By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 24 July, 2009
For many years, accusations that JPMorgan Chase, Citigroup, Bank of America and Goldman Sachs have wide open and huge, exposed short positions against gold and silver, have been made by groups like GATA and others. In the United States these four banks control over 90% of the derivatives market. They too will be subject to "substantial supervision and regulations," including conservative capital requirements and strong business conduct standards. Full Story
By: The Gold Report and Ryaz Shariff - 24 July, 2009
Primevest Capital Corp. President Ryaz Shariff reaffirms his long-held status as a commodity bull in this exclusive interview with The Gold Report, telling us to expect significant upticks in the markets once demand resumes. He also talks about some of the value-creating catalysts he seeks among the investments he makes. High on his list are advanced-stage development explorers that could attract a sensible suitor or two from among the majors. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 24 July, 2009
In a Wall Street Journal op-ed on Monday, and in congressional testimony later in the week, Fed Chairman Ben Bernanke reassured all that thanks to his accurate foresight and deft use of the Fed's policy toolkit, he could maintain near zero percent interest rates for an extended period without creating inflation. With supernatural powers such as these, one wonders if Ben would be better employed by the Justice League rather than the Federal Reserve. Full Story
By: Daniel Aaronson and Lee Markowitz - 24 July, 2009
Below is a Bloomberg stock screen of Chinese companies listed on the Singapore Stock Exchange. These companies are known as the S-Chips. The stocks listed in the table have Wall Street analyst estimates for 2010. While the market caps are relatively low, they would be much higher if the stocks were revalued to PE multiples of even half of those seen around the world. Full Story
For excellent reasons, Messieurs Donaldson and Levitt, former Chairmen of the S.E.C. (and establishment figures par excellence), recently recommended that the private for-profit U.S. Federal Reserve NOT be The Systemic Risk Regulator, contrary to the unwise Obama administration proposal. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 24 July, 2009
Big round numbers are irresistibly alluring. There is some kind of psychological gravity about them that captures people’s attention. Remember when the Dow 30 first breached 10k (March 1999) or oil first exceeded $100 (February 2008)? These were major financial-media events that spilled widely into the mainstream consciousness. Full Story
Tens of millions of Americans had to be integrated back into a peacetime economy following World War II. America and its finest companies understood the importance of investing for their collective futures, and by the 1950’s, that social contract and the investment it provided helped launch one of the greatest booms in history, where America's industrial might was at its peak. Full Story
From 1776 to 1912 (136 years), the value of the dollar, relative to the Consumer Price Index, increased by 11%. A dollar could buy 11% more goods in 1912 than in 1776. Thus, if in 1776, you sat on your savings pile of $1,000,000 for 136 years, it would then be worth $1,110,000 in purchasing power (it will have appreciated in value by 11%). A loaf of bread for Thomas Jefferson cost the same as a loaf of bread for Lincoln 50 years later and again the same for J.P. Morgan 50 years after that. Full Story
The FED has changed enormously in the past nine months. Between last September and now, Reserve Bank credit has gone up 135 percent. Will the FED change back to what it used to be? Does it have a workable exit strategy? Very, very doubtful. Full Story
In the world of metals, the action is also bullish. Recently, copper has broken out to a new recovery high and this is an indication that the global economy may not be as weak as some suggest. Other base metals are also perking up and should rally further. This is a great time to invest in diversified mining companies which are trading at super-cheap levels. Over in the precious metals department, both gold and silver are concluding their usual, lengthy consolidations and if the bull-market is still intact (our view), then both these metals should rocket higher over the following months. Full Story
By: The Energy Report and Brien Lundin - 24 July, 2009
For the next few years, Jefferson Financial President and CEO Brien Lundin—who also hosts the New Orleans Investment Conference each autumn—is rather bullish on energy resources. He expects oil to hit or surpass the $100 mark, gives natural gas a "very good shot of at least doubling" and believes the rare earths elements sector is here to stay. Further, with a transition toward an inflationary environment underway, Brien tells The Energy Report readers that the worst of the financial crisis has passed and that the market "generally" won't test new lows. Full Story
Perhaps this reality in the present situation is beginning to soak in on people. This real world approach makes a thinking person turn to one of the most sure things of all--gold. A number of analysts and students of gold have begun recommending the purchase and holding of gold physically for the long pull. This seems like good advice. When the big collapse comes, gold will be one of the few things still holding value. Full Story
By: Richard Daughty, The Mogambo Guru - 24 July, 2009
There are those of you, whom I call “the overwhelming majority”, who are dissatisfied with my snotty-and-unshakable attitude about the price of oil, which I confidently predict will go up in price, a Fearless Mogambo Forecast (FMF) based on many, many things, the most important of which is the fact that I am a recklessly arrogant hothead who, unfortunately, is not as smart as... Full Story
Although two big companies, Microsoft and American Express, reported atrocious earnings yesterday after the close, we shouldn’t expect the news to slow the relentless rise of stocks for long. Investors were obviously blithely unconcerned about earnings on Thursday, showing their eagerness to buy stocks by pushing the broad averages to their most impressive gains in nearly two weeks. Full Story
A paradigm shift is underway, unrecognized inside the US kettle. Its water level is falling and its temperature is rising, even as fewer foreign born cooks stir its contents. The US banking and political leaders errantly pursue a path toward a return to normalcy, when all pathways have been washed out by powerful storms that to do abate and will worsen. Full Story
For 72 years, the building at the intersection of Bullion Boulevard and Gold Vault Road in Fort Knox, Kentucky has symbolized the financial strength of the United States of America. The United States Bullion Depository, better known as Fort Knox, is said to contain 147.3 million troy ounces of gold, over half the nation’s total reported gold bullion holdings of 261.5 million troy ounces. Full Story
By: Roland Watson, The Silver Analyst - 23 July, 2009
Or more aptly some items of news and rumors which may have an impact on silver (and gold). The first is clear enough and is not rumor. Next Tuesday (28th July) the CFTC will begin its hearings into discussing position limits in energy commodities as well as the exemptions some so called hedgers enjoy when they multiply their futures contracts even more. Full Story
World wide grain production is already down this year and there are some estimates which suggest that this year’s crop could come in 30% lower than last years take. One of the main culprits is drought, which has been a major problem in the last few years. However now we have an even more sinister threat. The story below clearly points out what this threat is. Full Story
Rep. Michele Bachmann (R-Minn.) speaking on the House floor: Now we've moved into the realm of gangster government. We have gangster government when the Federal Government has set up a new cartel and private businesses now have to go begging with their hand out to their local hopefully well politically connected Congressman or their Senator so they can buy a peace offering for that local business. Is that the kind of country we are going to have in the future? Full Story
In a recent international Bloomberg poll, Bernanke was rated by investors as the greatest central banker, the man who saved the world's economy. All it took was a doubling of the monetary base and $3 trillion – as of today – of government bailout money. Full Story
Monthly, weekly and daily charts are all about to move close together and when then happens be ready to buy gold and gold stocks (golden rockets). Technically speaking we are still a long way from the HUI monthly chart breaking out to the up side. But if this bullish price action continues our weekly and daily trading signals will reap big rewards as we enter gold early before the next leg (rally) higher. Full Story
By: John Browne, Senior Market Strategist, Euro Pacific Capital - 23 July, 2009
As 2009 moves past its midpoint, many market participants are briskly trying to forget the carnage of 2008 and the first quarter of 2009. But, before we get lost in the euphoria of the 36% Dow rally in the Spring/Summer of this year, a little hindsight is in order. In March, the Dow had plunged to 6,547, or some 53 percent down from its nominal 14,164 high in 2007. Despite the recent gains, we are still nearly 40% below the 2007 peak. This is a brutal truth that everyone seems to be ignoring. Full Story
There is no economy left to recover. The US manufacturing economy was lost to offshoring and free trade ideology. It was replaced by a mythical “New Economy.” The “New Economy” was based on services. Its artificial life was fed by the Federal Reserve’s artificially low interest rates, which produced a real estate bubble, and by “free market” financial deregulation, which unleashed financial gangsters to new heights of debt leverage and fraudulent financial products. Full Story
The question of the Credit Default Swaps is one of the most serious today and especially since it is receiving some media and political attention from the White House and Congress. I don’t propose to suggest that anything positive will be done about the problem. But at least, it is in the discussion stage. Full Story
By: Richard Daughty, The Mogambo Guru - 23 July, 2009
So, this brings us neatly to the point of all of this, which is to buy gold right now, because you will not be able to shoot your way out of a situation where 20% of the army is shooting at you, regardless of what the salesman at the gun shop said when he sold you all of this ordnance. Full Story
By: Gary Dorsch, editor of the Global Money Trends magazine - 22 July, 2009
Viewed from the outside, trading in the arcane world of foreign exchange might appear to be quite glamorous. However, attempting to anticipate the next major move in the Euro, yen, or British pound, can be injurious to one’s mental health or pocketbook, especially when schizophrenia often rules the day. Full Story
At the height of its late 2005 rally, natural gas in the U.S. was selling for just over $16/MMBtu, 350% higher than today’s price of $3.56. The oil/gas ratio, now over 18, is an all-time high… suggesting that natural gas is dirt cheap. So, it’s a buy, right?... Full Story
If this sounds like a rough and clumsy translation of Italy's proposed gold tax, you should see the original... THERE'S ONLY so many ways you can say "No" in Italian (just the one in fact), and the Bank of Italy has used them all in defending its gold hoard from Rome's over-spent politicians in the last 10 years. Full Story
Have you ever heard this argument? "The national debt is too high. We are laying an enormous burden onto our children." It is misleading. In what way? Because our children, like Atlas in Ayn Rand's novel, will shrug. They will send Congress a message: "No more." Full Story
By: Bob Chapman, The International Forecaster - 22 July, 2009
The US Illuminists are gambling big. This is the most dangerous part of their strategy, namely, how to take down America and the dollar without destroying themselves in the process, both financially and politically. They are going to get smoked. Even now the stock, bond and commodities markets are spiraling out of their control, and their new outrageous salaries and bonuses are about to be debauched as they are left holding the bag with huge positions in dollar-denominated paper assets. Full Story
Three years ago when I visited North America it was the television commercials for flipping and re-mortgaging houses that caught my eye as a worrying sign. This year watching TV at night in Vancouver it is the advertising for commodity exchange traded funds that catch my attention. Full Story
The shift towards a more positive mood became infectious last week, despite a continuation of at best mixed results from either side of the Atlantic. In New York the brokers were showing good Q2 results, but the bankers are still flushing cash away on an operating basis. Being able to gain on the decline of assets is aiding the traders, while the lenders continue to deal with the losses this creates. Full Story
By: Richard Daughty, The Mogambo Guru - 22 July, 2009
The Bureau of Labor Statistics reported that 467,000 jobs were lost in June, bringing total non-farm employment down to 140.2 million, which, although bad, could have been worse, as I personally haven’t been fired yet, which is the only good news in the whole thing, as far as I can see. Full Story
The stock market carved out yet another bowl-shaped formation on the intraday charts yesterday, making everyone who bought the dip a lucky winner. Stocks have swooned in four of the last five sessions and closed higher for six consecutive days, but yesterday’s swoon was a little more dramatic than the others. Full Story
By: The Gold Report and Brien Lundin - 21 July, 2009
With a number of factors coalescing in the not-too-distant future, the bulls will restore golden days for gold, according to Brien Lundin. As editor of Gold Newsletter, one of the world's oldest and most respected precious metals and mining stock advisories, he should know. With a transition toward an inflationary environment underway, he figures that the worst of the financial crisis has passed and that the market "generally" will not test new lows. In this exclusive chat with The Gold Report, Brien also says we may be surprised to see how quickly greed and speculation replace the fear and trepidation that have gripped the market for the past year or so. Full Story
By: Dr. Ron Paul and federal reserve chairman Bernanke - 21 July, 2009
Ron Paul questions federal reserve chairman Bernanke on HR1207 and on the definition of inflation during semi-annual testimony before the House Financial Services Committee. Full Story
Last week, I made the case that the level of the speculative position limit in COMEX silver was completely out of line with the level of the limits in all other commodities, including gold. I pointed out that, based upon annual production, silver had a position limit from five to more than sixty times greater than a wide variety of commodities, including gold, copper, crude oil and grains. In terms of world bullion inventories, silver’s position limit was more than 100 times larger than gold’s limit. Full Story
Green Shoots Everywhere! The credit crisis is over; an economic recovery is just around the corner! Hold your horses – there may not be enough water to nourish them at the next pit stop. Hold on – isn’t a bad decision supposed to turn into good policy when you back it by trillions of freshly printed U.S. dollars? Full Story
By: Steven Saville, Speculative Investor - 21 July, 2009
During April-June of last year we described the rapid growth in M3 money supply that was occurring at the time as a "major league false signal". We thought it was a false signal because it contrasted starkly with the performance of the monetary aggregate known as TMS (True Money Supply). Whereas TMS was suggesting that the rate of monetary inflation was relatively slow, and, therefore, that a deflation scare was a distinct possibility within the ensuing 12 months, M3 was pointing to an inflationary shock to the system. Full Story
Failing economic policies of the Obama Regime are setting the stage for the next significant rally for $Gold as massive debt monetization becomes necessary. Before going into that though, we need to understand the situation with the U.S. economy. That will allow us to understand how coming Federal Reserve actions will push $Gold above $1,000. Full Story
By: Richard Daughty, The Mogambo Guru - 21 July, 2009
I was surprised to see that the government made $81.4 billion in cash out of papers, inks, and base metals in the last year, taking the total Cash in Circulation (essentially the M1 money supply) to $907.4 billion, whereas the M2 money supply is about $8.3 trillion (9 times larger) and (saving the best for last) the M3 money supply... Full Story
Recently I discussed some of the reasons investors often fall short. Today I want to help bring clarity to your investment goals and also explain why gold should hold a central place in your portfolio. If you succeed in these two areas, you’ll not only prosper, you will also be prepared for the incredible changes and shocks that I believe are coming. Full Story
At the risk of sounding a little crazy in knowing the fundamentals are indeed ‘that bad’, this is a cautionary note to those who are short stocks to expect volatility moving forward, but not the kind you are hoping for. And hey, the technicals in the markets are no hell either. Full Story
Type "rubbish economist" into Google. Then hit "I'm Feeling Lucky"... The INCOVENIENT TRUTH about statistics, as Al Gore would no doubt confess if you threatened to stop him flying, is they look backwards, not forwards – and not even quite to the present. Full Story
Those at the center of power are often reticent to criticize others feeding at the same trough. It is left to those on the fringe, in this instance Rolling Stone Magazine, a reviewer of popular music, to state the ugly truth about what is happening at the center—that bank-holding company, née investment bank Goldman Sachs, engineered America’s serial bubbles in stocks, housing and commodities; and, has now profited immensely from both the bubbles and America’s subsequent collapse. Full Story
Alas, poor gold bug. Things are better than a week ago. Monday’s gap is explosive. But here you sit, with gold about to break above $1000 and make you rich. Yet you are torn with fear and doubt. When you look back at this period, you will think, “Why was I so scared? I made a beautiful play. I beat the stuffings out of all my friends. Why did I have such doubts?” Full Story
You have got to hand it to the masses who collectively make up the vast conventional financial apparatus. After becoming way too hysterical in their negative sentiment into March, they have got a really good story going now. 'Hope 09' in fact, lives on - perhaps to target (SPX 1010) or maybe even beyond target. Full Story
In the last three weeks a very important event took place that has been overlooked and misunderstood in the financial sector. The United States and the European Union have filed complaints against China at the World Trade Organization (WTO) on June 23 accusing Beijing of placing export restrictions on raw materials and partially processed raw materials critical to many industries. Full Story
The lag between monetary expansion and price inflation in the United States is about 3.5 years. The Fed started bloating its balance sheet about a year ago. Therefore, price inflation could really begin showing its teeth toward 2012. However, inflation expectations are a different animal. In the context of a major concern for fiscal sustainability and a prolonged period of elevated money supply by the Fed, inflation expectations can explode much earlier. It is quite possible that this could happen as early as next year. Full Story
On December 9, 2008, $65 billion of investor money was at peace. On the fear / greed seesaw that is said to characterize investor emotion, fear was down on the ground, while greed was high in the sky, having all the fun. Greed was earning a steady 1% per month, making fear look like an over-cautious fool. Full Story
By: Bob Chapman, The International Forecaster - 20 July, 2009
Due to a very successful second quarter, Goldman has set aside $226,156 per employee in compensation – a 75% increase per employee. That means annualized compensation could be $1 million per employee for the year. We find this of great interest inasmuch as the recently converted bank received a $10 billion taxpayer bailout via Goldman’s connections in Washington. Full Story
The current pattern is projecting that Gold is going to trade in a wide channel formation for several more months, possibly as late as the 2nd quarter of next year, though it is more likely to be until the 1st quarter of next year. This also coincides with the fact that the dollar and the bond markets are expected to rally into next year. Full Story
Today the world is struggling with an unprecedented economic collapse, caused by a mistaken decision taken almost 38 years ago. The distance of 38 years in time, in a world which is undergoing change at such a rapid pace as ours, is a great distance. Those who can remember the bad decision of August 15, 1971, and who can recall how the world worked before that date, are today at least 63 years of age. Full Story
By: John Mauldin, Millennium Wave Advisors - 20 July, 2009
We have avoided Armageddon, at least for now. The cost to the US taxpayer has been a few trillion. Some in the media are loudly announcing the end of the recession. But we are not out of the woods yet. There are a few more bumps in the road. Actually, some of them are quite steep hills. As big as the subprime problem? Maybe. Full Story
The vast majority of retail investors have “fallen asleep” on the broad market recovery since March. The sleepy character of market psychology has become even more pronounced in just the last few weeks as the market spent some time consolidating its gains. In that period of time we’ve seen quite a few analysts turn bearish on the market, which is usually a big mistake in a year when the dominant yearly Kress cycle is up. Full Story
One way to make a killing in gold is to forgo blueberry picking. I read an article in this week’s New York Times about two Swedish grandmothers who found, what experts say, may be one of the richest gold deposits in Europe. The blueberry crop failed that summer, so instead of looking for blueberries, as they did every summer, these amateur geologists went prospecting around their small village. Full Story
The rising tide lifts all boats, and that is exactly what we saw last week. Gold, silver, oil, natural gas, and stocks all put in a solid bounce last week. All our funds put in solid moves with GLD, SLV and GDX all breaking out of their down trend channels which is bullish. Full Story
The past week saw some major gains in the major averages helped by some good earnings by banks, which were offset by some major names disappointing in the earnings confessional. However it did not matter as traders remain giddy over any news that can be spun in a good light in any way, shape, or form at all. Full Story
The trend started to look good at the beginning of the week but petered out by week-end. Now, what’s next? Well, despite what I might have mentioned last week we just might be setting up a reverse head and shoulder pattern. Read about it in the short term section. Full Story
The headline atop the front page of this morning’s Boulder Camera suggests a city struggling diligently to balance its budget: “Work-Week Options Eyed”. Reading this, one might infer that the city is contemplating unpaid furloughs or some other means of reducing payroll outlays, right? That would be entirely appropriate, given that Boulder faces a $5 million budget shortfall next year. But that is not what the story is about. Full Story
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