By: Bill Bonner & The Daily Reckoning Crew - 18 August, 2006
-The papers are beginning to connect the dots...Bernanke is hoping for a Napoleonic victory over inflation and deflation... -What happens when your bedroom ATM goes on the blink?...the only source of expansion in the U.S. economy is credit expansion... -The importance of a good story...a very bad cause of claustrophobia...and more! Full Story
With all the feeding frenzy going on amongst the mining majors, to wit: Inco, Falconbridge, Barrick, Xstrata, Cominco, we were reminded of an earlier such time, at the peak of the silver boom in 1980 when silver miners and oil companies went at it with similar frenzy. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 18 August, 2006
Perhaps Abraham Lincoln would never have devised his famous adage about fooling all the people all the time if he had a chance to observe the current bond market's complete obedience to Fed propaganda. In an exercise in mass hypnosis that would have made Orson Wells jealous, the Fed has managed to convinced bond investors that inflation no longer matters. This is like convincing major league managers that batting average no longer matters. It was a long process, but for now at least, the Fed should celebrate their communications victory, at least until the actual carnage becomes too heavy to ignore. Full Story
Sprott Asset Management Inc. of Toronto reported to the U.S. Securities and Exchange Commission this week that it has acquired another 421,800 shares of NovaGold, worth about $7 million, and raised its percentage of ownership of the company from 4.65 percent to more than 5 percent. Full Story
By: James Boric & The Daily Reckoning Crew - 17 August, 2006
-The best public spectacles rest on lies...how is energy from grain better than energy that comes out of the ground? -The problem with the American way of life is that few Americans can afford it! -Searching the roots of humbuggery...fun with numbers Richebächer -style...and more! Full Story
By: Bob Chapman, The International Forecaster - 17 August, 2006
During May and June gold fell 25%. It was overextended and it was a perfect opportunity to show investors there really wasn’t any inflation. The $180 correction in gold was expedited by a 500-ton secret gold sale by the US from gold they had on deposit with the IMF, which was sold through the Bank of England. This is the same tactic they used to drive down gold in October 1987. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 17 August, 2006
Why has owning gold become ever more important in today’s changing financial climate? It is a fact that there used to be other “save havens” that investors could turn to for asset and currency protection and insurance. Remember the vaunted and respected reputation that the Swiss Franc used to have as the safe place to park your money? Well, that is no longer the case as we observe below. Full Story
By: Roland Watson, New Era Investor - 17 August, 2006
Amidst the recent debate about the Barrick takeover bid for Novagold, one fact emerged that for me changed my perception of this company. The question was whether Novagold should be renamed Novacopper? Or to be more precise, should Novagold be classed primarily as a gold or copper producer? Full Story
Can you spot the glimmer of wishful thinking in the following headline, culled from the San Francisco Chronicle ? Here it is, just as it appeared in Wednesday's editions above the fold, front page: "Home sales fall as prices flatten // California registers country's third-biggest decline in volume as red-hot market softens". "Softens"? In our dreams, maybe. Do you recall any "red-hot" markets that merely softened? Of course not. Red-hot markets do not soften, they go phwishhhhh, like a glowing horseshoe when it is plunged into a bucket of water. Full Story
After the collapse of Long-Term Capital Management (LTCM) the regulatory bodies had a window of opportunity to enact substantial change. To be sure, as LTCM’s massive positions put the fear of God into counterparties and volatility in the financial markets erupted, all the regulatory bodies needed to do was watch LTCM burn and then utter the word ‘regulation’. Almost everyone would have signed-on, and those that tried not to would have been looked at as if they had something to hide. Full Story
-Talkin' 'bout my generation...79 trillion-dollar shackles... -Step right up...come one, come all, to the Fed's Magic Money Show! Make sure to keep your eyes on the wacky elastic dollar - it'll blow your mind! -L'Ondine et Hitler...join the SKI team - Spending the Kid's Inheiritance...and more! Full Story
By: Richard Daughty, The MOGAMBO GURU - 16 August, 2006
You probably know me for the real peach of a guy I really am. And in the few times per day when I am not, there is always a lot of anger about the mismanagement of the economy, replete with screaming and yelling, the sound of approaching sirens and, sometimes, a lot of spent bullet casings scattered on the ground. It merely adds up to the new psychiatric diagnosis, Mogambo Psychonomic Syndrome (MPS), as recently discovered by Dr. George Ure. Full Story
Since I don’t like to beat around the bush, let me state that right now I think silver is a better investment than it has ever been. Yes, I know silver was much cheaper a short while ago. At that time I tried my very best to convince as many people as I could to buy it under $5. Many did and are glad they bought it. Full Story
By: Dan Amoss & The Daily Reckoning Crew - 15 August, 2006
-Our monetary system's birthday - what hath this goldless innovation wrought? -Has bubble-time come to an end?...Addison takes the Route Napoleon... -Lively and engaging conversations from out-of-town visitors...and more! Full Story
By: Jason Hommel, Silver Stock Report - 15 August, 2006
I encourage you to register for The Silver Summit this year in Idaho. It will be the best mining conference of the year. It will be much bigger than last year as it will be held in Coeur d Alene, Idaho. Most of the silver mining companies will attend. I will attend, and give two speeches: one during the main event, and one on Sunday morning covering the religious points on silver. Full Story
Mark Klizas is a trader, a seasoned technician and former colleague of mine from the floor of the Pacific Stock Exchange. Below, he shares some observations concerning the Volatility Index (VIX) that could open the door for us as traders. Mark thinks volatility is a buy at these levels, and here's why: Full Story
In the first hour, after a quick review of this weeks top market headlines, we'll hear from the Goldwizards. Gary Kaltbaum explains what makes a bear market as well as his the indicators that he's watching to help gauge market direction. Next, Bob Chapman examines every aspect of this weeks markets, including the FOMC meeting, precious metals, stocks and real estate market.
In the second hour, John Loeffler from the financial sense news team and Steel on Steel shares his 40 years of investigative journalism experience with the listeners. John is a big silver bull and expects precious metals to go into orbit in the years ahead. He also brings his insightful and entertaining geopolitical perspective. John presents a free month of access to his show exclusively to Goldseek listeners, simply direct your Internet browsers to steelonsteel.com and enter the word Goldseek for your login and password. Once you do, you'll have access to their current shows as well as the archives. Full Story
By: The Mogambo Guru & The Daily Reckoning Crew - 14 August, 2006
-Trends in reverse...trying just about anything to motivate people to buy homes... -Homeowners try to downsize...the positive wealth effect has gone negative... -When the circus comes to town...the same rules that govern the world of money govern nearly everything else...and more! Full Story
In the past few months we’ve been subjected to a constant barrage of bad news from the Middle East and around the world. We’ve witnessed plagues, pestilence and natural disasters of biblical proportions: tsunamis, earthquakes, floods and of course, ceaseless warfare, serving as a constant reminder that these are times of great tribulation. Full Story
By: Bob Chapman, The International Forecaster - 13 August, 2006
American investors just don’t seem to get it. We had 15 central banks raise rates this year and five do so in the past month. The Bank of Italy is selling dollars and buying pounds and euros, and Wall Street and Washington are oblivious to what is going on. The Fed has stopped raising interest rates with official inflation at 5.4% and Bill Gross of PIMCO tells us rates will be cut again in early 2007 when inflation will be roaring. It isn’t what is coming in inflation – it is what is already in the pipeline that cannot be stopped and it is continuing. Full Story
Barrick never explained to the world what has happened, or how they would fix the flawed policy. Even today, the new guy at the helm President Greg Wilkins defends the policy of ‘a reasonable level of hedging’ as an ‘essential risk-management tool for the company’. It is supposed to ‘stabilize revenues and satisfy banks that finance its projects’. But if this were true, then the policy should be made even-handed. Barrick has never admitted that its one-sided forward selling was responsible for the bearish bias in the gold market for the last decade of the century and the millennium. Full Story
By: John Mauldin, Millenium Wave Advisors - 13 August, 2006
The Fed elected to pause in its rate hiking assault on inflation this week. With the backward looking data pointing to higher inflation that must mean they expect the economy to slow down and thus tame what incipient inflation is lurking around the corner. But wait, the data this week suggests the economy may not be slowing down. The market thinks that means the Fed will have to pick up the rate hike cudgel and once again do battle with inflation, which means higher short term interest rates. But the Bond King himself, Bill Gross, declares we are at a turning point and another bull market in bonds is about to appear! Full Story
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