It feels a little callous writing about Japan with respect to precious metals after the country suffered such a terrible tragedy. However, I think it’s worth discussing because there’s a lesson in it for all of us. In fact, I think the moral could be couched in terms of a warning. Full Story
While gold and silver coins are nice to look at, and there's a certain sense of independence one gets from owning them, most purchasers buy physical precious metals with the goal of eventually spending them. Full Story
By: The Gold Report and James West - 1 April, 2011
Despite confusing short-term undulations in the price of gold, the shaky foundation under the U.S. dollar could result in long-term opportunities for gold and silver juniors, says Midas Letter Publisher and Editor James West. Full Story
Now, there a many good reasons to consider buying gold today. But a looming return to a Gold Standard ain't one of them. First because it ain't gonna happen. Second because, even if it did (which it won't), an official US Gold Standard would not deliver the rapture of $5,000 or $7,500 gold which all-too many people are starting to imagine (or promise, depending on which side of the coin-dealer's counter they stand). Full Story
By: Scott Wright, Zeal Intelligence - 1 April, 2011
With the price of gold still hovering around all-time nominal highs, the miners are continuing to revel in their long season of prosperity. And with gold’s structural fundamentals still wildly bullish, these miners should be delivering their gold at higher prices for a long time to come. Full Story
In 1751, Axel Fredrik Cronstedt of Sweden attempted to extract copper from the mineral Kupfernickel - today called niccolite. To his surprise instead of copper, he got a silvery white metal he started calling nickel. The name nickel comes from the German language and means Old Nick – which is a name Germans use for the devil – so nickel is “Old Nicks copper” or the “Devil’s copper.” Full Story
We have moved into a “Brave New World Paradigm in Politics, Resources, Economics, and Finance, and, therefore, in Investments” – a Black Swan (see below) World we name it. This Black Swan World requires a New Approach to Investing for Profit and Protection, an Approach which we outline here. Full Story
Let’s face it; the availability and cost of credit determine the value of every asset on the planet. When credit is cheap and plentiful, all assets (with the exception of government bonds) inflate or appreciate in value. Conversely, when credit becomes scarce and expensive, all assets (with the exception of government bonds) deflate or decline in value. Full Story
Is silver in a bubble? In our opinion; no. But what can we learn from past bubbles? There are many ways to detect an investment bubble including extreme positive market sentiment, outrageous demand and speculation, widespread mainstream acceptance that the investment is a “sure thing” etc. In this article we would like to focus on the big picture perspective of a markets price performance. Full Story
By: Richard Daughty, The Mogambo Guru - 1 April, 2011
Gary North in his Reality Check newsletter penned the essay “Gold vs. Guns and Badges,” wherein he notes that “There are only two conceptual options in monetary theory: a full gold coin standard in which the citizens hold the golden hammers or a system of economic planning in which elite members of the planning bureaucracy hold the digital hammers. There is no third choice.” Full Story
There has been an old saying in Europe for many years. It is that though the Rothschilds are not kings, they are the masters of kings. Yes, like old man Mayer Amschel Rothschild declared some 250 years ago—Give him control of a nation’s money and he cared not who wrote its laws. Full Story
By: Terry Coxon, The Casey Report - 31 March, 2011
Terry Coxon, co-editor of The Casey Report, is president of Passport Financial, Inc., and for over 30 years has advised clients on legal ways to internationalize their assets to optimize tax, wealth protection and estate planning goals. Read here how you can take advantage of a U.S. tax act and save a lot of money in the process… Full Story
There is no question that buying a home can be an emotional experience. Sometimes the desire to own is so strong the “want” to own outweighs the actual “need” to own. This strong desire can suddenly run into a brick wall of economic reality, however, when a would-be buyer realizes they do not have sufficient cash flow to pay for a 20 percent down payment and a mortgage, high taxes, annual maintenance, and the inevitable but certain major repairs that will be required on the property. Full Story
So often the finance folk engorge themselves with the concept that a low cost-of-carry is the sole reason for metals’ ascent. While cheap money perpetuates the commodity’s investment interest, it will be higher rates – not lower rates – that ultimately send metals higher. Full Story
By: The Gold Report and Bob Moriarty - 31 March, 2011
With industrial demand almost exclusively driving the price of silver for years, investing in the white metal used to be simpler. Now investment demand is competing with practical demand to push silver prices ever higher. Investor interest in silver from large U.S. funds could result in as many as 60 new silver plays entering the market this year. These are heady days for silver with a lot of upside in the cards—if played right. Find out how in this Gold Report exclusive. Full Story
By: Richard Daughty, The Mogambo Guru - 31 March, 2011
From Chartoftheday.com we get the Quote of the Day, which is from the legendary Will Rogers, who cleverly said, “The fellow that can only see a week ahead is always the popular fellow, for he is looking with the crowd. But the one that can see years ahead, he has a telescope but he can’t make anybody believe that he has it.” Full Story
The term “Great Recession” first came into popular usage a couple of years ago, a tacit acknowledgment that the economic quagmire we entered in late 2007 was qualitatively worse than any mere recession this country had previously experienced. As indeed it was – or if you prefer, continues to be. Home prices in the U.S. have plummeted more than 30 percent, while unemployment has risen to its highest levels since the 1930s. Full Story
Orthodox religion is not what it used to be in our society, a society where individuals are now taught to worship the self and wealth above all else. Respect for your fellow man is increasingly becoming a scarce commodity these days with this departure from traditional morals, the morals our fathers built what is suppose to be the most advanced ever. So the irony this thick in this regard as our society’s traditional moralities continue to fade, where at some point this process must be halted at the risk of such self destruction that our very survival would come into question. Full Story
The Federal Reserve is untouchable inside academia. But it is beginning to have critics outside of academia. The bust and bailout in the fall of 2008 sent a message that finally penetrated the information barriers imposed by Old Boy Network: "The banking system is rigged to favor the biggest banks." This has been true ever since 1914. The FED still has a free ride inside academia. It does not have one on the Internet. QE2 will backfire. There will be either price inflation or another attempted exit strategy. The exit strategy failed in 2010, as you can see here. There is no permanent exit strategy, other than Great Depression 2. When it comes, either before or after hyperinflation, the FED's Kings-X within the ranks of academia, with its depleted pension portfolios, will finally end. Full Story
By: Bob Chapman, The International Forecaster - 30 March, 2011
In today’s world there is always plenty to write about and today is no exception. As far as we are concerned QE3 is on the way accompanied by almost zero official interest rates. QE1 was to bail out the financial sectors in the US and Europe and QE2 was to bail out US government debt. That is why the Fed has purchased 70% to 80% of Treasuries. Previous debt and the $1.6 trillion of new debt created this year means someone has to buy that debt and there are very few buyers. That means the Fed has to buy most of paper with funds created out of thin air in this monetization process. Those tremendous amounts of funds will most certainly increase inflation. This policy is never ending unless default becomes inevitable. That is why money and credit has to be created indefinitely until hyperinflation occurs and the system eventually collapses. Full Story
It is quite self evident that global financial markets have not yet properly discounted what is going on in the Middle East and North Africa. That is because apart from the $100+ oil price nobody has a clue what is happening here, and those that do are too preoccupied fighting wars or dealing with the unrest and revolutionary fervour. Full Story
In 1931 a financial writer named Garet Garrett wrote the now classic book, “A Bubble That Broke the World.” Garrett’s contention was that the Great Crash of 1929 was made possible by the Federal Reserve’s monetary policy. Eighty years later another Fed-induced crisis is forming which, if allowed to continue, threatens to again break the back of the U.S. economy. Full Story
By: Richard Daughty, The Mogambo Guru - 30 March, 2011
I keep pounding, pounding, pounding the table that silver is the biggest bargain out there, for, at last count, a jillion reasons, and that anybody who does not buy silver Right Freaking Now (RFN) is making the mistake of a lifetime, and the family is all, like, “Will you please stop pounding the table? It is irritating and is making things spill, aside from the fact that we don’t have any money with which to buy silver, and you know that!” which devolved into a lengthy discussion about who among them was the most irritated with me and everything I say or do. Full Story
Gold is money and has been throughout history. When governments and their finances are stable, Gold becomes valued as a commodity rather than a currency and its then when its utility is diminished. When government finances are unstable, Gold becomes the money of choice. Saying Gold is just a rock is really ignorant. Full Story
By: Michael Pento, Senior Economist at Euro Pacific Capital - 29 March, 2011
By its very definition, fiat money is something created out of thin air: the word "fiat" is Latin for "let it be done" (as in, by decree). But the convenience that such a currency system offers central bankers is paid at the expense of savers. With nothing of real or lasting value on which to anchor, the value of fiat currencies can always blow away like ashes on a windy day. Full Story
“We are all getting poorer in hopes that a few don't get richer.” – Victor Hanson. Many gold investors are getting poorer, ironically, by waiting for a collapse of the dollar to make them richer. While a fall of the dollar against gold makes those around you poorer, it doesn’t make you richer. You may gain some power, but not riches. Only a rise in the dollar can make gold owners richer, because only a rise in the dollar allows you to buy more gold on sale. Gold is on sale this morning, but is anybody in the golden grocery store? Is anybody taking action? Full Story
Precious metals market, gold in particular, has been highly influenced by economic indicators and currency market, historically. In our previous essay entitled No Breakout in Gold So Far, Strong Resistance Seen in Silver, we have analyzed the situation in metals, however since no market moves on its own, this essay will provide complementary information regarding other markets. Full Story
By: The Daily Crux and Alex Daley - 29 March, 2011
Wouldn’t it be great if there were a sector where you have the edge over the Goldman Sachs of the world? A market where small players can outmaneuver the big guys – and where having knowledge of that market gives you a distinct advantage over day traders? Such a market exists - biotechnology. Small and mid-cap biotech firms don’t get a lot of close coverage by analysts, so with the right expertise it’s possible to beat the masses to the early profits. Full Story
By: Steve Saville, The Speculative Investor - 29 March, 2011
When it comes to their outlooks for China's economy, most analysts fall into one of two groups. The first group is outright bullish on China's prospects over all time frames, while the other is very optimistic on a long-term basis but is concerned about the potential for a painful short- and/or intermediate-term 'correction'. In other words, most analysts are long-term bullish. Full Story
Capital waves control the direction of markets; they are flows of money, the liquidity that dictates direction. There is nothing like a good gold rally because it is driven by fear. As I will explain this coming rally is shaping up with considerable force, the capital wave to hit this market sector will be a monumental event. You will want to be on this wave with as much capital as you dare to commit to precious metal mining stocks and gold (include silver). Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 29 March, 2011
Thanks to Zero Hedge's pseudonymous Tyler Durden tonight for unearthing the long statement submitted this month by World Gold Council CEO Aram Shishmanian to the U.S. Commodity Futures Trading Commission in opposition to the commission's proposal to impose limits on traders' positions in the precious metals futures markets: Full Story
By: The Gold Report and Jason Hamlin - 29 March, 2011
As an investor, sometimes the best action you can take is no action. Jason Hamlin of the Gold Stock Bull newsletter didn't start snapping up stocks on news of disaster in Japan and military attacks in Libya. In this exclusive interview with The Gold Report, Jason tells why he's holding his ground and how macro issues spanning the globe could push precious metal prices. Full Story
By: The Energy Report and Rick Rule - 29 March, 2011
If the clouds of crisis enveloping Japan, the Middle East and North Africa hold any silver linings, they may be in the form of opportunity for resource investors, particularly in the uranium, oil, natural gas and alternative energy sectors—at least that's how Rick Rule sees it. Full Story
By: Richard Daughty, The Mogambo Guru - 29 March, 2011
Dominic Frisby of Money Morning newsletter quotes Nick Laird of Sharelynx as saying that the situation in silver is such that “since 1950, almost 925,000 tonnes have gone into demand with 570,000 tonnes of this having come from production. This leaves a shortfall of 350,000 tonnes, which has come from central bank sales, stockpiles and scrap. This deficit equals approximately 16 years of production.” Full Story
By: Rick Ackerman and Mario Cavolo - 29 March, 2011
With debt spinning wildly out of control and the States threatening to revolt against the tyranny of Washington, we asked some frequent contributors to the Rick’s Picks forum how they thought the nation would look five years from now. In the essay below, Mario Cavolo, an expatriate whose business is based in Shanghai, says Chinese wealth is clamoring for bargains in the U.S. and that a falling dollar will bring enormous Asian investment to our shores, infusing the U.S. economy with new vitality. The bad news is that large swaths of the American middle class will be devastated by the shifting economic landscape, unable to take advantage of the opportunities that voracious demand from foreigners will create. Full Story
This paper is written as a response to market observers who opine, “how can the price of precious metals be suppressed when their prices have empirically gone up 4 fold and more over the past 10 years?” Full Story
By: Bob Chapman, The International Forecaster - 28 March, 2011
The US dollar continues under acute pressure, as the world seeks an alternative reserve currency. The days and years of manipulation, fraud and criminal behavior are fast coming to an end. New alliances are evolving, as are outspoken advocates of a new world reserve currency. As a result more and more foreigners are bypassing Treasury and Agency bonds, as well as other US dollar denominated investments. We watch as other major nations accumulate gold and cannot help but think that the new world reserve currency will be gold backed. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 28 March, 2011
There's revolution and war in the Middle East and Africa, devastation and nuclear contamination in Japan, and turmoil throughout the world financial system, but the Financial Times always has time to try to make fun of gold and those who see any virtue in it. Full Story
You are on the back of a tiger. You had no say in the matter. You are part of the international economy, and central bankers run it. First they inflate. Then there is a boom. Then there is price inflation. Then they stop inflating. Then there is a recession. To keep it from becoming a depression, they inflate. Year after year, decade after decade, generation after generation, this is what central bankers do. Full Story
By: John Mauldin, Millennium Wave Advisors - 28 March, 2011
The central banks of the developed world are printing money and are engaged in a very-low-interest-rate regime. What does that mean for emerging markets? It is more than just a dilemma, it is a tri-lemma – they have problems not just coming and going but also sitting still! I am in Zurich tonight after a long day, with a 4:30 AM wake-up call to get back home, but deadlines are deadlines. So, to make this one easier on me as well as hopefully instructive for you, you will get chapter 15 of my new book, Endgame, in which coauthor Jonathan Tepper and I speculate about the future of emerging markets in general and investments in them in particular. Full Story
Any investor in silver must have found the past six months pretty exciting. This precious metal has more than doubled in that time. The pessimists see a high flying price heading for a fall, and they did so last autumn before this take-off. Full Story
By: Richard Daughty, The Mogambo Guru - 28 March, 2011
Not long ago, as I recall, a pension fund in some foreign country, one of those Scandinavian ones I think, was ordered to invest no more than about 3% of its custody assets in gold, meaning that the fund had too much gold, and to sell part of its gold holdings in order to comply. Full Story
Watching the Dow Industrial Average cavort in the thin air above 12000 while the world goes to hell, we’re reminded of the famous exchange between Senator Joseph McCarthy and U.S. Army counsel Joseph Welch during the Army-McCarthy hearings: “Have you no decency, sir?” asked Welch after the Commie-baiting McCarthy had smeared a junior lawyer from Welch’s firm with a ruinous accusation. We might ask the same question of the decision makers who in recent weeks have been driving stocks higher no matter how grave the news or world-shaking the event: Have you, the Masters of the Universe, no decency? Full Story
All in all it was a great week. Markets rebounded nicely and shrugged off higher oil prices and put in very good performances. Bottoms seem to be in, in nearly every market I watch, Egypt’s being one exception but after being closed for so long it did hold up very well in my view. Full Story
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