Crude Oil Prices: “Random”? Hardly

The more emotional the market, the more predictable it is. Last week’s shocking spike in crude oil prices is +12% and counting, the biggest one-week gain in five years. Media stories blame one culprit: the November 30 OPEC agreement to cut production. In absolute terms, the agreed-to cut is small: 1.2 million barrels a day, less than 2% of daily global oil production. Given the existing supply glut, that’s a drop in the bucket (no pun intended). Yet, it was a bigger cut than the market expected; plus, the fact that OPEC members came to an agreement at all was enough to play a role in soaring prices.
The Market Oracle

Gold, Silver Mixed; US Mint Coin Sales Rise

Gold futures closed lower Monday for the the fourth time in five sessions, but rebounded from a 10-month low reached in morning trading. Gold for February delivery slipped $ 1.30, or 0.1%, to settle…

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Coin News

Greenspan’s “Irrational Exuberance” Speech, 20 Years Later

This article originally was published here: https://www.wealthdaily.com/articles/remember-greenspans-irrational-exuberance-speech/8446

Twenty years ago today, former Fed Chief Alan Greenspan gave the now-infamous “irrational exuberance” speech. 

Clearly, sustained low inflation implies less uncertainty about the future, and lower risk premiums imply higher prices of stocks and other earning assets. We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past. But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?

Greenspan said he came up with the phrase “irrational exuberance” in the bathtub. And he later said, “I was acutely aware of the fact that that particular phrase was put in that speech to spook the market.”

It did, too. Japan sold off 3% that day. The next day, the Dow Industrials dropped as much as 2.2% during trading.

Of course, the Dow was also trading around 6,400 at the time…

People love to say that Greenspan was basically right, that the stock market was a bubble at the time, and that he was just a little early with his “irrational exuberance” line. Yeah, I guess if you want to call three years and 5,000 points early, you’re welcome to do so. But it’s a pretty lame excuse…

For one, the Dow got creamed when the Asian Tiger economies imploded in late 1997. Between July and September 1997, the Dow fell as much as 16%. That’s a solid correction, enough to temper any irrational exuberance. And if that didn’t do it, the Russian default and subsequent $ 4.6 billion failure of the Long-Term Capital Management (LTCM) hedge fund in 1998 should have helped. The Dow fell 19.5% in just two months, to around 7,500. 

I was just starting to learn about economics and the stock market at that time. And I can tell you, it was a bit scary. I sure wouldn’t describe the action as irrationally exuberant. 

A Rational Market? 

Here’s the thing I’ve learned about the stock market: it’s pretty much always irrational. I know, you were probably hoping for something better than that. But how else can you explain the way companies will add or lose billion of dollars in valuation every single day the stock market is open?

Rationally, we know that Apple isn’t really worth $ 17 billion less today than it was on Friday. And we can easily take it a step further and say that Apple’s $ 584 billion market capitalization isn’t really a rational number, either. And yet we have no problem seeing Apple’s stock trade $ 0.35 lower and think, “Yeah, that makes sense.”

Or how about the fact that Bank of America (NYSE: BAC) is worth $ 50 billion more just because Trump won the election? Does that make sense? 

The fact is, the stock market is a human construct, and humans are a little nutso sometimes. Personally, I think the craziest thing you can do as an investor is try to pretend that you’re not crazy. The minute you think you have it all figured out, the market will make a fool of you, guaranteed. Just like it did with Greenspan. 

My biggest knock on Greenspan is that he always believed his own BS. He always thought he knew. And he still does. That’s why he made some of the biggest mistakes a Fed Chief has ever made. And yes, I firmly believe we can lay the blame for the 2008–9 financial crisis squarely on Greenspan.

After all, it was Greenspan who said that derivatives actually lowered overall economic risk of higher housing prices because of the way derivatives spread risk around the globe. He thought things like credit-default swaps meant no one entity would be left holding the bag if it all went south. He had it completely, absolutely backwards. Derivatives made sure that everyone was a counterparty, so everyone was left holding the bag. 

And perhaps worse than that, Fed governors were talking about a housing bubble in 2004, about a year before real estate prices peaked. Transcripts from 2004 meetings show they said things like:

“…buyers freely admitting that they have no intention of occupying the units… but rather are counting on ‘flipping’ the properties—selling them quickly at higher prices.”

“A second concern is that policy accommodation — and the expectation that it will persist — is distorting asset prices.”

“The high price of housing worries many in the region who find that hiring the skilled workers they need in health care, for example, is made even more difficult by high housing costs.”

But the minutes from those meetings, which are released shortly after a meeting concludes, do not mention any of these concerns. All discussion of a housing bubble were stricken from the record and show up only in transcripts, which are released a decade later. In one case, a chart that was viewed by the Fed members was left out of the official record because, as the transcripts show, one member said, “I don’t want to leave the impression that we think there’s a huge housing bubble.” 

 

Personally, I find these revelations shocking. Greenspan’s Fed basically lied about what they were seeing. In the official minutes, they deliberately understate their concerns, concluding that “a slowdown might be likely later in the year.”

If that doesn’t tick you off, maybe this Greenspan quote from March 2004 transcripts will: 

We run the risk, by laying out the pros and cons of a particular argument, of inducing people to join in on the debate, and in this regard it is possible to lose control of a process that only we fully understand.

That quote right there tells you all you need to know about Greenspan…

Keep Your Head in the Game

It is absolutely critical that you be on the lookout for know-it-alls like Alan Greenspan. Anybody who says they have it all figured out is lying to you.

I’ve been watching, trading, and learning the markets for nearly 20 years. And every single day, I find more things that I don’t know. I get taken to school every day, and I love it. And I won’t ever tell you I have it all figured out…

But sometimes I do get a few things figured out. Like, I’ve been trading Bank of America a whole lot since the election. And the stock has donated generously to my bottom line.

I hope you took my advice over the last couple of years to buy shares of BofA. If you didn’t, you can probably wait and get them around $ 19 in the next few months.

Until next time,

brit''s sig

Briton Ryle

follow basic@BritonRyle on Twitter

An 18-year veteran of the newsletter business, Briton Ryle is the editor of The Wealth Advisory income stock newsletter, with a focus on top-quality dividend growth stocks and REITs. Briton also manages the Real Income Trader advisory service, where his readers take regular cash payouts using a low-risk covered call option strategy. He also contributes a weekly column to the Wealth Daily e-letter. To learn more about Briton, click here.

This article originally was published here: https://www.wealthdaily.com/articles/remember-greenspans-irrational-exuberance-speech/8446

Greenspan’s “Irrational Exuberance” Speech, 20 Years Later originally appeared in Wealth Daily. Fortune Favors the Bold


Wealth Daily

Coin Collecting Commentary: Trump and Numismatics – CoinWeek (blog)


CoinWeek (blog)
Coin Collecting Commentary: Trump and Numismatics
CoinWeek (blog)
In the long run this should mean more money in the pockets of those who spend the most on rare coins. The so-called “wealth effect” means that people who feel good about their finances will spend more freely. The immediate downside, however, is that

rare coin collecting investment – Google News

Gold Relief Rally Coming and in Gold Stocks

Last week we wrote that Gold was broken but noted the oversold condition in the precious metals sector as well as the relative strength in the gold stocks. At one moment last week, the gold stocks were trading above where they were in mid-November when Gold was trading some $ 60/oz higher. In other words, Gold plummeted $ 60/oz and made a new low yet the gold stocks did not. It took a bit longer than we expected but Gold and gold mining stocks may have started their rebound at the end of last week.

Gold formed a bit of a bullish hammer last week as it managed to close the week well off its low of $1162/oz. Note that Gold managed to rebound from support around $1155-$1160/oz, which is the strongest support between $1080 to $1180/oz. Gold was already oversold when it broke below $1200/oz. The likelihood of a rebound was increasing after Gold lost $1180/oz. Going forward, the rebound targets are $1210/oz, $1230/oz and $1250/oz. We think Gold will test its 40-month moving average at $1230/oz.

Weekly Gold Chart

As we noted, the gold stocks have held up very well in recent weeks considering Gold’s continued decline. Most of the recent daily candles signal accumulation and Friday’s gain could be the start of a sustained rebound. The strongest confluence of resistance is at GDX $23.50 and GDXJ $39. These are the conservative, realistic targets. There is also a chance miners could rally a bit farther towards very strong resistance near GDX $26 and GDXJ $42.50.

VanEck Vectors Gold Miners and Junior Gold Miners Daily Charts

The short and medium term outlook for the precious metals sector is clear. Traders and investors could use the coming strength to de-risk their portfolios and raise cash for a better buying opportunity at the end of winter. Generally speaking, we do not want to think about buying investment positions until we see sub $1080 Gold and an extreme oversold condition coupled with bearish sentiment. The gold stocks have held up very well in
The Market Oracle

Congress reaches for the moon

Is it blast-off time for the moon landing commemoratives?

A vote in the U.S. House of Representatives will be held this afternoon on legislation calling for coins commemorating the 50th anniversary of the Apollo 11 moon landing in 2019.

H.R. 2726 calls for cupped-shaped 2019 coins as the National Baseball Hall of Fame coins were in 2014.

A common reverse design will be of an astronaut’s helmet specifically based on a July 20, 1969, photograph of Buzz Aldrin.

Reflected on his visor were the American flag and the lunar lander.

To achieve this effect on the coins, the visor portion of the image would have a mirror-like surface while the rest of the helmet would be frosted.

Artistically, it sounds like a great idea.

It would work especially well on the largest coin authorized, a 5-ounce silver coin.

This piece specified to be a proof, has a face value of $ 1 and a mintage no higher than 100,000 pieces.

There are three other standard commemoratives also called for in proof and uncirculated.

Up to 50,000 $ 5 gold pieces can be struck, 400,000 silver dollars and 750,000 clad half dollars.

The 5-ounce coin has a diameter of three inches, which is double that of the silver dollar.

It should look dazzling.

For the obverse designs, the legislation calls for an artistic competition with a prize of not less than $ 5,000.

I expect artists will be able to be as clever about these moon-landing coins as they were for the baseball coins.

Surcharges will apply, as they do to all commemoratives, when they go on the market in 2019.

The surcharge amounts are $ 35 for the gold $ 5, $ 10 for the silver dollar and $ 5 for the clad half dollar.

For the huge silver 5-ounce coin, the surcharge would be $ 50.

Beneficiaries of funds would see half go to the Smithsonian Institution’s National Air and Space Museum’s “Destination Moon” exhibit.

A quarter share each would go to the Astronaut Memorial Foundation and the Astronaut Scholarship Foundation.

Can Congress do this?

It’s on the schedule.

Let’s see what happens.

 

Buzz – Numismatic News

Shale-War is over so $60 Brent Crude Oil by Christmas is highly probable: Next $85?

In April this model (http://oilpro.com/…) predicted the Saudi’s would blink in Doha and Brent would see $ 60 by Christmas. Well they did blink in Doha; they stopped talking about pumping an extra two-million barrels per day into the pot; incidentally that was just bravado; unless the plan was to stop using oil to make electricity…which would have been unpopular during the summer.
The Market Oracle

Is Japan About to Implode the $10T $USD Carry Trade?

It is said that history has a sense of irony. The latest US election is not an exception. Consider the following… Donald Trump campaigned aggressively on trade… particularly his opposing of the fact that the US gets taken advantage of by foreign nations via bad trade deals. Trump wins the Presidency on November 8, 2016. US trade gets royally screwed in the currency markets.
The Market Oracle

India Is Poised To Make A Quantum Leap Under Narendra Modi: Perspective Of A Political Economist

Development of the National Economy and Welfare of the Common People or more specifically the Forgotten People – the Rural People, the Blue Color and Toiling People are the basic concern of a Political Economist. On the other hand, Corporate or Marxian or Keynesian Economists uphold a particular ideology and manipulate the economy for the sake of the Ideology or Elite, including the Left or Corporate Sector at the expense of the common people. I do belong to the category of Political Economist rather than the Corporate or Marxian or Keynesian Economists
The Market Oracle

Share Structure, People and Projects : A primer for the Lay Investor

24hGold.com RSS Feed – 24hGold Editorials and commentaries

Gold and Silver Bullion Buying Opportunity for 2017?

Gold and Silver prices have recently taken quite a battering with the price having fallen form a 2016 high of $ 1378 to its last close of $ 1178 which is not far from the low for 2016 of $ 1071 set early on in the year which is perking my interest on whether it could now be time to accumulate some more of the shiny precious metals that mankind has been obsessed with ever since we sought out the gold / silver shimmering signs of water on the horizon of the sun baked parched east african savanna as has been imprinted into our very DNA.

Firstly, gold and silver have never played a major part of my investment portfolio, usually amounting to less than 4% so not something that I look at often, usually only when I observe that the price ‘could’ be cheap for accumulation or expensive for distribution purposes. Also, I don’t trade gold and silver often either, i.e. the last time I traded gold was over a year ago, so I am definitely no gold bug who tend perceive the hand of hidden forces at work in every minor price movement. Rather my objective is pretty simple which is to buy gold and silver when CHEAP and sell when EXPENSIVE, whilst in between I don’t tend to pay much attention to either.

So the purpose of this analysis is to answer the question should I buy gold and silver bullion today, soon or leave it for even lower prices.

In terms of perking my interest in investing in gold bullion today, I would be seeking a potential reward of at least 20% over the next 12 months for running the risk of buying at the current price i.e. to hit at least $1400 within the next 12 months which would be a multi-year high. Whilst for the more volatile gold stocks and silver price, I would want a potential reward of at least 30%! So unless I see those sort of risk / rewards I’m unlikely to commit to investing, especially as the gold price and presumably silver and gold stocks are currently in a downtrend, so implies lower prices are more likely then higher prices, which is fine for investment purposes where the name of the game is not trying to catch the bottom but rather that the potential reward at the TARGET EXIT PRICE is the worth holding for a while.

So prime consideration is can I see gold and silver bullion achieve a minimum profit potential targets during 2017 or not. Whilst I will take a look at gold stocks (HUI and GDX) in a separate analysis.

Gold Price 2 Year Chart

Clearly the gold price is in a significant downtrend triggered off the break below $1200, the next stop is probably around $1075 and then 1045. Which implies downside is limited, i.e. at worse another $100 lower, or about 9% lower. Whilst resistant is clearly at just below $1400 at $1375. So current risk vs reward is about 17% reward against 9% risk. That’s not particularly appealing.

What if Gold price fell to $1,100, that would be a potential reward of 25% vs risk of just 3%. NOW THAT WOULD BE APPEALING! So it’s probably worth keeping a close eye on gold, perhaps even a limit order to buy bullion at or below $1125 for a potential 22% return against a 5% risk.

Gold Price 5 Year Chart

Does the five year chart back up what the 2 year chart is saying ?

Well it backs up everything the 2 year chart is saying and further confirms that $1400 is a very strong resistance level which if over come could propel the gold price MUCH higher, and the chart implies that a BREAK HIGHER would be more probable than a BREAK LOWER. So whilst we can’t let ourselves get carried away by anticipating a breakout above $1400 and fantasise about hitting $1800 which would represent a 63% GAIN on $1100. Nevertheless the risk reward is better on the longer term chart then the 2 year chart, which acts to confirm that $1100 to $1125 are good levels to accumulate gold at given the risk / reward profiles.

What about Silver?

Higher volatility demands a higher potential profit of at least 30% else its not worth the risk of being lumbered with holding the shiny grey metal for possible several years as one waits it out for for a spike to offload into, where 1 year targets can easily turn into 5 year waits!

The silver price peaked at $21.23 and the last price of $16.8 represents a 26% potential, therefore to achieve a minimum target the silver price would need to break the last high and rally to at least 21.84 during 2017. Whilst possible at this point in time it does not appear likely. However, silver is IN a DOWNTREND that is targeting support in the zone $14.50 to $16.00 which is a pretty wide range, 30% from $16 extends to $20.80. So just like gold, the risk reward for silver is not quite there yet at current prices, i.e. $14.50 represents a 14% risk for a potential reward of 26%. Whereas buying at $16 would represent a 32% potential against a risk of 10%. again not that appealing for a 1 year investment. So on that basis I would be seeking to buy silver at BELOW $16 for a 2017 potential return of at least 30%, probably in the region of $15-$15.50.

Silver 5 year Chart?

In terms of long-term potential, $35 screams out from the chart whilst support lies along $14, so on the last close this would represent a risk of 17% against a potential return of 110%. Whilst from a drop to $16 would be a risk of 12.5% against potential of 120%.

Like I stated at the start, I am no gold bug, not particularly interested in gold and silver other than if it presents a good risk reward as it does every now and then. However today, at current prices, neither perk my interest to commit at current prices. Howsoever both are not far off from where I would consider accumulating. Whilst it is SILVER that I would eye as the better risk / reward profile for a spike to well above $21.80, probably well above $30, maybe as high as $35, though such a move is unlikely to materialize for several years!

So whilst I started this analysis with a view towards seeking to invest in gold and silver bullion for a 2017 return of 20%/30%, this analysis concludes in accumulating for maybe 3 or more years forward return in Silver of about 120% representing the best long-term investing risk / reward profile. So whilst 20% gold is achievable during 2017, instead I am being pulled in the direction of silver for a far longer term investment, a case of buy and forget until the silver price spikes to above $30. Which ironically is how I have invested and profited form silver in the past.

The bottom line is that there is no need to rush into either gold and silver, set your buy targets and accumulate. I plan to start nibbling on silver at around $16 for the long-run. Gold? it’s the less volatile of the two, and more likely to resolve in a profit of about 20% during 2017 off of a sub $1100 accumulation price.

 

 

 
The Market Oracle

5 Things Every Investor Should Know About Bitcoin

This article originally was published here: https://www.wealthdaily.com/articles/5-things-every-investor-should-know-about-bitcoin/8442

Referred to by some as “digital gold,” Bitcoin is one of the most controversial investment opportunities that exists today.

Over the past five years, the value of Bitcoin has skyrocketed nearly 25,000%, meaning if you had the foresight to buy and hold early, you could have earned as much as 250 times your initial investment.

That’s enough to take $ 10,000 and turn you into a multimillionaire…

But many investors are still keeping far away from Bitcoin, despite its historic rise. To the average person, it’s all just too unfamiliar, too intimidating, and too risky.

Yet after years of naysayers predicting that the sky will come crashing down, Bitcoin just keeps on chugging along.

Hard to believe, but the cryptocurrency has been around for almost a decade now, and at this point, it doesn’t seem to be going away.

In fact, Bitcoin’s bid as a serious investment has only matured in recent years as the digital currency has come of age. Once rightfully considered a virtual lottery ticket, Bitcoin has gradually cemented itself as a legitimate asset to consider for your portfolio.

This week, the cryptocurrency marked its longest stretch trading over $ 500 since its inception nearly a decade ago. For six months, Bitcoin has climbed well past that mark, now trading near $ 750.

If that makes you feel like you’ve been missing out, but you aren’t convinced just yet that Bitcoin is right for you, here are five things you should probably know about this unique investment…

#1: More and More People are Using Bitcoin Every Day

In its early days, Bitcoin was little more than a speculative bet for day traders hoping to turn a quick profit…

That’s because as a currency, Bitcoin had very little utility aside from on the black market. Like trying to pay your rent in yen, buying goods with Bitcoin was just something you didn’t do.

But after years of gradual adoption, more and more people are using Bitcoin for real-world transactions every day.

In January 2010, Bitcoin was averaging less than 200 transactions a day. Today, the digital currency is used in as many as 300,000 transactions per day.

Bitcoin Transations per day(Source: blockchain.info)

In other words, Bitcoin is no longer just a form of money in theory; it has become a form of money in practice. People are buying goods with it, just as they do with any other form of currency.

For long-term investors, this is great news, because after all, that’s where Bitcoin’s value exists. So long as adoption of Bitcoin as a currency continues to increase, its value should move in tandem.

#2: More Vendors are Accepting Bitcoin

There are two main reasons Bitcoin transactions have and will likely continue to increase. The first is a growing acceptance from legitimate vendors.

Since 2013 there have already been a number of major retailers that have taken the initiative to treat Bitcoin as a legitimate method of payment.

Notable companies include Expedia, which now accepts Bitcoin for all hotel bookings, Overstock.com, which began accepting Bitcoin for its products in January 2014, and Microsoft, which recently added Bitcoin as a payment option for its digital content.

Other major vendors include Dell, Subway, Newegg, TigerDirect, Tesla, PayPal, and REEDs Jewelers, to name just a few.

Even the Sacramento Kings NBA franchise now accepts Bitcoin online and at the Golden 1 Center arena. That means NBA fans can get tickets, jerseys, hot dogs, and, yes, even beer with their bitcoins.

#3: Volatility is Trending Down

On top of an increasing number of vendors accepting Bitcoin, price volatility is trending downward — and for long-term investors, that’s a good thing.

In 2011, the 30-day volatility of Bitcoin was nearly 16%, but today it’s closer to 2.0% on a dollar basis.

Bitcoin Volatility Trend(Source: btcvol.info)

This simply means the day-to-day fluctuations in the price of Bitcoin are decreasing and the value of Bitcoin is becoming more stable.

And for a form of currency, this is incredibly important, because it means consumers’ money is more reliable.

If a loaf of bread cost $ 4 yesterday, $ 2 today, and $ 7 tomorrow, chances are you wouldn’t have much faith in the dollar. The same rule applies to Bitcoin: the less volatile it is, the better it will fair in the market.

Of course, Bitcoin will continue to have bouts of volatility, and it is still years away from being completely stable, but as of today, its price stability is on par with the Mexican peso and South African rand.

For a 10-year-old currency, that’s not too shabby.

#4: Bitcoin Has Been a Hedge Against Economic Uncertainty

For decades, if not centuries, gold has been the go-to safe haven in times of economic uncertainty.

When stocks go down, people buy gold. When economies collapse, people buy gold.

But investors have increasingly turned elsewhere in recent years in the face of economic turmoil.

When Cyprus’s economy tanked in 2013, Bitcoin soared.

When China’s yuan collapsed in 2015, it happened again.

And when Brexit sent tremors through the market in 2016, Bitcoin investors had a field day, as the currency’s value exploded as much as $ 100 in a day. In the month leading up to Brexit, fears sent prices from $ 400 to over $ 750.

Bitcoin tends to work as a hedge because it’s disconnected from the traditional financial system. It offers an easy way for people to exit economies that revolve around government money and bad monetary policy.

If you’re one of the many people worried that the U.S. dollar is on its last legs as the global reserve currency, Bitcoin isn’t a bad bet.

#5: Buying and Selling is Easier Than You Think

Contrary to popular belief, you don’t have to be a computer scientist to invest in Bitcoin.

Buying and selling the cryptocurrency is actually pretty simple: all you really need is a credit card, bank account, or PayPal to get started.

There are a number of easy-to-use platforms for trading and storing bitcoins. Some of the most reputable ones include Coinbase, Kraken, BitQuick, and Blockchain Wallet.

Buying and selling Bitcoin today is about as easy as trading stocks. Once you’re comfortable with whatever platform you choose, you can get started right away.

But remember, Bitcoin still carries plenty of risk and should only account for a small portion of your portfolio. The best investors are well diversified, and Bitcoin is just one place to potentially grow your wealth.

Until next time,

  JS Sig

Jason Stutman

follow basic @JasonStutman on Twitter

In addition to his work at Wealth Daily, Jason Stutman serves as the Managing Editor for multiple investment advisory newsletters including Technology and Opportunity and The Cutting Edge. Jason has also served as an editor and contributor for popular investment services Energy and Capital and Tech Investing Daily. Jason holds a B.A. in Behavioral Science alongside an M.Ed.,with postgrad coursework in mathematics, technology, and science.

This article originally was published here: https://www.wealthdaily.com/articles/5-things-every-investor-should-know-about-bitcoin/8442

5 Things Every Investor Should Know About Bitcoin originally appeared in Wealth Daily. Fortune Favors the Bold


Wealth Daily

Coin Collecting Commentary: Trump and Numismatics – CoinWeek (blog)


CoinWeek (blog)
Coin Collecting Commentary: Trump and Numismatics
CoinWeek (blog)
In the long run this should mean more money in the pockets of those who spend the most on rare coins. The so-called “wealth effect” means that people who feel good about their finances will spend more freely. The immediate downside, however, is that

rare coin collecting investment – Google News

The World Prays for the End of America’s Global Hegemony

America’s global hegemony was initially crafted in 1913, through the introduction of the income tax, the creation of the Federal Reserve, and the consequent rise of the military industrial complex.  Since then, America now operates 800 military bases in more than 70 countries, which has forcefully been subsidized through the taxation of the American population.  While the American government can not be held accountable for its countless and atrocious war crimes, failing to pay taxes to support the military industrial complex will land anyone else straight in jail.  While the Federal Reserve and income tax has certainly been a catalyst for the slow, but steady deterioration of America’s middle class, the greater destruction has certainly manifested outside the shores of America.
The Market Oracle

We Are Putting Off the Inevitable

Only two presidents in history did not see a recession, and they were inaugurated after single-term presidents. In every single instance at the end of a two-term presidency, there’s been a recession. This means there is a 100% chance of recession for the new president. My friend Raoul Pal, in his latest Global Macro Investor, talks about the potential for a recession in 2017: The following chart shows every recession since 1910 (in yellow) with the new president after a two-term election marked in white and the new presidents after a single-term presidency in red. Wilson and Eisenhower appear as both. Only Coolidge saw more than a year (sixteen months) from his second-term election and the onset of the subsequent recession at the end of WWI…
The Market Oracle

Critical 61.8% Retracements

24hGold.com RSS Feed – 24hGold Editorials and commentaries

Can Biotech’s Trump Bump Last?

In the weeks since Donald Trump’s presidential election victory, the stock markets have ridden a wave into positive—and in the case of the Dow, record-breaking—territory. The so-called Trump Bump also sent biotech indices, flaccid for much of the year, up as much as 15%. With the election now nearly a month old, and hot-button issues such as drug pricing still in the press, industry watchers have begun to weigh in on what might happen in the biotech and pharma markets when Trump takes office.
The Market Oracle

Debunking GFMS’ Gold Demand Statistics

24hGold.com RSS Feed – 24hGold Editorials and commentaries

Gold And Silver – Do Not Expect Much Difference With Trump Compared To Obama

Obama was the “Yes, we can!” hope and change candidate that become the deep state elite’s presidential lackey.  It was Obama’s choice to sell his political and personal soul in serving the globalists. History has been somewhat hidden from the public but still in the open for those who take the time to look. The US went bankrupt in 1933 when Roosevelt declared the Bank Holiday.  Its purpose was to eliminate any and all banking independence and give all control over to the Federal Reserve cartel.  Every bankrupt entity has a bankruptcy judge to oversee the bankruptcy.  That job went to the Secretary of the Treasury as agent for the globalists that took control over the United States.
The Market Oracle

Gold Inches Lower on Week, Silver Rallies; US Mint Gold Sales Strengthen

Gold futures closed higher Friday for the first time in four sessions, climbing from an almost 10-month low and trimming their weekly loss to just 60 cents. Gold for February delivery rose $ 8.40, or…

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