By: Bill Bonner & The Daily Reckoning Crew - 12 January, 2007
-We can hardly wait for 2114…are we really supposed to care that Posh and Becks move to LA? -Enough reasons to worry…an excessive amount of discretion… -Thank God for the vigilance of the Atlanta police…and more! Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 12 January, 2007
With the price of crude oil now down over 30% from its August high of nearly $80 per barrel, many have concluded that the bull market is over. While the recent decline is somewhat steeper than the five 20% -30% corrections experienced since 2001 (when the current bull market in oil began), I feel that this pullback no more signals the arrival of a bear market than any of those previous dips. Full Story
Those who doubt that market manipulation exists should reread the aforementioned and consider the $5.8 TRILLION in derivatives that the Cartel appears to have devoted to crude oil market intervention and the $360 billion plus in derivatives The Cartel has apparently devoted to gold and silver. Full Story
The gap between the 'haves' and 'have-yachts' keeps growing with the stock market. Watch out for that iceberg. More than 1,000 yachts went on display last week at the New York National Boat Show. They included the $1.1 million Cruisers Yacht 520 Express. Full Story
By: Rick Ackerman, Rick's Picks - 12 January, 2007
I’ll believe energy is in a bear market –as opposed to a nasty correction – when I see unleaded regular down around $1.50 a gallon. Sure, it’s nice to read for a change that oft-beleaguered consumers evidently have OPEC on the run: “An emergency meeting should not be ruled out,” a senior cartel spokesman told the Wall Street Journal on Thursday. This, on top of an earlier pledge by the ministers to cut the world’s daily ration by 1.7 million barrels. Full Story
By: Ian Mathias & The Daily Reckoning Crew - 11 January, 2007
-Greenspan strikes back…Surprise! Things actually look good… -Why is gold doing better than other commodities?…little incidents in Venezuela and Thailand… -Let them eat steak - but invest in farmland before you do…and more! Full Story
Recently I wrote an article titled: Gold Reserve Audit 2005. As fate and fortune would have it, my article caught the eye of one Mr. Thomas Szabo – a forthright individual who loves to tell it like it is. As he honestly and intrepidly admonishes: “A word of warning. We are brutal in our honesty and we will not hold back in fear of making anybody, including company management, angry at us.” [1] Cool. I’m not sure who the we is, but hey – the more the merrier. Full Story
A well-respected independent economist and strategist with a bearish trait told me recently that he wished he could be bearish, but that he couldn't find anything that he thought would disturb the asset markets and the global economy in the foreseeable future. Looking at the "real" global economy and at what people produce in terms of manufactured goods and services (ex-financial services), I would have to agree. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 11 January, 2007
Volatility always confirms the presence of powerful market forces attempting to move a price in one direction or another. But we always come back to a simple principal. You cannot hold a spring down forever. It eventually moves forward and higher. Same with gold. Gold is heading well higher this year and it is not just me making this prediction. Top experts in this field are also predicting gold will reach new highs this year. Full Story
By: Rick Ackerman, Rick's Picks - 11 January, 2007
Even dumber than those who believe the housing bust has already run its course are those who think the Fed will be able to hold deflation at bay by “printing money”. This is such a contemptibly stupid idea that one would think it would have no currency at all outside of the academy, CNBC and the Federal Reserve’s own Open Market Committee. In fact, it represents the popular wisdom on the subject. I’ve done my best to dispel such notions, explaining here in voluminous detail why we could no more bail out a deflating economy with so-called printing-press than we could avoid a collision with an asteroid by changing the orbit of the Earth. Full Story
By: Bob Chapman, The International Forecaster - 10 January, 2007
Last week’s credit creation figures continued their assent along with ever growing money supply. Banking, Wall Street, hedge funds and corporate America continue to employ this deluge. The entire future of the American and world economy lies in the hands of the Fed, other central banks and their wanton, unregulated, creation of liquidity and derivatives. The resultant speculation and enormous leverage are already at extremes so that the boom won’t falter. We know the western central banks cannot stop what they are doing, because if they do the system will collapse. Full Story
By: Nathan Lewis & The Daily Reckoning Crew - 10 January, 2007
-Too much funny news to choose from...does anyone even read Thomas Friedman anymore? -A banana republic gone sour...gold may never be this good again... -The rich flock to London...and more! Full Story
By: Richard Daughty, The MOGAMBO GURU - 10 January, 2007
Total Fed Credit expanded another $7.3 billion to $859 billion last week and another $3 billion in actual cash was created, but being already safely ensconced inside the Fortified Bunker Of The Mogambo (FBOTM) nicely attenuated my stark terror to, thankfully, barely-controllable levels. A few tranquilizers, some assorted anti-depressants, a bourbon neat with a beer back, a little light Mozart on the stereo, my pockets loaded with gold, the door locked, my back against a wall, and a loaded Uzi in each hand make things seem to be under Complete Mogambo Control (CMC). Full Story
Ian McAvity is a GOM. A GOM is a Grand Old Man. When you’re a young hot-shot, you don’t plan on becoming a GOM. You plan on remaining a youthful hot shot. With a few exceptions, such as Warren Buffett, youthful hot shots become whiz kids emeriti. The problem is, the ones who eventually do become GOMs are not recognized as hot shots until they are middle-aged, decades after people should have bought their holding companies’ stocks and held onto them, no matter what. Full Story
By: Dr. Marc Faber & The Daily Reckoning Crew - 9 January, 2007
-The Democrats are putting their collective foot down...the struggle for power never ends in Washington... -Soothing sound bites lulling the average consumer into a false sense of security... -Marc Faber sees a "severe correction" ahead for global assets...and more! Full Story
Conversely, if Salinas’ silver remonetization plan is adopted, this will be akin to building a bridge from economic darkness (wrought by modern central banking), to a place where saving, capital formation, and entrepreneurship will allow prosperity to emerge from the ashes of fiat money. Salinas is keenly aware that prosperity’s silver lining is peace itself. Hence, the Norwegian Nobel Committee should take great interest in Hugo Salinas Price’s body of work, and personal sacrifice, as there is no greater advocate for peace on this planet. Full Story
I firmly believe that the quality junior mining companies are going to reestablish themselves in the next several years after a year of going sideways. People are going to make fortunes in this sector over the next several years and Id like you to be one of them. At the very least, I'd like to see you double your money. Again, it's up to you and how you approach the topic. It is but one way, out of many, to make a few dollars, but it is also a way to begin changing arthritic mindsets that have calcified our thinking into petrified debt. Full Story
By: David Morgan, Silver Investor - 9 January, 2007
I was asked to reenact a dramatic scene from the movie Rollover (1981), which is a rather frightening worldwide currency crisis, depicted when oil money is withdrawn from the banking system. Although a total hypothetical scenario, it brings into crystal clear focus what systemic risk is all about. Full Story
Although Monday’s modest rally could be the start of a more significant thrust, I wouldn’t bet on it. Look at the DJIA chart below and you can see why. Although the blue chip average recouped an opening hour deficit and then some, its intraday peak failed to surpass the 12477 high recorded last Friday. Usually, when the bull means business, it will take out some prior peak visible to the left of it. Moreover, the more obscure and seemingly insignificant that peak seems, the more important and reliable it often proves to be with respect to a bigger picture. Full Story
By: The Mogambo Guru & The Daily Reckoning Crew - 8 January, 2007
-Fat women and thin investment margins… -Middle class delusions are blamed on political flim-flammery… -If a dollar falls in the woods, do any of our readers hear it…planning our funeral…and more! Full Story
1st Hour: * A review of this weeks top market headlines. * Goldseek Radio's Spotlight Pick. If you'd like to be added to Chris's free Spotlight Pick e-mail list, for each weeks ticker symbols and related information, please send a message to: goldseekradio@hughes.net * Bob Chapman and Chris Waltzek discuss the Top 10 market events of 2006 and answer listener's questions. * Gary Kaltbaum from Fox News joins the broadcast. 2nd Hour: * Featured guest: Kal Gronvall from The Gold & Silver Exchange. * Kal & Chris discuss the markets and Kal reveals a dangerous new scam in the coin industry. Full Story
In order to soften the coming blow of a credit collapse, a group of concerned citizens has decided to establish, in the year 2007, the Gold Standard University Live, home for the study of monetary issues placed under taboo by other institutions of higher learning. Here is a partial list of forbidden research topics. Full Story
By: Bob Chapman, The International Forecaster - 8 January, 2007
We see the dollar at 70 to 72 or 55 to 59 before 2007 ends. That is based on the US dollar index USDX at 83.68. Below the surface of our financial markets and our economy lies a volcano that is ready to blow. The first 11 months of our current recession are over and the groundwork has been set for a tumultuous second and more severe segment of this recession. You must prepare as quickly as possible by eliminating as much debt as possible and investing as much money as is prudent into gold and silver related assets. Full Story
I suppose the main point I am trying to make is that investors should attempt to meet each new day with an open mind and a serious attitude. Nobody, but nobody knows what will happen or where we are going. There is a spectrum encompassing everything from technological nirvana and global productivity to the fear of the dreaded "Amero" (memo to global elitists if you exist: that is a really tacky name, how about something like the "Monopo") and it is the job of investors, if they are serious, to approach it all with balance and thoughtfulness. My personal stance remains one in which I actively and optimistically participate in the real economy with hopes for the best, but also with extreme awareness as to the size of that elephant. Full Story
By: John Mauldin, Millenium Wave Advisors - 7 January, 2007
How has another year come and gone so quickly? It seems like someone hit the fast forward button. And once again, all too soon, it is time for me to demonstrate my masochistic nature and write a forecast issue. Rather than going into details on every topic, I will try and stick to the big picture and leave the fine points for later letters. Full Story
We caught the exact low of gold’s $23 plunge in the chat room Friday with a 603.00 projection, but I wouldn’t count on it to hold. The good news is that a promising Hidden Pivot support lies not far below it at 594.50. It looks capable of engendering the turnaround so many have been patiently awaiting for so long. If the action in February Gold plays out as expected, it would correspond to a 40.94 downside target in Newmont Mining that was flagged here recently. Full Story
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