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Weekly Archive

By: The Gold Report and Bob Moriarty - 22 May, 2009

By nature, Black Swans are rare and typically solitary. Defined two years ago by Nassim Nicholas Taleb in The Black Swan: The Impact of the Highly Improbable, Black Swans personify events that share three features: they come as a surprise, they have major impact, and they are later rationalized by hindsight as if they had been predictable. They aren’t necessarily bad and seldom appear in flocks, but as founder Bob Moriarty sees it, those darkening the horizon these days serve as harbingers of escalating chaos in financial markets. Full Story

By: Bill Bonner, The Daily Reckoning - 22 May, 2009

Like snow at high altitudes, the central banks’ new money is piling up. As reported last week, all the world’s major central banks have turned on their snow machines. The US Federal Reserve has been authorized to “print” $1.75 trillion worth of new money in order to buy Treasury bonds. Full Story

By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 May, 2009

Monsieur Claude Trichet, the head of the European Central Bank has described the world economy as, at a “Point of Inflection”. The dictionary tells us this is when a curve changes from Concave to Convex. So as not to confuse you, the economy is about to or actually changing direction and is turning up. Full Story

By: Adrian Ash, BullionVault - 22 May, 2009

"When we are victorious on a world scale," said Lenin, writing in Pravda on the Complete Victory of Socialism in 1921, "I think we shall use gold for the purpose of building public lavatories in the streets of some of the largest cities of the world." And long before the global soviet takes over, you might find US Dollars hanging off a nail on the back of the toilet door. Full Story

By: Adam Hamilton, Zeal Intelligence LLC - 22 May, 2009

On any day that commodities prices move materially, the financial media is quick to ascribe their action to the US dollar. And this oft-discussed causal relationship is certainly logical. With commodities priced in dollars, a stronger dollar will buy more units of any given commodity while a weaker dollar buys less. Full Story

By: Deepcaster - 22 May, 2009

“Buy and Hold” investors have had a rough time in the past year. Their portfolios are down 35% or more, typically. Unfortunately, they can expect to continue to suffer losses for the foreseeable future for reasons Deepcaster has laid out. Full Story

By: Andrew Mickey, Q1 Publishing - 22 May, 2009

Gold is glittering more than ever. All the fundamentals are in place for a big run in gold. The “hot money” has found a new friend: gold and gold stocks. As we looked at a few days ago, the big money pension and mutual funds are betting big on gold too. Full Story

By: Peter Schiff, Euro Pacific Capital, Inc. - 22 May, 2009

While economists and real estate investors "celebrate" the slight deceleration in the pace of home price declines in the recent data, a quick look at home price trajectories over the past 100 and 50 years reveals little to cheer about and much to be feared. Full Story

By: David Morgan and Ellis Martin - 22 May, 2009

I’m Ellis Martin, host of the Opportunity Show. Today again we’re featuring the Silver Guru himself, David Morgan. Mr. Morgan is recognized around the globe as an expert on silver, gold, and other precious metals. His Web site is David, thanks for joining us again today. Full Story

By: Jim Willie CB - 22 May, 2009

Numerous events have taken place of global importance. Alone, each story seems of some significance. Together, they paint a mosaic of extreme change in a very dangerous sequence of events that fit together. The greater aggregate story is that a tremendous paradigm shift is underway, with early steps and major moves by global players in clear view. The Western analysts and pundits and mavens are missing it. A PARADIGM SHIFT HAS BEGUN, WITH BANKING POWER SHIFTING TO THE CREDITOR NATIONS AS THE USDOLLAR IS SUPPLANTED, MADE POSSIBLE BY SEVERAL NEW INSTITUTIONAL PILLARS AS WELL AS NEWLY FORGED ALLIANCES. Full Story

By: Michael Kilbach - 22 May, 2009

To measure ones wealth, the “price” of ones assets is not very important but the “purchasing power” or “relative value” is very important. Understanding this difference may be one of the most important concepts an investor can learn. Full Story

By: The Energy Report and Roger Wiegand - 22 May, 2009

The "Sell in May" situation could arrive right on time this year, according to Roger Wiegand of Trader Tracks, who anticipates that all the economic machinations of the last year could create not only inflation, but potentially hyperinflation. In this exclusive interview with The Energy Report, Roger suggests some alternate market plays for the lean summer months and explains why he believes the prices of oil and gas are going to get very interesting if we have hyperinflation and low oil production and shortages. Full Story

By: R. D. Bradshaw - 22 May, 2009

The Rothschild Cabal has had to alter some of its plans on stealing the up to $100 trillion needed to cover its toxic assets, as discussed in the Goldsmiths, Part LXXX. It is this reality which seems to account for the efforts to show some improvements in the US economy, starting in April 2009. Full Story

By: Richard Daughty, The MOGAMBO GURU - 22 May, 2009

I despise Alan Greenspan more than all others (which is saying a lot, as I think most Earthlings are pretty damned stupid!), and it is he that I ungraciously characterize as the most obviously mentally ill, low-IQ, delusional lowlife scumbag on the face of the planet because he is directly responsible for every economic and financial problem... Full Story

By: Rick Ackerman, Rick's Picks - 22 May, 2009

We scratched a bearish position in the financial stocks yesterday, exiting some options we’d purchased in a vehicle that leverages the downside in the Russell Financial 1000. There were a few reasons why we decided to bail out for a slight profit, even though we’d held the position for just a couple of days. Full Story

By: Bill Bonner, The Daily Reckoning - 21 May, 2009

Is it on…or off? The bear market rally, that is? The Dow was down again yesterday…but just a little…52 points. The short-covering rally is finished, says David Rosenberg, formerly one of Merrill’s top analysts. Full Story

By: Ira Epstein - 21 May, 2009

As I wrote last week, seasonally speaking, rallies can and do occur during May, with the second part of the month often turning weak. August, historically speaking, is a better seasonal time for a longer lasting rally to grab hold one than ones that occur in May, June or July. However, when rallies hit at this time, they often do so in a quick manner. Full Story

By: Christopher G. Galakoutis - 21 May, 2009

There can be little doubt that the US economy is in uncharted waters. The crash of 2008 and the US government’s response -- and the world’s response, for that matter -- were unprecedented, which means that many of the old rulebooks get thrown out the window. Full Story

By: Trace Mayer, J.D. - 21 May, 2009

The ‘green shoots’ of the economy are really red roots evidenced by a labor market stasis and plummeting earnings. Chairman Bernanke told ‘60 Minutes’ on Sunday that “green shoots” of economic resurgence are sprouting. But those perceived green shoots are really red weeds that the Federal Reserve has internally debated for weeks. The economy is grinding to a halt, the FRN$ is under intense pressure and beginning to buckle again while gold is predictably playing its role. Full Story

By: - 21 May, 2009

Special GSR Gold Nugget: Dr. Doom, Marc Faber & Chris Waltzek Full Story

By: Darryl Robert Schoon - 21 May, 2009

We live in extraordinary times. Poised between the past and the future, never has the present been so uncertain. But, when certainty comes, it will be in the form of a scythe and ducking will be the only option. Full Story

By: Chris Vermeulen - 21 May, 2009

I think gold and silver will do very well over the next couple weeks. Depending on how strong the pullback is for equities it will play a roll in the price of precious metals. If we get a really strong reversal and rally then I don’t think gold and silver will do as well. Full Story

By: Peter J. Cooper - 21 May, 2009

The total turnover in Dubai gold contracts has reached $128 billion since they were first launched on the Dubai Gold & Commodities Exchange, with the volume of contracts passing three million for the first time in May. Full Story

By: Andrew Mickey, Q1 Publishing - 21 May, 2009

Long-time readers of the Prosperity Dispatch know the India story well by now. India is one of the very few countries which has laid the foundation for a genuine economic boom. I’m talking about the type of boom which could last for decades. Full Story

By: Richard Daughty, The MOGAMBO GURU - 21 May, 2009

I took one last shot of bourbon as an essential anesthetic before I dared venture to that foul den of evil incarnate known as the Federal Reserve, and I am glad I did! I realize that I should be numb to these sick excesses of the Federal Reserve, but I am not sure that I will ever become numb to, for example, last week’s stunning $75 billion increase in Total Fed Credit, which is, literally, the fabled “money from thin air” of story and song. Full Story

By: Rick Ackerman and Chuck Cohen - 21 May, 2009

Although our long-term outlook for precious metals remains bullish, we doubt that gold is ready to leap beyond the $1000 barrier the next time it touches it — especially if this occurs within the next few weeks. However, with today’s commentary by our friend Chuck Cohen, we skip ahead to the not-so-distant future, when junior mining shares are likely to make dot-com mania seem relatively subdued in comparison. Here’s Chuck with a rousing forecast for gold and gold stocks: Full Story

By: Gary Dorsch, Editor, Global Money Trends - 20 May, 2009

Each month, the US Treasury publishes its International Capital account, (TIC) which foreign currency traders and bond dealers use to gauge the flows of money from around the world, into and out-of the US-capital markets. The demand for a nation’s bonds and stocks, combined with international trade flows for goods and services, plus behind the scenes intervention by central banks, all act in concert to influence the foreign exchange market which handles $4-trillion per day. Full Story

By: John Browne, Senior Market Strategist, Euro Pacific Capital - 20 May, 2009

Although well off their all-time highs, American stocks are now marginally up for the current year. In the past two months, the markets have recovered over 30 percent from last year's lows. But something just does not add up. In the first quarter of 2009, average U.S. corporate earnings were down over 30 percent. Full Story

By: Bob Chapman, The International Forecaster - 20 May, 2009

The excuses coming out of Wall Street and Washington are truly mind-boggling. We wonder how the public swallows them. One of the latest is that for one-week applications for jobless benefits had fallen. That is good, but we’d need a number of weeks of reduction for the fall to be meaningful. Anything to keep the market from falling. This has been followed by a long line of liars telling us we had bottomed out in the economy. The same litany we’ve been hearing for 22 months. Full Story

By: Sol Palha, Tactical Investor - 20 May, 2009

This article by no means deals with all the events that could, might or should unfold if and when we enter a period of hyperinflation; one could literally write a book if one dealt with all the potential scenarios. We have chosen to briefly focus on a few areas and our intention is to deal more with the remedy than spend endless time talking about the problem. Full Story

By: Adrian Ash, BullionVault - 20 May, 2009

Evil-day gold buying really motored since the credit collapse began in August 2007. Soaking up investment dollars worldwide, in fact, new allocations to the metal – whether trust-fund or owned outright – swelled by 38% during the first quarter of 2009 compared with total demand between Jan. and March 2008, according to marketing-group the World Gold Council (WGC). Full Story

By: Warren Bevan - 20 May, 2009

Last week GFMS and the Silver Institute released their annual press release which sums up the basic supply demand equation. GFMS is renowned for their bearish stance on gold and silver and have been very conservative and wrong for the duration of this precious metals bull market. They are still singing the same old song this year and are calling for more downward pressure than upward. Some things never change. Full Story

By: Trace Mayer, J.D. - 20 May, 2009

One of the reasons, if not the chief reason, for the excessive government encroachment on civil liberties is the abandonment of sound money. Contained within the United States Constitution are very specific monetary powers and disabilities. This constitutional violation is the chief cause the world has become a very dangerous place. Full Story

By: Dudley Pierce Baker - 20 May, 2009

Recently we have seen several articles on the merits of tracking insider buying activity and we would like to put our spin on the subject adding our specific interest in the natural resource sector. The junior mining shares are looking better each day as represented by the CDNX (S&P/TSX Venture Composite Index) and investors need all the tools possible at their disposal. Full Story

By: Peter J. Cooper - 20 May, 2009

Standard Chartered is including gold and silver as one of four main recommendations to its private banking clients, according to a presentation by chief investment strategist, Lim Say Boon, in Dubai today. Full Story

By: Lorimer Wilson - 20 May, 2009

Richard W. Fisher, president and CEO of the Federal Reserve Bank of Dallas, was once one of the most expressive economist imaginable often using graphic and sensationalist words and expressions to get our attention when describing the ‘nightmarish predicament’ and ‘monstrous challenge’ that has finally engulfed us. Full Story

By: Richard Daughty, The MOGAMBO GURU - 20 May, 2009

James Howard Kunstler, famous author and speaker, opines, “For now, the ‘bottom’ is in” which took me completely by surprise! I mean, how could anybody in their Right Freaking Mind (RFM) think that “the bottom is in” as far as the economy is concerned? Full Story

By: Rick Ackerman, Rick's Picks - 20 May, 2009

As California goes, so goes the nation? Let’s hope not, since voters looked all but certain on Tuesday to force the deepest spending cuts since statehood was achieved in 1850. We have no qualms endorsing spending cuts over tax increases, but in this case the cuts will be so severe that it’s possible only basic services will survive. Full Story

By: The Gold Report and Roger Wiegand - 19 May, 2009

The 'Sell in May' situation could arrive right on time this year, according Roger Wiegand of Trader Tracks, who anticipates the next larger, extended rally in gold this fall. In this exclusive interview with The Gold Report, Roger suggests some alternate market plays for the lean summer months and explains why he believes "the deck is stacked against the stock market" and $1,375 gold appears in the cards. Full Story

By: David Galland, Managing Editor, The Casey Report - 19 May, 2009

While everyone else has been focused on the banks’ stress tests and how much government is spending to bail out troubled “too big to fails,” a disturbing trend on the other side of the equation is now emerging: how much (or rather, how little) the U.S. government is receiving in tax revenues. Full Story

By: Ralph Kettell - 19 May, 2009

One of the biggest challenges facing an investor is trying to understand the news and/or financial results that companies publish periodically in the form of news releases. Investors and analysts attempt to interpret (read guess) how this news will affect the share price, short and/or long term. In the mining and mineral exploration business the most often published and one of the most significant types of news releases are drill results. They are the lifeblood of the business. Full Story

By: Mickey Fulp - 19 May, 2009

A recent topic of conversation at the bar has been the dearth of success in finding giant ore deposits during this six year exploration bull market. The junior resource sector is a boom and bust business driven largely by the commodities cycle and especially the price of gold. The current bull cycle started in mid-2003 when an ounce of gold went over $300 and stuck. Full Story

By: Trace Mayer, J.D. - 19 May, 2009

Brazil with 3,285,618 square miles (8,511,965 square kilometers) and around 200 million people is the fifth largest country in the world and about 11% larger than country-continent Australia. With 5 World Cup wins Brazil leads the board ahead of Italy with their four wins and a purported 2,451.8 tons of gold and Germany with their three wins and an overtime March bailout via the ECB of Deutsche Bank’s naked short gold derivatives. Full Story

By: Peter J. Cooper - 19 May, 2009

So the two top holders of the gold ETF are revealed as hedge funds in their first quarter regulatory filings. Paulson & Co, whose founder was the highest paid fund manager in 2007 thanks to a well-timed bet against sub-prime mortgages, bought 31.5 million shares in GLD, the gold exchange traded fund, in Q1. Meanwhile, Lone Pine was not far behind with its purchase of 26.5 million shares. Full Story

By: Steven Saville, Speculative Investor - 19 May, 2009

The actions of the US Fed and Treasury between September and December of last year prompted fear in some quarters that the US was speeding towards a Zimbabwe-style hyperinflation. However, while we view hyperinflation as inevitable over the very long-term at no stage have we viewed it as a serious intermediate-term threat. In our opinion, the probability of the US experiencing hyperinflation within the next two years is close to zero. Full Story

By: Richard Daughty, The MOGAMBO GURU - 19 May, 2009

The big news, of course, is that the Bureau of Labor Statistics at the Department of Labor reported that non-farm payroll employment continued to fall in April, and 539,000 jobs were lost, which probably explains why they later note that “Overall, private-sector employment fell by 611,000” and that “the unemployment rate rose from 8.5 to 8.9 percent.” Full Story

By: Rick Ackerman, Rick's Picks - 19 May, 2009

The bear rally that wouldn’t die frolicked once again yesterday, leaving shorts badly bloodied and hanging from the ropes. The Dow Industrials, for one, opened sharply higher on a 100-point gap, then just kept going with only tepid pullbacks along the way. The buying spree had been telegraphed the night before when the E-mini index futures appeared to struggle to reach a minor pullback target off Friday’s highs. Full Story

By: Bill Bonner, The Daily Reckoning - 18 May, 2009

Ol’ Merle Hazard has the key question figured out. Which will it be? Zimbabwe or Japan? Will it be runaway inflation…or deflation that refuses to run anywhere? Long suffering Daily Reckoning readers already have our answer. We gave it even before the bubble burst in ’07/’08. Full Story

By: Dr. Thomas Chaize - 18 May, 2009

Historically goldmines are poor in the precious yellow metal and despite all of the difficulties the world production of gold was able to grow. It was multiplied by 4 in one century. However, since 2001 the world production of gold seems to have peaked. Full Story

By: Theodore Butler - 18 May, 2009

The release of the Silver Institute’s Annual World Survey has resulted in a rash of stories suggesting a large surplus of silver. According to the story, if it was not for record investment demand, the price of silver would have declined because of the surplus. As you probably know, analyzing the specifics of supply and demand is exactly what I do, so I am going to present the specifics as I see them. Full Story

By: Roland Watson, The Silver Analyst - 18 May, 2009

Cold Fusion, that pariah of established science, made a comeback in March as the US Navy’s Space and Naval Warfare Center went public with results which they believed confirmed that low energy nuclear reactions were present, repeatable and decisively demonstrable in their specialized palladium/heavy water experiments. Full Story

By: Dr. Ron Paul, U.S. Congressman - 18 May, 2009

I have been very pleased with the progress of my legislation, HR 1207, which calls for a complete audit of the Federal Reserve and removes many significant barriers towards transparency of our monetary system. This bill now has nearly 170 cosponsors, with support from both Republicans and Democrats. Full Story

By: Captain Hook, Treasure Chests - 18 May, 2009

The old adage ‘appearances can be deceiving’ can apply to many different situations, but for today, in our financial mania centric world, there is likely no better use of the term than as it applies to the various markets that characterize the landscape these days. In this respect, right now stocks appear to be discounting better times ahead with their more recent rebound, however even those who do not understand the real reasons why, know this to be a falsehood. Full Story

By: Howard S. Katz - 18 May, 2009

Hey;, you. Yes, you, the guy who wants to know what is going on with the economy, the guy who is searching the web sites and reading articles, the guy who wants to make money. I have bad news. Full Story

By: Bob Chapman, The International Forecaster - 18 May, 2009

We have come a long way from Dow 14,168 and we have just completed a strong bear market rally based on little but hopes, dreams and the assistance of the “Working Group on Financial Markets” under the guidance of the Treasury and the Fed. We believe the bear market has a substantial distance to fall as the debt sector is purged. Full Story

By: Clive Maund - 18 May, 2009

From August 2007 when the world passed the tipping point it has been in the grip of massive deflationary forces that have already ravaged portfolios and pension plans and resulted in millions losing their jobs. This deflationary implosion had become structurally inevitable and it was only ever a question of when, rather than if, it occurred. Full Story

By: Jake Towne - 18 May, 2009

After Burns's speech, the price of gold never went lower. In January 1978, the monthly close was $175/oz. In September of 1980, the monthly close reached $670/oz. As GATA has painstakingly made clear from its' long list of evidence, governments and central bankers have colluded to suppress the price of gold to make their own currencies look better. Just as the London Gold Pool experienced momentary success and then perished in 1968, gold and its holders will win this war. Full Story

By: Adrian Douglas - 18 May, 2009

The Chinese have vault-loads of intrinsically worthless Treasury bonds that they no doubt have used as collateral to buy intrinsically valuable assets. In contrast, Western central bankers had vault-loads of gold they have loaned or sold to buy intrinsically worthless interest-bearing government debt. I bet Confucius would have had something to say about that. Full Story

By: Rick Ackerman, Rick's Picks - 18 May, 2009

Gloomy forecasts have generally held sway at the Committee for Monetary Research and Education’s annual spring dinner, but this is the only time we can recall when there were no optimists on the dais bold enough to challenge a consensus now gloomier, probably, than at any time since the 1930s. Full Story

By: - 17 May, 2009

1st Hour:
Headline news & Market Weatherman Forecast.
Spotlight Stock Picks with big dividends.
The International Forecaster and Host Chris Waltzek answer listeners' questions.
2nd Hour:
-Gerald Celente, Trends Research Institute Full Story

By: Clif Droke - 17 May, 2009

Gold’s latest rally is a microcosm of what I expect for 2009. The rally to date has been a “silent” one in that it hasn’t been overly exciting or suggestive of major inflation. Many traders have slept on this one despite being fairly profitable for us so far. But it does denote recovery and also perhaps reflects lingering concerns over the stability of the financial system, a carryover from last year’s severe bear market. Full Story

By: Adam Brochert - 17 May, 2009

This is the question I find myself asking over and over again whenever I hear about this new proposal or that new "stimulus." Why would people believe that government intervention changes the primary trend? Why do people believe Bernanke, Obama, or Geithner can do anything besides screw things up even more? Full Story

By: Chris Powell, Secretary/Treasurer, GATA - 17 May, 2009

For the time being, in the absence of others who might do it better, GATA would speak for this class too, giving full credit to those who, like Savoie and Lips and so many others, helped to pass the secret knowledge along. But if this knowledge is to prevail and save the world from the ever-more outrageous depredations of the financial class, it can be secret no longer and no one can be allowed to get proprietary about it. It simply has to be shared -- no, proclaimed -- with credit if possible, but without credit is fine too. Full Story

By: John Mauldin, Millennium Wave Advisors - 17 May, 2009

Why does government data need to be revised so often? Is it conspiracy, as some claim, or is it methodology? And if it is methodology that leads to faulty data, then why not change the methodology? Is unemployment a lagging indicator, as conventional wisdom suggests? We look again at the underlying assumptions to suggest that things are not always the same. And finally, we look at unsustainable trends, fiscal deficits, and health care -- there is a connection. Full Story

By: Dr. Ron Paul, U.S. Congressman - 17 May, 2009

On Friday, Dr. Paul was interviewed on MSNBCs Morning Joe, where host Joe Scarborough praised Dr. Paul for his 2003 warning about the current economic crisis. Full Story

By: Merv Burak, CMT - 17 May, 2009

It’s been a steady climb all week, even on minus days the lows were always higher. However, the action still is not enthusiastic. Not that gold is about to plunge, it’s just that it doesn’t seem to be getting anywhere fast. Full Story

By: Andrew Mickey, Q1 Publishing - 17 May, 2009

Recently gold stocks have been attracting a lot of attention. There are many reasons to like gold right now. And all the fundamentals are there to send undervalued gold stocks much higher in the next three to five years. Full Story

By: Peter J. Cooper - 17 May, 2009

Gold closed the week at $931 and silver held steady at $14 an ounce. Investors did not know which way to jump this week, although equities closed lower for the first time in 10 weeks. That probably marks the top of the bear market rally. Markets generally soften and show a little volatility before turning down. There are, on balance, still far more reasons to be negative than positive about the outlook. Full Story

By: R. D. Bradshaw - 17 May, 2009

Talk about a smoke and mirrors report from the Fed and its colleague Geithner, we have recently been bombarded with a series of them over the so-called findings of the Geithner Stress Test. For days now, we have been told that ten of the 19 major banks involved only need $75 billion more in capital. But since some of the banks are disputing the Geithner findings, even this figure is now suspect. Full Story

By: Richard Daughty, The Mogambo Guru - 17 May, 2009

If you are one of the people who write to me and question my consistent advice to buy gold, silver and oil (“Dear Mogambo, You’re an idiot, which means that you are probably wrong about gold, silver and oil, too! (signed) A guy who can recognize idiots from a mile away”), and who must think that oil will remain low forever, think again: Full Story

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