Blog Archives

Metals Analyst: A New Gold & Silver Bull Market is Unfolding Before Our Eyes!

With Gold and Silver Hit Hard This Week On The Fed’s Rate Hike Threat, Craig Hemke Joins the Show, Discussing:

  • Support at $1250 & $16.50: Will Gold and Silver Hang In There?
  • THIS IS THE HAMMER – Chinese Buy Barclay’s 2,000 Ton Gold Vault Built in 2012
  • Why Won’t Anyone Stand For Delivery and CRASH THE COMEX? 
  • Fundamentals Snap the Game!: “We’re Shaping Up For Something That’s Going to be MONUMENTAL” 
  • New Bull Market Is SNORTING – Institutional Investors Are BTFD! 

Doc, Dubin, & Craig Hemke Break Down All the Action In a Critical Market Update: 

Handicapping the antics of Fed “jawboning” with Craig Hemke is always great fun, and this week offers a target rich environment.  Despite market turmoil, Hemke makes the case that the minimal damage we’ve seen since FOMC minutes release is the sort of trading one would expect from the new and unfolding precious metals bull market. 

Gold found support this week at its 50 day moving average and the mining shares continue to brush aside cartel antics like Yellen and company are nothing more than annoying gnats.  (more…)

DOLLAR DEATH By Gold – Golden Jackass

Will the US dollar end this summer?
Golden Jackass Jim Willie warns China is preparing an EXECUTION via gold

Click Here For Jim Willie’s Full Interview on DEATH BY GOLD:

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US firms hiding $1,400,000,000,000 in offshore tax haven

US corporate giants, such as Apple, General Electric, and Microsoft are hidden nearly $1.4 trillion in dozens of offshore tax havens. That is $1,400,000,000,000.

The companies also used more than 1,600 subsidiaries in tax havens to hoard and move money around outside the reach of fiscal authorities. At the same time, the corporations keep on taking benefits from government support in their home countries paid by taxpayers.

The huge profits that major corporations have reported they are holding offshore, partly because of the high taxes they say they would have to pay for shifting the profits back to the US.

Read more: US firms hiding $1,400,000,000,000 in offshore tax haven

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In Toronto on 16 June? Limited tickets available for live Max & Stacy with @bitgoldinc

HUGE Gold & Silver Break Out Ahead | Golden Jackass

After several years of refusing to make predictions on the price of gold and silver, Hat Trick Letter Editor Jim Willie is ready to make a BIG ONE…

Click Here For Golden Jackass Jim Willie’s Thoughts On Gold and Silver:

[KR916] Keiser Report: Hegemony, control and Russian bonds

We discuss how regarding everything beyond their control, central banks have created a financial and economic system not free for its participants. We look at the end of hegemony spotted in the price of Russian bonds and at the Bank of Japan failing, yet again, to get any sign of life from the Japanese economy. In the second half, Max interviews the ‘Silver Guru’, David Morgan of TheMorganReport.com, about the latest in the gold, silver and bond markets.

Bank Bail-Ins Pose Risks To Depositors, Investors & Economies

Bank bail-ins pose risks to retail investors and especially savers throughout the western world. The new bail-in rules have been made operational since the beginning of this year in the EU and in many other countries yet the risks and ramifications of bail ins have been largely ignored in most of the media.


The Financial Times covers bail-ins today with a focus on the risk to investors while continuing to ignore that posed to savers and depositors including small and medium size enterprises and the wider economy.

Bank bail-ins remain one of the greatest, but most poorly analysed and understood threats to depositors and savers today. Fail to prepare … prepare to fail …

Read More Here

Fed Up with the Fed

Is anyone else fed up with the Federal Reserve? To paraphrase Irving Fisher’s famous quote about the stock market just before it crashed in 1929, we’ve reached a permanently high plateau of Fed mismanagement, Fed worship and Fed failure.

The only legitimate role for a central bank is to provide emergency liquidity in financial panics to creditworthy borrowers. Once the bad debt (credit extended to failed enterprises and uncreditworthy borrowers) is written off, the system resets as asset valuations adjust to reality–how ever unpleasant that might be for the credulous participants who believed the ever-present permanently high plateau shuck and jive. (more…)

Trump plans to tear down Obama’s banksters reform law

Donald Trump will dismantle all US financial reforms known as Dodd-Frank. Trump will unveil a detailed economic policy platform in two weeks.

Trump: “The 2010 Dodd-Frank law is harming the US economy. Dodd-Frank has made it impossible for bankers to function. It makes it very hard for bankers to loan money for people to create jobs, for people with businesses to create jobs. And that has to stop. What I will do is close to dismantling of Dodd-Frank.”

Read more: Trump plans to tear down Obama’s banksters reform law

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Buy Gold and Silver Coins and Bars – Leading Financial Adviser In Ireland

eddiehobbsBuy gold and silver coins and bars for delivery and storage has advocated a leading financial adviser in Ireland. Eddie Hobbs has given advice to clients and says that they should buy silver and gold bullion in order to protect from the coming global financial crisis.

Holding a small amount of cash or gold and silver coins at home makes sense provided you’ve allowed for the security risks. This is on the basis that the existing banking system may be closed and that access to cash may be limited as it has been for periods in Greece and in Cyprus after their financial crisis. Although this was not a feature of the financial crisis in Ireland, it did come close to it.

In the event of a general loss of confidence in major currencies, especially the Dollar and secondarily the Euro, holding physical silver coins makes a lot of sense. Silver does not move in step with gold in the short term but in a severe deflationary event and a loss of confidence in paper currencies, having silver, which comes sat lower unit values to gold is attractive.

An ounce of gold by May 2016 is worth just over €1,100 (£880) while an equivalent weight in silver is €15 (£12) <See prices below>

Read More Here

Got a good pitch why @StartJOIN community should gift-crowdfund a £60 #StartNODE for you? (includes shipping) email: [email protected]

Are Property Taxes a “Wealth Tax” on the (Mostly) Non-Wealthy?

In my recent entry Dear Homeowner: If You’re Paying $260,000 in Property Taxes Over 20 Years, What Exactly Do You “Own”?, I questioned the consequences of high property taxes. Some readers wondered if I was saying all property taxes should be abolished. The short answer is no–what I was questioning is local government reliance on property taxes to the point that owning a home no longer makes financial sense because the property taxes consume any appreciation other than the transitory “wealth” generated by a housing bubble.

In effect, local tax authorities are capturing all future appreciation for themselves. Note that applies to areas with high property taxes–in excess of $10,000 annually, not locales with annual property taxes of $2,000.

State and local taxes–sales, income and property–tax very different events. Sales taxes are based on consumption, and are typically highly regressive, as low-income households pay a higher percentage of their income on sales taxes than higher-income households.

Income taxes are typically progressive, as the higher one’s income, the more income tax one pays.

Property tax is not based on consumption or income, but on the presumed wealth and income of property owners. In effect, property taxes are a wealth tax: if you can afford a house, you can afford property taxes.

The fallacy in this assumption is that homeowners’ incomes do not automatically rise along with housing valuations. Consider the 35% increase in the Case-Shiller 20-City Index since 2012: in a four-year period that officially experienced a mere 4% inflation, housing leaped 35%.

Meanwhile, real median household incomes rose a paltry 5%. Local tax authorities love housing bubbles because rising valuations justify higher property taxes. But the homeowners’ income needed to pay higher property taxes may well have declined during the bubble due to layoffs, shortened hours, medical emergency, reduced bonus, etc.

Real estate professional EB described the consequences of this mismatch of earnings need to pay property taxes and soaring property taxes:

You are correct that property taxes are an oft-forgotten cost of homeownership that many buyers fail to properly evaluate when determining how much house they can afford over the long term.

Perhaps a better way to view property taxes is as an inefficient proxy for income taxes — state and local governments assuming that people who can afford a home of a certain value, must have sufficient income to pay ad valorem taxes and per foot and per parcel charges at a given rate.

In a volatile economy, that assumption is often invalid. When the Fed runs out of monetary games to play, and asset values across the economy normalize, both state and local governments and homeowners will all be in a pinch — governments because the valuation-based portion of the tax base will crash, and homeowners because the fixed charges will no longer fit within their diminished incomes.

This is already occurring in suburban Chicago, where annual property taxes can approach 10% (!) of property values.

In a recession, earnings can decline very quickly indeed. Meanwhile, property taxes are “sticky”: they only decline grudgingly (if ever), and only if homeowners pursue bureaucratic appeals based on the declining value of their home.

Owning your house free and clear (no mortgage) is no guarantee you’ll be able to live there once property taxes are $1,000 per month. One of the emotional triggers of Prop 13 limitations on property tax increases in California was the stories of elderly pensioners having to sell their homes because they could no longer afford the skyrocketing property taxes.

A wealth tax based on housing valuations applies equally to homeowners with diminishing income, i.e. the decidedly non-wealthy.

As pensions dry up and blow away under the relentless erosion of the Federal Reserve’s zero-interest rate policy (ZIRP), unaffordable property taxes may well start evicting homeowners from the “asset” they mistakenly thought they “owned.” If your Social Security pension can barely pay your property tax, never mind your Medicare, healthcare costs, food and other living expenses, then what exactly do you own?

As I noted before, as far as the tax authorities are concerned, all you really own is an obligation to pay property taxes and an option to profit from the next housing bubble. If the bubble pops in a recession that also costs you your job, well tough luck, Bucko–your “asset” reverts to the state/county as payment for property taxes you can’t possibly pay.

If politicos and tax authorities think people will passively watch their neighbors lose their homes to sky-high property taxes, they will soon discover their mistake.

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