By: The Gold Report and Adrian Day - 11 June, 2010
Chairman and CEO of his namesake company, Adrian Day Asset Management and Author of the Adrian Day's Global Analyst newsletter, Adrian Day is frequent contributor to The Gold Report because he never fails to deliver keen market insight or offer ways to safely grow your money—typically through value investing. Full Story
By: Daniel Aaronson and Lee Markowitz - 11 June, 2010
Last week, rumors surfaced that China was considering the reallocation of its foreign exchange reserves away from Euros. Although China denied the rumors, China has made changes to its reserve holdings in the past. Full Story
What if there was a hidden tax that most gold and silver investors were simply unaware of? A tax where the government would take a big chunk of your starting net worth if gold went to $2,000 an ounce, leaving you poorer than you started with? A tax that rises with inflation, so that $100,000 an ounce gold could cripple your net worth? Full Story
Escalating sovereign debt problems in Europe has prompted some to wonder if another “Lehman” type collapse is on the horizon. As a result, some precious metals observers have grown cautious, fearing a replay of the events of two years ago. While it is always prudent to be cautious with an extremely volatile sector like the gold stocks, the facts illustrate major differences between their fundamentals now and in 2008. Full Story
By: David Galland, Managing Director, Casey Research - 11 June, 2010
It’s not my intention to rehash the details of the events leading so many economies to this challenging place. Instead, I’ll cut right to the chase by stating my firm opinion that the reason this crisis is so persistent – why it won’t die anytime soon, and not without a lot of thrashing about – has to do with the debt at its core. Full Story
In our previous essay we have emphasized the importance of the analysis of the Euro Index, while evaluating recent performance of gold. We have also featured a gold chart that included a resistance level which gold has just approached. Since that was the case, you might be wondering if the final top is in or not. Full Story
The Friday June 4, 2010 Market Action for Gold (Bullion and Shares) and Equities was especially revealing of Profit Opportunities in Precious Metals. It also revealed the Threats to Precious Metals Profits and Prices, and Keys to insulating oneself against Price Takedowns. Full Story
By: David Coffin & Eric Coffin, HRA Advisories - 11 June, 2010
The Bank of Canada just doubled its overnight lending rate, to 0.5%, and became the first G8 country to do so since the Crunch. That came after a +6% growth rate in Q1 that brings Canada’s GDP to within 0.4% of its peak valuation, and strong employment gains in April. Of course the loonie dropped nearly a cent against the US$ after the rate hike was announced. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 11 June, 2010
Oil stocks have been hammered especially hard in the recent stock-market correction. With both the general stock markets and price of crude oil falling sharply, the oil stocks didn’t stand a chance. The result of all this carnage is deeply-oversold oil stocks, a fantastic buying opportunity for speculators and investors. Full Story
There is perhaps no better example of the destructive nature of government intervention than the current housing and retail goods markets. For the past three years a spend-happy Congress lavished these areas with stimulus spending, tax credits, and other palliatives all aimed at papering over the structural defects in these markets. Full Story
The “When hope turns to Fear” moment (See 2010 Outlook “When hope turns to Fear” in Tedbits archives) is unfolding as we speak, as the tides of insolvency sweep over the social welfare states and financial systems of the developed world. It is the next leg down in the global financial crisis and what will come to be known as the greatest depression ever is commencing -- we are fascinated and astonished at what the main stream media is reporting and failing to report. Full Story
The focus of this month’s post will be about gold and the gold shares. Will the price of gold record 10 straight years of gains, or might it be in for a correction? A good starting point might be to understand what happened to gold and the gold stocks in the 1920’s & 1930’s, and why. Full Story
"The Austrians were right" is a phrase we hear often now, and for good reason. The housing bubble and bust were called by the Austrians and, essentially, no one else. The Austrians were right about the dot-com bubble and bust. The Austrians were right about the 1970s stagflation and explosion in the price of gold after the gold window was closed. Full Story
The news media has been ablaze the past several days with statements by President Obama and Admiral Thad Allen, the US Government’s point man for the BP Gulf Oil Spill. For example, on Jun 8, Drudge had a headline from realclearpolitics.com which said that “Obama Goes Street: Seeking ‘Ass to Kick’” (Over Oil Spill). Full Story
If the chart below were your comatose Aunt Minnie’s EEG, her doctor might tell you it was time to pull the plug. “There’s still some electrical activity in you’re aunt’s brain,” he would explain, “but it seems highly doubtful that she will ever return to a normal and productive life.” Just so, even if it is a stock chart that we have reproduced, not an electroencephalograph. Full Story
By: Jonathan Kosares and Randal Strauss, P.E. - 10 June, 2010
The better choice is increasingly obvious. Central banks in 2009 became net buyers of gold for the first time in 20 years. Interest in the gold ETFs is at all time highs. Demand for coins and bullion at the individual investor level is so high, general availability of many popular items is hit-or-miss from week to week. It seems we're headed for a future where the price paid for gold will be eclipsed in importance by the actual ability to acquire it. Full Story
It will likely surprise you but like a trolley car we are now locked into economic tracks that determine our financial destination. Unfortunately, it isn’t a place anyone would choose knowingly other than possibly the Bilderberg elite. Full Story
My last Gold Report, written nearly two weeks ago on May 27th, made mention of gold entering a trading range. In that report I said, “From a chart perspective, gold seems be caught in an $83 trading range. The trading range’s high of 1251.4 was made on May 14th. The low of the range was made 6 trading days later at 1168.” Not a lot has changed since. Yes, August Gold did make a new contract high of 1254.5, but it’s currently trading back down to the 1225 price level. Full Story
$19.6 trillion. That’s the Treasury Department’s latest estimate of the national debt to reach by 2015. The debt has many folks concerned, and rightly so. There is, however, a much bigger problem facing the country and the U.S. dollar. Full Story
By: Jeff Clark, Casey’s International Speculator - 10 June, 2010
Shareholders were treated to a big win last month when Brett Resources (V.BBR) was bought out by Osisko Mining (T.OSK), giving investors a triple from our initial recommendation. We talked with Brett Chairman Ron Netolitzky to get the story behind how he and his team made Brett a success, along with his thoughts on the junior market and gold. We think so highly of Ron that we’ve inducted him into our Explorers’ League program... Full Story
A subscriber sent me a note a couple of days after the oil leak started. Some engineers were saying the only way to close the gulf oil leak might be with a nuclear bomb. We wondered if that was extreme or not… Full Story
By: The Gold Report and Fadel Gheit - 10 June, 2010
When folks want the straight goods on the oil and gas sector they go to Oppenheimer's sage Managing Director Fadel Gheit. That's what we wanted, too, when we asked him to spend some time with The Energy Report. In this upfront interview, Gheit rails against government inaction on oil price speculation and predicts low gas prices will soon lead to more M&A activity. Gheit's market commentary is frank and insightful and could certainly impact your investment decisions. Full Story
By: John Browne, Senior Market Strategist, Euro Pacific Capital - 10 June, 2010
In the arc of history, all great powers have their day. Even confining our glance to the modern era, countries such as Spain, France, and Great Britain all had periods of unrivalled power across the world stage. Today, the United States reigns as the world's sole superpower - but the wheel of fortune is turning. The US is being credibly challenged by rising powers in the developing world, like India and China. It is a process that will have huge implications for investors over the coming years. Full Story
We will kick off with a quick at the chart for gold prices and what a great chart it is. Despite the bears constantly jostling to be the first bear to call a major correction for gold prices to drop back to the depths of the last decade, gold is just not listening and continues to strengthen as the demand for real value grows. Full Story
All this talk about how borrowing costs are so low that Washington couldn’t possibly be facing any sort of a debt crisis – that the 3.2 percent yield on the ten-year note is somehow a vote of confidence in policies coming out of the nation’s capitol – makes me think that, just as the insane fixation on a low consumer price index was a major contributor to the financial crisis, signals coming from U.S. debt markets are being similarly misinterpreted today and this may ultimately lead to an even bigger crisis in our not-too-distant future. Full Story
By: Bob Chapman, The International Forecaster - 9 June, 2010
A monumental event is taking place in Europe, of a scope that makes the credit crisis in the US of the past almost three years, look small by comparison. Those in the financial community do not understand the ongoing detrimental effect it will have on the entire world economy. Full Story
Debt-backed paper currency is always a castle made of sand but "eventually" corresponds with debt saturation. Once debt can't be paid back and everyone knows it, what happens? Default or aggressive debasement. Full Story
The herd is running for the exits. Mutual fund investors are selling out at a faster and faster pace each week. The Investment Company Institute, which tracks mutual fund inflow and outflows, reports redemptions have been surging in equity mutual funds. The last week of April, investors put in a net $1.85 billion into stock mutual funds. Since then though, it has been all downhill. Full Story
Summing up, from the USD perspective, the gold market appears to be moving slightly higher. Still, the current rally might be more visible from the non-USD perspective, as the Euro Index is still declining. In other words, if you're trading gold for euro, sterling or other non-USD currencies, there appears to be even more upside potential for gold. Full Story
A market dependent on extreme leverage of already complex financial products does require at least some form of stability. This stability, often in the form of financial assistance, was made clear in 2008 when failing derivatives speculators were systematically bailed out after losing billions of dollars and threatening the entirety of the world economy. Full Story
By: Richard Daughty, The Mogambo Guru - 9 June, 2010
Most people have never heard of “the invisible hand” of the market, which is the surprising result of everyone working to get money with which to satisfy their own selfish interests, and it ends up benefiting everybody, a result that is so glorious that it seems that things are being guided by some “invisible hand.” Full Story
By: Rick Ackerman and Cameron Fitzgerald - 9 June, 2010
Over the last three years, the Federal Reserve has conjured up trillions of dollars of funny money in an attempt to breathe some inflation back into the economy. The attempt has cleared failed. Now, it would appear, Britain has become the first country to throw in the towel on fiscal and monetary black magic. Full Story
The derivatives market may be better reserved for a fairy tale. Comprising a value worth more than a decade of the world's productivity, the derivatives market is the sleeping giant of all asset bubbles. As you dig deeper into the financial underworld, you'll find that this sleeping giant may just be the puppet master of finance and government. Full Story
By: Frank Holmes, U.S. Global Investors Inc. - 8 June, 2010
Gold touched an intraday high of $1,254 in U.S. dollar terms today but its appreciation in Europe’s major currencies has been the story for the past few weeks. Full Story
The following is an excerpt from the free 29-page American Expatriation Guide, written by a former U.S. citizen who wants to remain anonymous. Read what he has to say – from a “been there, done that” perspective – and maybe take your own first steps to move to greener pastures. Full Story
Got Gold? I’m in Invercargill, the southern tip of South Island, New Zealand. I have one week to go before finally heading home. I want to see as much as I can. I’m supposed to be escaping the next data point. However, I cannot escape the fact that there's a tempest brewing and it’s about to make landfall. Full Story
There are many current global opportunities that might escape investors at this time. With so many different influences at hand it pays to keep the radar screen on and one eye on the markets at all times at the moment. Things are moving and developing quickly. Disaster is opportunity in disguise if you can work out how to play the situation. Full Story
The price of both gold and silver jumped in unison late yesterday as US stocks took another tumble, leaving the S&P 500 just clinging above its 1,050 support level and the Dow Jones 115 points lower at 9,816, staying below the 10,000 mark. Full Story
By: The Gold Report and Frank Holmes - 8 June, 2010
Human nature being what it is, sucker punches to the portfolio can erode more than your net worth. They can wreak havoc with your sense of self-worth as well. After more than 20 years at the helm of U.S. Global Investors, a leading investment management firm that specializes in gold, natural resources, emerging markets and global infrastructure opportunities, Frank Holmes says that it's important to segregate bad things that happen on the outside from the good person you are on the inside. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 8 June, 2010
Some of us have already witnessed the need in the past few years to exercise the need to sell gold holdings to raise cash (and pay the bills.) And this will not be the last time gold will come in handy. Remember, gold is insurance. When cash becomes unstable and questionable we use the precious metals to secure the needs we need for daily survival. Full Story
By: Richard Daughty, The Mogambo Guru - 8 June, 2010
Junior Mogambo Ranger (JMR) Phil S. sent an article from the Globe and Mail where I learned that inflation in Canada has been so persistently corrosive over the years that, like in America, “it now costs the Royal Canadian Mint more than a penny to make a penny, and because of penny ‘hoarding’ by Canadians, the mint has to keep making more.” Hahaha! “Hoarding”? Hahahaha! Full Story
Gold quotes lurched sharply higher yesterday, and we take it as especially bullish that the news media tripped over their own feet trying to explain why. Reuters reported that prices surged because of “safe-haven demand due to ongoing fears about euro zone credit contagion.” How’s that for lame analysis? Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 7 June, 2010
When gold price are slammed down in one day, as they were on Friday by more than $20 it is certain that some sort of concerted action was taken to push the price down. Fingers point at the leading U.S. banks. But then later on Friday, before its close, there came a huge surge in buying that took the gold price up to $1,220 from $1,192. This pressure equaled or bettered the downward pressures seen in that day. This bodes well this week for pressures between these two blocs to continue or even heighten until the gold price breaks one way or the other. It’s time to look at who is controlling the gold market? Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 7 June, 2010
In recent months, GDP numbers have rebounded - primarily as a result of record low interest rates reliquifying the credit market and government stimulus jolting consumer spending. Although the "positive growth" has delighted Obama's economic brain trust, it has done little to boost the fortunes of Main Street. As I have said many times, GDP largely measures spending, and spending is not growth. Full Story
This past week several emerging and ongoing crises took attention away from the ongoing sovereign debt problems in Greece. The bailouts are merely kicking the can down the road and making things worse for taxpaying citizens, here and abroad. Greece is unfortunately not unique in its irresponsible spending habits. Greek-style debt explosions are quickly spreading to other nations one by one, and yes, the United States is one of the dominoes on down the line. Full Story
The following is a transcript of an interview requested by a gold-friendly hedge fund. Q.: Professor Fekete, you are known as a staunch advocate of a return to the gold standard. But mainstream economists are saying a gold standard is not practicable and they are fighting the idea with everything they have. How do you answer their criticism? Full Story
Playing the markets is not an easy occupation. One normally thinks that it involves buying at the bottom and selling at the top. But in fact, one must make a new decision every trading day. We had a good illustration of this on Friday, June 4 when gold plunged sharply in the morning, and at the same time the dollar broke out of a small triangle to the upside. Full Story
I’ve either heard or read just about every explanation for why the stock market could plunge dramatically moving forward, and I would like to offer mine now, now that it appears the fundamentals associated with our political economy are finally aligned to sponsor such an occurrence. To get things rolling in this regard, everybody should read Jim Kunstler’s latest, where he offers a few thought provoking ideas of why things are likely moving in this direction. Full Story
We currently have the world's financial and currency markets in turmoil. The debt issues of the world, the latest being Hungary, driving down the markets on Friday. As we write this piece the gold market has exploded to the upside which is not surprising to us with our view of where we see gold in the coming months. Full Story
About the only thing we have seen enough to be bullish about is gold – because it is now so darn easy to be bearish of most all fiat currencies longer term and even more bearish of the poorly chosen elitist, vote-pandering, freedom-stealing, Big Government-loving narcissist cast and crew currently in charge in Washington. Full Story
By: Steven Saville, Speculative Investor - 7 June, 2010
In conclusion, the first of the above-mentioned Barrons articles is gold-bullish because it reflects a belief that a lot more monetary inflation will be needed to support the economy in the future, while the second is gold-bullish because it reflects gross misunderstandings of gold, money, and what a real "gold bubble" would look like. Such misunderstandings are usually prevalent in the early or middle stages of bull markets, but never near the ends of bull markets. Full Story
In this article we are going to consider the implications of gold’s new highs of late last year and a month or so ago not being confirmed by new highs in either silver or the Precious Metal stock indices, and consider other factors having an important bearing on the outlook. Normally such a non-confirmation results in a reversal, if it persists, which is why it is a focus of concern at this time. Full Story
It's sad to say but I'm afraid 90/95% of all retail traders/investors are not going to successfully ride the gold bull. The reason of course is that they are deathly afraid of draw downs. It's glaringly apparent every time gold pulls back or suffers the slightest correction. Full Story
By: Bob Chapman, The International Forecaster - 7 June, 2010
Austerity is the new go to word in Europe. Unfortunately Europe doesn’t know the meaning of the word. Greece, Spain and Portugal have already announced big spending cuts, as did Ireland and even the UK. All of the cuts are residual and not worth the volume to take into serious consideration. Cuts of $9.5 billion by the US and $12.3 billion by Germany, are a drop in the bucket. Who do they think they are fooling? Full Story
If 1+1 still equals 2 then gold will explode. It’s really that simple! Once you tune out the white noise of the main stream media, recognize Keynesian economics for the claptrap it is, and come to terms with the painful reality that policymakers and financial elites navigate the ship of state to their benefit, not yours, the basic truth of this premise should resonate with you. Full Story
If we look at a micro-analysis of the final stages of trading last Friday then it is notable that as the stock market dropped three per cent the price of gold went up and silver went down. Full Story
It’s now begun. Countries are falling, in economic speak, at an increasing rate. We will see currencies fail sooner rather than later. Gold remains the ultimate currency and must be a part of everyone’s portfolio. Full Story
The mirage of economic recovery conjured up by our political leaders and a credulous news media dimmed and flickered in the harsh light of reality on Friday, when grim employment figures for May sent stocks into one of their steepest dives of the year. Although 431,000 jobs were added last month, most of the workers were census-takers hired temporarily by the government. Full Story
1st Hour: Headline news & the Market Weatherman Report. Spotlight Stock Picks. Host Chris Waltzek & The International Forecaster discussion and listener's questions. 2nd Hour: James Turk, Goldmoney.com Peter Grandich, The Grandich Letter Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 6 June, 2010
Investment demand for gold has never been so high and it is likely to rise still further. Normally when a commodity is in high demand supply is accelerated and holders of that commodity often take profits, thereby increasing supply. Economic history tells us the same, “rising prices and high demand should result in rising supply. When it comes to gold all rules have to be re-written. That’s because gold is only part commodity. Full Story
By: John Mauldin, Millennium Wave Advisors - 6 June, 2010
The question before the jury is a simple one, but the answer is complex. Is the US in a "V"-shaped recovery? Are we returning to the old normal? A great deal hinges on the answer, and this week we look at some of the evidence before us. Full Story
By: The Gold Report and Charles Oliver - 6 June, 2010
Sprott Asset Management's Charles Oliver not only makes some bold predictions in this exclusive interview with The Gold Report, he backs them up. "I expect gold to be at $2,000 roughly two years from today. . .if I'm wrong I'll shave the hair off my head," Oliver says. Full Story
You must decide. Which default is most likely? When is it likely? When will I be affected? Then you must take expensive steps to prepare for the scenario you select as most likely. If you continue to act as if there will be no day of reckoning, you will find yourself unprepared for that day. If you sit there and do nothing, you will at some point face this reality: "There is no money." Full Story
By: Frank Holmes, U.S. Global Investors Inc. - 6 June, 2010
Urban populations are growing in Asia and may hold the key to the region’s future economic growth. The global urban population is expected to grow by 1.6 billion people by 2025, 40 percent of that coming from China and India alone. Full Story
By: Richard Daughty, The Mogambo Guru - 6 June, 2010
I have discovered that I am never, ever too drunk not to be instantly angry at the mere mention of the neo-Keynesian halfwit morons who are, despite mountains of evidence proving its complete failure, still clinging to that same, silly meth-based economic theory which I originally meant to write as “same, silly math-based economic theory” but, due to a typo, came out as “same, silly meth-based economic theory.” Full Story
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