Fabrice Drouin Ristori https://goldbroker.com/author/fabrice-drouin-ristori Inflation fears continue to be a concern in the markets. They are now materializing in the real economy. Speaking to Sputnik, Fabrice Drouin Ristori, founder of Goldbroker.com, says that monetary policies are putting the value of currencies-especially the dollar-at risk. After a complicated week, the New York Stock Exchange restarted with a more- than-tepid session on May 17. The Dow Jones ended down 0.16% at 34,327.79 points. Not any better for the flagship index of technology stocks: the NASDAQ; it gave up 0.38% to 13,379.05 points while the broader S&P 500 index dropped 0.25% to 4,163.29 points. You know where I stand on the Fed & Powell & their denials on exacerbating wealth inequality & the danger of the insane asset bubble they have created. Well, here's Druckenmiller dropping truth bombs on Powell & the Fed on the very same subjects. pic.twitter.com/3PThE2I5B2 — Sven Henrich (@NorthmanTrader) May 15, 2021... Wed, 19 May 2021 08:40:10 +0000 https://goldbroker.com/news/is-the-fed-killing-the-dollar-dramatic-consequences-2330 As indicated in my article of September 25, during a bull market, there are systematic corrections of the order of -20% on gold and -30% on silver. Since peaking at just over $2000 per ounce at the end of July, gold has corrected by -14%. In the same article, I wrote: "To date, the 200-day moving average is $1720 for gold. It is possible that it may be broken temporarily, but again, not for fundamental reasons but for reasons of excessive sentiment. The markets go from euphoria to fear, causing excessive movement, then things calm down and fundamentals regain the upper hand". At the time of writing, the price of gold is $1771 per ounce. Although the price may drop a little more, this correction is not surprising. Source As early as August 7th, I announced on Twitter that we were close to an intermediate peak and that a downward phase was about to begin. This is what happened. Real rates (#TIPS) drive #gold. Looks like we might have a top and a... Mon, 30 Nov 2020 15:29:24 +0000 https://goldbroker.com/news/gold-silver-prices-are-close-low-point-2046 We have been talking for years on this site about the very high probability of seeing the emergence of a new monetary system, replacing the current one, based on one or more currencies once again convertible into tangible assets. If the IMF does not speak (for the moment) directly about using physical gold in this new system, the institution has however just announced that a new "Bretton Woods" was necessary to manage the post-crisis period and to restructure the debt of the G20 countries which, let’s remember, were blown away following the Covid-19 pandemic. It is recalled that the World Economic Forum is even more direct since they announced the launch of the initiative "The Great Reset" or "major restructuring". .@KGeorgieva: Just as our founders did at Bretton Woods in 1944, we now face two massive challenges: to fight a crisis today while also building a better tomorrow. This is a new Bretton Woods moment. https://t.co/ARruTjMLF8... Wed, 21 Oct 2020 07:52:01 +0000 https://goldbroker.com/news/imf-calls-for-new-bretton-woods-1998 With gold and silver prices correcting, as they have been doing for several weeks, I like to reread this article by American analyst, Lyn Alden, which explains the four fundamental reasons to continue to own gold in 2020. As I explained in my previous article, the current downtrend does not mean the end of the bull market. It represents a healthy and temporary decline that calms the euphoric feeling in the market and will allow the next upward phase to be fully energized. As for the fundamentals that are pushing metals higher, here is an analysis of the four main ones. By Lyn Alden In my view, there’s still a good case for including gold and gold stocks in a portfolio, despite their recent period of outperformance. In other words, I still think we’re in the first half of this gold bull move from 2015/2016 lows, rather than the tail end. Chart Source: St. Louis Fed I added gold and gold stocks to my model newsletter portfolio in October 2018, and have d... Mon, 12 Oct 2020 10:08:39 +0000 https://goldbroker.com/news/4-simple-reasons-to-buy-gold-1969 In a bull market, there are systematically corrections of around -20% on gold and -30% on silver. The last bull market from 2001 to 2011 was no exception to this rule, as can be seen in the chart below. These corrections did not prevent gold and silver from achieving a performance of +558% and +899%, respectively, over this period. These drops have nothing to do with fundamentals, which have generated a new bull market since December 2015, but are linked to cycles and phases of excessive optimism. A market does not rise vertically without ever falling. These corrections help to calm excessive optimism. Let's take a simple example to better understand the bull markets dynamics: imagine a construction whose foundations do not rest on a sufficiently wide and solid base, but on the contrary: on a narrow, fragile and vertical scaffolding. What are the chances of building a 100-story building on such a fragile base? None. A building of this type is bui... Fri, 25 Sep 2020 08:53:04 +0000 https://goldbroker.com/news/how-explain-drop-gold-silver-prices-1968 My selection of tweets of the week: paper gold derivatives, stock market, gold as insurance... When you think about it the monetary domain is probably the worst sector in terms of improvement in the last century. — Fabrice Drouin Ristori (@FabriceDrouin) April 19, 2020 "The worst thing you can do with insurance is trying to time it" Nassim Taleb #gold — Fabrice Drouin Ristori (@FabriceDrouin) April 20, 2020 oil is sending a message that the stock market is ignoring for now. #oil #stocks — Fabrice Drouin Ristori (@FabriceDrouin) April 20, 2020 Right now there is about one or two sellers for every 99 buyers of small gold bars and coins https://t.co/V2bM8fJLpJ — BN Commodities (@BNCommodities) April 2, 2020 That s already what is taking place right now. Paper derivatives are being destroyed. #gold #oil https://t.co/CVavoBCGgu — Fabrice Drouin Ristori (@FabriceDrouin) April 20, 2020 Gold to Reach $3,000—50% Above Its Record, Bank... Sat, 25 Apr 2020 08:53:29 +0000 https://goldbroker.com/news/worst-thing-you-can-do-with-insurance-trying-time-it-1827 My selection of tweets of the week: gold outpout, gold revaluation, monetary reset, devaluation of major fiat currencies... How come silver wouldn t follow gold revaluation in that scenario ? @freegolds https://t.co/3TNBJjdTnY — Fabrice Drouin Ristori (@FabriceDrouin) April 13, 2020 looks like a pre monetary reset meeting to me pic.twitter.com/cBejMVNndk — Fabrice Drouin Ristori (@FabriceDrouin) April 13, 2020 The guardians of the printing press will now try to save the economy (read their monetary power) with a gold revaluation (overnight or very fast) that will ruin the purchasing power of most people on this planet. Saving the system not your finances. — Fabrice Drouin Ristori (@FabriceDrouin) April 13, 2020 Russia has 20% of their reserves In #gold. What they lost in oil revenue they made it back (and more) with recent gold performance. https://t.co/7Pkd1hdWLT — Fabrice Drouin Ristori (@FabriceDrouin) April 13, 2020 Meanwhile in India...g... Sun, 19 Apr 2020 09:28:10 +0000 https://goldbroker.com/news/devaluation-major-fiat-currencies-versus-gold-since-1900-1820 My selection of tweets of the week concerning the evolution of the "paper" and physical gold markets: COMEX (futures), LBMA, gold revaluation... at reduced capacity — Fabrice Drouin Ristori (@FabriceDrouin) April 5, 2020 Total annual gold mines output will drop drastically this year due to Coronavirus. Gold refineries to reopen at reduced capacity. Massive worldide physical demand for gold and silver. Dont expect shortage to go away shortly. #gold #silver — Fabrice Drouin Ristori (@FabriceDrouin) April 5, 2020 I’ve often said that cash-settled futures on a monetary asset like gold with no position limits shifts price discovery from supply/demand fundamentals to whoever has the biggest balance sheet. — Luke Gromen (@LukeGromen) April 4, 2020 Gold Markets Are Being Haunted by Signs of Dislocation Again - Bloomberg https://t.co/HtHDUHGL1C — Luke Gromen (@LukeGromen) April 7, 2020 Dump the USTs, keep the gold. Gresham's law in acti... Fri, 10 Apr 2020 15:54:29 +0000 https://goldbroker.com/news/gold-revaluation-will-be-ultimate-margin-call-1811 My selection of tweets of the week concerning the evolution of the "paper" and physical gold markets: COMEX (futures), LBMA, US dollar, Fed... The Fed and Treasury are merging...President Trump taking control of the Fed ? #fed #trump #qeinfinity #blackrock pic.twitter.com/HkJMn5XIVd — Fabrice Drouin Ristori (@FabriceDrouin) March 28, 2020 you end a debt deflation by a #gold revaluation — Fabrice Drouin Ristori (@FabriceDrouin) March 28, 2020 what s the point of holding dollars (paper) if you can t buy physical gold ?(already happening). it s a bit dangerous to think that one will be able to time exactly when to make the move from dollars to physical gold. — Fabrice Drouin Ristori (@FabriceDrouin) March 28, 2020 correct, depending on what asset you own, you either lose everything (bails-in), lose purchasing power (devaluation) or maintain your purchasing power (gold). — Fabrice Drouin Ristori (@FabriceDrouin) March 28, 2020 There was pl... Fri, 03 Apr 2020 16:40:45 +0000 https://goldbroker.com/news/you-end-debt-deflation-by-gold-revaluation-1805 My selection of tweets of the week concerning the evolution of the "paper" and physical gold markets: COMEX (futures), LBMA, closure of Swiss refineries... Are we witnessing the end of "paper" gold with the blatant disconnect in between futures (paper) and physical market ? — Fabrice Drouin Ristori (@FabriceDrouin) March 18, 2020 From the front lines of gold: Royal Canadian Mint closed for 2 weeks. U.S. Mint backordered a month in advance. Brinks JFK on half shifts (gold can't move). Brinks Utah recovering from earthquake. European refiners can't ship to U.S. (travel restrictions). Sorry, no gold for you. pic.twitter.com/pn2w2Yg1CV — Jim Rickards (@JamesGRickards) March 20, 2020 #comex and #LBMA set the price of $gold and $silver. The banks seem to be on the wrong side of this trade. The second they both close paper markets, You can bet your ass the street price will skyrocket making paper irrelevant. You can't hit pau... Fri, 27 Mar 2020 16:44:19 +0000 https://goldbroker.com/news/are-we-witnessing-end-paper-gold-blatant-disconnect-between-futures-physical-1800 Charles Gave, president of the liberal think tank Institut des Libertés, is an economist and financial analyst. He got public attention after he published his first essay in 2001 in which he denounced the Euro. His last book about state bankruptcy forecasted in 2009 the fall of Greece and Spain. He is the founder of Gavekal Securities and a member of the board of SCOR. Fabrice Drouin Ristori: Mr Gave, thank you for accepting our invitation. My questions are mainly about the risks that you see at this moment that may have an impact on savers and investors, as well as your recommendations for protection against those risks. Let’s start by risk: What are the major risks that you’ve identified for European savers and investors? Charles Gave: Let’s not hide our head in the sand, here. We are living an unprecedented historical period. If interest rates are meant to protect against the “future’s uncertainty”, negative rates would imply that the future is more “certain” t... Thu, 28 Sep 2017 17:04:40 +0000 https://goldbroker.com/news/interview-charles-gave-gold-euro-risks-for-savers-investors-1198 Physical gold is about to mark its return at the center of the settlement system for oil transactions – a first step toward a reintroduction at the center of the international monetary system. The months and years to come shall mark a radical change within the international monetary system, driven by China and the oil exporting countries. China, after years of preparations, (with the help of intriguing gold price moves), just announced the programmed ending of the post-Bretton Woods monetary system. How so? By launching futures contracts on oil denominated in Yuan before the end of this year... thus allowing oil exporting countries to be paid in Yuan in exchange of their oil – they can then buy physical gold on the Chinese exchanges in Shanghai and Honk Kong. Yuan-denominated gold futures have existed since 2016 – but these new futures contracts on oil denominated in Yuan are changing the picture: oil will be sold for Yuan that can then be converted into physical gold... Mon, 11 Sep 2017 09:40:32 +0000 https://goldbroker.com/news/gold-making-comeback-center-international-monetary-system-1182 Deutsche Bank has agreed to pay a fine to end a lawsuit from a group of investors accusing it, along with other banks, of manipulating precious metals prices. https://www.goldbroker.com/news/deutsche-bank-confirms-silver-market-manipulation-in-legal-settlement-agrees-to-expose-other-banks-941​ https://www.goldbroker.com/news/deutsche-bank-admits-also-rigged-gold-prices-agrees-expose-other-manipulators-942​ Deutsche Bank has also agreed to provide information on other banks having participated in the manipulation, so we should expect more revelations to follow. This news is a de facto acknowledgment of direct manipulation of gold and silver prices by several large banks. This may give us an idea about the topic of the exceptionally urgent meeting at the Fed at the start of the week... Deutsche Bank has been at the center of all worries for awhile, primarily due to its enormous derivatives portfolio and, secondly, because its stock decline mirrors almost exactly th... Fri, 15 Apr 2016 23:29:13 +0000 https://goldbroker.com/news/edging-toward-the-liberation-gold-943 On January 5th I sent an email to the head of market operations at the Banque de France, Mr Gautier. You can read the questions I asked him about the activity of the French Central Bank in the gold market here. On January 12th I received the following answer from Mr Gautier : "Good evening, Sir, Thank you for your email. I understand you have in your possession the two presentations/speeches to which you refer. I cannot expand beyond their contents because Banque de France does not make public the management of its foreign exchange reserves. Furthermore, we very seldom give interviews. Let me take this occasion to offer you my best wishes for 2015, Cordially, Alexandre Gautier Banque de France" First I would like to thank Mr Gautier for his answer, since I wasn't expecting any. Now, this is a direct and official confirmation that the French central bank does not want to make public the management of its foreign exchange reserves, and thus r... Tue, 13 Jan 2015 11:54:00 +0000 https://goldbroker.com/news/alexandre-gautier-answers-questions-about-activities-bank-france-gold-market-692 UPDATE - Answers received from the French Central Bank on January 12th 2015: Read it here To the attention of Mr. Alexandre Gautier, director of market operations at Banque de France. January 5th, 2015 Mr. Gautier, You made a speech, in September 2013, at the London Bullion Market Association (LBMA), in which you stated the following: - Banque de France intervenes on the gold market on its own behalf almost daily. - Banque de France has leased some of France’s gold reserves and further leases may yet occur. - Banque de France intervenes in the internal gold market with central banks and official institutions but does not communicate these operations. In November 2014, you made another speech at the LBMA conference in Lima, Peru, entitled “Managing Gold as a FX Reserve Asset”, in which, notably, you talked about the gold swaps. As we are starting the new year, 2015, could you please respond to the following questions? (For your information, your answ... Sun, 11 Jan 2015 21:48:00 +0000 https://goldbroker.com/news/french-gold-reserves-letter-alexandre-gautier-banque-france-685 Gold is the most maligned asset, if you listen to the Fed, the ECB, and other central banks. This was driven home again in a variety of ways, including what transpired before the Swiss gold referendum and Mario Draghi’s “all assets but gold” declaration. So I asked a man who knows, Fabrice Drouin Ristori, Founder and CEO of Goldbroker.com, why the heck central banks react toward gold in that bizarre manner. WOLF: On November 30, the Swiss voted down the proposal presented in the “gold referendum.” Was there anything peculiar about the process? FABRICE: The Swiss National Bank and most Swiss media campaigned for the NO side, which is quite unexpected in a democratic process. There are two lessons to be learned from this referendum: One, this campaign clearly shows that gold is the banking and financial system’s enemy #1 in Western countries, since a return to a gold standard would limit their money creating capacity, thus their power. And two, people in Western count... Tue, 23 Dec 2014 22:32:00 +0000 https://goldbroker.com/news/central-bankers-discourse-systematically-anti-gold-680 After joining together three recent events, this is the question I’ve been asking myself. 1) The Swiss National Bank announced it was introducing negative interest rates (NIRP) on December 18, 2014. This was done in order to hamper any defensive buying of Swiss francs by investors wishing to protect themselves from devaluation of their currency (the euro or the ruble, currently). Or more to the point, as regards the euro, to protect the 1.2 CHF for 1 euro floor price, so that the Swiss franc does not appreciate too much. Perhaps the SNB knows a sovereign QE program is coming and is anticipating a run on the euro and a flight to the Swiss franc, which would break the “fixed” parity it is defending at high costs. 2) Mario Draghi seems ready to have the ECB directly buy sovereign debt Thus this decision by the SNB would have preceded the eventual announcement of a Sovereign QE program. 3) The CME, the American regulation agency, will implement new rules suppos... Sun, 21 Dec 2014 00:49:00 +0000 https://goldbroker.com/news/mario-draghi-verge-announcing-sovereign-quantitative-easing-program-677 Translation of the interview for Oroyfinanzas.com Oroyfinanzas: These last few weeks half of the planet’s stock markets reached historical heights. Do you see this upward movement continuing going forward? Fabrice Drouin Ristori: I would answer in two parts: First, in nominal terms (measured in paper currencies), stock markets have effectively been growing these last years, but evaluating an asset in a devaluating currency (dollar or euro) does not lead to a clear vision of its performance. In order to get a clear idea of its performance, I think it is best to eliminate the monetary factor and compare an asset against other real assets, such as gold or oil, for example. And if we use this method over a long period, we realise that the stock markets do not really perform highly. This performance is an illusion due to the depreciation of paper currencies. Secondly, stock markets are not the free markets they once were. We now know that central banks intervene massiv... Thu, 27 Nov 2014 16:02:00 +0000 https://goldbroker.com/news/interview-fdr-paper-gold-stock-markets-dollar-central-bank-660 “Help your enemies underestimate your capabilities”. This is what Sun Tzu, the Chinese general, wrote in the famous military strategy book The Art of War. This military strategy is perfectly applicable today to the gold market. The Western press and pundits for the current financial status quo are doing all they can to divert investors from physical gold and make them underestimate gold (this only works in Western nations and not at a Central Banks level since they all own physical gold and are net buyer for a few years). Two tactics are being used to implement that strategy: Publishing articles where the explosion of global physical demand is never mentioned and direct manipulation of precious metals spot prices by financial engineering, notably on the COMEX, through massive selloffs of futures at the most illiquid times of the market. This article from the french newspaper Le Figaro titled “Les cours de l’or poursuivent leur dégringolade”, meaning that the gold pric... Mon, 17 Nov 2014 18:44:00 +0000 https://goldbroker.com/news/medias-art-war-gold-650 There are many events to be analysed for these last few weeks. As happens every year, this time of year is, once again, quite fertile. These events, whether geopolitical, economic, financial or historical (end of the London Gold & Silver Fixing), all exert influence, more or less on the long term, on the precious metals markets. Within a long-term investment perspective, it is best to analyse first the geo-strategic events, since they might give us a clue on the hard trends in regard to the international monetary system, albeit without short-term fluctuations. All of those events can be tied together and provide hints that confirm, as I’ve been showing with the rest of Goldbroker.com’s editorial team for several years, that a financial paradigm change is occurring and that it will lead, as has always been the case historically, to a return of a form of gold standard. We are not inventing this: Owning gold has always constituted a means of protecting one’s weal... Mon, 28 Jul 2014 16:30:00 +0000 https://goldbroker.com/news/gold-market-analysis-recent-geopolitical-economic-banking-events-547