Gold World News Flash |
- Michael Pento - Failed German Auction Will Force ECB to Print
- The Money Crisis First Blush
- Gold: What the !@#$%^&* Is Going On!
- Gold, U.S. Dollar, U.S. Treasuries, & China: Contrarian Opportunities?
- MADE IN U.S.A. vs. MADE IN CHINA
- Gold Seeker Closing Report: Gold Ends Slightly Lower While Silver Slips 3%
- CFTC Defines “Swaps”- Silver Shorts Have 60 Days to Comply With Spot-Month Limits
- The Roads To War And Economic Collapse
- Not enough money in the world for bailouts, Sprott tells King World News
- China Will Collapse By The End Of 2011
- Jim Rogers, “You Should Own Silver”
- Why Is Gold Falling? Should I Buy, Hold or Sell?
- Canadians Take Note: Own Physical Gold via Canadian Mint?s New Gold ETRs
- Gold and Silver Raid / Failed German Auction / Europe and USA Stocks Tumble
- Richard Russell: In The End My Survival Vehicle Will Be Gold
- Buyers Of German Bonds Finally Pulled Out Their Calculators
- Alert Status: Still Elevated
- Gold Stocks Due for a Breakout Soon
- Gold Daily and Silver Weekly Charts - Post Option Expiration Gut Check Doesn't Stick
- Thanksgiving Tally: Lunatics And Hacks Win As Gold Up 19.3% YTD; S&P Down 7.5%
- Jordan Roy-Byrne: Gold Stocks Due for a Breakout Soon
- Gold Price Bull Market Continues, Use This Correction To Buy More Gold Cheap
- Germany Sells 150,000 Troy Ounces Of Gold In October... But Not Why You Think
- Eric Sprott - This Financial Crisis Will Be a lot Worse Than 2008
- The Case for $1,390 Gold Soon ? and $1,000 Gold Later
- Differing Views of Wealth: How Insiders and Outsiders Approach the World of Money
- Gold Under 13 Week Average-Working Towards 52 Week
- Crude Oil, Gold Likely to Fall as Euro Debt Crisis Touches Germany
- The euro crisis: The screw tightens
- Have A Great Thanksgiving Holiday
| Michael Pento - Failed German Auction Will Force ECB to Print Posted: 24 Nov 2011 03:45 AM PST  With continued turmoil in global markets and gold remaining firm near the $1700 level, today Michael Pento, of Pento Portfolio Strategies writes for King World News to explain why the failed German bond action will force the ECB into massive inflationary printing: "If you ask me who I think is even more disgusting then the perennial Wall Street cheerleaders, it is those perennial inhabitants in Washington. This week we received further confirmation that it is impossible for our leaders in government to cut even one penny of our debt."
This posting includes an audio/video/photo media file: Download Now |
| Posted: 23 Nov 2011 06:39 PM PST Bullion Vault
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| Gold: What the !@#$%^&* Is Going On! Posted: 23 Nov 2011 06:32 PM PST What's going on? If gold is the great anti-asset, the thing to hold when everything else is in collapse why is it now trading…[below $1,700 and] not $2,000? Words: 1139 So asks Merryn Somerset Webb ([url]www.moneyweek.com[/url]) in*her original*article*. [INDENT] Lorimer Wilson, editor of [B]www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) has further edited ([ ]), abridged (…) and reformatted (some sub-titles and bold/italics emphases) the article below for the sake of clarity and brevity to ensure a fast and easy read. The author's views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.[/B] [/INDENT] Who in the world is currently reading this article along with you? Click [COLOR=#0000ff]here[/COLOR] Webb goes on to...
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| Gold, U.S. Dollar, U.S. Treasuries, & China: Contrarian Opportunities? Posted: 23 Nov 2011 06:16 PM PST Deepcaster
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| MADE IN U.S.A. vs. MADE IN CHINA Posted: 23 Nov 2011 04:14 PM PST  The illegals here are getting free housing, welfare, food stamps etc, they can be found applying for it in health departments and human resource offices across the nation, that's how they can work cheap! BTW Barry is backed by the muslim nations, it's his job to destroy this country, they've paid for his schooling and political funds, he's approaching a billion for the next election. The economy can't recover until people are back to work, but jobs are outsourced to cheaper countries!Most Americans just don't care about this country and all companies located in the U.S. LIKE ACADEMY really just care about the dollar. Watch the video.... 
This posting includes an audio/video/photo media file: Download Now |
| Gold Seeker Closing Report: Gold Ends Slightly Lower While Silver Slips 3% Posted: 23 Nov 2011 04:00 PM PST Gold climbed $10.72 to $1709.92 in Asia before it fell back to as low as $1677.13 by late morning in New York, but it then bounced back higher in afternoon trade and ended with a loss of just 0.29%. Silver fell to as low as $31.228 by about 7:30AM EST before it rebounded in New York, but it still ended with a loss of 3%.
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| CFTC Defines “Swaps”- Silver Shorts Have 60 Days to Comply With Spot-Month Limits Posted: 23 Nov 2011 02:47 PM PST from Silver Doctors: Not sure how we missed this, but the CFTC officially defined "swaps" last Friday on November 18th, giving 60 days for traders to comply with the CFTC's new spot-month position limits. Look for: From SD's report on the CFTC position limit ruling : Establishment of speculative limits on Referenced Contracts will occur in two phases: Read More @ SilverDoctors.Blogspot.com
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| The Roads To War And Economic Collapse Posted: 23 Nov 2011 02:19 PM PST by Dr. Paul Craig Roberts, GlobalResearch.ca:
The day before the Thanksgiving holiday brought three extraordinary news items. One was the report on the Republican presidential campaign debate. One was the Russian President's statement about his country's response to Washington's missile bases surrounding his country. And one was the failure of a German government bond auction. As the presstitute media will not inform us of what any of this means, let me try. With the exception of Ron Paul, the only candidate in either party qualified to be the president of the US, the rest of the Republican candidates are even worse than Obama, a president who had the country behind him but sold out the American people to special interests. No newly elected president in memory, neither John F. Kennedy nor Ronald Reagan, had the extraordinary response to his election as Barack Obama. A record-breaking number of people braved the cold to witness his swearing in ceremony. The mall was filled for miles distant from the Capitol with Americans who could not see the ceremony except as televised on giant screens.
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| Not enough money in the world for bailouts, Sprott tells King World News Posted: 23 Nov 2011 12:39 PM PST 8:39p ET Wednesday, November 24, 2011 Dear Friend of GATA and Gold: There isn't enough money in the world to bail out all the financial institutions and countries that need rescuing, Sprott Asset Management CEO Eric Sprott tells King World News tonight, and as a result the new financial crisis will be worse than the one three years ago. An excerpt from the interview has been posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/11/23_E... Meanwhile, full audio of the most recent King World News interview with Sprott Asset Management's chief investment strategist, John Embry, has been posted here: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/11/23_... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Be Part of a Chance to Discover Multi-Million-Ounce 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. Support GATA by purchasing a silver commemorative coin: 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 The United States Once Again Can Establish 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
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| China Will Collapse By The End Of 2011 Posted: 23 Nov 2011 12:34 PM PST from WealthCycles:
Casey Research Host: Your original estimate for the collapse of China was by 2011… do you think (that was) relatively close? Gordon Chang: I think it is very close when you see what is going on right now. Europe seems to be on everyone's mind the last few months. However, there is an elephant in the room that everyone is ignoring, and it's China. For a while it seemed everyone was proclaiming that the 21st century would be "China's Century." Much like the 20th was "America's Century," and the 19th was "Britain's Century." Everyone just seems to accept the fact of China's ascendancy. But is it true? Gordon Chang, who writes for Forbes.com, thinks otherwise. His prediction is that China will collapse by the end of 2011!
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| Jim Rogers, “You Should Own Silver” Posted: 23 Nov 2011 12:27 PM PST By Dominique de Kevelioc de Bailleul, Beacon Equity Fence sitters of the silver market are forewarned: buy more silver. That advice, according to Jim Rogers of Rogers Holdings, is the heads-you-win-tails-you-win investment proposition in the years ahead. In a Nov. 23 CNBC interview, Rogers has little doubt of more central bank intervention planned in the wake of a global economic slowdown, but if he's off the mark, silver (and commodities, generally) investors will win anyway, as Asia's production-export model gears to supply what the world needs—including lots of existing and new products containing silver. "I'm long commodities and currencies, because if the world gets better, the shortages in commodities will make sure I make money," the 69-year-old Rogers told CNBC. "If the world economy doesn't get better, I'd rather own commodities because they're [central banks] going to print money." It's interesting to note that of all commodities investors of which investors can buy, Rogers singles out the 'commodities' silver and rice…
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| Why Is Gold Falling? Should I Buy, Hold or Sell? Posted: 23 Nov 2011 12:24 PM PST Gold falls when a*financial crisis worsens for 2 basic reasons which make total sense when looked at objectively. Resultant government intervention then*creates the environment for a future rise in*the price of gold.*This article explains the causes of the downs and ups in the price of gold and offers suggestions on how and when*to act. Words: 868 So*conveyed Plan B Economics ([url]www.planbeconomics.com[/url]) in*their original*article*. [INDENT]Lorimer Wilson, editor of [B]www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) has further edited ([ ]), abridged (…) and reformatted (some sub-titles and bold/italics emphases) the article below for the sake of clarity and brevity to ensure a fast and easy read. The author's views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any a...
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| Canadians Take Note: Own Physical Gold via Canadian Mint?s New Gold ETRs Posted: 23 Nov 2011 12:24 PM PST The Royal Canadian Mint has announced that it is making an initial public offering of exchange-traded receipts (ETRs) under the mint’s new Canadian Gold Reserves program. Unlike other gold investment products currently available which only enable the purchaser to own a unit or share in an entity that owns the gold, the ETRs will enable the purchaser to actually own the physical gold bullion which will be held in the custody of the mint at its facilities in Ottawa. Words: 650 So says The Royal Canadian Mint ([url]www.mint.ca[/url]) in a recent news release*. [INDENT]Lorimer Wilson, editor of [B]www.munKNEE.com (Your Key to Making Money!), has further edited ([ ]), abridged (…) and reformatted the release below for the sake of clarity and brevity to ensure a fast and easy read. The author's views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any art...
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| Gold and Silver Raid / Failed German Auction / Europe and USA Stocks Tumble Posted: 23 Nov 2011 11:39 AM PST by Harvey Organ: Good evening Ladies and Gentlemen: Gold closed today down $6.50 to $1695.70 surviving another round of banker raids as they try and stop the option holders from exercising contracts and standing for delivery of metal. The price of silver served as a punching ball to the bankers falling by $1.07 to $31.88. The total gold comex open interest fell by 3317 contracts (from 460,387 to 457,070) as gold rose yesterday quite smartly. We must have had some short covering as the global financial mess escalates. The front options expiry month of November saw its OI remain constant at 21 despite 9 deliveries yesterday. Thus the number of gold ounces standing increases and we also had no cash settlements. The big December contract is now facing first day notice next Wednesday. The OI tonight registers 151,207 but that will decline each day before Tuesday night. The estimated volume today was large at 221,321 compared to yesterday's confirmed volume of 222,689. Read More @ HarveyOrgan.Blogspot.com
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| Richard Russell: In The End My Survival Vehicle Will Be Gold Posted: 23 Nov 2011 11:10 AM PST from IBTimes.com:
The global economy is moving into a "survival period" in which gold will provide one of the few areas of protection for investors, according to Richard Russell. The publisher of Dow Theory Letters – the world's longest-running daily investment letter – and a long-time gold bull, Russell reiterated his bullish case for the yellow metal and gold-related investments this week. "I now think of compounding in terms of debt and the compounding of that debt load," Russell wrote. "Today we deal in trillions. Example — Bill Gates, the richest man in America, has about $6 billion in assets. One trillion equals 1,000 billion. The US national debt is $15 trillion and counting. But it's currently compounding at historically low interest rates."
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| Buyers Of German Bonds Finally Pulled Out Their Calculators Posted: 23 Nov 2011 10:43 AM PST Wolf Richter www.testosteronepit.com Since the beginning of the Eurozone debt debacle, Germany benefited spectacularly from its reputation as safe haven. While yields were spiking in other Eurozone countries, German bond yields were dropping; and even 10-year bond yields dipped below the rate of inflation. So perhaps when it offered €6 billion in 10-year bonds at an average yield of 1.98%, a record low for auctions, it expected them to fly off the shelf. But they didn't. "A disaster," analysts and the media proclaimed worldwide. "Debt crisis now at German doorstep," MarketWatch called it. Investors only bought €3.6 billion in bonds of the €6 billion offered. The Bundesbank had to retain the remaining €2.4 billion to be sold in the secondary markets. Not unusual under the German system: the Bundesbank had propped up six of the eight most recent bond auctions. But the magnitude is nevertheless a shocker. The 39% that the Bundesbank got stranded with is the highest ratio on record since Germany started issuing bonds in euros. "There is absolutely no problem," said a spokesman for finance minister Wolfgang Schäuble to calm the waters. Germany will have to issue €275 billion in bonds next year to fund ongoing deficits and pay off maturing debt. And calm waters would be nice. So maybe it was a disaster. Or maybe, it was simply a sign that investors stepped back from Eurozone mass hysteria, checked their data, and pulled out their calculators. And suddenly, that below-inflation yield of 1.98% looked very unappetizing. They might have remembered some other things. Model Economy Germany was suffering not long ago from stagnation that lasted many years. It was also one of the first EU members to violate the Maastricht Treaty's criteria that limit deficits to 3% of GDP and gross national debt to 60% of GDP. Currently, Germany's debt is over 80% of GDP, just a hair lower than France's and only about average for the Eurozone. "The level of German debt is troubling," said Luxembourg Prime Minister Jean-Claude Juncker a few days ago. His country's debt is only 20% of GDP. But Germany's current deficit of 1.3% of GDP is low and is expected to decline further, perhaps even become a surplus. In theory. In reality, politicians, drunk with surplus euphoria, are already ratcheting up spending plans. Just wait till the recent collapse in the all-important export orders worms itself into GDP numbers and tax receipts. Big deficits will be back. And there are other reasons why investors might have lost their previously ravenous, practically insatiable, and certainly irrational appetite for "safe-haven" bunds. Among them: - Germany might get sucked into the whirlpool of Eurozone sovereign bonds by guaranteeing more and more of them via European bailout funds and Eurobonds. All would transfer risk to Germany's own finances. - Or the opposite: Germany might not do enough, fast enough, to save the euro, and as a consequence, might get sucked down as well. - Germany might allow the ECB to print unlimited amounts of money and solve the debt crisis once and for all through inflation and devaluation. - Or worse for bondholders: Germany might break away from the eurozone and issue its own currency either within a mini-eurozone or alone. The ECB would then be free to solve the debt crisis of the Eurozone's remaining members by monetizing their sovereign debt. The euro might well lose 30-50% of its value over the next decade, as the dollar has done. And investors who'd bought euro-denominated 10-year bunds at a yield of 1.98% would get screwed royally. In this scenario, Italian 10-year bonds with a yield of over 7% would compensate investors adequately for the expected inflation. And risk of default would return to near zero if the ECB starts monetizing the debt of its members. So, very prosaically, investors may just be sick and tired of handing over their money in exchange for paper that will guarantee them a loss after inflation. Most likely, they haven't lost confidence in Germany, and they don't expect the Eurozone to collapse, but simply would like to earn a tiny bit of money after inflation on a 10-year investment. That, in normal times, shouldn't be cause for concern. Meanwhile the Bank of Greece warned parliament that it must honor its commitments under the bailout agreements with the Troika, or else Greece could be kicked out of the Eurozone. And yet, The European Bailout Fund Paid For Greek Money Laundering And Fraud ... and then a bomb exploded. Wolf Richter www.testosteronepit.com
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| Posted: 23 Nov 2011 09:51 AM PST Addison Wiggin – November 23, 2011
Short case study: "We're raising our alert status for the next financial crisis," we wrote in a blog post on Forbes.com. We cited concerns of derivatives exposure, expressed by fund manager Mark Mobius, followed by even more systemic issues detailed by our own Michael Pento. The post was picked up by Yahoo! News… the Yahoo! piece elicited more than 700 comments on the discussion board. Then… the Drudge Report linked to it… it "trended" high on Reddit… and got picked up by Russia Today and Newsmax as a breaking story… and then criticized by an industry rag called AdvisorOne. AdvisorOne accused us of "exaggeration" and… and scaring people to — gasp! — try to sell newsletters. Heh. Alas, the writer at AdvisorOne never did his homework. Our original piece at Forbes.com was posted June 1, 2011… just a few days after Mobius raised his concerns before an audience in Tokyo, which was, in turn, reported in a piece by Bloomberg. Oy. Why our post got rehashed by Yahoo! as "news" this week, we still don't know. But it goes to show… you can't always believe what you read. And if you're making decisions about what to do with your money based on what you read — even here in The 5 — you had better do your homework first.
In fact, today, we've assembled a fresh list of concerns to take its place. And quite a doozy, at that: In fact, it's rare to get a confluence of events such have combined for today's episode of The 5. Warning: the following is not for the faint of heart.
"What's most terrifying?" El-Erian asked rhetorically in a Bloomberg TV interview. "We are having this discussion about the risk of recession at a time when unemployment is already too high, at a time when a quarter of homeowners are underwater on their mortgages, at a time then the fiscal deficit is at 9% and at a time when interest rates are at zero. "The big concern is the U.S. getting tipped over by Europe. Things in Europe are getting worse, not better."
That's fueled talk of France having to dig deeper into its bailout fund… which, in turn, prompted Fitch to say it might have to revisit France's AAA rating.
The German government hoped to sell €6 billion of 10-year bunds. It could attract bids for only €3.644 billion. Conventional wisdom is writing this off: "The auction reflects the deep mistrust [of the] euro project, rather than a mistrust to German government bonds," an analyst from Danske Bank tries to reassure The Wall Street Journal. Conventional wisdom might wish to consult the respected German newsweekly Der Spiegel… "It is debatable how much longer Germany can be seen as a refuge of stability and security," reads an article that came out yesterday. "Germany's budget management is not nearly as exemplary as it would have people believe, and the national debt is way over the EU's limit. In some respects, Italy's finances are in much better shape."
We'll save you the drama: We expect a result similar to the two previous tests — a limited release of data carefully designed to paper over thin capitalization of every major bank.
Stockman's beef? With the failure of the "supercommittee," talk in Washington, D.C., is switching to an extension of this year's Social Security tax cut into next year ($110 billion), plus, a continuation of unemployment benefits beyond the standard 26 weeks ($200 billion). "I don't know what Washington thinks," says Mr. Stockman, "that we can just continue to go out into the market and borrow $100 billion every month, and nothing is ever going to go wrong, the Fed can just keep printing the money. That's what the Europeans thought. Look where they are today." Another downgrade of U.S. sovereign debt is a "certainty," he adds. "It's only a matter of when."
In the market's eyes, every number is moving in the wrong direction…
"The money supply will be expanded in the major currencies in the developed world," he tells The New York Times, "and investors will seek the protection of hard assets: something real, and gold is perceived as real."
Instead, they'll have to rely on the trustee who's now in charge of their accounts. That trustee, James Giddens, disclosed yesterday the amount of "missing" money might be as much as $1.2 billion — double the previous estimate. Mr. Giddens has an interesting background: His law firm has done extensive business with JPMorgan Chase — which is one of MF Global's major creditors. But the judge, evidently, does not feel that's enough of a conflict of interest to allow the "small fry" to advocate on their own behalf.
Bill Singer at Forbes looked into FINRA's records. It appears Corzine's registration lapsed about a decade ago, after he left Goldman Sachs. To return to the industry after his gig in politics, he had to take an exam. It appears he did not. A special favor for someone well connected? Hard to say. But as they say in Washington, the "optics" aren't good.
The Covered Bond Act of 2011 would allow the major banks to bundle mortgages into marketable securities that would be guaranteed at face value by the FDIC. But it's not just mortgages. No, under the language of the bill, auto loans, student loans, credit card debt… it's all fair game for the treatment, along with "any other eligible asset class" designated by the Treasury secretary. This abomination already passed a House committee earlier this year. The bill "is all about Wall Street and does nothing to increase the availability of housing credit," said Chris Whalen from Institutional Risk Analytics at the time. "The bill lacks basic protections for investors in bonds and for the FDIC, which would be fully exposed to losses from covered bonds." True enough… but think of the insider-trading possibilities this opens up for members of Congress! And as we learned a few days ago in a 60 Minutes expose, it's completely legal for them — even as you or I would get handcuffs and a cell at Club Fed.
Surprise! On Aug. 15, 2011, the Journal says, Fed chairman Ben Bernanke unveiled "Operation Twist" — the Fed's attempt to bring down long-term Treasury rates — to Nancy Lazar, an economist with International Strategy & Investment Group. You and I "officially" learned about it on Sept. 21, 2011 — nearly six weeks later. In the interim, Ms. Lazar's high-powered clients collected double-digit returns on 10-year Treasuries in a five-week span. Sounds like a decent gig if you can get it, doesn't it? "Ms. Lazar is among a group of well-connected investors and analysts," the Journal reports, "with access to top Federal Reserve officials who give them a chance at early clues to the central bank's next policy moves." Special meetings with Fed leaders… insider trading by members of Congress that you can't do… big banks conniving with Congress to load more of their bad debts onto you… politicians allowed to skirt the rules to get back into the securities industry… defunct brokerages whose clients are delivered to the tender mercies of a trustee loaded down with conflicts of interest… Golly, it's enough to make you think the system is rigged.
It's legal for the House Financial Services Committee. You, on the other hand, would get an extended live-in date with Bubba. Potentially, when you need them most, your elected officials are looking out for their own bacon, rather than truth, justice or any of the other goofy things you've been lead to believe they're up to. The rules have changed, and you'd be wise to have a plan in place when the next wave of this crisis gets underway. We make our suggestion here.
11 days ago, Carlos Rafael, a professional fisherman in New England, made a historic and spectacular catch: He landed an 881-pound bluefin tuna.  But when his crew returned to port… agents of the National Oceanic and Atmospheric Administration (NOAA) seized the fish. Apparently, Mr. Rafael caught the monster with a net — and quite by accident. An occurrence "that only happens once in a blue moon," according to The Standard-Times in New Bedford, Mass. Alas, the permit Carlos possesses only allows the luxury of using a rod and reel to catch big fish. "We didn't try to hide anything," Carlos told the paper. "We did everything by the book. Nobody ever told me we couldn't catch it with a net." Yet Mr. Rafael is now out a six-figure payday. A similar haul — 754-pound tuna — recently sold for $396,000. NOAA plans sell his catch overseas and collect the proceeds. Carlos will, likely, give up his existing permits. "What good are they if I can't catch fish with them?" he asks.
"Total hypocrites, it's all about the money. They must be really desperate!"
"And the Indiana court decision that said the right of self-defense from a police raid 'is not in acceptance of modern Fourth Amendment rights'? Do the members of that court know how to READ?" "The Fourth Amendment is supposed to be absolute, but the Constitution has been twisted so far that it has been broken by the Northeast Legal Elite of our nation, who never saw a freedom that isn't able to be denied. Unless it's a freedom related to 'modern' art."
"The SWAT team approached the wrong home, went through a window, shot and killed the alleged perp, whom they thought was defending with a gun, but was, actually, holding a Pepsi can. At the wrong address."
"If you had seen the earlier video, you would see the number of students arrested, the students resisting arrest, the crowd locking arms and surrounding the police officers and not allowing them to leave, and then the warnings about the use of pepper spray before it was administered." "The video that has gone viral is only part of the story, but when all the footage of the episode is taken into account, the officers were well within their legal rights." The 5: Congratulations, you've succumbed to the modern disease of equating what's "legal" with what's right.
"Tell all these freaks they are welcome to such abuse, if that is what they wish. However, to advocate that the rest of us must submit to rape, physical assault and other abuse is 'crossing the line' and tantamount to advocating slavery." "These freaks need to understand the difference between 'voluntary' and 'not.' How difficult is that concept, anyway?"
"The whole experience was worse than the Third World and reminiscent of the 1941 movie Sullivan's Travels. TSA was in Memphis going through people's stuff and wanding them. In Atlanta, a local cop was doing it. He even made forays into the waiting area doing same. Disgusting to see." "I managed to avoid searches, in Memphis, because they were doing such a thorough job on line No. 2 they did not get to line No. 1, and in Atlanta, just because the cop never got to my side of the waiting room. I put it down to the Ganesh button I was wearing." "Since I was carrying about $10,000 (to buy a car), I had cause for fear, ironically, more over 'my' government than my fellow passengers, who — while a world apart from me — were respectful and honest." "Passengers up from Florida had some TSA horror stories. One guy was accused of having coke and stripped and searched. No apology when none found, just loud insistence that he had some they simply could not find, and they were going to 'keep an eye on him.' A diabetic lady was reduced to tears when they found her stuff." "Bad, bad, bad." "Outside of U.S. airports, in all my travels worldwide, I have never seen such disgusting violations." "I have never taken a bus trip of that length before. I took it to avoid the TSA." The 5: O the irony… Whatever your travel plans this week, we hope you're thankful that you're with people you care about, far from the doom and gloom in the public world this holiday. Happy Thanksgiving, Addison Wiggin P.S. U.S. markets are closed tomorrow for Thanksgiving and will trade an abbreviated schedule Friday. The 5 will return on Monday. Enjoy your tryptophan-induced coma.  Now for the real warm and fuzzies you really tuned in for. The newly minted executive editor of Laissez Faire Books has penned an eloquent review of The Idea of America, a "splendid" collection of essays compiled by Bill Bonner and Pierre Lemieux. The new electronic edition brings together thinkers across time, from Jefferson to Emerson to Mencken to Rothbard, and is succinctly introduced below. With best wishes and food for thought this Thanksgiving, here is Jeffrey Tucker. The Idea of America There are occasions in American life — and they come too often these days — when you want to scream: "What the heck has happened to this country?!" Everyone encounters events that strike a particular nerve, some egregious violations of the norms for a free country that cut very deeply and personally. We wonder: Do we even remember what it means to be free? If not — and I think not — The Idea of America: What It Was and How It Was Lost (hardcover and Kindle), a collection of bracing reminders from our past, as edited by William Bonner and Pierre Lemieux, is the essential book of our time. I'll just mention two outrages that occur first to me. In the last six months, I came back to the country twice from international travel, once by plane and once by car. The car scene shocked me. The lines were ridiculously long, and border control agents, cl
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| Gold Stocks Due for a Breakout Soon Posted: 23 Nov 2011 09:34 AM PST Gold stocks may have been underperforming investor expectations for many months, but that could be changing very soon. In this exclusive interview with The Gold Report, Jordan Roy-Byrne, CMT, explains how he uses relative strength analysis to pick winners for the readers of The Daily Gold Newsletter. His technical work points to a turnaround in precious metals stock prices in the coming months, leading to a huge market top near the end of the decade.
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| Gold Daily and Silver Weekly Charts - Post Option Expiration Gut Check Doesn't Stick Posted: 23 Nov 2011 08:40 AM PST |
| Thanksgiving Tally: Lunatics And Hacks Win As Gold Up 19.3% YTD; S&P Down 7.5% Posted: 23 Nov 2011 08:19 AM PST To some, only "Lunatics and Hacks" believe in gold and a system based on real money. To others, one look at the chart below showing the relative performance of gold and the S&P YTD is enough to determine who the lunatic and hack truly is.
Source: Bloomberg As for the "some"...
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| Jordan Roy-Byrne: Gold Stocks Due for a Breakout Soon Posted: 23 Nov 2011 07:40 AM PST The Gold Report: Based on your technical analysis, you called the bear market in December 2007 and the bottom, followed by a rally in February 2009, weeks before the market turned. Your Daily Gold Premium market portfolio was up 10.5% in June of this year compared to an overall junior gold stock market that was down 9.5% during the same time. How have you fared in the last five months and what trends are you seeing in the next year? Jordan Roy-Byrne: At the end of last week, our premium service model portfolio was up about 9% on the year. Market Vectors Junior Gold Miners ETF (GDXJ:NYSEArca), the junior gold stock exchange-traded fund (ETF) I use to compare performance, was down about 18% and Market Vectors Gold Miners ETF (GDX:NYSEArca), the large-cap gold stock ETF, was down about 1%. The last few months have been difficult for a lot of equities. As far as the trends, I try to focus on relative strength. The large-cap gold stocks have been consolidating for most of the year. Silver...
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| Gold Price Bull Market Continues, Use This Correction To Buy More Gold Cheap Posted: 23 Nov 2011 06:59 AM PST Gold Price Close Today : 1695.90 Change : (6.50) or -0.4% Silver Price Close Today : 3188.4 Change : (106.7) cents or -3.2% Gold Silver Ratio Today : 53.190 Change : 1.525 or 3.0% Silver Gold Ratio Today : 0.01880 Change : -0.000555 or -2.9% Platinum Price Close Today : 1552.10 Change : -17.90 or -1.1% Palladium Price Close Today : 587.25 Change : -15.80 or -2.6% S&P 500 : 1,164.41 Change : -23.63 or -2.0% Dow In GOLD$ : $137.51 Change : $ (2.04) or -1.5% Dow in GOLD oz : 6.652 Change : -0.099 or -1.5% Dow in SILVER oz : 353.81 Change : 5.00 or 1.4% Dow Industrial : 11,280.90 Change : -212.82 or -1.9% US Dollar Index : 79.09 Change : 0.822 or 1.1% The GOLD PRICE reached up for that overhead $1,712 resistance but only got to $1,709.88. Low was $1,677.37, while the Comex closed $1,695.90. This tells us little we didn't already know. It underscores gold's present weakness, and highlights importance of that $1,675 support. There is more support -- how strong I'm not sure) at $1,646.58, the 150 day moving average. Below that lies $1,605 support (last low) and 200 DMA at $1,591. Five day chart clearly shows the SILVER PRICE peaked yesterday at 3303, eased off, then fell steeply in overnight trading. High today was 3262, low at 3127.5c, while Comex closed at 3188.4, down 106.7c. Support now stands at 3125c, but the issue will be settled at 3065c - 3000c. Both 2850 and 2600c are possible targets. The bull market in GOLD and SILVER and the bear market in paper currencies and stocks continues. Debt crisis emphasizes and examples all the problems with maintaining a paper currency, and continue to confirm our suspicion governments can only inflate. Use this correction to buy more silver and gold on the cheap. Germany suffered a "disastrous" bond sale today, puffing up fears that the go-wheel of the European Economy might itself be threatened by the debt crisis. The German debt agency couldn't sell almost half of a 6 billion euro bond sale -- no bids. That pushed Germany's cost of over-ten-year borrowing above the US for the first time since October. (paraphrased from a Reuters report.) It gets worse. Belgian government's deal with France to bail out the bank Dexia for $120 billion is unravelling. Fitch Ratings reported that France was bumping up on limits that threaten its AAA credit rating. The Germans won't budge toward taking on the debts of all Europe, and the banks won't write off the debt, and the junior Euro countries can't stop spending without facing revolutions. No statesman appears to cut this Gordian knot, so they keep on dithering at loggerheads, the most surely fatal response in a crisis. To all this fun the euro responded by gapping down 1.38% to 1.3325. It's nearing the last low at 131.64. When it breaks that, well, imagine one of those gigantic slides at a fun park that somebody has rubbed down with lard, and you'll get a hint of how fast the euro will drop. The yen dropped 0.53% to 129.22c/Y100 (Y77.39/$1). One must suspect that the yen had official help doing that. US dollar index punched through 78.50 resistance and rose 82.2 basis points (1.06%), surmounting the round number 79 to trade at 79.09. Last high (October) reached 79.84, and that's the last resistance standing in the dollar's road. A close above that sets it flying. Of course, Bumbling Ben may decide to intervene before that happens. Funny, although nobody admits it, currency markets are playing out just like they did under the competitive devaluations during the 1930s, and, I suspect, for much the same reasons. I am writing this at 13:16 Central time, before the market closes at 15:00 my time, but there's not much doubt which way stocks will close today, since they're already swirling the drain. Dow has fallen 212.82 (1.85%) to 11,280.90, right at my 11,250 target. S&P500 is down 23.63 (2%) at 1,164.41. Good chance Dow will bounce from here, but if it slices through 11,200, say Good-bye! to another thousand points. Y'all have a happy and blessed Thanksgiving, and remember that the FIRST American Thanksgiving was not celebrated in New England in 1621, but farther south at Berkeley Plantation in Virginia on 4 December 1619. 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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| Germany Sells 150,000 Troy Ounces Of Gold In October... But Not Why You Think Posted: 23 Nov 2011 06:52 AM PST
Earlier this morning the anti-gold brigade was foaming in the mouth on the news that the German central bank had for the first time in a year sold gold. As it turns out they were half right: the bank indeed sold gold: a 'whopping' 150,000 toz or about $250 million worth... But not in the open market, and not even to natural buyers of physical like Sprott and everyone else not infatuated with voodoo theories of infinite repoability of debt. They sold it to the German ministry of Finance... to mint commemorative coins. Coins which we are now confident will be promptly mopped up by the general public. Following the sale Germany will be left with a modest 109,194,000 troy ounces, enough to allow the country to gladly tell Europe to do some anatomically impossible things and to fall back to a hard asset baked currency if and when it should so desire.
This simply means that any fears of the demise of the Bundesbank's gold are greatly exaggerated:
As for the others...
So while everyone is obviously seeing the writing on the wall, various theoretical economists who would be broke 10 times over in the real world if they put their money where their mouth is continue to preach what nobody cares about:
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| Eric Sprott - This Financial Crisis Will Be a lot Worse Than 2008 Posted: 23 Nov 2011 06:37 AM PST  With stocks plunging and gold and silver still consolidating, today King World News interviewed billionaire Eric Sprott, Chairman of the $10 billion strong Sprott Asset Management. KWN wanted to Sprott's take on the ongoing financial crisis and where we are headed from here. When asked about the German bond auction, Sprott responded, "The results were that they (Germany) only sold about 65% of the issue on offer. Rates went up a little, but the fact that the Germans, who would have been regarded as the number one credit in Europe, couldn't sell, I think it was a $5 billion euro issue, and they couldn't sell it, I mean it's truly shocking."
This posting includes an audio/video/photo media file: Download Now |
| The Case for $1,390 Gold Soon ? and $1,000 Gold Later Posted: 23 Nov 2011 06:20 AM PST The chief economist at HSBC Bank, Robin Bew, suggests that the price of gold will correct down to $1,390/ozt by the end of 2012*and to $1,000 per troy ounce by 2013. [Let's examine Bew's views more closely.] Words: 731 So says Stuart Burns ([url]www.metalminer.com[/url]) in edited excerpts from his original article*. [INDENT] Lorimer Wilson, editor of [B]www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and *www.munKNEE.com (Your Key to Making Money!) has further edited ([ ]), abridged (…) and reformatted (some sub-titles and bold/italics emphases) the article below for the sake of clarity and brevity to ensure a fast and easy read. The author's views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.[/B] [/INDENT] Who in the world is currently reading this article al...
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| Differing Views of Wealth: How Insiders and Outsiders Approach the World of Money Posted: 23 Nov 2011 06:14 AM PST Bill Bonner View the original article. November 23, 2011 09:09 AM What's the latest news? The great battle continues… Dow down 53. Gold up $23. Up vs. Down Zombies vs. Producers Inflation vs. Deflation The feds vs. the market Expansion vs. contraction Centralization vs. decentralization Bull vs. Bear And no one knows exactly how it will work out. Some are betting on a 'recovery' and a new bull market. Others have put their money in gold or cash…expecting more crises and more calamities. Mr. Market is determined to deflate the debt bubble. The feds are determined to stop him. One destroys paper credits. The other prints more of them. The outcome is still in doubt. Another way to look at this great battle — it's a fight between the outsiders and the insiders. The outsiders are unruly…uncontrollable…and unpredictable. They're the creative destroyers that Schumpeter was talking about, always finding new ways of doing things…and destroying ...
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| Gold Under 13 Week Average-Working Towards 52 Week Posted: 23 Nov 2011 06:14 AM PST courtesy of DailyFX.com November 23, 2011 08:39 AM Weekly Bars Prepared by Jamie Saettele, CMT The 3 wave rally from the September low is viewed as a correction of the decline from the record high and should be completely retraced. Gold briefly traded under channel support and the former 1681 pivot low from late October before rebounding slightly. A look at the long term picture reveals that gold remains above long term trendlines but some of those lines are well below the current level. Even a test of the trendline that has defined price since the summer 2010 lows would result in a test of the mid 1500s (52 week average in the vicinity). A drop similar in amplitude to the one that occurred in September would reach the low 1400s. Latest Video Other TA Articles...
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| Crude Oil, Gold Likely to Fall as Euro Debt Crisis Touches Germany Posted: 23 Nov 2011 06:14 AM PST courtesy of DailyFX.com November 23, 2011 05:01 AM Crude oil and gold look likely to fall as the EU debt crisis touches heretofore insulated Germany, weighing on sentiment and boosting the US Dollar. Talking Points [LIST] [*] Crude Oil Anchored to Risk Trends as EU Crisis Touches Germany [*] Gold’s Path of Least Resistance Favors Losses as US Dollar Gains [/LIST] WTI Crude Oil (NY Close): $98.01 // +1.09 // +1.12% Crude oil is under pressure amid risk aversion in the aftermath of a dismal German bond auction where the Eurozone’s top economy – heretofore the sole bright spot of the region – failed to get bids for a whopping 35 percent of 10-year securities offered to investors. Lack of demand for what has been the go-to pocket of safety within the currency bloc suggests the debt crisis is reaching a new level of intensity, weighing on sentiment. Curiously, European shares stand little changed having erased most of the post-auction dro...
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| The euro crisis: The screw tightens Posted: 23 Nov 2011 05:33 AM PST 23-Nov (The Economist) ONE can almost hear the gates clanging: one after the other the sources of funding for Europe's banks are being shut. It is a result of the highly visible run on Europe's government bond markets, which today reached the heart of the euro zone: an auction of new German bonds failed to generate enough demand for the full amount, causing a drop in bond prices (and prompting the Bundesbank to buy 39% of the bonds offered, according to Reuters). Now another run—more hidden, but potentially more dangerous—is taking place: on the continents' banks. People are not yet queuing up in front of bank branches (except in Latvia's capital Riga where savers today were trying to withdraw money from Krajbanka, a mid-sized bank, pictured). But billions of euros are flooding out of Europe's banking system through bond and money markets. [source] PG View: Evidence of a developing bank run is generally a harbinger of even worse things to come. Truth be told though, there's still plenty of risk whether your euros are in the bank or under your mattress. The same can be said even if you convert your euros to dollars. Gold is likely to garner increasing interest as the asset of choice for wealth preservation amid the worsening turmoil in the eurozone.
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| Have A Great Thanksgiving Holiday Posted: 23 Nov 2011 05:24 AM PST I wanted to post an excerpted commentary from Richard Russell, which I sourced from Ed Steer's Gold and Silver Daily. Richard Russell has been "doing" the markets for longer than most of us have even been alive. An expert in the Dow Theory theory and stocks in general, in the last few years he's been shifting his investible assets into physical gold. He understands as well as any of us the degree to which fiat currencies globally are being destroyed by greedy bankers, disasterous Government fiscal policies and - foremost - accelerating corruption and fraud. Here's Russell's comments: My advice: We are moving closer and closer to what I call "survival period" -- the period where the magic of compounding turns into what will be the poison of compounding. This isn't a time for timing. This is a time for action. Reduce your exposure to bonds and all items that provide fixed interest rates. Similarly, reduce your exposure to stocks except the gold miners. Look to expand your positions in inflation-protected assets, especially gold.There you have it. Happy Thanksgiving and remember: enjoy what you can, as much as you can, while can. 
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Here's a small bit of advice for you while you're looking for ways to escape your family over the holiday weekend: Be careful what you read on the Internet.
Wait… unless you start to think otherwise… our "alert status" has gotten anything but old and crusty, like the original Forbes.com post.
U.S. economic conditions are "terrifying," Mohamed El-Erian said yesterday. El-Erian, as you may know, is Bill Gross' right-hand man at Pimco, the world's largest bond fund. He gives the U.S. a 50/50 chance at a renewed recession.
Indeed, they are. A plan to bail out the French-Belgian banking mongrel known as Dexia is falling apart, according to a Belgian newspaper.
That's the headline news from Europe. Beneath the surface is this scary little ditty: A German bond auction failed today.
The Federal Reserve plans to carry out a new round of "stress tests" on 31 major U.S. banks — the third time since Lehman and everything else hit the fan three years ago. This round will, purportedly, assess domestic banks' ability to withstand a sudden escalation of the eurozone crisis.
"When are we going to wake up?" asks David Stockman, who served last century as budget director under Ronald Reagan.
Perhaps it's a realization of all these things — Europe isn't fixed, the U.S. banks aren't fixed, Washington is broken beyond repair — that's put the safety trade back in play today:
Not helping matters: With a holiday-shortened week, the government statisticians have been racking up the OT to get all the usual figures out before stuffing their faces on your dime.
Accompanying all this fear and loathing, one of Wall Street's most-respected "establishment" figures is finally coming around to gold. Byron Wien, vice chairman at Blackstone Advisory Partners, officially recommended gold as part of his model portfolio for the first time this year.
It's also, as the saying goes, the only asset that carries no counterparty risk. Which sounds pretty good, given the latest news about MF Global. A judge in New York is refusing to allow its customers to form a committee to represent their own interests.
Meanwhile, it appears MF Global's CEO, Jon Corzine, was not registered with FINRA, the securities industry's self-regulating body. Under FINRA requirements, "Anyone actively involved in the member's investment banking or securities business must be registered."
The Senate is about to take up a bill that's advertised as allowing more credit in the housing market… but in fact, would allow the major banks to load more bad debt onto the backs of taxpayers.
Meanwhile, as if the preceding weren't enough to fill your plate for Thanksgiving, today's Wall Street Journal reveals "people with clout" get regular access to Federal Reserve governors, who, in turn, tip them off weeks in advance of major policy moves.
In the thick of the 2008 crisis, the chairman of the House Financial Services Committee was privy to a meeting with Ben Bernanke and Hank Paulson, the Treasury secretary at that time. Using what he had learned in the meeting — that the global financial system was on the brink — he bought put options, betting the market would go down.
As if you need another sign of a corrupt government exercising capricious rule, the following was story provided by several of your fellow readers.
"Now the feds are stealing fish from private fishermen," writes one of several outraged readers who brought the story to our attention, "and yet they allow the use of long lines and many other commercial fishing methods that destroy the oceans."
"I can only see evil permeating from this type of activity," writes another reader after our 'police state' issue yesterday. "It is nonsensical that police would play dress up as SWAT teams to execute a search warrant."
"I know a story of a SWAT team. I am not going to say where; I knew a member of the team who was subsequently reassigned."
"I would not be so quick to jump to conclusions about the UC Davis students who were pepper-sprayed," a reader writes.
"You can tell the moron who likes to be fondled at the airport by TSA," a reader writes, "that he is perfectly welcome to fondle himself, or get anyone else to fondle him who is willing. Probably, there are also people stupid enough, or self-loathing enough, to want to be raped, physically abused or who knows what else."
"To the idiot that wrote in about how helpful the TSA was," chimes another, "wise up. Every single encroachment on liberty has always been delivered in incremental steps with the most-plausible explanations that can be found every step of the way."
"Your reader who enjoys the TSA is a moron who understands neither liberty nor private property, but that's another story," writes a reader who, instead, regales us with the tale of his own travels aboard Greyhound from Arizona to North Carolina.
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