Today, April 15th, most of us grudgingly settle our annual obligations with the government tax authorities. But for how long will we keep doing this? How long will we support the government’s Ponzi scheme that makes a mockery out of the monies we have annually contributed obediently to our Social Security and Medicare accounts? What I am going to share with you may make this a haunting question for you throughout the next taxation year. Full Story
We have to give the March tug of war to the bulls based on market levels and economic news. Those of a more ursine persuasion can still rightly point out that the rally really is getting very long in the tooth. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 16 April, 2010
Silver’s recent rallying action is starting to catch traders’ attention. Since the end of its latest correction in early February, this white metal has surged 23% higher. It has well outperformed gold, which only climbed 9% over this same 9-week span. And based on silver’s strong historical relationship with gold, odds are today’s silver rally is only beginning. Silver’s gains should accelerate in the months ahead. Full Story
LESTER BANGS getting loaded on speed, brandy and casual violence...throwing empty bottles down onto the street and assaulting a good friend's long-time partner...before reviewing Lou Reed's Metal Machine Music... Full Story
The biggest danger to your wealth isn’t a bubble in China or Europe – it’s the IRS. Since 1987, top earners have been taxed between 28 percent and 39.6 percent, a relatively low range compared to the 50-percent-and-above rates for most of the century. However, with enormous annual deficits and Social Security lurking around the corner like a mugger, the future promises a return to old tax norms. Full Story
A Cynic might be tempted to say that the Mobbing of the Mortgage Banker is yet another Gold-Positive Development. One wonders what the (former) Homeowners will do when most finally notice the Purchasing Power of their Fiat Currency is seriously Eroding. Full Story
The current situation on the USD Index and gold appears to be in tune with each other even though the statistical numbers don't confirm it, which is a particularly interesting state. Therefore, we decided to provide you with a follow-up regarding our recent gold / usd analysis and let you know what we believe is going to take place in the gold market soon. Full Story
Congressman Ron Paul questions Federal Reserve Chairman Ben Bernanke at the Joint Economic Committee hearing "The Economic Outlook," April 14, 2010. Full Story
Freddie and Fannie certainly had a large role to play in the housing crisis and many may claim that they were the main contributors of the housing crisis which eventually resulted in a market meltdown. Before we proceed let’s get some background info on these two chaps. Full Story
By: Richard Daughty, The Mogambo Guru - 16 April, 2010
The Financial Times had the article “Greenspan Mauled Over Role In Meltdown”, which was about that loathsome, worthless lunatic Alan Greenspan testifying at the Financial Crisis Inquiry Commission, which is enough to make you laugh in itself; the morons who perpetrated constant deficit-spending are facing off with the guy who provided the money and credit with insane levels of monetary inflation to make it happen! Hahahaha! Full Story
My research on the Iceland crisis, now in the media, suggests that the little nation of Iceland (of something just over 300,000 people) lost the control of its money and banking system to the Rothschild Cabal gang of thieves and money manipulators some years ago, as also happened in many other nations. Full Story
We must confess that our heart wasn't in it when we suggested here the other day that the stock market's already superheated rally might accelerate rather than flatten with the approach of summer. Such a scenario is of course possible, and it did occur last year. But this time around, with stocks trading nearly 40% higher, it would flout Mother Nature in ways that are most difficult to imagine. Full Story
By: Gary Dorsch, Editor, Global Money Trends - 15 April, 2010
With only the slightest degree of hesitation, the Dow Jones Industrials penetrated the psychological 11,000-level this week, extending its historic gains to +70% above its March 2009 lows, and melting away deep-seeded skepticism over whether equities have gone “too-far, too-fast,” in what is the least-loved bull market in history. Yet the bearish skeptics might want to judge the outlook for the US-economy through the lens of the stock market, rather than vice versa. Full Story
Just when you think that the statistics can’t get any worse for the graduating class of the Obama Administration’s Home Affordable Modification Program, they do. Otherwise known as HAMP, this program is apparently designed to convince people who really can’t afford their current debt load that they really can. Full Story
Last night I got lucky and predicted the low of the market today. In fact, I recommended a purchase of the mini gold at 1150.6 and told those who follow my oral and written updates to take 50% profit, at the market on my 11:30 AM CST update. I continue to favor the long side. If after a bit of consolidation prices start moving up again, the $1200 level would be the next logical target. Full Story
By: Jake Weber, Editor, The Casey Report - 15 April, 2010
The catch phrases “Buy low, sell high” and “The market fluctuates” are probably the two most frequently used clichés of the investment world. The latter statement is hardly astute, and the former far easier said than done. What both of these simplistic ideas overlook is a third concept largely ignored by the investing public, “Sell now, buy later.” Full Story
The fact that people are even talking about a global New Deal is a sign that the psychology has radically changed. The socialists are excited because they think we’re headed in that direction, but I think they’re in for a major disappointment. I think we’re heading for a shift [in psychology] to a degree larger than the previous shift in political psychology. I sincerely believe the Tea Party movement is an early manifestation of this emerging shift, which I believe will be toward the Great Republic. Full Story
While Gold is a hedge for inflation and deflation, that doesn’t mean that gold stocks are a hedge or outperformer in either environment. As we wrote last year, gold stocks tend to perform better when deflation is the concern. Full Story
We continue to see risks ahead for the U.S. economy, and in particular, the U.S. dollar. Significant global imbalances remain – indeed; the recent global financial crisis has served to exaggerate many of these imbalances. Of grave concern is the unsustainable Federal budget deficit, which may have morphed out of control, with no signs of government constraint over the near-term. Full Story
By: John Browne, Senior Market Strategist, Euro Pacific Capital - 15 April, 2010
Much to the relief of jittery global markets, Greece's chronic debt problem has been papered over in a burst of European solidarity and apparent magnanimity. But this act of mercy may cost Germany its key position of financial dominance over the European Central Bank (ECB), which, in turn, could be detrimental to the long-term health of the euro. Full Story
By: Richard Daughty, The Mogambo Guru - 15 April, 2010
Most people know me as the peachy kind of wonderful guy who, when you are piteously beaten down by a cruel and unforgiving world, and you tearfully reach out for a little helping hand, will tell you to quit that whining crap, get your stupid butt up off the ground, and go out to buy more gold, silver and oil... Full Story
Better take a mental snapshot of yesterday’s glorious economic news, since it’s hard to imagine things will get much better. Retail sales for March were up a reported 1.6%, the service sector supposedly is rebounding nicely, and big-ticket items are starting to sell like it was 2006 all over again. Economists were ecstatic, of course, since the torrent of good news allowed them to upwardly revise their forecasts for 2010 and beyond. Full Story
By: David Galland, Managing Director, Casey Research - 14 April, 2010
As the price of gold rises and the inevitable quacking begins again about the “barbaric” metal being overvalued, I thought a quick check-in with the historical perspective might prove useful. The first of two charts that follow shows the long-term picture of gold from 1970 to the present, correctly adjusted for inflation. Full Story
The St. Louis Federal Reserve Bank, which documents the inner workings and balance sheets at the nation's central bank, just released new research and data suggesting that the Federal Reserve lent $421.8 billion – with no one knowing exactly where it went. Full Story
Summing up, the rally in the precious metals sector might appear to have ended, but so far we don't have any evidence that PMs are to plunge from here. Yes, the momentum is not that strong as it was just a few days ago, but consolidations from time to time are imminent. Full Story
During most of world history, financial assets have been a small fraction of total wealth. But a number of "innovations" over the last one hundred years have created an imbalance that the world has never seen before. Today, financial assets represent 95% or more of the total wealth in the world. Full Story
The question is... "Will mining shares payoff more than physical metal when the manipulation ends?" My answer is maybe...but ONLY if the fiat monetary system stays in tact. If the crash is as serious as I think it will be, I can't see mining shares paying off. They will all be nationalized. Full Story
By: Bob Chapman, The International Forecaster - 14 April, 2010
Those of you 60 years old and older will spend the next 25 years struggling to survive one of the worst depressions in history or doing whatever you can to support your children and grandchildren. Full Story
We could be very close to the end of a financial era that started about 1971. The monetary system as we know it today, which is backed by a changing (non stable dollar), appears to be in its final stages and just waiting for a fierce run to gold, silver and certain other non monetary assets, to provide the death blow. Full Story
Gold's bull market is starting to get warmed up again. The gains ahead in Gold are going to be greater than what we have seen since the secular bull market began at the turn of the century. Gold will continue to outperform general stocks, real estate, bonds and most if not all commodities. Full Story
By: Richard Daughty, The Mogambo Guru - 14 April, 2010
Junior Mogambo Ranger (JMR) Jim L. sent me a link to “Bernanke Wants to Eliminate Reserve Requirements Completely” posted at finance.yahoo.com. First, starting with the explanation, we learn that “Up until now, the United States has operated under a ‘fractional reserve’ banking system. Banks have always been required to keep a small fraction of the money deposited with them for a reserve, but were allowed to loan out the rest.” Full Story
Although Comex Gold missed a bullish trigger point by a hair the other day and has since sold off by about 2%, we expect the loss to be easily recouped, and gold quotes to be bounding sharply higher, by no later than next mid-week. Readers may recall that we recently projected a surge in June Gold to at least $1245 once $1171.80 was exceeded. Full Story
By: Marin Katusa, Senior Market Strategist, Casey’s Energy Opportunities - 13 April, 2010
Over the Easter weekend, seven nuclear reactors throughout the United States stopped operations, and natural gas prices skyrocketed by over 20%. And this was when most of the country was enjoying mild weather and businesses were shut for the long weekend. Full Story
Years ago, Jimmy Stewart played the lead in a movie titled, Mr. Smith Goes to Washington. In this case, it was Mr. Butler goes to Washington. Who did you meet with? Full Story
When the global economy collapsed in 2008, governments rescued the banks, the very ones responsible for the collapse. This is because without the banks’ debt-based paper money, governments could not spend the vast amounts they do not really have. Full Story
By: Steven Saville, Speculative Investor - 13 April, 2010
Excluding the people who labour under the delusion that the US is still the "land of the free" and China is still a Soviet-style basket case, most people fall into one of two groups when it comes to their views on China's economic prospects. The first group is outright bullish on China's prospects over all time periods, while the other is very optimistic on a long-term basis but is concerned about the potential for a painful 'correction' within the next couple of years. In other words, most people are long-term bullish. We, however, are not. Full Story
Several weeks ago I speculated that we were “On the Brink of an Asset Explosion” . So far events are unfolding about as expected. I might even say they are moving more aggressively than I thought. Well actually, there’s no doubt this cyclical bull is unfolding much more aggressively than anyone expected. Full Story
By: The Gold Report and Michael Ballanger - 13 April, 2010
While Union Securities, Ltd. Investment Advisor Michael Ballanger says we're still in a vintage bear market situation, he sees opportunities for investors in the junior mining sector. In this exclusive interview with The Gold Report, Michael explains the rule of thumb he uses when investing in the juniors. Full Story
By: Richard Daughty, The Mogambo Guru - 13 April, 2010
Julian Phillips at Goldforecaster.com writes that Saudi Arabia, the major oil exporter, “exported more oil to China than to the United States last year” which is kind of surprising but not too alarming if you have been taking your medications as prescribed, or if the rise in Chinese consumption was not too severe, but instead imports are rising gently in a non-threatening way, so that consumption is not soaring and everything is kind of just, you know, perking along real peachy. Full Story
By: Dr. Ron Paul, U.S. Congressman - 12 April, 2010
Last week the federal government’s Financial Crisis Inquiry Commission held hearings as part of their continuing investigation into the causes of the acute economic meltdown which occurred in late summer 2008. This bipartisan commission, partly inspired by the Pecora Commission- which investigated the causes of the Great Depression- is expected to report back to Congress before the end of the year. Full Story
The inexorable onset of accelerating inflation, matched with a global decline in gold production, will underpin high-flying gold prices for years to come. So says John Embry, a world-renowned long-time gold advocate and the chief investment strategist at Toronto-based Sprott Asset Management, which runs the Sprott Gold and Precious Metals Fund. Full Story
Orwell was right all along. Big Brother (the bureaucracy) is to grow too powerful for anybody’s good. And this is now happening in America, where the Ministry of Truth broadcasts endless propaganda daily to affect opinion and beliefs, and the authority of the Thought Police has grown to such proportions we can now say, here we are, totalitarianism is upon us a la 1984. Full Story
Back in 2006 (and well before), the blogger was touting a simple message of perspective with regard to gold. This perspective is rooted in the idea of something of monetary value in a world so obviously off the charts when it comes to sound stewardship of monetary systems. Full Story
SOCIALIST GOLD-OWNERS are rarer than Tory foxes. But should British gold investors, one month from now, vote against the man who ignored the Bank of England's best advice – and sold over half of the UK's gold reserves at the very lowest prices a decade ago? Full Story
China’s housing market is hot, but it’s not a bubble on the verge of bursting, as many contend. Before we can discuss why it’s not a bubble, a little background on the Chinese housing market is needed. Full Story
The explosive move in gold which I have been predicting for some months is now under way. He who hesitates is not lost, but he does make smaller profits. You have undoubtedly heard of the death of a thousand cuts. You now face the death (of your profit) by a thousand decisions to do nothing. But first, let us review the art of speculation. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 12 April, 2010
While GATA has been anticipating this story for some time and GATA board member Adrian Douglas was crucial in facilitating it, because of their sensitivity you never know whether such stories will actually be executed or whether they will be spiked at the last minute. Thanks and congratulations to the Post and its deputy business editor, Michael Gray, the story's author, for publishing it. Full Story
It’s been a good week for gold, actually a good two and a half weeks. Gold looks to be on another tear and is heading to test December’s high. I’d give it about two weeks to get into new highs otherwise the trend may stall. Full Story
Gold broke out of its 3-month triangular consolidation this past week, but as we mentioned in the blog, the breakout was strongly opposed by the “usual suspects” on the COMEX futures bourse. It is Game-On for gold! Full Story
“Sell in May, and go away?” Any trader who plans to employ that time-honored strategy should take good look at the chart below before dumping his or her portfolio on schedule in a few weeks. Notice that investors who exited the stock market right on time last year, at the end of April, would have missed a 12% rally that saw the Dow rise from 8168 to 9172 by Halloween, the traditional time to jump back in. Full Story
1st Hour: Headline news & the Market Weatherman Report. Spotlight Stock Picks. Host Chris Waltzek & The International Forecaster discussion and listener's questions. 2nd Hour: James Turk, GoldMoney.com Steve Hochberg, Elliott Wave International Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 April, 2010
Last week we wrote on China and described in general terms the potential growth in the longer term. Below we focus on the on-the-ground potential developments there, which, we believe, will make China the world’s largest market for gold. We have long maintained that China’s gold market needs to be developed across the country and not just in the main centers. Full Story
By: Bob Chapman, The International Forecaster - 11 April, 2010
We have seen the Fed and the US Treasury execute policy that has served to bail out the financial industry that created the conditions that have persisted for more than 2-1/2 years. During that period Wall Street, banking and insurance may have been saved, but nothing has been done to solve the problems of the economy. Full Story
By: John Mauldin, Millennium Wave Advisors - 11 April, 2010
Casey Stengel, manager of the hapless 1962 New York Mets, once famously asked, after an especially dismal outing, "Can't anybody here play this game?" This week I ask, after months of worse than no progress, "Can't anybody here even spell financial reform, let alone get it done?" We are in danger of experiencing another credit crisis, but one that could be even worse, as the tools to fight it may be lacking when we need them. Full Story
The gold price hit a four-month high last week at $1,164 and consequently a new high for 2010. But there is good reason to think the trend could now turn downwards, and bottom out in the summer. That would set the stage for an autumn rally to new highs, well beyond the $1,226 an ounce posted last December. Full Story
Right now, there’s no reason to expect this trend to reverse. Sure, stocks are overvalued. Commodities have had fantastic runs. And the highs are getting a little too high. But with rates still very, very low, there’s no telling how much higher stocks and commodities can go. However, as rates start to rise, the impacts will be witnessed far and wide. Full Story
By: Richard Daughty, The Mogambo Guru - 11 April, 2010
I am happy to note that the Tea Party, which appeals to me personally, is gaining traction and power, which adds more political overtones to my life and gets me, a shameful Republican, away from the loathsome Republicans (except Ron Paul), which have acted almost as despicably as the Democrats. Full Story
Markets just can’t be stopped, like a runaway train. The Dow is on the cusp of retaking the important psychological barrier at 11k while the S&P is teetering with the 1,200 level. Full Story
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