Regardless of whether the economic-Armageddon scenario comes to fruition, there are several reasons gold will maintain its long-term bull market, which began at the turn of this century. If you believe the government will continue debasing the U.S. dollar, the gold price will benefit from this debasement policy. If, on the other hand, you believe the economic, Kondratiev winter of the 60-year cycle will accelerate in the next few years, history has proven conclusively that gold should once again be the safe haven du jour for investors seeking asset protection. Armageddon or not, gold's long-term prospects are still promising. Full Story
The stock markets’ sharp June selloff is waking traders from their complacent slumber. The risk of a significant selloff, long ignored, has surged back to the forefront of market psychology. These pullbacks and corrections are healthy and necessary within ongoing bull markets, but they don’t end until fear grows great enough to rebalance sentiment. And today, stock fear is still too low for a bottoming. Full Story
By: Charles Vollum, Casey Research - 17 June, 2011
Fiat currencies the world over are being manipulated by central banks, which is distorting asset and commodity prices. Successful investing requires that investors have a good idea of what things cost and what they are really worth – and using the world's oldest and most stable form of money, gold, to compare prices is one way to get that insight. Full Story
By: John Browne, Senior Market Strategist at Euro Pacific Capital - 17 June, 2011
Most people, provided they have a minimum of experience, know that taking a bone from a dog is a risky proposition. In terms of political power, few dogs are bigger than the American voting public. Taking away, or even threatening to take away, the major entitlements to which they have become accustomed could expose politicians to a mauling at election time. As the American leadership begins to grapple with very large issues of entitlement reform in "sacred" programs such as Medicare and Social Security, many may recoil from the task once the fangs begin flashing. Full Story
Gold and Silver equities have led the markets lower and have underperformed the metals significantly this year. For the past month or so Gold has firmed and Bonds have moved higher as most asset classes have declined. Unfortunately mining equities have been among the worst performers. However, our work leads us to believe that an important bottom should be in place very soon. Full Story
The Goldsmiths CLXXXIX addressed the clever and crooked operations of the House of Rothschild which was beginning to be understood in the 1930s--because of the depression caused by the Rothschilds and their cousin bankers (like the Oppenheimers, Lazards, Warburgs, Roggenfelders, etc). Full Story
Our goal in this report is to suggest various ways you can invest in silver, while underscoring the importance of patience and discipline. Investors must remain patient to avoid chasing silver, overpaying, and draining their cash. Instead, we recommend that you use temporary price declines to steadily accumulate the best silver stocks and your preferred form of bullion. Full Story
In what will likely be the first of many European debt downgrades for the United States, Germany’s own Feri credit rating agency took down the United States’ debt rating from AAA to AA. The difference is marginal in many ways (after all, few countries ever get to become AAA rated), but for the United States, which has always been AAA, this confirms that the downside is here. Full Story
Don't let the perma bulls fool you, this is not a normal correction, and it has nothing to do with Greece or Spain. This is the beginnings of the next leg down in the secular bear market and the start of the next economic recession/depression. And this time it's going to be much much worse than it was in `08. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 16 June, 2011
If you listened closely to U.S. Rep. Ron Paul's questioning of Federal Reserve General Counsel Scott G. Alvarez at a hearing of the House Subcommittee on Domestic Monetary Policy and Technology last week, you heard Paul mention the U.S. Treasury Department's Exchange Stabilization Fund as a likely instigator of secret swaps involving the U.S. gold reserve: Full Story
By: The Gold Report, Brent Cook and Rick Rule - 16 June, 2011
Dreams of success seldom come true in the risky junior exploration sector but, assuming great success, investors have driven gold stock prices up into multiples of their true value. Judging from what they tell The Gold Report in this exclusive interview, that's how Global Resource Investors Founder Rick Rule and Exploration Insights Author Brent Cook see it. With so many stocks overvalued, they foresee a waterfall-style correction that will create what Rick might call a pawnbroker's paradise—a perfect scenario for investors who know when to take profits and when to buy back in. Full Story
Longtime readers of Rick’s Picks will know they’re in for a bracing dose of reality when our good friend Doug B. – known hereabouts as The World’s Savviest Financial Advisor – mounts the soap box. In the essay below, Doug asserts not only that full-blown recession is back with a vengeance, but that this time the easy remedies will not even seem to work. He notes that Baby Boomers in particular will have to tighten household budgets drastically, and plan on working well past past the age of 65, if they are to have any hope of retiring with dignity. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 June, 2011
In this piece we are looking at some critical fundamental features of precious metals that are rarely considered or accepted in the developed world markets. Expert investors like Warren Buffet look at inactive, buried gold with amazement, because he is focused on companies that produce things and earn money. And most of us wish we had his skill and money behind us. Full Story
By: Marin Katusa, Casey Energy Opportunities - 15 June, 2011
We have said it before and will say it again – the long-term fundamentals for uranium are very strong. Demand growth with outstrip increases in supply in the medium term, as the developing world works frantically to provide its billions of citizens with electricity. The Fukushima disaster, and Germany’s reaction to it, will do little to derail this trajectory. Full Story
By: Michael Pento, Senior Economist at Euro Pacific Capital - 15 June, 2011
For the better part of a century the foundations for a semi-comfortable retirement for many Americans have rested on the financial pillars of rising real estate and equity prices, positive real interest rates on savings, the continued solvency of public and private pension plans, and the reliability of national entitlement programs (Social Security, Medicaid). But in the last few years, the economic sands have fundamentally shifted and these pillars are no longer sturdy, some have cracked completely. For many Americans, the traditional idea of a comfortable retirement, filled with golf carts, cruises, and fishing trips, is going the way of the dodo bird. Full Story
By: Bob Chapman, The International Forecaster - 15 June, 2011
Unemployment at 22.4% is causing a run on assets of retirement funds. That is probably why legislation is being introduced to limit how much money can be removed from these investment vehicles. About 11% of participants have taken out loans over the past year, up from 9% y-o-y. In overall total 22% have loans out and the numbers are accelerating. Almost all the loans will never be paid back. Hardship is forcing people to withdraw, as well as those who believe that government will try to commander 401K’s and IRA’s to fund a bankrupt government, that wants to replace those vehicles with bogus government guaranteed annuities. Full Story
Silver prices are set in the Comex futures pit in Chicago, and traders are becoming excited again by prospects for the shiniest of metals because of the supply and demand position within the exchange. What has happened recently is a drop in the amount of physical silver available for delivery in the Comex – down 38 per cent to 29 million ounces since the start of 2011 – while the amount of silver that is being held for clients to claim in the Comex is up by 23 per cent to 72 million ounces. Full Story
I welcome the Internet debate on the question whether the Mint should be opened to gold and silver. The latest contribution by Hugo Salinas Price, entitled Free Coinage of Gold and Silver – Then and Now (www.gold-eagle.com, 9 June 2011), expresses doubts that such a measure, at least insofar as silver is concerned, would work today. Full Story
Over the years I've accumulated a long list of quotes about money and banking extracted from online articles and books I've read. Unlike most other sites that post pithy remarks from famous authors, I include hyperlinks to their sources, so that anyone who wishes can not only verify a quote but, perhaps more importantly, read the context in which it was used. Full Story
Despite the pervasive bearishness in broad markets as well as the gold sector, gold remains too far above its weekly EMA 30. It is due for a correction, all the way down to the low to mid 1400’s (written sarcastically). This would be in keeping with the lovely and orderly MACD consolidation highlighted in yellow. Full Story
Stocks got a lift yesterday from retail numbers that supposedly weren’t as bad as economists had expected. Sales dropped “only” 0.2% last month versus economists’ dartboard expectation of a 0.6% decline. Because it was a merely bunch of economists who were doing the expecting, perhaps we shouldn’t be surprised that the numbers were so far off. Full Story
Summing up, in our view, the technical analysis suggests a downturn in the precious metal sector. The situation for gold and silver mining stocks appears bearish overall as well as individually even without negative influences from the underlying metals. It seems that if the head-and-shoulders pattern is completed in the HUI Index (gold stocks) chart, the whole precious metals sector could decline significantly in the near-term. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 14 June, 2011
Economic data over the past weeks, punctuated by last week's dismal employment reports, confirm the diminishing impact of the stimulus efforts orchestrated by the Obama Administration and the Federal Reserve. In what must be a huge disappointment to Keynesian enthusiasts, the record doses of both monetary and fiscal narcotics did not produce the desired results. In fact, the size and scope of the "recovery" of the past two years was weaker than would have been expected in a typical business cycle recovery without any stimulus whatsoever. Indeed our current recovery is the weakest on record, despite the biggest jolt of government stimulus ever administered. Full Story
Is gold at some kind of top against the dollar, or is it consolidating for a big move higher? Is the horrific action of gold stocks a leading indicator of what is to come for gold, or is gold indicating that stocks are headed higher? These are questions that may or may not be answerable with logic. Full Story
By: Steve Saville, The Speculative Investor - 14 June, 2011
Our 6th June commentary included a short piece titled "What backs today's money?", in which we attempted to explain that money is not "backed" by anything and nor does it need to be. Money is what it is -- the most commonly used medium of exchange within an economy. This piece was subsequently posted as a standalone article at a few web sites and generated an unusually large amount of feedback (questions, comments and objections). Today we'll address the three most common objections. Full Story
By: Michael Pento, Senior Economist at Euro Pacific Capital - 14 June, 2011
As the U.S. economy seemingly limps out of the Great Recession most analysts now assume that the Federal Reserve will soon join the tide of other central banks and bring an end to the current era of unprecedented monetary expansion. Markets expect that Fed will begin withdrawing liquidity this summer, not too long after this latest round of the quantitative easing comes to an end. But this is simply a delusion. Full Story
Is the worst of the economic crisis behind us? We’d have thought answering that question with a resounding “No!” was a no-brainer, especially considering that the Federal Government’s multitrillion dollar attempt at stimulus has barely slowed the collapse of the real estate market, let alone lifted home prices as intended. And yet, when we asked the question at a recent panel discussion on “The Financial System of the Next Decades,” all but a handful of those in the audience raised their hands in assent, apparently in the belief that the U.S. is emerging from, or has emerged from, the Great Recession. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 13 June, 2011
Each morning you turn to your favorite gold investment website to see the current gold price. What you see is the correct price, but in the currency of your choosing. There are two prices, the buy and sell price. You assume these prices allow the dealer to make an income from the difference. You assume that these prices are an accurate reflection of supply and demand. Full Story
By: The Gold Report and Luke Burgess - 13 June, 2011
Wealth Daily Editor Luke Burgess loves the word "gangbuster." It makes him laugh, and it signals great opportunities for investors to make money. In his first exclusive interview with The Gold Report, he shares this take on Yukon gold plays and diversification among small-cap equities, be they gold, silver or rare earth plays. Full Story
“One can never have too much money,” goes the Hollywood saying. But that old saw does not apply to Washington. One of the primary stimulus measures implemented by the Federal Reserve over the last three years has been the injection of cash into the economy by giving money to the banks. The scale of the cash injection is unprecedented- the Fed has pumped nearly $1.6 Trillion into the banks. But the US economy was in a deep recession, with the potential, it was thought, to slip into the Second Great Depression. Full Story
Forgotten in the avalanche of economic headlines in recent weeks is the fact that the housing market hit a new low. In the latest reporting month the national housing index hit a new low, falling below the previous low from April 2009. This should be prompting a nationwide debate in the press as to whether a new down leg in the housing market lies ahead. Instead, all we hear is crickets. Full Story
By: Dr. Ron Paul, U.S. Congressman - 13 June, 2011
Recent economic data show that U.S. job growth in May was negligible, while the official unemployment figure-- at least the figure the Labor Department admits to-- rose to 9.1%. The real unemployment figure, however, as compiled by economist John Williams, may well be higher than 20%. Full Story
The mainstream financial media are running stories on the next financial crisis. This is unheard of two years into a so-called economic recovery. So weak is this recovery that the old pre-2008 confidence has not returned. The first sign that "this time, it's different," was Treasury Secretary Geithner's statement, which received widespread coverage, that there will be another crisis. Full Story
By: Bob Chapman, The International Forecaster - 13 June, 2011
The lifeblood is being sucked out of America by free trade, globalization, offshoring and outsourcing. Over the past 11 years manufacturing jobs have fallen by 11.7 million and 440,000 businesses have been lost. Those figures should make Americans very disturbed, when it is obvious that American business, and the House and Senate are aiding and abetting in this job destruction, which has not only ended the American dream, but the destruction of the American economy. Full Story
By: John Mauldin, Millennium Wave Advisors - 13 June, 2011
This week we look at data from the Bank of International Settlements, by which (if someone does a lot of work) you can figure out how much US banks have written in credit default swaps to banks in Europe on Greek, Irish, and Portuguese debt. The details should not make you happy. I meditate on whether one should buy a house now, and then discuss “the way out” of all this mess and why we will Muddle Through. Oh, and I’ll ask you for help on yet another book project, on creating jobs. And all while trying to finish early enough to go to dinner. So let’s get started. Full Story
By: Jeff Berwick, The Dollar Vigilante - 13 June, 2011
We have been writing here at The Dollar Vigilante for nearly one year exactly, this coming July 1st, about such things as getting your gold outside of the control of your own government and about how US student loans are an entrapment for, what we believe, will be military conscription. Full Story
Although it looks as if gold has been moving sideways for the past two weeks a closer look suggests a topping activity. This coming week should tell us if that is so or not. However, any short term reaction should not be a concern as the longer term picture still looks okay for new highs in the not too distant future. Full Story
It was another week best spent not looking at the markets unless you’re looking to pick up some great miners on the cheap as we are, or go short some stocks as we are also. All in all it’s going great! Full Story
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