By: Bill Bonner & The Daily Reckoning Crew - 29 September, 2006
-Autumn memories...the trouble with history is there usually isn't enough of it... -If Bernie Ebbers is going away for 25 years for misleading a handful of investors, how long will Greenspan and Bernanke get for misleading an entire nation? -Do people have the wrong idea about Iran?...and more! Full Story
Deepcaster has found that employing all three major market analytical techniques - - fundamental, technical, and interventional - - is essential to successfully forecasting market moves. In particular, employing interventional analytical techniques when we are in the throes of obvious major markets interventions, such as we are today, is essential. Indeed, Deepcaster’s view is that we are now witnessing interventions massive in their degree and scope - - that is, we are witnessing The Mother of all Interventions. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 29 September, 2006
Any way you slice it, the fact that criminals are moving from dollars to euros is a negative development for an American economy accustomed to the subsidy. In addition, it reveals the diminishing prestige of the dollar and the increasing concerns others have for its reliability as a dependable store of value. Because cash under a mattress earns no interest, the only consideration given is it’s preservation of purchasing power. The fact that criminals increasingly prefer euros to dollars speaks volumes. If only Gartman had the good sense to listen. Full Story
By now, pretty much the whole sound-money community agrees that humanity in general and the U.S. in particular are headed for seriously hard times. But exactly how we get from today’s illusion of prosperity to tomorrow’s financial Armageddon is a tougher call. Will the global economy collapse under a mountain of debt as in the 1930s, or will central banks run the printing presses until hyperinflation vaporizes most fiat currencies? As Sprott Asset Management’s John Embry recently put it, inflation vs deflation “is THE question, really.” Full Story
By: Congressman Ron Paul & The Daily Reckoning Crew - 28 September, 2006
-Hedge funds are a form of conspicuous consumption; lowering the price would destroy the whole illusion... -The FBI is on the case...what's ahead for gold? If only we knew! -We don't buy gold to make money; we buy it not to lose any...who does the Western world need protection from the most? The Mideast - or the United States...and more! Full Story
When you understand how the recent attack on Lebanon fits into the “Grand Plan” for the Middle East, you have an immediate and substantial advantage over other investors in the Energy and Precious Metals sectors. Full Story
By: Bob Chapman, The International Forecaster - 28 September, 2006
The biggest risk now is for a falling dollar. Now that interest rates are not rising anymore, and money and credit are still expanding at least 9%, there will be continual downward pressure on the dollar. Foreign central banks continue to cut back on purchases of Treasury and agency securities and the Fed and the Treasury prop up the dollar. If the Fed attempts to lower interest rates the dollar could quickly fall 35%. The powers behind government are trying to keep the economy afloat by affecting a soft landing for real estate, which is not possible. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 27 September, 2006
Well, I know you’re thinking about this. Has gold peaked? Have commodities peaked? No. Next subject. Should you consider investing in precious metals? You know…it used to be my goal to introduce the gold market to one and all. I really believed that everyone should be reaping the benefits and profits that come from investing in gold and silver. But I don’t know about this any more. Full Story
By: Dr. Kurt Richebacher & The Daily Reckoning Crew - 27 September, 2006
-Bernie Ebbers' number is up...when it comes to numbers, anyone could make the same mistake - they are very slippery... -Hunter was long - and now investors are short $6 billion...the Panic of 1837 and other financial disasters... -The United States' growing balance of payments problem...33 AD's credit crunch...and more! Full Story
Everyone here should have at least $5000 worth of silver. Therefore, I strongly urge you to go to your local coin shop, and clean them out. The coin shop may have only $5000 to $50,000 worth of silver on hand, and most investors here can easily buy all they have. Go to the bank, get your cash, and get your silver. And get a safe at Wal-Mart, and bolt it to your garage floor, or put it in your closet. Full Story
By: Richard Daughty, The MOGAMBO GURU - 27 September, 2006
Unlike Goldilocks, however, I not only take lots of loaded large-caliber weapons with me when I go snooping around in the houses of bears, but I also extrapolate beyond mere porridge temperature and bed softness to lots of other things, including inflation, which should always be zero. And if inflation is greater than zero, then inflation is much more terrible than some unarmed bear. And if it is NOT zero, then it should be falling gently below zero, so that prices are actually drifting softly down, increasing everyone's standard of living the whole time. Full Story
Investors are confused over reports of slowdown in global economy for 2007. As a result volatility in commodities, equities as well as bonds has considerably increased. Full Story
By: James Boric & The Daily Reckoning Crew - 26 September, 2006
-Gawking at a speeding drunk...whatever a rising housing market pumped into the economy, a falling housing market is sucking back out... -A big game of make-believe...diesel's surprise advantage... -Risk is divorced from consequences...the comic unreality of the hedge fund industry...and more! Full Story
By: The Mogambo Guru & The Daily Reckoning Crew - 25 September, 2006
-We're just watching...waiting...as the great spectacle plays itself out... -Autumn's sweet hint of death...LA's desperate homeowners... -A lesson in inflation...speculating on Spacs and Starts...the economy may be growing - but are people better off?...and more! Full Story
In the first hour of the show, I start off with a recap of the leading market headlines. Next, Bob Chapman and I discuss the implications of this weeks FOMC rate decision. Bob thinks that the Fed has painted itself into a corner. If they raise rates the housing market will collapse. Whereas, lower rates will send the dollar reeling off the edge of a cliff. Bob is concerned that if rates stay fixed too long, foreigners will cease to purchase our bonds required to satisfy the $2 billion dollar weekly injection of capital. Next, the second installment of GoldSeek Radio's audio book review of the investing classics. We'll listen to a few excerpts from Benjamin Graham's, The Intelligent Investor.
In the second hour, The Adventure Capitalist and commodities Mogul, Jim Rogers returns to the show. Jim expects the Canadian or Montreal stock market to outperform US stocks in the next decade. He also outlines which sectors and industries he's monitoring in anticipation of spectacular returns. Jim remains bullish on gold and expects the yellow metal to climb to $1,000 per ounce. Next up, Arch Crawford scans the firmament for market clues. Arch expects the year 2007 to provide incredible profits for precious metals investors, as hyperinflation heats up. Plus, Jim Letourneau joins me from the Big Picture Speculator. Jim is a geologist turned investor who is wildly bullish on the energy sector. In fact, he believes the oil industry may require five years before reserves reach a sustainable level. He expects silver to run to $50 and the precious metals advance to accelerate once the general public awakens to its incredible potential. Full Story
By: Bob Chapman, The International Forecaster - 24 September, 2006
The sales were obviously timed to effect gold prices as we approach US elections. The largest weekly sales were on the week ending May 5th, when 62 tons were sold on the month as gold climbed from $676 to $730 on May 12th. They were timed to halt the gold rally at that time from extending to $850. We also reported earlier that at the same time the US Treasury sold 500 tons in the high $600s to assist the other central banks in capping the gold price at that level. All European countries were sellers to their quotas with the exception being Germany, which could have sold 120 tons. That leaves little more for sale for the year ended 9/30. Gold could swing down to $540.00 to $550.00, but with the short covering we have seen and the end of central bank sales for now the $580.oo level could well hold. Full Story
Unlike base metals, Gold is purely a monetary asset. So while falling economic activity will have a negative impact on base metals demand and, consequently, base metals prices, the same is not true for gold. Falling economic activity has no impact on the gold price. Because gold is a monetary asset the gold price is determined predominantly by the inflation rates of fiat paper money and currency exchange rates. Therefore, a slowdown in US economic growth coupled with a declining US dollar exchange will have a positive impact on the gold price even if base metals prices fall. Full Story
By: John Mauldin, Millenium Wave Advisors - 24 September, 2006
Yesterday the Philadelphia Fed Business Economic Survey came in at the lowest level since the recession in 2001. Some argue that it is just one month's worth of data, and "...besides, it is Philadelphia. Those numbers are always quirky." And why pay attention to the Conference Board's Index of Leading Economic Indicators? The bond market has its own opinions, and they are different than that of the stock market. With all of this as backdrop, we will then think about why we should be optimistic. Things are going to get better. All it takes is a little innovation. Full Story
By: Rick Ackerman, Rick's Picks - 24 September, 2006
Technical signs that a major top is in continue to accumulate, some of them ominously coincident with the autumn equinox and yesterday’s solar eclipse. On the S&P chart, MACD and relative strength indicators are flashing red, and support for Dow stocks is breaking down at the 10-day moving average. Full Story
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