Chinese Central Bank Governor Warns on China’s Growing Debt Pile

People’s Bank of China’s Governor warns of potential sharp correction and Minsky Moment.

Venezuela lets $1.7 billion gold swap with Deutsche Bank Lapse.

China Issues $2 billion in Dollar Denominated Bonds – 11X Oversubscribed.

China hopes its State Owned Enterprised US Dollar borrowing costs will be lowered.

China to purchase 24% of all Chinese residential real estate in 2017.

Continued Pump and Circumstance from the Gold Backed Yuan Crowd.

Video Commentary to “Chinese Central Bank Governor Warns on China’s Growing Debt Pile”

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Gold and silver.

Gold closed last week at $1280.00 an ounce and closed this week at $1273.20 -0.5%

Silver closed last week at $17.00 an ounce and closed this week at $16.84 -0.9%

The gold and silver ratio ended the week at 75.61:1

Gold Silver Ratio october 27 2017

Gold silver ratio 1975 - 2017 September 29

Gold and silver are not the same metals, they have different properties and different uses. Relative rarity is not the only determinate in arrive at price.

Silver is a spike and dive metal.

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Tweets of the Week


Venezuela loses approximately 1.3 million ounces or 40 tons of gold.

TREASON!

Governor of the People’s Bank of China, Zhou Xiaochuan:

“If there is too much pro-cyclical stimulus in an economy, fluctuations will be hugely amplified,” Zhou stated. “Too much exuberance when things are going well causes tensions to build up. That could lead to a sharp correction, and eventually to a so-called Minsky moment. That’s what we really must guard against.”

Yin Zhongqing, deputy director of the National People’s Congress finance and economics committee, said in a speech (in August):

“The real estate industry’s excessive prosperity has not only kidnapped local governments but also kidnapped financial institutions—restraining and even harming the development of the real economy, inflating asset bubbles and accumulating debt risk. The biggest problem currently facing the country is how to reduce reliance on real estate.”
Quote Source: World Socialist Web Site

Minsky moment- a sudden collapse of asset prices after an extended period of price appreciation caused by debt fueld speculation. At some point the debt growth exceeds the asset value growth and BOOM.


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Here are the stories we wrote, followed or commented on:

October 23, 2017

From Smaulgld.com

IT’S BEEN A YEAR SINCE PEOPLE’S BANK OF CHINA ADDED GOLD TO RESERVES

US Mint Sales Update

U.S. Mint reported selling 175,000 American Silver Eagles and 3,500 American Gold Eagles today.

MTD American Silver Eagles sold 925,000 & American Gold Eagles sold 10,000
YTD American Silver Eagles sold 16,823,500/American Gold Eagles sold 180,000

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

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The U.S. Mint reported selling 1,000 American Gold Buffalo coins.

MTD 4,500 sold

YTD 81,000 sold

Buy 90 Percent Junk Silver US Coins

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

Check out ATB mintages

October 24, 2017

From Smaulgld.com

US Economic Data

October 25, 2017

From Smaulgld.com

CHINA TO ISSUE U.S. DOLLAR BONDS WORTH $2 BILLION THIS WEEK

US Economic Data

October 26, 2017

From Smaulgld.com

US Mint Sales Update

U.S. Mint reported selling 75,000 American Silver Eagles and 0 American Gold Eagles today.

MTD American Silver Eagles sold 1,000,000 & American Gold Eagles sold 10,000
YTD American Silver Eagles sold 16,898,500/American Gold Eagles sold 180,000

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

Buy American Gold Eagle Coins

The U.S. Mint reported selling 1,000 American Gold Buffalo coins.

MTD 5,500 sold

YTD 82,000 sold

Buy 90 Percent Junk Silver US Coins

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

Check out ATB mintages

October 27, 2017

From Smaulgld.com

FORGET THE PETRO YUAN, HERE COMES THE DOLLAR BACKED YUAN!

October 28, 2017

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Compare American Silver Eagles for sale at:

BGASC.com
Golden Eagle Coins
SD Bullion
Money Metals Exchange

Buy American Silver Eagle Coins

Donate To Smaulgld.com via paypal

Buy American Gold Eagle Coins

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

Check out ATB mintages

Buy American Gold Eagle Coins

Buy 90 Percent Junk Silver US Coins

Compare American Silver Eagles for sale at:

BGASC.com
Golden Eagle Coins
SD Bullion
Money Metals Exchange

Buy American Silver Eagle Coins
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