Dominoes Falling At Big Banks That Rigged Precious Metals Markets

By Clint Siegner – Re-Blogged From Gold Eagle

The crooked precious metals trading department at JPMorgan Chase lost another man last week. Christian Trunz pleaded guilty to criminal “spoofing” of the markets and resigned from his position as an Executive Director with the bank.

The story mirrors that of John Edmonds, the Chase banker who pleaded guilty last October for rigging gold and silver prices.

Like Edmonds’ illicit trading activity, Trunz’s was pervasive. It spanned nearly a decade – from 2007 through 2016 – and involved many “thousands” of orders.

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Directive 10-289

By Keith Weiner – Re-Blogged From Gold Eagle

Everyone must ask himself the question. Do you want the world to move to an honest money system, or do you just want gold to go up (we italicize discussion of apparent moves in gold, because it’s the dollar that’s moving down—not gold going up—but we sometimes frame it in mainstream terms).

Gold’s Going Up

We have written about the tension between these two goals before. Many people start with the former. They come to gold, as they begin to realize that the dollar is going off the rails, that there is something wrong with bail-outs, bail-ins, Quantitative Easing, Zero Interest Rate Policy, and negative interest rates. But a funny thing often happens along the way. They buy into the story of gold to $5,000 (or $65,000). They become speculators on its price. They use gold the way most people use stocks and real estate: as just another chip in Casino Federoyale, a way to make dollars.

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Fighting Inflation, Fighting Deflation, Fighting For Their Lives

By Mark J Lundeen – Re-Blogged From Gold Eagle

The Dow Jones Index closed the week down 5.38% from its last all-time high of July 15th, a month ago. But looking at the Dow Jones as Mr Bear does in the BEV chart below, with every new all-time high registered as a 0.0%, or BEV Zero, and all other daily closings as a percentage decline from their last all-time high, comes short of displaying what has happened in the stock market since July 15th.

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Central Banks In Panic Mode

By Egon von Greyerz – Re-Blogged From Gold Eagle

In this interview Max Keiser and Egon von Greyerz discuss the enormous pressures in the financial system and the coming stampede into gold. Also:

  • The final phase of the currency race to zero has just started
  • Massive energy in gold, built up over the last 6 years
  • Gold will break its all-time high of $1920, without effort
  • Gold hit new all-time highs in many currencies. Now on its way to at least $10,000 or even $50,000
  • Central banks panicking over global banking system
  • Negative rates – Government bonds, world’s most risky investment
  • At some point, investors will dump overvalued bonds, resulting in hyperinflation and implosion of bond market
  • Dow Jones stock index, will face a vicious fall very soon and in years to come

HERE IS THE INTERVIEW:

Market Advances & Declines

[A “BEV” Chart shows the last high as 0% with pullbacks, corrections, and bear mrkets as percntages below the most recent high. -Bob]
By Mark J Lundeen – Re-Blogged From Gold Eagle

This week the Dow Jones saw above average volatility, especially early in the week, but on Friday closed only 3.92% from its last all-time high.

The Dow Jones in the table below (#10) was down 6% at Monday’s close, but recovered as the week progressed to Friday’s close, and that was the story for the rest of the indexes in the table too.

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Falling Yields And Currency Turmoil

By Mike Gleason – Re-Blogged From Gold Eagle

What a wild week it’s been for investors.

The threat of global trade wars and currency wars sparked big swings across all major asset classes. Bond yields dove toward historic lows. Stocks plunged earlier in the week before rebounding sharply by Thursday. And precious metals rode a huge safe-haven wave higher.

Gold prices eclipsed the $1,500 level on Wednesday for the first time in over six years. Meanwhile, silver price pushed above $17 an ounce to record a one-year high. Both metals are up over 4% for the week.

The money metals are becoming increasingly attractive as President Donald Trump ramps up his battles against China abroad and the Federal Reserve at home.

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Big US Stocks’ Q2’19 Fundamentals

By Adam Hamilton – Re-Blogged From Silver Phoenix

The US stock markets are becoming more unstable, fueling mounting anxiety about what’s likely coming. After surging to new all-time-record highs in late July, stocks plunged in a sharp pullback as the US-China trade war escalated. Stock markets’ resiliency in the face of bearish news is partially determined by how companies are faring fundamentally. The big US stocks’ just-reported Q2’19 results illuminate these key indicators.

Four times a year publicly-traded companies release treasure troves of valuable information in the form of quarterly reports. Required by the US Securities and Exchange Commission, these 10-Qs and 10-Ks contain the best fundamental data available to traders. They dispel all the sentiment distortions inevitably surrounding prevailing stock-price levels, revealing corporations’ underlying hard fundamental realities.

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