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Weekly Archive

By: Sol Palha, Tactical Investor - 14 May, 2010

We spoke of this issue several months ago and stated that we were possibly in the midst of a new trend. We no longer need to ponder about this anymore; we are, in fact witnessing a new trend. Full Story

By: Andrew Mickey, Q1 Publishing - 14 May, 2010

Every few months institutional investors get hooked on a new trade. The trades start off with solid fundamental ideas, then the Big Money piles in, it goes parabolic, good “stories” bring in the retail investor, and the trade eventually blows itself up. Right now, all signs point to that is what is exactly happening with gold. Full Story

By: Daniel Aaronson and Lee Markowitz - 14 May, 2010

Ultimately, investors will flee government manipulated markets in search of those that offer unhindered price discovery. Gold is an obvious choice because of its historical ability to preserve wealth during episodes of currency devaluation and government insolvency. Gold’s recent run following the ECB’s announcement shows investors are indeed fleeing the broken financial system. Full Story

By: Adrian Ash, BullionVault - 14 May, 2010

IS GOLD in a bubble at €1000 an ounce? Let's hope so. Because if not, it would mean investors are right to keep bidding crisis insurance higher. Full Story

By: Theodore Butler - 14 May, 2010

The CFTC has published the comments it received in regards to its public hearing on precious metals on March 25. The turnout was much larger than I would have guessed by several times, I’m happy to report. Full Story

By: Jeff Clark, Editor Casey’s Gold & Resource Report - 14 May, 2010

Gold is once again above $1,200 and making new highs. And yet, Doug Casey thinks we’re just getting started, estimating gold could touch $5,000 before this is all over. A titillating thought, to be sure, but... how likely is that? Full Story

By: Adam Hamilton, Zeal Intelligence LLC - 14 May, 2010

With the European sovereign-debt troubles dominating financial news, the euro has taken quite a beating lately. The majority consensus opinion even believes that the euro’s very existence is threatened by this crisis. This pervasive euro-bearish psychology has ignited euro gold, which is now challenging the fabled €1000 level. Full Story

By: Gordon T Long - 14 May, 2010

Like a chess game, the bankers called ‘checkmate’ against the EU political leaders on Friday May 5th, 2010. Two days later in an urgently called weekend meeting the EU finance ministers hurriedly announced the biggest bailout in history. Full Story

By: Deepcaster - 14 May, 2010

First, we consider several example of fleecing, whether intentional or not, in order to clearly see the Golden Antidotes. The recent $1 Trillion EU (kick-the-can-down-the-road-Three-years) Bailout of Greece was a fleecing too. U.S. taxpayers/investors are on the hook for another $64 billon! [The IMF will provide $320 billion and since U.S. Taxpayers provide about 20% of IMF funding, their “hit” is about $64 billion.] Full Story

By: David Chapman - 14 May, 2010

For years numerous writers and advisers have been predicting that some form of great reckoning was coming. (The Great Reckoning was a book by James Dale Davidson and Lord William Rees-Moog.) The premise is that every credit-led expansion in recorded history has ended in a dramatic “credit crunch” and economic catastrophe. Full Story

By: Daniel R. Amerman, CFA - 14 May, 2010

To “save” the euro, the European Central Bank (ECB) chose what some economists were calling the “nuclear option”. That sounds dramatic, but for non-economists: what does it mean? Why was Germany so strongly opposed? As we will review herein, the ECB’s choice of the “nuclear option” means: Full Story

By: Andy Sutton - 14 May, 2010

This wasn’t supposed to happen. When it was introduced 11 years ago, the Euro was to be the world’s newest, biggest, and best yet currency. There were strict guidelines for getting into Club Euro and you’d better follow them if you didn’t want to be voted off the island. What became immediately clear is that there were stronger members and weaker members. That fact is becoming increasingly apparent as the real state of the Eurozone now comes into clear focus. Full Story

By: David Knox Barker - 14 May, 2010

Theory is no substitute for experience and the honed instincts of investors and traders. However, it is reasonable to inquire as to the origins of those instincts. Successful investors and traders appear to recognize subtle patterns and trends in markets ahead of the crowd. They invest and trade accordingly. The new Theory 144 approach to technical analysis is in pursuit of the principals behind the patterns and trends in the stock market. Full Story

By: Doug Casey and Louis James - 14 May, 2010

Doug, on March 3, you and I spoke about how to profit from the coming collapse of the euro. Prior to that, we talked about a major market correction on the way this year. Just last week, we saw a major confidence crisis hit the eurozone and the Dow drop 1,000 points in one day's intra-day trading. It looks to me like the beginning of a sequel to the film we saw in 2008: Return of the Crisis Creature. How do you see the latest market developments? Full Story

By: R. D. Bradshaw - 14 May, 2010

The melt down on May 6 and 7, coupled with the recovery on May 10, has produced an array of pundits, procrastinators, analysts, etc trying to explain what happened and why it happened. This Goldsmiths will join the parade and offer hopefully the best explanation and one which none of the so-called experts would dare touch; though it is the most plausible and logical of all. To appreciate this approach, it is well to go back and review some history. Full Story

By: Richard Daughty, The Mogambo Guru - 14 May, 2010

I always make sure that I have taken all my pills before I look at the end-of-month money supply figures, which turned out to be a good idea, because M2 growth has been, as they say, quite anemic for the past several months. Full Story

By: Rick Ackerman, Rick's Picks - 14 May, 2010

[We wrote here recently that last week’s panic attack on Wall Street is unlikely to be the last. The markets have since rallied strongly, but that won’t change the outlook, says a wise friend of ours who has been following the markets for thirty years. In the essay below, he explains why shouting “Fire!” on Wall Street is not quite the same as shouting “Fire!” in a crowded theater. RA] Full Story

By: Andrew Mickey, Q1 Publishing - 13 May, 2010

The only thing that matters in this market is liquidity. As last Thursday’s market sell-off and this week’s rebound have proven, the only real factor driving the markets higher is liquidity. Full Story

By: Gary Dorsch, Editor, Global Money Trends - 13 May, 2010

It takes a lot more time to safely extinguish a fire than it does to start it. There’s an important lesson to be learned from a sad story of a homeowner, who had been burning debris in the backyard of her home, and thought she had put the fire out. She later found out the fire had spread and was burning grass underneath her deck porch, which soon engulfed her two-story brick frame home in flames. Full Story

By: Dr. Thomas Chaize - 13 May, 2010

Historically, gold is rare because of the poverty of precious yellow metal in gold mines. Despite all the difficulties, the world gold production managed to grow for centuries; it multiplied by 4 in 100 years. But since 2001, the miraculous growth of world gold production appears to have peaked. Full Story

By: Jake Towne - 13 May, 2010

America's monetary situation is becoming fairly ridiculous. This Monday, the Wall Street Journal carried "Will Nickel-Free Nickels Make a Dime's Worth of Difference?" on its front page. The article shares the government's dilemma that minted each $100 box of nickels costs very close to $200, and that the metal content of the coin is worth more than the face value of 5 cents. Full Story

By: Neil Charnock - 13 May, 2010

Gold reached US$1248.20 which was a new record high in USD. Silver has also followed gold up, this rally looks like the real thing. I have to stand corrected here as I was off the mark a little in some recent statements. I forecast US$1180 as an interim top and it only reached $1170 before pulling back to the $1140 level. I had also thought we would have pulled back for longer and that this rally would be a false break out. So much for short term forecasting it is extremely difficult. This short term forecast turned out wrong thanks to one trillion more reasons potentially circulating in Europe. Full Story

By: Frank Holmes, U.S. Global Investors Inc. - 13 May, 2010

McKinsey Global Institute (MGI) believes India is on the verge of the second-greatest urban migration the world has ever seen. In their new report India’s Urban Awakening, MGI says India’s urban population could balloon to 590 million—nearly twice the size of the United States—by 2030. Full Story

By: Gary Tanashian - 13 May, 2010

Now nothing... because a target is just a target. We have been here before; those of us who have been around the precious metals markets throughout the current, ongoing secular bull. We have been through the extended periods of questioning by 'the faithful' as to why the ancient monetary relic does not keep up with more heavily gamed assets, which are not coincidentally positively correlated to the inflated economy. Full Story

By: Peter J. Cooper - 13 May, 2010

The Emirates Palace Hotel in Abu Dhabi yesterday unveiled the first Gold To Go dispensing machine in the world as the retail demand for gold continues to grow as faith in paper currencies declines. Full Story

By: - 13 May, 2010

Special GSR Gold Nugget: Kevin Kerr and Chris Waltzek Full Story

By: Jim Willie CB - 13 May, 2010

The events of the last 12 to 18 months have been as shocking as they have been instrumental in reshaping the global financial structures. In fact, the events have pointed out the fracture of the global monetary system and banking systems. The steady stream of events is accelerating in scope and intensity. The fractures are finally being recognized. Full Story

By: Ira Epstein, The Linn Group - 13 May, 2010

I don’t see gold falling out of favor for a very long time. In my opinion gold has taken on a “reserve currency” status in the minds of those who have become disenchanted with the ability of governments to control spending. The days of the Eurocurrency to survive as a quasi reserve currency are in my opinion over at this point in time. Full Story

By: Richard Daughty, The Mogambo Guru - 13 May, 2010

I was curled up in a corner of the Mogambo Bunker Of Mortal Refuge (MBOMR), feeling terrible that I made a Really Stupid Error (RSE) in a previous MoGu where I, in effect, annualized GDP growth figures that were already annualized, which is such a stupid mistake that I am very, very embarrassed, and all I wanted was to be invisible. Full Story

By: Rick Ackerman, Rick's Picks - 13 May, 2010

The Dow Industrials tacked on another big gain yesterday, blithely ignoring a global thumbs-down on Euroland’s latest, trillion dollar bailout package. The blue chip average finished up 149 points on the day, even as rumors circulated that Germany was about to ditch the euro and resurrect the D-mark. Whether or not this is true – and we doubt that it is – it’s clear that the Germans are becoming increasingly angry about having to play rich uncle to their n’er-do-well neighbors. Full Story

By: The Gold Report and Bud Conrad - 12 May, 2010

"We're heading toward government devaluing its currency to devaluate its debt in order to survive. That means you need to protect yourself. You can't just have savings accounts paying no interest. You need to go and buy gold," says Bud Conrad, chief economist with Casey Research, in this exclusive Gold Report interview. Full Story

By: Przemyslaw Radomski - 12 May, 2010

During the previous weeks much has been said about the declining Euro and what effect it may have on the price of gold - we argued that declining Euro doesn't mean that gold has to decline. We don't want to get into details once again in this essay, but instead we would like to remind you about several facts that we feel have been forgotten during the past several weeks. Full Story

By: Chris Wood, Jake Weber, and Vedran Vuk, The Casey Report - 12 May, 2010

At The Casey Report, we like to focus on facts. Unfortunately, when it comes to government debt, the facts aren't pretty. They show that the country is already sliding towards financial collapse and hyperinflation in a way not dissimilar to the Weimar Republic. Full Story

By: John Browne, Senior Market Strategist, Euro Pacific Capital - 12 May, 2010

As the health of much of the global economy weakens on a daily basis, political leadership increasingly ignores the source of the malady and instead focuses on short term "band-aid" remedies. These measures which may buy a few months, or years, of relative well being, will convince the public that problems have been solved and will thereby take pressure off governments to make the needed structural changes. Full Story

By: Adrian Ash, BullionVault - 12 May, 2010

HAPPY SELLERS a decade ago when gold hit rock-bottom, might the Eurozone states now sell gold at all-time highs to help settle government debt today? Doubt it. Here's why... Full Story

By: Bob Chapman, The International Forecaster - 12 May, 2010

Greece has its immediate financing. Now the question is can they follow the prescription? In all likelihood the answer is no. the bond markets are reflecting that via a lack of confidence. In fact, some bond markets are falling apart and there is no end in sight. We have bond rating firms lowering ratings, as the rating services themselves are under serious fire and we do not believe they will be around long. The big question is why did it take two years and 10 months to react? Full Story

By: Jordan Roy-Byrne, CMT - 12 May, 2010

There are numerous reasons both fundamental and technical as to why the precious metals complex will surge over the next 18 months. The sector’s surge will be reinforced by the lack of an obvious trend in most other markets. Gold, Silver and the mining stocks will surge while other markets languish. Full Story

By: Toby Connor - 12 May, 2010

Gold’s break out to new highs has very bullish connotations going forward. It puts the odds squarely in favor of a C-wave continuation. Full Story

By: Peter J. Cooper - 12 May, 2010

So much for the skeptics who greeted the publication of my book subtitled ‘The Road to $5,000 Gold’ as a signal that the gold market was topping out. Last night gold blasted through its previous high of $1,226 set last December, and is on its way very much higher. Full Story

By: - 12 May, 2010

Special GSR Gold Nugget: Jim Rogers & Chris Waltzek Full Story

By: Jeff Clark, Senior Editor, Casey’s Gold & Resource Report - 12 May, 2010

The keyword is geographical diversification. And while no single investment variable can guarantee profits, geographical diversification does add a layer of safety and enhanced profit potential that investing solely in companies located in one country or region cannot offer. Jerry’s broker, like many in the U.S. who don’t know much about the gold industry, are uncomfortable investing in smaller producers or in faraway regions. And yet, most of the gold is currently being dug up in Africa, South America, China, and Oceania. North America accounts for only 16.3% of total gold production. Full Story

By: Sol Palha, Tactical Investor - 12 May, 2010

We all pretty much have felt the effects of inflation in one form or another. However, economists and the central bankers choose to define inflation as an increase in price of goods. This is a very clever way to actually hide what they are doing. Full Story

By: Antal E. Fekete - 12 May, 2010

The Austrian School of Economics dates its beginnings back to the publication in 1871 of a slender volume: The Principles of Economics (Grundsätze der Volkwirtschaftslehre) by Carl Menger. The adjective “Austrian” was meant to be derogatory, introduced by economists of German school of historicism to ridicule Menger’s idea of basing economic science on axiomatic foundations, on the pattern of logic and mathematics. The root of the word “Austrian” is “East”, so the connotation of “Austrian economics” is “oriental economics” — a kind of voodoo economics. Full Story

By: Dr. Jeffrey Lewis - 12 May, 2010

Anyone paying attention to the stock markets and the precious metals markets will tell you that the correlation that we've grown accustomed to has flip-flopped. Previously, precious metals and the stock markets traded in unison; a 2% up day for the stock markets meant 2% up in gold and silver. A drop in the stock markets meant a drop in the metals markets. However, this is no longer true, as precious metals have broken free! Full Story

By: Mickey Fulp, Mercenary Geologist - 12 May, 2010

The Mercenary Geologist investing philosophy requires actively trading stocks. There are no “buy and hold” scenarios in my portfolio. That said, there are trades and there are investments but that’s a subject to be tackled in a future musing. My trading methodology employs a very conservative strategy to speculate in a very high risk market sector. Full Story

By: Moses Kim - 12 May, 2010

Those of you who have been following this blog from its humble beginnings know that I have been consistently bullish on the long-term prospects of gold, and consistently bearish on the long-term prospects for the American economy. With gold sitting at $1,232 dollars and sovereign debt concerns entering the system, my thesis is unfolding before our very eyes. Full Story

By: Richard Daughty, The Mogambo Guru - 12 May, 2010

I spend a lot of time worrying about how “We’re freaking doomed!” and thus I spend a lot of time crying in fear and occasionally screaming in outrage, a fact that has gotten me thrown out of a lot of bars, and which has not made me any new friends, either, which Suits Me Fine (SMF), actually, since everybody I meet seems to be a moron who cannot see the wisdom of buying gold, silver and oil... Full Story

By: Rick Ackerman, Rick's Picks - 12 May, 2010

Because we called the latest Eurobailout a PR hoax in our most recent commentary, we’ll give equal time to a quite different point of view posted in the Rick’s Picks forum. The author is “Cameroni,” a frequent contributor who says the European Union deserves praise for not shunning Greece and the PIIGs, especially since it will require considerable sacrifice on the part of the “haves.” Full Story

By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 May, 2010

After directly offering gold to the world’s central banks, selling to only a few of them, the I.M.F. moved to Phase 2 of their gold sales. Please understand though that Phase 1 allowed the I.M.F. to announce to whom they had sold gold and what amount. Many central banks would have been unhappy that their potential purchase would be announced, simply because it could affect the gold price and send it higher, making future purchases more expensive. Full Story

By: Dr. Jeffrey Lewis - 11 May, 2010

It took absolutely nothing to bring the stock markets to their knees, but nearly $1 trillion to give them piece of mind. Yes, the European bailout may solve temporary woes, but in the end, it is nothing more than a temporary solution. Full Story

By: Antal E. Fekete - 11 May, 2010

James Turk’s article Hyperinflation Looms dated April 20, 2010, is based on Quantity Theory of Money (QTM). It draws an analogy between Weimar Germany of 1923 and the United States of 2010. Both precepts are invalid. As far as the QTM is concerned, it suffices to point to the very fact, admitted by Turk, that it is possible to have a shortage of money simultaneously with the overworking of the printing presses. Hyperinflation is not the same as the ultimate inflation of the money supply. It is the ultimate depreciation of the currency unit. The two concepts are far from being the same, QTM notwithstanding. Full Story

By: Ron Hera - 11 May, 2010

Economic bubbles are not recognized by those inside of them, and the entire Western world has become quietly trapped inside the largest economic bubble in history. The global financial crisis that began in 2008 has been attributed to sub-prime mortgage lending and mortgage backed securities (MBSs), such as collateralized debt obligations (CDOs), which were revealed as toxic assets. While the root cause of the financial crisis is assumed to have been the residential real estate asset price bubble, the underlying systemic risk, and the primary reason for the “too big to fail” doctrine whereby governments were compelled to save financial institutions at any cost, lies in over the counter (OTC) derivatives. Full Story

By: Richard C.B. Johnsson - 11 May, 2010

First private citizens, government agencies, major banks, financial institutions and corporations being saved from debt default in various government bailouts. Now we are seeing bailout of entire countries. First out is relatively small Greece, with a GDP of 2% of EU GDP and a bailout at $133bn. Another of the PIIGS countries in line for bailout is Spain, bailout size a monstrous $364bn according to rumors. Comparatively large California – 11% of US GDP and world top 10 if it was a country – might be another candidate, a state that is reported not even being able to meet its payroll obligations for May. Full Story

By: Hubert Moolman - 11 May, 2010

From October 2008 to date the gold price has performed rather well. It is up 77.6% from the intraday low of $682 on 24 October 2008. It is of course not the only good up since then; in fact most goods are quite well up in nominal dollar terms. Full Story

By: Darryl Robert Schoon - 11 May, 2010

What we don’t know explains what we don’t understand. This is why the work of the Gold Anti-Trust Action committee, GATA, is to be admired. Much of the exposure of the US government’s hidden hand in the manipulation of the gold markets is due to GATA’s work. What most still do not understand is the extent of that hidden hand and its effect on America, a nation many believe to be free. Full Story

By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 11 May, 2010

During New York’s day the gold price regained its strength, firmed some more, then rose to close over $1,200. This morning Asia took the reins and took the gold price back to $1,208 with London coming in to take it over $1,210. The market has clearly shrugged off the ‘rescue’ and remains volatile and uncertain of the Eurozone. Full Story

By: Peter J. Cooper - 11 May, 2010

Not only has the gold price sailed past the volatility of the last week in global financial markets, gold has positively benefited from the chaos and today put on $15 and at the time of writing is less than $10 short of its $1,226 an ounce all-time high reached last December. Full Story

By: Bill Downey - 11 May, 2010

In what has now become the normal in expectations, European policy makers have announced a 750 BILLION EURO bailout policy late Sunday evening in defense of the Euro currency and a show of force between the USA FED, the European Central bank, the Bank of Japan, the Bank of Canada and the Bank of England. Full Story

By: Richard Daughty, The Mogambo Guru - 11 May, 2010

I am a guy who thinks he is a hero for being “out there”, on the cutting edge, heroically standing at major intersections, yelling my head off to educate drivers who get caught at the stop light, by looking them right in the eye and telling them that “You are doomed, you moron! Doomed! Doomed by the loathsome Federal Reserve creating So Unbelievably Much (SUM) excess money... Full Story

By: Rick Ackerman, Rick's Picks - 11 May, 2010

At last, the European Union has decided to do a USA-style bailout – one with a quintessentially American, trillion dollar price tag and a shining vision of success. “[The agreement] will ensure that any attempt to weaken the stability of the euro will fail,” said European Commission President Jose Manuel Barroso. Yeah, but for how long? Full Story

By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 10 May, 2010

"To understand gold price movements now, you must watch macro-economics, not the short-term €:$ exchange rate, as the influence of that rate is diminishing slowly.” Full Story

By: Axel Merk and Kieran Osborne - 10 May, 2010

French President Sarkozy wasn’t kidding when he promised to shock the markets with a series of measures aimed at containing the sovereign debt crisis. Europe got the bazooka former U.S. Treasury Secretary Paulson always wanted. German chancellor Merkel and European Central Bank (ECB) President Trichet control the bazooka’s safety. What are the implications for liquidity and solvency issues? The euro and U.S. dollar? Full Story

By: Captain Hook - 10 May, 2010

More than the perception increasing sovereign bailouts in a worsening economy around the world will bolster precious metals moving forward, countries that are still paying their bills will need to have greater percentages of gold in reserve in order to maintain any semblance of currency stability in what might escalate into quasi-hyperinflation despite what faulty money supply measures will have the consensus believe. Full Story

By: Dr. Ron Paul, U.S. Congressman - 10 May, 2010

It doesn’t come as too much of a surprise that the measure to audit the Federal Reserve is coming under continuous fire from the central bank and its cronies. For the first time since the Federal Reserve was created nearly a century ago, they have hired an actual lobbyist to pound the pavement on Capitol Hill. This is a desperate effort to hang on to the privilege of secrecy and lack of accountability they have enjoyed for so long. Last week showed they are getting their money’s worth in the Senate. Full Story

By: Richard Benson, SFGroup - 10 May, 2010

My wife and I are getting a little older, so naturally we are beginning to think about where the cash flow will come from when we truly retire. We realize we won’t be able to live on Social Security benefits alone, and even though we have paid into the system our entire lives in the hopes that come retirement age we’ll get something back, I’m not very optimistic about our prospects. Full Story

By: The Gold Report and Helen O'Malley - 10 May, 2010

"The price for manganese ore has recovered a lot more swiftly and strongly than we anticipated," explains Helen O'Malley, a bulk manganese specialist with London-based CRU, adding: "The price bottomed out last year to about $3.50 per dry metric ton unit (DMTU) and now it's up to about $8.00." In this exclusive interview with The Gold Report, O'Malley sheds some light on the seldom-discussed metal and its supply and demand fundamentals. She also explains how the market is really being driven by China. Full Story

By: Howard S. Katz - 10 May, 2010

At 0% real interest rates virtually no one will lend, and almost everyone wants to borrow. The free market never creates 0% real interest, and when the Fed forces this unnatural condition upon us, the economy is wildly distorted. The last such distortion was the housing bubble of 1997-2006, and that was caused by Greenspan’s lowering of short rates to 1%. Bernanke is going him one better. Full Story

By: Sol Palha, Tactical Investor - 10 May, 2010

The initial trigger for the drop in the Dow was probably due to fears that the Greek crisis was going to spread. One could credit this for 300 or maybe even a 400 point drop in the Dow; however, a 1000 point drop is quite another matter. Full Story

By: Peter J. Cooper - 10 May, 2010

Gold and silver prices advanced late last week in the aftermath of Thursday’s 1,000-point plunge in the Dow, and bounced higher in the immediate reaction to the near trillion dollar euro-bailout package on Monday morning. Full Story

By: Clive Maund - 10 May, 2010

Gold ended last week very close to new highs against the dollar, which was a remarkable achievement given that the dollar soared and that the stockmarket fell heavily. The NYSE tried to explain away the near 1000 point drop in the DJIA intraday on Thursday as being due to some sort of technical glitch, but the more plausible explanation for us is that it was occasioned by temporary blind panic, which should it recur would have rather unfortunate consequences, to put it mildly. Full Story

By: Adam Brochert - 10 May, 2010

The value of common stocks relative to Gold is about to accelerate in the opposite direction the Larry Kudlow and Jimmy Jack Cramer crowd are expecting. The concept of relative wealth is an important one for Gold bulls to comprehend and embrace, as it allows them to calculate gains in something besides unstable paper debt-backed fiat currency, which is a worthless measure of value. In other words, it negates the need to worry about the inflation-deflation debate. Full Story

By: Gene Arensberg - 10 May, 2010

Positive money flow into gold and silver ETFs showed strongly this week as the very viability of one of the world’s major fiat currencies (the euro) comes into serious question. Indeed the very existence of the European Union now seems questionable where just two years ago its currency strangely seemed preferable to many. Full Story

By: Rick Ackerman, Rick's Picks - 10 May, 2010

So, was it thinking machines that put stocks into a death dive last week, or was it primal human fear? Either way, there’s a neurological disease at work and therefore little likelihood of a cure. Even worse, since these diseases tend to be degenerative, we should expect something still more disruptive in the future. Ham-handed regulations won’t be able to stop it, either. Full Story

By: - 9 May, 2010

1st Hour:
Headline news & the Market Weatherman Report.
Spotlight Stock Picks.
Host Chris Waltzek & The International Forecaster discussion and listener's questions.
2nd Hour:
- John Williams, Shadow Stats
- Richard Daughty, The Mogambo Guru Report Full Story

By: Julian D. W. Phillips, Gold/Silver Forecaster - Global Watch - 9 May, 2010

From now on we believe that a growing number of weekly investment strategy meetings will recommend that a percentage of funds be held in gold for the long-term. This will ensure that the gold price will hold $1,200. Why, central bank demand alone is capable of ensuring that the gold price is underpinned. New buyers will have to pay a rising price. Full Story

By: Bob Chapman, The International Forecaster - 9 May, 2010

It was 7 years ago we said Fannie Mae and Freddie Mac were bankrupt. Most everyone within the beltway knew it, but no one would say anything about it. This as it now turns out they were the poster companies, which led to sovereign debt problems, but also showed that they were involved in massive fraud over several years and many in Washington knew it. Full Story

By: Andy Hoffman - 9 May, 2010

In my view, the past week represents the beginning of the second phase of the economic meltdown. Yes, it is a global crisis, in that most countries will be affected negatively to some extent. But the epicenter of this catastrophe is clearly the United States, which thanks to the abandonment of the Gold Standard in 1971 has fostered and create the conditions which threaten to wipe out countless Western currencies. Full Story

By: John Mauldin, Millennium Wave Advisors - 9 May, 2010

Last week we focused on the first half of a paper by the Bank of International Settlements, discussing what they characterized as the need for "Drastic measures ... to check the rapid growth of current and future liabilities of governments and reduce their adverse consequences for long-term growth and monetary stability." As I noted, you don't often see the term drastic measures in a staid economic paper from the BIS. This week we will look at the conclusion of that paper, and then turn our discussion to the fallout from the problems they discuss, initially in Europe but coming soon to a country near you. Full Story

By: Gary North - 9 May, 2010

From time to time, someone asks me: "What would you do about the Federal deficit?" I have this amazing answer: "End it immediately. Then run a surplus until it is paid off 100% – exactly as I would do with my own budget." Full Story

By: Adam Brochert - 9 May, 2010

Honestly, it may actually be time for Prechter to be mostly right. I love the guy and his rational arguments. I just hate that he doesn't accept Gold as real money that will be sought as a safe haven more than the U.S. Dollar. If you take his arguments for Armageddon in the stock market and price the stock market in Gold, the guy's already been right for a decade! Full Story

By: Gene Arensberg - 9 May, 2010

Bottom line: COT report suggests COMEX commercials not confident in lower gold and silver prices. Gold +0.25% and the gold LCNS +2.3%. Silver -1.8% and the silver LCNS -1.8%. Details just below. Full Story

By: Merv Burak, CMT - 9 May, 2010

The saying “looks too good to be true” just seems to fit the latest gold activity. I like the action but something just doesn’t jive. Maybe it’s that (lack of) momentum (strength) behind the recent stock price action. Love it while it’s there but always be on guard. Full Story

By: Richard Daughty, The Mogambo Guru - 9 May, 2010

To those who say that Goldman Sachs is a bunch of lying, deceptive, greedy, cheating, backstabbing vipers, let me remind you that Goldman Sachs is just one small, dark, slimy corner of the world. Full Story

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