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- Greece: Monday Could Disappoint Markets
- Colorado looking at gold, silver currency
- Milton Friedman on Hayek’s ‘Road to Surfdom’
- Some Websites of Interest
- Don't Expect A Kinross Takeover Anytime Soon
- Top Q4 Moves From Billionaire T Boone Pickens' Energy-Focused Hedge Fund
- Weekly Market Movers: February 20-24
- Catch Up
- As Euroland Comes Apart What Do We See In America?
- Links 2/19/12
- Bits of Australia’s Gold history
- The latest on Silver from David Morgan
- Gold and silver returns calculator
- 2012 Price Predictions for Gold and Silver
- NRA is Shilling for Universal Coin & Bullion
- Silver Could Double by Year End
| Greece: Monday Could Disappoint Markets Posted: 19 Feb 2012 12:25 AM PST By Chris Ciovacco: Late last week, the vast majority of media coverage reported the next bailout for Greece is basically a done deal. A few reports Saturday suggest it is unwise to believe we are a rubber stamp away from bailout II being approved. Even if Greece gets the next check, it appears as if the Greek tragedy will continue (something we already knew). The excerpts below come from an article published by the Guardian:
Complete Story » |
| Colorado looking at gold, silver currency Posted: 19 Feb 2012 12:17 AM PST Colorado looking at gold, silver currency Colorado looking at gold, silver currency Associated Press | Posted: Friday, February 17, 2012 2:51 pm | No Comments Posted Worried that the U.S. dollar may not be good as gold, some Colorado lawmakers are pushing a bill to legalize gold and silver coins as usable currency. The bill would not lead to folks carrying gold nuggets in their purses and would have little practical effect. Rather the policy proposal from a small group of conservative lawmakers reflects anxieties about the nation's financial stability, the domestic consequences of the European debt crisis and chronic deficit spending in Washington. "There are lots of concerns about the U.S. monetary system," said the bill's sponsor, Republican Sen. Kent Lambert of Colorado Springs. "Individuals and states ought to be increasing their gold reserves. There's no way to maintain the value of anything if countries start a race to the bottom by inflating their currency to get out of debt." Republican presidential candidate Ron Paul is among those who believe the nation should return to the gold standard, in which paper currency is guaranteed by precious metal. "I am not a Ron Paul kind of guy," Lambert said. "But that's something I think is very legitimate that he brought up." Utah legalized gold and silver as a currency option last year. And lawmakers in more than a dozen other states have proposed similar legislation on gold currency, said Rich Danker of the American Principles Project. The Washington-based conservative think tank favors a return to the gold standard. "These bills offer a sound monetary alternative to the U.S. dollar, and they allow people to store their wealth in coins that will not decrease in value," Danker said. But the proposal pending in the Colorado Senate faces long odds. Currently, people who want to spend gold and silver coins must convert them to paper dollars first. Minted U.S. gold and silver coins retain their face value, even if the value of the coins' precious metals rises. So a $20 gold coin minted in the 1800s is still legally worth $20, even though its real value may be thousands of dollars in today's market. Gold was trading at above $1,700 an ounce Friday. The U.S. largely abandoned gold-backed money during World War I in order to pay for the war. President Franklin D. Roosevelt basically banned gold and silver as legal currency to prevent hoarding during the Great Depression. And in 1971, President Richard Nixon formally abandoned the gold standard. Gold and silver coins manufactured by the U.S. Mint are mostly used for investment portfolios. People can trade them but with capital gains taxes on profits. Lambert said his bill is designed to provide consumers alternatives in case the dollar falls precipitously. It wouldn't require merchants to accept nuggets of gold and silver as payment. The bill cleared a Senate committee with bipartisan support and awaits a vote in the full chamber. "It's something I'd never even heard of before," said Sen. Cheri Jahn, a Democrat who voted to forward the bill. "It's definitely an idea that deserves more discussion from the full body." Lambert has been talking about gold for a while. Two years ago he proposed building a vault to fill with gold under the Colorado Capitol, an idea that was hastily rejected. But he said Colorado should be especially keen on gold legal currency. The state has a rich mining history, and its gold and silver caches helped finance construction of the state Capitol in the 19th century. Colorado no longer keeps reserves of gold nor silver, though gold and silver bullion are kept at the U.S. Mint in Denver, a short walk from the Capitol. But some Democrats aren't convinced that Colorado needs to make gold and silver legal currency. Sen. Michael Johnston said that people worried about currency devaluation are free to stockpile gold and silver now. He doesn't take seriously the fear that converting gold or silver to dollars would one day be impossible. "The liquidity rate of gold is not in question," Johnston said. Read more: http://www.heraldextra.com/news/stat...#ixzz1mpxJDuyL |
| Milton Friedman on Hayek’s ‘Road to Surfdom’ Posted: 19 Feb 2012 12:15 AM PST Milton Friedman wrote the forward to the 50th anniversary reprint of F. A. Hayek's manifesto, The Road to Surfdom. Essential reading for free market loving people anywhere. The videos below are an interview of Dr. Friedman shortly after Hayek's death. The introduction to the video below says, briefly: (Friedman) Says Federal Reserve should be abolished, criticizes Keynes. One of Friedman's best interviews, discussion spans Friedman's career and his view of numerous political figures and public policy issues. Friedman believed that when the American people become aware that the federal government has become too big they would force a meaningful and lasting change to occur to rein in excessive or oppressive government. We believe that process and awareness is now, finally coming to the fore. The debate is changing before our eyes. And we pray that it is not too late. Continued, videos below. ***Originally from C-Span, 1994. Time investment: roughly one hour. We deem the program worthy of sharing. Source: YouTube Part 1: http://www.youtube.com/watch?feature=player_detailpage&v=15idnfuyqXs Part 2: http://www.youtube.com/watch?v=UNYBIcrBQWY&feature=player_detailpage Part 1
Part 2
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| Posted: 19 Feb 2012 12:05 AM PST Dollar Collapse.com is an excellent website for economic and financial news. If you enjoy the approach at Monty Pelerin's World, you will likely enjoy most of these, many of which I try to visit regularly. For those interested, this list is worthwhile: 24hgold321gold Austrian Enginomics Australian Gold Automatic Earth Big Picture Bruce Collins Bullion Desk [...] |
| Don't Expect A Kinross Takeover Anytime Soon Posted: 19 Feb 2012 12:01 AM PST By Felix Pinhasov: The prolonged decline in Kinross Gold Corporation (KGC) in the past 52 weeks from a high of $18.25 to the most recent close of $10.95 has been truly devastating for shareholders who bought into the story. The company's reputation and market value have suffered greatly ever since it acquired Red Back Mining, the owner of the Tasiast gold project in Mauritania, for $7.1 billion in an all share/warrant offer. Viewed as overpaying for the Red Back assets, Kinross proceeded to disappoint by increasing Tasiast's capital spending estimates and postponing its construction to try to minimize costs. Most recently, the company reported a $2.9 billion goodwill impairment charge related to the Red Back acquisition. The news created additional selling pressure by frustrated shareholders as the write-down essentially confirms that Kinross overpaid for Red Back. The slide in the shares also prompted an analyst to say that the decline in Kinross shares Complete Story » |
| Top Q4 Moves From Billionaire T Boone Pickens' Energy-Focused Hedge Fund Posted: 19 Feb 2012 12:00 AM PST By Ganaxi Small Cap Movers: Dallas, TX-based energy-focused BP Capital Management LP, founded in 1997 by T. Boone Pickens, manages $4 billion in assets, most of it in a commodity-focused hedge fund and a smaller $140 million in an energy-focused equity hedge fund. Mr. Pickens holds a 46% interest in the firm, and has earned billion-dollar payouts from his investment in the firm twice, in 2006 and 2007. Besides his fame as an energy investor, Mr. Pickens is also well-known for his business leadership, philanthropy and political activism, including his "Pickens Plan" that he proposed during the election cycle in 2008 for reducing U.S. dependency on foreign energy that among other things also had a strong alternative energy component. In this article, we focus on the $140 million of assets reported in the Q4 13-F that was filed last Tuesday, on February 14th. The portfolio is concentrated in just 16 positions, with about 70% of Complete Story » |
| Weekly Market Movers: February 20-24 Posted: 18 Feb 2012 10:52 PM PST The US dollar advanced in the past week, riding on some good news and especially on the tensions in Greece. Athens will be in the limelight again. In addition, US housing data, Unemployment claims and German Ifo Business Climate are the major market movers lined up this week. Here is an outlook on the most influential trade events. Last week brought more encouraging news for the US labor market, with a lower than expected, unemployment claims of 348K indicating a steady improvement in the Job market with a strong hiring trend. However the European debt crisis is deepening amid the ongoing standstill around Greece and the EU's reluctance to hand the full bailout package. Will the EU current developments affect US recovery? Let's start
Complete Story » |
| Posted: 18 Feb 2012 10:15 PM PST Been stockpiling the following for comment: Silver shortage vs coin shortage I've been on this issue for a long time, now I have backup from David Morgan: In 2008 there was no shortage of all silver per se, but there was a shortage of coins, bars and other retail "investment" items. The evidence: Much higher premiums back then for small silver products on the street versus the commercial price for average 1,000 ounce commercial good delivery bars in late 2008 and early 2009, since then corrected. I also note that he says it is a myth that silver is currently in shortage. India's love of gold Here in the West the average person (and Buffett) has no idea of how pervasive gold is in East society. Mineweb notes loans against gold as collateral was one of the country's fastest growing businesses. Though many Indians continue to use the glittering metal to flaunt their family wealth, most working in the informal sector, have few choices to borrow money and resort to pawning their family jewels rather than taking the longer route of bank loans. and By the end of November this fiscal, total credit issued by banks grew at around 20%, while organised gold loans grew at 50%, making it an increasingly important source of liquidity. Typically, most loans are repaid within four months, since most Indians prefer to hoard their gold. Need to watch that word "hoard", which can become a dirty word. See this The government had raised the import duty of gold and silver to curb import of precious metals which result in huge outflow of dollars outside the country. Much better you save by giving your money to bankers and if you won't then Vietnam again leads the way with plans to "mobilize" Gold Bullion held by Vietnamese citizens "in service of the national socio-economic development". Venezuela Gata reports WSJ as saying Venezuelan officials completed a two-month process of repatriating 160 tons of the country's gold holdings Monday, by welcoming home the final shipment of the precious metal from Europe. Where are those excited gold bulls with the thought that the withdrawal of some 150-200 tonnes of gold from the Bank of England and bullion banks will force a squeeze on traditional stockpiles of gold? Did Bankers Deliberately Crash MF Global to Crash Gold and Silver Prices? I can't split between JS Kim and Jeff Neilson for people who have come out of nowhere to be sudden gold market experts. Short answer to JS Kim - no. Gold Commission When I see Newt Gingrich calling for a gold standard I start to get worried. How much different is a gold standard under the control of a central bank from fiat? When I see mainstream articles discussing the issue, I wonder if the central bank gold standard is put up to sideline the Ron Paul open currency approach?  |
| As Euroland Comes Apart What Do We See In America? Posted: 18 Feb 2012 08:18 PM PST Americas leaders in corporations and most specifically in the global banks, Congress and the Executive have a dug a bottomless pit over the past years since the inception of the Great society instigated by Lynden Johnson in the middle 1960's. The Guns & Butter policies have proven way too expensive even for a massive economy like the United States. The bond markets are enormous and glacial in their movements. However, we can see events gathering into a volatility where any tiny mistake creates an implosion of global economies and births a flock of hidden Black Swans. Our current administration and previous ones have attempted to buy-print their way out of this dilemma. This can work for years as Japan has demonstrated. However, Japan, while in a bond hole twice as deep as the USA's, sells its paper internally. Also, their striving for perfection in all that they do has produced a massive and deep jobs programs for the nations' citizens. This can last, as they have proven, as long as confidence continues in those piles of bonds and other credit instruments. Some Of The Potential Black Swan Events Flying Toward America In 2012. Unemployment is the largest social problem. Bad debts is the largest government, business and personal problem. These, for the most part remain un-payable debts to be eradicated and must be re-paid, written-down in discounts o,r eliminated through defaults. Authorities of all kinds who are allegedly in charge of this monster mess continue with their denials, arrogance, and an assertive no compromise attitude. The primary goal is to maintain the status quo, a paradigm that is now smashed and irretrievably broken. Their idea is to continue to control global currencies, bond markets and a hold an iron grip on the Herd-Sheeple of the world; containing them within the system. This has worked for decades, but is now breaking apart as we can see in the Arab Spring revolutions in the Middle East, and other citizens with no work or, assets to continue their very existence. In our view, American urban life has unraveled to the extent the streets are going hot with demonstrations, violence and a larger pushback by the unemployed. Those without USA jobs now number in the millions with a preponderance centered in younger groups 18-26 years of age. Those people are prone to pushback more than their elders. We Have A Laundry List Of Negatives Piling Against Us In 2012 … Including Debts , Deficits And Defaults. Beyond those, We Are Watching Spreading Social Breakdowns. Big banks are broke and facing hundreds of lawsuits from regulators and abused customers and citizens. The nasty mortgage left-overs in real estate have not been addressed but merely hidden in the dusty back rooms of banks and other lenders. Some have been thrust into the open like Countrywide, but as large as that one was, it is nothing compared to the outstanding balances. In New York state this week banks are straining to exit MERS lawsuits and the massive frauds they committed on behalf of those lenders. Bankers and banks who created the mortgage and derivative messes are sitting in a poisonous atmosphere. Again, we are strongly against violence but this can spread. I would not want to be a global banker. Cycles and the calendar are propping-up several markets enabling, in our view, the old paradigm to continue-last until later spring. This was recently proven when the PPT manipulated the S&P's and fund managers followed with buying when it was not technically correct to do so. Against all reason, as we reported February 3, the primary movers including the S&P's, Nasdaq, and bonds behaved irrationally to the buy side. We expected this and did forecast it, as otherwise, a larger selling event was imminent. And, of course this is an election year. This event created a short-term reprieve but those "Kicking the Can" days are about over. Europe can crack-up first and with major American banker and corporation investments at risk, we should get nailed second, and not far after Europe must face the music. It is difficult to measure the depth of USA risk in Europe but I would not be surprised to see the total exceed the entire capitalization of New York's big banks. The immediate follow-on report will be: First as Euroland crashes, it creates a lemming-like rush to the safety of US investments and bonds. This will prop the US Dollar and bond markets instilling a short-term feeling of well-being and security. However, it won't be long, until effects from Europe expand and crush American markets. European elections will add to disruptions as voters demand change from messy problems. We can see new faces in many Euro-land capitals especially in Greece, Portugal, Spain and of course France. Ireland and Iceland have already been through the wringer, and in the aftermath, a new settling process has begun under an umbrella of severe austerity. It was reported again this morning on Bloomberg that educated youngsters with the funds to emigrate are doing so. Ireland's parents are encouraging adult children to leave Ireland for greener pastures. Some of those places are Canada and Australia. With the better educated group permanently leaving, what is the future for those left behind in Ireland? The Middle East is on fire from conflicts in Iraq, Afghanistan, Libya, Syria, Yemen, and other related nations. The unemployed have no future so they begin to fight. Watch for this to spread over the entire Middle East, Africa and into Europe. Dissent in the USA has been mild compared to other nations. The OWS or, Occupy Wall Street, had an objective when it began. Later on, the OWS thing was just an excuse to go into the streets and fight with police for no apparent reasons. These are adult kids with no work, no life purpose, and no future. In the long hot urban summer of 2012, with increasing hopelessness among the young, demonstrations and street violence expands. We are against this kind of mayhem as it solves nothing; people can get hurt and the taxpayers have to pay police overtime and cover the extensive damage to public places. It won't matter. This problem is only the beginning in a chain reaction to the "Situations." A decade of Unruly weather produced numerous problems. Most importantly, grain, meat animals and other kinds of agricultural products are more costly and still increasing in price. Coupled with growing inflation on money and bond printing, the dollar sinks in value depleting assets. More droughts, earthquakes, food shortages, famine, high winds, and blackouts are front and center. In America, the larger event (at least known at this time) is going to be the election. The Obama administration is well positioned for re-election as the president has a $1 Billion dollar war-chest, and the ruling party still maintains enough congressional control to pass bills or, stymie the GOP's. The GOP is no bed of roses either. They have gone along with wasteful spending and onerous laws and rules now chafing the American public. This is why, in our view, we saw the rise of the Tea Party and Ron Paul. Would there be a tax revolt if new higher taxes are demanded in a depression? What if Obama, under severe strain of the job, decides at the convention to resign? What if an independent candidate for president appeared and was appreciated by the general voter group at large? We see stuff on the edges signaling that is a trend. Trends can move quickly and unexpectedly. What if Obama wins the election and there is widespread voter fraud in the process. Remember the hanging chads event with Bush and Gore? We think Harry Reid lost his election to that lady but got re-elected on fixed electronic voting machines. If Obama is re-elected and voter fraud lawsuits are filed, what happens next? Is the election a do-over? If Obama loses, I am expecting race riots particularly if the election is very close. What happens if class warfare comes to the fore if Obama is elected, higher taxes go into effect, and worker-taxpayers feel they have been impugned and picked-upon to pay for the growing jobless? While we have a strong record on our forecasts, we are not mind-readers. Yet, as an observer of politics, we see several items that might have a major out-come on this November election. Some of those would be: The president is stubborn and not prone to compromise with the opposition. This makes it tough to get major bills or, budgets passed. The result is not good for the USA economy, national treasury or, American citizens. In our view, the primaries and pre-election mayhem will be going wild. The accusations and name calling could reach new and very nasty heights. Pressures on the administration have not been fairly strong considering Obama's record but we think what's happened so far was play school. With budgets demanding to be resolved, Middle Eastern conflicts, citizen dissention and fragile markets, and with the Middle East on edge, it would be very easy for the administration to step on a trip wire. The news and rhetoric are reaching new accusatory levels and feelings are running hot. As Russia continues to add fuel to the Middle Eastern political mess, we can envision some very disruptive and unusual events such as: A delay in the USA election for emergency reasons (B) The outbreak of a new war (C) More stringent capital controls on moving money on numerous market problems (D) An outright taking or, conversion of private pension funds to treasury bonds (E) And, if the streets go nasty enough, we might even see the national guard called out with imposition of martial law. (F) Bank holidays and bank closures are certainly not out of the question. They have already happened in the UK with Northern Rock and all over Greece. (G) Calls for impeachment are not limited to Europe. Obama is at risk too with three major supreme court lawsuits underway posing severe challenges. There are 3-4 states within the USA on the cusp of major default including a potential Chapter 9 bankruptcy. Those would be California, Illinois, and others. Further, major cities within those states are also candidates for a Chapter 9 as well. If you think that is not possible, think about what the failure of a major bond payment can do to a state or, city. We already had one in an Alabama county. The world at large has always been fighting among certain cultures, tribes and nations. However, in a review of history over the last 200 years, I cannot remember when situations were so fraught with anomosity and anger: The Middle East is in a slow-motion dissolve. They hold the keys to a larger chunk of the world's energy. Instability in the region is higher than ever and observers are wondering which country explodes into riots next. Leaders are falling and resigning. Others are fighting with a new ferocity against their own people in unspeakable violence. Israel, Iran and the USA are on the edge of a shooting war. Once again the world is exposed to nuclear threats, and loss of energy reserves, while facing Iran's major league army. In Europe, the entire continent is in danger of an economic crack-up. Germany is the alleged villan as they won't hand over hard-earned cash to weaker, lazy, jobless nations. The slide down the hill has begun with Greece, Portugal, Ireland, Iceland and others. The UK and France are much weaker than openly discussed in the press. Minority immigrants pose a huge problem for both France and England. A passive political stance toward law-breakers in these groups has encourged them to expand crime and spread wider mayhem. In our view America is very resiliant despite all her problems. We can sink into depression and we can always recover and work our way back. This is history and the way things work. However, if there is a national and brutal clampdown on the citizenry and a naked loss of liberty, we are headed toward a whole different venue. That could be the point when the good 'ol boy squirrel shooters and patriots present a weapons display of 500,000,000 guns. Also, if politcal repression becomes the norm, where does the US Military stand? At first, they would obey commands, but I would find it hard to believe the US Army would shoot American citizens. That would be where they would draw the line. That line then becomes anarchy and revolution. Let us all hope and pray our beautiful nation, my America, never ever goes there again. This calendar, or cycle of time in the markets and within the social aspects of societies at large, reminds me of a period in the USA between 1842 and 1876. That cycle had recessions, depressions, a national Civil War, and mass movements for equality, In our view, the current climate is potentially as bad as any we have seen since the inception and birth of our nation in 1776. America is about to face a supreme test. I think she will pass the test but not before some unthinkable events visit our shores disrupting the daily lives of all Americans. "If you don't change direction you end-up where you are going." -Philosfacts Farmers Almanac 2012 Too many psychopaths remain in control and they have no clue where they are going. We think a rude awakening is the final response, creating a howl of dismay, as they place all blame on others. That is the way of the world. Many would say, let 'em go burn. Problem is we sit in their fire.         This posting includes an audio/video/photo media file: Download Now |
| Posted: 18 Feb 2012 07:41 PM PST Canadian government is 'muzzling its scientists' BBC Tiny Robotic Bee Assembles Itself Like Pop-Up Book Wired (hat tip reader Paul S) Bouncing off the walls: Can parkour boost urban economies? Grist (hat tip Lambert) China to launch next manned spacecraft in summer Asahi Shimbun Wireless drug implant takes the trouble out of treatment Nature (hat tip Lambert) Arizona sheriff facing allegations of misconduct forced to publically announce he is gay Washington Post. Per Lambert: "Of course, Pravda doesn't put that he's a Republican in the headline. Closeted Republicans are really a 'dog bites man' story, at this point." Saudi Arabian millionaire 'with links to 9/11 terror attacks' living in luxury London home while working for state oil company Daily Mail. Reader May S. contrasts this with the "comfort arrest" reported yesterday. "Economy Class Syndrome" Debunked Columbia Journalism Review. Not at all certain the indignant tone is warranted. What is wrong, exactly, with taking aspirin as a precaution on 8 hour plus flights? I know doctors who recommend a full dose (not a baby aspirin) daily as a stroke/colon cancer preventative for all patients save those with gastro-intestinal issues. Problems alleged with major Afghan mining deal McClatchy (hat tip Lambert) Riots in streets of Valencia againts cuts in public education Demotix (hat tip reader Skippy) Shanghai lowers tax on new flats South China Morning Press (hat tip Lambert) China Cuts Bank Reserve Reqs; Exports 'Grim' Bloomberg Foxconn Plans to Lift Pay Sharply at Factories in China New York Times Government issues Medicare Advantage guidelines Reuters. Lambert points out that this looks like a guarantee of insurer margins. Romney runs against labor in the heartland Aljazeera America's Poorest People Running Out Of Places To Live: Study Huffington Post (hat tip Lisa Epstein) When a County Runs Off the Cliff New York Times. The article omits the fact that the municipalities within the county are also substantial providers of services and are functioning on a normal basis. Modern Monetary Theory, an unconventional take on economic strategy Washington Post. Lambert found a really serious typo which looks to have been introduced by editors who can't grok that you don't need taxes to fund a sovereign currency issuer. The Case of the Missing Premium Columbia Journalism Review. You must read this. Now. Wall Street insider blasts his industry MarketWatch (hat tip reader George E) "Memento", the Meltdown, and the Mainstream Gerald Epstein, Triple Crisis (hat tip Doug Smith) Mortgage Foreclosure Settlement: Who Pays? Huffington Post Bonds Backed by Mortgages Regain Allure New York Times. The Times is quoting Greg Lippmann, the patient zero of subprime? If the SEC investigation of Deutsche Bank were remotely serious, Lippmann would be in serious trouble. What Greg Zuckerman and Michael Lewis have written about them in their books on subprime shorts alone is grist for a good civil suit. And even worse, the headline implies that there is a market for newly issued non-governemnt guaranteed bonds (wrong, that's dead) when this is about speculation in vintage subprime. The funniest bit is that the Times is acting as if the fact that Lippmann is talking up the market is a tip of sorts. As one of my buddies pointed out long ago, what you worry about when an investor talks up his book is not that he is trying to get more people in to raise the price, but he is trying to get more people in so he can complete his exit. Antidote du jour:
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| Bits of Australia’s Gold history Posted: 18 Feb 2012 05:00 PM PST |
| The latest on Silver from David Morgan Posted: 18 Feb 2012 12:51 PM PST |
| Gold and silver returns calculator Posted: 18 Feb 2012 10:38 AM PST "What if I bought..." calculator at: http://realmoneytracker.com/whatif?a...Id=1&eriod=5y |
| 2012 Price Predictions for Gold and Silver Posted: 18 Feb 2012 10:15 AM PST 2012 Price Predictions for Gold and Silver Feb 15, 2012 http://realmoneytracker.com/blog/201...ld-and-silver/ [first part of article deleted for brevity] So, here we are. More than six weeks have passed of the new Gregorian year and we look ahead now into 2012 for both metals. We've been listening and reading carefully what gold and silver experts have had to say about the two metals for 2012 during the last six weeks. Four your conveniences we've compiled a table listing what the experts say. SEE TABLE BELOW Worth noting is that the major banks now have joined the bulls predicting higher prices for gold. In our mind, this is a huge change. The major banks have remained bearish on the metals all throughout this bull market, at least officially. Does this mean they will now start recommending the yellow metal to their clients? Perhaps, perhaps not. To us this could signal the next phase in the bull market where the metals becomes a main stream investment, gold first, then silver. Granted, we've only included price predictions from gold and silver bulls, and no bears. Why? Because the bears have been constantly wrong for the last 11 years, so we see no reason to listen to bears UNTIL the bulls named above turn into bears. Until then, our outlook will not change. Until central banks start raising interest rates and stop their insanely vast money printing schemes, the bulls will remain bulls since gold and silver are money, the only form of money that cannot be printed. Not to mention that the entire financial system is insolvent, sovereign nations are on the brink of bankruptcy, and the derivatives bubble north of 1000 trillion dollars keeps expanding etc etc. The more they print, the higher the prices for gold and silver. Having said that, looks like we'll have yet another great year for gold and silver. As you can see the average price targets above are for silver just shy of 60 USD/oz and for gold slightly above 2200 which matches my own targets for the end of 2011. Clearly I was too bullish in in late August last year which goes to show how important it is to be in this market long term. I remain very bullish as the gentlemen above for reasons explained many times on this blog and elsewhere. May your fortunes grow and the year of the Dragon bring you much luck. For gold and silver, luck will not be needed. Best Regards /Johnny Mellgren and the RealMoneyTracker.com team |
| NRA is Shilling for Universal Coin & Bullion Posted: 18 Feb 2012 06:54 AM PST I get my copy of the NRA's magazine "American Rifleman" and what's on the cover? A fancy 1911 pistol surrounded by gold and silver coins and the UC&B logo with "The Official Bullion and Rare Coin Dealer of the NRA" under the logo. Now, I certainly don't disagree with the concept of promoting gold and silver to people, but picking the boys in Beaumont as their "Official Dealer"! There are so many good PM dealers out there that they could have used, but UC&B has been a big advertiser in AR mag for many years. Now, it is official! I realize that many here have had satisfactory dealings with UC&B, but I don't like their high pressure sales tactics, encouraging people to buy overpriced numi PM's. Probably not the best introduction into PMs. |
| Silver Could Double by Year End Posted: 18 Feb 2012 02:20 AM PST Were you cursing at your computer screen when silver nearly tripled during the short 9 months from September 2010 to May 2011? $20 seemed like an insurmountable threshold for quite some time and many gave up on silver, completely missing the ride. A 180% ROI ride that took place in under a year. Silver [...] |
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