Lately investors have been worried about liquidity, specifically the central bank’s willingness (or unwillingness) to continue providing it, and with good reason. Without periodic injections of liquidity, investors eventually lose interest as financial markets begin to languish. And in a financial economy like the U.S., the death of a bull market means the death of the economic recovery. Full Story
It is our firm belief that the precious metals sector has bottomed out and the downside is very limited from here on out. While there doesn’t seem to be an immediate rush back into the sector, now is a great time to be acquiring physical metals, but more importantly producers with growth profiles. That’s where we really see the value and upside potential. Now would be a good time to start adding and scaling into any new positions you plan on taking. Full Story
By: Scott Wright, Zeal Intelligence - 3 August, 2012
In 2011 gold-mine production came in at an all-time record high. And in 2012 experts anticipate production to be even higher, edging above the previous year’s 87m-ounce tally. From the looks of it, the major source of gold’s supply is in fine fettle. But is the gold-mining industry truly healthy? Full Story
By: The Gold Report and Carlos Andres - 3 August, 2012
Select frontier markets, once eyed skeptically as fraught with danger, are now some of the most robust economies in the world. But the shares of companies exploring and producing in these markets often continue to lag based on long-held fears that are no longer valid. How does an investor decipher that fine line between real and perceived? Full Story
So, gold didn’t move below $1,500 and it rallied recently – the worst is behind us, right? It might be, but there are reasons to think otherwise and in today’s essay we will feature two charts (courtesy by http://stockcharts.com) that should make you think twice before investing your whole capital in the gold market. Full Story
Looking beneath the Misinformation and Hype and Spin at Key Fundamentals and Technical Signals (“Deepcasting”) is essential for Profit and Protection. But actually acting as a contrarian in the face of the weight of highly publicized opinion, is not always easy, but is nonetheless necessary. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 3 August, 2012
The Los Angeles Times reported yesterday that the U.S. Treasury Department is "auditing" the gold vaulted at the Federal Reserve Bank of New York, most of which is held in custody for other countries, but only to the extent of confirming the gold content of the bars kept there, and not touching on issues of ownership impairment, like swapping and leasing, the issues raised by GATA and others aggrieved by manipulation of the gold market. Full Story
The heating and cooling of the Earth coincides with the activity of the sun - the sun determines the Earth’s temperature. Since man-made carbon dioxide emissions started in the 1850’s, the CO2 level has only risen 11 percent – a very small rise with a nearly negligible effect. Full Story
Alas, the devil is in the details for Europe’s latest attempt at financial alchemy. Much to the investment world’s apparent dismay yesterday, it turned out that the ECB’s Draghi had nothing very specific in mind when he pledged last week to defend Europe’s monetary union by any means necessary. Full Story
Some extremely powerful differentials in power are setting themselves up, in a manner never seen before in modern history. Those who dismiss the uniqueness of the situation are those who continually are surprised by events as they unfold. The pressure features the managers of the system, complete with corruption and fraud with official coverups in a never-ending sequence of crime scenes, pitted against the forces of justice and fair markets. Not a single fair market exists in USDollar terms. Full Story
By: Gary Dorsch, Editor, Global Money Trends - 2 August, 2012
When will the Fed’s folly and madness come to an end? Perhaps next year, we’ll begin to see big changes at the Federal Reserve, including the sacking of Fed chief Ben Bernanke, and his henchmen of addicted money printers, who have tossed aside the notion of “Moral Hazard,” a long time ago, and instead, are engaging in “financial repression” in the bond markets, and the rigging of the stock market, much to the chagrin of believers in free markets. However, in order for this shake-up at the Fed to occur, the Republican Party would have to beat the odds, by capturing the White House, and majorities in both chambers of Congress. Full Story
Where is the gold price today? If you're like many Americans, you have no idea whether it went up, down, or sideways. Fortunately, I know my readers to be more informed - you likely know that after falling from almost $1900, gold has been trapped around $1600 since early May. But you may still be curious why despite continued money-printing and abysmal US economic reports, gold hasn't been able to hit new highs. Full Story
By: Dr. Lacy Hunt for Casey Research - 2 August, 2012
In the early 1960s, when JFK was in the White House and William McChesney Martin was Fed chairman, Keynesian economics was in full bloom. One of its major tenets is the Phillips Curve, which posits a stable inverse relationship between the rate of inflation and the unemployment rate. Yale professor James Tobin and others argued that the social outcome could be improved by a more activist monetary and fiscal policy. Specifically, they contended that the unemployment rate could be lowered while only resulting in slightly higher inflation. Full Story
The Greek crisis was merely the warm-up act for the main show: the default of Spain and its much-denied departure from the euro. That departure will leave holders of Spanish bonds with IOUs in euros that will be paid interest in pesetas. These bond-holders include French banks, German banks, and assorted pension funds. The owners of those institutions will take significant hits on their net worth. Full Story
Gold and silver investors are coming through the normal summer lows in prices and there are some nice price gains already from these summer lows. Autumn is traditionally the best season for precious metal prices. Gold hit an all-time high of $1,923 on September 6th last year before a sharp correction. We could well see a similar pattern this year, only perhaps with even greater volatility. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 1 August, 2012
With Germany’s leaders telling us that the exit from the Eurozone by Greece no longer holds terror for them, we understand that they are prepared for such an eventuality. As the E.U. leader’s representatives went to Greece this week to see the progress on the implementation of structural reforms and the austerity measures, it became clear to all that while we must wait for the results from them, Greece is failing in its efforts and further financing will be held beck for now, at least. Adding to the woes in Greece, there is little agreement within their Parliament. The Greek government is itself a broad mix of conservatives and Socialists. Full Story
By: The Gold Report and Adrian Day - 1 August, 2012
Adrian Day, principal of Adrian Day Asset Management, which manages portfolios for high-net-worth clients, believes that it is time for the gold pendulum to swing away from the excessive pessimism in the market and finds that now is an exceptional time to buy gold equities. In this exclusive interview with The Gold Report, Day explains why gold is ready to rebound and why prospect-generator and royalty companies are king. Full Story
How did Stockton, California get mired so deeply in muck, stuck with paying an estimated $417 million over the next 30 years to provide free lifetime healthcare to its pampered workers? The short answer is that voters were too busy to care about such things. Indeed, if they’d attended city council meetings or kept up with the minutes from those meetings, they’d have realized a decade ago that the city was on a path to financial disaster. Full Story
Last week we examined the bullish symmetrical triangle pattern in gold and identified the potential breakout points in this time-tested technical indicator. We also looked at the Ichimoku Kinko Hyo indicators for gold to see if their trend and momentum signals confirmed the validity of the chart pattern. Were these indicators correct? Full Story
This missive begins with a couple of unusual charts – unusual because they contain no reference points. Here's the first. As you'll note, something occurred that triggered a waterfall slide in the chart. We'll get to what that triggering event was in a moment. Full Story
If something is broken, it can often be repaired. If your car is in an accident, you take it to the repair shop. If you go to the repair shop and see it on a hoist with mechanics working on it, the odds are good that repairs are being made. Junior gold stocks are the passion, and arguably the lifeblood, of the gold community. They have been broken, like a car in a bad accident, but there is now a beehive of activity going on at the “technical analysis repair shop”. Full Story
Featured is the weekly gold chart with a five year perspective. Price is breaking out in similar fashion to the breakout in 2009 - after the 2008 pullback. The supporting indicators are bouncing up from support levels (green lines). Full Story
There are no certainties in the investment universe. Investors are forced to weigh up the various risks and assess the probabilities involved before committing themselves to a course of action. Current Elliott Wave and technical studies suggest that the probabilities now favor a strong rise in the gold price. Full Story
When the euro was launched, the European Central Bank (ECB) held approximately 15% of its assets in gold. That ratio has remained reasonably stable, giving rise to a variety of chatter, including suggestions that it may displace the U.S. dollar. We pursue the question on whether the ECB’s gold holdings are an accident or strategy. Full Story
The European Crisis is accelerating with every day. Indeed, at this point there’s a new major development (if not more than one) on a daily basis. Rather than detailing every single news item, I’d rather address the larger concerns. This will better help you understand the larger systemic issues and how this is all likely to play out. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 31 July, 2012
If there was any serious journalism about gold -- or, for that matter, any serious financial journalism at all today -- the BIS would be a ripe subject, plainly the center of vast and unaccountable power. But the bank's acknowledged secret dealings in the gold market may be enough to establish the general probability of market manipulation. Full Story
It was an exciting and educational week. I was in Vancouver at the Agora Financial Investment Symposium speaking to hundreds of investors who are eager to learn how to grow and protect their wealth. This year’s theme, “Innovate or Die,” fit well with my presentation, as the conference challenged attendees to adapt their investment strategies just as empires and enterprises adjust to changing circumstances. Full Story
The focus of the markets and the alternative media is firmly placed on the continued disintegration of the world financial system. Many believe that the collapse of the fiat monetary system along with the global banking cartel is the worst possible outcome. However, this may actually turn out to be the good news in a sea of bad news that is lurking around the corner. Full Story
By: The Gold Report and Philip Ker - 30 July, 2012
Junior miners are giving the Street something to talk about. Despite what seems like a market dominated by bad news, promising companies with good balance sheets do exist. In this exclusive interview with The Gold Report, Philip Ker, an analyst with Vancouver-based Union Securities, defends this current lull as an opportune time to get ahead of the herd. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 30 July, 2012
Now that the Supreme Court has given its narrow blessing to the Affordable Care Act, the big question is whether it will deliver the benefits that its proponents promise. Unfortunately, as it is now constructed, the plan will backfire causing fewer healthy people to buy insurance, raise premiums for those who do, destroy employment opportunities, cripple the health insurance industry, and weaken the economy. Full Story
The relationship between gold stocks (while in a secular bull market) and the broad market (while in a secular bear market) is difficult to diagnose and that is what makes it so interesting. There is no single rule of thumb or axiom we can trust because history is quite varied. There are instances of the gold stocks crashing with the stock market, rising with the stock market and rising substantially while the stock market endures a nasty bear market. Full Story
By: Dr. Ron Paul, U.S. Congressman - 30 July, 2012
Last week the House of Representatives overwhelmingly passed my legislation calling for a full and effective audit of the Federal Reserve. Well over 300 of my Congressional colleagues supported the bill, each casting a landmark vote that marks the culmination of decades of work. We have taken a big step toward bringing transparency to the most destructive financial institution in the world. Full Story
On Thursday the European Central Bank’s Mario Draghi was moved to defend the euro, after Spain’s government bond yields rose dramatically through the 7% level. And when Valencia asked the central government for a bailout, followed by indications that other cities and regions have similar problems, it became clear that Spain is in deep trouble. We have got used to the concept of too-big-to-fail; now we have too-big-to-rescue. Full Story
Gold made a breakout from a significant multipoint triangle consolidation pattern, see right hand chart below. The main focus for me going into next week is on long trade setups in GC in the smaller degree timeframe as long as we are above the breakout area. The pressure next week should be on the bears. Full Story
If monetizing debt is understood to mean printing money to pay for government deficits, then the Fed is guilty. The basics are quite simple. The federal government issues and the Fed buys interest-bearing debt certificates. The Fed pays for these securities by creating digits on a computer that represent dollars. In this Age of Ron Paul, more people are learning that the digits do not represent savings borrowed from the public. Full Story
As usual, the stock market was vexatiously out of step with reality last week, soaring on word that the ECB plans to do “whatever it takes” to preserve the euro and the political union that it binds. For U.S. investors, especially those who believe in hope and change (and, presumably, the Easter Bunny), there was also the invaluable news that the U.S. economy is once again verging on recession – a development which is widely believed to portend yet more Fed easing. Completing the delusional vision that good times are soon to return nonetheless, crude oil finished the week with a gain of about $4 per barrel. Full Story
Something woke me up. I don't know what. Something, though. But once awake, it seemed to me that it was strangely quiet. And before you ask, the answer is "Yes. It is TOO quiet," which unfailingly means that something bad, usually something VERY bad, is just about to happen, like (as I learned from decades of watching TV) getting attacked with guns and/or arrows. Full Story
The latest scandal du jour seems to be about what is now called LIBORgate. But is it a scandal or is it really just business as usual? And if we don’t know which it is, what does that say about how we organize the financial world, in which $300-800 trillion, give or take, is based on LIBOR? This is actually just the second verse of the old song about derivatives, which is a much larger market. Full Story
I do not believe that hyperinflation is inevitable. I think it is unlikely. I do think that a Great Default is inevitable. Governments will default when the workers who are paying into Social Security and Medicare finally figure out that (1) this is not in their self-interest and (2) they outnumber the geezers. Full Story
It was very interesting to hear a full presentation of the bearish case for gold by Paul Van Eeden, President of Cranberry Capital at the closing session of the Agora FInancial Investment Symposium in Vancouver. Full Story
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