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Weekly Archive
By: Bill Bonner & The Daily Reckoning Crew - 9 November, 2007
-The financial world is a perpetual motion machine…here come the question marks…on a bubbly sea of shifting exchange rates…
-Bank vaults change stocking options…Ben Bernanke is no Paul Volcker…finance peaks out its head…
-How-to-translate-Greenspeak decoder rings…consumers not so confident about Christmas…when stones turn to loose sand…and more! Full Story |
By: Peter Schiff, Euro Pacific Capital, Inc. - 9 November, 2007
Recent reports of better than expected job growth and a 3.9% gain in 3rd quarter GDP have spawned much talk about how the resilience of the American consumer is enabling the country to weather the subprime storm. In reality, the unfolding financial crisis on Wall Street is in fact a direct result of the deteriorating economic conditions on Main Street. Full Story |
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 November, 2007
What looks to be persistently high gold sales by the signatories of the Central Bank gold Agreement in the first month of the fourth year of the five year agreement, we contemplate what lies ahead for the agreement and the sales from there. Full Story |
By: Adam Hamilton, Zeal Intelligence LLC - 9 November, 2007
Gold, which was a scoffed-at pariah not too many years ago, suddenly finds itself on the verge of being almost sexy again. With this metal now challenging its all-time nominal high from January 1980, I am hearing from more ordinary non-market-following folks who are newly interested in gold investing. Full Story |
By: Adrian Ash - 9 November, 2007
THE FRENCH PRESIDENT was in Washington this week, speaking to Congress en Français and telling the United States to stop dumping Dollars and risking a global financial crisis. Full Story |
By: Brady Willett - 9 November, 2007
Bernanke’s larger than expected 50 bps cut on September 18 helped spark a sell off in the U.S. dollar. A deteriorating outlook for the U.S. economy and another Fed rate cut on October 31 accelerated the dollar’s decline. Fear has taken over in November… Full Story |
By: Deepcaster - 9 November, 2007
Gold and Crude Oil have been threatening to "go parabolic" recently, with robust spikes to record highs, punctuated with threatening spikes down. And equities have recently approached record highs with the DOW, flirting intermittently with 14,000, leading the way. Full Story |
By: Jim Willie CB - 9 November, 2007
The public and investment community continues to be bombarded with denials as to the importance of the seemingly endless slide in the USDollar, along with curiously shallow commentary that the US$ slide seems overdone. The US$ exchange rates could justify a 50% decline from here, out of sheer principle, not based upon the relative price of milk cartons or taxi rides. The comprehension of the gold breakout signal seems equally misunderstood and minimized. To be clear, the people have begun to sense with alarm the nature of the energy cost problem, but do not detect its weak currency roots. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 9 November, 2007
But current retirees can relax, as 'The lower inflation-proofing would only apply to future entitlements. Past entitlement would continue to enjoy the more generous inflation protection.' Hahaha! 'More generous'! Full Story |
By: Rick Ackerman, Rick's Picks - 9 November, 2007
For those who attempted to trade yesterday, the yo-yo action may have seemed like a game of “fetch” with a dog. You toss the ball as far as you can, Fido brings it back to you, panting for more. You fling the ball even harder the next time. Pooch tirelessly retrieves it, then does it again. Full Story |
By: Doug Casey and Chris Gilpin - 8 November, 2007
The depletion of the world’s cheap hydrocarbons is now a foregone conclusion. The timing of when this goes from being a nuisance to a problem to a full-blown crisis is difficult to gauge, but peak oil, as an argument, is the correct argument. The U.S. reached its peak oil production in 1971, and I have no doubt that the world will do so within a generation, more than likely encouraged by more blunders in the Middle East. Full Story |
By: Ira Epstein - 8 November, 2007
There comes a time when markets correct overbought conditions, go through profit taking spells or simply don’t have “new information” to keep trends advancing. I think that is where gold and silver markets are today. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 8 November, 2007
-Cooking the books blows up in the kitchen…a rusty motto in New Jersey… the masters of the universe are getting beaten up…
-The fly in America's imperial ointment…children and horses will drain your wallet…free coffee for a sensible Frenchman…
-Keep your fingers crossed…'need-to-have' trumps 'nice-to-have'…this year's Christmas stealing Grinch…and more! Full Story |
By: Gary North - 8 November, 2007
The assurances about the subprime crisis being contained are not coming from real estate experts. They are coming from people who have built their careers and reputations as permanent bull market advocates. This means that they have built their careers on the Federal Reserve System's ability to sustain the stock market with fiat money. They did well under Greenspan. They will do much less well under Bernanke. Full Story |
By: Bob Chapman, The International Forecaster - 8 November, 2007
Someone doesn’t believe the government’s figures. Yes, we know there is a credit crisis and that the banks and others will be writing off hundreds of billions of dollars, but too many investors and professionals are finally realizing that our government lies about everything. Inflation is over 11% and government expects us to believe we have the lowest inflation in 50 years. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 8 November, 2007
At first, I thought that he was insulting me by expecting me to believe such stupidity - that price inflation would fall because oil went up in price, but he holds up the actual news article from MarketWatch.com, which confirms… Full Story |
By: Rick Ackerman, Rick's Picks - 8 November, 2007
Who stands to lose, and how much, as a consequence of the dollar’s historical plunge? For one, there’s China, which currently holds $1.43 trillion dollars in reserves, mostly in the form of U.S. Treasurys or cash. Then there’s Japan, at $923 billion, followed by Taiwan ($263 billion), South Korea ($257 billion), and Russia ($400 billion). Oops. Almost forgot the biggest bag-holder of them all: Europe Full Story |
By: Thomas Tan, CFA, MBA - 7 November, 2007
Gold has had a great run lately. As I indicated in one of my previous blogs, if you look at the long term monthly close chart of gold, $700 provides a major resistance, because gold had never stayed above $700 for over a month in its entire history, neither in 1980 nor in 2006, until now. Full Story |
By: Michael Nystrom - 7 November, 2007
Judging from recent market action - oil approaching $100, gold nearing its all time high of $850, and the dollar setting new all-time lows daily - things indeed appear to be getting more serious. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 7 November, 2007
-From liquidate to liquefy…elegant and sophisticated nonsense…obvious to freshman math students…
-Standing blissfully apart from investor hysteria…acting normal, while abnormally spooked…a Brazilian model who agrees with Warren Buffett…
-Investors sober up, despite the Fed's open bar…a market full of worrywarts…plenty of footholds for a golden climb…and more! Full Story |
By: GoldSeek.com Radio - 7 November, 2007
GoldSeek.com Radio Gold Nugget: Jim Rogers & Chris Waltzek
Full Story |
By: Dr Thomas Chaize - 7 November, 2007
The gold, the silver and the index HUI left for a new "gold rush". The subject of this article is to remind the objectives of increase of the ounce of gold, silver of the HUI already indicated in previous subjects drafted during more quiet periods. Full Story |
By: Justice Litle - 7 November, 2007
Whoever next occupies the White House, and however Argentina’s new President fares, the coming years will be a time for caution and courage in equal measure. The key will be finding ways not just to survive, but to thrive. As the Porteños like to say, “Buena Suerte!” (Good luck!) Full Story |
By: Dudley Pierce Baker - 7 November, 2007
Investors in gold and silver have been richly rewarded the last few weeks as they have exploded to the upside. As we write this on Wednesday morning, gold is sitting on 839 (up 19) in the spot market and silver at 15.64 (up .40). Full Story |
By: Bill Murphy, Le Metropole Cafe, Inc. - 7 November, 2007
Is this gold move a big deal? No … $1350 bid would be a big deal. Right now there is little belief, understanding, or enthusiasm over the moves in gold and silver. Most observers are looking cross-eyed at the price rises and remain clueless as to what is happening and why. Full Story |
By: Ned W. Schmidt,CFA,CEBS - 7 November, 2007
As this week's chart portrays, Gold has provided a far higher return than U.S. paper equities. Am really starting to feel some sorrow for those that have been duped by Street and business media into keeping their wealth mired in paper equities. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 7 November, 2007
So Mr. Mishkin joins Alan Greenspan, running around saying, 'It's not my fault! It's not my fault!', when the whole world spent all that time watching him and the Fed bludgeoning the dollar, then standing over the prostrate, bloody body of the dollar, holding the murder weapon in his hands! Full Story |
By: Rick Ackerman, Rick's Picks - 7 November, 2007
You don’t need to be a chartist to feel the weight the Dow Industrials have imposed on bulls of late. Imagine that the enhanced, red price bar is a surfer intent on paddling over the gathering swells. They are so high, however, that he would not be able to even see the top of the first, let alone the scary crests mounting behind it. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 6 November, 2007
-The erupting volcano of credit contraction…Wall Street makes itself obnoxious…a golden parachute for a kick in the pants…
-Learning from Japan…the outer edges are the first to feel the squeeze…You Can't Take it With You is too American…
-The first to reach $1,000 bn…a bag of cheap options on cool emerging markets…no buying your way out of a this Peak Oil mess…and more! Full Story |
By: Adrian Ash - 6 November, 2007
The current surge in gold prices doesn't only reflect Dollar weakness. Confidence in all official currencies is evaporating fast – and with today's current crop of central bankers in charge, is it any surprise? Full Story |
By: Christopher K. Potter - 6 November, 2007
The price of gold should be $2,500 per ounce. While this may appear to be an overly optimistic projection, it is reasonable when analyzed in the context of today’s highly inflationary environment. Inflation occurs when central banks create excessive amounts of money and today we are in the middle of the largest money creation exercise in history. Since 2000, the supply of US dollars has grown by 84% and since the early 1970s, when official dollar convertibility into gold ended, the number of dollars in circulation has grown by over 1400%. Full Story |
By: James Cook & Theodore Butler - 6 November, 2007
What we have in silver is a material problem, not a money problem. Most problems we have in the world currently are money problems. The credit crisis, the housing situation, the dollar, even the gold short position are money problems. At some price and for some amount of money, these problems can be solved. Not so in silver. Full Story |
By: Peter Grandich - 6 November, 2007
The gold market continues to unfold pretty much as I have laid out since returning back to the bullish camp in the spring of 2003. I have stuck to my guns on wanting to be over-weighted towards gold versus financial assets and as of today, I think the results have proven that to be the best course of action. Full Story |
By: Sol Palha, Tactical Investor - 6 November, 2007
This is 29 year chart of Gold and it very clearly illustrates that gold is in a very strong uptrend and has broken through a major zone of resistance. As this is a very long term chart this is a rather bullish development and as long as Gold now remains above 750 the intermediate outlook is going to be very bullish. As stated before the next target is now 900. Full Story |
By: Steven Saville, Speculative Investor - 6 November, 2007
We've included the following long-term chart of Cameco (NYSE: CCJ), the world's largest uranium producer, to illustrate the uranium sector's tendency to reach an intermediate-term peak during the first four months of the year. Full Story |
By: Rob Kirby - 6 November, 2007
This should raise serious questions as to what J.P. Morgan along with the rest of their banking brethren and their cronies over at the Federal Reserve are really doing? The sheer enormity and volumes of transactions being recorded is begging for answers. The fact that none are forthcoming and the mainstream financial media refuses to acknowledge that anything is even amiss should scare us all. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 6 November, 2007
Mitigation? I read this, and then I look at how Mr. Shiller is a 'famous Yale university economist', and I think to myself that famous or not, Yale or not, this is a pretty stupid thing to say… Full Story |
By: Rick Ackerman, Rick's Picks - 6 November, 2007
The Dow Industrials rallied to finish a hundred points off their lows yesterday, suggesting that Wall Street half-believes that Citigroup and Merrill Lynch are the only financial giants with really big problems. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 5 November, 2007
-An English breakfast for over $10…spendthrifts without the negative side-effects…stock research based on good coffee…
-The loneliest American wealth pillar…flation with a capital 'D'…the worldwide importance of U.S. consumers…
-Mobile homes NOT worth $1.5 million…"phantom equity" used to buy plasma TVs…supermodel insurgence against the U.S. dollar…and more! Full Story |
By: Roy Martens - 5 November, 2007
Because we are now in “uncharted” territory, it is difficult to pinpoint resistance and price targets for this current move, unless of course we look at the way back to the highs made in the early eighties. Full Story |
By: Captain Hook - 5 November, 2007
Needles to say, Friday was not a good day for stock market bulls. Media types are attributing the fall in stocks to the market finally waking up to the fact the credit crunch is worse than previously thought, and in a sense they are correct. Full Story |
By: Brady Willett - 5 November, 2007
In short, it is the calls that Rubin and others make, most of which we never find out about, that make it impossible for regulator and investor interests to perfectly align. Full Story |
By: Boris Sobolev - 5 November, 2007
While many market observers are waiting for a correction, gold is pushing relentlessly higher. After it powered through $700/oz, pullbacks on gold became short and shallow. A correction in gold will no doubt come, but we are not willing to bet money on how soon it will occur and how serious it will be. Full Story |
By: Merv Burak, CMT - 5 November, 2007
Despite all the short selling, gold seems to be unstoppable. Where and when will all this end? Your guess is as good as mine. Full Story |
By: Nadeem Walayat - 5 November, 2007
My last analysis of the US Stock market of 7th October 2007 suggested a corrective downtrend of the uptrend from the August lows was about to begin and to last to around the 22nd of October, which was to be followed by a resumption of the uptrend towards new highs this year. However last weeks price action has changed the price pattern to imply a possible ABC correction into a lower low during November, which this analysis now evaluates the probability of. Full Story |
By: Douglas V. Gnazzo - 5 November, 2007
The name of the game is inflation of the money/credit supply to feed and service the overwhelming debt service charges (interest payments, etc.). All the excess credit is sloshing around the world causing asset bubbles wherever it washes ashore. Our number one export is INFLATION. We are pawning our scourge off onto other nations. Full Story |
By: radio.goldseek.com - 4 November, 2007
1st Hour:
Headline news & market forecast.
Spotlight Picks with big dividends.
The International Forecaster and Chris Waltzek answer listener questions.
2nd Hour:
-Bob Hoye
-Warren Buffet (YouTube) Full Story |
By: Clif Droke - 4 November, 2007
Now what about gold stocks? Here we are in the month of November, a time known for showing seasonal improvement of the mining stock sector. December-January are normally the best months of this seasonal time frame but sometimes November can be positive as well. Full Story |
By: Bob Chapman, The International Forecaster - 4 November, 2007
Here we are four months into a credit crisis and it is only 5% resolved. We believe this crisis has a long way to go as the interbank system attempts to restore confidence and trust. The traditional buyers of short-term corporate debt, better known as commercial paper, are still on strike and there is no end in sight. Full Story |
By: Roland Watson, The Silver Analyst - 4 November, 2007
Last week I mentioned how silver was underperforming gold at this present time but demonstrated that this was something to be expected. Silver lags gold at the beginning of a bull leg up but as if to compensate this seeming conundrum, silver will assuredly be outperforming gold at the end of the same bull leg! Full Story |
By: Clive Maund - 4 November, 2007
On the long-term chart we can see that silver is in a fine, strong, long-term uptrend that should soon force an upside breakout above the clear line of resistance approaching the $15 level, leading to another substantial advance that will likely be similar in scale and duration to the powerful run up from September 2005 through May of last year. Full Story |
By: Gary North - 4 November, 2007
Why did the Federal Open Market Committee drop its official target rate for overnight bank loans on October 31? If it was a plan to head off a stock market sell-off, it went awry. The Dow fell by 362 points on November 1. Full Story |
By: John Mauldin, Millenium Wave Advisors - 4 November, 2007
The economy added 166,000 new jobs last month, almost double the average estimate. GDP for the US came in at a blowout 3.9% growth, well above trend. The Fed cut its rate by another 25 basis points, but many observers see language in the accompanying statement which they think suggests the Fed is done with cutting, at least for now, as the economy appears stronger. Full Story |
By: Gary Tanashian - 4 November, 2007
As the rot in Wall Street's dark alleys works its way from the inside out, from the seediest hedge funds' leveraged 'investment' vehicles to Main Street's financial institutions (pensions, 401K's, savings, etc.) gold has taken center stage, closing above $800 for the first time in its still young bull market. Full Story |
By: Rick Ackerman, Rick's Picks - 4 November, 2007
Comex Gold blew past $800 with such winning ease on Friday that perhaps it’s not too early to start thinking of the supposed barrier as support rather than resistance. We wouldn’t want any cockiness on our part to jinx the next thrust, to an expected $907, but gold bugs have reason to be optimistic that this threshold will soon be reached for the first time in history. Full Story |
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