By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 February, 2013
Swiss banks UBS and Credit Suisse have moved to offer ‘allocated’ gold and silver accounts to their clients, including high net worth individuals, hedge funds, other banks and institutions. The move allows these entities to take direct ownership of their bullion in ‘allocated’ accounts. In addition, their storage fees have been raised by 20%. Full Story
There is one technical topping tool that has proven very effective in answering this question with a fair degree of accuracy. It is the application of the uncommonly used Fibonacci Ellipse. In last month's Trigger$ we predicted the January rally within what we believed to be the controlling Fibonacci Ellipse. Now we need to view what that Fibonacci Ellipses is telling us regarding what is ahead. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 1 February, 2013
In Switzerland, it's not just the clocks that are cuckoo. Over the past four years Swiss politicians and central bankers have gone on an unprecedented buying spree of foreign exchange reserves. In 2012, their cache swelled to as much as $420 billion worth of various currencies, primarily the euro. This figure is a seven-fold increase since 2008 and equates to 70% of the country's annual GDP. The sum translates to $200,000 per family of four, enough to keep the Swiss in clocks, chocolates, and fondue for many years to come. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 1 February, 2013
The truth, in regards to the world’s mineral resources, is that we in the western developed countries are not in control of supply. The map below was posted on reddit.com. While interesting it does not reveal the enormity facing the western world in regards to Security of Supply for many of our key minerals. Full Story
By: The Gold Report and Harry Dent - 1 February, 2013
Booms and busts in the economy are based on predictable demographic cycles such as those studied by Harry Dent, founder of HS Dent, chairman of SaveDaily.com and author of "The Great Crash Ahead: Strategies for a World Turned Upside Down." In this Gold Report interview, Dent predicts a global crash between mid-2013 and early 2015, in an ongoing decade of economic coma. Full Story
Is your precious-metals portfolio ready for 2013? We want to get positioned in the best performers ahead of the industry's next big move to maximize profit while minimizing risk. Some readers may question if gold stocks really have snapped out of their funk. We could discuss this topic for many pages, but the bottom line for us at Casey Research is simple: if you believe gold and silver prices are going higher, then equity prices will follow. Full Story
Cleansing all the Recovery Hype off one’s Boots, it is well to remember the Key and Threatening Baseline Reality which David Rosenberg notes. The recent Equities Rally and Glimmers of Economic Recovery are Artificial because they have been bolstered up on a Tide of Central Bank created liquidity (via QE etc.). Full Story
Gold moved sideways for the last six weeks, with each rally and correction sparking either new hopes or new fears about the yellow metal. But focusing on such short-term volatility can rarely bring any good when it comes to long-term investments. That’s one of the things that we often stress – one should always analyze the market form different perspectives and keep in mind their order of importance. This week we will focus on the long term. Full Story
By: Scott Wright, Zeal Intelligence - 1 February, 2013
Over the course of silver’s secular bull, the miners have steadily increased production in order to meet fast-growing demand. And in 2012 mine production exceeded 24k metric tons (770m+ ounces), an all-time production high and 28% increase over 2001. As an investor interested in silver’s structural fundamentals, this rapid growth begs a question. Where in the world is this silver coming from? Full Story
Amid continuing inflationary policy, the US Dollar is at a critical juncture by both daily and weekly charts. Euro targets 142+ and the Yen approaches our target. Currency war kicks off; gold just sits there biding time. Full Story
In my articles you’ve heard me talk about accumulating on weakness, buying support, being patient and waiting for better opportunities. Folks, this next week is one of those opportunities. The mining stocks have been a disaster if you’ve invested in the average fund, GDX or GDXJ. If you’ve invested in the wrong stocks, they’ve been a total disaster and you now hate the sector forever. We’ve certainly been surprised by this protracted struggle. However, the gold shares are set to test a major bottom and could be on the cusp of a major reversal which could begin as soon as next week. Full Story
The fiscal cliff, tax increases, the debt ceiling, missed earnings – investors certainly have had much to worry about lately. So why in spite of these fears has the market continued to rally? There's a Wall Street bromide that succinctly answers this question: “Bull markets climb a wall of worry.” Fear tends to fuel higher prices when internal momentum is rising due to short covering and other technical factors. It’s normally not until everyone has entered the market that the market finally tops out. Full Story
Silver is not going away. Its ongoing popularity seems to fly in the face of the modernist, the Keynesian and the visionary who dreams of a world without physical currency or money at all. Despite their viewpoints, silver and other precious metals remain sought after and valued by many investors. Full Story
By: Richard Daughty, The Mogambo Guru - 1 February, 2013
The whole distressing thing is a big stink about nothing. It started because of The Economist magazine, which unfortunately tends towards that whole ridiculous Keynesian crapola, but which nevertheless, and, I might add, quite paradoxically, had a very interesting article buried on page 75 titled "New Model army," with the subheads "Economics after the crisis" and "Efforts are under way to improve macroeconomic models." Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 31 January, 2013
Writing today for Forbes, the economist, fund manager, and author Nathan Lewis proves that Harry Truman was right about gold as well as everything else insofar as "the only thing new in the world is the history you don't know." Full Story
The CBO (Congressional Budget Office) will publish an updated Budget and Economic Outlook sometime next week that, along with all the budget changes stemming from the fiscal cliff deal arrived at earlier in the month, might also include changes to the other part of the debt-to-GDP calculations – economic growth. Full Story
After 18 months of going sideways, the monetary base appears to be breaking out. Given QE3 where the Fed is buying $85 billion a month of securities consisting of $40 billion of mortgage-backed securities (MBS) and $45 billion of US Treasuries. The Fed also appears to be now buying roughly 80% of all US Treasury issues. No wonder the Fed’s balance sheet has ballooned to over $3 trillion. Full Story
You've likely heard that the German central bank announced it will begin withdrawing part of its massive gold holdings from the United States as well as all its holdings from France. By 2020, Bundesbank says it wants half its gold reserves stored in its own vault in Germany. Why would it want to physically move the metal from New York? It's not as if US vaults are not secure, and since Germany already owns the gold, does it really matter where it sits? Full Story
By: Ira Epstein, The Linn Group - 31 January, 2013
I think a short position is warranted against the 1673 price level. As long as prices don’t get over 1685, where I’d recommend you initially place your stop. I’d stay short looking for prices to get down to 1652-1645. If prices were to get over 1685 and but not first under 1653.2, I think a long position would be warranted with a stop under 1653.2 and initial price objective of 1702. Full Story
SilverSeek.com’s 2013 Virtual Silver Investment Conference, an online, one-day event showcasing silver industry experts and top tier silver companies will begin at 9:30am Eastern on THURSDAY, January 31st. Full Story
The Gold Money Index, created by James Turk, is a simple but logical formula. It treats central bank gold reserves as international money – the world’s true and only reserve currency, if you will – and compares said gold reserves against central banks’ fiat currency reserves. Full Story
Gold has been real money (medium of exchange and a store of value) for over 3,000 years. It is still real money. Gold has no counter-party risk. It is not someone else’s liability. It has intrinsic value that is recognized around the world. ALL paper money systems have eventually failed. The intrinsic value of paper money is effectively zero; and all paper money has, throughout history, eventually devalued to zero. Full Story
Gold and silver prices jumped to their highest levels in three weeks, shrugging off a very untimely shift by investors into equities over the past few weeks, on news that US GDP fell in the fourth quarter. That immediately suggested the Fed may have to ramp up its money printing again. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 30 January, 2013
GoldSeek's companion Internet site, SilverSeek, will hold its 4th Virtual Silver Investment Conference online Thursday from 9:30 a.m. to 4:30 p.m. Eastern time featuring four GATA favorites: our consultant, GoldMoney founder James Turk; Sprott Asset Management CEO Eric Sprott; Silver-Investor.com's David Morgan; and GoldSeek and SilverSeek proprietor Peter Spina. Attendance is free for those who register in advance. Full Story
BACK in the final, dying days of 2012, Paul Tustain here at BullionVault offered a little fable to explain why money exists, how it is created by banks today, and why things could get very ugly tomorrow. Full Story
The Fed is growing increasingly splintered as an organization. The media hasn’t really picked up on this issue yet. But once they do things could become quite problematic for the Fed. Remember, the primary force that has held the financial system together since the Crash of 2008 was the view that the Fed could backstop everything. However, dissent is now growing at the Fed… which means it will be harder for it to move forward in a unified fashion. Full Story
Perhaps you have heard that the Fed is printing money to get out of the crisis and that such actions cannot possibly end other than in even more money being printed and in the dollar losing its ability to buy you tangible assets. In our essay on gold and the dollar collapse we pointed out that since 1970 the debt numbers have gone up more than 40-fold (!). In 2002, future Fed chairman Ben Bernanke noted that “the U.S. government has a technology, called a printing press (or today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at no cost.” Full Story
By: Doug Casey and Peter Schiff - 30 January, 2013
Casey Research chairman Doug Casey interviews financial pundit and author Peter Schiff. Their conversation covers a range of issues: gold, the validity of the US dollar, the Federal Reserve system and the Schiff family's fight with the IRS. Full Story
By: The Gold Report and Michael Fowler - 30 January, 2013
A lackluster U.S. economy is creating a positive environment for gold, according to Michael Fowler, senior mining analyst with Loewen, Ondaatje, McCutcheon Ltd. By calculating ounces-in-the-ground values and assessing for risk, Fowler has concluded, in this Gold Report interview, that the junior/midtier sector offers the best growth potential. He expects to see companies of all sizes try and control costs instead of looking for mergers and acquisitions to add value. Full Story
In 1980, the price of one ounce of silver reached $ 50. Today, the purchasing power of the US dollar is substantially less than in 1980. The price of one ounce of silver would have to rise to $ 150 to reflect the value of the US dollar thirty years ago, assuming an average annual inflation of 3.5%. Full Story
By: Rick Ackerman, Rick's Picks - 30 January, 2013
My colleague and erstwhile nemesis Gonzalo Lira posed the question above in a recent essay, and it is indeed a most puzzling one. Given that the world’s central banks — joined most recently by a shockingly reckless Switzerland — are waging all-out economic war by inflating their currencies, shouldn’t gold be soaring,? In fact, prices have continued to meander between $1500 and $1700 since September of 2011, when gold topped out at $1945 after a spectacular run-up from $728 in just three years. Full Story
Thomas Paine, born 276 years ago today in 1737, was a profoundly influential public figure and one of history’s most widely read authors. John Adams is reputed to have said that without the pen of Paine, the sword of Washington would have been wielded in vain. Yet Adams, like many others in the forefront of the political cataclysms of the late 18th century, loathed almost everything about Paine. Full Story
Renowned financial guru Peter Schiff presents his lecture entitled, "The Canadian Yuan: Why Canada Will Divorce The US And Marry China." Taped at Cambridge House International's Vancouver Resource and Investment Conference in January 2013. Full Story
By: John Browne, Senior Economic Consultant at Euro Pacific Capital - 29 January, 2013
Although it was barely noticed by the American press, on January 22nd, EU finance ministers approved a new "Financial Transactions Tax" (FTT) that has implications for market competitiveness around the world. The move was conceived as a Franco-German initiative and was supported by seven other EU nations, including the entire bloc of highly indebted southern tier nations, to reach the minimum nine nations required to press ahead under the EU's so-called, 'enhanced co-operation procedures'. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 29 January, 2013
Earlier this month Oprah Winfrey grabbed headlines with her blockbuster interview with serial doper and international pariah Lance Armstrong. Now, an animated Oprah keeps the momentum going with a harrowing interview with Federal Reserve Chairman Ben Bernanke, another major figure who is equally dependent on artificial stimulus to juice his job performance. Full Story
India's central bank just chopped interest rates, in the face of the worst economic growth in 10 years. “The RBI unexpectedly also reduced the cash reserve ratio (CRR), the share of deposits banks must keep with the central bank by 25 bps to 4.00 percent, which will infuse an additional 180 billion rupees into the banking system.” – CNBC news, Jan 29, 2013. Quantitative easing and “rates to zero” policy is spreading to every major economy around the world. Horrifically, despite these enormous “fire hoses of liquidity”, gold stocks continue their unending slide. Full Story
For seven years Ben Bernanke has played Master of the Universe, that is, has been Chairman of the Federal Reserve (Fed). Bernanke vehemently denies his actions put the US economy at risk. Au contraire, having prevented the US economy's collapse, the Fed's actions have yielded profits to taxpayers. Naysayers lament money doesn't grow on trees, value can't be created through the printing press. Full Story
The fashionable talk in financial markets these days is of a ‘Great Rotation’ from bonds into equities, a smooth transition from the largest bond market bubble in history to a more normal balance between equities and bonds. Full Story
Buying precious metals is just the first step. Deciding where to keep them is quite another decision. However, don’t let the issue of storage scare you away. Doing nothing and keep depreciating currency in a bank that pays little of no interest means you are already having your wealth stolen a little at a time day after day. Full Story
By: Rick Ackerman, Rick's Picks - 29 January, 2013
Surging stocks have us bears on the run, according to a story played prominently in Monday’s edition of The Wall Street Journal: “Investor Sentiment Is Improving, Making It Harder for Wall Street’s Pessimists to Hold Their Ground”. Oh really? We’d thought we were simply enjoying the show. It’s not as though permabears are always short the market, or that we don’t understand that stocks can sometimes veer sharply higher for no apparent reason. Full Story
Two of the top subjects that my Money Forever readers have asked us to cover are annuities, specifically how to pick the right one and covered in the November issue with a companion “how-to” special report (click here for how to get your copy), and reverse mortgages. Full Story
By: The Gold Report and Doug Casey - 28 January, 2013
Doug Casey's new book is entitled "Totally Incorrect," and, true to form, the chairman of Casey Research doesn't mince words. "Most Europeans believe the state owes them a living; the society is corrupt through and through." "Government acquires income by theft." "Nobody reads a book from the classical era in school; it's now mostly committee-approved pablum." Casey considers speculation in gold and silver junior miners and holding physical gold among the correct moves investors can make to protect themselves in a market headed for disaster. In this Gold Report interview, hear the world according to Doug Casey. Full Story
Well, here we are again, gripped in the heart of yet another mania blow-off, where both good and bad news is good for equities because so much liquidity is sloshing around. Add to this the banks, brokers, and Beltway Boys are doing their damdest to distract and obfuscate reality by any means possible, and you have markets doing all kinds of crazy and unexpected things, and generally behaving badly and broken. Full Story
Recent situation in the currency markets is all that precious metals investors like to see – for some time now we have been witnessing the strength in euro and weakness in the U.S. dollar. Unfortunately, what we did not see was the usual rally in gold, silver and other precious metals that normally accompanies such a set-up. That is mainly due to the unnatural state of correlations that we already discussed before. Full Story
Given the above for perspective, is gold at $5,000 to $10,000 per ounce unreasonable or impossible? Is silver at $200 to $400 per ounce unreasonable or impossible? Past bubbles have had an ending price 4 – 8 times higher than the phase 2 beginning price, so history has shown that such prices for gold and silver are indeed possible. Possible is not the same as certain – but these bubble price indications are certainly worth your consideration. Full Story
As many of you who have read my work in the past know, I expect the eventual endgame to this whole Keynesian monetary experiment that has been going on ever since World War II to finally terminate in a global currency crisis. I'm starting to wonder if we aren't seeing the first domino start to topple. Full Story
Last week I wrote about the mess the Bundesbank has found itself in over its gold bullion. But they are not alone: the Dutch, Austrian, Mexican and now even the Swedish central banks are also coming under public pressure to explain themselves and to repatriate their gold. The question that is central to the blind trust placed by central banks in the Bank of England and the Federal Reserve Board is whether or not this trust has been abused. Full Story
By: Richard Daughty, The Mogambo Guru - 28 January, 2013
To vividly demonstrate how rude people can be these days, let me recount a recent experience at the grocery store. guy, we'll call him Tom, and he is coming across the parking lot to go into the grocery store behind me. I recognize him, and, for me, it was a kind of reunion, and I thought he would be as happy to see me as I was happy to see him. But he wasn't. Full Story
By: Rick Ackerman, Rick's Picks - 28 January, 2013
The markets were suspiciously subdued Sunday night — developing thrust, perhaps, for the next maniacal surge. In retrospect, it seems remarkable that the broad averages were able to sustain an upward trajectory in recent weeks even as the most valuable stock in the world, Apple, was getting savaged. (Breaking news: Apple has fallen to second place, its cap value now exceeded by that of Exxon-Mobil.) The stock has plummeted 37% since September, from an all time high of $705 to Friday’s shell-shocked low of 435. Full Story
By: John Mauldin, Millennium Wave Advisors - 27 January, 2013
I wrote some time ago that Greece had a choice between Disaster A: staying in the euro; and Disaster B: leaving the euro. I have recently come back from four days in Greece, meeting with lots of people at all levels of society, and will share with you in this letter my analysis of their choices and the results. I’ll also have a few things to say about what the developments in Greece might mean for the rest of Europe and the developed world. Full Story
By: Eric Sprott & Etienne Bordeleau - 27 January, 2013
As we all know, central banks around the world have been frantically expanding their balance sheets. While exceptional times might warrant exceptional measures, Figure 1 below paints a rather troubling picture. The monetary base, the amount of money in circulation in the economy, has expanded at an incredible pace. Since the mid-80s, the U.S. monetary base had been very stable at around 5-6% of GDP. Through fractional reserve banking, this amount was sufficient to maintain annual inflation around 2-3%. With the banking system collapsing in 2008-2009, it was necessary for the Fed to increase the monetary base. However, banks are now in much better shape than they were in that period and the benefits of monetary expansion seem to be waning. Full Story
Spurious rumors, small substantiating facts, incontrovertible evidence, and finally, undeniable conclusions. We’re now at the undeniable conclusions stage. The buildup has been slow, but steady, the dots, sometimes slow to connect, are now doing so, and the only question remains how many more sets of eyes will be opened before the inevitable happens? Full Story
In recent weeks we’ve written about the decoupling or negative correlation between the equity market and mining equities. As the miners take a hard turn lower and the S&P 500 continues higher, this current trend is all the more obvious. At the same time, commodity prices have been in a cyclical bear and have struggled to gain traction. Our forecast for 2013 is for these cyclical trends to shift. It won’t happen instantly but it will slowly evolve in the coming months and quarters. Today, we see that the equity market is ever more closer to that cyclical top, miners are about to retest a major bottom and hard assets have a new catalyst. Full Story
It sure was an amazing week and by far the best week of the year so far for myself. Not for gold or silver by any means and that’s why I just hold some physical gold and silver and focus my daily energies on finding the big winners. Full Story
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