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- Tune in tonight: Aliens and Gold
- Why Datalink Deserves a Much Higher Valuation
- Miner Gold Resource Corp. starts treating gold and silver as money
- Chavez Nationalizes Venezuelan Gold Mines, Another Key Bullish Sign
- Nano Gold Rush: Researchers use tiny gold particles to boost organic solar cell efficiency
- Collapse in Philly Fed Manuf Index to -30.7; Stocks Sink, Gold Soars
- Thursday Interest Rate Brief
- 5 Stocks on the Move From Wednesday
- Gold Over $1808 - May Be Poised for Parabolic Rise…
- Sprott selling Gold, buying silver now
- Eric Sprott sells some gold!
- Top analyst Rosenberg: It's official… The "double dip recession" is here
- DAX down 4%, Russia Halted entirely, Dow futures down 200+, here comes the boom
- This beaten-down commodity could be on the verge of a major rally
- Why gold could surprise everyone and soar even higher
- Gold & Silver: Full Spectrum Dominance
- US banks at odds on gold price predictions
- Gold vs Gold Equities
- Wells Fargo Says "Gold Bubble Poised to Burst", Mish Says "Wells Fargo Bubble Poised to Burst"
- Venezuela Wants Its Gold Back: Is the Great Scramble for Physical Metal Starting?
- Mass Psychology Moving Towards Gold & Silver: James Dines
- Gold and Fiat Currency: Forty Years Later
- Venezuela also wants gold back from Morgan, Barclays, Standard Chartered, and Scotia
- As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting?
- Chavez to nationalize Venezuelan gold industry
- The Sprott Foundation announces sale of units of Sprott Physical Gold Trust
- Fund manager David Tice interviewed by James Turk
- Gold has become 'substitute currency,' Jean-Marie Eveillard tells King World News
- Gold & Silver Market Morning, August 18, 2011
- Venezuela’s gold proposals raise supply concerns
| Tune in tonight: Aliens and Gold Posted: 18 Aug 2011 05:03 AM PDT History Channel. "Lost gold at the bottom of Lake Puray."  Aliens and Temples of Gold Premiere Date: 08/18/2011 Could gold be the ultimate link between humans and aliens? A church in southern France is said to hold the key to alchemy--and a gateway to another part of the universe. Locals in Cusco, Peru believe UFO sightings are connected to lost gold at the bottom of Lake Puray. And some believe underneath the Great Sphinx of Giza lies an entire library left behind by extraterrestrials--a library stored on gold. |
| Why Datalink Deserves a Much Higher Valuation Posted: 18 Aug 2011 04:54 AM PDT By Kraken: Datalink Corporation (DTLK) engages in the design, installation, and support of data center solutions to mid- and large-size companies. The company''s portfolio of solutions and services comprises consolidation and virtualization; enhanced data protection services, which include local and remote backup, disaster recovery, archive, and compliance; and advanced network infrastructures that include assessment, design, deployment, and support of network infrastructures, such as servers, storage, and networks. Datalink is a very small company with a market cap around $150 million. Its competitors include Salesforce.com (CRM), F5 Networks (FFIV), Riverbed (RVBD), and VMWare (VMW). All these competitors have multi-billion dollar valuations with P/E ratios significantly higher than the S&P average. Simply put, the market believes these companies will grow substantially. Datalink on the other hand had a forward P/E of 10. So you would think that the company probably won't growing much, right? Wrong. The company's growth is accelerating. The company has beaten Complete Story » |
| Miner Gold Resource Corp. starts treating gold and silver as money Posted: 18 Aug 2011 04:30 AM PDT
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| Chavez Nationalizes Venezuelan Gold Mines, Another Key Bullish Sign Posted: 18 Aug 2011 04:24 AM PDT By Simit Patel: Venezuelan president Hugo Chavez announced this past Wednesday that gold mines in Venezuela would be nationalized. Chavez said in a phone call to state television:
Nationalization of mines reduces output for the free market -- both by ensuring gold is owned by nation-states and by reducing incentives for entrepreneurs to start new mining operations -- which in turn sends prices higher. It is worth noting that Venezuela is not the only country interested in nationalizing mines; South Africa has noted the issue recently as well. Nationalization of gold, particularly when done with the intent to bolster international reserves and done in cognizance of gold's decade long bull Complete Story » |
| Nano Gold Rush: Researchers use tiny gold particles to boost organic solar cell efficiency Posted: 18 Aug 2011 04:21 AM PDT
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| Collapse in Philly Fed Manuf Index to -30.7; Stocks Sink, Gold Soars Posted: 18 Aug 2011 04:14 AM PDT
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| Posted: 18 Aug 2011 04:10 AM PDT By Andrew Wilkinson: The U.S. benchmark yield sliced through its record low Thursday like a hot knife through butter after forecasters reined in global growth hopes over failure of European authorities to deal with worsening sovereign debt issues. Comments from Fed speakers rattled equity investors by explicitly stating that its policy of ultra-low interest rates for the next two years was not intended to be a kid glove for the equity markets. Just about every economic indicator under the sun has recently wilted and with bears hell bent on challenging last week's index lows, all we're missing is a Jim Cramer meltdown on financial talk-shows just to let us know just how bad it really is. Eurodollar futures – Cramer's famous CNBC rant a couple of years ago was inspired by angst that the Fed and Treasury were out of touch with the pain his hedge fund friends were living through. "They have Complete Story » |
| 5 Stocks on the Move From Wednesday Posted: 18 Aug 2011 03:21 AM PDT  By Alex Shadunsky: These stocks made big news on Wednesday despite the market being flat.
Clearwire (CLWR) jumped over 27% after a big insider purchase of stock. The company disclosed in a Form 4 filing the Chairman John Stanton purchased 2.76 million shares on the open market over the last week. His prices of purchases ranged from $1.78 to $1.89. The stock closed at $2.33 on Wednesday. Claude Resources (CGR) rose 16% after it released new exploration results from its new hanging wall discovery at its Seabee Gold Mine. Highlights from the programs include: 8.81 grams of gold per tonne (cut) over 4.9 metres true width (U11-349); 5.33 grams of gold per tonne (cut) over 4.8 metres true width (U11-350); and 6.90 grams of gold per tonne (cut) over 10.0 metres true width (U11-629). Speaking today in Saskatoon, Philip Ng, Senior Vice President, Mining Operations stated that "We have mobilized two underground drills Complete Story » |
| Gold Over $1808 - May Be Poised for Parabolic Rise… Posted: 18 Aug 2011 01:25 AM PDT |
| Sprott selling Gold, buying silver now Posted: 18 Aug 2011 01:12 AM PDT Like I said I was doing about a week ago, billionaire Sprott is copying me,,,lol I'm kidding (not really). Our boy Kid Dynamite gets a mention in there too. "On Wednesday, Mr. Sprott said his comment about silver does not mean he is abandoning gold altogether. "Anything I said about it being the resource of the last decade was not to suggest that it wasn't going to do well this decade," he said. "It's just I think silver will do better." Click here to see more...  |
| Posted: 18 Aug 2011 12:29 AM PDT ... to buy more silver. :biggrin::dance: The Sprott Foundation announces sale of units of Sprott Physical Gold Trust TORONTO, Aug. 17, 2011 /CNW/ - The Sprott Foundation, of which Eric Sprott is a director, announced today that as part of its long-term investment strategy, it is diversifying its holdings by selling 2,000,000 units of the Sprott Physical Gold Trust (the "Trust") and re-investing the proceeds from such sale into the silver sector. Mr. Sprott, who personally owns 6,000,000 units of the Trust, continues to hold his units for investment purposes and may increase or decrease his investment in the Trust depending on market conditions or any other relevant factors. http://www.cnw.ca/en/releases/archiv.../17/c4347.html |
| Top analyst Rosenberg: It's official… The "double dip recession" is here Posted: 17 Aug 2011 11:58 PM PDT From Zero Hedge: Funny how much can change in a month. After everyone was making fun of David Rosenberg as recently as June, not a single pundit who owns a suit and can therefore appear on CNBC dares to mention the original skeptic. Why? Because he was proven correct (once again) beyond a reasonable doubt. (And while we may disagree as to what asset class is best held into the terminal systemic collapse, Rosenberg has been one of the most steadfast and consistent predictors of the 'non-matrixed' reality in the world.) Yet oddly enough, there are still those who believe that a double dip is avoidable. Well, here, in 12 bullet points, is Rosie doing the closest we have seen him come to gloating... and proving the double dip or whatever you want to call it, is here… Read full article… More on the economy: S&P strikes again... slashes U.S. growth forecast Why the Fed's QE2 is to blame for this crash Rush Limbaugh on market collapse: Obama is engineering the decline of America |
| DAX down 4%, Russia Halted entirely, Dow futures down 200+, here comes the boom Posted: 17 Aug 2011 11:56 PM PDT Now that the irrational CNBC pumping 'bottom' theories can be put to rest, and reality is about to quickly punch those moronic new longs straight in the teeth, I guess the gold 'bubble' continues. After all, let it be known, they will be calling it a bubble for the next 5 years all the way up to $20,000 at which that point it may be a bubble, pending Chairsatan Shalom Bernanke starts to increase rates and shreds 50 Trillion dollars. Buy the dips on any of your favorite juniors, I will be buying KAM.V on any weakness.  |
| This beaten-down commodity could be on the verge of a major rally Posted: 17 Aug 2011 11:55 PM PDT From Kimble Charting Solutions: Cotton has been one of the hardest hit commodities this year, seeing over 50% of its value slip away in a matter of months. I shared a few weeks ago that aggressive investors should look at "catching a falling knife, due to hitting channel support" and pick up some cotton, via the ETF… Read full article (with chart)… More on commodities: Jim Rogers: Higher food prices will spark riots soon Two reasons to be bullish on nuclear energy and uranium Investors are rushing into commodities at the highest rates in a year |
| Why gold could surprise everyone and soar even higher Posted: 17 Aug 2011 11:52 PM PDT From Acting Man: … Some gold bears, like analyst Dean Junkans from Wells Fargo, once again believe they have spotted a 'bubble' destined to burst at any moment. As far as we can tell, he uses the same old tired argument we have heard a thousand times on the way up, namely a spiel on the 'crowded trade' idea and the equally misguided idea that gold can only rise if 'the end of the world' is here. This probably shouldn't even be dignified with a response. But let us just say that if you were to ask a room full of investment professionals who have an investment in gold, it wouldn't take you much longer than five seconds to count the hands that go up. Gold bulls generally also expect a correction in the near to medium term, on account of the large and uninterrupted rally from the previous consolidation area. We have a different observation here that we would like to share – and mind, this is not a forecast, we are merely sharing something that is a matter of experience. Gold and commodities work in the exact opposite manner to stocks… Read full article… More on gold: Why gold could easily triple from here One of the world's greatest gold companies reports huge numbers The stars could be aligning for a spectacular gold rally |
| Gold & Silver: Full Spectrum Dominance Posted: 17 Aug 2011 10:30 PM PDT Hat Trick Letter |
| US banks at odds on gold price predictions Posted: 17 Aug 2011 10:15 PM PDT Gold price forecasts by major US banks are diverging. While analysts at JPMorgan and Bank of America boosted their target price for the yellow metal, Wells Fargo warned global investors of a gold ... |
| Posted: 17 Aug 2011 10:00 PM PDT
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| Wells Fargo Says "Gold Bubble Poised to Burst", Mish Says "Wells Fargo Bubble Poised to Burst" Posted: 17 Aug 2011 09:30 PM PDT |
| Venezuela Wants Its Gold Back: Is the Great Scramble for Physical Metal Starting? Posted: 17 Aug 2011 09:10 PM PDT ¤ Yesterday in Gold and SilverThe gold price didn't do anything worthy of comment yesterday. The high came at the London a.m. gold fix at 10:30 a.m. British Summer Time, which is 5:30 a.m. Eastern time...and gold finished up a couple of bucks from its Tuesday close. Volume was decent.
The silver price didn't do much of anything until around 1:00 p.m. in London yesterday...which was 8:00 a.m. in New York. Then, in the space of two and a half hours, silver rallied sixty-five cents to its high of the day...and was in the process of blasting off for the moon and the stars...when a not-for-profit seller showed up, taking the silver price down over seventy-five cents in less than an hour. Once the serious selling was over, silver recovered in price a bit during the balance of Comex trading...but basically traded sideways from 1:30 p.m. Eastern onwards in the thinly-traded New York Access Market. Volume was light, but much heavier than on Tuesday.
The dollar spent the early part of the Wednesday trading day keeping its head above 74.00. But that all ended at the London open at 3:00 a.m. Eastern time...and by 10:00 a.m. in New York, the dollar had fallen just under 70 basis points. It recovered a bit from there, but closed under 73.80. None of this dollar activity is anywhere to be found in the gold price chart yesterday.
The gold stocks spiked to their highs of the day around 10:00 a.m. Eastern...then fell all the way back to unchanged before recovering a bit into the close. The HUI finished up 0.89% on the day.
The silver stocks were a pretty mixed bag yesterday...and Nick Laird's Silver Sentiment Index closed up a smallish 0.56% on Wednesday.
(Click on image to enlarge) The CME's Daily Delivery Report showed that 37 gold, along with 20 silver contracts, were posted for delivery on Friday. JPMorgan, the Bank of Nova Scotia...and Jefferies in silver...were all part of the show. The link to that activity is here. There were reports from both GLD and SLV yesterday. The GLD ETF showed an increase of 292,120 ounces...and over at SLV they took in 681,929 troy ounces. The U.S. Mint had another sales report yesterday. The sold 3,500 ounces of gold eagles...2,000 one-ounce 24K gold buffaloes...along with another 150,000 silver eagles. Month-to-date the U.S. Mint has sold 83,000 ounces of gold eagles...17,500 one-ounce 24K gold buffaloes...and 2,134,500 silver eagles. As I keep reminding you, dear reader, I do hope you're getting your share, as it's my opinion that the clock is ticking. There was huge activity over at the Comex-approved depositories on Tuesday, as they reported receiving 2,209,572 troy ounces of silver...and shipped 1,754,399 ounces of the stuff out the door. As Ted Butler keeps pointing out, this sort of frantic in/out activity suggests tightness in the physical market, as it appears that no one wants to sell the Comex-held silver they own...at least not at the current price level, so new supplies must be brought in to meet demand. The activity is definitely worth the look...and the link is here. Reports from the Zürcher Kantonalbank's ETF's have been a little sparse over the past few months...but reader Carl Loeb was kind enough to provide what data they had sent him over the last three weeks. Since July 22nd their silver ETF has taken in 1.35 million ounces...and their gold ETF has added 174,402 ounces. Quite a number of readers sent e-mails to CFTC Commissioner Bart Chilton regarding the ongoing silver price management scheme led by JPMorgan. Everyone got just about the same canned response, but at least it was a reply. Silver analyst Ted Butler's commentary to paying subscribers was on this issue yesterday...and here are two paragraphs that I stole... "The primary observation I would like to make today is one in which Commissioner Chilton apparently concurs. As he has stated here and previously, Chilton is disappointed with the pace of the ongoing silver investigation, as are we all. Now almost three years old, this is the longest investigation in agency history, to my knowledge. Disappointment, however, is not the right word; outrage is more appropriate. That there is an investigation confirms that something may be wrong in silver; otherwise the agency is just wasting taxpayer funds. There is no good reason for any investigation to take this long. That Commissioner Chilton writes to share his concerns about important matters related to silver also confirms that something may be wrong in silver." "We don't need any more confirmations that something may be wrong in silver. We need for it to be decided if something is wrong or not for a very simple and glaring reason. If there is anything wrong in silver (as I allege), then that something wrong is a crime in progress. That's the critical distinction. That's what matters most. I'm not merely alleging that something wrong took place in the past that is non-recurring in nature. On the contrary, the silver manipulation is ongoing. It will be ongoing and a crime in progress for as long as the concentrated short position exists and the commercial crooks continue to behave collusively." I have a fair number of stories for you today...and I hope you have time to a least skim all of them. The silver and gold shorts in the Comex futures market are trapped...and in a very precarious position. They have to cover, deliver, or default...as there are no other ways out. Chavez says Venezuela will nationalize gold industry. Venezuela also wants gold back from JPMorgan, Barclays, Standard Chartered, the Bank of Nova Scotia...and the Bank of England. ¤ Critical ReadsSubscribeJon Stewart Discusses Ron Paul BlackoutIt seems that the video clip that I used yesterday got pulled for copyright infringement, so I will try it again. As I said yesterday...if I hadn't seen this with my own eyes, I wouldn't have believed it. Of course I always knew that the 'fix was in' when it came to the main stream media in the U.S.A...but this is totally off the charts. I hate to use the word 'conspiracy of silence'...but, if the shoes fits.... Jon Stewart over at The Daily Show had a field day with it...and rightly so. I thank reader James Davis for sharing this very hilarious [and very sad] must watch video clip with us. Readers in the U.S.A. can view it by clicking here...and, if you live in Canada, you can watch it by clicking here. From what I've been told, if you live elsewhere in the world, you can't view it at all. Too bad.  Whistleblower Claims Massive Pattern Of Document Destruction At The SECHere's a story that showed up in yesterday's edition of businessinsider.com. The SEC, which recently launched a whistle blower program that offers financial rewards for people who report securities violations, now has one of its own attorneys alleging that the agency destroyed thousands of documents involving banks and hedge funds, Rolling Stone's Matt Taibbi reported. The allegations come from SEC attorney Darcy Flynn, who is a 13-year veteran with the agency. According to the report, Flynn claims the SEC has been destroying records relating to the investigations of financial criminals since 1993. I thank reader 'David in California' for sending me this story yesterday...and the link is here.  U.S. Inquiry Eyes S.&P. Ratings of MortgagesThe Justice Department is investigating whether the nation's largest credit ratings agency, Standard & Poor's, improperly rated dozens of mortgage securities in the years leading up to the financial crisis, according to two people interviewed by the government and another briefed on such interviews. The investigation began before Standard & Poor's cut the United States' AAA credit rating this month, but it is likely to add fuel to the political firestorm that has surrounded that action. Lawmakers and some administration officials have since questioned the agency's secretive process, its credibility and the competence of its analysts, claiming to have found an error in its debt calculations. Roy Stephens sent me this story from The New York Times yesterday...and the link is here.  The upcoming expansion of U.S. bank credit: Alasdair MacleodI stole this story...and Chris Powell's preamble...from a GATA release yesterday. Economist and former banker Alasdair Macleod, who spoke at GATA's Gold Rush 2011 conference in London, predicted yesterday that the Federal Reserve is concocting a scheme to finance U.S. government debt with unused commercial bank reserves, a scheme of bank credit expansion, which, he writes, has always been inflationary and would be bullish for precious metals. Macleod's commentary can be found at his Internet site, financeandeconomics.org...and the link is here.  Angela Merkel and Nicolas Sarkozy fail to calm markets despite eurozone concordTraders reacted with exasperation as Angela Merkel and Nicolas Sarkozy repeated their "absolute will to defend the euro" and "shore up investor confidence" yet refused to back the shattered currency with eurobonds or a bigger bail-out fund. The failure to address the two measures left many traders ruing what they see as a lack of political leadership. Edward Meir from MF Global in New York said: "It doesn't look like the two biggest items were seriously discussed -- the potential for a eurobond and the size of the stabilization/bailout fund. At €450bn [the European Financial Stability Facility] could easily be wiped out if one of the larger countries gets into trouble." This story was posted in The Telegraph late on Tuesday night...and I thank Roy Stephens for sending it along. The link is here.  EMU crisis deepens as slump reaches Europe's AAA coreThe German economy slowed drastically over the early summer and may be on the cusp of a double-dip recession, dashing hopes that Europe's industrial engine would eventually lift EMU's southern bloc out of slump. The grim data came as Chancellor Merkel and French President Nicolas Sarkozy emerged empty-handed from their Paris summit, offering nothing concrete to restore crumbling confidence in the eurozone project. This is another story from late Tuesday night's edition of The Telegraph. It's an Ambrose Evans-Pritchard offering...and is, once again, courtesy of Roy Stephens. The link is here.  Fund manager David Tice interviewed by James TurkMy very good friend, fund manager David Tice, was interviewed by GoldMoney founder James Turk during GATA's Gold Rush 2011 conference in London, he discussed the failure of Keynesian economics, the difference between real metal and "paper gold," the likelihood of another credit disaster, the prospects for gold shares, and a lot more. The interview is 25 minutes long...and you can watch it at the GoldMoney Internet site. The link is here. |
| Gold and Fiat Currency: Forty Years Later Posted: 17 Aug 2011 09:10 PM PDT  Here is a really excellent essay on the U.S. default on the dollar's convertibility into gold. It's written by Nick Barisheff over at Bullion Management Group in Toronto. |
| Venezuela also wants gold back from Morgan, Barclays, Standard Chartered, and Scotia Posted: 17 Aug 2011 09:10 PM PDT  Venezuelan President Hugo Chavez ordered his government to repatriate $11 billion in gold held in banks abroad to safeguard the country from the economic crisis and said he will nationalize the local gold industry. Venezuela has about 211 tons of its 365 tons of gold reserves held abroad at institutions including the Bank of England, JPMorgan Chase & Co., Barclays Plc, Standard Chartered Plc, and the Bank of Nova Scotia, according to a government document. The link to this must read Bloomberg story, which showed up in a GATA release yesterday, is here. |
| As Chavez Pulls Venezuela's Gold From JP Morgan, Is The Great Scramble For Physical Starting? Posted: 17 Aug 2011 09:10 PM PDT  In addition to the nationalization of his gold industry, Chavez earlier also announced that he would recover virtually all gold that Venezuela hold abroad, starting with 99 tons of gold at the Bank of England. As the WSJ reported earlier, "The Bank of England recently received a request from the Venezuelan government about transferring the 99 tons of gold Venezuela holds in the bank back to Venezuela, said a person familiar with the matter. |
| Chavez to nationalize Venezuelan gold industry Posted: 17 Aug 2011 09:10 PM PDT  Venezuelan President Hugo Chavez said on Wednesday he plans to nationalize the gold sector, including extraction and processing, and use the production to boost the country's international reserves. The socialist leader said he would carry out the nationalization through a decree to be issued in the coming days and called on the military to help control the sector. "I have here the laws allowing the state to exploit gold and all related activities. That is to say, we're going to nationalize the gold and we're going to convert it, among other things, into international reserves because gold continues to increase in value," he said in a call to state television. |
| The Sprott Foundation announces sale of units of Sprott Physical Gold Trust Posted: 17 Aug 2011 09:10 PM PDT  The Sprott Foundation, of which Eric Sprott is a director, announced today that as part of its long-term investment strategy, it is diversifying its holdings by selling 2,000,000 units of the Sprott Physical Gold Trust (the "Trust") and re-investing the proceeds from such sale into the silver sector. I thank reader George Findlay for alerting me to this story...and I also thank Sprott's Sarah Zsiros for sending me the story. The link is here. |
| Fund manager David Tice interviewed by James Turk Posted: 17 Aug 2011 09:10 PM PDT  My very good friend, fund manager David Tice, was interviewed by GoldMoney founder James Turk during GATA's Gold Rush 2011 conference in London, he discussed the failure of Keynesian economics, the difference between real metal and "paper gold," the likelihood of another credit disaster, the prospects for gold shares, and a lot more. The interview is 25 minutes long...and you can watch it at the GoldMoney Internet site. The link is here. |
| Gold has become 'substitute currency,' Jean-Marie Eveillard tells King World News Posted: 17 Aug 2011 09:10 PM PDT  Jean-Marie Eveillard of the First Eagle Funds today told King World News yesterday that gold has become more than a hedge against inflation -- a "substitute currency." (Looks like he's not going to get invited to Federal Reserve Chairman Ben Bernanke's Christmas party.) An excerpt from the interview has been posted at the KWN website...and the link is here. I thank Chris Powell once again for his excellent introduction. |
| Gold & Silver Market Morning, August 18, 2011 Posted: 17 Aug 2011 09:00 PM PDT |
| Venezuela’s gold proposals raise supply concerns Posted: 17 Aug 2011 09:00 PM PDT Gold and silver futures gained in trading yesterday, with the news that Venezuelan dictator Hugo Chavez plans the nationalisation of gold mines in Venezuela raising supply concerns. 'We're going ... |
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