Monetary Metals Supply and Demand Report: 8 Feb, 2015

The price of gold dropped about $50, and the price of silver fell about 50 cents. Is this just random market jitter, or the great breakdown? Wait. Great breakdown? Yes, many respected mainstream names think gold should be at most a few hundred dollars, especially given the collapse in the other commodities. Some non-mainstream names [...]



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5 replies
  1. RD says:

    Here in Europe, they decide the euro was legal tender. All amounts are calculated in euro equivalent even when you are doing a swap in assets where no money (euros) in involved or that it is FX transaction : they gave day to day official parities.

    And if you “win” in euros even that is an illusion, you have to pay, they do not care that is the euros which is moving : why because if not they could not collect money, that is just as simple as that !

  2. stustev says:

    My first thought about the legislator in Arizona is ‘false education causes false opinions’.
    Education is coming soon although at first the wrong asset will be blamed until there is a little time for the education so soak in.

  3. davidroossien says:

    It’s interesting that you mention Harry Dent. I have a few friends that follow him and are convinced the US dollar will strengthen in gold terms long term (years). I certainly see the possibility of a short term change, but that would bring on defaults and bankruptcies in the banking system, similar to 2008. Thank you for keeping us up to date on the basis data because it will provide an early warning signal for such events.

  4. JamesToronto says:

    First the politicians are electable only by promising more handouts than tax revenues permit. Then they increase taxes, but it is still not enough. So, they ask the CB to print money. This destroys the value of my savings. I respond by converting paper money into real money. Then they have the wickedness to call the relative debasement of paper currency against my gold as a taxable profit! It is infuriating. STUSTEV is absolutely correct. The source of these problems is not the politicians, it is ignorant voters. They have unwittingly been indoctrinated since preschool with socialist and PC propaganda. In a constant state of media-saturated fear, they think money printing and big government is good for them. This is not going to change. The subprime crisis didn’t even make a ripple in the matrix.

  5. Theosebes Goodfellow says:

    ~”One of the objections to the bill, from Democrat Rebecca Rios, was that we pay capital gains tax when other assets go up so why should gold be exempt? She saw the bill, not as a way to move forward to the gold standard but as a ploy by special interest group seeking legislative advantage.”~

    What was that old Laurel and Hardy bit?

    “You can lead a horse to water but a pencil has to be lead.”

    Kind of sums up Miz Rios. You can teach them but you can’t make them think. Though you should be fair and send her a copy of your 2015 monetary outlook. If she doesn’t “get it” after that then just give up. That truly is the finest dissertation I’ve ever seen on money.

    Lastly, for some good ol’ gold porn:

    http://www.marketwatch.com/story/chinese-herdsman-stumbles-onto-a-17-pound-gold-nugget-2015-02-05

    Now there’s a fistful of money if I’ve ever seen it.

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