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Weekly Archive
By: Bill Bonner & The Daily Reckoning Crew - 9 March, 2007
-Stay-at-home plodders…the gush that keeps on gushing…
-Rejected like the prom queen's mom…bury your wealth in a bank…
-That gold coin is made of chocolate!…freedom toast for a poor buffoon…and more! Full Story |
By: Peter Schiff, Euro Pacific Capital, Inc. - 9 March, 2007
With today’s relatively benign jobs report coming in close to the consensus forecast and with the stock market comfortably above Monday’s low, most on Wall Street are breathing a sigh of relief. The popular position is that last week's turmoil was simply a speed bump on the road to greater prosperity, and that a recession and a bear market are low probability events. As you may imagine, I beg to differ. Full Story |
By: Adrian Ash - 9 March, 2007
Outside the securities market, gold flirted with "absolute neglect" for nearly 20 years – and it traded at a growing discount to paper assets until the start of 2001. No one wanted the damn stuff all through the '80s and '90s. At least, not enough fund managers to pull the metal out of its two-decade bear market. Full Story |
By: Deepcaster - 9 March, 2007
Deepcaster uses the term “Impending” qualifiedly since the Real Data shows that the U.S. economy has been in a stagflationary condition for some months now. But given the probable duration and depth of the Stagflation to come, the use of the word “impending” is nonetheless appropriate. Full Story |
By: Michael Nystrom - 9 March, 2007
Schiff pulls no punches in unmasking the rosy statistics that the government and its corporate media accomplices foist upon an unsuspecting and gullible public. The US economy is a paper tiger, and Schiff wastes no time getting straight to work with the shredder. "America.com" as he calls us, referencing the hundreds of dot.com companies that burned brilliantly until they burned out completely for lack of substance, has some mistaken ideas about the true nature of wealth and how it is created. Real wealth, Schiff reminds us, comes the old fashioned way - from saving, investment and production. Full Story |
By: Rick Ackerman, Rick's Picks - 9 March, 2007
Permabear that I am, I will nonetheless continue to warn you that, with respect to bull-mania, it ain’t over till it’s over. Take a look at the chart below and you will see a stochastic indicator that has begun to roll up from its most egregiously oversold lows since last summer. While this is no guarantee that the Dow Industrials are about to coming roaring back, neither is it a very compelling reason to get short up the wazoo. Full Story |
By: Kevin Kerr & The Daily Reckoning Crew - 8 March, 2007
-Captain America we hardly knew ye…A jolly pack of clowns, liars, and cowards…
-Commodities trading advice…a 'soft landing' or a 'loud explosion'…owning gold when the fever breaks…
-Trapped on the Eurostar with fat girls…immigrants and expatriates…and more! Full Story |
By: David Bond - 8 March, 2007
It is becoming painfully obvious that the Prospectors and Developers Association of Canada's annual bash in this otherwise somnambulant capital of Ontario is responsible for two phenomena: the most miserable weather on the planet, and that gigantic retching sound one hears every March 3 or so when the metals regurgitate their recent gains like so many bulimic bullion bars. Full Story |
By: Douglas V. Gnazzo - 8 March, 2007
This is the third and final article in a series of three papers, which collectively comprise the complete rejoinder to Mr. Mohamed El-Erian’s article: Complex Finance and the Brave New World Economy. The same format used in the first two papers will be utilized again. The article will be broken down into paragraphs, followed by a synopsis of the main points of each paragraph, and then my comments. This focus on each individual paragraph separately facilitates an easier understanding and discussion of the complex issues involved. Full Story |
By: Rick Ackerman, Rick's Picks - 8 March, 2007
Each and every weekday evening, in the “Current Touts” section of Rick’s Picks, we publish Hidden Pivot targets and detailed strategies to guide traders and investors the following day. But it is in the chat room, in real time, and in the Intraday Notes section, that some of the most useful and valuable price forecasts often appear. Yesterday, for instance. With April Gold trading around $651, we billboarded a rally target at 653.40. In fact, the futures peaked shortly thereafter at 653.70 -- just three ticks, or 30 cents, above the predicted peak. Then they dove $5, to just above $648, never bettering the earlier high. Full Story |
By: Antal E. Fekete - 7 March, 2007
The Inaugural Session of Gold Standard University was successfully completed at the Martineum Academy in Szombathely, Hungary, in February, 2007. By unanimous request the original program Gold and Interest was extended to include Basis as well. As those who follow my writings on the Internet well know, basis is the difference between the nearest futures price and the spot price. The gold basis is one of the most sensitive economic indicators with a seismographic predictive power. Full Story |
By: Marc Faber & The Daily Reckoning Crew - 7 March, 2007
-The battle of the fed heads…just a hiccup in a bull market - or the growl of the bear phase?
-The devil and the market system…as the world turns, there are bound to be times of darkness…a leaky liquidity bubble…
-It's a New Century, with great financial bargains…what's enough to re-inflate the bubble?…and more! Full Story |
By: Dr. Ron Paul, U.S. Congressman - 7 March, 2007
David Walker, Comptroller General at the Government Accountability Office, appeared on the show “60 Minutes” last evening to discuss the federal budget outlook. If you saw the show, you know that he painted a very sobering picture regarding the federal government’s ability to meet its future obligations. Full Story |
By: Bob Chapman, The International Forecaster - 7 March, 2007
In the previous issue we made a number of parallels to previous stock market corrections. The timeframes were similar having had warning corrections in the March-April timeframe, a summer rally and a devastating correction in the fall. Today’s market looks somewhat similar to all of them – it’s just that today we have the “Working Group on Financial Markets” to supposedly save us from oblivion. The present break in the market that has been four years in the making we believe most resembles that of 1929, due to similar financial conditions. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 7 March, 2007
Total Fed Credit expanded by a measly $1.8 billion last week, made even more insignificant when compared to the big news of stock markets around the world going down a hefty percentage. The commentary is usually about "what caused it?" My answer, in response, is precise; "Who the hell knows?" Full Story |
By: Ned W. Schmidt, CFA,CEBS - 7 March, 2007
On Tuesday equity markets began a demonstration of long known fact, even a dead cat bounces when thrown into the air. Market corrections can certainly include days of temporary relief. A possible end to the correction is being called by some. More likely it is a bear market trap. Full Story |
By: Theodore "Ty" Andros - 7 March, 2007
In This Issue:
Fingers of Instability, Part I
Sub prime lenders, and real estate “ARM” ageddon
Global plunge protection teams, aka “Financial firefighters”
The clock is “Tic”king on the Dollar as the worlds reserve currency
Lobbing spitballs into the sun! Or Basking in It! Politicians, prepared and unprepared for the challenges of globalization, are yours a genius? Or an idiot? Full Story |
By: Rick Ackerman, Rick's Picks - 7 March, 2007
Bulls made a solid effort yesterday to get something going, but it will take more than a 157-point Dow rally to re-engage our interest. Yes, we still have that unachieved target at 13045, a Hidden Pivot that lies 250 points above the recent record high. But it looks like the Matterhorn relative to the lows recorded earlier this week, and in any event we don’t fancy jumping aboard at these levels just because a few pundits took yesterday’s surge as evidence that bull-mania had returned. Full Story |
By: Theodore Butler - 6 March, 2007
I hadn’t planned to write this week, but market developments were dramatic enough to warrant some commentary. Since my recent articles concerned potential high risk/reward and volatility, due to an extreme mismatch in the futures market structure in gold and silver, the subsequent sell-off and volatility were not unexpected. Granted, the $50 gold and $2 silver thumping was extreme, but so too was the tech fund long/dealer short position on the COMEX, as documented in the Commitment of Traders Report (COT). Obviously, we truly were at a critical juncture. Full Story |
By: Puru Saxena & The Daily Reckoning Crew - 6 March, 2007
-Tremors wiggling the seismographs…battening down the hatches…
-Factory goods fall at fastest pace since 2000…beware of cave-ins…Dan's billionaire challenge…
-You only have a million dollars?…the cost of 'living it up' has gone up…and more! Full Story |
By: Howard S. Katz - 6 March, 2007
“Volatility,” as used by the current economic establishment, is usually a euphemism for “decline.” But the word actually refers to sharp moves in either direction. And it was definitely volatility, in both senses, that we saw in the precious metals markets in the week of Feb. 26-Mar. 2, 2007. Full Story |
By: David N. Vaughn, Gold Letter, Inc. - 6 March, 2007
So, why has gold been dropping like a rock this past week? Investors are selling gold to raise cash to pay their debts. In this capacity gold is now acting as a good insurance plan by providing investors excellent liquidity to pay pressing margin calls and other quickening needs. And what further words of advice are the experts giving us concerning gold’s recent slide? Full Story |
By: Hugo Salinas Price - 6 March, 2007
The World is exchanging goods and services by various national means of exchange. We are using those same means of exchange as a vehicle for savings. We are denominating credit contracts in any one of various national means of exchange. The predominant means of exchange is the US dollar.
However, a means of exchange voluntarily accepted as such, by those who participate in exchanging goods and services, by those who use it as a vehicle for savings and by those who denominate credit contracts in it, is not per se money. Full Story |
By: Robert Blumen - 6 March, 2007
On his Global Economic Trends Analysis Blog, Michael Shedlock poses the question Is Gold an Inflation Hedge? The answer: "Gold in many timeframes is not much of an inflation hedge." This conclusion is derived entirely from looking at the US$ price of gold over several periods of time. In this article, I will argue that the cited analysis is US-centric, and that when the US$ exchange rate is taken into account, Shedlock’s conclusions are questioned. Full Story |
By: Michael Nystrom - 6 March, 2007
A couple of very bearish investment books showed up in my mailbox last month, just in time for me to finish reading them before 2-27's big market plunge. Though I was happy to receive them (courtesy of the publishers, no less), my first thought was that their appearance alone might be a contrary indicator of sorts. After all, the publishing industry issued a flood of bearish investment books in the late 1970's and early 80's - just as the greatest bull market ever prepared for liftoff. Full Story |
By: Sol Palha, Tactical Investor - 5 March, 2007
Many a naysayer, many of which fall under the newsletter writers camp keep pumping the nonsense that all paper money will cease to exist and that everyone will revert to the gold and silver standard in the not too distant future. First of all they are about 1000 years too late and second of all they are in sore need of a mental check up. They forget to take mass psychology into consideration and one must understand that the biggest driving force anywhere is mass behaviour also known as Mass psychology. Full Story |
By: The Mogambo Guru & The Daily Reckoning Crew - 5 March, 2007
-Getting burned by hot money…expecting some kind of 'flation'…
-Subprime dotcoms…lumpen masses doomed to lives of failure…
-Go-go gadget country…from paradise to Paris…and more! Full Story |
By: Greg Silberman - 5 March, 2007
Gold was unceremoniously dumped along with the rest of the market in a flight to Cash and Treasuries. And whilst it’s not possible to tell if this decline has further to go (I suspect it has), sentiment will once again turn in Gold’s favour as declining asset prices expose the extent of the vast credit problems. Full Story |
By: David Coffin and Eric Coffin - 5 March, 2007
It is a market maxim that both, or either, the top and bottom of market can be seen in a wave of M & A activity. At the bottom of a market assets are cheap and bigger fish gobble up smaller ones. At the top of a market enthusiasm takes hold even in those who should know better, and they overpay for assets with their own high priced paper. Full Story |
By: Adrian Ash - 5 March, 2007
The chicken-and-egg question of Japanese carry-trades, on the other hand, is rapidly making investors sick the world over. Which came first – the end of carry, or the collapse of share prices in Shanghai? The newswires blame Beijing's threat of higher interest rates...new restrictions on stock market IPOS...even a tax on financial speculation! Full Story |
By: radio.goldseek.com - 5 March, 2007
This Weeks Featured Guests:
Dan Norcini
John Perkins
Zapata George Blake
Justice Litle
Jack Chan Full Story |
By: Gary Tanashian - 4 March, 2007
Finally it is here. Finally the bears get to be right not only on their superior read of macro funnymentals of the debt for consumption global economy, but they are right in practice as well. The complacent and content bulls? They are now neither. You can just feel things changing in a big way, can't you? Full Story |
By: Bob Chapman, The International Forecaster - 4 March, 2007
Gold has incredibly powerful fundamentals so we have to take corrections in stride as we move higher. The manipulation is now so blatant that even non-professionals see it. That reveals signs of desperation, which should soon lead to the end of the suppression game. We ask, how many times can the IMF announce gold sales for gold – the gold they do not have and can’t access? Then there are the central bank sales of gold. They only sold 4/5’s of their quota last year and so far this year are headed toward about 50% fulfillment. In tandem with the forgoing that tells us the suppression is coming to an end. Remember, we are still in the early stages of a gold and silver bull market, so you should be using every correction to buy. If you are not in the game, you cannot win. Full Story |
By: John Rubino, DollarCollapse.com - 4 March, 2007
The effects of a cutoff of cheap credit to the securitization machine will be felt pretty much everywhere. But one obvious—and okay, amusing—impact will be on the big investment banks’ market value. If their debt is junk, then their earnings—driven as they are by cheap capital—are suspect. If their earnings are suspect, then their shares probably aren’t worth anything like the levels they’ve soared to on the wings of their last few blow-out quarters. Can’t wait for Monday. Full Story |
By: John Mauldin, Millenium Wave Advisors - 4 March, 2007
This week we look at the recent upspike in volatility, see if we can connect some dots with the recent slew of earnings downgrades and the problems in the subprime mortgage world, and follow the money as risk is being taken off the table. I don't "buy" the China problem, but there may be an Asian connection. Let's try and keep it simple as we try and see what's behind curtain #3 labeled "Which direction is the stock market headed?" Full Story |
By: Rick Ackerman, Rick's Picks - 4 March, 2007
Could this ugliness take another four-and-a-half years to run its course? That is the clear implication of the chart below. The deceptively demure graph, from economist Martin Armstrong, has taken on a significance and credibility it didn’t have one short week ago, when I reproduced it in the Intraday Notes section of Rick’s Picks as the stock market began to unravel. Full Story |
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