"If Interest Rates Go Up- The Bubble Pops" - Alasdair Macleod
.Alasdair Macleod: If Interest Rates Go Up, the Bubble Pops
Palisades Gold Radio: Jul 15, 2021
Tom welcomes back Alasdair Macleod, Head of Research For GoldMoney. Alasdair discusses the Fed's levels of reverse repos and quantitative easing of 120 billion a month.
Since the banks can't absorb all the extra liquidity-seeking returns, the Fed must step into the market.
Basel III's net stable funding ratio requirement purpose is to reduce short-term deposits. These regulations exist to minimize risk with the banking system's liabilities.
Alasdair Macleod: If Interest Rates Go Up, the Bubble Pops
Palisades Gold Radio: Jul 15, 2021
Tom welcomes back Alasdair Macleod, Head of Research For GoldMoney. Alasdair discusses the Fed's levels of reverse repos and quantitative easing of 120 billion a month.
Since the banks can't absorb all the extra liquidity-seeking returns, the Fed must step into the market.
Basel III's net stable funding ratio requirement purpose is to reduce short-term deposits. These regulations exist to minimize risk with the banking system's liabilities.
The ratio takes the available stable funding, which is a liability and ranks them according to stability. Anything unstable is prohibited from being used against the asset side.
These rules encourage banks to increase their reserves because more are required to cover their operations. Basel III will increase volatility in the metal markets and should result in less manipulation.
Governments should have a more difficult time directly interfering in the markets. Overall these regulations should be good for the gold market.
Alasdair says, "They know damn well inflation is not transitory, they are just hoping something will turn up. They will have to increase interest rates probably this summer and then the bubbles will pop.
If they want to keep the bubble going they will have to do more QE. We are stuck in the situation where there will be only one outcome."
The FINRA indicators for equities show a complete lack of fear in the equity markets. These figures are four times higher today than during the Lehmann crisis. He compares today's markets with the middle of 1929 before the collapse.
If the dollar fails, everything fails on a global level, and it won't matter what the local policies are doing.
The way out is for countries to back their fiat currencies with gold. This won't happen until there is no other alternative available, and that is why people need to own physical metal because the alternatives for a time will be useless.
This will be a problematic situation within individual governments, let alone on a global scale. Keep watching interest rates and try to be ahead of the crowd.
When the bubbles burst, the fall of fiat currencies can't be far behind.
Time Stamp References:
0:00 - Introduction
0:34 - US Treasury Flows
4:55 - Basel III's Purpose
15:10 - Volatility in Metals?
16:46 - Rule Enforcement
18:23 - End of Manipulation?
20:22 - COT Report Accuracy
23:05 - Gold & De-dollarization
28:30 - Inflation Developments
34:10 - FINRA Investor Borrowing
38:02 - Global Bubbles
40:40 - CPI vs. PPI
42:25 - Dollar Printing Risks
46:37 - Concluding Thoughts
More News, Rumors and Opinions Wednesday Afternoon 7-14-2021
.KTFA:
FromBelgium: Hi. Can someone please explain why articles about "deleting zeros from the currency" should make us feel excited?
Seriously, they are not saying "delete zeros from the exchange rate", are they? I read the articles, but can't find anything that points in that direction. IMO
I want to be excited too, like many here seemingly. And I do see that there is more and more chatter about the currency. But the one thing we all want to read - we want to delete zeros from the EXCHANGE RATE - we never see... IMO
Waiting for the next articles about the nscn's now. If they come out, we will know exactly what will happen! IMO Keeping faith
KTFA:
FromBelgium: Hi. Can someone please explain why articles about "deleting zeros from the currency" should make us feel excited?
Seriously, they are not saying "delete zeros from the exchange rate", are they? I read the articles, but can't find anything that points in that direction. IMO
I want to be excited too, like many here seemingly. And I do see that there is more and more chatter about the currency. But the one thing we all want to read - we want to delete zeros from the EXCHANGE RATE - we never see... IMO
Waiting for the next articles about the nscn's now. If they come out, we will know exactly what will happen! IMO Keeping faith
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McDan: What You do not see the Program rate that was set in October the first 2003 was .00047 etc. now they want to delete the 3 zero and set the rate at .47 which is the SDR rate of Iraq .
To find the exchange rate the IMF has a value of today of 1.4247 round up to 1.43 . This rate can change 5 days of the week , because it is a weight weight to 5 country’s in a IMF basket. The exchange rate comes from this SDR rate which give a close 1/1 rate to the USD and the New Iraq Dinar. (In Country).
Outside of Iraq we are hoping to see the REER rate ( real effective exchange rate). The AMF will show a rate of 3 X The SDR of the IMF ( which will be the exchange rate for the Iraq Dinar outside of Iraq ) when the dinar is peg to different basket . IMO
Samson: Iraq is fifth among the countries of the Middle East by the value of contracts awarded
14th July, 2021
"Med" magazine, concerned with economic affairs, revealed on Wednesday that Iraq came fifth in the value of contracts awarded in the Middle East in June 2021.
The magazine said in a report, that "Iraq ranked fifth in the value of contracts awarded last June," noting that "it was awarded contracts worth $367 million, most of which were in the energy sector."
Mead added, "Iran came first with a value of contracts awarded at $1.190 billion, followed by Saudi Arabia second with $1.170 billion, and Egypt came third with contracts worth 722 million, followed by Qatar fourth with contracts amounting to $560 million."
In its report, MEED indicated that "Amman awarded contracts worth 350 million dollars in June, Kuwait awarded contracts worth 327 million dollars, while Bahrain awarded contracts worth 34 million dollars."
Med Projects is a premier database for tracking projects in the Middle East and provides in-depth analysis in the form of excellent informational reports on the high-value markets and sectors in the Middle East and North Africa. LINK
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Samson: News of an Iraqi ship burning in the Gulf, killing its crew
14th July, 2021
On Wednesday, various media reported the burning of an Iraqi ship in the Gulf waters.
The media indicated that the ship was loaded with black oil, adding that the accident resulted in the death of the ship's 9 crew members.
The causes of the fire were not mentioned, or the Iraqi government issued an official statement regarding the incident. LINK
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Samson: Major fire breaks out at Interpol headquarters in Muthanna
14th July, 2021
The Directorate of Civil Defense in Muthanna announced, on Wednesday, that a large fire broke out at the headquarters of the International Police "Interpol" in the center of the province.
The Director of Civil Defense, Brigadier General Muhammad Jassim, said in a statement, "Two civil defense teams managed this afternoon to put out a fire that occurred inside the headquarters of the International Police (Interpol) in Al-Muthanna Governorate."
He added that "the causes of the fire have not yet been known," noting that "it caused great material damage inside the headquarters." LINK
Second Holly RV Update Wednesday:
I just had a call am being told that the F&Ps are going to go today. I have heard cmkx should be going today as well along with the sovereign church groups.
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Courtesy of Dinar Guru
Petra The need for new small category notes will be controlled IMO. It's not going to be a huge amount to come out because they're driving everybody to digital commerce which is where the world is going with those CBDC's and all those other programs that are coming out from the BIS and many other entities.
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Mike Maloney
SILVER: What You Need To Know About Investing & Inflation Right Now
Premiered 21 hours ago
Silver has mysteriously appeared as a topic on several mainstream news shows lately, so what does this mean? Is the white metal about to wake from its slumber? Is this a trap?
Join Mike Maloney and Adam Taggart as they explore the latest news, along with a deep-dive into some inflation and ‘Everything Bubble’ data.
Economists on Governments, Gold, Money and Basel 3 7-11-2021
.The Survival Economist
This is Why Governments Hate Gold
They Hate Gold Because It's Not Government Money
Men have chosen the precious metals gold and silver for the money service on account of their mineralogical, physical, and chemical features. The use of money in a market economy is a praxeologically necessary fact.
That gold—and not something else—is used as money is merely a historical fact and as such cannot be conceived by catallactics.
The Survival Economist
This is Why Governments Hate Gold
They Hate Gold Because It's Not Government Money
Men have chosen the precious metals gold and silver for the money service on account of their mineralogical, physical, and chemical features. The use of money in a market economy is a praxeologically necessary fact.
That gold—and not something else—is used as money is merely a historical fact and as such cannot be conceived by catallactics.
In monetary history too, as in all other branches of history, one must resort to historical understanding. If one takes pleasure in calling the gold standard a "barbarous relic,"1 Lord Keynes in the speech delivered before the House of Lords, May 23. 1944. one cannot object to the application of the same term to every historically determined institution.
Then the fact that the British speak English — and not Danish, German, or French — is a barbarous relic too, and every Briton who opposes the substitution of Esperanto for English is no less dogmatic and orthodox than those who do not wax rapturous about the plans for a managed currency.
The Atlantis Report
The Truth about Gold and Money -- Is Gold Money ?
Premiered 50 minutes ago
The Truth about Gold and Money -- Is Gold Money ?
Money is anything that is generally accepted in payment for goods and services and in repayment of debts.
The main uses of money are as a medium of exchange, a unit of account, and a store of value.
British Clearing Banks Granted Basel Exemption: Gold, Silver, Bitcoin Market Update
Miles Harris: Jul 11, 2021
Miles Harris offers global macro insights and champions the importance of sound money in a world gone crazy.
News, Rumors and Opinions Sunday PM 7-11-2021
.From Fleming’s Site Sunday 7-11-2021
Cynthia: To all of the Fleming detractors here's what I have to say. Get a clue.
Fleming is not the author nor originator of these posts that he's sharing. He is given this information by the DoD, the very people directly responsible for the RV, and delivers verbatim, without edits. There is always interpretation. Sometimes we benefit from his direct communication, typically given verbally.
To these "Fleming detractors", he NEVER gets it wrong. To the grumblers complaining about yesterday's DoD message from DoD, it said, "Paid out to liquid accounts." This does not translate to SPENDABLE. Does not translate to anything other than what it says. Accounts all over the world are liquid, ready to be released.
From Fleming’s Site Sunday 7-11-2021
Cynthia: To all of the Fleming detractors here's what I have to say. Get a clue.
Fleming is not the author nor originator of these posts that he's sharing. He is given this information by the DoD, the very people directly responsible for the RV, and delivers verbatim, without edits. There is always interpretation. Sometimes we benefit from his direct communication, typically given verbally.
To these "Fleming detractors", he NEVER gets it wrong. To the grumblers complaining about yesterday's DoD message from DoD, it said, "Paid out to liquid accounts." This does not translate to SPENDABLE. Does not translate to anything other than what it says. Accounts all over the world are liquid, ready to be released.
I'm still happy with this last DoD update. We have all suffered and been lied to, fed constant propaganda. It's Gestapo tactics and US is being led by the Gulag regime.
It's time to stand together in appreciation for the delivery of details of "spendable/fully accessible money in accounts" is about to be announced. Only when we have Green Light audits of all participants accounts, and the verified compliance with all entities met, only then are we truly free of these chains that bind.
BOTTOM LINE, NO ONE GETS ANY SPENDING MONEY UNTIL TIER 4 B.
Thank you, Nick for standing for Tier 4 B. We all should thank Nick. We were never supposed to be allowed to exchange. Only the private groups were to redeem. Nick is instrumental in this opportunity. Nick is singularly instrumental in this Tier 4 B inclusion.
Maybe one day he can share with everyone what all has transpired. For now, to all detractors, please show some wisdom.
Courtesy of Dinar Guru https://www.dinarguru.com/
MilitiaMan Article: "Iraq begins construction of the largest submerged tunnel in the Middle East" They told us this week that there would be "BANK CREDIT" for paying contractors within 3 days for those contractors at the port of Faw. That was to have been done Wednesday. Now here in this article, they speak of issuing a letter of credit. Well, then they'll need an international accepted currency for that will they not? One that is digitized and where the imports can be taxed accordingly under the new automated system to be in place or is in place now...imo.
Frank26 Everything is IMO. You can ask any guru on the internet and they will tell you, 'Frank doesn't know what he's talking about.' They are the ones that tell you, 'According to my sources it happened yesterday!' I'll behave! :). The end of February, the beginning of March 2020 I told you IMO they have a date...Mustafa, the Fab 4 and the Governor of the Central bank have agreed. I told you in December they were actually ready to lift the value. We have the article where the IMF said very clearly Iraq is about to add value to their currency by the end of the year 2020. [post 1 of 2....stay tuned]
Frank26 It didn't come about because on December 20th...the Central Bank of Iraq asked the IMF 'could you please just hold on for a little bit...we would like to lower the value of our currency'...the number 1 reason was to fight against Iran. It worked...the other reason was to bring the citizens of Iraq into the banks to open up accounts...now every citizen is starting to understand what is being told to them in the last two and a half three weeks...we have about 11 articles...that tell you, 'we're changing the value of the exchange rate of our currency.'...things have been moving along very well. You see a lot of things that tell you this is happening. [post 2 of 2)
Iraqi Dinar update for 07/11/21
Pimpy’s investment Chat: Jul 11, 2021
CENTRAL BANKS VS CRYPTO: The Battle Lines Are Being Drawn…by LYNETTE ZANG
Jul 9, 2021
I talked about this day coming, three years ago. Let me say this just to be clear, I'm not against crypto. In fact many of our clients accumulate both Gold and Crypto. A big commonality between the people who own both, is the intention to hold their wealth outside of the system. Something that gold truly is. Plus, central bankers have had a lot of practice minimalizing and regulating competing currencies, something that gold and cryptos are.
If we know we're living in a surveillance economy, which we are, and we know digital currency supports the goals of the already established system, which they do, then it's time to start looking at how the central bankers are responding to the idea of long-term competition.
Pimpy's Thoughts on Dinar, Dong and June 28th. Monday 6-28-2021
.Courtesy of Dinar Guru
Pimpy There's a lot of chatter about the exchange rate. It just keeps going on and on. It's very interesting. A little nugget to tease you guys - when the Kuwait dinar changed it changed a couple days after they came out saying they had no intention on changing the rate for a long time. Two days later they changed it...
Courtesy of Dinar Guru
Pimpy There's a lot of chatter about the exchange rate. It just keeps going on and on. It's very interesting. A little nugget to tease you guys - when the Kuwait dinar changed it changed a couple days after they came out saying they had no intention on changing the rate for a long time. Two days later they changed it...
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What to expect on June 28th and where will the price of silver land
Pimpy’s Investment Chat: Jun 27, 2021
Iraqi Dinar update for 06/27/21- looking good
Pimpy’s Investment Chat: Jun 27, 2021
Vietnam Dong update for 06/27/21
Pimpy’s Investment Chat: Jun 27, 2021
Basel 3 to Trigger "Liquidity Squeeze" Gold Price could Be Looking at $2,100 by Year End.
Basel III to trigger 'liquidity squeeze,' gold price could be looking at $2,100 by year-end - Goldex CEO
Anna Golubova Tuesday June 22, 2021 15:53
Kitco News
(Kitco News) The risk with Basel III is a major shift towards allocated gold, which could trigger a liquidity squeeze in the physical metal and lead to higher prices by the end of the year, according to Goldex CEO Sylvia Carrasco.
The impact of the Basel III agreement, which will come into force on June 28, 2021, for European banks and on January 1, 2022, for British banks, is being debated by many gold industry experts, with opinions ranging from "everything will change" to "no impact at all."
Basel III to trigger 'liquidity squeeze,' gold price could be looking at $2,100 by year-end - Goldex CEO
Anna Golubova Tuesday June 22, 2021 15:53
Kitco News
(Kitco News) The risk with Basel III is a major shift towards allocated gold, which could trigger a liquidity squeeze in the physical metal and lead to higher prices by the end of the year, according to Goldex CEO Sylvia Carrasco.
The impact of the Basel III agreement, which will come into force on June 28, 2021, for European banks and on January 1, 2022, for British banks, is being debated by many gold industry experts, with opinions ranging from "everything will change" to "no impact at all."
Carrasco is in the camp that sees many people underestimate the impact of Basel III on the gold market.
"Basel III will affect the gold price more than many people believe. The spot price will definitely go up," Carrasco told Kitco News.
Basel III is an internationally agreed-upon set of measures developed by the Basel Committee on Banking Supervision in response to the financial crisis of 2007-09. Many of the measures deal with bank capital adequacy, stress testing, and market liquidity.
One of the biggest changes for gold is that the precious metal is being reclassified from a Tier 3 asset, which is the riskiest asset class, to a Tier 1 asset, which is currently designated for cash and currencies. The change could make it more expensive to buy and sell unallocated gold.
This is because Basel III includes the new Net Stable Funding Ratio (NSFR) requirement, which specifies that an 85% Required Stable Funding (RSF) needs to be held by banks against the financing and clearing of precious metals transactions. This is a big change from the pre-Basel III level of 0%, and it makes holding unallocated gold more expensive by equating it to the same level of risk as holding equities.
"Basel III requires banks or dealers to collateralize 85% of the value of their unallocated gold with a Tier 1 asset, which is cash," Carrasco said.
For example, if a bank has $1 billion in gold positions, with $300 million in allocated gold and the other $700 million in unallocated gold. Before Basel III, the bank didn't have to put any collaterals for those positions. But with Basel III, the $300 million positions in allocated gold are fine. But the $700 million positions in unallocated gold are now considered risky as equities and are put in the same risk category.
"Under Basel III, the bank would have to show that 85% of this $700 million is actually sitting on their balance sheet, and the bank is not touching it," Carrasco explained. "That has a tremendous cost of finance. The bullion banks need to find 85% of the nominal value of their unallocated gold position and fund it."
The risk here is that trading unallocated gold would become a money-losing business.
"Banks cannot continue charging practically no fees on unallocated gold. Could they have to increase their price by 100 times? Will clients be interested in trading at those prices?" Carrasco asked. "The risk is going to be a lot of banks shutting down because suddenly it is a money-losing business. That is Basel III in a nutshell."
Allocated vs. unallocated gold
Understanding the difference between allocated and unallocated gold is critical here.
Allocated gold is when a customer buys physical gold that has already been minted, and it is physically sitting in a vault. And that gold belongs directly to the customer.
"It is the only gold that truly belongs to the buyer with proof of ownership," Carrasco said.
Unallocated gold is like a form of credit, she described. Unallocated gold doesn't have to be in a vault, and it is like the client trading against the balance sheets of a bullion dealer.
"In this case, the bullion dealer does not have to have the gold. They are saying to the buyer — 'I promise you that I owe you gold. I refer to it as balance sheet gold," Carrasco said. "If anything happens to the bank, that gold doesn't belong to the buyer, and the buyer loses the position."
Also, unallocated gold can be sold 20 times to 20 people, whereas allocated gold can only be sold once. "That is the systemic risk that Basel III is worried about," she noted.
Liquidity squeeze to trigger $2,100 gold price by year-end
What these changes mean for the gold space is that the demand for physical gold will likely increase, putting the squeeze on liquidity, which in response is likely to trigger a rise in prices, Carrasco pointed out.
"Basel III sees a systemic risk. If for whatever reason these banks go into financial trouble, all these clients will lose their money," she said. "If unallocated gold becomes more expensive, that means that the only thing left to buy and sell is allocated. And if suddenly the eyes turn to the allocated gold, there should be an increase in demand in physical allocated gold. If there is an increase in demand, there will be a liquidity squeeze. And potentially, there will be an increase in allocated gold prices because there is less liquidity and there is more demand."
Just in London alone, the amount of unallocated gold traded on a daily basis is around $200 billion a day, Carrasco added.
"It is so enormous that an issue could create a massive systemic risk to the financial industry," she said. "LBMA is worried about this because the majority of trading that goes through LBMA is unallocated gold. They are asking their UK regulator to reconsider."
This is why Carrasco expects to see the biggest impact from Basel III towards the end of the year — right before the UK is impacted. Basel III has been postponed until January 1, 2022 in Britain.
Carrasco's minimum gold target for the end of this year is $2,100 an ounce.
"The biggest impact might be visible at the end of the year before January 1, if Basel III kicks in in the UK. In the last quarter of the year, we'll see an impact. At the very minimum, I can see gold go over $2,100 by the end of the year," she pointed out. "The highest amount of unallocated gold is traded in London. On June 28, only a third of European banks will have to abide by the new rules. The rest will only be affected from January 1, 2022, if this goes through in the UK."
Allocated gold is finite, and the unallocated gold is infinite, Carrasco added.
"If people turn to allocated gold, liquidity will be squeezed, and prices should go up. There are X amount of bars around until more is produced," she specified. "Bullion banks hedge themselves with COMEX futures. They have tremendous short positions in COMEX, and they are getting rid of them. If from the end of June they need to start selling their short positions, that automatically creates an increase in the price of gold."
Read full post here: https://www.kitco.com/news/2021-06-22/Basel-III-to-trigger-liquidity-squeeze-gold-price-could-be-looking-at-2-100-by-year-end-Goldex-CEO.html
Basel III to trigger 'liquidity squeeze,' taking gold price to $2,100 by year-end
Kitco News: Jun 26, 2021
Economists Alastair Macleod and Max Keiser Saturday 6-26-2021
.Alasdair Macleod: Basel III - Gold Up $100s Overnight! The Stuff Of Nightmares When You Can't Get It
As Good as Gold Australia
In this absorbing interview, Brian and Darryl Panes from As Good As Gold Australia discuss the aftermath of Basel 3 with Alasdair Macleod, Head of Research at GoldMoney and recently appointed, Advisor to AGAGA.
How will the COMEX be impacted when the BIS makes the proposed changes to the banking criteria?
Historically, the banking sector and financial institutions have been known to be major influences in the suppression of gold and silver prices. Why would they agree to a policy that would increase the price of both metals?
Alasdair Macleod: Basel III - Gold Up $100s Overnight! The Stuff Of Nightmares When You Can't Get It
As Good as Gold Australia
In this absorbing interview, Brian and Darryl Panes from As Good As Gold Australia discuss the aftermath of Basel 3 with Alasdair Macleod, Head of Research at GoldMoney and recently appointed, Advisor to AGAGA.
How will the COMEX be impacted when the BIS makes the proposed changes to the banking criteria?
Historically, the banking sector and financial institutions have been known to be major influences in the suppression of gold and silver prices. Why would they agree to a policy that would increase the price of both metals?
With the trillions of US dollars being printed, how long can we expect to see this inflationary trend continue?
The month of May saw the longest rise in food prices in 10 years, reported by the "World Food and Agriculture Organisation".
Many bullion dealers are reporting delivery times on silver products up to 4-6 weeks.
As demand for the shiny metal escalates, what will that mean for the precious metals investor? Will it be accessible at all?
Alasdair answers all of the above and much more.
Keiser Report | The profit vs plunder motive | E1715
Jun 26, 2021
In this episode of Keiser Report, Max and Stacy discuss how the profit motive is better than the plunder model in terms of achieving favorable long-term outcomes for an economy.
Hegemonic powers going back thousands of years have ultimately resorted to the plunder rather than competitive profit model and inevitably end up losing their power as a result.
They discuss the Great Hashpower Migration out of China as an example.
Bix Weir, Mike Maloney and more Friday PM 6-25-2021
.Sound Money vs. Fiat Money : Effects on the Boom Bust Cycle
June 24, 2021
Sound Money vs. Fiat Money : Effects on the Boom Bust Cycle According to the Austrian business cycle theory (ABCT), the boom-bust cycle emerges in response to a deviation in the market interest rate from the natural interest rate, or the equilibrium interest rate.
It is held that the major cause for this deviation is increases in the money supply. Based on this it would appear that on a gold standard……
Sound Money vs. Fiat Money : Effects on the Boom Bust Cycle
The Nomad Economist: June 24, 2021
Sound Money vs. Fiat Money : Effects on the Boom Bust Cycle According to the Austrian business cycle theory (ABCT), the boom-bust cycle emerges in response to a deviation in the market interest rate from the natural interest rate, or the equilibrium interest rate.
It is held that the major cause for this deviation is increases in the money supply. Based on this it would appear that on a gold standard……
For the full transcript go to https://financearmageddon.blogspot.com
SILVER ALERT! 2 More Trading Days til July Delivery MONSTER! (Bix Weir)
Jun 25, 2021
Mike Maloney
The Great Reset: SDRs, Deflation & Gold's Coming Catch Up Phase
Premiered Jun 24, 2021
The ‘Great Reset’ is coming - but what is it? What role will the ‘SDR’ play? What does it entail for holders of precious metals?
Bis Weir and Pimpy Wednesday Evening 6-24-2021
.Bix Weir
ALERT! Silver Riggers NEED Once Last SLAM Before Tuesday!!
Jun 23, 2021
Silver open interest for July is still OFF THE CHARTS with the June contact expiring in only 4 DAYS!
Currently the open interest is close to 300 Million Ounces and UNLESS "They" slam the price down by next Tuesday we may see the BIGGEST SILVER DELIVERY MONTH in HISTORY!
Time will tell.
Bix Weir
ALERT! Silver Riggers NEED Once Last SLAM Before Tuesday!!
Jun 23, 2021
Silver open interest for July is still OFF THE CHARTS with the June contact expiring in only 4 DAYS!
Currently the open interest is close to 300 Million Ounces and UNLESS "They" slam the price down by next Tuesday we may see the BIGGEST SILVER DELIVERY MONTH in HISTORY!
Time will tell.
Hello, World!
All states should follow what Texas did with gold and silver
Pimpy’s Investment Chat: Jun 22, 2021
News, Rumors and Opinions Monday PM 6-21-2021
.Second Fleming RV Report Monday 6-21-2021\
Our military intel contact can’t say much except that IMF had to finish rate coordination after Iraq finished, the RV teams meeting and pointing fingers today means they are PUSHING HARD for the release right now,
His info agrees with Isaac’s info of “positive news for this week”; and his info agrees with the intel from Mr Fleming’s source who said, “There was a meeting today to determine who did what in causing the RV delay last night. The parties attending included: DOD, IMF, UST, WF, HSBC, and the specific principals from Iraq involved, all of the parties involved in the release.
The meeting was a lot of contentious finger pointing, but the end result was a unanimous - push this out right now decision. It's all in process.”
Second Fleming RV Report Monday 6-21-2021\
Our military intel contact can’t say much except that IMF had to finish rate coordination after Iraq finished, the RV teams meeting and pointing fingers today means they are PUSHING HARD for the release right now,
His info agrees with Isaac’s info of “positive news for this week”; and his info agrees with the intel from Mr Fleming’s source who said, “There was a meeting today to determine who did what in causing the RV delay last night. The parties attending included: DOD, IMF, UST, WF, HSBC, and the specific principals from Iraq involved, all of the parties involved in the release.
The meeting was a lot of contentious finger pointing, but the end result was a unanimous - push this out right now decision. It's all in process.”
He said they are doing what they need to behind the scenes to get it out, help them with prayers, as this is STILL our time—get ready for incredible freedom coming dead ahead, he said.
He also appreciated Mr Fleming’s background on the history of American Central Banking to the present.(edited)
KTFA:
Don961: Mazhar Muhammad Salih: Directions to write off 41 billion dollars for 8 countries, 100 percent
Mazhar Muhammad Salih, the financial advisor to the Prime Minister, confirmed that Iraq's foreign debts are almost dead with the passage of time.
Saleh said, in press statements, that Iraq's foreign debt is estimated at forty-one billion dollars, and it belongs to eight countries, six of which are Arab, in addition to Turkey and two foreign countries, and other matters.
This, and the financial advisor to the Prime Minister continued that the trend is towards writing them off one hundred percent, noting that they are almost dead with the passage of time, especially since some of them are incorrect and completely unknown documents. LINK
Iobey777: WOW!! I wish all my debts would suddenly be gone 100%!! Whoohoo!! Maybe SOON!!
OlLar: Sounds like the "Paris Club" debt agreement is about to come to fruition, OH BUDDY.
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Samson: Warnings of the loss of Iraq's money abroad and parliamentary calls to legislate a law to recover it
08:55 - 06/21/2021
On Monday, members of the House of Representatives called for the enactment of a law to recover that money before the end of the current parliamentary session so that it does not go into the pockets of the corrupt.
A member of the Finance Committee, Ahmed Suleiman, told Al-Maalouma, "Iraq possesses frozen and smuggled sums in foreign banks estimated at about 500 billion dollars, which requires the executive authority to move quickly to recover them and address the financial situation."
On the other hand, the representative of the Al-Fateh Alliance, Hassan Shaker, warned in a statement to “The Information” of “the danger of the smuggled money going to the pockets of the corrupt, especially since the government did not make clear any seriousness to recover those funds,” stressing “the need to expedite the legislation of the Iraqi money recovery law.” abroad and not to carry over its law to the next parliamentary session.”
In addition, the legal expert, Tariq Harb, told Al-Maalouma that “there is great importance to legislating the aforementioned law, in addition to that it does not need more than a week in Parliament, in addition to that it depends on the judicial and punitive side and not only the seizure of funds, as well as on the international side. And not just internal. LINK
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Samson: China surprised the world with an oil discovery
06/21/21 15:41:13
The giant Chinese oil company, CNPC, announced the discovery of the largest shale oil reserves in China with a volume of one billion tons.
The company stated that new reserves of shale oil were explored in the Ordos field in the Chinese province of Gansu.
China began large-scale exploration and production of shale oil in Qingqing County, Gansu Province in 2019.
According to some forecasts, this will allow to stop China's increasing dependence on imported oil from abroad.
Available data indicate that China currently imports about 70% of national oil consumption. LINK
ALERT! Silver Riggers Dump 1 Billion oz in 1 Day to "Tamp Down" Price! (Bix Weir)
Jun 21, 2021
The Silver Riggers are panicking! On Thursday they dumped 1,063,130 oz of Silver Derivatives on the COMEX to "Tamp Down" the price below tech moving averages.
This ONLY happens when they are in TROUBLE!
Basel III Causing Gold's Volatility?
.Basel III: Causing Gold's Volatility?
Palisades Gold Radio: Jun 19, 2021
Tom welcomes a seasoned group of experts on the gold markets to discuss the upcoming Basel III changes to banking regulations and their potential impact.
We are joined by Bob Coleman, Vincent Lanci, Adrian Day, and Keith Weiner.
Keith discusses the reasons for the Basel III regulation in stabilizing the banking system. He argues these regulations will cause banks to be increasingly reluctant to participate in the gold business because of increased costs.
Basel III: Causing Gold's Volatility?
Palisades Gold Radio: Jun 19, 2021
Tom welcomes a seasoned group of experts on the gold markets to discuss the upcoming Basel III changes to banking regulations and their potential impact.
We are joined by Bob Coleman, Vincent Lanci, Adrian Day, and Keith Weiner.
Keith discusses the reasons for the Basel III regulation in stabilizing the banking system. He argues these regulations will cause banks to be increasingly reluctant to participate in the gold business because of increased costs.
As a result, some of these costs will be passed on and enter the retail markets. The LBMA has an extension on implementation and would prefer to be exempted from the Basel III regulations.
The LBMA may disappear if they have to comply with all these requirements. They have been arguing that there is no default risk with gold. These rules tighten up the market and may increase supply issues for those in the markets.
However, with fewer players, there may be more direct price discovery. In addition, the costs of hedging will rise, and this may kill off some of the marginal players in the industry.
When government intrudes into a market, they add extra friction, resulting in fewer transactions, and those on the margin are often forced out.
Adrian argues that banks aren't likely to acquire gold due to Basel III, contrary to many opinions of so-called experts in the gold space. Banks have lots of options in the tier one assets they can hold, and most banks today have large excess reserves already.
Bob discusses the possible impacts on the US dollar with these regulations. Since late February, there has been a lot of activity in the Repo markets where the bond markets started to crack.
He believes they may be deliberately trying to reduce counterparty risk by deleveraging gold.
Recent moves in gold have seen a move from weak hands to stronger hands. Adrian says, "The recent Fed news stories should have been headlined "Fed won't raise rates for two years." Instead, this market is reacting to thinner volumes, thinner exposure, and we now have a Fed that is beginning to say they will tighten.
Unallocated gold at the bank is not your asset; it's the bank's asset. If you are buying gold as insurance, the last thing you want is unallocated gold. Instead, hold and own physical metal yourself or at a depository in your name.
Time Stamp References:
0:00 - Introductions
1:14 - Basel III & Gold
5:15 - Good For Gold?
10:16 - LBMA & Basel III
13:48 - 85% Reserves?
17:14 - Tying it Together
23:15 - Not A Surprise
24:36 - Gold Deliveries
27:22 - Refiners & Comex
28:36 - Dollar Effects
38:24 - Golds Recent Moves
44:45 - Gold Basis Chart
50:00 - Recent Volatility
1:00:47 - Geopolitical Issues
1:05:02 - Unallocated Gold & Risk
1:09:26 - Final Thoughts
Talking Points From This Episode –
- Basel III Regulations and potential impacts on banks and gold markets.
- Regulation costs may be passed onto retail investors.
- Thoughts on recent volatility in the gold markets and the dollar.
- Risks with treating unallocated gold investments as insurance.