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Weekly Archive
By: Peter Schiff, Euro Pacific Capital, Inc. - 9 May, 2008
For those holding out hope that the American economy can miraculously avoid a long and deep recession consumer credit is often viewed as the wonder drug that can cure all manner of economic ills. As such, this week’s report showing $15 billion growth in consumer credit was widely heralded as proof of America’s economic strength and resilience. However, we are now suffering the after effects of too much debt, and our salvation cannot be found in more of the same. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 9 May, 2008
-The war between the 'flations drags on…nobody is going to cut back on spending unless they are forced to…
-Inflation has become globalized - and soon it will come in, not as a kitty, but as a mean panther…
-In the United States, you are on the pot-holed highway to Hell…and more thoughts, insights and advice to take you into the weekend! Full Story |
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 May, 2008
Some talk of the end of the credit crunch. Some say that the gold bull market has suffered severe damage, which will affect its long-term prospects. If we were to accept these statements then it would appear that the gold ‘bull’ market is over. But are these statements acceptable and do they reflect the true picture underlying the gold [and silver] markets? To get the proper perspective let’s stand back and look at the ‘big’ picture. Full Story |
By: Adrian Ash, BullionVault - 9 May, 2008
Why are wealthy investors swapping gold futures for physical metal that they own outright...? Full Story |
By: Adam Hamilton, Zeal Intelligence LLC - 9 May, 2008
Gasoline, usually taken for granted, is weighing heavily on consumer sentiment today. In the States, the AAA just reported that retail gas soared to an average of $3.65 per gallon nationwide! This all-time record high is motivating Americans to drive less, drive slower, and migrate to more efficient cars to save fuel. Full Story |
By: Ty Andros - 9 May, 2008
In today’s missive we are going to cover the creeping socialization of the G7 banking system and the second act of the horror show known as biofuels. Slowly but surely, the central banks of the G7 are taking over the short term funding needs of the money center and investment banking industries. Full Story |
By: Deepcaster - 9 May, 2008
Of course, Fundamentals and Technicals still do matter, since the Cartel would lose considerable clout if its machinations were broadly exposed. Therefore, it makes sense that The Cartel would create and/or use Fundamentals and Technical Patterns as occasions for Market Intervention and would use/create geopolitical events to achieve the same ends. Full Story |
By: Peter Degraaf - 9 May, 2008
Much discussion has taken place in recent weeks, regarding the possibility that gold and silver might continue to sink to lower levels, as the summer doldrums set in. Investors soon become shell-shocked with negative market analysis that looks at a half-full glass of water and refers to is as ‘half empty’. Full Story |
By: Ira Epstein - 9 May, 2008
Gold has not, I repeat, has NOT been influenced by all time high, energy prices. Rather, Gold is being influenced by what appears to be a bottom in the US Dollar. Until and unless 71.05 is taken out in the June Dollar Index, I think it fair to say that a short-term, if not a much more important longer-term low is in place for the Dollar Index. I see the Dollar’s next upside objective as being 74.50, the high it made on April 18th. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 9 May, 2008
So where is that other $49 billion, if they borrowed it but did not add it to reserves? Who the hell knows? Gaaahh! My head is spinning! I cannot even understand this new corrupt crap anymore! Full Story |
By: Jordan Roy-Byrne - 8 May, 2008
My title is counterintuitive isn’t it? Gold and Oil generally follow each other. Up or down. While this is the case it doesn’t explain the poor performance in the gold stocks relative to gold. Fundamentally speaking, rising energy costs negatively impact the gold miners. We have to remember that mining is both an energy and capital-intensive business. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 8 May, 2008
-Up, down…up, down - what's the economy telling us?…a look at an endangered species…
-Rising price of food forces millions of Americans on to food stamps…you may be able to print your way out of a recession - but you can't mint your way out…
-Japan's self-extinction…sugar-caned bio-diesel fuel…and more! Full Story |
By: Christopher G. Galakoutis - 8 May, 2008
Akin to a destructive typhoon that has hit shore in some and about to in others, the inflation monster wasn’t an issue so long as it was gestating and churning over open water after developing and departing US shores. But as it starts to hit the many nations foolish enough to have invited the storm, the question that arises is how will the affected countries respond? Full Story |
By: Brady Willett - 8 May, 2008
The only thing remarkable about the recent rally in U.S. equities is how unremarkable it has been. To be sure, you would think that with the ‘worst’ being ‘over’ stocks would be able to mount a significant bounce. This hasn’t been the case, at least not yet. Full Story |
By: Bob Chapman, The International Forecaster - 8 May, 2008
The elitists have already set the stage for the next gold rush. As soon as their latest bevy of lies and false statistics are shown to be the despicable falsehoods they are, people around the globe will rush back into gold and silver with a vengeance. Full Story |
By: Roy Martens - 8 May, 2008
It seems clear to many investors that the price movements within the precious metals sector are becoming more and more violent every day. What does this mean? Is it the end of the bull market in this sector, or simply the end of this correction? Personally, I think the charts are telling us that this is the beginning of the end of the correction. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 8 May, 2008
As I was contemplating how my blood got suddenly colder, I was taking a long pull from a bottle of really cheap tequila to try and calm my ragged nerves about this lack of additional TFC thing. Full Story |
By: Rick Ackerman, Rick's Picks - 8 May, 2008
Yesterday’s 206-point drop in the Dow was the worst decline in a month, according to a headline that caught our eye. But look at the chart below, which shows the Mini-Dow futures. From cliff to pavement, the dive produced barely a splat, failing to take out even a single prior low of significance. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 7 May, 2008
-Dude, where's my fiscal stimulus?…everyone pile in the car - we're going on a tax holiday!
-The Fed continues to bamboozle consumers into thinking they are richer than they really are…the bull market in gold is NOT over…
-The Exodus of U.S. wealth…not all art investments are bad ones…and more! Full Story |
By: Adrian Ash, BullionVault - 7 May, 2008
Now that all the cheap money's vanished, where might consumers find enough cash to pay the bills...? Full Story |
By: Richard Benson, SFGroup - 7 May, 2008
The government rebates are coming: Quick, hide from the bill collectors! Creditors and debt collectors alike can smell the money a mile away, and they’re mighty hungry. Some debt collectors resemble sharks who want to take a big bite, while others are like mosquitoes who quietly feast. But many more are like leeches attaching to prey until they’re full, and their victims have been sucked dry. Full Story |
By: Gary North - 7 May, 2008
In this report, I introduce you to an amazing chart. It is getting zero attention from the mainstream financial media. The information it conveys is at the heart of Bernanke's looming problem. I have decided to post a link to this chart on a permanent basis in the "Free Materials" section of my website. Full Story |
By: Jim Willie CB - 7 May, 2008
Once every several months, an opportunity is presented on a silver platter to purchase a spectacular investment in a strong uptrend, with loud indications of continued upward trend in price. Gold is heading well past $1200 and silver is heading well past $25 in the next several months, despite the orchestrated annihilation of honest valid reporting. Full Story |
By: Thomas Tan, CFA, MBA - 7 May, 2008
There is no doubt that we are in the reverse Minsky process, with asset prices falling and collateral being wiped out, risk premiums moving to the astrosphere, deleveraging everywhere, lack of lending, no refinancing, and the economy contracting in jobs, income and spending. Full Story |
By: Ned W. Schmidt, CFA, CEBS - 7 May, 2008
The wheat price has broken. Rice price has a short-term top. Corn may be topping out. Gold is down. Silver has taken a dive. Housing prices are in the middle of decade long bear market. Yet, oil futures continue to move higher, fueled by margin led speculation. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 7 May, 2008
The result is that the price of packaged food is going up by more than the rise in the underlying commodities would suggest, which (according to government statistics) is at least 20% in the last year, and often much, much more. Full Story |
By: Rick Ackerman, Rick's Picks - 7 May, 2008
With the price of a barrel of crude currently wafting north of $120, Wall Street seems oddly, if not to say blithely, unconcerned. How else to explain a 50-point rally in the Dow on a day when oil prices roared to new all-time highs, violently reversing last week’s brief shakeout? Oil futures closed yesterday above $120 for the first time, settling at 121.80, a dollar off their intraday peak. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 6 May, 2008
-It is the best of times; it is the worst of times…oil is up on U.S. optimism?
-Food riots in Africa…India targets food futures…doom and gloom has been overplayed…
-Don't bet against America, says the richest man in the world…when Friedman points out what an idiot you are, you know things aren't good…and more! Full Story |
By: Eric Hommelberg - 6 May, 2008
So if you are a believer in gold's future then these are the times to increase your gold share positions since the gold shares are still selling at fire sale prices. In other words, downside risk is low. Higher gold prices the years ahead will lift the entire gold share sector but the most exciting rewards will come from junior mining companies making new discoveries. Full Story |
By: David Galland, Managing Director, Casey Research, LLC - 6 May, 2008
When I look at the alternatives and the amount of risk I have to take to get even a 10% return right now, I am comfortable biding my time, continuing to buy gold and gold share bargains with the expectation that the 100%, 200%, 500% gains down the road will catch me up in a hurry. Full Story |
By: Boris Sobolev, Resource Stock Guide - 6 May, 2008
A correction in precious metals that is now taking place is due to a general conviction that the Fed has succeeded in its efforts to overcome the financial crisis. A pause or even a stop in the monetary easing cycle will lead to easing inflationary pressures and a significant US dollar rally. We believe this conviction is Wrong! Full Story |
By: Vince Byfield - 6 May, 2008
This report is the result of a passing interest in the Royal Canadian Mint’s latest annual report (2007). I wanted to further validate whether silver sales for last year were up substantially and if so, why the Mint’s bullion revenues were not substantially higher. Full Story |
By: Theodore Butler - 6 May, 2008
The engineered sell-off of gold and silver by the big commercial shorts continued over the past week. However, there were decidedly mixed results in the dealers’ attempt to force speculative long liquidation in each market, even though gold declined almost $50 and silver $1.20 in the latest reporting week (ended Tuesday). Full Story |
By: Richard Daughty, The MOGAMBO GURU - 6 May, 2008
It is this last fraud that has been used to such success by Mogambo Inter-Planetary Industries (MIPI), by which we commit an as-yet legalized extortion by utilizing the word 'improved'. Full Story |
By: Rick Ackerman, Rick's Picks - 6 May, 2008
The statistical mirage of an economy on-the-mend continues to grow, this time with a pseudo-statistic from the Institute for Supply Management. The ISM reported yesterday that its non-manufacturing index for April rose to 52.0, from 49.6 in March. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 5 May, 2008
-The papers have kept us in stitches today…a 'Gas Tax Holiday'? Really?
-Waiting for the showdown between Hillary and Obama…the Fed has created bubble-like conditions in the commodities markets - but Kevin Kerr tells us all is not lost…
-Buffett tells it like it is…the art world's big test…and more! Full Story |
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 5 May, 2008
The gold market in the past has been seasonal, with the rule being, “Sell in May and go away”. This lull in demand usually started in May and lasted until the middle-to-end of August, with the main demand appearing in the final quarter of the year and lasting until the end of May. Will it be the same this year? Bear in mind a big fall has happened already this last month. Full Story |
By: Michael J. Kosares - 5 May, 2008
One wonders how aggressive Europe can afford to be under the circumstances. Market interventions rarely work. In the end, they tend to create more problems than they solve. This intervention, like most of its predecessors, is likely to be viewed down the road as containing more short-term bluster than long-term substance. Once the pressure is released, which inevitably will be the case, the gold and euro markets are likely to move rapidly and forcefully in the direction opposite the control. Full Story |
By: Frank Holmes, U.S. Global Investors Inc. - 5 May, 2008
Once you back away from the day-to-day noise and put things into perspective, we believe this correction in gold, while painful in the short term, is just another pause in a long-term secular bull market. As it has been said, bull markets climb a wall of worry. Full Story |
By: Captain Hook - 5 May, 2008
In today’s increasingly mature market environment, basing one’s investment decisions on the recognition of commonly followed patterns, like a ‘head and shoulders pattern’, has proven to be an expensive mistake all too many times for traders throughout the past 10-years or so. Full Story |
By: Darryl Robert Schoon - 5 May, 2008
Inevitably, investment bankers cannot resist the temptations of excessive credit and, like the buyers of teaser-rate home mortgages, they will always overreach themselves—an overreaching that will have disastrous consequences for the society whose savings they bet. Full Story |
By: Stefan M.I. Karlsson - 5 May, 2008
In short, there can be little doubt that America is in a recession now and that this recession probably began in November 2007. The supply-siders that deny this must resort to using the absurd logic that it is irrelevant for your living standard if you must pay more for the things you buy, or get paid less for the things you sell. Somehow, I doubt that they are willing to apply this logic in their personal life and accept a lower pay for their propaganda pieces. Full Story |
By: Kenneth J. Gerbino - 5 May, 2008
The single fact for you to remember is that the world is awash with paper money being created at unprecedented rates. That is all you have to know. Inflation always follows and gold and gold stocks then go up. That is the way it works. I am sure Sherlock would be long the gold mining shares right now. Full Story |
By: Bob Chapman, The International Forecaster - 5 May, 2008
How can the dollar do anything but continue its drop into fiat money hell with actual, as opposed to official, inflation in excess of 12% which is currently rising and trying to catch up to an M3 of 18%? Are traders now that brain-dead that they continue to listen to the fane-stream media's current mantra for sucker-dupes that the worst is behind us and its back to Goldilocks and the three cute, furry, cuddly bears? Full Story |
By: Warren Bevan - 5 May, 2008
Gold was taken to the woodshed this past week. Support at $875 was broken and caused a sharp run to the major multi-decade support area of $850. I don’t see Gold going any lower but if it does it still does not signal an end to the bull market. We need to see many other things fall into place for that to happen. Right now the fundamentals for the metals to go higher are better than ever and improve weekly. Full Story |
By: Nadeem Walayat - 5 May, 2008
This weeks newsletter looks at the stock markets trend during the summer months and especially in light of the "Sell in May and Go Away" adage. Meaning to sell stocks during May with a view to buying them back again some time during September. Full Story |
By: Rick Ackerman, Rick's Picks - 5 May, 2008
Ah, would that it were true! Yes, we did come within two ticks of nailing Friday’s spike high with a forecast made several weeks ago. And some Rick’s Picks subscribers evidently did get short at the exact top, reaping a windfall gain from the 21-point selloff that followed. But it doesn’t look like the coming week will afford bears much time to gloat. Full Story |
By: radio.GoldSeek.com - 4 May, 2008
GoldSeek.com Radio: Chris Waltzek, Bob Chapman, Bruce Bragagnolo, Timmins Gold Corp CEO, Robert Ian, & Louis Navallier, Stock Pro Full Story |
By: Gary North - 4 May, 2008
We are all riding on the back of a highly leveraged, debt-ridden tiger. We hope that Chairman Bernanke doesn't get eaten alive. Why? Because the tiger will maul us first. Full Story |
By: John Mauldin, Millennium Wave Advisors - 4 May, 2008
If we are to believe the government statistics, the GDP of the US grew by 0.6% in the first quarter of this year. And unemployment actually fell. And there were only 20,000 job losses. This week we do a quick review of why the statistics can be so misleading. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 4 May, 2008
And as to the notion that the Fed has sold half of our nation's gold, I think that is being generous as hell, as I see no reason why the Fed would stop at only half… Full Story |
By: Douglas V. Gnazzo - 4 May, 2008
Commodities are undergoing a counter-trend correction. They are in a powerful bull market that needs to correct and consolidate its recent gains in order to be healthy and sustainable. Full Story |
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