By: Bill Bonner & The Daily Reckoning Crew - 19 October, 2007
-No help needed in getting rid of money…Chinese poised to buy nooses meant for capitalists…dollar weakness irks your editor… -The borrower is slave to the lender…a long drive to a remote place…the anniversary of Black Monday… -Oil/dollar tandem days are over…rolling doggies halted by Turkish history…individually smart, collectively stupid…and more! Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 19 October, 2007
Their appearance has been sudden spread over just a few recent years. For The rapid growth of sovereign wealth funds, petrodollar investors [government controlled], hedge funds, and private equity groups [profit seekers] poses risks for the world economy as large as themselves. The prospect of major financial tsunamis can come from these monsters of capital. Full Story
A note issued by a central bank, such as the Federal Reserve Note, is bank currency. These notes are given to the government in exchange for an interest-bearing government bond. The primary means to pay for the interest on these bonds is to borrow more bank notes, thus beginning a vicious cycle that ultimately ends with the complete destruction of the currency and bankruptcy of the nation. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 19 October, 2007
The sad truth is that despite the best efforts of monetary economists everywhere, fundamental misconceptions about inflation remain entrenched in government, business, and the media. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 19 October, 2007
After powering above $85 per barrel this week, crude oil is one of the hottest commodities around. Although this week’s stellar prices haven’t yet reached oil’s all-time inflation-adjusted highs near $100 from way back in spring 1980, these new nominal record prices are really getting speculators’ blood flowing. Full Story
Besides the fundamentals, which support an investment in precious metals as a longterm strategy, the ZKB ETFs on Gold, Silver, Platinum and Palladium offer an unique setup, which provides all institutional investors and high net worth individuals with an effective and innovative instrument to implement their commodity strategy. Full Story
It is remarkable how often some investors fail to heed the maxim that it is essential to determine the ongoing trend of the market. Even the strongest securities and tangible asset investments cannot often fight the major trend. Full Story
Today is the 20th anniversary of the 1987 stock market crash, so it is time to go back to the roots of a successful trading strategy, one that had me short on the day of the crash ! The REAL secrets of successful trading. Okay so you have heard this one many times before :), in books printed by the skip full, but bare with me a while whilst I take a 20 year step back down memory lane, long before I went through my gannophile phase or saw elliott wave patterns and fibonacci golden ratios in virtually every object that my eyes gazed upon. Full Story
The historical odds still favor some type of pullback between now and the end of the month. To me that means that you don’t get overly aggressive. Rather, let’s use weakness to build a long position. If no weakness develops, you wait until November and start buying more futures or options on strength. Full Story
By: Richard Daughty, The MOGAMBO GURU - 19 October, 2007
The government simply budgeted more borrowing…and so the budget deficit appears lower on paper, even though they borrowed and spent more than they budgeted! At that ugly news, I found my hands clenching into Powerful Mogambo Fists Of Outrage (PMFOO)! Full Story
By: Rick Ackerman, Rick's Picks - 19 October, 2007
What the hell do Apple and Google care whether oil hits $100 a barrel? The shares of both companies pushed intrepidly higher yesterday even as the price of crude approached $90 for the first time. If quotes were eventually to reach $300 a barrel, we’re sure stock market bulls would find umpteen reasons to be optimistic about it. Full Story
We are witnessing a generational bull-market in natural resources. The boom is due to the ongoing urbanisation and industrialisation of vastly populated developing nations in Asia and Latin America. And central-bank sponsored monetary inflation is adding fuel to the already raging fire. It is interesting to note that despite all the “end of the world” forecasts by numerous analysts, my preferred assets continue to power ahead. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 18 October, 2007
-Ellen and Britney not today's big news…no good use for messy quarters…the warm comfort of ignorance… -The 'canary in the coal mine of collateral damage…dollar not yet circling the bowl…the see-saw stock market… -Paving the road for high prices…Turkish guerillas and they investment repercussions…and more! Full Story
No matter which way things go, gold – as it has been for thousands of years – is the ultimate hedge in times of crisis. And the recent shift into the metal, and now to gold stocks as well, is a sign that increasing numbers of investors are learning to see it as such. Full Story
Goldman Sachs bucked the trend this summer and made money – pots of money – selling subprime bonds short. Funnily enough, GS also issued what might prove the most toxic of all subprime bonds back in 2006. Full Story
Financial pundits, led by CNBC’s Larry Kudlow, were rooting for the Federal Reserve to “shock and awe” the market with a 50 basis point cut on the Federal Funds rate at the central bank’s September meeting. Fed chair Ben Bernanke didn’t disappoint, and investors recognized further dollar devaluation and sent gold, stock and commodities markets through the roof and the U.S. dollar to the basement. Full Story
By: Bob Chapman, The International Forecaster - 18 October, 2007
That credit crunch that has troubled financial markets in recent months is continuing with no relief in sight and it will continue to take its toll on the American economy. Full Story
Nowadays after all the 3rd quarter write-off announcements from many banks, sub-prime has been mentioned less on TV and newspapers. The market has returned to the old high and some more. Is this credit crunch crisis over? What might be coming next? Full Story
By: Sol Palha, Tactical Investor - 18 October, 2007
Bottom line the dollar is closer to putting in a bottom then it is to being destroyed completely. History has shown that when the masses and the so called experts are sure of an outcome, that outcome is always denied and one that actually causes pain is delivered to them. Full Story
By: Richard Daughty, The MOGAMBO GURU - 18 October, 2007
No more! Please! No more bad news about price inflation, the one thing to be feared above all things, except maybe skimpy pizza! But almost as bad! Full Story
By: Rick Ackerman, Rick's Picks - 18 October, 2007
Even with a crystal ball it would be tough to make money trading options on such popular vehicles as the Diamonds and QQQQs. That’s because, when you are buying puts and calls on these securities, you are trading mainly against very smart machines, not people. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 17 October, 2007
The coming storm? Actually were already in it. There are so many storms on the horizon I don’t know which one to address. That is why you now see gold cracking the 750 barrier. Gold is aware of these coming storms and is adjusting accordingly. Time is now moving quickly on the horizon. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 17 October, 2007
-Finding credit wherever they can…struggling with a last resort…implosion aids a desperate search… -Cheney doesn't speak for the average family…emerging markets on the verge of big gains…getting along in Hong Kong… -Housing market has no need for a Magic 8 Ball…not just shouts just Debbie Downer…silver is pretty good, too…and more! Full Story
By: Gary Dorsch, Editor, Global Money Trends - 17 October, 2007
Tension in the Middle East has always been a favorite tactic for the “Axis of Oil” – Iran, Russia, and Venezuela, to keep the price of crude oil pegged at artificially high levels. Talk of war in the world’s most unstable region can inflate a hefty “war premium” into each barrel of OPEC and Russian oil. In the Middle East, wars seem to break-out every few years, and lulls in the fighting are often just a timeout, in order to re-supply and prepare for the next round of fighting. Full Story
There is a lesson to be learned from the history of the stock market for contemporary gold investors - particularly those reluctant to purchase gold at the current prices because it seems "too high." Those holding back may be guilty of short-term thinking. Let me tell you why. Full Story
This new evidence provided in the US Treasury report as well as the rising gold price itself suggest to me that we are now witnessing the last scramble by the gold cartel to cap the gold price. It is a vain attempt by them, acting under the instructions of the US Treasury, to make the world think the dollar is worthy of being the world’s reserve currency when in fact everyone knows that it is not. Full Story
The dirty little secret that Wall Street wishes to keep quiet is that the incessant inflation since 1971 when Nixon abandoned any form of economic responsibility with the closure of the Gold window has resulted in the outsourcing of America to less inflated economies, Wall Street has alone provided this inflation and all in the name of short term profit and greed, THEY HAVE destroyed America. Full Story
By: Richard Daughty, The MOGAMBO GURU - 17 October, 2007
The damned government has now ruined the money so badly that the little bit of metal in the old coins is now worth more than the face value of the coin, but the government can't wiggle out of paying for their sins by letting people not pay…taxes! Full Story
By: Rick Ackerman, Rick's Picks - 17 October, 2007
Once again, stocks failed to recoup the day’s losses with the final-hour stampede of short covering that has become a tradition at the NYSE. We’ve grown so accustomed to the Daily Goosing ourselves that when it fails to occur, as was the case in the last two days, we start to worry that something is amiss. But what? Full Story
By: Bill Bonner & The Daily Reckoning Crew - 16 October, 2007
-Primed to play a little catch up…"It's okay. I've got my 401(k)"…flying turkeys in an up-swing… -A partial at 62, or the whole enchilada at 65?…outrageous biofuels…testing the power of an Iridium satellite… -Fed sponsored mind pretzel…what happens when it rains shoes?…no shovel required…and more! Full Story
By now, even casual observers of the Commitment of Traders Report (COT) are aware that we are at record extremes in the COMEX gold futures market, with new records occurring almost daily. The net long position of the large non-commercials and the net short position of the dealers appear to have reached epic proportions. Full Story
We believe the great trap that U.S. investors do not see is that a Dow 22000 with come only with a U.S. dollar at substantially lower levels. Investors with feel rich and exuberate with a Dow 22,000 only to realize when they sell that their U.S. dollars are virtually worthless. Full Story
Imagine walking into a hospital with chest pains and the doctor telling you that he will do his best to treat you in a few months. Such is the latest development on the U.S. bailout/bust front. Full Story
By: Steven Saville, Speculative Investor - 16 October, 2007
Inflation (growth in the supply of money) is by far the most important driver of the current long-term bull market in commodities. Specifically, rapid growth in the GLOBAL supply of money has resulted in the devaluation of currencies relative to commodities. Other asset classes, including equities and real estate, have also benefited from the inflation, but commodities have been the biggest beneficiaries because they commenced the current cycle at very under-valued levels relative to just about everything else. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 15 October, 2007
-Americans still feeling fat and sassy…inflation lightens the load…Ho Chi Minh would be proud… -A doctor gets wiped out…the Nigerians are apparently still in business…really big houses for just two people… -$90 run not unreasonable…more serious than the long lines of the '70s…dipping your fingers in dirty debt…and more! Full Story
What I’m about to write about is not pretty. In fact, it’s downright scary. Trust me; it won’t earn me invitations to many financial services firms’ Christmas parties. Most American investors won’t beat a path to my door. But in my heart of hearts, it’s not a question of “if?” but “when?” much of what I’m about to write will unfold. Full Story
One of the hardest commodities to trade this year has been the gold market. If you go back to the first trading day of the year, gold collapsed $20 only to rebound $80 the next two months only to give it back again. This was an indication of what kind of year gold traders would have and we still have a whole quarter left in the year! Full Story
Adding to the list of things that can go wrong from our last discussion, things that could cause a possible dislocation in the stock market during the possible panic window opening next month, we have an astute observation by Rick Ackerman. Then you have Gary North out further discussing Fed antics associated with a contracting monetary base, which he is suggesting will topple the equity complex, and possibly the system. Full Story
For GDX, consolidation patterns continue to appear in the form of a Symmetrical Triangle. As the price approaches the triangle apex, energy is building. Thus, a low the reading in the BB indicator typically signifies a release of energy and major price move is eminent. Symmetrical Triangles are considered a "continuation pattern" within the larger trend. Therefore, if the long term trend is bullish, then traders should "anticipate" an upside breakout. Full Story
Gold moved into new highs this week but not with any amount of enthusiasm. 15,312,000 ounces of gold sold short. Is that true? Boy, if someone had to cover that short there would be an upside explosion. But that’s only dreaming, I think. Full Story
Gold put in another good performance gaining $6.60 on the week to close at $753.80 surpassing its 2006 high of $730.40. RSI is bumping up against the 70 overbought level. Full Story
1st Hour: Headline news & market forecast. Spotlight Picks with big dividends. The International Forecaster and Chris Waltzek answer listener questions. 2nd Hour: Gary Snodgrass Christopher Mayer Full Story
By: Bob Chapman, The International Forecaster - 14 October, 2007
America’s mortgage crisis is going to get considerably worse because of the level of fraudulent lending by mortgage originators and banks is much higher than previously estimated and we predicted. Defaults on subprime mortgages will continue to soar for another 18 months as unqualified mortgage holders struggle to meet their repayments, and tightening credit markets make ARM resets impossible. Full Story
By: John Mauldin, Millenium Wave Advisors - 14 October, 2007
A recession is technically defined as two consecutive quarters of negative growth in the Gross Domestic Product (GDP). This week we look at how the GDP is actually calculated to give us an idea as to the potential for a recession. We re-visit my concepts of a Slow Motion Recession and a Muddle Through Economy. We briefly look at the sliding dollar and housing, and see how it all adds up. You'll need to put your thinking caps on, but it should be interesting. Full Story
By: Richard Daughty, The MOGAMBO GURU - 14 October, 2007
I bring this up because the Nobel Prize for economics is coming out this week, and I sure could use the huge wad of cash that comes with the Prize, and I finally deserve it this year, as I have just neatly connected Einstein's Relativity with money! Full Story
By: Sol Palha, Tactical Investor - 14 October, 2007
In early February we stated that it would be far better to buy oil then gold based on the oil to gold ratio. The risk to reward favoured investing in oil. We then published this article and as expected the single celled Gold bugs responded with fury by firing of plethora of emails stating that we had lost our minds. Full Story
By: Rick Ackerman, Rick's Picks - 14 October, 2007
We continue to view Thursday’s sharp selloff on Wall Street as little more than the beginning, and end, of a fleeting shakeout -- one intended to bring stocks down to levels where they can be accumulated at cut rates by Da Boyz before the scoundrels goose shares once again, renewing an all but endless, and seemingly virtuous, cycle of asset inflation. Full Story
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