saveyourassetsfirst3 |
- Silver Eagle Bullion Sales Hit New Record In 2011
- A Golden Diversifier
- Why We See A Weaker U.S. Dollar Going Forward
- Solar Skepticism And What To Make Of Exelon
- Gold and Silver Confiscation
- The Dollar is Done - Deal with It
- For the individual, gold is the only place to hide
- The More Gold the West Sells, The More China is Buying
- WATCH: Jim Rickards On CNBC 11.8.11
- US Mint Gold Coin Data and Research Casts Doubt on ‘Gold Bubble’
- When will Gold Stocks Reach the Bubble Phase?
- Seven pro sports teams on the brink of collapse
- 12 Facts About Money And Congress
- This popular safe haven is no longer "safe" for Americans
- Chinese Gold Demand at Record Highs
- An urgent message from The Project to Restore America
- Silver Update: “EFT – Epic Trading Failure”
- Merkel: You Touch-a Our Gold, We Break-a Your Face
- The Euro elite are totally out of touch with the modern world
- Silver analyst Ted Butler audio interview with Dr. Dave Janda
- Gold is the only reliable currency now, Leeb tells King World News
- The more Western central banks pound gold down, the more China buys
- Gold & Silver Market Morning, November 8, 2011
- On Sideways Momentum
- Doubling Down
- German Gold “Untouchable”
- The Most Bullish Sign For Gold: Falling Inflation
- Should I Buy Physical Gold or Gold Shares
- Gold price moving closer to significant level
- And You Thought the Real Estate Bust Was Over
| Silver Eagle Bullion Sales Hit New Record In 2011 Posted: 08 Nov 2011 07:19 AM PST By Jason Hamlin: The correction in silver prices has not shaken investor confidence. In fact, bullion investors have stepped up their purchases this year. With just under two months still remaining in 2011, sales of the American Silver Eagle have already surpassed the record level of 2010 with sales of 36,375,500 ounces. If sales of the Silver Eagle for November and December match the levels of 2010, total sales for 2011 should total over 42 million ounces or more than 20% above the record breaking sales level of 2010. Investors also appear to be wising up to the manipulation in the silver market as weak hands strengthen. This is evidenced by the fact that some of the strongest sales months during 2011 were during the sharp sell offs. Rather than panic, sell silver positions or move into cash, investors stepped up their purchases of silver eagles coins to take advantage of the depressed Complete Story » |
| Posted: 08 Nov 2011 07:01 AM PST This article originally appeared in the November issue of Financial Advisor magazine You had to be hiding under a rock to miss gold's rocket-propelled trajectory this year. It has been one of the best-performing assets of 2011. Through mid-August, bullion has shot up more than 24%, while the Barclays Capital Aggregate Bond Index ticked up only 6% and the S&P 500 dipped 5%. But not all is beer and skittles when it comes to the yellow metal. There's a long-standing argument between mining stock aficionados and bullion fans about whether it's the metal itself or the mining shares that are the ideal portfolio diversifiers. Mining stocks are supposed to deliver leveraged exposure to the metal, making for outsize gains when bullion prices are buoyant. It's true that mining stocks can magnify gold's moves. That's because of the enormous influence the metal's market price has on a company's earnings. Once bullion Complete Story » |
| Why We See A Weaker U.S. Dollar Going Forward Posted: 08 Nov 2011 06:49 AM PST By Douglas Borthwick: We wrote this original paper on August 8,2010. Some time has passed since then, and the USD/Index has dropped from 80.00 to 76.70. Meanwhile the EUR/USD has risen from 1.3250 to 1.3834. While the market has argued that this is against all odds, we argue it is to be expected and will continue going forward. Paragraphs in italics were written back in August 2010. Updates to this analysis are in regular font. We continue to expect the USD to weaken going forward, and remain short the USD/Index in our Long-Term Portfolio. We have received a good amount of attention since we first discussed our reasoning for why the dollar would see a bout of weakness that would translate into a trend of pain. A number of things have changed since our first report in mid-June. With this report we hope to discuss in greater detail the analysis that has brought Complete Story » |
| Solar Skepticism And What To Make Of Exelon Posted: 08 Nov 2011 06:47 AM PST By Takeover Analyst: Utilities are some of the safest stocks, despite heavy leverage. In a previous article, I explained why the bears at Duke Energy (DUK) are wrong and how CenterPoint (CNP) is trading at intrinsic value (analysis here and here). At the same time, I am not particularly bullish about any of these companies - even with multi-billion dollar mergers pending. Exelon Corporation (EXC) is yet another company in this sector that I would recommend as a long investment only to dividend investors and those fearful about a double dip. Like Duke Energy, Exelon is seeking approval for a merger with a competitor. According to industry experts, the Exelon-Constellation (CEG) deal is likely to close sometime in early 2012. While I believe that the transaction will unlock cost synergies, I remain skeptical about the respective CEOs' commitment to renewable energy - not because I think they are being disingenuous, but rather because Complete Story » |
| Posted: 08 Nov 2011 03:21 AM PST |
| The Dollar is Done - Deal with It Posted: 08 Nov 2011 03:15 AM PST The Dollar is Done - Deal with It By: Jason Hommel, Silver Stock Report -- Posted 7 November, 2011 | | Discuss This Article - Comments: (5 Stages of Grief over the Loss of the Dollar!) Silver Stock Report Psychologists tell us that there are five stages of grief over loss of whatever kind, usually death, or breaking up with a loved one, which are: denial, anger, bargaining, depression, acceptance. I've applied these to the loss of the dollar, as I see most people today are still stuck in denial, and here's how to deal with that. Denial. Most people in America are in total denial. But the dollar is done. Most probably don't think it's done, because we all still use dollars to buy things. But do you notice prices going up? That's the key sign that the dollar is done. The dollar is abandoning you, the dollar does not care about you, and you have to deal with it. People in denial will repeat the many lies taught to us all by the media and schools. The most popular of these delusions are, in order, "gold is too high now," "how would I sell it," "gold bugs are crazy," "I'm not sophisticated enough to invest in gold," and the classic denial line, "I don't want to hear anymore about gold." I've actually researched over 100 gold bashing nay sayers, and gathered together all the most popular statements of denial, which you can see, here: http://silverstockreport.com/2009/bashers-say.html Back in Dec. 2009, the most popular statement of denial was "gold is too high now", and that was when gold was $1200/oz. Today, almost two years later, gold is $1785, and climbing. Clearly, everyone who thought gold had topped out were simply in denial. To get past denial you must accept the truth of sayings such as, "democracy is two wolves and a sheep voting on who to eat for dinner", and realize that our founding fathers never gave us a democracy, but rather, a republic, because they hated democracy, which is nothing more than mob rule. Democracies are inherently unstable, because when the people understand that they can vote for themselves benefits out of the public treasury, then it's over. Why is it over at that point? Because with socialism, eventually you run out of other people's money to redistribute. And then, to pay for things, the only way to do that is to print money, which will destroy the dollar. America hit all those points back in 1933. That was a long time ago, and that's when we abandoned the gold standard. You should also realize that Obama is not as scary as the electorate who voted for him in the first place. Obama may come and go, but the stupidity of our fellow Americans is probably still with us, don't deny it. Acknowledge reality, accept it, and deal with it. Best way to cope? Start buying silver, or work past the next stages of grief. First step, visit your local bullion dealership, or place an order with www.jhmint.com or call (530) 273 8175. Anger. Very few of my readers have hit the anger stage. Not even many prospective silver or gold buyers have hit this stage. Some anger is out there, as it's manifesting itself in the Tea Party movement, and now in the Occupy Wall Street movement, but those are still very small movements. They will get bigger. To get past the anger stage, move towards feelings of pity. Pity those who are not smart enough to buy silver, because they are the ones who will be wiped out. Pity even the bankers with their billions and billions of dollars, because the silver market is still too small for them to buy into it, and as deceivers, they are self-deceived, too. Pity them. But you won't be wiped out, because you have silver, right? Right?? Well, not many in the Tea Party or Occupy Wall street movements have silver, but that's because they are still stuck in the anger stage. Get past it. Buy silver. Bargaining. This is not about using silver to bargain for things. It's about thinking you can fix things. At this stage, you may think that you can get involved in politics to try to fix the dollar. Nope. It's way beyond that. Donations to Ron Paul's campaign will not save the dollar. In fact, Ron Paul might help to destroy the dollar even faster, even if he is capable of reducing government spending. But even if Ron Paul were to become president, there is still congress, who would keep spending, and who is a reflection of the will, the selfishness, and the delusions of the American people. Or, perhaps you may think that you can find numerous investments that will outpace the decline of the dollar, so that you can buy more gold and silver. Well, I certainly thought this way for a while. Occasionally, I still do. But overall, the dollar has to decline against something, and that something is really just gold and silver. To get past the bargaining stage, invest over half of your assets or net worth into silver and gold. Depression. This is not about economic depression, it's about your feeling depressed and sad over the death of the dollar. Many people erroneously believe that if the dollar dies, there will be economic calamity (because that's the lie that supports the dollar), but recent history shows that's not true. After gold went up in 1980, it was economic boom times, as so much fraud was wrung out of the system. Also, when the dollar really dies, many people who were on the dole will become despondent. Many people who receive government entitlements do not feel they are on the dole, they really feel entitled to the money; they are still in denial, and still voting to make sure they get the handouts like social security, etc. Hey seniors, social security is bankrupt, congress raided the funds years ago, and there is zero money backing it up these days; they are printing new money to pay you, and this won't last forever. When that flow of funds is cut off, people are going to be depressed, and until they get jobs, so will the economy. To help deal with that stage, buy silver. If you are on any sort of fixed income, or government assistance, you need to buy silver more than anyone else, because silver will keep you fed when the flow of funds is cut off. Acceptance. Eventually, you will realize that we will all be better off without the dollar. Debts will be wiped out. Banks and usury slavery will collapse. Government size, largesse, corruption and theft will dramatically decrease. Businesses will flourish. It's not like after war, when entire cities, buildings, and people will be destroyed; but rather, ownership of assets will simply change hands, and life will go on. A lot of people "on disability" have tried to get a job working for me. Most people can work, they just don't want to, especially if they don't have to. Older people actually live longer if they keep working. Retirement is a cruel joke. I could have retired 7 years ago, but why? It's more important to keep helping people. Ministry, service, & working keeps you young, keeps you going, gives life meaning and purpose. The dying dollar can't be saved. But individual people, who have stacks of dollars, still can be saved; just get them into silver! So, I hope you can see why I've opened up a bullion dealership. Next best thing to doing that, is to share this article with one of the deniers! 8-) God bless! ===== I strongly advise you to take possession of real gold and silver, at anywhere near today's prices, while you still can. The fundamentals indicate rising prices for decades to come, and a major price spike can happen at any time. Follow me on facebook! http://www.facebook.com/jason.hommel http://news.silverseek.com/GoldIsMoney/1320691016.php |
| For the individual, gold is the only place to hide Posted: 08 Nov 2011 03:06 AM PST For those who don't know him, Ian McAvity is IMHO one of the smartest market analysts out there. He's been around for at least 30 years, and he really knows his sh*t. And he is one of the co-founders of CEF. "For the individual, gold is the only place to hide" Given the current machinations in the global financial system, Deliberations on World Markets Author Ian McAvity believes that another global financial slowdown is inevitable Interview transcript and mp3 here: http://www.mineweb.com/mineweb/view/mineweb/en/page96990?oid=139086&sn=2010+Detail&id=92730http://www.mineweb.com/mineweb/view/mineweb/en/page96990?oid=139086&sn=2010+Detail&id=92730 And here's another interview from a few days ago. |
| The More Gold the West Sells, The More China is Buying Posted: 08 Nov 2011 02:09 AM PST by Lawrence Williams, MineWeb.com: Gold imports into China via Hong Kong are continuing to boom with the total for the quarter to September exceeding the total amount for the whole of 2010. Ever since China loosened its restrictions on precious metals purchases, and indeed started selling the idea of gold and silver investment to the general populace via its state-owned banks (see: China pushes silver and gold investment to the masses), the Asian superpower has rapidly begun to challenge India as the world's largest consumer of gold. Given that it is largely believed that the Chinese state is taking in all its own mined gold (it is currently the world's largest gold producer) into its reserves without declaring the increase, the combined offtake within China of market purchases by the general population plus the amount being taken into its state coffers will soon be getting perhaps close to one third of total world gold output and rising ever faster. |
| WATCH: Jim Rickards On CNBC 11.8.11 Posted: 08 Nov 2011 02:03 AM PST |
| US Mint Gold Coin Data and Research Casts Doubt on ‘Gold Bubble’ Posted: 08 Nov 2011 01:49 AM PST |
| When will Gold Stocks Reach the Bubble Phase? Posted: 08 Nov 2011 01:44 AM PST |
| Seven pro sports teams on the brink of collapse Posted: 08 Nov 2011 12:37 AM PST From 24/7 Wall Street: The owners of the Los Angeles Dodgers have recently agreed to sell the team, following a bankruptcy filing in June of this year. The team may sell for more than $1 billion – the highest in baseball history and a premium on the $800 million value Forbes has assigned it in its annual ranking. 24/7 Wall St. set out to identify the teams that were likely to follow the Dodgers down a similar path. Teams lose money because they lose fans. Teams lose fans because they lose games. 24/7 Wall St. has identified teams that are on the brink of collapse by measuring long-term financial performance, as well as win/loss records and attendance. The greatest single cause of a team's long-term success is... Read full article... More Cruxallaneous: The "End of America" is beginning in California Porter Stansberry: Get ready... The worst is yet to come Government OUTRAGE: You may want to sit down before reading this |
| 12 Facts About Money And Congress Posted: 08 Nov 2011 12:35 AM PST 12 Facts About Money And Congress That Are So Outrageous That It Is Hard To Believe That They Are Actually True from The Economic Collapse Blog:
|
| This popular safe haven is no longer "safe" for Americans Posted: 08 Nov 2011 12:34 AM PST From Bloomberg: Credit Suisse Group AG (CSGN), Switzerland's second-biggest bank, was ordered by the Swiss government to hand over client account information following a request from the U.S. Internal Revenue Service. The IRS "recently submitted a request for administrative assistance to the Swiss Federal Tax Administration" regarding the 1996 double-tax treaty between Switzerland and the U.S., Credit Suisse said today in an e-mailed statement. That request seeks information with regard to accounts of "domiciliary companies belonging to certain U.S. persons as beneficial owners," according to the Zurich-based bank. Credit Suisse said in July that it's a target of a criminal investigation by the Department of Justice over former cross-border private-banking services to U.S. customers. Amid criminal probes of at least 11 financial institutions, U.S. and Swiss officials are concluding talks on a civil settlement that will probably require Swiss banks to pay billions of dollars and hand over the names of thousands of Americans who have secret accounts, two people familiar with the matter said on Oct. 24. "The U.S. tax matter and data handover is advancing faster than expected, which we believe is positive for Credit Suisse," Teresa Nielsen, a Zurich-based analyst at Vontobel Holding AG, wrote in a note to clients today. Credit Suisse booked 295 million francs ($329 million) of litigation provisions for tax matters in the U.S. in the third quarter. IRS Request The government is dealing with an IRS request for administrative assistance relating to tax fraud, according to Mario Tuor, a spokesman for Switzerland's State Secretariat for International Financial Matters. He declined to comment on the number of fraud cases and when they occurred. The Swiss Federal Tax Administration, which will collect the data from Credit Suisse, wasn't immediately available for comment. Credit Suisse rose 2.1 percent to 23.68 francs at 11:47 a.m. in Zurich trading. That pared the stock's decline this year to 37 percent. Eight bankers, including Credit Suisse's former head of North America offshore banking, were charged with conspiring to help U.S. clients evade taxes through secret bank accounts. In the fall of 2008, when the bank began closing its cross-border business with U.S. clients, it had "thousands" of accounts with $3 billion in assets not declared to the IRS, according to the indictment of bankers in February. Offshore Haven Switzerland, the world's biggest center for offshore wealth, agreed in 2009 to meet international standards to avoid being blacklisted as a tax haven by the Organization for Economic Cooperation and Development. The London-based Tax Justice Network ranks Switzerland at the top of its 2011 financial secrecy index. In February 2009, UBS AG (UBSN), the biggest Swiss bank, avoided criminal prosecution by paying $780 million, admitting it fostered tax evasion and giving the IRS data on more than 250 accounts to avoid criminal prosecution. It later turned over data on another 4,450 accounts and in October 2010, the U.S. dropped its criminal case against UBS. The Department of Justice is pursuing new indictments against Swiss banks after American customers provided information on them through a U.S. voluntary-disclosure program. To contact the reporter on this story: Giles Broom in Geneva at gbroom@bloomberg.net; Matthias Wabl at mwabl@bloomberg.net. To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net. More on safe havens: Five safe-haven countries to escape the "End of America" "Desperate" investors are rushing to a new safe haven currency If you're looking for a safe haven from the dollar, don't count on Canada |
| Chinese Gold Demand at Record Highs Posted: 08 Nov 2011 12:34 AM PST from GoldMoney.com:
As Trader Dan notes at his blog, irrespective of what hedge fund algorithms are doing on any given trading day, more and more people are looking to acquire physical bullion as a safe haven asset. This is in contrast to speculators, who are only interested in the leveraged gains to be had from playing in the futures market, and are not looking to acquire the actual metal. Read More @ GoldMoney.com |
| An urgent message from The Project to Restore America Posted: 08 Nov 2011 12:29 AM PST From The Daily Crux: Our colleagues at The Project to Restore America (PTRA) would like to formally invite all Crux readers to attend their first annual conference, taking place this November 19 in Baltimore, Maryland. For those who aren't familiar, PTRA is a nonpartisan movement started by Stansberry & Associates founder Porter Stansberry. The project's mission is to help pass three simple amendments to our Constitution: Balanced budgets at every level of government, a sound currency backed by gold, and the right of every American to keep 80% of their income. The conference will feature a fantastic lineup of speakers, including keynote speaker and 2012 Presidential candidate Gov. Gary Johnson, best-selling author and Boston University economics professor Laurence Kotlikoff, Wayne Root, and many more. Of course, you'll also hear from featured speaker Porter Stansberry. To get the full details, including the complete list of speakers, click here. Please note: If you're interested in attending, be sure to sign up by this Wednesday, November 9 at midnight Eastern time to receive the "early bird" rate, which is half-off the regular conference fee. More Cruxallaneous: Three ways the government will try to confiscate your gold Porter Stansberry: An update to my "End of America" warnings Must-read: This "devastating critique" could put an end to the global warming debate |
| Silver Update: “EFT – Epic Trading Failure” Posted: 07 Nov 2011 10:22 PM PST Brother John discusses rampant financial fraud, ETFs AGQ and ZSL in the 11.7.11 Silver Update.
|
| Merkel: You Touch-a Our Gold, We Break-a Your Face Posted: 07 Nov 2011 09:22 PM PST ¤ Yesterday in Gold and SilverWell, all the negative news that was posted about what might happen in gold and silver on Monday, turned out to be wrong. Gold rallied from the open in New York on Sunday night...and then plateaued shortly before lunch Hong Kong time. Then, about an hour before London opened, the price began to decline slowly, hitting its London low around the a.m. gold fix at 10:30 local time. Then it was up, up and away...as gold climbed steadily right up until precisely 4:00 p.m. Eastern time when a seller showed up to ensure that the price didn't break the $1,800 mark. The high was $1,799.60 spot. Gold then traded sideways for the rest of the electronic market in New York. The gold price closed at $1,795.60 spot...up a very decent $41.60 on the day. Gross volume was very heavy...but once the roll-overs out of the December delivery month were removed, net volume fell all the way down to 106,000 contracts, which is pretty light.
Silver's price action was a bit more exciting...and was pretty much all over the map in the early going, with the low of the day coming at precisely 9:00 a.m. in London. From there, a rally of sorts developed...but, like gold, it really didn't get going until the London a.m. gold fix was in around 10:30 a.m. local time. Then away the price went to the upside...and it seemed like there were a couple of times when the silver price showed real signs of getting frisky, but both these rallies got sold off before they could develop into anything. The silver price hit the $35 mark around 3:15 p.m. Eastern time...the high tick was $35.11 spot...but all three attempts to break through that price barrier on a permanent basis, ran into a willing not-for-profit seller in the New York Access Market. The silver price closed at $34.98 spot...up 85 cents on the day...and probably would have closed higher if someone hadn't been riding shotgun over the price all day long. Net volume was a very light 20,000 contracts.
The gold stocks gapped up...and stayed up...rising slowly and steadily, just like the gold price. The HUI closed virtually on its high of the day...up 3.17%...helped along a bit by a sharp rally in the general equity markets going into the close of trading.
The silver stocks also did well for themselves...and Nick Laird's Silver Sentiment Index closed up 3.57%
(Click on image to enlarge) The CME's Daily Delivery Report showed a bit of activity, as 12 gold and 90 silver contracts were posted for delivery tomorrow. The link to that action is here. The GLD ETF took in a chunky 340,502 troy ounces of gold yesterday...but the SLV ETF went the other direction, as 389,218 ounces were withdrawn. There was no sales report from the U.S. Mint...and nothing worth mentioning happened over at the Comex-approved warehouses on Friday. In his weekly commentary to his subscribers on Saturday, silver analyst Ted Butler had this to say about the two CME announcements that came out before...and on...the weekend regarding increased margins... "There have been recent reports that the CME Group has effectively increased margins across the board by raising the maintenance margin rate to equal full initial margin rates. Previously, some leeway was given in that maintenance margins were lower than full initial margin rates. Many have concluded that this will automatically translate into a selling bloodbath on Monday, especially in silver. I would never doubt the manipulators' ability to cause sudden sell-offs in the price of silver, as that would contradict everything I had ever written. But an across-the-board effective increase in margin requirements would apply to all parties, both the longs and the shorts, and would not appear to mechanically result in a sell-off or rally. There already has been massive liquidation in silver, as evidenced by the COT structure. Can there be more? Sure. After all, this goes to the heart of my allegations of manipulation in silver. Is significant additional liquidation guaranteed as a result of the CME margin increase? No." "I would make this point. If the increase in margin does result in a bloodbath of selling, then that selling can be directly traced to the actions of the CME Group. That would substantially confirm my take that the CME is basically a criminal enterprise and should have no role in any regulatory function, like setting margins or position limits. Finally, there was just issued a further communiqué from the CME apparently reversing the margin change. All this proves is that the CME is not qualified in regulatory matters. They are very much qualified in concocting manipulative trading schemes designed to increase their bottom line, but not in matters of customer protection and market integrity; as is any criminal enterprise." Here's an excellent graph that was sent to me by Australian reader Wesley Legrand on Saturday evening...and it shows the great coming together...and then the great unraveling...of interest rates as each country in turn foundered on the credit rocks. And, just by looking at the chart, you can tell that there's no way on God's green earth of every putting this back the way it was. This chart is worth a few moments of your time.
I have more stories that I care to admit...and, as always, the final edit is up to you. Nothing earth-shaking happened over the weekend. All of Europe is still going to hell in a hand basket...and I don't see anything that will change that. China's September Gold Imports Jump Six Fold. Gold is the only reliable currency now: Stephen Leeb. Gold shares may (finally) begin to lead: Peter Brimelow. Interview with Ted Butler ¤ Critical ReadsSubscribeJack Abramoff: The lobbyist's playbookI happened to catch this 60-Minutes piece on TV on Sunday night. The reporter, Lesley Stahl, was just as horrified as I was about what Jack had to say. But, there's not a thing in here that surprised me one bit...and it shouldn't surprise you, either. This 14:53 youtube.com video clip was sent to me by reader Richard Vollertsen yesterday evening...and is your first must watch/listen of this column. The link is here.  Wealth Gap Between Young and Old Highest EverThe wealth gap between younger and older Americans has stretched to the widest on record, worsened by a prolonged economic downturn that has wiped out job opportunities for young adults and saddled them with housing and college debt. The typical U.S. household headed by a person age 65 or older has a net worth 47 times greater than a household headed by someone under 35, according to an analysis of census data released Monday. While people typically accumulate assets as they age, this wealth gap is now more than double what it was in 2005 and nearly five times the 10-to-1 disparity a quarter-century ago, after adjusting for inflation. This cnbc.com story was sent to me by West Virginia reader Elliot Simon yesterday...and the link is here.  Papademos to be interim leader in GreeceLucas Papademos, a one-time European Central Bank deputy president, was appointed Monday as interim leader of debt-riddled Greece's interim administration. [He's also a member of the Trilateral Commission...and you can read all about Greece's new 'leader' here. I thank reader P.S. for this info.] The country's parties agreed to form a transition government that will help push a bailout package through Parliament before general elections are called, possibly Feb. 19, ekathimerini.com reported. The Greek leadership agreement was reached Sunday after Prime Minister George Papandreou met with opposition leader Antonis Samaras. The two were to meet later Monday, along with Finance Minister Evangelos Venizelos and New Democracy Vice President Stavros Dimas. This UPI story from yesterday was sent to me by Roy Stephens...and the link is here.  Tough-talking Germany takes the eurozone to the brink of a break-upTelegraph columnist Liam Halligan started this next story thusly..."I ended last Sunday's column by predicting that the latest eurozone bail-out would unravel within two weeks. Amid the post-deal euphoria, this statement raised a few eyebrows. As it turned out, though, far from being alarmist, I was actually too optimistic." Then he went on to say the following... Within three days, the much-trumpeted Franco-German "complete strategy" solution, having previously caused share prices to surge, collapsed in a heap. No one should be surprised. The failure of last weekend's agreement was inevitable – not least because there was no agreement. The "50pc haircut" that private sector holders of Greek sovereign bonds "voluntarily accepted" was a myth. There was no resolution in terms of coupons, maturities or participation ratios – as was clear to anyone who looked beyond the headlines. Presented as a victory for courageous politicians over nasty bankers, the Greek bond-holders' deal, the centre-piece of last weekend's entire rescue-plan, has been exposed as a tawdry publicity stunt. Precisely from whom the newly "leveraged" European Financial Stability Facility will be able to raise borrowed funds, and on whose collateral, was also clouded in mystery last weekend, and still is. The possibility of China stumping up cash now looks even less likely than before. Around a fifth of the country's massive $3,200bn (£1,997bn) reserve pool is already euro-denominated and Beijing's earlier disastrous investments in various Wall Street banks attracted bitter internal criticism. Klaus Regling, the chief of the eurozone's new bail-out fund, was received courteously enough in the Chinese capital last week. But it was always doubtful that a country with no welfare state would rescue nations whose welfare states are bloated and out of control. This story was posted in The Telegraph late Saturday night...and is very much worth the read. It's another Roy Stephens offering...and the link is here.  The Euro elite are totally out of touch with the modern worldThe realities of 21st-century politics are finally catching up with the guardians of the single currency. In past weeks, we have grown used to the eurozone as supplicant: the garlicky tramp on the pavement with a piece of cardboard on a string round his neck, bearing the words: "Will work for bail-out." Even now, Osborne's team is working on a host of contingency plans, to be triggered by crises ranging from Greece's exit from the single currency, to the full-blown collapse of the eurozone. This crisis is about much more than the fate of a 12-year-old currency. It is a test of what politicians are for, what they can achieve when pitted against market caprice and fiscal incontinence. [Former British Prime Minister] John Major used to say that this country belonged "at the heart of Europe". Now, David Cameron is among the ring of medics yelling "Clear!", as defibrillation is administered to the very same failing organ. Turns out that the heart of Europe was dicky all along. And for that cardiac frailty, the global body politic may yet pay a deep and terrible price. This is another piece that was posted in The Telegraph on Saturday night...and is another Roy Stephens offering. The link is here.  Europe's democratic deficit grows wider by the dayThe Eurocracy's contempt for the nation-states it governs is growing ever more flagrant. It isn't often that you are aware of the world order changing before your eyes. Last week, the European Union effectively undermined the democratically elected government of one member state and put another one on notice. The snuffing out of that little gasp of desperate rebellion in Greece, and the political chaos that followed, caused a moment's embarrassment when the EU leadership had to face down questions about its commitment to democracy. But that blew over quickly enough: there could be no question of disregarding the will of the people, Angela Merkel insisted. The electorate of a country had every right to express its opinion in a referendum if its government saw fit to hold one. So the Eurocracy that had been saying only days earlier that Greece could never, ever leave the euro, whatever its people or government said they wanted, was now threatening to expel Greece not just from the singl |
| The Euro elite are totally out of touch with the modern world Posted: 07 Nov 2011 09:22 PM PST  The realities of 21st-century politics are finally catching up with the guardians of the single currency. In past weeks, we have grown used to the eurozone as supplicant: the garlicky tramp on the pavement with a piece of cardboard on a string round his neck, bearing the words: "Will work for bail-out." Even now, Osborne's team is working on a host of contingency plans, to be triggered by crises ranging from Greece's exit from the single currency, to the full-blown collapse of the eurozone. |
| Silver analyst Ted Butler audio interview with Dr. Dave Janda Posted: 07 Nov 2011 09:22 PM PST  For whatever reason it ended up there, I discovered this 30-minute interview in my junk mail folder, where it had been rotting since last Friday afternoon. If I'd discovered it in time, it would have been in my Saturday column, but that was not to be. So here it is now...at the very end of an already very long column. Dr. Dave Janda over at WAAM 1600 in Ann Arbor, Michigan always conducts a professional interview...and this one with Ted Butler is not to be missed, as it's an absolute must listen from start to finish. It's posted over at the davejanda.com website...and the link is here. |
| Gold is the only reliable currency now, Leeb tells King World News Posted: 07 Nov 2011 09:22 PM PST  Fund manager Stephen Leeb told King World News yesterday that as money creation becomes central bank policy throughout the world, gold is the only reliable currency, while monetary and solar energy demand may goose silver even more. I thank Chris Powell for providing the above introduction...and the link to the KWN blog is here. |
| The more Western central banks pound gold down, the more China buys Posted: 07 Nov 2011 09:22 PM PST  Chinese gold imports from Hong Kong, a proxy for the country's overall overseas buying, leapt to a record high in September, when monthly purchases matched almost half that for the whole of 2010. The buying spree follows a sharp drop in the price of the precious metal. After hitting a nominal all-time high of $1,920.30 a troy ounce in September, gold fell to a three-month low of $1,534 an ounce later in the month. Chinese investors snapped up the metal as prices fell. Analysts expect the September import surge to continue until the end of the year as Chinese gold buyers snap up gold in advance of Chinese New Year, China's key gold-buying period. |
| Gold & Silver Market Morning, November 8, 2011 Posted: 07 Nov 2011 09:00 PM PST |
| Posted: 07 Nov 2011 08:52 PM PST A look at the markets as of the week ended November 4. Dow Jones Industrial Average: Closed at 11983.24 -61.23 on sideways momentum and 95% of normal volume on a close-out for this week. Price continues in an up-trend moving into a bull triangle apex that can resist price at 12250. Support is 11950. Price is above all moving averages and the wave cycle set-up signals more buying next week. Also, the close was in the top of the trading range; also a bullish signal for buying on Monday. Today's price pull-back was a mild reaction caused by a normal wave two down. If we enter wave three on Monday, which I expect, the Dow could see a stronger rally to open the week. S&P 500 Index: Closed at 1253.23 -7.92 with major price support at 1250. Volume was normal and momentum was flattening. Resistance is 1275 on price and against a former trading line. Expect a 1275 touch at first; then resistance there; and then a break-through with price moving up to 1300-1325. At the end of last April, we touched a price above 1350. Should we go there again, that would probably produce a very wide chart double top. Further ahead for next week, we forecast 1275 is hit, resists, and hit again for a new breakout rally. For the rest of 2011, price can remain stuck between 1275-1325, on two stronger channel lines and price support and resistance points. All ten major industry groups fell today with financials being the worst at -1.4%. However, the close was above all moving averages signaling more buying next week. S&P 100 Index: Closed at 561.97 -4.34 on normal volume and flattening momentum. All the moving averages, today's price close, and two channel lines are converging into one position. This usually forecasts a price stall and a pause before any new buying or selling can resume. Watch for this event on Monday with trading between 565 and 560. Monday could be a nothing trading day with the price locked in this technical vise for one or two days. After that, we expect a breakout rally with price moving toward 580 resistance. Our forecast high for 2011 is 595 to maybe 600 on an overshoot. Nasdaq 100 Index: Closed at 23456.32 -11.39 on normal volume and flattening momentum. Groupon's IPO hit this market today and it was a whopper. It opened at $20; went to $27 and closed at $26.11. It was the largest internet stock sale sold since Google. While you cannot deny success, we think the business plan leaves much to be desired and that this one falls when the Nasdaq skids down next year. The price closed above all moving averages and remains above the up-trending channel support line. This index is faster than the others and is quickly running out of upside technical space before new and hard resistance points are hit. Those technical price blockers would be 2400, 2450, 2500 and 2550. More than likely this index will hit 2400, stop and pause and then retreat before one more upside run at 2500 in this quarter. 30-Year Bonds: Closed at 141.00 +0.77 on basing and rising momentum, and a close above all moving averages. Bonds could be selling gradually lower over the next 90 days. With stock rising on new and firm ground, the bonds formed a bear head and shoulders with a double head on that pattern. Price is above all moving averages holding up the US paper debt as bonds of Europe and some others are not doing well at all. Normally in the USA, bonds and stock are a standard inverse trade. For awhile, bonds might refuse to sell much as fixed income is dramatically shifting in Europe. This means USA paper is more firm than usual despite stocks being in more favor on the buying mode at least for awhile. New support is 139.49 on the 20-day average. Resistance is 141.50. Watch for sideways trading with a very mild down bias. GDXJ Junior Gold Miners And XAU: Our favorite GDXJ posted 32.19 -0.31 today at the close on rising momentum. Price is above the 20 and 50 day averages but under the 200-day average. Volume was about 2/3rd's of normal and price is resisting at 32.50. Once PM shares are past that index number, next resistance is the 200-day average at 34.32. Last April, we touched 42.50 in a selling double top. For a 2011 top, I can see a high of 37.50, which is respectable. Even larger rallies should commence in the first half of 2012. The XAU closed at 208.97 -0.69 with price resisting at 210.00. Momentum is up and the important metal to shares ratio, which has been bottom crawling, has now closed in on a very mild up-trend above the 20-day moving average. Price is above all other moving averages. The rising moves have been slow, just like the GDXJ but, next week with new PM rallies, shares should improve and rally right along with silver and gold. Gold: Closed at 1755.40 -8.10 after a bull double bottom near 1607. Momentum is up and this week we see a new and potentially larger wave three rally next week. There was a new buy signal from Decisionpoint charts as the gold 20-day moving average crossed over and above the 50 day average. Gold is on support and resistance at 1750. This is a normal bull retracement from 1607. In this next wave three, we are expecting a minimum of +$65 and more probably a price of $1807 to $1850. If given enough cycle running room, gold might touch $1923, a former high in August and a double top. Larger rally is next. Silver: Closed at 34.13 -0.35 on rising momentum and a price above the 20-day average at 33.47. Price is still under the 50 and 200 day averages at 34.67 and 34.66, respectively. If we are to break-free from the $32 to $35 price congestion, silver needs to get busy and post a stronger $1.50 upside day and hold. All the moving averages and today's close are clustered together being stuck in a tighter pattern. We think next week that silver can finally breakout and move up and away from $35 riding on the coattails of gold. US Dollar: Closed at 76.99 +0.25 finishing in the middle of the trading range signaling neutral for Monday. Momentum has been falling but is now firmly supported. The inverse trade of the Euro is not doing well giving the dollar some support. Our close and all three moving averages are between 76.46 and 76.99. The close was above the others but by very little. Both support and resistance is 76.00; plus or minus with stalled trading for now. We would expect next week that the Euro could go either way on news. The dollar is now perceived as of better quality than the Euro with Europe's systemic credit problems. The dollar should trade mostly sideways next week near 76.00, plus or minus ½ point. Crude Oil: Closed at 94.25 -0.03 on rising momentum but stalling and resisting at 95.00. Price is above all moving averages and is in the midst of an ABC correction. Oil still has a long bias but $95 is very hard to break through as it's a magnet price. We see new inflation and normal supplies for now. With Bernanke moving into QE-3 faster than ever, the dollar dilution will contribute toward higher commodity prices in general. The crude oil trading range is 92.50 to 96.50. The price of $95 can be broken, further-out this month on colder weather demands. An obvious drag on price is the depression atmosphere. However Asia has taken up quite a bit of demand on growth. If there were no Asia demand, oil might be $65-$75 right now. Watch for more buying next week with a stall at $95 followed by a breakout rally some days thereafter. CRB Index: Closed at 320.44 +0.43 on rising momentum with a potential peak later this month during the second week of November. For now we are above the 20 and 50 day averages. The 200-day is six points above today's close. Hard resistance is that average at 326.73 and the price of 330 on a top channel line. Last year's cycle from mid-November, 2010, through late spring 2011, we had a long rally run from 295 to 370. I am expecting something similar again but with a stronger sell-off in the second half of 2012. Expect 326 or better next week, then a mild correction on expiring metals and grain contracts followed by new rallies after Thanksgiving. –Traderrog         This posting includes an audio/video/photo media file: Download Now |
| Posted: 07 Nov 2011 08:31 PM PST from TFMetalsReport.com:
First of all, my firsthand experience with MFing Global today. My puny, little account has been transferred to a firm called R.J. O'Brien in Chicago. My current positions transferred over intact but the cash did not. Now, it's not like it's make-or break money. It was only $3,100. However, where did it go? The nice people at R.J. O'Brien don't seem to know nor do they have any idea as to whether or not I'll ever "get it back". So, all the press regarding MFing Global co-mingling and plundering their client's funds is apparently true. My $3M as well as everyone else's cash has been, for lack of a better term, stolen. Not cool. |
| Posted: 07 Nov 2011 08:30 PM PST from WealthCycles:
Over the past couple of decades, we've heard numerous stories emanating from 33 Liberty Street—the home of the Federal Reserve Bank of New York, where lies a vault built 50 feet below Manhattan's bedrock. Inside the vault is held thousands of tons of the gold of 36 sovereign countries, including the gold of the Bundesbank, Germany's central bank. But since the origins of banking itself, a sleight of hand has accompanied every transaction—and possibly even the Fed's deal with the Bundesbank. Germany's sovereign gold reserves are the second largest on the planet, second only to the mythical gold reserves of the Fed in the U.S. |
| The Most Bullish Sign For Gold: Falling Inflation Posted: 07 Nov 2011 05:59 PM PST |
| Should I Buy Physical Gold or Gold Shares Posted: 07 Nov 2011 05:48 PM PST Gold Forecaster |
| Gold price moving closer to significant level Posted: 07 Nov 2011 05:42 PM PST |
| And You Thought the Real Estate Bust Was Over Posted: 07 Nov 2011 04:42 PM PST Dollar Collapse |
Do you want to get rich? Just get elected to Congress. The U.S. Senate and the House of Representatives are absolutely packed with wealthy people that are very rapidly becoming even wealthier. The collective net worth of the members of Congress is now measured in the billions of dollars. The people that we have elected to the House and Senate are absolutely swimming in money. Unfortunately, it is not easy to get elected to Congress. In this day and age you generally have to be heavily connected to those that are very wealthy to get into Congress because it takes gigantic amounts of cash to win campaigns. But if you can get in to the club, you pretty much have it made. The numbers that you are about to read are very difficult to believe and they should deeply sadden you. They show that Congress has become all about money. Congressional races are mostly financed by wealthy people, most of the people that we elect to Congress are very wealthy, and they rapidly get wealthier after they are elected. All of this money has turned our republic into something far different than our founding fathers intended.
Gold and silver prices logged decent gains yesterday on the back of the on-going crisis in the eurozone. The November Comex gold contract gained $35 (2%) to settle at $1,790.30 per troy ounce, with the equivalent silver contract gaining 2.2% (74 cents) to settle at $34.81 per troy ounce.
I've got some good stuff for you tonight. Let's get started.
| You are subscribed to email updates from Gold World News Flash 2 To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
No comments:
Post a Comment