Swiss America Trading Corporation

Highest Demand For Gold in 5 Years

Gold last traded at $1,177 an ounce. Silver at $17.27 an ounce.

NEWS SUMMARY: Precious metal prices rose Wednesday on bargain hunting and a weaker dollar. U.S. stocks closed up despite healthcare weakness as the post-election rally continued.


U.S. Mint Sees Highest Demand For Gold Coins Since 2011 -Kitco
"The U.S. Mint is reporting another record year for coin sales and this time, it is for its gold-bullion products. Tuesday morning, the U.S. Mint announced that it had sold out of 2016 American Eagle one-ounce, quarter-ounce and tenth-ounce coins. However, one-half-ounce American Eagle and one-ounce Buffalo coins for 2016 are still available. According to the latest sales data compiled by the U.S. mint, 984,500 ounces of gold in various denominations of American Eagle coins have been sold this year, the highest sales rate since 2011 when one million ounces in gold bullion coins were sold....This is the third consecutive year the U.S. Mint has seen unprecedented demand for bullion coins."


Yellen The Fed Needs A New Leader--And New Policies, Too -Steve Forbes
"Donald Trump took several shots at the Federal Reserve during his election campaign. Let's hope he effects a real overhaul of this increasingly destructive agency. Fed boss Janet Yellen's recent appearance before the Joint Economic Committee underscores why a major makeover is necessary for our future prosperity. Yellen openly and unapologetically made clear that our central bank still hews to the discredited theory that prosperity causes inflation....Yellen confuses changes in prices that come in response to supply and demand in the marketplace with movements in prices that result from changes in the value of the dollar. It's the dollar changes that wreak havoc....What should Trump do? Push the Fed to let the markets set interest rates....Trump should also fire Janet Yellen. She told Congress she will finish her term, which expires in February 2018, and implied that Trump can't remove her. She should do her homework. Our central bank fought the Treasury Department twice in the late 1940s and early 1950s, and both times the Fed head was axed. Fantasies and pretensions to the contrary, the Federal Reserve is not an independent branch of government enshrined in the Constitution."


The Next Crisis Will Be Very Inflationary -Craig R. Smith/SATC
"If President-elect Trump gets just half of the infrastructure spending he is proposing - along with tax cuts - we will see a run up of another $5-6 trillion in debt. This will cause huge inflation as more money is in peoples' pocket from the tax cuts and the jobs created start to fill the economy. Of course none of this is applicable until after Jan 21, 2017 and even then it may take a year or more. I am of the belief the next crisis - unlike the 2008 crisis - will be very inflationary. That inflation will allow debt to be paid off with inflated dollars at a discount. Inflation affects people in a way that, 'not one in a million can diagnose until its too late'. It will look like the honest way, but will take from people who have left their money in currencies that lose value ie: the dollar. Leaders like Mr. Trump, who don't believe in paper but in things like real estate, gold, etc., are comfortable with the tool of inflation because they understand it. Frankly, America needs a healthy dose of inflation...IF you have your money in things, not paper."


Spain Joins World War On Cash -Cointelegraph
"Spain has entered the war on cash. According to El Mundo, the government plans to enforce a cash limit of 1,000 euros. The Spanish government says the ban comes amid a push to combat tax fraud and lower its deficit as per a directive put forth by the EU. The directive also outlines an immediate registration of tax information for about 80 percent of the population and a tightening of controls on deferred payments. The government claims this will limit the need to raise taxes. Other EU countries already have similar cash limits in effect. Notably low countries being Portugal with a maximum of 1,000 euros, Greece with 1,500 euros, Italy with 999,99 euros and Belgium with 3000 euros. This war on cash has also been seen globally, with notable examples being India abolishing its two biggest notes overnight and movements in the U.S. pushing for a ban of $50 and $100 bills."

Cash is under attack from multiple entities - government, banks and technology. As we explained in our 2014 book, Don't Bank On It! Use of cash could get you branded as a criminal. Capital controls are already being put in place to prevent bank runs. Get the full story in our 12-page White Paper: The Secret War on Cash.


Gold Standard Approved for Islamic Finance, Opening New Market -Bloomberg
"Gold is acceptable for the first time as an investment in Islamic finance after the group that sets standards for the industry adopted Shariah-compliant rules for trading the metal. The rules approved Nov. 19 allow gold to be used in the $1.88 trillion Islamic finance business, the Accounting and Auditing Organization for Islamic Financial Institutions said Monday in a statement. The AAOIFI developed the standards with help from the producer-funded World Gold Council, which has said the new rules could spur demand for 'hundreds of tons' of gold....'We fully expect to announce imminently that GLD does qualify,' Natalie Dempster, a managing director of the World Gold Council, said at the conference. Physical gold bars and coins may also qualify, she said....'The time has come for gold instruments in Islamic finance,' Mark Mobius, executive chairman of Templeton Emerging Markets Group, said Monday in a World Gold Council report accompanying the statement."

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