Posted at 10:58 AM (CST) by & filed under Jim's Mailbox.

Jim/Bill,

As I have said previously, the US economy is experiencing an avalanche.

Dave

Retail Apocalypse Accelerates – 8,700 Stores Closing, Number Set To Rise
July 8, 2020

. . .

This all suggests there’s no V-shaped recovery this year – one might want to hunker down for a prolonged downturn, as explained here.

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Posted at 9:55 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

This speaks to the value of the dollar versus other fiat currencies. Gold and silver will tell you about ALL fiat currencies. Got gold?

‘Death Cross’ Strikes U.S. Dollar As COVID-19 Cases Grow
July 8, 2020

NEW YORK (Reuters) – A resurgent coronavirus pandemic in the United States and the prospect of improving growth abroad are souring some investors on the dollar, threatening a years-long rally in the currency.

The dollar index is off 6% from its recent highs, while net bets against the currency in futures markets stand near their highest level since 2018.

A decline in the dollar earlier this week set off a technical formation known as a “Death Cross,” which occurs when the 50-day moving average crosses below the 200-day moving average, according to analysts at BofA Global Research.

Past occurrences of the Death Cross have been followed by a period of dollar weakness eight out of nine times since 1980 when the 200-day moving average has been declining, as it is now, analysts at the bank said.

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Posted at 4:44 PM (CST) by & filed under In The News.

Bill Holter’s Commentary

Bravo Erik, if you are riding through central Texas, I will drink a beer or two with you!

The Interpreters Have Stolen Our Liberty (On the Constitution)_001

The Interpreters Have Stolen Our Liberty (On the Constitution)_002

Posted at 4:42 PM (CST) by & filed under Jim's Mailbox.

Jim/Bill,

Berkshire now owns more than $91 billion in Apple shares, representing 43% of the conglomerate’s entire portfolio — We are close to the end IMPOV!

GG

Our friend GG checks in with a head scratcher. Even though Mr. Warren sits on a pile of cash (because he cannot find value), 43% of his stock holdings are in one company? Pretty aggressive, hope it all works out for him! All it takes is one major blunder to ruin a reputation, not to mention one’s wealth…

Bill

Diversify? Almost Half Of Warren Buffett’s Berkshire Hathaway Portfolio Is Now Composed Of A Single Stock
July 8, 2020

Warren Buffett once said that “diversification is protection against ignorance. It makes little sense if you know what you are doing.” The take-away: Load up on what you know.

Even if it’s a tech stock, apparently.

A recent peek into Buffett’s Berkshire Hathaway BRK.A, +0.04% BRK.B, +0.02% $214 billion portfolio underscores that the Oracle of Omaha is following his own advice, considering how much stock Berkshire has accumulated in Apple AAPL, +2.32%.

Buffett, thanks to Apple’s stellar run, now owns more than $91 billion’s worth of the iPhone maker, which constitutes 43% of the total Berkshire pie, according to figures cited by the Motley Fool.

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Posted at 9:22 AM (CST) by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com

Financial writer and precious metals expert Craig Hemke has predicted for the last year and a half that “high demand coupled with low supply will unlock the price of precious metals.”  Nowhere has that prediction been more on target than in the gold price.  This year, it looks like gold prices will continue to climb with the doubling of Fed debt on its balance sheet, and massive stimulus from Congress to fight the virus lockdown.  Hemke explains, “A key driver here is the Fed policy that is going to lead to a 1970’s style of stagflation. . . .”

Now come supply shortages in the rigged metals markets and a reason to end short selling by a big bank.  Hemke contends, “The abuse of the markets was so extreme that in the first 15 days of March of this year, they did 290 thousand contracts (at 5,000 ounces per contract).  That’s 900 metric tonnes this way in just the first 15 days of March.  Then, boom, everything collapses.  Here comes the Fed with QE (money printing) to infinity.  The mints are closed.  The refineries are closed.  There is no gold anywhere.  The spread explodes to $100.  There are articles written that say HSBC lost $200 million in a day . . . and massive losses because they got caught with no physical gold. . . . Everybody is showing up now and demanding delivery from COMEX.  They are having to fly in metal from everywhere to try to make it look like it’s working. . . . So, now, these banks, like JP Morgan, which were able to control the market by issuing these shorts and calling it a hedge, are now being called to deliver.”

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Posted at 9:01 AM (CST) by & filed under General Editorial.

Great and wonderful Tuesday Morning Folks,

     Precious Metals are rarely allowed a follow thru day after a nice and positive move up is made like yesterday, with Gold now at $1,784.20, down $9.20 after hitting a low of $1,781.20 with the high so far today at $1,797.60. Silver is leading us lower, as usual, with the trade at $18.31 down 27.2 cents after hitting the London low of $18.235 with the high up at $18.68. The US Dollar finally did get overseas support with its value now at 96.90, up 21.9 points after hitting a high of 97.105 with the low at 96.555. Of course, all this happened already, before 5 am pst, the Comex open, the London close, and after Sven the trader, claims “Markets are basically just a liquidity meth lab”… with no earnings growth during the last few years, “it is folly to pretend markets are about anything else but the Fed”. One thing for certain, meth labs and currencies do blow up, as witnessed in our next few paragraphs.

     In Venezuela, Gold value is now priced at 17,819.70 Bolivar taking back 26.96 overnight with Silver at 182.871 showing a drop of 2.247 Bolivar. In Argentina, the Peso has Gold valued at 126,242.61 showing a gain of 134.27 with Silver down 12.22 A-Peso’s with the price at 1,295.51. Gold’s price in Turkey now sits at 12,251.21 Lira, showing a reduction of 19.81 with Silver losing 1.559 T-Lira with the last trade at 125.725.

      Here are some charts to ponder upon, Gold’s price under the Venezuela’s Bolivar rallied 502,617.91% in 3 years’ time. It’s unfortunate this same site removed the other currencies vs. Gold’s past multiyear rally, because they were substantially huger, much huger, in fact ginormous! Pardon my Trump-ette.  Argentina’s Peso only shows a 115.52% gain since last year, here is a chart between the Argentine Peso and US Dollar where the currency values are many % points higher past that 1 year period. Btw, the Argentine Peso is our highest printed blow up currency to date. Turkey’s Lira has also fallen against the US Dollar which also means Gold price rise was substantial as well. This is why we believe the prices of precious metals, under our dollar, just may meet, or exceed, these past facts as everything unwinds.

      July Silver Delivery Demands now stand at 3,401 fully paid for 5,000-ounce contracts and with a price range between $18.26 and $18.22 with the last buy at the high, proving a drop of 132 in the demand count since yesterday’s posts and with a Volume of 78 already up on the board. Yesterday’s activity happened between $18.64 and $18.21 with the last buy at $18.53 with the close lower at $18.504. The fear is rising and so is the Open Interest in Silver as another 2,117 more shorts had to be added yesterday or today the price would be higher with the total count now at 169,735 Overnighters going against the physicals.

      July Gold’s Delivery Demands now totals 861 fully paid for 100-ounce contracts proving a drop of 409 receipts either getting filled here at the Comex or EFP’d over to London, with this mornings trading range between $1,789.30 and $1,784.90 with the last buy at the low and with a Volume of 178 already up on the board. The fear is also showing up behind the price in Gold as well, as the Open Interest gained another 3,079 more short contracts in order to supply liquidity, bringing the early morning total to 559,945 Overnighters.

      To add more reasons to the fear trading in the markets, the U.S. Mint is upping its coin production, after shortages of stamped coins have been reported in the U.S., and after purchases dropped off until the CCP19 bio got out. The second half of 2020, the Mint estimates an increase production to 1.2 billion coins in June and 1.35 billion coins per month for the rest of the year– which would add up to a projected total of 14.2 billion coins produced in 2020. This helps point out the idea that people are leaving the crime ridden investment arenas where the regulatory bodies are equally as guilty as the perpetrators, and as things start to heat up in the failed debt markets, which leads right to Currency Devaluations, which leads right to Precious Metals Rising, like they did in our emerging markets currency watch. 

      Here’s a good thread of closing thoughts that can only be answered in time; Is it possible the Ginormous Precious Metals Deliveries inside our July demand count, is the US mint itself? Is this proof their normal supply chain got disrupted because of a lab-designed-bio that shut down a world for 60 days? Demand is Demand, and the US Mint is required to meet the physical demands, and here we are.

      Nothing can stop this derailing train of debt vs. currencies vs. precious metals. Yet those that hold the physicals, have a much better chance of retaining their purchasing power, while the world observes how much has to be printed in order to pay off a debt, that has been piled high to a level of uncollectable.

      Stay positive no matter what, it’s food for the soul in times like these. Have a smile on your face and a prayer for all, and as always …

Stay Strong!

Jeremiah Johnson

More J.Johnson content is available with purchase of a JSMineset subscription.

Posted at 8:44 AM (CST) by & filed under USAWatchdog.com.

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Three time best-selling book author Nomi Prins says long before the Covid 19 crisis, the global economy was faltering big time.  The Fed stepped in with the start of massive money printing in late 2019 to save the day.  Prins explains, “We were already in crisis mode as I mentioned at the end of my last book going into 2019.  What did we see at the end of 2019?  We saw this pivot, and I call it phase two. . . . Central banks had pivoted to easing mode. . . . Come September, October, November and December, the Fed is producing repo operations.  Those are short-term lending operations that are supposed to be the purview of the banks . . . . The Fed is not supposed to get involved, but it did.  The Fed had all kinds of excuses.  It said it was not QE, but it was. . . . The debt at the end of 2019 for the world was three times GDP.  For every $3 borrowed, only $1 of economic activity occurred.  That’s what we started 2020 with.  Throw a pandemic into that . . . and you have a long drawn out financial and economic crisis.”

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Posted at 9:55 AM (CST) by & filed under In The News.

Bill Holter’s Commentary

Freedom of speech? Not so much anymore…

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Bill Holter’s Commentary

Of course young people today cannot answer simple questions about history…because their “ignorance” has been planned and actually taught for many years. Send your kid to a trade school and they graduate with a skill. Send them to college and they come back with mush for brains and incapable of performing simple logic. History shows the best way to destroy a society is to destroy its roots. The easiest way to do this is to teach fake history or none at all, and erase erase erase any remnants of history so not even questions will be asked. As the oath states, “all enemies foreign and domestic”, it looks like the domestic type are most dangerous in today’s world!

VIDEO: Young Americans know nothing about 4th of July
July 2, 2020

Ahead of the Fourth of July, Campus Reform spoke with young Americans to ask them basic questions about the nation’s founding.

Young Americans and students were asked by Digital Reporter Eduardo Neret what the holiday commemorates, which year the country declared independence, which nation the United States declared independence from, and what which was fought for American independence.

Many could not answer these questions. Some answered that America gained its independence in the 20th century, while others said the corresponding war was the Civil War, World War I, and even World War II.

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