By: Peter Schiff, Euro Pacific Capital - 23 September, 2011
But our zombie economy does not need to be perpetuated by more QE. It must be allowed to die so that a living, breathing, self-sustaining economy can replace it. By feeding our addiction now the Fed is impeding the recovery. QE may goose the markets and provide a short-term boost to spending, but it will also increase debt and grow the government. This process exacerbates the structural imbalances underlying the U.S. economy, making what may be the inevitable crash that much more spectacular. Full Story
By: Adam Hamilton, Zeal Intelligence - 23 September, 2011
The grinding 6-week-old bottoming process following the stock-market correction is doing its job, shaking out all the weak hands. These traders who haven’t learned to suppress their own fear are selling low, disproportionately hammering popular sectors like commodities stocks. Excessive and unsustainable fear drives incredible bargains, including in oil stocks. They are super-oversold and very undervalued. Full Story
The bottom line is that our debt is already unpayable. Our bonds are junk. Our country is several orders of magnitude deeper into this mess than Greece. According to Laurence Kotlikoff, the net present value of our obligations relative to GDP is 14 times greater. Greece’s multiple is only 12. Yet we had people surprised when our debt rating was cut by one single notch. Full Story
Now that we are past the Fed circus we can get back to reality. But what is reality? Is it inflation? Deflation? A repeat of 2008? What matters is the message of the markets and the correct interpretation of the message. With regards to the mining stocks we are seeing a stark contrast relative to the rest of the stock market. This positive divergence has been strengthening and remains well intact despite Thursday’s sudden Fed-induced selloff. Full Story
When the airplanes struck the World Trade Center on September 11, 2001 (aka 9/11) the stock market had already been falling for over 18 months. The high tech/internet bubble of the 1990s had topped first with the Dow Jones Industrials (DJI) on January 14, 2000 followed by the NASDAQ on March 10 and the S&P 500 on March 24. By the close of September 10, 2001 the DJI was down 18 per cent, the NASDAQ had fallen an incredible 66 per cent and the S&P 500 was off 28 per cent from the highs of 2000. Full Story
By: Jeff Clark, Casey Research - 23 September, 2011
Let’s just admit it: we’re invested in gold stocks not just to make money, but for the chance to change our lifestyles. And with their lackadaisical year-to-date performance, one may begin to wonder if they’re still going to bring the magic. Full Story
By: Jeff Berwick, The Dollar Vigilante - 23 September, 2011
Times like these are why we are dollar vigilantes. Talk is incessant about a possible collapse of the European Union - something which we consider to be a certainty. They can let it collapse now or paper it over again and see if they can keep that dead man walking a little longer. Full Story
The year 2011 is in many ways a Year of Destiny. The year-to-date has seen revolutions in the mid East, natural disasters in the U.S. and globally, a debt crisis in Europe and the potential of another economic recession in the U.S. On the financial front the year 2011 has also brought on the beginnings of a new bear market which should carry us into the fateful year 2014 when the dominant long-term 120-year cycle bottoms. Full Story
PEOPLE THINK the gold price always goes up in a crisis, right until they find out it doesn't. And the reason that this now feels so much like the Lehmans collapse of three years ago is that, looking at the numbers alone, you'd think it was autumn 2008. Full Story
By: The Energy Report and Doug Casey - 23 September, 2011
The Western world's skittishness, skepticism and staunch opposition when in comes to nuclear energy won't stand in the way of its production elsewhere in the world. It will be full steam ahead in China, India and other developing nations, says Casey Research Chairman Doug Casey, and the Western world is tiny in comparison. In fact, "I'd say uranium is a great place to be for at least the next generation," he tells us in this Energy Report exclusive. With ever-advancing technology enabling economic recovery in places where it previously wasn't possible, he's also optimistic about natural gas and oil. Full Story
By: Rick Ackerman, Rick's Picks - 23 September, 2011
Don’t let this nasty shakedown in bullion scare you. For the record, we are quite confident that gold and silver will be back on track soon, bounding toward new record highs. But both may have a little farther to fall if forecasts disseminated earlier to Rick’s Picks subscribers prove correct. Specifically, we’ve been drum-rolling a possible 1709.20 bottom for Comex December Gold, and a 35.70 low for December Silver. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 22 September, 2011
In the first part of this series of articles we pointed out the developing banking crisis and why we felt that was happening. When and how gold will have a central bank-approved role depends on the political agenda on both sides of the Atlantic. Commercial banks are already harnessing their gold to lower the cost and availability of international loans! Since the first part of this essay, there have been dramatic banking developments. Each of these has brought gold close to the day when it will have an active role in the global monetary system. Full Story
Wow!! The billboard signals of extreme crisis are overwhelming. Three years of near 0% with no recovery. A full year of ample USTreasury and mortgage bond monetization with no recovery. Tons of cash aid deliveries to the big US banks with no recovery. Some key corporate nationalizations with no recovery. Oodles of errant stimulus programs with no recovery. Some important misdirection in home loan aid initiatives with no recovery. The US Federal Reserve admits it can do nothing more as a recovery remains elusive. The USGovt is paralyzed by disguised fascist warmongers opposed by disguised marxist collectivists, but intent on maintaining the status quo among bank fraud. An approved accounting fraud directive is kept in place to present a picture of bank solvency. Intermediate credit markets have come to a standstill. The US stock market is in tatters. The USTreasury Bond market is the only conventional rally at work. And with all these programs, developments, and events, the USEconomy moves toward a recession with relentless determination and purpose. Full Story
Bullion vaults are almost full according to a survey by Bloomberg of global gold depositories. These are the highly secure facilities that any serious investor should use to store their gold and silver. Keeping it at home is a very bad idea. Full Story
By: The Gold Report and Brien Lundin - 22 September, 2011
Downgrades for U.S. debt, austerity programs across Europe and political uncertainty all point to a continued uptrend in gold prices according to Brien Lundin, publisher and editor of Gold Newsletter. For long-term investors, Brien Lundin says in this exclusive interview with The Gold Report, small-cap, precious metals equities are one place to take advantage of the coming upward gold price trend. Full Story
By: Rick Ackerman, Rick's Picks - 22 September, 2011
The dollar looks primed to move significantly higher, implying that U.S. stocks and precious metals will remain under pressure for the foreseeable future. That doesn’t necessarily mean Gold and Silver cannot continue to rise against all currencies nonetheless, since the global monetary blowout that has caused them to ascend for more than a decade shows no sign of abating. However, whatever strength bullion musters in the weeks and months ahead will in dollar terms be tempered at least somewhat by a resurgent greenback. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 21 September, 2011
The speaker following me, George Clooney, will be able to tell you what it's like to be handsome, talented, rich, and famous. I could tell you what it's like not to be. But instead the conference has asked me to talk about gold, which at least might make you rich, or help you preserve some of whatever you've got. Full Story
By: Bob Chapman, The International Forecaster - 21 September, 2011
One of the greatest detriments to job creation in the US is the overseas income deferral law. This unbelievable gift to transnational corporations is at the heart of free trade, globalization, offshoring and outsourcing. Presently these corporations are sitting on $2.2 trillion in untaxed profits, which is costing the American taxpayer almost $800 billion in lost tax revenue if like in 2006 they are allowed to bring the funds back at 5-1/4% taxation.n Full Story
As many of you already know I expected the dollar index to put in a major three year cycle low sometime this year. The normal timing band would have been for a bottom in the spring. The recent breakout and move to new highs has confirmed that the May bottom did in fact mark the three year cycle low. As expected that also marked the top of the cyclical bull market in stocks. Full Story
In 2008, the global financial system faced a potential meltdown when funding seized up for investment banks, ultimately leading to the failure of Lehmann Brothers. Three years on, we have got plenty of problems, but – as we shall argue - investors may want to differentiate between a financial meltdown and insolvency. While complaining about policy makers and bankers may generate animated water cooler discussions, let’s take their human (and fallible) nature as a given, and discuss implications for investors. In this context, we assess the U.S. dollar, currencies and equities. Full Story
Mrs. Cox is the chief executive of England's Alliance Trust investment fund. She has dismissed Europe's attempts to solve its debt crisis as "economic cosmetic surgery", warning there is "more pain" to come over the next few months. So we read in the London Telegraph. The media are beginning to smell blood in the water. Like sharks, they are heading for the source: the European Monetary Union (EMU). Unlike an emu, the EMU cannot move very fast. But like the emu, it turns out that it cannot fly. Full Story
By: Jeff Berwick, The Dollar Vigilante - 21 September, 2011
Gary North makes some good arguments. And he very well could be right. But historical evidence, common sense and the amount of current US debt makes stopping this train towards hyperinflation a lot tougher job than it looks. We aren't counting on it. Even if all we have is "mass inflation" our portfolios, heavily laden with gold and gold stocks will do very well. Full Story
The Federal Reserve may engage in what has been mocked by investors as “the twist,” a bond buying program intended to reduce long-term borrowing costs by soaking up long-dated Treasury issues. Of course, no matter the short-term goal, the real goal is to monetize the entirety of the US debt loads. Full Story
By: Rick Ackerman, Rick's Picks - 21 September, 2011
Ahhh, it’s those old Greek worries again! Yesterday they were blamed for undoing a nearly 150-point rally in the Dow, although the question of what had caused the rally to begin with seemed of little concern. We’ll proffer the usual, technical explanation: Yesterday’s ups and downs were driven entirely by mechanical factors – more specifically, by algorithm-driven machines with nothing on their tiny digital brains but a bunch of zeroes and ones. And if they had a smattering of human help, the humans were wont to apply the same tried-and-true tactic that has carried the day for the hedgies time and again in recent months – i.e., letting the index futures fall on thin volume, exhausting sellers overnight; then, goosing said futures into a short-squeeze panic ahead of the opening bell. Full Story
LOTS MORE to share from the second and last day of this year's LBMA Annual Conference here in Montreal. But the red-eye for London won't wait, not with Air Canada cabin staff starting a strike at midnight. Full Story
By: David Galland, Casey Research - 20 September, 2011
Tune into CNBC or click onto any of the dozens of mainstream financial news sites, and you’ll find an endless array of opinions on the latest wiggle in equity, bond and commodities markets. As often as not, you'll find those opinions nestled side by side with authoritative analysis on the outlook for the economy, complete with the author’s carefully studied judgment on the best way forward. Full Story
I believe that some college kids were called “preppies”, and some probably still are. I want you to get a little “preppy” about the gold and gold-related markets. Curling up in the fetal position and cursing banks and the government for not sending gold stocks and silver to the stratosphere is not going to help make you any richer, and it may harm you emotionally as well. Full Story
There is a significant chance that the Euro itself will collapse in the coming weeks or months. Although the highly likely Greek government default may act as the trigger, the collapse of the European Monetary Union (EMU) and its currency is a quite different event from a single minor member defaulting on its debts. As discussed herein, the potential rapid annihilation of what used to be a global reserve currency could lead to one of the fastest and sharpest redistributions of wealth in financial history. Full Story
I have been tracking the gold stocks since gold began to rise in 2001. I am a self-confessed screen jockey so I have seen every phase, quirk, lull and rocket ride this sector has had to offer over since it all began. I love the markets. There have been exciting explosive rallies for gold stocks; a new one has been long overdue. Full Story
European central banks have become net buyers of gold for the first time in more than two decades, a significant sign that the role of precious metals in currency markets is not only being reassessed but actually changing, reported The Financial Times, while there also is a campaign afoot to include gold as a Tier 1 bank asset with the Basel Committee on Banking Supervision. Full Story
By: Steve Saville, The Speculative Investor - 20 September, 2011
Economists of all stripes agree that debt levels are way too high, but only a small percentage of economists understand why the total amount of debt has reached such a troublesome magnitude. Most of them come up with explanations that involve something going wrong with the financial system. For example, one group believes that the root of the problem is inadequate regulation of banks and other financial institutions. The actual cause, however, is the design of the monetary system itself. The system has achieved exactly what it was designed to achieve. Full Story
By: Jeff Berwick, The Dollar Vigilante - 20 September, 2011
We are now entering the final stages of the collapse of the western financial system and the democracies and nation-states themselves. Faced with soaring deficits the western governments have been thrashing around looking at any possible way to stay alive a little longer as their tax milk cows become tapped out. Full Story
By: The Gold Report and James West - 20 September, 2011
James West has gone from writing the audacious and controversial newsletter Midas Letter to raising over $1 billion for a series of funds called Midas Letter Funds based in Luxembourg. The Gold Report caught up with James in Colorado Springs at the Denver Gold Forum, where he was searching for quality companies to include in his next newsletter. He agreed to sit down with us to find out how this juggernaut of rapid financial evolution came about, and where it is heading next. Full Story
By: Jeff Clark, Casey Research - 19 September, 2011
With gold a stone’s throw away from $2,000 and already up 27% on the year, the objective investor might begin wondering how much higher both it and silver can climb. After all, gold is nearing its inflation-adjusted 1980 high – and that peak was a spike that lasted only one day. Full Story
A few weeks ago we held our Case for Investing in Gold webcast with the World Gold Council’s (WGC) Jason Toussaint, who gave some remarkable insight into gold demand in the East. In these countries, gold is not only celebrated, acquired, worn or displayed during holidays or special occasions; it is seen as an everyday symbol of wealth. Full Story
By: Dr. Ron Paul, U.S. Congressman - 19 September, 2011
In January 2009, the administration claimed that if Congress passed a rush stimulus bill, the United States would be saved from economic catastrophe that was threatening to send unemployment figures above 8 percent. Government stimulus was the answer and if we cared about our country, we would set aside our reservations and do what needed to be done to pass the bill. Congress passed the bill. Unemployment continued to go up and has been well over 8 percent ever since. Full Story
TEN YEARS into the current bull market in gold, enquiring minds are gathered here in Montreal (along with a good number of traders, too) to ask how did we get here? What's driving the price higher? And how much further might there still be? Full Story
During 18 of the last 22 years, gold has rallied between US Labor Day and Christmas. Will the pattern this year follow the historical pattern? We will analyze the fundamentals, look at some charts and try to draw a conclusion. Full Story
The financial markets are currently anticipating additional Fed activity, whether it be QE 3 or Operation Twist 2 (more on this in a moment) or some other move, at its FOMC meeting on September 21. Full Story
My argument is that the “disappointing recovery” that began in July is nothing less than the exhausted temporary stopgap effect of stimulus, zero interest rates, and TARP, and not, as stipulated in the mainstream, the onset of a “double dip”, or “economic weakness”. The injection of upwards of $2 trillion U.S. dollars into the global banking layer that blankets national economies created the illusion of growth by manifesting as corporate earnings among banks and Fortune 500 companies. Full Story
The ongoing economic depression has the middle class behind the proverbial eight ball. Not only has it resulted in the deflation of housing values but the stimulus efforts of the last two years have resulted in increased retail prices. This is one of the important signs that the depression has a lot longer to run, for until we see a substantial drop in consumer prices deflation’s work isn’t done. Full Story
This is an important juncture for Gold and let me say the analysts. We are starting to see some disagreement on Gold and that is natural after a strong surge. It is a small part of the reason why Gold is likely to soon replicate its last move. We believe the market is ready for another big move that could leave many on the sidelines. It is somewhat of a contrarian call. After a 25% surge in less than two months its natural to assume its overbought and a correction is needed but the evidence favors another surge higher. Full Story
Obama has sent to Congress a 199-page jobs plan. Experience shows that all such plans are filled with stupid and unsound ideas. They all are abominations. Congress debates them and likewise ends up with an abomination. My jobs plan, which is a smart, sound and comprehensive plan, is breathtakingly simple: end the federal government. The reason is that this government has become too large, too complex, too powerful, too subject to special interests, and too intrusive. It is too totalitarian now and becoming more so. All of this is to the great detriment of most of those who live in America. Full Story
Gold got as high as $1,923 at the end of last month and has traded as much as $200 lower since then. Silver has been less volatile for a change and held steady around $40-42 an ounce. We had thought gold might pass $2,000 before this correction but that price will probably not now be seen until after the global financial crisis rather than immediately before it. Indeed, the prospect now is for more volatility and most likely a big plunge in precious metal prices when financial markets finally sell-off. Full Story
Headline news & the Market Weatherman Report. Spotlight Stock Picks. Host Chris Waltzek & Bob Chapman, The International Forecaster discussion and answer listener's questions. GUEST BIOS: Arch Crawford, Stockmarket Cycles Louis Navellier, The Little Book That Makes You Rich Full Story
Gold has fallen back over the past week as expected, but so far it has not broken down from its suspected intermediate top area, which would involve its breaking below the support shown on our year-to-date chart below. Friday's action was positive and it is entitled to stage a minor bounce early next week, as it is now not far above this important support level and the support at its rising 50-day moving average, and in addition the compression signaled by the high negative reading of the MACD histogram (blue bars) is calling for an immediate bounce. Full Story
I remain convinced that a nasty new cyclical bear market in common equities has begun. Now that Germany's stock market ($DAX) has dropped 35% from its May peak, there is little point in Wall Street trying to pretend that this is "just another correction/buying opportunity." The US stock markets have held up better than most, but this is about to change in my opinion. Full Story
By: Bob Chapman, The International Forecaster - 18 September, 2011
This past week in a grand deficit cutting bargain the Senate Finance Committee explored “Tax Reform Options Promoting Retirement Security.” The excuse is to make 401K plans more efficient; to keep Social Security afloat and to switch funds from these retirement plans to be used elsewhere by government. It is called a looting procedure. The idea is to replace the 401K with a tax break that would allow government to offer bigger benefits to low earners and changes in withdrawal choices at retirement. Full Story
By: John Mauldin, Millennium Wave Advisors - 18 September, 2011
What in the wide, wild world of monetary policy is the Fed doing, giving essentially unlimited funds to European banks? What are they seeing that we do not? And is this a precursor to even more monetary easing at this next week’s extraordinary FOMC meeting, expanded to a two-day session by Bernanke? Can we say “Operation Twist?” Or maybe “Twist and Shout?” Not many charts this week, but some things to think about. Full Story
I did a Google search for "paymaster Germany." I got over 34,000 hits. They refer mostly to the Eurozone crisis over Greek government debt, and the German government's willingness to tax Germans in order to keep bailing out the Greek government. Full Story
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