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12.12.18 - BofA: Gold To Hit $1,400 In 2019

Gold last traded at $1,250 an ounce. Silver at $14.85 an ounce.

NEWS SUMMARY: Precious metal prices rose Wednesday on safe haven buying and a weaker dollar. U.S. stocks traded higher as investors digested upbeat news related to the ongoing trade war between the United States and China.

 

 

 

Bitcoin 'Pyramid Scheme' is Collapsing

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s2smodern

bitcoin 2007769 640The Bitcoin ‘pyramid scheme’ continues to collapse -Crudele/New York Post
"Bitcoin, while not officially a product of traditional Wall Street, is a pyramid scheme. A fraud. But it is best described as a 'confidence game.' I’ve been calling it a 'bitcon' for a long time. And now the pyramid seems to be collapsing because fewer and fewer people have confidence that the price of this inherently worthless 'cryptocurrency' is going to continue to rise.

Gold Price Dynamics Say Buy!

Written by Staff Writer
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s2smodern

Warren Buffett at the 2015 SelectUSA Investment SummitWhy Warren Buffett Would Be Buying Precious Metals Again Today (If He Could) -HedgeEye
"Warren Buffett is famous for many things one of which is his general dislike for precious metals as an investment. But maybe you’re old enough to remember when, just over 20 years ago, he backed up the truck and bought a ton of silver - over 3,000 tons, to be more precise. From the 1997 Berkshire Hathaway letter to shareholders: 'Our second non-traditional commitment is in silver. Last year, we purchased 111.2 million ounces.

FAANG: The New "Nifty Fifty"

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s2smodern

FAANGFAANG: The New “Nifty Fifty” -Bonner/Bonner And Partners
"At Dow 25,000, stocks are too expensive. The Dow-to-gold ratio is now 21. In other words, it takes 21 ounces of gold to buy the Dow. That ratio has only been higher twice in the last 100 years. And each time was followed by an 85%-90% selloff. The FAANG stocks are especially expensive....You buy stocks to make money, not to get rid of it. The whole idea is to buy low and sell high. If you buy high, you’re starting off on the wrong foot.

The Fed 'Will Blink' on Rates

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s2smodern

dollar 1362243 640Jim Grant predicts the Fed 'will definitely blink' on interest rates -CNBC
"The Federal Reserve won't end up raising interest rates as aggressively as projected, said Jim Grant, editor and founder of the venerable Grant's Interest Rate Observer newsletter. 'I think the Fed will definitely blink,' Grant told CNBC on Tuesday. 'I don't know when it will reverse course; I suspect sooner rather than later.' Grant said that investors will know the Fed is 'blinking' when they hear it. 'We are going to be data dependent; we are concerned about where growth [is]; we are stepping back from time to time ... and we are watchful waiting.

Progressive Tide Rolled Back

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s2smodern

640px Donald Trump Signs The Pledge 25 Photo Courtesy Michael VadonAmericans Turned to Trump to Roll Back the Progressive Tide -Epstein/Wall Street Journal
"What genuinely excites Mr. Trump’s crowds and draws them to him is their shared antiliberalism. By liberalism I do not mean liberalism of the kind that was at the center of our fathers’ Democratic Party - which supported labor unions, civil liberties, racial integration, involvement in international affairs. I refer to the liberalism now metamorphisized into progressivism, at the heart of the thinking of such Democrats as Elizabeth Warren, Bernie Sanders, Cory Booker, Kamala Harris, Alexandria Ocasio-Cortez and others. This is the progressivism that edges into socialism, that is said to attract the young, that promises a newer, kinder America - the progressivism that exalts identity politics and has no argument with political correctness.