By: Bill Bonner & The Daily Reckoning Crew - 12 October, 2007
-Moving to Argentina for more than the tango…a long-running show north of the Rio Grande…dollars from sweat and thin air look the same… -Voters and politicians making each other happy…Zimbabwe inflation greatly under-exaggerated… -A new beast in the housing market…the lax lending and subprime persuasion…and more! Full Story
By: Richard Daughty, The Mogambo Guru - 12 October, 2007
I was trying to wrap my three remaining functioning cranial neurons around this seeming paradox when I discovered that he was just toying with me! Teasing the poor mental defective cripple like the big bully he is! Full Story
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 12 October, 2007
Some prominent commentators on the gold market are giving the impression that Germany and possibly Italy, will eventually be sellers of their gold, although not in 2008, even stating that the Bundesbank is ‘not opposed to such sales’, but simply need to agree the purpose for which the proceeds will be used. These commentators even say, that German gold sales will eventually begin. We could not disagree more strongly! Full Story
DIG OUT YOUR BELL-BOTTOMS and dust off your Doobie Brothers albums! This is where inflation stops hiding behind the official CPI data...and starts eating your cash savings and income alive. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 12 October, 2007
With gold challenging $750 and oil quite comfortable north of $80, this young autumn trading season has already proven exceedingly exciting and profitable for commodities investors. But for students of the markets, today’s price levels in the metals and energy complex are certainly not surprising. Over six years ago the fundamentals already pointed to an inevitable worldwide commodities boom. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 12 October, 2007
The bottom line is that true competitiveness comes from sound money, high savings, low taxes, minimal government regulation, hard work, and the entrepreneurial spirit. Laying the hopes of America’s industrial salvation on currency devaluation will only backfire, leaving American manufacturers even less competitive in the future than they are today. Full Story
That Gold generally moves inversely to the U.S. Dollar, ceteris paribus, is almost axiomatic. When the U.S. Dollar is weak rational investors turn to traditional stores and measures of value of which the primary one is Gold-as-money. Full Story
As in the Weimar Republic, the speculative fever today will continue to build as the US Dollar falls. That is, money will flee from devaluing cash into anything that will hold or increase its value namely Stocks with Gold and Oil Stocks outperforming. Based on the above analysis this is still quite a way away. The level and magnitude of speculation will be simply breathtaking. In the interim, the already large amount of Hedge Funds and Asset Management companies will continue to grow as will their assets! Full Story
The Dollar is breaking down. Crude Oil is now over $83 a barrel, interest rate futures are in a downtrend and the Subprime issues are ongoing. The perfect storm I have been alluding to is upon us. Full Story
The price action for Gold and Silver appears as possible ending diagonal patterns, indicating that a sharp pullback is possible. We were also following ending diagonal patterns for the DOW and SPX, which completed on Oct 11th (today). When ending diagonals complete they are followed by a sharp decline to the starting point of the pattern. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 11 October, 2007
-A Spanish paradox…learning from the mistakes of Argentine economists…pre-buried gold… -A teeny-weeny worry about the dollar-peso peg…a dinner for the price of London cab fare… - Which way will the markets go today, George?…gold at 27-year highs…and more! Full Story
By: Gary Dorsch, Editor, Global Money Trends - 11 October, 2007
With Shanghai red-chips becoming increasingly expensive, a major shift into gold is already underway, with the yellow metal jumping by 10% to 5,550-yuan /ounce, since mid-August. Jewelry demand for gold is expected to be exceptionally strong this lunar year of the “Golden Pig” which only falls every 60 years. Full Story
The gold price from here onward will react to global monetary inflation, led by the US, Europe, and Japan, MORE SO than to USDollar weakness. The gold price will rise from an under-current of global banking distress. Capital inflows into the United States are inadequate to meet current account deficit needs. The gold price will rise from monetary inflation in unison, almost coordinated, as global central banks have been converted to monetary doves at the point of a gun. Full Story
By: Bob Chapman, The International Forecaster - 11 October, 2007
The US dollar is weakening and all major currencies are rising against it. Europe and the UK are slowing down. Their cheap currency days are over. Wait until the world finally realizes that the top 18 of 20 central banks are doing what the Fed is doing in creating massive money and credit. Two and a half years ago gold broke out against every major currency and that is because it is not only the dollar it is all the major currencies that have problems. Full Story
By: David N. Vaughn, Gold Letter, Inc. - 11 October, 2007
A few months ago gold was struggling to get close to the high 690s and now gold, in my opinion, is firmly entrenched with 700 the floor price. Is a sinking US dollar affecting the economy of the rest of the world? Full Story
Earnings season is now upon us and with it comes the expectation of greater volatility as both upside and downside earnings surprises are the norm for this period. This especially holds true for the important cycle that is due to bottom later this month. Full Story
By: Richard Daughty, The MOGAMBO GURU - 11 October, 2007
So it looks like about $15.4 trillion in bank assets and liabilities is being backed up by a minuscule $40.2 billion! That's a microscopic 0.0026%. A quarter of 1%! Hahahaha! Fractional reserve banking at its finest! Hahahaha! Full Story
By: Rick Ackerman, Rick's Picks - 11 October, 2007
With the Dow Industrials down 165 points yesterday, the Nasdaq index and the puts we held on it were in a bullish warp – so much so as to prevent our taking even a small a partial profit. We usually advise doing so early on in each trade, so that even if we are stopped out there will be no loss, not even a small one, after commissions. In this instance, however, the QQQs held steady and were never down more than 18 cents during the day, even when the blue chip average was getting hammered. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 10 October, 2007
-A final, desperate push by capitalism…'in' beats back 'de' in flation war…making the 'core rate' sexier… -Disguising the pain for as longs as possible…the patron saint of half-wits… -Fedspeak translations…high heating bills in our future…and more! Full Story
THE SUDDEN RUSH into gold by cash-savers and anxious investors amid the banking panic of Sept. 2007 took the gold price to new 27-year highs on October 1st. Finally beating the peak of May 2006, which led to a 22% pullback and 16 months of disappointment for anyone buying gold at that top, gold also rose sharply against Euros, British Pounds, the Japanese Yen and Swiss Franc – a classic sign in this bull run so far of a genuine gear-shift. Full Story
Anyone who thinks that the super-rich, the rich, and the wanna-be rich who comprise Wall Street are defenders of prosperity in the name of the middle class is terminally naïve. He is confusing Wall Street with the free market. Full Story
Economic collusion? Bailout Ben Bernanke needed some help before September meeting on U.S. interest rates. He needed economic numbers to justify an interest rate cut intended to bailout the banks. U.S. Department of Labor(DOL) apparently was quite willing to aid the FOMC. Full Story
Both gold and silver have had attractive and improving supply and demand fundamentals for many years running. Demand for gold jewelry has exceeded mine supply with Central Bankers making up the shortfall with what is by far their most precious reserve asset. The stated reason was to achieve higher income while the real reason was to suppress the price. Full Story
By: Richard Daughty, The MOGAMBO GURU - 10 October, 2007
The majority must always be wrong! Therefore, it is crucial that they remain clueless at this stage of the coming gold, silver, oil and commodities boom, while the Wily, Scheming, Greedy Pigs (WSGP) of us buy gold, silver and oil at bargain rates! Full Story
By: Rick Ackerman, Rick's Picks - 10 October, 2007
Take it from a hard-core permabear: This market is going higher – possibly much higher. We edged our forecast for the Dow Industrials up to 15175 a while back, even as we were telling you that the real estate sector is about to become a Depressionary bog. Are these forecasts necessarily incompatible? Only if you are the sort who thinks logically, as opposed to imaginatively. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 9 October, 2007
-Peace and prosperity 'comeback' with the 'kids'…sickly dollar made to look healthy…a search for the golden question… -The good old days of bank complacency…like a fireman with a bucket of gasoline…the financial speed of light… -Waiting for the next and spooky FOMC meeting…pleading for central bankers to get a backbone…London is still too expensive…and more! Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 9 October, 2007
Because of recent inquiries to GATA about the possibility of an attempt by the U.S. Government to confiscate privately held gold and silver bullion and coins and shares in companies mining the precious metals, we're republishing here the correspondence between GATA and the U.S. Treasury Department on the subject in 2005. Full Story
By: Boris Sobolev, Resource Stock Guide - 9 October, 2007
At a time when a dramatic August correction on gold stocks has almost been forgotten, the junior mining and exploration companies continue to lag behind. Especially notable is the underperformance of the RSG Gold Junior Index consisting of 15 small gold producers. The ratio between junior gold producers and the HUI Gold Bugs Index is now at its lowest level in almost two years. Full Story
The lesson of history, after all, is that nothing lasts forever...nothing, perhaps, except gold. Least reactive of all metals, and impossible to destroy with anything other than cyanide to dissolve it, gold had been used as a store of wealth across the world for more than 3,500 years. Full Story
By: Steven Saville, Speculative Investor - 9 October, 2007
A widely held opinion is that the Fed's decision to start cutting interest rates will put irresistible downward pressure on the US$ over the coming months. Later we'll point out one way in which this opinion could actually prove to be correct, but first we'll present evidence to show that the 'Fed-rate-cuts-will-soon-lead-to-additional-dollar-weakness' argument is not supported by the historical record. Full Story
As we collectively move towards the economic disaster awaiting us, the investment community is hoping the world’s central banks will be able to save them from the crisis set in motion by this summer’s credit collapse. If the truth be known—and someday it will be—central banks are at the very center of today’s problems. Indeed, they caused them. Full Story
By: Richard Daughty, The MOGAMBO GURU - 9 October, 2007
As for the apparent disrespect for silver, it's the vector you get from history…and the suspicion that comes from an enigma, wrapped in a mystery, wrapped in a corrupt, stinking, filthy Comex/Nynex/government mess, so that now we are freaking doomed. Full Story
Two bellwether stocks, Apple and Google, exceeded challenging Hidden Pivot rally targets yesterday, promising to lead the broad averages higher over the next several days. Full Story
By: Bill Bonner & The Daily Reckoning Crew - 8 October, 2007
-Being surprised in Argentina beats being depressed in London…losing the guns and the butter…buried treasure not just for pirates… -A friendly suggestion to financial journalists…your house or a crop of lettuce?…being out-bid for the same gas tank… -Debt related suicide…market infected with a false sense of euphoria…can you handle the truth about the BLS?…and more! Full Story
We have been bullish on the broad stockmarket on the site, but short to medium-term bearish on gold and silver in the recent past and by extension gold and silver stocks, due principally to the distribution patterns that have formed in the metals and their increasingly bearish COT structure, especially gold. However, there is an inconsistency here that is becoming increasingly obvious and has led to a re-evaluation over the past couple of days. Full Story
We succeeded in sidestepping a hefty reaction in silver early last week, but while gold has already made good most of its losses of early last week, silver has not - yet, and long positions can therefore be reinstated at a better price, although some traders may prefer to wait for the "triple breakout" referred to in the Gold Market update before going long. Full Story
When we look at the markets now, it hardly seems like the sub-prime debacle ever hit us. The negative news about the big banks writing off billions due to these bad loans has virtually no impact any more. The DOW is charging higher as it was in the best days of the nineties. Have people really deluded themselves into thinking that the worst is over? Full Story
We had a little scare earlier in the week but it may be all over now -- or is it? Will world events control the fortunes of gold or will it be the US $? Push/pull, whatever. Full Story
Many of the markets appear to be overbought: the stock market, commodities, oil, the precious metals, real estate, to name but a few. All brought to you by an endless supply of credit that started long ago under the guidance of Sir Alan and his band of merry men. It appears that some corrections may be forthcoming. Full Story
Since the Fed interest rate cut in September, the stock markets across much of the world took the cue to let rip with strong bullish rallies. The trigger for the rally is a switch in market perceptions from interest rate rises to interest rate cuts. The market is therefore pricing in more interest rate cuts AND lower inflation. Full Story
SPOT GOLD PRICES fell in early trade on Monday, slipping 0.5% in Asia and then dropping further to bounce off $736.50 twice in London this morning. That level also marked the AM Fix in London, recording a loss of more than $9 per ounce from last week's start. Full Story
1st Hour: Headline news & market forecast. Spotlight Picks with big dividends. The International Forecaster and Chris Waltzek answer listener questions.
By: Bob Chapman, The International Forecaster - 7 October, 2007
In a story reminiscent of the tall tales about Paul Bunyan and his blue ox, "Babe," the cartel arranged for the greatest phantom creation of nonexistent jobs of all time, and no one believed them. Stocks rose anyway thanks to the PPT's weakening of the yen, with the Dow gaining about 92 to close at 14,066.01. Stock market traders can kiss their derrieres goodbye as this means rate cuts are not very likely in the near term, so the cuts they have priced in may never happen until much later. Full Story
By: John Mauldin, Millenium Wave Advisors - 7 October, 2007
The market certainly seemed pleased with the new jobs number. The glass is more than half full - or is it? Fed Vice-chairman seemed to suggest that the economy was getting better and the Fed might not need to make any further rate cuts. Is it now "One (Cut) and Done?" This week we look at what employment growth tells us about the growth of the US economy, spend some more time looking at how a fall in home prices will affect consumer spending, and muse on whether the Fed is indeed done cutting. Full Story
By: Richard Daughty, The MOGAMBO GURU - 7 October, 2007
And all of this money was created so that the American government could slide into the stinking swamp of communism, as over one-half (the majority) of Americans get their income from government… Full Story
The content on this site is protected
by U.S. and international copyright laws and is the property of GoldSeek.com
and/or the providers of the content under license. By "content" we mean any
information, mode of expression, or other materials and services found on GoldSeek.com.
This includes editorials, news, our writings, graphics, and any and all other
features found on the site. Please contact
us for any further information.
Live GoldSeek Visitor Map | Disclaimer
The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy
or completeness of the information (including news, editorials, prices, statistics,
analyses and the like) provided through its service. Any copying, reproduction
and/or redistribution of any of the documents, data, content or materials contained
on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC,
is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be
liable to any person for any decision made or action taken in reliance upon
the information provided herein.
