By: Bill Bonner & James Boric, The Daily Reckoning - 21 April, 2006
-Bad news for subprime borrowers: mortgage rates still on the rise... -Foreclosures are up - and mortgage payments are down... -One delegate attempts to take a stand...views from "Mr. MAGNUM"...and more! Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 21 April, 2006
This week, as mortgage rates rose to their highest level in more than four years, real estate insiders reassured the public that higher interest rates would not hurt the housing market. Their claims were based on the fact that even though rates had risen, they never-the-less remain low in historic terms. While this may be true, it is completely irrelevant to today’s historically unprecedented real estate market. Full Story
My preference in funds and ETFs over individual stocks are well known to all subscribers. Today was a very good example of why. It was a rehearsal and many more days like today will occur as long as this gold bull market continues. Hard and fast, over the cliff plunging action is typical of a bull market, and should not be a surprise for anyone who has been in this bull market for any length of time. Full Story
By: Eric Fry & Dan Denning, The Daily Reckoning - 20 April, 2006
-Bill is still roughing it in Argentina...Americans flee big cities to make their homes in the "exurbs"... -$4.50 a gallon gas in Brooklyn...Nigeria is on the brink again - how high will oil prices go? -Zero-downside gold...the chips must land where they will...a nation on the verge of suicide...and more! Full Story
This gold game is only heating up. In no way is it in a final chapter, its last leg. The gold bull is in the early part of a middle stage, an important phase. Disinformation continues against the merits of gold in a disgusting consistent unethical and perverse manner. Two factors work to the benefit of gold and silver investors. IN NO WAY IS THE GREAT GOLD BULL (OR SILVER BULL) ON ITS LAST LEGS, LONG IN THE TOOTH, OR WOBBLY IN ITS GAIT. Expect to see a $700 gold price before the end of 2006, easily. Full Story
By: Chuck Butler, Addison Wiggin & Dr. Kurt Richebächer, The Daily Reckoning - 19 April, 2006
-Times are changing...Baltimore ranked as one of the top ten cities in America to see a real estate bubble burst... -Home inventory still on the rise...the inside scoop on how real estate professionals really feel about the housing market... -Did you know 'the scourge of the earth' works here at the DR?...what would the Great Depression, Part Deux look like?...and more! Full Story
By: Bob Chapman, The International Forecaster - 19 April, 2006
As long as the world economy runs hot, fueled by M3 injections by most governments of more than 10%, commodities and precious metals will continue to soar. The question is for how long? We don’t know for sure, but an educated guess is for three more years. Commodities will top out first then the precious metals. There is a sea of money out there and it has to be invested somewhere and the supply of that liquidity is increasing annually by more than 10%. A few years from now after the bond and stock markets have fallen, gold will ultimately be the only game in town. Full Story
By: Richard Daughty, The MOGAMBO GURU - 19 April, 2006
Nothing much noteworthy happened last week, especially as pertains to the Federal Reserve, especially in comparison to something so dramatic that it tells me, beyond any lingering, vestigial shadow of a doubt, that the price of gold is, to coin a phrase, a-fixing to go a-booming and a-fixing to go a-zooming and we'll all be rich, rich, rich, cha cha cha. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 19 April, 2006
Well, how is gold these days? Are you one of those still convinced this rise in the gold price is merely a short term rally that has reached its climax? If you follow the fundamentals you have to be aware the real forces destined to drive gold even higher have not even kicked in yet. So in other words we are barely at the beginning of a long term price appreciation of the gold price. Full Story
With the ratcheting-up of the COMEX silver margin again today to $3,750 it's pretty certain that in this election year, and hoping to give some reprieve on raising the Fed Funds rate - the margin is a tool to cripple "speculation" while insulating the general economy and stocks market the rigueurs of pain from rising interest rates. At the same time they'll appear to be "fighting inflation". Full Story
The only thing that separates these new financially strong and sophisticated entities in silver from the average retail investor, in my opinion, is their willingness to exploit the inherent weakness of the shorts. Whereas the average investor is content to buy and hold and wait for silver to trade for a free market price, in my experience, the new entities (think hedge funds) will not be so patient, but will be out to intentionally break the backs of the short sellers by demanding physical delivery. They will quickly conclude that physical silver is the prize and the key to destroying the shorts. We live in a financial world where vulnerabilities are not overlooked for long. The silver shorts will certainly come to learn that they are vulnerable. Full Story
The canny investor had just one thing on his mind yesterday: how all of the other bozos would react to news that the Fed may soon stop tightening. The fact that Wall Street has been anticipating exactly this news for umpteen months did nothing to mitigate the irrationality of those who stampeded to discount it yet one more time. Stocks zoomed higher because loose money is like crack cocaine for the economy. The dollar fell because savers and foreign lenders neither share nor countenance America’s addiction to crack. Bond prices rose because a mere whiff of crack is enough to make the yield curve turn lubricious. And of course precious metals soared knowingly, sensitive as always to the fact that we will ultimately pay a stiff price for getting high. Full Story
By: Eric Fry & Steve Forbes, The Daily Reckoning - 18 April, 2006
-In the middle of nowhere, with no phone, Internet, electricity or heat - sounds like a dream vacation! -Record high for crude oil...gas prices keep going up - and we haven't even hit peak driving season yet... -Well, at least the gold bugs are happy...what exactly is Iran up to?...and more! Full Story
By: Bill Bonner, Chuck Butler & The Mogambo Guru, The Daily Reckoning - 17 April, 2006
-Miracles and disasters...dead people take their secrets to the grave and snicker at the living... -Paper masquerading as gold...our shrinking economy...fraudulent numbers... -Crude hits $70...nuclear tensions...every mother's dream...and more! Full Story
By: John Rubino, DollarCollapse.com - 17 April, 2006
There’s a remarkable exchange in this morning’s Yahoo! message board for KBH, the big homebuilder, some of which appears below. It needs little explanation, other than to say that REO stands for “real estate owned,” a measure of what banks have repossessed from borrowers. Full Story
They are restrictive devices imposed by sovereign governments in collaboration with or under the direction of their respective central banks. For Americans it would mean our US Treasury would issue a declaration and the Federal Reserve would ensure compliance. Controls are designed to eliminate the outflow of capital (cash instruments) to outside the jurisdiction of the Federal Reserve. They are a time-worn device to prop up a failing currency and maintain the political ascendancy of the status quo. Full Story
By: John Mauldin, Millennium Wave Advisors - 16 April, 2006
What can one say about my friend Richard Russell without using a lot of superlatives? Richard has been writing and publishing the Dow Theory Letters since 1958, and never has he missed an issue! It is the longest newsletter service continuously published by one person in the investment business. Richard is now 80 years old, and writes an extremely popular daily e-letter, full of commentary on the markets and whatever interests him that day. He gets up at 3 am or so and starts his daily (massive) reading and finishes the letter just after the markets close. He is my business hero. Full Story
Other analysts have consistently made the point that inflation and deflation can only be measured in terms of increases or decreases in the quantity of money supply. Although I must agree philosophically, my concern is how much things cost and how little I have left after paying the ever higher costs of rising bills. Rather than argue with others about definitions of inflation and deflation, the Optimist chooses the more productive path of defining the new terms of inflatuation and deflatuation to mean what seems intuitive to him. Full Story
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