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6.28.16 - Amid Global Chaos, US Flirts with Recession

Gold last traded at $1,317 an ounce. Silver at $17.88 an ounce.

NEWS SUMMARY: Precious metal prices traded mixed on mild profit taking and a weaker dollar. U.S. stocks rose Tuesday, amid gains in oil prices, after a sharp two-day sell-off.

Brexit worst shock since WWII; banks out of ammo -CNBC
"The fallout of Thursday's referendum could send Britain into recession, Summers told CNBC's 'Squawk Box,' pegging the chances of that at about 50-50. World central banks have little firepower to throw at potential global economic unrest created by a Brexit, the former Obama administration economic advisor said, calling the current environment the 'moment of least capacity' for policymakers to make a difference. With the European Central Bank in stimulus mode and the U.S. Federal Reserve with only one interest rate hike since 2006 under its belt, Summers said there's not much room to ease monetary policy further if necessary."

Fox Business A Market Pause that Refreshes, or Regresses? -Craig R Smith/Fox Business
Swiss America Chairman Craig R. Smith says the Brexit vote sent the world a clear message that national sovereignty and controlled immigration are what the British citizens want - rather than centralized power in the hands of elite bureaucrats. Watch HERE to see what he believes this means for markets.

Greenspan: Crisis Imminent, Urges Return To Gold Standard -Zero Hedge
"Today, Alan Greenspan was on Bloomberg Surveillance where in an extensive, 30 minutes interview he was urged to give his take on the British referendum outcome....His remarks centered on the Eurozone which he defined as a truly 'vulnerable institution,' primarily due to Greece’s inclusion in its structure. 'Get Greece out'....Greenspan then went on to bash the false 'recovery' narrative, warning that 'the fundamental issue is the fact that productivity growth has ground to a halt.'.... According to Greenspan, 'If we went back on the gold standard and we adhered to the actual structure of the gold standard as it exited prior to 1913, we'd be fine. Remember that the period 1870 to 1913 was one of the most aggressive periods economically that we've had in the United States, and that was a golden period of the gold standard.'"

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6.27.16 - The Brexit Money-Quake Continues

Gold last traded at $1,324 an ounce. Silver at $17.78 an ounce.

NEWS SUMMARY: U.S. stocks extended losses Monday in the aftermath of Friday's Brexit vote. Meanwhile, precious metal prices rose on safe haven buying despite a sharply higher dollar as the British pound hit fresh 30-year lows.

What Comes After Brexit? -Craig Smith on The Savage Nation - LISTEN
According to Swiss America Chairman Craig R. Smith, the European Union has been a failed project for forty years. The Brexit vote was about "borders, language and culture", which have been the central themes of The Savage Nation since day one. Michael Savage asks Craig's opinion on the financial markets and gold over the next six months. Savage predicts a Trump win in November will continue to shake the economy. Mr. Smith says for Trump to clean up the excesses in the U.S. markets he will have to do what Ronald Reagan did in the 1981, raise interest rates and weather a short recession. Savage bottom line: "I bought some more gold today because it is a fundamental, and I think it should be part of everyone's portfolio."

About the only certainty investors are facing in 2016 is more uncertainty. Gold is the antidote for every geopolitical and economic unknown. A survey of Bloomberg analysts and traders on Friday estimates gold prices will be at $1,375 to $1,600 an ounce by year end. Learn why all of the fundamentals are in alignment to send gold prices surging further this year in our 2016 Gold Report - World Edition.

flags The Brexit Money-Quake -Lowell Ponte/SATC
"The world's ruling elite expected the June 23, 2016 United Kingdom Brexit vote to fail. Investors who believed these elitists were shocked when this referendum won by 52-48 percent, launching a countdown to separation between the UK and European Union. This triggered a worldwide seismic shockwave that on Friday, June 24, wiped out more than $2 Trillion from global markets. [1] If these investors had heeded the advice and warnings that monetary expert Craig R. Smith and I have set forth in six books [2], they could have profited handsomely while this giant Money-Quake shook the planet and set assets tumbling. [3] A word to the wise: this Brexit vote is the first of many more soon to come. Read our books and quickly pick up the broken pieces of your investment portfolio. You will want to move quickly at least a portion of what remains before the falling dominoes and other pains of aftershocks hit." Full story

The one investment that made a killing, thanks to Brexit -Washington Post
"On Friday, as markets collapsed around the world after Britain voted to leave the European Union, investors in one kind of asset did fabulously: owners of gold. The precious metal saw a huge one-day price jump, increasing in value by $59.30, or 4.7 percent, to $1,322.40 per ounce, a two-year high....The strength of gold reflected market uncertainty. Gold tends to gain value in times of anxiety, because traders see it as a safe place to store assets that isn't vulnerable to shifts in the value of currency....“In a world of uncertainty, gold never changes,” Adrian Ash, head of research at BullionVault said. 'Gold doesn’t do anything; it doesn’t even rust. It’s absolutely certain in a world of constantly changing values, constantly changing politics and constantly changing risk.'"

Brexit sends bank stocks plunging -Mirror
"Trading in several of Britain’s biggest firms was suspended amid fresh stock market turmoil. Barclays and Royal Bank of Scotland were among those whose stock was frozen after a sudden drop. Automatic circuit breakers kick in when a company’s share price falls - or rises - by more than 8%. All trading in its shares are suspended for five minutes to try to take the heat out of the situation. Shares in some of the UK’s biggest builders - Taylor Wimpey, Barratt and Berkeley Group - were also put on hold, along with budget airline easyJet and Legal & General....Barclays remained down nearly 13%, and RBS by more than 15%."

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Special Message from the Chairman: Brexit Vote - Craig R. Smith

Gold last traded at $1,322 an ounce. Silver at $17.78 an ounce.

NEWS SUMMARY: U.S. stocks plunged over 3% Friday after U.K. citizens voted to end the country’s membership in the European Union - a historic rejection of Europe’s political order. Meanwhile, gold prices soared nearly 5% ($61/oz.) as investors scrambled for a safe haven in a financial world of increasing uncertainty.

BREXIT! Freedom and Liberty Prevail Over Big Government, Let the Markets Adjust!
by Craig R. Smith, Swiss America Chairman

It is interesting that Wall Street thought more about how to profit off of the Brexit vote than focus on the need for Britain's sovereignty. The world has decided status quo is no longer acceptable.

The time has come for things to change. Citizens of sovereign nations want to be heard and they are tired of politicians, crony capitalism and big business elites calling the shots.

Brexit The people are speaking, no they are screaming: “We want freedom, opportunity, less government interventions and global controls on our future!” Free people prefer trusting themselves versus self-serving, pompous politicians.

The talk all night was about how U.S. regulators were going to “step in” today to stabilize U.S. markets with gimmicks which will only make things worst.

It is time to allow markets to do what they always do; to reset at real prices, not by using pumped-up central bank manipulations. I expect the Fed WILL intervene, but they shouldn't.

The problem is the Fed never allowed the excesses of 2008 to be worked through the system, as we have said for the last seven years. It is time for central banks to do the right thing and allow the markets to dictate the politics instead of the other way around.

Brexit illustrates the world wants change; change that will bring back freedom, personal responsibility and individualism versus collectivism. If this sentiment persists in America, Donald Trump will be our next president - no matter how much money the Clinton camp spends.

The financial bubble world bankers have created has finally popped. It will be interesting to watch what the powers-that-be will do in a futile attempt to salvage the financial system.

The very best thing they could do would be to allow markets to normalize, but don’t hold your breathe. Returning to normalized markets will mean some short- term pain, but significant long-term gain.

This is a huge rebuke of Obama and Hillary. They voiced their opinions about staying in the EU and the British said, “Mind your own business - power to the people - not the leaders!”

I suspect we will soon witness many other EU nations start to break away. There is talk that the Netherlands, France, Spain and other nations will look seriously at following Britain's lead. NATO is the only security in Europe right now. Beware of moves by China and Russia during this uncertain time.

Financial markets HATE uncertainty. Stock markets worldwide are down 3-8%, oil is down 4% and gold is up 5%. The German 10-Year Bund just went negative.

Swiss America clients should be thankful for their wise decision to own physical gold. Gold and the 10-year Treasury may be the only safe havens in the world. While it is possible U.S. equities will be considered a safe haven, compared to the rest of the world, the truth is that freedom and liberty are on the march and the central planning manipulators in politics and economics are on the run!

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