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Silver Investor Community Discussion Forums - SilverSeek.com - SilverSeek.com Articles http://forums.silverseek.com/ Public comments on articles published on SilverSeek.com en Sat, 16 Feb 2019 15:38:10 GMT vBulletin 60 http://forums.silverseek.com/images/misc/rss.png Silver Investor Community Discussion Forums - SilverSeek.com - SilverSeek.com Articles http://forums.silverseek.com/ Retail Apocalypse and Carmageddon Continue to Pick up Speed as Predicted Here http://forums.silverseek.com/showthread.php?69408-Retail-Apocalypse-and-Carmageddon-Continue-to-Pick-up-Speed-as-Predicted-Here&goto=newpost Sat, 16 Feb 2019 03:30:38 GMT *We now know that the Retail Apocalypse took another trip downhill during the all-important holiday season. December reports show retail sales... We now know that the Retail Apocalypse took another trip downhill during the all-important holiday season. December reports show retail sales declined more in one month than they have since … the Great Recession. Notice what a common refrain that comparison has become.
Retail Apocalypse snowballs downhill

Retail sales dropped 1.2% month-over-month in December, the largest drop since September 2009, according to data from the Census Bureau released Thursday. The dip was broadly unexpected – consensus estimates had foreseen a 0.1% increase in retail sales for the month, according to Bloomberg data. Excluding autos and gas, which can be volatile, core retail sales plunged 1.8%. “[The] fall in retail sales in December was every bit as bad as it looks,” Capital Economics’ Michael Pearce said bluntly. The weakness was broad-based.
Yahoo!
The plunge in data was so severe and unexpected by many that some question the Census Bureau’s credibility; but other big financial institutions are revising their outlooks substantially based on the data:
“On the back of this morning’s data… our 4Q real GDP tracking estimate likewise took a big hit, down to 3.1% from 3.7%,” Morgan Stanley’s Ellen Zentner wrote. “The report also has negative implications for consumption growth in the first quarter… Based on this morning’s results, we estimate that 1Q GDP tracking could come in as low as 1%.”
The data does fit with ongoing bankruptcies of brick-and-mortar stores:
The decline of brick-and-mortar stores isn’t expected to slow down, according to a new report. Coresight Research released an outlook of 2019 store closures Wednesday, saying there’s “no light at the end of the tunnel….” Six weeks into 2019, U.S. retailers have announced 2,187 closings, up 23 percent compared to last year. Those closings include 749 Gymboree stores, 251 Shopko stores and 94 Charlotte Russe locations…. Bankruptcies also are continuing at a rapid pace “with the number of filings in the first six weeks of 2019 already at one-third of last year’s total,” the report states…. There’s “potentially many more (closings) on the way due to companies currently in the bankruptcy process and more on the horizon,” the report states.
USA Today
Carmageddon rolls downhill quickly, too

With that, let’s catch up on where the demise of the auto industry has gone since I said all of last year and the year before that it would continue to build momentum in 2018, due in large part to the Federal Reserve’s Great Recovery Rewind. Here is a quick play-by-play log like I gave for the housing market crash just to show how consistent this multi-car pile-up has been:
July, 2018: GM, Ford and Chrysler stocks all take major hits. MarketWatch reported Wolf Richter as noting that we hadn’t seen this kind of triple-punch since … the financial crisis of the Great Recession. Only this time, he noted, Carmageddon was happening during “good times.”
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COT Silver Report - February 15, 2019 for January 22nd http://forums.silverseek.com/showthread.php?69407-COT-Silver-Report-February-15-2019-for-January-22nd&goto=newpost Sat, 16 Feb 2019 03:11:00 GMT *http://silverseek.com/commentary/cot-silver-report-february-15-2019-17580 For anyone not able to see the complete COT report or would prefer to... http://<a href="http://silverseek.co...2019-17580</a>

For anyone not able to see the complete COT report or would prefer to see the combined Gold and Silver COT reports

http://news.goldseek.com/COT/1550263397.php
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A Financial System Headed For A Collision With Debt http://forums.silverseek.com/showthread.php?69406-A-Financial-System-Headed-For-A-Collision-With-Debt&goto=newpost Fri, 15 Feb 2019 02:03:38 GMT *The retail sales report for December – delayed because of the Government shut-down – was released this morning. It showed the largest monthly drop... The retail sales report for December – delayed because of the Government shut-down – was released this morning. It showed the largest monthly drop since September 2009. Online sales plunged 3.9%, the steepest drop since November 2008. Not surprisingly, sporting goods/hobby/musical instruments/books plunged 4.9%. This is evidence that the average household has been forced to cut back discretionary spending to pay for food, shelter and debt service (mortgage, auto, credit card, student loans).

I had to laugh when Trump’s Cocaine Cowboy – masquerading as the Administration’s flagship “economist” – attributed the plunge in retail sales to a “glitch.” Yes, the “glitch” is that 7 million people are delinquent to seriously delinquent on their auto loan payments. I’d have to hazard a wild guess that these folks aren’t are not spending money on the latest i-Phone or a pair of high-end yoga pants.

The chart above shows personal interest payments excluding mortgage debt. As you can see, the current non-mortgage personal interest burden is nearly 20% higher than it was just before the 2008 financial crisis. It’s roughly 75% higher than it was at the turn of the century. The middle class spending capacity is predicated on disposable income, savings, and borrowing capacity. Disposable income is shrinking, the savings rate is near an all-time low and many households are running out of capacity to support more household debt.

I found another “glitch” in the private sector sourced data, which is infinitely more reliable than the manipulated, propaganda-laced garbage spit out by Government agencies. The Conference Board’s measurement of consumer confidence plunged to 120.2 from 126.6 in January (December’s number was revised lower). Both the current and future expectations sub-indices plunged. Bond guru, Jeff Gundlach, commented that consumer future expectations relative to current conditions is a recessionary signal and this was one of the worst readings ever in that ratio.

This was the third straight month the index has declined after hitting 137.9 (an 18-yr high) in October. The 17.7 cumulative (12.8%) decline is the worst string of losses since October 2011 (back then the Fed was just finishing QE2 and prepping for QE3). The expectation for jobs was the largest contributor to the plunge in consumer confidence. Just 14.7% of the respondents are expecting more jobs in the next 6 months vs 22.7% in November. The 2-month drop in the Conference Board’s index was the steepest 2-month drop since 1968.

http://news.goldseek.com/GoldSeek/1550178051.php
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The 7 Major Flaws of the Global Financial System http://forums.silverseek.com/showthread.php?69405-The-7-Major-Flaws-of-the-Global-Financial-System&goto=newpost Fri, 15 Feb 2019 01:59:09 GMT All in graphics that I can't display

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We are the Lemmings http://forums.silverseek.com/showthread.php?69404-We-are-the-Lemmings&goto=newpost Fri, 15 Feb 2019 01:55:00 GMT *What were you doing on August 1, 2018? Likely it was just like any other day, with your thoughts on work, your spouse, your kids, money, what to... What were you doing on August 1, 2018? Likely it was just like any other day, with your thoughts on work, your spouse, your kids, money, what to make for dinner, etc. What you should have been thinking about though, was the Earth.

August 1 was Earth Overshoot Day. What does that mean? Well, Earth Overshoot Day is the day of the year when humanity has used more resources from nature than can renew in that entire year. The date is moving closer to January, meaning every year we use up more natural resources, faster.

That’s a problem, because without a way to replace all the resources we consume - harvested food, fertilizers, energy, metals, etc. - we are gradually depleting nature’s bounty, at a rate that is unsustainable, long-term. If we keep going, and economies keep growing, we’re eventually going to run out. The problem is made worse by the global population increasing, along with the continuing wants of people in the developed world (“the West”) and in less-developed countries (who are demanding houses, cars, fridges, cell phones, etc.), putting more pressure on our finite resources.

This article will take a look at how unsustainable our voracious consumption has become, and how we might live more sustainably in order to #MoveTheDate, in Twitterspeak, back not forward.

Earth Overshoot Day

The day of the year humanity’s consumption becomes unsustainable, started being marked in 2006. The project of compiling this data is performed by the Global Footprint Network (GFN), an international research organization.

Since then, the date has been marching forward every year. In other words, every year our consumption becomes less sustainable. To put this in terms everyone can understand, Earth Overshoot Day 2018 meant that Earth’s population used a year’s worth of resources in seven months. August 2 was the point when we consumed all the meat, fish, grains, energy, etc. (whatever can be made naturally) that nature can regenerate over a year, through over-farming, over-fishing, over-extracting, over-heating or cooling, and over-polluting.

Put another way, in 2018 it would take 1.7 Earths to feed, clothe and sustain the planet’s 7.6 billion people for a year. After August 1, the rest of the year was “overshoot”.

When the first overshoot calculation was announced in 2006, that date was Oct. 9, now it’s the beginning of August.

http://news.goldseek.com/GoldSeek/1550156111.php
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Gold Love Trade Could Set New Valentine’s Spending Record http://forums.silverseek.com/showthread.php?69403-Gold-Love-Trade-Could-Set-New-Valentine’s-Spending-Record&goto=newpost Fri, 15 Feb 2019 01:38:38 GMT *This Valentine’s Day might best be remembered for two things in particular. One, for the first time in 153 years, candy lovers won’t be able to pick... This Valentine’s Day might best be remembered for two things in particular. One, for the first time in 153 years, candy lovers won’t be able to pick up a box of Sweethearts, those classic heart-shaped candies bearing sweet nothings like “BE MINE” and “CRAZY 4 U.” And two, consumers are set to spend more than $20 billion on Valentine’s gifts for the first time ever, thanks in part to a surge in gold jewelry demand—specifically, yellow gold.

Regarding Sweethearts, they’ll be missing from store shelves this year because the candy’s manufacturer, Necco, sadly went bankrupt last May. But never fear! Its new owner, Spangler Candy Company—maker of Dum Dums lollipops—could bring them back as soon as next year.

As for Valentine’s Day spending, what I find interesting is that it continues to grow even as the number of people who admit to celebrating the holiday has been on the decline for years now, according to the National Retail Federation (NRF). It’s estimated that Americans will shell out an all-time high of $20.7 billion this year, easily topping the previous record of $19.7 billion set in 2016.

The increase in spending, I believe, can largely be attributed to the Love Trade, which is all about gold’s timeless role as a treasured gift. Of the $20.7 billion, an estimated 18 percent, or $3.9 billion, will be spent on jewelry alone, much of it featuring gold, silver and other precious metals and minerals.

Just take a look at the results of a recent WalletHub survey. When asked what kind of Valentine’s Day gift was “best,” most women said they preferred jewelry, beating out gift cards, flowers and chocolates. (Interestingly, a third of men said they preferred gift cards, with only 4 percent saying they thought jewelry was the “best” gift.)

http://news.goldseek.com/USFunds/1550087827.php
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The Next Goals for Gold and Silver Prices http://forums.silverseek.com/showthread.php?69402-The-Next-Goals-for-Gold-and-Silver-Prices&goto=newpost Fri, 15 Feb 2019 01:36:36 GMT With our initial price goals for 2019 having been achieved, COMEX gold and silver are now in their first pullback phase of the year. How long will it... With our initial price goals for 2019 having been achieved, COMEX gold and silver are now in their first pullback phase of the year. How long will it last and what are the next upside price targets?
If you've been following along every week, then you'll recall that we were quite adamant regarding a year-end 2018 and Q1 2019 price rally for both gold and silver. From the November lows, we projected a rally in COMEX gold to $1310-1330 and a rally in COMEX silver to $16.35. Both peaked on January 31, with COMEX gold hitting $1331 and COMEX silver reaching $16.20. If you'd like a refresher of what was projected, please see these links:
https://www.sprottmoney.com/Blog/into-year-end-wit...
https://www.sprottmoney.com/Blog/gold-and-silver-p...
https://www.sprottmoney.com/Blog/expectations-for-...
And now, with our initial price goals met, it should come as no surprise that a small pullback is underway, sparked by a rallying dollar that has almost inexplicably risen every day since the January FOMC concluded two weeks ago.

Before we address Stage Two of what will be a terrific year for precious metals investors and traders, let's first attempt to discern where price support will be found and what levels might present the best risk/reward opportunities.
In COMEX gold, the technical picture remains strong, with a solid uptrend in place backed by the positioning of the moving averages, which will become nearly ideal once the 100-day bullishly crosses the 200-day later this month. These factors will combine to keep a consistent bid for COMEX gold exposure on any price drop, thus blunting any possible nefarious intent on the part of The Banks. As you can see below, the area near $1300 should provide significant support, both technically and psychologically. However, any drop below this level will also find stout support near the rising 50-day moving average, currently found near $1285.

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Avoid the Financial Circus http://forums.silverseek.com/showthread.php?69401-Avoid-the-Financial-Circus&goto=newpost Fri, 15 Feb 2019 01:32:10 GMT *“Don’t blame a clown for acting like a clown. Ask yourself why you keep going to the circus.” THE WALL STREET CIRCUS DISTRACTS PEOPLE. Wall... “Don’t blame a clown for acting like a clown. Ask yourself why you keep going to the circus.”

THE WALL STREET CIRCUS DISTRACTS PEOPLE.

Wall Street cheerleaders assure everyone stocks go up in the long term. Yes, they rise because the dollar is devalued every year, which they seldom discuss. Their cheerleaders avoid stating that corrections and crashes occur every five to ten years. Wall Street generates fees by encouraging individuals and pension funds to stay invested for the long term.

Bad advice from Neil Irwin as published in the New York Times—January 2019:

“If it all [stock market volatility and losses] makes you want to flee – or at least shift your 401(k) into cash – that’s understandable. It’s also a bad idea.”[Really? Ride it all the way down?]

What about the over 80% loss in the NASDAQ 100 after the 2000 bubble? Recouping nominal losses after the DOW peak in the 1960s required two decades. It took much longer after adjusting for inflation (devaluation of the dollar). Beware the “long-term.”

Stock buybacks are profitable for top management at big corporations, but often not good for stockholders. GE, GM and Apple bought back stock and lost on those purchases

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Socialist “Green New Deal” Points the Way to Hyperinflation http://forums.silverseek.com/showthread.php?69400-Socialist-“Green-New-Deal”-Points-the-Way-to-Hyperinflation&goto=newpost Fri, 15 Feb 2019 01:29:37 GMT *Socialist Venezuela’s economic collapse and hyperinflationary spiral serves as a warning for American investors. It’s what can happen when a... Socialist Venezuela’s economic collapse and hyperinflationary spiral serves as a warning for American investors. It’s what can happen when a government spends perpetually beyond its means and refuses to face reality.

Despite a U.S. economy that appears relatively strong and stable on the surface, its foundation is beginning to crack under the pressure of a $22 trillion (and growing) debt load.

Both Republicans and Democrats are to blame for that. But rising pro-socialist sentiment within the Democrat Party could turn our current debt danger into a clear and present disaster.

We are potentially just one election away from heading down a road to economic ruin – one that could bring about a Third World-style hyperinflation in the United States.

In his State of the Union Address last week, President Donald Trump specifically warned Americans of the dangers of socialism. He noted that it is gaining traction within some quarters of American politics.

He concluded, “Tonight, we renew our resolve that America will never be a socialist country.”

Tellingly, many Democrats refused to applaud in approval.

Bernie Sanders, who nearly won the Democrat presidential nomination in 2016 as an avowed socialist, scowled. His Senate colleague, Massachusetts ultra-liberal Ed Markey, sat stone faced with arms folded. Meanwhile, rising far-left star Alexandria Ocasio-Cortez tuned out Trump and plotted her next publicity stunt.

Cortez, Sanders, Markey, and 2020 presidential hopefuls including Cory Booker are pushing what they call a “Green New Deal.”

This radical proposal would be the biggest expansion of government size and power in history.

It would impose draconian, economically crippling restrictions on industry and transportation while authorizing trillions of dollars in new spending on everything from windmill farms, to universal college, to universal healthcare, to reparations for historically aggrieved groups, to “economic security” handouts to people who are “unable or unwilling to work.”

“The Green New Deal Would Spend the U.S. Into Oblivion,” blared a Bloomberg headline.

The article warned of “unrealistic and ruinously expensive economic proposals” contained in the Green New Deal. It would “take every big spending idea that has emerged on the political left in recent years and combine them into one large package deal, with little notion of how to pay for them all.”

The Green New Deal would plunge the United States into full-fledged socialism. If a champion of it like Cory Booker somehow wins the White House in 2020 and Republicans lose the Senate, there may be no stopping America’s march toward economic oblivion.

This political “black swan” scenario is just one among other potential triggers of hyperinflation. A world war or a systemic failure of the Fed-backed fractional reserve banking system are other potential triggering events.

A currency crisis of some magnitude (which may or may not reach the level of hyperinflation) appears to be inevitable even under favorable assumptions about our political and economic future.

The Congressional Budget Office (CBO), in its recent report “The Budget and Economic Outlook: 2019 to 2029,” projects an unprecedented surge in the size of the national debt relative to the economy

http://news.goldseek.com/GoldSeek/1550064745.php
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This AI Company Is the Future of Gold Exploration http://forums.silverseek.com/showthread.php?69398-This-AI-Company-Is-the-Future-of-Gold-Exploration&goto=newpost Wed, 13 Feb 2019 05:27:27 GMT -- Published: Tuesday, 12 February 2019 | Print (http://www.goldseek.com/tools/print.php) | *Comment - New!... -- Published: Tuesday, 12 February 2019 | Print | Comment - New!



Gold mining is one of the very oldest human occupations. The earliest known underground gold mine, in what is now the country of Georgia, dates back at least 5,000 years, when people were just starting to develop written language.

Over the centuries, a number of innovations have emerged that disrupted and forever changed how we explore and mine for gold and other metals. Think dynamite, or the steam engine.

Lately, however, innovation has slowed. Mining companies are in cost-cutting mode, and many producers have favored generating short-term cash flow, often to the detriment of longer-term value. In last year’s “Tracking the Trends” report, Deloitte analysts observed that “miners from 50 years ago would find little has changed if they entered today’s mines, a situation that certainly doesn’t hold true in other industries.”




Consider the earth-shattering change that’s taken place in oil and gas over the past two decades. Fracking and horizontal drilling have completely revolutionized how we extract resources from the ground, making hard-to-reach oil and natural gas accessible for the first time.

No equivalent technology exists in precious metals. Some companies are now using cutting-edge technology like blockchain to improve supply chain efficiency and transparency, but to date there’s no “gold fracking” method. As a result, metal ore grades are decreasing, and large-scale gold discoveries are becoming fewer and farther between.

One company thinks it has the formula to reverse this trend. I think it could be sitting on a gold mine, pun fully intended.


Meet Goldspot Discoveries

“Some people call it ‘peak gold,’ but I tend to think of it more as ‘peak discovery,’” says Denis Laviolette, the brains behind Goldspot Discoveries, a first-of-its-kind quant shop that aims to use artificial intelligence (AI) and machine learning to revolutionize the mineral exploration business.

A geologist by trade, Denis conceived of Goldspot while serving as a mining analyst with investment banking firm Pinetree Capital. His vision, as he described it to me last week, was to disrupt mineral exploration as profoundly as Amazon disrupted retail and Uber the taxi business.




“We have more data at our fingertips than ever before, yet new discoveries have been on the decline despite ever increasing exploration spending on data collection,” Denis continues. “We believe Goldpsot can change that. Harnessing a mountain’s worth of historic and current global mining data, AI can identify patterns necessary to fingerprint geophysical, geochemical, lithological and structural traits that correlate to mineralization. Advances in AI, cloud computing, open source algorithms, machine learning and other technologies have made it possible for us to aggregate all this data and accurately target where the best spots to explore are.”

Hence the name Goldspot—though I should point out that Denis considers the Montreal-based company “commodity agnostic,” meaning it collects and aggregates data for all metals, including base metals, not just gold.

Moneyball for Mining

Denis has the record to back up his extraordinary claims. In 2016, Goldspot took second place in the Integra Gold Rush Challenge, a competition with as many as 4,600 worldwide applicants. After consolidating more than 30 years of historical mining and exploration data into a 3D geological model, the company was able to identify several target zones with the highest potential for gold mineralization in Nevada’s Jerritt Canyon district, among several others.

Goldspot’s targeting approach was a complete success. New zones were discovered by AI, validating the company’s models of finding patterns in the data that humans alone couldn’t have seen.

http://news.goldseek.com/USFunds/1549998793.php
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As The Fed Reflates The Stock Bubble The Economy Crumbles http://forums.silverseek.com/showthread.php?69397-As-The-Fed-Reflates-The-Stock-Bubble-The-Economy-Crumbles&goto=newpost Wed, 13 Feb 2019 05:16:02 GMT *I get a kick out of these billionaires and centimillionaires, like Kyle Bass yesterday, who appear on financial television to look the viewer in the... I get a kick out of these billionaires and centimillionaires, like Kyle Bass yesterday, who appear on financial television to look the viewer in the eye and tell them that economy is booming. Kyle Bass doesn’t expect a mild recession until mid-2020. Hmmm – explain that rationale to the 78%+ households who are living paycheck to paycheck, bloated with a record level of debt and barely enough savings to cover a small emergency.

After dining on a lunch fit for Elizabethan royalty with Trump, Jerome Powell decided it was a good idea to make an attempt at reflating the stock bubble. After going vertical starting December 26th, the Dow had been moving sideways since January 18th, possibly getting ready to tip over. The FOMC took care of that with its policy directive on January 30th, two hours before the stock market closed. Notwithstanding the Fed’s efforts to reflate the stock bubble – or at least an attempt to prevent the stock market from succumbing to the gravity of deteriorating fundamentals – at some point the stock market is going to head south abruptly again. That might be the move that precipitates the renewal of money printing.

Contrary to the official propaganda the economy must be in far worse shape than can be gleaned from the publicly available data if the Fed is willing to stop nudging rates higher a quarter of a point at a time and hint at the possibility of more money printing “if needed.” Remember, the Fed has access to much more detailed and accurate data than is made available to the public, including Wall Street. The Fed sees something in the numbers that sent them retreating abruptly and quickly from any attempt to tighten monetary policy.

http://news.goldseek.com/GoldSeek/1549993337.php
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U.S. Congressman Introduces Bill to Remove Income Taxation from Gold and Silver http://forums.silverseek.com/showthread.php?69396-U-S-Congressman-Introduces-Bill-to-Remove-Income-Taxation-from-Gold-and-Silver&goto=newpost Wed, 13 Feb 2019 05:10:32 GMT *The battle to end taxation of constitutional money has reached the federal level as U.S. Representative Alex Mooney (R-WV) today re-introduced sound... The battle to end taxation of constitutional money has reached the federal level as U.S. Representative Alex Mooney (R-WV) today re-introduced sound money legislation to remove all federal income taxation from gold and silver coins and bullion.

The Monetary Metals Tax Neutrality Act (H.R. 1089) backed by the Sound Money Defense League and free-market activists – would clarify that the sale or exchange of precious metals bullion and coins are not to be included in capital gains, losses, or any other type of federal income calculation.

“My view, which is backed up by language in the U.S. Constitution, is that gold and silver coins are money and are legal tender,” Rep. Mooney said.

“If they’re indeed U.S. money, it seems there should be no taxes on them at all. So, why are we taxing these coins as collectibles?”

Acting unilaterally, Internal Revenue Service bureaucrats have placed gold and silver in the same “collectibles” category as artwork, Beanie Babies, and baseball cards – a classification that subjects the monetary metals to a discriminatorily high long-term capital gains tax rate of 28%.

Sound money activists have long pointed out it is inappropriate to apply any federal income tax, regardless of the rate, against the only kind of money named in the U.S. Constitution. And the IRS has never defended how its position squares up with current law.

Furthermore, the U.S. Mint continuously mints coins of gold, silver, platinum, and palladium and gives each of these coins a legal tender value denominated in U.S. dollars. This formal status as U.S. money further underscores the peculiarity of the IRS’s tax treatment.

A tax neutral measure, the Monetary Metals Tax Neutrality Act states that “no gain or loss shall be recognized on the sale or exchange of (1) gold, silver, platinum, or palladium coins minted and issued by the Secretary at any time or (2), refined gold or silver bullion, coins, bars, rounds, or ingots which are valued primarily based on their metal content and not their form.”

http://news.goldseek.com/GoldSeek/1549980009.php
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Canadian class action against gold and silver market rigging continues against other http://forums.silverseek.com/showthread.php?69395-Canadian-class-action-against-gold-and-silver-market-rigging-continues-against-other&goto=newpost Wed, 13 Feb 2019 05:04:43 GMT *Canadian class action against gold and silver market rigging continues against other banks Dear Friend of GATA and Gold: While the law firm... Canadian class action against gold and silver market rigging continues against other banks


Dear Friend of GATA and Gold:

While the law firm superintending the Canadian class-action lawsuit against gold and silver market rigging doesn't seem interested in communicating to the public about the case, GATA is reliably informed that the settlement agreement with Deutsche Bank reported today --

http://www.gata.org/node/18857

-- is not the end of the case.

The lawsuit continues against eight other banks, the London Gold Market Fixing organization, and the London Silver Market Fixing organization, as specified in today's announcement from the law firm:

https://sotosclassactions.com/wp-con...old-and-Silver...

GATA is also reliably informed that as with Deutsche Bank's settlement of the similar anti-trust lawsuit against it in the United States, the bank has agreed to provide evidence against the other defendants in the Canadian class action. Thus the Canadian lawsuit eventually may recover far more than the C$5.5 million Deutsche Bank has agreed to pay to settle the claims against it in Canada.

Of equal interest here is that as far as GATA can tell, the monetary metals mining industry and the World Gold Council have had nothing to say about these settlements, nor about the several admissions of gold and silver market rigging recently extracted from bullion bank traders by U.S. government agencies.

It seems that most of the monetary metals mining industry is interested only in touting share ownership and the World Gold Council is interested only in ensuring that there never is a world gold council.

That may leave GATA as the only advocate for monetary metals investors and adherents of free and transparent markets, limited and accountable government, and fair dealing among nations. Until the people and organizations with the resources to do this job as it could and should be done actually undertake it, GATA will be grateful for your financial support:

http://www.gata.org/node/16

Even a $5 contribution will be $5 more than GATA has received from Newmont Mining and Barrick Gold.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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COT Silver Report - February 12, 2019 for January 15th http://forums.silverseek.com/showthread.php?69394-COT-Silver-Report-February-12-2019-for-January-15th&goto=newpost Wed, 13 Feb 2019 04:59:53 GMT *http://silverseek.com/commentary/cot-silver-report-february-12-2019-17577 For anyone not able to see the complete COT report or would prefer to... http://silverseek.com/commentary/cot...-12-2019-17577

For anyone not able to see the complete COT report or would prefer to see the combined Gold and Silver COT reports

http://news.goldseek.com/COT/1550003686.php
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The $12 trillion federal debt bombshell http://forums.silverseek.com/showthread.php?69393-The-12-trillion-federal-debt-bombshell&goto=newpost Tue, 12 Feb 2019 12:17:15 GMT *In a recent Financial Times editorial, Gillian Tett, who rose to prominence for her coverage of the 2008 financial crisis, raised the question of... In a recent Financial Times editorial, Gillian Tett, who rose to prominence for her coverage of the 2008 financial crisis, raised the question of financing the U.S. debt. Headlined America faces a battle to find buyers for its bonds, her article begins by referencing a letter to Secretary Mnuchin from Beth Hammack, a Goldman Sachs banker who also chairs the Treasury Bond Advisory Committee. The letter, she says, contains a bombshell:

“According to TBAC calculations, America will need to sell an eye-popping $12 trillion of bonds in the coming decade, sharply more than it did in the past 10 years. This will ‘post a unique challenge for the Treasury, Ms. Hammack warned, even ‘without the possibility of a recession’. In plain English, the Wall Street luminaries on the committee were asking who on earth – or in global finance – will buy this looming mountain of Treasuries.”

When Jerome Powell and the president sat down for dinner at the White House in early February one wonders what was on the agenda. Treasury Secretary Steven Mnuchin, who also attended the dinner along with Fed vice-chair Richard Clarida, joked that having the Fed chairman over to dinner was “somewhat of a covert operation … so it didn’t create speculation.” The Fed press statement that followed went to great lengths to assure Wall Street and the rest of the world that nothing of consequence happened. Individuals at this level of government, though, do not have hastily-called, high-profile meetings at the White House simply to socialize and attend to their friendship.

http://news.goldseek.com/GoldSeek/1549906000.php
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