By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 29 July, 2011
Right now the markets are really starting to wind up over the debt ceiling confrontations. The weekend of U.S. political strife is on the world. It is so easy for the markets and commentators to lead us to believe that the gold and silver prices are rising because of this, but we emphasize that they are not! Full Story
Many deep dilemmas face investors of Gold & Silver. First and foremost we feel an urgent need to defend ourselves against a crippled corrupted USDollar. The level of debilitation cannot be adequately put in words, as it has lost perhaps 70% of its value just since 1980 when the Jackass entered the workforce after years at the university. Full Story
By: The Gold Report and Jay Taylor - 29 July, 2011
All fiat currencies fail, says Jay Taylor, editor of the Gold, Energy & Tech Stocks newsletter. That's why he calls gold and silver the only true currencies. While some junior mining stocks have lagged behind high-flying bullion, Taylor tells The Gold Report in this exclusive interview why they will continue to be the cornerstone of his portfolio. Full Story
Often lost in the shuffle and the talk about gold and silver as the primary precious metals is another metal, which has uses that rival that of silver, is brilliant in appearance and makes a beautiful coin. Its value has quadrupled since 2003 after seeing an all-time high in 2001, and potentially the best aspect yet is that the supply and demand fundamentals have never been better. Full Story
By: Jeff Clark, Casey Research BIG GOLD - 29 July, 2011
I outlined last week the increasingly bullish consensus among analysts about gold stocks. The same pattern exists with gold itself; growing numbers of analysts have either joined the movement or have upped their bullish outlook. Full Story
Tuesday, 3 August 1971 – Treasury secretary John Connally yesterday urged US banks not to follow the Bank of Michigan, the Financial Times reported, after the small bank raised its key lending rate from 6% to 6.5%. Full Story
By: John Browne, Senior Market Strategist at Euro Pacific Capital - 29 July, 2011
Although I believe gold still faces a very rosy future, an agreement in Washington that avoids default and growing concerns of a global economic slowdown could create significant near-term headwinds for gold investors. Full Story
By: Scott Wright, Zeal Intelligence - 29 July, 2011
Nuclear power has been a hot topic of recent. And as a result, the price action of its input commodity has been quite schizophrenic. Investors and speculators are in a state of great wonderment over what to expect from this intriguing mineral that is mined for energy. Full Story
Here are two words that Americans and the rest of the world have not paid much attention to until now: DEBT CEILING. The debt ceiling drama has been keeping Americans on the edge of their seats – and they better hold on tight as those seats could get repossessed on August 2. Full Story
In sum, in the Medium and Long Run, we see the aforementioned Equities Bearish Factors overwhelming the Bullish Ones, which will have Severe Negative Consequences for Equities-in-General and for certain Commodities which are in relatively Elastic Demand. Full Story
For the past three years ArabianMoney has made the long trek from Dubai to Vancouver each July and found it rewarding both in terms of investment insights and meeting many North American investors. It is also a great way to gauge investment sentiment among a very influential group. Full Story
Just like the mess politicians are making with the debt ceiling debate, the stock market continues to trade in a choppy fashion for 2011. Currently we are in the third pullback in the giant trading range that’s been in effect all year. Measured by the S&P 500 the trading range has been only 100 points wide ranging from 1260 to 1360. July is going to be the first month this year where we don’t get a strong window dressing rally to end the month, no doubt aided by our bungling politicians. Full Story
The persistent and mindless bullishness on gold lately has got me nervous. When I get nervous the first thing I do is pull up a multi-year chart and look at the big picture. Full Story
No matter your approach in trying to make sense of the politics at work in the USA and Europe concerning debt, it becomes almost a pointless exercise since the political game landscape changes too fast to get a handle on the impact to gold prices. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 29 July, 2011
Registrations for GATA's Gold Rush 2011 conference at the Savoy Hotel in London, to be held Thursday-Saturday, August 4-6, today reached the hotel's conference capacity, nearly 400 people, and so registrations have been closed. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 29 July, 2011
The history of fiat money has always been one of failure - every fiat currency since the Romans started diluting the silver content of their denarius has ended in devaluation and eventual collapse of both the currency and of that particular economy. Most paper money economies downfall can be linked to the costs of financing out of control military growth and its wars. Full Story
While normally O. J. Simpson, Michael Jackson and Tiger Woods completely dominate US news, the Rothschild Cabal controlled media actually broke its pattern by having some exposure to the so-called US government crisis over the fact that the nation’s approved level of debt will be reached on Aug 2, 2011, per the recent pitch of Cabal cousin Tim Geithner at the US Treasury. Full Story
Bullion and the broad averages went their separate ways yesterday, each reflecting the failure of our elected leaders to break the deadlock over a debt ceiling. Perhaps we can save Wall Street’s speculators some anxiety by reminding them of what the outcome will be – i.e., a political compromise that will leave in place nearly all of the problems that the debate over America’s fiscal policy was supposed to settle. Full Story
By: Chris Wood, Casey Extraordinary Technology - 28 July, 2011
Worldwide, tens of thousands of researchers are working feverishly on a cure for cancer, testing countless new drugs and dozens of novel approaches. Most will end up in the dustbin. But among the most promising of that small group likely to make it to market is monoclonal antibody therapy. Full Story
For the record, I still believe that there will not be a breach of the debt ceiling and no overt default for the US. Things will be worked out in the nick of time, like they always are. However, the media is full of articles wondering about what ‘investors’ might do in response to a US default and/or credit downgrade. What will happen to Treasury prices? Will they go down as investors dump them en masse in response to a credit downgrade forcing interest rates to climb? Full Story
The commitment of traders is released each Friday by the futures market regulator, the CTFC. Whereas there are plenty of concerns with the CTFC’s involvement in the futures market, generally the COT data proves to be a very important tool in understanding market highs and lows. Full Story
Ah, what a day! Even George Soros has decided to throw in the towel, so difficult has it become to find a winner one can stick with and still satisfy the regulators. The $25 billion that Soros had working in the markets returned just 2.5% last year and has lost 6% so far this year. Judging from the numbers, it’s probably safe to say that he’s been underweighted in bullion. Very underweighted. But why? Does he perhaps know something that Rick’s Picks readers do not? Full Story
The June and July months (every year) are periods of low volatility for global financial markets. August sees more new events and is a little bit more volatile than June and July. But the first year of the second decade of this century is keeping every one on their toes. Summer is a period of rest for global financial managers every year. 2011 is just the opposite as every one has been kept on their toes. Full Story
By: The Gold Report and John Williams - 27 July, 2011
ShadowStats Editor John Williams advises legislators to stop fooling around with the country's credit rating. Regardless of the deal reached, he predicts that the Treasury and Fed will continue to print money to meet obligations and add liquidity to the economy. In this exclusive interview with The Gold Report, he explains how that will have the effect of pushing the price of gold and other commodities even higher. Full Story
When one looks at 1-3 year charts one can miss the larger picture and mistakenly come to the conclusion that all is well. This is why it is imperative that one look at both the long term and short term charts. We at TI have our own modified version of the Dow Theory which has proved to incredibly accurate and useful to us over the past 11 years. Our version of the theory places most of the emphasis on the Dow utilities. In essence the utilities must lead the way up or down and not languish. Full Story
Recently a news item was brought to my attention which underscores the long-term significance of gold as an investment. A 500-year-old treasure has been discovered in a Hindu temple with approximately $20 billion. The treasure consists mainly of gold and precious stones. Full Story
"LET ME lay to rest the bugaboo of what is called devaluation," Richard Nixon told his fellow Americans on August 15 1971. The 37th President had just announced the US would "temporarily" close the gold window – ending the convertibility of Dollars into gold that had been key to the postwar Bretton Woods system. What didn't change in 1971, though, was every bit as important as what did. Because the Dollar remained the world's reserve currency – a "privilege" that, four decades on, looks increasingly like a curse. Full Story
In spite of constant headlines about debts and deficits, most Americans don’t really believe the U.S. dollar will collapse. From knowledgeable investors who study the markets to those seemingly too busy to worry about such things, most dismiss the idea of the dollar actually going to zero. History has a message for us: No fiat currency has lasted forever. Eventually, they all fail. Full Story
Gold has been shooting up this week, hitting one record high after another, hovering around $1600. Recently, it sold off on signs a debt-ceiling deal may soon be reached. Nevertheless, gold remains super strong. This U.S. debt standoff has been dominating the markets, along with almost daily ups and downs in the Eurozone’s debt crisis. That’s especially affected the precious metals markets. Full Story
By: Bob Chapman, The International Forecaster - 27 July, 2011
As we write the US government short-term debt extension is still up in the air. Both sides are not about to give up and lose a political victory. The President still is trying to recover from his ill-timed attempt at extortion. That is if a solution is not found by August 2nd, that he will let US bonds fall into default and terminate government’s Social Security obligations. Our question is how can you loot what has already been looted? Full Story
By: Jeff Berwick, The Dollar Vigilante - 27 July, 2011
What a circus the debate over the raising of the US Government debt ceiling has become. It's fun to watch everyone involved wriggling around trying to ignore the blue whale in the room. It used to be an elephant... perhaps around 1986. But now, after a decade of wars and trillion dollar deficits, the US Government debt has become like the largest mammal in the history of the world - the blue whale - and is perhaps so large now that it might be in everyone's best interest just to ignore it or their heads may explode from realizing the enormity of the problem. Full Story
The debt limit will be raised. Neither side will get its way. The U.S. government always raises the debt limit. How else would the debt and the government have gotten so large? Not raising the debt limit means that the government takes the road to financial suicide. That step would shock its creditors. The government would increase its own debt costs dramatically. Washington is not that stupid. Full Story
As we survey the various elements of the precious metals group in the run-up to Labor Day, it becomes very clear that something big is brewing. As we see, the chart of silver has formed an ascending triangle going back to Dec. ’09. This triangle has broken out today, and it presages breakouts throughout the precious metals group. Using the semi-log continuation chart (www.timingcharts.com) we can predict the price objective for silver at about $60 using the present data. Full Story
Our elected leaders need only look at the chart below to see how the budget stalemate will turn out. Gold has been rising at an exceedingly steep pitch since early July, implying that whatever deal emerges from the sausage factory on Capitol Hill, it will not much affect the ongoing destruction of the dollar that began in earnest in 1913 with the creation of the Federal Reserve System. The Fed, as we know, was charged with conducting monetary policy and supervising the banking system. However, events of the last few years have allowed the central bank’s directors to expand its mandate to….as Buzz Lightyear would put it, infinity and beyond. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 26 July, 2011
Last Friday we were led to believe that the debt-ceiling crisis would be over by the start of Asia’s business on Monday. The weekend has gone and so the deal. The markets are very nervous and beginning to worry that a deal will not be made. This is merely a political game to earn a name because one or the other gives-in first. But the two leaders represent national parties and not themselves; therefore, the sensitivity needed to back down just in time isn’t there. The structure of politics doesn’t allow it. Not only that, but it takes a few days to implement the ceiling change. Full Story
With cancer, early detection equals a greater likelihood that treatment will have a positive outcome. Physicians have known this for a long time, and the statistics back them up. Survival rates for those afflicted with many types of cancer have risen dramatically in the past few decades. And one of the primary reasons is that we are diagnosing cancer earlier and with much greater accuracy. Full Story
While the week ahead will undoubtedly contain more chair-slamming by senior politicians, brinksmanship by both parties, and hyperbole from the media remember one thing when you catch yourself listening to the empty babble. If you find yourself slipping into the “need to know mentality”, remind yourself that nothing will happen this week that will change the die, already cast and solidified for America’s near term financial future. Full Story
SO IS the U.S. housing market nearing its low? Priced against gold it just might be. Falling hard as the gold price doubled and more since 2006, the average US home is now priced at 103 ounces of gold – little more than one gold bar for settlement of a 100-ounce Comex gold futures contract. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 26 July, 2011
The first ever GAO (Government Accountability Office) audit of the US Federal Reserve was recently carried out due to the Ron Paul/Alan Grayson Amendment to the Dodd-Frank bill passed in 2010. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, while leading the charge for an audit in the Senate, watered down the original language of house bill (HR1207) so that a complete audit would not be carried out. Ben Bernanke, Alan Greenspan, and others, opposed the audit. Full Story
Every time I write a “World According to Gold” piece, gold is setting a new record, among a new crop of bubble-callers, and still the world hesitates to pile into gold for fear of getting burned. Many of those who have doubled or tripled their money have since died, retired, or simply kept on making money investing, succumbing to the addictive quality of wealth. The only other consistency with the new old record and another eponymous article, is that there is yet again more fiat capital in the system. But now, the rate at which capital fabrication is increasing is itself increasing. In other words, larger sums are required just to keep the international circle-jerk in motion. Full Story
Your five key buy points in the short term are $1610, $1595, $1578, $1558, and $1535. The question is, are you prepared to take buy action, if they happen? Remember that a little price sale should be met with very little buying. $1610 is a very small price sale, from the $1624 highs. Full Story
Recently, there has been much distrust of the political process in the U.S. where politicians are Dancing on the (debt) Ceiling, as the Lionel Ritchie song goes. Negotiations to raise the U.S. borrowing limit have continued to show little signs of progress, even as ratings agencies warn that a delay in payments to creditors would jeopardize the country's sterling credit rating. Full Story
By: William Poole, Senior Economic Adviser, Merk Investments - 26 July, 2011
As I write early Monday morning, it appears that the federal government is at the brink of default. The Republicans and Democrats have laid out irreconcilable positions on taxes. President Obama has said that he will not sign a bill that does not have some increases in tax rates on upper-income taxpayers. Republicans have said that they will not accept legislation that provides for such increases. In the negotiations, there has apparently been some progress in identifying spending cuts both sides can accept, but there no compromise is possible on the conflict over taxes. Full Story
By: Steve Saville, The Speculative Investor - 26 July, 2011
We'll now step back and review some 'big picture' inflation-adjusted (IA) charts. These charts show monthly prices in June-2011 dollars, using our own inflation index to adjust historical data for the estimated loss over time in the US dollar's purchasing power. As discussed in earlier commentaries, our inflation index is based on the assumption that the rate at which a currency loses purchasing power over the long term will be roughly equal to the rate of increase in its supply minus the rates of growth in productivity and population. Full Story
By: John Browne, Senior Market Strategist at Euro Pacific Capital - 26 July, 2011
President Obama has continued and increased the reckless spending of the previous Administration. Now, as the federal debt reaches its statutory limit, he is spreading fear and panic in the hopes of having it raised. any of the key people responsible for America's historic mess, including the President, Treasury Secretary Geithner, former NEC Director Summers, and Fed Chairman Bernanke, have pronounced publicly that a failure to lift the debt ceiling will cause a catastrophic Treasury debt default. Full Story
U.S. stocks fared somewhat worse than we’d expected on Monday, although the moderate weakness that occurred was a far cry from the collapse a hysterical news media had prepared us for. Index futures got hit hard Sunday night, to be sure, but it was the kind of stage-managed weakness that occurs nearly every Sunday night. Typically, professional traders take advantage of whatever mood swings weekend news stories have stirred up. In this case, the nervous Nellies were primed to dump stocks at fire-sale prices, stampeded by a scare-mongering press that would have us believe the global financial system will unravel if Democrats and Republican’s can’t work things out. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 25 July, 2011
Gold did not experience a bull market then. Yes, the gold and silver prices did rise remarkably but not because they were in a market that ‘was going up and must surely come down.’ We feel the titles ‘bull’ and ‘bear’ markets in the case of gold and silver are misnomers because of the central banking campaign to crush the gold price. A more accurate statement would be to say that currencies had a ‘bull’ market and went into a ‘bear’ market. The flaws inherent in the un-backed paper money system really started to show themselves from 2007 on. But this can only clearly be seen with hindsight. Full Story
By: The Gold Report and Éric Lemieux - 25 July, 2011
Laurentian Securities Analyst Éric Lemieux was headed out into the field a few days after this interview to check out the latest progress on some of his favorite exploration plays in the James Bay area of eastern Canada. In this exclusive interview with The Gold Report, he shared his latest insights on the gold market, and his current thinking on some of his favorite plays in the vast untapped areas of Quebec and Ontario now being opened up to expanded exploration efforts by both juniors and majors. Full Story
A variety of factors are lining up that lead us to believe we are on the cusp of a major move higher in the gold stocks. We feel we have been saying this for a while but the reality is we are moving closer and closer to that moment. The fundamentals couldn’t be more obvious and being in the 11th year of a bull market means the timing is ripe. We think you will find the facts and conclusions extracted from the technicals, sentiment, and valuations very compelling. Full Story
For more than 25 years, I have closely studied the silver market from a supply/demand and market structure perspective. For almost 15 years before that, I traded silver, along with other commodities, as a commodity and stock broker. In all those 40 years, I have tried to avoid analyzing silver in the context of it being an asset of last resort in a world financial crisis. Not because silver is not an asset of last resort but because that attribute has always been widely accepted and written about. I have always strived to uncover new and unique aspects to silver; there was no real value added in me writing about what was already known. Full Story
The battle royal between the Republicans and Democrats over the extension of the US debt ceiling above $14.3 trillion, or a historic 100 per cent of GDP, reaches its conclusion this week. Markets will fall as the debate heats up and brinksmanship takes over. But equally predictable is the rally when the politicians make a deal, rather like the eurozone crisis of the past few weeks and months. Full Story
By: Dr. Ron Paul, U.S. Congressman - 25 July, 2011
This analogy demonstrates the position we are in with our government and the debt ceiling. The government has run up a huge debt in the name of the American people, who are sick and tired of being on the hook for it. There are no really good options left. Defaulting on a portion of the debt may not be without costs, but it is better than handing the government yet another credit card. Full Story
By: Jeff Berwick, The Dollar Vigilante - 25 July, 2011
There are countless reasons, which we've shown in our public and subscription-based writings over time, why gold is not in a bubble. Aside from all the empirical data, however, probably the most obvious sign that gold is not in a bubble is the fact that the media and the government keep proclaiming it to be in a bubble. The media and the government never see bubbles coming. Full Story
By: Bob Chapman, The International Forecaster - 25 July, 2011
People know higher prices caused by inflation mean they can buy less with their money. What they do not think about is the long-term affect of inflation and how it negatively affects their overall standard of living. Inflation can only be caused by the Federal Reserve by creating money and credit in excess of economic growth. This is what the economy has had to contend with since 2000. Full Story
Mr. Benko supports the creation of a government-designed, government-run, and government-enforced gold standard. I do not. This is because there is abundant evidence that such a gold standard always turns into the central-bank fiat money standard that Keynesian economists and monetarist economists insist is the only possible way to maintain long-term economic growth. Fiat money is dishonest money. Full Story
By: John Mauldin, Millennium Wave Advisors - 25 July, 2011
This week we start with the latest version of the solution to the European Crisis, the details of which are now coming out. Then we look at the global economy, and some signs that seem to point to a softening. And then there’s some data on US employment from a friend who has some thoughts about what we really need to do to get unemployment to come down. There is a lot to cover. Full Story
It’s the thick of summer now and I’m trying to take it pretty easy this weekend and perhaps another weekend or two while the warm weather is here. The good news about that is that there is so much focus on the debt ceiling debates that you’d hardly know anything else is going on anyhow. Full Story
Who needs a Plunge Protection Team when there’s enough funny money around to keep stocks buoyant no matter what kind of mayhem is shaking the real world? Last week was that kind of week. And Friday that kind of day, each catastrophic event overshadowing the last. Through it all, an obscenely glutted, seemingly imperturbable Wall Street barely even flinched. Full Story
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