IF I'M RIGHT ABOUT THIS, things are going to get even worse before they get better. Why? Because hardly anyone else is talking about it! By the time the world outside of Turdville finally figures out what's going on, the stock market will be crashing, crude will be near $80 and the metals will be even lower, particularly silver. Full Story
Gold has broken below $1200 this morning in what should begin the final breakdown. In weekly and monthly terms $1200 was the remaining support. Sure Gold could bounce from $1180 but todays breakdown is more significant. Both metals are now in breakdown mode while the mining stocks continue to slide. There is more downside ahead and bulls should continue to stand aside before a favorable buying opportunity emerges. Full Story
While the precious metals may have seemed like they were riding a roller coaster recently, serious investors must learn to see past the short-term noise to understand the important fundamental signals. By all accounts, the global dollar reserve system is in its death throes. At the first major crack, we are likely to see the biggest gold rally the world has ever seen. At that point, it will matter less whether you bought in at $600, $1200, or $1900, because those prices will all seem so cheap as to be quaint. Remember $1.20 a gallon gas? That wasn’t too long ago, and yet we know that we’ll never see that price at the pump again. Full Story
The US$ has been soaring. Since making a low in May 2014 just under 79 the US$ Index has jumped almost 9% to over 86. If the US$ is rising other currencies must be falling. The Euro has lost almost 10%, the Japanese Yen has fallen 7%, and, the British Pound has lost about 6%. Those three make up 57.6%, 13.6% and 11.9% respectively of the US$ Index. The Cdn$ makes up 9.1% of the US$ Index and has lost 5%. Oh yes, gold has fallen about 10% in the same period. Gold may not be a part of the US$ Index, but many consider it to be an alternative currency. Full Story
Last week, a story broke about Fed whistleblower Carmen Segarra. I wrote an article on Forbes about it, Disgruntled Fed Lawyer Blows Whistle on Regulatory Capture. Segarra is a former Fed regulator assigned to supervise Goldman Sachs. She secretly recorded 46 hours of audio from her meetings, during her short stint on site at Goldman as a Fed employee. Full Story
We’re now into Year 2 AS (After Snowden), and many Americans remain concerned about the security of their cellphone calls. They should be, especially considering a phenomenon that’s hit the news in the past few months. Full Story
A small slip perhaps on the way to a sensible conclusion; but it is indicative of the false mechanisation of human behaviour by modern macro-economists. However it should also be noted that is impossible to square the concept of velocity of circulation with one simple fact of everyday life: we earn our salaries once and we dispose of it. That's a constant velocity of roughly one. Full Story
I keep hearing... "You don't want a world where silver is $350 or gold is $10000". Maybe not. But the probability of that happening, with all the "known, knowns" of risk - make it crucial to own some amount just in case. Obviously, you know this as well as anyone. And no one wants chaos, suffering, and war. Just as no one wants a world of extreme, speculative excess that is so dangerous and extreme that very little remains of a real economy. Full Story
Hong Kong, which was returned to China by Britain after the expiration of a 99-year lease, has long been regarded as a sort of capitalist jewel in China’s crown, but now it seems to be becoming a “thorn in its side”. One has to wonder why, after 17 years, the students of Hong Kong have suddenly decided to confront the Chinese government over the issue of democracy. They have made it plain that they are not prepared to accept the dictates of central government – and the general law of the land in which they live. Full Story
The DOW was in an Ending Diagonal pattern which we have followed for many months before the recent downside. The chart below is from our members page and illustrates the completed pattern on Sept 23rd indicating a stock market top. On Friday Sept 19th, it appeared that the market top was likely in place, but we confirmed the reversal on Monday Sept 22nd. The forecast for the reversal was also supported by many other indices that we follow. Full Story
In February of 2013 we noted the big fat HEAD on the HUI’s massive H&S pattern. It was reviewed again in April of 2013 after it broke the neckline in a very bearish move. Mr. Fat Head’s technical objective was and is 100. Full Story
The gold to silver ratio (GSR) acts like a sentiment indicator. When the GSR is low both gold and silver are usually running upward and strong. When the ratio is high, like now (Sept. 30, 2014), gold and especially silver are priced low and disinterest is nearly universal. Full Story
Nothing like trying to clean up your legacy before you die, your lie blows up publicly ...or both. Alan Greenspan decided to talk about "gold" in an Op-Ed piece this past week in an effort to clean up his legacy. The article was published by Foreign Affairs. Please read this opinion piece very carefully, or even twice before continuing. Full Story
Hello, and welcome back to this month’s Ask the Expert here on Sprott Money News. I’m your host, Geoff Rutherford, and on the line with me today we have Dr. Paul Craig Roberts. Dr. Paul Craig Roberts is an American economist and a columnist for Creators Syndicate. He served as an assistant Secretary for the Treasury in the Reagan Administration and was noted as co-founder of “Reaganomics.” And with that, we’d like to welcome Dr. Paul Craig Roberts. Good morning, Paul, thank you for joining us. Full Story
For the last two months, and especially the month of September, I’ve been trying to prep you for the impulse move that we currently find ourselves in right now. You don’t have to wait any longer wondering when it’s going to begin. We’ve been in this impulse move down since the last high was made on August 14th, which is the 4th reversal point in that blue triangle consolidation pattern, we’ve been following so close. Full Story
The 2008 crisis was just a warm-up. The 2008 crisis was a banking and equities crisis. In the simplest terms, investment banks, leveraged to the hilt with garbage mortgage derivatives, became insolvent and began to collapse. Full Story
By: Steve St. Angelo, SRSrocco Report - 2 October, 2014
The Primary Silver Mining Industry continues to suffer from manipulated low metal prices. Although, the prices of the precious metals finally turned around and are trading higher today as the broader markets get hammered — a welcome change. Full Story
Touring the Alamo, presenting on how retirees can succeed in a crisis economy, and picking the brain of one of the world’s top economists, Dr. Lacy Hunt, about the future of low interest rates were among the highlights of my recent trip to San Antonio for the Casey Research Summit. In addition to authoring two books and countless articles for leading financial publications, Dr. Hunt is executive vice president of Hoisington Investment Management Company, a firm that manages $5.4 billion. Full Story
As far as I’m concerned, and this is not about being right, or being stubborn, this is about my analysis, right or wrong. I really think this is the month where we are going to turn around, meaning that the bottoms for both metals could be tested. Silver broke below the $18.17 low that I have been talking about for a long time. The next level of support is the $17.50 area. Full Story
Well, the headlines are rightfully bearish for gold, silver and the major precious metals stock indexes, ETFs and senior gold miners. The technical damage is real. Today’s burst could be and probably is just short covering. [edit; post was mostly written before the end of day flop] But improbably enough, there is a stealth uptrend going on in certain royalties, miners, developers and explorers. Believe me, if you could hear me talk instead of write you would not hear anything resembling desperation in my tone. Full Story
When you think of heart disease, heart attacks probably come to mind first. Like most things biological, however, there’s more to the story. The most common sort of heart failure is actually caused by a process whereby the walls of the heart thicken and slow down. This is often called diastolic heart failure or cardiac hypertrophy. Full Story
Everywhere you turn today, gold is again being dismissed as a relic of the past, totally worthless, non-producing, with no place in any modern day portfolio. During the past 3 years, the gold complex has experienced the progressive stages of fear, capitulation, and despair, all classic bottoming phases of a long term Cycle. The question now is whether this high level of apathy is a symptom of a new secular bear market or a period of “stealth smart money” accumulation. Full Story
The United States government is currently about $17.5 trillion in debt. To place this number in perspective: if we assume that only the above-poverty line households will be making net contributions towards paying this enormous debt, this means that the national debt equals about $180,000 for each "able to pay" household in the US. Full Story
Sometimes seemingly unrelated news is actually joined at the hip and directly related. For example, what does Bill Gross leaving PIMCO, China announcing "yuan for euro" direct trade and unrest in Ukraine, ISIS overrunning part of Syria and Iraq, and the recent protests in Hong Kong ...have in common? I'll talk briefly about each and give you some clues along the way to an obvious ending. Full Story
By: John Browne, Senior Economic Consultant at Euro Pacific Capital - 1 October, 2014
On September 26th, the English Parliament voted to join the U.S.-led bombing of ISIL, at least in Iraq. The news was received with relief by most in the Anglosphere world and throughout Europe. However, very little regard has been paid to the relative benefits and costs. The military actions that the UK has committed herself to conduct will have a low probability of achieving the stated objective of "degrading and destroying" ISIL. However, there is a much higher likelihood that air strikes from the UK will increase ISIL's stated objective of projecting fear and terrorism deeper into the West. If that were to occur, the resulting implications for business will be difficult to project. Full Story
At our San Antonio summit, Rick Rule gave a talk that, as always, was well reasoned, packed with facts, and powerfully cogent. His message was simply that bear markets are for buying and bull markets are for selling—and in the future, resource investors with staying power would look back on the current market as “the good old days” when they were able to buy great stocks cheap. Full Story
Bond professional traders look for an edge. Firms may risk their own capital, but most brokers look to skim an easy commission. It’s the institutions who have the most at stake and need a stable bond market. When not if, the bubble busts or deflates, the air is going to escape and blow over average investors. Full Story
In my view China would swap its foreign exchange reserves for the world's gold supply in a heartbeat. It is a willing buyer perhaps without equal. Jeff Clark, senior precious metals analyst at Casey Research, puts it this way: “[T]he Chinese think differently about gold. They view gold in the context of its role throughout history and dismiss the Western economist who arrogantly declares it an outdated relic. They buy in preparation for a new monetary order–not as a trade they hope earns them a profit.” Private investors might take note. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 30 September, 2014
This Friday is Yom Kippur, the day when Jews around the world ask forgiveness for their transgressions from the year past. Rabbis remind the penitent to dwell on their sins of omission, in which they did nothing when a more thoughtful and proactive action was needed, and sins of commission, in which they actively participated in an unjust action. And while not all economists are Jewish, Gene Epstein the economics editor at Barron's, offered his thoughts on how this applies to the group. Full Story
In America, there is a lot of talk about higher interest rates, and I would argue that most of those fears are already factored into the current price of gold. Janet Yellen has not given any indication that she’s going to embark on a cycle of raising interest rates. The gold-bearish economists said gold would crash, when the taper began. Instead, it rallied, as I predicted it would. If Janet does raise rates, I think gold will rally again, and global stock markets will suffer a massive correction at best, and a full crash at worst. Full Story
I read an article penned by Michael Snyder and posted on ZeroHedge last week and could only shake my head. In fact, the more I thought about it the more I started laughing. Yes, I laughed until tears came to my eyes. This is really not normal for me to break up laughing so hard at anything and certainly when it's not even close to a laughing matter. Why did I laugh? Because it struck me as so funny that the "side bets" are so much larger than the system itself yet people expect the system to survive? Full Story
When I need to clear my mind, I put on my beat-up Saucony sneakers and drive to nearby Deer Lake Park in Burnaby, British Columbia. After a couple of miles, though, as my body gets into a rhythm, my mind wanders back to the thought that occupy it for hours each day: where will this market go next? And I’ve thought a lot about what went on this summer. Full Story
The 1999 gold crisis was the turning point in the bankers’ war on gold. Intended to disguise the falling value of fiat paper money, a lower gold price signaled that monetary distress caused by the removal of gold from the international monetary system did not exist, that capital markets would continue to expand despite the ever-increasing amounts of constantly compounding debt; and that the already indebted could safely borrow even more, certain that future economic growth would create sufficient opportunities to pay whatever sums already owed ad infinitum. Full Story
By: Steve St. Angelo, SRSrocco Report - 30 September, 2014
Something is brewing in the gold market as U.S. Gold Eagle sales hit a record this month. This is a very interesting trend change as sales of Gold Eagles were sluggish for most of the year. Matter-a-fact, Gold Eagle sales in September are the second highest for the year. If we look at the chart below, investors purchased 55,500 oz of Gold Eagles, more than double August sales of 25,000 oz. January usually holds the single highest sales month of the year due to high demand for the newly released official gold coin. Full Story
Jay Taylor doesn't beat around the bush—he believes the price of gold is being suppressed to support the U.S. dollar and underwrite American foreign policy. But the publisher and editor of J. Taylor's Gold, Energy & Tech Stocks and host of the radio show "Turning Hard Times into Good Times" thinks that this suppression will fail, just as it did in the 1970s, when gold rose over 2,300%. In this interview with The Gold Report, Taylor urges investors to stay as liquid as possible so they can invest in undervalued companies poised to explode when the value of gold is reasserted. Full Story
Into the fray – a term with several meanings that helps define the juncture humanity finds itself pressing up against at the moment, poised to descend into a new and darker world the haves are not prepared to contemplate at the moment. Scuffles, a brawl, a heated dispute, to alarm (due to intensifying official fraud and the ruthless subjugation via increasingly punitive and arcane laws), to frighten, to drive away – such is the agitated state and circumstances behind why many in Scotland desire secession. Full Story
We follow precious metals, not as harbingers of financial armageddon or even geopolitical unrest, but primarily as a leading proxy of the commodity markets - that we feel provides the most nuanced view of which way the inflation vane is pointing today and possibly headed tomorrow. Full Story
This past week had many events which in days (long) gone by would have been shocking. By today's standards almost nothing is shocking anymore. It is as if in the words of Pink Floyd, we are now "comfortably numb". Full Story
By: Steve Saville, The Speculative Investor - 29 September, 2014
It is widely believed that silver outperforms gold during bull markets for these metals, but that's only partially true. It's true that silver tends to achieve a greater percentage gain than gold from bull-market start to bull-market end. It's also the case that silver tends to do better during the final year of a cyclical bull market and during the late stages of the intermediate-term rallies that happen within cyclical bull markets. However, the early stages of gold-silver bull markets tend to be characterised by relative strength in gold. This is a point we've made in the past, including in TSI commentaries earlier this year, but warrants revisiting due to the recent price action. Full Story
Some of you may remember those gold ingot vending machines that started to pop up at airports and other places several years ago, which were of course a sign of a top. If they are still there they have probably been reconfigured to dispense cans of coke and candy, and if so it’s a positive sign for gold. Full Story
Francis Fukuyama created all sorts of controversy when he declared “the end of history” in 1989 (and again in 1992 in the book cited above). That book won general applause, and unlike many other academics he has gone on to produce similarly thoughtful work. A review of his latest book, Political Order and Political Decay: From the Industrial Revolution to the Globalisation of Democracy, appeared just yesterday in The Economist. It’s the second volume in a two-volume tour de force on “political order.” Full Story
David McAlvany is President and CEO of the McAlvany Financial Companies – International Collectors Associates, ICA Europe, and McAlvany Wealth Management – and is director of the Swiss Corporation, Global Gold. Stephen Leeb, Ph.D. President, Chairman of Investment Committee • 25+ years of investment experience with a focus on growth stocks • Editor of The Complete Investor Full Story
I am often asked the above question several times each day. It looks like a triple bottom is shaping up in the near future. Gold is getting close to its cost of production. The gold/silver ratio is going higher indicating that silver is the better value of the two at present. But sitting back and taking a look at the big picture consider the following top 10 list: Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 28 September, 2014
Bullion Vault research director Adrian Ash notes that the fourth European Central Bank Gold Agreement takes effect today, extends for five years, and removes any limits on gold sales by the 21 signatories while acknowledging that "they do not have any plans to sell significant amounts of gold," because the limits contained in predecessor agreements had come to look silly, such sales having ended long ago. Full Story
By: Steve St. Angelo, SRSrocco Report - 28 September, 2014
The values of gold and silver would be substantially higher if it wasn’t for the massive derivatives market. Americans have no idea that the Derivatives Monster destroyed the ability for the market to properly value physical assets, commodities and the precious metals. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 28 September, 2014
On September 16th 2014, copper futures on the Comex jumped the most in 13 months, triggering a brief trading halt. The cause? A news report had said China, the world’s top metal user, had increased government stimulus measures by 500 billion yuan or US$81 billion. Copper’s price jumped as much as 4.1 percent on the news, the largest intraday increase since May 3, 2013. The increase triggered a “stop spike event” – a trading halt. Bloomberg said copper trading across all contracts was 70 percent more than the average of the past 100 days. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 28 September, 2014
The central banks suppressing the gold price drained their official reserves for price suppression before, so why wouldn't they do it again? After all, if the central banks want to recover their reserves, they can always create infinite money with which to repurchase the gold and start the price suppression scheme all over again at a higher level. Full Story
As we near the end of the 3rd Q for 2014, time is running out for all the 2014 enthusiasts that are calling for higher prices by year-end. The lessons learned from 2013 have been forgotten as not only are not prices beginning to move higher, they are making new recent lows. Incredibly enough, many of these prognosticators are paid pretty well by their subscribers. Lesson to be learned? Absolutely no one can divine the future. Full Story
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