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Weekly Archive
By: Mary Anne & Pamela Aden - 15 June, 2007
The gold market has been under pressure lately and some investors are feeling a little nervous. But the major trend is clearly up. That being the case, let’s stand back and look at the facts... Gold has been rising for over six years and it’s gained 158% since then. That works out to 26% per annum, which has consistently been better than most other markets. The recent weakness is a bump in the road and it’s not unusual. We continue to believe that gold will likely rise for years to come, eventually reaching at least $2000 and it’ll probably go even higher. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 15 June, 2007
-Sweet and empty lies like diet cola…the throbbing pulse of good economic health…
-Middle-aged economies are no match for emerging markets…the ambiguity of truth…
-Asset prices gone wild…rising interest rates like a bubble-popping javelin…a hero in the desert…and more! Full Story |
By: Peter Schiff, Euro Pacific Capital, Inc. - 15 June, 2007
At a commercial real estate conference earlier this week, Alan Greenspan downplayed concerns that the Chinese might sell their significant holdings of U.S. Treasuries. The former Fed chairman based his opinion not on the inherent investment merits of Treasuries, but rather on their lack of them. His confidence stems simply from his belief that the Chinese have no one to whom they can sell. Furthermore, Greenspan sees this as a problem for the Chinese and not the U.S. Full Story |
By: Adam Hamilton, Zeal Intelligence LLC - 15 June, 2007
I don’t think any gold-stock investor or speculator can deny that sentiment is pretty darned pessimistic today. Despite high gold prices in historical context, a surprising number of gold stocks are trading near multi-year lows. And the information flow regarding gold and its miners is overwhelmingly negative. Countless theories articulating why gold stocks are certainly doomed vie for traders’ attention. Full Story |
By: Jason Hommel - 15 June, 2007
The world's central banks continue to print up as much paper money in one year, as the total value of all the gold ever mined in all of human history. Both annual paper money creation, and all the gold in the entire world ever mined in all of human history, are both worth about $3.3 trillion, or $3,300 billion. Swiss gold sales of 250 tonnes are worth $5 billion. Swiss gold sales pale in size in comparison to the Bank of China's $1200 billion of reserves. China hopes to diversify 5% of that into gold, which is $60 billion. Where is China going to get $60 billion worth of gold, or about 2871 tonnes? Full Story |
By: Deepcaster - 15 June, 2007
From a fundamental perspective the prospects for profiting from Gold’s ascending to its rightful place as The Monetary Metal with a 4-figure dollars per ounce price tag have rarely been better. But, will Gold bullion prices skyrocket any time soon? Full Story |
By: Peter Degraaf - 15 June, 2007
There was more BAD NEWS this morning, and gold initially dropped 3.00; the news release that Switzerland is going to sell 250 tonnes of gold during the next 2 years. What a pity that even the Swiss money managers feel compelled to sell their treasure, supposedly to pay off debt. The fact that gold only dropped 3.00 is GOOD NEWS! The increasing demand from India alone, projecting their quarterly increase out over the next two years, will more than absorb this ‘gold give-away’. Full Story |
By: Donald W. Dony - 15 June, 2007
There will be a time when gold and silver stocks shine in performance, but that time is definitely not now. After over 12 months of flat performance, investors will have to endure at lest another 6-8 weeks of weakness. Full Story |
By: Rick Ackerman, Rick's Picks - 15 June, 2007
Stocks have recouped only about two-thirds of last weeks losses so far, but I wouldn’t bet against a finishing stroke today that finishes the job. It’s Friday Follies day, after all, and that is typically when zany, crazy opportunism reaches its apogee on Wall Street. Full Story |
By: Tom Au & The Daily Reckoning Crew - 14 June, 2007
-Wealth and power are migrating East…first ever Global Bubble still expanding…
-All the hustlers of the art world on display…desperate to get rid of cash and credit…
-Ever-present excitement in Zimbabwe…returning in triumph…and more! Full Story |
By: Jim Willie CB - 14 June, 2007
In late March, an article pointed out the massive powerful cross currents in the USTreasury bond world. We are seeing the forces described finally at work. The aftermath has generated more questions than answers. In “Cross Currents for USTBonds” (click here), several bullish factors were cited for bonds, but also several bearish factors were cited also. Full Story |
By: Doug Casey - 14 June, 2007
Inertia weighs on an investor, trapping him in a state of paralysis and freezing his portfolio, almost forcing him to hold on to whatever he already owns – for no better reason than that he already owns it. He hopes that every one of his old shoes will go up, even if the reason for the purchase is long forgotten or the environment in which the investment might have prospered has vanished. People who substitute hope for cold-blooded analysis almost inevitably wind up losing money. Full Story |
By: Adrian Ash - 14 June, 2007
"TOO MANY PEOPLE think risk is dead, that they can't lose money anymore," said Tom Metzold, manager of the Eaton Vance Municipals Fund, at the Reuters Investment Outlook Summit in New York earlier this week. Metzold has been buying higher-rated bonds – and selling junk – to raise the credit quality of his portfolio. "We're selling stuff that others continue to buy," he told the conference – and selling risk amid this bubble in credit is already costing him money. Metzold admits that he's underperforming his peers. Full Story |
By: Harold Leishman - 14 June, 2007
The number and value of Initial Public Offerings (IPOs) on Canadian markets have increased dramatically in recent years, yet they remain an enigma to many investors, who aren’t sure how to participate in them or how to assess their potential risks and rewards Full Story |
By: Chris Powell - 14 June, 2007
Constitutional scholar, writer, and lawyer Edwin Vieira has been retained by the Gold Anti-Trust Action Committee Inc. to lead an inquiry into the disposition and possible impairment of United States gold reserves. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 14 June, 2007
The leadership the Chinese economy is in the hands of people just as stupid and corrupt as the ones in charge of all the other economies, and there will be a huge price to be paid for acting that way. Full Story |
By: John Rubino - 14 June, 2007
Most financial bubbles are pretty easy to spot: An asset class climbs way beyond what old-fashioned valuation measures used to define as reasonable, market participants start acting like idiots, and pundits rationalize the madness with learned “new era” theories. Think late-90s tech stocks or California houses in 2005 or today’s Shanghai stock market. This kind of bubble announces itself loudly, making it easy to ridicule and/or bet against. Full Story |
By: Rick Ackerman, Rick's Picks - 14 June, 2007
I believe that the fundamental driver behind the recent sloppiness in stocks and gold is the sharp rise in bond rates. Most of these hedge fund pups that are whipsawing the gold market can't remember, or do not know that the great gold move in the 1970's was accompanied by higher rates all through the decade. We should see the same relationship from here. It might take a little more time but the breakout is inevitable. Full Story |
By: Mark Skousen & The Daily Reckoning Crew - 13 June, 2007
-Class of '07 headed for hedge funds…the $9.1 million stamp collection…
-Retiring later for financial security…the real money is in redistribution…
-Having a few spots removed…a cold day in hell before we believe politicians…and more! Full Story |
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 June, 2007
The Bank of Spain's recent gold sales are part of a strategy to shift its reserves into more profitable fixed-income instruments, Spanish Finance Minister Pedro Solbes said last week. Anyone with a modicum of knowledge of finance gasped at the sheer ignorance of the words. Full Story |
By: Bob Chapman, The International Forecaster - 13 June, 2007
Our Federal Reserve, led by Sir Alan Greenspan, created the real estate bubble and the Fed knew, just like we knew, exactly what the result of their policies would be – in one word, disastrous. It was a transparent scam. Writing mortgages for people who had no chance of paying them back. We are in the midst of a housing collapse that attended by higher interest rates will bring the stock market down. The combination of the two will bring not only the US economy down, but the world economy as well. Full Story |
By: David N. Vaughn, Gold Letter, Inc. - 13 June, 2007
It continues to amaze me how many people still do not get it. Their eyes are merely focused on the barometer, gold, and not the real culprit, the US dollar. And what presently is occurring with the ole’ dollar? Full Story |
By: Brady Willett - 13 June, 2007
The guaranteed yield on the 1-year Treasury bond broke above 5% yesterday and – suddenly? – a risky dividend yield of 3.05% becomes ‘less attractive’? Why were the lowly yields on utilities, which are the highest of any S&P group, not ‘unattractive’ a couple of months ago or even last year? Full Story |
By: Ned W. Schmidt, CFA, CEBS - 13 June, 2007
Reality can truly be a shocking experience. For more than a year, paper equity markets have been deluded into thinking interest rates would decline. Suddenly, looking around the world the discovery was made that interest rates in most countries were rising or were going to rise. Decades ago, the U.S. set domestic interest rates. Today, interest rates are controlled by global investors. Full Story |
By: James R. Cook & Theodore Butler - 13 June, 2007
After 60 years of deficit consumption, the amount of silver available per capita is the lowest in history. At precisely the same time the amount of investment buying power is the highest in history. Throw in the manipulation, the short position, the unrelenting demand from China and India, and the obstacles to increased mining production and I need to lie down and be calm to tone down my long-term bullish feelings. Full Story |
By: Chris Mayer & The Daily Reckoning Crew - 12 June, 2007
-Vanity in the neocon plan for the world…the all-seeing eyes of Mr. Market…
- Outsmarting the rest of the investing public…cheap tuition for new students in the Chinese market…
-The absurd pratfalls of stooge-like money…planets align to portend bad things…and more! Full Story |
By: Eric Hommelberg - 12 June, 2007
In times like these when bearish sentiment towards gold is reaching new extremes again and gold bears feeling comfortable feeding the gold community with ludicrous mis-information it’s good to take a few steps back and take a peek at the big picture and wonder what critical drivers launched the gold prices in the first place from a 22 year low of $250 in 2001 to current prices of $650 in 2007. Full Story |
By: Adrian Ash - 12 June, 2007
The mere thought of higher global interest rates continues to spook the US bond market. The yield on 10-year Treasuries – the global benchmark for the price of money – broke above 5.0% for the first time in nearly a year last week. Spotting that shock caused a sell off in equities, junk bonds, credit derivatives, even gold. Full Story |
By: The Mogambo Guru & The Daily Reckoning Crew - 11 June, 2007
-A sky-high market for collectible photographs…so easy an idiot could do it…
-The best kind of wealth…as credit bubbles pop, humility goes up…
-Every bit of throwaway junk is flying high…a promising, but stagnant investment…and more! Full Story |
By: John Rubino - 11 June, 2007
A world run on two or three fiat currencies, issued and accepted by diktat...becomes only more likely every time that drug-lords in Moscow trade a kilo of crank. But as a store of wealth for the future, gold keeps winning out. Since the dream of a European single currency became flesh at the start of 2002, gold has averaged 10.3% year-on-year gains measured in Euros. Full Story |
By: radio.goldseek.com - 11 June, 2007
This Weeks Guests & Highlights:
Catherine Austin Fitts.
Franklin Sanders.
NEW IPO Market Indicator.
$300 Oil? Matthew Simmons & T. Boone Pickens crude oil forecasts. (YouTube)
3 Spotlight Picks with big dividends! Full Story |
By: Bob Chapman, The International Forecaster - 10 June, 2007
The pressure is still on gold and silver. Toward the end of Wednesday’s session we found out there was another large physical seller. On Thursday and again today, Friday, there were a series of large central bank sales that took gold down to $661 from $670. The gold manipulation was bad, as was the silver attack, but the attack on currencies was open arrogance and overwhelming. The last we saw the dollar was up .44 to 82.28. As we predicted interest rates, yields and mortgage rates are airborne. This makes for an uglier real estate market and downward pressure on stocks. The corporatist fascists have problems. Full Story |
By: Clif Droke - 10 June, 2007
A major news service ran a couple of feature stories on the Internet this week on the topic of high gas prices. Although different in the details, it was substantially similar to articles they’ve run off and on over the past two years. This particular article seems to appear whenever gas prices get so high that Americans start grumbling and passing around that chain e-mail about boycotting ExxonMobil. Full Story |
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