by Andrew Hoffman
Over the past four years, the Cartel has cast a pall over nearly every holiday “trading” session – by using ultra-thin trading conditions to push paper gold and silver prices lower, whilst 99% of Americans rest and relax. However, this weekend’s shenanigans took the cake – as at one point on Sunday night, I was steeling myself for a special “Memorial Day Massacre” Audioblog.
I mean, this weekend’s only news was the huge Yuan devaluation on Sunday night – of nearly 0.5%, to its lowest level in more than five years. And yet, not only was the usual “Sunday Night Sentiment” raid executed – the 145th of the past 151 weekends – but prices were actually attacked Monday morning and afternoon, despite the COMEX being closed! I mean, how on Earth is this possible?
Continue Reading at MilesFranklin.com…
by Pater Tenebrarum
An Alert for the Global Posse of Liquidity Junkies
In the summer of 2015 and again in December-February this year, global stock markets were rattled by weakness in the yuan’s exchange rate vs. the US dollar. Yuan weakness is widely held to exacerbate pressures on other (already weak) emerging market currencies, but more importantly, it is seen as a symptom of accelerating capital flight from China.
[…] Why is it considered important whether or not China’s foreign exchange reserves are increasing or declining? Similar to Japan, China has become a major cog in the global fiat money Ponzi game, in which foreign central banks monetize US treasury bonds by recycling dollar-denominated trade surpluses.
Continue Reading at Acting-Man.com…
by Greg Guenthner
If last week’s market action left your head spinning over the holiday weekend, it’s time to take a break…
Here’s a quick story for you:
A guy calls his broker and asks to buy 400 shares of an obscure tech firm called Ultrasonics Precision.
The curious broker asks what’s so special about Ultrasonics. His customer tells him he’s not sure– his barber told him to buy it.
Continue Reading at DailyReckoning.com…
SEC looking at issue of non-GAAP metric abuse
by Francine McKenna
The Securities and Exchange Commission is taking another step to crack down on corporate use of numbers that the agency fears deceives investors.
The SEC’s Division of Corporation Finance is forming an internal task force to closely review the use of “non-GAAP” numbers and whether companies respond to recently updated guidance on using these metrics.
So-called comment letters will go to companies that don’t comply with the new guidance in their second quarter earnings releases.
The SEC’s corporation finance division issues comment letters to companies to request additional supplemental information or request a revision in its filing with the agency.
Continue Reading at MarketWatch.com…
Prices are down 6.4% this month.
by Ranjeetha Pakiam and Thomas Biesheuvel (Bloomberg)
Gold advanced for the first time in ten days to snap its longest selloff in more than a year before data from the US that may determine the timing of monetary policy tightening.
Bullion for immediate delivery rose as much as 0.8% to $1 214.63 an ounce, before trading at $1 211.44 by 11:28am in London, according to Bloomberg generic pricing. Prices dropped to $1 199.80 on Monday, the lowest intraday level since February 17, and are down 6.4% this month, set for the biggest monthly decline since November.
Gold has slumped in May, trimming this year’s rally, as Federal Reserve chair Janet Yellen indicated that an interest-rate increase may be warranted in the coming months. Bets on a rate hike have risen to 30% for June and the odds are more than even for an increase by July, according to Fed funds futures.
Continue Reading at MineWeb.com…
by Brandon White
“Trader Dan” Norcini, to whose May 24 commentary —
— GATA Secretary/Treasurer Chris Powell replied Monday —
— is mistaken. Investing isn’t just about being “right.” It is also about being moral.
If technical analysis showed a buy signal, then presumably Norcini would buy Monsanto, or cluster-bomb maker Alliant Techsystems, or a cosmetics manufacturer that tests its products on puppies.
Continue Reading at GATA.org…
by Chris Campbell
Laissez Faire Books
“To do this successfully,” Stephen Ruth, 42, of Suffolk County, NY, said in a Youtube video, “you only need a pair of balls and a painter’s extension rod.
“I’m going to show you how easy it is to take the power back.”
As we reflect on the Memorial Day festivities, many of us are undoubtedly reminded of the extortion racket that is the “driving tax”… also known as the speeding ticket fine… also known as the cop’s favorite racket.
That’s why today’s episode kicks off our Laissez Faire’s Civil Disobedience Week. It’s like Shark Week, but much more exciting. All week, we’re going to show you ways to fight the power and… if you do it right and with enough gusto… win.
Continue Reading at LFB.org…
by Gerardo Del Real
Gold prices hit a two-month low last week, and have been down for eight straight sessions.
Speculation that interest rate hikes may be closer than most analysts expected have led gold down nearly 6% for the month of May.
The dollar index has pushed higher and is up approximately 2.4% in May.
I expect dollar strength and lower gold prices to continue throughout the summer months and will be looking to add to the Resource Stock Digest Premium portfolio.
Continue Reading at OutsiderClub.com…
from Investment Research Dynamics
The past two days of ongoing metals oppression convinced me to write. This continuing government-conducted fraud and corruption is really getting irritating, and it tells an ominous tale.
Is it any wonder that we witness endless versions of “Extend and Pretend”? That we witness endless strangulation of the truth, such as is represented by free metals prices? That the nation is drowning in propaganda and lies so thick they could double the mass of our oceans?
They are going to keep this fraud going as long as they can, because every single day represents $2,800,000,000.00 in looted profits. The Middle Class has no idea what has been done to it. This is what has been done to it.
Continue Reading at InvestmentResearchDynamics.com…