By: Marin Katusa, Casey Research - 26 October, 2012
Exxon Mobil is no longer the world's number-one oil producer. As of yesterday, that title belongs to Putin Oil Corp – oh, whoops. I mean the title belongs to Rosneft, Russia's state-controlled oil company. Full Story
By: Adam Hamilton, Zeal Intelligence - 26 October, 2012
After a long contentious slog, the hyper-critical 2012 elections are almost here. Americans will finally have the opportunity to choose our great nation’s future course. Will we collectively vote for free-market prosperity or big-government dependency? One thing is certain, the fortunes of the US stock markets will play a major role in this all-important decision. Few things influence our national sentiment more. Full Story
Longtime readers know that we are a fan of intermarket analysis. The movement of certain markets influences other markets so it is always wise to analyze a handful of markets rather than just a single market by itself. Several years ago we learned from others before us how intermarket analysis can help us get a handle on the margins of gold (and silver) miners. Full Story
Critical recent Developments reveal likely future ones important to Investors; that is, they shed a Light on the Future. The recently announced U.S. Attorneys civil suit against Countrywide/Bank of America alleging Fraud lends credibility to Ms. Fitts claims which were written before the suit was announced. And the Civil Suits against the Mega-Banks for rigging LIBOR lend credibility to her claims as well. Full Story
Summing up, the short-term outlook for the USD Index is for a rally but likely not a big one. The opposite outlook holds for the general stock market. Although the short-term trend is down, the medium-term support line is close, so significant declines are not likely, especially just before the elections. The decline in gold is likely not over but relatively close to being over. Full Story
The FOMC has crossed the Rubicon: our analysis suggests that the Federal Open Market Committee is deliberately ignoring data on both growth and inflation. At best, the FOMC’s intention might have been to not rock the markets two weeks before the election. At worst, the FOMC has given up on market transparency in an effort to actively manage the yield curve (short-term to long-term interest rates). Full Story
By: Richard (Rick) Mills, Ahead of the herd - 26 October, 2012
Today monetary reform advocates are revisiting the 1933 ‘Chicago Plan’ and the 1939 ‘A Program for Monetary Reform’. Perhaps it’s time some kind of monetary reform was on all our radar screens. Is it on yours? If not, maybe it should be. Full Story
By: Richard Daughty, The Mogambo Guru - 26 October, 2012
Junior Mogambo Ranger (JMR) Philip S. kindly forwarded an entertaining email to me, containing a lot of facts about, of all things, the year 1910. Now, I gotta tell ya, I can remember a lot of things, mostly as a result of living a lot of years and thus spending a lot of years finding out about a lot of stuff, but 1910 was not one of them. Full Story
By: Rick Ackerman, Rick's Picks - 26 October, 2012
Mario Draghi, feather merchant to northern Europe, is once again plying his dubious trade, this time with a slick sales pitch designed to persuade Germany that he can “save” Europe with a financial scheme that makes alchemy look respectable. The challenge he faces is more ambitious than merely putting another dab of lipstick on the PIIGS. Rather, it is like asking the Germans to press their noses to a sardine’s armpit and have them come away reassured they’ve smelled fine perfume. Full Story
The inaugural installment of this collection of essays first appeared on LewRockwell.com on September 29, 2009 - fittingly, Ludwig von Mises' birthday. Dr. North is one of the foremost Austrian economists and economic historians working today, and has gained a wide following with his writing and lectures. These essays are virtually impossible to overrate; they clear up so much of what is misunderstood about money and banking. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 25 October, 2012
Appended is another example of the idiot journalism the planet is up against -- a rambling and practically unconscious discourse about the German federal auditors office's call for an inventory of the country's gold reserves, held at the Bank of England, the Bank of France, and the Federal Reserve Bank of New York. Full Story
My son, Jeff, is currently attending the University of Texas at El Paso, UTEP pursing a degree in Geology with a soon to follow Masters in Geophysics. This is a personal story for me. I have taken Jeff with me to several investment conferences, San Francisco and New York. He has had the opportunity to visit with some of the most respected names in the business and I am proud he has chosen this profession. Full Story
By: Rick Ackerman, Rick's Picks - 25 October, 2012
Although Apple shares have gyrated wildly this week, soaring $27 on Monday and then plummeting $18 yesterday, the stock is probably just warming up for the big event later this week. Our guess is that the company will announce stellar earnings after the bell on Thursday, but that attempts to rally the stock will be overwhelmed by the bearish tide of Q3 earnings reported to date. Full Story
Looking at the gold chart below, we can see that gold has been correcting over the last two weeks. When applying some technical analysis to the gold chart, we can clearly see that there would have been overhead resistance at $1800 since most of the year gold has traded between $1550 and $1800. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 24 October, 2012
The first thing to understand when you're investing in the resource sector is that all major markets are now manipulated, mostly surreptitiously, by governments. There are a few reasons for this explosion of manipulation but the big ones are that the world economy has grown terribly unstable in recent years (in large part because of smaller manipulations by governments) and because an international currency war has broken out. Full Story
It's strange what you encounter when you try to take a serious look at the gold policy of central banks and their agents, the bullion banks. Some observers, including the Gold Anti-Trust Action Committee (GATA), estimate that Western central banks have on hand nowhere near as much gold as they claim. These observers suspect that much Western central bank gold has been sold or leased largely surreptitiously to restrain the gold price over the last two decades. Full Story
LET'S SAY you owe the world €2 trillion, but you also hold the world's 4th largest hoard of physical gold. Sounds like a no-brainer, right? Use Italy's gold to pay Italy's debt. Trouble is, Rome's gold would be worth only a drop in the bucket – a mere 10% of its outstanding debt. The gold isn't Rome's to sell either. It belongs to the central bank, the Banca d'Italia. And under the terms of the Eurozone treaty, as well as domestic law, that puts it beyond the reach of grabbing politicians, as Silvio Berlusconi learnt in 2009. Full Story
By: Dan Steinhart, Casey Research - 24 October, 2012
The US has too much debt. This is no longer a controversial statement. Some may believe other problems are more urgent, or that we need to grow our way out rather than slash spending. But even the most spendthrift pundits acknowledge that the debt-to-GDP ratio of the US must decrease if we are to have a stable, prosperous economy. Full Story
By: The Gold Report and Charles Oliver - 24 October, 2012
Sprott's Charles Oliver says it's a great time to be heading up a precious metals fund. Gold and silver companies are trading at spectacular valuations, quantitative easings by the governments of the world are poised to strengthen the metals' prices even further, and more bargains could be had soon if investors dump stocks to avoid taxes. In this interview with The Gold Report, Oliver, manager of the Sprott Gold and Precious Minerals Fund, talks about the momentum building for gold and silver. Full Story
By: The Gold Report and Peter Vermeulen - 24 October, 2012
Peter Vermeulen, portfolio manager with the Plethora Precious Metals Fund in The Netherlands, offers a European perspective on investing in precious metals juniors. In this exclusive interview with The Gold Report, Vermeulen offers solid insights to help manage risk in junior mining portfolios. Full Story
As the presidential election is rapidly approaching, little attention seems to be getting paid to the question that may affect voters the most: what will happen to the “easy money” policy? Federal Reserve (Fed) Chairman Bernanke’s current term will expire in January 2014 and Republican candidate Mitt Romney has vowed that if elected, he would replace Bernanke. Given the tremendous amount of money the Fed has “printed” and the commitment to keep interest rates low until mid-2015, the election may impact everything from mortgage costs to the cost of financing the U.S. debt. Trillions are at stake, as well as the fate of the U.S. dollar. Full Story
So, we will be watching which way goeth gold in the short term, up 4% or down 11%, before the next big moves predicted by the charts take place. At present we do not expect gold to plummet from a bearish triple top pattern. The fundamentals support high gold prices for the foreseeable future. However, we shall stay vigilant as we tip toe past the triple top cemetery. Full Story
The run up and aftermath to the FOMC’s QE announcement last month brought a surge of bullish optimism to market players – especially those in the over bought precious metals – that was unsustainable. Enter the predictable October fright fest that has seen big-name US earnings reports routinely punished and sentiment knocked down across the broad markets. It should be clear to all by now that the US economy is decelerating. Full Story
Hands down, the best way to trade stock market volatility day today is simply not to do it, cash out, and purchase hard assets, in particular, precious metals. Attempt to trade stock market volatility given how rigged every market in the world is today, and you will eventually get burned, and likely burned badly. Of course it is very possible to trade market volatility and also make loads of money but in order to do this, one has to wait until near-perfect set ups exist and as every trader knows, the enemy of most traders is patience and most enter in and out of markets way too frequently. Full Story
Quite a few articles have been written about the importance of owning Gold and other precious metals as a means of maintaining one’s wealth in the face of rampant money printing by the world’s Central Banks. Today I’m going to share some ideas on how to actually buy bullion. Full Story
In my last article I warned traders that markets, especially gold, were at risk of a profit-taking event. This was due to the fact that the dollar had found an intermediate bottom and begun a counter trend rally. I think the second stage of that rally is probably beginning today. I'm looking for the dollar index to test the downward sloping 200 day moving average before rolling over and continuing the secular trend. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 23 October, 2012
The gold and silver price has and will move in tandem with each other, with silver moving higher still when gold prices rise and falling further when gold prices fall. Despite different fundamentals behind the two and a different pattern of mining [silver is a by-product of base metal production usually] the two metals are reflecting their value as a means of saving value and wealth, their monetary value. This won’t change as we see the economic currents behind the world’s financial system continue to falter. Full Story
In the Toronto Stock Exchange Venture Index (which is a proxy for the junior miners as so many of them are included in it), the outlook remains bullish even with the declines seen in precious metals’ prices over the last two weeks. The index remains above its support line, and the outlook makes the picture bullish. Summing up, even though the short-term outlook for mining stocks is a bit unclear, the medium term case is very bullish in our view – especially for the junior mining stocks. Full Story
By: John Mauldin, Millennium Wave Advisors - 23 October, 2012
Having been to all the countries listed above, with the exception of Uganda (although I have been to 15 countries in Africa, several bordering Uganda), I am most happy to confirm that they are all different. Just as you would grant me the fact that the US is not the UK and that France is not Argentina. To paraphrase Tolstoy, dysfunctional countries come by their unhappy sets of circumstances in their own individual ways. Full Story
Famed Austrian economist Ludwig von Mises wrote in his seminal work, Human Action (originally published by the Yale University Press in 1949), that “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.” The collapse of a historic credit bubble occurred in 2008. However, despite years of further credit expansion, “a final and total catastrophe” of the U.S. dollar system has yet to occur. Full Story
Voltaire said in 1729: “All paper money eventually returns to its intrinsic value – ZERO.” WE were warned – almost 3 centuries ago. Bernanke announced QE3 on September 13, 2012 – the next step in the process of pushing the dollar down toward its intrinsic value. Not only is the Fed making a commitment to purchase $40 Billion per month of MBS (mortgage backed securities) from large banks with “newly printed money,” it is also making an open ended commitment – there is no end date. Full Story
Surveys show that most money managers are focusing less on the euro crisis, and more on the US fiscal cliff. They are also worried that China’s housing market could implode. While housing and employment statistics improved a bit since QE3 was unveiled, many analysts have questioned the significance of that improvement. In the current environment, it’s very difficult to envision Ben Bernanke doing anything that is fundamentally negative for gold. Full Story
It was fascinating to read the comments of ‘Mr Gold’ Jim Sinclair this week about gold heading for $3,500 to $12,400-an-ounce as a result of a shift in spread management by the bullion banks (click here). He used to run one so knows exactly when and why these banks are likely to slash their short positions and go fully long in the precious metal. Full Story
In How to Survive the Crisis and Prosper in the Process (3rd ed., 2012) I describe the five stages of gold. When I began writing the book in 2006, gold was in Stage 2. In 2007, gold entered Stage 3 where speculators and investment funds become a factor the increasingly volatile price of gold. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 23 October, 2012
25 years ago, on another Monday in late October, the financial world seemed to disintegrate in a heartbeat. Though the 205 point drop in the Dow last Friday (the technical anniversary of the '87 Crash) was somewhat reminiscent of its 108-point drop on Friday, October 16, 1987, the real action in '87 was on the Monday that followed. And while this Monday is not nearly as black, it is important that we use the opportunity to recall the circumstances that nearly sent the stock market into cardiac arrest. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 22 October, 2012
With the Associated Press report appended here, the German gold audit story has just exploded into the English-language press with some important revelations: The gold vaulted by the German central bank, the Bundesbank, with the Bank of England "has fallen 'below 500 tons' due to recent sales and repatriations. ..." So despite the lack of official announcement, Germany lately has been selling gold from London -- perhaps as part of the secret "strategic activities" grudgingly acknowledged two years ago by the Bundesbank to GATA's friend, the German financial journalist Lars Schall... Full Story
Doug, we've spoken about presidents. We have a presidential election coming up in the US – an election that could have significant consequences on our investments. But given the views you've already expressed on the Tea Party movement and anarchy, I'm sure you have different ideas. What do you make of the impending circus, and what should a rational man do? Full Story
As the upcoming presidential election looms on November 6th, the recent 'correction' lower in gold and silver came once again as the COT report showed short positions held by Commercial Traders increasing notably as the net long positions held by large and small traders also grew. Full Story
A ZeroHedge reader who goes by the handle “Kito” took me to task last week for straddling the fence. On the one hand, he observed, I have been predicting a huge Dow rally to 14969. More recently, though, in a commentary published last week and rightly seized on by Kito, I said to hell with the bullish target; with Apple, IBM and Google shares getting bludgeoned, it’s only a matter of time before the bloodshed spreads to the broad averages. So which is it, Kito has asked? Full Story
Show Highlights: Guest Interviews. Headline news & the Market Weatherman Report. Host answers phone calls and email questions. Guests: Charles Goyette, The Dollar Meltdown Peter Grandich, The Grandich Letter Full Story
Since being shunned by traders last year after a series of margin increases, gold has enjoyed a worthy comeback since turning around this summer. The yellow metal rallied from a yearly low of $1,540 to a recent high of nearly $1,800. All in all, not a bad performance in just over an eight week period. Full Story
‘Mr. Gold’ of the 1970s, Jim Sinclair, the one-time adviser to the Hunt Brothers who cornered the silver market then is flagging up an imminent change in the way the bullion banks manage their spreads, something he feels is inevitable from his own long experience of the business. Full Story
Gold only fell 1.88% for the whole week and this may anger some. If you’re one of them, give your head a shake! One leading stock was off some 15% on Friday alone after a less than stellar earnings report. Now that is a scary move! If gold were to drop that much in a single day, it would be something to get nervous or even upset about, but a drop of less than 2% over the period of a whole week is no big deal at all in my view. Full Story
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