For many years now gold and silver –by its pattern of following gold wherever it goes— have been treated by traders, investors and central banks as a ‘counter to the U.S. dollar’ and quite rightly so; this definition, however, applies primarily to the long-term value of the dollar and not simply to the daily gyrations of the dollar’s exchange rate. Full Story
The Commodity Futures Trading Commission (CFTC) has been negligent in failing to terminate the obvious manipulation ongoing in silver. Furthermore, the agency may be complicit in this manipulation. Worse, it has lied to the public and elected officials. This all goes back to the time when Bear Stearns was taken over by JPMorgan in March of 2008. Full Story
In less than a week's time, the Facebook IPO has gone from the most-hyped technology event since Google went public into "blame-storming" mode. Details concerning the stock's sudden drop, the market's inability to process orders, and the (mis)behavior of insiders are starting to emerge. And it doesn't look good. Full Story
As the Eurozone crisis rumbles on investors’ attention is split across a range of European issues; an apparently imminent ‘Grexit’ (possibly the ugliest wordmash we’ve ever heard), strains in the Italian bond market, Spanish property loans defaulting and busting the Spanish banking system, Portugal’s continued woes, France’s tired state driven economy and more. These are all issues that matter and are part of the macroeconomic picture. They are all here to stay, ‘givens’ if you like, or ‘known knowns’ to use Donald Rumsfeld’s contribution to the lexicon. Full Story
There is all the talk of Greece leaving the eurozone and we are already seeing a slow-motion runs on Greek banks. The Financial Times reports that €5 billion has left Greek banks in just the last two weeks and the more that Greek citizens feel it is possible that their country will leave the euro, the more incentive they have for pulling their money out and sending it abroad. Full Story
The fortunes of Europe’s beleaguered euro currency have been heavily influencing US markets. Both stocks and commodities have been battered down recently by overwhelming euro bearishness. This has proven seriously vexing for traders trying to focus on fundamentals. But the extreme euro pessimism worrying everyone is actually very bullish. This loathed, oversold currency is due to surge again. Full Story
We have seen the price for physical gold increase for eleven straight years. It was $273 at the beginning of 2000 and it is currently trading in the $1,600 range. This is almost a 500% increase since the start of this bull market in gold. However, during the same period the mining index has only increased about 214%. Full Story
Gold, if moved from a Tier 3 to Tier 1 asset would be competing as a safe haven investment against un-backed bonds yielding less than zero in inflation adjusted terms and issued by over indebted governments. Gold is set to become the new “good collateral.” Full Story
Now that Facebook has done a faceplant the blame game has begun. Those that partake in this pursuit, U.S. regulatory authorities included, are dwelling in the land of futility. The real story is that had Facebook soared instead of slumped the same sleazy practices undertaken by Wall Street would have gone uncriticized, and the mob of greater fools would have been erroneously geniusized. Suffice to say, stock price should not be the determining factor when it comes to panting reality in the financial markets…and yet it is. Full Story
Specifically the chart shows the assets of five of the USA’s largest banks vs. their respective derivative position. Derivatives dwarf the asset position of the banks. Wachovia and HSBC (USA) are not even amongst the top five derivative players in the US. The top five in order are JP Morgan Chase, Bank of America, Morgan Stanley, Citigroup and Goldman Sachs. There is a huge drop off in derivative positions after the top five players. Full Story
Let me start by saying I completely understand that there are valid reasons to buy gold for the long term as insurance and for savings. I also don't make trading decisions based on fundamental analysis. Futures trade in a two way auction. Price is determined only by whatever amount someone is willing to bid or offer at a given moment. This is the truth. If the fundamentals are bullish, and the auction is bullish, a good trader is only going to be on one side of the trade, the right side. But if the auction is bearish what good are fundamentals? Full Story
"Currencies are in effect the ocean" that all the fish, including the great white shark, fear, says investment manager and author of Currency Wars, James Rickards. Sometimes the ocean is calm, but in times like ours it becomes a much more hostile and dangerous environment. Find out how currencies interact globally and why governments manipulate them so much, in this video. Full Story
In this excerpt from a talk at the Casey Research Recovery Reality Check Summit, legendary resource speculator Rick Rule makes a strong case for careful, disciplined investing in the junior resource sector, despite the market turning truly ugly. Full Story
Indeed, the Central Banks are already implementing Debt-Eroding Inflations. E.g., Real Inflation in the U.S.A. is already at 9.9% (Shadowstats.com – See Note 2). But unimpeded Monetary Inflation inevitably leads to Debt Saturation, and leading Sovereign (and not just in the Eurozone) Nations are Hyper-Saturated with Debt already. Full Story
This is the REAL DEAL for Europe. Anyone who has some kind of counter-argument to these points either doesn’t understand the political environment we’ve entered (even Central Banks are fed up with bowing to political pressure from politicians) or is simply hoping that by ignoring these realities they (the realities) will go away. Full Story
It will likely go down in history as one of the biggest flops the stock market has ever seen – at least initially. The comedy of errors that have resulted in the loss of billions of dollars of market capitalization and shareholder value is noteworthy. The greed of many that led up to the flop really needs to be dissected though. The purpose of this article, however, is not merely to bash Facebook or anyone else, but rather to shine the light of day on what are generally accepted business practices. Full Story
WHAT'S UP with the gold price? Not a lot. Gold is down, in fact. So is everything else outside the US Dollar and "safe" sovereign debt. "I think what we can expect is a rate cut from the ECB [European Central Bank]," reckons Joachim Fels, chief economist at Morgan Stanley, speaking to Bloomberg on Wednesday. Full Story
In Capitalism, Socialism and Democracy, Joseph Schumpeter coined the term “Creative Destruction” to explain the capitalist process of innovation. Innovation is continually disrupting and transforming companies, industries and entire global economies built on the demands, risks and rewards of international free market capitalism. Innovation and creative destruction is an integral part of economic and financial market cycles, large and small, and therefore in the rise and fall of company fortunes and their shareholders. Full Story
By: The Gold Report and Micheal George - 24 May, 2012
Global gold production is at an all-time high, according to a new report from the U.S. Geological Survey. In this exclusive interview with The Gold Report, the Survey's Mineral Commodities Specialist Micheal George pinpoints where the gold is coming from and what trends can be expected in the coming years. Full Story
With the Dow down almost 200 points yesterday, we were kicking ourselves for having scratched a bearish “strangle” position in the QQQs the day before. We’d been long the June 65 calls and June 62 puts in a slightly bearish ratio, having paid a relatively whopping $444 for this high-leverage bet on volatility. Full Story
The Biblical story is told of a tower built ever higher in order to achieve contact with the heavens, lest they be scattered upon the earth. They were scattered when the tower fell. Fast forward to today, where the earth has a multitude of tribes, languages, and several major alphabets. When the Lehman Brothers failure occurred, and the Fannie Mae and AIG activities were to be concealed under court orders, the land turned barren, and a financial plague befell the Western nations led by the United States. They were after all, the keepers of the ark (printing press for USDollars). But a plague of debt locusts was cast upon the US nation, with annual $1.5 trillion deficits. Full Story
I first came to national attention back in 2008 and 2009 when the housing and credit markets imploded. I became known as the guy that other market "experts" laughed at when I warned of trouble brewing in the seemingly indestructible American economy. After the wheels ground to a halt in mid-2008, people noticed that my book Crash Proof, originally released in early 2007, read like a detailed preview of many of the events that eventually unfolded. Full Story
In this segment from one of his talks at the Casey Research Recovery Reality Check Summit, economics expert and author Harry Dent explains how shifting demographic trends lead to economic cycles and why the current US federal government is so afraid of deflation. Full Story
In an excerpt from his presentation at the Casey Research Recovery Reality Check Summit, legendary contrarian speculator Doug Casey remarks on the farcical aspects of international air travel. Full Story
The current financial crisis, may progress to a phase where people demand and hoard dollar bills but take electronic deposit credits only at a discount which increases until electronic deposit credits are repudiated entirely. The Federal Reserve would be powerless to solve the problem, because while they can create unlimited electronic deposit credits they can’t create unlimited paper dollar bills, “money you can fold” as Professor Antal Fekete calls it. There would be a glut of electronic deposits, but a shortage of dollar bills. Full Story
Gold, traditionally a safe-haven asset, has been moving in tandem with riskier assets such as equities, industrial metals and oil this year, as investors for some reason which is difficult to fathom, have turned to the supposed “safety” of the dollar. Full Story
Gold’s biggest problem since February has been one of relative weakness. This weakness in turn has kept the market-moving hedge fund players away from gold. But as we’ll see in the latest commentary, that may be about to change. In late February when the gold price rallied sharply to its highest level of the year at $1,793 it looked, on the surface, like gold was finally about to break out of its holding pattern since last September when the metal took a sharp dive. The February rally proved to be a “head fake” however. The yellow metal took another plunge within days of making its late February high at $1,793 and fell to a low of $1,538 on May 16. Full Story
The pessimism in the precious metals market just has to be at something of a high point. And yet there is an obvious point of release on the horizon. Greece runs out of cash in six weeks’ time and that will finally force the eurozone to do the necessary and print money again. Full Story
Sometimes I feel like Sherlock Holmes, and at other times like Chief Inspector Clouseau on his bad days. Today, it is the latter. My first instinct yesterday that the bizarre, singular weakness in silver was a signal by The Gold Cartel that gold would be under pressure in the very near future(Just what Andrew Maguire explained to the CFTC more than two years ago). But then, with the late action and strength in the shares, I went the other way … that the share strength was the real signal for the day and that The Gold Cartel changed their very short term game plan. Full Story
Observing Facebook’s price action on its IPO day earlier this week, one might have thought that fear, greed and stupidity had taken the day off. How could the over-hyped, socko-boffo stock of the year – of the decade – have failed to double within minutes of the opening bell? In fact, pumped to a $38 initial-offering price, FB shares achieved only a pathetic $45 on the opening bar before detumescing back to $38 by day’s end. Full Story
There was much more to Hilary Clinton’s China and India trip than meets the eye. It was an acid test of the power of the U.S. to press its political will upon the world. The issue at hand was the U.S. trying to halt sales of Iranian oil worldwide and to offer India the same amount of oil from other sources. Supplies from Saudi Arabia to replace Iranian oil were already in the market place. The halting of the Iranian oil from the market would have lost 3 million barrels a day, but it seems Saudi oil capacity has added that much. Full Story
Things may be looking up for gold bugs. The sellers are gone, and the bargain hunters have returned. Is this the reversal gold bugs have been waiting for? Or is it a short term bounce only to be followed by another leg down? Technical analysis says we may be seeing the beginning of another powerful upswing for the precious metals and gold and silver stocks. Full Story
Horizontal support & resistance (HSR) is a very powerful tool. Most technicians use it to try to figure out if a given price area is holding or falling. I use HSR lines to define zones where I want to accumulate great assets, because great assets are wealth itself. To view one of the world’s greatest assets, please click here now. Gold stocks explore for and produce the world’s greatest asset, gold bullion. The nature of what they do makes them a great asset to own. Full Story
I've read articles from more than one analyst claiming that gold stocks are down on low volume, implying there's a lack of interest in precious metals. While on the surface that seems like an obvious statement, their point is that most of the recent volume has been coming from sellers and thus exaggerating the recent decline. Full Story
"Has gold finally bottomed?" That is the big question we are going to attempt to answer in this update. Last week it bounced sharply after it arrived at the strong support at its September and December lows. This was a development that was easy to predict and it was predicted on the site hours before the bounce started. Full Story
Led by near suicidal sentiment among the gold 'community', the broad markets recently embarked on a southerly course as well, culminating with 'dumb money' sentiment at very bearish levels in technology, energy, financials, industrials and on out to commodities. Full Story
It's time to update our long-term weekly charts showing how the gold sector, as represented by the Barrons Gold Mining Index (BGMI), has performed in US$ terms, gold bullion terms and S&P500 (SPX) terms. The first of our long-term charts shows the BGMI since 1964 and includes a 200-week moving average (the red line). The peaks of the three major rallies that composed the 1960s-1970s bull market are labeled "1", "2" and "3". Full Story
We often write about the real price of gold (RPG) as it is a leading macro indicator and leading indicator for gold stock fundamentals. The RPG is simply a measurement of Gold in terms of various markets such as commodities, stocks or currencies. If the RPG is broadly outperforming then it could be signaling credit stress and even an economic contraction. If equities and commodities are outperforming Gold then it signals an improving economic environment and an improving credit environment. Full Story
I woke up alone in the Mogambo Bad Mood Bunker (MBMB), drenched in sweat, exhausted from tossing and turning all night, tormented by the same horrific nightmare. It's the age-old horror story where vast hordes of desperate, starving people cannot afford to buy food because prices are so high and rising so fast, all because their idiot central bankers are creating so much excess money that the economy gets twisted by odious mal-investments and ruinous inflation in prices into a cancerous economic grotesquerie... Full Story
By: The Gold Report and Leonard Melman - 22 May, 2012
The elections in Greece and France have shown that in democratic societies the people are the ultimate deciders of how well the best-laid economic plans will work out in the long run. In this exclusive interview with The Gold Report, Leonard Melman, veteran precious metals analyst and publisher of The Melman Report, talks about the implications of the recent European elections on the prospects for the gold and silver markets. He also discusses the huge rebound he anticipates for the metals markets later this year. Full Story
By: The Gold Report and Frank Barbera - 22 May, 2012
From gold and silver to energy and oil services, Frank Barbera, editor of The Gold Stock Technician Newsletter, sees a bright future for commodities and their equities. In this exclusive Gold Report interview, Barbera cites large blue-chip and midtier mining companies, especially those now paying dividends, as favorites and suggests that investors looking to protect retirement savings invest in bond funds outside the U.S. Full Story
Facebook’s highly anticipated initial public offering helped the company raise $16 billion, a record for tech IPOs. It’s refreshing to see investor excitement rally around the stock, as the U.S. needs innovative businesses to thrive and attract capital. However, as behavioral finance warns, be cautious of a herd mentality. Full Story
The reason for this rare, extra commentary over a weekend is to focus on a couple of points which really stand out in their particular significance and are worth pondering in terms of what is coming down the road for financial markets. The first is what we jumped all over on PLANET GATA from the get-go about the JP Morgan hedge trade flap gone wrong. It made NO sense from the very beginning to any of us that such a commotion was made over a $2 billion loss on a trade, for whatever reason, when they had just reported yearly gains of $18 billion. Full Story
This week our friend the British economist Alasdair Macleod presented what he modestly called two "lectures" about gold at the Hard Assets Investment Conference in New York. The "lectures" are actually the equivalents of state papers -- the latter one a masterful and detailed description of the mechanics of the gold price suppression scheme. Full Story
In the opening chapter of his book Essays on the Great Depression, Fed chairman Ben Bernanke tells readers, “I am a macroeconomist rather than a historian.” Though the book was published in 2000, his recent statements about the classical gold standard and the origins of the federal reserve suggest the vast revisionist literature pertaining to U.S. economic history is still largely unknown to him. Full Story
I’m in Gotham (photo below) for the annual spring dinner of the CMRE, the Committee for Monetary Research and Education. The members come mostly from the financial community, although they are hardly what one would call Wall Street types. More like libertarian firebrands, deeply committed to sound money, truth and accuracy in journalism, free enterprise and muscular capitalism. Full Story
Show Highlights: Headline news & the Market Weatherman Report. Spotlight Stock Picks. GUESTS: Arch Crawford Stockmarket Cycles Martin Shefsky - CEO / President, Northern Gold Mining Full Story
They discuss recent volatility and panic in the gold and silver markets. According to John Embry markets are now highly oversold. He mentions the “leap day slaughter” and the counterintuitive situation in which gold and silver prices went down on the backdrop of negative economic news and money printing. Natural selling followed forced selling. Full Story
The European Monetary Union was a triumph of hope over reason, pieced together from very dissimilar countries which, while sharing common borders, have very different cultures and economies. That it would eventually face an existential crisis was foretold by numerous critics at the time of its creation. The euro has never been a real currency. It was and still is an experiment, fashioned and shaped by a generation with noble ideas and vision, but tied together by an unworkable structure. Full Story
By: The Gold Report and John Williams - 20 May, 2012
John Williams, author of the ShadowStats.com newsletter, shines light on his interpretations of the GDP, CPI, unemployment and other government statistics in this exclusive Gold Report interview from the recent Recovery Reality Check conference. Highlights include what the money supply measures tell him and why QE3 will be a hard sell. Full Story
Despite ongoing pressure from the United States for China to join its sanctions against Iran due to concerns over the Islamic country’s nuclear program, an Iranian diplomat recently revealed that new energy trades between Iran and China will be settled in China’s official currency the yuan. Full Story
By: The Gold Report and Aaron Kennon - 20 May, 2012
Aaron Kennon, co-founder and CEO of Clear Harbor Asset Management, shares some of his company's trade secrets in this exclusive interview with The Gold Report. Educating yourself is critical before investing, and Kennon suggests questions to ask, what specialized knowledge your adviser should know and why small-cap and junior resource equities are offering surprisingly thrilling returns. Full Story
With a bank run in near full force in Greece and the country on the verge of exiting the Euro while still searching for a leader the world markets are reeling but gold and silver are finally catching a bid. Full Story
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