Gold World News Flash |
- There Will Be A Run On Gold Stored In The US
- John Williams - Gold, Silver, Economy & Inflation
- Manson Creek Corporate Presentation for 2012 – Going for the Kill Zones
- US Gold + Minera Andes = McEwen Mining
- Gold Seeker Closing Report: Gold and Silver End Mixed and Near Unchanged
- Print-Or-Panic, TrimTabs On The Market's Meltup
- G4T 2012 Update & the 100 Million Dollar Question
- Rates now negative on inflation-protected and regular Treasuries
- Sprott bearish on base metals, positive on gold and oil
- Sinclair expects European gold to be repatriated from Fed
- Greece and a Report on the PSI / IMFGlobal / Bank of America Earnings Farce
- The Real Keystone Decision
- Return to The Gold Standard - Ted Anderson of Midas Resources
- Gold Price Closed at $1,654.10 Does the Five Day Chart Suggest a Slide Back Toward $1,605?
- Higher Taxes to Appease the Zombies
- Gold Reaches Trendline Resistance
- "A Longer-Term Perspective On Gold" And More, From Nomura
- Jim Sinclair: There Will Be a Run on Gold Stored in the US
- Money Insider: US Will See Violent Civil Unrest In 2012
- BBC Admits Anglosphere Destabilized Libya
- Market Meltdown Warning: Institutional Investors Are Offloading Stocks to Retail Buyers (That’s Us)
- Derisking Gold Juniors, Step by Step
- The End Is Near, Embry Warns Gold Price Riggers
- Eye on U.S. Dollar vs Commodity Index
- Silver Shortages And Gold To Accelerate Higher
- Gold Daily and Silver Weekly Charts
- LGMR: "Key Pillars" of Gold Bull Market "Intact" as Euro Banks "Rely on ECB", Chinese Gold Saving Accounts Top 2.3 Million
- Getting out of Dodge
- Jim's Mailbox
- Uranium Miners Break Through Critical 200 Day Moving Average To The Upside
| There Will Be A Run On Gold Stored In The US Posted: 19 Jan 2012 05:38 PM PST Dear CIGAs, Click here to listen to the full audio interview on KingWorldNews.com With gold remaining firm above $1,650, today King World News interviewed legendary Jim Sinclair, to get his take on where things are headed. Sinclair surprised KWN by telling us there would be a run, by European countries, on the gold they Continue reading There Will Be A Run On Gold Stored In The US
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| John Williams - Gold, Silver, Economy & Inflation Posted: 19 Jan 2012 04:45 PM PST  Mainstream media has been bombarding people with conflicting reports about what is happening in the economy and inflation, so KWN wanted to let its readers know what is really happening. For that we turned to John Williams, of Shadowstats, who summed up the economic and inflation situation beautifully in his latest commentary. He also related inflation data to future possibilities with regards to gold and silver pricing: "Although the Bureau of Economic Analysis (BEA) reports that general business activity in the United States has recovered its pre-recession levels, no major independent economic series confirms that circumstance. Only the BEA's overstated and heavily-politicized gross domestic product (GDP) measure makes that claim."
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| Manson Creek Corporate Presentation for 2012 – Going for the Kill Zones Posted: 19 Jan 2012 04:34 PM PST Manson Creek Resources (TSX:MCK.V) has posted its new corporate presentation for 2012 on their web site, likely in preparation for the winter conference season. Their focus is, as one might expect, on the Tell property and the seven undrilled natural spring gossans and related vegetation kill zones identified there in the Yukon. According to MCK, the Tell gossan, located immediately south of ATAC's Rau block, has never been drill tested, but early testing has found up to 4.95% zinc in soils. Base metals in soils at a very similar gossan/kill zone was one of the pathfinder elements which led to ATAC's nearby discovery of the Ocelot zone. Manson Creek says that there are "significant lead and various pathfinder elements present for gold." A 2,000m drill program is being planned for the 2012 season in addition to other early stage work. – More in the presentation at the link below. Shares of MCK.V closed at C $0.065 Thursday, January 19. Disclosure: Manson Creek Resources is a Vulture Bargain Candidate of Interest (VBCI) and one of the issues we have dubbed a Cheapie with a Chance (CWC). Members of the GGR team hold long positions in MCK.V or MCKRF.
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| US Gold + Minera Andes = McEwen Mining Posted: 19 Jan 2012 04:05 PM PST Today I attended the special meeting for US Gold and Minera Andes. Us Gold meeting took place first at 4pm where the 5 proposals were reviewed and presented, all passed with 95% support. During the Minera Andes side of the meeting it passed with about high 80% support. Rob passed the chair of the meeting role over to legal to avoid conflict of interest. One interesting point in the 5 US gold proposals was a restriction of repricing options with shareholder approval, you don't see that much these days. Shows a sense of integrity from my perspective. There was is also a proposal to allow them to move go from 250 million shares to 500 million shares which passed. The new name is McEwen Mining as expected and is expected to be reflected on the exchanges by the end of January. Of course the interesting part was Rob's presentation, which was somewhat deeper than past presentations, after the formal meeting and discussions after that were more insightful, see below. In his presentation he touched on the ETF's and compared them to people that get into mutual funds and then edge into stocks and see's people that are comfortable with ETF's moving into mining stocks. He presented a slide that showed the inconsistency of the major gold miners share price vs production increases vs the gold price increases. Making it harder for shareholders to make sense of the mining stocks. There was an update by Jim, head of exploration at Minera Andes who highlighted the Los Azules Titan 24 target. He highlighted the significant grades over 269m of copper at .5%. On the map showing Titan 24 southwest of the main deposit he indicates that it is very significant in size and the planned open pit would easily allow them to extend the pit into this area. They are planning more step out drilling from Titan 24. Ian and Stefan presented an update on Mexico and Nevada, nothing new but progressing along. Ian noted there will be resource updates around Q2 from the significant drill program that has completed near El Gallo. At the end of the meeting Rob announced he was doing his part for quantitative easing, he asked everyone to remain seated while his staff handed out a Zimbabwe 100 trillion dollar note, a nice touch. TNR update I was talking to some staff afterwards and asked about the TNR proposed settlement of $125 million, to which he commented that if they really wanted to make an impact they would have announced it a few hours before the special meeting. I personally see the settlement offer as a sign of weakness on TNR's part. This person and Rob noted that they need to go before the Alberta courts tomorrow to ratify the final agreement. When asked why this was required he noted that its technically a hearing that any MAI shareholder could come forward at this hearing. Of course it's also possible TNR would show up. Casual Discussions on San Jose I asked one of there VP's about the fact that Minera Andes had received agreement by Hochschild to almost double exploration and whether Rob helped move this along. He noted that Rob had met the head of Hochschild and convinced him that increasing the exploration budget was a good move to increase value in both firms. Hoshschild has agreed to increase the drill program in 2012 at San Jose from around 50,000 m to 93,000 m. It should be noted that Hochschild is majority controlled by the Hochschild family at 51% and they would likely never give up control. Hence they would need to be careful on raising money to not dilute their stake. Also this would make any takeovers tricky to protect their majority control. This builds a strong case to increase exploration in order to raise the value of both firms. It was also noted that Hochschild notified Minera Andes yesterday that they were putting out a press release with some interesting results. McEwen Mining's people were caught a bit off guard and haven't seen the raw data yet so time will tell how these results pan out. It should be noted that Hochschild doesn't have to follow the same rules that McEwen Mining does with regard to 43-401. See here for the reference press release. If you look up the San Jose results in this press release you'll note most of the grades are significant but are over short ranges of a 1 – 3 meters. There is one particular entry that the VP noted that showed 26g/t gold and almost 1000 g/t of silver over 22 meters! I looked up the reference from the press release here, "SJD988 21.8m at 26.24 g/t Au & 922 g/t Ag". Needless to say it would seem there is still great potential at San Jose for some time to come. It was also noted that Goldcorp is grabbing every explorer and miner for their Cerro property making it very hard to find people. The merger of US Gold and Minera Andes allows US Gold's Mexico team to be used for new exploration targets in Argentina and avoid the resource crunch. It was also pointed out in Minera Andes Q4 numbers yesterday, see here, that a 20,000 m exploration plan was defined for 2012 on Minera's 100% owned properties. I asked what area's the plan will target? Below I've shown a red circle where it was indicated was a focus for drilling.  On the topic of Los Azules it was noted that exploration copper plays seem to either be valued very low or high, nothing in between. This would seem to imply more development will be done at Los Azules to increase the value. I've always assumed that at the right moment Rob would use funds from a spinout of the copper play to further develop the silver plays, time will tell.
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| Gold Seeker Closing Report: Gold and Silver End Mixed and Near Unchanged Posted: 19 Jan 2012 04:00 PM PST Gold climbed to $1669.85 in Asia before it fell back to $1649.21 by early afternoon in New York, but it then bounced back higher in late trade and ended with a loss of just 0.26%. Silver rose to $30.88 in London before it fell back to $30.34, but it also bounced back higher in late trade and ended with a gain of 0.2%.
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| Print-Or-Panic, TrimTabs On The Market's Meltup Posted: 19 Jan 2012 03:55 PM PST As retail investors continue to appear significantly pessimistic in their fund outflows ($7.1bn from US equity mutual funds in w/e January 4th - the largest since the meltdown in early August) or simply stuff their mattresses, David Santschi of TrimTabs asks the question, 'who is pumping up stock prices?' His answer is noteworthy as a large number of indicators suggest institutional investors are more optimistic than at any time since the 'waterfall' decline in the summer of 2011. Citing short interest declines, options-based gauges, hedge fund and global asset allocator sentiment surveys, and the huge variation between intraday 'cash' and overnight 'futures market' gains (the latter responsible for far more of the gains), the bespectacled Bay-Area believer strongly suggests the institutional bias is based on huge expectations that the Fed will announce another round of money printing (to stave off the panic possibilities in an election year). The ability to maintain the rampfest that risk assets in general have been on (and the cash-for-trash short squeeze that has been so evident) must be questioned given his concluding remarks.
While we fully expect QE to come, we can't help but question the willingness to meet market expectations so head on (remember when the Fed used to like to surprise) but with ever blunter (and seemingly weaker) tools, what more can they do - leaving a market (and note here we did not say economy as that is clearly not benefiting) that needs exponentially more 'juice' (EUR10tn LTRO?) just to keep from the post-medicinal crash.
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| G4T 2012 Update & the 100 Million Dollar Question Posted: 19 Jan 2012 03:29 PM PST  
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| Rates now negative on inflation-protected and regular Treasuries Posted: 19 Jan 2012 03:24 PM PST Investors Seek Safety of U.S. Treasuries By Michael Mackenzie http://www.ft.com/intl/cms/s/0/ad85b014-42b5-11e1-97b1-00144feab49a.html Investors bought inflation-protected Treasury securities at a negative interest rate for the first time on Thursday, demonstrating the depth of concerns that Federal Reserve efforts to stimulate the economy could lead to higher inflation in the future. The $15 billion in Treasury inflation protected securities, or Tips, were sold at a negative yield of about 0.046 per cent. Investors could still make money on their holdings because the principal of such securities increases if inflation rises. Bill O'Donnell, strategist at RBS Securities, said that investors were accepting "a short-term cost for a potential long-term gain." Treasury securities of all kinds are finding favour as a haven as investors flee the market turmoil in the eurozone. ... Dispatch continues below ... ADVERTISEMENT Be Part of a Chance to Discover 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. Investors are turning to Tips as the real returns on fixed-rate Treasuries also have turned negative, meaning the yields are less than the current rate of inflation. Investors are buying 10-year Treasury notes with a yield of 1.99 per cent. Meanwhile, consumer price data released on Thursday showed that US core inflation, which excludes food and energy, for the year ending in December, advanced 2.2 per cent, its fastest pace of growth in four years. The consumer price index was flat for the second successive month. The low yields on Treasury securities reflect the impact of Federal Reserve's Operation Twist programme, under which it buys longer-dated bonds, with the hope of pushing down long-term interest rates and thereby stimulating economic growth. US jobless claims dropped by 50,000 to 352,000 in the week ending January 14, the lowest level since April 2008, the Labour Department said. "The big gorilla in the room is the Fed," Mr O'Donnell said. "They are buying up a lot of debt." 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 a silver commemorative coin: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT 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...
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| Sprott bearish on base metals, positive on gold and oil Posted: 19 Jan 2012 03:15 PM PST By Frank Tang http://www.reuters.com/article/2012/01/19/us-precious-sprott-idUSTRE80I1... Prominent Canadian fund manager Eric Sprott said on Wednesday he was bearish on cyclical commodities such as industrial metals because of the economic slowdown, though he remained positive on gold and crude oil. Sprott, a long-time gold bull who last week filed to launch a platinum and palladium product allowing investors to redeem the physical metals, said he expects that business to grow in the wake of MF Global's collapse. "I am not bullish on cyclical commodities such as iron ore, coal, steel, lead, and zinc because I am worried about this economic contraction that everybody is talking about," Sprott told Reuters in a phone interview from his Toronto office. ... Dispatch continues below ... 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 He expects gold to hit a record above $2,000 an ounce this year, with silver also rallying to an all-time high at more than $50 an ounce. On Wednesday, gold traded at $1,660 an ounce and silver at $30.50. Sprott, whose parent company Sprott Inc. manages around C$9 billion in assets, has been bearish on cyclical commodities since the 2008 global economic crisis and has maintained the gold and silver forecasts throughout last year. "I think there is more upside to the gold-mining stocks. Last year the stocks were absolutely crushed when the price of gold went down. But when gold goes back up, the stocks will provide a better return." Bullion lost 10 percent in December and briefly entered a bear market, as it struggled to regain its safe-haven appeal even though investors questioned the viability of the euro. Year to date, spot gold was up 6 percent, largely tracking equity markets' gains. It posted a 10 percent gain in 2011 that sealed its 11th consecutive year of gains. Sprott cited strong physical gold demand, indicated by encouraging imports by China and Turkey late last year. In addition, he was positive on the outlook of the energy market because of relatively inelastic demand and depleting output. "It's getting tougher and more expensive all the time to produce energy. I think that's a pretty good foundation for the oil prices hanging in there." Last Friday, Sprott filed regulatory papers for a planned launch of a physical platinum and palladium trust initially worth $115 million on the New York Stock Exchange and the Toronto Stock Exchange. The firm already runs two physical gold (PHYu.TO) and silver (PHSu.TO) trusts. Investors in Sprott's funds have the option to redeem physical metals, something that not all ETFs offer. "A lot of people thought they owned gold and silver before MF Global went bankrupt. And all of a sudden they found out that they didn't own anything at all," he said. "We like people who own the units to know that they have the ability of getting the physical gold and silver." Sprott said investors rarely redeem physical metals, but that could change if economic conditions worsen. "In certain circumstances, we could see a lot of redemption. I am talking about financial meltdown circumstances. So, hypothetically it could happen," he said. 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 Coal (TSX: PCY) Wins Positive Feasibility Study Company Press Release VANCOUVER, British Columbia, Canada -- Prophecy Coal Corp. (TSX: PCY, OTCQX: PRPCF, Frankfurt: 1P2) has received a positive feasibility study for the company's 600-megawatt Chandgana Mine-Mouth Power Project in central Mongolia. The report was independently prepared by Ralf Thomsen, project manager at Steag, a German firm specializing in the planning, financing, construction, and operation of highly efficient thermal power plants for fossil fuels. The study covers technical specifications, deployment, and financial analysis of a 4x150-mw thermal power plant to be built adjacent to Prophecy's Chandgana Tal coal deposit, which contains 140 million tonnes of measured coal. Last year the power plant received a construction license and the coal deposit received a mining license. Engineering, procurement, and construction management selection and project financing discussion have begun and are expected to be concluded this year. Construction is planned to start in April 2013, with the first 150-mw unit being commissioned in October 2015 and subsequent units to start in April 2016, October 2016, and April 2017. With proper maintenance the project will have 30 years of commercial operation. For the complete statement from the company, including maps and charts, please visit: http://www.prophecycoal.com/news_2011_jan17_prophecy_receives_power_plan...
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| Sinclair expects European gold to be repatriated from Fed Posted: 19 Jan 2012 02:41 PM PST 7:40p PT Thursday, January 19, 2012 Dear Friend of GATA and Gold: Mining entrepreneur and market analyst Jim Sinclair tells King World News today that there likely will be much repatriation of European gold reserves held in custody at the Federal Reserve Bank of New York. Sinclair expects that there will be attempts to discourage repatriation but he doesn't expect the Fed to refuse. An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/1/19_Ji... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Be Part of a Chance to Discover 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.
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 a silver commemorative coin: https://www.amsterdamgold.eu/gata/index.asp?BiD=12 Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Or a video disc of GATA's 2005 Gold Rush 21 conference in the Yukon: Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT 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...
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| Greece and a Report on the PSI / IMFGlobal / Bank of America Earnings Farce Posted: 19 Jan 2012 11:50 AM PST by Harvey Organ: Good evening Ladies and Gentlemen: Gold closed down today to the tune of $5.40 dollars finishing the comex session at $1654.10 Silver finished down 4 cents to $30.48. Today the raid was a no brainer on behalf of the bankers as we witnessed a huge run up in open interest and that is fodder for these crooks. Gold bounced off the $1650 price level four times today. The weak gold and silver shares today probably foreshadows another raid. Let us head over to the comex and assess trading, open interest positions, inventory movements and amounts of metal standing. The total comex gold open interest rose by 5552 contracts to rest tonight at 438,390. Please remember that we are always 24 hours back with respect to OI so in reality the closing figure of 438,390 OI is in reality the official OI for yesterday. The front options expiry month of January saw its OI fall from 31 to 16 for a loss of 15 contracts. We had 7 delivery notices filed yesterday so we lost 8 contracts or 800 oz to cash settlements. The next big delivery month is February as first day notice is less than 2 weeks away. Here the OI fell by 4000 contracts to 160,113 contracts. The estimated volume at the comex today was very weak coming in at 145,097. The confirmed volume yesterday was a touch better at 186,277 despite many rollovers on both days. Read More @ HarveyOrgan.Blogspot.com
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| Posted: 19 Jan 2012 11:48 AM PST January 19, 2012 [LIST] [*]Is that your final answer? Byron King on the real Keystone XL pipeline decision [*]S&P surpasses 1,300: Why Greg Guenthner isn’t celebrating yet [*]How the latest mutual fund inflow data point to a looming opportunity [*]Dan Amoss on why QE3 is inevitable, no matter what name it goes by [*]Pointless memos littering the floor of the NYSE... a different take on the college fund cutbacks... the dollar as the ultimate undoing of corrupt politicians... and more! [/LIST] “Once more unto the breach, dear friends, once more.” This might be a 5 first, invoking Shakespeare to set the tone for our daily missive... but the passage from Henry V, Act 3 is what Byron King cites in an email summing up the White House’s rejection of the Keystone XL pipeline. As we went to virtual press yesterday, the Obama administration scotched plans to extend the existing Keystone pipeline, connecting the Alberta oil sands to the U.S. Gulf...
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| Return to The Gold Standard - Ted Anderson of Midas Resources Posted: 19 Jan 2012 11:13 AM PST Ted Anderson, Owner of GCN and Midas Resources... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]] 
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| Gold Price Closed at $1,654.10 Does the Five Day Chart Suggest a Slide Back Toward $1,605? Posted: 19 Jan 2012 10:38 AM PST Gold Price Close Today : 1654.10 Change : (5.40) or -0.3% Silver Price Close Today : 3048.20 Change : -3.2 cents or -0.1% Gold Silver Ratio Today : 54.265 Change : -0.120 or -0.2% Silver Gold Ratio Today : 0.01843 Change : 0.000041 or 0.2% Platinum Price Close Today : 1518.50 Change : -6.00 or -0.4% Palladium Price Close Today : 676.50 Change : 7.60 or 1.1% S&P 500 : 1,314.50 Change : 6.64 or 0.5% Dow In GOLD$ : $157.77 Change : $ 1.09 or 0.7% Dow in GOLD oz : 7.632 Change : 0.053 or 0.7% Dow in SILVER oz : 414.15 Change : 1.91 or 0.5% Dow Industrial : 12,623.98 Change : 45.03 or 0.4% US Dollar Index : 80.05 Change : -0.560 or -0.7% Both the GOLD PRICE and the SILVER PRICE performed badly today. GOLD fell $5.40 to close comes at $1,654.10. That wasn't what left the burr under my saddle, though. It was a new high for the move at $1,669.92 followed by a lower close. That's the first part of a key reversal, and will be confirmed if gold closes lower again tomorrow. An ominous double top (at $1,670) dominates the 5-day GOLD PRICE chart. A break through $1,645 puts gold on a slide back toward $1,605. The SILVER PRICE lost only 3.2c, but again posted a possible key reversal. Reached a new high for the move, 3087c, but then closed lower at 3048.2. 5-day chart looks worse, with a formation that is not quite but almost an island reversal. From here SILVER would have to hold on at 3040c to continue rising. Otherwise, we're looking at another trip to 2980c. I've been thinking about the Dow in Gold Dollars and the Dow in Silver Ounces. Both have been rising , silver since its April highs and gold since gold's August high. (Remember, the DiG$ or DiSoz RISE when silver or gold are outrunning stocks and fall when metals are lagging stocks). Dig's looks like it has topped, but is above the 200 DMA and might still run to G$170 (8.224 oz of gold). DiSoz must turn around soon from its present 415 oz or will climb toward resistance at 500 oz. What does this imply? That stocks may be about to outperform silver and gold for a while. Gold's turning back at $1,670 (assuming it follows through downward tomorrow) also sets both metals up for a test of the December lows. Get ready to buy. Big news today was the Dow poking its head through 12,600 to close at 12,623.98, up 45.03 or 0.36%. Likewise the S&P500 rose 6.64 (0.5%) to close at 1,314.50. A reader pointed out to me yesterday that I might be missing an upside down head and shoulders in stocks, and he may be right. However, if stocks rally above this level, it will be a trap for bulls that will collapse to their grief within short months. Other big news came from the euro, which made good its escape through the downtrend line and cleared the 20 day moving average (1.2898) today to close at 1.2965, up 0.84%. Assuming it closes above the downtrend line tomorrow, the euro will have a minimum target of 1.325. This doesn't represent any underlying strength or reform, only a technical reaction to the long fall from 142.47 in October. Euro still stinks worse even than the US dollar. The US dollar index fell 56 basis points (0.72%). Recall that 60% of the dollar index' value is determined by the euro. Now trading at 80.05, barely above 80. That certainly cracks the uptrend line, and leads to conclusion the dollar will fall at least to its 50 DMA at 79.32. Japanese Yen lost 0.4% to 129.71c/Y100 (Y77.10/US$1). 'Twas a nasty fall, punching through but not staying below the 20 DMA (129.46). 50 DMA isn't far away at 129.13. Should the Yen close blow that, well, it's headed for 128 again. 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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| Higher Taxes to Appease the Zombies Posted: 19 Jan 2012 10:30 AM PST Bill Bonner View the original article. January 19, 2012 02:00 PM Dow up 96 yesterday. Gold up $4. Oil above $100. Nothing special to report, in other words. Mitt Romney has revealed his effective tax rate. "About 15%," he says. That seems like more than enough to us. But it's not enough to satisfy the zombies. Romney has made a lot of money. They want more of it. It turns out that 15% is lower than average. The AP reports: At 15 percent, Romney's federal income tax rate would still be higher than the rate paid by many Americans. On average, households making between $50,000 and $75,000 will pay a federal income tax rate of 5.7 percent this year, according to projections by the Tax Policy Center, a Washington think tank. However, when Social Security and other taxes are included, that same household would pay an average federal tax rate of 16.6 percent. Overall, the average American household will pay 9.3 percent in federal income taxes — and 19.7 percent in all federal taxes. ...
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| Gold Reaches Trendline Resistance Posted: 19 Jan 2012 10:30 AM PST courtesy of DailyFX.com January 19, 2012 02:30 PM Daily Bars Prepared by Jamie Saettele, CMT Gold carved out an inside day at its 2nd standard deviation band yesterday, warning of a reversal. Price traded to a new high today but closed lower and still contends with the 50% retracement of the decline from the November high and trendline (off of September, November, and December highs). A drop below 1625 would confirm a reversal. Bottom Line – short against 1680, target new lows...
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| "A Longer-Term Perspective On Gold" And More, From Nomura Posted: 19 Jan 2012 10:30 AM PST While lately not much, if anything, has changed in our and the broader secular outlook on gold, which has been and continues to remain the only currency equivalent that isolates devaluation risk, and excludes counterparty risk while being an implicit bet on the stupidity of those in charge (the fact that various tenured "Ph.D. economists" hate what it represents for their tenure prospects of course only makes the bullish case far stronger). True, in the past month it has surged from $1520 to $1660 but only Ph.D. economists (indeed, that 200 DMA proved to be a complete non-event) could not have foreseen that year end liquidations in a desperate drive to shore up liquidity (as explained here) by institutions, always end, and the reversion to the above thesis sooner or later reappears. So while it won't say much new, below we present Nomura's just released Gold Sector Initiation, which is a must read for new entrants to the field of physical and paper representations of gold, as well as a timely reminder for everyone else that in the past 3 years nothing has changed with the fundamental thesis, and in fact recent actions have merely reinforced it (and if we indeed have a €1 or €10 trillion LTRO, then watch all resistance levels in the metal get blown off). From Nomura: A longer-term perspective on gold Ineffective global governmental and central bank responses to the financial crisis of 2008 and the related sovereign debt crisis are causing investors to rethink some of the fundamental tenets of fiat currency systems. Associated with this, gold's historical position of importance has the potential to re-emerge, with many important consequences for gold demand. Gold has occupied a significant, yet constantly evolving place in the history of financial markets. Gold coins were first minted in ancient times, beginning gold's tradition as the ultimate store of value. The use of gold coins as a mainstream currency persisted until the 16th century when significant discoveries of silver in Latin America saw a dual system develop; with gold and silver competing for use in international and domestic trade. By the early 18th century gold had re-emerged as the de facto monetary standard when Britain set a gold/silver ratio that eventually relegated silver from significant use. By the end of the 19th century most industrial countries adhered to a gold standard. World War I and its associated pressures on government expenditures saw the gold standard end when major European countries halted the convertibility of their currencies into gold. The gold standard was generally restored in the post-war years; however, this return was short-lived, as leading economies once again suspended convertibility in order to devalue their currencies in response to the Great Depression. The US remained on a gold standard, although the 1934 Gold Reserve Act nationalised private gold holdings and devalued the gold dollar. The end of World War II saw the implementation of what came to be known as the Bretton Woods system, a two-tiered gold-exchange system where the US dollar was backed by gold and all other currencies were pegged to the dollar. This lasted until 1971 when a combination of short-term pressures alongside the rise of German and Japanese economic power caused US president Richard Nixon to end the gold standard.
It has only been since 1971 that the world has shifted to a sustained, full-faith, fiat currency system. Between 1980 and 2000 the gold price fell as economic prosperity and contained inflation expectations led private investors, institutional investors and central banks away from gold. The 2000s saw gold demand rebound as lower interest rates and strong growth from Asian economies started a bull market that is ongoing today. Nomura's Quantitative Research report, Why gold is cheap in Asia, dated 16 August 2011, on why Asian nominal income growth and not US CPI has been the driver of the gold bull market. It provides a crucial perspective shift in understanding that gold has become a global commodity with global demand drivers and has been heavily influenced by Asian economic growth. Gold has moved in and out of vogue many times over the past 100 years. Figure 6 provides perspective to the drop in gold prices that occurred at the end of 2011. A price correction was arguably overdue, especially in the context of the cyclicality of certain demand segments and the above-trend price increases in mid-2011. That said, our analysis suggests that the forces that have pushed gold up by 480% in the past 10 years are still in force and could well be exacerbated over the medium term. Gold price appreciation has increased exponentially since the market stabilisation following the initial impact of the 2008 financial crisis. Concerns around the stability of fiat monetary systems in conjunction with exceedingly high sovereign debt levels are leading investors to review alternative stores of value, increasing gold investment demand. Gold certainly has a long and well-established pedigree when placed in the context of its historical role in financial markets. We expect this re-emergence of gold as an asset class to persist over the medium term even as the world emerges from the sovereign debt crisis and continued shifts in the global economic landscape will see further shifts in reserve currency systems. This is likely to have important implications for the gold producers. Figure 8 shows global P/E multiples for gold equities remain remarkably constrained despite the shift in gold prices seen over the past 10 years.
The practical constraints of re-implementing a gold standard system after the financial innovations of the past 40 years make a return to a Bretton Woods type system unrealistic, especially when we consider the gold standard's lack of flexibility in implementing Keynesian or monetarist economic policies. However, it is important in the light of the current fragility of the world's financial system and the ongoing paradigm shift with regard to the value of fiat currencies, to analyse gold from a broader historical perspective. This time might not be different. In addition to the paradigm shift questioning faith in fiat currencies and longer-term shifts in world reserve currency systems; from a fundamental perspective, various longer-term trends are supportive of the gold price including:
Short-term volatility drivers The exogenous risks are likely to favour gold prices, as well, in the context of a limited response from near-term new mine supply. There are a number of factors that could cause gold to trade above our estimates in the short term. These include:
The speed of the changing fundamentals within various sub-segment demand categories will no doubt add volatility to the gold price. Current weakness in the Indian rupee has seen Indian gold imports fall sharply. Financial system deleveraging can place pressure on investment demand for gold, which tends to be a larger proportion of demand than for other commodities. Overall, our analysis suggests that the gold price remains well supported over the medium term, albeit with potentially high volatility from the demand perspective causing wide potential swings. For Nomura's forecasts on future gold prices, supply and demand trends, and what this means for gold equities, read the full 105 page report below.
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| Jim Sinclair: There Will Be a Run on Gold Stored in the US Posted: 19 Jan 2012 09:30 AM PST from King World News:
Jim Sinclair continues: Read More @ KingWorldNews.com
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| Money Insider: US Will See Violent Civil Unrest In 2012 Posted: 19 Jan 2012 09:02 AM PST Armed, irritated and vocal majority will react to worsening economic decline by Paul Joseph Watson, InfoWars.com:
Ortel, a managing partner with Newport Value Partners, LLC in New York City, predicts that a failure of the so-called financial recovery will precipitate "A painful re-calibration of economic strength and geo-political standing during 2012 in the midst of widespread civil insurrection and cross-border war." Noting that Americans' access to firearms will cause such riots to be bloodier than anything seen in Europe, Ortel predicts that a contented and silent Majority will be turned into "an irascible and vocal Majority," as a result of numerous macro-economic and geo-political threats facing the country, including the collapse of the euro, the bursting of the financial bubble in China, and the looming debt crisis, all of which will contribute to weak economic growth.
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| BBC Admits Anglosphere Destabilized Libya Posted: 19 Jan 2012 08:56 AM PST from The Daily Bell:
Inside story of the UK's secret mission to beat Gaddafi … British efforts to help topple Colonel Gaddafi were not limited to air strikes. On the ground − and on the quiet − special forces soldiers were blending in with rebel fighters. This is the previously untold account of the crucial part they played. The British campaign to overthrow Muammar Gaddafi's regime had its public face − with aircraft dropping bombs, or Royal Navy ships appearing in Libyan waters, but it also had a secret aspect … In the end, though, British special forces were deployed on the ground in order to help the UK's allies − the Libyan revolutionaries often called the National Transitional Council or NTC. Those with a knowledge of the programme insist "they did a tremendous job" and contributed to the final collapse of the Gaddafi regime.. – BBC Newsnight Dominant Social Theme: Well … we Brits did play a role in destabilizing Gaddafi, after all. We're admitting it now because success has many fathers, and we want to make sure we're one of them. We can't run an economy or sustain a world empire but we sure as heck can kill people, even top people, if we want to destabilize their regimes. Word up, eh! Free-Market Analysis: And thus the Brits crow … again. Or to put it more precisely, the Anglosphere power elite that is apparently behind much of this weary world's destruction and bloodshed.
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| Market Meltdown Warning: Institutional Investors Are Offloading Stocks to Retail Buyers (That’s Us) Posted: 19 Jan 2012 08:52 AM PST by Mac Slavo, SHTFPlan.com:
Earlier today we got our first clue that the smart money has stopped "distribution" and is now offloading to retail after we saw the first equity fund inflow, however tiny, in months, and only the second one out of 37 outflows since April, as reported by ICI. The second and far more important one comes from today's Goldman sales roundup, which confirmed that following today's latest borderline ridiculous meltup, retail investors looking for the sucker at the poker table, wouldn't be able to find one. Here's why. Quote Goldman: "As has been the recent trend, our cash flow remains better to sell, both from long-only and hedge funds." And there you have it: smart money (well, relatively so) has "recently" been using every melt up chance it gets to dump the bags with the E*Trade baby. Third and final proof: "ETF flow however skewed toward better buying." At this point retail investors may want to ask themselves: what do they know that the others, who are actively selling to them, don't.
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| Derisking Gold Juniors, Step by Step Posted: 19 Jan 2012 08:52 AM PST Richard (Rick) Mills Ahead of the Herd As a general rule, the most successful man in life is the man who has the best information Derisking Gold Juniors, Step by Step: Rick Mills Source: Sally Lowder of The Gold Report (1/18/12) If you're among the many who consider investing in the junior resource sector nothing more than a crapshoot, look into Ahead of the Herd Publisher Rick Mills' steps to derisk the inherently risky business of investing in junior resource companies. In this exclusive interview with The Gold Report, Mills not only spells out the steps involved in the derisking process, but also cites specific examples of juniors he especially likes and discusses the features that put them ahead of the herd. Companies Mentioned: Altair Ventures Inc. - Aurizon Mines Ltd. - Brigus Gold Corp. - Cangold Ltd. - Kootenay Gold Inc. - NioGold Mining Corp. - Terraco Gold Corp. - VMS Ventures Inc. The Gold Report: We have seen some incredible volatility in the market...
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| The End Is Near, Embry Warns Gold Price Riggers Posted: 19 Jan 2012 08:24 AM PST "If you think these two graphs are spectacular, wait until the see the one that I'll be posting in this space tomorrow." [COLOR=#7f4028] Yesterday in Gold and Silver Note to all GSD readers: Because of the gold conference in Vancouver this weekend, I will probably NOT have a column on Saturday...but if I do, i...
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| Eye on U.S. Dollar vs Commodity Index Posted: 19 Jan 2012 08:23 AM PST One chart set-up that we need to watch closely in the coming hours and days is the comparison of the dollar and commodity indexes, as their directional price implications could have a major impact on a cross-section of markets.
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| Silver Shortages And Gold To Accelerate Higher Posted: 19 Jan 2012 08:21 AM PST Dear CIGAs, Eric King of King World News had a brief telephone interview with Egon von Greyerz on Tuesday. Egon says our gold is gone. Silver Shortages & Gold to Accelerate Higher (Courtesy of www.KingWorldNews.com) With gold closing above the critical $1,650 level and silver above $30, today King World News interviewed the Continue reading Silver Shortages And Gold To Accelerate Higher
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| Gold Daily and Silver Weekly Charts Posted: 19 Jan 2012 08:10 AM PST |
| Posted: 19 Jan 2012 08:03 AM PST London Gold Market Report from Adrian Ash BullionVault Thurs 19 Jan., 09:05 EST WHOLESALE PRICES to buy gold and silver with Dollars both eased back after touching new 5-week highs in London, rising 1.3% and 3.0% respectively for the week-so-far as the US currency fell further from this week's 17-month high to the Euro. Global equities rose for the fourth day running, with shares in Bank of America adding 6.1% in pre-market US trade after it reported better-than-forecast quarterly earnings. Rising to a two-week high above $1.29, the Euro pushed the price to buy gold for citizens of the 17-nation currency union below last week's finish at €41,500 per kilo. Talks in Athens between government and investor representatives seeking to agree a 50% writedown of Greek bonds – and the interest rate on replacement debt – entered their second day. Both the Spanish and French governments meantime raised new loans from bond investors at slightly lower interest rates than at the last...
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| Posted: 19 Jan 2012 08:00 AM PST Louis: Doug, a lot of readers have been asking for guidance on how to know when it's time to exit center stage and hunker down in some safe place. Few people want to hide from the world in a cabin in the woods while life goes on in the mainstream, but nobody wants to get caught once the gates clang shut on the police state the US is becoming. How do you know when it's time to go? Doug: Well, the first thing to keep in mind is that it's better to be a year too early than a minute too late. David Galland recently read They Thought They Were Free: The Germans, 1933-45, by Milton Mayer. He quoted a passage in his column of last Friday. It goes a long way in explaining why Americans appear to be such whipped dogs today. They're no different from the Germans of recent memory. For those who missed it, let me quote it: "You see," my colleague went on, "one doesn't see exactly where or how to move. Believe me, this is true. Each act, each occasion, is worse than the last, but only a little worse. You wait for the next and the next. You wait for one great shocking occasion, thinking that others, when such a shock comes, will join with you in resisting somehow. You don't want to act, or even talk, alone; you don't want to 'go out of your way to make trouble.' … In the university community, in your own community, you speak privately to your colleagues, some of whom certainly feel as you do; but what do they say? They say, 'It's not so bad' or 'You're seeing things' or 'You're an alarmist.' "These are the beginnings, yes; but how do you know for sure when you don't know the end, and how do you know, or even surmise, the end? On the one hand, your enemies, the law, the regime, the Party, intimidate you. On the other, your colleagues pooh-pooh you as pessimistic or even neurotic… the one great shocking occasion, when tens or hundreds or thousands will join with you, never comes. That's the difficulty. If the last and worst act of the whole regime had come immediately after the first and smallest, thousands, yes, millions would have been sufficiently shocked… But of course this isn't the way it happens. In between come all the hundreds of little steps, some of them imperceptible, each of them preparing you not to be shocked by the next. Step C is not so much worse than Step B, and, if you did not make a stand at Step B, why should you at Step C?" The fact is that the US has been on a slippery slope for decades, and it's about to go over a cliff. However, our standard of living, while declining, is still very high, both relatively and absolutely. But an American can enjoy a much higher standard of living abroad. On the other hand, if I were some poor guy in a poverty-wracked country with few opportunities, I'd want to go where the action is, where the money is, now. Today, that means trying to get into the United States. The US is headed the wrong direction, but it's still a land of opportunity and a whole lot better than some flea-bitten village in Niger. L: By the time things get worse than some Third-World dictatorship in the US, such a person could have remitted a whole lot of cash back home. Doug: And you'd have a whole lot of experiences that would give you a competitive edge back where you came from, or in the next place you go to. The one-eyed man is king in the valley of the blind. People have to lose that backward, peasant mentality that ties them to the land of their birth. Sad to say, although the average American has somewhat more knowledge of the world — mainly due to television — his psychology is just as constrained as that of some serf from central Asia or some primitive villager in Africa. It's all a matter of psychology. But if you're not poor, you want to go someplace that is safe, nice — whatever that means to you — and with a lower cost of living. As most readers know, for me that's Cafayate, Argentina, but one size does not fit all. It needs to be a place you actually enjoy spending some time, with people whose company you enjoy. L: Fair enough. But our readers want to know if your guru-sense is tingling yet, or how close you think we are to it being too late to leave — or at least too late to leave with any meaningful assets. Doug: I'm a trend observer. This is one of the advantages of studying history, because it shows you that things like this rarely happen overnight. They are usually the result of trends that build over years and years, sometimes over generations. In the case of the US, I think the trend has been downhill, in many ways, for many years. Pick a time. You could make an argument, from a moral point of view, that things started heading downhill at the time of the Spanish-American War. That was when a previously peaceful and open country first started conquering overseas lands and staking colonies. America was still in the ascent towards its peak economically, but the seeds of its own demise were already sewn, and a libertarian watching the scene might have concluded that it was time to get out of Dodge — L: [Laughs] That would have been a bit early… Doug: [Chuckles] Yes, that would have been way too soon…So, when did the slide — politically, economically, and socially — really start for the US? When were there no more trends going up? L: FDR? The New Deal was really a moral, economic, and political turning point. Doug: You could make that argument, but the US still grew economically, despite the roadblocks FDR threw in its path. US military power and global prestige continued growing from that point, although, paradoxically, the accelerating growth of the US military was directly responsible for the decline of the US economically and in terms of personal freedom. One reason for the ascendancy of the US after World War II was that we were the only major country in the world not physically devastated by the war. L: Ah. Right. Doug: So it seems to me that the peak of American civilization was in the 1960s. As for evidence, well, I like to put my finger on the 1959 Cadillac. Those twin bullet taillights, the opulence of it… In terms of then-current technology, things couldn't get much better. That was the peak, in my mind. Though things continued getting better for a while, the US started to live out of capital. L: Had to pay for guns and butter. Doug: That's right. The Johnson administration's so-called Great Society created vast new federal bureaucracies that promised Americans free food, shelter, medical care, education, and what-have-you. Americans became true wards of the state. But the real, final nail in the coffin for America was in 1971 — L: Nixon taking the US off the gold standard. Doug: Nixon taking the US off the gold standard — open devaluation of the dollar, combined with wage and price controls for some months. And that was not long after the so-called Bank Secrecy Act, which abolished bank secrecy, and required the reporting of all foreign financial accounts…Since 1971, some things have improved largely due to technological advances, but the America That Was has been fading into the past. It was a decisive turning point. You can see that in the accelerated proliferation of undeclared wars we've had since then. I don't just mean the penny-ante invasions of Granada and Panama — the US has always lorded it over Caribbean and Central American banana republics; those are just sport wars. But Iraq and Afghanistan are alien cultures on the other side of the world — apart from never posing any threat to the US. Now it looks like Iran and Pakistan are on the dance card, and they're big game. The War Against Islam has started in earnest, and it's going to end badly for the US. I explained all this at great length in the white paper, Learn to Make Terror Your Friend, that I wrote for The Casey Report last month. Getting out of Dodge originally appeared in the Daily Reckoning. The Daily Reckoning, published by Agora Financial provides over 400,000 global readers economic news, market analysis, and contrarian investment ideas.
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| Posted: 19 Jan 2012 07:59 AM PST Silver's Lease Spread Has Turned Positive CIGA Eric Negative lease spreads setup Silver's D-wave decline(s) of 2008. Once price collapsed, lease spreads turned positive and peaked. Spreads peaked as price bottomed in late 2008. This setup the accelerating advance of 2009-2011. Real Silver Lease Rates (1-Month LIBOR less 1-Month SOFO) and London PM Fixed Continue reading Jim's Mailbox
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| Uranium Miners Break Through Critical 200 Day Moving Average To The Upside Posted: 19 Jan 2012 07:53 AM PST When it was not fashionable to advocate uranium miners, we recognized that nuclear power remains a viable contributor to inexpensive electrical energy vital to the needs of not only major industrial nations, but to developing countries throughout the world. We refused to succumb to the uppercuts of pessimism that were battering even the champions in the sector. We continue to see the powerful resurrection of the entire nuclear energy sector especially our rising stars. Now uranium is beginning to see increased interest and has powerfully rebounded off of late 2011 lows. One of our featured companies just broke through its 200 day moving average to the upside and just announced that they received better than expected uranium grades in holes drilled for well-field installation. This uranium miner is located right here in the United States in the Powder River Basin which has been producing uranium for over five decades. The company is well funded and fully permitted for construction. Take a look at their latest press release by clicking here. Check out their recent progress on construction by clicking here…
To see a full updated report on this company which has nearly doubled since October lows click here to subscribe to my free 30 day trial of my premium service.
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With gold remaining firm above $1,650, today King World News interviewed legendary Jim Sinclair, to get his take on where things are headed. Sinclair surprised KWN by telling us there would be a run, by European countries, on the gold they have stored at the New York Fed. Here is what Sinclair had to say when we asked him if the IMF would be selling any gold: "No. The role of gold has changed and gold is moving more toward the central bank then away from it. On top of that you have seen a significant amount of media attention towards, 'Where is our gold?' This is taking place in the European press."
Money insider Charles Ortel has warned that a worsening economic picture across the globe will see civil unrest hit the streets of America, not on behalf of leftist OWS types, but by an armed, "irascible and vocal Majority".
As the Dow Jones appoaches 13,000 and continues to break through multi-year highs, reports over the last several months suggest that the smart money, including major trading houses and hedge funds, is heading for the exits. The latest report comes to us from none other than government bailout darling Goldman Sachs:| You are subscribed to email updates from Save Your ASSets First To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
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