In Case You Missed It
Stories from the week ended August 22, 2015.
Starting on August 16, 2015, Smaulgld.com instituted a “In Case You Missed it” feature.
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In case you missed it… here are last week’s stories:
August 21, 2015
The U.S. stock markets plunged on Thursday August 20 and fell further today.
Dow, Nasqaq Plunge 3%+
The main stream media reaction to the U.S. market plunge: it’s caused by global growth worries. We and others on twitter disagree!
Economic Policy Journal‘s Robert Wenzel provided us with this tasty morsal of economic ineptitude:
$30 for a Pizza? Sure, if you want to support “pizza sustainably served” by employees paid $25 an hour in the San Francisco Bay area
We hear echoes of this economically illiterate “$70,000 minimum wage” employer mistake also brought to our attention by Mr. Wenzel.
The Shanghai Gold Exchange had another big week, with withdrawals of 65 tons. The volume on the Shanghai Gold Exchance is 31% higher than last year and running at a record pace.
August 20, 2015
Stocks Slammed – CNBC Tries Hand at Writing Gloom Headline: “Markets Ride Wave of Global Meltdown Fears”
Dumbest Trade of the 21st Century? Record Shorts in Gold
Reuters Talks Up The Economy: “Brighten Economic Outlook/Fresh Signs of Steady Economic Growth”
August 20: The U.S. Mint Sold 3,500 one oz. American Gold Eagles today/No Silver Eagles. MTD Gold Eagle Sales 22,000; MTD Silver Eagle Sales: 3,367,500
Greek Prime Minister Tsipras Resigns
North and South Korea exchange artillery fire
Deutsche Bank to resign as London bullion clearer
From our friends at the Daily Coin, this audio interview China: The Real Global Power – Alasdair Macleod of Gold Money
Russia reported an update to their gold reserves today:
Russia Grows Gold Reserves By 400,000 ounces in July.
August 19, 2015
Greenspan Warns of Bond Market Bubble
From Greg Hunter’s USA Watchdog: Beginning of a Breakdown in International Trade-Hugo Salinas Price
The U.S. Mint Sold 85,000 American Silver Eagles today. Month to date sales 3,367,500. Month to date one ounce American Gold Eagle sales 18,500.
Wealth Watchman: Silver Will Slice Through “Deflation”, Like a Hot Knife Through Butter
Fed minutes reveal reluctance to raise interest rates just yet even in light of “solid” economic progress.
St. Louis Fed Admits QE did not boost the economy.
We commented on the elevated American Silver Eagle premiums and provided an analysis that explained this phenomena beyond the typical incessently reported “silver shortage” explanations.
This article was reproduced in the SGT Report.
August 18, 2015
The U.S. Mint Sold 250,000 American Silver Eagles today. Month to date sales 3,282,500. Month to date one ounce American Gold Eagle sales 18,500
Surprise! Citi Lowers Gold Forcast for 2015/2016
Jason Burack of Wall Street For Main Street Discusses Silver with The Doc
We reported on the Treasury Department’s update on foreign holdings of U.S. Treasury Bonds for June:
Russia and China Add to Their U.S. Treasury Holdings in June
August 17, 2015
Foreign Holdings of U.S. Treasury Securities up in June
August 17: The U.S. Mint Sold 852,000 American Silver Eagles today. Month to date sales 3,032,500.
Gold Holds Weekly Advance as Emerging Markets Spur Haven Demand
We requested a list of American Silver and Gold Eagle Authorized Purchasers from the U.S. Mint. We were told they could not provide it. Our email exchange with the U.S. Mint was reproduced in this blog post which was referenced by Ted Butler and Ed Steer in their newsletters this week:
WHO ARE THE U.S. MINT’S AUTHORIZED PURCHASERS OF AMERICAN GOLD AND SILVER EAGLE COINS?
August 16, 2015
Bears Missed Gold’s Best Rally Since June As Analysts See Declines
What is Gold Worth and Why You Shouldn’t Worry
Away From Dollar: Russia, China to Create Entirely Different Gold Market