By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 September, 2009
As an almost revered subject, the question of whether central banks across the world will be buyers or sellers of gold is one usually left until after the event. Central Banks themselves are usually very unhappy to talk about their gold policy. When they do it is a once-in-several-years-event. As a result we watch the behavior patterns of the last decade to see what lies ahead. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 25 September, 2009
Why should the desire for transparent, accountable government be equated with "rooting for the masses, and revolution, and all that nonsense"? More important, why such anger at people who ask questions of a democratic government, and such a defense of enormous power exercised so secretly? Why such an aggressive desire not to know what is going on? How does any of that qualify anyone to be a market analyst? Full Story
Alan Grayson made great strides today in getting the Federal Reserve to admit that there is a problem with the ownership of Fed gold and has gotten the General Council of the Federal Reserve, Scott G. Alvarez, to agree to a GAO audit..of sorts. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 25 September, 2009
As another G20 meeting rolls around, this time on home soil, the time comes once again for the economically curious but politically unconnected to wonder what is really happening behind closed doors. But while admiring the pageantry, chuckling at the awkward group photos, and parsing the joint communiqués like newly found Dead Sea scrolls, the overwhelming majority of observers will miss the meeting's dominant theme: hypocrisy. Full Story
If we’re right about where the price of gold is headed, the general public will someday clamor to buy all things gold. While gold stocks will be where the real leverage is, the rush will start with gold itself. As a gold editor, I have a very natural question: is there enough to go around? Full Story
By: Daniel Aaronson and Lee Markowitz - 25 September, 2009
During a market corner, a buyer accumulates an asset with the intention of driving the price higher without any regard for its true value. Additionally, the buyer amasses such a large holding that market prices cannot remain elevated without continuous buying. Full Story
A few months ago I interviewed Erika Nolan, executive director of the Sovereign Society, a consultancy that specializes in asset protection, for a magazine article on offshore investing. Among other things, she said this: Full Story
By: David Coffin and Eric Coffin - 25 September, 2009
Until the middle of this decade Yen-carry trade was all the rage. Traders borrowed money at ultra low rates in Tokyo and then moved it into higher yielding assets. The difference between the low cost of Yen and higher yields elsewhere, the “positive carry”, was pocketed. Hedge funds ran this trade, using huge leverage levels. This trade was blamed by some for the run up in base metal prices during this period, on the assumption that hedgers were loading up on metal with this leveraged capital. Full Story
As global stock markets navigate through the eye of the ongoing financial hurricane, it becomes increasingly important for investors still impacted by these markets to be able to gauge when the storm’s fury will reassert itself and plan accordingly. By all measures, there are a healthy number of individual investors still in the stock markets in one way or another who are hoping to recover everything lost in 2008. Full Story
This week the Barons are gathering in Pittsburgh with the King, and they are restless. The world is out of joint but it appears that scarcely anyone has a clue as to what to do, to put it right again. There is only one way back to an orderly world, a world in which Trade Deficits are actually settled, and settlement requires payment in gold. Full Story
Until demonstrated otherwise, a continuation of the recent rally is nonetheless a ‘Bear Market Rally’. Such Bear Market Rallies are treacherous and often rapidly reverse themselves, turning gains into losses. Thus, it is especially important to monitor the Interventionals, as well as the Fundamentals and Technicals, very closely. Full Story
SEEMS WE'RE NOT the only ones trying to figure out this week where the last decade's record consumer borrowing went. "Where did all the debt go?" asked Bank of England economist Spencer Dale in a speech this Thursday in Exeter. Sadly for US and British households, however, let alone savers and investors, he had fewer answers than even we do here at BullionVault. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 25 September, 2009
Although copper is not the largest base-metal market (aluminum is way bigger), nor the most valuable of the primary base metals (nickel is worth several times more per pound), it is still arguably the most important base metal. As the base metal of choice for investors and speculators, copper’s price offers great insights into how traders view the global economic outlook. Full Story
The general public, who never understood the global financial crisis in the first place, have been hoodwinked into thinking it’s over. It’s not. None of the underlying structural abnormalities, distortions and excesses within the global financial system have been addressed and rectified, because to do so in a meaningful way would involve allowing a constructive depression to purge the system of dross and parasitic elements (like much of government itself) in what would amount to a teardown and rebuild. Full Story
While the hour-long presentation is of course only a snapshot, or a look at the critical pieces of puzzle, I emphasize the importance of the gold market, and view the housing crisis as merely a symptom of the causes - excess FED inflation and artificially low interest rates that were held too low for too long. The irony is not lost that currently the FED interest rates is roughly 0.15%, far lower than previously. In the interests of time and for simplicity, I omitted the Treasury market almost entirely - just a brief mention in the slide on the national debt. The Treasury market is definitely also quite critical. Full Story
In the movie "V for Vendetta " , the super human hero, 'V', promises something special on the 5th of November : "Remember, remember the 5th of November, the gun powder treason and plot. I know of no reason why the gun powder treason should ever be forgot." In the climactic end of the movie -- citizens, common men and women take part in a bloodless coup, the symbolic toppling of an evil government via the destruction of the symbols of their power. Full Story
Just look at this hoard of Anglo Saxon gold found in Staffordshire in England last week, weighing more than five kilograms along with 2.5 kilograms of silver. It is one of the greatest archeological finds of recent times, and was discovered in a field with a metal detector. Full Story
By: The Energy Report and Alex Burgansky - 25 September, 2009
Renaissance Capital oil and gas analyst Alex Burgansky, who ranks at the top of the list of sector analysts in Russia, shares his insights on the industry and its issues in this exclusive Energy Report interview. Russia's 2009 oil production is up a bit, but issues remain. Full Story
Rothschild Cabal agent Timothy Geithner, at the US Treasury, released data this week on the Foreign Holders of US Treasuries for the month of July 2009. As always, whenever Geithner says something, one must be very cautious about believing him. He and his Cabal controlled office are not known for truth. In any case, he did put forth his monthly report on US Treasuries and who owns them. Full Story
By: Rick Ackerman, Rick's Picks - 25 September, 2009
It’s a crazy world that views dollars and Treasury paper, of all things, as a safe haven whenever the financial news turns unsettling. Yesterday’s upsetting story had sales of existing homes falling by 2.7% last month, darkening the mirage of recovery in the housing sector. Full Story
By: Bill Bonner, The Daily Reckoning - 24 September, 2009
The inflation/deflation debate is hot… It crackles and pops like a pine fire. But it gives off little helpful light. Abe Lincoln may have read by the light of an open fire. But when tried it, we singed our eyebrows. It made us suspicious of Old Abe; maybe he wasn’t quite as truthful as he pretended to be. Later, we realized he was a mountebank. But that’s another story… Full Story
The US Dollar is seeing short covering. The rate of its break slowed yesterday. In fact prices reversed after Wednesday’s FOMC Annoucement. However, other than some normal short covering, not much looks overly long term bullish on this chart. A rally up to the 18-Day Moving Average of Closes might develop, but it would take more than that to turn this chart bullish. Full Story
Today is the 140 Year Anniversary of the original Black Friday on September 24th, 1869. Since then the word ‘Black’ has been used to describe any day that the stock market, currencies or financial markets have crashed. There have been many, many such crashes but the one that birthed the term happened on this day 140 years ago. Full Story
A powerful hidden engine existed for close to 20 years called the Yen Carry Trade. The engine produced tainted trillion$ for its priviliged participants, whose access to cheap money was assured and whose control of government policy was tight. The engine served two important purposes. It kept the Japanese Yen currency exchange rate low, sufficient for maintaining the export juggernaut that sent products around global supply routes with names like Toyota, Honda, Komatsu, Mitsubishi, Nikon, Toshiba, and Fuji for a string of years. It also supplied a torrent of funds to feed both the Japanese and Western (think US, UK, Europe) financial markets its most important channel in existence. Full Story
At present, there is a lot of confusion amongst the investment community and opinion is divided as to whether we will witness inflation or deflation. On one hand, the deflationists are claiming that given the extremely high debt levels in the West, further inflation is impossible. On the other side of the argument, many proponents of inflation are calling for Zimbabwe style hyper-inflation. Full Story
A chart is like a photograph. It locks in ‘the activity’ right up to the last moment. A chart is a reflection of the actions of multiple humans interacting in the marketplace. Since humans tend to act in ‘herd-like’ manner, reacting to the news they hear, read and see, a chart has a certain amount of predictive energy while it reflects the past. Full Story
Today we had a reversal day for the broad market, us dollar, precious metals and oil. The market is over extended. We have seen the market rally 20% since the July low. Full Story
As the U.S. strategic petroleum reserve (SPR) approaches capacity (721.5 million barrels filled out of a total possible 727 million, and will be filled by January 2010), the federal government will fade out of the oil-buying business. Some bearish traders believe that this factor can weigh in on prices, since most petroleum stocks in the United States are government-held rather than private. Bullish traders have also used the filling of the Chinese SPR as a reason that oil should go much higher... Full Story
By: Rick Ackerman, Rick's Picks - 24 September, 2009
With a glower of contempt toward the bankers, gold remains easily aloft above $1000, developing thrust for the next big move. We wrote here a while back that blast-off from $1000 would follow the realization that G-20 can do nothing to restore stability to the world’s tottering financial system. Now, the question is whether anything at all will be “realized” in the wake of the Pittsburgh meeting. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 23 September, 2009
The Federal Reserve System has disclosed to GATA that it has gold swap arrangements with foreign banks that it does not want the public to know about. Full Story
By: Bill Bonner, The Daily Reckoning - 23 September, 2009
The trouble with being a contrarian is that you can never be quite contrarian enough. We began having doubts about the ‘feds inflate…gold soars’ hypothesis last year. It was too easy…too obvious. And if it were that easy to inflate a nation’s currency, how come the Japanese couldn’t get the hang of it in the ’90s? Full Story
Fixing the worst slump since the Thirties thus comes down, or so everyone assumes, to either reversing a course that never took place...and forcing a reduction in consumption that enables households to reduce debt...or reviving a fresh (meaning first) surge in consumer spending with sub-zero interest rates and tax-funded cash incentives. The likely outcome, we guess here at BullionVault, is both or neither. Full Story
By: Bob Chapman, The International Forecaster - 23 September, 2009
As pick and pay and prime loans crash into foreclosure and their high to high medium priced homes descend in value, how can Wall Street and Washington celebrate a slight increase in low-priced housing? As you can see, from figures appearing later in the issue, whatever stability there might be is being supplied by the Federal Reserve. It is a make believe market with 85% of mortgages being funded by government agencies at taxpayer expense. There is no cause for celebration as government and the privately owned Fed shove systemic problems somewhere off into the future. Full Story
By: Peter Schiff and Gregg Greenberg - 23 September, 2009
Peter Schiff, founder of Euro Pacific Capital, speaks with TheStreet.com's Gregg Greenberg about the dollar, gold prices, manufacturing in America and a whole host of wide-ranging topics. Full Story
By: John Browne, Senior Market Strategist, Euro Pacific Capital - 23 September, 2009
It is quite possible the Obama Administration is overtly unveiling a new policy of increased trade protection while covertly pursuing a policy of gradual dollar debasement. In so doing, it hopes to both reduce the burden of America's outstanding foreign debts and protect American manufacturing. Full Story
Gold, silver and gold shares are jumping up. Gold hit a record high this month and all three are in ‘break out’ mode. The time of truth is at hand and it won’t take much more strength to confirm that a stronger phase of the eight year old bull market has begun. Full Story
Apologies to my old friend and colleague Dr. Marc Faber but not all his calls are right. Last autumn he recommended buying US stocks just as they started a plunge that ended with the S&P at 666, the devil’s bottom in March. Full Story
By: The Gold Report and Greg McCoach - 23 September, 2009
Post summer doldrums, we're now beginning to see a nice fall run up in the price of gold—one that marks the beginning of a parabolic move, according to Greg McCoach. The seasoned bullion dealer, investor and newsletter writer sees a number of factors culminating in ever-increasing prices going forward. Full Story
By: Richard Daughty, The Mogambo Guru - 23 September, 2009
In case you were wondering, there is no way to stop spending a debt-based currency once you start, which handily explains why Doug Noland, in his Credit Bubble Bulletin, asks “what about an exit strategy? Well, I see a ‘No Exit’ sign. These distortions have been going on for too many years and become too systemic. Indeed, government interventions are at the core of systemic fragilities that ensure Washington will continue to meddle.” Full Story
By: Rick Ackerman, Rick's Picks - 23 September, 2009
Our memory stumbles whenever we try to recall any recent sightings of “green shoots” that would support the officially promoted illusion of a U.S. economy in recovery. Actually, this vision is more of a hallucination than an illusion, since one’s mind needs to venture beyond the pale of rationality, light years beyond the fringe of statistical evidence, to conjure up supposed signs of sustainable growth. Full Story
By: Bill Bonner, The Daily Reckoning - 22 September, 2009
In the relatively short term we still face the shock of another leg down of the credit contraction crisis. Risk is likely to make a comeback. When that happens – and it could happen in a ‘Red October’ – the dollar will seem like a relatively solid refuge. This is what happened last year. We wouldn’t be surprised by a replay of that ‘flight to safety’ we saw at the end of last year. Full Story
By: Roland Watson, The Silver Analyst - 22 September, 2009
The critical juncture we suggested for silver last week has not changed. All the factors we have looked at point to silver dropping in the medium term though the shorter term (days to weeks) has scope for volatility. The RMA parameter mentioned before has sounded an alarm but for now a low decibel one. Other factors though are more shrill (refer to my blog for more details). Full Story
Yesterday, I received a number of emails from readers who had been communicating with Commissioner Bart Chilton of the Commodity Futures Trading Commission. Obviously, Commissioner Chilton intended this to be made public and I do so here. My comments will follow. Full Story
By: Marc Faber With Yahoo! Finance - 22 September, 2009
"The future will be a total disaster, with a collapse of our capitalistic system as we know it today, wars, massive government debt defaults and the impoverishment of large segments of Western society," Marc Faber writes in the September issue of The Gloom, Boom & Doom Report. Full Story
It's amazing but true. Even after all we've been through and all we have supposedly learned about the danger of being over leveraged and borrowing more than you can pay back, we are still piling on debt. Full Story
To summarize, there is a case to be made that assets (except for the US dollar) can propel higher short term. There is also a case to be made that the party will end shortly. Regardless, the risk vs. reward is not good even as prices continue to rise, and we must deal with that. Full Story
By: Steven Saville, Speculative Investor - 22 September, 2009
Coming into September the markets had the potential to experience either a deflation scare or a mini blow-off in inflation-related plays. Within the first few trading days of September it became apparent that it was more likely going to be the latter. Full Story
By: Richard Daughty, The Mogambo Guru - 22 September, 2009
Everybody knows that I can always be counted on to go ballistic about silver being such a Screaming Freaking Bargain (SFB) because of (according to the most recent Official Mogambo Count (OMC)) more than a dozen very good reasons, which is a lot of reasons, and that at $17-and-change per ounce, silver is loudly saying, “Buy me! Buy me!” although obviously not in the literal sense, nor (perhaps less obviously) in the “voices in my head” sense, which shows I am responding to therapy and why everybody is so pleased with me. Full Story
By: Rick Ackerman and Chuck Cohen - 22 September, 2009
[Rick has been under the weather with a possible case of food poisoning. Filling in for him today is Chuck Cohen, a financial consultant whose work will be familiar to many of you. The following appeared at LeMetropole.com over the weekend. Chuck thinks that as long as the news media continue to stumble around in the dark in their coverage of the gold world, we should remain confident about accumulating more bullion and precious metal shares for the long haul. RA] Full Story
By: Dr. Ron Paul, U.S. Congressman - 21 September, 2009
Two weeks ago, both the administration and the Fed announced with straight faces that the recession was over and the signs of economic recovery were clear. Then last week, the president made a stunning decision that signals the administration’s determination to repeat the mistakes of the Great Depression. Full Story
We dumb field geologists, and I proudly count myself in that category, are a rather odd lot. We’re not your regular eight to five white collar guys and are way too educated to be real blue collar guys. Notice I say “guys” because we outnumber the fair sex in our business by about 9:1. Full Story
I know the shorts are corrupt and powerful. I know the technical fund longs have been easy to deceive. I know the COT structure is negative. I know what usually happens in previous set ups. And I know that it may happen again. But I also know that if a physical silver shortage is at hand, the shorts don’t have a prayer. Full Story
It appears our self-serving bureaucracy thinks they can keep fooling the markets indefinitely, where now they have resorted to attempting to ratchet stocks higher against precious metals. Of course the funny part of it all is as you know from our last meeting precious metals charts are telling us it will take hyperinflation to keep equities moving higher however, as the dollar ($) decline is getting stretched to say the least. Full Story
While all the hubbub here in the US has centered around abominations such as cash 4 clunkers, tax credits for buying homes, and the other machinations directed at returning the US to the blissful year of 2005, other portions of the world have taken notice and have been conducting some activities of their own. They have been locking down ever-growing stockpiles of critical basic materials needed to run their economies. Full Story
Well, here we are with the price of gold above $1,000. Since this is the day so many thought would never come, it is time for reflection. I have lived my life in a society in which most of the “experts” have been wrong over and over. Full Story
It has been a very exciting few weeks in the Australian Gold Sector since we announced a fresh break out. Before I go on I feel it is necessary to put this in context so I am providing a clear educational account of this event with perspective. Within the big picture this recent gold share price rise is only a small part of a follow through rally which commenced in the October to November lows of 2008. That period was in essence a “bear trap”. Full Story
For reasons that have mainly to do with politics and the media's thirst for sensationalism, nuclear energy has been a subject of much disinformation and alarmism for several decades. In fact, nuclear is safer, cleaner, and potentially cheaper and more abundant than any other proven source of energy that the human race has come up with. But beyond this, its real significance is that it represents the next natural step in the evolutionary progression that has marked the history of energy development. Full Story
By: Bob Chapman, The International Forecaster - 21 September, 2009
To borrow from an old joke about politicians, we ask our subscribers if they know how to tell when Helicopter Ben Bernanke, the current Fed Head, is lying. Answer: Whenever his lips are moving. Now we hear from the Dollar-Destroyer that our recession has technically ended (heaven forbid that we should call our current Fed-caused calamity a depression, which is what it has been since Obama took office). So we guess that we should take his word for it, seeing that every call he has made during his short tenure as Chairman of the Federal Reserve Board has been 100% wrong. Full Story
In this article we are going to review in a dispassionate manner what gold has and hasn’t achieved in recent weeks and make deductions about the outlook. September is by far the strongest month for gold on a seasonal basis and this year has been no exception. Full Story
By: John Mauldin, Millennium Wave Advisors - 21 September, 2009
This week we continue to look at what powers the forces of deflation. As I continue to stress, getting the fundamental question answered correctly is the most important issue we face going forward. And the problem is that we cannot use the usual historical comparisons. This week we look at one more factor: bank lending. Full Story
The short and intermediate-term future for Gold and any investment for that matter are tricky to navigate. I have guessed right and wrong many times on shorter-term moves. It seems that the best most investors can hope to do is identify the long-term secular bull market (i.e. the major bull market of the current 10-20 year period) that is in progress, buy into it, and hold on. Full Story
New research by Morgan Stanley Europe and Merrill Lynch Asia confirms old moving average based research by Stan Weinstein that the on-going upswing in the S&P 500 and other market indices around the world quite possibly has much further to go in this current bull run albeit with some volatility along the way. Full Story
GLD traders should be ready to take profits if we see a continued move lower below our blue trend channel. I am always sure I do not take a loss on a trade once it becomes profitable by 2% or more and this is the key to consistent gains. Full Story
With gold's entry into triple digits for a second week, investors are asking themselves, is this it? Is this the big one? What price will confirm we're going much higher? Will there be a pullback? For those who are not chart readers, consider this. A doctor does not diagnose you by looking at you. He tests and looks at his charts for results. Based on those charts he determines how well you are. Full Story
Many speculators are getting all excited. Gold, above $1000, gee – that must mean the sky is now the limit. If only it was that easy. Above $1000, we’ve been there before. We’re there again. Who knows, maybe THIS TIME things will be different. Full Story
This week the price of gold hovered above the $1000 level and managed to close above this important level, a very significant and optimistic development for anyone interested in the precious metals sector. But before we launch into euphoria and speed away, now might be a good time to look back into our rearview mirror. Full Story
The battle for the heavyweight championship is raging into the later rounds. Gold is winning the fight to date, and scored a convincing win last week staying above the mythical $1,000 level as quadruple witching came and went with a flurry that missed it’s mark. Full Story
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