Gold World News Flash |
- “Gold unimaginably higher.”
- Silver Update 9/22/11 – Paper Profits
- How Long Might It Take to Get Rich from Gold Stocks?
- The Vigilante's View on the Markets, Gold & Gold Stocks
- Is This How Gold's Bull Market Ends?
- Gold and Silver Near Major Low
- Goldman Capitulates On Long EURUSD Call
- Run To Safety
- Harvey Organ's: The Daily Gold & Silver Report
- Nigel Farage - Financial Cataclysm & Gold Unimaginably Higher
- The Vigilante's View on the Markets, Gold and Gold Stocks
- In The News Today
- No Charts Tonight
- The Vigilante's View on the Markets, Gold & Gold Stocks
- Silver - Weekly Chart and annotations
- Alternative to the U.S. Dollar as the Reserve Currency
- The Financial Survival Network Interviews Chris Duane and Rick Ackerman
- Is Financial Instability The New Normal?
- Looks Like We Reached DEFCON I / Bourses Around World Tumble / Gold and Silver Attacked as Well
- What a Major Banking Crisis Would Do To the Gold Price? Part II
- Gold Thoughts
- Gold technically weak - needs Asian buyers to become active
- Schiff on twist
- Trying to Understand the Market Meltdown
- CFTC backs down on commodity trading rules
- Gold & The Future: First Computer Written Report Since 1999
- Operation Twist and More Ways to Throw Money Down the Drain
- India’s Gold Consumers Are Becoming Investors
- Aden Sisters: Buy Gold NOW as it Corrects on its Way to $2,000
- Notorious B.I.G.G.S. Flip Flops Again, Bottom-Ticks Market
| Posted: 22 Sep 2011 07:19 PM PDT Nigel Farage – Financial Cataclysm & Gold Unimaginably Higher
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| Silver Update 9/22/11 – Paper Profits Posted: 22 Sep 2011 06:39 PM PDT | ||
| How Long Might It Take to Get Rich from Gold Stocks? Posted: 22 Sep 2011 06:10 PM PDT Let's just admit it: we're invested in gold stocks not just to make money, but for the chance to change our lifestyles. And with their lackadaisical year-to-date performance, one may begin to wonder if they're still going to bring the magic.
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| The Vigilante's View on the Markets, Gold & Gold Stocks Posted: 22 Sep 2011 06:08 PM PDT Times like these are why we are dollar vigilantes. Talk is incessant about a possible collapse of the European Union - something which we consider to be a certainty. They can let it collapse now or paper it over again and see if they can keep that dead man walking a little longer.
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| Is This How Gold's Bull Market Ends? Posted: 22 Sep 2011 06:05 PM PDT PEOPLE THINK the gold price always goes up in a crisis, right until they find out it doesn't. And the reason that this now feels so much like the Lehmans collapse of three years ago is that, looking at the numbers alone, you'd think it was autumn 2008.
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| Gold and Silver Near Major Low Posted: 22 Sep 2011 06:02 PM PDT Don't let this nasty shakedown in bullion scare you. For the record, we are quite confident that gold and silver will be back on track soon, bounding toward new record highs. But both may have a little farther to fall if forecasts disseminated earlier to Rick's Picks subscribers prove correct. Specifically, we've been drum-rolling a possible 1709.20 bottom for Comex December Gold, and a 35.70 low for December Silver.
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| Goldman Capitulates On Long EURUSD Call Posted: 22 Sep 2011 05:32 PM PDT Just when it seemed that Goldman's all time unbest sell side analyst, FX "guru" Thomas Stolper, may actually have a strike at bat with his long suffereing EURUSD call which has had a worse Sharpe ratio than even John Paulson's hedge fund over the past 12 months, we are sad to inform our readers that Stolper is and continues to be the perfect contrarian signal (pari passu with that other all time fade: Barton "Notorious" Biggs) with a 0.000 statistical average (which, as everyone knows, is just as valuable as a 1.000). Because just as we predicted earlier today, when we said that "Goldman is about to announce it was just stopped out on its 1.55 EURUSD "tactical" trade", Goldman has just announced that it was "Stopped out of long EUR/$." Something tells us the slow money will not be happy to read this when they roll into the office between 10 am and 1 pm tomorrow.
The simple take home: never, ever bet, against betting against Goldman Sachs. Ever.
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| Posted: 22 Sep 2011 05:04 PM PDT http://www.adenforecast.com/ Gold just doesn’t let up in its ongoing super rise as record highs have been commonplace this past month. It’s already soared over 33% this year, which makes it almost the best year so far in the bull market! Gold shares and silver are following, and many gold shares have also reached new highs. Uncertainty and fear kicked up several notches this month, which caused a run to safety, and gold and bonds were the favorites. It’s interesting that we’re seeing both traditional inflation and a deflation indicator rising together as safe havens. GOLD DEMAND STRONG Gold continues to be bought by governments. Venezuela and Bolivia were upfront this month. Hugo Chavez is taking his gold out of London and the U.S. and sending it home, as he nationalizes mines. Mexico, Russia, Thailand and South Korea have been major buyers this year. The World Gold Council repeated that strength in the market remains concentrated in India ...
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| Harvey Organ's: The Daily Gold & Silver Report Posted: 22 Sep 2011 05:01 PM PDT Looks like we reached DEFCON 1/ Bourses around world tumble/gold and silver attacked as well
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| Nigel Farage - Financial Cataclysm & Gold Unimaginably Higher Posted: 22 Sep 2011 04:50 PM PDT  With world markets in turmoil and gold and silver tremendously volatile, today King World News interviewed former LBMA commodities broker and trader and current MEP Nigel Farage to get his take on the situation. When asked what is happening with the Eurozone crisis, Farage responded, "Paralysis, I think that's the only way one can describe it. They put together a currency, an economic and monetary union of countries that were entirely unsuited to each other. The idea that Greece and Germany could coexist under the same monetary framework was always a joke as far as I was concerned."
This posting includes an audio/video/photo media file: Download Now | ||
| The Vigilante's View on the Markets, Gold and Gold Stocks Posted: 22 Sep 2011 04:20 PM PDT Times like these are why we are dollar vigilantes. Talk is incessant about a possible collapse of the European Union - something which we consider to be a certainty. Read More...
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| Posted: 22 Sep 2011 04:02 PM PDT Jim Sinclair's Commentary Operation Twist will not have any significant impact on unemployment and the present softening economy. It will set up a situation for which only QE has application. It is that fact that support gold's bullish trend. Will Chinese Twist Fight the Fed? By TOM ORLIK SEPTEMBER 23, 2011 China doesn't have Continue reading In The News Today
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| Posted: 22 Sep 2011 03:48 PM PDT by Turd Ferguson, TFMetalsReport.com:
First of all, for those who still think in fiat status quo terms, on a percentage basis gold was down far less than equities today. If you're in silver, you got your butt kicked. But hey, if you're going to be trading silver, you'd better get used to getting your butt kicked every once in a while. When you're in a market that is controlled and dominated by an uber-short which can manipulate price at any time of their choosing, you are, occasionally, going to get your butt kicked. Period. Read More @ TFMetalsReport.com
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| The Vigilante's View on the Markets, Gold & Gold Stocks Posted: 22 Sep 2011 03:46 PM PDT from DollarVigilante.com:
Times like these are why we are dollar vigilantes. Talk is incessant about a possible collapse of the European Union – something which we consider to be a certainty. They can let it collapse now or paper it over again and see if they can keep that dead man walking a little longer. Meanwhile, in the US, the talking heads in mass media look dazed and bewildered that, perhaps, the US is entering "back into recession". Almost all of them have been brainwashed at the Keynesian alter and actually think the US economy has been "growing". The truth of the matter is that the US has been in a depression since 2000. It's an highly inflationary depression, however, and it has managed to fool the great majority. Read More @ DollarVigilante.com
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| Silver - Weekly Chart and annotations Posted: 22 Sep 2011 03:20 PM PDT [url]http://www.traderdannorcini.blogspot.com/[/url] [url]http://www.fortwealth.com/[/url] Silver tends to get harder than gold during bouts of risk aversion related selling. That was made evident today as the metal lost nearly 10% during the session. Potential buyers who had been active on dips below the $40 level and ranging down towards $39 stepped out of the way of the herdlike fund liquidation removing the buying support beneath the market that had been putting a floor there. There are several minor bands of support between the present level and the critical $32.50 region. Whether it holds those depends on the extent of further risk aversion related selling. As long as this market holds above the $32.50 region on a weekly closing basis, it will be okay and will continue to consolidate, although within a larger range. If it fails there, the potential for a move towards $30 becomes likely. Bulls need to take price back above the $40 level to shake the confidence of the bears aft...
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| Alternative to the U.S. Dollar as the Reserve Currency Posted: 22 Sep 2011 01:57 PM PDT by David Morgan, Silver-Investor.com:
Action has been taken to move in this direction, for example Russia and China have agreed to do some trading using each others respective currencies bypassing the need to move into U.S. dollars. There have been rumors over the years that some of the North African nations, and Middle Eastern nations were wishing to settle the oil trade in Euro's rather than dollars. Read More @ Silver-Investor.com
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| The Financial Survival Network Interviews Chris Duane and Rick Ackerman Posted: 22 Sep 2011 01:38 PM PDT from The Financial Survival Network:
This posting includes an audio/video/photo media file: Download Now | ||
| Is Financial Instability The New Normal? Posted: 22 Sep 2011 01:32 PM PDT from The Economic Collapse Blog:
Read More @ TheEconomicCollapseBlog.com
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| Looks Like We Reached DEFCON I / Bourses Around World Tumble / Gold and Silver Attacked as Well Posted: 22 Sep 2011 01:17 PM PDT by Harvey Organ: Good evening Ladies and Gentlemen: Gold closed the comex session at $1739.20 for a loss of $66.30. Silver was whacked even harder falling by $3.82 to $36.54. The markets around the world tumbled as everyone read into Operation Twist as solving nothing. The Dow at 30 minutes before closing was down 500 points but did another Hail Mary and that cut short the losses as the Dow fell by 391 points. Most bourses around the world were down by 3 to 5% Let us head over to the comex and see the damage. Read More @ HarveyOrgan.Blogspot.com
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| What a Major Banking Crisis Would Do To the Gold Price? Part II Posted: 22 Sep 2011 01:00 PM PDT In the first part of this series of articles we pointed out the developing banking crisis and why we felt that was happening. When and how gold will have a central bank-approved role depends on the political agenda on both sides of the Atlantic. Commercial banks are already harnessing their gold to lower the cost and availability of international loans! Since the first part of this essay, there have been dramatic banking developments. Each of these has brought gold close to the day when it will have an active role in the global monetary system.
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| Posted: 22 Sep 2011 12:16 PM PDT Captain of the ship spoke sternly to the Chief Steward, "Red chairs on the port side, and blue ones on starboard." Such started a typical, icy cold morning on the Titanic. We imagine that the Chairman of the Federal Reserve ... Read More...
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| Gold technically weak - needs Asian buyers to become active Posted: 22 Sep 2011 11:55 AM PDT [url]http://www.traderdannorcini.blogspot.com/[/url] [url]http://www.fortwealth.com/[/url] The following chart provides a picture of the technically weak posture brought on by today's hedge fund selling barage. Asian buying had been providing very good support on dips below $1800, particularly into the $1780 zone. That buying was overwhelmed today by the West jettisoning gold as the algorithms were all tripped into the sell mode on account of the rallying Dollar. The result was to take gold through all of the support levels that had been holding it thus far. Both today's low and the 50 day moving average are the last line of technical chart support preventing a dip towards psychological support at the $1700 level. Below that, should it fail to hold, there is a former gap region near $1680 which should provide pretty solid support if this thing is going to stabilize. If not, it does have the potential to dip lower and move towards $1650. On the upside, it needs to get back above $180...
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| Posted: 22 Sep 2011 11:32 AM PDT Filed under: austerity measures, commodity futures trading, federal debt ceiling, federal reserve chairman ben bernanke, federal reserve system, fiat currencies, financial turmoil, gold bullion, gold price, index futures, silver futures 
This posting includes an audio/video/photo media file: Download Now | ||
| Trying to Understand the Market Meltdown Posted: 22 Sep 2011 11:31 AM PDT After the market meltdown continued today, Susie Gharib on the PBS Nightly Business Report is probably going to have that worried tone in her voice again tonight, replacing the twinkle that was in her eye all of last week when stocks rose for five straight days. In this video from Reuters, they try to explain what happened. It should be an interesting day tomorrow to close out the week. After today's losses for the Dow, all of last week's 517 point gain have been given up, along with another 250 points.
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| CFTC backs down on commodity trading rules Posted: 22 Sep 2011 11:03 AM PDT By Sarah N. Lynch, Christopher Doering, and Roberta Rampton http://www.reuters.com/article/2011/09/22/us-financial-regulation-limits... WASHINGTON -- The U.S. futures regulator has yielded on several contentious parts of a plan to crack down on commodity speculation, marking a modest victory for banks and traders who have lobbied to limit increased market oversight. A draft of the final rule by the Commodity Futures Trading Commission, reviewed by Reuters late on Wednesday, maintains that the Dodd-Frank Wall Street overhaul law requires position limits -- caps on the number of contracts a single trader can hold -- to prevent excessive speculation in oil, grain, silver and other commodity markets. But the CFTC modified areas of the plan that concerned big banks like Morgan Stanley and companies like Shell, including whether different arms of a single company must count separately managed positions as one, and whether swaps and futures positions can be offset. ... Dispatch continues below ... ADVERTISEMENT Zacks Starts Coverage of Golden Phoenix with 'Outperform' Rating Friday, September 9, 2011 SPARKS, Nevada -- Golden Phoenix Minerals Inc. (OTC Bulletin Board: GPXM) announced today that Zacks Investment Research has initiated coverage of the company with a comprehensive report giving a rating of "outperform." The Zacks report provides information about the company's business model, its royalty mining growth strategy, recent acquisitions, drilling plans, and gold production. The report is available at the Golden Phoenix Internet site here: http://goldenphoenix.us/pdf/GPXM_InitiationReport.pdf Golden Phoenix Minerals Inc. is a Nevada-based mining company whose focus is royalty mining in the Americas. Golden Phoenix is committed to delivering shareholder value by identifying, acquiring, developing, and joint-venturing gold, silver, and strategic metal deposits. Golden Phoenix owns, has an interest in, or has entered agreements with respect to mineral properties in the United States, Canada, Panama, and Peru, including the company's 30 percent interest in the Mineral Ridge gold project near Silver Peak, Nevada. Please visit the Golden Phoenix Internet site here: For the company's full announcement of the coverage by Zacks, please visit: http://goldenphoenix.us/press-release/zacks-investment-research-initiate... While sticking to an unpopular plan to phase in limits over time as the agency gathers more data on the opaque $600 trillion over-the-counter derivatives market, the proposal shows regulators responding to concerns raised by the financial industry and Republicans. U.S. regulators are also wrestling with how much leeway to give banks in hedging their own risk under the so-called Volcker rules, Reuters has reported. "At least they're listening to the industry, because people were concerned that Chairman (Gary) Gensler wasn't," a derivatives lawyer told Reuters. The final rule would still snag large passive index funds, which critics have blamed for causing a massive run-up in oil prices in 2008 by buying and holding futures contracts without regard to market fundamentals. "They've completely shut the door on risk management exemptions" for dealers trading for large passive funds, said one lawyer briefed on the final draft. It would also still have a major impact for the CME Group Inc and IntercontinentalExchange. The two largest futures exchanges in the United States have fretted that strict limits could drive trading overseas. Surging food and oil prices this year renewed political pressure on the agency to crack down on speculators, blamed by some for high prices. "The draft final rule on position limits, as currently written, is extremely weak," said Sen. Bernie Sanders, a staunch critic of the CFTC. "At a time when the American people are experiencing extremely high oil and gas prices, this proposal will do little or nothing to lower prices and it will not eliminate, prevent or diminish excessive speculation as required by the Dodd-Frank Act," he said. The 238-page draft, dated September 19, could still be subject to changes. The five-member commission and its staff have been divided on how to craft the rule. It is uncertain whether the CFTC will vote on the rule at its October 4 meeting as had been previously expected, according to one CFTC official. "It remains a work in progress... and our commissioners haven't fully weighed in yet," said CFTC spokesman Steve Adamske, who declined to comment on the details late Wednesday night. One key change in the final draft relaxes some proposed requirements for some large commodities players that have ownership stakes in entities that hedge, deal and speculate. The CFTC had initially wanted to add or aggregate positions for entities that share common ownership, regardless of whether they share trading strategies and control. The agency now would allow some players to avoid aggregating all the different positions in various trading accounts, provided those accounts are independently controlled and the companies impose vigorous firewalls between their trading desks. The CFTC said it may enhance market liquidity for bona fide hedgers and promote efficient price discovery. "It would be good news if they are going to relax that, it didn't seem to have a lot of justification," Julie Winkler, a managing director of the CME, told Reuters on the sidelines of a commodities seminar in London. The CFTC said index funds would not be exempt. They would have to aggregate for positions in accounts or pools with identical trading strategies, including passively managed index funds. The CFTC's rule maintains its proposal to apply position limits to the "spot month" immediately, but phase in limits for non-spot months after collecting 12 months of swap data. Traders have argued there is no evidence speculators inflate prices, and say curbs could make prices more volatile by removing liquidity and sending business to overseas markets. CFTC's own economists have not found a causal link between speculation and price volatility. "These changes still don't address the overall question - how will this rule impact liquidity and price discovery in these markets?" asked Frank Lucas, chairman of the Agriculture Committee, which oversees the CFTC. "The CFTC simply doesn't have the data to answer that question, and it shouldn't move forward until it does," he said. Another important change the industry has been seeking revolves around so-called "class limits." Initially, the CFTC said it would apply the formula to exchange-traded futures, related over-the-counter swaps, and across both those classes combined -- meaning traders would not necessarily be able to offset a short position in the swaps market with a long position in futures, as many do. Banks objected, saying that dealers hedge by relying on over-the-counter derivatives that mimic performance of exchange-traded futures. They had complained the CFTC plan would create a very distorted view. The CFTC said it would relax the class limits so traders exceeding the futures limit can use opposing positions that fall underneath the swaps limit to reduce their overall net position. The CFTC added it will revisit the issue. "While class limits can be an effective tool to address undue market power in a particular segment of the derivatives market, the commission has determined that such limits should not be imposed without additional data and analysis," the draft says. The CFTC's plan applies to 28 commodities and for most markets would be based on a formula of 10 percent of the first 25,000 contracts of open interest, and 2.5 percent thereafter. The CFTC is poised to expand the definition of who can claim exemptions from the limits as "bona fide hedgers" -- traders who use the market to protect themselves from price risk, as opposed to speculating on market moves. The expanded definition responds to traders who said the original definition was so narrow that some genuine hedging activities would be interpreted as speculation. The CFTC kept a provision requiring traders to comply with limits on a intraday basis despite concerns from firms such as Barclays over the difficulties of complying and sharing information on a real-time basis. Join GATA here: The Silver Summit http://cambridgehouse.com/conference-details/the-silver-summit-2011/48 New Orleans Investment Conference http://www.neworleansconference.com/ Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit:
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| Gold & The Future: First Computer Written Report Since 1999 Posted: 22 Sep 2011 10:49 AM PDT Gold and the Future first computer report since 1999 16 pages ...
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| Operation Twist and More Ways to Throw Money Down the Drain Posted: 22 Sep 2011 10:32 AM PDT Last we checked, the world of money was still falling apart, breaking off one chunk at a time. And, just as might be expected, those trying to "fix" it were still busy hastening its demise. Some people never learn. More on that in a moment. First, a none-too-subtle analogy… Your editor spent much of the past week trekking around Los Glaciares National Park, down in the Santa Cruz province in Argentine Patagonia. Our folks are in town from Australia, catching up with their walkabout son and his gypsy girlfriend. There's not a lot of glacier parks back on the "sunburned continent," so we thought a few days in crampons and thermals, hiking over the freezing ice pack, might make for a fun little excursion. Besides, nothing clears your mind quite like a sub-zero gust fresh off a snowy peak. The Perito Moreno glacier is one of a small handful of glaciers in the world still thought to be growing. It's gained approximately 700 meters in length since some intrepid adventurers discovered and mapped it sometime in the late 1800s. Top to bottom it measures roughly 200 meters in thickness, although only about one sixth of that can be seen above water. The "front" of the glacier, where all the calving takes place, is nearly five kilometers from side to side. There is something rather humbling about watching a chunk of ice the size of an apartment block fracture, break off from the main body, and tumble into the icy waters below. Standing atop the Perito Moreno glacier itself, you can see the snow-capped mountains of the Austral Andes rise up spectacularly on either side, as the glacier underneath you creeps down the river in between, moving quickest in the middle, where there is less resistance, and slowest at the edges, where it clings to the shallow banks. It's this difference in speeds — as well as in pressure, tension, depth, friction, etc. — that cracks and splits the glacier, giving it that spiky, other-worldly kind of look, full of crevices and drain holes that disappear into a deep blue abyss beneath the surface. Hold that thought… Scanning the headlines this morning, it looks as though nothing major has changed in the world of finance and economics. There are daily announcements, of course, incidentals, talking points and chin-wagging "power lunches," but the larger, more important trend is already underway…and it ain't changing course. That trend, as we keep saying, has to do with debt…and the slow, painful march toward correcting it, breaking it up, destroying it. Greece, for example, is as broke today as when we left it. Maybe more so. The yield on its 2-year government bonds is now over 134%. Well, that was yesterday…who knows what it is today? Who cares? The Greeks are going under. The market is expecting a default. It will get it. And Spain, Portugal and Italy are not far behind. All have their hands out for more funding. All are clinging to the continent for dear life. But all will have to reckon with their debts eventually, one way or another…chunk by chunk… "A deepening crisis of some kind is certain," opined Eric Fry in yesterday's reckoning, "especially because the US economy is still reeling from the credit crisis of 2008. Fearing a repeat of '08, the US Federal Reserve is springing into action, which pretty much guarantees a repeat. Earlier today, the Fed christened the launch of "Operation Twist" — a scheme to buy up a bunch of the long-term Treasury bonds… "Operation Twist," continued Eric, "is simply a new form of Quantitative Easing, which was simply a new form of printing money out of thin air. (The Fed says it will pay for its new purchases with proceeds from the sale of the short-dated Treasuries it already owns. We don't believe it. By hook or by crook, the Fed's balance sheet will probably grow over the next few months. We will be watching). Op Twist, therefore, is merely the next illogical step in a regrettable progression toward dollar debasement. After Op Twist, look for Operation Contort, Operation Zig-Zag, Operation Bait-and-Switch, Operation Capital Control and ultimately, Operation Devalue." "Op Twist," we now learn, is to be a $400 billion dollar effort — much bigger than the market was expecting. Why "more action" is the order of the day, we don't know. The economy is in tatters, even after trillions of quantitatively eased dollars were pumped into the system. The Fed even said so itself. Its own statement noted "significant downside risks to the economic outlook, including strains in global financial markets." If these magic elixirs are so helpful, so desperately needed, so critical for economic health and vitality, then why the soggy outlook? Fellow Reckoners already know the answer. There are no magic elixirs. No potions. No panaceas. No "free lunches." Investors, for their part, appear to be finally catching on. Just as they "re-re-discovered" Europe today, they also "re-re-learned" that the US Federal Reserve can do nothing to reverse the laws of economics; not with twists…not with zigs…and not with zags. Worldwide, markets are down big time. Measures in London, France and Germany were all off by about 5%, as was Hong Kong's Hang Seng. Indonesia's Jakarta Composite Index fell by 9% overnight! In the US, too, trading screens are bleeding red. The S&P500, Dow and Nasdaq were all lower by about 4% as of this writing. So much money…so heavy an opportunity cost…so much do-gooding and fixing, tinkering and world-improving. And for what? To delay the inevitable? To worsen the crisis that must eventually come due? Seems like a waste of time to us. Besides, what's wrong with a little creative destruction from time to time? Why not stand back and allow some much needed debt destruction in the US? How about a fierce round of currency calving in Europe? Why not let nature take its course? Why not, as Bill suggests below, "give collapse a chance"? In the end, it probably won't matter whether the Feds "allow" collapse or failure to happen. Our money says, they'll get it either way. Joel Bowman Operation Twist and More Ways to Throw Money Down the Drain originally appeared in the Daily Reckoning. The Daily Reckoning provides 400,000+ readers economic news, market analysis, and contrarian investment ideas. The 5 Best Ways to Invest in Gold was previously featured in the Daily Reckoning.
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| India’s Gold Consumers Are Becoming Investors Posted: 22 Sep 2011 10:00 AM PDT Author: Vedran Vuk Synopsis: Long a gold-loving country, India's consumers are switching their interest in the metal from jewelry to investments. What might this trend signify for the price of gold, as well as its seasonal swings? Dear Reader, When the Federal Reserve announced exceptionally low rates until mid-2013, I thought to myself, "Just when the Fed couldn't get any worse, it does." Now, with Bernanke's new plan to purchase $400 billion of long-dated Treasuries over the next year, the situation has grown even more dire. So let's see where this puts us. The Fed's policies got worse than I thought possible and then worsened more from there. Note that I'm a pretty pessimistic guy when it comes to the Fed… but I'm not the only one concerned here. Bernanke has pretty much gone vigilante. This isn't about Keynesian economics versus Austrian economics any more. Ev...
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| Aden Sisters: Buy Gold NOW as it Corrects on its Way to $2,000 Posted: 22 Sep 2011 09:51 AM PDT When you just consider the downgrade of U.S. debt, the jobs problem, the housing situation, the European bank concerns and their debt crisis, the negative outlook for the global economy, not to mention that the Fed will likely seek new measures to help the economy, we just don't see gold coming down any time soon, other than having a normal downward correction [as currently is the case. Let us show you why.] Words:* 1102 So say Mary Anne & Pamela Aden ([url]www.adenforecast.com[/url]) in an article* which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has further edited ([* ]), abridged (…) and*reformatted*below*for the sake of clarity and brevity to ensure a fast and easy read. The author's views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.* The Adens go on to say: [INDENT...
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| Notorious B.I.G.G.S. Flip Flops Again, Bottom-Ticks Market Posted: 22 Sep 2011 09:41 AM PDT The last several times Barton Biggs was on TV we laughed, we cried, we laughed much more, but most importantly we faded every word out of his confused mouth with as much leverage as the CME would allow us (at last check margin requirements on Biggs Ultra Shorts had not been hiked in a while). After all could anyone top tick the market better than the Notorious BIGGS who on August third and fourth predicted a 7-9% rally in the S&P, only to realize a month later that he may have 99 (redemption) problem but a Biggs AUM ain't one. Even more conclusive proof that old people should take their RDA of geritol and Gingko Biloba came two short weeks later, when the same former Morgan Stanley (what is it about that bank and producing some of the worst asset pickers known to man?) strategist told Bloomberg "I don't see all the bad news that you keep citing." It then took him only a month to see preciseley all the bad news that Bloomberg keeps citing. According to a just released comedic appearance by Bloomberg TV, the BIGgster is now only 20% net long, down from 85% 6 months ago. Said otherwise redemptions are rolling in. The is further confirmed by his statements: "I wish I was minus 20," and so do your LPs. "I wish I was zero. I don't think any place is a place to invest." The slurring continues: "I want to see an important stimulus program in the United States, combined with major reform in social security, Medicare and our defense budget. If we did that, we could have a 20 percent rally." Likewise, as much as we wish we had a magic stick made of gold to beat idiots on the head with, we don't. Which lead Bart-o to the following statement: "Markets are telling policy makers that they've got to change and act or we're going to go into a double-dip recession, and we're going to go down another 20 percent." Yes ladies and gents, the age old 100% guaranteed trade of fading old faithful means it is now time to go dodecatuple down all in the market and mortgage that 4th unborn generation: the direction has been called. In the meantime, to watch an old white man not quite hiphopping, but certainly quoting "old negro spirituals", watch the rest.
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After a long day, I knew I had to post something for you. If anything we have to start a new thread because the old one is now over 600 comments. I could take what has become the usual theme and expand on it but I'm not going to. No charts tonight. Just a brief, frank discussion about what is to come.
Several articles have appeared in the mainstream press over the past several months discussing some alternative to the U.S. dollar as the reserve currency of the world. Special Drawing Rights (SDR) sponsored by the International Monetary Fund (IMF) has been mentioned. Some time ago, an article on Reuters indicated a United Nations panel has decided much of the world would like to move away from the American currency as the world's reserve currency. This panel wanted to look into a "basket of currencies" or perhaps another entirely different, new currency to replace the U.S. dollar. Additionally, both the Russians and Chinese have indicated similar concerns.
The financial world is officially going crazy. Can you believe what is going on out there right now? Financial markets have been jumping up and down like crazy for months and this is creating a lot of fear. Other than during the financial crisis of 2008, in the post-World War II era have we ever experienced as much financial instability as we are seeing right now? Should we just accept that massive financial instability is going to be part of "the new normal" in the financial world? The wild swings that we are witnessing in the global financial marketplace are making a whole lot of people very nervous right at the moment. When markets go up, they tend to do it slowly and steadily. When markets go down, a lot of times it can happen very rapidly. Also, as I have mentioned before, more major stock market crashes happen during the fall than during any other time of the year. The last major financial crisis happened during the fall of 2008, and things are starting to look a little bit more like 2008 with each passing day. The last thing the global economy needs right now is another major financial meltdown, but that may be exactly what we are about to get.| You are subscribed to email updates from Save Your ASSets First To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
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