By: Bill Bonner & Eric Fry, The Daily Reckoning - 28 April, 2006
-No rest for the weary...don't make the wrong move on the edge of a cliff... -Two equally absurd sides to every story...no need for telephonic communication along the banks of the Rio... -Frankly, dear reader, Ahmadinejad doesn't give a damn...the first silver ETF is launched...and more! Full Story
By: Dan Denning & The Daily Reckoning Crew - 27 April, 2006
-We're not from around these here parts...unmaking money is the dangerous part... -Camping under the Milky Way...one decision leads to another... -The shift out of debt-based assets into real assets is on...the DR enters the 21st century!...and more! Full Story
Once upon a time not so long ago in a land not so far away, the Swiss franc was the strongest currency in the world. Outside of gold, it was the premier currency in which to seek a safe haven from periodic world monetary turmoil. It still is, but with a much reduced appeal with the advent of the euro. Full Story
By: Dr. Ron Paul, U.S. Congressman - 27 April, 2006
Economic law dictates reform at some point. But should we wait until the dollar is 1/1,000 of an ounce of gold or 1/2,000 of an ounce of gold? The longer we wait, the more people suffer and the more difficult reforms become. Runaway inflation inevitably leads to political chaos, something numerous countries have suffered throughout the 20th century. The worst example of course was the German inflation of the 1920s that led to the rise of Hitler. Even the communist takeover of China was associated with runaway inflation brought on by Chinese Nationalists. The time for action is now, and it is up to the American people and the U.S. Congress to demand it. Full Story
Iran keeps acting more and more defiant each time the US together with its Western allies hint that sanctions may on the table soon. They have tested several new missiles and torpedoes that can take out an Aegis war ship; at this moment in time there is no defence against these missiles due to their ultra high velocities. Today Israeli Intelligence announced that Iran received a missile shipment from Korea with a range of over 2500 km, which puts most of Europe within their range. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 27 April, 2006
Volatility goes hand in hand with any market whether we are in a bear or a bull market. And actually it is this short term volatility that professional investors love as they will enter the market at a low and sell at a high. For the average investor it is wiser to concentrate more on long term developing trends. Leave figuring out the short term price swings to the professionals who sit in front of their computers 24 hours a day studying the markets. What we are concerned is with the “long” term trend. And the longer term trend is for higher gold and higher resource prices in general. Full Story
By: Puru Saxena & The Daily Reckoning Crew - 26 April, 2006
-Headlines: then and now...worrying when things are going too well... -Consumers throw caution into the wind...gold and shotguns... -Looking at the other side of the tax debate..."gas wars"...and more! Full Story
Many people still don’t think the amount of debt the US government has amassed is anything to worry about, most commonly because it is still inconsequential relative to the US economy. As much as the nominal debt may have grown, the growth in the US economy has ensured that servicing and carrying the debt is not a problem. Stated another way, the US debt as a percentage of US GDP (gross domestic product) has not grown out of hand and therefore the nominal amount of debt is nothing to worry about. Full Story
The economy has been dependent on savings from foreign investors, including Asian central banks, for its growth. Consumer spending has increased, not by increasing productivity, but by debt. The American consumer is convinced that the bills will not come due, that he can tap into his home’s equity at low rates at any time. Save? Why? Full Story
By: Richard Daughty, The MOGAMBO GURU - 26 April, 2006
I am really, really getting scared here. This week, I don't know what scares me most; the Federal Reserve increasing Total Fed Credit (which is the legendary "money from thin air" that banks use to make credit, which gets borrowed, which turns it into money, which increases the money supply, which makes prices go up) by another $5.9 billion, or that the National Debt has suddenly, inexplicably, declined by a lot. Weird! In fact, the National Debt has literally collapsed $58 billion in less than two weeks! Unprecedented! Full Story
It has been almost eight months since I’ve been able to write about a dealer short-covering clean out in silver. It seemed like it took forever. No matter how long it has taken, the good news to the blasting to the downside we have just witnessed is that the dealers (including Mr. Big) have used the sell-off as an opportunity to buy back a large number of their shorts. Actually, it’s a little more involved than that; the dealers created the sell-off by collusively pulling their bids on the decline. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 26 April, 2006
Recent price spikes and increased volatility in gold and silver markets have many observers predicting a dramatic popping to what they claim to be a precious metals bubble. However, after having sold physical precious metals to the public for the past five years, I can attest that none of the characteristic signs that have typified bubbles in the past are visible in today’s market. Full Story
By: Axel Merk, Merk Hard Currency Fund - 26 April, 2006
The US consumer has been the primary recipient of cheap Asian imports. US policy makers have fostered consumption through monetary and fiscal policies, i.e. through low interest rates and low taxes. US policies have accelerated Asia's growth; while the intent of US policies has been to foster US growth, there have been serious unintended consequences. Notably, the stimulating environment - also fostered by much of Asia subsidizing their exports through pegged, low exchange rates - has caused a shortage of commodities worldwide, high commodity prices, and low consumer goods prices. Full Story
I ended yesterday’s commentary with a trick question: What is the easiest way to make real returns of nearly 10 percent on one’s money? The answer is, there is no easy way – unless, of course, you’re in the mortgage lending business, where deflation-adjusted returns approaching 10 percent may soon be possible. How so? Well, if you live in Colorado, the answer may be a little more obvious, since mortgage foreclosures in the Rocky Mountain State are now the highest in the nation. It was recently reported that one out of every 338 Colorado homes was in foreclosure in March, versus one out of 1,138 nationwide. Full Story
By: Chris Mayer & The Daily Reckoning Crew - 25 April, 2006
-Life on the ranch...an oasis in the middle of a valley...more to money than just making it... -Riding off into the sunset...what, us worry? Not with these rose-colored shades on... -Consumer confidence at highest level in four years...the dollar's title as world's reserve currency is being challenged...and more! Full Story
Now, don’t get me wrong. I am as bearish as any pundit out there, Jas Jain included, and if the Dow Industrials were to fall 4000 points next week I would regard it as nothing more or less than an outbreak of sanity. But mortgage the ranch to speculate on such an outcome? “No way!” That’s exactly what I told a loyal subscriber yesterday after receiving a Hindenburg bulletin from him in my e-mail. “From what I read,” he wrote, “the market is set to come down HARD. Any great puts to buy?” Full Story
By: The Mogambo Guru, The Daily Reckoning - 24 April, 2006
-Living the high life - literally...not exactly the vacation the Bonner crew was expecting... -Wuthering Heights meets Death Valley...an analytic approach to arts - and a poetic spirit for investments... -A failed intervention...Addison attempts to shape the minds of law students...and more! Full Story
By: Bob Chapman, The International Forecaster - 23 April, 2006
Today’s monetary experts, such as Bernanke and Eichangreen, on the Great Depression, have a curious disregard for the fundamental role played by credit and speculation in fostering the fearful bubble this despite centuries of financial history illuminating their central responsibility. Yes, the Fed refused to inflate the money supply in the early 1930s and the gold standard was constricting, but the Fed knew full well what they were doing. Increases in tariffs came later and were too low to make a big difference. The real problem was interest only real estate loans and 90% margin in stocks. The Fed caused the depression just as they are in process of doing so again. Full Story
By now we're all experts at buying our gold and silver coins. Some of us will live in dread that we paid too much. Most of us will live to see the day that we didn't buy enough! That will be your greater reluctance. That's wonderful, but how will go about shopping for the best buyer when you go to sell - or swap the Ratio? What do you do run a six-day auction on eBay, wait for payment, and hope gold doesn't get an updraft on you while you await the proceeds from your silver sale? What if you're outbid? Full Story
By: John Mauldin, Millenium Wave Advisors - 23 April, 2006
Today we again turn to our exploration of the implications of complexity theory and the critical state and their applications to the market. Can we find some explanation for the seeming decrease in market volatility and an increased appetite for risk and leverage? The more I meditate on this, the more implications and explanations for market behavior seem to come to mind. What I hope to do is give you a way to understand the markets apart from the usual easy bromides. Full Story
The catalyst which WILL cause Financial Markets to CRASH (and Gold to Soar) will be EXOGENOUS to the markets. It will cause an Upward re-rating of Inflation expectations in the Publics eye. And that my fellow readers will be courtesy of our Commander-In-Chief, Iran, Al Qaeda or every other Terrorist organization that will help expand the War in the Middle East later this year. Full Story
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