by Peter Schiff, Schiff Gold:
There is a $33.7 trillion elephant in the living room.
I’m referring to the massive national debt.
It’s pretty amazing that we have this massive animal sitting right in the middle of everything and most people are just walking around it as if it isn’t there.
But as economist Daniel Lacalle bluntly put it, the mounting deficits and the rapidly growing mountain of debt are a road to ruin.
by Craig Hemke, Sprott Money:
In today’s episode, listen to Craig Hemke and Chris Vermeulen discussing the dynamic landscape of the precious metals market, as well as:
by Mish Shedlock, Mish Talk:
Numerous articles and Tweets have surfaced about China dumping Treasuries. First let’s investigate the rumors. Then let’s look at conditions in which China might dump dollar assets.
Not China Dumping
Until the past week there was a relentless selloff in US treasuries that sent bond yields soaring.
from GoldSeek Radio:
TRUTH LIVES on at https://sgtreport.tv/
by Alasdair Macleod, Schiff Gold:
The writing of this market report was at a time of great volatility, due to it coinciding with the speech of the Hezbollah leader, Hassan Nasrallah. The drift of it appears to be that Hezbollah will support Hamas. If so, it means an intensification of the Palestinian crisis Which would presumably drive gold and silver prices higher. This market report should be read in this context.
by Alasdair Macleod, Schiff Gold:
The day of reckoning for unproductive credit is in sight.
With G7 national finances spiraling out of control, debt traps are being sprung on all of them, with the sole exception of Germany.
Malinvestments of the last fifty years are being exposed by the rise in interest rates, increases which are driven by a combination of declining faith in the value of major currencies and contracting bank credit. The rise in interest rates is becoming unstoppable.
by Dennis Miller, Miller On The Money:
The price of gold has been swinging wildly over the last several months; from over $2,000 oz. in May, then dropped to around $1822 oz. early in October. The middle east war reignited and it quickly jumped back up around $50. What’s going on?
I Googled “Gold Price Prediction for 2023” and the responses were all over the place. Here is a screenshot of what popped up.
by Robert Lambourne, Gold Seek:
Active trading in gold swaps by the Bank for International Settlements, the central bank of the central banks, continued in September.
From information in the BIS statement of account for the month, published this week —
https://www.bis.org/banking/balsheet/statofacc230930.pdf
— it is estimated that the bank’s gold swaps fell 33 tonnes in the month, from 129 to 96 tonnes.
from ZeroHedge:
Downdetector has reported that several US banks are facing service disruptions on Friday morning. Meanwhile, users on the ‘free speech’ social media platform X complain that the Automated Clearing House system is down.
Downdetector shows Truist, Bank of America, Chase, US Bank, and Wells Fargo are experiencing widespread outages and disruptions that began around 0800 ET.
