from GoldSilver (w/ Mike Maloney):
TRUTH LIVES on at https://sgtreport.tv/
US Treasury Secretary Unclear on the Concept of a “Deficit”
by Martin Armstrong, Armstrong Economics:
I have both good and bad news. The bad news is that the US government is continually spending with no end in sight. The proxy wars have eliminated even a level-headed discussion of anything akin to a real budget. In a move that angered Treasury Secretary Janet Yellen (also good news) Republicans introduced legislation to reduce funding toward Biden’s IRS army through the Inflation Reduction Act. They still plan to spend billions of taxpayers’ money, but that money will now go toward Israel instead of hunting down those who fund the organization.
The Economy Is “On The Brink” Of Collapse
by Mac Slavo, SHTF Plan:
October 29th marked 94 years since Black Tuesday and the start of The Great Depression. Thanks to the unlimited amount of fiat currency the Federal Reserve is willing to loan to the ruling class in order to propagate wars and depopulate the planet, we are on the brink of experiencing another economic collapse.
According to recent financial statements prepared by the U.S. Treasury Department, “the current fiscal path is unsustainable,” and there has not yet been a federal agency that disagrees with that statement. The nation’s interest-bearing debt just passed $33 trillion and is expected to surpass $50 trillion within the next 10 years, according to North Jersey.
CENTRAL BANKS CONTINUE TO GORGE ON PHYSICAL GOLD ACCUMULATION
by Harvey Organ, Harvey Organ Blog:
GOLD CLOSED DOWN $6.15 TO $1979.35 WHILE SILVER CLOSED DOWN 11 CENTS TO $22.73 AS THE SPECS ADD MASSIVELY TO THEIR SHORT POSITION AND CENTRAL BANKS TAKE THE BUY SIDE AND THEN TAKING DELIVERY ESPECIALLY GOLD (800 TONNES THIS QUARTER//PLATINUM CLOSED DOWN $8.90 TO $924.95 WHILE PALLADIUM CLOSED DOWN $20.35 TO $1107.65//ROBERT LAMBOURNE REPORTS ON THE BIS GOLD SWAPS WITH THE FED LOWERING ITS SHORTFALL IN SEPT DOWN TO 96 TONNES..STILL A LONG WAY TO GO//CENTRAL BANKS CONTINUE TO GORGE ON PHYSICAL GOLD ACCUMULATION//GOLD COMMENTARY TODAY FROM PETER SCHIFF/EPOCH TIMES PROVIDES AN EXCELLENT COMMENTARY ON THE DETERORIATING HEALTH OF THE CHINESE ECONOMY//PALESTINIAN THROW RATS INTO MACDONALDS//ISRAEL VS HAMAS: ISRAEL NOW CONTROLS THE NORTH SECTOR OF HAMAS WITH THEIR TANKS AS WELL AS NORTH SOUTH ROADS BUT WITH 15 CASUALTIES//STARVING YEMEN DECLARES WAR ON ISRAEL//NEW DATA RELEASED BY THE USA SUGGESTS THAT THEY ARE IN THE MIDST OF STAGFLATION//ADP REPORT AND JOLTS REPORT//SUBPRIME AUTO LOANS SKYROCKET AND IT LOOKS LIKE WE WORK WILL FINALLY SUCCUMB
Central Banks on Course for “Colossal” Year of Gold Buying
by Peter Schiff, Schiff Gold:
After setting a record through the first half of the year, central banks continued to gobble up gold in the third quarter.
Globally, central banks added a net 337 tons of gold in Q3, the second-highest third-quarter total on record behind 2022.
Through the first nine months of the year, central banks bought a net of 800 tons of gold. That’s 14% more than through the same period in 2022.
COMEX Gold Into Month End
by Craig Hemke, Sprott Money:
What a crazy month this has been for gold prices. In a complete reversal from where prices began the month, we’re set to finish October on Tuesday with a big green candle on the monthly chart. What, if anything, does that signify? Let’s discuss that today.
The month of October began just four weeks ago, but it seems much longer than that. Geopolitical events and the worsening conflict in the Middle East have made October feel like the longest month of the year. Looking back, do you even recall how poorly COMEX gold was trading as the month began?
Marketable US Treasury Debt to Explode by $2.85 Trillion in the 10 Months from End of Debt Ceiling to March 31, 2024
by Wolf Richter, Wolf Street:
Including $1.56 trillion in Q4 2023 & Q1 2024 combined. Government has gone nuts.
The US government is borrowing such huge amounts to fund its gigantic and reckless deficits that the whole world is paying attention. The Treasury Department’s Quarterly Refunding announcements are normally greeted with a global meh, but under the current tsunami of new issuance of debt, it has turned into a hot button.
Gary Gensler’s Bitcoin ETF position is ‘inconsistent’… says Gary Gensler
by Jesse Coghlan, Coin Telegraph:
During a panel at the 2019 MIT Bitcoin Expo, Gensler called out the securities regulator for its “inconsistent” approach to spot Bitcoin ETF approvals.
Gary Gensler once criticized the United States securities regulator for its “inconsistent” approach to spot Bitcoin
The video clip, which has recently made the rounds again on social media, shows the pre-SEC Gensler discussing blockchain regulation at the 2019 MIT Bitcoin Expo in a fireside chat with United States Securities and Exchange Commission Commissioner Hester Peirce.
Cantillon Overdrive…and the Bitcoin Breakout
by Mark E. Jeftovic, Bombthrower:
What we now call “The Cantillon Effect” was known far back as circa-1730, by at least one economist. It hasn’t been taken very seriously in modern times, especially here in the fiat age.
Named after its author, Richard Cantillon, in his “Essay on Economic Theory” (“Essai sur la Nature du Commerce en Général”) — it is his only surviving work and was published posthumously in 1755, more than 20 years after he was murdered by a former cook whom he had dismissed from his household. The disgruntled ex-employee, returned by night, robbed his home, then set it ablaze, with Cantillon — and the rest of his manuscripts, within.
BEIJING FLOODING THE USA MARKET WITH SALES OF USA TREASURIES
by Harvey Organ, Harvey Organ Blog:
GOLD CLOSED UP $2.90 TO $1983.90 //SILVER WAS DOWN 14 CENTS TO $22.76//TODAY ENDS COMEX EXPIRY WITH THS COMING TUESDAY BEING OPTIONS EXPIRY FOR LONDON/LBMA/PLATINUM WAS DOWN $3.55 TO $905.35 WHILE PALLADIUM WAS UP $12.10 TO $1134.95//BEIJING FLOODING THE USA MARKET WITH SALES OF USA TREASURIES//ECB PAUSES ON ITS RATE HIKES AS EXPECTED//LAST NIGHT ISRAELI’S DID A MINOR EXCURSION INTO GAZA CLEARING OUT MAJOR PROBELMS LIKE BOMBS, BOOBY TRAPS AND ELIMINATING SOME HAMAS OPERATIVES//OTHER ISRAEL-HAMAS UPDATES//COVID 19 UPDATES//VACCINE UPDATES//DR PAUL ALEXANDER//SLAY NEWS //NEWS ADDICTS//EVOL NEWS//ANOTHER MASS SHOOTING IN THE USA (MAINE) WHERE 18 ARE CONFIRMED DEAD AND SHOOTER STILL AT LARGE
