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Tuesday, December 20, 2011

Gold World News Flash

Gold World News Flash

Schiff on Gold, Challenges Krugman to Debate

Posted: 19 Dec 2011 08:03 PM PST

NDAA and gold and silver

Posted: 19 Dec 2011 08:03 PM PST

More SLV anomaLIES and the MF global silver

Posted: 19 Dec 2011 08:03 PM PST

I am going to paraphrase Ted Butlers article on the SLV anomaLIES he (we) have just found. Most people...


The Collateral Crisis - Tick By Tick Research Email

Posted: 19 Dec 2011 07:43 PM PST

 

The Collateral Crisis

 

Dear All

 

On 17th December 1903, the Wright brothers took to the air for the first time.  Their prototype propeller driven biplane achieved a remarkable airtime of 12 seconds and a distance of 120 feet during this groundbreaking event.  Oh how things have changed...

 

"The revolution is carried out by means of one's thought"

Kim Jong Il (1942-2011)

 

 

Since this defining moment, as a global society, we have made exponential leaps in complexity across almost every area of our lives.  One must only pick up a modern item of packaged food to realise that the ability for man to feed himself has shifted from organic growth towards the successful synthesis of chemicals.  A shift that has allowed consumers to share in the spoils from far away lands and drastically reduce the real costs of energy ingestion - whatever Jamie Oliver may denounce.  However, when looking at the economy, one must question whether we have gone a little far?

 

Many point to derivatives, many point to credit but I feel that the problem is far closer to home.  Namely: Money.  More specifically, fiat currency.  

 

One of the first things that investors are taught about borrowing and creditworthiness is the concept of credit enhancement.  A process that teaches us that by collateralising a debt, the borrowing costs of an institution can be significantly reduced against the value of that asset or cash flow. Even if we look back to 2008, the majority of the toxic loans were collateralised for enhancement, albeit at hugely inflated values.  Yet neither Sovereign Debt nor Fiat Currency are collateralised by anything more than the backing of a printing press. 

 

I have recently found that the most interesting way to identify our wilful blindness about money is to talk to the retail investor and ask them their views on Gold.  Most, can identify that the price of Gold has soared in the last few years.  But when you ask them why, it is very rare that you receive a structured or informative answer.  There is a huge misconception that the eleven year bull market that Gold has experienced is somehow related to the activity of hedge funds, bankers, speculators and so fourth.  Although these participants have driven up the price through the supply and demand dynamic, their activity is only a second derivative of the Gold movement.

 

Before I continue, let me ask you all a question.  What is one US Dollar worth?  

 

This is somewhat of a trick question.  One dollar is worth one dollar as long as the holder believes that one dollar is an attestable value.  If we think back to when the Wright brothers took their maiden flight discussed earlier, one dollar represented a collateralised monetary amount that could, at any time, be exchanged for Gold.  However, following the World War, the "Gold Standard" was disregarded and instead modern currency would be backed by....err...hmm...well, nothing.  Thus, if we move back to the question asked, what is one US Dollar worth.  The truth is, one dollar is worth as much as society believes it is worth and nothing more.  

 

Let me ask another question.  If over 10 years you increase the money supplied to the system by almost three times, how much is one US dollar worth?

 

By now, most of you should be able to understand where this going (If you don't, please email me and I will explain in private).  So when I look back on the last week and consider the meltdown in Precious Metals, I see nothing but a confused and idiosyncratic marketplace.  If society subscribes to the principle that Gold is the ultimate storage of value, in the current fractional monetary system, we should fundamentally reject the idea that Gold could enter a bear market as many commentators have started to hypothesise.  Yes, this speculative pressure can cause a contango driven sell off in the spot price but, fear not, we are very much in a precious metal bull market.

 

Following that short introduction, it is time to introduce a number of interesting charts and articles for the week.  

 

1)  Is the UK next? (Click HERE)

A set of charts from Thomson Reuters that compare the current economic situation in the UK, France and Germany

 

2) Grant Williams' Things That Make You Go Hmmm -  October 9th (Click HERE)

Grant takes a detailed look at Gold 

 

3) To Have and Have Not - Double Line Funds (Click HERE)

Jeffrey Gundlach talks us through the world economy through a series of charts.  Page 42 may just be the most important chart of next year.

 

4) Kyle Bass - The Hidden Bank run Across Europe (Click HERE) 

Kyle Bass' December Investor Letter takes a look at bank runs in Europe

 

 

For my last email before Christmas that will be sent out later this week, I will be compiling the 12 facts of Christmas for your viewing pleasure.  Although I have some stunners, if any of you have a statistic or fact that you believe could make the list, please message me and I will consider adding them to the elite list of 12.

 

 

"Since human beings are naturally solipsistic, all forms of superstition enjoy what might be called a natural advantage"

Christopher Hitchens (1949-2011)

 

 

Please enjoy the articles and I look forward to any feedback that any of you may have.

 

Best Regards

George Adcock 

 

Founder

www.tickbytick.co.uk

 

@TickByTick_Team

 

 

 

If you would like to receive bi-weekly comment emails like this in the future, please send an email toteam@tickbytick.co.uk with the words "add me" in the subject line.

 

All email addresses will be held with complete confidentiality and there is no profit motive in any piece of writing disseminated.

 

 

 

 

 

 

This is what communism looks like: “The trustee is doing a radical redistribution of property.”

Posted: 19 Dec 2011 06:28 PM PST

Lots of gold and silver went missing at MF Global


MUST LISTEN: JIM WILLIE '20 Lehmans Flash Event & Libyan Gold' - Part 1 of 3

Posted: 19 Dec 2011 06:22 PM PST

This is Part 1-3 of my new interview with Jim Willie. Jim has a Ph.D. in Statistics, and his no-bull approach to quantified analysis


Time for a Two-Month Trade Against the Dollar

Posted: 19 Dec 2011 06:01 PM PST

By Dr. Steve Sjuggerud Monday, December 19, 2011 I believe gold hit a bottom last week, and I believe it will enter a multi-month rally starting now. I also believe that the U.S. dollar hit a near-term peak this week, and I believe it will enter a multi-month downtrend, starting now. Don't get me wrong… I'm not a "perma-bear" on the dollar or a "perma-bull" on any other currency. There are times when the dollar should go up against the euro. And there are times when it should go down. Right now, relative to other currencies, I believe the dollar has peaked in the short run. I believe other currencies will rise against it (as will other speculative assets, like tech stocks and gold stocks) particularly over the next two months. If I were a short-term trader, I would consider shorting the U.S. dollar index right now, for a couple-month trade. You see, investor sentiment about the dollar just hit an extreme. And when extremes like this are hit, they'r...


Solid BitCoin Consolidation Finally Bears A BitCoin Breakout

Posted: 19 Dec 2011 05:50 PM PST

bitcoin consolidation

Reading time: 6 – 9 minutes

Few assets are as volatile as BitCoins have been. Over the past 365 days they have ranged from about $0.05 to over $30. After a solid consolidation BitCoins have now broken out and the next upleg appears to have appeared with a 35% rise in the past 10 days.

BitCoin makes this payment efficiency possible because it is based on cryptographic protocol where its security is grounded in the laws of mathematics not laws of men which may or may not be enforced profitably.
THE BITCOIN RANGE

Back in June 2011 I wrote about how I supposedly missed the trade of the year where I could have "with a completely non-levered investment that would have turned [$5,000] into slightly over $550,000 in 8 months. $550,000 in a completely anonymous account with neither a paper or audit trail nor a 1099 and the asset would have been purchased with $5,000 of physical cash."

Some say hindsight is 20/20, but I do not think so, because it still takes the gathering, analyzing and understanding of the data before one can get a picture and sense of what has happened. Before there were no data points to use in predicting the sustainability of the unsustainable BitCoin upleg. But this time around we can make slightly more grounded prognostications.

Filtering out the daily noise of the markets is essential if one is going to hone in on the signal. One of my favorite tools to accomplish this is the simple 200 day moving average. Taking into account almost seven months of data it is long enough to filter out daily noise, like the MF-Global or MyBitCoin fiascoes, but still close enough to capture the general trend of long-term secular markets, whether bullish or bearish. To derive a relative price I take the current price divided by the 200 day moving average.

In BitCoins case we now have a tremendous upleg and crash in the history books. An analysis of the data reveals the low end of the relative price is around 0.35x (cheap) while the high end was about 12x (expensive).

To create the organized cryptographic hash required energy which had value in the market.
BITCOINS PROVIDE UTILITY AND ARE VALUED

BitCoins are a decentralized peer to peer digital currency. They are the most efficient and safest form of currency I am aware of. Sure, they have neither the intrinsic value nor depth of volume like gold but they are still harmonious with the regression theorem. To create the organized cryptographic hash required energy which had value in the market just like gold had value in the market for jewelery before it acquired additional value from its utility from moneyness and currency applications.

For example, I was reading a blog which recommended the application Total Finder. Total Finder allows one to open multiple tabs in the Mac Finder which makes dragging, dropping or locating folders and files much easier. It is a feature that should be built into the OS but is not so a creative entrepreneur saw a market need and filled it.

I immediately recognized that this application would save me time and decided to purchase it. The price was $18 and it is available in the Apple store. Then I did a Google search for "Total Finder bitcoin" and found the author's article Trade Total Finder for BitCoins. As expected there was a discount, 50%. Why is that?

Because the current payment systems are too expensive. Apple takes 30%, the credit cards and processors take 1-7% and require the identity of both the buyer and seller along with sales and income taxes which are much easier to enforce plus your accounts can be arbitrarily frozen like with the Wikileaks banking blockade. By removing all these middlemen moochers and looters from the transaction both parties are better off with a 50% discount in price.

BitCoin makes this payment efficiency possible because it is based on cryptographic protocol where its security is grounded in the laws of mathematics not laws of men which may or may not be enforced profitably.

I think everyone should hold some BitCoins, perhaps at least 0.1% of their net worth, in their portfolio.
BITCOIN VOLUME HAS INCREASED TREMENDOUSLY

The rise in BitCoin's exchange rate has surprised me. First, BitCoins are currently being inflated at approximately 42% per year. That is quite the increase in the currency supply. Second, early adopters are sure to control tremendous amounts of BitCoins and I would think they would be divesting themselves as the market would bear without sinking the price too drastically and third the BitCoin economy is still in its infancy.

Over the last six months I have watched the average transactions in the public block explorer grow to about $1 million per day. The exchanges have increased their trading volume from about 40,000 coins per day to approximately 200,000 on 19 Dec 2011. With about 8 million BitCoins in circulation there is plenty of volume to provide a bid for any early adopters who decided to disgorge large amounts of coins.

BitCoin is an illusion like the FRN$, Euro or Yen. The market is deep enough that I would place it in the cash portion of your balance sheet. Additionally, if you take the proper steps it is the most portable money ever. For that element of safety and liquidity therefore I think everyone should hold some BitCoins, perhaps at least 0.1% of their net worth, in their portfolio.

CONCLUSION

Watching this breakout and ensuing upleg in BitCoins is going to be exciting. Since the last rally in June there have been real life applications developed from mobile payments to massive online stores with hundreds of thousands of items, entrepreneurs have stepped in to accept BitCoins as payment, the client has been greatly improved, exchange security has been enhanced, with proper privacy hygiene your cryptographic hash is more secure than even a gold coin and more people understand what BitCoins are, how they work and why they want some.

Taking the current price of $4.00, the 200 day moving average of about $8.50 and extrapolating this upleg with a 12x 200dma top we could see a price of around $80.00 per BitCoin. Is this speculative? Yes. Would I bet on seeing $80 per BitCoin by around June or July? Maybe if the odds are around 5%. But I would take a bet for BitCoins to hit $7.50 by June or July at around a 50-70% probability.

So, if you want to buy any Run To Gold products using BitCoins just contact me and we can make a deal with a substantial discount. If you need a place to get any BitCoins then I recommend the Tradehill exchange.

Copyright © 2008. This article was published on http://www.RunToGold.com by Trace Mayer, J.D. on December 19, 2011. This feed is for personal and non-commercial use only. Applicable legal information and disclosures are available. The use of this feed on other websites may breach copyright. If this content is not in your news reader then it may make the page you are viewing an infringement of the copyright. Please inform us at legal@runtogold.com so we can determine what action, if any, to take. If you are interested in how to buy gold or silver then you may consider GoldMoney.(Digital Fingerprint: 1122aabbLittleBrotherIsWatching3344ccdd)
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John Williams - Gold to Prevail as System Falls into Disorder

Posted: 19 Dec 2011 04:57 PM PST

John Williams: Inflation Adjusted Highs for Gold Silver are Now $8,702 and $506


WealthCycles: Gold and Silver Fraud Scheme Revealed

Posted: 19 Dec 2011 04:50 PM PST

—and maybe, people won't think we are crazy any more. As Mike Maloney has said for years: "If you can't hold it, you don't own it."


Gold Seeker Closing Report: Gold and Silver Fall With Stocks and Euro

Posted: 19 Dec 2011 04:00 PM PST

Gold rose $11.65 to $1608.55 by a little after 8AM EST before it fell back below $1590 by late morning in New York and then popped back up to $1599.59 by a little after 1PM EST, but it then fell back off again into the close and ended with a loss of 0.26%. Silver Slipped to as low as $28.588 and ended with a loss of 3.07%.


Abrupt Economic Collapse - The Time Draws Near

Posted: 19 Dec 2011 03:40 PM PST

The ability to prepare is soon drawing to a close. Do not find yourself unprepared and in the middle of the deluge and anarchy that will unfold. The most important preparation is your mind. Think things through and work diligently in preparing to meet the coming challenges. Your destiny is in your hands. Read more......


This posting includes an audio/video/photo media file: Download Now

It's a Bull, It's a Bear, It's Gartman on Gold

Posted: 19 Dec 2011 03:24 PM PST

Triple Lutz Report – Today Was My Lucky Day But No Gold – Episode 135

Posted: 19 Dec 2011 03:02 PM PST

from The Financial Survival Network:

I got some unexpected great news today. A watch that my friends at Tarrytown Jewelers spent the past several years marketing for me finally sold. I had almost forgotten about it and was completely shocked to hear the news. I immediately decided to take the proceeds and buy some gold or silver there, but there was bad news on that score. While they had some gold in stock, they had purchased it several weeks before the recent decline. Therefore, they were unwilling to sell it at a loss and I was out of luck. You really can't blame them. why should they sell for a loss. They figure that if they hold it for a few more weeks or months, eventually it will go up. And, in my opinion they're probably right.

But, you have to realize there are a number of opportunistic buyers/sellers of bullion for whom it is not their primary business. Rather in the course of their main business, the opportunity often arises for them to buy and sell bullion. While the profit margin is low, so is the risk. They are willing to take the risk for a small but steady profit. However, when precious metals prices hit the fan, they can sustain temporary loses. So rather than simply dump the metal, they take it off the market and wait for prices to rebound. And like a self-fulfilling prophecy, this is what usually happens. When enough sellers act in this matter, supply decreases and demand catches up, leading to price rises. So this story is instructive in how these fragmented decentralized physical metal markets actually function.

Click Here to Listen to the Interview

North Korea: The Most Bizarre Country On Earth Is Now Even More Unstable

Posted: 19 Dec 2011 03:00 PM PST

from The Economic Collapse Blog:

A new era has arrived for North Korea and nobody in the western world really knows exactly what is going to happen next. Kim Jong-Il is dead, and now control over the most bizarre country on earth has been handed over to 29-year-old Kim Jong-Un. Many believe that he is even younger than that. North Korea was already quite unstable while Kim Jong-Il was leading it, and now we have a young man that is going to be eager to "prove himself" to the North Korean hierarchy. Unfortunately, a lot of young men under the age of 30 don't handle fame and fortune too well, and a lot of them tend to be hot-headed. Hopefully Kim Jong-Un will turn out to be a reformer that will open up the doors of North Korea, but he could also end up being worse than his father. We just do not know at this point. We know that Kim Jong-Un was educated in Switzerland as a boy, we know that he speaks French, English and German, and we know that he is reportedly a fan of the NBA. Other than that, we just don't know a whole lot about him. What we do know is that Kim Jong-Un is a product of a totalitarian society that is absolutely obsessed with destroying the United States, and that is a very frightening thing.

Read More @ TheEconomicCollapseBlog.com

British Prepare Evacuation Plans Ahead of Spain and Portugal Collapse

Posted: 19 Dec 2011 02:58 PM PST

by Mac Slavo, SHTFPlan.com:

British Foreign Office personnel have proposed emergency evacuation plans for their citizens living throughout Europe, especially in Spain and Portugal. As tensions over the survivability of the Euro mount, the government warns that a collapse of the banking sector and the European monetary unit may make it impossible for those with assets in affected countries, including bank deposit accounts and homes, to access their funds and evacuate to Britain.

The drastic proposals emerged as a former Security Minister warned expats could be left stranded and destitute by the break-up of the single currency.

Brits who invested their savings in their adopted countries may not be able to withdraw cash and could even lose their homes if banks call in loans, worried ministers are warning.

The Foreign Office is preparing to bring them back from Spain and Portugal if the two countries are forced out of the euro, triggering a banking collapse.

Read More @ SHTFPlan.com

Harvey Organ's Daily Gold & Silver Report

Posted: 19 Dec 2011 02:27 PM PST

The Dow fails to hold onto gains/Bank of America in danger of falling below 5.00 dollars/gold and silver withstand another raid


MUST LISTEN: Jim Willie [SGTreport Exclusive]

Posted: 19 Dec 2011 02:18 PM PST

Part 1:
Jim Willie: '20 Lehmans Flash Event & Libyan Gold'

Jim Willie of GoldenJackass.com is here to talk in his uniquely no-bull style about a 20-Lehmans 'Flash Event', the Libyan gold, the Comex shortage, the MF Global farce & Global Quantitative Easing to infinity… Buckle up. Also, read Jim Willie's latest piece, Pathogenesis of Central Bank Ruin.

Part 2:
Jim Willie: 'Comex Shortage & the MF Global Farce'

 Part 3:
Jim Willie: 'Operation Twist & Global Quantitative Easing'


More Deficits, More Debt

Posted: 19 Dec 2011 02:05 PM PST

FGMR - Free Gold Money Report December 19, 2011 – In the first two months of the current fiscal year that began on October 1st, the US national debt has grown $320 billion. That is $21 billion more than the same 2-month period last year, which illustrates that the growth of the national debt continues to accelerate. The reason of course is the federal government’s huge operating deficit, which is not getting any smaller. This point is illustrated in the following chart. Hyperinflation is always the outcome of unchecked government spending. The spending leads to ever greater deficits, which requires the government to borrow ever greater amounts of money. Eventually a point is reached when the government needs to borrow more money than lenders have the capacity – or willingness – to lend. Thereafter the government can take either of two alternative paths. Either the government cuts back its spending, facing the reality that it has run out...


Gold advocate Peter Grandich to be interviewed on Fox biz TV Tuesday morning

Posted: 19 Dec 2011 01:15 PM PST

9:12p ET Monday, December 19, 2011

Dear Friend of GATA and Gold:

GATA's friend, market analyst and mining company adviser Peter Grandich, is scheduled to be interviewed by Stewart Varney on Fox Business News television Tuesday morning from about 9:30 to 9:45. This might be a rare chance to hear something encouraging said about the monetary metals in the mainstream news media.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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The United States Once Again Can Establish
a Stable Dollar Worth Its Weight in Gold

Lewis E. Lehrman, chairman of the Lehrman Institute, sponsor of The Gold Standard Now project, has released a plan to restore economic growth through a stable dollar.

The plan, titled "The True Gold Standard: A Monetary Reform Plan Without Official Reserve Currencies," responds to the recurrent economic crises of the last century and outlines a detailed proposal for America's leadership on "how we get from here to there." That is, how we get from the present unstable paper dollar to a stable dollar as good as gold.

James Grant, author and editor of Grant's Interest Rate Observer, says of the Lehrman plan: "If you have ever wondered how the world can get from here to there -- from the chaos of depreciating paper to a convertible currency worthy of our children and our grandchildren -- wonder no more. The answer, brilliantly expounded, is between these covers. America has long needed a modern Alexander Hamilton. In Lewis E. Lehrman the country has finally found him."

To learn more and to sign up for The Gold Standard Now's free, noncommercial, weekly report, "Prosperity through Gold," please visit:

http://www.thegoldstandardnow.org/gata


Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 22-23, 2012
Vancouver Convention Centre West
Vancouver, British Columbia, Canada

http://cambridgehouse.com/conference-details/vancouver-resource-investme...

California Investment Conference
Saturday-Sunday, February 11-12, 2012
Hyatt Grand Champions Resort
Indian Wells, California, USA

http://cambridgehouse.com/conference-details/california-investment-confe...

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:

http://gata.org/tshirts

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:

http://www.goldrush21.com/

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16


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Be Part of a Chance to Discover
Multi-Million-Ounce Gold and Silver Deposits in Canada

Northaven Resources Corp. (TSX-V:NTV) is advancing five gold and silver projects in highly prospective and politically stable British Columbia, Canada.

Check out the exploration program on our Allco gold/silver project :

-- A large (13,000 hectare) property, covering more than 15 square kilometers of a regional mineralized trend just 3km from a recently announced 1.2-million-ounce gold and 15-million-ounce silver deposit.

-- The property hosts historic high-grade silver workings and many mineral showings as well as former mines at the property's northern and southern boundaries.

-- A deep-penetrating airborne geophysics survey has just been completed on the entire property and neighboring deposits and its results are eagerly awaited.

To learn more about the Allco property or Northaven's other gold and silver projects, please visit:

http://www.northavenresources.com

Or call Northaven CEO Allen Leschert at 604-696-3600.


Capital Account: Mish on Malfunctioning Bureaucrats, Gold's Recent Decline

Posted: 19 Dec 2011 01:05 PM PST

Thousands of government workers reportedly are striking against austerity in Italy today, the IMF announces it will release 3.8 billion dollars...


James Turk: More deficits, more debt

Posted: 19 Dec 2011 01:03 PM PST

9p ET Monday, December 19, 2011

Dear Friend of GATA and Gold:

GoldMoney founder, Free Gold Money Report editor, and GATA consultant James Turk writes tonight that the U.S. government has long passed its "Havenstein moment," as it now spends 58 percent more than it takes in on a monthly basis, that 58 percent constituing debt monetization and a guarantee of hyperinflation. But we might add -- and Turk probably would agree -- that, in the United States, the imperial power and proprietor of the world reserve currency, the new Havenstein moment also guarantees, even before hyperinflation, more and more repressive interventions to subvert markets from manifesting hyperinflation. That is, for starters, what the gold price suppression scheme long has been about. Turk's commentary is titled "More Deficits, More Debt," and it's posted at the Free Gold Money Report Internet site here:

http://www.fgmr.com/more-deficits-more-debt.html?gmrefcode=gata

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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Prophecy Drills 384.9 Meters Grading 0.623 g/t PGM+Au,
0.3% Ni, 0.15% Cu (0.45% NiEq) From Surface At Yukon Wellgreen Project

Company Press Release
Thursday, December 8, 2011

VANCOUVER, British Columbia -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) has announced the final drill results from 2011 drilling at the company's fully owned Wellgreen platinum group metals, nickel, and copper project in the Yukon Territory.

Borehole WS11-192 intercepted 384.9 meters of 0.45 percent nickel equivalent starting from 9.45 meters depth. Included in this greater interval of continuous mineralization is a platinum group metals-rich zone with a combined platinum-palladium-gold grade of 1.358 grams per ton over 19.23 meters (nickel equivalent 0.74%).

The final drilling results for 2011 have shown the Wellgreen Central-East and Central-West deposits to be one contiguous body, whereby there is good potential to broaden significantly the Central-West resource base, which currently contributes only about a quarter of the current 43-101 compliant resource at Wellgreen. Overall the drilling program met with good success in expanding the resource to the east and south. The long drill intercepts suggest the deposit remains very much open in those directions.

For the complete drilling results and the full company statement, please visit:

http://prophecyplat.com/news_2011_dec08_prophecy_platinum_wellgreen_dril...


Join GATA here:

Vancouver Resource Investment Conference
Sunday-Monday, January 22-23, 2012
Vancouver Convention Centre West
Vancouver, British Columbia, Canada

http://cambridgehouse.com/conference-details/vancouver-resource-investme...

California Investment Conference
Saturday-Sunday, February 11-12, 2012
Hyatt Grand Champions Resort
Indian Wells, California, USA

http://cambridgehouse.com/conference-details/california-investment-confe...

Support GATA by purchasing gold and silver commemorative coins:

https://www.amsterdamgold.eu/gata/index.asp?BiD=12

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

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:

http://www.goldrush21.com/

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:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16


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Sona Discovers Potential High-Grade Gold Mineralization
at Blackdome in British Columbia -- 13.6g over 1.5 Meters

From a Company Press Release
November 22, 2011

VANCOUVER, British Columbia -- With its latest surface diamond drilling program at its 100-percent-owned, formerly producing Blackdome gold mine in southern British Columbia, Sona Resources Corp. has discovered a potentially high-grade gold-mineralized area, with one hole intersecting 13.6 grams of gold in 1.5 meters of core drilling.

"We intersected a promising new mineralized zone, and we feel optimistic about the assay results," says Sona's president and CEO, John P. Thompson. "We have undertaken an aggressive exploration program that has tested a number of target zones. Our discovery of this new gold-bearing structure is significant, and it represents a positive development for the company."

Sona aims to bring its permitted Blackdome mill back into production over the next year and a half, at a rate of 200 tonnes per day, with feed from the formerly producing Blackdome mine and the nearby Elizabeth gold deposit property. A positive preliminary economic assessment by Micon International Ltd., based on a gold price of $950 per ounce over eight years, has estimated a cash cost of $208 per tonne milled, or $686 per gold ounce recovered.

For the company's complete press release, please visit:

http://www.sonaresources.com/_resources/news/SONA_NR18_2011-opt.pdf

Graham Summers' Weekly Market Forecast (Deflation is Back Edition)

Posted: 19 Dec 2011 10:36 AM PST

The markets have entered a new round of deflation. The only asset class that has yet to realize this is stocks.

Here's the 30-Year Treasury Bond:

 

As you can see, we've already surpassed the former all-time established during the nadir of the 2008-2009 Crisis. To say this is deflationary would be an understatement. Indeed, on the shorter end of the bond curve Treasuries are yielding 0% (the 3-month), 0.02% (the six month) and 0.2% (the two year).

Put another way, investors are essentially willing to lend to the US for almost NOTHING in return for up to two years… based solely on the notion that by doing so they're at least "guaranteed" a return OF capital.

DE-flation.

Here's Gold:

 

Considering that Gold is a leading indicator for stocks… and that the precious metal only breaks below its long-term uptrend in times of systemic risk, the above breakdown is a MAJOR red flag that something BAD is brewing in the financial system. That something is another round of DE-flation.

How about Agricultural commodities… which anticipated QE Lite and QE 2 before every other asset class?

 

As you can see, we've wiped out ALL of the QE 2 gains and are now on the verge of breaking back into a trading range that goes back to 2009. Again, DE-flation.

 

And then there's stocks… the most clueless of asset classes, which simply don't "get it"… yet.

 

As you can see, while Europe's banking system is imploding, Gold has broken its long-term uptrend, and US Treasuries are signaling a Crisis even worse than 2008, stocks are bouncing off of support as though there's no real danger.

This can be attributed to three factors:

1)   Light volume (fewer and fewer folks are investing in stocks which allows Wall Street to move the market more easily).

2)   End of the year performance gaming by hedge funds and institutions (most of which have had horrible years)

3)   Misguided hope and delusions… just like the ones we had in 2008 when stocks didn't "get it" until the whole system was ready to collapse

In simple terms, the best analysis of today's markets is that we are getting MAJOR red flags across the board that another round of DE-flation is here.

Against this backdrop, stocks are as clueless as they were in 2008. And given that most traders will be taking off early this week, those remaining will be able to move the market any way they please as volume will be even lower than the abysmal levels we've seen for most of 2011.

So my advice is to avoid trading this week if you can help it. There is simply too much uncertainty in the market: stocks could rally based on end of the year shenanigans… or they could just as easily collapse due to Europe or any number of other issues in the system today.

However, the larger picture indicates that deflation is back and it's back with a vengeance. It would be wise to prepare in advance for this as stocks are ALWAYS the last to "get it." And by the looks of the recent action in Gold and Treasuries, "It" is going to be something VERY unpleasant.

If you're looking for specific ideas to profit from this mess, my Surviving a Crisis Four Times Worse Than 2008 report can show you how to turn the unfolding disaster into a time of gains and profits for any investor.

Within its nine pages I explain precisely how the Second Round of the Crisis will unfold, where it will hit hardest, and the best means of profiting from it (the very investments my clients used to make triple digit returns in 2008).

Best of all, this report is 100% FREE. To pick up your copy today simply go to:http://www.gainspainscapital.com and click on the OUR FREE REPORTS tab.

 

Good Investing!

 

Graham Summers

 

PS. We also feature four other reports ALL devoted to helping you protect yourself, your portfolio, and your loved ones from the Second Round of the Great Crisis. Whether it's my proprietary Crash Indicator which has caught every crash in the last 25 years, or how to stockpile food (where to get it, what to buy, and how to store it) our reports cover this information in great detail.

 

And ALL of this is available for FREE under the OUR FREE REPORTS tab at:http://www.gainspainscapital.com

With the Gold Price this Low it's Your Opportunity to Buy One Last Time at Bargain Basement Prices

Posted: 19 Dec 2011 10:35 AM PST

Gold Price Close Today : 1594.40
Change : -1.20 or -0.1%

Silver Price Close Today : 2882.20
Change : -79.3 cents or -2.7%

Gold Silver Ratio Today : 55.319
Change : 1.441 or 2.7%

Silver Gold Ratio Today : 0.01808
Change : -0.000483 or -2.6%

Platinum Price Close Today : 1407.30
Change : -9.80 or -0.7%

Palladium Price Close Today : 608.65
Change : -13.65 or -2.2%

S&P 500 : 1,205.35
Change : -14.31 or -1.2%

Dow In GOLD$ : $152.55
Change : $ (1.17) or -0.8%

Dow in GOLD oz : 7.380
Change : -0.056 or -0.8%

Dow in SILVER oz : 408.24
Change : 7.55 or 1.9%

Dow Industrial : 11,766.26
Change : -100.13 or -0.8%

US Dollar Index : 80.38
Change : 0.114 or 0.1%

The GOLD PRICE and SILVER PRICE what is going on? I can't get around this conclusion that the Big Cause right now is the European bank solvency crisis. It's huge, it's hungry, and it can't be fixed and ain't being fixed. When the panic begins, as it did in 2008, the drain sucks down everything in a heartbeat.

And I will keep on saying this until y'all put your hands over your ears and run for cover: THIS IS NOT THE END OF SILVER and the GOLD PRICE BULL MARKET. This is your opportunity to buy one last time at bargain basement prices. Wait a while if you please. Sure, all the wild numbers are possible, gold at $950 and silver at $16 -- POSSIBLE, but neither you nor I can read the future perfectly. Hence, we weigh possibilities and probabilities and make the best choice we can and trust God for the outcome.

Here's what's happening right now. As long as the SILVER PRICE holds 2600c and the GOLD PRICE holds $1,535, no big drop is coming. Below those levels gold falls to $1,475 support and silver to 2000c.

Today GOLD backed off to $1,594.40, giving back $1.20 but remaining above $1,590 (low struck at $1,585.80). On the other hand, gold was stopped at $1,607.40, so couldn't pierce that $,1,605 resistance.

Why is the premium on US 90% silver coin rising? That generally only happens at bottoms, even at interim bottoms. But strengthened it has.

SILVER lost 79.3c and closed Comex at 2882.2c, a whopping 2.7% loss compared to gold's nothing change. Well, it's to be expected that silver in a correction will be weaker than gold. If that surprises you, you ought to go back to playing pinball machines, because you haven't yet understood this game.

One thing that makes me suspect even my own bearishness is this: when everybody believes a market is going much lower, it won't. Nobody is left to sell it.

But I am willing myself to be patient here and watch silver and gold unfold, and to watch every indicator very closely -- I have indicators y'all know not of -- for the least sign of a turnaround.

I have posted the December Moneychanger at www.the-moneychanger.com for paid subscribers.

At http://finance.yahoo.com/news/the-silver-rush-at-mf-global-.html you can read how the MF global bankruptcy trustee is picking the pockets of the victims/former customers who held Warehouse Receipts for physical silver and gold through MF Global.

First, get this clear in your mind. Until now a "Warehouse Receipt" has been a sacrosanct security, a receipt for stored physical gold and silver, that has never been repudiated, since memory runneth not to the contrary. Yet now MF Global and this bankruptcy trustee, have found a way to render WRs worthless.

Apparently MF Global bought Incredible Shrinking Gold and Silver for its customers, since the trustee proposes dumping it all into a pool and paying only 72% of what's owed -- not physical gold or silver, mind you. So although the gold was supposed to be (1) wholly owned by the customer and segregated and (2) therefore not subject to MF Global's bankruptcy and (3) supposed to be held in physical form under bond, it ain't there.

I offer this account as an example of why I have kept on telling y'all with excruciating regularity and consistency that YOU MUST TAKE PHYSICAL DELIVERY OF YOUR SILVER and GOLD. I have been warning for years that huge amounts of unbacked paper silver circulate, and that at some point in this bull market some large safekeeper of silver and gold will default, and will be discovered to have the equivalent of wooden bars painted silver and gold.

Yes, yes, I know people point at me and snicker that I'm just a suspicious natural born fool from Tennessee, uncouth and unsophisticated in the wise ways of Wall Street. Indeed, that may be true, but MF Global didn't pick MY pocket. Folks, y'all can trust Wall Street. Y'all can trust the financial and banking establishment. Y'all can trust the US government and the Federal Reserve. Y'all can trust them to steal your money, your clothes, your peanut butter sandwich, and throw you out of a boat holding on to an anvil and poke fun at you as you sink.

Trust me. I know 'em.

I'm trying to get past the bearish pictures on the gold and silver charts and remind myself that foregone conclusions do not exist. Somebody is doing Legion's job talking down silver and gold when they've ensnared me. Now that both metals have bounced (Friday), we'll get a better idea of how bad this will be. But more later.

STOCKS are now catching up with silver and gold. Dow today lost 100.13 (0.84%) to close at 11,766.26. S&P500 closed 1,205.35, down 14.31 (1.17%) and 5 scant points from crushing morale by dropping below 1200. Silver and gold's outlook may be fraught with pain, but at least after a while they will come back -- stocks won't. At least, in no span of time likely to do y'all any good.

Despite the best efforts of the Nice Government Men and Central Bank Lackeys and Running Dogs (CBLARD), the US dollar index rose again today, up 11.4 basis points (0.15%), still hanging in above 80. Dollar is rallying, European crisis is driving it, it will go higher before this ends. That will make life difficult for silver and gold.

Meanwhile the euro sank beneath 1.3000 again to 1.2995, down 0.41%. Gazing upon the euro, the move from 1.4247 in November down to 1.2945 last week, may be a fully completed move. If so, the euro will correct briefly, up to l.3200 or so, before it resumes its plunge toward the earth's core.

The Japanese yen looks ready to move lower, but has established a support line over the last 1-1/2 months about 128c/Y100. Closed today at 128.15c/Y100 (Y78.03/$1), down .36%.

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.

Oblivious Because of Mainstream Media

Posted: 19 Dec 2011 09:56 AM PST

By Greg Hunter's USAWatchdog.com

Dear CIGAs,

I think most people are simply oblivious to the enormous dangers the world economy faces.  Oh, I think we will all get through Christmas and New Years without a meltdown, but all bets are off in 2012.  A new acquaintance of mine told me last Friday, "Isn't

Continue reading Oblivious Because of Mainstream Media

Welcome To The Third World, Part 4: Boomers Reap What They’ve Sown

Posted: 19 Dec 2011 09:51 AM PST

It was fun while it lasted. We Baby Boomers got to diss our elders when we were young and borrow without restraint through middle-age. Few generations have traveled such a smooth stretch of financial/psychological highway.

But now that we're…old…the world we created isn't so congenial. Our savings are inadequate, jobs are scarce, and retirement, as a result, is out of reach for many of us. We are, in short, reaping what we've sown these past four decades. From today's Wall Street Journal:


Oldest Baby Boomers Face Jobs Bust
Many older Americans fear they will be working well into their 60s because they didn't save enough to retire. Millions more wish they were that lucky: Without full-time jobs, they are short of money and afraid of what lies ahead.

Deborah Kallick was a professor of biomedical chemistry at the University of Minnesota until she ventured into the private sector in 2000 with a job in genome research. She is now one of more than four million Americans aged 55 to 64 who can't find full-time work. That number has nearly doubled in five years, according to U.S. Department of Labor figures in October.

Ms. Kallick, 60 years old, has been unemployed since 2007 and lives in the Northern California home of an ex-boyfriend. She has run out of unemployment insurance, used up most of her retirement savings and is indebted to relatives and credit-card companies.

A good job could settle her accounts, she said. Until then, Ms. Kallick relies on generosity, occasional consulting work and the sale of sweaters, purses and other possessions on eBay.

"It is very hard to work through this and learn to be calm and happy day to day," said Ms. Kallick, who never married. "It has taken a lot of strength and courage to learn to do that."

Older Baby Boomers are trying to postpone retirement, as many find their spending habits far outpaced their thrift. With U.S. unemployment at 8.6%, and much higher among people in their teens and 20s, younger members of the labor pool accuse Boomers of refusing to gracefully exit the workplace.

But their long-held grip is slipping, as employers look past older Americans to younger, cheaper workers.
The Labor Department counts people as unemployed only if they have looked for a job in the previous month. By that definition, 6.5% of workers aged 55 to 64 were unemployed in October, below the national average but more than twice the jobless rate for the group five years earlier.

Taking into account the number of older people who want full-time work but are unemployed, working part-time or need a job but have quit looking, the percentage jumps to 17.4%, or 4.3 million Americans ages 55 to 64, according to the government data. The number has grown from 2.4 million in October 2006.

This group without full-time work now accounts for more than one in six older Americans seeking positions.

In some ways, older people are doing better than everyone else: Among all U.S. workers, 20% are unemployed, underemployed or have given up looking for jobs. But older people have far less time to rebuild savings.

"This is new. It is different. It is worse than we have experienced before and it is very widespread," said Carl Van Horn, head of the John J. Heldrich Center for Workforce Development at Rutgers University. "It is going to get worse. You are going to have a higher level of poverty among older Americans."

Older people have more trouble finding new jobs. Among unemployed workers older than 55, more than half have been looking for more than two years, compared with 31% of younger workers, according to the Heldrich Center. Among older workers who found a new job, 72% took a pay cut, often a big one, the Rutgers data show.

The problem has been building for decades: Inflation-adjusted, middle-class incomes have stagnated in parallel with a free-spending culture of indebtedness that has left many Americans with too little saved. Over the same time, many U.S. companies cut pensions and shifted to less-generous retirement-savings plans such as 401(k) accounts that have stagnated or diminished in the market tumult of past years.

Older families aren't just failing to save, they are increasingly draining accounts that were supposed to help finance retirement.

The median household headed by someone aged 55 to 64 has $87,200 in retirement accounts and other financial assets, according to Strategic Business Insights' MacroMonitor database. If each of the 4.3 million unemployed or underemployed people in this age group runs through half the family savings, that will, in theory, total $188 billion in lost retirement money.

The typical retirement-age household has too little saved to maintain its standard of living in retirement, according to actuarial and Federal Reserve data.

Financial planners often advise that retirement resources be large enough to provide 85% of a person's working income. Median households headed by a person aged 60 to 62 with a 401(k) account have saved less than one-quarter of what is needed in that account to live as well in retirement, according to Fed data analyzed for The Wall Street Journal by the Center for Retirement Research at Boston College.

The trouble spreads across generations. Older people hang on to jobs or, out of desperation, take lower-level jobs for which they are over-qualified. Either way, they displace younger workers.

In the past, older people who lost jobs often gave up and retired. No longer. In October, two-thirds of people aged 55 to 64 had jobs or wanted them, up from 59% in 1994, according to Labor Department data.

At an age when they should be generating peak incomes and savings, many unemployed and underemployed Americans are applying for early Social Security benefits and spending what's left in their retirement accounts.

Kathi Paladie, 64 years old, lost her job as an executive assistant at a mortgage company in Tacoma, Wash., six years ago. She hasn't found full-time work since but works occasionally as a phone interviewer for a political survey firm.

Her retirement savings is spent, and she said her monthly $800 Social Security checks, $100-a-week unemployment benefits and occasional paychecks barely cover expenses.

"If I don't buy a lot of groceries, then I am OK," said Ms. Paladie, who is divorced. "I do a lot of puzzles sitting here and watching TV. And I play with my bird. And that's about it."

She rarely goes out, she said, "but I've got a clean house." To save money, she sometimes eats Frosted Flakes for dinner. She shares them with her African Grey parrot, Muffin, who also likes the sweetened cereal.

Ms. Paladie hasn't been to the doctor for five years, she said. She frets about paying rent after her unemployment benefits run out next year. Her daughter lives nearby but doesn't have the room for her, Ms. Paladie said. "It is kind of a standing joke," she said, "that if this fails, that I can always move in with them and sleep in the garage."

The problem of older, out-of-work Americans extends beyond individuals to the U.S. economy. Among jobless people aged 55 to 64 who want to work, lost annual wages exceed an estimated $100 billion, based on the median income of this age group.
Retirement savings losses exceed $10 billion a year, assuming contribution rates of 8% for employees and 2% for employers. Even if only half the people were working, the economy would gain $50 billion a year in income and another $5 billion in retirement savings.

That doesn't count the lost wages of people who have taken salary cuts to get new jobs.

Richard Foster, 59 years old, a former computer programmer and software analyst in Arvada, Colo., near Denver, has been unemployed several times over the past decade. The older he gets, the more trouble he has finding jobs in computer mainframes, his specialty, amid changing technologies. And the longer his absence from programming, the harder it is to attract recruiters, who prefer people with experience in the past six months, Mr. Foster said.

These days, he works on the telephone nearly full-time as a customer-service representative. His employer grades him on how fast he finishes each call and how customers rate his service. Mr. Foster recently contracted Bell's palsy, a temporary facial paralysis thought to be stress-related.

The work pays a lot better than a previous job, delivery driver for a dry cleaner. Still, Mr. Foster said, it pays 40% less than what he earned as a programmer at the University of Colorado Hospital, a job he lost in a restructuring that kept more tenured employees.

Mr. Foster's wife, Tina, has complications from a detached retina, which keeps her from working. Her treatment is only partially paid for by his medical plan, which classified Ms. Foster's eye problem as a pre-existing condition.

He has a retirement-savings plan at his new employer, he said, but it's hard to save, given the couple's struggle "to make ends meet day to day." He is putting off dental work, for example, to save money.

While out of work, Mr. Foster said, he sometimes depended on food banks. He filed for personal bankruptcy in 2003. He and his wife got a break recently: his wife's sister and her husband helped them purchase a home. Mortgage payments to his in-laws are less than his rent. Retirement? He said he has no idea when.

Mr. Foster's worries aren't unusual. More than two-thirds of unemployed people older than 50 report extreme stress, trouble sleeping or family strains, according to surveys by the Heldrich Center at Rutgers. More than 60% of respondents said they didn't expect to hold another full-time job in their field and a similar percentage said they were pessimistic about finding any job soon. One-third of those over 55 reported selling possessions to stay afloat.

In another unfortunate consequence, the younger people are when they apply for Social Security retirement benefits, the lower their monthly checks for the rest of their lives. Two-thirds of Americans older than 50 expect to file for the benefits earlier than they would prefer, or already have done so, according to the Rutgers survey.

"People are taking in boarders, they are moving in with their kids, selling their homes for the cash that they can live on," said Abby Snay, executive director in San Francisco for JVS, a community agency that teaches work skills.

Although her agency has long focused on young people, the fastest-growing client group is closer to retirement age. Before the recession, only 11% of her clients were older than 55; now, it is 17%.

"We are seeing people in a panic, in survival mode," she said. "They are about to finish their financial assets and all they have after that is their retirement funds. They are trying to figure out some kind of bridge so they won't have to pay an early withdrawal fee for their retirement incomes."

Ms. Snay has even seen former donors return as clients. "There is a level of shame and humiliation," she said, "and, 'What have I done wrong?' "

She recently offered older clients a workshop on the website LinkedIn. She recalled some people said, "'If I put up a picture, no one will hire me.'"

Her response: "We advise people to put up a photo, put their best foot forward."

Some thoughts
Where to start? Maybe with the observation that prolonged good times produce a lack of foresight. If the world is only going to get better, worrying about the downside and planning for it is wasted effort, since there will always be resources and opportunities more than adequate for tomorrow's challenges. In evolutionary biology terms, late-20th century America selected for optimistic, present-tense people.

But that attitude and the behaviors it engendered — borrowing rather than saving, building excessive entitlement and military structures, breaking the dollar's link to stabilizing forms of money like gold — inevitably convert good times into hard times, in which an optimistic, present-oriented perspective begins to look like utter cluelessness.

In retrospect it seems so obvious. If Boomers had been paying attention, instead of buying 4,000 square foot houses, new cars and big screen TVs, we'd have reacted to rising indebtedness by living small and saving big from the 1980s onward. Instead of voting for whoever promised the most free stuff, we'd have demanded balanced budgets and hard choices.

But we didn't. We became "consumers" rather than builders. Our savings rate was near-zero for much of this time, and our debt ballooned during what should have been our prime saving years. So what's coming isn't a natural disaster. It's the result of choices made by intelligent, well-educated people who should have known better.

Today, if you're 55, haven't saved a lot of money and can only find part-time work, the math is pretty clear: you'll never retire because you'll never accumulate any more capital.

And the truly sad part of this story is that there's no solution. As the debts we've taken on really bite in coming years, the US (and Europe and Japan) will be presented with the choice of liquidating excessive debt through default (producing massive job losses for marginal workers and eliminating the whole concept of retirement for most people) or inflating it away (evaporating the nest eggs of savers who own bonds, cash, or bank CD, also making retirement a lot harder). Either way, Boomers are the main victims.


Striking Portfolio Balance with Gold Stocks

Posted: 19 Dec 2011 09:45 AM PST

Gold stocks have historically ranked among some of the most volatile asset classes. Over any given one-year period, it is a non-event for gold stocks to move plus or minus 38 percent. This DNA of volatility is about three times that of gold bullion, which carries an annual volatility around 13 percent.


Gold price fundamentals remain unchanged

Posted: 19 Dec 2011 09:30 AM PST

As we head towards 2012, uncertainty and growing pessimism are the dominant themes in the gold market right now.


Gold on the Cusp of $3,000+: An Update

Posted: 19 Dec 2011 09:23 AM PST

based on the model, leaving the expectation of a move in Gold up to $3,000 into mid-year


Trashing Gold Owners' Property Rights

Posted: 19 Dec 2011 09:17 AM PST

December 19, 2011 [LIST] [*]Kim Jong Il’s signal accomplishment... Digging Uncle Sam deeper into bankruptcy [*]The plot sickens at MF Global: Owners of allocated bullion bars set to take the same 28% haircut as everyone else... [*]Introducing a precious metals solution tailored to your own level of “counterparty risk tolerance”... [*]Elmerraji on the next levels to watch in the S&P... An intriguing question about whoever’s putting Krugerrands in Salvation Army kettles... a host of peeved readers... and more! [/LIST] We pause this morning to marvel at an accomplishment of Kim Jong Il — one that’s gone unheralded; you won’t read about it in the papers. He made no contributions to U.S. political campaigns. He had no army of lobbyists wandering Capitol Hill. But with little more than a scary speech now and then, he convinced a succession of congresses and three presidents to pour — depending on how you calculate th...


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