By: Bill Bonner & The Daily Reckoning Crew - 15 December, 2006
-The impossibility of staying out of it when you're knee-deep in it… -Break on through to the other side - of the trade…bending the rules is sometimes necessary… -Neanderthals can't read newspapers…and more! Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 15 December, 2006
This week, in what I believe to be an unprecedented diplomatic pilgrimage, the sitting U.S. Secretary of the Treasury and the Chairman of the Federal Reserve were dispatched to China. Ostensibly they were sent to pressure the Chinese into allowing their currency to appreciate against the dollar. In reality, they were more likely sent there to do just the opposite. Full Story
Last week we discussed the forming of the Round Table Groups, first in London, then in the other British territories, including New York, as well. The establishment of these groups, scattered across the world, created a network of elite individuals who shared the same basic goals: the establishment of a New World Order – with a one world order of international global government. Full Story
By: David Galland & The Daily Reckoning Crew - 14 December, 2006
-Tidal wave of liquidity threatens to wash away savings, for good...a crowded restaurant where no one wants to eat... -Sydney or Melbourne? Both are nice, but only one has a Manley Beach... -An elevator ride to conversationville...if you sold stamps you'd be busy right now...and more! Full Story
This is an historic event. Could we be on the cusp of substituting bronze tokens or aluminum wafers for our fractional dollar exchange medium? The printing of paper fractional notes as substitutes for base metal coinage would not be new - - and you don't have to go back to the "Continental" to find the evidence. Full Story
One of the most frequently asked questions from my readers is the title above. Conventional gold-bug wisdom holds that in 1979 the new Chairman of the Federal Reserve, Paul Volcker, raised interest rates drastically, thereby putting an end to the galloping inflation then raging, and aborting the bull market in gold. Volcker’s high-interest policies are credited with the feat of turning the dollar back from the brink where it looked into the chasm of worthlessness, the chasm into which the French assignat, the German Reichsmark, and the Chinese yuan (of 1949 vintage) among countless other national currencies have fallen. Full Story
Lending of gold by central banks depresses the price and the only possible reasons for the secrecy around it are manipulation of the gold market and the enrichment, through inside information, of the financial houses to which central banks lend their gold, a study by New Orleans coin and bullion dealer Blanchard & Co. has found. Full Story
By: Rick Ackerman, Rick's Picks - 14 December, 2006
If you’re looking for rock-bottom bargains in real estate, try south Florida – a decade from now, that is. Ever wondered what’s going to happen to all of those quiet retirement communities in places like Delray, Boynton and Boca Raton when it comes time for the elderly folks who live there now to turn over the keys to their Baby Boomer children? Well wonder no more. A plausible answer is that the boomers, having no apparent interest in retiring to a sedentary life in Florida, will be looking to unload their legacy homes and condos in the Sunshine State so that they can buy retirement homes in more interesting places -- places like New York, Chicago and L.A. Full Story
By: Dr. Kurt Richebächer & The Daily Reckoning Crew - 13 December, 2006
-Melbourne, the Vancouver of Australia...not enough water to put out the fires in the 'lucky country'... -'Bubbles' Greenspan pans the greenback...rickshaws suddenly dirt-cheap... -An increase in pay option mortgages is directly proportional to an increase in poorhouses...and more! Full Story
By: Bob Chapman, The International Forecaster - 13 December, 2006
The catalyst for change will come next year as America slides into recession. That is when serious debate will get underway. Americans are going to have to liquidate a great deal of household debt that has doubled over the last six years and they will have to save. As we pointed out earlier that middle and lower class Americans are cutting back on spending. Wait until you see the final figures in January for December for Wal-Mart and Pier One, etc. By June all Americans will know we are in a recession. What they won’t know is that it started almost 1-1/2 years earlier. Full Story
By: Richard Daughty, The MOGAMBO GURU - 13 December, 2006
Surprisingly, Total Fed Credit, which is the magical fairy dust of economics, went down last week, if only by a measly $1.6 billion. But the Federal Reserve helped make up for it by buying outright another $1.3 billion in US government securities. Full Story
By: Rick Ackerman, Rick's Picks - 13 December, 2006
With the Dow average down 75 points in the early going yesterday, it felt for a little while as though the stock market was about to take an emetic plunge. Instead, the blue chip average got traction just above Friday’s lows, then rallied to finish slightly down on the day. From the looks of the chart below, we’re inclined to view this go-nowhere action as consolidation rather than distribution – a staging period that eventually will provide sufficient power to push key averages to new all-time highs before year’s end. Full Story
By: Dr. Hans Sennholz & The Daily Reckoning Crew - 12 December, 2006
-The boom seen round the world…funny money begat in a swindle… -The statistic of the month…the fate of our economy is in the hands of the wrong people… -Beggars and good-looking vegetables populate Pune…why you've never heard of a Hindu missionary…and more! Full Story
This weekend there were reports that Merrill Lynch had boosted their Uranium forecasts by some 78% for 2008. While this isn't a normal equity upgrade at all, it serves to offer a better potential safety net for long-term investors in the companies that actually mine and process the radioactive material need to run the world's nuclear power plants. Full Story
I’ve got bad news and good news. The bad news: A recession is coming in 2007. The good news: A recession is coming in 2007. There is nothing like a recession to create depression in most people’s minds – good, old-fashioned emotional depression. But for a self-selected minority, a recession is the opportunity of a decade – maybe a lifetime. Full Story
Much is being written about the decline in the U.S. Dollar and the rising Euro and British Pound but we would like to ask, “What’s Up with the Canadian Dollar?” Perhaps, we should ask, is the loonie getting loonie on us? As most of our readers are investors in precious metals mutual funds, mining shares or long-term warrants on the mining shares we have a short-term problem. You see most of the mining companies are Canadian companies and our investment dollars in the above vehicles are thereby impacted at least short-term to the direction of the Canadian Dollar. Full Story
By: Rick Ackerman, Rick's Picks - 12 December, 2006
“How the Global Boom Might End” is the title of a Sean Corrigan essay just out from Mises Institute. Corrigan’s think-pieces are always enlightening, and although this one gets the point across, I found it very heavy going. Moreover, he reveals a degree of optimism about the global economy that is arguably unwarranted. Some readers might have inferred as much from the article’s title, which could be taken to imply that the boom might not end We of course differ sharply, having have taken pains to explain not only why we are unlikely to see another boom like the one just ended, but why this downturn is leading toward economic catastrophe. Full Story
*This weeks show begins with a review of the business headlines and the Spotlight Pick. Next, Bob Chapman and I listen to news clips, dissect the M3 figure and take listener questions. Goldseek Radio has resurrected the M3 money supply figure, one of the top inflation gauges available. According to Bob, once the M3 declines for 3 consecutive months, the inflationary economy will shift into a deflationary quagmire. GSR will keep listeners up to date regarding any major shifts in real money growth. Next, Gary Kaltbaum shares his thoughts on the real estate sector and Jack Chan thinks stocks are advancing due to positive seasonal tendencies. If you'd like to be added to the Spotlight Pick e-mail list, for each weeks ticker symbols and related information, send a message to: goldseekradio@hughes.net
*The second half of the program starts off with the next audio excerpt from "Oil Storm." The TV documentary accurately predicted the oil dilemma and may hold clues to future energy market events. Next, one of the world's leading market advisors, Dennis Gartman says: "When their yelling you should be selling and when their crying you should be buying." The professed market contrarian is long gold and searching for stocks to short. Dennis divulges his powerful money management, position sizing and technical analysis techniques to the benefit of the neophyte as well as the professional. Full Story
By: The Mogambo Guru & The Daily Reckoning Crew - 11 December, 2006
-Sharking mortgage money to semi-literate poor people is becoming more difficult for Merrill Lynch... -Glimpses of India - the noise, smells and colors...not everyone in India are experiencing good times... -Indian wine poses no threat to French or Italian winemakers...and more! Full Story
By: Bob Chapman, The International Forecaster - 10 December, 2006
Treasury Secretary Henry Paulson and the Chairman of the Fed, Ben Bernanke, may not want to talk about it on December 15th and 16th in Beijing, but the Fed, the Treasury and the Chinese all know that the dollar has held its value on world markets because compared to the euro, yen or yuan, America has the highest interest rates. Carry traders borrow yen at ½% interest and invest in foreign assets, most of which goes into US markets creating artificial financial demand. Full Story
By: John Mauldin, Millenium Wave Advisors - 10 December, 2006
"When," I am asked frequently, "will we see a bottom in the housing market?" This week we look back at what past housing recessions have looked like to see if we can find a bottom anywhere soon. And could things be different this time? (Maybe.) We look at the government statistic on the number of houses for sale and find that it doesn't count all homes that are for sale. (I know it will shock most readers that government statistics might not be 100% accurate.) Full Story
As the year rushes through the last month, the speculation about commodity bull run has surfaced again. There are many who think the commodities are a spent lot from now on, and there are those who think commodities bear phase is on at least for coming half a decade. The most common refrain for all these forecasters is that the US economy is likely to slow down - or even enter recession - and thus the Americans will not be able to buy as many goods from China as they are doing currently. And this will bring down the growth of China, and thus a drastic fall in the price of commodities. Full Story
By: Rick Ackerman, Rick's Picks - 10 December, 2006
Check out the chart below, which is complete through Friday. Is this an internet-stock-on-steroids – Google, perhaps? An oil company that just hit a gusher? A drug stock with a promising treatment for cancer? Guess again. The chart shows price action in the world’s largest bank, Citigroup. Even in the context of two years’ worth of ups and downs, Friday’s thrust looked pretty impressive. Full Story
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