Gold World News Flash |
- Japan Nuclear Plant Conditions Worsening, local media reports
- Gold Seeker Weekly Wrap-Up: Gold and Silver End Mixed on the Week
- Peter King is a disgusting 9/11 cry-baby that needs to get a real job or go after Wall St. terrorists
- Richard Russell: Gold is the Safest Currency
- The Commodity Price Rollercoaster and the CRB Golden Ratio Failure
- A Comeback for Gold-Backed Money?
- Jim Interviewed By King World News
- ” Way back in 2002, my target for silver was $187.50 an ounce.”
- Risk and the Dollar Carry Trade
- The Gold Standard 2.0 is Coming
- Silver COT in Detail
- Why Not a Global Currency?.. Peter King's Terror Hearings Take Over
- All These Indicators Suggest Gold & Silver Fireworks About to Begin
- Japanese, Russian and Indonesian Volcanoes Erupt ... 5 Japanese Nuclear Reactors In Danger ... 1 Is Leaking and May Melt Down Within 24 Hours
- Hell in a Bucket
- Will The Gold Price Post Lower Prices Next Week? A Monday Close Above $1,430 Would Ensure Gold Continue Higher
- The Day of Gold-Plated Public Sector Pensions are Numbered
- Redefining Labor Productivity
- Nuclear Expert: "Fukushima Has 24 Hours To Avoid A Core Meltdown Scenario"
- Coping with price inelasticity of gold
- Silver Commitment of Traders Report looks like it was produced on Fantasy Island
- Gold and Silver Still Dollar Dependent
- The Sprotts Expect Silver to Keep on Sizzling
- Gold Daily and Silver Weekly Charts - In the Silver Pit No One Can Hear You Screaming
- Crude Oil, Gold, and Silver - Important Timing Connection?
- Precious Metals Soaring on Earthquakes, Eurozone Fears and Empty State Treasuries
- Gold settles higher on safe-haven buying
- 4 Hour Silver Chart - update
- From Tsunami Police to the Dodo Derby
| Japan Nuclear Plant Conditions Worsening, local media reports Posted: 11 Mar 2011 06:31 PM PST  Conditions appear to be worsening at a nuclear power plant in Fukushima Prefecture in northeastern Japan, according to local media. The Kyodo news agency reported that the cooling system has failed at three reactors of Fukushima No. 2 nuclear power plant. The coolant water's temperature had reached boiling temperature, the agency reported, citing the power plant's operator, Tokyo Electric Power. The cooling system failure at the No. 2 power plant came after officials were already troubled by the failure of the emergency cooling system at the Fukushima No. 1 plant, which officials feared could cause a meltdown. 
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| Gold Seeker Weekly Wrap-Up: Gold and Silver End Mixed on the Week Posted: 11 Mar 2011 04:00 PM PST Gold rose $6.14 to $1419.04 in Asia before it fell to see a $8.25 loss at $1404.65 in London, but it then rose to a new session high of $1422.65 by midday in New York and ended with a gain of 0.57%. Silver climbed to $35.36 in Asia and fell to $34.04 in London before it also rallied back higher in New York and ended near its late session high of $35.99 with a gain of 1.93%.
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| Posted: 11 Mar 2011 03:55 PM PST MK: Peter King, the guy in D.C. who is hysterically picking on Muslims this week completely misses the point about 9/11. When you aspire to rule the world with the world's reserve currency and a multi-trillion dollar military budget (with hundreds of military bases around the globe), you are gonna get tagged every now and [...]
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| Richard Russell: Gold is the Safest Currency Posted: 11 Mar 2011 02:46 PM PST http://www.caseyresearch.com/editorial.php?page=articles/richard-russell-gold-safest-currency&ppref=TBP207ED0311C
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| The Commodity Price Rollercoaster and the CRB Golden Ratio Failure Posted: 11 Mar 2011 02:45 PM PST Commodity prices have been on a rollercoaster ride as central banks have pumped trillions in liquidity into the global system, trying to prevent a deflationary long wave debt collapse from delivering the economic coup de gras ... Read More...
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| A Comeback for Gold-Backed Money? Posted: 11 Mar 2011 02:44 PM PST http://caseyresearch.com/editorial.php?page=articles/comeback-gold-backed-money&ppref=TBP207ED0311B No one can predict exactly how this will all shake out, but Doug Casey has long said that a return to a gold standard, or some modern equivalent, is almost inevitable. That's because, for the reasons Aristotle outlined 2,000 years ago (it's durable, divisible, consistent, convenient, and has intrinsic value), gold is hands-down the [...]
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| Jim Interviewed By King World News Posted: 11 Mar 2011 02:25 PM PST Dear CIGAs, Eric King of King World News was kind enough to interview me on today's gold market action. Please click the link below to listen to the interview. Click here to listen to today's interview…
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| ” Way back in 2002, my target for silver was $187.50 an ounce.” Posted: 11 Mar 2011 02:16 PM PST The Most Important Silver News in Nearly 30 Years Share this:
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| Risk and the Dollar Carry Trade Posted: 11 Mar 2011 02:06 PM PST Civil war unleashed in Libya, protests turn violent in Saudi Arabia, and deep social unrest throughout much of the Middle East. And today Japan is hit by its worst earthquake in 140 years. Here at home, ugly twin deficit news ... Read More...
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| The Gold Standard 2.0 is Coming Posted: 11 Mar 2011 01:09 PM PST
The world is on its way to a Gold standard again.
This is not mere conjecture or prediction. It’s fact. Utah has already passed a bill allowing Gold and Silver to be used as legal tender. Similarly, Virginia has passed legislation (though the Governor has yet to sign the bill) that would permit the state to mint its own Gold and Silver coins.
You can see this on the international stage as well. China’s Gold demand rose 500% last year. And world central banks became net buyers of Gold for the first time in 2010 as well.
These are of course baby steps. China and all central banks’ reserves are only minimally invested in Gold at this time. However, these changes DO mark the beginning of necessary structural changes to the global monetary system that will eventually culminate in a Gold standard of some kind being adopted again.
It’s not difficult to see why. We’ve been on this insane “paper only” since the early ‘70s. While everyone wants to claim we’ve seen a massive boost in GDP and stocks since that time, the reality is that when you account for inflation, it’s clear that most GDP and stock strength has been a result of inflation, NOT real organic growth.
Indeed, Bill King, Chief Market Strategist M. Ramsey King Securities recently published the following chart comparing REAL GDP (light blue), GDP when you account for inflation (dark blue), and the Dow Jones’ performance (black) over the last 30 years.
What follows is a clear picture that since the mid-70s MOST of the perceived stock gains have come from inflation. You should also note that MOST of the GDP growth we’ve seen since the early ‘70s has been the result of inflation as well (REAL GDP, the light blue line, is MILES below the “claimed” GDP, dark blue line).
What does all of this mean? That the inflationary system in place for the last 30+ years is crumbling, that paper money is going to become more and more worthless, and that we’re going to return to some kind of Gold standard in the coming years.
Prepare Now!
Graham Summers
PS. If you’ve yet to take steps to prepare your portfolio for the coming inflationary disaster, our FREE Special Report, The Inflationary Catastrophe explains not only why inflation is here now, why the Fed is powerless to stop it, and three investments that absolutely EXPLODE as a result of this.
All in all its 14 pages contain a literal treasure trove of information on how to take steps to prepare AND profit from what’s to come. And it’s all 100% FREE.
To pick up your copy today, got to http://www.gainspainscapital.com and click on FREE REPORTS.
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| Posted: 11 Mar 2011 12:51 PM PST [url]http://www.traderdannorcini.blogspot.com/[/url] [url]http://www.fortwealth.com/[/url] Most of the readers are no doubt aware by now that every Friday afternoon the CFTC releases the data known as the Commitment of Traders report (hereafter referred to as COT). That data comprises the positioning of traders from the close of trading on Tuesday the previous week through the close of trading on Tuesday of the current week. The lag is to allow CFTC to gather the data which is provided by the various brokerage firms on reportable traders. In looking over this week's data for silver, and this includes the Disaggregated report for both Futures and Options, I am once again struck with something that has me completely perplexed, namely the apparent lack of substanial buying noted in the report. Let me explain, on Tuesday of last week, the active Silver contract closed at $34.42. Tuesday of this week, it closed at $35.65 after spiking as high as $36.74 on Monday of this week. Taken toget...
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| Why Not a Global Currency?.. Peter King's Terror Hearings Take Over Posted: 11 Mar 2011 12:49 PM PST The Daily Bell Why Not a Global Currency? Friday, March 11, 2011 – by Staff Report Special drawing rights issued by the International Monetary Fund could be used as an international reserve currency, Hu Xiaolian, vice-governor of the People's Bank of China, said Friday. Hu told a symposium organized by the Bank of Paris that volatility in exchange rates among existing reserve currencies – which include the U.S. dollar – affects commodity prices and causes problems for other nations ... Hu said the SDRs have "a potential role to play as an international reserve asset." – Wall Street Journal Dominant Social Theme: The time has come to make a change. The IMF can lead the way to global financial efficiency. Free-Market Analysis: So much of the world's economy is in flux these days. The Middle East suffers from serial color revolutions. In Europe, the euro is faltering because of the Sovereign debt crisis. Despite comforting predictions...
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| All These Indicators Suggest Gold & Silver Fireworks About to Begin Posted: 11 Mar 2011 12:40 PM PST Connor Agrees With Goldrunner:*Gold and Silver*About to Take Off The gold bull is now on the verge of launching the most spectacular up-leg of this 10 year bull market. This spring we should see the final parabolic rally of the massive C-wave advance that began in April `09…[taking gold up a further 15% or so*to approx. $1650, silver up a further 40-45%*to as high as $50 and the HUI up *to somewhere between 800 and 900 (i.e. +40-60%). Let me explain the specifics:] Words: 1216 So*says*Toby Connor*(goldscents.blogspot.com)*in*an article* which Lorimer Wilson, editor of www.munKNEE.com, has edited ([* ]), abridged (…) and*reformatted*below 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.)*Conner*goes*on to say: [B]Gold’s 4-Wave Price Pattern[/B] Gold moves in an ABCD wave pattern, driven not only by the fundamentals of the gold market...
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| Posted: 11 Mar 2011 11:14 AM PST
Volcanoes have reportedly erupted in Japan, Indonesia, and Kamchatka Russia today, presumably due to the massive Japanese earthquake. There have been no reports of damage from the eruptions. In addition, there are problems at three Japanese nuclear power plants. The Fukushima plant is leaking radiation, and a nuclear expert says that things are getting worse, and "Fukushima has 24 hours to avoid a core meltdown scenario". (See Tyler Durden's report). MSNBC reports:
Two other Japanese nuclear reactors are now in trouble as well. Two other Japanese nuclear reactors are now in trouble as well [UPDATE: It is now up to 5 nuclear reactors]. As MSNBC notes:
Good luck to the Japanese scientists bravely trying to avert catastrophe. As MSNBC notes:
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| Posted: 11 Mar 2011 10:53 AM PST by Addison Wiggin - March 10, 2011
00:14 — Sheesh. We leave the country for a few days and all hell breaks loose? "The 8.9 quake in Japan," our resident geologist Byron King tells us, "may be the world's fifth most powerful earthquake in the past 110 years. It may be the most powerful earthquake in Japan in 150 years. "Civilization exists," Byron quotes Will Durant, "by geological consent, subject to change without notice." 00:19 — In part because of the earthquake and ensuring tsunami, stocks are selling off. But the truth is, after an epic run over the last two years, they were due. A couple weeks ago, we noticed the S&P 500 had run up over 100% for only the third time in history. Now it's pulled back 3.5% from its Feb. 18 high. 00:28 — It appears, too, Libya's Col. Gaddafi has made good on his threat to torch the country's oil infrastructure out of spite.
00:45 — The planned "Day of Rage" in Saudi Arabia turned out to be a day of whimpering. A protest, organized on Facebook, has been in the works for weeks. But after police opened fire and wounded three demonstrators yesterday, no one showed up to the Rage. In anticipation of more violence, traders had driven the number of $200 call options on oil to a record. That is, a whole lot of traders believe oil will reach $200 a barrel by May 17. You, however, don't have to play options to make money from the trend. Just follow the steps Byron King outlines in this presentation, and you'll be ready. 01:30 — Bill Gross joined the sell side of our Trade of the Decade today. He cleaned out his Pimco Total Return Fund of US Treasuries paper and loaded up on cash. Given he manages the largest bond fund in the world, we expect to have more company over here soon. "Nearly 70% of the annualized issuance since the beginning of QE II has been purchased by the Fed," Gross wrote in his latest monthly communique. "Who will buy Treasuries when the Fed doesn't?" That's been our question for some time. "What we look for in our Trade of the Decade," we wrote early in 2010, "for the sell side, is something that has just had its best decade ever...something that has been going up for so long people think it will go up forever...something that everyone wants. "What does that describe? Well, the thing that comes closest is US Treasury debt. Yields have been going down (meaning, the price of debt is going up) since 1983. And now, despite a supply that seems to be going off the charts, demand for Treasury bonds, notes and bills has never been stronger. What's more...if our analysis of the US economy is correct...the supply of Treasury debt is going to continue to rocket upward for many years. Deficits of $1 trillion to $2 trillion per year are going to become commonplace. "How long will it be before the market in Treasury debt crashes? How long will it be before hyperinflation...or a debt default...sends investors running for cover? We don't know...but it seems a likely bet that it will happen sometime in the next 10 years." Mr. Gross backtracked a little this morning and said he still believes US T-bills should still carry AAA ratings. But, umn, actions speak louder than words, right? 01:38 — Moody's got around to downgrading Spanish government bonds this week. All of a sudden people are remembering there's a crisis in the Eurozone. The euro fell to a one-week low against the dollar. 01:42 — Meanwhile in the currency markets, readers of our newest publication, Strategic Currency Trader, had the chance to score a 98% gain this week by playing the Canadian dollar. Abe Cofnas, our currency expert who literally wrote the book on Forex trading, recommended readers buy the play on Monday. He followed up with a profit taking alert today. If you'd like to turn the currency analysis you read here in The 5 into the chance for actual profits, we suggest you take a look right here. Act quickly and you'll have the chance to claim a charter member discount. 00:00 — Wisconsin governor Scott Walker is about to sign legislation stripping public-employee unions of their collective bargaining authority. Despite Michael Moore's promise to stand and fight. Republicans in the state Senate used a legislative maneuver to push the bill through this week, even though Democrats fled the state to prevent a quorum. Ho hum. 01:58 — A few of other "signs of the times" we seem to have missed this week...
02:13 — And finally, the results are in from a monumental study of how the stock markets and the GDP of nations are influenced by... phases of the moon. The January issue of the Journal of Empirical Finance features this article by Dr. Stephen Keef of Victoria University in New Zealand: "Are investors moonstruck? Further international evidence on lunar phases and stock returns." Keef examined potential influences of both the new moon and the full moon on 62 stock markets around the world between 1998-2008.
Glad we got that straightened out. 02:30 — Here in Colombia we're continuing our tour of this young and growing emerging market. The country has a lot of catching up to do -- and that we believe is the core of the investment opportunity here. "On Thursday," Chris Mayer reported back to Capital & Crisis readers this morning, "we visited Cementos Argos, the largest cement company in Colombia, with a 51% market share. It is an asset-rich company. In addition to its cement operations, Argos owns a huge land bank of 5,000 hectares and a portfolio with stakes in three other listed Colombian companies worth $3.3 billion and 600 million tons of coal reserves. "Argos has a huge opportunity in Colombia. As is often the case when a boom arrives, the building of the infrastructure to support the boom comes later. "Colombia is way behind in infrastructure. It needs miles and miles of roads. It needs bigger ports, expanded airports and railroads. This has been a recurring theme on our trip, something we heard everyone mention. 02:48 — "Colombia consumes about 220 kilograms of cement per capita annually, compared to 500 kilograms for Vietnam," Mayer continues. "In this respect, Colombia is well below the consumption rates of comparable developing economies. There is lots of room to grow. "We've reviewed new road projects, such as Ruta del Sol, which will connect Bogota, the capital in the Andes, with Santa Marta, a port city on the Caribbean Sea. We talked about the Cartagena Refinery expansion. Both are huge projects as big as the Panama Canal expansion a few hours to the north. There is also a tunnel project that will connect Bogota to the Pacific port at Buenaventura. There are projects for hydropower plants, bus systems, pipelines and much more." 03:13 — One thing we've agreed: infrastructure has been one of the surprises of the trip. "We had heard and read," Chris sums up the point, "about the relative lack of good infrastructure in Colombia. But it is another thing to be down here and see it firsthand. "Traffic in Bogota is impossible -- or nearly so. The roads are choked with small cars that go nowhere fast. It seems to take forever to go even short distances. One of our contacts here told us that Colombia has only 300 kilometers of two-lane two-way roads." During our meeting with Ministry of Finance, we were told the government has identified infrastructure as one of 5 key "locomotives" -- alongside housing, oil and mining, innovation and agriculture -- that will pull the country along for the immediate future. There is a lot of money being thrown at these projects now... and we suspect that will continue for the next 5-7 years at least. 03:29 — Property prices in Bogota have skyrocketed because of an influx of wealthy Venezuelans escaping the "reforms" of their beloved president Hugo Chavez. If you want to move into an apartment in the swanky part of the Bogota it will now set you back $3500 a month for a 150 square meter apartment. 03:39 — "We've been enjoying your comments on Colombia," writes a reader. "My wife and I lived in Cali 1963 to 1966, arriving the day after Kennedy was assassinated. No drugs back then, but gangs of 'banditos' roamed the countryside making driving outside the city limits extremely dangerous. "Before getting too excited about the strength of the 1900:1 Colombian Peso, I remember it was a low 10:1 when we first touched down and when we left 3 years later it was 20:1. Our first experience of what currency devaluation is all about." "To focus in on what is the real Colombian Peso risk compare the 1963 peso gold ratio of 350:1 versus the 2,700,000:1 it takes to buy an ounce of gold today. Just imagine what might take place when "broke Uncle Sam" has to stop shoveling out its foreign aid." The 5: More on Colombia, next week, if you can stomach it. 04:05 — "It has that stink of old chicken parts in the trash," says a reader reacting to Bank of America's move to create a "bad bank" to house all its rotting mortgage paper. "This is the epitome of why the Fed was created. I am sure the general public or 97 percent of us don't get it. It is legalized theft. And what is really strange is that it is so transparent. The 5: Indeed. 05:00 — "Man you get them excited, don't you?" says the entire content of one e-mail in our inbox. We presume that's a reference to other readers' reaction to the Michael Moore speech in Wisconsin. Can't be anything about Charlie Sheen, since we've been studiously ignoring his public meltdown this week along with most everything else. "I saw Mr. Moore at a rally at the University of Cincinnati a few years ago," writes another reader. "He reminded me of the type of socialist that my mother had witnessed in Germany during the mid to late 1930s. By 1940 it was too late. They used to be called... Nazis! The route that the USA is taking has me recalling more and more the history of my family and why we moved from one country to another in order to escape. I do not want to repeat this again, however it is becoming more likely that I shall." We've been kicking around this very idea as theme for the Agora Financial Investment Symposium July 26-29, 2011 in Vancouver, B.C. "Fight or Flight: Capital At Risk!" come to Vancouver to join the discussion... call Barb Periello at (800) 926-6575 or (561) 243-2460 right now and claim your early bird discount. That would also be a good place for us to grab that beer, eh? Have a good weekend, Addison Wiggin P.S. You'll have to forgive us for any misspellings in today's 5. We penned pieces of the issue in a zooming car, at a restaurant, and during our meeting in a textile plant. Never fear, however, we'll be back in mistake-free mode on Monday. P.P.S. We're not sure if there's a connection but in the last 48 hours we've seen scads of display ads on the Internet for the world's most useless electronic accessory. It was just about 48 hours ago when Dan Amoss released an updated research report on the company that makes this accessory why it's set to crash no later than next Tuesday and how you can use this knowledge to make three times your money. Don't miss out. Check it out right here. |
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