The topic of financial derivatives is a huge can of worms. The subject has arisen in the financial press much more in the last few years since the global financial crisis turned critical and became a clear case of grand struggle to prevent a veritable collapse. In a loose sense, the derivatives are the scotch tape, bailing wire, band-aids, and chewing gum holding the system together, the glue and adhesive, with rose colored glasses used with a large amount of deception. Another analogy preferred for usage by the Jackass is the floating fabricated foundation laden with vaporous illicit toxic fabric, the phony platform on which insolvent structures lie. Full Story
By: Steve St. Angelo, SRSrocco Report - 25 July, 2014
It looks like at least one country is still taking advantage of the extremely low paper price of silver. From information just released, India continues to import a near record amount of silver in 2014. Even though silver imports slumped in June compared to last year, demand is still extremely strong. Full Story
By: Adam Hamilton, Zeal Intelligence - 25 July, 2014
Gold’s strong season is just getting underway, with this metal’s summer-doldrums seasonal low in place. The past couple months’ stiff headwinds are starting to shift to fierce tailwinds, thanks to Asian demand ramping up heading into autumn. Gold’s pronounced seasonality is very important for all investors and speculators to understand, as today’s inflection point is a very bullish omen for this still-unloved asset. Full Story
No pain, no gain. That is one comment regarding this seemingly terminal bottoming process in the precious metals complex. Multiple times as soon as conditions have strengthened enough for us to anticipate a breakout, the miners have put in a bearish reversal. At the same time, the metals and especially Gold have failed to gain any real traction. Throughout the past year we’ve been looking for that final low in Gold but it has eluded us multiple times. The recent reversal in the gold and silver miners coupled with a continued technical downtrend in Gold suggests that more pain is coming before sustained gain. Full Story
The new book titled #GIRLBOSS by Sophia Amoruso—reformed petty thief and CEO of a $100 million online clothing store—is the latest “live and work as I do if you want to succeed” book from a string of brand-building female executives. Facebook COO Sheryl Sandberg has women “leaning in,” while Arianna Huffington’s sleep crusade marches on in her latest book, Thrive. Now, I should confess that I haven’t actually read any of these books; one of my colleagues gave me the recap. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 25 July, 2014
Although Fed Chairwoman Janet Yellen said nothing new in her carefully manicured semi-annual testimony to Congress last week, her performance there, taken within the context of a lengthy profile in the New Yorker (that came to press at around the same time), should confirm that she is very different from any of her predecessors in the job. Put simply, she is likely the most dovish and politically leftist Fed Chair in the Central Bank's history. Full Story
When The Bank Espirito Santo catches a cold, watch the world sneeze. If this evolving situation doesn't highlight the tight interconnectedness of the paper financial system, nothing else will. This a direct hit and a potential trigger that could set of a daisy chain of events, ultimately calling into question the only market left large enough to back (unofficially) fiat or debt based currencies. Full Story
Governments and central banks have made little or no progress in recovering from the Lehman crisis six years ago. The problem is not helped by dependence on statistics which are downright misleading. This is particularly true of real GDP, comprised of nominal GDP deflated by an estimate of price inflation. First, we must discuss the inflation adjustment. Full Story
How many reasons to own precious metals- and fear all else-what can I say? I guess we’ll see today, culminating in today’s topic du jour – the increased confidence in our long-standing prediction that not only has global gold and silver mining peaked, but will likely not rebound material even after the Cartel’s inevitable demise. Full Story
Established in 2009, the GoldSeek Mint in Houston, Texas privately mints pure gold & silver investment-grade bullion products. Since its launch, GoldSeek Mint has struck over $10M in bullion-grade products. In Q4-2013, GoldSeekMint.com launched allowing direct access to freshly minted gold-silver bullion products. All gold-silver offered for sale is direct from inventory and shipped quickly & securely within the USA. Full Story
This infographic, the finale of our five part 2014 Gold Series, covers gold trends that investors should be watching through the rest of the year and beyond. With input from some of the most important names in gold such as Brent Cook, Doug Casey, Frank Holmes, Bob Moriarty, and James Fraser, we aim to cover the broadest and most important signals for investors to watch. Those include Chinese wealth, Indian demographics, money printing, debt, and a lack of significant gold discoveries. Full Story
Ding, Ding, Ding! The bell tolls, not for the 1%, but for the remaining 99% in Europe, the UK, Japan, and the US. What Danger Zone? The powers-that-be must find a way to keep the masses under control, raise taxes, enrich themselves and monetize the debt. The result will be currency devaluations, blood, inflation, distractions (such as downed airliners and new wars), banker bonuses, continued payoffs to politicians, and so much more. Full Story
This week’s TedBits is as important a commentary as any I have ever written in my 10+ years writing Austrian analysis of the unfolding world macroeconomics and geopolitical situation. It covers the origins, causes and destinations we are headed for, the participants, historical context and the future based upon past episodes: Past, present and future so to speak. I hope you enjoy it. Best wishes Ty. Full Story
Once upon a time, there were safe havens in this world, places where investors could hide when the going got rough. If you believe this fairy tale world will persist, pinch yourself. In our assessment, not only are there no safe havens left, but instability may be the new normal. Is your portfolio ready? Full Story
There is much confusion over what the legal tender law does. I have read articles, written by people who are otherwise knowledgeable about economics, claiming that legal tender forces merchants to accept dollars under threat of imprisonment. Recently, I wrote a short article for Forbes clarifying how legal tender law works in the US. Full Story
It's hard to see the present until it's in the past. What does this mean for gold? Money managers Doug Loud and Jeff Mosseri of Greystone Asset Management say that a bull market may have already begun. All the signs are there: rising political tension, a shortage of new supply and a cull of the weakest stocks. In this interview with The Gold Report, Loud and Mosseri tell us why gold, silver and copper should have a bright future. Full Story
We see markets “priced for perfection”…vulnerable to a correction…from a geopolitical shock or from a growing perception that the Fed will raise interest rates more and faster than people think. We think it’s time for investors to get defensive…we see signs that the smart money is already taking money off the table. Full Story
When I was 20 years old, I sat through my first day of a business law course at Northwestern University. The professor began by writing two words on the blackboard (in the prehistoric days of blackboards and chalk): Caveat emptor. He raised his voice and said, “Let the buyer beware!” I’m here to echo his warning, but this time it’s about annuities. Full Story
I wanted to address tapering, an end to monetary stimulus, and what it means for gold. In 2013 the price of Gold suffered its worst year since 1981. The general consensus on why gold crashed was because of the Fed’s forward guidance stating the US economy is on the verge of recovery, with government data supporting an economic recovery, which will ultimately lead to the end of monetary stimulus, followed by interest rate normalization. Full Story
It was only a few months ago that the Euro Index invalidated a breakout above the very long-term resistance line, and at that time it was likely that the next big move would be to the downside. However, as long as the rising support line remained unbroken, there was still a significant possibility that the currency would move higher. This month and – in particular – this week this changed. We saw a key breakdown. Of course, as it is always the case with long-term charts, we would like to see a confirmation in the form of at least a weekly close below the broken line, but it’s already likely that we will see it. Full Story
One of our longtime members, who, because of the firm he works for (as a senior officer), has to remain anonymous, checked in to make an observation about the large trader positioning and we thought it worthy of sharing with the entire readership. Full Story
By: Steve St. Angelo, SRSrocco Report - 22 July, 2014
With the results for 2013 finally in, the top gold miners average yield fell to the lowest level ever. This is a surprising development considering that the average price of gold dropped to a low of $1,411 in 2013. Normally when the price of gold falls, gold miners switch to higher grades to remain profitable. Full Story
This eye-opening article explains how China is influencing gold demand and prices and what it means for Western investors. Readers will discover how much gold China is really buying and steps their taking to undermine the U.S. Dollar as the world reserve currency. It even includes a prediction for gold prices. It's a must-read for any precious metals investor. Full Story
One of the recurring headlines adding to the “wall of worry” is the battle between U.S. hedge funds and the Argentina government over payment of the country’s bond debt stemming from the country’s 1998-2002 economic crisis. Pundits worry that a default is imminent and that the country faces a bleak future if fails to pay hedge fund managers $1.3 billion by a court-mandated July 30 deadline. Full Story
A number of top bank economists have turned bullish on gold in the past few months. That’s helping to boost confidence amongst thousands of Western gold community investors. Scotiabank and HSBC have lead the way on that front, and now top metals strategist Mike Widmer at Merrill Lynch has thrown his weight behind the bulls as well. Full Story
By: Steve Saville, The Speculative Investor - 22 July, 2014
When the central bank pumps money into the economy and suppresses interest rates it creates incentives to speculate and invest in ways that would not otherwise be viable. At a superficial level the central bank's strategy will often seem valid, because the increased speculating and investing prompted by the monetary stimulus will temporarily boost economic activity and could lead to lower unemployment. Full Story
The last market breadth update was written in June, with a theme of main internal indicators pushing towards overbought levels. The report showed how NYSE High Low Ratio, Advance Decline Line and Percentage of Stocks Above 50 & 200 MAs were all signalling that the rally was overextended. Full Story
By: The Gold Report and Byron King - 21 July, 2014
Global unrest and inflation will play a role in improving fundamentals for gold and silver, Byron King, newsletter editor for Agora Financial, tells The Gold Report. But miners have to control costs and clean up their internal cash flow, too. Meanwhile, investors who have run up gains in traditional investments are looking for new asset classes. Full Story
Do you remember the indelible words ‘a fool and his money are lucky enough to get together in the first place’? Do you know where this famous quote comes from? The answer is the movie Wall Street – wisdom offered to Bud Fox by Gordon Gekko – an Oscar winning performance for Michael Douglas. And there could be no truer words for many in the stock market today, benefactors of the great reflation (monetization) quantitative easing (QE) has provided since the panic lows in 2009. Unfortunately however, most people have not benefited from this reflation. For the most part, it’s been a ‘rich man’s rally’. Full Story
Many commentators consider what the Fed has done to be akin to providing stimulus, morphine, juice to an ailing economy. We believe Fed’s actions would be more appropriately described as permitted cancerous beliefs to spread throughout the financial system, thereby killing Democratic Capitalism which is the basis of the capital markets. Full Story
In the in-depth article below, Patrick discusses the future of energy creation and storage. He also gives us a look at how our bodies consume energy and how next-generation battery technology could change our lives. Full Story
As we move into the second half of 2014, the Federal Reserve has continued to reduce its stimulus measures intended to boost the U.S. economy. Just last week we heard rumors from Fed officials that if the job market improves faster than expected, key interest rates may be increased sooner than expected. Full Story
I recall watching a documentary years ago about the tragedy of 911 in which a Wall Street banker was interviewed about what he was thinking when he heard that two planes had crashed into World Trade Centers 1 and 2, and without hesitation, he said something to the effect of, First, I thought gold was going to up in price, and second, I thought how can I make money from this? I am paraphrasing what he said because I can’t find that exact clip, but my paraphrasing contains the essence of his response. Full Story
In this Weekend Report I would like to take an in depth look at gold as there could be some important developments taking place that didn’t show up until this weeks volatile swings. Keep in mind a week ago this particular pattern didn’t exist as there was no evidence in place to even speculate on what what I’m seeing right now. As you know things can change very fast in the markets especially when the volatility increases as we seen this week. One always has to keep an open mind and look at what the markets are giving us to work with. Full Story
“We are pleased to announce the signing of the Treaty for the establishment of the BRICS Contingent Reserve Arrangement (CRA) with an initial size of US $100 billion. This arrangement will have a positive precautionary effect, help countries forestall short-term liquidity pressures, promote further BRICS cooperation, strengthen the global financial safety net and complement existing international arrangements.... The Agreement is a framework for the provision of liquidity through currency swaps in response to actual or potential short-term balance of payments pressures.” Full Story
Hedge funds reducing their holdings in precious metals last week will wish they had jumped in the opposite direction if preliminary GDP figures for the second half due on Friday show that the US economy continued to contract or slow down. Full Story
How do you see the economic endgame playing out for the U.S. and the world? That’s this week’s discussion topic, and although some in this forum will undoubtedly lean toward the Armageddon scenario, we should always leave room to imagine a far sunnier outcome, such as a Second Great Depression deeper than the Mindanao Trench. I want you to have fun with this one, so set your minds free before you put pen to paper. Full Story
The problem we have today in economics is that many people, and not a few economists, seem to regard economics as “pure science,” as described above by Gauri Shankar Shrestha. If you delve deep into measurement theory, you find that all too often the way in which you measure something determines the results obtained from your experimental model. How you measure the effectiveness of a drug can sometimes determine whether it gets approved – apart from whether it actually does any good. The FDA actually works rather hard at measurement theory. Full Story
The Commodity Futures Trading Commission (CFTC) released data for the disaggregated commitments of traders (DCOT) and Legacy “COT” reports for the week ending July 18, 2014. Our recap of the net positioning for large reporting futures traders is below, compared to the prior week’s data. Full Story
Macroprudential Policies of Financial Repression have been steadily accelerating since the implosion of the Dotcom Bubble. Many of the consequences of Monetary Malpractice which Gordon T Long and John Rubino outlined and cautioned about in 2012 are now evident on a daily basis which are chronicled in this 30 minute video. Full Story
There is no one singular event that will ultimately loosen the manipulative shackles that the elite’s central bankers have maintained on the PMs [Precious Metals], as evidence continues to mount that Western countries, and the US, especially, are going under economically and financially. All central banks are insolvent, kept afloat by lies. The accounting rules have been changed to allow banks to price their assets however the banks choose. Most, if not all central banks assets, [just about all banks, as well] are worthless, or near worthless. Full Story
Markets and stocks were very weak and choppy and didn’t give us any easy trades this past week. We’re in the summer doldrums right now and while it’s no fun, we are setting up a nice long base that should set us up for nice moves into the fall which is the strongest time of year. Gold showed how hard it is to trade. Full Story
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