Gold World News Flash |
- The collapse of health and the downfall of the U.S. economy (preview)
- Investors Intelligence - Stock Markets Still in Bullish Mode
- Gold Seeker Closing Report: Gold and Silver Fall Slightly
- Martin Armstrong See's Gold Taking Off In A Few Months
- Some Gold Comments By A US Trader
- Watch Rosenberg And Krugman Debate Larry Summers and Ian Bremmer On Whether The US Is Turning Into Japan
- Gold Mining Stocks On The Rise
- You're FIRED | Foreclosure Mill Lawyer Extraordinaire Steven J. Baum Dropped by Freddie Mac
- You're FIRED | Foreclosure Mill Lawyer Extraordinaire Steven J. Baum Dropped by Freddie Mac
- Italian Bond Auction Fails / Spanish 10yr Yields Reach 6% / Greek Problems Continue
- Jim's Mailbox
- This Will Be The Decade Of Silver – Interview With Eric Sprott
- Clarification on Alternative Realities
- The Rumors Were True: Paulson Liquidates A Third Of His GLD Gold Share Class; Buys More Bank Of America And Capital One
- The Gold Price Remains in an Uptrend Closing at $1,777.80
- Debt won't ever be faced but will just launch gold, Armstrong tells King
- G.I. Joe Cartoon Predicting the Dollar Collapse?
- John Kaiser: Gold as a Positive Economic Indicator
- The Gangs Next Door
- Martin Armstrong: Gold Upside Take Off Only Months Away
- What’s Driving Gold
- Disaggregated COT Data for Week Ending November 11
- Gold Short Term Trendline Defines Trend
- Gold Daily and Silver Weekly Charts - Who and What Is Safe?
- Financials Underperform Amid Lowest Volume Of The Year
- Update for Week Ending November11
- European Debt Crisis Threatens the Dollar
- Martin Armstrong - Gold Upside Take Off Only Months Away
- Dollar Teetering On The Abyss
- Gold Producers Lead while Developers and Explorers Lag
| The collapse of health and the downfall of the U.S. economy (preview) Posted: 14 Nov 2011 05:18 PM PST A new economic study by the U.S. government reveals that health care spending is rising so rapidly in the United States that in less than ten years, it will represent 20% of the domestic economy. That's an astonishing $1 out of every $5 in economic productivity, almost all of which is based on treating patients with fraudulently approved, dishonestly marketed and utterly harmful prescription drugs that do absolutely nothing to prevent or reverse chronic disease. This leads us to the astounding (but true) conclusion that conventional medicine is draining the U.S. economy of its productivity and competitiveness. Today, over 16% of the U.S. economy is spent on health care (sick care, actually), making medicine look a lot like a 16% tax on the entire economy. The result, not surprisingly, is that many U.S. corporations can no longer compete in the global marketplace. General Motors, for example, was spending more money on health care than steel. The result? The company is now largely considered bankrupt. But GM is just the tip of the iceberg on this issue. No country in the world spends anywhere close to 16% of its GDP on health care. Only the United States. But why does the U.S. spend so much in the first place? The answer is simpler than you think. It basically comes down to four factors: Read more: http://www.naturalnews.com/019321_Disease_Economy_economic_news.html#ixzz1dkhjWupd 
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| Investors Intelligence - Stock Markets Still in Bullish Mode Posted: 14 Nov 2011 04:25 PM PST  With volatility in stock markets picking up globally and gold and silver still consolidating recent gains, today King World News interviewed 32 year veteran John Gray from Investors Intelligence. When asked what we were seeing in the way of sentiment readings, Gray responded, "The sentiment itself allows for higher market levels. About six weeks ago we had a plunging market and it scared a bunch of advisors. That created more bears than bulls and that's relatively rare. We then had a very, very quick rally to the upside and it has been, somewhat, the speed of the up move that has prevented more bullishness as some of the advisors have been waiting for a pullback before they would reenter stocks again."
This posting includes an audio/video/photo media file: Download Now |
| Gold Seeker Closing Report: Gold and Silver Fall Slightly Posted: 14 Nov 2011 04:00 PM PST Gold reversed modest gains seen in Asia and fell to as low as $1773.77 by about 7:30AM EST before it bounced back higher in New York, but it still ended with a loss of 0.39%. Silver fell to as low as $33.948 before it also bounced back higher in late trade, but it still ended with a loss of 1.1%.
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| Martin Armstrong See's Gold Taking Off In A Few Months Posted: 14 Nov 2011 03:30 PM PST New interview from Martin Armstrong is out. He says the big money is planning for what France and Germany will do. He also things gold will continue sideways for up to a few more months and then take off. See full article here.
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| Some Gold Comments By A US Trader Posted: 14 Nov 2011 03:15 PM PST Mark Leibovit's Daily Comment on Gold Make sure you take delivery of your metal or have it stored in a place that you have ready access to it. Keeping some out of the country you reside is also wise. Also, pay close attention to the gold mining stocks. They are grossly undervalued relative to the metal. I am not saying you should go out this morning and load up the boat, but use corrections as an opportunity to do some fishing – but always emphasize the physical metal in your investment strategy.
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| Posted: 14 Nov 2011 01:54 PM PST Minutes ago, the always delightful Munk Debate on the American economy concluded, which pitted two skeptics: David Rosenberg and (yes, he is a skeptic when it comes to his belief in the "proper" implementation of Keynesianism) Paul Krugman on the one hand defending the null motion of the debate, against Larry "Warren (watch the clip)" Summers, best known for destroying capitalism, and Ian Bremmer. The core debate topic was as follows: "North America faces a Japan style era of high unemployment and slow growth an accurate forecast of the future." Naturally, as Krugman immediately explained, by North America the organizers mean the US, simply because Canada is too small and hasn't screwed up enough (we would add that the screw up has not been perceived yet: everyone has screwed up, but luckily we have enough distractions for the time being). Either way, the progression of the debate should not come as a surprise to most, neither how each particular economist will perform: that Rosie sees Japan in every aspect of the US should not surprise anyone; that Krugman does too unless the politicians agree to being invaded by aliens, is also to be expected. On the other side, "Warren" Summers' argument can be simplified to his fallback motto of Keynesianism and Central Planning 101 in which he believes that the printing of money and job creation are sufficient to fix all US problems. No surprise there either: after all this is the man who three weeks ago said: "The central irony of financial crisis is that while it is caused by too much confidence, too much borrowing and lending and too much spending, it can only be resolved with more confidence, more borrowing and lending, and more spending." So while certainly an interesting way to spend 90 minutes, we urge readers not to expect any preconceptions to be overturned (possibly quite the opposite). If anything, we urge readers to fast forward to 34 minutes into the clip to listen to Larry Summers' prepared remarks to realize the unprecedented degree of delusion that is being exhibited by the man who was Obama's right hand advisor during the key period in the "rebound" from 2009 to 2010. It is no wonder that the US economy is now in a worse condition than ever, and flirts with complete socio-economical collapse on a daily basis (as does Europe and the rest of the "developed" world) only to be pulled back from the abyss by the latest and greatest monetary and fiscal stimulus. Because should the methadone be taken away, the addict will die on the spot. The supreme irony of course is that for the grand reset to finally occur, what we need is not one or two more "Summerses", but a countless army of such delusional lunatics whose idiotic actions will finally destroy this country, ushering in a new and better age where we can finally restart from scratch. Watch the full debate below. It begins roughly 17 minutes in. munkdebates on livestream.com. Broadcast Live Free
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| Gold Mining Stocks On The Rise Posted: 14 Nov 2011 01:50 PM PST Bullets are flying in what has become the new warfare. In the old days wars were fought with Pearl Harbor surprises and outright takeovers of territorial assets. Previously the capital markets have been content to don jackboots and military strikes to control economic developments. With the advent of the nuclear deterrent now being possessed by an increasing number of nations, contemporary wars are morphing away from bullets and bombs. The elites have a good thing going. It is to their interest that the nuclear option be avoided at all costs. Ergo bonds, yen(FXY) and francs have become the new bullets. The Keynesian option has never really worked and has resulted in a series of conventional wars that have had questionable results. Now nations can be brought to their knees by skillful currency manipulations.
Witness how Soros became wealthy by his operations in crippling the Malaysian and English Currency. Such a maneuver is a poignant display that economic stimulus based on Lord Keynes socialist/palliative measures are at best doomed to eventually fail. It is sad to see the Swiss being mobilized to put a futile floor under the Euro. However, they are being drawn into the swirling vortex of the Eurozone currency convulsions. In reality, we question the sustainability of the German and Swiss interventions. In fact, the markets as we speak have responded with severe volatility in the general equity markets over 2011. A rally has been expected in equities, however, this incredible market rebound since our October 4th buy signal may indicate that investors are getting wise to the efforts of the European and U.S. Central Bankers to prime the pump. Investors may well be running from the Euro(FXE) into the U.S. dollar (UUP) and long term treasuries(TLT). It is curious that the Euro is not being buoyed by the Swiss intervention. This may be signaling trouble in Eurozone survival. The U.S. dollar is undergoing a rise which we believe is a cosmetic response to the weakness in the Euro. All short term currency manipulations produce technical gaps which inevitably is filled.
At the same time, the gold miners (GDX) are approaching interim upside targets as the upward breakout in the miners accelerates as it reaches new all time record highs. It is now playing catch up to the underlying bullion which we have been predicting for several weeks. There will be a shrinking of the divergence between miners and bullion to the advantage of the miners. Although we may see some short term profit taking in the miners this extended 12 month base may lead to a more extended long term move. In 2010, we did not see this decoupling of gold miners from equities in such a dramatic fashion. But that fear driving investors away from mining stocks may be reversing as miners regain safe haven status. It has become a common occurrence to see general equities down yet the gold(GDX) and silver(SIL) miners up significantly. This demonstrates investors are beginning to look at the gold miners as leaders in a market which is desperately looking for strength. As gold reaches these technical conditions it is important to remind readers of the gold:silver ratio. Silver may go up in a higher percentage terms than gold in this inflationary environment over the long term and has done so over the past three years. In 2011 silver has been in retreat. Nevertheless, we are confident that silver will also gain recognition as a hedge against global financial instability sooner rather than later. Gold (GLD) and silver (SLV) have undergone one of its characteristic declines in the month of September. As a runner settles backwards in his starting block in order to propel himself forward so does precious metals undergo healthy corrections in order to once again move into new highs in what is its upward secular pattern. The world is beset by a deluge of multiple macroeconomic problems ranging from the Eurozone Crisis to the Middle East Cauldron, which the media either mischaracterizes or totally ignores. These issues are long term concerns and will not be solved overnight. Add to this list of woes, rising U.S. unemployment and the malaise in housing and we have the perfect storm for precious metals as a long term haven. President Obama is slated to present his ideas to hopefully institute corrective measures to extricate the floundering global economies from its quagmire of fiscal quicksand. Bernanke comes to bat again in a few weeks. The 2012 election is right around the corner. This might be an inflationary signal. We refuse to be thrown off the bucking bull of precious metals. We share such sentiments as do astute buy and hold investors such as John Paulson, John Hathaway and Ron Paul whose portfolios are represented by a large percentage of gold miners which will be discussed in an upcoming essay. What about the U.S. dollar? The Swiss National Bank has put a cap on the Swiss Franc which had been viewed as a safe haven. This leaves the field up to gold/silver as well as the U.S. Dollar. The dollar might move upward as it represents the best of breed in a tepid brew of weak currencies. Remember the U.S. dollar's status of safe haven is an optical illusion in comparison to a backdrop of tired, old, fading beauties such as the Euro. Currency interventions produce gaps which are inevitably filled. Therefore we will continue on our long term path of wealth in the earth assets in the form of miners in gold(GDX), silver(SIL), rare earths(REMX) and uranium(URA).
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| You're FIRED | Foreclosure Mill Lawyer Extraordinaire Steven J. Baum Dropped by Freddie Mac Posted: 14 Nov 2011 01:06 PM PST
"This looks like the beginning of a well-deserved end for Baum. I'm pleased to have been the first attorney to file a federal action against him in 2010 spotlighting his foreclosure mill for a DOJ $2 Million Dollar fine and the AG continuing his investigation. I am also proud to be cooperating with Representative Elijah Cummings to end a crisis that only bad attorneys perpetuate by doing bad things to people and in the courts with improper filings. ~ Susan Chana Lask Esq.
Foreclosure and Bankruptcy Referrals in New York
Steven J. Baum, P.C. Tel: (716) 204–2400 E-mail: Sbaum@mbaum.com or ccascino@mbaum.com Courtesy of FreddieMac.com I told you all those Halloween pictures would be his downfall... Next up, removing the pending cases... Mark my words, it will happen... This is how David J. Stern's downfall started here in Florida, See ya at the bottom Baum...
www.4closureFraud.org
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| You're FIRED | Foreclosure Mill Lawyer Extraordinaire Steven J. Baum Dropped by Freddie Mac Posted: 14 Nov 2011 01:06 PM PST
"This looks like the beginning of a well-deserved end for Baum. I'm pleased to have been the first attorney to file a federal action against him in 2010 spotlighting his foreclosure mill for a DOJ $2 Million Dollar fine and the AG continuing his investigation. I am also proud to be cooperating with Representative Elijah Cummings to end a crisis that only bad attorneys perpetuate by doing bad things to people and in the courts with improper filings. ~ Susan Chana Lask Esq.
Foreclosure and Bankruptcy Referrals in New York
Steven J. Baum, P.C. Tel: (716) 204–2400 E-mail: Sbaum@mbaum.com or ccascino@mbaum.com Courtesy of FreddieMac.com I told you all those Halloween pictures would be his downfall... Next up, removing the pending cases... Mark my words, it will happen... This is how David J. Stern's downfall started here in Florida, See ya at the bottom Baum...
www.4closureFraud.org
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| Italian Bond Auction Fails / Spanish 10yr Yields Reach 6% / Greek Problems Continue Posted: 14 Nov 2011 12:34 PM PST by Harvey Organ: Good evening Ladies and Gentlemen: Today the risk trade was off as the dollar rebounded, gold was hit a bit and the Dow fell by over 74 points. We will explore the Italian bond auction/the Greek problem as 8 billion euros worth of bonds come due on Dec 8.2011 and next week, we need a decision on the USA deficit reduction. However let us head over to the comex and assess trading today. The gold price today lowered by $9.70 to $1777.80 as the Euro was tagged due to a failed Italian bond auction. The price of silver lowered to $34.01 for a loss of 66 cents. At 5 pm est, (as I write the commentary) here is the price of gold and silver in the access market: Read More @ HarveyOrgan.Blogspot.com
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| Posted: 14 Nov 2011 12:11 PM PST Dear Jim, And in the meantime the US financial media tells you gold and silver are just shiny pretty metals. CIGA Madsionstyle JRG International launches Emirates Investor Savings Plan United Arab Emirates: Saturday, November 12 – 2011 at 12:22 JRG International Brokerage DMCC, a leading broker and clearing member of the Dubai Gold and Continue reading Jim's Mailbox
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| This Will Be The Decade Of Silver – Interview With Eric Sprott Posted: 14 Nov 2011 11:36 AM PST by Karl Denninger, SeekingAlpha.com:
Patrick MontesDeOca: Mr. Sprott, can you please give us the current situation in terms of price in the silver market? What you might see in the short term as it unfolds in the next six to twelve months, what is your forecast? Eric Sprott: Sure, I take a longer term view than six to twelve months. I've been involved in silver for about probably almost ten years now and of course the price of silver has done wonderful things in that time period even though recently it has come under a lot of pressure. My thesis being that even though the last decade has been the decade of gold, this decade will be the decade of silver. I can only imagine that it will go back to its historical relationship to gold of 16 to one in term of price. And as an example of 16 to one, with gold at $1600 it would suggest that the silver price should be $100.
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| Clarification on Alternative Realities Posted: 14 Nov 2011 11:33 AM PST Author: Vedran Vuk Synopsis: David Galland sheds more light on the unique human tendency to create and act on alternative realities... and why it's not always such a bad thing. Dear Reader, It's that time again… the happy emails are filling our inboxes at Casey Research. With gold flirting with the $1,800 mark, it is once again clear that the rumors of gold's demise have been greatly exaggerated. Of course, we're always glad to hear from satisfied customers who are making money on our investment recommendations, but some emails can be concerning. A few subscribers are way over-allocated toward gold. At Casey Research, we recommend holding one-third precious metals, one-third other investments, and one-third cash. Most people in the industry would consider our one-third precious metals allocation outrageous. Yes, we know that we're pushing the envelope here, but som...
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| Posted: 14 Nov 2011 10:05 AM PST Well, he may not be liquidating, and he may be telling others he has experienced barely any redemptions, but Paulson's gold share class, represented entirely by the fund's GLD holdings would beg to differ: as of September 30, Paulson's total holdings of GLD were down by a third from 31.5 million shares or $4.6 billion at the end of Q2, to 20.2 million or $3.2 billion. And as is well known, GLD is not an actual investment for Paulson, but merely a representative asset class for those who opt to have their fund holdings represented in gold (the smart ones) instead of in dollars. Indicatively the only Paulson & co investors who made any money, or at least did not lose much, were those who opted for a gold share class. Either way, it is now safe to assume that at least a third of the fund has been permanently redeemed, further confirmed by the drop in the AUM from $29 billion to $20.7 billion as per the actual filing. But wait, there's more: while Paulson was busy selling across the board, in the process liquidating all of his JPM holdings as well as his positions in Comcast (no CNBC for you), Savvis, NYSE Euronext and State Street, and following in Tepper's footsteps in selling across the board, the former Bear trader did what all other allegedly doomed institutions do and added to, you guessed it, the biggest loser Bank of America, increasing his position by almost 4 million shares... even as the total value of his 64 million BAC stake, which closed Q3 at the same price it is today, dropped by $269 million! And that's why he is a billionaire and you are not. At least we know who Tepper was selling to. But that's not all: Paulson also added 1.1 million share to his CapitalOne position, bringing the total to 22.2 million shares, even as the total value of his revised position dropped by $210 million to $880 million. And so forth. Some other names in which he took brand new stakes in (picture that: he did not spend all of Q3 selling) in Motorola Mobility, Nalco, Cephalon, AMC and a bunch of irrelevant others. So to all those who are now in the same place they were in 2008: tough, but at least your fees made JP into a multi-billionaire. Congratulations.
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| The Gold Price Remains in an Uptrend Closing at $1,777.80 Posted: 14 Nov 2011 10:01 AM PST Gold Price Close Today : 1777.80 Change : (9.70) or -0.5% Silver Price Close Today : 3401.3 Change : (65.8) cents or -1.9% Gold Silver Ratio Today : 52.268 Change : 0.712 or 1.4% Silver Gold Ratio Today : 0.01913 Change : -0.000264 or -1.4% Platinum Price Close Today : 1644.40 Change : 1.20 or 0.1% Palladium Price Close Today : 664.90 Change : 3.95 or 0.6% S&P 500 : 1,251.91 Change : 11.94 or 1.0% Dow In GOLD$ : $140.45 Change : $ (0.09) or -0.1% Dow in GOLD oz : 6.794 Change : -0.004 or -0.1% Dow in SILVER oz : 355.13 Change : 4.59 or 1.3% Dow Industrial : 12,079.06 Change : -74.62 or -0.6% US Dollar Index : 77.47 Change : 0.608 or 0.8% The GOLD PRICE tripped $9.70 to close at $1,777.80 on Comex, but that painted no big break on the chart. All it did was return to that well-known $1,775 support, reserving its option to challenge $1,800 again this week. The five day chart shows gold touching $1,800 last Wednesday, and nearly touching it again this weekend. That could make a double top, but the GOLD PRICE has not tipped its hand yet. A trend in force remains in force until broken, and gold's uptrend hasn't been broken yet. A break below $1,775 would hurt gold badly, pointing it toward a minimum $75 and possibly $100 drop (as low as $1,675). Danger of that happening would be annihilated by a two-day gold close above $1,800, and break gold out upside. The SILVER PRICE is mimicking the GOLD PRICE, but with a bit less fervor. She has returned to that well known 3400c support/resistance, and the stakes here are high. Should the SILVER PRICE fall through 3400c, it steps off the top of the building into thin air. Today's range was 3478 - 3393c. Most likely course is a downside break, since the SILVER PRICE has formed an ascending wedge which usually resolves by breaking out downside. That, however, could reverse in an instant with any slip by the Fixers in Europe. Markets are nervous as a banker in church. Here's a message for gold-silver swappers. If back earlier this year you swapped out of silver into gold, you can now swap back into silver with an approximate 37% gain. I'd grab that. (That will only work if you swap back into US 90% silver coin. Any other form of silver severely lowers your gain in ounces because they carry such high premiums). Today's markets really didn't tell us very much. Stocks dropped a smidgen, along with SILVER and gold, while the euro fell and the dollar index rose. Still, everything remains in the old familiar trading ranges. Wait -- y'all don't think markets really have been fooled by those two Establishment front men installed to end all popular government in Italy and Greece, do y'all? As I always say, the Establishment has only two weapons, liquidity and blarney. Those two shills represent big booms from the Blarney Cannon. To the facts! US dollar index rose 60.8 basis points or 0.78% to 77.471, a sizeable move. What accomplisheth this on the 5-day chart? Wednesday last week the $ index rose straight up from 76.6 to 78.0, peaked nearly 78.20 early Thursday, then fell into Friday's low about 76.8. It left behind a support level at 77.40. Thus today's rise, clearing 77.40, contradicts all that downside last week, and points the dollar up again. As long as it advances tomorrow, 'twill be in rally mode. Watching the Japanese yen is as embarrassing as accompanying your friend to his daughter's piano recital where you doesn't know the piece and thumbfingers her way through. Money has been fleeing Europe and some wanted to run into the yen, but the Japanese Nice Government Men couldn't allow that, because a higher yen chokes off Japanese imports, and Japan is nothing more than an island-factory exporting to live. At last they acted, and the yen dropped from 132c/Y100 to 127.50 in one day. But it was shortsighted, because they only punished those long Yen without giving them a reason not to buy yen again. The yen has since crept up to close 129.69 today, up 0.87% and above its 20 day moving average (129.62 today). Worse still, it has crept back above the downtrend line and the trading range above that, and is about to cross above the 50 dma (129.93). All this isn't because the Yen is the prettiest currency around and everybody wants to dance with her. Rather, she just doesn't have quite as many warts as all the other girls. The euro rose on Friday with the news that Fixers had been installed in Italy and Greece, but puked back all those gains today. Closed 1.3630, down 0.87%, and headed for 1.2000. STOCKS today continued slowly the decline begun from Friday. That Friday peak itself is part of a double top about 12,175. Expectation remains -- unless gainsaid by a close above 12,175 -- that the Dow Jones Industrial Average will continue to sink. Momentum is BARELY up since the Dow stands above its 200DMA (11,977), but not by much. May still see one last push up to 12,400 before it collapses, but sooner or later collapse it will. Dow closed down 74.62 (0.61%) at 12,079.06. S&P 500 dropped more, 11.94 (0.94%), to 1,251.91. News stories are surfacing again about counterfeit coins pouring counterfeit coins pouring out of China. Remember that counterfeiters most often counterfeit coins that carry large premiums, so that out of an ounce of $,1800 gold they can produce 20 one-dollar coins that sell for $10,000 an ounce. That's another reason always to stick with low premium bullion type coins and eschew numismatic coins. Besides, the weight and dimensions of bullion coins -- Austrian 100 coronas, Mexican 50 pesos, Krugerrands, American Eagles, Maple Leaves -- are all known, and simply by WEIGHING you will catch almost all counterfeits. You'll find a complete chart of weights for gold coins at http://the-moneychanger.com/images/coinweightsgross.xls These counterfeit reports generate waves of hysteria in the market, when in fact counterfeit gold coins are generally a negligible problem. Of course, you ought always work with a reliable gold and silver dealer who has been in business for a long time -- like us. Remember that thirty years' experience might not mean much. Many dealers have 30 years' experience, but it's only one year's experience thirty times. Be careful, and count your change. - 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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| Debt won't ever be faced but will just launch gold, Armstrong tells King Posted: 14 Nov 2011 09:34 AM PST 5:28p ET Monday, November 14, 2011 Dear Friend of GATA and Gold: Market analyst Martin Armstrong today tells King World News that the Western world's debt has become unpayable, that there's no plan to deal with it and won't be a plan, and that realization of this will propel gold upward "in a few more months." An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/11/14_M... 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: Vancouver Resource Investment Conference http://cambridgehouse.com/conference-details/vancouver-resource-investme... California Investment Conference http://cambridgehouse.com/conference-details/california-investment-confe... 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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| G.I. Joe Cartoon Predicting the Dollar Collapse? Posted: 14 Nov 2011 09:30 AM PST |
| John Kaiser: Gold as a Positive Economic Indicator Posted: 14 Nov 2011 09:23 AM PST The Gold Report: Gold prices reached historic highs during the last quarter. However, in a recent Kaiser Bottom-Fish newsletter, you showed the Toronto Stock Exchange Venture (TSX.V) listings since February have had dramatically more down than up days. Is this a correction or a long-term trend? John Kaiser: What we have seen is a negative response by ordinary investors to a deteriorating economic outlook for the United States and the world, which we might call a correction of expectations. But what worries me about a long-term trend is the growing prevalence of volatility-based profit harvesting, high-frequency and algorithmic trading paired with the elimination of the downtick rule for short selling, which allows traders to push markets down or up at will and in the process destroy perceptions of value in the market. This has been particularly intense in the junior resource sector, which the TSX.V is dominated by, because these companies, generally, do not have revenues and cash flow...
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| Posted: 14 Nov 2011 09:13 AM PST Dave Gonigam – November 14, 2011
Turns out… the promise is not all it's cracked up to be. Current figures from the Bureau of Labor Statistics (BLS) peg the unemployment rate of the general population at 9%. Among veterans, it's 12.1%. And among the youngest veterans, under 25, the figures are jaw-dropping — both in the absolute number and the rate of growth from a year ago.  Widen the scope a bit, and the numbers are still ugly: Among veterans aged 18-34, unemployment grew from 12.6% in October 2010 to 16.6% last month. And of course, those are the official unemployment figures — not including the folks who can get only part-time work or who've given up looking for work.
Sound far-fetched? Recall the study we wrote about on Oct. 25, in which the FBI found that gang membership in suburbs and inner cities had grown 40% since 2009… and that more than 100 police agencies had come into contact with gangbangers who had military experience. Consider further, as former CIA analyst Ray McGovern observed, that "more than half of the U.S. Army is drawn, via a poverty draft, from the inner cities and the small towns of less than 50,000 — places with few jobs and even fewer educational opportunities." And then consider a Justice Department study titled "Modern-Day Youth Gangs," which studied places where gangs were a relatively recent phenomenon. "The later onset jurisdictions," said the report, "were most likely to be in rural counties, smaller cities and suburban counties with populations of less than 50,000."
Mr. Tucker meant that people are capable of organizing their own affairs without top-down direction from government. "Civil society" is perfectly capable of functioning on its own. This can be a good thing — as when the patriots of the 1770s formed Committees of Correspondence — shadow governments of sorts — in each of the colonies. It can be a neutral thing — in which Occupy Wall Street protesters form general assemblies, where they reach consensus about everything from the statements they issue to who takes care of sanitation. Or it could turn downright ugly… It would, likely, be offensive to suggest gangs of veterans will be taking over your neighborhood tomorrow. But with climbing and sustained unemployment… something's gotta give. We expect many unexpected themes to develop in these pages as the "mother of all financial bubbles" bursts… then really begins to pick up speed.
"Despite the scariness of last Wednesday's selling, the most important take-away is where stocks ended up: well above our 1,225 support level for the S&P. Until that 'price floor' in the broad market gets broken, the big picture hasn't changed for stocks." In the meantime, traders wring their hands as a dry eurocrat becomes Italy's caretaker prime minister… and Italy auctions five-year bonds at 6.2%, a record for the euro era and a full percentage point higher than last month. Ho hum.
The EU issued a pro forma denial — what else would you expect? — but now the question will linger over every European bond auction from this point forward. Including Italy's today.
Mr. Wolfson is offering 250,000 euros to anyone who can dream up a scheme for how a country or countries can leave the eurozone without blowing up the world financial system. "This prize," he says, "aims to ensure that high-quality economic thought is given to how the euro might be restructured into more-stable currencies." If you're interested, submissions are due by Jan. 31. If the judges deem none of the submissions worthy, Wolfson might extend the deadline. Heh, this might be the first contest in history that never ends…
"Gold has been subjected to 'margin sale' pressures," observes Abe Cofnas, "in which selling gold to meet margin calls has diluted its strength." He sees a bump up to $1,784 as a near certainty this week — a small move that could deliver big 96% gains to his readers by Friday. Last week was a textbook week for his strategy: gains of 18% on oil… 22% on Germany's DAX Index… and 51% on gold, offsetting one losing play on the Swiss franc very nicely. To learn more about Abe's approach to trading, check this out:
"The restaurants and bars are hopping at night. There are a number of scaffolds on buildings being renovated or cranes atop new ones. There are old French colonial buildings being restored as hotels, restaurants, apartments and more." But it's farmland that's caught Chris' eye, with the help of our friends at the Cambodian-based private equity firm Leopard Capital. "The big picture, you well know. We're going to need to produce more food to feed a growing and increasingly affluent global population that's eating more-complex diets. The land to do that has to come from somewhere. Cambodia is one of those land banks." "You can get a 20-year concession for only $400 a hectare. You have to invest about $3,500 per hectare to get it to production. So let's say you're all-in for $4,000 per hectare. Meanwhile, producing rubber plantations go for $15,000-20,000 in Cambodia and pay a 9-10% yield. So that's a four-bagger — with yield, too. Sounds like a winner, right?" "Ah, but there is a catch. It can take a long time to get approvals. Leopard's been working on it for over a year, but is very close now. And when you start to factor in the time value of money and other expenses occurred along the way, the deal does not look quite as sweet." "But at some point, the land will get to production, because the economic incentives are so great. It's just a matter of time." Chris, meanwhile, is still writing up the idea he latched onto in Thailand — the one so lucrative he won't tell us here in Baltimore what it is. You can receive the recommendation in your inbox as soon as it's ready, if you're a member of Mayer's Special Situations.
The monument in Springfield, Ill., features a Civil War artillery officer wielding the sword. Someone broke it off at the handle and snagged it, well, sometime between September and early this month: No one was paying that much attention.  Say this much: The sword should be a lot easier to melt down and sell than the 2.7-ton church bell stolen recently in San Francisco… and abandoned in Oakland.
"Citizens seem to be of one accord in 2011, the world over. Maybe it's being tired of class rule, maybe it's just Twitter and Facebook. But it's the governments who are becoming a minority."
"I believe we can win, that we are in the process of taking back our rights. I call it The Moment. I don't believe it can be stopped. However, it can get very messy. We are one Kent State away from the unknowable. Glad you're pulling the rope with us on our side."
"Personally," he adds, "I buy 'Two Buck Chuck' aka Charles Shaw from Trader Joe's, and Oak Leaf at Wal-Mart, and enjoy every sip. Also, I am old enough to have bought wine for 98 cents a gallon at Almaden Winery in San Jose, when I brought my own jug." The 5: We knew going in that Mr. Tucker is a polymath, but the wine essay was a surprise and a delight. We look forward to many more, even as he focuses in on his task of bringing the storied Laissez Faire Books brand into the 21st century. On that subject, if you missed his video talk on Friday, it's definitely worth a look: 
"I settled for the more-conventional spot of a decoy safe and another bolted down hidden in the basement. But before that move, I also thought hard about putting some of my Maple Leafs sealed into a piece of ABS pipe, and then dropped into my 'sewage pit' that is installed in our basement to handle a basement washroom." "It is sealed up, looks innocent enough from the outside and who would really want to open it up? Not your average crook. But I decided against it, as I really did not want to have to break the seal on it, if I needed access to my stash." "Have enjoyed your missive since its inception, but first time writing."
"There is a gang of thieves in Atlanta that is targeting Indian family homes (looks like they have some inside information on addresses). They come prepared with a metal detector to find the gold hidden in tins of flour and other hiding places." "Just a warning. News like this travels fast in the criminal world, so be careful." The 5: Good point. The "booksafe" solution we've developed — a hollowed-out edition of Empire of Debt and Mobs, Messiahs and Markets professionally stitched together — benefits most from a big bookshelf! Cheers, Dave Gonigam P.S. Addison is off on another Project X mission today. He says he'll be back tomorrow, perhaps with a report. P.P.S. We have only 33 Gold Buffaloes remaining, if you're still interested in taking us up on our one-of-a-kind offer. The deal includes 10 Silver Eagles, the aforementioned booksafe and lifetime access to everything we publish. When the coins are spoken for, the offer comes off the table. Here's where to take advantage.
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| Martin Armstrong: Gold Upside Take Off Only Months Away Posted: 14 Nov 2011 09:08 AM PST from King World News:
With gold and silver still consolidating recent gains, King World News interviewed internationally followed Martin Armstrong, Founder and Former Head of Princeton Economics International, Ltd.. Armstrong's firm rose to be perhaps the largest multinational corporate advisor in the world. When asked about the continuing crisis, Armstrong replied, "The politicians are not really willing to address the issues. The real issue is the debt crisis and the politicians are hoping that everybody's going to forget and they can get back to business as usual. What this is really about is it's the entire Western civilization that's starting to crumble." Martin Armstrong continues: Read More @ KingWorldNews.com
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| Posted: 14 Nov 2011 08:52 AM PST The Gold Speculator
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| Disaggregated COT Data for Week Ending November 11 Posted: 14 Nov 2011 08:36 AM PST Delayed COT report released by the CFTC. HOUSTON -- Just below is our recap of last week's disaggregated commitments of traders data (DCOT) from the Commodity Futures Trading Commission (CFTC) for the week ending November 11. Positioning and closing data as of Tuesday, November 8, as released by the CFTC at 15:30 today, Monday, November 14. The report was delayed due to the Veteran's Day holiday.
In the DCOT table above 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. We will be adding commentary about the COT and DCOT reports in our technical graphs for gold and silver, available to Vultures (Got Gold Report Subscribers) on the password-protected GGR Subscriber pages either later this evening or sometime Tuesday morning.
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| Gold Short Term Trendline Defines Trend Posted: 14 Nov 2011 08:31 AM PST courtesy of DailyFX.com November 14, 2011 08:17 AM 300 Minute Bars Prepared by Jamie Saettele, CMT Gold has slowly crawled higher for nearly 2 months but has yet to retrace the entire September decline. As long as the channel holds, respect the potential for a continuation of what started in September (sharp declines). Coming under the short term support line and 1735 would trigger a near term bearish bias. Latest Video Other TA Articles...
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| Gold Daily and Silver Weekly Charts - Who and What Is Safe? Posted: 14 Nov 2011 08:18 AM PST |
| Financials Underperform Amid Lowest Volume Of The Year Posted: 14 Nov 2011 08:15 AM PST It seems bifurcated investors have well and truly deserted the markets as NYSE volumes (MVOLNYE on Bloomberg) closed at their lowest of the year and ES 25% below average volume. A slow and steady drop all day in risk assets stalled a little in the afternoon as newsflow dried up and broad risk markets added nothing to the selling pressure. Financials underperformed, making a late day recovery but losing much of that bounce into the close - though we note the machines managed to magically close ES perfectly at VWAP. Broadly credit and equity stayed in sync today but we noted HYG getting hammered in the afternoon - only to revert back to HY by the close. EURUSD held above 1.36 into the close with the USD obviously stronger and dragging down commodities with all but Copper losing ground from Friday's close.
Credit (HY and IG) markets for once stayed nicely in sync with equity markets - but the huge dip in HYG in the afternoon suggests (as we have pointed to again and again) that hedgers found its liquidity more useful than HY17 (the CDS index) as some technical issues with recent defaults might be creating angst in the latter. Fascinatingly - as we approached the close - HYG rallied smartly back up to its HY17 'brother' - we have pointed to this repeatedly as an opportunity for cross-desk arb.
This HY-HYG arbitrage trade is generally only available to institutions (given the ISDAs involved) but there are ways to play the cross-asset move in the retail ETF space and today's move in the SPY Arbitrage model (a model that attempts to mimic SPY performance via a weighted basket of Volatility (VXX), interest rates (TLT), and High Yield credit (HYG)) shows the divergence and convergence as it happened. Buying a weighted basket of the VXX, TLT, HYG against selling SPY (or vice versa), given the tightness of bid-offer spreads, can be profitably traded based on trigger levels and mean-reversion. While not always as perfect as this (and not tradable by all), it is often a useful gauge for how disconnected SPY is from the broad top-down capital structure asset classes of rates/vol/credit on an intraday basis. The drop in HYG (which drove the Model down in the above chart) suggested that the equity market should have fallen but it remained somewhat resistant - and the disconnect from HY17 also helped to show that the HYG move was very technical (i.e. hedge flows) and not simply a broad risk-off move. Of course, with volume so weak, today's market seemed too thin to make any real judgments but still we closed near 'fair value' across these instruments. Aggregate NYSE volume (MVOLNYE on Bloomberg) at its lowest of the year - incredible!
For some perspective on this volume - it appears we are running a few weeks ahead of the typical seasonal pattern of liquidity/volume drying up. This chart shows the seasonal averages (highs and lows also) of the MVOLNYE index from Bloomberg.
FX markets stabilized a little after Europe's close - though it is notable that JPY started to lose ground against the USD (after retracing over 75% of its intervention gap).
The afternoon's generally lackluster performance seemed most evident in CONTEXT as it did not partake of the dip lower in stocks. ES retraced back up to the risk-asset basket into the close. We would look for 2s10s30s to drop or TSY yield compression to be the bigger driver of a next leg down.
Gold managed to outperform away from Copper's exuberance (though Copper fell over 2% from early morning highs) - clinging to $1780 as Oil and Silver continued their high beta inverse performance relative to DXY's 0.74% rally. Chart: Bloomberg
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| Update for Week Ending November11 Posted: 14 Nov 2011 08:13 AM PST Includes delayed COT data. HOUSTON -- Just below is this week's closing table for the week ending November 11, 2011, updated to include the CFTC commitments of traders (COT) data for November 8, which was released at 15:30 ET today, Monday.
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| European Debt Crisis Threatens the Dollar Posted: 14 Nov 2011 08:09 AM PST The global economic situation is becoming more dire every day. Approximately half of all US banks have significant exposure to the debt crisis in Europe. Much more dangerous for the US taxpayer is the dollar's status as ... Read More...
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| Martin Armstrong - Gold Upside Take Off Only Months Away Posted: 14 Nov 2011 07:56 AM PST  With gold and silver still consolidating recent gains, King World News interviewed internationally followed Martin Armstrong, Founder and Former Head of Princeton Economics International, Ltd.. Armstrong's firm rose to be perhaps the largest multinational corporate advisor in the world. When asked about the continuing crisis, Armstrong replied, "The politicians are not really willing to address the issues. The real issue is the debt crisis and the politicians are hoping that everybody's going to forget and they can get back to business as usual. What this is really about is it's the entire Western civilization that's starting to crumble."
This posting includes an audio/video/photo media file: Download Now |
| Posted: 14 Nov 2011 07:52 AM PST We all better hope I'm wrong on this one, but I think the CRB just put in its three year cycle low in October. I'm also afraid that Bernanke has done irreparable damage to the dollar. If I'm right about both of those assumptions then we are on the brink of a historic inflationary period. I've marked the major three year cycle bottoms in both the CRB index and the dollar index on the chart below with blue arrows. (Actually the CRB cycle tends to run about two and half years on average). The dollar is now a great risk of forming a left translated three year cycle. A break below the October 27 intraday low would initiate a pattern of lower lows and lower highs of an intermediate degree. When the intermediate cycles start to roll over that is usually a sign that a major cycle has topped. If the dollar's three year cycle has topped after only five months we will be at great risk of a severe currency crisis in the fall of 2014 when the next three year c...
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| Gold Producers Lead while Developers and Explorers Lag Posted: 14 Nov 2011 07:41 AM PST Back in August we wrote a piece titled: The Catalyst for Consolidation in the Gold Sector. We noticed that the large cap producers had begun to outperform the rest of the sector which consists of small producers, developers and explorers. Read More...
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We're sure you've seen them: TV ads trying to attract recruits to various branches of the military by touting the job opportunities they'd have after their hitch was up? You know, because you'd get to save satellites from space debris… or at the very least, have "transferable skills" in the field of electronics?
"If we keep going in this direction," observes John Robb at 
The thought this morning resonates with something Jeffrey Tucker observed in the video we attached to 
If misplaced relief over the euro can bring the market up on Friday, misplaced angst about the euro can bring it down on Monday. Thus, the S&P 500 is down more than 1%, to 1,250.
"At this point," suggests one of our resident technicians, Jonas Elmerraji, "investors are just delaying the inevitable. Once all of this investor ennui gets wrung out of stocks, the technical picture is still looking pretty bullish."
The truly unnerving development from Europe is the one nobody's talking about today: According to the London Telegraph, the eurozone bailout fund stepped in to buy 100 million euros worth of its own bonds last week, because no one else would do so.
Thus, it might already be too late for anyone to win the contest just announced by Simon Wolfson, CEO of the European retailer Next.
The gold price is, once again, stable as a new week begins. At last check, the spot price was a very patriotic $1,776. Silver, however, is struggling to hold onto $34.
"There is a definite energy here, a good vibe," writes Chris Mayer from Phnom Penh, Cambodia — the latest stop on his scouting trip to Southeast Asia.
To our large and growing list of epic metal thefts, we add this today: a copper sword from President Abraham Lincoln's tomb.
"That's a very good observation on Friday," writes a reader of our 
"Welcome," a reader greets Jeffrey Tucker, whose observations helped flesh out our thoughts on Friday. "We are at a tipping point regarding the future of liberty. With your help, we may sit on the fulcrum and tip over onto the side of personal liberties."
"Roll on, Jeffrey," says another. "The work you have taken on is the only way we can get out of this vicious circle of left/right struggle."
"I will pass your piece on to my winemaker friends here in the gold country, the original California wine country, even before Napa," says a reader of Jeffrey's reflections on wine.
"In response to the guy with two safes (one a decoy safe), I've also thought long and hard my own places to stash," writes a reader weighing in on the storing-precious-metals debate inspired by 
"Just a note of caution," a final reader warns, "to the people who hide gold and silver in false walls and other hiding places around the house.
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