What’s important to me is that Gold’s weakest time of year is past, at least on a historical basis. Unless Crude Oil suddenly falls apart, Gold on its own has reason enough over the next 3-5 months to rally, at least from a momentum point of view according the above Seasonal Chart of Gold. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 3 July, 2008
-Investors turn a whiter shade of pale…the dollar is holding on by its fingernails… -The 19 billion dollar pack of cookies…40 years without a single step in the right direction… -Central banker hotline still waiting for its first call…a rare appearance by Percy Sledge…and more! Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 3 July, 2008
We have been asked whether South African gold shares remain a good investment? Our stock answer will be from now on, yes, in the longer term. How could we say that when it is becoming apparent to all that the political and economic climate of South Africa is decaying and looks likely to continue to decay as far as one can see ahead? Full Story
By: Scott Wright, Zeal Intelligence LLC - 3 July, 2008
As Americans enter the July 4th weekend they have a lot to look forward to. First and foremost is the celebration of this nation’s independence marked by a federal holiday. Then of course are the customary traditions of parades, fireworks, baseball games, and carnivals among the many. But one timeless tradition that nicely ties into the topic of this essay is the almighty barbeque. Full Story
Whatever you do, don’t be complacent at this point. If we are right, then the economic crisis will soon head into its next and most dangerous stage. Certainly, we should feel the heat, and maybe worse, by the end of the year. Full Story
The Starting Point for protection and profit is to determine how much of one’s investable assets one wishes to have in a Core Position of Gold, Silver and other Tangible Assets and then to determine investment vehicles in which to hold them. This Core Position is truly a long-term position and should represent a significant portion of one’s investable assets (Deepcaster recommends about 50%). Full Story
By: Bob Chapman, The International Forecaster - 3 July, 2008
We are seeing the beginning of a new stage in the credit crisis. Companies do not have cash, they were too busy buying their stock back with cash flow and loans so executives could cash in their option gains, and banks won’t give most of them any more loans. This is the beginning of a second era in the credit crisis. Full Story
One thing we find truly amazing about the markets is that they’re much more than just investments. Markets provide a way of peeking into the future, if you understand what they’re trying to tell you. These lessons are ongoing but it’s fascinating and like a giant puzzle. Full Story
Overall, for the general stock market, especially the banking sector, the last two months might be qualified as something called "death by a thousand cuts", an ancient form of torture and execution in Imperial China. If you look at the BKX chart, everyday the index has been dropping bit by bit, not drastic enough to have media headlines all over the place like the 1987 crash, but still painful enough for buy and hold investors. Full Story
By: Richard Daughty, The MOGAMBO GURU - 3 July, 2008
Mr. Samuelson is also admitting that he is completely ignorant of John Williams and his shadowstats.com, where inflation is calculated the way it was actually measured in 1974, and which shows that price inflation is now HIGHER than it was in 1974… Full Story
Ugly. With bullish seasonality ratcheted up to the max, the Dow still managed to fall 167 point yesterday. Perhaps we shouldn’t be too surprised, since the stock market just finished its worst June since 1930. Full Story
The USDollar is on the edge of the chasm again. The nonsense has been cast aside about a bank recovery, a housing stabilization, and an economy that can withstand a spillover. How incredible it is to see grown adults accept such marketing and promotional drivel. Wake up and smell the blood! The US financial and economic system has never been so vulnerable in almost a century. Full Story
By: John Browne, Senior Market Strategist, Euro Pacific Capital - 2 July, 2008
On June 25th, the Fed made no changes in its key interest rates and issued a statement that underscored how narrow their room for maneuver had become. Caught between the opposing forces of economic contraction and inflation, the Fed revealed that it was locked in neutral. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 2 July, 2008
-Looking out the window at a real collapse…banking stocks are the new dotcoms… -The fruit of selling oil and widgets to U.S. consumers…the 3 major challenges facing the United States… -"Leaning into the wind" seems more like "spitting"…muddling through a bankrupt government…and more! Full Story
Buying Gold doesn't offer to pay three times Fed funds minus your sister-in-law's birthday divided by the number you first thought of. But Gold owned outright is at least sure to sit free of counterparty and trigger risk. And that's got to be worth buying as banks fight to bamboozle investors with a new raft of complex derivatives...even as the last derivatives bubble continues to blow up. Full Story
The gold market has just completed Large wave II of Major wave THREE. It is currently in the process of commencing Large III of Major wave THREE, which should be a strong upward impulsive wave that could reach to above $1,500 before it is completed. Full Story
The long awaited meeting of the Federal Reserve is now history, another page in the annals of monetary debasement is etched into the record, a most hideous and shameful tale, one of wanton destruction to the purchasing power of the U.S. currency or dollar bill, a.k.a. Federal Reserve Note. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 2 July, 2008
A new direction and new ideas? I doubt it. Just increased taxation and a furthering of the separation of the classes in this country. The rich as always will become wealthier and the numbers of poor and financially destitute will grow. But have you noticed that neither of the two major candidates has put together and presented a real program that will solve the major crises affecting the U.S. today? Full Story
Those rushing into the paper oil market and chasing Gold on the latest news need to answer two important questions. Why has Silver not been confirming the move in paper oil and Gold? Why have Gold stocks not been confirming this action? Failure of these two markets, until Tuesday, to have joined in paper oil mania induced market action raises serious concerns about both the price of paper oil and Gold. Full Story
By: Richard Daughty, The MOGAMBO GURU - 2 July, 2008
Looking furtively about with my beady, rat-like eyes to a route of escape, I was nevertheless frozen to the spot when he said, 'Our nation has come to expect the Federal Reserve to step in to avert events that pose unacceptable systemic risk.' Full Story
By: Bill Bonner & The Daily Reckoning Crew - 1 July, 2008
-No point in criticizing a retired wrongdoer…squatters and transients in "see through" houses… -A disturbing headline in the New York Times…a booster shot to foreign economies… -Abandoned houses of ill repute…what's been done with the family money…and more! Full Story
According to my revisionist theory the Great Depression, far from being caused by overproduction as suggested by Keynes, was caused by wholesale destruction of capital. The ultimate cause was risk-free profits granted to bond speculators through the Fed’s open market operations. Full Story
By: Theodore Butler & Israel Friedman - 1 July, 2008
We are witnessing a new era of world capitalism and economic development. Over the past few decades, a part of the world has shifted to Western style capitalism from state-controlled communism. This is creating confusion over how we should invest for the future. With this confusion comes both new risks and opportunities. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 July, 2008
From mid-to-end August the Indian market revives after their harvest gathering after the monsoons as 70% of gold buyers come from the agricultural sector in India. They then stay present in the market until May the following year. They buy for religious reasons and because gold represents financial security for families. Full Story
By: Steven Saville, Speculative Investor - 1 July, 2008
Since early this year we've been using the performances of various markets during 1973 as a rough guide to what we should expect over the course of this year. Using 1973 as a model has made sense to us for a number of reasons. First, the equity, gold and currency markets have appeared to be in similar situations in the present as they were back then. Full Story
By: Richard Daughty, The MOGAMBO GURU - 1 July, 2008
The bad news is that today's feasters, gorging themselves at the government trough, are not going to commit suicide. They are going to riot, and elect politicians to continue the feast, regardless of the cost. Full Story
The chart below is a picture of bears baiting each other, and it’s as good an excuse as a trader could find to take the rest of the week off. Yesterday, when a flurry of unpersuasive selling dried up in the first 30 minutes, DaBoyz evidently set their flinty little hearts on the goal of popping the E-Mini S&P above Friday’s peak, a 1291.75 print that was recorded in the dead of night. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 30 June, 2008
-Over $140 and climbing…playing hell with all sorts of investments… -Bond vigilantes emerging from the land of nod…no country for old men with money… -Letting the undertakers decide when you are ready to die… no such place as 'nowhere'…and more! Full Story
Gold had me worried in the spring as a large and powerful head and shoulders top formed in the weekly basis chart. Had this formation broken its neckline, I would be looking for a pullback in gold to the apex of the giant triangle it formed in 2006-07, which is $670. But on Thursday and Friday, it moved aggressively in the opposite direction and broke its downtrend line. Full Story
Above the law – that’s where financial authorities, politicos, and bureaucrats think they are – a farce justified on the premise extreme times justify extreme measures. Moreover, they routinely lie and cheat the public out their savings to protect their own positions, as opposed to living up to oath’s of office and serving the public’s interest. Full Story
The first well-known widespread use of paper money was in China during the Tang (618-907 A.D.) dynasty around 800 A.D. Paper money spread to the city of Tabriz, Persia in 1294 and to parts of India and Japan between 1319 to 1331. However, its use was very short-lived in these regions. In Persia, the merchants refused to recognize the new money, thus bringing trade to a standstill. By 1455, after over 600 years, the Chinese abandoned paper money due to numerous problems of over issuance and hyperinflation. Full Story
In the 1970s, Baby Boomers were swelling job ranks and women were moving out of the home and into the paid workforce in most of the industrialized world. At the same time OPEC pushed crude oil prices through the roof to overturn what it viewed as a predatory system of resource transfer set up by colonial powers. Full Story
By: Boris Sobolev, Resource Stock Guide - 30 June, 2008
A common view of the Federal Reserve is that it is some sort of a nearly omnipotent being standing on guard of healthy economic expansion maintaining a delicate balance between growth and inflation in the way of regulating money supply and the cost of borrowing. This view may be correct, but only theoretically so. Full Story
The supposed debate between inflationists and deflationists is really no debate at all as far as we’re concerned, and the dialogue we had last week with iTulip founder Eric Janszen should have convinced no one of his thesis that the U.S. economy is headed into some hybrid of inflation/stagflation/hyperinflation. Full Story
Gold had a strong week, rising 27.60 (+3.05%) to close at $931.30 (continuous contract). Below is the daily chart for GLD. It shows nearly the same gain for the week. However, there is a huge upside gap lurking right beneath the recent move up. Gaps love to fill, but they don’t have to; the question is when and from what level if they so decide. Full Story
1st Hour: Headline news & Market Weatherman Forecast. Spotlight Stock Picks with big dividends. The International Forecaster and Host Chris Waltzek answer listener questions. 2nd Hour: Kevin Kerr, Outstanding Investments Full Story
By: Bob Chapman, The International Forecaster - 29 June, 2008
Poof! Virtually all stock market gains for the past two years have just gone up in smoke. That is because all those gains were falsely and fraudulently created and contrived by the President's Working Group on Financial Markets, a/k/a the Plunge Protection Team (PPT), in a deceitful and unprecedented "Puff-the-Fluff" rally extravaganza which pushed stock markets into a state of suspended animation that was both totally unjustified and in complete and utter contravention of every market fundamental known to man. Full Story
Increasing Gold, Silver, Crude Oil and other Tangible Commodities prices threaten this Power because they are alternative stores and measures of value to The Cartel’s paper. Therefore, we can expect The Cartel to attack Gold, Silver, Crude Oil and the Other Strategic Commodities with a vengeance, and, given the recent POMO Repo adds, and other signs, very soon. The main question is, will they succeed? Full Story
By: John Mauldin, Millennium Wave Advisors - 29 June, 2008
It was only five years ago that the central bankers of the world, and especially the Fed, was worried about deflation. Ben Bernanke was introduced to the world at large with his famous helicopter speech about how the Fed could deal with a deflationary environment. Who would have thought that what passed as humor to a group of economists would be taken so seriously by the rest of the world? Full Story
By: Richard Daughty, The MOGAMBO GURU - 29 June, 2008
And since we are talking soft, fluffy, slow-pitch questions, I'll ask one: What monetary policy is the best and most stringent? Easy one: The gold standard! Full Story
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