One week ago, my forecast did not come to pass for a euro currency selloff, and for a pound sterling selloff. Even the Aussie Dollar forecast of a selloff failed. In fact, in a convincing fashion, all three forecasts were shattered. What happened? Wrong read of the price pattern with indicators? Not really. Wrong assessment of high priority signals? Surely, yes. By that is meant, during a strong GOLD TREND, and WEAK USDOLLAR TREND, cyclical indicators tend to carry less importance in predictive power. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 29 February, 2008
Having neither the will nor the means to confront our major economic challenges, Washington is instead hanging its hopes on words alone. This week, despite the clearest signs yet that the dollar is in critical condition, President Bush and Treasury Secretary Paulson tried to provide reassurance by once again invoking the name of the mythical “strong dollar policy”. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 29 February, 2008
-This is gonna get ugly…the United States is entering a recession - and is probably already in one now… -Is the United States going the way of Japan?…does anyone really understand CDOs? -Gold hits another record high…is it possible that Bernanke will wake up as Volcker?…and more questions, thoughts and insights to take you into the weekend! Full Story
We consider how the exponentially increasing proliferation of OTC (over-the-counter) derivatives is dramatically increasing Systemic Risk and what steps can be taken to protect and potentially profit from this proliferation. Full Story
What has happened since last August is a very typical thing to the banking industry from time to time. It happens about 5 years apart on average, even though each time the headline is totally different. In 1987 it was program trading, in1991 it was S&L, 1998 belonged to LTCM and the Asian crisis, and in 2001 the buzzword was internet. This time it is all around the most important 6-letter word "credit". Full Story
By: Scott Wright, Zeal Intelligence LLC - 29 February, 2008
The precious metals are in the midst of fantastic secular bull markets. And one of the most precious of metals, platinum, has been getting a lot of attention in recent weeks. With geopolitical strife accentuating platinum’s current supply shortfalls, speculators have grabbed hold of this metal and launched its price into a parabolic ascent. Full Story
By: Michael Kilbach, Investment Score Inc. - 29 February, 2008
Currently we are extremely bullish on silver and gold as we have been for many years, but we are not planning on adding to new bullion positions at this time. Why? We think many investors misinterpret a general statement of “being bullish” for meaning that prices will continue higher from the exact moment of receiving the comment until the ultimate expected high. Full Story
By: Richard Daughty, The MOGAMBO GURU - 29 February, 2008
And the borrowers just saw a chance to benefit by the bank's stupidity, and they borrowed the money on the 'heads I win, tails I break even' chance that they could later sell at a profit or walk away. Full Story
By: Rick Ackerman, Rick's Picks - 29 February, 2008
In testimony before Congress this week, Helicopter Ben finally acknowledged publicly what most of us have assumed all along – that the Fed will continue to ease no matter what. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 28 February, 2008
-The dollar falls to its lowest level ever against the euro…the Fed is caught in the crossfire… -Inflation could be worse than anyone thinks…a golden "Noah's Ark"… -Preventing Mr. Market from what he does naturally…William F. Buckley dies…and more! Full Story
A manipulated market is a market that is rife with arbitrage opportunities. In this article we will examine a federally sponsored market manipulation that is currently happening on a massive scale. The Federal Reserve has forced short-term borrowing and investment rates down to levels well below the rapidly rising rate of inflation. Full Story
By: Jason Hommel, Silver Stock Report - 28 February, 2008
According to Forbes, there are only about 900 billionaires. However, there are also hundreds, if not thousands, of funds with many billions of dollars under management. There are also many companies with many billions of dollars in "cash"; and they might not know what to do with it. This article is for all the billionaires in the world. Full Story
By: Dr. Ron Paul, U.S. Congressman - 28 February, 2008
Price controls are almost universally reviled by economists. The negative economic consequences of price floors or price ceilings are numerous and well-documented. Our current series of hearings have been called to discuss the most important, but least understood, price manipulation in the world today: the manipulation of the interest rate. Full Story
By: Chris Gilpin, Senior Editor, Casey Energy Division - 28 February, 2008
Not since the energy crisis of the late 1970s has so much of American GDP been devoted to buying oil from abroad. That’s why markets jump every time Chavez opens his mouth. Even a slight reduction in the sources of supply available to the U.S. could cause a major spike in crude prices. Full Story
By: Bob Chapman, The International Forecaster - 28 February, 2008
The financial and monetary problems are so dire that a cloak has been thrown over everything. The only news that comes out is what has to be released by corporations. The rest will get via leaks. It is incredible the secrecy and the lying. Today that is the hallmark of Washington and Wall Street. They do not want you to know that crisis of credit has permeated not only the US financial markets, but also all world markets. Contagion is rampant. Full Story
Each time Mr. Bernanke makes a statement about doing whatever he feels has to be done to put the economy back on track, the Dollar seems to fall. The reason for this is that the Fed really has but one weapon, the lowering of short term interest rates. Full Story
Gold and silver are in long-term bull markets. Nimble traders with a lot of time to analyze the markets, may be able to take partial profits from time to time, but the majority of investors, should head the advice of legendary investor Jesse L. Livermore who said: “It was never my trading that made the big money, it was always the waiting”. Full Story
By: Richard Daughty, The MOGAMBO GURU - 28 February, 2008
But if TFC was plotted out on this mysterious logarithmic paper, the line on the graph would be sloping down, even though the line on the familiar linear graph of TFC would still be going up! Full Story
By: Rick Ackerman, Rick's Picks - 28 February, 2008
Can you see the sky from where you are sitting right now? If not, go outside and look directly above you. Are there any $100 bills wafting your way? We didn’t think so. So much for the theory that “Helicopter Ben” would shower America with printing press money if something ever went seriously wrong with the economy. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 27 February, 2008
-The news is good and bad - depending on how you look at it…we still have no idea how the party will end… -$2,000 gold likely in the future…apparently, there are some cities in the U.S. that are still a good buy… -Shops in New York are beginning to accept euros…cultivating American's delusion of danger…and more! Full Story
By: John Rubino & Shayne McGuire - 27 February, 2008
My new friend Shayne McGuire is director of global research at Texas’ $115 billion Teacher Retirement System, which means he oversees a vast portfolio of high-grade bonds, Blue Chip stocks, and cash. Not the kind of environment that’s usually hospitable to atavistic assets like gold. Yet he recently published a book—a very good book—titled “Buy Gold Now”, in which he explains his belief that the dollar, U.S. bonds and many stocks are headed south, while gold is going to the moon. Full Story
By: Axel Merk, Merk Hard Currency Fund - 27 February, 2008
A consortium of banks is considering injecting $3 billion dollars into Ambac, the mono-line insurer that relies on its AAA rating to insure, amongst others, municipal bonds and CDOs (collateralized debt obligations). What appears as a rescue plan and may appease the markets short-term, may plant the seeds for disaster. Full Story
The implications are clear, that those anticipating that the US is already in a recession may find themselves scratching their heads all the way into the November election, as the already manipulated economic statistics increasingly paint a more favorable economic picture as the Fed continues to drive interest rates lower and flood the financial markets with as much liquidity as the banks require to stay afloat. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 27 February, 2008
Think long term, always longer term. The price of gold in the short term will move in extremes in every direction but gold will be overall strong for the rest of this decade and beyond. It’s not too late to invest in gold related equities to take advantage of their wealth generating attributes. Full Story
This wonderful rally in Gold, largely driven by money chasing momentum, is generating a great deal of bravado. Coming sale of a significant amount of Gold by the IMF is scoffed at. Why all of a sudden did the G-7 agree to it? Is more to come? Full Story
By: Richard Daughty, The MOGAMBO GURU - 27 February, 2008
'Only' 15.6% inflation in prices! It's like your stupid children getting arrested, and they brag all the way home about how they haven't ever been charged with a felony, only misdemeanors, while their friends have all done hard time! Full Story
By: Rick Ackerman, Rick's Picks - 27 February, 2008
The Dow has tacked on 400 points since Friday, but could there be even more silliness ahead? The chart below, posted to the chat room yesterday morning, says yes, quite possibly – as much as 500 points over the next couple of weeks. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 26 February, 2008
-Democracy responds to the mob of voters…the housing slump is working its way into family budgets… -All three of Americans major assets could continue going down for years to come…ignore the housing bulls… -David Walker resigns - but is far from giving up on the battle against unsound spending policies…and more! Full Story
This is a very unique situation, that so much silver has been pre-sold by those who don’t have it, from the big COMEX shorts to all those entities that have issued unbacked certificates and pool accounts. Yes, there is a very large combined short position in gold, but nowhere near the levels in silver, where more silver is pre-sold than real metal that exists in the world. This will invariably drive prices to unbelievable heights. Full Story
By: Gary Dorsch, Editor, Global Money Trends - 26 February, 2008
“Too much money, chasing too few commodities,” might be the best way to explain the historic rally that is underway in the global commodities markets. Central bankers in eighteen of the top-20 economies in the world have been expanding their money supplies at double digit rates for the past several years, trying to prevent their currencies from rising too quickly against the sickly US dollar. Full Story
By: Steven Saville, Speculative Investor - 26 February, 2008
The current situation is similar to the final quarter of 2000 in that most gold stocks have become very under-valued relative to gold bullion and, as discussed in the latest Weekly Update, there is a potential catalyst for change in the form of a major upward trend reversal in the US yield-spread. Full Story
By: Richard Daughty, The MOGAMBO GURU - 26 February, 2008
And for a little perspective, that $3.594 trillion in additional debt means that, at even 5% interest, the government is now paying out $180 billion a year, just in the additional interest payments on just this additional debt… Full Story
By: Rick Ackerman, Rick's Picks - 26 February, 2008
Traders have a saying -- that “opportunity moves to size” -- and we may get to see it play out as a dramatic showdown in the gold market if the IMF receives a go-ahead from the U.S. to sell 400 tonnes of bullion from its inventory. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 25 February, 2008
-Food prices have taken off in Europe…the cost of energy works its way into everything… -The dark side of the oil boom…looking at market psychology across the globe… -In the dispute between gold and the dollar - there's no contest…a matter of aesthetics…and more! Full Story
While it’s nice to see things going along so swimmingly for our favorite form of money, even I am a little breathless after gold’s surge to yet another record this week. And its kissing cousin, silver, has been no slouch either. But I am not surprised, given that the precious metals are doing what they are supposed to do. Full Story
My article entitled “Into The Abyss” (published 5 January 2008) described the crisis in the financial markets as “The Mother of All Crises” or “A Perfect Storm” crisis. Subsequent events have closely followed the forecast in that article. Full Story
Toxic credit crunch contagion continues to spread, silently kicking the stuffing out of the economy faster than people think. Whether you want to talk about credit cards, corporations, or commercial real estate – the credit crunch is spreading, and beginning to look nastier all the time. You should know that when banks begin to fail in the States, and they will, things could spiral out of control to the extent controls will to need be placed on both digital and physical movement. Full Story
By: Peter George, Investment Indicators - 25 February, 2008
In this article – No. 81 – the writer seeks to roll out a credible version of what could happen – to Zuma, the ANC, and the country. It seeks to cover political and economic changes, both in the immediate future and longer term. Full Story
By: Bob Chapman, The International Forecaster - 25 February, 2008
The Big, Bad Cartel Wolf has had its fangs removed and will now try to "gum" gold to death, or try to huff and puff and blow against one of the heaviest and densest elements on the periodic chart. To this pitiful attempt to stop gold we reply simply: "Good Luck." We are reminded of a scene from "Monty Python and the Holy Grail" where King Arthur meets the Black Knight. Full Story
By: John Rubino & Marcel Arsenault - 25 February, 2008
Most commercial lenders and property owners don’t agree, but commercial real estate is likely headed for a worse downturn than housing. After all, a subprime borrower living a house will typically do whatever she can to keep the house. The scoundrels I know in commercial real estate will send the keys back in a heartbeat. So once the downturn starts, commercial real estate will be “marked to market” brutally and efficiently. The only winner in will be the foreclosure and bankruptcy attorneys. Full Story
As for the charts and indicators, the week has seen both the intermediate and long term moving averages for both Indices turn upward as the Indices closed above the lines. Both momentum indicators for both Indices also moved upwards into their positive zones. Therefore, the ratings for both time periods, for both Indices can only be rated as BULLISH. Full Story
Gold’s out performance compared to the Dow is a sad commentary on the economy. Our major companies are in shambles, and our currency is losing purchasing power daily, not a good situation. Full Story
1st Hour: Headline news & market forecast. Spotlight Picks with big dividends. The International Forecaster and Chris Waltzek answer listener questions. 2nd Hour: Kevin Kerr, Outstanding Investments Full Story
There is a lot of fear circulating around the Internet concerning gold/silver and the gold/silver stocks. As contrarians, that’s exactly what we like to see. It lets us know the prevailing trend (up) is still intact and that higher prices are likely to be seen before the next interim top is in. Full Story
By: Sol Palha, Tactical Investor - 24 February, 2008
The price differential between Palladium and Platinum has now reached historic proportions; if one goes back all the way to 1977 the price differential between the two metals was never more than 550. Today the price differential is over 1300 dollars; Palladium is trading at roughly 420 and Platinum is trading at roughly 1800 dollars. Full Story
By: John Mauldin, Millenium Wave Advisors - 24 February, 2008
This week the Fed offered us their forecasts for 2008-10 for the economy, inflation and employment. We will look at some of the details which I think will be of interest. Then we glance at some data on the savings rate which suggests consumer spending may be in for more of a challenge than many think. There is a lot of ground to cover. Full Story
The bullish stance of American investors is being hit hard by a falling stock market and falling real estate prices. The hope of most investors who are long – and most are long – is that the FED will intervene on the side of the bulls. In fact, the FED has been intervening on the side of the bears. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster – Global Watch - 24 February, 2008
Gold and silver prices are at their peak and look as though they are going to go higher still. Both gold and silver prices have been rising steadily over the years despite there being both a surplus and, in the case of silver, government selling of stockpiles. This tells us that the potential as well as the past surpluses are far lower and far more difficult to access than one thinks. Why? Full Story
When the mainstream press wasn't discrediting Ron Paul with conspiracy theorizing, they were calling his monetary policy "esoteric". And to the present generation, it is esoteric. Young professionals and pundits have lived their entire lives under a system of floating fiat currencies. The gold standard might as well be a barbarous relic since it is barely understood. Full Story
By: Richard Daughty, The MOGAMBO GURU - 24 February, 2008
And if you wonder exactly what I mean by 'doomed', I will demonstrate by telling you that the video I am offering you is priced $499.99 today, but it will be $699.99 next year. You figure it out. Full Story
By: Rick Ackerman, Rick's Picks - 24 February, 2008
The most violent short-squeeze we’ve witnessed in more than a week transformed a despairing stock market on Friday into the proverbial lipsticked pig, but don’t expect the little oinker to fly much higher when stocks start to trade again on Monday. Full Story
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