In Case You Missed it Week Ended October 31, 2015.
Stories from the week ended October 31, 2015.
Bad economic news (the Wall Street Journal called it “brighter“) was released this week including big misses in new and pending home sales, tepid consumer spending and a sub par first estimate of 3rd quarter GDP.
Yet, the Federal Reserve open market committee statement released this week from October indicated the Fed is still considering raising interest rates at its next meeting in December subject to “further improvement in the labor market”.
Gold and silver sold off on the announcement. Stocks fell initially then recovered and rose; gold and silver did not and fell further.
Gold closed last week at $1177.70 and closed this week at $1141.70.
Silver closed last week at $16.03 and closed this week at $15.53.
Here are the stories we wrote, followed or commented on.
October 24, 2015
Gold/Silver
Overstock Chairman: We don’t trust banks, so we hold $10M of gold/silver outside banking system to pay employees.
We posted this video of a speech given by Overstock Chairman Johnathan Johnson on the daily “In Case You Missed It “section section of Smaulgld when it had just eight views. Later in the week, the video went viral mostly due to its appearance on Zerohedge the next day.
October 25, 2015
Gold
India’s Gold Monetization Scheme may be “ready in weeks“
Silver
From Smaulgld.com – JFK Favored Federal Reserve Notes and the De-Monetization of Silver
European Politics
Majority Portugese Anti-Euro Parties Denied Access to Government
Health
Bacon, Burgers to be classified as disease causing substances
Fed Research
St. Louis Fed: Nearly half of millennials live with their parents
October 26, 2015
U.S. Economic Data Releases
New Home Sales: 468K Exp 550K Prior 529K
Dallas Fed -12.7, Exp. -6.5, Last -9.5;
Gold
Indian Prime Minister pitches gold monetization scheme “Don’t let your gold be dead money”
Silver
MarketWatch- Silver prices don’t match massive demand
De-Dollarization
Bloomberg: If Yuan gets reserve status, China may pick up $1 trillion in reserve demand
Central Banks
Bank of Japan to buy more bonds
U.S. Economy
WSJ: U.S. companies warn of slowing economy, declining profits
Gold
Shanghai Gold Exchange headed for record
Bernanke Speaks
Bernanke: Governments too focused on budget cuts
October 27, 2015
Gold
India to sell gold coins through the World Gold Council may reduce dependence on imports
Foreign Policy
U.S. Economy
Debt ceiling to be raised again
CNBC 32% of Americans say the economy will get worse
US Plans to Sell Strategic Oil Reserves
Bakken oil companies go bankrupt
European Economy
Greece will miss October payment
Japanese Economy
Will the Bank of Japan add more stimulus to its economy?
Gold
Gold Demand Rises in Third Quarter
Gold imports From Hong Kong at 10 month high
U.K. Economy
IMF: Britain can live with high debt “forever”
October 28, 2015
De-Dollarization
Putin speaks out against U.S. dollar use
Odd News
103 year old bisquit from the Titanic sold for $23,000
European Economy
Swedish Central Bank expands its QE program
Bernanke Speaks
Bernanke warns on emerging markets risk
October Federal Open Market Committee Meeting (FOMC)
Gold and silver fall, stocks rally
Gold fell after the FOMC minutes were released.
Silver took a dive too.
Gold
Ted Cruz calls for gold standard during Republican Debate CNBC “analyzes”
October 29, 2015
U.S. Economic Data Releases
Pending home sales -2.3%, Exp. 1.0%
Third Quarter GP estimate 1.5% vs 1.6% est
Climate Change
Putin: Climate change is a fraud
Fed Interest Rate Hike
Smaulgld prediction all along is Fed would hike, do QE4 then go negative.
.@billyoblenis QE 4 Oct 2013 https://t.co/gXsPBWmcm4 Neg rates Oct 2013 https://t.co/mvG5PVVtAe pic.twitter.com/II4uegVACV
— Smaulgld (@Smaulgld) October 28, 2015
.@DaveVK2 @billyoblenis if Fed raises in DEC and the market crashes they have time to "fix " it and assign blame before Nov 2016
— Smaulgld (@Smaulgld) October 28, 2015
Chinese Yuan
Chinese Yuan Surges Most in a Decade
European Banks
Deutsche Bank reports massive loss/layoffs
U.S. Economic Data Releases
Initial jobless claims 260K v 265k
“Solid”? “Sturdy”? Sign of “strengthening labor market”? or no one left to fire
Gold
Gold down on Fed Rate hike belief
October 30, 2015
Gold
From Smaulgld.com Shanghai Gold Exchange Withdrawals for the Week Ended October 23, 2015
U.S. Economic Data Releases
Personal income uo 0.1% exp 0.2%
Consumer Sentiment 90.0 exp 92.5 prev 87.2
U.S. Banks
Big Banks Face $120 billion shortfall under new Fed rule
Climate Change
Bill Gates says only socialism can save us from climate change
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