By: Bill Bonner & The Daily Reckoning Crew - 5 September, 2008
-A lot of jamboree-ing going on…the jobs numbers are in - and surprise, surprise…they aren't good… -Only YOU can prevent fiscal forest fires…the dollar is still standing strong - but is it all smoke and mirrors? -Don't lose faith in commodities…foreclosures hit a new record high…the next shock to the property sector…and more! Full Story
Something big this way comes. Events will center upon the arch-nemesis of gold, the USTreasury Bond. Market interference is too huge, for bonds, for bank stocks, for the entire financial sector. Banking system structures are too broken. The pillars of the USEconomy are all in deep trouble, with profound deficits and insolvency the rule of the day. Full Story
A recent posting by Ted Butler analyzing the sudden sale of an additional 27,606 COMEX silver contracts by 2 banks as of August 5th has created renewed interest in the possibility that COMEX silver is manipulated. Not surprising, given a $6.00 collapse in silver concomitant with the placing of this short side bet. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 5 September, 2008
In recent months, investors have been unjustly chastised for their lack of consistency. In truth, they have an unblemished record of drawing the wrong conclusions. Last week’s 2nd quarter GDP report provides the freshest evidence of market cluelessness. Full Story
-The news emanating from the U.S. Economy and Financial Markets is extremely negative. -Various Harbingers (see below) indicate the news will be worsening considerably. Thus we sit at the beginning of an Impending Perfect Storm in the U.S. Economy and Markets, a storm which will reverberate around the world. -There are nonetheless considerable Opportunities for Profit and Protection for those who are informed, who act quickly, and whose visions are not distorted by manufactured “news” in the Mainstream Media, or by Delusion or Denial. Full Story
ONCE UPON A TIME money meant gold (and ever less silver), freely exchanged between private individuals looking to buy and sell, invest and spend. But then came the 20th century. Full Story
By: Scott Wright, Zeal Intelligence LLC - 5 September, 2008
With seven consecutive years of rising gold prices, the gold mining industry has had ample reason to boost output. The demand for gold has grown and will continue to grow and legendary profits can be won for shareholders. But in provocative fashion not only have the gold miners been unsuccessful in growing supply, global mined gold production is down since the beginning of the bull. Full Story
It’s an interesting time to be in the financial markets. The return of the “Crack up Boom” series is a result of the amazing amount of MONEY and CREDIT creation that is going to be required to RECAPITALIZE and re-inflate the G7 economies. Money and Credit creation are the fuel and lifeblood of the G7 economies. Misstated inflation is reported as GROWTH; as the OVER-the-COUNTER debacle unfolds and vaporizes the balance sheets of the G7 financial and banking systems rendering many of the biggest players INSOLVENT. Full Story
Actual losses in the US real estate market are much higher than what you have been reading in the newspapers recently. Using a combination of official government statistics and the most widely used index of housing values, we will demonstrate that the US real estate market has lost a total of $6 trillion in value in the last two years. Full Story
A headline which caught my attention today involved none other than J.P. Morgan and their announcement that – facing a federal probe - they were going to “exit” the municipal bond market. Full Story
If you were as die hard as me, as opposed to being a strict trader, you have felt the pain despite being aware of the 'all one commodity complex' hazard that has gone off in precious metals like a time bomb. But if you are a for real, alternatively wired contrary sort you are getting so bullish right now you can feel a strange greed welling up within your being at the thought of things finally aligning in a way that makes sense. Full Story
Gold had its worst month for 25 years in August with prices correcting by more than 20 per cent from the all-time high of $1,030 an ounce seen this March. But there are many good reasons to believe that gold will bounce back in September, both as a hedge against surging inflation and a currency which no central bank can control at a time of a global financial crisis. Full Story
Everyone can look at the data and form their own conclusions. But when silver is in short physical supply, commanding injuriously high premiums and difficult to locate; when investors are piling into the silver ETF in droves, a 40% silver price plunge is not only not warranted, it smells. Full Story
By: David Morgan, Silver Investor - 5 September, 2008
The above adage is well known by precious-metals investors; in fact I used this quote in one of our monthly reports. I recall how many inquiries we received, asking if indeed I thought this summer (2008) would show the pattern similar to most summers for the precious metals. At times I questioned which direction the metals would break, but stated, as mentioned in last week’s column, our analysis forecast a long correction going into August 2008. Full Story
Dark and powerful forces oppose gold & silver, as these precious metals are the historical clarion call that could derail the funding mechanism of their illicit power. The Federal Reserve, elements of the US Government, and the shadowy corporate fascists behind them can only manifest the illusion of wealth, but they are magicians of the highest order. What they create is debt, but their illusion of money shines like gold! It looks like silver! Full Story
The previous seven articles on the Goldsmiths by this writer discuss them in the context of hundreds if not thousands of years of work. In the case of perhaps the number one goldsmith of all time, Mayer Rothschild, one must wonder how he could be involved for the last 200 years since he died in the early 19th century. Full Story
By: Richard Daughty, The Mogambo Guru - 5 September, 2008
And while I have never, to my knowledge, recommended that people 'act like pawnshops', I will note that they are accumulating gold, and so the advice seems like good advice, as opposed to my Usual Mogambo Crappy Advice (UMCA)! Full Story
By: Rick Ackerman, Rick's Picks - 5 September, 2008
See if you can spot the factual error in this leader Friday from the Associated Press: “Dejected investors sent stocks plunging Thursday, hurtling the Dow Jones Industrials down more than 340 points after retailers and the government added to a mountain of bad economic news and devastated hopes for a late-year recovery.” Give up? The error is subtle, but if you asked yourself, “A late-year recovery from what?” then go to the head of the class. Full Story
What’s been cushioning Gold and Silver’s break has been a lack of confidence in world credit markets. The commodity bubble burst a few weeks ago. With that burst you’ve witnessed a $40 break in Crude Oil; Corn has broken $3 a bushel and so on. As this has taken place, Gold and Silver fell as well, but not sharply. Now, with investors questioning what is safe, both gold and silver in my opinion are ripe for protective buying. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 4 September, 2008
-Gold's taking the plunge…oil's low now - but how long will it stay that way? -What to avoid in this market - and what to buy…back in the good ol' U.S. of A… -The eternal boom has come to an end…it looks like the Big 3's going to get their bailout…and more! Full Story
By: Bud Conrad, Casey Research LLC - 4 September, 2008
The role of the U.S. as the world’s dominant economic superpower is now challenged by an out-of-control growth in debt and a deterioration in its reputation as a financial haven. The dollar is losing its special status as the global “reserve currency,” is leading, in turn, to higher inflation, higher interest rates, weakening financial assets (stocks and bonds) and runaway prices for commodities. Full Story
By: Roy Martens, Resource Fortunes LLC - 4 September, 2008
Although Gold is back above the 14 d. MA we have to be prepared for a disappointment and see it come down again. The resistance could prove to be much too strong to break. If the resistance stops this current bounce it will be just a matter of time before the support zone at $775 is targeted once again. Full Story
Buying patterns have changed the past few weeks and this may indicate things may be about to reverse. Some stocks which have looked dead and buried (price wise) are still showing signs of life as the selling abates and some tentative buying emerges. The lack of volume in the selling may be alluding to sell side exhaustion and now the buying we are seeing is a strategic and carefully planned mop up operation. Full Story
Let’s face it, nothing has changed and investors need to stay the course. Sure it is difficult to hang in there in these challenging times, but if you believe (as do we) in the long-term bull market in the commodities including gold and silver, then you must exercise patience and good judgment and do not panic. Do you want to be selling now, at these low prices? Of course not. Full Story
As a final thought from Rome, this is the place where a great empire rose and fell and in the process devalued its currency. Yet in the Capitoline Museum today I saw gold and silver coins that have preserved their buying power over two thousand years - what else offers this protection against inflation? Full Story
By: John Browne, Senior Market Advisor – Euro Pacific Capital - 4 September, 2008
As we enter the height of the hurricane season, it may be worthwhile to recall, when considering the economy at large, the particular deception that lurks in the “eye” of the storm. After a raging tempest, the sudden appearance of the calm ‘eye’ can all too easily encourage people to leave their shelter in order to assess and even repair damage, exposing themselves to the often more devastating second leg of the hurricane. Full Story
Franklin D. Roosevelt’s attitude on world events is well known by informed persons today. He saw no role for chance or accidents in explaining world events. His position was—if it happens, it was planned that way. Full Story
By: Richard Daughty, The MOGAMBO GURU - 4 September, 2008
I am laughing insanely at the sheer hilarity that inflation is estimated to be 1.2%, and yet I am so scared and outraged at this insult to my intelligence that my teeth are clenched and grinding so hard that sparks are actually flying out of my mouth… Full Story
By: Short Fuse & The Daily Reckoning Crew - 3 September, 2008
-Black goo down…the U.S. - looking good compared to everyone else… -Selling euros based on the future…saving sound money with golden hamburgers… -U.S. consumers not out of the woods just yet…get ready for a long winter…and more! Full Story
By: Bob Chapman, The International Forecaster - 3 September, 2008
Fannie and Freddie, the Scylla and Charibdis of the real estate world, should be allowed to fail. There are no "if's," "and's" or "but's" about this issue. The morons who recommended investment in these monstrosities, whether in bonds, in preferred stock, but especially in their common stock, ought to have their empty heads examined. Full Story
By: Jason Hommel, Silver Stock Report - 3 September, 2008
For the last two weeks, I've asked my readers to go to their local coin shop on Tuesday, September 2, at 2PM. In sum, for those who acted, they were alone. Most shops were out of silver, or nearly out. Dealers want you to pay up front for silver that may take 5 weeks or more for delivery. Full Story
With U.S. home prices crashing, inflation expectations rising, and consumer confidence plummeting, you would think that the U.S. economy would be shedding jobs at a pace comparable, at minimum, to previous recessions. This hasn’t been the case, at least not yet. Rather, despite posting job losses in each of the last 7-months U.S. nonfarm payrolls have held up surprisingly well this year. Full Story
By: Richard Daughty, The MOGAMBO GURU - 3 September, 2008
I find myself getting up and finding out that the National Debt is now a terrifying $9.608 trillion, and which is up a whopping $637 billion from this time last year, while the government only admits that they borrowed half that! Yikes! Full Story
By: Bill Bonner & The Daily Reckoning Crew - 2 September, 2008
-Ah summer, we hardly knew ye…French may be the language of Proust, but English is the language of money… -Oil drops to a four-month low…gold dips near our target buying range…and the dollar rallies… -Poor John McCain…blue gold is still golden…everything tastes better the 'old-fashioned way'…and more! Full Story
In the following paragraphs I will outline and explain how a major bank or banks, in likely concert with the U.S. government, pulled off financial shenanigans that will literally take your breath away. This is an outrage that cannot be allowed to stand. Full Story
Gold is a political metal, where to this day its primary movements are still governed more by politics than any other factor taken in the proper light. You see it’s all about the dollar ($), and it’s role as global hegemony, where post World War II its imposition as the world’s reserve currency was in effect de facto / soft colonialism and economic domination. So, gold’s rise since 2001 is actually the measure of global de-colonization in effect, with recent actions taken by Russia in Georgia an acceleration of the trend. Full Story
I have always found it difficult to make the logical step from cheap credit – which sounds so helpful – to financial collapse, which seems so regularly to follow it. This story shows how the route passes through overcapacity. Full Story
The writing is on the wall for the resurgence of uranium mining and exploration. Cameco’s “buried” news story is just the start of what should be an exciting year ahead for uranium investors. The days of overnight triple-digit gains from uranium stocks may be over, but there’s still plenty of opportunity out there for market-beating returns in uranium. Full Story
Confused about the latest sell-off in gold? Confused about the contradicting explanations coming your way through all kinds of financial media? Will this latest correction be proven temporary? Or did we just witnessed the end of the gold bull market? Has deflation arrived as many analysts want you to believe? Or are we heading for a hyper inflationary recession? Full Story
By: Steven Saville, Speculative Investor - 2 September, 2008
The gold market analyses put out by the likes of Gold Fields Mineral Services (GFMS), the World Gold Council (WGC) and most major banks invariably concentrate on things like jewellery demand, new mine supply, and scrap supply. This means, in effect, that they concentrate on supply/demand influences that are so small in relation to the total market for gold as to be almost irrelevant. Full Story
Gold bugs now face a unique opportunity to profit from the fluctuations in the markets. But in order to understand this it is necessary to understand the relation between economics and politics. The decline in gold from mid-July to mid-August was brutal, and few predicted it. But it is now over, and those who sell at the present time will be selling at the bottom. Full Story
To most, the appearance and severity of the current crisis is unexpected. To Professor David Hackett Fisher, author of The Great Wave, Price Revolutions and the Rhythm of History (Oxford University Press 1996) the crisis and its severity was both expected and understood. Full Story
It is only prudent to take a few preparations when you are fairly certain a storm is approaching and yet what about the approaching financial storm? A recession is possibly on the horizon. Whether the federal reserve can pull another rabbit out of its hat is still to be seen. And even if they can, will it only put off the inevitable clearing of debt a little longer and make it even worse when it finally arrives. Full Story
Since January we’ve discussed the influence that the 6-year cycle would have over the year 2008. Already we’ve seen many tokens of its impact, primarily in the financial markets. The late banking crisis and subsequent spillover into other areas of the market have been one of the most prominent features of this year. Full Story
By: Rick Ackerman, Rick's Picks - 2 September, 2008
"What Will Save America?" We raised the question a while back, inviting readers to submit short essays on the topic. More than 50 of you responded, some with the kind of ideas that are all but certain to percolate into the presidential campaign as it heads down the home stretch. There can be little doubt the recession will grow more severe between now and November, even if it has yet to be officially acknowledged. Full Story
By: Richard Daughty, The MOGAMBO GURU - 2 September, 2008
I'm a guy who is an investor in silver, and who would be a BIGGER investor in silver if my stubborn wife was more reasonable about how to apportion my pitiful income among the various clamoring creditors and greedy children… Full Story
It appears that the economy is stuck in stagflation mode. The Commerce Dept. reported that real disposable personal income fell 1.7% in July following on the heels of a 2.6% decline in June. Full Story
The market was somewhat positive during the week but that impression seems to fall apart when one takes a good look at the daily figures. Two days on the down side. Two days where gold closed lower than where it opened. Only one day where gold closed higher from the open AND previous close. 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: Robert Kiyosaki of Rich Dad, Poor Dad Full Story
By: Bill Bonner & The Daily Reckoning Crew - 1 September, 2008
-Taking a day off to celebrate labor seems like an oxymoron to us…a look back at our productive summer… -Calling what's happening in the economy a 'credit crunch' is misleading…most likely, this is just the beginning of the trend… -Farming is always a boom and bust business…an innocent and necessary pretension…and more! Full Story
The latest severe correction in the dollar price of gold and devastation in the price of silver illustrates my point. The only rational explanation for this extraordinary decline in the midst of an extraordinary monetary crisis is the disconnect between the price of paper gold and the price of real gold. Full Story
By: Richard Daughty, The MOGAMBO GURU - 1 September, 2008
The Fed and the other central banks say they are finally, after all these years, going to restrict credit and keep the money supply from growing, to keep inflation from growing, like as with gold-backed money? Full Story
By: John Mauldin, Millennium Wave Advisors - 1 September, 2008
When is the credit crisis going to end? How will we know? The credit crisis is getting ready to enter its second phase. This week we examine what that means, and what the economic environment will look like over the coming quarters. We also (sadly) re-visit Freddie and Fannie and examine the risks that they put into the markets. Full Story
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