By: Adam Hamilton, Zeal Intelligence - 9 May, 2014
A major selloff is brewing in the lofty US stock markets, which have been grinding sideways for a couple months now. Momentum has faded despite selective positive earnings-season news and Janet Yellen’s jawboning. Stocks remain very overvalued, way too expensive for prudent investors to buy. And it’s been far too long since their last necessary and healthy correction to rebalance sentiment, so one is seriously overdue. Full Story
Put another way, Bogus official Numbers and Fed QE (et al) policies have artificially inflated Equities Prices – they are a “Mirage” as Carl Icahn says. And they have greatly distorted other Markets’ Prices as well. Indeed, if one looks at the Real Numbers (cf. Shadowstats.com below) one realizes the Economy is not recovering and is in fact weakening. And on that basis one can reasonably conclude the S&P is 65% overvalued. Full Story
Just as there seems to be too many funds/money managers parked on the short side of bonds (here, see the positioning of the Large Specs in 10-year note futures for yourself, courtesy of SoftwareNorth. The Large Specs are the light blue colored bars showing a very large net short position along with the non reportables, also net short, for the 10-year). Full Story
Zero Interest Rate Policy (ZIRP) was instigated by a credit induced collapse of the US financial system and perpetuated in December of 2008 by desperate financial policy makers as a fix to problems they created in the first place. In reality, it is simply an epic distortion of normal economic signals that cleaned up the mess created by previous policy distortions (like the commercial credit bubble of the Greenspan era) by systematically (5+ years and running) main lining new distortions into the system. Full Story
Collateral damage can assume many forms—and though some may be more newsworthy than others, the latter are no less real, nor any less frightening. Full Story
Hands up if you are amongst the gold believers who are frustrated with the long bear in gold. Hands up if you are a part of the group that could care less about gold and may even believe that it is a barbarous relic. And finally hands up if you are amongst the few that believe that gold is going to the “moon” over the next number of years because the worlds central banks are out of control madly printing money. Full Story
Despite the myriad fallacies of such narrow-minded beliefs, the reason “tapering” is touted as “PM negative” is the assumption it will coincide with a rapidly improving economy and with it, higher interest rates. Better yet, propagandists like Janet Yellen, Mario Draghi, Mark Carney, and Shinzo Abe create fraudulent expectations of “deflation”; i.e., the first hint of disingenuousness as there is simply no way a recovering economy featuring higher interest rates could coexist with deflation. Full Story
Last week we speculated that a decline in May would create an opportunity. We concluded: The near term prognosis looks cut and dry. Until proven otherwise the short-term trend is down. If that is confirmed in the coming days then let these markets fall to strong support before buying. The Ukraine-induced alleged safe haven bid for Gold could be starting to come out of the market. Regardless of the cause, the charts for the miners (and Gold) continue to urge caution as lower prices are likely ahead before the next major turn. Full Story
This infographic, part three in our 2014 Gold Series, covers the rise of Asian demand for the yellow metal. Lifted by a continued surge in Asian gold sales, consumer demand for gold reached an all-time high in 2013 at 3,893 tonnes. Amazingly, 54% of this demand came from two places: India and China. However, it is only recently that the East has dominated global demand for the yellow metal. In this infographic, we look at India and China specifically to see why demand keeps expanding in the East. Full Story
First, here’s some background. Two years ago this month, a subscriber (Dr. Jeff Lewis – www.silver-coin-investor.com) had a chance social encounter with an employee of the Government Accountability Office (GAO) and as a result suggested that I contact the agency about the silver manipulation and the CFTC’s role in it. Having taken an oath to myself never to pass up any opportunity to help expose and terminate the silver manipulation, I promptly wrote to the GAO on its Fraud Net complaint hotline and just as promptly forgot about it. I admit to having grown weary of waiting for a regulatory remedy in silver. Full Story
The first chart I would like to show you tonight is the one I posted today on the GDX. So far this downtrend has four separate chart patterns in it. The top is comprised of the blue 5pt bearish expanding rising wedge reversal pattern. The second pattern is the red bear flag. The third pattern is the red bearish rising wedge and the fourth and most important chart pattern is the potential blue bearish falling wedge which should be a halfway pattern to the downside. Full Story
Hedging out the currency risk from international equities is currently en vogue after investors in the Japanese equity market dramatically enhanced their returns by hedging out the yen exposure in 2013. Market participants investing in international equities, must ask themselves: “to hedge or not to hedge?” As we shall elaborate, investors might be asking the wrong question. Full Story
The crucial swing states for deciding the US presidential elections through voting system fraud were Ohio and Florida. Whether by machine software with rigged software programming or by bussing in Somalians or by altering the vote count upon final submission or basic bully tactics to prevent entrance into the voting centers, the US national elections were truly tainted. The commonly followed Exit Polls are proof of vote fraud. The Paradigm Shift was to the fascist state in full blossom. Full Story
Another new GoldSeek.com live webinar, featuring Rudi Fronk, Ceo & Chairman of Seabridge Gold Inc. and Dr Jim Willie, publisher of the "Hat Trick Letter". Full Story
By: The Gold Report and John Mauldin - 7 May, 2014
The future will be decided in a race between global advances in demand for resources, complex technology and biotech innovation, and growing sovereign debt. In this interview with The Gold Report, Thoughts from the Frontline author John Mauldin points to the sectors that could benefit from the upside of improving world demand and the possible downside of a fiscal collapse in the geographic hot spots of China, Japan and Europe. Full Story
Generally, we saw a breakout above the declining, long-term resistance line in the Euro Index. At this time, however, the breakout is unconfirmed, and without meaningful implications. What’s more important, though, is how gold and silver reacted. They didn’t. Gold and silver moved just a little higher and that’s highly visible underperformance in case of gold and silver. They are not even close to moving to their 2014 highs. Full Story
And so, ladies and gentlemen, it is perfectly clear that gold prices are headed south – and in a big way. For those of you who trust pictures, I have included a graph of gold prices since 1975. As you can see – it is perfectly clear – repeat – PERFECTLY CLEAR – gold prices have NOWHERE to go but down, down, down. Full Story
I am often asked by my fellow Gold and Silver bullion investors, “What is the best way to transport gold and silver internationally?” Technology is making our lives easier and easier! The easiest and possibly cheapest way to transport gold and silver internationally is with Bitcoin. Full Story
By: Peter Schiff, CEO of Euro Pacific Capital - 7 May, 2014
After three months of consistently disappointing jobs numbers, the markets were as keyed up for a good jobs report as a long suffering sailor awaiting shore leave in a tropical port. The just released April jobs report, which claimed that 288,000 jobs were created in the U.S. during the month, provided the apparent good news. But you don't have to go too far beneath the surface to find some troubling trends within the data. Even this minor excavation was too much for the media cheerleaders and Wall Street pitchmen to handle. Full Story
John Embry said last month that the rally at the beginning of the year was encouraging, but to remember that sentiment for gold was still extremely negative. He says that the stock market’s new highs are a result of the Fed ‘jamming cash into the economy.’ With nowhere else to go, cash is creating bubbles in stocks, real-estate and bonds, he warns. Full Story
I listen to CNBC sometimes. Usually when I'm running around or working out or something. Not for the opinions of the traders, which I find more entertaining than useful or informative. Mostly for the news: earnings reports, profiles on new products and companies, etc. They do an okay job of covering major financial news stories of the day, even if they tend to be biased towards whatever is hot at the time and over-hyped (which also makes CNBC an interesting sentiment gauge). Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 6 May, 2014
Whenever any mainstream news organization publishes or broadcasts something touching on the Western central bank gold price suppression scheme or GATA, your secretary/treasurer contacts the organization to provide the full documentation that would be necessary to an attempt at actual journalism. Today's appeal to The New York Times is appended. At least it drew a prompt and cordial acknowledgment. Full Story
Whatever happened to the inverse correlation between the USD and the price of gold? The devaluation of purchasing power should mean more dollars are required to buy each ounce of gold. Thus, with the USD now approaching its lows set in late 2012, gold should conversely be approaching its late 2012 highs, near $1,800/oz. Full Story
Western bank economists continue to make very bold and aggressive statements about lower gold prices in 2014, based on stronger growth in America. Their thesis is that stronger growth will trigger more ETF selling in gold ETFs. These economists seem to assume that current Western investors are as weak-handed as those who liquidated positions in 2013. Full Story
By: Andrey Dashkov, Research Analyst - 6 May, 2014
When it comes to buying bonds, credit ratings aren't the only thing to consider—because what the bond rating agencies tell you is not the whole picture... Full Story
Texas is oil country. The state I now call home leads the nation in oil production and would be one of the top oil-producing nations if it were its own country. But that doesn’t stop us from exploring other promising oil opportunities further afield. I recently traveled to Albania to check out a drill site of Petromanas Energy, a Calgary-based international oil and gas company focused on exploration and production throughout Europe and Australia. We own the junior stock in our Global Resources Fund (PSPFX) and Emerging Europe Fund (EUROX). Full Story
The establishment survey shows a gain of 288,000 jobs last month. However, the household survey shows that that the economy lost 73,000 jobs in April. This is critical. The household survey does not allow for “duplication of individuals,” meaning that if someone holds more than one job, they’re only counted once. In contrast, if someone is working multiple low paying jobs, every single job will be counted in the establishment survey. Full Story
It’s getting increasingly difficult to survive out there these days for everybody except the top .01% and few of their buddies, which is not what Ayn Rand had in mind when writing on the benefits and attributes of individualism, to both the individual, and society as a whole. Of course Ayn was no stranger to the vulgarities associated with cronyism and oligarchs with her Russian origins, however she would likely be dismayed at what has happened to America today, a place she loved for what it stood for, not what it has become. Full Story
GoldSeek.com will be hosting a special 60-minute live online event with Jim Willie of the “Hat Trick Letter” and Rudi Fronk, Chairman & CEO of Seabridge Gold Inc. this coming Monday, May 5th starting at 12 pm Eastern / 9 am PST. GoldSeek.com readers will be able to attend this free online Presentation + Q&A with the CEO of Seabridge Gold and GoldSeek.com contributing author Jim Willie. Full Story
Before we look at the weekend charts I would like to quickly go over our three portfolios as some of you think I maybe not managing the risk portion correctly. As you know we have three portfolios made up of three different types of stocks. The Junior Portfolio is for the small cap PM stocks. The Model Portfolio is made up of the bigger cap stocks that can be precious metals stocks or stock market stocks or etf.s. The Kamikaze Portfolio is the speculative portion of the three portfolios , in which we generally trade the 3 X etf’s. Full Story
So far my 2014 expectations are playing out pretty much as planned, with a few adjustments. With the threat of war in the Ukraine I think the final bubble phase in stocks is now off the table. I doubt we can get the euphoric buying pressure necessary to generate a parabola as long as tensions in Eastern Europe continue to escalate. No bubble phase in stocks = no capitulation phase in gold. The Ukraine event was a game changer. Full Story
When asked if the gold market correction has passed, author of the best selling Rich Dad book series says, "What gold correction?" Robert Kiyosaki ignores the annual gyrations in price, because he has no intention of selling any of his gold and silver. #1 on his list of 5 must own items: precious metals - the one asset class that everyone can own. Unlike oil wells, real estate and paper assets a trip to the neighborhood coin shop is all that's required to start investing. He recommends US real estate and business ownership for their tax safe haven qualities. Full Story
For some time I have been saying that I was going to close the mortgage on my new apartment and then hedge it in yen. I promised to tell you the story, including what type of loan I got and how I am doing the hedge. This week I was finally able to pull the trigger. This topic will also let us re-examine why I think the Japanese yen is a screaming short. I am going to make this a shorter letter, as Amsterdam is calling, and it is a beautiful day. This is not a big think piece, but I think many of you will find it interesting. It outlines how I put my economic thinking into actual practice, and names names, if you will, of those who helped me do it. Full Story
The modus operandi of the elites is to create chaos, preferably in the form of [profitable for them] war. Their purpose is to create major headaches for governments and people. The next step is to “offer solutions” to end the chaos. Without fail, the solutions always favor the elite who gain more control as part of the cost for the rescue. Full Story
Markets remain strong and setup for a breakout while stocks are still lagging BUT many stocks are now starting to setup nice buy levels so we will see more and more buy points finally come to us in the week and weeks ahead. Full Story
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