Chairman Bernanke has placed himself in a box. It is not a box of his choosing, but rather the result of his misguided economic beliefs, use of flawed statistical data, geo-political events occurring during his watch, poor decisions and a penchant for political pandering. Some of these may be requirements for academia success but not for leading global financial markets during turbulent times. Full Story
SO WHAT'S different about gold at $1500 per ounce...? Nothing. Absolutely nothing. There's no more or less of it in the world today than there was a day or a week ago, and very little more than a month ago. There's barely 15% more today, in fact, than there was a decade ago at $270. Full Story
Silver continues its powerful and relentless move higher. From August 2010 until now this is the biggest rally during this silver bull market that started early last decade. Silver has also been the star performer of the financial world over the past year as you can see on the graph below. Full Story
Over the past three days the price of silver has jumped from $42 to $46 an ounce, while gold has moved up from $1,480 to $1,507 at the time of writing. That is approximately a six per cent gain for silver and two per cent for gold. Full Story
In my last report dated April 7, 2011 I mentioned that silver had taken over the role as leader in the precious metal market. That observation was nothing really new from a historic perspective. Silver took over leadership in 2008 when world economies came to their knees. Looking back, the events back than set in place events that have driven gold-silver ratio to where it is today. As I’ve mentioned in previous reports, silver has been seen as the “poor” man’s way to play precious metals. Today the men that played it don’t look so poor. Full Story
When the price of Comex gold futures kissed a record high $1,500/oz. Tuesday before settling back to the high $1,400s at day's end, and then topped the benchmark in early trading Wednesday, the smack sounded a lot like "I told you so." The Gold Report's expert contributors explain what this milestone means for investors going forward. Full Story
By: Rick Ackerman and Tom McCafferty - 21 April, 2011
I alluded here earlier to a class of investable assets with the potential to grow in value more spectacularly, even, than gold or silver. In the guest commentary below, my friend Tom McCafferty, a commodity trader and author of numerous books, makes the case for Canadian farmland as the best place to sock away money for your grandchildren. Full Story
By: Chintan Karnani, Insignia Consultants - 21 April, 2011
In the month of March 2011, I had injured my right ankle and right leg’s thumb. I was advised by the doctors to take a three week rest. I did not go the office. I just worked from bedroom. I reduced my work hours to just seven hours to eight hours day (from the normal twelve hours to fourteen hours a day). Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 20 April, 2011
The attention of the gold world was grabbed by the action of a the University of Texas Investment Management Co. that switched their gold investments to bullion and actually took delivery of around 20 tonnes of gold in the form of 6,643 gold bars, worth $987 million. It is now stored in a bank warehouse in New York. This event was treated as remarkable in the United States. Full Story
For many months now I've been warning we were going to have a dollar crisis and that dollar crisis would drive the final leg up in gold's ongoing two year C-wave advance. We are now on the verge of the panic selling stage of this three year cycle. Full Story
The Hera Research Newsletter (HRN) is pleased to present an in-depth interview with Jim Sinclair, Chairman and CEO of Tanzanian Royalty Exploration and founder of Jim Sinclair’s MineSet, which hosts his gold commentary as a free service to the gold investment community. Full Story
Handing the State yet more of your earnings to set aside for your pension cannot really end badly, can it? Because if it does hit any hiccups – such as, say, the part or whole seizure recently seen in Hungary, Poland, Bulgaria and France – you can always get tapped for a third scheme, just to keep things ticking over. Full Story
By: Bob Chapman, The International Forecaster - 20 April, 2011
Many banks are insolvent, yet are allowed to stay in business. Being allowed to keep two sets of books is obscuring their real estate loan problems. This is the shadow inventory you sometimes hear about. Those millions of homes “that exist, but they don’t.” They presently admit to owning some 1 million homes they cannot sell, which is almost 25% higher than last year. Full Story
I have set up a free website for people who are deep in consumer debt. I am a great believer in getting out from under the burden of consumer debt. But I am not a believer in getting out of debt. There is a reason for this. The only way to get out of debt is to die. Here are two great myths of the American dream: (1) financial independence; (2) debt-free living. Why are they myths? Because life involves both. Full Story
Edification is not the word that comes to mind when observing an interview with Larry Fink of Blackstone this morning on network financial news. It was inspirational if not humorous, and somewhat pathetic. Of course the interviewer treated him like royalty, when just a syndicate captain, a Made Man. As a cog within the US financial hierarchy, he was asked why Gold is approaching record price levels near $1500 per ounce. He gave his best 10-second answer, showing no depth of comprehension but an excellent grip of propaganda laced with simplistic distortion. Full Story
Things are certainly speeding up, and it is my conclusion that we are not more than a year away from the next major financial and economic disruption. Alas, predictions are tricky, especially about the future (credit: Yogi Berra), but here's why I am convinced that the next big break is drawing near. Full Story
By: David Galland and Louis James - 19 April, 2011
David Galland, Casey Research partner and managing editor of The Casey Report, sees a major shift in Federal Reserve policy ahead and has advice on how to invest accordingly. Time is short, so we’ve asked David to share his thoughts with us. Full Story
Sometimes mountains seem to be created from molehills. When investors focus on these mirages, tremendous excitement or disappointment occurs. After all the smoke clears, all that matters is that no wealth has been built. The current “in vogue” molehill is the gold versus gold stocks performance issue. You are living in what may be the greatest crisis in the history of the world, and trying to get richer from that crisis. Full Story
The whole global financial system is trapped in a situation whereby we have no choice but to permit the United States to continue counterfeiting money. There is no single political force or voice or even prospect with the knowledge and the power to put a stop to the insanity into which we continue to spiral on a daily basis. That means, despite the unanimous chorus from the financial media mainstream, which anesthetizes the human race in an effort to thwart violent protest by design, the fabrication of electronic dollars will continue apace. For years. Full Story
The purpose of this paper is to illuminate the real purpose of the obscene size of derivatives books amongst the world’s largest financial institutions. Derivatives in strategic markets are controlled by governments through proxy banks and agencies using these instruments. By sheer volume, the trading in paper “tails” wag the physical “dogs”. Full Story
The squeeze is on. Yesterday’s downgrading of the US economic outlook by Standard & Poor provided the catalyst for US Dollar shorts to cover, which drove up the Dollar index up, breaking its 15% decline over the last 10 months. S&P revised its outlook on the US AAA credit rating to negative from stable, citing the massive US debt and Washington’s apparent inability to cope with it its fiscal problems; Full Story
By: Michael Pento, Senior Economist at Euro Pacific Capital - 19 April, 2011
In the same vein as medieval physicians believed bloodletting would cure illness, modern snake-oil economists still perilously cling to their claim that rising wages and salaries are the cause of inflation. With my recent debates with these mainstream economists, I've heard the following: "without rising wages, where does the money come from to push prices higher?" I was tempted to respond, "where do the employers get the money to pay those higher wages?" But economists tend to get a little nasty when you make them feel stupid. Full Story
It doesn’t take a True Finn to recognize the injustice of bailouts for foreign governments. Neither nationalism nor bailouts will fix the real problem. We will eventually find our way back to sound money. But it is going to be terrible slogging, and real convulsions, along the way. Full Story
All in all I think if the market can't catch a bid next week and breaks that half cycle low the best course of action is to get the hell out of Dodge and ask questions later. It's just way too late in this cyclical bull market to hang around once things start acting iffy. Full Story
By: Richard Daughty, The Mogambo Guru - 19 April, 2011
“9% Unemployment Rate is a Statistical Lie” is a pretty catchy title, and being the kind of vicious little rat that I am, and who suspects treachery and betrayal at every turn, I naturally take a look at it to confirm my worst suspicions. Full Story
And now we learn that Standard & Poor’s, the same unprincipled hacks whose grossly inflated triple-A ratings made America’s real estate boom and (ongoing) bust possible, has downgraded the USA itself. Or to be more precise, their long-term outlook fell from “stable” to “negative” – a Kremlinesque way of hinting that an actual downgrade from AAA is possible if the U.S. doesn’t get its fiscal house in order. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 18 April, 2011
The only thing more ridiculous than S&P's too little too late semi-downgrade of U.S. sovereign debt was the market's severe reaction to the announcement. Has S&P really added anything to the debate that wasn't already widely known? In any event, S&P's statement amounts to a wake up call to anyone who has somehow managed to sleepwalk through the unprecedented debt explosion of the last few years. Full Story
The federal deficit this year is a record $1.6 trillion — a number that requires the government to borrow 43 cents out of every dollar it spends. The US government's total debt will mushroom from $14.2 trillion now to almost $21 trillion by 2016. Full Story
Gold looks fantastic. It is breaking away from a consolidation which could be called a running correction. Two weeks ago Gold broke to a new high. Last week Gold retested the breakout and then advanced to another new high at the end of the week. Its textbook bullish action. Yet the gold shares have really struggled. Full Story
By: Dr. Ron Paul, U.S. Congressman - 18 April, 2011
Congress focused on issues surrounding government spending this week as talk of deficits, the national debt, and the debt limit saturated the airwaves. This is a positive development. In years past, there was very little concern over how much was spent here in Washington, how it was spent, or how much of our gross domestic product was being consumed by government. Full Story
We’re not there yet, but it’s getting closer and closer. To what do we refer? Paying the tab for all the reckless spending by our governments and bureaucracies of course, because the day of reckoning in this regard is indeed getting closer and closer by the second based on exploding debt levels both in America and abroad. Full Story
Traders like to talk about panics or crashes--“The Panic of 1907” or “The Crash of 1929.” Usually crashes involve something dropping in price. I have this funny feeling that the panic of 2011 will be upwards. There has been a slow move into hard assets for years now. One by one, investors are beginning to understand the meaning of what the Federal Reserve intends to do to our currency. Full Story
Silver looks set for a sprint past its all-time high of $50 established 31 years ago this week. But with Goldman Sachs now advising its clients to get out of commodities and Glencore, the world’s largest commodities trader launching its $11 billion IPO most probably on Thursday, the end of this surge could come quickly. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 18 April, 2011
Registrations are now being taken for GATA's Gold Rush 2011 conference in London, to be held Thursday-Saturday, August 4-6, at the famous Savoy Hotel (http://www.fairmont.com/savoy/), and the hotel has begun taking reservations for GATA conference participants at a discounted rate. Full Story
1st Hour: Headline news & the Market Weatherman Report. Spotlight Stock Picks. Host Chris Waltzek & Bob Chapman, The International Forecaster discussion and answer listener's questions. 2nd Hour: Peter Grandich, www.grandich.com Bill Murphy, GATA.org Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 17 April, 2011
If we look at the gold price in the euro, we see it holding between €1,010 and 1,020 for the last couple of weeks. In the Swiss Franc it is doing much the same. However, in the dollar it has been rising, hitting new highs at $1,475. Today it jumped to €1,026 and through $1,480. Full Story
By: Bob Chapman, The International Forecaster - 17 April, 2011
Europe continues to struggle from one problem to another. The euro has been strong only because the dollar has been weak. The governments of Greece, Ireland, Portugal and Spain continue their balancing acts on the edge of a financial precipice. All have Socialist governments, which have done terrible jobs, but the opposition is not much better. Each economy is in serious trouble and if Italy and Belgium follow it will take $4 trillion to bail them out. If the solvent EU members bail them out they’ll fail as well. Americans and Brits can look down their noses, but their problems are just as bad if not worse. Full Story
Woe is us. There is nary a nation state on the planet where a man can be free. The entire planet is a cobweb of governments, police, taxes, laws, rules and regulations. It is with great sorrow that much of the population of the planet now has Stockholm syndrome. They've grown to adore and fawn after their captors. Billions flock to see their slave masters inaugurated or wed. Prince William of Wales has taken a bride, they shout! What a glorious day! Full Story
By: John Mauldin, Millennium Wave Advisors - 17 April, 2011
Today we once again think about the inflation/deflation debate, turn our eyes to Europe and the very interesting election happening there this Sunday, and speculate a little about what could derail the US economy. Full Story
By: Richard Daughty, The Mogambo Guru - 17 April, 2011
At my age, I have pretty much figured out that people don’t like me because they fear me. I don’t know why, exactly, but perhaps they fear me because I am a cynical, paranoid, gold-bug old man who thinks that the Federal Reserve has turned into an evil institution by creating So Freaking Much Money (SFMM), now so that it can commit the sin of monetizing new government debt by the truckload, increasing the money supply and guaranteeing a roaring inflation that hurts the poor, and hurts the almost-poor, and hurts the not-quite-poor, and (now that I think about it) it hurts everybody, which hurts me personally because they come whining to me to give them some of MY money! Full Story
It was another great week for gold and silver. Both hit new highs and soon we could see silver break into all-time highs. The S&P 500 has been consolidating with other markets after a strong bounce off the tsunami low. The S&P 500 is building what looks to be a reverse head and shoulders pattern here which should take it much higher after the pattern completes within a week or two. Full Story
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