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Weekly Archive

By: Adrian Ash - 8 June, 2007

"POSSIBLY THE EASIEST act for any human being is to spend money which does not belong to him," wrote Robert L. Smitley in his 1933 classic, Popular Financial Delusions. The only thing easier, in fact, is lending money that's not yours and earning a yield on the profit or loss either way. "Almost anyone will risk funds in an enterprise when the funds are not his own," Smitley went on during the Western world's last Great Depression. Hence today's bubble in all assets. Full Story

By: Bill Bonner & The Daily Reckoning Crew - 8 June, 2007

-Global markets bubbling over like a hot tub…still awaiting the financial reckoning day…
-Taking a good thing too far…frisky speculators eating financial oysters…
-Driving through the markets with seatbelts fastened…downsizing your life…and more! Full Story

By: Doug Casey & David Galland - 8 June, 2007

As David Galland points out in the article that follows, the best way to take advantage of China’s explosive growth comes from getting positioned in gold (and for leverage, gold stocks)… the cultural default for wealth in Asia. As you’ll read, the signs of China’s new golden age are already starting to appear. Full Story

By: Brady Willett - 8 June, 2007

The U.S. economy slowed to a crawl in 1Q07 and the U.S. housing market is, by many accounts, years away from a meaningful rebound. With this in mind, why are long-term U.S. interest rates spiking higher and why have mortgage rates risen in each of the last four weeks to rest at 10-month highs? Full Story

By: Peter Schiff, Euro Pacific Capital, Inc. - 8 June, 2007

Initially, a dollar peg brought stability to China. When the dollar was sound, discipline was required to keep a pegged currency from falling. Now that the dollar is weak, inflation is required to keep it from rising. It’s analogous to tethering your monetary ship to the Titanic. Failure to cast off the line will inevitably sink the pegged currency along with the dollar. Full Story

By: Jason Hommel - 8 June, 2007

The LME declared that two people who own more than 25% of the remaining nickel at the LME must lend some of their nickel! Imagine that! "MUST LEND" sounds like a "forced theft" taking, to me! If you store your stuff at another person's place, they can just "up and declare" what you can, and cannot, do with it. Can't keep it, must lend it? Truly astounding. It's almost as if those who own the nickel, don't really own it, but rather, the LME owns it, if it is in "LME approved" warehouses. Full Story

By: Rick Ackerman, Rick's Picks - 8 June, 2007

Is the bull market over? Ask us again in six months, since anyone who would even deign to answer that question is blowing smoke. Even so, it is growing increasingly difficult to ignore the evidence that the bull has started to crack. Yesterday, for instance, the S&Ps recorded their biggest drop in nearly three months. That in itself is no catastrophe. But from a Hidden Pivot perspective the decline was ominous for two reasons. Full Story

By: Byron King & The Daily Reckoning Crew - 7 June, 2007

-Information piled high like manure…getting what you deserve, not what you expect…
-Americans as rich as Zimbabweans…no justice for Castro…another 'artistic' atrocity…
-Forgetting to pay back the poor…the almost successful imposter scheme…and more! Full Story

By: Jim Willie CB - 7 June, 2007

Well, the USDollar and gold have four sheets which are now heavily torn by the wind. Before identifying the sheets, a preliminary glance at some critical events to bear heavily on world finance. These topics are more fully developed in the upcoming June Hat Trick Letter due out in mid-month. Full Story

By: David N. Vaughn, Gold Letter, Inc. - 7 June, 2007

Are you feeling sorry for gold lately? Fraid it doesn’t need your sorrow with its present price action. As I have said before and will say again gold will do what gold wishes to do. Full Story

By: Deepcaster - 7 June, 2007

In the Summer, 2006, Deepcaster was among the first to warn of a Massive Financial and Geopolitical Scheme to dissolve the Sovereignty of the United States, Mexico, and Canada into one Regional Unit called the North American Union (NAU) (“Massive Financial-Geopolitical Scheme Not Reported by Media,” Deepcaster, August 11, 2006). Full Story

By: Jason Hommel - 7 June, 2007

As my readers well know, the excess creation of paper money has had a rather obvious side effect; the depression of gold and silver prices because there is almost no demand or use of gold and silver as money today. So here's the big secret! Low precious metals prices have resulted in another side effect; lack of copper, zinc, and lead. Full Story

By: Gary Tanashian - 7 June, 2007

This blog is about trading and following stocks and markets. Therefore we focus on gold STOCKS vs. the metal. In other words, the format assumes the reader is a trader and has already attended to putting his or her house in order by addressing debt, physical metals and asset allocation. Gold stocks are NOT gold, but they sure are fun to follow and trade. Full Story

By: Richard Daughty, The MOGAMBO GURU - 7 June, 2007

$503 billion is a lot of collateralized debt obligations, and a whopping 500% increase in three years is enough to make your eyeballs comically spring from your head, as in 'Booiinnnnng! Full Story

By: Rick Ackerman, Rick's Picks - 7 June, 2007

We’ve gone disdainfully against the trend twice so far this week, risking bupkus while buying shares of Yamana Gold and shorting Fannie Mae. Yamana is a favorite in the Rick’s Picks chat room and gets hyped daily, but it had been a while since we last took a bullish position. Full Story

By: Puru Saxena & The Daily Reckoning Crew - 6 June, 2007

-The fantasy of buying financial assets…tax flavored Girl Scout cookies…
-A good market for diamond encrusted skulls…no apparent kryptonite for the Super Bubble…
-How to get into a housing jam…being arrogant about how modest we are…and more! Full Story

By: Bob Chapman, The International Forecaster - 6 June, 2007

In gold we hear all about seasonal markets. That was true until about 10 years ago when the gold suppression cartel started to get serious about keeping the gold price from rising to where it would reflect inflation and the fall in the dollar since 1980. In the recent correction, gold went a little lower than we anticipated, but it looks like we are able again to call the bottom and the turn back upward. We are not waiting for a new trading range. We are looking for a breakout over $700. Gold is in a bull market and has spent a year more or less between $600 and $700. It’s time to move upward and breakout. Full Story

By: Larry LaBorde - 6 June, 2007

Huey sounds crazy at first but when you adjust his plan for inflation it is not as bad as it first seemed. After all $1,000,000 doesn’t buy what it used to. Why is that do you suppose? Does anyone think the dollar is not going to depreciate even faster in the coming decades? Get smart and get out of federal reserve notes. Full Story

By: Jason Hommel - 6 June, 2007

One of the reasons that big money managers, and the world's wealthiest people, don't understand gold, and silver, is that human beings, even very, very smart people, just do not understand very large numbers, nor relative size. Full Story

By: Adrian Ash - 6 June, 2007

WILL THE BANK OF ENGLAND raise Sterling interest rates on Thursday? One million British homeowners are hoping they don't. According to research by Credit Suisse, some £200bn in mortgages – one fifth of the total British market – moved onto two-year fixed packages in 2005. Reaching the end of their deals during the next 12 months, says the Financial Times, these home-owners could see their mortgage repayments jump by nearly one third. Full Story

By: Charleston Voice - 6 June, 2007

Well, one thing is settled again, gold and silver have now resumed their appreciation against the US dollar, and most other currencies as well. If that's so then what's wrong with the equity stocks of the precious metals? Why do they still languish or seemingly not keep apace with the rise of G & S? We've always thought and been told that the underlying precious metals stocks are supposed to have 3-to-1 leverage. Again, we have to adorn our Relativity Thinking Cap for clues to an answer. Full Story

By: Rick Ackerman, Rick's Picks - 6 June, 2007

The Dow Industrials fell 81 points yesterday, but we view the relatively light damage as a sign of strength, considering the news. Profit warnings were issued by several retailers, and Helicopter Ben was on the tape with yet more “worries” about “inflation.” For a guy supposedly steeped in the lessons of the Great Depression, it’s amazing that the ongoing collapse of the housing market has yet to shift his attention to the real economic threat of debt deflation. Full Story

By: David Galland & The Daily Reckoning Crew - 5 June, 2007

-Shocked and alarmed at the American police state…don't we have more than enough penguins with all of those animated movies?
-The world's headlong rush to green…another asinine comment stuns us like a prizefighter…
-Why Cyclone Gonu matters to the energy markets…jail time for Paris and dictators…bicycles for everyone…and more! Full Story

By: Theodore Butler - 5 June, 2007

Additional confirmation continues to roll in concerning the changing nature of the price-setting struggle between the dealers and the tech funds in COMEX gold and silver. Recently, I have taken to using analogies to the dinosaur world, writing about T. rex’s, raptors and their food supply, the plant-eating tech funds. I had attributed the declining asset base of the tech funds, due to losses and investor redemptions, as at the heart of the changes. Further, it was my hope that these changes might mark the end of the era of the silver price manipulation. Full Story

By: Gary Dorsch, Editor, Global Money Trends Newsletter - 5 June, 2007

Once upon a time, many years ago, the US stock market lived in fear of a violent band of traders known as the “bond market vigilantes”. Whenever the Federal Reserve’s money supply measures grew too rapidly, or the US economy grew too strongly threatening to stoke higher inflation, the “bond vigilantes” would take matters into their own hands, by jacking-up 30-year Treasury bond yields as much as 25 basis points or short-term T-bill rates by 50 basis points in a single day. Full Story

By: Neal R. Ryan - 5 June, 2007

If there really was ever any doubt about the tail (physical gold trading in London) wagging the dog (gold paper markets across the rest of the world), the recent excitement about all of the central bank activity in the gold market has again proven that indeed the gold market is moved by the actions of a few and it is paramount to keep an eye on that activity. Full Story

By: Greg Silberman - 5 June, 2007

The major holders of Long-term US Bonds are Japanese investors. A slowdown in the USA is causing Japanese investors to sell US Bonds (raising rates) and repatriate their funds back home to invest in Japanese stocks with offer more promising prospects. More promising because Japan is a net exporter and the weak Yen is a boon to Japanese Corporations. Full Story

By: Clif Droke - 5 June, 2007

It has been a rough past few weeks for the silver stocks, with some taking more of a hit than others. A few “name” stocks like Coeur d’Alene (CDE) have born the full brunt of the bears’ fury while other stocks have held up quite well and some have even gone on to make new highs in spite of the recent correction. We’ll take a look at some of these stocks in this report. Full Story

By: Michael J. Kosares - 5 June, 2007

In this issue we resurrect the old Nuggets format to accommodate several analysts who surfaced last week to say that we may have reached a turning point in the gold market. If last week's lows hold, the corrective process took all of a 6% bite out of the price. The charts continue to display a bullish pattern of rising lows and strong buying on the dips. What's more, we are back within roughly $20 of the interim highs. Full Story

By: Rick Ackerman, Rick's Picks - 5 June, 2007

Our targets for both the Dow and the QQQs are well above current levels (see the Rick’s Picks archive as well as the “Actionable Advice” list for precise numbers), so we’ll be looking for buying opportunities in the coming days and weeks as we wait for bearish prospects to ripen. Keep in mind that our goal is not to catch the Mother of All Tops, whose onset no one can time, but rather to leverage the short side of a very mature bull market whenever the risk of doing so is lowest. Full Story

By: The Mogambo Guru & The Daily Reckoning Crew - 4 June, 2007

-The battle for most important economist in the world continues…feverish buying in the Middle Kingdom…
-A saps way of getting rich…inventing worthwhile items - like YouTube…
-Every money manager is now a genius…focusing on the hydraulics of the system…and more! Full Story

By: Captain Hook - 4 June, 2007

That’s where we are at present – right in the heart of the mania. Are we referring to the stock market mania in isolation? Heck no. We are referring to the source of all the manically derived asset bubbles floating round these days, that being the mother of all bubbles then, the credit bubble. And as Doug Noland correctly points out this week in his column, Credit Bubble Bulletin, and as alluded to above, it should be realized these bubbles include more than just ‘investments’, but all sorts of things (collectibles), such as fine art. Full Story

By: Adrian Ash - 4 June, 2007

ONCE UPON A TIME in the market place, says Economics 101, money had three primary functions. A medium of exchange for buying and selling, money was also a unit of account for pricing those deals. Thirdly, it had to act as a store of value – a way of freezing wealth, ready to spend at some point in the future. But monetary history post-WWII makes a mockery of this theory. Full Story

By: Neal R. Ryan - 4 June, 2007

The ECB halt to gold sales grabbed all the headlines at the end of last week and helped reinvigorate a market that was in need of some good news after weathering a serious influx of supply from the central bank sector. We'll have an update on Tuesday morning about last week's activity in the official sector. Hopefully we will see the resumption of a far lower selling level after a significant spike in sales over the past three months. Full Story

By: - 4 June, 2007

This Weeks Guests & Highlights:

Sara Nunnally
The International Forecaster.
Gold & Silver climb higher.
3 Spotlight Picks with big dividends! Full Story

By: Charleston Voice - 3 June, 2007

Now that we're back on the bull track, several have asked what I've been asking myself - "How high is up?" Answer: We don't know. Even in timeframe terms we don't know. Especially in time how long we'll rally in gold, we don't know. There have been an abundance of commodity cycle runs which seem to cluster around the 17-25 year timeframes. Even when they begin is debated. It only makes a difference if you don't recognize the end of it when it's upon you. Full Story

By: Bob Chapman, The International Forecaster - 3 June, 2007

As an afterthought the shorts have covered and they have made very little. They escaped the vice after having added an 80,000 contract short as they had a year ago. It is phenomenal to see a 60,000 short cover in two days. The commercials had only about 30,000 to go, so there were other inside players covering just before the ECB news hit. The gold and silver producers responded as well in fine fashion and are about to again break into higher ground. This time $700 will be broken and the next defense by the Illuminists will be at $850. The pressure is on as the central banks throughout the world raise interest rates and the US doesn’t. It can only end in financial calamity. Full Story

By: Clif Droke - 3 June, 2007

The bull market in stocks continues, but to hear various exponents of the bearish persuasion talk, you’d think the party was ending right now. At least that’s the impression I get reading some of their weekly rants on various Internet sites. Full Story

By: John Mauldin, Millenium Wave Advisors - 3 June, 2007

Are we on a slippery slope of a recession, or was last quarter's weak GDP a turning point? This week's travel shortened e-letter looks at recent data and re-visits some thoughts on consumer spending from friend Joe Ellis' superb book called Ahead of the Curve. This week I wrote from a rainy Edinburgh, Scotland, although this afternoon was pleasant enough, allowing me to walk around some. But on to important matters. Full Story

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