By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 May, 2011
George Soros, the billionaire founder of Soros Fund Management LLC, sold most of his holdings in the bullion-backed SPDR Gold Trust and iShares Gold Trust funds in the first quarter, while buying shares of mining companies Goldcorp Inc. and Freeport-McMoRan Copper & Gold Inc. Full Story
Junior mining is a people game. In this Gold Report exclusive, an excerpt from his speech at the Casey Research Conference, Global Resource Investments Founder Rick Rule advises going for the big wins by betting on the best teams with the best chances of discovery using a global counterintuitive approach. Full Story
By: Michael Pento, Senior Economist at Euro Pacific Capital - 20 May, 2011
Based on many pronouncements by economic policy makers, reams of articles by the top financial journalists and near continuous discussion on the financial news channels, it appears that the quantitative easing juggernaut that has steamed the high seas of macroeconomics for the last three years is finally pulling into port...supposedly for the last time. Full Story
Summing up, the overall situation appears bullish for the yellow metal in the short term. Support levels have recently been tested and held, and a study of similar corrections in the recent past indicates that there appears to be at least a short-term time frame in which a further rally appears likely. Once the next local top is in, we expect the decline to continue. Full Story
By: Adam Hamilton, Zeal Intelligence - 20 May, 2011
Commodities prices have been exceptionally volatile in recent weeks, with big daily rallies and plunges intermingled. Seemingly without rhyme or reason, commodities surge one day as traders crave riskier bets but then fall the next as they flee risk. While this commodities risk trade often looks capricious and schizophrenic, it actually has a logical and consistent driver. The state of the stock markets. Full Story
First one must understand the Hyperstagflation which increasingly threatens to leap out of the Econo-Financial ‘Pandora’s’ Box we face, to understand how to Profit and Protect from it. Consider the following Thumbnail Sketch of the Challenges, which we and others have described in detail elsewhere. Full Story
It’s usually constructive to go over the landscape of the market and get a feel for where things are at. Since the end of April we’ve seen the market undergo a definitive change of character. Instead of seeing most of the market in one big rally mode that we’ve become used to since September 2010, we’re seeing corrections, non-confirmations, and trend changes across different parts of the market. Full Story
When war broke out in 1861, the federal government was without its own money machine, though that would soon change. As expenses from the war mounted, the U.S. government once again issued Treasury Notes to help finance it. Full Story
Blackstone Group LP (BX), the world’s largest private equity firm, is set to invest $1 billion in unconventional oil and gas projects in North America through a joint venture with Alta Resources, which has cemented a spotlight on fracking. Full Story
It never ceases to amaze me how clever, cunning and shrewd the Rothschild Cabal manipulators are (like the Rothschilds, Lazards, Warburgs, Roggenfelders, Bronfmans, Oppenheimers, etc) as they almost continuously manipulate and move the financial markets to their advantage for profit and gain. Thus we, the suckers, get manipulated, cheated, defrauded and screwed, good and proper. Full Story
By: Rick Ackerman and Tom McCafferty - 20 May, 2011
Crude oil is just one of many things the world is running out of, says our friend Tom McCafferty, a frequent contributor to Rick’s Picks, in the guest commentary below. Never one to pass up an opportunity, Tom, author of Options Demystified and numerous other books on trading, suggests using puts and calls to manage short-term risks while investing for the long haul in “real entities that produce real products.” Full Story
You will recall that one year ago we witnessed an epic market glitch called the 'Flash Crash', that took market sentiment down from very unhealthy (over bullish) to quite healthy (overly bearish). You will recall that the blogger had up to that point been managing a pained and laborious Inverted Head & Shoulders in the gold-silver ratio (GSR) which, if activated would have put an end to bullish markets. Full Story
By: The Energy Report and Alka Singh - 19 May, 2011
Emotional sell offs of uranium stocks in the wake of the Japanese nuclear disaster created a buying opportunity, says Alka Singh, a mining analyst at Jennings Capital. In this exclusive interview with The Energy Report, she runs down the supply/demand problem that could drive prices to $75/lb. Full Story
The cost of imported goods rose at an annualized rate of almost 30% during April of 2011, following a 36% (annualized) rate of inflation in March. This inflationary shock is hitting US consumers hard. Because there has been no accompanying average rise in income, this means that average standards of living are already beginning what could become a potentially rapid descent. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 19 May, 2011
Each year the mining industry must come up with a major new gold discovery of five million ounces just to replace what one of the world’s top gold miner’s digs up. Because large pure gold deposits are so hard to find - the low hanging fruit has already been picked - gold miners are turning to deposits that contain other metals like copper. Full Story
By: Jeff Berwick, The Dollar Vigilante - 19 May, 2011
We, here at The Dollar Vigilante (TDV), have been big supporters of Hugo Salinas Price for years. Not just for his business exploits, which have made him a billionaire, but because he now spends a significant portion of his time trying to return silver as a monetary medium in his home country of Mexico. Full Story
By: The Gold Report and Clive Maund - 19 May, 2011
Clive Maund returns to The Gold Report to provide some keen insight into the U.S. dollar's recent surge. "Be patient," he says, "because once the dollar rally is over, an excellent buying opportunity will be in the offing." Clive says the Fed is doing all it can to get investors out of commodities and into Treasuries before it unleashes QE3, and with it a new round of inflationary pressure. Read more in this exclusive interview with The Gold Report. Full Story
Have Gold and Silver seen their lows for this correction? Were encouraged to think so, for two reasons. First, downtrends in both Comex June Gold and July Silver reversed on Tuesday from precisely where they should have if the long-term uptrend is to be judged healthy. Second, our astute friend and mining stock consultant Chuck Cohen, who turned cautious on bullion just before the correction began, thinks the selling may have run its course. In the guest commentary below, he explains why. Full Story
The table displayed immediately below is likely to surprise even our most-jaded readers. It shows the astronomical increase in cash prices for well-known food commodities over the past 12 months. With inarguable exactness, it contradicts the nearly constant prattle in the mainstream press that inflation is under control, or that it is peaking and likely to come under control sometime soon. Some items on the list have doubled -- even tripled -- in price over the past year. Full Story
Bill Gross, manager of PIMCOs Total Return Fund, the largest mutual fund in the world, claimed that reports indicating he was net short on US Treasuries were apparently part of a gross misunderstanding. Having reported this news to our readers, we thought it absolutely important to continue following up on this story until it reaches its conclusion. Full Story
Our problem today is that the most obvious source of a major crisis today is the debt structure of Western governments, central banks, and commercial banks. Because governments are the problem, there will not be a solution provided by politicians. The same is true of central banks. Full Story
By: Bob Chapman, The International Forecaster - 18 May, 2011
The problems in the euro zone continue to multiply. Greece, Portugal and Ireland are dominating the news at least in Europe, as America is mostly shut out by the controlled media. The events in the euro zone are every bit as important as those regarding US problems. Full Story
Lately there have been calls for the US to sell some or all of their gold in order to help reduce the debt and budget deficits. In 2010 the US went into debt a further $3.5 billion each day. With the US supposedly holding 147 million ounces of gold at today’s rough price of $1,500 an ounce that only comes to $222.5 billion. Full Story
The US Federal Reserve sits on the world’s largest gold reserve in Fort Knox, while the Treasury Secretary Tim Geithner has just announced that the US debt ceiling will finally be breached on August 2nd. Full Story
By: Rick Ackerman and Tom McCafferty - 18 May, 2011
Governments’ efforts to prop up the global economy have produced a recovery that’s done little to help the working man. In the commentary below, our friend Tom McCafferty, a veteran commodity trader as well as the author of some critically acclaimed books on the subject, thinks we’d all be better off if the recession were allowed to take its course. Regardless, he notes, there will always be opportunities for astute traders. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 May, 2011
We all have a tendency to listen to statistics and formulae and believe that they drive the monetary system. This starts on a false basis because these numbers are driven by more fundamental realities. They should be the result of measured realities, but they can be structured in a way that ignores some of the basics. Interest rates are not just one item. It’s too general a term. There are a host of interest rates even at basic levels that are the results of economic environments. Full Story
Increased volatility seen in silver market in the recent past has reflected in market sentiments, and no wonder that we have received many questions about silver fundamentals and the COMEX margin requirement hike. For those of you who are concerned with the possible deterioration in silver's fundamentals (and long-term targets), here's a quote of someone in the business. Full Story
I heard some disturbing reports about silver supply last month that I felt every investor should know. And while precious metals are currently in correction mode, the long-term concerns with supply won’t disappear anytime soon. In attempt to get a handle on the bullion market, I spoke to Andy Schectman of Miles Franklin, who has contacts that run deep in the industry. What he sees everyday might just compel you to count how many ounces you own… Full Story
When any market makes a big move, tremendous interest in that market appears. After greed and fear, the next most financially damaging emotion in the market is likely the human ego. A number of major markets have made big or threatened to make big moves recently. The winds of change appear to be in the air with interest rates. Often there is what appears to be an initial “sea change” event. Unfortunately, most of the market action that follows a sea change move is not very predictable. Full Story
So, commodities might have peaked (in real terms), but that means real money is only just beginning its parabolic move. Fundamentally, gold and silver are real money and not pure commodities. We are in a period where things will be exposed for what they really are. Fiat money and its related debt instruments will be exposed as worthless pieces of paper, whereas gold and silver will be exposed as the best value preservers. Full Story
By: Steve Saville, The Speculative Investor - 17 May, 2011
Governments and central banks have invoked the writings of J.M. Keynes to justify the massive increases in government spending and monetary inflation that have occurred over the past few years. However, some of Keynes's apologists have pointed out that the famous British economist would not have agreed with many of the policy responses for which his work has provided the intellectual justification. They point out, for example, that Keynes only advocated temporary increases in government spending as a means of absorbing shocks to the economy, and that he was dead against currency debasement and the creation of structural deficits. The problem, though, isn't that Keynes's theory has been applied to an unreasonable extreme; the problem is that the theory is completely wrong. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 17 May, 2011
Today the U.S. government officially borrowed beyond its $14.29 trillion statutory debt limit. And even though the Obama administration has assured us that accounting gimmickry will allow the government to borrow for another few months, the breach has given seeming urgency to Congressional negotiations to raise the debt ceiling. Republicans are making a great show of acting tough by linking their "yes" votes with promises for future budget cuts (that could even slow the rate of debt increases at some uncertain point in the future). But as we go through the process, many novice observers may wonder why we have a debt ceiling at all when our government has never shown the slightest inclination to respect its prior self-imposed limits. Full Story
In last week's EI letter we commented on the parabolic rise in the silver price and made the observation that, although the mining equities don't always participate in the "up" move in metal prices they seem to always "enjoy" the down moves. This week proved the rule, as the commodity sector got a good shellacking. Although we have been quite cautious and have noted several times that we, and the market, were pricing a fair bit of success into an inherently high-risk investment sector, it still hurt. Little more needs to be said about this week's two by four to the head that the charts below don't illustrate. Full Story
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