By: Bill Bonner & The Daily Reckoning Crew - 11 January, 2008
-The deafening sound of chopper blades as Helicopter Ben begins preparing for his great money drop… -The loosest regime in the Western world…finally starting to sink in that high oil prices are here to stay… -House prices going down in Ireland…a car accident in Argentina - the saga continues…and more! Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 11 January, 2008
The young new year has not been very happy at all for the stock markets. In the first five trading days of 2008 alone, the S&P 500 bled a brutal 5.3%. This sharp slide nearly doubled the SPX’s losses since early October to 11.2%. Once a general-market correction exceeds 10%, Wall Street gets nervous. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 11 January, 2008
Holding onto its "all is well" bias like a terrified cowboy on an enraged bull, Wall Street has managed to convince itself, and much of the world, that inflation is a non-issue. When confronted with facts to the contrary, their rationalizations come fast and thick. Nowhere is this spin more pronounced than in their dismissal of the surging price of gold as a relevant indicator. Full Story
By: Sol Palha, Tactical Investor - 11 January, 2008
As we stated in the last two weeks it appeared that the Dow was set to pull back due to the rapid pace at which it had advanced and due to the sell signals our smart money indicator had flashed on the hourly charts. Our volatility readings are still sky high and this suggests that the markets are going to continue to remain highly volatile; hence continue to expect huge up and down moves but eventually the moves will start to occur more in the upward direction than the downward direction. Full Story
The credit freeze-up and subprime mortgage crises have not been resolved. Indeed, banks are hoarding their liquidity, are reluctant to lend to one another, and are justifiably skeptical of ostensible counterparty strength, in existing or prospective private transactions. Full Story
By: Nick Barisheff, Bullion Management Group - 11 January, 2008
Today, price forecasts for gold in 2008 range from $725 to $1,100 per ounce, but it still does not really matter. Over the long term, prices of precious metals - gold, silver and platinum - will rise to much higher levels, in all currencies. This is because the underlying factors causing the increases will not only continue, but will likely accelerate. Full Story
By: Jason Hommel, Silver Stock Report - 11 January, 2008
I prefer 100 oz. bars, because they are easiest for me to count, and stack. But really, just get the most silver for the least money. About $.50 over spot is an excellent price, but in a fast rising market that is moving $.50/day, about $1 over spot may be more realistic. Full Story
By: Richard Daughty, The MOGAMBO GURU - 11 January, 2008
An entire third of the grain output of the American farm system will disappear from the world's food supply? On top of the terrifying increases in prices we are already seeing? Yow! We are totally, totally, totally freaking screwed! Full Story
By: Rick Ackerman, Rick's Picks - 11 January, 2008
In the chart below, it’s plain to see that DaBoyz lacked the guts yesterday to promote an all-out short squeeze. The S&Ps may have rallied 40 points from their intraday lows, but look at how the top of the rally failed to take out any meaningful highs to the left of it. In Hidden Pivot terms, there is no bullish impulse leg here to get excited about, only little stuff that would be useful merely for scalping. Full Story
Job growth is slowing. AT&T now says that certain segments of its customers are falling behind on paying their phone bills. Crude Oil is stuck in the mid-90’s. Day after day we hear of more losses in sub-prime markets and now there is anxiety about bond insurers. Merrill Lynch and Citigroup are selling large stakes in their ownership to foreign governments. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 10 January, 2008
-Mr. Market is going to do what he wants - no matter which way we yank him…boom - or bust? -The feds can't stop a slump…downsizing will be all the rage in the coming years - much to McDonald's chagrin… -Our friend Michael Masterson's book is dominating Amazon - find out how you can get your copy…and more! Full Story
The US system has been the dog led by the financial sector tail, as the tail wags the dog, for over two decades. Systematically, the United States has abandoned manufacturing in favor of financial sector dominance with futile attempts to manage inflation, and money changers pushing to foreign lands the capacity that actually makes things and adds value. Such is the painful costly consequence of chronic monetary inflation. Full Story
The recent triangle was wave 4 of wave I. It was the correction anticipated to be about 8%, give or take 1-2%. The maximum magnitude of the decline was 7.4%, precisely as required. This determines the location of wave 4. Fourth waves are often triangles. Wave 3 was a typically strong third wave, often the strongest in the sequence. Full Story
Many people are finally saying the R word: Recession. The fundamentals don't look good. The externals are even scarier: dollar and stocks skidding, gold and other prices (particularly producer prices) rising. But what has tipped the psychological scales is the statistic no one has cared much about in many years: unemployment. Full Story
By: Bob Chapman, The International Forecaster - 10 January, 2008
We have to laugh at economists; analysts and other writers who think a recession may have begun. It’s evidently time for them to join the herd – it’s safe now. They won’t get ostracized for making such a decision before their peers. They won’t be scolded by management or lose their jobs. We said a recession began more than a year ago. We were right and as usual most everyone else was wrong. Full Story
The start of 2008 has brought with it the first official sighting of $100 oil. I say ”first” because the age of cheap oil is coming to a close. While no one can say with absolute certainty where prices will go from here, the odds are in favor of them moving much, much higher. Full Story
By: Richard Daughty, The MOGAMBO GURU - 10 January, 2008
Not surprisingly, 'The Fed announcement indicated that the auction process it began last month has been successful in providing a source of loans for cash-strapped banks.' Hahaha! Free money is popular? Hahaha! Who knew? Hahaha! Popular? Full Story
By: Rick Ackerman, Rick's Picks - 10 January, 2008
When we warned of an imminent 320-point fall in the Dow Sunday night, we admonished subscribers not to share a related S&P target with their friends, lest the publicity “queer” the prediction. We needn’t have worried. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 9 January, 2008
Wow! Can you believe what gold is doing? It literally has broken every established record climbing to where it has never been before. So far it has climbed as high as 870 before leveling back a bit. Just remember though. This is not about gold. This is actually about deteriorating world economic and political events. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 9 January, 2008
-Sell stocks; buy gold…the new global currency…the Titans are going to destroy the U.S. economy… -No easy answers…trying to avoid 'the Greatest of All Dangers'… -Gold beyond $2000?…Bill Bonner - the next Gene Autry?…and more! Full Story
Gold is no longer “dirt” cheap but it’s not even fairly priced, let alone expensive. I think we’re only in the fourth or fifth inning of at least a nine-inning secular bull market. The difference this year versus this time last year is that we’re likely going to see a change in the leadership of factors. Full Story
By: Jason Hommel, Silver Stock Report - 9 January, 2008
As silver moves from $16/oz. to $408/oz., which is literally guaranteed by historical ratios and historical inflation measures, and insured by the silver scarcity, many people will make well over 2500% (as denominated in dollars) on their silver investment. Over what time frame? Who can say? I expect annual returns to average about 50% until that final goal is reached. Full Story
Gold is making new highs in practically every currency in the world. A consolidation period that lasted for over a year and a half is over and gold is now rallying, not only due to weakness in the US dollar but also due to high investment demand around the world. This is the strongest bull market confirmation yet. Gold has now become the strongest currency. Full Story
By: Julian D. W. Phillips & Peter Spina, Gold/Silver Forecaster - Global Watch - 9 January, 2008
As gold is now commonly being spoken of going to $1,000, as it goes above $850/ounce and as part of our forecasts for 2008, it is appropriate to continue to give you the next step in the evolution of gold that began at the end of the last century, after having been virtually discarded for the last twenty years of the last century. Full Story
By: Richard Daughty, The MOGAMBO GURU - 9 January, 2008
Instead of the town saying, 'Oh, my God! What kind of ravenous vampires have we become?' and lowering their…damned taxes, 'The town is pushing a program that would let seniors work part-time…to help pay off some of their property taxes.'" Full Story
Now that’s more like it: Gold up, stocks down! Felt right as rain, didn’t it? And to make things even sweeter, we had both sides of the trade nailed, naked-shorting Diamond January 130 calls on Monday’s close (as announced in the Rick’s Picks chat room in real time), then jumping on Comex Gold futures that same night, just before they really took off. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 8 January, 2008
-Putting the high oil price in perspective…there is a foul odor coming from the financial barrel… -Gold continues to do its job - telling the truth about what things are really worth…the yellow metal and oil may be at record prices, but salaries have gone nowhere… -Jiggling and crunching the numbers…the education industry has the entire country bamboozled…and more! Full Story
THE FINANCIAL TIMES just chose Jean-Claude Trichet – head of the European Central Bank (ECB) – as its "Person of the Year, 2007". Okay, so Time magazine had to settle for Vladimir Putin – the former KGB spook now rehearsing his puppeteer skills at the Kremlin. But was the FT's short-list really that bad? Couldn't Paris Hilton clear a space in her diary to claim the award instead? Full Story
Unfortunately for the bulls, instead of the expected rise they got a blow to the chin, with prices dropping rather heavily these first few days after still more disappointing economic news. In contrast to the major markets, precious metals went in the opposite direction, charging higher from the start with Gold even setting a new record nominal high. Full Story
Gold Stocks are up 1,000% since 2000 and Oil Stocks 300% since 2003. Yet the public remains conspicuously absent. Not for long if the Fed has anything to say about it… Full Story
By: Steven Saville, Speculative Investor - 8 January, 2008
It is remarkable that even the best financial-market analysts are managing to analyze the on-going debt crisis whilst avoiding any mention of the crisis' root cause. The ultimate blame for the crisis lies at the feet of the central banking community and the inherently unsound monetary system it foists on us, and yet almost all the attention is being directed towards the parts played by private-sector debt creators and financial intermediaries. Full Story
By: Richard Daughty, The MOGAMBO GURU - 8 January, 2008
You gotta admit; it seems to be a compelling argument; the money supply will fall as loans go bad, which means consumer prices will fall. And with loans going bad, nobody is going to either make a loan or take one, and so the money supply will not grow. Full Story
Watching yesterday’s ups and down on Wall Street, we initially thought the rallies seemed too subdued to have been caused by short-covering. But the spirited, nit-witty frisson in the final minutes of the session (see chart below) convinced us that that’s what was going on. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 7 January, 2008
-The 'Sushi Funk' of the uncorked New Year…the economic struggle to get out of bed in the morning… -Sowing as the Japanese sowed…a gaucho that dabbles in economics… -Christmas on the Delta…a paddle for Plan B…and more! Full Story
Yes, the time has come dear gold bug. The time has come which is the fulfillment of our most intense wishes. This is the explosive, dynamic gold move we have imagined in our secret dreams but have never dared mention aloud. Let us discuss first the technical and then the fundamental arguments. Full Story
Considering their history and bag of dirty tricks, I don’t feel comfortable in pronouncing the dealers dead until they have a wooden stake through their hearts. Long-term silver positions should be held, but with the recognition we are in high-risk territory. Full Story
We do not intend to start 2008 off by offering a preachy commentary about how best to invest – in any event an investment pre-disposition will not be materially altered by a simple 2000 word essay. However, we will offer some contrarian viewpoints that may help illuminate different and potentially opportunistic possibilities. Full Story
The inflation and deflation camps are now at completely opposite ends of the spectrum – each staring the other down in a Mexican Standoff of sorts. In this regard it’s not uncommon to find articles telling us why inflation is the big concern right along side others that provide lucid arguments as to why 1929 is just around the corner. Full Story
It sure has been a week for gold and its shares this first week of 2008. Right from the start gold blasted through its 1980 all time high and the gold shares exploded to the upside as well thereby finally showing some signs of strength after failing to out perform gold for quite a while. Now what can we expect from gold and its shares this year? Full Story
THE SPOT GOLD MARKET bounced from a 0.7% dip early Monday, reaching $861 per ounce by lunchtime in London as crude oil prices slipped on forecasts of warmer weather in Britain, Europe and the north-eastern United States. Full Story
I have just finished my year end evaluation and the old portfolio looks pretty good. A 21% return over the last two years and a 15% return over the last 6 years. But then I had to ask myself, “What is a fair rate of return in this market”? Full Story
When the US succeeded England as a world power, the bankers instituted the same system of debt-based money in the US but with very different results. Now in 2008, after three centuries of fueling economic expansion, the magic of the moneychangers has reached its limits. The end of an epoch is at hand. Full Story
1st Hour: Headline news & market forecast. Spotlight Picks with big dividends. The International Forecaster and Chris Waltzek answer listener questions. 2nd Hour: Richard Daughty - The Mogambo Guru Full Story
Gold’s bull market is not a U.S. dollar–centric market, it is occurring versus all currencies. This shows good underlying strength. It also shows how all world currencies are paper fiat debt-money that continually loses purchasing power and value. Full Story
I am not writing this for those readers who have bought gold and silver, sold their stocks, and bought foreign currencies. I am writing this for readers who have read my recommendations for over six years and who have not done what I recommended. Full Story
By: Bob Chapman, The International Forecaster - 6 January, 2008
Now, international banking is scrambling for survival in a battle that has already been lost. We fully expect their financial system will move from one calamity to another over the next three to five years. Yes, we could have that one staggering blow that could take the system down, but do not plan on that. The elitists are still arrogantly in control. In spite of that, they have lost, and the system will continue to deteriorate as stagflation takes gold and silver to previously unexpected heights. Full Story
The world is dealing with a Sub-Prime crisis, an Evaporation of Credit crisis, a Banking Solvency crisis, a US Dollar crisis and an International Monetary crisis. These roll into one to produce the “Mother of All Crises”, the “Perfect Storm” crisis. Full Story
As we enter 2008, gold is hitting a new record high. That’s a great way to kick off the new year and it looks like there’s a lot more to come. Why? Full Story
My forecasts for 2008 remain firmly entrenched in the commodities sectors. I have been unashamedly bullish on commodities for the past three years and have absolutely no reasons to change my analysis. The only difference this year will be that the gold shares will play catch up and I am looking for at least a 100% move in this sector. Full Story
By: John Mauldin, Millenium Wave Advisors - 6 January, 2008
It's that time of year, when I throw caution to the wind and present my annual forecast issue. Jumping to the conclusion, I think a recession has begun, so the relevant question is to ask when the recovery will begin. We will look at the housing market, the continued implosion of the credit markets, and the deteriorating employment picture. Full Story
Even the most causal student of Economic History knows that the United States’ Federal Reserve system, or “The Fed” as it is called, is not a U.S. government owned or controlled entity. Full Story
This is a great way to start 2008. There are no wrong moves in the silver market (unless you're selling) and there are no wrong moves in the Silver Valley. The only thing that can attempt to destroy this market is an attack by the full faith and credit of the United Snakes Government. And they have neither faith nor credit. Bring on the snow. It's our time. Get aboard. Full Story
By: Richard Daughty, The MOGAMBO GURU - 6 January, 2008
The beauty of a gold-as-money economic system is that inflation in prices is all but impossible under a gold standard under normal conditions with a restrained banking system, and…ruinous inflation is inevitable under a fiat currency standard. Full Story
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