Gold World News Flash |
- Quick Andrew Maguire Update . . . Maybe the guy who tried to run him over in London was SLA?
- Could Silver and Gold be the monetary system in a world of political anarchy?
- Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Slightly on the Week
- Time for Gold to Shine? USD Breaks 3-year Trend Line
- Long Term Japanese Yen Chart
- Gold Price Must Break $1425 Resistance
- LGMR: Silver Slips 2.3%, as Real Interest Rates Plunge Amid Japan & Mid-East Turmoil
- Liberty Dollar founder convicted of counterfeiting; U.S. attorney calls him a terrorist
- Bubble, Schmubble! What Gold Bubble?
- Hourly Action In Gold From Trader Dan
- Was market-rigging computer program Goldman's or U.S. government's?
- Gold & Stock Markets: Price & Volume Update
- A Short Case for Gold
- Gold gains as doubts rise over Libya cease-fire
- A Warning Ignored
- Interesting article for your reading. (Prepare to laugh)
- How to Save Yourself from Fed Money Creation
- Silver Is Too Rich vs. Gold
- Animated Radioactive Fallout Forecast
- The US Dollar continues to get No Respect
- Gold Daily and Silver Weekly Charts
- Significant Breakdown in Gold or a Short-term Bottom in Platinum?
- King World News interviews Rule on gold, silver, uranium
- Louis James: Crisis Creates Opportunity with Junior Miners
- COT Gold, Silver and US Dollar Index Report - March 18, 2011
- Ben Davies: We have forgotten what true money is
- Inflation Scorecard: Gold Clubbed by Currencies
- Small Resource Companies Stronger Than Expected
- Gold prices to hit $1,480: Goldman Sachs
| Quick Andrew Maguire Update . . . Maybe the guy who tried to run him over in London was SLA? Posted: 18 Mar 2011 07:32 PM PDT MK: Good video . . . Yea, the guy is real . . . but we are still waiting for his bombshell announcement! Also, let me be clear, any service that piggybacks JP Morgan's illegal Silver shorting raids goes against the mission of the SLA. I was being polite when I said that I don't [...]
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| Could Silver and Gold be the monetary system in a world of political anarchy? Posted: 18 Mar 2011 07:19 PM PDT Share this:
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| Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Slightly on the Week Posted: 18 Mar 2011 04:00 PM PDT Gold rose almost $20 to as high as $1423.83 at the open of trade in New York before it fell back off a bit into the close, but it still ended with a gain of 0.87%. Silver climbed to as high as $35.405 before it also fell back off, but it still ended with a gain of 2.25%.
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| Time for Gold to Shine? USD Breaks 3-year Trend Line Posted: 18 Mar 2011 04:00 PM PDT The US Dollar just broke through a three year support line and is showing major weakness against other currencies. If this is a repeat of the 1970s, be prepared for a further drop and major gains in...
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| Posted: 18 Mar 2011 03:31 PM PDT [url]http://www.traderdannorcini.blogspot.com/[/url] [url]http://www.fortwealth.com/[/url] The following chart is a very long term weekly chart of the Japanese Yen/US Dollar cross chart. Please note that I am using the cross as it is traded at the CME's IMM exchange and not as it is typically quoted on the Forex boards where it is quoted inversely as USD/JY. I personally prefer looking at the cross in this manner because for me it is more intuitive in the sense that if I want to know whether or not the Yen is strenghtening I can look at this chart and see if it is headed higher. When you see the level at which the Yen has been driven, you begin to understand why the BOJ is so concerned about its level and why the G7 agreed to undertake a coordinated intervention to knock it lower. Note also the level at which the Yen was trading in mid 2008 when the carry trade began to unwind in earnest. Since that time the Yen has appreciated against the Dollar by nearly 40%! ...
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| Gold Price Must Break $1425 Resistance Posted: 18 Mar 2011 03:16 PM PDT Gold Price Close Today : 1,415.90 Gold Price Close 11-Mar : 1,421.60 Change : -5.70 or -0.4% Silver Price Close Today : 3506 Silver Price Close 11-Mar : 3593.3 Change : -87.30 or -2.4% Gold Silver Ratio Today : 40.39 Gold Silver Ratio 11-Mar : 39.56 Change : 0.82 or 2.1% Silver Gold Ratio : 0.02476 Silver Gold Ratio 11-Mar : 0.02528 Change : -0.00051 or -2.0% Dow in Gold Dollars : $ 172.88 Dow in Gold Dollars 11-Mar : $ 175.14 Change : $ (2.26) or -1.3% Dow in Gold Ounces : 8.363 Dow in Gold Ounces 11-Mar : 8.472 Change : -0.11 or -1.3% Dow in Silver Ounces : 337.75 Dow in Silver Ounces 11-Mar : 335.19 Change : 2.56 or 0.8% Dow Industrial : 11,841.52 Dow Industrial 11-Mar : 12,044.40 Change : -202.88 or -1.7% S&P 500 : 1,279.20 S&P 500 11-Mar : 1,304.28 Change : -25.08 or -1.9% US Dollar Index : 75.572 US Dollar Index 11-Mar : 76.706 Change : -1.13 or -1.5% Platinum Price Close Today : 1,723.60 Platinum Price Close 11-Mar : 1,781.00 Change : -57.40 or -3.2% Palladium Price Close Today : 730.90 Palladium Price Close 11-Mar : 762.50 Change : -31.60 or -4.1% First, look at the Table of the Week above, and carefully observe the winners and losers. Whatever else happened, at the end of the week the scoreboard shows plus or minus, just that simple. The GOLD PRICE shone today, even climbing over its 20 day moving average ($1,424.40) to finish Comex $11.90 higher at $1,415.90. Closely attend: this was positive and constructive but not dispositive. Gold showed power and friends, but not enough to BREAK resistance at $1,425. Oh, it got CLOSE, as close as $1,423.50, but it didn't BREAK through $1,425. Until that happens, the gold price is merely bouncing off the $1,383 low preparing for another downleg. Now if that does happen -- if the gold price pierces $1,425 and closes sharply higher, heading for the last high at $1,436, and then betters that, well, gold has a rally on its hands. Until we see that, the downtrend in force remains in force. And today's rally only brought the gold price up to touch the downtrend line. On Comex the SILVER PRICE rallied magnificently, up 80c to close at 3506c. Great job, clearing 3500c resistance AND climbing through the 20 DMA (3451c). Great job, but it only climbed to the downtrend line. Needed for a breakout is a close above 3600c confirmed speedily by a close above 3671, the last intraday high. Apparently I confuse folks, because all my writing lately about silver and gold in a corrective downtrend has got them calling asking me if they ought to sell out their bull market position and buy back when they go lower. My answer never varies: "You are about to make the biggest mistake of your financial life." Y'all are not smart enough to sell and buy back lower, and neither am I nor most of the folks you'll ever meet. Some people believe they can consistently predict a market, but they are wrong. Only a very few do it successfully. How many 80 year old retired day traders do you know? Not as many as were forced into retirement because they lost all their capital. The notion of selling now and buying back lower betrays a fundamental misunderstanding of our investment strategy. Investing Rule No. 1 is, "Always align your investments with the primary trend, the trend that will last for 15 or 20 years, whether up or down." Think stocks, 1982 - 2000. Or silver and gold, 1960 - 1980. Or, think stocks since 2000, or silver and gold 1980 - 2001. You will always make more money WAITING than you will ever make TRADING. Our strategy is not to catch every little up and down jiggle, nor even the BIG jiggles, but to cut a long, long piece out of a powerful uptrend that will rise 25 or 30 times its beginning price. You sell out, and here's what will happen. You are just gimcrack sure and certain the market is about to drop. You sell, and it obliges your confidence by rising 30%. Whoops. You just LOST your bull market position, and will either walk away in disgust to miss the rest of the bull market, or you will buy back in having missed that big rise and cost yourself a bundle. On the other hand, say that you sell and it does drop. Will you buy back in when it drops 20%? 30%? 40%? No, no, now you are investing genius now and you just KNOW it will drop 50%, so when it only drops 23%, you miss it and watch it shoot thru the price where you sold it. You have now lost your bull market position, and are sitting on a pile of rapidly depreciating Ben-Bucks. Friends, stop and think what y'all are doing, and don't change horses or strategies in mid-river, especially when it's at flood stage. Y'all made a good decision to invest in silver and gold for the life of the primary uptrend (bull market). You will sell at the top, and in the meantime increase your profits by swapping between silver and gold. That's a workable and profitable plan, and if you stick with that simple goal, you will make bushel-basketfuls of profits. Be patient, keep your eyes on the horizon, sit on your silver and gold. Your strategy is working, and will keep on working. Don't mess with it, cause it's not broken. Right on cue those Nice Government Men from Japan hit the yen market and pushed it down 1.49% today. Or maybe it was just profit-takers scraping some money off the table and into their laps before they drove out to Long Island for their Friday martini. In this case, I'm betting mostly on the NGM. Either way, it didn't help the dollar. Euro gapped -- yes, gapped-- up to prove beyond all controversy that it intends to leave the earth behind, no matter how many bankrupt member nations it needs to lift with it. Closed today 1.4182, up 0.77%. Next stop is the last high at 1.4281. The US DOLLAR INDEX tanked 46.9 basis points (0.6%) today and is trading at 75.572. It's deeply ungentlemanly to say, "I told y'all so," but if y'all were betting on the dollar, y'all deserve it. In one mighty bound -- no, no, bound is UP so let's make that PRATFALL -- the dollar reached the November intraday low of 75.63 and exceeded it. Good work, Bumbling Ben. If the dollar can't hold its perch here -- and it won't -- then twill seek the Dec. 2009 low at 74.23, then go for 70.70 from 2008. Yet I keep telling myself that SOMETIME here the pendulum is due to swing the other way taking the dollar up and silver and gold down. I don't mean on any long-term basis, only on a short-term correction. Yet no such dollar strength has materialized. Shucks, not only has the dollar NOT pulled on its Superman suit, it can't even find a phone booth to change in. Responding to what I wrote yesterday about the guru who keeps misdirecting his listeners into stocks, a friend wrote, "I'm watching as mankind goes from bleeding itself with small, self-inflicted cuts to stabbing itself through its own heart with a Bowie knife." I take no pleasure in responding, "I know what you mean." I've been watching that same tragedy for decades. As Louis Armstrong said, "Some people don't know and you can't tell 'em." It starts with fiat money and central banks and metastasizes to government education and training otherwise intelligent people to depend on "experts" for every decision, robbing them of their dignity and independence. Mercy, why not live off a government check? Why would I want to work? What other value does life hold than money? Why would I want independence? Don't that come with responsibility? Not for me! Yeah, mankind are the best argument I know to prove original sin. But let's get back to markets. STOCKS today resembled a girl who can dance very well in her high school productions, but when she tries out for the Rockettes she's painfully outclassed. For the week it was the same story. At its low the Dow had dropped nearly 500 points from last Friday's close. Today merely carried it a bit above the 50% retracement level. Look at the chart ("$indu" on stockcharts.com). The 20 day moving average (12,066) has turned down and is barrelling toward the 50 DMA (12,015). When the 20 crosses the 50, momentum will be locked downhill. This plunge will likely reach 11,000 before it stops. Today the Dow gained 83.93 to close at 11,858.52. That sounds pretty snappy until you find out that the high was 11,927. Not enough buyers wanted to hang around for prices above 11,900. Dow's last two-and-a-half days were correcting the previous fall. Fun's over now -- time to go back to work falling toward the earth's core. Stocks are still the Eau de skunk in the Great Investment Parfumerie. AMERICAN CULTURAL MILESTONES: On this day in 1961 was born the Poppin' Fresh Pillsbury Dough Boy. On this day in 1986 the US Treasury Department announced that a clear, polyester thread would be woven into bills in an effort to thwart counterfeiters. What effort would be made to thwart the US Treasury in printing mountains of counterfeit "money" was not announced. Y'all enjoy your weekend. Argentums et aurum compared sunt -- -- Silver and gold must be bought. - Franklin Sanders, The Moneychanger © 2011, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com 
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| LGMR: Silver Slips 2.3%, as Real Interest Rates Plunge Amid Japan & Mid-East Turmoil Posted: 18 Mar 2011 02:34 PM PDT London Gold Market Report from Adrian Ash BullionVault Fri 18 Mar., 12:40 EST Gold Reverses Weekly Loss, Silver Slips 2.3%, as Real Interest Rates Plunge Amid Japan & Middle East Turmoil THE PRICE OF GOLD rose above $1418 per ounce late Friday in London, reversing the last of this week's 2.4% drop as crude oil fell and world stock markets rose again after Gaddafi regime in Libya announced an immediate ceasefire, prompted by the United Nations' "no fly zone" agreement overnight. Joint G7 intervention in the forex market by Japan, the US, UK, Germany, France and Italy knocked the Yen down 6.3% from Thursday's new all-time highs of ¥76.25 per Dollar – its fastest fall since the post-Lehmans' chaos of late 2008. Major-economy government bonds slipped back but 10-year US interest rates held at 3.30%. New data on Thursday showed US consumer prices rising 5.50% at an annualized rate in February. "Real interest rates have been dropping like a stone again," ...
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| Liberty Dollar founder convicted of counterfeiting; U.S. attorney calls him a terrorist Posted: 18 Mar 2011 02:14 PM PDT Liberty Dollar Founder Convicted on Federal Charges By David Forbes http://www.mountainx.com/blogwire/2011/liberty_dollar_founder_convicted_... Liberty Dollar founder Bernard von NotHaus was convicted today on federal charges in Statesville. The case has local implications, because Asheville Liberty Dollar head Kevin Innes also faces trial. Innes has asserted that he is innocent of any wrongdoing, and sought local support. The full announcement from the U.S. attorney's office: "Statesville, North Carolina -- Bernard von NotHaus, 67, was convicted today by a federal jury of making, possessing, and selling his own coins, announced Anne M. Tompkins, U.S. attorney for the Western District of North Carolina. "Following an eight-day trial and less than two hours of deliberation, von NotHaus, the founder and monetary architect of a currency known as the Liberty Dollar, was found guilty by a jury in Statesville of making coins resembling and similar to United States coins; of issuing, passing, selling, and possessing Liberty Dollar coins; of issuing and passing Liberty Dollar coins intended for use as current money; and of conspiracy against the United States. "The guilty verdict concluded an investigation that began in 2005 and involved the minting of Liberty Dollar coins with a current value of approximately $7 million. "Joining the U.S. Attorney Anne M. Tompkins in making today's announcement are Edward J. Montooth, acting special agent in Charge of the FBI, Charlotte Division; Russell F. Nelson, special agent in charge of the U.S. Secret Service, Charlotte Division; and Sheriff Van Duncan of the Buncombe County Sheriff's Office. ... Dispatch continues below ... ADVERTISEMENT 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 "According to the evidence introduced during the trial, von NotHaus was the founder of an organization called the National Organization for the Repeal of the Federal Reserve and Internal Revenue Code, commonly known as NORFED and also known as Liberty Services. Von NotHaus was the president of NORFED and the executive director of Liberty Dollar Services Inc. until on or about September 30, 2008. "Von NotHaus designed the Liberty Dollar currency in 1998 and the Liberty coins were marked with the '$,' the words 'dollar,' 'USA,' 'Liberty,' 'Trust in God' (instead of 'In God We Trust') and other features associated with legitimate U.S. coinage. Since 1998, NORFED has been issuing, disseminating, and placing into circulation the Liberty Dollar in all its forms throughout the United States and Puerto Rico. NORFED's purpose was to mix Liberty Dollars into the current money of the United States. NORFED intended for the Liberty Dollar to be used as current money in order to limit reliance on, and to compete with, United States currency. "In coordination with the Department of Justice, on September 14, 2006, the United States Mint issued a press release and warning to American citizens that the Liberty Dollar was 'not legal tender.' The Mint press release and public service announcement stated that the Department of Justice had determined that the use of Liberty Dollars as circulating money was a federal crime. "Article I, Section 8, Clause 5 of the United States Constitution delegates to Congress the power to coin money and to regulate the value thereof. This power was delegated to Congress in order to establish and preserve a uniform standard of value and to insure a singular monetary system for all purchases and debts in the United States, public and private. "Along with the power to coin money, Congress has the concurrent power to restrain the circulation of money which is not issued under its own authority in order to protect and preserve the constitutional currency for the benefit of all citizens of the nation. It is a violation of federal law for individuals, such as von NotHaus, or organizations, such as NORFED, to create private coin or currency systems to compete with the official coinage and currency of the United States. "Von NotHaus, who remains free on bond, faces a sentence of up to 15 years' imprisonment on Count 2 of the indictment and a fine of not more than $250,000. Von NotHaus faces a prison sentence of five years and fines of $250,000 on both Counts 1 and 3. In addition, the United States is seeking the forfeiture of approximately 16,000 pounds of Liberty Dollar coins and precious metals, currently valued at nearly $7 million. "The forfeiture trial, which began before United States District Court Judge Richard Voorhees, will resume on April 4, 2011, in the federal courthouse in Statesville. Judge Voorhees has not yet set a date for the sentencing of von NotHaus. "Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism," U.S. Attorney Tompkins said in announcing the verdict. "While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country," she added. "We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government. "The case was investigated by the FBI, Buncombe County Sheriff's Department and the U.S. Secret Service, in cooperation with and invaluable assistance of the United States Mint. The case was prosecuted by Assistant United States Attorneys Jill Westmoreland Rose and Craig D. Randall and the forfeiture trial is being prosecuted by Assistant U.S. Attorneys Tom Ascik and Ben Bain Creed." * * * Man Convicted of Illegally Minting U.S. Coins From WBTV-TV3, Charlotte, North Carolina http://www.wbtv.com/Global/story.asp?S=14279992 STATESVILLE, North Carolina -- A man was found guilty on Friday of minting his own currency and he could be sentenced up to 15 years in prison. According to the U.S. attorney's office, Bernard von NotHaus, 67, was convicted in Statesville of making, possessing, and selling his own coins. The trial lasted eight days and it took the jury less than two hours to deliberate. NotHaus is the founder and monetary architect of a currency known as "Liberty Dollar." The U.S. attorney's office says the coins were made to resemble United States coins and that the Liberty Dollar coins were intended for use as current money. The investigation began in 2005 and involved the minting of Liberty Dollar coins with a current value of approximately $7 million. Officials say NotHaus was the founder of an organization called the National Organization for the Repeal of the Federal Reserve and Internal Revenue Code, also known as NORFED, and Liberty Services. NotHaus was the president of the organization until about September of 2008. NORFED distributed the Liberty Dollar throughout the United States and Puerto Rico. The U.S. attorney's office said, "NORFED's purpose was to mix Liberty Dollars into the current money of the United States." NotHaus remains free on bond. He faces a sentence of up to 15 years imprisonment on count two of the Indictment and a fine of not more than $250,000. He faces a prison sentence of five years and fines of $250,000 on both counts one and three. In addition, he also has to hand over 16,000 pounds of Liberty Dollar coins and precious metal valued at $7 million. Support GATA by purchasing a colorful GATA T-shirt: 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: 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: To contribute to GATA, please visit: http://www.gata.org/node/16 ADVERTISEMENT Prophecy Resource Spins Off Platinum/Palladium Venture: 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
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| Bubble, Schmubble! What Gold Bubble? Posted: 18 Mar 2011 02:01 PM PDT For the Last Time, Is Gold in a Bubble? While a few mainstream outlets…acknowledge gold's stellar run, most remain skeptical or outright bearish and the blasphemy they purport is that gold is in a bubble. Let's settle it, right now, and shut these naysayers up. What bubble? Words: 670 So*says*Jeff Clark*([url]www.caseyresearch.com[/url])*in*an article* which Lorimer Wilson, editor of www.munKNEE.com, has further 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.)*Clark*goes*on to say: * Current Gold Bull Market Does Not Compare with That of the 1970s The Nasdaq advanced over 1,900% during its bull run gaining 182% in the final year of its peak. Gold returned 10 (and as much as 14) times*[one's] money in the 1970s bull market and surged 80% in four weeks during the blow-off top of January 198...
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| Hourly Action In Gold From Trader Dan Posted: 18 Mar 2011 01:36 PM PDT Dear CIGAs, Click chart to enlarge in PDF format with commentary from Trader Dan Norcini For further market analysis and commentary, please see Trader Dan's website at www.traderdan.net
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| Was market-rigging computer program Goldman's or U.S. government's? Posted: 18 Mar 2011 01:06 PM PDT 9:10p ET Friday, March 18, 2011 Dear Friend of GATA and Gold: As The New York Times reported today in the story appended here, the computer programmer who got caught stealing Goldman Sachs' computer code for market-rigging operations has been sentenced by a federal judge to an astonishing eight years in prison. The most telling detail about the case may be, as the Times reports seemingly without awareness, the speed with which federal agents acted against the code theft. In early June 2009, the Times reports, the programmer copied the code from the Goldman Sachs computer system to a computer system in Germany. On July 2, 2009, the programmer delivered the code to his new employer in Chicago. He was arrested by six FBI agents the following day at the airport in Newark, New Jersey. The investigation was wrapped up within a month, perhaps in less than three weeks. Would the theft of computer programming from any other company (OK, except maybe JPMorgan Chase) be pursued so vigorously by the federal government when Osama bin Laden and dozens of murderers, bank robbers, and rapists remain on the loose? And was the government really obliging Goldman Sachs here, or was it taking care of itself, the market-rigging computer program really being part of a government operation, considered a matter of national security, like another market-rigging operation, the gold price suppression scheme? CHRIS POWELL, Secretary/Treasurer * * * Ex-Goldman Programmer Gets Jail Term of 8 Years for Code Theft By Azam Ahmed http://dealbook.nytimes.com/2011/03/18/ex-goldman-programmer-sentenced-t... A former Goldman Sachs computer programmer convicted of stealing source code from the firm was sentenced on Friday to more than eight years in prison, capping a case that had shone a rare spotlight on the world of lightning-fast computer-driven trading. A federal jury in Manhattan in December found the programmer, Sergey Aleynikov, guilty of stealing proprietary code that places trades using computer algorithms that spot tiny discrepancies in stock prices. Such trading earned Goldman about $300 million in 2009. Before leaving Goldman for a new job at a start-up, Teza Technologies, federal prosecutors had claimed, Mr. Aleynikov secreted the code onto a server in Germany to get around the investment bank's security systems. ADVERTISEMENT The Gold Standard Now: It Can Work Today a dollar is worth 80 percent less than it was 40 years ago, and less than 5 percent of its value a hundred years ago. We deserve a dollar that is as good as gold, a dollar that will hold its value from year to year so we can be financially secure and our economy can generate more and better jobs. For most of America's history, our dollar was literally as good as gold. But on August 15, 1971, our politicians destroyed the link between gold and the dollar. They destroyed the foundations of our economic system. A new Internet site, TheGoldStandardNow.org, provides news and cutting-edge analysis about this most important issue and explains how the gold standard worked in the past and how it can work in the future. Visit us today: http://www.thegoldstandardnow.org/about/137-welcome-newsmax The prison term, while at the low end of federal sentencing guidelines, was four times what probation officials had recommended. Prosecutors had asked for as much as 10 years. Both the defense and the prosecution cited the recent case in Manhattan of Samarth Agrawal, a trader at Societe Generale, who was convicted of stealing proprietary code from its high-frequency trading business. Mr. Agrawal was sentenced in February to three years in prison, less than the government's request. "It is unprecedented for the government to seek a sentence five times as high as probation recommends and for the court to impose a sentence four times as high," said a defense attorney, Kevin H. Marino. Standing before the judge in a navy-blue jail uniform on Friday, Mr. Aleynikov, 41, maintained that what he did was a foolish breach of confidentiality, not a theft meant to benefit his new employer. "I never meant to cause Goldman any harm," the Russian-born Mr. Aleynikov said in a heavy accent. "I am sorry for the burden and emotional impact this trial has caused on my family, and my mother and children." But Judge Denise L. Cote of the Federal District Court in Manhattan likened his crime to "economic espionage." Mr. Aleynikov's conduct, she said, "deserves a significant sentence because the scope of his theft was audacious -- motivated solely by greed, and it was characterized by supreme disloyalty to his employer." "He knew what he was doing would harm Goldman Sachs," the judge said. Mr. Aleynikov came to the United States from Russia in 1990, just before the fall of the Soviet Union. He spoke little English and, according to his lawyer, had just $300 in his pocket and an expertise in computer programming. Goldman paid him $400,000 a year to write code for its high-frequency trading business, making him one of the bank's highest-paid programmers. In 2009 he was recruited by Teza Technologies, which offered to triple his salary. During his last three days before departing Goldman in early June of that year, he secreted large pieces of the code onto a server in Germany, and then deleted some of the evidence to hide what he had done, prosecutors had said. On July 2, 2009, Mr. Aleynikov visited the offices of Teza, bringing with him a computer and storage device that contained some of the Goldman code. The following evening, six agents from the Federal Bureau of Investigation arrested Mr. Aleynikov after he landed at Newark International Airport. Mr. Aleynikov has been in jail since March 2, when the judge revoked his bail. The decision to incarcerate Mr. Aleynikov before his sentencing was prompted by a letter from federal prosecutors, who warned that Mr. Aleynikov had dual citizenship and posed a flight risk. After the sentencing, his lawyer, Mr. Marino, asked the judge if his client could be placed on bail and be allowed to surrender himself when it came time to report to prison. When the prosecution protested, Mr. Marino called their objections "mean-spirited." "OK, I don't think it's mean-spirited," said Judge Cote, who denied the motion but agreed to reconsider at a later date. The judge recommended to the Federal Bureau of Prisons that Mr. Aleynikov be assigned to a federal prison in New Jersey. Before he was taken from the courtroom, Mr. Aleynikov blew kisses to his family in attendance. Support GATA by purchasing a colorful GATA T-shirt: 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: 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: To contribute to GATA, please visit: http://www.gata.org/node/16 ADVERTISEMENT Prophecy Resource Spins Off Platinum/Palladium Venture: 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
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| Gold & Stock Markets: Price & Volume Update Posted: 18 Mar 2011 12:44 PM PDT Super Force Signals A Leading Market Timing Service We Take Every Trade Ourselves Email: [EMAIL="trading@superforcesignals.com"]trading@superforcesignals.com[/EMAIL] [EMAIL="trading@superforce60.com"]trading@superforce60.com[/EMAIL] Morris Hubbartt Weekly Market Update Excerpt, posted Mar 18, 2011 [LIST] [*]Gold and Precious Metals [/LIST] SGOL (Bullion Proxy) 6 Month Chart SGOL 6 Month Chart Analysis [LIST] [*]A gold asset building program should be the centerpiece of your investment showcase. A week ago chart volume projected a correction in price, and it unfolded early this week as gold declined to $1380 on Tuesday. [/LIST] [LIST] [*]I issued a number of fairly aggressive buy signals for gold and related assets into $1380, because although I see price going as low as $1325, this decline is potentially your last buying opportunity before price is out of here, to the upside! [/LIST] [LIST] [*]Gold is a precious metal, meaning there is precious little of it. Y...
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| Posted: 18 Mar 2011 11:09 AM PDT So the noise from the street goes... And the noise is loud... So loud, that in response, mainstream wealth managers are beginning to recommend gold as a "core" holding for their clients. For some clients, financial planners are recommending ...
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| Gold gains as doubts rise over Libya cease-fire Posted: 18 Mar 2011 11:05 AM PDT By Claudia Assis and Polya Lesova … Secretary of State Hillary Clinton told reporters the U.S. is not "impressed by words. We would have to see actions on the ground, and that is not yet at all clear." President Barack Obama later Friday urged Libya's leader, Col. Moammar Gadhafi, to immediately cease fire, or the UN resolution "will be reinforced by military action," although he said there will be no deployment of ground troops to Libya. Gold for April delivery gained $11.90, or 0.9%, to $1,416.10 an ounce on the Comex division of the New York Mercantile Exchange. … On the week, however, gold has lost 0.4%, bedeviled by a 2.3% dip on Tuesday. "The main driver today is Mideast unrest," said Frank Lesh, broker and futures analyst with FuturePath Trading in Chicago. … As investors tried to parse the situation in Libya, they also digested news reports that dozens of protesters were killed in Yemen after police opened fire on demonstrators in the capital city of Sana'a earlier Friday. Earlier this week, anti-government leaders in Bahrain were arrested as Saudi troops were called to control protests in the next-door neighbor. The situation is perhaps more acute in Libya, but the whole Middle East and North Africa is the main focus of concern, Lesh added. … Traders were also following developments in Japan, where workers are trying to restore power to damaged reactors at the Fukushima Daiichi nuclear-power plant. [source]
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| Posted: 18 Mar 2011 10:54 AM PDT by Addison Wiggin - March 18, 2011
The bespectacled and bow tied editor of Grant’s Interest Rate Observer brought a sobering message to Washington, D.C., yesterday: Uncle Sam’s credit card rate is about to get jacked up.
 Click on image to enlarge.
Interest rates will rise. In the early 1980s, then-Fed chair Paul Volcker had to chase them all the way up to 18%... just to raise the money the government needed to keep its doors open. Today, traders don't even have to get spooked to a fraction of that level. If interest rates merely regress to the historic mean, "debt service nearly doubles," says investment banker Lewis Lehrman, who also ventured to the belly of the beast yesterday to testify before Congress. Indeed, using the back of a napkin and projections released by the Treasury Borrowing Advisory Committee on Feb. 1, 2011, we can see that rates on the 10-year Treasury note need only rise from today's 3.27% to 5.3% before the debt service figure jumps from today's $413 billion to $800 billion by 2020. "All of the talk about cutting a hundred billion" this spring would be for naught, says Lehrman. That $100 billion would be consumed four times over just to pay off interest on the debt. (For the record, the $100 billion in question was already debated down to $67 billion on the House floor.) Something has to give. But what? All five of the bigger slices of the pie are considered “untouchable.” >Forget 5% of total budget. With tax revenue running at roughly $2 trillion a year, 40% of the budget would go to debt service. A rise of 2% in interest rates and Uncle Sam would be even broker than he already is... instantly. What will government be able to do then?
 The House Subcommittee on Domestic Monetary Policy has 14 members. In this wide shot of the hearing room, we count no more than four who attended the hearing at which Grant and Lehrman testified. One of them was the chairman of the subcommittee, Dr. Ron Paul, who had extended them the invitation. Granted, members of Congress don't have to be in the chamber to hear debate. If they choose, they can pick it up on closed-circuit TV in their offices. But somehow, we have a hard time imaging 431 members of Congress glued to their screens over a subcommittee hearing on monetary policy. We've heard rumors, too, that Democrats in the House pulled a "Wisconsin" and boycotted the proceeding altogether. The government we deserve, people... the government we deserve.
Woohoo... $56 million. That's 1.24% of the deficit the federal government rang up yesterday alone. Which would be laughable if, in fact, it was being cut... but it's not. It's merely getting yanked from NPR and given to Public Radio International (PRI) and individual stations that produce programming.
“The commission only came into existence in the first place as a payoff to certain ‘gold bugs’ in the Republican Party in those years,” writes Lew Rockwell in the forward to the new edition of a little volume called The Case for Gold. “But it wasn’t created to institute a gold standard. It was created to bury the idea once and for all.” The commission’s chairman — and the establishment’s designated gravedigger — was the new Treasury secretary, Donald Regan, fresh from a 35-year career at Merrill Lynch.  Click on image to enlarge. But Ron Paul, one of the commission’s 17 members, refused to let the burial proceed quietly. He authored a “minority report,” and got one other member — the aforementioned Lewis Lehrman — to sign on. The report was published in book form, under the title The Case for Gold, in 1983… and then was promptly forgotten. Fast-forward 28 more years and the responsibility for keeping the meme alive falls in your hands. In conjunction with the Ludwig von Mises Institute, we're reissuing this “lost” classic... and we want to give it to you for free. Frightening, really — once you crack the tome, you'll see it's more timely now than ever. It forecasts gold as high as $15,000… but reveals why even the steadfast gold investor won’t cheer the day it happens. You can claim a free copy… but only for the next 19 days. Here’s where you can take advantage.
This morning, Libya’s foreign minister declared an immediate cease-fire and an end to all military operations, “to protect civilians.” Crude promptly fell below $101. We’ll see what happens over the weekend. Still, oil remains above $100, because Libya isn’t the only Middle East flash point.
Bahrain sits right between Sunni Saudi Arabia and Shia Iran, and it’s home to the U.S. Fifth Fleet. Earlier this week, Saudi Arabia sent in troops to suppress the demonstrations. “There is growing anger in the Shia community, estimated to number at least 250 million worldwide,” reports Patrick Cockburn in the London Independent, “at the intervention of troops from Saudi Arabia and United Arab Emirates in Bahrain to help repress the Shia majority that has been demanding political and civil rights. “The Gulf monarchies” such as Saudi Arabia “along with Jordan, Egypt and other Sunni Arab states, have always been paranoid about a Shia threat. This paranoia has grown deeper since the Shia majority in Iraq has taken power after the overthrow of Saddam Hussein.” With each passing day, Byron King’s “New War” scenario is becoming front-page news. There’s still time to protect your portfolio before a spark sends oil zooming past $200 a barrel. You can begin your action plan here.
The yen hit an all-time high against the dollar this week in the wake of the earthquake-tsunami-nuclear disaster. So the Federal Reserve, the European Central Bank and Canada’s central bank all proceeded to dump yen overnight. Before that operation began, the yen traded at a little over 79 to the dollar. This morning, it’s nearly 82. This is the first coordinated G-7 intervention in currencies since September 2000, when they stepped in to prop up a sickly euro. Japan’s main stock index, the Nikkei, popped 2.7% today in response. [Ed. Note: That move also means by the time you read this, subscribers of Strategic Currency Trader will have bagged a 200% gain in less than 48 hours. “The Bank of Japan is not likely to let the yen stay at historical strength,” Abe Cofnas wrote in a special alert Wednesday night. To learn more about Abe’s one-of-a-kind recommendations that play out in a week or less, look here.]
There are no economic data for U.S. stock traders to react to today, but it is a quadruple witching day — one of four each year when stock options, stock futures, index options and index futures all expire. Strange things can happen on these days, so we have an eye out.
“From the look of the markets right now," advises Vancouver favorite Rick Rule, the gold sold off earlier this week "got soaked up very, very handily. I suspect you are seeing a continuing pattern of gold going from relatively weak hands to relatively strong hands, which, to me, is very bullish.” The way politics, the markets and the economy are shaping up this year, our investment symposium in Vancouver, July 26-29, 2011, is going to be even more "must-attend" than ever. We haven't even sent out a formal invitation to our Reserve members yet and we're already more than half full. Best to get your seats now. Call Barb Perriello at (800) 926-6575 and let her know Addison said you must have your own seat near the front.
Or maybe it was for being caught taunting protesters.  That appears to be a &ound;10 note he was waving. Judging by TV footage, he was also mouthing “get a job.” The protesters were upset about cuts to the National Health Service. “It was shocking to see people acting in this way when we passed the bank,” a union leader told the Daily Mirror. “If it wasn't for the greed of bankers, the economy wouldn't be in such a mess, and there's a good chance the NHS wouldn't have to be making such devastating cuts.” Oy. We’re no fans of nationalized medicine… and you no doubt caught a whiff of what we think about public unions during the week before we traveled to Colombia... but this Deutsche/Douche banker seems clearly out to lunch... and all too closely aligned with New York Fed chief William Dudley, he of “let them eat iPads” fame. We don’t know where this is all going, but we're confident it will end badly. Best be prepared.
“Over the last decade or so, there have been reports here and there suggesting that boomers, as a group, have very little in the way of retirement savings. This begs the historical question of how the boomers compare with savings rates and amounts of previous generations. "Are the boomers different, or does every aging population cohort face the future with limited resources?”
“When the boomer women looked cute in really short skirts, all women more or less had to wear them, because that was the style available. When they bought their first houses, real estate went up. While they saved for their second houses, real estate stayed flat, but the stock market rose until they bought their McMansions. At that time, taxes on quick real estate turnover were reduced. And so on. “I have predicted for years that we would have big inflation when they entered retirement, because they desire and expect immediate rewards. Getting a lot of interest on their (modest) savings will be to their short-term advantage, and they don't think long term; society has always provided. “My ‘boomer theory of investing’ has served me well.” The 5: We didn’t use the word “boomer” in describing the low level of retirement savings. The survey we cited, indeed, made no distinction among age groups. Still, it's easy to draw the connection. A different survey conducted late last year found 25% of boomers have no retirement savings and 26% have no savings outside a retirement account. What are they counting on? Few of them will collect a defined-benefit pension as their parents did. That leaves Social Security… which went into the red six months ago and will likely never get out of it. It makes our own ideas about retirement income even more urgent. You can explore them here.
"The world is full of idiots. Maybe we should drop a nuke on ourselves in the U.S. for a strong dollar."
“Japan will want to be importing all sorts of stuff to brace up its damaged country. Exports will be considerably less important than imports. As well, Japan holds large amounts of in dollar securities, so it can cash those in for dollars as it chooses. "Japan should seek a strong yen.” The 5: "Should" or "shouldn't"... ministers from all the G-7 nations disagree with you.
“Here in America, we have a similar daily ceremony — the regular 'Changing of the Guard' at Arlington National Cemetery. This too, is an impressive ceremony, as is watching those very special young men who guard the Tomb of the Unknowns. “There are those who would write off these rich ceremonies as being a waste of time and money. They are doing all they can to change our history — we must not let that happen.” Have a good weekend, Addison Wiggin The 5 Min. Forecast P.S.: In recounting the sorry history of the Gold Commission appointed by President Reagan, we recall this passage from the late Robert Novak’s 2007 autobiography. Novak had a curious conversation with the president in 1986: “I asked Reagan: ‘What ever happened to the gold standard? I thought you supported it.’ “‘Well,’ the president began and then paused (a ploy he frequently used to collect his thoughts), ‘I still do support the gold standard, but – ’ At that point, Reagan was interrupted by his chief of staff. ‘Now, Mr. President,’ said Don Regan, ‘we don't want to get bogged down talking about the gold standard.’ “‘You see?’ the president said to me, with palms uplifted in mock futility. ‘They just won't let me have my way.’”For all we know, Mr. Reagan ended up reading The Case for Gold – Ron Paul’s “minority report” of the commission — to pass the time. Why not?  Here Reagan shows how adept he was at putting the first lady to sleep. All he had to do was whip out The Freeman, the monthly journal of the venerable Foundation for Economic Education, et voila... quiet time on the return flight from Washington to Rancho del Cielo in California. You have a chance to read Dr. Paul's “lost” classic… even own a copy free of charge... but now through Wednesday, April 6 only. Details on this one-of-a-kind offer are right here.
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| Interesting article for your reading. (Prepare to laugh) Posted: 18 Mar 2011 10:09 AM PDT Interesting article for your reading. (Prepare to laugh) http://www.smh.com.au/business/buy-iodine-sell-gold-and-forget-the-aussie-20110318-1c005.html?comments=31#comments Whats even funnier than the Author Michael Pasco saying "he has been wrong on gold for 3 years but its still a a Bubble" is the readers comments after the article, 100% of them laughing at him. Really good read for a laugh. Frank SLA (600 [...]
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| How to Save Yourself from Fed Money Creation Posted: 18 Mar 2011 10:00 AM PDT Roger Wiegand of Trader Tracks Newsletter ominously notes that "With no fiat money to spread around and no takers for their specious bonds, bills and other paper, stock and credit markets as we know them now are finished. Then we'll see some real, old-fashioned goods trading, black markets, expanding regional gangs and unbelievable backlash against the instigators. If you thought the 1850-1890 USA era was the Wild West, watch what comes next." Part of "what comes next" he gets from the book When Money Dies by Adam Fergesson, which is that "over 400 politicians were assassinated in the 1920-1921 Austrian-Weimar Germany hyperinflation. This is what happens when things go very desperate," and that "history books tell us, have proven time and time again, this is what lies ahead under these circumstances." He calls it The New Abnormal, which seems perfectly appropriate to me because I know that things are going to get weird from here on out, as the Old Normal is dead, making the Old Abnormal the New Normal, which is just a hint of How Freaking Bizarre (HFB) things are going to get when things are weird enough right now! In fact, to use an analogy, the economy is like a group of overpaid people, milking the government for every dollar and benefit they can get, on a chartered airplane that has been certified as "unsafe," where one minute everybody is having fun, drunk as skunks, laughing and telling dirty jokes, and the next minute the plane is plunging out of the sky, out of fuel, one wing is in flames, the engines are dead, the entire electrical system is kaput, and, worst of all, the beverage cart is completely empty of cold beer and those little bottles of different kinds of tasty liquors. Uh-oh! Naturally, everyone is shouting, "Help! Help! What can we do to save ourselves? Can we save ourselves, like the banks saved themselves, by having the Federal Reserve create enough new money, which increases the misery of the poor by making prices rise, and rise, and rise with every new dollar created by the foul Federal Reserve, so that we can make a huge, huge, HUGE pile of money on the ground to cushion our crash landing, thus saving ourselves?" Well, I admit it's not the best analogy I ever saw, and I anticipate a deluge of hate-mail over it, and I am sorry that I used it, and I only did it because I cannot suppress – Hahaha! – the Laugh Of Mogambo Scorn (LOMS) at any idiots who actually believe in the long-term possibility of a dysfunctional, government-centric economic system, based on a constantly-rising money supply based on a fiat currency and insane levels of fractional-reserve banking, especially one where total local, state and federal government spending has grown to – literally! – half of all spending in the Whole Freaking Country (WFD)! Half! This dismal fact is made possible, remember, only by the evil Federal Reserve creating more and more and more money and credit to finance it all, and thus creating the resultant inflation in prices that literally destroys – piece by piece, bit by bit – those who cannot pay higher prices for food and energy, and more-or-less figuratively destroys everyone else. Except, that is, those who happily own gold and silver, of course, as these wonderful metals have always reigned triumphant over all other investments when things get to this metastasized end-stage, which is the part where the rise in consumer prices goes exponential along with the creation of new money by the Federal Reserve going exponential as the deficit-spending needs of the federal government go, likewise, exponential, and everything gets, predictably, exponentially worse. Well, Mr. Weigand, who has been watching all of this, apparently realized that it was foolish to get into a conversation with a paranoid whack-job like me, and offers that "It appears we are mostly safe until May or June when the 'Sell In May And Go Away' bell rings," which I take to mean that we have a couple of months in which to accumulate as much gold, silver, oil, guns and ammo as we can. And with a nice lead-time like that, what can you say except, "Whee! This investing stuff is easy!" The Mogambo Guru How to Save Yourself from Fed Money Creation originally appeared in the Daily Reckoning. The Daily Reckoning now provides over half a million subscribers with literary economic perspective, global market analysis, and contrarian investment ideas.
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| Posted: 18 Mar 2011 09:52 AM PDT  Richard Shaw (QVM Group) submits: We think silver is too highly priced versus the price of gold. They are both precious metals, but are not driven entirely by the same factors. Silver has more industrial attributes than gold. Therefore, one would expect silver to become more valuable relative to gold in an improving economy, but it seems to have gone outside of historical boundaries. This 20-year monthly chart shows the price ratio of silver to gold, along with the 1-year, 3-year, 5-year and 10-year averages of that ratio (in red in the legend). Click to enlarge Complete Story »
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| Animated Radioactive Fallout Forecast Posted: 18 Mar 2011 09:18 AM PDT
Absent further deterioration at the Fukushima plant over the weekend, the next big shoe to drop will be public reaction when the radioactive fallout hits Tokyo (and other major populated areas). And juging by the latest data available from Central Institute for Meteorology and Geodynamics (ZAMG) in Austria, Tokyo, which so far has been spared by friendly winds, may get its first dose of radiation by the weekend. Below we present the latest animated color-coded data for both Japan and the world, which extrapolates both fallout strength and direction. As ZAMG explains the fallout is, "currently in a critical region, dominated by a westerly flow. On the ground, the wind is relatively weak. There is no precipitation. Soon the wind will blow from the south-east and intensify. On Sunday rain front will arrive from the southwest to the crisis area and lead to some strong precipitation (radioactive rain). Behind the front, northerly winds are forecast, so the situation for the Tokyo area may again be critical. The dispersion calculations show fallout is now mainly transported to the sea. Currently cloud have a southeast direction, which will change to northeast tomorrow (see illustrations). Subsequently, more areas in Japan will be covered by fallout." Japan fallout tracker:
And more importantly for everyone not in Japan, the global fallout tracker:
h/t Credit Trader
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| The US Dollar continues to get No Respect Posted: 18 Mar 2011 09:00 AM PDT [url]http://www.traderdannorcini.blogspot.com/[/url] [url]http://www.fortwealth.com/[/url] The Dollar finished a week during which huge risk trades were initially abandoned and then reinstated only to be unable to benefit in the least by any safe haven movements. Note carefully that the greenback could not even exceed the previous week's peak detailing the weakness inherent in the Dollar at this time. I find this lack of strength stunning considering all the events which transpired to contribute to so much volatility in the markets. "Safe Haven" and "US Dollar" are two phrases that seem to be more akin to Oil and Vinegar than Salt and Pepper. Note that the Dollar experienced this chart weakness due in good part to the massive rally in the Yen this week; however, even after the coordinated G7 intervention against the Yen pushing it well off its best levels against the greenback, the Dollar could not finish the week above a significant chart support level near 76 on the the USDX. The ...
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| Gold Daily and Silver Weekly Charts Posted: 18 Mar 2011 08:31 AM PDT |
| Significant Breakdown in Gold or a Short-term Bottom in Platinum? Posted: 18 Mar 2011 08:10 AM PDT Japan is definitely the talk of interest in capital markets. The economic fallout in the recent days did not lag much behind nature's destructive forces. The financial aftershocks gathered force as investors fled from assets deemed ...
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| King World News interviews Rule on gold, silver, uranium Posted: 18 Mar 2011 07:50 AM PDT 2:40a ET Friday, March 18, 2011 Dear Friend of GATA and Gold: Resource sector broker Rick Rule tells King World News that the gold sold in distress during the turmoil in Japan has been taken quickly by strong hands, that there doesn't seem to be enough silver if delivery of futures contracts is ever demanded, and that the Japanese turmoil may make uranium a great speculative opportunity. You can read excerpts from the interview at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/3/17_Ri... Or try this abbreviated link: CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT 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 Support GATA by purchasing a colorful GATA T-shirt: 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: 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: To contribute to GATA, please visit: http://www.gata.org/node/16 ADVERTISEMENT Prophecy Resource Spins Off Platinum/Palladium Venture: 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
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| Louis James: Crisis Creates Opportunity with Junior Miners Posted: 18 Mar 2011 07:36 AM PDT Source: George Mack of The Gold Report 03/18/2011 Good rocks and good people are the core building blocks of successful junior miners. Casey Research Senior Editor and Mining Strategist Louis James wants to see the mineralization close up and talk to geologists to verify the powerful upside potential that may be in these stocks, which are also vulnerable to staggering corrections. In this exclusive interview with The Gold Report, Louis reveals how to benefit from the combination of geopolitical and domestic uncertainty and growth potential in the ground. The Gold Report: You are a fundamental investor and as such you don't look at macroeconomic trends quite so closely. As you say in one of your reports, you "kick the rocks." But, are you still bullish on gold? Louis James: I don't think those two are necessarily antipodes, nor is there any tension at all between keeping an eye on the big picture while looking for value in a specific opportunity. The one is the context...
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| COT Gold, Silver and US Dollar Index Report - March 18, 2011 Posted: 18 Mar 2011 07:33 AM PDT COT Gold, Silver and US Dollar Index Report - March 18, 2011
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| Ben Davies: We have forgotten what true money is Posted: 18 Mar 2011 07:32 AM PDT 3:30p ET Friday, March 18, 2011 Dear Friend of GATA and Gold: Pervasive government intervention in the economy has distorted markets and prices and even caused people to forget what money is, Hinde Capital CEO Ben Davies writes this week at CNBC. But, he adds, the Internet is helping people remember, and what they remember is yellow and shiny. Davies' commentary is headlined "We Have Forgotten What True Money Is" and you can find it at CNBC here: http://www.cnbc.com/id/42027149 CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT 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 Support GATA by purchasing a colorful GATA T-shirt: 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: 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: To contribute to GATA, please visit: http://www.gata.org/node/16 ADVERTISEMENT Prophecy Resource Spins Off Platinum/Palladium Venture: 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
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| Inflation Scorecard: Gold Clubbed by Currencies Posted: 18 Mar 2011 07:27 AM PDT Hard Assets Investor submits: Real-time Monetary Inflation (last 12 months): 1.4% Bullion ceded ground to reserve currencies this week, most especially the yen. The Japanese currency jumped 6.4 percent higher vs. gold, while the Swiss franc climbed 4.9 percent and the euro gained 2.6 percent. Sterling rose 1.3 percent. This week, the U.S. market focused on reports of sharp price rises at the retail and wholesale levels. The Consumer Price Index climbed 2.1 percent in the past 12 months, while the Producer Price Index for Finished Goods shot up 5.6 percent. Both indexes notched their largest hikes in a year. For other U.S. dollar-denominated assets, monetary inflation moderated:
Complete Story »
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| Small Resource Companies Stronger Than Expected Posted: 18 Mar 2011 06:53 AM PDT HOUSTON – We just about have to take it as a positive sign that many, … no, make that most of our Stink Bids are going un-hit with all the unsettling news the market has had to digest this week. As the saying goes, even a dead cat will bounce if thrown down hard enough and today we are seeing bounces in many markets and in many of the issues we would love to game. Just below is a short-term look at the Canadian Venture Exchange or CDNX as one example. ...
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| Gold prices to hit $1,480: Goldman Sachs Posted: 18 Mar 2011 06:43 AM PDT by Alix Steel The investment bank said in a research report Thursday that it expects gold to rally "towards our 3-month price target of $1,480″ an ounce. Goldman is recommending investors get long on gold by buying the December 2011 futures contract currently trading at $1,426.10 an ounce. … "Gold at current price levels is a compelling trade, not a long term investment," the report said. Goldman also warns gold producers to "begin scaled up hedging of forward production," despite the fact that most major producers like AngloGold Ashanti, Barrick Gold and Kinross Gold raced to de-hedge over the past two years. [source] RS View: One is reminded of the Wizard of Oz who would have those four rubes, "Pay no attention to that man behind the curtain!" By paying no attention to the actual metal this article neatly reveals Goldman Sachs to be nothing more than a duplicitous paper-pusher extraordinaire. Out of one corner of their mouth they instruct gold investors go long (buying via paper contracts) while out of the other corner of their mouth they instruct gold producers to go short (selling via paper contracts). Consider this. The price discovery is still largely driven by the preponderance of the paper gold markets. Therefore, if the paper pushers such as Goldman Sachs can jawbone the balance just right through the power of persuasion, the superficial positions of the counterparties (i.e., the investors and the producers) are thus met by each other's paper obligations. The pricing pressure can thus be kept within a flat range, and the actual gold being produced thus remains largely available to flow to that solid core contingent of investors who are not so easily duped into settling for mere paper contracts. Thus the eternal quality and security of real gold flows to those who would not be played for a fool, meanwhile the rubes in the crowd are essentially just gaming their lives away on a poorly structured gamble that they neither understand nor can afford to lose.
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“These are the good old days with respect to interest costs,” declared James Grant before the House Subcommittee on Domestic Monetary Policy yesterday.
The U.S. Treasury got off easy in fiscal 2010 — forking over $413 billion in interest. That’s less than 5% of the total budget. Click on the Wikipedia pie chart; it’s the brown section on the left.
For every $1 that Uncle Sam spends today, he currently borrows 43 cents. What happens when bond traders start to get spooked about ol’ Sam’s ability to pay it back?
That’s a critical conundrum to consider if you're a lawmaker in Washington, right? You'd think anyway. Too bad no one showed up at the hearing.
In any case, the proceeding was interrupted so few times the members in attendance were able to take part in a floor vote far more vital to the nation's future: they pulled $56 million in federal funds from National Public Radio (NPR).
Farcical, isn't it? As we were saying 
Oil has been on a roller coaster the last 24 hours. It pushed past $103 last night after the U.N. Security Council voted to impose a “no-fly zone” on Col. Gaddafi’s government in Libya, along with approving “all necessary measures” to protect civilians there.
The Sunni monarchy in Bahrain has arrested at least seven leaders of the Shia opposition. Word is they’ll be charged with “inciting murder” for their role in planning the protests that have swept the island nation in recent weeks.
For the first time in over a decade, the G-7 countries are acting as one to intervene in the currency markets. Their aim: to weaken the yen.
The good vibes from Japan spread westward, the Euro Stoxx 50 index rising nearly 1.5% as we write. And the Dow opened up 135 points.
Unlike oil, the precious metals are holding onto gains made last night after the U.N. Security Council’s Libya vote. Gold is pushing $1,420, and silver is back above $35.
From our rapidly growing “let them eat cake” file, we have this item from London: Deutsche Bank has suspended an employee for taunting protesters from his office.
“I was pondering the statistics cited in Wednesday’s 5,” a reader writes, “about the percentage of workers that have less that $25,000 saved for retirement. It seems to me these are ‘point’ statistics that, while fascinating, do not provide much in the way of depth. The distribution of savings by age of workers, for instance, might give insight into the workers’ circumstances and how grim their outlook might be.
“What the boomers want, the boomers have received,” another reader chimes in, “and that has been true since they were little kids. Wonderful new elementary schools were built for them (and later sold as surplus real estate); next, the feds started financing college dorms for the first time.
"It seems that financial markets are built on stupidity," writes another reader, catching on, "A country (Japan) has a large earthquake, tsunami and nuke disaster, so their currency rises in value?
“Your comment that the Japanese want a weak yen because a strong yen hurts their exports seems wrong.
“Byron King was, indeed, honored to be invited to observe the 'Ceremony of the Keys',” writes a World War II veteran. "I enjoyed reading his version of the event. Traditions such as this are what keep history alive.
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