By: Bill Bonner & The Daily Reckoning Crew - 22 December, 2006
-No matter what the era, great wealth is only two words away…the curious beast of private equity… -Is the world a richer place now that Hertz is on its own?…What hath all this money-shuffling wrought? -The definition of wealth has changed…helpful travel tips for the upcoming holiday weekend…and more! Full Story
Welcome to the inaugural GoldSeek.com Chat with Rick Ackerman. We will be starting the first part of the chat at noon Eastern with a view-only session. Questions pre-submitted will be answered first by Rick Ackerman. During the 2nd half, we will open up the floor to your questions.
Those of us in the older generation remember the 1970s. It was a wonderful time (for gold bugs). Gold went up. Almost all commodities went up. Bonds went down. Stocks went down. By 1980, most of the top mutual funds were gold funds. All of the establishment gurus lost their shirts. By 1981, they were believers in Dr. Doom. The (non-gold) mutual funds went to 12% cash. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 22 December, 2006
A report released this week by the Center for Responsible Lending, a Durham, N.C. based research group, predicted that 1 in 5 sub-prime mortgages originated in the past two years would end in foreclosure. While most on Wall Street dismissed this survey as overly pessimistic, it actually represents a rather rosy outlook. Full Story
While copper and other base metals prices have been under pressure this week the price of gold has held up very well. As you may recall, my biggest nervousness about the gold price is that a decline in base metals prices could drag the gold price down as well. The fact that gold held up this week gives me a little more encouragement that the worst may be over for gold -- but not enough that I would cast caution to the wind just yet. Full Story
By: Rick Ackerman, Rick's Picks - 22 December, 2006
A reminder: Tune in to GoldSeek.com today - (Friday) at noon EST - for some laid-back tech talk about your favorite stocks, commodities and indexes. To pre-register for the session click here or point your browser to: http://www.goldseek.com/chat/. To e-mail me a question that you would like to have answered, click here or point your browser to this URL: http://www.goldseek.com/chat.php Full Story
By: James Turk & The Daily Reckoning Crew - 21 December, 2006
-Stuck between a rock and a soft place...do actresses make good wives? -Gargantuan tech bubbles and gullible schmucks... -The last plane out of town has no toothpaste on it...and more! Full Story
By: Rick Ackerman, Ricks Picks - 21 December, 2006
GoldSeek founder Peter Spina has arranged for the inaugural chat-room session to be held tomorrow (Friday) at noon EST. During the first half of the planned hour-long session I will answer questions about stocks, indexes and commodities that you have e-mailed me in advance. You can do so by clicking here or by pointing your browser to the following URL: http://www.goldseek.com/chat.php. To actually enter the chat room for the real-time Q&A that will follow, you should pre-register by clicking here or by pointing your browser to this URL: http://www.goldseek.com/chat/. Full Story
Money, money, money. The world's got so much of it now – 8% more than a year ago and 40% more than it had five years ago – that finding a place to park it for decent returns gets tougher by the day. Full Story
Reginald H. Howe, plaintiff and litigator in the first federal gold price-fixing lawsuit and consultant to GATA, has studied the latest figures on derivatives in gold, silver, and commodities, as compiled by the Bank for International Settlements. He concludes that the Western central banks and their agents are using fewer forwards and swaps and more options to restrain prices. Maybe this is because the real goods are running out, leaving only paper to deceive the markets with. Full Story
We must realize and internalize the concept that precious metals (along with most hard assets) and the dollar are mutually exclusive categories. There is a dance currently being enacted with the partners being oil, the dollar, and the precious metals complex. This dance must be absolutely understood if we are to fully comprehend what is occurring in the world around us. 2007 will be the year that this dance speeds up as it evolves from a waltz to a full on jitterbug. Finally, remember, that all roads leading back to a strong America begin with a Strong Currency. Full Story
By: Mike Shedlock & The Daily Reckoning Crew - 20 December, 2006
-The next time you take a swing at the housing market, you might be saying, "FORE-closure"… -Highway bribery in the Indian parliament…Indian wine is more drinkable the previously thought… -I'll trade you this crumpled old dollar for your shiny new nickel…and more! Full Story
By: Sol Palha, Tactical Investor - 20 December, 2006
Russia’s move in rejecting all outside help for the development of the Shtokmas field is a small subtle but potentially dangerous long term warning signal to nations that are low in natural resources, especially to the United States which imports the bulk of its oil. Let’s take this move one step further. If a nation or for that matter certain companies start to feel that the price of the commodity is too low they can hold back on developing new fields or maybe even drastically cut down production in anticipation of much higher prices in the future. Full Story
By: Bob Chapman, The International Forecaster - 20 December, 2006
A good part of our government, the commercial and financial end is being run by Goldman Sachs and they will capitalize on their connections for years to come and have and will reap enormous profits at the expense of all Americans. Henry Paulson, former CEO of Goldman Sachs, led the Chinese charge to hopefully keep them from selling their dollar-based assets. As Person Gulf oil producers and Venezuela, Russia and other OPEC members and Argentina and Brazil sell their dollars. Full Story
The standard refrain is this: "Gold is an inflation hedge." The problem with this refrain is 1980–2001. Prices in general doubled, but gold’s price fell from $850 to $257. The only investment worse than gold was silver. Full Story
By: Richard Daughty, The MOGAMBO GURU - 20 December, 2006
Things economic are not making any sense at all anymore, and so I naturally deduced that is because I have committed another accidental "medication error", either by taking too many of these pills or too few of those, and the only smart thing to do was start over with a handful of each, and wash the whole thing down with some bourbon to get things really moving. I'm sorry to report that it didn't help; things are still strange, only more blurred. And kind of spinning around, too. Full Story
By: Adrian Ash & The Daily Reckoning Crew - 19 December, 2006
-Argentina's real estate is comparable to Paris's peanuts…long-odds payoffs are sometimes worth it… -The illegal drug market in Europe is taking a page from the "book of Wal-Mart" and rolling back its prices… -Governmental corruption is rampant in India…but Indian wine is not as bad as previously thought…and more! Full Story
I want to sound the alarm. The art of the gold standard may go the way of the art of making stained glass windows in Chartres. Calling the gold standard an art is no exaggeration. It achieves as high a degree of harmony in the affairs of man as any other form of art, in addition to being a pillar of economic science. Now this art and science has become and endangered species. Full Story
During last couple of years the big story in the resource sector has been that of the remarkable growth of China. Every sector, be it from base metals consumption to crude oil imports to the purchase of cotton and other agricultural commodities, has witnessed a monumental change due to the entry of China. So the question that comes to the mind is: Will India consume as much resources as China? After all both countries have comparable populations, both are in Asia, and both are growing at a surprising rate? Full Story
The US is insolvent. There is simply no way for our national bills to be paid under current levels of taxation and promised benefits. Our combined federal deficits now total more than 400% of GDP. Full Story
By: Rick Ackerman, Rick's Picks - 19 December, 2006
We’ve had our crosshairs trained on a 13045 Dow target since late September, convinced the blue chip average would get there come hell or high water. Now, a similarly outlandish target has emerged in Citi, until recently somewhat of a laggard in an otherwise very strong banking sector. Our precise objective for the stock lies at 64.73, a Hidden Pivot that’s about 9 dollars above yesterday’s settlement price. In percentage terms, Citi would need to rise by about 17% to achieve its goal. That compares with a rally of just 5% in the Dow to fulfill its 13045 projection. Full Story
By: The Mogambo Guru & The Daily Reckoning Crew - 18 December, 2006
-D.C. builders have begun selling houses like Wal-Mart sells soap…home ATMs not refilling as quickly as they used to… -If you've got $2,500, you're richer than half the people on earth - but Bill Gates is still richer than you… -The best way to feel rich and happy this Christmas season is very simple: just move to a very poor country…and more! Full Story
By: David N. Vaughn, Gold Letter, Inc. - 18 December, 2006
As the New Year begins soon both gold and silver will continue to offer investors promising gains for the long term. There is a lot of pressure now to drive the gold price under 600 as we enter the New Year as evidenced by recent price action, but gold is going to enter the New Year solidly entrenched above 600 dollars an ounce. Full Story
This paper is a rejoinder to a recent article by nearly the same title. The author may have meant well, however, there was some disinformation presented – as is usually the case when gold and silver and monetary theory are the topic de jour. We do not differ with the messenger – only with the message. We invite any and all replies. Full Story
By: Todd Stein & Steven McIntyre - 18 December, 2006
Webster’s defines “alchemy” as the “speculative philosophy practiced in the Middle Ages and the Renaissance concerned principally with discovering methods of transmuting base metals into gold.” Webster’s further defines “alchemy” as “any magical power or process of transmuting a common substance, usually of little value, into a substance of great value.” Alchemy, in a nutshell, is taking something that is abundant and trying to transform it into something that is scarce. While the laws of nature may have prevented medieval scientists from turning lead into gold, we do think a modern-day sort of alchemy has been working and is destined to succeed further. Full Story
By: Rick Ackerman, Rick's Picks - 18 December, 2006
With some key averages reaching record highs on Friday, the Dow Industrials have now come within 530 points of the 13045 target first broached here several months ago. I was incredulous then and remain so, but what’s a chartist to do when the technical indicators points unambiguously higher? For my part, I’ve simply stuck with a few mechanical indicators that have never failed me, holding my nose and averting my eyes as shares make ready to dive from an increasingly spectacular height. Full Story
By: Bob Chapman, The International Forecaster - 17 December, 2006
Goldman Sachs is at it again – rigging the market. A few months ago they changed gasoline’s weighting in its commodity index and gasoline plunged. Recently the stock market averages have been acting unnaturally vaulting higher without so much as any correction. This has been triggered by a mysterious reduction in margin requirements for an already over-margined hedge fund community that has cranked up the markets since October. Full Story
By: John Mauldin, Millenium Wave Advisors - 17 December, 2006
The stock market liked both the retail sales and the inflation numbers that were released over the last two days, with the Dow posting successive all-time highs. This week we look behind the headlines and a little deeper into those numbers to see if there is some justification for the exuberance, as well as offer some thoughts on valuation and the recent meeting of the Fed. And I know it will shock you that once again there is a change in the way the government collects its data. It should make for an interesting letter, so let's jump in. Full Story
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