By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 April, 2010
Initially the gold price fell on the news of the S.E.C. civil fraud charge against Goldman Sachs in the belief that both they and Paulson’s hedge fund would have to sell their gold holdings. A reaction that was founded on uncontrolled emotions, you would rightly suppose. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 23 April, 2010
Whenever the Chinese government decides to end the peg, the Chinese economy will benefit as a result. While as citizens we can hope that U.S. leaders respond with the right policies to enable our economy to regain its former glory, as investors we should position ourselves to benefit from the more certain outcome. Full Story
RESCUING THE BANKS was supposed to be about saving the savers. Just as in the Asian Crisis of the late '90s – where Tim Geithner and his class-mates cut their teeth as bail-out consultants, advising here...saving Thailand by the hotel-pool there – making depositors whole gave the official response its moral foundation. Full Story
A powerful source of energy for gold and silver is the ‘real interest rate’. At the moment US T-bills are yielding 1.5%. The rate of price inflation according to Mr. John Williams at Shadowstats.com is about 5.5%. This means inflation is eating away 4% of a dollar that is invested in a T-bill for a year. That is ‘negative real interest’, and gold historically thrives under those conditions. Full Story
By: David Galland, Managing Editor, The Casey Report - 23 April, 2010
To ascertain what move the government is most likely to take next, we must first assess the probabilities. In order to do that, we start by restating the central question, “How does the U.S. government spend, spend, spend (a minimum of $10 trillion in red ink over the next decade) and yet maintain today’s historically low interest rates?” Full Story
The US Government is caught in a cash vise and is being squeezed between too slow a rebound in tax revenues and the limitations on how quickly it can realistically take its funding requirements to the US Treasury auction. The US Treasury was saved in March by what the government reports as “proprietary receipts”. Those receipts require an explanation that is not well publicized since it begs the question of what happens next month without the $117 BILLION journal entry. Full Story
The USD rally is likely to slow and soon come to an end. Gold, silver, and mining stocks, having shown strength during the recent USD rise, are poised to surge upward once the current USD rally ends. Should the USD rally continue in the coming week, expect continued minimal declines in the PM sector as its strength continues to hold prices in patterns similar to recent weeks. Full Story
By: Daniel Aaronson and Lee Markowitz - 23 April, 2010
The greatest looming threats for our country are the budget deficit and the off-balance sheet liabilities of Medicare and Social Security. Indeed, on numerous occasions you have spoken about these liabilities. Full Story
There has never been as much attention paid to the situation of a looming American bankruptcy since the National Debt Clock made its debut many moons ago. It is hard these days to pick up a newspaper or look at a TV program without hearing someone mention our massive debt. And they’d be correct in saying we’re in big trouble. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 23 April, 2010
Launched 4 years ago this week, the SLV silver ETF has proven very successful. With $5.1b in net assets, it already ranks among the top 20 largest ETFs in the US. And the 287m ounces of physical silver bullion it holds in trust for its stock investors is impressive. For comparison, elite market-darling silver streamer Silver Wheaton only produced 17m ounces last year (equivalent to 6% of SLV’s holdings). Full Story
Investors should seriously focus on the Misinformation, Disinformation and Outright Lies generated by Officialdom around the World. The capacity to identify falsehoods and obtain accurate data is essential to profiting and protecting wealth. Here we outline several challenges and then offer a few Guidelines and Sources to aid in that quest. Full Story
Let me start off by saying the market should be correcting. Sentiment has reached ridiculous bullish extremes, the kind of extremes that led to the January /February correction. That correction separated the second leg of the bull from the third. But let’s face it, sentiment has been in this condition for several weeks now and the best we could muster was a minor correction of 30 points on the news the SEC was filing charges against Goldman Sachs for fraud. Full Story
Is the US dollar fundamentally flawed? We think so. Is the US economy fundamentally in trouble? We think so. So why are these markets rising day after day, month after month? Full Story
Many people like to look at Japan as instructive relative to the current situation facing the United States (and most of Europe). The current strong up move in stocks has been relentless. It has been no fun and of no use lately to eruditely point out how bad the underlying economy is and how bad the housing market and banking system is. Full Story
On April 21, 2010 Paul Tustain, CEO of BullionVault, posted an article at gooldseek.com entitled “Cash Futures, Physical Forwards, and London Gold's 100-to-1 Leverage" in which he characterizes my comments and analysis of the LBMA as a “misunderstanding”. The following commentary is written as a rebuttal to Mr. Tustain’s article. Full Story
One look at yet one more story about how the world should assess and assign blame for the ongoing financial crisis, this one appearing over at the Wall Street Journal Real Time Economics Blog the other day titled No Resolution in Sight in Fed Blame Game, has belatedly brought me to the conclusion that, for years now, nearly everybody has been asking the wrong question about blame for the financial crisis. Full Story
By: Richard Daughty, The Mogambo Guru - 23 April, 2010
It was too late that I remembered that having margaritas for lunch was a bad idea, and I was now sleepy and argumentative, my eyelids drooping, when my eyes suddenly few open when I read the Bloomberg headline, “Leading Economic Indicators Index in US Rose 1.4% in March”. Wow! Full Story
Is there a connection between the troubles in Iceland, Iran, Venezuela and China and the demands of the Rothschild Cabal masters? The bottom line here is that in this age of uncertainty and Rothschild Cabal fiat money manipulations, more and more people seem to be turning to gold. Full Story
Last time we heard from “Cameroni,” his downbeat economic forecast for Canada drew a deluge of responses in the forum, both pro and con. Things have only gotten worse since, he says, and Canada has now edged perilously close to the deflationary abyss that threatens to engulf so many other countries. Below is Cam’s up-to-date assessment of Canada at-the-brink. Full Story
By: John Browne, Senior Market Strategist, Euro Pacific Capital - 22 April, 2010
From all outward appearances, it seems that a grim chapter in U.S. economic history has come to an end. Newsweek magazine declares that "America is Back," government statistics indicate revival, and our stock market has put in a rally for the record books (by rate of ascent, not highs - we are still more than 25% below the 2007 peak). Full Story
By: Jeff Clark, Senior Editor, Casey’s Gold & Resource Report - 22 April, 2010
Here at Casey Research, we eagerly awaited the release of quarterly reports from the companies in our favorite sector. Why? The gold price was substantially higher last quarter than during the comparable meltdown quarter of 2008, so we were anxious to find out if it would lead to a spike in profits. Full Story
The need is urgent. The recognition is broad. Supply & Demand of American debt paper demand price adjustment. The USGovt avoids the topic like the plague. The billboard fact of the matter, as USCongressional politicians like to say, is that the USDollar must be take a downward revaluation of significant magnitude in order to even begin to offer a semblance of equilibrium and balance. Natural forces are aligned against those in power who resist the adjustment. Imbalances are too magnificent. They invite continued global revolt and financial insurrection. Full Story
By: The Energy Report and Gordon Monk - 22 April, 2010
In this exclusive interview with The Energy Report, Gordon Monk of Performance Capital Advisers discusses the worldwide movement toward green sources for energy production. Gordon explains how cobalt and lithium are linked to solar and wind power. He also talks about why he prefers primary producers of cobalt to those that obtain cobalt as a byproduct of other operations. Full Story
Genuine optimism about the future in the midst of the unfolding global financial crisis is a tall order. An abrupt reversal of fortunes for international free market capitalism has stunned advocates of the wisdom of markets to reward success and punish failure. The unprecedented growth of crony state capitalism in response to the global crisis is troubling for advocates of free markets and liberty world over. On the other hand, the advent of digital gold currency (DGC), the secure high technology gold money available over the Internet portends a bright future. Indeed, the future of DGC as the world’s emerging reserve currency is growing brighter by the day. Full Story
A lot of noise is being about the economy improving and even if things do continue to get better, there is a rather strong head wind building in the horizon. Interest rates have been slowly but surely rising over the past few months and given the current trend, it appears that the bond market has nowhere to go but down. Full Story
By: Richard Daughty, The Mogambo Guru - 22 April, 2010
John Embry of Sprott Asset Management is one of the really “tuned in” people of the world, in that he knows so much that he actually knows who I am! I know this because when I called him on the phone and said, “Hey! John! What’s the poop about gold and can you loan me a few bucks?” I think he said, “It’s that Mogambo idiot” right before the line went dead. I’ve arrived! Full Story
We raised the possibility here yesterday that Goldman’s legal woes would drag on for years, ultimately threatening the uber-bank’s very survival. It’s not hard to imagine that all who have invested in Goldman deals that went sour will smell blood and join in the attack. It’s just the excuse many city and county treasurers will be looking for as their own financial problems multiply. Full Story
It is my opinion that the primary short-term key as to where gold is headed has to do with how the Eurocurrency (Euro) is impacted by Greece. The Euro’s next big move seems to be tied to what the representatives from Greece, the European Union and the International Monetary Fund work out in terms of a recue plan for Greece. Full Story
By: The Gold Report, Marshall Berol & Malcolm Gissen - 21 April, 2010
Many investors have become impatient with waiting for returns over the long term. Encompass Fund Founders Malcolm Gissen and Marshall Berol say they still invest for the long term, but acknowledge that the long term is now shorter than it used to be. Malcolm and Marshall have been very successful with that strategy, scoring a 137% increase in their fund in 2009. In this exclusive interview with The Gold Report, they discuss how they choose companies for their fund and a new way to play the rare earths sector. Full Story
While talking heads and economic pundits scream that somehow precious metals are bubbling, the markets are saying the opposite. When investors break out the calculator and look to decipher the data, they'll find that there is no bubble at all. In fact, investors are largely underweighted in gold and silver in their own portfolios. Full Story
SOME COMMENTATORS are alarmed that the amount of 'physical' gold in London is not sufficient to meet the immediate demands of the market. This concern is based on a simple misunderstanding. Read what follows and you will have a much better idea of how gold futures, forwards, the spot and physical markets interact. Full Story
In recent commentaries, we’ve focused on the macro factors that will drive acceleration in the precious metals sector. Namely, the gradual exodus from both government and corporate bonds as authorities are forced to monetize debts in an effort to avoid rising interest rates, which would hasten default and bankruptcy. This, and not bank lending or consumer demand, is the cause of severe inflation. Full Story
By: Bob Chapman, The International Forecaster - 21 April, 2010
Criminality reigns and the games go on. We recently saw the games of fraud explicitly displayed by the antics of Lehman Bros. They kept bad assets off the books by dumping them into what is now known as swap 105’s. What is stunning is the SEC was on the scene and new exactly what was going on; as did the NY Fed, guided by our current Treasury Secretary tax cheat Tim Geithner. Full Story
The dollar as expected has mounted a very strong rally, and it just missed its target of closing above 82 on a monthly basis by a few points. It did, however close above 81 on a monthly basis which indicates that it is going to trade higher before a top is in place. As long as it does not close below 78.00 on a weekly basis, the odds of it trading to the 85-86 ranges are rather high. Full Story
By: Richard Daughty, The Mogambo Guru - 21 April, 2010
The news about the beleaguered consumer is that the latest report is that overall consumer credit declined at an overall annual rate of 5.5% in February, although revolving credit (like credit cards) went down at an annual rate of 13%! Full Story
Now we learn that the SEC split 3-2 over whether to go after Goldman Sachs in court. Supposedly, the regulatory agency prefers unanimous votes when bringing enforcement actions against the firms it regulates. Why the exception this time? Full Story
Prime Minister Gordon Brown, who will face a tough battle in the upcoming elections, has two nicknames in the British press-- “Golden Brown” and “Goldfinger Brown.” Since anything pertaining to gold is of interests to us at Sunshine Profits, we looked into why the Prime Minister has such monikers. Does he perhaps have a Midas touch? It turns out that quite the opposite is true. Full Story
By: Marin Katusa, Senior Market Strategist, Casey’s Energy Report - 20 April, 2010
The latest buzzword on investors’ lips is shale, and it’s everywhere. Shale gas production is rapidly growing, and the domino effect of unconventional gas development on the global energy market is staggering. Full Story
By: Steven Saville, Speculative Investor - 20 April, 2010
Most mainstream financial journalists try to link the daily market action with the news of the day, as if the markets did nothing other than react to news. In general terms, they make the assumption that if a market fluctuation coincided with or followed a news event, then the news event must have caused the market fluctuation. Full Story
By: Richard Daughty, The Mogambo Guru - 20 April, 2010
Thanks to Bill Murphy and the Gold Anti-Trust Action (GATA) committee, the slimy, market-manipulating goings-on in the short-selling of gold futures and silver futures to suppress their prices at the CFTC have pretty well been exposed, and about time, too. Full Story
We used to joke here that it might take a nuclear war to end the bear rally begun nearly 14 months ago, but we’re starting to wonder whether it’s actually true. There was a time when a one-two punch of exceptionally bad news such as occurred last week would have knocked the stock market for a loop. There was a natural disaster in the form of a volcanic eruption in Iceland that brought air travel throughout Europe practically to a halt. Full Story
By: The Gold Report and Eric Coffin - 19 April, 2010
"News flow is really, really important. If you're going to play these kinds of stocks, especially if this is a sector you're not that comfortable with, you want to get in at the start or before the start of a drill program and not at the end," says Eric Coffin, co-editor along with his brother David of the HRA (Hard Rock Analyst) publications. In this exclusive interview for The Gold Report, Eric explains the importance of sniffing out upcoming news and timing in selecting potential resource investment opportunities. Full Story
The global financial maelstrom continues to unfold as public serpents, central banks and crony capitalists continue to pour gas on the fires. It is set to continue. The collapse of FIAT paper wealth storage is unfolding with breathtaking speed. Asset bubbles continue to emerge in the emerging world and collapse in the developed world as capital FLEES. Today’s missive covers the deep insolvencies in the developed world and the definitions of solvency of Austrian Economics. The inflationary depression still lies in our futures. Full Story
Germany is a nation that fears inflation for good historical reason, and among the nations of the world, Germany places a particularly high priority on price stability. Yet, so long as Germany remains in the European Economic and Monetary Union (EMU) with the euro as its currency, Germany may not be in control of German inflation. In particular, the current crisis with Greece, and the crises that may follow with other nations such as Portugal, Italy, Spain and Ireland may prove disastrous for German investors and taxpayers. Full Story
Is there a precious metals mania on deck directly ahead or will another deflation scare, which could curb demand for gold and silver, bail out the bureaucracy yet again. Indeed the bureaucracy seems to have nine lives in this regard, with gold and silver still trading at half their respective inflation adjusted values running all the way back to 1980. Full Story
Alas, poor gold bug; I knew him Horatio. He had the brains to be perfectly positioned in the great gold bull market of 1999-2020. Yet he did not make any money from his wisdom. Take, for example, the sell-off of April 16, 2010. Gold was just about to make another powerful move to the upside. But the sell-off scared him away, and he missed the move. What was it that he did wrong? Full Story
The gold market has been heating up and conditions are moving into an alignment which is ideal for a gold price rally this year. Fear and uncertainty will drive the price northwards even if the current CTFC saga does not eventuate in immediate disciplinary action or regulatory change. Full Story
“Black Swan flight 10 is arriving at gate B5.” One of my friends works for United Arab Emirates Airlines and has been stranded in a European airport for the weekend because of the volcanic ash from Eyjafjallajokull. According to Eurocontrol about 80% of normal flights have been cancelled. This is a visual representation of the dark clouds looming over the global economy. Full Story
The current price of ounce of gold in real money is about 62.95 ounces of silver. If you look at the long term chart you will see that the highest price was about 100 ounces of silver and the lowest about 14; this is quite a ridicules fluctuation in the ratio between two of the most stable metals and forms of money on this planet. This big fluctuation is not a reflection on gold or silver’s instability, but it is indicative of the flawed monetary system we have today. Full Story
I’ll start off with an analogy. Let’s say you just bought a business, a small restaurant. You open for business on Monday and after a week you have grossed $6000. You’re feeling pretty good about how things are going. The business is up and running. Dollar signs are floating in your brain. Full Story
The trading scars we all bear are reminders that the technical aspects of trading are very important to a short-term position trader. Survivors of the trading battlefield are the ones who learn not to fight the market. When the market isn’t doing what you expect, then it’s time to get cautious … to get defensive … until the “market comes to its senses” or until we do. Full Story
We’re too cynical to believe that the mere unmasking of Goldman Sachs & Co. on Friday as a corporate swindler caused U.S. stocks to weaken. Iceland’s ash-spewing volcano is where the real economic threat lies, we’re convinced. Full Story
1st Hour: Headline news & the Market Weatherman Report. Spotlight Stock Picks. Host Chris Waltzek & The International Forecaster discussion and listener's questions. 2nd Hour: - Arch Crawford, Crawford Perspectives - Bill Murphy, GATA & Lemetropole Cafe Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 18 April, 2010
We were right in believing that the € and gold will and are de-coupling. But far more than that is happening in the gold markets of the world. But the process is an ebb and flow process, with this week seeing gold move with the € and last week moving independently of both. What is becoming clearer and clearer to investors is the gold price should not move with the € or with any other currency, as there are few common denominators between gold and currencies. The erosion of confidence in currencies is far more pertinent to the gold price. Along that line of thought a look over the last year and more is relevant to the future of gold. Full Story
For a while gold looked like it was breaking out, but several of the important conditions for a successful upside breakout that were explained in the last update 2 weeks ago were not met and on Friday gold turned sharply lower. Although Friday's drop is thought to mark the start of a reactive phase, it is considered likely that it will prove short-lived as the overall picture for gold remains positive. Full Story
By: John Mauldin, Millennium Wave Advisors - 18 April, 2010
When you draft a 1,300-page "financial reform" bill, various special interests get language tucked into the bill to help their agendas. However, the unintended consequences can be devastating. And the financial reform bill has more than a few such items. Today, we look briefly at a few innocent paragraphs that could simply kill the job-creation engine of the US. Full Story
By: Bob Chapman, The International Forecaster - 18 April, 2010
One of the reasons for less bank lending is the almost non-existent market for securitized bonds. Investors have so many bad loans on their books that they refuse to commit to further risky investments. This means banks are forced to hold this toxic paper on their books and that inhibits them from lending at higher levels. Full Story
Bottom line: COMEX commercials strongly increase their short bets for both gold and silver, but less than we expected. Gold +1.5% and the gold LCNS increases 7.6%. Silver +1.5% and the silver LCNS increased by 7.2%. Full Story
By: The Gold Report and Paolo Lostritto - 18 April, 2010
In this exclusive interview with The Gold Report, Wellington West Analyst Paolo Lostritto explains why he thinks Burkina Faso is a part of the world gold investors should keep their eyes on. He compares Burkina Faso to the Yukon in terms of the potential for large finds. Closer to home, Paolo says South Carolina is an area where gold production could begin in the next couple of years. Full Story
By: The Energy Report and Michael Berry - 18 April, 2010
President Obama has called for the development of more nuclear reactors in the coming decades. Discovery Investing pioneer Dr. Michael Berry says for that plan to work, uranium has to be part of the solution. In this exclusive interview with The Energy Report, Michael talks about the need for more uranium mining in the United States. He also explains why right now an investment in energy metals is a safer bet than investing in industrial metals. Full Story
By: The Energy Report and Gianni Kovacevic - 18 April, 2010
"China is building an impressive amount of infrastructure," notes Kovacevic Consultants Principal Gianni Kovacevic, who forecasts continuing demand for, and increasing upside in, energy and resource stocks. in this exclusive interview with The Energy Report., Gianni explains how China's infrastructure boom will continue, presenting great opportunities for investors for some time to come. Full Story
By: Richard Daughty, The Mogambo Guru - 18 April, 2010
To show you how prescient I am, I had earlier written a column about how I was horrified at the thought that Janet Yellen – currently running the San Francisco, California, Fed Bank into the ground – would become vice-chairman of the Federal Reserve, mostly because I am repelled by her ridiculous brand of economics, an opinion borne out by how she has been consistently wrong all these years until, well, just look around you. And at California! Full Story
News of fraud charges finally surface and sent the particular stock as well as the markets in general into the toilet within seconds. Fleet footed traders made like bandits while Cramer looked to have seen a ghost and tried to talk the stock back up. He succeeded momentarily, but in the end nearly everything ended lower on the day except the US dollar and bonds which were bid up in the usual flight to perceived safety. Full Story
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