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Weekly Archive
By: Bill Bonner & The Daily Reckoning Crew - 7 September, 2007
-News from the financial pyramid…one investment decision every ten years…
-Ups and downs in the 'Trade of the Decade'…a list of reasons for liquidation…a drink with Harry Potter…
-Breaking news for Mr. Barry…not-so-stunning "stunner"…Greenspan comes clean - a year and a half too late…and more! Full Story |
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 September, 2007
Gold and silver are reflecting the decay of the $, its global value, dropping confidence in the monetary system, but at a gear-shift change of pace going forward. Those fortunate enough to have gold or silver will have an element of security that will take them through the dramas ahead. The need to fully understand this subject is now imperative. Make sure you do! Full Story |
By: Adam Hamilton, Zeal Intelligence LLC - 7 September, 2007
Back in the young days of this gold bull, early 2001, gold languished in the $260s following a multi-decade bear. With little encouraging price behavior at that time, early contrarians focused on supply-and-demand fundamentals to undergird their highly controversial bullish views on gold. One key bullish thesis from those dark early days regarded gold’s behavior relative to real interest rates. Full Story |
By: Peter Schiff, Euro Pacific Capital, Inc. - 7 September, 2007
Now that home mortgage defaults are spreading like wildfire from coast to coast, there is a growing sense of certainty that the government will attempt to bail out homeowners and lenders. The ideas put forward last week by President Bush may be the camel’s nose pushing under the bottom of the tent. However, just as some things are too big to fail, this problem is far too big to fix. Full Story |
By: Paul Tustain - 7 September, 2007
The problem with plums is that they rot, decreasing in value with age. This means you must sell them, not wait, if there is a glut. That is the new status of the US Dollar... Full Story |
By: David N. Vaughn, Gold Letter, Inc. - 7 September, 2007
Don’t you just feel real sorry for gold? Look at that poor chart below and weep. Actually weep for those idiots who cannot recognize a gold bull market when they see one. Hah! Gold will yet go where gold wants to go and perhaps where it has never been before – higher Margarita. Full Story |
By: Jordan Roy-Byrne - 7 September, 2007
On Thursday, December Gold leaped $14 to $704, while the continuous spot contract gained about 2% to 694. More impressive to me was how the mining stocks acted. Recently I had mentioned that I thought the gold stocks would begin to take their cue from gold rather than stock market, when gold exceeded $700. Today’s action certainly validated that. Full Story |
By: Gold Investments - 7 September, 2007
While there may be some profit taking it seems likely the psychological $700 mark will be passed in the near term prior to challenging the 27 year highs of $722 that was reached in May 2005. We continue to believe there is a good chance gold will challenge its record high price in 1980 of $850 before the end of 2007. Full Story |
By: Jim Willie CB - 7 September, 2007
A certain nerve has been struck a few times in recent reading on my part by the description of the USDollar as a subprime currency. How true!!! When a debtor has poor credit history, inadequate income, and shoddy assets, the borrower is deemed to be subprime, which means less than good, not up to snuff, of second rate standard. The entire world is growing in its disgust for having been defrauded. Full Story |
By: Ira Epstein - 7 September, 2007
By now you’re probably tiring as I am with all the rhetoric about a Fed Fund Rate Cut..or lack of one. This rhetoric is taking up financial headlines, with good reason. I believe that Gold and Silver should be directly impacted by the Fed decision on September 18th. Think of this event as a hurricane going for a direct mainland hit. The question is which grade of hurricane will hit. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 7 September, 2007
Analysis of the data from these Mogambo Research Associates (MRA) forays into the field has shown that test subjects readily and consistently reveal that they don't know anything about gold… Full Story |
By: Rick Ackerman, Rick's Picks - 7 September, 2007
Will the Fed vote to loosen when it next meets on September 18? It seems almost a foregone conclusion on days when the stock market is getting pummeled, often because of depressing statistics from the housing sector. But what about days like yesterday, when shares were getting short-squeezed higher, strong retail sales were being reported for August, and gold was thrusting above $700 for the first time in months? Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 6 September, 2007
-The sinking sound of optimistic voices…the reasons of our reckonings…still awaiting the pain of corrections…
-More fear - less greed…wanting a recession doesn't make us mean spirited…
-The Fed's 'Lilywhite Book'…home foreclosures break a new record…the newest Chinese faux pas…and more! Full Story |
By: Alf Field - 6 September, 2007
“Gear Today, Gone Tomorrow” is an old saying in the market place, referring to the propensity for over-leveraged entities to implode. The continuing crisis in the global banking and credit markets has caused the clock to tick past midnight. What was “Today” has become “Yesterday” and what was “Tomorrow” is now “Today”. Full Story |
By: Larry Edelson - 6 September, 2007
Ever since the devaluation of the dollar in 1933 — and the simultaneous upward revaluation of gold — central bankers and politicians around the world have come to the same conclusion as those authors I just quoted. Here it is, in my own words … In the absence of a gold standard, central bankers and politicians are free to confiscate your money through inflation, at will. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 6 September, 2007
No, the particular thing that set me off in a rage was that she said Barron's rose in price from $4 an issue to $5! A 25% jump! Overnight! Naturally I assumed that the stupid cashier deliberately overcharged me, the little vicious brat… Full Story |
By: Bob Chapman, The International Forecaster - 6 September, 2007
Government policy makers, the Fed and Wall Street economists and analysts, are not ignorant of the basic laws of economic - they are liars. That is what they get paid to do. A credit crunch means less future economic activity and a recession during an up and coming major election year. All that money and credit being thrown around is not going to solve the current disaster of monetary policy and it is as a result very good for gold and silver as inflation roars upward. Full Story |
By: Nadeem Walayat - 6 September, 2007
FTSE 100 rally from the recent lows appears to have ended and is signaling a third leg of the down trend that targets a new low for the year for the FTSE 100 Index. This is on the back of the continuing crash in the financial sector due to the ongoing Subprime sparked credit crunch. Full Story |
By: Rick Ackerman, Rick's Picks - 6 September, 2007
Frazzled bears got a chance to relax Wednesday on news that pending home sales had fallen far more steeply in July than anticipated. Unnamed “economists” reportedly were “expecting” a drop of about 2 percent, but the actual figure was more than six times that, at 12.2%. The Dow Industrials fell 200 points during the day as a result, and although the blue chip average recouped some of that on uncharacteristically mellow short covering, settlement was still an ugly 143 points below the previous day’s close. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 5 September, 2007
-Dr. Richebächer, R.I.P…shaped by chance and circumstance…a botanists view of humanity…
-Debt-laden homeowners seek a presidential pardon…will 'easy money' destroy Venezuela - or will Chavez do it for them?…
-Will you choose to be a contrarian - or a victim?…to cut or not to cut - the country continues to speculate on the Fed's decision…and more! Full Story |
By: Justice Litle - 5 September, 2007
A combination of stimulative monetary policy and accommodative (read: not horrible) corporate profits is a recipe for ongoing inflation creep and a continued trend of paper asset inflation. Except now, with a good bit of hot air sucked out of the financials, there is more room for safe haven niches and inflationary plays, as efforts to bail out Joe Homeowner wind up helping Joe Goldowner by accident. Full Story |
By: Gary Dorsch, Editor, Global Money Trends - 5 September, 2007
“I only know of two men who really understand the true value of gold, an obscure clerk in the basement vault of the Banque de Paris and one of the directors of the Bank of England. Unfortunately, they disagree,” remarked Nathan Mayer Rothschild, the former owner and operator of England’s Royal Mint Refinery, and the primary gold agent to the Bank of England in the early 1800’s. Full Story |
By: Axel Merk - 5 September, 2007
The administration’s plan to bail out homeowners with adjustable rate mortgages (ARMs) may make them slaves of their homes. We propose an alternative that we believe better serves both homeowners and the marketplace. Full Story |
By: Donald W. Dony, FCSI, MFTA - 5 September, 2007
After a long and dull summer, gold is about to enter its normal seasonal strong period. Much of the increase comes from the increased demand of the Indian wedding jewelery industry in the 4th quarter. But extra momentum is also normally delivered from the declining U.S. dollar. However, as the currency is now resting on solid support at $0.80, is the near-term outlook for gold that bright? Full Story |
By: Richard Daughty, The MOGAMBO GURU - 5 September, 2007
A single insight! One! One thing to learn! 'This insight,' adds Mr. Wiggin tantalizingly, 'is what you will find described in this remarkable new book.' One thing to learn! I love this book already! Full Story |
By: Adrian Ash - 4 September, 2007
BUSY DOING NOTHING about asset-price bubbles until after they burst, the Federal Reserve has still been chiding no end of miscreant banks, foreign firms, lenders and brokerages about fraud and money-laundering since the Dot Com Bubble burst. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 4 September, 2007
-Stuck in the tightness of the credit channel…the prudence of the original carry trade…
-Rocket-like wheat still can't beat French meat…an eccentric Englishman and his license plate theory…
-Bush's bailout plan…is real estate still king in the Golden State?…hijacked on the Information Superhighway…and more! Full Story |
By: Theodore Butler - 4 September, 2007
In a surprisingly bullish development, the latest Commitment of Traders Report (COT) recorded a shocking further improvement in COMEX silver futures. For the week ending August 28, the dealers bought heavily again, as large speculators sold aggressively. There was some deterioration in gold, but we are still in COT territory highly suggestive of a significant potential advance. A number of other markets, including the Euro, are similarly aligned bullishly in COT terms. Full Story |
By: Michael B. Clark - 4 September, 2007
When having precious metals investments held by the selling dealer or another custody company, how can investors know their precious metals really exist and that they are, in fact, being securely stored for their benefit? Full Story |
By: Peter Zihlmann, Zihlmann Investment Management AG - 4 September, 2007
The two previous lengthy consolidation periods within this solid long-term up-trend shown in the chart above in red circles reveal in fact striking similarities. One similarity e.g. is the surge of the Index by more than 100% before the inevitable movement of consolidation began. Full Story |
By: Captain Hook - 4 September, 2007
Well, Bernanke was wrong, and those pointing out the credit crunch was contagious, including yours truly, were right. Of course it should have been no surprise hearing such an official forecast considering what’s at stake, that being the global economy. Oh – and that’s not all that’s at stake. The Fed’s future ability to affect the economy is also at stake, where many are watching to see how Bernanke stacks up in comparison to Greenspan under pressure, this being Bernanke’s first big test. Full Story |
By: David N. Vaughn, Gold Letter, Inc. - 4 September, 2007
Well, that poor bull seems to be tiring. Uh, oh! No! Wait! I believe there’s life in that ole’ gold bull yet. Anyway, there is life for those with enough sense to observe its strength and consistency. Full Story |
By: Brady Willett - 4 September, 2007
After signing the ‘American Dream Downpayment Act of 2003’ Bush added, “We want people to be fully aware of what it means to buy a home and what it takes”. The contradiction, if otherwise unclear, was that the President was signing a law that gave free money to those who could not afford to buy a home, and then he planned to educate them about the hard work, savings, and planning that is required to buy a home. Full Story |
By: Clive Maund - 4 September, 2007
GOLD UPSIDE BREAKOUT ALERT! Gold is now in position to break above last year’s highs and embark on a major uptrend. On the 2-year chart we can see how, just by virtue of tracking sideways in a narrow range in recent weeks, it is getting clear of the resistance in the vicinity of the Distribution Dome, which of course signals that the distribution phase in the dome pattern is over - those who wanted to sell have done so. Full Story |
By: Clive Maund - 4 September, 2007
At first glance the silver chart looks terrible, with last month’s dramatic breakdown below an important support level causing its moving averages to roll over and momentum to break to an 11-month low, and appears to confirm a Double Top with last year’s highs, with the price accelerating away to the downside. So the pullback of the past couple of weeks towards what is now resistance is understandably regarded by many disenchanted bulls as an opportunity to quit in disgust at a slightly better price. However, as we shall see, there is now strong evidence that the August plunge was a final capitulative flushout... Full Story |
By: Dr. Thomas Chaize - 4 September, 2007
If you read a little the economic press (one should not misuse the good things), you know that inflation does not exist any more since the year 1980, that retirements are guaranteed, that pollution is a weather problem, and that the oil peak of production is too remote to speak about it. Full Story |
By: Eric Hommelberg - 4 September, 2007
Believe it or not but gold and its shares could be poised for a powerful year end rally. Last week we notified our members that the gold-shares sell-off was way overdone which translated itself in a HUI reading as if gold were trading at $550! So yes, we argued that the time was right to start accumulating the gold shares as the saying goes “BUY Low, SELL High!” Full Story |
By: Steven Saville, Speculative Investor - 4 September, 2007
The stock market correction has been driven by problems in the financial sector, so a signal that the correction had ended would be strength in the Bank Index (BKX) in absolute terms and relative to the S&P500 Index (SPX). The sharp decline in both the BKX and the BKX/SPX ratio during the first three days of this week therefore indicates that the correction is not over. Full Story |
By: Merv Burak - 3 September, 2007
It’s been a quiet week in the precious metals. The action has been basically lateral with some upward bias. Friday was good but probably with little volume. So, this week I thought I’d go into something different and just take a quick review of the some markets around the globe. Full Story |
By: Douglas V. Gnazzo - 3 September, 2007
Gold closed down 3.60 to $673.90 for a loss of -0.53%. The weekly chart below shows gold well within its symmetrical triangular formation. The triangle keeps compressing and coiling the price tighter and tighter. It will pop hard, either way - up or down, and break out of the triangle. When the break is sustained in either direction, the intermediate term direction of the next move will be given. Full Story |
By: John Mauldin, Millenium Wave Advisors - 3 September, 2007
Past is Not Prologue, and Hope Is Not a Strategy
Eliminating Negative Alpha
Our Biggest Bet is Equities - Does Cap Weighting Weigh Us Down??
Practicing What We Preach
Update - Fundamental Index(tm) Today
New Orleans, London and South Africa Full Story |
By: Bob Chapman, The International Forecaster - 3 September, 2007
Turkey’s gold bullion imports will set a new record this year, as consumer spending is boosted by steadier world gold prices and positive sentiment. Gold bullion imports are up 42% to 150 tons in the first 7 months of the year. At this rate 275 tons could be achieved. Full Story |
By: Rick Ackerman, Rick's Picks - 3 September, 2007
While we congratulate the estimated 80,000 homeowners who might benefit from the mortgage bailout announced on Friday, we would surmise that many big lenders, including the banks of Europe and Asia, are feeling no sense of relief whatsoever. Full Story |
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