Vancouver was a blast. Even coming from San Diego, there just isn’t anything that quite matches Vancouver in the summertime. It was tough leaving it behind this weekend. We went up there last Monday to get ready for the Sprott Vancouver Natural Resource Symposium, which kicked off Tuesday evening and went through Friday. Full Story
Ignore the hype regarding gold, bonds, booms and busts, hope and chains, “shock and awe,” stock market crashes, “money honey” commentary, and ignore the politicians. Don’t obsess over High-Frequency-Trading and market manipulation. Instead, focus on the big picture as shown in the following chart of monthly gold, which has been divided into 3 phases since 1971. Full Story
Let me start the proceedings with this — a repast on the nature of the human predicament 2014. Below is a follow-up to Richard Russell’s stated concerns (scroll below) on the persistence of war and inflation in human affairs. I do not bring this line of thinking to your attention to disturb your comfort level, but to make you aware that there is more going on than the panoply of misdirection afforded us by the mainstream media. (Today’s somewhat mysterious 300 point + drop in the DJIA might be trying to tell us something. Stocks are now level for the year. Gold is up over 6.5%.) Full Story
Main Stream Media Distortions and News Blackouts coupled with Bogus Economic Numbers and “Communications Policy” Distortions from the U.S., European and Chinese Central Banks, and others Misleads Investors and puts their Investments at Risk. Full Story
This is good news for both equities and bullion. When miners are doing well, gold tends to follow suit. Indeed, since the beginning of the year, spot gold has seen steady growth following a lackluster 2013. As I noted earlier in the month, it’s been one of the best-performing commodities of the year so far, a mere nugget’s throw behind nickel and palladium. Full Story
All modern currencies are fiat. The numeraire of the moment floats in a cesspool of policy designed for management and intervention. Money and value become hollowed out concepts. The eventual return to a sound relationship between human productivity and the value of money will be unloved, to say the least. Full Story
June’s FMQ components have now been released by the St Louis Fed, and it stands at a record $13.132 trillion. As can be seen in the chart above, it is $5.48 trillion more than an extension of the pre-Lehman crisis exponential growth trend. At this point readers not familiar with the construction of FMQ and its purpose may wish to refer to the original paper, here. Full Story
I don’t normally write twice in a day. However, it’s late Thursday afternoon and after watching what could be the “beginning of the end” of three-plus years of money printing, market manipulating, propagandizing infamy, the title of a recent article continues to reverberate throughout my head. Full Story
The contributors are many as actors in the American Tragedy, to cause the systemic breakdown failed state. Faulty monetary policy, economic policy, and political policy have caused the resulting failure. The primary perpetrators are the central bankers, led by Greenspan and Bernanke. These two men have done more to destroy the USEconomy, the US financial structure, the US currency, than any two men of prominence. To be sure, the Bush, Clinton, and Rubin gang played a huge role in the collapse. Their supporting cast of destructive actors is very long, like the serial bank criminals residing on Wall Street. Full Story
There is an ongoing debate as to whether or not there is manipulation in the gold and silver markets. Further, there is also a debate as to whether or not ALL markets are manipulated. Why is this important? Does it matter one way or the other? I will concentrate on the “why” it is important for gold and silver, I imagine that you can discern “why” it would be important if all markets were manipulated. Full Story
The higher trend in the Dollar is at hand, even with US interest rates staying flat. A number of key foreign currency support levels versus the Dollar have been broken. The Eurocurrency has broken the 1.34 level. The Yen has broken to the lower end of its trading band, the .9700 level. The British Pound has lost its way and is no longer in the bull camp. The New Zealand Dollar moved from a low of .8393 in June up to .8784 this month. Prices are now backing down to the .8400 price level. Full Story
Sprott USA Chairman Rick Rule chats with Cambridge House Live anchor Vanessa Collette about a range of issues to investors, including great buys in the resource sector right now (uranium), "serially successful" miners he follows (Robert Friedland & the Lundin family), and how he evaluates companies (people, people, people!). Excellent advice for any serious investor. Full Story
This is part II of IV of Useful Idiots and The Something for Nothing Society. In part I, we covered the beginning of the evolution from a capitalist constitutional republic during Teddy Roosevelt’s presidency a century ago into the progressive socialist state we have become today. This transformation has taken over a century and has been implemented in such an incremental manner as to be mostly imperceptible to the public at large. Full Story
What is hard about investing? It's not the simple mechanics of investing. Nowadays if you have the money, it's easy to open an online trading account and start trading. You don't even have to talk to anyone usually, just mail in a check to the broker and off you go. So the HOW or mechanics of investing is not hard. Full Story
The Powers That Be in the US and its allies seem to be committed to keeping the price of gold below $1320US/oz. Is the US control of the price of gold bad for China? It would appear that since China is purchasing large amounts of gold, keeping the price from rising is in the interest of the Chinese. Is the US control of the price of gold bad for Russia? It would appear that Russia has no urgent reason to see a higher price of gold. Full Story
You're probably something of an expert in your own field—and that field probably isn't insurance or annuities. How, then, can you work through the minefield of clauses, guarantees, and pages of small print? Here are nine ways to start. Full Story
The asset relationships we have focused on over the past several weeks, is showing patterned replication in its leading proxy (precious metals miners) - just as the other lagging sectors look to begin making their respective pivots. Full Story
In their infinity wisdom the Fed thinks they have rescued the economy by inflating asset prices and creating a so called "wealth affect". In reality they have created the conditions for the next Great Depression. Over the last two years the Fed has increasingly intervened in the market to prevent normal corrective moves. As you can see in the chart below this has allowed the stock market to transition from what could've been a normal bull market into a gigantic parabolic bubble. Full Story
Vanessa Collette: Welcome to Cambridge House Live. I’m Vanessa Collette here at the Sprott Symposium–I’m joined by Frank Holmes, CEO and Chief Investment Strategist at US Global Investors which also trades on the NASDAQ under the symbol GROW. Welcome Frank , nice to see you again. Full Story
By: Steve Saville, The Speculative Investor - 30 July, 2014
It seems that Keynes understood the problems wrought by policies designed to debauch (devalue) the currency, but such understanding is nowhere to be seen among his modern-day followers. Instead, the modicum of sense contained in the writings of Keynes has been discarded by the Keynesians of today in favour of a total focus on "aggregate demand". Full Story
By: Richard Daughty, The Mogambu Guru - 30 July, 2014
I now belatedly realize, with crystal clarity, that being an “inert carbon blob” is a reachable goal for me. Thus, ‘tis my new plan for my remaining retirement years, since it has no age restrictions, takes no effort, and has zero cost, but, happily, does involve a lot of TV and tasty snacks. Full Story
Greg Johnson, the President & CEO of Wellgreen Platinum, chats with Cambridge House Live anchor Vanessa Collette about the accelerating pace of Wellgreen's activities as the company develops a massive platinum discovery in the Yukon. A must-see for serious investors. Full Story
In this exclusive interview, Eric Sprott answers questions from our followers regarding the impact of geopolitical events, supply and demand data, manipulation, and the silver fix on precious metals prices. Full Story
On July 13, gold was still around $1,340 per ounce. Since last Monday, gold has suffered a big drop, falling as low as $1,293 in a few days. Many blame the decline on hawkish comments from the Fed’s Janet Yellen, who recently suggested the Fed could raise interest rates. “Higher interest rates would encourage investors to switch to assets that, unlike gold, pay interest,” said the news service Reuters1. Full Story
Which song would best describe the current state of the global gold market? Perhaps it would be,“Good Times Roll”, by the 1970s rock band “The Cars”. During the first six months of 2014, there have been quite a number of events that are positive for the gold market, and there was a big one yesterday. Full Story
If gold were to resume its long-term rise vs. commodities it would very likely be against a deflationary backdrop, which would feature economic contraction. In other words, it would come against the failure of policy makers’ most recent operations that were enacted in response to the last crises, namely the ‘Financial Crisis’ that people in the US now speak of in the past tense and the ‘Euro Crisis’ that I assume (with Spanish 10 year bond yields are at an incredible low of 2.54%) an increasing number of Europeans came to consider a thing of the past. Full Story
By: Laurynas Vegys, Research Analyst - 29 July, 2014
Sometimes I see an important economic or geopolitical event in screaming headlines and think: “That’s bullish for gold.” Or: “That’s bad news for copper.” But then metals prices move in the opposite direction from the one I was expecting. Doug Casey always tells us not to worry about the short-term fluctuations, but it’s still frustrating, and I find myself wondering why the price moved the way it did. Full Story
Over 40 years of silver prices can be represented by four zones of megaphone shaped price patterns. My interpretation is that zone 4 – a long and aggressive move upward – is still in progress. My round number target is $100 or more in 2016 – 2019. Although I hope that the powers-that-be will not choose to create hyperinflation in the US, if hyperinflation does occur, the $100 target will be easily bypassed and much higher prices will be “in play.” Full Story
Let’s assume that we will indeed get a rate hike next year, and that the Fed will have figured out how to implement it. We may get our exit all right, but it’s not the sort of exit most appear to be expecting. That’s because in our humble view, an “exit” ought to reflect a path towards normalization, away from financial repression, back to an environment where pensioners might once again be able to live off income generated from their savings. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 29 July, 2014
Acknowledging that the usefulness of technical analysis is increasingly doubted as market manipulation intensifies, newsletter writer and technical analyst Tim W. Wood notes today that manipulation is as old as markets themselves and quotes various authorities to the effect that manipulation cannot long defeat any market's "primary trend." Full Story
No sooner had gold taken a back seat to the soaring stock market, when it did an about face! Tensions in the Middle East and Ukraine pushed gold up. The Fed then fueled the rise by again affirming a low interest rate policy. But a firmer dollar and better economic news then put downward pressure on the metals again. We’ve felt that 2014 could end up being the turnaround year, from a bear market to a bull market. And that a bull market ascent could develop in 2015. Full Story
In the second quarter of 2014 the EMA GARP Fund increased in value by 10.2%. This is the best quarterly performance in over a year, and it represents the second consecutive quarter of positive results. It is still too early to tell if we have seen the worst in the markets for gold and silver, and gold and silver mining shares. However, we like what we see. If, indeed, the trend has changed then we see a lot of upside potential in our portfolio, given how oversold and undervalued each and every one of our portfolio companies has become. Full Story
There are some analysts out there who maintain that the precipitous decline in commodity prices this year bodes ill for the stock market. Witness for example the dramatic drop in the price of corn. Below is a chart of the Teucrium Corn Fund (CORN), a proxy for corn futures. As you can see, corn prices are at multi-year lows right now. This is ironic given that the mainstream media assured us earlier this year that higher ag commodity prices were on the way. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 28 July, 2014
With great persistence and a little encouragement from GATA our friend R.B. in Britain has more or less solved the mystery of the Financial Times' quick deletion from its Internet site of its February 24 report about gold market manipulation, "Fears Over Gold Price Rigging Put Investors on Alert; German and UK Regulators Investigate." Full Story
While you have never likely dreamed the classic cult flick Highlander would ever be used to make social comment of this nature, still, here we are today. It’s appropriate in my view because the unraveling of the West, Globalization, and America specifically is accelerating now – the economy, the markets, and the money. Along the way the US had its sword out beheading both friend and foe to gain more power and wealth, but now the brazen greed of American power Barrons has been exposed for all to see, again, causing a quickening of decentralization from untrustworthy influence. America has been exposed for not being the trustworthy policeman and economic savior of the world it was sold as, now viewed more as an opportunistic bully and juggernaut. Full Story
Reverse purchase agreements are the vehicle and fulcrum for the perpetual motion machine of modern finance. These daily transactions between institutions are absurd letters of credit in the shadows. They are central to our faith based monetary system gone horribly wrong. Backed solely by the diminishing collateral of a set of sovereign promises, they are about as likely to succeed as an actual perpetual motion. Full Story
The US Dollar Index was very strong in July…closing last week at its best levels since February…very close to a major chart breakout. The Euro closed at an 8 month low…we expect it to take out last year’s low (128) before the end of this year. CAD hit a 5 year low (8850) in mid-March…rallied to 9400 by early July but has since traded back below 9250. The 3 month CAD rally was fuelled by short covering…speculators actually became net long in July…we expect to see them reverse their positions again…we see 9400 as a roof and look for CAD to make new lows this year. Full Story
The market movement unfolds in waves which reflects human nature that does not change. The Elliott Wave Principle is made of motive and corrective waves. Waves 1, 3 and 5 are impulse waves as they move with the trend, Waves 2 and 4 are corrective waves as they partially retrace the previous impulse move. A complete sequence is made of 8 waves: a 5-wave motive phase (1, 2, 3, 4, 5) and a basic 3-wave corrective phase (A, B, C). Full Story
In this Weekend Report I would like to show you an in-depth look at two important precious metals stock indexes, the GDM and GDXJ. The reason I want to show you these two PM stock indexes is because they correspond with the 3 X leveraged etf’s, GDM for NUGT and the GDXJ for JUNG that we are currently trading. Last week seemed like the end of the world to a lot of the gold bugs as the PM complex had a decent sell off causing much pain for those holding on the long side. If you’ve been in the markets for any length of time you know there usually no gain without some pain. Full Story
Briefly: In our opinion (half) speculative short positions in gold, silver and mining stocks are now justified from the risk/reward perspective. Gold and the rest of the precious metals market moved higher on Friday and the volume was not low. It was lower (for the GLD ETF) than what we had seen during Thursday’s decline, so there are some bearish implications. But are they really that important? Let’s take a closer look. Full Story
It’s earnings season once again, and though only a quarter of the Russell 1000 has reported so far, the news is just north of positive. All signs indicate that the market has dusted itself off and is back to its cheerful self after a ho-hum first quarter, which was negatively affected by harsh winter weather. Full Story
I don’t typically emphasize price charts in analyzing the market, however something unusual has been happening in the spot (physical) silver market. It did not happen in the silver futures market, nor in the gold market. I have been bearish on silver because of its supply and demand fundamentals, and the price action shown below adds a new dimension. Full Story
We have just two stops to make on today’s rabbit trail, but both of them “count” and both are pretty dang important. Today we will be looking at what some are calling a “too-high, too fast” net long position in silver by Managed Money traders and then we will cover an aspect of the huge, record high short position in silver futures held by the mercenary Swap Dealers, and it’s a “keeper.” So, with no further preamble, let’s take the lesser of the two first and move on from there. Full Story
James Turk, from GoldMoney.com, co-author of the bestseller: The Money Bubble, returns to the show with an update on gold backwardation. Gold has been back-dated in 90 days out of the past 180 days, an unprecedented event. The last two times something similar occurred (2000 & 2009, approximately), marked the beginning of the most powerful bull runs for gold and silver in decades. The 2008 credit crisis was just the opening salvo, banks are still insolvent, debt continues to pile up; the end result will eclipse the last financial bubble in size and breadth, making real money, gold and silver, necessary components of every investment portfolio. Full Story
Last week we took a deep dive into how the concept of GDP (gross domestic product) came about. We looked at some of the controversies surrounding GDP statistics that we use to measure the growth of the economy, and we noted that the GDP tool seems designed to reflect and serve an economic theory (Keynesianism) that prefers to focus on the demand side of economic activity. Full Story
You know that bearish gold call from Goldman Swaps Sachs on Thursday that helped push gold lower, albeit not really very much? Let's look at the action in gold and silver in hourly terms with the COT cutoffs shown to refresh the memory. Full Story
Arriving in Central London yesterday this correspondent spent an hour in a taxi to make what should have been a five minute trip because of a circuitous detour to avoid a huge demonstration about the invasion of Gaza. Consider that $60 fare a contribution to this struggle though it may be yet more money wasted on one of the Middle East’s many seemingly insolvable geopolitical problems. The news from the self-proclaimed Islamic State growing inside Iraq and Syria also appeared none too promising with a Syrian military base falling to the rebels. Full Story
The magic of compound interest is well known. What is lesser known is the magic of the gold/silver ratio, not as a measure as it is mostly viewed, but as an application for increasing one’s holdings substantially, over time. What is so great here is that no magic is involved, rather simply utilizing the market to more than double your holdings. Full Story
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