Investors should be gravely concerned about the future of their portfolios, according to a newly released report from Bullion Management Group Inc (BMG). The reason? Because today’s fiscal and monetary policies have set the stage for a wrenching period of currency devaluation, portfolio destruction and potentially devastating inflation. Full Story
Bailouts and Stimuli have afforded The Cartel a whole panoply of additional tools for Market Intervention which they did not possess three years ago. These tools make tracking “The Interventionals” ever more challenging. In sum, this report provides even more evidence of continuing Risk of Systemic Collapse, and of the beginning of the attempted implementation of The Cartel’s Nefarious “End Game.” Full Story
Here we go again. This week, Paul Krugman, the 2008 Nobel Prize winner in economics and the go-to guy for progressives who need a morale boost, launched another misguided attack on Austrian School economists. From his New York Times soapbox, he referred to the free-market Austrian "hard money" philosophy as a "zombie idea" that is inexplicably eating the brains of the voting public. Full Story
Monday morning I was greeted via my inbox with a Bloomberg report on Gold. Bloomberg has a series called “The Dark Side of Gold.” Its important to note this isn’t the first time the news organization has attempted a hit-piece on Gold. I wrote about this exactly one year ago and identified the cases and examples of Bloomberg’s gold bashing. Full Story
The Cabal masters set and control most commodity prices through the futures markets. Sometimes, they have trouble controlling some prices because of market forces at work—which can be called fundamentals. Gold is an example where the Cabal tries to force prices down. But the public has been buying gold for some time now to help boost prices up, contrary to the wishes of the Cabal manipulators. Full Story
By: John Browne, Senior Market Strategist, Euro Pacific Capital - 23 December, 2010
One of the founding myths of the modern global financial system was that governments, especially of the developed democracies, could borrow endlessly without consequence. But, with sovereign debt crises erupting across the globe, it appears that the umbrella of perceived safety has gotten smaller, exposing some benighted countries, like Greece and Ireland, to severely rough weather. Full Story
By: Richard Daughty, The Mogambo Guru - 23 December, 2010
As a paranoid and angry lunatic, I am always nervous and on the suspicious lookout for subtle signs of danger that I know are all around me because the foul Federal Reserve has created, and is still creating, So Freaking Much Money (SFFM), which means that the terror of ruinous inflation in prices is a dead-bang, take-it-to-the-bank, guaranteed certainty. Full Story
By: Rick Ackerman and Cameron Fitzgerald - 23 December, 2010
Here’s a man-bites dog story from Cam Fitzgerald, a frequent contributor to Rick’s Picks who lived for a while in Ethiopia. Cam paints a picture of an African nation that will be unfamiliar to many readers; for in fact, even though Ethiopia has only begun to emerge from poverty, its economic prospects are as bright as you will find anywhere on the African continent. To understand why, read Cam’s first-hand report. Full Story
By: Gary Dorsch, Editor, Global Money Trends - 22 December, 2010
Exactly two-years ago, - the world’s commodity and stock markets were caught in the grips of a death spiral. As revelations of the extreme magnitude of the sub-prime mortgage debt crisis began to surface, banks began cutting off funding to companies and other borrowers, despite efforts by governments and central banks to unlock jammed credit markets. Global cross-border lending by banks shrank $5-trillion in the last nine months of 2008, the sharpest fall ever recorded. Full Story
By: Bob Chapman, The International Forecaster - 22 December, 2010
There are some developments that are positive and one is the awakening of the public to what the Fed has been up too. The positioning of Rep. Ron Paul in the House and Bernard Sanders in the Senate should present formidable opposition to the elitists who run the Fed from Wall Street. More than 60% of Americans want to get rid of the Fed and that is positive. The Fed’s purchases of bonds over the last few years has suppressed interest rates and increased bond prices. Those low rates make quantitative easing easier. This monetization heads straight through the open doors of Wall Street to produce ever more leveraged profits in derivatives, options, foreign exchange, stocks and commodities and shorting gold and silver, in what is now nothing more than a vast casino. Full Story
For all those who watched the historic CFTC meeting December 16th on position limits, no, your eyes didn’t deceive you – the meeting ended strangely and abruptly. No vote was taken on the staff’s proposal and you should be scratching your head at what actually transpired. As strange as the sudden adjournment to the most important meeting in CFTC history might be, there was a wealth of knowledge and confirmation to be drawn from it. This meeting was perhaps the most significant and positive development towards ending the long-term silver manipulation that I have witnessed in my 25 year involvement. Silver investors should come away from this meeting with a strong conviction of how things will turn out. Full Story
One of the clearest reasons that ArabianMoney can offer for investment in gold is that the price has been going up for a decade but still shows no sign of the classic spike or mania stage. For almost always the top of a price trend is marked by a spike. Full Story
These days, it’s hard to draw any conclusion other than that the train is gaining speed on wobbly tracks perched over a rickety bridge. Most notably, unemployment has again risen – to 9.8% from 9.6% – very much not the direction things should be headed given the amount of money the government has pumped into the economy. The latest data shows that this nation of 310 million souls managed to add just 39,000 jobs in November. That, unfortunately, falls short of even keeping up with a population growth of about 1% – doing just that requires generating a net of about 250,000 jobs a month. As for eating away at the millions of unemployed and the many millions more who are underemployed… oh, well. Full Story
By: Richard Daughty, The Mogambo Guru - 22 December, 2010
Apparently, late last night, from out of the spooky darkness, there was a sound that woke up my wife, and so she woke me up, wanting me to get up and go see what it was, which I figured would probably end up with me confronting some desperate, drug-crazed burglar who will pull out a knife and stab me over and over. Full Story
By: Rick Ackerman, Rick's Picks - 22 December, 2010
Just when it looked like the alleged economic recovery couldn’t get any weaker without extinguishing itself entirely, the municipal bond market has gone to hell. And just like in hell, there is no exit – at least none that we can imagine. Here’s why: Municipal and state borrowers who are on the ropes must pay a premium to continue borrowing; this drives their budgets deeper into the red, causing ratings downgrades that in turn raise borrowing costs even more. Full Story
In our earlier essay, we saw how the silver-gold pair is ideal to bet on for mean reversion. We also saw how to make use of the mean reverting properties of any ratio. Continuing on that topic, we will investigate whether mean reversion holds true for the gold-silver ratio in particular. We will examine variables one should watch over when looking at regime changes (points where the mean is set to new values). We will also explore a simplistic trading strategy on the ratio based on some core parameters that determine entry and exit points. Full Story
What’s in your stocking? It’s four days to Christmas! Is it a selection of beautifully wrapped gold bars and gold stocks, or is it a toy US dollar photocopier wrapped in a pig’s tail? Full Story
The markets are so manipulated these days that it’s becoming increasingly difficult to gauge just what effect increasing interference is having, knowing in general all unnatural stimuli have decreasing impact the longer and more they are applied. Perhaps the best example of this at present comes from the bond market, where in spite of QE2 and a generous POMO schedule (every day now) that looks set to run in perpetuity, bond prices are falling. Full Story
Summing up, the long-term outlook for the white metal is bullish although the short-term appears unclear and very much mixed at this time - with a slight bearish bias. As the saying goes “when in doubt, stay out“. Any speculative positions in silver should be opened only by the most risk-tolerant Traders. Full Story
Two major market directional indicators are pointing in opposite directions, as our friends over at Agora Financial note today in the Five Minute Forecast. The Hindenburg Omen that predicts market falls based on an analysis of 52-week highs and lows was confirmed last week, while the Vix Volatility Index sits at lows not seen since the Dow’s last high: Full Story
ForEx jocks make or lose coin by guessing the direction of EUR/USD. Stock pick aces ride the wave and look good while trends remain in place. Commodity bulls can’t miss until the next miss is eventually driven home with a loud crash. It seems as if everybody is clinging to a conventional way of doing things, as if the world was not radically changed in and around 2001, and as if the old rules of the previous secular bull market still apply. They do not; it is the age of inflate-or-die, booms and busts. Full Story
By: Chris Powell and Adrian Douglas - 21 December, 2010
GATA Director Adrian Douglas, publisher of the Market Force Analysis letter, today published a letter he has sent to U.S. Commodity Futures Trading Commission member Bart Chilton, disclosing that even as the gold and silver short positions of U.S. banks have been declining over the last year, gold and silver short positions lately have been increasing dramatically among banks headquartered outside the United States. Full Story
By: The Gold Report and Alka Singh - 21 December, 2010
Frequently prospecting for new opportunities in natural resource-rich nations, Rodman & Renshaw Senior Analyst Alka Singh is just back from Argentina. The Gold Report caught up with her to sift through her thoughts on the precious metals industry. Her current objective is to seek out gold and silver producers with growth potential beyond the price appreciation of commodity metals. Full Story
By: Richard Daughty, The Mogambo Guru - 21 December, 2010
No matter how much I try to calm down, I can’t stop being angry about the unbelievable, towering arrogance of the horrid Ben Bernanke, chairman of the Federal Reserve, when he actually said, “One myth that’s out there is that what we’re doing is printing money. We’re not printing money. The amount of currency in circulation is not changing”!! Full Story
The Federal Reserve's recent shift to the direct purchase of long-term Treasuries carries far-reaching implications for domestic economic stability, potentially causing systemic fractures that could dwarf any short-term benefits to economic growth. Full Story
By: David Coffin & Eric Coffin, HRA Advisories - 20 December, 2010
This past July the TSX .V S&P index bottomed for the year around 1350, double its post Crunch base in late ‘08, on 75 MM of volume. The index has now passed 2100 and has days approaching 250 MM of turnover that have never been seen before. The gain of the past two years required five years to achieve from the bear market low at a similar level in 2000. Even though the Venture exchange is still a 1000 points shy of its pre Crunch peak range, the increasing turnover suggests interest in its listings continues to build. Full Story
Starting January, American workers will start to see changes in their paychecks as the Social Security tax break that was signed into law last Friday takes effect. Workers normally allocate 6.2% of their wages to Social Security on the first $106,800. This will be reduced to 4.2%. The Social Security tax cut is just one part of the package that was passed. Additional measures include extending benefits for the long-term unemployed and passing a lower tax rate for inheritance above $10 million (from the proposed 45% to 35%). Full Story
Right now commodities are where the action is in the financial markets. And the precious metals are where the action is in the commodities market. And silver is where the action is (for the time being) in the precious metals markets. Silver can be described as gold’s little brother. It lags along behind gold, underperforming for a long time. Then, all of a sudden, it comes to life, makes up all of its underperformance and goes on to exceed gold to the upside. Full Story
1st Hour: Headline news & the Market Weatherman Report. Spotlight Stock Picks. Host Chris Waltzek & Bob Chapman, The International Forecaster discussion and answer listener's questions. 2nd Hour: Peter Schiff, Euro Pacific James Turk, GoldMoney.com Full Story
By: Bob Chapman, The International Forecaster - 20 December, 2010
What the tax package proves conclusively is that the President, the House and the Senate have absolutely no intention of getting their fiscal house in order. We will address the lurid details later. There is no change in the policies of borrowing continuously in order to sustain current consumption and to keep the economy from collapsing. As far as we are concerned the hold up in the package was to load it up with pork and stimulus. Some call it bells and whistles – we call it irresponsible. The Fed and all the players are buying time and 70% of the public knows that and they are going along with it. Very few want to face the music. Full Story
By: John Mauldin, Millennium Wave Advisors - 20 December, 2010
How often did we as young kids go down the street kicking a can? "Kicking the can down the road" is a universally understood metaphor that has come to mean not dealing with the problem but putting a band-aid on it, knowing we will have to deal with something maybe even worse in the future. While the US Congress is certainly an adept player at that game, I think the world champions at the present time have to be the political and economic leaders of Europe. Today we look at the extent of the problem and how it could affect every corner of the world, if not played to perfection. Everything must go mostly right or the recent credit crisis will look like a walk in the Jardin des Tuileries in Paris in April compared to what could ensue. Full Story
Markets and pundits are celebrating the great tax deal “compromise” between the Obama Administration and the Republicans. A tax deal pitched as a compromise between the two-party duopoly that has been selling the United States into debt slavery for decades is not likely in the best interest of the country, or your bank account. The deal strikes me as a bit like a two-year-old eating homemade ice cream for the first time, believing it is the greatest possible pleasure on earth, with no earthly idea of how it stacks up against a honeymoon. Full Story
It is becoming increasingly difficult to divide the politics from the policy, but the new tax deal being negotiated between Congress and the White House will set the stage for serious economic stimulus (and inflation) in 2011 and beyond. Full Story
At the current gold to silver price ratio of about 47:1, silver is a low risk investment with a large potential reward. If you are interested in silver, then you know the bullish arguments. What I'm telling you here, is how to play the coming silver spike. Full Story
By: Michael "Woody" O'Brien ChFC - 20 December, 2010
It boggles the mind for econ geeks like me to conger just how affluent the average American would be now if we NEVER passed the Federal Reserve act and kept gold and silver coin and redeemable- for-precious-metals note dollars. The difference over the last 97 years is tens of trillions of dollars American consumers have been robbed of as prices went up BECAUSE the value of their fiat money went down. Worse yet, every trillion of fiat dollars created out of thin air bought a trillion of real assets that are owned by, you guessed it, Banksters. Full Story
By: Rick Ackerman, Rick's Picks - 20 December, 2010
It’s come down to this: Economically speaking, our very survival depends on how many flat-screen TVs, major appliances, sweaters and pearl necklaces are sold by Christmas. That, at least, is the apparent view of the mainstream media, whose obsessive focus on signs of a “green” Christmas has more than the usual whiff of desperation about it this year. Do they not trust the simple fact that the stock market has been rallying for nearly 21 months, or that the Dow Industrial Average is currently trading within 19 percent of its all-time high? If those are not signs of a robust economic recovery, then what would be? Full Story
The past week was surprisingly uneventful. With Friday’s quadruple witching day being near comatose. It was interesting to see early in the week some of the major winners for the year being sold off though, as traders booked profits for the year. Full Story
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