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- Shorting Treasuries With The TBF: A Historic Opportunity
- silver in backwardation
- The Most Critical Things To Watch This Earnings Season
- 7 Reasons To Buy Freeport-McMorRan Today
- WATCH: Turk on 2012 Gold
- Silver: The Hottest Commodity
- Silver Confirms the Bullish Outlook for Precious Metals
- EndlessMountain: Silver XAG Update
- WATCH: Vince Lanci on Gold
- Cheap Gold Stocks 2
- Silver: the next Apple?
- How Gold ETFs are Lining Wall Street's Pockets – While Picking Yours
- The Danger Debt Poses to the Western World
- March Silver in Backwardation
- THE PARTY MAY BE OVER!
- Investor sentiment made an incredible change this week
- This group of hated stocks could be starting a big breakout
- Silver Industrial Demand Still Strong
- Lagarde: Euro Won’t Collapse
- Commercials: No Interest in Shorting Silver Again
- Monsanto: $2 Million Lobbying In Q3
- Gold, Silver, Lost Confidence & Systemic Failure
- Silver Update: “Silver/Euro Beta”
- Look Out Below
- Ponzi Planet: The Danger Debt Poses to the Western World
- Volume is lagging the price action in the US dollar index futures BIG TIME
- MF Global Inquiry Turns to Its Primary Regulator...the CME
- Gold & Silver Market Morning, January 06, 2012
- Wild Gyrations in Commodities and Gold
- Trading Comments, 6 January 2012 (posted 10h30 CET):
| Shorting Treasuries With The TBF: A Historic Opportunity Posted: 06 Jan 2012 06:35 AM PST By Sean Bellamy McNulty: My worst call over the past year at Seeking Alpha was a recommend long position in TBF captured in my previous article titled "TBF: Profiting from Inflation." It also happened to be my first article. Unfortunately there was no inflation to profit from, and subsequently bond yields went even lower. Amazingly, some investors are now willing to lend money to the US Government for 20 years at approximately 2.5%. I'm not one of them. There is no shame in being wrong, but there is shame in staying wrong. When a security goes against you, you have two options; either take the value investor's approach of doubling down or the technician's approach of cutting losses. There is no silver bullet for outperforming the market; thus rather than committing to either approach, I use whichever I deem appropriate for the situation. Given the performance of TBF, now is as good a time Complete Story » |
| Posted: 06 Jan 2012 06:13 AM PST http://dailycapitalist.com/2012/01/0...backwardation/ March silver has been flirting with backwardation since the end of 2011, and today it has moved more firmly into backwardated territory. This is extremely bullish for silver, and let me explain why. |
| The Most Critical Things To Watch This Earnings Season Posted: 06 Jan 2012 06:02 AM PST By StreetAuthority: By David Sterman We're entering one of the most important phases of the year for investors. In the weeks ahead, many companies will set the tone for the remainder of 2012, laying out strategic goals along with sales and profit targets. For many companies, it will be the only time of the year they'll provide deep, forward-looking insights.. And though we all seem to be busier than ever, investors should carve out time to listen to conference calls of the companies on their watch list. There is simply no way to really understand a business -- and its prospects -- by only reading quarterly press releases. Here are four key trends that may dominate the upcoming conference call season. 1. The (almighty) dollar Thanks to the ongoing turmoil in Europe, the dollar has been bucking its long secular downward trend by rallying against the much-maligned euro. This is unfortunate for Complete Story » |
| 7 Reasons To Buy Freeport-McMorRan Today Posted: 06 Jan 2012 05:50 AM PST By Dividend Kings: Freeport-McMoRan Copper & Gold's (FCX) stock has struggled in the past six months after trading in the $50 range in the first half of 2011. A lot of investors are screaming buy as some analysts and valuation metrics suggest. I thought it would be worth it to take a closer look at Freeport at these levels that it hasn't seen in 18 months. Here are seven points to consider when looking into Freeport as an investment opportunity. Valuation: Freeport's trailing valuation metrics suggest that Freeport may be undervalued. Freeport's current P/S ratio is 1.7 and it has averaged 2.1 over the past 5 years with a high of 3.6 and a low of 0.5. The company's current P/B ratio is 2.1 and it has averaged 2.9 over the past 5 years with a low of 1.4 and a high of 4.4. Freeport's current P/E ratio is 6.9. That is towards Complete Story » |
| Posted: 06 Jan 2012 05:08 AM PST This is the web exclusive of our Capital Account interview with GoldMoney founder James Turk, from Wednesday January 4th 2012. In this web extra, James Turk speaks makes a prediction about where the price of gold will head in the new year, along with his outlook for central bank printing, and the problems in europe in light of increased liquidity hoarding by banks at the ECB's deposit facility. James Turk also reminds us that nothing moves up always and forever, and the type of correction we have seen in gold recently is normal, and a good buying opportunity. ~TVR |
| Posted: 06 Jan 2012 05:06 AM PST Why Silver Could be of 2012 by Bob Bogda, StreetAuthority.com:
If you're around my age, then you probably remember exactly where you were when you heard the news in November 1963 that President Kennedy had been shot. The first lunar landing in July 1969 is another such time marker for my generation, as is Sept. 11, 2001. Jan. 21, 1980, on the other hand, is probably notable only to the extreme financial market aficionados among us. That's the day the price of silver peaked at an intraday high of a record $50.35 per ounce, or about $140 an ounce in today's (inflation-adjusted) dollars — more than four times the current price. Read More @ StreetAuthority.com |
| Silver Confirms the Bullish Outlook for Precious Metals Posted: 06 Jan 2012 04:09 AM PST
The new year started off with a bang with precious metals out-shining the competition. Is this a harbinger of things to come? We think so and we are not alone. Forecasts for gold for 2012 include a price per ounce of $2,200 by Morgan Stanley, $2,050 by UBS, and $2,000 by Barclays. The year 2011, for other than gold investors, has been a disappointment, more like a train wreck. Growth has been paltry, unemployment remained high, sovereign debt in the stratosphere. The U.S. political system has been dysfunctional unable to make easy decisions, never mind the hard ones. There was no housing rebound and the eurozone looked like it was a house of cards. But look on the bright side. Despite a prophecy by Harold Camping, the world did not end on May 21. Read More @ SilverSeek.com |
| EndlessMountain: Silver XAG Update Posted: 06 Jan 2012 04:03 AM PST EM's Silver XAG Update from 1.6.12. from endlesssmountain: Silver Update 1.6.12: Got Physical ? ~TVR |
| Posted: 06 Jan 2012 03:55 AM PST Daniella Cambone talks Gold with Vince Lanci. ~TVR |
| Posted: 06 Jan 2012 03:42 AM PST |
| Posted: 06 Jan 2012 03:40 AM PST |
| How Gold ETFs are Lining Wall Street's Pockets – While Picking Yours Posted: 06 Jan 2012 02:45 AM PST Rogue traders add risks! |
| The Danger Debt Poses to the Western World Posted: 06 Jan 2012 02:20 AM PST by Alexander Jung, Spiegel.de: Countries around the world, particularly in the West, are hopelessly in the red, with debt rising every day. Even worse, politicians seem paralyzed, unable — or unwilling — to do anything about it. It is a global disaster that threatens the immediate future. But there might be a way out.
When Carlo Ponzi, a dishwasher from Parma, Italy, immigrated to the United States in 1903, he had $2.50 in his pocket and a million-dollar dream in his head. He was able to fulfill that dream, at least temporarily. Ponzi promised people that he would multiply their money in a miraculous way: by 50 percent in six weeks. With his carefully parted hair and charming accent, Ponzi beguiled investors and fueled their avarice. The first investors raked in fantastic returns. What they didn't know was that Ponzi was simply using the next investors' money to pay them their profits. The scheme continued. Ten investors turned into 100, and 100 investors turned into 1,000, until the scam was discovered. Ponzi spent many years in prison, and he died a pauper in 1949. But his name remains important to every criminologist today — and every economist. Read More @ Spiegel.de |
| Posted: 06 Jan 2012 02:18 AM PST
March silver has been flirting with backwardation since the end of 2011, and today it has moved more firmly into backwardated territory. This is extremely bullish for silver, and let me explain why. Backwardation means (and I am oversimplifying a bit here) that a futures contract is cheaper than buying the physical good in the cash market. To understand the meaning of this, the first question is this. Is it possible to warehouse the good? If not, then the futures market is simply the market's opinion of what the price is likely to be on the contract expiration. I am not going to discuss this case any further, as it is not that interesting and it is not germane to silver. Silver, unlike interest rate futures for example, can be warehoused. This means it is possible to simultaneously buy physical silver in the spot market and sell a future in the futures market. One has no net exposure to the *price*. One is exposed only to the *spread*. This is a simple arbitrage. One can "carry" a good (buy spot, sell future). Read More @ SilverSeek.com |
| Posted: 06 Jan 2012 01:24 AM PST About it every 35 to 40 days we get a major profit-taking event occur in the stock market. In bull markets that's all it is, a profit-taking event. In a bear market it is a resumption of the cyclical downtrend triggered by deteriorating fundamentals. It still remains to be seen whether or not stocks have rolled over into another cyclical bear market. However we are entering the timing band for one of those daily cycle corrections. It's not unusual to see this begin as a profit-taking event on the employment report, as we enter earnings season.  The fact that the dollar has consolidated for several weeks above the double top breakout is a strong sign that another powerful leg up is beginning.   Gold may or may not have put in a final D-Wave bottom last week. But there is a good chance that bottom is going to get tested in the next couple of weeks. And then of course we will have to contend with the selling pressure as stocks move down into their intermediate degree decline in February and March. That could conceivably drive gold back down below $1523, although I think any dip below that level will only be marginal and quickly recovered. Right now patience is the name of the game until the stock market has formed a daily cycle low which is due sometime in the middle of January. Cash or a modest position in the dollar index is safest bet for the next couple of weeks.        This posting includes an audio/video/photo media file: Download Now |
| Investor sentiment made an incredible change this week Posted: 06 Jan 2012 12:27 AM PST From The Stock Sage: AAII is out with its latest investor sentiment survey and the change in investor sentiment is nothing short of stunning – At least I was quite surprised to see such a large change in just one week. Perhaps, it is optimism surrounding the new year or Tuesday's big rally made everyone much more confident. Whatever it is, investors are the most bullish they have been since early February (just before the S&P 500 pulled back roughly 4%) and the least bearish they have been since December 2010. Remember, that sentiment surveys are often... Read full article... More on sentiment: Gold traders are incredibly bullish This "contrarian" indicator says stocks could have further to fall The No. 1 reason you should still be accumulating gold for the long term |
| This group of hated stocks could be starting a big breakout Posted: 06 Jan 2012 12:23 AM PST From Kimble Charting Solutions: The chart below, posted on December 5th, reflected that it has been lean times for the Regional Bank ETF (KRE) as it was up against falling resistance. In the earlier post, the suggestion was to follow a breakout should it take place... Below is an update on KRE... Read full article (with charts)... More trading ideas: Most traders are making a mistake with gold This high-flying stock could be headed to new all-time highs Two commodities you don't want to rise could be set to explode higher |
| Silver Industrial Demand Still Strong Posted: 06 Jan 2012 12:16 AM PST Accumulate Silver under $30. |
| Posted: 06 Jan 2012 12:02 AM PST Euro Won't Collapse in 2012, Says IMF Chief Lagarde The euro is likely to survive 2012 despite the eurozone debt crisis, International Monetary Fund Managing Director Christine Lagarde said on Friday. by Martin Strydom, Telegraph.co.uk:
"You have within the zone, not in relation to the currency, serious pressure and issues concerning the sovereign debt, concerning the strength of the banking system which are being addressed. But the currency itself is not one that would vanish or disappear in 2012, not at all." Despite her confidence in the currency, Ms Lagarde said an escalation in the eurozone debt crisis would probably see the IMF to cut its forecast for global economic growth of 4pc in 2012. Read More @ Telegraph.co.uk |
| Commercials: No Interest in Shorting Silver Again Posted: 05 Jan 2012 11:57 PM PST
from Silver Doctors: Ted Butler has allowed the publication of a few paragraphs from his latest private subscription report, which includes some doozies. The big commercial silver shorts had a near death experience when the price approached $50 in April. They were at the end of their rope and needed to do something in a hurry. That's why they rigged prices lower; so that they could buy and save themselves. These well-connected commercials knew, perhaps for the very first time, just how tight the silver market had become and how close we were to a profound physical shortage. The key is that the silver shortage wasn't caused by excessive speculative buying or a bubble or a mania. The extreme tightness and near shortage in silver was as a result of the gradual and cumulative impact of normal investment buying over the past five years. There is nothing to suggest that the long term and steady silver investment buying has ended. Read More @ SilverDoctors.Blogspot.com |
| Monsanto: $2 Million Lobbying In Q3 Posted: 05 Jan 2012 11:48 PM PST Monsanto Spends Whopping $2 Million In Third Quarter 2011 Lobbying Federal Government by Jonathan Benson, NaturalNews.com:
One of its loftiest lobbying seasons on record, Monsanto's Q3 payoffs to our so-called public servants in Washington has kept the wheels greased, so to speak, for expanding its monopoly on patented agriculture. This multi-million dollar bribe from the world's most evil company (http://www.naturalnews.com/030967_Monsanto_evil.html) will help ensure that genetically-modified (GM) alfalfa, for instance, avoids running into any more regulatory roadblocks, even though the crop is useless, and will only serve to contaminate the entire food supply Read More @ NaturalNews.com |
| Gold, Silver, Lost Confidence & Systemic Failure Posted: 05 Jan 2012 11:46 PM PST from King World News:
Contiue reading @ KingWorldNews.com |
| Silver Update: “Silver/Euro Beta” Posted: 05 Jan 2012 10:21 PM PST from BrotherJohnF:
Got Physical ? ~TVR |
| Posted: 05 Jan 2012 10:11 PM PST The Nightmarish Decline Of The Euro Has Begun from The Economic Collapse Blog:
The euro is a dying currency. On Thursday, the EUR/USD fell below 1.28 for the first time since September 2010. In fact, as I write this the EUR/USD is sitting at 1.2791. Back in July, the EUR/USD was over 1.45. But this is just the beginning. The euro is going to go a lot lower. At this point, there are several major European nations that are on the verge of default, the European financial system is overflowing with debt and toxic assets, and most major European banks are leveraged about as badly as Lehman Brothers was when it collapsed. Most Americans simply do not grasp the gravity of what is happening. Just because the Dow is sitting above 12000 and a few U.S. economic numbers have improved slightly does not mean that everything is going to be okay. As I wrote about recently, the EU has a bigger economy than we do and they have a bigger banking system than we do. U.S. banks are massively exposed to European sovereign debt and European banking debt. When the system of Europe collapses and the euro falls apart it is going to rock the entire planet. So you better look out below – the euro is coming down and it is coming down hard. After the euro implodes, nothing is every going to be the same again. So how far are we going to see the euro decline? Read More @ TheEconomicCollapseBlog.com |
| Ponzi Planet: The Danger Debt Poses to the Western World Posted: 05 Jan 2012 09:01 PM PST ¤ Yesterday in Gold and SilverAs I mentioned in 'The Wrap' in this column yesterday, the gold price rallied in the Hong Kong afternoon on Thursday...and then got sold off the moment that London began to trade at 8:00 a.m. GMT. This sell-off intensified once the Comex opened at 8:20 a.m. Eastern time...and the low tick of the day came at precisely 9:30 a.m....an hour and ten minutes later. From there, gold rallied back to its London high...and then traded sideways into the close of electronic trading in New York at 5:15 p.m. The gold price closed at $1,621.40 spot...up $8.90 on the day. Volume net of roll-overs was a very healthy 151,000 contracts...or thereabouts.
The silver price more or less followed the same pattern as gold...rally in the Hong Kong afternoon...sold off as soon as London opened...sold off some more at the Comex open...and then hit its low price tick of the day about two minutes after 10:00 a.m. in New York. The subsequent rally didn't get far...and the silver price basically traded sideways from about 12:25 p.m. in New York until the close of trading in the New York Access Market at 5:15 p.m. Eastern. Silver did manage to close up a bit on the day at $29.37 spot...up 21 cents. Net volume was in the neighbourhood of 36,000 contracts.
The dollar opened about 80.10...and more or less stayed at that level until precisely 3:00 a.m. Eastern time...the open of the London markets. From there, the dollar moved sharply higher, reaching its high tick about 11:15 a.m. in New York...and then did nothing for the rest of the Thursday trading day. The dollar closed up about 80 basis points...almost a full percent. It's interesting to note that the gold price began to rally in New York almost the moment that the dollar rally ended.
The gold stocks hit their nadir about 9:45 a.m...and then climbed back into positive territory. After the gold rally in New York ended in the early afternoon, the stocks got sold off a bit going into the close...but still managed to finish in the black, with the HUI closing up 0.23%.
As a group, the silver stocks fared somewhat better...and Nick Laird's Silver Sentiment Index, which is comprised of the seven silver stocks shown on the chart below, closed up 0.75%.
(Click on image to enlarge) The CME's Daily Delivery Report showed that 24 gold and only 2 silver contracts were posted for delivery on Monday. As I've mentioned several times before, January is not a traditional delivery month for either metal...and unless a big delivery is added during the month, most of the deliveries for January have already occurred. There were no changes in GLD again yesterday...and despite the engineered price decline between Christmas and New Years...not an ounce has been withdrawn from the GLD ETF since December 22nd. However, that's not the case in SLV...as another chunk was withdrawn again yesterday. This time it was 972,210 troy ounces. So far this week, a total of 2.9 million ounces has been withdrawn. The U.S. Mint did not have a sales report yesterday. But it was another big day over at the Comex-approved depositories on Wednesday, as they reported receiving another large amount of silver. This time it was 2,019,191 troy ounces...with the lion's share going into HSBC USA. They didn't ship any out the door. The link to that action is here. Here's a chart that Washington state reader S.A. sent me yesterday. I have a feeling that I've posted it before, but I just can't remember for sure. And even if I have, it's worth a second look.
I have the usual number of stories today...and I hope you're able to at least skim all of them. But there are some important must reads as well. Nothing has changed in the 'locked and loaded' situation since yesterday...and it's just a matter of waiting until gold and silver are allowed to rally a decent amount. Gold is Great, but Silver will be the next Apple: James Turk. Sense of Desperation, But Gold Ready to Stampede: Stephen Leeb. Silver Eagle & Maple Leaf Sales Up As Supply Slips. ¤ Critical ReadsSubscribeMF Global Inquiry Turns to Its Primary Regulator...the CMEFederal authorities investigating the collapse of MF Global have expanded their inquiry to include the actions of the CME Group, the operator of the main exchange where the commodities brokerage firm conducted business, according to people briefed on the matter. CME, which also served as MF Global's primary regulator, has come under heavy criticism after $1.2 billion in customer money disappeared from MF Global. The Commodity Futures Trading Commission, the government agency leading the case, is now scrutinizing CME's conduct in the days before MF Global filed for bankruptcy on Oct. 31st. In particular, the commission is reviewing whether CME's efforts to verify the safety of customer funds were sufficient, the people said. It's nice to see one of the real culprits in this fiasco finally floating into the crosshairs of the investigators. This story was posted late last night in The New York Times...and I thank reader Phil Barlett for sending it along. The link is here.  Here We Go Again: US $25 Million Away From Debt Ceiling BreachIt's simply amazing how quickly the US managed to hit its debt target, pardon, debt ceiling all over again...And now the Social Security Fund pillaging begins anew until Congress signs off on the latest interim debt ceiling increase. You just read the entire text of this tiny zerohedge.com piece. The rest of the article is a table of numbers. It's a very short read courtesy of Wesley Legrand...and the link is here.  Volume is lagging the price action in the US dollar index futures BIG TIMEFirst let me just say that I do not rely on technical indicators to make trading decisions. All my trades are based on Auction Market Principles. The futures markets trade in an auction and price is determined by supply and demand. However, I do like to glance at volume indicators. This is the most glaring bearish negative divergence in comparison to the price action in a futures contract I have seen since I don't know when. Divergence is when an indicator and the price of an asset are moving in different directions. It is a lack of confirmation. I'm looking forward to today's COT report, and what will happen if the Dollar makes a new 52-week high...and one thing is for sure, any reversal pattern that forms in the Dollar index will have me trading to the short side. This is an excellent Scott Pluschau article on the dollar which I consider a must read, because [for the most part] as goes the dollar, so goes the price of the precious metals. It's posted over at scottpluschau.blogspot.com website...and the link is here. The charts alone are worth the trip.  Your humble scribe interviewed by Kerry Lutz at Financial Survival NetworkI had the good fortune to be interviewed by Kerry on Wednesday...and he provided the link to the mp3 file yesterday afternoon. The audio interview runs about twenty minutes or so...and it's posted over at the kerrylutz.com website. The link is here.  Ponzi Planet: The Danger Debt Poses to the Western WorldCountries around the world, particularly in the West, are hopelessly in the red, with debt rising every day. Even worse, politicians seem paralyzed, unable -- or unwilling -- to do anything about it. It is a global disaster that threatens the immediate future. It's the classic pyramid, or snowball scheme, practiced by thousands of con artists after Ponzi. The most spectacular case was that of New York financier Bernard Madoff, who was responsible for losses of about $20 billion by 2008. Snowballs are set into motion, becoming bigger and bigger as they roll along. In the worst case, they end in an avalanche that takes everything else with it. Western economies have not acted much differently than the fraudster Madoff. In 2011, they were virtually inundated with bad news and old sins. Almost everyone -- in Europe and in the United States -- has been living beyond their means, from consumers to politicians to entire countries. Governments have become servants to the markets upon which they have become dependent. The fact that nations are continually spending more than they take in cannot turn out well in the long run. The word "credit" comes from the Latin "credere"...which means "to believe." The system will only function as long as lenders believe in borrowers. Once the belief in the creditworthiness of borrowers is destroyed, hardly anyone will be willing to buy their securities. When that happens, the system is finished. This very long must read was posted on the German website spiegel.de yesterday. I was amazed to see such a frank article show up in the main-stream press...but Europe is different from the U.S. This is Roy Stephens first offering of the day...and it's a barn-burner. The link is here.  Eurozone bank shares battered for a second dayThe scale of the problems facing the eurozone banking system were highlighted on Wednesday as shares in Italian financial group UniCredit crashed with the launch of a deeply-discounted €7.5bn (£6.2bn) cash call. After falling 15pc on Wednesday, shares were down 12pc in mid-afternoon trade at €4.766, after being suspended at least twice amid volatile trade. Italian bank shares filled eight of the top ten fallers in the FTSE Mib index in Milan, with Banco Popolare falling 8.3pc and Intesa Sanpaolo down 5.7pc. The index as a whole fell 3.2pc to 14,837.59. French and German banks also led the fallers in their respective indices. Société Générale fell 3.2pc, while Commerzbank and Deutsche Bank in Germany both fell 3.9pc. This story was posted in The Telegraph yesterday afternoon...and is another Roy Stephens offering. The link is here.  Hungary faces crisis as traders fear bond debt defaultHungary was forced to cancel a bond swap auction amid an escalating financial and political crisis that investors fear could trigger another dangerous shockwave in Europe. The Budapest government saw borrowing costs soar and the currency plunge as traders bet that international authorities may abandon Hungary, letting it become the first European Union country to default on its debts. The florint fell more than 1pc to a record low against the euro and bond yields soared over 10pc. The Hungarian government, which has defied Brussels by introducing a raft of radical constitutional reforms, called off its plans to swap old debt for new because it would be too exp |
| Volume is lagging the price action in the US dollar index futures BIG TIME Posted: 05 Jan 2012 09:01 PM PST  First let me just say that I do not rely on technical indicators to make trading decisions. All my trades are based on Auction Market Principles. The futures markets trade in an auction and price is determined by supply and demand. However, I do like to glance at volume indicators. This is the most glaring bearish negative divergence in comparison to the price action in a futures contract I have seen since I don't know when. Divergence is when an indicator and the price of an asset are moving in different directions. It is a lack of confirmation. |
| MF Global Inquiry Turns to Its Primary Regulator...the CME Posted: 05 Jan 2012 09:01 PM PST  Federal authorities investigating the collapse of MF Global have expanded their inquiry to include the actions of the CME Group, the operator of the main exchange where the commodities brokerage firm conducted business, according to people briefed on the matter. CME, which also served as MF Global's primary regulator, has come under heavy criticism after $1.2 billion in customer money disappeared from MF Global. The Commodity Futures Trading Commission, the government agency leading the case, is now scrutinizing CME's conduct in the days before MF Global filed for bankruptcy on Oct. 31st. In particular, the commission is reviewing whether CME's efforts to verify the safety of customer funds were sufficient, the people said. |
| Gold & Silver Market Morning, January 06, 2012 Posted: 05 Jan 2012 09:00 PM PST |
| Wild Gyrations in Commodities and Gold Posted: 05 Jan 2012 09:00 PM PST |
| Trading Comments, 6 January 2012 (posted 10h30 CET): Posted: 05 Jan 2012 07:30 PM PST Now that the September lows have been tested and held, both gold and silver are forming a double-bottom. There is considerable support for gold under $1600 and silver under $29. The |
"Will 2012 be the end of the euro currency? I seriously don't think so. Its a young currency, its a solid one as well," she said on a visit to South Africa as part of her first tour of the continent since taking the IMF post.
If you have ever wondered how the biotechnology industry has been able to develop the cozy and unquestioning relationship with the federal government that it has today, you need not look much further than Big Biotech's lobbying expenditures. According to a recent Bloomberg Businessweek report, biotech giant Monsanto spent a whopping $2 million just in the third quarter of 2011 lobbying the federal government to support its agenda.
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