In the next month China and Japan (China’s main trading partner) will no longer use the U.S. dollar as the only currency in trade with each other. They will use the Yuan and the Yen directly with each other. This will see the dollar removed from a large chunk of the world’s trade –in itself, not a very large percentage, but a significant one. It’s the start of a trend that is set to grow. Full Story
Many people became convinced that data releases earlier this year indicated that "recovery" in the U.S. was imminent. But as I have been saying for months, this evidence would ultimately be shown to be as reliable as sightings of Bigfoot. Lots of people claim to say they have seen it, some even produce plaster footprints, but in the end all we have is a guy in an ape suit. The economic recovery, that has been discussed so loudly and often in recent months, will be shown to be similarly mythical. Full Story
On the heels of Fitch's sovereign credit downgrade to A plus (the fifth-highest investment grade), Japan's government debt continues to swell. With its debt at over 200% of its GDP, the Land of the Rising Sun appears to be embarking on a trek into the debt-laden unknown. Full Story
Is gold preparing for another shot up to $2,500/ounce heights or on the way down after being overbought? In this exclusive interview with The Gold Report, two respected names in the investing world share their arguments for what could happen in the coming years and how to profit from it. Financial Adviser Peter Grandich predicts a lot more upside while AlphaNorth Asset Management Chief Investment Officer Steve Palmer has a more cautious outlook on the shiny metal. Where are you putting your money? Full Story
Once in a long while we as investors are given a glimpse, a window into the future. How can there be any doubt that access to clean fresh water for drinking, sanitation and crop irrigation is going to become the one overriding concern for billions of people? Potash and uranium are going to become overriding dominant investment sectors. For this reason potash and uranium should be on every persons radar screen. Are they on yours? Full Story
Legendary Dow Theory Letters Writer Richard Russell issued a big bear warning May 27. In a special early alert for his subscribers, he announced that his analysis of the April to May activity on the Dow Jones Industrials showed the continuation of a primary bear market that started on October 9, 2007. "We are now dealing with the latter part of the primary bear market. . .subscribers should now follow a course of utmost caution," he said. Full Story
Quite unexpectedly, except perhaps among a handful of long-time gold advocates, gold is quietly and gradually moving back to its centerpiece role in international reserves. Stretched and threatened financially, nation states have begun accumulating gold for the same reason private individuals do -- as portfolio insurance to cover a wide assortment of economic uncertainties. Full Story
It wasn’t long ago that global gold-mine production had fallen to alarming lows. In 2008 this bellwether supply source was on the heels of a 5-year 13% decline, offering the markets its lowest output in 12 years. And this precipitous plunge had left folks scratching their heads considering gold demand was on the rise and its price was entrenched in a powerful secular bull. Full Story
No surprise that The Cartel (Note 1) of Central Bankers continues to pump more Q.E. into the Financial System to preserve the Mega-Banks’ Power and Profits. Once The Cartel Bankers begin QE (i.e., Fiat Money Printing) they can’t stop. The problem is, Infinite Q.E. – The Biggest One – is ultimately a Recipe for Disaster for Citizens and Investor-Citizens alike since it eventually creates Dangerous Price Inflation. Full Story
As you can see in the chart, trading inside the triangle was subject to randomness. I strongly believe any trades on direction were guessing. Patience is always worth the wait for an explosive pattern to develop in regards to trading opportunities. There was nothing random about the breakout from the constricting balance area/triangle on the one hour chart (left hand side). Full Story
The gold standard, under which any holder of paper dollars could redeem them for gold at the US Treasury, is now within the living memory of just a few million Americans, nearly all of whom would be dangerous behind the wheel. But thanks to the money printing and the federal deficits that have grown to astounding scales since 2008, and thanks also to the clashing pronouncements of Ron Paul and Ben Bernanke, the idea of a gold standard has resurfaced in the public's consciousness. Full Story
In case you missed it, Spain just gave the entire world a glimpse of what’s happening “behind the scenes” in the financial system. I am of course referring to the Bankia nationalization, the largest bank nationalization in Spain’s history. Bankia was formed in 2010 when the Spanish Government merged seven insolvent cajas So it’s no surprise that Bankia was a trainwreck waiting to happen… at least to anyone with a working brain. Full Story
From my point of view, nothing has changed that has impacted gold in a bullish manner since my last report. Over the past few months I have continually pointed out that news events and financial data that some, not me, might have expected to have a bullish impact on gold simply hasn’t done so. That continues today. Full Story
"ONCE PEOPLE decide that German and US bonds are not such a great store of value," said one BullionVault user I spoke to last week, "the rush to find parking spots in a very small car-park will be on." Pending a rush to buy gold or silver however, that same fight for parking spots continues inside the government bond market. French, Dutch, Austrian and Finnish government debt just got annexed as the latest scrap of waste-ground for global capital to park its Mercedes. Full Story
Here we go again. Back in July 2011 we wrote an article entitled"The Real Banking Crisis" where we discussed the increasing instability of the Eurozone banks suffering from depositor bank runs. Since that time (and two LTRO infusions and numerous bailouts later), Eurozone banks, as represented by the Euro Stoxx Banks Index, have fallen more than 50% from their July 2011 levels and are now in the midst of yet another breakdown led by the abysmal situation currently unfolding in Greece and Spain. Full Story
There is a balance area tightening in the smaller degree 1 hour timeframe over the past two weeks. This demands my attention normally, but since we are on major support of a "Descending Triangle" that has potentially lethal ramifications to the price of gold I am on high alert for extraordinary trading opportunities. Full Story
In the United States, shale gas production will keep gas prices low for years. Even a decline in stockpiles will do little to help – if prices climb, producers will return to their shut-in wells, and supplies will ramp up again. The massive volumes of natural gas sitting on reserve books across the continent simply will not let prices rise very much for a long time. Full Story
By: The Gold Report and Robert Cohen - 30 May, 2012
The market is like a kid that can only ride a bike with training wheels on it, according to Robert Cohen of GCIC Ltd. As portfolio manager of the Dynamic Precious Metals Fund and the Dynamic Strategic Gold Class Fund (sold in Canada) and the Dynamic Gold & Precious Metals Fund (sold in the U.S.), Cohen is expecting a new set of training wheels in the form of a third round of quantitative easing. In this exclusive interview with The Gold Report, Cohen suggests that, as fear among investors continues to drive down stock prices, the market is now primed for patient accumulation. Full Story
John Embry of Sprott Asset Management is really getting around today, elaborating for King World News on the "massive manipulation and interference" in the gold market. "They knock gold down when it obviously should be going higher," Embry says, echoing GATA's long-running complaint about the counterintuitive moves in the gold price. Full Story
Much discussion and consternation surrounding a silver manipulation conspiracy led by JP Morgan (acting as an agent for the Fed, et al) has been circulating within the 'gold community' for sometime now, but more recently, it, along with everything else the banking cartel does to suppress precious metals, has become more than just 'paranoid hogwash' to increasing factions of the mainstream. Full Story
Regarding the U.S. dollar, we consider the more dovish FOMC voting member composition to be a negative for the currency, as it will likely lead to more expansionary policies relative to global central bank counterparts. In our view, the aforementioned debt ceiling debacle is just one increment in the ongoing marginal deterioration of the U.S.’s safe haven status; concurrent degradation to the long-term sustainability of the U.S.’s fiscal situation may ultimately erode confidence that the U.S. will honor its future obligations. Importantly, we do not doubt these obligations will be fulfilled, but the manner in which they are likely to be fulfilled gives us grave cause for concern. Full Story
During those years I saw reasons for Gold ownership change from diversification, to speculation, to being an inflation hedge, and a safe haven investment numerous times. However, until now I have not seen sizeable purchasing of Gold from the World’s Central Banks, as a replacement for the U.S. Dollar and Euros, being held as part of their national reserves. That’s just part of the extraordinary fundamentals that make the current price of Gold look like the buy of the century. Let me share these fundamentals with you. Full Story
There is a lot of lopsidedly-bullish analysis on China in the mainstream press and in the "blogosphere". Less so today than two years ago, but still enough to suggest that China's problems are not generally understood. To do our bit to counter-balance the aforementioned bullish analysis, here is a list of 14 reasons to be a China bear: Full Story
Are capital controls coming to the United States? They may be for Switzerland, The Swiss National Bank has announced that it is considering the imposition of controls. But these will be controls on euro accounts being shifted into Swiss francs. Why would a central bank impose controls on money flowing in? Because this will raise the market price of francs in relation to euros. The central bank is dominated by mercantilist thinking. A rising currency is seen as a liability. Why? Because exporters are hit by the falling value of the foreign currency. Foreigners must pay more to buy francs to buy Swiss goods. Full Story
Gary North is an icon in the Austro-libertarian world, and writes more in a day than most will write in their lifetimes. The majority of what he says is excellent and it is well worth your time listening to whatever he has to say. In his recent article, entitled, "Why We Are Not On The Road to Serfdom", he takes a slightly different perspective than TDV on the state of liberty in the USSA. Full Story
Gold prices may have fallen out of bed over the past four months. But gold as a currency is gaining ground as gold reserves are increasingly being allocated a more important role in the coming new economic order. Full Story
Glancing at the news most days, it's hard not to feel like Bill Murray's character in Groundhog Day. In the event you are unfamiliar with the movie, in it Murray's character becomes trapped in the same day… day after day. Full Story
SO "HEDGE FUNDS find ways to trade Euro misery," according to a Reuters headline. And with no hint of irony, the newswire includes gold in its list. Haw! "Greenlight Capital's David Einhorn recently said he is bullish on gold and gold miners, in part because of concern about the fallout from a Eurozone meltdown," Reuters goes on. Yet the Eurozone meltdown, to date, has done nothing for gold investing but show it up as a failed "safe haven" – a has-been, a fraud, a charlatan. Full Story
Do you feel comfortable and in control of the markets, or are they in control of you? Please click here now. You are looking at a very basic chart of the Dow Jones Industrial Average. It’s a weekly chart that shows the RSI indicator is falling. MACD is on a sell signal. Rather than wondering if the Dow might crash, simply prepare yourself to buy it inside the crash zone. The dividend yield on the Dow is currently around 4%. Getting paid 4% a year to wait for quasi-hyperinflation that could send the Dow skywards is a fairly good deal. Full Story
It is likely that the confidence in the U.S. dollar will turn out to be medium-term-lived. It won’t be too long before the people will turn to the tried and true source of true wealth preservation—gold. Global economic turmoil is likely to continue over the next few years as we lurch from one economic crisis to the next and gold will be the beneficiary of this. We have no doubt for the long term. Those who invest in gold for long-term wealth preservation don’t feel the bumps as much along the way. Full Story
I was recently in a spirited conversation with a small crowd of people about how my Stupid Mogambo Advice (SMA) to buy gold, silver and oil has not been working very well recently, and various theories were advanced as to why that should be the case. Full Story
One way or another, the monetary authorities will resort to printing more money or other forms of easing to prop the economy up, since more paper money will be needed to keep it going as long as consumers have confidence in the purchasing power of currency. This is one factor that fuels investment demand for the major commodities and keeps the bids firmly supporting the silver market. Full Story
We recently featured a guest commentary from Gary Leibowitz, a frequent contributor to the Rick’s Picks forum. In the essay below, he explains why, despite Europe’s financial troubles and signs of a global economic slowdown, a perfect storm of positive factors is likely to produce a final hurrah for stocks. Don’t hold onto them for too long, though, says Gary, because 2013 is going to bring disaster for most investors. Full Story
Featured Guests: Peter Spina: President Goldseek / Silverseek.com; Ryan Sharp: President / CEO Huldra Silver; John Williams: Shadowstats.com. Full Story
Two weeks ago we proclaimed a major bottom could be imminent in the precious metals sector. Our basis for making the prediction was that the metals and shares were extremely oversold, breadth indicators were at 2008 levels, sentiment was contrarian bullish and markets were nearing areas of strong support. In this missive we review the compelling evidence for this important bottom and discuss the potential fundamental driving forces for the start of the next cyclical bull market in this sector. Full Story
Recent angst among analysts, pundits, mavens, gurus, savants, wizards, and other assorted talking heads has China plummeting toward a “hard landing”. These views in combination with the on-going and never-ending worry over the Euro, the currency without a country, have weighed heavily on the entire resource market since the first of May. Full Story
It is simply hard to tear your eyes away from the slow-motion train wreck that is Europe. Historians will be writing about this moment in time for centuries, and with an ever-present media we see it unfold before our eyes. And yes, we need to tear our gaze away from Europe and look around at what is happening in the rest of the world. There is about to be an eerily near-simultaneous ending to the quantitative easing by the four major central banks while global growth is slowing down. And so, while the future of Europe is up for grabs, the true danger to global markets and growth may be elsewhere. But, let’s do start with the seemingly obligatory tour of Europe. Full Story
UNLIKE PRINGLES tasty potato snacks, quantitative easing doesn't come with a resealable lid. So the famous sales line is only more true for central bankers: "Once you pop, you can't stop!" Full Story
Gold and silver began a correction nine months ago, but shares of the mines that produce these valuable metals have suffered in a much more exaggerated fashion. Mine2Capital Co-Founder and Partner Alka Singh has prospected for ideas that she believes will maximize shareholder value when the markets turn upward in the relatively near future. In this exclusive interview with The Gold Report, Singh delivers her best junior ideas. Full Story
We’re still up in the air as to what is going to pass in Europe but perhaps this week we will see. Markets are looking very bearish right now and the only thing that can save them would be another QE announcement which I have an eery feeling will come. Full Story
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