By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 February, 2013
In the last five years, we have seen the start of the decline of the developed world and the real impact of the economic rise of China on that world. What lies ahead? James Wolfensohn, the ex-president of the World Bank gave a short lecture in which he forecasts what the world’s cash flows would be like in 2030. Full Story
By: The Gold Report and Donald Coxe - 22 February, 2013
Taking inspiration from George Orwell's "1984," renowned BMO advisor Don Coxe has coined the expression "Weakness is Strength" to describe the current economic situation. In a far-ranging interview with The Gold Report, Coxe explains how an international regime of weak currencies has set the scene for a upsurge in the price of gold shares and believes that gold will return as a preferred hedge against loss of value because inflation is inevitable. Full Story
My Rx for assurance that precious metals belong in your own hands---not in Treasury Department vaults---is to go get some bars and coins, sit back in your recliner, and savor them with eyes closed while listening to “Realeza” (“Royalty”) theme song of Alberto Del Rio, a Mexican athlete--- Full Story
I am going to say right up front that there is going to be quite a bit of sarcasm in this essay. I say this simply because of the ludicrous nature of our marionette-esque talking heads in the mainstream financial press in this country. They are truly amazing, taking molehills and making mountains out of them and vice versa. Full Story
All Investment Cognoscenti know that The Fed’s “Communication Policy” is aimed at Financial and Market Ends, not at Truth. (Here, should we rely on The Fed’s earlier expressed “Guidance,” or this week’s “Scaling Back” Hint? They can not both be True.) Full Story
By: Richard (Rick) Mills, Ahead of the herd - 22 February, 2013
Lately there’s been a lot of talk regarding currency wars. Let’s take a look at why competitive currency devaluations – currency wars – won’t accomplish what’s intended and why we’re going to have to see increasing U.S. protectionism (subsidies, tariffs etc.) regarding global trade. Full Story
By: Adam Hamilton, Zeal Intelligence - 22 February, 2013
Gold got crushed this week in what can only be described as a capitulation. Cascading selling took on a life of its own as the yellow metal knifed through multiple key support lines. Newsflow exacerbated gold’s free fall, as extreme fear tainted everything with a heavy pall of bearishness. Gold bears were euphoric, coming out in droves to pronounce doom on the metal. But capitulations are actually very bullish events. Full Story
Gold roller coaster seems to go on and on without an end. But what we have seen this week was more of a bungee jumping. However, at this time there seems to be no more room for further declines, as major support lines have been reached already or are about to be reached. Does this mean that we are close to the final bottom and that a strong rally will emerge soon? Let us jump straight into the technical part of today’s essay to find out – we’ll start with the yellow metal’s long-term chart. Full Story
After reading in the Fed meeting minutes the other day that some members of the central bank are having second thoughts about their ongoing $85 billion per month money printing program, it occurred to me that, since Congress has an $85 billion per year “sequester” problem, maybe these two should work together. Full Story
Since the end of December we’ve been writing about the coming bottom in precious metals. Our forecast for 2013 was to see a low in Q1 and then continued consolidation until the end of the summer in which Gold could be in good position to break $1800. That forecast remains largely intact, although it appears the mining stocks will bottom quite a bit lower than we thought two months ago and even five months ago. Three weeks ago we noted that a potential final bottom was on the way. After beating around the bush we are ready to say that now is the time to begin buying and we’ll show you why. Full Story
It would be fortunate for the western world, particularly the United States, if it were “merely” becoming a neo-fascist dictatorship. But since all life forces evolve, particularly those that are evil, the west is actually experiencing something far more pernicious: namely, a banksterist dictatorship, which is en route to something even worse. Full Story
Rudi P. Fronk, Chairman and Chief Executive Officer, has over 30 years experience in the gold business, primarily as a senior officer and director of publicly traded companies. From 1999 until June 2012, Mr. Fronk served as President and CEO of Seabridge Gold. Prior to Seabridge, Mr. Fronk held senior management positions with Greenstone Resources, Columbia Resources, Behre Dolbear & Company, Riverside Associates, Phibro-Salomon, Amax, and DRX. Mr. Fronk is a graduate of Columbia University from which he holds a Bachelor of Science in Mining Engineering and a Master of Science in Mineral Economics. Full Story
By: Eric Coffin, HRA Advisories - 21 February, 2013
Six weeks into the new year and there is still no joy for junior resource traders. In the large markets there has been plenty of good news, with several exchanges hitting multi year highs. In our little corner of the market however, gloom predominates. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 21 February, 2013
A friend, C.S., wrote to your secretary/treasurer today asking for comment on the beating gold has taken in the last few weeks. Your secretary/treasurer is no market analyst but couldn't leave her hanging and so offered the following. Full Story
My message lately has been very simple: buy low. And do it now.The essential formula for investing, as you know, is to buy low and sell high. Full Story
These deposits aren’t about people taking cash out of mattresses and depositing it in the banks. This story should not be about the banks not lending, because that’s not true. They are. They have been growing loans at a measured pace between 3.5% and 5% a year since 2011. That is absolutely consistent with the growth of the economy, and dare I say, the potential growth of the economy. The story is not that loan growth is not keeping up with deposit growth. It’s that deposits are growing too fast for the economy. That’s dangerous, and the Fed is directly responsible. Full Story
By: Peter Schiff, CEO of Euro Pacific Precious Metals - 21 February, 2013
In a new, exclusive video on the gold market, Peter Schiff responds to skeptics who claim gold’s bull run is over. Many believe the economy is improving and therefore that gold’s rise has ended. However, Peter explains why the longterm fundamentals for gold have never been better, and how investors still have time to take advantage of gold’s temporary decline. Full Story
These are stressful days for those holding gold bullion and gold stocks. Sentiment in the gold sector has turned quite negative. Sentiment is at or close to the lows seen at the bottom of the market in 2008 and below the levels seen in seen in December 2011 and May 2012. To put things in some perspective since the depths of the 2008 financial crisis gold is up 132%, the TSX Gold Index is up 68%, the TSX Composite is up 70% and the S&P 500 is up 128%. However, if one goes back to 2000 and the top of the stock markets the S&P 500 is flat, the TSX Composite is down roughly 17%, gold is up 475% and the TSX Gold Index is up 150%. It all depends on where one is in time. Full Story
IT IS IN YOUR SELF-INTEREST TO OWN GOLD AND SILVER! This may not have been true from 1982 – 2000, but it definitely is true today and will be true as long as central banks are aggressively monetizing debt (“printing money”) and devaluing their currencies. Full Story
By: Jeff Berwick, The Dollar Vigilante - 21 February, 2013
Nietzsche was right. If you sat beside Ben Bernanke in his Washington Nationals box seats while he slurped on his ice cream cone and you had a general conversation with him, he probably wouldn’t come across as being insane. “That was a nice home run,” he’d say. You’d nod. But it is people like Bernanke who believe in collectivist systems and top-down economics who are insane. Full Story
While the mainstream media continues to spew out bearish news and headlines on precious metals and (especially) mining shares, SAC Capital Partners LP, a $20 billion dollar group of hedge funds founded by Stephen A. Cohen, quietly positioned itself in over $240 million dollars worth of gold, silver, and mining share investments during Q4 2012. Full Story
Stocks tumbled by the most in three months yesterday after news that Federal Reserve members are divided over the effectiveness of money printing through QE. The markets reacted as though the inflation of stock prices would stop the moment the Fed turns down the money presses. Full Story
By: Rick Ackerman, Rick's Picks - 21 February, 2013
Is it Katie-bar-the-door-time in gold? We seriously doubt it, although we wouldn’t blame bulls for feeling despondent after yesterday’s sharp decline, the second in a week. The April Comex contract plummeted to an intraday low of 1558 before reflexive buying provided a so-far modest bounce in after-hours trading. The good news is that the low was pretty close to a trendline that just about every gold trader on earth must have been watching. With such a devoted following, it’s hardly surprising that this technical support was breached marginally, presumably to put the fear of the lord in wanton speculators. Full Story
A death cross is a crossover resulting from a security's long-term moving average breaking above its short-term moving average or support level. Additionally, the long-term moving average becomes the new resistance level in the rising market. In layman’s terms this implies that gold's long term bull run is over and that it could be in a bear phase. Full Story
By: The Gold Report and Jay Taylor - 20 February, 2013
According to the calendar, it is still winter and gold markets still face some tough sledding, says Jay Taylor, host of the radio show "Turning Hard Times into Good Times." Big investors are leaving the market and small investors hesitate to reenter. But in this interview with The Gold Report, Taylor points to some spots where selective investors can find value and growth potential. Full Story
What happens when you mix politicians, bankers and private "retail" investors...? I AM REMINDED of this story by Vince Cable. The UK's Business Secretary seeks to offload the British government's shares in Royal Bank of Scotland (RBS) by giving them to something like 30 million British taxpayers. Full Story
By: John Mauldin, Millennium Wave Advisors - 20 February, 2013
So it looks like the Irish will pay after all. Except that when you read the details, the Irish (after a great deal of controversy ensues) will end up either not actually paying or not paying anything close to the value of what they borrowed. So how can they both pay and not pay? That is the topic for this week’s letter; and an instructive reading it is, not for what it tells us about Ireland but for what it tells us about the EU, the eurozone, and the future of the euro. Full Story
Who fares better in retirement, pensioners or folks who saved up their own respective nest eggs? If you look at the numbers, you might be surprised to learn who's really "living large" after retirement. Regardless of how you made your money, what determines if you're rich when you retire? Frankly, it isn't how much money you made, but how much you accumulated that counts. So who are the real rich people? Full Story
As you can see, the US’s banking system is in fact dramatically smaller relative to its GDP than the big players in Europe. As much grief as I and others have given our financial system about being overleveraged and filled with toxic debts, the US is NOTHING compared to Europe, including the allegedly rock solid banking system of Germany. Full Story
For months and months now I've been warning traders that QE3&4 were going to have a major effect on stocks. I knew that analysts claiming each new QE was having less and less affect would not apply to this latest round of quantitative easing. Full Story
Not everyone is a morning person. And few people like Mondays. But if you're a precious metals investor, mornings – especially Mondays – are brutal. The precious metals are routinely sold off at or soon after the 8:20am EST morning open of the New York NYMEX exchange. Below are the daily gold price charts (source: Kitco) for each Monday (or Tuesday, if Monday was a holiday) since early this year. The current day's gold price is noted by the bright green line. The morning takedown is highlighted by the orange oval. Full Story
A curious thing happened last week. The prices of both monetary metals have been falling for a week and a half through February 15. No, that’s not the curious part. There is no law of nature that says the prices have to go up, but if they go down it must be artificial somehow. The curious thing is that the price fell while open interest in futures rose, which is not typical of how the market has actually been behaving in recent years. Full Story
We haven’t looked at the US Dollar in awhile so lets see what it’s been up to in the last month or so. The first chart I would like to show you is a weekly bar chart of the H&S top pattern that everybody is focused in on at the moment. It does have nice symmetry to it and looks like the real deal. Please note the blue 5 point triangle on the right side of the chart where the current price action is strongly testing the top blue rail. Full Story
Currency Wars will most importantly play out at the heart of investors’ portfolios rather than in the blogosphere or on TV. While the focus may currently be on Japan’s efforts to weaken the yen, U.S. investors might be particularly vulnerable. Let me explain. Full Story
With US stocks hitting another high yesterday it is harder and harder to be a bear, and yet logically the end of the rally must be coming closer with each new advance. We remember how the Nasdaq felt like this in November 1999 and yet only finally crashed in March 2000. Momentum is one thing, business economics are another. Full Story
Gold dipped below $1,600 last week, falling to a six-month low, much to the chagrin of gold investors. I find the timing of the correction peculiar, given the G20 Finance Ministers Meeting taking place over the weekend. There’s been a growing debate over Japan’s move to devalue its currency to stimulate growth, with reaction from the G-7 leaders stating that “domestic economic policies must not be used to target currencies,” reports Reuters. Full Story
Based on last week’s trading activity and my contrary opinion theory, I feel that we are seeing what is called a “weak hands clean out” of small investors in the Gold and Silver markets, and that Gold will continue its twelve year record of gains in 2013. Since 2011, the Gold price has consolidated in the $1,525 to $1,920 per ounce area and is ready to breakout. I would not be surprised to see Gold move back above its 2011 high of $1,920 per ounce, and see Silver above $40 per ounce in 2013. Full Story
By: Jeff Clark, Casey Research - 19 February, 2013
Most precious-metals investors know that silver is more volatile than gold. But do they know just how big that difference really is? We thought it would be interesting to measure how much greater silver's daily moves are – both in gains and declines – than gold. Full Story
When we go to a retail store here in the United States of America, we accept the price which is posted for the product as the final price in most cases. And because of this retail phenomenon, we have come to accept in many cases the price quoted as the final price. So it is that many are not accustomed to thinking about where the price comes from. Full Story
It appears ever since the world’s top money managers, crony capitalists, and corrupt politicians were in Davos again for the annual World Economic Forum increasing numbers are catching on to the fact the ‘big risk’ moving forward is likely to be ‘currency wars’, which unfortunately most common people will not understand. They don’t understand the term ‘currency wars’ is plutocratic double speak for ‘currency debasement wars’, more often referred to as money printing. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 19 February, 2013
As the global currency war intensifies, the majority of attention has been paid to the 17% fall of the Japanese yen against the U.S. dollar over the past few months. The implosion has given cover to the sad performance of another once mighty currency: the British pound sterling. But in many ways the travails of the pound is far more instructive to those pondering the fate of the U.S. currency. Full Story
Staring all day long at the supposed “super top” head and shoulders pattern in place on the HUI index is a good way to create fear, but I doubt it will create any lasting wealth. It certainly won’t build any gold mines. Markets are ruled by fundamentals, not charts. The largest institutional liquidity flows occur when key fundamental reports are released. Fundamentally, gold stock investors need to focus on the history of quantitative easing. Full Story
The thing that got people concerned is the decline in demand and in particular the decline in the investment demand. First, let's take a closer look at the decline in total demand. The key point here is that it's not the first time that we see a y-o-y decline in demand. We saw the same in 2006 and in 2009. Guess what price did in the following years - 2007 and 2010? It rallied strongly in both cases. Full Story
By: Steve Saville, The Speculative Investor - 19 February, 2013
The financial markets have begun 2013 in remarkably similar fashion to how they began 2010, 2011 and 2012. In each of these preceding three years the average market participant became optimistic about global economic growth during the first quarter, leading to weakness in gold relative to the industrial metals. Here we go again. Full Story
Show Highlights: Guest Interviews. Headline news & the Market Weatherman Report. Host answers phone calls and email questions. Guests: David Franklin, CEO, Sprott Private Wealth Richard Daughty, The Mogambo Guru Report Full Story
By: The Gold Report and David Baker - 18 February, 2013
Mining companies have lost the trust of investors, says David Baker, managing partner at Baker Steel. Baker sees the gold market as at a watershed point and the miners must change to stay afloat. In this interview with The Gold Report, Baker sets out his prescription for nursing the industry back to health. Will the restrictions his company and other investors are putting on gold companies increase reporting clarity, investor trust and money earned? Full Story
The Federal Reserve is creating $85,000,000,000 per month of new money to purchase toxic waste (mortgage-backed securities) from banks, support foreign banks, and to purchase US government treasury debt. This assists (bails out) banks, keeps interest rates low, and helps enable the government to continue excessive spending. Full Story
In this final Part V, we look at the economics of Real Bills (or “Bills” for short). In Part IV, we noted that a Real Bill is credit that is not debt, so let’s start here. The Real Bill is credit provided for clearing, without lending or borrowing. It is different than a bond. To review the bond, in Part III we showed how it arises out of the need to save. People must plan for retirement and senescence during their working years. Full Story
Platinum (Pt) and palladium (Pd) are the two most commonly used of the six platinum-group metals (aka platinoids), which also include rhodium, ruthenium, iridium, and osmium. As a group, these metals are rare in the Earth’s crust, silvery-white, malleable, and dense. They are highly resistant to wear, oxidation, and corrosion, have stable high-temperature and electrical characteristics, and exhibit catalytic properties. Full Story
Governments have refused to accept the necessity of a period of economic re-adjustment following the credit-bubble. The bubble burst about five years ago and economic progress has been effectively suspended ever since. The consequences of this refusal to accept reality are at a minimum to make this adjustment unnecessarily drawn out and needlessly painful, without offering a better eventual outcome. Full Story
Silver to Gold Ratio Today: 54:1 Silver to Gold Ratio Ten Years ago: 80:1 Silver to Gold Ratio for over 200 years: 15:1 Silver to Gold Ratio expected in the future: 10:1 or even 5:1 Full Story
If this is the best that the Precious Metals sector can do when the broad market is rising, as it has been, then what is likely to happen when the broad market drops? This is the question that is, or should be, exercising the minds of investors or would be investors in the sector right now. Today we are going to address this issue head on. Full Story
The financial press is tossing the term “currency war” around with more abandon than partiers circulating punch at a New Year’s bash. Most commentators tell us we’re having such a war right now, though at least one denies it. James Rickards has published a book on the subject that’s become a hot seller. So what exactly is a currency war and why are nations engaging in it? Full Story
We had a very quiet week all in all in terms of the markets and most stocks with some moving well but many failing their moves higher. The volume absolutely dried up this past week with Chinese New Year in full swing as I warned about last weekend. Gold and silver were absolutely hammered back to strong support levels as a result of no Chinese buying. It’s no fun, but it’s great if you are a bargain hunter with gold and silver on sale here now. Full Story
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