By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 August, 2009
As part of a series we first look at this question: "If the U.S. decides to confiscate gold in the future, what impact might that have on Gold Shares and the COMEX Gold Futures prices?" Full Story
There’s a lot of Internet chatter these days about the possibility of the U.S. government seizing its citizens’ private gold holdings. What are the chances? Well, it’s always good to bear in mind that there is no telling what the government might do. It’s already doing things that were unthinkable just a few years ago. Full Story
By: The Gold Report and Brent Cook - 7 August, 2009
You don't hear a lot about "peak gold," but the fact is that great gold deposits are harder and more costly to find these days. Then getting the few finds into production takes more time and money than ever before. So why bother? Because the occasional success story makes it all worthwhile for the intelligent investor. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 7 August, 2009
There is an inexplicable, but somehow widely held, belief that stock market movements are predictive of economic conditions. As such, the current rally in U.S. stock prices has caused many people to conclude that the recession is nearing an end. The widespread optimism is not confined to Wall Street, as even Barack Obama has pointed to the bubbly markets to vindicate his economic policies. However, reality is clearly at odds with these optimistic assumptions. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 7 August, 2009
Among gold investors, the major drivers of the gold price are well-known. From mine production and central-bank sales to jewelry and investment demand, gold’s fundamentals have been and will continue to be extensively studied. But over the past year, a curious and sometimes dominating new gold driver has emerged. Full Story
By: Daniel Aaronson and Lee Markowitz - 7 August, 2009
The US stock market continues to power forward following the low reached in March. Momentum is gathering steam as investors are forced to participate, as analysts raise estimates, and as economists repeatedly say that the worst of the recession is behind us. However, so many problems still exist for the US Government, such as funding budget deficits, higher interest rates, inflation, and unemployment, that the probability of the problems associated with the unwinding of the largest credit bubble in history are behind the US is quite low. Full Story
Indeed, the Banking Crisis not only “started in Wall Street’s own backyard”, but it was, to speak politely, catalyzed in Wall Street’s own backyard. Understandably, Ms. Keenan underestimates the magnitude of the Funds transferred courtesy of the U.S. Taxpayer. In addition to the $10 billion in TARP Money, Goldman received $11.9 billion via the AIG Bailout our sources indicate. Full Story
By: Roland Watson, The Silver Analyst - 7 August, 2009
The fundamentals are in place for silver and gold to move higher. The ongoing issuance of US treasuries and further quantitative easing by the Federal Reserve inevitably point to continued dollar weakness. The interesting fact that the Fed stepped in recently to indirectly buy some of the auctioned bonds points to a decreasing lack of investor appetite for US debt. Full Story
A great question to ask is: what was the first important chapter written in nonsensical Economic Mythology? It gave powerful intellectual protection and coverage by economists, and resulted in widespread acceptance. The answer is clearly the break in the Bretton Woods Accord, when in 1971 Nixon broke the gold standard and permitted the USDollar to float on a cloud of arrogance and on a wave of liquidity that is best described as debt mixed with counterfeit. Full Story
By: David Morgan, Silver Investor - 7 August, 2009
The MFA for silver until recently was showing that it was going to outperform gold, which it has. Right now we’re at a point where the Market Force Analysis has to bust through a particular resistance level, and it’s right there at it, and it hasn’t broken through, whereas gold has actually moved off and started to show significant strengths. Full Story
The below slides are meant to explain fractional reserve banking as simply as possible using pictures. The presentation itself can be found here, and a written description and documentation in "The Money Matrix - How the FED Works (PART 6/15)". Full Story
While any number of things can go wrong for the Cabal and its present efforts to impose a limited, controlled deflationary collapse on America, a catastrophic earthquake or other natural disaster has to be on the table of possibilities. I can easily envision enormous problems for the Cabal if a huge natural disaster struck to bring on mass deaths, property losses, and damage on agricultural production and transportation. Full Story
By: Richard Daughty, The Mogambo Guru - 7 August, 2009
Thanks to Junior Mogambo Ranger (JMR) Joseph Z., who sent the Bloomberg article of the National Weather Service saying, “The high in New York City today is forecast to hover around 80 degrees, making it only the second time on record that June and July temperatures failed to reach 90,” which I take as proof that the world is not heating up, but instead is cooling down. Full Story
Cramer says commercial real estate has bottomed, and Abby Joseph Cohen evidently thinks we’re in a new bull market. The uncharitable thought, “Idiots!” springs to mind, but neither of these celebrated commentators lacks for brains, as we well know. Full Story
After hearing a lot of talk in recent days about hopeful signs for the U.S. economy and how it is vital that consumers regain their confidence in order for a recovery to truly take hold, it struck me once again that the U.S. economy, more so than most other economies around the world, is really just a "confidence game". Full Story
The UK’s Royal Mint doubled its production of sovereign gold coins in the first half of 2009 as British retail investors snapped up a hedge against inflation that does not attract capital gains tax as a coin of the realm. Full Story
The continued enthusiasm for metals can be tied to a combination of devaluation of the Greenback and hopes that western recessions are bottoming. The deteriorating US Dollar is an element that will have to be weighed against the demand picture for the next decade. However, western demand hasn’t been fundamental to pricing metal, or oil, for over a decade. Current enthusiasm, especially in light summer trading, should be treated gingerly. Full Story
By: John Browne, Senior Market Strategist, Euro Pacific Capital - 6 August, 2009
Anyone looking for thrills these days should forget roller coasters and skydiving. Instead, simply buy a few shares of U.S. stock. The past year has reminded us how truly stomach-churning the financial ride can be. And after a white-knuckled drop in 2008, investors who held on are now enjoying a dizzying ascent. Full Story
Last week I wrote that it was my belief that until proven otherwise, the peak in July prices was had been seen at 962.7. I was correct in terms of July but wrong in expecting that a pullback would be seen going into early August. Full Story
This week commodities have been moving higher which is exciting. Gold, silver, oil and natural gas all have bullish looking daily and intraday price action. Monday we saw commodities spike higher and profit taking Tuesday and Wednesday. I am expecting a sharp move here and it could be in either direction, so this report is to keep you on your toes. Full Story
By: Richard Daughty, The Mogambo Guru - 6 August, 2009
The wife and kids are whining that I need to give them more money because things cost more. Usually I just ignore them or politely tell them something like, “Go to hell, ungrateful parasites!” lock myself in the Secure Mogambo Bunker (SMB) and peer at them through the periscope until they go away and/or shut up. Full Story
By: Bob Chapman, The International Forecaster - 5 August, 2009
The stock market continues its bear market rally, which is very similar to the rallies in 1930 and 1932. What we are seeing at this stage of the rally is the shares of smaller companies and companies with low ratings outperforming better issues on low volume. 85% of the market has broken out above its 50-day moving average, but the quality of leadership is very questionable. After 50 years of observing markets we know from experience that these kinds of rallies at this stage end the overall rally. Full Story
We’re in the midst of the next stock market panic and no one is paying attention. Worst of all, it will be the type of panic that will take more folks by surprise and, in the end, will turn out to be more costly to most investors than last fall’s market sell-off. Full Story
By: Bill Bonner, The Daily Reckoning - 5 August, 2009
Is it time to buy a house? Depends… If you need a place to live and want to own a house, why not? Prices in some areas are fairly reasonable. But if you’re speculating, our guess is that you’ll get a better deal if you wait. Full Story
By: Richard Daughty, The Mogambo Guru - 5 August, 2009
I have, as part of my Official Mogambo Duties (OMD), spent many an evening at local bars, sampling various beverages and making goo-goo eyes at the barmaids while waxing loud and lyrical about the ludicrous extremes of fractional-reserve banking extant in the world today, a device where banks can loan out huge multiples of any money deposited, keeping only a fraction of the original deposit as reserves to insure against loans not being repaid. Full Story
By: Rick Ackerman and Chuck Cohen - 5 August, 2009
Last week, I explained why junior and exploration gold-mining stocks will be spectacular investments in the impending 21st Century gold rush. I will discuss specific stocks in the weeks ahead, but first let's talk about how to accumulate them. Because juniors are quite different from other stocks, the best approach to building a portfolio is to stick with a game plan formulated in advance. Full Story
As we all know, the Federal Deposit Insurance Corporation (FDIC) guarantees depositors that they’ll get their money back if a bank fails, at least up to a certain amount. To fund its operations, the FDIC collects small fees from the banks that are held in reserve for the purpose of taking over troubled banks and paying off depositors. Full Story
By: The Gold Report and The Gold Report - 4 August, 2009
Investors have been beaten down and battered over the last year. With correlations between markets continuing to shift unpredictably, many are uncertain about where to put their money. "It's been a strange year," says Eric Coffin, co-editor, along with his brother David, of the HRA (Hard Rock Analyst) publications. The good news, he says, is that it's probably not going to get worse than March; the bad—a bear market this deep almost always revisits the major bottom. Full Story
As I have been writing about for the past month or so, I think that big change is coming to the silver market. I believe that this change will be historic in nature. Since there are never any guarantees, I will present my reasons for expecting this great change in silver and leave it for you to decide on the merits of my argument. Full Story
By: Gary Dorsch, Editor, Global Money Trends - 4 August, 2009
The S&P-500 Index, a global bellwether for the world stock markets, extended its best five-month winning streak since 1938, by advancing through the psychological 1,000-level, and is up nearly 50% from its 12-year low set on March 10th. The S&P-500 gained 7.4% in July, its best monthly performance since 1997, even as average earnings per-share tumbled -32% and sales slid -16% from a year ago. Full Story
The man-on-the-street has been getting a solid education at the School of Hard Knocks. At the rate that our government has been spewing out dollars, the writing on the wall is that cash is quickly becoming a clunker, too. Full Story
This following article was an address by Rob Kirby at the Gold Anti-Trust Action Committee Inc., GATA Goes to Washington -- Anybody Seen Our Gold?, at the Hyatt Regency Crystal City Hotel, Arlington, Virginia, Saturday, April 19, 2008. The original address has been updated and added to since new information has come to light. Full Story
Right now, there are three popular initiatives underway which are going a long way to making this recovery a V-shaped one. But remember, there are two “V’s” in a W. And the next “V,” thanks to many unintended consequences, is shaping up to be a lot worse. Full Story
‘Its only castles burning’ – A piercing lyric central to a Neal Young classic and also an appropriate sentiment with respect to the paper castles burning in the world of finance these days. Whether it’s a result of inflation or deflation – value is being lost – paper is burning – to reflect the value that never was. Full Story
There is a very interesting article “Wall Street profits from trades with Fed”, published at Financial Times’ website last night. It confirms my long time suspicion on the reality and truth about “profit” announced by a few major Wall St. banks these days. Full Story
You might not be able to judge a book by its cover but you might be able to judge a bull market in gold by that way. The photo above was snapped in the shop window of a leading bookstore in Hong Kong last week, while ‘The Goldwatcher’ by John Katz and Frank Holmes sold out quickly at the Agora Financial symposium in Vancouver recently. Full Story
By: Steven Saville, Speculative Investor - 4 August, 2009
The conventional wisdom has it that the massive foreign currency reserve held by China's government is primarily due to the US trade deficit, and that the US economy will be in big trouble should China ever decide to stop financing the trade deficit. As is often the case, this piece of conventional wisdom is wrong. Full Story
According to the diligent statistical elves of Barron’s Market Lab, the amount of U.S. Treasury Gross Public Debt outstanding is $11.611 trillion. A year ago, according to the same elite statisticians, that value was $9.533 trillion. In one year, the true deficit of the U.S. government was therefore $2.0178 trillion. That, my fellow Gold bugs, is a true accomplishment! How does one spend Two Trillion Dollars more than one receives in a single year? Full Story
By: Richard Daughty, The Mogambo Guru - 4 August, 2009
The month of August 1971 is significant in that this is the month when Richard Nixon told the world, “Kiss my Fat American But (FAB), world, because although we Americans promised to maintain the purchasing power of the dollar against which all other currencies can maintain their value, too, we lied when we said that we would exchange gold for dollars to insure that we did what we said we would! Hahaha! Full Story
The S&P 500 Index played footsies with the 1000 barrier yesterday, but bears looking eagerly for a major top shouldn’t rely too heavily on the stopping power of this benchmark. One reason is that Dow 10,000, a marquee number with greater importance, is still 700 points away. Full Story
All this has happened before. In Britain after WWII, the (left-wing) Labour Party was elected. They brought in Keynesian advisors, printed money and depreciated the British pound. The pound collapsed on the foreign exchange markets and ceased to be the world’s reserve currency. The British Empire fell apart and Britain’s period of greatness in world history came to an end. Full Story
This week we have seen precious metals dip sharply, but briefly. Since the precious metals sector has moved higher rather rapidly in the middle of the previous month, such a correction is a healthy development and increases the probability of further gains. The existence of the bull market in gold is confirmed by the appropriate action in volume. Full Story
By: Boris Sobolev, Resource Stock Guide - 3 August, 2009
For years ahead, fuel for the precious metals bull market will continue to come from private investment demand which promises to rise sharply. A new wave of inflation in the coming years is inevitable. Full Story
Last week we saw commodities sell down then put in solid bounce, which allowed us to generate new pivot lows for drawing support trend lines. This is the exact type of price action I have been waiting for. Full Story
When the books have been written on 2009, the prevailing story will undoubtedly be one of lost opportunity. Countless numbers of investors caught up in the tangled web of pessimistic headlines failed to pull the trigger on what is turning out to be one of the best market recovery years of our lifetime. Full Story
With the S&P up 46 per cent from its March low, a typical 50 per cent retracement is almost complete ready for the next plunge lower in this bear market. Unless you are a born-again-bull or have shut yourself in a cupboard for the past two years I do not understand how anybody can see a further upside in markets at this point, the risk is all to the downside. Full Story
Assuming Americans still have the capacity for outrage, they should soon be rioting in the streets following last week’s reports that nine big banks paid out $33 billion in bonuses in 2008. The Wall Street Journal put this travesty in perspective, noting that the bonuses were a third larger than California’s budget deficit. Full Story
By: Bob Chapman, The International Forecaster - 2 August, 2009
On Wednesday the Treasury’s five-year auction yield was 2.69% with 21.15% allotted at the high and bid to cover was 1.92 to 1. The average of the past ten auctions has been 2.20%. Indirect, central bank participation was 35.7% versus an average of 36.8%. Overall that was weak demand. Do not forget the Treasury has to raise $2 trillion by 9/30/09. Full Story
Usually, when Ben Bernanke is interviewed, he has the demeanor of a college professor in the presence of freshman students. Of course, as a full professor, he did not have to teach freshmen. That is for untenured assistant professors to do. Stammering and stuttering are therefore a real departure for him. There is a reason for this. Full Story
One of the most watched indicators just flashed the “sell” signal… What are you going to do? Pull out of the market and hope you aren’t stuck on the sidelines watching everyone else get rich? Stay “long and strong” and hope the market rally continues? Full Story
By: Richard Daughty, The Mogambo Guru - 2 August, 2009
I gotta admit that I am very jealous of Ambrose Evans-Pritchard, who is the international business editor of The Daily Telegraph, and who is famous and smart and probably makes a lot of money that he spends having fun with his many friends, while I am “none of the above” and pretty bitter about it, too. Full Story
The past week didn’t see much movement in the end as indices were mostly flat. What was interesting to me was the big fall in markets world wide in the middle of the week while the US market hardly moved. It had the familiar odour of intervention as the market was obviously propped up in the middle of this earnings season. Full Story
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