San Francisco Fed President John Williams Tells High School Students Dollar is King.
Renewed Treasury Buying By the Chinese and Russians.
Platinum deficit projected by World Platinum Investment Council.
Deutsche Bank charged with being an international criminal organization.
COMEX Bitcoin futures market might be coming soon.
One Belt and Road update.
Former FBI Director James Comey at center of attention again.
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Top stories: A three month old Comey memo surfaced last week and was read by a Comey associate over the phone to the New York Times who then published it. The memo supposedly reveals that Donald Trump tried to dissuade Comey from pursing the Russian case, which could be viewed as obstruction of justice.
Issues: No one has seen the memo, (hearsay) or knows the identity of the “Comey associate, or the context in which the supposed conversation took place and it’s three months old!
18 U.S. Code § 4 – Misprision of felony
Whoever, having knowledge of the actual commission of a felony cognizable by a court of the United States, conceals and does not as soon as possible make known the same to some judge or other person in civil or military authority under the United States, shall be fined under this title or imprisoned not more than three years, or both.
A Comey associate ALSO had the memo so HE had knowledge of the supposed obstruction of justice and didn’t report it- rather he/she called the NY Times!
Then it was revealed that Comey told Congress in March that the Trump administration did NOT attempt to pressure the FBI to halt the Russia investigation.
https://twitter.com/Smaulgld/status/865021914628141058
Later in the week it was revealed that Trump called Comey a “nut job” on his meeting with the Russians.
Main stream media now talking openly about impeachment.
Gold and silver.
Gold closed last week at $1227.70 an ounce and closed this week at $1255.60 +2.3%
Silver closed last week at $16.44 an ounce and closed this week at $16.83 +2.4%
The gold and silver ratio ended the week at 74.6:1
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Tweets of the Week
Silver Gets Hit
https://twitter.com/Smaulgld/status/865035848315793410
Petro dollar
https://twitter.com/Smaulgld/status/866004048687902723
Charts of the Week
Here are the stories we wrote, followed or commented on.
May 15, 2017
Platinum
World Platinum Investment Council: Platinum projected to be in deficit.
BGASC.com
SD Bullion
Golden Eagle Coins
Gold firms, platinum surges on China’s renewed infrastructure pledge, North Korean test
Belt and Road
Who picks up the Trillion Dollar tab for the Belt and Road?
EU says investment deal with China urgent to support Belt and Road vision
Behind China’s Silk Road vision: cheap funds, heavy debt, growing risk
China is following the US path of credit creation, international use of the Yuan to export inflation. They don’t want to crash the US dollar as the US is their number 2 trading partner behind the EU. Belt and Road is NEW business. China’s holdings of US Treasuries have increased since January.
Gold
India’s Working With World Gold Council to Create a Spot Exchange
Men who stole $60,000 worth of gold while having a barbecue hit with $5,000 fines
Silver
Demonetization REDUCED silver demand in India
US Economic Data
Empire Fed -1, Exp. 7.5
NAHB Housing Market Index 70, Exp. 68, Last 68
Fed Chatter
May 16, 2017
From Smaulgld.com
THE WORLD’S FIRST RESERVE CURRENCY – PIECES OF EIGHT
Gold
Indian Government Gold Schemes Fail To Attract People
Kalgoorlie man ‘stole’ $200k worth of gold from mine site
Gold shines: on reducing India’s demand for gold
GST Rate to Determine Fate of Indian Gold Trade
Digital gold sales picking up, says Paytm
Silver
Nanowires made from silver are super stretchy
US Economic Data
Industrial Production 1.0%, Exp. 0.4%
Housing Starts 1.172MM, Exp. 1.260MM
Housing Permits 1.229MM, Exp. 1.270MM
Atlanta Fed Latest Q2 forecast:4.1% from 3.6 percent — May 16, 2017
U.S. Mint Sales Update
U.S. Mint reported selling 505,000 American Silver Eagles and 2,500 American Gold Eagles today.
MTD American Silver Eagles sold 1,560,000 & American Gold Eagles sold 5,500
YTD American Silver Eagles sold 10,352,500/American Gold Eagles sold 132,500
The U.S. Mint reported selling 2,000 American Gold Buffalo coins.
MTD 4,000 sold
YTD 63,000 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 21,200. The US Mint sold 0 Frederick Douglas National Historical Site ATB coins.
Total YTD ATB coin sales 21,200 Effigy Mounds National Monument coin and 20,000 Frederick Douglas National Historical Site ATB coins. Total 41,200
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May 17, 2017
US Economic Data
Initial Claims 232K, Exp. 240K
Philly Fed 38.8, Exp. 18.5
Deutsche Bank Woes Deepen in Monte Paschi Fraud Case
May 18, 2017
Smaulgld.com
WHY DO BULLION DEALERS TRASH NUMISMATICS?
SMAULGLD LAUNCHES SMAULGLD SUBSCRIBERS SOUND OFF SERIES (first three interview)
Two more:
De-Dollarization
Argentina to join AIIB: Argentinean FM
US Economic Data
Gold
Commerzbank to close physical precious metals business – source
Silver
Trump silver rounds from BGASC.com
May 19, 2017
From Smaulgld.com
Gold
Price recovery dampens Asian gold demand
Gold Production in ‘Silver State’ Increases in 2016
Silver
Nanophysics: Saving energy with a spot of silver
Fed Chatter
Fed’s Bullard questions need for June rate hike http://on.mktw.net/2rly13F
BULLARD: FED’S CONTEMPLATED RATE PATH MAY BE OVERLY AGGRESSIVE
BULLARD: FED SHOULD SHRINK BALANCE SHEET TO GAIN POLICY SPACE
Fed’s Williams: Dollar still global king, gold irrelevant to monetary policy
U.S. Mint Sales Update
U.S. Mint reported selling 0 American Silver Eagles and 500 American Gold Eagles today.
MTD American Silver Eagles sold 1,560,000 & American Gold Eagles sold 6,000
YTD American Silver Eagles sold 10,352,500/American Gold Eagles sold 133,000
The U.S. Mint reported selling 500 American Gold Buffalo coins.
MTD 4,500 sold
YTD 63,500 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 21,200. The US Mint sold 0 Frederick Douglas National Historical Site ATB coins.
Total YTD ATB coin sales 21,200 Effigy Mounds National Monument coin and 20,000 Frederick Douglas National Historical Site ATB coins. Total 41,200
May 20, 2017
From Smaulgld.com
RUSSIAN HOLDINGS OF U.S. TREASURIES SURGE TO 28 MONTH HIGH
Fed Chatter
SF. Fed President John Williams at El Camino High School in South San Francisco:
Fed’s Williams: Dollar still global king, gold irrelevant to monetary policy
“Without credit, a modern economy doesn’t work”
Will gold be required for confidence in monetary system? Think Mark Dice videos where he tries to GIVE AWAY a 10 ounce silver bar or sell a one ounce gold coin for 10X less than its worth. If people don’t know the value of gold and silver, how can it give confidence?
Bitcoin
Tax ruling: bitcoin is a commodity.
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Compare American Silver Eagles for sale at:
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Golden Eagle Coins
SD Bullion
Money Metals Exchange
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You can compare pricing and shipping charges on American Gold Eagles coins of all sizes at these web sites:
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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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