By: Bill Bonner & The Daily Reckoning Crew - 1 June, 2007
-Post-nups gaining popularity in the financial industry...know the price of everything and the value of nothing... -As asset prices go up, economic growth slows down...can we farm-raise financial independence? -The Agora Financial Reserve opens its doors again...preparing for a 'soft landing' in India...and more! Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 1 June, 2007
As a steady stream of bad U.S. economic news accumulates, one wonders when the stock market will finally take notice. After years of highly effective spin coming from Washington and Wall Street, stock investors must re-learn how to recognize bad news, and to stop making lemonade out of every economic lemon that comes their way. Full Story
By: Roland Watson, The Silver Analyst - 1 June, 2007
Back in the depression year of 1932 silver was suffering. It had hit a low price of 24 cents per troy ounce as the forces of deflation assaulted commodities across the board. Could things get any worse as no end seemed in sight to the widespread massacre of assets across America and the world? Full Story
The U.S. continues to be trapped on the horns of a dilemma, wedged squarely between a rock and a hard place. Raise interest rates to head off a devastating mass exodus from the dollar and sink the economy… or, lower interest rates to keep the economy afloat and doom the dollar. Full Story
While it may be true that world-wide financial instability has caused an increase in monetary nationalism, although the proposition is arguable at best, the belief that nation states should be in control of their own currencies has existed for thousands of years, predating the time of Christ and the Roman Empire that came before. Full Story
Let’s face it, our planet is facing an energy crisis. If nothing is done to reduce our dependence on crude oil and if the human race is unable to find a viable alternative source of energy, the 1970’s oil-shocks will look like a picnic! Most people remain oblivious to the fact that the supply of oil is struggling to keep up with rising global demand. And when you factor in the reality that over 60% of the world’s top oil-producing nations are already past their peak output, the picture starts to cause some alarm. Full Story
The devastation and financial ruin suffered by most of the economically advanced countries during World War II left one country particularly well-positioned as a safe repository for mobile wealth and intellect. With its intact cities and factories, laissez-faire economic system, vast manpower and growing financial strength, the U.S. came out of the war a very powerful force. Full Story
Anyone wanting to bet on a cheaper Dollar – or simply hedge themselves against the grinding decline in all currency values – might do well to avoid Euros, Sterling and Yen. Gold remains the only world currency not open to debasement, competitive devaluation, or the excessive promises of overspent governments. And at $666 per ounce on average right now, it also remains within spitting distance of the highs for this bull market so far. Full Story
By: Congressman Ron Paul & The Daily Reckoning Crew - 31 May, 2007
-The curse of living in interesting times…all paper money ends up as decoration… -Trophies from a monetary safari…the market is an unpredictable, headstrong beast… -Our dear readers prove to be smarter than us yet again…Ron Paul on FOX News…and more! Full Story
I've said it before and I'll say it again: As long as there is no gold standard — nothing and no one to hold back politicians from spending money and creating debt at will — then the value of the U.S. dollar will keep plummeting and inflation will keep rising. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 31 May, 2007
I know this subject probably gets boring to hear about, but it is still at the top of the charts so it deserves coverage. We are talking about uranium of course. But what about gold? Everyone is panicking over gold and I can tell by the emails I receive that many are wringing their hands in worry and anxiety. Do I know what gold will do tomorrow? Yes, I do. It will do what it wishes to do regardless of projections from optimists or the dooms day club. Full Story
Will the world gold market – humanity, who has been saving gold forever – change its mind about gold as a wise investment? Will fiddling with the price of gold in New York, make the world change its mind about the wisdom of owning gold? As the world is swimming in fiat money creation, will gold savers change their minds and stop buying gold? Will hammering the price make the world gold market change its mind about gold, or will it just make gold cheaper to acquire for the millions that want to own it? Full Story
By: Richard Daughty, The MOGAMBO GURU - 31 May, 2007
Up to now, the price inflation was the 'fun' kind, as it went into stocks, bonds, housing…Now inflation is showing up in the "not fun" category, namely food and stuff you have to buy just to stay alive. Full Story
Will America’s eventual collapse into economic depression have to wait until China’s genuinely booming economy goes over the edge? If there is a bullish case to be made for U.S. stocks over the next 12-18 months, that’s it: China is the fat lady this time, and her final aria is still one act removed from the world’s economic finale. Full Story
By: Bob Chapman, The International Forecaster - 30 May, 2007
Despite the best efforts of the central banks the gold price is relentlessly moving higher. Yes, we had a correction but we believe it is over. The fundamentals are just overwhelming. We should see $700 broken again soon and then a move to $850. The dollar is about to test 80 on the USDX in the next down draft, probably due to higher official and real interest rates worldwide. The collapse in the subprime and ALT-A mortgages are about to be followed by the prices on the upper end of the price scale and that will threaten the collateralized debt obligations (CDO’s) of which 65% are held by hedge funds. Once the dominos begin to fall the house comes down. Full Story
By: Dr. Hans Sennholz & The Daily Reckoning Crew - 30 May, 2007
-In shock and awe of the Great Big Bucking Bubble…college dropouts head for the stock market… -A valuable lesson for green young investors…China cranes its neck toward the steel industry… -What's more important: eating or paying your mortgage?…a message from our friend Ron Paul…and more! Full Story
If it was not before, it should now be more than abundantly clear that we have not been getting a straight line of goods about this whole sordid affair. This should be raising additional DISTURBING questions – some of which should probe the INACTION of REGULATORS and others should delve into exactly what role J.P. Morgan Chase played in this outcome. Full Story
For people who have read about the Federal Reserve System’s monopolistic power over the economy, it is frustrating to imagine that the voters can do nothing. Trust me: the voters can do nothing. Most voters have not heard of the FED, do not understand central banking, and do not have allies in Congress, other than Ron Paul. Full Story
While doing research in the Library of the University of Chicago in the early 1980’s I came across the unfinished manuscript of a book with the title: The Dollar: An Agonizing Reappraisal. It was written in the year 1965. It has never been published (although it has received private circulation). The author, monetary scientist Melchior Palyi, a native of Hungary, died before he could finish it. Monetary events started to spin out of control in 1965, culminating in the default on the international gold obligations of the United States of America six years later in August,1971. Full Story
Investing in paper equities has apparently become far easier. Either a stock will be taken private by a speculative investment fund or it will be purchased with money from China's foreign currency reserves. Investment gains have rarely been so assured. Not since internet stock bubble or Florida condo mania have investors faced such odds of winning. Combine those odds with a Federal Reserve dwelling in the la la land of core inflation creates a near perfect story for placing wealth into paper equities. How can it go wrong this time? Full Story
Pardon the pun but the price of uranium is going nuclear. It has risen fivefold says the Mail today. In January 2005 it was trading at $20 a pound, this Monday it reached $125 a pound. How so? Well, its all coming together now for the nuclear industry. With climate change and energy security at top of the agenda, the world is warming to nuclear power and adding capacity. Full Story
Last week, while at the U2007 Global Uranium Symposium, I visited three uranium projects. Two were on the conference agenda, one I was lucky to attend on a smaller, private tour. These tours taught me a lot about a particular type of uranium mining — one that will likely become the future face of uranium mining in the U.S. Full Story
In last week’s article, The Raptors, I described how that term applied to the smaller commercials that seemed to be outmaneuvering the largest commercial traders which I dubbed the T. Rexs. I speculated that the T. Rex commercials looked increasingly trapped in their massive concentrated net short position, and how this might portend profoundly bullish implications for the silver market. My reasoning centered on this increased dealer competition as an indicator that the long-term manipulation in silver might be on its last legs. Full Story
By: Paul M. Airasian, editor, GoldInstitute.net - 30 May, 2007
This is a world where “change” is hailed as progress, even when it throws our values into reverse and we go backwards. So, even if a future monetary crisis seems like a wake-up call to you, don’t expect the “mess media” to report that we allowed the backward reasoning of supposedly forward-thinking politicians to implement policies that weakened our economy and our nation’s independence. Full Story
In light of fundamental changes in the bond market where the yield curve (TNX-IRX ratio) has finally turned up after three years locked in a down trend, one might watch for changes in asset markets that have been on auto-pilot during that same stretch. We are of course talking about the stock market, commodities and even 'counter cyclical' gold which got caught up in the hysteria. Full Story
By: Addison Wiggin & The Daily Reckoning Crew - 29 May, 2007
-Addicted to thinking…people who don't like to die in pointless battles… -On a train in the middle of nowhere…French soldiers fighting for Germany… -Believing the most cartoon-like version of the narrative…skewering the price upward…and more! Full Story
By: Steven Saville, Speculative Investor - 29 May, 2007
In our opinion is it unreasonable to hinge a long-term bullish view on any investment on positive changes in NOMINAL prices because it's the REAL performance of an investment, not its nominal performance that matters. After all, if the central bank sponsors sufficient money-supply growth (inflation) then the resultant fall in the relative value of money may very well lead to large gains in the nominal prices of most investments. Full Story
When it comes to fears about major corrections in the world’s markets, October is usually the month people look out for, thanks to its association with a couple of history’s great crashes. When it comes to resource stocks however, October doesn’t hold a candle to May. The phrase “sell in May and go away” has been a warning to the unwary for years. Full Story
One of the great fears plaguing resource stock investors is what will happen if the broad market suddenly goes into the tank. This fear is quite justified as resource stocks, in particular gold and silver stocks, have generally performed poorly in comparison with the general stock market over the past year, and every time the broad market shows signs of weakness, they have dropped sharply, a good example being last Thursday. Full Story
Making economic predictions has always been a popular pastime, and never so more than today. We all fancy ourselves armchair economists, and why not, with the stakes higher than ever. Our very livelihoods are to a large extent tied up in the future direction of the economy. With so much at stake now and in the year ahead, the topic of economic growth has never been more relevant. Full Story
Implications for Gold: A rising Oil price and a falling Stock Market would be a heady cocktail for investors. Inflation would be undeniable and the prospect of money printing to stem a falling market would be huge. Gold has a promising future indeed! Full Story
Kevin Kerr The Dow Jones Industrials cools off. North Korea launches test missiles. China trade talks. 3 Spotlight Picks with big dividends! Full Story
By: The Mogambo Guru & The Daily Reckoning Crew - 28 May, 2007
-There is always something to be reckoned with…remembering the patriotic narrative… -Running through briars and brambles…$100 million in spare change for investment… -A holiday a week in May…we know how to bring Detroit back from the dead - sell it to China…and more! Full Story
By: Bob Chapman, The International Forecaster - 28 May, 2007
In the last ten weeks ECB central banks have sold 130 tons of gold. This is the most ever in any short time period. In the previous six months they sold only 112 tons. That leaves 250 tons left for sale by 9/30/07. We do not expect Germany and Belgium to be sellers, so that leaves about 140 tons to go over four months or about 35 tons a month. The bad news is behind us. It is possible that France could complete part of Germany’s unused quota, but that is a long shot. Full Story
By: John Mauldin, Millenium Wave Advisors - 28 May, 2007
This week we look at the US mortgage market to see what fallout there is from the subprime mortgage woes. It is both less of a problem and/or more of a problem, depending on your perspective, as I predicted it would be last year. Score one for your analyst, which said score is needed as the stock market continues to rise in spite of my concerns in the face of a slowing economy. Full Story
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