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Sunday, March 6, 2011

Gold World News Flash

Gold World News Flash

2010 Gold Demand and Supply Figures and Market Changes

Posted: 06 Mar 2011 01:00 PM PST

So just how much gold central banks will buy in the open market is difficult to project. All we can say is that taking the amount over the IMF total of 403.3 tonnes plus the amount the IMF sold in the open market [181.3 tonnes plus 87.2 tonnes] we have a figure of the amount central banks bought in the open market in 2010 of 268.5 tonnes, told us that, that was their appetite for gold last year. We expect that appetite to grow in 2011. This amount of even 268 tonnes would now have to come from the open market in London.


International Forecaster March 2011 (#2) - Gold, Silver, Economy + More

Posted: 06 Mar 2011 05:00 AM PST

The Federal Reserve tells us we need inflation to overcome the overhang created by debt and its inflationary aspects. The inflation does not create jobs – it just distorts prices upward. We are told by the head of the Fed, Mr. Bernanke, that he can end inflation when he thinks it is necessary. That is not true, because if inflation ends deflation takes command and the economy collapses. There is no finely honed instrument for turning these two opposite effects on and off; thus, inflationary instruments have to be blunt and overused.


Pivotal Events: Signs of the Times

Posted: 06 Mar 2011 03:05 AM PST

Regulators seem innocent of knowledge about financial regulations and financial crises. It is runaway speculation that causes panics, and when a mania erupts there is no way of curbing it. Even when the senior currency was convertible into gold there were huge bubbles and consequent collapses. As a prominent banker in the mid-1800s observed, "No warning can save a people determined to suddenly grow rich."


“Even today, after a solid decade of higher prices, the great majority of Americans own not a single ounce of gold.”

Posted: 05 Mar 2011 06:41 PM PST

Richard Russell – Gold to $6,000 as Media Ridicules Share this:


Investing in Silver Instead of Toilet Paper Currencies

Posted: 05 Mar 2011 06:06 PM PST

I was intrigued by an essay titled "What You Need to Know About Buying Silver Today"' which came as the result of Jeff Clark, of Big Gold, being interviewed by The Daily Crux. Of course, Mr. Clark knows all the reasons to buy silver, and deftly ticks them off, one after another, as I would do if they ever asked me, instead of everyone always rudely shouting at me, "Hey! You can't come in here!" and "Don't eat that!" and, "Stop yelling at me to buy gold, silver and oil stocks as protection against the suicidal lunacy of the Federal Reserve creating so much money!"


Heavy Hitters Talk About The Virtues of Gold

Posted: 05 Mar 2011 06:01 PM PST

It was a strong week for the precious metals especially Silver. We had a few large players in the world talk about Gold and the coming further weakness of the US Dollar and it's lessening role throughout the world.


[1192] The Truth About Gussy's Silver & ResonanceFM's Fundraising Drive

Posted: 05 Mar 2011 10:36 AM PST

Stacy Summary: Recorded from our hotel room in Cairo, we discuss the UK economy and Gussy's hoard of silver. Download show here For more download and listening options, visit Archive dot org To donate to ResonanceFM, visit here Share this:


This posting includes an audio/video/photo media file: Download Now

US Bonds no Safe Haven compared to Gold

Posted: 05 Mar 2011 09:12 AM PST

One of the things about deeply ingrained responses is that they take years to form. In the case of bonds, it has been going on for decades when it comes to them being regarded as a safe haven during times of political unrest, market turmoil or even natural phenomenons. It goes something like this - geopolitical developments makes investors nervous about prospects for growth so money flows out of stocks and into bonds as it looks for a temporary haven in which to ride out the winds of adversity. Such moves by investors/traders become so reflexive, that they tend to occur with very little serious thought actually being given to the movement of funds. The idea is, move first, think second; after all, you don't want to be the last guy left holding the bag when the dust settles. I do think however that this perception is changing and I might add, as taken a severe hit ever since the inception of Quantitative Easing. Note the following ratio chart to see how poorly bonds have been perfor...


Dwindling Comex Silver Bullion, But Where Is the Gold Coming From?

Posted: 05 Mar 2011 08:19 AM PST

I wonder how much of this silver being sold is leased out from unallocated accounts and holdings in ETFs. How unfortunate for the silver shorts that the bankers lack a ready supply of bullion from the central banks. Most national stores of silver in the west have already been depleted.


Will the U.S. Dollar or Euro Collapse and Cause Financial Armageddon?

Posted: 05 Mar 2011 07:20 AM PST

What event could trigger an unstoppable domino affect leading to a financial meltdown? You may*think [that such a possibility is extremly unlikely]*but daily we move closer to the real possibility that a major fiat currency such as the US Dollar or the Euro could collapse in the blink of an eye. [Let's take a look at why and how such an event could unfold.] Words: 499 So*says*the editor of*[url]www.goldcoin.org*[/url]in*an article* which*Lorimer Wilson, editor of www.munKNEE.com,* has reformatted and edited [...]* further for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.*The article*goes*on to say: Mounting economic pressures mean that eventually something will have to give. [Take a look at what is happening:] [LIST] [*]Inflation is rising [*]Oil prices are rising [*]Debt is unresolved [*]Property prices are falling [*]Unemployment is rising [*]The cost of li...


“Question of the Month” Winners for February

Posted: 05 Mar 2011 06:38 AM PST

And now we draw to the close of our "Question of the Month" contest, sponsored by our good friends at SilverGoldBull.com.

This time it was Chad's turn to pick the winners, and members gave him a tough task. Not only were there many more challenging questions directed our way, but the discussions spawned by those questions gave Chad an additional variable to consider..

We're wrapping-up this contest (for the present), and as of yet we don't have any new promotions lined up to replace it. However, we're already working on a couple of ideas, and hope to have something new to present to our members in a couple of weeks. For SilverGoldBull, they also have to get ready to hand out the gold – to the winners of our "Miners Challenge", when that concludes at the end of this month.

So between that gold, the silver which they have already given out, and all the gold and silver disappearing "the old-fashioned way" (i.e. people buying it) it could be that their "shelves" are starting to get a little bare.

As usual, the monthly winners will receive prizes as follows:

1st prize: (3) 1-oz silver coins + one of our stylish, Bullion Bulls golf-shirts

2nd prize: (1) 1-oz silver coin + a Bullion Bulls shirt

3rd prize: (1) 1-oz silver coin

Without further ado, here are Chad's winners (for those not selected, please direct all "hate mail" to: chadillac@bullionbullscanada.com):

1st prize:  Switzer

2nd prize: Woodbridge

3rd prize:  GoldenEconomizer

Switzer: " Assuming that you are well positioned in gold and silver so that in a scenario of dollar devaluation you can still preserve much of your way of life, would you then invest your "excess" bullion to try and create value within family, friends, community, business and economy, politics, spirituality, etc?

If so, what would you do and when would you start? (e.g. start an informative forum, community food security, real estate, create some jobs, finance projects, develop some tech... ). If not, at what threshold do you think owning more physical bullion will become negligible or even a burden?"

As readers can see, this is a question which would have challenged the intellect of a "Socrates". With no "ancient Greeks" anywhere in sight, however, it was left to us lesser mortals to offer what insights we could. Our resident "Mining Specialist" Brian Boutilier was the first to offer a few thoughts.

Brian: A thought provoking question. For my answer, I will first have to rephrase it to fit my perspective. I am not an excessive person. How to invest bullion, that is not venture capital? I don't.

Bullion isn't going to be on the table. I will bring good manners and intentions. I will bring humor. Sometimes I will only bring the intention of listening actively. I will invest myself, my presence, my good intent when involved in family and community. I will reach out spirituality and lovingly, and offer what resonates with my personality, gifts and talents. I don't feel burdened to expend capital, but [rather] spend time and effort. In doing so, some resources may be used. If I have balanced my budget, then this is joyful and not a burden. The capital is certainly not the focus. What I put forth will assist in the overall scheme of things, and quite often requires little money.

Then it was my turn to build on that…

Jeff: More generally, there are two rough scenarios we could be looking at. In one scenario, our economies remain more-or-less "functional". That is whatever paper currency we are using won't have been rendered totally worthless, and thus commerce can continue - albeit in a highly-stressed form.

In that scenario, you can easily employ bullion. It's hard to know precisely what you mean by "excess bullion", but I'm presuming we're speaking of an accumulation which would categorize you as "wealthy". Thus in addition to simple philanthropy, there are various ways in which such "excess bullion" could benefit the community through enterprise.


Interviews with Douglas, Haynes, Norcini, Davies, and Turk

Posted: 05 Mar 2011 05:13 AM PST

1:10p ET Saturday, March 5, 2011

Dear Friend of GATA and Gold (and Silver):

No need to go to the movies today. Fresh interviews with some of your friends have been posted.

GATA board member Adrian Douglas is interviewed in two parts at Future Money Trends here:

http://www.futuremoneytrends.com/Trend_Videos.html

The weekly precious metals market review at King World News, featuring Bill Haynes of CMI Gold and Silver and JSMineSet.com market analyst Dan Norcini, can be found here:

http://tinyurl.com/4j5u7vk

Hinde Capital's Ben Davies is interviewed by King World News about the oil, currency, and gold and silver markets here:

http://tinyurl.com/4pfdwqy

And GoldMoney founder and GATA consultant James Turk tells King World News that a sharp drop in the dollar seems immiment. You can find that interview here:

http://tinyurl.com/4rwsmzh

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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Prophecy Resource Spins Off Platinum/Palladium Venture:
World-Class PGM Deposit in Yukon

Company Press Release, January 18, 2011

VANCOUVER, British Columbia -- Prophecy Resource Corp. (TSX-V:PCY)and Pacific Coast Nickel Corp. announce that they have agreed that PCNC will acquire Prophecy's Nickel PGM projects by issuing common shares to Prophecy.

PCNC will acquire the Wellgreen PGM Ni-Cu and Lynn Lake nickel projects in the Yukon Territory and Manitoba respectively by issuing up to 550 million common shares of PCNC to Prophecy. PCNC has 55.7 million shares outstanding.

Following the transaction:

-- Prophecy will own approximately 90 percent of PCNC.

-- PCNC will consolidate its share capital on a 10 old for one new basis.

-- Prophecy will change its name to Prophecy Coal Corp. and PCNC will be renamed Prophecy Platinum Corp.

-- Prophecy intends to distribute half of its PCNC shares to shareholders pro-rata in accordance with their holdings.

Based on the closing price of the common shares of PCNC on January 17, $0.195 per share, the gross value of the transaction is $107,250,000.

For the complete announcement, please visit:

http://prophecyresource.com/news_2011_jan18.php


Support GATA by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon:

http://www.goldrush21.com/

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

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To contribute to GATA, please visit:

http://www.gata.org/node/16


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Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit, Extending the Mineralization of the Southwest Vein on the Property

Company Press Release, October 27, 2010

VANCOUVER, British Columbia -- Sona Resources Corp. reports on five drillling holes in the third round of assay results from the recently completed drill program at its 100 percent-owned Elizabeth Gold Deposit Property in the Lillooet Mining District of southern British Columbia. Highlights from the diamond drilling include:

-- Hole E10-66 intersected 17.4g gold/ton over 1.54 metres.

-- Hole E10-67 intersected 96.4g gold/ton over 2.5 metres, including one assay interval of 383g of gold/ton over 0.5 metres.

-- Hole E10-69 intersected 85.4g gold/ton over 4.03 metres, including one assay interval of 230g gold/ton over 1 metre.

Four drill holes, E10-66 to E10-69, targeted the southwestern end of the Southwest Vein, and three of the holes have expanded the mineralized zone in that direction. The Southwest Vein gold mineralization has now been intersected over a strike length of 325 metres, with the deepest hole drilled less than 200 metres from surface.

"The assay results from the Southwest Zone quartz vein continue to be extremely positive," says John P. Thompson, Sona's president and CEO. "We are expanding the Southwest Vein, and this high-grade gold mineralization remains wide open down dip and along strike to the southwest."

For the company's full press release, please visit:

http://sonaresources.com/_resources/news/SONA_NR19_2010.pdf

Richard Russell - Gold to $6,000 as Media Ridicules

Posted: 05 Mar 2011 05:00 AM PST

With the advance in gold and silver remaining strong, the Godfather of newsletter writers Richard Russell stated in his latest commentary, "There's something magical, mysterious and rather beautiful about a primary bull market. The bull market in gold has been in effect for over ten years, and the mysterious part of it is the way the American people have both ignored it and damned it."


This posting includes an audio/video/photo media file: Download Now

Trader Dan on King World News Weekly Metals Wrap

Posted: 05 Mar 2011 04:15 AM PST

Click here to listen to my regular weekly radio interview with Eric King of King World News. You can also hear Bill Haynes of CMI Gold and Silver discussing the customer side of the metals market. [URL]http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/3/5_KWN_Weekly_Metals_Wrap.html[/URL]...


“I wonder how much of this silver being sold is leased out from unallocated accounts and holdings in ETFs.”

Posted: 05 Mar 2011 04:02 AM PST

Dwindling Comex Silver Bullion, But Where Is the Gold Coming From? Share this:


“The 200 tonnes in two months figure is MASSIVE”

Posted: 05 Mar 2011 03:58 AM PST

MASSIVE gold demand continues to break records in China Share this:


Unaccounted AGW costs about to slam American corn belt; deniers will pay up along with everyone else. God is long Silver and Gold and He hates Blythe Masters

Posted: 05 Mar 2011 03:53 AM PST

One Of America's Biggest Food Producing Regions Could Soon Be Under Water Share this:


Pivotal Events for Gold, Commodities and Financial Markets

Posted: 05 Mar 2011 03:46 AM PST

"Any investors willing to bet that the commodities boom is running out of steam may need both courage and patience. Major mining companies have wagered more than US$110B on the opposite view." -Financial Post, "Consumer Confidence in U.S. Increases to Three-Month High" -Bloomberg, "U.S. treasury secretary: poor financial regulation in Britain fueled financial crisis." -Telegraph,


Peter Schiff: “Rare circumstances are aligning today that I believe will make silver the true champion of this bull run.”

Posted: 05 Mar 2011 03:34 AM PST

Silver Outweighs Gold MK: When I was in Beirut I met a MKC fan who was very happy with a pick from Schiff a couple of years back; First Majestic Silver. He paid $2.50 for it, it's now trading in the high teens. Share this:


Things

Posted: 05 Mar 2011 03:12 AM PST

The following is automatically syndicated from Grandich's blog. You can view the original post here. Stay up to date on his model portfolio! March 05, 2011 07:00 AM [LIST] [*]Very Brief Market Comments- U.S. Stock Market technical top forming but not there yet to go short - Bonds remain avoid – Gold and silver up through April but may want to take some profits before May, including in some mining shares (stay tuned) – Oil price objective reached now neutral, Natural Gas major bottom being put in. [*]Critical technical alert on terminally ill U.S. Dollar. Weekly broken support but daily still teetering at support. Market oversold so may bounce a little before breaking below support. [*]America’s best days are behind us. [*]Still in love with the Loonie. But since my love affair began when it was under 80 versus it”s sick neighbor to the south, I’ll just hold onto what I already have and sleep tight. [*]While I anticipate there may be moments when wh...


PSY-OPS To Force Gold and Silver Price Down, Profitable Antidotes for Investors

Posted: 05 Mar 2011 03:10 AM PST

“Psychological Operations” “Planned operations to convey selected information and indicators to foreign audiences to influence their emotions, motives, objective reasoning, and ultimately the behavior of foreign governments, organizations, groups, and individuals. The purpose of psychological operations is to induce or reinforce foreign attitudes and behavior favorable to the originator's objectives. Also called PSYOP. See also overt peacetime psychological operations programs; perception management. (emphasis added)


Junior Gold Miners Premium from Social Unrest Spreading Out of Africa and into Americas

Posted: 05 Mar 2011 03:04 AM PST

Sprott Asset Management Senior Portfolio Manager Charles Oliver says the social unrest in the Middle East could lead to a premium for junior companies operating in North and South America. He's even betting on it, saying, "I believe juniors will give you the best long-term outperformance and alpha." He's taken profits on companies with exposure to Africa and moved that cash into others with primary assets in the Americas, where, he says, there is much lower risk. Charles discusses a basket full of those names in this exclusive interview with The Gold Report.


The Sinking Ship that Is the US Economy

Posted: 05 Mar 2011 03:00 AM PST

Poor Mr. Obama. The man who ran on a campaign promise of "change," is striving to achieve his stated goal by implementing a slew of conspicuously "same" policies, one after the other.

Admittedly, your editor doesn't know much about drafting empty campaign promises, but he suspects that two sames don't make a change. We'll see.

When Captain Obama first took over at the helm of The Republic, there were plenty of leaks assailing his once-formidable ship. There was an Iraq-sized hole on the starboard side, an Afghanistan-sized breach port side. Both were taking on water…fast. Up on the quarterdeck weighed a budget deficit that seemed to grow larger every time the vessel sank beneath the wavelengths. And on the main deck, unfunded liabilities piled up, reaching higher even than the poop. Needless to say, it doesn't take a sailor to know what that means.

Now, barely half way through his maiden voyage, Captain Obama sees the ocean cascading in from starboard and port, the quarter deck sinking below the horizon and unfunded liabilities, now towering above the main mast, threatening to capsize the entire vessel.

Meanwhile, down in the galleys, the captain's "best" oarsmen are busy drilling their own holes in the ship's hull.

"States from coast to coast are facing budget shortfalls of a magnitude heretofore unseen, unfathomable, even," your editor observed in a recent reckoning.

"More than 40 states are in the red for a combined budget shortfall of $125 billion for fiscal year 2012. California is the worst, with a $25.4 billion hole to fill, more than seven times Wisconsin's gap. Illinois comes in next with a $15 billion shortfall, followed by Texas with $13.4 billion, New Jersey at $10.5 billion and New York at $9 billion."

It is no surprise then, that talk of mutiny can be heard from bow to stern. Some folks are even beginning to wonder if they will ever see land again.

With so many leaks to plug, trying to determine which state budget hole deserves the biggest finger is a tough call. As far as total debt goes, California and New York remain by far the biggest problems. But when it comes to debt/GDP ratios, Rhode Island and Massachusetts begin to look more ominous. Then there's debt per capita, unfunded liability rankings, projected 2012 budget shortfalls and a slew of other factors to consider.

Your editors have no idea which state will be the first to take a long walk off a short plank…but that won't stop us from taking a few guesses. We've been testing the waters by asking readers to submit their own anecdotal observations of governmental waste in their own state. It's all part of this year's Daily Reckoning Financial Darwin Awards: The State Edition.

In short, we wanted to know which state has taken the most earnest steps toward insolvency during the past year. Which states are nearing financial extinction? Which among them are already walking dead? After carefully considering the nominations, we've (naturally) selected a list of ten finalists.

In alphabetical order, the contenders for this year's Daily Reckoning Financial Darwin Award champion are (drum roll please…):

California, Connecticut, Illinois, Louisiana, Massachusetts, Mississippi, New Jersey, New York, Ohio and Wisconsin.

Five of these tar pit-bound states will be lucky enough to earn a featured spot in next week's Daily Reckonings. We'll begin with fifth place on Monday and count down, through runners-up and special mentions, to the grand champion on Friday.

Meanwhile, if you happen to reside in one of the above states and would like to share with us a comment or two about money-wasting policies and idiocies going on in your own backyard, you can do so here.

Joel Bowman
for The Daily Reckoning

The Sinking Ship that Is the US Economy originally appeared in the Daily Reckoning. The Daily Reckoning has published articles on the impact of quantitative easing, bakken oil, and hyperinflation.

The Hitchhiker’s Guide To Global Commodities 2011

Posted: 05 Mar 2011 02:58 AM PST

Ceapach Donald writes: Metals, food and fuel beat stocks, bonds and the US dollar for a third straight month- the longest winning streak since June 2008. Price rises fundamentally driven by short supplies lifted all soft commodities like the grains, vegetable oils, sugar, cotton and rubber, intensified by investor speculation that violence in the Arab and Muslim world will curb oil supplies…


The Fed Distorts The Economy With Inflation

Posted: 04 Mar 2011 07:00 PM PST

Fed created inflation raises the real value of assets artificially, so that these bad assets appear to be appreciating when in fact they are not, As inflation climbs, unemployment will grow and wages will remain stagnant so that the anointed can continue to accumulate wealth, a future currency backed by gold or silver or both,  jobs, hirings and job cuts, securities transactions that fail, Lehman Bros on a stick in Australia over failing to advise risks on CDOs.
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