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Weekly Archive

By: Bill Bonner & The Daily Reckoning Crew - 2 May, 2008

-Laughing in the face of market sentiment…a world full of 'maybes'…
-The artificial props of Bernanke and Co…more and more people squeezed out of the middle class…
-An interesting bag lady in the Piazza di Navona…an expensive breakfast for two…and more! Full Story

By: Peter Schiff, Euro Pacific Capital, Inc. - 2 May, 2008

With what many have described as a flash of monetary discipline worthy of Paul Volcker, Ben Bernanke reduced short-term interest rates this week to a mere 2%, apparently turning a deaf ear to those on Wall Street who wanted more. But now that the dollar-crushing side effects of cheap money are widely understood, there is, in reality, little pressure remaining for steely-eyed Ben to resist. Full Story

By: Scott Wright, Zeal Intelligence LLC - 2 May, 2008

While recent activity in the gold stock sector has caused many of its battle-hardened investors to capitulate, the tried and true speculators still holding strong in the junior-gold-stock realm are feeling beaten and bloodied. Full Story

By: Deepcaster - 2 May, 2008

The Starting Point for protection and profit is to determine how much of one’s investment capital one wishes to have in a Core Position of Gold, Silver and other Tangible Assets and then to determine appropriate investment vehicles in which to hold one’s Core Position. Full Story

By: Adrian Ash, BullionVault - 2 May, 2008

So while Ben Bernanke's big fix for the housing market has failed to squash longer-term mortgage rates, it's also failed to reduce interest rates for the government, too. It also represents an ugly return of the Greenspan Conundrum. Full Story

By: Daniel R. Amerman, CFA - 2 May, 2008

The credit derivatives market is roughly 30 times the size of the subprime mortgage market – and potentially even more at risk in the coming years. In the previous article, The Subprime Crisis Is Just Starting, we explored the roots of the subprime crisis, demonstrated how mortgage securitizations work, and then used this knowledge to show why 2008 could be a much more dangerous year for the subprime mortgage markets – and the global financial system – than 2007. In this article, we show how the same fundamental – and quite human – motivations that created the subprime market crisis also imperil the $35 trillion global credit derivatives market. Full Story

By: Roland Watson, The Silver Analyst - 2 May, 2008

Inflation, the US Dollar and real interest rates all went belly up again as gold hit the bottom in August 1976. Those who got in then at $103 would see gold increase another 8 fold. What is an eight fold increase from a bottom like 1976? Something worth waiting for, that’s what it is. Full Story

By: David Coffin and Eric Coffin - 2 May, 2008

Last week, Ecuador joined the ranks of investor pariahs with its decision to put everything on hold in the mining sector for up to six months. Based on the full slate of proposals it’s likely a large number of the more junior explorers will be completely shut out of the country. Full Story

By: Douglas V. Gnazzo - 2 May, 2008

There is something definitely going on, and what it is ain’t exactly clear. How prophetic were those lines? Recently in the news there have been stories about food riots in different spots around the world. People are scared, people are hungry, people are suffering, and people are mad. So what’s going on? Full Story

By: Richard Daughty, The MOGAMBO GURU - 2 May, 2008

But after all of this, you suddenly realize that the money that was taxed away comes roaring back into the economy as government spending, making a mockery of the whole thing, and then there is inflation to consider… Full Story

By: Bill Bonner & The Daily Reckoning Crew - 1 May, 2008

-It may be May Day in Europe - but we keep on reckoning…surprise, surprise: the Fed lowered rates…
-Maybe instead of money, the government should send taxpayers free SUVs…
-Still more excitement ahead for the commodities markets - especially for gold…and more! Full Story

By: Adrian Ash, BullionVault - 1 May, 2008

'Buy the rumor, sell the news' applies to all markets. Not least when the Fed is committed to reflating housing and stocks... Full Story

By: Gary Dorsch, Editor, Global Money Trends - 1 May, 2008

The latest shake-out in silver and gold may have a little further to go, but for investors betting on higher commodity prices in the longer-term, fueled by strong Asian demand, explosive money supply growth, and negative interest rates in the United States, one should recall the advice of the London trading wizard Nathan Rothschild, “The time to buy is when the blood is running in the streets.” Full Story

By: Alf Field - 1 May, 2008

There is a strong probability that the correction in the gold market from the $1033 peak of 17 March 2008 is complete. This view is based on (i) the fact that the anticipated decline of 16% in this correction has been achieved and (ii) that all the minor waves required to complete the correction are now in place. Full Story

By: Bob Chapman, The International Forecaster - 1 May, 2008

For the benefit of our subscribers, we thought at this juncture that it would be a good idea to review some long-term elitist strategies that have been implemented by the Illuminati as part of their evil plan to destroy our economy and our sovereignty for purposes of moving us toward globalism, free trade and a one-world government. Full Story

By: Richard Daughty, The MOGAMBO GURU - 1 May, 2008

You can see how I am despondent and angry that I am the one who is wearing a stupid nametag that says 'Trainee' and getting hot grease spattered all over me, while they make the big money by being so freaking wrong! Full Story

By: Rick Ackerman, Rick's Picks - 1 May, 2008

The lunatics were out in full force yesterday when the alleged “news” hit concerning the Fed’s latest 25-basis-point cut. The Dow’s initial reaction was to rally 90 points, to a fleeting top at 13010. But second thoughts came on like a ton of bricks, causing a nearly 200-point selloff in the next 50 minutes. Full Story

By: - 30 April, 2008 Radio Gold Nugget Interview
CEO of Timmins Gold Corp.
Bruce Bragagnolo & Chris Waltzek Full Story

By: Bill Bonner & The Daily Reckoning Crew - 30 April, 2008

-The more Bernanke, e.t al wins - the more you lose…we can't delay this correction any longer…
-Every bubble eventually pops, losses are taken - and the rebuilding can finally begin…the dark cloud of the consumer economy…
-The correction in the housing market made its sharpest move ever in February…U.S. is doing exactly what they told Asia NOT to do…and more! Full Story

By: John Browne, Senior Market Strategist – Euro Pacific Capital - 30 April, 2008

Last week, a food shortage became an American reality. Costco Warehouse, Wal-Mart and other food stores limited the purchase of certain food staples in bulk form. Purchases of rice in California and of oil and flour in Queens were restricted. Customers were angry, voicing strong concern and questioning whether the situation would worsen. Full Story

By: Adrian Ash, BullionVault - 30 April, 2008

Is the foreign US bond-buyer now going on strike, just when the Treasury needs him to pay for tax rebates, investment bank bail-outs, and the first raft of post-Election housing aid...? Full Story

By: Axel Merk - 30 April, 2008

We are now importing inflation. This does not only apply to the cost of commodities, such as oil, but also to consumer goods imported from Asia. This is a newer trend as, in our analysis, Asia had been exporting deflation until the summer of 2006; since then, we have seen increased pricing power by Asian exporters. Full Story

By: Howard S. Katz - 30 April, 2008

At the present time, gold is holding at its April 1 low, and the central question is, will this low hold and set the stage for a rally above $1,000, or will the low break and lead to a more extensive decline? Probably the most important factor giving the answer to this is the fate of the U.S. dollar. Full Story

By: Michael Nystrom - 30 April, 2008

If the credit bubble has indeed burst, and Dr. Faber is correct that the economics are now changed for good, we are in for a massive deflation that will be reflected across all sectors of the economy for a long time. Full Story

By: Richard Daughty, The MOGAMBO GURU - 30 April, 2008

Total debt everywhere, like Old Man River, just keeps rolling along, like a snowball rolling downhill, getting bigger and bigger, which is such a strange mix of metaphors that I realize that I am completely confused and frightened. Full Story

By: Rick Ackerman, Rick's Picks - 30 April, 2008

From a Hidden Pivot perspective, one more sharp tug could damage bullion’s prospects for at least the next few weeks. Specifically, if the June contract were to slip beneath the labeled 860.00 low without an intervening rally from here of at least two days’ duration, it would create a bearish impulse leg of daily-chart degree. Full Story

By: James West - 29 April, 2008

Last week I wrote a piece forecasting $200 a barrel oil and $2,000 an ounce gold, and I gotta say, I’ve never seen that amount of mail generated by a single article in all my years as a writer. The top concern of the correspondents was, "How do I invest to protect against and capitalize on this eventual reality?" Full Story

By: Theodore Butler - 29 April, 2008

Over the past week, important news continued to develop in silver. Let me try to touch on some of it, before getting into today’s topic. There was the sharp sell-off in price, which occurred after the cut-off for the weekly Commitment of Traders Report (COT). It’s always difficult to pinpoint precise lows, in terms of price and time, but I am still of the mind that the sub $17 price level in silver represents great long-term value. Full Story

By: Bill Bonner & The Daily Reckoning Crew - 29 April, 2008

-When elected officials run out of money - trouble follows…the Vatican: always ready for a siege or a party…
-Where's Volcker when you need him…the likelihood of Greenspan becoming the Pope…
-Truckers protest high gas prices…the major difference between Rome and the U.S. - electronic transfers…and more! Full Story

By: Clif Droke - 29 April, 2008

Inflation has been investors’ main focus lately. A commonly held assumption is that the Fed’s aggressive lowering of interest rates will only result in more inflation and an even bigger bulge in commodities prices. Is this a necessary outcome of increased liquidity and lower rates? Full Story

By: Jason Hommel, Silver Stock Report - 29 April, 2008

Silver does not have gold's fundamentals, silver's are much better. With industry consuming more silver than is mined each year, any slight increase in investor demand for silver will continue to drive silver's prices upwards, and make a mockery of all of wall street and all they do and all they have to offer. Full Story

By: David Galland, Managing Director, Casey Research, LLC - 29 April, 2008

With few exceptions, as gold has approached each new psychological price barrier in the unfolding bull market, it has gingerly touched the barrier, fallen back and then traded in a fairly narrow range before decisively taking it out and moving on. Not unlike, perhaps, Napoleon’s army, with small skirmishes leading up to a full-scale assault and crushing victory. Full Story

By: Steven Saville, Speculative Investor - 29 April, 2008

Members of the deflation camp assert that the large-scale contraction of credit happening within the banking system means that deflation is upon us, even if the money supply is expanding. At the same time, another camp is pointing to the breathtakingly rapid growth in M3 money supply as evidence that hyperinflation is a near-term threat. In our opinion, both camps are wrong*. Full Story

By: Richard Daughty, The MOGAMBO GURU - 29 April, 2008

By how much is the Libor lending rate understated? Maybe as much as 0.3%, which doesn't sound like that much, but when you are talking about trillions and trillions of pounds and euros of debt, it adds up to a lot of money! Full Story

By: Rick Ackerman, Rick's Picks - 29 April, 2008

We’ve been bullish on the stock market in recent weeks, but not very. It’s hard to get worked up when you’re convinced, as we are, that the rally may be setting up stocks for a crash from even higher heights. Full Story

By: Mary Anne & Pamela Aden - 28 April, 2008

The year is still young, yet it’s seen many commodities soar. From the precious metals, to the base metals, like copper and tin, to raw materials, to energy, like oil and natural gas, to the soft commodities, like corn and wheat... the commodity bull market has been flexing its muscles. Full Story

By: Bill Bonner & The Daily Reckoning Crew - 28 April, 2008

-A trying market climate…just because a lot of mistakes have been made doesn't stop the authorities from making more…
-The Fed is trying to avoid painful decisions at all costs…the "recession diet" may help America's obesity problem…
-A peak in grain production…a very close look at a certain part of the male anatomy…and more! Full Story

By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 April, 2008

I have just returned from a 10-day trip to Southern China and Hong Kong. While I was there, I explored the Chinese attitude toward gold. If their demand for gold equaled that of other nation’s average individual holdings, then we would see their demand well into four figures. I wanted to know if the Chinese would really move towards gold in their portfolios. Full Story

By: Antal E. Fekete - 28 April, 2008

Wagner’s opera Gotterdämmerung is about the twighlight of pagan gods. The most powerful of the latter-day pagan gods that has been guiding the destinies of humanity for the past two-score of years is Irredeemable Debt. Before August 14, 1971, debts were obligations, and the word “bond” was to mean literally what it said: the opposite of freedom. The privilege of issuing debt had a countervailing responsibility: that of repayment. Full Story

By: Captain Hook, Treasure Chests - 28 April, 2008

In this regard you should remember our thoughts on the timing subject, where we are looking for a bottom in precious metals later this month as per the 1978 seasonal comparison (see Figure 3), or in May, where it should be noted trend changes in November / May tend to be important / lasting from a historical perspective within the context of the present bull market. Full Story

By: Michael Nystrom - 28 April, 2008

Once upon a time, corporations were subordinate to human people and to the state. State governments granted charters to corporations for specific functions, and shareholders were liable for the actions of the corporation. Those days are long gone. Full Story

By: Bob Chapman, The International Forecaster - 28 April, 2008

Caligula remains in denial as the barbarians storm the gates of Rome. Perhaps he actually even believes some of the tripe emanating from the fane-stream media and pundits as well as from the Bureau of Lying (Labor) Statistics. Full Story

By: Clif Droke - 28 April, 2008

The problem is that when Greenspan was Fed chairman he had no policy to adhere to and that's why his monetary "policy" was all over the place. He created a tumultuous rollercoaster ride for the financial markets and the economy, amplifying the business cycle many times worse than it had to be. Full Story

By: Douglas V. Gnazzo - 28 April, 2008

The bottom line is that this correction in the precious metals was needed and is a sign of “normal” market action and behavior. The late comers are getting shaken out as gold and silver and the shares move from weak hands to strong hands. It’s what markets do – it isn’t supposed to be easy. Full Story

By: Warren Bevan - 28 April, 2008

Seasonally a week or less should go by before we see a strong move up in Gold. I fully expect $1,000 to be bested again in the next month and a half. Whether Gold can hold that level, time will tell but that mark will be ground where a battle of titanic proportions is going to take place, so enjoy the show. This is history. Full Story

By: - 27 April, 2008

1st Hour:
Headline news & market forecast.
Spotlight Picks with big dividends.
The International Forecaster and Chris Waltzek answer listener questions.
2nd Hour:
Jim Sinclair Full Story

By: Clive Maund - 27 April, 2008

The United States is desperately sick economically, with an economy lamed by gargantuan debt, outsourcing and rampant speculation, and yet somehow it manages to spend more on its military machine than every other country in the world combined. Full Story

By: Larry LaBorde - 27 April, 2008

Last Friday night the lovely Miss Puddy accompanied me on our usual Friday night outing to the movies. Even though we were out of town we managed to make our weekly trip to the cinema. We chose Ben Stein’s new movie, “Expelled”. In it Mr. Stein talks of the politically correct sanitizing of the “Intelligent Design” theory over Darwinism. Full Story

By: John Mauldin, Millenium Wave Advisors - 27 April, 2008

The late and great Milton Friedman told us that inflation is always and everywhere a monetary phenomenon. But there is an asterisk to his equation that we need to examine, namely, the velocity of money. Full Story

By: Nadeem Walayat - 27 April, 2008

The food riots across the world illustrate the degree to which the world is seeing a shift from cheap food to the early stages of a mega trend in the agricultural sectors that is set to continue for many years. This impact is not just limited to the developing world but people in the developed world have seen their food costs soar by as much as 50% over the last 12months. Full Story

By: Richard Daughty, The MOGAMBO GURU - 27 April, 2008

This is the basis of the new Mogambo Diet Plan (MDP), and you can see how that kind of 'kiss your own nasty butt goodbye because you are going to die' news, delivered in a constant, shrill, high-decibel voice would make you lose weight! Full Story

By: Rick Ackerman, Rick's Picks - 27 April, 2008

We can’t recall the last time we even looked at a trendline, but our friend Peter Eliades mentioned the one below in his latest update, and we just had to see it for ourselves. As it happens, the bullish implications of this graph are somewhat aligned with our own, mechanically bullish, ideas at the moment. Full Story

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