Author Archive: GoldSilverWorlds
Fed Chairman: “We’re Not Even Thinking about Thinking About Raising Rates”
Market volatility has suddenly spiked in recent days came after the Federal Reserve vowed last Wednesday to keep its benchmark rate near zero through 2022. That’s an unusually long period for the Fed to be projecting rate policy. It reflects the fact that it will take many months and perhaps years for the tens of millions of jobs that were recently lost to return. During his press conference, Chairman Powell stumbled and stammered his way into stating that he would be happy to let inflation continue to rise until the economy approaches full employment. Jerome Powell: We’d be looking to get inflation back up and we’d be prepared to tolerate, uh, […]
Frank Holmes: “Silver is going to have a sudden, massive move to $50 that everyone will be surprised over…”
Mike Gleason: It is my privilege now to welcome back Michael Pento president and founder of Pento Portfolio Services. Michael is a well-known money manager, market commentator, and author of the book, The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market. He’s been a regular guest with us over the years, and it’s always a pleasure to have him on with us. Michael, thanks for the time again today and welcome back. Michael Pento: Thank you so much for having me back on Mike. Mike Gleason: Well, Michael, it’s been a few months since we’ve had you on last and just a little bit has been going on […]
Investors Confused as Governors Spur Protests While Keeping Others Locked Down
A violent and chaotic week in America’s cities was met with little apparent concern on Wall Street. For the most part, the stock market continued on its merry way higher. Precious metals markets, meanwhile, are giving back some of their recent gains. It’s no surprise that silver encountered some resistance at $19. In fact, on May 26th we had pointed to that very level being the next important target for silver in weekly Money Metals News Alert we send out via email every Monday morning. $19 was also the high point for silver in late February before the steep selloff began. So, this week silver essentially made up for all […]
Michael Pento: “Central Banks Have Jumped the Shark,” May Even Buy Stocks
Mike Gleason: It is my privilege now to welcome back Michael Pento president and founder of Pento Portfolio Services. Michael is a well-known money manager, market commentator, and author of the book, The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market. He’s been a regular guest with us over the years, and it’s always a pleasure to have him on with us. Michael, thanks for the time again today and welcome back. Michael Pento: Thank you so much for having me back on Mike. Mike Gleason: Well, Michael, it’s been a few months since we’ve had you on last and just a little bit has been going on […]
Is America Headed for a Post-Apocalyptic Currency Collapse?
Just when it seemed as though America may be turning the corner after months of lockdown… just when it seemed as though we were on a path to reopening and gradually returning to normalcy… just when the prospects of panic-induced social unrest seemed to be behind us… …America’s cities erupted into flames. Antifa and BLM-organized rioting, looting, violence, and mayhem have pushed cities across the country into pandemonium. Even if the insurrections are soon quelled – as President Donald Trump promised to do in a speech in front of the White House on Monday – the consequences won’t soon go away. Some epidemiologists seized on the protests to predict a […]
Social Unrest Rises as Confidence Falls
Protests egged on by the legacy media quickly devolved into large-scale riots and looting over the weekend in more than a dozen U.S. cities. Some important institutions have betrayed the public trust, and Americans facing quarantine and staggering unemployment have arrived at the boiling point. Meanwhile, the ranks of people buying gold and silver as a hedge against economic chaos and financial malfeasance swelled again in recent months. A new wave of Americans is grappling with what it means for Congress to spend trillions it doesn’t have. Or for Federal Reserve bankers to print trillions of electronic notes and hand them over to their friends on Wall Street. Seymour Hurst […]
Gerald Celente Unloads: “We Got Sick Bastards DESTROYING Our Lives and There’s Hardly Any Protests…”
Mike Gleason: It is my privilege now to welcome back the one and the only Gerald Celente, publisher of the renowned Trends Journal. Mr. Celente has been a regular guest on the Money Metals Podcast over the years and is perhaps the most well-known trends forecaster in the world, and it’s always great to have him on with us. Gerald, thanks for the time again today and welcome back. Gerald Celente: Well thanks for having me back again Mike. Mike Gleason: Gerald, I’d like to start by getting your outlook on what lies ahead for the nation. Some states are easing the lockdown. Other places, such as California, are extending such restrictions. Regardless, there has been […]
Trump vs. Biden: What’s at Stake for Metals Investors?
The China virus, the economic lockdowns, and the multi-trillion-dollar rescue efforts of central bankers have dominated markets over the past three months. However, as lockdowns gradually lift and the 2020 election draws nearer, investors will begin to focus more on political developments. The once-strong economy that President Donald Trump had hoped would propel him to re-election has collapsed. The President has also taken a tremendous amount of heat from the media over his handling of the COVID-19 crisis, and that has hurt his poll numbers. Despite these headwinds, polls show Trump still has a good chance of defeating a stumbling and bumbling Joe Biden. The opinions of pundits and pollsters […]
A New Day Has Dawned for Gold and Silver
Most resource sector writers (including me) have for a long time been “wrong” about gold and silver. When they ran from $250 and $5 an ounce, respectively, to $1,920 and $49 in 2011, those who listened, acted, and sold a bit did quite well. We argued the “longer time bullish case” as these metals dropped into their final cyclical bear market graves in late 2015. But that was then… and this is now. What we DID get right was that when the Big Turn finally came, it would change directions so swiftly and violently that anyone waiting for “the bottom” would miss it, as rising premiums more than offset declining […]
Another Stock Market Selloff Could Drive More Bullion Buying
Investors got a look at first quarter GDP, and it wasn’t pretty. The U.S. economy contracted by 4.8%, even worse than the 3.3% decline anticipated by economists. In addition to that bad news, 4 million more Americans filed for unemployment last week. More than 30 million people have lost jobs over the past 6 weeks, and the situation is only getting worse. The S&P 500 lost 2.8% on Friday. Perhaps equity investors are beginning to wonder if share prices, which have moved relentlessly higher in recent weeks, accurately reflect the dismal economic data. Warren Buffett certainly is. The famed investor announced his company, Berkshire Hathaway, had sold all of its […]
Americans Just Can’t Get Enough Gold & Silver
Precious metals markets enter the month of May with some mixed signals near term. But the long-term picture continues to look constructive. All the metals appear to have put in major bottoms during the panic selling of mid to late March. Barring another wave of virus outbreaks and economic lockdowns, the gradual reopening of state, local, and national economies should start to unleash more industrial and jewelry demand in the not too distant future. And the extraordinary fiscal and monetary stimulus being pumped into the financial system will, if nothing else, work toward the debasement of the U.S. dollar. Earlier this week, the Federal Open Market Committee met and pledged […]
Monster Gains in Mining Stocks Bode Well for Gold and Silver
April marks a second month of truly extraordinary developments in markets – from negatively priced crude oil futures to a record spike in unemployment claims to a lockdown-defying rally in stocks. The financial media is touting the S&P 500’s surge of more than 13% in April – the biggest one-month gain for the index since 1974. While stock market investors have made up a big chunk of their 2020 losses, the major averages and nearly all sectors within them are still down significantly for the year. One exception is the mining sector. The GDX Gold Miners ETF (NYSE:GDX) exploded 42% higher in April to make fresh new 7-year highs. For […]
What’s Next, Trillion-Dollar Coins?
The massive set of stimulus measures rolled out last month by the Treasury Department and Federal Reserve has left many Americans wanting more… and politicians scheming for new ways to dole out additional trillions in cash. Most taxpayers have already received their $1,200 “stimulus” payments. However, that one-time payment will do little to repair the long-term financial health of the 26 million (and rising) who are newly unemployed. And it surely won’t bail out all the small business owners who were callously deemed “non-essential” and forced to shut down during this pandemic. A national WalletHub survey found that 84% of Americans want another stimulus check. The idea of getting free money is […]
The Oil Futures Crash Is a Warning to Gold Speculators
The metals complex showed relative stability this week as the oil market suffered a historic meltdown. West Texas Intermediate Crude crashed 70% at one point this week on the continuous contract, bringing prices briefly below $7 per barrel. By Thursday, prices were trading between $14 and $18 per barrel. The volatility on the May futures contract was even more extreme. On Monday, May futures for crude oil crashed to one dollar, then to zero, then to a few pennies below zero, then to an unbelievable negative $37 per barrel. With the world literally running out of places to store oil, oil contracts for immediate physical offtake represented a liability rather […]
