Massive Debt Increase Forecast by Congressional Budget Office
Encore Gold
by Mike Will
4y ago
CBS News published an article today stating the obvious. I found the following statement to be most interesting: “Still, the fastest growing sector of spending won’t be entitlement programs, according to the report: it will be the interest the government has to pay on its debt.  The CBO flagged two explanations for that: “The first and more important is that interest rates are expected to rise from their current low levels, making any given amount of debt more costly to finance. The second reason is the projected increase in deficits: The larger they are, the more the government will need ..read more
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Federal Reserve raises interest rates 1/4 percent.
Encore Gold
by Mike Will
4y ago
Janet Yellen, Federal Reserve Chair, raised interest rates by .25% last week. The action was much anticipated by the market and the action was only the third time interest rates were raised in the last decade. The Fed has been very accommodating to the banks in response to the near global financial meltdown that took place in 2008/2009. The “recovery” has been anemic at best and many feel that the economy still has not recovered to where it was at prior to the near collapse. What I find most interesting is her very “dovish” comments given during the announcement.  Please note the followin ..read more
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Precious Metals Strong Performance for 30 days.
Encore Gold
by Mike Will
4y ago
Precious metals continue to gain momentum as we near the end of February. Gold is up 3.26% in the last 30 days. Silver outperforms gold during the same time period increasing by 6.33%. Historically, options expiration performances were muted allowing the bears to both be profitable and to achieve the goal of price suppression. I will write more about the reasoning behind precious metals price suppression in the future. But for now, is this an indication of changing times??? Following the metals closely has taught me to never underestimate the power of printed money to influence any market in e ..read more
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JP Morgan Silver Price Rigging Case Overturned on Appeal
Encore Gold
by Mike Will
4y ago
US Appeals Court overturns Dismissal in Silver Rigging Case against JPMorgan. Last June, JPMorgan Chase & Co had won the dismissal of three private antitrust lawsuits, including from hedge fund manager Daniel Shak, accusing the largest U.S. bank of rigging a market for silver futures contracts traded on COMEX.The lawsuits accused JPMorgan of having in late 2010 and early 2011 placed artificial bids onto the trading floor, harangued employees at metals market COMEX to obtain prices it wanted, and made misrepresentations to a committee that set settlement prices. The New York 2nd U.S. Circui ..read more
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20 Year official “Strong Dollar Policy” in Question.
Encore Gold
by Mike Will
4y ago
The new administration is sending mixed signals regarding the “Strong Dollar” policy which has been in force for 20 years. While the policy may have served previous administrations well, it seems that there are opposing forces at work. Many of the administrations goals and objectives would support a stronger dollar yet make competitive trade overseas difficult for US based manufacturing companies. Follow this link for more details:  https://www.washingtonpost.com/news/wonk/wp/2017/01/18/the-serious-contradiction-in-trumps-views-on-the-dollar/?hpid=hp_hp-cards_hp-card-business%3Ahomepage%2 ..read more
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Global Debt Hits 325% Of World GDP, Rises To Record $217 Trillion
Encore Gold
by Mike Will
4y ago
As the global economy slows down, debt loads will increase. The only option left is to print more money in the hope of delaying the inevitable debt default. Everything will be attempted before the world accepts default. The following article establishes just how huge the global debt is…. Originally posted by Tyler Durden,  Zero Hedge,  January 4, 2017 While we eagerly await the next installment of the McKinsey study on global releveraging, we noticed that in the latest report from the Institute for International Finance released on Wednesday, total debt as of Q3 2016 once again r ..read more
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The Ebb Tide Welcomes 2017
Encore Gold
by Mike Will
4y ago
The curtain has closed on 2016. Left in its wake is a world demanding change. No longer content to accept the status quo, the masses expressed their discontent through several very unexpected votes both in Europe and in the USA. The underlying global economy continues to struggle in direct opposition to the promise of renewed optimism projected by a very few in some circles. Current economic conditions have been papered over since the 2008/2009 meltdown and we have never really recovered from it. Any corrective actions taken on the part of our new leadership going forward will take longer to i ..read more
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November Chinese Gold demand very strong!
Encore Gold
by Mike Will
4y ago
The monthly gold demand in 2016 for Chindia (China and India) has averaged roughly 250 metric tonnes per MONTH. That demand alone accounts for ALL of the annual global mining output on our planet Earth. The volume of physical gold withdrawn from vaults of the Shanghai Gold Exchange (SGE) in November accounted for 215 tonnes, the highest amount in ten months. Year to date SGE withdrawals have reached 1,774 tonnes. What is particularly important about this data is that the East settles daily with the physical metal. The West uses paper settlement with very little actual metals involved in settle ..read more
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Major gold price divergence between Shanghai and London
Encore Gold
by Mike Will
4y ago
Over the last several weeks there has been an increase in the spread between the gold spot price in Shanghai and London. Settlement in China is done with physical metal twice daily. Settlement in London is a paper transaction. The following article goes into much greater detail and clearly indicates that the trend is continuing. This could be interpreted as a supply problem developing in London. The same divergence is taking place between the Comex and Shanghai. LAWRIE WILLIAMS: Major gold price divergence between Shanghai and London Few seem to have commented on what appears to be an increasi ..read more
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Deutsche Bank to pay $38 million in U.S. silver price fixing case
Encore Gold
by max
4y ago
Deutsche Bank to pay $38 million in U.S. silver price-fixing case. Deutsche Bank AG (DBKGn.DE) has agreed to pay $38 million to settle U.S. litigation over allegations it illegally conspired with other banks to fix silver prices at the expense of investors, according to court papers filed on Monday. The settlement, disclosed in papers filed in Manhattan federal court, came in one of many recent lawsuits in which investors have accused banks of conspiring to rig rates and prices in financial and commodities markets. See more on www.reuters.com The post Deutsche Bank to pay $38 million in ..read more
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