By: Peter Schiff, Euro Pacific Capital, Inc. - 29 January, 2010
In this week's much anticipated State of the Union address, President Obama again demonstrated his poor understanding of the fundamental problems that confront our nation. By following the advice of the same people who helped guide our economy to the precipice of total collapse, Obama now threatens to push it over the edge. Full Story
By: The Gold Report and Victor Goncalves - 29 January, 2010
Equities and Economics Report writer Victor Gonçalves, in this exclusive interview with The Gold Report, says the yellow metal will generally see more strength than weakness this year, hovering around $1,500. He's enthusiastic about some undervalued juniors and the prospects for rare earths, saying "a lot of projects are looking very economic and attractive." Full Story
By: Bill Bonner, The Daily Reckoning - 29 January, 2010
Science and technology have produced many wondrous breakthroughs. But there are some things it cannot improve. A kiss from natural lips is still the lover’s choice. Baby formula proved no match for the real thing. Ersatz money is a flop too. That last item is not so much a fact as a prediction. Full Story
The Federal Reserve reported a $45 billion profit for 2009, making it the most profitable financial institution in the nation. Many news outlets put a positive spin on this report, saying it was great news for the economy and the financial sector. Are they right about that? Or could the full story of what happened represent a direct threat to the value of your savings and your retirement investments? Let’s take a short look at the story behind the headlines, and the personal implications for you and your family. Full Story
By: Scott Wright, Zeal Intelligence LLC - 29 January, 2010
Ever since its secular bull kicked off in 2003, the once-boring base-metals sector took on an aura of excitement. What trader wasn’t excited when copper, zinc, nickel, lead, and aluminum put together respective gains of 475%, 523%, 650%, 829%, and 163% from their 2003 lows to their interim bull-market highs? Full Story
What these statistics mean is that it is absolutely impossible for the government to fund its debt and deficits, even if it steals all of the nation’s private wealth. Therefore, the government’s only solutions are either formal bankruptcy (outright debt repudiation and the dismantling of bankrupt government programs) or unprecedented American monetary inflation and debt monetization. Full Story
The news spotlight recently was stolen by Google, the Internet search engine giant. A statement issued by Google a couple of weeks ago was greeted by dismay on Wall Street as shares retreated in response to the company’s announcement that it no longer supports China’s censoring of searches that take place on the Google platform. China has defended its extensive censorship after Google threatened to withdraw from the country. Full Story
The financial markets have millions of people competing for profitable trades but unfortunately their natural instinct gets in the way of the final goal. Through evolution these investors are programmed to proceed (buy stocks) when they are feeling confident and run (sell) when they are scared. The result of this “basic instinct” mentality is the classic, buy high and sell low, losing trade. Full Story
Given the moves by rival hedge fund managers like John Paulson into the yellow metal, it would be surprising if that living trading legend George Soros is not buying gold at the moment. Full Story
All this talk of unemployment is preposterous. Think of it. We live in a world with lots of imperfections, things that need to be done. It has always been so and always will be so. That means that there is work to be done, and therefore always jobs. The problem of unemployment is a problem of disconnect between those who would work and those who would hire. Full Story
By: Michael "Woody" O’Brien ChFC - 29 January, 2010
In the interest of full disclosure, I must confess that I’m not a fan of home ownership. If fact, if not for the need to keep a wife happy, I would be a near life-long renter. Why? The math that your home is a great investment requires a substantial amount of accounting fraud to justify. Full Story
By: John Browne, Senior Market Strategist, Euro Pacific Capital - 29 January, 2010
As a former army parachutist with a bad head for heights, I recall standing in the doorway of an aircraft while my jumping instructor shouted: "Don't look down!" He understood that my unease with parachuting combined with the sight of thousands of feet of open air could be enough to elicit panic. Many investors in today's American stock and bond markets appear to be getting the same advice. While in my predicament, I had a parachute and a rudimentary understanding of how to use it, I fear that American investors have nothing to break their fall. Full Story
The alternative media (mainly on the Internet) was ablaze this past week on a US Supreme Court decision which effectively said that corporations (to include corporate unions) are the same as individual persons in terms of the first amendment on free speech and political activity. Even some hard line gold analysts took note of this decision and supported the populist position that corporations are not individual people and are not entitled to free speech protection under the first amendment to the Constitution. Full Story
By: Ira Epstein, The Linn Group - 28 January, 2010
For the time being, rallies in gold look to be a short sale opportunity unless and until April Gold takes out $1105. Resistance is at $1101.50 and the Daily Chart at this time looks oversold. Keep in mind that oversold conditions can turn into embedded situations that embolden downtrends. Full Story
By: Sol Palha, Tactical Investor - 28 January, 2010
While we remained bullish on the precious metal's sector when it took a beating towards the end of 2008 to early 2009, instead of pushing Gold or silver our main focus was on Palladium. The reason, it was the single most ignored precious metal out there. Full Story
The Great Credit Contraction grinds on as the system continues evaporating. People are realizing the true nature of the worldwide fiat currency and fractional reserve banking system that is built on a fraudulent premise and has become a Ponzi scam of epic proportions, the largest in the history of the world. Full Story
Watching each tick lower is frustrating when you pay too much attention to the daily tape (the author is guilty as charged). To give fellow Gold and Gold stock bulls a little taste of what may be coming, let's take a walk down memory lane to an earlier stage in the current secular Gold stock bull market. Full Story
Dear Readers, I wish you could have heard Doug when we spoke about Haiti. His words may seem cold-hearted – discussing adoption in terms of misallocated capital! – but he was passionate indeed in this conversation. When he spoke of the Haitians having nothing, not even shovels and crowbars to dig their loved ones out of the rubble, his feelings about the men who’ve made Haiti the place it is were very clear. Full Story
Even Bernanke’s desire to be reconfirmed for another four years testifies to the persistence of his failed Keynesian dogma and his cluelessness about his hand in the creation of the coming currency crisis. As the Fed persists in its folly and one Fed bubble begets another, the motion picture Groundhog Day comes to mind. Full Story
It is often said that there is nothing new under the sun. Truly, economic events of late have demonstrated this in spades. There is little that is new, just different flavors of the same. So, in the absence of anything substantially new to add to the collection of events this week, I am going to take an opportunity to return to some of the analytical topics that I’ve had but a few precious chances to deal with over the past three and a half years. Full Story
There has been a good deal of chatter on the precious metal websites about when might be the best time to buy gold and silver equities, and ArabianMoney has also been giving this some thought. So what scenario for precious metal stocks would be consistent with our general market view? Full Story
Summing up, signals coming from the precious metals stocks suggest that the bottom is in or is very close. However, given the current level of globalization in the economy and financial markets, one must keep in mind that no market moves alone - they are connected in this or the other way. Full Story
By: Rick Ackerman and Chuck Cohen - 28 January, 2010
While Rick’s Picks has focused with coldly mechanical detachment on the technical picture in gold and silver, we rely on our friend Chuck Cohen, a New York-based gold consultant, to stir readers’ imaginations when they think about how high gold shares and bullion could eventually go. We asked Chuck for his current thoughts, and he kindly obliged, even though he was ensconced in a hammock in Puerto Vallarta, sipping a margarita, when we called. Full Story
By: Marin Katusa, Senior Energy Strategist, Casey’s Energy Report - 27 January, 2010
The biggest economic shift of our time is under way. Cheap and easy oil is gone for good. And given our addiction to low-cost oil, the results are about to put the squeeze on your pocket book. Full Story
This time IS different for gold. Different from how everyone sees it, that is... STOCK-MARKET BULLS are so dumb, apparently they need Bob Prechter to tell them to sell. Full Story
By: Bob Chapman, The International Forecaster - 27 January, 2010
Paul Volcker is back and things are about to change in Washington. A split has occurred between the paper forces of Goldman Sachs and JP Morgan Chase. Mr. Volcker represents Morgan interests. Both sides are Illuminists, but the Morgan side is tired of Goldman’s greed and arrogance. Volcker cannot be called old school or anachronistic. He represents sanity in an insane financial world even though he is an integral and powerful part of the elitist structure. He represents a change in gears and approach. Full Story
We keened a lot of knowledge at Cambridge House's curtain-raiser in Vancouver last weekend. This annual mid-January two-day conference of mining- and precious metals-savvy investors takes the rectal thermometer of the metals mining biz for the next year to come, and by all of this January's measures, the mercury is busting out of the tube. Full Story
Let’s not get hung up on doing the stock market today. Friday was Op/Ex, the market took a bit of a tumble and the construct generally remains as it has been; high risk and extended. Technicals remain the same. Full Denial ’10 chugs on until it doesn’t. Full Story
Officials at the Federal Reserve System insist that the FED will unwind its more than doubled monetary base. They do not say when. They do not say how. But they insist that they will do this when the economy recovers. Full Story
Standard & Poor’s is threatening to cut Japan’s credit rating, which doesn’t sound like that big a deal in a world where no one’s credit is quite what it used to be. But Japan is a special case. It’s been borrowing like crazy at rates two or so percentage points below what the U.S. pays on 30-year Treasuries. And it intends to further ramp up its borrowing to keep the economy from falling back into deflation. Full Story
When it comes to precious metals investing, there is no entity as important as the Federal Reserve. The Federal Reserve, which sets monetary policy and has a direct impact on the purchasing power of the greenback, has virtually complete control over inflation, deflation and the price of your metals. In the coming weeks, Ben Bernanke, the current Fed chairman, will be up for reappointment by the Senate of the United States. Full Story
By: Rick Ackerman, Rick's Picks - 27 January, 2010
Yesterday’s failed rally demonstrated once again that short-covering remains the only force capable of pushing stocks higher on a given day. It also showed that there are no longer enough nervous bears around to drive the market into a sustainable uptrend. In this latest show of false strength, the Dow Industrials achieved maximum loft about midway into Tuesday’s session, when they were up about 100 points. Full Story
By: Sol Palha, Tactical Investor - 26 January, 2010
There are so many facts that clearly validate that Gold should continue to rise and the dollar should sink into the dust. However, the worst news for now has been priced into the dollar and when too many people start to take an extreme view, a turnaround is usually close at hand. Full Story
The great monetary scientist Isaac Newton, who served as England’s Master of the Mint for 24 years, also did some ancillary work in physics. The laws of Newtonian physics are known by nearly everyone and are often used by analogy to apply logical reasoning in other fields. In this case, a few of these laws are particularly applicable in discussing the impending state of the economy in 2010 based on the massive momentum of 2009. Full Story
In spite of philosophical differences in many areas of politics and economics, Ron Paul and Simon Johnson agree that the cosiness that exists between the U. S. Congress and the financial elite has not worked, and is not working, in the best interest of the average American. Full Story
Doubt that growth of the new creditor economies is the real driver for the metals market is waning ever more rapidly. Not everyone will view that as a good thing, but most will now look to China for the moment and to the other big areas of expansion in due course for cues on which direction the sector will take. That, and recognition of very real supply constraints, has been the HRA stance for most of this century. So it’s time for us to do the worrying. Full Story
As a self-professed gold bug, why would I possibly want my favorite investment to fall in value? Have the long hours finally caught up with me? Au contraire; my near-constant devotion to all things gold has only served to crystallize one of the things I really want out of this. Here’s a hint. Full Story
As the gold market continues its lustrous trend, the corporate elbowing and shoving to get at the richest buried treasures is getting increasingly cutthroat. A prime example involves northern Chile’s clutch of mostly prolifically sized gold/copper deposits. Located in the Maricunga Gold Belt, five deposits are in various advanced stages of development while a trio of mines is already making money. All of them represent rich veins of opportunity for supply-hungry gold and copper producers. Full Story
By: Dr. Ron Paul, U.S. Congressman - 25 January, 2010
Much has been made recently about the supposed economic recovery. A few blips in a few statistics and many believe our troubles are all over. Of course, they have to redefine recovery as “jobless” to account for the lack of improvement on Main Street. But the banks have money, Wall Street is chugging along, and the administration would like to get on with other agendae. Full Story
That’s quite the title, no? But without making it even longer, because it covers a vast and complicated subject, it encapsulates what I think will be the most important event that could become apparent to the masses this coming year, which means process would accelerate to a more recognizable end. Let me explain what I mean now that all this confusing stuff is up in the air and in need of some grounding; like our currencies. Full Story
Two things are certain about moving money overseas: First, it’s necessary if you want to shield at least some of your savings from the capital controls, wealth taxes and confiscations that will (not might) be imposed by over-indebted governments in coming years. Second, there’s a whole ecosystem of predators waiting to exploit the first-time offshore investor’s inexperience. So knowing the risks and how to avoid them is crucial. Full Story
The biggest emerging economies have ambitious plans that require a greater share of the world’s limited commodities. This trend is spurring profound and permanent disruptions in how these resources are allocated now and in the future. For investors, these disruptions present opportunities. Full Story
If you are tired of the Wall Street bankster bailout program at taxpayers expense but feel helpless to do anything about it then keep reading. If record profits for the big six banks (and big bonuses for the executives there) that took your tax dollars makes you wonder exactly who is in charge then read on. If you get upset about the Goldman Sachs executive retirement plan (become US Treasury Sec and cash out lifetime personal portfolio tax free AND help out your old pals on Wall Street) for Wall Street banksters then get ready to fight back. Full Story
KISS is an acronym for the popular expression, keep it simple, stupid. I don’t particularly like the idea of calling others stupid. I have found that people who do so usually have an inability to express themselves, and this is because they themselves are stupid. Most people I have met in this world can do at least something better than I can, and I can benefit from their expertise. Full Story
By: Rick Ackerman, Rick's Picks - 25 January, 2010
Wall Street seems to have caught more than just a whiff of the Great Recession last week. More like the scent of a corpse, notwithstanding the full court press by Government and news media to convince us there’s a recovery going on. The insane energy that had been pushing stocks higher since last March now seems to be failing. Full Story
1st Hour: Headline news & the Market Weatherman Report. Spotlight Stock Picks. Host Chris Waltzek & The International Forecaster discussion and listener's questions. 2nd Hour: -Dennis Gartman, The Gartman Letter -Gary Dorsch, Global Money Trends Full Story
By: Bob Chapman, The International Forecaster - 24 January, 2010
Few professionals are yet willing to admit we have been in a depression for the last year. You have to understand the position that economists and analysts are in. They work for corporations, insurance, Wall Street, banking and government and if they thought we were in a depression and they publicly announced that all chances for advancement would be lost or they would be squeezed out of the firm or simply fired. Full Story
On Friday Goldman Sachs and J P Morgan broke down decisively from their Head-and-Shoulders tops, a development that we predicted before the open based in large part on the huge downside volume in these stocks on Thursday. The Put options that we bought in the early trade in GS and JPM soared, some contracts rising by about 50% by the close. This bearish development caused shockwaves to spread through the market which accelerated to the downside late in the day. After 2 days of heavy losses the Precious Metals stocks indices stopped for a breather just above their 200-day moving averages, and closed virtually unchanged on the day. Full Story
By: John Mauldin, Millennium Wave Advisors - 24 January, 2010
Over the next several months, we are going to start to explore various aspects of the end game. Whither Japan? Are they actually, as I think, a bug in search of a windshield? What does that mean for the world? How safe is the euro? Everyone over here seems to think Germany will bail out Greece. A breakup seems unthinkable to the people I've been talking to (so far). But what about Spain? Italy? Can you spell moral hazard? Full Story
Two Bank of England economists have written one of the most perceptive and forthright papers in the history of central banking: "Banking on the State." Compared with any of the dozens of deadly dull, equation-filled, narrowly focused, recommendation-avoiding, career-enhancing, résumé-padding, utterly useless academic exercises published in the dozen regional Federal Reserve bank journals every month, this paper stands out like a diamond in an immense dung hill. Full Story
In their timely look at the panic of 1907, Robert Bruner and Sean Carr focus attention on what they believe to be the underlying causes of the ’07 stock market crash and recession, drawing parallels between it and the credit crisis of more recent times. Their book, “The Panic of 1907: Lessons Learned from the Market’s Perfect Storm,” is now available in soft cover published by John Wiley & Sons (2007). Full Story
If financial markets are about to blow up as ArabianMoney suggests today, and for once we are in the company of much of the global media, then holders of precious metals are placed in an awkward dilemma. Full Story
Looks like we are having another downdraft in the precious metals sector. In light of the carnage that happened last year it seems that over every little correction looms the spectre of a repeat washout. For those of you who are curious what this downturn has done to Goldbug sentiment, I have prepared a survey where people can vote as to where they think gold will be two months from now. I've also compiled a list of "pros" and "cons"... Full Story
The only walking done this week was by Martha Coakley as she exited stage left, embarrassed and shocked. Everyone else ran out of every market and most commodities as the political talk raged on. The overreaction to nothing gives investors in the know a superb opportunity to buy cheaply. Full Story
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