Category: Economics & Investing

Silver Coin Premiums Soar Above 50% o o o Coming Soon: QE 4 o o o German Central Bank Publishes Gold Bar List. JWR’s Comment: I find it curious that while at the same time that governments and central banks berate gold as a “barbarous relic” that is entirely disconnected from their monetary policies, they seem quite concerned with keeping big piles of it, under lock an key. Items from The Economics Team: Greece Could Return to Bond Markets Soon After a Restructuring of its Debt, Tsipras Says (Wall Street Journal. Subscription required for full text) Question: What does Tsipras …

Inflation Watch – Butter Prices Hit All-Time Record High o o o Record 94,610,000 Americans Not in Labor Force; Participation Rate Lowest in 38 Years Items from The Economics Team: How Bad Can It Get? …and How Fast? (Zero Hedge) World’s Largest Shipowners Looking to Get Out of Greece (Zero Hedge) Government can’t tax an economy into prosperity! Chinese Execs Feel the Chill (Reuters) Is China growing at 7%? Really???

Just like clockwork, Spot Silver is emerging from the regular summer doldrums. It is noteworthy that the physical market is now very far removed from the spot and futures markets. There is a huge shortage of silver coins and small bars, and dealers are commanding huge premiums above spot. With spot silver now around $15.60 per ounce, you will be lucky to find even generic one-ounce rounds selling for less than $22 each, and U.S. Mint American Eagles are a couple of dollars more. o o o Record ATM Fees Rise Toward $5 o o o Jim Willie: Checkmate! In …

Vegas Casinos Fight to Buy Their Own Electricity o o o Ron Paul predicts a monumental crash in interview on Russia Today: Bubbles are all over the place. (Video.) Items from The Economics Team: 7 Ways to Sample Living with Less (Becoming Minimalist) Investors Brace for Market Fall (Reuters) U.S. Currency Laundered by Mexican Drug Cartles through the Middle East (Breitbart) The System Designed to Prevent Financial Crisis is Likely to Fail (MarketWatch) Asian Markets Fall as Fears Deepen Over China Slowdown (The Guardian) A reminder: In an economically interconnected world, there is no “containment”!

Reader Emily G. suggested this interesting New York Times article: Trading Meat for Tires as Bartering Economy Grows in Greece Items from The Economics Team: ConAgra Foods Lays Off 1,500 (Salt Lake Tribune) Chesapeake Energy Lays Off 740 (KFOR News Channel 4) Whole Foods Lays Off 1500 (CNBC) 20 Largest U.S. Layoffs in 2015 (ZeroHedge)

India Versus COMEX: Physical Silver Demand Will Destroy Paper Rigged Markets o o o There are Five Times More Claims on Dollars Than Dollars in Existence (Zero Hedge) Items from The Economics Team: Glencore Could Spark a Lehman Moment for Miners The More Americans Know Congress, the Worse Congress is Rated Atlanta Fed Slashes 3rd Quarter Estimates for Growth (Reuters) U.S. Factories Vulnerable to Chill in Global Economy (Reuters) Investment Banking Business is a Horror Show (Business Insider) Demand for Physical Silver through the Roof (Zero Hedge)

Municipal Bankruptcies and more on the way o o o Paul Caron: 2015 International Tax Competitiveness Ranking: U.S. Is 32 Out Of 34 OECD Countries o o o Dr. Housing Bubble reports: Chicago overtakes Detroit as the worst performing housing market: San Diego outperforms while Los Angeles hits a snag. Items from The Economics Team: Ron Paul Rages “They” Refuse To Learn From Their Mistakes – Put perfectly… (No surprise that this is from Ron Paul.) Year End Government Spending Spree – Spend It or Lose It Leads to Government Waste of Taxpayer Dollars American Manufacturing is in Recession

Why US Rates Can Never Rise: In 1 Awkward Chart o o o The Mises Institute Podcast interviews Bill Bonner o o o At The Blaze: You Might Have Gotten a New Credit Card With a New Chip Embedded in the Front — Here’s What You Need to Know About It Items from The Economics Team: UBS Is About To Blow The Cover On A Massive Gold-Rigging Scandal Swiss Regulator Names Seven Banks in Precious Metals Probe Understand and Prevent Identity Theft

Preparing For Collapse: Record Eight-Year Silver Buying Intensity Continues o o o Chris Martenson: Buy Gold While You Still Can! — An important update on the supply of physical gold o o o BofA Issues Dramatic Junk Bond Meltdown Warning: This “Train Wreck Is Accelerating” Items from The Economics Team: The Hard Landing Has Arrived: Chinese Coal Company Lays Off 100,000 (Zero Hedge) Wallstreet Braces for Grim 3rd Quarter Earnings Results (Reuters) Clark Howard: Don’t Fall for Scams!

Reader S.J. asked about an update on the Bullion Direct debacle that was first publicized back in June. There is a good summary on the bankruptcy here. Needless to say, this bankruptcy–which involved $25 million in physical gold purchases that were never made on behalf of customers–illustrates just how foolish it is to entrust your precious metals with any institution. Keep them well-hidden at home, folks! o o o Switzerland probes banks over precious metals price fixing o o o Over at Zero Hedge: TheWorst Part Is Central Bankers Know Exactly What They Are Doing Items from The Economics Team: …

Simon Black at Sovereign Man: The global financial system is now resting on a margin of 1.3% o o o Chart of the Day: Shanghai Stock Exchange Composite Index. o o o MarcFaber Warns Americans of Economic Collapse o o o Reader D.S.V. recommended this piece: Taxing Churches Would Marry Church And State Items from The Economics Team: The Next U.S. Recession Will Surprise Investors Give Your Grocery Shopping List an Extreme Makeover Glencore in Freefall as Analysts See Tougher Restructuring Glencore shares are getting obliterated and analysts say shareholders could lose everything

Peter Schiff visits CNBC: The Whole World Has Been Fooled By The Fed’s Con o o o The Stock Market has become the U.S. Economy Items from The Economics Team: 1 in 5 Americans Supported by Social Security How to Trim 3 Budget Categories Dave Ramsey’s 7 Baby Steps to Financial Independence

Reader L.L.H. spotted this at Zero Hedge: Caterpillar Shocker: Industrial Bellwether to Fire Up to 10,000; Slashes Revenue Outlook o o o And here is another good piece at Zero Hedge: Obama’s Recovery in Just Nine Charts o o o Wall Street braces for grim third quarter earnings season