa, Eastern Europe, South America, and the Middle East. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade.

“On the last day of the summit, there will be a meeting in the BRICS Plus/Outreach format with the participation of representatives from almost 40 countries,” he said. The BRICS outreach will highlight the importance of de-dollarization and the need to end reliance on the US dollar. Representatives from various international organizations will also attend the outreach session of the BRICS 2024 summit.

The BRICS alliance is strengthening the de-dollarization agenda at the 2024 summit by convincing developing countries to end dependency on the US dollar. The move will bolster the native economies of developing countries and safeguard their local currencies and businesses. READ MORE

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10.22.24 - Can The Silver Price Rise To $100?

Gold last traded at $2,747 an ounce. Silver at $34.80 an ounce.

EDITOR'S NOTE: Can the silver price rise to $100? This question would have seemed preposterous two years ago. Given the current dynamic in the global economy and the movements in the silver market lately, it's a firm possibility. The stage is being set for some explosive gains. We suggest our clients take advantage of positioning in silver at these levels.

Can The Silver Price Rise To $100? -Investing Haven

Silver might rise to $100 /oz in the timeframe 2027-2028.

Silver requires either exceptional market conditions like rising inflation or an extreme shortage in order to rise to $100 /oz which might not be its endpoint once it clears ATH at $50.

October 21st – Silver charts are updated to reflect recent silver price action. In this article, we do a big picture analysis.

Note – We don’t see any value in silver news, certainly not fundamental precious metals news.

Our latest silver prediction is based on historical data, market correlations and chart readings. It’s a data driven way to analyze precious metals, in the exact same way we successfully analyze other markets.

Just to be clear, the analyst team at InvestingHaven is unbiased. No silver perma-bulls over here.

An important quote from the article mentioned above:

To be honest, our viewpoint is that all conditions are in place for silver to run to its two higher targets: $34 and $50. The question why silver is not trading at those levels is a good question to ask. The ‘silver manipulation’ theme comes up as an answer. Concurrently, the other answer that comes up is ‘opportunity’: if an asset is undervalued, it usually is a matter of time until a rebalancing act occurs.

With that said, we will take a big picture viewpoint in this article. While the points outlined above are relevant in 2024 and 2025, we think in terms of “how high can silver go this decade” in this article.

Remember, a silver price rise to to $100 an Ounce is not an idea that will materialize in 2025. It marks a secular cycle top, most likely, later this decade. READ MORE

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10.21.24 - BRICS Control 20% of the World’s Gold Reserves

Gold last traded at $2,720 an ounce. Silver at $33.84 an ounce.

EDITOR'S NOTE: The BRICS nations control 20% of the world's gold reserves. There's an old saying, "whoever owns the gold, makes the rules". What's most frightening here is their very vocal desire to dethrone the US dollar. With this leverage, that won't be a difficult feat.

BRICS Control 20% of the World’s Gold Reserves -Watcher.Guru

by Vinod Dsouza

{Source: securityaffairs.com}

A recent report from the World Gold Council shows that the nine-member BRICS bloc controls over 20% of all the world’s gold reserves in 2024. The member nations have been massively buying the precious metal since 2022 after the US pressed sanctions on Russia. BRICS countries became the top buyer of gold in 2022 and 2023, and continue hoarding the metal even in 2024.

Russia leads the pack with 2,340 tons of gold and represents 8.1% of global reserves. China closely follows with 2,260 tons nearing 7.8% of all the reserves. India, Brazil, South Africa, and the UAE hold the other part of the reserves. Both Russia and China control 74% of all gold within the BRICS alliance.

Speculations were rife that the BRICS bloc could back their upcoming common currency with gold. The decision to launch a new currency was rumored to take place at the upcoming summit in Russia. The 16th summit will be held in the Kazan region and the nine countries will discuss policies at the table for the first time since the expansion in 2023.

A new BRICS currency backed by gold is off the cards as Russian President Vladimir Putin confirmed that the bloc plans to use local currencies for trade. The alliance could rewrite trade policies where payments between member nations could be settled in local currencies. READ MORE

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10.18.24 - Gold above unprecedented $2,700/oz milestone

Gold last traded at $2,721 an ounce. Silver at $33.74 an ounce.

EDITOR'S NOTE: As many in the investment world are waiting to see what happens in this next election, gold is putting the pedal to the metal. As the price now top $2,700, the $3,000 year end price point that many have predicted is a hop, skip and a jump away.

Global uncertainties drive gold above unprecedented $2,700/oz milestone -Reuters

By Anushree Ashish Mukherjee and Swati Verma

Gold surged above the historic threshold of $2,700-per-ounce on Friday, powered by escalating tensions in the Middle East, uncertainties around the U.S. elections and relaxed monetary policy expectations that pushed the metal into uncharted territory.

Spot gold was up 1% at $2,720.05 per ounce by 02:58 p.m. ET (1858 GMT) and has risen 2.4% so far this week.

U.S. gold futures settled 0.8% higher to $2,730.

"With the conflict intensifying – particularly following Hezbollah's announcement to escalate the war with Israel – investors are flocking to gold, a traditional safe-haven asset," said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany.

Pledges from Israel and its enemies Hamas and Hezbollah to keep fighting in Gaza and Lebanon dashed hopes that the death of a Palestinian militant leader might hasten an end to escalating war in the Middle East.

Rising geopolitical tensions prompt investors to seek safe-haven assets like gold, driven by risk aversion and concerns over global market instability.

"Adding to the momentum, concerns around the U.S. presidential election and anticipation of looser monetary policies have further fuelled the rally," Zumpfe added. READ MORE

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10.17.24 - Cuba Officially Asks to Join BRICS Coalition

Gold last traded at $2,692 an ounce. Silver at $31.66 an ounce.

EDITOR'S NOTE: The BRICS alliance continues to grow, seemingly by the day. This growth is largely due to the benefits of participation to member nations; one of which is no longer having the US Government dictate their economic moves thereby strengthening their own economy through de-dollarization. It's now starting to hit a little closer to home as North American nations are starting to see the benefit as well.

Cuba Officially Asks Russian President Vladimir Putin to Join BRICS Coalition -The Daily Hodl

by Alex Richardson

The Republic of Cuba has reportedly asked Russia if it can join the BRICS alliance, the coalition that’s competing against the US dollar hegemony.

In a post on the social media platform X, Cuban ambassador and foreign minisiter Carlos M. Pereira says the country officially asked Russian president Vladimir Putin to consider adding Cuba to BRICS.

“Cuba has officially requested to join the BRICS as a ‘Partner Country’ through a letter to the President of Russia, Vladimir Putin, who holds the Presidency of the Group, which is consolidating itself as a key player in global geopolitics and hope for the countries of the South.”

BRICS was originally established as Brazil, Russia, India, China and South Africa, but recently welcomed Iran, Egypt Ethiopia and the United Arab Emirates, which would make Cuba the tenth country to join should its application be accepted.

The group, originally founded in 2009, aims to bridge relations with countries of the Global South and Global East, and to strengthen economic trade outside of the dollar reserve system.

Cuba’s request to Putin comes days before BRICS members meet at a summit in Kazan, Russia. READ MORE

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10.16.24 - Silver Market Soon On Fire

Gold last traded at $2,674 an ounce. Silver at $31.70 an ounce.

BRICS Advances ‘Multicurrency System’ To Break US Dollar Dominance -Watcher.Guru

If you're are wondering if anything is capable of ending the US dollar and its world dominance, this is probably a good read for you. The new BRICS multicurrency payment system is aiming to do just that by circumventing the West entirely.

by Vinod Dsouza

BRICS member Russia is pitching a new idea of a ‘multicurrency payment system’ option to break the US dollar dominance. Russia is proposing changes to cross-border transactions where all currencies of existing members will be used to settle trade. The move will bolster local currencies of member nations leading to lesser dependency on the US dollar.

The new BRICS multicurrency payment system will be a ring of all currencies and become a center for mutual trade. The main agenda is to circumvent the Western financial powers and usher into a new era of global authority. Russia is pitching the multicurrency system to sanction-proof its economy and that of the existing members of the alliance.

Russia wants the new BRICS multicurrency payment system to be an alternative option to the US dollar. The “multicurrency system” will need to “ring-fence its participants from any external pressures such as extraterritorial sanctions,” read the report prepared by the Russian Finance Ministry, the Bank of Russia, and Moscow-based consultancy Yakov & Partners.

The report also read that the US interests “are not always aligned with the interests of other participants.” Russia will discuss the report and pitch the idea of a multicurrency system at the upcoming BRICS summit. The idea could find takers from China and Iran as the two countries are eager to end reliance on the US dollar. READ MORE

Silver: This Hidden ‘Risk On’ Indicator Is Breaking Out, Silver Market Soon On Fire -Investing Haven

The silver market continues to heat up. It is no wonder given the growing investor demand, industrial uses and supply shortages. Hopefully you have a good amount socked away before the real breakout occurs.

The silver market is preparing a breakout after the ultimate ‘risk on’ indicator has started breaking out. In this article, we discuss this hidden indicator and its importance to the entire silver market.

We look at the long term silver price chart (super bullish), and complement it with the silver chart adjusted for CPI (super bullish) as well as our hidden silver indicator (super bullish).

Did we say that we believe the silver market is super bullish? Yes, we did, in this article published one week ago: Silver Reaches All-Time Highs in Most Global Currencies…. Silver in USD is Next!

First things first, the silver price chart pattern, not edited.

The spot silver chart on 20 years is shown below.

While not as powerful as the 50-year silver price chart, it is clearly exhibiting a very bullish chart pattern! VIEW CHARTS AND READ MORE

Bank Paying $29,500,000 To Americans After Allegedly Bombarding People With Illegal Phone Calls, Demanding Nonexistent Debt Payments -The Daily Hodl

Yet another bank making headlines for all the wrong reasons. The misconduct committed here seems horrible if it were being done by a sophisticated crime network; but by one of our established and trusted financial institutions? Granted there was no admission of guilt by the bank in making the settlement, but $29.5 Million seems like a lot to pay if the bank could prove their innocence.

One of the largest banks in the US is preparing to hand out $29.5 million to settle accusations that the lender illegally called hundreds of thousands of people.

Citibank is accused of making unsolicited, prerecorded calls requesting debt payments to people who don’t even have accounts at the bank.

Lead Plaintiff Christine Head claims the calls violated the Telephone Consumer Protection Act.

Without making an admission of guilt, the bank has agreed to pay the $29.5 million, which will be distributed equally among class members.

The maximum amount of money each participant can claim is $2,500, unless the class member can prove they were called more than five times. READ MORE

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10.15.24 - $34B owed to customers at AmEx, Chase and Capital One

Gold last traded at $2,661 an ounce. Silver at $31.49 an ounce.

EDITOR'S NOTE: As they say, "use it or lose it". This is an interesting new twist on the topic of inflation. Customers of some major financial companies have over $34 billion worth of earned miles or rewards that are losing value. How you ask, inflation.

$34,000,000,000 Owed To Customers at American Express, JPMorgan Chase and Capital One As Reward Hoarders Get Squeezed: Report -The Daily Hodl

Customers at American Express, JPMorgan Chase and Capital One have racked up billions of dollars in unspent credit card points – but the value of those rewards is decaying.

The financial giants’ customers are sitting on a staggering $34 billion worth of unused rewards as of 2023, reports the Wall Street Journal, citing annual reports.

And the value of those rewards is falling due largely to inflation, as goods and services now require more points than they used to.

The end result is that someone who gathered 100,000 Capital One points in 2020 and left it alone now has a pile that’s effectively worth about 82,600 points.

Airlines and hotels have also quietly tweaked the number of points required for redemptions through dynamic pricing models, which tie prices to the current cash price.

Overall, the number of points or miles needed to book a flight has surged 28% since 2019, according to a study from the aviation consultancy firm IdeaWorks. READ MORE

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10.14.24 - North American Countries Joining BRICS?

Gold last traded at $2,650 an ounce. Silver at $31.28 an ounce.

EDITOR'S NOTE: The financial wildfire, affectionately known as BRICS, continues to burn out of control. The latest development is North American nations looking to get on board. This is frightening, when one considers the central focus of this alliance is total de-dollarization

North American Countries Start Applying For BRICS Membership -Watcher.Guru

by Vinod Dsouza

The BRICS alliance received applications for membership from countries in Asia, Africa, South America, and Eastern Europe. For the first time, BRICS has officially received an application to join the bloc from a developing country in North America. This puts the spotlight on the US as neighboring nations are finding the de-dollarization agenda lucrative.

Around 48 countries have now applied to join BRICS before the October 2024 summit. While 27 countries have formally applied to join the alliance, 21 nations have informally expressed their interest in BRICS membership.

The North American country Cuba has officially applied for BRICS membership in October 2024 on the heels of the upcoming summit. Russian Ambassador to Cuba Viktor Coronelli confirmed that the North American country has applied to join the alliance.

“Cuba has shown interest in joining the BRICS association,” confirmed Coronelli. “Moreover, they have already submitted an official application to the Russian side for partner status, as Russia is chairing BRICS this year. The Cubans have interest and the corresponding application has been formalized,” he said. It is now up to the other member countries to decide if Cuba will be given BRICS membership. READ MORE

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10.11.24 - The Gold Bull Cycle Has Just Begun

Gold last traded at $2,656 an ounce. Silver at $31.54 an ounce.

EDITOR'S NOTE: As this author puts it, "periods where gold outperforms tend to be chaotic." We are most assuredly living in chaotic times and the chaos is increasing by the day. Now is a time to diversify into safe havens and weather the storm.

The Gold Bull Cycle Has Just Begun -Daily Reckoning

by Adam Sharp

Cycles surround us. In markets, astronomy, and our lives.

Every day is a circadian cycle for us all. Our bodies move through phases based on our exposure to light or darkness.

Markets are also remarkably cyclical, responding to the environment around them. Interest rates, regulation, monetary policy and investor psychology all play important roles.

Precious metals are no different. The sector’s performance ebbs and flows over time.

From 2000 to 2011, gold crushed the S&P 500.

An even better example is from 1972 to 1980 when gold returned 1,256% to the S&P 500’s 97%.

Of course, stocks take their turn in the spotlight too.

From 2012 to 2021, stocks returned 336% vs gold’s 16%. And from 1980 to 1999, stocks were absolutely dominant as gold went dormant for nearly two decades.

Over the past few years, both have done well.

The point here is that it’s a cycle.

Just take a look at the chart below. It shows the ratio of S&P 500 performance vs gold through 2021. VIEW CHARTS AND READ MORE

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10.10.24 - Silver Reaches All-Time Highs in Most Global Currencies

Gold last traded at $2,629 an ounce. Silver at $31.17 an ounce.

EDITOR'S NOTE: Silver is still going. At this pace, $50 an ounce silver will be here soon. It speaks to the mounting uncertainties over the future of our country, government and economy. If our government does indeed "reboot", physical metals are the place you will want your assets to be.

Silver Reaches All-Time Highs in Most Global Currencies… Silver in USD is Next! -Investing Haven

We compare silver in USD with silver in other global currencies. Out of 10 currencies, silver is setting new ATH in 4 and silver is inches below ATH in 3 currencies.

We conclude that the global trend of silver is up. Silver is in a global bull market despite the fact that silver in USD did not hit new all-time highs (ATH).

Take-away – Is this an epic opportunity for silver in USD investors? The most likely answer is YES; it is a matter of time, most likely, until silver in USD is going to test its ATH.

This is the secular silver chart (silver in USD) without annotations. This chart has a clear setup that any analyst and chartist will recognize as a bullish cup and handle – the chart says that it’s on its way to $50 an Ounce. It’s a matter of time. VIEW CHARTS AND READ MORE

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10.9.24 - Warren Buffett's BofA Dump-A-Thon Tops $10 Billion

Gold last traded at $2,609 an ounce. Silver at $30.47 an ounce.

Billionaire Hedge Fund Manager John Paulson Predicts a Market Crash If Harris Wins – Here's What He Said -Yahoo! Finance

As we draw nearer to the Presidential election, the theories are building on how markets will react to the chosen President-Elect. This couldn't be a more pivotal moment, given the fragility surrounding our economy today. Billionaire Hedge Fund Manager John Paulson believes if Kamala wins, our markets are going to lose ... and lose big.

by Aditi Ganguly

John Paulson, the founder and President of the hedge fund turned family office Paulson & Co., has been one of the most vocal supporters of former President and Republican nominee Donald Trump. He was also reportedly under consideration as the Treasury Secretary provided Trump succeeds in the upcoming election.

The billionaire hedge fund manager first rose to prominence in 2008 after making nearly $15 billion by shorting the housing market, making him legendary on Wall Street.

Paulson has long supported Trump and was one of the biggest donors to his 2016 and 2024 campaigns. The 68-year-old Harvard graduate is estimated to have raised $48 million for Trump's current reelection campaign.

Paulson distrusts Harris because of her plans to increase corporate and personal taxes. Furthermore, the current vice president and Democratic nominee's plans to implement a "billionaire minimum tax" on unrealized capital gains have also been a source of contempt for the hedge fund manager. READ MORE

Warren Buffett's BofA Dump-A-Thon Tops $10 Billion, Nears Key 10% Non-Reporting Level -ZeroHedge

It would appear Warren Buffett hasn't changed his sentiment on his BofA stock as he continues to unload it by the truckload. Billionaire Buffett has been pretty vocal when it comes to the problems that lie ahead for BofA; along with our stock market in general. Yet another reason to be diversified into metals.

by Tyler Durden

94-year-old Warren Buffett's Berkshire Hathaway has been on a multi-month dump-a-thon of Bank of America shares. The reason for the abrupt selling, which began in mid-July, has yet to be officially disclosed but should be viewed as an ominous sign that the 'Oracle of Omaha' foresees economic trouble ahead.

The latest Bloomberg data shows that Berkshire's total proceeds from selling BofA shares have now topped a whopping $10bln.

Traders at Berkshire began paring down the massive investment in mid-July, pressuring the bank's shares ever since. In the last three trading days, Berkshire sold $383mln worth of shares.

The latest selling is the first round of Berkshire selling BofA shares since right before the pandemic. READ MORE

BRICS Make De-Dollarization New Member Entry Rule -Watcher.Guru

If you were wondering whether or not the BRICS alliance was intent on dethroning the dollar by way of de-dollarization, wonder no more. It's now a requirement for the growing list of nations that have been jumping on board this bandwagon. This could prove to be the death blow to the dollar.

by Joshua Ramos

With a plethora of nations looking to join the ever-growing BRICS bloc, the collective is set to implement new de-dollarization rules for new members. Indeed, the alliance’s 2024 chairmanship holder, Russia, announced the increased standards it will place upon nations wanting to join.

Continued expansion has been a prevailing question for the bloc. In 2023, it grew for the first time in more than two decades. Moreover, it has continued to embrace projects that oppose Western dominance in global economics. Now, the bloc is assuring any future members are on board.

The BRICS bloc has grown massively over the last two years. Since 2022, it has enjoyed a far more prominent role on the global stage. Additionally, it grew in numbers, issuing a four-nation expansion effort at its 2023 summit.

Last year, the bloc welcomed the United Arab Emirates (UAE), Egypt, Ethiopia, and Iran as its first expansion nations since South Africa in 2001. There are many who predict that could be echoed this year. Yet, it appears as though the collective is seeking to implement some new standards. READ MORE

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10.8.24 - Can America Survive Global De-Dollarization?

Gold last traded at $2,622 an ounce. Silver at $30.66 an ounce.

EDITOR'S NOTE: Can America survive global de-dollarization? In my opinion, no. I suppose 'survive' is a relative term though. It's not going to physically destroy us, but the likely financial consequences will be devastating.

Can America Survive Global De-Dollarization? -The Mises Institute

by Daniel Kowalski

“Money does not grow on trees” is an old expression of wisdom that seems to have been disregarded by 21st century American policymakers. People all over the world and throughout time base their decisions primarily through lived experience. The US dollar became the world’s reserve currency in the aftermath of World War II, which is now almost eighty years ago. There is virtually no one in power at the American government or in leading institutions who has a living memory from before that period.

In fact, the elite status of US currency has been taken for granted and is being eroded by policies that create inflation as well as sanctions that exclude other nations from participating in the global economy that America dominates through its money. There is the danger that the constant erosion could precipitate an avalanche that could cause the dollar to lose its status.

This would shock the United States economy with massive price increases on consumer goods while crippling the local, state, and federal governments because deficit spending will no longer be possible if no one buys the debt. In this scenario, states like California and New York might find themselves turning to the federal government for some type of bailout while smaller states with more balanced budgets might find themselves wondering why they should be paying the bill for someone else’s reckless spending that they had no part of, which in turn could create a crisis of unity among the United States of America. READ MORE

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10.7.24 - Silver: Most Powerful Bullish Reversal In History

Gold last traded at $2,643 an ounce. Silver at $31.64 an ounce.

EDITOR'S NOTE: If a picture is worth a thousand words, this picture (read: chart) strongly suggests value increases worth far more than just words. Silver has been quietly posting steady gains and could be getting ready to explode. Get in now before it does!

Silver: Long Term Chart Now Officially The Most Powerful Bullish Reversal In History -Investing Haven

Arguably, the long term silver chart qualifies as the most powerful bullish reversal ever, especially because of its unusual length.

One thing is clear – this chart pattern is immensely powerful.

What is not clear, however, is when silver will set new all-time highs.

While a test of current ATH is likely to happen late 2024 or the first half of 2025, it remains unclear if/when/how silver will break out to new ATH.

We had a theory about this, and explained it here: Can The Silver Price Rise To $100?

Silver chart bullish reversal

While the intellectual part of solving the question ‘when will silver hit $50‘ and ‘will silver ever hit $100‘ is challenging (hence fun to do), the bigger picture point is the current silver chart setup.

In order to see and appreciate the power of silver, one has to zoom out.

Remember – short term chart views create 100% noise in 100% of occurrences. Yet, the web is full of it, just scroll down to find that most of the ‘silver trade ideas‘ are short term oriented.

As seen on below chart, a giant cup and handle formation is unfolding on the silver chart. The current outcome is consistent without 2024 silver prediction written 12 months ago! VIEW CHART AND READ MORE

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10.4.24 - Silver's Biggest Bull Market Ever?

Gold last traded at $2,650 an ounce. Silver at $32.18 an ounce.

EDITOR'S NOTE: Who's ready for another bull market in silver? We've been hearing rumblings over the last several months and it appears the time is finally here. The stars have aligned and, more importantly, the economic factors; this could usher in some of the biggest gains the market has ever seen.

Silver: So Much Bigger Than 2011 - Daily Reckoning

by Adam Sharp

I remember the 2011 silver bull market like it was yesterday.

We had already experienced two rounds of money printing (QE) by then, and the bank bailouts were still fresh on everyone’s mind.

Silver prices shot up from $9.40 per ounce in October 2008 to over $49 in April 2011.

It was a beautiful run, but ended much too quickly for my liking. Silver stayed above $30 for almost two more years, but as the economy improved, investors lost interest for a time.

Looking back, I can see now why the 2011 rally faded. First, the Chicago Mercantile Exchange (CME) hiked margin requirements, punishing long speculators. Moreover, the U.S. was still in relatively good economic shape then. The Fed’s drastic actions hadn’t yet caused major inflation. We were “saved”, for a while.

Investment demand for silver petered out and the supply deficit never got too serious, as we’ll see below.

In today’s bull market, I see none of these issues. Silver’s current move is set to be far more durable and stronger than in 2011. And today is the perfect time to explore why. READ MORE

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10.2.24 - What does the port strike mean for the economy?

Gold last traded at $2,661 an ounce. Silver at $31.87 an ounce.

Rickards: Biggest Monetary Shock In 50 Years -Daily Reckoning

We may be getting ready to face the biggest monetary shock in 50 years if Mr. Rickards is correct; and I fear he might be. Our economy has been painfully unraveling over the last few years and it may be BRICS who delivers the final blow.

By James Rickards

I’d like to start today’s issue by extending my thoughts and prayers to those impacted by Hurricane Helene, which has devastated significant portions of the southeast with massive flooding.

The death toll is over 100 and may increase significantly. Let’s all hope the affected areas will recover.

Moving on, with so much attention focused on the U.S. presidential election, the war in Ukraine and the war in Gaza, which is spreading to Lebanon, it’s easy to lose sight of other geopolitical developments that may be even more significant in the long run.

One of these developments is the rise of the new BRICS currency and its potential role in the global monetary system.

I’ve been warning readers about the collapse of the dollar for years and I was one of the first people to alert you to the rise of BRICS.

It’s a monetary shock about to hit the global financial system, and something I consider the most significant development in international finance in over half a century.

The annual leaders’ summit of BRICS nations is being held in Kazan, Russia from Oct. 22–24, and will include announcements moving the BRICS currency plans forward in material ways. READ MORE

This is how badly the port strike could wreck the US economy -Business Insider

As if we here in the US weren't already dealing with enough economic uncertainty, our ports going on strike present an obstacle even greater than paying more at the register ... having nothing available to purchase.

by Tim Paradis

A strike involving port workers from Maine to Texas could inflict major damage on the US economy.

How high the economic wreckage piles up will depend on how long dockworkers are on the picket line, logistics experts told Business Insider.

Adam Kamins, an economist at Moody's Analytics, said a strike lasting a week or two would create backlogs but have minimal economic costs outside of areas that depend on port activity. But "anything longer will lead to shortages and upward price pressures," Kamins said.

He added that shipments of food and automobiles could take a big hit because they tend to move through the affected ports, where some 45,000 workers are striking for better wages, among other demands.

Kamins said a jump in inflation isn't likely even with a longer strike. But he added that if prices start to heat up, that could make the Federal Reserve "more cautious" about trimming interest rates. The Fed lowered rates in September for the first time in four years following its effort to knock down price growth that surged during the pandemic. READ MORE

BRICS: BlackRock Secretly Prepares for US Dollar Collapse -Watcher.Guru

In other BRICS news, a fund manager from BlackRock is also preparing for a dollar crash. It's a wonder the media isn't paying closer attention to the growth in the power bloc, because it seems like the rest of the world is doing exactly that. Much like all other market reporting, it seems we will be told just in time to let us know it has already happened.

by Jaxon Gaines

With the BRICS bloc actively seeking the demise of the US dollar, one trillion dollar asset manager in the US is secretly preparing for the greenback’s collapse. Indeed, BlackRock may be looking to protect itself and its clients with a new investment fund it has created. The $9 trillion asset manager recently launched a fund to back a new crypto stablecoin created by Ethena Labs, UStb.

Last week, the Ethena stablecoin developers said that BlackRock established a tokenized fund for the new stablecoin. The asset manager has been a strong proponent of cryptocurrencies such as Bitcoin, calling BTC a “safe haven” against global financial disasters. One of the biggest global threats to the US dollar is BRICS: the bloc consisting of numerous nations opposing the US dollar’s dominance. The bloc promotes de-dollarization and has begun executing trades with other nations without the greenback involved.

The UStb stablecoin will be backed by BlackRock’s tokenized BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which offers a stable value of $1 per token. UStb will be a separate fiat stablecoin product alongside Ethena’s USDe (USDE), a synthetic dollar stablecoin the developer launched in February.

Meanwhile, the BRICS alliance is giving hope to developing countries that want to break away from the clutches of the US dollar. Emerging economies are facing challenges from carrying the burden of the US dollar on their backs. It appears that not only is the US dollar falling outside of the US: but inside the US doubts are growing around the asset’s future. READ MORE

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10.1.24 - Will the Gold Price Surge Continue?

Gold last traded at $2,662 an ounce. Silver at $31.39 an ounce.

EDITOR'S NOTE: Gold continues its run this week, as investors around the globe look to take a position in the yellow metal. Goldman Sachs has also revised its price prediction up to $2900/oz - from $2700/oz - in the near-term. Read on to see the factors contributing to this surge; do you believe these factors will continue?

The Future of Gold: Will the Price Surge Continue? -OilPrice.com

by Charles Kennedy

The global gold market is currently experiencing a remarkable resurgence, with prices surging to unprecedented levels and investors scrambling to acquire this precious metal. The epicenters of this buy spree are India and China, where gold holds a unique cultural significance and where economic conditions have further amplified its allure.

The Price Surge: A Closer Look

Gold prices have been relentlessly upward, shattering records and defying expectations. In India, prices have risen by over 19% in 2024 compared to the previous year, reaching approximately US $812 (Rs 76,000) per 10 grams. In the international markets, gold has touched US $2,665 an ounce, setting it on course for its best annual performance in 14 years.

This price surge is not limited to physical gold alone. Gold Exchange-Traded Funds (ETFs) have also witnessed substantial inflows, with global assets under management reaching a new peak of US $257 billion. This underscores the growing investor confidence in gold as a safe-haven asset in turbulent times.

Factors Driving the Gold Rush

Several factors are contributing to this modern-day gold rush.

• Geopolitical Tensions: The ongoing Russia-Ukraine conflict and rising tensions in the Middle East have heightened global uncertainties, driving investors towards safe-haven assets like gold.
• Interest Rate Cuts: The U.S. Federal Reserve's aggressive interest rate cuts and expectations of further easing have made gold more attractive by reducing the opportunity cost of holding it.
• Weakening U.S. Dollar: The U.S. dollar's decline has made gold cheaper for holders of other currencies, further stimulating demand.
• Economic Uncertainties: Lingering concerns about global economic growth and inflation have also boosted gold's appeal as a hedge against economic instability. READ MORE

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9.30.24 - Silver's Breakout: what to watch

Gold last traded at $2,634 an ounce. Silver at $31.16 an ounce.

EDITOR'S NOTE: The silver bull has finally made its way out of the starting gate and is on the move. If you have been considering metals, but feel priced out of the gold market, silver makes a great entry point for those new to the world of precious metals. Give us a call today to get started.

Silver Is Starting To Break Out. Here's What To Watch -The Bubble Bubble Report

by Jesse Colombo

Silver spiked 4.56% on Tuesday, bringing it close to signaling the start of another leg in its bull market. Other indicators confirm this development.

Two days ago, I published a Substack piece titled “Here's When Silver Will Surge Like Gold” and followed it up with a related Twitter thread that quickly went viral. On Tuesday, China cut interest rates and unveiled an extensive stimulus package to boost its struggling economy. These announcements sparked a surge in commodities like gold, silver, and copper, bringing my bullish outlook on silver closer to fruition. I decided it was an opportune time for a quick update.

Let's start with silver’s daily chart. Since its peak in May, silver had been languishing for several months until it finally broke above a downtrend line that started in May, closing above it last Friday. In my original Substack piece, I highlighted this breakout as a promising sign of strength. On Tuesday, silver had surged 4.56%, reaching its highest level since May. Silver now needs to close above its $32.50 resistance level with strong volume to confirm that the next leg of the bull market is underway. Once silver clears the $32.50 resistance, it’s likely to surge toward $50 rapidly. I'm focusing on $50 as an intermediate-term target because it’s a significant psychological level and the peak reached during both the 1980 and 2011 rallies. READ MORE AND VIEW CHARTS

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