By: Chris Mullen, Gold-Seeker.com - 30 November, 2007
Gold traded mostly slightly higher in Asia and London before it fell in morning New York trade and dropped to as low as $778.90 by about 10:45AM EST. It then rebounded about 0.5% higher into the close, but it still ended with a loss of 1.52%. Silver dropped all the way to $13.77 before it rallied over 20 cents off that low, but it still ended with a loss of 1.76%. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 30 November, 2007
-Expecting something pretty dramatic…the immovable object that the Fed is up against… -Financial authorities unable to catch a giant egg…wishful thinking regarding a correction… -What's in your Prison Portfolio?…female improvement - and exercise in futility…on the uses of the word 'whereas'…and more! Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 30 November, 2007
As the losses mount, the credit crunch will spread from mortgages to auto loans and to all forms of consumer lending. The days of Americans borrowing to consume are finally coming to a long over due end. Although it seems like science fiction to Americans raised on credit cards, within a few years most will only be able to buy those goods they can afford to pay for with cash. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 November, 2007
The foreign exchange markets are not solely about exchange rates. They are about values, smooth flowing of international trade, about trust and reliability. The sight of the $ falling over a long period of time, with bounces and recoveries that don’t change the downward trend is far more than simply a drop in value! Full Story
By: Scott Wright, Zeal Intelligence LLC - 30 November, 2007
In the wild and whacky world of gold stocks, investors and speculators have a wide range of options for capital deployment. These options can be categorized in many different ways, but it all boils down to risk. The degree of risk varies from extremely risky with the junior gold explorers to just plain risky with the large senior producers. Full Story
While the fundamentals and long-term technicals for Gold will remain roaringly bullish, the Interventional intentions and capabilities once again are critical. If the air continues to bleed out of the Equities markets, will The Cartel be able to afford to allow investors a “go to” avenue of escape (from Equities) in Precious Metals bullion and share prices. Can it stop such a move? Full Story
As per my expectation, the bull-market is powering ahead due to monetary inflation and the accelerating debasement of currencies. Gold is now trading close to $800 per ounce and the yellow metal is likely to continue its advance until spring next year. At today’s level, adjusted for inflation (even using the understated inflation figures released by the Federal Reserve), gold is still roughly 65% cheaper than where it was in 1980. Full Story
By: Llewellyn H. Rockwell, Jr. - 30 November, 2007
It's been a grueling Fall 2007, with the continued shocks from the housing mess, the market sell-off, oil still sky high, the dollar hitting new lows, and the rising gold price giving that ever-ominous sign of trouble ahead. Business conditions have deteriorated dramatically. Full Story
DELL reported positive results after the bell yesterday, with quarterly earnings and revenues rising by 27.5% and 8.5% respectively compared to last year. However, with per share earnings missing analyst estimates and operating margins sliding to 5.29% (from 6.1% in 2Q08), shares traded sharply lower after hours. Full Story
By: Gary Dorsch, Editor, Global Money Trends newsletter - 30 November, 2007
Oil prices are up 56% this year, after nearly reaching $100 per barrel. At the same time, the US Dollar is mired at a 20-year low, with the US economy teetering on the verge of a recession. The US dollar has fallen over 50% versus the Euro since 2002, and oil prices are nearly five times higher over the same time period. Increasingly, the US dollar’s reserve currency status is looking very fragile. Full Story
By: Richard Daughty, The MOGAMBO GURU - 30 November, 2007
I can see the comparison would have been inappropriate because these are not merely forces he is talking about, but megaforces, like some huge, murderous juggernaut viciously stomping across the economic landscape… Full Story
By: Rick Ackerman, Rick's Picks - 30 November, 2007
Another surprise is that the dollar hasn’t gotten pummeled by the same whiff of Fed easing that caused stocks to go bonkers. While this tends to reinforce the bullish call we made on the dollar when it was hitting bottom last week, it’s too early to say for sure, since the Dollar Index has generated only one bullish impulse leg on the hourly chart since the low. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 29 November, 2007
-Signs of draining liquidity in the markets…the string pulled by private lenders… -The fragile skeleton of the U.S. economy…rate cuts could induce a currency bloodbath… -When inflation and deflation collide…expecting a shift against free trade…and more! Full Story
Readers of the Goldseek site understand the revolution which would occur if America were to return to a gold standard, such as was erected by the Founding Fathers and lasted until 1933. During this time America had the wealthiest and most rapidly growing economy in the world, and prices over the period were stable. Full Story
The pull-back we are seeing in gold and silver is nothing more than some high-volume backing and filling, within the major uptrend. The annual Christmas rally which started in August has a lot of life in it yet. Full Story
The US Federal Reserve is behind the curve. Great consequences have resulted and are likely to continue to result. Many words can be used to describe this group. What come to mind are inept, compromised, corrupted, distracted, ill-trained, but also clueless, deceptive, myopic, overly cautious, and off the market in their focus. When they remain transfixed on economic growth versus price inflation, they are stuck in the past, in a world that no longer exists. Full Story
After a rough six weeks, investors are shaking the cobwebs from their heads and reevaluating the stock market’s upside potential. What many had assumed would be a slam-dunk in the fourth quarter turned out to be painful and frustrating as the market declined all the way back to its August correction low. Full Story
By: Richard Daughty, The MOGAMBO GURU - 29 November, 2007
My God! The entire Gross Domestic Product of the United States…is only about $14 trillion! So we are talking about losing, at a stroke, the equivalent of 26% of everything we make in an entire year? Yow! Full Story
By: Rick Ackerman, Rick's Picks - 29 November, 2007
Given the stock market’s remarkable surge the last couple of days, anyone reading only the headlines might get the impression that all our economic troubles were behind us – the mortgage crisis, falling home prices, dark clouds of recession, the sickly dollar, etcetera. Alas, all of those problems are still very much with us and growing, even if Wall Street’s wildly exuberant behavior would seem to suggest strongly otherwise. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 28 November, 2007
-The dreaded 'r' word…pity the poor RV owners… -It looks like our predictions are coming true - after seven years…reaching a 'pushing on a string' problem… -Is it time to buy Japan?…there's no accounting for taste…and more! Full Story
You can either bail out the big banks with a flood of cheap money, or you can keep a lid on inflation. You can't do both, not according to history. And sometimes – like now – you'll be hard put to achieve either. Full Story
By: Bob Chapman, The International Forecaster - 28 November, 2007
As the US dollar falls America and the economies of every country will suffer to some degree. Over the past several years the dollar has fallen from 120 on the USDX to about 75. The latest breakdown occurred recently when 26-year support was broken at 80. The US dollar index is computed using a trade weighted geometric average of six currencies. They are: the euro 57.6%, the yen 13.6%, the UK pound 11.9%, the Canadian dollar 9.1%, the Swedish krona 4.2% and the Swiss franc 3.6%. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 28 November, 2007
Will 800 become the ceiling or preferably the new floor? Short term I don’t know, but I am excited watching so much positive strength in this market. The crap is hitting the fan and gold is responding appropriately and properly. My personal opinion is that 800 may just become a floor price for gold. But who am I to know? Full Story
By: Richard Daughty, The MOGAMBO GURU - 28 November, 2007
This is the most asinine and thoroughly ridiculous thing I have ever heard! In all my years of studying economics and rigorously defending my theories…I have never heard of such a thing as a 'danger of low inflation'… Full Story
By: Rick Ackerman, Rick's Picks - 28 November, 2007
Think there’s a chance the Dow Industrials will be trading at least one percent lower a couple of months from now? So do we. Now suppose someone was willing to give you 5-to-1 odds that it won’t happen – that the Dow will be at current levels or higher come late January. Would you take that bet? Of course you would. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 27 November, 2007
-Is progress a fraud?…inventions that make a difference in the world… -An era of declining marginal utility of work…America's middle class isn't going to like what it gets… -Buy the whole Dow for 15 ounces of gold…examining 'secular terrorism'…and more! Full Story
The facts, as contained in the COT, are clear; 4 or less large traders are net short (when the uneconomic spread transactions are subtracted) more than 50% of the entire COMEX silver futures market, and more than 40% of the gold market. With such an extreme level of concentration, it is not possible that these large traders are not manipulating silver and gold prices. Ask yourself this – what would the price of silver and gold be if this concentrated short selling did not exist? If your answer is, as it must be, (much) higher, you must conclude that these are manipulated markets. It’s as simple as that. Full Story
By: Steven Saville, Speculative Investor - 27 November, 2007
China continues to grow rapidly and consume a lot of metal in the process, but increased Chinese demand was never likely to fully offset the effects on metal prices of reduced Western-World demand stemming from the downturn in the US housing market and the debt-crisis-induced reduction in liquidity. Full Story
By: Richard Daughty, The MOGAMBO GURU - 27 November, 2007
It was then that I wished if I knew of any time in my whole freaking life when some woman ever said to me, 'Don't buy me any more jewelry! Buy gold bullion as an investment, instead!' And I laughed. Full Story
By: Rick Ackerman, Rick's Picks - 27 November, 2007
The stock market’s lazy drift lower turned ugly in the final hour yesterday, demonstrating once again that the Santa factor is no match this year for investors’ unusually severe jitters. The Yuletide effect should have been working at full-strength, given that weekend shopping reports were quite upbeat. Full Story
By: The Mogambo Guru & The Daily Reckoning Crew - 26 November, 2007
-Three important milestones could be reached this week…what will $100 a barrel oil mean? -New all-time high for the euro…signs of the slump everywhere… -A nightmare for the U.S. economy…Ali Samsam Bakhtiari, RIP…and more! Full Story
The market is misunderstood and participation is much better than two to three years ago, still mild relative to almost every other asset class. This of course presents opportunities for those wise enough to see them and take action. Both gold and to a lesser degree silver have held up well this year and continue to show strength. Full Story
The US Dollar ($) is losing its global reserve currency status, and the rate at which this is occurring is accelerating in direct proportion to easy money policy of the Fed. As with the $’s reaction to the Fed’s policy decision, any further administered rate cuts will be met with an accelerating decline in the $, along with unfavorable and opposite reactions in market rates. Full Story
The rally since August had reached the initial projection of $840 a few weeks ago and the new target is now $915. After reaching that initial projection gold reacted lower for a couple of weeks but bounced back to the up side this past week. Full Story
Over the last thirty-five or so years people have been de-sensitized to the ‘chill-and-fever’ syndrome epitomized by the gyrating value of the dollar. It had its ups and downs but, here we are, still doing business using the services of ‘Old Trusty’. People appear to be forgetful that the dollar is steadily losing value, losing purchasing power, losing the all-important respect of foreigners. Full Story
The World Game was created in 1961 by Nobel Laureate Buckminster Fuller. The intent of the game was “to make the world work for 100% of humanity in the shortest possible time through spontaneous cooperation without ecological damage or disadvantage to anyone." Full Story
1st Hour: Headline news & market forecast. Spotlight Picks with big dividends. The International Forecaster and Chris Waltzek answer listener questions. 2nd Hour: -Bernard von NotHaus, Robert Ian, Jack Chan, Warren Buffet Full Story
Last week the Yen rallied setting off the first warning. Last week the Yen/Euro cross favored the yen over the euro – flashing another warning. Last week saw the TED spread widen to its largest degree yet – a third warning signal. Full Story
By: Bob Chapman, The International Forecaster - 25 November, 2007
Gold was up against all currencies early Friday morning except against the yen and the Swiss franc, both carry trade currencies, as the cartel continues to unwind the carry trades to hit gold. Protective derivatives are a must to survive the coming onslaught as the cartel will stop at nothing to slow gold down, risking a 1929 scenario that may well backfire on them as everyone may turn to gold in the coming onslaught as the losses mount. Full Story
With today’s gold rally up to 826.4, February Gold has begun another Bull Market Leg up. Higher highs and higher lows are now the pattern. You will see in it in the Daily Gold Chart below. Full Story
Once the Dollar loses its role as the supreme reserve currency, just what other uses might it be put to exactly – wall-papering the inside of central bank vaults? Rolled up for use in the People's Bank restrooms...? Full Story
By: Sol Palha, Tactical Investor - 25 November, 2007
The markets rocketed up yesterday but the volume was very light and we would need a follow through to confirm that a possible new up trend has taken hold. We personally suspect that if there is a follow through rally it will not last and we will pull back one more time to test the intraday lows put back in August (12550-12600). Full Story
Because I am holding gold & silver miners with a firm hand, I do not find the need to write about them if nothing has changed, and given that the precious metals indexes and gold itself have held to our downside targets, nothing has changed. Full Story
By: Richard Daughty, The MOGAMBO GURU - 25 November, 2007
Like me getting drunk and surly, and then thinking that getting me drunker makes me more convivial. It does. For awhile. A very short while. And then, like in economics, there is hell to pay. With vomit, usually. Full Story
By: Rick Ackerman, Rick's Picks - 25 November, 2007
Extremely light volume allowed DaBoyz to plump up stocks during the traditionally brain-dead-but-buoyant post-Thanksgiving Friday. The short-squeeze added 182 points to the DJIA, recouping exactly half of the losses sustained earlier in the holiday-shortened week. However, wholly unpersuaded of the rally’s sincerity, we found ourselves bidding for some December 129 Diamond puts a minute before the final bell. Full Story
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