Sierra Madre Precious Metals

“It’s Madness… MADNESS!”

Always and again the magic of money presents us with problems. These problems change constantly. Time after tiine experience teaches us that there is no universally-valid system by means of which monetary problems may be solved. Every new situation demands new deliberations, new measures, new insights, new ideas. Each of these ideas must be informed by and subservient to the sole and single purpose of maintaining the soundness of the currency. ~ Hjalmar Schacht

“Extraordinary Popular Delusions and the Madness of Crowds” happen with regular intervals as Charles Mackay wrote about. It seems that the world experiences more delusions and madness than truth and sanity.

The pattern is always the same. The economy is never in equilibrium but moves in cycles of boom and bust. If these cycles were allowed to take their natural course, they would move up and down in a steady rhythm without reaching extremes at the top or bottom. Continue reading →

In a sign that the Federal Reserve is growing increasingly desperate to jump-start the economy, the Fed’s Secondary Market Credit Facility has begun purchasing individual corporate bonds. The Secondary Market Credit Facility was created by Congress as part of a coronavirus stimulus bill to purchase as much as 750 billion dollars of corporate credit. Until last week, the Secondary Market Credit Facility had limited its purchases to exchange-traded funds, which are bundled groups of stocks or bonds. Continue reading →

The worst has yet to come for the real estate market as home-mortgage delinquencies surged to their highest level in nine years as the virus-induced economic downturn continues to crush household finances.

Property research firm Black Knight Inc. reports total borrowers more than 30 days late surged to 4.3 million in May, up 723,000 from the previous month. This means at least 8% of all US mortgages were either past due or in foreclosure. Continue reading →

The coronavirus was a heck of a cover for the Federal Reserve’s failings, and the riots are laying even more cover for what’s to come. While the masses focus on what’s happening on the surface, the real criminals laugh at our ignorance from their metaphorical ivory towers. Continue reading →

“If getting drunk was how people forgot they were mortal, then hangovers were how they remembered.” ~ Matt Haig, The Humans

“In the field of monetary and credit policy, precautionary action to prevent inflationary excesses is bound to have some onerous effects— if it did not, it would be ineffective and futile. Those who have the task of making such policy don’t expect you to applaud. The Federal Reserve, as one writer put it after the recent increase in the discount rate, is in the position of the chaperone who has ordered the punch bowl removed just when the party was really warming up.” ~ William McChesney Martin, Speech to Investment Bankers Association of New York, October 1955

“Nothing spells trouble like two drunk cowboys with a rocket launcher.” ~ C.J. Box

“We’re not even thinking about thinking about the consequences of our actions.” ~ Jerome Powell, Chairman, Federal Reserve

Stocks attempted to rally again today, cheered on by the financial TV muppets and spokesmodels, riding the buzz from yesterday’s retail sales numbers, and various fantasies about a cure for the coronavirus.

But alas, and again, stocks had their early rise, but then fell back into the close to finish lower or unchanged.

Gold and silver were under pressure most of the day, but managed to eke out a small gain into the close.

The Dollar gained a very small bit as well.

I cannot stress enough how volatile the situation is beneath the surface.

Madness.

Written by Jesse for Jesse’s Cafe Americain ~ June 18, 2020

Editor’s NOTE: Readers – I know that in time it will be here – not more printing or minting of US “money.” THIS is how THEY are going to control us. I have been warning our readers and listeners of this for a quarter of a century, but then… Who the hell am I? BUT I will fight this until the end. I am not in favor of ANY of it! ~ JB

Thanks to COVID-19, many of us have been working remotely, wearing masks when we go out, and paying for grocery delivery services. And we’ve been staying connected with loved ones using videoconferencing programs like Zoom…

And while I think the virus itself will be in the rearview mirror by this time next year, COVID-19 will continue to have an impact on the way we live. Continue reading →

…in Fact, Things Will Soon Get Even Worse!

2020 has been quite a year so far. It has been one nightmare after another, and yet the economic optimists continue to insist that economic activity will soon snap back to normal levels somehow. So the economic optimists aren’t really alarmed by the fact that the core areas of our major cities have been torched, gutted and looted by rioters, because they assume that all of this violence is just a temporary phenomenon and that any damage that has been done can be repaired. …and they aren’t really alarmed by the fact that the COVID-19 pandemic is starting to escalate again. In fact, over the last seven days we have seen the number of newly confirmed cases around the globe hit levels that we have never seen before. They just assume that “the worst is behind us” and that the vast majority of the businesses and jobs that have been lost during this pandemic will be quickly recovered.

Wouldn’t it be wonderful if they were actually correct? Continue reading →

…and THIS is how you are supposed to feed your family?

Continue reading →