Goldman Sachs Says That There Is A 99 Percent Chance That Stock Prices Will Not Keep Going Up Like This

Analysts at Goldman Sachs are saying that it is next to impossible for stock prices to keep going up like they have been recently.  Ever since Donald Trump’s surprise election victory in November, stocks have been on a tremendous run, but this surge has not been matched by a turnaround in the real economy.  We have essentially had a “no growth” economy for most of the past decade, and ominous signs pointing to big trouble ahead are all around us.  The only reason why stocks have been able to perform so well is due to unprecedented intervention by global central […]

Read More

Pot is the New Alcohol: A Money-Making Business

Pot is what alcohol used to be. It’s an industry ready to take off, but one that’s still finding its way, and one whose progress is not exactly encouraged by the federal government. It’s a little bit like Prohibition 2.0. The alcohol industry – now eight decades after states ratified the 21st amendment and ended prohibition – generated $ 475 billion in economic activity and $ 110 billion in wages in 2014. Across the United States, more than 4.5 million people work in alcohol-related jobs. Alcohol production, distribution, sales, and service is one of the biggest industries in the country. […]

Read More

Bitcoin and bimetallism

I wrote a piece on Forbes recently in which I described a bimetallic system of coinage and suggested how such a system might work – or rather, fail to work – for Bitcoin. These are the relevant paragraphs: In a bimetallic system, there are effectively two currencies which are linked by a fixed exchange rate set by fiat. At the end of the 19th century – the time of Bryan’s speech – Britain’s copper penny was worth 1/144 of one pound. Other denominations of coin were created by multiplying up the penny: so the silver sixpence was unsurprisingly worth six […]

Read More

The U.S. Is Inches From A War With North Korea In Which Millions Could Die

We are just inches away from the outbreak of World War III, and yet most Americans seem completely oblivious to what is happening.  On Friday, North Korea conducted a missile test which proved that it now has the capability of hitting major U.S. cities in the western half of the country.  Every diplomatic effort to end North Korea’s nuclear program has completely failed, the Chinese have shown that they do not intend to do much of anything to intervene in this crisis, and the United Nations is a dead end.  Given enough time, the North Koreans will build hundreds of […]

Read More

Australia Exports Record Amount Of Gold To China

Are the Chinese getting close to announcing a new gold-backed currency? Well, if the record amount of Australian gold exports into China is an indicator, it may be close at hand. While the Chinese have been importing a lot of gold from Australia, it reached a new record high in 2017. According to the recently released data by the Australian Government June 2017 Resources and Energy Quarterly, Australia exported more gold to Hong Kong and China during the first quarter of 2017 than any other quarter in history. Australian gold exports to Hong Kong and China were 54% higher Q1 […]

Read More

What Should Be Done To RINOs Like John McCain That Betray Us Over And Over Again?

By destroying the last chance that the Republicans in the Senate had to repeal Obamacare, John McCain has ensured that he will go down in history as a backstabbing traitor that cared nothing for true conservative values.  For decades, RINOs like McCain have promised to uphold conservative values while campaigning, but once they have gotten into office they have betrayed us over and over again.  How much more are we going to take before we say enough is enough?  I hope that you will join me in my effort to remove every RINO from Congress.  What John McCain has just […]

Read More

Estimated Chinese Gold Reserves Surpass 20,000t

BullionStar My best estimate as of June 2017 with respect to total above ground gold reserves within the Chinese domestic market is 20,193 tonnes. The majority of these reserves are held by the citizenry, an estimated 16,193 tonnes; the residual 4,000 tonnes, which is a speculative yet conservative estimate, is held by the Chinese central bank the People’s Bank of China. I’m aware I’ve been absent from writing about the Chinese gold market for a long time, so for some of you it can be burdensome to pick up where we left a few months ago. It is not feasible for […]

Read More

Trump Considering Reappointment of Janet Yellen

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason. Coming up we’ll hear from Frank Holmes, CEO of U.S. Global Investors. Frank reveals some very bullish fundamentals that he sees developing for the precious metals in the coming months and also shares some information on an exciting new gold fund. Don’t miss another great interview with The Mining Journal’s gold fund manager of the year for 2016, Frank Holmes, coming up after this week’s market update. Well, as certain United States Senators were finding new ways to kneecap Obamacare repeal efforts this week, the Federal Reserve stood pat on […]

Read More

How to Pick Winners in the New Space Race

In the pre-dawn hours of Saturday, October 12, 1957, a cold north wind blew through the streets of Baltimore. The temperature hovered around 40 degrees, but many of the people standing outside weren’t concerned about the chilly air. They trained their binoculars on the sky. A small, glowing object streaked through the darkness and changed their world forever. Footage shot from down below by a local TV cameraman ended up on the national news. The Russians, just a few days earlier, launched Sputnik 1, Earth’s first artificial satellite. It circled our planet every 98 minutes, traversing the United States seven […]

Read More

Liquidity, The NFCI, And Leverage

If you want to trade macro, you need to understand liquidity. PTJ, Druck, Soros, Dalio — all these legends have expressed this fact multiple times. Liquidity is what moves markets. This is even more true now than in the macro heydays of the 70s and 80s. With the rise of “blind investing” in the form of passively buying and holding ETFs, the majority of investors don’t care about valuation or merit. They just auto-shuttle their excess funds to the nearest robo advisor without a second thought. This amount of “excess funds” is largely dependent on liquidity conditions. When liquidity is […]

Read More