Nov 24, 2014
Manipulation Mondays with Andrew Hoffman:
Swiss referendum
- Switzerland only nation with capability of saving itself, with powerful forces backing both sides - and likely, a dead heat going in
-ARTICLE (today's) ' "Decision of a Lifetime", and last week's "Call to the Swiss"
-ARTICLE - "Splintering" - not just in Switzerland, but the entire world
- Scotland, Catalonia, Venice
- Switzerland
- ECB itself, as Germany against QE as Draghi pushes it forward
- ECB vs. SNB, per ARTICLE "ECB (and many others) vs. SNB
-last week's ECB comment that it is considering buying gold and Dutch repatriation announcement - which seemingly attack the SNB at its great moment of propaganda need (as clearly, the ECB wants the F Euro/Franc peg broken, per the "final currency war." Not to mention, Draghi's uber-dovish comments Friday, in which "whatever it takes" was supplanted by his new catch phrase, "whatever means necessary."
-anti-gold propaganda off the charts
-ARTICLE "He doth protest too much - the Best of Thomas Jordan"
PHYSICAL PM markets on fire, care of this month's blatant pre-Swiss vote attacks - and, as it turns out, Ukraine desperation gold sale as its currency collapses
-most negative GOFO rates since 1999, lowest level since then is this morning
-record 1H Indian silver imports, 1H Royal Canadian Mint Silver Maple Sales, U.S. Mint Silver Eagles sales YTD, even with sales suspended for 12 days in November, elevated premiums still
-massive mining industry capex cuts (see BHP Billiton today), and year-end will be cataclysmic for mining industry in general at current levels
-Chinese gold imports likely will meet or exceed 2013's record level as well
Massive global money printing
-just weeks after Japan announced "Abenomics 2.0," China surprise market with rate cut, and expectations of more to come as Chinese economy collapses
-fears that this week's Euro inflation numbers will be too weak (more money printing), and if OPEC engages the world in a price war (Thursday meeting), could accelerate money printing further
-U.S. data across the board weak, other than the "lie to end of all lies" - i.e., last week's 10 sigma beat of Philly Fed. John Williams thinks 3Q downward revisions could be large, and 4Q potentially negative
-only a matter of time before Fed QE to Infinity widely understood, especially as "strong dollar" killing U.S. multi-national earnings and stocks and bonds at record high valuations