In The News Today

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Bill Holter’s Commentary

Say it isn’t so?

CROWDSTRIKEGATE: A Massive Deep State Scandal That Will Collapse The Democrat Party
October 17, 2019

“The impeachment hoax was initiated because of Trump’s determination to fully expose CROWDSTRIKEgate.

That radioactive scandal perpetrated by CrowdStrike and the DNC leadership is so dangerous to the Democrat Party they desperately started the impeachment inquiry. Now Trump really wants that epic fraud investigated because his presidency depends upon it.”

— Intelligence Analyst & Former U.S. Military Officer


Bill Holter’s Commentary

COMEX competition…

China, Russia, BRICS And Now UAE: Everybody Wants A Gold Trading Platform!
October 15, 2019

This article was written by Rory Hall and originally published at The Daily Coin

China started something when they opened the Shanghai Gold Exchange where physical gold is traded to a global market. Russia began trading gold futures on the Moscow Exchange which was followed by China and Russia announcing they would open the BRICS Gold Exchange to assist the other members of the BRICS alliance to acquire more gold. This was followed by India stating they would be pursuing a gold spot exchange market and next up is the United Arab Emirates (UAE) announcing they, too, are going to open a physical gold trading platform. WOW! That’s a lot of physical gold changing hands on a daily, weekly, monthly and yearly basis.

This is all pointing towards what seems to be a likely conclusion – a new gold pricing mechanism that is operated by the Shanghai Gold Exchange instead of COMEX in Chicago and New York or the LBMA in London.

    It seems that slowly and surely, the major gold producing nations of Russia, China and other BRICS nations are becoming tired of the dominance of an international gold price which is determined in a synthetic trading environment which has very little to do with the physical gold market.


Bill Holter’s Commentary

Detour is gobbled up.

Kirkland Lake Gold To Buy Detour Gold Corp. For $4.9 Billion
November 25, 2019

Nov 25, 2019 ( via COMTEX) — A big deal has been announced in the gold mining industry.

Canada’s Kirkland Lake Gold Ltd. (KL) as agreed to buy Detour Gold Corp. (DGC) for $4.9 billion, furthering a mergers and acquisition trend in the gold mining sector.

With an all-share deal, Kirkland will take advantage of a record stock price to acquire the company, which operates the Detour Lake mine in northeastern Ontario. The agreement values Detour at $27.50 a share, a 24% premium to the closing price last Friday.

Other big deals to take place in the gold mining sector over the last year include Newmont Mining Corp.’s acquisition of Goldcorp Inc. (NEM) and Barrick Gold Corp.’s (ABX) takeover of Randgold Resources Ltd.

Detour shareholders will receive 0.43 share of Kirkland, according to the statement. After the deal is completed, existing Kirkland shareholders will own 73% of the new company. Kirkland’s stock price has surged in the past three years, climbing more than 800% on soaring profits.


Bill Holter’s Commentary

Um, we think a gold backed yuan might go a long way to create confidence…but not with gold at current prices?

Second Bank Run In Two Weeks As China’s Banks Are Caught In A Self-Destructive “Doom Loop”
November 26, 2019

Three weeks ago we reported that China’s Henan Yichuan Rural Commercial Bank, just outside the central Chinese city of Luoyang, was the latest small-to-medium Chinese bank to suffer a vicious bank run as long lines of depositors filled out its branches demanding their money, amid a rumor that the bank was going under. The bank was at least the fourth to be on the verge of collapse after recent prior nationalizations of Baoshang Bank ,Bank of Jinzhou, and most recently, China’s Heng Feng Bank.

Now yet another Chinese bank has found itself scrambling to prevent a collapse: Yingkou Coastal Bank was forced to stack bundles of yuan notes high behind the counters of its branches earlier this month, as the northeast China lender fought off a run on deposits while onsite government officials battled rumors of a funding crunch.

As Reuters reports, Yingkou was the latest small bank to have its deposit-reliant funding base undermined by a flash mob of “running” depositors, spooked by the funding crunch that led to the shock state-led rescue of regional lender Baoshang Bank first which in turn prompted a cascade of small bank bailouts.

To avoid an almost instant death, Yingkou had no choice but to engage in what we have hence dubbed a self-destructive “doom loop: to help repair the damage and to keep the deposits from being pulled, the bank hiked its already high deposit interest rates to entice depositors. Alas by doing so, the bank – which can not possibly find investing opportunities to offset the higher deposit rates – has just accelerated its eventual insolvency.