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Weekly Archive
By: Bill Bonner & The Daily Reckoning Crew - 7 December, 2007
-A perfect example of Plan B importance…an era that marks the end of an era…
-The end of the Dollar Era of the world monetary system…the topping out of Western Civilization…
-The correlation between GDP and energy…the cost of being rich is going up…and more! Full Story |
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 December, 2007
The gold price has not only been reacting to the absolute levels of the oil price and the fall of the $, but to the instability, uncertainty and downright fear in the Capital markets and the banking system. Two reasons why there is such a drama has been the activities of the “Carry Trade” and the resultant Capital Tsunamis, or even the complete lack of available capital [much as the shoreline pulls right back before the Tsunami hits]. Full Story |
By: Adrian Ash - 7 December, 2007
SO THERE IS TO BE no let up or truce in the war between debt and recession. The cannon-fodder of consumer credit – the battle-weary consumers themselves – must push ahead with the Christmas offensive. The United States, standing shoulder to shoulder with its partners in Britain, will stay in the trenches until the job is completed. Full Story |
By: Roland Watson, The Silver Analyst - 7 December, 2007
So despite fears of recessions or irrational exuberance in the commodity markets, we envisage one final profitable leg up for precious metals and energy before we enter a rather protracted period of counter moves. Full Story |
By: Adam Hamilton, Zeal Intelligence LLC - 7 December, 2007
Investing and speculating in gold stocks is a very risky business. While they tend to greatly leverage the underlying gains in gold during a secular gold bull, individual stocks face a wide variety of perils on their journey to legendary gains. As a scary recent example illustrates, sometimes these perils can be catastrophic. Full Story |
By: Bob Coleman - 7 December, 2007
My struggle in this ponzi scheme of Wall Street Finance goes much deeper. I ultimately ask myself where is this all headed. I could write a book on the daily manipulations and tactics that are used to keep this game going. But I want to take this into another direction. Full Story |
By: Rodney C. Cook, Ph.D. - 7 December, 2007
With the bi-polar behavior of the financial markets these past few months, it is sometimes best to remember back to when the unfolding of current events was seen only by the heretics. It is at this point in time where they had the least biased view of the history now being made. Full Story |
By: Deepcaster - 7 December, 2007
With the real U.S. GDP contracting at a negative 2% annual rate*, the overall demand for commodities by the world’s largest economy, the U.S. economy, can be expected to diminish, at least over the next few weeks or very few months. Full Story |
By: Nadeem Walayat - 7 December, 2007
The Bank of England cut UK interest rates on Thursday. One of the primary reasons for the cut was the credit crunch, and specifically its impact on the interbank money markets, which has seen interbank rates soar since the credit crunch exploded on the scene during August 07, due to the fact there is an increased risk of default and lack of liquidity despite subsequent liberal amounts of liquidity released by the US Fed and the European Central bank. Full Story |
By: Michael Kilbach - 7 December, 2007
Should we add to our metals positions? To help answer this question we ask ourselves important questions such as “what does the end of a bull market look like”? Clearly gold and silver have been in a bull market as their prices have roughly tripled from their lows earlier this decade. Full Story |
By: Gary Tanashian - 7 December, 2007
Both gold and silver look very healthy and on daily charts appear to be simply biding time and bleeding off the excess. I love confluence and with gold we have a daily target of 920 or so off of the forming symmetrical triangle in concert with the same target off of the weekly triangle we have been following. Full Story |
By: CHRIS POWELL, Secretary/Treasurer Gold Anti-Trust Action Committe Inc. - 7 December, 2007
GATA's requests seek not only any documents showing gold swaps but also any documents identifying the legal authority for swaps and any documents describing the U.S. government's policy for engaging in them. Full Story |
By: Peter Schiff, Euro Pacific Capital, Inc. - 7 December, 2007
Without question, the Bush administration’s mortgage rescue plan will exacerbate, not alleviate, the problems in the housing market. As the plan will sharply reduce the ability of new buyers to make purchases, it really amounts to a stay of execution and not a pardon. Full Story |
By: Jim Willie CB - 7 December, 2007
The gold price has stabilized. The flood of additional open interest to short gold contracts kept the gold price in check. It remains within the neighborhood of the critical 3/8-ths retracement area after the September breakout and the November established peak. Absurd pronouncements like that from Goldman Sachs of a gold decline in 2008 betray how gold is eyeing the 1000 level. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 7 December, 2007
If you want something else to show you that people are starting to get smart about owning gold and how this new demand is overwhelming the manipulation of gold by the Fed and the bullion banks, then a report from GATA.org is just the thing you need. Full Story |
By: Rick Ackerman, Rick's Picks - 7 December, 2007
A 200-point rally here, a three-hundred pointer there, and before you know it we’re going to be reading about how the Dow Industrial Average is once again at new record highs. We admit it, the prospect just kind of snuck up on us. Not that we would have been the first to notice, so busy were we weeding, watering and pruning our top-ten list of economic woes, any one of which by itself could trip the country into an economic depression. Full Story |
By: Mary Anne & Pamela Aden - 6 December, 2007
Huge moves have been taking place this year (see Chart 1). It’s a big deal but, with the exception of oil, not many people are paying attention. In fact, it seems like most people don’t really care, and that’s good for us. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 6 December, 2007
-Housing losses: three in a row and more to go…investing with the spirit of the animals…
-Bernanke the zookeeper…rate cuts are like red meat…silly old fools like King Canute…
-The importance of Plan B…in the safety of Krugerrands…a win-win for Washington…and more! Full Story |
By: Richard Benson, Specialty Finance Group, LLC - 6 December, 2007
As 2007 wounds down, it’s time to reflect on how bogus government statistics along with Wall Street media hype have impacted the psychology and perception in the financial markets. Sheer disappointment is one way to describe what the financial markets will experience as the existing belief in a Goldilocks economy is challenged by sobering facts and a hard landing, yet to come. Full Story |
By: Dudley Pierce Baker - 6 December, 2007
The precious metals markets are killing the prices of many of the junior mining shares. What’s happening and why are questions being asked by many individual investors as well as the most experienced analysts. Times like these are somewhat a mystery but yet an opportunity. Full Story |
By: Sol Palha, Tactical Investor - 6 December, 2007
In a short span of time the markets have already rallied from the lows as we envisioned. Data on Wednesday illustrated that the economy was stronger than expected and today the labour department reported that applications for jobless benefits dipped by 15,000 last week to a total of 338,000. Full Story |
By: Bob Chapman, The International Forecaster - 6 December, 2007
One of the largest secrets to understanding financial markets can be found in one of the smallest of these markets. This tiny key market which must be analyzed and understood in order to comprehend what is happening in all other markets is the market where the "barbaric relic" is traded. This is the market where the canary is caged in the large and extensive coal mines of financial markets. Full Story |
By: Ira Epstein - 6 December, 2007
The problem as I see it is this. The Subprime issues are not going away. In fact, more issues are in front of us due to the very large number of mortgages that are set to “reset” to higher interest rates starting in the first quarter of 2008. As they do so, more foreclosures are likely. Full Story |
By: Clif Droke - 6 December, 2007
The run-up in bond prices has been mainly a function of the insane fear that has gripped investors by the throat since last June. As bond prices have risen dramatically over the last five-and-a-half months, the level of investor fear has risen in proportion to prove that this is no ordinary rally. It is the result of investors seeking safety from the financial storms that have hit them in recent months. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 6 December, 2007
So what is the next step in a wage-price spiral? 'The country's 1.3 million-member civil-servants union has announced that it will look for a pay raise of 6% to 7% in 2008.' Hahahaha! Here we go again! Full Story |
By: Rick Ackerman, Rick's Picks - 6 December, 2007
One more thrust and the dollar will record its best rally of the year. We can’t tell you why the buck has strengthened, at least not yet, but our hunch is that it will prove to be just another correction in a bear market now almost six years old. In the meantime, the rally is having a commensurate impact on bullion, and on the price of crude, which has fallen below $90 after flirting with the $100 threshold for a few days around Thanksgiving. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 5 December, 2007
-Still looking like the tide has turned…bashing the dollar has gone prime-time…
-Who says you can't make money in hedge funds?…one smart fund has made more than 1,000 percent return betting against subprime home loans…
-A report from South Africa…Dr. Paul goes up against Big Ben…and more! Full Story |
By: Adrian Ash - 5 December, 2007
Tomorrow can only improve on today if yesterday's problems get fixed-up first. And yesterday's troubles – in this case, the mountain of idiot loans made to home buyers who just couldn't afford to buy – sit a long way from Hope Now's tax-funded solutions. Full Story |
By: David N. Vaughn, Gold Letter, Inc. - 5 December, 2007
Gold appears to have very strong resistance around 790, but I doubt it will remain in that range for very long. The next major resistance for gold appears to be around 815. And when 815 – 825 is crossed we will probably observe gold making new highs. Always remember its 2 steps forward then 1 step back. I can live with those statistics. Full Story |
By: Roy Martens - 5 December, 2007
The strange part is that while Gold and Silver have moved along quite nicely, mining stocks, especially the juniors, have had a rough year. There were gains followed by huge losses, with some of the junior stocks losing 50% of their value or more all while their fundamentals haven’t changed very much at all. Full Story |
By: Michael B. Clark - 5 December, 2007
Certainly, it seems like it should be that simple, but with precious metal bullion coins, it is not. The fact is that an ounce of a given precious metal -- be it gold, silver, or platinum – can, for a variety of reasons, cost either more or less than another ounce of the same metal in the same market. Full Story |
By: Nadeem Walayat - 5 December, 2007
Investors should realise one important factor about the Dow 30 stock market index and other similar general multi-sector indices that are made up of a limited number of stocks. The Indices are designed to exhibit the long-term inflationary growth spirals. In that in the long-run the indices will always move to a new high! Full Story |
By: Ned W. Schmidt,CFA,CEBS - 5 December, 2007
The business media keeps telling investors to remain faithful. Paper equities, despite their continuing under performance, are they claim the place to put your wealth. A broken clock is right twice a day, and that seems to beat the record of most of gurus appearing in the business media. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 5 December, 2007
So imagine my horror when I learned that there was no error! We are talking about a quadrillion freaking dollars! Instantly I knew that she was doing that on purpose to give me a heart attack! Full Story |
By: Rick Ackerman, Rick's Picks - 5 December, 2007
A guru is not going far out on a limb these days when he declares that the sky is falling. Real estate is in its worst funk since the Great Depression, and even the homebuilders are hard-pressed to say when things might turn around. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 4 December, 2007
-The teaser freezer…rescuing Americans from the evils of predatory lending…
-Easy come, easy go…true prosperity doesn't come from money…but from habits, ideas, and attitudes…
-The Economist quotes your fearless leader…what lies ahead for the U.S. economy in '08?…and more! Full Story |
By: Ed Steer and David Galland - 4 December, 2007
In the following report, Ed relates his meeting of Larry Lindsey, a former advisor to the president. Though anecdotal, I find his story quite telling in terms of the convoluted views government officials have on the economic situation in the U.S. And it only confirms what we of Casey Research have been saying for years: don’t expect the government to find a way out of the financial mess the country is in; instead, buy gold and safe gold investments for the rainy day that is sure to come. Full Story |
By: Theodore Butler and Israel Friedman - 4 December, 2007
Today, I am publishing two articles by my good friend and mentor, Israel Friedman, Long-time readers are probably aware that I consider Izzy the most intelligent man I know. For newer readers unaware of his background, Izzy immigrated to this country some thirty-odd years ago, became a citizen and raised a family here. I’ve been blessed by his friendship for most of that time. Full Story |
By: Eric Hommelberg - 4 December, 2007
If you are a believer in gold's future then these are the times to increase your gold share positions since the gold shares are still selling at fire sale prices. In other words, downside risk is low. Higher gold prices in the years ahead will lift the entire gold share sector but the most exciting rewards will come from junior mining companies making new discoveries. Full Story |
By: Steven Saville, Speculative Investor - 4 December, 2007
Last week's NovaGold news underlined the cost issues that are plaguing the gold mining industry. However, while the situation on the cost front is adding to the considerable angst that already exists within the ranks of gold-mining investors and is having an especially adverse effect on the demand for the most speculative gold stocks (the explorers and developers), it is important to keep the big picture firmly in mind. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 4 December, 2007
But for businesses, the prices they are paying keep going up, as the annual All-Items PPI inflation for October spiked to a 6.1% jump over this time last year. Food increased 7.1%, and Energy was up16.1%. Yikes! Full Story |
By: Rick Ackerman, Rick's Picks - 4 December, 2007
We always expected the Fed to pull out all the stops when the U.S. economy began to slip into the void, but we never could have imagined the spinmeisters would invent “mortgage welfare” even before recession had been officially declared. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 3 December, 2007
-A darker mood sweeps the world, as financial bombs continue to go off…none of our milestones were hit last week - but all is not lost…
-Observing a car accident of titanic proportions…dreaming of a golden Christmas…
-Another rate cut is inevitable - but will it matter?…college essay difficulties…and more! Full Story |
By: Brady Willett and Todd Alway - 3 December, 2007
Treasury Secretary Henry Paulson was trying to strong-arm the supposedly free markets again last week, this time catching headlines for his fronting of the government’s proposal to temporarily freeze interest rates on some troubled subprime mortgages. You have to give Mr. Paulson credit for having the bluster to constantly make media appearances – first to dispel contagion fears, then to announce that he was helping banks set-up an SIV bailout, and now to provide an update on his subprime bailout plans. Full Story |
By: Peter Grandich - 3 December, 2007
A dramatic, near parabolic rise from $640 to $840 is now rightfully being digested. As noted earlier, liquidity should dry up as we get closer to Christmas so I wouldn’t get overly concerned whether the next $25-$50 move is up or down. Just stay focused on what got us to this price, the fact that fundamental factors remain supportive, and the world still pretty much hates the shining yellow. Full Story |
By: Captain Hook - 3 December, 2007
What can I tell you, but I told you so. Finally, Europeans are waking up to the fact cake eaters on Wall Street intend to devalue their way out of their problems, as forecast here on these pages recently. This is because it’s really beginning to hurt, and it now appears the US intends to make the currency trade a one way event in postponing any pain like the stock market. Full Story |
By: Darryl Robert Schoon - 3 December, 2007
The role of gold in the collapse of credit markets is clear. The unraveling of today’s credit markets is due to the erosion of investor confidence in debt-backed assets. Falling confidence in debt will give way to chaos in the markets; and gold in its role as a safe-store of value has been the ultimate hedge against monetary chaos in any form at all times. Full Story |
By: Boris Sobolev - 3 December, 2007
Many resource investors had expected they would be able to retire when gold reaches its all-time high of $850. It appears that few, if any, were able to do that in November when gold finally touched that level. While gold reached an all-time high, few gold stock names managed to do the same. Smaller juniors mining companies, in particular, failed to live up to the expectations priced in by investors and remained laggards. Full Story |
By: Bob Chapman, The International Forecaster - 3 December, 2007
The credit massacre we are witnessing that began with the Fed, our banks and Wall Street with subprime and ALT-A loans has spread worldwide. Throughout Asia a massive flight to safety is underway as well as in Europe. Yields on 3-month deposits have fallen in some countries to 1%. If this isn’t a serious warning sign, we do not know what is. Full Story |
By: Clive Maund - 3 December, 2007
The first and most important point to make is that the strong advance by gold throughout September and October and into early November involved a breakout from a consolidation pattern lasting approximately 15 months, and is regarded as the FIRST UPLEG of a major uptrend. This being so the current retreat is viewed as a reaction, not a top, so the only question is how far it runs before gold takes off again to the upside. Full Story |
By: Clive Maund - 3 December, 2007
Silver’s attempt early last month to break out above its highs of last year is not regarded as a failed breakout, but rather as a preliminary breakout. The reaction since that time has completely neutralized the overbought condition and brought Stochastics back close to their normal oversold limit, as shown on the 6-month chart presented here, and brought it back to a zone of support at the top of the late September - early October trading range, so that the reactive phase is now believed to be close to complete. Full Story |
By: Merv Burak - 3 December, 2007
Well, Friday was five in a row. We had two previous five in a row down days this year. One was followed by a reasonable rally while the other was followed by a lateral move which then morphed into the Aug to Nov rally. Is there a rally ahead? Full Story |
By: Douglas V. Gnazzo - 3 December, 2007
Credit conditions are tighter because of the subprime mortgage contagion and the fallout there from. Of significance is the question: where did the tale of woe begin? What was that guys name – the maestro? Full Story |
By: radio.goldseek.com - 2 December, 2007
1st Hour:
Headline news & market forecast.
Spotlight Picks with big dividends.
The International Forecaster and Chris Waltzek answer listener questions.
2nd Hour:
-Senator Nancy Schaefer
-Mary Anne and Pamela Aden Full Story |
By: Lawrence Patterson - 2 December, 2007
Federal agencies have indicated that the accumulated trade debts of the United States have reached $9 trillion. This can be explained once one realizes that outsourcing of production jobs and manufacturing has gathered speed over the last twenty years to a point where we don’t make more than a nominal percentage of our own necessities. Full Story |
By: John Mauldin, Millenium Wave Advisors - 2 December, 2007
The markets rebounded strongly this week, bouncing off a 10% drop in the previous weeks. Is it a signal of renewed economic vigor? Or is it a dead cat bounce? This week we take a look at problems at the edge of the economy which threaten to derail not only the recent robust growth (at least in the statistics) but also the markets. And we start with a personal story which I think will help us understand the current situation. Stay with me here. Full Story |
By: Sol Palha, Tactical Investor - 2 December, 2007
If we look at a 50 year chart of the Dow the information it reveals is rather interesting to say the least. We decided to run the Dow against some of our proprietary indicators to see what might come up. We do not perform this analysis often because it’s very time consuming and mentally tiring. Full Story |
By: Clif Droke - 2 December, 2007
Like a raging inferno engulfing a dry prairie, a rumor has been sweeping the online financial community of late. The rumor concerns the recent low made by the Dow Jones Transportation Average and the supposedly bearish implication it has for the stock market in the coming weeks and months. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 2 December, 2007
Getting one's just desserts is an 'absurd situation'? Hahaha! But then again, it's perfect French stupidity and perfect ECB stupidity! No wonder he got the job! Full Story |
By: Rick Ackerman, Rick's Picks - 2 December, 2007
On another front, Gold unfortunately moved according to forecast, although it did not fall quite so far as the November 20 low, 780.50. We are counting on a show of support there but would rather see the February Comex contract rally get out of jeopardy by creating a bullish impulse leg on the hourly chart. Full Story |
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