saveyourassetsfirst3 |
- Is Commodities Carnage Soros' Fault?
- Travelzoo Fills the Gap
- Bespoke's Commodity Snapshot
- Givers and Takers
- <p>What happens after QE2</p>
- SLV margin Hike?
- Is gold about to go vertical? Interesting chart...
- Portuguese Gold Sale Urged by Senior German Lawmakers as Mexican Central Bank Buys 100 Tonnes
- Like I said...
- Gold selling sets in... Huge George Soros fund selling gold
- Euro surging against the dollar: European central bank expected to raise rates again tomorrow
- The selloff in gold and silver could be setting up a massive final rally
- Gold Price Direction Based on Investors Sentiment
- Extorre Gold Mines Limited: High Gold-Silver Grades Continue for Zoe Discovery at Cerro Moro
- TINKA Resources TK.V / TKRFF Update
- Silver Plunge Flirts with 20% Bear Market
- Costco, Silver, Bin Laden
- The Knife Catcher (updated)
- Gold and Silvers Daily Review for 3rd May 2011
- Silver Tsunami
- The Fix Is In
- Gold buying encouraged by negative real rates
- Silver's Mini Flash Crash: Same Time, Same Place
| Is Commodities Carnage Soros' Fault? Posted: 04 May 2011 05:00 AM PDT Market Blog submits: By David Berman There they go again: After a lackluster start to the trading day, stock indexes took a turn for the worse in mid-morning activity on Wednesday, with commodity producers leading the decline. The S&P/TSX composite index was recently down 158 points or 1.2 per cent, to 13,534. The index plunged more than 240 points on Tuesday. The S&P 500 was down 11 points or 0.8 per cent, to 1345. In both cases, energy stocks showed the biggest drop, falling about 2 per cent. Materials were also down significantly, falling more than 1 per cent. The declines come as commodity prices virtually across the board swoon. Oil fell to $109.25 a barrel, down $1.80. Gold fell to $1,527 an ounce, down $9.50. Silver fell 6.7 per cent, tumbling below $40 an ounce not long after approaching a record high of about $50, bringing its decline this week to nearly Complete Story » |
| Posted: 04 May 2011 04:45 AM PDT Trader Mark submits: Speaking of filling gaps, I mentioned a week ago Monday that Travelzoo (TZOO) looked poised to short for those who were nimble as the stock was extremely extended over any major support level. [Apr 25, 2011: Travelzoo Now 36% Over the 20 Day Moving Average]
When I wrote that the stock was just under $103. The next day it opened at a similar price and proceeded to implode down to the mid $80s. It has been down each and every session since then (6 days) and now trades in the $73s. Now to be fair, if I had listened to my own advice and put on any puts or Complete Story » |
| Posted: 04 May 2011 04:26 AM PDT  Hickey and Walters (Bespoke) submit: Below we highlight our trading range charts of ten major commodities. For each chart, the green shading represents between two standard deviations above and below the commodity's 50-day moving average. Moves above or below the green zone are considered significanly overbought or oversold. The big commodity move so far this week has been in the silver market, where the metal Complete Story » |
| Posted: 04 May 2011 04:16 AM PDT Wow, the hate and the venom that is unleashed when things don't go according to plan certainly is disappointing, though not unexpected. Please never forget that this site and the new one are, first and foremost, about preparing for the end of the current, global financial system. The desperate events of the past nine days should only serve to reinforce in your mind that this end is certainly coming. Sooner rather than later. Our work here (yours and mine) is about helping the 99% of the population that is in the dark, blinded by normalcy bias and distracted by their everyday stresses. We must help them prepare. It is our duty. The new site is being designed to allow us to leverage each other's individual knowledge and expertise. The goal is obviously to grow it and give it as wide of visibility as possible. To that end, I share with you my insights and projections on short term movements in gold and silver. If that is what drew you to this site, great. Once you're here, though, it is hoped and expected that you will stick around and help the overall community. So, with that in mind, I have a message for all the hatemailers and hateposters: Please leave this site now. A "first time poster" or "lurker" who only now joins the conversation in order to vent and complain is of no value. These people are TAKERS not GIVERS. Being lurkers, all they've ever done is steal from the information given freely at this site, never posting before today to add their own insights and knowledge. And now, without ever giving anything back, they complain and try to pass off responsibility for their own personal over-leverage and greed. Shameful. I repeat...IF you are one of these people, please go away and don't return.  |
| <p>What happens after QE2</p> Posted: 04 May 2011 03:58 AM PDT The killing of Osama bin Laden was supposed to raise prices. Especially the price of the dollar. The buck has been going down for 3 years. It's now within a few cents of its all time low, registered back in the '70s. |
| Posted: 04 May 2011 02:46 AM PDT Urging you all to prepare for carnage if it happens. This is playing out exactly as I expected. I will be here if the capitulation occurs...you will have a helping hand...I am now hedged with 300 contracts of SLV puts May 21 $45 strike. Trade paper for phyzz, you know the equation...this is temporary noise. August you will see new highs. Click hear to read this... |
| Is gold about to go vertical? Interesting chart... Posted: 04 May 2011 02:09 AM PDT Is Gold About to Go Vertical? Quote: Gold is in a bubble. Anyone will tell you that. They've been saying it since gold was about, oh, $500 an ounce. During the dot-com bubble, you met lots of people with tech stocks. Taxi drivers told you what dot-coms they owned. During the housing bubble you met normal, ordinary people who were trading up to expensive homes using adjustable-rate mortgages, buying new condos off plan to flip, and cashing out their fictional "equity" through a refinance mortgage. But who actually owns gold? I keep hearing about the gold bubble, but every time I ask people if they own any themselves, they say, "no, no, of course not, it's a bubble." Some bubble. Now take a look at our chart. It's an updated version of one I ran nearly a year ago, when gold was $1,176 an ounce. It compares the bull market in gold with the last two undisputed "bubbles," namely tech stocks and housing. It shows the gold price since 2001, the Nasdaq Composite COMP (^IXIC - News) from 1989 to 2001, and Standard & Poor's index of Homebuilding stocks from 1995 to 2007. The picture is pretty remarkable. If gold is a "bubble," it doesn't look like it's peaked yet. Indeed it looks like it might be just about to enter its big, blow-off phase. That's when you make the real coin. In this case, gold coin. Will this happen? It's anyone's guess. But there are reasons to think it might. Gold enjoys some of the key characteristics you need for a bubble, including a "this time it's different" storyline. Central banks around the world are printing more dollars, euros, pounds and yen. Gold may simply be a less awful currency than all the others. Banks can't print any more of it, so its price should probably rise while other currencies fall. And then there's China. As it rises to global superpower status, the country will need to diversify its currency reserves. Right now the Chinese are way too dependent on dollars. They have a tiny amount of gold. If they shift even a bit more, the price will go stratospheric. But there are problems with gold that make it very hard to buy with confidence. Gold is volatile. Nobody knows what it's worth. I keep asking gold bugs for a sensible valuation, and they can't tell me. And you can forget all the superstition. Despite what the true believers say, gold is no more "true" money or "real" money than anything else. As it generates no income, the gold market is effectively a Ponzi scheme. Your returns come entirely from the next buyer in line. (Oh, and be aware that many of the people bragging today that they have "owned gold since 2001" have actually owned it for several decades longer than that. Through the eighties and nineties they lost their shirts as gold crashed.) If you want to bet on a mania, you have any number of options. One is to buy in stages — to ease yourself in, as it were. If you want to buy $10,000 worth of gold, and you are terrified you'll take the move the day before it peaks, then just buy in $1,000 lots over time. (I'd suggest this seems a particularly good idea at the moment, because gold has risen a long way lately. The dollar may be overdue for a sharp bounce.) A second is to buy gold mining stocks. So far they've been left behind by the rise in the metal. John Hathaway, manager of the Tocqueville Gold (TGLDX - News) mutual fund, says many big gold mining stocks, in particular, are cheap in relation to gold. A third may be to take a wager on "out of the money" call options on the iShares Gold Trust (GLD - News) , an exchange-traded fund that owns one tenth of an ounce of gold per share. This is a particularly high-risk, high-octane bet on gold going vertical, fast. Options allow you to make big profits in a mania, while only risking a small stake. The iShares Gold Trust trades around $150 a share right now. The $200 calls, good until January 2013, cost just $6.52 per share. If gold passes $2,065 an ounce by then, equivalent to $206.52 on the GLD, you'll make a profit. The downside is that if there's no boom, you'll lose your stake. But then your risk is limited to $6.52 per share. Brett Arends is a senior columnist for MarketWatch and a personal-finance columnist for the Wall Street Journal. |
| Portuguese Gold Sale Urged by Senior German Lawmakers as Mexican Central Bank Buys 100 Tonnes Posted: 04 May 2011 01:47 AM PDT gold.ie |
| Posted: 04 May 2011 01:42 AM PDT Buy the Paper PUTS, and average in on the physical. I am loaded up on SLV puts, sold 80% my calls yesterday at $44 If SLV ever says they are raising the margin on it, LIGHTS OUT. We will have $30 spot by noon time. Protect yourself. I hope I'm wrong (not really, since I could use another 5K ounces for shits and gigs) |
| Gold selling sets in... Huge George Soros fund selling gold Posted: 04 May 2011 01:14 AM PDT From Bloomberg: Silver futures dropped, heading for the biggest three-day fall since March 2008, as an increase in margin requirements on the Comex in New York drove investors away. Gold also fell after a report that Soros Fund Management LLC may have cut holdings. Silver for July delivery slumped as much as 5 percent to $40.465 per ounce, after losing 7.6 percent yesterday and 5.2 percent on May 2. The metal was at $41.175 at 2:01 p.m. in Singapore, taking losses over the three days to 16 percent. Immediate-delivery gold fell 0.2 percent to $1,533.28 an ounce, also lower for a third session. CME Group Ltd., Comex's owner, said this week that the minimum amount of cash that must be deposited when borrowing from brokers to trade silver futures will rise to $16,200 per contract at the close of business yesterday, from $14,513. A year ago, the margin was $4,250. "Silver is often the lead indicator for changes in trends, or at least for corrections," David Wilson, an analyst at Societe Generale SA, wrote in a note. After futures rallied to a record $50.35 an ounce in January 1980, prices dropped 78 percent in four months. Soros Fund Management, the $28 billion hedge fund run by Keith Anderson, has sold much of its gold and silver holdings, the Wall Street Journal reported today, citing unidentified people. Many of the sales took place over the past month as there was a reduced risk of deflation, according to the report. From the start of this year to the end of April, silver futures rallied 57 percent, peaking at $49.845 on April 25. The metal was the best performer in that period among the 24 raw materials tracked by the Standard & Poor's GSCI Index. 'Opportunistic Buyers' "A reversal of 20 percent or more, returning the metal to levels in the mid-$30s, would not surprise us at all," Edel Tully, a London-based analyst at UBS AG, wrote in a report. "Only then would we be opportunistic buyers." Demand for silver and gold has been supported by the growing prospect of currency debasement and accelerating inflation. The dollar fell 7.5 percent against a basket of six major currencies this year, sliding to its lowest level since 2008. Silver assets held in exchange-traded products fell 1.1 percent to 15,169.80 metric tons yesterday, while gold holdings stood little changed at 2,069.78 tons, according to data compiled by Bloomberg. Gold for June delivery in New York declined as much as 0.6 percent to $1,531.20 an ounce, after losing 1.1 percent yesterday. Futures reached a record $1,577.40 on May 2. Gold to Silver Ratio Gold was "dragged lower by another sharp drop in silver," Mark Pervan, head of commodity research at ANZ Banking Group Ltd., wrote in a note. "Although silver is a smaller market and prone to choppy trading, it still had a bearish impact." UBS's Tully said the gold-to-silver ratio may return to 40 this month after a decline to 31.7135 on April 28, the lowest level since 1980. An ounce of gold bought 37.15 ounces of silver today. "We remain significantly more friendly to gold than to silver," she said. "We find it very likely that investors, happy with their silver gains this year, will accelerate their profit-taking." Palladium for immediate delivery lost 0.8 percent to $767.75 an ounce, while platinum fell 0.7 percent to $1,841.50 an ounce. To contact the reporter on this story: Kyoungwha Kim in Singapore at kkim19@bloomberg.net. To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net. More on gold: Doug Casey: Gold is the only safe place left Gold guru Turk: "Waterfall" decline in the U.S. dollar is coming Today's entertainment: Obama's deficit reduction plan includes robbing Ft. Knox of its gold |
| Euro surging against the dollar: European central bank expected to raise rates again tomorrow Posted: 04 May 2011 01:11 AM PDT From Bloomberg: The euro rose against the dollar, approaching its highest level since December 2009 on speculation European Central Bank President Jean-Claude Trichet will signal further rate increases after policy makers meet tomorrow. The shared currency rose versus most of its major counterparts as European services and manufacturing growth accelerated in April. New Zealand's dollar dropped to a two-week low on the biggest net outflow of residents in more than 10 years. The dollar fell against the euro before a report forecast to show company hiring slowed in April, encouraging the Federal Reserve to keep borrowing costs low. "The ECB has nailed its anti-inflation colors firmly to the mast, and the Fed hasn't even got around to starting yet," said Steven Barrow, a currency strategist at Standard Bank Plc in London. "This euro rally won't extend too far if the ECB isn't as hawkish as the market expects." The euro rose 0.3 percent to $1.4862 at 7:22 a.m. in New York, from $1.4825 yesterday, after touching $1.4902 on May 2, the highest level since December 2009. The euro gained 0.5 percent to 120.59 versus the yen, from 119.99. The dollar advanced 0.3 percent to 81.16 yen, from 80.94. The yield on 10-year German bunds climbed above the U.S. equivalent yesterday for the first time since June 2009 as European producer-price inflation unexpectedly accelerated in March to the fastest level in more than two years. Europe's Economy A composite index of European services and manufacturing rose to 57.8 in April, led by factory output, a report showed today. Another report showed Spain's registered unemployment declined for the first time this year. French Finance Minister Christine Lagarde said a strong euro benefits the region's companies and signaled that inflation is a greater concern than growth in the region, saying there's no need for further stimulus and warning that consumer-price increases are accelerating "a little bit." The pound touched its lowest level in more than a year against the euro after reports showed U.K. house prices fell and construction growth slowed, discouraging the Bank of England from boosting borrowing costs tomorrow. Sterling traded at almost its lowest level since at least 1975 in a basket of 10 developed-nation currencies after the Nationwide Building Society reported the average cost of a British home dropped for the first time since January. The pound traded at 89.98 pence per euro after earlier sliding to 90.29, its weakest level since March 2010. Britain's currency gained 0.1 percent to $1.6508. Dollar Index IntercontinentalExchange Inc.'s Dollar Index, used to track the greenback against the currencies of six major U.S. trading partners, slipped 0.1 percent to 72.983 after touching 72.722 on May 2, the lowest level since July 2008. U.S. companies added 198,000 jobs in April after an increase of 201,000 in the previous month, according to the median forecast of 34 economists in a Bloomberg News survey before the report today from ADP Employer Services. The unemployment rate stayed at 8.8 percent, according to the median forecast of 74 economists in a Bloomberg News survey before the Labor Department's report on May 6. "If U.S. data are disappointing, that might put some pressure on the greenback and give some support to euro-dollar," said Lutz Karpowitz, a currency strategist at Commerzbank AG in Frankfurt. "ADP figures might be interesting because at least in the last two months the figures were very close to the nonfarm payrolls, so today the ADP might catch some attention in the market." New Zealand Dollar The kiwi dropped for a third consecutive day after Statistics New Zealand said permanent migrant departures exceeded arrivals by 530 in March, the most since a net 2,400 emigrants in February 2001. Departures from New Zealand add evidence to the government's outlook for little or no growth after a magnitude 6.3 earthquake wrecked houses and closed businesses in Christchurch on Feb. 22. The Treasury Department said this week gross domestic product was "flat to slightly negative" in the first quarter and forecast 2011 growth will be about 1 percent. "New Zealand's data today hasn't really inspired positive sentiment toward the kiwi dollar with fairly weak migration numbers," said Mike Jones, a currency strategist at Bank of New Zealand Ltd. in Wellington. New Zealand's dollar slid 0.9 percent to 79.15 U.S. cents after touching 79.06, the lowest level since April 20. The kiwi fell 0.6 percent to 64.23 yen. To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net. To contact the editor responsible for this story: Daniel Tilles at dtilles@bloomberg.net. More on the euro: Why there is no hope for the euro Forget the rosy Euro headlines... Spain's economy is burning Four tiny emerging markets are poised for big growth over the next two years |
| The selloff in gold and silver could be setting up a massive final rally Posted: 04 May 2011 01:10 AM PDT From Gold Scents: After what should be a brief pause this week, commodity markets will move into the greatest rally of the last decade. As usual, I will stay focused on the precious metal markets. They have been the leaders during this entire move out of the '08 bottom, and they will see the largest parabolic move of all commodities during the final leg up. I've noted in the past that consolidation size is usually a good leading indicator of how large the following rally will be. Gold just consolidated for five months. That is going to produce a massive rally. It's already produced a large move and it's just started. Gold and especially silver have already come much further than I originally expected at this stage of the game. I was looking for gold around $1,650 and silver at $50 by the top of this C-wave. Silver has already reached that level and gold tagged $1,575 yesterday... Read full article... More on precious metals: Four reasons gold could continue climbing Richard Russell: A "great gold tsunami" is coming Report: Resource guru Sprott is dumping silver shares |
| Gold Price Direction Based on Investors Sentiment Posted: 04 May 2011 01:00 AM PDT |
| Extorre Gold Mines Limited: High Gold-Silver Grades Continue for Zoe Discovery at Cerro Moro Posted: 04 May 2011 12:44 AM PDT Extorre Gold Mines Limited (AMEX:XG; TSX:XG; Frankfurt: E1R, "Extorre" or the "Company") is pleased to announce additional high grade to bonanza grade gold-silver results from the next 10 of 27 diamond drill holes completed to date on the new Zoe discovery at Cerro Moro, Santa Cruz Province, Argentina. |
| TINKA Resources TK.V / TKRFF Update Posted: 04 May 2011 12:31 AM PDT -drills to be turning May 15-17th, weather pending -Heavy buying on silver's WORST two days in recent history -MACD about to turn higher -RSI about to turn higher -bouncing off MA -close above .55 would be bullish Look okay here...might have found some support around .50. Let see what happens. |
| Silver Plunge Flirts with 20% Bear Market Posted: 04 May 2011 12:20 AM PDT Bullion Vault |
| Posted: 04 May 2011 12:17 AM PDT typetext |
| Posted: 04 May 2011 12:15 AM PDT It looks like we are seeing the bottoming in all three of our friends...gold, silver and crude. All three have found some solid support and have moved higher, partly because of the lousy ADP number (more on that later). Gold and crude may move higher from here and not retest the levels they found yesterday and overnight. Silver, because the decline was so sharp and severe at almost 20%, will likely need more time and will probably need to make a double-bottom type of base. A "V" bottom is possible, particularly when you consider the high probability of a fast, short-covering recovery. But with all the talk about "tops" and "bubbles", I suspect that instead we'll see another probe down below 41 and toward 40.50 before the recovery begins. Here's gold. Note the solid support that materialized near 1530. I had given you 1525-1530 so that worked out pretty well.   And here's silver. Again, its found buying support just above $40. Let's see how today plays out before we go grasping at the knives.  Regarding the POSX and the ADP report. As you know, I've been expecting the standard BLS BS monkey business to goose the dollar on Friday. The ADP report this morning obviously calls that into question...kind of. This could just as well be a head fake where ADP sets up the SPIN media for disappointment Friday only to have the government-issued BLSBS "surprise". After all, why not suck in some more dollar shorts today only to squeeze them on Friday to exacerbate the POSX calvin? Just something to think about. Lastly, I've been getting lots of emails regarding my $65 target for silver in June. Everyone wants to know if that number is still valid after the recent drop. Frankly, its not. I came up with $65 based upon recent pattern of drops and rebounds in similar timeframes. As you know, I'd expected a pull to $45 not $40. In light if this, we have to at least lower our target to $60 if not a little lower but even that's just a guess at this time. Let's see how the next two weeks play out. Pattern suggests that the UP move as we head toward first notice day in June will begin somewhere between the 17th and 24th of May. I'll have a much better idea of what to expect by then. OK, that's it. This day should be fun to watch. Much of the recent damage has been done beginning around noon EDT each day. Let's see if we can hang in there today through that time period. TF 12:30 EDT UPDATE: The Forces of Darkness are so heavily aligned against us at this point that it is impossible to know what might happen next. I was very confident that silver would bounce off of $40 and that gold would hold $1520. In a normal, everyday correction those levels would have held. Unfortunately, I failed to comprehend the enormity of the power working against us. We are merely spectators to their game. The fact that they make the rules, too, and can change them at a moment's notice makes it practically impossible to participate. The price of paper silver has now declined over 20% in two days without even the slightest hint of a bounce. At some point, price will rebound as there will no longer be any sellers left in the market. What that point will be is impossible to tell just now. I will have a more complete update after the Comex close. I'll try to take a look at all or our favorite miners, too. Until then, try to hang in there if you can. TF  |
| Gold and Silvers Daily Review for 3rd May 2011 Posted: 04 May 2011 12:13 AM PDT Gold Forecaster |
| Posted: 03 May 2011 09:34 PM PDT I got to thinking long and hard about the latet retraction of silver, and have come up with a scenario/theory that I have not read in the mainstream or anywhere elesse for that matter. Consider this possibility and please comment: What if the retraction is not due to supply and demand, but is because the insiders have finally determined that the comex will crash, and they are selling out their positions to avoid being left with toilet paper? This would explain alot. If it is the case, wouldn't there be what I call a "Silver Tsunami " where there is a major paper pullback followed by a major upswing for physical. What you guys think? :confused: |
| Posted: 03 May 2011 09:16 PM PDT Is The Administration And Their Washington Lobbyist-New York City Handlers' Gang Deliberately Driving The USA Into The Depths Of Greater Depression II? As we have reported in depth before, the entire combination of political and economic events, when tied together, tell us this smash is absolutely on purpose to manufacture a One World Government and a One World Currency. So far it's working. However, in our view, the crashing bond markets and the smarter than expected Sheeple in the USA will step in and take back America. It will not be pretty. They fully intend to keep their guns, gold and constitutional beliefs. I think this goes to pitch forks and torches in the streets. This mess could be quickly eliminated by simply withdrawing from three useless wars and elimination of all federal government health care programs. Then the budget would be balanced. However, this relief would not give the politicians the goodies and free stuff to give-away for votes gained from the naïve. America and the world at large must and will pay a terrible price. "RNC's Priebus Says U.S. Economy, Record Debt Will Cost Obama a Second Term." We wish that Priebus was correct. However, the GOP's failed badly on their first budget cut attempt and this tells me they will fold like little baby children. There is no backbone in the GOP leadership and we were personally terribly disappointed at them losing a good chance to do what's right. Forget it. The DEMS will win and the global disarray begins. Also; was the violence spreading through the Middle East SIMULTANEOUSLY; a set-up? We think it was so the Sheeple rally 'round the flag taking minds off economic blunders and tragedies. -Editor "Republican National Committee Chairman Reince Priebus said the nation's shaky economic outlook and record debt will spell defeat for President Barack Obama in 2012 while giving Republicans "a mandate" to present an alternative to voters. The party chairman, chosen in January, predicted the field of prospective Republican presidential candidates will narrow by summer's end, and the race will be shaped in large part by whether voters are satisfied with the country's economic direction." "There's an economic vulnerability and dire problem that Barack Obama is largely responsible for, in our country," Priebus, 39, told reporters at a breakfast in Washington today sponsored by the Christian Science Monitor. He said he was confident that Republicans will field a viable candidate and "that person will present a very clear choice and difference on those issues of jobs and debt and deficit. We'll have to wait for our nominee to make that case, but I think we're in a good position to." "Priebus said he isn't concerned that Republicans' drive for deep spending cuts and message of austerity — in contrast with Obama's talk about "winning the future" — will turn voters off. People "are very worried about the future economic solvency of our country, and that there are times in our lives when we need to just roll-up our sleeves and get serious about the issues," Priebus said." "Some of it isn't fun and games, and you can't keep — as the president does — talking about hope and talking about winning the future when, number one, hope isn't hiring in America, and we're not winning the future, we're losing the future," he said. Obama, who opened his re-election campaign April 4, has defended his economic record, saying his policies helped prevent the nation from sliding into a depression, and that he needs a second term to finish the job. "Two and a half years later, the economy is growing again," Obama said, April 21 at a fundraiser in Los Angeles. "So we've made progress, but our work is not finished." "Priebus, who in January defeated previous party Chairman Michael Steele and others to become RNC chief, said he spent his first months on the job working to shrink the organization's financial shortfall and restore its "credibility" after a tumultuous two years. That included a staff overhaul, fundraising, and embarking on a "goodwill ambassadorship" with major donors, party activists and leaders, members of Congress and reporters." "He said he has reduced the RNC debt, which topped $24 million when he took over, to less than $20 million. Party members had said Steele neglected major donors during his two-year term. He also was criticized for public statements such as one that the conflict in Afghanistan, which began after the September 11 terrorist attacks, was a "war of Obama's choosing." "Priebus said he's far more concerned with the economic debate and rebuilding the party organization than with the controversy — fed most recently by real estate developer Donald Trump — over whether Obama was born in the U.S. Obama was born in Hawaii, yet some Republicans have questioned whether he is foreign-born and ineligible to be president." Editor- the President performed an instant miracle this Wednesday offering up his birth certificate. Wonder if the Bureau of Engraving And Printing made him up a real nice one? A later private report from an impeccable source says the birth certificate is phony and was run through Photo-Shop repairs. This mess is going worse. "I've got better things to worry about," Priebus said. "My position is that the president was born in the United States, and I don't think it's an issue that moves voters. Priebus, who began as a local Republican activist in Wisconsin and became state chairman in 2007, said while he might be prepared to step in if his party's primary campaign became nasty, he won't weigh in on the positions taken by Trump or any of the party's other prospective presidential candidates." "It's up to the voters around this country and our primary voters to make a decision as to whom and what presidential nominee they want us to nominate," Priebus said. "It's Donald Trump's right to get on TV and say whatever it is that he wants to say, and it's up to the voters of this country to choose a nominee." -Julie Hirschfeld Davis 4-26-11 Bloomberg.net Your Editor's Fervent Wish. Personally, we could give rip about the birth certificate. Our goal would be to respect the Constitution and Bill of Rights and see our federal government follow those rules and laws while balancing the budget. If the president would do that, he would go down in history as one of the best presidents ever. This is not going to happen. With Rahm Emmanuel the new mayor ensconced in Chicago for big power, you can be sure he will deliver Chicago and Illinois for the president in the next election. The same goes for the Senate and the congressional gang in most of the coastal states and Nevada. The fix is in. Get used to it and get ready to deal with it.         This posting includes an audio/video/photo media file: Download Now |
| Gold buying encouraged by negative real rates Posted: 03 May 2011 09:15 PM PDT From the GoldMoney News Desk -- The gold price fell to under $1,540 per ounce yesterday, as traders continue to take profits on last week's rally. Silver had an even bigger fall, with the ... |
| Silver's Mini Flash Crash: Same Time, Same Place Posted: 03 May 2011 08:33 PM PDT ¤ Yesterday in Gold and SilverGold's high [such as it was] of the Tuesday trading day came in the early afternoon in the Far East...and then went into a gentle decline for the rest of the day in London and New York.
Silver also had its high of the day in early afternoon trading in the Far East...and only began to decline around 10:00 a.m. in London, with an intermediate low at 1:00 p.m. London time...which was 8:00 a.m. in New York. The silver price began to recover from there, but the moment that it stuck its nose above Monday's closing price at 11:20 a.m. Eastern...the same not-for-profit seller appeared...and that was it...with the ensuing slaughter extending in to the thinly-traded N.Y. electronic market.
Yesterday, gold closed down 0.55%...platinum down 0.32%...palladium was unchanged...and silver was down 5.17%. Since the shenanigans on Sunday night...and right through the shenanigans last night in the New York access market, silver is down about 15.8%. This is compared to maybe one or two percent in the other three precious metals.
The gold shares followed the gold price around like a shadow yesterday...but the sell-off in shares was out of all proportion to the smallish decline in the gold price...with the HUI down a chunky 3.37%. But, like the gold price itself, the HUI did not finish on its low of the day.
Most of the silver shares didn't do well yesterday, either...but, for the second day in a row, a couple of companies I own were well into the green. The buy-the-dip crowd was out in force, as weak hands sold into strong hands once again.
The CME Daily Delivery report showed that 108 gold contracts, along with 26 silver contracts, were posted for delivery on Thursday. The link to the action is here. It could be another interesting trading day in New York this morning...and we'll find out soon enough. Ben Bernanke's Lone Positive Legacy: A Return To The Gold Standard. Authorized participants withdraw another 3,365,965 ounce of silver from SLV. Sprott tells King World News he has more silver than ever. ¤ Critical ReadsSubscribeNo truth behind 'sell in May' adageNo more than half of the May-to-September periods over the last three decades saw equities fall. Slumps took place in just 10 of the 30 years in the US, 12 in the UK and 15 in Europe. "The success of 'sell in May and go away...' rests on a few key recessionary years," said analysts at Evolution Securities.  Frank Introduces Bill to Concentrate Fed Power in DCU.S. Rep. Barney Frank (D., Mass) Tuesday introduced a bill that would let interest rates be set only by Federal Reserve officials picked by the government, a new attempt to move power away from regional Fed officials chosen by the private sector.  Julian Assange: Facebook Is 'Appalling Spy Machine'In an interview with Russia Today, he said the following..."Here we have the world's most comprehensive database about people, their relationships, their names, their addresses, their locations, their communications with each other, their relatives, all sitting within the United States, all accessible to U.S. intelligence."  Risks of Economic Overheating: German Boom Fuels Inflation AngstThe German economic boom is fuelling inflation, and prices are expected to keep rising because of Europe's one-size-fits-all monetary policy. The European Central Bank can't raise interest rates aggressively enough to curb German price pressures because that would hurt the weaker euro-zone economies.  Portugal Agrees to a $116 Billion BailoutOn Tuesday, Portugal agreed to accept an international aid plan of €78 billion ($116 billion) that the country's caretaker prime minister, José Sócrates, suggested would involve more lenient conditions than those imposed on Greece and Ireland in return for similar bailouts.  Ben Bernanke's Lone Positive Legacy: A Return To The Gold StandardHere's an op-ed piece that was posted over at forbes.com yesterday. I stole this story from a GATA release.  Ralph Benko: Fort Knox vs. Fort FedHere's a blog that Eric King sent me last night that also ended up as a GATA release shortly thereafter, so I'm just going to steal Chris Powell's most excellent preamble...and then post the link.  And Now For Today's Mini Silver Flash Crash: Same Time, Same PlaceA cursory glance at Kitco's silver chart at the top of this column will show the mini-silver crash that occurred around 6:30 p.m. Eastern time last night in the New York access market. This was at precisely the same time as the dirty was done to silver on Sunday night. This event did not go unnoticed over at zerohedge.com...and I thank Dr. Dave Janda over at WAAM Talk 1600 in Ann Arbor, Michigan for sending me this story late night.  |
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