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Weekly Archive
By: Bill Bonner & The Daily Reckoning Crew - 14 March, 2008
-Hedge funds should be called 'gamble funds'…sleepless in Manhattan…
-Making things worse… the cockamamie economics of modern central banking…
-Dangerous and costly dollar decline…Eliot Spitzer we hardly knew ye…and more! Full Story |
By: GoldSeek.com - 14 March, 2008
"I will ask you this," one of CNBC's hosts asks Mr. Rogers, "what would be the first two things you would do if you were in Mr. Bernanke's seat tomorrow morning?"
"I would abolish the Federal Reserve," avers Rogers, "and I would resign." Full Story |
By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 14 March, 2008
As with so many crises in history, the consequences of certain situations are not foreseen, or if they had been foreseen were downplayed to either inaction, or insufficient action. So it has been with the “sub-prime” crisis that is now a full blown liquidity crisis that is spreading like gangrene into other aspects of the credit market. You may still wonder why this crisis is causing such a threat to the entire financial system so as to cause the Fed to ‘throw money from helicopters’? The problem is essentially due to the functioning of collateral. Full Story |
By: Peter Schiff, Euro Pacific Capital, Inc. - 14 March, 2008
This week, as the financial sector began to give way under the unbearable weight of bad mortgage debt, the Federal Reserve stepped in to save the day. At least that’s what it says in the script. Full Story |
By: Adrian Ash, BullionVault - 14 March, 2008
The whole point being, of course, that bear markets in stocks – sparked by mal-investments in credit-fuelled bubbles – take a good deal longer to work out than anyone ever dares guess. Full Story |
By: Jason Hommel, Silver Stock Report - 14 March, 2008
Everyone else out there is writing about how gold topped $1000/oz. Bor-ring! Besides, you don't need me to tell you that. How about some real insight into the gold and silver market? Here it is, if you can understand it. Full Story |
By: Brady Willett - 14 March, 2008
As financial regulators leap to the aid of the markets and the rating agencies continue their shenanigans, Mr. Schwartz tells us of the one step a financial stable company would never be compelled to make. Incidentally, the most pressing question at hand isn’t what happens next, but whether or not Bear Stearns called the Fed or JP Morgan first... Full Story |
By: Adam Hamilton, Zeal Intelligence LLC - 14 March, 2008
On Tuesday March 11th, the flagship S&P 500 (SPX) stock index rocketed 3.7% higher in a single trading day! This big rally proved a welcome respite for embattled stock traders. Not only did it nicely boost most sectors, but it temporarily dispelled the oppressive fog of fear billowing out of the mortgage markets. Full Story |
By: Deepcaster - 14 March, 2008
A variety of Fundamental, Technical and Interventional Indicators tell us that we are in the onset of an ominous Financial Climacteric - - The “Main Event” as it were. But this is an “Event” that is unfolding over the course of months. Full Story |
By: Gary Dorsch, Editor, Global Money Trends - 14 March, 2008
Cleaning up the mess that Mr Greenspan left behind was never going to be easy. Banks and brokers around the world face more than half-trillion dollars in write-offs as a consequence of the US sub-prime mortgage crisis, which is spreading from the US property market and roiling global stock markets. It’s toppled the US economy into a recession and the tremors are also rattling Asian stock markets. Full Story |
By: David Morgan, Silver Investor - 14 March, 2008
Simply, gold and silver in physical form, bullion or coins, are on one side of the economic fence and everything else is on the other side. This means that all other financial assets owned outright or otherwise are dependent upon the “system” for settlement. This is what the current strength in physical gold and silver is shouting at us right now. Full Story |
By: Michael Kilbach, Investment Score Inc. - 14 March, 2008
Are you a commodities investor with friends that think you are “crazy” for investing in precious metals? Do these same friends advise you to indefinitely “buy and hold” a large amount of “well diversified” mutual funds for the “long term”? We are continually amazed at how few investors seem to open their eyes to changes all around them, including what is really happening in the financial markets. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 14 March, 2008
The dinosaurs had a monetary system based on gold, which explains why the historical record shows absolutely no inflation in prices during the entire Jurassic period, and anyone who says otherwise is a lying bag of crap. Full Story |
By: Rick Ackerman, Rick's Picks - 14 March, 2008
Overly bearish sentiment has put us temporarily in the bulls’ camp, but we part company with the those who evidently are gearing for a powerful rally that lasts into summer or longer. Full Story |
By: Ira Epstein - 13 March, 2008
No matter what I write, it seems pretty clear that world, not just US markets, think the Dollar is falling off a cliff and nothing the Fed is doing ends up supporting it. As the Euro approaches 156 and the Yen roars up to highs not seen since 1995, holding long Dollars is simply too “hot a potato” to hold onto. This is the primary reason that items priced in Dollars have and are roaring to the upside. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 13 March, 2008
-The worst conditions for the U.S. economy since the Great Depression…gold kisses $1,000 an ounce…
-The gods are giving the boot to the entire financial industry…what more can the Federal Reserve do?
-Your last chance to get in on the commodities super-cycle…and more! Full Story |
By: Richard Benson, SFGroup - 13 March, 2008
No one can ever be too rich, too thin, or too beautiful. We would all like to look into a mirror that tells us that. But in tough economic times like these when inflation is raging, unemployment is climbing, and the economy is falling apart, our government is forced to look into the mirror and create a magical image by reassuring the American people that everything is just fine with the economy, when it’s really not. So how exactly do they go about doing this? Full Story |
By: Peter Zihlmann - 13 March, 2008
Above charts show the strong bull markets in both gold and silver and our medium term targets based on previous market actions. Silver has outperformed gold since the bull market started and each rally also showed stronger gains. We think that silver will continue to outperform gold. Full Story |
By: Jim Willie CB - 13 March, 2008
The USDollar DX index has hit my 72 target on this latest leg of its breakdown. The news is all wretched. Iran, Nigeria, and even tiny Vietnam are rebelling against the crippled buck. The Persian Gulf Arab nations are trying to find a graceful way to detach from their devastating US$ peg that has wrought horrendous price inflation to the region. The end of the defacto Petro-Dollar standard will be the biggest external event concerning the USDollar this year, while the failure of prime Exploding ARMs will be the biggest internal event. Full Story |
By: Christopher G. Galakoutis - 13 March, 2008
Imagine that, an entire economy built around the ability of the American consumer to borrow and spend money he can never conceivably pay back. A consumer so gorged in debt that he eventually stops making payments on his mortgage, credit cards and others debts, putting an end to the gravy train ride of the financial institutions that facilitated the funneling of credit to the now beleaguered spender. Full Story |
By: Warren Bevan - 13 March, 2008
My mother always said “things happen in threes”. Today Gold finally hit the $1,000 print. It’s taken a long time but it’s been worth the wait. Unfortunately we may have to wait a while longer. There are many recent examples of commodity stocks and indices needing to bump up against major real or psychological resistance three times before building the strength to power through and leave it in the dust. Full Story |
By: Clive Maund - 13 March, 2008
Since the last update a very important technical pattern has been discovered first on the silver chart and then on the gold chart, which suggests an early end to the corrective phase in gold and silver and implies that the advance in both may be about to accelerate dramatically. Full Story |
By: Clive Maund - 13 March, 2008
About a week ago in the last Silver Market update we called a SHORT-TERM top in gold and silver, and we got one. As you may recall the timeframe for the reaction was until about the 17th. Although we have seen a reaction it has thus far been modest, and now, after the extraordinary action and events of the past couple of days, it MAY be over. Full Story |
By: David Coffin and Eric Coffin - 13 March, 2008
The shift away from assuming US debt issues are the doom of all things is now underway. Whether we are in a false bottom ahead of a second broad downturn on more bad financial news is unknowable. More negative details on the total losses from mortgage based debt are likely from the banking sector. But we do think the scale of this mess is beginning to be understood and has become an issue mainly for those who created it. Full Story |
By: Bob Chapman, The International Forecaster - 13 March, 2008
Boston gave us the "Big Dig," Socorro, New Mexico hosts the "Very Large Array," but from Wall Street and Washington, D.C. we get the "Big Lie," soon to be followed by the "Very Large Depression." We think that most of you understand about the potential for a "Very Large Depression" which we have spoken of in several of our recent issues, but you may have been wondering about what we meant by the term: "Big Lie." Full Story |
By: Richard Daughty, The MOGAMBO GURU - 13 March, 2008
And the good news is that CD buyers are looking downright intelligent compared to the morons buying two-year notes, which have been bid up so high that they are nominally yielding less than 1.5%! Full Story |
By: Rick Ackerman, Rick's Picks - 13 March, 2008
We don’t want to be the orange blossom in the punch bowl, but it’s time to acknowledge that sentiment figures look too bearish at the moment for the stock market to collapse. Full Story |
By: Adrian Ash, BullionVault - 12 March, 2008
If only the big central banks would sit on their hands and let this crisis work out, they could save Western taxpayers up to 98% of the potential mopping-up costs... Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 12 March, 2008
-Who will win the financial War of the Worlds?…the end of the U.S. heyday…
-Market influenced movie titles…dodging a contraction - it's an election year…
-Bernanke: the star of an R-rate snuff film…who wants to be the next Fed Chairman?…and more! Full Story |
By: James West, The Midas Letter - 12 March, 2008
Now that the Ph.D. elites on Wall Street have had the tech and real estate bubbles blow up in their faces, comprehension seems to be dawning even in the dark canyons of New York’s financial district. Gold is money. And what better way to seal a marriage? Full Story |
By: John Browne, Senior Market Strategist, Euro Pacific Capital, Inc. - 12 March, 2008
As our consumer dominated economy faces the threat of imminent stagflation (economic recession and financial inflation at the same time), losses will not be limited to the poor. Many get-rich-quick investors also will become poorer! Full Story |
By: Gary North - 12 March, 2008
We are now facing the previously unthinkable: a real lock-up of the mortgage market, followed by a sharp decline in housing prices. This would produce dramatic capital losses. It would reverse the wealth effect. The wealth effect is the emotional effect of a person's equity any party of his portfolio. He feels richer. He spends more. He saves less. Full Story |
By: David N. Vaughn, Gold Letter, Inc. - 12 March, 2008
Yes, gold climbs and climbs and is ignored by the general mainstream. Gold topples back and forth but invariably it continues to climb forward. For five years the bears have predicted its demise but it continues its higher march. Full Story |
By: Michael Nystrom - 12 March, 2008
Prior Tuesday's monster 416-point Dow rally, the Global markets - not just the US - were panicked, possibly on the verge of a crash. US financial stocks were the primary focus of the fear. On the Monday before the Fed's latest action, bank & financial stocks were in the grips of mini-crashes of their own. Full Story |
By: Clif Droke - 12 March, 2008
The sentiment couldn’t be any more bearish right now. Everyone is talking about recession and more financial turmoil as if it’s inevitable. That by itself is an indication that the stock market has already priced in the worst and an interim bottoming process is well underway. Full Story |
By: Roy Martens - 12 March, 2008
Lately, silver has been making huge daily swings, and the big picture is becoming clearer and clearer. If the weekly chart in this month’s update is correct, we are on the verge of completing the presented head and shoulders pattern, triggering a gold-silver ratio of 12 to 14. If the neckline is taken out, we should see the next stage in this cycle occur, i.e. another acceleration in the declining gold-silver ratio. If this transpires, silver producers and explorers could really take off, sending their share prices into orbit. Full Story |
By: Alex Epstein - 12 March, 2008
Every few days we hear that another leading financial institution has written down billions more on subprime investments gone bad. Nearly every major financial institution, it turns out, had a hand in loans to low-credit borrowers--borrowers whose ability to pay often hinged on endlessly low interest rates or a strong housing market. Full Story |
By: Ned W. Schmidt, CFA, CEBS - 12 March, 2008
The acceleration of Gold's rise, as shown in this week's chart, has brought smiles to faces of many and greed to the hearts of others. Again, a parabolic move with accelerating slope in a market is a yellow flag, not a sign of encouragement. What might cause the break in Gold's parabolic rise? Full Story |
By: Richard Daughty, The MOGAMBO GURU - 12 March, 2008
Gold is essentially a rock! So why is it so valuable? Why do people always turn to gold at the end? The answer is that there is nothing else to take its place as a store of wealth that does not rot, corrode or disappear… Full Story |
By: Rick Ackerman, Rick's Picks - 12 March, 2008
A tediously dull gold market appeared yesterday to shrug off the extremely inflationary implications of the Fed’s latest rescue plan for the banking system. The central bank sent shares soaring on Wall Street with the announcement that it will set aside $200 billion of Treasurys to lend to banks and securities dealers. Full Story |
By: Bud Conrad, Casey Research - 11 March, 2008
That we are moving into – or already are – in a recession is practically a given. But what will it be: inflationary or deflationary? Casey Research’s Chief Economist Bud Conrad weighs in with his findings… Full Story |
By: Michael J. Kosares - 11 March, 2008
Oil and gold have had a long association in the minds and hearts of investors. Where one goes, the other seems to follow. So when OPEC made its announcement last week to maintain production at current levels, gold market participants might have taken it as a suggestion that gold would be basing at just under $1000 instead of forming a top. When comparing oil and gold on the inflation-adjusted charts, however, there appears to be more to the story than the possibility that we have reached an interim bottom. Full Story |
By: Thomas Tan, CFA, MBA - 11 March, 2008
I can't believe all the bad news in the financial industry in the last several days. You heard Blackstone's profit tumbled 89% for Q4 2007, Carlyle Capital (a leveraged fund linked to private equity firm Carlyle Group) faced potential insolvency, and there is even speculation that Bear Stearns is running out of cash which they denied immediately. Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 11 March, 2008
-Where will it all end for financial stocks?…geniuses taking their lumps along with the lumpen on Wall Street…
-Favoring the TIPS - bonds adjusted for inflation…why don't investors favor gold over treasuries?
-Time is running out to join the Resource Reserve…and more! Full Story |
By: Theodore Butler & James R. Cook - 11 March, 2008
The price moves in silver have been dramatic. Volatility looks to be increasing. It is something we must adjust to. After all, prices are 4 to 5 times greater than the lows of several years ago. Volatility should be greater. I’m convinced that one day we will look back to the current volatility as being contained. Everything is relative. Full Story |
By: Captain Hook, Treasure Chests - 11 March, 2008
Some would say it was the news that caused stocks to fall yesterday, but if you believe this, consider yourself in the naïve camp. Nothing fazes traders today, especially those using ‘other people’s money’ (OPM), and even worse, those guaranteed an endless free supply from the Fed. Full Story |
By: Steven Saville, Speculative Investor - 11 March, 2008
We have two potential scenarios in mind for the gold sector, the first of which can aptly be labeled "the 1973 model" because it involves the financial markets behaving in a similar fashion to the way they behaved during 1973. To help explain this scenario we've re-produced, below, two charts originally included earlier commentaries. Full Story |
By: Ty Andros, TraderView - 11 March, 2008
Volatility is opportunity and we are seeing it in spades. The markets are jumping and thus creating juicy opportunities for the prepared investor. Currencies, interest rates, stocks and commodities are roaring all over the place. The moves are big but in general quite ORDERLY. This is set to continue as far as the eye can see. Full Story |
By: SilverStratetgies.com team - 11 March, 2008
So far so good - the pattern proves persistent rate of growth and almost identical time span for subsequent consolidations, each consolidation lasted two years. However, we expect increased volatility and ascent of silver price to accelerate. We're five years into this bull market and there is no cycle top in sight yet. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 11 March, 2008
The rise in retail prices is caused by…the Federal Reserve creating excessive amounts of money and credit. High prices, therefore, are the RESULT of the ridiculous excesses of the Federal Reserve, not the cause. Full Story |
By: Rick Ackerman, Rick's Picks - 11 March, 2008
Sometimes we feel blessed not to possess a crystal ball, since, if we’d asked the wrong question of it a year ago, the correct answer might have led us seriously astray. “At what price will Citigroup be trading a year from now, oh wise and powerful Oracle?” Full Story |
By: Bill Bonner & The Daily Reckoning Crew - 10 March, 2008
-Stock market took a nice wallop on Friday…all data is pointing toward 'recession'…
-Admiring the intricate natural mechanisms of a market economy…not only is the economy sinking - but so is the value of the collateral…
-Pulling on levers…what would you do with $100,000?…and more! Full Story |
By: GoldSeek.com - 10 March, 2008
Arthur Laffer (Laffer Investments) debates Peter Schiff on CNBC, August 28, 2006. We would like to know if Mr. Schiff has received his penny? Full Story |
By: David Galland, Managing Director, Casey Research, LLC - 10 March, 2008
The fly in this otherwise pleasant and lightly scented ointment, however, is that -- thanks to the nature of democracy and even humanity’s shared psychology -- Bernanke is powerless to take Marc up on his common-sense recommendation. In my opinion, the Fed is left with no course of action but to destroy the dollar. Full Story |
By: Mike Whitney - 10 March, 2008
There's absolutely no doubt now that the storm that is currently ripping through the financials will soon bring Wall Street to its knees. It may be a good time to remember that on March 24, 2000, the NASDAQ peaked at 5048. On October 9, 2002 it bottomed-out at 1114; a loss of nearly 80 per cent. Could it happen again? Full Story |
By: Clive Maund - 10 March, 2008
In the update last weekend we were looking for a correction back across the trend channel shown on the 1-year chart below, probably to the $910 area. In the week that has followed gold has churned beneath the resistance at its inner uptrend channel return line, remaining substantially overbought. Full Story |
By: Howard S. Katz - 10 March, 2008
In a free market economy, one could separate economics from politics, and this was attempted in the late 19th century when the U.S. and Britain had a near free market. But today we do not have a free market. Neither political party will declare itself in favor of protecting property rights or reestablishing a gold standard. Both redistribute the wealth, and they disagree only about the details. Full Story |
By: Nadeem Walayat - 10 March, 2008
Seasonally adjusted house prices fell in February by 0.3% to £196,649 (Halifax:SA), a fall of £600. None seasonally adjusted house prices are now down £7,600 since the peak made in August 2007 which equates to an average drop of £1,266 per month in equity. Full Story |
By: Merv Burak, CMT - 10 March, 2008
Gold continues to trade in new high territory but not too enthusiastically. It is well above its long term positive sloping moving average line with no worries for some time, at least not from the long term view. Momentum is also comfortably in its positive zone having made new highs this past week. Full Story |
By: Douglas V. Gnazzo - 10 March, 2008
Things are not looking too healthy in the financial markets. The Dow and the S&P got whacked for about a 3% loss on the week. The Yen and the Swiss Franc are rising and the unwinding of the carry trades continues unabated. The U.S. markets are not alone to the downside, as the chart below shows. Full Story |
By: radio.GoldSeek.com - 9 March, 2008
1st Hour:
Pat Gorman
2nd Hour:
Peter Schiff Full Story |
By: Gary North - 9 March, 2008
The worst is not behind us. The worst is yet to come. I have this on the highest authority – from the man who has openly admitted that his organization has no solutions to offer except month-old data on the extent of the housing crisis. When the public at last figures this out, there will be financial blood in the streets. Full Story |
By: John Mauldin, Millennium Wave Advisors - 9 March, 2008
The official number for employment suggested a loss of 63,000 jobs. But could it have been more like 200,000? And I will make a case for 2,000,000 lost jobs last month. This week we will take a look at the confusing labor-market picture in the US. We will also look at the debate over the money supply. Is the Fed increasing the money supply at a reckless rate, fueling inflation fears down the road? All this and a lot more as we look at how the recession in affecting everyone and everything, from individuals to large businesses. Full Story |
By: Richard Daughty, The MOGAMBO GURU - 9 March, 2008
An apple a day may keep the doctor away, as the saying goes, but you had better not say that anymore, either, because Big Pharma has yet to invent a drug that emulates apples, either! Full Story |
By: Rick Ackerman, Rick's Picks - 9 March, 2008
We had staked out a short position in Citigroup on Thursday’s close, selling March 20 calls naked for almost two bucks apiece, but the stock, aided by short covering, swam against the tide on Friday and finished with a mere 17-cent loss. So much for Friday Follies. By tradition, the stock market is supposed to act a little crazier than usual on Fridays, but all we saw was the same old teeter-totter action between nervous bears and complacent bulls. Full Story |
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