Thinking of the debt ceiling, I see the waste and ‘lost’ funds, I shake my head in horror. When literally billions and trillions ‘go missing’, my disbelief grows exponentially. When my $600.00 is tracked and prosecuted to the n’th degree, the only way that missing funds can happen is on purpose. I wonder where the funds are and who is able to use them and for what purpose.
It makes sense to me that cutting spending on useless projects that just feed the monster is resisted vigorously. How do we know the extent of the pay-offs and corruption? How much undeclared creation of currency is there? Who is protected?
We see only a portion of how and why we have the inflation that we have. Inflation is caused by ‘overprinting’ currency.
We can protect ourselves by converting fiat currency into assets that protect us against the profligate misuse of the printing press.
It is time to lock in (up?) the politicians so that they put in place systems to stop the theft and corruption and remove the perpetrators permanently.
Gold and Bitcoin
Even though gold prices are going down at present gold is still outperforming bitcoin. The relationship does appear to be turning back to preferred bitcoin, but is not there yet.
Gold and Silver Stocks
The relationship between physical gold and silver in comparison with the stocks of gold and silver continually changes. The past number of years have seen the stocks severely underperform the physical metal. The stocks have just begun to recover and the charts seem to indicate a continuation of this pattern. The past week or so of trading, sees gold physical outperforming the stocks, here represented by GDX.
This morning in ten minutes, the price was knocked down from $1,960.00 to $1,940.00 and appears to be recovering slightly.
May 21 (King World News) – Fred Hickey: In 4 of last 5 trading days there have been inflows into GLD ETF (5th day was flat). Total adds over 5-day period were 10 tons, while gold itself fell $40oz. Highly unusual. March 8, 2022 (gold’s 2022 top) to March 15 ’22 saw steep gold decline accompanied by GLD outflows.
Do what they do, not what they say! No matter how they try to control, minimize, block, manipulate, make difficult, the purchase, transport, transfer or payment for gold it is an important insurance element of one’s portfolio, not to forget the potential profit and hedging components. We can say the same or more for the other monetary metal, silver.
From Peter Schiff
So far this year, the following central banks have added the most gold to their reserves, according to data from the World Gold Council.
- Singapore – 68.67 tons
- China – 57.85 tons
- Turkey – 30.21 tons
- The Czech Republic – 1.54 tons.
So, which countries hold the most gold?
Here are the top 20 gold hoarders in the world based on the most recent data from the World Gold Council.
|1. The United States||8,133.5 tons||68.7% of total reserves|
|2. Germany||3,354.9 tons||68.2% of total reserves|
|3. Italy||2,451.8 tons||65.4% of total reserves|
|4. France||2,436.8 tons||67% of total reserves|
|5. Russia||2,326.5 tons||24.9% of total reserves|
|6. China||2,068.4 tons||3.9% of total reserves|
|7. Switzerland||1,040.0 tons||7.3% of total reserves|
|8. Japan||846,0 tons||4.3% of total reserves|
|9. India||794.6 tons||8.7% of total reserves|
|10. The Netherlands||612.5 tons||57.7% of total reserves|
|11. Turkey||572.0 tons||34.1% of total reserves|
|12. Taiwan||423.6 tons||4.6 % of total reserves|
|13. Portugal||382.6 tons||70.1% of total reserves|
|14. Uzbekistan||381.3 tons||68.5% of total reserves|
|15. Kazakhstan||332.0 tons||58.5% of total reserves|
|16. Saudi Arabia||323.1 tons||4.3% of total reserves|
|17. The United Kingdom||310.3 tons||11.4% of total reserves|
|18. Lebanon||286.8 tons||53.9 % of total reserves|
|19. Spain||281.6 tons||18.3% of total reserves|
|20. Austria||280.0 tons||50.1% of total reserves|
The International Monetary Fund (IMF) holds 2,814.0 tons of gold. It would rank third in the world if it were a country. The European Central Bank holds 506.5 tons of gold, ranking it 13th among countries.
Venezuela holds the largest percentage of its total reserves in gold at 84.2%.
A look at the Gold and Silver Charts
|Gold: Silver ratio||84.58:1||83.46:1|
|Gold Miners bullish percent index:||53.57||60.71|
|Dow:Gold Ratio (BahaUS 32,792.00/Gold price, $1,948.00) =||16.83||17.02|
|Current USA inflation rate (Dept. of Statistics)||4.9%||5.0%|
Gold’s low of the week was $1,939.00 and the high was $1,985.00.00, now trading at around $1,948.00.
- The monthly chart for Gold is a hold and still looks positive.
- The weekly chart is a hold, looking weaker. The spike high is not supported by the other signals, so no sell yet.
- The daily chart remains in an OUT position, touching support at these levels.
The low for Silver this week was $22.78 and the high $23.90, trading around $23.01 at present.
- Silver on the monthly chart remains a buy.
- The weekly chart is a hold, within a touch of a sell if indicators cross over tonight.
- The daily chart is a sell, so out of the market. Price is inside the long term trading range and looking weak.
There is support around $23.00 to $23.50. The price this morning dropped under $22.80 but recovered back over $23.00 within minutes.
Our partner has stock of both gold, silver and Goldbacks in our vaults available in Panama.
Please contact us for more information.
On the Stockcharts.com charts, the blue vertical lines are our proprietary system buy signals and the red vertical lines are system sell signals – for information purposes only
Please contact us to arrange the purchase and storage of your gold and silver requirements in a safe, insured, location outside of your jurisdiction.
If you are interested in an overview of Fort Kobbe, you may want to have a look at this video: Mike Brown, Director, Fort Kobbe, International Vaults, A DotCom Magazine Exclusive Interview
This is my interpretation of the market and is not to be taken as financial advice. Before making any buy or sell decisions I recommend that you consult with your professional financial advisor.