Loading ...Ororeef @ 11:05
“End the Fed”
Sounds like a great idea to me. They’ve harmed the US much more than helped it. Look at how much of our GDP is given over to those who manipulate paper. Look at how rich and powerful the banks have become … and how impoverished the real economy has become. Too few people realize how destructive the Fed is.
Cheers
Moriarty
NFG’s Keats Zone Compares Favorably with KL Swan Zone
http://www.321gold.com/editorials/moriarty/moriarty102920.html
ipso facto @ 9:25 on October 29, 2020
You are Exactly right ! That will be the only way to create inflation in this environment .just be careful what you ask for ,you might get it…! The real answer is to stop politicians from interfering in the Price discovery mechanism . END the FED. They have made such a mess tinkering in the economy trying to please political groups that want special preferences because they got the votes .
You cant vote prosperity ,you create the proper incentives and it will happen as the public reacts over time.Its currently like someone who drives a car with one foot on the gas and the other on the brake.Its bad for the mileage and the brakes. Think ahead and plan ahead sometimes coasting is the better judgement. Stop the “DO SOMETHING MENTALITY”…DO nothing when things calm down .but thats not where we are now… Raise the GOLD PRICE FIRST to correct depression. Rooseveldt had the right idea 1933 raising the Gold price ,but he let the BANKERS talk him into not doing it enough ,and the depression dragged on . He let The Bankers talk him into not raising it enough and we got the Depression until a WAR ended the contraction of the money supply.When the DOLLAR is KING,your in a Depression. The Dollar should not be the Store of Value ,it should be a means of distribution to facilitate commerce .Gold is the STORE of VALUE . The BANKERS have a Conflict of Interest when THEY manage money supply. The Treasury should do it under the Presidents direction ..not a CABAL of BANKERS called the FED.
Trump is right to send money directly to the business and public that need it ,don’t send it to the BANKS they have a conflict of interest. ,they wont distribute it where its needed.
Maddog
Crazy! Like teenagers living at home before they encounter the real world.
Maybe they’ll vote to secede and then they can pay for their stupidities themselves.
Cheers
ipso facto
Scotland is a special place, they think they are an independent state, but in truth the English pay for their existence, we send them a huge amount of money, so they don’t have to raise revenue to pay for all their mad schemes…they live in Lalaland.
So they keep electing politicians, that give hand outs to the feckless, who in turn vote for them….
If asked the English would tell them to ‘eff off and pay for yr way of life….
buygold
I see what u mean about yr SC and votes…..I cannot be certain, but what I see and hear is the Donald is heading for a Landslide vote……any large amount of ‘late’ postal votes are going to look v odd.
But why u can have 9 days is madness,
Good to see the General go ape on good earnings…..that IS different.
Morning Buygold
I’m ready for the reversal! This downturn has already gone on longer than I thought it would. (as usual)
Alamos Gold is a stud! Too bad I never pulled the trigger.
Silver stocks showing some strength this morning.
Cheers
Some politicians need to be booted out on their ass
Scottish Hate Crime Bill Would Criminalize Offensive Dinner Table Conversations
Scotland’s new odious hate crime bill would go so far as to criminalize dinner table conversations if their ‘offensive’ content is reported to police.
Such conversations were previously protected under the Public Order Act 1986, which includes a “dwelling defense” that shields conversations that take place in private homes from being prosecuted, however that would be removed under the new law.
The new bill would add an additional crime of “stirring up hate” against a protected group by “behaving in a threatening or abusive manner, or communicating threatening or abusive material to another person,” as well as the crime of possessing “inflammatory material.”
Critics have argued that the vague term “stirring up hate” could be broadly interpreted and could lead to people like JK Rowling facing criminal charges and up to seven years in prison for expressing views about transgender issues.
It also has dire implications for comedy and freedom of speech, given that anyone could choose to take offense to anything and complain that they have experienced “hate.”
Justice Secretary Humza Yousaf said journalists, writers and theater directors could also be dragged into the courts if their work is deemed to have stirred up “prejudice.”
To get an idea of Yousaf’s mentality, he previously gave a speech to the Scottish Parliament in which he complained that the vast majority of senior positions in Scottish authorities were filled by white people.
Demographically, Scotland is 96% white.
Morning Ipso
Looks like Alamos – AGI – is getting a nice reaction to their earnings as you predicted.
| 12:12 pm ET |
*Alamos Gold shares are trading higher after the company reported better-than-expected Q3 EPS and sales results.
|
| Benzinga |
Definitely need a reversal of fortunes. Stock market is clearly worried about something.
Hopefully that will invite some folks into the metals.
FWIW
Bob Moriarty:
Just an interesting aside for those considering cutting their wrists after Wednesday’s decline, the DSI for gold is 19 and for silver 17. I would like to see both go down to 10 or below. Saturday is a full moon. I may not get my wish. We are near a bottom.
The Golden Solution To America’s Debt Crisis
snip
For elites, there is really only one way out at this point is, and that’s inflation.
And they’re right on one point. Tax cuts won’t do it, structural changes to the economy wouldn’t do it. Both would help if done properly, but the problem is simply far too large.
There’s only one solution left, inflation.
Now, the Fed printed trillions over the past several years, and trillions more over the past several months. But we’ve barely had any inflation at all.
Most of the new money was given by the Fed to the banks, who turned around and parked it on deposit at the Fed to gain interest. The money never made it out into the economy, where it would produce inflation.
The bottom line is that not even money printing has worked to get inflation moving.
Is there anything left in the bag of tricks?
There is actually.
The Fed could actually cause inflation in about 15 minutes if it used it. How?
The Fed can call a board meeting, vote on a new policy, walk outside and announce to the world that effective immediately, the price of gold is $5,000 per ounce.
They could make that new price stick by using the Treasury’s gold in Fort Knox and the major U.S. bank gold dealers to conduct “open market operations” in gold.
They will be a buyer if the price hits $4,950 per ounce or less and a seller if the price hits $5,050 per ounce or higher. They will print money when they buy and reduce the money supply when they sell via the banks.
The Fed would target the gold price rather than interest rates.
The point is to cause a generalized increase in the price level. A rise in the price of gold from $1,900 per ounce to $5,000 per ounce is a massive devaluation of the dollar when measured in the quantity of gold that one dollar can buy.
There it is — massive inflation in 15 minutes: the time it takes to vote on the new policy.
Don’t think this is possible? It’s happened in the U.S. twice in the past 80 years.
https://www.zerohedge.com/markets/golden-solution-americas-debt-crisis
Novo Resources
Field Trial Preparatory Testwork at Steinert Perth Recovers Significant Gold From Previously Untested Fines Fraction
https://finance.yahoo.com/news/field-trial-preparatory-testwork-steinert-115100227.html
Buygold
“We need a reversal today…”
Geez I hope so! Yesterday was a real clobbering. I feel like I went 10 rounds with Muhammad Ali.
Torex Gold Reports Positive Drill Results From the 2020 Exploration Program at ELG Underground
https://finance.yahoo.com/news/torex-gold-reports-positive-drill-100000808.html
OceanaGold Reports Third Quarter 2020 Financial and Operational Results
https://finance.yahoo.com/news/chartwell-provides-business-related-covid-210000292.html
Corvus Gold’s New Oxide Discovery at the Lynnda Strip Drills 106.7 Metres @ 0.71 g/t Gold and 48.8 Metres @ 0.9 g/t Gold and Identifies a Potential Connected System 700 Metres West
https://finance.yahoo.com/news/corvus-gold-oxide-discovery-lynnda-110000493.html
Gold Standard Expands Near-Surface Oxide Gold Mineralization at the LT Discovery
https://finance.yahoo.com/news/gold-standard-expands-near-surface-110000888.html
Spike down
We need a reversal today…
GDP coming out, USD strong, hoping we get a final spike in gold and silver so this 3 month correction can finally end.
Really don’t want to see tax loss selling into the end of the year.
33.1% GDP growth – yikes, we’ll see what happens
