By almost any measure, gold stocks are undervalued. Should we load up? After completing my research on this question, I’m convinced more than ever that we at Casey Research are in the right place. See if you agree… Let’s first get a handle on the degree of undervaluation. The more undervalued, the lower the buying risk. A fairly valued stock, on the other hand, requires added caution. Full Story
By: The Gold Report, Marin Katusa, Louis James & Rick Rule - 14 October, 2011
When the currency system as we know it dies, some people will become very wealthy. In this special report from the Casey Research/Sprott Inc. Summit "When Money Dies," The Gold Report cornered Global Resource Investments Founder and Chairman Rick Rule, Casey Research Senior Editor Louis James and Casey Energy Opportunities Senior Editor Marin Katusa for a roundtable discussion on the best strategies for thriving during the coming economic transition. Full Story
Are you watching your savings evaporate as the Federal Reserve keeps printing & devaluing our currency? Wonder how you can get out of paper money, T-Bills, and stocks before Hyperinflation confiscates your wealth? Come meet with other successful investors in a venue that is richly steeped in tradition and elegance, the Four Seasons in downtown Denver. Full Story
By: The Gold Report and Bud Conrad - 14 October, 2011
Casey Research Chief Economist Bud Conrad believes the United States is acting as a late-stage empire, acting aggressively on the world stage, lowering its moral standards and debasing its currency. In this exclusive interview with The Gold Report at the Casey Research/Sprott Inc. "When Money Dies" Summit, he explains the options for how the inevitable collapse will occur. Full Story
WHATEVER you think of the gold price right now, gold mining stocks are a raging buy. Everyone says so. There's rarely been this strong a consensus since England were all set to beat France in last weekend's Rugby World Cup. Full Story
By: The Gold Report and Edward Karr - 14 October, 2011
According to Edward Karr, CEO of RAMPartners, the band is tuning up and the guests are just starting to arrive. Instead of selling before the party really gets going, he advises keeping a "decent percentage" of cash to take advantage of opportunities to buy both physical gold and junior mining stocks. His real bottom-line advice in this exclusive Gold Report interview? Tap into what makes you happy in life. Full Story
By: John Browne, Senior Market Strategist at Euro Pacific Capital - 14 October, 2011
By the first week of October, after having dropped more than 18 percent from its highs achieved in May 2011, U.S. stocks were desperate to latch on to any good news. In this context, the apparent agreement between the major European players to kick their debt can down the road was viewed as an "all clear" for shell shocked investors. Full Story
Make no mistake about it, however much the Eurozone is able to temporarily paper over its crises (and however much the USA is able to deflect attention away from its arguably worse crises), the Crises remain and worsen, as Jack Crooks points out. But Great Crises provide Great Opportunities (as we outline here) especially with Insiders aggressively buying going into seasonally strong Q4. Full Story
No good news to deliver so far this year on the eurozone. Just this week Slovakia’s government became the first in the eurozone to fall over opposition of bailing out indebted economies after the country’s parliament voted down approval for enhancing the zone’s rescue fund. Also this week, Jean Claude Trichet, European Central Bank President, warned that Europe’s financial crisis has reached “a systemic dimension.” Full Story
By: Adam Hamilton, Zeal Intelligence - 14 October, 2011
The recent recession-fear craze hammered commodities prices, crushing the stocks of the companies that produce them. Commodities stocks were wholesale abandoned by frightened traders, left bludgeoned and bleeding. But driven to deeply-oversold levels, they got incredibly cheap relative to their underlying fundamentals and bull-market precedent. Oil stocks are a shining example of this great opportunity. Full Story
Global markets are in the midst of a predictable relief rally to the technical bear market that recently became actualized off of various topping patterns that were in force for most of 2011. It is important to note that this is coming off of a similarly predictable whiff of a deflation scare, as US and European debt 'imbalances' (a polite way to put it) spooked the public out of asset markets and into US Treasury bonds, among other 'safe' havens. Full Story
In my article The Politics of Personal Destruction I presented the case that the Federal Reserve was responsible for the Great Depression because of its extremely tight monetary policy. In 1963 Friedman, and coauthor Anna J. Schwartz, published A Monetary History of the United States, 1867–1960. In it, the authors claimed that the Great Depression would have been a typical downturn had it not been for policy errors made by the Federal Reserve. US Federal Reserve head Ben Bernanke also believes if the Fed had provided enough money to banks and bought US securities the Great Depression would not of happened. Full Story
I’m sure many of our readers remember the 5¢ and 10¢ stores of the past. What a treat as a kid to browse through the merchandise looking for the chance to purchase some of our favorite items literally for pennies. Well, guess what? The 5¢ and 10¢ store is back and this time it is packed with many incredible values for us big boys and girls. Full Story
SO WHY is it that gold mining stocks underperforming the metal so badly? "Gold stocks should be a levered bet on the price of gold...There has been a terrible underperfomance," as one UK forum posting said back in June. Full Story
Something which has created a stir in the alternative media [the derelict mainstream have long ceased reporting the news] in the past couple of days is a report concerning new steps being required of investment advisors in Canada relating to their KYC [Know Your Client] procedures. This was first brought to my attention by Jeff Berwick [The Dollar Vigilante] and I’d advise everyone to read his piece on this here. These new steps involve / require investment advisors to complete a questionnaire – prepared by a national regulatory body called FINTRAC – to help investment advisors “identify” suspected terrorists. Full Story
Jewelry shops in Dubai are stocking up again on gold and silver bars and coins after a 30-40 per cent year on surge in sales, with the traditional dowry of gold jewelry now making way for newly minted 1-kilo silver bars and the ten-tola gold bar, an old fashioned Indian measure equal to 3.75 ounces. Full Story
An important reversal of focus, expectation, and direction has taken place in Europe. Put aside the sovereign debt mess that will not go away. It will not be fixed, despite all the effort and talk and deal making. They must prepare for a string of bank failures and a Greek default. Every solution executed or proposed or pending involves the same lunatic device of creating more debt or more money to solve a problem caused by too much credit creation and unchecked monetary creation. For 18 months the Euro had traded on the back of the European Central Bank monetary policy, on interest rate judgments and expectations. To be sure, the PIIGS sovereign debt situation has dominated the news. However, that disaster has played out in the member nation bond yields, like Greek yields shooting toward 100%, like the bigger southern periphery nations jumping over the critical 5% level. Full Story
By: James Quinn, Casey Research - 12 October, 2011
While China was growing their economy by a phenomenal 2,800%, the US GDP grew from $2.3 trillion to $15 trillion – a mere 650% increase, of which 420% was due to inflation. There is no question that China’s progress has been remarkable. The question is whether that growth is sustainable and built upon a solid foundation. Full Story
By: The Gold Report and Ross Beaty - 12 October, 2011
Legendary mining entrepreneur Ross Beaty is an optimist. He likes the opportunities present in both bear and bull markets. In this exclusive interview with The Gold Report at the Casey Research Summit in Phoenix, he explains his love of metals and alternative energy and what he is doing to position himself regardless of where the markets go. Full Story
Gold remains our best means of economic measurement. It is not a perfect or 100% consistent measure of wealth, but it is our best. Due to its monetary properties, gold can be used to measure wealth across generations. Just like we have the sun and moon to discern the times and seasons, I believe, we have gold to discern changes in wealth. It is interesting that the sun is often compared to gold, and the moon to silver. Just like a day in the Middle Ages is comparable to a day in this century, an ounce of gold in the Middle Ages is comparable to one today. Full Story
The news over the last few weeks, including worries about a possible major banking crisis could cripple the Eurozone economy as a whole, has sent global financial markets down heavily. Many around the world are worried that Europe is about to face a big bankruptcy or sudden default that could set off a new phase of panic in Europe and beyond. It’s been nearly two years since the euro crisis began with concerns about the solvency of Greece. Since then it has been a slow-motion drain of confidence and credibility as Europe’s leaders have been putting out fires one at a time. Full Story
By: Gary Dorsch, Editor, Global Money Trends - 12 October, 2011
“You unlock this door with the key of imagination. Beyond it is another dimension, a dimension of sound, a dimension of sight, a dimension of mind. You’re moving into a land of both shadow and substance, of things and ideas. It’s a journey into a wondrous land, whose boundaries are that of imagination. That’s a signpost up ahead, your next stop, the “Twilight Zone!” Full Story
A crash dummy has some of the physical characteristics of a human being. It is used to test the safety of the interior of a car that has suffered a major accident. A pair of dummies are strapped into the front seat of a car that is on a track. Then the car is run into a wall at high speed. The engineers then examine what happened to the dummies. If the dummies had been human beings, would they have been killed? Dismembered? But what if the dummies were in charge? What if they strapped the engineers into the car and ran the test? This is what is happening in Europe today. Full Story
In five out of the six periods during market turmoil, an allocation to gold preserved wealth by reducing the hit taken by the portfolio. On average, the portfolios with an allocation to gold were about 7 percent more buoyant. Only during the Dot-com Bubble did gold in a portfolio hurt its performance. Full Story
I do not toss around the idea of a market crash lightly. If you've been following me long enough, you know that only in very rare instances do I issue a cautionary Alert (I've only issued four since my website launched in 2008), and I am generally not given to hyperbole. Let's be clear: I'm not issuing an Alert at this time. But I am concerned that a materially adverse disruption to the financial markets is increasingly likely in the near future. Full Story
By: Bob Chapman, The International Forecaster - 12 October, 2011
The investment world hasn’t been too excited about “operation twist.” After its announcement the S&P fell more than 14% and worldwide stocks fell some 23%. Commodities were smashed, and silver fell 28% and gold 12%. During this process short dated yields on Treasuries fell close to zero and maintained, as long-term yields fell. That means granny and grandpa will have less to live on and pensions won’t attain 7.5% return to reach their retirement goals. The result is a Dow yielding 2.8% and S&P 2.2%, while the 10-year T-note yields 1.9%. It is not surprising that fund and money managers are reaching for high yield quality stocks. This they believe will provide yield and safety, while waiting for the next Fed innovation. A situation such as this has not existed for 53 years since I left counter-intelligence. Full Story
To ensure the European sovereign debt crisis doesn’t go to waste, the markets have kept policy makers and bankers on their toes. The naysayers of a European turnaround have become so overwhelming that it is stunning Europe hasn’t submerged into the Atlantic Ocean yet. It appears that German Chancellor Angela Merkel, the cautious woman with the checkbook, is about to turn the tide. Full Story
By: The Energy Report and Philip Williams - 11 October, 2011
The uranium market is still shell-shocked from the tsunami in Japan and the resulting anti-nuclear backlash. But Philip Williams, vice president of business development for investment firm Pinetree Capital in Toronto, is urging investors to dust themselves off and start shopping. In this exclusive interview with The Energy Report, Williams discusses strong fundamentals that are still in play and upcoming catalysts could boost suffering uranium equities this year. Full Story
By: Chris Powell, Secretary/Treasurer, GATA - 11 October, 2011
Remarks by Chris Powell, Secretary/Treasurer Gold Anti-Trust Action Committee Inc. Pi Capital Dinner Scott's Restaurant, Mayfair, London Monday, October 10, 2011 Full Story
The recent correction in gold has once again led, to financial commentators warning of a bubble—just as they have incessantly since it first passed $400 an ounce. A bubble usually ends with day after day of speculative higher highs, not corrections like we have just seen or as we saw in August where a $200 fall was followed by the resumption of its decade long rise. That gold continues to climb a wall of worry, and that so many are even calling it a bubble, is actually an extremely bullish indicator since financial bubbles burst only after sustained periods of exuberance. We are far from the days when people lined up for blocks each day to buy gold, as they did in Toronto in 1980. Full Story
Gold likely has a 2/3 chance of rising to $2300, and a 1/3 chance of falling to $1100. Click here now to view my gold chart that roughly highlights the current short term range. The pattern is technically an ascending triangle, but there is a tendency to place excess confidence in modest technical price patterns like this one, and that confidence is usually followed by great disappointment. Full Story
It is now clear the US economy has broken down in a BIG way. Indeed, no less than Ben “green shoots” Bernanke has stated that the recovery is “close to faltering.” This, coming from a cherrleader like Bernanke is essentially an admission from the powers that be that the US economy is a disaster. Full Story
By: Steve Saville, The Speculative Investor - 11 October, 2011
The US economy is definitely in recession and the recession will probably extend into next year. This isn't necessarily a reason to be concerned about downside risk in the broad stock market, because the stock market attempts to discount the future and might already have priced-in the sort of earnings decline that a recession would bring about. The reason to be concerned about downside risk in the stock market is that the recession is not widely recognized and most analysts are still projecting growth in earnings over the next 12 months. Full Story
With Cambridge House International's Silver Summit 2011 just 10 days away, excitement awaits this 9th annual event at the Davenport Hotel in Spokane, Wash. “Extracurricular” activities including reserved underground tours of working silver mines and the Sunshine silver refinery are slated for Wednesday, Oct. 19th. While the tours are sold out, some cancellations inevitably occur; to join the waiting list, please contact the Silver Summit office at 208.556.1621. Full Story
To summarize, both monthly and weekly momentum conditions in gold have begun to deteriorate against the backdrop of record price volatility with prices at new all-time highs. In the dynamic environment in which we are now operating almost any imaginable, and some not so imaginable, macroeconomic or geo-political event can occur that might propel gold prices further into new high ground above $1920. However, as we currently weigh intermediate- and long-term technical developments we conclude that traders and investors who are counting on quick and sustainable uptrend resumption are likely to be disappointed. Full Story
We’ve written about the importance of intermarket analysis. Movements in various sectors and asset classes influence each other. The Treasury market is the largest in the world and affects trends in other markets. Interestingly, Bonds at times move with Gold. In these cases it is due to a safety or flight to quality play and as a result mining equities tend to underperform. Earlier this year, the safety plays were the Swiss Franc, Gold and Bonds. The first two were first to reverse and now Bonds are putting in an important top. The beneficiary of this market shift will be mining equities and equities in general. Full Story
By: The Gold Report and Ian Gordon - 10 October, 2011
After leaving the securities brokerage industry in 2009, Ian Gordon founded Longwave Analytics and Longwave Strategies to focus on protecting investors from what he believes is a global macroeconomic meltdown that is already underway. Gordon proposes that physical gold and certain gold stocks will be investors' best hedge and overall solution to the worst financial crisis the world has seen. In this exclusive interview with The Gold Report, Gordon shares his thoughts on the current economic mess and how investors can take action now. Full Story
A stairway to heaven – or at least financial independence – that’s what investing in precious metals has and can be for those participating, bringing good feelings just as listening to the old standard by Led Zeppelin provides. When one buys gold and silver you are not buying some abstract concept designed to help escape reality however. No, instead one is buying just the opposite. You are buying the reality necessary to protect yourself from fraud and malfeasance that grips mature socio-economic climates such as the one we have today, with all sorts of imaginary money in the form(s) of fiat currency(s), indentures, and share structures. Full Story
The world is about to peak in global silver production. This will not occur due to a lack of silver to mine, but rather as a result of the peaking of world energy resources, declining ore grades, and a falling Energy Returned On Invested – EROI. The information below will describe a future world that very few have forecasted and even less are prepared. Full Story
In recent months I have written to the Deutsche Bundesbank, the Federal Reserve Bank of New York, and the Board of Governors of the Federal Reserve System in Washington to ask questions about the gold reserves of Germany. Full Story
By: Bob Chapman, The International Forecaster - 10 October, 2011
The Bundestag committed $590 billion to the EFSF of which Germany will provide $283 billion or almost half to resurrect euro zone economies. What did come from all parties is that they will refuse to commit one more pfennig to bailing out the six wayward countries. They opposed any effort to leverage the allocated total, there would be no Eurobonds, and they voiced opposition as being implacably opposed to moving decisions on monetary and fiscal policy out of the hands of sovereign states. There should be no expansion of policy to the EFSF under any circumstances. The next question will be how long will the funds last? Probably six months to a year and then the problem starts all over again. Full Story
I think next week will mark a major turning point in the gold market. Depending on whether the dollar continues higher or turns back down we will either see a resumption of the D-Wave decline or this will just turn into a normal run-of-the-mill intermediate degree correction followed by another leg up in this 2 1/2 year C-wave advance. Full Story
By: Chris Waltzek, GoldSeek.com Radio - 9 October, 2011
- Headline news & the Market Weatherman Report. - Spotlight Stock Picks. - Host Chris Waltzek & Bob Chapman, The International Forecaster discussion and answer listener's questions. Full Story
By: Chris Powell, Gold Anti-Trust Action Committee Inc. - 9 October, 2011
The Dutch blog Vrijspreker today reports that the Netherlands secretary of the treasury has answered half-candidly the questions put to him by the Dutch Socialist Party about the disposition of the Dutch National Bank's gold reserves. According to Vrijspreker:
-- The Dutch National Bank has not loaned gold since 2008 but has sold 1,100 of its 1,700 tonnes of gold since 1991. Full Story
Why should you care about the four G's? Why should you imagine that things will not repeat? The financial system held up after 1980. Why won't it hold up today? Why won't things be business as usual?
One good reason is that it is clearly not government as usual. The size of the deficit, the gridlock in Congress, the desperation of the unemployed, the ineffectiveness of the Federal Reserve, the inability of the economists to offer a solution, the unwillingness of small businesses to borrow, and $1.7 trillion in excess reserves in the banks all point to a continuing crisis that is not going away. The government is helpless. The Keynesian solutions are not working. Full Story
It is true this upward movement in price for precious metals is seldom a straight line. Sometimes the market enthusiasm overreaches itself and prices dip back, like silver in April or gold last month. Would a global asset sell-off like the one in late 2008 pull gold and silver prices down for a while? Yes but not for long as central banks will fear deflation and print even more money. Full Story
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