The Fed Launches Another Interest Rate Big Yack Attack.
The Most Talked About Rate Hike in History; When jawboning isn’t enough.Yellen discusses possibility of The Fed Buying Stocks.
Yellen discusses possibility of The Fed Buying Stocks.
What does it mean for gold?
Yellen attacked on Capitol Hill for being politcal.
Trump attacks Fed’s independence during the debates.
CNN Counters: Fed IS independent.
Gold sales surge, silver sales flat.
European Banks in Trouble
Top Gold And Silver Stories from the week ended October 1, 2016.
The top story of the week- Debates
While trump may have been on the defensive in matters that don’t matter- 1972 lawsuit, calling a woman fat twenty years ago, he hit clinton on the deletion of 33,000 emails.
Top economic stories of the week: Deutsche Bank, Fed chatter re interest rates and equity purchases.
Click here to see the Smaulgld commentary video to this report below.
Not a Smaulgld subscriber? Sign up here.
Gold and silver
Gold closed last week at $1337.10 and closed this week at $1315.80 (-1.6%)
Silver closed last week at $19.67 closed this week at $19.15 (-2.6%)
The gold and silver ratio ended the week at 68.72: 1 to
Chart of the Week
Silver ETF demand has soared in 2016.
Learn More About the American Silver Eagle
Compare American Silver Eagles for sale at:
BGASC.com
Golden Eagle Coins
JM Bullion
Money Metals Exchange
You Tube Notes to this report
Check out all the Smaulgld podcasts here.
Please consider making a small donation to Smaulgld.com. Thanks!
Sign Up For Smaulgld.com Updates Here!
Here are the stories we wrote, followed or commented on.
September 26, 2016
De-Dollarization
Bloomberg: Biggest buyers of US Treasuries are selling like never before
How Russia’s Central Bank Held the Line
US Plans another series of Dollar Coins
US Economic Data
Dallas Fed Manufacturing Business Index: -3.7 (September) vs -6.2
New Home Sales 609K, Exp. 600K
September 27, 2016
From Smaulgld.com
Gold
Russia’s Sberbank CIB becomes member of Shanghai Gold Exchange
Gold Mining Hits Record Death Toll in South Africa
Gold Price Hits Record High… In Burma
Gold Lower as Trump Presidency Seems Less Likely After Debate
EVEN THOUGH nearly all polls show he won!
De-Dollarization
UAE-China trade receives fresh momentum “Direct Yuan Trading”
US Economic Data
Markit Service PMI 51.9, Exp. 51.1
Richmond Fed’s Sept. Manufacturing Survey at -8 vs Est. -2
Consumer Confidence 104.1, Exp. 99, Last 101.1
Case Shiller 20 City Composite 5%, Exp. 5.1%
Grocery Prices are plunging! Supermarket staples are incredibly cheap right now
How did Roman coins from the fourth century get to a castle in Japan?
Fed Chatter
Fed Vice Chairman Urges diversity
Why Yellen may quit if Trump wins
U.S. Mint Sales Update
U.S. Mint reported selling 295,000 American Silver Eaglesand 9,500 American Gold Eagles today.
MTD American Silver Eagles sold 1,600,000 & American Gold Eagles sold 64,500
YTD American Silver Eagles Sold 30,500,500 /American Gold Eagles sold 550,500
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000 American Platinum Eagle coins sold.
The U.S. Mint reported selling 1,500 American Gold Buffalo coins.
MTD 14,500 sold
YTD 146.000 sold
The U.S. Mint Reported selling (-500) Theodore Roosevelt National Park five ounce silver America The Beautiful Coins.
YTD Sales of Theodore Roosevelt National Park 29,500
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
September 28, 2016
Silver
Silver ETF Assets Soar to Record, Buoyed by Industrial-Use Bets
Gold
Chinese company top bidder for Glencore mine in Kazakhstan
Gold buy orders hit record high amid policy uncertainty
Russian Central Bank says has no aim to raise is gold share reserve %
Translation: we don’t mean too, just happens
Update “We are a country that is third in the world in terms of gold production and we have the opportunity to buy it using our national currency.”
“Bank of Russia will buy about 200 tonnes of gold this year to replenish its gold reserves, after buying 206.4 tonnes in 2015.”
How Gold Came to South Korea’s Rescue
US Economic Data
Durable Goods 0.0%, Exp. -1.4%
Defense capital goods new orders +23.6%
Reuters: “a positive signal for the business investment outlook” (up 0.8% Month over month) BUT down year over year
OPEC agrees to oil output cut OPEC agrees to oil output cut
The Fed’s Big Yack Attack
January 26-27 X-market crash
March 15-16 X
April 26-27 X
June 14-15 X- brexit
July 26-27 X- brexit
September 20-21 X- just because
November 1-2 ?
December 13-14 ?
Here is who spoke in the last twenty four hours
SF Fed President John Williams:
From the guy who said FOUR rate hikes this year would be appropriate.
“I would support an interest rate increase” “US economy can handle a rate hike” “An easy way to convince markets of something is by doing it,” Williams said.
Fed Chair Janet Yellen
December 2105 Fed internal projetions -four rate hikes in 2015
End of March – rate hikes but slowly, basically calling off April rate hike projections changed to TWO rate hike.
May – Rate hike likely appropriate for June
August Case for rate hike in September has strengthened
Yellen testifies says rate hike appropriate-
No fixed timetable but economy ready for a rate hike this year ‘warning that without a change soon, employment growth could cause the economy to “overheat”
St. Louis Fed President Bullard
March- Bullard sees case for April Rate Hike
June – We may only need one rate hike through 2018
August-September might be a good time to raise rates
September – Yellen testifies that a rate hike is appropriate this year.
Chicago Fed President Charles Evans
August one rate hike appropriate this year
We’ll Likely Be Stuck With Low Rates ‘for Some Time’
Minneapolis Fed President Kashkari
Declining To Raise Interest Rates Was The ‘Right Move’ / U.S. Economy Not in Immediate Danger of Overheating.
Federal Reserve Cleveland President Mester
Fed’s Mester says it’s appropriate to raise interest rates
Fed Esther George
Fed’s Esther George: It’s time to remove some accommodation
From Smaulgld.com December 2015
‘All year we have said all year, the Federal Reserve would raise rates by the end of the year, to stay ahead of the other central banks and to boost demand for U.S. Treasury bonds, which according to yesterday’s Treasury report is clearly in decline.
The Fed’s policy is focused primarily on protecting the United States’ most valuable asset – the dollar and its ability to get the world to buy treasuries so it can continue fund the massive welfare/warfare state.
Fed policy is NOT about protecting the too big to fail banks, the economy, the stock market or the job market – those are secondary objectives. The Fed’s primary objective is to protect the U.S. Treasury and its ability to sell U.S. Treasury Bonds.
From Smaulgld.com December 2015
What’s next for the Fed?
‘We believe the Fed will continue to push the concept that they are on a rate hike path (data dependent, of course) because the economy is improving and that “job gains” will eventually boost consumer spending and inflation. Having gained credibiity for raising rates, Ms. Yellen and Fed officials will talk about another rate hike for months sending conflicting signals that they might raise rates, might not raise rates or might lower rates.
The Fed won’t throw the towel in and reverse course until either the data clearly indicates a recession or another financial crisis occurs.
Also see Will the Fed Sacrifice the Dollar to Save the Markets
Yellen’s Day on Capitol Hill
Yellen Talks About Fed Buying Stocks
Here is the clip of Representative Scott Garrett of New Jersey and Ms. Yellen
During Yellen’s testimony before the House Financial Services Committee Congressman Mick Mulvaney asked about the potential of the Fed to buy stocks:
“There’s been some attention in the last few months about the recent decision by the Bank of Japan to start purchasing equities and my question to you is fairly simple. Is the United States Federal Reserve looking at the possibility of adding the purchase of equities to its tool box as it looks at monetary policy?”
“Well, the Federal Reserve is not permitted to purchase equities. We can only purchase U.S. treasuries and agency securities. I did mention in a speech in Jackson Hole, though, where I discussed longer term issues and difficulties we could have in providing adequate monetary policy. Accommodation may be somewhere in the future, down the line that this is the kind of thing that Congress might consider, but if you were to do so, it’s not something that the Federal Reserve is asking for.”
Fed can’t take rates to negative if the dollar is the world’s reserve currency but they can continue to prop up one of the US greatest assets the stock market by doing pre bail out of companies and ensuring the US stock market is always “safe” as backstopped by the Fed’s buying.
Excuse: Other central banks are doing it.
They want to KILL the markets or at least tame them.
If they buy stocks equities will have a floor under them but not gold.
YELLEN SAYS FED NOT ALLOWED TO BUY EQUITIES.
This is a set up to ask for congressional approval after the next stock market crash.
Janet also fumbled her answer on the Labor Force Participation Rate
ATLANTA FED 3Q GDPNOW FORECAST +2.8% VS +2.9% PREV
German Government Prepares Deutsche Bank Bail out
Deutsche bank can “collapse” but ECB will either provide liquidity (in exchange for shares) and gain more control, nationalization
Central Banks eventually will displace “private banks”
James Comey testifies to Congress
Comey was not in room with Hillary during her questioning and doesnt’ know who was in the room
Mr. Gohmert to Mr. Comey: why give immunity to get a laptop from Cherly mills????
Mr. Poe: You gave immunity to Combetta- will you reopen the case?
Desantis to Comey: Any one else would have been a court martialed
James Comey; You cant call us weasesls!
September 29, 2016
US Economic Data
2nd quarter GDP revised up to 1.4%
surge driven by spending on healthcare, housing and utilities
Pending home sales fell 2.4 percent in August to 108.5, its lowest reading since January
Commerzbank to fire 20% of workforce
Gold
Russia to add 200 tons of gold to reserves in 2016
Kirkland Lake Gold to take over Newmarket Gold in $1-billion deal
Silver
Fed Chatter
Atlanta Federal Reserve President Dennis Lockhart wants to see more improvement before hiking U.S. rates, but expects to raise rates, before long
Philadelphia Fed President Harker
Harker says December rate rise appropriate on current trajectory
CNN propaganda
CNN Insists: Why the Federal Reserve isn’t political!
Politico covers the story and provides the Trump debate clip here
US Mint Sales Update
U.S. Mint reported selling 75,000 American Silver Eaglesand 7,500 American Gold Eagles today.
MTD American Silver Eagles sold 1,675,000 & American Gold Eagles sold 72,000
YTD American Silver Eagles Sold 30,575,500 /American Gold Eagles sold 558,500
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000 American Platinum Eagle coins sold.
The U.S. Mint reported selling 500 American Gold Buffalo coins.
MTD 15,000 sold
YTD 146,500 sold
The U.S. Mint Reported selling 0 Theodore Roosevelt National Park five ounce silver America The Beautiful Coins.
YTD Sales of Theodore Roosevelt National Park 29,500
September 30, 2016
Roman coins found in Japanese castle ruins
From Smaulgld.com
Gold
Secret Alpine Gold Vaults Are the New Swiss Bank Accounts
easier to store than silver
Gold buying picks up ahead of India’s festive season, China holiday
Dutch ABN Amro to fire thousands
DB to settle for $5.4 billion?
US Economic Data
Personal Income 0.2%, Exp. 0.2%,
Personal Spending 0.0%, Exp. 0.1%
Reuters Falls “unexpectedly”
Chicago PMI 54.2, Exp. 52.0, Last 51.5 but employment component slipped
Atlanta Fed!
Reduces 3rd quarter GDP projection from 2.8% to 2.4% was 3.8%
UMich 91.2, Exp. 90.0, Last 89.8
War on Cash
Countries where cash is near extinction
U.S. Mint Sales Update
U.S. Mint reported selling 0 American Silver Eaglesand 7,000 American Gold Eagles today.
MTD American Silver Eagles sold 1,675,000 & American Gold Eagles sold 79,000
YTD American Silver Eagles Sold 30,575,500 /American Gold Eagles sold 565,000
The U.S. Mint reported selling 0 one ounce American Platinum Eagle coins.
YTD 20,000 American Platinum Eagle coins sold.
The U.S. Mint reported selling 2,500 American Gold Buffalo coins.
MTD 17,500 sold
YTD 149,000 sold
The U.S. Mint Reported selling 0 Theodore Roosevelt National Park five ounce silver America The Beautiful Coins.
YTD Sales of Theodore Roosevelt National Park 29,500
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
Sign Up For Smaulgld.com Updates Here!
If you have enjoyed this report, please consider sharing it, buying your precious metals through the Smaulgld affiliates linked to on this site* and subscribing (for free) to Smaulgld.com.
Get Free Updates From Smaulgld.com
Subscribe to Smaulgld.com to receive free gold and silver updates, news and analysis.
Please visit the Smaulgld Store for a large selection of recommended Kindles, books, music, movies and other items.
You can support Smaulgld.com by making all your Amazon purchases through the search widget below and by ordering your gold and silver by clicking on the JM Bullion, BGASC, Bullion Vault, Gold Broker, Golden Eagle Coin, GoldMoney, SD Bullion, Perth and Royal Canadian Mint ads on the site.
Browse Collectible Coins on Amazon
DISCLOSURE: Smaulgld provides the content on this site free of charge. If you purchase items though the links on this site, Smaulgld LLC. will be paid a commission. The prices charged are the same as they would be if you were to visit the sites directly. Please do your own research regarding the suitability of making purchases from the merchants featured on this site.
Chart Disclaimer: Information presented here has been obtained from a third party and is presented for information purposes only. Smaulgld can not and does not guarantee the accuracy or timeliness of the data displayed on this site and therefor the data provided should not be used to make actual investment decisions. You should always consult a professional investment adviser before investing in precious metals or any type of investment. You acknowledge that Smaulgld assumes no responsibility for the integrity of data on this site.
The content provided here is for informational purposes only. Making investment decisions based on information published by Smaulgld (SG), or any Internet site, is not a good idea. Accordingly, users agree to hold SG, its owner and affiliates, harmless for all information presented on the site. SG presents no warranties. SG is not responsible for any loss of data, financial loss, interruption in services, claims of libel, damages or loss from the use or inability to access SG, any linked content, or the reliance on any information on the site.
The information contained herein does not constitute investment advice and may be subject to correction, completion and amendment without notice. SG assumes no duty to make any such corrections or updates. As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of that investment. SG disclaims any and all liability relating to any investor reliance on the accuracy of the information contained herein or relating to any omissions or errors and as such disclaims any and all losses that may result.
Send Litecoin to this address:
