In Case You Missed It – Week Ended January 30, 2016.
Stories from the week ended January 30, 2016.
The main stories of the week focused on Donald Trump skipping out on the Republican Presidential Primary Debate and more news regarding the FBI investigation into Hillary Clinton’s alleged inappropriate use of and treatment of sensitive government documents.
Sources claim the FBI has enough information to recommend that the Justice Department indict Ms. Clinton. The reason the Obama’s Justice Department might not go after Hillary is simple:
If what Hillary did was wrong, Obama himself may also be culpable for her violations.
The legal concept of “respondeat superior” (let the master answer) clearly would hold Obama responsible for Hillary’s breaches of security if he was aware of it.
Given the President almost certainly interacted with Ms. Clinton by email and received emails from her with screen names not coming from the .gov address (unless Hillary cleverly masked her email addresses-then add another charge to her growing pile) he would be aware that Ms. Clinton was conducting business on non government servers and allowed it to continue.
The big economic story of the week was Japan’s suprise announcement on Friday to institute negative interest rates. U.S. equities (Dow +396 pts/Nasdaq +107/S&P + 47) and the dollar had a strong day following the Japanese announcement.
Gold and silver
Gold closed last week at $1098.00 and closed this week at $1117.80
Silver closed last week at $14.00 and closed this week at $14.23
The gold and silver ratio ended the week at 78.5:1
Here are the stories we wrote, followed or commented on.
WE Missed it!
From the week ended January 23, 2015:
January 22, 2015
From Smaulgld.com we released a report on what impact the Fed’s interest rate might have on the real estate market. We have long noted that the real estate market along with the stock and job markets have been the basis for the support of the three legged proaganda stool that the economy is doing well.
What does the rate hike mean for real estate?
Foreign real estate buyers will be in short supply in 2016 if the dollar remains at current levels or appreciates:
The Canadian dollar has fallen 16% in a year vs. the U.S. dollar.
U.S. Mint Sales Update
The U.S. Mint sold 500,000 American Silver Eagles & 2,000 one ounce American Gold Eagles today.
YTD American Silver Eagles Sold 4,000,000/American Gold Eagles sold 52,500
January 23, 2016
India’s Gold Monetization Scheme
More than 900 kgs of gold mobilised under India’s monetisation scheme
I was interveiwed by Jason Burak of Wall Street For Main Street.
Smaulgld on Wall Street for Main Street
January 24, 2016
Russian Gold Mining Production vs. Reserves
We noted that as the Russian Rouble has declined, the Central Bank of Russia upped their purchases of its domestic gold mining production.
Gold is near all time highs vs the Russian Rouble
Bloomberg says Gold is back in fashion citing ETF flows and hedge fund positions
Indian Gold Monetization Scheme
Government to pay banks 2% commission for mobilizing gold under the gold monetization scheme
Indian government reiterates tax free interest on gold monetisation scheme
Indian temples reluctant to hand over the gold
1/10 Oz Canadian Maple Leaf Gold Coins
January 25, 20165
Bloomberg recognizes gold safe haevn demand
RBC Capital Markets CEO says gold can “easily go to $5000
Weak econonmy may drive gold demand The Russian Central Bank has been buying increasing amounts of gold from its own production in recent years.
Russia has been buying a greater percentage of its gold mining output as its economy worsens.
Treasure hunting for gold in Washington’s waterways causes conflict
CNBC carries a relatively positive gold story:
CNBC Gold and gold miners – Best Trade in the World?
Reuters Anti Gold Piece
Gold prospects are dull
Oil prices whipsaw rise on short covering cold spell, drop on supply glut
Australian copper miner OZ Minerala reports record copper production in 2015
African Central Banks
Currency crisis in Africa causes different responses
Remember Cyprus – Home of the Bail in?
The sale of Cyprus ports goes on quietly
US Economic Data
Dallas Fed -34.6, Exp. -14.5, Last -21.6
US Mint Sales
US Mint sold 727,000 American Silver Eagles & 3,000 one ounce American Gold Eagles today.
YTD American Silver Eagles Sold 5,727,000/American Gold Eagles sold 80,000
Buy 90% Junk Silver From BGASC.com
January 26, 2016
China maintains biggest market for spot gold trading
Chinese gold imports through Hong Kong jump to highest levels since 2013
Reuters runs a positive gold story!
Reuters recognizes gold appeal as equities slump
as does Marketwatch:
Marketwatch recognizes gold as safe haven due to credit risk
Kazakhstan increases its gold stash
War on Cash
Chase to Roll out new ATMs that don’t require cards
Cash is King as Europe adapts to negative interest rates Bank notes in cirulation in Europe increase.
Reuters Economic Propaganda
“U.S. consumer, housing data underscore economy’s resilience”
Apple Reports lower revennues cites “extreme conditions” “unlike anythng ever experienced before”
Plane travel New York to London in eleven miunutes
Russia and Saudi Arabia and OPEC in talks
January 27, 2016
Presidential Campaign 2016
Trump drops out of Fox Debate
Germany Updates Gold Repatriation Efforts
Gold discovered in Minnesota’s iron mining area?
U.S. Economic Data
New Home Sales December 544,000 (annualized ) +10.8%
Median New Home Price $288,900
MBA Mortgage application Purchases +4.6%; Refis +11.3%
Oil jumps on possibility of OPEC/Russian cooperation on output
Fed Rate Hike Decision
As expected, the Fed keept rates unchanged as well as their outlook.
U.S. Mint Sales Update:
US Mint sold 209,500 American Silver Eagles & 9,000 one ounce American Gold Eagles today.
YTD American Silver Eagles Sold 5,926,500/American Gold Eagles sold 89,000
Buy 2016 American Silver Eagle Coins
January 28, 2016
Russia: Saudi Arabia proposed up to 5% output cut in oil.
Saudi Arabia denies the report shortly thereafter.
Manipulation and Fraud
The Song Remains the Same: All Ex-Brokers Cleared in LIBOR rigging case
UK GDP grew a “steady” 0.5% in the fourth quarter of 2015
U.S. Economic Data
Pending existing home sales + 0.1%, Exp. +0.9%
Durable Goods -5.1%, Exp. -0.5% – because the “recovery”
Initial Jobless claims 278K Exp 285K prior 294K
Silver institute releases “trends for 2016”
London silver fix breaks
Details from SGT Report:
South Africa sees 32,000 mining job cuts
No more Shanghai Gold Exchange withdrawals numbers to be published
Here is our final Shangahi Gold Exchange report of 2015.
The Shanghai Gold Exchange had record withdrawals in 2015.
Bloomberg predicts PBOC will add over 200 tonnes of gold to reserves in 2016
Gold and Silver Manipulation
Research suggests manipulation
January 29, 2016
Russia says it won’t purpsely cut oil production
Russia holds rates at 11%
Negative Interest Rates
Japan cuts rates to negative
U.S. Economic Data
GDP fourth quarter 2015 1st estimate 0.7%
“But some of the impediments to growth – inventories and mild temperatures – are temporary and the economy is expected to snap back in the first quarter.”
Chicago PMI 55.6
Endeavour Silver announces production cuts
Kitco: 81% of retail gold investors are bullish according to Kitco
Gold Treasure Hunter Missing Searching for $2 Million in Gold
Bloomberg ends the week with a gold bashL
Bloomberg Warns on Gold
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