By: The Gold Report and Roger Wiegand - 10 June, 2011
As the global economy remains in turmoil, Trader Tracks Editor Roger Wiegand finds ways to avoid the hazards he sees ahead and profit from opportunities in precious metals, commodities, currencies and resource stocks. In this exclusive interview with The Gold Report, Roger shares some tips to help investors do the same. And, despite the hype, it isn't all clear sailing for China and the U.S. dollar isn't dead yet. Full Story
I just had a conversation with constitutional lawyer and monetary expert Dr. Edwin Vieira. I first became acquainted with Dr. Vieira, who holds four degrees from Harvard and has extensive experience arguing cases before the Supreme Court, at our recent Casey Research Summit in Boca Raton, where he spoke on how far off the constitutional rails the nation has traveled. Here is a summary of what he told me… Full Story
By: Adam Hamilton, Zeal Intelligence - 10 June, 2011
Traders beware, the dreaded precious-metals summer doldrums are now upon us! Summers are barren sentiment wastelands for the entire PM complex. Gold, silver, and the PM stocks tend to grind listlessly sideways to lower, vexing traders who aren’t psychologically prepared to weather this slow season. Full Story
Let’s begin today’s discussion with fresh Fed decisions and its implications on capital markets. Ben Bernanke sent a strong signal recently that despite weaker economic data, the US Federal Reserve is not planning to loosen monetary policy. Full Story
A sabbatical is usually a good thing as it gives a nice opportunity to take a step back, assess, reassess, and potentially relax. I’ve enjoyed the past few months away as I took time to do the above and also to try to impart a little common sense and perhaps some wisdom on the up and coming generation regarding economics, the study thereof, and more importantly, the dire consequences of failing to recognize and follow basic economic laws. Full Story
I think they are. The top is not yet confirmed, however. Additionally, the next cyclical global equity bear market will be getting into dangerous territory. Evil speculators will have to be careful shorting the markets once the opportunity arises in case the apparatchiks pull out their bazookas and declare that all asset prices except Gold and commodities can only rise and never fall. Full Story
When investing in the gold sector one of the most frustrating experiences you can have is watching gold outperform the gold stocks in your portfolio. Investors flock to gold stocks to leverage the returns in gold, not underperform gold. Full Story
The gold price has been rising steadily for almost a year now, with nary a correction. It fell only 4% last month, and the biggest decline since last July was January’s 6.2% drop. These barely register as “corrections” when one considers that we’ve had 18 of them greater than 5% since the bull market began in 2001. Full Story
While Gold is only 2% from all time highs, the gold stocks have struggled and underperformed badly. This is reminiscent of 2008, although we don’t think a similar result is coming. The fact is as QE 2 ends and the failed recovery peaks, money is moving out of risk assets and into Bonds. Gold is holding up very well but the gold stocks are struggling and in need of a catalyst. Full Story
By: Richard (Rick) Mills, Ahead of the herd - 10 June, 2011
In 1946, in New York City, the Anti-Trust Division of the Department of Justice filed a complaint against Inco and its wholly owned U.S. subsidiary, International Nickel Co. Inc. Canada's Inco, at the time, owned 90% of the world's nickel ore and supplied 90% of U.S. nickel needs. Full Story
Many people refuse to believe that there is a group/team/Cabal of very powerful people running things in most of the world today. The Goldsmiths have highlighted that fact repeatedly, over and over. Full Story
Because the stock market has just received the kiss of death, technically speaking, traders who are looking to get short should view rallies like yesterday’s as a gift. Notice in the chart below how the S&P 500 exceeded three prior lows without an upward correction. Full Story
The combination of $trillion bond fraud, dependence on inflating home equity for economic development, oversized cars, oil dependence, constant market intervention, insolvent banks, insolvent homes, outsourced industry, endless war, budget deadlock amidst runaway deficits, raided US gold treasury, mammoth future benefit obligations, and handing over the keys at USDept Treasury to Goldman Sachs has left the United States to fend off systemic failure. Full Story
Get ready for more money to be printed – this time not to subsidize an overly indebted American consumer, but to stem against the credit destruction caused by the Federal Reserve (Fed) itself. Tuesday evening at the International Monetary Conference in Atlanta, J.P. Morgan CEO Jamie Dimon gave a laundry list of changes that have already incurred in the banking system, including... Full Story
It may be counter-intuitive but holding on to precious metals into the growing sell-off in financial markets could still make sense for many investors. Becoming a trader and hoping to cash out now and buy back later at lower prices is all very well in theory but may turn out badly in practice. Full Story
May’s employment report couldn’t come at a better time. As soon as the Fed officially ends its quantitative easing program, new jobs data shows that the recovery investors have long been waiting for is still out of reach. Full Story
George Soros has broken central banks, built a billion dollar fortune, and awarded himself fans around the world who adore his no-nonsense speculative approach. While he was once a kingpin of the financial markets, he took a backseat years ago to step away from his Quantum fund, only to return to an audience that has long gone. Full Story
Jason Mann's mission is simple. He comes to work every day looking for great values. Recently, he's been finding them in precious metals. Mann, a senior analyst with Freestone Capital Management based in Seattle, explains in this exclusive interview with The Gold Report why about one third of Freestone's $2.1 billion assets under management are invested in non-traditional assets, including commodities. Full Story
There’s a lot to be looked at and understood going into the summer. First, it is not uncommon for gold to just drift around for June and July. I’m fully aware that this is not a typical trading year and the US economy for lack of a better word….stinks. With QE2 ending at the end of June, it’s unclear at this time if the Fed will embark on another stimulus program or not. If they don’t and the Dollar responds by breaking down, that could be bullish for gold. Full Story
The high rate of inflation most of us believe is waiting not too far down the road will be an earthquake for investment markets. The likely winners (gold, silver, precious metals stocks) and the likely losers (long-term bonds and most stocks) aren’t too hard to identify. But separating the sheep from the goats is only one element for financial success in an environment of rapidly rising consumer prices. Full Story
Occasionally, we see an official attempt at a serious discussion of what Federal Reserve System economists would like the public to believe is safe banking. This means safe fractional reserve banking. This means fraudulent safe banking. This means fantasy banking. Full Story
By: Bob Chapman, The International Forecaster - 8 June, 2011
Wall Street seems to believe the waning recovery in the economy is only temporary and that further recovery is on the way. Such thinking can get you in serious trouble, unless QE3, or its equivalent, is on the way. It is on the way, as we pointed out 13 months ago. The economy cannot live and survive without it otherwise we could be looking at a minus 5% GDP for openers. Incidentally, there are those that believe that unemployment already is as bad as it was during the “Great Depression” years of the 1930s. They may be correct, but we believe it was much higher than today’s 22.4% level. If government hadn’t created food stamps, Medicaid, extended unemployment benefits and other benefits, perhaps we could be close to 1930’s levels. Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 June, 2011
Last week the U.N. warned of a possible collapse of the US dollar –if its value against other currencies continues to decline. The U.N. mid-year review of the world economy did not get extensive coverage. Their economic division said that a crisis of confidence in the dollar, stemming from the falling value of foreign dollar holdings, would imperil the global financial system. This trend had recently been driven by interest rate differentials between the U.S. and other major economies and growing concern about the sustainability of the U.S. public debt, half of which is held by foreigners including the Chinese government. Full Story
There is a great deal of uncertainty among investors about what the future of the U.S. economy may look like – so I decided to take a stab at what’s likely to happen over the next 20 years. That's enough time for a child to grow up and mature, and it's long enough for major trends to develop and make themselves felt. Full Story
The street fighter versus the boxer. In the ring, the boxer wins 99% of the fights. In can be different in the street, because there are no rules. There’s no point pretending the gold stocks market is anything but a street fight right now. Full Story
An NBER working paper by Carmen Reinhart and Belen Sbrancia describes how Western governments in the post-world war economies unloaded their debts on credulous citizens through a policy of financial repression. Because it is politically palatable (as opposed to outright default, hyperinflation, or overt tax increases) some analysts expect governments to try it again. One part of it - inflation - is already well-underway. Financial repression means savers (investors) will be forced to pay leviathan's debts, whether they like it or not. Full Story
By: Steve Saville, The Speculative Investor - 7 June, 2011
All of the major central banks hold currency reserves in the form of gold or other national currencies, but it is not strictly true that these reserves "back" the associated currencies. For example, if the US' gold reserves or Japan's US$ reserves disappeared tomorrow, the US$ and the Yen wouldn't be worth any less than they are today. What, then, backs today's fiat money? Full Story
By: The Gold Report and Michael Starogiannis - 6 June, 2011
School's out for the summer and junior explorers are back in the field commencing summer drilling programs. That's what makes early summer a good time to seek out bargains in the junior equity sector, according to Fraser Mackenzie Analyst Mike Starogiannis. Mike speaks to The Gold Report in this exclusive interview. Full Story
Today, more than ever, we need to understand the conditions that bind us, and what we can do to improve our lot. It seems everywhere we look, we see the world turning against us, making it more and more difficult to survive and prosper. Jobs are scarce. Prices are high. Home values have withered away. Returns on savings and retirement assets have eroded. And there seems no end to the slow, numbing decline. No hope that economic spring will eventually arrive. Full Story
"Financial Repression" is currently a hot buzzword in the global economic community, and its effects are even worse than it sounds. Like other recent economic buzzwords such as "monetary sterilization" and "quantitative easing", the average person will never understand the meaning, if they hear the phrase at all. That is too bad, because governments around the world deliberately and methodically stripping wealth (and therefore security and retirement lifestyle) from hundreds of millions of people is the quite explicit objective of Financial Repression. Full Story
By: Rick Ackerman and Dr. Kurt Richebächer - 6 June, 2011
Dr. Kurt Richebächer was one of the most visible and vocal proponents of Austrian School economics at the time of his death in 2007. Eight years earlier, at the height of the dot-com bubble, we interviewed him for the Sunday San Francisco Examiner. In retrospect, the economic problems that he believed threatened the global economy were small and relatively manageable back then. The same problems are of course still with us, and Richebächer undoubtedly would be appalled by the extent to which they have metastasized. Full Story
1st Hour: Headline news & the Market Weatherman Report. Spotlight Stock Picks. Host Chris Waltzek & Bob Chapman, The International Forecaster discussion and answer listener's questions. 2nd Hour: Richard Daughty, The Mogambo Guru Report Peter Eliades, Stockmarket Cycles Full Story
Let’s take a step back and examine the intermediate-term outlook for 2011 based on some observations we made earlier this year. Earlier we discussed the outlook for 2011 based on an “echo analysis” of the Kress cycles. In January, Ned Davis Research produced a chart which combined the stock market’s 1-year, 4-year and 10-year tendencies. This composite chart suggested that most of this year’s gains will occur in the first half of the year. Our own composite work based on the Kress cycle “echo” phenomenon also suggested that the stock market could make a significant peak in the April-May time frame and that most of the market’s gains would be made in the first half of 2011. Full Story
By: Bob Chapman, The International Forecaster - 5 June, 2011
According to our calculations we have been in an inflationary depression since February of 2009. Everyone looks back on the deflationary depression of the 1930s as a benchmark or a reference. As far as we are concerned the 1930’s depression only ended when the powers behind government arranged another war. Few talk about the recession of the early 1920s, which only lasted two years and was caused by the newly formed Fed, which financed US participation in World War I. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 5 June, 2011
True to his word to when he met a GATA delegation in Washington a week ago, U.S. Rep. Ron Paul, R-Texas, chairman of the House Subcommittee on Domestic Monetary Policy, has begun asking the Federal Reserve questions about gold swaps, such as those admitted to GATA by Fed Governor Kevin M. Warsh in 2009: Full Story
By: John Mauldin, Millennium Wave Advisors - 5 June, 2011
Do you feel as if you are suffering from some sort of economic whiplash? Between focusing on the European crisis (and it is a crisis), then looking at softening data in the US and political turmoil in Japan, not to mention the Middle East, you can be forgiven for feeling like someone just slammed into the back of your “economic recovery car.” This week we look at today’s US employment numbers, then at a troubling slowing of economic velocity, precisely at a time when it should be rising, and then consider a powerhouse, must-be-read-twice commentary from Martin Wolf on the European situation. Full Story
Five weeks into a US stock market sell-off and the bears are starting to be taken more seriously, and not only for equities. This week in London veteran banker and scion of the greatest banking dynasty Lord Rothschild warned that time may be up for the commodities boom too. Full Story
There has been a lot of talk about another financial crisis coming, and it may have been kicked off by Mark Mobius who says it’s inevitable because the causes of the previous one haven’t yet been resolved. Full Story
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