By: Bill Bonner & The Daily Reckoning Crew - 2 January, 2009
-U.S. government takes over the economy…always look on the bright side of life… -A few predictions for the New Year…a slew of people get to see their dreams realized - in the United States… -The government to determine who shall eat…and more! Full Story
By: John Browne, senior market analyst for Euro Pacific Capital - 2 January, 2009
The second half of 2008 will be remembered as the era in which justifiably panicked investors fled the global equity markets and flooded into the bond markets, particularly the U.S. Treasury market. As I write this, the migration largely continues. Full Story
By: Scott Wright, Zeal Intelligence LLC - 2 January, 2009
At Zeal we welcomed the new year by publishing the latest edition of our Favorite Gold-Producing Stocks Research Report. And looking back a lot has happened in the gold stock arena since the last installment. In fact in just over a year the environment in which we trade these stocks has radically changed. While some of the environmental forces have occurred from the inside out, the most impactful are external in nature and have really caught investors off guard. Full Story
One of the most bothersome questions from 2005 to 2007 used to be whether the Untied States would ultimately submit to inflation or deflation. This is actually the wrong question. Many analysts in my view are incorrect in their conclusion that the US suffers from a powerful deflation episode, since they endorse the wrong definition, confuse effect with cause (as usual), do not properly monitor the money flow, and then draw improper conclusions from prices. They suffer from a type of Keynesian Tunnel Vision. Full Story
Its been an interesting year, to put it mildly. Commodities prices and stocks have all discovered new lows. Gold has demonstrated consistently its reliability as a store of value. Less than a year after oil prices set all time record highs, it’s trading at 2004 price levels. Full Story
By: The Gold Report and Pamela Aden - 2 January, 2009
Veteran analyst Pamela Aden’s studies of the market suggest that although recovery is by no means imminent, a respite for the battered stock market is due and she sees important signs of calming in the turbulence. In this wide-ranging interview with The Gold Report as one of Wall Street’s worst years comes to a close, Pamela—who with her sister, Mary Anne, publishes the highly regarded Aden Forecast—talks about prospects for gold, silver, bonds, currencies and more. Full Story
Throughout the ages, gold has stood the test of time as a consistently reliable medium of exchange, and has frequently been referred to as “God’s money,” as only God can make more of it. Seeking superhuman power over money in the way alchemists did in ancient times caused society to shun them as charlatans. In much the same way, free people today should be sending the message that this power and control over our money is no longer acceptable. Full Story
This Optimist does not want to break any rules, so here is my detailed summary of 2008. Precious metals and energy prices rose strongly, and the price of gold exceeded $1,000 for the first time ever, in March 2008. Then the price of everything (except U.S. Treasuries!) plummeted to unbelievable lows. Full Story
There is a commodity not traded on any exchange, not measureable in dollars, immune to the effects of supply and demand, once present in many global markets, but now all but extinct. With the closing of 2008, the commodity with the grimmest prospects of recovery is trust. Full Story
By: Richard Daughty, The Mogambo Guru - 2 January, 2009
The good news is not only that I don't own any public facilities that have garbage disposal or HVAC liabilities, but also that both of these nightmares are solvable by silver, which is already in less supply than the demand can satisfy… Full Story
By: Bill Bonner & The Daily Reckoning Crew - 2 January, 2009
-Well, we're glad to put that year behind us…a close call with a moat…a rare, but typical meltdown… -Bernanke won't stand for deflation…thank God for gold…our first resolution for the year: stick to the basics… -Our Trade of Decade still stands strong…your last chance to join the Agora Financial Reserve…and more! Full Story
By: Bill Bonner & The Daily Reckoning Crew - 31 December, 2008
-Here we are…The last day of the worst year in stock market history….being wrong in economics is just a matter of opinion… -Economies are not machines…consumer confidence hits an all-time low… -The final stage of the financial crisis is likely to resemble Zimbabwe…a look back at the year behind us…and more! Full Story
Another forgotten anniversary that haunts the nation is the re-establishment of the gold standard in the United States by the Roosevelt administration on January 1, 1934. What? -- you may ask incredulously. Roosevelt re-introducing the gold standard in the United States? You had better believe it. That’s exactly what he did. He fixed the statutory price of gold at $35 per ounce 75 years ago. This price was observed until 1971 as it was also incorporated in several international treaties, and confirmed by the solemn promises of several presidents following Roosevelt. Full Story
I could’ve sung “It was a very good year for me in the markets if not for one big blunder - mining and exploration stocks. Foreseeing the economic and stock market crisis in October 2007 and urging reads to sell all stocks (except those related to precious metals) and actually shorting the stock market (and covering just under 8,000 on the Dow) proved to be an almost perfect year. Full Story
2008 has provided many Profit Destroying Pitfalls, and 2009 will likely provide more. But no Pitfalls must be more assiduously avoided in 2009, and several years beyond, than certain Naïve and False Assumptions which are the product of Financial and Market Conditions Which No Longer Exist. Full Story
By: Gary North, Mises on Money - 31 December, 2008
One of the best tests for determining whether a financial columnist or a professional economist is a Keynesian is to examine his views on personal spending. If he favors an increase of personal spending as a means to stimulate the economy, he is a Keynesian. He may not call himself a Keynesian, but he is a Keynesian. Full Story
Gulf Cooperation Council leaders yesterday concluded their 29th annual summit meeting in Muscat, Oman with a final approval for the creation of a single currency for the six-nation economic bloc, still targeted for 2010. Saudi Arabia is the largest economy in the GCC and boasts substantial gold reserves. But whether gold will be included in the currency basket has not yet been decided. Full Story
By: Richard Daughty, The Mogambo Guru - 31 December, 2008
And the reason is that the Lagging Indictor with its inflation detector attributes has been rising faster than the other two for as long as I can remember without doing the actual work to look it up. Full Story
By: Rick Ackerman, Rick's Picks - 31 December, 2008
The number 901 looks like nothing special in the chart below, but we’ve kept it prominently in mind as the trigger point for a potentially explosive move to at least 972. Both numbers are what we call Hidden Pivots, and we have come to regard a breach of these resistance points as a very reliable sign of more strength to come. Full Story
The Office of the Comptroller of the Currency just released its Q3/08 Quarterly Derivatives Fact Sheet today. Here is one of the highlights: Take a look at J.P. Morgan’s gold derivatives [futures] position, paying particular attention to how the < 1 yr. position changed from the end of Q2/08 to the end of Q3/08: Full Story
By: The editors of Without Borders, Casey Research - 30 December, 2008
As many pundits – and President-elect Obama – expect, “Things will get worse before they get better.” In an economic crisis like this, prudent investors are well advised to diversify their portfolio… ideally, some of it in global stocks and real estate. And, as Casey Research Chairman Doug Casey likes to say, you may prefer to expatriate and “watch the crisis on TV instead of through your living room window.” Full Story
By: Bill Bonner & The Daily Reckoning Crew - 30 December, 2008
-A bad year…and 2009 doesn't look much better…the worldwide financial crunch is affecting everyone… -2008 will go down as the worst year for investors of all time…who needs Smoot or Hawley? -Friedman has let us down…Keynesianism causes more problems than it solves…and more! Full Story
This decline in base metals and silver byproduct output, as well as the deteriorating world economic conditions have afforded you the opportunity to take advantage of a truly exceptional situation. The circumstances have converged to make silver a better buy than ever before, thanks to the sharp sell-off since summer. It’s one thing to say silver is a better buy than ever before, and another to back that statement up. Here’s the backup - It’s in tighter supply than ever and that supply threatens to get tighter. It’s the cheapest it has been in years. World economic conditions favor it more than ever. It has more one-way converts and strong long-term holders daily. The manipulation is closer to ending than ever before. The only thing you must avoid is waiting too long to buy it. Full Story
By: Mary Anne & Pamela Aden, The Aden Forecast - 30 December, 2008
As the year draws to a close, we can only say that we’re sure this will be a year we’ll all remember for a long time. It’ll probably fall into the category of 1974, when the country was in a steep recession and gas lines wrapped around blocks, or like 1979. At that time, inflation was raging and interest rates soared to 20%. Even though the circumstances were very different, those landmark times are well remembered and this year will be similar. Full Story
In their attempts to halt credit deflation, the government and the Fed are unleashing a torrent of corruption, inefficiency, misuse of funds, and fraud. If a bank is too big to fail and the government and/or the Fed make sure that it survives, despite the past mis-behaviors of its officers, then they invite those officers to misuse the funds that they infuse. Full Story
Oh my lovely American Patriots… I have been told to prepare you for the Golden Age that will soon be upon us as we look forward to the Rebirth of the American Republic. Can you picture the age where we as Americans can look up to the force of the Golden Bull that will grow larger and larger as a Citizenry unites once again as one body of Individual Liberty Loving Patriots under the sparkle of such a magnificent metal as a New Star arises from the East! Full Story
It’s totally counterintuitive, but 2009 will be the year to take risks. When the whole world is risk averse, the potential rewards for taking on risk are absolutely tremendous. When I say, the seeds of wealth and financial freedom are planted in bear markets; this is what I’m talking about. Full Story
By: Richard Daughty, The Mogambo Guru - 30 December, 2008
In the last 7 years, the dollar has fallen 33% according to the dollar index, which has fallen from 120 to 80, which is actually up as the dollar has exploded back 15%, rising from 72 to 83, in the year. Full Story
By: Rick Ackerman, Rick's Picks - 30 December, 2008
I’m seated in the corner of a Boulder café, ruminating on the day’s events, including a trade in the E-Mini S&P that we missed by a hair. The bid I’d suggested was intended to leverage a fat-and-juicy Hidden Pivot support at 852.75, but the actual low occurred two ticks above it, at 853.25. The subsequent rally trampolined 19 points, raising the question of whether we got front-run on our own advice. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 29 December, 2008
-2008 is coming to a close…and investors are looking at a loss of over 40%… -After a great bubble of consumer debt comes the crushing burden of having to pay it back…even churches are getting their steeples knocked off… -The real damage - and the real pain - is still to come…spending without a safety net…and more! Full Story
This letter is the last one for this year, so it’s time to look ahead to 2009. It’s shaping up to be an ugly year for financial institutions and the economy, but a good one I expect for the precious metals. Here are my 2009 targets: Full Story
The new trend for 2009 among emerging gold producers will be amalgamation. In spite of gold’s buoyant performance during the final quarter of 2008, investment in potentially profitable gold deposit developers continues to remain virtually non-existent. Full Story
This article deals with the blatant manipulation that has been occurring in the gold and silver markets, and offers a solution. While this scandal has been going on for many years, at last more and more people are becoming aware that it is going on. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 29 December, 2008
As recession fears cause the nation to embrace greater state control of the economy and unimaginable federal deficits, one searches in vain for debate worthy of the moment. Where there should be an historic clash of ideas, there is only blind resignation and an amorphous queasiness that we are simply sweeping the slouching beast under the rug. Full Story
Below you see the chart of the U.S. money supply for most of the last 2 years. It has risen by 16% in just half a year. To put this figure in context, the worst year for money creation since WWII was 1986, in which the money supply grew by 17% for the full year. To make matters worse, the monetary base, which is a good predictor of the future money supply, has almost doubled over the same period. Full Story
By: Jake Towne, the Champion of the Constitution - 29 December, 2008
So in plain English, this silver doohickey fries AIDS. This patent was filed in 1996. Dr. Antelman lists therein two examples where several test subjects in Honduras in late stages of AIDS all had the virus destroyed by the Tetrasil/Imusil treatment, although several still died from the damage from the diseases that the AIDS virus allowed to evolve. Full Story
The US dollar had a big rally from July until just a few weeks ago as the dollar started an avalanche slide putting in a small dead cat bounce last week. Friday the USD closed on a 3 day low and from looking at the daily chart the beginning of another downward slide should push gold prices higher in the near future. The technical’s for the US dollar look bearish with the 50 day moving average starting lower, momentum shows divergence indicating lower prices, and stochastic is showing the US dollar topping here for this bounce. Full Story
What would normally be a time of happiness and cheer this holiday season has become instead an occasion of gloom and foreboding for many. At every turn we hear dire predictions of pending calamities to befall the economy in 2009. Prophecies of another Great Crash like the one of 1929 are repeated with such frequency that they are now believed by one and all. Full Story
Gold hit $884 as this post was written early on Monday 29th December, the day that Indian astrologers have down for a stock market crash. That would seem unlikely given thin holiday trading. But a further rise in the gold price, even if short-term, looks probable for four reasons: Full Story
By: Rick Ackerman, Rick's Picks - 29 December, 2008
Although the U.S. Government has thrown an estimated $8.5 trillion so far into bailout measures and credit stimulus, this huge sum has yet to produce even a mote of tangible success. The goal for nearly two years has been to stabilize home values, but instead they have continued to fall. Policymakers and economists must be perplexed by this, even if beleaguered homeowners are not. Full Story
1st Hour: Headline news & Market Weatherman Forecast. Spotlight Stock Picks with big dividends. The International Forecaster and Host Chris Waltzek answer listeners' questions. 2nd Hour: Dr. Ron Paul Mike Maloney Full Story
By: Bob Chapman, The International Forecaster - 28 December, 2008
Dwarfing the Madoff Ponzi scheme, which in the end may turn out to be, at least in part, a scam to feign investment losses for purposes of ripping off insurance companies with invalid claims for fraud while bilking taxpayers out their hard-earned money with deceitful requests for government bailouts and tax breaks, is the Social Security Ponzi scheme. Full Story
By: Jake Towne, the Champion of the Constitution - 28 December, 2008
The purpose of the following is to argue that the "gold standard," as understood by most of the public, did not cause or worsen the Great Depression as current FED Chairman Ben Bernanke has based many of his papers, speeches, and, to a large extent, his entire career on. In our contemporary times, I do believe this blame must be firmly rejected and monetary policy should, at the very least, be debated in a national forum. Indeed many other economists, such as the Friedman family, Anna Schwartz, Alan Greenspan, and Jeffrey "Shock Doctor" Sachs, have all propagated this lie. Full Story
By: The Gold Report and Bob Moriarty - 28 December, 2008
Buckle your seat belts. Bob Moriarty, 321gold.com founder, pulls no punches in his latest exclusive interview with The Gold Report. He sees a short-term rally in the stock market but paints a very sobering longer-term picture with "guaranteed hyperinflation." He believes precious metals and other “things” are the only safety nets. Full Story
By: David Bond, Editor Silverminers.com - 28 December, 2008
Seattle, Portland and the Pacific Northwest in general got huge amounts of ink and video for what we would describe here in the Bitterroots as a skiff of snow or a heavy frost, but is to coastal wimps a blizzard, a Category 5 disaster: A Serious Inconvenience. Full Story
For 2009 the resumption of a strong bull market in gold is one of the few positive predictions that look reliable. The sell-offs by hedge funds which kept gold future prices down in 2008 are coming to an end, and that should unleash a powerful new up leg in the gold market. Full Story
By: Rick Ackerman, Rick's Picks - 28 December, 2008
Jim Willy is one of the few commentators on the economic scene who deserves our serious attention. In his latest report, he trashes the crackpot notion that we’re in a mere recession, or that a recovery will occur in 2009. The economic paradigm is shifting tectonically, he says, and few things will be the same once we emerge from the current crisis. He also has this to say: “The year 2009 by year-end should be marred by very big inflation outbursts in price structures, enough to silence the wrong-footed deflation theory guys.” Full Story
Gold was up about $34 dollars for the week for a 4% gain, closing at $871.20. As repeatedly mentioned in past reports, the $850 level for gold is very important. It represents the previous bull market high and defines the intermediate term trend for gold. Full Story
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