Gold World News Flash |
- Gold & Silver Beat 99.8% of Wall Streets Finest
- Some Gold Standard Technical Operating Discussions
- Richard Russell: Gold Scaring Weak Hands, Hang on to Miners
- PSLV Premium Surges to 31%
- China Is Proud To Announce It Is Reflating The Bubble - Will "Actively Push" Investors Into Stocks
- Who Really Owns Your Gold Stocks?
- How To Prepare For The Difficult Years Ahead
- A Study of Open Interest
- The Secrecy Of The Swiss National Bank
- Gerald Celente: Money Junkies and The Coming "Bank Holiday" 2/2
- Richard Russell - Gold Scaring Weak Hands, Hang on to Miners
- All The World's Gold
- Gold Seeker Closing Report: Gold and Silver End Mixed
- 17 Quotes About The Coming Global Financial Collapse That Will Make Your Hair Stand Up
- Rob McEwen See's $150-300/oz Silver
- World’s Biggest Zombies
- Gold Confiscation, a Reality? Part 2
- Limited Edition Silver Proof
- Gold Price Closed Today at $1,607.50 Won't Hang Around Here Long, Tomorrow Ought to Find Gold Higher
- Fractal Analysis Suggests Dow Could Drop to 6,000 in 2012 and Gold Take Off Like It In 1979
- Dr. Nu Yu?s View: 2012 (The Year of the Water Dragon) Bears Watching Closely! Here?s Why
- Ted Butler: Three elements of silver manipulation
- Gold's Prime Movers
- Gold Will Make a New High on This Date
- Home-Brewed Copper: Dr. Michael Berry and Chris Berry
- Did The Silver Bubble Burst?
- Gold’s Prime Movers
- Guest Post: Was 2011 A Dud Or A Springboard For Gold?
- U.S. Gold's McEwen expects investment mania in precious metals
- Michigan radio host Dave Janda interviews GATA Chairman Murphy
| Gold & Silver Beat 99.8% of Wall Streets Finest Posted: 09 Jan 2012 06:22 PM PST Bullion Vault
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| Some Gold Standard Technical Operating Discussions Posted: 09 Jan 2012 06:00 PM PST New World Economics
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| Richard Russell: Gold Scaring Weak Hands, Hang on to Miners Posted: 09 Jan 2012 05:17 PM PST from King World News:
Richard Russell continues: Read More @ KingWorldNews.com
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| Posted: 09 Jan 2012 04:34 PM PST by Andrew Hoffman, MilesFranklin.com:
As long-time readers know, I have done more research on the five closed-end bullion funds trading in the U.S. and Canada than ANYONE. I owned Central Fund of Canada, ticker CEF, as far back as 2003, and have consistently recommended these funds to anyone seeking an alternative to PHYSICAL gold and silver. Central Fund of Canada is roughly half gold, half silver, has a $5 billion market cap, and has been trading since the 1960s. The fund's founder, Phillip Spicer, is still its Chairman, while it's very capable CEO, Stefan Spicer, is his son. I have 100% faith in Stefan's stewardship of the Central Fund, which holds all its metal in audited, "Level 10 vaults" in various Canadian cities, as well as its newer "sister funds" the Central Gold Trust (GTU) and Silver Bullion Trust (SVRZF), both of which I own in my small "cash" account at Charles Schwab.
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| Posted: 09 Jan 2012 04:31 PM PST We did a double take when we read the following lead sentence from a just released Bloomberg report on what is about to take place in China: "China's stocks regulator will "actively" push pension and housing funds to begin investing in capital markets, and encourage long-term investors such as insurers and corporate pension plans to buy more shares." To paraphrase Lewis Black - we will repeat this, because it bears repeating - "China's stocks regulator will "actively" push pension and housing funds to begin investing in capital markets, and encourage long-term investors such as insurers and corporate pension plans to buy more shares." And that is the last ditch effort one does when one has no choice but to push "long-term investors" into the last giant ponzi. Of course, this being China, "long-term investors" means anyone at all, and "pushing" ultimately involves either 9MM or a 0.44 caliber. And what was said earlier about mocking mainstream media spin - well, the first opportunity presents itself a few short hours later - when Bloomberg, the same agency that wrote the above report, tells us that "Asian Shares Rise Amid Global Economic Optimism." Odd - no mention of the fact that China is now pushing habitual gamblers, which over there is another name for "investors" into what is openly an invitation (at gunpoint nonetheless) into the latest and greatest bubble. That said, we give this latest artificial attempt to boost stocks a half life of several days max before the SHCOMP plunges to new lows for the year. More on this hilarious attempt at reponzification:
This explains the surge in US exports recently and the relative economic strength - it appears America has been exporting financial innovation (such as high yield corporate bonds and municipal debt) double time to Shanghai. Which in turn was tolled by domestic child labor sweatshops and resold to US investors via E*Trade and Schwab as quadruple levered ETFs. And the kicker:
Chinese fraud? Unpossible. Needless to say, this act has sown the seeds of the Great Chinese Stock Market Collapse: artificial and forced capital reallocation is always and without fail the coffin in the nail of any ascendent attempt at central planning. Of course, by then the global ponzi will have reach such dire proportions that somehow the ECB will lend money to Greece so that Greece can bail out China, because it is not in ECB's charter to bail out insolvent ponzi regimes (such as Europe of course). Or something just as ludicrous.
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| Who Really Owns Your Gold Stocks? Posted: 09 Jan 2012 04:31 PM PST from DollarVigilante.com:
It is one of the dirtiest little secrets in the brokerage business. And 99.9% of people have no idea it is even being done to them. It's called "street name registration" and it's how the brokerage where you hold your stocks "registers" your shares. To save money and time, and to allow your shares to be included as assets that THEY can use to do what they want with, your brokerage never actually registers you as an owner of the shares. Street name registration allows your broker to lend your shares to short sellers, thereby driving down the price of your own stocks. Additionally, this method allows your broker to "re-hypothecate" your assets–meaning it allows your broker to borrow money against your shares and speculate in the derivatives market! Read More @ DollarVigilante.com
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| How To Prepare For The Difficult Years Ahead Posted: 09 Jan 2012 04:26 PM PST from The Economic Collapse Blog:
But there is also a lot of sensationalism out there. There are some people out there that claim that the economy is going to collapse all at once and that we are going to go from where we are now to some type of a post-apocalyptic "Mad Max" society almost overnight. Read More @ TheEconomicCollapseBlog.com
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| Posted: 09 Jan 2012 04:24 PM PST from TFMetalsReport.com:
First of all, there is all kinds of noise out there about a supposed drop in gold lease rates again. As of yet, I don't see it. The easiest way to track lease rates on a daily basis is through kitco. Here is a link: Read More @ TFMetalsReport.com
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| The Secrecy Of The Swiss National Bank Posted: 09 Jan 2012 04:23 PM PST from WealthCycles:
On August 15 last year, Kashya Hildebrand, the wife of Switzerland's most senior central banker, should have been toasting the success of her eponymous Zurich art gallery's latest exhibition.
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| Gerald Celente: Money Junkies and The Coming "Bank Holiday" 2/2 Posted: 09 Jan 2012 04:17 PM PST  
This posting includes an audio/video/photo media file: Download Now |
| Richard Russell - Gold Scaring Weak Hands, Hang on to Miners Posted: 09 Jan 2012 04:03 PM PST  With gold attempting to build a base at $1,600, silver near the $29 level, the Dow solidly above 12,000 and crude oil over $100, the Godfather of newsletter writers, Richard Russell, had this to say in his latest commentary: "Despite the tidbits of happy employment news that hit the market last Friday, the internals of the stock market continued to look dreary. My PTI advances slowly and very sluggishly and the trend of upside volume on the NYSE is not encouraging."
This posting includes an audio/video/photo media file: Download Now |
| Posted: 09 Jan 2012 04:02 PM PST |
| Gold Seeker Closing Report: Gold and Silver End Mixed Posted: 09 Jan 2012 04:00 PM PST Gold climbed $7.07 to $1623.37 in Asia, but it then fell to as low as $1606.29 in New York and ended with a loss of 0.45%. Silver surged to as high as $29.21 by a little after 9AM EST before it also fell back off in New York, but it still ended with a gain of 0.77%.
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| 17 Quotes About The Coming Global Financial Collapse That Will Make Your Hair Stand Up Posted: 09 Jan 2012 03:57 PM PST  Today, I am going to let some of the top financial professionals in the world tell you why things will soon get much worse. Many of the quotes that you are about to read just might make the hair on the back of your neck stand up. Most people out there have no idea what is about to happen. Most people out there are working hard and are busy preparing for the holidays and they are hopeful that the economy will turn around soon. But that is not going to happen. We are heading for another major global financial collapse, and when it happens the U.S. economy is going to get even worse. Read more... 
This posting includes an audio/video/photo media file: Download Now |
| Rob McEwen See's $150-300/oz Silver Posted: 09 Jan 2012 02:09 PM PST Looks like Rob McEwen has come out of the blackout zone due to the US Gold/Minera Andes merger deal. He's expecting $2000/oz gold at some point in 2012. He also expects silver to increase to the $150-300/oz price, no expected timeline, but he has stated in the past he expects a crescendo around 2014-2015. See full article here. NOTE: Rob McEwen is scheduled to be on BNN tomorrow at 7:30am. Jan 10th.
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| Posted: 09 Jan 2012 01:03 PM PST Bill Bonner View the original article. January 09, 2012 10:26 AM Not much action at the end of last week… Gold closed the week over $1,600. Oil remained over $100. The show goes on! We are watching the destruction of an empire. All empires must go away sometime. They are natural things. And nature puts a time bomb in everything she creates. The US empire is doomed. Just like all the others that went before it. It is doomed by nature herself — condemned by the gods to blow up and die. None of this should be surprising to you, dear reader. We've seen this movie before. Hundreds of empires have come and gone. We know how this movie ends. More or less. What we know for sure is that the US is going broke. There is hardly any other plausible outcome. We've gone over the numbers so often we don't need to repeat them. Yes, it is true that the feds could still save themselves….if they had the will. They could cut taxes to a flat 10%…and spend only what they raised in ta...
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| Gold Confiscation, a Reality? Part 2 Posted: 09 Jan 2012 01:00 PM PST Despite the small moves in exchange rates between the U.S. dollar and the euro, confidence and trust has been debased. Looking forward to 2012, we see that deflation is becoming a rising danger. After the decay in 2011 that has hammered confidence in the euro, the need to issue more and more 'new' money is growing. The Eurozone is moving into recession (if it is not already in one). The Eurozone is more than likely to lose one or more of its weaker members –this will be good for the euro itself though—so liquidity shortages may force more money supply growth already exceptionally high in many countries.
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| Posted: 09 Jan 2012 11:38 AM PST by Ted Butler of silverseek.com This is an excerpt from the Weekly Review for subscribers of January 7, 2012: Commissioner Bart Chilton of the CFTC gave an interview this week with Jim Puplava that should interest you. A number of subscribers asked me if I would comment on what Commissioner Chilton had to say. In commenting, I can't help but try to be as objective as possible. For the record, I commend Chilton for the role he has taken on the important issues, like position limits, concentration and in addressing allegations of manipulation in silver. He is the only commissioner to have done so. I believe there would be no ongoing silver investigation were it not for him. I think he is one of the good guys and I started writing to him about these issues in 2007. I agree with most of what Commissioner Chilton had to say, particularly about concentration and position limits and manipulation. I'm glad the interview was mostly about potential manipulation in the silver market. I'm going to skip over all the things I agree with Chilton on and confine my remarks to where I disagree with him. Agreement can be boring. Even though the disagreements are few, I believe they go to the heart of the matter. Chilton pointed out that it is difficult to prove manipulation in a court of law. He indicated that there are three elements necessary to prove manipulation – the intent to manipulate, the ability to manipulate and the success in the manipulation. I accept his legal definition. Where I respectfully disagree with him is in the degree of difficulty in establishing all three elements in the silver manipulation. Let's go through the three elements. Let's forget for a moment that silver has been under investigation by the CFTC's Enforcement Division for almost three and a half years and that countless civil lawsuits have been filed against JPMorgan for allegations of silver manipulation in 2008. Let's just focus on the last year, when silver experienced two separate 35% price declines in a matter of days. Such a decline in a world commodity for no observable . Yet it happened twice in silver within months. As I have written recently, as a result of the second silver price takedown in September, a tight-knit group of commercials traders bought the equivalent of 165 million ounces in net COMEX futures contracts on the price decline. This is equal to 22% of the world's annual 740 million oz silver mine production. These same traders came close to buying the same amount in the big May silver price decline as well. This is an extraordinary amount of silver futures, much larger than any manipulative long position attributed to the Hunt Bros. in 1980. It is not possible to buy such a large amount of silver by accident. It had to be intentional. There is the element of intent that Commissioner Chilton speaks of. The next element necessary to prove manipulation is the ability to manipulate by a concentrated position or otherwise (collusion among different traders). It would seem that the ability to manipulate is also self-evident, as it has been done on more than one occasion in silver. This also ties into Commissioner Chilton's third element, namely, success being brought about by intent and the ability to manipulate. It couldn't have been more successful for the COMEX commercial crooks than the results they achieved (at great cost to innocent investors and traders). I think the problem that Commissioner Chilton and the agency are having is that they have convinced themselves they need proof by wire-taps and emails and other incriminating documentation (like actual confessions) before they can prove manipulation in silver. But the COMEX commercial crooks are not likely to accommodate them. The Commission has something better than that already in hand, namely, the very data that I rely on in analyzing the market. The Commission should stop wishing and waiting for evidence to drop out of the sky and just study the COT and Bank Participation statistics that they produce on a regular basis. Because it appears so easy for the Commission to prove a silver manipulation on the basis of the three elements outlined by Commissioner Chilton, my guess is that there is something else holding the agency back from ending this scam. They just don't want to end it. Perhaps there is a political motive or the knowledge that JPMorgan and the CME may be too big to sue. It's hard to see how the three elements can't be proved by the public data. This is all very troubling. Every federal agency and department has a specific public mission. For example, the Federal Aviation Administration's mission is to ensure aviation safety. Having come off the safest decade in aviation history, it would appear the FAA is achieving its primary mission. The Department of Defense would appear to be meeting its primary mission of defending the country from foreign military attack. I'm sure the Food & Drug Administration would quickly deal with an outbreak of tampered drugs harmful to public safety. Try as I might, I don't see the CFTC as coming close to meeting its primary mission of protecting the public and our markets from fraud, abuse and manipulation. Manipulation is the most serious market crime possible. There have been enough credible allegations of manipulation in silver, based upon data from the Commission itself, that the agency appears involved in a never ending silver investigation. But the investigation is never resolved. The critical point is that if there is a silver manipulation (as I and many believe), then it is an active crime in progress. It would be as if commercial passenger jets were dropping out of the sky every other day and the FAA refused to comment. Or if the US was invaded militarily and the Department of Defense went on vacation. Or if citizens were dying from tainted aspirin and the FDA couldn't be bothered. That would be completely unacceptable and require immediate remedy of the strongest kind. Because preventing manipulation is the CFTC's number one mission, credible allegations of an active manipulation, particularly one in which the Commission has initiated a formal investigation, must be resolved immediately. The Commission must either terminate such a manipulation or explain why there is no manipulation forthwith. This business of explaining why it's so difficult to prove manipulation is unacceptable, especially when all the elements of manipulation are present in the public record. When the stock market experienced its infamous flash crash in May 2010, all the regulators, including the CFTC, rushed to make sure it would never happen again. That's good. What's not good is that silver has experienced a continuous and more severe series of flash crashes all along and the same CFTC hasn't lifted a finger to intervene. The laws against manipulation apply to all markets, not just to those randomly selected and deemed by the agency to be important. The rule of law applies to all. That includes silver investors who have been savaged by the COMEX commercial crooks. The CFTC has many important matters to deal with in Dodd-Frank and in helping to sort out the MF Global mess. But nothing comes closer in importance than resolving allegations of an active manipulation in silver, as this is truly a crime in progress. I call on the Commission to immediately end the silver manipulation or explain why there is no manipulation. So should you. ~TB
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| Gold Price Closed Today at $1,607.50 Won't Hang Around Here Long, Tomorrow Ought to Find Gold Higher Posted: 09 Jan 2012 11:12 AM PST Gold Price Close Today : 1607.50 Change : (8.60) or -0.5% Silver Price Close Today : 2874.90 Change : 9.60 cents or 0.3% Gold Silver Ratio Today : 55.915 Change : -0.487 or -0.9% Silver Gold Ratio Today : 0.01788 Change : 0.000155 or 0.9% Platinum Price Close Today : 1427.50 Change : 9.50 or 0.7% Palladium Price Close Today : 617.90 Change : -49.35 or -7.4% S&P 500 : 1,280.70 Change : 2.89 or 0.2% Dow In GOLD$ : $159.37 Change : $ 1.28 or 0.8% Dow in GOLD oz : 7.709 Change : 0.062 or 0.8% Dow in SILVER oz : 431.07 Change : -0.30 or -0.1% Dow Industrial : 12,392.69 Change : 32.77 or 0.3% US Dollar Index : 80.98 Change : -0.456 or -0.6% For the past six months or so it seems that when the GOLD PRICE and SILVER PRICE close one-up/one-down, the next day they both rise. Now that doesn't happen every time, but enough to spook me. And today silver rose up 9.6% (piddling amount, 0.3%) to 2874.9c while gold fell $8.60 (1/2%) to $1,607.50. The GOLD PRICE chart has that "I've built a mountain peak and now I'm skidding down the other side" look to it. It is skids past $1,605, 'twill skid a ways further. On the other hand (there's that double-minded phrase again), if GOLD can clear $1,625/$1,630, why it would look strong as a garlic milkshake and attract all sorts of hangers-on. Range for gold was not noticeably weak today, $1,623.20 to $1,606.43 against Friday's $1,631 to $1,608.75. Well, it won't hang around here long, and tomorrow ought to find gold higher. The SILVER PRICE range today wasn't much different to Fridays (low came 6c lower, high 24c lower), but silver has established an ever so slight downtrend with support at 2860c. If silver breaks that mark, all its new found friends and cheerleaders will head for the exits like dope-dealers at a concert when the cops show up. But you let silver rise a dollar and pierce 2960c, and investors will be swarming silver like politicians around a money hole. And I don't know which way it will break. I don't think either metal has a lot of downside left. They've withstood huge drops, from $1,927 to $1,522 (21%) and from 4950c to 2600c (48.3%). That just about does it. But I am quixotically hoping still that silver will fall off the wall once more time while gold holds its place, and take that gold/silver ratio up to 57.5 for another swap. If it doesn't, well Sancho Panza and I will just go looking for more windmills. Times come when you can pay little attention to markets but this isn't one of them. Watch silver and gold closely, looking for that ratio over 57.5, and use that as your trigger to buy more. I manage a few accounts for some charitable entities, and I've been casting up accounts lately, looking over performance. Big question in my mind was the wisdom of keeping presently-unneeded cash in silver or gold (I don't mean cash you'll need in six months or less, or even 12 necessarily) rather than keeping it in a bank. Some of these accounts add some gold or silver nearly every week, so they've bought this year high and low. And in years past. Since some of them are 12 years old and some only two or three, their performance varies a lot, but the lowest shows a 21% lifetime gain while the greatest has added 71%. So y'all can leave your money in banks if you want, but that's sufficiently proved to me that my money ought to be held in silver and gold. Let the market rage, up and down, I'll just keep on converting those excess bucks into metals. Course, I ain't got one of them fancy money-manager decrees from Harvard or MYT -- I'm just a natural born fool from Tennessee, so what do I know? Don't look now, but the US dollar index has started its next leg up. Oh, today it gave up 45.6 basis points (0.6%), but gave it up to 80.98, after Friday's close at 81.264. Dollar gained 164.4 basis points last week! Face it: y'all will be dealing with a strong dollar for several months, UNLESS it falls below 79.50. The euro is no longer a contender, except in the "Fiat Currencies Race to the Bottom." It rose a bit today, 0.4%, to 1.2764, but this is virtual leagues from support around 1.3200. Market refuseth yet to believe that the euro has been fixed. Yen is still playing with that bottom channel boundary line -- the bottom line of the channel it fell OUT of. Rose today 0.17% to 130.15c/Y100 (Y76.83/$1). Doubtful that the Nice Government Men in Japan would let the yen out from under their thumb. STOCKS have stalled around 12,400. Dow today stirred a little bit, up 32.77 (0.27%) to 12,396.69. S&P500 rose about the same, 2.89 (0.23%) to close 1,280.70. Back off and you'll see a gigantic broadening top, like unto the top posted in 1999 - 2000. Takes a long time for a market that big to roll over, but by the time it does it has built up lots of downside inertia. I know there will be sirens aplenty, crooning in your ears that the worst of the recession is over and the economy will come back this year. All I can say is, Hide and watch. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2012, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. 
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| Fractal Analysis Suggests Dow Could Drop to 6,000 in 2012 and Gold Take Off Like It In 1979 Posted: 09 Jan 2012 10:53 AM PST [While] I do not prescribe to the 2012 end of the world or end of an era phenomenon, my recent fractal (pattern) analysis of the Dow suggests that it is forming a similar pattern to that which was formed in the late 60s to early 70s and if this pattern continues in a similar manner…the Dow could indeed have an annus horribilis (horrible year) in 2012. Let me explain. Words: 1416 So says Hubert Moolman ([url]www.hubertmoolman.wordpress.com[/url]) in edited excerpts from his original article*. [INDENT]*Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) has edited ([ ]), abridged (…) and reformatted (some sub-titles and bold/italics emphases) the article below for the sake of clarity and brevity to ensure a fast and easy read. The report’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. P...
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| Dr. Nu Yu?s View: 2012 (The Year of the Water Dragon) Bears Watching Closely! Here?s Why Posted: 09 Jan 2012 10:53 AM PST The stock markets in the West are stealthily forming bullish ascending triangle patterns and looking for breakouts while those in the East are all in a downward spiral. The U.S. dollar is also in an ascending triangle offset by gold which*is transitioning from a bump phase to a*run phase and could possibly fall as low as $1,420 per troy ounce*in this correction. Silver is*already in the run phase and could drop down to as low as $26.*Analyses of these markets suggest that the Year of the Water Dragon may*be full of surprises. Let me explain my determinations with a number of graphs. Words: 1122 So says Dr. Nu Yu (www.fx5186.wordpress.com/) in edited excerpts from*his latest Market Weekly Update. [INDENT]*Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!) has edited ([ ]), abridged (…) and reformatted (some sub-titles and bold/italics emphases) the article below for the sake of c...
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| Ted Butler: Three elements of silver manipulation Posted: 09 Jan 2012 10:50 AM PST 6:53p ET Monday, January 9, 2012 Dear Friend of GATA and Gold (and Silver): Silver market analyst Ted Butler explains today why silver market manipulation would be easier to prove than Bart Chilton of the U.S. Commodity Futures Trading Commission may think, and he wonders why the commission's latest investigation of the silver market has gone on for 3 1/2 years without result. To GATA the most plausible explanation is that the CFTC has discovered more or less that the manipulation of the silver market is, like the manipulation of the gold market, essentially a U.S. government operation. Indeed, in failing to announce a conclusion and findings in its silver market investigation, even after having the benefit of the massive class-action lawsuit against JPMorganChase over silver market manipulation -- http://www.gata.org/node/10448 -- the CFTC has pretty much cinched the case. The commission is saying that the silver market simply can't be discussed openly and honestly. Good enough. Butler's commentary is headlined "Three Elements of Manipulation" and it's posted at GoldSeek's companion site, SilverSeek, here: http://www.silverseek.com/commentary/three-elements-manipulation CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Sona Discovers Potential High-Grade Gold Mineralization From a Company Press Release 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 Join GATA here: Vancouver Resource Investment Conference http://cambridgehouse.com/conference-details/vancouver-resource-investme... California Investment Conference http://cambridgehouse.com/conference-details/california-investment-confe... Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Prophecy Drills 384.9 Meters Grading 0.623 g/t PGM+Au, Company Press Release 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...
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| Posted: 09 Jan 2012 10:42 AM PST January 9, 2012 [LIST] [*]Soros buying gold again? Paulson selling? The 5 tracks a couple of big movers in the market... while gold goes nowhere... [*]Best buying opportunity in the gold space since early 2009? A revealing chart... and your chance to ask questions of six experts [*]Chris Mayer prepares to take you bargain hunting on “the biggest yard sale we’ve ever seen” [*]The one college major with even worse job prospects than the arts and humanities... a reader’s futile plea to the Supreme Court... Orwellian observations from an overseas reader... and more! [/LIST] Gold is starting the new week around where it ended the previous one. The bid as of this writing is $1,612. But the buzz this morning is about what the hedge fund giants are doing. George Soros — who dumped most of his gold holdings in early 2011 — appears to have gotten back in, acquiring shares of GLD toward year-end. John Paulson appears to have sold off G...
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| Gold Will Make a New High on This Date Posted: 09 Jan 2012 10:12 AM PST Synopsis: An analysis of the three major corrections in gold this past decade provides clues as to when gold will reach new highs – and stay there. Dear Readers, It's been a relatively quiet week, post-holiday… but not without good news for gold investors, with the yellow metal back up over $1,600/ounce at Friday's close. To put that and where gold goes next into context, this week Jeff Clark has a look at past corrections and recoveries for gold. Gold is not the only metal of interest to us, but it's what's uppermost on our minds at present, with the correction making genuine bargains available in the gold stocks. We'll have a look at other metals in the future as appropriate. Rock & Stock StatsLastOne Month AgoOne Year AgoGold1,616.501,708.001,368.50Silver28.7531.8529.08Copper3.433.574.32Oil101.93101.2888.37Gold Producers (GDX)53.3559.0256.74Gold Junior Stocks (GDXJ)25.6230.0736.12Silver Stocks (SIL)21.9423.2724.40TSX (T...
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| Home-Brewed Copper: Dr. Michael Berry and Chris Berry Posted: 09 Jan 2012 10:12 AM PST The Gold Report: In a recent edition of Morning Notes, you referenced some "sprouting" problems in China. What are those problems and are they likely to affect China's economy? Michael Berry: We spent a couple of weeks in Shenzhen, China, and Hong Kong last month. On the surface, there do not appear to be any real problems in China. The infrastructure is fabulous—new roads, tunnels, bridges and stadiums. There are a lot of institutional investors in China with a tremendous thirst for knowledge. But old China hands—and I've been there many times since the 1960s—feel that there are serious problems beneath the surface, including inflation, slowing exports, bad loans and overbuilding....
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| Posted: 09 Jan 2012 09:58 AM PST Gold bugs argue that Gold is far from being a Bubble. Especially not when you look at the following comparison, which plots Gold's rise versus the Nasdaq's rise in the 1990's. Read More...
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| Posted: 09 Jan 2012 09:30 AM PST Addison Wiggin – January 9, 2012
George Soros — who dumped most of his gold holdings in early 2011 — appears to have gotten back in, acquiring shares of GLD toward year-end. John Paulson appears to have sold off GLD at the same time. It's conceivable he did so to meet redemptions from investors who got fed up with taking a bath on his other signature plays that didn't work out so well — like Citi and Sino-Forest. Paulson's Advantage Plus fund — one of his largest — fell 51% in 2011. "Clearly, this has been an aberrational year for us," he wrote his remaining investors last Thursday. We won't know how much GLD was bought and sold until Soros and Paulson file their 13-Fs, which they will do by Feb. 14. With the little that we know to date, the moves appear to cancel out… leaving our 2012 gold forecast untouched.
"It's ready for a rest." "Even so, we should probably expect it to go up again. Because the danger of thinking it will go up is far lower than the benefit of thinking it will go down." And if it falls to $1,400… or even $1,200… that's just an opportunity to load up on more.
"We… also expect central bank gold buying will continue," said the Deutsche Bank report, "and that tail event risk as it relates to the European sovereign debt crisis and the European Central Bank's balance sheet will encourage gold prices to recover." The German giant is looking for an average of $1,825 this year." While not citing a price target, Goldman's Jeffrey Currie also cited central bank buying during a conference in London today. It's a compelling argument: As of six months ago, China held only 1.8% of its total reserves in gold… Russia 8.7%… and India 9.5%. In the United States, the figure is 76.5%… assuming all the gold last audited in Fort Knox in the '50s is still there, heh.
"It is not you and me. It is about their system and their interests. As much as they love foisting the paper stuff on the population, risking even the destruction of the means by which we earn, save and provide for ourselves, when it comes to government and central bank finance, gold serves them well." "They deny it publicly, but their actions speak more loudly than their press conferences. Governments destroyed the gold standard long ago, but they know better than anyone that there is no surer means of financial security, proven over nearly all times and all places."
But an examination of the HUI-to-gold ratio — literally the HUI divided by the gold price — reveals a historic buying opportunity…  By this measure, gold stocks are nearly as good a value as they were during the panic lows in early 2009. From there, the HUI doubled in less than two years.
We'll show you the chart tomorrow… and we'll tell you why the window of opportunity might be closing very soon. For now let me assure you our own research checks out against reputable experts, including resource investing guru Rick Rule… fund genius Frank Holmes… and our own Harvard-trained geologist, Byron King. They're among six experts we've assembled for an online seminar on this very opportunity. Byron was recording his segment only this morning in the library attached to my office…  In Mr. King's left hand is an iPhone. In his right hand is a quartzite rock with gold ore. Guess which one is worth more? More to the point, Byron names his favorite gold stock of the moment during his talk… and you can access it free. You can also get the sessions with Rick, Frank, Chris Mayer, Michael Pento and Nick Bruyer. Every one of them is free. They're available starting Thursday… and access is yours as soon as you sign up. You can even submit your own questions. Here's where to do so.
The first "Merkozy" summit of 2012 delivered the unsurprising promise that European leaders will move heaven and earth to keep Greece in the eurozone. We have no doubt this is true and will remain so… until the moment it's not.
Still, that's likely to be only a pause in a rate-cutting cycle that began the moment Mario Draghi took over as chairman last fall. "He's no Trichet or Duisenberg," Chuck says, comparing Draghi to his hawkish predecessors. He's more of a Bernanke & Greenspan. "So you can expect to see eurozone rate dropping below 1% for the first time this year… It's sad, I know… But I can tell you that Draghi and his fellow-euroheads, don't care about the ECB's credibility… And they don't believe it will be damaged, as the markets will see the rate cuts as needed to help the eurozone economy that appears to be heading to recession."
"Yes, the governments are in trouble. Part of the solution is to sell stuff they own. Greece, for instance, is going to sell about 50 billion euros of stuff. The list is long: stakes in ports, 39 airports, a casino, two water companies, a nickel miner, two banks, gas and power monopolies and land. Not that you'd want to put a dime in Greece, per se, but the other EU countries will host similar sales." "Italy, Spain, Portugal — even the U.K. — will sell airports, airlines, radio frequencies, television channels, water and gas utilities, telecom companies and much more. Not only the governments, but the EU banks will have to unload nearly $2 trillion in assets." "This is going to create some massive opportunities to pick and choose among the rubble and get stuff on the cheap." Chris has already spotted one opportunity. Usually, it's reserved for the very rich… but in this case, you can take part. All you have to be is a subscriber to Capital & Crisis.
In our ongoing survey of the higher-education bubble, we've come across new research from George Washington University. Researchers there recently crunched some Census numbers to discover which college majors have the highest and lowest unemployment rates. Newly minted architects fare the worst, with a 13.9% unemployment rate. That's even worse than arts majors (11.1%) and humanities majors (9.1%).  Across all recent college grads, the unemployment rate is 8.9%. The majors that fared best are interesting. Graduates who majored in agriculture and natural resources have a 7% unemployment rate — which speaks volumes about the ongoing demand for commodities. But education majors and health care majors have it best of all: In both categories, the unemployment rate is 5.4%. In the Labor Department's unemployment report on Friday, government employment fell through most of 2011 — except in education. The collapse of the housing bubble and relentless hollowing out of U.S. manufacturing is not delivering a nation of high-value brainiac jobs… far from it. But we do appear to be building a nation of people emptying each other's bedpans and teaching others how to do the same.
"I heard on the radio today that if the USA labor force was the same size today as it was in January 2009 when Obama took office, our unemployment rate would be 10.9%." "The 8.5% unemployment rate reported this week is a farce. Drive people out of the workforce and drive down the unemployment rate! One day soon when no one is working, we'll have full employment!!" The 5: That number checks out. And if you go back two more years to January 2007, the number of people characterized as "not in the labor force" has grown by 7.5 million.
"Where is the outrage and where are the lawsuits from the downstream holders that are getting it socked to them? I don't recall the government having the power to abrogate private contracts in my read of the Constitution." "This (and the prior lawless action) needs to go to the Supreme Court." The 5: Recall in 2009 the state of Indiana pension fund — among other Chrysler bondholders — sued Chrysler and the Treasury Department for that sleazy deal. The highest court in the land declined to hear their challenge.
"The American people, who once lived in one of the most free countries in the world, a country where individual rights and freedom were respected, are slowly but surely loosing their freedom. Corrupt leaders and governments know that to control a population, the population needs to be kept scared. They also know that as people loose their freedom, they become angry, so this anger needs to be directed somewhere. What better way to achieve both these things than to have a foreign enemy." "Once, the Cold War was finished, a new foreign enemy was needed, so along came al-Qaida and the Islamic terrorist threat. Then there was Iraq with its so-called weapons of mass destruction, which, by the way, were never found, but over 100,000 Iraqi civilians had to lose their lives due to this American escapade." "Now the war drums are beating against Iran, another country that has never attacked America. How many more countries that have never attacked America will America attack? Iran is no threat to the USA. Iran knows that for all their long-held nuclear ambitions, they will never be able to match America's military supremacy. Even if they were to develop the know-how to fit a nuclear warhead to a ballistic missile, the odds are that the weapon would be shot down the moment it left its launchpad by one of the hundreds of anti-missile batteries the U.S. has deployed around the Gulf region in anticipation of just such an eventuality." "Now that the Middle East is running out of countries that still need U.S.-style regime change, it is time for a new enemy to be organized. Who is the latest target of U.S. defense policy? China. So now China can be a new enemy to scare the U.S. population." "When I was visiting the USA a while after the Sept. 11 attacks, I saw something that could have come straight out of the book 1984. Each morning, we would go into the hotel restaurant for breakfast and on the wall would be the TV blaring CNN news, and running across the bottom of the screen would be that day's color-coded terror alert, red for extreme down to green for low." "The terror threat from the enemy, terrorism, to keep the population scared. It was uncanny just how prescient George Orwell was."
"Your 5, on the other hand, I never miss. Keep it up." "P.S. Love the political stuff also." The 5: Great, just when we thought we'd extracted ourselves from the "political stuff," you have to go and pull us back in…thanks. While we're here, let's take a look at Michael O'Leary, founder of Ryanair, giving bureaucrats in Brussels hell for their stupid protectionist policies. He begins with the irony of having been invited to address a conference on innovation hosted by said bureaucrats… in Brussels:  "This guy is straight out of Atlas Shrugged," reads the first comment beneath the video "Notice, that this means he's doing well, the customers have more of their own cash in their own pockets. True capitalism and free market action at work: win-win-lose. Who loses? The bureaucrats who want to control every aspect of your lives." If you're a connoisseur of irony, pay close attention at the 6:10 mark. Here's a photo from Ryanair's annual charity calendar, shot exclusively with talent assembled from Ryanair's cabin crews:  Cheers, Addison Wiggin P.S. If you're bored by the euro crisis, why not make some money from it? That'll spruce things up for you a bit… As mentioned above, Chris is working on an idea that'll be worth holding for at least a year or two. But if you're looking for something that'll move faster, Abe Cofnas is more your speed. "On Friday," says Abe, "the speculative shorts against the EURUSD hit new levels. To me, that indicates it's time for a pause in this pessimism and bearish outlook." He's looking for the euro to move up from the current $1.274 to $1.282 before week's end… which could deliver his readers a 150% gain. Abe did nicely by his readers tracking the euro crisis last year, with seven plays in eight weeks delivering gains of up to 161%… all of it in four days or less. Learn more about how you can get in on the fun right here.
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| Guest Post: Was 2011 A Dud Or A Springboard For Gold? Posted: 09 Jan 2012 09:25 AM PST Submitted by Jeff Clark of Casey Research Was 2011 A Dud Or A Springboard For Gold? 2011 was remarkable in many ways for the precious metals markets. Gold soared to new highs in early September, hitting at an intraday record of $1,920/ounce on the fifth. Silver screamed to within a hair of $50 on April 28. Corrections ensued, and the metals ended the year on a disappointing note for silver and an underwhelming note for gold. Equities for the sector were down, to way down for junior ventures, logging their worst annual return since 2008. Here's a table of 2011 returns from most major asset classes:
(Click on image to enlarge) Gold registered its eleventh consecutive annual gain, extending the bull market that began in 2001. The yellow metal gained 10.1% – a solid return, though moderate when compared to previous years. Silver lost almost 10% year over year, due primarily to its dual nature. Currency concerns lit a match under the price early in the year, while global economic concerns forced it to give it all back later. Gold mining stocks couldn't shake the need for antidepressants most of the year, and another correction in gold in December dragged them further down. Meanwhile, those who sat in US government debt in 2011 were handsomely rewarded, with Treasury bonds recording one of their biggest annual gains. In spite of the unparalleled downgrade of the country's AAA credit rating, Treasuries were one of the best-performing asset classes of the year. The driving forces there are expanding fear about the sovereign debt crisis in Europe, combined with the Fed's promise to keep interest rates low through 2013. But perhaps it would be more accurate to look at 2011 in a larger context. How did these investments perform over the past three years?
(Click on image to enlarge) There's a lot to be said about the chart above, but we'll cut to the chase: Despite the higher volatility, we'd much rather be investing in the assets on the left side of the chart than those on the right. But 2011 is now part of the history books. The important question before us is: Is gold still one of the best places for money going forward? Let's take a look at what we might expect in 2012 based on what we just left behind… The Fundamental Case for Gold Remains Rock Solid Gold demand from investment and central banks grew tremendously last year. Further, the geography of gold buying was widespread, with big purchases coming from Europe during the initial bouts of their crisis and Japan after the Fukushima accident. Small investors and monetary authorities alike purchased gold due to economic, financial, monetary, and political concerns. Quite frankly, we see none of these factors changing anytime soon. Further, many countries continue to debase their currencies at phenomenal rates (see Bud Conrad's related article below). While US Treasuries may be a good temporary parking spot for cash, don't kid yourself about what's behind it all: nothing. The dollar is a fiat currency, no more. A true safe haven is something that cannot be debased, devalued, or destroyed by any government. After accounting for inflation, your dollars are worth less every year. The reasons for gold's bull market aren't going away anytime soon. Make sure you have enough exposure to make a material difference to your portfolio. Don't Be Deceived by Promises of Economic Growth The US economy ended the year on a high note – the job market is improving, gas is cheaper, consumer confidence grew, real estate showed signs of recovery, and the holiday shopping season turned out better than most economists expected. So, can the US grow its way out of the debt burden? Can we forget about further money printing schemes that are bullish for gold? We think there's little chance that growth will be sustainable in 2012. First, the biggest chunk of GDP growth in 2011 came from personal consumption – savings cuts and income growth in particular.
(Click on image to enlarge) Strong GDP growth comes from production, not consumption. As Doug Casey has stated many times, it's also the secret to personal wealth: "Produce more than you consume and save and invest the difference." Second, according to a recent Time article, "The government says that once you adjust for inflation, weekly earnings dropped 1.8% from November 2010 to last month" [November 2011]. As a result, "Consumers have used savings or credit cards to finance their purchases." This is hardly a sign of a strong economy. Combining these facts with surging government debt and ongoing deficit spending means the "growth" in GDP is largely supported by… debt. US debt surpassed GDP last year for the first time since 1947, and if the Keynesians get their way, the cure for our massive debt overhang will be… more debt. Any such scheme, regardless of its name, is very bullish for gold. Preserve your wealth with gold, not fiat currency. The Gold Price Will Continue To Be Volatile The average annual gold price in 2011 was $1,571.50/ounce, which was 28% higher than the prior year's average. As we outlined in a recent article about gold corrections, the average retreat in gold since 2001 (of those greater than 5%) is 12.5%. Declines of this degree are normal. They will happen again. Thus, expected price behavior leads us to get excited when gold and related stocks go on sale, not depressed about the dips. If you buy gold during corrections, your gain by the end of the year will be higher than the annual advance. Gold Equities Are (Still) Dirt Cheap Yes, precious metals stocks have lagged the underlying commodity price throughout the year. Yes, they were a disappointment in 2011 – but 2011 is only one chapter in this gold bull-market story. For most miners, margins are high, dividends are increasing, and valuations are extremely low, despite the recent fall in metal prices. We can't tell you exactly when the turnaround will begin, but we're confident that the time is coming when gold stocks will once again bring us leveraged performance, particularly when the greater investment community recognizes their value and clamors for increased exposure to the gold market. The old adage to buy low and sell high still applies. When it comes to gold stocks, we're at the "buy low" part of the formula right now. So, if you're feeling like 2011 was a dud for your gold portfolio, we suggest you shake off the funk. It is precisely when such feelings abound that contrarian buying opportunities are at their best. The way to buy low is to buy when others are selling. Using the current weakness in prices to get positioned for the next liftoff is the way to play this. Remember that volatility cuts both ways: just like dips, a springboard to the upside will come – of that we're certain. And given the tenuous state of global finances and the temptation to print, one of these liftoffs is going to be life-changing.
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| U.S. Gold's McEwen expects investment mania in precious metals Posted: 09 Jan 2012 09:20 AM PST 5:20p ET Monday, January 9, 2012 Dear Friend of GATA and Gold (and Silver): Mining entrepreneur Rob McEwen sure doesn't sound discouraged in his interview with King World News today. McEwen, founder of gold monster Goldcorp and now CEO of U.S. Gold, says money printing will carry the precious metals into an investment mania. An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/1/9_McE... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Golden Phoenix Receives Inferred Gold Resource Estimate Company Press Release Golden Phoenix Minerals Inc. (OTC: GPXM) reports that on behalf of Golden Phoenix Panama S.A., the joint venture entity that owns and operates the Santa Rosa gold mine in Panama, it has received from SRK Consulting (U.S.) an initial resource estimate for Mina Santa Rosa. The Santa Rosa project is a volcanic-hosted epithermal gold-silver deposit previously operated as an open pit-heap leach operation. Production ceased in 1999 in part because of low gold prices. SRK Consulting reports an in-situ inferred resource at the former Santa Rosa and ADLM pits totaling 23.1 million metric tonnes at 0.90 grams/tonne gold, for a contained 669,000 ounces of gold at a 0.30 g/t gold cutoff. The resource also contains an average grade of 2.87 g/t silver for a contained 2.1 million ounces of silver. John Bolanos, Golden Phoenix's vice president of exploration, remarks: "In addition to SRK's inferred resource estimate of 669,000 contained ounces of For the company's full statement, including a table detailing the resources at Santa Rose, please visit: http://goldenphoenix.us/press-release/golden-phoenix-receives-initial-ni... Join GATA here: Vancouver Resource Investment Conference http://cambridgehouse.com/conference-details/vancouver-resource-investme... California Investment Conference http://cambridgehouse.com/conference-details/california-investment-confe... Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit:
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| Michigan radio host Dave Janda interviews GATA Chairman Murphy Posted: 09 Jan 2012 09:11 AM PST 5:10p ET Monday, January 9, 2012 Dear Friend of GATA and Gold: Radio talk show host Dave Janda of WAAM-AM1600 in Ann Arbor, Michigan, interviewed GATA Chairman Bill Murphy for 26 minutes yesterday and you can listen to it at Janda's Internet site here: http://www.davejanda.com/audio/BillMurphy010812.mp3 CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Golden Phoenix Completes Operating Agreement Golden Phoenix Minerals Inc. (GPXM) has entered a joint venture operating agreement with Silver Global S.A., a Panamanian corporation, governing the operational and management aspects of their new joint venture company, Golden Phoenix Panama S.A., a Panamanian corporation formed to hold and operate the Santa Rosa gold mine in Canazas, Panama, and explore the mine's adjacent property. Golden Phoenix will be manager of the joint venture company. Silver Global will handle all social programs, political and community relations, and human resource matters for the joint venture company in Panama. Golden Phoenix and Silver Global also have agreed to work together on all future acquisitions within Panama and to bring such new opportunities to the joint venture company. Golden Phoenix will be earning in to a 60 percent interest (and potentially an 80 percent interest) in the Santa Rosa mine. Upon signing the joint venture agreement and completing the corresponding acquisition payment, Golden Phoenix will earn an initial 15 percent interest in the joint venture company. Tom Klein, CEO of Golden Phoenix, says the agreement "creates a solid foundation for the development and planned re-opening of Mina Santa Rosa." For Golden Phoenix's full statement on the joint venture operating agreement, please visit: http://goldenphoenix.us/press-release/golden-phoenix-completes-joint-ven... Join GATA here: Vancouver Resource Investment Conference http://cambridgehouse.com/conference-details/vancouver-resource-investme... California Investment Conference http://cambridgehouse.com/conference-details/california-investment-confe... Support GATA by purchasing gold and silver commemorative coins: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Sonora Aims to Follow First Majestic's Success Sonora Resources (OTCBB: SURE) is a silver mining exploration company focused on the development of prospective opportunities in Mexico. The company president and CEO is Juan Miguel Rios Gutierrez, who helped build First Majestic Silver Corp., which began trading for pennies and today is at more than $16 per share. Gutierrez was the fourth person to join First Majestic Silver, originally as general manager, then manager for new business initiatives and strategic planning. He left First Majestic Silver to work with Sonora Resources and yet maintains strong contacts with First Majestic. In fact, First Majestic is a large shareholder in Sonora and has a joint venture with the company. For more information about Sonora Resources, please visit: http://www.SonoraResources.com
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Do you own gold and silver mining stocks? Or any stocks for that matter? Even if you say, "yes", chances are you don't really own them.
How should people prepare for the difficult years that are coming? I get asked about that a lot. Once people really examine the facts, it is not too hard to convince them that an economic collapse is coming. But once they accept that reality, most of them want to know what they can do to prepare themselves and their families for the hard times that are ahead. Well, the truth is that it does not have to be complicated. Many of the things discussed throughout this article are things that most of us should be doing anyway. Now is not the time to be splurging on luxuries or expensive vacations. Now is not the time to be going into large amounts of debt. Instead, we all need to get back to the basics and we all need to do what we can to become more independent of the system. Just remember what happened back in 2008. Millions of Americans lost their jobs and millions of Americans lost their homes. Now experts all over the globe are warning that another great financial crisis that could be just as bad as 2008 (or even worse) is coming. Those that don't take the time to prepare this time are not going to have any excuse.
I'm in my office tonight. I have several things to discuss with you but this also gives me the opportunity to keep tabs on the LSU/Alabama game as Mrs F and the LTs have monopolized the other monitors in the Ferguson household. As I type, the game is about to kickoff. I'll say: LSU 14 Bama 13.
For the truly snarky, the latest coming sign of economic apocalypse comes from th old haven of secrecy and banking Switzerland. The Swiss National Bank, long known for maintaining a currency "as good as gold," was recently challenged for pledging to print as many Swiss francs as possible to maintain a steady decline with the plunging euro. But the latest act in the alpine soap opera involved former central banker Phillip Hildebrand and his wife—who sleazily traded foreign exchange for profit-making purposes—while her husband was supposed to be top man at Switzerland's central bank. The whole thing reeks of insider trading at the highest echelons of central banking.
Gold is starting the new week around where it ended the previous one. The bid as of this writing is $1,612. But the buzz this morning is about what the hedge fund giants are doing.
"We don't think gold is going to go up this year," Bill Bonner ventured on Friday. "It's been up every year for the past 11 years — the most-durable bull market in recent history."
One of the factors that might well prop up gold this year is central bank buying — a factor cited this morning by both Goldman Sachs and Deutsche Bank.
"What precisely are governments and central banks seeking to protect with their gold holdings and acquisitions?" asks 
Gold stocks are going nowhere this morning. The HUI index sits a hair below 520… still on the low end of the trading range where it's been mired since October 2010.
The above chart jives perfectly with research we've been doing on our own: We've uncovered an anomaly within the gold market that's occurred only four times in the last 33 years. The smallest gain this anomaly has delivered is 74%. But it's also generated as much as 219%.
Major U.S. stock indexes are flat to slightly down. If traders are eyeing anything this morning, it's Europe… but even that can't ramp up any excitement.
The soothing words from Europe have firmed the euro slightly, to $1.274. The dollar index is off slightly, to 81.2.
Don't look for the European Central Bank to cut interest rates again this week, suggests EverBank's currency maven Chuck Butler.
"The EU is about to host the biggest yard sale we've ever seen," says Chris Mayer, looking for opportunities among the wreckage.
Mamas, don't let your babies grow up to be… architects?
"Here is another way," writes a Reserve member, "to look at our unemployment rate and our 'progress' in reducing it."
"Again," a reader laments after reading Friday's account of how the holders of mortgage bonds might get stuck with the bill for bankers' misdeeds, "the government is using coercion/intimidation/blackmail to fornicate bondholders?"
"I read your daily email," writes a reader who says he hails from a South Pacific nation, "and have been following the discussion on the National Defense Authorization Act with interest."
"That pathetic so-called TV show on Fox, The Five, is, without doubt, the worst example of a talk show I have ever seen. I cannot sit through even 10 minutes of it without having heart palpitations."
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