By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 March, 2013
Gold bounced off $1,560 a target that it had held for the last year and more. It consolidated at $1,580 and has now tackled $1,600.The bounce was off the long-term trend line. While resistance in the higher $1,600 area could be formidable a look at the reasons why it fell through support at $1,650 is worthwhile. Full Story
By: The Gold Report and Jamie Mackie - 22 March, 2013
While Jamie Mackie, senior vice president and investment adviser with Macquarie Private Wealth, thinks the mining sector could sink further, he also believes now is the time to buy, carefully. In his first Gold Report interview, he discusses strategies to mitigate junior mining risk. Full Story
By: Adam Hamilton, Zeal Intelligence - 22 March, 2013
The loathed and left-for-dead gold miners look to have begun their usual spring rally. This sector has actually exhibited strong seasonality for its entire secular bull. For well over a decade, most years have enjoyed a major gold-stock rally between mid-March and early June. These favorable seasonals are a welcome tailwind for a sector that is radically undervalued fundamentally and overdue to explode higher. Full Story
A Climacteric began in the International Economy and Markets last week. Its Ramifications have not been widely acknowledged. It provides Great Opportunity and Great Risk. Moreover, this Mega-Development signaled that a Great Opportunity Window is beginning to close. And it signaled loud and clear that The Great Danger of which we have earlier written is approaching ever nearer. Full Story
Some of you may remember the unforgettable title of the 1999 financial best-seller, Dow 36,000. It made a lot of waves back during the heyday of the internet stocks and day trading, but unfortunately for the authors, the timing of the book’s release was less than ideal. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 22 March, 2013
There’s good news and bad news. First the bad news, consumers are going to be paying more for their very basics of survival because of a continuing price rise, across the board, in commodities. The good news is you are being presented with an opportunity to get into commodity investing ahead of the herd. There are compelling reasons, and likely profitable ones, for an investment into commodities via junior resource companies at their current lows. Full Story
Yesterday was a very good day for gold. Today is a “not so good” day–they seem to be alternating. But the big picture is encouraging. It suggests that gold should be about to embark on another major upleg. Here’s the evidence. Full Story
After the shot across the bow in 2008, you might have expected that regulators and market participants would use the experience to change for the better, to become more prudent, and to reduce the sorts of risky behaviors that almost crashed the entire system. Full Story
Cyprus lawmakers this week rejected a controversial euro bailout package, which would have set a dangerous precedent by taxing ordinary bank depositors to pay part of the bill. How will it imply the stock market? Will it make platinum any less appealing – especially relative to gold? Let’s take a look. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 22 March, 2013
Martin Sibileau, an executive with a big investment firm in Toronto and author of the market letter "A View from the Trenches," last week completed a three-part series of essays about gold market manipulation. Full Story
As the Cyprus drama and other macro events play out and distort normal macro economic signals to varying degrees in the short-term, let’s review the ‘real price’ of counter-cyclical gold vs. the cyclical industrial metals. Full Story
The silver market is increasingly becoming an exercise in contradiction. On one hand, the silver spot price has disappointed thus far in 2013, falling from the low-thirties in early January down to its current level around US$29.00/oz. Given that price direction, one would be forgiven for assuming that the silver ETF's had experienced outflows over that time - but they have not. Full Story
By: The Energy Report and Marin Katusa - 22 March, 2013
Tough markets have the average investor crying uncle, but now is not the time to lament losses—it's time to bargain shop, suggests Marin Katusa, senior editor of Casey's Energy Dividends. China is snatching up energy prospects around the world in anticipation of ever-tightening oil markets. Meanwhile, there is already money to be made in international markets where consumers are paying double the price for U.S. natural gas. Full Story
One of the more fascinating reminders of what may be to come for the remainder of this gold bull market, is the charted history of the dow/gold ratio. Below are two charts illustrating the upward potential in gold which remains for the duration of this market. Full Story
Our title seems obvious. We all know that the US$ tends to be negatively correlated with commodity prices. This is true in the short-term but not always so over the long-term. The US$ index is currently nearing 83. It’s at the same level it was in 2007 when Gold was trading in the $600s and the CCI (currently 554) was trading near 400. The US$ index is near the same level it was at the end of 2005 when Gold was trading below $400 and the CCI was trading below 300. Full Story
Our savings and retirements are at risk when we invest them based on beliefs that may be incorrect. This is one of many reasons why people buy gold and silver – for insurance against unexpected events. What if our perception of financial reality is incorrect or if we are ignoring financial reality? Ayn Rand said it best, “You can ignore reality, but you cannot ignore the consequences of ignoring reality.” Full Story
We’ve told subscribers to expect the broad averages to drift lower as long as the Cyprus annoyance persists. The Dow did indeed fall yesterday — by nearly 100 points — raising the question of when a drift would officially become a rout. Not yet, for sure. Nor could it, in our estimation, unless the affair takes the sort of catastrophic turn that few seem to expect. Full Story
This week, after several weeks of what felt like economic limbo, we have had a fairly eventful one. Thanks to all the events, but mainly Cyprus, gold is now headed for its biggest weekly rise in nearly 4-months as the bulls return to the market. Full Story
The Fed is holding true to its word, continuing to buy treasuries and keeping in place its employment targets. Chairman Bernanke said on Wednesday that the Fed will continue to target the unemployment rate, looking for ways to get it down toward 6.5% from its current level of 7.8%. The Chairman stated that the Fed is watching the economy in many ways, but refused to get caught up in discussion on the metrics of when a downtrend in unemployment would be strong enough to signal the beginning of unwinding of its QE program. Full Story
By: Gary Dorsch, Editor, Global Money Trends - 21 March, 2013
Whether you live in Cyprus, England, Japan, the United States, or elsewhere, the battle for financial survival is taking on new dimensions. At issue is the steady dilution of the purchasing power of money that is perpetrated by the world’s central banks, and worries about confiscation and taxation of monies by government authorities. Even the giant Multi-Nationals, that stashed trillions of dollars in offshore tax havens, are feeling a bit uneasy about reports that the G-20 plans to crackdown on their money laundering schemes in the future. Full Story
The developed world has now become a fully operational Something-for-Nothing society. Once a Something-for-Nothing psychology has been fully implemented the majority of its citizens have become the functional equivalent of LOCUSTS! Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 21 March, 2013
This week financial analysts, economists, politicians, and bank depositors from around the world were outraged that European leaders, more specifically the Germans, currently calling many of the shots in Brussels and Frankfurt, could be so politically reckless, economically ignorant, and emotionally callous as to violate the sanctity of bank deposits in order to fund a bailout of Cyprus. The chorus of condemnation may have been the deciding factor in giving the Cypriot parliament the confidence to unanimously vote down the measures in hopes that Berlin will cave or Russia will swoop in with a bailout. Full Story
Several readers have asked why I use CDs in so many examples. With good reason, they wondered if I was suggesting buying CDs, which made them question my wisdom and sanity. If anyone thinks that's what I'm recommending, I must have been remiss in conveying my message. Full Story
So what are you going to do? Are you going to place your faith in the "authorities" like Mr. Drake did? Will you wait for them to rape and pillage you? Or are you going to take matters into your own hands. It's time to take responsibility for yourself and your loved ones. The Government and the Banksters ain't gonna save you. And if you think what happened in Cyprus this weekend is a "one-off" and it can't happen to you - even if you're outside the Eurozone - think again. Full Story
With all the scorn and indignation over the IMF and ECB’s attempt to steal anywhere from 9.9% to 15.6% of all Cyprus bank accounts in excess of €100,000, and with this anger certainly justified, one would think that people’s scorn over banker theft via inflation, since this mechanism of banker theft has been executed at exponentially higher rates over the past several decades, would have bordered on blind rage. Full Story
By: Jeff Berwick, The Dollar Vigilante - 21 March, 2013
The events in Cyprus in the last week may have been the linchpin that sets off a complete collapse of the Euro Zone and even, by extension, the entire Western financial and banking system should enough panic set in. Dollar vigilantes are ready for this, but many in the world are just waking up to the fact that the entire Western financial system is a house of cards underpinned by nothing but debt and only propped up in the last few years by massive amounts of money printing. Full Story
On March 5, 2013, Hugo Chávez, one of the most iconic presidents in the world, died at the age of 58. While he was alive, Chávez was a highly controversial figure, calling George W. Bush a drunkard and a "psychologically sick man" and Tony Blair an "imperialist pawn who attempts to curry favor with Danger Bush-Hitler." Full Story
The collapse of Northern Rock took a lot of people by surprise, including the bank's management. But looking back, the monthly scramble to top the Best Buy tables was symptomatic of a seat-of-the-pants business model that ultimately came unstuck. I am reminded of all this, more than half-a-decade later, by the closing of banks in Cyprus and these comments from an analyst at Italian bank UniCredit... Full Story
By: John Mauldin, Millennium Wave Advisors - 20 March, 2013
This week’s letter will be a very short part of a book I am writing with Bill Dunkelberg (the Chief Economist of the National Federation of Independent Businesses) on the future of employment. It has taken longer to write than I initially anticipated, for a host of reasons, chief among which is that the future is not as obvious as I originally thought. Diving into the data has brought a few surprises. Full Story
Now that Cyprus has revealed that deposits are not safe in Europe, you better buckle up because the bank-runs are coming. And when they do, the European Crisis will hit overdrive. Once deposits flee, banks have to sell assets to meet the capital flight. When banks have to sell assets to meet deposit flight, they need capital. And European banks don’t have any extra capital. They’re leveraged at 26 to 1 and would need to raise over €1 trillion AT LEAST. Full Story
By: Eric Sprott & Shree Kargutkar - 20 March, 2013
The past few months have been difficult for the gold investor as selling pressure in the gold futures market has set a decidedly negative direction for the price of the yellow metal. As fundamental investors, we always pay special attention to the supply and demand dynamics of gold and, recently, we have found it very difficult to reconcile lower prices with continued strong demand for physical gold. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 20 March, 2013
Sprott Asset Management's Eric Sprott and Shree Kargutkar today report that their study of 22 years of international trade data suggests that the United States has exported almost 4,500 tonnes of gold beyond the country's supply capability. Full Story
Most start-up companies are founded on an idea, unbounded enthusiasm, hard work, and luck. Without luck or exceptionally deep financial wells, most of them fail. There is a bon vivant spirit within the workplace, like everyone is contributing to the establishment of something great; and everyone participates in the flair and the excitement in the air. Huge sale-commissions are part of the mix; expert managerial techniques usually are not. The name of the game is market share, market share, market share for companies based in new fields or on new ideas, particularly in high tech fields. Full Story
By: John Browne, Senior Economic Consultant at Euro Pacific Capital - 19 March, 2013
On March 13th, the Commerce Department announced a 1.1 percent increase in food and services retail sales, doubling a prior Dow Jones survey of economists that forecast an increase of just 0.6 percent. This new data has led to a fresh wave of enthusiastic commentaries that the US economy is set for a strong recovery. Less examined were the underlying factors that supported the increase. Full Story
YOU'D THINK that with all this practice, politicians would know how to handle a banking crisis by now. Most especially in the Eurozone. But no. Five years since Bear Stearns hit the skids (the anniversary was Monday) the Cypriot mess is such a mess that people elsewhere feel the urge to say that "it couldn't happen here." Full Story
So we just need to follow the money. In spite of all the noise about the Fed potentially “losing money” in recent weeks, that will not constrain its ability to print money in the months ahead, and that’s the only thing that matters for now. Full Story
Some people see insurance as an investment, especially insurance-like products like annuities. Dennis recommends readers stick with buying insurance for covering what it’s supposed to cover, like catastrophic events or even untimely death, and carefully review the individual parts of any combination products. Full Story
Hedge funds have been exiting the gold market, and shorting it. Most of the bearish analysis is based on forecasts of crashing investor demand. Many analysts are claiming the gold bull market is over, and you should sell all your holdings. I disagree. So does Merrill Lynch. “Our data shows that to sustain gold prices at $2,000/oz by 2016, investors need to purchase an amount of gold similar to that purchased in 2008, when prices hovered around $872/oz.” -Merrill Lynch, quoted by Investing.Com, March 17, 2013. Full Story
Summing up, we continue to have a bullish outlook for the yellow metal. The yellow metal remains above key support lines from both the USD and non-USD perspectives. We also saw a breakout for gold priced in euro this week, and it seems that the final bottom for recent declines may already be in for the precious metals. In case of the speculative capital, having a stop-loss order “just in case”, is still suggested, though. Full Story
When we called the euro the potential “rock star of 2013”, we knew it might be a rocky ride. Are we underestimating the incompetence of policy makers? The Europe that is shaping up is much like the old Europe, with implications for the dollar, the euro, and investors’ portfolios. Full Story
By: Steve Saville, The Speculative Investor - 19 March, 2013
During the six months since last September's introduction of "QE3", the Fed has grown its balance sheet by $341B by monetising (buying with money created out of nothing) mortgage-backed securities and Treasury securities. Moreover, $201B of this $341B increase has occurred over the past two months. Full Story
If you want to buy and sell easily without taking delivery of actual metal, then perhaps you should invest in an ETF (Exchange Traded Fund) for gold and silver. The fees are minimal; ETFs are convenient and good for frequent trading. The two most popular are GLD and SLV. They are also criticized by many analysts, so I encourage you to also consider PHYS, PSLV, GTU, and others. Full Story
By: Jeff Berwick, The Dollar Vigilante - 19 March, 2013
The emergency bank holiday in Cyprus has been extended through Tuesday and Wednesday in what as far as the team at Dollar Vigilante has researched, will be the longest emergency bank holiday in Europe or North America since the Second World War. Full Story
Goldman Sachs called the Cyprus bank bailout a big deal, according to someone who posted in the Rick’s Picks chat room yesterday morning. Whether true or not, as far as Wall Street is concerned the bailout and the punitive measures it will bring against depositors barely even merited a yawn. The Dow Industrials fell a meaningless 62 points yesterday in response to the news. The close was up sharply from overnight lows that equated to a 180-point drop in the blue chip average. Full Story
Cyprus's announcement that it intends to apply a ‘haircut’ to domestic bank depositors has driven credit spreads wider and spooked the markets. Despite a population of fewer than 1 million and an economy equal to 0.2% of the Eurozone's GDP, the decision has caused major gyrations in financial markets today and may change the face of banking across Europe. Full Story
US monetary policy makers have enjoyed a Goldilocks environment since they began the most intense phase of inflationary monetary policy, which we will define as post-Operation Twist, beginning in January of 2013. Goldilocks held sway because of a lag in inflation’s rising cost effects in the transition from economic contraction to economic expansion. Full Story
By: The Gold Report and Robert Cohen - 18 March, 2013
Robert Cohen, lead portfolio manager with Dynamic Funds, has been kicking up dust at conferences and in board rooms with his "revolutionary and simple" idea that gold mining companies should hold gold on their balance sheets and use gold-based loans. But the idea is gaining traction and he suggests in this Gold Report interview from the Prospectors & Developers Association of Canada conference that management teams and investors alike would do well to question their use of U.S. dollars as a functional currency. Full Story
For long time readers of my work, this subject matter will not be new. However, we will be taking it one step further this week in attempting to construct a ‘playbook’ for sentiment related conditions that will finally be sufficient to break the stranglehold presently suppressing precious metals. I say ‘suppressing’ because although currency debasement rates are definitely not what they were back in 2009 when precious metals were discounting previously unheard of gains; but still, they are sufficient to warrant ‘proper perspective’ on the subject – and not the ‘falsehoods’ fed to us via the mainstream media and central authorities on a daily basis. Full Story
Friday was the Ides of March. In January based on our Fibonacci Ellipses as published in "Beware the Ides of March" , we forcasted that the S&P 500 would rise to 1562 on March 15th, 2013. The result on the Ides of March was 1563.62. Clearly our little practiced tool of Fibonacci Ellipses must be reckoned with! Full Story
Today I would like to show you the Chartology of the US Dollar based on charts from the short term to the very long term that are painting a positive picture for the US Dollar. What I’m seeing on the charts is not going to be just a short term event type thing but a longer multi year positive change for the dollar. Full Story
Many of us are aware of Professor Laurence Kotlikoff of Boston University’s calculation that the net present value of the US Government’s future liabilities rose by $11 trillion in fiscal 2012 to $222 trillion. These are principally welfare, healthcare and social security costs. Full Story
Cyprus has been in desperate need of a bailout, and was in discussions as early as June last year. They asked for an amount of money roughly equal to their annual GDP (for comparison, this would be about $15 trillion in the US!) The question is how did Cyprus arrive at this end of the road? Full Story
In the slow motion train wreck, which is the gradual disintegration of the Euro, the only thing that never ceases to amaze me, is the determination of the bureaucrats to create perpetual crisis. Despite all of the indecision and lack of cohesion on strategy, nothing like Saturday’s Cypriot bailout had seemed possible. Full Story
With the Dow Industrials trading at record heights last week, Wall Street and its news-media shills boldly ratcheted up the hubris to levels unseen since the dot-com bubble popped exactly 13 years ago. All news is good news these days, it would seem — especially fraudulent employment data spun to suggest that boom times are about to return to the U.S. As far as we’re concerned, however, the real news is in Cyprus, where the latest eurobank bailout perfectly describes the sort of seemingly minor trouble that could cause the global financial system to implode overnight. Full Story
Buried among the weekend news stories, the battle for the few remaining NCAA basketball slots, and the new Pope’s shoes is a growing crisis on a small island far removed from mainstream America. Perhaps at first glance one might wonder why I am even spending the time covering this developing story. After all, Cyprus is just a little island nation of around a million people and our Congress borrows more money in one day than the GDP of Cyprus for an entire year. What relevance could the goings on in Cyprus possibly have to do with the mightiest nation on Earth? Full Story
Depositors who are waking up to find that up to 10 per cent of their bank accounts in Cyprus have been confiscated as a part of a European Union rescue operation are unlikely to leave their money in the country because of the risk of it happening again. ATM machines have already emptied on the Mediterranean island in a bid to drain accounts. All electronic money transfers have been stopped. Full Story
Federal spending once again dominated the debate in Washington last week, as House Republicans and Senate Democrats began work on their ten-year budget plans. Contrary to claims, neither party’s budget reduces spending. While the Republican plan increases spending a little less than the Democrat plan, it would still spend $5 trillion in 2023, an almost two trillion dollar increase over this year’s budget. Full Story
Yi Gang, Vice Governor of the People's Bank of China (PBOC), recently made the headlines with his comments on Chinese gold reserves. On Wednesday, Mr. Yi stated that China's gold reserves remain static at 1,054 tonnes, and suggested that a sizeable increase in those reserves would be unlikely in the future. "We need to take into account both the stability of the market and gold prices," Mr. Yi stated, adding that as the world's largest gold producer and importer, China produces about 400 tonnes of gold annually, and imports an additional 500 to 600 tonnes of gold every year. Full Story
By: The Gold Report and Eric Lemieux - 17 March, 2013
It's been years since Quebec had a big discovery. Eric Lemieux, a mining analyst with Laurentian Bank Securities in Montreal, believes the province is overdue. Mining-friendly infrastructure policies like Plan Nord could give Quebec the push it needs, but the return to power of the Parti Quebecois has affected some projects and general market sentiment. Lemieux tells The Gold Report how to prosper if the Parti Quebecois swings back to mining-positive policies as he cautiously predicts. Full Story
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