It would appear that between the fears of a government shutdown and the battle over the 'full faith and credit' of the US, traders have decided that the stroke-of-midnight agreement is potentially less viable this time as both parties feel the other has more to lose. The USD is being sold against all majors and gold, silver, and WTI crude is well bid as investors seek the safety of har... read more
This is about all you need to know about how precious metals markets are reacting to word that the Federal Reserve will not reduce its $85 billion per month money printing effort, likely waiting until December or perhaps even sometime in 2014, 2015, or later to take that very first step toward reining in their stimulus effort.
read more
The Fed's failure today to announce some sort of tapering of its QE program, despite the consensus of an overwhelming percentage of economists who expected action, once again reveals the degree to which mainstream analysts have overestimated the strength of our current economy. The Fed understands, as the market seems not to, that the current "recovery" could not survive without continuation of... read more
Gold rose in London for a second day after the Federal Reserve’s stimulus boosted demand for metals. Platinum advanced.
The Federal Open Market Committee said it will “await more evidence” for sustained economic recovery before reducing its $85 billion... read more
Gold jumped the most in eight weeks after the Federal Reserve unexpectedly refrained from reducing the pace of monthly bond purchases, increasing demand for the metal as a store of value.
“The Committee decided to await more evidence that progress will be sustained before adjusting the pace of its purchases,” the read more
Beginning with how Kissinger and Nixon enabled the USD as the world's de facto reserve currency through oil, Canadian Billionaire Ned Goodman explains in the brief but far-reaching clip how it is both inevitable (and rapidly approaching) that the rest of the world will turn its back on the dollar. With China and Russia (among many others that we have detailed in the past) agreeing on non-USD sw... read more
The Federal Reserve looks set to ‘taper’ by some $10 to $15 billion. Monthly purchases of U.S. Treasuries may be scaled back by $10 billion to $35 billion, while mortgage bond buying may remain unchanged at $40 billion.
read more
U.S. Mint Reports Record Sales of Silver American Eagles
The U.S. Mint’s sales of silver Eagles reached a whopping 4,406,500 ounces in July of this year, showing a 93.4 percent increase over sales seen in July of 2012 and making a new monthly record.
Furthermore, for the first seven months of 2013, sales of American silver Eagles grew at the fastest pace ever, hitting an equally... read more
