By: Bill Bonner & Dan Denning, The Daily Reckoning - 17 February, 2006
-Bernanke encourages our friends in the Far East to loosen up - or else... -A law that will make people richer? Not likely...what a politician would say if you gave him truth serum... -The Agora Financial Options and Traders Conference in Puerto Vallarta...and more! Full Story
By: Axel Merk, Merk Hard Currency Fund - 17 February, 2006
The new Federal Reserve (“Fed”) Chairman Ben Bernanke believes that the current yield curve inversion does not signal an economic slowdown. He argues that in past inversions, i.e. when short-term interest rates have exceeded long-term rates, short-term real interest rates were high. Differently put, he says the Fed is merely in neutral territory and has not yet applied the brakes to the economy. Long-term interest rates are low because of a global “savings glut”, because much of the rest of the world rather put their money into liquid US assets than to invest them into their economies with under-developed financial markets. Full Story
By: Dr. Ron Paul, U.S. Congressman - 17 February, 2006
The Bush administration released a proposed 2007 budget last week that increases federal spending to a staggering $2.77 trillion, a sum that is 4 times larger than the Reagan-era budgets of the early 1980s. With a public angry about useless earmarks and bridges to nowhere, and a Republican congressional delegation promising to restore some small measure of fiscal discipline, it's troubling that the administration chooses to ignore economic reality and increase spending without regard to revenues and deficits. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 17 February, 2006
As with Greenspan before him, Bernanke continued to downplay the significant challenges facing a badly unbalanced U.S. economy; our trade deficits, budget deficits, national debt, unfunded liabilities, inflation, lack of domestic savings, under-funded pensions, the real estate bubble, and America’s increased dependence on foreign central banks. Instead, he continued to fashion a silk purse out of what really amounts to a sow’s ear economy. Full Story
By: Bill Bonner, Eric Fry & Justice Litle, The Daily Reckoning - 16 February, 2006
-Every four-legged empire has its day...there is no doubt in our minds that the U.S. economy is a swindle... -A meeting with the Good Doctor...the oil problem is not getting better - it's only getting worse... -In the 21st Century, distance will have her revenge...the oil market is slippery with uncertainties...and more! Full Story
By: Rick Ackerman, Rick's Picks - 16 February, 2006
In his first report to Congress, the new Fed chairman reassured listeners that the American economy was rebounding robustly after a statistical lull in the third quarter. Some astute Fed-watchers took this as a subtle warning to statisticians to produce “friendly” CPI numbers next month, so that the developing, rosy picture is more credibly corroborated by the numbers, most particularly those alleging “productivity gains”. Other observers were quick to point out that America’s negative savings rate and stagnant real income made it most unlikely that any real economic gains had been achieved recently. Full Story
By: Bill Bonner, Chuck Butler & Hans Sennholz, The Daily Reckoning - 15 February, 2006
-Today's issue will make your head spin and your skin crawl...consumers throw caution in the wind and press the pedal to the metal... -Our friends in the U.K. should just ask Bernanke how to make their economy sizzle again... -Another columnist telling us to not worry - we're on top of the world...and more! Full Story
By: Bill Murphy, Le Metropole Cafe, Inc. - 15 February, 2006
I had no idea of the following story in the Globe and Mail when I sent out the prior MIDAS dispatch, mostly to follow up on Adrian's second day attention of Goldman Sach's COVERING their gold shorts on the TOCOM after stopping bullion in its tracks above $570. These highly regarded Planet Wall Street Mafiosos are nothing more than than that. They have been the ringleader in the manipulation of the Gold Market for AT LEAST 7 years. They have made a fortune while ripping off gold investors. So NOW, while they are aggressively covering their Gold Cartel short positions in Tokyo, they have the cajones to tell their clients to dump their longs. These type of people do not belong in America. I dare these bums to sue me so we can get into Discovery over all their gold trades, off shore clients included, over the past 7 years. Full Story
By: Richard Daughty, The MOGAMBO GURU - 15 February, 2006
I am, apparently, on the edge of a nervous breakdown, as nothing is making sense anymore. For instance, Total Fed Credit created by the Federal Reserve actually went down last week by $5.2 billion. This sudden lapse into monetary sanity could be a ruse, because they say that Ben Bernanke, the new chairman of the Federal Reserve, has yet to gain the "trust" of the bond market until he can "prove himself" as an inflation fighter, which means heeding the advice of the stupid Mogambo to stop this insane over-creation of money and credit by the Federal Reserve, which must lead to higher debt loads and higher prices, both of which lead to misery and suffering, and one day they lead to economic collapse, as it always has and it always will. Full Story
By: Rick Ackerman, Rick's Picks - 15 February, 2006
Yesterday’s forecast for Comex Gold caught the low of a $13 rally to the exact tick, 537.80. Because this occurred after midnight in New York, I was somewhat surprised to hear from a couple of subscribers who nailed the trade, using a suggested 0.90-cent stop-loss that proved more than adequate. Both bought the bottom and then proceeded to turn a routine bottom-fishing gambit into an act of cool daring: Full Story
By: Bill Bonner, Dan Denning, & James Kunstler, The Daily Reckoning - 14 February, 2006
-Love is in the air...we've been bamboozled...what's the point of making the world safe for democracy if you are just going to try and undo it? -Those lovable moneymen are always good for a chuckle... -Did you hear? The oil crisis is over! Now if we could only take care of world hunger that easily... Full Story
By: Rick Ackerman, Rick's Picks - 14 February, 2006
By holding interest rates close to zero, Japan has been been the global carry-trade’s best friend, fostering liquidity worldwide for purposes, mainly, of promiscuous financial speculation. However, the Bank of Japan recently announced that zero-interest rate conditions will end later this year, a prospect that is likely to add some deflationary ballast to a financial environment that has been gaseously buoyant since around the mid-1990s. Full Story
By: Bill Bonner, Chuck Butler & The Mogambo Guru, The Daily Reckoning - 13 February, 2006
-There's a mug you wouldn't want gracing your living room wall...assets - or just wretched liabilities... -Inspecting the trash lifted up by the tide of cash...draining this long Fin De Bubble to the last drop... -Let's hope the masses give up on gold...a note from India...and more! Full Story
We're sitting on high profits from our gold stock sales. This can be a trip to Dullsville watching our bulging cash account accrue a measly four percent while we await the next buy signal for the gold stocks. I don't know about you, but I like action, I like the trade, I like the volatility. I need something I can WATCH, and hone my technical analysis acumen. So, I look to the general equities market for action. Full Story
By: Rick Ackerman, Rick's Picks - 12 February, 2006
Worried that you’ll awaken one day to news that the dollars you’ve got in the bank have to be exchanged for “new” dollars? You’re not the only one. Subscriber Ben Woo allowed here yesterday that that was one of his worst fears, financially speaking. “It would be suicidal,” for the government, he wrote, and there would be “blood in the streets.” But would it really be that bad? To put Ben’s mind at ease, I solicited comments from readers, at least a few of whom were bound to be more sanguine. Full Story
AFRTs are brilliant 100% pure, authentically gold-colored zinc and copper clad tokens, engineered by the New American Empire and backed by the full faith and taxing power of inflation. Helicopter drops of the new FARTs are scheduled for your neighborhood soon. Full Story
By: John Mauldin, Millenium Wave Advisors - 12 February, 2006
This week we look at an interesting index of greed and fear, look at the yield curve and the new 30 year Treasury bond, the latest unemployment numbers and a lot more. What do they tell us? Is there a theme or at least a rhyme? Or is it all random noise sent by the market gods to lull us back into the mistakes of the past? Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 12 February, 2006
Yesterday, in what amounts to the biggest refinancing in world history, the Federal Government finally began issuing new thirty-year bonds. The return of the long bond comes none too soon, but it may be a day late and a couple of trillion dollars short. For the past four years, the treasury has been artificially suppressing its interest expenses by borrowing massively at the short end of the yield curve. Like millions of Americans who have made the same mistake (with adjustable rate mortgages), this act of fiscal expedience exacts steep long-term costs. Full Story
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