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- Freeport-McMoRan: Earnings Preview
- Global Silver Market at a Tipping Point?
- Extorre Gold Mines Limited: New High Grade Gold-Silver Discovery at Cerro Moro
- Housing: Waiting for the Rebound
- The University of Texas Transfers $1bn of its Endowment into Gold Bars
- Why Gold Stocks are Struggling Despite Record Gold Price
- Gold to Re-Enter World Monetary System
- $1,000 OUNCE SILVER IS CONSERVATIVE : Bix Weir
- Gold-Shortage Threat Drives Texas Schools Hoarding 664,000 Ounces at HSBC
- 78 Trillion Dollar Derivatives Book Compliments of J.P. Morgan Chase
- The Euro – A Tale of Two Extremes
- Gold’s Safe Haven Status Confirmed as "Risk Free" Status of US Sovereign Debt Questioned
- Gold Hits New Dollar & Sterling Records
- Gold and Silvers Daily Review for April 18th, 2011
- Seeds of Their Own Destruction
- Why you should ignore this popular financial advice
- Marc Faber: The U.S. dollar is headed to "zero"
- Richard Russell: "Surging gold tells the world that something is terribly wrong"
- If you own gold or silver stocks, this analysis could surprise you
- Devaluation of the Words on the Dollar Bill
- Gold, Bolivia and The Law
- Major Market Update
- $5,000 Gold and $300 Silver are Credible Numbers
- Texas University’s $1 Billion in Gold Bars
- Be Your Own Central Bank; Own Gold, Silver: Marc Faber
| Freeport-McMoRan: Earnings Preview Posted: 19 Apr 2011 05:16 AM PDT Zacks.com submits: Metals and mining powerhouse Freeport-McMoRan Copper & Gold Inc. (FCX) announced that it would release its results for the first quarter of 2011 before the market opens on April 20, 2011. FCX earned a profit of $3.25 per share in the fourth quarter of 2010, outshining the Zacks Consensus Estimate of $2.87 per share. In the upcoming quarter Complete Story » |
| Global Silver Market at a Tipping Point? Posted: 19 Apr 2011 05:13 AM PDT Pradeep Kandasamy submits: GFMS (a consultancy specializing in precious metals research) released results of its "World Silver Survey 2011" last week. Going though the presentation puts some serious questions on the explosive rally silver has seen. The summary presentation can be found on the company's website. The biggest takeaway is that 2009 and 2010 had supply for physical silver exceed fabrication demand and the 2011 outlook remains the same. Also, 2008 served as the inflection point before which physical silver demand/supply was in deficit. Find below a brief summary of the demand/supply scenario. Fabrication demand in 2010 still lower than pre-crisis highs of 2008. Fabrication demand includes all uses of physical silver other than investments. Total fabrication demand Complete Story » |
| Extorre Gold Mines Limited: New High Grade Gold-Silver Discovery at Cerro Moro Posted: 19 Apr 2011 05:01 AM PDT Extorre Gold Mines Limited (AMEX:XG; TSX:XG; Frankfurt: E1R– "Extorre" or the "Company") is pleased to announce high grade to bonanza grade gold-silver results from the first 3 of 21 diamond drill holes completed to date on a discovery named Zoe at Cerro Moro, Santa Cruz Province, Argentina. Visual inspection of the core, without the benefit of assays, suggests that drilling has just entered the mineralized zone and that mineralization continues at depth. |
| Housing: Waiting for the Rebound Posted: 19 Apr 2011 05:00 AM PDT Calafia Beach Pundit submits: Housing starts have been bouncing along the bottom for over two years now, after a record-setting collapse from 2005 through 2008. The industry has been in a deep slump that has lasted over 5 years. Residential construction is now only a mere 2% of GDP. If it were going to contract even further, you would think it would have happened by now. I Complete Story » |
| The University of Texas Transfers $1bn of its Endowment into Gold Bars Posted: 19 Apr 2011 04:51 AM PDT At $19.9bn, the University of Texas holds the second largest U.S. academic endowment, Harvard being the number one. The University now took steps to protect these funds against the possible devaluation of the dollar, investing 5% of its endowment into gold bullion. |
| Why Gold Stocks are Struggling Despite Record Gold Price Posted: 19 Apr 2011 04:33 AM PDT
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| Gold to Re-Enter World Monetary System Posted: 19 Apr 2011 04:29 AM PDT Would it be a good move for the gov if they did encourage people to buy gold? Gold to Re-Enter World Monetary System By Richard Russell04/19/2011 Editor's Note: The following is an excerpt of Richard Russell's Dow Theory Letters. For subscription information click here Question -- Will the US government call in the gold, as Roosevelt did in 1933? Answer -- My answer is a rather strange and original one. China, India and most of Asia not only allow its people to hold gold, but actually encourages them to buy and accumulate gold. The US authorities must be keenly aware of this. In other words, these other nations allow their people to protect themselves against currency devaluation and inflation with gold. Holders of gold in the US possess some protection against inflation and dollar devaluation. If the US continues on its current policy of dollar devaluation, the Fed and the administration will receive far fewer objections if its people hold gold or silver. I believe that Bernanke intends to devalue the dollar so that the government can better address its outrageous mountain of debt. Thus, it would not surprise me if somewhere ahead the US government comes out and actually encourages its people to buy and own gold. This may sound far-fetched, but if it happens, that could be the start of a panic in the US to buy gold ("Hey, if the government says it's OK to buy gold, then brother, I'm buying!"). On to the stock market. My PTI has surged higher for two years, but more recently it has been falling. However, my PTI has still not delivered a sell signal. This corresponds to the Lowry's studies, which shows their Buying Power Index, has of late, been declining and their Selling Pressure Index, has of late, been rising. Nevertheless, Buying Power continues bullishly well above Selling Pressure. This suggests to me that the stock market believes that QE3 lies somewhere ahead. Because of the uncertainty, the market has grown "quiet and dull," but an old Wall Street adage, warns us "never to sell a dull market." This being a rather dull market, the history of dull markets is that they do not precede bear markets. Thus, until I receive an actual Dow Theory bear signal or until my PTI turns bearish, I'll conclude that the primary bull trend remains in force. A clearer picture is seen in the precious metals market. The bull market in the precious metals is underscored by the ominous weakness in the Dollar Index. I say "ominous" because the dollar weakness is setting off international demands for a new reserve currency. If the US dollar loses its status as the world's reserve currency, it will be a disaster for the US, which can print "money" in the same currency that its debts are denominated in. If the US has to borrow foreign currency to cover its debts, interest rates will head higher. Once the US mountain of debt is subject to rising interest rates, the game is over, and the compounding cost of carrying the Federal debt will throw the nation into virtual bankruptcy, an emergency that the US can't print itself out of. Below -- the chart that no one wants to look at. It's the Dollar Index, heading inexorable lower, perhaps to test it record low of 70.50. At stake -- the reserve currency status of the "almighty dollar." Already there are plans for a new reserve currency made up perhaps of the euro, the French franc, the renminbi and gold. Russell prediction -- sooner or later (probably sooner) gold will re-enter the world monetary system. The current monetary system based on competing fiat currencies is like a drunken sailor who is unsteady on his feet while trying to adjust the ship's broken compass. usd |
| $1,000 OUNCE SILVER IS CONSERVATIVE : Bix Weir Posted: 19 Apr 2011 03:17 AM PDT |
| Gold-Shortage Threat Drives Texas Schools Hoarding 664,000 Ounces at HSBC Posted: 19 Apr 2011 03:10 AM PDT Bloomberg |
| 78 Trillion Dollar Derivatives Book Compliments of J.P. Morgan Chase Posted: 19 Apr 2011 02:40 AM PDT
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| The Euro – A Tale of Two Extremes Posted: 19 Apr 2011 02:05 AM PDT
We can ask: Where would the euro be trading in a world without the risk of default, and without the risk of a new run on the shadow banking system? Before the crisis, the euro traded over $1.60 in $USD terms – while the Pound traded over $2.10. These levels seem remarkable for the euro and the pound today. But moving into a world where the risk of a shadow banking crisis is low — if that's the world we get — we could easily see these levels and even higher in both the euro and the pound. Still, the "Sovereign Blowup" scenario and the "Sovereign Debt Not a Problem" scenario are both viable outcomes. The euro has been trading between these two extreme situations for the last year. I look at current pricing as roughly the odds of the euro going to $1.20 or $1.60 in USD terms. When the euro is above $1.40, it means the markets are favoring a good solution to the sovereign debt crisis. With a EURUSD below 1.4000, it means the markets are favoring a bad outcome of sovereign defaults across the eurozone.
The euro shrugs off default risk Is one euro worth $1.42? That seems to be the question everyone is asking. Just a few short months ago, the question on everyone's lips was "when would the euro fall to $1.10 with the U.S. Dollar?" It wasn't a question of whether or not the euro would tumble. It was a matter of when the euro would be worth much, much less. It is easy to see why people might think the euro should be worth less than $1.20. There are severe problems inside the eurozone:
These points add up to a powerful argument for a lower euro. But the euro shrugged all this off faster than John Galt became a day laborer for Dagny Taggert. Right now the euro is sitting at 1.4200 despite a massive spike in Greek CDS – and a large increases in default probabilities for Ireland and Portugal. These arguments for a lower euro miss some absolutely essential reasons the euro could have a significantly higher settlement level. If the eurozone does not fall apart completely, we could see much higher levels in the euro. Why sovereign defaults will no longer push the euro to $1.10 There are reasons to think the euro crisis has been fully digested by the market.
These three points are a powerful rejection of the idea that the euro must die if there is a sovereign debt default. We now have had months of knowing the risks; we have a map of the real problems; and it still appears a weak euro could quickly heal many ills. The logical response to eurozone sovereign debt risk The eurozone sovereign debt crisis could blow up at nearly any time. However, this is unlikely to be a problem today for the euro currency, due to logical behavior by investors. The sovereign debt problems of Europe are widely known. The whisper numbers regarding exposure have been plastered on the front page of the Financial Times for months. I doubt there is anyone with significant exposure to Europe who is not fully aware of the problems facing the euro and the huge negative consequences of a sovereign default. Even my dad – who doesn't follow financial markets at all – has told me he thinks the euro won't survive due to countries defaulting. If he knows about euro risks, professional money managers must also know about this risk. Simply put yourself into the shoes of any money manager with a fiduciary duty to your clients and a financial motivation to perform well. Sovereign defaults have been widely reported in the financial press for over a year. It is impossible to credibly claim, "I did not have any reason to believe Ireland might default" at this point in time. To keep your job, you will either reduce exposure to Europe, or have a reasonable hedge in place. We can conclude it is likely that the remaining exposure to the eurozone is in it for the long haul. If someone has exposure to eurozone financial assets, it is because they either want the exposure and have a hedge in place, or are required to have this exposure, or cannot get rid of it even today. As a result, it seems reasonable to think there will be reduced panic selling of assets in a scenario that involves sovereign default. Either hedges are in place, or the holders are committed to "go down with the ship." I ask: How many people have multi-billion-euro exposure to the currency and no plan in place for a series of sovereign defaults starting tomorrow? This number must be low.  Bank stress tests a sham, but also a road map to real problems
For example, the markets are now fully aware of the exposure of the German banks to a sovereign debt writedown. The map of exposures to sovereign defaults doesn't have to be 100% perfect to be very useful to the banking system. It has been common knowledge for at least six months that the German banks have gigantic exposure to the eurozone sovereign debt crisis. A sovereign default by Ireland requires Germany to bailout a rather large portion of their banking system. The German exposure to the PIIGS was known by nearly every participant in the financial markets months and months ago. Presumably, the German government knew the size of this exposure after the ECB went through the stress tests. I ask: Is anyone currently shocked at the size of the German exposure to the problems in Ireland? Very few people do not know about this exposure. Germany extends the crisis to boost economic growth My longtime contention has been that Germany is deliberately stalling on a resolution to the euro crisis because a low euro — or at least a lower euro than what we would see were the crisis resolved — is such a huge boon to their economy. Germany cannot be ignorant of the fact their banking system would be in a shambles in the case of any sovereign default. So why the back and forth on the structure of the bailouts? Why are they making the continued threats they will not pay too much for bailouts that would disproportionately benefit Germany? Apart from homefront political considerations, this behavior only makes sense if they are trying to talk down the value of the euro through a repeated threat of default. Floor price of the euro — $1.10? Germany printed 9% economic growth in the second quarter of 2010 – a shockingly huge burst of economic growth. Much of this growth was due to a booming export market, caused by a EURUSD level below 1.4000. Germany put in one of the most remarkable quarters in its history when the EURUSD was below 1.3000. A huge percentage of it was due to exports – which must have been thanks to the weakness of the euro. The German economy would potentally have growth of over 13% with a EURUSD at 1.1000. The value of the German stock market would skyrocket – in other words, the investment opportunity of a EURUSD at 1.1000 is so compelling that it cannot stay there for very long. Presumably, the EURUSD will sell off prior to the actual default. A selloff to the 1.2000 level makes economic growth so large default becomes almost impossible. The eurozone would be growing too rapidly to worry about defaulting. I consider the 1.1000 level to be the absolute floor of the EURUSD at this point in time. The tremendous economic growth that comes with a EURUSD at 1.1000 would cause international investment in eurozone assets to be equally tremendous. Scenario analysis and the currency markets Perhaps more than any other markets, the currency markets are scenario driven. It pays to have multiple scenarios thought out when trading the currency markets. At any given moment, there will be some dominant scenario running the markets – but this does not mean the other scenarios should be ignored. There is a large amount of political risk in the currency markets. For example, the bailout deal in Europe is largely a political deal, not a financial deal. The outcome of the elections in Finland and Germany had a significant impact on the level of the euro. The final structure of the deal that either solves the euro's major problems (or blows up the euro entirely) will be based on political outcomes as much as economic considerations. So it pays to have scenarios that are flexible enough to account for the changing political situation in Europe. Prior to the economic crisis, the euro traded at much higher levels against the U.S. Dollar. The euro bounced off the lows it made earlier this year and has continued to make steady new gains against the U.S. Dollar. For now, look at the price of the EURUSD as a shifting of preferences between the pre crisis highs of 1.6000, and the floor in the euro of 1.2000. WW |
| Gold’s Safe Haven Status Confirmed as "Risk Free" Status of US Sovereign Debt Questioned Posted: 19 Apr 2011 01:41 AM PDT |
| Gold Hits New Dollar & Sterling Records Posted: 19 Apr 2011 01:37 AM PDT |
| Gold and Silvers Daily Review for April 18th, 2011 Posted: 19 Apr 2011 01:27 AM PDT
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| Seeds of Their Own Destruction Posted: 19 Apr 2011 01:15 AM PDT All those new dollars being created by an apparently-still-panicked Fed are pushing up asset prices across the board (with housing the only exception) and pushing the dollar down to near-record lows versus other currencies. The charts look eerily like a replay of 2007, which, of course, is exactly what policymakers want. Rising asset prices, according to the prevailing logic, will get us spending and borrowing again and return the economy to self-sustaining expansion. 2006 and 2007, for the people running this show, were the good old days... Read |
| Why you should ignore this popular financial advice Posted: 19 Apr 2011 01:11 AM PDT From Sovereign Man: When I woke up this morning and scanned through my usual digest – boots on the ground reports from overseas contacts, market summaries from Asian and European bankers, commentary from friends still in the intelligence community – a couple things caught my eye that I want to tell you about. Dagong Global Credit Rating Co. is China's leading credit rating agency. Credit rating agencies are the firms who are responsible, among other things, for scoring the credit risk of a particular asset or sovereign nation. When they rate a security as "AAA," premium safety, investors pile in. They're an integral part of the financial system. You undoubtedly remember that the world’s leading agencies – Fitch, Moody's, and S&P, were all complicit in slapping AAA premium ratings on so many toxic mortgage-backed securities… and maintaining sound ratings for far too long on bankrupt nations like Greece and Portugal. The entire industry lacks credibility at this point, and China's Dagong agency aims to do something about that. This morning, I read... Read full article... More Cruxallaneous: Doug Casey: What to do with your money now The most important news you didn't hear today This weekend's gold news could change everything |
| Marc Faber: The U.S. dollar is headed to "zero" Posted: 19 Apr 2011 01:03 AM PDT From Bull Source: Investor Marc Faber joins CNBC to discuss currency positions and the long-term future of the U.S. dollar. ... Faber thinks we're in a contest for the ugliest currency. He says a huge overhang of U.S. dollars exists globally, and suggests gold and silver as the best currencies... Read full article (with video)... More from Marc Faber: Marc Faber: This is the "end game" Marc Faber: Sell stocks now... buy this instead "Dr. Doom" Marc Faber shocks CNBC anchor with rant on poor people |
| Richard Russell: "Surging gold tells the world that something is terribly wrong" Posted: 19 Apr 2011 01:02 AM PDT From Richard Russell in Dow Theory Letters: This nation is so riddled with lies and corruption, sometimes I wonder how the U.S. has survived the many centuries since the Founding Fathers gave us our great Constitution. No wonder Fed Chief Bernanke fought so hard to keep the Fed's lending a secret. I just read in Rolling Stone magazine a story entitled "The Real Housewives of Wall Street." It seems that the Fed loaned bailout money of $220 million to the wives of two Morgan Stanley bigwigs. After his wife got a big taxpayers bailout John Mack, CEO of Morgan Stanley, bought a $15 million home equipped with a 12-car garage. Outrageous! When you think about it, it's no wonder that Wall Street and the Fed hate gold. Gold exists outside the system. The Fed can't manipulate or create gold the way they do Federal Reserve Notes. When gold rises, as it has been doing, it hoists a red flag over Wall Street, the Fed, and the economy. Surging gold tells the world that something is terribly wrong. All the lies, corruption, and secrets of the Fed and the politicians can't erase the dire message of gold. Gold is the protector and refuge of the common man. No wonder all the recent record highs in gold remain unreported by the media. Crux Note: Learn more about the excellent Dow Theory Letters here. More from Richard Russell: The great Richard Russell on how anyone can become rich Richard Russell: Why the bull market in gold has much farther to go Richard Russell: Everything you need to know about gold in three sentences |
| If you own gold or silver stocks, this analysis could surprise you Posted: 19 Apr 2011 12:59 AM PDT From The TSI Trader: It has been annoying these past several days to watch gold and silver break to new highs while the miners have seemingly collapsed, unable to even hold up horizontally. So this got me to wondering -- is it too late for the miners to make a big move? After doing some research my findings surprised me, and perhaps they will surprise you too. I have prepared four charts of the Amex Gold Bugs Index (HUI). First we will look at the... Read full article... More on mining stocks: Trader alert: Gold miners could be setting up for a big move higher Porter Stansberry: This is the only way you'll ever get RICH in stocks Casey Research reveals the top takeover targets in the junior mining sector |
| Devaluation of the Words on the Dollar Bill Posted: 18 Apr 2011 11:30 PM PDT |
| Posted: 18 Apr 2011 11:30 PM PDT
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| Posted: 18 Apr 2011 09:53 PM PDT The following is a report on major market indicator closing prices as of April 14. Dow Jones Industrial Average: Closed at 12285.15 +14.16 on very low volume of 140 million shares versus a moving average of 697 million shares. Momentum has peaked and turned mildly lower. Price is above all moving averages, which is bullish. Resistance is 12,300-12,400 and support is the 20-day average at 12265.65. More market wariness and concerns on jobs, credit and politics set the tone to hold down the Dow in this Thursday trading. We just posted a major bear double top earlier this month, but we contend the PPT and New York stock crowd will continue to prop the market. Look for a flat to down week this week followed by potentially more buying next Monday. We'll have to wait and see what Friday, tomorrow, brings first. S&P 100 Index: Closed at 587.32 -0.38 on normal volume and mildly falling momentum. This chart has double-topped to a bearish sell. However, we have trading channel and moving average price congestion clustered at the close; the 589.82 (20-day), and 586.18 (50-day), averages with all three prices barely holding above a trading channel line. Support is the 50-day average and resistance is the price of 590. On the cycles and time, we think these stock markets can hold-up until May 5-10 and then, enter some serious but perhaps not disaster selling. The funds and their managers prefer to hold-up this market until they can push-out all their IPO stock. We think they do not have enough time remaining before "Sell In May And Go Away" hits the shares. However, what could happen here is a levitation, until early May followed by mild cycle selling, and then a subsequent market rebound from Mid-May moving into June. Then, however, we think that's it for the bull stock markets until the end of August with perhaps one more timid rally in July. S&P 500 Index: Closed at 1314.52 +0.11 on 90% of normal volume and flat to down momentum. Resistance is the 20-day average at 1318.10, just above the close and support is 1307.64 on the 50-day moving average. The stock index patterns are mostly all similar with double tops or, near double tops. But, it is also important to note they have all formed inverted head and shoulders bull patterns as well. This point is important. While these two key formations are at odds with each other, on the fundamentals, with inflation and market manipulators so determined to sell mountains of shares, we say the buy side wins with a mild early May correction followed by more buying. Nasdaq 100 Index: Closed at 2311.25 -5.38 as price was sliding lower this week but has now supported at 2300. Resistance is the 20-day average at 2313.97. We have five controlling patterns all jammed into each other just above 2300. This signals 2300 is good support and pricing will probably continue sideways for a few more days before new buying next week. The close and the 20 and 50 day averages and channels are 2313.97, 2305.50; with 2300 and 2350 on a channels. Expect flat to sideways action to close out this week followed by a potential breakout rally next week. First, we need a reading on Friday's trading for more ideas. XAU Index: Closed at 219.18 +2.51 on peaking momentum and a falling metal-to-shares ratio. This signals selling until probably next week when gold and silver get new rally footing for support. After hours futures silver trading on Thursday evening has been wild with new and higher buying on the May, 2011 most active futures contract. For now, we think silver takes the lead and gold should follow higher next week, pushing up the XAU. 30-Year Bonds: Closed at 119.69 +.12 on flat to down momentum now recovering. The bonds had a nasty selling chart last week but this week price is clinging to new support just under 120.00; the primary bond price number. Nearby resistance on the 20-day is 119.77 with the 50 day higher at 120.32. The 200-day average is even higher still at 122.98. So, despite the price coming off the bottom just above 117.50-118.00, the bonds are holding-up on New York news and perpetual printing by central bankers world-wide. As stocks gain more power next week, bonds should sink again probably back to 118.00-117.50 lower support. After that, we should see a higher price for bonds and selling stocks for the last half of April into the middle of May. Gold: Closed at 1473.90 +17.90 with momentum beginning to rise after a mild 2-3 day selling event. The new price is way above all the moving averages at 1338, 1420, 1443 with new support at 1465. Resistance is 1475-1485. Gold is strong and silver is even stronger. Almost all the fundamentals and technicals favor more buying in gold and silver. Markets are catching on to the new inflation and are rejecting the central banker credit policies of print, print, print. Friday should be a mild corrective wave lower, probably supporting at $1,465 for the close and for the weekend. Watch for new buying next week, hopefully taking the price to $1,507 resistance. PM shares should finally get a good boost as well. Silver: Closed at 42.10 +1.50 with price far above and running away from moving averages in a major rally as we did forecast. An intermediate resistance would be $45 next week. Resistance is 42.18 and support is 42.08. Today, the futures during normal trading hours had a range of +$1.76 with the total day showing an up-move of $1.93. This would have been blocked at the two-year-old daily limit up of $1.50. Today, silver futures have no limits. That kind of platform control could come again but we think silver could touch the old higher highs near $48.50-$50.00 of 1981 first. Silver is very hot and should continue to be so for a few more days but somewhere from $45.00 to $51.00 expect a pivot selling reversal on major profit-taking. US Dollar: Closed at 74.68 -0.30 with flat to down momentum and support on the 20-day average at 75.60. Resistance is 75.00-75.50. Price is below every moving average and channel support line on the chart. For a few days recently, it appeared the support of 75.00 would hold. This was not to be with congressional budget fighting and no reasonable plans for a new USA budget, as yet, on the table. QE2 shall continue and QE3 will follow probably with no announcements after June 31. Our leaders will have to move into QE4 this fall but by then it is doubtful the bond markets can continue under the strain. Expect more selling toward 74.00 on Friday with something even lower next week. The price of 69.50 is about as low as the dollar can go before a cliff dive to 55-56.00 on the index. Crude Oil: Closed at 109.00 +1.37 with the most active May futures at 108.49 in after hours trading. New support is 108.00 with resistance at 110.00. Moving averages are 94.45, 103.80, and 107.45. Price closed above the lower trading channel line and momentum has been moving sideways neither-up-or-down since the middle of March. Oil could peak out at the end of April depending upon several factors not yet known. However, the longer trend is up and we see crude oil and natural gas rallies from the last week of May through the middle of next January, 2012, several months away. CRB Index: Closed at 360.66 +1.11 with the close higher than all moving averages. The big trend is up and support is the 20-day average at 359.26. New resistance is 375.00 and would make a double top. Oil is half the index so this index price will follow crude in the next commodity rally just now underway. We expect a higher price of 375 next week on resistance, with more buying in crude oil, precious metals, grains, and some base metals. – Traderrog         This posting includes an audio/video/photo media file: Download Now |
| $5,000 Gold and $300 Silver are Credible Numbers Posted: 18 Apr 2011 09:00 PM PDT
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| Texas University’s $1 Billion in Gold Bars Posted: 18 Apr 2011 08:44 PM PDT |
| Be Your Own Central Bank; Own Gold, Silver: Marc Faber Posted: 18 Apr 2011 08:43 PM PDT  Famed investor Marc Faber, Editor and Publisher of The Gloom, Boom & Doom Report said investors "should be their own central banks and gradually accumulate gold reserves as a currency", rather than speculating in gold. I thank Russian reader Alex Lvov for sharing this cnbc.com story with us...and the link is here. |
As far as I can tell, the euro is trading between two extremes. Scenario one is where the sovereign debt crisis hits the euro very hard. The other scenario is where the sovereign debt crisis does not exist.
What the bank stress tests provided was a map of the real problems. The financial industry had time to figure out where the real problems actually were, and how bad those problems might be.| You are subscribed to email updates from Gold World News Flash 2 To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
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