Ladies and gentleman, thanks for tuning in. We're at the Casey Research Recovery Reality Check Summit. We're talking with John Hathaway, one of the more successful fund investors – institutional investors – in our precious metals field near and dear to my heart. John, can you give us a quick version of what you talked about here, for those who didn't make it to the conference? Full Story
Northern Gold Mining is dedicated to gold exploration and discovery in the proven mining districts of Northern Ontario and to becoming an efficient, low-cost regional gold producer. Full Story
Gold stocks have been pummeled mercilessly this month, their price action looking almost apocalyptic. The psychological stress spawned by such extreme weakness is intense, breaking the wills of this sector’s few remaining bulls. This week their selling cascaded into a full-blown capitulation, a mass surrender by weary investors. While exceedingly miserable, these events flag major long-term bottoms. Full Story
Junior resource companies - the same ones who today are so oversold and undervalued - are the present owners of the world’s future commodities supply and, most important for investors seeking outsized returns, they act like leveraged exposure (with price gains many times that of the underlying commodity) to the specific commodity(s) investors want exposure to. Full Story
All eyes are on Greece which is heading toward national elections six weeks after the last vote. Many feel that a Greek euro exit would be a chance to cauterize a festering wound and move on. There are also those that feel that Greece could be the first of several dominoes to fall, much larger economies such as Spain, Italy, for example. Full Story
Since the uptrend got under way in 2001 there have been three phases. The first phase lasted until 2005 and is depicted by the gentle rising trendline that is at bottom. The second phase then formed and lasted until the financial crash of 2008. The trendline here is steeper than the one created by joining the bottoms up until 2005. The third phase is steeper still and is currently being tested in both currencies. Gold in US$ is also currently testing the 18-month moving average, which is an important level of MA support for long-term charts. Gold in Euros remains just above its 18-month MA. Full Story
Old news it is to most readers, that a Cartel (Note 1) of Mega-Bankers and Allies has for years, and is, engaged in Ongoing Price Suppression of Gold and Silver and their Miners’ shares. Increasingly wide acknowledgement of Gold and Silver as the Ultimate Stores and Measures of Value (i.e. Real Money) would further devalue their Paper Treasury Securities and Fiat Currencies, and diminish their immense power. Thus their ongoing Price Suppression intensifies. Full Story
Last April gold investment analysts where excited to see a new institutional player enter the gold market. The University of Texas Investment Management Co. took delivery of nearly $1bn of gold bullion into a New York vault. The reason gold analysts were so interested was because large institutional players had been largely absent from their market and their huge purchasing power had therefore not had its potentially significant positive effect on the gold price. Full Story
Demand for gold was relatively resilient in the first quarter of 2012, with global demand falling 5 percent on a year-over-year basis, says the World Gold Council. Marcus Grubb, managing director of investment, calls this slight quarter decline in demand “noise in the context of 22 percent rise” in the price of gold compared to first quarter of 2011. Also, gold demand was very strong in the first three months of last year. Full Story
On the chart, I have indicated two similar patterns (marked 1 to 5).This comparison suggests that silver could rise significantly over the next couple of months. This would mean that a dramatic turnaround in the price of silver is coming (it might have started already). Full Story
Once every year gold and stocks form a major yearly cycle low. Commodities form a major cycle bottom every 2 1/2 to 3 years. Every once in a while all three of these major cycles hit at the same time. I'm pretty sure that's what is happening right now. Full Story
In the Rick’s Picks forum, where he is a regular contributor, Mark Uzick is a stickler for getting definitions right, especially when it is libertarian ideas that are under discussion. He describes himself as someone who hates to write but loves to argue. In the guest essay below, he overcomes his distaste for the former to mount a spirited defense of economic freedom, which unfortunately has never been more desperately in need of friends. Full Story
For many years now, a meme has been floating around that the prices of gold and silver are being manipulated, which is to say suppressed, by various powers of darkness. This is not an unreasonable assertion. After all, the last thing the monetary powers-that-be want is to see is the price of gold skyrocketing. That would serve as an alarm bell, possibly panicking people all over the world, telling them to get out of the dollar. It's assumed, by those who believe in the theory, that the US Treasury is behind the suppression scheme, in complicity with a half-dozen or so large bullion banks that regularly trade in the metals. Full Story
Well, my hat is off to the global central planners for averting the next stage of the unfolding financial crisis for as long as they have. I guess there’s some solace in having had a nice break between the events of 2008/09 and today, which afforded us all the opportunity to attend to our various preparations and enjoy our lives. Full Story
Forget the anemic latest US jobs report - the world is in play, and the election of Francois Hollande as the President of France may do more to determine US unemployment rates (and global investment results) in the next year than anything that Ben Bernanke and US government policies will accomplish. Full Story
Even after the blow off in silver and gold's euro hysteria-induced blow off I did not expect a repeat of the 2008 crash in the HUI Gold Bugs index to happen given the state of the real price of gold (RPG) today as compared to the run up to 2008. Wrong sir, the black boxes are apparently in control; or are they? Maybe someone is controlling the black boxes. Full Story
The second target for the bearish "Head and Shoulders" pattern on silver was reached for greater than $25,000 per contract. The target was using "Measured Rule", which takes the distance from the top of the head to the neckline, and adding it onto the breakdown point. Full Story
If the people and politicians of the U.S. can't muster the will to reform Social Security and Medicare, the country will slide on down toward what internationally renowned economist Lacy Hunt calls the "bang point." What we'd face on the other side would be bad news indeed. But in this exclusive interview with The Gold Report, Hunt goes on to list a few steps to turn the tide on economic growth. The route won't be an easy one but it would address the debt and begin to improve living standards. Full Story
With uncertainty in Europe spooking investors away from any asset perceived as risky, many Americans have become wary of overseas equities. While the fear is understandable, it may be keeping us away from some of the world's most promising economies. I believe economic fundamentals are still the ultimate driver of investment performance, but it's easy to come to the opposite conclusion given the extreme global asset correlation we are now seeing. And economic fundamentals vary greatly in different corners of the world. Full Story
Right now we are all in the unfortunate position of being hostage to the dubious forecasting abilities of the Fed and other Central Bankers, as if they are not proactive in putting in place another round of easing, just about every financial market will plunge. Full Story
SO THE PRICE of gold keeps falling, and it keeps falling despite the imminent failure of Greece's Euro membership, the looming collapse of Europe's banking system, and the fast-looming debt-ceiling repeat and fiscal cliff in the US. Full Story
The news out of the Eurozone could not be worse. In the U.S. while the recovery is gaining momentum, the low interest rates have created an environment that may bring its own woes; the USD, however, is very strong. What’s next and where will it take gold and silver? Full Story
On Monday, May 14, something happened that hasn’t happened since Dec of 2008. Two successive near-month precious metals futures contracts were in backwardation at the same time. To oversimplify, backwardation is when the price of a futures contract is lower than the price in the spot market. Full Story
Gold is ‘The ultimate backing for paper money’. Paper money is just that; paper. It is worth little compared to the money which once put the ‘Great’ in Great Britain. It is no longer backed by anything real, all that backs it is the confidence we have in the Bank of England. The same central bank that failed to predict the tech bubble, the housing bubble, and the Credit Crunch. Full Story
One month ago it appeared that Germany held the whip hand in its titanic struggle against those seeking to cure all economic ills with the snake oil of currency debasement. Now, it appears that the ground beneath its feet is being swept away in a flood of popular unrest and political exploitation. The recent elections in Europe, which highlight both the strong grass roots revolt against Germanic demands in Greece and France show that the cause of sound money and fiscal prudence to be a lonely and difficult endeavor. Full Story
Since the speculative highs of 2011, the precious metals are continuing to correct and head lower, even in the face of Operation Twist and the ECB's Long Term Refinancing Operation (LTRO) printing. And with the elections in France and even more socialism on its way, it looks like Euroland is ready to run the printing press again and the Fed will join the party. But I am not convinced that gold and silver will take off right away. Full Story
In their May letter, Paul Brodsky and Lee Quaintance of QB Asset Management in New York argue that the investment case for gold is to a great extent a matter of its likely official revaluation upward to support confidence-based currencies that have lost the market's confidence. Full Story
The immediate reaction to the $2 billion and counting loss at JP Morgan has been a flight from risk trades and a sell-off of all financial assets, gold and silver included. However, investors ought to pause for thought about what this really means for the future. If JP Morgan cannot get the derivatives market right what hope is there for any mere mortal. These are the guys that write the derivatives and ought to know best how to trade them. Full Story
Greece cannot form a government so expect elections within a month. We have come to the point where the bad news is out –the markets are telling us that Greece will likely leave the Eurozone and possibly the euro as their 10-year debt continues to trade at 27%. They may not pay out €436 million to creditors and keep it, fearing they will not get the next bailout tranche. Full Story
Woe is me! The market is falling! When will it all end? Many who own gold and silver are losing sleep over the current downturn in precious metal prices. Some are ready to sell their long term holdings, for fear the market has yet to bottom and prices will continue to fall. The abyss seems bottomless. All hope is lost. Full Story
For pretty much everyone, no matter where they are located in the economic strata, few if any questions are more germane to making plans for the future than whether the US and other major global economies are in recovery. Getting the answer to that question right is of special importance to investors and businesses. Full Story
Nobody wants to talk about it. And certainly the mob does not want change when it is painful and violently alters the illusion. This is why the fascist oligarchs and bureaucracy that control power in America (and abroad) are allowed to remain at the forefront, not accountable for their actions and accelerating the decay of our society. And this is why our civil liberties and freedom are systematically stolen by these same perpetrators, because the mob is too afraid and soft on the alternatives. This is our time of bread and circuses. Full Story
Gold stock investors have been experiencing a type of “2008 again” decline in the price of their gold stocks, yet many other assets have barely declined at all. The question on everyone’s minds is, “Will this pain end soon, or is it just the beginning of something much bigger?” Full Story
So far, 10 European political leaders out of 17 have been ousted out of office like a falling dominos in a little more than a year. The issue that has angered voters other than unemployment is austerity. We know from personal finances that when we overspend, we must cut back, pay our debts and rebuild our savings. That’s the prudent thing to do and that’s what the austerity school preaches. But what happens if the financial hole is so deep that there is no way to climb out by reasonable cutting back and saving? Full Story
I hereby challenge again the first gold bear to accept my $1 million dollar bet that gold will hit $2,000 without first hitting $1,000. I’ve once again asked the law firm of Lomurro, Davison, Eastman and Munoz of Freehold, NJ to stand ready to hold the funds in trust and shall keep this offer open until this Friday, May 18th at 5PM. And, if the world’s worst gold forecaster can actually grow some you-know-whats, I’ll make it $2 million with him (and his company can put up the $2 million, as I suspect based on his decade long poor performance he doesn’t have any real monies himself). Full Story
By: The Gold Report and Bob Moriarty - 15 May, 2012
Trotting the globe in his unrelenting quest for investing opportunities, Bob Moriarty had just completed a 21,000-mile travel-a-thon when he picked up the phone for this exclusive interview with The Gold Report. He liked a lot of what he saw and found plenty of bargains along the way. Ever the contrarian, he is picking up stocks when everyone else is dumping them; he plans to cash in when the mass of sellers morphs into a mass of buyers and drives prices up. Full Story
There’s no point in pretending it’s those sleazy, child-molesting bullion bankers at Morgan Stanley, Goldman Sachs and J.P. Morgan who have been pounding on mining stocks and bullion futures in the last few months. Lately, it has felt like the whole world has been dumping them. For the record, we are ourselves cautious buyers of bullion futures and select mining stocks at these levels, since many popular trading and investment vehicles that we track are closing on important Hidden Pivot correction targets. (Want to find out the exact prices at which were are doing the buying? Full Story
I am trying to buy gold for the intermediate to long term, but it hasn't been possible. The only "buy" using my methodology would have been on a breakout to the upside from the triangle. However I don't have any issues waiting on the sidelines for the next phase of development to take place either. Stay tuned as I hope to be laying out the case for it when it happens. Let's see if $1,550 becomes a stopping price or a rest for another leg down. Full Story
Last week I held a hearing to examine the various proposals that have been put forth both to mend and to end the Fed. The purpose was to spur a vigorous and long-lasting discussion about the Fed's problems, hopefully leading to concrete actions to rein in the Fed. Full Story
AS I WAS READING of yet another spectacular mismatch between bank managers' competence and their remuneration, and this time at JP Morgan no less, I realized there is a simple solution which really could be implemented. Full Story
I like investing in commodities because they’re very simple to understand—it’s all about supply and demand. Naturally, I take a very strong interest in the increasing demand for gold coming out of China. You see, in the short run, the paper markets (leveraged traders) rule the day. In the longer run, the physical market is all that matters. In the past few months, we’ve seen some very important changes in the physical market for gold—China is hungry. Full Story
Normally catching a bottom is not difficult. Bottoms tend to occur instantly while market tops form during a process. Yet, I’ve found that bottoms of long-term significance do not occur instantly. Like tops, they take time to develop. For example, think about late 2008 to early 2009. Commodities hit their price low in December but the bottoming process began in October and wasn’t complete until May. Full Story
There are signs in the recent jobs and ISM reports that the previously inflated economy is decelerating. Late last week, the clown running JP Morgan said stupid things about the smart [read: talented] people he has running his high risk trading operations. Europe is of course front and center as it continues to fall apart, with Gilts and Bunds rising on ‘safe haven’ buying and the bonds (debt) of Greece and other Euro basket cases declining toward their value, which is less than zero. Full Story
As one of the unfortunate few who can only imagine success in anything, and envy it in others, I am, of course, extremely jealous of Ron Paul, presidential candidate, Austrian-school economist, physician and all-around nice guy among, I assume, other laudatory attributes of which I am personally unaware, making me all the more jealous and spiteful. Full Story
By: Rick Ackerman and Gary Leibowitz - 14 May, 2012
Gary Leibowitz frequently raises hackles in the Rick’s Picks forum with his mantra that business is great, stocks are underpriced, and -- at least for the time being -- the U.S. economy is going great guns. Who knew that he is also expecting a global depression that will last for more than a decade? In the guest commentary below, he explains why – but also why, with two caveats, gold is likely to be one of the best places for investors to be for at least the next six years. Full Story
In light of the top of the multi-decade bull market and the recurring bear market massacres since the top, investors are increasingly jaded and skeptical. Stocks need to deliver an acceptable dividend stream to satisfy the growing investor preference for income. Investors want value for their money and that means sustainable dividend income at the right price. Combining the principles of value investing with market cycle tracking allows investors to identify value and the most opportune times to buy it. Full Story
Since I posted earlier today some commentary on global "Exchange Traded Funds", I thought it would also be a good time to share analysis on the Gold Miners ETF. I often get asked questions on mining stocks since I frequently post on the precious metals futures. Full Story
Show Highlights: Headline news & the Market Weatherman Report. Spotlight Stock Picks. GUESTS: Charles Goyette, The Dollar Meltdown Peter Grandich, The Grandich Letter Full Story
For quite some time in this letter I have been making the case that for the eurozone to survive, the European Central Bank would have to print more money than any of us can now imagine. That the sentiment among European leaders was that they were prepared for such a move was clear – except for Germany, which is haunted by fears of a return to the days of the Weimar Republic and hyperinflation. Full Story
Those investors panicking now and selling their gold and silver will feel as sick as dogs when they see what happens next to prices. For after a bleak patch lasting at most a couple of months the eurozone authorities will start their money printing presses rolling and hey what is the one money that they can never print? Full Story
The Keynesians and declared anti-Keynesians have joined hands in order to promote an intensely Keynesian error: European fiscal austerity as a negative factor. One contributor in Forbes refers to austerity as a death spiral. Full Story
If you think the bloodbath is over for natural gas stocks, think again... Despite falling 50% over the past year, many natural gas stocks are about to enter another major decline. And if you know what's going on here, you can use this coming decline to make huge capital gains over the next 12 months. Full Story
By: The Gold Report and John Hathaway - 13 May, 2012
John Hathaway is the senior managing director of Tocqueville Asset Management, where he manages all gold equity products and strategies. In an exclusive interview with The Gold Report, he shares why he is and will remain bullish on gold, the advice he most often gives mining companies and the investing advice that has stayed with him for almost 50 years. Full Story
Toronto-based hedge fund managers Jerome Hass and Jimmy Chu of Lightwater Partners discuss their strategic approach to taking long positions on gold, zinc and tungsten opportunities around the world. In an exclusive interview with The Gold Report, the Lightwater principals define their criteria for limiting risks when taking on junior mining investments. Full Story
Major central banks around the world are employing historically loose monetary policy to prop up the fundamentally flawed fractional reserve banking sector artificially. As cases in point, the Federal Reserve Bank, the Bank of Japan, the Bank of England and the European Central Bank have each dropped bank funding interest rates to almost zero over the last few years. Full Story
Yesterday, I made a prediction that should scare a lot of investors. I predicted a massive loss in market valuation for some of North America's largest energy producers. You might own some of these names yourself. I'll share some specific names with you in a moment... But before we cover them, it's important you know the dynamics that will drive them lower. Full Story
It was a decent down-week early on but then things stalled Thursday before it was announced that JP Morgan had a small trading loss. This small loss forced an unexpected conference call which is odd. If it’s a small loss then who cares? I have a feeling we are in for a major revelation that will rock the markets to their foundations very soon. Full Story
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