Physical Gold in your personal possession is the only thing that will survive the coming financial Armageddon. What we are witnessing right now is nothing but the calm before the storm. Keen observers are hearing rumblings beneath the ground signaling an imminent volcanic eruption. Once it blows it will be too late to take action. Full Story
It’s now been a year since the dark days of early March 2009, when, although no one knew it at the time, the stock market hit rock bottom. From there, all of the indexes went on a tear through the rest of the year, moving almost uninterruptedly higher before easing slightly in the first two months of 2010. At this writing (March 5), the Dow is still up 60%, the S&P 500 68%, and the NASDAQ 83%. Full Story
As the commencement of the next leg down in the developed world’s economies continues to unfold like the sunset at the end of the day, the emerging world is HEALTHIER than ever and economic sunrise is still on their horizons. Economic trains traveling in completely different directions. In the emerging world, growth, capitalism, creative destruction and competition are embraced; they know the recipe for an expanding economy which means more food on everyone’s plates. Full Story
By: Peter Schiff, Euro Pacific Capital, Inc. - 12 March, 2010
By late 2009, as the U.S. dollar flirted with multi-year lows against most foreign currencies, big investment players crowded into trades that shorted the greenback. Commentators noted that the anti-dollar momentum had taken on a life of its own and that the trade had become too crowded. It is true that markets have a nasty tendency to move against the crowd. When a lot of traders agree on a particular trade, it's more likely that in the short-run the opposite trade will be a winner. Full Story
There are 7 stages to executing a successful sting operation. Whether this is the modus operandi behind the Sultans of Swap operating in the $605 Trillion OTC Derivatives market or just simple coincidence, I will leave it to you shrewd reader to determine. The seven stages do however offer us an instructive theater guide to better understanding these murky instruments called Interest Rate Swaps. Full Story
Another circus has come to town which causes us all to be on the edge of our seats, displays little in the form of talent, and yet charges an exorbitant fee for attendance, which some might say is mandatory. Yes, we have our own three-ring circus in America today and it consists of the Bureau of Labor Statistics, the US Treasury, and the Commerce Department – all overlaid by the mainstream media. Full Story
Gold has run into strong resistance every single time it has tried to trade past the 1140 mark. Secondly, it behaved very strangely on Monday and today (Friday, 12th march 2010) by dropping in the face of a lower dollar and this at least in the short term suggests that Gold is more likely to correct than trade to new highs. The weekly sell signal has been neutralized but not invalidated, and once it is activated again it should lead to a rather sharp pull back. Full Story
Summing up, speculative bullish positions right now should be done with extreme caution, and only if you are able to monitor the market for almost the whole session. We realize that it doesn't sound encouraging especially for active Traders, but opening a speculative position at this point doesn't seem justified from the risk/reward point of view. Naturally, that is just our opinion and since it is ultimately you, who manages your money, we respect and are perfectly fine with whatever decision you make. Full Story
By: Daniel Aaronson and Lee Markowitz - 12 March, 2010
Despite pronounced risks in certain credit instruments, people have been investing record amounts of money into anything with a yield. For example, municipal bond funds had bubble-like inflows in 2009 despite municipalities having well known fiscal imbalances (Figure 1). In fact, inflows of $69 billion in 2009 were more than 4x the amount of the next highest annual inflows, which were recorded in 2002. Full Story
By: Adam Hamilton, Zeal Intelligence LLC - 12 March, 2010
The US Mint’s popular American Eagle gold and silver coins remain in high demand by US investors. Working to overcome production bottlenecks, the Mint radically stepped up operations last year to the highest levels by far of this entire secular gold bull. The Mint’s Eagle sales data offers interesting insights into physical precious-metals demand. Full Story
Investors were understandably dismayed at the Savaging their Portfolios took in the Equities Market Crash lasting from the late Summer, 2008 and through March, 2009. Unfortunately, given present and prospective Economic and Market Realities, Investors are likely looking at another Massive Loss in Paper Portfolio “Wealth” soon, unless they act to prevent it. Full Story
Recently, I was contacted by a reporter for the Financial Times of London. He was looking to write a story about the CFTC’s upcoming hearing on precious metals. I could tell in my conversations with him that he was skeptical about my claims of a downward manipulation in the price of silver. As a result, the story he wrote reflected his skepticism, which was rooted in how could such a manipulation exist for as long as I alleged and how could silver be manipulated if it doubled in price over the past five years? Full Story
Suffice to say, when it comes to foreign reserves, gold, or the value of the Renminbi, policy rhetoric out of China is often intended to diffuse tensions with foreign policy makers and/or provide misdirection. Using the above comments as an example, is it coincidental that China is talking up its U.S. Treasury purchases a month before the U.S. Treasury could unleash the word ‘currency manipulator’ in a report? Full Story
Since 5 February 2010, the dollar gold price has shifted gears twice with the last shift starting on 3 March and ending on 11 March. We are now in that “sweet spot” gear, and gold is ready to accelerate. From here on, whatever gold is doing to the upside, silver is doing much better. Full Story
The fiat currency and fractional reserve banking system is merely a confidence game built on an illusion and fraud. Fiat currency is to be valued like the common stock of a government and in gold. As such the current system will end and holder’s of capital will demand to be shown the money. Just ask Harry Reid about karma. Full Story
Doug, last time we spoke, you said quite a bit about debt, in the context of your expectation that the euro is on its way out. At the end of that conversation, you mentioned, of course, that the problem is not limited to Greece, nor the eurozone. America as a country has become a world-class debtor, and many Americans seem to think a maxed-out credit card is a reason to get a higher credit limit, not to economize. It’s like a global epidemic. Let’s talk about debt. Full Story
The gold-plated, tungsten-filled bars story hasn’t gone away. Not only has it continued to pop up in various gold and hard-money, investment-advisory letters; but even the populous press publishers, like the American Free Press and Rense.com, have found it expedient to publish material on it as well. Full Story
By: Richard Daughty, The Mogambo Guru - 12 March, 2010
I was laid out on the couch, which I remember distinctly because my wife was yelling, “If you’re going lay down on the couch instead of doing something around the house to help me out, at least take your damned shoes off!” and I was using the remote to idly flip through the channels on TV, hoping to catch something in the vein of happy mindlessness, maybe something in the Gilligan’s Island-Bewitched genre, so that I did not have to keep track of a complicated plot and/or a bewildering cast of multi-faceted characters. Full Story
The brazenly bogus unemployment data disseminated to the news media each month by the U.S. Bureau of Labor Statistics appears to have tripped up Colorado. Although the state had reported a loss of 89.375 non-farm jobs in 2009, the actual number appears to have been much larger -- 106,300, according to the latest revision. Full Story
By: Gary Dorsch, Editor, Global Money Trends - 11 March, 2010
March 9th, marked the one-year anniversary of the elusive bottom of the most brutal bear market since the 1930’s. At the time, job losses were running in excess of 700,000 /month, and fear was rife that the US-banking system was on the verge of being nationalized. American factories and miners were using 68% of industrial capacity, the lowest level since records began in 1948. Corporate profits fell sharply for the seventh consecutive quarter, the longest losing streak since the 1930’s. The second coming of the “Great Depression” looked imminent. Full Story
Rick Rule probably could draw an audience if he were talking about the weather, but combine his presence with knowledge, understanding, experience and a track record of success, particularly in the resource arena, and the crowd falls silent. Founder and chairman of Global Resource Investments, Rick recently made himself available for a brain-drain, the foundation of the piece that follows. . . Full Story
I see current price resistance at the 1119.0 level. At this time until 1128.3 is taken out, I recommend having a short term bearish bias. That bias will change to a longer term one if prices trade under 1061.6. Full Story
The US government economists and politicians aren't totally naïve; they know what they'll have to do to pull off a profit for the taxpayer, and they'll be willing to do it at any cost. Each recession the solution is the same: inflate yourself out of the problem. However, this time the problem is much bigger, and the solution is just as big. Protect yourself, your assets, and what you've worked so hard for. With inflation being assured, you'll want precious metals. Full Story
Even despite the tremendous recovery in precious metals shares, I still find value across the entire spectrum. The various indices (HUI, XAU & XGD.to) as well as my proprietary junior index (shown below) all rallied back to or near the 2008 high. Since that point, Gold is about 10% higher. It is more than 10% higher when priced in foreign currencies. Meanwhile, Oil, (which is 25% the cost of mining) is down about 30% (from March 2008). I bet most other cost inputs have declined in price. Full Story
Talk of a Gold bubble over the past 6-9 months grows louder and louder. It is comical and a sign of desperation among those losing their grip on the levers of power and influence. I have never seen a bubble so heavily recognized and announced by the very institutional participants who are pouring all their money into it! Will Gold become a bubble? I think it may, which is why I own it. The break out over $1000/ounce last fall has certainly cleared the deck and made it a possibility. Full Story
It’s a battle between the bull and the bear – fear and greed – inflation and deflation – in the stock market. Of course when it comes to this sentiment the same can be said about all markets, which is what makes them markets in the end, however stocks are close to people’s hearts because of widespread participation these days. Full Story
The two sides on the debate over spending - the Tea Partiers and the college kids - should probably get used to the idea that neither will get what they want. The first group faces a generation of incumbents who only seem to care about the next election and the second group doesn't yet realize that, in the world today, they are asking for the impossible. Full Story
By: Richard Daughty, The Mogambo Guru - 11 March, 2010
The pills that I thought were tranquilizers turned out to be vitamins, and although I am on the verge of some kind of mental breakdown because of the mix-up, I feel great! Full Story
Readers got pretty stirred up the other day after we published a think-piece by Sinophile Mario Cavolo asserting that the world would muddle through its financial crisis without experiencing a catastrophic collapse. Although we disagree and expect a one-two punch of deflation/hyperinflation to put the global economy and financial system into a deep coma for at least a few years, we’d have to concede that a more boring outcome is at least possible. Full Story
To be sure, almost without debate, all the financial world has turned to crisis mode. One can safely describe the norm to be crisis proliferation. This theme will clearly continue for the full year in progress. The signs are everywhere. The evidence is compelling. The criticism of remedy is replete with denials. The USGovt officials grow more desperate with each passing week. Full Story
Pure speculation, of course, but competing for gold purchases isn’t a far-fetched idea. This sale is not pre-arranged; it’s an open market sale. Also, there’s only so much to go around. These two countries have only a tiny amount of their reserves in gold. Throw in the fact that central banks worldwide are already net buyers. Full Story
By: The Gold Report and Louis Paquette - 10 March, 2010
The Gold Report has again interviewed newsletter writer and commentator Lou Paquette, who launched the Emerging Growth Stocks website in 1995 to provide investors and speculators with a unique alternative to what he saw was a growing problem with corporate governance and conflict of interest on Wall Street. He is not counting out the U.S. dollar quite yet as the euro waivers. He also believes that there is no longer necessarily a seasonality regarding gold and gold stocks. Full Story
To know the hard-rock mining business is to love it. But you've got to learn it to know it. This business is so full of charlatans, characters, fortunes made and lost, splendid, big-hearted souls, death, murder and mayhem, and governmental and pressure group interests as to confuse an Einstein intelligence. Full Story
By: Bob Chapman, The International Forecaster - 10 March, 2010
Every important factor we see is working against the dollar and we believe that trend is irreversible. That means the present dollar rally probably cannot endure and it could well be the time to short the USDX. Full Story
I received an interesting e-mail the other day that sheds some light on the current state of investor psychology. He writes, “I hear from a hedge fund and analyst friend that most major cycle work tops out from this coming week thru April and [he says] it’s THE top... Full Story
As this short term gold cycle is right translated (topped later than 12 or more days) the expectation is for this move to hold above the last cycle low at $1044. It would be a big plus if gold can hold above the last short term dip at $1087 and keep the pattern of higher short term highs and higher short term lows intact. Full Story
In one of our previous essays we mentioned that the situation in the USD Index appears bearish, but it has not been the main driver of the PM prices lately. It's been the general stock market that used to drive gold and silver prices lately, which means that the situation is now less than perfectly bullish, especially in the short term. Full Story
I am writing this letter in the hopes that the scheduled hearing on COMEX metal concentration limits is the REAL DEAL and not some “horse and pony show” designed to pacify angry gold and silver investors without making real changes. The COMEX gold and silver markets have been manipulated for far too long so any attempt to place a Bandaid on the problem and kick it down the road will be received with scorn and ridicule by those of us who know the truth. Full Story
The inscrutable Chinese are hardly likely to inform the world that they are on a gold buying spree for fear of sending the gold price through the roof before they can finished their acquisition plans. Full Story
Ben Bernanke, Chairman of the US Federal Reserve, faces a Sisyphean task because US banks are experiencing debt deflation and, because lending is now at much lower levels, monetary deflation is encumbering the domestic US economy as existing debts continue to be serviced. Government deficit spending can only offset lower consumer spending to a degree, and the mushrooming debt of the US government raises the question of whether the US can repay or roll over its debt obligations, given that tax receipts are likely to fall. Full Story
By: John Browne, Senior Market Strategist, Euro Pacific Capital - 10 March, 2010
Productive, private-sector jobs - the lifeblood of a sound economy - are under assault by politicians in the United States and Western Europe, who have unwittingly taken a number of steps that make future job losses a foregone conclusion. Full Story
By: Richard Daughty, The Mogambo Guru - 10 March, 2010
People think that Addison Wiggin is just another talented, intelligent, pretty face who secretly thrills to hear people say things like, “You’re a lot better looking than The Mogambo! And younger and smarter, too!” but he is much, much more than that. Full Story
So, are we now supposed to believe that every Toyota that runs off the road, or plows into another car, or leaps a concrete berm in a Safeway parking lot, is a runaway? The latest report of a Toyota wilding spree – supposedly caused by a faulty Prius gas pedal -- surfaced the other day in California. Full Story
By: David Galland, Managing Editor, The Casey Report - 9 March, 2010
As investors, it is, I would contend, important to understand the notion of entropy – and to watch for it in your portfolio companies, in your bureaucracies, and, on a more personal level, your relationships and your health. On that last point, the human body is very much a closed system and so, as we all are too painfully aware, will degrade until it ceases to exist. Full Story
Lost in the headlines over the dollar's resurgence in 2010 is the fact gold is still rising in most worldwide currencies. It is also still faring well in dollar terms. Gold is trading at around $1,120 per ounce, up about $60 in the last month. Frank Holmes, CEO and CIO of U.S. Global Investors, a long time gold bull sees no reason for this trend to end. Full Story
By: Chris Powell and Bill Murphy, GATA - 9 March, 2010
GATA today delivered to the chairman of the U.S. Commodity Futures Trading Commission, Gary Gensler, a letter from GATA Chairman Bill Murphy, appealing to the CFTC to act against the concentrated and manipulative short positions in the precious metals markets. The commission is expected to hold a hearing this month on establishing position limits in those markets. Murphy's letter is appended. Full Story
The real and only definition of inflation is an increase the supply of money. It is not defined as in an increase in price as so many economists love to falsely proclaim. The money supply has gone ballistic, our national debt has doubled in the last 10 years, and we continue to create money and a mind boggling rate. Full Story
The Federal Reserve is set to raise its key overnight interbank rate by a surprise 0.25 per cent next Tuesday when the Federal Open Market Committee meets, a senior banker from a top global bank specialized in currency trading told ArabianMoney last night. Full Story
Well, the train is pulling out of the station. Gold has said goodbye to the $1,000 level and is off for northern climes. It is not your last chance to get on board, but it is your last chance to get on board at these low, low prices. Full Story
I can virtually guarantee that what I’m about to suggest isn’t on anybody’s radar screen. But before I share my prediction, a little background analysis is in order. Full Story
Four images provide the conceptual tools to refute Keynesian economics: the gun, the wallet, the IOU, and the printing press. Recall them every time you read a Keynesian promotion of the latest government-spending plan. Let me explain. Full Story
The world is about to change forever. The International Energy Agency predicts China will surpass the United States as the world’s largest energy consumer shortly after 2010. Full Story
By: Richard Daughty, The Mogambo Guru - 9 March, 2010
I was recently reminded of the old argument about Say’s Law, and that reminded me that it was Keynes who twisted Say’s theories around to create the ridiculous argument that supply created its own demand, which I say is a load of crap, which pretty much sums up a lot of what Keynes did... Full Story
By: Rick Ackerman and Doug Behnfield - 9 March, 2010
When we last featured the thoughts of Doug Behnfield, senior vice-president at UBS in Boulder, he had sketched out some back-of-the-napkin numbers that showed why most Baby Boomers were unlikely to realize their retirement dream. In the think-piece below, Doug argues that Treasury Bonds are now the place to be as deflation takes hold. 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: G. Edward Griffin, Freedom Force International Harry S. Dent Jr., H. S. Foundation Full Story
By: Bob Chapman, The International Forecaster - 7 March, 2010
Sovereign debt hangs like an albatross around the necks of too many countries. There are 17 medium-size to large countries that are close to, or are bankrupt. Many are being kept solvent by using two sets of books and by marking to model. As you know we expect these bankruptcies to take place by the end of 2011. Full Story
By: John Mauldin, Millennium Wave Advisors - 7 March, 2010
We are in an era of accelerating change, moving toward a future that will be profoundly different from the past we grew up in. But what will the nature of that change be? What will the future look like? Full Story
Before I explain the title of this report, I want to prove to you that Americans are losing their liberties, day by relentless day. I also want to prove to you why it is that, unless there is an economic breakdown so severe that Washington D.C. goes broke, we will not get back these surrendered liberties. My demonstration will take approximately three minutes. For skeptics, it may take five minutes. Full Story
Forget the current estimates, the deficits are going to be much, much worse. Just a few days after Senator Jim Bunning was labeled a “lunatic” for trying to enforce the recently enact Pay-As-You-Go laws, the Congressional Budget Office (CBO) released its analysis of the Obama Administration’s federal budget proposal. Full Story
Dedicated to Murray N. Rothbard, steeped in American history and Austrian economics, and featuring Ron Paul, Joseph Salerno, Hans Hoppe, and Lew Rockwell, this extraordinary film is the clearest, most compelling explanation ever offered of the Fed, and why curbing it must be our first priority. Full Story
The UK’s big newspaper, which has generally been gold friendly this past decade, says new research shows gold to have been the decade’s best performing asset. Didn’t take too much research to figure that one out. That fact has been bandied about for a while now by most gold analysts. It’s still nice to see gold’s value, and performance being recognized. Hopefully it will attract more investors to the sector. Full Story
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