Europeans have a long history of mining as well as respect for the environment. How are the two sometimes competing traditions influencing the resource sector in Europe today? Full Story
After being sucked into the general commodities correction, silver has been relentlessly drifting lower since late February. But this weakness has forced the white metal down to a very bullish place technically. Silver is now quite undervalued compared to prevailing gold prices, its primary driver. Thus it has great potential to rally mightily in the coming months to regain much lost ground relative to gold. Full Story
By: The Gold Report and Joe Mazumdar - 20 July, 2012
Joe Mazumdar, senior mining analyst at Vancouver's Haywood Securities, adheres to certain fundamental metrics when reviewing the pedigree of a junior firm. In this exclusive interview with The Gold Report, Mazumdar explains why some juniors are positioned to do better than some majors in the current geopolitical climate and he counsels pragmatism: the key to unlocking golden opportunities is locating firms with experienced management and adequate cash flow that can qualify for mixed-source financing in the international context of uneven gold prices. Full Story
Previously a bellwether for the global economy, turnover in fine art sank by three-fifths in the early '90s. It tanked again in the early Noughts, taking the revenues (and equity valuations) of the big auction houses down with it. Yes, the stock price of Sotheby's – one-half the global auctions duopoly with unlisted Christie's – sank as today's depression began with the credit crunch 5 years ago this summer. But see what zero rates, quantitative easing and the unflustered money of plutocrats worldwide then did to BID? Full Story
Unreliable Official Statistics and poor or just flat inaccurate Mainstream Media reporting leaves many Investors in a quite vulnerable position. Investors are thus so disadvantaged by having to rely on such lousy data (or lack of any data) that it is arguably tantamount to financial abuse. Full Story
Each week we reply to questions from our subscribers and include them in our Premium Updates. Today’s essay is dedicated entirely to commenting on one of the letter that we received this week. It touches several interesting points and shows us that there are still some controversies and doubts regarding two most popular approaches to analyzing financial markets, i.e. technical and fundamental analysis, that need clarification. Full Story
The cycle to cleanse the debt is still young. The excesses of the 1990’s and early part of the 2000’s is most likely going to take years to resolve. The resultant fall out from that cycle of excess should also continue to be with us for some time as well. The fall out has increased societal tensions, social unrest and even the potential for global warfare. Full Story
The cellphone in your pocket is NASA-smart. Yet it costs just a couple hundred dollars. So why is it that rising technical capabilities are leading to drastically falling prices happening everywhere, except in your medical bill? Full Story
Everything from the ability to pay for Social Security, to projected federal deficits, to retirement planning and stock market valuations is based upon assumptions that the United States and other nations will emerge from crisis and return to "normal" long-term growth rates. What happens if we don't return to those growth rates? Full Story
I always get a Real Mogambo Laugh (RML), the one famous for dripping with scorn and disrespect, when someone, like Ben "Mental Case" Bernanke of the Federal Reserve, says that inflation is good because it makes your fixed debts less burdensome. Full Story
Reflecting on the latest report on the gold market by Erste Bank analyst Ronald Stoeferle (http://www.gata.org/node/11564), MineWeb's Lawrence Williams inclines even more toward the likelihood that the gold and silver markets are manipulated. Williams writes: Full Story
The summer has been a dizzying one for commodities. The last four weeks have witnessed the price of corn soaring toward an all-time high due to withering heat in the Corn Belt states. At the same time, this weather-driven bull market in the grain market, as well as the recent oil price rally, has left investors wondering if this summer might finally be gold’s time to shine. Full Story
Lastly, I have my eyes on Gold, and I am prepared to get heavily involved soon. I expect there to be increasing probabilities for a near term trend to develop. It's all noise on the short term charts until then. Day trading with my methodology would be extremely difficult. I would keep an eye on the blue triangle of the daily chart in the meantime, see right hand side below. Full Story
The FOMC announced that Operation Twist would continue through year end. This is where the Fed tries to re-inflate the housing bubble (and related areas) by buying long term T bonds to artificially hold down long term interest rates while sopping up any inflationary implications to the money supply by selling short term T bonds. Throw in a side of ZIRP, and you've got a lot of free money flying around out there with very subdued inflation effects. Full Story
Falling interest rates are a feature of our current monetary regime, so central that any look at a graph of 10-year Treasury yields shows that it is a ratchet (and a racket, but that is a topic for another day!). There are corrections, but over 31 years the rate of interest has been falling too steadily and for too long to be the product of random chance. Full Story
Still shining after 71 years some five kilometres under the Atlantic Ocean off the coast of Ireland, this hoard of 1.4 million ounces of silver was recovered by the SS Gairsoppa owned by Odyssey Marine Exploration, its heaviest and deepest underwater mission to date. Full Story
One appreciates the results of the study sponsored by the World Gold Council that the demand for gold since the twin global crises has increased substantially – globally. But for it to return to the ‘official domain, it must be implemented in a way that central banks can control and dominate its use in a way that supports the current global monetary system. Full Story
IT'S A HARDY perennial for anyone studying the gold market. And with the British summer being more like November this year, very hardy perennials are just what is needed. But will the gold price blossom on schedule? Full Story
There are two drivers of stock prices: valuation and earnings. Valuations are very much driven by investor sentiment while earnings are driven by revenue and margins. In recent months we’ve devoted some time to the three phases of a bull market. These are the stealth phase, wall of worry phase and participation or bubble phase. Earnings rise in each stage while valuations only increase in the first and last phase. The average gold producer has made no net progress in five or six years because the average valuation has declined considerably. Going forward, this means opportunity. Full Story
So there I am, minding my own business, standing in my own front yard, yelling at my stupid neighbor "Mental problems? I don't have any mental problems, you whacko! You are the one with serious mental problems! You are the one who is NOT buying gold, silver and oil, even when the nasty Federal Reserve is creating trillions of dollars in new money and credit per year, Right In Front Of Your Stupid Eyes (RIFOYSE), you moron!" Full Story
By: Jason Burack, Mo Dawoud, John Manfreda - The Petro Profit Report - 18 July, 2012
Oil prices have drastically retreated in the last few months to an 8 month low yet gasoline prices are still only down, on average, 40 cents per gallon nationally. A lot of this is thanks in large part to a secret stimulus from the Saudis to help President Obama, Ben Bernanke and the US consumer. The Saudis accomplished this stimulus by ramping up oil production for a number of powerful reasons that help the US a lot in the short term, but does nothing to solve any long term issues in the oil market or the world financial system. Full Story
According to author and investor Peter Schiff, the U.S. economy is heading for an economic crash that will make 2008 look like a walk in the park. Stimulus programs can delay this day of reckoning, but only for so long and only at the expense of making the eventual meltdown much, much worse. Full Story
The Federal Reserve will hold a two-day policy meeting on July 31 that is expected to yield no change in U.S. interest rates, but markets will analyze and dissect every word of Chairman Ben Bernanke for any clues that the central bank will do more to promote economic growth. Already it seems that three top Federal Reserve policymakers on Monday laid the groundwork for a third round of bond purchases by saying the U.S. recovery was weak and unemployment too high, but at the same time they said the situation is not bad enough to warrant another QE right now. Full Story
The gold market feels like the Indy 500 track on race day. All the cars of the precious metals sector are revving their engines on the start line. The junior gold stock sector seems to be revving its engine the loudest of all. To get a visual picture of why I hear that sound, please click here now. I’ve compared GDXJ to CDNX, and you can see that a head & shoulders bottom pattern has formed, suggesting that junior gold stocks are poised to significantly outperform the general junior resource sector. Full Story
Although it probably won't happen within the next couple of months, it's a good bet that the ECB will eventually be prodded into monetising a large amount of European government and commercial bank debt. It is therefore appropriate for us to discuss the pros and cons of such a development, but since we can't think of any pros* we'll have to focus on the cons. Full Story
The opportunity to build a high-speed rail line that would initially traverse a stretch of California desert and farmland is catnip to the state’s politicians and organized labor, if not to taxpayers. The $68 billion project would mean instant cash and jobs for a state that is verging on financial collapse. But does it make economic sense? Maybe to someone on LSD. Full Story
The Fourth of July week brought unwelcome birthday gifts to the United States in the form of poor domestic jobs data and similarly gloomy information from other major economies. Amidst the heat and festivities, it has become difficult to deny that the economy is deteriorating. Politicians appear helpless, thrashing about for a solution and blaming everything and everyone but themselves. This lack of leadership is apparent to those who have by now lost all confidence of a possible quick rebound, if only the tough decisions had been made early and swiftly. Full Story
Most of my recent analysis has pertained to Europe. However, on the other side of the pond, the US economy is showing major signs of deterioration. The jobs data, even after the BLS massages it, is awful. Secondly, 1Q12 GDP estimates have been revised lower. We’ve also seen the two consecutive bad Philly Fed surveys, including the fact that the average workweek has shortened for two months now. We’re also seeing a drop in the Empire Manufacturing index. Full Story
We have written in these pages before about the financial authorities giving gold a helping hand, sometimes with their short sited policy actions. Freezing Iran out of the payments system so she settles exchange in other forms with her trading partners, and allowing gold to move back to the heart of the banking system, are two good examples. Full Story
In its most recent Meeting Minutes for June 19-20, which were released on July 11th, the FOMC gave no indications of another round of stimulus or QEIII. Nevertheless, the monetary policy making committee did reiterate that it would continue its “Operation Twist” program of bond repurchases through the end of this year. Full Story
I have recently written about the breakdown of disaggregated data from the futures markets into producers and swap dealers for gold and silver futures, as reported in the Commitment of Traders reports issued by the US government’s Commodity Futures Trading Commission (CFTC). There is a further category of trader to consider, and that is Managed Money. Full Story
Though I favor physical Gold held outside the banking system that can't get MF Global'd over those paper Gold derivatives known as Gold stocks, there are times when a speculative opportunity presents itself that cannot be ignored (at least not by me). Now is such a time in Gold stocks. Full Story
Later this month Congress will have an unprecedented opportunity to force the Federal Reserve to provide meaningful transparency to lawmakers and taxpayers. HR 459, my bill known as “Audit the Fed,” is scheduled for a vote before the full Congress in July. More than 270 of my colleagues cosponsored the bill, and it has the support of congressional leadership. But its passage in the House of Representatives is only the beginning of the battle, as many Senators and the President still don’t see the critical need to have a national discussion about monetary policy. Full Story
With last week’s powerful finishing stroke, the U.S. stock market continued to thumb its nose at reality, rampaging higher on economic news that seems to be getting worse by the day. Around mid-week, readers of the Wall Street Journal could have glimpsed a perfect storm gathering on the horizon. Numerous articles spread across two inside pages summed up a darkening global economic picture. Full Story
The U.S. Federal Reserve Bank of New York has just released what is essentially a stock market manipulation bragging rights report. Based on their research, they have concluded that stock prices would be 50% lower if they had not worked their magic with interest rates, quantitative easing (QE) and various other tools in their monetary toolbox, as announced at the regular Federal Open Market Committee (FOMC) meetings. Full Story
About this time two years ago I began to seriously work with Jonathan Tepper on our book Endgame: The End of the Debt Supercycle and How It Changed Everything. It came out the following March. I remember vividly that in November of that year, as crisis after crisis hit Europe, and the first of about 20 summit meetings which were supposed to solve the crisis was convened, that Jonathan and I worried that the book would not be out in time to actually catch the Endgame before it happened (at least in Europe). Full Story
Egypt’s second richest man Naguib Sawiris has made a $500 million bid for the Canadian gold mining group Mancha Resources, the most spectacular move yet into the yellow metal by an Arabian businessman. Full Story
Gold rose 0.15% this past week but remains trapped within this triangle pattern for now with the upper end right at the key $1,600 level and the lower end at $1,560. We look set to break it in the next week or so and of course I’m hoping for an upside breakout but I can accept it if we break lower as well. Full Story
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