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#1 2014-06-12 18:52:59

AinslieBullion
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Ainslie Bullion - Daily news, Weekly Radio and Discussions

Hi - we'll post our daily discussions in here, so just follow the thread to receive updates whenever we submit new stuff.
We'll also let you know when our weekly Ainslie Radio is released (you can listen to this on any device, just click on the link). Ainslie Radio is a 3-4 minute summary of all things bullion from the week that's been. Comment where you like. If you have any questions, we'll try our hardest to help you. If you have any product questions, be sure to visit our website and have a poke around.

- Here's today's Ainslie Radio > 13th June 2014

#AinslieRadio - enjoy your weekly soundbite of bullion news, from around the world.
The Aussie dollar continues to rise! Shares take a hit, US surplus non-existent since the 60's and the Middle East joins the spotlight yet again. Everything you need in bullion news, with Ainslie Radio.
https://www.ainsliebullion.com.au/gold- … fault.aspx


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#2 2014-06-12 19:35:17

badhammy
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

Hi - we'll post our daily discussions in here, so just follow the thread to receive updates whenever we submit new stuff.

How about taking up a site sponsorship in that case and support our community.  roll

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#3 2014-06-15 19:09:00

AinslieBullion
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

China positioning to control gold

There's an old saying 'he who holds the gold makes the rules'.  Well the head of the Shanghai Gold Exchange (SGE) has just made it abundantly clear that the new world powerhouse in gold wants to see a move away from pricing determined by paper trading in New York and the London Fix, especially in light of the current questions of manipulation over the latter.  He said in 2013 SGE saw 428 tonne of Chinese production and 1540 tonne net imports, dwarfing anything elsewhere in the world.  He says they have a clear agenda of having an influence on world pricing and management to match the scale of their trade and also are seeking to see SGE (who already have 8,000 institutional and 5 million individual investors) internationalised with more trade done in Renminbi / Yuan not USD.  Sound familiar….?


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#4 2014-06-15 22:02:54

badhammy
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

roll

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#5 2014-06-16 18:56:55

AinslieBullion
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

The (Indian) Elephant in the room

March import figures just released show an 88% increase in gold imports into India over February and the highest in 10 months.  This is despite premiums of nearly 15% over the already stifling 10% import duty and the 80/20 import/export limitations rule, and before the election results were known.  Many are now waiting in anticipation of newly elected Modi's first budget in July. 

Whilst he may not simply remove the duties and import/export limitations altogether, India is already seeing increased exports and a rising rupee which begins to remove the very reason for the restrictions (gold was killing their current account deficit) and coincides with being just before the traditionally high demand wedding season.  In a world already consuming more physical gold than that being produced, unleashing the India elephant back into the market will be a very very interesting dynamic.


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#6 2014-06-16 19:21:14

REDBACK
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

AinslieBullion wrote:

China positioning to control gold

There's an old saying 'he who holds the gold makes the rules'.  Well the head of the Shanghai Gold Exchange (SGE) has just made it abundantly clear that the new world powerhouse in gold wants to see a move away from pricing determined by paper trading in New York and the London Fix, especially in light of the current questions of manipulation over the latter.  He said in 2013 SGE saw 428 tonne of Chinese production and 1540 tonne net imports, dwarfing anything elsewhere in the world.  He says they have a clear agenda of having an influence on world pricing and management to match the scale of their trade and also are seeking to see SGE (who already have 8,000 institutional and 5 million individual investors) internationalised with more trade done in Renminbi / Yuan not USD.  Sound familiar….?

Can you please provide a reference for the source of information used in this and future commentary.
Cheers
REDBACK


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#7 2014-06-16 22:44:47

badhammy
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From: Betelgeuse
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

REDBACK wrote:
AinslieBullion wrote:

China positioning to control gold

There's an old saying 'he who holds the gold makes the rules'.  Well the head of the Shanghai Gold Exchange (SGE) has just made it abundantly clear that the new world powerhouse in gold wants to see a move away from pricing determined by paper trading in New York and the London Fix, especially in light of the current questions of manipulation over the latter.  He said in 2013 SGE saw 428 tonne of Chinese production and 1540 tonne net imports, dwarfing anything elsewhere in the world.  He says they have a clear agenda of having an influence on world pricing and management to match the scale of their trade and also are seeking to see SGE (who already have 8,000 institutional and 5 million individual investors) internationalised with more trade done in Renminbi / Yuan not USD.  Sound familiar….?

Can you please provide a reference for the source of information used in this and future commentary.
Cheers
REDBACK

Both "posts" look to be regurgitated from zerohedge.com

Last edited by badhammy (2014-06-16 22:46:42)

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#8 2014-06-17 00:14:50

REDBACK
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From: Trump supporters matter
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

badhammy wrote:
REDBACK wrote:
AinslieBullion wrote:

China positioning to control gold

There's an old saying 'he who holds the gold makes the rules'.  Well the head of the Shanghai Gold Exchange (SGE) has just made it abundantly clear that the new world powerhouse in gold wants to see a move away from pricing determined by paper trading in New York and the London Fix, especially in light of the current questions of manipulation over the latter.  He said in 2013 SGE saw 428 tonne of Chinese production and 1540 tonne net imports, dwarfing anything elsewhere in the world.  He says they have a clear agenda of having an influence on world pricing and management to match the scale of their trade and also are seeking to see SGE (who already have 8,000 institutional and 5 million individual investors) internationalised with more trade done in Renminbi / Yuan not USD.  Sound familiar….?

Can you please provide a reference for the source of information used in this and future commentary.
Cheers
REDBACK

Both "posts" look to be regurgitated from zerohedge.com

I am extremly lazy in my typing at times.
My main reason for asking for a reference is to be able to further research the information presented and check the integrity & strength of the source.
Appreciate the input Ainslie-can you make your snapshots more detailed so i dont have to go off site?
Cheers
REDBACK


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#9 2014-06-17 19:23:03

AinslieBullion
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

We'll endeavour to place detail where we can - though at present, with our daily news we try to produce some bite sized news that is reasonably quick to digest.
Thanks for the feedback, we'll take it on board.


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#10 2014-06-17 19:23:35

AinslieBullion
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

Pumping or propping?
Central Bank research and advisory group OMFIF has released a report showing $29.1 trillion has been invested in equities markets which "could potentially contribute to overheated asset prices".  Whilst on face value it could be CB's looking for yield in the zero interest rate environment they created, it could also be part of the 'recovery show' getting everyone to believe that things are great because sharemarkets are booming, ironically using printed money. 

Part of the play too looks like China, the biggest investor, is strategically taking minority holdings in Euro companies which "counters the monopoly power of the [US] dollar" as China continues to position its currency as an alternative to the USD and Beijing as the global financial powerhouse.  If you consider that $29 trillion is just a tad under half of the total value of all stock markets in the world, ask yourself how this could not end in tears (for those not owning gold and silver that is….).


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#11 2014-06-17 21:03:14

badhammy
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

AinslieBullion wrote:

We'll endeavour to place detail where we can - though at present, with our daily news we try to produce some bite sized news that is reasonably quick to digest.
Thanks for the feedback, we'll take it on board.

  ....so we'll just keep sprouting unreferenced opinions that any one of Silver Stackers' members often post with sources and with far more provoking notations.

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#12 2014-06-18 19:11:22

AinslieBullion
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

Comical COMEX Silver
So lets do some math.  For context, in 2013 there was 820m oz of silver mined.  That's the real stuff.  In the 'paper' futures market there is currently close to that very same figure, 820m oz of open interest yet with only 176 m oz in total sitting in COMEX.  So the total contractual obligations equal world mine supply and there is less than a quarter available.  For the next delivery month of July there is nearly 350m oz of open interest yet right now there's only about 60m oz of silver registered for delivery.  So we have a situation that if all the July silver longs stood for delivery they would outstrip supply immediately available by 6 times or theoretically available by 2 times. There is no other market in the world so 'comically' out of whack and it highlights the merits of holding the real thing, real silver bullion…We'll talk tomorrow about new developments in the other 'paper' market, ETFs…

And on a 'silver' note… our 2014 limited mint PM Saltwater Crocs and scrambling out the door pretty fast. If you'd like to secure yours, jump over to Ainslie.

croc.jpg
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#13 2014-06-19 05:12:37

badhammy
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

New Miracle Metal may provide industrial Breakthrough...sources say

Adamantium is a very dense, artificial, iron-based alloy that is virtually indestructible. A sufficient amount is capable of surviving multiple nuclear explosions with no damage. A pure blade of Adamantium is capable of cutting almost any known substance, with the known exceptions of Adamantium itself and Captain America's shield. The ability to slice completely through a substance with an Adamantium blade depends upon the amount of force being exerted and the density of the material in question. Adamantium, its degree of density, makes a very thick metal capable of drilling with greater effectiveness than the Vibranium. 

Creating even a small amount of Adamantium is astronomically expensive, and only a few people know the complete formula. Adamantium is created by mixing certain chemical resins together. The exact composition of these resins is a closely guarded secret of the United States government. When these resins are mixed and kept at a temperature of 1,500 degrees Fahrenheit, the resulting liquid can be cast or worked into a particular shape. After eight minutes, the mixture sets and becomes solid. Its molecular structure is extremely stable, and its shape can only be altered by precise molecular rearrangement. However, due to the sheer density of Adamantium, there are few known forces capable of altering its molecular structure.

Although True Adamantium is thought to be indestructible, there are at least two known examples of the alloy within the Earth-616 reality sustaining damage without molecular manipulation. The first involved Thor focusing all of his strength into striking a small cylinder of adamantium with Mjolnir, which only slightly dented. The second incident involved a battle between Ultron and the Hulk. During the fight, the Hulk punched the robot with enough force to slightly dent it. (Both instances were later revealed to have been only Secondary Adamantium)

Because True Adamantium is exceptionally difficult and expensive to create, various researchers found a more cost-effective way to duplicate it, at the expense of quality and durability. This alternate version, referred to as Secondary Adamantium, is considerably stronger than even titanium and is resistant against most assaults. However, assaults from sufficiently powerful weapons or beings can warp or break it.

In the Marvel Universe, adamantium is a group of man-made metal alloys of varying durability, but all are nearly indestructible. Adamantium was inadvertently invented by the American metallurgist Dr. Myron MacLain in an attempt to recreate his prior discovery, a unique alloy of steel and vibranium (which required an unknown catalyst for its manufacture) that was used to create Captain America's shield.

Before molding, the components of the alloy are kept in separate batches, typically in blocks of resin. Adamantium is prepared by melting the blocks together, mixing the components while the resin evaporates. The alloy must then be cast within eight minutes. Adamantium's extremely stable molecular structure prevents it from being further molded even if the temperature is high enough to keep it in its liquified form. In its solid form, it is colorless, shiny, and resembles high-grade steel or titanium.  It is almost impossible to destroy or fracture in this state and when crafted to a razor edge, it can penetrate most lesser materials with minimal application of strength.

Despite its utility in armament and armature, adamantium is rarely used due to its high cost and inability to be reshaped.

Wolverine once discovered an adamantium-laced skull in Apocalypse's laboratory and said it seemed to have been there for eons.

The U.S. government has shared the secret of Adamantium's composition with certain allies, through the information has fallen into unauthorized hands. Attempts by the former Solviet Union to reproduce the metal resulted in the creation of Carbonadium, a weaker yet far more malleable form that was used to create retractable coils wielded by the Russian super-soldier Omega Red. Due to the prohibitive cost of Adamantium's creation, many parties have resorted to the use of a somewhat weaker compound named Secondary Adamantium, which was once used to coat the sentient computer named F.A.U.S.T..

The Japanese scientist Lord Dark Wind was the first to propose a procedure by which Adamantium could be bonded to a human skeleton. Dark Wind's theory was practiced by the ClanDestine Weapon X Program who subjected their former mutant operative, Wolverine, to the procedure. Wolverine's mutant healing factor allowed him to survive the process and induced a molecular change in the metal, transforming it into a wholly new metal, named Adamantium Beta that does not inhibit the biological processes of bone.

Dark Wind himself performed a similar procedure on the assassin Bullseye to replace some of his bones, while Weapon X repeated their earlier success with the feral mutant Sabretooth. A similar process was performed on the mutant mercenary Cyber to lace his skin with Adamantium, and the cyborg Donald Pierce once used the metal to rebuild his then-shattered form. The metal has also been used to coat certain robots, such as the superhuman-hunting TESS-One and to forge others such as the megalomaniacal Ultrons.

The Adamatco company in New Jersey has developed a procedure to coat objects with a thin layer of Adamantium. As a result, the plant has been targeted by such costumed criminals as the Overrider and the Absorbing Man, who sought to obtain Adamantium for their personal use.



More (aka a SOURCE) on Marvel.com: http://marvel.com/universe/Adamantium#ixzz354gsmtQF

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#14 2014-06-19 06:43:54

REDBACK
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

Badhammy your being a real d.ck
It does say Ainslie Bullion Daily,Weekly Radio and Discussions.
Do your self a favour and don't click on the link….or better still start your own thread and see what you can contribute.

REDBACK


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#15 2014-06-19 18:58:22

AinslieBullion
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

Gold's up! Amid interesting news from the US and continued strain from actions in the Ukraine.

Enjoy this week's Ainslie Bullion - current pricing and positions every Friday.

https://www.ainsliebullion.com.au/gold- … fault.aspx


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#16 2014-06-22 19:11:44

AinslieBullion
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

Quote of the Week - Silver
Few know the silver markets better than Ted Butler, who last week summed it up insightfully as follows:

"There is only $20 to $25 billion worth of silver bullion in the world or one one-hundredth of one percent (0.01%) of the $200 trillion of total personal financial wealth. By comparison, total world gold holdings of 5.5 billion oz are worth more than $7 trillion or 300 times the value of total silver bullion. Of course, all the world's silver bullion is owned by a wide variety of investors, so it is somewhat presumptuous to call it available. Only the actual owners will determine at what price the silver is truly available. All the silver bullion in the world is very much different than all the available silver bullion in the world. One thing much more certain is that $200 trillion worth of world personal wealth exists and if the smallest fraction of one percent of that wealth tries to buy the metal, the price lid will be blown off." 

Just for further context New York-based research company CPM Group estimate about $5 trillion of silver and $18 trillion of gold circulated globally last year.  Sharelynx estimate about 900 million ounces of silver was mined in 2013 worth about US$18 billion.  This means the paper market in silver is 275 times the size of the physical market. Further, there are estimates of between 9:1 and 16:1 extraction rates of silver to gold and yet the paper market in gold is only 3.6 times the size of the paper market in silver.  This goes some way to explaining the volatility of a relatively small market attracting an enormous amount of trade.


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#17 2014-06-23 18:59:05

AinslieBullion
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

The big march East
The Bank of England's 2014 annual report shows that 755 tonne of custodian gold left its vault between Feb 13 and Feb 14.  We've reported previously about the remarkable gold export figures from the UK (ETF custodian outflows) to Switzerland (refiners) to China (end buyers).  China has just announced too the opening of an international gold trading hub in Shanghai's free trade zone by Q4 this year including likely trade in Yuan. 

Last week too saw an update to Russia's gold holdings, showing 300,000 oz of gold added to their ever growing holdings in May (see graph below).  This the country who's top economic aid last week outlined his thesis that Washington wants a Russian invasion of Ukraine to justify sanctions that would see them writing off Russian held Treasuries, Russian's defaulting on Euro debt, and the US become the sole safe haven.  His proposed Eurasian alliance would not trade in USD and reduce US treasuries holdings. 

Wonder why they are stocking up on gold?

russia.jpg
Source:


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#18 2014-06-24 19:12:06

AinslieBullion
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

Gold Price – What's driving it?

There has been little consensus about 'one thing' that caused the big jump last week and why it is staying firm.  There were however a few things that happened around last Thursday.  Firstly we talk often about the unintended consequence of rampant money printing can be losing control of inflation.  Gold loves inflation (check out the graph below).

Last week the US CPI shocked everyone by coming in well above expectations and surpassing the Fed's 'target' of 2%.  At 2.1% it was the first time above 2% since October 2012 and there is growing commentary about whether this will keep going.  Keep in mind that, like Australia, the US has changed the way they calculate CPI over the years to mask the real story.  On the 1980 methodology it would really have been just under 10% and on 1990 methodology just under 6% (ref ShadowStats.com). 

Secondly, the Fed Chair Yellen gave yet another very 'dovish' speech that near zero interest rates are here for a long time yet despite meeting their target unemployment figure (because of a 30 year low participation rate, not new jobs) and inflation.  They know the real US economy is still sick and needs more cheap money to try and revive it. 

Thirdly, tensions in Iraq escalated and ceasefires in Ukraine were immediately breached.  Also tensions between China and Japan are still high over the Senkaku/Diaoyu islands in the East China Sea and the China v Vietnam oil rig dispute are all leading to more geopolitically fuelled safe haven buying of gold.  Finally we are now in late June and near the traditional 'turning point' in the seasonal buying pattern of gold.  The second half of the year (from about mid July) has historically been much stronger for gold than the first (check out the second graph below).  None of the above are 'flash in the pan' events and may well see a continuation of this price action.

gold%20seasonality.png
Source:

US%20CPI%20and%20gold.png
Source:


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#19 2014-06-25 18:56:37

AinslieBullion
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

Money Printing & Inflation
Logic dictates that the more money in the system the more prices rise as that money competes for the same amount of goods.  Whilst we commonly talk of money printing, the likes of QE are more accurately termed money creation as it is done by a keystroke digitally crediting the central bank's member banks in exchange for bonds (debt).  If the banks lend this all out the velocity of money increases which is normally inflationary.  We haven't seen this to date as the banks aren't lending the money.  They are either using the near zero interest rate cost to get a small yield on depositing it (hence the ECB introducing negative deposit rates to discourage this) or buying higher yielding assets themselves.  This effectively means there is a pent up supply of available 'money' sitting in these banks that if unleashed could lead to skyrocketing inflation.  Hence as we discussed yesterday the sudden jump in the US CPI figure shocked many and potentially lead to the jump in the gold price. 

It also explains a bubbling stockmarket and why Wall Street is going great whilst "Main Street" continues to struggle in the US.  It's also not contained to the US as the bank's search for yield saw them investing heavily in emerging markets and why the leaders of those EM's were so vocally against tapering QE and their economies are now struggling too.  It also had the neat effect of "exporting inflation".

And is it working?  Last night the US revised down (again) their first quarter GDP figure to MINUS 2.9% annualised largely because of, you guessed it, weaker household consumption!   Per our last Weekly Wrap they just revised their 2014 GDP to 2.2%.  To get to this they would need to average 4% annualised growth from now on, a feat they have achieved in only 4 quarters of the last decade, all of them before the GFC.
To blindly ignore all of this and not balance your portfolio with precious metal bullion is looking more and more "adventurous"…

money%20supply.png
Source:


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#20 2014-06-30 07:28:06

AinslieBullion
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

Changes in China >

Last year the world got to see the massive buy up of gold by China as they made the most of low prices.  Hong Kong May figures of a 16 month low of 53 tonne could at first glance look like they have slowed down.  But the reality, in the wake of the Chinese Government opening up new gold import routes to the mainland, is they are now (openly) importing directly to Shanghai and Beijing where they don't need to report numbers like they do in Hong Kong.

Considering reports last week of the head of the Shanghai Gold Exchange quoting 2000 t through there last year it gives us a small glimpse into what they can do.  A smart big buyer does things quietly so as not to force the market up and it looks exactly like that is what China is doing.  The jury is still out too as to whether the $15b/360t in fraudulent Chinese gold financing deals reported late last week will have an upward or negative effect on the price of gold.


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#21 2014-07-01 18:40:04

AinslieBullion
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

Even BIS is worried
The Bank for International Settlements (BIS) is effectively the Central Banks of the world's central body.  They released their latest annual report over the weekend.  The following are excerpts from the summary (http://www.bis.org/publ/arpdf/ar2014e_ov.htm ).
"The global economy has shown encouraging signs over the past year. But its malaise persists, as the legacy of the Great Financial Crisis and the forces that led up to it remain unresolved. To overcome that legacy, policy needs to go beyond its traditional focus on the business cycle. It also needs to address the longer-term build-up and run-off of macroeconomic risks that characterise the financial cycle and to shift away from debt as the main engine of growth."
"By mid-2014, investors again exhibited strong risk-taking in their search for yield: most emerging market economies stabilised, global equity markets reached new highs and credit spreads continued to narrow. Overall, it is hard to avoid the sense of a puzzling disconnect between the markets' buoyancy and underlying economic developments globally."
"In this second phase of global liquidity, corporations in emerging market economies are raising much of their funding from international markets and thus are facing the risk that their funding may evaporate at the first sign of trouble. More generally, countries could at some point find themselves in a debt trap: seeking to stimulate the economy through low interest rates encourages even more debt, ultimately adding to the problem it is meant to solve."
So even the body representing the perpetrators of this unprecedented global economic debt fuelled stimulus experiment is sounding the warning bells.  Debt can be cleared by default or high inflation.  Gold and silver should thrive on either scenario.
ABC News ran a good article on it that puts Australia's position in all of this into perspective too.  http://www.abc.net.au/news/2014-06-29/b … is/5558292


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#22 2014-07-02 19:06:17

AinslieBullion
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

Where's the silver?
There are some very interesting developments in silver going on right now.  First lets go back to 2011 when silver rallied up to $48.  This was largely off the back of a squeeze in supply against a mountain of paper contracts.  They can play with COMEX only so far as when it becomes apparent to the market the metal is not there to back it up you get a short covering rally as people clamber to get their metal.  We are again now in a position where the big players (J P Morgan etc) are enormously short on COMEX again with very little registered metal to cover it. 

And now Ted Butler reported over 200 tonne of silver left the largest ETF (SLV) last week when the price action dictated that much should instead have been deposited.  Like we also reported recently it appears ETF's are increasingly 'lending out' their silver ironically as the market desperately tries to cover all the paper contracts that have suppressed the natural supply/demand price. 

Have a look around the world at the cocktail of political and economic issues brewing and consider it takes just one 'black swan' event to trigger a rally that would see this unsustainable paper silver situation unravel overnight and the only winners being those who hold physical silver (and gold) themselves.  This much repeated quote on PM's is worth considering "It is better to buy a year too early than a day too late"…


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#23 2014-07-03 18:58:18

AinslieBullion
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

News from the Week, All things bullion, with Ainslie
This week's radio discusses the Aussie dollar rollercoaster this week, the good and bad out of the US and the just plain bad out of Europe.

https://www.ainsliebullion.com.au/gold- … fault.aspx


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#24 2014-07-06 19:03:54

AinslieBullion
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Registered: 2013-11-12
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

Gold the best performer of 1H 2014
USAGOLD produced the chart below showing gold has outperformed every other investment class in the first half of this year.  They then talked to 3 fundamental reasons in their eyes as to what could project it further.  1. A possible stockmarket meltdown – they quote famed Jon Hussman who predicted the last 2 crashes when most didn't and who thinks we are on the brink of a 38-50% US stocks bust; 2. Gold / oil price ratio correction – Gold has tracked oil relatively closely until the April 2013 take down of gold.  At a time of conflicts around major oil fields it is unlikely will to come down to meet gold thus the opposite is over due.; and 3. Gold has underperformed its historic correlation to inflation and this too is over due a correction.  Markets always revert to their mean trend and these are 3 classic examples of markets looking over due to do so.  The chart also nicely debunks the gold bears dire predictions…

comparativeinvestments.jpeg
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#25 2014-07-07 19:08:03

AinslieBullion
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From: Brisbane
Registered: 2013-11-12
Posts: 669
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Re: Ainslie Bullion - Daily news, Weekly Radio and Discussions

Concealing the coming crash
Major Australian papers ran an article yesterday on veteran fund manager Han K. Lee (who predicted the GFC and had his fund ready) who is again predicting another crash soon.  We've posted The Age's version on our website but AFR's is better if you have access – either is a must read.  Lee is reinforcing much of what we talk about daily, but one thing he mentions that few dare to is the obvious data manipulation by Governments.  Eg – last week shares rallied strongly and gold came down on the 'awesome' US employment data showing about 280,000 new jobs and the unemployment rate down to 6.1%.  Zero Hedge published the graph below illustrating simply that the 280,000 was made up entirely of part time jobs and in fact full time jobs FELL by 523,000.  The published (U3) 6.1% unemployment rate was helped by 92,000 people giving up looking and if including them the US Government's own official U6 number is 12.1%.  The US has a 35 year low participation rate of only 62.8%.

NFP%20June.jpg
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