In this final Part III, we look at the fact that gold is a tangible commodity. While the question of whether gold is a currency is important, and it’s good to think about philosophical concepts such as arbitrage, let’s not forget that gold is a material good. It can be held in the hand, it can be bought and sold, and it can be warehoused. Full Story
By: Scott Wright, Zeal Intelligence - 28 March, 2014
In 2014 B2Gold is targeting gold production of 410k ounces from three different mines. This would be record output for this new mid-tier, a whopping 159% increase in volume over just a couple years ago. And with its fourth mine on schedule to pour its first gold in Q4, B2Gold is looking at an annual production rate of 550k+ ounces by this time next year. Full Story
This is not simply another case of “Let them eat iPads” cynicism. Hitting the wholly arbitrary 2% inflation target is sacred doctrine inside the Eccles Cathedral, and Yellen takes her scriptures, along with her money printing, every bit as literally did as the legendary William Jennings Bryan. Indeed, failing the inflation target “from below” amounts to a Cardinal Sin. Full Story
When in the course of human events it becomes necessary for one…. We’re sure that almost all of you will recognize the beginning of this historic document. Notice its title; it was a declaration. Could just as easily have been called an affirmation. But it merely stated in words what was already reality. For all of Jefferson’s wisdom, his most popular piece was merely a restatement of fact. Full Story
The Chinese sold a record Amount of U.S. Treasuries in December, 2013. The WAR in The Key Financial Sector is moving into Stage 2. The Stage 2 War will have Substantial Effects on virtually all Sectors of the Economy and Markets. Those aware of its Prospective Effects will be able to Profit and Protect Wealth. Those Unaware will likely suffer Great losses. Full Story
Governments hate sound money. Even worse, people hate sound money. Governments hate it because it puts severe limits on what governments can do. People hate it because it would mean taking responsibility for their own lives, relying on their resourcefulness instead of the government. Sound money can’t be printed, and governments that can’t print can’t buy as many votes. They tend to let the chips stay where they fall. Full Story
Silver has been in a bear market for almost three years and the recent lack of strength suggests the metal could be headed for new lows. New lows are always bearish until the last one. Our technical work suggests that we should watch for a final low and end to the bear market in the coming months. Full Story
The above chart had always been interesting. The chart compares the US debt limit with the rise in debt and the rise in the price of gold. As the US debt limit was increased and the US debt grew, gold prices appeared to move in lockstep. That is until about 2011 when gold prices took off. Since the gold price has gone through one of its biggest shakeouts. Now it has fallen behind the debt limit and debt about as much as it exceeded them at the top in gold prices in September 2011. So will it adjust again to bring the trend back into balance? Full Story
Fabrice Drouin Ristori : Mr. Chevallier, thank you for this interview. Before we talk about the banks’ situation in France, could you quickly introduce yourself? Jean-Pierre Chevallier : As an associate professor, I mostly taught financial analysis at the University of Nice. I am now retired and continue to work freely as a contrarian business economist/monetarist/behaviorist, and I am continuing with my independant proprietary financial analyses. Full Story
Former Comptroller General of the United States David Walker talks about the trouble with Obamacare and the sky-high national debt… how much to spend on national defense… and outlines his top 3 reforms to fix the US government. Full Story
Isn’t there a song lyric that goes; “what goes up, must come down, spinning wheels..”. This pretty much describes gold in the first quarter of 2014 if you look at the price action since the end of last year. Gold feel to new lows on the last day of 2013. Starting on the first day of 2014 gold began to rally and continued that rally until it hit a high of 1392.6 on March 17, 2014. Today’s date is March 26, so I’m not talking about current highs. Full Story
Investors dodged another bullet recently as geopolitical instability temporarily subsided after Russia’s annexation of Crimea. Although U.S. equities have experienced an internal correction since then, most of the damage has been relegated to over-extended tech stocks that were in need of a pullback. Full Story
The strategy I’m writing about today is one of my favorite, guaranteed moneymakers. These are trades we can all easily make, requiring no capital outlay and guaranteed to make a profit or you don’t make them. What’s the catch? We might occasionally find ourselves lamenting how much more money we might have made. Full Story
I’d bet that most International Man readers are familiar with Peter Schiff. He is a financial commentator and author, CEO of Euro Pacific Capital, and is known for accurately predicting the 2008 financial crisis. He also has a very keen understanding of internationalization. Peter shares with me his strategies in this must-read discussion below that I am happy to bring exclusively to International Man readers. Full Story
In conjunction with the implementation of the Volcker Rule (effective April 1, 2014 with full compliance now scheduled by July 21, 2015) there has been an exodus of talent from the banks. The latest heavyweight departure came yesterday when Jamie Dimon’s closest aide, James Cavanaugh, left JP Morgan for the Carlyle Group, a private equity firm. Cavanaugh was considered Dimon’s heir apparent. Full Story
There is a lot of talk now about a flattening of the yield curve. This talk has been among the most intense right here at the website you are reading at this moment. A flattening curve is commonly viewed as bad for gold, and according to Mark Hulbert, is an indicator of a coming recession. But is the curve really flattening or is this all hype based on Janet Yellen’s press conference comments? Here is a chart the likes of which we have been using in NFTRH for many months now, the 30 year vs. the 5 year yield. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 26 March, 2014
For 15 years the Gold Anti-Trust Action Committee has been documenting and publicizing the largely surreptitious manipulation of the gold market by Western central banks, a longstanding policy of gold price suppression aimed at controlling the currency markets and interest rates. While GATA is a research, educational, and civil rights organization, those who object to examination of our topic call us a "conspiracy theory" organization. Full Story
By: The Gold Report and Jeff Killeen - 26 March, 2014
The price of gold may be enjoying a double-digit increase so far this year and some equities may even have doubled their value, but Jeff Killeen of CIBC World Markets says it's not time to jump into metals with both feet. Be selective, Killeen says in this interview with The Gold Report. Full Story
As we get geared up for the Sweet 16 this weekend it’s interesting to note how investing and participating in a NCAA tournament bracket pool share some similarities. To win an NCAA pool, you have to pick a bracket that beats your opponents by picking teams that win games and earning more points for correct picks than everyone else. In the market you have to pick assets that go up or down in price before your opponents get into the same assets, so that you have someone left to sell to, to realize your gains. Full Story
So tell me, what was China doing late last week and early this week as gold got harpooned? Did gold suddenly decline because of the much hyped ‘China demand drop’? Did supposedly massive physical demand suddenly dry up on the spur of a moment? There’s always a seller on the other end of that demand you know. Full Story
Ben Bernanke, Janet Yellen, and Alan Greenspan have explicitly stated within the last few months that stock markets are not in a bubble. History shows their track record on such predictions is embarrassing, which has left both Greenspan and Bernanke grasping for excuses after previous bubbles burst on their watch. Soon it will be Janet Yellen's turn to backpedal, as there is simple-yet-compelling evidence that stock markets are indeed right now in an unsustainable growth pattern. Yup, it's a bubble. Full Story
The mention of a government-backed IRA in Obama’s state of the union address earlier this year may look like a good deal. After all, who wouldn’t want a retirement account with the full backing of the US government? But, despite its fanfare, myRA may not be the right choice for all (any) investors. Read on to see why this new program isn’t all it’s cracked up to be. his finger to his lips as if to say "Shhh!" Full Story
This article shows how Gold has been following the Golden Ratio which predicted all the major turning points with a high degree of accuracy for the past thirty years, and reveals the next possible major turning points. The Golden Ratio 1.618034… (also called the Golden Number, the Golden Section or the Golden Mean) can be found everywhere around us from mathematics to architecture, from nature to our own anatomy. But as you can see in the following analysis, it can also be found in the Gold Metal Charts. Full Story
There are two ways a nation can use economic growth to reduce budget deficits. The first method is to participate in economic growth, with a growing economy increasing tax collections. A second method is to raise taxes so drastically that they consume all economic growth. The United States government recently announced it has some great news - a fast moving economic recovery is slashing the size of the deficit. Full Story
There are very few price areas where risk capital can be invested in gold, with a reasonable degree of confidence that a “significant low point” will be established there. In my professional opinion, those price areas are major HSR (horizontal support and resistance) zones. These key HSR zones are most apparent on the weekly and monthly gold charts. Please click here now. Double-click to enlarge. On this monthly gold chart, note the buy-side HSR in the $1227.50 area. Even when the gold price “arrived” in this key area, it still declined about $50 further, to $1180. Full Story
Delusions die hard! The delusions regarding the value of paper currency, usefulness of the Fed, government entitlements, the welfare and warfare state, and continual growth are weakening. The ultimate reckoning may be sudden or slow, but it will not be pretty for the unprepared. Full Story
There have been runs on two small banks in China with depositors fighting to get through the doors to make withdrawals when they opened. Is this the first crack in the great wall of Chinese credit? Reuters reported local news about queues outside the Sheyang Rural Commercial Bank in Yancheng yesterday and the Rural Commercial Bank of Huanghai faced similar rushes by depositors today after rumors of insolvency at Sheyang. Officials say it is impossible for a Chinese bank to go bankrupt. Full Story
It seems that the last thing the internet needs right now is another story on the Crimea but this is an older story. Doug Casey once said he thought there should be 7 billion independent countries in the world - one for every human being on the planet. Just what is a country? The first thing that comes to mind is a group of people with a common culture that live in the same place that voluntarily band together for their mutual benefit. Sounds about right. However, how can 300+ million people in the US have a common culture? Full Story
By: The Gold Report and Brien Lundin - 24 March, 2014
Can you hear it? Brien Lundin does. It's the sound of the junior resource market mounting a comeback. In this interview with The Gold Report, Lundin, editor of Gold Newsletter, president and CEO of Jefferson Financial and the man behind the New Orleans Investment Conference, traces the rebound to Western speculators coming to the market at the same time that Asian buyers are maintaining a strong level of demand. Full Story
By: Laurynas Vegys, Research Analyst - 24 March, 2014
Despite last week’s pullback, the precious metals market is off to an impressive start in 2014. Gold is up 10.6%, silver 4.3%, and the PHLX Gold/Silver (XAU) 17.1%. Gold, in particular, had a great February, rising above $1,300 for the first time since November 7, 2013. This has led to some very handsome gains in our Casey International Speculator portfolio, with a few of our recommendations already logging triple-digit gains from their recent bottoms. Full Story
By: Steve St. Angelo, SRSrocco Report - 24 March, 2014
So where is China getting all of its gold? One of the large sources turns out to be the United States. The U.S. experienced another record year of net gold exports in 2013. Not only were gold exports at record levels, imports into the U.S. fell nearly half compared to 2010. If we look at the chart below, U.S. gold exports in 2010 were 383 metric tons (mt), however by 2013, they increased 81% to 692 mt. In addition, U.S. gold imports fell 48% from 604 mt in 2010 to 313 mt in 2013. Full Story
As we all know last week was a tough week in the PM sector. The real question we have to ask is whether this was just a short term correction in the uptrend that started at the December low or is this the end of the three month rally? We’ll look at some charts to see if we can answer this question. Full Story
Briefly: In our opinion short speculative positions in silver (half) and mining stocks (full) are justified from the risk/reward perspective. Friday was generally a calm day in the precious metals market and for the currency indices. The initial moves higher (in the early part of the session) were mostly invalidated later on and overall not much changed at the first sight. On second look, the lack of rally confirmed the breakdown in mining stocks. Full Story
As a native Canadian, hockey is in my blood, but after moving to Texas, the icy arenas changed to basketball courts, as the sole major league sports team in the city is the San Antonio Spurs. We’re proud fans, too, as the Spurs currently hold the best record in the National Basketball Association (NBA). Full Story
The stock market has shown about as much steadfastness and clarity lately as a policy speech from Janet Yellen. Too bad all the markets seem to live for any more is to channel the Fed’s inner egghead. When Yellen says ‘Osduifhsd!’ investors say, ‘How high’? And when she says ‘Blufum doozney, tachak,’ the mosquito-brained slackers who package and regurgitate the news dutifully interpret this gibberish as meaning she intends to tighten. Full Story
With a degree in geophysics and a number of fascinating summers in mining exploration, one winter in "the bush" quickly led Bob into the financial markets. This included experience on the trading desk and in the research department of a large investment dealer, which led to institutional stock and bond sales... Charles Goyette is an American talk show host and writer. He is a libertarian commentator, who is noted for his outspoken anti-war views, his opposition to the war in Iraq, and his economic commentary. He is the author of the book The Dollar Meltdown: Surviving the Impending Currency Crisis with Gold, Oil, and Other Unconventional Investments, which Congressman Ron Paul calls "a must read," and investor Peter Schiff describes as "...a sensible plan to protect your wealth." Full Story
In speeches and presentations since the end of last year, I have been saying that I think the biggest macro problem in the world today is China. China has run up a huge debt, and the payments are coming due. They seem to be proactive, but will it be enough? How much risk do they pose for the global system? This week as I travel to Cafayate I have asked my young associate Worth Wray to write up his research and our conversations on China. Worth has lived in China; and with his (and my) access to people with their fingers on the pulse of China, he has come up with some valuable insights. The hard part for him was to keep it in a single letter. China is a such a huge topic that writing about it can easily yield a tome. Full Story
From our perspective, the charts reflect the reality of the unreal within the ruling Western elites that continue their financial stranglehold over every Western government, at a minimum, and through their central banks dictating how governments are to rule the governed, aka those enslaved into the system. [We will deal with how charts are the best read, later in the commentary.] Full Story
With markets showing they need some time I took last weekend off to go away and get some skiing in so my apologies to the many who’ve emailed wondering my thoughts on gold and silver this past week. Markets remain choppy here with leading stocks needing time to setup better bases and charts, so cash remains a good position while we wait for the easy money to return. Gold tried to breakout but failed and could be looking for some more downside now. I’ve said all year and beyond that the slower gold moves up the better. Full Story
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