By: Peter Schiff, Euro Pacific Capital, Inc. - 15 May, 2009
When, during the invasion of Iraq, the United States Government issued its famous deck of playing cards with the 52 arch villains of the Iraqi police state, Saddam Hussein's face adorned the Ace of Spades. If the Obama Administration wanted to engage in a similar public relations campaign for the real estate crisis, the top card should be reserved for Alan Greenspan. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 May, 2009
It is always so easy to ask someone, “Can I buy at the bottom and sell at the top?” But life doesn’t let too many of us do that and when it does it has a nasty habit of letting us do it once or maybe twice then lets us get it wrong after that. Many believe that once you have the technical picture giving the top and the bottom that will do the trick, but alas, many technical analysts will come up with different prices for tops and bottoms. Full Story
IT'S COMMON KNOWLEDGE that gold bullion proved the most reliable wealth-store during the vicious inflation of the late 1970s. Yet almost un-noticed, gold has once again been the best-performing asset bar none this decade, too. Full Story
By: Daniel Aaronson and Lee Markowitz - 15 May, 2009
The printing of new money usually allows first movers to get wealthy at the expense of others. While a small number of financiers get wealthy, the whole country gets poorer relative to the rest of the world. Typically this scenario only happens within the country that devalues its currency. Yet in today’s current situation, currency pegs are allowing the first movers in the US to acquire global assets with a virtually worthless piece of paper. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 15 May, 2009
Just a few years ago, the junior resource stocks were hotter than the sun. The fact that the accelerating commodities bull was secular in nature was finally starting to sink in for mainstream traders. With a growing world in desperate need of endless new supplies of natural resources, capital flooded into junior resource stocks driving some truly epic gains. Full Story
By: Marin Katusa, Casey Energy Opportunity - 15 May, 2009
The Casey Energy Opportunities team pulled together the pieces of the oil sector picture that other sources tend to scatter or ignore. We’ll give you a broader understanding of the drivers within the oil industry, the markets in which they operate, and how you can use that knowledge to push your profits upward. Full Story
Mainstream Media Boosters of the Notion that the economy is on the mend and that the Equities Markets recent Rally is founded on the beginning of a Real Recovery, are seriously mistaken. Those who are captivated by this Fantasy will likely have an unprofitable year or, worse, suffer substantial losses. Full Story
-Gold remains ultimate form of payment -US debt levels unsustainable – dollar losing status world reserve currency -Gold prices required to counter balance all US public debt held in foreign hands exceed the $10.000 mark -China, Russia calling for new world reserve currency Full Story
All the glad-handing, back-slapping self-congratulatory accolades the Obama administration and Wall Street are heaping upon themselves in the press is scant comfort for the vast majority of citizens now unemployed and of no fixed address. For them, this economic crisis isn’t so much a temporary crisis as a permanent redistribution of wealth and living standards representative of a downgrade in the quality of life. Full Story
People use various economic indicators to make economic decisions that influence their wealth. It is critical to use accurate economic indicators of the conditions that influence wealth. This is true in normal times and more so in times of crisis; poor decisions could be disastrous even wiping out all of your wealth. Full Story
On 16 December 2008 in Oil Majors Should Just Buy Real Gold I wrote, “The entire eligible COMEX stockpile represents an immaterial 0.36% of the current assets of the five oil majors. The oil majors could drain the COMEX with a rounding error. It would be 14% of what Exxon Mobil was spending per quarter buying back stock. Why buy back stock when oil is so cheap compared to gold? Why not just buy physical gold and truck it away?” As the chart shows, Exxon and the other oil majors should have done that. COMEX stockpiles have also precipitously declined. Full Story
Here is one of those busy macro charts that help us tune out the noise of the moment and get a look at the interplay between various things. Gold, unique provider of value, insurance and safe liquidity that it is, has been biding its time in consolidation/correction against all the positively correlated stuff. Full Story
The so-called ‘Green Shoots’ have been trampled by people walking to their Unemployment Insurance Offices to collect jobless claims in order to pay their bills. The so-called ‘Green Shoots’ have been trampled been people walking (or running) away from their homes as they are being foreclosed. The so-called ‘Green Shoots’ will continue to suffer from most water and nutrients heading to the Elite Gardens, diverted from those on Main Street. Full Story
I almost always focus these weekly missives on the precious metals or economy but seldom write about mining companies. This week I decided to give our readers a little taste of one high potential situation we have been following closely. The name and symbol are left out intentionally because many Internet hosting sites do not want company names involved. This is intended to give the reader some insight into the type of potential a Massive Sulfide discovery may entail. Full Story
The last few weeks have seen some occasions where there have been dramatic sharp ticks up on the COMEX intraday charts on the near term June 2009 contract. The first one deserving mention occurred early on April 23d and the next one happened on the morning of May 4th. Both of these upticks prompted me to send a flash news report to subscribers of the analysis of news. Gold was also up $10 on May 12th. But it was a bumpy rise and not like we had on Apr 23d or May 4th. Full Story
By: Richard Daughty, The Mogambo Guru - 15 May, 2009
John Stepek at Money Morning notes that Neils C. Jensen, in The Absolute Return Letter, reports that “using IMF statistics drawn from previous banking crises…the 12 most industrialised countries (including the US, UK and Japan) could need to issue a total of $33 trillion in debt to cover the costs of the crisis. And that’s not even a worst-case scenario – that’s based on the average rise in public debt in the three years following a banking crisis.” Full Story
I’m in New York once again for the annual spring meeting of the CMRE, the Committee for Monetary Reform and Education. This group attracts men and women from the investment community who share your editor’s disdain for fiat money and other falsehoods promoted by Big Government. Full Story
By: Bill Bonner, The Daily Reckoning Crew - 14 May, 2009
Have you checked your stops, dear reader? Remember back in November, we waited for the Obama Bounce? It was the one of the most reliable phenomena in the world of investing, we said. Then, we began to wonder. Month after month…no bounce. Full Story
Seasonally speaking, rallies can and do occur during May, with the second part of the month often turning weak giving back those gains. August, historically speaking, is a better seasonal time for a lasting rally to grab hold than are May, June or July. Full Story
By: The Energy Report and Byron King - 14 May, 2009
A former Navy flyer and one-time field historian on the staff of the U.S. Chief of Naval Operations, Byron King has a gift for putting events into historical context. In this exclusive interview with The Energy Report, he addresses issues of “chronic underinvestment in productive assets.” How will more than six billion people—all wanting a higher standard of living—manage on a planet with dwindling resources? Full Story
Copper prices have now fallen for five days straight, the longest losing streak since the tumultuous period in mid-December when it appeared the whole world was about to come to an end and surging demand for Treasuries pushed the ten-year yield to what can only be described as the "freakishly low" level of 2.0 percent. Full Story
I am repeatedly asked how I can reconcile my belief that we have begun a deflationary depression with my belief that Gold is still in a bull market. As everyone supposedly knows, Gold does well during inflation but lousy during deflation. This is one of the greatest misconceptions ever perpetuated by Wall Street and Gold bug lore. Full Story
The inherently unstable, fundamentally unsound and immoral worldwide financial system organized out of intrinsically worthless debt has exploded into derivatives and imploded into a greater depression. Several of the stronger voices in the financial press evade the D word which hangs over the world economy like the Sword of Damocles. Full Story
Risk has been rising, yes? Well, that would have been the case especially if the SPX had continued higher, unabated in the first three days of this week. Instead however, we got the anticipated pull back in the markets (with gold stocks finally feeling the drag yesterday as well) and the question becomes, 'is it [the pull back] real or is it Memorex?' Full Story
This has been a volatile week for the market. Equities sold off Wednesday pulling precious metals stocks with it. Crude oil had a small pullback but energy stocks took a beating. Full Story
It's a chilly early December afternoon in Boston in the Year of our Lord 1773. You have been visited by an old friend who is a member of the Sons of Liberty. Asa gave you the appropriate secret SOL password, sign and handshake. Not that he needed to. You have been close friends since your youth when you both served on John Hancock's smuggling ship named Tyrannicide. Full Story
By: Richard Daughty, The MOGAMBO GURU - 14 May, 2009
I looked around the barroom and said, “The gold exchange on the Comex is a den of lying, thieving, corrupt bastards who are in cahoots with the lying, thieving, corrupt banks and the lying, thieving, corrupt government!” Full Story
Did the bear rally breathe its last with yesterday’s sharp reversal? We shall see. But we hesitate to call the hubris of the last ten weeks a sucker’s rally, since we do not personally know anyone who did not hate and revile it every step of the way. A “bull trap” is what the rally will come to be called if stocks now fall in the weeks and months ahead, since many who eagerly bought into it will drown as the bullish tide recedes. Full Story
By: Bob Chapman, The International Forecaster - 13 May, 2009
The Secrets of the Federal Reserve: The Federal Reserve Act was legislated in 1913 to end recessions, panics and depression. Over that almost 100-year period they have been eminently no more successful then their predecessors. The Fed is a private corporation, which guides US monetary policy. Its staff is from Wall Street, banking, and transnational conglomerates and occasionally from academia. Full Story
Gold has now doubled since the Euro first got where it stands against the Dollar today... SINCE THIS decade’s Dollar Decline first pushed the Euro above $1.35 in late 2004 – a level it reclaimed this week – the price of gold has gone on to double for both US and Eurozone citizens. Full Story
Is There A Supply Deficit? If you ask the World Gold Council or their “official numbers keeper” - GFMS – they’ll say there is no persistent gold supply deficit. If you ask the folks at GATA – they’ll claim there is an annual 1,000 – 1,500 tonne gold supply deficit. So who’s telling the truth? Full Story
Today's FED is a group of bankers who have the "Money Power" over all other banks and the money supply. This awesome power is like that of Tolkien's One Ring, which controlled all of the other Rings of Power worn by men, elves, and dwarves. Can you imagine what YOU could do if you could snap currency into existence simply by writing a check to yourself? Full Story
The rally has been based on the rise in bank stocks. To understand the rise in bank stocks, you must understand the stress test. Saturday Night Live understands this quite well. Full Story
By: Richard Daughty, The MOGAMBO GURU - 13 May, 2009
This massive creation of money and credit will lead to a lot of inflation in consumer prices sooner or later (mostly sooner, and for a long time, too!), because that is what always happens, which explains why I have gold and guns, but does not explain why I wear an aluminum foil hat. Full Story
The scene at the Hard Assets Investment Conference in New York City looks pretty subdued this year -- an encouraging sign, since it will be time to exit precious metals when this annual event reaches the frothy stage. For now, though, frothy it is not. I'm told that there are only half as many exhibitors this year as last, continuing a pattern of decline that began a couple of years ago (when, need I remind you, gold quotes were nearly 40 percent lower). Full Story
By: Bill Bonner, The Daily Reckoning - 12 May, 2009
There are two broad theories concerning the great men of history. One says that history is made by great men. The other says great men are made by history. But here at The Daily Reckoning we think they’re both wrong. In our book, great men don’t really exist. They are merely invented by the historians. Full Story
Once upon a time, Byron King shunned writing letters to the editor. He was afraid that one might actually appear in print. That sounds like the stuff of fairy tales when you’re talking about someone with as prolific a pen (or keyboard) as Byron. A one-time field historian on the staff of the U.S. Chief of Naval Operations, he has a gift for putting current events into an historical context. Full Story
By: John Browne, Senior Market Strategist, Euro Pacific Capital - 12 May, 2009
America is more than a country; it is the ideal of liberty. In economic terms, liberty translates into the entrepreneurial spirit of hard work, risk taking and self-reliance. And this spirit has made America rich beyond compare. Full Story
In the event of a breakout at the green arrow (which now appears to be underway), the result will be a very strong ‘up-move’ as all that pent-up demand below 350 becomes unstuck. The pattern is an inverted ‘head and shoulders’ formation with the neckline at 350. The RSI and MACD are positive (green lines). Assuming the breakout succeeds - the target is 550! Full Story
Recently, stock markets appear to have experienced an almost euphoric phase, seemingly shrugging off most negative news flow day after day. Whether or not you believe in the so-called “green shoots” of economic recovery, a significant economic rebound, or a continued decline in economic activity, one thing seems abundantly clear: investors have been becoming less risk averse. Full Story
Last week a three-man team from the Gold Anti-Trust Action Committee (GATA) presented to an audience of more than 70 people including portfolio managers, brokers, journalists, and gold mining executives in London. The event was hosted by Adam Fleming, chairman of Fleming Family and Partners and South African gold company Wits Gold. Full Story
By: Steven Saville, Speculative Investor - 12 May, 2009
One of our readers sent us a very interesting article from itulip.com entitled "Everyone is wrong, again -- 1981 in Reverse Part II: Nine Signs of Inflation". The article is an explanation by Peter Warburton (the author of the book "Debt and Delusion") of why generalised 'price inflation' is likely to become an issue by early next year, with comments by itulip's editor (Eric Janszen) interspersed. Full Story
Bernie Madoff’s hedge fund operation turned out to be a $65 billion fraud, and while the current boom in interest in precious metals might not produce a scam on that scale investors from the Middle East should take care. Full Story
This is the promised follow-up to my earlier article entitled “Warrants: The Devil is in the Detail” regarding the merit of my decision to forego buying a particular warrant at the time of issue. What can I say other than that I was dead wrong in my assessment of the buying opportunity it presented. It has turned out to be a ‘grand slam’ of an investment rather than the possible ‘bunt’ that I feared. Full Story
Will the wealth destroying policies of the Obama Regime make the People’s Bank of China full-fledged Gold Bugs? Chinese officials announced their purchases of Gold, and continue to raise concerns about U.S. economic policy and the associated implications for the value of the U.S. dollar. One might think they have indeed become Gold Bugs. Full Story
By: Richard Daughty, The MOGAMBO GURU - 12 May, 2009
In a bit of good news, NyTimes.com had the headline “Goodbye to Naked Shorting” by Floyd Norris. He reports that it looks like “naked shorting – the practice of selling shares short without borrowing them – is almost gone.” Full Story
Will homes maintain their value best in expensive neighborhoods, where homeowners presumably are not under the gun to sell or even to make mortgage payments? I’ve argued the opposite – that in percentage terms, high-end homes are likely to fall the hardest as the nation’s real estate crash runs its course over the next 4-5 years. Full Story
By: Bill Bonner, The Daily Reckoning - 11 May, 2009
We made a brief trip back to France for a board meeting. Returning to London, people all seemed to be in mourning. Black is the color in London. Everyone wears black. Black pants, black skirts, black coats… Full Story
I’ve just learned something about silver that I was only vaguely familiar with previously, and I’d like to share it with you. It had a big impact on me. When I shared it with my friend and mentor, Izzy Friedman, the person who first got me interested in silver, he said it was something he never knew and he called it a bombshell. I can tell you that Izzy doesn’t use that term often. As always, I’ll let you decide for yourself. Full Story
October 27, 2008 was the gold mining sector’s Black Monday, the day nearly every stock hit rock bottom. Hindsight makes it plain they got caught in the violent deleveraging that sucked down every equities market in the world. Full Story
Many are wondering what the heck is going on in the natural gas (NG) market, because if it’s suppose to be such an essential commodity, why does the price keep crashing, especially with stability found in the larger equity complex? To answer this question properly, we must first set the stage with the appropriate background understandings, where because of the extremes in pricing we are seeing here, previous efforts in this regard now appear insufficient. Full Story
The Great Reflation has begun. All of the massive fiscal and monetary stimuli start to hit the markets. They’re starting to hit the economy too, although to a much lesser extent. And the bulls are off and running. It’s the Great Reflation. Full Story
U.S. Dollar - One of the rarest technical formations we get to see is a diamond formation. It’s one of the surest formations when broken. I believe the break to the downside is yet another signal that the dollar is a “dead man walking”. Full Story
This continues the review of technical analysis which I began in my April 20, 2009 article. At that time, we reviewed the saucer bottom and the resistance level represented by a former high. We also discussed Thomas Aquinas’ theory of the fair price and how the vast majority of the people make the mistake of believing this. This makes it possible for us to know how they will behave and to take their money. Believers in Adam Smith win, and believers in Thomas Aquinas lose. Full Story
I begin by describing quantitative easing in technical terms. I go on to describe what it means when a central bank and its government engage in quantitative easing. What is quantitative easing? It is a central bank’s "purchase" of government securities (bills, notes, bonds) directly from the government. Full Story
By: Jason Hommel, Silver Stock Report - 11 May, 2009
I'll be in Las Vegas for the Money show from May 11th to the 14th. Yes, I've been busy buying and opening up a coin shop, and traveling to shows on occasion again. I've also been buying and setting up a mint! But I did not intend to release any information about that until after I set it up. After all, until then, it's not even a futures contract, and also I don't want to deal with any inquiries about any minting projects until AFTER we get set up. But Thom Calandra got the scoop! Full Story
The multi-billion dollar question for precious metal investors today has to be how gold will perform as this sucker’s rally in stocks goes spectacularly bust. Full Story
Hopes that the U.S. economy may be emerging from the Great Recession went viral over the weekend, leaping from the pages of the Wall Street Journal into the headlines of every small-town paper in America. Here in Boulder, Colorado, amidst a prom season that saw at least a few kids forego the traditional stretch limousines in favor of parental chauffeurs and, omigod, shuttle buses, the business section of The Camera led with a story about how “The Worst May Be Over.” Full Story
1st Hour: Headline news & Market Weatherman Forecast. Spotlight Stock Picks with big dividends. The International Forecaster and Host Chris Waltzek answer listeners' questions. 2nd Hour: Matthew Simmons, Twilight in The Desert Full Story
We are going to start this article with a premise, which is that the bond market and the dollar are much more important to the powers that be in the US than the stockmarket. Two months ago the stockmarket was plumbing new lows and the end of the world was nigh. Now, instead, you walk down Wall St and everything is smelling of roses. Unfortunately, however, there is a massive storm threatening to break that will necessitate the immediate sacrifice of the stockmarket, and especially those mugs who have been taken in by the recovery hype being doled out by the media and have been buying the market in the recent past. Full Story
Gold, Silver and Oil breaks out to new multi week highs and shows signs of more strength to come. The charts below show both weekly and daily trading analysis pointing to higher prices for these commodities. Full Story
By: Bob Chapman, The International Forecaster - 10 May, 2009
On Friday the dollar completely broke down, with the USDX collapsing to about 82.5, as monetizations by the Fed became a stark reality. A world stock market collapse could be imminent as a source of dollar support. We wonder how low they will let the dollar go before they collapse the stock markets to chase people back into US treasuries, which have also broken down, with treasury interest rates on the rise despite various Fed purchases of treasuries in the hundreds of billions. Full Story
By: John Mauldin, Millennium Wave Advisors - 10 May, 2009
Go to Google. Type in "green shoots." In about a 10th of a second you will find 28,900,000 references. Scrolling through a few pages, you find a lot of references to the beginning of the end of the recession. Today we look at some data to see if we can indeed see the end. Most readers will be surprised to know that the number of people employed in the US went up (!) in April. Yet so did the unemployment rate. Is that green shoot just another dandelion weed in our economic garden? Full Story
The euphoria of Wall Street over the bank stress tests and the mere $75 billion in new money required to shore up balance sheets failed to stop precious metals advancing again last week. Gold closed at $915 and silver above $14 an ounce, while the US dollar index fell to 82.4 below the level that some technical analysts held as being an important support. Full Story
VP Biden and former Fed Chairman Paul Volcker don’t remember any time when things went down quite so fast, quite so uniformly around the world. The current crisis looks more like the collapse of the Soviet Union: in October 18, 1991 when Gorbachev signed an agreement forming a new economic community. Full Story
Most of us have been exposed to the Mutiny on the Bounty (c1789). At least two Hollywood movie versions have been made of this historic event. The thing that really stands out in the movies is the cruelty and tyranny of the Bounty’s skipper, Captain Blight. It was bad enough that Bligh was cruel and mean to the crew but he also was a thief who had a habit of misappropriating some of the crew’s food rations for his own family. Full Story
By: Richard Daughty, The MOGAMBO GURU - 10 May, 2009
“Gold Isn’t Going To $2,000 An Ounce” is both the headline and the announcement of Jeff Clark at CaseyResearch.com, a conclusion he apparently reached after he “decided to take a fresh look at calculations that could be used to appraise gold’s upside potential.” Full Story
Another week, another move higher. I am nearly convinced that the storm has passed now and that sunny days are ahead for a long time. That is what I will say in 2012. We are far from through the storm and I don’t think we have even come to the eye of the hurricane yet. Full Story
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
