News and Views

Dear CIGAs, Very soon we will be entering the month of June. Normally June is the time of year in the northern hemisphere when people think of picnics, parks, water sports and the outdoors. It is a time where plans are made for vacation, rest and relaxation. This year may be a little bit different.... »The post A "Convergent" June? appeared first on Jim Sinclair's Mineset. moreContinue Reading
Austria is repatriating gold from the vaults at the Bank Of England (BOE) at this very moment, according to Kronen Zeitung. The OeNB (central bank of the Republic of Austria) stored 82 % of its 280 tonnes at the depository in England. It will start by bringing back 110 tonnes to Austria, to eventually have 50 % on own soil. This was to be expected as Austria has steadily working to move more of its official gold reserves from unallocated to allocated accounts in recent years, and additionally reduced its gold leased out by a staggering 60 %. The chart above moreContinue Reading
May 22, 2015

A New Contest

Thanks to the good folks at Provident Metals, I'm happy to announce a new price contest. It's only open to Vault subscribers...BUT...if you subscribe today, you'll find that the prizes for winning more than compensate you for a few months of Vault membership! read more moreContinue Reading
We would like to advise you that on Friday 22 May BitGold Inc., a publicly traded Canadian company, entered into an acquisition agreement to purchase the operations and intellectual property of GoldMoney Network Limited and its subsidiaries (t/a GoldMoney). GoldMoney will continue to operate as usual and offer an easy method for its customers to buy precious metals online and safely store them. Over time synergies between the two companies will be leveraged to improve the customer offering with new products and more competitive services and pricing. Please find the press release for your information, and feel free to contact us if moreContinue Reading
May 22, 2015

WoodyCare Disaster

After last week's PPI, we thought that the CPI would come in flat, too. WRONG! Of course "producer" prices are down. The US economy is dead. But "consumer" prices are rising. Why? The WoodyCare Act is causing healthcare prices to rise, not fall. Wow. A government program that is doing the opposite of what we were sold told it would do. There's a stunner! read more moreContinue Reading
GOLD PRICES lost $12 per ounce on the day in London trade on Friday midday following the release of the April CPI showing the biggest US inflation jump in two years, amid a busy week of economic indicator releases and speeches by central-bankers. US and European stock markets dropped and so did Brent crude oil contracts. The European currency was still losing ground against the USD with USD1.10450 per Euro, a low unseen since mid-March. An important indicator for the US inflation released on Friday, The US Bureau of Labour Statistics' latest core Consumer Price Index (CPI) (excluding food moreContinue Reading
A unique collector coin from the Royal Canadian Mint sports a polar bear in jade with two engraved cubs in an Arctic scene. Limited to 8,500 and struck in 99.99% pure silver to proof quality, the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] moreContinue Reading
It's hard to think of the many billions of dollars in fines that big banks have paid over the last few years or so as anything other than the cost of doing business. Here's Matt Taibbi with Nermeen Shaikh and Amy Goodman of DemocracyNow to explain why. Taibbi notes: What's humorous about this is that virtually all [...] moreContinue Reading
May 22, 2015

Friday Morning Links

MUST READS Bank of Japan Chief Cheers On Tokyo's Surging Stocks – WSJ Hong Kong Investors Want More Oversight After $35B Wipeout – Bloomberg China says U.S. actions in South China Sea ‘irresponsible, dangerous' – Reuters How China stealthily built a ‘kill chain' in the South China Sea – The Week Lower the temperature in South China Sea – Straits [...] moreContinue Reading
Why most forecasting models are comically simplistic moreContinue Reading
Welcome to another episode of understanding how mainstream consultancy firms (the World Gold Council, GFMS, CPM Group, Precious Metals Insights) understate Chinese gold demand. One of their main arguments is that hundreds if not thousands of tonnes are tied up in Chinese Commodity Financing Deals (CCFDs). As it was first stated by the World Gold Council (China's Gold Market Progress And Prospects, April, 2014): No statistics are available on the outstanding amount of gold tied up in financial operations [CCFDs] linked to shadow banking but Precious Metals Insights believes it is feasible that by the end of 2013 this could have moreContinue Reading