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Mike Savage 6.1.23
As I look ahead to what I expect in 2023 I will make some predictions based upon what I am seeing right now.
- Gold makes an all-time high in 2023.
- Gold miners may be the best investment of 2023.
- Silver makes a major move and could reach an all-time high in dollar terms also.
- Many countries join BRICS and the US dollar experiences a major pullback. (May rise short-term first)
- Tech stocks and interest rate sensitive investments suffer another difficult year.
- Food crises pick up globally and social unrest soars as the necessities of life become too expensive for the bottom 25% of society to afford.
- US Government and most developed nations keep spending like drunken sailors to keep propping up the economic numbers. This could be the year when the straw that breaks the camel’s back arrives.
- Job losses will likely surprise to the upside since the Fed is engineering it that way
- There could be a major black swan in 2023- if not then- then in 2024 because the CBDC (Central Bank Digital Currencies) are to be rolled out in 2025. Many people will resist this so there has to be a MAJOR problem so many will be begging for a solution- which is already here.
- Real Estate prices- commercial real estate prices in particular- will collapse in 2023. Rising rates, rising crime and work-from-home will likely create a perfect storm for commercial real estate- particularly in the major cities.
- Look for major retailers to close stores in areas where crime is rampant and the consequences are not meaningful for those committing the crimes..
- I believe there will be bankruptcies in companies that many will believe could never happen. This could lead to a panic and a rush for the exits as many investors will be left wondering “Who’s Next?”
I believe that 2023 will be a year of extraordinary chaos and also of extraordinary opportunity. If you are positioned correctly the opportunities will likely show themselves. If not positioned correctly it is likely that 2023 could bring the same pain- and possibly greater- than we witnessed in 2022.
1.2.23
(GATA) Robert Lambourne: After sharp rise in November, BIS gold swaps ended the year at zero
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IMO, that news is a VERY big deal.
GATA was formed in 1999 around the fact that gold loans were being used by various bullion banks to suppress the price, to the tune of around 800 tonnes, as discovered by legendary Frank Veneroso, and the sudden understanding that mega hedge fund Long Term Capital Management was short around half of that. It was a big deal because LTCM, whose lawyer was Jim Rickards, was going bankrupt. What to do then about their bank loans? For if LTCM was forced to cover their positions, the price of gold would take off. So, the bullion banks got together, along wit the Fed, to take over the loans and keep the price of gold suppressed.
Before starting my own internet site, I worked with Frank Veneroso who wrote The Gold Book, which gained all kinds of notoriety in the late 1990’s. It is the backbone of GATA’s discovery about the gold price manipulation scheme, as Frank exposed the fact that central banks were secretly leasing out their gold, which was suppressing the price and why we think a fair amount of the U.S. gold is gone.
Gold swaps are yet another way to get gold into the marketplace to suppress the price:
"Gold swaps are forms of repurchase agreements commonly undertaken between central banks or between a central bank and other types of financial institutions. They occur when gold is exchanged for foreign exchange, at a specified price with a commitment to repurchase the gold at a fixed price on a specified future date so that the original party remains exposed to the gold market. Its features are, therefore, very similar to those of a repo."
The gold swap numbers out there have been tracked and quietly published by the BIS and Bob Lamborne, a GATA consultant in London, has diligently tracked them and brought their numbers to our attention over the past years. The fact that they went to zero, along with the subsequent gold price action, tells us THEY are in trouble, with one of their attack methods going kaput.
Years ago the BIS decided to really tighten up their requirements, which, according to a few scholars in our camp, was to have a major effect by the end of 2021. Didn’t happen. At least not as far as the gold price was concerned. It floundered instead, until a couple of months ago when it began to take off. The move from right above $1600 to close to $1950 has been stunning. It appeared that The Gold Cartel was finally losing control of their ability to suppress the price … and a significant reason was the disappearance of the gold swaps, which finally took effect. Their going to ZERO in December explains the dramatic change in gold’s price action. The cabal was running out of ammunition to counter the buying by other central banks such as the Chinese.