When one thinks of gold it is usually always in terms of US$. Everyone has been conditioned to think that way. But if you live in Canada you most likely pay for your gold in Cdn$ not US$. For the most part one would make their gold purchase in the local currency. The above chart is not any particular local currency. Above is a gold index expressed in a basket of local currencies. This particular index does not weight the currencies. It is an equal weighted index of currencies of the top 20 countries by GDP. Full Story
By: Adam Hamilton, Zeal Intelligence - 5 September, 2014
The Federal Reserve’s third quantitative-easing campaign is on track to wind down in late October. At that point the Fed will likely stop printing new money to buy bonds, a sea-change shift with ominous implications for the stock markets. Their entire surreal levitation during QE3 mirrored the huge growth in the Fed’s balance sheet from QE3’s bond monetizations. When they cease, another major selloff is likely. Full Story
It might as well be July in San Francisco. There’s fog about why any investor would want to hold convertible bonds in her portfolio, and I’m here to clear that fog away. Their yields aren’t high, their credit ratings often look shaky, and the bonds themselves are quite hard to understand due to their hybrid nature and built-in options. Full Story
In recent weeks we wrote about the ongoing consolidation in precious metals miners. We touched on the history of September, not as a bullish month but as an important inflection point. With the miners holding up well and Gold still holding its lows we thought a breakout could be coming. Yet we’ve been whipsawed before. Several times over the past year (and as recently as late July) we’ve written about the possibility of a final low in Gold to precede the next impulsive advance in the miners. These scenarios came to a major head this week and the nasty decline across the entire sector suggests the bears are back for one last time. Full Story
Before going further, this idea that an ‘inflation paranoia’ has been running wild for 5-years is partly being imagined by Mr. Krugman. To be sure, along with the ‘money printing causes inflation’ theme, those railing against the reckless actions from the Fed since 2008 have also argued that the Fed is punishing savers, the Fed is promoting dangerous asset bubbles, the Fed is monetizing U.S. debt, QE does not create jobs, and the Fed could, longer term, endanger USD hegemony. As efforts to ‘normalize monetary policy’ in the U.S. have yet to really begin, the verdict is out on whether the Fed’s ongoing schemes will prove a longer-term positive. Full Story
Note how gold rallied all the way up to it’s bull market high in September of 2011 while the US dollar actually put in a small higher low vs the 2008 low. That’s pretty incredible when you think about it. Gold rallied from roughly 700 to 1920 while the US dollar actually made a higher low during that same time period, double red arrows. It’s easy to lose track of these big monthly charts as it takes a long time for them to come to fruition sometimes but the big picture is most critical to grasp. Full Story
In a radio interview recently* I was asked a question to which I could not easily give a satisfactory reply: if the gold market is rigged, why does it matter? Full Story
Summary: Global currencies are rapidly declining in purchasing power. An overview of the secrets behind the international banking system, follows. The greenback will be replaced by a North American currency, modeled after the Euro, termed the Amero (American-Euro). Contingency plans are required to survive and prosper, including gold and silver assets, as well as basic necessities as paper money reaches it's intrinsic value: $0, as foretold by Voltaire 300 years earlier. Although gold investors will survive the impending economic maelstrom, most of society will be forced into financial bondage. Full Story
The Paradigm Shift has reached a higher gear. The danger and risk levels have gone to critical levels. The risk of economic destruction has gone into recognizable critical levels. The source of the problem has become more easily identified. The typical tactics not only do not work, but expose the bully, the warmonger, the hegemony advocate, the wizard of violence, the imposer of self-serving rules, the crime syndicate bosses, the masters of espionage, the man with killer drone toys. The USDollar is defended by war, market interference (see LIBOR, FOREX, debt ratings), accounting rules gimmicks, rigged detonation of banking systems, pointed assassinations for heads of state, even fabricated natural events (see HAARP in Philippines). Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 4 September, 2014
Throughout history, there have been a constant flow of schemes to try to manipulate the gold price and gold itself in terms of paper money. These have come from governments, institutions as well as from individuals. The aim has always been to either establish the value of currencies or enhance that value in terms of gold. The first key to this is to ensure that the gold price is made in the paper currency and not the price of the paper currency in gold. Full Story
In American poet W. S. Merwin’s poem “To the Light of September,” the speaker calls the ninth month “still summer,” yet with a “glint of bronze in the chill mornings.” Full Story
All the currencies of the world today are derivatives of the dollar, including the Russian Ruble and the Chinese Yuan, and even the miserable currencies of Venezuela and Argentina. As long as they can be used to purchase dollars, either officially or through the black market, they will continue in circulation. Full Story
By: John Browne, Senior Economic Consultant at Euro Pacific Capital - 4 September, 2014
On August 28th while the geographical area formerly known as Iraq descended further into chaos, President Obama announced to the world "We don't have a strategy, yet." A few days later, another brave American journalist was brutally beheaded by a slickly televised cockney-accented jihadist. Clearly things are not going well outside the bubbly confines of the S&P 500. Full Story
Here is one interpretation of when we’ll run out of each metal or energy source. While the technicalities of some of this information can be debated, I think the general theme runs the same. There is a limited supply of these commodities – and if there are no discoveries, no price changes, and no changes in consumption, we are running out relatively soon. In my opinion, there are two caveats that are always worth considering when looking at something like this. Full Story
Given the above assumptions, a reasonable projection for the EGP (a “fair” price for gold) in 2017 is $2,400 - $2,900. Remembering that market prices can spike significantly above or crash below the EGP for many months, we are likely to see a spike high above $3,500 in 2016-2018. Extraordinary events such as a global war, dollar melt-down, or an economic crash and the resultant massive increase in QE from global central banks could push gold prices higher and sooner. Full Story
Occasionally I receive comments from readers that are suggestive of topics to cover. Below is a comment I received a few days ago and I believe timely. I say "timely" because after all, sooner or later we will get to the situation described. No one really knows exactly what the fallout will be but I will take a stab at the broad picture. Full Story
Von Greyerz personally defines Financial Repression in practical terms as the “manipulation and interference by government in the running of the economy and the lives of normal people”. What this will inevitably lead to he feels will be the “total control of the people and a police state – that is the way we are going in some countries!” Full Story
One reason markets tend to get a little nervous in September is that it’s time for investors to ponder about their asset allocation for the remainder of the year and beyond. With the markets at or near record highs and the US dollar on a roll, what could possibly go wrong? Let’s look at what’s next for the dollar, gold, and currencies. Full Story
When gold prices plunged in late 2013, gold producers took notice and developed mine plans that offered greater flexibility in troubled times. But even the best plans take time. Well, it's almost time for the producers to deliver, says Raj Ray, associate metals and mining analyst with National Bank Financial. He is looking for producers with flexible mine plans that can generate cash flow against a backdrop of static gold prices; the market likes developers with advanced, low-capital intensity projects with permits in place. Full Story
If Mary Shelly were around today, she might have a cause of action against the Federal Reserve for copyright infringement. The Fed has stolen the storyline Shelly’s 1818 gothic novel, Frankenstein, The Modern Prometheus. The case against the Fed’s criminal usurpation of intellectual property is strong; any schoolboy would see the obvious plagiarism, including the plot, the central characters, and even some of the dialog of the original science fiction horror story. Full Story
Among the components of the 60-year economic super cycle due to bottom this fall is the 10-year cycle. It is this cycle which is the core component of the super cycle and is responsible for this year’s financial market behavior. The upcoming bottom of this cycle, followed by the commencement of a new 10-year cycle, will also herald a major opportunity for investors in the coming 1-2 years. Full Story
I wrote yesterday that "something will be needed to point at" in order to blame or explain a market panic. Over the weekend, Zerohedge posted an article written by a writer who goes by the name "George Washington". The article speaks of 28 pages of the 911 commissions report which is currently "classified", there is now a movement even within Congress to declassify it. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 3 September, 2014
Over the long Labor Day holiday weekend in the United States your secretary/treasurer sent the following e-mail to many financial journalists and mining company executives in the hope of calling their attention to the latest smoking-gun proof of central bank intervention against the gold market and other markets. Full Story
Does this mean that one should immediately jump in and buy this significant dip as yesterday’s decline fell to within a couple of dollars of my $1,260 target? New daily gold and silver data must constantly be incorporated into updating one’s outlook for precious metals price behavior, and in my opinion, a brief perusal of yesterday’s data leads me to believe that a little bit more caution is merited, that there is a good probability we get a little more follow through on the downside and that gold prices descend to the $1,250 range now. Full Story
The precious metals sector moved sharply lower yesterday – in tune with its medium-term trend. The decline was to a large extent connected with the breakout in the USD Index. It seems that it is the U.S. dollar that will determine the short-term moves in PMs and miners in the coming days and in today’s alert we focus on this relationship. The CCI Index seems to be in a particularly interesting position as well and this is something that gold & silver traders should be aware of. Full Story
By: John Browne, Senior Economic Consultant at Euro Pacific Capital - 2 September, 2014
The current stock market is earning a deserved reputation as being coated in Teflon. Bad or disappointing news just doesn't appear to stick, and has done nothing to slow the market's upward trajectory. Bad news is good and good news is good news. But where does this all end? A minority of investors have begun to wonder whether negative geo-political risks, embodied in the steely-eyed stare of Vladimir Putin, are exerting more influence on the market than the sunny smiles of Janet Yellen. Just going by the market numbers, Yellen remains firmly in the driver's seat. Thus far this year, the S&P 500 is up more than 8% and there has been little evidence that investors fear a pull back. Full Story
A subscriber asked yesterday about the anticipated low we envision, with the possibility of one more washout before the secular bull market resumes. My answer was with the open interest put / call ratio on SLV falling (big) to .31 (a new low) as of Monday’s trade, post the August expiry, chances have of a significant decline have increased considerably, with a vexing of long-term support at approximately $17 quite possible now, if not probable in a liquidity event. Full Story
Lois Lerner’s emails are back from the dead—sort of. The former IRS official’s BlackBerry, however, is still long gone. The IRS intentionally destroyed it in June 2012 (after congressional staffers interviewed Lerner about the IRS targeting conservative groups) as the Deputy Assistant Chief Counsel acknowledged in a recent sworn declaration. Full Story
Trillions of dollars of debt, a bond bubble on the verge of bursting and economic distortions that make it difficult for investors to know what is going on behind the curtain have created what author Doug Casey calls a crisis economy. But he is not one to be beaten down. He is planning to make the most of this coming financial disaster by buying equities with real value—silver, gold, uranium, even coal. And, in this interview with The Mining Report, he shares his formula for determining which of the 1,500 "so-called mining stocks" on the TSX actually have value. Full Story
The primary unit of time measurement for high-frequency traders might be the microsecond, but for normal retail traders, it’s vital to know the best months, days and even half-hours of the day to make market transactions. Consider Black Friday, the most active shopping day of the year. Let’s say a 60” 1080p plasma HDTV normally goes for around $900 but, on Black Friday, is discounted to $500. That’s a 44 percent savings. If you had a desire to own this TV and were somehow guaranteed a way to bypass the rabid mobs, you’d be a fool to spend $900 on it the day before. Full Story
Maverick inventor creates high-tech magnet that extracts gold from sea water. Price of gold plunges to $750 per ounce. Goldman Sachs public relations specialist, Mr. I. R. Squid quoted as saying, “See, we were right and gold will drop even further... Full Story
Gold has a rough general tendency to decline during the week leading up to the release of the US Employment Situation Report (jobs report). Following the release of that report (Friday at 8:30AM), gold tends to begin a decent minor or intermediate trend rally. Gold has exhibited this trading pattern for quite some time. It is likely to continue to do so, for the foreseeable future. Full Story
Never in my wildest dreams did I envision having a job where I wrote about acronyms like "ZIRP" and "NIRP". But, I guess, never in my wildest dreams did I think that the world would get as utterly screwed up as it is. First, just to make sure we're all on the same page... Full Story
Not that you would know it by reading or viewing mainstream news last week, World War III took a very big leap towards going live. First, last Wednesday was the biggest news when Gazprom announced they would be selling oil and gas for rubles and yuan. We knew for a fact this was coming sooner or later, it has arrived. It is so important that you understand what this really means. Full Story
The Central Bank policies of the last five years have damaged the capital markets to the point that the single most important item is no longer developments in the real world, but how Central banks will respond to said developments. Let us take a moment to digest that. Before 2008, for the most part, when something happened in the world, an investor would think about how that issue would affect the markets. Today, that same investor will try to analyze how the Central Banks will react to that issue, not the impact of the issue itself. Full Story
By many accounts, palladium and platinum supplies are moving into record deficit territory, even as demand ramps up around the globe. Used primarily for catalytic converters, but also with other industrial and medical uses, not to mention investment bullion demand and applications in jewelry, these PGMs look like they are going to experience upward trending price volatility for the next few years. Full Story
Using monthly charts I want to update more big picture views of where we stand in the financial markets. This is just a brief summary [edit; okay it's not so brief. In fact it had to be ended abruptly or else it would have just kept on rambling] and not meant as in depth analysis with finite conclusions. Full Story
Gold and silver are at a critical juncture – either they break down to new lows soon or a major new uptrend is about to start. Which is it? – while we cannot be 100% sure either way, we can certainly attempt to figure which way they are likely to break. Full Story
In this Weekend Report I’d like to look at some of the Precious metals stock indexes as there was a fairly strong reversal off of the previous lows made over the last two months. It was one of those inflection points where the PM stock indexes could have gone either way. It just so happened that they all had a decent bounce off the lows with the last two days being up. We’ll examine some of the PM stock indexes in a minute but I would first like to show you the BPGDM as it’s still on a buy signal that was generated three weeks ago. Full Story
By: Rick Ackerman, Rick's Picks - 2 September, 2014
I’m starting to warm once again to gold. Like many of you, I never gave up on it, I had just grown too bored to care. With the bear market in bullion about to enter its fourth year, who could be blamed for losing interest? Gold has looked so punk for so long that every time it rallies sharply, I get that nagging feeling, as you probably do, that we’re about to get sandbagged for the umpteenth time. So why the change of heart? Full Story
Louis Navellier is Chairman of the Board, Chief Executive Officer, and Chief Investment Officer of Navellier & Associates, Inc., located in Reno, Nevada. Mr. Navellier is also editor of four leading stock advisory newsletters: Emerging Growth, Quantum Growth, Blue Chip Growth, and Global Growth. With a degree in geophysics and a number of fascinating summers in mining exploration, one winter in "the bush" quickly led Bob into the financial markets. This included experience on the trading desk and in the research department of a large investment dealer, which led to institutional stock and bond sales. Full Story
By: Rick Ackerman, Rick's Picks - 1 September, 2014
I am providing tracking guidance for a round lot whose cost basis has been reduced by profit taking to 33.85. Since there’s upside potential to 49.54 (see inset), we’ll have time to augment our position ahead of any big move. The last time we attempted to do so was by bottom-fishing a midpoint support that got taken out. If we try this again, it will be with the expectation that corrective abc patterns do not exceed their respective midpoint supports. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 1 September, 2014
First, many gold and silver mining executives are simply uninformed. They tend to be technical people with a background in geology rather than financial people with a background in markets. As a result most have little idea of the monetary nature of their products, little idea of the competition those products present to government-issued money, and no idea at all about how the price of their products is suppressed by the creation of vast imaginary supplies in the futures markets to prevent competition with government money. Full Story
As I begin my 15th year of writing Thoughts from the Frontline – some 700-odd newsletters plus 400–500 editions of Outside the Box, 6 books, and scores of special reports – I decided to take a random walk back through some of my writings (and your comments!). With some glaring and notable exceptions that I would like to take off the internet (but won’t because to do so seems somewhat intellectually dishonest), the body of work has held together pretty well Full Story
Modern achievements, especially in medicine and technology (fueled by cheap energy), have made the human experience longer and easier. Yet, at the base of it all lays the irrational man, still flinging immorality from the cages of his ongoing existential dilemma. Despite the existence of natural governors, humans are still prone to abuse of power for the sake of power alone. Full Story
For close to 300 years, inflation in the US remained very subdued. Small spurts occurred around major wars (Revolutionary, Civil, WW1, etc), but after each, inflation quickly trended back down to its long-term baseline. If you lived during this stretch of time, your money had roughly the same purchasing power your great-grandfather's did. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 1 September, 2014
Those who expect the stock market bubble to pop may want to reconsider as long as central banks are prepared and equipped to buy everything. This dispatch will be sent separately to representatives of most major Western financial news organizations. Will even one of them decide that comprehensive surreptitious market intervention by central banks is news? Full Story
The lies and deceit coming from Western governments continue unabated, whether it is [Pollyanna] economic news that is non-reflective of existing reality or more false flag “war” news that is also non-reflective of existing reality. Whether it be Obama, Cameron, or Merkel, supposed leaders of their countries but totally failing to provide leadership, each can best be described as pimps for the banking elites. Full Story
When ArabianMoney first pointed out back in March that the so-called separatists in the Crimea were in fact Russian soldiers out of uniform we got quite a few protests from angry readers who said we had no evidence to make this claim, apart of course from what we could see on TV with our own eyes. Full Story
U.S. markets and leading stocks continue to show strong and positive action, mostly early in the week. It really has been a great August, and that is rare, but it just shows that you must always be paying attention to things and can’t rely wholly on historical or past norms. Does this mean the usually strong fall period will be weak, or does it mean it will be extra strong? Full Story
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