By: The Gold Report and Michael Berry - 15 July, 2011
Gold is once again hitting new highs, closing at $1,589/oz. on July 14. In this exclusive interview with The Gold Report, Dr. Michael Berry, principal of discoveryinvesting.com and editor of Morning Notes, predicts $1,700 gold by year end. Full Story
By: Marin Katusa, Casey Research Energy Team - 15 July, 2011
It turns out that China is not willing to pay whatever it has to for energy and metal resources. Several resource deals have faltered in recent months, indicating an increasingly choosy Chinese perspective on energy and metal acquisitions. Add to that the growing concern that the global economy is once again stumbling and that commodity prices may be near a top, and you have a Chinese deal-making market that has gone from 60 to zero in no time. Full Story
By: Adam Hamilton, Zeal Intelligence - 15 July, 2011
Copper is growing increasingly popular among speculators, who are catapulting this unassuming base metal up into the rarified ranks of market-darling commodities. Neither precious like gold, nor immediately consumed like oil, copper’s price action is quite unique. And despite some risky headwinds remaining, its technicals are once again turning bullish today. Full Story
Now that Gold has broken out to its all-time nominal high, we have a Showdown with Great Opportunities enabled by, but at the same time threatened by, Great Challenges. Full Story
Gold surged to a new record on Wednesday, propelled by the possibility of a third round of quantitative easing in the US. Already rallying hard on the back of fiscal concerns in the Eurozone, gold jumped to within reach of $1,600 an ounce after Fed Chairman Ben Bernanke said the central bank could take further steps to prop up the US economy if needed (read that as QE3). Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 15 July, 2011
I have been forecasting with near certainty that QE2 would not be the end of the Fed's money-printing program. My suspicions were confirmed in both the Fed minutes on Tuesday and Fed Chairman Ben Bernanke's semi-annual testimony to Congress yesterday. The former laid out the conditions upon which a new round of inflation would be launched, and the latter re-emphasized - in case anyone still doubted - that Mr. Bernanke has no regard for the principles of a sound currency. Full Story
The majority of the world’s developed economies are growing at a sluggish pace, yet the price of NYMEX crude is trading around US$100 per barrel. Interestingly, the price of Brent Crude (the price most nations pay) is even higher! Full Story
So how do the Rothschild Cabal bankers (to include their racial cousins like the Warburgs, Lazards, Oppenheimers [who are not only big in banking but huge in gold, diamonds and the wealth of Africa; this is why US foreign aid to Africa is so important], get away it without yet a major depression and/or excessive inflation/hyperinflation today? How does the US dollar and US bonds supposedly have value and buyers still today? How is it that the Cabal holds things together without some major problems? Full Story
Take a short break from all the hubbub in the United States over the faltering USEconomy, the reckless politicians pretending to come to a USGovt budget agreement (small or large), and the tacit admission by USFed Chairman Bernanke that indeed QE3 is very likely. The June Jobs Report confirmed my forecast of a moribund economy in deterioration. The Republicans will not budge on their refusal to approve tax increases. The Democrats will not budge on their refusal to approve entitlement cuts. The Pentagon through hidden pressures has managed to keep the sacred war off the table for discussion, even though it stands as the largest factor in the federal deficits. But the queer item is that President Obama spent most of his time in the last six weeks raising $86 million for his re-election campaign. His taking the high road in the budget discussion reeks of hypocrisy. Full Story
Economics has been declared the “dismal science,” one in which there are very few opportunities to test the real world outcome of varying decisions made at a high level. Today, the study of economics may be dismal for other reasons: the boost from unemployment benefits and other stimulus programs will soon run out. Full Story
The REEs, PGEs, Lithium and Cobalt are all truly critical to the functioning of our modern society. It’s easy to see why they are classified as critical or strategic. Scandium will increasingly find its way into our everyday lives and undoubtedly take its place on the various critical metal lists. Full Story
Let's say that you live in a capital city under siege, that is surrounded by revolutionary armies. While you don't know the timing, you do believe that the overthrow of the current regime is close to a 100 percent certainty. So you take your life savings and enter into a series of binding contracts with the current regime, under advantageous terms for you. The revolutionary armies enter the capital city, the current regime is overthrown, the new regime repudiates the contracts of the previous regime – and you are left penniless. Full Story
By: David Galland, Managing Director, Casey Research - 14 July, 2011
Because I think it is important for every organization to constantly challenge its own assumptions, I’ve long acted as something of a devil’s advocate here at Casey Research. By constantly pushing our analysts to revisit their assumptions and calculations, it is my firm intention for us to spot the fork in the road that indicates it is time to shift strategies away from investments designed to do well in the face of a currency debasement and to something else. Full Story
GREEK BONDS have lost half to three-quarters of their face value. Six national strikes have all ended in violence already this year. In the three months to April, public investment spending fell 42% from the start of 2010, but total spending still rose – and tax revenues sank – forcing the budget deficit still wider as the economy shrank 5.5% year-on-year. Full Story
On Wednesday gold broke out from a 10-week long box or rectangular consolidation pattern to commence its next major upleg. Fundamentally this coincided with noises emanating from the US to the effect that it is recognized that there is no alternative but to continue with QE. Full Story
Paper money, invented by the Chinese, first appeared in the West in the 13th century. Brought back from China by Marco Polo and his uncles, author Ralph Foster describes the West’s reaction to the hitherto unseen phenomena of money as a piece of paper. Full Story
And what, prêt ell, is money Mr. Bernanke? Is it seen in the unbacked fiat experiments that after a mere 40-years of floating freely are already showing signs of sinking? Or perhaps ‘money’, as Bernanke might define it, is whatever someone in his position can debase at a press of a button? Full Story
By: Jeff Berwick, The Dollar Vigilante - 14 July, 2011
We stand on the precipice of The End Of The Monetary System As We Know It (TEOTMSAWKI) and today is proof of that. Dozens of countries are evolving - not devolving - into revolutions, mostly caused by this non-free-market fiat money financial system. The European Union stands on the brink of collapse. Full Story
Let others worry about trampoline jumping fiat currencies in the financial arena constructed by paperbugs. Gold bulls know all paper is sinking relative to Gold (and silver). It's not rocket science, it's the common sense that seems to be in short supply in a world held hostage by printing press-running central banksta fascists/corporatists. Full Story
By: The Gold Report and Byron King - 14 July, 2011
The lure of platinum is driving Energy and Scarcity and Outstanding Investments Editor Byron King's investment choices for precious metals. In this exclusive interview with The Gold Report, he explains the looming demand and global opportunities. "We could see platinum prices skyrocket," he says. Full Story
We’ve been treating the debt-limit donnybrook on Capitol Hill as a joke, just like everything else that goes on in Washington, but it now seems more than remotely possible that the issue could turn gravely serious. Even allowing for the usual brinksmanship, it’s hard to imagine what concessions either side might make at this point that would be significant enough to break the logjam. Full Story
By: Julian Phillips & Peter Spina, for the Gold & Silver Forecaster - 13 July, 2011
This week, the Greek Parliament voted for additional austerity measures in the face of its voter’s opposition. Will the country be able to implement these? For a country of 10 million people to carry a debt burden of $300 billion is unsustainable. Everyone knows this. With Ireland, Portugal, Spain and perhaps Italy lined up to follow Greece whichever way the Greek tragedy plays out, the consequences to the world’s financial markets are gargantuan. Full Story
By: Clif Droke and David Knox Barker - 13 July, 2011
Barker recently shares with me his thoughts on what he sees ahead for the United States and the emerging markets in terms of the inflation/deflation scenario. He also discussed the debt crisis, China, and the oil price outlook among other topics of interest. What follows is the transcript of that interview. Full Story
By: John Browne, Senior Market Strategist at Euro Pacific Capital - 13 July, 2011
The past few days have been very bad for the world's largest banks. American behemoths Citigroup and Bank of America are down about 7% each. Across the Atlantic, things are far worse. BNP Paribas, Barclays, and Banco Santander are all down 13% or more... and Société Générale is down an astounding 16%! Full Story
By: David Galland and Terry Coxon, The Casey Report - 13 July, 2011
Terry Coxon worked side by side with best-selling author Harry Browne for years and is a rare expert in the arcane study of monetary systems. His remarks at this juncture in time, a time that might end up labeled in the history books as “Money Runs Wild,” are especially germane. Full Story
Congressman Ron Paul questions Federal Reserve Chairman Ben Bernanke in a U.S. House Financial Services Committee Meeting shortly after reports surfaced that the Federal Reserve was preparing for a third round of quantitative easing. Full Story
Gold and silver are threatening to break new ground driven by one simple fact: Nearly all wealthy nations are labouring under one form of debt/monetary inflation issue or another. Ireland and Greek bonds have now been reduced to junk, Japanese bonds became safer than Chinese as reports of China’s massive deficits internally offset the rosy picture supported by 9.5% performance in the Chinese economy. Italy is looming large as the next bailout candidate, and the United States prioritize political brinkmanship over problem solving. Gold and silver are seeking new highs and threaten to break out strongly – especially now that the Fed has acknowledged a willingness to launch QE3. Full Story
The lesson to be learned is that the more money created the more severe the next liquidity crisis will be and that the more money created the less liquidity there will be for financial and real assets to withstand any sort of liquidation panic as the extra money cannot come close to the asset monetary value created by the circulation of that extra fiat money. This is the Gerbino Principle of Liquidity. Full Story
By: Bob Chapman, The International Forecaster - 13 July, 2011
Markets are what they are today because that is the way government wants them. The stock market has stayed up for quite some time, but the best earnings are fading. The Street is well aware of what has been happening for a number of years. They just do not say anything and go along with the program. They have come to overlook situations worldwide as well as in America, because they believe that, “The President’s Working Group on Financial Markets” won’t let the market fall. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 July, 2011
In the last year, according to the B.I.S.’s annual report Central banks have pulled 635 tonnes of gold from the Bank for International Settlements in the past year, the largest withdrawal in more than a decade. The move, disclosed in the BIS’s annual report, marks a sharp reversal from the last year when central banks added to deposits of gold at the so-called “bank for central banks”. Full Story
By: Jeff Berwick – The Dollar Vigilante - 13 July, 2011
Recent trader 'chatter', to use the US Government term, has indicated that some people have become concerned with the "death cross" appearing in major gold stock indices like the Gold Bugs Index (AMEX:HUI). A death cross is denoted when a short term moving average (50 day) crosses over a long term moving average (200 day). Full Story
I give you a futuristic example of real bills in action and how you can put them in circulation. I hope it won’t come to that, but if we find out that the dollar has no dispensation from heaven exempting it from being fiat money and, hence, it can lose all its purchasing power as has every other fiat money in history within a generation, then my epistle may come handy some day. Full Story
By: Chris Martenson and James Turk - 13 July, 2011
The rule of law has basically been thrown out the window. Money printing is the order of the day. And when politicians take control of central banks, which they have done in the United States and they are also doing in Europe, that basically destroys the currency. It puts the currency on the road to what I call the Fiat Currency Graveyard, so I expect there are going to be massive currency problems as we go forward. The financial crisis that we have been dealing with for the last several years has not been solved. Full Story
The debate over the debt ceiling is political theater. There is no commitment to cut spending, because cutting spending creates negative voter responses by specific groups who vote as a bloc. Politicians will not risk this. They prefer to vote for another increase in the debt ceiling, because the pain is diversified over millions of unorganized voters. These voters do not perceive the increased deficit as an immediate problem causing intense pain. They prefer to have Congress kick the can. That is what Congress will do. Full Story
There is another section in Michael Maloney’s 2008 classic ‘Guide to Investing in Gold and Silver’ that is as relevant today as when this book was published and that is his analysis of the inverse relationship between gold prices and stocks and how understanding this can make you rich. Full Story
The bullish target we’d identified Monday night was 1574.40, about $23 above where August Gold was then trading. In the actual event, buyers pushed the futures to an intraday high at 1574.70 -- exactly three ticks from where we’d anticipated a short-term top. They then entered a shallow correction that was still going on as we went to press early Tuesday evening. However, if and when the ‘Auggies’ regain traction, we’ll be looking for a second-wind push over the near-term to as high as 1589.40. Full Story
I told you that the head of the US Treasury, (currently Tim “The Terminator” Geithner) would begin to show his teeth, and eventually replace Ben Bernanke as star of the accelerating crisis show. Here are the latest inspirational words for Elmer Fudd public investor, from Timmy the terminator, "…it’s going to feel very hard, harder than anything they’ve experienced in their lifetime now, for a long time to come…." –Associated Press, July 10, 2011. Full Story
There is panic in the markets: reviving memories of the peak of the financial crisis, investors have recently appeared less concerned about the return on their money, rather focusing on the return of their money. In what is a hallmark of grave investor concern, investors are paying for the privilege of lending money to the U.S. government: the yield on one and three month Treasury bills has been flirting again with negative yields. What’s the panic about? Full Story
The United States is too big to fail. The largest economy in the world is too strong and too influential to fail. The United States economy leads all other economies as it has for the last 100 years; it has extensive ties to the global economic community. What’s good for the US is good for the world. And what’s good for the US government is good for its citizens. Full Story
A run is a mass withdrawal of cash funds from a borrower. We are in the midst of a continuing worldwide credit crisis, punctuated by "runs" of varying prominence and publicity. These runs are rational, not panics and not due to quirks of psychology. They occur when investors realize that their funds are endangered in an institution. They try to get them out before they lose them. Full Story
Historically the precious metals prices drift lower during the summer months, with a bottom in July, although sometimes not until August. At this time of year demand from India is less because the festivals are over and demand from jewelers is low because of summer holidays. Investment demand is also down because buyers are expecting a correction. Full Story
By: The Gold Report, Eric Sprott and Larisa Sprott - 12 July, 2011
Opportunities abound in small- and mid-cap silver companies, according to Sprott Inc. Chairman Eric Sprott. In this exclusive interview with The Gold Report, Eric Sprott and Sprott Money Ltd. President Larisa Sprott say the fundamentals that drive the price of silver are as strong now as before the spring selloff—maybe even stronger—even though volatility is causing buyers to hold back a bit. Full Story
It warmed the cockles to see the Dow Industrials and Gold moving in opposite directions yesterday, even if the latter swooned a nasty $15 intraday before scaling the wall a second time to close near the highs. The world somehow makes more sense to us when gold prices are rising and shares are falling. Isn’t that what’s supposed to happen when the central banks are hell-bent on trashing their respective currencies, and every economy outside of China’s continues to grind toward cliff’s edge? Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 July, 2011
In the media on Thursday of last week, an article appeared in the States stating that “Russia is selling its gold”. This may have alarmed those in the gold world, until they looked carefully at the words. The article gave the impression that the central bank of Russia was selling gold. But what was the real story? Is Russia selling its gold from its foreign exchange reserves? If so, it is flying in the face of its government and the policy of its central bank. Full Story
Last week we wrote about Silver so this week we decided to provide an update on Gold. In looking at the price action and sentiment indicators we find that Gold is once again ripe for what is becoming an annual seasonal breakout. Gold has broken to a new all-time high in three of the past four years and presently, we are anticipating another breakout. Full Story
ASK ANY old lag in the gold market what to expect between now and September, and they'll point you to gold's seasonal shape – clearly seen in well over half the last 43 years of traded action. Up in spring, down and then flat in the summer, gold rises in autumn, recovering (if not beating) that previous high by year's end, or at least rallying to cut its losses in bear runs. Full Story
By: Dr. Ron Paul, U.S. Congressman - 11 July, 2011
The end of June marked what is hopefully the end of the Federal Reserve's policy of quantitative easing. For months the Fed has purchased hundreds of billions of dollars of Treasury debt, enabling the government to fund its profligate deficit spending, push the national debt to its limit, and further devalue the dollar. Confidence in the dollar is plummeting, confidence in the euro has been shattered by the European bond crisis, and beleaguered consumers and investors are slowly but surely awakening to the fact that government-issued currencies do not hold their value. Full Story
As many of you know I believe that we have begun the topping process of this cyclical bull market. In a healthy market an intermediate decline is a profit-taking event after a significant leg up. It should hold well above the prior intermediate bottom. The decline into the June low was not a profit-taking event. The market had not rallied long enough or far enough to warrant an intermediate correction and certainly not one that would test the March lows. The decline in May and June was the first shot over the bow that something is wrong with the fundamentals driving this market. Full Story
In light of the impressive equities market rally from 2009 through 2011, some are wondering if perhaps the economic long wave has bottomed early. I recently received an email asking a question that is relevant to our discussion. He writes, “Suppose the big 120-year cycle hit a few years early, which for a cycle this long would certainly be possible. Perhaps the March 2009 low was the deflationary 120-year cycle low point, and the bull market just carries on for several more years. Is this possible?” Full Story
We've entered summer, a typically slow season for the metals, which is why they call it the summer doldrums. Gold closed June just 1.8% lower than it first started. Just for your information, the average summer drop over the last ten years was 8.6%, which at current levels would bring us to $1,407.53. It is also interesting to note that the summer lows have usually represented the bottom of the market for the remainder of the year, with one major exception, which was the difficult-to-forget year of 2008, which was when the summer decline was merely a harbinger of nasty things to come. Full Story
As the financial world breathed a collective sigh of relief as the Greek Parliament voted to impose further austerity measures on the people of Greece, I wondered aloud to no one in particular how many times we’d have to see this movie before people finally realize that this crisis is a permanent one. There are many analogies that we could use to illustrate what has gone on, but probably the best is a trauma patient coming into the hospital with a severed carotid artery. Full Story
The Warning Flags are Flying. Secretary Geithner has “hinted” he will resign after the presumed next budget deal. It appears he is escaping, just in time… for him! And the World’s Biggest Bond fund, PIMCO, has already “escaped” from U.S. Treasuries. Full Story
First, let’s see what the long term P&F chart is telling us, if anything. I had used a $15 unit chart for the long term in the past but the action has taken us higher to the point that a $15 unit chart is not appropriate any longer to represent the long term. I have increased the Unit price to the $25 level. Today’s P&F chart shows the bull market from the late 2008 lows to the present. Full Story
It was another absolutely fantastic week. Our miners have bottomed from the recent correction which some didn’t even participate in, our dividend stocks are strong as always and near the tops of they're ranges and our swing trading portfolio has been doing smashingly well the past two weeks. Full Story
By: Bob Chapman, The International Forecaster - 10 July, 2011
Just look at the scale of this to get an idea of how massive this game-changer will be, The Agricultural Bank of China has over 320 million retail customers and 2.7 million corporate customers and has integrated its customer account information system with this platform.
By creating the first ever rolling spot contract, Chinese bank customers will for the first time have ease of access to 10 ounce gold contracts in Renminbi directly from their bank accounts and with the click of a mouse. To give a further idea of scale, if just 1% of their customers bought a single 10 ounce contract, that would equate to 1,000 tons of physical gold being drawn down.... Full Story
Nothing is going to be done. Politically, nothing needs to be done before November 2012. The debt ceiling will be raised. There may be some late-night meetings. There may even be a few days when the government has to rob some Peters on the payroll to pay Pauls with more political influence.
Then they will kick the can. They will send a ceiling-raising bill to Obama, who will sign it.
And we'll have fun, fun, fun 'till the market takes our T-bills away! Full Story
When the spinner delivers yarn to the weaver and is offered payment in the form of a bill drawn on the fabric merchant, he will accept it but will apply a discount to the face value. The question is how the two tradesmen can come to an agreement on what rate to apply. There can be only one answer to this question: a lower discount rate will be acceptable to the spinner if the market is brisk; however, a higher discount rate will be insisted on if the market is lethargic. Full Story
So if the Comex price fixing is broken by overwhelming physical demand, and a momentum trade develops in a tighly supplied market then you do have the potential for an exponentially soaring silver price. Those presently stashing their insurance money in gold would therefore be tempted to switch part of it into silver, and so the price would go up and up. Full Story
So trust buster Rosenfeldt and his colleagues supposedly broke up Roggenfelder’s Standard Oil. What they did was break the corporation Standard Oil into several new corporations called Standard Oil of Kentucky, Standard Oil of Ohio, Standard Oil of California, Ashland, Mobil, etc, etc. All of these companies were still in the possession of old man Roggenfelder after the breakup. Effectively, nothing changed. It was all smoke and mirrors to fool the dummies in dummy land to make them think something was being done when virtually nothing was being done. 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.
