Hello SD Bullion youtube subscribers, my name is James Anderson, and this is our second SD Bullion Gold Silver Market Update.
Gold Podcast | Silver Podcast | SD Bullion
The overall significant four precious metal spot prices moved slightly up and sideways for this past week.
The spot gold price appears to be closing around $1,470 per troy ounce.
The spot silver price looks to have ended the week around the psychologically round figure of 17 fiat Federal notes per troy ounce.
The spot palladium price closed the week at 1,750 per troy ounce, not too from its recently reached newest nominal record price high.
The spot platinum price moved up a few bucks on the week, closing just under $900 fiat US dollar per troy ounce.
Checking in on the latest news for Not QE4 and ongoing Repo overnight bank bailouts, it looks like the Federal Reserve’s balance sheet has increased now almost $300 billion in about 2 and 1/2 months.
At this pace, the Federal Reserve's balance sheet will double from its current $4 trillion Fed note level, by the end of the year 2022.
Rumors are plentiful amongst bank analysts trying to determine which of the current crop of zombie megabanks might Bear Sterns or Lehman Brothers later.
Financial twitter tweet of the week goes to Jason Burack of Wall Street for Main Street’s youtube channel.
In past crises (2001 & 2008) #repo got up to $300 billion dollars or more per month. Soon, #RepoMadness will be averaging $300 billion dollars per day. We're already at a $190 billion per day avg (according to NY Fed) without 28 & 42 day term repos just added. #WelcomeToDystopia— Jason Burack (@JasonEBurack) November 15, 2019
The Federal Reserve’s chairman, many times multimillionaire Jerome Powell, testified before the US Congress this week.
Only one Congressman, Kenny Marchant (R-TX), had the nerve to ask Mr. Powell about the Federal Reserve’s intervention in the repo loan market bailouts beginning this past September 17th, 2019.
Have a listen to this essential section of their back and forth Q and A in the video above.
If you bought Jerome Powell’s explanation, I have a bridge you might be interested in purchasing located deep down south in the Flordia Keys.
More seriously, though, let’s hear from some respectable skeptical Wall Street journalists, Pam and Russ Martens of Wall Street on Parade had the following response for Jerome Powell’s bumbling brief explanation.
They go on to write in response,
“the new talking points are: it’s too technical for the common brain so move along and leave it to the geniuses at the Federal Reserve. The second talking point is: nothing to see here because it doesn’t impact the economy or the general public.
But, of course, this is dangerous propaganda. The Fed is back to creating the same kind of moral hazard that it created when it secretly pumped trillions of dollars into the Wall Street trading houses and global foreign banks during the financial crisis and then waged a multi-year court battle to keep it secret from the American people.
The Fed’s current money spigot impacts the U.S. economy because it further enriches the top 10 percent who own the vast majority of all stocks and bonds in the U.S. It impacts the economy because it is ballooning the size of the Fed’s balance sheet (now back above $4 trillion) which the U.S. taxpayer is ultimately on the hook for. It impacts the U.S. economy because it is worsening the existing bubble that already exists in the stock market, thus making the inevitable bursting of the bubble worse. And it impacts the U.S. economy because this big propaganda lie further undermines the trust the American people have in the Federal Reserve and U.S. banking system.”
They also note for their readership that,
“Since September 17, 2019, the Federal Reserve has been pumping hundreds of billions of dollars each week (that the New York Federal Reserve branch creates electronically out of thin air) into its 24 primary dealers on Wall Street. These primary dealers are not commercial banks that might be inclined to use the funds to make loans to local businesses or to consumers to buy a house and help their local economies. No, 23 of the 24 primary dealers are stock brokerage firms and investment banks that engage in leveraged bets in the stock, bond, commodities, and derivatives markets. The 24th is a foreign bank.”
I will leave a link to that excellent article in the show notes for you to track down and read. Careful though, some of their points may raise your blood pressure as they did mine.
I am moving on to our final Charts of the week.
Nick Laird, the owner of GoldChartsRUs.com, emailed over some trend charts. Major fiat currency holders should consider the overall 21st Century trajectory for central bank fiat currency purchasing power losses to come.
This first chart shows how much purchasing power nine major fiat currencies have respectively lost to gold bullion in the 21st Century thus far.
Ask yourself, is this overall trend going to revert in the next decade or two?
Here too, in the video is how silver looks versus the nine devaluing fiat currencies. Note the 2009 to 2011 stretch when silver vastly outperformed even record price-setting gold.
When might we see another replay of the performance again?
That is all for this week. If you like this weekly show, be sure to subscribe and click the alert button, so you don’t miss it.
Oh, by all means, like the video, comment below, let us know what you think.
Have a great weekend, everyone out there.
Thanks for visiting us here at SD Bullion.