Gold World News Flash |
- Silver is Money!
- Interested in Buying Gold or Silver Mining Company Warrants? Here?s How
- Gold Bugs: Here?s How to Make the Most of the Continuing Bull Market in Gold!
- Norcini - Crude Oil Breakout to Carry Gold & Oil Much Higher
- Outrage: $500K Gold Coin Collection Stolen In Violent Home Invasion, 2 Dead, 1 Critical
- What do we do now?
- Rising gold got you down? Call the BIS at 1-800-RIG-MKTS
- Silver Update: 2/20/12 Professor Fekete
- 10 Signs That America Is Decomposing Right In Front Of Our Eyes
- Arensberg analyzes metals' consolidation; Eveillard sees no solution for Europe
- The Gold Price Closed Down 0.1 Percent at $1,724.50
- Dow Jones Soars Gold Flounders
- China's "Mystery" Gold Buyer
- Guest Post: The Great ECB-OSI Bond-Swap Scam
- China's 'Mystery' Gold Buyer
- Silver Update 2/20/12 ECB Exit
- Gold and Silver Stocks' Wild Ride Ahead
- Gold and Silver Stocks' Wild Ride Ahead: Greg McCoach
- Gold Speaks Up
- China's "Mystery" Gold Buyer
- In Search of Silver
- Got Gold Report – Steady as she Goes
- Gold, Silver and the U.S. National Bird
- Gold's Consolidation Phase Continues, Time to Deliver for Euro Leaders
- David Morgan - Myths and Misinformation in the Silver Market
- Gold or Silver ?
- Worry About Confiscation, Worry About Iran-–02-20-2012
- Nomura's Bob Janjuah: Markets now so rigged by govt. that there's little to say
- Borrowing Your Way Out of Debt and Other Normal Abnormalities
- China to the Rescue Once Again
| Posted: 20 Feb 2012 06:08 PM PST Silverstockreport
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| Interested in Buying Gold or Silver Mining Company Warrants? Here?s How Posted: 20 Feb 2012 04:31 PM PST MunKNEE.com Editor-in-Chief Lorimer Wilson with the world's first 100-kg, 99999 pure gold bullion coin with a $1 million face value. It was produced by The Royal Canadian Mint. Buying and selling warrants associated with commodity-related companies (including those of gold and silver miners) can be very confusing if you are not aware of the unique information required to do so and understand just how to go about it. Below you will find all the information you need to know on the subject. Words: 2110 So says Lorimer Wilson editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!).Please note that this paragraph must be included in any article reposting with a link* to the article source to avoid copyright infringement. Wilson goes on to say: 1. Buying Warrants a) TSX/TSXV Symbols Warrants trade exactly like the underlying common stock and, as such, they are assigned a symbol. Since most warrant...
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| Gold Bugs: Here?s How to Make the Most of the Continuing Bull Market in Gold! Posted: 20 Feb 2012 04:31 PM PST MunKNEE.com Editor-in-Chief Lorimer Wilson Holding a Gold Bar All you gold bugs out there (and budding gold bugs too!)*should find this article of extreme interest. With gold about to make a major move upwards*in*price NOW is the time to position your gold-investment allocation to*maximize your dollars deployed and returns generated. Those in the know will not be investing in physical or paper gold, or even the stocks of the miners, but in the long-term warrants of the*very few*mining companies*that offer such an opportunity. This article provides a primer on the MAJOR*advantage that long-term warrants have in a market upleg*and identify the specific warrants that are available. Words: 1037 So says Lorimer Wilson editor of www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) and www.munKNEE.com (Your Key to Making Money!).Please note that this paragraph must be included in any article reposting with a link* to the article source to avoid copyright infr...
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| Norcini - Crude Oil Breakout to Carry Gold & Oil Much Higher Posted: 20 Feb 2012 04:19 PM PST  With oil breaking above the critical resistance level discussed in the KWN Weekly Metals Wrap over the weekend, today King World News interviewed legendary Jim Sinclair's chartist Dan Norcini. Norcini had been talking about the critical $105 level in Saturday's interview and here is what Norcini had to say now that oil has broken out to the uspide: "Oil has broken above the critical $105 area of resistance. If we can get a couple of closes above $105 we should see a substantial spike higher in the price of crude oil. The next move should take crude $10 higher to the resistance area at $115."
This posting includes an audio/video/photo media file: Download Now | ||||
| Outrage: $500K Gold Coin Collection Stolen In Violent Home Invasion, 2 Dead, 1 Critical Posted: 20 Feb 2012 04:04 PM PST from theadvocate.com:
A safe that fits the general description of the one taken from the Babin Road home of two murder victims on Saturday has been found in Livingston Parish, Ascension Parish Sheriff Jeff Wiley said Monday. The safe contained a gold coin collection worth an estimated half-million dollars was the apparent motive when intruders slit the throats of three people, killing two men and critically wounding a woman, Wiley has said. Businessman Robert Irwin Marchand, 74, and his stepson Douglas Dooley, 50, were killed in their home at 39122 Babin Road, Wiley said. Marchand's wife and Dooley's mother, Shirley Marchand, 72, was in "grave condition" Monday after undergoing emergency surgery Sunday at a hospital, Wiley said. The brutal slayings probably occurred between 12 a.m. and 10 a.m. Saturday, Wiley has said.
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| Posted: 20 Feb 2012 03:50 PM PST 2012 will be the year of the end: The End of America The End of Europe The End of Liberty The End of Freedom The End of Prosperity The End of Everything The End Times If you spend a day or two reading news articles, watching TV or going to the movie's these points above are a basic theme over and over again. The history channel broadcasts to you daily that 2012 is the apocalyptic end-times according to the Mayan calendar and Nostradamus. Five movies with themes of WWIII or 2012 end times went to the big screen this past year, with over a dozen more set for the first six months of this coming year. From the Wall Street Journal to the "Doom, Boom and Gloom" blog, you can read over and over again that the financial game is up and the death march of the Dollar and the European Union is set implode and take all of us down a rabbit hole of economic Armageddon. Read more..... 
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| Rising gold got you down? Call the BIS at 1-800-RIG-MKTS Posted: 20 Feb 2012 03:46 PM PST 11:53p ET Monday, February 19, 2012 Dear Friend of GATA and Gold: You never know what sort of compromising documents central bankers will leave lying around, confident that the mainstream financial news media throughout the world have no more curiosity or insight than, say, Kitco gold market analyst Jon Nadler, who maintains with a straight face that central banks have no interest in manipulating the gold market. (See http://www.gata.org/node/8717.) GATA's main work is to document and publicize that rigging -- http://www.gata.org/taxonomy/term/21 -- and our assiduous researcher R.N. this month discovered more such documentation in a 24-page brochure prepared by the Bank for International Settlements to introduce itself to prospective members at a seminar at BIS headquarters in Basle, Switzerland, in June 2008. The brochure includes an advertisement for the gold market-rigging services provided by the BIS to its 50 or so member central banks. Page 17 of the brochure touts "Our Products," including "Gold & Forex Services -- Interventions." The BIS brochure is posted at GATA's Internet site here: http://www.gata.org/files/BISAdvertisesGoldInterventions.pdf So, is your currency sinking as you borrow and print like crazy, unable to keep up with stupid wars, counterproductive social welfare schemes, and corrupt political patronage? No problem -- let the BIS fix things for you. Just give them a call at 1-800-RIG-MKTS. CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT A Rare Opportunity with Collectible Gold Coins Sovereign debt problems in the United States as well as Europe will worsen this year. The mainstream financial media may never report about the likely inflationary consequences of bailouts and "quantitative easing," nor are they likely ever to recommend tangible assets for financial protection. But at Swiss America Trading Corp. we believe that it is no longer a luxury to own gold and silver coins but rather a necessity. At the moment the public is showing little interest in Double Eagle U.S. $20 gold coins, so the price premiums above the intrinsic melt values (.9675 ounce of gold in each coin) are historically low. The ratio of price to bullion content for these coins has been 2:1 but today it is only about 1.25:1. This is a real opportunity. So give us a call or e-mail and we will be glad to discuss the potential of these coins and how to use a ratio strategy to increase your gold ounces without money out of pocket. In the January edition of his Early Warning Report, Richard Maybury writes: "As they are inherently in very limited supply, I believe that high-quality numismatics will become tulips, eventually rising a thousand percent or more in real terms, when money velocity goes into mid-second stage. In late stage, who knows -- 2,000 percent? 3,000?" All inquiries will receive without charge (while supplies last) our latest book, "The Inflation Deception," as well as our newsletter "Real Money Perspectives." -- Tim Murphy, trmurphy@swissamerica.com -- Fred Goldstein, figoldstein@swissamerica.com Telephone: 1-800-289-2646 Swiss America Trading Corp., 15018 North Tatum Blvd., Phoenix, AZ 85032 Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html 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 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 Free Month Subscription to Market Force Analysis for GATA Supporters Market Force Analysis is a unique, patent-pending approach to commodity market analysis. An algorithm has been developed to extract supply and demand weightings from futures market data. The difference between supply and demand is the market imbalance that is called "market force," so named because it is what drives price. It brings clarity to past market action and predicts market trends. Because it is derived from accurate futures market data it is not subject to the errors inherent in macro-level estimates of supply and demand. Learn more here: https://marketforceanalysis.com/About_MFA.html Market Force Analysis focuses on short-term (15 days) and medium-term price predictions to help both short-term traders and long-term investors understand market moves and benefit from the generated prediction of prices. To read subscriber comments that show how much the service is appreciated, visit: https://marketforceanalysis.com/Testimonials.html The MFA service has been pioneered by market analyst and Gold Anti-Trust Action board member and researcher Adrian Douglas. The Market Force Analysis premium service provides: -- A bi-weekly report. -- Access to the MFA hot list of junior mining stocks derived from analysis of more than 800 mining stocks. The MFA hot list consistently outperforms well-known mining share indices like the HUI, GDX, and GDXJ. -- E-mail alerts about actionable trades. -- E-mail updates with important information. To obtain your 1-month free trial subscription to the Market Force Analysis letter, e-mail info@marketforceanalysis.com and put "MFA Free Trial" in the subject field.
This posting includes an audio/video/photo media file: Download Now | ||||
| Silver Update: 2/20/12 Professor Fekete Posted: 20 Feb 2012 03:26 PM PST | ||||
| 10 Signs That America Is Decomposing Right In Front Of Our Eyes Posted: 20 Feb 2012 03:18 PM PST from The Economic Collapse Blog:
Read More @ TheEconomicCollapseBlog.com
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| Arensberg analyzes metals' consolidation; Eveillard sees no solution for Europe Posted: 20 Feb 2012 02:32 PM PST 10:30p ET Monday, February 19, 2012 Dear Friend of GATA and Gold: Gene Arensberg's new Got Gold Report sees gold and silver consolidating among mixed signals, but he seems inclined to consider them bullish on the whole: http://www.gotgoldreport.com/2012/02/got-gold-report-steady-as-she-goes-... Over at King World News, fund manager Jean-Marie Eveillard sees no solution possible in Europe despite widespread fear of contagion if Greece defaults: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/2/20_Ev... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Free Month Subscription to Market Force Analysis for GATA Supporters Market Force Analysis is a unique, patent-pending approach to commodity market analysis. An algorithm has been developed to extract supply and demand weightings from futures market data. The difference between supply and demand is the market imbalance that is called "market force," so named because it is what drives price. It brings clarity to past market action and predicts market trends. Because it is derived from accurate futures market data it is not subject to the errors inherent in macro-level estimates of supply and demand. Learn more here: https://marketforceanalysis.com/About_MFA.html Market Force Analysis focuses on short-term (15 days) and medium-term price predictions to help both short-term traders and long-term investors understand market moves and benefit from the generated prediction of prices. To read subscriber comments that show how much the service is appreciated, visit: https://marketforceanalysis.com/Testimonials.html The MFA service has been pioneered by market analyst and Gold Anti-Trust Action board member and researcher Adrian Douglas. The Market Force Analysis premium service provides: -- A bi-weekly report. -- Access to the MFA hot list of junior mining stocks derived from analysis of more than 800 mining stocks. The MFA hot list consistently outperforms well-known mining share indices like the HUI, GDX, and GDXJ. -- E-mail alerts about actionable trades. -- E-mail updates with important information. To obtain your 1-month free trial subscription to the Market Force Analysis letter, e-mail info@marketforceanalysis.com and put "MFA Free Trial" in the subject field. Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html 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 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 A Rare Opportunity with Collectible Gold Coins Sovereign debt problems in the United States as well as Europe will worsen this year. The mainstream financial media may never report about the likely inflationary consequences of bailouts and "quantitative easing," nor are they likely ever to recommend tangible assets for financial protection. But at Swiss America Trading Corp. we believe that it is no longer a luxury to own gold and silver coins but rather a necessity. At the moment the public is showing little interest in Double Eagle U.S. $20 gold coins, so the price premiums above the intrinsic melt values (.9675 ounce of gold in each coin) are historically low. The ratio of price to bullion content for these coins has been 2:1 but today it is only about 1.25:1. This is a real opportunity. So give us a call or e-mail and we will be glad to discuss the potential of these coins and how to use a ratio strategy to increase your gold ounces without money out of pocket. In the January edition of his Early Warning Report, Richard Maybury writes: "As they are inherently in very limited supply, I believe that high-quality numismatics will become tulips, eventually rising a thousand percent or more in real terms, when money velocity goes into mid-second stage. In late stage, who knows -- 2,000 percent? 3,000?" All inquiries will receive without charge (while supplies last) our latest book, "The Inflation Deception," as well as our newsletter "Real Money Perspectives." -- Tim Murphy, trmurphy@swissamerica.com -- Fred Goldstein, figoldstein@swissamerica.com Telephone: 1-800-289-2646 Swiss America Trading Corp., 15018 North Tatum Blvd., Phoenix, AZ 85032
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| The Gold Price Closed Down 0.1 Percent at $1,724.50 Posted: 20 Feb 2012 01:57 PM PST Gold Price Close Today : 1,724.50 Change : -2.30 or -0.1% Silver Price Close Today : 3320.00 Change : 15 cents or -0.5% Platinum Price Close Today : 1,631.30 Change : 7.80 or 0.5% Palladium Price Close Today : 687.70 Change : -8.50 or -1.2% Gold Silver Ratio Today : 51.94 Change : 0.16 or 1.00% Dow Industrial : 12,949.87 Change : 45.79 or 0.4% US Dollar Index : 79.38 Change : 0.05 or 0.1% Franklin Sanders has not published any commentary today, if he publishes later it will be available here. © 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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| Dow Jones Soars Gold Flounders Posted: 20 Feb 2012 10:57 AM PST Dow Jones Soars Gold Flounders...
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| Posted: 20 Feb 2012 10:29 AM PST by Adrian Ash BullionVault Monday, 20 February 2012 Was the People's Bank of China reallybuying gold at the rate of 1 ounce in every 8 sold worldwide last quarter...? SO THOSE MILITANT crazies known to the mainstream media as "gold bugs" – and to the FBI as subversives – got the headline they've been longing for, apparently, last week. "China central bank in gold-buying push," declared the Financial Times. "It does appear the People's Bank of China has been a significant buyer," agreed a Reuters columnist. At last, rapture is upon us! Beijing is buying gold in the open market! The FT picks up the story... "China's imports from Hong Kong, which account for the majority of its overseas buying, soared to 227 tonnes in the last three months of 2011, according to data published by Hong Kong. Mine production in the country, the largest gold producer, stood at about 100 tonnes in the quarter, implying total supply of at least 330 tonnes. "That compare...
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| Guest Post: The Great ECB-OSI Bond-Swap Scam Posted: 20 Feb 2012 08:47 AM PST Submitted by Dimitrios Giannopoulos of athensnews.eu, as a follow up to his earlier piece, "OSI still holds up PSI deal" The Great ECB-OSI Bond-Swap Scam A massive 150bn euro bill exclusively reserved for the EU-IMF funding of the "official" (OSI) and the private (PSI) sector participations in the Greek writedown on Greek debt may be the key factor behind the ongoing delays in the eurozone finance ministers' approval of a second bailout for Greece. This factor remains concealed behind media hysteria about the supposed failure of Athens to comply with a brutal austerity diktat by the EU-IMF-ECB 'troika'. According to a confidential document of the finance ministry's general accounts office (GLK), the European Central Bank and its national central bank network in the "eurosystem", holding a total of around 60bn euros of Greek bonds, have found a technically tangled, legally dubious and financially costly way to avoid participating in the haircut of 50 percent on the face value of privately held Greek bonds. This magisterial act of accounting alchemy would involve a one-by-one "swap" of 56.3bn euros worth of Greek sovereign bonds - purchased from the secondary market at an average discount of 20 percent as part of the central bank's Securities Markets Programme (SMP) in May-June 2010 - with new bonds issued by the Greek state, carrying the exact same financial and legal provisions as the old ones, except for new serial numbers (ISINs). According to the ECB experts who have devised this peculiar OSI blueprint, the bond swap should shield ECB-held bonds from the obligation to take the same losses as private bondholders when the Greek government imposes Common Action Clauses (CACs) on the old bonds to force a minority of private bondholders to submit their portfolio to the agreed debt writedown. Under an October 27 EU summit decision based on an IMF debt sustainability report, only a 100 percent participation of eligible private bondholders in the proposed PSI (private sector involvement) would cut the required 100bn euros off the country's 370bn euro debt to reach a "sustainable" debt-to-GDP ratio of 120 percent by 2020, from its current level of 165 percent of GDP. The PSI deal involves banks, investors, hedge funds and pension funds swapping bonds they hold for longer-dated securities that pay a lower coupon of around 3-3,5 percent, resulting in a real 70 percent reduction in the net present value of the old bonds. The bond exchange is expected to launch on March 8 and complete three days later to meet a deadline for a 14.4-billion-euro bond repayment due on March 20 allowing Greece to avoid default. But the confidential GLK document notes that the parallel ECB bond swap at par value must also be financed by the EFSF and added to Greek debt. "The old ECB bonds will be transferred to a treasury account of the Greek state for the duration of the PSI bond swaps, and will therefore be charged on the level of Greek debt by the additional amount of 56.3bn euros," says the GLK document. This means that the funding of the 56.3bn euro ECB "bond swap" must be "financed" by the EFSF together with other components of PSI funding under the second EU-IMF bailout plan for Greece whose exact size remains to be decided by the Eurogroup in today's meeting of the 17 finance ministers in Brussels. However, one of the official documents of the new Greek bailout pact with its official creditors passed in parliament on February 12, details some of these EU-IMF loan components including:
The new debt from the ECB bond swap of 56.3bn euros should therefore be added to the above total of 93.7bn euros enshrined in the "PSI LM Facility Agreement" between Greece and the EFSF. Not surprisingly, the grand total of the two sums adds up to exactly 150bn euros. The question is how will the Eurogroup approve these PSI participation costs that far exceed the supposed gain from the 100bn euro "haircut" but also leave nothing to cover Greece's debt servicing obligations for 2012-2014 of at least another 70bn euros to say nothing of possible budget deficits due to the collapse of public revenues in the fifth consecutive year of a Greek depression. All the histrionics about forcing Greece to set up a separate "escrow account that would give legal priority to debt and interest payments over paying for government expenses", is nothing but a smokescreen for piling massive sums of fresh public debt on Greece's shoulders without lending a single penny to make up for the economic catastrophe meted out on the country.
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| Posted: 20 Feb 2012 08:42 AM PST Was the People's Bank of China really buying gold at the rate of 1 ounce in every 8 sold worldwide last quarter? So those militant crazies known to the mainstream media as "gold bugs" - and to the FBI as subversives ... Read More...
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| Silver Update 2/20/12 ECB Exit Posted: 20 Feb 2012 08:39 AM PST
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| Gold and Silver Stocks' Wild Ride Ahead Posted: 20 Feb 2012 08:38 AM PST Greg McCoach, publisher of The Mining Speculator, feels gold is ultimately headed above $6,000/oz and silver into the hundreds of dollars and those who aren't paying attention now are missing their best opportunity to buy before the frenzy begins in earnest. In this exclusive interview with The Gold Report, he spells out the reasons for his optimistic projections for the junior mining sector, which he believes is headed for much higher ground.
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| Gold and Silver Stocks' Wild Ride Ahead: Greg McCoach Posted: 20 Feb 2012 08:32 AM PST The Gold Report: You last spoke with The Gold Report in October 2010. A lot of things have happened since then. You were predicting that the Fed would start printing money to pay its debts, thereby creating a Ponzi scheme, which it had, sort of, been doing all along. So, have things played out the way you thought they would? And, what are you expecting is going to happen in the rest of 2012? Greg McCoach: I think we've been very accurate in that we'd see additional quantitative easing (QE) events. I remember saying when QE1 came out that they'd be doing QE2 and QE3. Of course the Fed denied that and the media said that's not going to happen. Well, it has and we are now at QE3. I believe we're going to see QE events indefinitely until the whole system implodes. So, on that part I feel we've been very accurate. But, on other parts we haven't been so accurate. The junior mining share market certainly hasn't participated with the higher metals prices that we hit last year at $1,900/ounc...
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| Posted: 20 Feb 2012 08:32 AM PST Synopsis: An interview with the ultimate precious metals source reveals why every portfolio needs significant exposure to gold and silver. Dear Readers, We've been making the round of metals in recent editions – it's back to gold this week, with Jeff Clark going directly "to the source." One thing Jeff's article really makes clear is that we all need a Plan B in case the global economy goes off the rails, as we here at Casey Research fear it may. To that end, I encourage you to attend our upcoming Plan B Summit in Weston, Florida, April 27-29. I'll be there with the metals team, our energy team, technology team, and the rest of our key analysts, as well as a great faculty of some of the world's leading independent economic thinkers. If you're not yet fully prepared for what's coming, this event could save your financial life. Sincerely, Louis James Senior Metals Investment Strategist Casey Research Rock & Stock ...
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| China's "Mystery" Gold Buyer Posted: 20 Feb 2012 08:24 AM PST Was the People's Bank of China really buying gold at the rate of 1 ounce in every 8 sold worldwide last quarter...? SO THOSE MILITANT crazies known to the mainstream media as "gold bugs" – and to the FBI as subversives – got the headline they've been longing for, apparently, last week.
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| Posted: 20 Feb 2012 08:12 AM PST In this article about the silver price, Will Bancroft takes a look at what the last year has delivered for silver investors, and what the future of silver investment might hold. Read on for more on what Professor Roy Jastram called “the restless metal”.
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| Got Gold Report – Steady as she Goes Posted: 20 Feb 2012 07:53 AM PST
HOUSTON (Got Gold Report) – Remember that we assume that our readership has ample sources to obtain the latest news and current events, so we try to keep focused on our charts, which we consider worthy of our time and yours. In the Got Gold Report (GGR) we intend to focus each report on some of the charts and vital data we constantly study, update and use in our own trading. By sharing much of that information directly in the linked technical charts on our subscriber pages, we hope to be of service and a value to our subscribers well in excess of the price of admission. In direct response to member feedback, as we move forward the GGR format will be changing over time, to reduce the number of these overly-long written reports and we will be using new (to us) and different formats in the near future that can relay more information, but with a smaller investment of time for our members. Our intention is to make the transition to the new delivery formats as soon as possible, but at a pace which allows us to get comfortable with them beforehand. We will have more about this opening topic to come in future updates, but for now let's get to this week's GGR. Gold and Silver Flags Gold is consolidating above the huge pennant breakout level and has been trading in a tight range governed by roughly $1,700 on the low side and $1,740 or so this past week. Notice, please, in the very simple weekly chart below, that the 7-week moving average (7-wma) has already re-crossed the 40-wma from below. We call that a "7/40 Cross" which is just one of the "arguments" on the gold bullish side of the ledger. Not all of the "arguments" we recorded for the past week are bullish, however. We will focus on one that is less than short-term bullish (COT data) later on in this report. The small-looking consolidation forming above the huge pennant is taking on the look of a new "flag" consolidation on daily and hourly studies, and traders are keenly interested to see which way the gold market will break out of the flag. Until gold shows its hand and does break out of the small flag we can make the following bullish observation as of today, Saturday, February 18: The chart argues bullish in the sense that gold has chosen to consolidate in a tight range following the breakout, rather than having been repelled lower immediately once the bullish thrust upward was exhausted near $1,765. This is especially true given the changes in the large trader positioning in gold futures on the COMEX, discussed later in this offering. As Vultures (Got Gold Report Subscribers) already know, most technicians will agree that pennant formations are often continuation patterns that resolve in the direction of the prevailing trend more often than they don't. As of this writing, then, we note that gold has indeed broken out above the pennant (as expected) and therefore we have to view the yellow metal with a bullish bias. Please refer to the subscriber charts for more detail and our expected support, resistance and possible retrace zones. Silver Flag Silver meandered sideways to slightly lower this past trading week, settling at $33.24, down 19-cents on the Cash Market in New York, and forming a small, short-term flag formation of its own. Recall that we regard silver as also being in a huge consolidation, a giant "flag" formation that has been in play since its near $50 parabolic surge in April of 2011. As the very simple chart below shows clearly, our view is that silver has recently broken out above a bullish falling wedge pattern (FW) inside that immense flag formation. (We previously described it as a FW consolidation inside a larger consolidation as part of silver's digestion of the new higher plateau.) Following the solid breakout above the FW, silver followed through up to expected resistance in the $34-$35 region where it is now consolidating. Like gold, we have to view the fact that silver is consolidating at near resistance, rather than being repelled back lower immediately, with a bullish bias. All else being equal, if long what we don't want to see is church steeple or "reverse V" looking retreats, which are almost universally a short term sign the market "wants" to move lower. The fact that silver has been forming a flag here is much more bullish than had it gotten scalded once it tested the $34s. We believe it is especially interesting that in Thursday's early bear raid on silver, which tested below the $33 level for the first time since establishing $33 support on January 31, that the attempted sell raid failed to gain any downside traction and instead was met with vigorous and determined buying pressure. (Silver fell to $32.64, down 77-cents in a rush on Thursday, Feb 16.) The action turned into a "V" shaped reversal in one-hour tick charts back to above the previous day's close. Those with a bullish bent will point to that sell event as "proof" that $33 remains solid support. Bears will ominously call the action a "warning shot." Our view is that we have to be impressed that silver seems to be attempting to establish support higher than where we might have expected it to and into the teeth of the fairly heavy "opposition" by the usual Big Sellers in the paper silver futures market recently. More on that a bit later on in the report. As we said last time: "Like pennants, flags are contra-trend consolidations or digestion periods that often, but not always, resolve in the direction of the prevailing trend. Although flags are normally thought of as more short-term animals, we do indeed believe they are appropriate to consider in longer-term events inside great secular bull markets." How interesting. We have silver consolidating in a tight flag consolidation, having broken out of a Falling Wedge consolidation inside a giant flag consolidation. If we were asked if there was anything particularly bearish about the current condition, we would have to respond in the negative. To the contrary, we believe the chart indicates that silver is currently staging for a retest of the $35 resistance level, inside a great mid-point consolidation of a secular bull market. Our view is that silver would likely have to be rocked by an exogenous event to counter the prevailing bullish signature we see evident today. Please refer to the linked silver charts on the subscriber pages for more details and our current silver trade stop levels. Tailwinds Looking briefly elsewhere, Greece might fail, get kicked out of the E.U., or it may decide to ditch the Euro currency, but if she does, would anyone be surprised at this point? Can we believe that virtually anyone important directly in the line of fire of such an event has already taken evasive action or appropriate countermeasures? You bet we can. Does the recent announcement of increased quantitative easing by the U.K. and Japan add to the bullish tailwinds for gold, and by extension, silver? Yes, we believe it does. Added on top of the Fed's action to open huge dollar-euro swap lines with Europe and the ECB's Long-Term-Repo-Ops (LTRO) to force-liquefy and recapitalize sovereign-debt-holding European banks (a world class 'can kick'), we have to note that some of the systemic pressure has indeed eased for now. Piling on, China has ramped up its purchases from Hong Kong of both gold and silver, surpassing India as the largest buyer of gold jewelry and investment gold in Q4 2011, according to the World Gold Council (see the report linked on the subscriber pages in the "Other Reports" section. It is essential reading for Vultures). A key trend change that underpins the bull market for gold is that central banks have shown a commitment to bolster their gold holdings – to the tune of more than 500 tonnes over the past two years. Central banks have gone from being a downward force on gold to part of the gold support structure and the effects cannot be easily overstated. So in early 2012 some, but certainly not all of the black swans circling have faded out of sight, but enough of them have faded from view to allow the Fed's super easy money policies to "do their thing" with equity markets again, allowing at least some confidence to return to people and markets, for now. Generic U.S. Gold Coin Premiums Very Low One interesting anecdotal item, we want to share before moving into the full report, comes to us from Heritage Rare Coin Galleries in Dallas. Doug Baliko, VP for U.S. Gold and Numismatics for Heritage sent us an interesting chart which tracks premiums for legacy U.S. gold coins. Doug writes in his typically terse style: "The lethargy of the generic gold market continues. Supply remains high and demand low. Even with gold solidly above recent lows and moving higher demand continues to be morose. Many, many items are now only slightly higher than the cost of bullion. When demand does return, these premium levels will be seen as one of the true major buying opportunities in pre-1933 generic gold." Just a couple of examples of the data Doug shared with us, as of February 17 the premium over melt value being charged by Heritage for U.S. $5 Liberty gold coins in Very Fine (VF) condition had fallen to just 6%. U.S. $10 "Libs" in VF fetched a tiny 3.12% over melt and believe it or not VF $20 Libs could be had in quantity for a shockingly low 2.52% over melt. It has been our own experience that periods of heavy availability and low premiums for generic gold are normally NOT bearish. To the contrary, we tend to view very low premiums as a contrary bullish indicator speaking generally. Add that to the mix too, but timing premium changes can be challenging. If given a choice between buying legacy U.S. circulated gold coins and today's bullion coins at the identical premium (as is currently available for $20 Libs in VF condition) we would take the U.S. gold coins every time as long as it is from a reputable dealer. Vaya con Dios, David Coffin It is with shock and sadness that we relate the passing of our friend and terrific resource company guru David Coffin, as we learned about it on Friday, February 17, in a note from his brother, Eric, the other half of the Hard Rock Analyst duo. The news comes barely two weeks following the death of their 91-year old father, so our heart and prayers go out to Eric and his extended family. David was very good at what he did, was extremely well respected in the industry and will be sorely missed. Eric says that the HRA letter will continue, just not right away as he tends to family matters in Vancouver. We know his subscribers will be very supportive of whatever time he needs to take at this very tough time. Eric asked that friends and well wishers kindly refrain from calling and to use email instead for now, by the way. With that brief introduction, let's pause here and move directly into the full Got Gold Report. Got Gold Report First things first, the Got Gold Report – the full report – is published ad hoc, as conditions change, usually about biweekly, but at least 18 times per year. Between full GGR reports we communicate more regularly on the GGR web log, which is always free and open to the public, or in our COT Flash reports, via email Special Notes and Vulture Bargain Hunter (VB Updates) reserved exclusively for subscribers. COT Flash reports appear on off weeks for the Got Gold Report when there are what we consider important changes in the commitments of traders reports which cannot wait until the next full report. VB Update offerings appear ad hoc (usually monthly) as there are developments we feel merit comment for and in the resource company issues we track closely. Email Special Notes are used sparingly, but are used to communicate issues we deem important between other offerings. Our aim is to briefly summarize our positioning for the gold and silver markets, and to highlight a few of the dozens of indicators, ratios and graphs we keep in constant touch with. Vultures, after logging in, please see the commentary in our numerous technical charts located in their own section of the password-protected subscriber pages. We update most of the Got Gold Report linked charts each week (some holidays excepted), placing our commentary in dialog boxes in the charts themselves. Changes to the linked charts are almost always completed by 6:00 pm ET on Sunday evening (except when Monday is a holiday) and occasionally during the week as events unfold. To continue reading, please log in or click here to subscribe to a Got Gold Report Membership.
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| Gold, Silver and the U.S. National Bird Posted: 20 Feb 2012 07:47 AM PST Benjamin Franklin originally recommended the turkey as the national bird for the U.S. Today, we imagine that after considering the situation being created by the current regime in Washington he might recommend the ostrich as a more appropriate national symbol. With its head buried in the sand to avoid facing critical issues, the U.S. may be ignoring the vulnerabilities in today's world. For those that are not familiar with the old story of the ostrich with its head in the sand, we submit the following picture of the proposed new U.S. national bird.
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| Gold's Consolidation Phase Continues, Time to Deliver for Euro Leaders Posted: 20 Feb 2012 07:41 AM PST WHOLESALE MARKET gold bullion prices held above $1730 an ounce in Monday morning's London trading – roughly in line with where gold has been for much of February – while European stocks and commodities edged higher amid hopes that policymakers might finally approve Greece's second bailout. US markets are closed for a holiday. Silver bullion prices were also fairly flat this morning around $33.50 per ounce.
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| David Morgan - Myths and Misinformation in the Silver Market Posted: 20 Feb 2012 07:01 AM PST
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| Posted: 20 Feb 2012 06:59 AM PST Kitco News during the last California Resources... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]] 
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| Worry About Confiscation, Worry About Iran-–02-20-2012 Posted: 20 Feb 2012 06:47 AM PST We sat down with the ever ubiquitous "Ranting" Andy Hoffman of Miles Franklin today. While alot of you have been worrying about Uncle Sam grabbing your gold, as always, Andy has his eye on the bigger picture. As usual, there's something rotten in the Middle East, and we're not talking about a food storage issue. Rather, the pressure on Iran has been ratcheted up. They were effectively removed from the international financial grid due to their forced removal from SWIFT, which is the backbone of the international electronic funds transfer system. Now we will find out how supportive their allies Russia and China really are. While no one favors an out and out war, and while the US seems to be marching ahead, Andy thinks there's lots of challenges ahead that could derail the country and the World. Exploding oil prices, rapidly rising gold and silver prices, and commodities through the roof to name a few. Are you ready for next chapter in the ceaseless world-wide economic collapse? Please fill out the subscription box on KerryLutz.com to receive your free Financial Survival Toolkit.
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| Nomura's Bob Janjuah: Markets now so rigged by govt. that there's little to say Posted: 20 Feb 2012 06:31 AM PST 2:30p Monday, February 20, 2012 Dear Friend of GATA and Gold: Zero Hedge today publishes the latest market letter written by Nomura International's investment strategist Bob Janjuah, who sounds quite a lot like GATA: "Bond and currency markets are now so rigged by policy makers that I have no meaningful insights to offer, other than my bubble fears." Maybe in another century or two observations about market rigging by government will become actual news stories in the mainstream financial news media. But for the time being market reality is confined to a few obscure Internet sites. The Zero Hedge post with Janjuah's letter is here: http://www.zerohedge.com/news/bob-janjuah-markets-are-so-rigged-policy-m... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Golden Phoenix Discusses Royalty Mining Growth Strategy Golden Phoenix Minerals Inc. has discussed its royalty mining growth strategy on the Fox Business Network program "21st Century Business" with host Jackie Bales. Golden Phoenix's director of corporate communications, Robert Ian, told how the company narrows its focus to project generation and future royalty streams. He explained why Golden Phoenix believes it's better to own joint-venture interests in several producing mines instead of full exposure to just one project. "21st Century Business" has been airing for 15 years. Previous hosts have included Gen. Alexander Haig, Gen.l Norman Schwarzkopf, and Secretary of Defense Caspar Weinberger. Golden Phoenix appeared as paid programming on this broadcast. To view the program with Golden Phoenix, please visit Golden Phoenix's Internet site here: http://goldenphoenix.us/fox-business-network/ Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html 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 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 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.
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| Borrowing Your Way Out of Debt and Other Normal Abnormalities Posted: 20 Feb 2012 06:11 AM PST Dow up 45 points on Friday. The 10-year T-note right on the 2% yield mark. Almost all the news is good. It looks like recovery is finally here. Or, are we just getting used to a punky economy…where even a little improvement looks like a boom? As far as we know, the US economy is still in a Great Correction…with plenty more correction ahead. But people get used to correction…and used to the feds pumping in cash and credit to keep things from getting too rough. It is not exactly "normal" for a central bank to lend money below the rate of consumer price inflation. And it is not exactly "normal" for the government to run a deficit equal to 8% of GDP…or for it to spend $1.50 for every dollar it gets in tax revenues. A lot of things aren't "normal." But if you do them for long enough, people get used to them. Even giving away money begins to seem normal. The feds didn't invent their EZ money theories. John Maynard Keynes came up with the goofy program many years ago. He met with Franklin Roosevelt and explained the idea. Roosevelt later confessed that he had no idea what Keynes was talking about. But he liked Keynes' palaver. Because it gave him a theoretical justification for taking control of the economy. Keynes' basic idea was stolen from the Old Testament. Pharaoh stored up grain during the years when harvests were good. Then, he gave out the grain when they were bad. He looked like a genius. FDR probably wanted to look like a genius too. But governments found it a lot easier to spend during the lean years than to save during the fat ones. In practice, they didn't save at all. And then, when trouble came, they had no real resources with which to do any good. Instead, they could only borrow money…or print it. The real problem now is that the private sector has debt to settle. But you can't settle debt with more debt. No, dear reader, you can't borrow your way out of debt. But you can sure in-debt your way out of borrowing. That is, you can run up so much debt that no one wants to lend you any more money. And when that happens…you're like Greece. But the USA isn't Greece — except in the important ways. Both nations spend more than they can afford, depending on debt to make up the difference. And it works…sometimes for longer than you might imagine. And while it's working, everybody is pretty happy. Investors seem to think our problems are behind us. But are they? We turn our heads to look back. Yes, we see a few problems back there. Households have reduced their debt-to-GDP ratio by 15%. Unfortunately, they've got a long way to go. At least another 15%. Maybe another 50%. And as long as they're working on it…there can't be a genuine recovery. All the feds are doing is setting us up for more, worse trouble. Government debt is rising fast. So…how does this eventually resolve itself? Badly is our guess… But wait. You probably think the feds are smart people. If they're running up big debts, it must be for a good reason, right? And they must know what they're doing, right? And if things start to go bad, they'll see the error of their ways and change direction, right? Hey, that's what's nice about modern democratic government! The people control it. They'll always do what's best for themselves, right? And what's best for the people is best for the country. On the other hand, nobody wants the country to go broke, do they? So, it won't happen, will it? Isn't that the way things work? No, afraid not. Often things happen that no one wants to happen. Who wants a $15 trillion US national debt? Who wants 25 million people without jobs? Who wants Mitt Romney or Barack Obama in the White House? 'Nuff said. Bill Bonner Borrowing Your Way Out of Debt and Other Normal Abnormalities 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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| China to the Rescue Once Again Posted: 20 Feb 2012 05:24 AM PST [url]http://www.traderdannorcini.blogspot.com/[/url] [url]http://www.fortwealth.com/[/url] While the markets are closed for the President's Day holiday here in the US, the futures are open for trading in some markets. Those markets are reacing to overnight news that China is lowering the Reserve Ratio Requirement for its banks after having spent most of last year raising it. Market watchers are interpreting this as a loosening of the monetary strings in China and reading it as bullish for the commodity sector as a whole while the equity guys (who never need a reason to be wildly bullish) are using the news to goose the S&P futures higher. Risk aversion is getting tossed out on the news with the Dollar getting whacked lower, gold and silver moving higher and the long bond getting sold off and moving closer to the bottom of that multi-week trading range. At the rate these guys are chasing stocks higher, we are going to see the S&P 500 over 1400 before Spring arrives. Ah yes, nothing...
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The decay of society is so much harder to quantify than economic decline is. The government keeps lots of statistics on things like unemployment and inflation, but it really does not keep track of how sick and twisted people are becoming. Most of us recognize that the character of the American people has changed dramatically over the decades, but unlike the national debt, you can't easily point to a chart or a graph to show exactly how bad things are getting. In this article, my approach will be to point you to various "signs" of social decay. Signs tell us where we are at now and where we are headed. Some of the signs that I will use will be statistics while others will simply consist of anecdotal evidence. Yes, anecdotal evidence is not perfect, but when you put enough of it together it starts to paint a pretty clear picture of what is going on out there. America is becoming a truly frightening place. Our cities our decaying, thieves are becoming bolder, you never know who you can trust and everyone seems depressed. America is decomposing right in front of our eyes, and it is time that we all admitted it.| 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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