Gold World News Flash |
- Join us! Gold Seekers Meetup @ Denver in 1 day!
- Silver Summit Report: Three Investment Approaches to the Volatile Metal
- The Bear Is About To Sink It's Teeth Into the Last Holdout Sector
- Gold, Silver & Miners: Technicals
- Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Almost 3% on the Week
- Another day, another currency market rigging
- Yuan Gold Contacts a Step toward Reserve Currency
- Thom Calandra: Yukon gold juniors bloodied but expected to bounce
- Regulators Knew of Dexia's Problems But Were Silenced
- Regulators Knew of Dexia's Problems But Were Silenced
- By the Numbers for the Week Ending October 21
- Sean Corrigan: Value can't be calculated after governments wreck markets
- Silver may have role in cancer fight
- Jim Rickards - Western Gold Policy Threat to National Security
- Bernanke: “I’ve Abandoned the Dual Mandate!”
- Metals Recovering? (with Jeff Nielson of Bullion Bulls Canada)
- Gold rises with equities on optimism over EU summit
- Russia cbank says will raise gold share in reserves
- Gillian Tett in the Financial Times: It would be foolish to deride or ignore GATA
- Join us! Gold Seekers Meetup @ Denver in 3 days
- It's the Euro Stupid
- Paul Brodsky: The Seeds of Our Destruction Were - And Still Are - Sown in the Bond Markets
- Worried About Silver? Listen to Eric Sprott's Stump Speech
- On A Long Enough Timeline, Every CNBC Million Dollar Challenge Is Front Run To Smithereens
- The Silver & Gold Price Remain in a Bull Market, & Will Until Some Monetary Crisis Finally Brings Down The Fiat Money & Banking System
- Federal Reserve Vice Chairman Lends Support to QE3
- Sorry Inflationistas, But This Chart Proves You Were Wrong
- JS Kim: Understanding Banker Manipulation of Gold & Silver
- Mea culpa! “Project X”
- Why such a manipulated and covert gold market?, Rickards asks
| Join us! Gold Seekers Meetup @ Denver in 1 day! Posted: 23 Oct 2011 02:00 PM PDT Are you watching your savings evaporate as the Federal Reserve keeps printing & devaluing our currency? Wonder how you can get out of paper money, T-Bills, and stocks before Hyperinflation confiscates your wealth? Come meet with other successful investors in a venue that is richly steeped in tradition and elegance, the Four Seasons in downtown Denver.
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| Silver Summit Report: Three Investment Approaches to the Volatile Metal Posted: 23 Oct 2011 03:00 AM PDT For this special report from the Cambridge House Silver Summit in Spokane, Washington, The Gold Report caught up with three silver investing experts: James Turk, chairman of GoldMoney; Andrew Kaip, vice president of Precious Metals & Mining at BMO Capital Markets; and Ian McAvity, a writer at Deliberations on World Markets. While the three didn't all agree on why silver acts the way it does, they all said that it belongs in some form in a diversified portfolio—but only for those who can handle volatility.
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| The Bear Is About To Sink It's Teeth Into the Last Holdout Sector Posted: 21 Oct 2011 04:27 PM PDT At this point I think it's pretty clear the general stock market is now in the initial phase of a new bear market. It's trying to generate a bear market rally over the last three weeks, but so far it's been pretty weak. That doesn't bode well once the cyclical and secular bear trend resumes. The HUI mining index is now on the verge of breaking down out of the multi-month megaphone topping pattern. Once it does that will confirm that the bear now has his teeth in the last holdout sector. The sector that led the bull market over the last 2 1/2 years and now the last sector to succumb to the deflationary forces. As I have noted in the chart I do expect the miners will find at least temporary support at the 200 week moving average. That should correspond with gold putting in an intermediate degree bottom sometime in the next two or maybe three weeks. Presumably it will come with gold below $1535. My best guess is that gold will make an attempt to test ...
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| Gold, Silver & Miners: Technicals Posted: 21 Oct 2011 04:22 PM PDT These days, a lot is going on in the world. All those events have a big impact on the price of Stocks, commodities, bonds,… Let’s have a look at the major trends in Gold, Silver and Mining stocks. GLD touched the 150MA yesterday. In the past, this level often acted as support as we can see in the chart below: Chart courtesy stockcharts.com GLD also tested the breakout above the green resistance line that was in place since 2008. The weekly MACD also tested this green line: Chart courtesy stockcharts.com When we look at ANV (Allied Nevada Gold), we can see that price hit the lower bollinger band yesterday, where it found support. Price managed to close slightly above the 220EMA, where it found support in the past. If price manages to move away from the lower Bollinger Band, this would be very Bullish. If it fails to do so, it would be very Bearish, and we would expect a waterfall decline. Chart courtesy stockcharts.com The HUI index looks set to rete...
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| Gold Seeker Weekly Wrap-Up: Gold and Silver Fall Almost 3% on the Week Posted: 21 Oct 2011 04:00 PM PDT Gold rose to as high as $1648.28 by about 9:30AM EST before it fell back off a bit into the close, but it still ended with a gain of 1.52%. Silver climbed to as high as $31.493 and ended with a gain of 2.77%.
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| Another day, another currency market rigging Posted: 21 Oct 2011 03:51 PM PDT Japan Says It Will Act Decisively on Excessive Forex Moves By Rie Ishiguro http://www.reuters.com/article/2011/10/22/us-japan-economy-azumi-idUSTRE... TOKYO -- Japan's finance minister said on Saturday he would take decisive action against excessive and speculative yen moves, Kyodo news agency reported, threatening to conduct currency intervention after the yen rose to a record high against the dollar. Jun Azumi was also quoted by Kyodo as saying that the yen's appreciation was not so much a reflection of Japan's economic fundamentals, but reflected the relative economic conditions in Japan, Europe and the United States. "I would like to take decisive action on excessive and speculative movements," Azumi was quoted by Kyodo as telling reporters. "We're in a situation where the foreign exchange rates would wipe out earnings by hard working companies." His comments came after the U.S. dollar tumbled on Friday and hit a record low against the yen on speculation Europe was closer to solving its debt crisis. ... Dispatch continues below ... ADVERTISEMENT The United States Once Again Can Establish a Stable Dollar Worth Its Weight in Gold Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, has released a plan to restore economic growth through a stable dollar. The plan, titled "The True Gold Standard: A Monetary Reform Plan Without Official Reserve Currencies," responds to the recurrent economic crises of the last century and outlines a detailed proposal for America's leadership on "how we get from here to there." That is, how we get from the present unstable paper dollar to a stable dollar as good as gold. James Grant, author and editor of Grant's Interest Rate Observer, says of the Lehrman plan: "If you have ever wondered how the world can get from here to there -- from the chaos of depreciating paper to a convertible currency worthy of our children and our grandchildren -- wonder no more. The answer, brilliantly expounded, is between these covers. America has long needed a modern Alexander Hamilton. In Lewis E. Lehrman the country has finally found him." To learn 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 The dollar fell as low as 75.78 yen on trading platform EBS, surpassing its previous record low of 75.94 set in August. Since September last year, Tokyo has intervened in the currency market twice on its own and once jointly with other Group of Seven rich nations to cool the yen's gains. But the effects of intervention have proved short-lived due to Europe's sovereign debt crisis, which is sending investors into perceived safe-haven assets such as the Japanese currency. Japan's economy is believed to have rebounded in the third quarter from a recession caused by a devastating March earthquake. But the recovery is now under the threat of a slowing global growth and a strong yen, which reduces the value of profits earned abroad by Japanese firms and makes their exports less competitive. Japan announced on Friday it would spend 2 trillion yen ($26 billion) on subsidies to encourage companies buffeted by a strong yen to keep factories and jobs in the country. Join GATA here: 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 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 showings as well as former mines at the property's northern and southern boundaries. -- 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.
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| Yuan Gold Contacts a Step toward Reserve Currency Posted: 21 Oct 2011 03:07 PM PDT On Monday, the first gold contracts denominated in the Chinese Renminbi (also known informally as "yuan") came to the Hong Kong market. Analysts have been quick to note the implications of a yuan-denominated contract, realizing that the new contract could drive nearly three times as much demand as the dollar-denominated contract. Looking at the yuan product from the macro-view, a move into gold is about more than just gold—it's about reserve currency status. Dollar's Monopoly The US Dollar has a monopoly as the world's reserve currency. The size and scope of the US economy and financial markets, combined with the relative stability of the political climate, made the US dollar a preferred currency for international trade. However, the reason most cite for dollar dominance isn't the United States' role in international commerce, but its monopoly on a single product—oil. In an agreement with Saudi Arabia, the United States effectively tied the global oil ...
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| Thom Calandra: Yukon gold juniors bloodied but expected to bounce Posted: 21 Oct 2011 02:53 PM PDT 10:50p ET Friday, October 21, 2011 Dear Friend of GATA and Gold: Readers of financial writer Thom Calandra's new commentary at Stockhouse about junior mining companies exploring the Yukon Territory may notice a reference to the organizer of GATA's Gold Rush 21 conference in Dawson City there in 2006, Janet Lee, who also was one of the organizers of GATA's Gold Rush 2011 conference in London in August. Her husband, Bill Sheriff of Golden Predator Corp., also figures in the commentary. It's headlined "Yukon Gold Juniors Bloodied but Expected to Bounce" and you can find it at Stockhouse here: http://www.stockhouse.com/Columnists/2011/Oct/21/Yukon-gold-juniors-bloo... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Prophecy Platinum Drills 120.9 Meters Company Press Release VANCOUVER, British Columbia, Canada -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) has announced the drill results received from its 2011 drilling Wellgreen platinum group elements, nickel, and copper project in the Yukon Territory. Borehole WS11-188 encountered 457 meters of mineralization grading 0.47% nickel equivalent (including 0.72 grams per ton platinum, paladium, and gold) from surface to the footwall contact. Within this larger swath of mineralization, the hole encountered a high-grade section of 17.8 meters of 3.14 grams per ton platinum, palladium, and gold, 1.03% nickel, and 0.74% copper (1.77% nickel equivalent). The hole was drilled completely outside of current resource boundaries, between the East Zone resource and the West Zone resource that was reported in the company's press release no July 14, 2011. The high-grade intercept located between the two resources not only demonstrates that the East and West Zone resource form a single, geologically contiguous body but also indicates that the higher-grade material in the East Zone continues to the west and at depth at Wellgreen. For drill result tables and maps, please see the company's full press release here: http://www.prophecyplat.com/news_2011_sep26_prophecy_platinum_wellgreen_... 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 Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit, Company Press Release, October 27, 2010 VANCOUVER, British Columbia -- Sona Resources Corp. reports on five drillling holes in the third round of assay results from the recently completed drill program at its 100 percent-owned Elizabeth Gold Deposit Property in the Lillooet Mining District of southern British Columbia. Highlights from the diamond drilling include: -- Hole E10-66 intersected 17.4g gold/ton over 1.54 metres. -- Hole E10-67 intersected 96.4g gold/ton over 2.5 metres, including one assay interval of 383g of gold/ton over 0.5 metres. -- Hole E10-69 intersected 85.4g gold/ton over 4.03 metres, including one assay interval of 230g gold/ton over 1 metre. Four drill holes, E10-66 to E10-69, targeted the southwestern end of the Southwest Vein, and three of the holes have expanded the mineralized zone in that direction. The Southwest Vein gold mineralization has now been intersected over a strike length of 325 metres, with the deepest hole drilled less than 200 metres from surface. "The assay results from the Southwest Zone quartz vein continue to be extremely positive," says John P. Thompson, Sona's president and CEO. "We are expanding the Southwest Vein, and this high-grade gold mineralization remains wide open down dip and along strike to the southwest." For the company's full press release, please visit: http://sonaresources.com/_resources/news/SONA_NR19_2010.pdf
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| Regulators Knew of Dexia's Problems But Were Silenced Posted: 21 Oct 2011 02:50 PM PDT By Wolf Richter www.testosteronepit.com When a bank is allowed to collapse, the lies behind its financial statements come out of the woodwork—and Dexia, the French-Belgian mega-bank that was bailed out in 2008 and collapsed in early October, is no exception: a report by the French banking regulator surfaced. It contains the results of an investigation concluded in the summer of 2010. And it threatened to put the bank "under special supervision." And then? Nothing. The report was buried. Until the French newspaper, Libération, obtained a copy of it. Dexia is a big deal in Belgium where it employs 10,000 people—of a population of 11 million (in the U.S., that ratio would translate into 290,000 employees). It has over 21 million Belgian bank accounts, and its assets of $715 billion dwarf Belgium's $395 billion economy. This craziness started years ago when the community bank embarked on an acquisition spree that turned it into an outsized, overleveraged hedge fund—that paid out huge bonuses, and as we now know, lied to investors, regulators, and the public. At taxpayer's expense. But the report shows that the regulators weren't stupid. Inspectors of the Authorité de Contrôle Prudentiel, the French banking regulator, investigated Dexia Crédit Local (DCL), the French part of Dexia, during the summer of 2010. By then, DCL had fallen below the required liquidity levels and had difficulty raising cash to cover its monthly expenses. The report lists a number of infractions committed by both, DCL's pre-bailout management and post-bailout management. Among them: - DCL gave false financial information to the public. - DCL managed its portfolio of derivatives in a manner that violated regulatory provisions. - DCL omitted or lied about important information concerning the acquisition of a portfolio of bonds and speculative holdings. - DCL overvalued a portfolio of investments by an estimated €2 billion ($2.7 billion). - DCL's CEO understated transaction volumes. And this gem: "From 2007 to 2008, financial communications of Dexia Crédit Local were evasive about the rising risks, though the CEO and other administrators knew about them. They covered the infractions and the consequent liquidity risks with silence." The regulators also accused DCL's audit firms, Deloitte and Mazars, of closing their eyes. The report was sent to DCL, along with a threat that the bank would be put "under special supervision." And then the hatchet was buried for some reason. It remains to be seen if the wrongdoing at the bank will ever lead to legal actions against the perpetrators. And just how deceitful can bank management get? The Financial Times added another wrinkle: a false recapitalization! Dexia lent €1.5 billion to its two largest institutional shareholders before 2008, so that they would invest it in Dexia common stock. As a result, Dexia showed a capital increase of €1.5 billion. Inexplicably, the practice wasn't illegal at the time, though Belgian regulators noticed it. After all this, we welcome comforting words. "Belgian banks don't need to be recapitalized, according to the EBA," said Yves Leterme, the caretaker prime minister of the country that is still without government. The EBA, of course, is the European Banking Authority, the very same entity whose "stress test" Dexia had passed in July with flying colors. Europe's banking and debt crisis is pitting France against Germany. And now, we finally know the real issue: German taxpayers might have to subsidize a French company. Via Greece.... German-French Fight Breaks Out Over Frigates Wolf Richter www.testosteronepit.com
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| Regulators Knew of Dexia's Problems But Were Silenced Posted: 21 Oct 2011 02:50 PM PDT
By Wolf Richter www.testosteronepit.com When a bank is allowed to collapse, the lies behind its financial statements come out of the woodwork—and Dexia, the French-Belgian mega-bank that was bailed out in 2008 and collapsed in early October, is no exception: a report by the French banking regulator surfaced. It contains the results of an investigation concluded in the summer of 2010. And it threatened to put the bank "under special supervision." And then? Nothing. The report was buried. Until the French newspaper, Libération, obtained a copy of it. Dexia is a big deal in Belgium where it employs 10,000 people—of a population of 11 million (in the U.S., that ratio would translate into 290,000 employees). It has over 21 million Belgian bank accounts, and its assets of $715 billion dwarf Belgium's $395 billion economy. This craziness started years ago when the community bank embarked on an acquisition spree that turned it into an outsized, overleveraged hedge fund—that paid out huge bonuses, and as we now know, lied to investors, regulators, and the public. At taxpayer's expense. But the report shows that the regulators weren't stupid. Inspectors of the Authorité de Contrôle Prudentiel, the French banking regulator, investigated Dexia Crédit Local (DCL), the French part of Dexia, during the summer of 2010. By then, DCL had fallen below the required liquidity levels and had difficulty raising cash to cover its monthly expenses. The report lists a number of infractions committed by both, DCL's pre-bailout management and post-bailout management. Among them: - DCL gave false financial information to the public. - DCL managed its portfolio of derivatives in a manner that violated regulatory provisions. - DCL omitted or lied about important information concerning the acquisition of a portfolio of bonds and speculative holdings. - DCL overvalued a portfolio of investments by an estimated €2 billion ($2.7 billion). - DCL's CEO understated transaction volumes. And this gem: "From 2007 to 2008, financial communications of Dexia Crédit Local were evasive about the rising risks, though the CEO and other administrators knew about them. They covered the infractions and the consequent liquidity risks with silence." The regulators also accused DCL's audit firms, Deloitte and Mazars, of closing their eyes. The report was sent to DCL, along with a threat that the bank would be put "under special supervision." And then the hatchet was buried for some reason. It remains to be seen if the wrongdoing at the bank will ever lead to legal actions against the perpetrators. And just how deceitful can bank management get? The Financial Times added another wrinkle: a false recapitalization! Dexia lent €1.5 billion to its two largest institutional shareholders before 2008, so that they would invest it in Dexia common stock. As a result, Dexia showed a capital increase of €1.5 billion. Inexplicably, the practice wasn't illegal at the time, though Belgian regulators noticed it. After all this, we welcome comforting words. "Belgian banks don't need to be recapitalized, according to the EBA," said Yves Leterme, the caretaker prime minister of the country that is still without government. The EBA, of course, is the European Banking Authority, the very same entity whose "stress test" Dexia had passed in July with flying colors. Europe's banking and debt crisis is pitting France against Germany. And now, we finally know the real issue: German taxpayers might have to subsidize a French company. Via Greece.... German-French Fight Breaks Out Over Frigates Wolf Richter www.testosteronepit.com
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| By the Numbers for the Week Ending October 21 Posted: 21 Oct 2011 02:39 PM PDT Just below is this week's closing table, followed by the CFTC disaggregated commitments of traders (DCOT) recap table for the week ending October 21, 2011.
Vultures, (Got Gold Report Subscribers) please note that updates to our linked technical charts, including our comments about the COT reports and the week's technical changes, should be done by the usual time, (18:00 ET) on Sunday. Gold and Silver Disaggregated COT Report (DCOT) In the DCOT table below a net short position shows as a negative figure in red. A net long position shows in black. In the Change column, a negative number indicates either an increase to an existing net short position or a reduction of a net long position. A black figure in the Change column indicates an increase to an existing long position or a reduction of an existing net short position. The way to think of it is that black figures in the Change column are traders getting "longer" and red figures are traders getting less long or shorter. All of the trader's positions are calculated net of spreading contracts as of the Tuesday disaggregated COT report.
Please note that the traders the CFTC classes as Swap Dealers currently hold the largest net LONG position for silver futures in the entire DCOT dataset going back to 2006. Note also that the closing price for silver is not a typo, it was unchanged for the COT reporting week.
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| Sean Corrigan: Value can't be calculated after governments wreck markets Posted: 21 Oct 2011 02:25 PM PDT 10:32p ET Friday, October 21, 2011 Dear Friend of GATA and Gold: Interviewing Sean Corrigan of Diapason Commodities Management in Lausanne, Switzerland, GoldMoney gets a wonderful comment along the lines of GATA's old complaint: "There are no markets anymore, just interventions." (http://www.gata.org/node/6242.) Asked how to determine whether gold is over- or undervalued, Corrigan remarks: "What is 'value' in a world where the single goal of the powers that be is to deny the market the ability to have its constituents' underlying ordering of wants accurately reflected in the price structure? We have no proper market in capital; severely impaired markets in any number of basic goods; false markets in real estate; distorted markets in labor (hence why so many poor souls are still without jobs); and no certainty about anything except the awful certainty that nothing is off-limits to those who are desperately trying to put Humpty Dumpty together again in time for the next turn of the electoral cycle rather than accepting that he has shuffled off this mortal coil and that it would be better now to see whether at least we can salvage a half-decent omelette out of the remains?" But the British economist Peter Warburton probably still has to be credited with the original observation in his 2001 essay, "The Debasement of World Currency: It Is Inflation But Not as We Know It." (http://www.gata.org/node/8303.) Warburton wrote: "Beneath the surface, the values of the dollar, the yen, and the euro have been eroded simultaneously by the overextension of credit. The latent losses in the credit system, emanating from non-performing loans and defaulting bonds, represent a charge against the value of the currency, as surely as if the edges of the notes and coins had been trimmed away. There has been a reduction in the quality of credit rather than an increase in the quantity of money (net of writeoffs). The search is on for a valid yardstick, a measure of monetary value that has not been (and cannot be) distorted by central banks' firefighting and wrecking tactics." GoldMoney's interview with Corrigan is in two parts and begins here: CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Sona Drills 85.4g Gold/Ton Over 4 Metres at Elizabeth Gold Deposit, Company Press Release, October 27, 2010 VANCOUVER, British Columbia -- Sona Resources Corp. reports on five drillling holes in the third round of assay results from the recently completed drill program at its 100 percent-owned Elizabeth Gold Deposit Property in the Lillooet Mining District of southern British Columbia. Highlights from the diamond drilling include: -- Hole E10-66 intersected 17.4g gold/ton over 1.54 metres. -- Hole E10-67 intersected 96.4g gold/ton over 2.5 metres, including one assay interval of 383g of gold/ton over 0.5 metres. -- Hole E10-69 intersected 85.4g gold/ton over 4.03 metres, including one assay interval of 230g gold/ton over 1 metre. Four drill holes, E10-66 to E10-69, targeted the southwestern end of the Southwest Vein, and three of the holes have expanded the mineralized zone in that direction. The Southwest Vein gold mineralization has now been intersected over a strike length of 325 metres, with the deepest hole drilled less than 200 metres from surface. "The assay results from the Southwest Zone quartz vein continue to be extremely positive," says John P. Thompson, Sona's president and CEO. "We are expanding the Southwest Vein, and this high-grade gold mineralization remains wide open down dip and along strike to the southwest." For the company's full press release, please visit: http://sonaresources.com/_resources/news/SONA_NR19_2010.pdf 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 Prophecy Platinum Drills 120.9 Meters Company Press Release VANCOUVER, British Columbia, Canada -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) has announced the drill results received from its 2011 drilling Wellgreen platinum group elements, nickel, and copper project in the Yukon Territory. Borehole WS11-188 encountered 457 meters of mineralization grading 0.47% nickel equivalent (including 0.72 grams per ton platinum, paladium, and gold) from surface to the footwall contact. Within this larger swath of mineralization, the hole encountered a high-grade section of 17.8 meters of 3.14 grams per ton platinum, palladium, and gold, 1.03% nickel, and 0.74% copper (1.77% nickel equivalent). The hole was drilled completely outside of current resource boundaries, between the East Zone resource and the West Zone resource that was reported in the company's press release no July 14, 2011. The high-grade intercept located between the two resources not only demonstrates that the East and West Zone resource form a single, geologically contiguous body but also indicates that the higher-grade material in the East Zone continues to the west and at depth at Wellgreen. For drill result tables and maps, please see the company's full press release here: http://www.prophecyplat.com/news_2011_sep26_prophecy_platinum_wellgreen_...
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| Silver may have role in cancer fight Posted: 21 Oct 2011 02:07 PM PDT Silver has a lower toxicity and compounds have been created from it which kill cancer cells in the laboratory.
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| Jim Rickards - Western Gold Policy Threat to National Security Posted: 21 Oct 2011 01:55 PM PDT "I kind of like the Russian approach, the Russians have been very candid and said, 'We buy gold every month.'
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| Bernanke: “I’ve Abandoned the Dual Mandate!” Posted: 21 Oct 2011 01:52 PM PDT by Bruce Krasting: I find myself this morning hoping for the failure of the Federal Reserve. This implies that I'm also hoping for a collapse in the equity markets and a severe recession. Coupled with that, I want to see that the massive increase in money supply and the endless interventions of the Fed bring us a round of much higher inflation. I want the Fed to fail so miserably that they are marginalized for the next twenty years. I want Bernanke fired. I want the Fed disgraced. I'm not rooting for this to happen because I'm short assets. I'm not hoping for more pain for Americans. I don't want to see a collapse in the economy. And I certainly do not want to see more inflation. But I'm convinced that the only hope for the country is to shut this Fed down. For that to happen there must first be a collapse. Read More @ BruceKrasting.Blogspot.com
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| Metals Recovering? (with Jeff Nielson of Bullion Bulls Canada) Posted: 21 Oct 2011 01:47 PM PDT |
| Gold rises with equities on optimism over EU summit Posted: 21 Oct 2011 01:46 PM PDT "It's not surprising to see buyers begin to step in here out of concern that they would miss an opportunity for another (rally),"
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| Russia cbank says will raise gold share in reserves Posted: 21 Oct 2011 01:39 PM PDT "We are not planning to step away from this path. We are acquiring huge volumes (of gold)," Ulyukayev told the parliament.
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| Gillian Tett in the Financial Times: It would be foolish to deride or ignore GATA Posted: 21 Oct 2011 01:26 PM PDT Is There a Shadowy Plot Behind Gold? The Idea of a Central Bank Manipulating World Markets By Gillian Tett http://www.ft.com/intl/cms/s/2/90effa18-faa3-11e0-8fe7-00144feab49a.html Out there in the world today, a cabal of Western central bankers is secretly determined to manipulate the world's markets. They are doing this not via interest rates but by rigging gold prices. More specifically, they have kept bullion prices artificially low in recent decades to ensure that our so-called fiat currency system -- that is, money created by central banks -- continues to work. For if the public ever knew the "real" price of gold, we would finally understand that our currencies, such as the dollar, are a sham. ... Hence the need for that central bank plot. Does this sound like the ranting of a Tea Party activist? A Hollywood screenplay? Or could there be a grain of truth in it? The question has been provoking hot debate among a small tribe of investors in America for many years, particularly those owning gold mining stocks. Right now it is also leaching into the more mainstream American political world. ... Dispatch continues below ... 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... As Republican candidates jostle ahead of the 2012 election, the question of whether America's central bank has been debasing its currency -- and how that is (or is not) linked to the value of gold -- is cropping up with new force. Herman Cain, the former pizza executive who is now a popular Republican contender, hinted last month that he would like to return to a world where "a dollar is a dollar" and added that "yes, we do need a gold standard for that." More recently, Newt Gingrich has voiced the same idea. Ron Paul, an outside Republican contender, has been lambasting the Federal Reserve for years over its easy-money policies. He is now darkly warning of plots. A group called American Principles in Action created a Gold Standard 2012 platform last year and is now fighting to make these issues an election issue next year. And on the extremes of the Republican Party -- and more libertarian circles of American life -- a flock of theories about gold are now circling around, and taking root in the fertile soil of the internet. I attended a dinner last week where Chris Powell, the treasurer of the Gold Anti-Trust Action Committee (GATA), was talking. Powell, an investigative journalist based in Connecticut, co-established GATA with a former commodities trader two decades ago, and he is convinced that the American government has long been manipulating gold prices as a matter of national policy. "Gold is a currency that competes with government currencies and has a powerful influence on interest rates and the value of government bonds," Powell explains. "This ... is why central banks have tried to control -- usually suppress -- the price of gold." This rigging continues even today, he adds. Never mind the fact that the gold price has soared by 22 per cent in a year: to GATA it remains far below the "proper" -- non-manipulated -- price. Thus, when the gold price tumbled last month, Powell blamed this on central banks, who "meant to knock down the gold price at a crucial moment." (Check out http://www.gata.org for the arguments in full.) Unsurprisingly, central bankers vehemently reject this plot idea. Indeed, when I pressed some of them on it, they laughed. "I never heard anything about any plots during my time at the Fed. We barely talked about gold at all," splutters one former Fed vice chairman, who points out that the Fed does not actually own any gold itself. Or as a European banker says: "How could we have secret deals for years, but nothing ever leaked?" For my money, though, I think there are at least two reasons why it would be foolish simply to deride or ignore GATA. Firstly, some of its points have at least a grain of truth. Even if you find it hard to believe that central bankers would be dastardly enough to create a plot -- or competent enough to do what GATA claims -- the fact is that global commodity markets are pretty murky, central banks are often opaque, and Western rhetoric about "free" markets is often hypocritical. Those issues merit far more debate, not just among journalists but central bankers too. Secondly, even if Western elites hate these gold conspiracy theories -- in fact, especially if they do -- they need to recognise that they tap into a deep cultural vein. Right now many Western voters are profoundly frightened about the economy. They are also confused by its unpredictable and mysterious nature. Consequently, the idea of a central bank "plot" packs an increasingly powerful emotional appeal, and voters are hungry for explanations and scapegoats. In that sense, the work of GATA might be seen as an echo of the cargo cults that anthropologists study in the Pacific islands: something that offers pattern and meaning amid terrifying disorder. Whatever the "truth" behind these plot tales, the one thing that is clear is that these accusations are unlikely to disappear soon. Not, at least, while the world's economy remains so unstable and terrifying for ordinary mortals. Or, possibly, until that gold price really soars. Join GATA here: 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 For Continuous Wealth Creation, the Hera Research Newsletter The life cycles of companies that produce natural resources allow investors to allocate assets among companies at different stages of development and to profit from transitions between stages. Based on natural resource company life cycles, the Hera Research Newsletter maximizes profits through deep, fundamental analysis at each stage of development and by moving gains back to earlier-stage companies in a continuous wealth-creation process. Hera Research covers a pipeline of high-quality natural resource companies at different stages of development. The companies span discovery and production of gold, silver, and platinum group metals, select base metals, oil and gas, green energy, agriculture, rare earth elements, uranium, and more. Discover the unique value of the Hera Research Newsletter by visiting: http://www.heraresearch.com/newsletter.html Or call Ron Hera at 360-339-8541x101.
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| Join us! Gold Seekers Meetup @ Denver in 3 days Posted: 21 Oct 2011 01:00 PM PDT Are you watching your savings evaporate as the Federal Reserve keeps printing & devaluing our currency? Wonder how you can get out of paper money, T-Bills, and stocks before Hyperinflation confiscates your wealth? Come meet with other successful investors in a venue that is richly steeped in tradition and elegance, the Four Seasons in downtown Denver.
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| Posted: 21 Oct 2011 12:55 PM PDT According to Clark Yingst, chief market analyst at Joseph Gunnar, the relationship between the dollar and the euro is the market tale of 2011, dominating the tape to the point that other fundamentals are being all but ignored. Read More...
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| Paul Brodsky: The Seeds of Our Destruction Were - And Still Are - Sown in the Bond Markets Posted: 21 Oct 2011 12:32 PM PDT Submitted by Chris Martenson Paul Brodsky: The Seeds of Our Destruction Were - And Still Are - Sown In The Bond Markets Paul Brodsky does not trust the bond markets. That position may seem strange coming from someone who has spent most of his professional career trading bonds, but it's precisely this insider knowledge that has led him to start directing investors to safer harbors. In fact, he thinks our credit system is so far out of control that it will cause a massive - and largely unavoidable at this point - devaluation of the US dollar (and most other fiat currencies, as well). In our interview with Paul, we asked him to explain the reasons for his concern and to detail how he sees a bond market breakdown unfolding. At the heart of the matter is the run-up in overnight systemic repurchase agreements among banks that started in 1994, which goosed the ensuing credit-driven buying orgy in our economy and has left the system much more vulnerable to exogenous shocks as a result:
Add to this the lax oversight from the Fed at the time, which as Paul states seemed primarily focused on making sure "banks could expand their balance sheets". Along with the repurchase agreements, the practice of "sweep programs" helped the banks gain unfair advantage while technically not breaking the letter of the law. Chris summarizes this process as:
At some point, the growing leverage in the system and the rising amount of new credit and money supply leads to ever larger distortions in market pricing. Paul sees this as leading to inflation:
It's these growing inflationary pressures that Paul sees leading to an accelerating devaluation of paper currencies in the coming years. He sees a revaluation of the US dollar vs gold as a likely outcome at some future point (estimating gold could reach a price in the neighborhood of $10,000 per ounce if it is indeed re-monetized). Ultimately, he recommends investors concerned with protecting the purchasing power of their wealth today get exposure to hard assets that can't be so easily inflated away:
iTunes: Play/Download/Subscribe to the Podcast Or click here to read the full transcript.
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| Worried About Silver? Listen to Eric Sprott's Stump Speech Posted: 21 Oct 2011 12:24 PM PDT Hedge fund manager Eric Sprott's speech at this week's Silver Summit turned a room full of nervous precious metals owners into pumped-up silver buyers. Some of the highlights are posted below, and here's a link to a recent ... Read More...
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| On A Long Enough Timeline, Every CNBC Million Dollar Challenge Is Front Run To Smithereens Posted: 21 Oct 2011 11:57 AM PDT First, the algos took over the real markets. Now, they control the fake ones too...
Now if only the E*Trade baby could discover a way to reset life whenever the "account holdings" line = $0.00
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| Posted: 21 Oct 2011 11:17 AM PDT Gold Price Close Today : 1,635.10 Gold Price Close 14-Oct : 1,681.80 Change : -46.70 or -2.8% Silver Price Close Today : 3117.3 Silver Price Close 14-Oct : 3214 Change : -96.70 or -3.0% Gold Silver Ratio Today : 52.452 Gold Silver Ratio 14-Oct : 52.327 Change : 0.13 or 0.2% Silver Gold Ratio : 0.01906 Silver Gold Ratio 14-Oct : 0.01911 Change : -0.00005 or -0.2% Dow in Gold Dollars : $ 149.29 Dow in Gold Dollars 14-Oct : $ 143.13 Change : $ 6.17 or 4.3% Dow in Gold Ounces : 7.222 Dow in Gold Ounces 14-Oct : 6.924 Change : 0.30 or 4.3% Dow in Silver Ounces : 378.81 Dow in Silver Ounces 14-Oct : 362.31 Change : 16.51 or 4.6% Dow Industrial : 11,808.79 Dow Industrial 14-Oct : 11,644.49 Change : 164.30 or 1.4% S&P 500 : 1,238.25 S&P 500 14-Oct : 1,224.58 Change : 13.67 or 1.1% US Dollar Index : 76.291 US Dollar Index 14-Oct : 76.607 Change : -0.316 or -0.4% Platinum Price Close Today : 1,516.00 Platinum Price Close 14-Oct : 1,555.00 Change : -39.00 or -2.5% Palladium Price Close Today : 617.00 Palladium Price Close 14-Oct : 626.00 Change : -9.00 or -1.4% The GOLD PRICE yesterday rose late in the aftermarket to about $1,622. Time the US market opened today it was already at $1,635, and reached $1,648. Rest of the day $1,635 served as a floor. Comex closed at $1,635.10, up $23.20 (1.4%). Aftermarket is trading $1,640.95. Looks like the GOLD PRICE has turned up for next week, maybe longer. Whether 'twill last is another question. On Comex the SILVER PRICE rose 3% (90.7c) to 3117.3c, and advanced all day. Like GOLD, SILVER has made a short of upside down head and shoulder -- maybe. If it is, it points to a rise to 3450c or so, but all this hasn't completely unfolded yet. The SILVER PRICE couldn't penetrate 3150c (there fell today's high), and if this excitement is anything more than a Friday drunk, it must clear that Monday and keep on marching. Expect higher silver prices this week. SILVER and GOLD remain in a bull market, and will until some monetary crisis finally brings down the fiat money and banking system. Don't listen to anybody who says otherwise, because they don't know 'Sic 'em!" from "Come here!" Strange week, mostly held in suspension by Eurocrats' indecision about their bank solvency crisis. Oddly -- or maybe, not so oddly, all things considered in this world of confusion and illusion -- stock investors today appeared to believe that something will come out of this weekend's Euro-summit, although they are going into it with no plan and planning only to meet again soon to plan a plan. Don't sound like a plan to me, but I'm only a natural born fool from Tennessee, not a high-flying Eurocrat like Sarcophagus or Ferkel. For the week, metals all lost ground while stocks gained - barely. Stocks gained enough today to close in positive territory for the year (31 Dec 2010 closed 11,573. Once that happened, the buying panic spread like a bar fight and for the Dow gobbled up 267.01 points (up 2.31%) to close 11,808.79. S&P500 lagged not far behind, up 1.88% (22.86) to 1,238.25. So the Dow cleared that 11,650 hurdle that had been stymying its progress. Dow will now most likely touch its 200 day moving average (DMA) (now 11,965). It could rally all the way to 12,300 WITHOUT changing the doom hanging over its head, only altering it from a jaws of death broadening top to a diamond top. Mercy, the Dow may rally into the end of the year, but that is no reason to buy it. Rather, that's a last chance to sell for those poor victims who still own stocks. Did I mention that it's ridiculous to look at the European bank solvency crisis and conclude the Eurocrats will cure it this weekend? It's ridiculous. STOCKS -- they are they Tyrannosaurus Rex of Investment Predators. US DOLLAR INDEX was cold-cocked and fell below 77, down 68.3 basis points or 0.88%. That fractured the 76.60 support, and opens the road for the dollar index to visit its 200 DMA, now 75.87. Long as the dollar does not dramatically rupture that line, it will remain in rally mode. Euro today closed 1.3896, up 0.87%. Euro still hasn't broken up through resistance at that lower boundary line of the channel it was defenestrated out of in September. Today closed right on the 50 DMA 1.3889. Will rise higher. Somebody goosed the Yen sure enough today. It's 131.88 high was a new all time high, but it closed at 131.05c/Y100 (Y76.30/$1), plumb at the top of its trading channel. Yen wants to climb, but can't imagine the Nice Japanese Government Men letting it, since a higher yen would wound their exports so badly. Without exports, Japan is pretty much 280 million people looking for a job and waiting to starve. Get ready for a 180 degree turn on gold, at least in the short-term. I looked at the chart this morning and LO! There's a large left shoulder (Tuesday), a head (Thursday), and the beginning of a shoulder above $1,635. It measures out a 50 point rise from $1,665, to $1,715, if I have identified it correctly. After that rise I expect more downside, but if gold can pierce $1,800 and hold its ground, then the tide has turned. Now I know y'all mean well sending me those news articles about the TSA setting up roadblocks in Tennessee to search people in cars and in bus stations, but let me tell y'all something, and y'all write this down in your book. Until SOMEBODY says "NO!" they will keep on doing this stuff, and so far, none of y'all will say no. You'll let 'em search your car without a warrant because you want to finish your trip on time or your kids are with you or your wife has supper on the stove at home. Until y'all plant your feet square on the ground, get out of your car and lock it and refuse to have it searched for lack of due cause, and go to jail for a day or a week or a month and risk them beating you up if you have to because that's the only way you can enforce your rights, the TSA and the government will continue to ignore and steal your ancient rights, rights older than Magna Carta. Ask any lawyer: without a Belligerent Claimant in Person, no rights exist. You have no rights you are not willing to enforce YOURself. No such thing as a Milquetoast Claimant In Person, begging government agents to please act nice and observe his rights. Hell will freeze over with ice six inches thick and icicles before that happens. Did the British leave the colonies because the Americans asked 'em real nice? Somebody has to say "NO!" Till you're ready to do that, might as well get used to wearing that steel collar round your neck and pulling out your papers fast and respectful-like. On 21 October 1922 Benito Mussolini took control of the Italian government and installed fascism in Italy. Why? Because not enough people said "NO!" One hundred one years ago today, 21 October 1910, my father was born in Michie, Tennessee. He never met a stranger. Y'all enjoy your weekend! Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2011, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. 
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| Federal Reserve Vice Chairman Lends Support to QE3 Posted: 21 Oct 2011 09:43 AM PDT Dear Jim, This sure sounds like a "trial balloon" for another round of Quantitative Easing. The gold market will explode if they go for it in my opinion. David D Fed's Yellen: QE3 May Be Warranted By Scott Lanman and Jennifer Oldham – Oct 21, 2011 11:57 AM PT Federal Reserve Vice Chairman Janet Continue reading Federal Reserve Vice Chairman Lends Support to QE3
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| Sorry Inflationistas, But This Chart Proves You Were Wrong Posted: 21 Oct 2011 09:31 AM PDT It's Friday. And you know what that means in the Wall Street Daily Nation. It's time for our weekly dose of graphics to drive home a point or two. This go-round, I'm taking aim at the Inflationistas. You know, those fear mongers that have been trying to tell us the end is nigh ever since the Fed embarked on its massive money-printing campaign. That prices for all sorts of goods and services – and interest rates – are about to skyrocket. And that our only salvation is not God, but the almighty gold bullion. Can you tell I was never afraid of their prophetic declarations? Well, that's beside the point. What matters is that inflation – and certainly hyperinflation – has proved to be nothing more than a bogeyman. And the charts I've selected for this week should serve as a nice piece of humble pie for all those Inflationistas. The question is, will they eat it? Show Me, Don't Tell Me Take a trip down memory lane with me and you'll recall a time not long ago – back in late 2009 – when the biggest story in the market was inflation. Almost every last soul was convinced we were on a crash course with higher prices and interest rates. Warren Buffett… Jim Rogers… Alan Greenspan… they were all jumping on the inflation bandwagon, too. A pundit on Fox News went as far as declaring he was "100% sure" inflation is going to hit. And not just inflation… but hyperinflation. And why not? Never in the history of the world had the Fed pumped so much extra liquidity into the market. When that happens, inflation always follows, right? Well, not exactly. As this chart demonstrates, inflation has proved to be no big deal. We're not even close to matching any of the major historical spikes.
So what happened? As I pointed out in a special webinar in 2009, everybody was ignoring the deflationary forces at work – like the collapse in housing, the contraction in personal credit and soaring unemployment. And that these forces were more than enough to offset the Fed's inflationary actions. Of course, the die-hard Inflationistas in the group have a knee-jerk retort. It's a little ditty that goes something like, "Wait for it, wait for it, wait for it." I'll keep waiting. Because in order to have inflation we need a wage-price spiral, wherein wages chase prices and prices chase wages. But that's not possible when wages aren't rising. And they're certainly not.
Bottom line: Runaway inflation is going to be like Lindsay Lohan at her court-appointed community service – a no-show. So don't let the Inflationistas scare you. They're wrong! Source: Wall Street Daily
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| JS Kim: Understanding Banker Manipulation of Gold & Silver Posted: 21 Oct 2011 09:07 AM PDT
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| Posted: 21 Oct 2011 08:42 AM PDT Addison Wiggin – October 21, 2011 Dear 5 Min. Forecast Reader, First, let me apologize. You haven't received a 5 Min. Forecast in two days… if you enjoy reading it as much as I do writing, well, you've probably missed the daily episodes. There's a good reason why you haven't gotten them. I've approached the last two days like an expectant father. For six years, I've been working on a new project… let's call it "Project X." The project is bigger than my book The Demise of The Dollar… and the two I co-wrote with Bill Bonner, Financial Reckoning Day and Empire of Debt. It's even bigger than my Sundance accepted documentary, I.O.U.S.A. And provided everything goes off without a hitch, "Project X" will not only change the way you look at the world, it revolutionize the way you invest, build new wealth, fund your retirement and even provide for your family. To say I'm a little nervous would be an understatement. There have been no less than 27 people involved in building and organizing this new venture. The team includes our founder, Bill Bonner; our team of in-house legal experts; the CEO and CFO of Agora Inc.; an entire new affiliate to the Agora family of companies; programmers, marketers, publishers; and the panoply of writers and thinkers you've come to rely on in the 5 Min. Forecast. Many of us have been working on "Project X" in secret. It would be hard to even count the number of hours that have already been thrown at it. Or the number of air miles we've logged to pull it off. Members of our own staff have even been wondering what we're up to… For obvious reasons, I can't reveal what "Project X" is just yet. But I can tell you what it is not: It's not the Apogee Advisory or any new newsletter. It's not a book. It's not a conference, symposium or cruise. It's not a new email service… or even a new documentary film. Fact is, it's not like anything we've ever done. But with our sincerest intentions it will allow you to independently — and confidently — build lasting wealth for you and your family. And I'm thrilled "Project X" is only a few short days away from getting launched. Again, I apologize for the delay in getting you The 5. But I hope you'll understand. There is a lot riding on whether or not you like what we've done! Cheers, Addison Wiggin P.S. Overnight, we had a last-minute break down with our legal department, which we've since resolved. Now, I believe, we're all set. On Monday, you'll receive an explicit set of instructions on what to do in order to be considered for inclusion in the new program. After you've had a chance to look it over, we'll be asking you to give us your feedback and let us know what we can do to improve the project. Until then, enjoy your weekend! The 5 will return once we've gotten "Project X" under way.
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| Why such a manipulated and covert gold market?, Rickards asks Posted: 21 Oct 2011 08:30 AM PDT 4:25p ET Friday, October 21, 2011 Dear Friend of GATA and Gold: Interviewed today by King World News, geopolitical analyst James G. Rickards laments the surreptitiousness and manipulativeness of the gold market. "Why do we have such a non-transparent, manipulated, covert system?," Rickards asks. "Why don't we have something that's more normal." Unfortunately the system Rickards laments has been the "normal" system for most of the 40 years since the United States repudiated the direct convertibility of the dollar into gold. An excerpt from Rickards' interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/10/21_J... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT For Continuous Wealth Creation, the Hera Research Newsletter The life cycles of companies that produce natural resources allow investors to allocate assets among companies at different stages of development and to profit from transitions between stages. Based on natural resource company life cycles, the Hera Research Newsletter maximizes profits through deep, fundamental analysis at each stage of development and by moving gains back to earlier-stage companies in a continuous wealth-creation process. Hera Research covers a pipeline of high-quality natural resource companies at different stages of development. The companies span discovery and production of gold, silver, and platinum group metals, select base metals, oil and gas, green energy, agriculture, rare earth elements, uranium, and more. Discover the unique value of the Hera Research Newsletter by visiting: http://www.heraresearch.com/newsletter.html Or call Ron Hera at 360-339-8541x101. 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 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...
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