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The Single Easiest Way To Understand Precious Metal’s Value

by Andy Hoffman, Miles Franklin:

I have lots of “PiMBEEB,” or Precious-Metal-bullish, everything-else-bearish, topics to discuss – to the point that I could easily pen three or four articles. And trust me, I could easily do so; as in my quest, and the Miles Franklin Blog’s in general, to disseminate TRUTH – and in the process, end the gold Cartel’s world-destroying reign – I have indisputably published more Precious Metal commentary than anyone on the planet. As in, roughly 250 articles per year, atop at least 100 podcasts, for many, many years.

No matter how much ignominy I am forced endure – like yesterday’s paper gold “flash crash” – which the captive, brain-dead MSM actually called a “mistake” – it’s been worth every second of it; as the Precious Metal community, a “band of monetary rebels” with an iron constitution; and unwavering desire to end the greatest ill the planet has ever known, fiat currency; has introduced me to some of the best people I have known. And better yet, now that I am an equally passionate Bitcoin devotee, I have found a whole new cadre of anti-establishment, anti-fiat currency “freedom fighters” to network with, making it doubly exciting to awaken each morning.

I cannot wait to get to today’s principal topic – so much so, I actually considered putting it ahead of the day’s extremely PiMBEEB events. However, in the spirit of structure; the virtue of anticipation; and most importantly, the necessity of focusing on the political, economic, and monetary dangers facing us, I’m going to hold off until the end. Trust me, after reading the “preliminaries,” you’ll be better mentally prepared to embrace it! Starting with…

In a “you can’t make this stuff up” moment, Mario Draghi, who just two weeks ago, “took Central bank credibility to an all-time low” when he dramatically reduced the ECB’s inflation forecasts, one day after floating a “trial balloon” that the he would raise them, doubled down on idiocy at his latest press conference. First, he “unexpectedly” signaled tapering may be closer than expected, because factors weighing on inflation were “mainly temporary.” To the point that, he actually said – on the same day the Bank of International Settlements issued an ominous warning of the increasing likelihood of another major financial ciriss – “the threat of deflation is gone.” I mean, what part of crude oil plunging 8% since the June 9th ECB meeting am I missing? Or the accompanying decline in the CRB Commodity Index from 176 to 168, putting it mere basis points from of its lowest level since the 2008 crisis? Or yesterday’s horrific earnings warning from one of Germany’s largest auto suppliers, Schaeffler, due to “price pressures in the original equipment manufacturer business?” Or yesterday’s $17 billion bailout of two Italian banks – representing 1% of Italian GDP – just one week after the bail-in, and equity collapse, of one of Spain’s largest banks? Better yet, Goldman Mario claimed “there are no signs of a bubble.” No, no bubbles at all. I mean, it’s perfectly natural for a Central bank to own a third of all sovereign bonds – many, at negative yields – including those of completely insolvent nations, amidst one of the worst periods of economic weakness of our lifetimes.

Similar “deflationary” pressures are accelerating in the U.S., where the Fed is “tapering” into a Depression as well; like yesterday’s disastrous trifecta of plunging economic reports, including durable goods, the Chicago Fed National Activity Index, and the Dallas Fed Manufacturing Index. Which, in their aftermath, caused interest rates to plunge to their lowest level of the year, and the Treasury yield curve to become “flatter” than at any time since…drum roll please…November 2007, just before the biggest financial crisis of the century. And oh yeah, yesterday’s two-year Treasury note auction featured the highest stop-out rate (read, blistering demand) since…drum roll please…October 2008!

The United States of War, run by a businessman-come-“Commander in Chief” who appears to be more warmongering than even Nobel Peace Laureaute Obama himself, appears hell-bent on instigating a generational Middle East conflict – per last night’s ominous; completely unsubstantiated; and given current circumstances, patently ridiculous White House statement that the U.S. has “identified potential preparations for another chemical weapons attack by the Assad regime”…and that, if carried out, Assad would “pay a heavy price.” This, on the same day a “Pentagon Report” concluded “ballistic and cruise missile technology is advancing in countries from North Korea and Iran to Russia and China, increasing potential threats to the U.S. even if they don’t carry nuclear warheads.” Which brings to mind the question of why America is so obviously hell-bent on potentially suicidal – and historically PiMBEEB – military actions? Perhaps, to distract sheeple from the collapsing U.S. economy and empire; and perhaps, per what I wrote last week, to support the price of oil – damn the potentially catastrophic consequences.

Read More @ MilesFranklin.com

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1 comment to The Single Easiest Way To Understand Precious Metal’s Value

  • ecobel

    he brags about all his commentaries and podcasts but never says his advice to go into PMs is wrong… oh, it will happen as it is being manipulated! Please stop.

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