Silver Shortages Are Here And Gold Scarcity Is Coming

MMT is the socialists’ dream. It officially stands for Modern Monetary Theory but a more appropriate name would be More Money Theory. Because MMT is just a fancy name to justify more money printing, more deficits and more debts. Socialists love MMT, because for a sovereign nation, it justifies constantly living above your means. This is of course nothing new for the US which has practised MMT for soon 70 years. Not since the early 1960s has the US had a real budget surplus. Europe has had socialist governments for decades, but for the US it is a relatively new phenomenon. Alexandria Ocasio-Cortez (AOC) has now picked up the baton from Krugman, arguing that socialism and deficit spending is the solution to the US problems and the world’s. US UBER-SPENDING Trump, who normally is as far from a socialist as you can get, is nevertheless applying MMT to the US economy by continuing to spend money that doesn’t exist. His tax cutting and uber-spending, combined with the im...

from GoldBroker.com https://www.goldbroker.com/news/silver-shortages-are-here-gold-scarcity-coming-1522

Germans Holding Record Amounts of Gold

With interest rates low and stocks considered a risky bet, German households are placing ever more of their hopes in gold. Private individuals hold 8,918 tonnes of the rare metal in total, up 246 tonnes from 2016, said researchers at the Steinbeis Research Centre for Financial Services, who conducted the research for Germany's Reisebank and based the estimate on surveys with 2,000 households. Some 4,928 tonnes were held in gold bars and coins and the rest in jewellery. Nearly three quarters of all Germans said they held gold, either in jewellery, coins or investment vehicles. According to the survey, every German over the age of 18 has on average 58 grams of gold jewelery and 71 grams of gold in the form of bars or coins. Of those who have bought gold over the past few years, more than three-quarters of them want to do so in the future. And only 7.8 percent of those who own something from the precious metal are thinking of selling. German stock excha...

from GoldBroker.com https://www.goldbroker.com/news/germans-holding-record-amounts-of-gold-1520

“Maintain Stable Prices” – Who Are The Central Banks Kidding?

One of the Fed’s three main objectives is to maintain stable prices. But they have never achieved that at least not since 1971. Again, the Fed did a volte face because they have a total inability to read the economy. The clueless Fed overslept and realised a few years too late that the US economy was overheating. So at the time when the economy was turning down, the Fed started to increase rates and implement QT (quantitative tightening). But now they are panicking and reversing policy again. I discussed the incompetence of the Fed last week. Below is the Fed’s Incompetence Chart. Some people would use a sophisticated description like an inverted yield curve when the rate goes negative. But that doesn’t tell the real story. The chart shows the 10 year US Treasury minus the Fed Funds rate. This spread has just gone negative which means that 10 year rates are lower than short term rates. This is interpreted as a high probability that a recession is imminent. Looking at...

from GoldBroker.com https://www.goldbroker.com/news/maintain-stable-prices-who-are-the-central-banks-kidding-1516

Goldbroker.fr Is Changing Its Name To Or.fr

Goldbroker.fr is changing its name to Or.fr. The goal of this change is to enhance the comprehension and identification of our services on the French-speaking markets by getting as close as possible to the term which defines best our activities in this sector: gold. This brand is thus easily recognizable and memorized for anyone interested in investment gold. "Our company, on the French-speaking markets since 2011, quickly positioned itself as a key player in the trading and storage of physical gold. Using the brand Or.fr, acquired in 2016, will allow us to strengthen our position in the market, while increasing our visibility and accessibility”, stated Frabrice Drouin Ristori, founder and CEO of Or.fr. This change is only valid for the French-speaking markets and does not entail any modifications in our services. Goldbroker.com will remain our brand on all other international markets. Mr. Etienne Dargent, previously Chief Operational Office in the compa...

from GoldBroker.com https://www.goldbroker.com/news/goldbrokerfr-changing-its-name-become-orfr-1498

China Unleashes Gold Buying Spree

In a time when reserve managers are actively selling a modest if notable amount of their dollar reserve holdings and replacing them with everything from the yen, to the euro and yen, the one country that has decided it will no longer be part of the USD monetary sphere of influence, is Russia, which has been dumping dollars and buying gold at the fastest pace in decades. Yet while Moscow's appetite for gold, which has doubled Russia's international gold reserves over the past three years, remains unparalleled, Beijing has also quietly joined its northern neighbor in casting a smaller if just as material vote of no confidence in the dollar: overnight, the PBOC reported that the world’s second-largest economy added to its gold reserves for the fourth straight month, adding to recent speculation that central banks globally will continue to build holdings even as they dispose of their US dollar reserves. According to the latest Chinese...

from GoldBroker.com https://www.goldbroker.com/news/china-unleashes-gold-buying-spree-1514

Italy’s Populists: "Gold Belongs To The People, Not Bankers"

Two weeks ago, somewhat out of the blue, ECB President Mario Draghi issued an odd statement confirming that the European Central Bank needs to approve any operation in the foreign reserves of euro zone countries, including gold and large foreign currency holdings. “The ECB shall approve both the operations in foreign reserve assets remaining with the NCBs (national central banks)...and Member States’ transactions with their foreign exchange working balances above a certain threshold,” “The purpose of this competence is to ensure consistency with the exchange rate and monetary policy of the Union.” Specifically, Draghi made this statement to two Italian members of the European Parliament. At the time it did not seem notable for any reason other than its peculiar timing, but now things are starting to make more sense as The Wall Street Journal reports that Italy’s ruling populists pushed ahead this week with efforts to seize control of the central bank and its gol...

from GoldBroker.com https://www.goldbroker.com/news/italy-populists-gold-belong-people-not-bankers-1513

The Biggest Short & The Spectacular Long

The astonishing Fed again proved the consistency of its inconsistency. Since its creation in 1913, and especially after WWII, the Fed has always been behind the curve. It is hard to believe that this is just incompetence. The recent change of policy hardly seems to be part of a plan but rather another reaction to events. Looking back at the Fed’s policy decisions, it is clear that virtually all are reactive rather than proactive. Central banks have been totally detrimental to the world economy. They serve no constructive purpose whatsoever. As a matter of fact, they are a menace to the world and actually make things a lot worse than they would be if the laws of nature would rule. The natural rhythm of ebb and flow would regulate markets effortlessly without the need for artificial interference by central banks. If demand for credit is too high, the law of supply and demand would restrict the supply by interest rates going up. And if there was no demand for credit, loa...

from GoldBroker.com https://www.goldbroker.com/news/federal-reserve-the-biggest-short-the-spectacular-long-1510