By: Chris Powell, Secretary/Treasurer, GATA - 18 November, 2011
Thanks to our friend A.F. in Australia, the Gerald Ford Presidential Library in Ann Arbor, Michigan, has confirmed the authenticity of the letter written to the president by Federal Reserve Board Chairman Arthur Burns on June 3, 1975, revealing the participation of the West German central bank, the Bundesbank, and the chancellor of West Germany at that time, Helmut Schmidt, in the international gold price suppression scheme. Full Story
By: The Gold Report and Ron Struthers - 18 November, 2011
Every investor knows that it's hard to time the market. But Ron Struthers, editor of Struthers' Resource Stock Report and a 25-year investment veteran, has been able to weave his way in and out of the market with aplomb this year. In this exclusive interview with The Gold Report, Struthers tells what he's seeing in his technical analysis that is signaling it's time to buy back in after selling off many gold equities in April. Full Story
The BEST WAY to hope you'll make money investing? Berkshire Hathaway legend Warren Buffett reckons it's "being right" – which is about as down-home as the "Sage of Omaha" could get. "Sitting tight" was the key for legendary "boy plunger" Jessie Livermore, whose personal depression drove him to suicide in 1940, apparently leaving $5 million behind him. Full Story
By: Adam Hamilton, Zeal Intelligence - 18 November, 2011
After updating my gold-seasonality research last week, I heard from traders wondering how it affects gold stocks. Since the price of gold is their primary driver, gold seasonality naturally has a major impact on gold-stock price levels. This is readily apparent in the seasonality of the HUI, the flagship gold-stock index. As you’d expect, this sector mirrors and amplifies the seasonal swings in the metal it mines. Full Story
I've told more than one concerned investor that when the gold price falls, they should "come back in three months" and see if they're still worried. The idea is that the daily and monthly gyrations are nothing to fret over, that the price will recover and, in time, fetch new highs. Full Story
In gold terms, an average single family home in the United States can now be purchased for only 18% of its pre-bubble price in 2001. The term "pre-bubble" merits emphasis: the average house can be purchased at an 82% discount (in ounces of gold) not from the peak real estate values of 2006, but the much lower home prices of 2001, before the real estate bubble began. Full Story
The economic physicians of the world economy are desperate. Despite all their extensive efforts, using every medicine at their disposal, the frail patient has suffered another setback in 2011. What concerns most is the realisation that the virus that infects the world economy has become resistant to all the conventional treatments. Any additional doses of the medicine seem to weaken the patient even further. The world economy has become so fragile that any major shock to its system may well cause irreparable harm. Full Story
In all the legitimate concerns over the Eurozone Debt and Solvency Crises, many commentators have failed to adequately focus on The “Elephant” – the Debt, Spending and Solvency Crises of the USA. Those Crises are our focus here, and we proffer Key Antidotes for Investors. Full Story
The global economy is slowing down, most of Europe is in recession and the US is also on the verge of a contraction. Nonetheless, the ‘risk on’ trade has raged over the past month and somehow, the market seems to be oblivious to the real economy. Full Story
By: Rick Ackerman and Erich Simon - 18 November, 2011
How much longer can Europe and the U.S. postpone the global financial system’s collapse? We doubt that the deceptions and illusions that have sustained it so far will see us to the New Year. In the essay below, Rick’s Picks contributor Erich Simon sees an epiphany coming that could reshape the face of modernity. Full Story
Well, I’m so glad you’re back with us at GoldSeek.com Radio for another Gold Nugget segment. Today’s special guest, Gerald Celente, from The Trends Research Institute. Well, in recent weeks, the MF Global scandal caught many investors off guard and reports indicate that over 100,000 investors will lose most, if not all, of their account value with virtually no warning. My next special guest says his funds evaporated with the rest. Gerald Celente is Director of The Trent Research Institute. Welcome back, sir. Full Story
SO THIS isn't your father's bull market in gold, and it certainly isn't your grandfather's. Where gold amid the Great Depression was all about three T's – teeth, trinkets and terror – it had morphed by the end of the 1970s into a finger-lickin' combination of Krugerrands, futures, and those "certificates of confiscation" that were government bonds paying way less than inflation. Full Story
What an incredible whirlwind of crisis from seven foul winds around the globe. Most emanate from Europe, which is far from its climax in crisis. Three steps will lead to full blown eruption, the first Italy with rising bond yields and a bank run, the second Spain with rising bond yields and admission that banks are far more insolvent than recognized, and third the failure of all three largest French banks as the principal swine creditor. In fact, a great split has occurred, as France has been cut off from the future world by Germany, which looks East to Russia and China. The Berlin leaders will not be needing French squires to carry their bags, but instead will watch as Paris becomes the appointed leader of the PIIGS. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 17 November, 2011
The price of commercially mined uranium will no longer be depressed by a steady stream of HEU down-blends into the marketplace - the legacy feedstock kitty is going to come to an end. There is already an imbalance between mined supply and demand - the demand for uranium is higher than the supply. This difference is currently being met from the decommissioning of nuclear warheads but the Megatons to Megawatts Program is ending in 2013. Full Story
By: Jeff Berwick, The Dollar Vigilante - 17 November, 2011
We were beginning to question our premises... something that almost always signifies a bottom. But, after riding through a tough year for the gold stocks, despite gold holding steadily between $1,500 to $2,000, it only came naturally that we should re-assess everything. Full Story
By: The Gold Report and Brent Cook - 17 November, 2011
In the high-risk junior resource sector, 95% of the companies investors might choose will fail to hit paydirt. For your best chance to pick winners from among the remaining 5%, Exploration Insights Editor Brent Cook has some advice—including ideas about where to find good advice. In this exclusive interview with The Gold Report, conducted during the 2011 New Orleans Investment Conference, Cook makes the case that selecting juniors whose properties are most likely to pass the drill test also gives investors an ideal, built-in exit strategy. Full Story
By: The Gold Report and Thom Calandra - 17 November, 2011
Thom Calandra, a long-time journalist and mining investor, knows what risks to stomach in search of jaw-dropping returns. Geopolitical risk, for one. Karen Roche of The Gold Report caught up with him at The New Orleans Investment Conference to see what this 30-year veteran of analyzing financial markets took away from the event. In this exclusive interview, Calandra revealed why he'll never invest without setting foot on a project first. Full Story
By: The Gold Report and Adrian Day - 17 November, 2011
After a big spike up and an overdue correction in the gold price, Adrian Day, chairman and CEO of Adrian Day Asset Management, says that the king of metals is settling back into the steady rise in price that we've grown accustomed to over the past several years. He expects that to continue because the demand drivers have not gone away. But gold equities? As Day tells The Gold Report in this exclusive interview—conducted during the New Orleans Investment Conference—their lackluster performance in light of the gold price's ever-upward march is "just astonishing." To top it off, tax-loss selling at year-end may mean these equities have yet to hit their bottoms. Full Story
By: Rick Ackerman, Rick's Picks - 17 November, 2011
Although U.S. stocks eventually did the right thing, plummeting to end the day, they were down only slightly for most of the session – a surreal performance, considering the hellish new tack of Europe’s financial crisis. If investors were already jittery about bailout-mania on the Continent, Wall Street bankers should be in-continent with fear over the rise in interest rates that has started to spread outside the high-contagion PIIGs zone. Full Story
China and Hong Kong are demonstrably no longer willing to add U.S. debt – in fact, taken together – they have decreased their aggregate U.S. holdings by 40 billion over the past 9 months. It is more than apparent they are “full on the name” U.S.A. Full Story
YOU REMEMBER the Lisbon Treaty, right? Rejected by voters in three of the five European Union states to be asked, it was signed regardless by the heads of all 27 member states in 2009, thus "complet[ing] the process [of] enhancing the efficiency and democratic legitimacy of the Union." Full Story
You will often read how various experts in the financial press will say that the gold price "should be" about $2000/oz., to $3000/oz., or slightly higher. But what they almost never say is how they arrived at their figures, and what assumptions they are making. Full Story
THIS IS just an idea – but perhaps Germany is only pretending to want more European integration. The rhetoric is real enough. German chancellor Angela Merkel told her party conference this week that the solution to the Eurozone crisis is "more Europe". At the same conference, finance minister Wolfgang Schaeuble said Europe needs "to build the political union that we didn't manage to achieve in the 1990s." Full Story
By: Marin Katusa, Casey Energy Opportunities - 16 November, 2011
Let's begin by positioning the sector. Investing in a pipeline company is similar to investing in a utility: Like electricity providers, pipeline companies operate in heavily regulated environments, and once they are up and running, pipeline operators enjoy stable cash flows from long-term contracts. Full Story
By: Sol Palha, Tactical Investor - 16 November, 2011
If one looks at a 10-20 year chart of the Yen one cannot help but come to the conclusion that the Yen is going to experience a huge correction at some point in time. The pressing question then, is exactly when will this occur? Nobody can give an exact date, but examination of 1 and 2 year charts reveals that we are getting closer and closer to this point. Full Story
By: Bob Chapman, The International Forecaster - 16 November, 2011
It wasn’t all that long ago that industry estimates were that the issuance of credit default swaps in Europe, CDS, were about $18 billion. At the same time on the street it was estimated that the exposure was $75 billion. We estimate $150 billion - this represented insurance on the holders of bonds issued by Greece, Portugal, Ireland, Spain and Italy. The Bank for International Settlements says that figure is now $518 billion. As we have noted before the big problem is counterparty risk. When CDS, credit default swaps, are triggered to default will the counterparties pay up? Even if writers are buying from one another someone has to get caught holding the bag and loose money. That is where the risk comes in. Full Story
One of our favorite authors, Nassim Nicholas Taleb, a professor of risk engineering at New York University Polytechnic Institute and author of “The Black Swan: The Impact of the Highly Improbable,” wrote about this topic last week in The New York Times. Full Story
If you are still a taxpayer, you are Atlas. I am Atlas. There will come a time when Atlas will shrug. I have written about this before: When will he shrug? Before I can answer this, I want to discuss another factor, compound economic growth. Full Story
The late market analyst PQ Wall put forward a rather bold proposal concerning the regular business cycle, which is also known as the Kitchin cycle. Wall concluded that every business cycle subdivides into three sets of three smaller cycles, for nine total cycles. Based on PQ’s contribution to market cycle research, this cycle is known as the Wall cycle. The Wall cycle ideally runs about 142 days in length, just over 20-weeks, but they often run shorter and longer than this ideal length in Fibonacci ratios of their ideal length. Full Story
In his 1982 article, “Monetary Policy: Theory and Practice,” Nobel laureate Milton Friedman said that "if a domestic money consists of a commodity, a pure gold standard or cowrie bead standard, the principles of monetary policy are very simple. There aren’t any. The commodity money takes care of itself." Full Story
By: The Energy Report and Geordie Mark - 16 November, 2011
From fossil fuels to fission, growing global demand for power generation offers investment opportunities. Thermal coal is heating up and the uranium junior mining sector is set for development and a wave of consolidation. Geordie Mark, mining analyst with Haywood Securities in Vancouver, shares his thoughts in this exclusive Energy Report interview. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 15 November, 2011
As each week passes, the debt crises in the Eurozone become more and more like a dry forest where small fires that have broken out appear to be contained before the next larger fire is kindled. “Solutions” are put forward, only to prove inadequate. New prime ministers of Greece and Italy are hailed as capable of imposing needed disciplines to stave of a full blown forest fire. But even these (future scapegoats?) men realize they can contribute only a small amount to the problems. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 15 November, 2011
For years many Internet sites have attributed to the economist Alan Blinder, now a professsor at Princeton University in New Jersey, a provocative comment reportedly made on a Public Broadcasting System program in 1994 during his service as a member of the Board of Governors of the Federal Reserve System: "The last duty of a central banker is to tell the public the truth." An Australian friend of GATA, A.F., recently went looking for authority for the quotation and your secretary/treasurer suggested that he start with Blinder directly. Full Story
Without trust, the financial system cannot work. The regulators and Federal Reserve have done nothing to assuage these concerns. Instead they’ve shifted all trust onto their own shoulders: the defining bull argument for the market and economy is that “the Fed will save us”, or “don’t fight the Fed.” Full Story
Gold at $1800 was a touch “up there”, but in the bigger picture, the weekly chart is ultra-bullish. Click this gold liquidity flows table now. The commercials (banks) have added both longs and shorts, as of the Tuesday, November 8th cut-off date for the latest COT report. Full Story
By: Steve Saville, The Speculative Investor - 15 November, 2011
This is a point we touched on in a couple of earlier commentaries, but it is important enough to reiterate. The point is that the sovereign debt crisis began in Europe because the countries of the euro-zone (EZ) do not have captive central banks. A captive central bank is one that stands ready, willing and able to monetise all government debt should it become difficult or impossible to find other buyers for the debt. Full Story
By: Rick Ackerman, Rick's Picks - 15 November, 2011
Two wholly unexpected economic developments suggest that the Great Recession may have a silver lining. How does an America with more farmland and fewer lawyers sound? Apparently, hard times are helping to bring about both. Regarding the farmland, thousands of acres that had been purchased by speculators for residential development have fallen so steeply in price that farmers are snapping up the parcels for agricultural use. Full Story
By: The Gold Report and John Kaiser - 15 November, 2011
A $3,000/ounce gold spike could boost equity valuation. In this exclusive interview with The Gold Report, John Kaiser, editor of Kaiser Research Online, shares the catalysts that could propel gold and silver stock prices higher in 2012. Full Story
Most gold followers know the metal has a seasonal tendency to perform better in the fall and winter than in the spring and summer. Indeed, since 2001, the annual high for the gold price has occurred after Labor Day every year except two (2006 and 2008). Further, that peak was hit in November or December in seven of the last ten years. Full Story
With a title like, the Rape and Pillage of Humanity, many of you are probably expecting this paper to be a story about greed, power, misplaced trust and abuse in College Football. So if you thought that – you’d be wrong. Instead, this is tale about greed, power, misplaced trust and abuse in our global monetary system – and what Central Bankers have done to it. In short, they’ve taken us to the showers and had their way with us all. Full Story
By: Dr. Ron Paul, U.S. Congressman - 14 November, 2011
The global economic situation is becoming more dire every day. Approximately half of all US banks have significant exposure to the debt crisis in Europe. Much more dangerous for the US taxpayer is the dollar's status as reserve currency for the world, and the US Federal Reserve's status as the lender of last resort. Full Story
This time, GDX is close to a very significant breakout as it could pull away from a one-year base as well as the 2008 highs and on some charts, the 1980 highs. Although the non-producers have lagged, they would ultimately find a huge bid in the immediate aftermath of a breakout in GDX. Traders and investors need to know when to play it safe and when to take risks. Heading into this potential breakout, it is wise to stick with producers who are finding a bid. However, when the breakout appears imminent, it would be wise to set your sights a bit lower on the food chain and find the developers and explorers ready for a major rise. Full Story
We all better hope I'm wrong on this one, but I think the CRB just put in its three year cycle low in October. I'm also afraid that Bernanke has done irreparable damage to the dollar. If I'm right about both of those assumptions then we are on the brink of a historic inflationary period. Full Story
This is the last of three special Silver Valley Mining Update issues. Taken together, they give you the big picture changes in the Valley mining industry over the past couple of years. Full Story
There is no doubt that the European sovereign debt crisis is a major factor driving the global markets lately. The imminent Greek default and the loss of confidence that Italy can avoid contagion and its own severe debt crisis has toppled both governments and set the stronger Eurozone nations on a path to socialized bailouts and eventual monetization (printing trillions more Euros). These actions may forestall immediate catastrophe but also create other serious economic problems, such as inflation, recession or both (stagflation) across the Continent. Full Story
Headline news & the Market Weatherman Report. Spotlight Stock Picks. Host Chris Waltzek & Bob Chapman, The International Forecaster discussion and answer listener's questions. GUEST BIOS: Dr. Stephen Leeb, Leeb Capital Management Peter Schiff, Euro Pacific Full Story
By: John Mauldin, Millennium Wave Advisors - 14 November, 2011
Europe remains the focus of markets, and rightly so. But the picture is not as clear as one would like. Different analysts point to different problems – if only this one problem could be solved, then all this would go away, they tend to say. Sadly, it is not one problem but three that must be solved, and none of them is easy. In today’s letter I try and offer a basic primer on the problems facing Europe. Full Story
By: Bob Chapman, The International Forecaster - 14 November, 2011
As Chancellor Merkel and PM Sarkozy search for a solution that doesn’t exist they continue to lose credibility. Nothing of substance has been agreed upon that is legal and can be implemented. At the IMF Christina LeGarde is frantically waving her arms like a cheerleader telling anyone that will listen that if the six sovereigns in financial trouble are not aided the euro will fail and peace in Europe will disappear. The elitists are frantic because they cannot find a solution. LeGarde says without help there will be ten years of depression. She obviously hasn’t done her homework. Try 30 or more years. Full Story
Politicians talk, philosophers are silent. As for gold, Mr. Schmidt seems to be among the philosophers. On the other hand you can take this little story as evidence that we "conspiracy theorists" at least try to be more thorough than some people may want us to be. Full Story
I recently read an article by Mr Erik Swarts, which I found very interesting. I enjoy reading his articles, since he often identifies fractals on financial charts, in order to forecast, what may or may not happen. This is exactly what I specialize in. Full Story
Physical gold will outsell ETFs by 500 per cent this year, Standard Bank’s Walter de Wet told the 8th Dubai City of Gold Conference today. Two years ago the position was completely reversed with physical gold sales running at only 20 per cent of ETFs. Full Story
By: Rick Ackerman, Rick's Picks - 14 November, 2011
Stocks came roaring back to end the week on an ebullient note, supposedly encouraged by the latest evidence that Europe is finally putting its financial house in order. While the New York Times resisted the temptation to spread this drivel across the top of its weekend editions, the Wall Street Journal eagerly took the bait, offering up the following headline: “Europe Pulls Back From Brink”. Time for a victory lap for Europe? Not so fast. Full Story
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