Ned Schmidt - Insights on the Gold Market – Thu 10 Oct, 2019

Global Demand For Gold ETFs Hit An All-Time Record

A recent report from the World Gold Counsel highlights the global demand for gold back ETFs that hit a record high in September. Ned Schmidt, Founder of the Value View Gold Report joins me to share his thoughts on this report. We look at the increase in demand from Europe and what that is telling us about the health of that economy.

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  1. On October 10, 2019 at 1:10 pm,
    SilverDollar says:

    Thanks for bringing Ned Schmidt to the board again. His analysis is unique and always worth listening to.

  2. On October 10, 2019 at 11:19 pm,
    CFS says:

    Federal Reserve Chairman Jerome Powell Speaking at the National Association of Business Economists on October 8, 2019.
    Powell acknowledged that a larger, long-term bailout of Wall Street is coming:
    “As we indicated in our March statement on balance sheet normalization, at some point, we will begin increasing our securities holdings to maintain an appropriate level of reserves. That time is now upon us.”

    Under the previous Federal Reserve Chair, Janet Yellen, balance sheet normalization at the Federal Reserve meant reducing the Fed’s unprecedented $4.5 trillion balance sheet to get back to something near pre-crisis levels.
    Under Powell, normalization now means increasing the Fed’s balance sheet to as yet undefined heights.
    The Fed’s balance sheet had been expanded to the unprecedented level of $4.5 trillion by buying up bonds from Wall Street’s teetering banks during the financial crisis. From November 2008 until October 2014, the Fed deployed three rounds of QE – QE1, QE2 and QE3. (The final one was known on Wall Street as QE-Infinity since it appeared to be open-ended.)
    On January 7, 2008, the Fed’s balance sheet stood at $881 billion. By 2015 and three rounds of QE it had spiraled out of control to $4.5 trillion.
    Yellen started her normalization program to shrink the Fed’s balance sheet in October 2017 by eliminating rolling over the Fed’s maturing Treasury securities and principal payments on agency mortgage-backed securities that the Fed had bought up from Wall Street banks. Powell’s Federal Reserve stopped that runoff this past August.
    The Fed is now back to reinvesting its maturing bonds into new bonds to once again balloon its balance sheet.
    On top of that, beginning on September 17 of this year, the Fed has been funneling hundreds of billions of dollars a week in revolving loans to Wall Street securities firms (primary dealers) by intervening in the repurchase agreement (repo) market. Between September 11 and September 30, the Fed’s balance sheet has GROWN by $176 billion – in just 19 days – to a total of $3.9 trillion.

  3. On October 11, 2019 at 10:38 am,
    David says:

    Just read there are more Kurds in Turkey than anywhere else. Also a bunch in Iran, Iraq, Syria.. why would the Kurds be the enemy of Turkey. Something doesn’t compute.