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- RBC Projects Gold “Bubble” on Road to $3,800
- China and Russia To Stop Using the U.S. Dollar For Mutual Trade! Who's Next?
- Gold Seeker Weekly Wrap-Up: Gold and Silver End Mixed on the Week
- Ideas for Crisis-Proof Investment Strategies
- Silver Targets $30 on Investment Demand - Risk of Contagion Increases
- The Gold price isn’t about Gold!
- Will Buying Silver Crash JP Morgan?
- M&A Update: Del Monte Agrees to $4 Billion Bid
- The Coming European Debt ...
- Wall Street Breakfast: Must-Know News
- Mitek Systems: The Microsoft of Mobile Deposit and Bill Pay Software?
- People's Bank of China Researcher Calls on U.S. to Sell Gold
- Juniors vs. seniors: Secondary gold-mining companies have been trouncing the majors
- China and Russia Drop the Dollar in Bilateral Trade
- Interview with Theodore Butler
- Silver: The Best Commodity Investment in a Stimulus-Driven Slow Recovery
- the chemistry of why gold is money
- Update on Hulbert Sentiment Indicator
- Gold – "Buy on Dips" Advised as Irish Crisis Tips "Ugly Contest" from Dollar to Euro
- Currency Crisis! So What Happens If The Dollar And The Euro Both Collapse?
- 2010 U.S. silver bullion coin sales already surpasses records
- Could a cartoon be right about gold????
- Unlike Gold - Stimulus Is Effective Only Under Certain Circumstances
- Driving the News Agenda: Jones and Keiser
- Chinese Central Bank On High Alert Inflation Alert
- NeoLiberalism and the Cou...
- The Three Gold Camps
- Holiday Squeeze on the Dollar, Gold and Stocks
| RBC Projects Gold “Bubble” on Road to $3,800 Posted: 26 Nov 2010 06:35 AM PST The chief institutional strategist at Canada's biggest bank, Royal Bank of Canada (RBC), believes gold prices are probably heading the way of the NASDAQ in the 1990s and the Nikkei in the 1980s into mania territory on the road to $3,800 an ounce. Words: 595 | ||
| China and Russia To Stop Using the U.S. Dollar For Mutual Trade! Who's Next? Posted: 26 Nov 2010 06:35 AM PST Yesterday, another brick was taken out of America's dollar fundamentals. China and Russia have announced that they intend to stop using the U.S. dollar and begin to pay for trade between their two countries in renminbi and rubles, respectively, from now on. It begs the following question: Will the OPEC countries of the Middle East follow suit in abandoning the U.S. dollar? Words: 614 | ||
| Gold Seeker Weekly Wrap-Up: Gold and Silver End Mixed on the Week Posted: 26 Nov 2010 04:49 AM PST Gold fell over $20(from Wednesday's close) to as low as $1351.33 and silver dropped over a dollar to as low as $26.452 in early New York trade before both metals rallied back higher into the close, but gold still ended with a loss of 0.63% and silver closed with a loss of 3.05%. | ||
| Ideas for Crisis-Proof Investment Strategies Posted: 26 Nov 2010 04:01 AM PST Gold in Mind has lately increased its focus on the next financial crisis. We think that the situation is worsening much faster than we originally anticipated. | ||
| Silver Targets $30 on Investment Demand - Risk of Contagion Increases Posted: 26 Nov 2010 01:41 AM PST
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| The Gold price isn’t about Gold! Posted: 26 Nov 2010 01:37 AM PST
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| Will Buying Silver Crash JP Morgan? Posted: 26 Nov 2010 01:29 AM PST Kevin McElroy submits: I’ve been buying silver for the past few years now, and believe me; I never imagined that doing so would be a part of a political or societal movement. I’ve been buying for practical reasons – to protect some portion of my net worth from the eventuality and likelihood of a currency crisis. But right now, at this very moment, there’s a group of people spurring a movement to buy silver in order to bankrupt JP Morgan (JPM). One especially vocal provocateur is financial analyst Max Keiser. He’s been credited with starting this movement. And to be honest, I think Max is spot on when it comes to his analysis. I just don’t know if his plan will work. Complete Story » | ||
| M&A Update: Del Monte Agrees to $4 Billion Bid Posted: 26 Nov 2010 12:44 AM PST optionMONSTER submits: By Jon "DRJ" Najarian KKR Takes Company Private Del Monte (DLM) agreed to a $4 billion takeover at the hands of Kohlberg Kravis Roberts & Co (KKR). The deal values the food company at $19 a share, 5.6 percent more than its close on Wednesday. Some of that speculation seems to have gotten out early because DLM rallied almost a dollar in the final half hour of trading. The company also has the right to seek higher bids through Jan. 8. The shares are up another 4.55 percent to $18.80 in the pre on tradeMONSTER's extended-hours platform. Complete Story » | ||
| Posted: 25 Nov 2010 11:21 PM PST | ||
| Wall Street Breakfast: Must-Know News Posted: 25 Nov 2010 10:10 PM PST
Today's Markets
Friday's Economic Calendar
Seeking Alpha's Market Currents team contributed to this post. Complete Story » | ||
| Mitek Systems: The Microsoft of Mobile Deposit and Bill Pay Software? Posted: 25 Nov 2010 09:26 PM PST Paul Sco submits: Mobile payments and deposits seem like one of the next big trends: Complete Story » | ||
| People's Bank of China Researcher Calls on U.S. to Sell Gold Posted: 25 Nov 2010 08:47 PM PST The European debt crisis goes viral. China and Russia drop the dollar in bi-lateral trade. Mark Hulbert very positive on gold stocks. John Embry and Rob McEwen speak out. A long interview with silver analyst Ted Butler... and much more. ¤ Wednesday and Thursday in Gold and SilverNot a lot happened on either Wednesday or Thursday worth spending much time on. The gold price spent most of that 48-hour time period within a ten dollar price range... and at this rarified price, that's basically flat. The red line on the chart is Wednesday... and the green line is Thursday.
Silver's action during the last couple of days is hardly worth mentioning, either. There was a bit of a sell-off at the London p.m. gold fix on Wednesday... but the price recovered quickly. Silver spent most of those two days within a 25 cent price band... less than a 1% range. Nothing much to see here, folks.
The dollar didn't do much either... trading basically unchanged since the Wednesday morning open, right up until 11:30 p.m. last night as I write these words. Here's the 3-day chart.
With the U.S. markets closed yesterday, here's the HUI for Wednesday. The gold price finished a hair lower on that day... and so did the shares.
Wednesday's preliminary volume numbers in gold, net of all roll-overs, was around 185,000 contracts... which was quite a bit for pre-holiday trading. Silver's net trading volume was in the neighbourhood of 65,000 contracts. Because of the way that the open interest numbers were reported in the CME volume report... I'm going to be particularly interested in the final open interest numbers when they become available later this morning. It's too bad that none of this data will be in Monday's Commitment of Traders report. The CME's Daily Delivery report on Wednesday showed nothing worth mentioning... and there was no report from either GLD or SLV. The U.S. Mint sold another 4,000 ounces of gold eagles... with silver eagle sales remaining unchanged. Month-to-date, gold eagle sales are now at 87,000 ounces, with silver eagle sales stuck at 3,875,000 coins. We've got three working days left to break the four million barrier... and if it happens, will the mint report it? We'll find out soon enough. The Comex-approved depositories reported that silver stocks rose a net 352,504 ounces on Tuesday. The link to that action is here.
¤ Critical ReadsSubscribeSpain and Portugal under fire as bond spreads hit recordI have a couple of days worth of stories for you in this column today... and you can pick and chose whatever is of interest to you. The European debt crisis is now going viral. With Ireland now a ward of the IMF for generations to come, the contagion has spread to two other members of the PIIGS family. Here's a story from The Telegraph that Roy Stephens sent along that's headlined "Spain and Portugal under fire as bond spreads hit record". The link is here.  Unions Shut Down Portugal Over Planned CutsRoy has another story on the Euro crisis... this one being specific to only one country... Portugal. It's a piece out of Wednesday's issue of the German website spiegel.de... and it's headlined "Unions Shut Down Portugal Over Planned Cuts". The link is here.  Swaps Soar on 'Sacrosanct' Senior Europe Debt: Credit MarketsHere's a Bloomberg story from reader Wesley Legrand. The cost of protecting against defaults on senior notes of European banks is soaring on speculation bondholders will be forced to take losses as governments try to share the burden of taxpayer-funded bailouts. The headline reads "Swaps Soar on 'Sacrosanct' Senior Europe Debt: Credit Markets"... and the link is here.  It's Official: There Is Not Enough Money To Bail Out SpainReader 'David in California' has three offerings for us today. The first is this zerohedge.com piece that's headlined "It's Official: There Is Not Enough Money To Bail Out Spain". It's a bit of read... but the graph at the end of the story is worth trip... and the link is here.  That voice of truth belongs to Nigel FarageBut into this European madness steps a voice of reason that cuts to the chase of what is really going on. That voice of truth belongs to Nigel Farage... a British politician and leader of the UK Independence Party... and a current Member of the European Parliament. His speech runs about three and a half minutes, but in it, he rips European Union president Van Rompuy [and all his 'wannabe globalist fascist' friends] a new one. This speech occurred at the end of October, but could just has well been given yesterday. I thank reader 'David in California' for sharing this must watch youtube.com video with us... and the link is here.  China and Russia Drop the Dollar in Bilateral TradeOn an entirely different topic, the next offering for you today is this GATA release from yesterday which Chris Powell headlined "China and Russia Drop the Dollar in Bilateral Trade". It's an item posted yesterday over at the chinadaily.com.cn website... and the link is here.  From Lisbon to Vladivostok: Putin Envisions a Russia-EU Free Trade ZoneWhile on the subject of Russia, here's another story from the German website spiegel.de. This one's courtesy of Roy Stephens and bears the headline "From Lisbon to Vladivostok: Putin Envisions a Russia-EU Free Trade Zone". It's a 2-minute read... and the link is here.  Solvency Crisis in the Banking SystemEric King over at King World News has a short blog posted that features John Williams of shadowstats.com fame. The headline is spot on... "Solvency Crisis in the Banking System". This is, as James Turk has pointed out many times in the past, is not a banking system liquidity problem... it's a banking system solvency problem. That's what John Williams talks about here. The blog is very much worth your time... and the link is here.  Juniors vs. seniors: Secondary gold-mining companies have been trouncing the majorsI have lots of precious metals-related stories for you today. The first item comes from legendary market analyst Mark Hulbert. It's a piece that was posted over at the marketwatch.com website... and is headlined "Juniors vs. seniors: Secondary gold-mining companies have been trouncing the majors". Hulbert comments that despite the cries from many pundits that the gold market has got ahead of itself recently... "if you were avoiding the gold market right now out of concern that it's overheated, you may want to rethink your reticence." Amen to that! I thank reader U.D. for sending me this story... and the link is here.  More gold imports may pressure Vietnam's currency'David in California' provides the next gold-related story. It's a Reuters piece from Hanoi that's posted over at malaysia.news.yahoo.com... and the headline reads "More gold imports may pressure Vietnam's currency". Several months ago, all gold imports into the country were halted, but Vietnam's central bank has granted more quotas to import gold by year-end, in a bid to cool domestic gold prices, as inflation is becoming a serious problem over there. Along with inflation, gold smuggling was on the rise as well. The story doesn't mention what weight of gold is involved, but I'm sure we'll find out as time passes... and the link to the story is here.  Juniors vs. seniors: Secondary gold-mining companies have been trouncing the majors Posted: 25 Nov 2010 08:47 PM PST Image:  I have lots of precious metals-related stories for you today. | ||
| China and Russia Drop the Dollar in Bilateral Trade Posted: 25 Nov 2010 08:47 PM PST Image:  On an entirely different topic, the next offering for you today is this GATA release from yesterday which Chris Powell headlined "China and Russia Drop the Dollar in Bilateral Trade". It's an item posted yesterday over at the chinadaily.com.cn website... and the link is here. | ||
| Interview with Theodore Butler Posted: 25 Nov 2010 08:47 PM PST Image:  Lastly today, silver analyst Ted Butler has another commentary published in the public domain... and I'm just going to steal Chris Powell's preamble from his GATA dispatch late on Wednesday. "James Cook, proprietor of Investment Rarities, has done a comprehensive interview about silver market manipulation with the dean of silver market analysts, Ted Butler, whose long campaign against the manipulation has begun to bear fruit. The interview has been posted over at silverseek.com... | ||
| Silver: The Best Commodity Investment in a Stimulus-Driven Slow Recovery Posted: 25 Nov 2010 07:19 PM PST Irfan Chaudhry submits: Precious metals outperformed most asset classes over a 3, 5 and 10 year period. Silver was a little late to the party. Silver is a business cycle sensitive investment against gold, which is a fear / value / wealth trade. Silver fell to its lowest level relative to gold in early 2009 as the silver price went as low as $8.92, which was 84th of an ounce of gold. However, as the business cycle turned, it became one of the best performing assets in 2010. This outperformance looks set to continue in 2011 due to the very bullish fundamentals. Many silver price predictions are quite aggressive as insiders forecast silver prices to range from US$30 to US$50 / ounce in 2011. The facts and fundamentals which drove silver prices from US$4 / ounce to the current price of US$27 / ounce remain in place. The question is, will silver rival or surpass that of the 1970s inflation adjusted price? Silver is a commodity which lies between gold and oil in term of industrial / consumer demand and investment demand. This very fact makes silver fundamentally most attractive in a slow recovery amidst lingering risks. Silver is still sitting in the early stage of a bull market that will benefit from any further stimulus driven economic improvement. Silver may have a higher price upside (compared to gold) due to: continuing and increasing global macroeconomic, currency and geopolitical risks; silver's historic role as money and a store of value; the declining and very small supply of silver; significant industrial demand and perhaps most importantly, significant and increasing investment demand. Complete Story » | ||
| the chemistry of why gold is money Posted: 25 Nov 2010 06:44 PM PST | ||
| Update on Hulbert Sentiment Indicator Posted: 25 Nov 2010 05:15 PM PST Quoting the Market Watch piece: Fortunately for the gold market, the HGNSI is not at overheated levels right now. It currently stands at just 40.3%, which means that the average gold timer is allocating 60% of his gold portfolio to cash. That's amazing, given that gold bullion is back to within shouting distance of its all-time high set a couple of months ago. The usual caveats apply, of course. Sentiment is not the only indicator that makes the gold market tick. And even when contrarian analysis is right, it works over the shorter term, not the longer term.
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| Gold – "Buy on Dips" Advised as Irish Crisis Tips "Ugly Contest" from Dollar to Euro Posted: 25 Nov 2010 04:31 PM PST
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| Currency Crisis! So What Happens If The Dollar And The Euro Both Collapse? Posted: 25 Nov 2010 01:02 PM PST 
Up until recently, the idea of a world currency was absolutely unthinkable for most people. In fact, the notion that all of the major nations around the globe would agree to a single currency still seems far-fetched to most analysts. However, if enough "chaos" is produced by a concurrent collapse of the U.S. dollar and the euro, would that be enough to get the major powers around the world to agree to a new financial world order? Let's hope not, but it is getting hard to deny that we are heading for a major currency crisis, and if the U.S. dollar and/or the euro collapse, the world will certainly never be the same afterwards. In case you missed it, China and Russia made a very big announcement the other day. They told the world that instead of using the U.S. dollar to trade with each other, they will now be using their own national currencies. Most Americans don't realize it, but that is a very, very big deal. The fact that the U.S. dollar has been the primary reserve currency of the world for decades has given the United States a tremendous amount of economic power. But now nations are beginning to lose confidence in the U.S. dollar and they are slowly starting to move away from it. When the Federal Reserve announced a new round of quantitative easing in early November, it created a huge backlash from other nations. For decades, many other countries have been heavily investing in dollar-denominated assets, and now they are quite upset that those assets are going to be devalued. Chinese Finance Vice Minister Zhu Guangyao used very strong language in denouncing the Fed's new quantitative easing scheme earlier this month....
German Finance Minister Wolfgang Schäuble was even more blunt. He has called current Federal Reserve policy "clueless", and he says that he is absolutely disgusted with the Federal Reserve at this point....
So where is all of this going? If the Federal Reserve keeps flooding the system with new dollars, the rest of the world could eventually totally reject the U.S. dollar and U.S. Treasuries. If that day ever arrives, the results would be beyond catastrophic as the following short video from the National Inflation Association demonstrates.... But it is not just the U.S. dollar that is in trouble. The euro is in danger as well. Just consider the financial problems that some major European nations are experiencing right now.... *Standard & Poor's has slashed Ireland's credit rating two notches to "A", and is warning that there could be further downgrades. The Irish budget deficit is projected to reach 32 percent of national output this year. Ireland's finances are being called "just one big pyramid scheme", and they recently accepted a huge European bailout. Unfortunately for Ireland, this bailout comes with strings. The Irish government is now being forced to implement an austerity program that is being referred to as "draconian". *Analysts are projecting that Portugal is going to need a bailout of at least 50 billion euros. The government of Portugal has implemented some harsh austerity measures in an attempt to get the red ink under control, and the people are not pleased. On Wednesday, a massive national strike shut down travel and basic services across the country. *Things are so bleak in Portugal right now that Foreign Affairs Minister Luis Amado recently stated that his nation "faces a scenario of exit from the euro zone" if a solution is not found for this financial crisis. *Greece was the first nation to need a European bailout, and now there are rumors that they may need even more assistance. The statistics agency for the EU, Eurostat, recently revealed that Greece's budget deficit for 2009 was actually 15.4% of GDP rather than 13.6% of GDP as originally thought. The Greek national debt is now well over 120 percent of GDP. The financial problems in Greece never seem to stop. *Belgium's debt has reached 100 percent of annual national income, and the cost of insuring that country's debt has now hit record levels. *Even Spain is in trouble. Rates on Spanish 10-year government bonds have risen to frightening heights in recent days, and the official unemployment rate in Spain is hovering around 20 percent. *In a recent article entitled "A Spanish Bailout Would Test Europe's Strained Finances", the New York Times quoted Jordi Galí, the director of the Center for Research in International Economics at Barcelona's Pompeu Fabra University as saying that rumors that Spain is in financial trouble could end up making it a self-fulfilling prophecy....
So could this sovereign debt crisis actually cause the euro to collapse? Well, it depends who you ask. European Financial Stability Fund chief Klaus Regling says that there is "zero" chance that the euro will collapse....
Other European leaders are not so sure about that. EU President Herman Van Rompuy recently warned that if some of the weaker countries in Europe are forced to abandon the euro it will likely cause a total meltdown of the European Union....
German Chancellor Angela Merkel is also warning that a failure of the euro could bring down the entire European Union....
But is this likely to happen any time soon? No, probably not, but in 2010 top European officials are actually acknowledging the possibility, and that shows just how serious things have gotten. So if the U.S. dollar and the euro do collapse, what would happen? Well, already many world leaders are openly speaking of the need for a true global currency. After all, they argue, there won't be any "currency wars" if we are all using the same currency. In fact, the Institute of International Finance, an organization that represents 420 of the biggest banks and financial institutions on the globe, recently declared that the time has come to adopt a one world currency. In fact, as I wrote in an article entitled "Bancor: The Name Of The Global Currency That A Shocking IMF Report Is Proposing", a recent IMF policy paper actually proposed a name for the "global currency" that they believe could be coming....
So will any of this ever come to fruition? Well, it would likely take one whale of a crisis to get the countries of the world to agree to such a thing. However, we do live at a time when the world financial system seems to be perpetually on the edge of chaos. If at some point the U.S. dollar and the euro totally fall apart perhaps we will see a "new order" arise out of all of that chaos. But let's hope not. Once we give any organization the power to issue a global currency the odds of us ever getting our economic sovereignty back will be greatly reduced. The internationalists are going to use any crisis as an opportunity to argue for greater centralization of the world financial system, and it will be very important for the American people not to fall for those arguments. Hopefully the U.S. dollar and the euro can remain stable currencies for at least a little while longer. Because once they collapse things will never, ever be the same again. | ||
| 2010 U.S. silver bullion coin sales already surpasses records Posted: 25 Nov 2010 07:34 AM PST Mineweb | ||
| Could a cartoon be right about gold???? Posted: 25 Nov 2010 06:57 AM PST You guys have to see this its freakin hillarious... http://www.youtube.com/watch?v=0U41nZHhsA8 And So True!!!!!! | ||
| Unlike Gold - Stimulus Is Effective Only Under Certain Circumstances Posted: 25 Nov 2010 01:00 AM PST | ||
| Driving the News Agenda: Jones and Keiser Posted: 25 Nov 2010 12:03 AM PST Hat's off to both Alex Jones and Max Keiser. Together, they've drawn attention to the ongoing paper manipulation of the price of silver. Maybe more importantly, they've likely knocked the lid off of Pandora's Box – exposing the enormity of ALL paper frauds being committed by the Federal Reserve and Wall Street's house of horrors. | ||
| Chinese Central Bank On High Alert Inflation Alert Posted: 24 Nov 2010 08:53 PM PST "Here's what spooked Chinese stocks today: New Chinese inflation data comes out this Thursday and already the central bank has warned that it will do whatever it takes to control inflation. China will maintain a high alert for inflation risks and will not leave inflation unchecked, Ma Delun, deputy governor with the People's Bank of China, or the central bank, said Tuesday. The central bank will closely watch the market and carry out open market operations to reach the goals set for the currency policies, Ma said at a forum held in Beijing. This is why traders are freaked out about another surprise interest rate hike." Is An (USA) ATM Cash Shortage Coming?" Some potentially troubling news out of ATM land: "I work with a business partner in the (region redacted) . We have combined between us 180 ATM machines that we service, and cash load. In order to do this we NEED to order the money, $20′s only from several banks on a weekly basis. This is a considerable amount weekly; $380,000 plus. Here is the interesting note that is developing: In the past several weeks four of the MAJOR banks have informed us that they can no longer provide us with the cash for our business." -Tyler Durden 11/08/2010 I don't know how my readers feel about this statement, but this is setting-off alarm bells I cannot believe. We can understand shortages of silver or gold coins but $20 bills? What is going on here? So what have we learned in 2,065 years? Evidently nothing! -From Martyz54@aol.com "The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance." -Cicero-55 BC         This posting includes an audio/video/photo media file: Download Now | ||
| Posted: 24 Nov 2010 06:47 PM PST | ||
| Posted: 24 Nov 2010 04:30 PM PST
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| Holiday Squeeze on the Dollar, Gold and Stocks Posted: 24 Nov 2010 04:30 PM PST
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