How expensive will Jingle Mail be? Well, rumblings out of the US Treasury suggest that taxpayer support for Fannie & Freddie may have to be raised from a potential $400 billion to $800 billion in losses. The extra $400 billion in estimated losses on government-sponsored prime mortgages is a combination of lingering unemployment and Jingle Mail! Full Story
Those who ignore the lessons of history are doomed to repeat it – except that now, with gold abandoned and each nation able to print currency ad lib, we are likely to wind up, not with a repeat of 1929, but with something far worse: the holocaust of runaway inflation that ravaged Germany in 1923 and many other countries during World War II. To avoid such a catastrophe we must have the resolve and the will to cease the inflationary expansion of credit, and to force the Federal Reserve System to stop purchasing assets, and thereby to stop its continued generation of chronic, accelerating inflation. Full Story
Gold is not necessary. I have no interest in [G]old. We will build a solid state, without an ounce of [G]old behind it. Anyone who sells above the set prices, let him be marched off to a concentration camp. That's the bastion of money. Full Story
With the current US deficit soaring above $12 trillion, the conditions are ripe for inflation. However, is hyperinflation just around the corner? Full Story
In the meantime however, unfortunately gold has just finished a profound five-wave sequence lower and definitely has more downside, suggestive the larger correction might not hold the round number at $1100, not that this will negate the count we are working with. This still requires one more thrust higher to finish off 1 of C, allowing for a bigger correction at that time. (i.e. the one that will take gold back down to test the breakout at $1,000 in $ terms, that being your last opportunity to buy on the cheap in the proximity of three-digit pricing again.) Full Story
The recent $125 correction in the gold price from $1,226 per ounce leaves some analysts thinking that the bull market is finished. But anybody with even a passing knowledge of investment analysis ought to recognize a buying opportunity rather than the end of an uptrend. Full Story
By: Andrew Mickey, Q1 Publishing - 22 December, 2009
So while the mainstream focuses on inflation, they’re missing the real catalyst for gold’s recent correction to be looked back upon as exactly that – a correction and a buying opportunity. Full Story
By: Rick Ackerman, Rick's Picks - 22 December, 2009
For all of its natural blessings, Greece is not producing sufficient wealth to repay its obligations. Foreign debt is estimated at € 200 billion. The sudden revelation that the real public deficit has reached 12% of GDP against the previous figure of 6% which was released just three months ago shocked the world markets. Repeated downgrades of its economy followed the news. Obviously, the economy is sick. Finding the correct therapy for a patient requires identifying the disease. Full Story
By: Llewellyn H. Rockwell, Jr. - 21 December, 2009
By way of review, the Fed has only one distinct power: the capacity to create money out of thin air. In the end, and despite all its other powers, this is the one that matters. So if you are interviewing the Fed governor, one would think that this would be the central question: what did you do with the money-creating power to bring about this situation? Full Story
By: Rick Ackerman, Rick's Picks - 21 December, 2009
Our skepticism is based on a more general concern as well — namely, the not unreasonable suspicion that huge new amounts of borrowing are unlikely to cure an economy already suffocating from debt. Full Story
Sometimes, you can overlook something that is right in front of you. That just happened with me. I’m talking about something I should have seen before now in silver and gold. Full Story
By: Andrew Mickey, Q1 Publishing - 21 December, 2009
On the unemployment front, “good” news is just around the corner too. The Census Bureau has to finish up its search for 1.4 million temporary workers in the next few months. Also unemployment benefits will start expiring soon for many folks. Which means people will leave the work force or take whatever jobs they can get, both of which reduce the official unemployment rate. (Side note: The impact of these two events should be noticeable shortly after Congress’s jobs program is enacted – pure “coincidence,” your editor is sure) Full Story
Gold continued to consolidate, but only fell 0.24% for the week. You’ve got to love the Chinese coming out on December 2 saying investors should be wary of a gold bubble forming. In hindsight it just so happens that was THE day gold topped out. Have no fear though, we are only halfway to the top of this current up-move. Gold’s just taking a rest for the holidays. If you’re worried, don’t be. Don’t bother to look at any charts or price quotes until the new year is officially rung in. You deserve the peace of mind! Full Story
Gold bugs have been sad for the past few weeks as gold has tumbled from above $1200/oz. Cheer up gold bugs. Happy days are coming. One of the great buying opportunities of all time is just around the corner, and our next task at the One-handed Economist is to identify this buying point as closely as possible. Full Story
By: John Rubino, Dollar Collapse - 21 December, 2009
The fact is, leverage is beneficial only if you’re absolutely, positively sure you’ll be able to make the payments. If you can’t then you have problems, regardless of how right you are about trends in the foreign exchange markets. So think through your obligations and cash flow. Full Story
Perhaps Indian astrologers specialize in emerging markets but there is also plenty of concern in global financial markets that, after the massive run up since the lows of March, investors will decide to cash out their profits. Full Story
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