Monetary systems can and do break down, and the ties of cross-border trade cannot guarantee a currency pact which 15 out of its 16 members have breached. No two countries with a McDonald's franchise ever went to war with each other until they did in the Balkans in 1991, and as the last of the Euro's tattered rules are torn up, why should the legal "impossibility" of secession alone be observed? Full Story
By: The Gold Report and Dieter Hoeppli - 3 December, 2010
If there is one thing UBS Securities' Dieter Hoeppli knows it's steel. As global head of steel, as well as metals and mining in the Americas for UBS, he's spent the last 20 years analyzing the steel business and acting as an advisor on countless mergers and takeover deals. He regularly travels the world and crunches numbers to determine what's going to grow and what's not. In this Gold Report exclusive, we take you inside the recent Forbes & Manhattan summit for some of Dieter's candid thoughts on the shortage of iron ore global steel manufacturers are now facing. Full Story
As some of the disclosures required by the financial reform bill are made, everyday Americans are starting to figure out what many zealous economy and market watchers have known since 2008: The Fed’s rescue programs weren’t just aimed at domestic banks with Manhattan headquarters. The aid stretched far into the reaches of everyday America, with the recipients of approximately $885 billion in loans still not disclosed. Full Story
Wanna know how to make a small fortune in the stock market? Start with a large fortune and buy stocks based on your emotions. Wickedly funny. Disastrously true. Letting your emotions determine the timing of stock purchases means buying when everyone around you is buying – that’s why you feel so certain – and ensures you will enter near an interim top. Full Story
Today's payroll report severely disappointed on the downside and left economists scratching their heads to explain the weakness. The explanation, however, is plain as day. As I have been saying for years, the US economy will not create jobs as long as the Fed keeps interest rates artificially low, and Congress keeps stimulating spending and consumer debt, punishing employers with mandates, regulations, and taxes, crowding out private investment with massive government borrowing, and preventing market forces from restructuring our out-of-balance economy. Full Story
By: Scott Wright, Zeal Intelligence LLC - 3 December, 2010
Gold mineralization knows no borders. This most precious of metals can be found within the highest mountains, densest jungles, hottest deserts, and deepest bowels of the underworld. But since all land is outlined by borders, gold mining’s global affair is bound by country-level dynamics. And with the mined supply trending down, these dynamics have become increasingly important. Full Story
Summing up, given the strength in precious metals’ fundamentals, we believe that fully investing long-term capital is both wise and prudent at this time as well as holding a small speculative position. Long positions should be held onto at this time. Full Story
The Key Takeaway from these Observations is that, short of War, the Greatest Risk for Sovereign Nations, and many States, Municipalition and, indeed, businesses, is Default Risk. The likely “Solution” is Currency Devaluation and/or Actual Default. Full Story
It's important to note that confiscation was necessary to Roosevelt's plan because we were under a gold standard. Gold at that time was widely held throughout the population. If Roosevelt had devalued the dollar without confiscation, then whatever savings Americans held in gold would have been immune from this hidden tax. Furthermore, many Americans likely would have redeemed whatever paper dollars they held in fear of another devaluation. This could have wrecked the dollar's viability as a currency. Full Story
November is a busy conferencing month due in part to post-field season confabs by the exploration community. This year marked a shift for us from Quebec’s annual get together, to the one in Yukon with which it unfortunately conflicted. Full Story
The Goldsmiths CLXIX, as published last week, made the case for the work of the Rothschild Cabal of super rich bankers to use the US government and US dollar for its worldwide work of making profits and moving the globe ever closer to world government. If there ever was a story dominating the news wires better able to make that case, it happened the past week when the Fed, under legal pressure, finally released some (but not all) of the details of its secret loaning operations in the past few years in connection with the so-called economic meltdown now in progress. Full Story
By: Richard Daughty, The Mogambo Guru - 3 December, 2010
If you want some bad news, then Doug Noland, in his Credit Bubble Bulletin at PrudentBear.com, has some for you. He reports that that “Global yields are on the rise.” I was going to make a complimentary comment about how cleverly Mr. Noland conveyed such bad news in only five words; “Global yields are on the rise.” Then I noticed that I could be more concise than Mr. Noland, a rare triumph for me, with “Bond prices falling,” which is only three words. Full Story
Take 24-karat gold jewelry, for instance. To the casual observer, or the TSA agent, it’s not unlike any other necklace or bracelet. To you, it is a portable store of wealth. A "money belt" customs will ignore. And a great insurance policy should you find yourself in need of money on the road. Full Story
Europeans worried about the collapsing value of the euro are buying gold as well as switching into dollars. This is keeping both the yellow metal and greenback rising in value although normally they move in opposite directions. Full Story
By: Jeff Clark and Dr. Sergey Kurzin - 2 December, 2010
The following is an interview Jeff Clark, co-editor of Casey’s International Speculator, conducted with Dr. Sergey Kurzin, a Casey Explorers’ League honoree. The Explorers’ League regularly inducts serially successful mine finders with at least three economic discoveries under their belts – a true accomplishment considering that most explorers don’t even have one economic find throughout their careers. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 2 December, 2010
Germany's Bundesbank today joined the U.S. Federal Reserve in demanding secrecy for gold swap transactions involving those central banks. The Bundesbank brushed off 13 specific questions posed by the German journalist Lars Schall, whom GATA had encouraged to pose the questions. The first of the questions was: "Does the Bundesbank have gold swap arrangements with the United States / Federal Reserve?" Full Story
By: Richard Daughty, The Mogambo Guru - 2 December, 2010
Normally, I am usually wailing about how We’re Freaking Doomed (WFD) because the treacherous Federal Reserve has spent so many years creating so much money that we got inflation, as you would expect, and the inflation was in stocks, inflation in bonds, inflation in houses, creation of a gigantic pile of derivatives that are estimated to total in the quadrillions of dollars... Full Story
By: Rick Ackerman, Rick's Picks - 2 December, 2010
Say one thing for DaBoyz, they have infinite patience to wait until things turn their way, as things nearly always do. Stocks had been grinding sideways for nearly two months, but yesterday the prop-desk provocateurs instantly transformed the picture to their liking, goosing the broad averages into a powerful short squeeze that will probably keep the market buoyant for the remainder of the year. Full Story
Direct trade between China and Russia may be less than $50 billion annually, but it's not the numbers that matter. Under the new agreement, China and Russia have decided that they will use their own local currencies to settle bilateral trade. Previously, both countries used the United States dollar as an intermediary for settling delivery payments. Full Story
There has been a lot of negative press about the big banks rigging the silver market, fake silver inventories in large ETFs and regulators at the CFTC not doing their job by enforcing commodity laws in the COMEX Silver markets. Well, I'm here to tell you to BLOCK OUT all that negativity and sink your teeth into everything GOOD and HONEST about silver! And there is a lot to sink your teeth into because... Full Story
By: Bob Chapman, The International Forecaster - 1 December, 2010
The Federal Reserve’s balance sheet grew a 4th straight week to $2,328 trillion, up $31 billion in a week. In May the balance sheet was $2,333 trillion. Holdings of government securities totaled $901.24 billion, and rose $27.62 billion. Mortgage holdings were unchanged and Agency holdings fell slightly. It might interest you to know that over the past seven years federal debt has doubled to almost $14 trillion. That is more than $100,000 for every American household. Full Story
There is a good reason why the U.S. government prints the phrase “In God We Trust” on the currency. You have to have faith that the pieces of papers you carry in your wallet have value and that you can exchange goods and services for those bits of paper. Fiat money is not "backed up" by anything; intrinsically it is useless paper (nowadays not even that, but mere electronic bookkeeping entries). It is valuable only as far as people believe in its anticipated purchasing power. Full Story
The NAV of THE TIMELESS PRECIOUS METAL FUND increased 21.3% in November 2010. The price of gold moved up by 1.8% only while the price of silver rose by 13.3%. Gold and silver indices representing major companies also went up 4.6% on average over the past month. Junior gold and silver mining shares – the domain and focus of THE TIMELESS PRECIOUS METAL FUND – outperformed the major indices again. Full Story
By: Jerry Western with Lorimer Wilson - 1 December, 2010
If we continue down the same economic path that we have been following for the last four decades - and there is no indication that we won't even if we wanted to, or could, at this point - it is mathematically inevitable that gold and silver will approach infinity in U.S. dollar terms at some point in the future. Yes, approach infinity! Full Story
Resource shares have risen substantially in price over the last many months and it is not unusual to see insiders reporting substantial sells and taking some profits. If you see insider selling in a company that you own what should you do? Full Story
By: Nu Yu, Ph.D with Lorimer Wilson - 1 December, 2010
All is not necessarily as it seems when technical analysis is used to determine the anticipated direction of the U.S. Dollar Index, gold and the U.S. and Chinese stock markets. One sector is going up when all the talk is about its demise, another sector is muddling along when all the talk is about its dramatic future prospects and the other sectors have their share of surprises too. Let us take a look at what the charts tell us. Full Story
$1424 or $1315? Which price does gold touch first? Gold is leaping higher this morning, up $9 to approx. $1375. My unchanged view has been that gold takes out 1424 first, and I bought into the lows at 1315, all the way down in a pyramid formation of buys. The reason I feel gold takes out 1424 first, and have stated it without wavering, is that technically speaking, any consolidation has a 66% chance of continuing (consolidating) the direction price was moving in, when it went into the consolidation. Full Story
By: Richard Daughty, The Mogambo Guru - 1 December, 2010
I thought I knew everything about the foul Federal Reserve in that I knew they cause inflation in prices by deliberately creating too much money, which is the One Big Thing (OBT) that you do not want because of the social upheaval of people starving to death and rioting in the streets. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 30 November, 2010
At the end of October the I.M.F. had 32.7 tonnes of gold left to be sold. In September they sold 32 tonnes of gold and in October 19.5 tonnes, in the open market. Should they continue selling at the pace of September then we would expect to hear the announcement in December and probably in the first half of December. If they continued the slower pace of selling of October then we will have to wait until January 2011 for the announcement. We believe that this is significant because it will signal the real end of “Official” selling of gold. Full Story
As much as I do enjoy some time off there's nothing like getting back to work either, since it’s something I love to do. So over the weekend I got into one of my favourite books, and ran over some historical charts which highlighted one of my favourite patterns. I figured I should share a few examples with you. Full Story
I’ve always occupied the emotional frequencies ranging between disgusted and outraged when it comes to WikiLeaks. Regardless of your stance on governments and sovereign interference, putting the lives of human beings at risk by exposing their participation in intelligence programs is aiding and abetting in murder. The psychotic fundamentalists that perpetuate the bulk of the violent crimes on its own and foreign citizens need not be encouraged by the provision of a list of fresh targets by idealistic or simply amoral grandstanders desperate for attention. Full Story
Recently, currency manipulation has garnered headline attention. We have been constantly bombarded with rhetoric out of Washington: “China isn’t allowing its currency to appreciate fast enough”; “China’s exchange rate policies are stealing jobs from America”; “We’re playing fair, why can’t China?” More often than not, the more vociferous proponents come from politicians who, in our opinion, are simply posturing for votes; attempting to provide catchy sound bites they believe will resonate with their constituents, without fully grasping the underlying fundamentals at play. The situation itself is truly paradoxical – akin to a major corporation thanking its largest creditor by insulting them. Full Story
In the past week I’ve seen more than a few mentions of the potential head and shoulders pattern in Gold. A head and shoulders pattern occurs when a market forms three peaks and the middle peak is noticeably higher than the left and right peaks. However, that is not enough for the pattern to play out as projected in the textbooks. There are other important characteristics of this pattern, which many technicians ignore or are unaware of. Full Story
By: Richard Daughty, The Mogambo Guru - 30 November, 2010
I knew I was pretty sloshed when I started giggling about the perverse idiocy in which bankrupted governments wallow, as The Wall Street Journal had a nice headline that said it all: “States Raise Payroll Taxes to Repay Loans.” Hahaha! Full Story
By: Rick Ackerman and Wayne Razzi - 30 November, 2010
After a long holiday weekend, U.S. stocks came stumbling out of the gate Monday, unable to determine how, or even whether, they should react to yet more “strength” in the dollar. We’ve wrapped the word “strength” in quotes because it is only in relationship to a euro enfeebled by financial crisis that the dollar could ever appear to be strong. And so it was yesterday, with the Dollar Index rallying to within 0.66 points of an ambitious, 81.80 target we’d sent out to subscribers the night before. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 29 November, 2010
Excerpts in English from GATA consultant Dimitri Speck's recent book, "Geheime Goldpolitik" ("Secret Gold Politics"), which so far has been published only in German, have been posted at the book's Internet site and make fascinating reading. Full Story
By: Dr. Ron Paul, U.S. Congressman - 29 November, 2010
As of November 7th, the total U.S. public debt outstanding reached an astonishing $13.7 trillion. This means that although Congress just raised the debt ceiling to $14.3 trillion back in February, the new Congress will face another debt ceiling vote almost immediately next year. Otherwise, the Treasury will not be able to continue issuing debt to fund government operations. Full Story
The rally in the dollar over the past few weeks serves as a good illustration of what it takes to be a good speculator. I can remember when I was new to the art of speculation. It was the early 1970s, and Richard Nixon, unilaterally and illegally, abolished the U.S. gold standard (or at least the slender, connection to gold which still existed at that time and was known as the Bretton Woods System). Full Story
By: Rick Ackerman, Rick's Picks - 29 November, 2010
With Ireland in the throes of an IMF-style bailout, we are being told not to worry about Portugal and Spain, since they are supposedly in significantly better shape. To be sure, Portugal is already living under stringent austerity measures, and Spain’s sovereign borrowing is nowhere near that of Ireland, let alone Greece, as a percentage of GDP. So why are lenders imposing punitive interest rates on these two, latest countries to get on the ropes? Full Story
Any armed attack on Iran (whether directly by the USA or indirectly by the USA through Israel) and/Or very high chances of use of military force against Iran can result in gold, silver and other safe havens zooming. Gold can easily rise of $1500 or $1600 while silver can rise to $30.00 and $34.00 in short term as and when there are these risks. Full Story
1st Hour: Headline news & the Market Weatherman Report. Spotlight Stock Picks. Host Chris Waltzek & Bob Chapman, The International Forecaster discussion and answer listener's questions. 2nd Hour: Catherine Austin Fitts, Solari Inc. James Turk, GoldMoney.com Gerald Celente, Trends Research Institute Bill Murphy, GATA.org Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 28 November, 2010
Since 2000, the gold price has risen from $300 to $1,400 an ounce. There are several more important reasons than its being ‘just a commodity.’ The strongest driving force behind gold’s rise in the last four years has been investment demand. As a commodity, it doesn’t tarnish, it’s a great conductor, and makes good looking jewelry. But these reasons are not the reasons why people invest in gold. Full Story
By: John Mauldin, Millennium Wave Advisors - 28 November, 2010
And the data out over the last few weeks tells us it is getting better. Does this take us out of the double-dip woods, even as the Fed is lowering its forecast? And what is a recession? Yes, we all know it's when the economy doesn't grow, but we are in a rather unique economic environment, this time. Maybe things are getting better, but is it enough to get us back on the road to full employment? Full Story
We have been proposing the monetization of a silver coin in Mexico since 2001. According to our proposal a one-ounce coin of pure silver, with no engraved value, would be given a monetary value by the Mexican Central Bank. This coin would exist and circulate as money, in parallel with the paper money system of Mexico. Full Story
By: Bob Chapman, The International Forecaster - 28 November, 2010
There is no question that the world is at a boil. Germany is drawing anger; N. Korea has attacked S. Korea; flaying about the FED’s Mr. Bernanke blames China for America’s sad economic and financial dilemma; five suits, class action and RICO, have been filed against JPMorgan Chase and HSBC for having manipulated silver prices and class actions are rumored to be in process for naked shorting, which has been rampant in the market for years, a felony hedge fund investigation of insider trading, which the SEC has absolutely refused to pursue. Full Story
Most investors are aware that Benjamin Graham, author of The Intelligent Investor, the acclaimed investment book first published in 1949, is the father of value investing. The basics of value investing are that when you buy a financial asset like a stock or bond, the reason to buy is for the future cash flow that the underlying business is going to generate, and from which you will be compensated in dividends, interest or price appreciation. Full Story
By: The Gold Report and Jon Hykawy - 28 November, 2010
Byron Capital Markets Analyst Jon Hykawy sees the rare earth elements (REE) sector for what it is—something much different from mining copper or gold. He believes the keys to making money in rare earths involve metallurgy, deposit location, marketing and downstream integration. In this Gold Report exclusive, Jon makes his case for rare earth elements. Full Story
By: Richard Daughty, The Mogambo Guru - 28 November, 2010
Being the naturally cynical type of guy that you would expect from someone so angry, so depressed, so outraged, so paranoid and so “Howard Beale” (“I’m as mad as hell, and I’m not going to take this anymore!”) as I am, people want to know “what is with” all of this “deflation” stuff that the Fed is worried about. Full Story
Gold continues to act as one would expect when tracing out a bearish head and shoulder pattern. It’s not finished yet and may not but it does require careful attention over the next week or so. Full Story
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