By: Bill Bonner & The Daily Reckoning Crew - 2 February, 2007
-Getting lathered up about two degrees…global warming versus economic cooling… -World gone wild…even a three-year old can tell that the outlook for the United States is 'devastating'… -Has Warren lost his touch?…a story worth telling…and more! Full Story
Earlier this week Deepcaster Forecast the beginning of yet another significant move in the U.S. Treasury Securities market. That Forecast strengthening of long-term U.S. Treasury Securities (and corresponding reduction in long-term interest rates) has begun. Now, at the beginning of February 2007, Deepcaster Forecasts impending major moves in gold, silver and crude oil. These moves will be the result of the interplay of the genuine market forces, geopolitical events and the “Dark” forces of Cartel Intervention. Full Story
Gold investors often think a sharp sell-off in all other asset classes is guaranteed to deliver them big gains. But the "systemic risk" between Yen carry trades, US bonds, Sterling cash deposits, emerging markets and complex derivative trades is likely to scorch us too when it ignites – at least in the short term. It will be a necessary risk in the short-term, in fact, as gold gains new investors during its long-term climb upwards. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 2 February, 2007
This week, during his testimony before the hostile Senate Banking Committee, Treasury Secretary Henry Paulson sought to justify the Bush administration’s China policy. Predictably, the unmoved senators responded with threats of tariffs should China continue to restrain the yuan, and warned of the negative consequences of restricted access to American consumers. Needless to say, China need not lose any sleep over this bombastic posturing. Full Story
If there was any doubt that the American people were engaged in a deep, collective slumber, one need look no further than the cover story of the most recent BusinessWeek "McDonald's Goes 24/7," for evidence. The article describes the company's new "sizzle" that has its earnings growing like gangbusters, as well as a number of cultural trends that that are transforming both McDonald's and American society in general. Full Story
By: Rick Ackerman, Rick's Picks - 2 February, 2007
While I was out to lunch the Dow wafted higher -- borne aloft, evidently, by a steady breeze of strong earnings reports. Exxon Mobil topped the list with a $39.5 billion profit that was the largest in U.S. history. This seemed to have more than offset a bum report on January sales from GM and Ford – no surprises there – and there were yet a few more bullish quarterly announcements from Boeing, AMD and Comcast. Full Story
By: Dr. Kurt Richebacher & The Daily Reckoning Crew - 1 February, 2007
-Hocus pocus in the temple of the credit gods…Equity Office Properties pie… -Anglo-Saxon economies are about 'getting it now'…the rich love Bacon and Warhol… -The healthy allure of smoking…and more! Full Story
The mere fact that you are reading this hints that you are thinking about jumping on the precious meals bandwagon -- but don’t stop thinking like a contrarian. Keep this most important point in mind: not one in ten U.S. investors currently owns a single gold stock. They know nothing about them, but they do have brokerage accounts and they do like a good story. Full Story
Welcome to GoldSeek.com Chat with Rick Ackerman. During the first part of the chat session, Rick will be answering pre-submitted questions. During the second part, Rick will be answering questions from you.
Thank you for participating, GoldSeek.com Full Story
Gold is breaking out of a range between $640-650. We should see prices continue rising toward to the $680 range with little resistance and then need a new period of consolidation before setting off to challenge the May 2006 highs of $730. Full Story
Dr. Bernanke and cronies went the expected route; hands off. They have gained a measure of credibility as inflation hawks -- again, this was necessary as we have hoped all along that they would "get their pound of flesh" from the inflation trade (raging energy, industrial metals & real estate*, and even precious metals bulls). We needed them to get their lever back in hand, at least partially. Full Story
Over the years, the terms “unallocated metal,” “pool accounts” and “certificate programs” have attracted some controversy. I often receive questions from our clients and readers regarding the Perth Mint Certificate Program (PMCP) and whether the related risks of traditional certificate programs apply. I am here to set the record straight. The answer to this question is: The Perth Mint Certificate Program is an exception to the rule. Full Story
By: Puru Saxena & The Daily Reckoning Crew - 31 January, 2007
-'Savings glut' makes a good punchline… Titanic Credit Expansion… -If you walk the earth long enough, you will surely be struck by lightning… -Parasites surround an old economy…a cure for 'affluenza'…and more! Full Story
By: Bob Chapman, The International Forecaster - 31 January, 2007
All of our debt is simply unpayable. The US is probably more indebted than any other major nation, although many others have been copying the American example. They will all have similar problems with their currencies versus gold and those problems will get worse over the next few years. We are all floating on a sea of paper, fiat paper, currencies, stocks, bonds and mortgages. A problem that can only be solved by the system being purged. Full Story
Paper money, after all, was only as good as the government's promise to swap it for gold. It's not even that good today. Dollars, Pounds, Yen and Euros are just a promise to give you more promises. 'Payment in Kind' like this has only just reached the corporate debt markets; many high-risk borrowers in Europe are now issuing bonds that only pay out in fresh bonds, rather than real cash. In the currency markets – and on Main Street – payment in kind is all we've had since the US Fed finally stopped exchanging Dollars for gold back in August 1971. Full Story
Globally, investors understand their choices of money are Gold, the Euro, the U.S. dollar, the Chinese renminbi, and all the others. The U.S. dollar is losing leadership as Bernanke's monetary alchemy lacks any limitation on the creation of dollar. Without a constraint on supply, the price of the dollar will fall, as is the case with any commodity or good. Any hint by the FOMC that lower U.S. interest rates are a possibility in the short-term will accelerate the shift, pushing down the value of the dollar and moving $Gold's price up. Full Story
By: Richard Daughty, The MOGAMBO GURU - 31 January, 2007
On behalf of those of us who demonically persist in pointing out the sheer inflationary horror of what is happening with the Federal Reserve, the banks and the money supply, I want to commend Barron's for restoring their reporting of the Federal Reserve and bank data. On behalf of a grateful America, I say "thank you!" Full Story
Lately, I have been thinking once again about investment pool accounts and certificate programs for unallocated silver (and other precious metals). Although I have written about such accounts frequently in the past, I still get questions from readers. So let me be clear. My new thoughts lead me to believe that at some point it must end in disaster for both the buyers and issuers of these programs. I will try to explain why and convince you to the best of my ability to get out of these programs now. Full Story
By: Rick Ackerman, Rick's Picks - 31 January, 2007
First things first: Click here to access “100 Bottles of Beer on the Wall” a brilliant, must-read essay from Pimco’s Bill Gross. Here’s a guy who knows just about all there is to know about investment assets, especially fixed-incomes, yet even he and the whizzes who work for him evidently are hard pressed to forecast returns in a bubble-driven financial universe. Full Story
By: Mark Skousen & The Daily Reckoning Crew - 30 January, 2007
-It's the Ides of March every day at the Fed...a dervish economy that's not lifting the price of Huggies and cola... - Success is just an investor away from fatality...Bubbles don't make depression obsolete... -Cut your losses and let your winnings run...and more! Full Story
Frequently I read comments from other analysts regarding the difficulties of trading, i.e. buying, the Canadian mining stocks. They usually suggest investors seek out a broker that specializes in these stocks and while that is not bad advice, it is not necessary to do so. Full Story
By: Steven Saville, Speculative Investor - 30 January, 2007
We thought we'd weigh-in on a debate between Peter Schiff and Robert Murphy regarding the implications of the US's large and seemingly ever-expanding current account deficit (and corresponding capital account surplus since a deficit on the current account must be offset by an equivalent surplus on the capital account). Mr Schiff argues that the current account deficit is a major problem that virtually guarantees a much lower US$, whereas Mr Murphy argues that today's balance of payments situation is not necessarily a bad thing and does not point towards a weaker US$. Full Story
Those 10,000-plus of us who attended Joe Martin's little Cambridge House Resource and Investment get-together in Vancouver last weekend got a taste of what the Prospectors and Developers Association of Canada (PDAC) annual confab in Toronto in March will be like: Nuts. Full Story
By: The Mogambo Guru & The Daily Reckoning Crew - 29 January, 2007
-The suck is everywhere...the whole world has moved toward finance... -The rich you can't look up to...where has all the trust gone? -Relics of previous enthusiasms...how much longer can the miracle last?...and more! Full Story
The Bilderbergs – who are they and what do they do? An aura of mystique surrounds the name, casting shades of reflections of the power elite who supposedly rule the world. Presidents, royalty, prime ministers, global industrialists, and financial leaders from around the world are said to be members of the secrete organization that meets once a year to set the direction and course of international affairs, world events, and global policies. Full Story
1st Hour: * This weeks top market headlines. * Goldseek Radio's Spotlight Pick. If you'd like to be added to Chris's e-mail list, for each weeks ticker symbols and related information, please send a message to: goldseekradio@hughes.net * Bob Chapman and Chris Waltzek discuss the top news items affecting the markets and answer listeners questions. * Market technicians Gary Kaltbaum & Jack Chan. 2nd Hour: * Featured guest: The author ot The Long Emergency: J.H. Kunstler. * Part 1 of Dr. Ron Paul's End of Dollar Hegemony speech. Full Story
By: Bob Chapman, The International Forecaster - 28 January, 2007
The week was very volatile for stocks – the Dow and S&P added 0.6% after considerable help from the Working Group on Financial Markets. Nasdaq fell 1.3%. Gold bullion gained $10.90 and the HUI gold index rallied 4.4%. The dollar index gained 0.5% to 85.11. The 2-year government yields rose 5.5 bps to 4.97% and the 10’s rose 10 bps to 4.87%. Full Story
By: Rick Ackerman, Rick's Picks - 28 January, 2007
It’s hard for me to conceive of buyers lining up eagerly in order to score a PC loaded with Vista, the new operating system from Microsoft. But then, I’ve never been able to understand why people would queue to pay good money for tickets to a Madonna concert. Or opt for a $100 enema at a spa. Still, when Dell starts taking phone orders for Vista-loaded computers this weekend, there are bound to be delays getting through. Full Story
By: John Mauldin, Millenium Wave Advisors - 28 January, 2007
I am in South Africa as this week's letter is being sent out; so it is with some irony that the letter is focused on a topic that generally concerns only US-based investors, although what the SEC does has an effect on regulatory bodies abroad. This is a letter you may want to forward to your friends and associates. Full Story
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