by Wolf Richter But the oil-price crash was supposed to goose consumer spending. The price of oil continues to crash relentlessly. WTI trades at $49.80 as I’m writing this on Monday after hours, down 5.5% for the day, and down 54% since June 2014. The oil-price plunge is eating into the American oil boom, munching on income statements and balance sheets of drillers that have gorged on junk[...]
Tag: market manipulation
2015: A World Ruled by Hubris, Willful Blindness and Desperation
Issuing lies and pursuing willful blindness is not leadership: it’s failure on a grand scale. Rather than issue predictions for 2015, this week I’ll cover themes that I believe will be consequential in the year ahead. The first theme is the dominant psychological dynamic of global leadership, which can be distilled down to a toxic brew of Hubris, Willful Blindness and Desperation. Examples [...]
Gold Held In NY Fed Vault Drops To Lowest In 21st Century After Biggest Monthly Withdrawal Since 2001
Exactly one month ago we observed that, as expected in the aftermath of the Netherlands' shocking and still not fully-explained gold repatriation from the NY Fed, the amount of foreign earmarked gold on deposit with the Fed had just experienced a 42 ton withdrawal: the single largest outflow of gold held at the NY Fed in over a decade, going back all the way to 2001. This had brought the total[...]
U.S. Gold Exports Jump 70% In September – US Determined to Impoverish Itself with Paper Money
According to the USGS most recent data, total U.S. gold exports increased significantly in September. Not only did U.S. gold exports surge in September, they were 70% higher than the previous month. From the SRSRocco Report: This was probably due to increased demand as the price of gold declined $80 during the month. U.S. exports started off very strong in January, reaching 80 mt (metric[...]
Meet Your Newest Legislator: Citigroup
By Pam Martens: December 16, 2014 Citigroup is the Wall Street mega bank that forced the repeal of the Glass-Steagall Act in 1999; blew itself up as a result of the repeal in 2008; was propped back up with the largest taxpayer bailout in the history of the world even though it was insolvent and didn’t qualify for a bailout; has now written its own legislation to de-regulate itself; got the[...]
Yes, It’s Possible for a Gold-Backed Renminbi to Dethrone the Dollar
by Tim Price on December 15, 2014 [Sovereign Man Editor’s note: This letter was written by Tim Price, London-based wealth manager and editor of Price Value International.] “[W]e want to use our reserves more constructively by investing in development projects around the world rather than just reflexively buying US Treasuries. In any case, we usually lose money on Treasuries, so we need to[...]
Maguire – Banks Panicking As London Gold Hub Implodes
From King World News Today London metals trader Andrew Maguire told King World News that bullion banks are now panicking because the London gold hub is finally imploding. Maguire also warned the bullion banks are not the only one who are panicking. Below is what Maguire had to say in Part I of a powerful series of interviews that will be released. Maguire: “The paper markets are nothing more[...]
Newly-Revealed, SECRET Stockpiles Are Evaporating! – Psst…PMC Ounce Owners Positioned to be Big Winners
Another Conspiracy Theory Becomes Conspiracy Fact. Well, well! Once again, all the “tin-foil” hat-wearing folks are looking like the smartest guys in the room, as an intriguing secret this week is revealed about a certain precious metal! This is the biggest news of the week, yet nearly no one has mentioned it! Now that we know this secret, it behooves us to use this knowledge to ask some very [...]
All Systems Go…Are We About To See A Historic Melt-Up In Gold & Silver?
Today one of the wealthiest people in the financial world stunned King World News when he said we may be nearing a point where we see a historic melt-up in gold, silver, and the mining shares. Rick Rule, who is business partners with billionaire Eric Sprott, also discussed exactly how this historic advance will unfold and why the up-moves will be so incredibly violent. Eric King: “Rick, are we [...]
Even The BIS Is Shocked At How Broken Markets Have Become
Not a quarter passes without the Bank of International Settlements (BIS) aka central banks' central bank (also the locus of some of the most aggressive manipulation of gold and FX in human history) reiterating a dire warning about the fire and brimstone that is about to be unleashed upon the global economy. It started in June of 2013, when Jaime Caruana, certainly the most prominent doom and[...]