Congressman Patrick McHenry (Vice Chairman Committee on Financial Service) Letter To Fed Chair Janet Yellen: Stop Federal Reserve Participation in International Forums on Financial Regulation.
Letter states Fed participation in international forums on financial regulation must cease.
Congressman calls on secretive prior agreements with The Financial Stability Board, The Basel Committee on Banking and Supervision and the International Association of Insurance Supervisors to be reevaluated.
Trump widens his battle the media, courts and certain corporations.
Silver Rises For the Fifth Week in a Row.
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Fed Under Scrutiny
Congressman Patrick McHenry sent a letter to Fed Chair Janet Yellen calling for withdrawal from all future discussions and negotiations with international financial regulatory bodies. The Vice Chairman Committee on Financial Service also called for a review of prior agreements with such organizations. Mr. McHenry invoked Trump’s “America First” principles as the rational for his call to cease participation in international financial regulatory organization negotiations.
You Tube Notes to this report
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Trump McHenry Alliance?
Patrick McHenry’s call for the Fed to withdraw from international regulatory organizations may find a willing ally in President Trump as American agreements with international financial regulatory bodies may conflict and or restrict U.S. banks from engaging in practices deemed beneficial for the United States. Trump to date has focused on trade deals that he believes are not in the best interest of the United States, but has not to date mentioned international banking agreements.
See also TRUMP v. YELLEN
Top stories: Trump continues his battle with the mainstream media, the courts (over turning his immigration ban) and recalcitrant corporations opposed to his ban like Starbucks, Amazon, Google, Lyft and Facebook.
The Immigration ban drew a swift response from Silicon Valley Companies.
Some headlines:
Amazon Is Working With Lawmakers to Counter Trump’s Immigration Order
Starbucks Plans to Hire 10,000 Refugees
Lyft Pledges $1 Million to ACLU
Google co-founder Sergey Brin joins protesters at SFO
Goldman CEO takes lead on Wall Street in slamming Trump travel ban
Facebook COO Sheryl Sandberg- [the ban] def[ies] the heart and values that define the best of our nation
Trump’s Predicted Response
Trump’s political enemies consist mostly of those who earn their livelihoods in Silicon Valley, the media, government employment and financial services. Trump has already ordered a broad hiring freeze on government workers. Are cuts next?
WHAT WILL TRUMP DO IF THE MARKET CRASHES? (X22 Spotlight interview)
TRUMP’S INDUSTRIALIZATION VS FINANCIALIZATION
WHY THE STOCK MARKET MAY FINALLY CORRECT AND QE4 WON’T HAPPEN
WILL DONALD TRUMP CRASH THE DOLLAR? (From Think the Fed Destroyed the Dollar?)
Top economic story of the week: Silver rises for the fifth week in a row, gold also rises.
Gold and silver.
Gold closed last week at $1191.30 an ounce and closed this week at $1219.50 up 2.4%
Silver closed last week at $17.12 an ounce and closed this week at $17.49 up 2.2%
The gold and silver ratio ended the week at 69.73:1
Charts of the week
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Here are the stories we wrote, followed or commented on.
January 30, 2017
Gold
Time to come out with comprehensive gold policy: India Reserve Bank Governor
Another Paper Gold Product- A new way for gold bugs to cash in on a strong dollar
U.S. Mint Sales Update
U.S. Mint reported selling 80,000 American Silver Eagles and 3,000 American Gold Eagles today.
MTD American Silver Eagles sold 4,977,500 & American Gold Eagles sold 83,000
YTD American Silver Eagles Sold 4,9777,500/American Gold Eagles sold 83,000
Compare American Silver Eagles for sale at:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000
The U.S. Mint reported selling 1,000 American Gold Buffalo coins.
MTD 31,500 sold
YTD 31,500 sold
The U.S. Mint will issue its first America the Beautiful Coin of 2017 in February – the Effigy Mounds National Monument coin.
You can compare American Gold Buffalo coins for sale at these websites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
US Economic Data
Personal Spending 0.5%, Exp. 0.5%
Personal Income 0.3%, Exp. 0.4%
January 31, 2017
Gold
India’s Gold monetisation policy not working, needs changes: IIM-A
ROYAL MINT CEO: More people are turning their cash into gold to escape political risk
Donald Trump’s Fixation with Gold
Platinum
US Economic Data
Case Shiller 20-City Composite 5.3% Y/Y, Exp. 5.1%
Chicago PMI 50.3, Exp. 55.0, Last 54.6
U.S. Mint Sales Update
De-Dollarization
Iran Accelerates De-Dollarization in Response to Trump’s Immigration Ban
U.S. Mint Sales Update
U.S. Mint reported selling 150,000 American Silver Eagles and 3,500 American Gold Eagles today.
MTD American Silver Eagles sold 5,127,500 & American Gold Eagles sold 86,500
YTD American Silver Eagles Sold 5,127,500/American Gold Eagles sold 86,500
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000
The U.S. Mint reported selling 500 American Gold Buffalo coins.
MTD 32,000 sold
YTD 32,000 sold
The U.S. Mint will issue its first America the Beautiful Coin of 2017 in February – the Effigy Mounds National Monument coin.
You can compare American Gold Buffalo coins for sale at these websites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
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February 1, 2017
From Smaulgld.com
U.S. MINT POSTS STRONG AMERICAN SILVER EAGLE SALES IN JANUARY
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KAZAKHSTAN ADDS 36 TONS OF GOLD TO RESERVES IN 2016
Compare Pricing and Shipping on 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
JM Bullion
Money Metals Exchange
Gold
Gold trading in Hong Kong sees positive debut for Year of the Rooster
Trump Policies, Comments Send Investors Rushing Into Gold
Silver
US Economic Data
ADP Private Payrolls 246K, Exp. 165K
MBA Mortgage Applications -3.2%, Last +4.0%
Purchases -5.6%, Last +6.0%
Refis -1.4%, Last +0.2%
De-Dollarization
Iran to dump the US dollar in response to Trump’s travel ban
Compare American Silver Eagles for sale at:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
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Februry 2, 2017
From Smaulgld.com
JP MORGAN SILVER MANIPULATION CASE DISMISSAL OVERRULED
Gold
February 3, 2017
Gold
US Economic Data
Nonfarm Payrolls Jan. 227K, Exp. 175K
Average Hourly Earnings 0.1%, Exp. 0.3%, Last revised to 0.2%
Factory Orders 1.3%, Exp. 1.0%, Last -2.4%
Non-mfg ISM Jan. 56.5, Exp. 57.0
Markit Services PMI Jan Final 55.6, Flash 55.1
Fed Chatter
FED’S EVANS EXPECTS INFLATION TO RISE TO 2 PCT BY 2019, DOWNSIDE RISKS REMAIN
sees fiscal boost to US growth, wants slow rate hikes
U.S. Mint Sales Update
U.S. Mint reported selling 0 American Silver Eagles and 1,500 American Gold Eagles today.
MTD American Silver Eagles sold 0 & American Gold Eagles sold 1,500
YTD American Silver Eagles Sold 5,127,500/American Gold Eagles sold 88,000
You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000
The U.S. Mint reported selling 2,500 American Gold Buffalo coins.
MTD 2,500 sold
YTD 34,500 sold
The U.S. Mint will issue its first America the Beautiful Coin of 2017 in February – the Effigy Mounds National Monument coin.
You can compare American Gold Buffalo coins for sale at these websites:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
Donate To Smaulgld.com via paypal
Donate To Smaulgld.com via paypal
February 4, 2017
From Smaulgld.com
U.S.MINT REPORTS ELEVATED AMERICAN GOLD EAGLE SALES IN JANUARY
SILVER SALES AT THE PERTH MINT SPIKE 186% IN JANUARY
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