OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

Given the seemingly unceasing stream of scandal that has flowed out of Warren Buffett’s favorite bank, Wells Fargo, it’s hardly surprising that after doing everything from illegally repossessing the cars of American soldiers to fraudulently “cross-selling” credit cards and other products to millions of customers, the bank is now being called out for adding opaque products to the accounts of hundreds of thousands of customers – for services like pet insurance and legal services – without first explaining how to use them.

And in the latest sign that Trump appointee Mick Mulvaney is keeping the pressure on, the CFPB is investigating how Wells collected fees for these so-called “add-on products”, and recently prompted it to refund millions of dollars to customers. News of the bank’s latest scandal comes just days after Wells took a $619 million charge in the second quarter to refund customers for overcharging in its foreign-exchange, wealth management and auto- and mortgage-lending units. The bank also agreed to a $1 billion settlement with the CFPB in April – the largest ever levied by the agency – over its failure to manage risk.

Unsurprisingly, the bank has been aware of these issues for some time:

cont. https://www.zerohedge.com/news/2018-07-19/wells-fargo-has-been-caught-yet-another-scandal

I expected that response, but good to hear anyway.  Thanks.

They interviewed a professional currency strategist on Bloomberg. He said something like the charts and present goings on, may help the dollar go slightly higher, near term, but they were confident that fundamentals would push the dollar lower.

There was also mention of a “currency policy”. We all know what that means. TPTB are able to manipulate currency values. So, what ever they are doing, its just them buying time. They probably KNOW another down turn is near,

so getting the dollar nice and high, (to help Europe etc for now) then drop the dollar later during a US economic slowdown for a “punch bowl effect” for the US economy and those suffering emerging markets that can’t handle a strong dollar.

TPTB have a very complicated situation on their hands. The bit off more than they can chew or swallow when they integrated everything globally. Unwinding this mess is going to be very disruptive.

Most definitely — hold gold (and silver) because the degree of currency debasement that will be necessary to bail out the Wall Street idiots, bankers, et al in the next liquidity scare will border on hyper-inflationary levels, which could call the very survival of present digital markets into question.

Buy and hold physical. The premiums to digital could be quite profound.

Even if gold needs to plunge below $1000 in the initial stages of a deflation scare don’t worry — this will be a blip on the charts years out.

Cheers

I appreciate your insights into the markets, and understand (I think) your rationale about the paper markets.  But it leads to the question, would you be buying phyzz now and as the doldrums/downdraft continues, perhaps into the fall?

I got ‘in’ back in the era of ‘The Ruff Times’ – in fact , bought my first gold in 1967 when I bought a boxed set of Centennial Canadian coins which included a gold coin .

Made a lot , lost a lot – but have what counts ; good health , a loving wife , and wonderful kids and grandkids who are a cut above me in terms of character and ability . I count myself very fortunate .

No, I think you are a victim of the larger players who should know better.

Unfortunately, one of the nasty side effects of an easy money system the likes of which people have never seen before is their brains turn to sh*t. What this means in terms of the precious metals clusterf*ck as it stands right now is the funds continue to use precious metals derivatives as a hedge against a downturn in stocks, which they are not (a hedge), because easy credit is still available. This is the same reason broad market open interest put / call ratios remain high, which supports stocks. (i.e. the perpetual short squeeze.)

So it’s not the little guy who is to blame for this. We are captive of the Wall Street knuckleheads who keep running their margin balances ever higher.

As with 2000 and 2008, we must wait until these characters decide PM’s are crap again and they stop playing the ETF calls, which won’t arrive until the next deflation scare comes. (this fall? — quite possible)

Then the metals will explode higher.

So be patient.

I know it’s been a long time, but patience is better than losing money.

Cheers

Paulson & Co. will move forward with its efforts to replace a majority of the Detour Gold’s board and explore the possible sale of company.

In a letter release today, Paulson also said Detour had been “approached by a major gold mining company interested in potentially acquiring it.”

Detour Gold is up 13% to $13.93. The company’s 52-week range is $9.11 to $17.86. Paulson & Co. is a large institutional investor in Detour.

In a sharply worded news release, Detour Gold said Paulon & Co.’s claims were misleading and it doesn’t want to be forced into an “ill-timed fire sale”.

“Paulson, in a desperate attempt to resuscitate its flailing reputation in the mining industry, has once again misinformed the investment community,” wrote the company.

cont. http://www.mining.com/paulson-plans-replace-detour-board-explore-sale-company/

per bubblevision

But gave back a lot of yesterday’s gain .

Signed ,

Stupid

Yes, unfortunately all that means is the stupids are still optimistic.

We’re going down until they capitulate.

Cheers

Seniors block Venezuela streets demanding pension checks

https://www.yahoo.com/news/seniors-block-venezuela-streets-demanding-pension-checks-213439933.html

SLV has traded over a millions shares in the pre-mkt.

Just still too much going on and no time to post. Still have the faith and holding. Best to all from Silverngold.

Still here. Just waiting and getting grayer by the day.

onward through the fog with oat willie!

!!! VOTE OAT !!!

Summer doldrums and gold looking at 1200

Im buying

Aint many of us left here ??

Onward pilgrims

Winedoc

Sounds like most everyone had FUN today.  Southern Pacific used to run a ‘Fun Train’ from Oakland to Reno for the gambling crowd. It must have been popular, as this is a LONG train. It also climbed thru the scenic Sierra Nevada and Donner Pass. Note the ‘Icicle Breaker’ wires protruding from the  roof of the lead locomotive. These knocked icicles from the tunnel roofs in the mountains.
http://www.railpictures.net/photo/664594/