Bill’s commentary:
“Some weekend reading from Erik for you.”
Bill’s commentary:
“This is totally normal, nothing to see here…”
Bronny James’s cardiac arrest has again raised the issue of how rare or frequent cardiac injury is in the aftermath of receiving an mRNA vaccine, especially among young males. Last Tuesday was the two-year anniversary of an incident during a bicycle race in Belgium, which might have already settled the issue had it been more widely known.
Bill’s commentary:
“Very interesting information from Dr. Robert Malone on the Maui fires. How does metal melt while plastic is untouched? How is one half of a car virtually melted while the other half untouched? Somehow I don’t think this one will be swept under the rug, the alt media is now too large and fervent to let that happen?”
Today’s usual Friday fare is being delayed until noon, so that I can bring you a video that I recorded last evening with frontline community workers and scientists in Maui. These heroes have some alternative views\points which are worth considering.
They also have first hand evidence that the government is censoring the discussion/video on the fire aftermath as well as censoring news on happening on the ground now. There is no question that a media brownout is currently occurring, as described in the video.
Bill’s commentary:
“GG checks in with some reality for us, and that reality is that THE most undervalued asset on the planet cannot bankrupt in a world that is bankrupting…!”
They (the cabal) need to control silver because when silver erupts they won’t be able to control gold since they move in tandem and we are getting very close to that point hence the increasing standing for physical delivery and not nominal (worthless) settlement anymore. Silver had a 237.7 million ounce market deficit in 2022!! Metals Focus anticipates another strong year for silver demand in 2023, and is calling for a deficit of 142.1 million ounces, driven in part by anticipated new all-time highs for industrial fabrication (Electrical Vehicles and Photovoltaics ) and historically high bar/coin investment demand.
There has been a huge under-investment in precious metals (as a result of the price suppression from the ESF) and also copper (see Codelco, Chili much higher cost) because the stock market provided huge gains with the trillions of QE thrown around. This huge underinvestment for the last 10 years (since 2012) means that the gold/silver/copper producers need to acquire exploration companies that have attractive resources to fill their pipeline!! Hence why I think that the next couple of years will be very attractive time for the exploration plays. The price of the mining companies most likely won’t be measured in worthless fiat money but in ounces or pounds of mineral per share.
I think that after Labor day, currently the market is in the doldrums (holiday period), we will see things finally coming to a head (CRE, Failing banks, high interest rates, debauchment of the currencies, inflation and returning negative real rates, supply contraints, rivalling BRICS) and the secular gold/silver bull market will resume! After all the Chinese and Japanese are currently selling their Treasuries (read USD weakness with higher interest rates) in order to support their own currencies. Next to that we will have the BRICS conf in Joburg from 22-24 August. Countries are not doing loans or trading anymore in USD but in their own currencies and thus don’t need to keep so many USD on their B/S hence selling pressure). See the recent energy deal between the UAE and India denominated in Indian Rupees and NOT the USD!! The heydays and hegemony of the USD are over. The US is asking (demanding) the Saudi not to abate the petrodollar !! “When you have to ask you are too late”.
Volcker travelled to the Netherlands in July 1971 to convince the Dutch not to exchange dollars for gold. During the meeting, Volcker told Zijlstra (the president of the Dutch Central Bank), “You are rocking the boat.” To this, Zijlstra replied, “If the boat is rocking because we present $250 million for conversion into gold or something that can be considered an equal asset, then the boat has already perished.” The Dutch then redeemed this final tranche of US currency.”
Gijs
Silver Price Inexcusably Low Given the Market Dynamics
AUGUST 15, 2023 BY MICHAEL MAHARREY
Silver is significantly undervalued right now. One analyst called the current price in the $22 an ounce range “inexcusably low.”
But many analysts are bullish on silver in the medium term with projections of prices climbing to $50 to $100 an ounce over the next two to five years.
The question is when will we finally start to see this correction?
Silver has languished in 2023. While gold is up over 4% on the year, the price of silver has declined by over 5%.
We can see the growing spread between silver and gold in the silver-gold ratio, currently running at over 84-1. That means it takes over 84 ounces of silver to buy one ounce of gold. To put the current ratio into perspective, the average in the modern era has been between 40:1 and 50:1.
Historically, the ratio has always returned to that mean. And when it does, it does it with a vengeance. The ratio fell to 30-1 in 2011 and below 20-1 in 1979.
When the spread gets this wide, silver doesn’t just outperform gold, it goes on a massive run in a short period of time. Since January 2000, this has happened four times. As this chart shows, the snapback is swift and strong.
Current Dynamics
Silver has faced the same headwinds as gold with the Federal Reserve pushing interest rates higher to battle price inflation. Fed monetary policy has strengthened the dollar and sticky price inflation has kept investors on edge with expectations of more rate hikes. This has pressured the price of both gold and silver lower.
Silver has faced additional bearish sentiment due to a slowing economy. Sagging demand for consumer electronics has impacted industrial demand for both silver and gold. BMO Capital Markets commodities analyst Colin Hamilton noted that while the global economy has held up better than expected in the face of monetary tightening, “This is almost solely down to resiliency in the services economy while the manufacturing side is clearly feeling the strain.”
This disproportionately impacts silver because industrial demand makes up over 50% of total silver demand, as compared to only ~7% of gold.”
But looking at the longer term, the supply and demand dynamics are bullish for silver. In fact, there is a looming supply shortage.
Analysts believe that the growing demand for silver in the solar power industry will likely put a significant squeeze on supply in the coming years, and the current price of silver does not reflect the likely shortages.
We’re already seeing a tightening silver supply. While silver demand set records in every category in 2022, supply was flat with mine output falling by 0.6%. This resulted in a 237.7 million ounce market deficit in 2022.
It was the second consecutive annual deficit in a row. The Silver Institute called it “possibly the most significant deficit on record.” It also noted that “the combined shortfalls of the previous two years comfortably offset the cumulative surpluses of the last 11 years.”
This trend is not expected to reverse. Silver Bullion Pte Ltd. CEO Gregor Gregersen recently noted that silver mine production has fallen due to a lack of investment.
Production cannot be materially increased over the short term as it can take over 10 years to commence new mining operations. Therefore, increased silver prices will not lead to increased mine production for a long time.”
Meanwhile, we are likely about to see a huge increase in demand for the white metal thanks to the push for green energy.
Due to its outstanding electrical conductivity, silver is an important element in the production of solar panels. It is used to conduct electrical charges out of the solar cell and into the system. Each solar panel only uses a small amount of silver, but with the demand for solar panels growing exponentially every year, those small amounts of silver add up.
According to a research paper by scientists at the University of New South Wales, solar manufacturers will likely require over 20% of the current annual silver supply by 2027. And by 2050, solar panel production will use approximately 85–98% of the current global silver reserves.
Recession worries would typically dampen industrial demand for silver, but the photovoltaic industry and the “green energy” sector more generally are essentially recession-proof due to support from governments around the world. With battling climate change a priority, it is highly unlikely investment in solar power and other green energy technologies will fall, even in the midst of an economic downturn.
And it’s important to keep in mind that while silver is an industrial metal, more fundamentally, it is money. Despite being more volatile in the short term, silver tends to track with gold over time. If you are inclined to think the Federal Reserve will lose the inflation fight, you should be bullish on both gold and silver.
At some point, investors will have to reckon with the shrinking supply of silver coupled with rising demand, along with the Fed’s inability to bring inflation back to its 2% target. When that happens, the price of silver will likely take off.
Given the supply and demand dynamics, the skewed silver-gold ratio and the likelihood that the Fed will not beat price inflation, $22 silver looks like a great buying opportunity.
Bill’s commentary:
“And the beat(ing) goes on …for “king” dollar.”
In another blow to dollar dominance, India and the United Arab Emirates settled an oil trade without converting local currencies to dollars for the first time on Monday, as India’s top refiner made a payment for oil in rupees.
Indian Oil Corp. bought a million barrels of oil from Abu Dhabi National Oil Company in a dollar-free transaction.
Bill’s commentary:
“Do you think we will have elections in the US, or will it be martial law by then?”
Ukrainian President Volodymyr Zelenskyy signed legislation Thursday extending martial law and general mobilization until Nov. 15 — sowing doubts over whether the country’s parliamentary elections, due to take place before Oct. 29 — will go ahead.
Read more…
Bill’s commentary:
“And where were these jackasses for the last 5 years?”
More than a dozen college presidents have signed on to a new campaign to bolster free speech on their campuses.
The 13 leaders — hailing from Cornell, Duke, and Rutgers Universities, to name a few — are pledging to “urgently spotlight, uplift, and re-emphasize” free speech and academic freedom over the next academic year, they announced Tuesday. The presidents, who are planning what they call “urgent action,” are mostly from private colleges.
Bill’s commentary:
“‘Training’? Training for what?”
An IRS agent was killed during an accidental shooting by another agent during a training exercise Thursday, according to ABC15 sources.
BillHolter.com 