Gold World News Flash |
- States to Financially Break Away from Federal Government
- A Speedometer, GPS Device and Direction Finder
- SGTreport EXCLUSIVE: “SILVER OVERSOLD, This is a Lisence to Steal” – David Schectman
- Utah Sound Money Conference
- Europe Must Fight Back Against US-UK Speculative Attacks
- The Anglo-American Precious Metals Derivatives Duopoly: Quarterly OCC Report
- Korelin Cam: David Morgan on Silver's Future
- Meltdown: A Global Financial Tsunami (Pt. 2)
- Goldman's Jim O'Neill: "Let's Worry About Everything"
- Goldman's Jim O'Neill: "Let's Worry About Everything"
- Michael Pento: Why Investors Should Buy Gold Now
- Are Silver and Copper Prices Predicting a Global Recession?
- Europe's Debt Crisis and Its Effect on Gold
- Will A China Economic Slowdown Affect Gold?
- Is Gold and Silver Rally Likely at the Moment?
- Gold In "Not Safe Haven" Shocker
- Boost for Athens as Qatar invests $1bn in Greek gold
- Boost for Athens as Qatar invests $775m in Greek gold
- Michael Pento - Why Investors Should Buy Gold Now
- Platinum:Gold Ratio Screams ?Buy Platinum?!
- Third Point Down 3.6% In September: Liquidations To Shift From Gold Back To Stocks Next?
- GoldMoney's James Turk interviews Dimitri Speck about central bank gold leasing
- Gold Is NOT a Safe Haven
- The Great Panther Silver Miners Challenge Officially Begins
- Dilbert on Gold (and MBAs)
- Gold, Silver Speculative Longs Plunge To March 2009 Levels
- Stunning OI Numbers / Huge Number of Gold Ounces Standing in Oct / Markets Tumble Globally
- Goldman's European Clients Are Oblivious About Developments In Europe
- Goldman's European Clients Are Oblivious About Developments In Europe
- Gold price suppression is 'conspiracy theory' only to those who won't look at facts
| States to Financially Break Away from Federal Government Posted: 01 Oct 2011 05:15 PM PDT This is the most important message I have ever sent. Earlier this week I attended the Utah Monetary Summit in Salt Lake City, Utah. As you may know, the state of Utah passed a Legal Tender Act earlier this year authorizing the use of federally minted gold and silver coins as money in the state of Utah. Now, legislators in other states, many of whom attended the Monetary Summit, are evaluating similar legislation. Among other things, this means the United States is approaching a Constitutional crisis because states are beginning to financially break away from the federal government. This is no less serious than the American War of Independence or the War Between the States. The Utah Monetary Declaration (below) is a financial declaration of independence whereby states are beginning to opt out of the Federal Reserve System...
|
| A Speedometer, GPS Device and Direction Finder Posted: 01 Oct 2011 04:43 PM PDT [B]Let me say up front that the bull market in gold, silver and the XAU is not over. If it were over, someone, somewhere, somehow reinvented the economic wheel of fortune. [/B] [B]The past month has indeed been depressing. In the past 30 days, we have experienced an 11% loss in gold, 28% in silver and 15%in the XAU. These events are part of the sentiment repricing process within a current emotional context and tug-of-war between fear and greed. [/B] [CENTER] [B]Outlook[/B][/CENTER] [B]The gold, silver and XAU markets are all very close to a significant major bottom on a longer term basis. We are not there yet but real close. [/B] [B]Clearly, we are in a zone of on sale prices and opportunity areas. In particular, gold/silver stocks are being valued like charitable donations on a bread line.[/B] [B]As previously stated, it is my assessment we are in the area of Part 2 of the downturn in the XAU/Gold ratio that first occurred in 2008. This second potential bottom should end at a...
|
| Posted: 01 Oct 2011 04:39 PM PDT This is an in-depth silver and gold update with Miles Franklin precious metals founder David Schectman. David says the bottom in precious metals is near, from both a practical and technical standpoint. David believes that silver in particular is vastly oversold and that the current low prices in the metals "is a gift, courtesy of the bullion banks." SILVER OVERSOLD "It's a License to Steal" – Part 1 THIS IS A GIFT Courtesy of the Bullion Banks – Part 2
|
| Posted: 01 Oct 2011 03:43 PM PDT by David Morgan, Silver-Investor.com:
For the first time since 1971, gold and silver are once again considered legal tender in at least one part of the United States. The State of Utah passed the "Utah Legal Tender Act," which "recognizes gold and silver coins that are issued by the federal government as legal tender in the state and exempts the exchange of the coins from certain types of state tax liability." The law, signed by Governor Gary Herbert on March 25, is a voluntary system that provides an alternative to the fiat-based Federal Reserve notes that are created out of thin air in unprecedented proportions. The most significant change from a practical perspective is that the Utah's state tax code now considers gold and silver coins issued by the U.S. Mint as currency rather than an asset, which means since it is considered money it cannot be taxed. However, federal taxes still apply on these transactions. Read More @ Silver-Investor.com
|
| Europe Must Fight Back Against US-UK Speculative Attacks Posted: 01 Oct 2011 03:39 PM PDT by Webster G. Tarpley, Ph.D., Tarpley.net: The speculative attack by Wall Street and City of London banks and hedge funds against European countries, European banks, and the euro is now reaching a crescendo. The current European crisis does not derive primarily from economic fundamentals, but rather represents a cynically planned assault carried out by Anglo-American financiers, whose philosophy is the traditional Beggar My Neighbor. The goal is to shift the epicenter of the world economic and financial depression from London and New York onto the continent of Europe, and this operation has already partially succeeded. London and New York are exporting their own derivatives depression into the EU, using credit default swaps, corrupt credit ratings agencies, and their entire panoply of financial dirty tricks. We are not dealing here with the normal functioning of markets; we are dealing with all-out economic warfare. The Wall Street zombie bankers are aiming at a chaotic breakup of the euro with the intention of buying up the old continent at bargain-basement prices. The jackals of the City of London are seeking to smash the euro as a means of breathing new life into the moribund British pound, thereby masking the fact that Britain is more bankrupt than the vast majority of EU member states. The Anglo Americans are also acting to destroy the euro as a possible competitor for the dollar in the role of world reserve currency for the pricing of oil, the activities of international lending institutions, and other functions. The dollar is now so weak and unstable that it can only survive through the downfall of all the alternative currencies.
|
| The Anglo-American Precious Metals Derivatives Duopoly: Quarterly OCC Report Posted: 01 Oct 2011 03:34 PM PDT from Jesse's Café Américain:
The report includes "all insured U.S. commercial banks and trust companies as well as other published financial data." So obviously it is not comprehensive of private funds, and banks without a US subsidiary presence. The archives go back to 1998, but it is quite clear that the report is not so interesting prior to the repeal of Glass-Steagall and the Gramm-Leach-Bliley Act, also known as the Commodity Futures Modernization Act of 2000. The report shows that JPM has about 80 percent of the gold derivatives in the world on its book, with HSBC holding the other 20 percent. And in other commodities, JPM holds a similar position as well as part of their overall $78 trillion derivatives book which is heavily dominated by interest rate and credit derivatives. But hey, that's without netting, right? Oh yeah, counter-party risk. Read More @ JessesCrossRoadsCafe.Blogspot.com
|
| Korelin Cam: David Morgan on Silver's Future Posted: 01 Oct 2011 02:12 PM PDT |
| Meltdown: A Global Financial Tsunami (Pt. 2) Posted: 01 Oct 2011 01:57 PM PDT |
| Goldman's Jim O'Neill: "Let's Worry About Everything" Posted: 01 Oct 2011 12:38 PM PDT Presenting some deeply philosophical observations from the man who has been wrong about pretty much everything, and to whom the jarring return of reality and its relentless destruction of the ivory towers he has carefully erected his entire career, can only be described as "surreal." No Jim - it's not surreal. It is all too real. The only surreal thing will be the response when GSAM's LP get their year end performance statement. Let's Worry About Everything From Goldman Sachs Asset Management Chairman, Jim O'Neill On Friday in Paternoster Square outside our London offices, there was an Abba tribute band entertaining lunchtime workers in this gorgeous Summer sunshine we are enjoying. I ate my sandwich watching them. It was a beautiful distraction from the prevailing mood of the markets and the economic world. Of course, at the true Abba's pomp in the late 1970's, the world wasn't in a particularly great shape either, so maybe there was something symbolic about it all. Much of the latter end of the last week has felt rather surreal to me, as much of the economic data and comments from companies have been rather benign. And yet, markets continued to explore the grimmer angles. This was highlighted by the release of the much-better-than-expected Chicago ISM at 60.4, yet the US markets spent the afternoon weakening as the gloomy mood prevailed. It wasn't just the Chicago ISM that was better than expected. Despite the widespread view of the inevitability of a European and US recession, German data continues to be rather benign with another better-than-expected employment report, this time for September. Unemployment fell 26k, with the rate dropping to 6.9 pct. China has published a better- than-expected PMI for September, coming in at 51.2, Korean exports are holding up well, but in this mood, the markets will no doubt find some holes in these too. Perhaps Korea has started exporting to Jupiter? It should have been a better week. Following the annual IMF meetings, there is some serious discussion of a "big bang" solution to the European problems. And, the German parliament passed the EFSF, somewhat easier than many had feared. Judging by the price action, market participants seem to be increasingly convinced of imminent recessions in Europe and the US as well as a prolonged period of "Japanisation," in which positive GDP growth struggles to keep ahead of a weaker underlying growth trend. If this prospect weren't grim enough, the notion of a "hard landing" in China is back on people's minds with a number of participants promoting the idea, and many newspapers honing in on challenges in the property markets and financial sector. What is the matter with everyone? Take a look at what happened in the 1980's – after Abba played their last live concert in late 1982 – the world did rather better than expected. FOREIGN BUYING OF JGB'S! It all seems a bit surreal. Here is a story that highlights the weird state of everyone's mind. "Foreigners flock to JGBs as Europe continues to flounder" ran the headline on page 6 of this week's English version of the weekly Japanese Nikkei newspaper. According to the story, foreign holdings of JGBs have risen to 7.4 pct by the end of June 2011, up from 6 pct a year ago. More recent data suggests the trend will continue. Why are foreign investors doing this when all anyone talks about is the sovereign debt problem? On exactly comparable data, Japan's debt-to-GDP ratio is two and half times worse than the Euro Area at around 220 pct of GDP. I often appreciate the argument that JGBs won't weaken because of the internal demand amongst high savers and due to the support from the BOJ. But, for foreign investors to add to their holdings strikes me as most peculiar. Neither the yield nor level of the Yen can be a sensible explanation, so it must simply boil down to some odd combination that a number of central bank reserve holders have too much spare cash, and they know that Japan is not part of EMU. US DOLLAR BREAK OUT. Sticking with the surreal, since the start of September, the Dollar has strengthened against many currencies. Indeed, it has managed to break above its 200 day moving average against virtually all cross rates that matter to the US, except for the RMB and – bizarrely – the Yen. I spent quite a bit of time over the past couple of days talking about why the Dollar is doing this with a number of analysts. Virtually all of them seem to think it is not that big a deal, and is purely attributable to "risk off" behavior and perhaps a repeat of the 2008-like scramble for Dollar liquidity. I can't see the case for sustained US$ strength against many "Growth Market" currencies. In fact, on the contrary, the $ should resume weakening against most of them through time. That said, I can see the case for a partial further $ recovery against the Europeans, perhaps the BRL, and some other liquid developed currencies. The Dollar has been significantly undervalued, the US external balance is slowly improving, the US is not as cyclically challenged as a number of others, especially Europe, and the forthcoming marginal policy developments in terms of monetary and fiscal policy, are perhaps not going to be US$ negative compared to others. On top of all of this are the major Swiss policy developments. And, as I wrote back at the time, "Swiss never lies". It looks as though it isn't lying this time either. While many associate the Dollar move as another "bad" sign for the equity markets and confirmation of other darkening signals, there is no reliability about the consequences of the Dollar breaking above its 200 day moving averages, either as a precursor to sustained Dollar strength, or its consequences. More often than not as Neeti Bhalla from our ISG group pointed out to me, the S+P has been higher at specific 3-, 6- and 12-month internals following such breaks of the Dollar in the era of floating exchange rates. 2008 was a notable exception but there are many instances when the Dollar has appreciated for good , not bad reasons. As for the future performance of the Dollar itself, time will tell, but if the US economy manages to keep on " creeping" through despite all, perhaps this bounce has more to it than many suspect, at least for a while. If sanity were to prevail, you might expect $/Yen to join the picture, but that is still far from clear despite the better close for the week. UK ADJUSTED PLAN A? To complete the political party season, the Conservative party starts its meeting this weekend in Manchester. I spent a breakfast with some of their faithful yesterday, and while they interpret the opposition's stance on business and finance as good news for them, they all seem as worried about everything as many others. The big question in my mind is whether the Chancellor will give any hints of, if not a Plan B, a slight adjustment to Plan A? The case for such a move is pretty overwhelming, and sticking with the 1970's theme, perhaps some regionally-geared infrastructure financing might not go amiss. There appears to be rising talk of the case for a Government Bank also, which is more like the 1950's. I have to say that I find the argument quite compelling, and have for some time, having published a couple of pieces suggesting the idea back in 2008. After all, if you own the majority of some financial institutions and require more lending in the country's national interest, then why not take all 100 pct and go for it? PUTIN'S BACK. I could have devoted the Viewpoint to this topic and I shall return to it in coming weeks. If it hadn't been so conceivable, this development could easily sit in the surreal bucket also. I expect an increase in the intensity of emails I receive suggesting the removal of the R from BRIC. I know many close to Medvedev are most disappointed, and this for me is disappointing, but as one wag wrote, while they thought they were working for the other side, the other side was working for the other side...quite remarkable. For those of us who do not live in Russia, I do think we all need to remember that Russia likes its strong leaders, and if this transition is peaceful and things remain stable, that will be more than a decade of stability, which for Russia, is quite an achievement. THE EURO MESS. As I said at the start, this should have been a "better" week with the noises emanating from DC and Germany passing the expanded EFSF package. I guess one can only conclude that things have moved on so much, that the market's reaction this week is that the "big bang" ideas are necessary because we are heading for the worst in Greece. This week, we will publish our Monthly Insights and it will be devoted to the issues of EMU and reflect back on much of the discussions we have had about the problems, including a special section from Jonathon Bayliss, who heads up the European Government investing team and has been so on top of all the issues. The bottom line for me is this: the November G20 is likely to be a major point of inflection, which will either resurrect life or leave us in deep hibernation through the Winter. We need to have by then a credible path for Greece, elements of the big bang in terms of bank recapitalization, and collective buy-in from all of Europe's key players. Not much to ask for... CHINA. THE REAL THING OR A HARD LANDING? Monday's FT carried the following headline on the front of its second section, "China the real thing for business rather than the US, says Coke chief". Expanding on the fact that China now accounts for 7 pct of Coke's global business and the first half of 2011 saw them double their sales from 5 years ago, the CEO elaborated about how welcoming many regions of China were to them, and contrasted it with the deteriorating picture in the US. I picked up this same theme at an Economists' conference on Growth Markets that I had the pleasure of being the closing speaker at on Friday. But back in the surreal world of markets, my inbox was full of really gloomy stuff about hard landings, property collapses, major NPLs and so on. As I said earlier, "what is the matter with everyone?" It is pretty obvious that you will have some failed property lenders, where a country's policymakers deliberately choose to stop a strong rise in property prices before it gets out of hand like the US and Europe, as the Chinese have done in the past 2 years. I can't understand why it therefore translates into a "hard landing". The Chinese property market has some issues because of deliberate policy. In fact, it is remarkably impressive, and a huge contrast to virtually any evidence I can see from my days in the markets, that a policymaker would choose to prick a property bubble before it gets to the stage that we all know only too well. China, as I have written about now for nearly a year, has entered a new phase of development where the quality of growth matters more than the pure quantity, and with it, the sustainability of growth. This would suggest that the next 5 years would see an outcome closer to the 7.5 pct average, which the 5 year plan assumes. As a critical part of it, the Chinese consumer is going to be more important, which is why, for me, the Coke CEO's comments are more pertinent than all the nonsense flying around the fast money crowd this week. In the coming weeks, the key in all this will be Chinese inflation, and judging from the chart of agriculture prices that GS's Yu Song sent me Friday, it is coming down. Once that happens, talk of a hard landing will dissipate. Enjoy the sunshine if you are lucky enough to have what we have in the UK this weekend.
|
| Goldman's Jim O'Neill: "Let's Worry About Everything" Posted: 01 Oct 2011 12:38 PM PDT
Presenting some deeply philosophical observations from the man who has been wrong about pretty much everything, and to whom the jarring return of reality and its relentless destruction of the ivory towers he has carefully erected his entire career, can only be described as "surreal." No Jim - it's not surreal. It is all too real. The only surreal thing will be the response when GSAM's LP get their year end performance statement. Let's Worry About Everything From Goldman Sachs Asset Management Chairman, Jim O'Neill On Friday in Paternoster Square outside our London offices, there was an Abba tribute band entertaining lunchtime workers in this gorgeous Summer sunshine we are enjoying. I ate my sandwich watching them. It was a beautiful distraction from the prevailing mood of the markets and the economic world. Of course, at the true Abba's pomp in the late 1970's, the world wasn't in a particularly great shape either, so maybe there was something symbolic about it all. Much of the latter end of the last week has felt rather surreal to me, as much of the economic data and comments from companies have been rather benign. And yet, markets continued to explore the grimmer angles. This was highlighted by the release of the much-better-than-expected Chicago ISM at 60.4, yet the US markets spent the afternoon weakening as the gloomy mood prevailed. It wasn't just the Chicago ISM that was better than expected. Despite the widespread view of the inevitability of a European and US recession, German data continues to be rather benign with another better-than-expected employment report, this time for September. Unemployment fell 26k, with the rate dropping to 6.9 pct. China has published a better- than-expected PMI for September, coming in at 51.2, Korean exports are holding up well, but in this mood, the markets will no doubt find some holes in these too. Perhaps Korea has started exporting to Jupiter? It should have been a better week. Following the annual IMF meetings, there is some serious discussion of a "big bang" solution to the European problems. And, the German parliament passed the EFSF, somewhat easier than many had feared. Judging by the price action, market participants seem to be increasingly convinced of imminent recessions in Europe and the US as well as a prolonged period of "Japanisation," in which positive GDP growth struggles to keep ahead of a weaker underlying growth trend. If this prospect weren't grim enough, the notion of a "hard landing" in China is back on people's minds with a number of participants promoting the idea, and many newspapers honing in on challenges in the property markets and financial sector. What is the matter with everyone? Take a look at what happened in the 1980's – after Abba played their last live concert in late 1982 – the world did rather better than expected. FOREIGN BUYING OF JGB'S! It all seems a bit surreal. Here is a story that highlights the weird state of everyone's mind. "Foreigners flock to JGBs as Europe continues to flounder" ran the headline on page 6 of this week's English version of the weekly Japanese Nikkei newspaper. According to the story, foreign holdings of JGBs have risen to 7.4 pct by the end of June 2011, up from 6 pct a year ago. More recent data suggests the trend will continue. Why are foreign investors doing this when all anyone talks about is the sovereign debt problem? On exactly comparable data, Japan's debt-to-GDP ratio is two and half times worse than the Euro Area at around 220 pct of GDP. I often appreciate the argument that JGBs won't weaken because of the internal demand amongst high savers and due to the support from the BOJ. But, for foreign investors to add to their holdings strikes me as most peculiar. Neither the yield nor level of the Yen can be a sensible explanation, so it must simply boil down to some odd combination that a number of central bank reserve holders have too much spare cash, and they know that Japan is not part of EMU. US DOLLAR BREAK OUT. Sticking with the surreal, since the start of September, the Dollar has strengthened against many currencies. Indeed, it has managed to break above its 200 day moving average against virtually all cross rates that matter to the US, except for the RMB and – bizarrely – the Yen. I spent quite a bit of time over the past couple of days talking about why the Dollar is doing this with a number of analysts. Virtually all of them seem to think it is not that big a deal, and is purely attributable to "risk off" behavior and perhaps a repeat of the 2008-like scramble for Dollar liquidity. I can't see the case for sustained US$ strength against many "Growth Market" currencies. In fact, on the contrary, the $ should resume weakening against most of them through time. That said, I can see the case for a partial further $ recovery against the Europeans, perhaps the BRL, and some other liquid developed currencies. The Dollar has been significantly undervalued, the US external balance is slowly improving, the US is not as cyclically challenged as a number of others, especially Europe, and the forthcoming marginal policy developments in terms of monetary and fiscal policy, are perhaps not going to be US$ negative compared to others. On top of all of this are the major Swiss policy developments. And, as I wrote back at the time, "Swiss never lies". It looks as though it isn't lying this time either. While many associate the Dollar move as another "bad" sign for the equity markets and confirmation of other darkening signals, there is no reliability about the consequences of the Dollar breaking above its 200 day moving averages, either as a precursor to sustained Dollar strength, or its consequences. More often than not as Neeti Bhalla from our ISG group pointed out to me, the S+P has been higher at specific 3-, 6- and 12-month internals following such breaks of the Dollar in the era of floating exchange rates. 2008 was a notable exception but there are many instances when the Dollar has appreciated for good , not bad reasons. As for the future performance of the Dollar itself, time will tell, but if the US economy manages to keep on " creeping" through despite all, perhaps this bounce has more to it than many suspect, at least for a while. If sanity were to prevail, you might expect $/Yen to join the picture, but that is still far from clear despite the better close for the week. UK ADJUSTED PLAN A? To complete the political party season, the Conservative party starts its meeting this weekend in Manchester. I spent a breakfast with some of their faithful yesterday, and while they interpret the opposition's stance on business and finance as good news for them, they all seem as worried about everything as many others. The big question in my mind is whether the Chancellor will give any hints of, if not a Plan B, a slight adjustment to Plan A? The case for such a move is pretty overwhelming, and sticking with the 1970's theme, perhaps some regionally-geared infrastructure financing might not go amiss. There appears to be rising talk of the case for a Government Bank also, which is more like the 1950's. I have to say that I find the argument quite compelling, and have for some time, having published a couple of pieces suggesting the idea back in 2008. After all, if you own the majority of some financial institutions and require more lending in the country's national interest, then why not take all 100 pct and go for it? PUTIN'S BACK. I could have devoted the Viewpoint to this topic and I shall return to it in coming weeks. If it hadn't been so conceivable, this development could easily sit in the surreal bucket also. I expect an increase in the intensity of emails I receive suggesting the removal of the R from BRIC. I know many close to Medvedev are most disappointed, and this for me is disappointing, but as one wag wrote, while they thought they were working for the other side, the other side was working for the other side...quite remarkable. For those of us who do not live in Russia, I do think we all need to remember that Russia likes its strong leaders, and if this transition is peaceful and things remain stable, that will be more than a decade of stability, which for Russia, is quite an achievement. THE EURO MESS. As I said at the start, this should have been a "better" week with the noises emanating from DC and Germany passing the expanded EFSF package. I guess one can only conclude that things have moved on so much, that the market's reaction this week is that the "big bang" ideas are necessary because we are heading for the worst in Greece. This week, we will publish our Monthly Insights and it will be devoted to the issues of EMU and reflect back on much of the discussions we have had about the problems, including a special section from Jonathon Bayliss, who heads up the European Government investing team and has been so on top of all the issues. The bottom line for me is this: the November G20 is likely to be a major point of inflection, which will either resurrect life or leave us in deep hibernation through the Winter. We need to have by then a credible path for Greece, elements of the big bang in terms of bank recapitalization, and collective buy-in from all of Europe's key players. Not much to ask for... CHINA. THE REAL THING OR A HARD LANDING? Monday's FT carried the following headline on the front of its second section, "China the real thing for business rather than the US, says Coke chief". Expanding on the fact that China now accounts for 7 pct of Coke's global business and the first half of 2011 saw them double their sales from 5 years ago, the CEO elaborated about how welcoming many regions of China were to them, and contrasted it with the deteriorating picture in the US. I picked up this same theme at an Economists' conference on Growth Markets that I had the pleasure of being the closing speaker at on Friday. But back in the surreal world of markets, my inbox was full of really gloomy stuff about hard landings, property collapses, major NPLs and so on. As I said earlier, "what is the matter with everyone?" It is pretty obvious that you will have some failed property lenders, where a country's policymakers deliberately choose to stop a strong rise in property prices before it gets out of hand like the US and Europe, as the Chinese have done in the past 2 years. I can't understand why it therefore translates into a "hard landing". The Chinese property market has some issues because of deliberate policy. In fact, it is remarkably impressive, and a huge contrast to virtually any evidence I can see from my days in the markets, that a policymaker would choose to prick a property bubble before it gets to the stage that we all know only too well. China, as I have written about now for nearly a year, has entered a new phase of development where the quality of growth matters more than the pure quantity, and with it, the sustainability of growth. This would suggest that the next 5 years would see an outcome closer to the 7.5 pct average, which the 5 year plan assumes. As a critical part of it, the Chinese consumer is going to be more important, which is why, for me, the Coke CEO's comments are more pertinent than all the nonsense flying around the fast money crowd this week. In the coming weeks, the key in all this will be Chinese inflation, and judging from the chart of agriculture prices that GS's Yu Song sent me Friday, it is coming down. Once that happens, talk of a hard landing will dissipate. Enjoy the sunshine if you are lucky enough to have what we have in the UK this weekend.
|
| Michael Pento: Why Investors Should Buy Gold Now Posted: 01 Oct 2011 10:43 AM PDT from King World News:
With the stock market plunging on Friday, gold ending the week at $1,625 and silver at $30, Michael Pento, of Pento Portfolio Strategies, explains for King World News readers globally the underlying reason stocks were plunging and why investors should be buying gold, "There are still many investors in full denial about the sad state of the U.S. economy (Mr. Buffet, are you reading this?) If you don't believe that America, and indeed most of the global economy, will be in a National Bureau of Economic Research recession in 2012, then take a look at the price of copper. Copper is now in an official bear market, as its dollar price has crashed from nearly $4.50 per pound in August to $3.14 a pound this past Friday." Michael Pento continues: Read More @ KingWorldNews.com
|
| Are Silver and Copper Prices Predicting a Global Recession? Posted: 01 Oct 2011 10:31 AM PDT Silver and copper have recently been going through their own private bear markets. Since the open on September 1st, silver futures have sold off by more than 25%. During the same time frame, copper futures sold off by around 24%. Both metals are extremely oversold, but lower prices are still possible. Are the bear markets in copper and silver an attempt to warn market participants that slower economic condition are ahead? Are equities going to take a huge hit on slower future growth?
|
| Europe's Debt Crisis and Its Effect on Gold Posted: 01 Oct 2011 10:20 AM PDT If you want to know the future, pay attention to the decisions European policymakers will have to make regarding debt, says Scott Gardner, chief investment officer at Verdmont Capital. In an exclusive interview with The Gold Report, he shares his analysis of debt policy investment implications, plus which gold mines Verdmont likes in Latin America and beyond. The Gold Report: In one of your June research reports you wrote, "In the Eurozone, there has been limited political will to really make an impact on the debt side of the equation. With gross domestic product (GDP) growth set to slow, things should really get interesting for euro policymakers as they attempt to make their shaky union work." In the Eurozone, there is more than adequate money to take care of the debt situation, but the question remains, is there enough political will to keep all the member countries inside the Eurozone? What sort of impact will pending Eurozone issues have on the gold price?
|
| Will A China Economic Slowdown Affect Gold? Posted: 01 Oct 2011 10:09 AM PDT After finishing the second quarter at $1,505, gold is on pace to finish the third quarter with its 11th consecutive quarterly gain. Although gold has been in a bull market for the past decade, recent concerns from a China slowdown are weighing on many markets. In September, gold prices and Asian stock markets had their worst monthly performance since October 2008.
|
| Is Gold and Silver Rally Likely at the Moment? Posted: 01 Oct 2011 10:04 AM PDT Although we had described the fall in precious metals prices, we can understand the shock for those who had gotten used to the idea that gold prices only go in one direction—up. A good metaphor here would be gold taking the stairs to go up, but the elevator to do down. Last Friday it was more like gold falling headlong down the elevator shaft with the worse one day drop in five years. It definitely got ugly, but that’s normal. It’s part of the game, part of the ride. Investors fled to the U.S. (fiat) dollar and to U.S. Treasuries (that just got downgraded last month by Standard & Poor’s.) Go figure! They have to settle their debt in dollars. The sharp decline was difficult to digest especially since we had come off a period in August where it seemed that gold could do no wrong. It shot up when markets plummeted, and shot up when markets soared.
|
| Gold In "Not Safe Haven" Shocker Posted: 01 Oct 2011 09:59 AM PDT If your house catches fire, do you call your insurer before trying to escape the flames...? SO GOLD is not a "safe haven" – that's the genius insight many pundits are pushing today.
|
| Boost for Athens as Qatar invests $1bn in Greek gold Posted: 01 Oct 2011 08:16 AM PDT The Qatari sovereign wealth fund, which owns Harrods, is investing $1bn (£641m) in European Goldfields, in what will be seen as a major boost for the ailing Greek economy. 
|
| Boost for Athens as Qatar invests $775m in Greek gold Posted: 01 Oct 2011 08:16 AM PDT The Qatari sovereign wealth fund, which owns Harrods, is investing $775m (£497m) in European Goldfields, in what will be seen as a major boost for the ailing Greek economy. 
|
| Michael Pento - Why Investors Should Buy Gold Now Posted: 01 Oct 2011 08:12 AM PDT  With the stock market plunging on Friday, gold ending the week at $1,625 and silver at $30, Michael Pento, of Pento Portfolio Strategies, explains for King World News readers globally the underlying reason stocks were plunging and why investors should be buying gold, "There are still many investors in full denial about the sad state of the U.S. economy (Mr. Buffet, are you reading this?) If you don't believe that America, and indeed most of the global economy, will be in a National Bureau of Economic Research recession in 2012, then take a look at the price of copper. Copper is now in an official bear market, as its dollar price has crashed from nearly $4.50 per pound in August to $3.14 a pound this past Friday."
This posting includes an audio/video/photo media file: Download Now |
| Platinum:Gold Ratio Screams ?Buy Platinum?! Posted: 01 Oct 2011 07:31 AM PDT These days there’s so much interest in gold and silver it can be easy to forget that there are a number of other precious metals out there that investors should be considering for their portfolios.* While gold and silver should form the core of any metals portfolio, there’s at least one other metal that merits serious attention and that is platinum. [Let me explain why.] Words: 493 So says Chris Horlacher ([url]www.mapleleafmetals.ca[/url]) , in an article* which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has further edited 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.* Horlacher goes on to say: [INDENT]You may have caught the odd story in the news where they reported a str...
|
| Third Point Down 3.6% In September: Liquidations To Shift From Gold Back To Stocks Next? Posted: 01 Oct 2011 07:26 AM PDT One of the sterling performers in the hedge fund arena so far has just Per Third Point:
And, in case we are right, now that gold has seen it dose of liquidations, hedgies will next move to dumping their stock holdings. Which means that as a preemptive attempt to defect first, the stock most held by hedge funds will be the first to go, particularly the winners among them. Conveniently, ss a reminder, here are the 50 most widely held hedge fund names as of June 30, per Goldman Sachs.
|
| GoldMoney's James Turk interviews Dimitri Speck about central bank gold leasing Posted: 01 Oct 2011 06:51 AM PDT 2:45p ET Saturday, October 1, 2011 Dear Friend of GATA and Gold (and Silver): GoldMoney founder and GATA consultant James Turk, who spoke at GATA's recent Gold Rush 2011 conference in London, interviewed gold market researcher and GATA consultant Dimitri Speck there about Speck's findings about central bank gold leasing, a major mechanism of gold price suppression. The interview is five minutes long and you can watch it at the GoldMoney Internet site here: http://www.goldmoney.com/video/speck-turk-interview.html?gmrefcode=gata CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Golden Phoenix Signs Definitive Agreement to Acquire and Reopen Santa Rosa Gold Mine in Panama Company Press Release SPARKS, Nevada -- Golden Phoenix Minerals Inc. (OTC Bulletin Board: GPXM) has signed a definitive agreement to acquire a 60 percent interest, with an option to buy an additional 20 percent interest, in the Santa Rosa gold mine in Panama, now owned by Silver Global S.A., a Panamanian corporation. Santa Rosa produced more than 100,000 ounces of gold from 1996 to 1998 before being closed in part to low gold prices, which are now more than five times higher. Golden Phoenix intends to acquire its initial 60 percent interest in Santa Rosa by acquiring 60 percent of the share capital of a recently created company under the name Golden Phoenix Panama S.A., formed to hold and operate the mine. Tom Klein, CEO of Golden Phoenix says: "The agreement establishes a solid framework from which we can advance Mina Santa Rosa to production-ready status." For Golden Phoenix's complete statement, please visit: http://goldenphoenix.us/press-release/golden-phoenix-signs-definitive-ac... 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:
|
| Posted: 01 Oct 2011 06:48 AM PDT |
| The Great Panther Silver Miners Challenge Officially Begins Posted: 01 Oct 2011 06:20 AM PDT May the best miner win! It's now official ladies and gentlemen: 101 Bullion Bulls will be duelling each other for bragging rights (and silver) in the 2011-12 Great Panther Silver Miners Challenge. From now through to the end of March 2012, our contestants will be cheering on their favorite gold and silver miner. Valuations for these miners are even more compressed than when last year's contest began, so expectations are high for an even more spectacular competition this year. With Great Panther Silver having won last year's competition with a 333% gain over the contest period, our Miners Challenge highlights the stellar investment potential of precious metals miners. From tiny micro-caps to multi-billion dollar gold miners, the 101 miners chosen represent the complete spectrum of gold and silver mining. Indeed, with over a hundred miners chosen there were still dozens of gold and silver miners which were not picked – as new miners continue to emerge on a monthly (if not weekly) basis in this thriving sector. Since our contestants are not competing only for the "glory", let's remind people of the prizes which have been donated by our contest sponsor, Great Panther Silver:
Now here is the official list of contestants for this year's Miners Challenge: |
| Posted: 01 Oct 2011 06:14 AM PDT
|
| Gold, Silver Speculative Longs Plunge To March 2009 Levels Posted: 01 Oct 2011 06:13 AM PDT While the drop in speculative interest in various currencies made news last week, it is the turn of precious metals to be the key focus in this week's summary of the CFTC's Commitment of Traders report. As the chart below demonstrates, as of Thursday September 27, both gold and silver saw a massive plunge in the net long non-commercial interest (the cleanest proxy of how speculators are positioned in gold and silver). This is not surprising, following last Friday's CME hike in gold and silver margins, and this week's follow through action by the Shanghai Gold Exchange. The drop of 22,278 and 7,113 contracts, in gold and silver, to 127,801 and 15,425 contracts, respectively, brings the net total exposure to the lowest it has been since the fear of deflation was the only thing on everyone's mind in March of 2009. What is perplexing is that the net spec interest in silver is about half where it was on December 31, 2010 even with silver unchanged on the year, while only 56% of the long spec gold contracts from the beginning of the year remain even as gold is still up 15% YTD! So while the drop is not unexpected, it is in fact beneficial for precious metal bulls as it means that the bulk of weak spec hands have evacuated the scene, and that any observations that gold and silver trades purely in tandem with spec interest are completely incorrect. This is also bad news for the CME as any additional margin hikes will have increasingly less impact. Lastly, it foes without saying that it would be delightfully ironic if the CFTC shows a net negative interest in non-commercial positions and gold is still be up for the year.
|
| Stunning OI Numbers / Huge Number of Gold Ounces Standing in Oct / Markets Tumble Globally Posted: 01 Oct 2011 06:02 AM PDT by Harvey Organ: Good morning Ladies and Gentlemen: (amended commentary) Gold on Friday rebounded nicely to the tune of $4.90 to rest at comex closing time at $1620.40. Silver was a little under the weather falling by 43 cents to $30.04. However in the access market with the Dow plummeting by 240 points, here are the final access closing prices for our two metals: Gold; $1624.80 You can visualize that gold is trying to decouple from the Dow as the bankers are losing control over this ancient metal of Kings. The bankers still have some control over silver but that too will fade. Let us have a complete look at trading, inventory movements, the COT report, and the amount of gold and silver standing for October. Read More @ HarveyOrgan.Blogspot.com
|
| Goldman's European Clients Are Oblivious About Developments In Europe Posted: 01 Oct 2011 05:23 AM PDT In David Kostin's latest weekly chart book, in addition to the plethora of useful charts (if materially incorrect when it comes to fund flow data - never before have we seen such as disconnect between Lipper/AMG and ICI flow data, allowing one to pick and chose which data set to use depending on their point), and market statistics, the Goldman head strategist observes a rather curious psychological schism, notably as pertains to investor sentiment regarding the financial powderkeg known as Europe. Namely that while US investors just need to read a Euro-negative headline to sell everything, in Europe Goldman's clients are largely oblivious of any and all adverse developments. To wit: "Our meetings with clients in Europe and the US during the past two weeks showed investors in continental Europe to be more composed about the direction and pace of policy decisions. US and UK investors are far more anxious about potential policy solutions and the cumulative impact of a drawn out resolution." We wish we could recreate the European nonchalance, in no small part predicated by the general mindset of a socialist backstop to another global collapse, which in case of failure, will simply mean the activation of US-based FX swap lines, and thus America would have to bail out Europe once again like it did back in 2008. In retrospect we can see why nobody in Europe is too worried. We wonder how many of these very unconcerned investors will step up and fill Buffett's shoes who as we disclosed yesterday has been approached to bail out one or more unnamed European banks. Kostin's conclusion: "Investors continue to vote with their feet in US equities..." Feet...Or wallets. Then again not everyone has the benefit of trading with other people's money, and in a worst case scenario, that of the Fed. Full report:
|
| Goldman's European Clients Are Oblivious About Developments In Europe Posted: 01 Oct 2011 05:23 AM PDT
In David Kostin's latest weekly chart book, in addition to the plethora of useful charts (if materially incorrect when it comes to fund flow data - never before have we seen such as disconnect between Lipper/AMG and ICI flow data, allowing one to pick and chose which data set to use depending on their point), and market statistics, the Goldman head strategist observes a rather curious psychological schism, notably as pertains to investor sentiment regarding the financial powderkeg known as Europe. Namely that while US investors just need to read a Euro-negative headline to sell everything, in Europe Goldman's clients are largely oblivious of any and all adverse developments. To wit: "Our meetings with clients in Europe and the US during the past two weeks showed investors in continental Europe to be more composed about the direction and pace of policy decisions. US and UK investors are far more anxious about potential policy solutions and the cumulative impact of a drawn out resolution." We wish we could recreate the European nonchalance, in no small part predicated by the general mindset of a socialist backstop to another global collapse, which in case of failure, will simply mean the activation of US-based FX swap lines, and thus America would have to bail out Europe once again like it did back in 2008. In retrospect we can see why nobody in Europe is too worried. Also, perhaps Goldman should do a better job at distributing the report by its own Alan Brazil saying Europe is doomed... We wonder how many of these very unconcerned investors will step up and fill Buffett's shoes who as we disclosed yesterday has been approached to bail out one or more unnamed European banks. Kostin's conclusion: "Investors continue to vote with their feet in US equities..." Feet...Or wallets. Then again not everyone has the benefit of trading with other people's money, and in a worst case scenario, that of the Fed. More:
Full report:
|
| Gold price suppression is 'conspiracy theory' only to those who won't look at facts Posted: 01 Oct 2011 05:20 AM PDT 1:36p ET Saturday, October 1, 2011 Dear Friend of GATA and Gold: Jesse's Cafe Americain yesterday posted an excellent analysis of the precious metals market derivatives data reported by the the U.S. Office of the Comptroller of the Currency for the second quarter this year. Jesse remarks: "The leviathan JPMorganChase, uber-bank of Rockefeller and Morgan, holds 80 percent of the gold derivatives in the world, with HSBC having the rest. HSBC was founded in the British colony of Hong Kong and is now headquartered at Canary Wharf London. "At this sort of concentration you do not have a size advantage; you are the market, with all that it implies in terms of knowledge of positions, etc., at least concerning derivatives. In the non-gold precious metals, JPM's derivatives are a more modest 69 percent. "How important are derivatives to gold and the metals? Not so much, unless you consider it important to know who is hedging what positions and future supply. It also helps to manage some of the largest non-derivatives positions, such as large exchange-traded funds. "But some might conclude that between them the Anglo-Americans have the gold market in hand." ADVERTISEMENT Be Part of a Chance to Discover Multi-Million-Ounce Gold and Silver Deposits in Canada Northaven Resources Corp. (TSX-V:NTV) is advancing five gold and silver projects in highly prospective and politically stable British Columbia, Canada. Check out the exploration program on our Allco gold/silver project : -- A large (13,000 hectare) property, covering more than 15 square kilometers of a regional mineralized trend just 3km from a recently announced 1.2-million-ounce gold and 15-million-ounce silver deposit. -- The property hosts historic high-grade silver workings and many mineral -- A deep-penetrating airborne geophysics survey has just been completed on the entire property and neighboring deposits and its results are eagerly awaited. To learn more about the Allco property or Northaven's other gold and silver projects, please visit: http://www.northavenresources.com Or call Northaven CEO Allen Leschert at 604-696-3600. Jesse's analysis of the OCC's report on precious metals derivatives is headlined "The Anglo-American Precious Metals Derivatives Duopoly: Quarterly OCC Report" and you can find it here: http://jessescrossroadscafe.blogspot.com/2011/09/precious-metals-duopoly... Perhaps the first to figure out and publicize how derivatives could be used to suppress commodity prices in an inflationary environment was the British economist Peter Warburton, whose 2001 essay, "The Debasement of World Currency: It Is Inflation But Not as We Know It" (http://www.gata.org/node/8303), laid out what was under way and what was to come. Warburton wrote: "What we see at present is a battle between the central banks and the collapse of the financial system fought on two fronts. On one front, the central banks preside over the creation of additional liquidity for the financial system in order to hold back the tide of debt defaults that would otherwise occur. On the other, they incite investment banks and other willing parties to bet against a rise in the prices of gold, oil, base metals, soft commodities, or anything else that might be deemed an indicator of inherent value. Their objective is to deprive the independent observer of any reliable benchmark against which to measure the eroding value not only of the U.S. dollar but of all fiat currencies. "Equally, their actions seek to deny the investor the opportunity to hedge against the fragility of the financial system by switching into a freely traded market for non-financial assets. "The central banks have found the battle on the second front much easier to fight than the first. Last November I estimated the size of the gross stock of global debt instruments at $90 trillion for mid-2000. How much capital would it take to control the combined gold, oil, and commodity markets? Probably no more than $200 billion, using derivatives. "Moreover, it is not necessary for the central banks to fight the battle themselves, although central bank gold sales and gold leasing have certainly contributed to the cause. Most of the world's large investment banks have overtraded their capital so flagrantly that if the central banks were to lose the fight on the first front, then their stock would be worthless. Because their fate is intertwined with that of the central banks, investment banks are willing participants in the battle against rising gold, oil, and commodity prices." Of course central banks long have had an intimate connection with the gold market, from the beginning of the gold standard continuing through the end of the gold standard to the present day, for central banks recognize that gold is a primary determinant of the value of their own currencies and interest rates. Even future U.S. Treasury Secretary Lawrence Summers, as an economics professor at Harvard, acknowledged as much in an academic study published in 1988. The study, titled "Gibson's Paradox and the Gold Standard," implied that governments could grasp their Holy Grail, control of interest rates and bond prices, if only they could get control of the price of gold: http://www.gata.org/files/gibson.pdf For 12 years now GATA has been compiling and publicizing evidence of both open and surreptitious central bank manipulation of precious metals prices and has amassed a vast file of documentation so that discussion of the issue might concentrate on the public record rather than on speculation and "conspiracy theory." This documentation includes official minutes of central bank proceedings, testimony and other statements by central bank officials, central bank and government memoranda and letters, declassified U.S. Central Intelligence Agency documents, U.S. State Department cables, federal lawsuit filings, statistical studies of the precious metals markets, and much more: http://www.gata.org/taxonomy/term/21 But in many circles the many years' worth of painstaking documentation simply cannot be acknowledged. Instead complaints of gold market manipulation are peremptorily dismissed as "conspiracy theory" no matter how much evidence is produced. Newsletter writer Toby Connor resorted to this peremptoriness again the other day as he commented on gold's recent plunge in an essay titled "Gold Isn't Being Manipulated, It's in a Normal D-Wave Decline": http://www.minyanville.com/businessmarkets/articles/precious-metals-gold... Connor wrote: "A D-wave decline is a normal, regression to the mean, profit-taking event that occurs when gold gets too stretched above the mean. It is not a takedown by an anti-gold cartel. Anyone with a modicum of common sense can look at the long-term chart of gold and tell that this is not a manipulated market. This is just a normal secular bull market, and it is acting exactly like a normal bull market acts. "Folks, these conspiracy theories are now bordering on the insane. I even heard the other day someone blame margin increases for the drop in gold. I guess they completely forgot that we've already had two margin increases in the last two months that had virtually no effect on gold. "Every bull market in history has its share of con men and scam artists. Think Bernie Madoff, Enron, WorldCom, etc. The gold manipulation nonsense is just one of the many scams that are going to hitch a ride on this bull. Actually it's one of the oldest scams in the book. You find a bull market, make a one-way bet on rising prices, tout these 'to the moon' prices to suck in subscribers lured by the reward of gigantic financial gains, and then blame an invisible cartel every time a correction occurs that you don't foresee. It's a great way of not having to take responsibility when subscribers get caught in a normal corrective decline." GATA can't answer for every letter writer in the precious metals markets; GATA can answer only for itself. But as a custodian of the market manipulation case, GATA will ask whether Connor can answer for his own failure to examine and dispute the evidence before drawing his conclusion. Can Connor really believe that, as governments and central banks increasingly intervene openly and desperately in the currency, bond, and even the equity markets, they're leaving only the gold market alone? Has Connor ever tried putting a single question about gold to any central bank? Or does he really think that his charts tell him everything he needs to know about the gold market? GATA has made a sort of career of questioning central banks. We have even sued the Federal Reserve a couple of times. But Connor writes as if he has been privy to all central bank documents, to all communications among central banks, and to all communications between central banks and bullion banks. Contrary to Connor's assertion, the gold cartel is hardly "invisible." It has been visible since before any of us were born. But the visibility here is like that in the Hans Christian Andersen fable "The Emperor's New Clothes," as it is bad business to get in the way of powerful governments and financial institutions generally, and bad business particularly for those who would make a living applying traditional technical analysis to markets to admit that they may have been dissecting mere holograms. Gold price suppression is "conspiracy theory" only to those who refuse to examine the documentation offered to them. CHRIS POWELL, Secretary/Treasurer 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: ADVERTISEMENT Lewis E. Lehrman on How to Solve the U.S. Debt Problem Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, advises that to reduce the $1 1/2 trillion U.S. deficit, the Republican Party must initiate an investment program. Working Americans are not saving, which enables the banks to lead the country into a cycle of debt, leverage, boom, panic, and bust. Lehrman says: Eliminating the budget deficit of a trillion and a half dollars cannot be done overnight. The proposal by U.S. Rep. Paul Ryan was very dramatic -- one Republican called it radical -- but it was not happily received. The solution, of course, is to design an American program for prosperity, because you can solve these entitlement problems with a growing economy. We need a tremendous program of investment, and investment comes from savings. When you pay savers, middle-income professionals, and working people 0 percent at the bank, you are not going to encourage them to save. Then we are left with a bank cycle of debt, leverage, boom, panic, and bust." To read more and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit: http://www.thegoldstandardnow.org/gata
|
I was interviewed on the Fox Business Channel regarding the Utah Legal Coin Act in early June 2011. Here is a little background and some interview questions.
The US Office of the Currency Comptroller (OCC) issues a Quarterly Report on the Derivatives exposure of US Banks and Trust. The report, including historical archives, can be found 
| 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 |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
No comments:
Post a Comment