In Case You Missed It – Week Ended January 2, 2015.
Stories from the week ended January 2, 2015.
The main news stories were mostly economic ones revolving around a global slowdown and signs of one in the United States. President Obama is rumoured to be on the verge of issuing an executive order on gun control and a battle is brewing as Senator Rand Paul has introduced legislation to prevent such exeucitve orders without congressional approval.
The main economic news of the week was the U.S. economic data released that indicate strongly the country is headed towards a recession.
Gold and silver
Gold closed last week at $1076.30 and closed this week at $1061.00
Silver closed last week at $14.38 and closed this week at $13.82
Here are the stories we wrote, followed or commented on.
WE missed it! (from two weeks ago)
December 22 2015
Gold
Group plans to spend a million dollars promoting Ted Cruz and the gold standard in New Hampshire
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December 26, 2015
China
Chinese industrial profits fall for sixth consecutive month
Silver
A world silver council is coming to India
December 27, 2015
From Smaulgld.com
We discussed the Swiss initiative to ban fractional reserve banking and to replace it with a Swiss National Bank monopoly to create money. Another Sound Money Initiative from Switzerland
The Wealth Watchman gives it full treatment in Will The New Swiss Referendum Reign in the Banking Beast, or Create a New Monster?
Gold
Reuters around the world likes to stir up anti-gold sentiment. Here is Reuters Japan getting in on the act:
Reuters Japan reports on Chinese “gold woes”
Track Indian gold and silver imports here
Gold miners risking their lives to survive in Sudan
We’ve heard about the search for gold in outerspace and its use in space crafts, now there are reports of mining for gold deep below the ocean floor:
Mining the Ocean floor for gold
Last week we reported on Gold found at the tombs of the Marquis of Haihun State in China.
In this Daily Mail article we see some of the first photgraphs of the gold unearthed
Gold smuggling continues in India
CNN Money Trashes Ted Cruz’s gold standard
Buy 2015 American Silver Eagle Coins
December 28, 2015
U.S. Economic Data
Dallas Fed:
New Orders -8.9 vs -1.6
Growth Rate of Orders -14.3 vs -7.3
Consumer Spending “Solid”?
Mastercard says retail sales grew 7.9% during holiday season
December 29, 2015
Real Estate
While existing and new home sales remain far below their pre recession levels, home prices continue to climb
Case-Shiller 20-City Home Prices Index +5.54% Y/Y; Est. +5.60%
BRICS WOES
Brazilian Real Slumps -Down 30% this year vs dollar
Russian Rouble hits all time low, yet Russia continues its gold buying binge.
Russia continues to add to its gold hoard even as the Rouble collapses.
Putin angling to keep Assad in power in Syria
Buy 90% Junk Silver From BGASC.com
Oil
then gives up half of its gains as API reports surprise inventory build
Gold
Billionnaires bet on gold in 2016
U.S. Economic Data
Consumer confidence rises to 96.5 in December up from 92.6 in November
December 30, 2015
Puerto Rican Debt Default
Puerto Rico to default on some of its debt
#Gold doesnt pay interest.
Gold doesnt pay interest
Gold doesnt pay interest
Gold doesnt pay interest
Gold Doesn't Default
#PuertoRico
— Smaulgld (@Smaulgld) December 30, 2015
Real Estate
Former US Mint director: It’s time to kill the penny
December 31, 2015
From Smaulgld.com
We released the top 12 Smaulgld.com posts of 2015
U.S. Economic Data
Initial jobless claims 287K vs 270 exp
Chicago PMI 42.9 Exp 50.1 Prior 48.7
Slumps to lowest level since 2009
BUT Reuters manages to find praise for the Federal Reserve in the horrible number.
Citing an unattached “chief economist” “It lends weight to the Fed’s gradual approach to tightening, with the flexibility to change direction if needed.”
From Smaulgld.com
Gold
Shanghai Gold Exchange Withdrawals for the Week ended December 24, 2015
The Shanghai Gold Exchange extended its record year.
Gold
Gold ended the year down for the third consecutive year as did silver.
Rueters with more anti gold propaganda
Reuters: 2016 Looks Like Another Bad Year for Gold
On a lighter note:
Gold wrapped smokes also debut in Seattle:
Potent joint wrapped in 24-karat gold creates a buzz
December factory activity in China slumps-need more stimulus
January 1, 2016
Emerging Markets
Argentina declares a “statistical emergency” -said economic data not to be trusted, halts economic data releases.
Statistical emergency coming soon to the US? doubt it!
From Smaulgld.com
Gold
We published charts of gold vs world currencies in 2015:
2015 Gold Price in World Currencies
Argentines that held gold were probably happy when their government devalued the peso earlier this month:
gold vs the argentine peso
President Obama plans to impose gun control by executive order
Happy New Year!
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