“You and I can’t control whether banks are ready, but we can control whether we are ready. I am working on a number of fronts to help you. My brief time away convinced me beyond any doubt that a crisis of historic proportions is once again bearing down on us. We may have little time to prepare. We definitely have no time to waste.“ –– John Mauldin
Note: Mauldin says a major financial crisis will ensue if not by “later this year, then by the end of 2018 at the latest.” He counsels to prepare for turbulence.
“We think gold may edge higher, but with little fanfare and expect the market to face headwinds.” –– HSBC
Note: HSBC predicts gold will average $1282 in 2017 and that the USD well decline in 2nd half. Historically, gold rallies often begin and gain momentum quietly.
“The debt ceiling will start to dominate headlines as we move through the northern hemisphere summer.” –– Standard Bank
“During the first half of 2017, gold bullion rose 7.75% while the XAU (Philadelphia Index of Gold and Silver Stocks) rose 2.79% (including dividends). Among the notable developments of the first half were the pronounced weakness of the trade-weighted US Dollar (down 6.44%) and the continuing sluggishness of the US economy, both of which call into question the wisdom,feasibility, and credibility of the Fed’s push to tighten credit.” –– Tocqueville Gold Strategy Investor Letter
Note: Nice synopsis. . . .
“The physical precious metals bid will go infinite — that is, big players holding useless cash will buy up all the gold and silver that’s available, at pretty much any price that’s demanded.” –– John Rubino
“The West will strive until its last breath to keep the price down, while the East will strive with its every ounce of energy to produce an honest price. The gold price will make movements to the $2500 level, then $5000 level, then $8000 level, then $12,000 level. It is inevitable, like the dawn after a long stormy night, like the rising tide.” –– Jim Wille
Note: Not sure we agree with those price levels, but the sentiment is worth passing along.
“Silver prices have risen erratically but inevitably, along with debt and most consumer prices, for decades. As of July 2017 silver prices, compared to the national debt, are too low and will rise. The next rally in silver should be huge based on the prospects for expanded war, financial chaos, and central bank ‘printing’ that will devalue all currencies.” –– Gary Christiansen
“Stated another way, and in far less erudite terms, the Fed owns the stock market. The institution’s credibility has in our opinion become inseparable and indistinguishable from financial-market stability. This less-than-‘candid’ institution cannot afford a major downdraft in financial-asset values. It is caught in the lie that the institution’s supposedly superior and privileged knowledge hold the key to future prosperity, economic growth, and policy normalization. The price of an honest reassessment would risk calling into question the extreme policy measures undertaken since 2008.” –– Tocqueville Gold Strategy Investor Letter
Note: Toto, it seems, is tugging at the curtain. . . .
“It’s almost an embarrassment be an American citizen traveling around the world and listening to the stupid shit we have to deal with in this country and at one point we have to get our act together. We won’t do what were supposed to for the average American.” –– Jamie Dimon
“Our global investment strategists believe that central banks will act to pop the bubble later this year.” –– Bank of America Merrill Lynch
“More recently we’ve seen Fed Chair Janet Yellen note in June that she does not expect another crisis in our lifetime. The reality is that completely ignores how fundamentally distorted money and markets actually are.” –– Nomi Prins