By: Bill Bonner & The Daily Reckoning Crew - 23 November, 2007
-An immovable object blocks the middle class' retreat…official inflation figures lie… -Even the rich have to tighten the purse strings…less money to spend - but more ways to spend it? -The rebirth of thrift…changing fashions…and more! Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster – Global Watch - 23 November, 2007
This week saw the $ cross the $1.48 line to the € heading for $1.50 after the U.S. markets closed for Thanksgiving. It then bounced after the London market had opened on Friday. We do expect a bounce, but not for long as a secondary phase of the crisis comes into play. What crisis, you may well ask? It is the sub-prime crisis/credit crunch/$ crisis as it spreads into the global economy [as well as inside the U.S. of A.] Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 23 November, 2007
As internal debates in the Gulf and Asian nations intensify over the need to continue propping up the U.S. economy, dangerous signals this past week from the Fed, Freddie Mac, and Wall Street may be pushing them to finally let go of the lifelines that have kept America afloat. Full Story
By: Adam Hamilton, Zeal Intelligence - 23 November, 2007
Are you interested in trading in the stock markets? Do you have questions about getting started? You are certainly not alone. Almost weekly I hear from ordinary folks with basic questions about trading stocks. After addressing these on a consulting basis for years, I’ll outline some of the basics in this essay. Full Story
By: David Coffin and Eric Coffin - 23 November, 2007
The housing market just keeps getting uglier and profits for many sectors are flattening. While we haven’t yet changed our view that the US can skirt a recession it is easier to see the pessimistic case than the optimistic one. Full Story
From 1970 to 1980 it made sense to own commodities, from 1980 to 2000 it made sense to own US stocks and from 2000 to 2007 it has made sense to own commodities again. But are we in a major long term bull market trend in commodities where an early investor can hope to make quadruple digit returns over the long term? Full Story
By: Greg Silberman CA(SA), CFA - 22 November, 2007
The [false] notion that Gold Stocks are high Beta plays on the stock market arose in 2003 and again in 2005 when both markets rallied together under a deluge of liquidity. In our opinion the difference between today and then is that earnings growth in the NY Composite index will be hampered by credit and consumer problems whilst Gold Stocks will be emerging from a 1 year consolidation and likely to offer far better value. Full Story
Can the negative impact of the long-wave downswing be mitigated through interventionist economic policies? If so, then how? And what exactly causes the economic long-wave’s upswing and downswing to begin with? Full Story
When Simon & Garfunkel recorded “Bridge over Troubled Water” back in 1969, they knew they had a potential hit on their hands. And they were right, as it went on to become a number-one hit (staying atop the top of the charts for six weeks) and be covered by literally dozens of other singers. Full Story
By: Richard Daughty, The MOGAMBO GURU - 22 November, 2007
Taking up an Uzi in my trembling hand, I am suddenly brave and bold enough to bellow, 'What in the hell is going on here? Inflation in prices is freaking roaring all around us, and yet there is no panic? This is the stuff of nightmares!' Full Story
By: Bill Bonner & The Daily Reckoning Crew - 21 November, 2007
-Emergency rate rumor makes the rounds…markets go up AND down… -Smart investors falling into obvious traps…like a meteor striking earth…businessmen arriving on turnip trucks… -A report on the "dynastic disease"…buying candidates like bath soap…by chance rather than by fraud…and more! Full Story
The competing currency wars are beginning to escalate. Since 2002 the battles have certainly shown signs of economic damage. But they are really heating up. The winners are difficult to define. The losers are all nations involved. The important viewpoint is to identify which nations and economies will lose relatively less, and how they manage the warfare so as to gain an advantage over rival nations. Full Story
DEALING WITH A BANKING CRISIS used to be such a simple affair for the Bank of England – not least when the crisis rolled up at its own front door! Full Story
By: Bob Chapman, The International Forecaster - 21 November, 2007
We have often reported that since 8/15/71 it has been all down hill for the American economy. That is the date we left the Gold Standard. Since then there has been a decline in the purchasing power of the dollar. A decline that has forced a need for two incomes to replace the one income that was needed in 1970. What has been in process during the last 37 years is the disappearance of our middle-class and the limited ability to reach middle-class status. Our fiat currency has brought us decline and will eventually bring us impoverishment. Full Story
Recent high price volatility provides an opportunity to profit from a position in Gold. But it is essential to Forecast the direction of the prospective moves correctly, of course, in order to know WHAT position to take, whether short or long. Full Story
So, OPEC finally figured out what the western world has been doing to them. Oil producers have been swapping oil for green pieces of paper. Suddenly, they discovered the intrinsic value of those green pieces of paper, the market value of the paper and ink. Only governments can take paper, cover it with ink, and make it worthless. Full Story
By: Richard Daughty, The MOGAMBO GURU - 21 November, 2007
It's a frightening Twilight Zone moment when you realize that you started with $500,000 in buying power, and you ended up with, after waiting five long years, with only $439,700 in buying power! Full Story
By: Rick Ackerman, Rick's Picks - 21 November, 2007
December Gold turned sharply higher yesterday, trampolining $25 from an overnight low that lay within just four ticks of our downside target, a Hidden Pivot. Subscribers will recall that we were expecting the correction to go a bit further last week when the futures were hovering around $793, down $55 from a high of $848. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 20 November, 2007
-The kind of debt that sets off Geiger counters…the four points of the big picture…the summer where nothing gave… -Credit crunch is not a breakfast cereal…a Texas-sized but…"Buy when blood is running in the streets… -Rhett Butler - a real contrarian…losers who look like winners…long term essentialists…and more! Full Story
If a concentrated net position of more than 50% of the total market, held by a few traders, is not manipulative, then what percentage would be considered manipulative? Contentions that these few large traders may be hedging does not excuse manipulation. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 20 November, 2007
I have told not to be too bullish and I feel I am about as balanced as I can be. Of course short term I never attempt to speculate. But long term I see a great deal of volatility. And short term I see a great deal of volatility. Already we are observing price movements of 25 dollars and more in a single 24 hour period. Full Story
By: Steven Saville, Speculative Investor - 20 November, 2007
The top section of the following chart compares the BSE/gold ratio (the Indian stock market in gold terms) with the GYX/gold ratio (the Industrial Metals Index divided by the gold price). It clearly shows that both the industrial metals sector of the commodity universe and the Indian stock market trended upward in real (gold) terms from 2003 through 2006. Full Story
By: Richard Daughty, The MOGAMBO GURU - 20 November, 2007
This means that almost a third of my money is sucked away by the guys doing a lousy job of managing my money, and then another chunk will be taken from me in taxes by a government doing a lousy job of governing? Yow! Full Story
By: Rick Ackerman, Rick's Picks - 20 November, 2007
Yesterday being the Monday before Thanksgiving, we began the day expecting the Dow to open 100 points higher on a gap, then to tack on at least another hundred points as bears struggled to extricate themselves from the trap. Lo, the Indoos plummeted from opening bell and were down as much as 300 points by mid-day. An apparent contributing factor was a downgrade of Citi shares by some genius at Goldman Sachs. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 19 November, 2007
-Trying to tell which way the tide has turned…the masters of the universe are not looking so powerful right now… -Absurd pretensions turned into preposterous contradictions…an economy on the edge… -Volatility in the market can provide some interesting opportunities to profit…the masked economist takes over the Monday guest essay…and more! Full Story
Well the dollar index is heading for the cellar and gold is heading for the moon. Of course a falling dollar index simply means the dollar is falling faster than the other un-backed fiat currencies that it is measured against are falling. In a world of rubber yardsticks it is hard to find anything to accurately measure with these days. Of course don’t be surprised if the dollar bounces a bit before it continues its slow inevitable decent to its intrinsic value of zero. Full Story
The more things change, the more they stay the same. The song and dance, shuck and jive, bait and switch operation known as the Federal Reserve System rolls on, undeterred by Congress or any other government control agency. The whole thing rests on a sham. Bernanke referred to it. "As I have emphasized today, the Federal Reserve is legally accountable to the Congress. . . ." Full Story
The Price / Earnings Ratio has long been recognized as one of the most useful financial indicators for valuing both individual stocks and stock markets. However as with individual stocks, it can be misleading if not also taking into account growth prospects for a particular economy. One of the primary indicators of growth is a countries real GDP, and as with an individual stock analysis, it is the consistency of trend that is important so as to avoid one year growth spurts. Full Story
Gold's $60 plunge has spooked out many gold investors out of their gold investments last week and yes, most top callers will be happy to tell you (once again) 'I told you so'. Never mind they were calling TOPS ever since the last $120 of gold's latest up-move. Full Story
So what does a precious metals investor do under such circumstances? Answer: Pull your horns in, even if it’s only to avoid seasonal weakness anticipated in November. You see there has never been an instance of negative stock market returns for the week ending October along with the first few days of November, but next week could be interesting if long rates were to take off in spite of hawkish talk out of the ECB. Full Story
By: Roland Watson, The Silver Analyst - 19 November, 2007
Of course, I can’t say with an oath where exactly silver and gold are going, but I believe it is higher yet and I just want to present two items which help bolster that opinion. You may have your own favorite reasons but first I start with a simple Elliott Wave pattern. Full Story
One week does nothing from the long term term perspective. The indicators change very slowly so one week is but a blip. The P&F chart has reversed direction but is a long way from any change in trend. The momentum and volume indicators are well in the positive zones and the moving average is still pointing upwards. All is still well and the long term rating remains BULLISH. Full Story
Gold fell $47.40 for the week, closing at $787.30 for a loss of -5.68%, none of which should come as surprise to readers of this report, as we had surmised last week that gold was overbought and ripe for a respite. Full Story
1st Hour: Headline news & market forecast. Spotlight Picks with big dividends. The International Forecaster and Chris Waltzek answer listener questions. 2nd Hour: Puru Saxena Full Story
By: CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committe Inc. - 18 November, 2007
This case will be important for its bearing on constitutional law and individual rights to possess and trade in gold, silver, and copper, even as it may turn on the issue of likeness. Liberty Dollar might be in a stronger position if it did not use the word "dollar" or the dollar sign on its medallions and instead denominated its medallions only by weight in metal. Still, it is hard to see how people could be deceived into thinking that the Liberty Dollar products are issued by the government and are legal tender "for all debts, public and private," rather than devices for barter. Full Story
By: Bob Chapman, The International Forecaster - 18 November, 2007
Usually loses can be easily absorbed by all parties, but not when you are using leverage and that is what all these parties have been doing. The full damage done would be finally known for another year or two. If you mix in an overpriced stock market, a real estate collapse and major losses you come up with a deep recession accompanied by inflation. The only alternative is gold and silver related assets. Full Story
By: John Mauldin, Millenium Wave Advisors - 18 November, 2007
This week we look at inflation. Is it just over 2%, giving the Fed room to cut rates, or will it be closer to 4% by the next FOMC meeting, making a rate cut problematic? How do they get those numbers? When and how can two opposite things be true at the same time? The answer depends on how many dimensions you are living in when you are asking the question. The Fed is going to be faced with a very difficult decision at its next meeting, and there results of there deliberations will be felt by you. Full Story
By: Sol Palha, Tactical Investor - 18 November, 2007
The new is terrible, the outlook is gloomy and the doomsayers are having a field day. Once again the financial world is about to end at least as far as they are concerned and the masses are slowly starting to stampede for the exit which always happens to lead to the edge of steep cliff. Full Story
The federal government claims (as usual) that inflation was mild in October. Just 0.3% for the month and 3.5% year-over-year. Yet again we will hear so-called financial experts on television and other media parrot the government's inflation figures, as if they had any semblance to reality. Shadow Government Statistics, a far more believable source, shows a 7% year-over-year increase in CPI, and this correlates quite well with (at least my) real-world experience. Full Story
By: Richard Daughty, The MOGAMBO GURU - 18 November, 2007
What is the sound of one hand clapping while the other hand reaches for a box of breakfast cereal and then having to pay more for it in dollars-per-ounce, which means having less money for everything else including going to a bar and getting hammered… Full Story
By: Rick Ackerman and Erich Simon - 18 November, 2007
When our bird flu correspondent, Erich Simon, is not immersed in the potentially world-ending details of the pandemic, he sometimes likes to tote up the ways in which gold bugs could eventually profit from behind-the-scenes maneuvering by the bankers and their Friends in (very) High Places. Full Story
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