By: Peter Schiff, Euro Pacific Capital, Inc. - 19 January, 2007
As Wall Street continues to put their faith in the “goldilocks” hypothesis, it may come as a surprise to those familiar with my more negative view that I too fully expect this scenario to unfold. However I have a much different and technically far more accurate interpretation of the parable. After eating a bowl of porridge which was neither too hot nor too cold, the little clueless blonde is ultimately chased out of the house by three angry bears. Wall Street bulls will be similarly dispatched. However, upon further reflection I believe that the “Goldilocks” scenario is apt in a way that none of its adherents realize. Wall Street might actually have it half right for a change. In this case it’s the first half, “gold.” Full Story
In this issue we will be covering Global Stock Markets, interest rates, commodities, currencies, and what we believe to be the issues confronting these markets for the year. It is a tricky game this year, as so many things unfolding in the financial and economic world have not been seen in history. Creative finance, which many call innovation, is writ large across all markets. And the extraordinary breath is simply impossible for the mind to grasp in many areas. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 19 January, 2007
-Becalmed in a sea of liquidity...gold is your annoying friend... -A commodity more precious than oil?...if you're so rich, how come you're not smart? -Don't fight 'em, join 'em..."hedge funds for morons"...and more! Full Story
Nearly 16% of all US bonds are now rated CCC or below, reports the Financial Times. The Wall Street Journal says these high-risk bonds make up 42% of all US tradable debt. The European market has certainly seen record issuance of these near-default bonds. But the newspapers can't even agree about the size of the bubble! Full Story
The breakdown of the Bretton-Woods Accord in 1971 created the most wide-spread and large-scale experiment with fiat money in history. We are in uncharted territory and the majority of our financial, business and political leaders have no clue what is going on. Gold is the only form of money that cannot be created by fiat and does not represent another’s liabilities. Gold’s price reflects the true devaluation of fiat currencies and remains our best guardian against the ravages of fiat money inflation. Full Story
By: Rick Ackerman, Rick's Picks - 19 January, 2007
One of the most useful tricks taught at the Hidden Pivot seminar is the “look-to-the-left” rule. To apply it, simply fix your eye on a rally peak, then move backward in time along the chart. If it turns out that the new peak has surpassed at least two prior peaks to the left of it, we can confidently infer that the rally has further to go. More bullish still is a rally that slightly exceeds a prior peak that is either visually obscure or which occurred so long ago that it is no longer on the radar of conventional chartists. Full Story
By: Congressman Ron Paul & The Daily Reckoning Crew - 18 January, 2007
-Financialization doesn't add a tittle to real wealth…margarine and toilet paper are safe from New Inflation… -A bumbling effort to make a buck…a much funnier empire than the other two… -Infrastructure is a four-letter word…America bleeds cash…and more! Full Story
By: David N. Vaughn, Gold Letter, Inc. - 18 January, 2007
I ask myself sometimes why I keep writing these letters and I suppose it stems from my desire to comment on what I consider the obvious. Where I often see established “trends” and patterns others just see disjointed events. One real serious trend I see in development is the importance of Iran in the scheme of world politics. It doesn’t take a rocket scientist to notice that things seem to be coming soon to a show down over Iran and I don’t think that showdown will be a pretty event. The lines are definitely being drawn now in the sand via both sides of the fence Full Story
By: Rick Ackerman, Rick's Picks - 18 January, 2007
After watching Jim Cramer’s “Mad Money” on CNBC yesterday for the first time, I’m forced to admit that he’s not all blather. Actually, it was the first time I’ve tuned to Cramer with the sound on, although I’ve watched him soundlessly many times on the hermetically sealed sauna-room TV at the local gym. Even with the sound off, you’d swear you can hear the guy, since practically every word he utters is punctuated by the kind of body language and wild-eyed emphasis that makes us all lip readers. Full Story
-Turning mass man into a chump…the slick side to this performance… -Take a trip into the future with Kevin Kerr…spaghetti with a policeman on top… -Victims of technology…bilingual benefits…and more! Full Story
By: Bob Chapman, The International Forecaster - 17 January, 2007
The world elitist establishment, which planned the destruction of the US economy, has the US political and financial establishment in a position where they do not even want to think about the situation they are facing. They all want to lower interest rates and, of course, if that happens the dollar will go into a tailspin. They know what the Fed is doing with money and credit, and they know we are in recession. On the other hand they cannot even contemplate raising interest rates for political and economic reasons. How’s that for being in a box? Full Story
The US Dollar is hated by nearly everyone, even its own government apparently (out of control wildcat spending) and of course the voracious American consumer who just can't wait to get his hands on ever more credits to feed his consumption habits and push the nation's current account further and further out of balance. The Fed does not hate the dollar however. The dollar is the Fed's note, its product, its means of creating limitless fiat fun - and debt. Full Story
By: Richard Daughty, The MOGAMBO GURU - 17 January, 2007
I'm locked down, safe and secure, in the Mogambo Fortress Of Paranoia Central (MFOPC), away from the economic mayhem, and I'm idly surfing the net to monitor the unfolding slow-motion implosion of the world economy. I have my feet up on the console, and I am casually using the barrel of an AK-47 to tap out coded commands to the computer keyboard. Like an idiot, I wasn't really paying attention to what I was doing, old habits being what they are, and I reflexively clicked on Doug Noland's Credit Bubble Bulletin at PrudentBear.com. Full Story
The real "Gift" is a list of talented writers, analysts, and websites whose brain trust if accepted en toto will assist us in understanding not only the precious metals complex but also the corresponding landscape as would affect everything from the global geopolitical scene to the general financial stock markets. Full Story
By: Rick Ackerman, Rick's Picks - 17 January, 2007
One thing the cold weather did not do was reverse the relentless slide of crude oil quotes. I’m still projecting a low of 45.32 for the February contract, and yesterday’s price action did nothing to alter the forecast. Even so, we can try bottom-fishing with relatively little risk as it continues to fall. The nearest Hidden Pivot support lies at 50.86, and I’ve provided detailed instructions for leveraging it in Wednesday’s Touts. Full Story
By: Gary Shilling & The Daily Reckoning Crew - 16 January, 2007
-The days when the dollar was tied to gold by a wispy thread…living in a fool's paradise… -This is not your father's boom…never have so few done so little and made so much doing it… -China's trillion-dollar milestones…the trouble with the plastic elastic…and more! Full Story
Investors are bombarded these days with new indices and ETF’s on virtually all kinds of different mixes of the same information. Most have similar performance levels and must be rather confusing to most investors. We at Precious Metals Warrants have our own index (PMWI) for which we just completed our analysis for 2006. You will find no other index similar to ours, guaranteed. Full Story
1st Hour: * This weeks top market headlines review. * Goldseek Radio's Spotlight Pick. If you'd like to be added to Chris's free Spotlight Pick e-mail list, for each weeks ticker symbols and related information, please send a message to: goldseekradio@hughes.net * Bob Chapman and Chris Waltzek outline their market and economic forecasts for 2007 and answer listener's questions. * Gary Kaltbaum from Fox News joins the broadcast. 2nd Hour: *Goldseek Radio's most requested guest: The Mogambo. * Richard Daughty and Chris Waltzek discuss the economy and the precious metals bull market. To Sign up for Peter's Free E-mail list, please click here. For more detailed services, please visit GoldForecaster.com and SilverForecaster.com Full Story
By: The Mogambo Guru & The Daily Reckoning Crew - 15 January, 2007
-Investors are still comatose…constant debt equals artificial wealth… -Which will give out first: the borrowing/spending binge - or us?…Bonus fever attacks Goldman Sachs… -A faux pas in Friday's essay…and more! Full Story
Looking ahead, if the election of 2008 starts to swing toward the Democrats, the inflation uncertainty will rise and the markets will reflect that. At some point as the winner clarifies, and also as the winner’s economic biases clarify, this uncertainty will resolve. But the point is, we can now foresee that the uncertainty will probably rise and affect stock and bond markets negatively. Gold will follow or even lead the monetary base. If it rises, so will gold. Full Story
Is there a limit to the amount of Money the Fed can Print? It’s obvious the Fed is willing and able to print an infinite amount of money. So why wouldn’t they? The answer lies in the fact that if people expected a never ending blizzard of paper they would take steps to protect themselves from holding such a depreciating item. How? By buying those items whose supply remains relatively inflexible for example Gold. Full Story
In Part I we elaborated on the thesis of the German economist Heinrich Rittershausen that the appalling world-wide unemployment of the 1930's was caused by the coercive legal tender laws of 1909. The chain of causation is as follows: the French and German governments, in preparation for the coming war, wanted to concentrate gold in their own coffers. They stopped paying civil servants in gold coin. To make this practice legal they had to enact legislation that gave bank notes legal tender status. Full Story
By: Bob Chapman, The International Forecaster - 15 January, 2007
This recent market manipulation by our government is over and it points out again why in trend in a bull market you go long and stay long and buy on bogus dips. Technically, which we do not often refer to, both are very powerful with no gaps to fill. Incidentally, gold and silver rarely rally on Friday and almost never before a long US weekend. On Thursday on Tocom the big gold shorts reduced their net short position by 551 contracts to 119,027 and Goldman covered 83 contracts bringing their net short position to 33,098. Full Story
By: John Mauldin, Millenium Wave Advisors - 15 January, 2007
I got a lot of mail as usual from readers about my annual forecast. It was about evenly divided between those who think I am too much of an optimist and those who think the economy will avoid a recession. There are a number of readers who think we have already seen the bottom, and that 2007 will be a banner growth year. Full Story
By: Rick Ackerman, Rick's Picks - 15 January, 2007
“Rapid Plunge in Price of Oil May Fuel Growth”. That was the headline on Friday’s lead story in The Wall Street Journal The same day, I received a link to an article at FinancialSense.com asserting that the stock markets had been “worn thin by lower oil prices.” If this seems paradoxical, the author of the piece, one Jan Allen, further declaimed that “when the stock markets do go down, the Nasdaq is going to experience a fractal break like it did in May of this year…to the great reward of those who are selling it short.” Full Story
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