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Trump’s Task List for Reining in Our Reckless Central Bank

President-elect Donald Trump will soon have the opportunity to put his stamp on the Federal Reserve. And that is making the elite body of central bankers nervous. On the campaign trail, Trump harangued Fed chair Janet Yellen for pumping up financial markets with cheap money – accusing the Obama appointee of being politically motivated. Trump also called for the Federal Reserve to be audited. The Fed operates in secret, creates inflation, and bails out Wall Street. Fed officials worry the Trump presidency represents a unique threat to the Fed’s closely guarded “independence.” Sound money proponents, meanwhile, are hopeful that some […]

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India Voids Bank Notes; Is the U.S. Bond Bubble Popping?

Donald Trump promises to “Make America Great Again.” Whether he can do it remains to be seen, but the Federal Reserve Note “dollar” is certainly responding to his victory. Traders began swapping bonds for dollars the morning after the U.S. elections and they haven’t stopped yet. The DXY index topped 101 on Friday – its highest level since early 2003. Beleaguered precious metals bulls are feeling the side effects. The surge in the dollar coincides with the retracement of a portion of the year’s price gains in gold and silver – although gold is still up close to 13% and […]

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Synthetic Gold Leasing: More Details Regarding The “Precious Metals” On Chinese Commercial Bank Balance Sheets.

BullionStar More proof the “precious metals assets” on Chinese commercial bank balance sheets have little to do with the “surplus” gold in China’s domestic market. One of the topics about the Chinese gold market that has not been fully illuminated is the “gold” on the 16 Chinese commercial banks’ balance sheets. At the end of 2015 the aggregated “precious metals assets” on the bank balance sheets accounted for 598 billion yuan (RMB), which translates into approximately 2,682 tonnes of gold – if all the precious metals were gold related, which is very likely. In my previous post on this subject we learned from examining the banks’ […]

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Central Bank Austria Claims To Have Audited Gold at BOE. Refuses To Release Audit Reports & Gold Bar List

BullionStar After years of gradually securing its official gold reserves (unwinding leases) the central bank of Austria claims to have completed the audits of its 224 tonnes of gold stored at the BOE. However, it refuses to publish the audit reports and the gold bar list. What could possibly be so sensitive to hide from public eyes? After the Germans had activated a program to repatriate 150 tonnes of their official gold reserves in 2012, which was revised in 2013 to have 50 % of their gold on German soil by 2020, and the Dutch repatriated 123 tonnes in 2014, the Austrians have likely been inspired by […]

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Gold & Silver Steady amid Bank Problems; Steve Forbes Speaks on Gold and Politics

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason. Responding to popular demand, we’ll hear a replay my conversation with Steve Forbes. Earlier this year, Mr. Forbes gave a fascinating interview about the presidential election and why he believes the time is now for America to restore gold in our monetary system. My interview with Steve Forbes, billionaire investor and CEO of Forbes, Inc., coming up after this week’s market update. Well, the big market moving news this week didn’t come from the Federal Reserve for a change. It came from another powerful market rigging cartel – OPEC. The […]

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Deutsche Bank Collapse: The Most Important Bank In Europe Is Facing A Major ‘Liquidity Event’

The largest and most important bank in the largest and most important economy in Europe is imploding right in front of our eyes.  Deutsche Bank is the 11th biggest bank on the entire planet, and due to the enormous exposure to derivatives that it has, it has been called “the world’s most dangerous bank“.  Over the past year, I have repeatedly warned that Deutsche Bank is heading for disaster and is a likely candidate to be “the next Lehman Brothers”.  If you would like to review, you can do so here, here and here.  On September 16th, the Wall Street […]

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How Deutsche Bank Could Take Down Germany

The first bad news broke following the third quarter of 2015. Deutsche Bank reported a loss of $ 7 billion. The news just keeps coming with low or negative earnings thanks to bad loans in Germany and abroad. In my February 19, 2016 edition of The Leading Edge, I issued a clear and stern warning about Deutsche Bank and about a second banking crisis looming. I explicitly said… The Telegraph ran an article yesterday asking if Deutsche was the next Lehman. Is there an echo in the room? Without a doubt, things are coming to a head at the bank. […]

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The Bank For International Settlements Warns That A Major Debt Meltdown In China Is Imminent

The pinnacle of the global financial system is warning that conditions are right for a “full-blown banking crisis” in China.  Since the last financial crisis, there has been a credit boom in China that is really unprecedented in world history.  At this point the total value of all outstanding loans in China has hit a grand total of more than 28 trillion dollars.  That is essentially equivalent to the commercial banking systems of the United States and Japan combined.  While it is true that government debt is under control in China, corporate debt is now 171 percent of GDP, and […]

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War on Cash Intensifies; David Morgan Talks About Owning Real Money Outside the Bank

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason. Coming up we’ll hear from David Morgan of The Morgan Report and co-author of the book The Silver Manifesto. David tells us how long he thinks the correction in the metals will last, why he believes this November’s election is less important than you might think and also talks about a key event coming up that could put a lot of pressure on the U.S. dollar. Don’t miss a wonderful interview with our good friend David Morgan, coming up after this week’s market update. After suffering a setback in August, […]

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What Are These Huge Tonnages In “Precious Metals” On Chinese Commercial Bank Balance Sheets?

BullionStar There has been much conjecture since 2014 about the increasing numbers in the “precious metals” category on the balance sheets of listed Chinese commercial banks. By the end of 2015 China’s largest banks were holding RMB 598 billion in precious metals. Some analysts think that the precious metals on Chinese commercial bank balance sheets are gold reserves purchased on behalf of the Chinese central bank, while others surmise that Chinese banks buy gold at the Shanghai Gold Exchange (SGE) and then lend it out so the precious metals on the balance sheets solely represent leased gold. In latter analysis […]

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