By: Gary Dorsch, Editor - Global Money Trends magazine - 7 July, 2006
“Everything depends on proper listening. Of ten people who listen to the same speech or story, each person may well understand it differently; perhaps only one of them will understand it correctly.” The Fed’s June 29th communiqué on monetary policy was the most anxiously awaited decision this year. And when the dust had settled, the zig-zag Fed fooled traders who bet on a half-point rate hike, and pleased traders who expected a pause and a peak in the fed funds rate. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 7 July, 2006
Bernanke’s Fed has gotten themselves in quite a pickle...the economic weathermen are calling for clear skies - but we see storm clouds on the horizon...
How can consumers spend - when they aren’t earning more money?...the “rate straw” that threatens to break the camel’s back...
In some skewed way, Lay has beaten the rap...an expat shares why he chose to leave America...and more! Full Story
By: Peter Schiff, Euro Pacific Capital - 7 July, 2006
Evidence that foreigners’ patience is beginning to wear thin was seen in the sharp and broad decline in the dollar, especially against the Asian currencies, which are issued by America’s largest creditors. If this trend continues, it will not be long until dollar weakness spills over into the bond market and consumer goods, putting additional upward pressure on both interest rates and consumer prices, while simultaneously exerting downward pressure on employment and the economy. Full Story
In May 2005, President Bush traveled to the Bureau of Public Debt at Parkersburg, West Virginia, to prove that the idea of a Social Security trust fund is a myth. The “holdings” of Social Security stand at $1.7 trillion in treasury securities, which have been borrowed to cover the general budget shortfall of the U.S. This is the simple truthful explanation of the budget “surplus” during much of the Clinton years. The money borrowed from the Social Security system was applied to the general budget deficit, and therefore the general budget showed a “surplus.” Full Story
Although I have taken few steps personally to prepare for a possible bird flu pandemic, I have several friends who have been diligently attending to this grim task. One is a childhood pal from New Jersey who has been stockpiling food and water while attempting to round up a supply of Tamiflu and other medications, including herbal remedies whose use dates back to Roman times. Full Story
By: Julian D. W. Phillips, Gold Forecaster - Global Watch - 6 July, 2006
Will these prices prove deflationary or inflationary? Unless allowed to spawn inflation, growth will be the victim. Do not be surprised if the Fed quickly abandons its fight against inflation, so as to lower the real price of oil and keep the economy healthy. Full Story
The evidence indicates that Conventional Wisdom is wrong. In fact, there is substantial evidence that the Cartel of Central Bankers has substantial control over long-term rates as well as over the short-term rates which they explicitly and very publicly control. Full Story
By: Kevin Zeese & The Daily Reckoning Crew - 5 July, 2006
History has a way of taking off in her own direction...playing the “what if” game...
People aren’t really “created equal”...foreigners love/hate relationship with America... The debate continues...what does patriotism really mean?...and more! Full Story
I would also point out to Congress as I have to the Chairman of the SEC that a new derivative offered on the AMEX exchange, SLV from Barclay’s Global Investors, creates a linkage between any manipulation on the COMEX and the interests of shareholders protected by the SEC. Simply put, if a manipulation continues on COMEX to depress the price of silver through a concentrated short position, it is harming small investors in SLV whose price is pegged to the price of silver. Full Story
By: Richard Daughty, The Mogambo Guru - 5 July, 2006
The Mogambo Instant Summary (MIS) is that Fannie Mae is going down, down, down, and because the Fed and the Congress allowed it to get so big, big, big, Fannie Mae is going to take everything else down, down, down with it, too. Ugh. ****Mogambo sez: The way that the gold lease rates have just collapsed tells me that the gold market manipulators are going to try to manufacture a sell-off in gold. Get ready to do some bargain buying! Whoopee! Full Story
Which takes us—as pretty much every economic debate does these days—to the real question: If as a society we only have two ugly, seemingly mutually exclusive choices, how should investors play it? Hyperinflation means gold and land; deflationary depression means cash and long-term puts on banks and homebuilders. Full Story
I always try to engineer win-win situations, which is why I own a lot of gold investments and I have a lot of spare cash. If the gold price goes up, I’m happy. If the gold price goes down, I can buy more at lower prices, and I’m happy. It also makes it much easier to sleep well at night and not worry about what the gold price is going to do next week or next month. Full Story
Pamela Aden from the Aden Forecast shares her thoughts on precious metals, investing and the economy. You won't want to miss Pamela's views on the cyclical nature of the precious metals market and why she is extremely bullish on gold and silver.
David Garofalo the Vice-President and Chief Financial Officer of Agnico Eagle joins us. The Gold industry insider delves into the fundamentals behind the gold bull market. David is convinced that the uptrend in commodities is here to stay and discusses how his firm has positioned itself against a major threat facing mining firms today.
Bob Chapman tackles listeners questions and we discuss this weeks top market stories. Jack Chan and Bob Chapman are neck and neck in the GoldSeek Wizards ETF contest. Full Story
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