By: Brian Sylvester of The Gold Report - 8 July, 2011
Eric Hommelberg has called a few in his day. In 2009, he predicted gold would reach $1,300/oz. the following year. And it did. But $1,800/oz. gold by the end of the year? Gold has recently come off its high of $1,580/oz., but Hommelberg, a principal of ValcambiGold.com, isn't discouraged. In this exclusive interview with The Gold Report, Hommelberg makes a few more predictions. Full Story
By: Peter Schiff, Euro Pacific Capital - 8 July, 2011
The debt problem does not stem from low taxes, but from high spending. I do not expect a deal to lift the debt limit will make any meaningful impact on either. Unfortunately both taxes and spending are likely to head higher in the years ahead. Americans should prepare for the sad reality. Full Story
In the past four days gold has rallied from low to high of over $50 an ounce, which has left me with the impression that until $1481 in the December Comex Gold is broken that a bottom of importance is in place. The current rally is “V” shaped, meaning that it probably captured those short the market and forced some short covering while at the same time is attracting those who think the rally has left them behind.
So why the sudden rally? Below is my take on financial events now impacting gold. Full Story
We also hope it wasn’t optimism about a budget accord that drove investors into a frenzy. Come to think of it, maybe they were rightfully optimistic that politics-as-usual would prevail, visiting only token tax hikes and spending cuts on a tapped-out America? We’ll lay 5-to-1 that the U.S. debt limit somehow gets raised, but let’s not hold our breath for any meaningful changes in taxes or spending. Full Story
The eventual insolvency of many or most state and local governments in the United States, as well as of many major corporations, can be relatively easily shown to be the necessary mathematical byproduct of current US federal monetary and economic policy. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 7 July, 2011
We cannot see just how the Greek bailout package can force the sale of state assets with no mention of its gold [worth $5.5 billion at present prices]. We have no doubt that Greece will cling onto the family’s jewels as long as possible, but the creditors will fight to get the gold as hard as Greece fights to hold onto it. Full Story
By: Michael Pento, Euro Pacific Capital - 7 July, 2011
Those who take issue with the outlook of Austrian economists in general, and Euro Pacific Capital in particular, have pointed to the persistence of low bond yields as proof that our philosophy does not hold water. We argue that as the United States takes on ever more debt and prints greater quantities of dollars, that buyers of our debt will demand higher rates of interest to compensate for greater risk. Full Story
By: Jim Willie CB, Hat Trick Letter - 7 July, 2011
Every few years, a tremendous opportunity arises. The autumn months of 2007 and the autumn months of 2008 offered such an opportunity to buy silver. That $11 silver price is long gone. Many smart folks seized it. Whatever can be said on such silver platters applies almost equally to gold. The silver sprint gains are typically much larger than the gold steady gains. The coming autumn months will feature a gaggle of supposed financial analyst experts backpeddling in their hasty damage control. They have been broadcasting a wide assortment of low level propaganda posing as competent analysis, as they attempt to make the point that the anti-USDollar trade is done, the gold trade is over, the silver trade is spent. They are so wrong. Full Story
SO AFTER The Economist and Harper's both tried (and failed) to tar all gold investors with the same "idiot gold-bug" brush, trust our friends at the Financial Times to mistake Western investment funds for the entire global gold market. Full Story
Gold and silver racked up another day of solid gains yesterday, providing some of the most encouraging technical signs we’ve seen in several months. Most impressive was that numerous bullion-related issues that we track were able to generate fresh, bullish “impulse legs” on their hourly charts, much as we might expect from a rally with more than merely short-term potential. Full Story
By: Adam Brochert, Gold Versus Paper - 7 July, 2011
Everyone is focused on Europe and their debt problems. The peripheral countries (i.e. PIIGS) of Europe are now being asked to sell off national assets to keep the bankers fat and happy. What a system, huh? Meanwhile, several larger states in the United States (e.g., Illinois, California) are quietly slipping into bankruptcy and beyond. Will they be bailed out? Full Story
By: Jason Hommel, Silver Stock Report - 6 July, 2011
In conclusion, it's not a "conspiracy theory" that the banks are manipulating the silver market. The BIS bank data shows the conspiracy.
And when the banks are saying indirectly, "don't trust us", given both the large amounts and large changes in their published data, it would be foolish to trust them.
It's a mathematical certainty that silver prices will explode upwards in price, and only people who hold their own silver will benefit from the major value change that's coming. Full Story
By: John Browne, Euro Pacific Capital - 6 July, 2011
Last week, the Greek parliament voted by a narrow margin to pass an economically crippling austerity plan of some $40 billion in return for some $159 billon of fresh liquidity injections. Although many hailed the event as a needed first step on a long road to recovery, I believe the austerity program will make a bad situation worse. It is a flawed solution that stems from a false premise: that Greece should continue to be part of the euro zone, and continue to use the euro as its currency. Full Story
By: Sally Lowder and Dr. David Trueman, The Critical Metals Report - 5 July, 2011
The critical metals space is shifting. In this exclusive interview with The Critical Metals Report, Dr. David Trueman, a consulting geologist, points to opportunities in global mining, processing and recycling of "-um" metals for growing electronic applications. Full Story
Historically, paying for items in silver or gold was actually quite common. We happen to live in an unusual time and place where generations have grown up trading exclusively in paper. While my parents still used dimes made of silver, we have now gone several decades with no precious metals in any of our official coinage. But this system of money by government fiat is unsustainable. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 5 July, 2011
The markets on Friday expressed relief at the Greek bailout, but as the smoke clears and the mirrors are turned away, the stark reality that no matter which way you look at it, Greece cannot repay the huge debt burden. The banks are agreeing to a voluntary reduction of the burden in an attempt to avoid a default, but voluntary bank relief or not, Greece has to default on its debt. The ratings agencies are confirming that Greece will be in default if they do not meet the original terms of their loans. They have to rule this way or see their own credibility dissipate. Full Story
Under the circumstances, investors who are stoked about adding Facebook shares to their portfolios should consider that the only way the company can boost revenues so that they are in line with the firm’s expected $50B+ capitalization is to compromise away subscribers’ privacy in new, and quite possibly appalling, ways. We don’t doubt Facebook’s ability to deliver a very precisely targeted audience to advertisers, but don’t be surprised if this requires using increasingly intrusive and aggressive tactics that will tend to drive Facebook subscribers to other social-networking venues. Full Story
By: Julian D. W. Phillips, Gold Forecaster - 4 July, 2011
Premier Wen Jiabao has just completed a tour of Europe. When you listen to the media, they will inform you of the benefits to the countries visited, but there is another agenda that is not highlighted. Look at what is happening in China –gold markets and the activities of the central bank in that market—and a very clear picture emerges of what is likely to happen with gold as China moves towards its prime objectives. Full Story
By: Bob Chapman, The International Forecaster - 4 July, 2011
Most sovereign world states are going to experience the same financial and economic bloodbath - all those fiat currencies re going to fail. Why do you think China, Mexico, Russia, India, Iran, Argentina, Thailand and others are buying gold? It is because they know their currencies will have to be backed by gold, or they will be worthless. Mexico may soon back their currency with silver, which is natural because it is the world’s second largest silver producer. Gold and silver are the only safe places for your wealth to be. Full Story
Given that the majority of debt has neither been written off nor paid off but simply transferred, the problem of excessive debt is still waiting to be resolved. There has been no deleveraging, only an adjustment of booking entries from the private to the public sector. The quantitative easing has left monetary stability short on credibility, and it will be very difficult to remedy this situation. In this fragile environment gold will continue to thrive Full Story
What would libertarians – even conservatives – give today in order to return to an era in which the central government extracted 1% of the nation's wealth? Where there was no income tax?
Would they describe such a society as tyrannical? Full Story
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