Gold Sacks Goldman Sachs – Ep. 144

Gold Sacks Goldman Sachs – Ep. 144


* What a difference two days make! Two days ago I recorded my podcast, "Goldman Sachs Sacks Gold", and that was because Goldman Sachs' comments about shorting gold were partially responsible for the severity of the drop in gold over the holiday weekend
* Today, gold is fighting back, at one gold was up better than $30, although as I record this the price has pulled back a bit, still above $1230 - up about $22 on the day
* Gold stocks, the GDX index I mentioned in my last podcast, was up 6% on the day, the biggest move up of the year
* That index has recovered everything it lost on Tuesday
* GDX would have been up a lot more, except that Newmont Mining came out with lower than expected earnings for the 4th quarter; so that stock was only up about 1% after dropping 7% in the first hour of trading
* Several gold stocks made new 52-week highs today and several others are at the highest point of this calendar year
* A very strong day for gold and gold stocks just a couple of days after Goldman Sachs recommended selling the metal short
* People would have been much better off shorting Goldman Sachs
* One of the other catalysts for the rise in the price of gold may well have been the comments made overnight by Jim Bullard, president of the Federal Reserve Bank of St. Louis
* After I read his comments, I expected the price of gold to rally right away, but it didn't begin until later this morning
* Bullard was one of the real Hawks on the Fed, he wanted to raise rates much earlier, citing concern about a stock market bubble
* Talk about closing the barn door after the horses have left! They have left the stables, the property, they're barely on the planet!
* His comments last night about why the Fed should slow down the rate hikes are ironic, because his reason is the volatility in the stock market
* Let me get this straight: He wants to raise rates because we don't want a stock market bubble;
* They raise rates, the bubble is deflating and he wants to stop the rate cuts
* You can't have it both ways.
* Do you want to use monetary policy to prop up the stock market or not?
* Bullard has not turned dove, do who's left? The FOMC minutes came out Wednesday and they showed that only a couple of governors did not show concern over the weakness in the stock market
* What really should get the Fed governors nervous is the economy
* Today we got the Leading Economic Indicators and last month they were down, in fast the original estimate for December was-.2 - instead, it was revised to -.3
* January is now -.2, so that is the second consecutive month of declining Leading Economic Indicators
* That has not happened since August and September of 2011
* Here's the interesting part: QE2 ended in June of that year, so 2 months after the end of QE2, the economic indicators flashed recession
* What did the Fed do? In September of 2011, the second month of the back-to-back declines in LEI, the Fed launched Operation Twist
* That's what happening now, they just raised interest rates, we got back-to-back declines in LEI, what's the Fed going to do? They are going to come back and save the market
* We got more bad economic news today; the Philly Fed, this is the 6th consecutive monthly decline
* January was down 3.5%; February was down 2.8%
* They were expecting -2.5%, so we got a bigger decline than expected
* We got weak news on the housing market; housing starts dropping to a 3-month low, much lower than the 1.175M - instead we got 1.099M
* Permits were also light; they were looking for 1.334M and we got 1.202M on starts
* I think we are just getting started when it comes to the fallout in the housing market
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You Know the Bubble’s About to Pop When Jim Cramer Gives Germany Economic Advice – Ep. 36

You Know the Bubble’s About to Pop When Jim Cramer Gives Germany Economic Advice – Ep. 36

You Know the Bubble's About to Pop When Jim Cramer Gives Germany Economic Advice Ep. 36 * Oil and Russia viewed to be at the epicenter of this week's market chaos * Why is the oil price dropping? The market anticipates a drop in demand due to global recession * Winding down of QE triggering market instability * Economic data still pointing to weakness * Russia raised interest rates to 17% * Ruble crisis is a "dress rehearsal" for the dollar crisis * Our currency crisis will be worse because of our debt * Euro and Yen rallying * This morning gold was up, down, ended up * Volatility indicates changing trends * A recession in the U.S. means QE4 Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

17 Joulu 201424min

Yellen’s Recovery is as real as George ‘s Beach House Ep. 35

Yellen’s Recovery is as real as George ‘s Beach House Ep. 35

Yellen's Recovery is as real as George Costanza's Hamptons Beach House Ep. 35 * Volatile Friday followed by Monday rally trend * The stock market has rallied very high very fast with little technical support. * The gold market had its best week relative to equities. * Only a dozen markets have beaten gold this year. * Rally started with Michigan Consumer Sentiment assisted by Dodd/Frank revisions. * The dollar was mixed at Friday close. * The oil market is indicative of the Fed's movements. * The Fed's history predicts continued to support for bubbles with additional QE, despite reports to the contrary. * QE4 will be bigger than previous QE's and will precipitate higher oil prices. * The pretense that QE is over has fueled the market, but QE4 will trigger the bursting of multiple bubbles. Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

13 Joulu 201430min

Was the U.S. Oil Boom Just Another Fed Inflated Bubble and is it Contained? Ep. 34

Was the U.S. Oil Boom Just Another Fed Inflated Bubble and is it Contained? Ep. 34

Was the U.S. Oil Boom Just Another Fed Inflated Bubble and is it Contained? Ep. 34 * If oil goes down to $35/barrel we will not be able to produce oil for export at that price. * It is no accident that oil prices are dropping as the Fed is ending QE. * What are the implications for the U.S. Economy if the Oil Bubble bursts? * Good jobs in the industry sector will go away. * Oil sector business loans will default * Investors will lose money. * The fallout will be bigger than the dot com bubble. * If oil was a bubble fueled by cheap Fed money, what's next? * If the collapsing oil prices threaten recession, the Fed may launch QE4. * If the Fed does not launch QE4, other bubbles will be affected. Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

12 Joulu 201419min

Much Ado About Nothing and Economic-Policy Truthers Ep. 33

Much Ado About Nothing and Economic-Policy Truthers Ep. 33

Much Ado About Nothing and Economic-Policy Truthers Ep. 33 * Catalyst for the rally was the Retail Sales Report * Cars represent the largest part of the gain * Any slight good news is overblown * Bad news is ignored * Economy is not driven by spending * Economy is driven by savings and production * Gold stable and up on the year against the dollar * Those who question the Government's numbers are being called "Truthers" Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

12 Joulu 201423min

Tax Loss Selling in Bitcoin Ep. 32

Tax Loss Selling in Bitcoin Ep. 32

Tax Loss Selling in Bitcoin Ep.32 * In 2014 Bitcoin was the worst-performing financial asset * Spending bitcoins triggers a taxable event * Spending or selling at a loss also reflects on your taxes * This holiday season, harvest tax losses while shopping * Write-off could exceed value of gift * You can also buy bitcoins back at a savings from original cost if you wait 30 days * Buy Gold and Silver while harvesting tax loss Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

10 Joulu 201420min

Fannie and Freddie Guarantee Bigger Losses

Fannie and Freddie Guarantee Bigger Losses

* U.S. Taxpayers will be forced to guarantee mortgages with 3% down * Qualifiers are low-income or have not owned a home for 3 years * Government is spinning this as "prudent" * Buyers have very little skin in the game * If real estate prices plummet, walking away is an easy choice Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

10 Joulu 201412min

Does Market Volatility Portend a Change of Trend? Ep. 30

Does Market Volatility Portend a Change of Trend? Ep. 30

* Stock market roller coaster ride this week * Chinese market plummets * Forex markets: Yen rallies after 7-year low * The Swiss may discourage the EU against QE * Unwarranted U.S.optimism as negative data is ignored * Gold and Silver strong despite bad press * Gold outperforming the Russel 2000 * Deficit in Manufactured Goods hit all-time high * China reports record trade surplus Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

10 Joulu 201420min

Draghi Said ECB Considered Buying Every Asset Except Gold: Ep. 29

Draghi Said ECB Considered Buying Every Asset Except Gold: Ep. 29

* What is the goal of the "Inflation Mandate? * What is the exact number of the mandate? * If the real mandate is "less than 2%" they're already there * The European economy is expecting another QE, but I don't expect it. * How they plan QE if they don't know what they are going to buy? * Draghi cites success of U.S. QE, but the Fed has not shrunk its balance sheet. * They discussed buying all assets except gold because this would highlight failure of QE Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

4 Joulu 201425min

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