The news rocked the global gold market when an almost obscure line item in the back of a 216 page document released by an equally obscure organization was recently unearthed. Thrust into the unwanted glare of the spotlight, the little publicized Bank of International Settlements (BIS) is discovered to have accepted 349 metric tons of gold in a $14B swap. Why? With whom? For what duration? How long has this been going on? This raises many questions and as usual with all $617T of murky unregulated swaps, we are given zero answers. It is none of our business! Full Story
The previous weeks have been characterized by a steady pattern - USD Index is either plunging or is consolidating and it's likely to plunge within several days. The general truth is that no trend moves in any direction in the form of a straight line. Yet, so far the dollar tries to prove this saying incorrect by moving lower over and over again. Full Story
UK banks will soon be able to post raw loans – rather than securitized loans that have been bundled into asset-backed bonds – as collateral against short-term liquidity aid from the Bank of England. Full Story
By: Daniel Aaronson and Lee Markowitz - 23 July, 2010
Last week, the Federal Reserve released the minutes of its Open Market Committee meeting that concluded on June 23.1 Meeting participants were hopeful that the economic rebound would continue, yet a number of statements from the minutes highlight the slowdown in the US economy. Additionally, the Fed minutes note an increase in “fails to deliver” securities, which could signal that the limit of quantitative easing already has been reached because of a lack of liquid securities. Full Story
In sum, the Key to achieving Profit and Protection via our Primary #1, #2 and #3 investments (and others as well) is a Strategy: Successful Investors must become Long-Term Position Traders, with their trading choices informed by the Interventionals, as well as the Fundamentals and Technicals. Moreover, engaging in the Actions suggested above can help prevent The Cartel’s obtaining Superpower status, and aid in achieving Wealth Protection and Profits as well. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 23 July, 2010
Oil stocks have to be one of the most unloved sectors in the markets today. The recent general-stock-market and oil corrections combined with the incredibly-negative psychology spawned by the BP oil spill have driven oil stocks down to deeply-oversold levels. This swoon has also left this sector very undervalued, a barren wasteland strewn with great bargains for investors. Full Story
Less than 24-hours after President Obama signed the historic Wall Street Reform bill into law the SEC suspended the rule that makes the rating agencies more accountable for their ratings. According to the Wall Street Journal, as recently as June 30 the rating agencies thought that the provision for increased accountability had been omitted. They were wrong: Full Story
In what had to be the most grotesque piece of sociopathic blather dispensed in recent memory, Kartik Athreya, a cog in the criminal Federal Reserve machine issued an essay recently entitled, “Economics is Hard. Don’t Let Bloggers Tell You Otherwise.” According to Athreya, economics is just too difficult for anyone who has not taken “a year of PhD coursework in a decent economics department.” We agree that it is difficult to centrally plan an economy and artificially fix the price of money (interest rates). In fact, it is impossible. Just ask the Soviet Union. Full Story
By: John Browne, Senior Market Strategist, Euro Pacific Capital - 23 July, 2010
In the first few days of July, the prices of gold and silver appeared to break a five-month upward trend by drawing back about five per cent from the record June peaks. Despite many similar corrections that have occurred frequently during the long bull market in precious metals, pundits nevertheless looked to draw bold and significant conclusions from the drop. Full Story
By: The Energy Report and Mickey Fulp - 23 July, 2010
Apparently flouting the law of supply and demand and mystifying experts and analysts alike, depressed uranium prices present some excellent bargain-hunting opportunities for investors, according to Mercenary Geologist Mickey Fulp. In this exclusive interview with The Energy Report, Mickey shares some thoughts about the uranium space and says he's also keeping an eye on natural gas stocks. Full Story
By: Richard Daughty, The Mogambo Guru - 23 July, 2010
“Green Jobs Don’t Exist in a Free Market” was the headline for Tom DeWeese, writing at NewsWithViews.com, which is exactly right; the only jobs that exist in a free market are those supplying real demand for, as an example, hamburgers, pizza, fried chicken and tacos, which has resulted in fast-food restaurants supplying them to be located on, seemingly, every other block in the Whole Freaking Country (WFC). Full Story
Rich Cash, a wise and prolific contributor to the Rick’s Picks forum, as well as a blogger of note, has written insightfully and with good humor on a subject near and dear to our heart – i.e., the put-and-call game. Fortunately, we retired our powder-blue market-maker smock and badge (#K30) just before the Feds started using RICO laws to prosecute white-collar criminals. We were a scurvy lot, for sure, and Rich has captured the flavor of the game in a way that explains what drew so many of us sleazeballs to the options trading floor Full Story
The U.S. Commodity Futures Trading Commission (CFTC) today announced that it will begin publishing a new report that adds further transparency to the financial futures markets. The report, entitled Traders in Financial Futures (TFF), builds on improvements to transparency implemented last year that disaggregated data in the CFTC’s weekly Commitments of Traders (COT) Reports. Full Story
Few investment opportunities arise in our lifetime like silver. The stage is set for a silver price percentage gain of extraordinary magnitude! Forget the popular refrain of “Got Gold?” and make some additions to your portfolio to take advantage of the coming silver supernova! Full Story
If you’re a gold bull I think you realize that gold’s in need of an “event of some type” to move it along. While we have a weak economy, it doesn’t seem weak enough to create the type of hysteria seen nearly a year and half ago. I think it highly unlikely that the Eurozone Bank Test will come out so poor as to create a rush into gold. Full Story
By: Richard Daughty, The Mogambo Guru - 22 July, 2010
It was raining outside, and so I was stuck inside the house, listening to my family remind me that I was just a worthless, penny-pinching, hateful old man who loves gold, silver and oil more than I love them, which I hasten to add is not exactly true in all respects, but you gotta admit that gold, silver and oil will treat me very nicely as they soar in price along with inflation in prices because of the insane levels of money creation by the Federal Reserve... Full Story
A significant feature of fiat money systems is the privilege for the custodian to commit fraud, big fraud, gargantuan fraud, even counterfeit. Fannie Mae might function as the clearinghouse for numerous massive role programs with $trillion fraud behind each, hidden from view, especially since it was conveniently nationalized. Follow some other fraud schemes, right out in the open. Surely such recount only touches the surface, but these shenanigans are advanced forms of fraud. They are smoking guns of USTreasury fraud and counterfeit, with strong whiffs of monetization. Full Story
By: The Gold Report and Mike Niehuser - 21 July, 2010
Fascinated to see gold soar in a period of low inflation, Beacon Rock Research Founder Mike Niehuser won't be surprised if it crosses the threshold into 2011 at above the $1,500 price point. Whether it levels off or reaches new heights, Mike explains where to seek investment opportunities in this exclusive interview with The Gold Report. Full Story
GOOD JOB that gold bullion is just an inert lump of metal and holds no grudges. Because twice in the last decade, the value of gold in the Swiss National Bank's vaults has nearly halved as a proportion of its total reserves. Yet still it sits there, helping save the SNB's blushes when policy fails. Full Story
According to Commissioner Chilton, it seems clear that the new law abruptly alters the former debate of whether the Commission should adopt strict position limits in COMEX silver into what the position limits in COMEX silver should be. This is a remarkable transformation. Suddenly, it’s a question of what the position limits in silver should be and when they should be enacted, not if we should have them. Full Story
By: Bob Chapman, The International Forecaster - 21 July, 2010
Now mind you, the Federal Reserve, which Congress has now put in charge of our entire financial system, is the privately owned, and largely foreign owned, central bank of the US which has always operated, and which continues to operate, in total secrecy, and with zero accountability. So, after the Fed destroyed our economy with malice aforethought, it certainly must have made perfect sense to the apparent morons and village idiots in Congress to put the Fed completely in charge. Full Story
At the time of my most recent article, we had just begun the stock market rally out of the July 2nd bottom and I suggested the rally would be able to continue higher, which it did, until the SP-500 1100 level stopped it on 3 consecutive days. Since then, we have taken 45 points off the index and today began a successful rally from 1057 that ended the day at 1083. Full Story
Some commentators on the U.S. economy and the European economy are predicting that there will be "quantitative easing" soon. This is a euphemism for central bank inflation. I have been reporting for months that the present policy of the Federal Reserve System is to deflate the money supply. The chart of the adjusted monetary base since early March indicates this. Similarly, consumer prices have remained flat or close to it this year. Full Story
By: Richard Daughty, The Mogambo Guru - 21 July, 2010
When I saw that Illinois cleverly solved its budget crisis by just not paying its bills, I knew that the end is near, or would be, if we still had a dollar that was not a stupid fiat currency, because nowadays it would be child’s play for the Federal Reserve to just create as money as any state wanted! And they can do it in less time than it takes to tell you about it, too! Full Story
While we’re convinced gold and gold stocks are destined for much higher levels, buying when prices are low can mean the difference between a double or triple and a ten-bagger... a week in Malibu vs. a week in Milan. Full Story
By: The Energy Report and Geordie Mark - 20 July, 2010
You don't hear a lot of talk about uranium these days. It's just not as sexy as gold or silver. But with a host of reactors slated for construction, the sector is rife with opportunities. Full Story
Now we have new lows of 1178 (barely) and new buys for us, and new “sell everything” calls from many investors outside the community, and from within, sadly. Full Story
Quickly transitioning from archetypal American rock culture to the subject at hand, we look at the gold market and find all the familiar forces arrayed in their various familiar battle stances, with a few bullish wrinkles this time around. Full Story
Efforts are underway to undermine Switzerland’s rock solid reputation as a safe haven. The alpine nation, famous for its readiness against enemies with citizens storing military assault rifles at their homes, is under attack. The attack, however, comes from one of their own, the guardian of the Swiss franc: the Swiss National Bank (SNB). In any other country, a central bank may have the power to derail the currency; in Switzerland, however, efforts to undermine the franc may be more appropriately characterized by a Don Quixotian battle by a lone warrior, a warrior armed with a license to print money. Full Story
By: Steven Saville, Speculative Investor - 20 July, 2010
Strangely, many economists have a mental block when it comes to money. They just can't seem to get their heads around what money is, what the quantity of money should be, how the money supply should be measured, and how changes in the money supply affect the economy. Even the late great Milton Friedman had a mental block about money and unfortunately passed it along to most of his followers. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 20 July, 2010
What we need is more savings, more free enterprise, more production, and a return of American competitiveness in the global economy. Yes, we need Rosie the Riveter - but this time she has to work in the private sector making things that don't explode. To do this, we need less government spending, not more. Full Story
For the purposes of this discussion we will concentrate on the intermediate and daily cycle, after a quick explanation of the two larger degree cycles. Full Story
By: Richard Daughty, The Mogambo Guru - 20 July, 2010
Those of us who are now called “gold bugs” will soon be referred to as “genius rich persons who must be obeyed” because we bought gold, silver and oil while the rest of the world got laughably infatuated with paper assets, which top scholars will tell you shows why the word “infatuated” sounds sort of like “flatulence” in a secret-code kind of way... Full Story
The weather could become Topic A around here if the markets get any more boring than they have been. Yesterday’s snooze fest was impressive in one respect, though: It demonstrated that the Dow can fall 265 points, as it did on Friday, and wake up Monday morning with no trace of a hangover. Full Story
With the inviting California surf a stone's throw from his office, Global Resource Investments Founder and CEO Rick Rule is always generous in sharing his wit and wisdom. In this Gold Report exclusive based on his Friday webcast, he covers a lot of territory and provides plenty of tips for investors. That the markets will deliver huge waves of volatility as the secular commodities bull market continues its charge is a foregone conclusion, as Rick sees it. Read on to find out what he says you need to ride the high curls and stay out of the soup. Full Story
The productive elements of the US economy are caught between powerful financial interests, e.g., banks seeking speculative gains, political constituencies seeking entitlements and government entities at all levels whose budgets and deficits are too large compared to their revenues. All three factions are competing for the same economic resources and all three are net consumers of wealth. The triumph of any one faction or of any combination thereof, promises to erode capital and to encumber production and economic growth in the future. As a consequence, capital can be expected to flow away from the United States to other parts of the world. Full Story
Believe it or not but I have identified 72 economists, academics, gold analysts and market commentators who have developed sound rationale as to why gold could quite possibly go to a parabolic top of at least $2,500 an ounce to even as much as an unimaginable $15,000 before the bubble finally pops! Full Story
Many people today don't even realize it because anyone alive today has always lived under an artificial, non-free market financial system. No one even questions the fact that every country has a "central bank" and that every country outlaws any use of currency except for the one it produces. Full Story
By: Frank Holmes, U.S. Global Investors Inc. - 19 July, 2010
One of the best selling points for investing in emerging markets is growth potential, but like any other sector, this growth must come at a reasonable price. Emerging market stocks are cheap these days. The MSCI Emerging Markets Index has a 12-month forward price-to-earnings ratio of 10.8x, which is 15 percent below the P/E for the MSCI World Index. Full Story
A recurrent theme in my articles has been that our current economic system is intended to steal your wealth and that a vast amount of information being taught as economics is intended to justify this stealing and to trick you into falling for its program. 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: Robert Kiyosaki Arch Crawford Full Story
So let’s make this as clear as possible - if there is another market crash soon as expected, investors are going to do what they always do, which is go into blind panic and toss almost everything overboard, and that can be expected to include gold, silver and PM stocks. Yes, we fully understand that the fiat money system is rapidly approaching its nemesis and that gold is the ultimate safe haven and is set to soar as currencies become worthless, but that won’t help it much short-term during the crash phase, which is likely to result in a heavy reaction in gold back probably to its long-term uptrend support line. Full Story
By: John Mauldin, Millennium Wave Advisors - 18 July, 2010
I have been writing about The End Game for some time now. And writing a book of the same title. Consequently, I have been thinking a lot about how the credit crisis evolved into the sovereign debt crisis, and how it all ends. Today we explore a few musings I have had of late, while we look at some very interesting research. What will a world look like as a variety of nations have to deal with the end of their Debt Supercycle. We'll jump right in with no "but first's" this week. Full Story
It seems like we have been on the sidelines for an awfully long time now waiting for gold and silver to correct as it sometimes does this time of year. We thought gold was beginning to correct in our last full report two weeks ago and it has corrected a goodly amount in euro terms, but in U.S. dollar terms gold seems to be range bound. Full Story
By: Bob Chapman, The International Forecaster - 18 July, 2010
The crisis affecting Europe is nothing new. It goes back three years and the beginning of the credit crisis, 60% of the subprime CDOs, collateralized debt obligations, had been sold to European institutions. These were the mortgage bonds, which contained a variety of toxic waste, which the rating agencies, S&P, Moody’s and Fitch, in collusion with banks and brokerage houses, had sold as AAA bonds, when in fact their ratings should have been considerably lower. Full Story
It’s true that GLD’s assets just passed the $50 billion mark, and that it’s the second largest U.S. ETF. Yes, mints had difficulty filling orders when the Greek crisis broke. And yes, the gold price is up nine years in a row. Full Story
One of the most important contributions made in the science of market analysis is the series of equity market rhythms known as the Kress Cycles. The one who discovered these cycles, Samuel J. “Bud” Kress, has done for cycle theory what virtually no one else been able to accomplish, namely discovering a series of inter-related “hard” cycles that are all harmonically related and which provide an accurate context from which to view the past, present and future financial and economic climate. Full Story
By: Richard Daughty, The Mogambo Guru - 18 July, 2010
Lately, I have been hinting to my boss that I need a raise to do my job, and she has been hinting that she needs an employee to competently do my job, so you can see how we are temporarily at an impasse in negotiations. Full Story
Gold only fell 1.52% for the week with most of that coming mid-day on Friday. The late week push didn’t really do any technical damage with support still lying just above $1,180. Full Story
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