S&P China downgrade to “upper medium grade” comes after Moody’s downgrade in May.
U.S. Says Venezuela Oil Embargo is an Option.Tesla Will Settle Charges That it Tried to Cheat the Government.
Trump criticizes NFL players for “Taking the Knee”
Tesla Will Settle Charges That it Tried to Cheat the Government.
Trump criticizes NFL players for “Taking the Knee”
Jamie Dimon Slams Bitcoin Again
Video Commentary to “This is Why China’s Credit Rating Was Downgraded
Watch on BITCHUTE
Also on VIDME
Also watch on You tube below
Top Stories:
The Chinese Debt Monster
China’s credit rating downgraded
S&P downgrades China’s credit rating, citing heavy debt load
S&P Long Term Ratings
AAA Prime Canada, Australia
AA+ High Grade United States
AA High Grade
AA- High Grade
A+ Upper medium grade China, Japan
A Upper medium grade
A- Upper medium grade
BBB+ Lower medium grade – Mexico
BBB Lower medium grade
BBB- Lower medium grade India
BB+ Non investment grade speculative Russia. South Africa
BB Non investment grade speculative Brazil
BB- Non investment grade speculative
B+ Highly speculative
B Highly speculative
B- Highly speculative Argentina
CCC+ Substantial risks
CCC Extremely speculative
CCC- Default imminent with little prospect of recovery Venezuela
CC Default imminent with little prospect of recovery
C Default imminent with little prospect of recovery
D In default
Bank of International Settlements: Chinese corporate debt was about 170% of GDP in 2016 up from 100% in 2008 and 2X, the average of other economies. The debt is mostly owed by state owned companies that also own assets.
Household and government debt bring debt to GDP to 260%!
But…they owe it to themselves.
Bloomberg:China’s total debt is now about two and a half times the size of its economy. Slowing growth will make it harder to service the debt load which is now 1/3 of GDP.
Moody’s downgraded China’s rating in May 2017 as did Fitch in 2013.
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Gold and silver.
Gold closed last week at $1319.50 an ounce and closed this week at $1297.00 -1.7%
Silver closed last week at $17.55 an ounce and closed this week at $16.98 -3.2%
The gold and silver ratio ended the week at 76.39:1
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Tweets of the Week
https://twitter.com/Smaulgld/status/909483048734949377
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https://twitter.com/Smaulgld/status/909777670883422210
https://twitter.com/Smaulgld/status/910138458651398144
https://twitter.com/Smaulgld/status/910141942045999104
https://twitter.com/Smaulgld/status/910140466250776576
https://twitter.com/Smaulgld/status/910155326841872384
https://twitter.com/Smaulgld/status/910158338897391616
https://twitter.com/Smaulgld/status/910235933273935872
Hugo Hopin and Prayin
https://twitter.com/Smaulgld/status/910549772624207877
https://twitter.com/Smaulgld/status/910874077727993856
https://twitter.com/Smaulgld/status/910876419948982273
https://twitter.com/Smaulgld/status/911236034737967104
https://twitter.com/Smaulgld/status/911006801809821698
https://twitter.com/Smaulgld/status/911277389430362112
SolarCity, which is now owned by Tesla, will pay $29.5 million to settle allegations that it tried to cheat the government DOJ says it overstated cost of installation of solar panels.
https://twitter.com/Smaulgld/status/911301770332311553
https://twitter.com/Smaulgld/status/911894982096818176
https://twitter.com/Smaulgld/status/911893103975464960
https://twitter.com/Smaulgld/status/911949363156590592
Anyone can kneel but few can debate
Here are the stories we wrote, followed or commented on:
September 18, 2017
From Smaulgld.com
CHINA RETAINS ITS PLACE AS THE TOP FOREIGN US TREASURY HOLDER – ADDS $107.6 BILLION IN 2017
September 19, 2017
Gold
Turkish Treasury sets eye on 2,200 tons of gold ‘kept under mattresses’
Gold may be kept out of future trade pacts
September 20, 2017
From Smaulgld.com
CENTRAL BANK OF RUSSIA CONTINUES ITS GOLD BUYING BINGE IN AUGUST
US Economic Data
MBA mortgage applications: -9.7%, Last +9.9%
– Purchases -10.8% vs +10.9% last
– Refis – 8.5% vs +8.9% last
US Mint Sales Update
U.S. Mint reported selling 50,000 American Silver Eagles and 2,000 American Gold Eagles today.
MTD American Silver Eagles sold 75,000 & American Gold Eagles sold 6,000
YTD American Silver Eagles sold 15,703,500/American Gold Eagles sold 168,000
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
BGASC.com
Golden Eagle Coins
SD Bullion
Money Metals Exchange
The U.S. Mint reported selling 1,500 American Gold Buffalo coins.
MTD 1,500 sold
YTD 76,500 sold
The U.S. Mint sold 0 of the first America the Beautiful Coin of 2017 today – the Effigy Mounds National Monument coin. YTD Effigy Mounds ATB coins 35,000. The US Mint sold 0 Frederick Douglas National Historical Site ATB coins and 0 of the Ozark National Scenic Riverways.
The US Mint sold 0 Ellis Island ATB coins today
Total YTD ATB coin sales 35,000 Effigy Mounds National Monument coins, 20,000 Frederick Douglas National Historical Site, 20,000 Ozark National Scenic Riverways ATB coins and 40,000 Ellis Island ATB coins. Total 115,000
September 21, 2017
From Smaulgld.com
U.S. Considers Venezuela Oil Embargo
US Economic Data
Initial Claims 259K, Exp. 302K
Philly Fed 23.8, Exp. 17.1, Last 18.9
Fed announces unwind of balance sheet of $10b per month, rate cuts to be used in first instance of easing rather than cessation of balance sheet unwind.
Cryptocurrencies
First Bitcoin-Only Real Estate Transaction Completed in Texas
Jamie Dimon faces market abuse report after his comments about bitcoin
September 22, 2017
Cryptocurrencies
Jamie Dimon trashes bitcoin again
Fed Chatter
Fed’s Williams sees calm market reaction to balance sheet unwind
US Economic Data
US Mfg PMI 53.0, Exp. 53.0, Last 52.8
US Services PMI 55.1, Exp. 55.9, Last 56.0
September 23, 2017
From Smaulgld.com
INDIAN SILVER IMPORTS MAY BE CURBED BY NEW INDIAN “KNOW YOUR CLIENT” RULES
ARE CRYPTO EXCHANGES ABOUT TO GO DE-CENTRALIZED?
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Compare American Silver Eagles for sale at:
BGASC.com
Golden Eagle Coins
SD Bullion
Money Metals Exchange
Donate To Smaulgld.com via paypal
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
BGASC.com
Golden Eagle Coins
SD Bullion
Money Metals Exchange
Compare American Silver Eagles for sale at:
BGASC.com
Golden Eagle Coins
SD Bullion
Money Metals Exchange
-----------------------------------------
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