Gold

I expect that the bottom of silver will be reached in the last days of November and that the rule 589 should be applied in the first trading days of December, for a vertiginous rise, as no one dares to evoke it to aloud.

The imminent secular downturn of debt and asset markets as well as the world economy will reveal how unreal these profits were as 90% or more of all the paper wealth in the world will go up in smoke. So investors should now prepare for the biggest wealth destruction in history and also the bigges...

The Bank of France has partnered with U.S. banking group JPMorgan to expand its range of gold bullion services for central banks.

John Edmonds, 36, pleaded guilty to one count of commodities fraud and one count of conspiracy to commit wire fraud, price manipulation and spoofing.

Where the gold is going is certainly no secret. Whilst the West has not got a clue of the strategic significance of physical gold, the East’s accumulation of the yellow metal continues unabated.

Gold demand was 964.3t in Q3, just 6.2t higher y-o-y. Robust central bank buying and a 13% rise in consumer demand offset large ETF outflows.

Last month we saw imports of gold into Switzerland and then exports to Asia and India. Last month, over 70% of the gold import figures (into Switzerland) came from London and the United States.

The time of easy gains in markets is now over. With the Fed and other central banks tightening and with the 35 year interest cycle having turned up, the party is over.

In a recently published article, Nouriel Roubini, one of the most trusted economists on the planet, predicts: “By 2020, the conditions will be ripe for a financial crisis, followed by a global recession.” He states ten reasons for his prediction.

The end of an empire is a dramatic but also drawn out event with very few willing to face the facts. As the end is getting closer, denial is at its peak. We can probably figure out how it will end but not quite when. Looking at the facts, the beginning of the end is here.