By: Marin Katusa, Casey Energy Opportunities - 28 October, 2011
One of Spain's largest oil companies, Repsol, is gearing up to spud a deep, offshore well in Cuban waters, just 60 miles from the Florida Keys. A huge rig is still en route to the site from Singapore, and as it draws closer to its destination the zealous opposition from Floridian politicians who rely on the Cuban expatriate vote gets louder. Full Story
The FINANCIAL TIMES took two days to catch on. Monday's edition of the FT was printed too early to catch it; Tuesday's looked way off the mark by the time it came out. But Richard Nixon had cut the US Dollar's link to gold – and thus everything else's link to gold too – on Sunday evening, Washington time, 15th August 1971...just like the Pink 'Un had failed to forecast. More than 40 years later, the rest of the world is still only now catching on. Full Story
The yellow metal, money for more than three millennia, has a close relationship to other forms of money. Some argue that it isn’t gold that has risen in value in the last decade, as much that fiat currencies have lost value against gold. Ever since gold began its spectacular rise a decade ago, the U.S. dollar has lost over 80% of its purchasing power. Full Story
The Silk Routes, collectively known as the "Silk Road", refer to a 7000 mile network of interlinking trade routes that were used for three millennia. They connected China, India, Tibet, the Persian Empire, the Mediterranean countries and parts of North and East Africa. Full Story
Eurozone issues are critical for many reasons including the fact that they are a harbinger of those facing the World’s largest Economy and Reserve Currency. Issuer, the USA, in the not too distant future. Full Story
By: Scott Wright, Zeal Intelligence - 28 October, 2011
Each year a small portion of the world’s finite oil supply is drained. And over time this annual draw has grown larger in a world that seems to be getting smaller. As global commerce gains fluidity, the demand for this hydrocarbon appears to be insatiable. Full Story
The markets appear euphoric about the ability for European policy makers to deliver on new promises. Low market expectations were met. We, too, have a positive takeaway, but only because of one detail of the grand plan; actually, let’s call it a “grand sketch,” as many details are still unknown. Full Story
Okay, so glad you’re back with us for another GoldSeek.com Radio Gold Nugget segment. My special guest today, Richard Daughty, aka the Mogambo Guru. Full Story
The following conversation took place between a friend's son and me; he's a bright but relatively young investor. He had purchased some gold based on some things I'd told his father. Shortly afterward, the price dropped hard. As you'll see, he was not very happy with my advice and said so in an email to me. So I called him… Full Story
By: Jeff Berwick, The Dollar Vigilante - 27 October, 2011
Slowly, as Americans are waking up to the fasco-communist police state that surrounds them and realize that the economy in the US will never recover until after the US dollar hyperinflates into worthlessness, we receive more and more emails with sad stories and desperate cries for help. Full Story
First off, let’s call this for what it is: a default on the part of Greece. Moreover it’s a default that isn’t big enough as a 50% haircut on private debt holders only lowers Greece’s total debt level by 22% or so. Full Story
The WOLRD HAS endured these sorts of crises before. Somehow they come to an end. What happens? Sometimes, someone turns up who can prop up the collapsing debt mountain, and they make it grow higher, for a little bit longer. For a short while they are even called brilliant, but they leave a bigger problem than they started with. Eventually the thing comes crashing down and the creditors pay – always. Full Story
By: Michael Finger, Communications Specialist for Euro Pacific Capital - 27 October, 2011
In an agreement announced overnight, the European Union offered $100 billion to stem an imminent Greek debt default in exchange for a 50% haircut to Greek bondholders. This is a bittersweet victory for those of us who believe in the power of the free market. Full Story
Central banks exist for a single reason – to inflate the supply of paper currency. They are a currency-creating and currency-inflating institution. This serves two interest groups in the main. One is the fractional-reserve banks that they regulate. The other is the government that created them. Full Story
During the Great Depression, at a certain point, gold stocks started a massive rally. While most things were going down in price, gold stocks made significant gains, becoming one of the best performing sectors during that time. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 October, 2011
In this part of our series, we looked at where in the world one invests in a precious metal share and the factors that must be considered. Also, should one invest in a gold fund, holding a spread of gold shares, or in gold shares direct? We look at the two options. Full Story
"HANDS OFF!" shouts German newspaper Bild today. "Failed states are still going to get our gold," screams the tabloid's headline. Hmmm. "This may not be true," admits the opening sentence of the article itself. "But nevertheless!" Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 26 October, 2011
Remarks by Chris Powell Secretary/Treasurer, Gold Anti-Trust Action Committee Inc. New Orleans Investment Conference Hilton Riverside Hotel, New Orleans Wednesday, October 26, 2011 Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 26 October, 2011
President Obama today announced a plan that will ensure students are able to commit to higher levels of federally backed student loans. By limiting student obligations to repay, and by passing more of the repayment burden onto taxpayers, colleges and universities will be able to continue to raise tuitions at a rate that outpaces nearly every other cost center in the American economy. The move will come as a great relief to an education establishment increasingly concerned that students might no longer be able to afford skyrocketing tuition rates. Full Story
The feverish positive sentiment has left the Gold & Silver market in the last two months. Raised margin requirements during falling prices alongside naked short ambushes in the COMEX, coupled with permitted asset damage from debt monetization conducted more in secrecy will always help to dampen enthusiasm. But with the billboard message on the European subway walls and boulevards and news magazines stating the obvious, that the European debt crisis has no solution, that Germany has no more checks to write in funding the bailouts, that Greece is set to default, that leaders in political spheres are opposed by bank leaders where the final decisions are made, the GOLD & SILVER PRICES ARE SET TO ZOOM. Full Story
By: The Gold Report and John Hathaway - 26 October, 2011
The end of 2011 is a golden opportunity to participate in an anticipated upside for mining equities, says Tocqueville Asset Management Senior Managing Director John Hathaway. We caught up to him at the Casey Research/Sprott Inc. Summit "When Money Dies" for this exclusive interview with The Gold Report. Hathaway predicted that once investors realize higher gold prices will stick, they will take a chance on the big upside waiting in the junior and senior space. Full Story
Foreign central banks buy US Treasury and Agency debt through accounts at the Federal Reserve, where it is held in custody. Without these central banks buying our debt, the US federal government would have to find a new source of funds or the result could be higher interest rates. Looking at the data on a monthly basis (and then multiplied by 12 to give the annual rate), here is the dramatic picture of how foreign central-bank purchases of our debt have shifted, from buying $500 billion to selling off $1 trillion. Full Story
In this excerpt from the Casey Summit When Money Dies, seasoned resource investor/broker Rick Rule discusses risk management and explains why the greatest risk you face as an investor is located to the left of your right ear and to the right of your left ear. Full Story
By: Neeraj Chaudhary, Investment Consultant with Euro Pacific Capital - 26 October, 2011
According to US government figures, the yield on the 10-Year US Treasury note reached a record low of 1.72% last month. Thus, despite the fact that government debt has exploded at a rate of more than $1 trillion per year, and the fact that S&P recently downgraded US debt, it appears that market demand for long-term US debt is nearly insatiable. Full Story
The extreme of 2008, created by panic selling as a result of the financial crisis, produced a once-in-a-lifetime buying opportunity. However, few were able to benefit from the situation as fears for the worst dictated investors’ behavior. The ratio Price/Net Asset Value has now fallen again to the level of 2008. Because of this dramatic price decline in these stocks, investors have the opportunity to purchase explorers & developers (E&D), often referred to as juniors, at about half of the company’s net asset value (NAV). Full Story
On its face, suggesting that the Occupy Wall Street movement may threaten the U.S. dollar may appear like a tall order. However, simply dismissing Occupy Wall Street as a fad may be a big mistake, just as it is a mistake to dismiss the Tea Party movement. Regardless of your political stance, and with no offense intended to supporters of either group, we believe they may be two sides of the same coin – quite literally. To determine where policy makers and with it, the U.S. dollar, may be heading, it is important to understand that the driving forces behind both movements have common roots. Full Story
By: Bob Chapman, The International Forecaster - 26 October, 2011
We address this European issue, because soon it will debut in the US. The comprehensive policy response, which we have been told existed, really doesn’t exist. We found that out last Friday. All the lies of the past two weeks by various European governments and bureaucrats, as well as Mr. Sarkozy and Mrs. Merkel, were just more delaying tactics to attempt to find a solution to Europe’s financial dilemma. As part of this display of smoke and mirrors, these hopeful signs, generated large gains in US and European stock markets, of course, with the assistance of the “President’s Working Group on Financial Markets.” At the same time as usual gold, silver and commodities markets were attacked viciously. This is how markets and economies are manipulated when in control of our corporatist fascist government. Full Story
Opec Governor for the UAE Ali Al Yabhouni this morning opened the Mena Mining Congress 2011 in Dubai with a lot of interest focused on the growing amount of gold and silver exploration and production in the region, regardless of the problems posed in some countries by the Arab Spring. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 October, 2011
The volatility we warned about in the newsletters came with a bang one day ahead of schedule and gold vaulted from yesterday’s $1,652 to $1,700 in late U.S. trade. Asia then London continued to take it higher to $1,715 just after London’s opening. This morning the gold price was Fixed at $1,713.00 and in the euro at €1,229.543, as the euro remained steady at €1: $1.3936. The euro was steady at that level ahead of New York’s opening at €1: $1.3934 with gold holding the $1,714.30 level and in the euro at €1,229.40. Full Story
In this video excerpt from the Casey Summit When Money Dies, Rich Dad advisor Mike Maloney explains how currency is created, "fractional reserve banking," and why our banking system is a pyramid scam of epic proportions. Full Story
Relative strength is defined as the measuring of one market against another over a specific period of time. Relative strength is an important concept in any bull market. After all, if you’ve found the bull market why not find the leaders? We consider relative strength particularly important when analyzing gold and silver stocks. There are hundreds of gold and silver stocks and despite the larger trend, they won’t always trend in the same direction. As a result, you need to be a stock picker in this sector if you want to earn the best returns. Full Story
What is the definition of leverage? Seek the definition that makes you richer in the market, while chopping risk. How is that possible? The sentence, “He’s leveraged his position with this this new information” is a description of leverage that is not borrowed money. If you invest 70% of your net worth in a few junior gold stocks at a single point in time, you may be correctly labelled as somebody trying to leverage your net worth position with a junior gold stock tool, even though you used no borrowed money to do it. Full Story
A recent International Monetary Fund report estimates that China exports more inflation to the developing countries than had been previously assumed. For every 1 percentage increase in Chinese inflation, the increase in Asia-Pacific countries is 0.25-0.5 percent. The report argues that the real danger for regional inflation is an up-tick in Chinese output driving commodity prices up. It notes that a 1 percent increase in Chinese output can raise global commodity price inflation by about 5 percent and that the Asian-Pacific region is especially vulnerable to commodity price increases since food and energy compose a sizable proportion of average daily spending. Full Story
Occupy Wall Street demonstrations are sweeping the globe. Universally, demonstrators recognize that there is something fundamentally flawed with the current system of international political economy. Most interesting, the left and the right agree on a few key issues. For decades, big business has bought and paid for political favors that have undermined the system, rotting the foundation of international free market capitalism. Hard work, individual responsibility and accountability are now optional. Just reward for success and the consequences of failure are now subject to political caprice. A civilization built on essential but abandoned principles is coming apart at the seams. Full Story
By: The Gold Report and Jeff Wright - 25 October, 2011
With investors and hedge fund managers taking flight toward cash and larger-cap equities, and the European sovereign debt crisis still hanging fire, the market is in for a bumpy ride, but in this exclusive interview with The Gold Report, Jeff Wright, an analyst with Global Hunter Securities, foresees upward trends for gold. Full Story
Germany (EWG) has taken the path away from nuclear following Fukushima by shutting down their reactors and importing natural gas from Russia (RSX) and nuclear energy from France(EWQ). This move away from nuclear is no way to run a modern industrial nation which has heretofore been the strongest economy in the Eurozone area continuously bailing out their debt ridden neighbors. After this move we hear news that the once burgeoning German economy is grinding to a halt due to a “sharp drop in energy production after the government shut down eight nuclear plants after the Fukushima reactor disaster in Japan.” Full Story
By: Rick Ackerman, Rick's Picks - 25 October, 2011
The retail blight that has laid waste to malls and shopping plazas across America has claimed yet another high-value victim near our Colorado neighborhood: The Great Indoors, a remodeling and redecorating megastore in Broomfield’s Flatiron Marketplace. When the Sears-owned emporium goes darks in mid-December, it will leave 58 people jobless and a 155,000-square-foot building empty. Full Story
Are you watching your savings evaporate as the Federal Reserve keeps printing & devaluing our currency? Wonder how you can get out of paper money, T-Bills, and stocks before Hyperinflation confiscates your wealth? Come meet with other successful investors in a venue that is richly steeped in tradition and elegance, the Four Seasons in downtown Denver. Full Story
October has a tendency to be a “bear killer.” That is, in years when the stock market has been in decline heading into October, the month of October more often than not reverses the decline, at least temporarily. In the years that I’ve been writing a financial newsletter this was true in the following Octobers: 1998, 1999, 2001, 2002 and 2005. Full Story
Around here we like to track things from the outside in, as the initial movements at the periphery tend to give us an early warning of when things might go wrong at the center. It is always the marginal country, weakest stock in a sector, or fringe population that gives us the early warning that trouble is afoot. For example, rising food stamp utilization and poverty levels in the US indicate that economic hardship is progressing from the lower socioeconomic levels up towards the center -- that is, from the outside in. Full Story
Technically the picture for gold now looks strongly bullish. Action played out last week exactly as predicted in the last update with gold breaking down from its Pennant pattern AND ABORTING THE BEARISH IMPLICATIONS OF THE PENNANT, by dropping back modestly instead of plunging. It arrived back in our target zone near $1600 on Thursday and then reversed quite sharply to the upside on Friday. While nothing is guaranteed in this business and there is still a reduced chance of its being a Pennant with an amended lower boundary, this action implies that a positive QE-rich resolution of sorts of the acute problems in Europe is imminent, despite the severe and intractable problems there. Full Story
On Monday, the first gold contracts denominated in the Chinese Renminbi (also known informally as “yuan”) came to the Hong Kong market. Analysts have been quick to note the implications of a yuan-denominated contract, realizing that the new contract could drive nearly three times as much demand as the dollar-denominated contract. Full Story
By: Rick Ackerman, Rick's Picks - 24 October, 2011
The markets have opened lethargically Sunday night, although the S&P index futures are threatening to break out of a tiresome four-point range that has contained them for nearly five hours. It’s eerily quiet, like the noiseless moment in a slasher film just before the chain-saw wielding psychopath leaps from the shadows. Full Story
Are you watching your savings evaporate as the Federal Reserve keeps printing & devaluing our currency? Wonder how you can get out of paper money, T-Bills, and stocks before Hyperinflation confiscates your wealth? Come meet with other successful investors in a venue that is richly steeped in tradition and elegance, the Four Seasons in downtown Denver. Full Story
Headline news & the Market Weatherman Report. Spotlight Stock Picks. Host Chris Waltzek & Bob Chapman, The International Forecaster discussion and answer listener's questions. GUEST BIOS: Bill Murphy, GATA.org Full Story
By: Bob Chapman, The International Forecaster - 23 October, 2011
After three years banks are still working on a mortgage plan as 22.5% of existing mortgages remain underwater. Banks are sitting on $700 billion of home equity loans and seconds at original values, not market value. This refusal needless to say totally distorts their balance sheets. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 23 October, 2011
CMRE President Elizabeth Currier chose the title of my remarks -- "Where in the World Is the Gold?" -- and I didn't argue with her, but if I knew where the gold was, they'd have to kill me. And if I knew and told you before they got to me, you'd all have a big problem too. Full Story
By: John Browne, Senior Market Strategist at Euro Pacific Capital - 23 October, 2011
As a final bailout framework for Greece continues to elude negotiators from France and Germany, the situation on the ground in Athens continues to deteriorate alarmingly. Protests have turned increasingly violent and riots have occurred in the most sensitive portions of the Greek capital. Full Story
The International Monetary Fund dropped a bombshell on the EU leaders summit last night saying that it would not after all pay for a second Greek bailout, according to The Daily Telegraph. Senior sources said privately that the IMF has indicated that it will not be willing to bailout Greece any further. Full Story
As the European Union continues to discuss the possibility of a new bailout fund, news is breaking that any European banking bailout may cost as much as 2 trillion Euros, or $3 trillion. The $3 trillion sum, which would be raised through the EFSF, may also be charged to the IMF. Full Story
By: The Gold Report, James Turk, Andrew Kaip, and Ian McAvity - 23 October, 2011
For this special report from the Cambridge House Silver Summit in Spokane, Washington, The Gold Report caught up with three silver investing experts: James Turk, chairman of GoldMoney; Andrew Kaip, vice president of Precious Metals & Mining at BMO Capital Markets; and Ian McAvity, a writer at Deliberations on World Markets. While the three didn't all agree on why silver acts the way it does, they all said that it belongs in some form in a diversified portfolio—but only for those who can handle volatility. Full Story
The week was a wild one with lots of choppy action in the indices as was to be expected as bases build here nicely. We had options expiration this past Friday as well so that usually tends to throw a wrench into things. Full Story
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