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Weekly Archive
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 September, 2007
We mentioned briefly in the market section at the start of this issue that there has been a change of tides, and possibly a change as fundamental as a change of current. Yes, last week will be seen in history, as an important one for the global economy and gold alongside other precious metals. We write this section because until last week the price range of gold was seen only in the context of May 2006 price ceiling of $730. Full Story |
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 September, 2007
Mr. Mugabe has a long history of destroying the country’s assets. It started with him forcing Zimbabwe banks [such as Grindley’s] holding foreign investments on behalf of Zimbabweans [in nominee names], to hand them over to the government in exchange for 4% government bonds [that was in 1983]. That resulted in the termination of direct private foreign investments to Zimbabwe. Next came the white owned farmland, which confiscations led to Zimbabwe changing from the breadbasket of Africa to a country unable to grow its own food and starvation staring many of them in the face. Full Story |
By: Scott Wright, Zeal Intelligence LLC - 28 September, 2007
With gold once again above $700/oz, there is a renewed interest in gold stocks. Throughout the course of this gold bull it is indeed the gold stocks that have provided investors with excellent leverage to the rising price of gold. These companies that are responsible for bringing the metal to market should be well positioned to greatly profit in a secular gold bull. Full Story |
By: Peter Schiff, Euro Pacific Capital, Inc. - 28 September, 2007
Currently, Wall Street is divided into two camps: those who feel the Fed should fight recession, and those who feel it should fight inflation. The former feel that a recession can only be avoided if the Fed rescues the economy from the imploding housing market. To these analysts, inflation is not a problem as it will be contained by slower growth. The other camp maintains that the housing slowdown is not significant enough to derail the otherwise healthy U.S. economy, and should therefore not distract the Fed from its primary mission of fighting inflation. As usual on Wall Street, both camps have it wrong. Full Story |
By: Antal E. Fekete - 28 September, 2007
Very few people understand the „continental drift” that threatens with a fracture of the U.S. (and hence, the world) monetary system. There are two tectonic plates: one, the supply of Federal Reserve notes (FR notes), and the other, the supply of electronic dollars in the form of an inverted pyramid that rests on the supply of FR deposits. The fault line between the two tectonic plates, like San Andreas fault in California, is a worrisome source of unpredictable earthquakes that could cause massive and permanent damage to the U.S. and world economy. Full Story |
By: Michael Kilbach - 28 September, 2007
When you build a puzzle do you dump out 1000 pieces and randomly try to put together the picture, or do you look for the obvious corners, flat borders, build the frame and then fill in the details? So why do investors try to match a million random pieces of information in an attempt to try to build a clear picture? Full Story |
By: Deepcaster - 28 September, 2007
Tracking not only the Fundamentals and Technicals when forecasting major moves, but also tracking the Interventionals, is essential. One of several Interventional Tools which The Fed uses to intervene in the markets is Repurchase Agreements (“Repos”). Full Story |
By: Clif Droke - 28 September, 2007
A highly infectious virus is spreading like wildfire across the Internet. It has done untold damage to the bank accounts and hard drives of millions. It leaves in its wake a path of destruction and a feeling of utter helplessness. You may, in fact, be one of its victims! Full Story |
By: Richard Daughty, The MOGAMBO GURU - 28 September, 2007
If a billion bonds sold all day at $10 apiece, but the last (1,000,000,001th) bond of the day sold at $11, all the rest of that whole billion bonds are, now, also 'worth' $11! Hahaha! It's all happening at the margin! Full Story |
By: Rick Ackerman, Rick's Picks - 28 September, 2007
Yesterday’s snooze fest was not without historical purpose, since the pause will allow the Dow Industrial Average to set a new record high on a Friday, just as we could have expected. The Indoos settled yesterday at 13913, meaning they will have to rack up only a further 109 points this morning to achieve the milestone. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 27 September, 2007
-A foreigner's shopping paradise…the cheapest house in the entire world…oh those poor builders…
-The problem with current investors…the words of a lunatic…inciting the residential housing bubble…
-Is the dour housing market really a shock?…gorgeous gold is sitting pretty…time to go platinum…and more! Full Story |
By: Adrian Ash - 27 September, 2007
The gold mining industry just admitted that it lacks growth. The world's central bankers, in contrast, are expanding their production each and every day. Full Story |
By: Michael B. Clark - 27 September, 2007
In recent years, a growing number of countries have permitted their citizens to establish personal retirement accounts and allow them to choose the investments they may hold, including precious metals. But should an investor include a precious metals component in his or her long-term investment plan? And if so, how does one decide which precious metal investment product to own for retirement purposes? Full Story |
By: Doug Casey, Editor, International Speculator - 27 September, 2007
Let me cover the big picture. I do think we're approaching the end of the world as we know it…I think there is such thing as the business cycle. It exists. And we've had the longest expansion - and the strongest expansion - in the world history. But we're at the end of a 25-year boom. It's gone on more than a full generation now. And I'll tell you how it's going to end: It's going to end with a depression, and not just a depression; not just another Great Depression; it's going to be the Greater Depression. Full Story |
By: Ira Epstein - 27 September, 2007
When you view the Seasonal Gold and Silver Charts below, it becomes evident that a pullback in October is not uncommon. Given the inflationary scenario I wrote about last week, I think the trading strategy needed is one that employs futures with a very tight stop, with the expectation that it may be it for a small loss. Counter that with an Option Strategy for the longer pull. In other words, I really want to see a price break to get long via options, but will use futures if I can keep my risk very tight. Full Story |
By: Douglas V. Gnazzo - 27 September, 2007
Commodities in general and oil and gold specifically have rallied very strongly of late. They are now overextended and appear susceptible to corrective action over at least the short term time frame. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 27 September, 2007
The Big, Big, Bad, Bad, Big Bad News (BBBBBBN) was that the indicator of inflation and burdens (the Lagging Indicator) had (again!) the biggest rise, rising to 129.4 from 129.0!! Inflation is rising faster than anything! Again! Full Story |
By: Rick Ackerman, Rick's Picks - 27 September, 2007
Another rancid Whoopee Cushion breeze set Wall Street’s pennants aflutter yesterday. And forget about profiting from these stupid little rallies, since they are pretty much over before your data software has drawn more than a bar or two on the three-minute chart. Full Story |
By: Jim Willie CB - 26 September, 2007
The face of all the world has changed, since first I heard the footsteps of your official rate cut. Sorry, borrowed a front line from a Robert Browning love poem, who wrote about ‘footsteps of your soul’ to Elizabeth Barrett. On September 18th, notes were taken on a host of prices immediately before the US Federal Reserve executed its cut of 50 basis points in both the Fed Funds target and the discount rate. The reaction in the entire price structures for the financial markets generally has been profound in only one week. Full Story |
By: Bob Chapman, The International Forecaster - 26 September, 2007
This past week we saw gold trade 12 days over $700, the most momentous gold event since gold began its six-year journey from $252.00 an ounce. Soon phase one of the gold bull market will be completed at $850.00 and ounce. Full Story |
By: Michael Nystrom - 26 September, 2007
Have you noticed? Chairman Ben (not to be confused with that all-powerful chairman from another time and place, Chairman Mao) has recently acquired a new nickname. No longer is he referred to merely as "Printing Press" or "Helicopter" Ben, those playful nicknames of yore which poked fun at his threats to stave off deflation via massive inflation. Full Story |
By: Adrian Ash - 26 September, 2007
Trouble is, maximizing liquidity – the availability of money – is what created this mess in the first place. Failing to understand this plain fact is what led the United Kingdom, the world's fourth largest economy, to suffer its first genuine banking run in more than a century. Here in London, all progress in finance since 1878 just got wiped out. Full Story |
By: David N. Vaughn, Gold Letter, Inc. - 26 September, 2007
Well, gold is settling comfortably above 700 an ounce – what now? If you’re stupid you’ll be selling all your gold shares because you fear gold dropping back to 640. If you have any common sense you will notice this upward move is more than a short term rally. Full Story |
By: radio.goldseek.com - 26 September, 2007
NEW: GSR Preview - Ron Paul, Curtis Faith & Chris Waltzek Full Story |
By: Darryl Robert Schoon - 26 September, 2007
It seems this summer’s credit crunch and the continuing defaults of US subprime mortgages would be enough. Now, however, the US Federal Reserve has decided to play chicken with inflation. But evidently, even this is not too much. Full Story |
By: Justice Litle - 26 September, 2007
Some believe the dollar can’t collapse… that it just wouldn’t be rational. The central bankers of the world are too level-headed to dump their holdings en masse. Question, then--since when are bank runs rational? Would a currency run be so different? Full Story |
By: Ned W. Schmidt, CFA, CEBS - 26 September, 2007
Bailout Ben Bernanke, Chairman of U.S. Federal Reserve, last week demonstrated the intellectual bankruptcy at that institution. No broad based economic need for a 50 basis point interest rate cut was evident. Only purpose of rate cut was to aid investment banks and mortgage brokers. Further, that interest rate cut is now politically impossible to reverse without a crisis in the value of U.S. dollar. Full Story |
By: Gary North - 26 September, 2007
I maintain that a nation's central bank controls the nation's money supply. It does so with two tools: (1) the legal reserve requirement and (2) the purchase (inflationary) or sale (deflationary) of assets in its possession – the monetary base. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 26 September, 2007
And I know that you are just a stupid receptionist, but even you have to realize that each time you do that, the bullet gets bigger and bigger, and pretty soon you are having to chomp down on a bullet as big as a freaking cannon shell! Full Story |
By: Rick Ackerman, Rick's Picks - 26 September, 2007
We read that the Fed has gone all out to stimulate the economy, but the effect will be muted at best if consumers are reluctant to binge on credit once again. Far from binging, though, and with home prices falling across the U.S., we think consumers at this point are frightened at the very idea of going deeper into hock. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 25 September, 2007
-'Shock and awe' just as bad for investments…a slowdown in making the world go 'round…what's a poor working stiff to do?…
-Here's a shovel; keep digging…concerned about gold in the 'de' type of 'flation'…before Bernanke's helicopter takes off…
-Preventing a financial panic…the psychology of a rate cut…existing homes that no longer exist…and more! Full Story |
By: Antal E. Fekete - 25 September, 2007
On Thursday, September 20, 2007, the lease rate of silver suddenly dipped into negative territory. It fell to minus 0.1 percent per annum. I wish Ted Butler would explain the behavior of silver lease rates and the silver basis to his readers. In particular, he should explain negative lease rates, and negative basis or backwardation. It may be more helpful in promoting an understanding of the silver market than analogies about raptors and dinosaurs. Full Story |
By: Theodore Butler - 25 September, 2007
The unprecedented disparity between the respective market structures in COMEX gold and silver continues. The most recent Commitment of Traders Report (COT), for positions held as of Sept. 18, indicated continued severe deterioration in gold, and relatively minor deterioration in silver. Full Story |
By: Axel Merk, Merk Hard Currency Fund - 25 September, 2007
In our assessment, the Federal Reserve’s (Fed’s) interest rate cut was wrong. Forget about the “moral hazard” of whether the cut would plant the seeds for further bubbles. Lowering interest rates is wrong because it will do few any good, but cause many a lot of harm. Full Story |
By: Steven Saville, Speculative Investor - 25 September, 2007
The reason we expected the Fed to cut its targeted interest rate by 0.25%, rather than the 0.50% that it actually decided upon, was the potential for a 0.50% cut to precipitate the events that we have seen over the past four trading days: upside breakouts in key commodities (gold and oil) and a sell-off in the Treasury market. Full Story |
By: Dudley Pierce Baker - 25 September, 2007
In the July issue of Zeal Intelligence, Adam Hamilton focused on alternative methods for investing in the mining shares. His subscribers were presented with more trading tools in building their portfolios in addition to purchasing the common shares. He discussed the long awaited Market Vector Gold Miners ETF (GDX) which launched in May 2006 and additionally, he discussed in depth, options, LEAPS and warrants. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 25 September, 2007
We are also setting records in sheer, slimy corruption, as the limit on that debt (as last set by Congress), was only $8.965 trillion, and is now overspent by Congress (except Ron Paul) and they are all pretending not to notice! What absolute dirtbags! Full Story |
By: Rick Ackerman, Rick's Picks - 25 September, 2007
Talk about investment hubris getting pumped to the max! Listen to what one market veteran, Amanda Sharp, told a reporter from the Wall Street Journal recently: “If we were to get a crash or correction, there would be a nice cleaning out,” she says. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 24 September, 2007
-Looking good if you don't look to hard…"it's our jungle and we'll do what we want with it"…the greatest leap forward ever…
-Starting with a big fortune to make a small one…no position on which 'flation' is scarier…the best a priest can do…
-Who will be hit the hardest by the credit crunch?…"Europe sucks" message delivered on national radio…and more! Full Story |
By: Captain Hook - 24 September, 2007
Apparently we have arrived – arrived at the point where any and all problems encountered must now be papered over – and we’ve gone global in this regard. You might want to listen to Jim Sinclair’s talk on why the derivatives problem will necessarily lead us into hyperinflation. I’m not sure I agree with all his assertions, however the primary message is undeniable, and the market action is backing such claims, so they must be taken seriously. Full Story |
By: Peter Zihlmann - 24 September, 2007
The euro is the official currency of the Eurozone (also known as the Euro Area or the Euro Land), which consists of 13 European states (Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Slovenia, and Spain) and will extend to include Cyprus and Malta from 1 January 2008. Full Story |
By: Greg Silberman CA(SA), CFA - 24 September, 2007
It’s Déjà vu all over again! For nearly 2-years the 370 level on the HUI proved to be tough resistance. But then suddenly, last week, it burst above 370 and swiftly moved to re-challenge 400. Full Story |
By: David Coffin and Eric Coffin - 24 September, 2007
While The US housing indices won’t bottom out for another year or two, the bad debt associated with it should get sorted out more quickly. The economy will function, albeit at a lower level, while this happens but markets will be skittish. Full Story |
By: Sol Palha, Tactical Investor - 24 September, 2007
One major factor that everyone forgets is that Gold is not going up only because of inflation as the US has been debasing its currency for decades and for the most part Gold did nothing. The real reason is the huge demand that is emerging from the Asia and the Middle East due to their strengthening economies; individuals in both these zones place a very high value on gold. Full Story |
By: Merv Burak, CMT - 24 September, 2007
Everybody’s getting all excited because we are hitting new 27 year highs so I thought I’d show you what all the excitement is about. For technicians things are really getting hot. We have all sorts of projections based upon short, intermediate and long term charts, many of these projections you have read in these commentaries. What about the very long term, you might ask. You have heard about the $1600 projection but where does it come from? Full Story |
By: Douglas V. Gnazzo - 24 September, 2007
As everyone knows, the Fed lowered interest rates by ½ % last week, which is not an insignificant amount. By doing this the Fed basically threw the towel in the ring saying it was giving up the fight against inflation, and was more concerned with saving the economy from the fallout of the subprime mortgage debacle; both problems it created. Full Story |
By: radio.goldseek.com - 23 September, 2007
1st Hour:
Headline news & market forecast.
Spotlight Picks with big dividends.
The International Forecaster and Chris Waltzek answer listener questions.
2nd Hour:
Peter Grandich Full Story |
By: Bob Chapman, The International Forecaster - 23 September, 2007
As the dollar falls, consumption will fall and so will the US economy. That means stagnation and inflation, stagflation. As this transpires American’s dominance in all world affairs will wane. As we said long ago, the USDX dollar index will fall to 40 to 55 from its current index number of just over 79. This means higher interest rates, more inflation and a very bad recession if not depression. Full Story |
By: Charleston Voice - 23 September, 2007
As we pointed out to you last week, the Commercials had just then started to go net short. This week they added some more, and are now net short 29,221 contracts. They will be able to add any number without risk as the CFTC looks the other way while the bullion banks underwrite any losses which they may incur. The banks' risk, of course, is underwritten by us. Full Story |
By: John Mauldin, Millenium Wave Advisors - 23 September, 2007
The term "sea change" has come to mean a profound transformation ever since Will Shakespeare used it in The Tempest. I think this week we witnessed a true sea change in central bank policy, on both sides of the Atlantic. Full Story |
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