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Weekly Archive

By: Peter D. Schiff, Euro Pacific Capital, Inc. - 14 December, 2007

This week’s announcement by the Fed that it will create a new mechanism to provide funding for credit challenged banks has been lauded by Wall Street as an innovative approach to solving the credit crisis. In truth, it is really just the same response the Fed has had for all problems great and small: crank up the printing presses, shower money on the problem, and hope that financial pain can be obscured by the balm of inflation. Full Story

By: Julian Phillips, Gold Forecaster - 14 December, 2007

If the government’s efforts to support the banking and credit systems are not successful [really convincing] the pressures on the banks and credit systems will grow worse and this time will expose the real losses being made, across the globe, exacerbating the whole banking situation in the global money system. The attraction of gold will then be irresistible! Full Story

By: Steven Saville, Speculative Investor - 14 December, 2007

Over the past few years China's government has come under considerable international pressure -- primarily from the US -- to upwardly re-value its currency. China has acquiesced to this pressure to a certain extent and has allowed its currency (the Yuan) to rise from a rate of around 8.2 per US$ to the current level of around 7.4 per US$, equivalent to a gain of approximately 10%. A 10% change in the Yuan-per-US$ rate is significant, but with reference to the following chart notice that the Yuan's recent gains pale in comparison to the losses it incurred during the first half of the 1990s. Full Story

By: Doug Casey & Ron Paul - 14 December, 2007

Ron is famous for his principled rejection of fiat currency, and advocacy of hard money – the gold standard. That’s a matter of particular interest to us, with obvious investment implications. We thought, therefore, we’d get an update from Ron, to see if his thinking has changed any. Full Story

By: Ira Epstein - 13 December, 2007

The Fed had a wonderful chance to psychologically speaking “get ahead of the curve”, which is but another way of saying getting in front of the credit worry issues. They simply blew it in terms of media relations, which is key to their moves as how they do what they do drives “perception”. Perception is the key. Full Story

By: Bill Bonner & The Daily Reckoning Crew - 13 December, 2007

-A little advice from a whirl-wind traveler…central bankers enter the Valley of Death…
-The markets fire back…not another wimpy recession…India could cause trouble for China…
-Careful not to upset the voting humpties…pleading with the hitmen to kill the boom…and more! Full Story

By: Bob Chapman, The International Forecaster - 13 December, 2007

The market manipulations of the “Working Group on Financial Markets” and the privately held Fed may see the yen carry trade as a lessening factor in 2008. Tightening credit markets and rising assets volatility from the US subprime mortgage crisis may end the trade. Full Story

By: Clive Maund - 13 December, 2007

Like a petulant child raging around because it got one candy when it expected two, the market threw a tantrum yesterday when it only got a quarter of a percent rate cut yesterday when it was hoping for more - but what good would it have done if rates had been cut by half a percent, or even a full one percent? Full Story

By: Richard Daughty, The MOGAMBO GURU - 13 December, 2007

But that 'the Earth will be destroyed' is still a good bet, as the staggering incompetence of the Federal Reserve created the crushing debt that is owed by every economic entity in the whole country, dozens of times over. Full Story

By: Rick Ackerman, Rick's Picks - 13 December, 2007

Another wild day on Wall Street. Was this the way things felt in the months leading up to the Great Crash? Those were interesting times too – so much so that those who lived them must have sensed it self-consciously, just as we do of our own era. Full Story

By: Bill Bonner & The Daily Reckoning Crew - 12 December, 2007

-Fed cut rates - but apparently, not enough for some…U.S. Treasuries have their best day in years…
-Old capitalism - red in tooth and claw - is making its way back…Chuck doesn't want to say 'I told you so'…
-Australia is more like the United States than we thought…long-term and short-term prospects in India…and more! Full Story

By: Axel Merk - 12 December, 2007

Traders eager to jump on the “next” trade may be in for a disappointment. It is the same disappointment the Federal Reserve (“Fed”) has to deal with: the issues weighing on the U.S. dollar and the U.S. economy don’t seem to want to go away. The markets tend to “look ahead” – but rather than facing a recovery, the U.S. economy may be sliding further into recession. Full Story

By: Jim Willie CB - 12 December, 2007

An avalanche comes in 2008. Its wreckage will hit both the USEconomy and banking world. The greatest deception in the bank sector this year has been the misrepresentation of the mortgage debacle as a subprime problem. That is akin to calling an iceberg only a problem for what one can see, when 90% of its mass lies below water. Ice is lighter than water. Most mortgage bonds are like acidic stones weighing down bank and investor balance sheets. Full Story

By: Brady Willett - 12 December, 2007

In today’s Wall Street Journal former Fed boss, Alan Greenspan, attempted yet again to explain why he wasn’t to blame for all the ‘bubbles’ that coincidentally transpired during his tenure. In the piece Greenspan adds color to the same storylines he has harped on before, those being 1) that he took the Federal Funds rate down to 1% because he was scared of deflation, and 2) crazy investors, not him, are to blame for the euphoric booms in stocks and real estate while he was Fed boss. Full Story

By: Llewellyn H. Rockwell, Jr. - 12 December, 2007

Joy, joy, the Fed has cut rates again. Picture the Joker from the movie Batman throwing money from his float on the parade and you can see where this is going. Or imagine the alchemist of medieval lore, attempting to conjure up wealth from chemical mixtures. Full Story

By: David N. Vaughn, Gold Letter, Inc. - 12 December, 2007

Are you ready to go to war in Iran? That has been a popular topic for quite some time. It has been believed that Iran is building the capacity to produce nuclear weapons. Can’t have that. They’ll have to be knocked out with conventional weapons and bunker busters. This subject of possible war has brought on some great speculation both pro and con. Full Story

By: Richard Daughty, The MOGAMBO GURU - 12 December, 2007

We have finally overruled the Jeffersonian Republic that made America into the world power that it became, in favor of that Hamiltonian nightmare of a huge, powerful, dictatorial, fascist federal government… Full Story

By: Rick Ackerman, Rick's Picks - 12 December, 2007

Whooooosh! A little disappointment brought stocks down in a huge hurry yesterday. Permabears shouldn’t get their hopes too high, though, since the nearly 300-point fall in the Dow didn’t violate even a single important support on the daily chart. In fact, we’d be surprised if the mass mental illness that drove shares to near-record highs in the first place did not reassert itself with a vengeance as early as next week. Full Story

By: Bill Bonner & The Daily Reckoning Crew - 11 December, 2007

-Your world-traveling editor tries to figure out what day it is…credit is being crunched all over the world - even Down Under…
-To Err is Human…the flood of liquidity will wash away your sins…
-Teaser from the 5…another kind of derivative…and more! Full Story

By: Gary Dorsch, Editor Global Money Trends - 11 December, 2007

Nearly two years ago, on January 10th, 2006, Iranian leader Mahmoud Ahmadinejad raised the stakes in a battle of wits between Tehran and the Bush administration, ordering the removal of UN seals on centrifuges to enrich uranium, a process which can make atomic reactor fuel or weapons-grade material. “We are not going to yield to pressure to abandon our rights, and we have the necessary tools to protect ourselves,” Ahmadinejad told the Qatari foreign minister. Full Story

By: Paul Tustain - 11 December, 2007

UNLESS YOU ARE well informed, you are going to pay for getting investment bankers and fund managers out of the very deep hole they have recently dumped us all in. To help you avoid tumbling into this investment landfill, here is a plain English explanation of a nasty but clever scheme for making you pay for their mistakes. Full Story

By: Theodore Butler - 11 December, 2007

Commissioner Chilton, this is truly a grave situation. This is not about the sharply higher silver prices to come, as nothing can prevent that. This is about doing the right thing for our country. The time to take action is now, as an ounce of prevention is worth more than a ton of emergency cures later. Full Story

By: Sol Palha, Tactical Investor - 11 December, 2007

The dollar is still the worlds reserve currency and no mater what the world wants to do they cannot simply dump their dollar holdings and move into other currencies. First of all if they were to do this it would provide a “screaming buy opportunity” to make a fortune but this is not going to happen so we wont waste time looking at it. Secondly one has to remember that every single currency out there is just as rotten if not even more rotten than the dollar. Full Story

By: Nadeem Walayat - 11 December, 2007

The US Fed's reaction to date to the housing bust and US subprime mortgage credit crisis is by making deep cuts in US interest rates that today will see at least a further 0.25% cut bringing the rate down to 4.25%, off 1% from 5.25% high from just 3 months ago. Full Story

By: Richard Daughty, The MOGAMBO GURU - 11 December, 2007

So, after the last of the money is finally spent on taxes, that $6.6 billion reduction in tax revenue actually means somewhere between five and eight times as much will be 'lost income' and lost taxes! Full Story

By: Rick Ackerman, Rick's Picks - 11 December, 2007

Ahh, another Fed Day has arrived -- and just in time to stimulate a more joyous holiday shopping experience for us all! Who can even guess what kind of zany, utterly mindless reaction will greet the “news” today that virtually every tape-watcher in America has known for weeks was coming? Full Story

By: Bill Bonner & The Daily Reckoning Crew - 10 December, 2007

-A new high for the Sensex Index…the Indian investment story…
-Saving banks from their own bad judgment…being a part of the problem - and then profiting from it…
-A new tricky Dick in town…learning the 'Santa Monica technique'…and more! Full Story

By: Captain Hook - 10 December, 2007

Make no mistake about it, the credit crunch is still spreading and contagious, and will remain that way until all debt that needs to be purged from the system has been expunged. Unfortunately for all concerned, with conditions in key factors displaying signs of Super-Cycle Degree tops, such as in demographic trends for example, this process could take longer than the current batch of bankers would prefer, and in fact likely scuttle the present day credit-based monetary system as a result. Full Story

By: Merv Burak - 10 December, 2007

The long term usually changes very slowly so there is no use posting a long term chart each week. From the long term stand point nothing has changed from last week, or the week before. To summarize, the long term P&F chart is still bullish. Gold price is still well above its positive sloping moving average line. The long term momentum indicator is also still in its positive zone but giving us some warnings of the under performance of the strength in recent price action. All in all, the long term is still rated as BULLISH. Full Story

By: Douglas V. Gnazzo - 10 December, 2007

Last week’s report stated that gold was at an important juncture, sitting on top of its bottom trend line, and that a break below it on a closing basis, especially on a weekly closing basis, would turn support into resistance. So far support has held (+1.24%). Full Story

By: - 9 December, 2007

1st Hour:
Headline news & market forecast.
Spotlight Picks with big dividends.
The International Forecaster and Chris Waltzek answer listener questions.
2nd Hour:
-Joel Skousen Full Story

By: Bob Chapman, The International Forecaster - 9 December, 2007

For those of you who continue to entertain doubts that stock markets suffer on account of a tiny little market where "barbaric relics" are traded, we have put together five scenarios that will show you in spades how stock market crashes and carry trade unwindings have directly corresponded in time to all gold rallies for the entire year of 2007 thus far. Full Story

By: John Mauldin, Millenium Wave Advisors - 9 December, 2007

How does the risk of default in California or Thailand get spread throughout the world, causing problem in money market funds in Europe and Florida? Yes, we can trace the linkages now, but was it possible to predict the crisis beforehand? And can we use what we learn to predict and hopefully hedge ourselves from the next crisis? Full Story

By: Richard Daughty, The MOGAMBO GURU - 9 December, 2007

Hahaha! The Cold, Cruel Laughter Of The Mogambo (CCLOTM) is mocking and scornful at the stupidity of people still buying into that stupid 'buy and hold', 'investing for the long term' crap! Hahaha! Full Story

By: Rick Ackerman, Rick's Picks - 9 December, 2007

Years ago, a reporter friend of ours was gathering information for a book he planned to write about Donald Trump. It was during the 1990-91 recession, and even though Trump was still riding high, we told our friend to save the final chapter for a sensational bankruptcy. Full Story

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